Renuka Jain

Prime Minister Narendra Modi hasn't wasted much time to make it a priority to recover billions of dollars stashed overseas to avoid taxes. Indians had moved $644 billion to tax havens as of 2011, according to data from Global Financial Integrity.

With a view to increasing banking penetration and promoting financial inclusion and with the main objective of covering all households with at least one bank account per household across the country, Pradhan Mantri Jan Dhan Yojna  was launched on August 28, 2014. Such accounts have a deposit limit of Rs 50,000. World Bank's Jim Yong Kim believed  India's Pradhan Mantri Jan-Dhan Yojana is a model worth emulating across emerging economies. In a panel discussion on financial inclusion and the challenges of de-risking it Kim praised the government's flagship program in October 2016

Action of  Prime Minister Narendra Modi stunned the country on Nov. 8 by announcing that 500-rupee  and 1,000-rupee notes, which account for more than 85 percent of the money supply, would cease to be legal tender immediately. The announcement set off days of turmoil as millions of Indians tried to swap their suddenly worthless old notes for hard-to-find new notes of 500 and 2,000 rupees or older ones in smaller denominations.

T he demonetization of India's existing stock of 500 and 1,000 rupee notes is a $45 billion bonanza for the government that can be used to recapitalize the country's broken banking system, which needs roughly $90 billion to become whole again. I have tried to make this blog as easy to understand as possible even if it is read by someone with no financial background Lets consider Balance sheet of RBI as on June 30,2016.(source Bloomberg)

In   an unprecedented move to combat the menace of black money,  Honourable Prime Minister, Narendra Modi has announced  demonetisation of the INR 500 and INR 1,000 notes with immediate effect  from November 8 Midnight. The initiative seeks to control  corruption, fake currency circulation and terror financing.  While the move  will see initial chaos and short term pain, I believe it is structurally  positive as: It has obliterated black money;  A chunk of RBI’s liability  will get erased which could be used to rein in fiscal deficit/PSU bank  recap/push economic reforms;  Tax-to-GDP ratio will spurt fetching  rating upgrades;  The shift in trade from unorganized to organized  sector will see heightened acceleration.  

I n a surprise announcement late Tuesday, Prime Minister Narendra Modi banned 500-rupee and 1,000-rupee notes effective midnight, sweeping away 86 percent of total currency in circulation.  The fact is that  that this is a great move completely selfless and no conflict of interest whatsoever by the prime minister and if anybody could do it, it would be Narendra Modi who could pull off such a massive scheme 

Wealth at the top of the income distribution is skyrocketing, leading to growing inequality. This trend is especially pronounced in the United States Going by Most economists’ work   , inequality in America is much more severe than in Europe. So why aren’t American economists more preoccupied with wealth inequality? One reason is the deep influence of the so-called Chicago school. The economics department at the University of Chicago has long been a leader in the field; it has garnered the most Nobel Prizes of any university economics department and a significant number of John Bates Clark medals in economics.    But inequality has never been a priority for the Chicago school, to say the least. It has a strong focusses on how to promote competition and economic growth and the benefits of a free market. "In general, the [American] economics profession has avoided the subject of class conflict. All issues of distribution have been regarded as less pertinent tha...

-- I met him for the first time eight years back for some investments. A complete man as defined with great personality and brains. We started the professional relationship with a small amount and it stayed there. 2009 financial crises when all investors were running for cover I almost lost 75% of my business.Investors lost faith in financial markets but he continued to have faith in me.