Reuters India Business

NEW DELHI (Reuters) -India’s cabinet has approved a revival package of 890.47 billion rupees ($10.79 billion) for state telecom operator Bharat Sanchar Nigam Ltd (BSNL), CNBC-TV 18 reported on Wednesday citing sources. The development comes days after BSNL partnered with top software company Tata Consultancy Services to help deploy 4G network across the country when …

India cabinet okays $11 billion revival plan for state-owned BSNL – CNBC-TV18 Read More »

By Aditi Shah, Joanna Plucinska and Tim Hepher ISTANBUL (Reuters) – The diversion of a U.S.-built Air India jetliner to Russia with engine problems has thrust industry tensions surrounding Russian airspace into the spotlight – just a day after the head of a major American carrier predicted an almost identical scenario. A global industry meeting …

Analysis-Diverted Indian jet lands in middle of Russia airspace row Read More »

By Siddhi Nayak MUMBAI (Reuters) – About three-fourths of Indians are choosing to deposit the recently withdrawn 2000-rupee notes into bank accounts so far rather than exchanging them for smaller denominations, with the trend likely to boost bank deposits, bankers said. In May, the Reserve Bank of India (RBI) said it would withdraw these high-value …

About 80% of Indians choose to deposit withdrawn 2000-rupee notes, boost bank deposits – bankers Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee was trading higher on Wednesday tracking Asian peers, but dollar buying by oil companies capped its advance, traders said. The rupee was at 82.55 to the U.S. dollar by 10:30 a.m. IST, up from 82.6050 in the previous session. The “same story is playing out” of …

Rupee inches up, but “incessant” dollar bids remain a hindrance – trader Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares advanced on Wednesday, led by consumer stocks, ahead of the Reserve Bank of India’s monetary policy decision and on hopes of an interest rate pause by other major central banks. The blue-chip Nifty 50 index was up 0.27% at 18,648.60 as of 10:06 a.m. IST, while the benchmark …

FMCG stocks lead Indian shares higher ahead of RBI rate decision Read More »

By Sarita Chaganti Singh NEW DELHI (Reuters) -India will offer 37.6 billion rupees ($455.2 million) in incentives to companies setting up battery storage projects totaling 4,000 megawatt hours (MWh) under a scheme announced earlier this year, two government sources said. The scheme, details of which were not previously known, is intended to boost battery storage …

India to offer $455 million in incentives for battery storage projects -sources Read More »

(Reuters) – India’s markets appeals tribunal on Tuesday set aside a ruling by the markets regulator cancelling the licence of Brickwork Ratings India, according to an order published on the tribunal’s website. The Securities and Exchange Board of India (SEBI) had canceled the license of the rating agency in October in a case of alleged …

Tribunal quashes India market regulator’s order cancelling Brickwork Ratings’ licence Read More »