Alekh Shah
Correspondent | ET CFO-
Tomorrow's success hinges on CFO's ability to anticipate and leverage opportunities, says Kaushik Sarkar, Bosch Global Software Tech
Kaushik Sarkar, CFO at Bosch Global Software Technologies, highlights how technology is reshaping CFO roles, making them vital strategic advisors. He emphasizes their crucial role in navigating today's complexities and preparing for tomorrow's challenges to drive sustainable growth.
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Ransomware attacks at India Inc down to 64%, yet costs soar: Report
A recent report by Sophos unveils a decline in ransomware attacks on Indian companies, down to 64%. However, higher ransom demands and a shift in recovery tactics pose intensified challenges.
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Zomato subsidiaries' auditor resigns, Deloitte Haskins & Sells to take charge
Zomato's auditor resigns, clearing the path for Deloitte Haskins & Sells LLP's appointment, aiming to streamline audit processes and enhance efficiency, aligning with the holding company's management objectives.
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Shiprocket planning for IPO, confirms CFO Tanmay Kumar
Shiprocket, a leading e-commerce facilitator, is poised for an IPO, confirms CFO Tanmay Kumar. With ambitions to empower small merchants and ensure lasting business, Shiprocket keeps IPO timing undisclosed.
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Digital transformation and talent upskilling top priorities for FY25, says KRBL CFO
Amidst shifting consumer behaviors and evolving market landscapes, Ashish Jain, CFO of KRBL, unveils a strategic roadmap for FY25, prioritizing digital transformation, talent development, and robust growth projections.
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India's manufacturing sector stays strong despite slight dip in April PMI to 58.8
Despite a slight dip in April, India's manufacturing sector, as per HSBC's PMI report, maintains robust growth. Buoyed by sustained demand, manufacturers exhibit resilience amidst escalating costs and optimistic outlook.
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GST collections hit all-time high of Rs 2.10 lakh crore in April 2024
India's Gross Goods and Services Tax (GST) collections have reached a historic milestone, surpassing the Rs 2 lakh crore mark for the first time since the inception of GST in July 2017.
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India Inc's revenue growth likely moderated to 4-6% in March quarter, weakest since September 2021
India Inc navigates a moderate growth trajectory with a 4-6 per cent revenue increase in the January-March quarter, as revealed by a recent Crisil report. While consumer discretionary sectors drive growth, margin expansion underscores a corporate focus on profitability amidst evolving market dynamics.
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NFRA debars Reliance Home Finance's audit engagement partner for five years for professional misconduct
NFRA's crackdown on auditing irregularities at Reliance Home Finance Limited (RHFL) for FY 2018-19 resulted in significant penalties and debarments for professionals. This action follows suspected fraud and lapses in auditing standards, highlighting the need for stringent oversight in financial reporting.
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India requires 30 lakh CAs for $30 trillion economy by 2047, says ICAI President
ICAI President Ranjeet Kumar Agarwal projects a surge in demand for chartered accountants, supporting India's aim of a $30 trillion economy by 2047. He also emphasizes on the pivotal role of digitalization and the institute's initiatives for skill enhancement and global alignment with mutual recognition agreements.
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U GRO Capital CFO calls for new NBFC category to boost MSME financing
U GRO Capital's CFO, Kishore Lodha, suggests a distinct NBFC category for MSMEs to address their financial needs effectively. The CFO also highlighted the company's commitment to sustainability, emphasising growth strategies, including impact assessments and innovative financing solutions like rooftop solar and water sanitation.
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Over half of India's top 100 listed companies voluntarily disclose Scope 3 data in BRSR, says PwC India
Indian firms prioritize ESG reporting, with 51 per cent disclosing Scope 3 emissions. Key findings include 89 per cent disclosing leadership indicators and 31 per cent revealing net-zero targets, as per the PwC India report.
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NFRA's order reveal multiple lapses by Pathak HD & Associates in Reliance Capital audit; debars audit partners
NFRA penalizes auditors of Reliance Capital for oversight failures flagged by Price Waterhouse, imposing bans and fines in response to suspected fraud, revealing gaps in financial oversight.
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At 4.85%, India's retail inflation eases to five-month low in March
In March, India's retail inflation reached a five-month low of 4.85 per cent, attributed to reduced food prices, according to the Ministry of Statistics & Programme Implementation (MOSPI). The CPI Food index fell to 8.52 per cent, while industrial production rose by 5.7 per cent in February 2024.
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CFO becoming tech savvy, collaborating with CIOs, says industry experts
At the ETCFO Leadership Summit 2024, Raghupati Mishra, CFO of a leading Steel Group ; Kiran Komatla, Group CTO at Restaurant Brands Asia; Vishal Haikerwal, Digital Transformation Evangelist at Oracle India; and CM Grover, MD & CEO at IBSFINtech - The TreasuryTech Company dissected the intricacies of collaboration and its role in driving organisational growth and innovation in a panel discussion moderated by Alekh Shah.
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Mahindra Finance targets portfolio diversification in new age business models: CFO
Mahindra Finance is actively diversifying its portfolio to lessen dependence on vehicle financing, as emphasized by CFO Vivek Karve. The CFO highlights prioritizing growth, profitability, and asset quality.
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Record GST collection reflects India's economic strength and mature GST ecosystem: ICAI President
ICAI President, Ranjeet Kumar Agarwal, praises record GST collection surpassing Rs 20 lakh crore for FY 2023-24, highlighting better compliance and economic growth.
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RBI Monetary Policy Committee keeps repo rate unchanged at 6.5%, forecasts 7% GDP growth and 4.5% Inflation for FY25
This marks the seventh consecutive time that the MPC has maintained the policy repo rate at 6.50 per cent. The last adjustment to this rate, when it was increased from 6.25 per cent to 6.50 per cent, occurred on February 8,2023.
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India's services sector peaks at 13-year high in March driven by strong demand
In a recent report by S&P Global, findings revealed that the seasonally adjusted HSBC India Services Business Activity Index indicated a remarkable surge, marking one of the strongest growth rates witnessed in over 13-and-a-half years. This upturn has been predominantly attributed to robust demand conditions, enhanced efficiency gains, and positive sales developments.
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GST collection surges to Rs 20.14 lakh crore in FY24, marking an 11.7% increase
India's FY 2023-24 GST collection crosses Rs 20.14 lakh crore, up by 11.7 per cent. March 2024 witnesses a significant surge, hitting Rs 1.78 lakh crore, marking the second-highest monthly collection.
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