Finxpress january 3, 2017

FinXpress January 3rd, 2017

Algorithmic Trading Unravelled Impact of Demonetization on Economy till date China Reeling under the Trump effect?

Falling of a major Domino

EDITION XVI . 11

A FinNiche Initiative

EDITORIAL

- SHUBHAM ARORA

“Genius is one percent inspiration, ninety-nine percent perspiration.” – Thomas Edison The latest issue going on in the country is 'A smarter India' - ideas that will make India a smarter country over the next 25 years in the areas of governance, infrastructure, transportation, agriculture, finance, healthcare and workplace. E-governance is the watchword in Andhra Pradesh and Telangana, both of which have launched unique digital initiatives. By 2025, most vehicles are expected to drive themselves, with the man in the driver’s seat doing little or nothing. Find out more in Going Places.

India, the world’s fastest growing economy, is gearing up for a digital payments revolution and is developing infrastructure that will pave the way for a less-cash economy. This issue also carries the opinions of Amitabh Kant and top officials and economists, who try to make sense of what the country would look like after the government's demonetization gamble.

Talking about IMT, it is as usual abuzz with Exams ending for both first and second year students and lots of trips planning’s going on, we hope all of them turn out to be successful Ones.

Club FinNiche welcomes any comment, suggestions or Criticism regarding the magazine. Please do write to us and share your ideas.

Happy Reading!

The Editorial Team Club FinNiche @ IMT Ghaziabad Facebook page: https://www.facebook.com/FinNiche/? fref=ts

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CONTENTS Impact of demonetization till date 2 Algorithmic Trading Unravelled 4 China Reeling under Trump Effect 6 Falling of major Domino 8 Fin-Humour

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Market

11

Start-up Tracker

12

Fin-App

13

Fin-Word

15

Did you know

16

Fin-Quiz

17

Life @ IMT

19

Our FinXpress

20

Sponsors

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NATIONAL

Impact of Demonetization on Economy till date

- ADYA JHA

Demonetization saw both positive and negative impacts on the economy in the short run —— Positive impacts include increase in digital payments and lower inflation —— Negative impacts include slowdown in GDP growth rate, cash crunch, etc.

On November 08, 2016, Prime Minister Narendra Modi announced a major reform aimed at tackling the black money available in the economy and the elimination of fake currency from the circulation.

Notes of Rs 500 and Rs 1000 were declared not to be legal tender from the midnight. The move saw a lot of praise as well as criticism from various quarters. Frequent changes in rules regarding withdrawal and exchange of notes have only added to criticism. The move was aimed at long term benefits for the economy, but it has started showing short term impacts as well (both positive and negative). Some of the impacts of demonetization on the Indian economy are discussed below:  Cash crunch in the economy: Since 86% value of the cash available in the economy was demonetized, there has been a major cash crunch after that. The major part of economic activity is paralyzed because of this.  Lower Inflation: WPI Inflation has decreased from 3.39% on November 15, 2016 to 3.15%

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on December 14, 2016. CPI inflation was also at a two year low at 3.63% in November, 2016 after a 4.2% rise in October, 2016.

Increase in digital payments: Due to the current cash crush, there has been a huge increase in digital online payments and the payments through credit and debit cards. Per government there has been an increase of 400-1000% increase in digital transactions after demonetization. Transactions on e-wallets have increased from 17 lakh per day to 63 lakh per day and value of transactions has increased from Rs 52 crore to Rs 191 crore. Similarly, volume of transactions using RuPay card has increased from 3.85 lakh per day to 16 lakh per day and value from Rs 39.17 crore to Rs 236 crore. UPI transactions volume is up from 3721 per day to 48,000 per day and value of Rs 1.93 crore to Rs 15 crore. It is a credible mode of transaction leading to decrease in transactions from unaccounted sources.

A move towards cashless economy: Owing to

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NATIONAL

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the increase in digital payments and card transactions, the economy has shown a very positive movement towards a cashless economy. Suddenly one can see even the local vegetable vendors accepting online cash wallets like PayTM as a mode of payment. It indeed is a huge success as it has made people to look towards and understand the importance of other modes payment.

Continuous slide in Sensex: There has been continuous slide in Sensex after demonetization. BSE Sensex has fallen more than 1600 points (more than 9%) after demonetization. It shows that market has not taken the step very well and needs some more good news to recover.

Impact on real estate sector: Per a report 30% of the transactions in the real estate sector occur through black money. Hence, real estate seems to be badly hit from demonetization.

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Since a salaried tax payer has always been a victim of this, it comes as a relief for such people who have been worst affected by skyrocketing prices. Per estimates, there can be a fall of 25%-50% in the real estate prices in the next six months. Early trends from various cities have already started showing the impact.

In cities like Chandigarh, real estate prices have crashed by up to 50% at some places after demonetization.

Slowdown in GDP growth rate: Per Credit Suisse, more than 90% of consumer purchases happen through cash. Due to demonetization, there has been a cash crunch in the economy leading to the slowdown of the economy. GDP Growth rate is expected to decrease by 0.5% in the second half of FY-17 from the first half of FY-17. The GDP growth rate estimate for FY-18 has been decreased from earlier estimate of 7.3% to a new estimate of 5.8%.

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NATIONAL

ALGORITHMIC TRADING UNRAVELLED

- UTKARSH SUREKA

Algorithmic Trading is done through Automated Trading Systems ——— Trades are made as per parameters that are pre-programmed in the system ——— Eliminates the human element from trading making it much more efficient

The Stock Market, a beast that every business school student hopes to tame someday. The Bombay Stock Exchange (BSE), among one of the oldest stock exchanges in the world, started trading in the year 1875. The National Stock Exchange is much younger, and was opened for trading in the 1992, but far surpasses the BSE in terms of trading volume.

The Stock Market seems like the easiest way to make money. Profits can be booked on a daily basis and the rush of trading is as addictive as any substance. However, the phrase ‘The Bigger They are the Harder They Fall’ is very much applicable here as well. You could enjoy months of success at the stock market, but one bad day could leave your ledger deep in the red.

Times are changing at a rapid pace today. Gone are the days when trading was done on the open floor. Trading in the Indian Stock Markets was taken online in the year 1995. And as technology has progressed, so has the ways in which trading is conducted. Today all the information one needs about any stock traded on any Stock Exchange in the world is available at the few taps on a screen.

This has helped an investor take much more informed decisions.

One of the biggest changes that has happened in trading since the advent of technology is Algorithmic Trading. Algorithmic Trading is the method of executing orders that are too large to execute manually, by using automated pre-programmed instructions on the basis of variables such as time, price or volume. The system sends out small slices of the order into the market over a period of time so that an

excessively large order is not carried out at the same time and it saves the hassle of keeping a constant vigil on the price of a particular stock.

However, Algorithmic Trading is also used in place of the term Automated Trading System or ATS. ATS is the method of trading by which the orders are created and executed by a pre-written program. This method of trading eliminates the human element in trading, thus curbing factors such as error in judgement or mistiming.

In the case of an Automated Trading System, certain guidelines can be programmed into the system on the basis of which the trades are executed. These guidelines can either be taken from a set of default guidelines, also known as wizards that are provided by the various ATS software’s available in the market. However, these guidelines can also be customized by the trader.

Advantages:  Automated Trading Systems have several advantages. The first and biggest advantage is the fact that they minimize emotions. Humans under pressure often take emotional instead of rational decisions. An ATS however, does not succumb to pressure. All the decisions taken are purely logical and on the basis of the guidelines that are pre-programmed into the system.  A second advantage of the ATS is that it allows for back testing. The previous records of the market can be studied to test the viability of the parameters that are given to the system to conduct trades.

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NATIONAL

Beside these advantages of ATS, other advantages include the timely submission of trades and achievement of consistency in the kind of trades that are conducted and diversified trading. When human traders notice a spike in the prices of the stocks of companies of a certain industry, they tend to invest predominantly in that industry.

However, this is a poor strategy as a hit to the industry due to any reason can cause huge losses.

An ATS maintains a diversified portfolio as per the parameters that are given to it. This prevents losses due to non-diversity in the portfolio.

ATS is not without its drawbacks though. A mechanical failure in the software can cause problems that may even lead to huge losses to investors. The stock market involves big money and crores of rupees change hands in the BSE and the NSE every day. An outage in such an ATS could spell disaster for investors.

As technology has progressed, cyber-crimes have become an increasingly serious threat to the world. ATS’s are an online system and are connected to the internet and this makes them vulnerable to cyber-terrorists. If and when someone manages to break into such a system, the financial losses to investors could be unpresented.

We see that as times are progressing and machine thinking is fast becoming the way the world is going, ATSs are the way to go. The biggest hurdle in the way of a trader or an investment banker are emotions. The human factor, if eliminated, can make trading a lot more efficient. However, till these systems can be made completely secure, human vigilance is unavoidable. But it is evident that if the parameters are set correctly, ATS can lead to consistent and long term gains. Short term intraday trading is not somewhere these systems can be applied.

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INTERNATIONAL

China Reeling under the Trump effect?

Shenzhen doesn’t think so

- AMAN ANAND

Renegotiating NAFTA ——— USA, a manufacturing hub——— Special Tariffs for Chinese imports ——- Foxconn Technology manufacturing for Apple

With Donald Trump ascension to the White House, a lot of people are perplexed as to its impact on the International and National Economic landscape. In the past too we have had leaders who have made audacious claims in order to influence the public. Most of the times these lies/claims weren’t executed later on or a very watered down version of them was presented to the public. But in some cases, these leaders do actually believe the lies that they themselves told. And herein lies the problem of Donald J. Trump.

For a man known for his unpredictable (and often hilarious) statements, there is very less which could be said for certain pertaining to his actions. However, following the trend seen by

his insistence of renegotiating the NAFTA, one can only wonder what his plans are for China. To refresh your memory, Trump claimed that the Chinese are “manipulating” world trade and he aims to make US the manufacturing hub it was, so many decades ago. He went on to claim that he would even force Apple Corp. to make its products right in the US. He plans to set special tariffs in place for Chinese imports to make them less competitive than the products made on the American soil. Being threatened by the leader of the free world might shake any industry to its foundation but it’s no underdog we’re dealing with here. China’s Industries in the past 4 decades have established themselves as extremely resilient in the face of adversity and it seems that for them, this too will pass.

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INTERNATIONAL

Talks about China’s Industries would not be complete without talking about Shenzhen, China’s biggest manufacturing hub. Once a small village, it has grown astronomically to a scale which defies human imagination. Sprawling skyscrapers stand on places that earlier used to host small time cloth manufacturing units and factories stand on erstwhile farms. Shenzhen’s growth has been fueled not only by governmental backing but due to an organized effort to evolve China into the biggest electronic manufacturing hub. This has been possible by establishing a network of specialized Universities that regularly roll out talented individuals that specializes in design, manufacturing, marketing and so on. This coupled with dedicated raw material hubs, in and around the city makes it the perfect place to set up shop if you plan to manufacture any product. The fact that Foxconn Technology, which manufactures for giants like Apple and Samsung has 2 factories and some 230,000 workers here is testament to the strength of Shenzhen’s manufacturing powers.

Huawei Technologies Co., which is China’s leading homebred mobile firm too has its base in Shenzhen. Other American firms like GM and Daimler are also getting into strategic partnerships with Chinese firms to take the location advantage of China.

Now addressing the issue at hand, does Mr. Trump’s threats have any teeth to them? Well according to a lot of experts, even after the proposed tariff, the Chinese made products would still be cheaper than their American counterparts.

“We are very relaxed about all the talk of tariffs, although the noise it creates is not good,” claimed a senior executive at a global consumer electronics firm with operations in Shenzhen.

With labour rates on the rise, the issue at hand for

Shenzhen then is not Trump’s vendetta or US manufacturing but the rise of new manufacturing hubs within China that host even cheaper labor.

This is a natural progression for any city as it grows and Shenzhen too has not been able to escape the Catch 22 situation.

The only possibility that manufacturing will move back to the USA involves the advancement of current manufacturing techniques. With the US labor rate more than twice the Chinese labor rate, it would not be feasible for any firm to set up shop in the US when it can do so much better in China and other countries. The only way this shift is going to happen is a more reliance on automated manufacturing and this news isn’t going to please the majority of trump supporters. “If these jobs come back to the U.S. they are going to be for people who manage 1,000 robots in an automated factory,” said Christopher Balding, a finance professor at Peking University in Shenzhen. “It will be jobs for computer nerds, not the people who voted for Trump.” This might be a major disappointment for the blue collar workers who vehemently supported Trump and is a clear example of how Trump took his voter base for a spin.

China, as always will survive just by its sheer might and it’s already doing so smartly. Current manufacturing hubs like Shenzhen are already transforming themselves into more metropolitan cities, will firms focusing more on designing and branding rather than core manufacturing.

Meanwhile the government is grooming smaller towns in the search for the next Shenzhen. US, meanwhile needs to learn to elect leaders based on factual data rather than fanciful claims and start preparing for more automation in their manufacturing sectors.

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INTERNATIONAL

Falling of a major Domino

- AFROZ I. HUSAIN

Russian ambassador shot at an art exhibition ——— Domino effect worldwide —— — Fragile relation between Russia and Turkey would fall apart——- Kurdish terror attacks

What sets of events can get triggered by the assassination of Russian ambassador in Turkey?

On 19th December 2016, Russia’s ambassador Andrei Karlov was speaking at an art exhibition, Cagdas Sanat Merkezi, in Ankara Turkey when an assailant opened fire. The gunman is identified as Mevlüt Mert Altıntaş, an off-duty Turkish policeman and was neutralized at the scene. The ambassador was taken to a hospital but died of his wounds soon after. The event took place at the center of Ankara which was just a minute walk away from the US Embassy in Ankara and just two minutes’ walk to the Turkish Parliament. The attack comes at a time when relations between Turkey and Russia were improving. The Russian president Vladimir Putin, qualified this terrorist attack as an attempt to damage Turkish–Russian ties.

Some believe that this could cause a major domino effect (the theory that a political event in one

country will cause similar events in neighboring countries and eventually the whole world).

Following are the consequences that are expected to happen after this event.

It could lead to another war Some even compared this event with the assassination of Franz Ferdinand, Archduke of Austria, on 28th June 1914 that subsequently sparked Austria-Hungary to issue an ultimatum to the Kingdom of Serbia which led to the World War I as other nations felt compelled to honor complex treaties and pacts.

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INTERNATIONAL

Turkey is a key member of NATO and Article Five of the NATO treaty states that if an armed attack occurs against one of the member states, it should be considered an attack against all members, and other members shall assist the attacked member, with armed forces if necessary.

So if Russia retaliates, there is a high chance of disruption of the world peace. It all boils down to how Russia reacts to this event.

off in Istanbul that killed 39 and wounded 154. A Kurdish militant group claimed credit for the Istanbul attacks.

Russian hackers target Turkey Russia has a penchant for causing domestic political trouble in other countries through conveniently timed cyber hacks (just ask the United States).

The Turkish government has been on the receiving The already fragile relationship between Russia end of such hacks before; on 7th Dec, WikiLeaks and Turkey could fall apart, leading to renewed released over 57,000 emails of Berat Albayrak, economic pressure on Turkey.

Turkey’s minister of energy and natural resources and also President Recep Tayyip Erdogan’s son-inlaw. With indications of Russia cooperating with WikiLeaks to publicize hacked emails in the past, Russian cyber surrogates could target Turkey, revealing more unflattering secrets about people in the orbit of President Recep Tayyip Erdogan.

This is what happened after November 2015, when Turkish F-16s shot down a Russian bomber on the border of Syria. In response, Russia embargoed many Turkish goods, Turkish exports to Russia fell $737 million.

Further, the Turkish Stream natural gas pipeline, meant to be part of the two countries’ “strategic partnership,” was put on hold. The economic situation did not improve until Erdogan apologized in June 2016.

Russia plays the Kurdish card Russia could use its historical ties with disaffected Kurdish populations in Turkey, including possible support for Kurdish militants, spurring more Kurdish terror attacks. On Saturday, a car bombing in central Turkey killed 13 soldiers and wounded 55. And on 11th Dec, two bombs went

The assassination is used as an excuse for further democratic repression in both Turkey and Russia Erdogan detained thousands after the failed coup against his government this July, a putsch that included an attempt on his own life.

Putin came to power in part by cracking down against perceived insubordination by violence in Chechnya. Whatever else, the assassination does not bode well for Russian or Turkish civil society.

The ceasefire in Aleppo collapses Russia and Turkey are on opposite sides of the Syrian civil war, but both helped broker the latest ceasefire that allowed rebels and civilians to leave Aleppo.

The assassination could cause the ceasefire collapse anew, or lead to renewed fighting elsewhere in Syria. Russian forces are operational in northeast Syria, not far from where Turkish troops have taken part in cross-border assaults on towns held by the Islamic State.

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FINHUMOUR - SAMARTH AGARWAL

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MARKET BSE Sensex - Top GAINERS Axis Bank BHEl Coal India Cipla GAIL

- ANSHUMAN NANDWANA BSE Sensex - Top LOSERS Bharti Airtel Hero MotoCorp Tata Motors Wipro Infosys

Market Markets for the last two weeks showed a u-shaped pattern. In the first week, BSE Sensex dropped from 26374.7 to 26374.7, tumbling each day. Major losers were infra and real estate sectors. Second week showed a steep rebound from the low.1 on Monday to 26626.46 at the end of the week. Major gainers during this period were banking and automotive est of 25807sector. Petroleum companies to have showed a comparative increase in this two-week period owing to OPEC agreement on curbing oil production. Nifty too showed a similar trend.

Graph1: BSE Sensex from Dec 19 to Dec 30, 2016

Graph2 :NSE Nifty 50 from Dec 19 to Dec 30, 2016 Page 11

STARTUP TRACKER - HRISHIKESH GULKOTWAR

Adyen, a privately-owned firm, was founded in 2006 by a team of payment industry professionals (the core management team hail from Bibit). Its headquarter is located in Amsterdam it employs around 450 people in its offices located across the globe. In December 2014, the company announced a funding round of $250 million led by growth equity firm General Atlantic, joined by existing investors Temasek, Index Ventures, and Felicis Ventures.

It offers businesses an outsourced payment solution. Thus, enabling merchants (mid, large and enterprise e-commerce) to accept payments from anywhere in the world. It serves over 3,500 customers. In 2014 it reportedly grew by 100% and revenues by 40% with earnings $130 million in 2015. It has over ten years of experience in running high-volume payment systems. It offers its clients online services, for accepting electronic payments by payment methods including credit cards, bank based payments. Its online payment platform connects to 250 payment methods across North America, Latin America, Europe, Asia, Pacific, and Oceania, from international credit cards to local cash-based methods, like Boleto in Brazil and internet banking methods like iDEAL in the Netherlands. Adyen provides a single solution, available for three payment acceptance platforms.

Its online payment solution offers maximum control by offering single screen payment pages, one-click payments, and A/B testing. It also supports plug-ins for the leading international

e-commerce platforms. They have integration plug-ins for leading platforms such as Magento, Demandware, Prestashop, Hybris, A madeus and others.

Adyen also offers their e-commerce solution for mobile platforms like iOS, Android or Windows mobile devices. This allows companies to provide payment methods for customers anywhere around the world. When using Adyen the companies can offer their customer a one click solution. The4 consumers can choose to be “remembered” on payment pages by storing their payment details on Adyen's secure platform. Post that, consumers can just go to the checkout page and click “pay”.

Adyen has also launched a mobile point-of-sale.

The payment device allows merchants to accept both chip and pin payments from a mobile device i.e. it accepts all credit and debit cards. The Adyen Shuttle offers face-to-face payment solutions, with payment terminals that work directly with a mobile device to receive payments on the go.

Significant achievements: Was ranked #10 on the Forbes Cloud 100 list, 2016 In 2015 it achieved a valuation of $2.3 billion, making it the 6th largest European unicorn In 2014 it processed more than USD25B in payment transactions worldwide.

Clients: Uber, Facebook, Evernote, Spotify, Airbnb, Mango, Vodafone, Booking.com, KLM, Greenpeace, Soundcloud, Superdry and Groupon

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FINAPP - NIDHI KUMAR

UPI (Unified Payments Interface) application is a payment system that allows to transfer money between any two parties. UPI Application allows customers to instantly transfer money using the IMPS payment framework, without having to know the bank account numbers or IFSC code of the transferee. All that is needed is their virtual identity in the app.

Advantages  Real time settlement of Funds  Easy Collection of Money  Easy Sending using Virtual id, Account No or Aadhaar number.  Addition of multiple bank Accounts in same application.

Availability Union Bank UPI app is available only for Android devices.

Steps to register  Step 1: Creation of Profile  UPI application can be downloaded into the headset from Google Play Store.  Application will send a message to verify the number (ensure sufficient balance in registered number)  On successful verification, the profile is created.

Step 2: Add your bank Account  Go to Add Account option.  Select bank name from the list of available banks.  If the mobile number is registered in the selected bank, then you will be able to see your account/s opened with the bank.  Select account which you want to link and create Virtual id for the account Step 3: Set PIN/Mobile banking registration  After linking the account you need to set/register pin for the selected account for using it for UPI.  Go to Set Mpin option and select the account for which you want to set the pin.  Enter OTP, which you will receive on your registered number.

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FINAPP

Set PIN.  Enter the last 6 digits of your debit card and the expiry date.  On successful verification you will receive "PIN Created successfully" Message.

How to send or collect Money Send Money:  Go to "Pay" option and select your account  Select payee address type  Now input beneficiary’s virtual address and amount.  Submit and verify the details after putting your PIN number.  You can check the transaction status through "Txn Status" menu.

Collect Money:  Got to "Collect" option and select your account.  Enter the virtual address detail of the customer from whom you want to collect the money.  Submit and verify the details.  You can check the transaction status through "Txn Status" menu. 

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FINWORD

ANJELINA JOLIE STOCK INDEX

- PRANAV GOYAL

An index made up of a selection of stocks from companies associated with actress Angelina Jolie. Seen as one of the world's most influential celebrities, some analysts believe that companies connected with Jolie will outperform their competition.

Outperform is when an investment is expected to perform better than the return generated by a particular index or the overall market. Since the performance of many investments is compared to a benchmark index, outperform refers to generating a higher return than a particular benchmark over time. Outperform also refers to an analyst’s rating on a security, and outperform is a better rating than neutral and worse than a recommendation.

The index was created by Fred Fuld of Stockerblog.com; it includes the stocks of movie studios and producers that have had a connection with Angelina Jolie, such as Sony (NYSE: SNE), Viacom (NYSE: VIA) and Time Warner (NYSE: TWX). Because Jolie's films usually earn large box-office revenues, the companies that produce these movies should have higher profits

RELATIVE STRENGTH INDEX The relative strength index (RSI) is a momentum indicator developed by noted technical analyst Welles Wilder that compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security. It is primarily used to attempt to identify overbought or oversold conditions in the trading of an asset.

The relative strength index is calculated using the following formula: RSI = 100 - 100 / (1 + RS) Where RS = Average gain of up periods during the specified time frame / Average loss of down periods during the specified time frame/ The RSI provides a relative evaluation of the strength of a security's recent price performance, thus making it a momentum indicator. RSI values range from 0 to 100. The default time frame for comparing up periods to down periods is 14, as in 14 trading days.

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DID YOU KNOW

- RISHI SAXENA

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The first month of the year i.e. January has been named after God Janus (Latin word for door), in the Roman calendar. Janus is the God with two faces, one looking backwards and one forward, at the same time and marks the ‘spirit of the opening’ New Year is the oldest of all holidays, as it was first observed in ancient Babylon as many as 4000 years ago.

The Germans made the first artificial Christmas trees out of dyed goose feathers George Washington, Abraham Lincoln, Andrew Jackson – most of our paper currency features U.S. presidents. There are only two exceptions: Alexander Hamilton is on the $10 bill and Benjamin Franklin is on the $100.

5,000 and 10,000 rupees notes were in circulation between 1954 and 1978 After Independence, Pakistan used Indian Rupee notes stamped with 'Pakistan' until it could print enough.

New Year’s resolution is said to have originated as early as the Medieval era where knights took the “peacock vow” at the end of the Christmas season each year to re-affirm their commitment to chivalry It is possible to find out which place a particular coin was minted at by determining the mark below the date of minting with this table

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FINQUIZ

1. What is the rank of India among the world’s Top-Ten largest manufacturing countries in the United Nations Industrial Development Organization (UNIDO) 2015 Yearbook report?

[A] Fouth [B] Fifth [C] Sixth [D] Seventh

- KRISHANT KAUL

2. Which among the following banks became the first private sector bank in India to open dedicated branch for startups?

[A] SBI [B] ICICI [C] HDFC [D] RBL 3. Recently, India has ratified the World Trade Organisation’s (WTO) Trade Facilitation Agreement (TFA) to boost global economic integration. Who among the following is the current India’s Permanent Representative to the WTO? [A] Rajiv Sinha [B] Anjali Prasad [C] Alok Ranjan Jha [D] Shalini Sinha 4. Which among the following has become the top mobiliser under Gold Monetisation Scheme, which was launched by Prime Minister Narendra Modi in November 2015?

[A] BOB [B] SBI [C] IOB [D] PNB 5. Recently , India has replaced China as top destination for foreign direct investment by attracting how much worth FDI projects in 2015?

[A] $55 Billion [B] $63 Billion [C] $38.5 Billion [D] $67 Billion

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FINQUIZ

6.

[A] [B] [C] [D]

Bank has launched, India’s first of its kind Aadhaar-based Automatic Teller Machine (ATM) in the country. The headquarter of DCB bank situated in New Delhi Mumbai Chennai Hyderabad

7.

[A] [B] [C] [D]

What is the minimum paid-up capital requirement for small banks?

250 crores 500 crores 50 crores 100 crores

8.

[A] [B] [C] [D]

Recently, the government has slashed interest rates on loans from the National Small Savings Fund (NSSF) to ____ from 9.5 per cent for FY17 ?

7.8% 8.8% 8.6% 8.2%

9.

[A] [B] [C] [D]

How much amount has been allotted for MGNREGA for 2016-17?

35,000 crores 37,500 crores 38,500 crores 39,000 crores

10. Which of the following is NOT an item of the Public Debt as referred in the financial documents of the Govt. of India?

[A] Treasury Bills [B] Loans from foreign countries [C] Deposits under Special Deposit Schemes [D] Loans given by the Public Sector banks to individuals

Answers: 1. C 6. B

2. D 7. D

3. B 8. B Page 18

4. D 9. C

5. B 10. D

LIFE @ IMT

Cheers to a new year and another chance for us to get it right.

-Oprah Winfrey

- SRIKANT SINGH

With the onset of a new year, there comes numerous resolutions which either get accomplished till the end of the year or sometimes the terms change as time passes. IMTians have resolutions to have a better future for all the stakeholders of the society with the ongoing SSR and various other activities. Exams are finally over and students have witnessed a number of events in last some days. The most prominent was “COMMUNICON� which saw grand success like every year with a number of participants from educational institutions all over India. The never say die spirit of IMTians has defied the ever decreasing temperatures this year and will continue defying all the barriers in their success.

FinNiche along with ICICI Direct organized the 5th season of Stock Mind trading competition of national level, the results of which are yet to be out. The competitions were for students of IMT Ghaziabad which went on for a week. The competitions saw a number of participants from the college who learnt the nuances and the mechanism behind trading. FinNiche is committed to organize similar kind of events for students from all domain so as to enrich their financial knowledge.

We wish everyone a happy new year and all the best for all future attempts.

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