Reuters India Business

India regulator asks small, mid-cap funds to disclose more about risks

By Jayshree P Upadhyay (Reuters) – India’s market regulator has asked the country’s asset managers to give investors more information about the risks associated with their small and mid-cap funds, according to a fund manager and two people with knowledge of the matter. Small and mid-sized funds have seen high inflows, causing concern among authorities …

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Indian state to inspect outlets of global fast-food chains after McDonald’s cheese crackdown

By Dhwani Pandya and Praveen Paramasivam MUMBAI (Reuters) – India’s western state of Maharashtra will inspect outlets of global fast-food brands to check if they use cheese alternatives in products wrongly promoted as containing real cheese, widening scrutiny beyond a crackdown on McDonald’s, a top official said. The checks threaten to cause a headache for …

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India’s Adani Green Energy to raise $409 million via dollar bonds

MUMBAI (Reuters) – India’s Adani Green Energy is looking to raise $409 million via U.S. dollar-denominated bonds with a door-to-door tenor of 18 years, the company said in a regulatory filing on Tuesday. Reuters had earlier reported that Adani Green Energy was looking to raise around $500 million by issuing dollar bonds in March, making …

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Bristol Myers CEO says India to have largest R&D presence outside US by 2025

By Rishika Sadam and Leroy Leo HYDERABAD (Reuters) – Bristol Myers Squibb aims to expand its research and development presence in India and expects its newly inaugurated Hyderabad facility to become its largest unit outside the U.S. by 2025, CEO Christopher Boerner said on Tuesday. The $100-million facility, inaugurated by Boerner on Monday, is expected …

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India’s ‘insourcing’ boom does not spell doom for outsourcing, tech execs say

By Sai Ishwarbharath B MUMBAI (Reuters) – Global companies are setting up more offices in India and expanding in-house teams but that does not mean the end of the road for Indian IT firms, which rely heavily on outsourcing deals, executives said at a Nasscom event last week. Companies opened 118 global capability centers (GCCs) …

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Indian finance minister asks cenbank, fintechs to hold monthly meetings in wake of Paytm

NEW DELHI (Reuters) – India’s finance minister has asked the Reserve Bank of India to hold monthly meetings with fintech firms to address their regulatory concerns, the ministry said in a statement, following a crisis at Paytm Payments Bank triggered by a central bank order. Finance Minister Nirmala Sitharaman met representatives from the fintech industry …

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Exclusive-India cenbank lifting curbs on forex non-deliverable forward arbitrage by banks, sources say

By Jaspreet Kalra and Nimesh Vora MUMBAI (Reuters) – India’s central bank is easing restrictions on banks’ arbitrage trades between the outright foreign exchange over-the-counter (OTC) and the non-deliverable forward (NDF) markets, four people familiar with the matter said. The Reserve Bank of India (RBI) has allowed banks, that have made requests, to resume such …

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Paytm’s Vijay Shekhar Sharma quits payments bank board in major shakeup

BENGALURU (Reuters) -Embattled digital payments firm Paytm said on Monday CEO Vijay Shekhar Sharma would step down as non-executive chairman and board member of its payments bank unit, as part of a major board overhaul that follows a central bank clampdown. The Reserve Bank of India (RBI) had asked Paytm Payments Bank to wind down …

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