Reuters India Business

BENGALURU (Reuters) – IIFL Finance said a special audit directed by the Reserve Bank of India (RBI) started on Tuesday, about one-and-a half month after the country’s central bank barred the non-bank finance company from disbursing gold loans. In early March, the RBI ordered IIFL Finance to stop sanctioning, disbursing and selling gold loans, citing …

IIFL Finance’s cenbank-directed audit starts after March gold loan ban Read More »

BENGALURU (Reuters) – India’s ICICI Prudential Life Insurance Company reported a lower new business margin on Tuesday, hurt by persistent decline in demand for high-value policies and as customer preference shifted towards low-margin products. Value for new business (VNB), the expected profit from new policies, fell 19.5% to 22.27 billion rupees ($267 million) for the …

India’s ICICI Prudential reports narrower new business margin for FY 2024 Read More »

BENGALURU (Reuters) – India’s Tata Consumer Products on Tuesday posted a rise in its fourth-quarter profit before a one-time expense, aided by strength in its domestic business that sells essential items such as pulses, grains and salt. The company’s consolidated profit before exceptional items rose to 5.09 billion rupees ($61.08 million) from 4.56 billion rupees …

India’s Tata Consumer posts higher Q4 profit before one-time charge on steady local demand Read More »

By Anant Chandak BENGALURU (Reuters) – India’s business activity expanded at its fastest pace in nearly 14 years this month thanks to robust demand, according to a survey released on Tuesday that also showed easing input inflation and positive jobs growth. That suggests India is well placed to remain the fastest growing major economy this …

India’s April business growth at near 14-year high, PMIs show Read More »

MUMBAI (Reuters) – The Indian rupee was largely unchanged on Tuesday, tracking the rangebound movement in its Asian peers and largely steady U.S. bond yields as traders await fresh cues from economic data due later in the week. The rupee was at 83.3275 against the U.S. dollar as of 10:10 a.m. IST, mildly higher than …

Rupee little changed, tracking mostly rangebound Asian peers Read More »