Reuters India Business

MUMBAI (Reuters) – Indian banks must ensure the presence of at least two whole time directors (WTDs), including the managing director and chief executive officer, on their boards, the Reserve Bank of India said on Wednesday. “Given the growing complexity of the banking sector, it becomes imperative to establish an effective senior management team in …

Indian banks’ boards must have at least two whole time directors – cenbank Read More »

By Sarita Chaganti Singh NEW DELHI (Reuters) -India has extended by eight months the operation of power plants using imported coal, as high consumption and poor supply deplete domestic stocks of the fuel, according to a government order reviewed by Reuters. The order invoked emergency powers in asking such plants, with a capacity of nearly …

India allows power plants using imported coal to run until next June Read More »

By Siddhi Nayak and Swati Bhat MUMBAI (Reuters) – India’s central bank is keen that banks pass on the benefits of higher interest rates to account holders by raising the rates they offer on savings’ deposits, but lenders are pushing back in a bid to bolster margins, several banking sources said. Savings accounts are low interest …

India cenbank nudges reluctant lenders to raise savings deposit rates Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee rose marginally on Wednesday, helped by retreating oil prices and U.S Treasury yields, while the dollar/rupee cash swap rate indicated that dollar liquidity was less than sufficient. The rupee was at 83.1500 to the U.S. dollar at 11:53 a.m. IST, up from its previous close of …

Rupee rises on oil pullback; dollar liquidity remains inadequate Read More »

BENGALURU (Reuters) -India’s Vedanta on Tuesday said Chief Financial Officer (CFO) Sonal Shrivastava has resigned amid a major structural overhaul announced last month. Ajay Goel, incumbent CFO at Indian edtech startup Byju’s, will return as Vedanta’s finance chief effective Oct. 30, the company said in a statement. Billionaire Anil Agarwal-led Vedanta announced plans to carve …

India’s Vedanta finance chief Sonal Shrivastava resigns Read More »