Mon.Jul 15, 2024

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My aim is to make Mumbai global fintech capital, says PM Modi as he launches Rs 29,000 crore infrastructure projects

CFO News

Prime Minister Narendra Modi has launched a Rs 29,000 crore investment drive in Mumbai, focusing on crucial infrastructure projects in roads, railways, and ports. This aims to elevate Maharashtra as a global financial powerhouse, with Mumbai set to lead in fintech. PM Modi highlighted the projects at Goregaon's NESCO Exhibition Centre, emphasizing their role in boosting economic growth and connectivity.

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Powell says data lift Fed confidence inflation cooling toward 2% goal

CFO Dive

Federal Reserve Chair Jerome Powell welcomed recent inflation data, including a report that the core consumer price index rose last month at the slowest pace since early 2021.

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Upskilling Finance to realise business outcomes

Future CFO

It is undeniable that the Finance function is in dire need to keep up with the technological advancements to meet the demand of the market, and one of the things in the to-do list is upskilling its people. A recent Gartner survey revealed that finance leaders think artificial intelligence, particularly GenAI, is set to impact organisational functions, as there are high levels of uncertainty among finance executives regarding the challenges surrounding the implementation of GenAI.

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3 reasons why it’s time to get on board with AI for growth

CFO Dive

Start thinking of AI as an offensive advantage instead of a defensive backstop.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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How to Change Business Service Providers – A Real-World Example that Illustrates the Challenges

CFO Selections

During the course of normal business, it is sometimes necessary to cut ties with established business partners in favor of other organizations that are better able to meet your company’s needs. Any number of reasons might lead to this transition, including, but not limited to: Growth of your firm that exceeds what your business partner can offer. Growth of the business partner that takes their service offerings in a different direction.

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Future-proof your business: Essential budgeting templates and tools for FP&A leaders

Cube Software

Quick overview of budgeting fundamentals Before diving into advanced strategies, let's quickly cover the basics. A solid business budget includes key components like revenue projections, expense forecasts, and cash flow analysis.

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AR player Versapay plunges ahead with new C-suite team

CFO Dive

The business-to-business accounts receivable player is weighing its strategic options and eyeing opportunities in the office of the CFO.

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1,016: When Career Years Are Investment Years | Sandeep Aujla, CFO, Intuit

CFO Thought Leader

By the time Sandeep Aujla arrived at Intuit in 2015, he had already invested 7 career-building years as a senior finance executive at Visa, so his path to the CFO office was presumably getting shorter and shorter. Still, it would be another 8 years before he would be appointed Intuit CFO. While there’s little question that during those 8 years Aujla could have likely nabbed CFO appointments elsewhere.

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Unleashing the power of automation in accounting

CFO Dive

Discover how WilliamsMarston’s team of accounting, tax and valuation experts can help you navigate your most complex challenges and drive transformational outcomes.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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Budget 2024: Budget likely to announce India’s commitment to global minimum effective corporate tax

CFO News

Several key countries through which investments flow into India and also flow out from India (Indian headquartered companies setting up operations overseas) have either introduced or announced their commitment to Pillar 2.

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Transcript: Matt Eagan

Barry Ritholtz

The transcript from this week’s, MiB: Matt Eagan, Loomis Sayles Fixed Income , is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify , YouTube , and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ 00:00:02 [Speaker Changed] Bloomberg Audio Studios, podcasts, radio News. 00:00:09 [Speaker Changed] This is Masters in business with Barry Ritholtz on Bloomberg Radio. 00:00:15 [Barry Ritholtz] Th

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Fed's Powell does not see hard landing for US economy

CFO News

USA-FED/POWELL-RECESSION (URGENT)Fed's Powell does not see hard landing for US economy

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Budget 2024: LTCG auditions for a new role in India realty show

CFO News

The proposal suggests that property held for more than 12 months be considered long-term assets, bringing this in line with equities and equity mutual funds, a person privy to the deliberations told ET. However, there may not be any change in the tax rates for both long-term and short-term capital gain. The long-term capital gains tax on property is 20% with indexation benefits to adjust for inflation.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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Govt implements uniform 5% tax for all aircraft, aircraft engine parts

CFO News

India has implemented a uniform 5% tax on all imports of aircraft components and engine parts starting immediately, replacing varying rates that previously ranged from 5% to 28%. The decision, recommended by India's GST Council in June, aims to streamline tax rates for items like aircraft parts, testing equipment, tools, and tool-kits.

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Digital transformation: The cornerstone of today’s insurance experience

CFO News

In the evolving landscape of finance, Kedar Patki, CFO of IndiaFirst Life, highlights how digital transformation is reshaping the insurance experience, making it more accessible, efficient, and customer-centric than ever before.

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India’s world-beating GDP growth can’t sustain over time unless FM Sitharaman fixes this in the Union Budget

CFO News

Budget 2024 and Private Investment | Private consumption and investment are key concerns for Finance Minister Nirmala Sitharaman ahead of the Union Budget. Q1FY25 saw new private investment plans hit a 20-year low at Rs 44,300 crore. Despite recent nascent signs of recovery, sustainable long-term growth requires robust private investment and consumption, supported by continued government capex and policy certainty.

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Paytm states consistent compliance and adherence to regulations on administrative warning from SEBI

CFO News

In response to the SEBI Administrative Warning, India's leading payments and financial services distribution platform, Paytm, said that it has consistently adhered to all listing regulations from time to time, including any amendments and updates to these regulations over time.

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Bringing AI to Finance: How to Leverage Technology for Efficiency and Control

Finance teams are balancing more than ever, but manual processes shouldn’t slow you down. In this ebook from BILL, discover how AI is transforming finance—automating AP, expense tracking, and document management to reduce errors, increase efficiency, and improve financial control. Learn how real companies are using AI-powered automation to streamline workflows, detect anomalies, and gain deeper insights.

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Budget 2024: MSME data stack, alternative credit assessment models can bridge $530 bn credit gap, says industry

CFO News

Msme Data Stack: Industry experts highlight the pressing need to tackle the issue of cash flow problems for the MSME sector in the upcoming Budget on July 23.

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Google parent in advanced talks to buy cybersecurity startup Wiz for $23 billion

CFO News

According to its website, Wiz generated about $350 million in revenue in 2023 and works with 40% of Fortune 100 companies. It recently raised $1 billion in a private funding round that valued the company at $12 billion. Wiz works with multiple cloud providers such as Microsoft and Amazon and counts companies from Morgan Stanley to DocuSign among its customers.

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Fraud tag on loans only after hearing borrowers: RBI to banks

CFO News

The RBI has mandated banks to give borrowers three weeks to respond before labeling accounts as fraudulent, aligning with a Supreme Court ruling on natural justice. Banks must issue detailed notices and consider responses before final classification, ensuring transparency. Boards must review fraud risk policies every three years, with a committee overseeing cases chaired by an independent director.

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Adani upbeat on its India ports biz, expects volumes to double in 5 years

CFO News

The ports business has been seeing exponential growth in the past few years, and Adani expects the trajectory to continue. "Currently, the split between our ports and logistics segment is 70:30, and we expect the same to continue because while our logistics segment is growing, so is our ports segment, and that too at a much faster pace," he said.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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WPI hits 16th month high at 3.36% in June riding on costlier vegetables

CFO News

Driven by soaring food prices, India’s wholesale inflation sees a significant surge, mirroring the trend in retail inflation. The annual rate of inflation (y-o-y) based on WPI Food Index increased from 7.40% in May, 2024 to 8.68% in June, 2024.

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Retrospective GST on corporate guarantees may lead to cost escalations: Experts say

CFO News

The CBIC's latest circular clarifies GST on corporate guarantees, providing retrospective guidance on taxability and valuation. Experts say it simplifies the valuation process.

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Claims arising from GenAI covered, says TCS CFO Samir Seksaria

CFO News

TCS is currently executing about 270 GenAI projects, and its AI and GenAI pipeline has doubled to $1.5 billion in the June quarter.

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