How to tackle Contemporary Global Challenges: 1.Poverty due lack Jobs, Agricultural/Farming Income for minimum livelihood. 2. Corruption and Black Money due to a few amassing and hoarding wealth that widen gap between Rich and the Poor. 3. Heavy burden of Duties and Taxes on Common People. 4. Proliferation of Terrorism of sorts across the World. 5. Degradation of Cyber Security and Privacy, with an amazingly simple Technology Solution. Universally Governments Operate Money As Commodity. #UGOMAC
Contemporary Global Challenges and Technology Solutions.Abraham Paul
(1) The document discusses contemporary global challenges like poverty, corruption, taxation, terrorism, and cybersecurity issues.
(2) It proposes the concept of "Government Operate Money as Commodity" (GOMAC) where the government would create and manage both physical and virtual money through a national server.
(3) By levying a small transaction charge (0-2%) on all money transfers using this system, the government could generate substantial annual revenue estimated between Rs. 250-400 trillion without additional taxes. This would far exceed current budgets and help address key challenges.
Balanced scorecard implementation- Beyond Demonitisation n GST programme!bs srikanth
A guide to determine and link various objectives/ initiatives to make India a modern nation where there is opportunity for all and Governance delivers for all!
This document provides an overview of digital economy and e-commerce in Indonesia. It discusses how Indonesia has the highest rate of e-commerce use globally with 90% of internet users purchasing products online. However, the average spending per online shopper is relatively low at $89 USD. It also summarizes Indonesia's position as the largest internet economy in Southeast Asia valued at $40 billion growing at 49% CAGR. The document outlines some of the key regulations around e-commerce taxation in Indonesia and proposes changes through an omnibus law to tax foreign digital companies without a physical presence. It also advertises the tax diagnostic review services of KIB Consulting and the opening of their new branch office in North Jakarta.
Newsletter - World Trade Center Bangalore - October, 2015Ratul Bhattacharya
This newsletter discusses India's growing participation in global value chains and the Digital India initiative. It notes that 2015 has seen progress under Prime Minister Modi's vision, including the Digital India campaign which aims to provide government services digitally. This digital revolution will help transform India's socio-economic dynamics by improving infrastructure, education, and establishing a foundation for sustainable development and economic progress. The newsletter also briefly summarizes the proposed Goods and Services Tax and its potential benefits for India's economy and businesses.
The document discusses several key points regarding taxation in Indonesia:
1. The government plans to increase the VAT rate from 10% to 12% and impose a minimum 1% tax on companies that suffer losses based on gross income.
2. The largest trade bloc RCEP that Indonesia joined could enable more exports to China by lowering tariffs and trade barriers between the two countries.
3. Promoting Indonesian products in China poses challenges but opportunities exist in partnering with local businesses, integrating with Chinese e-commerce platforms, and product placements in popular media. However, political tensions could impact trade.
4. A draft law amendment would eliminate criminal penalties for tax evasion and prioritize administrative fines instead.
National Real Estate Development Council (NAREDCO) speech building a New Ind...Manoj Benjamin
1) India faces a massive housing shortage of 80 million units, with infrastructure in need of modernization to support its growing population.
2) China has attracted over $350 billion in foreign direct investment since 1980 by prioritizing infrastructure development, pouring $761 billion into over 1500 projects.
3) For India to attract greater foreign investment, it must accelerate reforms like deregulation, privatization, and an improved regulatory system to attract the hundreds of billions needed to fund infrastructure and close the housing gap.
Indonesia's economy is entering a recession due to negative quarterly growth predictions between -1.7% to -0.6% in Q3 2020. State revenue from January to August declined 13.1% from the same period in 2019. Entering a recession will impact unemployment and purchasing power. COVID-19 cases continue rising. Jakarta will tighten social restrictions for two weeks from September 14, limiting transportation, gatherings, dine-in restaurants, and office/school capacity to 50%. The new e-Faktur 3.0 will replace the outdated version on October 1, providing prepopulated import, tax return, and stamp code data to help businesses fill out tax forms.
Contemporary Global Challenges and Technology Solutions.Abraham Paul
(1) The document discusses contemporary global challenges like poverty, corruption, taxation, terrorism, and cybersecurity issues.
(2) It proposes the concept of "Government Operate Money as Commodity" (GOMAC) where the government would create and manage both physical and virtual money through a national server.
(3) By levying a small transaction charge (0-2%) on all money transfers using this system, the government could generate substantial annual revenue estimated between Rs. 250-400 trillion without additional taxes. This would far exceed current budgets and help address key challenges.
Balanced scorecard implementation- Beyond Demonitisation n GST programme!bs srikanth
A guide to determine and link various objectives/ initiatives to make India a modern nation where there is opportunity for all and Governance delivers for all!
This document provides an overview of digital economy and e-commerce in Indonesia. It discusses how Indonesia has the highest rate of e-commerce use globally with 90% of internet users purchasing products online. However, the average spending per online shopper is relatively low at $89 USD. It also summarizes Indonesia's position as the largest internet economy in Southeast Asia valued at $40 billion growing at 49% CAGR. The document outlines some of the key regulations around e-commerce taxation in Indonesia and proposes changes through an omnibus law to tax foreign digital companies without a physical presence. It also advertises the tax diagnostic review services of KIB Consulting and the opening of their new branch office in North Jakarta.
Newsletter - World Trade Center Bangalore - October, 2015Ratul Bhattacharya
This newsletter discusses India's growing participation in global value chains and the Digital India initiative. It notes that 2015 has seen progress under Prime Minister Modi's vision, including the Digital India campaign which aims to provide government services digitally. This digital revolution will help transform India's socio-economic dynamics by improving infrastructure, education, and establishing a foundation for sustainable development and economic progress. The newsletter also briefly summarizes the proposed Goods and Services Tax and its potential benefits for India's economy and businesses.
The document discusses several key points regarding taxation in Indonesia:
1. The government plans to increase the VAT rate from 10% to 12% and impose a minimum 1% tax on companies that suffer losses based on gross income.
2. The largest trade bloc RCEP that Indonesia joined could enable more exports to China by lowering tariffs and trade barriers between the two countries.
3. Promoting Indonesian products in China poses challenges but opportunities exist in partnering with local businesses, integrating with Chinese e-commerce platforms, and product placements in popular media. However, political tensions could impact trade.
4. A draft law amendment would eliminate criminal penalties for tax evasion and prioritize administrative fines instead.
National Real Estate Development Council (NAREDCO) speech building a New Ind...Manoj Benjamin
1) India faces a massive housing shortage of 80 million units, with infrastructure in need of modernization to support its growing population.
2) China has attracted over $350 billion in foreign direct investment since 1980 by prioritizing infrastructure development, pouring $761 billion into over 1500 projects.
3) For India to attract greater foreign investment, it must accelerate reforms like deregulation, privatization, and an improved regulatory system to attract the hundreds of billions needed to fund infrastructure and close the housing gap.
Indonesia's economy is entering a recession due to negative quarterly growth predictions between -1.7% to -0.6% in Q3 2020. State revenue from January to August declined 13.1% from the same period in 2019. Entering a recession will impact unemployment and purchasing power. COVID-19 cases continue rising. Jakarta will tighten social restrictions for two weeks from September 14, limiting transportation, gatherings, dine-in restaurants, and office/school capacity to 50%. The new e-Faktur 3.0 will replace the outdated version on October 1, providing prepopulated import, tax return, and stamp code data to help businesses fill out tax forms.
State-owned mobile operator NetOne expects to pay a dividend to the Zimbabwean government by the end of 2016. This is despite posting a $3 million loss in 2015. The company's acting CEO said ongoing restructuring efforts will improve financial performance going forward. He noted that NetOne has similar network infrastructure to larger competitor Econet but generates much less revenue, indicating room for growth. The CEO said NetOne should capture more market share by better utilizing government customers and expanding its sales and distribution networks.
Insurance penetration in Indonesia is very low at less than 3% of the population due to a lack of understanding and high prices. However, technology presents an opportunity to increase penetration among Indonesia's large, young, and increasingly wealthy population through insurtech platforms that make the purchase and claims process simpler. A survey of over 2,000 Indonesians found that while health and life insurance are most commonly used, many do not understand insurance products or find them too expensive. There is potential for insurtech to develop innovative new products that better meet consumer needs and simplify the purchasing and claims experience.
Taxation for Domestic Resource Mobilization (DRM in KenyaSally A.
Kenya is heavily dependent on donor aid. As a middle income country there is concern of decrease in foreign aid and thus need for Domestic Resource Mobilization (DRM). My target audience are the citizens of Kenya as well policy makers and the donor community.
DRM is a reliable and sustainable source of development finance. Raising more revenue from internal sources helps countries devote needed resources to reduce poverty and hunger, bridge infrastructure gaps and provide public services. DRM fosters the social contract between people and government, facilitates a virtuous cycle of transparency, accountability, efficiency and strengthens democratic engagement and institutions.
Taxation for Domestic Resource Mobilization (DRM) in KenyaSally A.
Kenya is heavily dependent on donor aid. As a middle income country there is concern of decrease in foreign aid and thus need for Domestic Resource Mobilization (DRM). My target audience are the citizens of Kenya as well policy makers and the donor community.
DRM is a reliable and sustainable source of development finance. Raising more revenue from internal sources helps countries devote needed resources to reduce poverty and hunger, bridge infrastructure gaps and provide public services. DRM fosters the social contract between people and government, facilitates a virtuous cycle of transparency, accountability, efficiency and strengthens democratic engagement and institutions.
Digital economy for Somalia how it can help the nationAli Mohammed
Somali Government should take the leadership and courage to recognize and reap in the unexplored benefits of digital economy and ICT so that Somalia can reach new heights as far as development is concerned. Somalia Needs a visionary who has the courage to take the first leap.
This document contains a lecture on public administration given by Dr. Maged Botros on 2/22/2012. It discusses why and how governments should intervene in economic activities to achieve both economic and social objectives. Specifically, it covers how governments can use tools like fiscal policy, regulations, and programs to support businesses in order to influence economic outcomes like growth, employment, and competitiveness. The document also includes 20 questions on these topics related to chapter 1 of the lecture.
This document discusses potential strategies for Indonesia to accelerate economic growth post-pandemic. It suggests focusing on human capital development through improving education, increasing spending on research and development, and supporting small and medium enterprises. Education reform ideas include emulating Finland's approach of fostering creativity over rote learning. R&D spending in Indonesia is currently low at 0.22% of GDP and needs to increase. SMEs employ most workers but were impacted by the pandemic, so policies like the UK's furlough program could help prevent rising unemployment. Developing local consumption of domestic products would also support SME growth and investment. Mergers between major tech startups Gojek and Grab or Tokopedia are mentioned as possibilities to
The document summarizes initiatives from the Directorate General of Taxation and the Directorate General of Customs and Excise in Indonesia. It discusses their pledge to integrate data networks and improve services through a 5-year synergy program. It also outlines recent tax reforms and simplifications to tax return processes. These include allowing "nil" returns to not require submission and expanding channels to submit returns. The Directorate General of Customs and Excise is developing a second generation of Bonded Logistics Centers to reduce logistic costs and aims to become a more modern customs agency through ongoing improvements.
There is a tremendous opportunity for #africanstartup entrepreneurs to serve the growing population of African Islamic communities.
#innovation #fintech #islamicfinance #islamicbanking
The Covid-19 pandemic has slowed global and national economic growth in 2020, with Indonesia projected to have economic growth of -0.4% to 1%. The pandemic has caused many changes including people working and learning from home to prevent the spread of the virus. A "new normal" is being implemented where economic activities resume but with added health protocols.
Indonesia's economy contracted significantly in the second quarter of 2020 due to the COVID-19 pandemic. GDP declined 5.32% year-over-year and 4.19% quarter-over-quarter, marking the first contraction since the 1998 Asian financial crisis. This decline was deeper than predicted. One factor was a 5.51% decrease in household consumption, with declines in most consumption categories except housing/home appliances and health/education. The economic downturn has pushed several countries into recession and may continue affecting investment, production, employment and purchasing power. To support economic recovery, the Indonesian government expanded tax incentives and introduced regulations allowing alternative bases for VAT collection from foreign digital companies and farmers.
1. The document discusses the French and Indian banking systems and their relationship. It describes several joint ventures between French bank BNP Paribas and major Indian banks like SBI.
2. BNP Paribas has established subsidiaries and joint ventures in India like BNP Paribas India Solutions, Sundaram BNP Paribas Mutual Fund, and Geojit BNP Paribas Financial Services.
3. These partnerships allow the French and Indian banking industries to expand their global reach and provide their customers with access to international banking services.
Artha kranti presentation-with-descriptionAmit Rai
The document discusses the negative effects of fiscal deficit in India including restricted government spending, uncompetitive local industry, high unemployment, slowed GDP growth, and reduced social spending. It argues that the fiscal deficit leads to internal and external borrowing which increases interest rates, hurts the banking system, and forces the government to sell public assets. This takes control away from the government and negatively impacts weaker sections of society.
The document summarizes key points about Indonesia's Omnibus Law on Job Creation. It was passed by the House of Representatives to simplify regulations and encourage economic growth. The law aims to help Indonesia achieve 6-8% annual growth to create jobs and exit the middle income trap by 2045. It consolidates over 70 laws and over 1000 articles focusing on simplifying business licensing, enhancing investment, employment protections, and empowering small businesses. The law faces some opposition from labor groups but is intended to revive Indonesia's economy amid the pandemic.
The Indian economy today is reckoned among the fastest growing economies in the world. The 12th Five Year Plan of Indian Government has a vision to lift the nation's annual GDP growth to 8% and it also highlights the importance of internet connectivity or digitalisation and skill development of Indian MSMEs to achieve these goals.
One of the key issues highlighted on our end-year KIB Consulting e-news edition is to help our clients in identifying and understanding today’s business landscape and its ongoing risks. The headline was excerpted from the World Economic Forum insight report of Regional Risks for Doing Business 2018.
The document provides an overview and analysis of the Indian economy based on the Economic Survey 2016-17. Some key points:
1. The survey uses "Big Data" for the first time, analyzing goods and people movement across India from GSTN data.
2. Growth rates in 2016-17 are estimated at 7% overall, with agriculture at 4.1%, industry at 5.2%, and services at 8.8%.
3. Major events of the period include demonetization, GST implementation, setting up of the Monetary Policy Committee, and cleaning bank balance sheets of NPAs.
4. Key economic indicators show declining fiscal deficit, narrowing current account deficit, increasing F
This report summarizes the Indonesian fintech industry in 2018. Key points include:
1) Total disclosed fintech investment was $182.3 million, a 3% increase over 2017, with lending startups receiving 57% of funding.
2) Fintech lending has grown significantly, with over 13.8 trillion Rupiah disbursed in loans as of September 2018. 84% of loans were in Java.
3) New regulations from OJK and BI aimed to strengthen consumer protections and ensure security, including rules for e-money, digital banking, and fintech innovation. A new fintech lending association AFPI was also established.
PhiEconomy: towards a purpose-based economy under a human's perspectiveAlejandro Sewrjugin
Latest presentation -as of March 2020- of the Essential Principles for PhiEconomy New Theory of Value Global Framework. Explains how we can build an inclusive & sustainable Global Economy in order to achieve United Nations Sustainable Development Goals -SDGs-
1. Zimbabwe was once a breadbasket exporting agricultural commodities but its economy has declined since 2000 due to lack of development assistance and low economic activity.
2. Domestic resource mobilization is now key for economic growth but faces challenges including low savings, capital flight, a large informal sector, and poor tax administration.
3. Improving domestic resource mobilization in Zimbabwe will require expanding the tax base through technologies like mobile money, rationalizing tax incentives, and improving tax collection and savings in the informal sector.
State-owned mobile operator NetOne expects to pay a dividend to the Zimbabwean government by the end of 2016. This is despite posting a $3 million loss in 2015. The company's acting CEO said ongoing restructuring efforts will improve financial performance going forward. He noted that NetOne has similar network infrastructure to larger competitor Econet but generates much less revenue, indicating room for growth. The CEO said NetOne should capture more market share by better utilizing government customers and expanding its sales and distribution networks.
Insurance penetration in Indonesia is very low at less than 3% of the population due to a lack of understanding and high prices. However, technology presents an opportunity to increase penetration among Indonesia's large, young, and increasingly wealthy population through insurtech platforms that make the purchase and claims process simpler. A survey of over 2,000 Indonesians found that while health and life insurance are most commonly used, many do not understand insurance products or find them too expensive. There is potential for insurtech to develop innovative new products that better meet consumer needs and simplify the purchasing and claims experience.
Taxation for Domestic Resource Mobilization (DRM in KenyaSally A.
Kenya is heavily dependent on donor aid. As a middle income country there is concern of decrease in foreign aid and thus need for Domestic Resource Mobilization (DRM). My target audience are the citizens of Kenya as well policy makers and the donor community.
DRM is a reliable and sustainable source of development finance. Raising more revenue from internal sources helps countries devote needed resources to reduce poverty and hunger, bridge infrastructure gaps and provide public services. DRM fosters the social contract between people and government, facilitates a virtuous cycle of transparency, accountability, efficiency and strengthens democratic engagement and institutions.
Taxation for Domestic Resource Mobilization (DRM) in KenyaSally A.
Kenya is heavily dependent on donor aid. As a middle income country there is concern of decrease in foreign aid and thus need for Domestic Resource Mobilization (DRM). My target audience are the citizens of Kenya as well policy makers and the donor community.
DRM is a reliable and sustainable source of development finance. Raising more revenue from internal sources helps countries devote needed resources to reduce poverty and hunger, bridge infrastructure gaps and provide public services. DRM fosters the social contract between people and government, facilitates a virtuous cycle of transparency, accountability, efficiency and strengthens democratic engagement and institutions.
Digital economy for Somalia how it can help the nationAli Mohammed
Somali Government should take the leadership and courage to recognize and reap in the unexplored benefits of digital economy and ICT so that Somalia can reach new heights as far as development is concerned. Somalia Needs a visionary who has the courage to take the first leap.
This document contains a lecture on public administration given by Dr. Maged Botros on 2/22/2012. It discusses why and how governments should intervene in economic activities to achieve both economic and social objectives. Specifically, it covers how governments can use tools like fiscal policy, regulations, and programs to support businesses in order to influence economic outcomes like growth, employment, and competitiveness. The document also includes 20 questions on these topics related to chapter 1 of the lecture.
This document discusses potential strategies for Indonesia to accelerate economic growth post-pandemic. It suggests focusing on human capital development through improving education, increasing spending on research and development, and supporting small and medium enterprises. Education reform ideas include emulating Finland's approach of fostering creativity over rote learning. R&D spending in Indonesia is currently low at 0.22% of GDP and needs to increase. SMEs employ most workers but were impacted by the pandemic, so policies like the UK's furlough program could help prevent rising unemployment. Developing local consumption of domestic products would also support SME growth and investment. Mergers between major tech startups Gojek and Grab or Tokopedia are mentioned as possibilities to
The document summarizes initiatives from the Directorate General of Taxation and the Directorate General of Customs and Excise in Indonesia. It discusses their pledge to integrate data networks and improve services through a 5-year synergy program. It also outlines recent tax reforms and simplifications to tax return processes. These include allowing "nil" returns to not require submission and expanding channels to submit returns. The Directorate General of Customs and Excise is developing a second generation of Bonded Logistics Centers to reduce logistic costs and aims to become a more modern customs agency through ongoing improvements.
There is a tremendous opportunity for #africanstartup entrepreneurs to serve the growing population of African Islamic communities.
#innovation #fintech #islamicfinance #islamicbanking
The Covid-19 pandemic has slowed global and national economic growth in 2020, with Indonesia projected to have economic growth of -0.4% to 1%. The pandemic has caused many changes including people working and learning from home to prevent the spread of the virus. A "new normal" is being implemented where economic activities resume but with added health protocols.
Indonesia's economy contracted significantly in the second quarter of 2020 due to the COVID-19 pandemic. GDP declined 5.32% year-over-year and 4.19% quarter-over-quarter, marking the first contraction since the 1998 Asian financial crisis. This decline was deeper than predicted. One factor was a 5.51% decrease in household consumption, with declines in most consumption categories except housing/home appliances and health/education. The economic downturn has pushed several countries into recession and may continue affecting investment, production, employment and purchasing power. To support economic recovery, the Indonesian government expanded tax incentives and introduced regulations allowing alternative bases for VAT collection from foreign digital companies and farmers.
1. The document discusses the French and Indian banking systems and their relationship. It describes several joint ventures between French bank BNP Paribas and major Indian banks like SBI.
2. BNP Paribas has established subsidiaries and joint ventures in India like BNP Paribas India Solutions, Sundaram BNP Paribas Mutual Fund, and Geojit BNP Paribas Financial Services.
3. These partnerships allow the French and Indian banking industries to expand their global reach and provide their customers with access to international banking services.
Artha kranti presentation-with-descriptionAmit Rai
The document discusses the negative effects of fiscal deficit in India including restricted government spending, uncompetitive local industry, high unemployment, slowed GDP growth, and reduced social spending. It argues that the fiscal deficit leads to internal and external borrowing which increases interest rates, hurts the banking system, and forces the government to sell public assets. This takes control away from the government and negatively impacts weaker sections of society.
The document summarizes key points about Indonesia's Omnibus Law on Job Creation. It was passed by the House of Representatives to simplify regulations and encourage economic growth. The law aims to help Indonesia achieve 6-8% annual growth to create jobs and exit the middle income trap by 2045. It consolidates over 70 laws and over 1000 articles focusing on simplifying business licensing, enhancing investment, employment protections, and empowering small businesses. The law faces some opposition from labor groups but is intended to revive Indonesia's economy amid the pandemic.
The Indian economy today is reckoned among the fastest growing economies in the world. The 12th Five Year Plan of Indian Government has a vision to lift the nation's annual GDP growth to 8% and it also highlights the importance of internet connectivity or digitalisation and skill development of Indian MSMEs to achieve these goals.
One of the key issues highlighted on our end-year KIB Consulting e-news edition is to help our clients in identifying and understanding today’s business landscape and its ongoing risks. The headline was excerpted from the World Economic Forum insight report of Regional Risks for Doing Business 2018.
The document provides an overview and analysis of the Indian economy based on the Economic Survey 2016-17. Some key points:
1. The survey uses "Big Data" for the first time, analyzing goods and people movement across India from GSTN data.
2. Growth rates in 2016-17 are estimated at 7% overall, with agriculture at 4.1%, industry at 5.2%, and services at 8.8%.
3. Major events of the period include demonetization, GST implementation, setting up of the Monetary Policy Committee, and cleaning bank balance sheets of NPAs.
4. Key economic indicators show declining fiscal deficit, narrowing current account deficit, increasing F
This report summarizes the Indonesian fintech industry in 2018. Key points include:
1) Total disclosed fintech investment was $182.3 million, a 3% increase over 2017, with lending startups receiving 57% of funding.
2) Fintech lending has grown significantly, with over 13.8 trillion Rupiah disbursed in loans as of September 2018. 84% of loans were in Java.
3) New regulations from OJK and BI aimed to strengthen consumer protections and ensure security, including rules for e-money, digital banking, and fintech innovation. A new fintech lending association AFPI was also established.
PhiEconomy: towards a purpose-based economy under a human's perspectiveAlejandro Sewrjugin
Latest presentation -as of March 2020- of the Essential Principles for PhiEconomy New Theory of Value Global Framework. Explains how we can build an inclusive & sustainable Global Economy in order to achieve United Nations Sustainable Development Goals -SDGs-
1. Zimbabwe was once a breadbasket exporting agricultural commodities but its economy has declined since 2000 due to lack of development assistance and low economic activity.
2. Domestic resource mobilization is now key for economic growth but faces challenges including low savings, capital flight, a large informal sector, and poor tax administration.
3. Improving domestic resource mobilization in Zimbabwe will require expanding the tax base through technologies like mobile money, rationalizing tax incentives, and improving tax collection and savings in the informal sector.
The document provides an overview of the fintech industry in the Philippines in 2020. It notes that the Philippines has a population of over 100 million, with over half owning smartphones. The fintech sector in the Philippines was one of the few bright spots during an economic contraction due to the COVID-19 pandemic, experiencing exponential growth. The report serves as an essential reference on the development of fintech in the Philippines during this landmark period.
The document provides a summary of five panel discussions held across India on the topic of financial inclusion. The panels saw debates on how to make financial inclusion viable in rural areas with large populations lacking access to financial products. Key challenges identified were gaining the trust of rural populations and helping them access financial services. Successful models were seen to be those that made services accessible at affordable costs, such as through optimized use of Banking Correspondents. All stakeholders recognize the potential of serving consumers at the "bottom of the pyramid" but approaches need to focus on contribution-based systems rather than dole-based ones. Technology can also help power financial inclusion by facilitating efficient and secure transactions.
This document discusses financial inclusion in the Middle East and Saudi Arabia. It defines financial inclusion as access to affordable and usable financial services. The importance of financial inclusion is discussed, including its role in job creation, poverty alleviation, and boosting incomes. While financial inclusion can help the poor and small businesses, the literature suggests governments in the Middle East are not doing enough to increase uptake of financial services through education campaigns. The document will examine prevalence of banking, loans, and mobile banking in Saudi Arabia in 2017.
Mauritius faces challenges and opportunities in developing its financial sector. Key points include:
1) Mauritius signed a tax agreement with India that will share taxation on capital gains from 2017-2019 and India offered Rs12.7 billion to help Mauritius grow its financial sector.
2) Mauritius' financial sector currently lacks substance and expertise in profitable activities. A major transformation is needed but will be long and difficult.
3) Two major banks, MCB and SBM, dominate the banking system but are well capitalized. They pose systemic risks to Mauritius' financial system that regulators need to address.
Mobilising domestic resources for sustainable development in cameroon is the ...SHILLIE PETER (DBA Fellow)
Considering that financing development from domestic resources can be more cost effective to a nation, there is urgent need to strengthen and mobilize the domestic resources of the Country. A more guaranteed source of domestic resources for financing development is through taxation.
Mobilising domestic resources for sustainable development in cameroon is the ...SHILLIE PETER (DBA Fellow)
Considering that financing development from domestic resources can be more cost effective to a nation, there is urgent need to strengthen and mobilize the domestic resources of the Country. A more guaranteed source of domestic resources for financing development is through taxation.
Remittances as a Catalyst for Financial Inclusion 19 Apr 2016- FINAL2Juanita Woodward
Juanita Woodward presented on how remittances can act as a catalyst for financial inclusion for migrant workers. She outlines three key opportunities: 1) Linking financial products like savings, credit, and insurance to remittances can increase access to services for migrant workers and their families. 2) Financial literacy training is important so migrant workers understand how to manage money. 3) Microinsurance products are growing and can help migrant workers mitigate financial risks. Remittances present an opportunity to improve financial inclusion if the right products and education are developed with migrant workers and their transnational families in mind.
The Government of India's move to demonetise higher currency notes on 8th November jolted the nation and led to financial crisis, which is yet to be resolved. Fiinovation analysis the impact of demonetisation on social development sector.
The document discusses domestic resource mobilization as a financing solution for sustainable development in Zambia. Zambia faces challenges raising funds for infrastructure projects due to weak tax collection systems. The proposed solution, adding, pooling and enabling, would help Zambia increase financial flows through effective taxation of individuals, businesses, and mining investors. This includes ensuring all pay appropriate taxes and build infrastructure. Creating an enabling environment and policy guidance can strengthen domestic policy and mobilize more resources to support development goals.
Financial inclusion cbt presentation feb 2011subramanian K
The document discusses financial inclusion challenges and opportunities in India, focusing on the role of government, industry, and academia in promoting financial inclusion. It defines financial inclusion and exclusion, outlines reasons for exclusion. It proposes a public-private partnership model utilizing technology to expand access to banking and credit for rural and low-income populations.
The document summarizes a speech given at the Better Than Cash Alliance meeting. It highlights that digital payments can accelerate economic growth, job creation, and poverty alleviation. It congratulates member countries and agencies for their leadership and commitment. Examples from Colombia, Mexico, and Fiji show how digital payments increase efficiency, lower costs, and reduce hardships compared to cash transactions. The speech calls for focusing on meeting client needs through digital savings and insurance products. It advocates for ambitious targets to expand digital payments and access to financial services by 2030 to support development goals.
Management of Financial Institutions - Unit I-converted.pdfSudhaMuralinath
MBA notes on Economic growth, Capital formation - process - saving, mobilizing, investment, Problems of capital formation, Role of financial institutions - mediator, catalyst, promoter, counselor
This study aimed to determine the levels of financial literacy of Small Scale Farmers and to establish
the link with their usage of financial services.
The OECD/INFE financial literacy measurement household telephone survey questionnaire was adapted and
administered to Small Scale Farmers. Financial literacy was measured by adding up scores in financial
knowledge, financial attitude and financial behaviour. Financial service usage was assessed by asking
respondents whether the respondents had used any of the specified services. Pearson’s Chi-square test for
independence was used to test the hypotheses as categorical variables were mostly involved.
Technical Report of ITU Focus Group on Digital Financial Services : Bulk Payments and the DFSs Ecosystem
Written by Bennett Gordon, Carol Coye Benson, Carolina Trivelli, Daniel
Radcliffe, Abi Jagun, Mireya Almazán, Matt Homer, Toru Mino, Charles Niehaus, Satwik Seshasai,
Michael Goldfarb, Michael Faye, Niyi Ajao, and Quang Nguyen
Government-to-person (G2P) and employer-to-person payments of all sorts, often referred to as “bulk
payments”, are seen by many as key enablers for the growth of the digital financial services (DFS)
ecosystem. In this paper, we examine ways in which bulk payments have been made in the past and
look at ways in which this has improved over recent years. We also analyse the remaining challenges
which have stymied bulk payment rollouts in many countries.
Similar to Contemporary Global Challenges and Technology Solutions. (20)
Natural calamities do happen; disasters above certain magnitude are beyond human control. Nevertheless, mutely suffering in the PRESENT repeating the mistakes of the PAST without seeking ways and means to bring in changes for the benefit of FUTURE is meaningless.
How to save legacy telecom business at verge of collapseAbraham Paul
INTERNET is the best thing happened in Communication technology in past few decades. IOT and IOE are the golden catch words that change the whole world. As it appears to millions out there, strangling of Net neutrality will be a horrendous mistake.
Nonetheless, the following facts and concerns call for serious consideration of all stake holders, the Telecom Business groups, Regulators and the Government, lest the World Telecom get disrupted beyond retrieval.
Universally governments operating money as commodity (1)Abraham Paul
Demonetization is Archaic. Governments collecting of TAX on rightfully hard earned Money of ordinary Citizen is Mediaeval.
No one can stop advancement of Technology and the disruptive paths it create. However, there has to be a way to tackle it and half baked solutions like Demonetization are of no help. The way to go is to walk, and walk the full way with disruptive technology converting it an advantage.What hurts Economy most is not Black Money alone but also large portion Money being guzzled up and converted into its virtual form by fast mushrooming e-money businesses creating parallel economy of a black hole of Virtual Money draining Banks hurting liquidity and eventually disrupting Nation’s economy. Forewarned is forearmed.
Net netrality without hurting telcos and usersAbraham Paul
No one can stop advancement of Technology; and then Technology changes too quickly too. However, most Technology advancements disrupt the paths it goes through and grows. Same is truer in Information Communication Technology also. Advancement in ICT brought in convergence of Systems & Networks, mode of connectivity, the end links and User end devices and converged various forms of ICT based transactions that helped to provide Universal mode of Telecommunication that help humanity across the word.
INTERNET is the best thing happened in Communication technology in past few decades. IOT and IOE are the golden catch words that change the whole world. As it appears to millions out there strangling Net neutrality will be a horrendous mistake. Nonetheless, the following facts and concerns call for serious consideration of all stake holders, the Telecom Business groups, Regulators and the Government, lest the World Telecom get disrupted beyond retrieval.
Power of Virtual Money, Problems and need of Regulation.
Governments spend quite a lot of money for Printing Money, its safe keep, distribution, replacements and accounting of it and for preventing Black money and counterfeits. It is only right for Governments use Money as a commodity and levy some sort of charge, call it service charge, maintenance charge or whatever, on its use. Money being dynamic and never remain static at one point, money goes on rolling continuously non-stop, making its revenue earning potential for the Government, larger and larger. The revenue collected thus by Governments would be enormous and much more than what is being collected in various forms of taxes now and will suffice to cover entire Government expenditure comfortably and much more for development needs without burdening people with any form of taxation. Please see my blog http://wp.me/p1ZsI2-M6
- The document proposes a universal "Money Through Mobile" (mTm) system to enable digital money management and financial transactions through phones across India, including rural areas.
- The mTm system would function as a "virtual bank" to handle low-value accounts and provide financial inclusion without major human intervention. It could utilize technologies like satellite links and set-top boxes to reach remote areas lacking connectivity.
- With Aadhaar identification, the mTm system could enable direct benefit transfers of government payments and subsidies to citizens without middlemen. This has potential to generate employment and infuse liquidity into the economy.
A fruitarian diet helped lower the author's blood sugar and blood pressure levels considerably within 10 days, allowing them to stop medications for diabetes and high blood pressure that they had been taking for over 15 years. The fruitarian diet consisted primarily of raw fruits, vegetables, leaves, and some raw pulses. After 40 days on this diet, the author now eats a normal non-fatty low starch meal once per day along with the fruitarian diet twice per day.
The bitter pills for india reprieve rev4Abraham Paul
1. Democracy in India is struggling as political parties prioritize their own interests over the needs of the people. Elected representatives ignore the public and spread misinformation to gain power. Constant changes in government also prevent long-term planning.
2. The opposition fails to constructively engage and instead aims only to obstruct governance. Electoral practices do not ensure knowledgeable or experienced leaders. Politicians have also reversed the process where bureaucrats should lead governance.
3. India's diverse population and vote banks divided along religious and socioeconomic lines are easily exploited by politicians for political gain, further weakening democracy. Reform is needed for stable, responsible, and continuous governance.
Sex, Society and State. At the outset, I would like to inform the readers that the issues involved in this are very subjective and complex and have different perceptions in different societies across different places and as such the observations and opinions contained may not be universally agreeable to all. What prompted me to write this is the on going debate about legalizing Hetero sexual and Homosexual behavior by law.
Attitudes on matters pertaining to sex are changing in this part of the world also. Therefore, I want to make it clear that I do not disagree to anyone who chooses to disagree to my view points. I can only state that, I wrote this in the context of the culture and the communal life as experienced by me in this country.
The current discussion about indiscreetly legitimizing homo sexual behavior is an entirely different issue that has nothing to do with legitimizing the activities and life styles of born transvestites, transgender, transsexuals, intersex, and those adopt homosexual behavior out of biological compulsion and hence call for great deal of discretion. This is going on for ages and no one consider it illegal and punishable under Section 377. What is criminal is homosexual activity between any one that tantamount to definition of rape and attracts section 377.
The crux of the matter is whether legally allowing sexual relation between homosexuals in LGBT, as their birth right, and therefore legal, how can then heterosexuals indulging in homosexual activity can be treated illegal according to Section 377 of the constitution, which in the face of it is not only discriminatory but also difficult to implement? Also about how an heterosexual individual indulging in sexual activity with a homosexual individual to be treated? Again how to discriminate who is homosexual and who is not? Insisting to obtain certificate of sexuality is an unworkable proposition.
The right choice is to allow every one who has attained legal age to have sexual relations according to their choice and to retain Section 377 of the constitution to provide safeguard against homosexual activity by anyone involving rape and not consensual sexual activities including that of LGBT communities.
The paper is available in the link: http://wp.me/p1ZsI2-2d
Money through mobile (m tm) for inclusive finance 191013Abraham Paul
The document proposes a system called "Money Through Mobile" or "mTm" which would allow users to conduct financial transactions directly through their mobile phones. It suggests mTm as a solution for increasing financial inclusion in India. The key points are:
1) mTm would allow users to receive, store, send and transfer money using just their mobile phone without needing a bank account or internet connection.
2) It could help the government implement programs like direct benefit transfers more effectively and reduce leakage.
3) For mTm to be successful, it would need universal reach across all mobile networks and service providers nationwide as well as offer universal products and services.
Universal un banked money management by phone 250313Abraham Paul
1. Money through Mobile (MTM) proposes a universal money management system using phones to enable all types of day-to-day money transactions directly through mobile phones. This would promote financial inclusion and support microfinance needs across the country.
2. MTM would use USSD technology, working through mobile networks without needing internet. It would allow users to store and transfer money, pay bills, and receive welfare payments directly into their MTM accounts. Money can also be deposited and withdrawn at MTM kiosks and franchises.
3. Linking MTM accounts to Aadhaar IDs could enable secure personalized transactions and help implement financial inclusion by making microfinance services available to all, especially the poor
It was wrong to sell wireless spectrum (1)Abraham Paul
The document discusses issues with auctioning wireless spectrum licenses in India. It argues that auctioning spectrum long-term is unworkable given the fast pace of technology changes. Spectrum should be allocated on a short-term "right to use" basis and adjusted as needed. The growth of telecom services should be prioritized over business interests. De-linking spectrum from licenses and potential foreign ownership of spectrum also raise security and operational concerns. The future may see a reduced need for spectrum with convergence of technologies. The document advocates for continued allocation of spectrum to operators on a fixed cost basis tied to licenses.
Impact of transition from voice to data and multi media business in telecomAbraham Paul
1. The transition from voice to data services will negatively impact telecom providers as data services move revenue from telecom networks to external digital service providers.
2. Telecom equipment vendors will also be negatively affected as network operators reduce investments and cannot venture into the diverse application business.
3. Payment gateways and broker systems are needed to apportion revenue between stakeholders to address this issue and ensure network operators receive adequate returns on investments in new technologies.
Segregtion of telecom network operation and service provisionAbraham Paul
The document proposes a universal numbering plan to allow for multi-media telecom services. The plan separates service provision from network operation by basing call routing on the service provider identity rather than the destination code or network. This would allow customers to choose any network operator while retaining their service provider number. The proposed plan includes a format for 15-digit international numbers that encodes country code, service provider ID, service type, and subscriber number. This would provide service for 1000 providers and accommodate voice, fax, data, video and other media types.
Convergence of Wired and Wireless networks.
From the technology and business perspective, the differentiation between Mobile Networks and Fixed phone network is slowly diminishing. Voice, Mobile Data / Internet characteristics in Mobile systems are similar to these in Fixed Networks. Differences are the access type, bandwidth limitations and device characteristics. Therefore, it is necessary to focus on the convergence of Fixed and Mobile networking so to provide Universal mode of Telecommunication for all.
1. Limitations of current Mobile Telecom system. In a detail analysis, it can be seen that with higher data rates, the differentiations of Fixed Network and Mobile Network narrow down to ‘the type of end link’ and the ‘terminal device’. This is because, networking of enormously large number of small coverage’ area cell sites that are required for High Data rate Service delivery with Wireless connectivity becomes impractical. In practice, the topology of the high data service mobile network becomes same as that of fixed network made up of Optical Cable back bone and WiFi / WiMax based wireless end link. Higher Mobility of the Mobile terminal also have impact on the data rates that can be realized without compromising quality of service.
2. Product utility in Mobile situation: Higher data rates of 2 Mbps and above, is required only for quick down loading of high volume contents such as a lengthy digital movie etc. The utility of such services will be rare in a mobile situation and therefore, cannot become a major revenue earning product. Such high volume data files can be easily carried in plug and play storage devices.
It can be seen that an assured data rate of 384 to 512 Kbps, is more than adequate for good quality user intensive 'real time' video plus voice products such as, TV news, digital movie display, Multi-media transactions over internet etc. With 384 to 512 Kbps data rate, the data service can be delivered to the mobile device in a vehicle moving at its normal speed without compromising quality of service.
3. The business viability of high data service: Higher data rates of 2Mbps and above inMobile network any time, anywhere is near to impractical in terms of business viability. It could be realized only in limited hot spots and the Mobile device in more or less stationery situation identical to Wired phone.
4. Limitation in current Wired Line devices. Though very high data rate products could be made available in a fixed network system, the fixed network provides only limited mobility within a short coverage area. High data rate need of the user can be realized if the user can plug in his device to a fixed network socket or get serviced through a PON connectivity as the end link at the premises.
Please see link http://wp.me/p1ZsI2-26
Exclusive govt. owned GSM system for administration and crisis managementAbraham Paul
Quick communication is vital during crises but normal networks get overloaded. The document proposes exclusive government-owned wireless networks for emergency services. These networks would allow fail-proof communication between key points and integrate different city networks. The networks could also generate revenue through value-added services to offset costs. Central administration and infrastructure like trained personnel and equipment are needed along with the networks for effective crisis management.
Innovative system for autonomous charging of Road toll and parking fee.Abraham Paul
This document proposes an innovative system for uniformly charging road tolls and parking fees using wireless technology and GPS networks. The system would replace physical toll booths and parking tickets. A tamper-proof device in each vehicle would use GPS to track location and charge usage-based fees. Fees could vary by location, time of day, and vehicle type. The system aims to streamline fee collection while preventing non-compliance through continuous monitoring. It could generate substantial revenue from road/parking fees as well as value-added services.
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.
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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Unlock Your Potential with NCVT MIS.pptxcosmo-soil
The NCVT MIS Certificate, issued by the National Council for Vocational Training (NCVT), is a crucial credential for skill development in India. Recognized nationwide, it verifies vocational training across diverse trades, enhancing employment prospects, standardizing training quality, and promoting self-employment. This certification is integral to India's growing labor force, fostering skill development and economic growth.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
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Discover essential details about Thailand's recent visa policy changes, tailored for tourists and students. Amit Kakkar Easy Visa provides a comprehensive overview of new requirements, application processes, and tips to ensure a smooth transition for all travelers.
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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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5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
3. CONTEMPORARY GLOBAL CHALLENGES.
1. POVERTY.
Due to acute shortage of JOBs, Lack of Agricultural and other Farm
Income or Alternate Resources for Minimum Livelihood.
2. CORRUPTION / BLACK MONEY.
Amassing wealth by corrupt means by few, and hoarding it as Black
Money, widen Economic Gap Between Rich and Poor.
3. HEAVY DUTIES AND TAXATIONS.
Adds Financial burden on the Common People as what Governments
give by one hand, take back by other.
4. PROLIFERATION OF TERRORISM.
One of main causes for gross unrest in Humanity in many parts of the
world.
5. Disruption of CYBER SECURITY and PRIVACY.
Cyber Security is Vital in everything Digital and also tackling the other
Global Challenges. Disruption of Cyber Security impacts PRIVACY.4/3/2019
4. WHAT IS ‘UNIVERSAL BASIC INCOME.’
Universal Basic Income (UBI) is a model for providing all Citizens of
a Country or other Geographic area with a given Sum of Money,
regardless of their Income, Resources or Employment status.
The purpose of the UBI is to prevent or reduce Poverty and increase
equality among citizens especially where not enough Jobs for needy.
This is a form a Basic Income mainly to alleviate Poverty, also called
Citizen's Income (CI), Citizen's Basic Income (CBI) (in the United
Kingdom), Basic Income Guarantee (BIG) (in the United States and
Canada)
Minimum Income Guarantee (MIG) (now being proposed in India)
is a periodic cash payment delivered to all on an individual basis
without means, task or work for livelihood.
4/3/2019 4
7. Global Challenge (1) POVERTY
Object.
Eradication of POVERTY, caused by acute shortage of JOBs.
Creation of enough Jobs for all have limitations & will take time.
Need more focus on Income from Agriculture & Other Sources.
Till enough Jobs and Alternate Resources of Livelihood can be
made available;
Provision of a Minimum Income Guarantee (MIG) in Lieu of it
by the STATE; Is considered a pragmatic alternative;
In order to Alleviate Acute Poverty among People in Lower
Economic Strata.
7
POVERTY.
8. Proposal to Alleviate Poverty, in Nutshell:
• Quickly Develop, Implement and Deploy an Efficient and Fail
proof System that will Autonomously Collect all information
necessary to identify the Beneficiaries. Aadhar + e-Wallet
• Generate enough Funds using an advance Technology Solution;
Government Operate Money as Commodity. #UGOMAC.
• And hand it out as ‘Minimum Income Guarantee’ MIG,
a scaled down version of the concept of ‘UNIVERSAL BASIC
INCOME’ UBI
• In Lieu of; until JOBSs, Income from Agriculture, Farming &
Other means of Livelihood, continue to remain, Scarce.
• Autonomously Paid Monthly into the Bank Accounts by Direct
Benefit Transfer Method (DBT)
• To its Beneficiaries in the Population that include those in
‘Below Poverty Line’ #BPL ‘Above Poverty Line’ #APL. 8
POVERTY.
9. How bring in Creation and Implementation of a Meaningful
'Minimum Income Guarantee' #MIG suitable for India.
Minimum Income Guarantee shall become meaningful only if it
is Substantial for the Subsistence of its intended Beneficiaries.
MIG shall Cover all ‘ELIGIBLE ONES’ in the lower Economic Strata
in the Country’s Populations as its real Beneficiaries;
that include those in current Below Poverty Line #BPL and part
of those also in ‘Above Poverty Line’ #APL.
Implementation of MIG in due course shall enable replacement
of MGNREGA, Scrapping the problem prone 'Public Distribution
System' PDS, and withdrawal of most Freebies, Loan Wavers,
Economic status based Reservations.
And use the above Funds for Monetary support for MIG Scheme.
A MEANINGFULL MINIMUM INCOME GUARANTEE FOR INDIA.
9
10.
11. 4/3/2019 11
The Number of such Eligible ones are assumed to be about
40% of India’s Population that include all those currently
‘Below Poverty Line’ #BPL and those eligible in ‘Above Poverty
Line’ #APL, that works out to be about 50 Crore people as its
Beneficiaries.
A Meaningful Minimum Income Guarantee as mentioned
above is expected to be giving out Cash Payment of say,
hypothetically, Rs.100 per Day for everyone identified as
Eligible for it by Direct Transfer Method, on a Monthly Basis.
This will need an estimated Monetary Resource of about
Rs.18 L Cr, Annually. Huge amount of Money, it is!!
Almost near to India's last Year Budget Expenditure Outlay.
MINIMUM INCOME GUARANTEE – A HYPOTHETICAL PROPOSITION
13. 4/3/2019 13
Rs.100 /day and 40% Population taken here are
hypothetical figures for explanatory purpose; that
can vary according to the needs, from time to time.
It would be about Rs.30 Trillion, if it is considered that
‘Minimum Income Guarantee’ to be extended for the
eligible ones in the remaining 27% in the 67% of
population covered in the Food Security Bill.
That sort of Monitory Resources can’t be created by
enhancing Duties & TAX that are already a burden on
the Common People, is the other Global Challenge.
MINIMUM INCOME GUARANTEE – A HYPOTHETICAL PROPOSITION (2)
14. 4/3/2019 14
Finding enough Financial Resource, is the Critical issue.
May be a portion of it can be managed with the savings
from Scrapping or Replacing existing welfare Services
MGNREGA, PDS & FSB, Many Loan Wavers and Freebies.
How to find the Monitory Resources by Government for
the remaining Fund required for implementation of a
meaningful ‘Minimum Income Guarantee Scheme’
Without burdening People with TAX and Duties;
Using an Advanced but Simple Technology Solution,
a first of its kind, is the main Theme of this discussion.
MINIMUM INCOME GUARANTEE – A HYPOTHETICAL PROPOSITION (3)
15. POWER AND PERILS OF MONEY GOING VIRTUAL
Few years back I made a presentation here in IEI TVM about the
POWER AND PERILS OF MONEY GOING VIRTUAL.
Advancement of Technology cannot be stopped.
Money going Virtual is Disruptive as most advancements
in Technology disrupt the path it grows through.
Therefore, Converting the Disruptive potential as
Advantage, is the way to go.
In this case by ‘Universally Government Operate Money
as Commodity’. #UGOMAC
15
16. 4/3/2019
GOVERNMENT OPERATE MONEY AS COMMODITY.
An idea first of its kind.
IN EMERGING WORLD DATA IS USED AS COMMODITY.
RBI CREATE MONEY IN PHYSICAL FORM
RBI CREATE MONEY ALSO IN VIRTUAL FORM
i.e. MONEY AS DATA
GOVERNMENT OPERATE MONEY AS COMMODITY. #GOMAC
UNIVERSALLY GOVERNMENT OPERATE MONEY AS COMMODITY. #UGOMAC.
D C
PM
VM
MADVM =
Examples: Postal / Revenue Stamps, Stamp Papers, FinTech Recharges, BITCOIN
17. 4/3/2019 17
GOVERNMENT OPERATE MONEY AS COMMODITY. (2)
UNIVERSALLY GOVERNMENT OPERATE MONEY AS COMMODITY. #UGOMAC
RBI CREATE MONEY IN VIRTUAL FORM i.e. MONEY AS DATA (MAD)
RBI CREATE e-WALLETS THAT CAN BE FILLED WITH MAD and APLICATIONS FOR
PHYSICAL MONEY & MAD in E-WALLETS in every Point of Sales / Point of Service
(POS) that can INTERACT, INTERWORK AND INTERCHANGE, MONEY IN ITS
DIFFERENT FORMS.
PM MAD
RBI
SERVER
PM
e-WALLETS
e-WALLETS
POS
e-WALLETS
e-WALLETS
20. 20
VIRTUAL
MONEY BANKS, PAYMENT BANKS,
PO BANKING NETWORK
MFCs, ORGANISATIONS,
CO-OPERATIVE BANKS
VENDORS, SHOPS
SERVICE PROVIDERS
PRIVATE FinTech
COMPANIES WORKING
ON PREPAID MODE
VIRTUAL MONEY
MANAGEMENT
PHYSICAL MONEY
MANAGEMENT
CREATES &
MANAGE
VIRTUAL &
PHYSICAL
MONEY
RBI
VIRTUAL
MONEY
CONCEPT OF GOVERNMENT OPERATE MONEY AS COMMODITY .
USERS,
CUSTOMERS
PHYSICAL
MONEY
NATIONAL
CHARGING GATEWAY
STATISTICS
R
E
V
E
N
U
E
21. 4/3/2019 21
GOVERNMENTS OPERATE MONEY AS COMMODITY. (3)
Large Number of Transactions of Small, Big and Huge amounts
of Money in HARD CASH happen, Direct and through Banks, in
Various Instruments, Money Exchange Agencies etc. in the
Country and by way of inbound and outbound remittances by
NRIs and Businesses, in other Countries, FDI etc.
Also Money Transfer between every Employer and
Employees, Business to Business, Business to Customers,
Government Spending, Institutions, Organisations and
Contractors Banks to Banks etc. etc.
Add to above, the Budgetary Provision and Expenditure
Outlay of Central, States and Big Corporates, Business
houses etc., and see amount of Money involved!!
22. 4/3/2019 22
GOVERNMENTS OPERATE MONEY AS COMMODITY. (4)
Further, Money flow into the Country due to Inflow and
Outflow in Exports and Imports of Goods and Services.
Huge amount Money Transactions also happen using
Credit Cards, Net Banking etc., in Electronic medium
both offline and also in Real Time Basis.
Much more Money Transactions happen in Real Estates,
Land & Buildings, Equities, Shares and Mutual Funds,
Gold & Diamonds, EMI Payments, In-between
Organizations, Numerous NGOs, Religious Institutions
and Political Funding; Some accounted and most
unaccounted.
23. 4/3/2019 23
As of now, there are no Consolidated Accounting or Statistics
about the Amount of Money being transacted in all possible ways
of Transactions put together on a Monthly or Yearly basis.
May be because, most of it are Un-accounted and many of it may
not be visible in Public Domain.
In spite of Government is in great hurry to move over to
everything into Digital mode, most part of Money Transactions
continue to happen with Physical Currency or its Instruments,
mode, hence the quantum of Money involved not measurable yet.
Money is Dynamic and continue to change hands more so, in its
Virtual form.
GOVERNMENT OPERATE MONEY AS COMMODITY. (5)
Therefore, Money Transactions using Mobile Phones is
one Area, that can be taken for a Case Study; as under.
26. 4/3/2019 26
India has over a Billion Mobile Phones and growing. Most Mobile
Phones now have Virtual Money handling facility.
Initially USERS pay REAL MONEY for recharging of their Virtual
account where it is written this Money as Data in their System that
get Modified and get Deducted in Lieu of Payments as Service
Charges and other Usage Charges.
Meanwhile, the REAL MONEY collected from the USERS go into the
Pockets of Telecom Service Providers.
Which is fine, for the Service Providers get their payment in
advance without botherations of Billings and Collections and also
convenient for USERS.
GOVERNMENT OPERATE MONEY AS COMMODITY. (6)
The Story of Money in Mobile Phones.
27. 4/3/2019 27
The same Process is used for Various forms of Money Transactions
using Phones and many other Mobile or Stationary Devices.
Looking closely it can be seen that, the Money being collected on
Pre-paid basis from the USERS by the Fast mushrooming FinTech
Companies, Various Payment Banks etc., for various digital
Transactions also go into their DEEP POCKETS.
And what goes out of them are only Virtual Money of sorts of their
own Creation; that have no Legal Status,
Creating Black holes of Virtual Money everywhere badly disrupting
Banking Industry as well Country’s Economy. wp.me/p1ZsI2-Ku
GOVERNMENT OPERATE MONEY AS COMMODITY. (6)
Transactions of Money through Mobile Phones.
28. 4/3/2019 28
With an average Money Transaction of Rs.10,000 per
Month per Phone, the amount of Money Transacted in
Virtual form using Mobile Phones works out to about
Rs.10 L Cr (Rs.10 Tn)/Month.
Money is dynamic and do not remain stationary, more so
in its Virtual form.
Assuming that Virtual Money Transactions and
Re-transactions happen on an average of 10 times a
month, it will be Rs.100 L Cr per month that amounts to
Rs.1200 L Cr (Rs.1200 Trillion), Annual.
This is taking the Transactions through Mobile Phones only.
GOVERNMENT OPERATE MONEY AS COMMODITY. (7)
Transactions of Money through Mobile Phones.
32. 4/3/2019 32
GOVERNMENT OPERATE MONEY AS COMMODITY.
An idea first of its kind.
UNIVERSALLY GOVERNMENT OPERATE MONEY AS COMMODITY. #UGOMAC
IN EMERGING WORLD DATA IS USED AS COMMODITY.
RBI Create MONEY IN VIRTUAL FORM (MONEY AS DATA (MAD)
With Application that can make PHYSICAL & VIRTUAL MONEY, INTERWORK.
CAPITALISATION OF ECONOMY WITH MONEY AS DATA.
PHYSICAL MONEY & VIRTUAL MONEY
MAD
D C
PM MAD
RBI
PMe-WALLETS
BANKS
MAD
34. Assuming that Transactions amounting Rs.1200 Trillion
happen using Phones and levying a small percentage on
the amount transacted,
Hypothetically, Say just 2%, Government can fetch a
Revenue of Rs.24 L Cr (Rs.24 Trillion) Annually.
This is more than India’s Current Annual Budget
expenditure outlay of Rs.20 L Cr. (Rs.20 Trillion.)
(Note: Rs.20 L Cr. divided by Population of the Country, works
out to only about Rs.40 per person per day, which is less
than current rate of #BPLindex. What sort of development the
Country can achieve with it, is anybody’s guess?) 34
Proposal of how Revenue can be Generated.
35. 4/3/2019 35
BY bringing entire Money Transactions both in its Physical as
well as in Virtual form using these created and released by
Reserve Bank of India, the amount of Money involved will be
around 10 to 20 times, if not more.
By levying a Transaction charge of say, 0 to 2% using the idea of
Government Operate Money as Commodity, the amount of
Revenue Government can Generate will be around Rs.250 Tn to
Rs.400 Tn annually, that too without any other Taxes.
This can be like 10 to 20 times of current Central Budget outlay,
that can take care of the needs of Central as well as State
Governments and more if Budgets of all Business Groups added.
Including the cost of implementation of a Meaningful Minimum
Guaranteed Income of Rs.100/day for 67% Population currently
covered under Food Security.
Proposal of Revenue Generation from all Sources.
36. 4/3/2019 36
BY bringing entire Money Transactions both in its Physical as
well as in Virtual form using these created and released by
Reserve Bank of India, the amount of Money involved will be
around 10 to 20 times, if not more.
By levying a Transaction charge of say, 0 to 2% using the idea of
Government Operate Money as Commodity, the amount of
Revenue Government can Generate will be around Rs.250 Tn to
Rs.400 Tn annually, that too without any other Taxes.
This can be like 10 to 20 times of current Central Budget outlay,
that can take care of the needs of Central as well as State
Governments and more if Budgets of all Business Groups added.
Including the cost of implementation of a Meaningful Minimum
Guaranteed Income of Rs.100/day for 67% Population currently
covered under Food Security.
Proposal of Revenue Generation from all Sources.
38. 4/3/2019 38
NATIONAL
CHARGING GATEWAY
USERS, CUSTOMERS
PRIVATE FinTech
COMPANIES WORKING
ON PREPAID MODE
STATISTICS
VIRTUAL MONEY
MANAGEMENT
PHYSICAL NONEY
MANAGEMENT
VIRTUAL
MONEY
PHYSICAL
MONEY
CREATES &
MANAGE
VIRTUAL &
PHYSICAL
MONEY.
REVENUE
RBI
How Government Operate Money as Commodity to Generate Revenue
e-WALLETS
e-WALLETS
e-WALLETS
BANKS, PAYMENT BANKS
PO BANKING NETWORK
e-WALLETS
MFCs, ORGANISATIONS,
CO-OPERATIVE BANKS
VENDORS, SHOPS
SERVICE PROVIDERS
e-WALLETS
39. 4/3/2019 39
HOW TO GO ABOUT THE PROPOSAL.
1. Get the SERVER and the Connectivity as shown in the figure in place.
2. Get Applications needed for the functionalities in the SERVER.
3. Get Applications needed in various POIs where Money Transactions happen.
4. RBI to start creating Money in Virtual Form and the e-Wallets and test it out.
5. Make dry run of the SERVER and the Application with hypothetical
parameters to checkout the functionalities.
6. Run the System in BETA mode with dummy parameters & check whether the
Objects achievable.
7. Release VIRTUAL MONEY (MAD) Created by RBI to Capitalize National Banks
& PAYMENT BANKs and ensure it got distributed to every POS.
8. Ban all forms of Virtual Money and e-Wallets created and used by all Private
FinTech Cos as illegal.
9. Implement a full fledged system & its operation officially on a Cut off Date.
40. RETENTION OF UNIVERSAL NATURE OF MONEY TRASACTIONS.
Government Systems and Networks by itself will not be able to
handle 24/7 Operations of such an humongous nature.
RBI’S responsibility is therefore, limited, basically more in the
Creation of MONEY IN VIRTUAL FORM, then the e-Wallets.
Then Capitalisation of Banks with the MONEY in VIRTUAL FORM
handling it the same way how Real Currency is managed.
The Private FinTech Companies handling current e-Money
businesses will continue the same way as it is, till the Central
Server and Network are ready for dry run.
Subsequently all FinTec and all others shall procure e-Wallets
from RBI and start using Money in Virtual form (MAD) created by
RBI for its operations.
HOW TO GO ABOUT WITH MY PROPOSAL. 2
41. 4/3/2019 41
Once implemented and stabilized, the entire system and
its functions according the defined object of collecting
Revenue can go on Autonomously 24/7 round the clock.
As the programs and applications are parameter driven,
changes of various function like Rate and Mode of levy
to be charge be done on various sorts of Money
Transactions both Physical and Virtual can done by few
Computer clicks in the Server.
The system do not interfere with actual Money
transactions as it is done independently at the POS
including collection of the Levy as transaction charges
done on real time basis.
The Proposed System can function Autonomously.
42. 4/3/2019 42
Once implemented and stabilized, the entire system and its
functions according the defined object of collecting Revenue can
go on Autonomously 24/7 round the clock.
The Proposed System can function Autonomously. (2)
Along with it, GST and other Central & State CESS are discontinued.
As enough Revenue is visible, other Direct and Indirect Taxes can be
withdrawn, in Phases.
During the dry run, only mock charging done to asses the amount
of revenue that can be accrued, and to apply corrective measures.
As the programs and applications are parameter driven, changes
of various function like Rate and Mode of levy to be charge be
done on various sorts of Money Transactions both Physical and
Virtual can be done by few Computer clicks in the Server.
When ready, new system takes over, start charging the all sorts
Money Transaction levy in every POS.
43. 4/3/2019 43
VIRTUAL
MONEY
NATIONAL
CHARGING GATEWAY
BANKS, PAYMENT BANKS,
PO BANKING NETWORK
MFCs, ORGANISATIONS,
CO-OPERATIVE BANKS
VENDORS, SHOPS
SERVICE PROVIDERS
PRIVATE FinTech
COMPANIES WORKING
ON PREPAID MODE
STATISTICS
VIRTUAL MONEY
MANAGEMENT
PHYSICAL MONEY
MANAGEMENT
CREATES &
MANAGE
VIRTUAL &
PHYSICAL
MONEY
R
E
V
E
N
U
E
RBI
VIRTUAL
MONEY
NATIONAL CHARGING SYSTEM - SCHEMATIC
USERS
CUSTOMERS
PHYSICAL
MONEY
44. Object: Corruption/Black Money.
Few Rich in this Country amass huge wealth with Corrupt practices
and hoard much of it as Black Money.
This is one of the reasons of widening the Economic Gap between
Rich and Poor; hence a Global Challenge.
Another reason for this is involvement of huge un-accounted Money
in Politics, one of the main perils hurting the smooth Democratic
process.
4/3/2019 44
It can be seen in the ongoing discussion that Government operate
Money as Commodity can effectively address this challenge;
As the information of every movement of Money in its Physical and
Virtual form will become visible in the proposed Server.
Global Challenges. (2) Corruption/Black Money
45. 4/3/2019 45
Governments need Money for it Budgetary Expenses.
Main Resources for this are Duties and Taxes.
A good part of the revenue is spent on subsidies and
giving out as Monetary Benefits.
Heavy Taxes, is like giving with one hand & taking it back by other.
The solution is to make INDIA a TAX FREE Country.
WOW!!But How?
By same process: Government Operate Money as Commodity.
That enables Government to Generate enough and more
Revenue for its needs.
By charging a small percentage on the amount of all Money
being transacted in Real and Virtual in the Country.
Any where, any time, for any purpose in any form: Real or
Virtual.
Global Challenges (3). Heavy Duties and Taxes.
46. 4/3/2019 46
Object: Better Restraint on Proliferation of Terrorism.
By same process:- Government Operate Money as
Commodity.
As entire Statistics of all money transactions being
available in the proposed Central Server; Money flow
into wrong hands for wrong purposes can be
Monitored, Identified in advance and Prevented.
This is perhaps, the one and only sure shot way to
Restrain Proliferation of Terrorism which is one of the
contemporary Global Challenges.
Global Challenges (4)
4. Proliferation of Terrorism.
47. 4/3/2019 47
From the foregoing, it can be seen that the Technology Solutions
for all the above said Global Challenges depends on CYBER SECURITY.
DISTORTION OF CYBER SECURIY IMPACT, SECURITY of Everything Digital.
Future WARS will not be with Guns & Bombs but in CYBER SPACE.
Even War Planes may not fly unless Cyber Security, is SECURE.
Same is true in deployment of every Technology Products and Services in Digital
form over World Wide Web. Absence of Cyber Security can cause Disruption.
INTERNET is the best thing happened in TECHNOLOGY in past few decades.
Nevertheless, as Public and Private Information Communication Networks (ICN)
using INTERNET Protocol getting mixed up in World Wide Web, upkeep of
Cyber Security is becoming a Global Challenge.
Moving over to exclusive INDIACLOUD is the solution to ensure Cyber Security.
Indigenous Development, Manufacturing, Deployment and Managing all those
over Exclusive INDIACLOUD is the Solution to ensure Cyber Security.
Global Challenges (5)
CYBER SECURITY and ‘PRIVACY.’
48. 4/3/2019 48
PRIVACY.
Like the old saying of ‘KINGs’ PRIVACY IS DEAD, LONG LIVE THE PRIVACY
Indiscreet mix up of Information Communication Network (ICN) in
World Wide Web can impact Cyber Security,
Also indiscrete Mix up of Public and Private Digital Dialogue related to
Information Communication Technology (ICT) using INTERNET
Protocol can impact PRIVACY. Flawed Cyber Security impact PRIVACY
Solution is same. Moving over to exclusive INDIACLOUD and CLOUD
Computing is the solution to ensure Cyber Security.
Indigenous Manufacturing, Deployment and Managing the Technology
Products Systems and Networks in Exclusive INDIACLOUDs is the
solution to ensure PRIVACY.
This also help to save Telecom Businesses from collapse, World over.
Global Challenges.
49. PAYMENT BANKS.
PAYMENT BANKS are supposed to work under a Regulatory mechanism
ensuring Money Chains Both in its ‘Real & Virtual’ forms and its Liquidity safe
within the Government approved Banks;
That include the Consortium of Banks formed at the initiative of National
Payment Corporation India (NPCI) under the guidance of Reserve Bank.
Unfortunately, the Government in great hurry to move over to #Digitisation
and use of #e-money everywhere, was virtually (probably unknowingly)
leading the Country’s Economy to disruption;
By not only allowing but also encouraging and brazenly pushing people to do all
sorts of their Money Payments using Debit cards and by Direct payments etc.
In fast mushrooming Private e-money Businesses and Government allowing
many more Payment Banks with no forethought, working on Pre-paid mode,
that collect, hoard and divert Real Money and Creating Black Holes defeating
the primary object in creation of ‘Payment Banks’.
4/3/2019 49
THE MAJOR HURDLES
50. mTm SERVICE PROVIDER SYSTEM
mTm ACCOUNT OF BORROWERS
MFC’S mTm ACCOUNT
Customers mTm A/C
MONEY BORROWERS APPROACH
MICRO FINANCE COMPANIES
MICRO FINANCE COMPANIES
mTm-ATM KIOSKS mTm-END USERS mTm-Franchisees
MICRO FINANCE SUPPORT TO MSMEs
4/3/2019 50
51. 4/3/2019 51
THE MAJOR HURDLES (2)
Nevertheless, the mindset of many People may not be in favor of making all
of their Money Transactions transparent.
But looking closely one can see it is already happening the attitude will
change as the idea becoming clear to the ‘Country loving’ People as they enjoy
benefits like Tax free regime and other features of the system.
The major hurdle perhaps is Political parties are likely to resist
tooth and nail to make their Political Funding transparent and
accountable.
It will need more time and efforts to make the Systems, Networks
and everything needed with it everywhere for the connectivity and seamless
working for collection of signaling information of Money transactions by RBIs
charging Server from the systems where the transaction happen. This need
not be real time information, but received later with the amount of levy to be
accounted for.
The systems, networks and everything related to it shall be fully redundant,
Non- Hack able, and Cyber crime proof lest the whole Money Transaction can
grind to halt.
52. The issues involved are elaborated in my many blogs mentioned
above under various topics. The crux of the issue is that the
whole thing shall be approached in a well-planned manner
phase by phase. Ref. papaulsblog.wordpress.com
4/3/2019 52
Conclusion: The Objects Are Realizable.
Firstly by invoking awareness of Power and Perils of Money
Going Virtual and understanding that, Government acting
pragmatically on it is critical for the successful outcome.
i. Leaving all Money Transactions as it is, meanwhile RBI Creates
‘Virtual Money and it’s e-Wallets, and the Central Server
networked to collect and process information of all electronic
transactions to start with.
53. 4/3/2019 53
iv. Setting up charging arrangements and testing out.
COCLUSION: Continued
ii. Capitalization of Central Banks with e-Money and e-Wallets
banning all other Virtual Money in Circulation.
iii. Setting up software to create and pass on information of
Real time transactions of all types of Real and Virtual
Money, to Central server.
v. Bringing in information and start charging on all Money
transactions as and when needed as e-money and e-wallets are
made available everywhere and software for signaling
information of Real Money Transactions from everywhere.
54. 4/3/2019 54
The Object and Concepts to attain it are important;
Experts aplenty out there to add ‘Nuts and Bolts’ and
many Fathers will arise later to own all these, when done.
Now we are neither here nor there, allowing Nation’s
economy towards its fast-impending disruption. Time is
long past to take decisions as Time and Technology waits
for none.
The hiccups: As it will bring in full transparency of money
dealings of everyone including the Political lot, will the
Governments and the Political Masters game for these, is
the big question?
It can happen if India get a Government with Righteous
MIND and Strong WILL.
Continued:-
55. 4/3/2019 55
THANK YOU
P. Abraham Paul. FIE, FIETE.
Freelance Consultant ICT/ICN.
papaul@hotmail.com
Tweet @pa_paul
Ex: Owner FCOMNET Futuregroups, India & UAE / Vice President Technical Sales, SPCNL
SIEMENS ICN Germany / Director Trg, SC & TS SIEMENS ICN RHQ, Dubai / General
Manager & Senior Member Telecom Business Group, Head of System Implementation,
O&M, SP & QA, BPL Mobile India, / TES (A), DOT India.
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