/ finanza.dsc /finanzadsc.com FOLLOW US : ISS U E • 3 1 M A R C H 2 0 2 3 • S U B S C R I B E HIGHLIGHTS UN Conference seeks solutions on the Global Water Crisis World's first 3D-printed rocket Supreme Court asks SEBI to refund Rs 300 cr to NSE The Collapse of the giant ‘SILICON VALLEY BANK’ Zee Entertainment likely to repay IndusInd $10 million to wrap Sony Viacom18 ropes in 13 streaming sponsors for IPL MARCH EDITION 2023 Karnataka approves 78 investment proposals worth Rs 5,298 crores, creating 13,917 jobs
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I 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 2022-23 PRINCIPAL'S CORNER PROF.V.K.PALIWAL
II FROM OUR MENTOR'S DESK DR. RITA NAGPAL Finanza, the finance society of Dyal Singh College is a voluntary group of students aiming to disseminate quintessential knowledge on finance and related aspects through the conduct of its activities throughout the year. 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. ( TIC , FINANZA ) With each new edition of the newsletter, I hope that our society creates the best content for you to make it not only informative but also interesting and relatable. Society promises to be unfettered in efforts to make finance easy and simple for you. With the hope that these pieces help you enhance your knowledge, I wish that you have a pleasant reading experience.
VICE PRESIDENT PRESIDENT ANURAG TEWARI PUNITA PUNANI 2022 - 23 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! III
IV NAMAN GOYAL MANYA JUNEJA (PROJECT SUPERVISOR) YASH KULSHRESTHA (PROJECT SUPERVISOR) VARUN SONI (PROJECT SUPERVISOR) TEESHA ARORA (PROJECT SUPERVISOR) ANJALI JAIN (PROJECT SUPERVISOR) VANSHIKA GARG Mayank Mehra NAKUL SAWLANI PRANAY SHREYA LALIT VIDIT GUPTA YASHIKA SEMWAL SURUCHI PARTH SINGH Nayan Dhingra UDAY VATS GRAPHIC TEAM VIHANA BHARGAVA SHRISTY PRIYA M E E T T H E T E A M SHREYANSH ARYA (PROJECT LEADER) DEBROTO MANDAL (NEWSLETTER HEAD) ANANAYA KHARBANDA (HUMAN RESOURCE HEAD) RESEARCH & CORPORATE RELATIONS EDITORIAL TEAM MRIDUL GARG TARANG CHAUDHARY (PROJECT COORDINATOR) ANISH PUJAPANDA (EDITOR-IN-CHIEF) MAHAK AARTI UJJWAL ABHIRAJ
1 CORPORATE STARTUPS & Check out our latest video : Finanza.dsc JPMorgan Chase acquires Aumni The biggest U.S. bank by assets is buying the 5-year-old Utah-based company as part of a broader push to deepen relationships with venture capital investors and their companies, according to Michael Elanjian, who leads JPMorgan's digital private markets efforts. Since 2020, JPMorgan has bought a half-dozen startups to bolster its capabilities in areas from payments to ESG investing. JPMorgan decided to buy Aumni after leading its 2021 investment round, said Elanjian. Aumni is a data platform that helps users analyze and understand their holdings via a simple dashboard. READ MORE READ MORE SPJIMR FinNovate Accelerator Bharatiya Vidya Bhavan’s S.P.Jain Institute of Management and Research’s Centre for Financial Innovation (CFI) has collaborated with Mumbai Angels to introduce the ‘SPJIMR FinNovate Accelerator’. Under the SPJIMR FinNovate initiative, startups will have access to a comprehensive range of resources, including learning, mentoring, business support, funding, and certification, all in one place. 25 outstanding mentors, including prominent figures from corporate giants such as HDFC Bank, ICICI Lombard, ICICI Prudential AMC are only a few among others. READ MORE IFSCA forms committee to onshore the Indian innovation to GIFT IFSC. International Financial Services Centre Authority (IFSCA) has formed a committee to onshore the Indian innovation to GIFT International Financial Services Centre (IFSA) to better understand the nuances from regulatory, tax, legal and other perspectives and identify measures required to make in India. The committee will be chaired by G. Padmanabhan, former Executive Director, Reserve Bank of India. The committee includes representatives from leading venture capital funds, Startups, fintechs, law firms, tax firms and other domain experts. READ MORE Stakeboat Capital invests in healthcare startup Sukino Bangalore-headquartered healthcare startup Sukino Healthcare Solutions has secured Rs 50 crore in a Series A round of funding from Stakeboat Capital, an independent growth equity firm. Sukino plans to use the fresh funding for its expansion plans to new geographies and other areas of rehabilitation using technology. It currently has five centres and aims to expand it to 20 centres with a capacity of 1500 beds over the next three years. Agritech startup "Sorted" raises over $5 million as seed funding Agri startup Sorted, a tech platform founded by ex-CEO of Milkbasket Anant Goel for quality fruits and vegetables, has raised more than USD 5 million as seed funding to grow business. Sorted will enable access of straight-from-the-farmers, quality fruits & vegetables, at a highly competitive price, to customers through the medium of their choice call, message, online or offline. READ MORE
2 CORPORATE STARTUPS & Check out our latest video : Finanza.dsc Ford Inches Toward a Big Reveal of Losses From EV Business Ford’s radical reorganization last year aimed to allow moretargeted investments in high-growth areas, showing how committed the automaker is about catching up in the EV market. The company now is set to take the next step in that process, unveiling an overhauled financial reporting structure for the redesigned company that lays out profit and loss for each business line. The new-look balance sheet will give investors a more complete view of Ford’s nascent EV business, including expenses and revenue — and how much money it’s losing. The purpose of what Ford insiders call a “re-founding” of the 120-year-old company is to chase Tesla’s strong margins, which are three times more than Ford’s highest hopes for its EV business. READ MORE READ MORE SVB crisis: Indian start-ups' deposits worth $1 bn stuck Rajeev Chandrasekhar, Union minister of state for electronics and information technology, said a conservative estimate of more than $1 billion of money "attributable to Indian start-ups" was stuck in the cashstrapped Silicon Valley Bank as deposits at the time of its collapse. His statement comes amid the collapse of US-based Silicon Valley Bank, Signature bank, and Silvergate Corporation, which has rattled the entire tech and banking ecosystem globally. Until the time of its collapse, the California-based Silicon Valley Bank was associated with providing funding to the global start-ups and venture capital ecosystem. The collapse of SVB had a direct impact on hundreds of startups, with the funds invested in them also being impacted significantly. READ MORE Silicon Valley Bank Panis: Shares plunge As a large regulated bank, SVB has been viewed as a stabilizing force. But its latest financial maneuvers are raising alarm bells among the firm's client base. SVB was forced into a fire sale of its securities, unloading $21 billion worth its holdings at a $1.8 billion loss, while also raising $500 million from venture firm General Atlantic, according to a financial update late Wednesday. After its stock soared 75% in the 2021 market rally, SVB lost twothirds of its value last year and then plummeted another 60% during regular trading and an additional 22% after the close. READ MORE Travel tech startup Mystifly raises $8 million in funding Singapore-based travel tech startup Mystifly announced that it has raised funds from CSVP (Cornerstone Venture Partners), concluding its pre-series B funding at $8 million, which includes earlier investments from RSI Fund (a subsidiary of Recruit), Jenfi & Crusade Partners, among others. Mystifly offers SaaS and marketplace platform for the travel distribution sector. It enables online travel agencies and travel intermediaries to access the inventory of . The startup also offers airlines an alternative distribution and payments reconciliation and settlement platform, it said in a press statement. World's first 3D-printed rocket Startup Relativity Space sent what it's calling the "world's first 3D-printed rocket" toward space on 22nd March 2023, vaulting it into the upper reaches of the atmosphere. Though, it suffered an engine issue after launch and failed to reach orbit. The mission, nicknamed "Good Luck, Have Fun," lofted what the company described as a prototype vehicle, along with a hunk of metal — the first object printed by Relativity's massive 3D printer — as a commemorative token. READ MORE
3 F I N A N C I A L L E A D E R György Schwartz Born: August 12, 1930 (age 92), Budapest, Kingdom of Hungary, (now Hungary) Citizenship: Hungary,United States Education: London School of Economics (BSc, MSc) Occupation(s): Investor, hedge fund manager, author, philanthropist Known for: Philanthropy, Managing Soros Fund Management, Founding the Open Society Foundations, Advising the Quantum Fund 1969 to 2011: George Soros is a celebrated hedge fund tycoon who managed client money in New York. 1987: He correctly foresaw the worldwide stock market crash of October —but wrongly predicted that Japanese stocks would fall hardest of all. 1992: Soros shorted the British pound and reportedly made a profit of $1 billion. He became known as the man who broke the Bank of England. 1997: Soros’s name was soon linked with the financial crisis that swept Asia the following year even after he denied involvement in speculative attacks on the Thai baht. Malaysian Prime Minister Mahathir bin Mohamad singled out Soros, stating that he was responsible for the decline of the ringgit. GEORGE SOROS: The Man who Broke the Bank of England Check out our latest video : Finanza.dsc 2000: his investment style became more conservative in the wake of the implosion of the technology bubble. 2002: A French court convicted Soros of insider trading for a 1988 stock deal involving financial services company Société Générale, and he was fined €2.2 million ($2.9 million). 2003-04: Provided start-up funding for the liberal think tank the Center for American Progress, and he pledged millions of dollars to groups such as MoveOn.org to oppose the reelection of Pres. George W. Bush, a Republican. 2010: Soros gave $100 million to the nongovernmental organization Human Rights Watch. 2011: Quantum Endowment Fund announced that they would no longer manage the money of outside investors but only the assets of Soros and his family. 2018: Soros shifted $18 billion from his family office to his Open Society Foundations. Soros has long been one of the Democratic Party's most generous donors and poured $125 million into a super PAC ahead of the 2022 midterm elections.
4 PERSONAL FINANCE Blow for bond markets as long term tax benefit scrapped for Debt Mutual Fund READ MORE The government has proposed a major shake-up in the taxation of debt mutual funds with the introduction of the Finance Bill 2023. Under the new amendment, capital gains arising from debt mutual funds will no longer be classified as long-term capital gains, but instead as short-term capital gains. The proposed changes, once approved by the parliament, would be applicable to investments made on or after April 1, 2023. No LTCG for debt and non equity mutual funds. What it means & impact ? The latest amendment to the Finance Act proposes to remove the benefit of indexation and longterm capital gains (LTCG) for non-equity mutual funds. The proposed amendment is likely to bring debt funds in line with fixed deposits. The new rule will come into force from April 1, 2023. READ MORE Emergency funds : Should you redeem your securities or borrow ? Selecting the option depends on the individual's financial situation. If the need for funds is small then one can opt for a loan of a shorter period without having to disrupt the long-term financial plans. But if your long-term investments are not yielding then it is better to use the securities in such situations.READ MORE Quant Mutual Fund launches Dynamic Asset Allocation Fund; all you need to know Quant Mutual Fund announced the launch of the quant Dynamic Asset Allocation Fund, an openended dynamic asset allocation fund tracking the CRISIL Hybrid 50+50 Moderate Index constituents. This is a kind of open-ended dynamic asset allocation fund investing in equity and equity-related instruments including derivatives and debt and money market instructions. READ MORE Income that is being earned as interest needs to be taxed : Finance secretary TV Somanathan "There should be parity between various debt instruments. Income that is being earned as interest needs to be taxed," said finance secretary TV Somanathan. He said the pensions committee will look into issues being raised by all quarters. "Isn't it interest, what do you get from debt mutual funds, is it share capital gains or do you get debt interest?" READ MORE
5 The collapse of the giant 'SILICON VALLEY BANK' The hard-hit tech sector first made news in late 2022 and early 2023 with mass layoffs and now the collapse to SVB and how it may affect tech companies and startups moving forward. What is Silicon Valley Bank ? SVB was based in Silicon Valley and was founded in 1983 and was the 16th largest U.S. bank before it's collapse. They specialized in financing and banking for venture capital - backed startup companies, mostly technology companies. Why was SVB important to the tech sector ? SVB had assets totalling $209 billion at the end of 2022, according to the Federal Deposit Insurance Corporation (FDIC) and with these assets it provided financing for about half of all U.S. venture - backed technology and healthcare companies. It was a preferred bank for the tech sector because they supported startup companies that not all banks would accept due to higher risks. The pandemic in 2020 was a hot period for SVB as the tech companies had a large influx of cash because the consumers spent big money on digital services and electronics. The bank invested much of these deposits as banks typically do. Why did it collapse ? 1. Lack of diversification A. Silicon Valley Bank invested a large amount of Bank deposits in long-term U.S. treasures and agency mortgage - backed securities. However, bonds and treasury values fall when interest rates increase. When the Federal Reserve hiked interest rates in 2022 to combat inflation, SVB's bond portfolio started to drop . SVB would have recovered it's capital if they held those bonds until their maturity date. B. Silicon Valley Bank used to lend out money in short durations. However, in 2021, they shifted to long-term securities such as treasuries for more yield, and they did not protect their liabilities with short-term investments for quick liquidations. They were insolvent for months because they could not liquidate their assets without a large loss.
6 The collapse of the giant 'SILICON VALLEY BANK' 2. Bank Run A. When SVB announced their $1.75 billion capital raising on March 6, people became alarmed the bank was short on capital. Word spread quickly on social media accounts such as Twitter and WhatsApp inducing panic that the bank didn't have enough funds. Customers started to withdraw money in waves. SVB's stock plummeted by 60% on March 7 after its capital raising announcement. Some people are saying the bank run was Twitter - fueled. California regulators shut the bank down on March 8 and placed SVB under the FDIC. . B. Unlike personal banking, SVB's clients had much larger accounts. It didn't take long for money to diminish during the bank run, with escalating pace of withdrawals causing a snowball effect. Most customers had deposits more than the $250000 FDIC limit. Many startups left money in their SVB primary account instead of using other accounts - such as a money market - to pay expenditures. This means most of their working capital was mainly in their SVB account, and they needed access to their deposits for payroll and bills. Who is affected by the collapse ? SVB stockholders and investors took a big hit because, unlike customers, they were not backed by FDIC on their investment. Other issues include a lack of money from deposits for immediate expenses such as payroll. Large tech companies with significant cash in SVB include Etsy, Roblox, Rocket Labs and Roku. The FDIC insures most banks . However, the accounts were insured to only $250,000. With company accounts, this is not much, as they may spend millions in a month. 1. 2. What is the Federal Reserve doing ? The government is not bailing out SVB. It will stay collapsed, and the remaining assets will go to creditors. A buyer can bring it back to life if another bank purchases it. As of March 12, the government guaranteed to cover all deposits at SVB. However this guarantee does not include shareholders or unsecured creditors. Silicon Valley Bank is closed , so the FDIC formed the Deposit Insurance National Bank of Santa Clara to consolidate insured and uninsured deposited into one institution. All deposits of SVB were transferred to the National Bank of Santa Clara, and insured depositors had access to their funds on March 13. The FDIC will pay uninsured depositors an advanced dividend. They will receive a certificate with the remaining amount of their uninsured funds to receive remaining funds when the FDIC sells SVB's assets.
7 FINANCIAL FACTS YOU DIDN'T KNOW Pfizer announces 12-week paternity leave policy Pfizer India announced a 12-week paternity leave policy for its employees as part of its diversity and inclusion initiatives. The new leave policy is applicable from 1st January 2023 and can be availed by biological as well as adoptive fathers. The policy offers birthing and non-birthing fathers the flexibility to avail leaves over a period of two years. The minimum number of leaves that can be availed in a single tranche is two weeks and the maximum is six weeks. Prices of commercial gas cylinders hiked by Rs 25 India's oil marketing companies (OMCs) have started off the year with a price increase, raising the rate of commercial liquid petroleum gas (LPG) cylinders by Rs 25. With the price of domestic cylinders unchanged, regular consumers might not feel the pinch, but restaurateurs and hoteliers will, with the price of commercial cylinders now Rs 1,769 in Delhi, Rs 1,721 in Mumbai, Rs 1,870 in Kolkata and Rs 1,971 in Chennai. OMCs increased domestic cylinder prices last time on July 6, 2022. Bhagwati gets Rs 5.3 cr under PLI for IT hardware "Bhagwati Products has become the first domestic company to bag the disbursement under the PLI scheme for IT hardware," the company said. The incentive has been disbursed for 2021-22. Under the PLI for IT hardware, the company manufactures desktops, laptops and tablets for Acer and Realme, along with other smaller brands. READ MORE READ MORE READ MORE READ MORE Apple CEO Tim Cook takes 40% pay cut for FY 2022 According to a new regulatory filing in the US Securities Exchange Commission (SEC), Cook's pay will drop from $84 million in 2022 to $49 million in 2023, at his own recommendation, reports The Verge.The pay change is entirely from an adjustment in his equity value. In 2022, that value was estimated to be worth $75 million. However, that drops to $40 million this year amid the economic slowdown. Cook's base salary of $3 million and his annual cash incentive of $6 million will remain the same. Granules India entered into a strategic partnership with Greenko Group This will be the first of its kind alliance in India's pharmaceutical industry, to collaborate for green molecule solutions to consolidate sustainability efforts. Pharma industry uses chemicals most of which are linked to high carbon emissions. Drug maker Granules India on Tuesday said it has entered into a strategic partnership with Greenko Group to develop Integrated Green Pharmaceutical Zones (GPZ) starting with Kakinada, Andhra Pradesh. Ola fires about 200 employees in a fresh round of layoffs Domestic mobility company Ola has fired about 130- 200 employees in a fresh round of job cuts. According to a report by ET, the SoftBank-backed company has made the job cuts across its ridehailing, electric vehicle and fintech businesses. Initially, Ola planned these 200 job cuts on September 2022 as the company wanted to curb its unrequired workforce. The report claims that the current layoffs are the same round of layoffs which was supposed to happen in September. The Ola official also mentioned that these job cuts were more of a “re-purposement exercise” by the company as it has shifted focus from making a super app to just concentrating on its ride-hailing and EV businesses. READ MORE READ MORE READ MORE Passport officer cannot act as mouthpiece of J&K CID: HC The Jammu and Kashmir and Ladakh High Court has pulled up authorities for denying passport to PDP chief Mehbooba Mufti's mother, saying the passport officer cannot "act as a mouthpiece" of the CID. Justice M A Chowdhary, while hearing the petition of Mehbooba's mother Gulshan Nazir, said it appears, there is no ground to refuse her request for issue or renewal of passport. The court said otherwise also, in the report relied upon by the respondents --the passport officer and the appellant authority -- nothing adverse has been recorded against the petitioner with regard to any security concerns. Avenue Supermart shares down 1.8% as Nifty falls According to exchange data, the stock traded at a priceto-earnings (P/E) multiple of 108.16 while price-to-book ratio stood at 18.94. Shares of Avenue Supermarts Ltd rose 1.8 per cent to Rs 3856.35. It hit an intraday high of Rs 3965.95 and low of Rs 3851.0, respectively in a single day. The stock quoted a 52-week high price of Rs 4798.9 and low of Rs 3185.1. As of 01:32PM (IST), the counter saw total traded volume of 24,956 shares with a traded value of Rs 9.73 crore, according to NSE. READ MORE
INDIA 8 Delhi's 78,890-Crore Budget: Saaf, Sundar, Adhunik - Infrastructure and waste management push Delhi's revenue woes spark concernsDelhi's finance minister, Kailash Gahlot, has expressed concern about the capital's declining revenue due to reduced central funds and frequent government and Lieutenant Governor interventions. Gahlot recently presented Delhi's budget and claimed that the city only received INR 325 crore ($43 million) from the central tax pool despite paying INR 1.75 lakh crore ($23 billion) in income tax. He described this as "economic discrimination" and "gross injustice" and said the Delhi government is considering going to court to seek its rightful share of taxes. Mahendra Kumar Rawat, Manager of Finance and Accounts division of Oppo Mobiles India, has been arrested by the Central Goods and Services Tax (CGST) Commissionerate of Mumbai Zone for allegedly availing input tax credit worth Rs 19 crore through fake invoices. Oppo Maharashtra was found to have been involved in fake ITC without receipt of any goods, and Rawat is believed to have played a key role in availing the fraudulent ITC amount. This arrest is part of a special drive against tax fraudsters and tax evaders launched by the CGST Mumbai Zone. Delhi's finance minister Kailash Gahlot presented a budget of INR 78,890 crore with a focus on infrastructure and waste management, aimed at making Delhi "saaf, sundar aur adhunik" (clean, beautiful, and modern). The budget includes INR 21,000 crore for a nine-point infrastructure plan, which includes road beautification and cleaning, acquisition of electric buses, and clearing of Delhi's garbage mountains. Chief Minister Arvind Kejriwal emphasized that despite the city's free amenities such as power, water, education, health, and free travel for women in buses, making Delhi a clean, beautiful, and modern city was a top priority. . READ MORE Oppo official arrested for Rs 19 crore tax fraudREAD MORE Mizoram plans 800 MW hydropower plants to cut external dependency The Mizoram government has prepared DPRs for setting up five hydroelectric power plants to generate 800 MW, aiming to reduce its dependence on outside power. The governor has asked officials to fine-tune the DPRs and discuss the proposed projects with the Union Power Ministry and explore possibilities of tapping the resources of big PSUs. The state spends around Rs 400 crore annually on purchasing power from outside READ MORE READ MORE
INDIA 9 Tamil Nadu to Launch Rs 1,000 Monthly Assistance Scheme for Women Bengaluru auto driver unions protest against Rapido Auto driver unions in Bengaluru are protesting to ban whiteboard bike taxi services, specifically targeting Rapido, which they claim has negatively impacted their business. Over 200,000 drivers from 21 organizations are expected to participate in the protest, which will include a march from the city railway station and potentially a siege of the Chief Minister's residence. The protest will continue until midnight on Monday, and the unions had previously given the government a threeday ultimatum to ban bike taxi services. Delhi's per capita income increased by 14.18% to Rs 4,44,768 in 2022-23, with tax collection registering a growth rate of 36%. The city's economy is predominantly service sector-oriented, with a contribution of 84.84% to the Gross State Value Added. Delhi's revenue surplus increased to Rs 3,270 crore in 2021- 22. The transport sector has been allocated 20% of the total budget allocation of schemes, followed by Education (17%), water supply and sanitation (15%), and medical and public health (13%). The Tamil Nadu government has announced that it will launch a monthly assistance scheme of Rs 1,000 for eligible women who are heads of families on September 15, 2023. The scheme, promised by the DMK ahead of the 2021 Assembly election, will be implemented with Rs 7,000 crore set aside in the Budget 2023-24. The announcement was made by Finance Minister Palanivel Thiaga Rajan during his Budget address. READ MORE Delhi Economic Survey- Per Capita Income and Tax collection increases Supreme Court asks SEBI to refund Rs 300 cr to NSE India's Supreme Court has directed the market regulator, SEBI, to refund $36.3 million to the National Stock Exchange of India in a case involving alleged lapses in the bourse's systems. SEBI had ordered the NSE to deposit nearly $149 million in an investment fund and barred it from raising money from the securities market directly or indirectly for six months in 2019. The court also refused to stay a tribunal order that had set aside SEBI's ruling against NSE. READ MORE READ MORE READ MORE
10 Central Banks takes Swift Action TThe White House announced a new cybersecurity strategy in the latest effort by the US government and also to boost the cyber defence system amid the hacking and digital private system in the country. The strategy is intended to tighten regulation of the thus existing cybersecurity practices across the Industries and also improve collaboration with the government and private sector.Biden has also announced for new plan to improve the digital defences for the public water systems and also to curb the amount of digital hacking that is happening due to this. The IMF (International Monetary Fund ) Chief Kristalina Georgieva that there were risks to Financial Stability have increased and thus called on for different continued actions by advanced economies have calmed market stress and the IMF Global Growth have thus 3% slowed due to scarring from the Pandemic, and the war in Ukraine and Monetary Tightening . The Global Growth will remain well below its historic average of 3.8% and the overall outlook remained weak as per the statement in the China Development Forum . GThe collapse of the Silicon Valley Bank and the troubles at the Credit Suisse of the fact that many tremors and signals are able to be shown and the US based SVB went down to suffering losses in the government backed bonds and thus the value rose up as a result of the rising interest rates . This is not a good sign for the Indian Company as the 2008 style crisis shows that the caused shares in the top European Banks and thus dragged 100 down to its lowest level. WORLD Global Financial Crisis Warning The home of Hollywood has overtaken China 's commercial capital. Los Angeles has taken 6 th Spot on the Global Financial Centres Index (GFCI) and thus is pursuing Shanghai into 7 th Place and meanwhile Chicago and Boston have broken into the top 10 categories with their exceptional working of activities. . Financial Stability Risks have increased as per IMF Biden Announces National Cybersecurity Strategy Banking Regulators thus increase the Scrutiny of the Shadow Bank Exposures The London Reuters will set up how the Scrutiny happens from the Systematically Important Banks that could destabilize the lenders as per the report of one of the top banking regulators told in statement on Friday. NBFI (Non Bank Financial Intermediaries) are including the Insures and now make up nearly half of the World'Financial Assets as this is quite required to see on to the Financial Stability of the systems. READ MORE Los Angeles Overtakes Shanghai in World Financial Centers Ranking READ MORE Central Banks are rushing towards keeping up the Cash Flow through the World Financial Systems and after the failure of the 2 US Banks and the rescue of the Credit Suisse that sent shockwaves across the Global Markets and also thus six central banks have thus announced for boosting the flow of US Dollars. This measures were last taken last time in the 2008 financial crisis and at also the height of Covid Pandemic and the Stock Markets are thus constantly collapsing as the SVB is collapsing. READ MORE READ MORE READ MORE READ MORE
The Canadian border security agency has asked around 700 Indian students to return back to India after they were found that the documents produced by them were allegedly fake and thus consultants and students who were planning to study abroad are completely in a devastating mode and are totally worried regarding their admission. According to the Reports ,there is a person named Brajesh Mishra who took 16 lakh rupees from each student for a journey towards Canada and now he is under investigation by the CSBA. This is one of the most serious concerns that needs to be looked at and solved quickly. 11 MISCELLANEOUS The domestic equities have rebounded sharply from the levels and they were trading before the nation thus went into the Lockdown in March 2020 and due to the extreme high rise of Covid levels and cases. GE Power India Shares have gone down by more than 70% and Yes Bank Shares have gone down by more than 60% . The Shares of Gulf Oil and Hitachi Air are also down by 20-50% . This is one of the most long -lasting effects of the Covid -19 as per the analysis by the ET Markets . Sebi speeds up action against social media SEBI( India Market Regulator has planned out to take action against the 4 companies alleged to have been pushing the stock tips via the Social Media without authorisation and documents that were reviewed by the Reuters and there are regular actions which have followed an 4 complaint orders to socialize this and look into this things properly for our future course of action and works and activities. This is one of the most wrong practices that have been started in today's market and which needs to be stopped so that proper functioning of the market is possible. Indian Students in Trouble in Canada Indian in 3rd Rank in Self Made Billionaires India is ranked 3rd in the position of Self Made Billionaires with around 105 billionaires whose cumulative wealth is estimated around to be 381 billion dollars according to Hurun Global Rich list and the Report shows that the number of billionaires in India have constantly risen over the last period of years . This might be a good sign for the economy of India but we have to also see that the economic divide between the top income group and lower income group should remain proper and should constantly be equal so that everyone can enjoy the good standards of living. Indeed Platform to cut down workforce READ MORE READ MORE READ MORE READ MORE The US Based platform Indeed is planning to cut about 2200 jobs that is estimated to be the 15% of the total workforce it has as its joining the host of companies and also thus rationalizing their labor force and thus following the pandemic fueled hiring bloom in the Country. The future hirings in the company would be at a limited stage as the company doesn't require much job provisions as of now. Covid 19 Prolonged Effects READ MORE
12 FINANCIAL METRICS FINANCIaL Nirmala Sitharaman hikes STT o M n sale ETRICS of options and futures by 25% Debt mutual funds to lose long-term tax benefits from April 1 After Adani, Hindenburg accuses Block of $1B fraud and misleading investors Hindenburg Research released a report on Twitter Cofounder Jack Dorsey's payments group Block, formerly known as Square. Hindenburg Research stated the company facilitated fraud against consumers and the government avoided regulation, dressed up predatory loans and fees as revolutionary technology, and misled investors with inflated metrics. Report claimed Block cofounders Jack Dorsey and James Mckelvey collectively sold over $1 billion of stock during the pandemic. Block reported pandemic surge in user counts and revenue, ignoring contribution of widespread fraudulent payments, the report said European stocks fall as Deutsche Bank sparks another bank rout US raises interest rates despite banking turmoil The Federal Reserve raised interest rates for the ninth time in a row on Wednesday, opting to continue its campaign against high inflation despite stress in the banking industry following the collapse of two regional banks- Silicon Valley Bank and Signature Bank. The Federal Reserve increased its key rate by 0.25% points, calling the banking system "sound and resilient". Members of the Fed's rate-setting committee believe slightly higher rates may be necessary to restore price stability. Finance Minister Nirmala Sitharaman hiked the securities transaction tax (STT) on sale of options as well as futures by 25% each. Securities transaction tax is nothing but a type of direct tax imposed by the central government on buying and selling of securities like equities, futures and options in percentage terms, STT on sale of futures has been hiked from 0.01% to 0.062%. The hike in STT was added as an amendments the Finance Bill 2023 which was approved by the Lok Sabha on March 24. READ MORE READ MORE MGNREGS wages raised by up to 10.4% for FY24 The government has raised the daily wage rates under the Mahatma Gandhi National Rural Employment Scheme (MGNREGS) by up to 10.4% for FY 24 from a year before. The MGNREGS guarantees 100 days of employment in every fiscal year to adult members of any rural household who are willing to do unskilled work for public purposes. The hikes are linked to the changes in the Consumer Price Index (Agriculture Labour), which captures the inflationary pressure in rural areas. Rajashthan saw the highest increase (10.4%) in the wage rate for FY24 and Goa the lowest hike (2.2%). READ MORE The government has made changes in finance bill 2023 to Remove long-term tax benefits on debt mutual funds. The changes will be applicable to funds with less than 35% invested in equities. This will come into effect on April 1,2023, and gains on such debt mutual funds will be taxed at income tax rates as per an individual's income. READ MORE European banks fell 4.5% and were set for their third week of declines, after the failure of U.S. midsized lenders and the turmoil at Credit Suisse highlighted growing risks to banks in the wake of tightening financial conditions. Deutsche Bank slumped 11.1%, becoming the top loser on STOXX 600, after a sharp jump in the cost of insuring against the risk of default. A series of interest rate hikes from the Federal Reserve and other central banks in Europe this week also added to fears of tightening financial conditions even as the U.S. central bank signalled a pause in its hiking cycle. READ MORE READ MORE
I N A N C I A L FA P T I T U D E 13 Best performing companies in India under different industrial Sectors. 1.I am a Indian information technology company providing it and consultancy services, developed a ERP for the Indian Railways with the Tagline Experience Certainty? a) Infosys Ltd b) Wipro Ltd c) Tata Consultancy Services Ltd d) Mind Tree Ltd 2. I am the first Oriental life insurance company to offer life insurance coverage in India, I was found in 1818 who am I? a) HDFC Life Insurance Company b) Life Insurance Corporation Of India c) Bharti AXA Life Insurance company d) Bajaj Allianz Life Insurance company 3. I am the largest producer and exporter of iron ore in India , I was awarded with Corporate Social Responsibility Award Global Metals Award 2018 in the Corporate Social Responsibility category in London who am I? a) Hindustan Zinc Ltd b) National Mineral Development Corporation Ltd c) Coal India d) Vedanta Ltd 4. I am the largest private sector bank in India, I am the 10th largest bank in india in terms of market capitalisation I was awarded with Best Bank In India: Euromoney Awards for Excellence in 2022. Who am I? a) State Bank of India b) Kotak Mahindra Bank c) Axis Bank d) HDFC Bank 5. I am the number one construction company in India, I am the 4th largest construction company in the world, I was started by 2 Danish refugees and was ranked 2nd in the Top 25 EPC Contractors in 2022 who am I? a) Reliance Infrastructure Ltd b) Larsen and Toubro Ltd c) Ahluwalia Contractors Ltd d) AGI Infrastructure Ltd 6. I am India's Largest Automatic manufacturer, I was first founded as a Indian company later i become a Japanese company, later I developed India's most affordable car. Who am I? a) Maruti Suzuki Ltd b) Tata Motors Ltd c) Mahindra Ltd d) Renault India Ltd ANSWSER TO FEBRUARY EDITION 1.productivity 2. receipt 3. invest 4. borrow 5. royalty 6. interest 7. shares 8. stock exchange 9. loan 10. capital 11. expenditure 12. guarantee 13. merger 14. cash 15. refund 16. turnover 17. dividend
14 FINANCE L I G H T S CAMERA FINA Zee Entertainment likely to repay IndusInd $10 million to wrap Sony deal Zee Entertainment Enterprises Ltd (ZEEL) has likely agreed to repay dues owed to IndusInd Bank Ltd. as the company seeks to resolve insolvency proceedings initiated against it and inch closer to completing a merger with a Sony Group unit to create a $10 billion media giant. Dues of around Rs 837 million could be settled as early as Friday and the Mumbaibased bank has agreed to withdraw its insolvency proceedings against the media company once the repayment is made. READ MORE News broadcasters boycott e-auction by DD free dish News bodies News Broadcasters and Digital Association (NBDA) and News Broadcasters Federation (NBF) have decided to boycott the current DD Free Dish e-auction. They have dashed off a joint letter signed by their respective presidents to Information and Broadcasting (I&B) minister Anurag Thakur seeking his intervention in the matter. The news broadcasters have raised three key concerns. Firstly, they noted that the number of slots allocated to the news genre on DD Free Dish has been reduced from 14 in 2022 to just six this year. Secondly, they expressed worry that the altered auction methodology for DD Free Dish slots will allow entertainment broadcasters to bid for slots previously reserved for news channels. Lastly, they highlighted the lack of a scientific basis to determine the actual reach of DD Free Dish, which is an unencrypted platform. READ MORE READ MORE READ MORE READ MORE ESPN Star Sports gets a ₹752 crore tax breather In a breather for ESPN Star Sports, Delhi bench of Income Tax Appellate Tribunal (ITAT) deleted an addition of ₹752 crore to its income for the assessment year AY) 2014-15. Earlier, the company had declared income of ₹90 crore for AY 2014-15 and its income-tax return came under scrutiny. Thus, the assessing officer sought to make an addition of ₹752 crore to the company's income. Tax authorities claimed that this payment was royalty. ESPN Star Sports filed an objection to this. However, the panel upheld the decision of the assessing officer saying the live telecast of an event was an outcome of "scientific work" and payment thereof would be covered under the definition of 'royalty'. ESPN Star Sports appealed against the order before the Delhi bench of the ITAT and the bench has now directed the assessing officer to delete the addition. Viacom18 ropes in 13 streaming sponsors for IPL Viacom18 has signed 13 streaming sponsors including Dream11, Parle, ET Money, TVS, Puma, Mondelez, Kamla Pasand, ITC, and Pepsi, for the Indian Premier League (IPL) 2023. The company holds digital rights to the IPL and will be streaming all 74 matches of the tournament for free to all internet users on its JioCinema app. Apart from sponsors, the company has also roped in multiple spot buyers. Viacom18 is expecting close to over 500 brands to advertise during IPL live streaming. The sponsorship and ad deals closed by the company is worth ₹2,700 crore. "These ad deals are 1.5-1.6 times the ad revenue earned by Disney+ Hotstar from IPL last year," a top company official said on condition of anonymity. Pathan rockets YRF revenues Yash Raj Films (YRF) is expected to exceed its revenue from FY 21–22 and FY 19–20 in FY 2022-23 driven by the huge gross box office collection of Rs1047 crore despite its previous 3 releases underperforming, said the YRF CEO Akshaye Widhani. In FY 2021-22, the company posted a net profit of Rs 115 crore and Rs 61 crore respectively on operating income of Rs 614 crore each. He further stated that FY22 was also an anomaly for the company since a sizable amount of revenue accrued from catalog and licensing deals. Thus, in the film business, the Spy Universe will continue to be a big focus area for the company since all the films under this IP have done well.
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