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The Economic Times Kerala High Court classifies Malabar 'Parota' as akin to bread, subject to lower GST @5%

​Tax experts state that advance rulings are binding on the parties with respect to the transaction on which the ruling is sought. However, they do have a persuasive impact in assessment of similar cases. A high court order, on the other hand, sets judicial precedent. Fear of litigation may however keep manufacturers in other states from following this high court ruling.

The Economic Times Temasek, Fidelity may invest $200 million in Lenskart at $5 billion valuation

This round would take homegrown eyewear company Lenskart's valuation to over three times that of Warby Parker, a New York-based online retailer for spectacles and contact lens. Warby Parker listed on the NYSE late in 2022 and has a market capitalisation of around $1.55 billion.

The Economic Times India requires 30 lakh CAs for $30 trillion economy by 2047, says ICAI President

ICAI President Ranjeet Kumar Agarwal projects a surge in demand for chartered accountants, supporting India's aim of a $30 trillion economy by 2047. He also emphasizes on the pivotal role of digitalization and the institute's initiatives for skill enhancement and global alignment with mutual recognition agreements.

The Economic Times RBI asks Kotak Mahindra Bank to stop issuing fresh credit cards, onboarding fresh customers via mobile banking

The Reserve Bank of India on Wednesday asked Kotak Mahindra Bank to cease issuing new credit cards and onboarding of new customers through online portal.

The Economic Times Lendingkart appoints Mukund Barsagade as Group CFO

Previously, Barsagade was the CFO of Paytm Payments Bank.

The Economic Times U GRO Capital CFO calls for new NBFC category to boost MSME financing

U GRO Capital's CFO, Kishore Lodha, suggests a distinct NBFC category for MSMEs to address their financial needs effectively. The CFO also highlighted the company's commitment to sustainability, emphasising growth strategies, including impact assessments and innovative financing solutions like rooftop solar and water sanitation.

The Economic Times Jio veteran Sanjay Mashruwala quits

"The Board expressed its gratitude for the valuable contributions made by Sanjay Mashruwala during the company's transformative journey," Reliance Industries Ltd said in an exchange filing on Tuesday.

The Economic Times NARCL raises ₹670 cr in fresh equity from existing shareholders

The government-promoted National Asset Reconstruction Company (NARCL) has raised ₹670 crore equity from existing shareholders and is in the process of raising ₹3,200 crore debt to support its plan to acquire ₹1 lakh crore of stressed assets. However, the bond issuance has faced challenges due to pricing differences between existing shareholders and the NARCL board. The ARC aims to raise funds through a five-year bond and fund-based limits but is negotiating the coupon rate with shareholders.

The Economic Times Private sector activity rises to highest level in nearly 14 years

India's private sector activity surged to a 14-year high, driven by strong demand, according to preliminary data released by HSBC. The Flash India Composite PMI Output Index rose to 62.2 in April. Service growth accelerated, especially in international markets, while manufacturing remained steady. Optimism and improved margins were noted, but inflation remained above average

The Economic Times Investor group accuses Byju’s of violating NCLT order

A group of Byju’s investors led by Dutch investor Prosus is seeking to block a $200 million rights issue and the removal of founder Byju Raveendran as CEO of the edtech firm.

The Economic Times RBI: Heatwaves, geopolitical tensions may stoke inflation

According to Tuesday's state of the economy report by the RBI, extreme weather events and persistent geopolitical tensions may contribute to inflation risks, while also potentially causing fluctuations in crude oil prices. The report highlighted a positive trend in real GDP growth, supported by robust investment demand and optimistic sentiments among businesses and consumers.

The Economic Times RBI economists cautious as inflation risks linger

They are flagging off risks from extreme weather conditions that would pose risks to inflation along with risks from the geopolitical tensions that could flare up crude prices. In their assessment of the economy, the RBI economists in its latest monthly bulletin also say that the economy has to grow 8-10 percent every year to reap the demographic dividend.

The Economic Times Exclusive: PayU gets Payment Aggregator licence from RBI; company to onboard new merchants soon

This is a testament to our relentless focus on compliance and corporate governance," Anirban Mukherjee, CEO, PayU, told ETBSI.

The Economic Times Fractional ownership platforms start registering under new SEBI regulations

Integrated co-working firm EFC (I) Ltd plans to form an investment manager entity to manage assets and investments of SM REIT through a wholly owned subsidiary EFC Ltd. Others like Strata and WiseX are also taking similar steps. The company’s board has approved a proposal to create a step-down subsidiary under EFC Ltd for acting as an investment manager to SM REIT.

The Economic Times Finance Minister says working to empower rural women with technology

Referring to the government's recent initiative of NaMo Drone Didi, which trains women to pilot drones in villages to spray pesticides and fertilisers on crops, the finance minister said teaching women a technology that even men weren't using was a big step in boosting their confidence.