EPFO has introduced new rules for companies running their own provident fund trusts. Instead of mandatory annual audits, oversight will shift to a risk-based audit system. The interest rates offered by such trusts will be capped, and exempted establishments can keep their status even after mergers and acquisitions. The changes are designed to strengthen governance while easing compliance for businesses.
The RBI has conducted special audits to verify whether Indian banks are meeting liquidity criteria, essentially checking that their balance sheets hold up under regulatory expectations. The move signals the central bank’s focus on compliance and risk monitoring, using targeted reviews to confirm banks are following liquidity rules rather than assuming they are.
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US shortseller Viceroy is pressuring Vedanta over its Electrosteel (ESL) turnaround story, alleging the company is guzzling cash and pointing to audit red flags. Vedanta counters that ESL is still a key subsidiary and says revenues have doubled since the takeover. The dispute adds fresh heat to corporate governance concerns around the deal.
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