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Retail inflation eased to a 16-month low of 5.66% in March from 6.44% in the preceding month following a sharp drop in food inflation, justifying the Reserve Bank of India’s decision last week to pause interest rate increases.
General Atlantic (GA) infused an additional $100 million in PhonePe on Wednesday as a part of the payments company’s $1-billion primary funding plan and may pump in another $100-200 million, said three people with knowledge of the matter.
Tata Consultancy Services (TCS) said its net profit for the final quarter of fiscal 2023 rose 15% on-year, but India’s largest software exporter pointed to macroeconomic concerns, especially in the key market of North America, which dragged down its quarterly performance.
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