Page 12 - Banking Finance April 2025

ROUNDUP

Indian Standards (BIS) certifications, agements. This focused approach deals worth more than $30 billion be-
especially in sectors such as electron- seeks to enhance the overall quality of tween 2022 and 2024, according to a
ics, toys, machinery, construction ma- financial reporting. joint report by Grant Thornton Bharat
terials, and consumer goods. and the Association of Healthcare Pro-
These counterfeit products often by- EPFO Retains 8.25% Inter- viders of India (AHPI).
pass safety regulations, posing risks to est Rate for FY25 The hospital segment led the invest-
consumers. A centralized system, GTRI ments, with M&A activity totaling
argues, would curb the misuse of BIS The Employees' Provident Fund $6.74 billion and PE investments
labels and strengthen quality assur- Organisation (EPFO) has recommended amounting to $4.96 billion, accounting
ance mechanisms, thereby protecting an unchanged interest rate of 8.25% for 40% and 38% of the total deal vol-
domestic markets and maintaining the for the financial year 2024-25, main- ume, respectively. The report noted
integrity of certification protocols. taining the same rate offered for that high-demand specializations like
FY2023-24. The announcement was oncology, cardiology, and maternal
made following the Central Board of
NFRA to Focus Inspections care command valuation multiples
Trustees meeting, as detailed in a PIB ranging from 20 to 30 times EBITDA,
on Audit Firms with High- press release dated February 28, 2025.
indicating strong investor confidence in
Impact Client Base The proposed rate will be formally no- India's healthcare sector.
The National Financial Reporting Au- tified by the Government of India, af-
thority (NFRA) is set to shift its audit ter which EPFO will credit the interest Amul Ranked Among
inspection strategy by targeting ac- to subscribers' accounts. While most
countancy firms handling a large num- members are aware of the credited India's Top Three Most
ber of listed clients, according to Chair- interest, few understand the underly- Valued Brands
man Ajay Bhushan Prasad Pandey. In- ing calculation process. EPFO encour- Amul, operated by the Gujarat Coop-
stead of merely increasing the number ages members to use its available re- erative Milk Marketing Federation
of entities inspected, NFRA aims to sources to verify the interest amounts (GCMMF), has secured the third spot
prioritize firms that have a significant credited monthly to their accounts.
in the YouGov India Value Rankings
impact on the audit ecosystem. 2025, becoming the only FMCG brand
Pandey noted that data analytics will India's Healthcare Sector in the top three alongside Amazon and
be used to flag potential negligence or Attracts $30 Billion in Flipkart. This achievement reflects
wrongdoing, guiding the selection pro- Amul's strong cooperative business
cess. He emphasized the need for au- Deals Over Two Years model, which offers fair returns to
ditors to maintain professional skepti- India's healthcare and pharmaceutical farmers while ensuring affordability
cism and independence, rather than industry recorded 594 merger and ac- and quality for consumers.
aligning too closely with client man- quisition (M&A) and private equity (PE)
The brand ranks first in tier-2 cities and
among the top three in tier-1 and tier-
India's Q3 GDP Grows 6.2%, Full-Year Projection 3 cities. Jayen Mehta, MD of GCMMF,
Raised to 6.5% emphasized that the recognition un-
derscores Amul's enduring trust and its
India's gross domestic product (GDP) expanded by 6.2% in the October-De- role in celebrating the International
cember 2024 quarter, buoyed by increased government and consumer spend- Year of Cooperatives through inclusive
ing, strong farm output, and resilient exports, according to the National and sustainable growth.
Statistical Office (NSO). The growth rate marked an improvement from 5.6%
in the previous quarter and reversed the slowdown seen in July.
Cybercrime Tracking Sys-
For the full fiscal year 2024-25, the NSO revised its growth forecast to 6.5%,
up from 6.4%, though below the 9.2% recorded in 2023-24. To meet the tem 'Pratibimb' Leads to
target, GDP must grow by 7.6% in the final quarter-a challenging task amid Over 6,000 Arrests
global economic uncertainty and the effects of U.S. tariff policies. The Union Home Ministry's cybercrime

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