Reuters India Business

(Reuters) -Kotak Mahindra Bank will buy Standard Chartered Bank’s personal loan business in India, the Indian lender said on Friday, leaving the U.K.-based company to focus on its wealth and investment banking business in Asia’s third-largest economy. StanChart’s personal loan book had an outstanding of 41 billion rupees ($488 million) as of Sept. 30, Kotak …

StanChart sells India personal loan business to Kotak Mahindra Bank Read More »

By Shivangi Acharya NEW DELHI (Reuters) – India is expected to limit imports of laptops, tablets and personal computers after January, two government sources with direct knowledge of the matter said, a move to push companies such as Apple to increase domestic manufacturing. This plan, if implemented, could disrupt an industry worth $8 billion to …

India plans laptop import curbs to boost local manufacturing, sources say Read More »

By Rajendra Jadhav and Daksh Grover (Reuters) – Physical gold dealers in India were forced to offer discounts this week, as record high prices dampened demand ahead of a key festival, while discounts in top consumer China narrowed. In India domestic prices hit a record high of 77,641 rupees ($923.85) per 10 grams, up more …

Record prices dull India demand ahead of key festival Read More »

NEW DELHI (Reuters) – The new chairman of Tata’s philanthropic arm, Tata Trusts, is likely to be appointed to the board of the group company that operates the $165 billion salt-to-software conglomerate, a source with direct knowledge of the matter said on Friday. Noel Tata, the half-brother of Ratan Tata who died last week, has …

Noel Tata likely to join board of India’s Tata Sons, source says Read More »

By Dharamraj Dhutia and Bhakti Tambe MUMBAI (Reuters) – Lower-rated Indian companies and first-time borrowers will benefit the most from the market regulator’s recent move that will provide liquidity into the corporate bonds market, three merchant bankers said. Companies issuing listed bonds can give investors a buyback option for a certain amount a year after …

India’s new corporate bond buyback option to help low-rated, new firms, bankers say Read More »

SINGAPORE (Reuters) – Indian Oil Corp, the country’s largest refiner, has bought 4 million barrels of U.S. West Texas Intermediate crude via a tender for January delivery, trade sources said on Friday. Occidental and Mitsui sold 2 million barrels of WTI each at about $3 a barrel above dated Brent on cost and freight basis, …

India’s IOC buys U.S. WTI crude for January delivery Read More »