By Mayank Bhardwaj NEW DELHI (Reuters) -India is expected to cut the floor price it has set for basmati rice exports, government and industry sources said on Tuesday, after farmers and exporters complained it was damaging trade. The government is likely to bring down the floor price, or minimum export price (MEP) for basmati rice, …
India likely to cut floor price for basmati rice exports, sources say Read More »
By Ashitha Shivaprasad (Reuters) – Safe-haven gold eased on Monday, hitting pause after jumping to within striking distance of the key $2,000 level in the last session, as traders positioned for further developments on the Middle East conflict and U.S. economic data. Spot gold fell 0.3% to $1,976.19 per ounce by 1:41 p.m. ET (1741 …
Gold rally cools as traders eye MidEast developments, US data Read More »
NEW DELHI (Reuters) -India’s fiscal position remains solid with steady revenue growth, and headline inflation is likely to remain within the target band, the government said on Monday. “Revenues generated from direct and indirect taxes have exhibited steady growth and are indicative of the strength of underlying economic activity and a broadening tax base,” India’s …
By Nimesh Vora and Siddhi Nayak MUMBAI (Reuters) – The maturing of the Reserve Bank of India’s $5 billion swap on Monday led to a surge in demand for cash dollars and a drop in the overnight swap rate, but did not cause major disruptions in the premium and spot forex markets. The RBI’s dollar/rupee …
India cenbank’s $5 billion swap maturity causes flutter, but no major turbulence Read More »
By Ira Dugal and Swati Bhat MUMBAI (Reuters) – India’s monetary policy committee’s (MPC) decision to reinforce the 4% retail inflation target follows inflation returning to its 2%-6% comfort zone, but does not necessarily signal rates will remain higher for longer, two external members of the committee told Reuters. India’s inflation breached the rate-setting panel’s …
By Sarita Chaganti Singh and Aditi Shah NEW DELHI (Reuters) – Japan’s Toyota Motor is lobbying the Indian government to cut taxes on hybrid vehicles by as much as one-fifth, arguing they are far less polluting than petrol cars but do not get commensurate policy treatment, a company letter shows. The world’s largest carmaker plans …
Toyota lobbies India to cut hybrid-car taxes as much as 21% – letter Read More »
By Siddhi Nayak MUMBAI (Reuters) -Two of India’s top private banks – ICICI Bank and Kotak Mahindra Bank – reported a sharp increase in net profits for the July-September quarter, as strong growth in the economy helped drive consumer loans. ICICI Bank, the country’s second largest private lender, posted a 35.8% rise in standalone net …
Top private Indian banks report strong Q2 profit rise as loan growth continues Read More »
By Siddhi Nayak and Ira Dugal MUMBAI (Reuters) -India’s central bank has approved the appointment of veteran banker Ashok Vaswani as managing director and chief executive of Kotak Mahindra Bank, the private lender said in an exchange filing on Saturday. The appointment, subject to shareholders’ approval, is for a period of three years after Vaswani …
India Kotak Mahindra Bank gets cenbank nod to appoint Ashok Vaswani as MD, CEO Read More »
MUMBAI (Reuters) – India’s Yes Bank reported a 47% increase in quarterly net profit on Saturday, helped by a drop in loan-loss provisions and healthy loan growth. The Mumbai-based private lender’s standalone net profit rose to 2.25 billion Indian rupees ($27.1 million) for the July-September quarter from 1.53 billion rupees for the same period a …
India’s Yes Bank posts 47% rise in Q2 quarterly profit Read More »
MUMBAI (Reuters) – India’s Kotak Mahindra Bank reported a 24% increase in second-quarter net profit on Saturday, buoyed by healthy core lending income and robust loan growth. The Mumbai-based private lender’s standalone net profit rose to 31.91 billion Indian rupees ($383.8 million) in the July-September quarter, from 25.81 billion rupees in the same period last …
India’s Kotak Mahindra Bank net profit jumps 24% in Q2, meets estimates Read More »
