Banking CA -
India’s GDP growth likely to slip below 7 % this fiscal year: DBS
On 15th September 2017, a report by DBS, a multinational banking and financial services corporation, said that India’s GDP growth is likely to reduce below 7 % this financial year.
India’s GDP growth likely to slip below 7 % this fiscal year: DBS
On 15th September 2017, a report by DBS, a multinational banking and financial services corporation, said that India’s GDP growth is likely to reduce below 7 % this financial year.
Predicted fall in India’s GDP:
i. According to DBS, two main reasons for the downfall are demonetisation in November 2016 and GST implementation in July 2017. These added to the already slow growth in manufacturing and investment sectors.
i. According to DBS, two main reasons for the downfall are demonetisation in November 2016 and GST implementation in July 2017. These added to the already slow growth in manufacturing and investment sectors.
ii. Also note ban reduced cash availability, affecting heavily the cash sensitive businesses like construction, logistics, and small and medium size enterprises.
iii. The report also said that, the second half of this financial year is expected to see an improvement in trend growth. As a result of demonetisation’s impact slowing fading out.
iv. This GDP downfall would be the lowest in three years.
v. Recovery would be gradual. Much of recovery could not be expected in 2017 and 2018.
vi. Government investment on infrastructure and capital expenditure is necessary to bring back the GDP above 7 %.
About DBS:
i. Type – multinational banking and financial services corporation
ii. Headquarters – Singapore
iii. Chairman – Mr.Peter Seah Lim Huat
HSBC in tie-up with Sa-Dhan to develop digital ecosystem for India’s unbanked segment
HSBC Bank has entered into an agreement with Sa-Dhan to develop ecosystem for the unbanked segment in the country.
Key Points:
i.HSBC Bank is providing technology expertise to train and educate micro-finance consumers at grass-root level and introduce digital banking.
v. Recovery would be gradual. Much of recovery could not be expected in 2017 and 2018.
vi. Government investment on infrastructure and capital expenditure is necessary to bring back the GDP above 7 %.
About DBS:
i. Type – multinational banking and financial services corporation
ii. Headquarters – Singapore
iii. Chairman – Mr.Peter Seah Lim Huat
HSBC in tie-up with Sa-Dhan to develop digital ecosystem for India’s unbanked segment
HSBC Bank has entered into an agreement with Sa-Dhan to develop ecosystem for the unbanked segment in the country.
Key Points:
i.HSBC Bank is providing technology expertise to train and educate micro-finance consumers at grass-root level and introduce digital banking.
ii.It has to be undertaken in West Bengal, Punjab, Karnataka and Maharashtra and it is expected to benefit 1,200 consumers.
iii.The pilot will be creating digital hubs with POS machines and internet connectivity.
About HSBC
Founder: Thomas Sutherland
HQ: HSBC Tower London England UK
Group Chief Executive: Stuart Gulliver
About HSBC
Founder: Thomas Sutherland
HQ: HSBC Tower London England UK
Group Chief Executive: Stuart Gulliver
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