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On Slack: All Is Well, Black Or White, China Forex Reserves, Currency Crackdown, Indian Exceptionalism, Instant Redemption, Pureplay Brokerages and more….



The Slack group at Capital Mind Premium has been extremely active and if you haven’t been there (Premium subscribers only), pop us a note or login here using your premium credentials.

A brief summary of some of the interesting things discussed there in the last few days:

#general: Demonetisation: Government may take ordinance route to cancel unreturned currency

The government may issue an ordinance to provide clear legal support for extinguishing the demonetised Rs 500 and Rs 1,000 notes that are not returned by December 30. Economic Times

#general: Expect all demonetised money to come back to system: Revenue Secretary Hasmukh Adhia

Indian Express

#bonds: Sebi working on norms for instant redemption of liquid mutual funds

Instant redemption of liquid mutual funds into bank accounts will boost inflows and attract retail customers to such funds. Livemint

#general: Pureplay brokerages are dying a slow death on Dalal Street

Dalal Street is witnessing a slow death of large pure-play broking firms. In the last few years, many of them, such as IIFL, Motilal Oswal Financial Services and Edelweiss have transformed themselves into non-banking financial services companies. Economic Times

#macronomics: Demonetisation seals RBI rate cut deal, but that will not reboot a battered economy

Most of the originally stated results of the demonetisation exercise – killing black money, corruption and terror, are disputed now by experts. It is too early to assess these outcomes.  First Post

#general: India in talks to build Hyperloop; two Indian companies involved in the project

For the past two weeks, Transport Minister Nitin Gadkari has had a piece of paper on his desk, waiting for a signature that could lead to people being able to travel from Chennai to Bengaluru in 30 minutes — for a fraction of the cost of an airplane ticket. Economic Times

#general: The Curious Case Of Manpasand Beverages


#general: Demonetisation: Understanding the event, impact, narrative and meaning

A cost benefit analysis suggests that the benefits were relatively small when compared with the costs. Business Standard

#fx: China forex reserves fall at fastest rate since January

China’s foreign exchange reserves fell by nearly $70bn last month as the country’s central bank burned through more of its war chest in the fight to defend the renminbi from greater depreciation on the back of accelerating capital outflows. Financial Times

#general-from the past: Frooti grows up with a new look

Aiming to target the youth and emerge out of the shadow of its ‘kids’ drink’ legacy, it has changed it looks and taste. Business Standard

#general: No service charge on debit card & smartphone transactions till Dec 31, says government

To encourage widespread usage of digital payments post demonetisation, the government today said no transaction charges will be levied on debit cards till December 31. Economic Times

#general: Crisil assigns AAA rating to Sterlite Power Grid Venture’s InvIT

SEBI gave the approval Last month to Sterlite to launch infrastructure investment trust (InvIT) IndiGrid to raise money. Economic Times

#macronomics: RBI’s message: All is well, for now

RBI’s decision to hold rates is surprisingly optimistic, but also shows it’s unclear about the demonetisation impact on the economy. Livemint

#general: Rents expected to increase in the next 12 months – ArthaYantra Buy vs. Rent Report

ArthaYantra Corporation released the 5th edition of its annual Buy vs Report (ABRS). This report which used to cover 8 top cities has added 4 cities this year, increasing the coverage to a total of 12 cities in India. Realty Fact

#general: No Service Tax On Debit Or Credit Card Transactions Upto Rs. 2,000

Starting today, you will not be charged any service tax when you use your credit or debit card for up to Rs. 2,000. Currently, you pay 15% as the tax on these transactions. NDTV

#general: Indian Exceptionalism: The Case For Abolishing Income Tax For Individuals

The soaring levels of demonetised notes flooding the banking system – just shy of Rs 12 lakh crore against a potential inflow of Rs 15.44 lakh crore – tells us an essential truth. Indians find a way to work around the law any which way they can. Swaraj Magazine

#macronomics: Goldman Sachs Slashes Indian Growth Estimates Amid Currency Crackdown

The impact of India’s high-value cash ban is now showing up in the data. Bloomberg

#general: Sebi mulls higher net worth for registrars

Fallout of Sharepro event; considers minimum net worth of Rs 2 crore. Business Standard

#general: Time Person of the year 2016 – Donald Trump


#general: How Anyone Can Invest Like Warren Buffett

What do George Soros, Warren Buffett and a computer have in common? Turns out, a lot. Bloomberg

#general: Post-demonetisation: Punjab farmers weather storm

Credit, payment in old notes from grain commission agents ensures normal rabi planting operations. Indian Express

#stocks: Polaris down 5%; Promoter Virtusa’ OFS for upto 3.72% opens

Global IT services major – Virtusa Corporation which had a majority interest in Polaris, plans to sell 18.86 lakh shares or 1.86 percent in the company via an offer for sale (OFS) at a 40-percent discount to the acquisition price within 1 year. Moneycontrol

#general: Google Makes So Much Money, It Never Had to Worry About Financial Discipline—Until Now

Alphabet’s CFO Ruth Porat wants to bring focus to Mountain View. Can the moonshot factory adapt? Bloomberg

#macronomics: India Outflow: Deutsche Bank Says You Ain’t Seen Nothing Yet

If you thought November was ugly, brace yourself for even more outflows from Indian assets in December, according to Deutsche Bank AG. Bloomberg

#general: Innovative Methods to convert Black in to white unearthed by IT deprt.

Income tax investigations at Mumbai led to the revelation of a syndicate of ground level operators active in converting banned currency notes into legal tenders for a commission. Simple Tax India

#general: Demonetisation blues: No work or cash, over 10,000 daily wagers leave Gurgaon

The demonetisation move by the Centre is turning out to be a nightmare for over 1 lakh construction workers in the city. Labour department sources said that 10,000-12,000 daily wage workers have already left Gurgaon. Hindustan Times

#general: Who are the FT’s women of 2016?

From Theresa May to Simone Biles, we interview and profile the women of the year. Financial Times


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