Page 177 - BFSI CHRONICLE 10 th Issue (2nd Annual Issue ) 23062 COPY.indd

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