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The Economic Times
The Economic Times Wrap 2024: From Infosys to Apple, most discussed CFO exits of the year
2024 saw quite a lot of CFO resignations across major industries, reflecting shifts in leadership amid evolving challenges. We take a look at the top departures that made news.
The Economic Times Climate risks have hit financial system: RBI
The Reserve Bank of India (RBI) warns that climate risks are impacting the financial system, posing systemic challenges. These include physical and transition risks, impacting assets, businesses, and loan losses. Data gaps hinder comprehensive risk assessment and access to climate finance. The RBI emphasizes the need for adaptation measures alongside emission reduction strategies to address immediate climate change impacts.
The Economic Times Sebi says digital platforms not required to obtain SDP status
The Securities and Exchange Board of India (Sebi) has issued a clarification after queries have been raised in various news articles about the obligation of digital platforms to get recognition as a Specified Digital Platform.
The Economic Times LTIMindtree to invest $6 million in Voicing. AI startup
The investment will be made within seven days of the agreement and LTIMindtree USA Inc., would be entitled to acquire convertible instruments (which could convert to minority common stock) in Voicing. AI, subject to conditions as per definitive agreement, the IT company informed the stock exchanges.
The Economic Times Two arrested for GST evasion of 186cr
The case came to light when a search and seizure operation was conducted by SGST officials in Nov across Surat, Rajkot, Bharuch, Vapi, Junagadh and Bhavnagar. The operation targeted 14 companies, including Fortune Copper Industries and Infinity Exim. The scam allegedly led to a loss of Rs 34 crore to the exchequer.
The Economic Times Electronics manufacturing sparks supply chain reaction from India Inc, collaborates with Govt for global integration
Major Indian industrial houses are collaborating with the government to join the global electronics supply chain. Inspired by Tata's success with Apple, these companies aim to produce components and materials for electronics manufacturing. This initiative seeks to boost India's electronics production to $500 billion by 2030, with Apple serving as a key partner for many new entrants.
The Economic Times Mufin Green Finance targets ₹500 crore in solar financing by 2026
The company recently completed its first solar financing transaction, worth ₹3.25 crore, enabling the installation of a rooftop solar unit at a manufacturing facility in Baroda, Gujarat, for a $3 billion company.
The Economic Times Mahindra Finance joins hands with Magma HDI to expand insurance reach
Mahindra Finance has partnered with Magma HDI General Insurance to offer customised motor and non-motor insurance solutions, enhancing customer experience, financial security, and insurance accessibility across India.
The Economic Times India cenbank-spurred drop in premiums not helping rupee's cause, analysts say
The Reserve Bank of India's intervention in the forward market by selling dollars has lowered rupee premiums. This tactic aims to defend the rupee without depleting reserves, but it also makes importing cheaper and discourages exporter hedging, potentially increasing dollar demand and further weakening the rupee.
The Economic Times Nomura expects RBI to cut rates by 100 bps this cycle
Nomura forecasts the RBI will cut rates by 100 bps from December 2024. This surpasses the anticipated 50 bps cut. They've reduced India's FY'25 GDP growth forecast to 6 percent. This is lower than the consensus estimate of 6.9 percent and RBI's 7.2 percent projection. Nomura cites slowing growth and easing inflation. The RBI has held rates steady at 6.
The Economic Times Sebi notifies rules on uniform standards for nomination facilities across securities markets
Sebi has introduced new rules allowing nominees to manage securities for incapacitated investors. Participants must now offer beneficial owners the option to nominate someone to receive their securities upon death. These rules aim to improve investor convenience and standardize nomination processes across the securities market. The amended regulations took effect on November 28.
The Economic Times SEBI investigating role of merchant banker of cancelled Trafiksol ITS Technologies' IPO
The Securities and Exchange Board of India (SEBI) has initiated an investigation into the role of Ekadrisht Capital Private Limited, the sole book-running lead manager (merchant banker) for the now-cancelled IPO of Trafiksol ITS Technologies Ltd.
The Economic Times StanChart sets $200 billion new wealth assets target, focuses on Chinese and Indian wealthy
Standard Chartered plans to expand its wealth management business, targeting $200 billion in new assets and double-digit income growth over five years. The bank will focus on wealthy Chinese and Indian clients with offshore or cross-border needs, capitalizing on potential business shifts due to anticipated U.S. trade policies.
The Economic Times Godrej Capital launches Generative AI to enhance insights-driven customer engagements
Godrej Capital is utilizing Generative AI (GenAI) to enhance customer service, analyze interactions, and manage credit risk. Key initiatives include AI-driven quality checks, real-time data analysis, and the upcoming launch of the SAKSHAM-AI/ML platform for improved decision-making and service efficiency. These innovations aim to provide personalized, efficient, and secure financial solutions in the evolving financial services landscape.
The Economic Times Public investments in infra surpass pre-Covid level: Finmin
Infrastructure investments by the Union and state governments and Central Public Sector Enterprises touched 5.87% of GDP in 2023-24, higher than 5.03% in the previous year and 5.76% in the pre-pandemic year of 2019-20, minister of state for finance Pankaj Chaudhary said in a written reply.
