ICAI may review financial statements of IndusInd Bank amid accounting discrepancies

NEW DELHI: Chartered accountants’ apex body ICAI may review the financial statements of IndusInd Bank, which is grappling with discrepancies in accounting estimated to be Rs 2,100 crore. The private sector lender, on March 10, disclosed some discrepancies in its derivatives portfolio, which could have an adverse impact of about 2.35 per cent of the…

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Come out of protectionist mindset: Goyal to exporters

Union minister Piyush Goyal NEW DELHI: Commerce and industry minister Piyush Goyal on Thursday suggested to industry that it was imperative to shed some protectionism as the world was looking at reciprocity, while assuring exporters that govt was working overtime to protect their interests.“Reflecting on reciprocal tariffs, he has cautioned the EPCs (export promotion councils)…

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Patanjali, DS Group buy Magma Insurance at Rs 4,500 crore valuation

Yog guru Baba Ramdev and Patanjali Ayurved’s Managing Director Acharya Balkrishna (ANI Photo) MUMBAI: The board of Magma General Insurance has approved a share purchase agreement under which Patanjali Ayurved and several foundations will acquire a controlling stake in the company. The agreement, finalised on March 12, involves the transfer of equity shares from existing…

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Banks told to gear up for green tech credit risks

MUMBAI: RBI governor Sanjay Malhotra on Thursday urged banks to strengthen risk management frameworks to address credit risks associated with emerging green technologies, which have limited reliability and efficiency track records. “Regulated entities need to develop suitable capacity and technical know-how to better appraise risks in financing projects using such green technologies,” he said at…

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