NEW DELHI (Reuters) – Indian lawmakers on Wednesday passed a data protection law that will dictate how tech companies process users’ data amid criticism that it will likely lead to increased surveillance by the government. The law will allow companies to transfer some users’ data abroad while giving the government power to seek information from …
India passes data protection law amid surveillance concerns Read More »
BENGALURU (Reuters) – Arvind Fashions, which houses brands such as US Polo and Calvin Klein in India, reported on Thursday a loss in the first quarter, pulled down by lacklustre demand as inflationary pressures prompted shoppers to tighten their purse strings. The Bengaluru-based company’s consolidated net loss widened to 164.3 million rupees ($1.98 million) for …
Indian retailer Arvind Fashions quarterly loss deepens on demand slump Read More »
BENGALURU (Reuters) – 3M India reported an over 53% rise in first-quarter profit, aided by strong demand in its transportation and electronics and safety and industrial businesses. The Bengaluru-based company, which makes everything from ‘Scotch’ tape and ‘Post-it’ notes to power tools and medical products, said its consolidated profit after tax rose to 1.29 billion …
‘Post-it’ maker 3M India’s Q1 profit rises on robust demand Read More »
By Dharamraj Dhutia and Swati Bhat MUMBAI (Reuters) -The Reserve Bank of India (RBI) will withdraw nearly one trillion rupees ($12.07 billion) from the banking system through a temporary increase in the amount of funds lenders set aside with the central bank, as it tries to keep a lid on inflation. Earlier in the day, …
India central bank to withdraw 1 trln rupees via incremental CRR Read More »
(Reuters) – Bajaj Electricals Ltd on Thursday reported a 13.6% decline in first-quarter profit, dragged by intermittent unseasonal rains and inflationary pressure, sending the consumer durables major’s shares down 3.2%. Consolidated net profit was 371.3 million rupees ($4.49 million) for the three months ended June 30, compared with 429.6 million rupees a year earlier. Overall …
India’s Bajaj Electricals Q1 profit falls as unseasonal rains, inflation hit demand Read More »
By Swati Bhat and Sudipto Ganguly MUMBAI (Reuters) -The Reserve Bank of India held its key lending rate steady on Thursday as expected but moved to reduce the amount of cash in banking system as inflation concerns resurfaced following higher-than-usual seasonal spikes in food prices in recent weeks. The monetary policy committee (MPC), which has …
India’s RBI holds rates steady but eyes food price spike; signals tighter policy Read More »
NEW DELHI (Reuters) – India has started importing tomatoes from Nepal, India’s finance minister said on Thursday amid a record high spike in prices in the country. The first lot of imports are likely to reach by Friday in Varanasi, Lucknow and Kanpur cities in northern India, Finance Minister Nirmala Sitharaman told the parliament. Tomato …
India starts importing tomatoes from Nepal amid price spike Read More »
MUMBAI (Reuters) – The Reserve Bank of India held its key repo rate steady for a third straight policy meeting on Thursday, as widely expected, as inflation concerns resurfaced following higher-than-usual seasonal spikes in food prices in recent weeks. The monetary policy committee kept the key lending rate, or repo rate, unchanged at 6.50%. The …
Changes to India’s Standing Deposit Facility Rate since April 2022 Read More »
MUMBAI (Reuters) -The Reserve Bank of India (RBI) on Thursday said it will put in place a framework to ensure greater transparency in resetting interest rates and tenors on floating rate loans, like housing credit. As policy interest rates rise, lenders pass on the burden to customers by either raising their monthly payments or increasing …
Indian cenbank seeks more rate transparency in floating rate retail loans Read More »
(Reuters) – The Reserve Bank of India’s key lending rate was held steady for a third straight policy meeting on Thursday, as widely expected, as inflation concerns resurfaced following higher-than-usual seasonal spikes in food prices in recent weeks. The monetary policy committee (MPC), which has three members from the central bank and three external members, …
India’s central bank holds key rate steady as expected Read More »
