FinXpress September 12 by FinNiche Imtg

Editorial S E P T E M B E R

CONTENT GDP GROWTH : SLOWEST IN 6 QUARTERS | 2

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There’s a lot that has happened in last couple of weeks and there’s something more interesting to happen in couple of weeks ahead. Summer Placement Week for the batch of 2016-2018 would be starting from next week. We would be seeing some of the high profile corporates and esteemed companies visiting the campus. A feeling of thrill and anxiety grasp all of us. With the practice interviews completed and some mock GD’s taken in DBY sessions we hope that each of every one of us knows which areas to work on. Club FinNiche would like to wish each and every one of you a very best of luck for Summer Placements.

Getting to the financial world, it all bustling with great news. Urjit Patel has taken the helm of RBI Governor last week. Markets are nearing all time high figures. GST has been ratified by more than half of the states and by the President. Former Governor Raghuram Rajan has warned the world to be precarious about negative and low interest rates, as it may lead to other depression in near future.

With all this and lot more, we bring you another issue of finXpress fully packed. Club FinNiche welcomes any comments, suggestions or criticism regarding the magazine. Please do write to us and share your ideas.

STARTUP TRACKER | 12 FINAPP | 14

Club FinNiche welcomes any comments, suggestions or criticism regarding the magazine.

FINWORD | 15 DID YOU KNOW | 16

Happy Reading!

FINQUIZZ | 17

Regards

LIFE @ IMT | 19 OUR SPONSORS | 20

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The Editorial Team Club FinNiche

NATIONAL N I D H I K U M A R S E P T E M B E R

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GDP GROWTH - “SLOWEST IN 6 QUARTERS” SNIPPETS GDP growth declines from 7.9 to

India’s Economic Growth decelerated to its

sorting

out

its

non-performing

asset

slowest level in six quarters making it

problem, creating a mix wherein credit

difficult for the government to achieve the

demand and disbursal both remain low.

7.1%

8% target . However, an imminent boost in

Increase in Con-

the consumption levels in expected mainly

sumption

on account of normal monsoon after two

However, the fiscal so far has been better

Decrease in Pvt. Investments

consecutive drought years and hike to

than the last year . April—July core sector

central government employees . Data shows

growth is at 4.9% compared with 2.2% at

that GDP has grown by 7.1% from 7.9% The

same point last year . The slowdown in

good news is that India still remains the

July was due to a broad based moderation

fastest growing economy with China having

except for refinery output that rose at

the growth rate at 6.7% .

13.7%. The increase in the manufacturing sector growth is indicating that the “ Make in India “ initiative is making its way .

The Higher GVA indicated that the

Livestock Products, Fisheries and Forestry

government subsidies were higher in this

which contributes to a large part for

quarter. The private consumption has

agriculture sector also grew for the June

contributed to 55% of GDP but the Gross

quarter. On the agricultural side, the

capital

the

growth numbers were low, as they came at

economy

the end of two years of failed monsoons.

formation

investment

which

demand

indicates the

continued to contract signaling no increase

Leading

the

agricultural performance in the coming

economy. What dragged down the growth

quarters would be much better .With the

in June quarter is not just the decrease in

government

private

poor

providing for MGNREGA and raising the

performance of certain industries like

minimum wage , it is expected that GDP

mining and construction. Manufacturing and

will rise in the coming quarters . It is

Electricity

private

investment activity

investments

sector

but

however

the

indicators

also

clearly

playing

show

its

part

that

performed

believed that to increase the investment

better . The service sector also received a

level in future , heavy lifting will have to be

boost because of increased expenditure by

done in the consumption expenditure .

the government . Finance and Real estate sector maintained a steady growth . However , Transport sector registered a

This highlights the fact that we are in a

decline. The private sector is still trying to

phase of slow recovery wherein growth has

deleverage, while the banking system is PAGE

likely stabilized over the seven per cent

mark and any improvement will be gradual. Going forward, growth is most likely to witness an uptick because of better agricultural performance coupled with an increase in private demand, increasing in

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spending capacity of people and on account of schemes like MGNREGA and MAKE IN INDIA. The government should now focus on bringing more reforms and improving the ease of doing business.

NATIONAL K R I S SHE AP N TT E MKBAEUR L 1 2 ,

Reliance Jio : An Overview SNIPPETS Welcome offer gives free unlimited 4G data access to users for the first three months Ambani claims Jio’s data plans to be the cheapest in the world at Rs 50 for 1GB The problem is that it’s really very hard to find a Reliance Jio SIM card

Reliance Jio, formerly known as Infotel Broadband Services Limited, is a Mumbai based provider of 4G internet, mobile telephony, broadband services, and digital services in India and was incorporated in 2007. Jio provides 4G services using the LTE technology on a pan-India level. On, 27th December 2015 the eve of the 83rd birth anniversary of late Dhirubhai Ambani, founder of Reliance Industries, Jio’s services were beta-launched to its partners and employees. Jio commercially launched its 4G services on September 5, 2016. Reliance Jio SIM card comes with a welcome offer, which gives free unlimited 4G data access to users for the first three months. However from January 1st 2017, users will have to pay for the Jio services. It not only includes benefits such as free voice calls and no roaming charges but also provides Jio customers free access to Jio premium apps such as JioChat, JioMusic, MyJio, JioMoney. Furthermore, Ambani claims Jio’s data plans to be the cheapest in the world at Rs 50 for 1GB. In comparison to Airtel’s 4G, which gives a speed of 10-20 Mbps and 3G, which gives a sub 2 Mbps speed, Jio offered a peak download speed of 70 Mbps during trials and on most occasions the speed was in the 15-30 Mbps range. Under Jio’s 4G service voice calls will be made on VoLTE (voice over LTE). VoLTE works perfectly fine and is interconnected with other mobile operators. The network operates on 1800 MHz and 2300 MHz bands in Mumbai. As specified by Jio, 20 Handset models across vendors will be able to support the VoLTE/4G. This includes Jio’s own LYF branded phones and specific models of Samsung, LG, Lenovo and ZTE.

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Salient features of Jio : 1) Offers lowest data rates globally and the best 4G network 2) Offers LYF devices starting at only Rs. 2,999/3) Offers Complimentary Jio Apps worth Rs. 15,000/4) Offers instant activations based on Aadhar card. 5) Offers free voice calling 6) Does not include complex telecom charges 7) Simple 4G Tariff Plans 8) Offers special discounts for students 9) Offers the country's first ever platinum 4G service Jio is not only about sunshine, it too has a dark side. The problem is that it’s really very hard to find a Reliance Jio SIM card. When Reliance Digital, Reliance Digital Xpress Mini, and third-party stores that sell Reliance Jio connections are approached for the Jio SIM card, they simply tell that the SIM cards are unavailable indefinitely. Reliance Jio was reached out a multiple times by Gadget 360 to learn about the nature of the delays, but there was no official response from the company. Also, most of those who were lucky enough to actually get the SIM have been waiting for days so that the card gets activated. The prepaid plan for 4G Reliance Jio starts as low as Rs 19 and goes all the way up to Rs 4,999, while the postpaid plans start at Rs 149.

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Tarrif plans of Jio

Prepaid :

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INTERNATIONAL S E P T E M B E R

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G-20 Concerns about Climate Change The eleventh meeting of G-20 summit was held on 4-5 September in the city of Hangzhou, Zhejiang. The first ever summit hosted by China was focused on delivering more inclusive economic growth through coordinated macroeconomic policy, open trade and innovation.

SNIPPETS First ever summit in China Paris climate agreement Fossil fuel subsidies

G20 was initiated in 1999 and consists of Australia, Argentina, Brazil, China, Canada, France, Germany, Indonesia, India, Italy, Japan, Mexico, Republic of Korea, Russia, Saudi Arabia, South Africa, Turkey, the United States, the United Kingdom and the European Union (EU). The purpose was to study, review, and promote high level discussions of policy issues pertaining to the promotion of international financial stability.

It played an important role in responding to the global financial crisis and strengthening the global financial architecture. Starting in 2009, the G-20 accumulated trillions of dollars in fiscal stimulus, helped in rebuilding confidence in the international financial system, and committed to prevent a retreat into protectionism and beggar-thy -neighbor policies. G-20 leaders also introduced reforms that have made international financial institutions more reflective of a changing world, including the historic 2010 IMF quota and governance reform package. The G-20 has initiated various steps to put in place financial regulations to prevent another financial crisis, enhance cooperation on tax issues and financial transparency, and tackle critical challenges like climate change and global health security

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In Hangzhou, G-20 leaders recognized that more work remains to expand opportunity, strengthen growth, and ensure the benefits of trade and open markets are widely felt. The G-20’s track record over the past 8 years has laid a strong foundation for further progress. President Obama restated the United States’ support for an open, integrated global economy, which is underpinned by a level playing field that gives workers and businesses a fair opportunity to compete. The leaders built significant steps they have already taken to address the issues of corruption, tax avoidance and other similar challenges that undermine the integrity of global financial system.

The major breakthrough from the summit was the formal ratification of the Paris Climate Change Agreement by USA and China, the world’s biggest emitters of the Greenhouse gases. US president, Barack Obama, on the eve of the G-20 summit, confirmed the long awaited move, the results of weeks of intense negotiations by Chinese and American officials. Obama said the joint announcement showed how the world’s two largest economies were capable of coming together to fight climate change. “Despite our differences on other issues we hope that our willingness to work together on this issue will inspire greater ambition and greater action around the world,” he said. The Paris agreement would ensure that nearly 200 governments party to it would need to cut the emissions to the required level and would also commit the countries

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to aspire to keep the temperature below 1.5C above pre industrial levels, a task which requires the countries to ramp up the pledge work and for the rich countries to continue supporting the poorer countries beyond 2020.

subsidies, promote renewables and improve efficiency standards for vehicles. While the steps taken by the governments of the 20 most powerful countries are towards the right direction but they failed to set deadlines for the same.

Another major discussion was to reduce the fossil fuel subsidies in order to meet Paris agreement targets. In developing countries, the researchers expect such policies to focus on reducing the carbon intensity of their economy as a whole, through drives to reduce fossil fuel

Ultimately, though, G20 success is a matter of perspective. For many, the 2016 G20 summit has fallen decidedly short on substance. For others, it continued the incremental business of global economic governance. For China, there is only one outcome: The G20 was a great success.

International S E P T E M B E R

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BoE and Brexit SNIPPETS Decision on bank rates next week. Inflation is expected to rise strongly soon. Bank is expected to cut rates again later this year

The Bank of England holds a monetary policy meeting next week as more hard economic numbers trickle in following June's Brexit shock, while U.S. data and a speech by policymaker Lael Brainard will give Fed-watchers food for thought. Data and surveys in the coming week will also give a steer on price and industry trends in the euro zone after the European Central Bank disappointed market expectations that it would announce an extension of its asset purchase program. Speaking to lawmakers on Sept. 7, Governor Mark Carney defended the BoE's big August stimulus package but said initial damage to the economy from Britain's June 23 vote to leave the European Union looked less severe than the Bank had forecast. While some critics of the BoE have suggested August's decision to cut interest rates to a record low 0.25 percent, restart asset purchases and ease lending by giving cheap loans to banks was too aggressive, the Bank is expected to cut rates again later this year but leave policy unchanged this month. "We see next week as being too soon for further action and expect the BoE to maintain Bank Rate at 0.25 percent and the level of QE (asset purchases) at 435 billion pounds ($578.5 billion), our central case continues to be for another 15 basis point cut in Bank Rate to 0.10 percent at the November meeting." Investec economists said. Official figures, including inflation on Tuesday, unemployment on Wednesday and retail sales on Thursday, should give a clearer picture of how companies and consumers are responding to the Brexit vote after purchasing manager surveys showed activity bouncing back last month. Economists have forecasted that consumer prices will be 0.7 percent higher in August compared with a year ago, edging up from 0.6 percent in July, which was the biggest annual rise since the end of 2014. But sterling's tumble since the Brexit vote means inflation is expected to rise strongly soon. The unemployment rate for the three months to July is forecast to stay at 4.9 percent -- an almost 11-year low -- while the number of people claiming jobless benefits in August is seen rising after a surprise fall in July. Monthly retail sales are predicted to have fallen in August after a jump in July, when consumers showed no immediate alarm at the Brexit vote. European Union leaders will meanwhile gather without British Prime Minister Theresa May to discuss Brexit and other issues. Thursday's euro zone CPI release is expected to show annual inflation was 0.2 percent in August, in line with the new 2016 forecast the ECB gave on Sept. 8. Markets are eyeing keenly the speech by Brainard on 12 th September, just before the blackout period starts for Fed officials before the Sept. 20-21 policy meeting. She is seen as one of the FOMC's more dovish members, so any hint of a more aggressive stance could see rate hike bets being put back on. "If the Fed wants to prepare the market (for a hike) then a generally dovish member of the FOMC like Brainard making hawkish statements would be an obvious way." said Morgan Stanley's head of European FX research, Hans Redeker,

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FinHumour S E P T E M B E R

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Market S E P T E M B E R

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Sensex witnessed an increase of 3.28% while Nifty grew by 2.93% over a fortnight starting from 26th Aug to 9th Sept 2016, on account of strong liquidity conditions globally amid lowered expectation of a rate hike by US Federal reserve and better macro-economic conditions in India as compared to other economies. BSE SENSEX TOP GAINERS

ONGC

However, Sensex and Nifty dipped on Friday (9 th Sept) as investors booked profits due to which Nifty corrected and settled below an important level of 8900. Also, testing of nuclear weapons by North Korea further dampened market sentiments. The market experts are hopeful that ongoing bull market will bring in more and more participants to make the market more resilient to external shocks.

GAIL Wipro TCS

Open

TOP LOSERS

High

Low

% Change 3.28

2.93

Sensex

(26th Aug 2016) 27882.75

29077.28

27696.99

(9th Sept 2016) 28797.25

Nifty

8614.35

8960.35

8547.55

8866.70

Hindalco Ultra Tech Cement Table: Opening and closing indices of last fortnight

Yes Bank Axis Bank

Figure: Sensex (BSE) movement for last fortnight

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Figure: Nifty 50 (NSE) movement of last fortnight

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Start Up Tracker S E P T E M B E R

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SecureNow SNIPPETS Independent price comparison website Various product categories Lead generator for big companies 100+ employees 12 million customers each month

SecureNow insurance broker private limited company is a private limited company. The company was founded by a very experienced trio: Kapil Mehta, Amit Sinha and Abhishek Bondia in February, 2011. SecureNow was incorporated as a result of resentment that founders underwent when they found disgruntled customers who had been misled insurances. The founders also have the vision that quality of insurance services sold in India is needed to be improved a lot, so they started SecureNow to boost this industry and promote the welfare of customers in this industry. SecureNow provides its service to both individual customers and corporates. To provide service to corporate side they leverage their in-house proprietary benchmarks and risk knowledge to have best prices for the corporates, thus enabling companies save lakhs of rupees. On the other hand for individual business their main focus is term and health insurance which are the fastest growing segments in the country (increasing at 40% per annum). Term and health insurance are highly underserved segments.

Management Team:-

Kapil Mehta

 An alumnus of IIT Delhi and IIM Ahmedabad

 Over 18 years of experience (>8 years in insurance)  Previously, was the MD of DLF Pramerica Life Insurance  Has earlier worked with Max New York Life Insurance, McKinsey & Company, and Hindustan Unilever Abhishek Bondia

 Rank Holder CA, CFA and alumnus of Shri Ram College of Commerce.  7 years of Insurance business advisory experience.  Last position was with McKinsey & Company, where he led over 20 members to deliver on client service. Revenue Generation and Marketing Model Main source of revenue for SecureNow is its commission from the sale of policies.it also work for fixed income instead of commission on the basis of customer requirement. Talking about marketing, Abhishek says, “Insurance is largely a push based product. Customers realize the value of Insurance once they have seen the adversity very closely.” Giving an illustration for this he mentions, “After the Satyam scam got exposed, the sales of Directors and Officers liability insurance suddenly spiked”.

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Products Offered

 Fixed Benefit Cover

Advisory Services offered related to

 Critical illness Plan



Life insurance



Health insurance



Vehicle Insurance

 Own Damages

 Mediclaim

 Third Party Damages

Value Proposition Particular Deliver Provide Insider Knowledge 30 Days TAT Wide Comparison Single Window Lowest Quote Easy Claims Custom Made Products Bundled Services

Description 20% Better Deals Than Other Sources Increased Convenience For Top Management Leverage Insider Knowledge To Source Value For Money Benefits Plan Efficiently With Our Pre-Defined Step-By-Step Deliverables And Timelines Compare Quotes From A Minimum 3 Insurance Companies Get Services Across Categories Through A Single Interface Avail Lowest Quote Using Our Wide Industry Relationships Ensure Proper Claim Documentation And Process Adherence Get The Product Matching Your Needs And Budget Enhance Value Of Assets Through Hand-Picked Value Added Services

Challenges SecureNow has an extremely competent core team and to find new talent matching the levels they expect is turning out to be a

challenge. The scope for this sector is

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humongous but increasing the reach is cost intensive. “Also, since the products they deal with are low-margin, it is necessary to keep acquisition costs low.” concludes Abhishek.

FinApp S E P T E M B E R

SNIPPETS

Kcast Gold Live App

Indformation about various sources of investment

Platform: Android, Windows Mobile

BlackBerry,

iOS,

Offered by: Kitco

Tracking gold in real time

Rating: 4.4 on Play Store,

Expert tips

Downloads: Over download and counting

thousand

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apps that track gold prices on a day to day basis, thus giving the common man access to the prices, trends and detailed analysis of the current trends in the value of gold. One such application is ‘Kcast Gold Live™’. Available on both android and iOS, it lets a user track the prices of various precious metals, especially gold and silver. It also provides the user with critical market trends, thus aiding one in taking informed decisions regarding their investments. The

Gold has long been considered one of the safest forms of investment by most financial gurus. Corporate Giants may rise and fall but gold has stood the test of time. Even the worst financial crisis that have hit the world economies have been unable to cause very big fluctuations in the gold prices.

noteworthy features of the app include

Tracking gold prices has been difficult for the common man as it changes every day and not easily understood by someone who isn’t involved in the financial markets on a day to day basis. However, with the recent advent of technology, especially the smart phone, PAGE

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

Push Notification



Quotes on prices of precious metals and other financial instruments



Support of multiple languages



Live updated gold prices



Current news and press releases



Support of multiple currencies



Tips from experts

FinWord S E P T E M B E R

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Zero Coupon Bond Snippets Zero Bond Also

Coupon

known

“Accrual Bond” Issued at a deep discount to its face value but pays no interest

Balloon Mortgage

Kind of short term mortgage “ B a l l o o n ’ pa y me nts are done, hence called balloon mortgage

Zero Coupon Bond, also known as ‘accrual bond’ is a bond that is issued at a deep discount to its face value but pays no interest. It doesn’t pay interest but is traded at a deep discount, giving profit at maturity. The bond is redeemed at its full face value. The difference between a zero-coupon bond and a regular bond is that a zero-coupon bond doesn’t pay coupons, or interest payments, to the bondholder while a typical bond does make these interest payments. Since it doesn’t have coupon, hence is called ‘zero coupon’. Zero coupon bonds can be short-term or long-term investments. Short-term zero coupon bonds, also known as ‘bills’ have maturity period of less than one year, while the long term zero coupon bonds have a maturity period of ten to fifteen years. The long term maturity date of a zero coupon bond can help an investor in preparing for a long term goal, like payment of a child’s college fees. With the bond’s deep discount, an investor can invest a small amount of money which can grow a lot in years. Prices fluctuate more in zero coupon bonds than in other types of bond in secondary markets as zero coupon bonds pay no interest until maturity. Moreover, although no coupon payments are to be made until maturity on zero coupon bonds, investors may still have to pay state and other local taxes accrued. However, to get a tax-exempt status or to find ways to avoid paying income taxes, purchasing a municipal or a corporate zero coupon bonds can be a good option.

Balloon Mortgage Balloon mortgage is a kind of financing mechanism where the payments are not fully amortized during the term of loan. It’s a kind of short-term mortgage. It requires the borrowers to make regular payments for a specific interval, and then pay-off the remaining balance within a relatively short time. Sometimes the borrowers need to need to pay only the interest on the loan. Since the loan is not fully amortized, the borrower needs to pay a large sum of money at maturity, and in some cases the full principal needs to be paid in order to close the loan. In other words, some types of balloon mortgages can be interest-only for many years, and the final ‘balloon’ payment to pay off the balance comes as one large installment at the end of the term. Hence it is called Balloon Mortgage. These mortgages have the option for early repayment or can be set up for a similar to a 30-year fixed-rate mortgage with the embedded option. The total debt repayment of these loans is lower than the conventional fixed-rate mortgages.

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Did You Know? S E P T E M B E R



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The note with the highest value printed by Reserve Bank of India was the Rs.10,000 note

in 1938.



The history of Wall Street dates back to the 1600s, when New York was called the New

Amsterdam settlement. Back then, before the bells and exchanges, it was merely a pathway that ran alongside a wall protecting the settlement from Native American attacks. In a moment of creativity, the citizens named the corridor "Wall Street."



The birth of modern banking is credited to the medieval Knights Templar. They took

oaths of poverty; therefore, donating all of their cash and property to the Order. Nobles often used the Order to safeguard their money while they were off fighting in the Crusades.



Cost of minting a ₹ 10 coin is ₹ 6.10



Zero rupee notes were issued by the NGO 5th Pillar to fight corruption.



According to the forecast of Asian Development Bank (ADB), Indian Economy is

expected to grow at 7.8 in the FY 2015 -16 and 8.2 in the FY 2016 -17



Services sector accounts for 52.97% of total India's GVA of 115.50 lakh crore Indian

rupees.



India's foreign exchange reserves were US$ 367.16 billion up to August 19, 2016, as

compared to US$ 365.82 billion

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FinQuizz S E P T E M B E R

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Which kind of bonds were in news recently to be used for aiming at boosting investment into Indiaâ&#x20AC;&#x2122;s infrastructure sector? A) Zero Coupon Bonds

B) Rupee Bonds

C) Masala Bonds

D) Junk Bonds

Which rank has India got in world bankâ&#x20AC;&#x2122;s 2016 logistics performance index? A) 33rd

B) 34th

C) 35th

D) 36th

What percentage of FDI under automatic route in brownfield airport projects is permitted in civil aviation sector? A) 49%

B) 74%

C) 50%

D) 100%

What does a bull market mean? A) A market characterized by rising prices for securities. C) Unpredictable market

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B) A market characterized by falling prices for securities. D) Predictable market

How many SEBI approved stock exchanges are there in the country? A) 20

B) 21

C) 22

D) 23

What does open Credit mean? A) It is a type of Installment Credit

B) Marking partial payments

C) The amount is due in full on a monthly basis

D) None of these

What do Basel III norms deal with respect to Indiaâ&#x20AC;&#x2122;s banking sector? A) Interest rates

B) Risk management

C) Infrastructure

D) CRR

Marketable securities are primarily A) Short term debt instruments

B) Short term equity securities

C) Long term debt instruments

D) Long term equity instruments

Which of the following marketable securities is the obligation of a commercial bank? A) Commercial paper

B) Negotiable certificate of deposit

C) Repurchase agreement

D) T-bills

10.

Which among the following is an appropriate investment plan for wage earners and unorganized workers?

A) Fixed deposits

B) Short term deposits

C) Long term deposits

D) Systematic investment plan

ANSWERS:

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1) C

2) C

3) A

4) A

5) D

6) C

7) B

8) D

9) B

10) A

Life @ IMT S E P T E M B E R

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These past few days have been quite happening in IMT Ghaziabad, launch of Passion’16, Deloitte Maverick north zone finals, 2016-18 batch fresher’s party. It has been a mix of fun frolic and management excellence.

The fun started with the fresher’s party for Batch of 2016-18. While the party was all about ice breaking there was a sense of excitement and jubilation all around.

On the same night Passion’16 was launched, our very own cultural fest. Just when you thought IMT was all about play, there was some management action.

Deloitte held its Maverick north zone finals, a combination of case study analysis, war of band, roll of the reel. This year IMT had its 2 teams in to the final 8 of the north zone finals, and we are proud to say that one team has made it to national finals. A day filled with fun n jubilant mood n music, the event also emphasized on the social side of the life – what we give to the society. We had two great stories of social contribution by students, motivating us on our way to give to the society. And then to end the event, we had the much awaited war of bands. Stringing out melodious music and the crowd humming to the tunes, a fantastic way to end a fantastic day. We thank Deloitte & Placement team for hosting the North Zone finals and for letting us be a part of it.

However not all was fun, we lost our sacred tree to safety reasons. This is life, we have our share of ups and downs and with renewed optimism we look forward to a new phase of being busy!

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