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By Krishna N. Das NEW DELHI (Reuters) – India will spend nearly $300 million in two years to expand water bodies like lakes and build drains in seven cities including Mumbai, Chennai and Bengaluru to mitigate floods and conserve water, a government official told Reuters on Wednesday. Flooding, often fatal, is common in Indian cities …

India to spend $300 million to mitigate floods, conserve water in big cities Read More »

MUMBAI (Reuters) – Indian banks need to carefully monitor the gap between credit and deposit growth to avoid a potential structural liquidity issue, the governor of the Reserve Bank of India (RBI) said on Tuesday. “Young Indians are aspirational. They get attracted to different markets. There is nothing wrong in it, it’s a natural process …

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BENGALURU (Reuters) – India’s markets regulator proposed on Tuesday that companies be allowed to also sell shares to new investors, in addition to existing shareholders, to raise funds, among other measures to ease corporate fundraising. The regulator also proposed that a company allow other investors to buy into an unsubscribed portion of a so-called rights …

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By Swati Bhat MUMBAI (Reuters) – India will have to adopt a more cautious approach to monetary policy if high food prices persist and threaten to spill over into more generalised price inflation, the Reserve Bank of India said in its monthly bulletin on Monday. “The conventional treatment of food price perturbations as transitory in …

India might need more cautious monetary policy to stem food price rise spillover, cenbank says Read More »

By Chiranjit Ojha (Reuters) – Supporters of Indian soccer clubs East Bengal and Mohun Bagan put their bitter rivalry aside and united in protest against the rape and murder of a trainee doctor at a Kolkata hospital. The Durand Cup match between the century-old clubs from the eastern city of Kolkata was cancelled on Sunday …

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BENGALURU (Reuters) -India’s HCLTech has appointed Shiv Walia as its chief financial officer, it said on Monday. Walia, who has been with IT services firm for 31 years, will take over as the CFO on Sept. 6. He will succeed Prateek Aggarwal, who was the firm’s CFO for nearly 6 years. Aggarwal is leaving HCLTech. …

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MUMBAI (Reuters) – The Reserve Bank of India on Monday issued a framework for recognition of self-regulatory organisations in the financial markets space to help strengthen compliance culture and provide a consultative platform for policy making. The proposed self-regulatory organisations (SROs) can play a vital role in developing industry standards and best practices and ensuring …

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By Praveen Paramasivam CHENNAI, India (Reuters) -A group of Indian port workers’ unions has called for a strike from Aug. 28 to demand immediate settlement of pay revisions and pension benefits, according to a note signed by its members. A strike by India’s port workers could exacerbate the existing congestion issues at Asian and European …

Indian port workers to go on strike to demand better wages, benefits Read More »