Here are some dashboard points that I expect after the clean up of the old currency what we can expect on the Indian economic scenario :
A huge amount of around 15-20 lakhs crore of black money would be identified
We will see a bump of 8 to 10% in deposit with banks
Out of the money identified 15 to 20 lakh would be withdrawn over a period of two to three months
Substantial amount of money around 2.5 to 3.5 lakh cr would still remain in system
There would be a wealth destruction of around 3-4 lakhs crores
30% of money will not reach back to RBI
Next 2 to 3 months property prices and land prices can drop till 30 to 35%
Since there is a surge of deposit huge demand for Govt bonds would be there View full article »
Sharing an important Circular from RBI and GOI, Please do not panic and understand the motive behind this great initiative:
The Government and keeping in view the need to minimise inconvenience to the public, the following operational guidelines have been issued:-
- Old High Denomination Bank Notes may be deposited by individuals/persons into their bank accounts and/or exchanged in bank branches or Issue Offices of RBI till the close of business hours on 30thDecember, 2016.
- Old High Denomination Bank Notes of aggregate value of Rs.4,000/- only or below held by a person can be exchanged by him/her at any bank branch or Issue Office of Reserve Bank of India for any denomination of bank notes having legal tender character, provided a Requisition Slip as per format to be specified by RBI is presented with proof of identity and along with the Old High Denomination Bank Notes. Similar facilities will also be made available in Post Offices. View full article »
Back from the long Diwali holidays, time to reboot on the markets, long breaks are always good to revive and get some thoughts from your near and dear ones.
On the way back from Bhopal to Mumbai, some fellow passengers were curious about the markets and the train was late as much as 6 hours. It was a holiday special train and passengers paid a premium to board the train compare to other routine trains, they expect the train to come on time as the fare is higher. I did exchange few tweets with the railways department for delayed train.
Getting back to the theory as the fellow stranger passengers did not have a good time with markets as well, most of them were trying to time the market. View full article »
This is interesting peace I got from an anyonomous source , but worth reading regarding the feel on BREXIT, if it would have been the case of divorse :
Hard Divorce: You lose the house, money, everything, and have no access to kids
Soft Divorce: You get access to the kids, but don’t expect any sex or anything like before. It’s different now View full article »