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See whats happening in CFO community right now
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Unleashing animal spirits
What will make CFOs borrow big and sign cheques for fresh capex? The government is pitching hard for manufacturing but the majority of the companies are going ahead mostly with working capital loans. What will make them invest heavily and push the capex cycle? What kinds of indications are CFOs waiting for?
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Govt to borrow Rs 7.5 lakh crore in H1FY25: Finance Ministry
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Pool of ‘unemployed CXOs’ grows as old firms refuse to match startup salaries
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Which sectors offer best prospects, work-life balance for CFOs?
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Hurun Billionaire list: How does India compare with China and the US?
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Fulcrum Digital appoints Sathish Raghunathan as CFO
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Services inflation to stay muted for now; but a pickup is not far away
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Adani Ports to buy 95% of Odisha's Gopalpur Port for $162 million
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RBI plans a special audit for breaches by IIFL Finance, JM Financial Products Ltd
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Mamaearth parent Honasa targets Gen Z users with cosmetic brand Staze
Honasa Consumer diversifies into colour cosmetics with Staze, targeting young consumers with affordable products. The company's strategic expansion aims to capture a share of the growing beauty market by introducing new brands and categories.
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Govt's gross liabilities rise to Rs 160.69 lakh crore at Dec-end: Finance Ministry
The finance ministry reported a slight increase in the total gross liabilities of the government to Rs 160.69 lakh crore by December 2023 from Rs 157.84 lakh crore in September. Public debt comprised 90 percent of total gross liabilities during this period. The quarter saw fluctuations in Indian domestic bond yields, influenced by factors like declining crude oil prices, lower-than-expected domestic CPI prints, and news about possible inclusion of Indian Government Bonds in a major global emerging market index.
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India can achieve 10 pc growth rate in next decade: RBI deputy guv
RBI Deputy Governor predicts India's economy to become the world's largest by 2050, driven by 10% growth rate. Challenges include increasing female labor participation and enhancing exports, with a focus on high-value tourism and financial services.
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Domestic startups come under income tax glare for their recent funding
Notices sent a few weeks ago to multiple startups by the I-T department asking for genuineness, credit worthiness of their investors. Post the notices were served, some startups have been asked to cough up taxes and penalties, if their submissions haven’t been adequate. The tax demands have been arrived at by clubbing the funding with the startup’s income.
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CBIC issues SOP for officials to prevent taxpayer harassment
The Central Board of Indirect Tax and Customs (CBIC) has approved a detailed standard operating procedure (SOP) for officials of the Directorate General of GST Intelligence (DGGI) to improve the ease of doing business and prevent harassment of taxpayers during tax investigations, summons, and searches.
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Byju's offers warring investors to participate in funding, secures 50% votes on rights issue
Byju Raveendran, founder and CEO of Byju's, said in a letter to shareholders that despite the “animosity shown by some of the investors in pursuing uncalled for legal actions”, the company continues to show ‘good faith’ towards all the shareholders and would like them to be part of the turnaround story.
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Amul summer product categories to grow by 40-50%
Amul India navigates cocoa price surge impact by passing on costs to consumers. However, as Amul is still a value for money brand, it would pinch the consumers. Partnerships with CAMPCO aid cocoa bean producers. Expansion into the US fresh milk market and focus on ice cream and beverage SKUs drive growth expectations of 45-50%.
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Tatas keeping a close eye on pledged shares as Shapoorji Pallonji goes on Rs 20,000-cr fundraise
"Indian lenders and their credit committees would need to evaluate whether their inability to transfer or sell the security in a default situation represents an acceptable risk," said one of the persons.
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Unleashing animal spirits
What will make CFOs borrow big and sign cheques for fresh capex? The government is pitching hard for manufacturing but the majority of the companies are going ahead mostly with working capital loans. What will make them invest heavily and push the capex cycle? What kinds of indications are CFOs waiting for?
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India can grow at 9% by implementing a few more reforms: Arvind Panagariya
The 16th Finance Commission chairman attributed India's progress to Prime Minister Narendra Modi's efforts in creating a conducive environment for businesses, leading to increased investments.
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Adani family invests another Rs 6,661 crore in Ambuja Cement
Adani family invests Rs 6,661 crore in Ambuja Cement, increasing stake to 66.7%. The fund infusion will be instrumental in increasing the capacity to 140 million tonnes per annum by 2028.
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Growing at closer to 18% per annum very possible for Federal Bank: Shyam Srinivasan
Shyam Srinivasan, MD & CEO of Federal Bank, projects 15-18% bank growth, emphasizes NIMs importance, foresees sustained deposit growth, and anticipates potential rate cuts in the future based on inflation outcomes. He says: "We have a reasonable presence now in the south. We are looking at increasing our presence in the west, in particular the bigger metros like Mumbai and adjacent cities."
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'Go First lenders yet to decide on bids, airline's revival likely to be delayed'
Both bidders had increased their bids earlier this month after initial scrutiny by lenders, necessitating an extension to complete negotiations, people familiar with the process said. "The committee of creditors (CoC) will meet either this week or early next week to finalise the extension of the timeline since a few more days will be needed to scrutinise and finally decide on the bids that are currently on the table," said a person aware of the process.
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More women running startups, on company boards: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman highlighted the increasing presence of women in startups and on company boards in India. Government schemes like Stand Up India and PM Mudra are empowering women entrepreneurs, with Swiggy recognizing and celebrating women's contributions to the F&B industry.
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RBI gives banks and NBFCs a breather on AIF investments
The RBI has said that provisioning will be required only to the extent of the RE's investment in the AIF scheme that is further invested in the debtor company, rather than on the entire investment in the AIF scheme.
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Nearly 78% employees in India experience job burnout, says UKG study
About 64% employees would readily accept a workload reduction for a commensurate pay cut, indicating that a majority of employees recognise the importance of a healthy work-life balance and are willing to prioritise it over financial gain. However, the study also shows that nearly 89 % of employees in India claim to be highly motivated by challenges and extra responsibility at work, while 76% believe that their work is more than just a ‘job’ to them and has a special meaning.
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RBI releases FY25 schedule for Monetary Policy Committee meetings
Wednesday's dates are for the next financial year, with meetings scheduled all the way till February, next year. The second meeting will be held from June 5-7 while the next meeting is scheduled between August 6-8.
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Indian Premium League: Premiumisation picks up pace for large consumer goods companies
More than 70% of the new products launched by India's largest consumer goods maker Hindustan Unilever in last two years were in the premium segment. Around 65% of all new personal care product launches were in the premium segment for ITC Ltd, doubling the contribution of such products to the division's sales in the last four years to 38%. For the largest biscuit maker Parle Products, around 60-65% of new launches were in the premium segment as compared to 40% pre-Covid.
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Pool of ‘unemployed CXOs’ grows as old firms refuse to match startup salaries
“There are a large number of unemployed CXOs in the startup ecosystem – many of them are currently jobless, because neither are they willing to take pay cuts nor are they able to land a job in a large company that find them overpriced,” said Mayank Kumar, cofounder of edtech major upGrad. “Inflated salary and CXO designations are the two main reasons coming in the way of getting them another job,” he added.
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Govt to borrow Rs 7.5 lakh crore in H1FY25: Finance Ministry
The government outlines an ambitious borrowing plan, aiming to secure Rs 7.50 lakh crore, over half its annual target for FY25, in the first half of the fiscal year, alongside strategic debt management measures.