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Fact Finder, The

@TheFactFindr

Nov 4

#FX #THREAD #STUDENT
Bank of Interenational Settlements BIS just published thier 2022 #BISTriennialSurvey (took place in April 2022).
This is what I learnt....

In 2022, Global foreign exchange (FX) market turnover/day breached $7.5 trillion/day on a Net Basis Value.

This growth was entirely due to Inter-dealer activity rather than end customers.

Share of SPOT transactions in Global FX market turnover fell from 30% to 28% over the past few years. Rest was made up by Fwds. Swaps, etc

SPOT transactions could include Trade Related, Foreign Portfolio Buying/Selling (Equity & Debt), Interest Payments on loans, Remittances inbound (NRIs) /outbound (Education, Holidays, Medical, Overseas investments etc). So in effect, just TRADE RELATED Sport FX is barely…

Read 10 tweets

Fact Finder, The

@TheFactFindr

Nov 4

This reminds me of the #TelecomScam... only thing is that this is #REALASSETS. Ideally allowing this USE change should be ONLY in the case of AUCTIONED mines. No prizes for guessing which of the 4 OLIGARCHs will benefit

EXISTING REGULATION, captive mine operators can sell 50% of the annual output from their mines but only after meeting the entire needs of the end-use plant for which a mineral block was originally allocated by the government.

WHAT WILL CHANGE ? Proposed amendment further blurs the distinction between captive and commercial mines. Captive mines producing major minerals may soon be allowed to sell half their output in the open market even if they are not able to supply to their existing facility.

Read 4 tweets

Fact Finder, The

@TheFactFindr

Nov 3

@bankofengland

EU regulator ESMA & @bankofengland disqualify key Indian institutions like CCIL & NSE Clearing Corp as
@RBI , @SEBI_India reluctant to let them inspect, collect data from these orgs. European banks in India in a flux

ESMA had to tier and review the recognition of all third country CCPs (TC-CCPs) that had been recognised prior to 21 September 2020, in accordance with EMIR (Article 89(3c)). Among these TC-CCPs, six are in India, namely:

The Clearing Corporation of India (CCIL)
Indian Clearing Corporation Limited (ICCL)
NSE Clearing Limited (NSCCL)
Multi Commodity Exchange Clearing (MCXCCL),
India International Clearing Corporation (IFSC)
NSE IFSC Clearing Corporation Ltd (NICCL)

Read 6 tweets

Fact Finder, The

@TheFactFindr

Nov 3

https://twitter.com/PMOIndia/status/1588050876953817089

#Here is #How #Modi #reduced #Corruption in #NewIndia
SUMMARY: Introduce a Law that Dissuades reporting of Corruption.

It’s a long #Thread. so please stay with me.

In July 2018, the Govt passed the Prevention of Corruption (Amendment) Bill, 2013.

https://twitter.com/PMOIndia/status/1588050876953817089

#AntiCorruption #Corruption #NewIndia work of #Genius

How does this Amendment change things?

(A) Post Amendment, the #Bribe #Giver would also be considered a #criminal or penalizing the bribe giver and bribe taker on equal terms.

#AntiCorruption #Corruption #NewIndia work of #Genius

(B) The Amended Act will facilitate confiscation of the offender’s property

Looking at A & B, who in their right mind will COMPLAIN about being forced to give a bribe?

Read 15 tweets

Fact Finder, The

@TheFactFindr

Nov 3

1/ This is clearly a #AssetManager #Bias since he is in the business of ONLY #COLLECTING #AUM ... The headline is "Half a trillion-dollar FII inflows may be heading India’s way and focus is on 3 sectors: Saurabh Mukherjea"

Lets look at the Data

economictimes.indiatimes.com/markets/expert…

2/ The Share of INDIA DEDICATED FII money as a proportion of all the FII money in India today is about 7% from ACTIVE fund Managers . That Ratio of 7% about 10 years about was more like 12% and back in 2007-08, it was almost 25-30% .....

3/ So clearly 85% of the FII money in India IS NOT DEDICATED to India but a Regional Allocation from either Global Emerging Market funds or Asia Pacific Funds... The question is, if INDIA was so sexy, how come INDIA DEDICATED FII Money fell as a proportion

Read 4 tweets

Fact Finder, The

@TheFactFindr

Nov 3

1/ A forward .... The Irony of the #ProudIndian #RishiSunakPM #NRIs

There is tremendous hype about Rishi Sunak being
selected as PM of Britian; which makes many Indians proud and happy

2/ However , how many of us know that Leo Varadkar, the current Prime Minister of Ireland is of Indian descent? His parents are from Vasai, near Bombay.

3/ As late as 2003, Leo completed his internship at KEM Hospital, Bombay.

His mother is an Irish lady and his father an Indian from Vasai, a suburb of Bombay, in Thane District of Maharashtra.

Leo has won a second term as PM.

Read 7 tweets

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