[ad_1] The Institute of Chartered Accountants of India (ICAI) will review fraud-hit IndusInd Bank’s financial statements for 2023-24 and 2024-25. The institute’s Financial Reporting Review Board (FRRB) will carry out the review. “It has been decided in the FRRB Board meeting today that FRRB of ICAI will undertake the review of the financial statements and…
[ad_1] Remittances have long played a quiet but crucial role in India’s external sector balance, but in terms of policy attention, they have often been overshadowed by indicators such as foreign direct investment (FDI) and trade flows. Yet the latest data from the Reserve Bank of India (RBI)’s Sixth Round of India’s Remittances Survey, released…
[ad_1] MUMBAI, May 27 (Reuters) – Indian government bond yields are expected to move sideways in early deals on Tuesday, as market participants await fresh triggers that include the nation’s growth data and the monetary policy decision due over the next few days. The yield on the new benchmark 10-year bond is expected to move…
[ad_1] Let us first look at the arguments that favour a rate cut. RBI made it clear in its last policy statement that a change in its stance to ‘accommodative’ is an indication of future rate cuts. Hence, the debate on whether such a stance meant there would be more liquidity rather than rate action…
[ad_1] On Friday last, the Reserve Bank of India (RBI) announced its decision to transfer a record surplus of nearly ₹2.7 trillion for 2024-25 to the Indian government’s coffers. The sum of ₹2,68,590.07 crore transferred is loosely referred to as the central bank’s ‘annual dividend,’ but since it is not a commerce entity, this is…
[ad_1] The Donald Trump administration proposes to levy a tax of 5% on outward remittances from the US by non-Americans. This is problematic on several counts. Not only is it regressive from a financial freedom point of view, such a tax smacks of discrimination, as it places one group above others in a matter where…
[ad_1] India on Tuesday reported a further dip in retail inflation to 3.16% in April, with the price level a year earlier as the base for this measure, compared with 3.34% in March. Last month’s reading is the lowest since July 2019 and the third consecutive month that it has stayed below the Reserve Bank…
[ad_1] Few come out smelling of roses from the Supreme Court (SC) ruling that annulled the takeover of Bhushan Power and Steel Ltd (BPSL) by Jindal Steel and Power Ltd (JSPL) and ordered BPSL’s liquidation, using the SC’s special powers to ensure “complete justice” under Article 142 of India’s Constitution. The successful bidder, JSPL, the…
[ad_1] The reasons are quite clear. First, RBI changed its stance in its last policy statement to ‘accommodative.’ It also issued a clarification of its stance nomenclature, saying that the shift could mean a further lowering of policy rates. Second, liquidity has been provided on a near real-time basis by RBI to ensure that the…
[ad_1] History has a strange way of playing out old patterns in new forms by taking into account exigencies of the time. India and the UK concluded talks on a free trade agreement (FTA) on 6 May. Historically, the relationship between both countries has been predicated on trade, with the passage of time determining the…
