By Dharamraj Dhutia MUMBAI (Reuters) -The fall in India’s banking system liquidity surplus is expected to ease over the coming days, as government spending and bond redemptions offset the impact of recent tax outflows, analysts said on Monday. The liquidity surplus declined to 70 billion rupees ($794 million) on September 21, the lowest since late …
India’s bank cash crunch likely temporary, analysts say Read More »
By Bharath Rajeswaran and Vivek Kumar M (Reuters) -Indian equity benchmarks declined on Monday, dragged by key information technology stocks that lost roughly $10 billion in combined market capitalisation after the U.S. unveiled a steep fee on new H-1B visa applications. The Nifty 50 slipped 0.49% to 25,202.35, while the BSE Sensex dropped 0.56% to …
Indian shares fall as US visa crackdown triggers near $10-billion sell-off in IT stocks Read More »
MUMBAI (Reuters) – The Indian rupee closed slightly weaker on Monday as new U.S. visa norms weighed on markets and dragged IT stocks lower, with traders expecting the currency to stay under pressure until there is progress on U.S.-India trade talks The rupee closed at 88.3075 against the U.S. dollar, down 0.2% on the day. …
Rupee slips as H-1B visa fee hit for Indian stocks drags sentiment Read More »
(Reuters) -India’s IndusInd Bank named Viral Damania as its chief financial officer on Monday, marking another key leadership appointment in nearly a month after a $230 million hit in accounts triggered a management shakeup earlier this year. Damania’s appointment, effective September 22, comes after the bank late last month said veteran banker Rajiv Anand had …
India’s IndusInd Bank names Viral Damania as CFO Read More »
MUMBAI (Reuters) -Walmart-backed Indian fintech firm PhonePe’s [PHOP.NS] losses narrowed in the year ended March 2025 to 17.2 billion rupees ($194.78 million), the company said in a regulatory filing, ahead of the firm’s widely anticipated initial public offering. The company reported a loss of 19.96 billion rupees in the year ended March 2024. PhonePe, among …
Walmart-backed PhonePe’s losses shrink ahead of anticipated listing Read More »
NEW DELHI (Reuters) -The Indian government is planning to sell minority stakes in about half a dozen state-run companies, divestment secretary Arunish Chawla told television channel CNBC-TV18 on Monday. Chawla did not disclose which companies will be considered for the sale of stakes, but Reuters has previously reported that India has plans to sell shares …
India plans minority stake sales in half a dozen state firms, official says Read More »
By Kashish Tandon and Abinaya V (Reuters) -Indian information technology majors saw their shares slump on Monday after U.S. President Donald Trump imposed a $100,000 fee on new H-1B visa applications, threatening to inflate costs and slow revenue growth in their biggest market. The sector, which earns about 57% of its revenue from the U.S., …
NEW DELHI (Reuters) -India’s federal renewable energy ministry is in talks with state governments to buy more clean energy as many state-run utilities have been delaying purchases, the country’s renewable energy minister said on Monday. “Trying to convince state governments which are looking for power prices to fall further. Will hold a second round of …
India’s federal government pushing states to buy clean energy, minister says Read More »
(Reuters) -The United States specifying that higher fees for H-1B visa applications will be imposed only on new applications has helped reduce uncertainty, India’s information technology industry body Nasscom said on Monday. Indian and India-centric companies operating in the U.S. have significantly reduced their reliance on H-1B visas, Nasscom said, adding that it expects only …
US H-1B visa clarification eases uncertainty, India’s IT industry body says Read More »
NEW DELHI (Reuters) -Indian Prime Minister Narendra Modi in a public address on Sunday asked citizens to stop using foreign-made products and instead use local ones, pushing for a self-reliant campaign when trade ties with the United States have soured. After U.S. President Donald Trump imposed a 50% tariff on imported Indian goods, Modi has …
Modi urges Indians to get rid of foreign products amid strained US ties Read More »
