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Indian shares trim weekly gains on profit booking post RBI policy

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares declined for the second straight session on Friday, dragged by a broad-based slide amid sustained profit booking after the Reserve Bank of India signalled tighter monetary conditions could persist. The blue-chip Nifty 50 closed 0.38% lower at 18,563.40, while the benchmark S&P BSE Sensex fell 0.35% to 62,625.63. …

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Indian rates at three-month high on low supplies, paddy price hike

By Kavya Guduru (Reuters) -Prices of rice exported from top hub India jumped to their highest since early March this week, driven by tight supplies and a move to raise the government-mandated price for paddy, while rates for the staple from Thailand eased on lower demand. India’s 5% broken parboiled variety was quoted at $388-$395 …

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India cenbank to permit default loss guarantee arrangements in digital lending

MUMBAI (Reuters) – The Reserve Bank of India (RBI) will put in place a regulatory framework to permit default loss guarantee arrangements for digital lenders, it said on Thursday. First loss default guarantee (FLDG) is a lending model between fintech firms and their partner banks and non-banking finance companies where the initial hit on a …

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India rebukes Canada over parade float showing assassination of Indira Gandhi

NEW DELHI (Reuters) – India’s foreign minister on Thursday hit out at Canada for allowing a float in a parade depicting the 1984 assassination of Indian Prime Minister Indira Gandhi by her bodyguards, perceived to be glorification of violence by Sikh separatists. “I think there is a larger underlying issue about the space which is …

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Indian police step up sexual harassment probe of wrestling chief

By Rupam Jain NEW DELHI (Reuters) – Indian police have questioned more than 155 people in a widening investigation of sexual harassment accusations against the chief of the national wrestling body, a police source with knowledge of the matter said on Thursday. The government has set a June 15 deadline to wrap up the investigation …

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Instant view: India central bank holds rates as expected

(Reuters) – India’s central bank kept its key lending rate steady for a second straight policy meeting on Thursday, as widely expected, but signalled that monetary conditions will remain tight for some time as it looks to further curb inflationary pressures The monetary policy committee (MPC), which has three members from the Reserve Bank of …

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