Reuters India Business

BENGALURU (Reuters) – Indian metals-to-oil conglomerate Vedanta will raise up to 10 billion rupees (nearly $120 million) by issuing non-convertible debentures through a private placement, the company said on Thursday. In the past two months, Vedanta’s board has already approved raising up to $300 mln through debentures and a further up to $1 billion, although …

India’s Vedanta to raise $120 million via debt issue Read More »

By Nikunj Ohri and Bhakti Tambe NEW DELHI(Reuters) – The Indian government has asked the central bank to exempt sovereign funds from a recent set of tightened rules concerning investments in alternate investment funds (AIFs), according to two government sources and a fund official. In December, the Reserve Bank of India (RBI) asked banks and …

India seeks exemption for sovereign funds from RBI’s alternate investment fund rules, sources say Read More »

By Jaspreet Kalra MUMBAI (Reuters) -India’s Financial Intelligence Unit (FIU) has imposed a fine of 188.2 million rupees ($2.25 million) on the world’s largest crypto exchange, Binance, for operating in the country in violation of local anti-money laundering regulations. India requires virtual digital asset service providers like crypto exchanges to be registered with the FIU …

India financial watchdog imposes $2.25 million penalty on crypto exchange Binance Read More »

By Indranil Sarkar and Arpan Chaturvedi BENGALURU (Reuters) – Shares of Indian liquor firm Som Distilleries and Breweries fell as much as 9% on Thursday after authorities said they would impound one of the group’s distilleries, where officials said 59 children had been working illegally. Police launched an investigation into Som after the National Commission …

Indian liquor firm Som’s shares plunge amid child labour concerns Read More »

By Bharath Rajeswaran and Kashish Tandon BENGALURU (Reuters) -Indian shares were mostly muted on Thursday as investors booked profits after the benchmarks hit record highs this week, and as financial and pharmaceutical stocks dragged. The NSE Nifty 50 rose 0.12% at 23,544.55, while the S&P BSE Sensex added 0.09% to 77,407.50, as of 11:10 a.m. …

Indian shares muted as financials, pharma stocks weigh Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was little changed on Thursday as weakness in Asian currencies offset a broadly positive bias on the rupee amid expectations of portfolio inflows and the Reserve Bank of India’s stern defence of the currency. The rupee was at 83.4925 against the U.S. dollar as of 10:25 …

Rupee edges lower as decline in Asian peers counters upward bias Read More »

By Swati Bhat MUMBAI (Reuters) – The Reserve Bank of India said on Monday high food prices was impeding the recent easing in inflation, causing its efforts to rein in prices remain a “work in progress”. The RBI cautioned elevated and volatile food prices could cause headline inflation numbers to potentially rise after a temporary …

India cenbank says high food prices hindering disinflation trajectory Read More »

MUMBAI (Reuters) – The Reserve Bank of India (RBI) sold $3.65 billion on a net basis in the spot foreign exchange market in April, data released on Wednesday as part of the central bank’s monthly bulletin showed. The RBI said it purchased nearly $8 billion and sold $11.6 billion. In March, the central bank had …

India cenbank sold net $3.6 billion in spot forex market in April – bulletin Read More »