Dear finance professionals and students, welcome to Podcast of FCA Deepak Rao a practicing Chartered Accountant.
• Vodafone Idea’s financial turnaround is in jeopardy as its ?25,000 cr debt-funding plan faces delays following the Supreme Court’s AGR ruling. The delay has raised concerns about Vi’s ability to invest in 4G and 5G expansion, crucial for competing with rivals Jio and Airtel. Analysts predict government intervention, including converting dues into equity, to prevent a collapse.
• Indian companies, including HUL and Diageo, are adopting flexible benefits programs to cater to the diverse needs of their multigenerational workforce. These programs allow employees to customize their benefits packages by choosing from a range of options such as health insurance, wellness programs, and financial counselling, leading to increased employee satisfaction and retention.
• Major electronics companies like Samsung, Apple, and Whirlpool are importing less, marking a potential first-time occurrence. This shift is attributed to the ‘Make in India’ initiative promoting local manufacturing and component sourcing. While mobile phone localisation is steadily increasing, home appliances have achieved significant local sourcing.
• Walt Disney reported a $1.5 billion impairment charge related to its Star India transaction, reflecting a fair value adjustment. The charge includes $800 million in cumulative foreign currency translation losses. Disney completed the merger of Star India with Reliance Industries’ Viacom18, creating JioStar, on November 14.
• Indian banks are turning to certificates of deposit (CDs) to bridge the gap between loan demand and deposit growth. CD issuances have surged by 69% this fiscal as banks compete for deposits amid tight liquidity. Analysts predict that deposit rates will remain elevated despite anticipated rate cuts.
• The Goods and Services Tax Network (GSTN) has identified an issue where some taxpayers are seeing duplicate invoices in GSTR-2B for both September 2024 and October 2024. The GSTN team is actively working to resolve this matter and assures taxpayers that the issue is being addressed on priority.
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Vande Mataram
Jai Hind
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