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Jaitley allocates 331.5 bln rupees for health sector

Mar 01, 2015 at 03:30 | Source: FirstPost

NEW DELHI (Reuters) - India will allocate 331.5 billion Indian rupees ($5.38 billion) to the country's health sector, Finance Minister Arun Jaitley said on Saturday, when presenting the government's full-year budget. ($1 = 61.6489 rupees) (Reporting ...

India aims to invest $137 billion in railways in next 5 years

Feb 27, 2015 at 00:45 | Source: FirstPost

NEW DELHI (Reuters) - The government unveiled plans on Thursday to invest $137 billion in its decrepit rail network over the next five years, heralding Prime Minister Narendra Modi's aggressive approach to building infrastructure needed to unlock fas...

India to embark on rail investment splurge thanks to cheap oil

Feb 26, 2015 at 03:15 | Source: FirstPost

NEW DELHI (Reuters) - India's decrepit state-run train services stand to receive at least a 25 percent boost in investment to over $9 billion, funded solely by falling fuel costs, according to officials familiar with a railway budget set to be unveil...

RBI eases some restrictions on shadow bank lending

Feb 21, 2015 at 00:45 | Source: FirstPost

MUMBAI (Reuters) - The Reserve Bank of India (RBI) on Friday eased lending regulations governing the country's shadow banking industry, removing investor limits and the need for collateral guarantees on standard debt transactions.The RBI said shadow ...

India eases some restrictions on shadow bank lending

Feb 21, 2015 at 00:30 | Source: FirstPost

MUMBAI (Reuters) - The Reserve Bank of India (RBI) on Friday eased lending regulations governing the country's shadow banking industry, removing investor limits and the need for collateral guarantees on standard debt transactions.The RBI said shadow ...

RBI warns banks against making "mockery" of its lending operations

Feb 20, 2015 at 03:15 | Source: FirstPost

MUMBAI (Reuters) - The Reserve Bank of India (RBI) is getting tougher on extending unlimited credit to the country's banks to try to ensure they push interest rate cuts through the financial system and to stop them from making what one official calle...

China calls the shots in Asia's currency war

Feb 19, 2015 at 03:15 | Source: FirstPost

SINGAPORE (Reuters) - As fears of a global currency war grow, all eyes in Asia are on whether China will devalue its currency to avert a sharper economic slowdown.The urgency with which Asian central banks are cutting interest rates is an indication ...

Rupee snaps two-session gain, falls 18 paise to close at 62.34/$

Feb 18, 2015 at 19:58 | Source: FirstPost

Mumbai: The Indian rupee today snapped its two-session uptrend against the American currency, falling 18 paise to close at 62.34 on fresh dollar demand from banks and importers.The dollar was trading up in global markets on caution ahead of the US Fe...

Kidney racket goes global: Operators take donor abroad to dodge Indian law

Feb 18, 2015 at 16:42 | Source: FirstPost

Hyderabad: The human organ racket, which was confined to India earlier, has spread beyond the countrys borders. With commercial donation of body parts prohibited by law, the operators have found a way to out continue with their activities. Seal the d...

Sun Pharma third-quarter profit falls

Feb 14, 2015 at 21:30 | Source: FirstPost

MUMBAI (Reuters) - Sun Pharmaceutical Industries Ltd, India's largest drugmaker, said on Saturday third-quarter net profit fell unexpectedly due to a decline in sales in the United States and costs from resolving regulatory issues at a manufacturing ...

ONGC Q3 profit halves, hurt by crude slump

Feb 14, 2015 at 19:30 | Source: FirstPost

MUMBAI (Reuters) - India's Oil and Natural Gas Corp's net profit halved in the third quarter, its second successive quarterly profit drop, hurt by the continuing decline in crude prices which impacted the state explorer's sales.Brent crude has dived ...

Cipla Q3 net profit up 15.5 pct

Feb 12, 2015 at 23:33 | Source: FirstPost

MUMBAI (Reuters) - Cipla Ltd, India's fourth-largest drugmaker by sales, on Thursday reported a 15.5 percent rise in its third-quarter profit, slightly lagging analysts' estimates. Net profit for the December quarter was 3.28 billion rupees ($52.7 mi...

Rupee falls for the third day, ends at fresh one month low of 62.25/$

Feb 11, 2015 at 18:39 | Source: FirstPost

Mumbai: The Indian rupee fell for the third consecutive session today against the American currency, slipping by six paise to close at fresh one-month low of 62.25 on persistent dollar demand from banks and importers.Talk of persistent foreign capita...

India says to inject $1.1 billion into nine state-run banks

Feb 07, 2015 at 19:30 | Source: FirstPost

MUMBAI (Reuters) - India will inject 69.90 billion rupees ($1.13 billion) into nine state-run banks including State Bank of India in the financial year 2015, the finance ministry said on Saturday.In a statement, it said the plan aimed to reward the b...

Reuters poll - Yuan to reverse weakening trend, rupee seen easing as dollar rallies

Feb 07, 2015 at 02:15 | Source: FirstPost

BENGALURU (Reuters) - The Chinese yuan will reverse its recent weakening trend and appreciate over the next year due to the country's large trade surplus, despite expectations that its central bank will ease policy further, a Reuters poll showed.The ...

NMDC cuts iron ore prices by up to 11 percent in February

Feb 07, 2015 at 00:15 | Source: FirstPost

MUMBAI (Reuters) - NMDC Ltd (NMDC.NS), India's biggest iron ore producer, said on Friday it had cut prices of the mineral by up to 11 percent for February, a welcome move for domestic steelmakers already pressured by a surge in steel imports.The publ...

HDFC Bank's India offer oversubscribed, seen encouraging other sales

Feb 06, 2015 at 01:45 | Source: FirstPost

MUMBAI (Reuters) - HDFC Bank's (HDBK.NS) $324 million share offering in India was more than 4 times oversubscribed, according to bankers and investors, a strong reception that is expected to encourage a rush of domestic equity sales from other compan...

Rupee washes out initial losses against $, edges up three paise at close

Feb 05, 2015 at 20:17 | Source: FirstPost

Mumbai: The Indian rupee washed out initial losses against the greenback to edge up by two paise at 61.73 on fag-end selling of dollars by banks and exporters.The rupee resumed lower at 61.87 per dollar as against the yesterday's closing level of 61....

RBI should hold rate steady even if Budget 2015 is good

Feb 04, 2015 at 10:03 | Source: FirstPost

The expectation of further rate cut from RBI is almost universal now. Most market participants differ only on the amount of rate cut they expect in 2015-16, which varies from 25 basis points to 100 basis points.However a less likely, though not remot...

To support growth revival, RBI should hold rate steady even if Budget is good

Feb 04, 2015 at 07:40 | Source: FirstPost

The expectation of further rate cut from RBI is almost universal now. Most market participants differ only on the amount of rate cut they expect in 2015-16, which varies from 25 basis points to 100 basis points.However a less likely, though not remot...

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