Banking Awareness 01st and 2nd January 2017 | Financial Affairs 01st and 2nd January 2017

Smart electricity meters can be dangerously insecure

Hackers can cause fraud, explosions and house fires

A security expert has said that smart electricity meters, of which there are more than 100 million installed around the world, are frequently “dangerously insecure.

The lack of security in the smart utilities raises the prospect of a single line of malicious code cutting power to a home or even causing a catastrophic overload leading to exploding meters or house fires.

Zigbee

It is used to create personal area networks with small, low-power digital radios.

Packing food, drugs at a blistering pace

The Indian packaging industry is turning a new leaf.

The more than $25 billion Indian packaging industry, growing at a rate of about 10 per cent, is initiating major steps to develop innovative packaging for all segments, but mainly for pharmaceutical and food products, even as the country bids to radically boost its exports.

80 per cent

Cold-form blister packaging is imported.

Centre permits 12 PSU banks to raise Rs. 3,000 crore

Strengthen the capital base of public sector banks

In a bid to strengthen the capital base of public sector banks (PSBs), the Centre has allowed 12 lenders to raise close to Rs. 3,000 crore via preferential shares over and above the Rs. 22,915 crore capital support committed to them in July last year.

Rs. 25,000 crore

The Amount infused by 19 PSB’s.

Opportunity to lower corporate tax rates

Demonetisation help to lower taxes.

• The widening of the tax net due to demonetisation will give the Centre an opportunity to lower corporate tax rates, according to the Confederation of Indian Industry.
• The trade body, in a statement, added that the roll-out of the GST will also be facilitated due to the increasing formalisation of transactions.

0.04 % of GDP

Public investment in research in the higher education sector.

‘Hoarded black money to be converted into cheaper loans’

Transfer of wealth will change spending habits of the people

The future agenda of the government, as stated by Prime Minister Narendra Modi in his speech on New Year’s eve, is to channel the wealth that was previously being hoarded as black money into cheaper capital for affordable housing, women’s health, the agriculture sector, and medium and small enterprises.

Major economic reforms

• Insolvency law
• Monetary Policy
• Goods and Services Tax

  Demand for housing loans will rise again

  Impact on Demonetisation.
  

There was an immediate wait-and-watch situation post-demonetisation but things are coming back to normal. Even if there a slowdown for a quarter or so, the growth will come back fast as the underlying demand is always there in the economy.

Rakesh Singh

Chief Executive Officer – Aditya Birla Finance Limited (ABFL).

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