Newsbytes

Man dies walking 200km to home. Videos of migrants cycling miles carrying children on their back. Thousands stranded in cities without food and water. This is only the tip of the iceberg. The plight of the migrants during COVID-19 is disheartening. Let us brush up on the basics. Migrants are those who move from one place to another(can be within country or between countries) either temporarily or permanently due to various reasons. The most dominant one being better employement opportunities. More than 20% of our population are migrants. Most of them leave their families in hometowns. They are daily wage earners. Rickshaw pullers, hawkers, street vendors, construction workers, workers in unorganised(some even in organised) sectors are few of them. The virus had put their jobs, life and future in uncertainty. The country is under lockdown for more than a month and we are having a great time binge watching, baking, spending time with family etc. But the other side of the country,...

Isn't it confusing? One side, there are people clapping hard, blowing their conches and tapping their plates together to show gratitude to the workers. On the other hand, they are breaking rules and trying to escape from medical examinations and thus making it tedious for the workers. One side, there are people in balconies with diyas and torches to stand in solidarity with India. On the other side, there are middlemen, shopkeepers taking advantage of this situation and sell goods at exorbidant prices and we ourselves hoarding food and staples in fear. Yes. It is confusing. Atleast for me. What if that person who just returned from abroad hadn't taken a paracetamol to escape the screening? What if people had followed rules diligently? Aren't we serious enough? Aren't we civilized? Orders, punishments, fines and what not? But, the market is still crowded. People are still roaming on bikes. Can you imagine the level of violation that pushed the ministe...

Banks lend chunks of money to large corporates. These corporates sometimes default in their payments and then banks go begging for money. It has happened many times earlier, it is happening and it will happen. Firstly, such cases definitely require a probe as it is the public money that is lent. Secondly, banks don't really lend if they are not sure about the repayments. So, there is something fishy going on with Yes bank. Zooming in, we find there is always one big shot causing all havoc. In the story of Yes bank, it is Rana Kapoor, the founder himself. He advanced a shitload of money to companies to which other banks turned their back. The owner of those were none other than Rana's daughters. RBI checks the accounts of other banks periodically. During this process, RBI found that Yes bank was under reporting their NPAs and various other norms were violated. Added to this was the bad governance that made RBI dissatisfied. In 2018, They reduced the tenure of Rana Kapoor...

Guess the celestial forces are not working in favour of China. Death toll exceeds 900, thousands of people already infected and with the whole of economy hit hard, China is really having a bad time. Any other financial, economical or political problem would be easier becuase they would still have a strong and committed workforce to develop solutions. But here, the power of human resource is itself dwindling. On 31st december, 2019, Wuhan, a city in China reported several cases of pneumonia to WHO. Later it was confirmed that there was an outbreak of Coronavirus, a virus that usually spreads among animals. It spread out like wildfire forcing the government to order for a complete shutdown. Let's now get into detail on the economic part. SECTORS AFFECTED: 1. Mask industry - Whether you plan for a heist or protect yourself from virus, the first thing you do is to cover your face. These surgical mask companies are the gods, heroes or whatever you call. The demand is soo high th...

Knocking down the leader will have a great psychological effect on the followers.That's exactly what the US has done. The tensions between US and Iran escalated when the former killed Iran's national hero and military general, Qasem Soleimani. So instead of the regular movie stuff of fighting all the gundas in middle and locking horns with the villain in climax, Trump had taken one clear shot. He justified his move by saying that Soleimani was a terrorist, a threat to Americans and killing him had actually prevented a world war. But his comments on the former US presidents raises doubt of him implementing this plan just to gain attention of the world and especially the Americans and win the upcoming US presidential elections. He blamed Obama and Bush for indulging in bad business with Soleimani and said that he has finally saved the country from evil. IRAN'S TURN Soleimani might have killed Americans, developed various attack plans, but he is still a hero to the Iran...

The prolonged fall-out had finally been exposed when Cryus Mistry, the chairman of Tata Sons was fired on 24th October, 2016. This shook the corporates and markets as Tata Group, a corporate giant, has never indulged in such unceremonious firing of a top executive. Let's first look at why this happened and then why this three year old news is still relevant. WHY WAS HE OUSTED? • Looks like Mistry had violated the very principle of Henri Fayol, "Subordination of individual interest to the general interest." Mistry is the chairman of Tata Sons. During his period, there were many deals between Shapoorji Pallonji & Co and Tata Sons. Ah wait. Let me tell you his full name. Cyrus PALLONJI Mistry. This eventually raises the question about which company Mistry was actually working for. • Tata Group was managed by the Tatas themselves for ages. They had their own way of running the business. But Mistry from Pallonji family indeed had a 'pallonj-ish' style of g...

India's growth is slowing down every successive quarter. Factories and plants are shutting down. People prefer to save more. Check out  The-great-slowdown-part-1 to know why all this happened. To speed up the economic cycle, the government can either pump more money into the economy or reduce how much they take from us by way of taxes. So they have taken a whole raft of measures from time to time to bolster the economy. 1)  The corporate tax rates were slashed to 22% from 30%. The companies can save crores from this measure. Hence, the market reacted positively on the day of announcement. 2) To encourage economic activity and boost consumption expenditure, the Finance Minister planned to hold Annual mega shopping festivals in 2020 which mainly focuses on jewellery, textiles, tourism, handicrafts etc. ( Fill your wallets :D) 3)  Public sector banks will be merged to create a larger and stronger one. Indian Bank will be merged with Allahabad Bank. Canara Bank with...