This is the comprehensive and latest presentation on Indian Corporate Bond market. It starts with basic features, 3 Main pillars of Indian Corp bond market ecosystem & its importance. It then covers Primary Placement, Valuation/MTM as per RBI/FIMMDA norms, Valuation using excel IRR() function with example, Credit rating scales, Market timing & Reporting.
It also covers few topics like ISIN & ends with challenges and Limitation of India corp bond market.
This is the comprehensive and latest presentation on Indian Corporate Bond market. It starts with basic features, 3 Main pillars of Indian Corp bond market ecosystem & its importance. It then covers Primary Placement, Valuation/MTM as per RBI/FIMMDA norms, Valuation using excel IRR() function with example, Credit rating scales, Market timing & Reporting.
It also covers few topics like ISIN & ends with challenges and Limitation of India corp bond market.
NISM STUDY MATERIAL FOR NISM DOCE EXAM. NISM MOCK TEST AT WWW.MODELEXAM.IN. DEPOSITORY OPERATIONS CERTIFICATION EXAMINATION STUDY NOTES.BASED ON LATEST SYLLABUS,EASY TO LEARN,CONCISE,USEFUL TO PASS.NATIONAL INSTITUTE OF SECURITIES MARKETS EXAM IN DEPOSITORY OPERATIONS.NISM,AMFI,NCFM MOCK TEST AT WWW.MODELEXAM.IN
NISM STUDY MATERIAL FOR NISM DOCE EXAM. NISM MOCK TEST AT WWW.MODELEXAM.IN. DEPOSITORY OPERATIONS CERTIFICATION EXAMINATION STUDY NOTES.BASED ON LATEST SYLLABUS,EASY TO LEARN,CONCISE,USEFUL TO PASS.NATIONAL INSTITUTE OF SECURITIES MARKETS EXAM IN DEPOSITORY OPERATIONS.NISM,AMFI,NCFM MOCK TEST AT WWW.MODELEXAM.IN
“The IFMR Capital’s multi-originator securitisation (MOSEC) allows small and medium sized microfinance institutions(MFIs) to combine their microloan portfolios in a single pool to achieve the required critical size.”
Constraints to the Development of Microfinance Sector in PakistanAyesha Majid
The Growth rate of Pakistan’s Microfinance Sector is not as high as expected. The anticipation was rise in sector growth once it enters the growth stage from the introductory stage but this has failed to happen. The paper aims to look at the reasons because of which the formal sector has growth rate lower then what international agencies like ADB and the federal government expected. For this 10 year data of the sector has been analysed from start of growth period in 2007 to 2016. The main constraints faced by the sector are access, sustainability, innovation, efficiency and risk management.
This study examines the current environment of financial market in Pakistan against the contextual history of sustained fundamental limitations that refrain the sector’s growth.
April 2014 Edition of BEACON, A Monthly Newsletter by SIMCON.
Inside this issue:
INDUSTRY ANALYSIS : Non Banking Financial Company
COMPANY ANALYSIS : STFC Ltd.
Concept of the Month
Quiz
Did You Know?
What are the most important economic ideologies? How did they originate? Who were the theorists behind them? And how did these ideas evolve? In this Spark session, Ravi traces the history of economic thought from seventeenth century onwards to provide a context to the current fractious economic policy debates and how one amongst these ideas will define our future.
We often dismiss stories, saying "anecdotes aren't data," but data enriched with anecdotes can be far more effective than just data in changing minds and getting people to pay attention. In this Spark session Amy Jensen Mowl & Vaishnavi Prathap highlight a few examples where just adding some narrative elements to data can have a big impact in overall communication.
Framework for Estimating the Capital Against Event RiskIFMR
Events like natural disasters can impact the performance of a credit portfolio. However, the relation between the event occurrence and the eventual portfolio loss is a complex one. In this presentation Vaibhav Anand talks about an initial framework to estimate the potential loss due to natural disasters.
How much can asset portfolios of rural households benefit from formal financi...IFMR
Vishnu Prasad & Rachit Khaitan talk about their research paper “How much can asset portfolios of rural households benefit from formal financial services?” This paper is a systematic attempt to quantify the benefits of financial inclusion and capital markets access using tools of modern finance.
In this Spark session Ravi Saraogi talks about why estimating default risk in fund structures can be a challenging task. He presents on how this process has evolved over the years and the current methodologies for assessing such risks.
IFMR Track presented by Ms. Bindu Ananth, President, IFMR Trust, on New Financial Instruments for Social Enterprises at Khemka Forum on Social Entrepreneurship.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
1. Debt Finance Techniques forMFIs and Agri-CommoditiesMicrofinance & Sustainable Development Summit January 27, 2010
2. Outline About IFMR Capital 3 Cases Equitas micro-loan securitisation (IFMR Trust Pioneer II) Multi-originator micro-loan securitisation (IFMR Capital MOSEC I) Commodity-backed warehouse receipt financing
3. IFMR Capital Mission “To provide efficient and reliable access to capital for every institution that impacts low-income households” IFMR Capital is an Indian non-banking finance company (NBFC) functioning as a financial guarantee company, setup in 2008. Sectors of focus include: Microfinance Agri-commodity backed finance (pilot) Small enterprise finance (pilot) Part of IFMR Trust, based in Chennai, India IFMR Rural Finance (Regional rural financial institutions) IFMR Mezzanine Co. (Mezz finance for MFIs) IFMR Ventures (Incubates & invests in rural supply chain companies)
19. IFMR Trust Pioneer II 1st Mutual fund investment Context No deposits or external debt for NBFC-MFIs Regulatory driven lending (seasonal, concentrated) Indian mutual funds: seeking short term assets Securitization: how to promote healthy structures? Aim To establish microfinance as a high quality asset class Demonstrate a P1+ rating for a micro-loan backed securitization Legal form: Tradable security Widen sources of finance for MFIs to key capital markets investors such as mutual funds and bank treasuries Set a new pricing benchmark for microfinance securitizations Promote structures that are capital efficient (Par vs premium) Establish market standards for evaluating the credit quality of micro-loan portfolios originated by MFIs
21. Structure P1+ 65% of Pool $7 MM Investors Equitas (MFI) sells 55,993 micro-loans ICICI-Prudential AMC, Dhanalakshmi Bank 1 SPV buys loans and issues PTCs (securities) 3 Axis Bank AA 17% of Pool $1.8 MM 2 CRISIL (S&P) rates securities BBB 18% of Pool $1.9 MM IFMR Capital, Axis Bank Cash Collateral 10.6% of Pool Equitas (MFI) bears first loss risk IFMR Trust Pioneer II
22. Time Tranching Accessing <1 yr portion of yield curve improved pricing benchmark Commercial paper rated P1+ yielded approx 5-6% at time of deal IFMR Trust Pioneer II
23. Case IIIFMR Capital MOSEC IFacilitating access to capital markets for small MFIs
24. IFMR Capital MOSEC I 1st Multi-originator securitisation Context 500+ small & medium sized MFIs (100 million unbanked households) Indian banks have consolidated lending to largest 10-20 MFIs Cost of borrowing avg 12-15% Small MFIs lack sizeable unencumbered portfolio for securitization Revolver securitization structure not captured by RBI guidelines
25. Loan-to-Originate Product After due diligence, if a small MFI meets Underwriting Guidelines & Eligibility Criteria, IFMR Capital provides short-term liquidity (2-4 month loans) for MFIs to originate portfolio Portfolio can then be pooled with other small MFIs’ portfolios and securitized -The unencumbered portion of their portfolios is minimal -IFMR Capital issued line of approx $1 MM to each MFI to make fresh loans IFMR Capital MOSEC I
27. Structure P1+ 76% of Pool $5.2 MM Investors Asirvad Sahayata Sonata Satin Dhanalakshmi Bank 1 SPV buys loans and issues PTCs (securities) 3 Unrated 24% of Pool $1.6 MM IFMR Capital 2 CRISIL (S&P) rates securities Cash Collateral 13% of Pool All 4 MFIs bear first loss risk IFMR Capital MOSEC I
29. Farmers’ Dilemma Farmers want price upside: Prices are the lowest at harvest time. Solution: Warehouse receipt financing Farmers also need liquidity: A need for cash today leads to forced selling at low prices. Solution: Local access to commodity exchanges & end buyers Farmers need market access: Local mandi & middlemen offer low prices vs national exchanges
32. Access to commodity market and credit Finance partner for loans ATMNE Branch Clearing & Trading member of NSEL Nat’l Spot Exchange 4. Provide cash / loan 3. Sell or Lodge w/h receipt Farmer / Trader 1. Deposits Commodity IFMR Rural Finance or MFI Warehouse / 3rd party Collateral Manager 2. Issue warehouse receipt A choice to farmer to sell spot or to hold for future
37. Exploring ways to accredit warehouses for storage of commodities in rural areas and taking grading, sorting and packaging services close to farmers
38. Short distance commodity transportation pilots to facilitate farm to market as well as inter-markets movement
39.
40. Product and Market DevelopmentPricing and Evaluation Framework Perception of due diligence team Evaluation based on benchmarks Scoring is on a 5-point scale: 0, 5, 10, 15 & 20 across each of the above sections.
Industry utility – creating infrastructure for efficient and reliable flow of capital to high quality originators-Learn from the monolines, guaranty companies’ mistakes in the west
November 2009
-Banks prefer to lend Jan-March, in time to meet regulatory targets-Bank credit expanding slower than microfinance sector (40% tgt PSL)-$18 billion+ in fixed maturity // liquid plans...ABS mkt was $12 bil in March ‘0-Additional investor scrutiny
-Equitas has a 2 year loan product, hence longer dated maturities
Implications:New investor base- mutual fund and bank treasuriesLower cost of funds for MFIsMarket standards developing for evaluating the credit quality of micro-loan portfolios originated by MFIsEnhanced transparency and disclosure via capital markets oversight of sectorEmergence of ‘BBB’ demandPrice discovery and liquidity (mkt making, portal)
For MFI’s with 1 yr loans, the portfolio can potentially be securitised to access an even shorter term, lower cost portion of the yield curve
-Fortnightly payments
-Geographic & institutional diversification to investors-Rating agency was more conservative on CC given the quick growth of some MFIs-Treasury desk
WRF loan portfolio is very small. It is approx 9-10 customers with Rs. 8.55 lakhs. All loans not repaid. -NSEL offering avg 2-4% better price than Mandi
