Finance

Sunil Sayal, CFO, Nokia Solutions   On the macro side, this Budget has put aside a larger proportion of resources for the upliftment of social standards and the rural population, namely...
Feb 02, 2018
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Vishesh C Chandiok, National Managing Partner, Grant Thornton India LLP: Overall, Budget 2018 is very much aligned to the macro-global direction – reduction in corporate tax rate, protecting...
Feb 01, 2018
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Excludiung women from workforce has been a loss to big Asian economies like China and India. If these countries address this issue, then the gross domestic product (GDP) can be as high as 18 per...
Jun 21, 2018
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India is likely to achieve double digit growth by the fourth quarter of this year, said Piyush Goyal, Minister for Finance, Railways and Coal.   He said there was a demand uptick in the economy...
Jun 20, 2018
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The roll-out of goods and service tax (GST), which is regarded as one of the biggest tax reforms post Independence, has resulted in formalisation of economy and information flow, consequently,...
Jun 19, 2018
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The Government of India is committed to meet the fiscal deficit target of 3.3 per cent for 2018-18, interim Finance Minister Piyush Goyal said.   He said the government will meet all economic...
Jun 18, 2018
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The Financial Stability and Development Council (FSDC) sub-committee headed by RBI governor Urjit Patel, on Thursday, looked into the insolvency resolution process under the Insolvency and...
Jun 15, 2018
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Fitch Ratings, on Wednesday, upped India's economic growth forecast to 7.4 per cent for 2018-19.   Earlier, the global ratings agency had projected GDP growth at 7.3 per cent for 2018-19 and 7....
Jun 15, 2018
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General Motors, on Wednesday, announced Dhivya Suryadevara as the Chief Financial Officer (CFO) of the company.   Suryadevara, 39, is currently working as the vice president of corporate...
Jun 14, 2018
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The Government of India has extended special refund drive till Saturday. The fortnight drive, which was launched by the Government of India on May 31, was set to expire tomorrow.   "In view of...
Jun 13, 2018
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RBI governor Urjit Patel has suggested central bank nominee to refrain from the boards of public sector banks (PSBs) to avoid "any conflict of interest".   Patel told this while briefing...
Jun 13, 2018
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The Reserve Bank of India (RBI) has drafted guidelines on the loan system for delivery of bank credit.   The move is aimed to bring credit discipline among large borrowers, enjoying working...
Jun 12, 2018
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All 21 public sector banks (PSBs) have incurred a whole loss of Rs 873.57 billion in the 2017-18 fiscal. These banks had posted a net profit of Rs 4.73 billion in 2016-17.   Punjab National...
Jun 12, 2018
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The latest data released by Insolvency and Bankruptcy Board of India (IBBI) reveals that lenders of 12 bankruptcy-hit companies were able to get back 70 per cent of the total amount claimed in the...
Jun 11, 2018
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Authority of Advance Ruling (AAR) unit of Andhra Pradesh has said the goods and services tax (GST) will be levied on the goods supplied from Customs warehouse to merchant vessels on a foreign run...
Jun 11, 2018
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Moody’s Investors Service, on Thursday, said the Government of India can achieve its fiscal deficit target of 3.3 per cent of GDP in 2018-19, with its commitment to fiscal consolidation.   It...
Jun 08, 2018
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India's economic growth accelerated to 7.7 per cent of GDP in the January-March period of last fiscal.     Even Reserve Bank of India estimated GDP growth rate of 6.7 per cent for 2017-18 and 7...
Jun 08, 2018
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India might regain its position as the world's fastest growing major economy with growth rate at 7.3 per cent this fiscal year and 7.5 per cent in the next two "as temporary policy-driven factors...
Jun 07, 2018
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Foreign Direct Investment (FDI) to India was $40 billion in 2017 as against an inflow of $44 billion in the corresponding previous year, showing a decline of $4 billion, said World Investment...
Jun 07, 2018
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Gross non-performing assets in the banking system, which stood at 11.2 per cent (worth about Rs 10.3 lakh crore) in  2017-18, is likely to touch 11.5 per cent in this fiscal, says a Crisil report...
Jun 06, 2018
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The “hand of government” was the main driver behind GDP growth of 7.7 per cent in January-March period — the fastest pace in seven quarters, says an HSBC report.    Boosted by robust...
Jun 04, 2018
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Cumulative losses at public sector banks (PSBs) were large enough to wipe out almost all of the government's capital injections of $13 billion in 2017-18, said ratings agency Fitch Ratings, adding...
Jun 04, 2018
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The total gross GST revenue collected in the month of May is Rs 94,016 crore, said a note by Ministry of Finance on Friday.   The GST collection in April, on the cotrary, had crossed the Rs 1...
Jun 01, 2018
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The government has been able to meet the fiscal deficit target of 3.53 per cent of the GDP for the fiscal year 2017-18.    The fiscal deficit was Rs 5.91 lakh crore, which is 99.5 per cent of...
Jun 01, 2018
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India's per capita income grew at a rate of 8.6 per cent to Rs 1,12,835 during 2017-18, said an official data released on Thursday by the Ministry of Statistics and Programme Implementation (...
Jun 01, 2018
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Backed by gains in manufacturing and consumer spending, India will most likely retain the tag of the world's fastest growing major economy in the January-March quarter, a poll conducted by Reuters...
May 31, 2018
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About 20 public sector banks have incurred a loss of nearly Rs 60,000 crore in the January - March period of 2017-18.   There are just two banks - Indian Bank and Vijaya Bank - which have...
May 30, 2018
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The Ministry of Corporate Affairs (MCA) will issue notices to a fresh set of 2.25 lakh companies, for not making requisite filings for 2015-16 and 2016-17, said a report by TOI.   Sources told...
May 29, 2018
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India has moved a notch to 44th position in World Competitiveness Ranking 2018, compiled by International Institute for Management Development (IMD).    The US tops the chart followed by Hong...
May 28, 2018
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Five union territories (UTs) and two states have implemented intra-state e-way bill system today.   The two states that rolled out the electronic bill are Manipur and Maharashtra; while five...
May 25, 2018
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Backed by better output in industrial and agricultural sectors, the country’s GDP growth will reach 7.5 per cent this financial year, up from 6.6 per cent in 2017-18, says a report by Care Ratings...
May 25, 2018
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The enforcement directorate (ED) has filed its first chargesheet against PNB scam accused diamantaire Nirav Modi and his associates.   It is alleged that over Rs 6,400 crore of bank funds were...
May 25, 2018
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In a move that will boost the fund-starved small businesses, the finance ministry has tied up with over 24 e-commerce companies to provide easy finance to small entrepreneurs under the Pradhan...
May 24, 2018
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Indian startups seem to have become a favoured investment avenue for foreign funds. According to media reports, the key reason for increasing foreign investments in Indian startups is the innovative...
May 23, 2018
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There is good news in the offing for the Indian economy, with GDP growth in January-Mach 2017-18 quarter  being seen at 7.4 per cent. According to rating agency Icra , the improvement in GDP numbers...
May 22, 2018
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Credit ratings agency CARE Ratings has said that the Reserve Bank of India (RBI) may go for a rate change if the inflation touches 5 per cent mark. “In case, the inflation touches the 5 per cent mark...
May 15, 2018
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The finance ministry is working on innovative ways to deal with bad loan burden, and one of them is the issuing of provision shore-up certificates (PSC) to banks.   With the help of this...
May 14, 2018
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The government has further tightened norms for independent directors in order to strengthen the corporate governance structure in companies. In a move that is bound to bring in better corporate...
May 11, 2018
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In a move aimed at appeasing the strong opposition to the  terms of reference (ToR), the 15th Finance Commission (FC) has set up  a six-member council to “advise and assist” it on the ToR and “help...
May 10, 2018
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The Indian economy is gradually coming out of the twin shock of demonetisation and GST, said a research report by India Ratings.   However, it cautioned on the widening of the current account...
May 10, 2018
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The Indian economy will see a growth rate of 7.4 per cent in the current fiscal year, with the negative effects of note ban and Goods and Services Tax (GST) fading away, says a report by the...
May 10, 2018
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A recent survey of chief financial officers (CFOs) by Dun & Bradstreet found the optimism levels going into the second quarter of 2018 touching a four-year low regarding. The optimism was low...
May 09, 2018
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The new single-page return form tries to redress grievances of taxpayers with regard to filing of indirect tax.    On the other hand, it has also tried to retain the basic objectives of GST –...
May 09, 2018
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India has slipped to the sixth position globally in the business optimism index for the first quarter of 2018, says a survey by Grant Thornton.   As per Grant Thornton's International Business...
May 09, 2018
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With a threat of tariff hike looming large from the US government, China has set a June 30 deadline to set open $42 trillion financial sector to the world.   The Chinese government will ease...
May 08, 2018
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The insolvency regulator IBBI has suspended the registration of an insolvency resolution professional (IRP) Bhavna Sanjay Ruia for one year for charging an exorbitant fee.    Her suspension...
May 08, 2018
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India will be the only economy across globe to create a skilled labour surplus by 2025, said a study by consulting firm Korn Ferry.   The surplus labour will come on the back of “vast supply of...
May 08, 2018
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A proposal to collect passport details of directors on the boards of companies is afoot as one of the initiatives to prevent fraudsters from fleeing the country. According to media reports, the...
May 07, 2018
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There is a need to review the insolvency code regulations to ensure that they are not "misused or misinterpreted", National Company Law Tribunal (NCLT) has told IBBI.   The Tribunal said there...
May 07, 2018
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The Asian Development Bank (ADB) has projected India's growth rate at 7.3 per cent in 2018, which will further accelerate to 7.6 per cent in 2019.   ADB Chief Economist Yasuyuki Sawada said...
May 07, 2018
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