by Muzammil Patel, Partner, and Rahul Murthi, Senior Manager, Deloitte Touche Tohmatsu India LLP
In 2016 we have already witnessed seismic global events that shed light on the uncertainties that treasurers have to navigate in global financial markets. India too has witnessed its fair share of events in 2016 – a new governor of the Reserve Bank of India (RBI), India’s central bank, who is expected to take office post September, a new Monetary Policy Committee, a landmark taxation bill that is nearing finalisation, convergence with IFRS accounting standards, relaxations in FDI norms and policies to further promote foreign investments in India.
These local developments coupled with global uncertainties have thrown up opportunities and challenges for CFOs and corporate treasurers in India. They have also opened up avenues for foreign investors and multinational corporations operating in India. With increased need to risk management and potential for greater flows, the spotlight on treasury operations has never been so bright.