updated 8:03 AM UTC, Aug 19, 2017

Indian IT Hits Worst Slump In 7 Years: Foreign Media

Saturday, 19 August 2017 13:33
The resignation of Vishal Sikka as chief executive officer of India's bellwether technology company masks the rot in India's once feted export sector. While Sikka cited heightened acrimony with a cohort of founders at Infosys Ltd., the malaise is much…

RBI Cuts Repo Rate To 7-Year Low Of 6%, Loans Could Get Cheaper

Wednesday, 02 August 2017 17:13
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) today cut repo rate, or its key lending rate, by 25 basis points to 6 per cent - the lowest since November 2010. Falling inflation allowed the central…

Rupee Surges To Two-Year High Against US Dollar Today

Wednesday, 02 August 2017 17:10
Indian rupee surged to a two-year high of 63.73 against the dollar today. The rupee had closed at 64.07 per dollar on Tuesday. The rupee has been one of the best performing currencies in the world, surging over 6 per…

Anil Ambani's Summer Asset Sale Expands As Banks Tighten Screws

Wednesday, 28 June 2017 09:52
Under pressure from lenders, the restructuring of billionaire Anil Ambani's mobile-to-metro conglomerate is turning into a summer sale.Companies controlled by Ambani are trying to sell road assets, an undersea cable business and prime real estate in Mumbai and New Delhi.…

Lockheed Martin, Tata Ink Deal To Make F-16 Fighters In India

Tuesday, 20 June 2017 09:31
London: Tata Group and American aerospace giant Lockheed Martin on Monday signed an "unprecedented" deal to jointly produce the combat-proven F-16 fighter jets in India, boosting Prime Minister Narendra Modi's 'Make in India' plan ahead of his first summit with…

Banks To Go To Court Over Bad Loans Of 12 Largest Debtors

Wednesday, 14 June 2017 08:45
India's banks have been ordered to use the country's courts to resolve bad loans totaling about Rs. 2 lakh crore ($31 billion) issued to 12 large debtors.The Reserve Bank of India told the banks to use insolvency laws to find…