Reuters India Business

(Reuters) – The Indian government has received about 54 foreign direct investment proposals from China since last year that are pending for approval, said Finance Minister Nirmala Sitharaman. “54 FDI proposals received during the past year and current year with investor/ beneficial owner from China/Hong Kong are pending for decision with government as on March …

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By Arpan Chaturvedi and Siddhi Nayak NEW DELHI (Reuters) – Indian banks must give defaulters an opportunity to be heard before they classify a loan account as fraud, the Supreme Court ruled on Monday. Banks cannot unilaterally declare an account as fraud without providing the defaulter the right to be heard, a top court bench …

Indian banks must hear loan defaulters before declaring accounts as fraud – top court Read More »

By Siddhi Nayak MUMBAI (Reuters) – India has asked state-run lenders to adopt stricter monitoring of top corporate loan accounts and submit a plan to deal with business risks in key areas within two weeks, three banking sources said on Monday. Indian banks, in the past, have had to take deep haircuts on their exposure …

India asks state-run banks to monitor top loan accounts – sources Read More »

By M. Sriram MUMBAI (Reuters) – Indian skincare startup Mamaearth has put its initial public offering (IPO) on hold because of weak market conditions, two people with direct knowledge of the matter said, a month after two other Indian companies also scrapped their share sales. Mamaearth parent Honasa Consumer Ltd filed its documents for an …

Indian skincare firm Mamaearth’s parent puts IPO on hold – sources Read More »

BENGALURU (Reuters) – Indian drugmaker Sun Pharmaceutical Industries Ltd would see a revenue drop in a few of its businesses and incur some expenses due to an “IT security incident” that happened earlier this month. The effect of the incident on the drug major’s IT systems included a breach of certain file systems and theft …

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(Reuters) – Indian financial technology company Paytm Payments Services Ltd has received an extension from the country’s banking regulator to apply for a payment aggregator licence and aims to reapply in about 15 days, the company said on Sunday. Paytm Payments Services, in the meantime, can continue with the online payment aggregation business for its …

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NEW DELHI (Reuters) – India finance minister has asked state-run banks to assess various financial health parameters amid turbulence across the global banking sector. After a meeting with chiefs of state-run banks in New Delhi on Saturday, the finance ministry said in a statement that lenders have been asked to identify stress points, including “concentration …

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MUMBAI (Reuters) – Reliance Industries Ltd has appointed Srikanth Venkatachari as chief financial officer effective June 1, according a late evening release by the company. He takes over from Alok Agarwal, who has been CFO since 2005, and will now assume the role of senior advisor to Reliance Chairman Mukesh Ambani. Venkatachari is currently the …

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