Several Founders, Co-Founders, CXO Bankers, CXO Fintech professional & people who participated in the ePanel discussions:
- Mr. Prasanna Divekar, Principal, Renaissance India Partners
- Mr. Sridhar R, former President & Credit Risk Officer, Lakshmi Vilas Bank
- Mr. P B Prakash, Head-Financial Institutions Group, Indusind Bank
- Mr. Sugata Ghosh, Associate Editor, The Economic Times, BCCL
- Mr. P D Singh, Former General Manager, Bank of Baroda
- Mr. Arun Tanksali, Co-founder & CTO, Nearex
- Mr. Ruchir Inamdar, Strategist, Jumper.ai
- Mr. Abhishek Mody, Associate Director-Payment & Digital Initiatives, IDFC Bank
- Mr. Avro Mukerji, Investment Counselor- NRI Burgundy, Axis Bank
- Mr. Neeraj Chandra, Head of Operations and Technology, Abu Dhabi Commercial Bank
- Mr. Kamonasish Aayush Mazumdar, Founder & CEO at Foodieverse
- Mr. Hemal Shah, Technical Product Manager, Mastercard
- Mr. Shirsha Ghosh, Co-Founder Torit Innovations
- Mr.Vikas R Panditrao, Co-Founder, Forum of Industry and Academic Knowledge Sharing (FIAKS)
- Many other CEO/CXO Bankers & Fintech professionals on FIAKS Forum requested to remain anonymous
Amidst this very unprecedented times, FIAKS community raises these utmost significant questions
Question 1: Can prudent fiscal policy & interest rate management have any meaning when economic activity is almost at a standstill?
- First of all, in layman’s terms, fiscal policy refers to where the government monitors its level of expenditure and tax rates that is revenue collection so as to better the country’s economy and a prudent fiscal policy is one which aims to increase the revenue while curbing expenditures and controlling deficits.
- Well, the answer to the above question is always a yes, finance and economics always matters, even when the exchange of goods and services is less, it still exists. Also, a fiscal policy focuses to manage liquidity. And talking about liquidity, India needed liquidity regardless of the scare anyway. The problem is will even this credit go to the actual consumer or will it get usurped by the banks or not passed on.
Question 2: Will consumers buy automobiles because the interest rate is very low? Can people fly when there are no flights? Will people go out for dining when there is a risk of death?
- The consumption economy of goods like automobile example is led by the large salaried class. If life gets back to even something like normals, many of these people would have lost much economically and the curtailed expenditures of a month coupled with low interest might encourage spending.
- While a member suspects the real pickup might only be in July or later. As per anecdata, you will be astonished to know that there are people placing online orders for sofa sets and dining tables even yesterday!
- Also, consumers might not buy automobiles because the interest rate is low now, but a lower interest rate means cheaper loans for institutions as well.
- Secondly, flights aren’t permanently canceled, these measures have been introduced to kick-start key sectors obviously the caveat is flights need to be started at the earliest.
- Also, post-pandemic habits of people will definitely change, going out for dining won’t stop altogether but the concept of dining will take a new form as restaurants will come up with innovative and safe ways of dining.
Question 3: Will corporates invest in an uncertain future? REGISTER AND READ the complete discussions