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    TPG, Blackstone bid for Jet Airways` stake in loyalty programme: Media

    NEW DELHI - Private equity firms TPG Capital and Blackstone Group have submitted bids to buy beleaguered Indian carrier Jet Airways' stake in its frequent flyer loyalty programme, television channel CNBC TV18 reported on Monday, citing sources. The airline, partly owned by Etihad Airways, has been facing financial difficulties and said last month it would inject funds...

    • 2 hrs ago
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    Dena Bank approves merger with Bank of Baroda, Vijaya Bank

    India's Dena Bank said on Monday its board of directors approved the government's proposed merger of the state-run lender with peers Bank of Baroda Ltd and Vijaya Bank. India announced the plan to merge the banks last week as part of efforts to tackle a pile of bad loans plaguing the sector and revive credit growth. (Reporting by Sharnya G in Bengaluru; Editing by Subhranshu...

    • 2 hrs ago
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    Government may opt to control retail fuel prices to cushion inflationary shocks: S&P

    With petrol and diesel prices scaling record highs, S&P Global Ratings Monday said the government may opt to control retail fuel prices to cushion inflationary shocks. India imports almost 80 per cent of its crude oil requirements. Rising crude prices and the recent 10 per cent slide in the rupee has translated into higher fuel prices for consumers. This...

    • 3 hrs ago
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    Exclusive: Indian Oil chairman says refiners are considering using crude inventories to cut imports

    NEW DELHI - Indian refiners are considering using their oil inventories to cut import costs as global oil prices have risen to about $80 a barrel and the Indian rupee has plunged, said the chairman of the nation's top oil refiner, Indian Oil Corp. Sanjiv Singh, who was present at a Sept. 15 meeting of Indian oil refiners where the inventory...

    • 4 hrs ago
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    Will ensure liquidity of NBFCs, MFs, SMEs: Arun Jaitley

    The government will take all measures to ensure adequate liquidity for non-banking financial companies (NBFCs) and mutual funds, Finance Minister Arun Jaitley said on Monday in the wake of the uncertainty created by the ongoing debt crisis in the IL&FS group. Jaitley's assurance comes after the shares of housing finance companies came under sudden heavy selling pressure on Friday...

    • 4 hrs ago
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    India reassures equity investors as liquidity fears grow

    MUMBAI - Finance Minister Arun Jaitley said on Monday the government is ready to ensure credit is available to non-banking financial companies (NBFCs), just a day after the market regulator and the central bank sought to calm skittish investors. Jaitley's assurances followed panic selling in the equity market on Friday that pushed the benchmark Nifty more than three percent lower in...

    • 4 hrs ago
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    India says will not scrap Rafale deal; opposition demands inquiry

    NEW DELHI - India has vowed to stand firm on a multi-billion dollar deal to buy warplanes from France's Dassault Aviation, as the opposition Congress party called on Monday for an inquiry into allegations of wrongdoing. Former French President Francois Hollande, who approved the deal when he was in office, triggered a political storm in India after he said the Indian...

    • 4 hrs ago
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    Nifty sees worst day in six months as financials continue slide

    Indian shares fell more than 1 percent and ended lower for a fifth straight session on Monday, dragged by financials such as Indiabulls Housing Finance Ltd and Housing Development Finance Corp Ltd as investors continued to trim exposure to non-banking financial companies. Indiabulls Housing Finance extended losses to a second session, closing 7.3 percent lower. The benchmark indexes...

    • 4 hrs ago
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    Monsoon rainfall drops further, endangering summer crops

    MUMBAI - India's monsoon has produced 9 percent less rain than usual, raising concerns over production of the country's summer-sown crops as rainfall in many key grains producing states has been nearly a quarter lower than normal levels. Summer crop production is being closely watched by markets as lower output could spoil Indian Prime Minister Narendra Modi's efforts to...

    • 4 hrs ago
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    Exclusive: As oil forecasts call for $100, India considers cutting back crude imports

    NEW DELHI - With oil traders forecasting crude oil to rise to $100 a barrel by the end of the year, Indian refiners are considering cutting back their imports and relying more on cheaper crude already stored in inventories, according to industry executives. Benchmark Brent crude oil futures surged 2 percent on Monday to over $80 a barrel as markets have...

    • 4 hrs ago

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