Should India Make a Transition to the Cashless Economy?

 

cashless economy

Image credits: FeeGenie

The current policy decision to demonetise high-denomination notes will provide a big fillip to the cashless economy. In this context, the Finance Minister Arun Jaitley remarked that the demonetisation  scheme will “not merely nudge the economy in the direction of the cashless economy but [give it] a significant push in that direction.”

The scheme is expected to effect behavioural change by forcing people to adopt cashless means of payments. (Read more about demonetisation in this article: http://economyria.com/demonetisation-of-currency-explained/)

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Trans-Pacific Partnership without USA : What’s happening?

tpp-without-us

TPP( Trans-Pacific Partnership), a pact branded as the world’s most ambitious free-trade agreement is nearly coming to end. Involving 12 Pacific Rim countries, including America, Japan and Canada, the Trans-Pacific Partnership represented roughly 40% of global GDP, and one-third of world trade. (Read in detail about TPP in this article: The Trans-Pacific Partnership Deal (TPP): Demystified)

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Don’t be confused- Loan Write off is not a Waiver

loan write off

“Written off does not mean maafi…. It doesn’t mean that the loan ceases to be a loan. We will still chase the loan, the entry in the book changes from being a performing asset to a non-performing asset.”

-Finance Miniter, Shri Arun Jaitley

Write-offs are a very common tool to clean up bank balance sheets around the world. It does not mean Vijay Mallya or anyone else for that matter is off the hook. Earlier this year, China’s top four banks wrote off 130.3 billion yuan (equivalent to 19.5 billion dollars) of bad loans for the first half of the year. It was an increment of 44 percent from the previous year. Moreover, from fiscal 2011 to fiscal 2015, India’s banking industry also wrote off a cumulative Rs 1.76 trillion worth of loans.

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Demonetisation of currency in India: Explained

Demonetisation of currency

The Indian Government has discontinued the use of old Rs 500 and Rs. 1000 notes. In other words, the legal tender character of the notes in these denominations stands withdrawn. This decision became effective from the midnight of 8th November 2016.

Furthermore, the Government will introduce new notes in Rs 500, Rs. 1000 and Rs. 2000 denominations.

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Sukanya Samridhi Yojana Details

Sukanya Samridhi Yojana Details

Sukanya Samridhi Yojana Details

On 22 January 2015, the Prime Minister Narendra Modi launched a special deposit scheme known as the Sukanya Samriddhi Yojana. Under this scheme, the natural or legal guardian of a girl child can open an account in her name and avail certain benefits.

The objective of the scheme is to alleviate the worries of Indian parents about the marriage and education expenses of their daughters.  

The Sukanya Samridhi Yojana is basically a girl child prosperity scheme which was launched as part of the -‘Beti Bachao-Beti Padhao‘ campaign. This is an effort to motivate parents to open an account in the name of a girl child.

This article ‘Sukanya Samridhi Yojana Details’ explains all the relevant features related to this scheme.

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