Reuters India - Squid Business

Canada authorities charge Indian man for immigration fraud targeting students

OTTAWA (Reuters) – Canadian authorities on Friday charged an Indian man for issuing fraudulent university letters of acceptance to Indian students and other immigration-related criminal offences. Brijesh Mishra, a citizen of India, is facing five charges under the Immigration and Refugee Protection Act, the Canada Border Services Agency (CBSA) said in a statement. CBSA said …

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Modi’s denial of discrimination against minorities in India is a lie, activists say

By Kanishka Singh WASHINGTON (Reuters) – Narendra Modi’s denial that discrimination against minorities exists in India contradicts thorough documentation by rights advocates, according to activists disappointed by President Joe Biden’s embrace of the Indian prime minister. Asked at a press conference with Biden on Thursday what steps he was willing to take to “improve the …

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Gold on track for worst week since Feb on hawkish Fed

By Deep Kaushik Vakil (Reuters) -Gold prices on Friday were heading for their biggest weekly percentage fall in over four months, weighed by a stronger dollar and hawkish comments by Federal Reserve officials. Spot gold rose 0.3% to $1,919.99 per ounce as of 2:19 p.m. EDT (1819 GMT), after adding as much as 1.2% on …

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Ambitious plans for US-India technology sharing face hurdles

By David Brunnstrom WASHINGTON (Reuters) – The United States unveiled agreements this week to sell weapons to India and share with it sensitive military technology, a clear sign of the Biden administration’s desire to deepen ties with New Delhi to counter China’s ambitions in Asia. But those plans, announced on Thursday during a state visit …

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Indian edtech Byju’s global investors confirm board exits

By Aditya Kalra, Munsif Vengattil and Indranil Sarkar (Reuters) -All three global investors at Byju’s confirmed on Friday that their representatives had resigned from the board of the once high-flying Indian startup that has been battling pressure from lenders amid a steep drop in its valuation. The resignations of GV Ravishankar of Peak XV Partners, …

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Bringing down inflation key to reviving private capex in India – RBI bulletin

By Swati Bhat MUMBAI (Reuters) – Bringing down inflation, as well as market and household expectations of future inflation would be key to reviving private capital expenditure, the Reserve Bank of India said in its monthly bulletin released on Friday. “Recent national accounts data and corporate results when read in conjunction clearly show that inflation …

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India sees over 72% of withdrawn 2,000 rupee notes taken to banks – media

NEW DELHI (Reuters) – India has seen over 72% of withdrawn 2,000 rupee currency notes deposited or exchanged at banks so far, a month after the withdrawal started, broadcaster CNBC TV18 reported on Friday, citing sources. (Reporting by Shivam Patel in New Delhi)

India’s forex reserves rise to $596.10 billion in week to June 16

BENGALURU (Reuters) – India’s foreign exchange reserves rose to $596.10 billion as of June 16, the Reserve Bank of India’s (RBI) data showed on Friday. That was an increase of $2.35 billion from the previous week. Reserves had fallen by $1.3 billion in the week to June 9. The central bank intervenes in the spot …

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India’s insurance regulator approves transfer of HDFC Life shares to HDFC Bank

BENGALURU (Reuters) -An Indian regulator has approved HDFC Ltd’s move to transfer its near 49% stake in its life insurance unit to HDFC Bank, clearing a key step ahead of their merger. HDFC announced a $40 billion deal last year to merge with the top private lender. As part of the transaction, which is set …

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India’s opposition parties unite for 2024 national elections, BJP says not worried

By YP Rajesh NEW DELHI (Reuters) -Leaders of 15 Indian opposition parties agreed on Friday to fight the 2024 national elections on a common platform against Prime Minister Narendra Modi’s ruling Bharatiya Janata Party (BJP) The parties, many of which are regional rivals and have been splintered at the national level, account for less than …

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