By Nupur Anand and Aftab Ahmed MUMBAI (Reuters) -Central Bank of India, a state-owned commercial bank, plans to shut 13% of its branches to improve its financial health and bring an end to nearly five years of close scrutiny by the Reserve Bank of India, according to sources and a document seen by Reuters. The …
State-owned Central Bank of India to close 13% of its branches: sources, document Read More »
BENGALURU (Reuters) – Indian shares closed on a flat note on Thursday, giving up gains from earlier in the session, as the rise in information technology and metal stocks was offset by losses in realty and banks. The NSE Nifty 50 index was up 0.03% at 16,682.65, while the S&P BSE Sensex rose 0.06% to …
Indian shares muted as realty offsets IT, metal gains Read More »
BENGALURU (Reuters) – Activity in India’s dominant services sector grew at its fastest pace in five months in April on strong demand, prompting firms to add jobs for the first time since November, a private survey showed, but sky-rocketing inflation remained a major concern. The S&P Global India Services Purchasing Managers’ Index rose to 57.9 …
India’s April services growth at five-month high despite inflation worries Read More »
PARIS (Reuters) -French power group EDF hopes to seal a deal to equip six next-generation EPR nuclear reactors in India “in the coming months”, a group spokesperson said on Thursday. The company confirmed a report by BFM television which emerged after French President Emmanuel Macron met with Indian Prime Minister Narendra Modi on Wednesday to …
EDF hopes to seal EPR nuclear reactor deal in India in coming months Read More »
By Seher Dareen (Reuters) – Gold bounced higher on Wednesday as the dollar and U.S. Treasury yields slipped after Federal Reserve Chair Jerome Powell, following an expected interest rate hike, flagged risks to the economy from soaring inflation. Spot gold rose 0.8% to $1,883.41 per ounce by 3:19 p.m. ET (1919 GMT), extending slight gains …
Gold gains 1% as dollar dips after Powell flags inflation risks Read More »
(Reuters) – India is not moving to curb wheat exports, the top official at the food ministry said on Wednesday, following an earlier report that the world’s second biggest producer of the grain was mulling restrictions after a heat wave damaged crops. Food and farm ministry officials said on Wednesday that India can still easily …
India is not moving to curb wheat exports, official says Read More »
By Krishna N. Das NEW DELHI (Reuters) -India defended its continued purchases of Russian oil on Wednesday https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1822665, saying they were part of its long-standing effort to diversify its supplies and arguing a sudden halt to imports would jack up world prices and hurt its consumers. Attracted by discounts, the world’s third-largest crude oil importer …
India says sudden halt to Russian oil imports would hurt citizens Read More »
BENGALURU (Reuters) – The Reserve Bank of India’s monetary policy committee raised the key lending rate by 40 basis points on Wednesday, in a surprise move, as it sought to take timely and calibrated steps to exit the extraordinary accommodation and contain rapid inflation. The MPC raised the key lending rate or the repo rate …
India cenbank raises key rate by 40 bps to tame inflation Read More »
NEW DELHI (Reuters) – India will allocate more rice instead of wheat for a food welfare programme that entitles millions of poor to 5 kilograms of free grain per month, according to a federal government order. The allocation of wheat for the Prime Minister’s Poor Welfare Grain Programme has been cut to 7.1 million tonnes …
India plans less wheat, more rice for free food programme Read More »
(Corrects date to May 4) By Rama Venkat BENGALURU (Reuters) – Indian shares erased modest gains from earlier in the session to trade lower on Wednesday, as metal and pharmaceutical stocks declined ahead of the country’s biggest IPO and an expected rate hike by the U.S. Federal Reserve. The NSE Nifty 50 index was down …
Indian shares slip as pharma, metal stocks fall; LIC opens for subscription Read More »
