MUMBAI (Reuters) – The Indian government is stepping up scrutiny on digital lending apps in an attempt to weed out ones which indulge in unethical lending and recovery practices, the government said in a notification on Friday. The central bank has been asked to prepare a list of legal digital lending apps while the government …
India to prepare a ‘whitelist’ of digital lending apps Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee hit a more than one-week high against the U.S. currency on Friday, as the dollar index fell further from a two-decade high scaled earlier this week. The rupee was trading at 79.6350 per U.S. dollar, as of 0502 GMT, up from 79.71 in the previous session. …
Hits more than 1-week high on weaker dollar, oil prices Read More »
NEW DELHI (Reuters) -Indian conglomerate Tata Group is in talks with Taiwanese supplier Wistron Corp to establish a joint venture to assemble Apple’s iPhones in India, Bloomberg News reported on Friday. The venture would be the Indian salt-to-software group’s latest push into technology manufacturing as it taps Wistron’s expertise in product development, supply chain and …
India’s Tata group in talks with Wistron to assemble iPhones – Bloomberg News Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar gained against the yen on Thursday, climbing in nine of the last 10 sessions, after Federal Reserve Chair Jerome Powell reiterated that the U.S. central bank will continue to raise interest rates in order to tame surging inflation and warned against prematurely loosening monetary policy. For …
U.S. dollar rises vs yen as Fed reinforces hawkish stance; euro falls Read More »
By Rajendra Jadhav MUMBAI (Reuters) -India banned exports of broken rice and imposed a 20% duty on exports of various grades of rice on Thursday as the world’s biggest exporter of the grain tries to augment supplies and calm local prices after below-average monsoon rainfall curtailed planting. India exports rice to more than 150 countries, …
India restricts rice exports, could fuel food inflation Read More »
By Brijesh Patel (Reuters) – Gold prices slipped on Thursday as the dollar and U.S. Treasury yields climbed after comments from Federal Reserve Chair Jerome Powell cemented expectation around a 75-basis-point rate hike at its upcoming policy meeting. The Fed is “strongly committed” to controlling inflation but there remains hope it can be done without …
Gold dips as U.S. dollar, yields rise after Powell comments Read More »
By Sudarshan Varadhan NEW DELHI (Reuters) -India expects annual electricity demand to grow at an average of 7.2% over five years ending March 2027, a draft government plan showed, nearly double the growth rate of over 4% seen during the five years to March 2022. The Central Electricity Authority (CEA), an advisory body to the …
India power demand growth rate seen nearly doubling in next five years Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee trimmed early gains against the U.S. currency on Thursday, weighed down by dollar demand from importers and oil companies. The rupee was quoted at 79.81 per U.S. dollar, as of 0458 GMT, compared with 79.90 in the previous session. The local currency had opened stronger at …
Pares early gains on dollar demand from importers, oil refiners Read More »
NEW DELHI (Reuters) – An Indian central bank official said on Thursday that a focus on spending on infrastructure would help the country contain long-term, supply-side inflation. Sitikantha Pattanaik, an executive director at the Reserve Bank of India, was speaking at an event in New Delhi. Ashima Goyal, a member of India’s Monetary Policy Committee, …
India cenbank official: infrastructure spending can curb supply-side inflation Read More »
By Aftab Ahmed NEW DELHI (Reuters) -India’s finance minister said on Thursday that importing Russian oil was part of the country’s inflation-management strategy and that other countries were doing something similar. Despite Western pressure, India has not condemned Russia’s February invasion of Ukraine, instead calling for a diplomatic solution to the crisis and an end …
India says importing Russian oil part of inflation management Read More »
