IMAGINE AN ECONOMY where cash and plastic cards trail behind digital payments. This shift will not just impact India but the world too, as low-cost QR codes are increasingly becoming popular for payments compared with high-cost point of sale or POS terminals.
And it's not just this; there are other transformative reforms at play here in the ₹177-lakh crore financial services sector. The path-breaking Insolvency and Bankruptcy Code (IBC) is expected to be fine-tuned this year to ensure faster insolvency proceedings. Consider the significant release of funds this promises for banks, empowering them to reinvest those funds. There is also the new development financial institution (DFI), which is poised to infuse substantial funds in partnership with banks into the rapidly growing infrastructure sector.
The financial services industry is on the cusp of an exciting transformation. While great progress has been made, there are many pieces that are part of the government's and the Reserve Bank of India's (RBI) unfinished agenda that are still in the works.
12% THE CURRENCY IN CIRCULATION TO GDP RATIO, WHICH IS STILL QUITE A CONSIDERABLE AMOUNT
LESS CASH
Esta historia es de la edición February 18, 2024 de Business Today India.
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Esta historia es de la edición February 18, 2024 de Business Today India.
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"OFFER MORE SOPS FOR THE NEW TAX REGIME”
Dinesh Kanabar, CEO of Dhruva Advisors, on the tax-related measures expected in the Budget, reforms, and more
IN SEARCH OF A BOOSTER SHOT
TO BOOST GROWTH, THE GOVERNMENT MAY FOCUS ON INCREASING CAPEX AND BOOSTING DOMESTIC CONSUMPTION, PARTICULARLY TARGETING THE MIDDLE CLASS. THIS COULD PROVIDE A FILLIP TO STOCKS IN THOSE SECTORS
HEALTH BOOST
THE HEALTHCARE SECTOR IS EXPECTED TO RECEIVE A SHOT IN THE ARM IN BUDGET 2025-26, WITH A FOCUS ON PRIMARY HEALTHCARE, DIGITAL HEALTH, AND BOOSTING PHARMACEUTICAL MANUFACTURING AND RESEARCH. BUT CHALLENGES LIKE THE SHORTAGE OF HEALTHCARE PROFESSIONALS REMAIN
"Indian aviation to see double-digit growth for the next 30 years"
Vinay Dube, Founder & CEO of Akasa Air, on the country's aviation sector, why the airline was set up, and more
TIME TO BE SMART
This year could be a good time to take home some profits, reduce risk, and shift to large-cap investments
CLOTHES MAKETH A MAN
THE MEN’S LUXURY MARKET IN INDIA, ONCE A NICHE SEGMENT, IS WITNESSING AN EXTRAORDINARY RISE AND IS THRIVING, THANKS TO SOCIAL MEDIA AND RISING DISPOSABLE INCOMES
Front-running Redux
Ketan Parekh has again been accused by Sebi. This time the allegations are of front-running, an unethical practice in financial markets
Triumph of Engineering
The Udhampur-Srinagar-Baramulla Railway Line in J&K is set to expedite trade and tourism
MAKING A MARK
IN A LANDSCAPE DOMINATED BY THE BIG FOUR ACCOUNTING FIRMS, DHRUVA ADVISORS HAS STRUCK IT BIG ON THE BACK OF ITS TAX AND REGULATORY ADVISORY SERVICES, ASSISTING SOME OF THE MARQUEE DEALS OF INDIA INC.
TIME FOR A TAX BREAK?
INDIVIDUAL TAXPAYERS LOOK FORWARD TO THE BUDGET EVERY YEAR HOPING FOR A BIG TAX BREAK. IT HAS ELUDED THEM FOR YEARS, BUT WITH HIGH INFLATION, MODERATING URBAN CONSUMPTION, AND ROBUST TAX COLLECTIONS, WILL THE MIDDLE CLASS GET A TAX BREAK IN FEBRUARY?
