Banks draw attention of Govt, RBI to ATM shortage, CFO News, ETCFO

Banks have sounded out the government and the banking regulator Reserve Bank about shortage in supply of automated teller machines (ATMs) while making a case for clarity in norms for procurement via the government e-marketplace, or GeM portal, people familiar with the matter said. Leading bankers had flagged the issue in a meeting with officials … Read more

What India Inc expects from Nirmala Sitharaman in July’s full Budget, ETCFO

Budget expectations: Finance Minister Nirmala Sitharaman will begin consultations on Wednesday, ahead of the new government’s first full budget, to be presented in July. India Inc has suggested a host of reforms, including medium-term ones, to catapult the economy to a higher growth trajectory, spur employment creation, trigger private investments and preserve macro stability. A … Read more

CCI approves Godrej family settlement proposals, ETCFO

The Competition Commission of India (CCI) has cleared the proposed realignment of interests, legal ownership and management of various entities within the Godrej group, the antitrust regulator said on Tuesday. The proposed combination follows an “inter-se arrangement between the members of the family branches, that is Adi Godrej and family, Nadir Godrej and family, Jamshyd … Read more

First NFRA annual report on eight audit firms by November, CFO News, ETCFO

The National Financial Reporting Authority (NFRA) will wrap up its first annual inspection of eight audit firms – including the Big Five – and reveal its findings by October or November, people aware of the auditing regulator’s plans said. The inspection, focused on the processes and standards adopted by auditors, could reveal how NFRA plans … Read more

India poised for strong growth; but no room for complacency: Shaktikanta Das, ETCFO

“Markets keep changing. International developments keep happening. There could be surprises. So, one has to be very alert and agile at all times and try to sort of see, watch the developments in every corner of our own economy and also what is happening all around because things can sort of turn, it takes very … Read more

Law committee recommends amendment to CGST law to quash retro tax notice, ETCFO

The law committee under the goods and services tax (GST) council has recommended an amendment to GST act to raise tax notices where the low tax was paid due to interpretation of law or lack of clarity, ET has learnt. The recommendation, if approved by the council may give relief to a large number of … Read more

Retro tax demand on online gaming companies may be quashed, ETCFO

In what could bring relief to the online gaming sector, a key panel under the goods and services tax council has mooted amendment to the GST Act to quash retrospective tax demands. The GST Council at its upcoming meeting on June 22 could take a call on the recommendation. As per the recommendation tax notices … Read more

Adani reviews impact of Modi era on India’s growth after 1991-2014 reform runway, ETCFO

India‘s infrastructure story has been about foundations being laid between 1991-2014 and then the eventual take-off in the last decade, Adani Group chairman Gautam Adani said at an event on Wednesday. “If the period between 1991 and 2014 was about putting down the foundations and building the runway the period from 2014 to 2024 has … Read more

India Inc raises concerns over draft Digital Competition Bill, ETCFO

India Inc on Tuesday raised its concerns over the draft Digital Competition Bill 2024 in a meeting chaired by MeitY Secretary S Krishnan. The meeting, earlier scheduled for June 13 but postponed at the last moment, also saw participation from representatives of the Competition Commission of India and the Ministry of Corporate Affairs. Internet and … Read more