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☆ India's aviation watchdog proposes less work, more rest for pilots - draft
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Francis Mascarenhas Acquire Licensing RightsNEW DELHI, Nov 4 (Reuters) - India's air safety watchdog proposes reduced night work hours and more rest for pilots, among measures to address rising complaints of pilot fatigue, according to draft regulations seen by Reuters on Saturday. The proposal from the Directorate General of Civil Aviation come more than two months after it decided to conduct a review of pilot fatigue data collected during spot checks and surveillance of airlines. The review was launched after an IndiGo (INGL.NS) pilot collapsed and died in August before his flight. Changes would include cutting the maximum flight duty period to 10 hours from 13 hours for pilots operating at night, and increasing the minimum weekly rest period to 48 hours from 36 hours. IndiGo, India's biggest airline, has said the pilot who died had a 27-hour break before duty and was in good health.

Persons: Francis Mascarenhas, Aditi Shah, YP Rajesh, William Mallard Organizations: IndiGo, REUTERS, Reuters, Civil Aviation, Tata, Air, India's, YP, Thomson Locations: Chhatrapati Shivaji International, Mumbai, India, DELHI, Air India

☆ India to extend free food grains programme by five years, says Modi
▼ + stars: | 2023-11-04 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +2 min

REUTERS/Amit Dave/File Photo Acquire Licensing RightsMUMBAI, Nov 4 (Reuters) - India is planning to extend its free food grains programme by five years, Prime Minister Narendra Modi said on Saturday, as the government tries to shield consumers from rising prices of cereals ahead of a general election early next year. The grains programme, estimated to cost the government around 2 trillion rupees ($24.06 billion) this year, was due to expire at the end of the year. India, the world's second-largest producer of wheat and rice, has restricted exports of both cereals to curb rising prices at home. Global rice prices jumped to a 15-year high after India, the world's biggest rice exporter that accounts for more than 40% of global rice exports, curbed exports of non-basmati rice varieties in July. India last year banned wheat exports in a surprise move after a heat wave curtailed output.

Persons: Amit Dave, Narendra Modi, Modi, Rajendra Jadhav, Clelia Organizations: Agriculture, REUTERS, Rights, Thomson Locations: Ahmedabad, India, Rights MUMBAI, New Delhi, Durg, Chhattisgarh, Mumbai, Delhi

☆ Indian economy regains its swagger as China stumbles
▼ + stars: | 2023-11-03 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

New Delhi CNN —India’s economy is like an elephant. India’s economy is currently worth nearly $3.5 trillion, making it the world’s fifth largest. “India’s economy is comfortably placed to grow at an annual rate of at least 6% in the coming few years,” Barclays said. But even as India’s heft is increasing, it is far from recreating the economic miracle China unleashed decades ago. It will, no doubt — though it won’t be enough to shield the world economy should China’s economy stumble badly,” they added.

Persons: Narendra Modi, ”, Eswar Prasad, Modi, Prasad, Ludovic Marin, Mukesh Ambani’s, Gautam Adani’s, Willy Shih, Frederic Neumann, Justin Feng Organizations: New, New Delhi CNN, Economic, Cornell University, International Monetary Fund, China, Barclays, IMF, ” Barclays, Hindustan Times, Modi, bonanza, Unified, Bharat, Getty, Bank, Mukesh Ambani’s Reliance Industries, Apple, Harvard Business School, HSBC Locations: New Delhi, India, Switzerland, Davos, ”, ’, China, ” New Delhi, Sewri, Mumbai Bhushan, AFP, Beijing, Washington

☆ IOC's ban on Russia cannot be compared with Israel situation
▼ + stars: | 2023-11-03 | by ( Karolos Grohmann | ) www.reuters.com time to read: +3 min

International Olympic Committee (IOC) President Thomas Bach gestures while speaking during the second day of the 141st IOC session in Mumbai, India, October 16, 2023. REUTERS/Niharika Kulkarni/File Photo Acquire Licensing RightsBERLIN, Nov 3 (Reuters) - Russia's attempt to compare the country's Olympic Committee suspension with the situation of Israeli athletes following the start of the conflict between Israel and Hamas was out of place, the International Olympic Committee said on Friday. The IOC did not ban the Russian Olympic Committee (ROC) until last month after it recognised regional organisations from four territories annexed from Ukraine. The IOC said on Oct. 12 the ROC would be banned with immediate effect after it recognised Olympic Councils from the regions of Luhansk, Donetsk, Kherson and Zaporizhzhia. "Once again we see an example of the bias and failure of the International Olympic Committee, which time after time proves its political bias."

Persons: Thomas Bach, Niharika Kulkarni, Sergei Lavrov, Lavrov, Karolos Grohmann, Gabrielle Tetrault, Farber, Ed Osmond Organizations: Olympic Committee, 141st IOC, REUTERS, Rights, International Olympic, Russian, IOC, Olympics, Olympic, Winter Games, Russian Olympic Committee, National Olympic Committee of, International Olympic Committee, Paris Olympics, Thomson Locations: Mumbai, India, Israel, Ukraine, Russian, Luhansk, Donetsk, Kherson, Zaporizhzhia, National Olympic Committee of Ukraine, United States, Paris

NEW DELHI, Nov 3 (Reuters) - India's capital New Delhi was wrapped in a thick layer of toxic haze on Friday and some schools were ordered closed as the air quality index (AQI) plummeted to the "severe" category. In India, the annual average concentration of particulate matter 2.5 (PM2.5) in the air is the highest in northern regions. Officials said they saw no immediate improvement in the air quality. Delhi hosts a World Cup match on Monday between Bangladesh and Sri Lanka. Poor air quality also caused respiratory problems, irritation in the eyes and restlessness in pet animals.

Persons: Aheed Khan, Ashwani Kumar, Prabhat Gangwar, Tanvi Mehta, Rajesh, Blassy Boben, Manoj Kumar, Raju Gopalakrishnan, Mark Heinrich Our Organizations: joggers, Residents, Officials, Control Committee, Farmers, Health, Friendicoes, Thomson Locations: DELHI, New Delhi, Swiss, Pakistani, Lahore, Delhi, India, Punjab, Haryana, Uttar Pradesh, Mumbai, Bangladesh, Sri Lanka

☆ Air Pollution in India's New Delhi Turns 'Severe', Some Schools Shut
▼ + stars: | 2023-11-02 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

By Tanvi MehtaNEW DELHI (Reuters) - People in New Delhi woke up to a thick layer of toxic haze on Friday, and some schools were ordered to be shut for two days as the air quality index (AQI) entered the "severe" category in several parts of the Indian capital. "Unfavourable meteorological conditions, sudden increase in the farm fire incidents and north-westerly winds moving the pollutants to Delhi are the major causes for sudden spike in AQI," the region's Commission for Air Quality Management said on Thursday. Authorities ordered primary, or elementary, schools to remain shut on Friday and Saturday, while most construction work in the region has been suspended. This year, attention on the worsening air quality has cast a shadow over the cricket World Cup hosted by India, with financial capital Mumbai also suffering from a spike in the pollution levels. Delhi hosts a World Cup match next on Monday between Bangladesh and Sri Lanka.

Persons: Tanvi Mehta, Lincoln Organizations: Residents, region's Commission, Air Quality Management, . Authorities Locations: DELHI, New Delhi, Delhi, India, Mumbai, Bangladesh, Sri Lanka

☆ Air pollution sparks alarm, dims World Cup cheer in India
▼ + stars: | 2023-11-02 | by ( Blassy Boben | ) www.reuters.com time to read: +2 min

An aerial view shows residential buildings and a stadium shrouded in smog in New Delhi, India, October 27, 2023. Air Quality Index (AQI) stood at 415 on a scale of 500 in the capital's Anand Vihar area on Thursday, indicating "severe" levels of pollution that can affect healthy people and those with existing ailments. The dip in air quality in the region during the winter months is often accompanied by a spike in respiratory illnesses, spurring school and factory closings. The worsening air quality has cast a shadow over the cricket World Cup as fans flock to stadiums across Indian cities. Players have expressed concern about the toxic air, with England's Joe Root complaining of breathing difficulties during a game and India's Rohit Sharma urging change for "future generations".

Persons: Altaf Hussain, Anand, Joe Root, India's Rohit Sharma, Gerry Doyle Organizations: REUTERS, BCCI, Thomson Locations: New Delhi, India, DELHI, Delhi, Anand Vihar, Pakistan's Lahore, Swiss, India's Mumbai, AQI, Mumbai, Sri Lanka

☆ Indian gold demand loses lustre in peak festive season as prices rally
▼ + stars: | 2023-10-31 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +2 min

India is the world's second-largest gold consumer, and a drop in purchases could limit a rally in global prices . Local gold prices jumped this week to 61,396 rupees per 10 grams, near the all-time high of 61,845 rupees hit earlier this year. In the December quarter, demand is expected to be lower than last year's 276.3 metric tons, Somasundaram said. From January to September, gold demand fell by 3.3% to 481.2 metric tons due to sluggish demand in the first half. In 2023, demand could fall to around 700 metric tons, the lowest in three years, down from 774.1 metric tons a year ago, he said.

Persons: Anushree, Somasundaram, Rajendra Jadhav, Miral Organizations: REUTERS, Rights, Gold Council, PR, Thomson Locations: Delhi, India, Rights MUMBAI

☆ Israel, It’s Time to Consider a Cease-fire - The New York Times
▼ + stars: | 2023-10-29 | by ( Thomas L. Friedman | ) www.nytimes.com time to read: +12 min

I am watching the Israel-Hamas war in Gaza today and thinking about one of the world leaders I’ve most admired: Manmohan Singh. The cost of occupying Gaza could overstretch the Israeli military and economy for years to come. Israel should keep the door open for a humanitarian cease-fire and prisoner exchange that will also allow Israel to pause and reflect on exactly where it is going with its rushed Gaza military operation — and the price it could pay over the long haul. Israel built an impressive society and economy, even if flawed, and Hamas took nearly all of its resources and built attack tunnels. Follow The New York Times Opinion section on Facebook, Twitter (@NYTopinion) and Instagram.

Persons: I’ve, Manmohan Singh, Singh, Shivshankar Menon, “, ” Menon, ”, Menon, Israel’s, It’s, Israel —, —, Israel, Benjamin Netanyahu’s, Yoav Gallant, Netanyahu, ’ ’, Gaza —, Shin Bet, excusing, don’t Organizations: Pakistan Army, Abraham Accords, Economist, Hamas, United, West Bank, Shin Bet, European Union, Democratic Party, U.S . House, Bank, Gaza, New York, Facebook, Twitter Locations: Israel, Gaza, Pakistani, India, Mumbai, Pakistan, Abraham, United States, Mexico, European, U.S, Washington

☆ From boardrooms to playgrounds, women should be treated as equals, says India's Nita Ambani
▼ + stars: | 2023-10-27 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

Nita Ambani, founder and chairperson of the Reliance Foundation, and her husband Indian billionaire businessman Mukesh Ambani at the opening of the Nita Mukesh Ambani Cultural Centre in Mumbai, India, 31 March, 2023. A philanthropist, a champion for women's rights, and the founder of one of India's largest foundations. Nita Ambani is a woman who wears many hats – but the accolades don't stop there. Dubbed the "first lady of Indian business," she's also the wife of Mukesh Ambani — Asia's wealthiest man. Ambani is best known for her role as chairperson of Reliance Foundation, a philanthropic organization owned by India's richest company, Reliance Industries.

Persons: Nita Ambani, Mukesh Ambani, Nita Mukesh Ambani, she's, Mukesh Ambani —, Ambani, CNBC's Tanvir Gill Organizations: Reliance Foundation, India's, Reliance Industries, CNBC Locations: Mumbai, India

☆ Indian Muslims Flunk the Israel Test
▼ + stars: | 2023-10-26 | by ( Sadanand Dhume | ) www.wsj.com time to read: +1 min

But the fact it kicked in mere hours after Hamas’s civilian slaughter on Oct. 7—the assertion that somehow Israel drove Hamas to do it—deserves examination. Images: Zuma Press/AFP/Getty Images Composite: Mark KellyThe Hamas attacks in Israel this month presented the world with a stark test of moral clarity that the leaders of India’s 200 million Muslims appear intent on flunking. Their refusal to condemn the terrorist group’s savagery, or in some cases even to acknowledge it, is exceedingly foolish. It will fan fears of Islamic extremism among India’s Hindu majority and drive away the centrist allies Indian Muslims need to safeguard their rights. Indian Muslim political and intellectual elites have adopted a fanatically one-sided approach to Gaza that has fueled pro-Palestinian protests in Delhi, Pune, Mumbai, Bangalore, Aligarh and Hyderabad, among other Indian cities.

Persons: Israel, Mark Kelly, Tavleen Singh, “, ” Organizations: Zuma Press, Getty, Hamas Locations: Israel, Gaza, Delhi, Pune, Mumbai, Bangalore, Aligarh, Hyderabad, India

Savings accounts are low interest rate-bearing deposits offered by Indian banks, forming a third of their total deposits. Public sector banks offer interest rates between 2.70% to 4% on savings deposits, while large private banks offer rates between 3% to 4.50%. Savings deposits rate of banks vs RBI's repo rateThe RBI has been nudging banks at meetings to raise savings deposit rates and may need to push them again if required, the same source said. The RBI said in its monetary policy report that while the increase in term deposit rates in the current tightening cycle has exceeded that in lending rates, savings deposit rates have remained almost unchanged. Yes Bank (YESB.NS), Kotak Mahindra Bank (KTKM.NS) and IndusInd Bank (INBK.NS) are among lenders that have recently said they have no plans to raise savings deposit rates.

Persons: Anushree, Siddhi Nayak, Swati Bhat, Nivedita Organizations: Reserve Bank of India, REUTERS, Rights, Savings, Reuters, Yes Bank, Kotak Mahindra Bank, IndusInd Bank, Siddhi, Thomson Locations: New Delhi, India, Rights MUMBAI

☆ Rupee rises on oil pullback; dollar liquidity remains inadequate
▼ + stars: | 2023-10-25 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India, August 13, 2018. REUTERS/Francis Mascarenhas/File photo Acquire Licensing RightsMUMBAI, Oct 25 (Reuters) - The Indian rupee rose marginally on Wednesday, helped by retreating oil prices and U.S Treasury yields, while the dollar/rupee cash swap rate indicated that dollar liquidity was less than sufficient. The rupee was at 83.1500 to the U.S. dollar at 11:53 a.m. IST, up from its previous close of 83.1925 but slightly below its open at 83.0650. Meanwhile, USD/INR swap rate for today over tomorrow was at 0.15 paisa following the expiry of the Reserve Bank of India's $5 billion swap on Monday. At 0.15 paisa, the imputed rupee lending rate for raising dollars is 6%, which is 80 basis points below the rupee call rate.

Persons: Francis Mascarenhas, Brent, Morgan Stanley, Nimesh Vora, Varun Organizations: REUTERS, Rights, Treasury, U.S, Reserve Bank, India's, Thomson Locations: Mumbai, India, Rights MUMBAI, Asia, U.S

☆ Metals lead rise in Indian shares amid global rebound
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: 1 min

The new logo of the Bombay Stock Exchange (BSE) building is seen in Mumbai, India, July 12, 2023. REUTERS/Francis Mascarenhas/File photo Acquire Licensing RightsBENGALURU, Oct 25 (Reuters) - Metals led Indian shares higher amid a rebound in global stocks, as U.S. Treasury yields eased and crude oil prices moderated below $90 per barrel. The NSE Nifty 50 index (.NSEI) was up 0.25% at 19,329.35 as of 9:16 a.m. IST, and the S&P BSE Sensex (.BSESN) rose 0.28% to 65,744.08. Reporting by Bharath Rajeswaran in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Bharath Rajeswaran, Eileen Soreng Organizations: Bombay Stock Exchange, REUTERS, Rights, Metals, Treasury, NSE, BSE, Thomson Locations: Mumbai, India, Bengaluru

☆ India's Axis Bank Q2 profit beats view on robust loan growth
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Oct 25 (Reuters) - India's Axis Bank (AXBK.NS) reported a bigger-than-expected rise in second-quarter profit on Wednesday, helped by strong growth in loans. Loan demand stayed strong as an uptick in consumer spending helped drive retail credit. The bank is seeing strong demand for loans from corporate clients, including for capital spending, it said. Net interest income - the difference between interest earned and interest expended - rose 19% year-over-year to 123.15 billion rupees. The country's top lender HDFC Bank (HDBK.NS) reported a drop in margins earlier this month, while IndusInd Bank (INBK.NS), ICICI Bank (ICBK.NS), and Kotak Mahindra Bank (KTKM.NS) reported second-quarter profit gains.

Persons: Amitabh Chaudhry, Chaudhry, Varun, Mrigank Organizations: Bank, HDFC Bank, IndusInd Bank, ICICI Bank, Kotak Mahindra Bank, Sethuraman, Varun Vyas, Thomson Locations: BENGALURU, Mumbai, Bengaluru

☆ China's massive navy is only getting bigger, and the US is looking overseas for help keeping its warships in action
▼ + stars: | 2023-10-24 | by ( Christopher Woody | ) www.businessinsider.com time to read: +8 min

For years, the US Navy has struggled to complete repairs of its ships on time. To reduce workload at domestic shipyards and keep ships at sea, the US is looking for help overseas. That number has improved, but delays persist amid other challenges at Navy shipyards. Salvor was the first ship repaired in India following the signing of a Master Ship Repair Agreement with L&T Shipyard. "It's all hands on deck within the free world right now, and I think something like that would simultaneously enhance our ability to repair ships more quickly and also be a deterrent in the Pacific."

Persons: —, MCS3 Brandon Roberson, Biden, USNS Charles Drew, USNS Matthew Perry, Salvor, Fitzgerald, Leonard Adams, Carlos Del Toro, Charles Drew, Del Toro, Joel Garcia Japan, Rahm Emanuel, Emanuel, Harry Harris Jr, Harris, Paul, Wendy Hallmark, Rob Wittman, Wittman, Mike Gallagher, Gallagher Organizations: US Navy, Service, Pentagon, Navy, MCS3 Brandon Roberson Public, Maritime Sealift Command, USNS, Larsen & Toubro Shipyard, USNS Salvor, T Shipyard, Military Sealift Command, Mazgaon, Goa Shipyard, Getty, US, White, National Press, Nikkei Asia, US Military Sealift Command, Pacific Command, USS, Puget Sound Naval Shipyard, Republican, House Armed Services Committee, Capitol, Strategic Competition Locations: Western, Washington, China, Norfolk, India, Chennai, Shipbuilders, Mumbai, Goa, Japan, Asia, Philippines, Singapore, South Korea, extremis, USS Minneapolis, St, United States

☆ De Kock's 174 propels South Africa to 382-5 v Bangladesh
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, Oct 24 (Reuters) - South Africa opener Quinton de Kock smashed 174, the highest individual score at this year's World Cup, to propel his team to an imposing 382-5 against Bangladesh on Tuesday. Aiden Markram, leading South Africa in the absence of the unwell Temba Bavuma, made 60 after winning the toss and electing to bat at the Wankhede Stadium. Heinrich Klaasen provided the late surge with an explosive 90 off 49 balls to leave Bangladesh with a mountain to climb when they begin their chase. De Kock, Klaasen and David Miller, who made 34 not out, smashed a combined 19 sixes in the match. South Africa sit third, behind India and New Zealand, in the points table with the top four at the end of the group stage making the semi-finals.

Persons: Quinton de Kock, India's Virat Kohli, Aiden Markram, Temba Bavuma, Heinrich Klaasen, De, David Miller, Amlan Chakraborty, Ken Ferris Organizations: Bangladesh, Thomson Locations: MUMBAI, South Africa, Bangladesh, De Kock, Klaasen, India, New Zealand, New Delhi

☆ Rupee may drop on weak risk, eyes fallout of RBI's swap maturity
▼ + stars: | 2023-10-23 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India, August 13, 2018. Non-deliverable forwards (NDFs) indicate the rupee will open at around 83.16-83.18 to the U.S. dollar, compared with 83.1225 in the previous session. The rupee on Friday managed a small relief rally on aggressive intervention by the RBI in NDFs and spot. Its looks like the intervention "will not prove too sticky" and the rupee "will be back under pressure", a forex trader at a bank said. The RBI's swap maturity has promoted concerns about a dollar crunch and the central bank, like last week, may once again be a provider of dollars, according to traders.

Persons: Francis Mascarenhas, Nimesh Vora, Sonia Cheema Organizations: REUTERS, Rights, Reserve Bank, India's, U.S ., Federal Reserve, Fed, ANZ, Brent, Thomson Locations: Mumbai, India, Rights MUMBAI, NDFs

☆ Carse to replace injured Topley as England aim for World Cup turnaround
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

England's Brydon Carse in action in September 2023. Action Images via Reuters/Jason Cairnduff/File Photo Acquire Licensing RightsOct 23 (Reuters) - Pacer Brydon Carse will replace injured Reece Topley in England's World Cup squad, the ICC announced on Monday. England coach Matthew Mott said they still stood a chance to make a comeback. The England players were down in confidence after the losses but needed support from the management, Mott added. You don’t lose that, but you can lose your confidence,” he said.

Persons: England's Brydon Carse, Jason Cairnduff, Brydon, Reece Topley, Topley, Matthew Mott, we’re, Mott, ”, Chiranjit, Muralikumar Organizations: ICC, Ireland, England, Sri, Thomson Locations: South Africa, Mumbai, Bengaluru, Sri Lanka

☆ South Africa motivated by poor ODI record against Bangladesh, says Markram
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +3 min

Oct 23 (Reuters) - South Africa are motivated by the desire to prove themselves against Bangladesh, Aiden Markram said on Monday as he called on the team to build on their massive 229-run World Cup victory over England. Bangladesh have won three of their last four one-day international meetings with South Africa, including a 38-run win at the 2019 World Cup. South Africa are third in the World Cup standings with three wins from four games. While South Africa will go into the game off the back of a sensational win over England, Bangladesh lost their last match by seven wickets against India. "We saw South Africa flying high, we saw they lost against the Netherlands as well.

Persons: Aiden Markram, Markram, we've, Heinrich Klaasen, he's, Shakib Al Hasan, Shakib, Taskin Ahmed, Aadi Nair, Christain Organizations: England, India, Thomson Locations: South Africa, Bangladesh, England, Mumbai, Africa, Netherlands, India, Bengaluru

MUMBAI, Oct 21 (Reuters) - India's central bank has approved the appointment of veteran banker Ashok Vaswani as managing director and chief executive of Kotak Mahindra Bank (KTKM.NS), the private lender said in an exchange filing on Saturday. Vaswani's appointment comes after billionaire Uday Kotak, who founded Kotak Mahindra Bank, resigned as the MD and CEO last month in a surprise move, citing personal reasons. Dipak Gupta, currently the managing director and CEO, will carry out the chief executive duties until Dec. 31, the bank had said last month. "I am delighted that the RBI has approved our recommendation, Ashok Vaswani, as the next CEO of Kotak Mahindra Bank," Kotak said in the filing, describing him as a "world class leader" with digital and customer focus. KVS Manian and Shanti Ekambaram, the two most senior bankers at Kotak Mahindra Bank, will remain on the board and keep their current roles, Gupta added.

Persons: Ashok Vaswani, Vaswani, Vaswani's, Uday Kotak, Dipak Gupta, Kotak, Gupta, KVS Manian, Shanti Ekambaram, Siddhi Nayak, Ira Dugal, William Mallard Organizations: Kotak Mahindra Bank, Citigroup Asia Pacific, Barclays, Reserve Bank of India, Kotak, Siddhi, Thomson Locations: MUMBAI

☆ Top private Indian banks report strong Q2 profit rise as loan growth continues
▼ + stars: | 2023-10-21 | by ( Siddhi Nayak | ) www.reuters.com time to read: +2 min

The bank's net interest income - the difference between interest earned and paid - rose nearly 24% to 183.08 billion rupees, while asset quality also improved. Kotak Mahindra Bank (KTKM.NS), the fourth largest Indian bank by market capitalisation, reported a 21% rise in loans for the second quarter, which contributed to a 24% increase in standalone net profit. Indian banks have consistently clocked double-digit loan growth over the past few months due to rising demand for credit, amid increased consumer spending. However, the banking regulator has been concerned about a sharp rise in unsecured loans - mostly personal loans and credit cards. "Although concerns (in the unsecured book) remain, they are not currently significant," said the bank's MD Prashant Kumar.

Persons: Dipak Gupta, Prashant Kumar, Siddhi Nayak, Clelia Oziel, Tomasz Janowski Organizations: ICICI Bank, Kotak Mahindra Bank, Yes Bank, Siddhi, Thomson Locations: MUMBAI

☆ India completes crucial test in crewed space mission after delay
▼ + stars: | 2023-10-21 | by ( ) www.reuters.com time to read: +1 min

A security guard stands behind the logo of Indian Space Research Organisation (ISRO) at its headquarters in Bengaluru, India, June 12, 2019. REUTERS/Francis Mascarenhas Acquire Licensing RightsMUMBAI, Oct 21 (Reuters) - India on Saturday completed a key test in its ambitious crewed space mission Gaganyaan, hours after halting the planned lift-off, the Indian Space Research Organisation (ISRO) said. Mission Gaganyaan gets off on a successful note." ISRO has said it would explore ways to achieve a sustained human presence in space once Gaganyaan is completed. The Gaganyaan mission has been expected to launch from the country's main spaceport in Sriharikota before 2024, although a schedule had not been announced.

Persons: Francis Mascarenhas, Gaganyaan, Siddhi Nayak, Lincoln, William Mallard Organizations: Indian Space Research Organisation, ISRO, REUTERS, Rights, Siddhi, Thomson Locations: Bengaluru, India, Rights MUMBAI, Sriharikota

☆ Canada pulls 41 diplomats from India as bilateral tensions escalate over Sikh killing
▼ + stars: | 2023-10-20 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Heavy security deployed at High Commission of Canada on September 19, 2023 in New Delhi, India. Canada has pulled 41 diplomats and their families from India, after New Delhi threatened to have their diplomatic immunities revoked if Ottawa did not comply with demands for parity in diplomatic staffing. The move effectively slashed Canada's diplomatic numbers in India — its largest source of new migrants — by about two-thirds. India's Ministry for External Affairs did not immediately respond to a CNBC request for comment after office hours. Tensions between the two countries escalated in September when Canadian Prime Minister Justin Trudeau's claimed there were "credible allegations" the Indian government orchestrated the extra-judicial slaying of a Sikh separatist in Canada.

Persons: Justin Trudeau's Organizations: High Commission, Canada, Ottawa, Canadian Foreign Ministry, India's, Affairs, CNBC, Canadian Locations: New Delhi, India, Canada, India —, Bengaluru, Chandigarh, Mumbai

[1/3] Yemenis gather during a pro-Palestinian protest to express solidarity with Palestinians in Gaza, in Sanaa, Yemen, October 20, 2023. Some demanded military action against Israel, others said Arab states should consider using other methods to stop the bombardment of Gaza. Egypt borders Gaza but has not been able to negotiate an opening of its crossing to allow in aid. Hundreds of people marched in central Tunis, a smaller protest than ones that have rallied there against Israel's Gaza campaign in recent days. On Iraq's border with Jordan, hundreds of supporters of Iran-backed paramilitary groups staged a sit-in to voice support for Gaza, brought in by bus.

Persons: Benjamin Netanyahu, Mohammed Gomaa, Souhail Ben Nasser, Netanyahu, Joe Biden, Marisa, Hussein Samir, Suleiman al, Nafisa Eltahir, Amina Ismail, Tarek Amara, Ali Kucukgocmen, Ahmed Eljechtimi, Angus McDowall, Daniel Wallis Organizations: Houthi Media, REUTERS, Israel, Gaza, U.S ., Indonesian, U.S, Iran, Bulent Usta, Thomson Locations: Gaza, Sanaa, Yemen, Jordan, Egypt, Turkey, Indonesia, Malaysia, India, AMMAN, CAIRO, Jakarta, Tunis, Israel, Palestinian, Beyazit, Palestine, Cairo, Morocco, Western Sahara, America, Asia, U.S, Kuala Lumpur, Jaipur, Mumbai, Iraq, Tehran, Baghdad, Iran, Khalidi, Amman, Nafisa, Istanbul, Rabat

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