Wed.Jan 01, 2025

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2024: A year of farewells, separation, failed union, M&As for corporate India

CFO News

Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024. In between the cycle of quarterly results and the chase for growth amid dynamic market conditions, India's industry leaders reinforced their belief in the country as the best-placed nation in the world for future growth.

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Using A 1035 Exchange To Turn An Unneeded Life Insurance Policy Into An Annuity

Nerd's Eye View

Occasionally, an owner of a permanent life insurance policy may decide that they no longer need their policy – either because the death benefit is no longer necessary or because they simply want to access the policy's underlying cash value for their living expenses in retirement. Unlike term life insurance, permanent life insurance doesn't simply lapse when the owner stops paying premiums.

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Tamil Nadu govt cancels smart meter tender awarded to Adani Energy Solutions

CFO News

Tamil Nadu Power Distribution Corporation cancelled a global tender for smart meters due to high costs quoted by the lowest bidder, Adani Energy Solutions Ltd. This follows allegations of Adani Group's involvement in a USD 250 million bribery for solar contracts, which the company denies.

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Understanding AI agents for the organisation

Future CFO

Kathy Pham , vice president of Artificial Intelligence at Workday , discusses what AI agents are and their transformative impact on enterprise and organisations. Pham explains how these intelligent systems can automate tasks, personalise experiences, and revolutionise business processes to unleash full potential to drive value. First published on Youtube.

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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GST collection grows 7.3% Y-o-Y in December at Rs 1.77 Lakh crore, but slips sequentially

CFO News

GST collections for the month of December grew 7.3 per cent year-on-year at Rs 1.77 Lakh Crore witnessing a dip compared to Rs 1.82 Lakh Crore in November 2024. Maharashtra recorded the highest GST collections among all states, registering Rs 29,260 crore, a 9 per cent year-on-year increase compared to December 2023.

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Healthy growth set to return this fiscal; rate cut likely sooner

CFO News

India is set to navigate various economic challenges and geopolitical tensions to maintain its status as the fastest-growing major economy. Despite a recent dip in growth, strong macroeconomic fundamentals and anticipated policy measures from both the government and RBI suggest an optimistic outlook for 2025.

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Domination of Dwarfs: Why India’s SMEs remain dwarfs? Exploring the economic puzzle?

CFO News

Indias economic potential hinges on its ability to transform its vast base of small enterprises into dynamic, growth-oriented firms. By addressing the structural and policy barriers perpetuating the dwarf syndrome, India can unlock a new wave of inclusive and sustainable economic growth.

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India's manufacturing PMI slows to 56.4 in December amid softening demand

CFO News

India's manufacturing sector, though still in growth territory, showed signs of slowing momentum in December, with softening demand and moderating new orders. The HSBC final Manufacturing PMI indicates potential challenges ahead, suggesting a less optimistic outlook for early 2025.

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Outlook 2025: India’s economic growth may face US policy, fiscal strain headwinds, say experts

CFO News

Indias economic outlook for 2025 is fraught with risks, as economists point to external challenges, including US policy shifts, and domestic issues like fiscal constraints, job creation, and monsoon performance that could significantly impact growth and stability.

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Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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Steelmakers may cut down on Capex amid price slump

CFO News

Steelmakers in India are expected to reduce their capital expenditure plans in 2025 due to declining steel prices, impacted by increased imports from China. This downturn has resulted in reduced profitability and cash flows, affecting expansion efforts as domestic steel consumption grows. Flat steel product prices are particularly hit, leading to cautious investment strategies.

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Navigating 2025: Economic resilience, sectoral opportunities, and transformative power of AI

CFO News

The 2025 outlook is cautiously optimistic. Despite ongoing global challenges, growth prospects, especially in the year's second half, offer hope. In 2024, uneven growth was impacted by high interest rates, supply chain disruptions, and geopolitical tensions.

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Education loan companies Credila, Avanse gear up for IPOs

CFO News

Credila Financial Services and Avanse are set to launch IPOs, aiming to raise Rs 5,000 crore and Rs 3,500 crore respectively. Both companies are pioneers in the education loan sector, managing over Rs 60,000 crore in loans, addressing the increasing need for education financing in India.

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B2B infra, AI and DPI plans are brewing at 2025-ready fintech

CFO News

Heading into 2025, the fintech sector is expected to emphasise B2B infrastructure solutions, AI-driven compliance automation, and secured credit products. Despite a slowdown in consumer lending, venture investors are eyeing business lending and digital public infrastructure innovations, with AI increasing efficiency in compliance and fraud detection.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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ICEA bats for cut in duties on parts, components to spur electronics manufacturing

CFO News

The India Cellular and Electronics Association (ICEA) is advocating for the reduction of duties on parts and components and a simplified tariff structure to enhance India's competitiveness. ICEA suggests eliminating the 2.5% duty on specific parts and inputs and restructuring tariffs into '3+1 slabs' to boost manufacturing and export potential.

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Loan against gold on rise, RBI raised concerns over irregular practices involved in gold loans

CFO News

The Gold loans in the country has registered strong growth recently says a report by Reserve Bank of India.

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FPIs bow to IPO allure, but walk out of secondary markets

CFO News

Given the sustained flow of companies filing draft red herring prospectus (DRHPs) with the markets regulator as a part of the IPO launch process, the domestic primary market is likely to remain a major route of equity investment for foreign investors in 2025 as well.

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Investors queue up for more quick commerce startups with special focus

CFO News

Swish raising funds; former Dunzo executives have quick commerce plans, including enabler Kuik. Industry executives are of the view that while food and fashion are the big interest areas, pharmacy will soon emerge as a major quick commerce vertical.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.

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Hero MotoCorp gets additional tax demand of Rs 26.4 cr

CFO News

Hero MotoCorp Ltd received an additional tax demand of Rs 26.40 crore from the Income Tax Department for the assessment year 2020-21. The company is examining the order and may file an appeal. Hero MotoCorp believes the demand is unsustainable and unlikely to impact its financial performance or operations significantly.

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Voucher transactions not liable to GST: CBIC

CFO News

India's CBIC clarified transactions involving vouchers do not constitute supply of goods or services and are not liable to GST. GST will only apply to additional services such as marketing or commission-based distribution. Unredeemed vouchers are also not taxable. CBIC also issued clarifications on Input Tax Credit (ITC) for Ex-Works Contracts and e-commerce operators.

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MCA asks cost auditors to tap AI to better detect inefficiency

CFO News

The corporate affairs ministry has directed cost auditors to focus on potential risk areas, assess cost inefficiencies' impact on financial health, and utilize AI to identify unnoticed patterns or anomalies. Cost records are essential for tax calculations, funding for government projects, and official subsidies and incentives.

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PLI schemes driving manufacturing sector to new heights, reshaping industries

CFO News

The development of plug-and-play industrial parks in over 100 cities has also attracted significant investments, making India a more attractive destination for industrial growth.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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Reliance spends $13 billion on acquisitions in 5 years, focus on energy and technology

CFO News

Reliance Industries Ltd has invested $13 billion in acquisitions over the past five years, shifting focus from oil to clean energy, telecom, retail, and media sectors. Recent acquisition Karkinos Healthcare boosts its digital healthcare presence. Major investments include Hathway Cable and REC Solar. RIL aims to enhance its healthcare services using advanced technology and extensive networks.

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Core sector output rises to 4-mth high of 4.3% in Nov

CFO News

India's core sector output grew by 4.3% in November, a four-month high, up from 3.7% in October. This growth reflects the fading impact of heavy rainfall earlier. Cement led with 13% growth. Coal, steel, electricity, refinery products, and fertilizers also saw positive growth. However, crude oil and natural gas declined.

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India well positioned to more than fend for itself: Anand Mahindra

CFO News

Anand Mahindra emphasizes that India, leveraging its political stability and military strength, can capitalize on evolving global alliances to enhance its economic potential and integrate further into the global supply chain. Mahindra Group sees significant growth opportunities, highlighted by achievements in the automotive sector, particularly with premium electric vehicle launches.

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Surfing on wave of premiumisation, appliances industry expects 15 pc growth in 2025

CFO News

The appliances and consumer electronics industry expects 10-15 per cent growth in 2025 on the back of premiumisation trend, which is driven by rising incomes, changing preferences towards energy-efficient, and connected products with innovative features such as AI and increasing desire for global quality products. The year 2024 was transformative for the industry, in which it bounced back despite challenges such as rising raw material costs, price hikes, and supply chain disruptions, and display

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.