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The Economic Times Insolvency law fosters healthy credit culture: NFRA chief Pandey

On Tuesday, Ajay Bhushan Prasad Pandey, chairman of the National Financial Reporting Authority (NFRA), emphasized the importance of insolvency law for a healthy credit culture and its role in unlocking capital from unviable businesses for productive use through the resolution of bankrupt firms' stress. He highlighted that the Insolvency and Bankruptcy Code (IBC) has a significant role in strengthening the economy beyond just enabling lenders to recover dues from corporate debtors.

The Economic Times Budget 2024: Govt may relax 45-day payment rule for MSMEs

The government is considering relaxing the 45-day payment requirement to MSMEs to prevent large corporations from seeking other sourcing options. This potential change to Section 43B(h) of the Income Tax Act might be announced in the upcoming Budget on July 23. Last year's Budget introduced this clause to ensure timely payments to MSMEs, penalizing larger companies for delays by disallowing tax deductions on unpaid expenses.

The Economic Times Budget 2024: For micro, small & medium cos, a major funding boost

The upcoming budget may introduce a scheme to address credit gaps for MSMEs, potentially exceeding ₹10,000 crore. Interventions could include interest subvention and credit guarantees. The aim is to enhance credit access for the sector and promote growth. Stay updated for further developments as the budget approaches.

The Economic Times Reliance, Tata, Maruti & others rally veterans to now defend the giants' next growth phase

Indian companies, including Reliance Industries and Tata Group, are leveraging the talent of ex-service personnel for their unique skills and capabilities. With a focus on fitness, discipline, crisis management, and execution rigour, these veterans are filling skill gaps in various sectors such as logistics, engineering, and administration.

The Economic Times Budget 2024-25 eyes GST reforms, boost for renewable energy

Recommendations by NSEFI include maintaining the exemption from basic customs duty on imports of key renewable energy components such as wafer, ingots, and polysilicon.

The Economic Times Auditor's role must transcend from verification to assessing material risks: RBI DG Rao

RBI’s Deputy Governor M Rajeshwar Rao said that the role of auditor must transcend from just verifying financial statements to holistically assess material risks being posed by the business operations and business model being pursued by the entity.

The Economic Times Cognizant CFO Jatin Dalal settles lawsuit with Wipro; pays Rs 4 crore in settlement

Cognizant has also announced the resolution of the lawsuit involving former Wipro senior vice president Mohammad Haque.

The Economic Times FIVE Holdings appoints Kallol Kundu as new CFO

In his new role, Kallol will succeed Jaydeep Anand, who will transition to the position of Chief Development Officer while retaining his responsibilities as Chief Sustainability Officer. As CFO of FIVE Holdings, Kallol will play a role in advancing the Group's digitalisation initiatives.

The Economic Times Geojit Financial Services CFO Mini Nair supports SEBI's 'True to Label' pricing rules, sees challenges for discount brokers

Nair said new SEBI regulations enhance transparency and customer protection while noting their minimal impact on Geojit's business model.

The Economic Times Manufacturing for Tomorrow: Integrating Environmental Sustainability into Supply Chain Finance

Deepak Rastogi, CFO at Deepak Fertilisers and Petrochemicals LTD, explores the pivotal role of sustainable finance in driving eco-friendly practices within the manufacturing sector.

The Economic Times JSW Steel to spend $1 billion on decarbonisation, aims net neutral by 2050

In its first phase by 2030, the country’s largest steel-maker intends to cut its emissions to 1.95 tonnes of CO2 for every tonne of steel produced. Its currently emits 2.36 tonne of CO2 for a tonne of steel.

The Economic Times At private dinner, Modi & Putin discuss Eurasian geopolitics, Indian investments

Prime Minister Narendra Modi and Russian President Vladimir Putin engaged in a detailed dialogue on Monday addressing the Eurasian landscape and its security, trade imbalance, the upcoming BRICS summit in Kazan, joint defense manufacturing under the 'Make in India' initiative, and India's expansion in the Far-East via the Vladivostok-Chennai maritime corridor.

The Economic Times Price cuts fail to speed up FMCG sales as urban India takes it slow

FMCG sales growth has slowed down in both urban and rural areas despite price cuts. Factors such as heat waves, election-related restrictions, and reduced cash-buying have impacted demand. Analysts foresee a potential rural-led recovery in the second half of FY25, with expectations of muted value growth and potential volume growth for staple companies.

The Economic Times Budget 2024 staffing industry's wish list: Tax breaks, skill development, and PF reforms

The staffing and HR industry anticipates tax breaks and investment in skill development in the FY25 budget. They propose lowering the GST on employment services from 18% to 5% and easing EPF contribution rules for staffing companies. Emphasizing skilling in sectors like semiconductors and EVs could address talent shortages and unemployment.

The Economic Times Budget 2024: Travel agents body demands industry status, GST rate rationalization for tourism sector

Union Budget 2024: On Monday, the Travel Agents Association of India (TAAI) called for several measures to support the domestic travel and tourism sector. These include streamlined visa requirements, promoting visa-free entry for tourists, rationalising GST rates and GST credit, and granting industry status to all stakeholders. The sector contributes 5.8 percent to India's GDP and has an ambitious target of reaching USD 1 trillion by 2047.