Over the past few months, India’s cryptocurrency market has continued to be in a constant state of flux. From crypto bans imposed by the country’s central bank to a historic ruling by its Supreme Court to lift that ban, for most onlookers it appears that India’s crypto market has experiencedRead More →
Despite the economic crisis, cryptocurrency trading platforms in India are reporting record-breaking volumes and new users. “People in India are betting big on bitcoin,” Paxful’s CEO said. “The Indian market holds great potential and importance for the future of the crypto-economy.” Record-Breaking Growth Across the Indian Crypto Industry Cryptocurrency tradingRead More →
NEW DELHI (Reuters) – India’s Bharti Airtel Ltd (NS:) said it was complying with a Supreme Court order to pay dues, after it paid more than 80 billion rupees ($1.10 billion) to the Department of Telecommunications (DoT) on Saturday. The court, which had ordered Vodafone Idea (NS:) and Bharti AirtelRead More →
By Nupur Anand and Chris Thomas MUMBAI/BENGALURU (Reuters) – India’s Yes Bank Ltd (NS:) aims to raise up to $2 billion in a massive issue of new shares to institutional investors and wealth managers as it soaks up the impact of bad loans in the country’s crisis-hit shadow banking andRead More →
NEW DELHI (Reuters) – India’s top telecom firms, Bharti Airtel (NS:) and Vodafone Idea (NS:), have asked the Supreme Court to review a ruling forcing them to pay the bulk of outstanding government dues of $13 billion, media said on Saturday. Last month’s ruling gave telecom operators three months inRead More →
© Reuters. FILE PHOTO: An employee walks past a signage board in the Infosys campus at the Electronics City IT district in Bangalore BENGALURU (Reuters) – Infosys Ltd (NS:) (N:) on Thursday said the U.S. Securities and Exchange Commission (SEC) has launched a probe into whistleblower claims that the IndianRead More →
Total SA has agreed to acquire a 37.4% stake in India’s Adani Gas Ltd. as the French oil-and-gas major looks to expand its footprint in the energy-hungry South Asian nation. India’s natural-gas market has substantial growth potential as New Delhi aims to diversify its energy mix and develop the domesticRead More →
NEW DELHI (Reuters) – India’s passenger vehicle sales slumped 23.7% in September – the eleventh straight month of declines – amid one of the worst slowdowns seen in the auto industry, data released by an industry body showed on Friday. Passenger vehicle sales dropped to 223,317 units in September, theRead More →
MUMBAI (Reuters) – The recent drop in Indian lender Yes Bank Ltd’s (NS:) stock price does not reflect the bank’s performance and it remains on a solid financial footing, Chief Executive Ravneet Gill said on a conference call on Thursday. “The operating metrics of the bank, the performance of theRead More →
By David Lawder and Neha Dasgupta WASHINGTON/NEW DELHI (Reuters) – The United States and India are racing to negotiate a limited trade deal that U.S. President Donald Trump and Indian Prime Minister Narendra Modi can sign at the United Nations General Assembly in New York at the end of September,Read More →
By Swati Bhat and Nupur Anand MUMBAI (Reuters) – Sudhir Gharpure and his sales team sat chatting at a big Maruti Suzuki (NS:) dealership on the outskirts of Mumbai some two hours after its doors were opened on a recent Saturday morning – not a single customer was in sight.Read More →
NEW DELHI (Reuters) – India’s Allahabad Bank (NS:) on Saturday became the second Indian state-owned bank to report a major alleged fraud by bankrupt steelmaker Bhushan Power & Steel Ltd this month, adding to concerns about a banking industry burdened with bad debts. Allahabad Bank said in a statement thatRead More →
MUMBAI (Reuters) – India’s state-run Punjab National Bank (PNB) on Saturday said it had reported a borrowing fraud of 38.05 billion Indian rupees ($556 million) in Bhushan Power & Steel Ltd’s account to the country’s central bank. The fraud, “alleging diversion of funds from the banking system” was being reportedRead More →
© Reuters. FILE PHOTO – A worker sits on a ship carrying containers at Mundra Port in the western Indian state of Gujarat By Nandita Bose WASHINGTON (Reuters) – Twenty-four U.S. members of Congress sent a letter on Friday to U.S. Trade Representative Robert Lighthizer, urging him not to endRead More →
© Reuters. Ajay Singh, Chairman of Indian low-cost carrier SpiceJet, speaks with the media before the landing of an amphibious seaplane from Japan’s Setouchi Holdings in the Arabian Sea as part of a demonstration by SpiceJet in Mumbai (Reuters) – India’s SpiceJet Ltd said on Friday it will prioritize hiringRead More →
© Reuters. A SpiceJet passenger aircraft is seen after it overshoot the runway while landing on Tuesday night at the airport in Mumbai By Jamie Freed SINGAPORE (Reuters) – Budget Indian airline SpiceJet Ltd said on Friday it planned to lease a “first lot” of 16 Boeing (NYSE:) Co 737-800sRead More →
© Reuters. A woman checks her mobile phone inside the premises of the Supreme Court in New Delhi By Suchitra Mohanty and Suvashree Choudhury NEW DELHI/MUMBAI (Reuters) – India’s Supreme Court on Tuesday quashed a Reserve Bank of India circular on resolving bad debt, providing relief for some major corporateRead More →
© Reuters. FILE PHOTO: Workers cover the cockpit window of a Jet Airways aircraft parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India NEW DELHI (Reuters) – The pilots’ union of India’s troubled Jet Airways said on Sunday it will give the carrier’s new management two weeks toRead More →
© Reuters. FILE PHOTO: Jet Airways aircrafts are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai NEW DELHI (Reuters) – Indebted Indian carrier Jet Airways will pay December salaries to pilots and aircraft maintenance engineers but for now cannot pay more recent overdue wages, its chief executiveRead More →
© Reuters. FILE PHOTO: A man reads a newspaper outside a branch of Punjab National Bank in Ahmedabad By Chris Thomas and Krishna V Kurup (Reuters) – One year after being hit by a $2 billion scam, India’s Punjab National Bank (PNB) is set to return to annual profits andRead More →
© Reuters. Private equity firms eye bonanza in India’s residential real estate space By Swati Bhat MUMBAI (Reuters) – India’s cash-starved residential real estate market is set to get a boost from foreign and domestic private equity firms, which are lining up big bets worth hundreds of millions of dollarsRead More →
© Reuters. FILE PHOTO: A bird flies next to the logo of IL&FS installed on the facade of a building at its headquarters in Mumbai MUMBAI (Reuters) – India’s heavily indebted Infrastructure Leasing & Financial Services (IL&FS) said on Wednesday it has received more than 30 expressions of interest forRead More →
