Reuters India Business

(This Aug. 13 story has been refiled with the correct logo of the company) BENGALURU (Reuters) – India’s largest gold loan provider, Muthoot Finance, reported a smaller-than-expected first-quarter profit on Tuesday, as higher impairment charges and finance costs outpaced strong loan demand on the back of elevated gold prices. The company’s profit rose about 11% …

India’s Muthoot Finance misses Q1 profit view as impairment charges soar Read More »

BENGALURU (Reuters) – India’s markets regulator on Friday proposed to expand sustainable finance framework in the country’s securities market by including a new investment product. The Securities and Exchange Board of India (SEBI) proposed a new concept called sustainable securitized debt instruments or green securitization, which the regulator defined as having sustainable finance credit facilities …

India proposes to expand sustainable framework in securities market Read More »

By Ashwin Manikandan and Siddhi Nayak BENGALURU/MUMBAI (Reuters) – Indian private lender Yes Bank has appointed veteran banker Sumit Bali to head its retail business and collections, three sources directly familiar with the matter said on Friday. Bali will join Yes Bank from Aug. 26 and report to executive director Rajan Pental, one of the …

India’s Yes Bank appoints veteran banker Sumit Bali to head its retail business, sources say Read More »

BENGALURU (Reuters) – India’s top e-scooter maker Ola Electric Mobility surged 20% on Friday to reach a valuation of 586.64 billion rupees ($6.99 billion), after it launched a new line of motorcycles and on bets it will lower costs by using its own batteries. The e-motorcycle launch is set to intensify competition in the world’s …

India’s Ola Electric soars to $7 billion valuation on e-motorcycle launch, battery plan Read More »

By Nimesh Vora and Jaspreet Kalra MUMBAI (Reuters) – The Indian central bank has told banks that deal with the United Arab Emirates (UAE) to settle at least a part of their trade payments directly using the rupee and dirham, according to five banking sources. The Reserve Bank of India (RBI) hasn’t given banks a …

India central bank asks banks to push direct rupee-dirham settlement, sources say Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares rose on Friday, led by information technology stocks, after firm U.S. economic data allayed fears of a recession in the world’s largest economy, spurring a global rally. The NSE Nifty 50 index was up 0.72% at 24,316.48 as of 9:57 a.m. IST, and the S&P BSE Sensex rose …

Indian shares advance as US data quells recession fears Read More »