~ Reflections ~

Modi's current move of demonetization seems to be the current buzz word wherever we go. India’s PM, Narendra Modi, surprised and even shocked many when he announced that Rs 500 and 1,000 notes would no longer be legal currency. This is some 86% of the entire cash money supply of the country. Without getting into the political aspects (though I am sure that is a significant piece of the move), there seem to be some clear positives in this. Finally, the old cash being hoarded by the infinite households of India have finally seen the light of the day, and in some cases a bank account as well. The sudden purging of currency will bring the terrorist activities to a screeching halt. Suddenly banks are seeing a huge inflow of cash. Banks have cumulatively received around 5.5 Lakh Crore Rupees within one week. However, there appears to be a lot of collateral damage. People are having a tough time accessing their own hard earned money which is lying in bank accounts. Nee...

Was recently reading an article in the Guardian by William Dalrymple, on how East India Company efficiently moved from being a trading company in Bengal, to one with the largest armies of its times... how a Corporate managed to establish governance.... It is interesting to note that this is a problem being faced by all times. Like he puts it very aptly... "Corporate influence, with its fatal mix of power, money and unaccountability, is particularly potent and dangerous in frail states where corporations are insufficiently or ineffectually regulated, and where the purchasing power of a large company can outbid or overwhelm an underfunded government." As we move towards privatization in all sectors, not because corporates can contribute more, but because the public systems and departments have become very inefficient, it is interesting to note that we are increasing the control of private firms in the working of basic facilities. Though there are many governing bodies, ...