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April 8 (Reuters) - Adani Green Energy on Wednesday said group chair Gautam Adani and his nephew Sagar Adani plan to seek dismissal of a civil suit stemming from an alleged bribery scheme filed by the U.S. Securities and Exchange Commission in a New York court by April 30. * The company said that the defendants have submitted apre-motion letter to the court indicating their intent to seekdismissal of the SEC's complaint and said they are willing toattend a pre-motion hearing, if scheduled. * T ...Read More >
By Jaspreet Kalra and Abinaya V MUMBAI, April 8 (Reuters) - The Reserve Bank of India kept its key policy rate unchanged on Wednesday as it awaits clearer evidence of the impact from the Iran war on the South Asian nation's economy. The RBI's six-member monetary policy committee voted to keep the repo rate steady at 5.25%. All six members of the rate panel, which includes three central bank officials and three external appointees, voted to hold rates. The MPC also decided to continue with th ...Read More >
April 6 (Reuters) - Shares of Wipro rose as much as 3.2% on Monday after the Indian IT services firm agreed to buy the IT services business of Singapore-based Olam Group for an enterprise value of $375 million. The stock was last up 1.9% at 9:34 a.m. IST, making it the top gainer on the IT index, which was trading 0.5% higher. It was also the second-biggest gainer on the benchmark Nifty 50, which was down 0.2%. Olam Holdings, a unit of the Singapore food and agribusiness conglomerate, will se ...Read More >
BENGALURU, Dec 16 (Reuters) - India's private sector activity ended the year on a sombre note, expanding at its weakest pace in ten months in December as a slowdown in new orders took the steam out of both the manufacturing and services sectors, a survey showed on Tuesday. While the economy remains in expansionary territory, the deceleration coupled with a near-stagnant job market indicates domestic demand is cooling, dragging overall momentum down from the highs seen earlier in 2025. HSBC's ...Read More >
MUMBAI, Dec 1 (Reuters) - India's current account deficit moderated in the July-to-September quarter on the back of a lower merchandise trade deficit, the Reserve Bank of India said on Monday. The current account deficit stood at $12.3 billion, or 1.3% of GDP, in the second quarter of the fiscal year 2025-26, compared with an upwardly revised deficit of $20.8 billion, or 2.2% of GDP, in the same quarter a year ago. In the preceding quarter, the current account had recorded a deficit of $2.4 bi ...Read More >
MUMBAI, Dec 1 (Reuters) - India's current account deficit moderated in the July-September quarter on the back of a lower merchandise trade deficit, the Reserve Bank of India said on Monday. The current account deficit stood at $12.3 billion, or 1.3% of GDP, in the second quarter of the fiscal year 2025-26, compared with an upwardly revised deficit of $20.8 billion, or 2.2% of GDP, in the same quarter a year ago. In the preceding quarter, the current account had recorded a deficit of $2.4 billi ...Read More >
BENGALURU (Reuters) -The Reserve Bank of India on Tuesday proposed changes to the way banks assign risk weightage to loans and the so-called expected credit loss (ECL) framework, in a move aimed at aligning domestic regulations with global norms. The proposed changes seek to ease the risk weightage, or capital that must be set aside, for different types of loans. Major changes include differentiated risk weights for corporate loans, loans to micro, small and medium enterprises (MSMEs) as well ...Read More >
By Aditi Shah and Chandini Monnappa MUMBAI (Reuters) -Tesla launched on Tuesday its Model Y at about $70,000 in India, a significant markup relative to its other major markets, reflecting the country's high tariffs on electric vehicle imports which CEO Elon Musk has long-criticised. With deliveries estimated to start from the third quarter, the U.S. automaker is targeting a niche electric vehicle segment in India that accounts for just 4% of overall sales in the world's third-largest car marke ...Read More >
BENGALURU (Reuters) -Draft legislation by India's tech hub state of Karnataka that would impose jail terms of up to seven years for spreading "fake news" and other misinformation has stirred concerns among free speech activists that it could lead to censorship. With nearly 1 billion internet users, the stakes are high in a sprawling country of many ethnic and religious communities where fake news risks stirring deadly strife and AI deepfake videos have alarmed officials during elections. India ...Read More >
MUMBAI (Reuters) -India's current account posted a surplus for the first time in four quarters in the January-March period, helped by higher services exports, the central bank said on Friday. The current account surplus stood at $13.5 billion, or 1.3% of GDP in the fourth quarter of the fiscal year 2024-2025 versus the polled estimate of $8.5 billion, or 0.9% of GDP. The surplus compares with a deficit of $11.3 billion or 1.1% of GDP in the preceding quarter, the Reserve Bank of India said in ...Read More >
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