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Your hard earned money is safe: Govt assures

Government today cautioned people against depositing the money of unknown people in their own accounts or falling prey to cheats, thugs and rumour mongers. Assuring people that their hard earned money is safe, the finance ministry on Friday said there is no need to panic and depositing junked Rs 500/1,000 notesof up to Rs 2.50 lakh in bank accounts will not be reported to the tax department. "The public was happy with the government’s move which will help crack down on black money used for terrorism and bribery," Finance Minister Arun Jaitley had said. "Deposits up to Rs 2.50 lakh will not be reported to the income tax department. There will be no harassment or investigation. All honest citizen need not worry. Farmers' income is tax free and can be easily deposited in bank," the ministry said. to ensure customer convenience, banks have been asked to provide all cash withdrawal transactions at their ATMs free of cost till 30 December.

How currency ban was kept a secret

When Prime Minister Narendra Modi began his first ever televised address to the nation at 8 pm on Tuesday, there was a great deal of curiosity among the people. Just when he announced the ban on the Rs.500 and Rs.1000 currency notes, India was taken aback by surprise. A whole lot of secrecy was maintained to not let the news out before the PM's address to the nation. The ministers who attended the Cabinet meeting on Tuesday evening had to stay back till PM Narendra Modi's televised address to the nation was over, in order to ensure that there was no premature leak, even by a few minutes, of the plan to scrap Rs 500 and Rs 1,000 notes. Just a handful of people were not surprised by this move. As part of a group of advisors, they had spent six months carefully planning the biggest attempt ever in India to check black money. Only Finance Minister Arun Jaitley, the Reserve Bank of India Governor and a few close officials were in the know until the very last minute, according to newspaper reports. It's worth mentioning that only a few weeks ago, the cabinet secretariat had issued a circular, to personal staff of all ministers, advising ministersnot to carry mobile phones to the Cabinet meeting . "So, there was no scope of the information going out," said a source.

SC Rules Against Punjab;Cong MLAs quit

Minutes after the Supreme Court struck down the state's unilateral abrogation of the water-sharing agreement with Haryana and other neighbouring states, Congress leader Amarinder Singh quit the Lok Sabha and other party lawmakers resigned from the Punjab Assembly. Declaring the act unconstitutional, the top court said Punjab cannot unilaterally wriggle out of an agreement involving other states. In his first reaction after quitting Lok Sabha, Congress’s Punjab face, Amarinder Singh, blamed Chief Minister Parkash Singh Badal for entering into the water-sharing agreement in the first place. “Haryana will never get the water,” he told. The court held that Punjab water termination law of 2004 was not in sync with the 2003 SC judgment. It directed Punjab to construct the remaining part of SYL canal as per the 2003 judgment of the apex court to supply Harayana its share of water.

Sushma Swaraj helps a Widowed Mother

External Affairs Minister Sushma Swaraj once again played the guardian angel to an Indian woman in the US. An Indian woman in the US who gave birth to a baby girl few days ago weeks after her husband died of a heart attack was today assured by External Affairs Minister Sushma Swaraj of all possible help. Swaraj who was informed about Deepika Pandey and her newborn baby on Twitter immediately responded saying, "Deepika - We are with you in this hour of tragedy. I have asked @IndianEmbassyUS to help you". The woman's husband Hariom Pandey, who was a software engineer, had died of a heart attack on October 19 in Boston and days later his friends had taken her to New Jersey to ensure her better care as they stay there. Deepika also has a four-year-old son. Deepika's family wants her and the two children to return to India at the earliest and therefore requested the government to ensure early grant of passport to the newborn by the US authorities who by birth is an American citizen.

Modi replies to Superstars wishes!

Majority of India is going all out in congratulating Prime Minister Narendra Modi on the bold step he has taken in curbing the menace of black money in the nation. A whole lot of bollywood and tollywood stars took to social media sites to congratulate the PM. The prominent of them all was the tweet by Superstar Rajinikanth. He tweeted saying, "Hats off @narendramodi ji. New india is born #JaiHind”. Prime Minister Narendra Modi has a while ago replied to Rajinikanth’s tweet saying, “Thank you. All of us have to work shoulder to shoulder and create a prosperous, inclusive and corruption free India.” Kamal Haasan also had praises for our Prime Minister. He tweeted, “Salute Mr. Modi. This move has to be celebrated across political party lines. Most importantly by earnest tax payers.” To which Modi replied saying, “This step was taken in the interest of our honest citizens who deserve a better India.”

Mistry sacked; TCS gets new chairman

Tata Consultancy Services (TCS) told the Bombay Stock Exchange that it had received a notice from its parent Tata Sons nominating Ishaat Hussain as Chairman of the company, immediately replacing Cyrus Mistry. "The Company has received a letter dated November 09, 2016 from Tata Sons Limited nominating Mr. Ishaat Hussain as the Chairman of the Board of Directors of the Company in place of Mr. Cyrus P. Mistry with immediate effect. In view of this, Mr. Mistry has ceased to be the Chairman of the Board of Directors of the Company and Mr. Hussain is the new Chairman of the Company. The Company has been further informed that Mr. Hussain shall hold office as Chairman of the Company until a new Chairman is appointed in his place," said the statement. Tata Sons is the largest shareholder in Tata Consultancy Services. Tata Sons holds 73.33 per cent stake in TCS. Tata Sons has also issued a notice calling for an extraordinary general body meeting to remove Mistry as a director of the company. The EGM will have to be held in 45 days.

Thousands protest against Trump in NYC

Thousands of people marched in the streets of New York City Wednesday night to protest President-elect Donald Trump. In cities from Boston to Los Angeles, the demonstrators chanted anti-Donald Trump slogans, with many yelling "not my president, not today", reports said. In Chicago, roughly 1,000 people attempted to gather outside the Trump International Hotel and Tower downtown while chanting phrases like "No Trump! No KKK! No racist USA". As many as 5,000 people were at a protest in New York, the police estimated. Among the issues were immigration and Obamacare. Some of the protesters cursed out key battleground states that Trump had won to secure victory. They then began marching more than 40 blocks uptown to picket outside Trump Tower in midtown. Protesters condemned Trump's campaign pledge to build a wall along the border with Mexico to keep out undocumented immigrants and other policies perceived as affecting people of colour. In his victory speech, however, Trump said he would be president for all Americans, saying: "It is time for us to come together as one united people.

Burnt currency notes found in UP

Charred remains of burnt notes of Rs 500 and Rs 1,000 currency denominations were recovered from a place in Bareilly on Wednesday, police said. This comes just a day after Prime Minister Narendra Modi made the "shocking" announcement of demonetising ₹500 and ₹1,000 notes in order to curb corruption in the country. Police sources said the notes had been initially cut, damaged and then burnt. "We are examining the burnt notes to check for their authenticity," Senior Superintendent of Bareilly, Joginder Singh reportedly said. According to sources, the burnt currency notes were reportedly brought in sacks and then dumped by workers of a company on Parsa Kheda Road in C.B. Ganj area in the city. The police has since taken over the remains of the currency notes and the Reserve Bank of India (RBI) officials have been informed of the incident.

Rs.50 & Rs.1000 notes with new designs soon

The Rs.1,000 currency notes will be re-introduced in a few months with enhanced security features and different colour, Shaktikanta Das, secretary, department of economy affairs, said on Thursday. Finance minister Arun Jaitley today assured people that demonetising high-denomination currency is beneficial to all in the long run, despite short-term problems. These announcements were made while huge crowds gathered to collect the new Rs 500 and Rs 2,000 currency notes as banks reopened on Thursday after remaining closed for two consecutive days. Minister Jaitley, Das and chief economic adviser Arvind Subramanian were all addressing an Economic Editors' conference in New Delhi today, where most, if not all, questions were about the scrapping of Rs 500 and Rs 1,000 notes. About the sudden nature of the announcement to scrap these notes - a decision made to halt terror being funded by Pakistan, and to stem the rising tide of black money - Das said that the process had been under way for the last few months. "Only 2-3 people in the RBI were involved in the designing of notes," said Das.

New Rs.500 & Rs.2000 Notes Hard To Fake

Prime Minister Narendra Modi in a surprise address to the nation on Tuesday night said currency of Rs. 500 and Rs.1,000 will cease to be legal tender from midnight on Tuesday. He said the decision was taken to root out the menace of black money and corruption. New bills for Rs. 500 and Rs. 2,000 are being printed and will be sent to banks. They will be in limited supply initially, necessitating a cap on how many are available to an individual. The new 2,000 rupee note, said the Reserve Bank or RBI in a statement, will include several features like a see-through register with the denominational numeral 2,000 which can be seen when the note is held up against light. For the visually-impaired, there will a raised print of Mahatma Gandhi's portrait, the Ashoka Pillar emblem, bleed lines and identity marks. The latest move is estimated to more than double annual growth at online payment companies. The note will also have a colour-shifting windowed security thread with the inscription 'भारत', RBI and 2,000. The colour of the thread will change from green to blue when the note is tilted.

5 Indo Americans set to be elected to US Congress

Indian-American women put up a good show in the 2016 elections, with Kamala Harris, 51, a two-term attorney general from California, creating history by winning the US Senate seat from the state. Pramila Jayapal, 51, won the Congressional seat from Seattle to enter the House of Representatives, the first Indian-American woman to accomplish this feat. Ro Khanna and Ami Bera were leading in the race for the House of Representatives from their districts in California. With 56 per cent of the votes counted in California's Silicon Valley, Democratic Congressman Bera was leading with 54 per cent votes at 47,427, ahead of his Republican party rival Scott Jones who got 46 per cent votes. Jayapal would be joined in the House of Representatives by Raja Krishnamoorthi, who made it to the highest citadel of democracy in their second attempt.

Farmers & Housewives need not worry: FM

A day after the government announced the withdrawal of Rs. 500 and Rs. 1,000 banknotes in the country’s biggest crack down against black money, corruption and counterfeit currency, Finance Minister Arun Jaitley said, housewives, farmers with genuine savings need not worry. He assured people that usage of smaller currency denomination won't be affected. He also suggested that the decision had the potential to change the mood of the nation. "This will have an effect on the economy in the long term and this bold step will changes the mood of the nation", he said. He encouraged people to use cheques instead of cash for transactions whenever possible. The Finance Minister further said that housewives and farmers with genuine savings need not worry about depositing cash in their bank accounts. “The small amounts that people will deposit like Rs. 25,000, 30,000 or 50,000 lying in house for expenses, whatever money could be there for meeting normal family expenses they need not worry. They can go to banks,” he said. The Finance Minister said for first one or two weeks replacements may be less but after 2-3 weeks as more currency notes come in market then normal replacement will be available.

Rs.1000 ban:Why you shouldn't panic

ATMs ran out of Rs 100 notes within hours of Prime Minister Modi's address to the nation about the ban on Rs.500 & Rs.1000 notes. This in turn led to full-blown alarm among the general public. But most of this panic is unwarranted. While there may be some discomfort - there is nothing to worry for the ordinary pubic. Anyone in possession of a large stash of black money should be worried. In fact, an impact is already being felt in sectors like real estate, where cash transactions make up a significant percentage. There is a wide window available for you to exchange your older notes at the bank. Also, till November 11 midnight, there are a lot places where you can use your stock of Rs 500 and Rs 1000 notes. The government also announced that new Rs 500 and Rs 2000 currency notes will go into circulation starting November 10. So there is nothing for the general public to worry about. All ATMs and other cash machines will remain shut on November 9, 2016 to facilitate recalibration and some may also be shut on November 10.

Bollywood reacts to PM’s war on black money

Bollywood went gaga over the surgical strike by Prime Minister Narendra Modi on black money in India. The big names of the film world were all praises for the PM's move to ban Rs.500 & Rs.1000 notes and also curb the black money menace in the nation. Filmmaker Karan Johar described the decision as a "masterstroke move". He tweeted, "This is truly a masterstroke move!!! @narendramodi hits it out of the stadium!!!". Big B Amitabh Bachchan wrote, "The new 2000 Rs note is PINK in colour...the PINK effect!!!". "Today the Samsung Note 7 is the third worst note to have in India. #Modi #CleanTheRupee" tweeted Siddharth. "PM Modi ji. Ball out of the stadium. Wohaaaaaa!!!! De monetisation is the right answer. Congratulations!" said Rishi Kapoor, Ranbir Kapoor's father. "Bold move by PM @narendramodi ji as the #1000rs #500rsnotes become invalid/redundant. #NewIndia", tweeted Ritesh Deshmukh. "This is PHENOMENAL @PMOIndia @narendramodi!!! #RESPECT #IndiaFightsCorruption" tweeted beauty queen Dia Mirza.

Donald Trump Wins; Celeb reactions to it!

Donald Trump is on his way to become the President of America. And this has sent the celebrity world into a tizzy. With some rooting for him and the other pitching against him, Trump eventually emerged victorious. Bollywood actress Huma Qureshi said, "Dear America, Trump is what happens to you when you watch too much Reality TV". While Twinkle Khanna, Akshay Kumar's wife tweeted saying, "Donald Duck waddling to the White House doesn't seem to be just a surreal nightmare. Misogyny plays its trump card and wins". Beauty queen Dia Mirza tweeted saying, "A man that refuses to believe that #ClimateChangeIsReal may just lead the world! #USElection2016". Tollywood heartthrob Siddharth also didn't have a pleasant opinion on the win either, he tweeted, "Hey America, you're FIRED! #immigrants #TrumpAmerica#Doomsday #HateWins #Shame #Misogyny #LGBT#AmericaSoWhite". "All those people who thought Trump was nonsensical are now proved to be nonsensical Ha ha" tweeted Ram Gopal Varma.

Trump new US President; PM congratulates him

Donald Trump has been elected as America's 45th president on Tuesday in an astonishing victory. His triumph over Hillary Clinton will end eight years of Democratic dominance of the White House and threatens to undo major achievements of President Barack Obama. Having being accused of racism throughout his campaign the post-win Trump even talked of his campaign "being a movement comprising people of all races and backgrounds". He needed to win nearly all of the competitive battleground states, and he did just that, claiming Florida, Ohio, North Carolina and others. Prime Minister Narendra Modi has congratulated Donald Trump on his landslide victory. "Congratulations @realDonaldTrump on being elected as the 45th US President". "We appreciate the friendship you have articulated towards India during your campaign, @realDonaldTrump." he tweeted. Senate control means Trump will have great leeway in appointing Supreme Court justices, which could mean a major change to the right that would last for decades.

Demonetisation effect:Sensex crashes by 1600 pts

The government decision to withdraw Rs 1,000 and Rs 500 notes and increasing probability of Donald Trump winning the US Presidential elections has made the sensex take a huge plunge. The Sensex crashed 1,600 points while Nifty plunged 476 points today. Lot of negative triggers could keep the market in check for the next few weeks or even a couple of months say the experts. Real estate stocks have taken a pounding in early trade as the sector is expected to feel the heat of the government's move to phase out the old Rs 500 and Rs 1000 notes. The general view is that a lot of purchases may get deferred in the short term. ICICI Bank, BHEL, Adani Ports, Tata Motors and Maruti Suzuki are some of the losers. The real estate index was down 12% as market men fear that the government decision to curb black money will hit these companies the most, leading to a crash in realty prices. The US dollar sank and stock markets slammed into reverse in wild trade on Wednesday as investors faced the real possibility of a shock win by Republican Donald Trump that could upend the global political order. Oil prices also skidded, with benchmark U.S. crude futures lost down $1.05 to $43.93 a barrel in electronic trading on the New York Mercantile Exchange.

Trump races ahead leaving Clinton behind

As the world is keenly following the US presidential election 2016 and is waiting for the verdict with bated breath, projections now show the Republican candidate Donald Trump taking the lead again over Hillary Clinton. Both candidates scored early victories in states where they were expected to win. Trump captured conservative states in the South and Midwest, while Clinton swept several states on the East Coast and Illinois in the Midwest. Reaction to the prospect of a Trump presidency rippled across the globe, with financial markets abroad falling as American television networks raised the prospect that Mrs. Clinton might lose. Asian markets were trading sharply lower, down around two percentage points, and in the United States, Dow Jones futures were down as much as 600 points in after-hours trading. According to projection reports coming in Trump now has 244 electoral votes while his Democratic opponent Hillary Clinton has 209.

ATMs to work from Nov 11

Prime Minister Narendra Modi’s 40-minute speech on Tuesday evening scrapping the Rs 500 and Rs 1000 notes effective midnight of November 8 sent out a loud and clear message in the war on black money and corruption. "The notes of Rs 2000 and Rs 500 will be circulated soon. The RBI has decided to limit the notes with higher value," Modi had said. However, ATMs in the country were seen busier than usual on the night of November 8. People, who didn’t appear to have complete information on the withdrawal of the notes, thronged the ATMs with two purposes — deposit Rs 500 and Rs 1,000 notes and withdraw Rs 400 at a time so that they have enough money for the next two days when banks remain closed. With banks and ATMs remaining shut on Wednesday and Thursday (November 9 and 10), a large number of people were trying to withdraw Rs 100 currency notes by drawing Rs 400 at a time to avoid ATMs which are programmed to dish out Rs 500 notes for higher withdrawals. Within hours, some ATMs were emptied of Rs 100 notes. All ATMs may start operation from Nov 11 after recalibration, and will dispense Rs 50 notes along with Rs 100 notes said RBI.

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