India plans credit guarantees for small firms, exporters hit by US tariffs, sources say

NEW DELHI/MUMBAI, Aug 11 (Reuters) – India is planning to provide credit guarantees for loans overdue up to 90 days to small businesses and exporters, amid higher tariffs imposed by the U.S., two government sources told Reuters.The federal finance ministry has proposed to provide 10%-15% credit guarantees to banks for advancing loans to stressed small … Read more

India approves $3.4 billion payout to state-run refiners for cooking gas losses

MUMBAI/NEW DELHI Aug 8 (Reuters) – India has approved 300 billion rupees ($3.4 billion) compensation to oil marketing companies for losses incurred in selling subsidised cooking gas, Information and Broadcasting Minister Ashwini Vaishnaw said on Friday.The compensation, approved by Prime Minister Narendra Modi’s cabinet, would be paid to state-run Indian Oil Corp (IOC.NS), opens new … Read more