By Anushka Trivedi MUMBAI (Reuters) – The Indian rupee held minor gains and forward premiums fell on Thursday after the Reserve Bank of India surprised markets by holding rates, with the local currency posting its third straight weekly advance. The rupee finished at 81.8850 per dollar, compared with its previous close of 82. It gained …
Rupee steady after surprise RBI pause, gains for third week Read More »
By Ira Dugal MUMBAI (Reuters) – The Reserve Bank of India’s decision to keep interest rates unchanged, after a nearly year-long hiking cycle, may extend even though the central bank described its move as a pause and not a pivot, said one of the few analysts who predicted the surprise decision. A Prasanna, head of …
Indian cenbank may pause on rate hikes at next meet also -ICICI PD’s Prasanna Read More »
By Siddhi Nayak MUMBAI (Reuters) -The Reserve Bank of India (RBI) is proposing expanding the reach of the popular Unified Payments Interface (UPI) digital payments system by allowing credit to be offered via pre-approved bank lines. UPI is an instant real-time payments system that allows users to transfer money across multiple banks without disclosing bank …
Indian cenbank proposes expanding UPI digital payments system to allow credit Read More »
(Reuters) -Indian refiners’ crude oil processing remained near record levels in February, provisional government data showed on Wednesday, catering to rising demand in the world’s third biggest oil importer and consumer. Refinery throughput was 2% higher year-on-year at 5.46 million barrels per day (20.85 million tonnes) for February. Throughput stood at 5.39 million barrels per …
Indian refiners’ February crude processing stays elevated amid robust demand Read More »
By Mohi Narayan and Nidhi Verma NEW DELHI (Reuters) -Record high imports of crude oil from Russia in fiscal 2022-23 helped India’s refiners boost exports of diesel and jet fuel to Europe as the continent shunned Russian products, preliminary ship-tracking data from Kpler and Vortexa showed. Access to cheap Russian crude has boosted output and …
Fuels from Russian oil gets backdoor entry into Europe via India Read More »
BENGALURU (Reuters) – Apple Inc is set to open its first official retail store in India’s financial hub of Mumbai, the iPhone maker said on Wednesday. The Cupertino, California-based company launched an online retail store in India in 2020. Its 2021 plans for the launch of an offline retail store in the country were delayed …
Apple to open first company-owned retail store in India Read More »
By Swati Bhat MUMBAI (Reuters) – India’s central bank is widely expected to raise its benchmark rate on Thursday for the seventh consecutive meeting and leave the door open for more increases to bring inflation back within its target range, economists said. A large majority of economists, 49 of 62, said the Reserve Bank of …
India central bank set to raise rates 25 bps on elevated inflation, keep hawkish stance Read More »
By Matthew Chye and Carman Chew SINGAPORE (Reuters) -India’s power generation grew at the fastest pace in over three decades in the just-ended fiscal year, a Reuters analysis of government data showed, fuelling a sharp surge in emissions as output from both coal-fired and renewable plants hit records. Intense summer heatwaves, a colder-than-usual winter in …
India’s power output grows at fastest pace in 33 years, fuelled by coal Read More »
By Deep Kaushik Vakil (Reuters) – Safe-haven gold touched its highest in one year on Wednesday as recent U.S. economic data fanned fears of a slowdown and spurred bets the Federal Reserve may ease up on rate hikes. Spot gold was steady at $2,020.30 per ounce by 01:46 p.m. EDT (1746 GMT), after rising to …
Gold scales 1-year peak as slowdown worries mount Read More »
NEW DELHI (Reuters) – Landslides in the Indian Himalayas around hydro power projects were caused mainly by topography, geological conditions and rainfall, the power ministry said on Wednesday, citing a study that ruled out construction as a factor. The government-run Indian Institute of Remote Sensing study of nine sites of state hydropower board NHPC Ltd …
India says landslides near hydro projects unrelated to construction Read More »
