Image Courtesy: The Indian Express
PB’s twisty take on the top five headlines of the day.
1. Government not mulling December 30 cut-off extension for cash deposits
As per earlier announcements, From Jan 01 to Mar 31 2017, public can deposit in RBI with valid reasons for delay in depositing. Up to Dec 31, 2016, public can deposit in other banks. Already note exchange has stopped in banks. There is still a month to deposit the notes in banks accounts. Restrictions on withdrawal of money in cash should not be relaxed. Vigilance in banks and post offices should be increased.
2. Two terror incidents in Jammu; 7 army-men, 6 terrorists killed
Two major terror attacks rocked Jammu region in which 7 army personnel, including a Major, were killed and eight other security-men, including a BSF DIG, were injured. The only good news is that the situation was very quickly contained.
3. Colombia Plane Crash 76 Dead
Brazil is mourning the deaths of dozens of its countrymen aboard a flight that crashed. Officials found the plane’s so-called black boxes and the recording reveal that the flight was in perfect condition. All prayers go to the families of those who were lost.
4. PM Modi’s Big Move: BJP Lawmakers To Share Bank Records After Notes Ban
And why to Amit Shah for moderation? They are public representatives they should give to public on their website open to everyone.
5. Mapping the market: Bank stocks spoil mood; realty stocks make hay
These are excellent times for discerning investors to make staggered purchases for building long term portfolios for humongous wealth generation. Coming few weeks are going to be turbulent till the dust settles down on Demonetization and its actual impact on the economy. The markets have already fallen significantly and may go thru time wise correction now.