Reuters India Business

By Siddhi Nayak and Ira Dugal BENGALURU (Reuters) -India’s central bank on Thursday tightened norms for personal loans and credit cards, raising the risk of slowing loan growth. The tighter rules, in the form of higher capital requirements, will make such loans costlier and likely curb growth in these categories, which have outpaced the overall …

India cenbank tightens rules for personal loans, credit cards amid demand surge Read More »

By Anisha Sircar (Reuters) – Europe’s largest fund manager, Amundi’s investment institute, expects emerging markets (EM) to benefit next year from better economic prospects than developed markets, and as the U.S. Federal Reserve embarks on a rate cutting cycle. The Fed is likely to begin pivoting to rate cuts in mid-2024, which is “positive for …

Emerging markets to gain from Fed easing, better growth prospects: Amundi’s Berardi Read More »

MUMBAI (Reuters) – The Indian government does not expect to conclude the sale of IDBI Bank by the end of the financial year on March 31, 2024, a top finance ministry official told reporters. The federal government, which owns 45.48% of IDBI Bank, and state-owned Life Insurance Corp of India, which holds 49.24%, together plan …

India doesn’t expect to complete sale of IDBI Bank this fiscal year Read More »

By Anjana Anil (Reuters) – Gold prices rose on Thursday, helped by expectations that the Federal Reserve’s policy tightening cycle has come to an end, although a higher U.S. dollar kept gains in check. Spot gold gained 0.4% to $1,966.41 per ounce, as of 0754 GMT. U.S. gold futures rose 0.3% to $1,969.10. “Gold’s strong …

Gold gains on Fed pause hopes despite stronger US dollar Read More »

NEW DELHI (Reuters) -India has cut the windfall tax on diesel and crude oil on Thursday, according to a government notification. The government cut the windfall tax on crude oil to 6,300 Indian rupees ($75.70) a tonne from 9,800 rupees a tonne while cutting the diesel windfall tax to 1 rupee per litre from 2 …

India cuts windfall tax on diesel, crude oil Read More »

By Nimesh Vora MUMBAI (Reuters) – The sharp widening in India’s merchandise trade deficit in October to a record level, fuelled by a broad-based rise in imports, will likely be an outlier, analysts said. India’s merchandise trade deficit rose to an all-time high of $31.46 billion in October, widening sharply from the $19.37 billion print …

India’s record merchandise trade deficit in Oct likely to be a one-off – analysts Read More »