The New Union Finance Minister in her budget speech last week touched The Holy Grail of Indian Fiscal Management - the possibility of The Government raising Debt from Overseas Investors via an International Debt Issuance. In the context of the country's liquidity and credit situation, there could not be a better time to lay 27 year old demons and draconian thinking to rest - so three cheers Madam Sitharaman! A large part of the community of International Bankers , including yours' truly, has been echoing this sentiment for some time now (maybe 20 years!!) . For certain very pertinent reasons. The Domestic Capital Markets and the present Crisis of Confidence With the sad demise of IL&FS in the 3rd quarter 2018, and massive collateral damage to the Domestic Credit markets - various "stretched" balance sheets have begun to collapse under the stress of constrained liquidity channels. This has led to the circumstances fast leading to a liquidity crisis , transforming into a Credit … [Read more...] about Budget 2019: India’s Offshore Borrowing Plans – Effectiveness and Fallacies!
Borrow 20k over 5 years
Looked at another way, the Fed’s target for overnight rates was a range of 2 percent to 2.25 percent as recently as August. In other words, just six months ago, banks were paying around the same rate to borrow overnight what the U.S. Treasury agreed to pay for a 30-year bond. … [Read more...] about The U.S. Treasury Sold 30-Year Bonds at a Record-Low Yield
The committee had noted that the need for interim dividend to be paid by the RBI would be reduced and would be restricted to “extraordinary circumstances”, and the move brought “greater cohesiveness in the monetary policy projections and reports published by the RBI, which mostly use the fiscal year as the base”. … [Read more...] about RBI to rejig financial year in line with government’s
The friend says the accounts for both companies have been audited and signed off by their boards: 'They have been sent to Companies House, but I understand that there is a backlog. There are no financial problems. This late filing has not impacted the business in any way.' … [Read more...] about He really is GOLDEN-balls! David Beckham earns ‘more than a £1million a month and pays himself £35,000 a day’… four years after retiring
On Thursday, accounting major PwC India said it will not offer any non-audit services to its audit clients. The non-audit services include tax advisory, and consulting etc. Last year Grant Thornton had also announced the same.PwC’s move to ban non-audit services has come at the time when the auditors have increasingly come under the radar of regulators and public following a series of corporate scams and business failures including the one at the construction financier IL&FS. The ‘independence’ of the chartered accountants has simply come under the question.In an interview to ETCFO below, former President at the Institute of Chartered Accountants and a senior auditor himself, Amarjit Chopra, discussed the key issues plaguing the auditors’ independence in performing their role. He also shared his perspective on the last week’s consultation paper brought by the government for improving the accountability of the CAs. Edited excerpts. Q: First Grant … [Read more...] about Certain that in the years to come there will be a concept of Audit and Non-Audit firms, says Ex ICAI President Amarjit Chopra