In what comes as a major setback for the Reserve Bank of India, the Supreme Court has declared the central bank's bad loan resolution framework which came into effect from February 12, 2018 as unconstitutional. This has come to be known as the 'Feb 12 Circular'.
The deadline for payment companies to comply with RBI's data localisation norms ends. In April this year, the central bank directed all payment companies to set up a local ecosystem in order to store transaction data of Indian citizens in India.
At the recent Global Mobility Summit, Prime Minister Modi outlined his vision for India based on the Seven Cs principles that’s common, connected, convenient, congestion-free, charged, clean and cutting edge.
Almost two years after demonetisation which saw the government demonetise Rs 1,000 and Rs 500 notes to curb black money ostensibly, however, RBI's 2017 annual report released states that over 99 percent of the banned currency has returned to the banking system.
India is expected to become the world's third largest consumer economy reaching $400 billion in consumption by 2025. India's organised retail sector now accounts for 10 percent of the country's GDP and over 8 percent of its employment.
A high level panel led by justice BN Srikrishna has submitted its recommendations on the data protection framework to the government. The 67-page report is overarching in its scope as it deals with how companies and the government should handle personal data. It also defines what qualifies as personal data.
At a time when concerns over data privacy are growing across the world and the European General Data Protection Regulation better known by its acronym, the GDPR, has set a new standard for data collection, storage and usage for companies operating in Europe, India continues its quest towards creating a fool-proof data protection framework.
Staring at a record USD 145 billion in stressed loans in FY18, the Indian banking sector is facing a crisis of confidence in capital forcing the government and the regulator to go back to the drawing board to find a solution.
India is one of the fastest growing economies in the world and has emerged as the top FDI destination. A large consumer base, growing disposable incomes and the improvement in the ease of doing business are key drivers for the emerging global preference for investing in India.
Organisations are increasingly using digital technology to change the way they do business. Increased connectivity means a heightened exposure to fraud, corruption and other risks. EY, in its biennial global fraud survey of 2,550 companies across 55 countries attempted to gauge fraud across businesses. The findings are interesting to say the least.
Companies that collect data from citizens in the European Union will now need to comply with new rules protecting customer data starting May 25. The European Parliament adopted General Data Protection Regulation (GDPR) in April, 2016. It replaced an outdated data protection directive that was in existence since 1995.
India's focus on renewable energy is paying off. We added 10000 megawatts of solar capacity in 2017-18, almost twice the increase we saw in the previous year. Solar tariffs have hit a record low of Rs 2.44 per unit making it comparable to thermal power. Shereen Bhan catches up with experts to find what needs to be done to keep the momentum going.
As the government readies to roll out this game changer scheme, it is time for a status check on design & blueprint of the National Health Protection Scheme and the 1.5 lakh wellness centres that the government plans to set up as part of this mission.
Almost a week after the Rs 11400 crore rupee fraud at the Punjab National Bank (PNB) came to light, the Finance Minister has broken his silence. Speaking at an event in Delhi, Arun Jaitley held the management of the bank, auditors and the regulator Reserve Bank of India (RBI) responsible for the fraud allegedly perpetrated by Nirav Modi and his associate companies. CNBC-TV18's Shereen Bhan caught up with experts to find what went wrong and what could have been done better.
In an interview with CNBC-TV18, VS Parthasarathy, Group CFO, Mahindra & Mahindra (M&M), Sudhir Kapadia, Partner and National Tax Leader, EY India and Pinaki-Ranjan Mishra, Partner and National Leader, Consumer Products and Retail at EY India discussed the real impact of the Budget on the life of the ordinary consumer as well as if this focus on rural wages and jobs growth is likely to give the much-needed boost to the rural economy.
With the Union Budget just around the corner, we continue to focus on the expectations of India Inc from Finance Minister, Arun Jaitley. Over the last month, EY India surveyed 150 CFOs, tax heads and senior finance professionals to get their wish list for Budget 2018. What are the industry's specific demands this time around?
CNBC-TV18's Shereen Bhan caught up with Sangramjit Sarangi, CFO, SBI Life, Amishi Kapadia, Senior President & Head Merchant Banking, Yes Securities and Sandip K Khetan, Partner, EY, to find what's in store for IPOs in 2018? And what are the keys to a successful IPO?
2017 has been a mixed year for mergers and acquisitions in India. On one hand, we saw private equity deals surging to their highest ever, but on the hand, we witnessed a 30 percent slow down in M&A activity across the board.
CNBC-TV18's Shereen Bhan, caught up with R Chandrashekhar President, NASSCOM, Darlie O Koshy DG, Member, FICCI, Anurag Malik Partner - People & Organization, Advisory Services, EY and Arunkumar Pillai Partner Skill Development, Government and Public Services, EY to discuss the future readiness of India's workforce.
Watch Mark Weinberger, Global Chairman & CEO of EY talk about the United States' plan to reduce corporate tax rate. Weinberger expressed confidence that the tax cuts, which are expected to be introduced by the end of 2017, will make USA an attractive investment destination.
Four months after GST rollout, we are starting to see some green shoots after a mega overhaul last week where the GST council slashed the taxes on nearly 200 items. However, what's even more encouraging is that the revenue collections are starting to pick-up and the shortfall is gradually reducing. CNBC-TV18's Shereen Bhan caught up with experts to discuss the collection numbers.
CNBC-TV18’s Shereen Bhan is moderating a panel for Eye on India with eminent panellists, SC Garg, Economic Affairs Secretary and TN Ninan of Business Standard. They discussed about mega recapitalisation plan for public sector undertaking (PSU) banks and about India's economic future.
The next GST council meeting on October 6th has its task cut out and it is time to address the gaps in the landmark Goods and Services Tax. Exporters are complaining of blockages of working capital as refunds are getting delayed. CNBC-TV18's Shereen Bhan caught up with experts to find whether these moves are enough to calm the nerves of the lakhs of taxpayers who are running short of cash to run their business?
Keeping in mind the Centres push for electric vehicles, CNBC-TV18's Shereen Bhan caught up with experts to understand the challenges and opportunities a policy move like this bring and also analyse the preparedness of automakers and India's race to become the world's third largest car market by 2030.
Watch the interview of Abizer Diwanji Partner & National Leader Financial & Restructuring Services, EY India and Sumant Batra Insolvency Lawyer with CNBC-TV18's Manisha Natarajan where they spoke about the Insolvency code.
At the last count, the government has collected as much as Rs 42,000 crore in the first filing under the goods and services tax. This number is expected to increase as more returns are filed in the next two days. The last date of filing returns is now August 25.
In an interview to CNBC-TV18's Shereen Bhan, Mahender Singh, Member-GST, CBEC, Navin Kumar, Chairman of GSTN and Harishanker Subramaniam, Partner & National Leader - Indirect Tax at EY India spoke about the August 5 meeting of the GST and what it will mean going ahead.
After over a decade of back and forth, the goods and services tax became a reality on the July 1. India's biggest tax reform since independence subsumed more than a dozen taxes in the country. We are nearing the one month milestone of the GST rollout and today we take stock of the hits and misses in this first month.
Watch a panel of industry leaders, legal expert, and EY specialist discuss the Insolvency and Bankruptcy Code as they provide different perspectives on the nuances of the law, practical challenges in implementation and its impact on Indian businesses
We are just hours away from the much awaited GST rollout, but is India Inc prepared for the transition? Are companies across the country GST compliant? To discuss this we were joined by Vivek Karve, CFO of Marico and Harishanker Subramaniam, National Leader of Indirect Tax at EY.