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Search found 426 matches

by nandakumar
01 Apr 2017 16:16
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Aug 26 2015
Replies: 2885
Views: 164825

Re: Indian Economy News & Discussion - Aug 26 2015

India did do QE, of a kind. Unlike the US where the Fed bought toxic assets. India expanded public expenditure at the cost of increasing fiscal deficit. This was part of a G20 consensus way back in 2008. The US was very keen that all G20 countries participate so that their EQ stimulus doesn't hurt t...
by nandakumar
27 Mar 2017 21:26
Forum: Military Issues & History Forum
Topic: LCA: News & Discussions - October 2016
Replies: 3019
Views: 410465

Re: LCA: News & Discussions - October 2016

I do not know anything about the technology of vibration dampners. But I know that during my days at Telco (Tata Motors) that a start up company based in Madras founded by a former professor of IIT Madras started supplying vibration dampners to the Tata vehicles. The company, if I remember correctly...
by nandakumar
15 Mar 2017 08:05
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Aug 26 2015
Replies: 2885
Views: 164825

Re: Indian Economy News & Discussion - Aug 26 2015

A_Gupta wrote:What are an Indian city corporation's sources of revenue?

In Maharashtra it is Octroi (entry tax) but elsewhere it is property tax. But mostly it is handouts from the States and more recently devolution from the Centre.
by nandakumar
03 Feb 2017 16:35
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

Cheques are negotiable instruments. Which is why you hear of someone being prosecuted under the Negotiable Instruments Act for dishonour of a cheque. The title to the value implicit in the instrument can be endorsed and transferred if it is not made out as Account Payee to the name of the 'payee'. A...
by nandakumar
29 Jan 2017 15:45
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Aug 26 2015
Replies: 2885
Views: 164825

Re: Indian Economy News & Discussion - Aug 26 2015

Old school journalism frowned upon question mark in the headline. Unfortunately in this day and age of clickbait digital media journalism question mark headlines have become mainstream journalism.
by nandakumar
20 Jan 2017 16:18
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

The JPC is a producers' body. In the pre liberalisation era they would make allocation of who gets what quantity of steel. Now it is just like any other industry association, collecting production data. So technically the steel plant output could be leading to stock yard inventory build up or even d...
by nandakumar
17 Jan 2017 21:02
Forum: Military Issues & History Forum
Topic: Indian Army News & Discussions - 11 June 2014
Replies: 2562
Views: 140886

Re: Indian Army News & Discussions - 11 June 2014

at high altitude most humans struggle to feel taste or sometimes lose appetite... but still require a lot of calories to function not surprised that soldiers complain of the food not being tasty - but this is not a 'neglect' issue as such Forget about high altitude. I have tasted MTR, Aashirwad and...
by nandakumar
13 Jan 2017 13:47
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

Sachin, I had already said those with current a/c's have no constraint in depositing or withdrawing cash esp current a/c holders with pvt banks. Only problem is with those with SB a/c. secondly pvt banks like icici, axis, hdfc spend a lot of effort to 'cultivate' + wine & dine auditors in charg...
by nandakumar
10 Jan 2017 11:28
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

From Spinster Mrs IG nationalized banks in 1969. When IG split the Congress,the treasurer of Congress party was Venkata Subbiah prior to the split into Cong I and Cong O ( Congress Indira Gandhi And Congress Organization) the Congress party constitution allowed only Treasurer of the party to with d...
by nandakumar
09 Jan 2017 21:48
Forum: Strategic Issues & International Relations Forum
Topic: Analyzing CPEC
Replies: 498
Views: 53844

Re: Analyzing CPEC

To be honest I didn't think of transhipment by sea. But that only makes the case against Gwadar even stronger. The huge mother ships load at Rotterdam if we are talking of European cargo. They unload at Colombo. From there smaller vessels take the cargo to either ports of destination on the east or ...
by nandakumar
08 Jan 2017 21:13
Forum: Strategic Issues & International Relations Forum
Topic: Analyzing CPEC
Replies: 498
Views: 53844

Re: Analyzing CPEC

No logistics manager of a manufacturing unit in the Western part of India would want a raw material or component to be unloaded into Gwadar port and transported by road through Pakistan and diverted into India at Punjab or horror of horrors, via Jammu/Kashmir when he can unload the cargo into Mundra...
by nandakumar
05 Jan 2017 21:40
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

Shiv Quote: This is the exact question I asked - but I got the impression that I as pushing it too far although the man is my friend. Maybe I could trick him into revealing names - but that will have to be some other day.But as a direct answer to your question here is the impression I got. I was tol...
by nandakumar
30 Dec 2016 12:37
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

RajeshG "No the explanation will probably be shown as cash on hand. Not income." If your reported incomes and known assets taken together, cannot explain the latest cash deposit post demonetisation announcement, it will be treated as income on which tax has not been paid. Cash (asset) is a...
by nandakumar
29 Dec 2016 10:09
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

The figure of 15.44 lakh crore as the value of 500 and 1000 rupee notes in circulation as on Nov 8th, is the figure given by the Minister of State for Finance in answer to a question in the Parliament. So that is the official figure.
by nandakumar
22 Dec 2016 22:47
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

Regarding sale transaction partly in cash and partly in cheque, I had an experience. I was the power of attorney holder for the sale of a property belonging to a relative of mine, some years ago. The buyer wanted to pay the sale consideration in cash and cheque. The implication was that the sale dee...
by nandakumar
22 Dec 2016 16:21
Forum: Military Issues & History Forum
Topic: CDS, Tri-Services Issues & Integration Debate
Replies: 237
Views: 16004

Re: CDS, Tri-Services Issues & Integration Debate

The manipulation of selection to senior positions of command begin from the rank of colonel to brigadier. Super session at this level does not raise any eye brows. It is after all at levels that is hardly considered newsworthy. Once it is done systematically all the way up, the chosen person automat...
by nandakumar
22 Dec 2016 14:38
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

Nandakumarji, there have been instances (in the news) of people taking a color photocopy of the 2000 rupee note (or some similar low tech forged currency). If it makes you any happy, I have had bus drivers in Europe check my 20 euro note. Your are right. Perhaps I have to give her the benefit of do...
by nandakumar
22 Dec 2016 13:56
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

Was in Tirupati on Monday and Tuesday on a family pilgrimage. On Tuesday went to the Padmavati Thayar temple in Tiruchanoor. All of us deposited our mobile phones at the counter but SHQ forgot about the inactive mobile phone in her handbag which she keeps as a telephone directory for contacts built ...
by nandakumar
20 Dec 2016 22:48
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

Went around in search of cash , all 8 ATMs I visited were out of cash , after that I gave up and went home Its getting tiresome now Will have to go to the bank to withdraw cash tomorrow What is this fetish about drawing from an ATM? Drawing cash from a bank branch is just as good. Even if one's ban...
by nandakumar
14 Dec 2016 14:32
Forum: Strategic Issues & International Relations Forum
Topic: India-US relations: News and Discussions III
Replies: 3797
Views: 277919

Re: India-US relations: News and Discussions III

EOG Resources, another major oil producer in the US, using fracking technology reported that in the first nine months of 2016, their variable cost of extraction worked out to $12.5 per barrel. At least existing producers with invested dollars in field development have no reason to stop production at...
by nandakumar
11 Dec 2016 22:14
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

Armen T Your post reminds me of something that I experienced. One morning many years ago, I landed at my bank branch as soon as the branch had opened. The staff were just reporting in. I was standing in front of one of the counters to withdraw some money or do some other transaction, I forget what. ...
by nandakumar
07 Dec 2016 18:59
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

All that the banks are doing nowadays is to distribute cash. There is no other banking activity going on. there are no new deposits, no new advances, and neither is the new cash distributed coming back into banks. can somebody explain the economic consequences of this phenomenon. That is bound to h...
by nandakumar
04 Dec 2016 17:38
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

It was posted here or in the politics thread that Modi's recommendation to the Jan Dhan account holders not to return the money deposited by black money holders is not feasible. Apparently those black money holders have taken their ATM cards and also taken a post dated cheque from the JD account hol...
by nandakumar
03 Dec 2016 17:04
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

But the problem is not just evasion of tax. If there is any loot etc., then it is very problematic to justify it to people. That is why politicos will face a lot of problems. Yes. But it is still manageable. Lets say I am a PWD engineer and I have amassed 100 crore in bribe miney. I can offer it to...
by nandakumar
03 Dec 2016 15:03
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

After the latest amendment to the income tax law where unaccounted cash can be offered to tax @50% and 25% kept with the government under the PM Krishi Kalyan Scheme or whatever for five years, practically all of the demonetised currency will come back into circulation. It doesn't make sense for som...
by nandakumar
28 Nov 2016 22:34
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

In the last 20 days since demonetization I have managed to exchange 3 x Rs 2000 notes (Rs 6000) for purchases - getting Rs 4200 in change as Rs 100 and 50 notes. I don't find UPI/PayTM very useful yet. All my utility bills and a lot of other stuff was already e payments. My need for small notes is ...
by nandakumar
28 Nov 2016 22:01
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

Most co-op banks are in rural areas, clientele are dominantly agricultural. The income for them is tax free. A "farmer" deposits Rs. 10 lacs, says never trusted banks earlier but here is my accumulated farm income. What is IT officer going to do? Squat. IT guys aren't rookies in this busi...
by nandakumar
28 Nov 2016 21:56
Forum: Technology & Economic Forum
Topic: Indian Railways Thread (Dec 2015)
Replies: 1532
Views: 87132

Re: Indian Railways Thread (Dec 2015)

Of the 695 passengers on board the ill-fated Indore-Patna Express who booked online tickets, only 128 had opted for the insurance, which costs only 92 paise. can insurance purchase be made mandatory? Obamacare in the US pretty much did that for healthcare in the US. The basic principle in group ins...
by nandakumar
26 Nov 2016 21:52
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

nandakumar..thanks for the lucid explanation. i finally understood Double entry book keeping. I am happy you found it useful. Believe me, I am genuinely happy. I have been a teacher for a part of my professional life. As a teacher nothing gave me greater happiness than seeing that I was able to ill...
by nandakumar
26 Nov 2016 15:28
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

So yesterday I talked to a friend who is apparently knowledgeable about banking laws and practices. He says that the claim - that RBI will be able to write off about 3L Cr of BM that doesn't surface by March 31 and transfer that as dividend to the govt - is plain rubbish. His argument is that any c...
by nandakumar
25 Nov 2016 23:09
Forum: Strategic Issues & International Relations Forum
Topic: Indus Water Treaty
Replies: 2715
Views: 221306

Re: Indus Water Treaty

manjgu wrote:yes..water from sutlej does flow into Pakistan. we often dont dry it completely before it flows into pakistan...

And water from river Ravi too, if I am not mistaken. Remember news stories about terrorists entering Punjab on boats via the river Ravi?
by nandakumar
23 Nov 2016 08:08
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

Singha ji, Tata consultancy services, never made profit till three years before listing, as it is mandatory to show profits for 3 consecutive years in order that they become public Ltd company and the profits should be good enough so that you can demand premium over the nominal value of the shares....
by nandakumar
20 Nov 2016 08:42
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

Can Supreme Court overturn the notification on demonetising old Rs 500 and Rs 1,000 notes? The Court can do it in one of two ways. One, it can invoke the power conferred under Article 142 of the Constituion which talks about the power of the SC to "pass such decree or make such order as is nece...
by nandakumar
19 Nov 2016 20:54
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

Just came back from attending a meeting. An acquaintance who me there is associated with a company selling these PoS terminals. Says his company which was selling 5000 units a month is now doing 5000 units a day!
by nandakumar
18 Nov 2016 19:27
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

Regarding workers being paid by cheque or through electronic transfer by small and medium enterprises the problem is this. Most of them have not registered their workers for PF or ESI. Now, if they start making bank payments the PF and ESI inspectors would be after them. They can't say all these wor...
by nandakumar
17 Nov 2016 21:34
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

Endorse Supratik. As crises go this is nothing compared to what i had to go through last December at the time of the great floods in Chennai. Rains had ceased after unrelenting fury for five days. I remember responding to a Vina post then on something related to the Indian economy where I said, &quo...
by nandakumar
15 Nov 2016 21:57
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

Suraj's brilliant post a few pages back in response to a long winded question from me has opened up new areas in my mind. Black money is not just hoarded notes and ISI printed counterfeits - but it was Suraj's reference to the the "velocity" of money - the transactions that are conducted ...
by nandakumar
15 Nov 2016 19:38
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

I would like to add a few more points to my analysis in the light of posts of some of the members. Yes, the Govt could have have started the printing process earlier. But having said that one additional data point. The new Rs 2000 note is signed by Urjit Patel. He took over on Sep 11th, if my memory...
by nandakumar
15 Nov 2016 17:39
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7272
Views: 397229

Re: Currency Demonetisation and Future course of Indian Economy

The task of replacing notes (Rs 1000 and Rs 500) withdrawn from circulation and substitute it with legal tender of new Rs 500 and balance in combination of Rs 2000 will be a mammoth exercise even if we assume that 75% of the notes demonetised are are black money and is unlikely to be tendered. Here ...

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