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May 30, 2014

RBI’s “007″ Rajan faces pro-growth boss in Modi

MUMBAI (Reuters) – Hailed as a troubleshooting “James Bond” of central bankers amid India’s currency crisis last year, Raghuram Rajan was given a licence to kill inflation with higher interest rates and drive a programme of monetary policy reforms.

Now, the governor of the Reserve Bank of India (RBI) may need all the suave charm of the fictional British spy to sell that same hard-nosed agenda to a powerful new prime minister who is determined to revive economic growth and create jobs.

May 30, 2014

India’s ’007′ central bank governor faces pro-growth boss in Modi

MUMBAI (Reuters) – Hailed as a troubleshooting “James Bond” of central bankers amid India’s currency crisis last year, Raghuram Rajan was given a license to kill inflation with higher interest rates and drive a program of monetary policy reforms.

Now, the governor of the Reserve Bank of India (RBI) may need all the suave charm of the fictional British spy to sell that same hard-nosed agenda to a powerful new prime minister who is determined to revive economic growth and create jobs.

May 16, 2014

Shares of state-run countries rally on reform hopes; some urge caution

MUMBAI (Reuters) – Shares in unloved state firms are soaring on hopes Narendra Modi, the country’s next prime minister, will push reforms to inject efficiency into underperforming giants like Coal India (COAL.NS: Quote, Profile, Research).

Industries including banking, oil marketing and coal are dominated by state firms, a legacy of the country’s socialist past. They tend to trade at deep discounts to private sector rivals, but propelled by hopes for reform and an improving economy, the index of state companies is up 37 percent since the start of March, outperforming the 14.2 percent gain in the BSE Sensex. (link.reuters.com/wyg49v)

May 16, 2014

Indian state shares rally on reform hopes; some urge caution

MUMBAI, May 16 (Reuters) – Shares in India’s unloved state
firms are soaring on hopes Narendra Modi, the country’s next
prime minister, will push reforms to inject efficiency into
underperforming giants like Coal India.

Industries including banking, oil marketing and coal are
dominated by state firms, a legacy of the country’s socialist
past. They tend to trade at deep discounts to private sector
rivals, but propelled by hopes for reform and an improving
economy, the index of state companies is up 37 percent
since the start of March, outperforming the 14.2 percent gain in
the broader Sensex. (link.reuters.com/wyg49v)

Apr 10, 2014

India tycoon prospers as Modi stresses development

AHMEDABAD, India (Reuters) – The way billionaire Indian infrastructure-builder Gautam Adani sees it, working with the government does not make him a crony-capitalist.

Adani’s rapid ascent to the top tier of Indian business is often associated with the rise of Narendra Modi, the Hindu nationalist opposition leader widely expected to become India’s next prime minister once the country’s election ends next month.

Apr 10, 2014

Billionaire Adani prospers as Modi stresses development

AHMEDABAD, India (Reuters) – The way billionaire infrastructure-builder Gautam Adani sees it, working with the government does not make him a crony-capitalist.

Adani’s rapid ascent to the top tier of Indian business is often associated with the rise of Narendra Modi, the Hindu nationalist opposition leader widely expected to become India’s next prime minister once the country’s election ends next month.

Apr 1, 2014

India central bank leaves rates on hold, as expected

MUMBAI (Reuters) – The Reserve Bank of India left its policy interest rate unchanged on Tuesday, as expected, and said it does not expect further near-term policy tightening if headline inflation continues to ease towards the bank’s targeted level.

The RBI kept its key repo rate at 8.00 percent, in line with the forecast of all 53 economists in a Reuters poll last week.

Apr 1, 2014

RBI leaves repo rate on hold at 8 percent, as expected

MUMBAI (Reuters) – The Reserve Bank of India (RBI) left its policy interest rate unchanged on Tuesday, as expected, and said it does not expect further near-term policy tightening if headline inflation continues to ease towards the bank’s targeted level.

The RBI kept its key repo rate at 8.00 percent, in line with the forecast of all 53 economists in a Reuters poll last week.

Mar 4, 2014

Sahara chief Subrata Roy faces Supreme Court

MUMBAI/NEW DELHI (Reuters) – Subrata Roy, the self-styled managing worker of Sahara India Pariwar, India’s biggest private-sector employer, will appear before the Supreme Court on Tuesday after spending the weekend in custody at a government nature-reserve guest house.

Roy was arrested on Friday after failing to appear at a Supreme Court hearing – which he says he missed to attend to his ailing mother – related to a multi-billion-dollar Sahara investment scheme that was later ruled to be illegal.

Mar 4, 2014

India’s Sahara chief, after arrest, faces highest court

MUMBAI/NEW DELHI (Reuters) – Subrata Roy, the self-styled managing worker of Sahara India Pariwar, India’s biggest private-sector employer, will appear before the Supreme Court on Tuesday after spending the weekend in custody at a government nature-reserve guest house.

Roy was arrested on Friday after failing to appear at a Supreme Court hearing – which he says he missed to attend to his ailing mother – related to a multi-billion-dollar Sahara investment scheme that was later ruled to be illegal.