Forum Views - September 2023
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BOMBAY STOCK EXCHANGE BROKERS' FORUM (BBF) | MUMBAI, INDIA
SEPTEMBER 2023 | VOLUME: 12 • ISSUE NO. 6 •
Transition planning Success triad Crafting the future LinkedIn profile
SEBI tightens corporate governance norms Evolution of modern business
Structure of AIF documentation Businesses and natural disasters The case for law curriculum
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INSIDE:
Where action brooks no delay: emergency powers of SEBI
Nudges for investments
Family business
Sustainable tourism
Coffee conundrum
Massage therapy
FORUM VIEWS - SEPTEMBER 2023
FORUM VIEWS - SEPTEMBER 2023
EXECUTIVE COMMITTEE
GOVERNING BOARD MEMBERS
BOMBAY STOCK EXCHANGE BROKERS’ FORUM (BBF)
GOVERNING BOARD 2022 - 23
Anup Gupta
Sykes & Ray
Equities India Ltd.
Cyrus Khambata
Paytm
Money Ltd.
Madhavi Vora
ULJK Securities
Pvt. Ltd.
Naresh Rana
Vishwas Fincap
Services Pvt. Ltd.
Neeraj Choksi
NJ India
Invest Pvt. Ltd.
Nirav Gandhi
JM Financial
Services Ltd.
Nithin Kamath
Zerodha
Securities Pvt. Ltd.
Ajit Sanghvi
MSS Securities
Pvt. Ltd.
Parth Nyati
Swastika
Investmart Ltd.
S. P. Toshniwal
Sunlight
Broking LLP
HEMANT MAJETHIA
Vice Chairman | BBF
Ventura
Securities Ltd.
LALIT MUNDRA
Chairman | BBF
Suresh Rathi
Securities Pvt. Ltd.
HARIN MEHTA
Treasurer | BBF
M/S. V. C.
Mehta
KUSHAL A. SHAH
Jt. Secretary | BBF
Ratnakar
Securities Pvt. Ltd.
KISHOR KANSAGRA
Secretary | BBF
Pragya
Securities Pvt. Ltd.
Anurag Bansal
SMC Global
Securities Ltd.
Ashish Rathi
HDFC
Securities Ltd.
Dr. Pravin Bathe
Angel One Ltd.
Purav Fozdar
Axiom Share
Broking Pvt. Ltd.
Vivek Gupta
GEPL Capital
Pvt. Ltd.
Virender Mansukhani
Mansukh Securities
and Finance Ltd.
Uttam Bagri
BCB Brokerage
Pvt. Ltd.
Tejas Khoday
Fyers Securities
Pvt. Ltd.
Saurabh Jain
SSJ Finance &
Securities Pvt. Ltd.
Roopkishor Bhootra
Anand Rathi Shares &
Stock Brokers Ltd.
Santosh Jayaram
GROWW
FORUM VIEWS - SEPTEMBER 2023
FORUM VIEWS - SEPTEMBER 2023
Dr. Vispi Rusi Bhathena, PhD (h.c.)
Chief Executive Officer
Dr. V. Aditya Srinivas
Chief Operating Officer
and Chief Economist
FORUM VIEWS, SEPTEMBER 2023 edition
The Indian stock markets and the Indian economy both are witnessing strong support from the
macro-economic indicators. The RBI monetary policy came with no surprises as the Repo Rate was
kept unchanged at 6.5% for the third consecutive time. The inflation forecast has been slightly
elevated to 5.4% from the earlier forecast of 5.1%. The GDP projection has been kept unchanged
at 6.5%. This means that the Central Bank is quite confident that even though there are headwinds
in the global economy still the Indian economy variables are very strong.
F R O M
THE
BBF SECRETARIAT
The US Fed Reserve increased its benchmark interest rate at 25 basis point which was factored in by
the market. Now the US Fed rate range is 5.25% which is at 22 years high. The interest rates are near
their terminal level and if the inflation continues to fall then the interest rate journey will start
downwards. The US inflation is at 3% which was around 9% one year back.
GST collections for July 2023 at INR 1.65 lakh crores which is 11% higher than July 2022.
Manufacturing PMI index strong at 57.7 which shows that the manufacturing is also at strong
footing. The UPI transactions at 9.96 billion in July which is 58% more than last year’s July which
shows that more and more people are shifting towards digital payments which will also increase the
financial inclusion. Electricity consumption at 139 billion units compared to 128.2 billion units a year
ago is an indicator that the demand and consumption pattern is very strong and robust. Auto sales
at 3,52,500 units highest ever in July month.
The markets are witnessing strong flows from the Foreign Institutional Investors as they continue to
pure average INR 35000 crores each month in the last three months. The domestic mutual funds are
also witnessing good inflows from the retail investors as the SIP flows have been INR 14,700 crores
which shows the confidence of the retail investors in the Indian economy long term growth story.
From
to You...
BBF
FORUM VIEWS - SEPTEMBER 2023
BBF conducted OVER 30 SEMINARS towards investor
education and awareness initiatives which were attended
by MORE THAN 1600 participants.
FORUM VIEWS - SEPTEMBER 2023
10
Global
Insights
TRANSITION PLANNING -
KEY TOOL TO ACHIEVE NET ZERO
18
Your
Questions
Answered
SEBI TIGHTENS CORPORATE GOVERNANCE
NORMS THROUGH VERIFICATION OF
MARKET RUMOURS BY LISTED COMPANIES
THE SUCCESS TRIAD ALIGNING
STRATEGY, MINDSET AND ENERGETICS
CRAFTING THE FUTURE: NAVIGATING
BUSINESS SUCCESS THROUGH
BACKWARD MAPPING
LINKEDIN PROFILE: ANOTHER SOCIAL
MEDIA ACCOUNT, OR PROFESSIONAL
AND BUSINESS GROWTH TOOL?
ALTERNATIVE INVESTMENT FUNDS
IN INDIA - OVERSEAS INVESTMENTS
WHERE ACTION BROOKS NO DELAY:
EMERGENCY POWERS OF SEBI
Disclaimer: This magazine is meant for information purposes only and does not constitute any opinion or guidelines or recommendation on any course of action to be followed by the reader(s). It is not intended to be used as trading or
investment advice by anybody and should not in any way be treated as a recommendation. The information contained in this magazine does not constitute or form part of and should not be construed as, any offer for purchase or sale of
any product or service. While the information in the magazine has been compiled from sources believed to be reliable and in good faith, readers may note that the contents thereof including text, graphics, links or other items are
provided without warranties of any kind. Bombay Stock Exchange Brokers' Forum (BBF) expressly disclaims any warranty as to the accuracy, correctness, reliability, timeliness, merchantability or fitness for any particular purpose, of
this magazine. Bombay Stock Exchange Brokers' Forum (BBF) shall also not be liable for any damage or loss of any kind, howsoever caused as a result (direct or indirect) of the use of the information or data contained in this magazine.
Any alteration, transmission, photocopied distribution in part or in whole or reproduction of any form of this magazine or any part thereof without prior consent of Bombay Stock Exchange Brokers' Forum (BBF) is prohibited.
Concept, Production and Editorial: Dr. VISPI RUSI BHATHENA, PhD (h.c.)
Editor & Publisher: Dr. V. ADITYA SRINIVAS
Design & Layout: HARSHAD GAJERA
Printing Press: KSHITIJ PRINTERS, 49, Parsi Panchayat Road, Ashok Ind. Estate,
1st Floor, Andheri (East), Mumbai - 400 069
Write to us: We would be happy to hear from you! Do send in your suggestions, feedback and comments
via email to team@brokersforumofindia.com | Visit us: www.brokersforumofindia.com
BBF Steering Committee
(Chairman)
(Vice-Chairman)
(Secretary)
(Treasurer)
(Jt. Secretary)
Lalit Mundra
Hemant Majethia
Kishor Kansagra
Harin Mehta
Kushal A. Shah
Follow us on:
@bbfindia
/bbfindia
/Bsebrokersforum
/bbfindia
FORUM VIEWS - SEPTEMBER 2023
SYNOPSIS ON FAILURE TO DEDUCT TDSCOMPLIANCE
CALENDAR
48
Regulatory
Compliance
MASSAGE THERAPY - ACUPRESSURE AND MORE
THE COFFEE CONUNDRUM: BALANCING BENEFITS
AND HEALTH IMPLICATIONS
Leadership,
Empowerment & Lifestyle
50
29 Feature
RELATIONSHIP OF BUSINESSES AND NATURAL DISASTERS
24 Insights
AIF: HOW TO JOIN THE PARTY?
EVOLUTION OF MODERN BUSINESS
WITH THE RIGHT FUNDAMENTALS
THE CASE FOR LAW IN SCHOOL
AND COLLEGE CURRICULUM
THE NECESSARY NUDGES FOR INVESTMENTS
FAMILY BUSINESS - TRENDS, OPPORTUNITIES AND ISSUES
EMBRACING SUSTAINABLE TOURISM
A JOURNEY TOWARDS RESPONSIBLE TOURISM
UNDERSTANDING THE IMPERATIVE
OF SKILL DEVELOPMENT
LIABILITY TOWARDS PROPERTY TAX
IN A LANDLORD BUILDING
IMPORTANCE OF MAINTAINING YOUR NUTRITION LEVEL
AND HEALTHY LIFESTYLE DURING FESTIVE SEASON
54
Living Health
Matters
FORUM VIEWS - SEPTEMBER 2023
10
FORUM VIEWS - SEPTEMBER 2023
uring the last few months, we have witnessed intense
heat and devastating rainfall causing major damage to
Dpeople’s health and environment around the globe. July
was the hottest month ever recorded on earth. This underlines
the increasing urgency of cutting greenhouse gas emissions.
Finance is a critical enabling factor for the low-carbon
transition and climate transition plans are a vital tool to
demonstrate the strategic move to capital markets.
For the world to limit the global warming, we will need nothing
less than a net zero revolution. It may be comparable with the
scale of the industrial revolution, but the speed will need to be
significantly faster. And there is no longer a choice. Virtually
every company in every sector will have to rise to the
challenge and transform its business model, requiring
investments of over $100 trillion in the next three decades.
Climate-related transition plans are actually relevant to all
jurisdictions and entities, regardless of the level of ambition of
their own decarbonisation commitments. A truly strategic
approach to transition planning looks beyond an entity’s own
decarbonisation actions to also consider how it can use the
levers available in its business model and its products and
services to contribute to the decarbonisation of others - and
thereby embed and accelerate an economy-wide transition.
This is the case in both developed and developing economies,
though many developing and emerging market countries are
typically most at need of appropriate transition financing.
The international business and financing environment is
rapidly evolving as part of a system-wide transition to a lower-
carbon economy. The transition is driven by international
treaties and commitments such as the Paris Agreement, the
Global Biodiversity Framework, UN Sustainable Development
goals and a general change in stakeholder expectations. Those
commitments often begin with net zero objectives of
countries, cascading down to entities transition plans.
TRANSITION PLANNING -
KEY TOOL TO ACHIEVE NET ZERO
Johanna Fager Wettergren
Head of Sustainable Finance
Finansinspektionen
There is a growing international momentum around private
sector transition plans, both from the private sector and
policymakers. Over the last six months alone, G7 leaders have
come out in support of private sector transition plans. Across
the globe, companies are increasingly signing up to ambitious
climate targets, committed to achieving net zero carbon
emissions by 2050 the latest. Over 8300 companies and 595
financial institutions have so far signed up to the UN Race To
Zero, which is a global campaign to rally leadership and
support from businesses, cities, regions, investors for a
healthy, resilient, zero carbon recovery that prevents future
threats, creates decent jobs, and unlocks inclusive,
sustainable growth.
Transitioning to net zero as rapidly as necessary and as
smoothly as possible requires a well-functioning financial
sector. In that sense, climate-related financial reporting is key,
for the simple reason that what gets measured gets managed.
Better disclosure in combination with heightened sense of
urgency creates strong incentives to a transformation of
climate risk management. Building on the foundations of
reporting and risk management, the financial system can look
During the last few months, we have
witnessed intense heat and
devastating rainfall causing major
damage to people’s health and
environment around the globe. July
was the hottest month ever recorded
on earth. This underlines the
increasing urgency of cutting
greenhouse gas emissions. Finance is a
critical enabling factor for the low-
carbon transition and transition
planning is a critical tool.
(Stockholm County, Sweden)
Global Insights
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