Where is the promised windfall from demonetisation?

The Economic Survey 2016/17 was striking not only for its literary references, but also for its circumspect nature. One of major the drivers of this circumspection (which is not a trait one associates with the Narendra Modi government) was the yet-to-be-ascertained impact of demonetisation. The Economic Survey was cautious in saying that it would take …

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How is the government estimating India’s paper currency requirement?

As the government goes about printing new currency notes to replace the invalidated 500/1000 rupee notes, one wonders how this is being done. On one hand, the Reserve Bank of India (RBI) claims that there is "enough" currency in the system. On the other hand, government spokespersons claim that not all currency notes would be …

SMS Unhappy Service

A new customer grievance redressal mechanism to be introduced by State Bank of India through its Local Head Offices (LHOs)Under this system, LHO's have so-called “Happy Rooms” that deal with the customer grievances. Any customer who wants to lodge a complaint sends the message “Unhappy” to a specified number (8008202020 ). The Happy Room then calls …

Considering IRMA?

Its the season of MBA entrance exams in India once again. Hundreds of thousands of students vying for few thousand MBA seats in the belief that its going to secure their future. I graduated from the Institute of Rural Management, Anand (IRMA) in 2005. I loved my two years there and in this post, I am rehashing an …

Rating the Raters

All that Paul Krugman says in the NYT is this - It was a system that looked dignified and respectable on the surface. Yet it produced huge conflicts of interest. Issuers of debt — which increasingly meant Wall Street firms selling securities they created by slicing and dicing claims on things like subprime mortgages — …