Reuters India Business

By Ira Dugal and Siddhi Nayak MUMBAI (Reuters) – Indian lenders will appeal against a central bank proposal to tighten rules for infrastructure project loans, according to a banker and a source familiar with the matter. The Indian Banks Association (IBA) is gathering inputs and will write to the central bank, opposing the imposition of …

Indian lenders to appeal cenbank’s tough project finance proposal, sources say Read More »

BENGALURU (Reuters) – Indian power producer JSW Energy reported a 29.1% year-on-year jump in fourth-quarter profit on Tuesday, helped by increased power generation capacity and rising power demand. WHY IT’S IMPORTANT Searing heatwaves and an uptick in economic activity have resulted in India’s electricity generation growing at an annual average of about 8%, following the …

India’s JSW Energy posts higher Q4 profit, approves $1.2 billion fund raise Read More »

BENGALURU (Reuters) – Indian fast-moving consumer goods’ sales rose in January-March, with rural growth outpacing that in urban areas for the first time in five quarters, market researcher NielsenIQ said on Tuesday. Consumer goods-makers in the world’s fifth-largest economy have been struggling with sluggish demand, especially in the hinterlands, as higher prices of essentials including …

Rural India’s consumer products demand outpaces urban areas, NielsenIQ says Read More »

(Reuters) – India’s fuel consumption rose by 6.1% year-on-year in April, data from the Petroleum Planning and Analysis Cell of the oil ministry showed on Tuesday. WHY IT IS IMPORTANT India is the world’s third-biggest oil importer and consumer. The data is a proxy for the country’s oil demand. KEY QUOTE “The rise in total …

India’s April fuel demand edges up 6.1% year-on-year Read More »

COLOMBO (Reuters) – Sri Lanka has entered into a 20-year power purchase agreement with India’s Adani Green Energy Ltd for two wind power stations developed by the company, a cabinet statement said on Tuesday. Adani Green Energy, the renewable energy unit of the Adani Group, led by billionaire Gautam Adani, won the approval in February …

Sri Lanka inks 20-year power purchase deal with India’s Adani Green Read More »