Reuters India Business

MUMBAI (Reuters) – India’s largest private lender HDFC Bank on Thursday said it has signed up over 100,000 customers and 170,000 merchants in pilot programmes using the central bank digital currency (CBDC). The lender also linked the CBDC, termed e-rupee, and United Payments Interface (UPI) for merchants and customers, which would enable payments through both …

HDFC Bank signs up over 100,000 customers in digital rupee pilots Read More »

CHENNAI (Reuters) – A decision by Taiwan’s Foxconn to withdraw from a $19.5 billion semiconductor joint venture with Vedanta is a “credit negative” for the Indian conglomerate’s UK parent Vedanta Resources, debt research firm CreditSights said on Thursday. Earlier this week, Foxconn said it had withdrawn from the JV, dumping a deal they had signed …

Foxconn-Vedanta JV split credit negative for UK conglomerate- CreditSights Read More »

(Reuters) – India, the world’s biggest rice exporter, is considering banning exports of most rice varieties, Bloomberg News reported on Thursday. The government is discussing a plan to ban exports of all non-Basmati rice, the report said, citing people familiar with the matter. (Reporting by Yana Gaur in Bengaluru; Editing by Himani Sarkar)

BENGALURU (Reuters) -Tesla has begun discussions with the Indian government for an investment proposal to set up a car factory in the country, with an annual capacity of as many as 500,000 electric vehicles, the Times of India reported on Thursday. The prices for the vehicles will start from 2 million rupees ($24,400.66), the report …

Tesla in talks with India to set up factory with up to 500,000 annual capacity – report Read More »

By Tanvi Mehta and Riddhima Talwani NEW DELHI (Reuters) -India’s decision to impose a 28% tax on funds that online gaming companies collect from their customers will not need further consultation and an early review is unlikely, the country’s revenue secretary said on Wednesday. The government’s decision, announced late on Tuesday, was met with dismay …

India says no need for rethink after online gaming tax backlash Read More »

BENGALURU (Reuters) -Budget carrier SpiceJet said on Wednesday top shareholder Ajay Singh would infuse 5 billion rupees ($60.85 million) into the troubled airline as it looks to return to full operations. SpiceJet has been scrambling to raise funds and restore operations for about a fourth of its fleet that has been grounded amid a string …

India’s SpiceJet says top shareholder to inject $61 million in airline Read More »