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Upside for Indian rupee seen limited despite multiple positives

India’s rupee has the backing of a healthier trade account, steady foreign investment inflows and a return in global risk appetite, but its gains are being limited by a central bank keen to prevent wild swings and build dollar reserves.The Reserve Bank of India’s...

Amazon India’s unit gets $308 million in fresh funds from parent

The company’s Indian arm in May said it would hire 50,000 temporary workers to meet a surge in online shopping in the country. Amazon.com Inc, which competes with Walmart Inc’s Flipkart in India, has also been expanding its seller network in the country. (Photo:...

The bank also said that the reduction in three-month MCLR is in line with its External Benchmark-based Lending Rate.

The public lender said it is reducing Marginal Cost-based Lending Rate (MCLR) by 5-10 basis points to 6.65 per cent for short-term loans from July 10.  SBI said that the reduction in three-month MCLR is in line with its External Benchmark-based Lending Rate. (Photo:...

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