@AshwinM_

Finance and Central Bank correspondent for @Reuters in India. Previously @MorningContext @EconomicTimes. Views are personal//🔴⚪//

 Mumbai
Joined July 2017
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Ashwin Manikandan retweeted
Reuters
@ReutersOct 15
India's RBI has spent half of $140 billion FX capital haul in rupee defence, bankers estimate reut.rs/4yj4wN9 reut.rs/4yj4wN9

India's RBI has spent half of $140 billion FX capital haul in rupee defence, bankers estimate

India has used up about half of the more than $140 billion it mobilised through special measures ‌to bolster its foreign exchange war chest earlier this year, highlighting pressure on the rupee and...

reuters.com
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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraOct 13
India postpones UPI payment fee rollout until after Diwali festival reuters.com/world/india/indi…

India postpones UPI payment fee rollout until after Diwali festival

India has postponed the rollout of a fee on large payments via its popular Unified ​Payments Interface platform until after the Diwali festival, the National Payments Corporation of India (NPCI) said...

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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraOct 8
India considers delaying UPI payment fee rollout, sources say - reuters.com/world/india/indi…

India considers delaying UPI payment fee rollout, sources say

India is considering delaying the rollout of a fee on large payments via its ​popular Unified Payments Interface platform by a few months, according ‌to a regulatory official and an industry execut...

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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraOct 6
India's insurance sales overhaul faces pushback from brokers, auto dealers Reuters @AshwinM_ and Kashish Tandon report. reuters.com/legal/litigation…

India's insurance sales overhaul faces pushback from brokers, auto dealers

India's plan to overhaul how insurance products are sold and priced ‌in Asia's third-largest economy is facing pushback from brokers and automobile dealers, who say the rules could lead to job losses...

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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraSep 24
Explainer: India's insurance overhaul: What changes and why it matters Reuters @AshwinM_ breaks down what is going on and why. reuters.com/legal/litigation…

Explainer: India's insurance overhaul: What changes and why it matters

India's insurance regulator has proposed capping what insurers pay banks, brokers and agents to sell policies, a move that could eventually make insurance cheaper for customers but squeeze distribu...

reuters.com
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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraSep 23
India proposes wide-ranging insurance reforms to bring down costs. Pretty dramatic reform of insurance commissions suggested, as Reuters @AshwinM_ had reported earlier in the year. reuters.com/legal/litigation…

India proposes wide-ranging insurance reforms to bring down costs

India's insurance regulator proposed overhauling commission rules to cap payouts, link them ​to product complexity and spread life insurers' commissions beyond a policy's ‌first year, a discussion...

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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraSep 22
When the dust settles on the UPI fee debate, the question is who will it really benefit. 💸Do we see a new push to get more customers / merchants into the UPI net? 💸Do the incumbents - PhonePe, Google Pay - end up benefitting the most and become even more entrenched? 💸Do smaller players get the firepower to expand and gain share? Reuters @kalrajs23 and @AshwinM_ explore some of these issues in this analysis. reuters.com/world/india/big-…

Big to get bigger: India's UPI fee shift to entrench dominant incumbents

The end of UPI's six-year reign as a free network will give PhonePe and Google Pay, which together accounted for 80% of UPI payment values last month, the firepower to expand to rural areas, while...

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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraSep 18
Apple Pay eyes fuller India rollout with Axis Bank. Discussions with some of the other top card issuers HDFC Bank and ICICI Bank continue. Reuters @AshwinM_ @GopikaGopa report. reuters.com/world/india/appl…

Apple Pay eyes India rollout with Axis Bank, sources say

Apple is poised to launch Apple Pay in India next month with Axis Bank's credit cards, three sources ​familiar with the matter said, as it works to expand support ‌among the country's lenders.

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Ashwin Manikandan retweeted
Jaspreet Kalra@kalrajs23Sep 15
And Sisyphus rolls the rock higher, slowly and steadily.... India consults banks, payment firms on fees for large UPI payments, sources say Story with @AshwinM_ reuters.com/world/india/indi…

India consults banks, payment firms on fees for large UPI payments, sources say

India's payments authority is talking to lenders and payments firms on Tuesday to discuss levying charges on large transactions in the world's ​largest retail fast-payment system, three sources...

reuters.com
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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraSep 15
NPCI, industry meet to discuss MDR, split between banks/others today - a day after the big change enabling fees on UPI payments above 2000 rupees. Reuters @kalrajs23 and @AshwinM_ report. reuters.com/world/india/indi…

India consults banks, payment firms on fees for large UPI payments, sources say

India's payments authority is talking to lenders and payments firms on Tuesday to discuss levying charges on large transactions in the world's ​largest retail fast-payment system, three sources...

reuters.com
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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraSep 10
India plans AI registry as it looks to roll out agentic payments, Reuters @AshwinM_ and @kalrajs23 report. reuters.com/world/india/indi…

India plans AI registry as it looks to roll out agentic payments, sources say

India's payments authority is building a registry to verify and monitor artificial intelligence agents making transactions on its homegrown ​payments network, three sources involved in the discussi...

reuters.com
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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraSep 10
India launches tap-and-pay option for real-time payments ahead of full Apple Pay rollout - reuters.com/world/india/indi…

India launches tap-and-pay option for real-time payments ahead of full Apple Pay rollout

India's payments authority launched a tap-and-pay option in ​its real-time payments network on Thursday, ‌ahead of an expected full launch of Apple Pay in the country.

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Ashwin Manikandan retweeted
Aditya Kalra
@adityakalraSep 1
A warehouse was raided in Mumbai by food safety officers. They were shocked. Inside, machines that helped fake expiry dates and nutritional info on PepsiCo, Nestle, Coca-Cola & Unilever packs They were for exports. Reuters had exclusive access. Read. tinyurl.com/27emmjes
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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraSep 1
India preparing rollout of agentic payments on UPI, Reuters @AshwinM_ reports. This would let AI agents make small digital payments without approval for every ‌transaction, with daily transactions like grocery purchases and the likes seen as use-cases. reuters.com/world/india/indi…

India preparing rollout of agentic payments on UPI, sources say

India is ​preparing a framework that would let AI agents make small digital payments without approval for every ‌transaction, three sources familiar with the matter said, potentially making UPI one...

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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraSep 1
While catastrophes of the scale seen in Nepal may be difficult to model, the growing economic toll ​of climate-linked disasters is renewing calls for more structured insurance protection. India has discussed a national disaster insurance plan. But implementation is awaited. Parametric insurance is yet to pick up as well. Interestingly, a hydropower project in Nepal may end up becoming a big test case for parametric insurance. This week's India File: reuters.com/world/india/hima…

NEWSLETTER: A Himalayan wake-up call for disaster insurance

The Nepal-Tibet disaster of last week will leave scars long after the floodwaters recede. It is also a stark reminder of a gap policymakers have yet to fill: how to protect households, businesses and...

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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraAug 25
The exceptionally strong bank credit growth in recent months is broad based, Axis Bank's Amitabh Chaudhry tells Reuters. From data centres to manufacturing and gold loans, strong traction is being seen across many segments. FCNR deposits will only add to this, albeit with a lag and with some interim margin pressure. @AshwinM_ @GopikaGopa reuters.com/world/india/indi…

India's Axis Bank bets on data centres to gold loans to outpace industry credit growth

Axis Bank , India's third-largest private bank by assets, expects credit ​growth to expand 300 basis points faster than the industry average in the current fiscal year on strong corporate and retail...

reuters.com
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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraAug 20
You know the newsroom has been taken over by the mallus when Onam Sadhya is on the table 😀 Thanking @GopikaGopa and @AshwinM_ for a fabulous meal and happy Onam from the Reuters Mumbai team !
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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraAug 12
India plans health insurance reforms to rein in costs, including a common product offering standard services and costs. One of the many changes India's insurance sector is bracing for. Reuters @AshwinM_ reports. reuters.com/legal/litigation…

India plans insurance reforms to rein in healthcare costs, sources say

India is weighing wide-ranging reforms of health insurance, from benchmarked ​treatment rates to a nationwide claims exchange, as it looks to boost transparency in a struggle to hold ‌down some of...

reuters.com
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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraAug 4
India paves way for return of merchant fees on digital payments reuters.com/world/india/indi…

India paves way for return of merchant fees on digital payments

India has moved a step closer to reintroducing merchant ‌fees on transactions made through its popular Unified Payments Interface (UPI) after proposed changes to the country's payments laws were...

reuters.com
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Ashwin Manikandan retweeted
Ira Dugal
@dugaliraJul 24
The unified KYC is close to launch, starting with banks, insurers and then asset managers. [Small change, with big impact. Hope we get it right this time.] @jaysh88 and @AshwinM_ report. reuters.com/world/india/indi…

India to roll out common customer ID for banks, insurers; mutual funds to follow, sources say

Indian banks and insurers will launch a common customer identification system in August, with ‌asset managers joining later, two regulatory sources and industry executives said, allowing customers to...

reuters.com
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