Reuters India Business

Indian tribunal upholds Go First bankruptcy in setback to lessors

22 May 2023

By Arpan Chaturvedi and Dhanya Skariachan NEW DELHI (Reuters) -An Indian appeals tribunal upheld insolvency proceedings against Go First on Monday, throwing a spanner in the works for the airline’s lessors, who are attempting to take back their planes. At least three leasing companies, including SMBC Aviation Capital, had challenged a tribunal ruling granting Go Airlines …

Indian tribunal upholds Go First bankruptcy in setback to lessors Read More »

India central bank pushes for stronger governance at banks

22 May 2023

By Siddhi Nayak and Nikunj Ohri MUMBAI (Reuters) – India’s central bank on Monday pushed the country’s lenders to strengthen their boards and increase focus on managing risk. At a meeting with senior management of government-owned banks on Monday, Reserve Bank of India Governor Shaktikanta Das asked lenders to strengthen governance so that they are …

India central bank pushes for stronger governance at banks Read More »

India’s economy sustaining recent growth momentum, inflation slowing – RBI

22 May 2023

By Swati Bhat MUMBAI (Reuters) – India’s economy has sustained the growth momentum seen in the last fiscal quarter of 2022/23, while latest inflation outcome has been better than forecast, the Reserve Bank of India said on Monday. Growth in the first quarter of 2023/24 is expected to be driven by private consumption, a revival …

India’s economy sustaining recent growth momentum, inflation slowing – RBI Read More »

India’s Shree Cement reports 15% fall in Q4 profit on rise in input costs

22 May 2023

BENGALURU (Reuters) – Shree Cement Ltd, India’s second-biggest cement company by market capitalisation, reported a 15.3% fall in fourth-quarter profit on Monday as higher input costs outpaced growth in revenue. The company reported a profit of 5.46 billion Indian rupees ($66.76 million) for the quarter ended March 31, compared to 6.45 billion rupees a year …

India’s Shree Cement reports 15% fall in Q4 profit on rise in input costs Read More »

Indian Oil Corp: Middle East deals squeezed out by Russian crude

22 May 2023

DUBAI (Reuters) – The chairman of Indian Oil Corporation , the country’s top refiner by capacity, on Monday said he remained committed to term contracts with the Middle East but spot purchases from the region have fallen as more Russian crude has been imported. “Spot purchases have gone down because somewhere there has to be …

Indian Oil Corp: Middle East deals squeezed out by Russian crude Read More »

India’s latest currency note exchange seen less disruptive than 2016

22 May 2023

By Siddhi Nayak and Rajendra Jadhav MUMBAI (Reuters) – India is bracing for a second currency note exchange program in less than seven years, pulling its 2,000 rupee note out of circulation in an exercise that comes ahead of a series of crucial state elections. The withdrawal of the economy’s highest denomination note is expected …

India’s latest currency note exchange seen less disruptive than 2016 Read More »

India’s TCS receives $1.83-billion BSNL contract for 4G services

22 May 2023

BENGALURU (Reuters) -A consortium led by India’s Tata Consultancy Services received an order of more than 150 billion rupees ($1.83 billion) from state-run Bharat Sanchar Nigam Ltd (BSNL) to deploy a 4G network across the country, the company said on Monday. The order comes as India’s IT services companies grapple with demand uncertainty. TCS, India’s …

India’s TCS receives $1.83-billion BSNL contract for 4G services Read More »

India’s domestic demand strong but external pressures remain – govt report

22 May 2023

MUMBAI (Reuters) -India’s economy could see risks to growth and inflation due to challenges in the country’s external sector and weather-related uncertainties, but domestic demand remains strong, the finance ministry said on Monday. “Going forward, several factors, such as weaker-than-expected oil supply, higher-than-anticipated demand from China, intensification of geo-political tension and unfavourable weather conditions,” may …

India’s domestic demand strong but external pressures remain – govt report Read More »

India’s PhonePe raises additional $100 million from General Atlantic

22 May 2023

BENGALURU (Reuters) -Walmart Inc-owned Indian payments firm PhonePe on Monday said that it has secured an additional $100 million from private equity firm General Atlantic, in the latest round of its ongoing $1 billion fundraising. Including the latest round, PhonePe has raised a total of $850 million so far. PhonePe is India’s most valuable payments …

India’s PhonePe raises additional $100 million from General Atlantic Read More »

India’s cenbank expects most 2,000-rupee notes to be returned by end-Sept – chief

22 May 2023

NEW DELHI (Reuters) – India’s central bank expects most currency notes of 2,000 rupees denomination to be returned to banks by the end of September, Governor Shaktikanta Das said on Monday, adding that there is no reason for people to rush to lenders for exchange. The Reserve Bank of India said on Friday that notes …

India’s cenbank expects most 2,000-rupee notes to be returned by end-Sept – chief Read More »

Close Bitnami banner
Bitnami