Cover Story A shaky vision for Financial Inclusion
Outlook US Dollar
Stats Share of Public sector in capital formation
Emerging Country Peru
In Focus USA is second to China in monetary stimulus
The document provides information on the upcoming IPO of Punjab & Sind Bank Ltd, a public sector bank in India. Some key details include:
- The IPO will be priced between Rs 113-120 per share and open from December 13-16, 2010 on the NSE and BSE.
- The IPO aims to raise Rs 480 crore by offering 40 million shares, representing 18% of the post-issue capital.
- Punjab & Sind Bank has over 100 years of operations and a network of 926 branches and 63 ATMs predominantly in northern India.
- Key risks include volatility in interest rates impacting net interest income and non-compliance with RBI regulations.
Recent development in Indian financial systemSatyamKumar497
The Reserve Bank of India will form a regulatory sandbox for financial technology and set up data science labs to promote innovation in digital lending. It will also conduct open market operations to inject liquidity into the economy. The Insurance Regulatory and Development Authority of India will shift to a risk-based capital regime. The validity of the Aadhaar scheme was upheld by the Supreme Court. An independent payments regulatory board will be set up within the RBI. DBS Bank was named the best bank in the world for 2018 by Global Finance.
This document summarizes recent developments in the Indian banking sector. It discusses how total bank assets have grown substantially over the last decade to Rs 82,99,220 crore. It also notes that bank revenue and profits have increased significantly from 2001-2010. The growth has been driven by foreign investment and conservative RBI policies. Recent union budgets have proposed investments to capitalize banks and promote financial inclusion and agricultural lending. The banking sector is expected to continue growing in line with the strong projected growth of the Indian economy.
The document provides details on selecting a portfolio of 10 BSE Sensex companies with a total investment of Rs. 10,00,000 based on analysis to identify stocks that will provide the best returns over 1-2 years. It describes performing fundamental analysis on company financials and market conditions, technical analysis of stock trends, and sector analysis. A portfolio is presented with investments in 8 companies totaling Rs. 10,00,000 that was selected after analyzing each company and sector trends like banking, using factors like growth prospects, government policies, macroeconomic indicators, and global economic conditions.
The document summarizes key concerns and outlook for banks in Indonesia based on meetings with banks and companies during a recent trip to Indonesia. The top three concerns expressed by banks are: 1) currency volatility due to the rupiah's large depreciation, 2) increasing regulatory intervention, and 3) potential delays in government spending if the tax revenue target is missed. Large banks are expected to see slowing earnings growth while smaller banks should see a recovery as margins improve and credit costs stabilize. Among smaller banks, BTPN is the preferred pick.
The document is a newsletter providing banking news and articles. Some of the key points covered in the summary:
- India's economy has overtaken France to become the 6th largest economy worldwide, according to World Bank figures. However, India's per capita GDP remains much lower than France's.
- The RBI has made it mandatory for the name of the demand draft purchaser to be printed on the draft in order to address money laundering concerns.
- Outgoing CEA Arvind Subramanian believes India needs more private banks and only 3-5 public sector banks. He also commented on the relationship between RBI and the government.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
- The document discusses FundsIndia rolling out a new user interface for its website that has received positive feedback.
- Over the next few months, FundsIndia will introduce new features like social features, improved fund searching, and customized reporting to make investing through their platform a more unique experience.
- The new interface provides a foundation to support these new functionalities being added.
The document provides information on the upcoming IPO of Punjab & Sind Bank Ltd, a public sector bank in India. Some key details include:
- The IPO will be priced between Rs 113-120 per share and open from December 13-16, 2010 on the NSE and BSE.
- The IPO aims to raise Rs 480 crore by offering 40 million shares, representing 18% of the post-issue capital.
- Punjab & Sind Bank has over 100 years of operations and a network of 926 branches and 63 ATMs predominantly in northern India.
- Key risks include volatility in interest rates impacting net interest income and non-compliance with RBI regulations.
Recent development in Indian financial systemSatyamKumar497
The Reserve Bank of India will form a regulatory sandbox for financial technology and set up data science labs to promote innovation in digital lending. It will also conduct open market operations to inject liquidity into the economy. The Insurance Regulatory and Development Authority of India will shift to a risk-based capital regime. The validity of the Aadhaar scheme was upheld by the Supreme Court. An independent payments regulatory board will be set up within the RBI. DBS Bank was named the best bank in the world for 2018 by Global Finance.
This document summarizes recent developments in the Indian banking sector. It discusses how total bank assets have grown substantially over the last decade to Rs 82,99,220 crore. It also notes that bank revenue and profits have increased significantly from 2001-2010. The growth has been driven by foreign investment and conservative RBI policies. Recent union budgets have proposed investments to capitalize banks and promote financial inclusion and agricultural lending. The banking sector is expected to continue growing in line with the strong projected growth of the Indian economy.
The document provides details on selecting a portfolio of 10 BSE Sensex companies with a total investment of Rs. 10,00,000 based on analysis to identify stocks that will provide the best returns over 1-2 years. It describes performing fundamental analysis on company financials and market conditions, technical analysis of stock trends, and sector analysis. A portfolio is presented with investments in 8 companies totaling Rs. 10,00,000 that was selected after analyzing each company and sector trends like banking, using factors like growth prospects, government policies, macroeconomic indicators, and global economic conditions.
The document summarizes key concerns and outlook for banks in Indonesia based on meetings with banks and companies during a recent trip to Indonesia. The top three concerns expressed by banks are: 1) currency volatility due to the rupiah's large depreciation, 2) increasing regulatory intervention, and 3) potential delays in government spending if the tax revenue target is missed. Large banks are expected to see slowing earnings growth while smaller banks should see a recovery as margins improve and credit costs stabilize. Among smaller banks, BTPN is the preferred pick.
The document is a newsletter providing banking news and articles. Some of the key points covered in the summary:
- India's economy has overtaken France to become the 6th largest economy worldwide, according to World Bank figures. However, India's per capita GDP remains much lower than France's.
- The RBI has made it mandatory for the name of the demand draft purchaser to be printed on the draft in order to address money laundering concerns.
- Outgoing CEA Arvind Subramanian believes India needs more private banks and only 3-5 public sector banks. He also commented on the relationship between RBI and the government.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
- The document discusses FundsIndia rolling out a new user interface for its website that has received positive feedback.
- Over the next few months, FundsIndia will introduce new features like social features, improved fund searching, and customized reporting to make investing through their platform a more unique experience.
- The new interface provides a foundation to support these new functionalities being added.
The document discusses India's rising non-performing assets (NPAs) in the banking sector. It notes that NPAs have ballooned to over $180 billion, equal to 11.17 lakh crores rupees, primarily driven by rising corporate debt. A small number of large companies account for the majority of stressed assets. The rising NPAs pose significant risks to banks and require large capital infusions to meet regulatory requirements. In the short-term, resolution of NPAs will be challenging but consumption growth and economic reforms could help reduce debt issues in the medium to long-term.
The Economic Survey of India 2008-2009 makes several predictions and assessments:
1) It predicts GDP growth of 7.75% if the global economy improves, or 6.25% if the global recession persists.
2) It claims high savings and investment, rural growth, and resilient services exports have protected India's economy despite global conditions.
3) It argues the worst effects may be over and recent measures could facilitate a quick "U-shaped recovery", subject to some factors outside India's control.
The document discusses the monetary and fiscal policies of India. It defines monetary policy as actions by the Reserve Bank of India to influence money supply, interest rates, and credit availability to achieve objectives like price stability and economic growth. It outlines the instruments of monetary policy like bank rate, cash reserve ratio, and open market operations. Fiscal policy relates to government spending and taxation and uses instruments like public expenditure, taxation, public debt, and deficit financing to promote growth, employment and welfare. The document provides details on these policies and their objectives, instruments, implementation and limitations.
Current trends in banking sector (2015) EditionIsha Desai
The document discusses current trends in the Indian banking sector. It outlines that banks play an important role in capital formation by mobilizing savings and channeling them into productive investment. It then discusses trends in key sectors such as industry, small businesses, agriculture, e-commerce, and foreign exchange. Recent union budgets have increased caps on foreign investment and recapitalized public sector banks. The Reserve Bank of India helps implement monetary policy and focus development in different sectors. Overall, the banking sector is growing and adapting to increasing technology and customer needs.
This document provides a 13,716 word analysis of the strategies of Canada's "Big Five" banks - RBC, BNS, TD, BMO, and CIBC. It begins with a literature review on industry analysis, strategy analysis frameworks, and various strategic perspectives. The methodology section outlines a 3-step approach: 1) industry analysis using Porter's Five Forces, 2) individual bank strategy analyses, and 3) strategic evaluations. The results section finds that while the banks have comparable domestic strategies, their international strategies differ significantly. It also determines that the banks formulate and implement stable, long-term strategies. The conclusion is that the banks increasingly differentiate themselves, particularly regarding international growth strategies.
This document provides an overview of the Indian mutual fund industry and investment options. It discusses the different types of mutual fund schemes available across equity, debt, hybrid, and other categories. It also provides summaries of various SBI mutual fund schemes, including information on investment objectives, portfolio allocations, and past performance. The document aims to help investors understand the mutual fund landscape and select appropriate funds based on their investment goals and risk tolerance.
This document provides an overview and snapshot of various equity and debt mutual fund schemes offered by SBI Mutual Fund. It includes details such as the fund name, type of scheme, allotment date, fund manager, ideal investment horizon, minimum and additional investment amounts, exit loads, options available, and minimum SIP amounts for 27 equity schemes and 16 debt schemes. Information on the managing director's message, market overview, how to read factsheets, and comparative performance of all schemes is also included.
This document provides an overview of the Pakistani banking sector in 2014. It notes that while macroeconomic conditions improved last year, it was a challenging year for banks. Banks had shifted away from private sector lending after the 2008 financial crisis and instead focused on low-risk government bonds. This led to declining private sector credit and economic growth. However, government bond issuance boosted bank profits in 2014 without real banking activity. The document calls for banks to refocus on commercial and private sector lending in 2015, such as consumer, SME, mortgage, and corporate lending, to maintain profitability as bond issuance declines. It also discusses challenges around improving recovery laws, expanding financial inclusion, and growing the Islamic banking sector.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
The document provides an overview of the Indian banking industry. It discusses key trends such as rising credit growth, increasing assets and money supply, and growing interest income. Technology innovations and policy support are driving factors for future banking sector expansion. However, non-performing assets pose a risk, which regulators are taking steps like debt resolution plans and enhanced KYC checks to mitigate. Overall the market outlook for Indian banks remains positive due to continued economic growth, infrastructure investments, and banks' focus on new technologies.
Finance companies, central bank of nigeria and economic developmentAlexander Decker
This document summarizes an empirical study that examines the relationship between Central Bank of Nigeria (CBN) regulatory activities, finance house activities, and economic development in Nigeria from 1992-2010. It uses gross domestic product (GDP) as a measure of economic development and proxies CBN activities with minimum paid up capital and shareholders fund, and finance house activities with domestic credit and total assets. The study finds that a significant relationship exists between finance house activities and economic development, but that CBN regulatory activities have no significant relationship with finance house operations. It recommends policies to encourage existing finance houses and license new ones to better support Nigeria's overall economy.
The document discusses recent economic and financial news in Sri Lanka. It notes that the Central Bank reduced the Statutory Reserve Requirement by 2 percentage points to 6% to boost lending. It also discusses Moody's changing Sri Lanka's outlook to stable from positive due to concerns over the external payments position and pace of fiscal consolidation. Several other topics covered include a drop in GDP growth, Japan becoming Sri Lanka's largest lender, and a forecast of GDP growth being negatively impacted by fuel price increases.
Banking sector development and economic growth slides for presentation editedComrade Ibrahim Gani
This document summarizes a study on the relationship between banking sector development and economic growth in Nigeria. It finds that while several banking reforms have been implemented, real sector access to financing remains difficult, with high interest rates discouraging bank borrowing. After reviewing theories and prior studies on the finance-growth nexus, the document describes the study's methodology, which uses cointegration and vector error-correction models to analyze annual data from 1970-2010 on GDP, financial indicators like credit to GDP ratios, and other variables. The results show a long-run equilibrium relationship between the variables. In particular, higher credit to the private sector, government expenditure, and interest rate spreads negatively impact GDP, while liquid liabilities and trade openness positively influence
This is a presentation targeted to non-economics major, to understand where does money come from and how to achieve sustainability of bank business. The script is available at http://getthingsright.blogspot.com/2010/05/1-opening-banking-business-is-one-of.html
The document discusses the state of the Indian banking system. It notes that Indian banks have emerged stronger under regulatory oversight. State Bank of India improved its position in international rankings and saw its brand value increase. Nationalized banks accounted for over half of aggregate deposits, while public sector banks held over half of total bank credit. The government infused additional capital into public sector banks and passed banking reforms aimed at expanding their access to capital markets.
The document summarizes economic and financial news from Sri Lanka in March 2010. It reports that Commercial Bank was named Sri Lanka's best bank for the 12th consecutive year. It also summarizes Commercial Bank's financial results, noting maintained profitability in 2009 despite challenging conditions. Additionally, it provides overviews of IMF views on Sri Lanka's economy, the top 10 billionaires in the world according to Forbes, and an analysis of Sri Lanka's fiscal performance and 2010 budget outlook.
Indian Banking entering the new era of Basil III and Financial InclusionAnmol Narang
The document discusses non-performing assets (NPAs) in the Indian banking sector and how upcoming Basel III regulations and financial inclusion efforts will impact the sector. It provides details on how NPAs are classified and calculated. Global NPA levels are compared, showing they are not solely correlated with GDP and are influenced more by economic conditions and policies. Factors influencing Indian NPAs are analyzed, such as GDP growth, exchange rate fluctuations, and stock market performance.
The document provides an overview of domestic and global macroeconomic news and performance of key indices for the week of September 21-25, 2015. It notes that the US Fed reiterated the possibility of a rate hike in the next 3-6 months and that the RBI is expected to cut rates by 25 basis points at its upcoming policy review. Key sectors like auto, private banks, IT and FMCG are viewed positively from a 2-3 year perspective. The indices data indicates declines across most sectors for the week while commodities like crude saw prices fall and the rupee depreciated against the USD but appreciated against other currencies.
This document analyzes the performance and competitive position of state-owned commercial banks in Bangladesh from 2009-2012. It finds that while these banks have achieved stable growth in deposits, loans, and branches, they have struggled to improve key financial metrics like net profit, returns, and reducing non-performing loans. Trend analysis found positive growth in some areas but negative trends or low correlation for other financial indicators. The study aims to evaluate these banks' performance, conduct competitive analysis, and provide recommendations for improvement. Secondary data is used from annual reports and other sources to analyze metrics and compare the four largest state-owned commercial banks in Bangladesh.
pestel Analysis of Banking Sector in bangladesh Arich hasan
The document analyzes the PESTEL factors affecting the banking sector in Bangladesh. It discusses the political, economic, social, technological, environmental, and legal factors. In the upcoming national elections, there could be some political instability and slowing of investments. Economically, GDP growth has been strong but the liquidity crisis may continue. Socially, technology is changing customer needs and expectations. Technological advancements require continued investment in new technologies. Environmentally, there is increased focus on sustainable finance and reporting. The banking industry also faces a highly regulated legal environment.
Cover Story Base Metal Outlook (CY 2014)
Corporate Credit-Buyer’s Credit
Business Trivia -Bombay Stock Exchange
Visual Facts-Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
The document discusses India's rising non-performing assets (NPAs) in the banking sector. It notes that NPAs have ballooned to over $180 billion, equal to 11.17 lakh crores rupees, primarily driven by rising corporate debt. A small number of large companies account for the majority of stressed assets. The rising NPAs pose significant risks to banks and require large capital infusions to meet regulatory requirements. In the short-term, resolution of NPAs will be challenging but consumption growth and economic reforms could help reduce debt issues in the medium to long-term.
The Economic Survey of India 2008-2009 makes several predictions and assessments:
1) It predicts GDP growth of 7.75% if the global economy improves, or 6.25% if the global recession persists.
2) It claims high savings and investment, rural growth, and resilient services exports have protected India's economy despite global conditions.
3) It argues the worst effects may be over and recent measures could facilitate a quick "U-shaped recovery", subject to some factors outside India's control.
The document discusses the monetary and fiscal policies of India. It defines monetary policy as actions by the Reserve Bank of India to influence money supply, interest rates, and credit availability to achieve objectives like price stability and economic growth. It outlines the instruments of monetary policy like bank rate, cash reserve ratio, and open market operations. Fiscal policy relates to government spending and taxation and uses instruments like public expenditure, taxation, public debt, and deficit financing to promote growth, employment and welfare. The document provides details on these policies and their objectives, instruments, implementation and limitations.
Current trends in banking sector (2015) EditionIsha Desai
The document discusses current trends in the Indian banking sector. It outlines that banks play an important role in capital formation by mobilizing savings and channeling them into productive investment. It then discusses trends in key sectors such as industry, small businesses, agriculture, e-commerce, and foreign exchange. Recent union budgets have increased caps on foreign investment and recapitalized public sector banks. The Reserve Bank of India helps implement monetary policy and focus development in different sectors. Overall, the banking sector is growing and adapting to increasing technology and customer needs.
This document provides a 13,716 word analysis of the strategies of Canada's "Big Five" banks - RBC, BNS, TD, BMO, and CIBC. It begins with a literature review on industry analysis, strategy analysis frameworks, and various strategic perspectives. The methodology section outlines a 3-step approach: 1) industry analysis using Porter's Five Forces, 2) individual bank strategy analyses, and 3) strategic evaluations. The results section finds that while the banks have comparable domestic strategies, their international strategies differ significantly. It also determines that the banks formulate and implement stable, long-term strategies. The conclusion is that the banks increasingly differentiate themselves, particularly regarding international growth strategies.
This document provides an overview of the Indian mutual fund industry and investment options. It discusses the different types of mutual fund schemes available across equity, debt, hybrid, and other categories. It also provides summaries of various SBI mutual fund schemes, including information on investment objectives, portfolio allocations, and past performance. The document aims to help investors understand the mutual fund landscape and select appropriate funds based on their investment goals and risk tolerance.
This document provides an overview and snapshot of various equity and debt mutual fund schemes offered by SBI Mutual Fund. It includes details such as the fund name, type of scheme, allotment date, fund manager, ideal investment horizon, minimum and additional investment amounts, exit loads, options available, and minimum SIP amounts for 27 equity schemes and 16 debt schemes. Information on the managing director's message, market overview, how to read factsheets, and comparative performance of all schemes is also included.
This document provides an overview of the Pakistani banking sector in 2014. It notes that while macroeconomic conditions improved last year, it was a challenging year for banks. Banks had shifted away from private sector lending after the 2008 financial crisis and instead focused on low-risk government bonds. This led to declining private sector credit and economic growth. However, government bond issuance boosted bank profits in 2014 without real banking activity. The document calls for banks to refocus on commercial and private sector lending in 2015, such as consumer, SME, mortgage, and corporate lending, to maintain profitability as bond issuance declines. It also discusses challenges around improving recovery laws, expanding financial inclusion, and growing the Islamic banking sector.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
The document provides an overview of the Indian banking industry. It discusses key trends such as rising credit growth, increasing assets and money supply, and growing interest income. Technology innovations and policy support are driving factors for future banking sector expansion. However, non-performing assets pose a risk, which regulators are taking steps like debt resolution plans and enhanced KYC checks to mitigate. Overall the market outlook for Indian banks remains positive due to continued economic growth, infrastructure investments, and banks' focus on new technologies.
Finance companies, central bank of nigeria and economic developmentAlexander Decker
This document summarizes an empirical study that examines the relationship between Central Bank of Nigeria (CBN) regulatory activities, finance house activities, and economic development in Nigeria from 1992-2010. It uses gross domestic product (GDP) as a measure of economic development and proxies CBN activities with minimum paid up capital and shareholders fund, and finance house activities with domestic credit and total assets. The study finds that a significant relationship exists between finance house activities and economic development, but that CBN regulatory activities have no significant relationship with finance house operations. It recommends policies to encourage existing finance houses and license new ones to better support Nigeria's overall economy.
The document discusses recent economic and financial news in Sri Lanka. It notes that the Central Bank reduced the Statutory Reserve Requirement by 2 percentage points to 6% to boost lending. It also discusses Moody's changing Sri Lanka's outlook to stable from positive due to concerns over the external payments position and pace of fiscal consolidation. Several other topics covered include a drop in GDP growth, Japan becoming Sri Lanka's largest lender, and a forecast of GDP growth being negatively impacted by fuel price increases.
Banking sector development and economic growth slides for presentation editedComrade Ibrahim Gani
This document summarizes a study on the relationship between banking sector development and economic growth in Nigeria. It finds that while several banking reforms have been implemented, real sector access to financing remains difficult, with high interest rates discouraging bank borrowing. After reviewing theories and prior studies on the finance-growth nexus, the document describes the study's methodology, which uses cointegration and vector error-correction models to analyze annual data from 1970-2010 on GDP, financial indicators like credit to GDP ratios, and other variables. The results show a long-run equilibrium relationship between the variables. In particular, higher credit to the private sector, government expenditure, and interest rate spreads negatively impact GDP, while liquid liabilities and trade openness positively influence
This is a presentation targeted to non-economics major, to understand where does money come from and how to achieve sustainability of bank business. The script is available at http://getthingsright.blogspot.com/2010/05/1-opening-banking-business-is-one-of.html
The document discusses the state of the Indian banking system. It notes that Indian banks have emerged stronger under regulatory oversight. State Bank of India improved its position in international rankings and saw its brand value increase. Nationalized banks accounted for over half of aggregate deposits, while public sector banks held over half of total bank credit. The government infused additional capital into public sector banks and passed banking reforms aimed at expanding their access to capital markets.
The document summarizes economic and financial news from Sri Lanka in March 2010. It reports that Commercial Bank was named Sri Lanka's best bank for the 12th consecutive year. It also summarizes Commercial Bank's financial results, noting maintained profitability in 2009 despite challenging conditions. Additionally, it provides overviews of IMF views on Sri Lanka's economy, the top 10 billionaires in the world according to Forbes, and an analysis of Sri Lanka's fiscal performance and 2010 budget outlook.
Indian Banking entering the new era of Basil III and Financial InclusionAnmol Narang
The document discusses non-performing assets (NPAs) in the Indian banking sector and how upcoming Basel III regulations and financial inclusion efforts will impact the sector. It provides details on how NPAs are classified and calculated. Global NPA levels are compared, showing they are not solely correlated with GDP and are influenced more by economic conditions and policies. Factors influencing Indian NPAs are analyzed, such as GDP growth, exchange rate fluctuations, and stock market performance.
The document provides an overview of domestic and global macroeconomic news and performance of key indices for the week of September 21-25, 2015. It notes that the US Fed reiterated the possibility of a rate hike in the next 3-6 months and that the RBI is expected to cut rates by 25 basis points at its upcoming policy review. Key sectors like auto, private banks, IT and FMCG are viewed positively from a 2-3 year perspective. The indices data indicates declines across most sectors for the week while commodities like crude saw prices fall and the rupee depreciated against the USD but appreciated against other currencies.
This document analyzes the performance and competitive position of state-owned commercial banks in Bangladesh from 2009-2012. It finds that while these banks have achieved stable growth in deposits, loans, and branches, they have struggled to improve key financial metrics like net profit, returns, and reducing non-performing loans. Trend analysis found positive growth in some areas but negative trends or low correlation for other financial indicators. The study aims to evaluate these banks' performance, conduct competitive analysis, and provide recommendations for improvement. Secondary data is used from annual reports and other sources to analyze metrics and compare the four largest state-owned commercial banks in Bangladesh.
pestel Analysis of Banking Sector in bangladesh Arich hasan
The document analyzes the PESTEL factors affecting the banking sector in Bangladesh. It discusses the political, economic, social, technological, environmental, and legal factors. In the upcoming national elections, there could be some political instability and slowing of investments. Economically, GDP growth has been strong but the liquidity crisis may continue. Socially, technology is changing customer needs and expectations. Technological advancements require continued investment in new technologies. Environmentally, there is increased focus on sustainable finance and reporting. The banking industry also faces a highly regulated legal environment.
Cover Story Base Metal Outlook (CY 2014)
Corporate Credit-Buyer’s Credit
Business Trivia -Bombay Stock Exchange
Visual Facts-Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
This document summarizes news and analysis from the December 2011 issue of Investeurs Chronicles. It discusses the fall of India's microfinance industry from grace as Vikram Akula stepped down as chairman of SKS Microfinance. It notes that while Akula helped establish microfinance in India, his profit-driven model has been criticized for prioritizing profits over helping the poor. The industry grew rapidly from 2005-2010 but high interest rates of 30-50% drew controversy. The summary provides an overview of developments in the microfinance industry and perspectives on Akula's role and legacy.
1) The article discusses how the state of Bihar in India has undergone a transformation from being known for corruption and crime to becoming one of the most efficiently run states with high economic growth.
2) Key sectors driving Bihar's growth include construction, communication, and trade/hotels/restaurants. Infrastructure development like roads and internet access have also increased dramatically.
3) Per capita income and tourism in Bihar have risen significantly in recent years, showing improved living standards, though agriculture still needs more development. Overall Bihar has seen sustained high growth replacing past volatility.
Cloud computing offers many benefits like on-demand access to computing resources and pay-per-use billing. However, there are also security risks and concerns about losing control over sensitive data. While cloud services provide location-independent resources, enterprises worry about relying on providers to safeguard valuable data. Additional challenges include ensuring manageability of cloud infrastructure and platforms as they currently lack robust management capabilities. Overall, cloud computing presents opportunities but also risks that must be addressed for organizations to fully embrace the technology.
Magnify.net: How To Remove Videos Uploaded by AnonymousVernessa Taylor
Walk-through with screenshots of Magnify.net shows how to remove videos uploaded by "anonymous" from your Magnify.net Video Hosting account. View video slides on CoachNotes Blog at http://bit.ly/deHIOG . Thanks for viewing.
The document discusses India's fiscal deficit target for the upcoming year and whether it is sensible, audacious, or foolhardy. It analyzes the government's claims about meeting past deficit targets and expenditures exceeding budgets. It argues the deficit target will be difficult to achieve due to risks of higher oil prices and food subsidies. Meeting the target would require strong revenue generation and expenditure control, which the government has not consistently demonstrated in the past.
George Eastman, a high school dropout, brought photography and images to our daily lives. He left behind a legacy that probably he thought would endure for generations.
However, buffeted by foreign competition, then blindsided by a digital revolution, photography icon Eastman Kodak Co. is now fighting for survival after a quarter-century of failed efforts to find its focus.
What went wrong with Eastman Kodak is a question that crossed my mind. Here I am presenting what I gathered and understood by flipping through pages of 131 year old company.
The document summarizes recent private equity investments in microfinance institutions in India. It notes that private equity funds have invested $230 million in MFIs over the past two years and that investment is expected to continue growing. It provides examples of recent private equity deals made with Indian MFIs totaling $84 million. While microfinance aims to serve the underprivileged, some argue that large private equity investments could turn MFIs solely focused on profits at the expense of their social mission. However, others view private equity and MFI partnerships as mutually beneficial, with investors earning high returns from MFIs' interest rates and repayment rates while providing capital to expand financial services.
Cover Story Narayana Murthy’s Second Innings
Outlook US Dollar
Stats Major Global Currencies Recent Movement
Emerging Country South Africa
In Focus Target Gold, Again
This document provides instructions on how to add and manage hypertext links (HTML links) on a WordPress website. It explains how to create links to internal pages, insert links to images and other media files, edit existing links, and remove links. The key steps covered are selecting text and clicking the link button to add a link, choosing internal pages from a list, uploading and linking to files, and clicking linked text and the unlink button to remove a link.
The document discusses several economic news items from emerging markets:
- Russia's central bank held interest rates steady and signaled a slightly more dovish tone going forward as a new central bank head is nominated.
- Indonesia's state-owned coal miner is seeking to acquire stakes in other coal mining sites to expand its operations.
- The Philippines reported that its consolidated public sector deficit reached $27.5 billion in the third quarter of 2012.
- South Africa reported a 3.9% year-over-year increase in manufacturing production for January 2013.
- Brazil's main oil producing states are reviewing their budgets and preparing for potential revenue cuts after Congress overturned a presidential veto related to oil royalty redistribution.
Cover Story Is the irony of raising FDI limit
Outlook Coal
Stats Restructuring profile of PSU Banks
Emerging Country Hungary
In Focus E-Commerce Industry in India
The appreciation of the Indian rupee is driven by strong foreign institutional investment inflows into the Indian stock market. However, the rupee's rally is dependent on continued global risk appetite and liquidity. Rising global risk aversion due to the European debt crisis has recently caused some foreign funds to pull out of Indian shares. Additionally, surging crude oil prices pose a threat by widening India's current account deficit. The sustainability of the rupee's gains depends on maintaining foreign capital inflows to fund the deficit.
This document outlines a presentation on public narrative and strategy for building teams and fixing problems. It discusses the components of an effective public narrative, including telling the story of self, the story of us, and the story of now. It provides examples of these components, including one speaker's story of how she got involved in improving healthcare access. The document also covers key aspects of developing strategy, such as identifying the problem, key stakeholders, the desired solution or change, and who has the power to enact that change. It gives examples applying this framework to the Montgomery bus boycott and another speaker's efforts to create an interprofessional student-run free clinic.
Deloitte Report "Global Powers of Retail 2014"Oliver Grave
This document provides an overview and analysis of the global economic outlook and its implications for retailers. It discusses economic growth forecasts and challenges facing major economies like China, the United States, and Europe. For China, it notes a slowing economy and issues like debt from shadow banking that could impact sustained growth. The US is expected to see better growth in 2014 than 2013, assuming the Federal Reserve's tapering of monetary policy proceeds smoothly. Political uncertainties pose risks to predictions.
pl_najwieksze_sieci_handlowe_Global_Powers_of_ _Retailing_2014Blossom Out
This document provides an overview and analysis of the global economic outlook and its implications for retailers. It discusses near-term growth prospects for major economies like China, the United States, and Europe. For China, growth around 7-8% is expected but debt issues pose risks. The US is strengthening but Federal Reserve policy normalization presents uncertainty. Political decisions could significantly impact forecasts. Retailers face both opportunities and challenges depending on how individual countries and regions perform.
A research article that touches upon the everlasting issue of rising Non-Performing Assets ( Stressed Assets) in the Indian Banking Industry.
It explores macro economic concepts coupled with evolving legal regulations that may have just given passage to a lucrative debt market in India.
Growing NPAs and Future of Banking in India by vinay shahane vinay shahane
A healthy banking system is essential for any economy striving to achieve growth and remain stable in competitive global business environment. Multiple macroeconomic, demographic, and technological developments make the Indian banking sector one of the most attractive opportunities globally. Challenges like high stressed asset levels and fragmented ndustry structure are dragging down performance and threatening future growth. The best indicator for the health of the banking industry in a country is its level of Non-performing assets (NPAs).Urgent attention is required to ensure that the sector can continue to be a key driver of Indian economy.
- Monetary financing or "helicopter money" involves central banks directly increasing money supply by crediting funds to government or individual accounts, bypassing traditional monetary policy tools. It is seen as a potential next step for central banks struggling with low growth and inflation.
- The document provides a checklist for considering helicopter money, examining factors like economic conditions, central bank credibility and independence, balance sheet constraints, and risks of losing control over inflation.
- While helicopter money could boost nominal growth and inflation, current economic data does not warrant it for major economies. More importantly, the approach risks undermining central bank credibility and ability to manage inflation expectations.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
A STUDY ON PROFITABILITY OF MSME LENDING BUSINESS FOR BANKS IN INDIAJohn1Lorcan
Micro Small and Medium enterprises play a very important role in India economy. MSMEs face several
problems, non-availability of finance is an important challenge for MSMEs in India. Among MSMEs,
micro unit face even more challenges as compared to medium and small enterprises. This research paper
is a study on the profitability of MSME loans given by banks in India. The analyses conclude that the
growth of MSMEs is higher than the growth of GDP and hence MSMEs are driving growth of the country;
MSMEs are paying higher rate of interest and hence banks generate better interest income on these loans;
and the NPAs in MSME accounts are lesser than the NPAs in large accounts. Hence the study concludes
that lending to MSMEs by banks is more remunerative and is also helping the country increase its GDP
growth and employment. Therefore, the banks should provide more loans to MSMEs by simplifying their
processes.
Report on Monetary Policies & its transmission mechanismGopal Kumar
The document is a report on monetary policies and transmission mechanisms in India. It defines monetary policy and its objectives set by the Reserve Bank of India. It describes the various monetary policy instruments used by RBI including open market operations, cash reserve ratio, statutory liquidity ratio, and repo and reverse repo rates. It also outlines the monetary transmission mechanism and key channels such as interest rates, credit, asset prices and exchange rates. It discusses issues that can affect the transmission of monetary policy.
The document discusses the author's acknowledgements and thanks to various people who helped and supported them during their project report preparation. It thanks the project guide for guidance and corrections. It also thanks the institution and faculty members for their support without which the project would not have been possible. The author extends thanks to family, friends, and well-wishers as well. It then provides a preface discussing the importance of practical training in business education to meet global standards. The author expresses that undergoing practical training was a great experience.
July 2014 Edition of BEACON, A Monthly Newsletter by SIMCON.
Inside this issue:
INDUSTRY ANALYSIS :Banking Industry
COMPANY ANALYSIS : ICICI Bank
Concept of the Month
Quiz
Did You Know?
financial market,institution and servicesYogesh Singla
The document discusses recent developments in the Indian money market. It provides background on money markets, how they have grown in India, and their functions. The money market allows banks and financial institutions to meet short-term funding needs. It is regulated by the Reserve Bank of India and plays a key role in monetary policy. Money market rates impact inflation and economic activity. While financial openness has benefits, the money market must also direct credit to social sectors and vulnerable groups. Recent months have seen conflicting forces in the money market and speculation around interest rate trends.
This document discusses 10 major challenges confronting the Reserve Bank of India and opportunities for commercial banks to address some of these challenges. The challenges include propelling domestic growth, controlling persistent inflation, mitigating external sector vulnerabilities, and improving various aspects of the financial system. It outlines how inflation impacts household savings and investment. It also discusses opportunities for banks in sectors like MSME, agriculture, housing, and infrastructure to help boost growth. Banks can play a role in curbing food inflation through financing supply chains and providing short-term credit to vendors. Addressing these challenges will require balancing monetary policy objectives of growth and inflation.
The document provides a summary of the 95th issue of the financialdharma newsletter. It discusses the following key topics:
- The significance of the Urjit Patel Committee report on adopting inflation targeting in India's monetary policy framework.
- Rising income inequality globally and in India based on Gini coefficient measurements.
- Moody's warning about India's ability to absorb rising government debt if economic growth remains low and inflation high.
- Using debt funds to strengthen investment strategies by considering bond duration and interest rate outlook.
The Indian banking sector has grown significantly in the last three decades, expanding its business activities beyond traditional banking. Mobile banking transactions in India are expected to reach $350 billion by 2015. Several government initiatives have been taken to improve banking regulation and increase access to financial services in rural areas. With India's continued economic growth and increasing consumer spending, the banking sector is poised for further expansion to capture the growing demand.
The Indian rupee’s recent roller-coaster ride has impacted virtually every section of society. It has hit the country’s finances, eroded investor confidence, pushed down stock indices, pumped up fuel prices and, in turn, those of essentials.
The rupee’s slide is symptomatic of the concerns about the India story. Months of policy paralysis, political churn and social standoffs have taken their toll. It is in this backdrop that senior journalist Subhomoy Bhattacharjee analyses the prospects of the rupee in the cover story of the August edition of PAR, MSLGROUP India’s public affairs newsletter.
Another senior journalist, Kandula Subramaniam, puts into perspective the power crisis the country is up against and the dilemma state electricity companies are facing.
Additionally, you'll also find an analysis of India's bold food security law as well as an update of important policy announcements and reviews in this issue.
This document discusses financial inclusion in India. It defines financial inclusion as providing access to banking and financial services to all people in a fair and affordable manner. The document notes that India has made progress in expanding financial inclusion through initiatives like increasing the number of bank branches and business correspondents, and promoting no-frills bank accounts. However, challenges remain like low literacy and lack of infrastructure in rural areas. The document recommends further strengthening agent banking and leveraging technologies to expand access to financial services across India.
The document provides an overview of developments in the global and Indian economy and financial markets between March 11-15, 2013. It summarizes that Indian equity markets corrected by 1% last week after rising 4% the prior week. It also discusses the unprecedented tax on bank deposits in Cyprus to raise funds for its bailout. In India, inflation numbers rose while industrial output growth increased to 2.4% in January. The RBI was expected to cut interest rates to support growth.
- The Nifty was down 1% last week while SBI reported better than expected quarterly results with increased net interest income and reduced NPAs.
- Tata Steel's results were below expectations due to losses in Europe and higher raw material prices.
- Global markets fell sharply due to concerns over Greece's elections and future in the Eurozone while oil prices cooled somewhat.
The RBI recently cut interest rates by 50 basis points, signaling a change in its tight monetary policy. While lower rates will benefit many sectors, the RBI governor warned against expecting immediate further cuts until inflation decreases significantly. Last week, markets were flat with some volatility, and key company results like HDFC Bank met expectations while RIL profits declined. This week, markets will watch the US Federal Reserve's policy meeting for any signs of further quantitative easing measures. European debt issues also remain a key uncertainty.
The document discusses several financial and economic terms:
1) Systemically important financial institutions are large banks or institutions whose failure could threaten the entire financial system.
2) Leading economic indicators predict future trends, while lagging indicators show past trends. The leading index and GDP are examples.
3) Fixed income obligation to income ratio (FOIR) is a debt-to-income ratio used by banks to determine loan eligibility based on monthly payments.
Cover Story Indian Entrepreneurs Are More Measured Than The Chinese
Corporate Credit Bank Guarantee
Business Trivia Vadilal- A Oldest brand of India
Visual Facts Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
Cover Story Outlook Of Non- Ferrous Metal
Corporate Credit FCNR(B) Loans
Business Trivia First self-made female millionaire
Visual Facts Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
Cover Story What Flipkart can learn from TCS
Corporate Credit Forfaiting
Business Trivia Bharatiya Reserve Bank Note Mudran Private Limited
Visual Facts Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
Cover Story Why corporate houses keen to set up universities
Corporate Credit Packing Credit in Foreign Currency
Business Trivia BRICS- Mini IMF
Visual Facts Sensex, Gold, Crude, Dollar, MCX Metal & MCX Agri
The Tata group withdrew its application for a banking license in India, deciding that its current financial services model better supports its domestic and overseas strategy. This leaves 25 other applicants, including companies from the Aditya Birla, Bajaj, and Reliance groups, still in the running for new private banking licenses that the Reserve Bank of India is expected to issue. Some analysts believe the high capital requirements and regulations around priority sector lending deterred some large corporate groups from applying for a banking license.
Cover Story King of the pack-Indigo Airlines
Outlook Japanese Yen
Stats Insignificant growth in World Trade
Emerging Country Ukraine
In Focus Blackberry’s Knight: V Prem Watsa
Cover Story End to QE: Not a great idea for Asia?
Outlook Chinese Yuan
Stats India Gloom on GDP, Fiscal Deficit and Mining and Manufacturing output
Emerging Country Nigeria
In Focus Facts on Food Security Bill
Raghuram Rajan has been appointed as the next Governor of the Reserve Bank of India (RBI), replacing Duvuri Subbarao whose term ends in September 2013. Rajan faces several challenges in his new role, including improving RBI's relationship with the finance ministry, strengthening the rupee, replenishing foreign exchange reserves, keeping inflation in check, and overseeing the licensing of new banks in India during a period of economic uncertainty. As RBI Governor, Rajan will have to balance various economic goals and guide monetary policy prudently through the difficult economic conditions.
Cover Story China Running out of Breath
Outlook Crude Oil
Stats India Trade Deficit FY-2014
Emerging Country Russia
In Focus Land Acquisition Bill- A Snapshot
Cover Story Is India's food security bill the magic pill?
Outlook Euro
Stats Currency Composition of Foreign Exchange Reserve
Emerging Country Philippines
In Focus US Becoming a Surveillance State. Right or Wrong?
- Ranbaxy Laboratories Ltd, an Indian generic drug maker, pleaded guilty to felony charges related to drug safety and agreed to pay $500 million in fines to the US Department of Justice. This is the largest settlement ever with a generic drug maker over drug safety issues.
- The settlement is due to drugs manufactured at two Indian plants not meeting safety standards and false statements being made. The civil settlement is for $350 million for false claims submitted to US healthcare programs from 2003-2010.
- The case raises questions about quality standards of drugs manufactured in India and could damage the reputation of the Indian pharmaceutical industry. It may make it more difficult for Indian drug companies to secure contracts in the US market.
Back in Limelight-“Saradha chit fund scam brings in focus deficiencies in Financial sector”
Steel Outlook
Moonsoon trend in India
Emerging Country-Turkey
Should India issue Sovergin Bonds
The document discusses the bailout deal reached for Cyprus to avoid exiting the eurozone. Key points:
- Cyprus agreed to restructure its second largest bank, Laiki, dissolving it and transferring guaranteed deposits to the largest bank, Bank of Cyprus, which also faces major restructuring.
- Large depositors in both banks face significant losses of up to 40% of their money. The banking sector will shrink greatly and thousands of jobs will be lost.
- Capital controls will be imposed temporarily on bank withdrawals and cash movements.
- However, Cyprus' debt levels remain very high and its economy will shrink drastically, so it may require further bailouts.
- The deal sets a precedent that worries
The document discusses the Union Budget of India for 2013-2014 that was presented by the Finance Minister P. Chidambaram. Some key points:
- The budget aimed to narrow the fiscal deficit to 4.8% of GDP while raising spending through higher revenues. However, the 2014 shortfall target of 5% may be optimistic.
- Investors were disappointed by the higher-than-expected net borrowing target of Rs. 17,000 crore as it hit market sentiment and the rupee.
- The three month forecast for the USD/INR exchange rate is 55, with risks of further depreciation beyond 55 in the near term. Longer term, the rate is expected to reach
The document discusses India's proposed National Food Security Bill. It aims to provide subsidized food grains to 75% of rural and 50% of urban populations, including priority households below the poverty line. However, the article notes that past attempts at ensuring food security through centralized control and subsidies have failed and driven up prices instead of reducing hunger. It questions if this new bill will actually reduce malnutrition and hunger given the large costs involved and challenges of effective implementation and targeting of benefits.
South Dakota State University degree offer diploma Transcriptynfqplhm
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In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
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A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
5 Tips for Creating Standard Financial ReportsEasyReports
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Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
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OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
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Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
2. Cover
Story
The NachiketMor committee report does not address the issues that militate against financial inclusion
The NachiketMor committee report has recommended a new banking structure in India. This, however, will not necessarily be one that will serve the aim of
inclusion best.
The committee must be applauded for meeting the deadline given with such a comprehensive report that is liberally sprinkled with suggestions for avoiding
micro-management. For example, the distance between bank branch and the banking correspondent should be set by the bank according to its own
operational convenience and not by rules set by the Reserve Bank of India (RBI).
Yet the inherent contradictions in the existing system remain. To give one example, the report shows the discord in the flow of priority sector credit:
agricultural credit is bunched up in March to meet the targets set by RBI, but the rush does not match the needs of the farmer. Hence, the report recommends
tracking the outstanding amounts on a daily basis rather than at the end of the fiscal.
Just this single point underscores the fact that micro-management by well-intentioned policymakers can often clash with actual objectives. Yet, even as the
report tries to address such contradictions, when it comes to the crux, not only do the fundamentals remain the same, i.e., the emphasis on bank-led model for
financial inclusion, the existing liberalized space of prepaid payment instruments (PPIs) has been replaced by payment banks. In other words, it is clear that
inclusion will remain the preserve of banks.
Given the lacklustre performance of banks globally in reaching out to the excluded, unless the core issues plaguing the bank model at the last mile are
addressed, will creating another set of banks really help in achieving the goal of inclusion? Yes, by piggybacking on the Aadhaar roll out, everyone will get a
bank account, but what happens after that is the key to real inclusion.
Interestingly, the report does highlight the need to capitalize on the strengths of non-banks when it comes to payments for inclusion. However, after setting
out risks in the existing PPIs, the report flips the argument over and asks non-banks to become small specialized banks instead.
At first reading, this looks like a good idea, bringing in existing PPIs and other non-banks, and at the same time mitigating risks that are the bugbear of RBI. So
where is the problem? The issue is that by not separating payments and deposits, the recommendations have, in all probability, tangled the business case for
payments even more than it currently is. There is a reason why the European Union’s payment systems directive, 2007, and the recent Brazilian regulations
created separate payments institutions, clarifying that any money kept with an entity for the sole purpose of payments is not to be treated as a deposit. Such
institutions do not accept deposits and do not give credit.
A shaky vision for Financial Inclusion
3. Cover
Story
In India, rather than making such a clear distinction, the recommendations force non-banks to become banks instead. The tangling of the business case comes
through in the report itself, with the recommendation that at least one deposit product provided through payment access points should give a positive real rate
of return over the Consumer Price Index. As the report shows at the moment no bank provides such a product. Putting such a restriction on any non-bank that
wants to enter the payments business is to saddle the business case with even more problems than those that exist currently. Then, there is the other stinger
that says that all guidelines for scheduled commercial banks will be applicable to payments banks, creating more confusion for anyone who wants to enter the
payments business.
While existing small PPIs have been forced into examining their very existence now, big telcom firms and India Post seem the obvious contenders for the new
payment banks licences. This model can get India Post a bank licence that it wants, but will telcos find a business model with deposits commercially viable?
Globally, non-banks are playing a greater role in the payments space because their core competence of wide network, revenue model and other features match
the needs of the poor and the unbanked, i.e., low value, high volume transactions. A 2011 Bank for International Settlements (BIS) working paper by Peter
Dittus and Michael Klein dissects the banking business into four parts: exchange of different forms of money for one another; storage of money for safe-keeping;
transfer of money from one owner to another and investment of money.
This shows the first three requirements are the most basic needs of the unbanked and can be met without involving the fourth, which is the core banking
business. This principle of separating payments from intermediation has been accepted and carried forward by international standard setting bodies—the
Financial Action Task Force, the Global Partnership for Financial Inclusion (the platform of the Group of Twenty countries for financial inclusion) and the BIS’
committee on payment and settlement systems. The PPI model in India was in line with these principles. Unfortunately, by binding payments with deposits, the
payment banks idea fails to meet the grade now.
4. The fundamentals took a significant turn in the US Dollar’s favor at the end of 2014 when the Federal Open Market Committee (FOMC) announced the long-awaited Taper.
There are a number of important implications to this change in monetary policy. First, if the central bank is comfortable enough to ease its unprecedented support program, it
suggests that officials are confident about the outlook for the economy, employment and other critical metrics for the United States. Another important implication of the Fed’s
decision to moderate its stimulus program is the subsequent yield impact. A direct aim of the open-ended stimulus program was to lower longer-term lending rates which would
encourage economic expansion.
The USD may also benefit should the market begin to question the Fed’s message that there is likely to be a substantial gap between the end of QE3 and the start of a rate hike
cycle. Surveys suggest that market expectations of this gap currently stand at 10 months. It may narrow. The UK provides a useful parallel where the market has questioned
central bank forward guidance, and bought the currency as a result. A similar process in the US is likely to drive the USD stronger.
Hence, we see the USD rally continuing and expanding in scope in 2014. The pace of tapering and the ability of the Fed to reassure the market that rate hikes need not swiftly
follow the end of tapering will be central to the USD’s fortunes. On both measures, we expect the currency to thrive.
Forecast for US$-major currency pair for 2014 is:
Currency Pair Level
USD JPY 109
USD CHF 1.00
EUR USD 1.25
GBP USD 1.59
Stats
Outlook-US Dollar
Gloss
Organic Growth
The growth rate that a company can
achieve by increasing output and
enhancing sales. This excludes any profits
or growth acquired from takeovers,
acquisitions or mergers.
5. Emerging Country- Peru
Peru, officially the Republic of Peru, is a country in western South America. It is bordered in the north by Ecuador
and Colombia, in the east by Brazil, in the southeast by Bolivia, in the south by Chile, and in the west by the Pacific
Ocean.
The economy expanded 4.9 percent in the first 10 months of 2013. In Peru, growth forecasts have been revised
upwards. GDP is expected to grow by 6.3% in 2014. Peru’s economy is heavily dependent on mining. The nation is
the world’s third-largest producer of copper and silver and the sixth-largest producer of gold. Services account for
53% of Peruvian gross domestic product, followed by manufacturing (22.3%), extractive industries (15%), and taxes
(9.7%).
Peru's current account deficit for the year is seen at 4.4 percent of GDP. Fiscal surplus for the year is expected to be
0.7 percent of GDP in 2013. In November 2013, the trade balance registered a deficit of USD 170 million, which
contrasted the USD 219 million surplus observed in the same month of the previous year.
Peru attracted a record high investment of $12.2 billion in 2013, representing a $4 billion increase from the amount
reported the previous year. Peru became the fifth highest recipient in Latin America of FDI flows with revenues
worth $2.2 billion, equivalent to 5.9 percent of its GDP.
Trade between India and Peru during the first 10 months of calendar year 2013 (January-October) was US $ 1.049
billion - exports from India to Peru were US $ 573.07 million and imports by Peru from India were US $ 476.42
million. The trade increased by 18% as compared to the same period of 2012 when it was US $ 883.13 million.
India’s main exports to Peru are motorcycles and three-wheelers, iron and steel products, polyester and cotton
yarns, pharmaceuticals, pipes, etc. Main Indian imports from Peru are copper minerals, gold, phosphates of calcium,
zinc and lead minerals, fish flour, synthetic cables, fresh grapes etc.
Vital Economic Statistics of Peru
Economy
Particulars Details
GDP (nominal) $220.564 billion
(2014)
GDP growth
rate
4.90% (2013)
Currency Nuevo sol (PEN)
Credit Rating BBB+ - S&P & Fitch
Fiscal Surplus 2.1% of GDP (2013
estimated)
Current
account deficit
4.4% of GDP (2013
estimated)
6. In FocusForex
USA is second to China in monetary stimulus
The latest data released by China on 15th January show that the country's rapid growth in
money supply has continued. The money supply is still charging well ahead of inflation-
adjusted economic growth, which has been about 7.6 per cent. Growth in M2 almost reached
30 per cent at the end of 2009, when China was using monetary policy to offset the effects of
the global financial crisis. China has reduced the pace of money supply growth since then, but
kept it well above the pace of economic growth throughout, which means it has done little to
sop up the extra cash issued during the crisis.The broad measure of money supply, known as
M2, grew 13.6 per cent last year, barely less than its increase of 13.8 per cent a year earlier.
China's tidal wave of money has driven asset prices through the roof. Housing prices have
soared. The rapidly expanding money supply has also reflected into a flood of loans from the
banking system and the so-called shadow banking system that have kept afloat many
inefficient state-owned enterprises and bankrolled the construction of huge overcapacity in
the manufacturing sector.The question now is whether the central bank can slow the growth
of credit and the money supply without causing a slump in housing prices or a sharp
slowdown in the credit-dependent corporate sector. Even the very modest slowdown in
money supply growth so far has already contributed to two sharp but short-lived increases in
interbank interest rates in June and December, which roiled markets in China and around the
world.
Corporate lending rates are already approaching 10 per cent a year, the highest in any of the
world's largest economies. M2 has grown so fast in China not just because the central bank
has been issuing a lot of renminbi but also because the state-owned banking system has lent
and relent those renminbi with encouragement from the government, creating a multiplier
effect.
M2 encompasses money in circulation, checking accounts, savings accounts and certificates of
deposit. It is the main money supply indicator watched by the People's Bank of China in
trying to balance the need for economic growth with the dangers of inflation. Purchase
programme has ended. In other words, the era of cheap money isn’t going to be over soon.
However, India is better prepared to face the aftereffects this time.
Data from 5th
January 2014 to 17th
January 2014
Sensex Nifty
20,787
.30
21,063
.62 6191.4
5 6261.6
5
Gold (10 gm) Silver (1 Kg)
29097 29256
45555
45150
Crude Oil ($/barrel) Dollar/INR
106.73 106.48
62.33
61.35
7. About Investeurs Consulting Private Limited
For a good business, finance is as crucial as vision, management and
product. Intuitively then Business Finance plays a vital role in the business
prosperity. We, at Investeurs Consulting Pvt. Ltd understand and
appreciate the vitality of this discipline and the responsibility that comes
with it.
As Business Finance Consultants we realize that finance is an enabler that
contributes significantly towards realizing your business goals. We bring to
the table 18 years of vast and vivid exposure to different businesses, a
profound understanding of business and financial dynamics and excellent
relationship with banks/ financial institutions.
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Finance:
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Inland Letter of
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Finance:
Buyers’ Credit and
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Investment:
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and Term Loan
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Factoring Private Equity
Rating Assistance
Team Chronicle
Akanksha Srivastava akanksha@investeurs.com
Nidhi Gogia nidhi@investeurs.com
Harpreet Kaur harpreet@investeurs.com
Disclaimer: Investeurs Chronicles is prepared by Research & Analysis Team of Investeurs Consulting Private Limited to provide the recipient with relevant information pertaining to the world economy. The
information contained in the document is based on the releases made by various newspaper & publications; hence, we are not responsible for any inaccuracies in the information provided.
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