Get subscribed to our newsletter
Get interesting updates to your email inbox.
With ATMs Shut, Piggy banks and Children’s Pocket Money comes in Handy after Demonetisation of Rs 500 or Rs 1,000 Currency notes
New Delhi, November 10, 2016: With ATMs shut after the demonetisation move, the ripple effect was felt among the city’s lawyers community too, some of whom had to borrow small change from their children and friends to reach the court complexes while some even took money from their children’s piggy banks.
Advocate M.S. Khan told IANS that he borrowed three notes of Rs 100 and some Rs 10, 20 and 50 rupee notes from his three children so that he could reach the courtpremises and do his work.
NewsGram brings to you latest new stories in India.
The government on Tuesday night declared that Rs 500 and Rs 1,000 notes have been demonetised from midnight, in an effort to fight black money.
Khan said: “As Prime Minister Narendra Modi announced that Rs 500 and Rs 1,000 notes would not be legal tender after midnight on Tuesday and ATMs will remain closed for two days, I requested my children early this morning to give me some notes of small value which I had given them earlier as pocket money.”
Khan said he profusely thanked his children for saving from their pocket money which helped him reach the court.
Another lawyer S.P.M. Tripathy also borrowed money from his son.
“I had notes of Rs 500 or Rs 1,000 only, so I asked my son to give me some money,” Tripathy told IANS.
He was thankful for having a ‘gullak” (piggy bank) in the house, and said that finally the saving of coins and notes of small value helped them manage the day.
Another lawyer said that he borrowed money from his friend to reach the court complex.
“When I saw a huge crowd outside the ATMs last night I requested my friend to give me some notes of Rs 100, 50, 20 and 10,” the lawyer said.
Go to NewsGram and check out news related to political current issues.
Even the court staff who did not want to be quoted said that money deposited in the home piggy banks and savings by their children helped them reach the court premises as they are also in the habit of keeping big notes in their wallets.
One of the court staff said the sudden announcement of demonetising Rs 500 and Rs 1,000 notes and ATMs being shut for two days created problems in the morning as it became difficult for him to purchase bread and butter.
Look for latest news from India in NewsGram
Despite the difficulty, court staff as well as lawyers welcomed the demonetisation of Rs 500 and Rs 1,000 currency notes and said it will help in curbing black money.
“People who have collected huge amounts and hide it in safe places to evade taxes will face problems. The steps will help in checking the huge unaccounted amounts,” a lawyer who did not want to be quoted told IANS.
“For us, it is a problem for a day or two as the ATMs will remain closed, but soon after the ATMs start functioning smoothly, everything will come back on track,” a court staff said.
Recalling Tuesday night’s chaos, one staffer said: “Did you ever see long queues outside ATMs before last night.”
People in the court complexes were seen discussing about the demonetisation of Rs 500 and Rs 1,000 currency notes. (IANS)
By- Tejas Maheta
When attempting to summarise the current performance and future portents for the South Asia economy, it's arguable that most of the region's nations are doing relatively well.
Malaysia offers a relevant case in point, as despite combatting Covid-19 whilst also dealing with a global oil price crash and political instability, the nation is poised to record economic growth of 0.5% by the end of 2020.
Sure, this is noticeably down on the initial 2002 forecast of 4.8% growth, but it needs to be considered against the backdrop of an unprecedented combination of socio-economic and geopolitical challenges.
Follow NewsGram on Facebook to stay updated.
Similar trends have been reported in Vietnam and Hong Kong, the former of which has recorded no coronavirus deaths at all and remains one of the few nations on course to achieve economic growth this year. But which nations are really leading the recovery in this region, and what should we expect going forward?
Surviving Covid - Currencies and Stimulus Packages
Of course, one thing that unites these nations is the proactive rollout of generous stimulus and quantitative easing packages, with Malaysia having provided an RM295 billion injection into the economy.
Of this, an estimated 15% (approximately RM45 billion) is a direct fiscal injection in the government, with the remaining capital introduced in the form of slashing base interest rates and managing inflation.
Hong Kong has also introduced several rounds of quantitative easing measures since February, with April's iteration providing an HKD120 billion relief package and taking the total government stimulus investment to HKD290 (which equates to 9.5% of Hong Kong's gross domestic product).
In the case of both Malaysia and Hong Kong, these measures have also helped to boost the value of domestic currencies. The Hong Kong dollar rose for the fifth consecutive day last week, for example, while the HK Monetary Authority sold a further HK£3.72 billion of local currency and continued to boost their capital inflows as a result.
The Malaysian Ringgit has also performed relatively well against major currencies of late, although it faces additional challenges in the form of the recent global oil price decline.
So, although crude oil prices have recently rebounded slightly, Malaysia's currency value has been impacted by rising capital outflows and forced to trade within an increasingly narrowing range.
Common Ringgit notes Image source: wikimedia commons
A Look Ahead - What Can we Expect?
Asia was the region first affected by Covid-19, and therefore it stands to reason that its nations should have commenced their recovery quicker than those in Europe and the US.
Interestingly, the shoots of recovery may be green in more ways than one, with the Export-Import Bank of Korea leading the return of Asian green bonds in the primary financial market.
Also Read: Zimbabwe Ends Its Interim Currency
Of course, the idea of sustainable finance and investment has been a hot-button topic in Asia for a while now, while we've also seen a significant increase in demand for Green, Social and Sustainability (GSS) bonds in recent times.
This followed the introduction of a 700 million Euro green bond and Korea's pledge to achieve net zero carbon emissions by 2050 (following hot on the footsteps of the UK).
With these points in mind, there's clearly the potential for Asia to build on its relative strength and initial Covid-19 recovery by investing in sustainable assets and building a considerably greener future.
(Disclaimer: This article is sponsored and contains commercial links)
How Can A Person Create His Cryptocurrency, And What Are The Benefits Of Creating His Cryptocurrency?
By- Jean Nichols
Bitcoin is the first cryptocurrency, and many people have been inspired by bitcoin, and they started to create their cryptocurrency. Even many people are creating their cryptocurrency. Daily there is a new cryptocurrency that is created daily. In this further, we will discuss the factors required to make our cryptocurrencies are.
What are the benefits of cryptocurrency?
There are many benefits of investing in cryptocurrency on https://bitcoin-loophole.live/ . Because of this reason; there are many people who have shifted from the share market to cryptocurrency for investment purposes and for earning huge profits.
●The primary advantage of cryptocurrency is that the market of cryptocurrency is very volatile and rises and falls very quickly. So just by getting the knowledge, one can very quickly invest in cryptocurrencies.
●The second main advantage of investing in bitcoin is that it is a universal currency. One can easily invest in cryptocurrencies and use Them in any part of the world.
●This is a universal currency, so it is straightforward to make international transactions through it. International transactions take very little time on this platform.
There are some of the other primary advantages too, like less time-consuming, low transaction charges, etc.
Follow NewsGram on Facebook to stay updated.
A chart depicting crypsocurrency rates and prices Image source: wikimedia commons
Are factors necessary for creating your own cryptocurrency?
While creating your own cryptocurrency, there are some factors that need to be taken care of before starting work on them.
●The major thing which is required in this is that we require a professional coder who has essential experience. He can help us create our own cryptocurrency by doing satisfactory coding.
●Another thing we need is the blockchain. In the case of the blockchain, we can create our own blockchain, which would cost very high and which would be very time consuming; instead of that, we can use the blockchain of some other cryptocurrency. Now there comes the difference, if we are creating our own blockchain, then it will be known as the coin, and if we are using the blockchain of some other crypto, then it will be known as a token.
●Another major thing required for creating our own cryptocurrency is that we need full-time customer care support, which can handle customers easily.
●Another thing is that we require a proper payment gateway so that we can make the money transfers very conveniently.
●The last factor which controls all the above factors is that we need a considerable investment amount and along with that the investors.
What are the advantages of new cryptocurrency?
There are many advantages of creating own cryptocurrencies:
●The owner of the cryptocurrency can hold a large proportion of the bitcoin on his own, and when the prices of the crypto rise, then he can easily sell the crypto in proportions and can live a luxurious life.
●The prices of the new cryptocurrencies rise; there are no chances of falling down of the bitcoin prices as the new crypto price rises continually as anyone invests in it.
Bitcoin is well on its way to replacing or globalising currency Image source: wikimedia commons
As with the time, a new cryptocurrency should give some benefits to the users:
●It should provide fewer transaction charges as much as possible; this is also the main thing that matters in cryptocurrency.
●The payment gateway should be the best, and there should not be the payments on hold in it; the user hates these types of things.
●Customer service should be the best one and deal with the customers in the best way possible. Because polite customer service can impress the customer and he will recommend others to invest in the cryptocurrency.
Here we have discussed the factors which are very necessary for a new cryptocurrency. There are benefits both to the users as well as to the people who are investing in cryptocurrency. The owner of the cryptocurrency will earn money by keeping the central part of the holdings and sales in it in the future.
The users can earn profits by investing in it initially and sell it in early times as there will be the price of the crypto in the skies. So, this was all about creating your own cryptocurrency; the only problem which arises is that there comes the problem of the funds' collection.
(Disclaimer: This article is sponsored and contains some commercial links)
By- Steve Carty
Blockchain technology has proven over the years that it is here to stay, and one of the infrastructures that it houses is the Binance Smart Chain (BSC). The BSC has many benefits, like lower gas fees, and already has many tokens listed on it. This is why we believe the HUH Token is being created on such a secure and affordable platform.
Apart from affordability and security, the BSC also solves some of the associated problems with the other Blockchain networks. This includes scalability issues that arise during periods of elevated congestion. BSC also has Proof-of-Staked-Authority (POSA), which makes the process less energy-intensive, and faster.
To understand how the blocking technology works, understand the following:
The BSC works in line with the Binance Chain, and it is the network that the HUH Token will be listed on. The BSC network works using the Proof-of-Staked-Authority (POSA); this essentially means that people who work on validating the network usingsome BSC tokens to participate and are compensated with the fees from transactions. The BSC does not work with the BEP-2 and BEP-8; rather, it uses the much faster BEP-20. This architecture is related to ETH-20 Tokens, which implies that they can be easily swapped.
The BSC network has seen a surge in users and prices since it was first introduced. It has gained competitive capacity and become one of the most embraced systems, even rivaling Ethereum.
Follow NewsGram on Facebook to stay updated.
The BSC network has seen a surge in users and prices since it was first introduced. | Pixabay
The New HUH Token to be on BSC
The HUH Token is having a lot of effort put into it by its developers. This was why the BSC network was adopted. It means that all the benefits listed – like faster transactions, cheaper gas fees, and easy movement of tokens even during congestions – will also be enjoyed by those who buy the HUH Token. With the growth of the BSC network, the Token will continuously evolve andimprove.
The HUH Token will be using a referral system that will revolutionize the wayan individual can make passive income. By sending out a referral link to friends and family,they can just sit at home wait for the rewards to arrive. We expect this to change the game and the way everyone views crypto.
ALSO READ: Interesting Facts About Crypto Portfolios
When they launch in 2 weeks,they will showcase to the world that the HUH Token willreward both holders and active referrers, and that the reward will be in BNB and in HUH redistribution.
Let's see what the coming days and weeks will bring.
Follow them on their Socials before they Launch:
(Disclaimer: This article is sponsored and include some commercial links)