#rbi financial year 2018 | Explore Tumblr Posts and Blogs

jdblogs11 · 7 months

Text

The Rise, Fall, and Rebirth of Yes Bank: A Financial Rollercoaster.!

The Birth of Yes Bank

Founded in 2004 by Rana Kapoor and Ashok Kapur, Yes Banks aimed to be a dynamic and innovative player in the Indian banking sector. It swiftly gained a reputation for its customer-centric approach and technology-driven services. Its growth was characterized by aggressive lending to emerging sectors, which contributed to its rapid expansion.

The Rise and Success

Yes Bank’s initial years were marked by impressive growth and innovation. The bank introduced several novel concepts such as the “Greenfield Banking” model, which focused on niche businesses, and “Knowledge Banking,” a unique approach to serving customers in the knowledge economy.

By 2017, Yes Bank had become India’s fourth-largest private sector bank, with a strong balance sheet and a wide range of financial products and services. It was recognized for its outstanding customer service and technological advancements, making it a favorite among urban and rural customers alike.

The Fall

The bank’s meteoric rise, however, was followed by a dramatic fall. In 2018, concerns began to surface about its asset quality, which led to a crisis of confidence among investors and depositors. Under-reporting of bad loans, management disputes, and regulatory concerns added to the turmoil. The RBI (Reserve Bank of India) finally stepped in and imposed restrictions, limiting withdrawal amounts for depositors.

The Revival

In March 2020, Yes Bank found a savior in the form of a consortium led by State Bank of India (SBI). This consortium infused much-needed capital, helping the beleaguered bank to get back on its feet. A new management team, led by Prashant Kumar, took charge, and a comprehensive restructuring plan was put in place.

Yes Bank’s revival was nothing short of remarkable. The bank undertook a rigorous asset quality review, recognized non-performing assets, and took steps to improve its capital adequacy and governance. It also refocused on its core strengths, including retail banking and small and medium enterprises.

A Bright Future

As of our knowledge cutoff date in September 2021, Yes Banks was on the path to recovery. It had reported profits and showed signs of stabilizing. Its renewed focus on digitization and customer-centric services indicated that it was keen to rebuild its image and regain the trust of depositors and investors.

The story of Yes Bank is a testament to the challenges and opportunities in the ever-evolving banking industry. Its rollercoaster journey from being a rising star to facing near-collapse and subsequent revival is a remarkable story in India’s financial landscape. Yes Bank’s future is yet to be fully written, but its journey serves as a valuable case study in the banking sector’s resilience and adaptability.

0 notes

thoughtfulbearmusic · 1 year

Text

Why crypto has come under India’s anti-money laundering law

In recent years, cryptocurrencies have gained immense popularity worldwide. With their decentralized nature, lack of regulation, and potential for anonymity, they have become a favorite of many investors and traders.

However, as with any form of financial transaction, there is a risk of money laundering and other illegal activities.

The Indian government has recently taken a tough stance against cryptocurrencies, bringing them under the purview of the country’s anti-money laundering (AML) laws. This move is aimed at curbing the use of cryptocurrencies for illicit activities such as money laundering and terror financing. India has recently tightened its grip on the cryptocurrency market by bringing it under the purview of its anti-money laundering law. The move has come amid concerns about the potential misuse of digital assets for illegal activities such as money laundering, terrorism financing, and drug trafficking.

India, like many other countries, has recognized the potential risks associated with cryptocurrencies. To combat these risks, the country has enacted several measures to regulate the use of digital assets, including the inclusion of cryptocurrencies under its anti-money laundering (AML) law.

In this article, we will explore why cryptocurrencies have come under India’s AML law and what it means for the crypto industry in India.

Central Government has brought digital assets and fiat currency

Cryptocurrencies have gained popularity in recent years, with many investors flocking to them as an alternative to traditional assets. However, this popularity has also led to concerns about their use for illicit activities. Cryptocurrencies are decentralized and provide anonymity, making them an attractive option for those looking to launder money or finance terrorism.

The Prevention of Money Laundering Act (PMLA) was introduced in India in 2002. It aims to prevent money laundering and other financial crimes by establishing stringent measures for the identification, verification, and reporting of suspicious transactions. The act was amended in 2018 to include virtual currencies, which are defined as “digital representation of value that can be traded or transferred electronically.”

Under the PMLA, any entity dealing with cryptocurrencies, including exchanges, wallets, and other service providers, must comply with strict Know Your Customer (KYC) and anti-money laundering (AML) regulations. These regulations require entities to verify the identity of their customers, monitor their transactions, and report any suspicious activity to the authorities.

In addition to KYC and AML requirements, the PMLA also mandates the reporting of any transactions above a certain threshold. For cryptocurrencies, this threshold is set at INR 10 lakh (approximately $14,000). Any transaction above this amount must be reported to the Financial Intelligence Unit (FIU) within 30 days.

The Reserve Bank of India (RBI) has been vocal in its opposition to cryptocurrencies, citing concerns about their potential use for illicit activities. In 2018, the RBI issued a circular banning banks from dealing with cryptocurrencies, effectively cutting off access to the banking system for crypto exchanges and traders.

However, this ban was challenged in court, and in March 2020, the Supreme Court of India overturned the RBI’s ban, paving the way for the resumption of crypto trading in the country. Since then, the crypto industry in India has seen a surge in interest, with many new players entering the market.

However, this growth has also led to increased concerns about the use of cryptocurrencies for illicit activities. In January 2020, the government set up an inter-ministerial committee to examine the issue of virtual currencies and propose regulations. The committee recommended a complete ban on cryptocurrencies, citing their potential for misuse.

While the government has not yet implemented a ban on cryptocurrencies, it has taken steps to bring them under the purview of the country’s AML laws. In March 2020, the Ministry of Finance amended the Prevention of Money Laundering Act (PMLA) to include “virtual currencies” under the definition of “proceeds of crime.”

Under the amended law, crypto exchanges and traders are now required to verify the identity of their customers and maintain records of their transactions. They are also required to report any suspicious transactions to the Financial Intelligence Unit (FIU).

The inclusion of cryptocurrencies under India’s AML laws is a significant development for the crypto industry in India. It means that crypto exchanges and traders will now be subject to the same regulations as traditional financial institutions, which will increase transparency and reduce the risk of illicit activities.

The inclusion of cryptocurrencies under the PMLA has been a significant step in regulating the use of digital assets in India. It has helped to curb the use of cryptocurrencies for illegal activities, including money laundering, terrorism financing, and drug trafficking.

However, the inclusion of cryptocurrencies under the PMLA has also created challenges for the industry. Many cryptocurrency exchanges and service providers have struggled to comply with the stringent KYC and AML requirements, leading to a decline in the number of users and trading volumes.

This move has also raised concerns among the crypto community in India. Some fear that the increased regulation will stifle innovation and growth in the industry. There are also concerns about the practicality of implementing AML measures in the crypto industry, given the decentralized and anonymous nature of cryptocurrencies.

The RBI circular also requires banks to conduct enhanced due diligence on customers who engage in cryptocurrency transactions. Banks are required to monitor these transactions and report any suspicious activities to the authorities.

The move to regulate cryptocurrencies under the PMLA has been welcomed by some as a necessary step to combat money laundering and other illegal activities. However, others have criticized the move as an attempt to stifle innovation and growth in the cryptocurrency market.

The cryptocurrency market in India has been growing rapidly, with a significant increase in the number of users and trading volumes. However, the lack of regulation has also led to instances of fraud, scams, and money laundering.

In conclusion, the inclusion of cryptocurrencies under India’s AML laws is a positive step towards addressing concerns about their potential use for illicit activities. It will increase transparency and accountability in the crypto industry and help to build trust among investors and regulators. However, it remains to be seen how effectively these measures can be implemented and what impact they will have on the growth of the crypto industry in India.

#bitcoin #cryptocurrency #crypto #marketing

1 note · View note

tgh2023 · 1 year

Text

The Cryptocurrency Dilemma: Will India Ban It?

Being in the spotlight, Cryptocurrency is still a mystery for many. One cannot find a solid opinion in its favour or against it. Even after so many years of its existence, opinion is divided on the legitimacy of Cryptocurrency and its uses. On one hand, Crypto ignites the sparks among tech enthusiasts and young investors but on the other hand, it also raises suspicion among the governments of many countries about its credibility.

Countries like Bolivia, Qatar, Russia and Morocco banned Crypto from the country by highlighting its threat to financial stability. The Indian Government also does not seem to be in favour of crypto either. Is Cryptocurrency so dangerous that countries are banning it and taking steps against it?

If you are planning to invest in crypto, it is very important for you that you understand it thoroughly. In this article, we will start with the basic concept of understanding Cryptocurrency first and then we will proceed with why countries are banning it.

THE EVOLUTION OF CRYPTOCURRENCY

Cryptocurrency is a digital or virtual currency that is decentralised and makes payments secure by using blockchain technology. The origin of cryptocurrency was said to be in 2009. But it is recently that crypto gained its popularity and mainstream acceptance. Defying the traditional payment system, cryptocurrency is said to be the next big thing in the financial world.

A decentralised currency refers to a currency that cannot be controlled by any one organisation or governmental body. Many tech enthusiasts and investing experts believe that the cryptographic code and decentralised network of cryptocurrency give it the potential to rise as a safe, secure and fast mode of payment. It also has the potential to reach the untapped market of investment.

But if everything seems so perfect, why are some countries emphasising banning it? The governmental authorities are speculative about the volatility of bitcoins. Governments are of the opinion that the prices of bitcoin fluctuate very sharply because it depends majorly on investor speculation and media hype. The world has seen various crypto crash cases in which investors faced huge losses.

COUNTRIES WHERE CRYPTO IS BANNED

Facing the heat of criticism due to its volatile nature, many countries have imposed an implicit ban on bitcoins or any other cryptocurrency. The list of nations that banned cryptocurrency includes China, Russia, Algeria, Bangladesh, Bolivia, Colombia, Indonesia and many more.

The monetary authority of Singapore has broadened its regulations on crypto to keep it in check and prevent any financial crisis because of it. Currently, Singapore considers bitcoins as property but not as legal tender. The United States has also created a framework to expand the regulations on crypto further. Many American experts believe that crypto markets are not compatible with securities laws. Therefore, it is necessary to keep regulating it with strict measures.

INDIA’S TAKE ON CRYPTOCURRENCY

The journey of crypto started in 2013. It started getting popular in the Indian market but it did not get any support from the Central Government or the Reserve Bank Of India (RBI). In April 2018, RBI warned people about the use of crypto and stated that “virtual currencies are not legal tender in India”. The Finance Ministry of India also formed a committee to formulate a bill regarding cryptocurrency.

In 2019, a bill was passed according to which using, holding, mining, and transferring cryptocurrency comes under a punishable offence with a fine or imprisonment of up to 10 years or both in some cases. However, this ban was lifted in 2020 after the orders of the Supreme Court of India. Finance Minister, Nirmala Sitharaman notified in Rajya Sabha in 2021 that the government is not taking any concrete steps to ban crypto but working to create awareness about its uses.

And finally, in the Union Budget 2022-2023, the government of India levied a 30% tax on the transfer of any virtual currency. Many investors believe this is the first step by the government to recognise the legitimacy of crypto. But the government constantly denies its credibility and legitimacy.

The Governor of RBI, Shaktikanta Das is of the opinion that cryptocurrency should be completely banned from the country and it can just be called gambling. Shantikanta believes that the demand for crypto is based on the make-believe factor. In the words of Shantikanta, “Crypto is a form of gambling without any underlying value and is nothing but a 100 per cent speculation world.”

IS BANNING CRYPTOCURRENCY A SOLUTION?

Despite all the controversies, India is a budding market for cryptocurrency. The country has around 115 million crypto investors who are investing in the company. If the government bans crypto outrightly, then these investors would have to face huge losses. People are investing in crypto keeping high hopes that the government will legalise it soon and will accept it as a valid medium of financial exchange.

There is also the possibility that banning crypto in the country may also lead to the illegitimate use and black marketing of bitcoins. This is why the Finance Ministry of India is taking preventive measures to control the use of crypto while maintaining the sanity of the market.

#business news #bitcoin #bitcoin latest news #crypto latest news #cryptocurrency #cryptonews #cryptocurrencies

1 note · View note

irvinenewshq · 2 years

Text

India ought to pause charge hikes as development fears loom

© Reuters. FILE PHOTO: A Reserve Financial institution of India (RBI) brand is seen on the gate of its workplace in New Delhi, India, November 9, 2018. REUERS/Altaf Hussain By Swati Bhat MUMBAI (Reuters) -India’s central financial institution ought to pause rate of interest hikes, regardless of unacceptably excessive inflation, to keep away from stalling a restoration in financial development, financial coverage committee member Jayant Varma advised Reuters on Monday. The Reserve Financial institution of India’s financial coverage committee has raised its key repo charge by 190 foundation factors because the begin of its tightening cycle in Might, with internet affect of all steps taken leading to a near 250 foundation factors improve, Varma stated. “There isn’t any denying that inflation is unacceptably excessive however the factor is that we’ve given a powerful dose of drugs and the time has come to attend and see if that medication works or if we want one thing much more potent,” he stated. “It’d conceivably be ample. We do not know as a result of we began appearing in April, the results of which might be seen solely in early to mid-2023.” “So we have to let one other quarter go earlier than we all know whether or not our drugs is working.” Varma, in his written MPC minutes, had stated the nation’s financial development outlook is “very fragile” and warned it could possibly be “harmful” to push the coverage charge a lot larger. “I’m actually frightened in regards to the export engine stalling utterly.” With non-public investments slackening during the last decade, the newest restoration in development is being fuelled by authorities expenditure and retail shopper spending. “Out of 4 engines, two are gone and we’re working on two. And there’s a restrict to how far the federal government can maintain that engine working as a result of there are fiscal constraints,” Varma stated. LOWERING INFLATION: RISK VS REWARD Having raised charges aggressively to sort out inflation that has remained properly above the mandated 2%-6% goal band, additional tightening might pose dangers to financial development, significantly given the lags with which financial coverage acts, Varma warned. “So the urgency to deliver inflation down to five% or beneath is fairly excessive and you can’t take two years to do this. That has to occur fairly rapidly,” Varma stated, including that he hoped that the tightening already underway can be ample. “However as soon as it has come down beneath 5%, then how rapidly you deliver it additional all the way down to beneath 4% is known as a query of risk-reward.” “We should always settle for the expansion sacrifice to deliver it all the way down to beneath 5%, however we must be cautious of extreme development sacrifice to do the subsequent spherical of 5% to 4%,” he stated. Varma stated he would like the repo charge being held shut to six% for a number of quarters till inflation is stamped out. In his minutes, Varma had warned towards utilizing financial coverage to handle the autumn within the foreign money, saying the exterior sector must be managed by different devices. Varma identified that the present fall within the rupee was on account of the sharp positive aspects within the greenback globally and never on account of India’s financial fundamentals. India’s inflation is definitely decrease than a number of superior economies for the primary time in a really very long time, “so I don’t see this as a rupee weak point story,” he stated. Additional, elevating the repo charge to make sure the rate of interest differentials stay beneficial for India was not part of the MPC’s mandate, significantly when there was decrease threat of it inflicting imported inflation, he instructed. “I don’t see the specter of inflationary pass-through from the trade charge to be as dangerous as what others are likely to suppose.” Originally published at Irvine News HQ

#Irvine News HQ

0 notes

newventurewealthau · 2 years

Text

6 Benefits of Investing in Cryptocurrencies

Digital money Has a Splendid Future

As per a report named Envision 2030, distributed by Deutsche Bank, credit and charge cards will become old. Cell phones and other electronic gadgets will supplant them.

Digital currencies will never again be viewed as untouchables yet options in contrast to existing money related frameworks. Their advantages, for example, security, speed, negligible exchange expenses, simplicity of capacity, and pertinence in the advanced period, will be perceived.

Concrete administrative rules would promote digital forms of money, and lift their reception. The report gauges that there will be 200 million Smsf cryptocurrency money wallet clients by 2030, and very nearly 350 million constantly 2035.

Chance to be important for a Developing People group

#IndiaWantsCrypto crusade as of late finished 600 days. It has turned into a huge development supporting the reception of digital forms of money and blockchain in India.

Likewise, the new High Court judgment invalidating RBI's crypto banking restriction from 2018 has imparted another surge of certainty among Indian bitcoin and digital currency financial backers.

According to the discoveries, 73% of Indians trust cryptographic forms of money and blockchain innovation. 60% say that the effect of cryptographic money/blockchain will be positive.

By being a digital money financial backer, you stand to be a piece of a flourishing and quickly developing local area.

Expanded Benefit Potential

Enhancement is a fundamental speculation thumb rule. Particularly, during these times when most of the resources have brought about weighty misfortunes because of monetary difficulties prodded by the Coronavirus pandemic.

While interest in bitcoin has given 26% gets back from the beginning of the year to date, gold has returned 16%. Numerous other cryptographic forms of money have enrolled three-digit return on initial capital investment. Securities exchanges as we as a whole know have posted grim exhibitions. Unrefined petroleum costs famously crashed under 0 in the long stretch of April.

Remembering bitcoin or some other digital currencies for your portfolio would safeguard your asset's worth in such questionable worldwide market circumstances.

Digital currency Markets Are On 24X7X365

Rather than regular business sectors, digital currency markets work nonstop, the entire days in a year without weariness. That is on the grounds that advanced money frameworks are basically planned utilizing bits of programming code that are gotten by cryptography.

The functional outline doesn't include human impedance. Along these lines, you are allowed to exchange crypto or put resources into computerized resources at whatever point you need to. That is an extraordinary advantage! Digital money markets are extremely proficient that way.

For more details, visit us :

Bitcoin smsf

Smsf and cryptocurrency

Crypto smsf australia

Best smsf cryptocurrency

#Smsf bitcoin #Self managed super fund cryptocurrency #Smsf crypto australia

0 notes

worldwideanalysis · 2 years

Text

How Will High Per Capita Income of Propel Wearable AI Device Sales?

The increasing public awareness about fitness level and surging public focus on healthy lifestyle, owing to the hectic work schedule and the sedentary life of people, are propelling the usage of wearable devices worldwide. People use wearable devices to track vitals, such as heartbeat, calorie intake, and calories burnt. The real-time information displayed by these devices helps reduce diabetes cases and encourage people to exercise regularly. Owing to the various benefits of artificial intelligence (AI)-powered wearable devices, electronics manufacturers are increasingly adopting AI technologies in their products.

Additionally, the mounting per capita income of people will also help the wearable AI devices market propel at a whopping CAGR of 29.0% during 2019–2024. According to P&S Intelligence, the market was valued at $11,182.8 million in 2018, and it will generate $49,240.6 million revenue by 2024. For instance, the World Bank states that the per capita gross national income (GNI) of China, Australia, and France grew from $10,390 in 2019 to $10,610 in 2020, $48,660 in 2018 to $50,540 in 2019, and $47,600 in 2018 to $50,400 in 2019, respectively.

Read Full Report: Wearable AI Devices Market Revenue Estimation and Growth Forecast Report

Currently, wearable device manufacturers are integrating AI technology in wristwear, such as fitness bands and smartwatches, earwear, and eyewear. In earlier times, AI-enabled wristwear was preferred over other wearables as they are equipped with AI functionalities, such as heart rate monitoring, sleep tracking, and personal voice assistance. All the above-mentioned AI-supported wearables consist of displays, sensors, memory devices, processors, power management systems, and connectivity integrated circuits (ICs). These advanced wearable devices are used in the gaming, healthcare, and consumer electronics industries.

In recent years, AI-enabled wearable device manufacturers are predominantly focusing on partnerships to facilitate the adoption of their products among a greater number of people. For example, in January 2018, Xiaomi Corporation partnered with Oculus to introduce standalone VR headsets, such as Xiaomi Mi and Oculus GO VR Standalone. Both these headsets use Snapdragon mobile VR platform to meet high-processing requirements. Companies such as Fitbit Inc., Google LLC, BRAGI GmbH, Apple Inc., Fossil Group Inc., and Huawei Investment & Holding Co. Ltd., are also entering into partnerships to lure more customers.

Globally, North America dominated the wearable AI devices market in the recent past due to the presence of numerous consumer electronics manufacturers, the high per capita income of people, and hefty investments that were made to encourage AI integration in wearable devices in the region. For instance, the World Bank states that the per capita GNI of the U.S. was $66,060 in 2019. The organization also estimates that the per capita GNI of Canada grew from $49,430 in 2018 to $49,990 in 2019.

In the upcoming years, the Asia-Pacific (APAC) region will emerge as a significant user of AI-enabled wearable devices, owing to the surging disposable income of people, booming population, and increasing adoption of advanced technologies, such as AI. For example, the Reserve Bank of India (RBI) data reveals that the gross national disposable income of India rose from INR 1,73,15,933 crore in financial year (FY) 2017–2018 to INR 1,92,37,943 crore in FY 2018–2019.

Thus, the rising public focus on a healthy lifestyle and escalating per capita income of people are encouraging the usage of wearable AI devices worldwide.

0 notes

pixltechnology · 2 years

Text

How RBI Mandate Aadhaar Masking guidelines for Financial Services

Financial solutions based on Aadhaar are becoming more popular in the field of internet security. By employing Aadhaar numbers as ID proofs, these solutions enable financial institutions to conceal their identities and business operations. This shields the organisation from dangers like credit card fraud. These solutions' underlying technology is also utilised to confirm the identities of both clients and staff. This lessens the risk of identity theft while also enhancing consumer experience and safety. Candidates need to be able to conceal their genuine identities more and more as the 2020 elections draw nearer. This is crucial in the financial industry as people are frequently asked for sensitive information like their income or assets. Candidates can safeguard their identity by utilising aadhaar masking services.

The Indian government and many commercial companies utilise the Aadhaar unique identifying scheme. Businesses and everyday people alike are becoming more dependent on digital services and technology as the globe transitions to a more connected society. The aadhaar card, a distinctive identity card given to Indian citizens, is one example of this service. Businesses and people have used a variety of security measures to secure the aadhaar because it is a highly personal information resource. Utilizing financial industries that rely on Aadhaar masking solutions is one such strategy.

Recognize Masked Aadhaar's Significance in Protecting Data Privacy

In recent years, the subject of data protection has gained importance. People are becoming more and more dependent on these technologies as a result of the expansion of internet-based services and the growing usage of digital platforms. However, because of this dependency, businesses and governments are increasingly able to monitor and follow individuals. The usage of Aadhaar numbers is one method through which businesses and governments may track people.

The UIDAI has introduced a feature dubbed "Masked Aadhaar" in an effort to improve the safety and security of Aadhaar. It resembles a conventional Aadhaar quite a bit, however the Aadhaar number is only partially visible. According to various news sources, about 89% of India's population as of the year 2018 have received an Aadhaar card. Due to the fact that it contains all of the cardholder's biometric and demographic information, the aadhaar card continues to be one of the most important document proofs. The security of the Aadhaar database has always been ensured by the Unique Identification Authority of India (UIDAI). The UIDAI has created a new feature dubbed "Masked Aadhaar" to improve the system and add an additional degree of security.

Aadhaar Card Number Misusers in Financial Institutions and other businesses

Here are five suggestions for doing so: 1. Make payments or create new accounts using the card number. 2. Use the card number to make ATM withdrawals. 3. Get cheap loans by using the card number. 4. Make use of the card number to access financial institutions' premium services.

There is rising fear that financial organisations may be using Aadhaar card numbers improperly. All banks have received a circular from the Reserve Bank of India (RBI) cautioning them against the abuse of Aadhaar cards. This is due to the fact that the Aadhaar card number is connected to a lot of personal information, such as bank account and personal identity numbers (IDs). There have been allegations of people opening new bank accounts and borrowing money using their Aadhaar card numbers.

In October 2013, the Unique Identification Authority of India (UIDAI) distributed aadhaar cards to all citizens of India. The card is a biometric identity document that includes the person's photo, address, and other personal data in addition to demographic data. Financial organisations are extremely concerned about abuse of the card number as a result of the widespread usage of aadhaar cards by Indian residents.

#aadhaarmaskingsolution #MaskedAadhaar #uidai #RBI #RBI regulation #Aadhaarmaskingforfintech #Aadhaarmaskingforbanks #costeffectivemasking #dataprevention #FraudPrevention

0 notes

payrupofficial · 2 years

Text

FIND WAYS TO INVEST SAFELY IN CRYPTOCURRENCY IN INDIA

The rise of cryptocurrency in India is something we have been witnessing for a long time now.

When back in time in 2009, Bitcoin was regarded as nothing more than an interesting phenomenon for the millennials and the technocrats. Despite all this, technicians and futurists forecasted the bright and overwhelming future of cryptocurrencies, which now are drawing the interest of millions from an investment point of view.

Usually, entering the crypto world is done by the complex or intellectual method - mining, as it is commonly called. Taking bitcoins into consideration -bitcoin mining, enforcing the policies by adding blocks of transactions to the blockchain network and that'll earn a user more and more bitcoins. Rewards are given to miners with bitcoins for working in and for the system hand-in-hand.

Cryptocurrency is based on blockchain technology - which is a chain of information registration and distribution that is not controlled by any single institution. The high inflation rates in India along with the restrictive and non-streamlined modes of investment presented a golden opportunity for visionary entrepreneurs to set up cryptocurrency exchanges in the country. Due to the intrinsic nature of crypto and blockchain technology, entrepreneurs were able to give rise to crypto exchanges that have an intuitive and easy-to-use user interface (UI). These crypto exchanges also offered almost no annual maintenance charges (AMCs) and a much lower trading fee moving forward.

With 24x7 availability, minimal design, and potentially sky-high returns on investment for any individual - crypto exchanges boomed and many wanted to get a piece of this pie.

Good to know!

During the first big bull rule, a lot of people signed up for Bitcoin in 2017 and 2018, but nearly 90 percent dropped out. However, after the Supreme Court in March reversed an RBI circular that prevented financial institutions and banks from dealing in crypto, many investors are flocking back slowly again.

How to start investing in cryptocurrency?

Take proper advice and caution while investing in cryptocurrencies. In the past, people invested at different cryptocurrency price points in lump sums or at ICOs (initial coin offerings – similar to an IPO) of other cryptos also lost money as nearly 95 percent of ICOs which were a rage in 2017 didn’t materialize.

When you closely compare the best cryptocurrency, it’s an investment option that beats mutual funds, bank fixed deposits or even Sensex and Nifty returns over a three-year horizon. There are several cryptocurrency exchanges in India such as WazirX, CoinDCX, Zebpay, BuyUcoin, and UnoCoin among others.

The more the exchanges the more users they bring to the market and this is a fact. But with only 900 odd Bitcoins being mined daily demand is increasing, and so is the cryptocurrency price. For the record, the bitcoin supply is capped at 21 million of which about 18.5 million have already been mined and a significant amount is lost forever, stuck in crypto wallets with missing keys!

The large fluctuations happen now because of institutions investing in Bitcoin. Many multinational players have got into the market and are investing some of their clients’ money. In terms of numbers, bitcoin may consolidate between $30,000 to $35,000 in the short term for a month but will gain after that.

Final Thoughts…

Popular bill payment facilities are available on Payrup!

Payrup has a host of facilities that can all be paid online using our platform.

Choose to make payments for mobile prepaid, mobile postpaid, dth, electricity, landline bills, piped gas, broadband bills, water bills, e-gift cards purchases, cable tv bills, credit card bills, health insurance purchases, housing society payments, life insurance premium purchases, loan repayments, hospital payments, subscriptions, education fees, fastag payments, LPG gas bills, municipal services, and municipal taxes’ payments Payrup has it all covered for our users under one roof.

0 notes

npaconsultant-stuff-blog · 2 years

Text

If a bad bank wants to succeed, it need a healthy NPA market

The scenario of Non-Performing Assets or NPA is certainly not good. According to the report published by the RBI, the gross NPA of the banking sector may increase up to 15 percent by the end of this financial year. It is a 20-years high.

No wonder, the government is enforcing more stringent mechanisms to handle npa account settlement. It has been well aware of the problem. The IBC (Insolvency and Bankruptcy Code) has been modified and interpreted to respond to the needs of sick companies.

The npa debt settlement process will be further strengthened to handle the situation.

It needs multiple efforts to resolve the issue

Is the resolution of bad debt the only remedy? No, the problem has multiple layers, and the resolution has to be multilayered.

A large proportion of bad debt is contributed by big-ticket companies. It is a messy business to resolve the claims of creditors of such companies. It requires high expertise in legal and commercial matters. A regular offtake of NPA in smaller amounts would be the best idea.

To help in faster npa account settlement, there have been ARCs created. These Asset Reconstruction Companies are considered a prime vehicle to scrutinize the debt. They are allowed to buy NPA in the form of cash and securities.

The percentage of securities used to pay the bank represents the share of the risk borne by the bank even after it sells the NPA.

As of now, the assets under ARC are around 1.5 Trillion, which is more than 14 percent of the stock of NPA. The growth rate of assets managed by ARS has reduced in 2019. Also, the investors added after 2018-19 are foreign portfolio investors. They are capable of raising funds overseas at the lower interest rates.

There was a suggestion to form a“bad bank” to deal with the problem. Still, the definition of a bad bank is not clear. However, it looks that it will be an ARC for which the capital will be given by the government. It will be aligned to commercial considerations. Additional capital within the boundaries of fiscal properties is welcome.

For the success of a bad bank, it is a necessary precondition that private capital operates at reasonable risk.

To allow it to happen, banks will have to take on certain levels of risk. They cannot transfer everything to the buyer. Also, new sources of domestic capital must be encouraged to participate.

#NPA management

0 notes

thesecrettimes · 2 years

Text

Financial Services Institutions Bureau: FSIB to be much more than just a headhunter

The Financial Services Institutions Bureau (FSIB), which will replace the Banks Board Bureau (BBB), will be much more than a mere headhunter to fill in key posts at state-run banks, insurers and other financial institutions (FIs). According to an official order, reviewed by FE, the FSIB will advise the government on a suitable performance appraisal system for whole-time directors and non-executive chairmen of the state-run financial services institutions. It will build a data bank relating to the performance of public-sector banks (PSBs), FIs and insurance companies. It will advise the government on “formulation and enforcement of a code of conduct and ethics for whole-time directors” in these institutions. The FSIB will even help these state-run banks, FIs and insurers in developing business strategies and capital raising plans, etc. These functions will be in addition to its role in recommending candidates for appointment as whole-time directors and non-executive chairpersons of public-sector banks (PSBs), financial institutions and public-sector insurers (PSI). The FSIB will comprise a chairperson nominated by the central government; the secretaries of the departments of financial services and public enterprises; the chairman of the Insurance Regulatory and Development Authority of India; and a deputy governor of the Reserve Bank of India (RBI). Apart from them, there will be three members with knowledge of banks and other financial institutions, and three more with knowledge of insurance, according to the order. Former BBB chairman Bhanu Pratap Sharma has been selected to head the FSIB for two years or until further orders. Sharma was at the helm of the BBB since 2018 until his term ended in April 2022. The government has also appointed three part-time members of the new entity (FSIB) who will be looking after affairs relating to PSBs and FIs–Animesh Chauhan, former chairman and managing director of Oriental Bank of Commerce; Shailendra Bhandari, former managing director and chief executive of ING Vysya Bank; and former Reserve Bank of India executive director Deepak Singhal. Similarly, the government has decided to appoint three more part-time members to handle affairs relating to insurance—Usha Sangwan, former managing director of LIC; AV Girija Kumar, former CMD of Oriental Insurance and Sujay Banarji, former whole-time director of IRDAI. In future, the FSIB chairman and the three members handling affairs relating to banking and financial institutions will be selected by a search committee that will comprise the governor of the Reserve Bank of India (RBI) and the secretaries of the departments of financial services and personnel and training (or such other secretary as may be approved for this purpose by the Appointments Committee of the Cabinet). Similarly, the part-time members relating to the insurance sector would be chosen by the chairman of the IRDAI and the secretaries of the departments of financial services and personnel and training. “To avoid conflict of interest, the part-time members shall be either retired or, if working, be required to discontinue work. Further, such members shall have no commercial relationship with any commercial entity that has commercial relationship with any PSB or FI or PSI, and the central government may consult the regulator concerned in this regard,” according to an order by the department of financial services. The FSIB chairperson and part-time members will get a fee of Rs 50,000 per sitting. “FSIB shall be a professional body with autonomy in its affairs and shall have its own secretariat. It may appoint a person, or take on deputation from RBI a person in the rank of chief general manager or general manager in RBI, to act as full-time secretary of its secretariat,” the DFS said. Read the full article

0 notes

credgenics · 2 years

Text

Credgenics - NBFC Credit Collections | Digital Debt Collections

In the last decade, the financial sector in India has seen a paradigm shift in credit growth with Non-Banking Financial Companies (NBFC) acting as the key catalysts in this growth. As per data from the RBI, on March 31, 2021, the NBFC sector (including HFCs) had assets worth more than INR 54 trillion, equivalent to about 25% of the asset size of the banking sector. Over the last five years, the NBFC sector assets have grown at a cumulative average growth rate of 17.91 percent. It was reported that, between FY’11 and FY’21, while the adjusted non-food bank credit growth decelerated by 2.15% on a CAGR basis, the flow from domestic sources, including, funding from NBFCs and HFCs grew by a CAGR of 8.27%. India has over 9650 NBFCs registered across 12 categories. Their importance in the financial services ecosystem for addressing the credit needs of a large segment of society is quite visible.

NBFCs have the advantage of specialized industry knowledge, a deeper understanding of customers, easier accessibility, lower transaction costs, and faster decision-making abilities. They have helped expand the financial inclusion initiatives across India.

For India to achieve its ambitious goal of becoming a USD 5 trillion economy by 2024, it needs to invest in core sectors such as infrastructure, healthcare, manufacturing, and technology innovation aggressively. To facilitate this growth, NBFCs can act as catalysts by extending faster, easier, and affordable credit access to individuals, proprietorships, and Medium & Small Enterprises (MSME), which have difficulty in getting loans from other channels. While NBFCs continue to do a brilliant job at increasing credit growth, the inherent risks in this segment need to be mitigated adequately.

As mentioned earlier, NBFCs are important drivers to the Indian lending economy, implying that they are the largest net borrowers of funds from the financial system with gross payables of INR 9.37 trillion as of September 2021. NBFCs are responsible for loan growth but are also burdened with excess loans because they carry risks such as excess leverage, the concentration of risks in one sector, focus on niche funding, and the burgeoning of bad loans. With a lot at stake, any wrong step can result in significant losses not only for that particular NBFC but also impact the entire connected ecosystem.

The pandemic-induced lockdowns and the gradual revert to normalcy in businesses had resulted in a sharp decline of inquiries from the consumer credit side of businesses. Home loans were revived with the support provided by the Government in the form of stamp duty reduction and supportive property prices. The RBI had also announced a moratorium on EMI/Interest payments for six months between March 2020 and August 2020. The banks had a mandate from the RBI to maintain a minimum cash reserves ratio (CRR) and a statutory liquidity ratio (SLR). However, the required broader level of support for the NBFCs was missing. NBFCs that followed strict corporate governance and maintained sufficient cash reserves and liquidity, survived the pandemic and other hardships. However, many NBFCs that were over-leveraged and did not maintain adequate liquidity are facing the stress of NPAs. NBFCs that benefitted from the regulatory arbitrage in the past and did not keep sufficient liquidity have become cash-flow negative with rising defaults in interest payments.

According to a report, gross NPAs of banks have swelled up to 7.48% and may rise to 9.8% by March 2022, the highest in the last five years. This data is also reflected in a report by The RBI which states that 11.29% to 19.5% of NBFCs may not be able to comply with a minimum regulatory capital requirement (CRAR) of 15% under stress tests. The collapse of India’s leading NBFC players - Infrastructure Leasing & Financial Services (IL&FS) and Dewan Housing Finance Corporation (DHFL) in 2018 and 2019, where exposure to riskier asset quality was a key factor, had led to ripple effects in the economy.

The Reserve Bank of India had introduced a Prompt Corrective Action Framework (PCA) for Scheduled Commercial Banks in 2002 to enable supervisory intervention at appropriate times and initiate and implement remedial measures promptly, to restore its financial health. The PCA Framework for NBFCs came into effect from October 1, 2022, based on the financial position of NBFCs on or after March 31, 2022. To ensure uniformity in income recognition, asset classification, and provisioning norms, all lending institutions have clarified a portion of the existing guidelines applicable across all lending institutions, including NBFCs. With all the additional regulatory guidelines, it is expected that Gross NPAs for NBFCs might increase by 300 basis points. However, while NPA’s would increase consequently, the provisions as a percentage of such NPAs is likely to reduce to some extent. This has reinforced the need to build in robust mechanisms to mitigate credit risk, use a more data-driven approach for identification of likely delinquencies earlier and strengthen the loan collections and debt recovery capabilities.

While regulations and operating guidelines are important, NBFCs also need to transform their operating processes and use the advancements in technology to their advantage across the credit lifecycle. With a huge amount of data available, NBFCs can benefit from the rich analytical insights to identify patterns during pre-delinquent stages, deploy highly mature risk assessment models, and incorporate data-driven decision-making as a part of their core processes. With the tremendous focus today on speeding debt recoveries, reducing collection costs, and minimizing NPAs, NBFCs need to shift away from the archaic manual effort-driven processes and embrace highly evolved debt recovery and collections technology platforms that do not only drive efficiencies but also bring down the overall cost. The poor customer experience on account of ill-conceived debt recovery approaches during the pandemic has received a lot of criticism. This has highlighted the need for implementing a well-designed framework to enhance customer experience while boosting debt recoveries.

Credgenics, the award-winning debt recovery, and loan collections platform provides lenders with sophisticated capabilities to streamline and automate their end-to-end loan collections capabilities. The AI-powered debt resolution platform enables lenders to ascertain the chances of recovery for each case with the cost, time, and effectiveness of various channels. Credgenics debt recovery platform also recommends the best collection strategies and helps lenders digitize their entire recovery process. Credgenics facilitates lenders to leverage a comprehensive multi-channel digital debt collections ecosystem including AI-enabled multi-lingual chatbots and humanoid voice bots. The leading SaaS collections platform is supporting more than 60 leading banks and NBFCs in improving their debt collections by 15-20%. With Credgenics, lenders can recover as much as 70-80% of bad debts at a rate that is 5X faster than traditional modes.

Contact Us:

B-902-909, 9th Floor, Tower - B, KLJ Noida One, Sector - 62, Noida - 201309

[email protected]

For booking a demo: +91-7827000458,

+91-80769 17245

#Debt Collection Services #Debt Management Software #Digital Loan Collections #Delinquency Management Software #Bad Debt Recovery Services #Fintech Debt Collection #Debt Solution Platform

0 notes

threadminute3 · 3 years

Text

Six Great things about Investing in Cryptocurrencies

The birth of bitcoin in '09 opened doors to investment opportunities in an entirely new kind of asset class - cryptocurrency. Lots entered the room way early. Intrigued from the immense potential of such fledgling but promising assets, they bought cryptos at cheap prices. Consequently, the bull run of 2017 saw them become millionaires/ billionaires. Even those that didn't stake much reaped decent profits. Three years later cryptocurrencies still remain profitable, as well as the market is here to stay. You may be an investor/trader or perhaps contemplating trying your luck. In the two cases, it makes sense to learn the benefits of dogecoin millionaire erfahrungen.

Cryptocurrency Has a Bright Future According to a report titled Imagine 2030, authored by Deutsche Bank, credit and debit cards will end up obsolete. Smartphones along with other electronic devices will replace them. Cryptocurrencies will not be seen as outcasts but choices to existing monetary systems. Their benefits, such as security, speed, minimal transaction fees, easy storage, and relevance inside the digital era, will be recognized. Concrete regulatory guidelines would popularize cryptocurrencies, and grow their adoption. The report forecasts that there will be 200 million cryptocurrency wallet users by 2030, and almost 350 million from the year 2035. Chance to be part of a Growing Community WazirX's #IndiaWantsCrypto campaign recently completed 600 days. It is a massive movement supporting the adoption of cryptocurrencies and blockchain in India. Also, the current Supreme Court judgment nullifying RBI's crypto banking ban from 2018 has instilled a new rush of confidence amongst Indian bitcoin and cryptocurrency investors. The 2020 Edelman Trust Barometer Report also points out peoples' rising faith in cryptocurrencies and blockchain technology. As per the findings, 73% of Indians trust cryptocurrencies and blockchain technology. 60% claim that the impact of cryptocurrency/blockchain will be positive. By being a cryptocurrency investor, you are in position to be a part of a thriving and rapidly growing community. Increased Profit Potential Diversification is an essential investment thumb rule. Especially, over these times when most of the assets have incurred heavy losses because of economic hardships spurred from the COVID-19 pandemic. While acquisition of bitcoin has given 26% returns from the starting of the season to date, gold has returned 16%. A number of other cryptocurrencies have registered three-digit ROI. Stock markets as we know have posted dismal performances. Crude oil prices notoriously crashed below 0 inside the month of April. Including bitcoin or other cryptocurrencies in your portfolio would protect your fund's value in these uncertain global market situations. This fact seemed to be impressed upon by billionaire macro hedge fund manager Paul Tudor Jones when a month back he announced intends to invest in Bitcoin. Cryptocurrency Markets Are On 24X7X365 Rather than usual markets, cryptocurrency markets operate round the clock, all days in a year without fatigue. Like digital currency systems are essentially designed using texts code that are secured by cryptography. The operational blueprint doesn't require human interference. So, you might be free to trade crypto or spend money on digital assets whenever you want to. That's a great benefit! Cryptocurrency financial markets are very efficient that way.

#dogecoin millionaire erfahrungen

1 note · View note

researchnesterinsights · 3 years

Text

Fluorescent Pigment Market Future Demand And Leading Players Updates By Forecast To 2028

Research Nester published a report titled “Fluorescent Pigment Market: Global Demand Analysis & Opportunity Outlook 2028″ which delivers detailed overview of the global fluorescent pigment market in terms of market segmentation by product type, application, state, and region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

There are various states of fluorescent pigment that are powder and aqueous dispersion. The fluorescent powder has a bright glow under the conventional lighting and ambient of UV in the daylight. The neon glow can be achieved by activating the powder fluorescent pigment by using the ultraviolet lamp. The fluorescent effect displayed by using the powder helps the item stand out using the standard color technology. The powder fluorescent pigment is mainly used as a color additive to manufacture inks, paints, and plastic molding via different polymers. The fluorescent pigment’s aqueous dispersion comprises a water-insoluble polymer, emulsifier, fluorescent dye, and water. The aqueous dispersion of the fluorescent pigment improves the color purity and the fluorescence, which is useful for graphic art applications such as gravure or flexographic printing inks, textile printing inks, paints, marker inks, and others. The global market accounted for USD 374.8 Million in 2020 and is estimated to grow at a CAGR of 4.9% during the forecast period, i.e., 2021-2028.

Download Sample of This Strategic Report: https://www.researchnester.com/sample-request-3147

The global fluorescent pigment market is segmented by application into currency, identification certificates, and banking bonds, legal documents, tax banderols and others. Among these segments, the currency segment in the global fluorescent pigment market is estimated to grow with the highest CAGR of around 4.1% and is estimated to be the leading revenue generating segment during the forecast period. Geographically, the global fluorescent pigment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, out of which, the market in North America held the leading market value of around USD 123.6 Million in 2020 and is further estimated to hold this position throughout the forecast period. The Asia Pacific region accounted for a significant share of the fluorescent pigment market for Security and Currency Applications due to the increasing frauds in identification certificates and banking bonds. In 2018, Chinese police seized a million fake identity documents after an investigation and this racket was operating across 20 provinces. The fake papers include various certificates ranging from residents’ identity cards to birth certificates, passports, English test certifications, and driving licenses. Owning to the above fraud, the Chinese government is trying to improve fluorescent pigment quality used in identification certificates. In India, the crimes related to fake currency are increasing, as out of the total fake Indian currency notes (FICNs) detected in the banking sector, 5.6% were detected at the RBI, and other banks detected 94.4%. To curb the rackets of fake currency and fake identification certificates, the governments in the region rely on fluorescent pigment, which will be considered a driving factor for the growth of the region’s fluorescent pigment market for security and currency applications.

Rising Demand for Fluorescent Pigment for Printing Currency

Countries ahead in technological advancements and have been using fluorescent pigments for a significant period. The crime related to forged documents is comparatively low in the region as the ink used in most identification documents is fluorescent, which is difficult to duplicate. In the past five years, many fake currency rackets have been busted in the region, leading to the overall robust growth of the region’s fluorescent pigments market during the forecasted period.

However, Presence of stringent regulatory norms across several nations for the marketing of these pigments is a key restraint to the growth of global fluorescent pigment market over the forecast period.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

Request Sample Copy of Strategic Report: https://www.researchnester.com/sample-request-3147

This report also provides the existing competitive scenario of some of the key players of the global fluorescent pigment market which includes company profiling of Radiant Color NV, Hangzhou Aibai Chemical Co. Ltd., Organic Dyes and Pigments LLC, Luminochem Ltd., Ukseung Chemical Co. Ltd, Aron Universal Limited, Vicome Corp., Huangshan Jiajia Fluorescent Material Co., Ltd., Wanlong Chemical Co., Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fluorescent pigment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

About Research Nester

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.

Contact for more Info:

AJ Daniel

Email: [email protected]

U.S. Phone: +1 646 586 9123

U.K. Phone: +44 203 608 5919

Research Nester

Research Nester is a one-stop service provider, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives to make wise decisions for their future investment and expansion by providing them qualitative market insights and strategies while avoiding future uncertainties. We believe in honesty and sheer hard work that we trust is reflected in our work ethics. Our vision is not just limited to gain the trust of our clients but also to be equally respected by our employees and being appreciated by the competitors.