Neo banks, along with mid-sized banks, are establishing global capability centres (GCCs) in India, mirroring the expansion strategies of larger global counterparts. This trend is being seen as the next major wave in the country's banking, financial services, and insurance (BFSI) sector.
According to data analysed by KPMG, 2009 may see personal insolvencies reach record levels, with over 1,50,000 people entering into an individual voluntary arrangement, being declared bankrupt or entering into a debt relief order. IVAs enable an individual in financial distress to approach his creditors with a plan to restructure his debts. This typically involves the debtor making regular affordable monthly payments for a fixed period of time.
India has outpaced United Kingdom in financial services recruitments with organisations in the space hiring over 5,000 people last year, however, the country is facing a severe crunch of appropriate skills required, a latest KPMG study says.
The recovery in the job market is still miles away as more redundancies and fall in hiring intentions in the public sector are expected even though the economy has come out of recession, says a survey.
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
'If a stranger refuses to pet my Russian dog, what treatment can I expect for myself?'
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
Abramovich handed Chelsea director control of firm on day of Ukraine invasion - filings
Cars and two-wheelers attract 28% GST and a cess in the range of 3-22%, taking the effective tax rate to up to 50%.
Delhi Metro, Yamuna-expressway and Tata Power's Mundra ultra mega power project in Gujarat are among the six ventures that have figured in the list of world's most innovative, impactful infrastructure projects prepared by international accounting firm KPMG.
There is considerable speculation as to whether this award would have any bearing on another Vodafone-type case, namely, the ongoing tax-related arbitration proceedings with Cairn Energy.
Faced with prospect of its assets across the globe being seized just like Pakistan and Venezuela, the government decided to scrap retrospective taxation but the international embarrassment could have been avoided had 'attached' shares of Britain's Cairn Energy Plc not been sold, according to tax and legal experts. On Thursday, the government introduced a Bill in Parliament to scrap the tax rule that gave the tax department power to go 50 years back and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India. The 2012 legislation was used to levy a cumulative of Rs 1.10 lakh crore of tax on 17 entities, including UK telecom giant Vodafone, but substantial punitive action was taken only in the case of Cairn.
Aditi, Diksha, Tvesa to play at Ladies Scottish Open.
Several industry verticals such as food and beverage, education, fashion and tourism are leveraging their growth by franchising their products under various formats.
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The Companies Bill asked for promoting gender diversity by specifying induction of a minimum number of women directors
Organisations are focusing on how they are going to be much more nimble, much more innovative and that is the ticket to success, Mark Goodburn tells Sangeeta Tanwar
In their pre-budget expectations, they also asked the government to assess the option of developing unused airstrips located in various parts of the country to boost air connectivity.
With its free listing of goods and services, Facebook could disrupt the paid model adopted by classified players in the country, say Ayan Pramanik and Raghu Krishnan.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
Tata Sons has moved the Supreme Court against an estimated Rs 300-crore (Rs 3-billion) sales tax demand from the Maharashtra state government.
USL board said its second forensic audit by EY has revealed fund diversion worth Rs 1,225 cr to Mallya companies.
With over 45 healthcare facilities and over 300 vibrant diagnostic centres, Fortis is India's second-largest hospital chain -- next only to Apollo, which has 64 hospitals with 10,000 beds. Therefore, any international or domestic hospital chain that buys Fortis will simply catapult to the numero uno position.
Nets three more foreign brands for exclusive retailing, but the cost of the business model may be high, say experts.
Last Saturday, USL board asked its Chairman Vijay Mallya to quit.
The growth rate could continue for another seven years.
There are unprecedented political implications of identification based on 'biological attributes of an individual', such as employed by Aadhaar, warns Gopal Krishna.
The paper will invite comments on whether or not the royalty ceiling applicable till 2009 should be re-imposed.
Fraud is a big concern among many board members.
The drive against insider trading comes after SEBI last year received enhanced investigation powers from parliament, including the ability to monitor call records.
Seattle-based Amazon had considered debuting drone delivery services in Mumbai and Bangalore by Diwali this year
Inflow of more funds is likely to widen the reach of insurance and drive M&A activities in the sector where growth has stalled.
Key relaxations traced in final regulations.
After a two year run-in with controversies, telecom sector now looks stable and seems back on its feet with initial investment proposal of over Rs 11,000 crore (Rs 110 billion) received in 2013.
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