CFO News Room
FEBRUARY 5, 2022
Goyal said both merchandise and services exports are poised to hit a record this fiscal. India will clinch a clutch of balanced free trade agreements (FTAs) in the coming months, commerce and industry minister Piyush Goyal said on Saturday, exhorting domestic industry to take advantage of the immense opportunities that are set to come its way and scale up exports.
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FEBRUARY 5, 2022
As a business grows, its supply chain and distribution network typically grow and become more complex to match. Effective management requires labor optimization, automation, and operational flexibility to forecast and adapt to fluctuations. This is the stage in a company’s development when an enterprise resource planning (ERP) system or a warehouse management system (WMS) is often implemented.
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CFO News Room
FEBRUARY 5, 2022
The government will borrow Rs 14.95 lakh crore from the market, while net borrowing will be at Rs 11.2 lakh crore to bridge the fiscal deficit gap. By Manish M Suvarna. Bond yields touched a 30-month high on Tuesday after the government announced a higher-than-expected gross market borrowing of Rs 14.95 lakh crore and a revised fiscal deficit of 6.9% for the current fiscal year, higher than the earlier estimate of 6.8%.
CFO News Room
FEBRUARY 5, 2022
Roth IRAs are popular accounts for investors to leave to their heirs because of these accounts’ tax-free status and lack of required minimum distributions (RMDs) during the original owner’s lifetime. Roth contributions are made with after-tax money, and any distributions you take are tax-free as long as you are at least 59½ years old and have had a Roth IRA account for at least five years.
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CFO News Room
FEBRUARY 5, 2022
Stepping up capex to Rs7.5 lakh crore in the next fiscal will percolate down to the real engines of our economic growth — the MSMEs. By Vidit Aatrey. Resilience, inclusive growth, and technology-enabled development – the Budget 2022 by finance minister Nirmala Sitharaman aims to create an enabling framework to achieve these three benchmarks. While the Budget delivers on many fronts, achieving this completely would require a concentrated effort spanning multiple years and further reforms.
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
CFO News Room
FEBRUARY 5, 2022
Similarly, through the CGTMSE, the government will offer guarantee to catalyse the flow of institutional credit to these small businesses without collateral. In FY21, about 8.36 lakh guarantees were approved, covering loans of `36,954 crore. The Budget on Tuesday proposed to extend the validity of its flagship guaranteed loan scheme by a year through March 2023 and widened its coverage by Rs 50,000 crore to Rs 5 lakh crore, acknowledging the need for a protracted period of succour to start-ups a
CFO News Room
FEBRUARY 5, 2022
The previous year’s Budget focused on foundational measures towards a consumer-driven economy while keeping a keen eye on post-Covid recovery. By Saugata Gupta. The Union Budget continues the policy direction set by last year’s Budget. It takes the realities of a post-pandemic landscape into account, whilst bolstering the economy by creating a growth blueprint over the Amrit Kal of next 25 years.
CFO News Room
FEBRUARY 5, 2022
The bulls, however, cheered the announcement of capping surcharge on the long-term capital gains (LTCG) at 15%, irrespective of the amount of long-term capital gains. The move will be beneficial for those investors who hold the shares at least 12 months before selling. By Yoosef Kp & Ruchit Purohit. The equity market witnessed some wild swings on the Budget Day, with the Sensex rebounding after losing more-than 2% from the day’s high.
CFO News Room
FEBRUARY 5, 2022
How will you manage money as a newly married couple? One practicality you need to discuss, preferably before saying, “I do,” is what your money style will be going forward. While it’s true that, in general, getting married makes financial sense , how do you make it make sense—and cents—for you? There are three main ways that couples manage their finances: separately, jointly, or with a combination of separate and joint accounts.
Speaker: James Kahler, COO of Full Course
Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.
CFO News Room
FEBRUARY 5, 2022
Chanel SA’s small Classic Flap bag was always a luxury item, but after three price hikes last year, it is selling for $8,200. That is up from the $5,200 it cost in 2019. The French fashion house has been raising prices at a faster pace than other luxury brands, analysts say, prompting an outcry from some shoppers and testing their willingness to pay.
CFO News Room
FEBRUARY 5, 2022
The government had withdrawn the LPG subsidy since May 2020. The FY23 budgetary estimate for direct benefit transfer (DBT) subsidy for liquefied petroleum gas (LPG) has been set at Rs 4,000 crore. Although the allocation is around 18% higher than the amount earmarked for FY22 (revised estimate), the figure is significantly lower than the Rs 23,666.6 crore spent on this account in FY21.
CFO News Room
FEBRUARY 5, 2022
A Bench led by Chef Justice NV Ramana while seeking response from the banks within two days asked them to take a “realistic approach”in the matter. Asking the Future Retail ’s 27 lenders to take a “realistic approach”” while reconsidering their decision, the Supreme Court on Tuesday asked them to explain in two days as to why they should not be restrained from declaring the Kishore Biyani firm as a defaulter for failing to pay their loan dues to the tune of Rs 3,494.56 crore, the deadline for wh
CFO News Room
FEBRUARY 5, 2022
Delta has been pushing for heightened reporting, investigation and prosecution of those who interfere with onboard safety. Photo: Michael Dwyer/Associated Press. Associated Press. Feb. 5, 2022 3:13 pm ET. NEW YORK—. Delta Air Lines. DAL 0.30%. has requested that the Justice Department put any person convicted of a disruption on board a flight on the national “no fly” list.
Speaker: Jamie Eagan
As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of
CFO News Room
FEBRUARY 5, 2022
The FY23 budgetary estimate for direct benefit transfer subsidy for LPG has been set at Rs 4,000 crore. As many as 7.7 lakh beneficiaries under the Pradhan Mantri Ujjwala Yojana (PMUY) scheme have switched to 5 kg liquefied petroleum gas (LPG) cylinders from the standard 14.2 kg domestic cylinders provided to them earlier under the scheme. Among the new PMUY beneficiaries, oil marketing companies (OMCs) have released 8.1 lakh 5 kg connections as on January 1, petroleum minister Rameswar Teli rec
CFO News Room
FEBRUARY 5, 2022
It is also heartening to see the government acknowledge the heavy toll that Covid pandemic has had on mental health of individuals. By Mohit Malhotra. Finance Minister Nirmala Sitharaman’s shortest Budget ever may not have met the general expectations of being a short-term consumption booster, but it surely has all the right ingredients for becoming an impactful long-term growth-oriented move.
CFO News Room
FEBRUARY 5, 2022
The Finance Bill, 2022 proposes amending the RBI Act, 1934 to modify the definition of a bank note to cover digital notes issued by the central bank. The Reserve Bank of India ( RBI ) will introduce a digital rupee in the next financial year beginning April 2022 subsequent to amendments proposed in the Finance Bill, 2022. The Union Budget for 2022-23 made a string of other announcements on digital payments, including a plan to offer netbanking to depositors with India Post and another to set up
CFO News Room
FEBRUARY 5, 2022
GAIL revenue increased 65.9% y-o-y to Rs 26,427.4 crore in Q3, while expenses grew 57.3% to Rs 22,119 crore. State-run gas transporter GAIL ’s net profit increased 121.1% year-on-year (y-o-y) to Rs 3,287.9 crore on a standalone basis in the quarter ended December, as the natural gas marketing business — GAIL’s largest revenue earner — reported a before-tax profit of Rs 1,749.7 crore against a loss of Rs 73.7 crore in the corresponding period a year ago.
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CFO News Room
FEBRUARY 5, 2022
In her Budget speeches for 2019-20 and 2020-21, finance minister Nirmala Sitharaman referred to ZBNF as ‘innovative model for doubling farmers’ income’. The Budget unveiled several steps aimed at boosting farmers’ income and improving the viability of agriculture as a remunerative economic activity, including prospective launch of special funds for agri start-ups, use of ‘kisan drones’ and launch of a public private partnership (PPP) model to spur agri-tech players and other stakeholders in the
CFO News Room
FEBRUARY 5, 2022
During the quarter, SF Holdings sold a 1.50% stake held in Sundaram Clayton for a total gain of Rs 124.66 crore, bringing its stake down to 9.74%. Using the proceeds of the divestment, the board of SF Holdings has declared a special dividend of 20%. Sundaram Finance Holdings (SF Holdings) has reported a consolidated net profit of Rs 33.63 crore for the quarter ended December 31, 2021, an increase of 22% over Rs 27.65 crore in the corresponding period of the previous year.
CFO News Room
FEBRUARY 5, 2022
If you are a government employee, retirement planning and mainstream advice about 401(k) plans and Social Security benefits probably won’t apply to you. However, there are many ways government employees can plan for a successful retirement. The first step is understanding your benefits, and how to best apply them to your overall financial picture.
CFO News Room
FEBRUARY 5, 2022
The plan is aimed at helping Covid-hit SEZs better utilise their idle capacities and improve sales. Commerce and industry minister Piyush Goyal on Tuesday said his ministry is in talks with the finance ministry to allow firms in the special economic zones (SEZs) to sell goods in the domestic market by paying just an “equalisation levy”. This levy, analysts say, is expected to be lower than the regular customs duties that SEZ units are currently mandated to pay while supplying to the domestic tar
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In this white paper, we explore the factors to consider in deciding whether the time is right for your Company to consider a new ERP or accounting software, the total cost of ownership and plans necessary to make the potential leap to these systems.
CFO News Room
FEBRUARY 5, 2022
Total income was flat at Rs 2,530 crore as compared to Rs 2,505 crore in the corresponding quarter last year. Cholamandalam Investment and Finance Company (Chola), the financial services arm of over Rs 41k- crore Murugappa Group, has reported a profit after tax (PAT) of Rs 524 crore for the third quarter of the current fiscal year as against Rs 409 crore in the corresponding quarter of last financial year, registering 28% growth.
CFO News Room
FEBRUARY 5, 2022
Borrowers of federal student loans need to get ready to start making payments again. The current suspension of federal student-loan repayments was extended through May 1. It’s possible that the pandemic-inspired suspension, in effect since early 2020, could be extended. The government also could cancel certain student-loan debt entirely, as some advocates are pressing for.
CFO News Room
FEBRUARY 5, 2022
Stocks are falling after hiring in January blew past expectations, raising concerns that the Federal Reserve will lift interest rates aggressively to prevent the economy from overheating. The U.S. added 467,000 jobs last month, the Labor Department reported today. That crushed economists’ expectations for 150,000 hires, driving stocks lower despite Amazon.com, Inc. ( AMZN ) gaining after a solid earnings report.
CFO News Room
FEBRUARY 5, 2022
Texas’ grid operator, the Electric Reliability Council of Texas, didn’t live up to its name last year. This time around, widespread blackouts of that severity seem less likely, but that may not say much about how resilient the system actually is. Texans are understandably worried about the cold spell over the next few days, a painful déjà vu of a year earlier, when the state saw blackouts that left millions without power for days.
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