The Central government is preparing to adopt the OECD Pillar-2 tax regime in the upcoming Budget. This move aims to support and benefit from the global effort to combat tax avoidance. The Finance Bill, 2024, will be amended after the full Budget is tabled in July, with provisions coming into effect from September. Understanding Pillar-2 GloBE Rules The Pillar-2 GloBE Rules establish a global minimum tax...

To significantly boost broadband expansion across India, it is projected that an investment of over Rs 4.2 trillion will be required by 2030. This substantial financial infusion is expected to come through collaborative efforts under public-private partnership (PPP) models, reflecting a unified commitment from both sectors.  The primary aim of this massive investment is to expand and enhance broadband infrastructure throughout the country, covering both...

The Reserve Bank of India (RBI) has introduced draft guidelines aimed at reforming project financing standards. These new RBI Guidelines are anticipated to increase interest costs for infrastructure projects but are seen as a necessary step to reduce dependency on foreign component supplies and enhance job creation in India. Direct Impact on Infrastructure Costs The RBI's draft guidelines mandate that lenders, including prominent banks like the...

Adani Green Energy (AGEL), a part of the Adani Group dedicated to renewable energy, announced on Thursday that it has secured $400 million in funding. This significant financial boost comes from a consortium of five international banks: Cooperative Rabobank, DBS Bank, Intesa Sanpaolo, MUFG Bank, and Sumitomo Mitsui Banking Corporation. The funds will support the construction of 750 MW solar power projects located in Rajasthan...

The Reserve Bank of India (RBI) has issued a crucial notification related to Key Fact Statement, aimed at safeguarding borrower interests by enforcing transparency and consent for fees associated with loan agreements. This measure affects all new retail and MSME term loans sanctioned from October 1, 2024. This ensures that borrowers are well-informed and not subjected to undisclosed charges. Key Fact Statement (KFS) Requirements The RBI's...

The startup landscape is rapidly expanding, with India marking a significant achievement this year by surpassing 100,000 registered startups through the Startup India initiative, as highlighted by Commerce Minister Piyush Goyal. This surge reflects not only the vibrant entrepreneurial spirit but also the critical need for financial management acumen. With an ever-increasing number of startups entering the market, understanding and sidestepping common financial mistakes...

In a dynamic development within India's online payment sphere, Innoviti Payments and Vegaah, a payment gateway operated by Concerto Software and Systems, have secured the esteemed payment aggregator (PA) license from the Reserve Bank of India (RBI). This milestone underscores the burgeoning activity in the sector and emphasizes a commitment to regulatory compliance and security. Diverse Players Embrace Regulation: CCAvenue Joins the Ranks CCAvenue, under the...

In a significant development, Yenmo secures $500,000 in funding led by Y Combinator, marking a milestone in their mission to democratize financial services. Founded by Aryan Agarwal and Ashutosh Purohit, Yenmo empowers Indian investors to borrow against investments like mutual funds and stocks at a flat 10.5% interest rate. This approach allows immediate financial needs without compromising long-term growth potential. Innovative Solutions for Investors Yenmo's user-friendly platform...

In the dynamic landscape of finance, risk management stands as a cornerstone for ensuring the stability and longevity of businesses. Within this realm, leveraging financial instruments emerges as a powerful strategy, empowering organizations to navigate uncertainties, mitigate risks, and seize opportunities with confidence. Let's delve into how businesses can harness the potential of financial instruments to fortify their risk management practices and pave the...

In the dynamic landscape of finance, the year 2024 stands witness to a transformative shift as organizations fully embrace digital transformation. Here's a closer look at how the digital revolution is reshaping finance functions, offering C-suite executives unique opportunities to elevate financial processes. Real-Time Decision-Making with Data In the era of instantaneous insights, finance executives are leveraging real-time data for informed decision-making. This shift allows C-suite...