The ICAI is scrutinizing the financial statements of IndusInd Bank and Gensol Engineering, a process expected to last at least six months. This review follows IndusInd Bank's disclosure of a significant accounting lapse and regulatory scrutiny of Gensol Engineering.

Sebi reforms REITs and InvITs norms to align disclosures, cut entry size; allow broader role for merchant bankers
https://timesofindia.indiatimes.com/business/india-business/sebi-reforms-reits-and-invits-norms-to-align-disclosures-cut-entry-size-allow-broader-role-for-merchant-bankers/articleshow/121937418.cms

Sebi's board has approved amendments to ease business operations for REITs, InvITs, and merchant bankers. These changes include greater cash-flow flexibility, clearer public unitholding definitions, harmonized reporting timelines, and reduced minimum investment for privately placed InvITs. Merchant bankers can now conduct certain non-Sebi-regulated financial services under the same entity, subject to regulatory safeguards, enhancing operational efficiency.

Air India to cut overseas flights on wide-body aircraft by 15% at least till mid-July
https://timesofindia.indiatimes.com/business/india-business/air-india-to-cut-overseas-flights-on-wide-body-aircraft-by-15-at-least-till-mid-july/articleshow/121939484.cms

Air India will cut international flights using wide-body planes by 15%. This reduction is effective immediately and will last until at least mid-July. The airline cites airspace closures and enhanced checks on Boeing 787s as reasons. These factors have increased flight times and reduced aircraft availability. The airline operated 462 flights between June 2 and 17, but cancelled 83 flights.

HDFC Bank's chief HR officer Razdan quits after 7 years
https://timesofindia.indiatimes.com/business/india-business/hdfc-banks-chief-hr-officer-razdan-quits-after-7-years/articleshow/121942543.cms

Heat insurance: Rs 3,000 for workers
https://timesofindia.indiatimes.com/business/india-business/heat-insurance-rs-3000-for-workers/articleshow/121942616.cms

Digit Insurance has initiated payouts for migrant laborers in Noida due to extreme heat, utilizing a parametric insurance model that triggers payments when temperatures exceed specific thresholds for consecutive days.

Optiemus inks sourcing deal with 3rd China co
https://timesofindia.indiatimes.com/business/india-business/optiemus-inks-sourcing-deal-with-3rd-china-co/articleshow/121942619.cms

OnePlus is set to outsource the production of its audio and IoT products to Optiemus Electronics in Noida, aligning with its localization strategy in India. This move follows similar partnerships between Optiemus and other Chinese electronics giants like Xiaomi and RealMe.

Look for solutions to prevent cyber frauds: FM to fintechs
https://timesofindia.indiatimes.com/business/india-business/look-for-solutions-to-prevent-cyber-frauds-fm-to-fintechs/articleshow/121942623.cms

Derivatives: StanChart under RBI lens
https://timesofindia.indiatimes.com/business/india-business/derivatives-stanchart-under-rbi-lens/articleshow/121942630.cms

Standard Chartered is under the Reserve Bank of India's (RBI) examination due to identified deficiencies in its risk management procedures and irregularities in the sale of derivatives. The concerns were raised after sales of target redemption forwards to small and medium enterprises, where buyers were allegedly not fully informed about potential risks, leading to scrutiny of the bank's processes.

Rising crude prices pose a risk for India, says CEA
https://timesofindia.indiatimes.com/business/india-business/rising-crude-prices-pose-a-risk-for-india-says-cea/articleshow/121942636.cms