ETCFO

Is IndusInd Bank out of the woods? IndusInd Bank shocked the street by posting its largest-ever quarterly loss of Rs 2,329 crore for Q4 FY25, attributing it to substantial accounting discrepancies and suspected internal fraud. These issues include misclassified fee income of Rs 172.58 crore over three quarters and incorrect internal derivative trade entries, leading to a total discrepancy of over Rs 2,600 crore. #Editorial BY: Amol Dethe, Editor, ETCFO Read full story here: https://cfo.economictimes.indiatimes.com/news/governance-risk-compliance/indusind-banks-shocking-fraud-what-lies-ahead/121351549?utm_source=top_story&utm_medium=homepage?ag=wappchnl&utm_source=wappchnl #IndusInd #governance #leadership #CFOIndia #Audit #accounting

Ex-NFRA chairman Sridharan backs tough regulatory stance, defends dual role amid legal battles Rangachari Sridharan, former chairman of NFRA, applauded the Delhi High Court's ruling upholding NFRA’s powers, while defending its strict regulatory approach. He said that accountability, not leniency, is key to strengthening India’s auditing sector. Sridharan also addressed concerns about NFRA’s dual role, explaining that when he led the authority with only two members (including himself), it was not feasible to separate functions due to logistical constraints. BY: Alekh Shah Read full story here: https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/ex-nfra-chairman-sridharan-backs-tough-regulatory-stance-defends-dual-role-amid-legal-battles/118403493?utm_source=top_story&utm_medium=homepage?ag=wappchnl&utm_source=wappchnl #NFRA #AUDIT #AUDITOR #GOVERNANCE #REQULATIONS #SC #CFOINDIA

Shaktikanta Das, former RBI Governor, appointed as Principal Secretary-2 to PM Modi. The 67-year-old ex-bureaucrat, who served six years at RBI, takes on the key role with his tenure co-terminus with the PM’s. A seasoned policymaker, Das previously led economic affairs, revenue, and India's G20 engagements. Read more at: https://cfo.economictimes.indiatimes.com/news/policy/former-rbi-guv-shaktikanta-das-appointed-principal-secretary-2-to-pm-modi/118482062?utm_source=copy&utm_medium=pshare

AI business models need a value check Banks and financial institutions are leveraging AI to analyse customers better and assess potential risks. Many mundane processes are already automated. But there are two big questions CXOs are facing now. First, how to extract business value and justify the ROI on AI. The second is how to find skilled people and how to retain them. #Editorial BY: Amol Dethe, Editor, ETCFO Read full story here: https://cfo.economictimes.indiatimes.com/news/cfo-tech/ai-business-models-need-a-value-check/118615110?utm_source=top_story&utm_medium=homepage?ag=wappchnl&utm_source=wappchnl #AI #innovation #tech #cfoindia #AIinFinance

Let Jobs Lead the Way Every company needs a clear vision for job creation over the next five years. India Inc need not look far for inspiration. It can take a cue from Vishal Sikka, who was ousted in a founders' coup from Infosys. Sikka had the foresight to invest in OpenAI in 2015, a decision that is paying rich dividends for Infosys now. #Editorial BY: Amol Dethe, Editor, ETCFO Read full story here: https://cfo.economictimes.indiatimes.com/news/economy/let-jobs-lead-the-way/118231438?utm_source=top_story&utm_medium=homepage?ag=wappchnl&utm_source=wappchnl #CFO #CFOINDIA #JOBS #JOBSININDIA #HIRING #EMPLOYMENT #INDIAINC #WORKFORCE

RBI Monetary Policy Committee cuts repo rate by 25 bps to 6.25% Under new Governor Sanjay Malhotra, the Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points to 6.25%, marking the first policy under his leadership and ending a pause that began in February 2023. This decision follows the RBI's last rate cut in May 2020, when the repo rate was slashed to 4% to support the economy during the COVID-19 lockdown. In addition to the rate cut, the RBI has revised its GDP growth forecast for FY26 to 6.7%, up from the previous estimate of 6.6%. The inflation projection for FY26 is set at 4.2%. Here are all the details. BY: Alekh Shah Read full story here: https://cfo.economictimes.indiatimes.com/news/policy/rbi-monetary-policy-committee-cuts-repo-rate-by-25-bps-to-6-25/117999849?utm_source=top_story&utm_medium=homepage?ag=wappchnl&utm_source=wappchnl #RBI #RBIPOLICY #GOVERNOR #MPC #REPORATE #RATECUT #CFOINDIA

Budget’s consumption gamble Inflation is very high and staple vegetable prices, which are part of the Indian government’s ‘thalinomics’, first mentioned in an earlier Economic Survey, have shot up significantly. On the other hand, the economy is not in great shape with GDP growth seen way below 7 percent for fiscal 2025 even by the optimistic forecasts. The National Statistics Organisation sees it at 6.4% while RBI predicts 6.6%. #Editorial BY: Amol Dethe, Editor, ETCFO Read full story here: https://cfo.economictimes.indiatimes.com/news/policy/budgets-consumption-gamble/117998562?utm_source=top_story&utm_medium=homepage?ag=wappchnl&utm_source=wappchnl

Explainer: How ICAI’s new LLP aggregation guidelines can reshape CA firm collaborations Recently, the ICAI issued the Aggregation of LLPs Guidelines, 2024, effective from January 23, 2025. These guidelines provide a framework for an LLP, Indian CA firm to partner with another LLP, fostering collaboration and strengthening operational capacity. How will these new regulations impact the profession? Who is eligible to participate? Let's dive in. BY: Alekh Shah Read full story here: https://cfo.economictimes.indiatimes.com/news/governance-risk-compliance/explainer-how-icais-new-llp-aggregation-guidelines-can-reshape-ca-firm-collaborations/117967147?utm_source=top_story&utm_medium=homepage?ag=wappchnl&utm_source=wappchnl #ICAI #CA #AUDIT #LLP #CAFIRMS #CFOINDIA

New Income Tax Bill: Experts push for simplification, faster dispute resolution and tech-driven reforms As the government prepares to introduce a new Income Tax Bill this week, experts are calling for sweeping reforms to simplify compliance, enhance tax certainty, and leverage technology. Key suggestions include streamlining TDS provisions, accelerating dispute resolution, and modernizing tax systems. BY: Alekh Shah Read full story here: https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/new-income-tax-bill-experts-push-for-simplification-faster-dispute-resolution-and-tech-driven-reforms/117900967?ag=wappchnl&utm_source=wappchnl #CFO #CFOINDIA #TAX #INCOMETAX #INCOMETAXBILL #COMPLIANCE #TECH #EODB #TDS #TCS

CFOs laud Union Budget’s consumption, business focus but concerned over low capex India Inc.'s top CFOs have largely praised the Union Budget 2025 for its focus on boosting consumption, simplifying taxation, and encouraging FDI, while also expressing concern over the lower capital expenditure. Can these reforms drive sustainable growth, or will fiscal constraints hinder progress? Here's what finance executives said. BY: Alekh Shah Read full story here: https://cfo.economictimes.indiatimes.com/news/policy/cfos-laud-union-budgets-consumption-business-focus-but-concerned-over-low-capex/117874085?utm_source=top_story&utm_medium=homepage?ag=wappchnl&utm_source=wappchnl #Budget2025 #CFO #IndiaInc #CFOIndia #consumption #capex