Digital signatures, Aadhaar enabled e-KYC can encourage financial inclusion: NITI Aayog CEO

Suggests raising limits for different type of accounts

by Arjit Singh Bhambra

The central bank should promote for wider acceptance of digital signatures and the use of Aadhaar enabled electronic KYC verification for opening of bank accounts and various financial transactions in the country, according to NITI Aayog CEO Amitabh Kant. He added that this will further encourage digitisation of finance along with an increased access to lending. The CEO also suggested for the need to raise limits on Aadhaar enabled OTP based authentication for different types of account opening. For instance, the limit on savings account can be increased to Rs.1 million from the existing Rs.100,000 while the limit for loan accounts can be raised to Rs.600,000. He believes that this will curb the NPA menace by reducing the instances of forged documentations being used.

References
1. http://economictimes.indiatimes.com/news/economy/policy/niti-aayog-wants-more-push-to-digital-signatures-for-industry-use/articleshow/60482473.cms
CMIE STATISTICS
Unemployment Rate
Per cent
4.8 +0.0
Consumer Sentiments Index
Base September-December 2015
97.2 -0.2
Consumer Expectations Index
Base September-December 2015
96.5 0.0
Current Economic Conditions Index
Base September-December 2015
98.2 -0.5
Quarterly CapeEx Aggregates
(Rs.trillion) Mar 17 Jun 17 Sep 17 Dec 17
New projects 4.01 2.11 1.18 0.84
Completed projects 1.95 0.86 1.03 0.90
Stalled projects 0.74 2.67 0.67 0.92
Revived projects 0.86 0.30 0.29 0.20
Implementation stalled projects 0.33 0.69 0.73 0.58
Updated on: 23 Jan 2018 8:20PM
Quarterly Financials of Listed Companies
(% change) Mar 17 Jun 17 Sep 17 Dec 17
All listed Companies
 Income 10.2 9.7 7.9 10.7
 Expenses 11.9 10.0 9.2 10.4
 Net profit 16.1 -19.8 -20.0 16.1
 PAT margin (%) 6.0 5.3 5.4 14.2
 Count of Cos. 4,460 4,389 4,313 197
Non-financial Companies
 Income 11.8 10.3 7.7 10.7
 Expenses 15.6 10.6 7.8 10.6
 Net profit -2.3 -25.2 -7.9 15.1
 PAT margin (%) 6.2 5.2 6.1 14.3
 Net fixed assets 6.9 9.0
 Current assets 2.7 78.0
 Current liabilities 8.8 10.6
 Borrowings 4.9 10.1
 Reserves & surplus 6.3 4.8
 Count of Cos. 3,448 3,407 3,348 146
Numbers are net of P&E
Updated on: 23 Jan 2018 8:21PM
Annual Financials of All Companies
(% change) FY14 FY15 FY16 FY17
All Companies
 Income 10.0 5.3 1.4 6.6
 Expenses 9.9 5.4 1.5 7.1
 Net profit -2.5 1.6 -12.6 18.7
 PAT margin (%) 3.1 3.2 2.9 5.7
 Assets 12.3 9.4 9.8 8.3
 Net worth 9.6 8.7 10.8 7.2
 RONW (%) 6.1 6.1 5.1 8.3
 Count of Cos. 24,439 24,353 22,049 8,816
Non-financial Companies
 Income 9.7 4.5 0.5 6.4
 Expenses 9.4 4.6 -0.3 7.6
 Net profit -3.1 -5.5 12.5 11.8
 PAT margin (%) 2.2 2.1 2.6 5.3
 Net fixed assets 11.7 13.3 15.6 7.3
 Net worth 8.2 7.1 11.2 5.3
 RONW (%) 5.0 4.9 5.4 9.0
 Debt / Equity (times) 1.1 1.1 1.1 0.8
 Interest cover (times) 2.0 1.9 2.0 2.9
 Net working capital cycle (days) 69 67 65 52
 Count of Cos. 19,688 19,805 18,467 6,761
Numbers are net of P&E
Updated on: 21 Jan 2018 12:27PM

Data added for HPI at Assessment prices and HPI at Market prices