Finance

  In a troubling finding during its audit, the Comptroller and Auditor General of India has observed that the government of India has total tax demand arrears of staggering Rs 11 lakh crore till the...
Aug 07, 2019
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In a rare piece of positive news from the beleaguered Infrastructure Leasing & Financial Services which has an outstanding debt of about Rs 1 lakh crore, the company board said that it’s taking...
Jul 25, 2019
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Edelweiss is in advanced stages of conversation with US-based Kora Management to sell 20 percent of Edelweiss Wealth Management for Rs 2,000 crore, valuing the business at Rs 10,000 crore, according...
Jul 17, 2019
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India’s biggest domestic carrier is going through some turbulence right now. With the allegations about related party transactions put forward by promoter Rakesh Gangwal, the company has been...
Jul 17, 2019
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Tata Group paid the government and its lenders about Rs 50,000 crore to complete the sale of its mobile-phone services business to Bharti Airtel Ltd. through a deal that was announced two years ago...
Jul 08, 2019
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In an unprecedented move in the world of new-age startups, Oyo Hotels & Home founder Ritesh Aggarwal is in talks to buy back shares worth $1.5 billion from investors such as Sequoia Capital and...
Jul 08, 2019
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Retail wealth management firm Bajaj Capital is looking to raise additional funds to boost its expansion drive in the underserved financial products market through private equity investments.    The...
Jul 02, 2019
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Mahindra and Mahindra Financial Services, the non-banking arm of the Mahindra group is exploring options to tap the overseas markets to raise at least $460 million through a mix of loans and bonds,...
Jun 26, 2019
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Global conditions and uncertainty around impending Brexit led to a 33 percent decline in merger and acquisition deals in the first quarter of 2019 in value terms. A total of 110 M&A deals worth $...
Apr 18, 2019
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The Reserve Bank of India (RBI) accepted the $5 billion it targeted from banks at its currency swap auction to ease liquidity ahead of the financial year-end this month. According to media reports,...
Mar 27, 2019
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The falling private capital expenditure, as indicated by various data, paints a from picture of the overall health of India’s private sector. A report in FE Online said, the private sector capital...
Mar 27, 2019
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As fiscal federalism gathers momentum in the era of uniform goods and services tax (GST), Reserve Bank of India (RBI) governor Shaktikanta Das has given a call for a permanent status to Finance...
Mar 20, 2019
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‘Private Corporate Investment in 2018-19: Slow Recovery Underway’ a study by S Sujeesh Kumar and RK Sinha of RBI's Department of Statistics and Information Management, says the projects sanctioned in...
Mar 18, 2019
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India’s top listed companies have taken up ‘integrated reporting’ (IR) to narrate their value-creation stories, says an analysis by KPMG, as reported in The HinduBusinessLine online. According to...
Mar 15, 2019
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A Reserve Bank of India (RBI) study has shown that private corporate investment plans have fallen for the seventh year in a row on account of economic slowdown, poor project appraisals and huge...
Mar 14, 2019
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An alleged tax fraud of Rs 224 crore has been detected along with fake invoices worth Rs 1,289 crore by a group of eight companies involved in the trade of iron and steel products, media reports said...
Mar 13, 2019
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The Insolvency and Bankruptcy Board of India (IBBI) has signed a Cooperation Agreement with the International Finance Corporation (IFC), a Member of the World Bank Group (WBG). The Agreement was...
Mar 08, 2019
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The Union Cabinet, chaired by the Prime Minister Narendra Modi has approved Ex-post facto approval of the Memorandum of Understanding (MOU) signed in 2008 and renewed in 2014 between the Institute of...
Mar 08, 2019
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The Reserve Bank of India (RBI) has sharply criticized credit rating firms for their failure to identify financial troubles in various companies, especially in the case of IL&FS, media reports....
Mar 08, 2019
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Trade and industry has been asked by the finance ministry to exercise caution while filing the annual GST returns form as the facility to revise it is not available, media reports said. In a...
Mar 08, 2019
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Union Minister for Finance and Corporate Affairs, Arun Jaitley said that the Government is committed to facilitate trade and industry in the country so that the momentum of growth continues to move...
Mar 06, 2019
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In its interim report to the board, audit firm Grant Thornton India has raised concerns that transactions worth more than Rs 13,000 crore at Infrastructure Leasing & Financial Services (IL&FS...
Mar 04, 2019
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Indian companies seeking ownership details of their global and American depositary receipts has leading global custodian banks in a fix, reports ET online.  Under the request from Indian companies,...
Mar 04, 2019
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Union Minister of Finance & Corporate Affairs Arun Jaitley said the Public Sector Banks (PSBs) are the lifeline of Indian economy. He said that if their health is not good, then economy at large...
Mar 01, 2019
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T&E expense consumes a considerable chunk of an organization’s budget. Many companies consider it as the second-most difficult operating cost to control, yet they choose to ignore digitizing of...
Feb 28, 2019
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GST evasion worth Rs 20,000 crore has been detected so far  this fiscal by the Government, media reported. The Government will take more steps to check frauds and increase compliance, reports quoted...
Feb 27, 2019
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The Reserve Bank may cut rates to the tune of 75-100 basis points in the next financial year, as inflation is likely to remain under 4 per cent till October, says a UBS report. The forecast also...
Feb 27, 2019
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The government will soon come out with "effective steps" to deal with instances where entities back out after making frivolous bids under the insolvency law, Corporate Affairs Secretary Injeti...
Feb 27, 2019
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The proposed GST rate cut with denial of input tax credit to builders would come with the condition that builders must ensure 80% of the inputs are procured from GST-registered dealers. This comes as...
Feb 22, 2019
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Rules barring foreign funds from directly buying up bank loans are aggravating India’s distressed debt market, says Bank of America Corp. The US lender said that in the past year, it had to team up...
Feb 20, 2019
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In a report titled ‘Indian Corporate 2019 Outlook - Time For Caution’, S&P Global Ratings has forecast that rated Indian corporates may likely face a slowdown in revenue growth over the next 12...
Feb 19, 2019
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The government announced its decision to raise angel tax exemption limit for startups today whose share premium do not exceed Rs 25 crore from earlier Rs 10 crore. The decision came two weeks after...
Feb 19, 2019
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The global trade growth is likely to slow down further in January-March period of 2019, the World Trade Organization (WTO) has said.    The interovernmental organisation, in September last year...
Feb 19, 2019
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The bankers want speedy resolution of cases under the Insolvency and Bankruptcy Code (IBC). To this, they have suggested, among other things, the introduction of a mechanism to cut down unwanted...
Feb 18, 2019
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All states except Kerala and Telangana, and two Union Territories (with assemblies), will have higher annual threshold limits for mandatory registration for GST for goods suppliers. This will come...
Feb 15, 2019
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Pramod Chandra Mody,  a 1982-batch Indian Revenue Service (Income Tax cadre) officer, was on Friday appointed as the new chairman of the Central Board of Direct Taxes (CBDT).  CBDT is the policy...
Feb 15, 2019
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The fate of operational creditors in the Essar Steel insolvency case hangs in the balance, the Supreme Court (SC) on Monday dismissing a plea file by them.   The creditors had also sought to be...
Feb 12, 2019
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State Bank of India (SBI) and Oriental Bank of Commerce (OBC) have put on sale financial accounts of the stressed companies. The move by these state-owned banks is aimed to recover dues of around...
Feb 11, 2019
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The International Monetary Fund (IMF) warned governments to gear up for a possible economic storm, with the world experiencing a dismal growth. “The bottom line — we see an economy that is growing...
Feb 11, 2019
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The latest edition of Global Economic Conditions Survey (GECS) from ACCA (the Association of Chartered Certified Accountants) and IMA (Institute of Management Accountants) finds India’s confidence is...
Feb 08, 2019
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In an acknowledgment of the improvement in India’s innovation ecosystem, the US Chamber of Commerce moved India up eight places in its international intellectual property (IP) index and has ranked...
Feb 08, 2019
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If your PAN is not linked with Aadhaar number, you can not file income tax return (ITR). In a ruling, the Supreme Court of India has made linking of Aadhaar with the Permanent Account Number (PAN)...
Feb 07, 2019
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The bank credit in India would grow at a average pace of about 13-14 per cent between 2018-19 and 2019-20, which is significantly faster compared with the 8 per cent recorded in FY2018, said a...
Feb 06, 2019
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The Reserve Bank of India is likely to change its monetary policy stance to "neutral" from "calibrated tightening" on Thursday and move closer to a rate cut in April as inflation remains below the...
Feb 05, 2019
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The Interim Budget estimate of 13.5% growth in gross tax revenue for FY20 on the back of a robust base of 17.2% growth in FY19 (revised estimate or RE) is somewhat too optimistic, says. Report in...
Feb 05, 2019
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Hari L Mundra, Independent Director, Board of ICICI Bank & Visiting Professor at IIM - Ahmedabad: The malaise in the Indian economy has been deep rooted, destroying our pride and image. No...
Feb 05, 2019
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Foreign Portfolio Investors (FPIs) withdrew over Rs 5,300 crore from the Indian capital markets in January, according to a PTI report published in Financial Express. The FPI outflow is being seen...
Feb 04, 2019
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Sugata Sircar, CFO & Country Finance Partner – Greater India Schneider Electric: With the containment of inflationary pressure and fiscal deficit, a healthy FDI and stabilisation of key policy...
Feb 04, 2019
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The interim Budget 2019-20 has estimated the fiscal deficit at 3.4 per cent of GDP for the year 2019-20.    “The estimate of incomes and expenditure which I am presenting today, pegs the fiscal...
Feb 01, 2019
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Union Minister of Finance Piyush Goyal has said that income tax refunds will be processed within 24 hours and released immediately. "Within the next two years, the assessment of all tax returns...
Feb 01, 2019
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