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. Continue reading
“Operational risk is the risk that is not inherent in financial, systematic or market-wide risk. It is the risk remaining after determining financing and systematic risk, and includes risks resulting from breakdowns in internal procedures, people and systems” defines investopedia.
Here is a classic case study how the famous brokerage firm Knight capital failed. More than 3 years ago, Knight Capital suffered a loss of nearly half a billion dollars and needed to sell itself after a defective software resulted in nearly $7 billion of wrong trades. The US SEC issued an order against Knight Capital that described exactly what happened this is interesting: Continue reading
Yesterday attended a leadership program at South Mumbai. It was great to hear how the Indian companies have continued to aspire generations through Leadership. They are well known brands across the globe and some of them are pioneer in themselves.
Coming back to the topic Kingfisher, on the basis of personal vanity, and continued vanity is now shrinking Vijay Mallya business from empire to kingdom as Kingfisher’s Rs 7,000 crore dues force him to sell large parts of his better businesses bit by bit.
The short point is this: in his blind pursuit of a “sexy” hubris-driven business like civil aviation, Vijay Mallya is now about to lose his crown jewels. His is a classic demonstration of management guru Jim Collins’ five-stage process of letting a business slip from success to failure. Only, in his case, Mallya has lost more than just one business. He is losing half his empire. Continue reading
In the past years my posts on 14th February some way or the other have been in conversations between Love and Finance, my last post in 2013 on Feb 14th was a kind of open proposal expression through the priceless charts Love you by Finance Market Professional : Valentine day! , also today my blog turned-up 6 years old, and my first ever post was on the Mergers and Acquisitions in India! and the government policies .
Getting back to the topic for today A few years ago, somebody asking this question on market timings would have been dismissed as a nit-picking nerd, but today that question has become extremely important. Last week, the Wall Street Journal’s Money Beat blog ! carried an interesting story about how this difference cost a trader $100,000. Continue reading