Underwriters are intermediaries appointed by issuing companies to subscribe to unsubscribed shares in a public issue. They must be registered with SEBI and meet capital adequacy and experience requirements. Underwriters enter agreements with clients specifying their obligations, commission structure, and timelines for subscribing to unsubscribed shares. They cannot benefit beyond their commission and their maximum obligation is capped at 20 times their net worth.
Derivatives are the financial instruments whosevalue is derived from the underlying assets.
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It is called derivatives as its value is derived fromother assets called underlying asset.
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It is a contract that derives its value from changes inthe price of the underlying asset.
Example1:
The value of a gold futures contract is derived fromthe value of the underlying asset i.e. Gold.
Derivatives are the financial instruments whosevalue is derived from the underlying assets.
•
It is called derivatives as its value is derived fromother assets called underlying asset.
•
It is a contract that derives its value from changes inthe price of the underlying asset.
Example1:
The value of a gold futures contract is derived fromthe value of the underlying asset i.e. Gold.
Amalgamation, absorption and purchase considerationBIJIN PHILIP
This presentation contain information regarding amalgamation, absorption, types of amalgamation, purchase consideration and different methods of calculating purchase consideration.
This presentations chalks out in detail information about ALM in Indian Bank. It starts with the basics of Balance sheet; applicability of ALM in real life; Evolution and then starts with main topics of ALM like structured statement; Liquidity risk, its management; currency risk and finally ends with Interest Risk management.
Links to Video’s in the ppt
Balance Sheet
http://www.investopedia.com/terms/b/balancesheet.asp
NII/NIM
http://www.investopedia.com/terms/n/netinterestmargin.asp
www.abhijeetdeshmukh.com
This presentation include Introduction, Origin, Indian scenario, Definition, Growth, category ,Prospectus, Function, Quality Problem and Guideline for Merchant Banking.
Amalgamation, absorption and purchase considerationBIJIN PHILIP
This presentation contain information regarding amalgamation, absorption, types of amalgamation, purchase consideration and different methods of calculating purchase consideration.
This presentations chalks out in detail information about ALM in Indian Bank. It starts with the basics of Balance sheet; applicability of ALM in real life; Evolution and then starts with main topics of ALM like structured statement; Liquidity risk, its management; currency risk and finally ends with Interest Risk management.
Links to Video’s in the ppt
Balance Sheet
http://www.investopedia.com/terms/b/balancesheet.asp
NII/NIM
http://www.investopedia.com/terms/n/netinterestmargin.asp
www.abhijeetdeshmukh.com
This presentation include Introduction, Origin, Indian scenario, Definition, Growth, category ,Prospectus, Function, Quality Problem and Guideline for Merchant Banking.
This material is for PGPSE / CSE students of AFTERSCHOOOL. PGPSE / CSE are free online programme - open for all - free for all - to promote entrepreneurship and social entrepreneurship PGPSE is for those who want to transform the world. It is different from MBA, BBA, CFA, CA,CS,ICWA and other traditional programmes. It is based on self certification and based on self learning and guidance by mentors. It is for those who want to be entrepreneurs and social changers. Let us work together. Our basic idea is that KNOWLEDGE IS FREE & AND SHARE IT WITH THE WORLD
This material is for PGPSE / CSE students of AFTERSCHOOOL. PGPSE / CSE are free online programme - open for all - free for all - to promote entrepreneurship and social entrepreneurship
This PPT contains the procedure for incorporation of banks and nbfc according to rbi guidelines. For detailed guidelines one can visit https://rbi.org.in/scripts/bs_viewcontent.aspx?Id=2651
Merchant banking can be defined as a skill-oriented professional service provided by merchant banks to their clients, concerning their financial needs, for adequate consideration, in the form of fee.
The depository is an organization which holds of investors in electronic form at the request of the investors through a depository participant registered. It also provides services related to transactions in securities.
Banking is defined accepting for the purpose of lending and investment, deposit of money from the public repayable on demand or otherwise and withdraw by cheque, draft order or otherwise.
Ombudsman - An official appointed to investigate individual’s complaint against maladministration especially that of public authorities.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
2. Underwriter are important intermediary in the new issue /primary market next to merchant banker/lead banker, but after April 1995 is not mandatory. Underwriters are appointed by the issuing companies in consultation with the lead managers/ merchant bankers to the issues. Introduction
3. To act as underwriter, a certificate of registration must be obtained from SEBI. A SEBI registered merchant banker/ broker would not require a separate registration. The necessary infrastructure like adequate office space, equipment and manpower to effectively discharge the activities past experience in underwriting/ employment of at least two persons with experience in underwriting Any person directly/indirectly connected with the applicant is not registered with SEBI as underwriter or previous application of any such person has been rejected or any disciplinary action has been taken against such person under the SEBI act regulations Capital adequacy requirement of not less than the net worth of Rs 20 lakh the capital adequacy requirement of broker underwriter would be specified by the stock exchange concerned The applicant/director/principal officer/partner has been convicted of offence involving moral turpitude or found guilty of any economic offence and is fit and proper person Registration
4. The applicant fee for registration is 25000 every underwriter has to pay registration fee of Rs 10 lakh at the time of grant of certificate. To keep the registration in force renewal fee Rs 5 lakh every 3 years from the 4th year the date of initial registration is payable. Failure to pay the fee would result in the suspension of the certificate of registration. fee
5. The agreement among other provides for the period during which the agreement is in force, the allocating of duties and responsibilities between the underwriter and the client, the amount of underwriter obligations the period within which the underwriter has to be subscribe to the issue after being intimated by/ on behalf of the issuer, the amount of commission / brokerage, and details of arrangements if any made by the underwriter for fulfilling the underwriting obligations. Agreement with clients
6. An underwriter cannot derive any direct or indirect benefit from underwriter the issue other than by the underwriter commission . The maximum obligation under all under writer agreements of an underwriter cannot exceed 20 times his net worth . Underwriters have to subscribe for securities under the agreement within 45 days of the receipt of intimation from the issuers. GENERAL RESPONSIBILTIES
9. The bankers to an issue are engaged in activities such as acceptance of applications along with application money from the investors in respect of issues of capital and refund of application money. Bankers to an issue
10. To carry on the activities as a banker to an issue, a person must obtain a certificate of registration from the SEBI. The SEBI grants registration on the basis of all the activities relating to banker to an issue in particular with reference to the following requirements: The applicant has the necessary infrastructure, communication and data processing facilities and manpower to effectively discharge his activities, The applicant/any of the directors of the applicant is not involved in any litigation connected with the securities market/has not been convicted of any economic offence; Is a scheduled bank and Grant of a certificate is in the interest of the investors. A banker to an issue can apply for renewal of his registration three months before the expiry of the certificate. Registration:
11. Every banker to an issue has to pay to the SEBI an annual fee of Rs 2.5 lakh for the first two years from the date of initial registration, and Rs 1 lakh for the third year to keep his registration in force. The renewal fee to be paid by him annually for the first two years is Rs 1 lakh and Rs 20,000 for the third year. Non-payment of the prescribed fee may lead to suspension of the registration certificate. FEE
12. When required a banker to an issue has to furnish to the SEBI the following information: The number of issues for which he was engaged as a banker to an issue; The number of applications/details of applications’ money received; The dates on which applications from investors were forwarded to the issuing company/ registrar to an issue; The dates/ amount of refund to the investors. General Obligations and Responsibilities:
13. A banker to an issue is required to maintain books of account/records/ documents for a minimum period of three years in respect of, inter alia, the number of application received, the names of the investors, the times within which the applications received were forwarded to the issuing company/ registrar to the issue, and dates and amounts of refund money to investors. Books of Account / Record / Documents
14. Every banker to an issue enters into an agreement with the issuing company. The agreement provides for the number of collection centres at which applications/application money received is forwarded to the registrar, for instance and submission of daily statement by the designated controlling branch of the banker, stating the number of applications and the amount of money received from the investors. Agreement with Issuing Companies
15. If the RBI takes any disciplinary action against a banker to an issue in relation to issue payment, the latter should immediately inform the SEBI. If the banker is prohibited from carrying on his activities as result of the disciplinary action, the SEBI registration is deemed as suspended/ cancelled. Disciplinary Action by the RBI
16. In the conduct of his business, he should observe high standards of integrity and fairness in all his dealings with clients/ investors / other members of the profession. He should exercise due diligence and ensure proper care. He should not make any statement/indulge in any act, practice/ unfair competition harmful to the interest of other bankers or likely to place the latter in a disadvantageous position. Further, he should not make exaggerated oral/written statements to his clients about his qualification / capability to render services or his earlier achievements in this regard. Moreover, a banker to an issue should always endeavour to render the best possible advice to his clients and ensure that all professional dealings are affected in a prompt, efficient and cost effective manner. Code of Conduct Code of Conduct: Every banker to an issue has to abide by the code of conduct specified as follows:
17. Also, he should not divulge to other clients/press/any other party any confidential information in his knowledge about his client. He should also not allow blank applications forms bearing brokers’ stamp to be kept at the bank premises / near the entrance of the premises and accept applications after office hours / or after the date of closure of the issue/or o bank holidays. Finally, he should not act at any time in collusion with other agents in a manner that is detrimental to small investors. He has to abide by all acts, rules, regulations, guidelines, resolutions, notification, directions, circulars and instructions issued by the Government /RBI/ Indian Banks Association / SEBI relevant to his activities as a banker to an issue. CODE OF CONDUCT