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IIM-B jumps in Bloomberg MBA rankings

Stanford Graduate School of Business has retained the top position in Bloomberg Businessweek’s 2026–27 ranking of US business schools, while IIM Bangalore’s Executive Post Graduate Programme climbed to second place in the Asia-Pacific region.Stanford has now ranked No. 1 in the US for eight consecutive years. The University of Pennsylvania’s Wharton School came second, followed by Harvard Business School and Northwestern University’s Kellogg School of Management.The University of Virginia’s Darden School recorded the biggest rise among the top US schools, moving from 10th place last year to fifth.Also Read| St Gallen tops FT Masters in Management ranking; IIM Ahmedabad leads Indian schoolsDartmouth’s Tuck School ranked sixth and the University of Chicago’s Booth School seventh. UC Berkeley’s Haas School dropped from third to eighth.Cornell’s Johnson School and MIT’s Sloan School tied at ninth. Columbia Business School fell two places to 11th.Top 10 US business schoolsRankBusiness schoo...
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Pass UPI costs to RBI, banks, not consumers

Last Tuesday, RBI supported NCPI's introduction of MDR of 0.4% on person-to-merchant (P2M) UPI transactions above ₹2,000 that will kick in from October 15. Much opinion has flowed since, many arguing that fiscal sense dictates that the fintech expense be charged.What it, however, chooses to ignore is the larger fiscal and financial discipline embodied in encouraging a majority price-sensitive society to keep moving towards digital payments and a less-cash society. Such an argument doesn't account for the huge savings made by RBI and banks in reducing printing of currency, and logistics of transfer and maintenance of cash.Also Read: UPI's free lunch is over: Why the 0.4% MDR charge is fair, needed and overdueThe end consumer is price-sensitive. After the latest MDR notice reached vendors, many removed the QR code display from their shops fearing harassment by tax authorities. Many petrol pumps have reportedly already started to insist on cash-only payment. Many are even goin...
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Sebi bars Kore Digital promoters over alleged Rs 541 crore revenue misstatement

Capital markets regulator Sebi has passed an interim order against SME-listed Kore Digital and three of its key managerial personnel after a probe found prima facie evidence of manipulated financial statements, allegedly non-genuine subsidiaries, suspicious accounting entries and diversion of preferential issue proceeds.Sebi has restrained managing director Ravindra Doshi, chief executive officer Chaitanya Doshi and chief financial officer Kashmira Doshi from buying, selling or otherwise dealing in Kore Digital shares until further orders. The regulator has also barred the company and the three individuals from accessing the securities market to raise money from the public.Sebi also directed NSE not to allow Kore Digital to migrate from the NSE Emerge SME platform to the main board until it receives regulatory clearance. A forensic auditor will be appointed to examine the company's books from the date of its listing in June 2023 until March 31, 2026.At the centre of Sebi findings a...
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US Fed chair Kevin Warsh explains why the Federal Reserve raised interest rates

The strengthening of US economy and geopolitics pushing inflation higher were key reasons for the Federal Reserve to raise interest rates, its chair Kevin Warsh said on Wednesday. Reiterating his commitment not to give forward guidance on the rate path, he pointed to trends in the economic data to deliver the Fed's stated objective of price stability.The American economy appears to be strengthening. New hirings, private sector earnings and business capital investment have improved in recent months. Credit flows have been robust, he said at a press conference, adding, "I would be hard pressed to describe broad financial conditions as restrictive. So we removed the dose of accommodation, so that financial and credit conditions would be more consistent with our ultimate objectives.”The Federal Reserve raised the interest rate range by 0.25% to 3.75%-4%. "Economic activity is expanding at a solid pace. While uncertainty remains elevated owing, in part, to geopolitical develop...
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Taxman's JAARing move opens big new debate

Mumbai: In an unsettling decision, the Indian tax office has invoked the Judicial Anti Avoidance Rule (JAAR) to deny treaty benefits to a few Mauritius funds on sale of 'grandfathered shares'.Under the India-Mauritius amended treaty, there is no capital gains tax on profits from sale of grandfathered shares which refer to securities bought before April 1, 2017.Tax officials have typically used General Anti-Avoidance Rules (GAAR) to quash treaty benefits whenever they suspected that a foreign investor's outfit in jurisdictions like Mauritius and Singapore lacked 'commercial substance'. Such offshore investors having a paper office or shell company, with few or no employees, and alleged to have been established primarily to obtain tax benefits.However, in end-March this year, the apex body Central Board of Direct Taxes (CBDT) issued a notification to clarify that earnings from transfer of stocks acquired before April 1, 2017 would not be impacted by GAAR. This came as...
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BMS seeks doubling of EPF wage ceiling

New Delhi: The Bharatiya Mazdoor Sangh (BMS), an affiliate of the RSS, demanded that the wage ceiling for mandatory Employees' Provident Fund coverage be doubled, arguing that the existing threshold failed to keep pace with rising wages and changing employment conditions.The trade union also sought an increase in the eligibility ceilings for Employees' State Insurance (ESI) and statutory bonus.Also read: EPFO launches WhatsApp channel for PF updates"The issue has been pursued through both dialogue and mass mobilisation," BMS in charge of finance sector Girish Arya told ET. "On August 17, we organised a nationwide agitation on various labour issues and have submitted a memorandum to the Prime Minister."The BMS said it has received assurances that the issue would be considered, but a concrete policy decision was still awaited.The demand comes as minimum wages have been revised across states and the government steps up efforts to formalise employment.When a wor...
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RBI backs UPI MDR for wider acceptance

The Reserve Bank of India (RBI) has backed the introduction of Merchant Discount Rate (MDR) on large-value UPI transactions, saying the move will help strengthen the long-term sustainability of India's digital payments ecosystem. In a post on X, the central bank said the measure would enable UPI to continue scaling, innovating and serving consumers and businesses across the country.The RBI said a fair distribution of MDR among ecosystem participants would support continued investment in technology, infrastructure and payment acceptance networks. Such investments, it added, could help expand UPI acceptance, deepen the customer base and sustain growth in transaction volumes.<blockquote class="twitter-tweet"><p lang="en" dir="ltr">The introduction of MDR on large-value UPI transactions (i.e., above ₹2,000) is an important step towards strengthening the long-term sustainability of India’s digital payments ecosystem. It will help UPI in continui...
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