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Tips for SMEs & Start-ups to secure their financial data from Cybersecurity Threats
As we enter the 75th year of India’s independence it is important to recognise the 6.3 Crore plus SMEs who are the second largest employers of India after agriculture. They provide 80% of jobs with just 20% investment. They contribute around 31% to nations GDP and 45% of the overall exports and 34% of manufacturing output. SMEs including start-ups are
RBI – Master Direction on Digital Payment Security Controls
RBI has issued a Master Direction to provide necessary guidelines for the regulated entities to set up a robust governance structure and implement common minimum standards of security controls for digital payment products and services. Refer : Master Direction on Digital Payment Security Controls
Bad Bank : Is this a Good Idea?
In her latest Budget-2021 our Finance Minister has floated the idea of BAD BANK. The concept behind the Bad Bank is to clean the Balance Sheet of all the PSU Banks which are getting clogged due to rising NPAs. The Government intend to open a separate bank which will take over all the NPAs. Government will deal with all those
Third Party Risk Management
The recent Covid19 pandemic has made companies relook at their third-party relationships as for some companies supply chains for stressed or reliance on cloud providers increased, The view point pre-pandemic was that majority of third parties used can easily be replaced in the open market due to large number of options. Managements rated third party related risks low or quoted
Glut Supply Situation of Crude Oil – An over view
What is the Negative Pricing of Crude Oil? Oil Vendors willing to pay to have oil taken off their hands instead of asking for any price otherwise left with no space for keeping the crude oil being produced, its disposal becomes very punitive/ dearer with the strict environment stature globally. In short, it is the situation of – Oversupply. Right
Clarification on Tax related issues for ye 31.03.2020
1) FY 2019-20 is not at all extended till 30th June, only the date is extended for some compliance’s. 2) Belated returns or Revised returns for the FY 2018-19 can be filed till 30th June. 3) In the FY 2019-20, income is taxable till 31st March only and not upto 30th June, i.e. for taxability of income financial year is
FM Nirmala Sitharaman Announcements on 24th March – COVID-19
FM Nirmala Sitharaman today announced the following relaxations on compliance requirements due to COVID-19: 1. INCOME TAX – Last date of filing Income Tax Return FY 2018-19 increased to 30.06.2020 – Interest Rate delayed payment reduced from 12% to 9% – Delayed deposit of TDS interest rate 9% till 30.06.2020 2. Due date extended to 30.06.2020 – Aadhar- Pan Linking
BUDGET 2020 ANALYSIS
G R A N D M A R K & ASSOCIATES (GMA) takes pleasure in presenting a critical analysis of Budget 2020. We present this analysis after going through the Finance bill thoroughly. Our Budget Analysis is a team-work of Partners where we try to explain critical issues in the most simplistic manner. The 6th Union budget of Modi Era
Auditing Robotic Process Automation (RPA)
Robotic process automation (RPA) is automation of a process by using software with artificial intelligence (AI) and machine learning capabilities to handle high-volume, repeatable tasks needed people to do. A number of years back this had started with OCR based data entry into EPR’s especially around accounts payable. Recently with the advent of AI and ML, RPA has learning capabilities
Supporting Global Action on Poverty (GAP)
Head Held High (http://head-held-high.org) is a collective of everyday persons with intentions to eradicate poverty, by changing one life at a time. They empowers changemakers to create bold and enterprising visions to amplify their effect against poverty. Recently G R A N D M A R K & Associates supported them in one of their initiatives to further empower their
