Page 3 - Finance Sector

Credit Suisse shares set to end losing streak on halted outflows

Credit Suisse rose as much as 6.9% in Zurich trading, putting the stock on course to end a record 13-day losing streak, as the comments calmed investors

Case studies on the Indian economy

Saurabh Kirpal's book is a useful guide to understanding the turns and twists of India's economic policy-making - from a relatively free enterprise environment to socialism to economic liberalisation

Reliance Capital COC rejects all bids, decides liquidation: Sources

The Committee of Creditors of Reliance Capital, in its meeting held on Wednesday, has decided to reject all the binding bids that it received from the bidders on Monday

Sebi launches investigation against finfluencer P R Sundar and his son

Sundar isn't registered with Sebi, has been giving options trading advice and training on his social media handles. He has a million subscribers on YouTube, 480,000 followers on Twitter

Retail CBDC pilot starts Dec 1, to be tested in 4 banks, 4 cities initially

RBI says digital rupee for retail segment will be in the form of a digital token that represents legal tender, to be issued in same denominations as paper currency and coins

Former Nykaa CFO Arvind Agarwal joins PayU India as chief financial officer

"We are excited to welcome Arvind to our leadership team," said Prosus-owned PayU India in a statement

Delhi HC grants bail to former YES Bank MD Kapoor in money laundering case

The Delhi High Court on Friday granted bail to former MD and CEO of YES Bank, Rana Kapoor, in a money laundering case being probed by the Enforcement Directorate. The order was pronounced by Justice Sudhir Kumar Jain on the bail application by Kapoor. The case pertains to Enforcement Directorate's probe against Gautam Thapar, Avantha Realty Ltd (ARL), Oyster Buildwell Pvt Ltd (OBPL), and several others alleging criminal breach of trust, cheating, criminal conspiracy, and forgery for diversion or misappropriation of public money during the 2017 to 2019 period. The agency had earlier told the trial court that the investigation revealed that approximately Rs 500 crore proceeds of crime were laundered through OBPL, Jhabua Power Limited (JPL), Jhabua Power Investment Ltd. (JPIL), Avantha Power and Infrastructure Ltd (APIL), ARL, etc. which were being controlled and beneficially owned directly or indirectly by Thapar. The trial court had, in October last year, taken cognizance of ED's ..

Auditors' timely red flag may have stopped many financial misdoings: NFRA

Many financial misdoings could have been detected and averted at an early stage if the auditors concerned had pointed out such instances to stakeholders in time, a top NFRA official has said. The National Financial Reporting Authority (NFRA) was set up in October 2018 and has more than 8,000 listed and other companies under its purview. "Not only in hindsight but otherwise also, I believe that had many of the violations that we observe in our proceedings been pointed out by the auditors to the shareholders and other stakeholders in time, many of the financial misdoings could have been detected and averted at an early stage," NFRA Chairperson Ajay Bhushan Prasad Pandey told PTI in an interview. He was responding to a query about corporate misdoings in the country over the years. In many cases, auditors have come under the regulatory scanner. The regulator has been taking measures to further strengthen the auditing system and processes. It has issued various audit quality review repo

FM urges independence of CAs to preserve integrity of financial statements

Says statutory filings and audit reports by CAs are public documents that multiple stakeholders rely on; urges adherence to fair and transparent practices

Despite regulatory uncertainties, investors betting big on Web3 startups

Money is pouring into a sector that is still evolving, despite regulatory uncertainties

Belt-tightening measures key to surviving pink slip, say experts

Cautious spending, reduced debt burden, and opting for gig work can help

Weak revenue, high capital outlays to keep States' debt at decadal high

The aggregate indebtedness of states, is expected to remain elevated at 30-31 per cent this fiscal, almost similar to 31.5 per cent of last fiscal, Crisil report said

Centre likely to raise authorised fund in NSFDC by Rs 1,000 crore

The Department of Social Justice, the nodal authority, has floated a draft cabinet note for inter-ministerial consultation

Bet on infrastructure funds to gain from government push: Experts

High cost of capital, change in policy key risks for these funds

Remarketing adoption in India jumps 50% during festival season: Study

Remarketing is a paid marketing tactic that allows users to serve ads to individuals who have previously visited a website or engaged with his (the user's) content on a social platform

Finance, tech transfer, capacity building on India's agenda for COP27

India will also seek clarity on loan availability, credit mechanisms and insurance requirements for adaptation finance

Vehicle finance sector to return to pre-Covid level by Q2 next fiscal: CIFC

Murugappa group's financial services unit says bad loans are down and it expects AUM to grow 25% this financial year

FM Sitharaman lists climate finance, crypto regulation as key G-20 agenda

Nirmala Sitharaman says India will push for the voice of developing and low-income nations

Musk's favourite crypto doubles in value, skeptics issue warning

Dogecoin's rally brings focus back on cryptocurrency regulations and decentralised finance networks

Carborundum Universal consolidated Q2 net dips 8% to Rs 94 cr, sales up 34%

Revenue spike driven by strong show in electro minerals and ceramics, and sales of Rs 141 crore by newly acquired subsidiaries