Mr. Sethurathnam Ravi (S Ravi) is the former Chairman of Bombay Stock Exchange Limited (BSE) and Founder and Managing Partner of Chartered Accountants' firm Ravi Rajan & Co., an advisory and accountancy firm, headquartered in New Delhi, India. Mr. S Ravi is a Post Graduate in Commerce and holds a diploma in Information System Audit (DISA). He is an Associate Member of Association of Certified Fraud Examiners (CFE), USA and is also registered as an Insolvency Resolution Professional.S Ravi, former chairman of BSE and Founder of accountancy firm Ravi Rajan & Co, speaks about the pandemic, its impact on the market, and the way ahead for crypto markets and start-ups eyeing IPOs.
Mr. Sethurathnam Ravi identifies the impact of the pandemic on the financial sector. Banks are witnessing request for restructuring, especially in the SME/ MSME sector. Sectors badly infected are aviation, tourism, manufacturing, hospitality, malls etc. "Banks are doing long and deep restructuring. Insurance companies are flooded with claims. Fintech companies have done well during this pandemic", S Ravi underlines.
The former BSE Chairman was delighted that the stock markets were not impacted by the pandemic in the way it was expected. Retail investors flocked the stock market and showed unprecedented interest. But certain other sectors were badly impacted which is a cause of concern for Indian economy. The cost of petrol also impacted the economy. Manufacturing suffered by 30 percent during the second wave. Job losses or salary cuts were witnessed across the industry. "The economy had been impacted and there has been a resultant fall in GDP", acknowledges Mr. Ravi.
Talking about the crypto markets, S Ravi observed, "Cryptocurrency has a good future, but it is risky due to lack of regulations. The present environment is not conducive to crypto trade as there are no regulations and investor awareness. Regulations are important to develop the crypto market so that there is no misspelling and there is protection of small investors. At present, we are slow on framing regulations."
Technology has actually enabled business to continue without much disruption. It has enabled work from home and has reflected its importance. "A lot of companies are planning their IPO. Making use of the technology, start-ups will have to prove their mettle and catch the fancy of the market to be successful. Tech and companies with innovation will perform well in the proposed IPOs", former BSE Chairman, S Ravi concluded.
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S Ravi observed, "Cryptocurrency has a good future
General FictionMr. Sethurathnam Ravi (S Ravi) is the former Chairman of Bombay Stock Exchange Limited (BSE) and Founder and Managing Partner of Chartered Accountants' firm Ravi Rajan & Co., an advisory and accountancy firm, headquartered in New Delhi, India. Mr. S...