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Slower-than-expected growth boosts rate cut calls


NEW DELHI - Indian growth slowed by more than expected in the quarter to June, a setback for Prime Minister Narendra Modi that will prompt more urgent calls from his aides for interest rate cuts.

Top News, Business, Economy 8:56pm IST

Expert views - Economic growth slows to 7 percent in April-June


MUMBAI - India's economic growth slowed to a lower-than-expected 7 percent in the three months through June from 7.5 percent in the previous quarter, government data showed on Monday.

Top News, Business, Economy 6:07pm IST

India plans to amend RBI Act by Feb to set up monetary panel - official


NEW DELHI - The government plans to change the Reserve Bank of India Act before the end of the fiscal year so it can set up a new committee to direct the country's monetary policy, retiring Finance Secretary Rajiv Mehrishi told Reuters.

Top News, Business, Economy 10:24pm IST

July infrastructure output growth slows to three-month low of 1.1 percent


NEW DELHI - India's annual infrastructure output growth slowed to a three-month low of 1.1 percent in July, dragged down by a contraction in steel production and a slowdown in output of coal and refinery products, government data showed on Monday.

Top News, Business, Economy 5:21pm IST

RBI names SBI, ICICI two banks "too big to fail"


MUMBAI - Reserve Bank of India (RBI) named State Bank of India and ICICI Bank on Monday as "systemically important", lining the lenders up for tougher supervision to avoid collapses that could rattle the financial system and economy.

Business, Top News 8:23pm IST

India seeks SoftBank push for Modi's solar goal


NEW DELHI - India has closed bids for a third of its target of tendering 15,000 megawatts (MW) of solar projects this fiscal year, a government official said, and is expecting interest from investors such as SoftBank to lift the industry.

Top News, Business 7:07pm IST

April-July fiscal deficit at 69 pct of annual target


NEW DELHI - India's fiscal deficit was 3.85 trillion rupees ($57.93 billion) during April-July, or 69.3 percent of the full-year target, government data showed on Monday.

Top News, Business, Economy 4:49pm IST

Markets end lower, post biggest monthly drop since Nov 2011


REUTERS - India's stock markets ended nearly 0.5 percent lower on Monday as concerns about a deficient monsoon and weak rupee curtailed optimism around likely strong GDP data due later in the day.

3:45pm IST

Global stocks ease on China, Fed concerns; oil rallies


NEW YORK - World stock indexes edged lower on Monday amid persistent investor concerns about slowing growth in China and the prospect of higher U.S. interest rates, while oil prices rallied.

10:37pm IST

Oil spikes on surprise cuts to U.S. oil production


NEW YORK - Oil prices surged more than 5 percent Monday, continuing a three-day rally that has erased August's price declines, after U.S. oil production data showed output falling and OPEC said it would talk with other producers about low prices.

10:17pm IST