CA Bhumi Jain’s Post

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

🚀 **Understanding Committees (Kitty or BC): The Hidden Financial Backbone in India** 🇮🇳 In a country like India, where informal financial systems often outpace formal ones, Committees—also known as *Kitty* or *BC*—play a crucial role. These community-driven savings groups have been empowering individuals and communities for decades. 💡 **Did you know?** Committees operate on trust and mutual cooperation, allowing members to pool resources and access lump sums when needed. This system is especially vital in rural and semi-urban areas where access to formal banking is limited. 🤔 **Why are Committees still relevant today?** - **Financial Inclusion**: They offer a safety net for those without access to traditional banking. - **Community Building**: They strengthen communal bonds, creating a support system beyond just financial assistance. - **Adaptability**: Committees are flexible, evolving with the needs of the members and often providing quicker access to funds compared to formal institutions. 🗣 **Let’s discuss:** - Have you or someone you know participated in a Committee? - What are your thoughts on the role of Committees in modern India's financial ecosystem? - How can technology enhance the efficiency and transparency of Committees? Looking forward to your insights! 🌐 #Finance #FinancialInclusion #India #Committee #Kitty #BC #CommunityEmpowerment #FinTech

💼 SARFAESI Act: Strengthening India's Financial Backbone 💡 In the world of finance, few legislations have had as profound an impact on asset recovery and credit discipline as the SARFAESI Act (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002). This powerful legislation serves as a critical tool for financial institutions, enabling them to manage non-performing assets (NPAs) effectively and ensure the health of India’s banking ecosystem. Why is SARFAESI Act Important? 🔹 Swift Asset Recovery: SARFAESI empowers banks and financial institutions to recover loans efficiently by bypassing lengthy court processes. 🔹 Enhanced Creditor Confidence: By providing legal backing to enforce security interests, it encourages greater trust in lending and investments. 🔹 NPA Management: With provisions to securitize and reconstruct financial assets, SARFAESI helps mitigate the impact of bad loans on the economy. 🔹 Boosting Economic Growth: By improving the financial sector's stability, it supports a healthier credit flow to businesses and individuals. 🔹 Fair Processes: The Act ensures a balance between the rights of borrowers and lenders, promoting accountability and transparency. The Human Side of SARFAESI Beyond its technical aspects, the SARFAESI Act is about enabling financial inclusion and ensuring resources are used efficiently. When NPAs are managed effectively, funds are freed up to support businesses, create jobs, and fuel dreams. Our Role as Professionals As finance professionals, entrepreneurs, or citizens, we can all play a part: ✅ Businesses: Maintain financial discipline and honor credit obligations. ✅ Lenders: Use SARFAESI judiciously to ensure fair outcomes. ✅ Citizens: Advocate for financial literacy to prevent defaults. SARFAESI is not just a law—it’s a cornerstone of a stronger, more resilient financial India. Let’s acknowledge its importance and work toward a more robust financial system together! 💬 What are your thoughts or experiences with SARFAESI? Share your insights in the comments! #SARFAESI #FinancialDiscipline #Banking #EconomicGrowth #NPARecovery #IndiaForward

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

🌟 NRI Guide to Banking & Investment in India 🌟 Discover the essentials of banking and investment in India as an NRI. Gain insights on: Account types & benefits Tax implications Investment opportunities Regulatory framework Join our "Foundation for Financial Freedom" course with finance coach Ramamurthy, who has guided over 50 people to financial independence. #nri #nriindians #nriindian #learnfinance #learnfinances #learnfinancetherightway #learnfinancewithus #learnfinancepage #learnfinance1 #learnfinancewithfinelite #learnfinanceterms #learnfinanceskills

Celebrating 78 Years of Independence as a Proud Banker. Sharing some India’s Financial Milestones on this specious occasion: As we celebrate India’s 78th Independence Day, it’s inspiring to reflect on the remarkable progress our nation has made, particularly in the financial sector. With over 500 million bank accounts opened under the Pradhan Mantri Jan Dhan Yojana, financial inclusion has empowered millions, bringing banking services to every corner of the country. Digital transactions have surged, with UPI (Unified Payments Interface) processing over 9 billion transactions per month, making India a global leader in digital payments. Our banking industry’s resilience and adaptability have been key to driving economic growth and supporting the dreams of our citizens. As a proud member of this sector, I’m committed to continuing this journey by fostering innovation, building trust, and ensuring that our services reach every Indian, no matter where they are. On this Independence Day, let’s celebrate our progress and pledge to contribute to India’s financial future. Jai Hind! 🇮🇳 #IndependenceDay #IndiaAt78 #FinancialInclusion #DigitalIndia #ProudBanker

As India aspires to become the third largest economy, the financial sector shall play an extremely important role to support and sustain the country’s high economic growth. In this context, I am happy to announce that CII is organising the Financing 3.0 Summit on 2-3 September 2024 in Mumbai. The theme of the Summit is ‘Preparing for Viksit Bharat. The Summit shall have deliberations on various facets of India's Financial Sector. It shall witness a congregation of senior representatives from India’s financial services ecosystem, senior policy makers and dignitaries from the Indian Government, financial sector regulators, corporates, academia, and new age tech companies. Join us for the intriguing discussions by registering at https://lnkd.in/gF8wjEZt Kindly note that the registration is free till 15th July 2024. Thank You Partners Union Bank of India, NSE India, Aavas Financiers Ltd, Nucleus Software, YES BANK, Khaitan Legal Associates Legal Associates, PUNJAB & SIND BANK, Fintech Association for Consumer Empowerment (FACE), Indian Venture and Alternate Capital Association (IVCA) #Financing #Banking #NBFC #viksitbharat2047 #PrivateEquity hashtag #VentureCapital #Insurance #Pensions #Financialmarkets #Capitalmarkets #Fintech #Financialinclusion #Familyoffices #Lending #Economists #Academia #Sustainability #BFSI Sandeep Shah

The International Financial Services Centres Authority is a significant initiative by the Indian government to create a world-class financial hub within the country. As it continues to develop and evolve, it will be interesting to see its impact on India's economy and its potential to shape the future of global finance. Visit www.m1nxt.com to know more. #IFSCAuthority #EconomicDevelopment #FutureOfFinance #FinancialInnovation #IFSCDevelopment #IndiaEconomy #IndiaGrowth #IFSCImpact #EconomicEmpowerment #M1NXT

Our Inclusive Finance India Report 2023 is an in-depth, well-researched one-stop, state-of-sector reference book presenting the advancements in the policy and implementation of financial inclusion in the country during the year.   The first chapter on "Micro Finance Marching On" authored by Mr. N. Srinivasan, highlighted India's thriving microfinance sector, boasting the world's second-largest outreach with over 140 million clients, trailing only China. Despite challenges like the 2010 Andhra Pradesh crisis, the sector demonstrates resilience, adapting to new regulatory frameworks and expanding cautiously. Notably, during the fiscal year 2023, active loan accounts increased by 10%, and unique clients grew by 20%, despite facing higher credit losses due to the pandemic. Investors are showing renewed interest due to reasonable returns and low delinquency rates. Srinivasan advocates for regulatory support to facilitate a smooth transition of clients to Small Finance Banks, ensuring sustained growth and financial inclusion. Link to the full report - https://lnkd.in/gvykrZkV #financialinclusion #InclusiveFinance #MicroFinance #SmallFinanceBanks #Report23 #ACCESS Sudipto Saha Akash Shrivastava Satyan Kumar

Dive into the insightful article, "Bankrolling Growth," which explores the pivotal role of financial institutions in driving India's economic expansion. It examines how innovative banking practices and robust financial policies are fueling growth across various sectors. Understand the challenges and opportunities within the banking industry as it navigates the evolving economic landscape.  #EconomicGrowth #BankingSector #FinancialInnovation #SustainableDevelopment #IndiaEconomy #upscmotivation #upscaspirants #upscexam #ias #edukemy #shabbirsir #upscpreparation #geographyoptional