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

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

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

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

Global

Insights

TRANSITION PLANNING -

KEY TOOL TO ACHIEVE NET ZERO

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

@bbfindia

/bbfindia

/Bsebrokersforum

/bbfindia

FORUM VIEWS - SEPTEMBER 2023

SYNOPSIS ON FAILURE TO DEDUCT TDSCOMPLIANCE

CALENDAR

Regulatory

Compliance

MASSAGE THERAPY - ACUPRESSURE AND MORE

THE COFFEE CONUNDRUM: BALANCING BENEFITS

AND HEALTH IMPLICATIONS

Leadership,

Empowerment & Lifestyle

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

Living Health

Matters

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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