December 9, 2013 Leave a comment
For Whom Wealth Matters
December 4, 2013 Leave a comment
If you are stuck with soiled and mutilated notes,you can get them exchanged and the RBI has prescribed the rules to do so:
RBI terms a note as soiled when it becomes dirty due to normal wear and tear and also when two pieces are pasted together in such a way that both the pieces actually belong to the same note and form the entire note with no essential features missing. Such notes can be exchanged for full value over the counter at any bank branch. And, as per the RBI’s rule this type of note has to be accepted by the bank branch, even if you are not a customer of the bank.
According to the RBI, a mutilated note is one of which a portion is missing or which is composed of more than two pieces.For Rs 5/10/20 you get the full value back if the area of the single biggest undivided piece of the note presented is more than 50 percent of the area of the respective denomination. If the biggest area (piece) is less than or 50 percent of the area of the note, you won’t get any money. If your note is of Rs 50 denomination or above, you will get full value of the note if the area of the single biggest undivided piece is more than 65 percent of the area of the respective denomination.But, if the biggest piece is between 40 percent and 65 percent of the area of the respective denomination, then you will get half the value of the note back. And, if the biggest piece is less than 40 percent, then you won’t get any value back and you will have to let go of the money
December 1, 2013 Leave a comment
In my post here:Link,I mentioned developing an online map of Mumbai on which women could mark spots where they faced harassment and where the timing of incidents would be recorded.The data could be analysed to better deploy limited police resources.I’m happy to discover that there are now 3 such initiatives:
So ladies,start logging incidents,lets fight back and reclaim access to public spaces.
November 30, 2013 Leave a comment
Guru Swarup Srivastava, who created a stir in 2004 by signing up maverick artist late M F Husain to create 100 paintings worth Rs 100 crore is putting up for sale 25 pieces the master had managed to complete before the deal went awry.
Just two years after hitting the headlines with the deal, Srivastava plunged into infamy when the Central Bureau of Investigations launched a probe into a Rs 235-crore loan NAFED had extended to him to import iron ore, but a part of which he diverted to make real estate investments. Months later, Delhi police’s Economic Offences Wing booked him for defrauding two chartered accountants and the Enforcement Directorate booked him for money laundering.
Ringed by financial troubles, Srivastava was unable to fund his Rs 100-crore project with Husain. But the artist kept his side of the pact by delivering 25 paintings for the Rs 25 crore advance he had received. Srivastava now hopes to use these paintings to pay off his dues and start life afresh.
Incidentally, in 2006, due to some controversial paintings Husain had done, he was charged with hurting the sentiments of people and faced several lawsuits. Husain then left the country, living in self-imposed exile in Doha and London, where he died in June 2011, aged 95. Read more of this post