Banking & Finance Industry
Brief Industry Introduction
The Banking and Financial Services sector is the lifeline of the Indian economy, enabling capital flow, credit creation, and financial inclusion across industries and individuals. With digital transformation, stringent RBI/SEBI/IRDAI regulations, and adoption of global accounting standards, the sector is evolving rapidly. However, it continues to face challenges in managing non-performing assets, complex taxation of financial instruments, risk of cyber frauds, and heightened compliance requirements.
At Mangesh Kadam & Associates, we combine regulatory knowledge, risk management expertise, and sector-focused advisory to support banks, NBFCs, fintechs, insurance companies, and investment firms with compliance and growth.
Key Challenges & How We Help
RBI, SEBI & Regulatory Compliance
Challenge
Banks, NBFCs, and financial institutions must comply with extensive RBI guidelines, SEBI reporting, risk-based supervision, and prudential norms. Frequent circulars, dynamic reporting requirements, and penalties for non-compliance make it difficult to keep up.
Our Role
We provide complete support in regulatory filings, concurrent audits, system audits, and statutory reporting. Our structured monitoring framework ensures error-free submissions, timely compliance, and reduced regulatory risks.
Non-Performing Assets (NPAs) & Credit Risk Management
Challenge
Growing NPAs, delayed recoveries, and weak credit monitoring systems impact profitability and capital adequacy. Incorrect NPA classification or inadequate provisioning further attract regulatory penalties.
Our Role
We conduct credit audits, review NPA classifications, evaluate provisioning adequacy, and assist in designing monitoring mechanisms. Our audits identify stress accounts early, recommend recovery strategies, and strengthen credit risk frameworks.
Taxation of Financial Instruments & Cross-Border Transactions
Challenge
Taxation of derivatives, securitization, interest income, and international financing is highly complex. Misinterpretation of provisions can lead to litigations, tax demands, and compliance failures.
Our Role
We provide advisory on taxation of financial products, TDS compliances, and structuring of cross-border transactions. Our expertise in handling advance rulings, tax audits, and regulatory filings ensures tax efficiency and reduced litigation exposure.
Risk Management & Fraud Prevention
Challenge
The sector is vulnerable to operational lapses, cyber frauds, internal collusion, and money-laundering risks. Weak internal controls and inadequate monitoring systems increase the chance of financial and reputational losses.
Our Role
We carry out risk-based internal audits, fraud investigations, technology risk & control review. Our practical SOPs and control frameworks strengthen governance, minimize fraud risks, and build confidence among regulators and stakeholders.
Income Tax & Indirect Tax Compliance
Challenge
Financial institutions must comply with multiple tax provisions – Income Tax Act, TDS/TCS rules, GST applicability on financial services, and Ind AS reporting requirements. Misclassification or wrong tax positions can result in penalties and tax disputes.
Our Role
We manage complete tax compliances including advance tax, tax audits, GST advisory, TDS reconciliations, and tax litigation support. Our specialized team ensures accurate reporting, tax optimization, and smooth regulatory compliance.
Financial Reporting & Transparency
Challenge
Our Role
We provide expert assistance in financial reporting, Ind AS/IFRS implementation, and disclosure compliance. Our independent audits ensure accuracy, transparency, and early detection of irregularities.
Why Choose Us for Banking & Finance?
Specialized BFSI Knowledge
Deep understanding of sector-specific regulations, reporting requirements, and risk challenges. We bring years of experience in handling audits and compliances for banks, NBFCs, fintechs, and financial institutions.
Comprehensive Tax & Ind AS Expertise
Expertise in complex areas like Ind AS implementation, financial instrument accounting, and cross-border taxation. We ensure accurate reporting and compliance with global standards.
Risk & Fraud Control Excellence
Strong focus on fraud detection, IT audits, forensic reviews, and governance frameworks that strengthen investor and regulator confidence.
Future-Ready Digital Advisory
We guide institutions in navigating digital disruption, fintech collaborations, and technology-driven compliance with a forward-looking approach.