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By Aditya Kalra BENGALURU (Reuters) -The head of WhatsApp’s India payment business, Manesh Mahatme, has quit after more than a year with the Meta Platforms-owned company to join Amazon India, a source told Reuters on Thursday. Mahatme’s exit comes at a critical time for Whatsapp, which is seeking to ramp up its payments service in …

WhatsApp Pay India head quits, joins Amazon -source Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee dropped to a record low versus the U.S. dollar on Thursday, as Asian currencies declined on concerns over the pace and quantum of U.S. Federal Reserve’s policy tightening ahead. The rupee closed at a record low of 80.86 to the dollar, down from 79.9750 in the …

Rupee hits record low as Asian peers tumble on Fed rate view Read More »

By Dharamraj Lalit Dhutia MUMBAI (Reuters) -Liquidity in India’s banking system is likely to remain in deficit in the second half of this financial year as credit growth picks up and the circulation of currency notes rises, analysts said. The country’s banking liquidity slipped into deficit on Tuesday for the first time in over three …

India’s banking system liquidity may remain in deficit in second half – analysts Read More »

BENGALURU (Reuters) -Reliance Retail, run by Indian billionaire Mukesh Ambani’s conglomerate Reliance Industries Ltd, is in advanced talks to get the rights for beauty retailer Sephora in India, the Mint newspaper reported on Wednesday, citing two people familiar with the matter. Sephora’s operations will transfer from Arvind Fashions Ltd to Reliance Retail if an agreement …

India’s Reliance Retail in talks for rights of beauty retailer Sephora – report Read More »

BENGALURU (Reuters) – India’s air safety watchdog on Wednesday said it was extending a restriction on Indian budget carrier SpiceJet Ltd’s flight departures until Oct. 29. The airline will be allowed to fly only 50% of scheduled departures until then. (Reporting by Meenakshi Maidas in Bengaluru; Editing by Anil D’Silva)

The Reserve Bank of India will conduct an overnight variable rate repo auction for 500 billion Indian rupees ($6.25 billion) on Thursday, the central bank said. “On a review of current liquidity conditions, the Reserve Bank of India has decided to conduct a Variable Rate Repo auction on September 22,” RBI said in a statement …

India’s RBI announces 500 billion rupee overnight repo Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee closed at its lowest level ever against the U.S. currency on Wednesday, tracking the dollar index’s strength as the U.S. Federal Reserve gears up for a hefty rate hike to tame inflation pressures. The rupee closed at 79.9750 per U.S. dollar, down from 79.75 in the …

Rupee at record closing low ahead of near-certain big Fed rate-hike Read More »

NEW DELHI (Reuters) – The United States has welcomed Indian Prime Minister Narendra Modi’s comment to Russian President Vladimir Putin that now was not the time for war, New Delhi’s sharpest public response to Russia’s invasion of Ukraine. Modi had spoken regularly to Putin since the war began in February, seeking dialogue and peace talks, …

U.S. welcomes Modi telling Putin now is ‘not an era of war’ Read More »