India's MCX Bourse Said to Launch Electricity Futures This Year
Multi Commodity Exchange of India Ltd., the nation's largest commodities bourse, will introduce electricity futures later this year, according to people familiar with the matter who asked not to be identified as the information is still private.
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India's PB Fintech posts rise in quarterly profit on health insurance boom
(Reuters) -India's PB Fintech reported a 40% rise in first-quarter profit on Thursday, as more consumers turned to digital platforms for insurance products. Analysts said PB Fintech benefited from increasing demand in India's largely untapped insurance market. Through its Policybazaar platform that helps users select insurance coverage and Paisabazaar, which matches borrowers with lenders, the company is cashing in on India's digital finance boom. The company posted a consolidated net profit of 845.9 million rupees ($9.7 million) for the three months ended June 30, up from 601.8 million rupees a year earlier. PB Fintech's revenue from operations rose 33% to 13.48 billion rupees in the quarter, led by a 40% jump in insurance broking, its largest segment. The company's insurance premium grew 36%, led by a 65% rise in new health insurance policies. ($1 = 87.5130 Indian rupees)
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ICAI revises tax audit limits for chartered accountants
The Institute of Chartered Accountants of India (ICAI) has announced revised norms for the maximum number of tax audits a chartered accountant can undertake annually. Effective from 1 April 2026, the guidelines aim to enhance audit quality by maintaining the existing limit of 60 tax audits per member per financial year, applicable to both individual and partnership capacities. The revised guidelines specify that the limit of 60 tax audits cannot be distributed or shared among partners in a chartered accountants (CA) company. However, this limit excludes tax audit assignments under clauses (c), (d) and (e) of section 44AB, concerning sections 44AE, 44ADA and 44AD. Additionally, revised tax audit reports will not count towards the 60-audit limit. These changes were decided in ICAI's 442nd and 443rd meetings held on 26–27 May 2025 and 30 June–1 July 2025, respectively. The guidelines aim to ensure that the quality of tax audits remains uncompromised. In a separate development, the ICAI inaugurated the ICAI International ADR Centre (IIAC), a Section 8 company, to promote alternate dispute resolution (ADR) mechanisms in India. The initiative represents ICAI's move into ADR, an area intersecting commercial, legal and economic interests. In a statement, the ICAI said that these centres will enhance the commercial dispute resolution ecosystem by providing a transparent, technology-enabled mechanism. The centres will operate under a governance framework, ensuring integrity, neutrality, and professional excellence for both domestic and international stakeholders. ICAI president Charanjot Singh Nanda said: 'In this evolving business ecosystem, effective dispute resolution is no longer a procedural formality; it is a strategic necessity and IIAC aims to provide this necessity with credibility, neutrality and efficiency, values that are at the core of ICAI's professional ethos. 'The IIAC will serve as a specialised institutional platform offering structured and time-bound arbitration, mediation, conciliation and negotiation services that are professionally managed, process-driven and globally benchmarked.' "ICAI revises tax audit limits for chartered accountants " was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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Nvidia in the Crosshairs: China Just Escalated the AI Chip War
Nvidia (NASDAQ:NVDA) just hit another speed bump in China. Days after the U.S. rolled back export restrictions on its H20 chipdesigned specifically to comply with sanctionsChinese regulators summoned Nvidia to address alleged serious security vulnerabilities. The Cyberspace Administration of China (CAC) raised concerns tied to U.S. lawmakers' comments suggesting these chips may carry location-tracking or shutdown features. The agency demanded internal documentation and clarification from Nvidia's local team. No official details were shared beyond that, but investors are watching closely. The stock gained 2.5% on Germany's Tradegate, supported in part by strong earnings from Microsoft and Meta, but this probe introduces fresh uncertainty. Warning! GuruFocus has detected 5 Warning Signs with NVDA. The timing couldn't be more delicate. CEO Jensen Huang had just wrapped up a high-profile China visit, spotlighting local champions like DeepSeek and Tencent while calling China a global AI powerhouse. Meanwhile, U.S. officials had been framing the H20 green light as a goodwill gesturehoping it would unlock better access to China's rare earths. But now, Chinese regulators are signaling they're not quite sold. Local chipmakers like SMIC and Cambricon popped more than 5% following the CAC's statement, suggesting markets see this as a tailwind for China's self-reliance push. As Forrester's Charlie Dai put it: H20 sales could now face delays, just as China doubles down on homegrown tech. Underneath all this is a bigger chessboard. The U.S. had loosened chip export rules after trade talks in London, and in return, China allowed more outbound flow of rare-earth minerals. But the CAC's sudden scrutiny of the H20 chipespecially one already stripped down to meet U.S. compliancefeels like a move to keep pressure in the trade negotiations. At the same time, domestic players like Huawei are rolling out rivals like the Ascend 910C, which are already being compared to Nvidia's chips for inference workloads. As trade officials sidestep direct comment, one thing is clear: Nvidia's foothold in China remains fragile, and investors will need to watch how this unfoldsone regulatory move at a time. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
