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Indian boycott of Turkish coffee, chocolates and fashion grows

19 May 2025

By Dhwani Pandya MUMBAI (Reuters) -Small Indian grocery shops and major online fashion retailers are boycotting Turkish products ranging from chocolates, coffee, jams and cosmetics to clothing amid growing anger at Turkey’s support for Pakistan in a confrontation with India. Turkish President Tayyip Erdogan expressed public solidarity with Pakistan, another majority-Muslim country, after India conducted …

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India cenbank proposes easier rules for lenders’ investments in AIFs

19 May 2025

MUMBAI (Reuters) -India’s central bank on Monday proposed more liberal rules governing investments by lenders in Alternative Investment Funds (AIFs), citing improved financial discipline after rules were tightened earlier. In December 2023, the RBI barred banks and NBFCs from investing in AIFs that held exposures to their existing or recent borrowers. It later eased the …

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Exclusive-India plans stricter rules for companies with foreign ownership, sources say

19 May 2025

By Shubham Batra and Sarita Chaganti Singh NEW DELHI (Reuters) -India is planning to tighten foreign ownership rules, two sources said, in a move that may have significant implications for businesses ranging from e-commerce to pharmaceuticals. The changes would redefine how India views foreign-owned companies, whether directly or indirectly, making them subject to foreign direct …

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Six officials of India’s IndusInd Bank under investigation for insider trading, sources say

19 May 2025

By Jayshree P Upadhyay and Siddhi Nayak MUMBAI (Reuters) -India’s markets regulator is investigating six IndusInd Bank officials for insider trading to determine if they sold stock options while being aware of accounting lapses at the bank before these were publicly disclosed, two sources with direct knowledge of the matter said. The Securities and Exchange …

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India threatens two offshore funds holding Adani shares with penalties, document shows

19 May 2025

By Jayshree P Upadhyay MUMBAI (Reuters) -India’s markets regulator has threatened two Mauritus-based funds with investments in the Adani Group that they could face penalties and cancellation of licences for not sharing shareholding details despite repeated requests over two years, according to a document reviewed by Reuters. The Adani Group and its 13 offshore investors …

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Vodafone Idea petition for debt waivers rejected by Indian court

19 May 2025

(Reuters) -India’s Vodafone Idea had its petition to waive more than $5 billion in debt it owes to the government rejected by the country’s top court on Monday, dealing a major setback to the telecoms giant. The company has struggled to pay outstanding spectrum and revenue-sharing dues since a landmark 2019 Supreme Court order widened …

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India’s Protean eGov sinks on ouster from key government project

19 May 2025

(Reuters) -Shares of Protean eGov Technologies tumbled 20% on Monday after the company said it was ruled out of bidding for an Indian government project, creating doubt about a service that accounts for nearly half of its revenue. Protean has been managing applications for Permanent Account Numbers, or PAN cards — used to maintain every …

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Vodafone Idea seeks court help after India rejects request on dues, documents show

19 May 2025

By Arpan Chaturvedi NEW DELHI (Reuters) -Vodafone Idea has gone to India’s Supreme Court to challenge the government’s rejection of a request by the debt-saddled telecom giant to waive more than $5 billion it owes the government, documents show. The government on April 29 rejected the request by Vodafone Idea CEO Akshaya Moondra for a …

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Rupee to track trade deal cues; bond yields seen rangebound

19 May 2025

By Jaspreet Kalra and Khushi Malhotra MUMBAI (Reuters) -The Indian rupee is likely be rangebound this week as markets watch for updates on U.S.-India trade talks, while bond traders await a possible announcement on the central bank’s surplus transfer to the government. The rupee closed at 85.5050 on Friday, down 0.1% week-on-week as steady dollar …

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