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MUMBAI (Reuters) – Nearly a billion people will be eligible to vote in India’s general elections, to be held over almost seven weeks from April 19, where Prime Minister Narendra Modi will seek a record-equalling third straight term. The elections for 543 seats in India’s Lok Sabha, or lower house of parliament, will run through …

Factbox-India to hold world’s largest elections between April and June Read More »

By Jayshree P Upadhyay (Reuters) -Top Indian asset managers showed delays, in some cases up to 30 days, in offloading a fourth of their small- and mid-cap portfolio, according to results from stress tests conducted by fund houses. A delay in exiting holdings of such stocks could defer the return of funds to investors, who …

India asset manager stress tests show delays in exiting small caps Read More »

By Julien Pretot PARIS (Reuters) – Chess great Magnus Carlsen is launching a world Freestyle Chess tour as the variant of the game, also known as Chess960, is gaining in popularity, the world number one announced on Friday. Norwegian Carlsen, a five-time classical chess world champion who relinquished his title last year, has partnered with …

Chess-Carlsen launches Freestyle tour, India first on list Read More »

NEW DELHI (Reuters) – India appointed two officials as election commissioners on Thursday, filling vacant spots in the three-person body ahead of an expected announcement of a date for a national election likely to be won by incumbent Prime Minister Narendra Modi. The appointments come days after the unexplained resignation of one commissioner, which drew …

India fills election board ahead of vote date announcement Read More »

By Rajendra Jadhav MUMBAI (Reuters) – India’s banks have stopped silver imports after private traders bought large volumes of the precious metal from the United Arab Emirates to benefit from a lower duty, a total of five dealers and industry officials said. India, the world’s biggest silver consumer, imposes a 15% import duty on the …

Exclusive-Indian banks halt silver imports as duty differential spurs private trade Read More »

By Siddhi Nayak MUMBAI (Reuters) -Indian digital payments firm Paytm, formally known as One 97 Communications, was on Thursday granted a third-party application provider license by the country’s payments authority, which will enable it to facilitate payments after its banking unit ceases operations. The license will allow customers to continue using the Paytm app for …

India’s Paytm gets third-party app license from payments authority Read More »

By Jaspreet Kalra and Siddhi Nayak MUMBAI (Reuters) -Indian digital payments firm Paytm plans to cut close to 20% of staff at its banking unit amid uncertainty over the unit’s future due to a looming central bank deadline for it to halt most operations, two sources said. Paytm Payments Bank has decided to lay-off staff …

India’s Paytm banking unit to cut about 20% of staff as business halt looms, sources say Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee ended marginally higher on Thursday tracking rangebound price action across most of its Asian peers, while dollar-rupee forward premiums maintained their downtrend on an uptick in U.S. bond yields. The rupee closed at 82.8175, slightly stronger from its close at 82.8625 in the previous session. The …

Rupee ends slightly higher, forward premiums maintain downtrend Read More »