Reuters India Business

By Munsif Vengattil and Dhwani Pandya BENGALURU (Reuters) -U.S. chip firm Nvidia on Friday announced AI partnerships with Indian conglomerates Reliance Industries and Tata Group to develop cloud infrastructure and language models, as well as generative applications. The deals with two of India’s largest business houses will help the U.S. chip firm deepen inroads to …

Nvidia strikes deals with Reliance, Tata in deepening India AI bet Read More »

MUMBAI (Reuters) – The Reserve Bank of India will wind down, in phases, the incremental cash reserve ratio (I-CRR) requirement imposed on banks by Oct. 7, it said on Friday. The RBI said it will release 25% of the I-CRR funds on Sept. 9, another 25% on Sept. 23 and the rest on Oct. 7. …

India cenbank to wind down incremental cash reserve ratio in phases Read More »

By Jaspreet Kalra and Nimesh Vora MUMBAI (Reuters) – Elevated oil prices pose a challenge to the Indian rupee, and a sustained increase could push the currency to record lows against the U.S. dollar, the head of global foreign exchange at Jefferies told Reuters in an interview. “With oil breaking higher again, the rupee is …

Indian rupee to shift to 83-85/USD if oil price sticks up – Jefferies global FX head Read More »

By Steve Holland and Trevor Hunnicutt WASHINGTON (Reuters) -The U.S., Saudi Arabia, India and other nations are discussing a possible infrastructure deal that could reconfigure trade between the Gulf and South Asia, linking Middle Eastern countries by railways and connecting to India by port, according to U.S. officials aware of the conversations. The talks, which …

US, Saudi Arabia, India discuss possible rail, port deal -sources Read More »

By Nimesh Vora MUMBAI (Reuters) – The Reserve Bank of India’s defence to prevent the rupee from sliding to a record low has likely extended to currency futures, three bankers and two analysts said on Friday. Earlier this week, Reuters reported that the RBI has been intervening in non-deliverable forwards and the onshore over-the-counter (OTC) …

Indian cenbank’s currency defence has likely extended to rupee futures -traders Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee rose on Friday morning amid an uptick in most Asian peers, but traders reckoned that the respite may be brief. The rupee was at 83.1625 to the U.S. dollar as of 11:19 a.m. IST, up from its record closing low of 83.21 in the previous session. …

Indian rupee inches up, but sustainable recovery unlikely – traders Read More »

By Rama Venkat BENGALURU (Reuters) -Indian shares inched up to their highest in more than one month on Friday, led by gains in energy stocks, to extend a five-session winning streak and largely ignoring the softness in global equities. The Nifty 50 index was up 0.1% at 19,739 by 10:43 a.m. IST, while the S&P …

Indian shares top one-month highs, set for best week in 2 months Read More »

BENGALURU (Reuters) – India’s Kotak Mahindra Bank said on Friday that the Reserve Bank of India has approved the appointment of Dipak Gupta as the interim managing director and CEO for two months. Gupta’s appointment is effective after the RBI’s approval. The appointment comes after billionaire Uday Kotak, who founded and led Kotak Mahindra, resigned …

India’s Kotak Mahindra Bank gets RBI nod for appointing interim MD, CEO Read More »