The Economic Times The Economic Times

The Economic Times Record foreign exodus casts a pall over India’s stock market

India's stock market is experiencing a decline as foreign investors withdraw record funds due to concerns about the slowing post-pandemic economic boom. Despite domestic investments preventing a larger downturn, waning consumer spending and high valuations are causing anxieties. Although the market shows potential for growth, experts predict further adjustments as the economic slowdown's impact becomes clearer.

The Economic Times CBDT allows tax officials to waive or reduce interest due from assessee

​The Act also empowers Principal Chief Commissioner (PrCCIT) or Chief Commissioner (CCIT) or Principal Commissioner (PrCIT) or Commissioner rank officers to reduce or waive the amount interest due to be paid.

The Economic Times India proposes merging regional rural banks to help them shore up capital, document shows

India's government has put forward a proposal to consolidate the country's regional rural banks from 43 down to 28. This move aims to bolster the banks' capital and reduce expenses. These banks, which primarily serve rural communities, held a combined 6.6 trillion rupees in deposits as of March 31, 2024.

The Economic Times High time for internal audit to deep dive in to ESG issues

In this article, Ashok Haldia, a seasoned finance expert and Chartered Accountant, explores the critical role of internal audit in enhancing ESG governance, emphasizing its potential to assist in navigating ESG and bring integrity in ESG reporting that goes beyond mere compliance.

The Economic Times India's Embassy REIT chief steps down after SEBI action

EMBASSY OFFICE-MOVES/ (URGENT)India's Embassy REIT chief steps down after SEBI action

The Economic Times Noel joins board of Tata Sons; first Tata family member since 2011 to serve on both boards at once

Noel Tata, newly appointed chairman of Tata Trusts, has joined the board of Tata Sons as a nominee director. This marks the first time since 2011 that a Tata family member holds positions on both boards concurrently. Tata Trusts, with its 66% stake, is the largest shareholder in Tata Sons, the holding company of the Tata Group.

The Economic Times Government calls applications for RBI Deputy Governor position

The Indian government is seeking a new deputy governor for the Reserve Bank of India. Applications are due by November 30. The position will succeed Michael Patra, whose term ends in January. Candidates need 25 years of experience in relevant fields. The appointment is for three years with a possibility of re-appointment. The government encourages applications from exceptional candidates.

The Economic Times Sebi issues Rs 130 cr demand notices to 5 entities in Reliance Home Fin fund diversion case

The Securities and Exchange Board of India (SEBI) has demanded Rs 130 crore from five entities, including Netizen Engineering and Citi Securities, for their involvement in the illegal diversion of funds from Reliance Home Finance Ltd.

The Economic Times Ambani's Reliance Jio IPO set for 2025, retail debut much later, sources say

RELIANCE-INDIA-Exclusive-Ambani's Reliance Jio IPO set for 2025, retail debut much later, sources say

The Economic Times Operational creditors cannot claim interest without prior agreement with corporate debtor:NCLAT

The NCLAT ruled that invoices with interest clauses are not enforceable against debtors without a formal interest agreement. The tribunal found that the debtor had already paid the principal amount. The operational creditor's appeal against the Adjudicating Authority's order was dismissed. The NCLAT's decision provides clarity on the enforceability of interest claims in corporate debt cases.

The Economic Times India to revamp power demand forecasting for better planning

India is updating its electricity demand forecasting to match generation needs and maintain grid stability amid rising use of renewable energy. The Central Electricity Authority will collaborate with weather agencies for better data and conduct more frequent forecasts. This aims to accurately predict demand, manage costs for utilities and avert blackouts.

The Economic Times Banks form panel to take up bar on overlapping biz

Indian banks are establishing a committee to address concerns regarding the Reserve Bank of India's (RBI) proposed regulations. The new rules mandate one entity per banking group for specific businesses, impacting subsidiaries. Banks find the two-year compliance window too short, particularly for listed subsidiaries, and plan to engage with the RBI and government stakeholders.

The Economic Times NFRA may take up revision of 35 audit standards next week

The National Financial Reporting Authority (NFRA) and the Institute of Chartered Accountants of India (ICAI) are headed for another clash. The upcoming NFRA board meeting will address revisions to auditing standards, including the controversial SA600, despite opposition from ICAI representatives on the board.

The Economic Times KPMG to lay off less than 4% of US audit workforce, source says

KPMG-LAYOFFS/ (URGENT,PIX)KPMG to lay off less than 4% of US audit workforce, source says

The Economic Times Australian police search Sydney PwC office over tax leak probe

Australian police searched PwC Australia's Sydney office investigating a former partner who leaked confidential government tax plans. The firm reportedly shared the data internally and covered up its use. PwC is cooperating fully with the investigation. This incident led to the resignation of several partners and the sale of its government consulting business.

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