Important: Top 5 Emerging Banking Trends in 2017 You Must Know

Source: livemint.com

The year 2016 was a turbulent and path-bearer one for the banks, stock markets and NBFCs (Non-Banking Financial Institutions). First the Brexit announcement in the middle of the year and then the dual co-incidence of Donald Trump’s victory followed by Prime Minister Narendra Modi’s demonetization scheme – have affected the banking industry to a certain extent for sure.

In November, once the Demonetisation decision of the old notes of higher denominations of 500 and 1000 INR was announced, people immediately went frenzy. The banks were instantly flooded with the currency notes of 500 and 1000 INR as both currency notes ceased to remain a legal tender anymore.

These two notes constituted around 85% of the nation’s currency in circulation, so after the demonetization decision, a nation-wide cash crunch situation ensued. It was further aggravated due to long queues at banks branches and ATMs followed by the limit on cash withdrawals from bank accounts.

Banks are overburdened with liquid cash now and they have to put them for investment purposes and productive uses. Some major banking trends are ready to take place in the coming days. However, the scene will actually become crystal clear only after the union budget 2017.

Upcoming Banking Trends 2017

  • Entry of Payment Banks: Many new banks are expected to launch in the coming year. Around 10 small finance banks and eight payment banks will be launched very soon in 2017. Airtel Payments bank has already started its operation in Rajasthan, and it will soon begin its nation-wide operation too. Currently, it offers 7.25% interest rate on saving accounts (against normal 4% offered by other banks).
  • More Loans and Advances: With the banks obtaining an enormous pool of surplus money in the form of deposits, there is no doubt that the New Year will see a sharp rise in loans and advances by the private and public sector banks. Though private sector banks are more liberal towards offering loans, but after demonetization, public sector banks will also start giving more loans to customers with fewer paper works, formalities and processing time.
  • Promotion of Electronic wallets: For transaction purposes, people will now get their electronic wallets linked to bank accounts for smoother transactions. Mobile apps and e-wallets like paytm and freecharge will get a massive boost in 2017. People will keep lesser cash in their pockets and may pay more via paytm and other apps.
  • The Merger of SBI and associates: Next year, India’s largest bank – the SBI (State Bank of India) and its five associates might merge for easier banking operation and more flexibility. This will empower the SBI and its associates to take greater risk and offer more loans to customers.
  • Changing Trends in Microfinance Industry: India’s Rs. 60,000 plus microfinance industry will get a complete makeover soon. These micro financial institutions mostly do their transactions on a cash basis but after the Modi’s demonetisaion announcement they will move towards cheque and bank transfer for transaction purposes. Advancement of loans and their repayments are also expected to go paperless. MFIs are shifting towards offering payment via mobile apps and bank transfer. This will keep the customers in the loop and prevent further bad debt and cheating.

Though people are expected to be largely benefitted by such expected banking trends in 2017, but only the time will reveal the actual benefits of these banking trends for customers in reality.

Demonetization in Venezuela Vs India

 

The Latin American country, Venezuela, has tried to ape India’s nation-wide note ban decision, but it had backfired badly following which President Nicolas Maduro was forced to postpone the entire decision until January 2 next month. The Venezuelan government took the decision last week on December 12, following which 100-bolivar note was ceased to be a legal tender.

But the sudden decision was bound to have violent repercussion in one of the world’s most violent countries. It led to massive protest across the streets of Caracas and other cities messed up further by violent protests and complete chaos. The decision was abruptly taken leaving the entire nation of around 32-million people in a state of complete shock, anger and despair. However, the government had now postponed the decision as of now to prevent further law and order mess in the country.

The Venezuelan President confirmed that 100-Bolivar bills will remain a legal tender as of now. However, the international borders with neighboring Columbia and Brazil would stay closed to prevent hoarding of Venezuelan cash by black money hoarders.

Maduro further alleged that these mafias are in touch with the US to destabilize the country. Currently, Venezuela has the world’s highest inflation rate of around 475% according to the IMF. The 100-bolivar demonetization was planned to curb the high prevailing level of inflation in the nation.

The people of Venezuela stood in long lines at banks for hours together to meet a Friday deadline to exchange their 100-Bolivar currency notes. Even when the deadline was extended, people still queued up at Banks out of fear psychosis and to get rid away from the demonetized currency at the earliest. According to government estimates, a lot of shops and shopping malls were looted and several people injured in violent clashes after the Venezuelan government’s sudden demonetization move.

Demonetization in India & Venezuela: A Comparison Study

Interestingly, in the context of India, common people stood by the government’s decision and demonstrated overwhelming support for Indian Prime Minister Narendra Modi.

  • In India, 500 & 1000 INR notes constitute around 86% of the currency in circulation, but in Venezuela 100-Bolivar note forms just 48 % of the total currency in circulation.
  • The Indian government gave around 50-day time limit to people to get their 500 & 1000 rupees note exchanged at the banks and post office with the amount of same values at different denominations, but Venezuela gave just 10 days for the people to deposit their demonetized 100-Bolivar notes at Banks. However, the entire decision was postponed later.
  • India demonetized notes of higher denomination of 500 & 1000 INR to tackle the problems of corruption and terror funding in Jammu and Kashmir by Pakistan, but Venezuela took the decision to curb the rising problems of international gangs and drug racketeers who hoard Venezuelan currency notes abroad to sell the same at subsidized rates in Columbia and neighboring areas.
  • The Venezuelan government was forced to postpone the decision since people went on a rampage across streets inciting violence, In India, Modi government didn’t backtrack albeit with considerable inconvenience to people. However, the level of violence in India is far lesser as compared to Venezuela after demonetization move.
  • In India, opposition parties and some of the people termed the move as a good decision coupled with bad execution, but in Venezuela, people are extremely furious with so little deadline given to them to get their demonetized notes exchanged at banks.

Cashless Economy: What about these 600 million people

 

600 million Indians don’t have bank accounts in India.

Even before demonetisation, Prime Minister Narendra Modi has laid emphasis on a digital Indian economy. This idea of digital economy has become even more obvious with shifting focus from the problems faced by the poor due to cash crunch to the future that can be through digital economy.

History of cashless economy

The first country to push cashless economy is Denmark along Norway and Sweden. Among others, Australia, UK, South Korea is also pushing for cashless society.

What’s wrong with cashless society?

Today, we live in a world that is highly unequal, especially when it comes to distribution of wealth. A cashless society will further jeopardize this situation for the poor and uneducated who have no access to such knowledge.

In such a scenario, the govt. openly shouting for a cashless society and PM Modi asking party workers to promote this idea seems unrealistic and ill fated when we know that the poor are going to be left behind.

Not only that, BJP has euphemistically ignored the impact of demonetisation on the poor. The deaths that have been caused, the decreasing payment of daily wage labors and loss of livelihoods for many farmers among others has been ignored completely by the ruling political parties.

How can the government that claims to be ‘pro-poor’ talk about a cashless economy when they know that only the literates, affluent and technically learned people will be the true beneficiaries of this idea. While the poor, illiterate, child labours, women labours, daily wage labours and many more will be excluded from its success.

Developed Scandinavian countries, Australia and UK among others can afford such a plan for their small number of population as compare to India and almost 100% literacy. But laying too much emphasis on this plan in India and at the same time failing to educate and improve literacy will definitely push further the increasing gap between the rich and the poor.

Such a plan is not pro poor, but pro rich and middle class, attractive to the bourgeois and mostly effective and feasible in cities. There are only 800 per million card swiping machines in the country. What’s even sadder is the ignorance of media to educate and debate the impact of this intention. The government is hiding behind big bang schemes to hide its malfunctioning and we people are foolishly standing and enjoying as the world changes in front of our eyes and the poor are thrown aside like a garbage bag.

 

Top Rumors on Demonetisation

Did you know that your 2000 rupee notes were capable of getting charged?

 

Don’t worry if you don’t because the day new 2000 rupee notes came into the market, fake news and rumors have spread like wild-fire. Some said that notes can be charged and some said that they can be tracked meters inside the ground.
Here’s a look at the rumors that shocked many and made many others laugh.
1. The 2000 rupee note has a nano chip
Sweta Singh of Aajtak confirms this news below by describing very nicely how your tacked 2000 rupee notes can be tracked. I wonder if she is foolish to have thought about it or its many of us who believed.
https://www.youtube.com/watch?v=E09Ilc7fHIE
Embed code –

2. That 2000 rupee notes can store solar energy
This was shown by a person who made a prank video lighting a buld with the help of the 2000 rupee note.
Here’s the video link – https://www.youtube.com/watch?v=hNsxrWEnkmQ
Embed code :

3. 2000 rupee note that sheds colour is fake
Unfortunately, the fact is just the opposite of this rumor. Real notes shed some colour and the government has accepted the problem.
4. The new notes are waterproof
See for yourself, what happened when this guy experimented with 2000 rupee note in water.
https://www.youtube.com/watch?v=lrhWlZ8OwVU
Embed code:

5. Mahatma Gandhi no more on the new note
Totally false. People saw the back of the note and thought it’s the front where Gandhi’s picture was absent, but the front is where Gandhi is.

 

6. When withdrawing money from the ATM, people will be marked with indelible ink
The truth is that the indelible ink was for people standing in the bank queues where they kept coming again and again to exchange money. So to solve this problem, indelible ink was to be used.

Indian Express Image
Here is what Twitter has to say on rumors about demonetisation
Embed code:

It is best to not trust what people in your neighborhood, office and family say about the new notes. You better get the facts checked yourself and not be fooled by fake news.

Here is what Twitter has to say on rumors about demonetisation

Embed code:

It  is best to not trust what people in your neighborhood, office and family say about the new notes. You better get the facts checked yourself and not be fooled by fake news.

Is 2000 INR New Note Usable in Today’s Crunched Economy

new-notee

 

Following the Indian government’s bold step to demonetize the old notes of 500 and 1000 INR, it was expected that the government and concerned authority must have some ready solution to tackle the cash chaos. But even after three weeks of the decision, the situation is still problematic as people still stand in queues and thronging from one ATM to another in search of liquid cash.

Some get succeeded to withdraw money from the machine while some don’t. Amidst the prevailing nationwide cash crunch, the RBI has introduced the new purple colored 2000 INR note on November 10 this year. But people find it extremely difficult to use it for transaction purposes.

Honestly speaking, unless the situation comes to normalcy it’s almost impossible to use the new note at one go. Obviously, the way people are running here and there to withdraw smaller denomination notes like the 100s, 50s, 10s from banks, certainly, there is no taker of Rs. 2000 INR notes now. Even if some of the people accept it they do so with a certain degree of restraint and reluctance.

The basic reason why people don’t want to take such notes of the big denomination is the wide gap in the value of notes of 500 and 2000. The common man might feel it is easier to transact four currency notes of new 500 notes than a single 2000 rupee note in the current chaotic economy. It will surely take time when people will start accepting such notes for their day-to-day transactions.

Why People Don’t Accepting the New 2000 INR Notes

  • The current situation doesn’t let a person withdraw more than Rs. 2000/- per day from ATMs per card. They find it more convenient to withdraw money in 100 rupees notes than a single 2000 rupees note.
  • Grocery and vegetable sellers carry their day to day business with very limited cash. It’s definitely impossible to imagine that a vegetable seller will exchange your Rs. 2000 note for a limited purchase worth Rs. 100 or 200.
  • Many people won’t accept the new 2000 note for the single reason that it will be highly difficult for them to get the same exchanged when they need.
  • The current psyche of the people is to hold as much cash as possible in hand. So they won’t take your Rs. 2000 note until the restriction limit on cash withdrawal is revoked.
  • To meet our daily small transactions such as medicine bills, vegetable and fruit expenses and conveyance by way of rikshaw or bus, what we really need are the smaller notes of 100s, 50s and 10s and not the 2000 INR note.
  • If more and more people get enlightened about the new digital payment systems such as e-wallets, paytm, Bank transfer, chque payment and NEFT, then sooner or later the quantum of cash transactions with denominations of 2000 and 500 will reduce to a large extent.

In order to instill faith of the people in transacting with the new 2000 rupees note, there is an urgent need for the government to enhance the supply of paper currency of smaller denominations such 500/100/50. Meanwhile, also people need to give away their habit of cash holding practice in smaller denominations or preference to hold cash for liquidity purposes.

However, people can still use the new 2000 notes where sizable expenditure is required such as the medical charges for surgery or to buy costly house appliances or IT products. Another way to use such notes is when you pay a big sum of money to your landlord as rent.

Is India’s GDP expected to fall Post Demonetization Scheme?

demos

 

Before proceeding with the discussion on the short term and long term ramification of Prime Minister Modi’s demonitisation move to ban 500 and 1000 INR currency notes, we need to understand that India is still a developing economy with most of the transactions take place through liquid cash.

Not all people in India are included in the banking system. Probably that’s the reason why “Jan Dhan Yojna” initiated by the central government saw a whooping participating of such a huge chunk of people.  The government can definitely take a credit for the same, but it also brings India’s stark reality of development to the fore. Even after 69 years of the nation’s independence, India couldn’t successfully ensure cent percent financial inclusion of all its citizens.

Now coming back to the aftereffect of demonetization, we need to realize that a country’s economy can’t run by whims and fancies. A rationale must be there before taking any serious decisions such as the demonetization. It followed with a nation-wide liquidity chaos and even after two weeks the crisis won’t seem to go away so easily.

If the current state of cash crunch continues for a few weeks more then there’s no doubt that the nation’s economy is set to plummet further in the following months. Indian economy has definitely come to a standstill at this point in time. Common people and SMEs (Small and Medium Enterprises) are definitely bearing the brunt.

The Decision Was Right but Implementation went wrong!

Nobody doubts the intent of the government but they are questioning the modus operandi of the banks to tackle the current problem. The government’s decision to demonetize 500 and 1000 INR notes was announced on November 8 to curb the rising black money and fake currency menace throughout the country.

Initially, it was believed that situation would become normal within a few days. But the problem still persists and people are clueless even now. Empty ATMs and long queues inside and outside the banks are a daily occurrence now. At least, ATM machines should have been recalibrated beforehand to prevent the current nation-wide cash chaos.

The current crisis will surely leave its negative impact on the overall economy of the nation. The GDP growth of 2017 and 2018 is set to be heavily hit due to the decision. However, in the long term everything will return to normalcy and boost the nation’s economy as well – it will take time.

The Effect of Cash Crunch on India’s GDP Growth

Some economists are of the view that around 2% of the nation’s economy will decelerate in FY 2018. At present, India’s projected GDP growth rate is around 7.3% but after this demonetization, it is expected to stay somewhat around 6 per cent.

According to a report, the ongoing cash crisis has affected around 40% of the nation’s daily transaction. Currently, 86% of the total money in circulation consists of 500 & 1000 INR currency notes. Obviously, when the entire 86% of the money in circulation would cease to remain legal tender – its impact was bound to be severe.

India is basically a cash-based economy with most transactions take place through cash. Especially, in day-to-day businesses like grocery, vegetable and medicines – retailers usually prefer cash than cheque or electronic mode of payment. Cash has continued to remain a preferred mode of a transaction because it’s prompt and conventional.

However, the demonetization move of the government has its own advantages too. Prime Minister Modi has simultaneously tried to solve three persistent problems of Indian economy i.e. a parallel economy backed up by black money, hard-to-recognise counterfeit currency notes of 500 & 1000 INR and also the terror financing. The decision will certainly prevent hoarding of unaccounted cash, tax evasion and investment of black money in realty sectors in future.

 

Business down by 40% – Transportation Afflicted by Demonetisation

currency-946932_960_720

 

Raja Angam (68) has been an auto driver since 1978. “After years of hard-hitting savings I brought an auto in 2010, but because of Ola and Uber I could hardly earn Rs. 500 and now that the government has demonetised Rs. 500 and Rs. 1000 notes, I have to drive for 16 hours to earn as low as Rs. 300,” he told dismally.

The decision of demonetisation in a speech by PM Narendra Modi on 8th November has afflicted Raja Angam and many alike. From auto rickshaws to pick-up vehicles, demonetization has comprehensively taken a toll on the transportation business.

Looking sporadically at a group of women standing at Institute of Mathematical Sciences (IMSc) gate, Angam said, “You see the women standing there? I asked them if they want an auto and they said that their cab is coming.”

Angam explains that people don’t have change to travel by auto and he too can’t help that. “So they are opting for cheaper options like share cabs and auto.” But he is unaware of the fact that cab drivers too are reeling for the same reason.

Shivaji, an Ola cab driver, was depressed by Modi’s decision. “Modi has no children to feed, so it’s easy for him to take such a decision, it is us who have to suffer.”

For Shivaji, business was good as he was conveniently making 2000 rupees per day, “But today, making Rs. 1000 has become a daunting task.” He pointed out, “It’s 3 pm already and I have made only Rs. 300 since 8 am. Young people who used my cab for movies and nightouts have no cash. Every time I stood near IIT, I was flooded with cab requests, but now it takes about an hour before I find a passenger.”

“The problem is that there is no money for rotation and moreover Tamil Nadu hasn’t yet received its new 500 rupee notes.”

He was cynical about the government’s claim of a crackdown on black money. “As long as we have rich politicians, black money is going nowhere,” said the 53 year old with a smirk.

His thoughts were reiterated by Purushotamman, a 41 year old Bolero Maxi truck driver. “Money is already running at the high level, but people like me are suffering even though corruption is happening. Look at what happened in Gujarat,” he said while talking about the government employees arrested by the Gujarat police for accepting Rs. 4 lakh bribe in Rs. 2000 notes.

Purushottamman is still being paid in old notes of Rs. 500 and Rs. 1000. “The contract engineer pays me in old notes and I have to go to the bank to deposit. I went to the bank on Wednesday and stood in line for 6 hours and then the bank said that there was no cash. I was helpless and had to revisit the next day. The day I go to the bank is the day I make no money,” he said showing his Rs. 1000 note.

“Petrol pumps are unwilling to put fuel below 500. So although my truck tank is full, I don’t have money to run the house,” said Purushottamman, a father to a school going girl and two college boys.

Even though many are sad about Modi’s demonetization step, not everyone is skeptical about its impact. “I am being paid in old notes and there is no problem with that because the petrol pumps are exchanging my money. The cash crunch problem is only for a few months and then it will be back to normal,” said Raja, looking at the travelers exiting the Chennai domestic airport, with a hope of getting a customer for his black and white taxi.

Even though Raja’s business has been hit hardly, he is optimistic over the government’s move. “I am hardly making Rs. 2000 now as compared to Rs. 4000. I go to the bank everyday in the morning and get back to work by 12. This takes up a lot of my time, but I feel that this is a good step.”

Demonetisation has diverted passengers from autos and taxis to buses and trains. C. Venugopal, who runs a saree shop in Sowcarpet, used to travel by cab everyday from Velachery, but now does so by MRTS. “Even after the ban, I commuted by cab because I thought it would all be normal in a few days, but it didn’t happen. Then I decided to MRTS to save money because I can’t go to the bank every day.”

Ravi, who gives ticket at the Indira Nagar ticket counter said that demonetisation hasn’t affected the MRTS. “MRTS tickets cost just Rs. 5 or Rs. 10. Currency notes of lower denomination are usually exchanged and therefore the crisis has not directly affected the transport system. However, not many have applied for a season ticket in the past one week. Let alone 500 and 1000, People who comes with 100 rupee notes are a problem for other passengers at the ticket counter,” he said.

On the other hand, MTC buses have seen a significant surge in the number of passengers. Raja Panti (28), a bus conductor pointed out, “Generally we have 600 passengers in an eight hour shift, but now we get more than 700 passengers. Even though today (Sunday) is a holiday, we have had 500 passengers already.” This was at 2.15 in the afternoon today.

Panti said that there is not much of an exchange problem in MTC. “We get only 100s, 50s, 20s and 10s from passengers and even if they are giving Rs. 2ooo notes, we exchange them.”

The story of Ola, an Indian cab service giant, is way different than the negative impact on the traditional transportation system. Especially because the company has used the cash hungry India economy to build up its digital payment solution.

A report carried by the Indian Express on November 9 said that Ola Money, part of taxi aggregator Ola, Wednesday reported over 1500 per cent increase in recharges across 102 cities of its operation in past 15 hours after government withdrew circulation denominations of Rs 500 and Rs 1,000 currency notes in a major move against black money and graft. The surge in recharges was seen between 8:30 PM till midnight.

Recently the company also launched a new ad campaign that was showcased on all platforms with the tagline, “Nahi rukega India, cashless chalega India.” The tagline translates to ‘India won’t stop, India will ride cashless.”

How far will the likes of Ola will suffocate the likes of Raja Angam, is a wait and watch story. Until the government comes out to protect their livelihoods, the future generation will unfortunately not know what it meant to shout ‘auto’.

How Can We Manipulate our Fundamentals

freedom-to-travel-596512_960_720

 

 

One of the things that differentiates human beings from other species is our extraordinary capacity to learn. We are always picking up new things and correcting earlier errors.

But there is one area where it seems so hard to acquire new knowledge and change, emotional life.

Its when we are very small children, between our first day and later in adolescence , that our emotional hard drives are encoded. Its in this period we learn whether we can trust, whether we like ourselves, whether we can be open, where blame belongs, what to do when world hurts us, how much we can tell others what distresses us, what degree of directness can be tolerated and how much excitement can be witnessed and forgiven that is, how big of a mistake we can commit to be forgiven.

Unfortunately for human kind, humungous amount can go wrong in childhood. Just like all the improvements in early infant care that’s taken place in the last century. We are not waiting for any of this to happen, but it’s very easy to pick up unhealthy signs or messages from the surrounding. For e.g. If a small child has been beaten extensively by his father’s belt, the belt remains in his or her mind throughout life as an association of pain and emotional turmoil. This happens way before we really understand what’s going on. Which is why, we may acquire lack of trust and excessive fear of humiliation, a deep shame about our bodies, indirect patterns of communicating, our ability to either be close to someone or measure a distance from them.

We might assume that these failures can be corrected, just like an early errors of quadratic equations. But we later realize, especially when we get older that how complicatedly these failures are encoded in our hard drives.

This can feel absurd and humiliating. There is an understandably impatient view that one should have got over the quagmire sooner, but not so unfortunately. Human nature or an individual nature takes a shape depending on emotional and mental experience of the person. Every act and every thought goes through tremendous scrutiny over time, sometimes consciously and sometimes unconsciously. This makes it hard to change our day to day lives and make it as we would want it.

Even though it’s not that easy, it’s not impossible. The first important thing is to take notice of the complication. You would come to know the depth of that only when you accept the problem in true form, without any prejudices.

What follows is the practice of remaining conscious of the failure and trying to amend it slowly through routine. This routine can be anything depending on your daily life. You can choose to look at the belt and try to manipulate the memory. This is the most simple example which may or may not be a failure, but this is how one needs to start. One by by, through our capacity to learn and correct, we wil be able to nurture new set of ideals that would have got rid of our failures forever, not because of ignorance, but because we chose to deal with it and get over it.

Demonetisation – Enemy to a Daily Wage Laborer

scaffolding-1617969_960_720

 

PM Narendra Modi has strongly appreciated his government’s promise to tackle ‘black money’ by through his demonetization drive. What he and his party members have failed to notice is the plight of a daily wage laborer.
A daily wage laborer is a person who lives hand to mouth through his daily earnings. India is the capital of daily wage laborers and Modi’s demonetization drive has pushed their life further back into a mess.
Imagine daily wager spending his entire day standing in line of a bank, if and only if he or she has a bank account. In India, even after PM Jan Dhan Yojana, there are innumerable labors, especially in rural India who do not own a bank account. In such a case, how does the government propose these people survive.
The government had promised that from November 11, ATMs would be functional and citizens can withdraw upto Rs. 2000 per card until November 18. After which people can withdraw upto Rs. 4000 per card. But has this plan worked? Not at all.
There is acute shortage of changed currency, even in the major cities. The situation in rural India is even worse. Two thousand rupee notes haven’t been made available in rural areas.
Daily wagers working in small factories and construction companies are going through hell. These laborers, who are either migrants or come from rural areas have complained that they have received money in currency of Rs. 500 and Rs. 1000. A recent report by Scroll.in explaining how laborers in Bihar have stopped going to work.
The contractors of these labors are still paying them in notes of 500 and 1000. At the same time, the inefficient circulation of new currency has made it hard for people to exchange money through banks. Even biggest public sector banks like SBI have failed to receive new notes.
What’s worse is the need to have id cards to exchange money and bank passbooks to deposit and withdraw money. Illiterate workers who do not have their bank passbooks or id cards cannot exchange their money through banks. PM Modi said that corrupt people who have hidden black money are unable to sleep while honest individuals don’t need to worry. Interestingly, the situation is just the opposite. The tech savvy class of the Indian society has shown tremendous patience with the demonetization drive, thanks to cashless payments in shopping malls and retail stores, but what about the poor?
In many parts of the Saurashtra region, farm laborers haven’t received payment and farmers are unable to sell their cotton and groundnuts. Although the central government promised the poor that government ration shops will be open and accepting 500 and 1000 rupee notes, the shops have remained closed in some parts of rural Gujarat.
Places with no government medical shops are making things worse for the people from whom private chemists are not accepting old notes.
For all the above reasons, government must take cognizance of the problems faced by the poor daily wage labors who are unfamiliar with the banking system. Thus, the government should allocate a certain percentage of cash for them only. Moreover, public sector banks should be asked to exchange their notes, even if they do not own an id card.

Is War and Hatred an Intelligent Solution to India Pakistan Crisis?

war-1446979_960_720

 

The creators of Indian Constitution and the founding fathers of the Independent India knew that partition was not going to solve the problems of conflict that arose due to Hindu Muslim divide. Yet, they thought that it is the best step towards peace in the country. People will forever blame Gandhi for his decision of allowing this to happen, but can we really look beyond what has happened and see if war is the only intelligent solution to conflict between India and Pakistan and if not, then what else can bring peace to this ever growing problem of Kashmir and terrorism.

Indian Prime Minister Narendra during his ‘Mann Ki Baat’ on September 25th, retaliated to Pakistan’s rhetoric of war for 1000 years with India by saying, “I accept this challenge. I want to tell you that India wants to fight with Pakistan. If you have the courage then why not fight to end poverty, unemployment, illiteracy. Let us see which country wins, India or Pakistan.” To be frank, people in the country have much stronger sentiment than these. There are many who feel India should go to war with Pakistan and take revenge for the loss our nation has borne. To those who actually feel so, might not really understand what a family goes through when a son, father, brother or any other member is fighting at the forefront of the war.
What happened in Uri (Jammu and Kashmir) has shocked the entire nation. Such acts should not be tolerated by any country, but who is to be blamed is a question that we all must ask. Is the entire country of Pakistan to be blamed? Are there people equally responsible for what’s happening across the border that they too should be hated equally as their army and politicians?
Banning Artists from Pakistan
Recently, Times Now news channel, under its editor Arnab Goswami was discussing the nonsensical remarks of MNS (Maharashtra Navanirman Sena) on Pakistani artists. MNS politicians asked for a ban on Bollywood artists from Pakistan and said that they would throw the ones who will not leave. Is this really logical to think of the people from across the border like this? Are we so dumb that we would actually believe in these words and start hating the people whose problems are similar to ours if not like ours.
In India, there educational institutions where students from Pakistan, Bangladesh and Afghanistan come to study and only they know how much it means to them to get a good education to live a prosperous life. These are the students who will go on to share their experiences from India and tell their own people how different we are as compared to how we are portrayed. So its’ not about taking a stand for big Bollywood stars, but for the ones who are not so powerful and need immunity from political issues. It’s the only way forward when most of the so called ‘progressive world’ is under the impact of direct or indirect war/ terrorism.
People of India and Pakistan should be left alone. They should not be forced to take part in this business of enmity. They already have enough problems to deal with, being an imaginary enemy can wait for sometime.