Reuters India Business

BENGALURU/MUMBAI (Reuters) -India’s Bank of Baroda said on Wednesday the central bank has lifted restrictions on onboarding customers through its mobile application. The Reserve Bank of India had stopped Bank of Baroda from adding customers to its mobile app in October, citing “certain material supervisory concerns,” without giving any details about the issues. The bank …

India’s Bank of Baroda says cenbank lifts ban on adding customers on mobile app Read More »

By Siddhi Nayak and Jaspreet Kalra MUMBAI (Reuters) – Indian banks’ plan to increase their technology spending to around 10% of their operating expenses to keep up with the surge in digital transactions as the central bank intensifies scrutiny on frequent outages, more than half a dozen bankers said. Banks were earlier spending between 6%-8% of …

Indian banks to step up IT spends as regulatory scrutiny rises Read More »

BENGALURU (Reuters) – Uncertainty around the ongoing elections in India could hurt automakers’ sales in May despite rising consumer interest for new model launches, a dealers’ body said on Wednesday. The world’s most populous nation began voting on April 19 in a massive general election where Prime Minister Narendra Modi is seeking a rare third …

Election uncertainty could hurt Indian auto sales in May, dealers’ body says Read More »

By Shivangi Acharya and Sarita Chaganti Singh MATHURA, India (Reuters) – Indian Prime Minister Narendra Modi has drawn up new targets to boost farmer incomes as he seeks to secure his legacy of reforming the world’s largest democracy and tries to assuage a key voting bloc disillusioned by his government’s past failures. Modi, who is …

Exclusive-India’s Modi, chasing reform legacy, shifts income goals for struggling farmers Read More »

NEW DELHI (Reuters) -India does not see any nasty upside to inflation at the moment, and expects its economy to expand by more than 7% in the current fiscal year, V. Anantha Nageswaran, the government’s chief economic adviser, said on Wednesday. Annual retail inflation rate eased in March to a five-month low of 4.85%, helped …

India sees no ‘nasty’ upside to inflation, govt adviser says Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee was under pressure on Wednesday on portfolio outflows and dollar payments by oil companies, but remained largely supported near an important level. The rupee was at 83.50 to the U.S. dollar at 10:54 a.m. IST, barely changed from the previous session. “It’s just that we have …

Oil companies, portfolio outflows keep rupee under pressure Read More »