india demonetization Tag

Posted On May 22, 2017By HoudiniIn Articles

Think Twice About Going Cashless

No one’s talking about the real motivations behind demonetization. Even now, after the chaos caused by India’s decision last November to eliminate nearly 90 percent of its banknotes, few people would argue with the policy’s underlying assumption: Going cashless is, if handled well, a good thing. Yet the fact is, most arguments in favor of demonetization don’t stand up to scrutiny. And those that do should raise other concerns. Proponents of moving beyond paper money cite several rationales. They say it’ll make life harder for tax cheats, terrorists and other criminals, and speedRead More
Five months have passed since the demonetisation drive, but the people of India continue to face a shortage of cash in banks and ATMs. The Times of India reports that more than 90% of the ATMs in the northern region do not have cash, and in the southern states as many as 65% of ATMs have run dry.  Speaking to TOI, State Bank of India (SBI) deputy general manager Ajoy Kumar Pandit said the customers are losing confidence in them due to the crisis. “Nearly 70 per cent of our 648 ATMs in the threeRead More

Posted On March 31, 2017By Ahmed Razman Abdul LatiffIn Featured Writers

The Unnatural Nature of Fiat Money

Imagine if you are doing this experiment; walk along the mall’s corridor while holding a packet of rice and approach the first shop assistant you see. Take out a piece of RM10 from your wallet and ask him or her which one is money; the rice or the RM10 note? Most of the time there is a good chance that they will choose the note. Now, imagine if you are repeating this experiment with someone who lives in the rural area but in another country. This time the outcome mightRead More