By Nupur Anand MUMBAI (Reuters) – The Reserve Bank of India (RBI) has ordered SBM Bank (India) to stop all transactions under the liberalised remittance scheme (LRS) until further notice, it said on Monday, citing “material supervisory concerns” but no further detail. The central bank had concerns that certain overseas money transfer practices of SBM’s …
BENGALURU (Reuters) -Indian private lender Axis Bank Ltd on Monday reported a stronger-than-expected 62% jump in quarterly profit, as a surge in interest income outpaced a rise in provisions for bad loans. Demand for credit has rebounded from the pandemic lows and boosted loan growth at banks, with consumers and businesses stepping up spending as …
India’s Axis Bank profit beats view on strong interest income Read More »
By Rajendra Jadhav and Mei Mei Chu MUMBAI/KUALA LUMPUR (Reuters) -India is set to export a record 50 million eggs this month, boosted by sales to Malaysia, where there have been acute shortages as soaring feed prices caused by the Ukraine war forced many small-scale farmers to cut output, industry officials said. Middle Eastern countries, …
Malaysia’s egg shortage sets Indian hatcheries on path for record exports Read More »
By Fayaz Bukhari SRINAGAR (Reuters) – At least six people were injured on Saturday in two blasts in Jammu, the principal Indian city in a region disputed by neighbouring Pakistan, police said, ahead of the arrival of Indian opposition leader Rahul Gandhi on a cross-country march. The blasts hit Jammu’s transport yard in the Narwal …
Six injured in Jammu blasts before India opposition leader Gandhi arrives Read More »
(Reuters) – India’s Mohammed Shami led an incredible bowling performance as his team beat New Zealand by eight wickets to seal the one-day international series with a game to spare in Raipur on Saturday. India got off to a solid start as they reduced New Zealand to 15-5 inside 11 overs after a top-order batting …
Cricket-Shami shines as India beat New Zealand by eight wickets to seal series Read More »
BENGALURU (Reuters) -Jaguar Land Rover (JLR) on Monday forecast free cash flow for the third quarter at more than 400 million pounds ($485 million), after reporting a 15% rise in wholesale volumes for the period on strong demand and improved chip supply. The British automaker, in its earnings statement for the second quarter, had forecast …
Jaguar Land Rover sees Q3 free cash flow above $485 million Read More »
By Muhammed Husain (Reuters) -Banknote printer De La Rue said on Friday it had been made aware of an investigation by Indian authorities into a former Indian finance secretary in which the historical activities of De La Rue in India prior to 2016 have been implicated. De La Rue said in a statement it had …
Banknote printer De La Rue says made aware of India probe Read More »
MUMBAI (Reuters) – India’s foreign exchange reserves rose to $572 billion in the week through Jan. 13, their highest level since early August last year, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday. That is higher than the country’s reserves of $561.58 billion for the week ended Jan. 6, and the more-than-two-year …
India’s foreign exchange reserves rise to 5-month high Read More »
By Manoj Kumar FARIDABAD, India (Reuters) – Ravi Verma, hired by an electrical parts manufacturing firm early last year as India’s economy surged, was fired in November when the company lost several export orders. He has since remained unemployed, unable to pay back a 100,000 rupee ($1,224) loan he took to buy a two-wheeler scooter. …
Despite India’s economic growth, few jobs and meagre pay for urban youth Read More »
BENGALURU (Reuters) -Indian shares fell on Friday as traders parsed through key corporate earnings amidst concerns of a global economic slowdown, but held on to weekly gains on a rise in financial stocks. The Nifty 50 index closed 0.44% lower at 18,027.65, while the S&P BSE Sensex fell 0.39% to 60,621.77. “Hawkish comments from global …
Indian shares end lower; global growth concerns, weak earnings weigh Read More »
