Manoj Mohan

#VM_view - from the writer’s desk - sample chapter - why government borrowing is not a concern (Not a promotional content but inputs on how market generally behaves at events) Budget has just gone by a fortnight ago and we are staring at a recession in US suddenly Before I’m trolled with charge of promoting the content let me make it clear - the selective group of readers for whom the book was written have already read it and I’m left with no more copies to distribute. If anyone wants now only Amazon ebook is there Since there is limited fictional content on markets - though the legendary mortgage banker has written a few (I guess 9) in backdrop of retail banking - I try to share the snippets mainly to promote market and make people aware that a lot goes in policy formulation - even beyond what we can imagine Read through what was going through minds of policy makers at onset of new millennium, on July 20, Y2K and then at the time of Lehman As I say I don’t need to promote, if you read the chapter you will do the needful on my behalf Enjoy the Sunday read Regards VM https://lnkd.in/dHMg6GNC

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Banks don't like changes. Even if the instructions come from RBI. The regulator's direction to move away from OTP as the 2FA requires banks to spend a lot of money and time to do it. And it is not happening anytime soon. Banks have been using OTPs for a decade and a half. While there are other alternatives, changes bring legal and compliance complications. When RBI introduced 2FA, banks were given the option to choose their preferred method. OTPs were the easiest and cheapest solution then. However, the technology has advanced much but banks are striking with what worked well for them. Please read my story on this https://lnkd.in/db_VzAYQ

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💡 IIFL Fintech Fund - India's only early-stage fintech-focused fund backed by a financial services conglomerate – the IIFL Group, has delivered a stellar performance during turbulent industry scenario. 💡 The fund is over two-year old and is invested across 14 portfolio companies. It has a 0% Deadpool (Deadpool means failed startups) till now and 40% of its portfolio is EBIDTA positive. 💡 The fund boasts of one exit which was made in less than 18 months delivering an 80% IRR. Fund's Portfolio Internal Rate of Return (IRR) stands at 24% and Total Value Paid-In (TVPI) of 1.35x.     💡 Overall the portfolio companies have witnessed 100mn$ plus of follow-on funding post IIFL's investment. Revenue growth reported by the portfolio is 9.5x in an average holding span of 1.5 years. 💡 All of these portfolio companies have delivered 3-4x higher growth than their respective segments growth. Some of the early stage investments that the fund had identified have seen a 12x revenue growth in less than 2 years. 💡 Fund's strategy is to focus on early stage Fintechs and SAAS platform players that have use cases in the financial services industry. 💡 Fintech growth in India is multi-decadal and is expected to be higher as there is a huge under-penetration seen across segments: domestic credit (3x gap vs global), Mutual fund AUM (4.6x gap vs global) and Insurance (~1.6x gap vs global). 💡 Overall, fintech as a segment is expected to grow at 11.1x in the next 5-years versus a growth of 3x expected in Indian online retail and 5.8x expected in Indian consumer tech. Over the last 5 years, 30% of the total funding deals have happened in the Online and Retail space and only 17% of the total funding has happened in Fintech. This gives an immense opportunity to fintech focused funds.  #IIFLFintechFund #IIFL #Fintech #India #Funding #Return IIFL (India Infoline Group) IIFL Finance IIFL Securities Mehekka Oberoi Shweta Chaudhary Lisa Sopori Govind Chandak Khushi Khandelwal

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TFM presents Fin-Idea exploration meetup closed-door brainstorming session focused on what's new in fintech & can be built? Date: Dec 07th (Saturday) Time: 10 AM onwards Location: Delhi NCR (exact location will be shared with selected folks only) Participant profiles (& restrict to 10-12 participants): - BFSI professionals (leaving their current roles), - Seasoned ex founders, looking to re-start As we are approaching the end of 2024, one question we’re hearing more frequently is: 'What’s new on the FinTech front (actual fintech-fintech)? & while looking back at this year, I’d say 2024 has been a year for secured/ mortgage lending and majority deals happened in that domain. This initiative is designed to bring right mix of folks - BFSI Professionals, seasoned ex-founders and thought leaders in one room, with the shared passion for creating the next big fintech idea. Stay tuned for insights and highlights from this gathering — we believe it’s going to be a game-changer! Please fill form here (if you qualify above criteria): https://lnkd.in/gUrvP3CF #finTech #fintechyatra #innovation #brainstormingsession

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It is often said that Impact investing does not deliver financial returns. At C4D Partners, we are proving this wrong. Our Fund 1 has already achieved a 51% DPI on the India portfolio within 6 years of fund life, delivering a robust IRR. We’re not just about investing for impact, but also prioritizing strong, sustainable financial returns. We carefully select companies that are cash flow positive and demonstrate a clear path to profitability within a couple of years of our investment. This has enabled us to keep our mortality rate under 20%, lower than the industry average. Our approach - We invest in early-growth stage companies that are well-governed and on a clear path to positive cash flows, and be there for the long haul. Our approach comprises not just capital infusion, but active involvement in fostering a culture of transparency, operational excellence and sustainable value creation. We position our investments for sustainability and success in an ever-evolving market. If you’re a startup or investor interested in partnering with us, or just curious to learn more, let’s connect. Mirakle Couriers, Ecotasar, LabourNet, Saahas Zero Waste, Aarohan , 1BRIDGE, Ananya Finance, Freyr Energy Services Pvt Ltd #VentureCapital #Startups #SMEs #GrowthCapital #InvestmentStrategy #C4DPartners

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Ms. Ritu Singh, Senior Economist and Head – MSME Research, will be speaking at the Conference on Digital and Cashless Economy organised by the Confederation of Indian Industry (CII). She will be sharing her views on the topic ‘Payments as a Catalyst for Expanding Financial Product Penetration’ tomorrow. #UGROCapital #Speaker #CII #CashlessEconomy #DigitalPayment

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Is India Ready to Finance Its Green Future? 🌱 In my latest article with Renewable India, I tried to highlight the financial backbone of India's sustainability ambitions, from green bonds to coal gasification and beyond. 💡 Curious about how the government, private sector, and global partners can collaborate to make India’s eco-dreams a reality? Check it out! Globizera Services can be instrumental in supporting India's renewable energy goals. Our team's expertise in securing both short-term and long-term debt financing can provide vital capital to fuel renewable energy projects. This financial support is crucial for overcoming the significant funding challenges associated with India's green transition. 📊💰 Your thoughts on sustainable financing? Reach out to us and let's discuss!! 🔗 Read the full article here: https://lnkd.in/dSTBjzRE #Sustainability #GreenFinance #IndiaBudget2024 #ClimateAction

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SEBI's latest reforms are set to unlock greater market efficiency and flexibility, creating more opportunities for investors and businesses. From quicker settlement cycles to simplified frameworks for mutual funds and investment advisors, these changes mark a new era of growth in India’s financial markets Key Changes: 1) SEBI launched a new investment product for high-risk strategies with a ₹10 lakh minimum investment, ensuring safeguards. 2) Introduced the MF Lite framework to boost passive mutual fund schemes with reduced regulatory requirements. 3) Expanded the T+0 settlement cycle to the top 500 stocks, offering quicker settlement options for investors. 4) Reduced the Rights Issue timeline from 317 to 23 working days for faster capital raising. 5) Simplified eligibility and compliance for Investment Advisors (IAs) and Research Analysts (RAs). 6) Refined insider trading regulations, expanding the definition of "connected persons" and "relatives." 7) Enhanced trading flexibility with UPI block mechanisms and 3-in-1 trading. These reforms mark SEBI's continued commitment to investor protection, market transparency, and promoting ease of business for listed entities. The focus on faster processes, enhanced flexibility, and expanded trading options aims to strengthen India's capital markets and foster long-term growth. #SEBI #Investment #MFRegulations #MutualFunds #CapitalMarkets #RightsIssue #PassiveFunds #InvestmentAdvisors #FinancialMarkets #RegulatoryReforms

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The Colossus episode on Bajaj Finserv where Matthew Reustle, CFA interviews Marcellus Investment Managers's Saurabh Mukherjea, FRSA is an exceptional one. Worth a listen / read even if you are not in fintech, if only to understand what an incredibly tight biz model they have built. The growth numbers are mindblowing, resulting in a $50b mcap co. Saurabh: "over the last 16 years, this company has compounded share prices 1,000x. That's underpinned by 30% loan book CAGR, 50% PAT CAGR. So 50% PAT CAGR over 16 years, I think that's roughly 650x PAT compounding over 16 years." Whoa! They say there are 4 elements to a lending business - cost of capital, cost of acquiring customer, quality of underwriting, and ability to collect. You need to great at at least two of these and ok at the others (cant be bad) to run a profitable lending biz. Bajaj Finance is that rare lender, who is great at all four elements, from what I understand from the podcast. Some fascinating data points in the podcast. 1/ Like this one on the lending market, and how Bajaj is about a sixth of the nonbank lending market. Saurabh: "Banks lend around $2 trillion in India. Nonbank sector lends around $250 billion. Bajaj Finance's loan book is $40 billion." 2/ The explainer on their hero product, the zero-interest EMI was illuminating. 3/ I heard once that Bajaj Finance is Salesforce's 2nd biggest account globally. I couldnt believe it then, but now after reading / hearing that Salesforce had to create a separate dbase for them (they have 1000 datapoints on 200m Indians), I can understand. 4/ The 65-hour workweek and the long hours is interesting. It is not usual for an Indian co to have a 7am start to the workday, and for the long hours to be so explicitly coded. All in all, a terrific primer on a world-class business that has got built out of India. Saurabh Mukherjea has an exceptional handle on the business. Loved the colour he has on the biz such as how each unit does their own capital allocation, and how HQs ups or downs their quota depending on their performance. Link to the piece (incl transcript): https://lnkd.in/ge2gBjiS

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SBICAP Ventures Limited, (a State Bank of India Group company), embraces the transformative potential of innovation in fostering sustainability within India's SME ecosystem by implementing various technological innovations.   👉🏻 SVL's partnership with the Inflexor Technology Fund- The Fund invests in transformative technologies that redefine industries. Their focus areas are EdTech, Logistics Tech, Space Tech, Agri Tech, and FinTech, which epitomise forward-thinking investment in the digital era.   👉🏻 Self-Reliant India (SRI) Fund, managed by SVL hosts a #TechnologyPlatform that streamlines investments through screening, decision-making, and monitoring of proposals.    👉🏻 Neev Fund, managed by SVL, have investments that prioritize #CleanTech. The Fund aims to promote alternative fuel adoption, water management, clean energy, hydroponics, sustainable mobility, and circular economy.   This #NationalTechnologyDay, we reaffirm our commitment to harnessing the power of technology to drive sustainable development, foster inclusivity and propel our nation towards a brighter future.   #SBICAPVentures #ImpactBySVL #NationalTechnologyDay2024 #NationBuilding    Suresh Kozhikote Akshay Panth Abdul Kader Suriya Inflexor Ventures

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Has the Hyundai IPO flopped? 👎 On the surface, the IPO got 2.7x bids on the offer of Rs 27,000 crore (India's largest) but with a big caveat. The retail portion of the offer was subscribed just 50%. Whereas, the IPO was 'saved' by the institutional investors who bid nearly seven times the shares reserved for them. Why HNIs and Retail Investors Stayed Away: 1️⃣ Pricing 🏷️ - A SEBI study last month showed that 54% of IPO Shares allotted to Investors (excluding anchor investors) are sold within a week. This means retail investors expect considerable gains post-listing, this was pretty much impossible after the price band was aggressively priced at 1865-1960 2️⃣ Only Offer-for-Sale (OFS) 🎁 - The IPO was purely an OFS, with the entire Rs 27,000 crore going to existing shareholders. There was no fresh capital infusion into the company, which is usually seen as a negative by retail investors. Companies raising funds for expansion often offer better long-term growth prospects, but Hyundai didn’t provide that opportunity. 3️⃣ Financing Apprehension? 📝 - Hyundai announced plans to spend over Rs 32,000 crore in the next 10 years. Given the OFS structure and the company’s dividend commitments, there’s an expectation that Hyundai will need to rely on external financing to meet its capital expenditure, raising concerns about financial strain and future profitability. P.S Check out Rupee Rundown, my daily finance newsletter for the best curation of Indian finance news, delivered straight to your inbox every day at 8am ⏰

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Monday,1 July, 2024 Here are today's PESTLE updates impacting your areas of work execution Economic times √ JK Solutions-led Group’s Valecha Buy Gets NCLT Nod √ Skoda Eyeing Local Equity Partnership Amid Electric Shift √ Biden Asks Donors to Stick with Him After Disastrous Debate √ Top Fintechs Dial NBFCs for Secured Credit Partnerships √ RBI Aims to Get Inflation Down to 4%, Don't Expect Any Rate Cut this Year √ Fresh Capital Raised Via IPOs Surges to a 9-Year High, Hints at Private Capex Revival ==================== Mint √ India’s rice exports dip 34% in Q1 following curbs by Centre √ Phone stores see pre-festival vibes √ AP Moller leads race for Pristine Logistics GIP’s 57% stake on block; deal likely at enterprise value of $500 mn √ Shareholder discontent rises with Nilekani's reappointment as Infosys director √ Boeing agrees to buy Spirit Aero for over $4 billion: Report √ iD Fresh to ramp up manufacturing capacity for expansion beyond metros =================== Financial times √ Swiss buyout firm Partners Group lands deal for stake in €900mn biotech firm √ BlackRock agrees to buy UK data group Preqin for £2.55bn √ Zurich and Aon launch insurance scheme to boost hydrogen development √ Boeing agrees to buy Spirit AeroSystems in $4.7bn deal √ ECB faces speculation over market intervention after French elections √ Central banks should set a ‘high bar’ for interest rate cuts, BIS warns ==================== Business standard √ We have a strong pipeline of more than $50 mn AI-led deals: Chakravarthi √ Electric scooter sales flatten while Ola, Bajaj garner more market share √ Mcap of 9 of top-10 most valued firms jumps Rs 2.89 trn, Reliance shines √ EPFO gross new members addition dips 4% to 10.9 mn in 2023-24: MoSPI report √ India to overtake Japan to become 3rd largest global market: Sony MD √India takes first steps to meet 2070 net-zero goal, Niti Aayog forms panels ================================================= Monday,1 July, 2024 USD/INR- Open- 83.3900 prev.close- 83.4700  ⬇️0.0599% GBP/INR - open- 105.5577 prev. close - 105.4800 ⬆️0.1133% EURO/INR- open- 89.6730 Prev.close- 89.2992 ⬆️0.4648% JPY/INR - open- 0.5181 prev close- 0.5197 ⬇️0.3079% BSE- open- 79,043.35 prev close- 79,032.73 ⬆️0.30% Gold - open- 71606.00 prev close- 71582.00 ⬇️0.05% Silver- open- 86980.00 prev. close- 87167.00 ⬇️0.17%

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OCEN, 2020, ONDC for BFSI 2023, PTPFC by RBI Innovation HUB 2023 , ULI by RBI innovated by RBI Innovation HUB in 2024 , DPI/‘Digital rails are great access to public and public permissoned data like land records and crop data , fintechs like WhatsLoan, banks like Union Bank have worked on this from 2020 from The time Digital Kisan Credit Card Guidelines kicked in in Sept 2022 at GFF 2022 announced by RBI Governor was launch of Digital KCC pilot by 2 banks .. WhatsLoan has built this for agrilending for Gramin Bank in Karnataka in 2020, successfully sevicing > 3 lac farmers , launched Digital KCC STP in 2022 Sept using PTP FC , land record access APIs given by RBI Innovation HUB for Union Bank and other banks .. ULI , OCEN , ONDC for BFSI offer huge opportunities for fintechs to build , as they offer common digital rails, there is more to do by fintechs to work between borrowers and banks , that is 10 times effort to work with banks existing LMS, CBS systems to make it more intergrated lending system to offer end to end digital native systems with STP in an assisted and self model, both OTP based and biometric based at branch and BC level , in multilingual formats super easy few steps and less than 5 minutes delivery of loans esp agri loans which is super hard , as each state is country in India We have submitted proposal through FCC to RBI for future of gold lending , dematerising gold , making storage of gold for ownership or loans interoperable with common storage , allow billion and gold coins to be allowed for loans along with e gold , tokenisation helps it next level , this brings SEBI for custody and RBI for lending to work together , happy to exchange thoughts here !!

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