E India CA

Professional Updates for Chartered Accountants

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RBI audit of IL&FS group makes independent directors jittery

MUMBAI: The Reserve Bank of India (RBI) has recently concluded an audit of IL&FS and may send notices to the company’s board and management if lapses found, two people with direct knowledge of the matter said. Though the results of the audit are not known, independent directors in some of the IL&FS group companies are se...

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Opinion | Don’t cry for India? A central bank’s lament

Long-simmering discord between the Indian central bank and the government is turning into a very public brawl. The timing couldn’t be more awful for markets. In a hard-hitting speech on Friday on central-bank independence, Reserve Bank of India Deputy Governor Viral Acharya startled his audience by invoking Argentina of 2010. B...

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What RBI norms on PPIs mean for e-wallets, users

With the Reserve Bank of India (RBI) releasing operational guidelines on interoperability of prepaid payment instruments (PPIs) on Tuesday, mobile wallet users will soon be able to transfer funds from one wallet to another. Mint analyses how the rules will impact wallet firms, users. What does interoperability of PPIs mean? Inter...

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RBI opens banking tap to ease liquidity crunch at NBFCs

The Reserve Bank of India (RBI) on Friday incentivized bank lending to non-banking financial companies (NBFCs) by easing liquidity norms and increasing the ceiling for lending to a single NBFC until 31 December. The central bank allowed banks to use government securities as level 1 high quality liquid asset (HQLA) equivalent to th...

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NBFCs brace for tighter regulation after ILFS default

RBI last week warned stricter regulations are in the offing to ward off default risks rising from the so-called asset liability mismatch The fastest pace of growth since 2013 at India’s non-bank financiers is about to come to a grinding halt. A spate of money market defaults by Infrastructure Leasing & Financial Services Ltd. ...

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Yes Bank chairman Ashok Chawla looks to restore investor confidence

Mumbai: Yes Bank chairman Ashok Chawla has written to employees asking them to go beyond their assigned roles to clarify retail investors’ doubts and build a deeper relationship with every borrower. Chawla’s letter comes after the Reserve Bank of India (RBI) cut short managing director Rana Kapoor’s term to 31 January. Stock...

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Wait! Don’t sell your debt mutual fund investments. You might get better returns next year

For some time now, returns from bond funds have been muted, particularly long duration funds. On top of it, due to incidents of the recent past, there are concerns on the credit risk aspect of debt funds. Investors are concerned about what should be done now. The advice is, unless there is a cash flow requirement, there is no urgency...

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Rupee gains against dollar as govt hikes import duties

The Indian rupee on Thursday strengthened against the US dollar after the government increased tariffs on imported goods to narrow current account deficit. At 9.15am, the rupee was trading at 72.40 a dollar, up 0.30% from its Wednesday’s close of 72.62. The home currency opened at 72.41 per dollar. The 10-year gilt yield stood at 8...