Reuters India Business

(Reuters) – India’s annual diesel consumption is expected to rise by 3%-4% in the current fiscal year to March 31, said V. Satish Kumar, chairman of Indian Oil Corp (IOC). India’s annual diesel demand in April-September, half of this fiscal year, rose 1% to 44.4 million tons, according to government data, even though heavy rains …

India’s diesel consumption to rise 3%-4% in current fiscal year, says Indian Oil chair Read More »

(Reuters) -Shares of Indian fintech firm Paytm jumped nearly 6% on Wednesday after the country’s payments regulator allowed the company to sign new users for digital payments via UPI, which analysts said removed a key regulatory overhang. UPI, or Unified Payments Interface, is India’s home-grown real-time payments system that allows users to transfer money digitally …

Indian payments firm Paytm’s shares jump as nod for new UPI users clears key risk Read More »

(Reuters) -The Mukesh Ambani-led Reliance Group firm Jio Financial Services is in talks with Germany-based Allianz SE to set up an insurance partnership in India, Bloomberg News reported on Wednesday. Allianz and Jio are looking to set up a general insurance and a life insurance company in India, the report said, citing people familiar with …

India’s Jio Financial in talks with Allianz for insurance partnership, Bloomberg News reports Read More »

By Rajendra Jadhav, Mayank Bhardwaj and Urvi Dugar NEW DELHI (Reuters) -India scrapped the export tax on parboiled rice, the government said in an official order on Tuesday, as inventories in the world’s biggest exporter of the grain surged and the country is set to produce a bumper crop after copious monsoon rains. Last month, …

India scraps parboiled rice export tax to boost shipments Read More »

By Anjana Anil and Sherin Elizabeth Varghese (Reuters) – Gold climbed 1% to hit an all-time peak on Tuesday as factors including safe-haven demand, spurred by U.S. election uncertainties and the Middle East war, combined with expectations of further monetary easing to amplify bullion’s surge. Spot gold rose 0.9% to $2,746.69 per ounce by 1:40 …

Gold scales record peak as US election jitters drive safe-haven rush Read More »