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FS Daily Bytes: 3rd July

India 

  1. Traders are in a mad rush for GST compliant accounting software so that they can continue with their business. This is good news as this may minimize tax avoidance cases
  2. RBI released a working paper titled “Phillips Curve Relationship in India: Evidence from State-Level Analysis“. The paper considers the very well-known Phillis curve framework and the inflation determinants
  3. Lending platform, BillionLoans, has closed a seed funding of 7 Cr INR from Reliance Corporate Advisory Services. They provide a platform connecting borrower & lender by using technology & data bases alternative credit analysis
  4. Manish Jaiswal joins as the CEO for Magma finance
  5. GST has made the digital payment transactions like UPI/ wallet etc which do not attract any charge, more attractive
  6. Govt has cleared that there is no double taxation on credit cards and the only impact on financial services is the increase in service charge from 15% to 18%.

 

International

  1. Why central bank issued e-money/ digital currency may not be possible & the problems around the same has been discussed at length in an interesting FT article. Click here…
  2. In the latest Financial Stability Board annual report, member claims that the toxic part of the shadow banking across the globe has been tamed & what remains, is the more resilient market-based finance. Pls. read more…

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