Reuters India Business

By Munsif Vengattil and Aditi Shah NEW DELHI (Reuters) – An Indian government panel has recommended that automakers who step up connectivity features in cars to communicate with other vehicles and external systems should win better ratings on crash tests, a draft report showed, in a bid to boost road safety. In a country with …

Exclusive-Indian govt panel wants car ratings tied to improved connectivity -draft Read More »

BENGALURU (Reuters) – Shares of Bank of Baroda fell nearly 4% on Wednesday, a day after the Reserve Bank of India stopped the state-run lender from adding customers to its mobile app citing “certain material supervisory concerns.” Shares of the bank were last down 3.4% at 10:59 a.m. IST. It was also the top drag …

India’s Bank of Baroda falls after RBI ban on adding new app customers Read More »

BENGALURU (Reuters) – Brokerage CLSA has increased its exposure to Indian equities, citing prospects of strong economic growth, profitability and credit demand, and changed its portfolio allocation to a 20% overweight stance from 40% underweight earlier. The brokerage, which had an underweight position on India between October 2022 and March 2023, noted that it persisted …

CLSA turns overweight on Indian equities on strong growth, earnings prospects Read More »

MUMBAI (Reuters) -The Reserve Bank of India (RBI) on Tuesday stopped state-run Bank of Baroda from adding customers to its mobile app, citing “certain material supervisory concerns”. The bank will be allowed to do further onboarding of customers to its bob World app only after rectifying certain deficiencies, the central bank said, without giving any …

India cenbank bars Bank of Baroda from adding customers to mobile app Read More »

NEW DELHI (Reuters) -India’s financial crime agency, the Enforcement Directorate (ED), on Tuesday arrested a Chinese national who works for smartphone maker Vivo in a case of alleged money laundering, the latest challenge for the company in a key market. An Indian court sent the Vivo executive to three days of custody following a request …

Factbox-Vivo’s India troubles mount as executive arrested Read More »

By Arpan Chaturvedi and Aditya Kalra NEW DELHI (Reuters) -India’s financial crime agency on Tuesday arrested four industry executives including one Chinese national working for smartphone maker Vivo in India in a case of alleged money laundering, according to legal papers and lawyers working on the case. The arrest adds to the legal troubles of …

India arrests Vivo exec, three others in money laundering case Read More »

By Hritam Mukherjee and Nandan Mandayam BENGALURU (Reuters) – A festive season bump would do little to spur a “complete demand turnaround” for tractors and two-wheelers in rural India, as high prices and the driest monsoon in five years have kept festival spending sentiment muted, analysts and experts noted. India has a line-up of festivals …

India’s festive season bump unlikely to jumpstart rural auto demand – experts Read More »

MUMBAI (Reuters) -India’s economic growth forecast for the current fiscal year has been raised to 6.3% from 6.1% earlier, the International Monetary Fund said in its October 2023 World Economic Outlook (WEO) report that was released on Tuesday. The global lender expects retail inflation in the South Asian nation to rise to 5.5% in 2023/24 …

IMF raises India’s FY24 GDP growth forecast to 6.3% – report Read More »

By Milounee Purohit BENGALURU (Reuters) – Indian retail inflation likely eased to 5.50% last month, within the Reserve Bank of India’s (RBI) tolerance band, on moderating food price rises and government subsidies that offset a surge in the cost of crude oil, a Reuters poll found. The RBI kept monetary policy unchanged on Oct. 6 …

Indian inflation seen easing to 5.50% in Sept on softening food price rises- Reuters poll Read More »