Reuters India Business

BENGALURU (Reuters) – India’s markets regulator on Friday barred business tycoon Vijay Mallya from trading in the country’s securities market and from associating with any listed company for three years. The Indian government has been trying to extradite Mallya, 68, who lives in Britain, to face charges of fraud resulting from the collapse of his …

India’s markets regulator bars tycoon Vijay Mallya from securities trading for 3 years Read More »

By Nandan Mandayam and Meenakshi Maidas BENGALURU (Reuters) -IndiGo said it expects the number of aircraft grounded due to Pratt & Whitney engine issues to decrease by early next year, with the Indian airline also reporting its first quarterly profit fall in nearly two years. A rare powder metal defect in Pratt & Whitney engines …

IndiGo says groundings due to Pratt engine issues to decrease by next year Read More »

BENGALURU (Reuters) – The Reserve Bank of India imposed a penalty of 24.1 million rupees (nearly $288,000) on Visa in relation to its usage of an unauthorised payment transfer method, the central bank said on Friday. “It was observed that the entity (Visa) had implemented a payment authentication solution without regulatory clearance from RBI,” the …

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BENGALURU (Reuters) – India’s foreign exchange reserves rose for a third straight week, hitting a lifetime high of $670.86 billion as of July 19, data from the Reserve Bank of India showed on Friday. The reserves climbed by $4 billion in the reporting week, after rising by a total of $14.9 billion in the prior …

India’s foreign exchange reserves rise for third week, hit record high Read More »

By Nikunj Ohri and Manoj Kumar NEW DELHI (Reuters) – India’s Paytm has got approval from the government for its 500 million rupees ($5.97 million) investment in a key subsidiary, a top finance ministry official told Reuters on Friday. The approval, which was stuck for months due to the company’s link to China, will remove …

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By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee declined to its weakest level on record on Friday, pressured by dollar demand from local oil companies, custodial banks and tepid risk sentiment. The rupee was at 83.7175 against the U.S. dollar as of 10:35 a.m. IST, having slipped to a record low of 83.7250 in …

Rupee slips to all-time low, traders expect gradual depreciation to persist Read More »