NEW DELHI The Reserve Bank of India (RBI) has stepped up fund injections in the two months since Governor Raghuram Rajan pledged to gradually erase a cash deficit in the financial system, but commercial banks say it is still not enough for them to sharply lower interest rates.
Recent Business News
SINGAPORE Indian flour mills have signed deals to import about 500,000 tonnes of Australian and French wheat this year for shipment between July and September as drought reduces domestic supplies, two trade sources said on Wednesday.
WASHINGTON U.S. senators questioned on Tuesday whether India's development of a port in southern Iran for trade access risked violating international sanctions, and a State Department official assured them the administration would closely examine the project.
By Jan Strupczewski, Francesco Guarascio and Alastair Macdonald
BOXING, China/BEIJING For Zheng Ruifeng, the 25-year-old son of a wheat farmer from eastern China, acceptance at a technical school specialising in petrochemical engineering was a life-changing event.
Hewlett Packard Enterprise Co said it would spin off and merge its struggling IT services business with Computer Sciences Corp , allowing the company to focus on its cloud services business and other fast-growing units.