Ok. Because the man who knows more about crypto than me isn't going to type all this in Twitter, I will. Thread coming up. Mistakes my own. But any good quality info goes to the ex-classmate from MBA who knows stuff way better than me (1/n) First up Central Bank Digital Currency (CBDC) vs Cryptocurrency. They are totally different things. How? Crypto is based on two concepts. 1. A Public ledger linked by blocks and 2. Proof of work that determines who can edit that block.(2/n)

Reliance invests in Glance. Analyst: 'This is great for monetization because even if phone users don't like it, they don't know how to turn it off and it is on their lockscreen.' This is an absolutely amazing line. (1/n) One of the marketing textbook ideas is 'delivering customer value and customer delight.' This is exactly the opposite of the textbook ideal. And while it makes money for the glance app and 'monetization' can be done, it is at the cost of customer irritation. (2/n)

A grim (but good) piece from @andymukherjee70. And one that's hard to argue against. But I will try. First, on the facts, there's little to disagree. But as a child of liberalisation rather than scarcity, I have a (slightly) more optimistic hope. (1/n)

https://twitter.com/andymukherjee70/status/1332523105546162176

A bit of history to provide context. India had 2 movements in the early 1900s. One which is more well known, is of course the political freedom movement. But it was preceded by social reform that attacked the problems of caste, gender as well as class. (2/n)

This is a fantastic thread from @deepakshenoy. Must read for those surprised that equity was not wiped out first! I will also add a brief explanation of why such wording is added to the document. (1/n)

https://twitter.com/deepakshenoy/status/1235922337205112833

First some background. Equity shareholders are supposed to get wiped out before any debt holder is exposed. This is usual understanding we all learn. However banks are slightly different (2/n)

Here's a thread on how some NBFCs fund projects. This may also help explain why they may have low NPA's but are still in trouble. (1/n) Let's say you are a builder. You need to procure land, buy material, bribe people (ummm... expedite permits) and so on. But no bank will give you funding at this super early stage. (2/n)

Ok. Watched an edited portion of Yes Banks presentation to analysts. My thoughts on one specific aspect that worries me as a customer. (1/n) Ravneet Gill mentioned that Yes Bank is now the 2nd largest processor of UPI transactions (my guess is due to phonepe). He then said that the payment volumes are not the number to focus on (2/n)

Ok. I will do my own little explainer since I found the usually excellent @andymukherjee70 a little light. Usual caveats apply. This is based on my knowledge of how banks and LoU's work. This may not be how the real fraud happened LoUs issued to foreign banks or branches are almost always sent through SWIFT. SWIFT is a messaging system. A bit like WhatsApp for banks