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By Swati Bhat MUMBAI (Reuters) -India’s current account deficit narrowed sharply in the January to March quarter, helped by a smaller trade gap and increased services exports, the Reserve Bank of India (RBI) said on Wednesday. The current account deficit (CAD) stood at $1.3 billion, or 0.2% of gross domestic product (GDP), in the fourth …

India’s quarterly current account gap narrows as trade deficit shrinks Read More »

By Rajendra Jadhav MUMBAI (Reuters) – India’s monsoon season rains were set to cover the whole country by the weekend, according to meteorological department officials, allowing farmers in northern states to begin planting of summer-sown crops a week earlier than normal. The monsoon, the lifeblood of India’s $3 trillion economy, delivers nearly 70% of the …

Monsoon rains to cover all of India earlier than usual, accelerate crop sowing Read More »

(Reuters) -Indian edtech startup Byju’s is in advanced talks with potential new shareholders to raise $1 billion in funding as it attempts to sidestep a revolt by some investors, Bloomberg News reported on Tuesday, citing sources familiar with the matter. Once counted among India’s most successful startups, Byju’s is caught in what many see as …

India’s Byju’s seeks to raise $1 billion to stave off investor revolt – Bloomberg News Read More »

By Dharamraj Dhutia and Bhakti Tambe MUMBAI (Reuters) – Goswami Infratech, a Shapoorji Pallonji group entity, closed India’s largest debt issue from a low-rated company on Tuesday, signalling growing interest in high-yielding debt from local and global private credit funds, bankers and fund managers said. Goswami Infratech accepted bids worth 143 billion rupees ($1.74 billion), …

India’s Shapoorji group entity’s bond issue signals appetite from pvt credit funds Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee ended little changed against the dollar on Tuesday even as most Asian peers gained on signs that the Chinese central bank may be wary of the yuan’s recent decline. The rupee ended at 82.0250 to the dollar, up from 82.04 in the previous session. “Today was …

Indian rupee ends almost flat despite gains in Asian peers Read More »

NEW DELHI (Reuters) -The Cricket World Cup will begin on Oct. 5 with England facing New Zealand in Ahmedabad and the same venue hosting the final on Nov. 19, organisers said on Tuesday, with the schedule for the showpiece in India also confirming Pakistan’s participation. The fixtures were revealed by the International Cricket Council during …

Cricket-World Cup to begin Oct. 5, Ahmedabad hosts final Read More »

NEW DELHI (Reuters) – India’s federal government has approved investment proposals worth 564.2 billion rupees ($6.88 billion) to state governments under a scheme that provides interest-free loans for infrastructure spending, according to a statement from the finance ministry. As part of the 2023/24 Union Budget, the federal government had announced it would provide special assistance …

India government okays states’ investment proposal worth $6.9 billion under infra scheme Read More »

MUMBAI (Reuters) – The Reserve Bank of India will likely start cutting the policy repo rate in early 2024 once headline inflation eases toward the 4% target, S&P Global Ratings said. “In India, under the assumption of normal monsoons, we expect headline consumer inflation to soften to 5% in fiscal 2024 from 6.7%,” the rating …

India’s cenbank may cut rates in early 2024 as inflation eases – S&P Read More »