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MUMBAI, Nov 29 (AFP): India's economy contracted 7.5 percent between July and September, putting it among the worst-performing major advanced and emerging economies as it entered a technical recession for the first time since independence, official data has showed.
NEW DELHI: India’s most ambitious step to get a tighter grip on rupee trading, which has been shifting to markets like London and Singapore, is being put to the test as the nation’s banks start trading the currency in offshore markets.
India quarterly growth worst in two decades as lockdown bites - Covid-19 cases surpass 170,000, death toll at 4,971
NEW DELHI: The total number of Covid-19 (coronavirus) cases in India surpassed 170,000-mark, reaching 173,763 on Saturday (May 30) and the death toll stood at 4,971, said the data issued by the federal health ministry.
JOHANNESBURG (Reuters) - Corruption under South Africa's former president Jacob Zuma was enabled by international banks, companies and governments which should now seek to recover the loot they helped to launder, British lawmaker Peter Hain told an inquiry on Monday.
MUMBAI: Nearly 300,000 employees of Indian state-run banks went on strike on Tuesday against government plans to consolidate the sector through mergers as part of efforts to ensure stronger balance sheets.
SINGAPORE: Equity analysts predict that India’s move to merge several of its state banks will slow their loan growth, and many brokers advise buying shares of the lenders’ rivals who stand to benefit from the uncertainty.
MUMBAI: India’s biggest bank overhaul in decades may hurt the nation’s bad loan clean-up and slow the lending approvals needed to reverse its economic slump.
MUMBAI: Just as India’s banks emerge from under a pile of bad loans to large energy, steel and other industrial companies, they are facing a new reckoning from the accelerating crisis in the country’s shadow banking sector.
PETALING JAYA: Five parties have bid to separately purchase assets of mobile service provider Aircel Ltd, which filed for bankruptcy earlier this year, according to reports.
NEW DELHI: India is considering merging three state-run lenders as it seeks to strengthen the debt-laden banking system in Asia’s third-largest economy.