Reuters India

BENGALURU (Reuters) – Housing Development Finance Corporation (HDFC) and HDFC Bank are working towards completing the merger of the two financial behemoths by July 1 and may set July 13 as the record date for swapping shares, HDFC said in an exchange filing on Tuesday. HDFC Chairman Deepak Parekh had said in a CNBC-TV18 report that both …

India’s HDFC, HDFC Bank merger to be effective July 1 Read More »

By Swati Bhat MUMBAI (Reuters) -India’s current account deficit narrowed sharply in the January to March quarter, helped by a smaller trade gap and increased services exports, the Reserve Bank of India (RBI) said on Wednesday. The current account deficit (CAD) stood at $1.3 billion, or 0.2% of gross domestic product (GDP), in the fourth …

India’s quarterly current account gap narrows as trade deficit shrinks Read More »

By Rajendra Jadhav MUMBAI (Reuters) – India’s monsoon season rains were set to cover the whole country by the weekend, according to meteorological department officials, allowing farmers in northern states to begin planting of summer-sown crops a week earlier than normal. The monsoon, the lifeblood of India’s $3 trillion economy, delivers nearly 70% of the …

Monsoon rains to cover all of India earlier than usual, accelerate crop sowing Read More »

(Reuters) -Indian edtech startup Byju’s is in advanced talks with potential new shareholders to raise $1 billion in funding as it attempts to sidestep a revolt by some investors, Bloomberg News reported on Tuesday, citing sources familiar with the matter. Once counted among India’s most successful startups, Byju’s is caught in what many see as …

India’s Byju’s seeks to raise $1 billion to stave off investor revolt – Bloomberg News Read More »

By Dharamraj Dhutia and Bhakti Tambe MUMBAI (Reuters) – Goswami Infratech, a Shapoorji Pallonji group entity, closed India’s largest debt issue from a low-rated company on Tuesday, signalling growing interest in high-yielding debt from local and global private credit funds, bankers and fund managers said. Goswami Infratech accepted bids worth 143 billion rupees ($1.74 billion), …

India’s Shapoorji group entity’s bond issue signals appetite from pvt credit funds Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee ended little changed against the dollar on Tuesday even as most Asian peers gained on signs that the Chinese central bank may be wary of the yuan’s recent decline. The rupee ended at 82.0250 to the dollar, up from 82.04 in the previous session. “Today was …

Indian rupee ends almost flat despite gains in Asian peers Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is expected to inch up at open on Tuesday, helped by the Chinese yuan’s recovery following a significantly below-than-expected daily USD/CNY fix. Non-deliverable forwards indicate rupee will open at around 81.94-81.96 to the U.S. dollar compared with 82.04 in the previous session. The “non-directional” moves around …

Rupee to nudge higher on yuan recovery following daily fix Read More »

MUMBAI (Reuters) – S&P Global Ratings on Tuesday raised its assessment of India’s banking sector, citing a “strong recovery” underway in the Indian financial sector. India’s ‘Banking Industry Country Risk Assessment’, an indicator of an economy’s financial sector, has been raised one notch to 5 from 6 earlier, the rating agency said in a note. …

S&P raises assessment of Indian banking sector on “strong recovery” Read More »