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RBI's new audit norms to ensure no repeat of IL&FS, DHFL & Yes Bank

RBI s new audit norms to ensure no repeat of IL&FS, DHFL & Yes Bank
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Rules likely to improve transparency and build confidence in audit industry, say many analysts, who also flag initial operational issues
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The long shadow of IL&FS,
DHFL and Yes Bank has reportedly prompted the central bank to stay firm on its stand that financial businesses must comply with the latest auditing norms, which simultaneously seek to lift standards, decentralise the industry and prevent conflicts of interest involving the various revenue streams at consulting companies.
Large audit firms either linked to or affiliated to the Big Four currently dominate the audits of financial services companies. The new guidelines are expected to give opportunities to small and mid-sized Indian audit firms, potentially increasing competition, breaking old links and bringing in more scrutiny. ....

Asutosh Mishra , Lalitabh Srivastawa , Big Four , Confederation Of Indian Industry , Dc Ag Office , Yes Bank , Reserve Bank , Indian Industry , Reserve Bank Of India , Rbi Audit Norms , Audit Norms , அசுதோஷ் மிஸ்ரா , பெரியது நான்கு , கூட்டமைப்பு ஆஃப் இந்தியன் தொழில் , ஆம் வங்கி , இருப்பு வங்கி , இந்தியன் தொழில் , இருப்பு வங்கி ஆஃப் இந்தியா ,

New auditing rule book to ensure no repeat of IL&FS, DHFL-like fiascos

New auditing rule book to ensure no repeat of IL&FS, DHFL-like fiascos
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Synopsis
Rules likely to improve transparency and build confidence in audit industry, say many analysts, who also flag initial operational issues
Related
The long shadow of IL&FS,
DHFL and Yes Bank has reportedly prompted the central bank to stay firm on its stand that financial businesses must comply with the latest auditing norms, which simultaneously seek to lift standards, decentralise the industry and prevent conflicts of interest involving the various revenue streams at consulting companies.
Large audit firms either linked to or affiliated to the Big Four currently dominate the audits of financial services companies. The new guidelines are expected to give opportunities to small and mid-sized Indian audit firms, potentially increasing competition, breaking old links and bringing in more scrutiny. ....

Asutosh Mishra , Lalitabh Srivastawa , Big Four , Confederation Of Indian Industry , Dc Ag Office , Yes Bank , Reserve Bank , Indian Industry , Reserve Bank Of India , Rbi Audit Norms , Audit Norms , அசுதோஷ் மிஸ்ரா , பெரியது நான்கு , கூட்டமைப்பு ஆஃப் இந்தியன் தொழில் , ஆம் வங்கி , இருப்பு வங்கி , இந்தியன் தொழில் , இருப்பு வங்கி ஆஃப் இந்தியா ,

New auditing rule book to ensure no repeat of IL&FS, DHFL-like fiascos

New auditing rule book to ensure no repeat of IL&FS, DHFL-like fiascos
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Share
Synopsis
Rules likely to improve transparency and build confidence in audit industry, say many analysts, who also flag initial operational issues
Related
The long shadow of IL&FS,
DHFL and Yes Bank has reportedly prompted the central bank to stay firm on its stand that financial businesses must comply with the latest auditing norms, which simultaneously seek to lift standards, decentralise the industry and prevent conflicts of interest involving the various revenue streams at consulting companies.
Large audit firms either linked to or affiliated to the Big Four currently dominate the audits of financial services companies. The new guidelines are expected to give opportunities to small and mid-sized Indian audit firms, potentially increasing competition, breaking old links and bringing in more scrutiny. ....

Asutosh Mishra , Lalitabh Srivastawa , Big Four , Confederation Of Indian Industry , Dc Ag Office , Yes Bank , Reserve Bank , Indian Industry , அசுதோஷ் மிஸ்ரா , பெரியது நான்கு , கூட்டமைப்பு ஆஃப் இந்தியன் தொழில் , ஆம் வங்கி , இருப்பு வங்கி , இந்தியன் தொழில் ,

HDB's Q4 net falls 17% on provisions - The Economic Times

HDB’s Q4 net falls 17% on provisions
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Analysts said the company has been able to arrest the slide in asset quality after a deteriation in the nine months of the fiscal. Gross NPAs had increased to 5.9% in December from 5.1% in September 2020.
Net profit for the fiscal ended March 2020 halved to Rs 503 cr from Rs 1,037 cr a year earlier.
HDB Financial Services (HDB) the non-banking finance company (NBFC) subsidiary of HDFC Bank reported a 17% drop in net profit in the quarter ended March 2021 due to higher provisions indicating the challenging economic environment facing the company which focuses on the risky unsecured personal loans, new to credit loans consumer durable loans, used car loans, credit card balance transfer and loans to small enterprises. ....

Madhya Pradesh , Andhra Pradesh , Hdbs Npas , Lalitabh Srivastawa , Gross Npas , Hdb Financial Services , Higher Provisions , Gross Npa , மத்யா பிரதேஷ் , ஆந்திரா பிரதேஷ் , எச்டிபி நிதி சேவைகள் , அதிக விதிகள் , மொத்த ந்பா ,

HDB Financial Services reports 17% drop in net profit in March quarter

HDB Financial Services reports 17% drop in net profit in March quarter
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Synopsis
Analysts said the company has been able to arrest the slide in asset quality after a deteriation in the nine months of the fiscal. Gross NPAs had increased to 5.9% in December from 5.1% in September 2020.
Net profit for the fiscal ended March 2020 halved to Rs 503 cr from Rs 1,037 cr a year earlier.
HDB Financial Services (HDB) the non-banking finance company (NBFC) subsidiary of HDFC Bank reported a 17% drop in net profit in the quarter ended March 2021 due to higher provisions indicating the challenging economic environment facing the company which focuses on the risky unsecured personal loans, new to credit loans consumer durable loans, used car loans, credit card balance transfer and loans to small enterprises. ....

Madhya Pradesh , Andhra Pradesh , Hdbs Npas , Lalitabh Srivastawa , Gross Npas , Hdb Financial Services , மத்யா பிரதேஷ் , ஆந்திரா பிரதேஷ் , எச்டிபி நிதி சேவைகள் ,