Indian Rupee rises as India’s positive Q2 GDP and reduced fiscal deficit are announced.
The Indian Rupee (INR) saw a significant increase against the US Dollar on Tuesday, with the USD/INR pair dropping to around 94.80—marking its lowest level in two months. This movement is likely attributed to intervention from the Reserve Bank of India (RBI), more robust than anticipated Q2 Gross Domestic Product (GDP) figures, and a reduction […]
India’s largest IPO this year attracts $31 billion in bids due to strong institutional interest.
SBI Fund Management Makes Waves in India’s IPO Market SBI Fund Management Co., Ltd. made headlines recently, having received bids totaling an impressive amount in India’s largest public market event this year. The figure reached 2.97 trillion rupees (about $30.7 billion), drawing attention to the liquidity that’s currently present in the market, especially with a […]
India’s central bank opposes offshore settlement for government bonds, sources indicate
RBI’s Stance on Offshore Settlement of Government Securities India’s central bank has no plans to permit direct transactions of government securities via offshore payment systems like Euroclear, according to three sources with knowledge of the situation. This decision comes even after recent tax reforms aimed at luring foreign investors. The Reserve Bank of India (RBI) […]
India’s Main Gas Supplier Turns Out to Be America During Strait of Hormuz Tensions
US Becomes India’s Top LNG Supplier According to CNBC, the US has taken the lead as India’s largest supplier of liquefied natural gas (LNG) as of May. This aligns with predictions made by President Trump last year that the US would soon become a significant supplier to India. During a meeting with Indian Prime Minister […]
Air India’s health and weight policy may lead to cabin crew facing unpaid leave.
Air India to Implement Controversial BMI Policy for Cabin Crew Air India is preparing to roll out a new policy that connects cabin crew qualifications with body mass index (BMI) standards. This initiative has sparked considerable debate, attracting various opinions. The airline issued a statement noting that the policy aims to “raise awareness about healthy […]
HDFC Bank stock drops 5% after the part-time chairperson of India’s largest private bank resigns due to ethical concerns.
HDFC Bank’s Stock Falls After Chairman’s Resignation On September 6, 2023, a man was spotted walking past the HDFC Bank stall at the Global FinTech Fest in Mumbai, India. Following the resignation of non-executive chairman Atanu Chakraborty, HDFC Bank’s stock decreased by 5%. This situation raises questions about governance and ethical concerns within the bank. […]
India’s neobank Fi halts banking services on its platform
Fi Discontinues Banking Services in India Fi, a neobank in India, is set to discontinue its banking services, marking the end of more than four years of collaboration with Federal Bank. Customers are now being directed to manage their savings accounts via the bank’s mobile app as the Fi interface diminishes. Founded in 2019 by […]
Putin guarantees India’s Prime Minister a steady supply of Russian oil while Trump advises New Delhi to reduce its purchases.
Putin and Modi Discuss Energy Cooperation Amid U.S. Pressure On Friday, Russian President Vladimir Putin held discussions with Indian Prime Minister Narendra Modi, asserting his commitment to providing “uninterrupted transportation of fuel” to India. This comes as U.S. President Donald Trump urges Modi to steer clear of Russian crude oil purchases. This summit is significant […]
Sen. Moreno’s HIRE Act Viewed as a Significant Risk to India’s Service Sector
Jairam Ramesh, General Secretary of the Indian National Congress, shared insights online regarding a proposed U.S. bill that could significantly affect India’s tech and services sector. This bill, the International Job Relocation Suspension Act, was introduced by Ohio Senator Bernie Moreno. On October 6, Moreno put forward the HIRE Act, which has been sent to […]
India’s banking industry receives its biggest foreign investment to date
Good morning. The Prime Minister’s Office has announced that Prime Minister Narendra Modi will attend the ASEAN summit virtually instead of traveling to Malaysia. This has stirred speculation about a potential meeting with Donald Trump. While domestic media is buzzing about a trade deal on the horizon, notable differences in the bilateral relationship persist. Following […]