FinACE October 2021 - Edition 1

HIGHLIGHTS

Reliance floats subsidiary in United Arab
Emirates for trading in oil

Tata Sons to take over Air India, wins bid
at ₹18,000 crore; staff to be retained for
1 year

Mukesh Ambani: Asia's richest man to
launch 7-Eleven in India

Indian economy to grow at 9.1% in FY22
: FICCI survey

World food prices hit 10-year peak -FAO



ICICI Bank launches contactless
payment solution through iMobile Pay.
How to avail?

BCCI estimated to earn USD 12 million
profit from T20 World Cup

PANDORA PAPERS

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ISSUE 20 • OCTOBER 2021 • SUBSCRIBE

CONTENT 1 Teacher-in-charge 1
2 President / Vicepresident
3 Meet the team 2I

4 Corporate and startups 3

5 Social media entrepreneur 4N

7

6 Personal finance 8D

7 Financial facts you didn't 9
know
E10
8 India
9 World 11
10 Miscellaneous
11 Financial aptitude X13

14

" When you INVEST you are buying


"a day you don't have to work

TEACHER

IN

CHARGE

DR. RITA NAGPAL

Finanza, the finance society of With the very first edition
Dyal Singh College is a of the newsletter, I hope
voluntary group of students that our society creates
aiming to disseminate the best content for you
quintessential knowledge on to make it not only
finance and related aspects informative but also
through the conduct of its interesting and relatable.
activities throughout the year. Society promises to be
Since its inception in 2015, unfettered in efforts to
society has traversed a great make finance easy and
path to grow in size, scope and simple for you. With the
shape to make it more hope that these pieces
engaging for its members and help you enhance your
community. Members of knowledge, I wish that you
society have diversified have a pleasant reading
themselves in all manners. Be experience.
it organising multifarious
events or hosting regular
speaker sessions with eminent
personalities, the society has
managed to build a reputation
of its own.

1

ANANYA 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!

APOORVA TYAGI VICE-PRESIDENT

2

MEET THE TEAM ANANAYA Finanza is the wave of energy that gives me the
KHARBANDA adrenaline rush to work hard and take it to new heights.
It has given me a place not only to network with people
TEESHA but a family as a whole.
ARORA
Working with Finanza has given me ample opportunity
ANURAG to work with new agendas. It was a great experience to
TEWARI work with such an enthusiastic team. I look forward to
create some great memories with them ahead.
YASH
KULSHRESTHA It gives us immense pleasure to launch our very first
Newsletter. As a team, we've worked hard for it and
VARUN SONI have tried our best to keep it informative and succinct.

MANYA Finanza is not just a society, it’s a family which works
JUNEJA towards the betterment of community, students and of
course its members and this is the thing which makes
ANJALI the Finanza to stand out among all the other societies.
JAIN
Finanza is a nice group to be a part of. I've definitely
VANSHIT learned some new stuff here.
TYAGI
Being a commerce student, knowledge about the finance and
DEBROTO business world is important. I am happy to be part of the team
MANDAL of ‘FinACE’ which helped me learn and share with others the
monthly financial insights in the most minimal and precise
manner.

In times of college at home when nothing felt like being
in college finanza has made me feel like yes I was in
college finally. Working for it has given me so much
new learnings.

FinACE is a content factory to present the world in a
minimized format which will help you to stay over other
cards in a deck.

Finanza has not only helped me to become a “better version”
of mine but also provided me a platform to polish my skills, to
break my own limits and to showcase my talent and I think, It
was not possible without being a member of Finanza.

3

CORPORATE

&STARTUPS

Moody's raises rating outlook to stable for
18 corporates, banks, including RIL, SBI

Moody's Investors Service on Wednesday raised the
rating outlook for 18 Indian corporates and banks to
'stable' from 'negative'. The nine companies whose
rating outlook has been revised upwards are RIL,
TCS, Infosys, ONGC, Petronet LNG Ltd, UltraTech
Cement, Oil India, Indian Oil Corporation and
Hindustan Petroleum Corporation Ltd (HPCL) and
the nine banks are SBI, Axis Bank, Bank of Baroda,
Canara Bank, Axis Bank, HDFC Bank, ICICI Bank,

PNB, Union Bank and EXIM Bank. The agency also affirmed the rating on Bharat Petroleum Corporation
(BPCL), but maintained the 'negative' outlook. READ MORE

Tata Sons to take over Air The company owned by India’s Paytm is in talks with
India, wins bid at ₹18,000 Asia's richest person is set sovereign wealth funds and
crore; staff to be retained for to launch 7-Eleven financial firms to become
1 year convenience stores across anchor investors in its
India. upcoming blockbuster initial
Tata Sons has emerged as the public offering, according to
winner in the Air India bidding The retail arm of Mukesh people familiar with the
at ₹18,000 crore and will be Ambani's Reliance Industries matter.
taking over the debt-laden says it will open its first store in State-backed wealth investors
airline. The finance department Mumbai on Saturday. Abu Dhabi Investment
assured that there will be no The announcement of the Authority and Singapore’s GIC
sacking of the employees for a franchise agreement comes Pte are among those weighing
year. With this, the airline will just days after rival Indian bidding to participate in Paytm
go back to the Tatas who have retailer Future Group ended its IPO.India’s Paytm is in talks
a long history with the national deal with the US chain. with sovereign wealth funds
carrier. JRD Tata founded the The Texas-based 7-Eleven and financial firms to become
airline in 1932 and it was at that chain has more than 77,000 anchor investors in its
time called Tata Airlines. stores in 18 countries around upcoming blockbuster initial
the world. READ MORE public offering. READ MORE
READ MORE .



4

CORPORATE

&STARTUPS
Blackstone has acquired VFS Global, the
world’s largest visa processing service provider
from Swedish private equity (PE) firm EQT
Infrastructure in a $1.1-billion deal, pinning hopes on
global travel rebound.
Blackstone will hold a 75 per cent stake in the
company; the balance will be held by EQT and Kuoni
and Hugentobler Foundation.

Founded in Mumbai in 2001, VFS serves over 60
governments through 3,500 visa applications in over
140 countries. READ MORE

Cloud kitchen startup Reliance New Energy Revival plans:
becomes third Indian Solar acquires REC Solar
unicorn this week Holdings for $771 million Promoters may

Rebel Foods Pvt has "Reliance New Energy Solar invest Rs
become at least the third Ltd (RNESL), a wholly-
Indian startup to achieve a owned subsidiary of 10,000 crore in
billion-dollar valuation this Reliance Industries Ltd
week after securing $175 (RIL), has announced Vodafone Idea, says govt
million in a funding round led acquisition of 100 percent
by the sovereign wealth shareholding of REC Solar The promoters of Vodafone Idea –
fund Qatar Investment Holdings AS (REC Group) Vodafone Plc and the Aditya Birla
Authority. from China National Group – have assured the
Bluestar (Group) Co Ltd., for government that they would put
The startup will focus on an Enterprise Value of USD equity capital into the company,
growing its international 771 million," Reliance New officials in the Department of
presence, building its Energy Solar said in a BSE Telecommunications (DoT) told FE.
ordering and delivery filing.
technology and acquire READ MORE
more restaurant brands.
Debt-ridden
IL&FS
statutory
auditor SRBC
& Co resigns

READ MORE READ MORE "M/s SRBC and Co. LLP will be
ineligible to continue as auditors
of the Company for the financial
year 2021-22 beyond September
30, 2021 having completed audits
for three years," IL&FS said in a
stock exchange filing.

READ MORE

5

CORPORATE

&STARTUPS
HDFC Bank eyes strategic investor in NBFC
arm, sees $9-bn valuation


Months after shelving plans to list its non-banking
subsidiary, HDB Financial Services, HDFC Bank has
initiated a formal process to rope in a strategic
investor, said people aware of the matter.

The country’s largest private lender has appointed
Morgan Stanley to handle this and feelers have gone
out to global banks and domestic financial
institutions already. READ MORE

Reliance floats subsidiary in Andreessen Horowitz's first
United Arab Emirates for India bet makes CoinSwitch
trading in oil Kuber a unicorn
Mumbai | Bengaluru: CoinSwitch
Reliance Industries has
incorporated a new subsidiary
Kuber, a cryptocurrency platform
in the UAE for trading in crude
oil, petroleum products and for retail traders, has raised $260 million in what is the largest funding
agricultural commodities. round by any crypto company in India.
Reliance International Ltd has The fundraising was co-led by Silicon Valley-based venture fund
been incorporated as a wholly- Andreessen Horowitz and Coinbase Ventures, the corporate venture
owned subsidiary in Abu Dhabi arm of Nasdaq-listed Coinbase Inc. While Andreessen Horowitz has
Global Market, the United Arab pitched in $80 million, Coinbase Ventures has invested $150 million in
Emirates (UAE), the firm said in the current round. READ MORE
a stock exchange filing.
Indian Bank picks up 13.2%
READ MORE stake in National Asset
Reconstruction Company

Indian Bank on Friday said it has
picked up 13.27 per cent stake in
the proposed bad bank National Asset Reconstruction Company Ltd
(NARCL). The lender has subscribed to 1,98,00,000 equity shares of
NARCL for cash consideration of Rs 19.80 crore, it said in a regulatory
filing. READ MORE

6

SOCIAL Paving her way
through social media,
MEDIA she continues to
inspire and connect
ENTREPRENEUR many with the world
of finance and thus
CA Rachana Padhke Ranade is a true leader doing her part in
whose aim is to improve financial literacy in India achieving the aim of
and to enable people to learn about finance in the improving financial
most simplified way. She is at present one of the literacy.
most renowned and authentic financial vloggers
in India with an ever growing social media
community. Her inspirational journey is depicted
in this timeline below but the powerful impact of
this journey on the community she has build is
limitless.

TIMELINE

2002 - Completed her high school which
marked the beginning of her bright career.

2008 - Became a chartered accountant



2010 – Was a finance lecturer in some reputed
faculty for 3 years .She was a part of audit
faculty for CA IPCC and CA Final till 2015 and
has gained 10 years of experience in auditing.

2015 - Started her YouTube channel ‘CA
Rachana Phadke Ranade’ where she posts
content regarding stock market, finance,
business models of big brands, marketing
strategies etc.

2018 - Founder of Rachana Ranade and
associates

2021 - Has now more than 4 million subscribers on her YouTube Channel and almost 400k
followers on Instagram and continue to increase her social media community by attracting every
type of audience towards her quality content. She has truly proven the statement, “Don’t use
social media to impress people; use it to impact people”

7

PERSONAL
FINANCE

Simply speaking, personal finance means the
way you manage your money and plan your
finances for your future. It may sound
intimidating as it essentially determines how
you'll survive in the future, but you should take
your time to budget your incomes and
expenses as per your future goals.

Here are 5 rules that might help you get started:

Crunching Numbers
You need to evaluate what’s coming in and what’s going out of your wallet. Examine your
transactions and plan them according to your long and short term goals.

Manage lifestyle inflation
Lifestyle inflation means the increase in expenditure with a corresponding increase in
income. Spending more as you progress in your career is only fair, but keeping it in check is
key to actually being able to increase your net worth with an increasing salary.

Needs and Wants
Spending on things you need rather than things you want is always a good spending habit.
Lines may get blurry between the two, but picking out extravagant purchases is fairly easy.
For example, a car might be a necessity, but an expensive SUV is most certainly not.

Start saving early
Start saving early: Starting to save in the earlier years of life will help you harness the power
of compounding. In other words, the profit/interest you earn from your money will get
reinvested overtime and will keep on expanding, assuming everything else goes fine, and
hence grows substantially.
Maintain an Emergency fund
Medical bills, house maintenance, car repairs, these expenses come out of nowhere and leave
a hole in your pocket. Maintaining an emergency fund caters to such unexpected expenses.
Keeping at least 6 month’s salary for emergencies is a healthy habit, after all, you never
knows whats coming at you.




8

1. The Infosys Technologies IPO was 6. Mad rush for Mastergain 92
undersubscribed


The Infosys IPO that came out in June 1993 Prospective inve
stors slept outside the offices of
and priced its shares at Rs 95 apiece was UTI to collec
t the application forms for
undersubscribed. Morgan Stanley bailed it out Mastergain 92 when it was launched in the midst
by picking up 13% of the equity. The stock of a stock market boom in 1992. It made its debut
listed at Rs 145, a listing gain of over 52%. Rs as a close-ended fund with 65 lakh investors, a
9,500 invested in the IPO is now worth over world record for any equity fund.
Rs 2 crore along with almost Rs 20 lakh in
dividends. 7. Apple’s market cap is higher than entire BSE
500 companies
2. 97.75% was the highest income tax slab! FINANCIAL Apple Inc’s market cap was more than Rs 164
FACTS lakh crore in 2020. This is more than the
In 1970-71, income tax was spread over 11 YOU combined market cap of BSE 500 companies and
slabs with the highest bracket attracting 85% DIDN'T twice as big as that of the 30 share index. Since
tax. Combined with a surcharge of 15%, the KNOW 24 August 2019, Apple shares have more than
marginal rate of income tax reached 97.75%! doubled in value from $212 to more than $500.
Over the past fifty years, the tax slabs have
reduced to 3 with the maximum bracket 8. 2020 saw highest-ever public equity
attracting 30% tax. fundraising

3. Tax rates on gold depend on investment The calendar year 2020 saw an all-time high fund
vehicles! raising through the public equity markets at Rs
1,77,468 crore, despite being overshadowed by
The yellow metal held in physical form or the pandemic. This was 116% higher than that of
through gold funds attracts long term capital calendar 2019. This included IPO, QIP and OFS
gains tax (LTCG) of 20% with indexation, while proceeds.
gold bonds do not attract any LTCG if held till
maturity. However, the tax rate for such bonds 9. Anil Ambani was once richer than brother
is 10% without indexation if sold before Mukesh
maturity.
For a brief period in 2006, a year after the Ambani
4. Warren Buffett’s net worth at age 52 was brothers split their wealth, Anil Ambani’s net
only 0.3% of current value worth was higher than Mukesh’s by about Rs 500
crore. However, Mukesh soon raced past his
Warren Buffett, considered as the world’s most brother. In 2007, Forbes pegged Mukesh’s wealth
successful investor, made 99.6% of his $87.5 at $49 billion and Anil’s at $45 billion. Mukesh’s
billion fortune after the age of 52. As much as wealth is now $74 billion while Anil says his net
$72 billion of his wealth came after he turned worth is zero. In the past 13 years, Mukesh’s
65. He started investing at a tender age of 11 wealth has increased by an average $61 per
and fi led his taxes for the first time when he second while Anil lost $110 per second.
was 13.
10. Tax rules didn’t encourage too much
5. A month to settle trades investment in equities or for retirement
When shares
were traded in physical
form in the 1980s, the settlement of Under Section 88, the tax deduction for
stock trades could take more than a investments in ELSS funds was capped at Rs
month. After the introduction of 10,000 a year. The cap discouraged investors
electronic matching engines in the from putting too much in equities. Even
mid 1990s, the process of settlement contributions to pension plans were capped at Rs
was reduced to 14 days. Now the 10,000 a year under Sec 80CCC. These sub limits
same process takes two days. were removed when Section 88 was replaced by
Sec 80C in 2005.

9

INDIA

RBI cuts FY22 inflation forecast to 5.3%

The Reserve Bank of India on Friday cut the FY22 inflation
forecast to 5.3% from its earlier estimate of 5.7%. Edible oils,
fuel, LPG, and medicine prices are driving inflation rate,
Governor Shaktikanta Das said while announcing the monetary
policy. Though Das cautioned that unseasonable rains and
adverse weather events could pose risks to vegetable prices.

READ MORE

Transfer Money Without Ice cream parlours to RBI raises IMPS limit
Internet: RBI Announces Retail attract 18% and cloud from ₹2 lakh to ₹5 lakh
Digital Payments for Offline kitchens 5% GST: CBIC to promote digital
Users transactions
Ice creams sold by a parlour or such outlets will
Reserve Bank of India Governor, attract 18 percent Goods and Services Tax (GST), the IMPS provides 24x7 instant domestic
Shaktikanta Das, on Friday announced a CBIC said on Wednesday. funds transfer facility and is accessible
new scheme on retail digital payments In two sets of circulars, the Central Board of Indirect through various channels like internet
solutions in the offline mode. Taxes and Customs (CBIC) clarified on issues raised banking, mobile banking apps, bank
“A scheme to test technologies that enable by trade and industry on rates changes related to 21 branches, ATMs, SMS and IVRS..
digital payments even in remote places goods and services, the decision of which was taken In a bid to promote digital transactions,
where internet connectivity is either at the 45th GST Council meeting on September 17. the Reserve Bank on Friday proposed to
absent or barely available was announced increase the per transaction limit from ₹2
in August 2020. Given the encouraging READ MORE lakh to ₹5 lakh through Immediate
experience gained from the pilot tests, it is
proposed to introduce a framework for India’s unemployment Payment Service (IMPS). READ MORE
retail digital payments in offline mode rate falls sharply in
across the country. This will further expand September to 6.86%: Indian economy to
the reach of digital payments and open up CMIE grow at 9.1% in
new opportunities for individuals and FY22 : FICCI survey
India’s unemployment rate fell sharply in
businesses.," he said. READ MORE September to 6.86% as against 8.32% in Growth remains a clear priority for RBI and
August as 8.5 million additional jobs were the same has been clearly communicated
created last month with the majority of them in the past rounds of monetary policy
created in rural India with construction activity announcements. The GDP numbers for Q1
picking up pace, the Centre for Monitoring of 2021-22 did report a robust y-o-y
growth which was backed by a low base.
Indian Economy said. READ MORE However, on a sequential basis a

contraction was reported.READ MORE

10

WORLD

World food prices hit 10-year
peak -FAO

PARIS, Oct 7 (Reuters) - World food prices rose
for a second consecutive month in September to
reach a 10-year peak, driven by gains for cereals
and vegetable oils, the United Nations food
agency said on Thursday. READ MORE

'Pandora Papers': Leaked records reveal financial secrets of world leaders, politicians
Hundreds of world leaders, powerful politicians, billionaires, celebrities, religious
leaders and drug dealers have been hiding their investments in mansions, exclusive
beachfront property, yachts and other assets for the past quarter-century, according
to a review of nearly 12 million files obtained from 14 different firms located around the

world. READ MORE

Deloitte said to be under investigation over Essar Oil audit
Deloitte is reportedly under in
vestigation over its auditing of Essar Oil UK, the owner of
the Stanlow oil refinery. According to the Financial Times, the investigation was
prompted by a complaint in August. It said the Institute of Chartered Accountants in
England and Wales (ICAEW) has begun looking into whether Deloitte should have

raised its concerns about Essar Oil UK’s governance earlier than it did. READ MORE

Energy prices: Significant rises to come, says regulator Ofgem
Households will again see "significant rises" in energy prices next spring, regulator
Ofgem has warned. Its chief executive, Jonathan Brearley, said the price cap, which
limits how much energy providers can charge per unit, would go up again because of
the "unprecedented" rise in gas prices.

The cap is revised twice a year and is next due to be changed in April. READ MORE

11

WORLD

World food prices hit 10-year
peak -FAO

PARIS, Oct 7 (Reuters) - World food prices rose
for a second consecutive month in September to
reach a 10-year peak, driven by gains for cereals
and vegetable oils, the United Nations food
agency said on Thursday. READ MORE

'Pandora Papers': Leaked records reveal financial secrets of world leaders, politicians
Hundreds of world leaders, powerful politicians, billionaires, celebrities, religious
leaders and drug dealers have been hiding their investments in mansions, exclusive
beachfront property, yachts and other assets for the past quarter-century, according
to a review of nearly 12 million files obtained from 14 different firms located around the
world. READ MORE

Deloitte said to be under investigation over Essar Oil audit
Deloitte is reportedly under in
vestigation over its auditing of Essar Oil UK, the owner of
the Stanlow oil refinery. According to the Financial Times, the investigation was
prompted by a complaint in August. It said the Institute of Chartered Accountants in
England and Wales (ICAEW) has begun looking into whether Deloitte should have
raised its concerns about Essar Oil UK’s governance earlier than it did. READ MORE

Energy prices: Significant rises to come, says regulator Ofgem
Households will again see "significant rises" in energy prices next spring, regulator
Ofgem has warned. Its chief executive, Jonathan Brearley, said the price cap, which
limits how much energy providers can charge per unit, would go up again because of
the "unprecedented" rise in gas prices.
The cap is revised twice a year and is next due to be changed in April. READ MORE

12

MISCELLANEOUS

ICICI Bank launches BCCI estimated to earn
USD 12 million profit
contactless payment solution from T20 World Cup

through iMobile Pay. How to The Emirates Cricket Board (ECB) will get USD 7 million for
hosting 39 games in the United Arab Emirates and Oman
avail? Cricket (OC) will be paid a hosting fee of USD 400,000 for
staging six first round games of the ICC Twenty20 World Cup
Mumbai: ICICI Bank today announced in Muscat over the next 50 days while the Board of Control for
the launch of a contactless payment Cricket in India (BCCI), the designated hosts of the global
service through its banking app, championship, will have a surplus of USD 12 million. This is
iMobile Pay, that enables customers to according to a BCCI estimate that it informed its Apex Council
tap their smartphones to pay at POS
(Point of Sale) machines of merchant members about recently. READ MORE
outlets. The service offers improved
convenience to over 1.5 crore debit and DoT slashes bank
credit card customers of the Bank as guarantee requirement
they will no longer need to carry their for telcos by 80%
cards for payments at retail stores.
Based on the Near Field The department of telecom has revised the bank guarantee
Communications (NFC) technology, the requirement for telecom operators to 20%, effectively
innovative payment service empowers slashing the requirement by almost 80%, a notification by the
customers to create digital versions of regulator said. This decision will result in higher cash flows for
their physical ICICI Bank debit and telcos like Vodafone Idea and Bharti Airtel. It will also give
credit cards on the iMobile Pay app. more leeway for banks to lend more to the debt-ridden
Using the digital cards, customers can
initiate electronic payments at companies in the future. READ MORE
merchant outlets from NFC enabled
Android smartphones by just waving Credit Card
their phone near a contactless POS Transactions Are
device. READ MORE Bouncing Back

While the credit card spends in India saw a big dip in usage
during the pandemic period of the last 18-months, there is an
upswing now reveal the latest set of data set. The biggest sign
of encouragement is the Average Ticket Size (ATS) has shown
a steady increase and is up 25 per cent from pre-pandemic

levels of January last year READ MORE

13

FI N A N C I A L

APTITUDE
ANSWERS 1.A number used by banks and 11. process of allocating the cost of ANSWERS

other financial institutions to an intangible asset to expense over

measure a borrower’s credit its estimated useful life.

1.FICOscore 2.NETWORTH 3.CAPITAL GAINS 4.REBALANCINGworthiness.12. merchandise a company owns
5.AMORTISATION 6.ESCROW 7.STANDARD DEDUCTION
8.UMBRELLA INSURANCE 9.BUDGET PLAN 10.VARIABLE EXPENSE2. The difference between yourand expects to sell in its normal
11.AMORTISATION 12.INVENTORY 13.FINANCIAL PLAN 14.DISPOSABLE
INCOME 15.BUDGET 16.FINANCIAL AID PACKAGE 17.GRACE PERIODassets and liabilities.operations.
18.MERIT BASED AID 19.COMMERCIAL LOAN 20.LIQUIDITY
3. The increase in the value of an 13. An orderly program for

asset or investment — like a stock spending, saving, and investing the

or real estate — above its original money you receive.

purchase price. 14. Money you have to spend as you

4. The process of buying or selling wish—after all required taxes and

securities over time in order to deductions.

maintain your desired asset 15. A(n) _________ is an organized plan

allocation. whereby you match your expected

5. This is the process of paying off income with expenses and savings.

your debt in regular installments 16. A collection of different types of

over a fixed period of time. financial aid from multiple sources.

6.An account held by an impartial 17. A set amount of time after you

third party on behalf of two parties graduate, leave school, or drop

in a transaction. below half-time enrollment before

7.A standard amount that can be you must begin repayment on your

used to reduce your taxable income loan.

if you decide not to itemize your 18. Some money for college is

deductions. awarded without regard for

8.A type of policy that provides financial need.

additional liability coverage beyond 19. A loan to a company to finance a

what your home, auto or boat wide array of business purposes—

insurance may provide. from short-term inventory

9.A spending plan for managing financing to long-term investments

money during a given period of in equipment.

time. 20. The ease with which an

10. Costs that change in amount investment can be converted into

each time they are paid. cash.

14

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