By Nimesh Vora MUMBAI (Reuters) – The Indian rupee declined on Friday to its lowest level in a month on worries that the U.S Federal Reserve will need to hike rates more than what was previously expected. The rupee was at 82.66 to the U.S dollar, down from 82.51 in the previous session and at …
Rupee extends drop, seen at levels attractive to exporters Read More »
NEW DELHI/LONDON (Reuters) – Freedom of expression cannot be used for “legitimising violence”, India said on Thursday in response to media reports citing comments by Canada’s prime minister on Ottawa’s handling of supporters of a separate state for the Sikh community. India summoned the Canadian envoy in New Delhi to register its protest after Indian …
Free speech cannot be used to legitimise terror, India says Read More »
By Dharamraj Dhutia MUMBAI (Reuters) – Several Indian banks said on Thursday the Reserve Bank of India (RBI) should continue with more overnight variable rate reverse repo auctions, despite its first such attempt seeing subscriptions of less than half the target amount of 1 trillion rupees. The RBI’s overnight variable rate reverse repo, or VRRR …
Indian lenders want cenbank to conduct more overnight reverse repo auctions Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares closed higher on Thursday, in contrast to weakness in Asian and European equities, bucking concerns around an escalating Sino-U.S. trade conflict and rising odds of further policy tightening by the U.S. Federal Reserve. The Nifty 50 index settled 0.51% higher at 19,497.30, while the S&P BSE Sensex advanced …
Indian shares close higher, shrugging off weakness in Asia, Europe Read More »
BENGALURU (Reuters) – The Reserve Bank of India (RBI) on Wednesday asked banks and non-bank lenders to issue credit, debit and prepaid cards on multiple networks to give customers the freedom to choose. “On a review, it is observed that arrangements existing between card networks and card issuers (banks and non-banks) are not conducive to …
India cenbank seeks to give customers choice of card network Read More »
By Aditi Shah NEW DELHI (Reuters) -Maruti Suzuki, India’s biggest automaker, is looking to break into the premium car segment with its new seven seater, as a growing number of buyers opt for bigger, feature-packed cars. Maruti, known for small and compact cars that are mostly priced below 1 million rupees ($12,000), on Wednesday launched …
Maruti Suzuki goes upmarket in India with new seven seater Read More »
BENGALURU/CHENNAI (Reuters) – India’s Marico said on Wednesday its consolidated revenue for the June quarter fell in the low-single digits percentage range, dragged by sluggish sales in rural markets and a move to cut prices of its Saffola edible oil. “Signs of improvement on a sequential basis were not clearly visible … the anticipated pickup …
India’s Marico expects June quarter revenue drop on sluggish rural demand Read More »
MUMBAI (Reuters) – The increasing use of the Indian rupee in invoicing and settlement of international trade, as well as in capital account transactions, will give the local currency international acceptance, a working group of the Reserve Bank of India said. An international currency is one that is freely available to non-residents, essentially to settle …
India’s cenbank working group proposes steps to broaden rupee’s global reach Read More »
BENGALURU (Reuters) – India’s Bajaj Auto launched two locally-made Triumph motorcycles on Wednesday, two days after Hero MotoCorp unveiled a locally-made Harley model and adding to the competition in the premium space dominated by Eicher Motors’ Royal Enfield. The launch of the two models, made in partnership with UK’s Triumph Motorcycles, sent Bajaj Auto shares …
Bajaj Auto launches India-made Triumph bikes, shares jump to record high Read More »
By Zarir Hussain GUWAHATI, India (Reuters) – Nearly all schools remained shut in India’s violence-hit Manipur state despite a government order to reopen them on Wednesday in a bid to restore normalcy after two months of ethnic clashes that have killed almost 120 people. Students, teachers and support staff did not show up at schools …
Schools remain shut in India’s violence-hit Manipur despite reopening order Read More »
