MUMBAI (Reuters) - The rupee slipped on Monday afternoon to near six-week lows as dollar demand from importers, most likely for defence equipment purchases, remained strong while subdued shares clouded the outlook for inflows.
* At 2:21 p.m. (0851 GMT), the rupee was at 49.88/89 to the dollar, after dipping to 49.95, a level last seen on January 25, according to Thomson Reuters data. The currency closed at 49.50/51 on Friday.
* Traders said weak global risk sentiment caused by a slowing Chinese economy and Greece's debt crisis added to the selling in the rupee.
* Most traders expect the rupee to see support around 50, a level beyond which the Reserve Bank of India would likely step in to support the currency.
* The RBI has actively intervened in the market over the last few months, selling dollars while simultaneously resorting to a flurry of steps aimed at cutting speculation and improving dollar inflows.
* India's benchmark share index was down more than 1.4 percent on worries the federal government would not be able to revive stalled reforms.
(Reporting by Aditya Phatak; Editing by Ranjit Gangadharan)
