NEW DELHI (Reuters) – The Indian government on Wednesday hiked the inflation-adjusted allowance for its 11.7 million employees and pensioners by 4% ahead of the festival season, a minister said, a move that would cost the exchequer 128.57 billion rupees ($1.54 billion) annually. The wage increase, or dearness allowance — a part of monthly wages …
India hikes govt employee inflation-adjusted allowance by 4% Read More »
By Arpan Chaturvedi and YP Rajesh NEW DELHI (Reuters) -India’s top court on Tuesday declined to legalise same-sex marriage and left it to parliament to decide, agreeing with Prime Minister Narendra Modi’s government that the legislature is the right forum to rule on the contentious issue. The unanimous order by a five-judge bench came as …
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BENGALURU (Reuters) – The Reserve Bank of India (RBI) on Tuesday said that it has imposed a penalty of 121.9 million rupees ($1.47 million) on ICICI Bank for violating rules related to the code of conduct for the bank’s directors and for fraud reporting. The RBI’s inspection reports showed ICICI Bank had sanctioned or committed …
India’s ICICI Bank, Kotak Mahindra Bank fined by cenbank Read More »
BENGALURU (Reuters) – India’s ICICI Prudential Life Insurance Company on Tuesday reported a 22.4% rise in its second-quarter profit, driven by higher premium collections. The ICICI Bank-backed insurer’s profit after tax rose to 2.44 billion rupees ($29.31 million) for the quarter ended Sept. 30, compared with 1.99 billion rupees a year earlier. ICICI Prudential said …
India’s ICICI Prudential posts 22% Q2 profit rise on higher premium collections Read More »
BENGALURU (Reuters) – Auto components maker CIE Automotive India on Tuesday reported a 11.4% rise in third-quarter profit – its slowest growth in four quarters – hurt by a sharp slide in its European segment revenue. The unit of Spain’s CIE Automotive reported a consolidated profit from continuing operations of 1.87 billion rupees ($22.46 million) …
Weak European demand dents CIE Automotive India’s Q3 profit Read More »
BENGALURU (Reuters) – Indian engineering research and development services provider L&T Technology Services cut its revenue growth forecast for the current financial year on Tuesday, citing longer deal decision cycles and macroeconomic challenges. The unit of engineering conglomerate Larsen and Toubro now expects revenue in dollars for this fiscal year ending March to grow 17.5%-18.5% …
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By Rajendra Jadhav MUMBAI (Reuters) – Indian wheat prices surged to an eight-month high on Tuesday, propelled by strong demand for big festivals, limited supplies and as import duty makes overseas buying unfeasible for domestic flour mills. The increasing prices may prompt the government to release more stocks from inventories and eliminate import duties on …
Indian wheat prices at 8-month high on festival demand, tight supply Read More »
NEW DELHI (Reuters) – India aims to send an astronaut to the moon by 2040, the government said on Tuesday, as Prime Minister Narendra Modi issued instructions to the space department that include plans for a space station by 2035. India’s space ambitions got a boost when it became the first country to land a …
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By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is expected to rise marginally at open on Tuesday on the back of a pullback in crude oil prices and the safe-haven dollar. Non-deliverable forwards indicate rupee will open at around 83.20-83.24 to the U.S. dollar compared with 83.2775 in the previous session. Oil and dollar …
India rupee to get some respite after pullback on oil, dollar Read More »
NEW DELHI (Reuters) – India’s top court will deliver a verdict on Tuesday on granting legal recognition to same-sex marriages, a ruling that has the potential to spark momentous changes in the world’s most populous country. The case is seen as a milestone event for LGBTQ rights in India, following a historic 2018 judgement by …
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