Reuters India Business

BENGALURU (Reuters) – Paytm received an administrative warning from India’s markets regulator for certain transactions with its banking unit in the fiscal year 2021-22, the fintech firm said in an exchange filing. The Securities and Exchange board of India (SEBI), in the latter dated July 15, said some transactions between Paytm and the now wound-down …

India’s Paytm gets warning from markets regulator for old transactions with banking unit Read More »

(Reuters) – The Indian government has raised the windfall tax on petroleum crude to 7,000 rupees ($83.78) per metric ton from 6,000 rupees per metric ton, effective from July 16, a notification issued on Monday showed. ($1 = 83.5510 Indian rupees) (Reporting by by Nikunj Ohri and Gursimran Kaur in Bengaluru; Editing by Devika Syamnath)

BENGALURU (Reuters) – Indian brokerage Angel One reported a higher first-quarter profit on Monday, boosted by a surge in orders amid increased trading activity. Consolidated profit increased by 32.6% year-on-year to 2.93 billion rupees ($35.1 million) in the three months to June 30. Indian benchmarks scaled record highs during the June quarter and logged their …

Indian brokerage Angel One’s Q1 profit rises as orders jump Read More »

NEW DELHI (Reuters) – India will tax all imports of aircraft components and aircraft engine parts at 5%, the civil aviation minister said on Monday, unifying the tax rate which earlier varied between 5% and 28%. The uniform rate, effective from Monday itself, was recommended by India’s Goods and Services Tax (GST) Council in June …

India implements uniform 5% tax for all aircraft, aircraft engine parts Read More »

BENGALURU (Reuters) -Indian budget carrier SpiceJet reported a fourth-quarter profit jump on Monday following a gain from a settlement with a financing agency and the airline said it was in talks to raise additional funds. The company’s standalone profit rose to 1.19 billion rupees ($14.2 million) in the fourth quarter ending March, from 168.6 million …

SpiceJet’s fourth-quarter profit jumps on gain from settlement with financing agency Read More »

By Rajendra Jadhav MUMBAI (Reuters) – India’s four-week platinum imports from mid June eclipsed 2023’s total as bullion dealers exploited a loophole by registering alloys containing around 90% gold as platinum to avoid higher duties, government and industry officials told Reuters. In that time frame dealers cleared 13 metric tons of these metal consignments valued …

Exclusive-India’s four-week platinum imports surpass 2023 total as gold shown as platinum Read More »

MUMBAI (Reuters) – India’s central bank on Monday asked lenders to give defaulting borrowers enough time to respond before they are classified as “fraud accounts,” following a judgment by the country’s top court. Banks will now have to issue a show-cause notice to fraudulent entities, with complete details of the fraud, the Reserve Bank of …

India cenbank says lenders must hear loan defaulters before declaring accounts ‘fraud’ Read More »

By Shivangi Acharya NEW DELHI (Reuters) -India’s merchandise exports rose to $35.2 billion in June from $34.32 billion a year ago, helped by increased shipments of engineering goods and commercial vehicles, data from the Commerce Ministry showed on Monday. Merchandise imports in Asia’s third-largest economy rose to $56.18 billion in the same month. As a …

India’s merchandise exports rise to $35.2 billion in June, trade ministry says Read More »