Thank you for visiting my Blog. Not all of us were born in a rich family and we always think about retiring as a CROREPATI. Thinking is one thing, have you done anything to achieve that dream?
Thursday, November 17, 2016
Tuesday, November 15, 2016
There are some people suggesting that this reduced money supply might have a deflationary effect. As this short-supply is an interim situation rather than a long-term predicament, we cannot just say that this move will result in Deflation in all sectors of the Economy. However, whether the reduced money supply will just result in just a reduced demand or Deflation or a mix of both will vary from sector to sector depending on the nature of the goods or services under question.
Hawala traders and fake currency rackets primarily fuel the growth of terrorism in most countries across the globe. There has been no news of stone pelting or stray violence incidents in the past 3-4 days. Maybe this Demonetization is having the impact on separatist groups who are paying people to cause such ruckus because all their money is worthless now.
Wednesday, November 9, 2016
500 and 1000 Rupees are No Longer Legal Tender – A Brilliant Move by the Indian Government to Curb Black Money
- For the 3 days (9, 10, 11 Nov) all Government Hospitals will continue to Accept the old 500 and 1000 rupee notes for payment
- For the 3 days (9, 10, 11 Nov) all Railway/Bus/Airline ticket booking counters will accept the old 500 and 1000 rupee notes for purchase of tickets
- For the 3 days (9, 10, 11 Nov) the old 500 and 1000 rupee notes will be accepted at all
- Petrol Pumps authorized by the Public Sector Oil Cos
- Consumer co-operative stores authorized by the State or Central Government
- Milk booths authorized by State Governments
- Crematoriums and Burial Grounds
Important Note: There are rumours going around that some micro chip is embedded in the new 2000 rupee notes which may or may not be true. We have not gotten an official announcement from RBI either (I checked their website). So, whether 2000 notes can be traced by government to abolish black money is something we cannot comment now that is why I haven't talked about that in this article.
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