A Look Back At Some Of The Biggest Economic Events Of 2016 And Early 2017

We wanted to give our readers something informative yet different and thought what better way for that than with a quick recap of the major events from 2016 to early 2017 from across the globe, India and us at KredX. 2016 has been quite a rollercoaster ride for the world and us in India. From terrifying events to groundbreaking changes and new opportunities, it certainly was a mixed bag of emotions. Let’s take a look back at some of the most impactful stories from the last year and early 2017.

Part II of our interview with Dr. Barman

Interview: In Conversation With The Man Behind The Indian Digital Payment Revolution, Dr. R. B. Barman (Part II)

This is Part II of a two-part series

Recently, KredX had an opportunity to chat with the man responsible for the introduction of digital payment services in India, Dr. R. B. Barman, who is also an advisor to KredX. Dr. Barman is the Chairman of the National Statistical Commission, Advisor to the National Payments Corporation of India (NPCI) and has also served as the Executive Director of RBI, among the various positions he has held during the span of his illustrious career.

Part I of our interview with Dr. Barman

Interview: In Conversation With The Man Behind The Indian Digital Payment Revolution, Dr. R. B. Barman (Part I)

With India shifting towards a cashless economy, digital payments are the need of the hour. The government has introduced several schemes and projects to further provide an impetus to the fast-growing digital payment sector of the country. To think that RTGS, NEFT, NECS, Mobile Payments, ATMs were introduced only in the 2000’s, India certainly has come a long way since then in mobile and digital payments! Recently, KredX had an opportunity to chat with the mastermind responsible for the introduction of these payment services in India, Dr. R. B. Barman, who is also an advisor to KredX.

GST 2017 - One Nation, One Tax, 8 Tax Rates

GST 2017 – One Nation, One Tax, 8 Tax Rates

As the country inches closer to the final rollout of GST, economists, financial experts and entire industries are preparing themselves for the potential impact GST would have on the various sectors. GST, touted as one of the most revolutionary bills to ever be implemented, is expected to benefit the common man and make a positive impact on most industries barring a few. Let’s take a quick look at the tax rates and tax slabs recently announced by the GST Council.

Would Apple Setting Up Shop In India Do Good For The SME Industry?

Would Apple Setting Up Shop In India Do Good For The SME Industry?

Tech giant, Apple Inc.’s plans to set up an iPhone SE manufacturing plant in Bengaluru is still in talks. The iPhone maker’s request for tax relief and exemption from customs duty on imported components and equipment for 15 years is being looked into by the Ministry of Commerce and Industry, and the Ministry of Finance. The PMO is expected to make the final decision about the proposal, though it is expected to be a favorable one. If Apple has its way, would it have a positive impact for the country and the SME industry in particular?

Should India Press For A Unified GST Tax Rate?

Should India Press For A Unified GST Tax Rate?

On 19 December 2014, the Goods and Service Tax (GST) Bill was introduced in the Parliament for the first time. GST promised a unified market and an unparalleled economic growth that India had never witnessed before. But amidst all that, the idea of GST in the years since it was first introduced, underwent multiple changes at the hands of bureaucratic committees. It is common for reforms of this magnitude to be debated over and continuously evolve, but will the decision to introduce six different tax rates instead of a single tax rate dilute the effect of GST?

Has the Credit Guarantee Scheme Really Helped The SME Industry?

Has The Credit Guarantee Scheme Really Helped The SME Industry?

The improving SME landscape in India is a testament to the efforts of the government through the years. In the past, applying for funding or availing loans for SME’s was no easy task. To help with this issue, the Government of India and the Small Industries Development Bank of India (SIDBI) set up the Credit Guarantee Fund Trust for Small and Micro Enterprises (CGTMSE) in August, 2000 under the Credit Guarantee Scheme (CGS). The CGTMSE was introduced with an intention to allay all issues surrounding loans and funding within the small, micro and medium enterprises segment. The scheme sent out directives to banks wherein they were required to sanction loans of up to Rs.1 Crore without collaterals or third party guarantee to SME’s. While the introduction of the scheme brought about some much needed changes within the sector, there were still a number of shortfalls.