The National Financial Reporting Authority (NFRA) will invite public comments on the revised International Standard on Auditing 600 (ISA 600) proposed to be adopted by publicly listed companies and non-public-sector banks, sources close to the development told Business Standard. The decision to take this "graded approach" for the adoption of the ISA, which is meant to rein in auditors often found hiding behind the audit reports signed off by subsidiary companies, was taken at a meeting of various financial sector regulators at NFRA's board meeting on Monday (August 26). The idea behind upgrading the Standards of Audit 600 currently followed by Indian auditors to ISA 600 is to plug current gaps, which have led to major audit lapses in the recent past.
Institutional investments in Indian real estate are estimated to decline 37 per cent to $3.06 billion during the first half of this year on global economic uncertainties, according to JLL. Real estate consultant JLL India data showed that institutional investments in Indian real estate are likely to fall to $3.06 million in the January-June period this year as compared to $4.89 billion in the year-ago period.
Vice President V V Giri's resignation in 1969 triggered political upheavals that saw the ruling party defy its own presidential nominee, the expulsion of a sitting prime minister by her party president, and a historic split in the Indian National Congress, recounts Utkarsh Mishra.
India, the biggest contributor to world demand for oil, will bring into effect in an overhaul of its drilling policy. This comes after more than a year of preparation and will boost the exploration and development of India's oil and gas sector along with increased participation by foreign drillers
Indian engineer Soham Parekh, who was caught juggling multiple full-time Silicon Valley jobs, sparked both a viral meme storm and a fierce debate on remote work, ethics and startup hiring processes.
Despite sharp interest rate cuts expected in this financial year amid easy liquidity conditions, state-run banks are treading cautiously on their loan growth projections for FY26. Most large banks are projecting loan growth at 11-13 per cent, almost similar to the previous financial year.
By choosing your study destination carefully, leveraging government schemes, comparing loan options, and adopting frugal living practices, Indian students can acquire global credentials without mortgaging their futures.
After HPCL, the government headhunter struggled to find a suitable candidate for the top job at Bharat Petroleum, as most applicants were narrow specialists lacking multidisciplinary experience needed to run a large organisation. The Public Enterprise Selection Board (PESB) last month interviewed a dozen candidates including BPCL director (finance) Vetsa Ramakrishna Gupta and its director (refineries) S Khanna but found none suitable for the job of chairman and managing director of Bharat Petroleum Corporation Ltd (BPCL), according to a PESB order.
A grooming branch network for servicing HNIs is a stepping stone for a full-fledged wealth management business.
'The government is actively engaging with EU to ensure that concerns of Indian companies and hard-to-abate sectors are adequately addressed under CBAM'
'Trump is likely being purposefully vague, hoping that this lack of clarity will pressure India, fearing the worst, to agree to scale back its imports of Russian oil.'
Concerned over the rise in mis-selling of products by banks and non-banking financial companies (NBFCs), the Reserve Bank of India (RBI) is examining whether to come up with norms to curb such practices. Observing that pushing financial products, such as insurance, indiscriminately to unaware consumers may be detrimental to their well-being, RBI Deputy Governor M Rajeshwar Rao said, "We are examining whether it necessitates framing of guidelines to address mis-selling of financial products and services by REs (regulated entities)."
The Supreme Court has sought the assistance of the solicitor general of India in a plea that seeks job security for members of internal complaint committees (ICC) for sexual harassment at workplaces. The court recognized the importance of the plea and expressed concern over the lack of response from the Central government, despite issuing notice. The petitioners, Janaki Chaudhry and Olga Tellis, argue that ICC members in the private sector face a serious conflict of interest as they can be terminated without reason if a decision goes against the senior management. The petition highlights the vulnerability of ICC members to retaliation and the lack of protection they have compared to their counterparts in the public sector.
India's economy is likely to grow by 6.5 per cent in the current and the next financial year, an EY report said, attributing lower than anticipated expansion in the September quarter to fall in private consumption expenditure and gross fixed capital formation. Real GDP growth eased to a seven-quarter low of 5.4 per cent in July-September -- the second quarter of the current 2024-25 fiscal year.
Will Mamata's bhasha andolan campaign sway Bengal's bhadralok before the 2026 election in the TMC's favour?
Net profit of 19 listed banks is likely to decline by 4 per cent year-on-year (Y-o-Y) for the quarter ended March (Q4FY25) mainly due to pressure on net interest margins (NIM) as a result of rate cut by the Reserve Bank of India (RBI), according to analysts' estimates. Additionally, loan growth is expected to further slowdown amid low demand in certain secured products, stress in the unsecured segment, and a high cost to deposit (CD) ratio across the system.
'After the 2020 Bihar assembly polls when our party got only 43 seats and our ally the BJP got 73 seats, Nitish Kumar refused to become chief minister and assured the BJP that he will support the government led by anyone.' 'But the BJP's top leaders told Nitish Kumar that as the NDA contested the polls under his leadership, the next government will be headed by him.'
'You can imagine for India what Shuks means not just to the billions of people in India but the entire Indian diaspora around the world.'
'If you align your ambition with India's rise, the peak of your careers will unfold alongside the peak of India's power.'
Since April 4, around 35 importers in India have either not received any shipment of the magnets or have not been granted the import licences by China.
'Raising the entire amount in one go may not be prudent, given the market dynamics.'
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
Fresh plans of privatisation or divestment in central public sector enterprises and public sector banks might take a back seat this financial year because these may require a large consensus among coalition partners.
During his two-day Gujarat visit, PM Modi is scheduled to take part in public events in Dahod, Bhuj and Gandhinagar and inaugurate and lay the foundation stones for a series of development projects costing over Rs 82,950 crore, an official release stated.
The finance ministry is in favour of extending the August deadline for public sector banks (PSBs) as well as insurance companies to increase their minimum public shareholding (MPS) to the mandated 25 per cent, said a senior government official. "The election results will determine the course of action. "Most likely, those who did not receive an extension to meet the minimum shareholding norm will be granted one," the senior government official said.
Brazilian President Luiz Inacio Lula da Silva on Wednesday (local time) issued a firm response to United States President Donald Trump's announcement of a 50 per cent tariff on Brazil by invoking the country's 'Economic Reciprocity Law', while asserting Brazil's sovereignty and rejecting 'any form of tutelage' in what he described as Trump's attempts to interfere in the country's internal judicial affairs.
Reliance Industries (RIL), India's largest conglomerate, is set to pivot into a deeptech and advanced manufacturing enterprise, chairman and managing director (CMD) Mukesh Ambani said. "In artificial intelligence, our purpose is clear: to address complex societal challenges and create wealth for the nation and its people.
Prime Minister Narendra Modi on Friday sounded the poll bugle in Bihar, where assembly elections are due this year, calling for 'an NDA government, once again', which would protect the state from the 'evil intentions' of the Rashtriya Janata Dal-Congress combine.
The move is to align affordable housing finance flows to the increase in property costs and inflation, says Raghu Mohan.
Prime Minister Narendra Modi held a series of bilateral meetings with his global counterparts on the margins of the G7 Summit in Kananaskis, with discussions focusing on a range of issues such as trade, investment, counter-terrorism and global challenges.
