Reuters India

By Chris Thomas BENGALURU (Reuters) – Mohandas Pai, an early investor in Indian edtech giant Byju’s, said on Friday the company has not paid enough attention to governance, a day after its auditor and three prominent board members resigned. Byju’s and its CEO Byju Raveendran did not immediately respond to requests for comment. Deloitte disclosed …

Byju’s early investor Pai calls for better governance after auditor exit Read More »

NEW DELHI (Reuters) – India may cut wheat import duty if required, broadcaster ET Now reported on Friday citing the head of the state-run Food Corporation of India (FCI). The wheat harvest in 2023 is at least 10% lower than the government’s estimate, a leading trade body told Reuters on Wednesday, marking the second year …

India may cut wheat import duty if needed – ET Now citing food corporation head Read More »

BENGALURU (Reuters) – Indian private lender Yes Bank said on Friday that it will raise up to 25 billion rupees (about $305 million) through debt securities. The fundraise may be in Indian or foreign currency and the instruments may include, but not be limited to, non-convertible debentures, bonds, medium-term notes, the bank said. ($1 = …

India’s Yes Bank to raise $305 million in debt Read More »

By Aditya Kalra, M. Sriram and Munsif Vengattil NEW DELHI (Reuters) – Byju’s is asking three global investors to reconsider their decision to quit its board, three sources with direct knowledge of the situation said, as the Indian education technology firm wrestles with the fallout of its auditor’s resignation. Board members representing Peak XV Partners, …

India’s Byju’s in talks with investors who quit board to reconsider -sources Read More »

BENGALURU (Reuters) – Indian shares were set for a subdued start on Friday as the markets look to consolidate with benchmark indexes hovering around record levels. India’s NSE stock futures listed on the Singapore Exchange were down 0.06% at 18,820, as of 8 a.m. IST. The benchmark Sensex hit new record highs in each of the last …

Indian shares set for muted start as profit-booking seen around record levels Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is expected to not to be too affected by the further slide in the Chinese yuan and by the broad weakness in Asian currencies. Non-deliverable forwards indicate the rupee will open mostly unchanged to the U.S. dollar from 81.95 in the previous session. “Not sure if …

Indian rupee seen mostly resilient to yuan-fuelled decline in Asia FX Read More »

By Vivek Mishra BENGALURU (Reuters) – The Indian economy will grow a robust 6.1% this fiscal year fueled mainly by strong government spending, according to a Reuters poll of economists who also said consumption and exports will be the biggest drag. Consumer spending, which makes up 60% of Asia’s third-largest economy, has slowed markedly recently, …

Gov’t spending to drive India growth this fiscal year, economists say: Reuters poll Read More »

WASHINGTON (Reuters) – The U.S. and India have agreed to terminate six outstanding disputes at the World Trade Organization, the U.S. Trade Representative’s office said in a statement on Thursday after a meeting between President Joe Biden and Prime Minister Narendra Modi. India also agreed to remove retaliatory tariffs on certain U.S. products including chickpeas, …

US, India agree to terminate six disputes at WTO -US statement Read More »

By Kanishka Singh and Nandita Bose WASHINGTON (Reuters) -Indian Prime Minister Narendra Modi denied that discrimination against minorities existed under his government during a press conference with U.S. President Joe Biden on Thursday, despite rights groups and State Department reports of abuses. Biden said he discussed human rights and other democratic values with Modi during …

Narendra Modi denies religious discrimination exists in India Read More »