Reuters India Business

MUMBAI/BENGALURU (Reuters) – India’s central bank on Tuesday asked online payment firms to monitor transactions-related activities of merchants on their platforms and ensure that they meet its fresh guidelines, in a series of moves aimed at tightening the scrutiny of the sector. India’s burgeoning yet relatively less-regulated online payments industry has come under the RBI’s …

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(Reuters) – Social media platform X said on Tuesday it withheld some posts in India containing political speech from elected politicians, political parties, and candidates for office after the country’s election commission ordered their takedown. Elon Musk-owned X said it disagreed with the election commission’s orders. “We call on the Election Commission to publish all …

Social media platform X withholds some political posts in India after election commission order Read More »

MUMBAI (Reuters) – Interest rate cuts in India are “off the table” in fiscal year 2024/25 given the change in the Federal Reserve’s policy path and strong growth in the South Asian nation, analysts at Morgan Stanley said on Tuesday. “We believe that improving productivity growth, rising investment rate, and inflation tracking above the target …

India rate cuts ‘off the table’ in 2024/25, Morgan Stanley says Read More »

BENGALURU (Reuters) – Shares of Jio Financial Services rose as much as 5% on Tuesday, a day after the company entered into a new joint venture with BlackRock to set up a wealth management and broking business in India. The stock was last up 3.5% at 366.65 rupees, while the broader market was down 0.7%. …

India’s Jio Financial Services rises 5% after BlackRock wealth management JV Read More »

(Reuters) – The Indian government has raised its windfall tax on petroleum crude to 9,600 rupees ($114.99) a metric ton from 6,800 rupees with effect from April 16, the government said on Monday. The tax, which is revised every fortnight, will remain unchanged at zero for diesel and aviation turbine fuel. The government had on …

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MUMBAI (Reuters) – Jio Financial Services said on Monday that it had entered into a new joint venture (JV) with U.S.-based BlackRock Inc to set up a wealth management and broking business in India less than a year after launching an asset management venture. Jio Financial Service, part of billionaire Mukesh Ambani-led Reliance Group, said …

BlackRock doubles down on India bet, signs new JV with Ambani’s Jio Financial Read More »