Harassment of small investors by intermediaries SEBI n RBI and the unending kyc process ..

No other country harasses small investors and bank account holders like INDIA .Every few years accounts get forzen transaction blocks are enforced and people are put through unnecessary harassment in the name of KYC and KYC update.

The harassment is so blatent and the whole circus is so illogical that even the ex RBI Governor Subba Rao could not open his bank account .. but the royal family he belonged to ie RBI , very quickly changed rules to accomodate him, \but what about the mango man or aam admi or common man ?

Reserve Bank of India (RBI) Governor Raghuram Rajan highlighted the need to minimise the regulatory burden for things such as the Know Your Customer (KYC) norms. This was brought to his notice, he said, when he discovered that his predecessor, D Subbarao could not open a bank account in Hyderabad. 

https://www.business-standard.com/article/opinion/kyc-for-subbarao-114081700655_1.html

Now there is a fresh call by SEBI to update kyc if u have Aadhaar as proof while opening your mutual fund folio

https://cafemutual.com/news/industry/28658-tell-your-clients-to-revalidate-their-kyc-by-april-30-2023-to-avoid-disruption-in-transaction

Investor comments say it all about how lopsided the system is

Varun Vaid · 1 week ago `

As per best of our understanding, to do any kind of modification in KYC records, there is no digital process as on today. Investor or MFD has to do the needful via physical application only. Furthermore, KRAs have not provided any MFD or Investor any such provision where they can upload XML data for revalidation of Aadhaar as OVD for any such modification to take place. For NEW KYC such provisions are there & for existing physical updation is the only way. If there is such digital process kindly enlighten us.

Eswaran jayaprakash Kusuma · 5 days ago

It is true.unnecessary harassment by SEBI.introduction of kyc,Fatca,masking of aadhaar,now eaadhaar etc are cumbersome to follow. Investments are made by cheques and bank transfers.Banks have followed all KYC norms,linking of pan,aadhaar,phone numbers etc. Then why these formalities.duplication of work. They have to realise and Amfi should take steps..

Ravi · 1 week ago `

I request regulator to introduce mega KYC once and for all. Ask for Pan, Birth certificate, Aadhar, election card, driving license, Passport, Gas bill, electricity bill, mobile bill, bank passbook, school LC, ITR copy, mothers pan crd, fathers pan card, wife’s pan card, photo, finger print, retina scan and than for gods sake don’t ask to do KYC for coming 10 years Plz Plz..

Paresh Shah · 1 week ago `

Dear investor,
IF ALL YOUR PREVIOUS INVESTMENTS WANT TO REDEEM YOU HAVE TO PROVE YOURSELF AND If you want to reinvest in Capital Market please bring your Birth Certificate, Educational certificate, Marriage certificate, Pan card, Aadhar card, Driving Licence, Passport, Ration Card,Election certificate, All Bank account Details with current balance, all previous income tax return copy, with source of income Mobile Number with Bill ( Prepaid not allowed) valid Email proof all other utility bill in your names only if in the name of parents or grand parents provide notarized no objection certificate as all your documents is required by SEBI because they want 100 LAkh crore AUM

Shekhar Joshi · 6 days ago `

I think time has come to go for “Janhit Yachika” in Supreme Court to avoid Pain created by SEBI every few year’s. Rule’s should not be implemented for existing folios (folio’s generated before 1st Nov 2022).

Nilesh Dave · 6 days ago `

It’s really shocking for frequent changes every now and then. Investors are getting irritate and sometimes denay to invest on such issues. My experience says that NRIs are now reluctant to invest due to such different demand of papers very frequently.I don’t understand why AMCs are not coming forward to present the issue in front of authority otherwise it would be a challenging days for them in context of business provided they have no intention to abolish MFDs from the route

BLOCK / TRACK UR LOST MOBILE Phone using its IMEI number in INDIA

The Government of India the Central Equipment Identity Register or CEIR.is a database of IMIEs CEIR is a central database with the IMEI numbers of all mobile operators.The registry is managed by the Centre for Development of Telematics.

Since each mobile phone has a unique IMEI number, it is easy to differentiate the device from others. They work with telecom operators and other regulatory authorities to track lost smartphones.

This basically allows users to block or track a lost phone even if the SIM card is removed or replaced.

One must retain Purchase proof and the box of the phone or the about phone details containing IMIE codes etc…

If your phone is lost or stolen you should

1. File a police complaint detailing PHONE No and IMIE No
2. Request for blocking lost/stolen mobile https://ceir.gov.in/Request/CeirUserBlockRequestDirect.jsp
3. Keep the code provided to unlock the IMIE carefully if u retreive ur phone.
4. Check if the particular imie/s are reported blocked or stolen .

Police in India only take down a complaint ,and hand you a paper acknowledging ur complaint , they act only if it is a VVIP Phone which is tracked within hours, but for aam admi they will not even bother to add it to CEIR database as stolen as per my experience.

If ur phone has NET access ie the person using it has switched on interent or wifi then u can try to use ur google gmail to track it

patience is key . So best of luck !!

Adding Digital sign to MCA India

Uploading digital signatures to the MCA INDIA site run by Infy is a big hassle and many a Chartered Accountants and Company Secretaries suffer to successfully upload DSC

http://www.mca.gov.in (Ministry of Corporate Affairs, New Delhi)

Tips on getting things right

1. Use latest software >> uninstall old java / old digital sign software and Install the latest updates
2. SAVE all ur digital signatures by inserting ur key pen drive > opening the DSC pen drive > LOGIN > EXPORT to desktop /documents then Logout from HYPER PKI (DSC Software)
3. Internet Options > CONTENT > Certificate Add certificates from desktop / docs to Personal Store
4. Internet Options under ADVANCED tick USE SSL 2.O /3.0 in Advanced
5. Add http://www.mca.gov.in to trusted sites in ur browser IE or CHROME
6. Unuinstall old EMSigner and download n install latest EMSigner from MCA Website
7. Add EMSigner as exception in windows defender and Internet security or AV Software
8. Open Configure JAVA> Security and add http://www.mca.gov.in to Site Exceptions
9. Open Configure JAVA> Security Manage certificates and Add the certificate from desktop or documents (check 2.)
10. Now open MCA SITE http://www.mca.gov.in login .. fill details
11. Open EMSigner Right click Run as Admin
12. Check if Java and is running and the MCA Signer box opens with needed signature/s
13. If not exit and reopen EMSigner as Admin or repeat till the signer box opens with dsc and continue filling ur form

Some of the above steps may not be necessary for you so best wishes on filing corporate returns !!

Incompatible Error with EMsigner

Go to Task Manager > Performance > Resource monitor and search for the specific program running on port no 2015 . Uninstall that program from control panel add remove programs restart the computer and then emSigner should work.

DSC # MCA INDIA # Company returns Efiling # emsigner #T roubleshooting Errors When Using DSC – MCA # Please start the EM Signer #Digital Signature Certificate (DSC)#

Indian Saver and Retiree facing STAGFLATION !!

COVID and its aftermath led to govt killing the saver with negative interest rates and worse prices of everything/ daily commodities / basics etc shot up by a minimum of 5% to 10% .. worse the UKRAINE WAR has increased inflation by another 10 to 15 % the difficulty as commodities such as Wheat and OILS have shot up as has cost of fuel gas , petrol diesel etc.

Savings bank gives 3.5 % if ur lucky fds give u 6% seniors get 6.5%. A Vadapav which cost Rs 10 now costs 15 to 25. Even AMUL was forced to up milk costs by Rs 1 / 2 .

The State Govts and Centre has increased inflation by increasing fuel tax during covid time. RBI has done nothing to deal with inflation,, It created very ultra easy liquidity policy post covid..Govt data Inflation is much above RBIs own stated comfort zone. The bond market has been signaling massive inflation for some time now as ET on apr 4 headlined : 10-year bond yield to soon cross 7%; bloodbath in market shows struggle with supply..

Elevated crude prices , commodity prices and a massive govt borrowing program can be a recipee for disaster especially for the non pension retiree and saver who depends on fds as incomes have crashed.

“The 10-year benchmark paper should be around 7-7.25 per cent, possibly by the end of this month as the borrowing in the first half is definitely higher than what the market had expected,

On 4 May, the Reserve Bank of India (RBI) shocked both the stock and bond markets by raising the repo rate by 40 basis points (bps) to 4.4%. This was an inter-meeting hike. and this is not going to change anything Is it too little too late ?

Budget 2022 – What matters most !

With 5 state elections and the farmer agitation fiasco the budget was expected to be populist and fiscally imprudent , The govt should have indexed slabs to real or at least CPI Inflation to give relief to people. ET says Middle class taxpayers left in lurch again as there are no changes in the tax front

Budget math doesnt add up  .. it seldom does in India The combined deficit of States and centre is 10.5%+ .. and govt will go for record deficit financing ..This is interesting as US fed is expected to up Interest rates and change policy from ultra super easy monetary policy . THE RBI and Modi govt will depend on INFLATION TAX as a means to balance its books !!

Will we have runaway food inflation ??? Already real food inflation is massive ,, greens prices are double .. vegs costs are up 25to 50%

TAX Rates refresher

Tax Rates

Tax Rates Senior Citizens

Tax Rates Super Seniors 80+.

Standard deduction Rs 50,000 as provided, they opt for the old tax regime in the financial year 2022-23.

Broad Tax Proposals

• Provision for filing ‘Updated Income Tax returns’ within 2 years from end of relevant AY
• Reduced AMT rates for Co-operatives from 18.5% to 15%
• Reduced surcharge for Co-operatives with total income of 1cr to 10Cr Proposal will reduce surcharge on cooperative societies to 7%.
• Tax relief for persons with disability: Allow annuity payment to differently abled dependents when parents attaining age of 60 years
• Deduction for National Pension Scheme for State Government employees u.s 80CCC made at par with Central Govt.
• Start-ups established before 31.03.2023 (earlier – 31.03.2022; now extended by 1 year) will be provided tax breaks
• Last date for commencement of manufacturing for claiming lower tax regime under Section 115BAB to be 31.03.2024 (earlier 31.03.2023; now extended by 1 year)
• Virtual digital assets (Cryptocurrency):
  Income from transfer of virtual digital assets to be taxed at 30%; No deduction for expenses other than cost of acquisition; No set off of losses
  TDS @ 1% on consideration above specific threshold
  Gift to be taxed u.s 56(2)(x)
• No repetitive appeals for common question of laws
• Off-shore banking units/ IFSC income to be provided exemptions
• Surcharge of certain AOPs to be capped at 15%
• Surcharge on Long Term Capital Gains on any assets to be capped at 15%
• Health and education cess not allowable as business expenditure u/s 37
• No set off of losses against undisclosed income detected during search
• Any cess or surcharge on income not allowed as business expenditure
• 1 per cent TDS on transfer of virtual assets above a threshold, gifts to be taxed
• Surcharge on long-term capital gains capped at 15 per cent
• Loss cannot be set off from any other income

Expenditure and deficit & other key numbers
Proposed fiscal deficit of 4.5% of GDP by 2025/26
Projected fiscal deficit of 6.4% of GDP in 2022/23
Revised fiscal deficit for 2021/22 at 6.9% of GDP
50 year interest free loans over and above normal borrowing allowed for states
Scheme for financial assistance to states for capital investment outlay to be Rs 1 lakh crore for 2022/23 Public issue of Life Insurance Corporation expected shortly

Tax payers can update returns within 2 yrs of AY: Taxpayers will be given more time to update their income tax returns (ITR), announced FM Nirmala Sitharaman during her Budget 2022 speech. As per the announcement, “I am proposing to file an updated return on payment of additional tax for two years from the end of the relevant assessment years.”

Budget 2022 levies 30% tax and TDS on crypto assets: The government has proposed that transfer of any virtual/cryptocurrency asset will be taxed at 30%. No deduction except cost of acquisition will be allowed and no loss in transaction will be allowed to be carried forward, the finance minister announced in Budget 2022 today. TDS will be imposed on payments for the transfer of crypto assets at a rate of 1% for transactions over a certain threshold. Gifts of crypto assets will be taxed in the recipient’s hands.

Some pointer from Economic times site

MUMBAI LOCAL TRAIN FARE CHARTS

MUMBAI LOCAL TRAIN LOCAL FARE CHART / MONTHLY PASS FARE CHART

Click to access 1442984551054-Suburban%20Fare%20table%20ST.pdf

https://wr.indianrailways.gov.in/cris/uploads/files/1442984551054-Suburban%20Fare%20table%20ST.pdf

Click to access 1442984528198-Suburban%20Fare%20table%20CT.pdf

https://wr.indianrailways.gov.in/cris/uploads/files/1442984528198-Suburban%20Fare%20table%20CT.pdf

WESTERN RAILWAY TRAIN SCHEDULE / LIST

Click to access 1638371084682-DN%20TRAINS%20%20%20W.E.F%20%2022.11.2021.pdf

CENTRAL RAILWAY TRAIN SCHEDULE / LIST

https://cr.indianrailways.gov.in/view_section.jsp?lang=0&id=0,5,2360

NETWORK MAP

GAS GEYSER SERVICE N REPAIR

GAS GEYSER SOUNDS
TiK CLIK CLICK CLICK CLIK CLICK TAK ……PUK TiK
TiK MAGNET CLIK IGNITER TAK SOLENOID OPEN PUK SOLENOID CLOSE
DIRT GRIME IN PIPES BURNERS AND HEAT EXCHANGER WILL DISABLE GAS GEYSER
RELEASE pressure from GAS INLET pipe by removing the regulator and the gas pipeNOZZLE on the GAS GEYSER .. Clean/OIL LPG regulator DIAL and PIN

Clean the inlet mesh on gas pipe and water pipe properly. REMOVE all CONNECTIONS with circuits and switch AND CLEAN PINS OF ALL CONNECTORS with toothbrush WD 40 OR IPA AND RECONNECT ..
When u tighten n reconnect the GAS PIPE use TEFLON TAPE and please CHECK FOR GAS LEAKAGE WITH SOAPY SOLUTION A good seal is vital to avoid fires .

CHK BATTERY BOX
Chk the wires comming out of Battery BOX With DC Voltage Multimeter DC CURRENT DIAL 20
Batterys should give slightly below or around 3v DC ie 1.5 x 2 Note READING
Chk if switch is ok

When SWITCH is ON an water tap is OPENED MAGNET In pipe moves up
and activates the MAGNET SENSOR
Open TAP: TIK MAGNET Goes up Water inlet pipe and completes water circuit
Close TAP : TIK MAGNET Goes down breaking water circuit. Continuity chk : circuit is continuous when water is flowing ie magnet is next to it,

CHK if MAGNET IS MOVING UP AND DOWN IN WATER INLET PIPE

CHK MAGNET SENSOR IF NECESSARY
IF MAGNET SENSOR IS OK LED will glow or blink IGNITER on burner with black thick wire WILL spark and GO TAK TAK TAK
UN SCREW MAGNET SENSOR AND HOLD A MAGNET TO IT , CIRCUIT IS CONTINUOUS
Remove MAGNET :Circuit should close. RESISTANCE between wires IS 1 OR 2 OHMS.
CIRCUIT BOX CAN BE FAULTY IF GAS SOLENOID IS NOT GETTING CURRENT FROM BATTERY BOX OR IF IGNITER IS NOT CLICK STARTING .
CHECK CIRCUIT BOX
A. OPEN TAP Or SHORT WIRE CONNECTING MAGNET SENSOR
CHECK IF IGNITER on burner with black thick wire WILL spark and GO TAK TAK TAK ..
TEST VOLTAGE TO SOLENOID WITH DC 20V ON MULTIMETER
Red (+) wire and Black (-) provid Power and Yellow is feedback
B. OPEN TAP Or SHORT WIRE CONNECTING MAGNET SENSOR
Check leads from Circuit box .. current should be appx same as the battery box reading .

CHECK GAS SOLENOID CIRCUIT
Remove LPG REGULATOR OPEN TAP Or SHORT WIRE CONNECTING MAGNET SENSOR
Check CONTINUITY ON SOLENOID RED N BLACK wires ..IF OK THEN COIL is working
Resistance between SOLENOID Data and Red / Data and Black are similar ..
THERE IS RESISTANCE IS between RED BLACK wire .

SERVICE GAS SOLENOID The spring tends to go loose over time or rust or humidity
Remove solenoid CAREFULLY Be extra careful CHK IF rubber ring / GASKET is intact .
Clean and STRETCH the spring on the SOLENOID .. Remove any dust dirt etc,
Clean Solenoid with WD40 OR KEROSENE if necessary . GREASE OR MACHINE OIL IT .
REASSEMBLE WITH DUE CARE : CHECK RUBBER RING IS IN GOOD CONDITION AND PLACED CORRECTLY REPLACE IF NEEDED. TIGHTEN SOLENOID SCREWS PROPERLY SO THERE IS AN AIRTIGHT SEAL

TEMPERATURE / THERMAL SENSOR / OVERHEAT CUTOUT ON HOT WATER OUTLET
Thermal cutout is located ON HOT WATER OUTLET PIPE This is a protective sensor to prevent burn outs AND prevents overheating of GEYSER.
RESISTANCE IS 1 OR 2 OHMS /
Continuity chk : Circuit is continuous till the thermal cutout activates and breaks circuit.

CLEANING THE BURNER AND THE HEAT EXCHANGER
BURNER needs to be cleaned if ur getting orange flame instead of blue . CLEAN WITH BRUSH AND ALCOHOL. CLEAN HEAT EXCHANGER WITH DILUTED ACID esp if ur water is hard and high in calcium content and water flow in geyser is drastically reduced.

GAS Geyser Circuit Repair

GAS GEYSER SOUNDS

TiK CLIK CLICK CLICK CLICK TAK PUK

TiK MAGNET CLIK IGNITER TAK SOLENOID OPEN PUK SOLENOID CLOSE

When u Switch ON the Gas Geyser and OPEN TAP , the water flows, magnet censor allows power to the CIRCUIT BOX which provides power to the igniter /starter producing sparks and also to the solenoid valve that releases gas flow to the burners

Normally SOLENOID PLUNGES and recovers on tap OPENING and Closing to
start and stop gas ..If solenoid closes instantly after it starts then there is a problem , need to investigate issue with the plunger or circuit box .

Open the geyser cover and remove the pipes

RELEASE pressure from gas pipe by removing the regulator and loosening the gas pipe NOZZLE on the GAS GEYSER .. Clean/OIL LPG regulator PIN and insides and pipe if necessary ..USE TEFLON TAPE AT GEYSER END AT GAS PIPE.. Clean the inlet mesh on gas pipe and water pipe
When u tighten n reconnect the GAS PIPE please CHECK FOR GAS LEAKAGE WITH SOAPY SOLUTION AT PIPE REMOVE all CONNECTIONS with circuits and switch AND CLEAN PINS OF ALL CONNECTORS WITH WD 40 OR IPA AND RECONNECT

ELECTRICAL CIRCUIT BOX FUNCTION
POWER FLOWS FROM BATTERY BOX TO THE CIRCUIT BOX
VIA WATER CIRCUIT SWITCH / WATER FLOW SENSOR THE ELECTRICAL CIRCUIT BOX

Battery should give slightly below or around 3v DC ie 1.5 x 2
chk the wireS comming out
of Battery BOX With DC Voltage Multimeter DC CURRENT DIAL 20

CHK IF SWITCH IS WORKING IE THE IGNITER
on the burner with black thick wire WILL spark and GO TAK TAK TAK
LED will glow or blink a bit when switch is on

TEMPERATURE / THERMAL SENSOR / OVERHEAT CUTOUT ON HOT WATER OUTLET
Thermal cutout is located ON HOT WATER OUTLET PIPE This is a protective sensor to prevent burn outs AND prevents overheating of GEYSER.
RESISTANCE IS 1 OR 2 OHMS /
Continuity chk : Circuit is continuous till the thermal cutout activates and breaks circuit.

WATER CIRCUIT / WATER FLOW SENSOR MAGNET / MICRO SENSOR ON WATER INLET (OPEN TAP AND CHK) RESISTANCE IS 1 OR 2 OHMS Check if u hear a noise as the magnet moves up the water pipe and completes circuit MAGNET GOES UP AND DOWN THE PIPE
Open TAP: MAGNET Goes up Water inlet pipe and completes water circuit Close TAP : MAGNET Goes down breaking water circuit. Continuity chk : circuit is continuous when water is flowing ie magnet is next to it,

GAS CIRCUIT

SOLENOID VALVE Regulates gas flow to the geyser. its electrical circuit can get damaged or its spring can get jammed over long period of usage due to dust and wear and tear.

Check the DC Voltage of the leads on the battery box .and note it down .. its little under 3V DC. Remove LPG REGULATOR & DISCONNECT THE SOLENOID , then start water or short water circuit pins to start geyser,, Check the BLACK AND RED LEEDS FROM THE CIRCUIT BOX to see if it is providing current . Reading should almost match battery readings.. IF Not then CIRCUIT BOX can be faulty.

Red (+) wire and Black (-) provid Power and Yellow is feedback normally

A . Remove LPG REGULATOR Check CONTINUITY RED N BLACK wires ..IF OK THEN COIL is working short water circuit or open water tap . The clicking will start n bulb will glow

Resistance between Data and Red / Data and Black are similar ..

B . The spring tends to go loose over time or rust due to humidity

IF SOLENOID IS JAMMED Remove solenoid CAREFULLY Be extra careful to see if rubber GASKET is intact . clean the plunger and spring on the SOLENOID with WD40 OR KEROSENE . AND GREASE OR MACHINE OIL IT AND STRETCH THE SPRING .
REASSEMBLE WITH DUE CARE : CHECK RUBBER RING IS IN GOOD CONDITION AND PLACED CORRECTLY REPLACE IF NEEDED

TIGHTEN SOLENOID SCREWS PROPERLY SO THERE IS AN AIRTIGHT SEAL

CLEANING THE BURNER AND THE HEAT EXCHANGER

BURNER needs to be cleaned if ur getting orange flame instead of blue . CLEAN WITH BRUSH AND ALCOHOL

CLEAN HEAT EXCHANGER WITH DILUTED ACID esp if ur water is hard and high in calcium content and water flow in geyser is drastically reduced.

Budget 2019 What matters most

Too many promises and lots of ideas but how and when will budget ideas be implemented and more importantly how will it be funded is a big ?? because funding is depending on private partnership. Secondly this budget is filled with contradictory goals

The govt wants 90000 crores from RBI , is going to borrow more and substantially enough that it wants to borrow sovereign debt in foreign funds .

Too much populism and mismanagement can make India another Pakistan and Argentina is a big big risk when governments depend on external debt to finance deficits in the distant future.

Budget is very Inflationary ! u will pay more excise and government earns more cess of at least 40000 crores vide oil tax on petrol and diesel. Expect everything to face inflation or mehengai tax even if there is no or little change in normal taxes.

Huge push on reviving a property market with more deduction of 150000 but middle class is over saturated with having empty second and third flats that they are unable to sell .  Model tenancy law will be revolutionary if it can meander through the complex and archaic legal system and free up locked empty houses for use thus increasing supply of rentable property, making postponing a property purchase more lucrative.

There is a big push for govt to recapitalize psu banks 70000 crores is huge but will the npa ko evergreen karo, ji mantri ji, chalta hai and corruption culture of babus in banks change ? will politicians meddling in banks and creating massive NPAs stop ? Essar RCom Kingfisher and Jet Air , N Modi are salient examples of crony capitalism.

INDIRA Gandhi had nationalized banks . The PSU banks have become bankrupt thrice received bailouts to keep them afloat  since then, showing the desperation of Rulers /mantris to control the strings of the economy.

Farmers and psu banks are good candidates for permanent bailouts. How do i become a farmer or a psu staffer ??

The markets are crashing as Modi govt policy reminds it of the Indira Era.

Govt has a disinvestment target of 105000 crores and wants to increase public shareholding to 35% but govt holdings will include PSU and LIC holdings (what hypocrisy).

The govt spells out vide policy to small investors – dont invest in PSU cos as it will keep dis-investing while keeping control .. an unmitigated disastrous way of destroying taxpayer and investor wealth. Wonder who will invest when even UPA era disinvestment is in losses . Atal era disinvestment candidates like  ONGC etc will be in losses very soon the way the govts want to milk them.

Govt wants to lay the red carpet for foreign funds but fails to understand that the local small investor is suffering and bleeding .

Govt it seems, want to incentivize the rich to QUIT India and follow Gandhi bapus advise , as it increases taxes on the rich with added cess .

Gold purchases will fall as u pay 2.5 % more,  Excise / Cess on oil will make more problems for Automakers which are already a all time lows .

Tax of 20% on buyback is ridiculous especially when govt reintroduced LTCG .

This will make a huge impact on investor psyche especially because the policy is shifting towards Indira era policy.

Excise / Cess on oil will make more problems for Automakers which are already a all time lows .

 

 

 

 

 

Rbi cuts rates , markets down

Markets  know everything ..  After an initial pop the bank nifty and markets are down from day highs … A new RBI GOV who gave a rate cut at the worst possible time just before summer comes bringing along food inflation, has made pundits uncomfortable, that when data from govt body’s is very suspect , there is a leak of a draft stats report on poor job growth and there is deeper scrutiny at govts way of working and 2 resignations at govt data body and

there is an old song that i remember from such a situation