Reuters India Business

By David Lawder and Andrea Shalal WASHINGTON (Reuters) -International Monetary Fund Managing Director Kristalina Georgieva said on Thursday that the global economy has proven remarkably resilient to multiple shocks, but has yet to overcome a combination of weak growth and sticky inflation. The IMF’s projection of 2.8% global growth for 2023 “is not enough to …

IMF chief says global economy mired in weak growth, sticky inflation Read More »

By Sethuraman N R and Nishit Navin BENGALURU (Reuters) -Infosys Ltd on Thursday forecast revenue growth would hit a six-year low this fiscal as India’s No.2 IT services exporter grapples with clients clamping down or deferring spending due to growing fears of a recession in many countries. Infosys said it expects revenue to increase 4%-7%, …

Infosys revenue growth to hit six-year low as client spending falls Read More »

SINGAPORE (Reuters) – GAIL (India) has issued a swap tender offering one liquefied natural gas (LNG) cargo for loading in the United States in exchange for another cargo for delivery to India, two industry sources said on Wednesday. India’s largest gas distributor is seeking the cargo for delivery on a delivery ex-ship (DES) basis at …

India’s GAIL seeks LNG cargo for May delivery to Dhamra terminal -sources Read More »

By Ira Dugal and Aftab Ahmed MUMBAI (Reuters) -The Reserve Bank of India (RBI) has begun evaluating at least five potential bidders interested in picking up a majority stake in state-owned IDBI Bank Ltd, three people familiar with the matter told Reuters. Kotak Mahindra Bank, Prem Watsa-backed CSB Bank and Emirates NBD are among those …

India central bank begins evaluating potential bidders for IDBI Bank -sources Read More »

By Aditi Shah and Yagnoseni Das NEW DELHI (Reuters) -India’s passenger vehicle sales hit a record high in the fiscal year 2022-23, as chip shortages eased and customers shelled out more money for sport utility vehicles (SUVs), an auto industry body said on Thursday. Automakers have sharpened their focus on producing SUVs, driven by consumer …

India’s passenger vehicle sales hit record high in FY23 on SUV demand surge Read More »

MUMBAI (Reuters) – The Reserve Bank of India’s (RBI) proposal to discourage banks from capitalising on penal charges and additional interest loan defaults could potentially weigh on lenders’ revenues going forward, Morgan Stanley said. On Wednesday, the RBI issued a draft circular regarding charges related to loan accounts, aiming to promote transparency among regulated entities …

RBI’s proposal to regulate bank penal charges could dent lenders’ revenues – Morgan Stanley Read More »

By Aftab Ahmed NEW DELHI (Reuters) -India’s financial crime-fighting agency has opened an investigation into alleged violations of foreign exchange rules by the BBC, a source told Reuters on Thursday, months after tax officials searched the broadcaster’s Mumbai and Delhi offices. The tax raids in February had come close on the heels of the release …

India opens new investigation into BBC in widening crackdown Read More »

(Reuters) – India’s largest power producer NTPC is considering fresh offers for a stake in its green arm after top bidder Petronas withdrew its offer, Bloomberg News reported on Thursday. Malaysia’s Petronas withdrew its earlier offer saying a 20% stake was too small and would not give it a seat on the unit’s board, Bloomberg …

India’s NTPC weighs fresh offers for green unit – Bloomberg News Read More »

By Anushka Trivedi MUMBAI (Reuters) – The Indian rupee advanced on Thursday after U.S. inflation cooled, while Federal Reserve officials flagged risks to the economy, which compounded troubles for the dollar index. The rupee traded around 81.96 per dollar by 10:41 a.m. IST compared to 82.0775 in the previous session. U.S. Consumer Price Index (CPI) …

Rupee firms as cooling US inflation, recession woes hurt dollar Read More »