Merger: E&Y to carry out harmonisation of capital norms of PNB, UBI, OBC
"PNB, the anchor bank, has appointed E&Y as advisor for harmonisation of capital norms, precisely net worth of the three banks as on March 31, 2020," United Bank of India's MD and CEO Ashok Pradhan said. At present, the consulting firm is looking at the balance sheets of the three banks and their audited reports of the second quarter of the current financial year, he added.
Budget 2020 should hike tax breaks for house property income to boost realty: EY
Providing tax incentives on house property income would stim...
Budget 2020 should cut income tax slabs, offer tax breaks to boost investment: EY
The Indian economy is growing at around 5 per cent in FY 20...
GST authorities begin audit exercise: issue show cause notices
India Inc is set to face first ever tax audit under the GST regime. The taxpayers are being asked to furnish detailed records of GST forms, income tax papers and other documents for detailed records for FY2018. Tax authorities had issued a detailed GST manual telling at least 70% of taxpayers in each commissionerate have to be audited.
EY to hire 23,000 people in FY20
The accounting firm is set to hire in 2020, making the Indian arm its largest workforce outside of the US.
For DHFL, RBI appoints EY administrator advisor and AZB legal advisor
DHFL is in the process of finding a resolution after a recent proposal of lenders was rejected by the RBI. ET was first to report on October 19 that the RBI had rejected a proposal by banks that would have allowed them provisioning relief to the tune of Rs 6,000 crore on borrowings by DHFL. Most banks will have to now take this into account for the December quarter.
Investors look out for non-financial data in company reports: EY Survey
Several global CFO’s EY polled also articulated the need for a ‘change of culture’ in their finance teams especially regarding the team’s approach to matters concerning transparency and a greater willingness to question boards and management on the quality of disclosures.
EY partners with cos for client solutions
Tom Velema, EY’s alliances leader for EMEIA, who was in India recently, told ET that the shift in strategy had been initiated almost a decade ago but got a sharper focus only in the last few years. “This is an ecosystem play we adopted, which started with a global partnership with SAP. This is also a reflection of the market and embracing the drive to digital,” Velema said.
Altico lenders appoint SBI Cap & EY as advisors
Existing shareholders also declined to bring in further capital to support upcoming lender repayments, citing their latest infusion in March.
EY estimates that digital technologies to create $1 trillion economic value by 2025
The consulting firm said that India’s goal of reaching $5 trillion economy is heavily banking on digital adoption.
EY plans to hire 14,000 for global delivery services team
The audit and professional services major is looking to recruit more talent with expertise in advanced analytics and other highly-skilled professionals across its eight GDS centres in the country that already employ about 27,000 people.
PE/VC investments remain flat at $3.31 bn in October: Report
The data showed realty investments coming down in October to $114 million.
Altico’s lenders rope in SBI caps, EY to work on resolution plan
Troubled NBFC, too, working on a turnaround plan with the help of Alvarez & Marshal.
MNC Digital companies may face a minimum level of tax
Multinational technology and digital companies may have to cough up a minimum level of corporate tax. The OECD seeks to use financial accounts as a starting point for determining the tax base and provide guidance to MNCs.
Ernst & Young probes cashback fraud at Paytm Mall
The Startup staff, in collusion with vendors, created fake orders to siphon off funds.
Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service