Reuters India

Debt fund taxation changes to impact corporate bond demand – fund managers

By Dharamraj Dhutia and Bhakti Tambe MUMBAI (Reuters) – India’s decision to take away long term tax benefits for debt mutual funds is likely to weaken demand for longer duration corporate bonds, eventually leading to higher costs of raising funds, mutual fund investors said on Monday. The country amended a bill last week to tax …

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Indian banks must hear loan defaulters before declaring accounts as fraud – top court

By Arpan Chaturvedi and Siddhi Nayak NEW DELHI (Reuters) – Indian banks must give defaulters an opportunity to be heard before they classify a loan account as fraud, the Supreme Court ruled on Monday. Banks cannot unilaterally declare an account as fraud without providing the defaulter the right to be heard, a top court bench …

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Cricket-Indore pitch rating changed to ‘below average’ from ‘poor’

(Reuters) – The International Cricket Council (ICC) said on Monday the rating of the pitch used for the third test between India and Australia in Indore has been changed to “below average” from “poor” following an appeal by the Indian board. Australia won the low-scoring encounter by nine wickets inside three days, with match referee …

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Indian skincare firm Mamaearth’s parent puts IPO on hold – sources

By M. Sriram MUMBAI (Reuters) – Indian skincare startup Mamaearth has put its initial public offering (IPO) on hold because of weak market conditions, two people with direct knowledge of the matter said, a month after two other Indian companies also scrapped their share sales. Mamaearth parent Honasa Consumer Ltd filed its documents for an …

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Cricket-Mumbai Indians win inaugural WPL title after Sciver-Brunt fifty

MUMBAI (Reuters) – Mumbai Indians were crowned champions at the inaugural Women’s Premier League (WPL) after Nat Sciver-Brunt’s unbeaten 60 secured their seven-wicket victory against Delhi Capitals in the final at the Wankhede Stadium on Sunday. Delhi captain Meg Lanning elected to bat after winning the toss and the Australia skipper top-scored for her side …

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India’s Paytm wins regulator extension for payment aggregator licence application

(Reuters) – Indian financial technology company Paytm Payments Services Ltd has received an extension from the country’s banking regulator to apply for a payment aggregator licence and aims to reapply in about 15 days, the company said on Sunday. Paytm Payments Services, in the meantime, can continue with the online payment aggregation business for its …

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India finance minister asks state run banks to assess risks

NEW DELHI (Reuters) – India finance minister has asked state-run banks to assess various financial health parameters amid turbulence across the global banking sector. After a meeting with chiefs of state-run banks in New Delhi on Saturday, the finance ministry said in a statement that lenders have been asked to identify stress points, including “concentration …

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