News digest: Forensic audit, cryptocurrency, busiest air routes, and more

From forensic audits to IMF saying India to grow at 7.4% in 2018, BS brings you top stories to keep up with the latest news

Business booms for forensic auditors as firms head to bankruptcy court
 
Forensic departments of large audit firms and independent investigation agencies have been inundated with requests for forensic work following the push to clean up the bad debt mess under the Insolvency and Bankruptcy Code (IBC). According to some estimates, the forensic business linked to the IBC has more than doubled in the past few months, and experts believe it will only increase. Read more
 
RoC halts registering new cryptocurrency exchanges under Companies Act
 

The banking system is not the only one keeping a safe distance from the existing cryptocurrency business players. Opening virtual currency exchanges has become equally tough, especially when words like bit, crypto, coin, virtual are part of a company name. The Registrar of Companies (RoC), under the Ministry of Corporate Affairs, has stopped registering cryptocurrency exchanges under the Companies Act, 2013. In some cases, the RoC is asking for an undertaking from software development- or information technology-related companies that it will not deal with cryptocurrencies such as bitcoins, it is learnt. Read more

 
With nearly 47,500 flights, Mumbai-Delhi is world's third busiest air route
 
It is the third-busiest air route in the world, with as many as 47,500 departures and landings last year.
Yet despite reaching this position, the Mumbai-Delhi route could face serious challenges in sustaining or improving it this year. The reason? Hardly any additional capacity is now available at Mumbai airport to deploy more flights on this route.
But with the demand growing by 10-12 per cent annually, and with no possibility of adding more flights, flyers will soon face a hike in air fares this year. Read more

 
Prime play: Jabong eyes loyalists via VIP slots, to acquire new customers
 
SoftBank Group-backed e-commerce major Flipkart seems to be testing waters again with its own version of loyalty programme — this time, via its fashion arms Myntra and Jabong. This is the platform’s latest move to take on Amazon’s premium membership service Prime.
 
While keeping plans under wraps, Ananth Narayanan, chief executive Myntra and Jabong, said that they have plans for launching a loyalty programme for both the fashion platforms. “We do have plans for loyalty programmes and memberships for Myntra and Jabong. The slots may be one feature of it. There would be many other things that are actually being thought about in the loyalty programme. We are planning to launch something, but it is going to be reasonably special in the fashion space,” said Narayanan. Read more

 
India to grow at 7.4% in 2018 as against China's 6.8%: IMF at WEF in Davos
 
India is projected to grow at 7.4 per cent in 2018 as against China's 6.8 per cent, the IMF said on Tuesday, making it the fastest growing country among emerging economies following last year's slowdown due to demonetisation and the implementation of the GST.
In its latest World Economic Outlook (WEO) update released today in Davos, Switzerland on the sidelines of the World Economic Forum, the International Monetary Fund has projected a 7.8 per cent growth rate for India in 2019. Read more