It was highly shocking to learn that State Bank of India (SBI) had levied Rs 1,771 crores between April and November 2017 as charges from customers who did not maintain their minimum monthly average balance (MAB) in their accounts.[1] To put the numbers in…
In the present India, only Banks should Pay Taxes
India is a country of mass starvation deaths and malnutrition but bourgeois politicians don't care. Obviously, unless a central government has the right…
Revolution is not Bitcoin but Blockchain, replacing double entry Bookkeeping and Banks.
The reason why digital fiat currency (DFC) is making capitalism obsolescent is that there is no need for loans, debts, interest or capital repayment,…
An Indian Vice Chair at International Telecommunications Union Focal Group on Digital Fiat Currency
After the 17 October 2017 announcement by the International Telecommunications Union that the ITU Focus Group on Digital Fiat Currency (DFC) is tackling regulation, technical dynamics and security, (1) Bank Sentral Republik Indonesia announced the following…
Briefing paper on Monetary Policy for a Unity Government 2019
The economic policy of the BJP has been blundering along in the footsteps of previous parties and exacerbating in a very short time all the very severe pre-existing problems built up over 80 years since the Reserve Bank of India creation, such that today in…
The failure of multi-party democracy in India
The 19th national congress of the Communist Party of China is underway. Every day the contrast between the Chinese model of development towards socialism and India’s failed multi-party democracy becomes starker. The vision for the world presented by China’s…
Digital Fiat Currency: Overthrowing Hindu Rashtra
International Telecommunications Union Meet on Digital Fiat Currencies India was nowhere to be seen at the International Telecommunications Union meet up digital fiat currencies in Beijing on 12 October 2017. Whereas BJP Hindu Rashtra punishes the people…
Inter-Generational Poverty in Bihar-UP: Any Light at end of Tunnel?
Inequality is a consequence of development in the conventional sense we understand post-cave life. The problem is absolute poverty and inter-generational confinement of the same set of people in that poverty trap. Let me reject some dominant views that the…
Children sans Childhood: Rag Picking Children in Allahabad, Uttar Pradesh
I am used to wander around to look at people not very much welcome to the civil and elite society – the society excluding unwelcome cross sections is generally self-claimed. My observations are about those who are projected in a way not much acceptable to…
RBI must issue e-Rupees to all citizens
The various reasons for demonetisation have not stood up to scrutiny: 99% of the Rs 500 and Rs 1000 notes came back to the RBI, so only Rs 165 billion out of Rs 16,415 billion may have been black money. Secondly if the aim was to stop people hoarding money…