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The Economic Times
The Economic Times Big 4's dominance: Local companies call for level playing field
Indian auditing firms are pushing for fair competition with multinational counterparts, expressing concerns over the Big Four's increasing dominance and alleged manipulation of regulatory loopholes. The Institute of Chartered Accountants of India (ICAI) recently investigated affiliates of EY, Deloitte, PwC, and KPMG, where the firms were able to obtain court stays against disciplinary actions by the ICAI disciplinary committee after years of scrutiny, according to local rivals.
The Economic Times IndusInd promoter company to raise stake in bank to 26%
IIHL, an investment arm of the Hinduja brothers, aims to improve valuation of its investment to $50 billion by 2030. IIHL has already received RBI nod to raise its state in IndusInd Bank to 26%. The investment arm also plans to grow life and non-life businesses, start its health insurance operations and will retain Reliance Securities and ARC businesses.
The Economic Times ET explainer: Why RBI's dividend payout to govt this year will be lower
The budget estimates dividend transfer in FY'2024-25 at Rs 1.02 lakh crore from the Financial sector entities including the Reserve Bank and public sector banks. But a bulk of the dividend flows is from the central bank.
The Economic Times Citi targets clients with a ‘digital nexus’, high transaction volumes
Citi is strategically targeting high transaction volume sectors in India like industrials, auto supply chains, clean energy, mobility, consumer, and healthcare. The bank aims to maintain its lead in funding digital disruptors and supporting startups in navigating market conditions.
The Economic Times Plan in works to revamp goods and urban transport
India is planning a comprehensive overhaul of its urban transportation system, aiming to merge metro and bus services while prioritizing the adoption of clean energy. The proposal also includes incentives to encourage environmentally friendly intra-city freight transport using small trucks.
The Economic Times India new land of rising sun for auto exports
India's auto industry attracts global players like Honda and Suzuki for exports, with a focus on quality and cost efficiency. The country's emergence as a key manufacturing hub reflects its appeal to major auto manufacturers.
The Economic Times Non-compete agreement: Godrej vs Godrej a no-no even in realty business
Godrej Properties, which is part of GIG, will have the right to use the brand for real estate development. GEG entity Godrej & Boyce will use the brand for any development on land parcels it owned on January 1 and it will not undertake any development outside of those holdings.
The Economic Times Consumer companies on recovery path; FY25 India business looks bright
Global and Indian companies like Coca-Cola, Apple, and Reliance Retail anticipate a successful year ahead with strengthened demand post-March, despite global economic challenges. Robust growth forecasts are backed by increased consumer spending and a positive outlook for India's GDP.
The Economic Times Corporate affairs ministry bats for effective cost audits to curb corporate frauds
Corporate Affairs Ministry highlights the importance of cost audits in preventing manipulation by companies, such as misleading banks and evading taxes like GST. Compliance with the Companies Act, 2013 is crucial for monitoring cost records.
The Economic Times Govt mulls survey to estimate cost of logistics incurred by businesses
Government plans a survey with NCAER to estimate logistics costs accurately for businesses. DPIIT aims to improve World Bank Logistics Performance Index. The survey will provide insights into transportation costs and administrative bottlenecks.
The Economic Times RBI proposes tighter project finance rules
Reserve Bank proposes stricter lending rules to prevent stress on bank books during project implementation. Provisioning increases to 5% during construction phase, with reductions based on project phase and conditions met. Public feedback accepted until June 15.
The Economic Times Nirmala Sitharaman junks reports of income tax tweaks that made Sensex crash 1,100 points
The report claimed that once the new government takes charge, the income tax department may prevent tax base erosion, revamp laws on penalties, and impose uniform treatment for all asset classes. Currently, India follows a differential tax structure for various financial assets.
The Economic Times Delhi High Court orders SpiceJet to pay $1.58 million to engine lessors by May 22
Delhi HC orders SpiceJet to pay $1.58 million to engine lessors by May 22. Ongoing negotiations for settlement. Rs 50 crore payment deadline to avoid grounding engines, with total dues $10.84 million.
The Economic Times India's mining sector grows by 7.5% in FY24
India's mining sector thrived in FY24, with iron ore and limestone production leading the growth. The sector's positive performance was driven by robust demand in steel, cement, and aluminum industries, highlighting strong economic activity.
The Economic Times PNB Housing Finance aims to grow business by 17% in FY25, the highest rate since 2019
PNB Housing Finance targets significant loan portfolio growth in FY25, driven by retail lending focus. The lender aims to balance affordable, emerging, and prime segments, with strategic branch distribution and varied interest rates for different loan types.
