(Reuters) -Credit-rating firm Fitch maintained India’s sovereign rating at ‘BBB-‘ on Monday, citing levels of fiscal deficits and debt that are still high, crushing the government’s hopes for a lift in ratings by all three major providers. This month, S&P upgraded India to ‘BBB’, its first such upgrade in 18 years, prompting the government to …
Fitch keeps India rating, flags high debt, US tariff risks Read More »
(Reuters) -State Bank of India, the country’s largest lender by assets, has requested the banking sector regulator to allow banks to finance acquisitions, its chairperson said on Monday. “We’ve been formally requesting the regulator, we’ll make a formal request from the IBA (Indian Banks’ Association) also, that at least start with some listed companies where …
India’s top lender SBI asks regulator to allow banks to fund acquisitions Read More »
By Vivek Kumar M (Reuters) -Indian shares kicked the week off on a positive note as U.S. Federal Reserve Chair Jerome Powell hinting at an interest rate cut buoyed prospects for risk assets globally. The Nifty 50 rose 0.39% to 24,967.75 points and the BSE Sensex added 0.4% to 81,635.91. Powell pointed to a possible …
India’s equity benchmarks rise on Fed rate cut hopes Read More »
(Reuters) -Veteran banker Rajiv Anand has taken charge as IndusInd Bank’s chief executive and managing director, the beleaguered bank said in an exchange filing on Monday. Anand, whose appointment was announced earlier this month, was previously the deputy managing director at private lender Axis Bank and has held key management positions at leading global financial …
Veteran banker Rajiv Anand takes charge as CEO of India’s IndusInd Bank Read More »
By Dharamraj Dhutia MUMBAI (Reuters) – The Indian rupee gave up early gains to end lower on Monday as concerns over steep tariffs on Indian goods spurred dollar demand, with importer bids adding pressure. The currency closed 0.1% lower at 87.58, against its previous close of 87.53 in the previous session. The local unit, which …
India rupee slips for fourth session on tariff anxiety, importer bids Read More »
By Shubham Batra NEW DELHI (Reuters) -India will start sourcing price data directly from e-commerce giants including Amazon and Walmart-owned Flipkart to overhaul its benchmark inflation gauge, aiming to capture shifting consumption habits and address concerns that current data is outdated, the head of the statistics ministry said. The move could make India’s retail inflation …
India to tap Amazon, Flipkart data directly in inflation revamp, roll out services index Read More »
(Reuters) -India’s crude oil imports fell 8.7% in July to 18.56 million metric tons month-on-month, the lowest level since February 2024, government data showed on Monday. WHY IT’S IMPORTANT India is the world’s third-biggest oil importer and consumer, making this data a key indicator of the country’s oil demand. BY THE NUMBERS On a yearly …
India’s crude oil imports drop to near 18-month low in July Read More »
By Khushi Malhotra MUMBAI (Reuters) -India’s central bank remains focused on price stability while supporting economic growth, Governor Sanjay Malhotra said on Monday, adding that financial and price stability are enablers rather than obstacles to economic expansion. “We have not lost sight of our growth objective,” Malhotra said in his speech at an annual banking …
India central bank has not lost sight of growth objective, says chief Read More »
By Praveen Paramasivam (Reuters) -India’s Blue Star expects its room air conditioner sales to beat the company’s previous forecast this financial year, thanks to new government plans to slash consumption taxes, a top executive said. In the nation’s biggest tax overhaul since 2017, Prime Minister Narendra Modi this month announced plans to cut taxes on …
India AC maker Blue Star expects sales bump from Modi tax cuts, executive says Read More »
By Dharamraj Dhutia and Nimesh Vora MUMBAI (Reuters) -The Indian rupee’s trajectory this week will be dominated by developments on U.S. trade policy, with steep tariffs on Indian goods slated to take effect from Wednesday, while government bonds will track any developments on the fiscal front. Relations between Washington and New Delhi have deteriorated, with …
Rupee to contend with additional US tariff countdown, bonds to track fiscal developments Read More »
