India: Reserve Bank of India Says Intervening In Rupee Futures Market

Indian central bank chief to step down in surprise move

2016/06/20 India’s “rock star” central bank governor Raghuram Rajan, feted by foreign investors but under pressure from political opponents at home, stunned government officials and colleagues on Saturday by announcing he would step down next just one three-year term. Rajan, a former chief economist at the International Monetary Fund, is held in high esteem by policymakers and investors at home and abroad for overhauling the way the Reserve Bank of India (RBI) operates.

Bangalore, India gives Seychelles a special welcome

2016/06/12 The Seychelles Tourism Industry were in India last week on what they called a Tourism Promotional Roadshow that took them to Chennai and as well to Bangalore. This Promotional Roadshow was a followup to similar events but a year ago in Delhi and Mumbai and the aim of this drive into India was for the tropical islands of the Seychelles to increase its visibility in order to remain relevant as a holiday option for the Indian holiday makers.

IndiGo airlines has terminated two of its ground staff

2016/05/15 IndiGo airlines has terminated two of its ground staff besides suspending three additional employees at the Srinagar airport for a week over security breach last month. The security breach at Srinagar Airport took place on April 1 at the same time as a senior AAI official allegedly misused his position and travelled on a boarding card of his subordinate. An IndiGo spokesperson confirmed the incident and termination of two of the airlines-employees. Sources, however, said that besides sacking the two employees on Friday, the Gurgaon-based budget carrier has as well suspended three ground staff employees for seven days and issued them "warning letters" for "negligence" next investigations found multiple security breaches by a high-ranking security official at the aerodrome.

Oil & Gas Global powers are realigning on the back of oil – and India is driving that realignment

2016/04/27 Ahead of 2040, as India’s people continues growing and its economy expands to additional than five-times its current size, the country is to lead the surge in world request for energy. A cross-country surge in energy request and new regulations aimed at improving the oil and gas sector are to position India as a world bright spot for energy firms worldwide amid an increasingly complex scenario. And Oil and Gas Minister Dharmendra Pradhan has the task of reforming India’s natural resources policies and implementing them in a equitable manner to win the confidence of the world industry The present and rather sustained crash in world crude prices is due to oversupply – at the same time as producers are taking out additional than world request. In 2014, at the same time as prices were hovering above $100 a barrel, producers were extracting approximately 90 million barrels a day and the world request was around 93 million barrels. And the Indian economy was thriving in that false sense of security. With oil being a finite commodity, expectations of prices rising beyond the $200 dollar/barrel were rife. But factors the industry did not take into account include the rise of new technologies, energy efficiency due to public discourse and behavior change, and new oil and gas producing nations coming through. The same producers are extracting additional than 96 million barrels of oil daily, while world request is around 94-95 million barrels a day. As a result, prices have crashed to historic lows of around $30-$40 a barrel.