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Ahead of the Union Budget, <keyword id="34743" type="General" weightage="50" keywordseo="rohit-arora" source="Orion">Rohit Arora</keyword>, CEO and Co-Founder of Biz2X, has suggested the government needs to come out with a specialised <keyword id="18173" type="General" weightage="100" keywordseo="sme" source="Orion">SME</keyword> <keyword id="50691" type="General" weightage="80" keywordseo="digital" source="Orion">digital</keyword> bank to cater to the funding needs of small businesses. Finance Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> will present the last full Budget before the 2024 general elections in the Lok Sabha on February 1, wherein she is expected to announce slew of measures to boost economic growth. <keyword id="176" type="General" weightage="80" keywordseo="arora" source="Orion">Arora</keyword> said that small and medium businesses perennially face credit shortage and it is time that the government should come out with a specialised bank to cater their requirements. "SME digital bank can provide a bouquet of services to MSMEs, such as business CASA accounts for transaction banking, invoice and payments processing, correspondent banking, SME credit and trade finance, and other business financial services," he said. Biz2X is a turnkey global SaaS platform that enables financial institutions to provide a customised online lending experience for their small and mid-size business customers. Further, Arora stressed that such a bank can also include a special portfolio of revenue-linked credit instruments that will address the credit needs of MSMEs and also help in diversifying SME credit vis-a-vis the present system of collateral-based financing, which restrains the very practicality of running a small business. Being completely digital, he said such banks can process quicker loan application and disbursals for SMEs, backed by advanced data analytics and technology-based decision making. "The current system of portfolio mapping and underwriting is an arduous and time consuming process, involving exhaustive documentations and required multiple visits to banks. Digital banking will quicken loan processing, lower risk and scale up faster, meeting the credit needs of small businesses," he said. He said many large sovereign funds, pension funds, multilateral agencies as well as large Indian private equity funds wants to invest in such an initiative, given its enormous economic potential. About 6.3 crore MSMEs (Micro, Small and Medium Enterprises) provide more than 11 crore jobs in India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/gautam-adani-plans-to-launch-at-least-five-ipos-between-2026-to-2028/slidelist/97248256.cms">Gautam Adani plans to launch at least five IPOs between 2026 to 2028</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/idbi-bank-posts-60-growth-in-profit-in-third-quarter/articleshow/97251640.cms">IDBI Bank posts 60% growth in profit in third quarter</a>

SME digital bank can provide services like business CASA accounts to MSMEs: Biz2Credit co-founder

<ul><li>Goldman Sachs, Morgan Stanley, UBS and Nomura have slashed India rating, citing expensive valuations.</li><li>Analysts feel the risk-reward for Indian equities is less favorable at current levels.</li><li>But if Indian bonds are included in the global bond index, it could lead to a sudden influx of $15-20 billion dollars into India.</li><li>Check out the last news and updates on Business Insider.</li></ul>The Indian share market has given the most amount of returns, as measured by the Nifty and the <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword>, for those who have held their stakes since the start of this year, compared to anywhere in Asia. Now, it’s time to book profits, say <keyword id="1738775" type="General" weightage="20" keywordseo="global-investment-banks" source="Orion">global investment banks</keyword> like Goldman Sachs, Morgan Stanley and UBS, who have cut their rating on Indian equities. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian stock market indices </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">This year so far </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sensex </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">26% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty 50 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">29% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hang Sang index (Hong Kong) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SSE Composite Index (China) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nikkei 225 (Japan) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Singapore Exchange Limited </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.75% </td></tr></tbody></table> Goldman Sachs has also downgraded its rating on Indian equities from ‘overweight’ saying the risk-reward ratio is not as favourable, any more, as it was in November last year. Morgan Stanley has said that the stocks have peaked and the returns may not be as exciting in the next 3-6 months. Rising inflation both in the US and India may hurt Indian stock markets. The analysts at Morgan Stanley said that they expect the Reserve Bank of India (RBI) to increase interest rates in February 2022. Inflation has been a cause of concern for many companies this earnings season including consumer goods giants — including Marico, Nestle, Hindustan Unilever, Britannia and Parle to name a few ⁠— that may have to pass on more price hikes if inflation remains high. In fact, consumer product companies are <a href="https://www.businessinsider.in/retail/news/profit-margin-of-britannia-declines-in-q2-of-fy-2022/articleshow/87600806.cms">unable to hike prices</a> to cover the entire rise in costs and that has led to shrinking margins for many. The risk of a mutant virus that is resistant to vaccines is the biggest downside risk, as it might leave the government no choice but to roll out new mobility restrictions, say analysts at UBS. More restrictions would mean several pockets of the economy would be forced to halt physical operations leading to slowdown in economic activity. What could turn the tide in India’s favour? A correction in the market typically means either a fall in prices or they remain stagnant or rangebound for a while. The latter is also called ‘time correction’. But there could be other factors that could come into play too. For instance, India has been pushing to get its bonds included in the global indices. UBS emerging markets strategist Rohit Arora has said that it is possible in early 2022 while Bloomberg has noted that these decisions are usually announced in September. If it happens, India could see a foreign fund inflow of $15-20 billion and that could be a big mover for the equities too. <div type="image" title="FII" height="900" width="1200" msid="87667318" hostid="261"></div> What is a global bond index? Think of a <a href="https://www.businessinsider.in/india/news/prime-minister-narendra-modi-speech-on-vaccine-celebration-was-a-pitch-for-an-ratings-upgrade-for-india/articleshow/87200802.cms">global bond index</a> like the Sensex but for bonds. And India wants its debt to be a part of it. It adds a stamp of credibility, and the rating denotes repayment capacity, which will draw more foreign investors to buy government debt. India will be able to borrow money at a cheaper rate than what it does now. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/droom-files-for-3000-crore-ipo-the-online-car-dealer-wants-400-crore-for-acquisitions/articleshow/87664165.cms">Droom files for ₹3,000 crore IPO ⁠— the online car dealer wants ₹400 crore for acquisitions</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/the-mystery-behind-the-fall-in-tata-steels-shares-despite-a-seven-fold-rise-in-profit/articleshow/87663158.cms">he mystery behind the fall in Tata Steel’s shares despite a seven-fold rise in profit</a>

Small investors ahoy! Global investment banks are telling their clients to take profits from India

<ul class="summary-list"><li>CEO Michael Corbat sent out an internal memo on Tuesday announcing the firm's new class of managing directors.</li><li>The MD distinction, the highest title at the firm, was earned by 220 employees across the bank - 137 from the firm's Institutional Clients Group, which includes its dealmaking and sales and trading teams, and 25 in its Global Consumer bank. </li><li>Business Insider got ahold of Corbat's memo congratulating the 220 new MDs.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summarymarymary">Click here for more BI Prime stories</a>.</li></ul>Managing director is the highest title at Citigroup, and 220 employees recently earned a promotion to that elite group across the firm, according to a company-wide memo CEO Michael Corbat sent out Tuesday. Individual divisions began announcing newly promoted MDs last Friday, including <a href="https://www.businessinsider.com/citigroup-announces-137-new-managing-directors-in-trading-dealmaking-2019-12">137 in the firm's Institutional Clients Group</a>, which houses its dealmaking and sales and trading teams, and 25 in its Global Consumer bank. Another 58 promotions came in other areas of the firm, such as risk management, legal, and HR.Women represented 28% of the promotions, up from 25% last year. "This well-deserved honor is a significant career milestone for these individuals, and we can all take pride in their contributions to our firm. Please join me in congratulating them," Corbat wrote in the memo, which was reviewed by Business Insider.A company spokeswoman confirmed the contents of the memo.In November, <a href="https://www.businessinsider.com/goldman-sachs-announces-2019-managing-director-promotions-class-2019-11">Goldman Sachs announced</a> a class of 465 new managing directors, of which 29% were women. At Goldman the coveted MD promotions are announced once every two years and put recipients one step <a href="https://www.businessinsider.com/goldman-ceo-solomon-offering-buyouts-to-partners-shrink-senior-ranks-2019-9">below partner</a> at the investment bank. Bank of America also and <a href="https://www.businessinsider.com/barclays-managing-director-list-56-new-mds-corporate-investment-bank-2019-12">Barclays also announce</a> MDs in the fourth quarter, while Morgan Stanley's new class is typically unveiled in January and JPMorgan Chase ushers in its cohort in Spring.Here's the full list of all newly promoted managing directors at Citigroup, as well as their business line:<table cellspacing="0"><tbody><tr><td width="280" height="20">Name, Business / Function</td><td width="270">Name, Business / Function</td></tr><tr><td height="20">Gautam Abroal, ICRM</td><td>Armin Lindtner, Markets</td></tr><tr><td height="20">Vijay Albuquerque, Markets</td><td>Temmy Lizarzabal, BCMA</td></tr><tr><td height="20">Roberto Armenteros, EIO&amp;T</td><td>Mauricio Lopez Lajud, Mexico Consumer</td></tr><tr><td height="20">Rohit Arora, EIO&amp;T</td><td>Armando Lopez, Markets</td></tr><tr><td height="20">Scott Athey, Finance</td><td>Ken Loughran, Internal Audit</td></tr><tr><td height="20">Jane Bachmann, Private Bank</td><td>Kate Luft, APAC Consumer</td></tr><tr><td height="20">Jorge Baez, Mexico Consumer</td><td>Krishna Majithia, Risk Management</td></tr><tr><td height="20">James Balkwill, Private Bank</td><td>Srini Manthripragada, ICG O&amp;T</td></tr><tr><td height="20">Rahul Banerjee, GCB</td><td>Eros Marshall, BCMA</td></tr><tr><td height="20">Ambrish Bansal, TTS</td><td>Faisal Masood, BCMA</td></tr><tr><td height="20">Sandeep Batra, APAC Consumer</td><td>Shalini Mathur, Private Bank</td></tr><tr><td height="20">Lorraine Berge, ICG O&amp;T</td><td>Waleed Matin, BCMA</td></tr><tr><td height="20">John Bekian, ICRM</td><td>Mark Maxson, Private Bank</td></tr><tr><td height="20">Pavan Bellur, BCMA</td><td>Dennis McCarthy, U.S. Consumer</td></tr><tr><td height="20">Charley Bensaid, Markets</td><td>Aoiffe McGarry, BCMA</td></tr><tr><td height="20">Karen Bernhard, Mexico Consumer</td><td>Patsy McGuire, HR</td></tr><tr><td height="20">Vishal Bhardwaj, GCB Operations and Fraud</td><td>Shweta Mehrotra, HR</td></tr><tr><td height="20">Sharon Blackman, Legal</td><td>Jason Miner, BCMA</td></tr><tr><td height="20">Brad Bloom, Markets</td><td>Minae Mizuno, Internal Audit</td></tr><tr><td height="20">Michael Boghosian, U.S. Consumer</td><td>Lora Monfared, U.S. Consumer</td></tr><tr><td height="20">Gregor Bollen, Private Bank</td><td>Ajit Moorthy, HR</td></tr><tr><td height="20">Darren Brighton, Markets</td><td>Joydeep Mukherjee, Global Commercial</td></tr><tr><td height="20">Brian Carlstead, Markets</td><td>Rapheal Mun, BCMA</td></tr><tr><td height="20">Andre Carvalho De Sanctis, TTS</td><td>Eric Natelson, Markets</td></tr><tr><td height="20">Aman Chadha, TTS</td><td>Danny Nathan, Markets</td></tr><tr><td height="20">Padmaja Chakravarty, Legal</td><td>Mike Newton, Markets</td></tr><tr><td height="20">Aaron Chandrasakaran, BCMA</td><td>Gilbert Ng, BCMA</td></tr><tr><td height="20">Victoria Chant, Markets</td><td>Kenichiro Nitta, Markets</td></tr><tr><td height="20">Bryan Chao, Markets</td><td>Isobel Nordstrom, BCMA</td></tr><tr><td height="20">Gary Chen, Global Commercial</td><td>Meghan O'Connor, BCMA</td></tr><tr><td height="20">Selene Cheng, Markets</td><td>Alex Oechler, BCMA</td></tr><tr><td height="20">Manik Chhabra, Global Commercial</td><td>Liam O'Gara, Finance</td></tr><tr><td height="20">George Clayton, Risk Management</td><td>Jason Osborne, GCB</td></tr><tr><td height="20">Lisa Cochran, GCB Technology</td><td>Justin Palamara, ICG O&amp;T</td></tr><tr><td height="20">Francisco Conceicao, Holdings</td><td>Anthony Pantina, Risk Management</td></tr><tr><td height="20">Natasha Condon, TTS</td><td>Lee Pelayo, Private Bank</td></tr><tr><td height="20">Jason Cramer, U.S. Consumer</td><td>Marco Antonio Dias, Markets</td></tr><tr><td height="20">Tom Curley, HR</td><td>Joe Pergola, ICG O&amp;T</td></tr><tr><td height="20">Trudy Curtis, TTS</td><td>Kim Persaud, Risk Management</td></tr><tr><td height="20">Scott Damassa, TTS</td><td>Krista Phillips, GCB</td></tr><tr><td height="20">Jiten Dave, HR</td><td>Kristina Pi, Markets</td></tr><tr><td height="20">Roberto de Andrade, Private Bank</td><td>Jennie Platt, U.S. Consumer</td></tr><tr><td height="20">Terry Dennis, TTS</td><td>Tommaso Ponselè, BCMA</td></tr><tr><td height="20">Dipali Devaskar, ICG O&amp;T</td><td>Laura Posse, BCMA</td></tr><tr><td height="20">Carol Dewar, EIO&amp;T</td><td>Enrico Prato, BCMA</td></tr><tr><td height="20">Allegra Digia, HR</td><td>Jennifer Pu, BCMA</td></tr><tr><td height="20">Todd Domecq, Retail Services</td><td>Kim Pulliam, GCB Operations and Fraud</td></tr><tr><td height="20">Sara Domingos, Internal Audit</td><td>Rakesh Purohit, Markets</td></tr><tr><td height="20">David Dong, Markets</td><td>Colm Rainey, BCMA</td></tr><tr><td height="20">Cormac Donohoe, Markets</td><td>Rajakumar Ramalingam, TTS</td></tr><tr><td height="20">Samantha Dorfman, EIO&amp;T</td><td>Shellie Rayford, Internal Audit</td></tr><tr><td height="20">Nitesh Dugar, BCMA</td><td>Ben Rayner, ICG O&amp;T</td></tr><tr><td height="20">Santosh Dujari, TTS</td><td>Robert Redshaw, BCMA</td></tr><tr><td height="20">Emma Duncombe, HR</td><td>Oliver Rey-Beckstrom, Global Commercial</td></tr><tr><td height="20">Jaya Dutt, Markets</td><td>Francisco Abreu, Global Commercial</td></tr><tr><td height="20">Berry East, Finance</td><td>Juan M. Rincon-Cortes, Legal</td></tr><tr><td height="20">Alvaro Echeverry, ICG O&amp;T</td><td>Amar Rizvi, BCMA</td></tr><tr><td height="20">Belinda Ellington, Legal</td><td>Frank Rodrigues, ICRM</td></tr><tr><td height="20">Rachid El-Mohammadi, Markets</td><td>Diego Rojas, Finance</td></tr><tr><td height="20">Brad Epstein, BCMA</td><td>Miguel Romo, Private Bank</td></tr><tr><td height="20">Eliza H Eubank, Risk Management</td><td>Andrea Rossato, Private Bank</td></tr><tr><td height="20">El Ezzine, Markets</td><td>Bill Rys, Global Public Affairs</td></tr><tr><td height="20">Rob Famulare, Markets</td><td>Luca Sabbatini, Markets</td></tr><tr><td height="20">Mark Fisher, Risk Management</td><td>Prosenjit Saha, Markets</td></tr><tr><td height="20">Caryn Freiberger, Markets</td><td>Anand Sairam, Finance</td></tr><tr><td height="20">Ed Fresco, Internal Audit</td><td>Marcelo Santos, Finance</td></tr><tr><td height="20">Andrea Galvis, Markets</td><td>Matteo Sardo, Markets</td></tr><tr><td height="20">Pranjal Gambhir, BCMA</td><td>Ganesh Sarpotdar, BCMA</td></tr><tr><td height="20">Chris Gartin, BCMA</td><td>Zoltán Schwardy, Global Commercial</td></tr><tr><td height="20">Serene Gay, APAC Consumer</td><td>Mauricio Schwartzmann, Mexico Consumer</td></tr><tr><td height="20">Leo Gazzo, TTS</td><td>Rafa Serrano, Markets</td></tr><tr><td height="20">Ryan Gilliam, Legal</td><td>Kashif Shabbir, ICRM</td></tr><tr><td height="20">Jason Gordon, Retail Services</td><td>Vaibhav Sharma, Private Bank</td></tr><tr><td height="20">Deborah Gowland, Markets</td><td>Scott Slavik, BCMA</td></tr><tr><td height="20">Paddy Green, Markets</td><td>Mohannad Sleiman, Private Bank</td></tr><tr><td height="20">Harpreet Grewal, APAC Consumer</td><td>Fabrizio Sommazzi, Internal Audit</td></tr><tr><td height="20">Peter Grinups, BCMA</td><td>Elissa Steinberg, Finance</td></tr><tr><td height="20">Daniel Gutierrez, Markets</td><td>Tim Stisser, Markets</td></tr><tr><td height="20">Onjada Haggard-Richardson, Private Bank</td><td>Lee Street, Markets</td></tr><tr><td height="20">Andreas Hamm, EIO&amp;T</td><td>Sunder Subramanian, ICG O&amp;T</td></tr><tr><td height="20">Adam Harper, Private Bank</td><td>Will Taing, Markets</td></tr><tr><td height="20">Mario Hernandez, Internal Audit</td><td>Wei Tang, Markets</td></tr><tr><td height="20">Justin Herrmann, Risk Management</td><td>Mayuri Tateishi, Markets</td></tr><tr><td height="20">Lorraine Hogan, Internal Audit</td><td>AlexTaylor, HR</td></tr><tr><td height="20">Niall Hornett, Markets</td><td>Prashant Thakker, BCMA</td></tr><tr><td height="20">John Hutcheson, BCMA</td><td>Alex Todd, Markets</td></tr><tr><td height="20">Tanaaz Irani, APAC Consumer</td><td>Nagib Touma, ICRM</td></tr><tr><td height="20">Rich Iseman, TTS</td><td>Neil Toy, Markets</td></tr><tr><td height="20">Yuka Izumi, BCMA</td><td>Matt Turnbull, Markets</td></tr><tr><td height="20">Andrew James, Private Bank</td><td>Jacob Turner, Legal</td></tr><tr><td height="20">Dawid Janas, TTS</td><td>Rudy Vela, BCMA</td></tr><tr><td height="20">Anurag Jodhawat, Markets</td><td>Mike Vondriska, BCMA</td></tr><tr><td height="20">Jessica Johnson, Finance</td><td>Martin Watson, Markets</td></tr><tr><td height="20">Alex Juricev, BCMA</td><td>Brad Wayman, U.S. Consumer</td></tr><tr><td height="20">Georgia Kaliora, Markets</td><td>Milly Webb, ICG O&amp;T</td></tr><tr><td height="20">Sietske Kalse, Markets</td><td>Chris Welland, EIO&amp;T</td></tr><tr><td height="20">Mayank Kaul, Risk Management</td><td>James West, ICG O&amp;T</td></tr><tr><td height="20">Kaan Kesedar, BCMA</td><td>Graham Westgarth, Finance</td></tr><tr><td height="20">Yoon Kim, BCMA</td><td>Chris Wetherbee, Markets</td></tr><tr><td height="20">Tokiya Kishie, Markets</td><td>Scott Wexler, BCMA</td></tr><tr><td height="20">Jasmin Koelbl-Vogt, Legal</td><td>Martin Wilkie, Markets</td></tr><tr><td height="20">Robert Kong, Markets</td><td>Dan Willett, Markets</td></tr><tr><td height="20">Patrick Kosiek, BCMA</td><td>Jeffrey Wool, Legal</td></tr><tr><td height="20">Neeraj Kumar, BCMA</td><td>Whitney Xun, Private Bank</td></tr><tr><td height="20">Sampath Kumar, Internal Audit</td><td>Ruo Yang, BCMA</td></tr><tr><td height="20">Anubhav Kunwar, ICG O&amp;T</td><td>Yuri Yermakov, Risk Management</td></tr><tr><td height="20">Marta LaRusso, Risk Management</td><td>Yi Yong, Markets</td></tr><tr><td height="20">Alfredo Lelo De Larrea, Private Bank</td><td>Tony Yuen, Markets</td></tr><tr><td height="20">Tammy Levine, U.S. Consumer</td><td>Sophia Zhu, ICRM</td></tr><tr><td height="20">Cori Lin, GCB</td><td>Matt Zimmerman, Markets</td></tr></tbody></table><a href="https://www.businessinsider.com/intelligence/banking?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=wallstreet&amp;itm_campaign=banking-2"></a>

Citigroup CEO Michael Corbat sent out an internal memo congratulating the bank's new class of managing directors - we got the entire list of 220 names

<div class="KonaFilter image-container float_right click-to-enlarge"><div class="image on-image"><a title_source="Getty/Justin Sullivan" title_caption="San Jose is this year's best city to grow a small business, according to Biz2Credit." class="zoomin" href="https://static-ssl.businessinsider.com/image/5374e2b0ecad04850291670d-960/san-jose-8.jpg"></a>Getty/Justin SullivanSan Jose is this year's best city to grow a small business, according to Biz2Credit.</div></div>San Jose, a hub of Silicon Valley, is the best city for small business in the United States, according to <a href="https://www.biz2credit.com/research-reports/2014-best-small-business-cities-in-america">Biz2Credit's new ranking</a>, out in time for National Small Business Week. 
This is the second annual report by Biz2Credit, an online credit marketplace for small businesses. The rankings are based on a weighted average that includes local small businesses' annual revenue, credit score, age in months, cash flow, debt-to-income ratio, incorporation, and the business owners' personal credit scores. All data is from 2013. 
A small business is defined as one with fewer than 250 employees and less than $10 million in annual revenues. 
San Jose's No. 1 ranking is based on Main St. stores rather than tech startups. "The uplift in the northern California economy has not just benefited tech-centric startups," says Rohit Arora, cofounder and CEO of Biz2Credit. The money and workers brought in by high-profile tech companies boosts all Silicon Valley businesses, including gas stations, restaurants, and boutique shops, he explains.
Perhaps surprisingly, Detroit ranks as No. 2 on this year's list. Arora says Michigan's government has made credit more accessible, and the automotive industry's rebound has benefited businesses in the Detroit-Dearborn area.
You can find the data breakdown for each metro area in <a href="https://www.biz2credit.com/research-reports/2014-best-small-business-cities-in-america">the complete report at Biz2Credit.com</a>.

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SME digital bank can provide services like business CASA accounts to MSMEs: Biz2Credit co-founder

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Small investors ahoy! Global investment banks are telling their clients to take profits from India

Bhakti Makwana

Citigroup CEO Michael Corbat sent out an internal memo congratulating the bank's new class of managing directors - we got the entire list of 220 names

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