Reuters India Business

MUMBAI (Reuters) -The Reserve Bank of India (RBI) plans to use non-bank payment system operators, including third-party payment app providers, to make the e-rupee more accessible to retail users, it said on Friday. The RBI piloted its central bank digital currency (CBDC), which uses distributed-ledger technology, in 2023 but only allowed banks to offer these …

India to broaden e-rupee’s retail access beyond banks, cenbank says Read More »

MUMBAI (Reuters) – India’s central bank reiterated on Friday that underlying foreign exchange exposure is necessary for transacting in rupee derivatives on exchanges. The requirement of underlying exposure for rupee derivatives has always been the central bank’s policy “for the last so many years”, the central bank’s Governor Shaktikanta Das said at a post policy …

India cenbank reiterates FX exposure must for rupee exchange derivative transactions Read More »

By Swati Bhat and Sudipto Ganguly MUMBAI (Reuters) -The Indian central bank’s key interest rate was kept unchanged for a seventh straight policy meeting on Friday as growth in the economy is expected to remain robust while inflation stays above the 4% target. The six-member monetary policy committee kept the main lending rate at 6.5%, …

India’s central bank holds rate, looking for inflation “elephant” to vanish Read More »

(Reuters) – India’s key rate was left unchanged for a seventh straight meeting on Friday, in line with expectations, as the central bank awaited a sustained fall in inflation towards its 4% target amid robust economic growth. The six-member monetary policy committee (MPC), consisting of three Reserve Bank of India (RBI) and three external members, …

Instant view: India’s cenbank leaves rates unchanged, as expected Read More »

By Bharath Rajeswaran and Kashish Tandon BENGALURU (Reuters) -Indian shares were flat on Friday, paring earlier losses as real estate stocks got a boost from the country’s central bank standing pat on rates, while IT stocks dropped amid uncertainty around U.S interest rate cuts. The NSE Nifty 50 index was little changed at 22,501 as …

Indian shares flat as realty stocks counter weak IT on cenbank pause Read More »

(Reuters) -GameStop said on Thursday Nir Patel had stepped down from his role as the company’s chief operating officer, effective April 4. Grapevine, Texas-based GameStop and Patel have entered into a separation agreement that also entails a mutual release of claims, the video game retailer said in a regulatory filing. Last month, the company cut …

GameStop COO Nir Patel steps down Read More »

By Brijesh Patel (Reuters) – Gold prices took a breather on Thursday after hitting an all-time high earlier in the session on expectations for lower U.S. interest rates this year, as investors await more clarity on the timing of the cuts. Spot gold was steady at $2,300.49 per ounce as of 2:50 p.m. EDT (1850 …

Gold consolidates near all-time high on US rate cut hopes Read More »

By Nidhi Verma and Krishn Kaushik NEW DELHI (Reuters) -The United States has not asked India to cut Russian oil imports as the goal of sanctions and the G7-imposed $60 per barrel price cap is to have stable global oil supplies while hitting Moscow’s revenue, an American treasury official said on Thursday. India has emerged …

US has not asked India to cut Russian oil purchases, American official says Read More »

By Aditi Shah, Shivangi Acharya and Victoria Waldersee NEW DELHI/BERLIN (Reuters) – Tesla has begun production of right-hand drive cars at its plant in Germany for export to India later this year, three people aware of the company’s plans told Reuters, as it moves ahead with a possible entry into the world’s third-largest car market. …

Tesla begins making cars in Germany for export to India this year -sources Read More »