IndusInd continues to face headwinds. Now in a public disclosure it has informed to have found discrepancies in certain account balances related to its derivative transactions. Internal review was conducted in response to RBI’s September 2023 directions on investment portfolios for lenders, focusing on their ‘Other Asset and Other Liability’ accounts. The estimated impact is … Read more
As against the requested tenure extension of 3 years, RBI has only granted a one year extension to Sumant Kathpalia as MD & CEO of IndusInd Bank. Bank had sent the request to RBI in September 2024 for 3 years. RBI has given the approval for one year from March 24, 2025 till March 23, … Read more
Finance minister Nirmala Sitharaman said India is close to taking a final call on reducing goods and services tax (GST) rates further and reviewing the levy’s slabs. The revenue neutral rate had dropped from 15.8% when GST was introduced in 2017, to 11.4% by 2023, she said at the 25th ET Awards for Corporate Excellence … Read more
India’s services sector activity witnessed a sharp uptick in February boosted by improving domestic and international demand, which resulted in a quicker expansion in output and a substantial increase in employment, a monthly survey said on Wednesday (March 5, 2025). The seasonally adjusted HSBC India Services PMI Business Activity Index rose from January’s 26-month low … Read more
An emerging movement against Tesla and its CEO Elon Musk has heated up, prompting protests at showrooms throughout the US and Europe, as per a report. Tesla takedown The movement, called “Tesla Takedown,” is urging consumers to shed their Teslas and sell their shares, aiming at Musk’s strong relationships with the Trump administration’s radical government … Read more
During his hours long speech, US President Donald Trump said he has received a letter from the Ukrainian President Volodymyr Zelensky, just days after he was publicly criticized him and US aid to Ukraine was suspended. Zelensky, in his letter, expressed a willingness to negotiate a minerals deal that could greatly benefit both nations. The … Read more
CARE has got feedback from Gensol’s lenders that there have been delays in the servicing of term loan obligation and hence the downgrade from BB+ to D. Company had an outstanding debt of Rs 1,150 cr as at December 31, 2024. It had negative operating cash flows during FY 24. During the current year, the … Read more
As is typical of many new age startups, one more notice for violations. The Enforcement Directorate (ED) has issued a show-cause notice to the parent company and two subsidiary companies of Paytm for allegedly violating provisions of the Foreign Exchange Management Act (FEMA). Notice is to the parent One 97 Communication limited (OCL), it’s managing … Read more
Premiumisation in liquor is an ongoing trend in the Indian market. Encouraged by the same, Radico’s MD Abhishek Khaitan has shared the following. Target of Rs 500 cr of revenues from it’s luxury brands in FY 26 During 9 months ended December 31, 2024, it stood at Rs 250 cr and during Q3 itself it … Read more