Writer, Author, Speaker | Money | Books: Let’s Talk Money | Let's Talk Mutual Funds | Chair SEBI Committee for IPEF | World Fellow @Yale
May 19, 2023 • 4 tweets • 2 min read
I. (Why Friday night.
Why. @RBI) 1. Rs 2,000 note will be withdrawn from circulation. 2. It will not be illegal to hold it (like it was during #Demo to hold Rs 500 notes) 3. You can go an deposit as much as you want with bank branch.
Read this: rbi.org.in/Scripts/BS_Pre…
II. 4. Can exchange 2,000 for lower notes unto Rs 20,000 a day starting May 23. It seems you can go to multiple branches to do Rs20k withdrawals 5. You have till Sept 30, 2023 for this 6. Property deals to be impacted. Cash component still 20-60% of deal rbi.org.in/Scripts/FAQVie…
May 19, 2023 • 4 tweets • 2 min read
1. Updating this.
There is still confusion on the nitty gritty of the move. But the big picture is this:
99% of the people who use credit cards have limits below the LRS threshold.
To catch the wrongdoing of a few, the entire system is being riled.
2. There is big data. We are a tech heavy country, why can't compliances be used to catch the bad guys? Why does everybody have to increase the cash outflow and compliance burden to this extent. 3. If the govt really needs to show muscle in tax collection, go after agri income?
Sep 30, 2022 • 16 tweets • 2 min read
Repo is up by 50 bips
Repo is the rate at which RBI lends
A rate hike means an overall tightening of money and credit
Also works to dampen inflation
5 out of 6 members of the Monetary Policy Committee wanted a rate hike.
May 10, 2022 • 4 tweets • 1 min read
The more I read about the 70s and 80s with a policy hat on, the more I remember growing up in those decades of a supply-starved nation. One landline phone in 30 service class homes. One car in 50. Short supply of milk. Water. Everything.
The disaster that is lived socialism.
Now, finally, reading Growth is Good (2013)
Jagdish Bhagwati @APanagariya
Nov 24, 2021 • 11 tweets • 2 min read
Thread on crypto and India's move to ban privately held 'currencies'.
1. China did this in Sept 21 suddenly.
India will debate a ban on private crypto currency in the Winter session of Parliament 21.
El Salvador is using Bitcoin as national currency.
Millions of people are 'invested' in various cryptos.
Who is right?
What should you do?
Nov 13, 2021 • 12 tweets • 3 min read
Thread on RBI's retail outreach. 1. I have argued for sometime (livemint.com/Money/bf2Wt6ER…) now that Indian depositors pay a high cost for guaranteed return when they go via traditional life insurance policies and banks. These institutions shave off a large chunk as costs.
2. What if we, as retail depositors, could access government securities directly? Not for daily trading, which is highly risky. Not even for buying and selling on the secondary market, which is highly risky, but for buying at issue and holding to maturity.
Aug 30, 2021 • 7 tweets • 2 min read
Thread.
As you watched the Sensex soar 765.04 points today to close at 56,889.76, you were either getting a big dose of FOMO or were grinning, pleased with your equity allocation strategy being right.
1/n
I ask the FOMO crowd this: If you found the market was too risky or too high at 27,590.95 on 3 April 2020, why would you invest in it when it has more than doubled in 16 months? You saw the market crash from 41k down to below 28k and found the risk untakeable. 2/n
May 27, 2021 • 5 tweets • 2 min read
The quest for money.
Sudden covid deaths are leaving those left behind in a blind search for assets and liabilities.
I write a series that tries to put the pieces together.
1. Post-death Money Trail: 7 people who can help. monikahalan.wordpress.com/2021/05/27/pos…
The second in the series of how to reconstruct the financial life of a person suddenly gone.
Tested positive.
Doc says the first jab and the lost sense of smell could mean a kinder journey.
Mask up.
Take the jab.
Thanking all of you for your good wishes. I'm almost on the other side of this. Your prayers have done their work!
I also want to share some hacks that helped me.
Feb 1, 2021 • 51 tweets • 25 min read
I will be live tweeting #Budget2021 from the studio of @TimesNow
That the government will spend big is a given.
The big question remains - where will it raise the money?
Tax the rich?
Borrow?
Print money?
Can't remember the last time I heard such a passion filled eco survey delivery! @SubramanianKri
Super energy and I really like the effort to get the non-icon people on board using simple analogies and stories.
Specially the malgudi days grow the pie one! @sanjeevsanyal
Thread on what the @RBI just did and what it means...
Rs 50,000 crore window of funds for mutual funds
RBI says that there is liquidity stress in the mutual fund debt funds and there is a threat of a contagion to other parts of the market. This stress is right now only in the higher risk paper, but the fear can spread. Therefore, opened a special window of Rs 50,000 crore for MFs
Apr 17, 2020 • 22 tweets • 8 min read
The @RBI press conf about to begin. I will be live tweeting what it means for us. @livemint
Will be making announcements. Hang in for a lengthy meeting! @livemint
Mar 27, 2020 • 20 tweets • 2 min read
RBI Gov begins his announcements.
MPC voted for a 75 Bips cut in repo to 4.4%
Reverse repo cut by 90 bips to discourage banks to keep funds at RBI
Mar 5, 2020 • 14 tweets • 4 min read
Yes Bank depositors can now only withdraw Rs 50,000 starting today and until April 3. This is an aggregate amount across all bank accounts - savings, deposits, current accounts. This is the limit for more than one account buy the same person.
There will be exceptions for those with need for: 1. medical treatment of self or dependants 2. cost of higher education of self or dependant in India or abroad 3. marriage of kids or other dependants 4. other 'unavoidable emergency'
Dec 31, 2019 • 6 tweets • 8 min read
10 years of change in regulations, habits, products and practices in India's money world. @livemint marks the transformation.
1. Each year 2010-2019 has a new winner in returns. @sunitaam maps the annual returns of 10 financial products.
#BudgetwithMint|
Speech begins with a reference to 'new India' and the election result. Taking it as a validation of the performance of the government.
Validation of the two goals - national security and economic growth #Budget2019#BudgetwithMint|
Mazboot desh ke liye mazbooth nagrik
Empower the citizen to make the nation strong
Refers to Chanakya: Determined human effort leads to task completion #Budget2019
Jun 30, 2019 • 7 tweets • 4 min read
1. The insurance lobby is opening the 'parity' box. indianexpress.com/article/india/…
It wants 'parity' with NPS for that extra Rs50k that NPS gets over the Rs 1.5 lakh deduction. My suggestion to @nsitharaman and @FinMinIndia is this: We MUST open this box and see what else we can fix.
2. Let's open the 'parity' box for the thinly disguised bank deposits called endowment or traditional plans that take 7-8% return G Secs and turn them into 2-4% return, with a tiny crust of life insurance. The commissions of 30-40% (illegally much higher), need parity with FDs.
