FINACE - ACE THE WORLD OF FINANCE(APRIL EDITION)

HIGHLIGHTS

India’s first bullet train to be operational
in 2027

UPI Transactions Cross $1-Trillion Mark
In FY22, NPCI Data Shows

IIT Kharagpur launches its
supercomputer, names it PARAM
Shakti

Flipkart invests $116 million in fashion
retailer Myntra amid challenge from
Reliance, Nykaa

Microsoft plans ads in free-to-play Xbox
console games

‘SWIFT not irreplaceable, but IS PM MODI'S BULLET TRAIN PROJECT
substitution requires considerable
preparation: former PBC chief

US blames North Korean hackers

PRACTICAL?for$625millioncryptoheist

FOLLOW US : APRIL
/ finanza.dsc EDITION

/finanzadsc.com 2022

ISSUE • 29 APRIL 2022 • SUBSCRIBE

CONTENT 1 FROM OUR MENTOR'S DESK II
2 Meet the team
III
3 Corporate and startups
4 Financial entrepreneur 1
5 Personal finance
6 Financial facts you didn't N4
know
7 Fynamics 5

8 India 6

9 World 7D
10 Miscellaneous
11 Voice your opinion 10
12 Financial Metrics
13 Financial Aptitude E12
14 Lights camera and finance
13

14

X15

16

17

"When you INVEST , you are buying a "

day you don't have to work"

PRINCIPAL'S
CORNER

PROF.V.K.PALIWAL

Professor VK Paliwal, Ph.D., the esteemed principal of
our college, has been a valuable support for Finanza. He
is currently the officiating principal of Dyal Singh
College, University of Delhi . He has been a valuable
support for our society Finanza.

He was felicitated with the full bright Nehru Senior
Research Scholarship, USA in 2010-11. He has been
awarded the best Ph.D. thesis award in Material
Sciences-G. C. Jain Memorial Prize in 2005. He has
published numerous articles in national and
international journals and attended several
conferences as well.

Team Finanza is elated to work and learn under his
supervision and guidance. We sincerely thank Sir for
his unconditional support and guidance.

Team Finanza
Session 2021-22

I

FROM
OUR
MENTOR'S DESK
DR. RITA NAGPAL

( TIC , FINANZA )

Finanza, the finance society of With each new edition of
the newsletter, I hope
Dyal Singh College is a that our society creates
the best content for you
voluntary group of students to make it not only
informative but also
aiming to disseminate interesting and relatable.
Society promises to be
quintessential knowledge on unfettered in efforts to
make finance easy and
finance and related aspects simple for you. With the
hope that these pieces
through the conduct of its help you enhance your
knowledge, I wish that
activities throughout the year. you have a pleasant
reading experience.
Since its inception in 2015,

society has traversed a great

path to grow in size, scope and

shape to make it more engaging

for its members and

community. Members of

society have diversified

themselves in all manners. Be it

organising multifarious events

or hosting regular speaker

sessions with eminent

personalities, the society has

managed to build a reputation

of its own.

II

ANANYAA OBEROI PRESIDENT

2021 - 22 Finanza has always been a
bunch of enthusiastic
individuals who have
strived to impart
knowledge in the most
simple yet effective
manner. Our efforts are
aligned with our vision of
enhancing the financial
intelligence of the youth.
We strive to create an
environment where people
can grow and learn to lead
their lives as more socially
and financially responsible
individuals. Stay safe! Stay
informed!

VICE
APOORVA TYAGI PRESIDENT

III

ANURAG VANSHIT
TEWARI TYAGI

(SECRETARY) (CHIEF COORDINATOR)

MEET THE TEAM DEBROTO TEESHA TANVI PURVA DUDHANI
MANDAL ARORA MADHAW
(PROJECT
(PROJECT LEADER) (HEAD OF OPERATIONS) (EDITOR-IN-CHIEF) COORDINATOR)

MANYA JUNEJA YASH ANANAYA ANJALI VARUN
KULSHRESTHA KHARBANDA JAIN SONI
(PROJECT SUPERVISOR)
(PROJECT SUPERVISOR) (PROJECT SUPERVISOR) (PROJECT SUPERVISOR) (PROJECT SUPERVISOR)




RESEARCH & CORPORATE VIHANA MRIDUL SHREY
RELATIONS BHARGAVA GARG GOYAL

KANISHKA
PANDEY

LEEPAKSHI NIHARIKA ISHIKA YASH
KHANNA PAHWA RASTOGI SETHI

EDITORIAL TEAM SHREYANSH SHRISTY
ARYA PRIYA
KHUSHI
KANDWAL HARSH
GARG
GRAPHIC TEAM

TARANG
CHAUDHARY

SARANSH
TIWARI

IV

CORPORATE

&STARTUPS
Reliance sets up free EV charging infra for employees in the Mumbai campus

Reliance Industries Ltd has set up an electric vehicle (EV) charging infrastructure at its Mumbai campus to
allow employees to charge their EVs free of cost. The company's HR sent mailers to employees informing
them about the Jio-bp pulse EV charging zone at its Navi Mumbai campus, Reliance Corporate Park (RCP).
The charging station set up by Jio-bp - the company's fuel retailing joint venture with British energy giant
bp- is in line with the firm's promise to achieve net carbon neutrality. The Jio-bp pulse zone at RCP
presently includes six chargers of different configurations to cater to both electric two-wheelers and four-
wheelers. Reliance employees need to register through the Jio-bp pulse Charge mobile app and scan the

QR code on the charging unit to start the EV charging session.READ MORE

Flipkart invests $116 million in fashion retailer Myntra amid challenge from
Reliance, Nykaa

After investing close to $700 million in Flipkart’s marketplace and its new healthcare vertical, the Indian
e-commerce company’s Singapore-based parent entity has invested $116 million in its online fashion
retail arm Myntra. The investment was made on March 25, according to Flipkart’s regulatory filings in
Singapore. The new investment comes as Myntra is facing new challenges, with Reliance's Ajio emerging
as a significant second player in the online fashion market. Beauty retailer Nykaa is also venturing into
fashion, which Myntra has dominated for over a decade.
While Nykaa dominates the beauty and personal care industry, several companies, including India’s
biggest conglomerates – Reliance Industries and Tata Group – are looking at building their own beauty
and personal care platforms. Myntra CEO Nandita Sinha told that the company would focus on building

live commerce and entering the beauty category soon. READ MORE

WhatsApp can offer UPI services to 100 million users!

The National Payments Corporation of India (NPCI) has allowed WhatsApp to increase its user limit for
digital payments through UPI to 100 million, a 2½ times jump from the earlier cap of 40 million.
WhatsApp had sought permission for UPI payments for all its users in India in one go without any cap.
However, the NPCI has granted it an increased limit of 100 million, said the people.
The increase in WhatsApp Pay's user base is likely to disrupt the current market leadership of leading UPI
apps such as PhonePe and Google Pay as WhatsApp has the best chance to shake the market given its

large user base of at least 400 million monthly active users for its messaging service. READ MORE

Swiggy and Zomato, food delivery rivals in India, back UrbanPiper in $24
million funding

UrbanPiper, a restaurant management platform that processes 18% of all online food orders in India, has
raised $24 million in a new financing round from a number of investors including Swiggy and Zomato. The
6-year-old startup’s Series B funding was led by existing investors Sequoia Capital India and Tiger Global.
Pankaj Chaddah, a founder of Zomato, Ankit Nagori of Curefoods and Khadim Batti and Vara Kumar are
among some angels who have also invested in the new round.
The startup processes 14 million orders a month, up from the 2 million it processed in 2019 when it raised
$7.5 million in Series A funding. The startup, which manages more than 27,000 restaurant locations
across eight countries, plans to deploy the fresh funds to launch in more regions across India, MENA, and

the EU and aims to onboard over 200,000 restaurant locations in the next two years. READ MORE

Rapido raises $180 million in Series D round led by Swiggy

Bike taxi startup Rapido has raised $180 million in a Series D round led by foodtech major Swiggy and
joined by TVS Motor Company and existing investors Westbridge, Shell Ventures, and Nexus Ventures.
The financing values the company at $830 million. To date, Rapido has raised a total of over $310 million.
This round comes at a time when Swiggy’s rival Zomato has announced a 10-minute food delivery.
Commenting on the funding, Rapido said: “Swiggy’s participation in this round will build on the synergies
between the two companies. With a common mission to deliver superior customer experience through
higher fleet availability, it will also provide additional earnings for both Swiggy’s delivery executives and
Rapido’s captains.” With the funds, Rapido plans to enhance its technology, amplify and strengthen its
teams across diverse sets of capabilities, and increase overall supply in metros and Tier 1, 2, and 3 cities.

READ MORE

1

CORPORATE

&STARTUPS
Haldiram To Launch IPO Within Next Two Or Three Years

Haldiram, a popular snack brand, will now launch an IPO as confirmed by Manohar Lal Agarwal, the chairman
of the company who also discussed the company’s expansion plans, price hike, and a potential entry into
Dalal Street. The company is expected to enter public markets soon and the IPO will probably be launched in
the next two or three years. Haldiram is an 80-year-old snack brand that started off as a small shop in
Bikaner and went on to become a $1 billion company. While talking about the IPO Agarwal said, “Due to
soaring inflation, almost everything is costlier – from transportation and fuel to raw materials. The cost of

edible oil is almost double now, but we have managed to hike prices only by 10-20%.”READ MORE

Google Pay may soon be a complete digital wallet

As spotted, Google appears to be testing a new wallet icon, indicating the dawn of a new era for Google Pay
in which the service is transformed from a payment option to a complete digital wallet. In contrast to the logo
that GPay –the better region-locked version of Google Pay– currently uses, the new wallet icon clearly shows
a range of colored cards within a blue holster, indicating its usage as more than just a payment solution and a
place to put your solitary bank card.
This new wallet logo that has been spotted corroborates a recent Bloomberg report that suggests Google is
looking to transform Google Pay into a “comprehensive digital wallet” that allows you to manage digital
tickets, airline passes, and vaccine passports, as well as all your usual banking gubbins, all from one app.

READ MORE

Campus shoes IPO expected to HDFC Bank to raise Rs 50,000 UPI Transactions Cross $1-
crore via bonds; re-appoints Trillion Mark In FY22, NPCI
hit in May, company to expand Renu Karnad as director Data Shows

distribution footprint HDFC Bank announced it will raise up to Rs Transactions worth $1.09 trillion, or ₹83.45 lakh
50,000 crore in the next year by issuing bonds crore, were recorded on the UPI as of March 29,
Sports and athleisure footwear company aimed at financing infrastructure and affordable according to data released by the National
Campus Activewear plans to expand its housing loan requirements of the customers. The Payments Corporation of India. That compares
distribution network and deepen its footprints board has approved the issuance of perpetual with ₹41 lakh crore recorded in FY21. In March
in western and southern regions. According to debt instruments (part of additional tier I capital), alone, UPI recorded more than 500 transactions.
market sources, the company is planning to get tier II capital bonds, and long-term bonds The UPI has been one of the most preferred
listed on stock exchanges in May 2022. (financing of infrastructure and affordable mobile payment modes in India since its launch
Campus Activewear, backed by equity fund housing) up to a total amount of Rs 50,000 crore, in 2016. RBI Governor Shaktikanta Das, at the
TPG Growth and QRG Enterprises, also plans to it said in a regulatory filing. launch of UPI123 this month, had said UPI could
expand its offering in the high-margin women soon record ₹100 lakh crore worth of
and kids portfolio, CFO Raman Chawla said. As It also informed that the board has approved to transactions.
part of that, Campus will strengthen its re-appoint Renu Karnad as a non-executive
network of EBO and enhance its omnichannel director on the board of the bank for a period of According to NPCI’s assessment, about 50% of
presence and online sales. five years with effect from September 3, 2022.
With an installed capacity to manufacture 25.6 Her appointment is subject to the approval of the the transactions recorded on UPI are worth less
million pairs annually, it has achieved sales of shareholders at the ensuing annual general
around ₹1,000 crores from April-December meeting of the bank. Karnad’s re-appointment is than ₹200 each. High volumes of low-value
2021 and claims a market share of 17% in as a nominee director of HDFC Ltd, promoter of
branded sports and athleisure footwear the bank. She is the Managing Director of HDFC transactions have led to a rise in failure rates as
industry in India by value for FY21. The
company filed a DRHP last year and has Ltd since 2010.READ MORE the fclouwrreandteqinufartaesltyr.uRctEurAe Dis MunaObRle Eto support
proposed an OFS of 5.1 crore equity shares by the
promoters and existing shareholders in the

IPO.READ MORE

2

CORPORATE

&STARTUPS

Apple’s AirDrop is getting a new competitor — Google Nearby Share

With the latest beta update, Google’s Pixels are getting back an easy and accessible share option —
Nearby Share. It is very much similar to Apple’s AirDrop. The Nearby Share feature will allow you to
transfer files among the devices logged in. It works just like Apple’s AirDrop ecosystem.
This option will let you effortlessly share files between devices that are signed in to the same Google
account, without needing to approve the share first. Still, you will see the approval screen when receiving
files from someone else’s device. This feature is present in the latest version of Google Play Service but is
still unavailable to users. Currently while sharing the files between your devices you have to approve the
share on the recipient device. This step is becoming a hurdle in the entire file sharing process making it

complicated.READ MORE

Adani Green Become 7th Most Valued Firm At Dalal Street, Outruns SBI

Overtaking India’s largest lender SBI, Adani Green emerged as the 7th most valued firm on Dalal Street. Adani
Group’s renewable energy company outperformed benchmarks indices along with its counterparts on a day
when there the markets witnessed a bloodbath with Sensex even erasing 57,000 and Nifty 50 struggling to
retain the 17,100-mark.
Adani Green’s closed at ₹2968.10 per share, up by ₹103.35 or 3.61% on BSE. The company’s shares also
hit a new historic high of ₹3013.20 apiece. At the closing price, Adani Green’s market cap was at
₹4,64,215.08 crore, taking the company to the 7th spot on the list of the top 10 most valued companies

on BSE. READ MORE

Telcos flay plan for private 5G networks

Spectrum users have started squabbling over the telecom regulator’s recommendation to earmark
certain bands for captive wireless private networks. The cellular operators under the COAI have opposed
regulator suggestions of allowing enterprises to build their own private 5G networks for captive
purposes. BIF, the industry body of tech players such as Facebook and Google welcomed the
recommendations to allow private networks.
Technology players such as Facebook, Google, ISpA want the 28.5GHz band spectrum to be reserved
and allocated exclusively for satellite communications services. The COAI said, “by allowing private
captive networks for enterprises, telecom regulator Trai is dramatically altering the industry dynamics
and hurting the financial health of the industry rather than improving it”. The IsPA said “we welcome
Trai’s recommendation that calls for the coexistence of satellite communications and IMT in the 27.5-
28.5GHz band. We also appreciate recommending an exclusion zone for satellite earth stations in the

27.5-28.5GHz band.”READ MORE

Bounce crossed 50,000 bookings; delivery started on April 18

Bounce Infinity begins the rollout of its first e-scooter. They crossed 50,000 bookings even before it was
launched. The EV is priced competitively at around Rs. 70,000 after subsidies. Bounce has been working
with these batteries since 2019 as a ride-sharing service. They used to buy electric scooters from others
while utilizing their own battery and infrastructure. These batteries on their new EV scooters use similar
technology. When asked about the safety of their scooter. The company claims to have had battery-
swapping expertise since 2019. The battery used in Bounce Infinity is lithium-ion and NMC chemistry and
it packs 2 kWh of energy. The e-scooters also boast of fast charging while providing users the option to

swap batteries. READ MORE

Tata Consumer Products to merge Tata Coffee business with itself

Tata Consumer Products (TCPL) has announced the merger of all businesses of Tata Coffee with itself as
part of a reorganization plan in line with its strategic priority of unlocking synergies and efficiencies. While
the plantation business of Tata Coffee Ltd (TCL) will be demerged into TCPL's wholly-owned arm TCPL
Beverages & Foods Ltd (TBFL), the remaining business of TCL, consisting of its extraction and branded
coffee business, will be merged with TCPL, the company said in a statement. The demerger to happen as
the first step and the merger to happen as the immediate second step, both being proposed through a
composite scheme of arrangement.
Under the scheme, shareholders of TCL (other than TCPL) will receive an aggregate of 3 equity shares of
TCPL for every 10 equity shares held by them in TCL. For the merger, 14 equity shares of TCPL will be

issued for every 55 equity shares of TCL, it added. READ MORE

3

FINANCIAL
ENTREPRENEUR

President in over INR 10000 Crores Super Brand for and
among the fastest-growing Indian MNC (Havells) - Mr. Anil
Bhasin- has served in the FMEG sector of the Indian
economy for the past 38 years ardently.

Joined Havells in 2004, since then setting one goal and
achieving it relentlessly and moving on to another has been
more of a daily habit, than a ritual for him. His journey could
truly be realized by understanding the different shades and
hues of marketing and the art of a motivational speaker
blended with a perfect PR. He is profoundly convinced that-
“Gaining trust in the market should be our priority” and
hence, he feels his journey has been achieved only with the
strength of building a team, trusting and believing in them.
He has conducted live Key Note Addresses, Webinars and
Guest Lectures on topics like Handling Challenging Times,
Communication Skills, etc. in 50+ top B-Schools. Being a
potent motivational speaker, he understands that positivity
gives the power to swim upstream and to rewrite one’s own
scripts.

TIMELINE

1977- Completed his schooling from Kendriya Vidyalaya

1980- Did his bachelor of science from MDUR, Haryana

1987- Completed his Masters in Public Administration from the University
of Rajasthan
1988- Post graduation in Sales and Marketing from YMCA

1982-2000- Assistant General Manager of Bajaj Electricals Ltd.

2000-04- General Manager of Singer India Ltd.

2004-20- Served as Havells’s President

2017-18 Best ICT Implementer in Smart City Ludhiana (Havells)
for 2 consecutive years

4

PERSONAL
FINANCE

Forgot to Invest in Your CHECK OUT THESE YOUTUBE VIDEOS ABOUT
DELHI UNIVERSITY TO STAY UPDATED !
PPF A/c Before April 5?
Gaurav Doraha is a Youtuber with a following of
Here’s What You Should over 21k and growing or more 2.5 million Views.
He makes educational content with Primary focus
Do Now: being Delhi University. From Admissions,
Examinations to Fests , everything is covered on
If you have a PPF scheme account, it's important to know that one earns the channel.
interest for a full financial year only on the amount deposited in the Apart from YouTube , Gaurav is also the founder
account by April 5. According to scheme rules, interest on PPF deposit is of Apnaalaya which helps in providing affordable
calculated on the minimum balance between the 5th and the end of every Flats and PGs to Delhi University Students.
month. Thus, if the lumpsum investment is made on or before April 5 (but Gaurav is also taking us by surprise with his new
on or after April 1), then this deposit will be considered to calculate interest startup of Customized Clothing ," UTees " where
due for that month i.e., for April and the rest of the financial year. you can get T-Shirts , Hoodies , Polos customized.

But in case you have forgotten to make the lumpsum deposit before April
5, then you must do it as soon as possible - at least before the 5th of the
next month. This is because once the deposit is made, then you will lose
interest only for the month of April. The deposit made will fetch interest
for the balance months of the financial year.

Here is an example to understand how much interest amount you will lose
if you don't deposit the maximum amount allowed as lumpsum between
April 1 to 5 and instead deposit it in the last month of the financial year i.e.
in March.

Suppose you invest Rs 1.5 lakh in your PPF account on April 20. You will
earn the current PPF interest of 7.1% throughout the year. As you have
missed the date of April 5, the deposit made will fetch the interest for 11
months. In this case, interest earned will be Rs 9,762.50 for the FY 2022-
23. For the month of April, you will not earn interest as you have missed the
date of April 5. Now, suppose you make this investment on March 1, 2023.
In such a scenario, the deposit of Rs 1.5 lakh made for FY 2022-23 will earn
interest for only one month, which will be Rs 887.50.

Remember PPF account comes with a lock-in period of 15 years. Due to
compounding over the long term, you may end up losing much more
money. Assuming the interest rate of 7.1% throughout the lock-in period of
15 years, an individual depositing Rs 1.5 lakh every year in the PPF account
on April 1 every year will earn Rs 40,68,208. On the other hand, an
individual making a deposit in a PPF account on March 31 every year will
earn Rs 37,98,515.

Thus, by not depositing at the start of the year, an individual loses the
interest of Rs 2,69,693.

5

1. 97.75% was the highest FINANCIAL 4.Rs 5,000 and Rs 10,000
income tax slab! FACTS currencies existed in the
YOU country
In 1970-71, income tax was spread DIDN'T
over 11 slabs with the highest KNOW RBI demonetized notes in the
bracket attracting 85% tax. denominations of Rs 5,000 and Rs
Combined with a surcharge of 15%, 10,000 in 1938. They were
the marginal rate of income tax reintroduced in 1954 and again
reached 97.75%! Over the past fifty demonetized in 1978. RBI is at
years, the tax slabs have reduced to liberty to print these notes
3 with the maximum bracket according to the RBI Act of 1934.
attracting 30% tax.
5. Apple's market cap is higher
2. RBI logo was inspired by than entire BSE 500 companies
East India Company's gold coin
Apple Inc's market cap was more
The Reserve Bank of India, which than ₹164 lakh crores in 2020. This
was established on April 1, 1935, is more than the combined market
during the British Rule, modeled its cap of BSE 500 companies and
official emblem after the double twice as big as that of the 30 share
mohur of The East India Company. index. Since 24 August 2019, Apple
The logo originally featured a sketch shares have more than doubled in
of the Lion and Palm Tree but it was value from $212 to more than $500.
later decided to replace the lion with
a tiger to represent India better. 6.India was the first country to
refine and consume sugar
3.India was the first country to
mine diamonds If you have a sweet tooth, you have
India to thank. India was the first
From the 4th century BC for around place where sugar was extracted,
1,000 years, India was the only refined, and used in cooking –
source of diamonds globally. The although once people got a taste of
original diamonds were found in the the delicious stuff, sugar production
Krishna River Delta. quickly spread around the world.
In the 18th century, more diamond
deposits were discovered in Brazil, 7.Shampoo originated in India
and soon after, in South Africa,
adding to the market of diamonds. The word “shampoo” comes from
the Sanskrit word “champu,” which
means “to massage.” Ground herbs
mixed with water were the very first
forms of shampoo. Not until later,
when the idea caught on were
commercial bottles produced.

6

FYNAMICS

Bringing to you, Fynamics: The annual fest of Finanza! Apart from the stock market, it is the
hottest place for finance enthusiasts like us!

Speaker Session

Difficult times are going to come and go, what matters is how you deal with
them. One man’s challenge is another man’s opportunity. And this is why we
bring to you “Managing difficult times" by Mr. Anil Bhasin.
Mr. Anil joined Havells in 2004 and has served as President of an Indian
multinational corporation (Havells). For the past 38 years, he has worked in
the FMEG sector of the Indian economy and has delivered live Webinars and
Guest Lectures in 50+ top B-Schools.
So let’s come and find out how we can deal with difficult times and turn them
into opportunities.

‘Hit wicket’

Are you a cricket fan who annoys the hell out of others who simply
don’t get the brilliance of this game? Well, we got your back!
HITWICKET- A classic IPL auction, with little twists and turns, a fun
event like none other, awaits your participation. Let’s put your skills
to the test!
Do you have what it takes to build the dream team or are you better
off watching the games from the sidelines?

‘Interrobid’

Remember watching fast-paced auctions in movies and experiencing the
second-hand thrill of bidding? Well, wait no more!
Do you have it in you to place the right bids or are you gonna let your emotions
take over your strategy? Here, one second could mean the difference between
winning or losing. Are you ready for it?

'Chase Through The Maze'

An amusing search for the treasure, with clues and traces on your
path only to reach the destination of gold. Put on your thinking caps
and bring out the Sherlock inside you to take the gold home before
others!
So can you avoid the traps and go home with the treasure, or will
you be left behind with nothing?

7

FYNAMICS

8

FYNAMICS

9

INDIA

Paytm turns a new leaf, becomes official digital payments partner for

PM's museum
Earlier, PM Narendra Modi had inaugurated the 'Pradhanmantri Sangrahalaya' in Delhi. The PMO said the

museum has been guided by Modi's vision to honor the contribution of all the prime ministers of India towards

nation-building and is a tribute to every prime minister of the country since Independence, irrespective of their

ideology or tenure in office. Now it has been declared that Paytm has become an official digital payments

partner for that museum as during the event, the PM also bought the first ticket to the museum through

Paytm electronic data capture machine. Thus, Paytm will be offering its payment gateway, EDC (Electronic

Data Capture) mthaecmhiunseesu, man.Rd QERAcDodMe pOayRmEent options to make way for superfast, convenient, and secure
transactions in

India and Bhutan in talks for India’s first India’s first bullet train will be operational in 2027 and trials will begin in 2026
Waterways Cooperation according to National High-Speed Rail Corridor (NHSRCL) chairman and MD Satish
bullet train to be Agnihotri. He also added that the country’s first bullet train station in Surat will be
The Union Minister of Ports, Shipping, and operational in inaugurated by 2023. The distance between the Surat-Bilimora station route will be
Waterways Sarbananda Sonowal held a one-

on-one dialogue on April 11, with a team from 2027 50km and the bullet train is going to run at a whopping speed of 320 km/h. The entire
Bhutan led by Bhutan's Economic Affairs route of the Ahmedabad- Mumbai bullet train will have 12 stations- eight in Gujarat

Minister on the sidelines of the Waterways and four in Maharashtra. However whether the train route can be completed is still to

Conclave in Assam's Dibrugarh. The be seen as the project, has been facing issues in land acquisition in Maharashtra.

dialogues involved ways to harness the NHSRCL officials said that the civil work is being done at an escalated speed and four

potential of waterways for the progress of (Vapi, Bilimora, Surat, Bharuch) of the total 12 stations will be ready by December

Bhutan and India. According to the Union 2024. The project, however, has been facing issues due to issues in land acquisition in

Minister, NW 2 (Brahmaputra river) Maharashtra. The total length of this route is 508.17km and the maximum operational
speed of the bullet train is 320 kmph. READ MORE
connectivity can be leveraged by both

countries for improved economic ties. He PM Modi in Gujarat, to launch a project

further added that India's advantage in

providing infra support and low-cost logistics worth over ₹20,000 crore
can bring a new era of development for the
PM Narendra Modi went on a three-day visit to Gujarat where he announced an
neighboring country.READ MORE
electric locomotive manufacturing plant with an investment of Rs 20,000 crore. This
IIT Kharagpur launches its new plant would be set up in the tribal-dominated Dahod district of Gujarat. Also, he
supercomputer, names it laid the foundation stone for the new WHO Global Centre for Traditional Medicine in

PARAM Shakti Jamnagar.
This new center aims to channel the potential of traditional medicine, by integrating it
IIT Kharagpur has launched a supercomputer

named 'PARAM Shakti' which has a total peak with technological advancements and evidence-based research. The PM also

performance of 1.6 petaflops. The launch was launched projects related to water supply, various components under the Smart City

inaugurated by West Bengal governor initiative, affordable housing, Anganwadis, and power sub-stations, among others and
Jagdeep Dhankhar. PARAM Shakti was
the aim was to generate employment for the tribal youths.READ MORE

developed under the National Tamil Nadu to get a new airport, says the Industries
Supercomputing Mission, a joint initiative of Minister
the Ministry of Electronics and Information

Technology and the Department of Science The Tamil Nadu government has planned to develop a new airport in the industrial belt

and Technology with the primary aim of of Hosur and a study on air traffic and other aspects has been ordered. The Tamil Nadu

accelerating research and development Industrial Development Corporation Ltd (TIDCO) will establish an Aero Hub within the

activities in multidisciplinary domains of Aerospace Park in Sriperumbudur and this project will be implemented in two phases.

computational and data sciences. Earlier, the Phase-1 will be implemented in Chennai with a built-up space of 3.5 lakh sq. ft. at a cost

NSM has seen the 1.6 petaflops Param Ganga of Rs 230 crore and will be completed by February 2023. Also, a fintech city is also in

installed at the IIT Roorkee and the 3.3 the plan which is going be to built by TIDCO on around 122.69 acres of land in

patetthafeloIIpSscPBaarnagmalPorrea.vRegEaAfrDomMAtOosRinEstalled Nandambakka in order to make Chennai a global financial center.READ MORE

10

INDIA

Services exports to Australia likely to reach $5 bn by 2027: SEPC

Services exports to Australia are expected to more than double to USD 5 billion in the next five years on the back
of the trade pact signed between the two nations, the Services Exports Promotion Council (SEPC). SEPC
Chairman Sunil H Talati said that sectors that will be benefited immensely from the pact include
telecommunications, computers, information, travel, research and development, and professional and
management consulting services.
On April 2, India and Australia inked an economic cooperation and trade agreement (ECTA) to boost economic
ties. The council will be the nodal organization for creating and promoting business opportunities for India's
services sector in Australia in the given framework of the pact. Commerce and Industry Minister Piyush Goyal led

one of the largest trade delegations to Australia shortly after the signing of the pact. READ MORE

GST Council may do away with 5% rate; move items to 3% & 8% slabs

The GST Council at its meeting next month is likely to consider a proposal to do away with the 5 percent slab by
moving some goods of mass consumption to 3 percent and the remaining to 8 percent categories, sources said.
Discussions are on to raise the 5 percent slab to either 7 or 8 or 9 percent, a final call will be taken by the GST
Council which comprises finance ministers of both Centre and states. As per calculations, every 1 percent increase
in the 5 percent slab, which mainly includes packaged food items, would roughly yield additional revenue of Rs
50,000 crore annually. Although various options are under consideration, the Council is likely to settle for an 8

percent GST (Goods and Services Tax) for most items that currently attract a 5 percent levy. READ MORE

Crypto payments are Piyush Goyal asks the plastics industry to cut imports, become self-

frozen across India, hitting reliant

trading Union minister Piyush Goyal exhorted the plastics industry to reduce import dependence and aspire to
become a USD 100 billion industry in the next 4-5 years. The minister noted that there is a significant
On April 7, Surojit Chatterjee, CPO of growth potential for the Indian plastic industry to become the world’s premium supply hub. “The plastic
Coinbase, announced crypto investors would industry needs to reduce the volume of imports and become self-reliant. The volume of imports of USD 17
now be able to use the country’s online retail billion shows that there is a clear market waiting for us to capture.”
payments system to transfer funds to its The Union minister also urged the stakeholders of the Indian plastics industry to upgrade technology,
local exchange. Hours after Chatterjee’s equipment, and capacities to manufacture world-class, quality products and grab to become the prime
announcement, the central bank-backed player. Lauding the plastic industry for achieving exports of USD 13 billion in 2021-22, a growth of 30
entity that runs the system, UPI, said it was percent, the minister said the plastics industry has done well on the exports and domestic fronts and can
“not aware” of any crypto exchange using
the network. Within three days of the event, easily reach its export target of USD 25 billion it has set for 2025.READ MORE
Coinbase had halted rupee transfers to its
trading app via UPI. The abrupt reversal left India is now a $3.1 trillion economy
Coinbase customers without any way of
funding their accounts with rupees, dealing a India’s economy is forecasted to grow by 9.2% in the current fiscal year helped by a robust farm sector
blow to its expansion plans in India. Coinbase and strengthening recovery in the manufacturing, construction, and service sector If the 9.2% growth is
wasn’t the only one affected. Since its realized, it would be the fastest growth since 1988–89 when the economy expanded by 9.6%. Under the
announcement, at least four other new methodology, data for which is available for 17 years, would be the fastest expansion. The nominal
companies that provide crypto-related GDP including inflation is estimated at 17.6%. The size of the economy based on current prices in dollar
trading services have either suspended terms is estimated to be $3.1 trillion
rupee deposits or seen banks and payment According to the World Bank, India’s GDP in the current dollar terms has risen to $2.9 trillion in 2019
gateways pull support for money transfers before falling to $2.7 trillion in 2020 due to the Covid impact. The National Statistics Office's (NSO) GDP
onto their platforms, according to estimates are marginally lower than the RBI which had predicted the economy to grow by 9.5%.
executives at the firms and local media
READ MORE
reports. READ MORE

11

WORLD

SWIFT substitution possible with early
IMF chief praises India's help to Sri Lanka
prep, says former PBC chief
Sri Lanka is facing its worst economic crisis since independence with food and
Society for Worldwide Interbank Financial fuel shortages, soaring prices, and power cuts affecting a large number of the
Telecommunications (SWIFT) is an international people, resulting in massive protests over the government's handling of the
financial transaction system that involves a situation. To handle this situation India extended a helping hand to Sri Lanka
messaging platform that further handles a lot of and even the IMF Chief, Kristalina Georgieva appreciated this. Ms. Georgieva
communications prior to payments being executed. made these remarks during the Spring Meetings of IMF-World Bank (WB) in
Till now it has seemed to be irreplaceable, given Washington DC with Ms. Sitharaman. Ms Sitharaman and Ms Georgieva.Ms.
SWIFT's efficiency and scope. But now according to Georgieva also congratulated India on its successful vaccination program to
the former PBC (People's Bank of China) chief's
comments, it can be replaced with a great deal of cCoOnVtrIDol-1t9heresliperfesaudppoofrtCtOoVoItDh-e1r9v.uAlnlesora, bslheecoaupnptrreiecsia. tRedEAIndDia MforOeRxtEending
former preparation. Since weaponizing SWIFT could
block capital flows of various countries, seeking an UK PM visits UK Prime Minister Boris Johnson made a long-
alternative option is reasonable, which would also India in a bid to delayed trip to India in a bid to strengthen security
promote a fairer usage of SWIFT in the future. boost defense ties with the country. He met his Indian counterpart
As an important platform of the global financial ties Narendra Modi in New Delhi on 22 April, with the
system, SWIFT needs to be maintained by all parties talks focused on defense and trade. They both
so that it can be appropriately served free and fair vowed to seal an ambitious free trade agreement
trade. Its advantages cannot be used to crack down by the end of the year. Mr. Johnson also said that
on certain economies or undermine the global the U.K. is creating an Open General Export Licence
trading system. However, the US clearly has used it (OGEL) for India to “reduce bureaucracy and
as a sanctions tool against economies that have slashing delivery times” for defense procurement.
different values or different views on global The British Prime Minister also said that both sides
governance, such as Russia and Iran. Since agreed to work together to meet new threats
weaponizing SWIFT could block capital flows of across land, sea, air space and cyber domains and
various countries, seeking an alternative option is the U.K. will partner with India on new fighter jet
reasonable, which would also promote a fairer usage technology as well as in the maritime sphere to

of SWIFT in the future. READ MORE detect and respond to threats.READ MORE

Russia runs shorts of US blames North Korean
medicines, seeks India's hackers for $625 million
help crypto heist

As a result of the West's punishing sanctions due to the Ukraine war, The US has blamed the North Korean hacker group, Lazarus, for stealing $625
pharmacies in Russia are running out of crucial medicines. According to a millions in cryptocurrency from the Ronin Network, owned by developer group
survey, Russian doctors are facing a shortage of more than 80 medicines Sky Mavis. The FBI has also attributed the Lazarus Group to the Ronin security
and this is not the worst part. The shortage in supply also has raised prices breach as the US Treasury Department updated sanctions to include the wallet
by a whopping 20% as consumers hurry to stock up on supplies that are address that received the funds and attributed it to the Lazarus group. Ronin is
running out. As a result, Russia is now looking to India for more medical a Blockchain platform behind the popular non-fungible token (NFT) game Axie
equipment at this crucial time. India is now a minor player in the Russian Infinity.
market, but with these new medicine shortages it can
double its exports this year to 2 billion rupees. In one of the largest decentralized finance (Defi) breaches yet, the hackers
stole cryptocurrencies worth $625 million from Ronin in March. The Blockchain
The country’s drug exports promotion body received a communication platform and Axie Infinity operator Sky Mavis admitted the security breach,
from the embassy seeking supplies from Indian firms for essential saying that 173,600 Ethereum and 25.5M USDC (a cryptocurrency pegged to
the US dollar) were drained from the Ronin bridge in two transactions.
medicines and medical equipment. READ MORE
READ MORE

12

MISCELLANEOUS

Indian Crypto Exchanges Disable UPI, Other Payment Options!

Options to deposit Indian rupees at cryptocurrency exchanges are dwindling. A growing number of cryptocurrency
exchanges have disabled INR deposits using the UPI system, which is the most widely used retail payment method.
Crypto exchange Wazirx is not offering UPI support. The exchange “Currently, UPI is not available.” Coindcx is also not
supporting payments by UPI, saying on Twitter, “UPI is temporarily unavailable.” Coinswitch Kuber went even further and
reportedly suspended all INR deposit services including UPI and bank transfers via NEFT, RTGS, and IMPS. The Nasdaq-
listed crypto exchange Coinbase, which recently launched in India, has disabled crypto purchases “due to an ongoing issue
we’re experiencing with the UPI system.”
Cryptocurrency exchanges stopped supporting UPI payments after the NPCI issued a statement that it is not aware of
crypto exchanges using the UPI system. The NPCI statement followed Coinbase launching in India and advertising that

users could easily deposit funds using UPI to buy cryptocurrencies. READ MORE

Ukraine's richest man vows to rebuild besieged Mariupol

Ukraine's richest man has pledged to help rebuild the besieged city of Mariupol, a place close to his heart where he owns
two vast steelworks that he says will once again compete globally. Rinat Akhmetov has seen his business empire
shattered by eight years of fighting in Ukraine's east but remains defiant, sure that what he calls "our brave soldiers" will
defend the Sea of Azov city reduced to a wasteland by seven weeks of bombardment.
His Metinvest company, Ukraine's biggest steelmaker, has announced it cannot deliver its supply contracts and while his
financial and industrial SCM Group is servicing its debt obligations, his private power producer DTEK "has optimised
payment of its debts" in an agreement with creditors. Metinvest said it would never operate under Russian occupation and

that the Mariupol siege had disabled more than a third of Ukraine's metallurgy production capacity. READ MORE

Why the Sri Lanka crisis could be a boon for Kerala tourism?

The economic crisis in Sri Lanka is a cause of concern in India, with the anticipated arrival of many Lankans trying to
escape the hardships of their island nation. For Kerala, though, it presents an opportunity. The pandemic-battered tourism
sector in ‘god’s own country’ is eyeing better days by wooing international tourists to the state’s picturesque locales.
After its 2½ decades-long civil war came to an end in 2009, Sri Lanka, with its clean beaches and good infrastructure,
emerged as an attractive tourist destination, giving stiff competition to Kerala. As one of Asia’s travel hotspots, Lanka, by
one estimate, received over 2 million international tourists in 2017-2018. However, tourist arrivals fell drastically after the
onset of Covid, just like anywhere in the world. Now, the crippling economic situation has done international tourism in
Lanka more damage, offering Kerala a chance to be the alternative—as a ‘safe and exotic destination’.ate in the near

future.” READ MORE

NFT of Twitter head's first tweet struggles to find buyers during resale
NFTs have been touted as t
he digital answer to collectibles. However, they have no tangible form of their own, and experts

have warned about risks in the market. This can be seen from the recent developments as the NFT of Twitter boss Jack
Dorsey's first tweet struggles to find buyers Earlier crypto-entrepreneur Sina Estavi had bought the NFT of Twitter boss
Jack Dorsey's first tweet for $2.9 million. He tried to sell it with the initial ask being $48 million. But his efforts to resell it
were in vain as offers in the first week were in the low hundreds of dollars. Because of this, he was no more sure that we

sell the NFT and even the price tag was removed.READ MORE

Elon Musk Makes $43 Billion Unsolicited Bid to Take Twitter Private

Billionaire entrepreneur Elon Musk offered to take Twitter Inc. private in a deal valued at $43 billion, lambasting company
management and saying he’s the person who can unlock the “extraordinary potential” of a communication platform used
daily by more than 200 million people. Musk said he’ll pay $54.20 per share in cash, 38% above the price on April 1, the last
trading day before Musk went public with his stake. He announced the proposed deal in a filing with the U.S. Securities and
Exchange Commission after turning down the chance to take a board seat at the company.
Unsatisfied with the influence that comes with being Twitter’s largest investor, he has now launched a full takeover, one of
the few individuals who can afford it outright. Although Musk is the world’s richest person, how he will find $43 billion in

cash has yet to be revealed. READ MORE

13

VOICE NAME:
YOUR KHUSHI PARMAR
OPINION
COLLEGE:
Elon musk's untaxed wealth is helping finance his twitter Dyal Singh College
buyout.
If you look at Musk’s ‘income’ as defined by our tax code, you COURSE:
see that the guy is really rich, but not rich enough to buy B.Com.(Hons)
Twitter. The head of Tesla and SpaceX announced an
agreement to take Twitter private for $54.20 a share,
pledging to equity finance $21 billion himself and use a $13
billion in debt financing. Critics, including Senator Elizabeth
Warren, say he is only able to do that because of lax taxation
of billionaires.
Musk is using tried-and-true strategy favoured by many
American billionaires who have amassed highly appreciated
stock — borrowing those assets to get cash without having to
sell and pay taxes. Musk has a margin loan against some of
his Tesla holdings for $12.5 billion of the deal.The details of
how Musk plans to come up with another $21 billion aren’t yet
clear in the financing agreement. He could sell Tesla or other
stock, which would incur a significant tax bill. It’s possible he
could fund some of that by borrowing against his stakes in
SpaceX and the Boring further using the IRS rules to tap tax-
free cash.
Musk is worth $257.4 billion, according to the Bloomberg
Billionaires Index. Much of that fortune is held in Tesla and
SpaceX stock, which can grow indefinitely untaxed. For any
loans against his assets, Musk also gets a tax write-off for
the interest on that debt. Musk faced a multi-billion-dollar tax
bill last year after selling a portion of his Tesla shares.
“Borrowing does not create any income in our system
because the borrowing is offset by the obligation to repay,”
Steve Rosenthal, a senior fellow at the left-leaning Urban-
Brookings Tax Policy Center, said.

14

FINANCIAaLL
METRICS

An aid to investors in judging financial
companies

The following metrics are necessary to be researched before
investing in fintech companies -

1. Book value- It's the difference between the assets a company owns and its liabilities. It
is useful when traditional metrics like earnings don't make sense or the assets a company
owns doesn't really match up to the actual value of the business. The more the book value,
the merrier it is.
2. Price-to-book value- It tells you how much a bank is trading for based on the actual
value of its assets minus liabilities.
3. Tangible book value-Tangible book value includes the assets that are fairly easy to sell
or determine a price of. For example, banks can sell their loans to other banks, so that's a
tangible asset. The more tangible book value is, the better it is.
4. Return on equity - It shows how efficiently a bank or any company is using its
shareholders' equity to generate a profit. For example, if a bank's book value is say, $300
billion, and it's generating $30 billion in annual profit, that would be at 10 percent return on
equity. You want to see the benchmark be 10 percent or higher.
5. Efficiency ratio- For this measure the lower the ratio is, the better it is. Efficiency ratio is
how much money a bank is spending to generate its revenue. If a bank is spending 70
cents for every dollar of revenue it's generating, its efficiency ratio would be 70 percent.
Roughly about a 50% percent efficiency ratio is what you should expect from a FinTech
bank
6. Charge -off ratio- Charge-offs are loans that have been deemed uncollectible and are
going to be written off. This number should be as low as possible. Most major banks are in
the 0.5 percent range
7. Net interest margin - Think of this as the bank's profit margin. If a bank is collecting 5
percent interest on its loans, paying 1 percent on deposits, the difference between that is 4
percent. Subtract whatever administrative costs are involved in those loans and then you
get your net interest margin. Obviously this should be as high as possible.
8.Take rate- Take rate is the percentage fee for providing a service. Reasonable
percentage for fintech company should be around 2%.

15

FI N A N C I A L
APTITUDE
Circle the answe
rs of the
question in the grid

1.He is the CEO of the world’s biggest search engine.
2.The brand ambassador of IDFC first bank
3.This company has the highest revenue sales in India?
4.Indigo Appointed whom as its managing director?
5.Grofers has rebranded itself to?
6.Whose company’s tagline is “Innovation Never stands still”?
7.The founding team members of Paypal also found?
8.BMW appointed which Indian

cricketer as their brand ambassador.
9. He is the founder of world’s

biggest e-commerce company
and third wealthiest person
according to forbes
10. Whose company’s tagline is “Let
the truth prevail”?

ANSWER TO MARCH EDITION
1. 1000 2. 8 dollar 3. 10 pesos 4.the dollar didn't "go" anywhere 5. 5c
6. 1:45 7. $2 8. 100 oranges 9.A nickel and a quarter 10.He paid cash

NOTE : ANSWERS WILL BE IN UPCOMING EDITION

16

L

I

G CAMERA
H
FINANCE
T

S

Amazon plans expansion, launches its first mobile New NFTs and levels to be added in
games through Amazon Kids+ subscription service "Louis: The Game"
Amazon has announced that it
is bringing the fun of mobile
Earlier in August 2021, Louis Vui
tton, one of the favorite brands
gaming to its fans by bringing two mobile games to its
subscription-based entertainment platform 'Amazon Kids+' for for lovers of luxury and high fashion, launched Louis: The Game, a
children. The first game, Super Spy Ryan is a multiplayer game game that allows users to accompany a character named Vivienne
based on the children's TV show Ryan's World. Another mobile through a virtual world in search of exclusive postcards of the
game, Do, Re & Mi, is a musical education game designed for brand that are actually NFT's. Seeking greater reach and
preschool kids. The games have been developed within a span of involvement with young consumers, the brand has announced the
two years and are based on hit shows from the Amazon Kids+ arrival of new NFT's loaded with information around the brand's
shows. They have been developed by Amazon in collaboration 200th anniversary, as well as a game update. Unlike other
with the Kaji Family, the teams at Ryan's World, p.w Games, and companies that have simply auctioned off NFTs, Louis Vuitton
invites fans to solve puzzles in the game to earn the right to enter
Amber Studio. READ MORE a raffle of ten different NFTs featuring Vivienne in a variety of the

Microsoft is planning ads in its free-to-play Xbox brand's diverse looks. READ MORE
console games
Johnny Depp says Amber Heard's 'lies' cost him
Microsoft is investigating the world of in-game advertising and 'everything': No matter outcome of trial, I'll
could use it as a way of increasing access to its games streaming carry this for the rest of my days
membership the Xbox Game Pass. It is planning to introduce
advertisements in its free-to-play Xbox console games. The ads Actor Johnny Depp, testifying in a defamation case against his former
will not disrupt the game and would rather appear on a billboard in wife Amber Heard, said on Wednesday that she was the one who
a racing game. Also, Microsoft is planning to introduce an Xbox became violent in their relationship and that her false accusations
Game Pass family plan this year which will reportedly provide cost him "nothing less than everything."In a second day on the
access to Xbox Game Pass for five players and will be priced witness stand in a Virginia courtroom, Depp said the couple had
cheaper than the cost for separate accounts. Microsoft currently frequent arguments that included "demeaning name-calling" and
offers Xbox Game Pass or PC Game Pass for $9.99 per month
"bullying" by Heard. READ MORE
and the above change is very likely. READ MORE
HBO Max backs ‘Minecraft’ movie with
Will Smith banned from Oscars for 10 years ‘Aquaman’ star Jason Momoa
over slap
HBO Max has entered into final negotiations with Jason Momoa to
Will Smith has been banned from the Oscars gala and other Academy star in the Warner Bros. live-action “Minecraft” movie. The
events for 10 years after the US actor slapped comic Chris Rock at the movie's script is written by Chris Bowman and Hubbell Palmer and
ceremony. In a statement, the Academy said the 94th Oscars had been the Napoleon Dynamite filmmaker, Jared Hess will direct the
"overshadowed by the unacceptable and harmful behavior we saw Mr. project based on the popular video game. Warners has been
Smith exhibit on stage". Smith has apologized for his actions and resigned developing a project based on the game for years, with Shawn
from the Academy. The actor hit Rock for joking about his wife's shaved Levy and It’s Always Sunny in Philadelphia star Rob McElhenney
head, a result of the hair-loss condition alopecia. Less than an hour later, among those who have been attached to direct. This can prove to
he was awarded the best actor award for his role in King Richard, where be a big step for HBO Max and we will have to see if this upcoming
he played the father of tennis stars Venus and Serena Williams. The video game-based title will keep up with the gaming live-action
Academy said that directly after the slap it did not "adequately address movie trend that Hollywood is so determined to push forward.
the situation in the room" and had been "unprepared for the
unprecedented". It apologized for this. It also thanked Rock for READ MORE
"maintaining his composure under extraordinary circumstances".

READ MORE

17

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