MUMBAI (Reuters) – India’s foreign exchange reserves rose for the third straight week, to $550.14 billion in the week through Nov. 25, the Reserve Bank of India’s (RBI) weekly statistical supplement showed on Friday. For the week ended Nov. 18, the country’s reserves were at $547.25 billion. Since hitting an over two-year low of $524 …
India’s FX reserves rise to $550 billion in week ended Nov. 25 Read More »
Indian banks’ loans rose 17.2% in the two weeks to Nov. 18 from a year earlier, while deposits rose 9.6%, the Reserve Bank of India’s weekly statistical supplement showed on Friday. Outstanding loans rose 215.02 billion rupees ($2.64 billion) to 129.48 trillion rupees in the two weeks to Nov. 18. Non-food credit rose 76.41 billion …
Indian banks’ loans rose 17.2% y/y in two weeks to Nov 18 – central bank Read More »
MUMBAI (Reuters) – India has decided to extend the deadline on capping the share of digital payment transactions by about two years to Dec. 31, 2024, the National Payments Corporation of India (NPCI) said on Friday. The NPCI had said in late 2020 that payment firms will not be allowed to process more than 30% …
India extends deadline to levy cap on digital payment transactions Read More »
By Devjyot Ghoshal NEW DELHI (Reuters) – India began its year-long presidency of the Group of 20 (G20) this week, taking over from Indonesia at a time of geopolitical tumult and uncertainty over post-pandemic economic recovery. WHAT IS THE G20? Formed in the wake of the financial crisis that swept through Southeast Asian economies in …
Explainer-India G20 presidency 2023: what does it mean and what can we expect Read More »
NEW DELHI (Reuters) -India is to ban the use of diesel autorickshaws in areas around the capital Delhi, expanding restrictions introduced in the city itself to tackle some of the worst city air quality in the world. No new diesel-powered rickshaws will be registerd in the areas surrounding the capital in the states of Haryana, …
India orders rickshaws around Delhi to run on cleaner fuel Read More »
By Nandan Mandayam and Nivedita Bhattacharjee BENGALURU (Reuters) – The festive season helped drive strong overall sales at most Indian automakers in November, with market leader Maruti Suzuki posting a 14.3% jump for the month. Auto sales numbers are keenly watched as they are among the key indicators for assessing private consumption, which has a …
India November auto sales: car, tractor, truck sales rise Read More »
By Shivangi Acharya NEW DELHI (Reuters) – The Indian economy is likely to grow 6.5% to 7% next fiscal year if the global environment does not worsen, a member of the prime minister’s economic advisory council said on Thursday, giving a higher estimate than some economists. Global agencies such as the International Monetary Fund and …
India economy likely to grow 6.5%-7% next fiscal year -govt adviser Read More »
By Nidhi Verma NEW DELHI (Reuters) – Indian state refiners’ daily diesel sales rose 21% in November from the previous month, preliminary sales data showed, indicating a recovery in the country’s industrial and construction activity. Diesel, which accounts for about four-fifth of India’s refined fuel demand, is mainly used by trucks to transport goods. It …
Diesel sales of Indian state retailers up on industrial recovery Read More »
By Manoj Kumar NEW DELHI(Reuters) -India plans to offer cash subsidies, lower taxes and other incentives to bolster its shipbuilding industry, two government sources said, as part of an effort to reduce the pain of high freight rates for the nation’s manufacturers. The plans include subsidies so that at least 50 new vessels can be …
Exclusive-India to offer incentives to boost shipbuilding industry – sources Read More »
BENGALURU (Reuters) -India’s central bank has given conditional approval to U.S. private equity firms Carlyle Group Inc and Advent International for their purchase of a combined 20% stake in Yes Bank, the private-sector lender said on Thursday. “The investors are evaluating the conditions,” Mumbai-based Yes Bank said, adding that the bank and the investors will …
India’s RBI gives conditional nod to Carlyle, Advent for Yes Bank stake buy Read More »
