Reuters India Business

India cenbank looking to enhance fintech regulations – deputy Rabi Sankar

7 Jul 2023

MUMBAI (Reuters) – The Reserve Bank of India (RBI) is working on regulations that will be more “developmental” for financial technology, or fintech, companies, a deputy governor of the central bank said on Friday. “We are working on regulations (that) would be specific to fintech entities and the fintech ecosystem,” T Rabi Sankar said at …

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India may set mandates for green hydrogen use by industries -official

7 Jul 2023

NEW DELHI (Reuters) – India may set mandates for industries such as fertilisers and refineries to use green hydrogen, after consultations, the country’s renewable energy secretary said on Friday. “We cannot impose anything on the industry. We have made an enabling system (and) we will have consultations for green hydrogen mandates,” Bhupinder Singh Bhalla said …

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India needs tax reforms to boost small firms, says NITI Aayog member

6 Jul 2023

By Shivangi Acharya NEW DELHI (Reuters) – India needs to simplify its tax regime to ease the compliance burden on small and medium businesses, a member of the government’s top policy think tank said Thursday, as smaller firms may not have fully benefited from recent reforms. Small and medium businesses, which account for nearly a …

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India’s Dabur expects rise in Q1 sales as easing inflation boosts spending

6 Jul 2023

BENGALURU (Reuters) -Dabur India Ltd said on Thursday it estimated that first-quarter sales increased more than 10%, as easing inflation allowed customers to spend more on the consumer goods company’s products. Demand trends in both urban and rural India improved during the quarter ended June 2023, Dabur said. The country’s annual retail inflation cooled to …

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India’s state-run banks confident of withstanding macro shocks – govt

6 Jul 2023

NEW DELHI (Reuters) -India’s state-run banks are confident of withstanding any macroeconomic shocks and expect their outlook to improve, despite headwinds in the global banking sector, the finance ministry said on Thursday. The asset quality of India’s state-run banks has improved with gross non-performing assets – the measure of a bank’s bad loans – at …

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India’s HPCL aims to run Vizag refinery at expanded capacity from early 2024

6 Jul 2023

By Nidhi Verma NEW DELHI (Reuters) – India’s Hindustan Petroleum Corp Ltd (HPCL) hopes to operate its 15 million metric tonnes per year (tpy) Vizag refinery at full capacity early next year after commissioning some new secondary units geared to upgrade fuels, its head of refineries said on Thursday. In March, the state-controlled refiner raised …

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Rupee logs worst day in one month on hawkish Fed minutes, premiums plunge

6 Jul 2023

By Siddhi Nayak MUMBAI (Reuters) – The Indian rupee logged its worst day in a month against the dollar on Thursday, while far forward premiums plunged, as minutes of the U.S. Federal Reserve’s latest meeting indicated that further monetary policy tightening was likely this year. The rupee ended at 82.51 to the dollar compared with …

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