The Economic Times
The Economic Times Kotak MD & CEO's assurance to customers after RBI’s curb
Reserve Bank of India on Wednesday halted Kotak Mahindra to onboard customers for its digital-only zero-balance saving accounts. Ashok Vaswani, MD & CEO of Kotak Mahindra Bank released a letter assuring uninterrupted services to the pre existing customers. Read on to know more:
The Economic Times NFRA slaps Rs 5 lakh penalty on audit firm for lapses in Vikas WSP audit case
​The regulator noted that the financial statements of VWL were materially misstated due to partial recognition of interest cost on borrowings classified as Non-Performing Assets (NPAs) by banks in FY20, resulting in overstatement of profits.
The Economic Times Indian economy stands out with strong show: Finance Ministry
India's finance ministry highlighted the country's "promising economic performance," citing resilient growth, stable prices, and a strong external sector in its monthly economic report for March. Despite global uncertainties, India's economy remains robust, driven by factors like domestic demand, investment, and manufacturing momentum. The report also noted favorable monsoon forecasts, which are expected to boost agricultural output and ease inflation concerns. Additionally, India's trade deficit is projected to improve, supported by initiatives like the production-linked incentive schemes and recent trade agreements.
The Economic Times Won't back down, says Religare's Rashmi Saluja amid tiff with Burman family
"I may have agreed that five years ago, I didn't have the experience, but after five years, three successful businesses, a company turnaround and a great team and board to support me, I will not back down," Saluja told ET in an interview. "Any allegations of corporate governance against the board and the management are directly reflected toward the regulators. Our naysayers need to understand that."
The Economic Times FirstCry to refile IPO papers post Sebi order
FirstCry is set to withdraw its papers for an up to $500 million IPO as early as next week, after India's markets regulator raised questions over key metrics it disclosed to investors.
The Economic Times Sebi gives approval to CRISIL subsidiary to provide ESG ratings
The Securities and Exchange Board of India (Sebi) has approved CRISIL ESG Ratings & Analytics Limited as a Category 1 provider of environmental, social, and governance (ESG) ratings. The approval comes at a time when ESG disclosures are improving and financial markets recognize the need for independent ESG ratings.
The Economic Times Sam Pitroda inheritance tax debate: What is inheritance tax in India
What is inheritance tax: When someone passes away, it's important to understand that there are two types of taxes that may apply - estate and inheritance taxes. Estate taxes are calculated based on the total value of the deceased person's possessions as of the date of death, whereas inheritance taxes are charged on the individuals who receive the property.
The Economic Times Petitions pile up as GST notices come after 3 years of returns filing
Many businesses, who were served with goods and services tax (GST) notices in December 2023 and January of this year following the extension of the notice issuance deadline, have taken their grievances to various high courts, contesting the legal legitimacy of the notices.
The Economic Times Gender diversity still a long way away among CFOs as women still remain underrepresented
Despite gender diversity efforts in India, women are underrepresented in CFO roles. Challenges include bias, retention issues, and supply-side constraints. Companies struggle to retain high-potential women, impacting women's rise to top finance roles.
The Economic Times Large businesses want zero-trust strategy
In the constantly evolving world, where the risks are high, the majority of businesses are adopting a zero-trust strategy. More than half of the large organisations have implemented zero-trust architecture to prevent data breaches.
The Economic Times From Russian funds with love: Plan mooted to tap rupee balance in special accounts
Russian financial institutions have been negotiating with the Reserve Bank of India (RBI) to use the rupees in special accounts in India for investment in stocks and securities. Currently, 10 Russian institutions, including its largest lender, have registered as foreign portfolio investors (FPIs) with Sebi. However, they have made little investments due to US sanctions in the wake of Russia's war with Ukraine.
The Economic Times T Rabi Sankar re-appointed as RBI DG for one year
Sankar, a career central banker who joined the RBI in 1990, was initially appointed as Deputy Governor on May 3, 2021 for a three-year period.
The Economic Times FSIB Recommends Rana Ashutosh for State Bank’s MD Post
Rana Ashutosh Kumar Singh recommended by FSIB for SBI MD post, pending Appointments Committee of the Cabinet approval under PM Modi's leadership. FSIB, led by Bhanu Pratap Sharma, conducted the selection process. Singh currently serves as SBI's deputy MD.
The Economic Times Invesco AMC, its CEO, others settle case with Sebi
The case relates to an inspection of mutual funds and portfolio management services (PMS) activities of Invesco Asset Management for the period between October and November 2021.
The Economic Times State of the Economy: How did the macroeconomic indicators perform in March 2024?
With the GST revenue standing at second-highest collection ever and the foreign exchange reserves hitting an all time high. The last month of the financial year 2023-2024 recorded positive numbers for various macroeconomic factors defining the health of the Indian Economy. Here is a catalogue of major statistics writing India’s growth: