FinTram Monthly Bulletin

Industry News??

#WhatsNew? ?

Angel Tax Removed, New Policy Measures Implemented to Boost Fintech Sector: PM Modi? ?

Prime Minister Narendra Modi announced the removal of the Angel Tax and highlighted key policy initiatives aimed at boosting the fintech sector during the Global Fintech Fest 2024. He emphasized the role of fintech in promoting financial transparency, inclusion, and economic growth. Modi credited initiatives like UPI and Direct Benefit Transfer (DBT) for driving India's fintech revolution. He also urged regulators to address cyber fraud to protect startups and enhance digital literacy. The Prime Minister pointed out that fintech has democratized access to financial services, making credit and transactions more accessible, and emphasized the government's commitment to fostering innovation and transparency.?

Fintech has made financial services more accessible, achieving unparalleled success: PM Modi? ?

Fintech has transformed financial services in India by making loans, credit cards, investments, and insurance widely accessible. At the Global Fintech Festival in Mumbai, it was noted that fintech's adoption is unmatched, extending even to rural areas, and enhancing quality of life. The sector has grown by 500% in the past decade, attracting over $31 billion in investments, driven by affordable mobile phones, data, and Jan Dhan accounts. Fintech's integration with Digital Public Infrastructure has improved credit access and financial inclusion, with 530 million Jan Dhan accounts and over Rs 27 trillion disbursed under the Mudra scheme, empowering millions of women? ?

Telangana Skills University to introduce 15+ courses across various sectors, with expert-led youth training programs?

The Telangana government plans to launch the Young India Skills University in the 2024-25 academic year. The university will offer courses in six sectors, aiming to train 2,000 students in the first year and expand to 10,000 students later. The institution, built under a Public-Private Partnership (PPP) model, will focus on industry-relevant skills and provide degree, postgraduate, and certificate courses. The main campus will be located in Mucherla, with additional city campuses in Gachibowli and Hi-Tech City. This initiative is designed to enhance job-oriented skills and bridge the gap between education and industry needs.? ?

Certification Of the Month – ACCA? ?

#UnlockYourPotentialwithACCA? ?

ACCA Program Highlights?

The ACCA (Association of Chartered Certified Accountants) is a globally recognized professional accounting qualification with over 241,000 members and 520,000 students worldwide. It is widely accepted across 180 countries, making it a global qualification with affordable fees and possible exemptions. It's an excellent pathway for aspiring accountants seeking international opportunities.? ?

Get your ACCA in 2-3 years? ?

The ACCA (Association of Chartered Certified Accountants) is a globally recognized qualification offering a fast track to a career in accounting and finance within 2-3 years. With 13 exams across knowledge, skills, and Professional levels, students can start right after?Class XI or XII. Graduates and CA Professionals are eligible for exam exemptions, reducing their load.?

ACCA is Popular with multinational companies, including Big 4 due to its alignment with IFRS. ACCA fees amount to about 2105 GBP.?

Starting salaries for ACCA members range from INR 3-4.5 lakhs, with potential growth to INR 5-7 lakhs, making it an attractive alternative to Indian CA with global flexibility.?

Advantages of Getting an ACCA Qualification:?

• The ACCA qualification is in high demand by multinational organizations, including Big 4 firms, due to its alignment with IFRS standards.?

• It offers flexibility, allowing students to start alongside Class XI or XII and complete it within 2-3 years, depending on their qualifications.?

• ACCA provides an affordable pathway to a globally recognized professional accounting qualification.?

• High demand across multinational corporations makes it a valuable career option.?

• ACCA members are employed by leading multinational companies and banks, such as EY, PwC, Deloitte, KPMG, Grant Thornton, BDO, Accenture, Credit Suisse, Barclays, and Standard Chartered.? ? ?

Q&A Section ?

#AskFinTram?

1. How has ACCA helped you build confidence in your financial and accounting skills?? ?

As a student navigating the complexities of finance and accounting, ACCA has been instrumental in building my confidence and proficiency. The comprehensive curriculum has not only deepened my understanding of core financial principles but also equipped me with practical skills essential for real-world scenarios.?

The structured learning approach, paired with rigorous examinations, has provided me with a solid foundation in both theoretical knowledge and practical application. The ACCA resources, including study materials and interactive platforms, have been invaluable in reinforcing concepts and providing hands-on experience.?

Furthermore, the ACCA community and networking opportunities have connected me with industry professionals and peers, offering insights and support that have further bolstered my confidence. Overall, FinTram Global’s training and supportive environment have significantly enhanced my financial and accounting skills, preparing me to tackle challenges and excel in my career. ?

2. What skills did ACCA teach you that you now use daily in your job?? ?

ACCA has equipped me with essential skills that I use daily in my job. Financial analysis allows me to interpret data and make informed decisions. Budgeting and forecasting skills help me manage resources and plan effectively. The training in regulatory compliance and ethics ensures my work meets legal standards and maintains integrity. Additionally, problem-solving and analytical skills enable me to tackle complex issues and optimize processes. Overall, ACCA’s training has significantly boosted my confidence and effectiveness in my role.? ?

3. What really pushed you to go for ACCA Certifications?? ?

The ACCA certification is globally recognized and highly respected in the finance and accounting industry. Its international reputation provides a significant advantage, opening doors to career opportunities across the world. With ACCA, you gain credibility and a competitive edge, as the qualification is valued by employers and professional bodies globally. This global recognition not only enhances your career prospects but also offers the flexibility to work in diverse markets and industries. Coming from an economics background, I pursued ACCA to enhance my understanding of financial management and accounting. The comprehensive curriculum and global recognition of ACCA were key motivators, as I believed it would boost my career prospects.?

Also, FinTram Global and their expert mentoring has been invaluable in helping me navigate the ACCA journey? ?

4. What strategies did you use to stay organized during your ACCA exam preparation?? ?

To stay organized during my ACCA exam preparation, I implemented several effective strategies:?

• Structured Study Plan: I created a detailed study schedule, breaking down the syllabus into manageable sections with specific goals for each week. This helped me stay on track and cover all topics systematically.?
• Regular Revision: I allocated time for regular review sessions to reinforce what I had learned and keep key concepts fresh in my mind. This also included practicing past exam papers and mock tests.?
• Study Materials: I organized my study materials, including textbooks, notes, and practice questions, in a systematic manner. Keeping these resources well-organized made it easier to access and review them as needed.?
• Time Management: I dedicated specific time blocks each day for study, ensuring a balanced approach that allowed for both focused learning and breaks. This helped maintain productivity and avoid burnout.?
• Goal Setting: I set short-term milestones and tracked my progress against these goals. This provided motivation and a sense of accomplishment as I moved closer to my overall exam preparation target.?

These approaches kept me on track and prepared for the ACCA exams, and a big thanks to FinTram Global for their expert guidance and support.?

5. How did you utilize the ACCA resources to enhance your learning??

I utilized ACCA resources in several keyways to enhance my learning:?

• Study Materials: I leveraged ACCA’s official study texts, revision kits, and past exam papers to gain a thorough understanding of the syllabus and practice applying concepts in real exam scenarios.?
• Online Learning Platform: I made full use of the ACCA online learning platform, which provided access to interactive resources, including video lectures and webinars, offering additional insights and explanations on complex topics.?
• Practice Questions: Regularly working through ACCA’s practice questions and mock exams helped me familiarize myself with the exam format and improve my problem-solving skills under timed conditions.?
• Examiner Reports: Reviewing examiner reports gave me valuable feedback on common pitfalls and effective strategies for answering exam questions, helping me to refine my approach and avoid common mistakes.?
• Study Groups and Forums: Engaging with ACCA study groups and online forums allowed me to discuss challenging topics with peers, share insights, and gain different perspectives, which enriched my learning experience.?

By integrating these resources into my study routine, I was able to enhance my understanding, improve my exam readiness, and build confidence.? ? ? ? ? ? ? ?

Inside FinTram??

FinTram Global has signed an MoU with the Banking, Finance & Insurance Institute of Nepal Ltd. (BFIN), marking a major milestone in advancing finance and accounting education in Nepal. This partnership aims to provide professionals in Nepal with globally recognized skills, making world class financial education more accessible.?

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Together, FinTram Global and BFIN are dedicated to elevating the standards for financial professionals, empowering them to tap into global opportunities and thrive on the international stage.? ?

Student Testimonial ?

Hear what our students have to say about their journey with FinTram Global and how it’s shaping their future in finance.?

Spotlight on FinTram Global? ?

• AIMA and FinTram Global Partner to Offer Postgraduate Diploma in Financial Planning? ?

https://bweducation.com/article/aima-and-fintram-global-partner-to-offer-postgraduate-diploma-in-financial-planning-524905???

• UPS vs NPS vs OPS: Which is more suitable for your retirement??

https://www.financialexpress.com/money/ups-vs-nps-vs-ops-which-is-more-suitable-for-your-retirement-3595147/??

• The Independence Dividend: Why Financial Freedom Is Essential For Every Indian Woman?? ?

https://www.goodreturns.in/classroom/the-independence-dividend-why-financial-freedom-is-essential-for-every-indian-woman-1363841.html??