MUMBAI (Reuters) -India’s ICICI Bank on Saturday reported a 30% increase in fourth-quarter net profit helped by improved net interest income and growth in loans. Standalone net profit rose to a record 91.22 billion Indian rupees ($1.11 billion) from 70.19 billion a year earlier. That topped the 90.41 billion forecast by analysts, Refinitiv Eikon data …
India’s ICICI Bank posts 30% jump in Q4 net profit Read More »
MUMBAI (Reuters) -India’s Yes Bank on Saturday reported a near 45% drop in net profit year-on-year for the January-March quarter as provisions for bad loans and security receipts increased. Net profit fell to 2.02 billion Indian rupees ($24.63 million) for the reporting quarter from 3.67 billion rupees in the same period a year earlier. Compared …
India Yes Bank’s net profit drops 45% in January-March on higher provisions Read More »
By Jayshree P Upadhyay (Reuters) – India’s market regulator is planning to permit a new category of mutual fund schemes where asset managers’ charges will partly be linked to performance, according to an official document reviewed by Reuters and a source directly familiar with the matter. As part of the proposal, the Securities and Exchange …
Indian regulator plans to allow mutual funds with performance-based fees Read More »
By Deep Kaushik Vakil (Reuters) – Gold prices fell sharply on Friday and were headed for their worst week in eight as hawkish remarks by U.S. Federal Reserve officials through the week bolstered bets for at least one more interest rate hike and buoyed the dollar. Spot gold dropped 1.2% to $1,979.63 per ounce by …
Gold retreats to mark weekly loss on hawkish Fed Read More »
By Sabrina Valle and Nidhi Verma HOUSTON/NEW DELHI (Reuters) – South America’s fastest growing oil producer has turned down the Indian government’s request for discounted crude oil purchases during trade discussions, Guyana Vice President Bharrat Jagdeo said on Thursday. Guyana’s oil production in total has tripled from a year ago to about 380,000 barrels of …
Guyana rules out offering crude oil export discounts to India Read More »
BENGALURU (Reuters) – Maruti Suzuki India Ltd, the country’s largest carmaker, said on Friday it would recall 7,213 units of its Baleno RS hatchback over a possible defect in vacuum pump that assists its brake function. “The affected vehicle may require increased effort in brake pedal application,” the company said in a release, adding that …
India’s Maruti Suzuki to recall 7,213 Baleno RS hatchbacks to fix brake part defect Read More »
By Manoj Kumar NEW DELHI (Reuters) – An Indian business delegation will visit Russia on April 24-27, the Indian exporters’ body said on Friday, a fresh sign of expanding bilateral trade ties as Moscow increasingly turns east in response to Western sanctions imposed over the Ukraine war. The announcement follows a visit by Russian trade …
Indian business delegation to visit Russia to explore agri exports Read More »
BENGALURU (Reuters) -Reliance Industries Ltd, India’s most valuable company, on Friday reported a more than 19% jump in fourth-quarter profit, led by the strength in its mainstay energy unit. Consolidated profit at the Mukesh Ambani-led conglomerate rose to 192.99 billion rupees ($2.35 billion) in the quarter ended March 31, from 162.03 billion rupees a year …
India’s Reliance Industries Q4 profit rises 19% on O2C boost Read More »
By Siddhi Nayak and Swati Bhat MUMBAI (Reuters) – India’s central bank has cautioned lenders at meetings held over at least the past three months about the growing risk of delinquencies on unsecured loans amid rising interest rates and high inflation, four banking sources said. Unsecured loans – mostly personal loans and credit cards – …
India cenbank cautions banks on unsecured lending as risks loom – sources Read More »
By Dharamraj Dhutia MUMBAI (Reuters) – Indian banks may shy away from parking large sums in the central bank’s 14-day variable rate reverse repo, which acted as a major reason for elevated rates through the week amid volatile liquidity, traders said. Liquidity in the banking system, which was in deficit till March-end, swung to a …
Indian banks wary of parking funds with RBI following liquidity swings – traders Read More »
