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Oct 22, 2014

Fears for tough penalties grow as India cleans up business

MUMBAI, Oct 22 (Reuters) – An unprecedented ban on India’s
largest property developer from tapping capital markets has
fuelled expectations of tougher penalties ahead, as the
country’s regulators feel emboldened to take on even companies
long sheltered by political connections.

The result has been a slide over the past week in shares of
firms known to be under investigation – adding to what was
already a year-long weakness in the stocks of companies seen as
tied to the Congress party, which was ousted from power in May.

Oct 15, 2014

State elections could unlock Modi reform push

MUMBAI (Reuters) – Voters from Maharashtra and Haryana headed to the polls on Wednesday for the first major elections since Prime Minister Narendra Modi stormed to power five months ago, in a test of support that could unlock a round of delayed economic reform.

Opinion polls showed Modi’s Bharatiya Janata Party (BJP) was likely to win in both states, unseating unpopular incumbents, but fall short of a majority in each.

Oct 15, 2014

India state elections could unlock Modi reform push

MUMBAI (Reuters) – Indian voters from two states headed to the polls on Wednesday for the first major elections since Prime Minister Narendra Modi stormed to power five months ago, in a test of support that could unlock a round of delayed economic reform.

Opinion polls showed Modi’s Bharatiya Janata Party (BJP) was likely to win in Haryana and Maharashtra, unseating unpopular incumbents, but fall short of a majority in each.

Oct 12, 2014

Modi seeks state election wins to support reform agenda

MUMBAI (Reuters) – Prime Minister Narendra Modi spearheaded his party’s campaign for elections later this week in Maharashtra state, knowing that victory in the home of financial hub Mumbai will make it easier to push through economic reforms.

The state of Haryana also votes on Wednesday. But it is Maharashtra that will provide the best test of how well Modi’s appeal is holding up, five months after he stormed to power in a general election with promises to mend a country battered by corruption scandals, high inflation, and sharply slowing growth.

Oct 12, 2014

India’s Modi seeks state election wins to support reform agenda

MUMBAI (Reuters) – Prime Minister Narendra Modi spearheaded his party’s campaign for elections later this week in Maharashtra state, knowing that victory in the home of India’s financial hub Mumbai will make it easier to push through economic reforms.

The smaller northern state of Haryana also votes on Wednesday. But it is the western state of Maharashtra that will provide the best test of how well Modi’s appeal is holding up, five months after he stormed to power in a general election with promises to mend a country battered by corruption scandals, high inflation, and sharply slowing growth.

Sep 30, 2014

RBI keeps rates on hold, warns on inflation

MUMBAI (Reuters) – The Reserve Bank of India (RBI) sent a strong signal on Tuesday that it will refrain from cutting interest rates until it is confident that consumer inflation can be reduced to a target of 6 percent by January 2016.

The RBI policy review statement reinforced Governor Raghuram Rajan’s commitment to tame inflation in a country that has long struggled with prices rising at double digit levels annually, causing most distress for the country’s poor.

Sep 30, 2014

India rates kept on hold, central bank warns on inflation

MUMBAI, Sept 30 (Reuters) – The Reserve Bank of India sent a
strong signal on Tuesday that it will refrain from cutting
interest rates until it is confident that consumer inflation can
be reduced to a target of 6 percent by January 2016.

The Reserve Bank of India policy review statement reinforced
Governor Raghuram Rajan’s commitment to tame inflation in a
country that has long struggled with prices rising at double
digit levels annually, causing most distress for the country’s
poor.

Sep 29, 2014

RBI expected to sound neutral, hold rates steady

MUMBAI (Reuters) – The Reserve Bank of India is widely expected to keep interest rates on hold on Tuesday as Governor Raghuram Rajan pursues his quest to conquer inflation, encouraged by signs that upward pressures on consumer prices have begun to wane.

Investors in India’s bonds are happy with the priority Rajan gave to breaking the “back of inflation” in a speech last week. While investors in the booming stock market have been so filled with hope by the election of Prime Minister Narendra Modi last May, that they are undeterred by the high interest rates.

Sep 29, 2014

India central bank expected to sound neutral, hold rates steady

MUMBAI, Sept 30 (Reuters) – The Reserve Bank of India is
widely expected to keep interest rates on hold on Tuesday as
Governor Raghuram Rajan pursues his quest to conquer inflation,
encouraged by signs that upward pressures on consumer prices
have begun to wane.

Investors in India’s bonds are happy with the priority Rajan
gave to breaking the “back of inflation” in a speech last week.
While investors in the booming stock market have
been so filled with hope by the election of Prime Minister
Narendra Modi last May, that they are undeterred by the high
interest rates.

Sep 26, 2014

India regains ‘stable’ outlook from S&P on Modi reform agenda

MUMBAI, Sept 26 (Reuters) – India regained its “stable”
rating from Standard and Poor’s on Friday, more than two years
after an embarrassing downgrade, in a validation of Prime
Minister Narendra Modi’s ambitious agenda of economic and fiscal
reforms.

S&P had cut India’s “BBB-minus” rating to “negative” in
April 2012, leaving it on the verge of a “junk” rating. That
came to symbolize plummeting investor confidence because of
corruption cases and a perception of the political paralysis of
the then Congress-led government.

    • About Rafael

      "Rafael Nam is the Chief Markets Correspondent for India, overseeing markets and chat room coverage across stocks, debt and fixed income. He has recently started tweeting at @rafaelnam"
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