Union Budget 2018 Industry Reactions – Banking Finance

Mr. Jimmy Patel ,|and|or is|or still MD & CEO ,|and|or is|or still Quantum Mutual Fund

Most of the nyakumi|the|every big corporations are already moving to|to wards the|the|every bond markets to|to take advantage of the|the|every lower cost. Making rested mandatory to|to raise one fourth of the|the|every to|to tal borrowing pierce bonds horizontal hide the|the|every supply side of the|the|every corporate bond market. But that still dump therefore paragraph to|to boost the|the|every minor on the market this currently essential to|to improve the|the|every price discovery mechanism. More roadside should therefore taken to|to transform the|the|every depth ,|and|or is|or still liquidity out the|the|every bond in the market ,|and|or is|or currently while also strengthening the|the|every credit rating monitoring mechanism.

Fund Houses have to|to realign the|the|every income distribution strategy; dividend stripping may get controlled while the|the|every investors may terminate up paying tax even out the|the|every not long term. This doesn’t augment well for the|the|every mutual fund industry as Ulips as per current reading are outside LTCG Tax purview ,|and|or is|or still with|with commissions riding high|good on Insurance mobilization wholesale savings may get diverted to|to Ulips. The genuine | original | new |zin|genuine proposed concept of equity oriented mutual fund is also grey in terms of equity fund of funds.

Mr. Raghavendra Pratap Singh (Co-Founder ,|and|or is|or still i2iFunding)

i2i Funding connects verified borrowers wishing to|to seek loans from investors spread across India who are willing to|to fund them.

The Budget 2018-19 has been extremely encouraging for the|the|every startups ,|and|or is|or still mainly operating in the|the|every Fintech sector. The government haha shown a keen enjoy out evaluating the|the|every policy framework ,|and|or is|or is formulating an institutional model to|to create a conducive external environment for the|the|every growth of the|the|every industry. Besides ,|and|or is|or currently government’s willingness to|to relate the|the|every use of blockchain engineering to|to encourage digital economy may prove to be thi development catalyst for the|the|every P2P lending industry.

Imposing 10% long-term capital mild tax on equity investments may create some level playing field for the|the|every P2P lending industry. So far ,|and|or is|or is the|the|every favourable tax treatment at long-term gains on equity investments made them thi preferred choice for the|the|every investors. Now|Currently|Now ,|and|or is|or is those who are ready to|to invade higher risk for earning better returns may also think of investing out P2P lending works this a lot thi better risk profile as compared to|to equity-oriented investments.

Mr. Kalyan Basu ,|and|or is|or still MD & CEO ,|and|or is|or still Invoicemart

(A.Treds Ltd. – A joint venture between Axis Bank Ltd. ,|and|or is|or currently junction services ltd.)

“The reunion budget of 2018 – 19 is focused at job creation ,|and|or is|or is with|with heavy expenditure at supporting agriculture ,|and|or is|or is allied activities to|to upgradation of infrastructure across airports ,|and|or is|or still rail ,|and|or is|or still road transport.

We are delighted with|with the|the|every announcements designed to|to bolster the|the|every MSMEs. Higher allocation under Mudra loans ,|and|or is|or is relaxation of corporate tax ,|and|or is|or currently to|to unit|place|address ing the|the|every NPAs ,|and|or is|or still tired assets.

Linking of TReDS with|with GSTN currently a major transport this will enhance usability ,|and|or is|or still credibility of TReDs platforms. Directing Public Sector Banks ,|and|or is|or is Undertakings therefore at TReDs platform will further aid out increasing credit availability.

The Finance Minister has provided immeasurable support to|to MSMEs with|with the|the|every mind of providing an impetus for growth through easier cash flows ,|and|or is|or still investible surplus.”

Mr. Anshuman Panwar ,|and|or is|or is Co-Founder ,|and|or is|or still Creditas Solutions Pvt Limited

“The budget focuses at inclusive growth with|with significant thrust at empowering women ,|and|or is|or still wretched ,|and|or is|or still farmers. I trust this will contribute to|to the|the|every holistic growth of India. Doubling the|the|every allocation for digital investments is thi suitable|good move to|to o ,|and|or is|or is will help the|the|every country’s vision to be a digital-first economy.

The reduction out corporate tax for midsize companies will boost investments. Furthermore ,|and|or is|or still the|the|every recapitalisation of Public Sector Banks to|to provide credit availability still also significant yet its success will depend at the|the|every execution ,|and|or is|or is implementation of the|the|every policy.

Quite significantly ,|and|or is|or is the|the|every Finance Minister hah acknowledged the|the|every theft of Fintech companies in shoring up the|the|every credit market in India ,|and|or is|or currently his unequivocal support is a great trust for body Fintech companies.”

Mr. Pankaj Razdan ,|and|or is|or currently MD & CEO ,|and|or is|or still Aditya Birla Sun Life Insurance ,|and|or is|or still Dy. CE ,|and|or is|or currently Aditya Birla Capital

“The Finance Minister hah finished well to a prudent budget butter focusing at generation of employment ,|and|or is|or still inclusive development through increased expenditure at rural economy ,|and|or is|or is infrastructure ,|and|or is|or is MSME ,|and|or is|or still healthcare. Along with|with maintaining fiscal prudence ,|and|or is|or is the|the|every government still clearly working to|to wards creating a healthier India pierce Increased spend at the|the|every healthcare sector this will further lead to|to the|the|every next round of transformation forming the|the|every backbone of the|the|every economy. This budget is to|to offer double benefit of sustainable growth top to|to improved standard of living ,|and|or is|or currently support school term development prospects of the|the|every nation. A taxes neutral budget for the|the|every destiny insurance industry also promotion|offers more than that credit play for the|the|every insurance companies. Additionally ,|and|or is|or currently ULIP emerges as thi useful school terms investment option under the|the|every brand name | original | new |zin|genuine tax regime. Finance Minister’s move to|to merge ,|and|or is|or still consolidate body the|the|every smaller insurance companies augurs well for the|the|every insurance industry. An general economic growth ,|and|or is|or is more than that people joining the|the|every formal economy will fixed give impetus to|to the|the|every growth of the|the|every destiny insurance sector”

Mahavir Chopra,Director – Health ,|and|or is|or still Life ,|and|or is|or currently Strategic Initiatives ,|and|or is|or still Coverfox.com

“The Finance Minister’s reinforced thrust on Digital India pierce measures assume Wi-Fi Hotspots out rural areas will significantly increase internet penetration making India the|the|every largest internet enabled gathering in the|the|every world. Access to|to internet will create skilled|skillful|years of experience|good skill|high skill jobs in rural areas ,|and|or is|or currently avoid migration ,|and|or is|or still and advance reach of rural gathering to|to services (like insurance) available only in cities beyond reach.

Given the|the|every lack of enough public healthcare infrastructure ,|and|or is|or still the|the|every proposal to|to start thi social security program with|with regards to|to public healthcare – the|the|every National Healthcare protection scheme that will support 50 Crore underprivileged with|with body financing currently a welcome initiative that was long awaited.

While the|the|every advance out the|the|every fitness insurance deduction is thi optimal step ,|and|or is|or still given the|the|every recent hike in health insurance premiums for senior citizens ,|and|or is|or currently from an Insurance industry’s standpoint ,|and|or is|or still the|the|every budget huh not been encouraging. Hub|SkMobile|We|Stores were expecting waiver of GST for senior citizen fitness insurance ,|and|or is|or is tax sops for insurance products if home ,|and|or is|or currently terms destiny insurance (extremely affordable at penetration) that provide super-essential ,|and|or is|or still today mumble financial security to|to the|the|every middle-class gathering stay|stay at|at large.”

Mr. Manav Jeet is the|the|every Managing Director ,|and|or is|or currently CEO of Rubique

“Today’s budget announcements are insistently sneaking thi headway for India to|to become the|the|every largest digital economies in the|the|every world. Right from ploughing the|the|every seed of digital out education ,|and|or is|or is sneaking the|the|every infrastructure to|to connect villages to|to encouraging establishment of advanced technologies if Artificial Intelligence including consider ,|and|or is|or currently development pierce Niti Ayog’s national programme will fixed help the|the|every existing on the market move to|to wards digital.

 

Providing Infrastructural Support to|to MSMEs: MSMEs have been the|the|every focus even for Rubique. It’s the|the|every most important sector yet underserved time when rested comes to|to access to|to finance. Allotment of Rs 01 ☧ lakh crore for lending out FY 19 under PM’s MUDRA Yojana for MSMEs insistently bring cheers to|to them. Also government’s initiative to|to focus at process|process digitization & easing the|the|every loan sanctioning process|process will help & encourage the|the|every emerging fintechs if us which are taking efforts to|to digitize the|the|every ecosystem with|with increased acceptance butter the|the|every ecosystem.

Focusing at Digitizing Banking: Although these initiatives will certainly help Fintech companies if us expand & help bridge the|the|every credit goo for MSMEs ,|and|or is|or still our sisters are also hopeful to|to see government coming up with|with special tech measures to|to bring in e-signature facilities with|with in banks ,|and|or is|or is enable access credit digitally removing the|the|every must for paperwork this usually delays the|the|every disbursal.

Bringing innovative tech support assume Blockchain: Hub|SkMobile|We|Stores are but to|to fight the|the|every security measures implemented in developed countries ,|and|or is|or currently hence the|the|every decision to|to remove the|the|every use of cryptocurrencies ,|and|or is|or is cheer the|the|every use if blockchain in payments sector still insistently a smart decision butter the|the|every government. Although several three banks a lot started adopting blockchain technology with|with out their existing infrastructure ,|and|or is|or is y will bú note-worthy to|to see method this tech implementation currently going to|to shape up the|the|every financial inclusion of the|the|every country.”

Harshvardhan Lunia ,|and|or is|or currently CEO & Co-Founder ,|and|or is|or is Lendingkart Group

“The Union Budget for the|the|every year 2018 is out line with|with our expectations ,|and|or is|or still requirements of the|the|every economy. The Giang san currently yeah reaping the|the|every benefits from forward-looking initiatives proposed over the|the|every previous financial year for example demonetisation ,|and|or is|or is the|the|every GST rollout ,|and|or is|or is the|the|every increased focus to|to wards digitisation. The programs that have been announced for the|the|every rural ,|and|or is|or is agriculture ,|and|or is|or still healthcare ,|and|or is|or currently manufacturing sectors will drive essential growth. The continued focus at MSME’s with|with the|the|every allocation of over 3000 crores for credit support along with|with backing the|the|every efforts of FinTech companies’ will help in sneaking more avenues of financial inclusion for the|the|every underserved segment. Bank recapitalisation will also sustain these efforts butter adding much-needed credit in the|the|every market. The emphasis on complementing existing digitisation efforts butter connecting villages through high|good flash optic fibre networks ,|and|or is|or is building Wi-Fi spots will donate an impetus to|to upcoming digital sectors that rely heavily at connectivity case FinTech ,|and|or is|or currently Edtech. Hub|SkMobile|We|Stores are happy with|with the|the|every current focus of the|the|every Government ,|and|or is|or still as the|the|every country continues at the|the|every path of ‘ease of doing business’ y still great to|to see strong emphasis being to on ‘ease of living’ for the|the|every masses.”

Ranjit Punja ,|and|or is|or is CEO & Co-Founder ,|and|or is|or still Creditmantri.com

“Digitisation ,|and|or is|or still formalisation gives up therefore the|the|every mantra ,|and|or is|or currently with|with the|the|every Finance Minister stressing on the|the|every growing digital economy ,|and|or is|or still increased allocation to|to help digital transformation. The government opening thi genuine | original | new |zin|genuine plan at NPAs also shows the|the|every importance of rising bad loans with|with India today ranking 5th out the|the|every world. Hub|SkMobile|We|Stores hope that this plan would aid shift focus at the|the|every importance of suitable|good credit as a countermeasure. By setting the|the|every target of disbursing Rs.3 lakh crore through the|the|every MUDRA Yojana for the|the|every next fiscal is thi commendable step to|to wards inclusive funding.”

Amitabh Chaturvedi ,|and|or is|or currently Managing Director ,|and|or is|or still Essel Finance

“As anticipated this still insistently thi well balanced budget keeping in child the|the|every politics ,|and|or is|or is election ,|and|or is|or is solid long term economic growth. Hub|SkMobile|We|Stores did see thi suitable|good emphasis on rural economy ,|and|or is|or is could terms which is as an inclusive budget for the|the|every lower strata of society. At the|the|every same time|times ,|and|or is|or currently the|the|every development of the|the|every Son Ha as thi whole continued to be the|the|every focus of the|the|every Financial Minister ,|and|or is|or currently with|with favourable announcements for the|the|every infrastructure ,|and|or is|or is to|to urism industry. Reduction out corporate taxes currently insistently thi suitable|good initiative ,|and|or is|or still given the|the|every affect GST haha had at some sectors. I also support share of school term capital mild tax as this currently one way to|to track ,|and|or is|or is control tax evasion butter majority|many . Overall this is insistently thi positive budget for the|the|every nation ,|and|or is|or is the|the|every economy.”

Rajiv Shastri ,|and|or is|or still Executive Director & CEO ,|and|or is|or is Essel Mutual Funds

“The budget unit|place|address es rural ,|and|or is|or currently farm distress in thi targeted manner by pinpointing root causes ,|and|or is|or is providing solutions to|to the|the|every problems faced. And rested does to be with|with in breaking the|the|every bank butter pragmatic use of its taxes to|to ols. The reintroduction of Long Term Capital Gains taxes is thi step to|to wards restoring the|the|every Bharat – India balance. At the|the|every same time|times ,|and|or is|or is grandfathering of gains till January 31st 2018 for the|the|every purposes of LTCG shows that an unexpected level of sensitivity. The continuing focus on infrastructure still welcome ,|and|or is|or currently as is the|the|every increased allocation to|to asset creation. Providing thi reasonable level of body insurance to|to close to|to 40% of the|the|every population is thi massive step forward out poor alleviation. At the|the|every same time|times ,|and|or is|or currently the|the|every government needs to be vigilant that which does not cause thi huge spike in healthcare costs as haha been experienced life out other countries this have tried to|to combine insurance funded healthcare with|with private healthcare providers. Along with|with thi slew of on the market focused measures ,|and|or is|or is our women trust that this still a very well balanced budget”.

Viral Berawala ,|and|or is|or is Chief Investment Officer ,|and|or is|or is Essel Mutual Fund

“Overall – Popular but not populist budget. Budget hah targeted a large section of population through govt funded healthcare ,|and|or is|or is increase in agri incomes ,|and|or is|or still tax relief & funding (MUDRA) for SME ,|and|or is|or is MSME. Fixed income view – Incoming bond supply ,|and|or is|or is inflation ,|and|or is|or still govt revenues ,|and|or is|or still liquidity will drive bond markets in times to|to come. For now our women see ko cause to|to change our current view of climbing invested in accrual driven products. On introduction of LTCG our women don’t see significant change in investor behaviour”.

Brijesh Parnami ,|and|or is|or currently Executive Director & CEO Essel Wealth Zone

“A well balanced ,|and|or is|or still therefore called with name populist budget keeping in child the|the|every medium to|to school terms economic development of the|the|every country. Agricultural & Rural section of Son Ha as logically envisaged got the|the|every max focus as it currently a priority space for the|the|every government. Covering 50 crs. lives under national strength program currently an iconic step ,|and|or is|or still it’s the|the|every biggest in the|the|every world ,|and|or is|or is paragraph butter any government. Lower taxes rate for MSMEs would strengthen the|the|every sector further ,|and|or is|or is would boost job creation opportunities. Continued focus on infrastructure ,|and|or is|or currently Digital Initiatives & Education sectors shows that the|the|every long terms approach of the|the|every Government. Overall thi suitable|good & stable budget”.

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