It’s Glorious To Be Rich

wealthymattersThe richest 1% of Indians own 53% of the country’s wealth, according to the latest data on global wealth from Credit Suisse. The richest 5% own 68.6% of the country’s wealth, while the top 10% have 76.3%.

India’s richest 1% owned just 36.8% of the country’s wealth in 2000, while the share of the top 10% was 65.9%. Since then the richest have managed to steadily increase their share of the pie, as the chart shows. This happened during the years of the National Democratic Alliance (NDA) government from 2000-04, during the first United Progressive Alliance (UPA) government backed by the Left, during the second UPA tenure and now in the first year of the Modi government; the share of the top 1% has now crossed 50%. The colour of the government has been no impediment to the steady rise in the riches of the wealthy. Read more of this post

#ITforParivahan : Ride-Safe @nitin_gadkari , @MORTHIndia , @vinit_goenka , @TVMohandasPai

#ITforParivahan wealthymatters#ITforParivahan is a government initiative to crowd source ideas for use of IT in transportation.

Ride-Safe, is my idea for ensuring the safety of women in public transport. It is a comprehensive, personalized, modernized and extended take on the emergency safety chains found in all Indian train compartments. Should you have ideas for improving my idea, please be sure to comment them below. Ride-Safe is my submission to #ITforParivahan.

Ride-Safe calls for: 1)A physical SOS button on cell phones,2)An electronic number plate on all vehicles used in public transport And 3)A remotely operated vehicle slow-down unit in all vehicles used in public transport. Read more of this post

Food For Thought

wealthymattersSince 2000, over 61,000 high net worth individuals – all dollar millionaires – have relocated outside India. The millionaires who left India vastly outnumber the number of people declaring incomes above Rs 1 crore annually – just about 43,000.

Online Personal Loan


Personal loans have been around forever. And in most cases, a loan against collateral is preferable, as it works out cheaper over the long term. But, in cases where you just don’t have the assets to mark a lien upon or are not inclined to offer them as collateral or haven’t the time or complete freedom to mark a lien upon them or find it socially or business-wise unacceptable to be perceived to be in trouble by openly pledging your assets, a personal loan is an option, as long as you have a documented work history and access to a few pay slips. Personal loans often work out cheaper than credit card loans. Read more of this post

Shopclues Sucks

Shopclues, just like OLX and Quikr seems to be indulging is some sharp practices thought up by their SEO personnel. The latter two merely stuff their sites with false ads with wrong contact details, to make their site seem busier than they are and rank for more combinations on search engines. They have investors who need to be impressed and their income comes from ads which pay depending on the amount of of supposed web traffic on their site, which they try to increase by cheating. And of course,they earn from featured classifieds, though I’m sure most of us willing to go for the paid classified way would take our business to better places. These false classifieds are a pain, but after a while we learn to spot them easily by the same pictures used, suspicious names and addresses.  Shopclues goes one step further, to compete with other e-commerce sites, they hope to attract bargain minded customers via price comparison sites and google ads which feature products at great prices on the Shopclues site. The rub is when customers pay for the products and expect delivery.Then Shopclues has in place a splendid system to save itself from losses and make it hard for people to collect on the promises they have made to customers.

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