Page 177 - BFSI CHRONICLE 10 th Issue (2nd Annual Issue ) .indd

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Edition July 2022
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A
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Iss
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Annual Issue, 10
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B BFSI Chronicle, 2
BFSI Chronicle, 2 Annual Issue, 10 Edition July 2022
FSI Chron
th th th
n nd
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Mood y ’s committee held an unscheduled
committee held an unscheduled
Moody’s
meeting from 2 May to 4 May ,decided
• Indian econom y at the cusp of an meeting from 2 May to 4 May ,decided
• Indian economy at the cusp of an
unanimously to increase the benchmark
industrial Capex cycle journey as per unanimously to increase the benchmark
industrial Capex cycle journey as per
Morgan Stanley report policy repo rate by 40 basis points to
Morgan Stanley report
policy repo rate by 40 basis points to
• More than 65% of MSMEs optimistic 4.40% from 4%
• More than 65% of MSMEs optimistic
4.40% from 4%
about business growth in 2022
• PM likely to launch 75 digital banks on
about business growth in 2022 • PM likely to launch 75 digital banks on
• Indian banks better their ranks in Asia
August 15
• Indian banks better their ranks in Asia August 15
• The fintech sector owns a powerful one • Rise of Big Tech calls for inter regulatory
• The fintech sector owns a powerful one
• Rise of Big Tech calls for inter regulatory
collaboration – RBI report
in four start-ups, 20 unicorns in 2–3 years
in four start-ups, 20 unicorns in 2–3 years collaboration – RBI report
• Bank loans pick up at almost double the
• RBI issues new rules for credit, debit • Bank loans pick up at almost double the
• RBI issues new rules for credit, debit
cards
cards pace as last year
pace as last year
• Filing ITR has become compulsory for
• India’s April manufacturing and services
• Filing ITR has become compulsory for • India’s April manufacturing and services
those depositing more than Rs.50 lakh in
those depositing more than Rs.50 lakh in PMI growth at five month high
PMI growth at five month high
• Global banking body lauds India’s digital
g
g
g
ta
a
savings account in a single year • Global banking body lauds India’s digital
l
a
l
l
savings account in a single year
public infra
• Bank credit grows by 10.09%, deposits public infra
• Bank credit grows by 10.09%, deposits
t
%
%
t
t
t
4%
4%
• India’s exports up 24% to USD 38 billion
%
%
4%
on
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US
li
38
b
il
o
t
by 10.06% in the fortnight ended on April • India’s exports up 24% too UUSD 38 billion
t
t
by 10.06% in the fortnight ended on April
o
o
d
in April; trade deficitt widened to USD 20
de
de
to
8 as per RBI data in April; trade deficit widened to USD 20
8 as per RBI data
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• India’s high growth rate positive news
• India’s high growth rate positive news billion
billion
on
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c
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o
o
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o
s
c
• PSBs contribute more than private banks
s
c
c
c
c
at
e
pr
iv
for world as per IMF Managing Director
for world as per IMF Managing Director • PSBs coontribute more than private banks s
ba
nk
e
mo
tr
t
ha
n
re
t
F
F
n
F
F
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• NBFCs cannot undertake credit card
• NBFCs cannot undertake credit card in FY 22 credit growth
in in FYY 22 credit growth
n
n
n
n
di
e
2
ow
th
gr
business without prior approval of RBI • • • PS Bs oi ce o c rn th ne w
• PSBs voice concern over the new
PSBs voice concern oveer the new
business without prior approval of RBI
d
• Neo banks to disrupt USD 31 billion
n
in
gu
guidelines on frauds
• Neo banks to disrupt USD 31 billion guidelines on frauds
el
es
• India projected to be worlds fastest
st
te
di
p
a
as
In
Indian Fin tech market • India projected to be worl sds fastest
Indian Fin tech market
y
t
wi
wi
growing economy for second year
t
th
ea
wi
• State run banks told to collaborate,witth growing economy for second year r
• State run banks told to collaborate,with
wi
wi
wi
om
Startups, Fin tech companies
Startups, Fin tech companies according to IMF. India’s economy is isi
n
according to IMF. India’s economy
y
k
k
sk
k
MF
i
s,
sk
n
ar
• Asia facing ‘ stagflationary’ risks, IMF
• Asia facing ‘ stagflationary’ risks, IMF projected to expand 8.2% this year in
sk
sk
ye
s
projected to expand 8.2% this year in
i
Official comparison to 4.4% pegged for China
in
comparison to 4.4% pegged for China
Ch
Official
o
r
• IBC realisations fall below liquidatioon
e
n
m
em
n
em
e
id
n
n
• New reporting requirements for
li
• New reporting requireements for • IBC realisations fall below liquidation
w
qu
d
d
u
u
u
companies put onus on audditors
d
value for the first time
companies put onus on auditors value for the first time
u
t
m
us
u
• Quoting PAN or Aadhaar must deposit
u
ou
o
o
si
s
s
• At 48 billion, India accounts for largest • Quoting PAN or Aadhaar must deepoossit
• At 48 billion, India accoounts for largest
si
nt
r
r
nt
r
nt
number of real-time transactions in the withdrawl of 20 lakhs, current accouunt
number of real-time traansactions in the
nt
nt
nt
r
c
a
a
withdrawl of 20 lakhs, current account
r
r
a
world
world opening
opening
o
h
es
t
io
in
8
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l
• Banks slippage ratio likely to hit 15 year
o
o
o
o
• Banks slippage ratio likely to hit 15 year • CPI inflation soars to 7.79%; highest in 8 8
• CPI inflation soars to 7.79%; highest in
low by next fiscal
low by next fiscal years
years
c
• RBIs credit card curbs may hit NBFCs ,
c
te
• Lenders can invoke personal guarantees
es
c
• RBIs credit card curbs may hit NBFCs , • Lenders can invoke personal guarantees
n
spare banks
in IBC cases, say Supreme Court
spare banks in IBC cases, say Supreme Court
S
S
• PSBs to pay Rs.8000 crore dividend to
• RBI has askedd SSebi to act against agencies
• RBI has asked Sebi to act against agencies • PSBs to pay Rs.8000 crore dividend to
d
d
d
d
ti
ti
Centre
t
ti
a
t
ti
for loans ratinng gaps
for loans rating gaps Centre
ap
• Cabinet appproved Rs.820 crore financial
p
ap
ap
• Banks need to arrest repayment
ap
• Cabinet approved Rs.820 crore financial • Banks need to arrest repayment
p
support for India Post payments bank slippages, support credit growth – RBI
t
t
t
f
f
fo
f
slippages, support credit growth – RBI
t
support ffor India Post payments bank
a
• RBI announces emergency rate hike • Inflation is priority, but growth is
• RBI aannounces emergency rate hike
a
a
an
an
• Inflation is priority, but growth is
.In a surprise move, Monetary policy important – RBI governor
important – RBI governor
.In a surprise move, Monetary policy
n
n
a
n
Th
The Institute Of Cost Accountants Of India
T The Institute Of Cost Accountants Of India
T The Institute Of Cost Accountants Of India
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