BUSINESS
Implement norms for statutory auditors in next fiscal, FIDC to RBI
The guidelines for appointment of Statutory Central Auditors and Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including Housing Finance Companies) which were released on Tuesday would become applicable from the current financial year (2021-22).
Small scale, tiny units want interest waiver to survive Covid-19 impact
An official of a public sector bank preferring anonymity told IANS that if the government does not come out with a package, then the non-performing assets (NPA) of the banking sector are set to surge ahead this year.
Zomato files for Rs 8,250 cr IPO as orders surge in pandemic
In a draft red herring prospectus (DRHP) filed with the market regulator, Zomato said it aims to raise Rs 8,250 crore in capital by offering the company's equity shares for sale. Of this, Rs 7,500 crore will be through fresh issuance and the rest of the Rs 750 crore will be an offer for sale for its existing investor Info Edge.
Jio Platforms among TIME 100 most influential companies
As per TIME magazine, over the past few years, Reliance Industries has built India's largest 4G network by charging some of the lowest data rates in the world. Now leading investors are turning to Jio Platforms, the holding company for Reliance's digital businesses, to reach its more than 410 million subscribers, it said.
Fuel prices remain steady; revisions expected next month
Sources indicated that price revisions may begin early next month after results to state elections are declared. However, whether price of petrol and diesel would move up or down would depend on average global price in the last fortnight of March.
Sensex up 350 points, auto stocks surge
Healthy buying was seen in auto and banking stocks. Around 10.25 a.m., Sensex was trading at 49,300.42, higher by 356.28 points or 0.73 per cent from its previous close of 48,944.14. It opened at 49,066.64 and has so far touched an intra-day high of 49,354.82 points. The Nifty50 on the National Stock Exchange was trading at 14,742.70, higher by 89.65 points or 0.61 per cent from its previous close.
India's GDP may grow at 11% in FY22: ADB
In its report, 'Asian Development Outlook (ADO) 2021', the ADB also noted that the recent surge in Covid-19 cases may put this recovery at risk. "India's economy, meanwhile, is expected to grow 11.0 per cent in fiscal year (FY) 2021, which ends on 31 March 2022, amid a strong vaccine drive. However, the recent surge in COVID-19 cases may put this recovery at risk," it said.
SBI board to mull raising $2 bn via bonds in FY22
It said the Executive Committee will meet "to examine the status and decide on long term fund raising in single/multiple tranches up to US$2 Billion under Reg-S/144A, through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2021-22".
Amazon to airlift 100 ICU ventilator units from US to India
Amazon has tied up with Medtronic, an American-Irish medical device company, to deliver the units to India in the next two weeks. The e-commerce giant is also working closely with the Health Ministry's appointed agencies to finalise the hospitals for end-to-end delivery, installation, maintenance and training of personnel who will use these machines.
GST return verification through OTP allowed
The Central Board of Indirect Taxes and Customs has allowed taxpayers to file return forms GSTR-1 and GSTR 3B through an electronic verification code (EVC) that would be a kind of one time password (OTP). This would eliminate the need to verify the returns forms filed by taxpayers through digital signature by visitation to GST offices.
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