Ngulminthang Lhanghal - Financial Expert

 The global pandemic of the Covid-19 crisis is at its peak in the current situation, putting its worst impacts on the worldwide economy as well as international trade. Whether you are running a small enterprise or a big established organization, ensuring successful business operations requires an efficient amount of working capital, which seems to be a difficult task amid Covid-19 leading to a decrease in demand & supply.  Thereby it is essential for every individual to not only know about different types of investment for ensuring financial stability but also make healthy & result-oriented investments that can be liquidated on short notice in case of any type of financial crisis. In this blog, we are explaining the best types of investments that work well for you to cope up with financial emergencies. Read more: https://www.apsense.com/article/top5-investments-that-you-can-liquidate-easily-in-financial-crisis.html

 Malaysian FinTech, MyMy Payments, has received conditional approval for a large scheme Electronic Money License from the Bank Negara. MyMy is anticipated to launch its e-wallet services in the coming months, the company said in a statement. “Our plans to become the world’s first Shariah-compliant digital bank is still within our sights and will take its form with the right conditions set by our committee and our consortium partners. Since receiving our investment from Koperasi Tentera, we have been working diligently on utilising digital financial services for the betterment of the co-operative community and the larger population covering the different segments of our multicultural Malaysians,” said Ahmad Burhannudin, chairman of MyMy, according to media reports. The company’s announced that until all required conditions are met (as specified by Bank Negara), MyMy will remain reserved regarding its plans for its complete product offering. MyMy also went on to state that it will of...

  As per the report published by Groupe Speciale Mobile Association (GSMA), more than 5.1 million people were engaged in mobile-related activities by the end of 2018 and it is estimated that these figures are likely to reach up to 5.9 million people by 2025. There is no surprise at all that the mobile economy has undergone a huge transformation over the last few years and why not? It enables us to search, initiate & complete any type of online transaction anytime from anywhere, right from ordering online to booking air tickets and many more, it all happens in just a few clicks.     In today's era of technology, consumers are looking for the same level of convenience in every service sector apart from e-commerce businesses. And thereby various financial and non-financial service providers are shifting towards “mobile banking” and developing their mobile apps for facilitating advanced, cutting-through, and required assistance to their customers domestic as wel...

  The global pandemic of Covid-10 has compelled individuals as well as businessmen from all over the world to reconsider their financial plan, restructure investments, savings and enable them to find new ways to diversify their portfolio risks. There is no doubt that the process of building an effective and result-oriented financial plan starts with the proper understanding of financial instruments. But FD i.e Fixed Deposits have always been one of the most frequently used, safest, and smartest finance choices among corporate businesses and also individuals that deserve to be in their investment portfolio.  The foremost reason for considering FD as an investment option is its assured guarantee of getting returns. Although the falling interest rates on FDs and day-to-day curiosity towards other investment instruments like equities, most of the investors are shifting their investing preferences to market-linked products including mutual funds, etc. It can be a great move but thi...

  Trading goods or trade finance in the international market is one of the most difficult procedures in enterprise finance. According to a report issued by Maersk, around 200 documents are exchanged among global trade entities ie. importers & exporters regularly including payments, letters of credit, foreign exchange, shipping documents ie. bills of lading, and various import/export documents, etc. For a successful transaction, all these documents are required to be approved by multiple parties including suppliers, manufacturers, customers, distributors, and various government agencies, etc. Apart from this, the process of obtaining any type of credit for a potential trading partner is also quite complex, time-consuming as well as generally conducted manually. And this is the reason behind the popularity of risk-mitigating trade finance products such as Letters of Credit.  Additionally, it is estimated by the International Chamber of Commerce (ICC) that over 4 million page...

  To develop a solution that will further tackle the tasks of overseeing and managing digital original documents through the use of DLT (distributed ledger technology), Finastra announced the incorporation of its Fusion Trade Innovation with Enigio’s trace: original on March 30, 2021. The conclusive app eliminates the requirement of a central registry or document registry. It will be performed through Finastra’s FusionFabric.cloud open developer platform and is anticipated to facilitate various advantages including straight-through processing and machine readability for accelerated turnaround times and more limited servicing lead times.  Iain MacLennan, VP Trade and Supply Chain Finance at Finastra explained, “The open incorporation of Enigio’s trace: original with Fusion Trade Innovation enables banks to smoothly produce traceable documents, with the crucial advantages that this ensures boosted efficiency, decreased costs, and increased security against fraud.” Further added,...

 It’s fun to watch young children learn to handle cash by buying an ice cream and giving us back the change. But there will be nothing adorable about being surrounded by machines that need equally patient hand-holding when it comes to using money, like making sure our refrigerator stocks up the right vegetables in correct quantities before it pays the delivery robot. Doing this every day with each of our 15 online devices will mean we do nothing else in our internet-of-things future. The conventional financial system will be of little help. Banks can clear fast payments. With the backing of the legal system, intermediaries can make our appliances honor and enforce obligations. However, when it comes to making payments that are contingent upon the delivery of a product, service or asset, the existing technology will become overwhelmed when everything gets connected. Read more: https://economictimes.indiatimes.com/news/economy/finance/your-money-will-be-digital-will-it-be-smart/artic...

 Given the revenue constraints and an evolving Covid-19 situation, the Centre has allowed the state governments to borrow 75% of their annual market borrowing limit of 4% of their respective Gross State Domestic Product (GSDP) in the first nine months of the current fiscal, a senior finance ministry official told FE. This compares with the permission given to them to borrow up to 50% of the annual threshold in the year-ago period. Coupled with the central government securities, the state development loans could boost supplies, leading to hardening of bond yields in the coming few months, unless the RBI steps up open market operations, analysts feel. The idea behind the Centre’s move is to enable states, which had bucked the trend in the last fiscal by reporting an year-on-year decline in capex, to regain spending momentum, even as they meet the rising spending commitments arising from the spike in Covid cases. Conventionally, the states’ borrowing used to be capped at 3% of GSDP or...

 Mastercard has announced the joining of Shehryar Ali as Country Manager for East Africa. In this role, he will be responsible for managing Mastercard’s operations in the region including Kenya and Tanzania, reporting to Raghav Prasad, Division President Sub Saharan Africa. “It is an absolute pleasure to welcome Shehryar as a member of the Sub-Saharan African team. From a financial and digital perspective, Shehryar’s leadership will be invaluable in driving the Mastercard vision and strategy in the East Africa region. We are confident that with Shehryar’s vast experience, we will continue to be at the forefront of introducing pioneering products and finding innovative solutions for our customers and partners’ business requirements,” said Raghav Prasad, Division President Sub Saharan Africa, Mastercard. Shehryar, with nearly 2 decades of experience driving financial and digital solutions in the region and working in well-reputed banks in Africa & Asia, brings with him a wealth o...

  Moneta Technologies ‘Amole’, Ethiopia’s mobile eWallet platform and Visa has announced a strategic partnership and the launch of the Amole eCommerce Gateway, using Visa CyberSource infrastructure that supports digital payments for merchants and banks. Through the collaboration, the companies seek to eliminate barriers to regional and cross-border commerce and offer an expanded set of e-Commerce capabilities to Amole merchants by enabling secure cashless payment solutions in Ethiopia and Kenya. Ethiopian banks licensed by international card associations can now use the Amole eCommerce Gateway to acquire international cards online on behalf of their merchants. “Today, with this partnership, we can accept digital payments from anywhere. As recently as 2018, a developer or business owner in Ethiopia did not have the ability to accept online payments until Amole introduced its open API platform in July 2018. We started Amole to become the payment and commerce platform t...

 Founded in 2017 by Silvio Micali, Algorand is a provider of open-source, permissionless, pure proof-of-stake blockchain protocol that enables the development of scalable blockchain solutions for real-world use cases. The FinTech is powering the DeFi evolution by enabling the creation and exchange of value, building financial tools and services, bringing assets on-chain and providing privacy models. Algorand is building the technology to power the Future of Finance (FutureFi), the convergence of traditional and decentralized models into a unified system that is inclusive, frictionless, and secure. Beyond the elementary requirement of an open, public network, Algorand’s technology enables a set of high performing Layer-1 blockchains that provide security, scalability, complete transaction finality, built in privacy, Co-Chains, and advanced smart contracts that are essential in a FutureFi world. Founded in 2011 by former international student Iker Marcaide as PeerTransfer, Flywire ...

 Finance Minister Nirmala Sitharaman on Tuesday said resumption of formal negotiations on India-EU trade deal during the leadership summit next month would help further strengthen ties with the European Union. Finance Minister Nirmala Sitharaman on Tuesday said resumption of formal negotiations on India-EU trade deal during the leadership summit next month would help further strengthen ties with the European Union. The negotiations between India and the European Union on a free trade agreement have been stalled since May 2013, when both sides failed to bridge substantial gaps on crucial issues, including data security status for the IT sector. The negotiations with the 27-nation grouping were launched in June 2007. Read more: https://www.financialexpress.com/economy/negotiations-on-india-eu-trade-deal-to-resume-next-month-fm-sitharaman/2232300/

 The Reserve Bank of India (RBI) has enhanced the temporary liquidity limit for states and union territories by about 46% to help them tide over their cash flow mismatches. The central bank provides this support to governments under its ways and means advances (WMA) mechanism. The new limit has been fixed at Rs 47,010 crore, compared with the previous Rs 32,225 crore. RBI also said that the interim WMA limit of Rs 51,560 crore would be extended for another six months to September 30, 2021.  These measures would address any temporary mismatches in cash flow of receipts and payments of local governments. Read more:  https://economictimes.indiatimes.com/news/economy/finance/rbi-enhances-temporary-liquidity-limit-for-states-uts-by-around-46/articleshow/81946436.cms

 The trilateral trade between India, Israel and the UAE can propel to a high of USD 110 billion by 2030 by tapping into their mutual strengths, top diplomats and members of the business community have said. The comments were made at an event organised by the International Federation of Indo-Israel Chambers of Commerce (IFIICC) on Sunday to discuss the ongoing business collaborations being pursued through IFIICC's leadership across sectors.  “The international business potential backed by Israeli innovation, UAE's visionary leadership and strategic partnership of both nations with India could be USD 110 billion by 2030,” Ambassador Ilan Sztulman Starosta, Head of the Israeli mission in Dubai, said in a press release issued by IFIICC. Echoing similar sentiments, Ambassador of the UAE to India and Founding Patron of IFIICC, Dr Ahmed Abdul Rahman AlBanna, said, "UAE and India's bilateral trade is projected to grow from USD 60. Dr Aman Puri, Consul General of India to Dubai...