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MUMBAI, Aug 14 (Reuters) - S&P Global Ratings on Thursday upgraded India's long-term sovereign credit rating to 'BBB' from 'BBB-', the first upgrade in 18 years, citing strong economic growth, improved monetary policy credibility, and sustained fiscal consolidation. Fitch has rated India at 'BBB-' since 2006 while Moody's has had a 'Baa3' rating in place since June 2020. The upgrade follows S&P's decision in May 2024 to revise India's outlook to positive from stable, driven by robust growth an ...Read More >
MUMBAI, Aug 14 (Reuters) - Credit rating agency S&P Global upgraded India's long-term unsolicited sovereign credit ratings to "BBB" from "BBB-" on Thursday, citing economic resilience and sustained fiscal consolidation. The agency had revised the outlook on India's rating in May last year to positive from stable on robust growth and improved quality of government expenditure. "The upgrade of India reflects its buoyant economic growth, against the backdrop of an enhanced monetary policy environ ...Read More >
Kolkata, Aug 14 (PTI) Chief Minister Mamata Banerjee on Thursday said India would not have got Independence if Bengal was not there, as personalities like Rabindranath Tagore and Subhas Chandra Bose, who contributed significantly to shaping the nation's destiny, were born here. Speaking at a function marking the 12th anniversary of the 'Kanyashree' scheme, Banerjee said Bengal is the beacon of hope which stands for unity amid diversity. "If Bengal was not there, India would not have got Indepe ...Read More >
MUMBAI, Aug 14 (Reuters) - India's foreign exchange reserves are expected to have risen in the week through August 8, according to economists calculations based on the Reserve Bank of India's weekly reserve money release. A $5 billion dollar/rupee swap by the RBI matured that week, with bankers saying the central bank delivered the swap, a move that is a drain on reserves. Further, the RBI intervened in both the onshore spot and non-deliverable forward markets that week to prevent the rupee fr ...Read More >
NEW DELHI, Aug 6 (Reuters) - Indian Prime Minister Narendra Modi will visit China for the first time in over seven years, a government source said on Wednesday, in a further sign of a diplomatic thaw with Beijing as tensions with the United States rise. Modi will go to China for a summit of the multilateral Shanghai Cooperation Organisation that begins on Aug. 31, the government source, with direct knowledge of the matter, told Reuters. India's foreign ministry did not immediately respond to a ...Read More >
Ranchi (Jharkhand) [India], August 4 (ANI): The Jharkhand government declared a three-day state mourning, starting Monday, following the passing of the state's former Chief Minister and co-founder of Jharkhand Mukti Morcha, Shibu Soren. "In honour of the late Honourable former Chief Minister-cum-Rajya Sabha MP, the State Government has decided to observe 03 (three) days of state mourning from August 4 to August 6," the message from the Jharkhand government read. Also Read | Kerala Shocker: 47- ...Read More >
Aug 4 (Reuters) - A joint venture between India's JSW Steel (JSTL.NS), opens new tab and Japan's JFE Steel will invest 58.45 billion rupees ($669 million) to expand production capacity of cold rolled grain-oriented electrical steel across two Indian plants to meet growing domestic demand, JSW Steel said on Monday. JSW and JFE will equally fund a combined 19.66 billion rupees for the expansion through equity, JSW Steel said. The added capacity will be commissioned in phases from fiscal year 2028 ...Read More >
NEW DELHI: Amid worsening weather conditions and continuous rainfall in parts of Uttar Pradesh, all government and private schools from Classes 1 to 12 in Lucknow will remain closed on Monday, according to district magistrate Visakh G Iyer.Several parts of Varanasi were inundated on Monday following relentless downpours and a steady rise in the water level of the River Ganga. The river has been rising continuously since Saturday, triggering concerns of urban flooding.In response, authorities hav ...Read More >
MUMBAI, Aug 4 (Reuters) - India's central bank is expected to hold rates steady on Wednesday, but the odds of another cut have risen after the United States slapped steep tariffs on Indian exports last week, adding to pressure on growth even as inflation stays subdued. A large majority of economists, or 44 of 57, in a July 18-24 Reuters poll expect the Reserve Bank of India's monetary policy committee (MPC) to hold the repo rate at 5.50% on August 6. However, sentiment has shifted following th ...Read More >
New Delhi [India], August 3 (ANI): In the ongoing second edition of the Delhi Premier League (DPL), Central Delhi Kings' Yash Dhull lit up the Arun Jaitley Stadium with a sensational century -- the first of DPL 2025 -- to guide his team to a commanding 8-wicket victory over North Delhi Strikers. Chasing a target of 175, Dhull put on a batting masterclass, remaining unbeaten on 101 off just 56 deliveries, laced with eight fours and seven sixes. His composed yet aggressive innings ensured Central ...Read More >
LONDON, Aug 3 (Reuters) - India dismissed Ben Duckett and Ollie Pope to take charge of the final test as England moved unconvincingly on to 164-3 at lunch on the fourth day at The Oval on Sunday. The touring side are a healthy 209 runs ahead with five sessions remaining and need seven more wickets for a victory that would level a gripping series at 2-2. It could have been even better for India, however, because Harry Brook survived a huge scare when he was caught in the deep by Mohammed Siraj, ...Read More >
Gross Goods and Services Tax (GST) collections rose 7.5 per cent year-on-year to Rs 1.96 lakh crore in July (for sales in June), data released by the government on Friday showed. Even though the pace of growth in gross GST collections picked up to 7.5 per cent in July from 6.2 per cent, this is the second consecutive month wherein the growth rate has been in single digits and much lower after posting double-digit growth in the first two months of the ongoing financial year. ARTICLE CONTINUES BE ...Read More >
LONDON, Aug 1 (Reuters) - India roared back into contention on an exhilarating day two of the final test on Friday as their seamers restricted England to a 23-run lead after the hosts had threatened to run away with a match that the tourists need to win to square the series. After mopping up India's brittle tail in less than 30 minutes in the morning, openers Zac Crawley and Ben Duckett raced to 92-0 in 12 overs in a blistering return of Bazball. However, continuing the back and forth theme of ...Read More >
NEW DELHI, Aug 1 (Reuters) - India has completed due diligence for the stake sale of IDBI Bank (IDBI.NS), opens new tab and plans to invite financial bids between October and December, the country's divestment secretary said on Friday. A successful bidder will be announced by the end of March 2026, said Arunish Chawla, Department of Investment and Public Asset Management Secretary. Banking sector deals in India, especially those involving foreign entities, are rare. A full takeover of troubled ...Read More >
Hyderabad, July 18 (UNI) In view of the ongoing heavy rains in Hyderabad, Chief Minister A Revanth Reddy has directed all concerned departments to stay on high alert and ensure swift response to public grievances. The Chief Minister instructed officials from GHMC, HMDA, Water Works, Electricity, and Police departments to work in close coordination to prevent any rain-related disruptions. He also emphasised the need for immediate action in areas facing waterlogging, power outages, or other rain- ...Read More >
BENGALURU, July 18 (Reuters) - Inter Kashi have been named champions of India's I-League after the Court of Arbitration for Sport ruled in favour of the club in their dispute with the All India Football Federation. In May, the AIFF named Churchill Brothers winners of the country's second division, after the governing body's appeals committee ruled against Inter Kashi for fielding an 'ineligible player' in Mario Barco. According to reports in Indian media, Inter Kashi registered Barco twice, si ...Read More >
Dimapur, Jul 18 (PTI) Two persons have died of Japanese Encephalitis (JE) in Nagaland, a health department official said on Friday. Chief Medical Officer, Dimapur, Dr Yartenla Jamir, said that of the seven JE cases detected in Dimapur, Chumoukedima, and Niuland districts, two persons have died so far. She expressed concern over the rise in Japanese encephalitis (JE) cases in the three districts, especially during the monsoon season, which increases the risk of transmission. The Health departm ...Read More >
NEW DELHI/LONDON, July 18 (Reuters) - India and Britain are expected to seal a long-awaited free trade deal next week, two Indian government sources said, granting Indian textiles and electric vehicles some duty-free access to the UK market and easing British exports of whisky, cars and food. In May, both countries announced the conclusion of trade negotiations after three years of stop-start negotiations, aiming to increase bilateral trade, remove trade barriers and allow duty-free entry of go ...Read More >
Patna, July 17 (SocialNews.XYZ) The Election Commission of India (ECI) has issued a categorical rebuttal to a viral video shared by YouTuber Ajit Anjum, calling it "false and misleading" amid ongoing political debate over the Special Intensive Revision (SIR) of electoral rolls in Bihar. The video, which claimed that a Booth Level Officer (BLO) in Patna was seen filling out and signing several voter forms, sparked political reactions and public concern. RJD MP Manoj Jha amplified the video on s ...Read More >
New Delhi, Jul 17 (PTI) The Panchayati Raj Ministry on Thursday said it has brought together 19 partner institutes of planning and architecture to prepare spatial development plans for 36 gram panchayats across 14 states as a pilot project. A two-day workshop in this regard, titled 'Navingram --" Re-Imagining the Village', commenced in Madhya Pradesh capital Bhopal on Thursday, the ministry said in a statement. A Gram Panchayat Spatial Development Plan (GPSDP) is a comprehensive plan that guid ...Read More >
July 17 (Reuters) - Indian IT services exporter LTIMindtree (LTIM.NS), opens new tab reported first quarter revenue just below estimates on Thursday, as cautious spending by clients slowed growth in its key North America market to the lowest in over a year. Persistent inflation, weak demand and U.S. trade policy uncertainties are delaying non-essential tech projects, weighing on hopes of a rebound for India's $283 billion IT sector. Clients in the banking, financial services and insurance (BFS ...Read More >
MUMBAI, July 17 (Reuters) - India's largest property developer DLF (DLF.NS), opens new tab expects to review offers from potential partners, as it works on a project to build luxury flats in a slum area of Mumbai that marks its return to the city, it said on Thursday. DLF left Mumbai more than a decade ago, when it sold off land to reduce debt and turned its focus to New Delhi and regions around the capital. It had since become one of India's largest luxury property developers, building premiu ...Read More >
Bhubaneswar, July 17 (UNI) The Criminal Investigation Department (CID) of Odisha police on Thursday arrested two fraudsters on the charge of cheating Rs 1.56 crore from a woman in Odisha's Cuttack district on the pretext of higher returns in online gaming platforms. The CID sleuths acted on a complaint filed by Mamata Rout (38), a native of Balisahi village under the Salipur police station jurisdiction of Cuttack, alleging that she was cheated to the tune of Rs 1.56 crore by the accused persons ...Read More >
NEW DELHI, July 17 (Reuters) - India's aircraft accident investigation body said on Thursday it was too early to reach any "definite conclusions" on what led to the deadly Air India Boeing plane crash last month that killed 260 people. "We urge both the public and the media to refrain from spreading premature narratives that risk undermining the integrity of the investigative process," Aircraft Accident Investigation Bureau (AAIB) chief GVG Yugandhar said, adding that the investigation is still ...Read More >
July 17 (Reuters) - Indian IT services exporter LTIMindtree (LTIM.NS), opens new tab reported on Thursday lower-than-expected revenue for the first quarter, as global clients cut back on discretionary technology projects amid persistent economic uncertainty and geopolitical tensions. Consolidated revenue for the first quarter rose 7.6% year-on-year to 98.41 billion rupees ($1.14 billion), missing analysts' average estimate of 98.51 billion rupees, according to LSEG data. ($1 = 86.0650 Indian r ...Read More >
BENGALURU, July 17 (Reuters) - Indian private lender Axis Bank (AXBK.NS), opens new tab reported a surprise drop in first-quarter profit on Thursday, as it set aside more funds for potential bad loans and as its lending margin contracted. The standalone net profit at India's fourth-largest private lender by market capitalisation fell 4% to 58.06 billion rupees ($674.8 million) for the quarter ended June 30 from 60.35 billion rupees a year earlier. Analysts had expected a profit of 63.73 billion ...Read More >
NEW DELHI, July 17 (Reuters) - India is confident of meeting its oil needs from alternative sources if Russian supplies are hit by secondary sanctions, Oil Minister Hardeep Singh Puri said on Thursday. Earlier this week, U.S. President Donald Trump warned that countries purchasing Russian exports could face sanctions if Moscow fails to reach a peace agreement with Ukraine within 50 days. Separately, NATO Secretary General Mark Rutte warned on Wednesday that some countries, including India, cou ...Read More >
July 17 (Reuters) - A unit of India's Adani Enterprises (ADEL.NS), opens new tab will exit AWL Agri Business, its joint venture with Singapore's Wilmar (WLIL.SI), opens new tab, for 108.74 billion rupees ($1.27 billion), the conglomerate said on Thursday. Adani Commodities, which holds a 30.42% stake in the consumer goods JV, will sell an up to 20% stake to Wilmar unit Lence, and the rest to "a set of pre-identified investors," Adani Enterprises said, without elaborating. Adani Commodities wil ...Read More >
Mumbai: A 40-year-old man has been arrested in Mumbai for allegedly strangling his five-year-old stepdaughter and dumping her body in the Arabian Sea. The body was discovered floating near Sassoon Dock in Colaba on Tuesday morning, leading to the swift arrest of the accused.According to the police, the child had been reported missing from the Antop Hill area in Central Mumbai a day earlier. Her mother, Nazia, who works as a housemaid, and Imran Shaikh, the accused, had approached the Antop Hill ...Read More >
NEW DELHI, July 16 (Reuters) - State-run GAIL (India) Ltd is seeking liquefied natural gas (LNG) for delivery from 2027 under a five-to-10-year deal linked to Brent crude oil prices, four sources aware of the inquiry said. The Indian company is looking to buy six cargoes of the super chilled gas in 2027, and eight cargoes in the second year of the deal, they said. From the third year onward, GAIL is seeking to buy one cargo every month, they said. The deadline for submitting offers closes on J ...Read More >
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