Harshil Roy

#IIM - Ahmedabad | Certified Financial Planner | Chartered Wealth Manager | CFA (India) | Personal Finance Enthusiast

[Harshil Roy @WealthX_Capital]

@monikahalan At this rate, I won’t be surprised if we eventually discover it all started with a typo! 😊

[Harshil Roy @WealthX_Capital]

@monikahalan I don’t think it’s true. Can you verify this by showing a credit entry at this rate of comission in broker’s account?

[Harshil Roy @WealthX_Capital]

@rathkrishna @monikahalan I agree.

Where are they getting this data from. Did they double check the data?

At this rate, I won’t be surprised if we eventually discover it all started with a typo! 😊

[Kalpen Parekh @KalpenParekh]

Markets have fallen 15% over 2 years

Past corrections have been sharper or longer

20 to 50% in 2000/2008/2020

Or 2000 to 2003 / 2008 to 2013

Not expecting corrections is the correction we need in our expectations

The time to fear the correction is before such periods of no or negative returns

Can it fall more or stay here for long - yes

Can it turn soon and give steady returns - yes

Lowest valuations in crisis at 12 x

Peak valuations in bubbles are 25/30x

We are in the middle

Can go where in the near term

In the medium to long term / if we survive such phases, returns will be ours

[Harshil Roy @WealthX_Capital]

@CNBCTV18News @_prashantnair @YashJain88 “Most Indians are just one hospitalisation away from bankruptcy.”

When healthcare costs can push families into financial distress, how responsible is it to disrupt the distribution channel working to bridge India’s protection gap?

[Harshil Roy @WealthX_Capital]

@CNBCTV18News @_prashantnair @YashJain88 Do they understand:

In a country where insurance remains underpenetrated and largely a push product due to low awareness of its consequences, what is the economic cost of weakening the very distribution channel driving penetration?

[Harshil Roy @WealthX_Capital]

@CNBCTV18News @_prashantnair @YashJain88 Uninsured event → household/business bears the loss → savings are depleted or debt rises → consumption/investment falls → government support may rise → economic recovery slows.

[krishan sharma @krishan_sharmaa]

Accept the nature of Equities

They can remain IRRAIONAL longer than you remain SOLVENT

Will share the link of full video soon 🙏

#investing

[Harshil Roy @WealthX_Capital]

44% post-tax profit of a few large distributors doesn’t reflect the reality of smaller ones.

A small sample size. A sweeping conclusion. And a decision that affects the entire distribution ecosystem.

Is that really a sound basis for such a big decision?

[CNBC-TV18 @CNBCTV18News]

'Some large insurance distributors have over 44% profit after paying taxes, which is too high for the financial svcs sector,' says Ajay Seth of #IRDAI. He adds, 'Commissions are at 38%. If anyone has to be shocked, it has to be policyholders'
@_prashantnair @YashJain88 #Insurance

[Harshil Roy @WealthX_Capital]

As a regulator, what should worry you more?

People going bankrupt because they’re uninsured—and the impact that has on the economy—or distributors earning higher commissions?

I’m genuinely not sure what the priority of a #regulator is here.

[Harshil Roy @WealthX_Capital]

But is India the same as China?

Most Indians are one serious health emergency away from financial bankruptcy.

Insurance can save them. But who takes insurance to these people? Intermediaries.

And what motivates intermediaries to sell more insurance?

Isn’t it commission?

[Manish Singh @refsrc]

India's proposed reset of insurance distribution costs resembles the one China introduced in 2023. JPM on how that played out in China:

[Harshil Roy @WealthX_Capital]

If you take away that motivation because you think they’re earning “too much”—which, by the way, shouldn’t be the problem—then answer this:

Why should they work harder to increase insurance penetration?

Take away the incentive. Don’t be surprised when you get less of outcome.

[Harshil Roy @WealthX_Capital]

And commissions are going down, looks like only insurance companies are going to make profits!!! And #government through #taxes!

#insurance #IRDAI

[Ankush Prajapati @Mf360WW]

Investors watching the Market… IRDAI: “Hello…”

[Renuka Jain @RenukaJain6]

₹1 crore invested approximately two years ago:
India Nifty ₹89 lakh
S&P 500 ₹1.54 crore
Germany DAX ₹1.53 crore
Japan Nikkei ₹1.72 crore
Taiwan ₹2.31 crore
South Korea ₹3.54 crore

Enjoy LTCG

[RedboxGlobal India @REDBOXINDIA]

FII/DII ACTIVITY FOR THE DAY

[sandip sabharwal @sandipsabharwal]

If #Nifty ends the year around the current levels
It will be the worst yearly performance since 2011

Congratulations to the taxation policies of Government of India which has made this possible even when economic growth remains strong.

@FinMinIndia @PMOIndia

[Gurmeet Chadha @connectgurmeet]

We can now initiate tax on short term and long term capital loss to boost revenues as capital gain revenue may fall.

LTCL 12.5%
STCL 20%
Higher STT was booking losses.

Not only it will boost revenues for freebies but also prevent investors from booking losess :)

[Nithin Kamath @Nithin0dha]

I think MDR on UPI was probably inevitable at some point, especially given how widespread UPI adoption has become. It could also lead to more competition, instead of just three apps accounting for more than 95% of the market.

That being said, there are some use cases, like investing and broking, where the proposed MDR structure doesn’t really make sense.

The problem with broking is that there is no guarantee that money transferred to a broker will actually result in a transaction.

As brokers, we can’t force a customer to trade after transferring money. And if we can’t pass the UPI charge on to the customer, there is essentially no limit to the cost a customer can impose on a broker without generating any revenue.

Just as an example, 10,000 customers could each make 50 UPI transfers of ₹2 lakh in a month without executing a single trade. At the proposed MDR, this could potentially cost the broker around ₹2 crore, without generating any business.

What makes this even more challenging is quarterly settlement (QS). This is a SEBI regulation that requires brokers to send unused funds back to clients every month or quarter.
Most customers then transfer these funds back to their broking accounts, with more than half of these transfers happening through UPI. So regulation essentially forces this movement of money every month or quarter, and the broker could end up bearing the cost when the money comes back, without any incremental benefit or revenue.

By the way, we currently don’t charge brokerage on equity delivery trades because the economics allow us to offer them for free. But if every UPI transfer starts carrying an additional cost, irrespective of whether the customer actually trades, I don’t see how we can absorb this indefinitely.

I think having an MDR is okay. It still doesn’t solve the problem of customers transferring money without transacting, but something like 0.02% with a cap of ₹5 or ₹10 per transaction seems much more reasonable for broking, instead of a cap as high as ₹300.

[A K Mandhan @A_K_Mandhan]

BREAKING:
🇺🇸 US House passes bill that
impose up to 100% tariffs on
countries buying Russian oil,
including India.
India says it is committed to energy
security for its 1.4 billion people and
will take necessary measures to
protect its trade and
economic interests.