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India’s Unlimited Potential: Why the Country Needs to Focus on its Ongoing Reform Agenda, According to HDFC Bank’s Keki Mistry #modernbusinessnetwork#modernusinessindia #modernbusinessamerica#modernbusinesseurope #modernbusinessasia  #modernbusinessgulf #modernbusinessgermany#modernbusinessworld #ReserveBankofIndia(RBI)#ESG#inflation#UnifiedPaymentsInterface

Here are some of the top trending global current affairs in economics, banking, and investment banking: 1.The Rise of Gen AI in Banking: - Banks are set to benefit significantly from the rapid adoption of generative AI, with productivity potentially increasing by 20–30% and revenue by 6%. This trend is reshaping roles across the banking sector and is expected to have a transformative impact on the industry. 2.Myanmar's $3.6 Billion Dam Project: - Myanmar has revived the Chinese-backed Myitsone dam project, which is valued at $3.6 billion. This project had been previously suspended in 2011 but is now back on track, signaling a major policy shift². 3.India's Market Capitalization Achievement: - India's market capitalization has crossed the $5 trillion mark, making it the fifth country globally to reach this milestone. This reflects the growth and strength of the Indian economy and its financial markets. 4.Bank of Maharashtra's Business Growth: - The Bank of Maharashtra has led the way in business growth for the fiscal year 2024, with a total domestic business growth of 15.94%, outpacing other public sector banks in India. 5.RBI's Record Dividend Approval: - The Reserve Bank of India has approved a record dividend of Rs 2.11 lakh crore to the Indian government for the accounting year 2023–24. This is the highest-ever surplus payment made by the RBI. 6.EPFO's Auto-Mode for Claims: - The Employees’ Provident Fund Organization has introduced an auto-mode settlement process for claims related to education, marriage, and housing loans. This initiative aims to streamline the settlement process and enhance efficiency. #CurrentAffairs #BreakingNews #NewsUpdate #WorldNews #TrendingNow #LatestNews #InTheNews #DailyNews #GlobalNews #NewsOfTheDay #Economy #EconomicNews #GlobalEconomy #EconomicDevelopment #Banking #BankingIndustry #BankingNews #Finance #InvestmentBanking #InvestmentBank #CapitalMarkets #CorporateFinance #InvestmentBankers #IPO #FollowMe #FollowForFollow #Connect #Networking #GrowWithMe #LinkedInCommunity #LetsConnect #FollowBack #ProfessionalNetwork #ExpandYourNetwork #opentowrok

India’s Unlimited Potential: Why the Country Needs to Focus on its Ongoing Reform Agenda, According to HDFC Bank’s Keki Mistry #modernbusinessnetwork#modernusinessindia #modernbusinessamerica#modernbusinesseurope #modernbusinessasia  #modernbusinessgulf #modernbusinessgermany#modernbusinessworld #ReserveBankofIndia(RBI)#ESG#inflation#UnifiedPaymentsInterface

India has made significant strides in financial inclusion, as shown by the rise in the Financial Inclusion Index (FI-Index) from 60.1 in March 2023 to 64.2 in March 2024. This improvement reflects advancements across all sub-indices, particularly in the 'Usage' dimension, highlighting a deepening financial inclusion nationwide. The Economic Survey 2023-24 revealed that the gender gap in bank account ownership has narrowed, with 78% of males and females over 15 years old having a bank account in 2021, up from 44% for males and 26% for females in 2011. Adult accounts at formal financial institutions increased from 35% in 2011 to 77% in 2021, with borrowing from formal sources rising from 8% to 12% during the same period. There has been a notable reduction in the financial services access gap between the rich and poor. India is also advancing digital financial inclusion with initiatives like UPI123Pay and UPI Lite, which promote digital financial tools and enhance direct benefit transfers (DBT) and digital payments. With over 25 years of leadership in financing, Lord Fincap Limited is dedicated to supporting India's evolving financial landscape. We specialize in micro and inclusive financing solutions, empowering individuals and communities to enhance their economic participation and sustainability. Our efforts align with national goals, ensuring financial services reach everyone and contributing to a brighter, more equitable financial future. Join us on this transformative journey at www.lordfincap.com and discover how our innovative financing solutions can empower you. #FinancialInclusion #DigitalIndia #SustainableDevelopment #LordFincapLimited #Microfinancing #InclusiveFinance

As a consultant with Kerala Vyapara Vyasayi Ekopana Samiti (KVVES) for almost a year, I have closely worked with the MSME sector by facilitating stakeholder discussions and exploring their unique challenges. KVVES, the world's largest trade body, is eagerly awaiting the acceptance of the proposals from Fisme India to the Government.  Let's consider the case of retailers/traders (reclassified under MSMEs) in Kerala. They play a significant role in preserving the regional knowledge, expertise, and personal relationships essential for maintaining the state's economic stability. These businesses create job opportunities, provide essential goods and services, and contribute to the people's economic development and livelihood enhancement. Moreover, their role is crucial in meeting the diverse needs of Kerala's urban population and adapting to lifestyle changes. They stabilise urbanisation and improve the living standards of local communities, thereby contributing to the economy. According to the 2011 Census, Kerala ranks second among Indian states in terms of urbanization, with 47.7% of its population residing in urban areas. However, in recent years, the challenges this sector faces have surged due to technology advancements, changes in consumer preferences, and increased competition from large corporations. Economic fluctuations, pandemic-led disruptions, and natural disasters have also contributed to the rise in challenges. The inability to obtain any protection against such unexpected events or losses and the impact of stringent licensing regulations further jeopardise their economic stability. As per a study by the U.S. Banking Group, India's GDP is projected to reach 85.97 lakh crore by 2050, making it the largest wealth creator in the world, surpassing China. Bloomberg Economics predicts India's economy will grow by 9% by the decade's end, and China's economy is expected to slow to 3.5%, making India the world's biggest growth driver by 2028. This indicates significant economic growth prospects for India in the coming decades. With an estimated 65% of the population under 35, ensuring robust and sustainable economic stability and encouragement is crucial. It is crucial to address these issues and also the concerns related to credit accessibility. Fisme India has proposed a brilliant idea to achieve this goal: creating a specialised commercial bank. This bank can focus on improving and customising financial services that cater to the specific needs of this vital sector. Another potential solution proposed is establishing an equity guarantee fund trust. This trust can proactively mitigate the risks associated with equity financing and create opportunities to inject capital into the industry to support its growth. #msme #fisme #kvves #credit #banking #retail #smallscale #equityfund

The scarcity of quality financial advisors India's financial landscape is evolving rapidly, with a significant rise in investments over the past few years. The number of demat accounts almost doubled from 36 million in 2019 to 115 million in 2024, and mutual fund investors have seen similar growth. However, the scarcity of quality financial advice is a major hurdle. SEBI reports only about 1,300 registered investment advisors (RIAs), creating a poor ratio of one advisor for every 76,800 investors. Despite Indian households saving about $500 billion annually, net investing in equity was only $3.5 billion last year, a mere half a percent of our annual savings. This gap highlights the critical need for quality financial advice. While there are online resources, they often lack the depth and personal touch required to inspire confidence and significant investment. Financial education in India is another missing link. Unlike the US, where financial literacy starts early, India has yet to foster such conversations. The business model for financial advice is also a challenge, with most savers reluctant to pay fees, leading to a skew towards commission-based models. To bridge this gap, we need more RIAs and a supportive ecosystem that allows them to thrive despite regulatory challenges #FinancialLiteracy #Fintech #India #Invests

Capital flows to that which is more efficient. FnO included. This economics truism has to be frozen. The opposite has been propagated and have caught on nationwide, bit like Superstition or Covid. Reserve Bank of India (RBI) Guess it will be intervened to reduce cost of capital before private capex kicks in. For whom? SEBI Guess it will be intervened before a New Product is given birth to. For whom? Reserve Bank of India (RBI) Instead, one may find pockets, globally, which is less efficient than our FDs, like Mr. Ambani did, raising cheapest debt a few years ago for his company. SEBI Instead, one may arm the Citizen by tilting it in his favor so that in five, ten years he is ready for non-zero-sum domains. A full 1 crore of these. It's a must to reduce the inequality, local & global. We are at the opposite end as of now. Eg. Tax differential vis-a-vis the FIIs. Unbelievable. Even, permitting multiple Expiries on multiple instruments doesn't gel. For whom? It's useless for the aforesaid 1 crore target. Get out of Bombay. Go somewhere distant and secluded. Indian Ministry of Finance Piyush Goyal NITI Aayog Rashtriya Swayamsevak Sangh

The article discusses whether India should privatize its Public Sector Banks (PSBs) rapidly or adopt a gradual approach. While PSBs have struggled with high non-performing assets (NPAs) and lower profitability, private banks have outperformed them in efficiency and financial metrics. However, PSBs play a vital role in financial inclusion, lending to critical sectors like agriculture and infrastructure, and supporting the economy during downturns. RBI research shows that while private banks excel in profitability, PSBs are more inclusive and resilient in crises. Experts suggest a calibrated approach to privatization, starting with weaker PSBs while retaining government ownership in stronger banks like SBI. The focus should be on balancing efficiency with developmental goals to ensure rural and underserved areas continue receiving banking services. A measured strategy can help India modernize its banking sector without compromising financial inclusivity or stability. What is your thoughts for this? #publicsector #privatization #approac #SBI #thehinduanalysis #financial #data #india #government #exam #job StudyIQ Education NEXTIAS, a Unit of Made Easy Group Drishti IAS

India’s Financial Inclusion Index Soars to 64.2 in 2023-24! The recent report by the Reserve Bank of India highlights a significant improvement in the Financial Inclusion Index (FI-Index) to 64.2, up from 60.1 in March 2023. This remarkable progress underscores India's steadfast efforts to enhance financial accessibility and inclusion across various sectors. What is Financial Inclusion? Financial inclusion ensures that individuals and businesses have affordable access to essential financial services, such as banking, insurance, and credit. It aims to tackle challenges like unemployment, lack of financial education, and limited access to financial services, ensuring that economic growth benefits everyone. As the Co-founder of Indifly Group, I am proud to align our efforts with this national vision. Our commitment to fostering entrepreneurship and promoting digital inclusion perfectly complements the strides India is making towards comprehensive financial inclusion. At Indifly Group, we are creating robust platforms and ecosystems in the sectors like banking, finance , payments , education, e-commerce & social commerce , etc for the inclusive growth of Bharat . Indifly Group is making significant contributions to financial inclusion by addressing critical issues such as unemployment, lack of financial education, and restricted access to financial services. Indifly Group's Impact: Partners : Engaging with over 50,000 partners nationwide. Customers : Serving more than 1 million individuals and businesses. Annual Payment Processing : Facilitating transactions exceeding ₹1000 Crore annually. Annual Loans Facilitated : Empowering businesses with loans surpassing ₹1000 Crore annually. #business #indiflygroup #financialservices #banking #FinancialInclusion #RBI #Bank #empowering #investment #loans #education #finance

In a #Guest Column for #BusinessIndia, Sriram Kalyanaraman argues that privatizing India’s public sector banks (PSBs) is not the right solution to their woes. He emphasizes that #PSBs have played a vital role in economic development, financial inclusion, and agriculture lending. Instead of #privatization, he suggests #reforms like appointing professionals to boards, insulating management from politics, and enhancing #RiskManagement. PSBs' social and economic contributions extend far beyond profits. Strengthening these banks will ensure they continue serving national priorities, balancing #profitability with #SocialResponsibility for #SustainableGrowth. Turn to page 47 to read Sriram's article for deeper insight! https://lnkd.in/gxyjNbAS arbind gupta #Finance #Banking #BFSI #InTheNews