PMC’s results in FY19 show no issues with the bank, with net NPAs of 2.19% and capital adequacy ratio (CAR) of 12.62% — above the
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PMC case: ICAI to check role of auditors – The Economic Times
The suspended managing director of PMC Bank, Joy Thomas, has blamed the auditors for the mess at the bank, accusing them of only “superficially auditing”
No MAT credit, additional depreciation if you chose new lower tax rates – The Economic Times
The Central Board of Direct Taxes (CBDT) on Tuesday evening said that companies that opt for the new tax rate will lose out on the Minimum Alternate Tax (MAT)
PMC’s suspended MD Joy Thomas blames ‘superficial auditing’ for mess – The Economic Times
The suspended managing director of Punjab and Maharashtra Cooperative (PMC) Bank, Joy Thomas, has blamed the auditors for the mess at the bank, accusing them of
Corporate tax cut is a signal to structural reforms: CEA – The Economic Times
Describing the recent corporate tax cut as a signal to structural reforms, Chief Economic Advisor KV Subramanian on Wednesday said the government needs to focus
Insurance companies can no longer exclude many illnesses – The Economic Times
In a move that will benefit lakhs of policyholders, insurance companies have been barred from excluding illness associated with hazardous work activity, artificial life maintenance, treatment of
Resolution plans ready for all 302 entities: IL&FS – The Economic Times
The IL&FS board is targeting to achieve resolution for significant quantum of addressable debt by March 2020, the presentation said. A year after the crisis
How GST is hurting this set of Indian SMEs, global competitiveness lost – The Financial Express
By Abhishek A Rastogi and Pratyushprava Saha Trade, Imports, Exports for MSMEs: Small and medium enterprises (SMEs) acting as intermediaries or agents of businesses in India
Real interest rate dynamics: Who can help? | Business Standard Column
Availability and cost of funds are both key drivers of economic growth. The role of India’s financial sector in achieving the $5 trillion economy target
The way forward for public sector banks | Business Standard Column
A release from the Press Information Bureau on June 24, titled “Public Sector Banks”, had this to say on strengthening PSBs: “Over the last four
PMC crisis: Ex-MD reveals how six officials pulled off Rs 6,500 crore fraud at PMC Bank – The Economic Times
Thomas’ confession letter to RBI revealed that the bank’s exposure to bankrupt HDIL was pegged at Rs 6,500 crore, which is over 70% of the
GST revenue: GST collection slips below Rs 1 lakh crore mark to Rs 91,916 crore in September–Economic Times
The government has already transferred Rs 27,955 crore to the states in the form of compensation in June-July this year and Rs 17,789 crore in
Gross NPAs of banks may fall to 8% by March 2020: Report – The Economic Times
The Indian banking system’s stock of dud assets will further reduce to up to 8 per cent level by March 2020, but the NBFCs may
India Economic reforms | Nirmala Sitharaman’s fiscal boost a week leaves many questions still unanswered
By Vrishti Beniwal Finance Minister Nirmala Sitharaman has been announcing fiscal steps almost every week since August to help industries hit by the economy’s slowdown: from tax benefits
Ashok Leyland sales: Ashok Leyland domestic sales volume dips 57% in Sept
Chennai-based truckmaker Ashok LeylandNSE -4.00 % registered a steep reduction in domestic sales in September compared to the year-ago period, impacted by a slowdown in business over
One-third of Indian businesses hit hard by internal, external fraud: Report – The Economic Times
Nearly a third of Indian businesses experienced frauds by internal as well as external parties in the last 12 months, with data theft being the top most
MCA looking to set minimum threshold for homebuyers initiating insolvency – The Economic Times
The government needs to look at innovative ways, including minimum thresholds, to ensure that the insolvency resolution framework is not abused by homebuyers, a senior official
Due Diligence of a stressed asset still a challenge in IBC: Koushik Chatterjee, Tata Steel – The Economic Times
One of the first players to successfully acquire a stressed asset under the country’s historic bankruptcy law, Tata SteelNSE -2.48 %‘s CFO Koushik Chatterjee said that due diligence
Personal Insolvency regime to be operational in a year – The Hindu BusinessLine
The Government on Tuesday said that personal insolvency regime would be fully operational in India in one year from now. Debt recovery tribunals (DRTs) in
The RBI must bat for conversion of co-operative banks into more regulated entities – The Hindu BusinessLine
The RBI also needs to be more transparent about its strictures on co-operative banks Just as they were coming to terms with the bad loan
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