The Indian Government has discontinued the use of old Rs 500 and Rs. 1000 notes. This decision had become effective from the midnight of 8th November 2016. The Demonetisation scheme was introduced mainly to unearth black money. Black money is a huge concern in India. As per a study by Ambit capital research, black money in …
India ranks 130th out of 190 countries in the World Bank’s Doing Business report 2017. India ranked 131st in 2016 and 134th in 2015. New Zealand has topped the ranking in 2017 followed by Singapore. (Note: Data in the World Bank’s Doing Business 2017 report are as of June 1, 2016)
The Organization of the Petroleum Exporting Countries(OPEC) has designed a deal to cut its oil production by 1.2 million barrels per day. This has been done to increase the oil prices globally. It has planned to re-balance the oil market by cutting back its production to 32.5 million barrels per day from 1 January 2017. …
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 …
Should India Make a Transition to the Cashless Economy? Read More »
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)
“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 …
Don’t be confused- Loan Write off is not a Waiver Read More »
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 In other words, the legal tender character of the notes in these denominations stands withdrawn.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.