Reuters India Business

By Jaspreet Kalra and Siddhi Nayak MUMBAI (Reuters) – The Reserve Bank of India’s (RBI) increased scrutiny of banks and other financial firms has resulted in a spate of supervisory restrictions, most recently on Kotak Mahindra Bank, India’s fourth largest private lender by assets. On Wednesday the RBI barred Kotak Mahindra Bank from taking on …

Factbox-India central bank scrutiny of financial firms leads to restrictions Read More »

BENGALURU (Reuters) -South Korea’s Hyundai Motor Group will launch its first India-manufactured electric vehicles by 2025 as the parent of the Hyundai and Kia brands looks to boost its presence in the nascent space dominated by Tata Motors. Production of Hyundai’s locally manufactured EVs will begin by the end of 2024 and will be launched …

South Korea’s Hyundai, Kia to launch first India-made EVs next year Read More »

MUMBAI (Reuters) – The Indian arm of global asset manager Invesco has settled charges of mutual fund rules violations with the country’s market regulator, according to a settlement order uploaded on the regulator’s website on Wednesday. Invesco Asset Management India and five others charged, including the firm’s chief executive, settled by paying 49.8 million rupees …

Invesco’s India arm settles charges of rule violation with markets regulator Read More »

By Aditya Kalra and Kanjyik Ghosh (Reuters) – JioCinema, the streaming platform run by India’s Reliance Industries, on Thursday cut prices of its premium offering to as low as 29 rupees ($0.3480) a month, heating up competition for Netflix and Amazon Prime. Reliance runs multiple TV channels and JioCinema streaming app through its media unit …

Ambani’s JioCinema cuts subscription prices as India’s streaming war heats up Read More »

NEW DELHI (Reuters) – India has agreed to allow oil marketing companies to procure ethanol by diverting an extra 800,000 metric tons of sugar for biofuel production, a government source said on Wednesday. Concerns over sugar production due to below normal monsoon rains between June and September had led the world’s second-largest to cap the …

India lets oil firms procure extra ethanol from sugar mills, source says Read More »

By Siddhi Nayak and Jaspreet Kalra MUMBAI (Reuters) -India’s central bank said on Wednesday it had barred Kotak Mahindra Bank from taking on new customers via its online and mobile banking channels, and from issuing new credit cards, due to information technology-related deficiencies. The Reserve Bank of India (RBI) said it had taken the action …

India central bank bars Kotak Mahindra Bank from taking on new clients digitally Read More »

By M. Sriram MUMBAI (Reuters) -Goldman Sachs has hired two senior bankers in India to cash in on growing dealmaking and investor interest in the South Asian country, three sources with direct knowledge told Reuters on Wednesday. Sunil Khaitan will be Goldman’s India head of financing and Kamna Sahni India head of Mergers & Acquisitions …

Goldman Sachs taps BofA bankers for India dealmaking roles, sources say Read More »

By Navamya Ganesh Acharya and Praveen Paramasivam BENGALURU/CHENNAI (Reuters) – Top fast-food franchisees in India are likely to report a slump in quarterly earnings as cash-strapped consumers continued to cut back on dining out and ordering in, analysts said, spurning the hundreds of new restaurants that operators opened in 2023. Pizza franchisees such as Jubilant …

PREVIEW-New outlets, cheaper options fail to revive fast-food earnings in India Read More »

By Rishika Sadam HYDERABAD (Reuters) – Hitachi Energy is looking to open more global capability centers in India to expand local operations, amid growing energy demand and a push to scale up renewable energy generation in the country. Zurich-based Hitachi Energy, which makes transformers and large-scale power transmitters, operates a GCC in the country, where …

Hitachi Energy eyes expansion in India amid rising power demand Read More »