BENGALURU (Reuters) – The Reserve Bank of India (RBI) on Wednesday asked banks and non-bank lenders to issue credit, debit and prepaid cards on multiple networks to give customers the freedom to choose. “On a review, it is observed that arrangements existing between card networks and card issuers (banks and non-banks) are not conducive to …
India cenbank seeks to give customers choice of card network Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) – India has discussed a possible deal to supply more than 11 million metric tons a year of green hydrogen to the European Union and Singapore, who in turn would invest in these Indian clean energy projects, three government officials and one industry source said. Reuters reported on …
India in talks to supply green hydrogen to EU, Singapore -sources Read More »
BENGALURU/CHENNAI (Reuters) – India’s Marico said on Wednesday its consolidated revenue for the June quarter fell in the low-single digits percentage range, dragged by sluggish sales in rural markets and a move to cut prices of its Saffola edible oil. “Signs of improvement on a sequential basis were not clearly visible … the anticipated pickup …
India’s Marico expects June quarter revenue drop on sluggish rural demand Read More »
MUMBAI (Reuters) – The increasing use of the Indian rupee in invoicing and settlement of international trade, as well as in capital account transactions, will give the local currency international acceptance, a working group of the Reserve Bank of India said. An international currency is one that is freely available to non-residents, essentially to settle …
India’s cenbank working group proposes steps to broaden rupee’s global reach Read More »
BENGALURU (Reuters) – India’s Bajaj Auto launched two locally-made Triumph motorcycles on Wednesday, two days after Hero MotoCorp unveiled a locally-made Harley model and adding to the competition in the premium space dominated by Eicher Motors’ Royal Enfield. The launch of the two models, made in partnership with UK’s Triumph Motorcycles, sent Bajaj Auto shares …
Bajaj Auto launches India-made Triumph bikes, shares jump to record high Read More »
By Sethuraman N R BENGALURU (Reuters) – The Indian rupee on Wednesday logged its worst session in a month on persistent dollar demand from importers, while traders awaited minutes from the U.S. Federal Reserve’s June policy meeting for cues on the future rate hike path. The rupee ended down 0.25% at 82.2250 per dollar, compared …
Rupee logs worst session in a month; traders eye Fed minutes Read More »
By Zarir Hussain GUWAHATI, India (Reuters) – Nearly all schools remained shut in India’s violence-hit Manipur state despite a government order to reopen them on Wednesday in a bid to restore normalcy after two months of ethnic clashes that have killed almost 120 people. Students, teachers and support staff did not show up at schools …
Schools remain shut in India’s violence-hit Manipur despite reopening order Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares were little changed on Wednesday as a rise in auto and consumer stocks offset the slide in high-weightage financials. The Nifty index settled 0.05% higher at 19,398.50, while the S&P BSE Sensex fell 0.05% to 65,446.04. Both the indexes had hit all-time highs at each of the four …
Indian shares close flat as auto, consumer stocks offset slide in financials Read More »
By Neha Arora NEW DELHI (Reuters) – India’s finished steel purchases from China touched a six-year high in the first two months of the fiscal year beginning in April, according to provisional government data reviewed by Reuters, while its overall imports reached a three-year high. In April and May, China emerged as the second-biggest steel …
India’s April-May finished steel imports from China at six-year high Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) – India will put up barriers in green hydrogen trade in response to other nations imposing restrictions, the nation’s renewable energy ministry said at a conference on Wednesday. As one of the world’s biggest emitters of climate-warming gases, India is betting on green hydrogen to help cut its …
India will put retaliatory barriers on green hydrogen trade – minister Read More »
