Reuters India

India’s current account likely turned to surplus in Jan-March: Reuters poll

By Vivek Mishra and Anant Chandak BENGALURU (Reuters) – India’s current account balance likely turned positive in January-March, marking the first quarterly surplus in nearly two years thanks to a narrower trade deficit and an increase in services exports, a Reuters poll found. The latest survey of 22 economists showed the current account balance likely …

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Google asks India’s top court to quash Android antitrust directives -sources

By Aditya Kalra NEW DELHI (Reuters) -Google has urged India’s Supreme Court to quash antitrust directives against it for abuse of the Android market, two sources said, as its presses its legal battle against the competition watchdog in one of its most important markets. The Competition Commission of India (CCI) said in October that Google, …

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Go First’s lenders approve $55 million fund infusion to revive bankrupt Indian carrier – sources

By Siddhi Nayak MUMBAI (Reuters) – Lenders to India’s Go First, which is under bankruptcy protection, have approved interim funding of 4.50 billion rupees ($54.9 million) to resume operations and restart the airline, two banking sources said. Go First was granted bankruptcy protection on May 10. Reuters reported last week that the airline has sought …

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India cenbank fines credit bureaus for gaps in customer data, service

MUMBAI (Reuters) – The Reserve Bank of India on Monday fined four credit bureaus, including TransUnion CIBIL, for not complying with the rules on maintaining borrower data, a move that comes as the central bank pushes for more accountability following customer complaints. Certain data related to the credit information maintained by TransUnion CIBIL, Experian Credit …

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India’s Shree Cement slumps after report of $2.81 billion tax evasion

BENGALURU (Reuters) -Shares of India’s Shree Cement fell on Monday after a local television news channel reported that multiple searches at company locations revealed it had allegedly evaded taxes worth 230 billion rupees ($2.81 billion). Deductions claimed by Shree Cement are false and the company siphoned off 12-14 billion rupees every year, an NDTV report …

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India government okays states’ investment proposal worth $6.9 billion under infra scheme

NEW DELHI (Reuters) – India’s federal government has approved investment proposals worth 564.2 billion rupees ($6.88 billion) to state governments under a scheme that provides interest-free loans for infrastructure spending, according to a statement from the finance ministry. As part of the 2023/24 Union Budget, the federal government had announced it would provide special assistance …

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India’s cenbank may cut rates in early 2024 as inflation eases – S&P

MUMBAI (Reuters) – The Reserve Bank of India will likely start cutting the policy repo rate in early 2024 once headline inflation eases toward the 4% target, S&P Global Ratings said. “In India, under the assumption of normal monsoons, we expect headline consumer inflation to soften to 5% in fiscal 2024 from 6.7%,” the rating …

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