India - Stack, A set of APIs (Application Programming Interface) One of the best of what India has created.

 WHAT IS INDIA STACK

IndiaStack is a set of APIs (Application Programming Interfaces) that allows governments, businesses, startups and developers to utilise an unique digital Infrastructure to solve India’s hard problems towards presence-less, paperless, and cashless service delivery. 

Its founded on core principles that services can be 

1. Presenceless = capable of being authenticated from anywhere
2. Paperless = reliant on digital records
3. Cashless = truly universalising the access and usage of digital payments 
4. Consent based = allowing secure movement of data authenticated by its owners.

THE EVOLUTION OF INDIA STACK 

1. 2009 - UIDAI was created with objective to issue Unique Identification Numbers named as "Aadhaar"
2. 2010 UIDAI launched Aadhar Authentication API before the first Aadhaar was issued 
3. 2011 NPCI launched Aadhar Payments Bridge and Aadhaar Enabled Payments System which uses Aadhar Number as a central key for electronically channelizing the Government Benefits and subsidies 
4. 2012 UIDAI launched eKYC which allows business to perform Know Your Customer verification process digitally using Biometric or Mobile OTP
5. 2015 CCA launches eSign as an open API to facilitate an Aadhar holder to digitally sign a document and MeitY launches Digital Locker, a platform for issuance and verification of documents and certificates in a digital way, thus eliminating the use of physical documents 
6. 2016 NPCI launches Unified Payments Interface, the most advanced payments system in the world to revolutionise digital payments in India 
7. 2016 NeGD launches Digital Locker a platform for issuance and verification of documents and certificates in a digital way. 

(Source : The India Fintech Report 2020)

The Very Different Approach 

India has chosen to have a very different approach to open banking. Unlike many other geographies where instant payment initiatives are running parallel to open data initiatives, India flipped the equation by implicitly launching open banking payments first on what is now widely considered the best real-time payment network in the world. 

Based on the success of IndiaStack, over 20 countries have shown interest in studying and implementing a digital identity system inspired by Aadhar and the software stack built around it. 

In 2018 Singapore and India had signed a high level agreement to internationalise the IndiaStack which resulted in creation of a joint working group on Fintech to develop API based platforms in ASEAN region. 

A number of countries and international agencies such as the World Bank and Gates Foundation  have also approached India with help to build digital identity. 

 Visit the website of IndiaStack here

(Disclaimer : This blog is for educational purposes only. Please read further disclaimers at the bottom of this webpage)

What is PLI Scheme. How does it benefit the Indian Economy.

PLI Scheme 

The Union Cabinet on the 11th of November 2020 approved Production Linked Incentive (PLI) scheme worth up to Rs 1.46 lakh crore for 10 key sectors in a bid to boost India’s manufacturing capabilities and enhancing exports. The scheme will make Indian manufacturers globally competitive, attract investment and enhance exports.

The decision of the Union Cabinet was announced by information and broadcasting minister Prakash Javadekar along with finance minister Nirmala Sitharaman in New Delhi.

The aim is to give the right impetus to the Indian economy to enable the nation to plug into global supply chains, Sitharaman told reporters. There is no cap on the number of companies that will be eligible for PLI under each category for now, she added.

The manufacturing sector currently contributes 16% to India’s GDP, Javadekar said adding that the idea was to increase this share. Among sectors, auto components and automobile sectors have received the maximum incentive of ₹57,000 crore, Javadekar said.

Key Features 

It is a scheme that aims to give companies incentives on incremental sales from products manufactured in domestic units.

The scheme invites foreign companies to set units in India, however, it also aims to encourage local companies to set up or expand existing manufacturing units.

Benefits

1. The PLI scheme will make Indian manufacturers globally competitive,attract investment in the areas of core competency and cutting-edge technology; ensure efficiencies; create economies of scale; enhance exports and make India an integral part of the global supply chain.
2. India is expected to have a USD 1 trillion digital economy by 2025. Additionally, the Government's push for data localisation, Internet of Things, projects such as Smart City and Digital India are expected to increase the demand for electronic products.
3. India is the world's second largest steel producer in the world. It is a net exporter of finished steel. A PLI scheme in Specialty Steel will help in enhancing manufacturing capabilities for value added steel leading to increase in total exports.
4. Telecom equipment forms a critical and strategic element of building a secured telecom infrastructure and India aspires to become a major original equipment manufacturer of telecom and networking products.
5. The growth of the processed food industry leads to better price for farmers and reduces high levels of wastage.

(Disclaimer : This blog is for information purposes only)

GIG Economy - tends in India and Govt. initiatives

What is it? 

Gig workers are independent contractors online platform workers, contract firm workers, on call workers and temporary workers.  Gig workers enter into formal agreements with on-demand companies to provide services to the company's clients.

Background

In the 2000s, the digitalisation of the economy and industry was carried out rapidly due to the development of information and communication technologies such as the Internet and the popularisation of smartphones.

As a result, on-demand platforms based on digital technology have created jobs and employment forms that are differentiated from existing offline transactions by the level of accessibility, convenience and price competitiveness.
In general, "work" is described as a full-time worker with a set working hours, including benefits.

But the definition of work began to change with changing economic conditions and continued technological advances, and the change in the economy created a new labor force characterised by independent and contractual labor, such as well.

Job Economy vs GIG Economy 

How is it different?

In a Gig Economy, employees work on a contractual basis, which exists outside its traditional employment. The jobs are flexible, on a temporary basis, and mostly creating networks digitally.

People start making a living by taking multiple job roles which are project based, and it’s definitely fun since they do what they want to and whenever they wish to. No limitations.

Some are already a part of this GIG ECONOMY like Cab drivers, delivery and some are freelancers like web designers, content writers and the other talent gigs.
Teachers, sales person, independent contractors, consultants, artists are few more examples of common gig workers.

INDIA'S GIG Economy - projections 

New Platform - by the Govt. - for GIG workers on the anvil

The draft rules of the labour code on social security unveiled on Sunday by the Centre (Govt. of India) has suggested establishing a national platform, man database and monitor progress, while states will create policies to provide social security benefits to gig and informal sector workers on a self-registration basis.

• Under the Code on Social Security (Central) Rules, 2020 all unorganised sector workers will have to update their particulars on a portal specified by the Govt
• Gig firms will be required to make an annual contribution by June 30 of every year for the social security of gig and platform workers
• The rules have been framed for the implementation of the provisions of the Code on Social Security, 2020, which was passed by Parliament in September

(Disclaimer : This blog is for information purposes only)

Cryptocurrency in India 2020

Recent History

With the popularisation of internet technologies, virtual currency - called as cryptocurrency came into existence.

As cryptocurrency became popular, people started investing and trading in these. The trades happened across the globe even though these trades were not regulated. (including in India)

Hence acting in the interest of consumers, the govt. cautioned people about the risks in dealing in cryptocurrencies. 

Reserve Bank notification and court case 

The Reserve Bank of India through its notification dates 06.04.2018 prohibited dealing of virtual currencies in India (including cryptocurrencies).

However the Supreme Court of India in case of Internet and Mobile Association of India vs Reserve Bank of India, set aside the RBI notification of 06.04.2018. 

Current Exchanges of Cryptocurrencies in India (a few)

1. CoinSwitch 
2. CoinDCX
3. ZebPay
4. WazirX
5. Unchain

New Bill - proposed- by the Govt. 

In 2019 the Department of Economic Affairs, Govt Of India has proposed a draft bill called the "Cryptocurrency and Regulation of Official Digital Currency Bill" 

Not only does this intend to ban use of all private cryptocurrencies but also suggests a blockchain based central digital currency (digital rupee maybe).

This development, if this bill as proposed becomes a law, will then change the way cryptocurrencies are currently held and traded in India. 

(Disclaimer : This blog is for educational purposes and not to sollicit any business and provide any kind of advise.)

On India's Independence Day look at IndiaStack the best of what India has created

WHAT IS INDIA STACK

IndiaStack is a set of APIs (Application Programming Interfaces) that allows governments, businesses, startups and developers to utilise an unique digital Infrastructure to solve India’s hard problems towards presence-less, paperless, and cashless service delivery. 

Its founded on core principles that services can be 

1. Presenceless = capable of being authenticated from anywhere
2. Paperless = reliant on digital records
3. Cashless = truly universalising the access and usage of digital payments 
4. Consent based = allowing secure movement of data authenticated by its owners

THE EVOLUTION OF INDIA STACK 

1. 2009 - UIDAI was created with objective to issue Unique Identification Numbers named as "Aadhaar"
2. 2010 UIDAI launched Aadhar Authentication API before the first Aadhaar was issued 
3. 2011 NPCI launched Aadhar Payments Bridge and Aadhaar Enabled Payments System which uses Aadhar Number as a central key for electronically channelizing the Government Benefits and subsidies 
4. 2012 UIDAI launched eKYC which allows business to perform Know Your Customer verification process digitally using Biometric or Mobile OTP
5. 2015 CCA launches eSign as an open API to facilitate an Aadhar holder to digitally sign a document and MeitY launches Digital Locker, a platform for issuance and verification of documents and certificates in a digital way, thus eliminating the use of physical documents 
6. 2016 NPCI launches Unified Payments Interface, the most advanced payments system in the world to revolutionise digital payments in India 
7. 2016 NeGD launches Digital Locker a platform for issuance and verification of documents and certificates in a digital way. 

(Source : The India Fintech Report 2020)

India has chosen to have a very different approach to open banking. Unlike many other geographies where instant payment initiatives are running parallel to open data initiatives, India flipped the equation by implicitly launching open banking payments first on what is now widely considered the best real-time payment network in the world. 

Based on the success of IndiaStack, over 20 countries have shown interest in studying and implementing a digital identity system inspired by Aadhar and the software stack built around it. 

In 2018 Singapore and India had signed a high level agreement to internationalise the IndiaStack which resulted in creation of a joint working group on Fintech to develop API based platforms in ASEAN region. 

A number of countries and international agencies such as the World Bank and Gates Foundation  have also approached India with help to build digital identity. 

(Source : The India Fintech Report 2020)

 Visit the website of IndiaStack here

(Disclaimer : This blog is for educational purposes only. Please read further disclaimers at the bottom of this webpage)

Govt. of India introduces Import embargo on 101 items beyond given timelines to boost indigenisation of defence production.

The Department of Military Affairs (DMA), Ministry of Defence (MoD) has prepared a list of 101 items for which there would be an embargo on the import beyond the timeline indicated against them. To take a detailed look at these products Read Here

This is a big step towards self-reliance in defence. 

The list of 101 embargoed items comprises of not just simple parts but also some high technology weapon systems like 

• artillery guns, 
• assault rifles,
•  corvettes,
•  sonar systems,
•  transport aircrafts,
•  light combat helicopters (LCHs),
•  radars 

and many other items to fulfil the needs of our Defence Services. 

The list also includes, wheeled armoured fighting vehicles (AFVs) with indicative import embargo date of December 2021, of which the Army is expected to contract almost 200 at an approximate cost of over Rs 5,000 crore (US$ 709.32 million). 

Similarly, the Navy is likely to place demands for submarines with indicative import embargo date of December 2021, of which it expects to contract about six at an approximate cost of almost Rs 42,000 crore (US$ 5.96 billion). 

For the Air Force, it is decided to enlist the light combat aircraft LCA MK 1A with an indicative embargo date of December 2020. Of these, 123 are anticipated at an approximate cost of over Rs 85,000 crore (US$ 12.06 billion). 

The embargo on imports is planned to be progressively implemented between 2020 to 2024. 

More such equipment for import embargo would be identified progressively by the DMA in consultation with all stakeholders.

A due note of this will also be made in the Defence Acquisition Procedure (DAP) to ensure that no item in the negative list is processed for import in the future.

In another relevant step, the MoD has bifurcated the capital procurement budget for 2020-21 between domestic and foreign capital procurement routes. 

A separate budget head has been created with an outlay of nearly Rs 52,000 crore (US$ 7.38 billion) for domestic capital procurement in the current financial year.

INDIA'S MILITARY EXPENDITURE (1995-2018)

SOURCE : TRADINGECONOMICS

KEY DEFENCE STOCKS IN INDIA 

Ashok Leyland – because it is one of the top suppliers of vehicles to the Indian Army.

• Astra Microwave – because it supplies microwave-bases high value radio frequency super components.
• Bharat Forge – because it may soon be supplying artillery guns to the Indian military.
• BEML – because it supplies ground support equipment and has potential for long term growth.
• Bharat Electronics – because it supplies communications equipment such as radars and other military communications.
• Bharat Dynamics – because it is a government enterprise that supplies the MoD with missiles, torpedoes and allied defense equipment.
• Larsen & Toubro – because it represents the ministry of defense’s big guns, literally! The government calls upon L&T for various services including design, development, manufacturing and assembly of arms, armaments and even submarines.
• Reliance Naval & Engineering – because it has a warship repair agreement when the MoD.
• Rolta India – because it provides the MoD with geospatial solutions.

DISCLAIMER : This blog is for information purposes only.  For further detailed please disclaimer read at the end of the website.

Categories of Mutual Funds as defined by SEBI - Securities and Exchange Board of India

Stocks - The New SEBI Definition.

SEBI - Securities and Exchange Board of India in its circular dated October 6, 2017 has changed the definition of Large Cap, Mid Cap and Small Cap stocks as follows ( excerpt from the circular mentioned below, to read the circular click on the link given below)


Definition of Large Cap, Mid Cap and Small Cap:
7. In order to ensure uniformity in respect of the investment universe for equity
schemes, it has been decided to define large cap, mid cap and small cap as follows:

1. Large Cap: 1st -100th company in terms of full market capitalization
2. Mid Cap: 101st -250th company in terms of full market capitalization
3. Small Cap: 251st company onwards in terms of full market capitalization
   https://www.amfiindia.com/Themes/Theme1/downloads/1507291273374.pdf
   
   
   ________________________________________________________________
   
   
   Consequently the Large cap stocks ( data as on June 30th, 2018) are mentioned below (for categorisation of more stocks refer to the link https://www.amfiindia.com/research-information/other-data/categorization-of-stocks)

TATA CONSULTANCY SERVICES LTD.

RELIANCE INDUSTRIES LTD

HDFC BANK LTD.

ITC LTD

HINDUSTAN UNILEVER LTD.,

HOUSING DEVELOPMENT FINANCE CORP.LT

MARUTI SUZUKI INDIA  LTD.

INFOSYS LTD

OIL AND NATURAL GAS CORPORATION LTD

STATE BANK OF INDIA,

KOTAK MAHINDRA BANK LTD.

ICICI BANK LTD.

LARSEN & TOUBRO LIMITED

COAL INDIA LIMITED

INDIAN OIL CORPORATION LTD.

BHARTI AIRTEL  LTD.

NTPC LIMITED

AXIS BANK LTD.

HCL TECHNOLOGIES LTD

WIPRO  LTD.,

HINDUSTAN ZINC LTD.,

SUN PHARMACEUTICAL INDUSTRIES LTD.

ASIAN PAINTS LTD.

TATA MOTORS LTD.

ULTRATECH CEMENT LTD

VEDANTA LIMITED

BAJAJ FINANCE LIMITED

INDUSIND BANK LTD.

POWER GRID CORPORATION OF INDIA LIMITED

MAHINDRA & MAHINDRA LTD.

HDFC STANDARD LIFE INSURANCE COMPANY LIMITED

BHARAT PETROLEUM CORPN. LTD.,

BAJAJ AUTO LIMITED

BAJAJ FINSERV LIMITED

AVENUE SUPERMARTS LIMITED

NESTLE INDIA LTD.

ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD

TITAN COMPANY LIMITED

EICHER MOTORS LTD.

YES BANK LTD.

JSW STEEL LIMITED

GODREJ CONSUMER PRODUCTS LTD.

HERO MOTOCORP LIMITED

GRASIM INDUSTRIES LTD.,

GAIL (INDIA) LTD.

MOTHERSON SUMI SYSTEMS LTD.,

SBI LIFE INSURANCE COMPANY LIMITED

TATA STEEL LIMITED

GENERAL INSURANCE CORPORATION OF INDIA

DABUR INDIA LTD.

BRITANNIA INDUSTRIES LTD.,

TECH MAHINDRA LIMITED

BHARTI INFRATEL LIMITED

BANDHAN BANK LIMITED

SHREE CEMENTS LTD.,

ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED

BOSCH LTD

ZEE ENTERTAINMENT ENTERPRISES LTD.

THE NEW INDIA ASSURANCE COMPANY LIMITED

HINDALCO INDUSTRIES LTD.

INDIABULLS HOUSING FINANCE LIMITED

HINDUSTAN PETROLEUM CORPORATION LTD

PIDILITE INDUSTRIES LTD.

INTERGLOBE AVIATION LIMITED

UNITED SPIRITS LIMITED

AMBUJA CEMENTS LTD.

CIPLA LTD.,

PIRAMAL ENTERPRISES LIMITED

ASHOK LEYLAND LTD.,

MARICO LIMITED

CADILA HEALTHCARE LTD.

SIEMENS LTD.,

NMDC LTD

DLF LIMITED

LUPIN LTD

UPL LIMITED

BIOCON LTD.

SUN TV NETWORK LIMITED

DR. REDDY'S LABORATORIES LTD.,

AUROBINDO PHARMA LTD.

BANK OF BARODA

ICICI LOMBARD GENERAL INSURANCE COMPANY LIMITED

BHARAT ELECTRONICS LTD.,

HINDUSTAN AERONAUTICS LIMITED

PETRONET LNG LTD.

ADITYA BIRLA CAPITAL LTD

ORACLE FINANCIAL SERVICES SOFTWARE LIMITED

STEEL AUTHORITY OF INDIA LTD.,

HAVELLS INDIA LIMITED

BHARAT FORGE LTD

SHRIRAM TRANSPORT FINANCE CO. LTD.,

CONTAINER CORPORATION OF INDIA LTD.

L&T FINANCE HOLDINGS LIMITED

BHARAT HEAVY ELECTRICALS LTD.,

M.R.F. LTD.,

IDEA CELLULAR LTD

PROCTER & GAMBLE HYGIENE & HEALTH CARE LTD.

BAJAJ HOLDINGS & INVESTMENT LIMITED

TVS MOTOR COMPANY LTD.

COLGATE-PALMOLIVE (INDIA) LTD.,