Thursday, December 29, 2016

प्रोपर्टी खरीदने से पहले रखें इन 10 बातों का ध्यान

अगर आप प्रॉपर्टी खरीदने का मन बना रहे हैं तो जाने ऐसी 10 बातें जिसके बाद आप कभी प्रॉपर्टी खरीदते वक्त धोखा नहीं खाएंगे


घर खरीदना हर किसी का सपना होता है। इस सपने को पूरा करने के लिए लोग अपने जीवनभर की कमाई लगा देते हैं। ऐसे में अगर आप कोई प्रॉपर्टी खरीदने का मन बना रहे हैं तो इससे पहले जागरण डॉट कॉम अपने पाठकों को ऐसी 10 बातें बता रहा है जिसे जानने के बाद कभी भी प्रॉपर्टी खरीदते वक्त धोखा नहीं खाएंगे।
जानिए 10 ऐसी जरूरी बातें-
जमीन की रजिस्ट्री जरूर मांगे
अगर आप घर खरीद रहे हैं तो बिल्डर और डेवलपर से सबसे पहले रजिस्ट्री मांगनी चाहिए। ऐसा कर आप यह जान पाएंगे कि जिस जमीन पर आपका मकान या फ्लैट बना है उसपर कोई कानूनी विवाद तो नहीं चल रहा है। बैंक सिर्फ उन्हीं जमीनों पर लोन देता है जिसपर किसी भी तरह का कोई विवाद नहीं है।
प्रोजेक्ट के अप्रूव्ड लेआउट मैप को देखें
किसी बिल्डर को किसी भी प्रोजेक्ट में कितने टावर, फ्लैट और मंजिल बनाने की मंजूरी मिली है यह बात अथॉरिटी की ओर से अप्रूव्ड लेआउट मैप को देखकर साफ पता चल जाती है। इसमें किसी फ्लैट या प्रोजेक्ट में इस्तेमाल होने वाली कुल जगह का स्पष्ट ब्यौरा होता है। ये सारी बातें कंपनी के ब्रॉशर में साफ नहीं हो पाती हैं।
लोकेशन और वास्तविक फ्लैट विजिट करें
ब्रॉशर में दिए गए फ्लैट के एरिया पर भरोसा नहीं करना चाहिए। जिस जगह प्रोजेक्ट बन रहा है वहां खुद जाकर विजिट करना जरूरी होता है। ऐसा करने से आप अपने फ्लैट में इस्तेमाल होने वाले रॉ मैटेरियल (कच्चे माल) को देख पाएंगे। साथ ही आपको आसपास की लोकेशन के बारे में भी जानकारी मिलेगी। जैसे घर से अस्पताल, स्कूल, बाजार, रेलवे स्टेशन, बस स्टैण्ड जैसी जगहों की दूरी कितनी है इत्यादि। केवल ब्रॉशर के भरोसे रहने से आप गलतफहमी के शिकार हो सकते हैं।
बिल्ट-अप एरिया, सुपर एरिया और कार्पेट एरिया को समझें
खरीदार कई बार फ्लैट में लिखे सुपर एरिया को अपने फ्लैट का साइज मानकर फ्लैट की बुकिंग कर देते हैं। जबकि असल फ्लैट इससे काफी कम होता है। ऐसे में ग्राहकों को बिल्ट-अप, सुपर और कार्पेट एरिया के सही मायने समझ लेने चाहिए। कार्पेट एरिया उस एरिया को कहते है जहां आप कार्पेट बिछा सकें। इस एरिया में फ्लैट की दीवारें शामिल नहीं होती हैं। यह फ्लैट के अंदर का खाली स्थान होता है। बिल्ट-अप एरिया में फ्लैट की दीवारों को लेकर मापा जाता है, यानि इसमें कार्पेट एरिया के साथ-साथ पिलर, दीवारें और बालकनी जैसी जगह शामिल होती हैं। वहीं सुपर एरिया उस एरिया को कहते हैं, जिसमें उस प्रोजेक्ट के अंदर कॉमन यूज की चीजें को शामिल किया जाता है जैसे जेनरेटर रूम, पार्क, जिम, स्वीमिंग पूल, लॉबी, टेनिस कोर्ट आदि। आमतौर पर सभी बिल्डर्स फ्लैट को सुपर एरिया के आधार पर बेचते हैं।
अपने पजेशन टाइम का रखें विशेष ध्यान
अधिकांश बिल्डर्स और डेवलपर प्रोजेक्ट के पजेशन टाइम में 6 महीने का ग्रेस पीरियड भी जोड़ देते हैं। ऐसे में किसी भी ग्राहक का पजेशन टाइम दो साल की जगह 30 महीने हो जाता है। पजेशन डेट से 6 महीने देरी से पजेशन देने के बाद डेवलपर्स इसको लेट प्रोजेक्ट की श्रेणी में नहीं डालते हैं। ऐसे में ग्राहक बिल्डर या डेवलपर्स से लेट पजेशन की पेनल्टी भी चार्ज नहीं कर पाते हैं।
पेनल्टी क्लॉज को जरूर पढ़ें
तय समय तक प्रोजेक्ट पर पजेशन न दे पाने पर डेवलपर्स ग्राहकों को पेनल्टी देने का प्रावधान रखते हैं। अधिकांश डेवलपर्स पजेशन तक ग्राहकों की ओर से भुगतान की जाने वाली किसी एक भी किश्त में देरी होने पर पनेल्टी न देने की शर्त रखते हैं। पूरे 2 साल के दौरान ग्राहकों के पास कई बार डिमांड ऑर्डर आते हैं। अगर ग्राहक किसी एक भी पेमेंट डेट से चूक जाता है तो डेवलपर्स पेनल्टी देने में तरह-तरह के बहाने बनाते हैं।
पेमेंट स्कीम को समझें
डेवलपर्स बड़े-बड़े ब्रैंड एंबेसडर और ईजी पेमेंट प्लान की मदद से ग्राहकों को आकर्षित करने कोशिश करते हैं। इनमें 10 फीसदी बुकिंग अमाउंट बाकी पजेशन पर, 12/24/42 महीनों के लिए ब्याज छूट, 20:80 स्कीम (बिना बैंक फंडिंग के), 20:80’ / ‘10:90’ / ‘8:92’ / ‘5:95’ जैसी स्कींम्स काफी लोकप्रिय हैं। इन सभी स्कीमों की अपनी-अपनी महत्ता होती है। इससे फ्लैट के बुकिंग रेट और प्रोजेक्ट की कीमत पर भी काफी असर पड़ता है। इसलिए ग्राहकों को प्रॉपर्टी खरीदने से पहले इन सभी बारीकियों को सही से समझकर अपने लिए उचित पेमेंट स्कीम का चयन करना चाहिए।
हिडन चार्जेज पर दे विशेष ध्यान
बुकिंग करते समय कई तरह के चार्जेज का जिक्र बुकिंग एजेंट नहीं करता है। हिडन चार्जेज में पार्किंग चार्ज, सोसाइटी चार्ज, पावर बैक-अप जैसे चार्जेज को शामिल किया जाता है। इन सभी चार्जेज के बारे में बुकिंग के समय पर ही डेवलपर से सवाल कर समझ लें।
डेवलपर की पिछली हिस्ट्री के बारे में करें पता
जिस डेवलपर या बिल्डर के साथ आप अपना फ्लैट बुक करने जा रहे हैं उसकी ओर से पहले दिए जा चुके प्रोजेक्ट्स को जरुर देखें। इससे आपको कंस्ट्रक्शन क्वॉलिटी, समय से पजेशन देना, बिल्डर का प्रदर्शन जैसी चीजों को समझने में मदद मिल जाती है।
सुनिश्चित करें कि एक्सक्लेशन फ्री हों फ्लैट के रेट
कई बार डेवलपर प्रोजेक्ट पर एक्सक्लेशन चार्जेज लगा देते हैं। जैसे सीमेंट, सरिया आदि कच्चे माल के दाम बढ़ने पर डेवलपर ग्राहकों के लिए फ्लैट की कीमत को बढ़ा देते हैं। ऐसे में ग्राहकों को बुकिंग के समय इस बात को स्पष्ट कर लेना चाहिए कि फ्लैट पर किसी भी तरह के एक्सक्लेशन चार्जेज नहीं हैं।

गोल्ड बॉण्ड में निवेश करने के होते हैं 10 बड़े फायदे

इस फेस्टिव सीजन गोल्ड में निवेश करना चाहते है तो गोल्ड बॉण्ड एक बेहतर विकल्प है। जानिए गोल्ड बॉण्ड में निवेश करने के क्या हैं 10 बड़े फायदें 

इस फेस्टिव सीजन गोल्ड में निवेश करना चाहते है तो गोल्ड बॉण्ड एक बेहतर विकल्प है। निवेश के लिए सोने के सिक्के, गोल्ड फंड, गोल्ड ईटीएफ, गहने आदि तमाम लोकप्रिय विकल्प हैं, लेकिन इस सब के बीच गोल्ड बॉन्ड सोने में निवेश करने का एक अच्छा ऑप्शन है। जानिए गोल्ड बॉण्ड में निवेश करने के क्या हैं 10 बड़े फायदें।
गोल्ड बॉण्ड में निवेश के फायदे
बेहतर रिटर्न: गोल्ड बॉण्ड में निवेश करने पर अच्छा ब्याज मिलता है। इसमें ब्याज सहित सोने की कीमतों में आई तेजी के अनुसार रिटर्न भी मिलता है। साथ ही आपको बता दें इसमें निवेश करने से डीमैट और ईटीएफ जैसे कोई शुल्क नहीं लगाए जाते हैं। गोल्ड बॉण्ड की ब्याज दर 2.75 फीसदी है। इस पर मिलने वाला ब्याज सोने के मौजूदा भाव के हिसाब से तय होता है।
निवेश के साथ बचत भी: सुरक्षा को मद्देनजर रखते हुए आप गोल्ड बॉण्ड को डिजिटल फॉर्म में सुरक्षित रख सकते हैं। दूसरी ओर आप इसे अपने घर या डीमेट एकाउंट में भी रख सकते हैं। इससे आपका लॉकर पर होने वाला खर्च भी बच जाएगा।
धोखाधड़ी की कोई चिंता नहीं: गोल्ड बॉण्ड में किसी तरह की धोखाधड़ी और अशुद्धता की संभावना नहीं होती है। गोल्ड बॉण्ड में मिलने वाला सोना शत प्रतिशत शुद्ध सोने की ही वैल्यु देता है।
कैपिटल गेन टैक्स की हो सकती है बचत: गोल्ड बॉण्ड की कीमतें सोने की कीमतों में अस्थिरता पर निर्भर करती है। सोने की कीमतों में गिरावट गोल्ड बॉण्ड पर नकारात्मक रिटर्न देता है। इस अस्थिरता को कम करने के लिए सरकार लंबी अवधि वाले गोल्ड बॉण्ड जारी कर रही है। इसमें निवेश की अवधि 8 वर्ष होती है, लेकिन आप 5 वर्ष के बाद भी अपने पैसे निकाल सकते हैं। पांच वर्ष के बाद पैसे निकालने पर कैपिटल गेन टैक्स भी नहीं लगाया जाता है।
गोल्ड बॉण्ड यानी सरकारी गारंटी: गोल्ड बॉण्ड भारत सरकार की ओर से दी गई सॉवरन गारंटी होती है। लेकिन इसका मतलब यह बिल्कुल नहीं है कि यह हमेशा सकारात्मक रिटर्न्स ही देगा।
बढ़वा सकते हैं गोल्ड बॉण्ड की मैच्योरिटी: गोल्ड बॉण्ड की अवधि मैच्योरिटी पीरियड के बाद तीन वर्ष के लिए और बढ़वाई जा सकती है। इसकी मदद से मैच्योरिटी के समय बाजार के नकारात्मक संकेतों से बचा जा सकता है।
गोल्ड बॉण्ड के गुणांक: गोल्ड बॉण्ड सोने के एक निश्चित वजन के आधार पर जारी किए जाते हैं। इसकी एक यूनिट एक ग्राम गोल्ड होती है। इसे एक ग्राम के गुणांक में ही लिया जा सकता है। आपको बता दें कि आप 500 ग्राम के अधिक गोल्ड बॉण्ड नहीं ले सकते हैं। यह कई गुणांक में उपलब्ध है, लेकिन इसको खरीदने के लिए एक तय सीमा है। आप न्यूनतम दो ग्राम और अधिकतम 500 ग्राम के गुणांक में खरीदारी कर सकते हैं। इसमें निवेश करने के लिए कम से कम 5000 से 6000 रुपए इंवेस्ट करना अनिवार्य है। इसकी न्यूनतम और अधिकतम सीमा एक साल हैं।
गोल्ड बॉण्ड को खरीदना है बेहद आसान: गोल्ड बॉण्ड को किसी भी एसबीआई ब्रांच, पोस्ट ऑफिस, स्टॉकहोल्डिंग कॉरपोरेशन और एनएसई व बीएसई आदि के माध्यम से खरीदा जा सकता है।
सेकेण्डरी मार्केट में गोल्ड बॉण्ड की ट्रेडिंग: गोल्ड बॉण्ड में न्यूनतम 5 वर्षों का लॉक इन पीरियड होता है। यदि आपको 5 वर्षों से पहले पैसों की जरूरत होती है तो आपको बता दें कि यह सेकेण्डरी मार्केट में लिस्टिड है। यानि कि आप जब चाहें किसी भी अन्य व्यक्ति को गोल्ड बॉण्ड सेकेण्डरी मार्केट के जरिए बेच सकते हैं। एनएसई और बीएसई बॉण्ड में ट्रेड करने की सुविधा देता है। आप अपना डीमेट गोल्ड बॉण्ड एनएसई के रजिस्टर्ड ब्रोकर्स के जरिए भी बेच सकते हैं। बॉण्ड की कीमतें बाजार पर निर्भर करती हैं। सेकेण्डरी मार्केट (एनएसई और बीएसई) के जरिए गोल्ड बॉण्ड खरीदा भी जा सकता है।
गोल्ड बॉण्ड के एवज में लोन: जरूरत पड़ने पर गोल्ड बॉण्ड के एवज में बैंक से लोन भी लिया जा सकता है। गोल्ड बॉण्ड पेपर को लोन के लिए कोलैटर्ल के रूप में भी इस्तेमाल किया जा सकता है। यह पोस्ट ऑफिस की नैश्नल सेविंग सर्टिफिकेट के जैसा होता है।

बैंक में फिक्स्ड डिपॉजिट कराने के फायदे और नुकसान

बैंक फिक्स्ड डिपॉजिट सबसे सुरक्षित निवेश विकल्प माना जाता है। इसमें निवेशक को तय अंतराल पर निश्चित रिटर्न मिलता है साथ ही बाजार के उतार-चढ़ाव का इस पर कोई असर नहीं पड़ता 


नई दिल्ली। बैंक फिक्स्ड डिपॉजिट सबसे सुरक्षित निवेश विकल्प माना जाता है। इसमें निवेशक को तय अंतराल पर निश्चित रिटर्न मिलता है साथ ही बाजार के उतार-चढ़ाव का इस पर कोई असर नहीं पड़ता। अधिकांश फाइनेंशियल एडवाइजर अपनी कुल बचत का एक हिस्साै एफडी में निवेश करने की सलाह देते हैं। लेकिन एक्सपर्ट की माने तो इन सब बातों के बावजूद भी फिक्स्ड डिपॉजिट के कुछ नुकसान हैं।
जानिए फिक्स्ड डिपॉजिट करवाने के फायदे और नुकसान एफडी करवाने के फायदे

किसी बैंक या पोस्ट ऑफिस में एफडी कराने की सबसे पहला फायदा यह होता है कि यह निवेश पूरी तरह से जोखिम रहित होता है। साथ ही यह निवेश किसी भी तरह से लिंक नहीं होती। एफडी की समय अवधि समाप्त होने के बाद निवेशक को पूरी राशि ब्याज सहित वापस मिल जाती है। ब्याज दर वरिष्ठ नागरिकों के लिए कुछ अधिक होती है। साथ ही बैंक भी समय-समय पर समीक्षा कर बाजार के अनुरूप फिक्स्ड डिपॉजिट की दर को तय करते हैं। तमाम बैंकों की ओर से दी जाने वाली दर में मामूली सा अंतर होता है। आपको बता दें कि कई मामलों में बैंक अधिक निवेश आकर्षित करने के उद्देश्य से ग्राहकों को फिक्स्ड डिपॉजिट पर ऊंची दर का ऑफर देते हैं।

एफडी करवाने के नुकसान

बैंक एफडी पर मिलने वाला ब्याज महंगाई दर के बराबर ही होता है और कई बार इस दर से कम भी रह जाता है। वर्ष 2012-2014 के दौरान भारत की औसत महंगाई दर 9.76 फीसदी रही है। एक्सपर्ट इंवेस्टमेंट ऑप्शन पर रिटर्न को जोड़ते समय उपभोक्ता महंगाई की औसत दर 8 फीसदी के बराबर मानते हैं। ऐसे में बैंक एफडी पर यदि निवेशक को 8 से 8.5 फीसदी का ब्याज मिलता है तो निवेशक मुश्किल से ही महंगाई दर को पछाड़ पाने में सफल हो पाएगा। इस तरह निवेशक को इंवेस्टमेंट पर मिलने वाला रिटर्न शून्य हो जाता है।
आपको बता दें कि बैंक एफडी पर मिलने वाला रिटर्न कर योग्य होता है। आमतौर पर लंबी अवधि के लिए किया जाने वाला निवेश टैक्स फ्री होता है। लेकिन बैंक एफडी पर मिलने वाला ब्याज मौजूदा स्लैब में ही करयोग्य होता है। इस तरह मिलने वाला शुद्ध रिटर्न और घट जाता है। ऐसे में महंगाई की दर से कम रिटर्न और मिलने वाले रिटर्न का भी करयोग्य होने के कारण शुद्ध कमाई का घट जाना बैंक एफडी जैसे निवेश को बेहतर नहीं बनाते हैं।
एक्सपर्ट के मुताबिक कम उम्र में निवेश शुरू करने से लंबी अवधि के लिए इक्विटी म्युचुअल फंड में निवेश करना एक बेहतरीन विकल्प है। इसके अलावा यदि उम्र या किसी अन्य कारण निवेशक की जोखिम लेने की क्षमता नहीं है तो एफडी जैसे विकल्पों का चयन नहीं करना चाहिए।

Thursday, November 17, 2016

Latest Update on Currency Note Ban: 4 Lakh Crore Deposited

Latest Update on Currency Note Ban: 2 Lakh Crore Deposited
Currency ban is now been implemented and now it’s time to exchange Rs. 500 & 1000 notes at nearest bank or post office. From 11 November onwards, you can start withdrawing money from the ATM. Here’s the update on the happenings across India post the ban implementation:

13/11/2016: New Rs. 500 notes dispatched: First consignment of the new Rs. 500 note has been dispatched to RBI, as per the statement by Currency Note Press (CNP).

12/11/2016: Over 2 Lakh Crore Deposited: People have deposited cash worth Rs. 47, 868 Crore between 10 & 11 Nov and few hours of 12 Nov. If all banks are included then the estimated cash deposit would be around Rs. 2 Lakh Crore.

12/11/2016: Tremendous increase in deposits of Jan Dhan Account: Launched in August 2014 most of the Jan Dhan Accounts opened had zero to no balance. However post the currency note ban, there are reports that there is a tremendous increase in the deposits of these accounts. The accounts which earlier had just Rs. 1 or 2, now have nearly Rs. 49, 000 each. And the number is expected to rise in the coming days.

12/11/2016: Speedy efforts are made to re-calibrate the ATM machine for the new Rs. 2000 note.

12/11/2016: Eye on everyone: Government will be keeping watch on every financial transaction especially jewelers, wholesalers, bullion traders.

Banned notes acceptable till 11 Nov, 2016 14 Nov only: Government announced that consumers can use Rs. 500 and 1000 notes at government hospitals, milk booths, petrol pumps, crematories and burial ground. These currencies can also be used to pay utility bills such as electricity, landline bills of central and state government only. Individuals can also pay various fees taxes, penalties etc. to central and state government through these demonetised notes. The notes would also be extended for making payments for buying cooking gas cylinder, metro rail tickets, highway and road toll, railway catering, electricity and water bills, buying medicines on doctor’s prescription. But remember the earlier last date for acceptance of these notes was 11 Nov but it has now been revised to 14 Nov.

Over 8, 800 cash carrying vans ensured that ATMs do not run out of cash. Over 35, 000 people involved in cash carrying vans worked effortlessly to make this success. It is estimated that the shortage of Rs. 100 note will take another 10 days to normalize. They are working round the clock to best meet the demand.

Support for demonetization: International monetary fund has supported the move. SIT team which manages Black Money has welcomed the government’s decision of demonetizing the notes.

New currency notes are out: Rs. 500 & Rs. 2000 notes are now back in the business. People are liking the design especially the new Rs. 2000 note.

Raids by IT department: Income tax department conducted raids on various jewelers, foreign exchangers and hawala operators who tried to trick the system. In exchange of old Rs. 500 & 1000 currency notes. These people were taking demonetised notes on discount. Or selling gold at prices higher than the market price. Rs. 50, 000 per 10gm was the price they were selling yellow metal. These shameless people were also seen selling foreign currency notes on exchange of the banned notes.

eCommerce companies: Will accept digital payments (cards or mobile wallets) for customers who’d opted for cash on delivery before 08 Nov, 2016. And CoD payment method has been scrapped by them. Few companies who have decided to offer new payment option in order to prevent business loss are Flipkart, Snapdeal, Box8, BigBasket, Myntra, Jabong, Grofers and many others. Few of the companies have named this payment mode as Wallet on Delivery or Pay Online after Delivery.

IT department notice: Income tax department will send notices to individuals who deposit large sum of cash in their bank account. The notice will ask the person to provide explanation to the source of such big amount. And strict action would be taken against suspicious individuals.

Details of demonetization of currency notes.



Large queues everywhere: Even before the banks opened their doors, people had started making queues to get the devalued notes exchanged. In famous markets such as Crawford market or Zaveri bazaar in Mumbai. As expected, daily wage workers and labourers were seen in largest number to get lower denomination notes i.e. Rs. 100 & 50. Everyone coming to bank had ID proof handy.

ATMs will be open now: ATMs will open from 11 Nov, 2016 onwards. This will ease burden on the banks.



Extended banking working hours: Most of the Indian banks such as ICICI, SBI, HDFC, Axis and others have sent notifications to their customers stating that banks will be open even on Saturday and Sunday. This has bought big relief to everyone as it will help millions of people to get exchange done in a hassle free manner and bring their life to normal. Banks have tightened their systems, people and they will serve best to the people.

Check out the positive impact on Indian economy because of currency ban.

Taxis and Autorickshaws: On 09 Nov 2016, autorickshaws were off the road due to non-availability of lower denomination notes with the consumers.

Mobile operators announcement: All mobile network service providers have notified their customers that they won’t be accepting Rs. 500 & 1000 notes.

Check out the effects of currency note ban on common man, industry and others.

UP election: Elections in the biggest state in India will see a huge impact especially on the expenditure related to the election which happens mostly in cash.

Surprise check by RBI: Reserve Bank of India inspectors may make surprise visits to bank branches to check any illegal alterations in the bank’s cash registers.

Daily update by banks: Every bank in India will have to submit daily count of Rs. 500 & 1000 currency notes.

As per today 17-Nov-2016 Total Money Deposited in bank 4 lakh Cr. approximately  and will more will be deposited in till Dec 30, 2016.

Let see what happened in future

============================Thank you=======================

Currency Note Ban Impact: Benefits to Indian Economy, People, Investments

Historical reform in India which was announced on 08th Nov, 2016 of banning the Rs. 500 & 1000 note is being welcomed across the country. The revolutionary move was appreciated even by the World Bank and many leaders across the world and Indian corporate big wigs.

Although Indians are currently facing difficulty in exchanging the banned Rs. 500 & 1000 notes or withdrawing/depositing cash from the ATM/bank; the problems won’t last long. Banks and RBI are taking every possible measure to help people by exchanging demonetized currencies. They are also making cash available in sufficient quantity in the ATMs; so that people do not face problems in buying day to day utility things such as grocery, vegetables etc.

But do you know that this move is going to boost Indian economy in the long run? Let’s understand:

This demonetization decision has three main objectives:

Unearth stashed cash
Collect taxes from this cash
Stop black money flow
Black money meaning: It means money which has not been declared while paying income tax or in simple layman language – tax is not paid for the money earned/kept hidden.

In this article – we’ll talk about the positive effects of currency ban on Indian economy. After all the decision was taken to curb black money which is paralyzing the growth of economy.

More tax collection: Since government has increased the tax from these evaders, they will have to pay larger sum. More money collected with the government will in turn benefit Indian economy i.e. GDP will increase.

Nation Building: Collection of higher taxes will eventually benefit Indian economy as large amount of money will flow into the system which would be used for the nation’s development such as infrastructure, roads, transportation, and many others. And this means more GDP growth. More the development projects in the country straight away means requirement of manpower. And this will give jobs to many people. Most importantly the money can be used for the welfare of the farmers.

Banking Boost: More people will now open bank account, which would increase deposits in the banks. Since more people will use banking for money transactions, dependency on cash transactions will reduce and transparency will increase.

Increase in digital payments: Apart from bank account, more people will start using debit or credit card or digital wallet. Ultimately this will benefit government’s digital India initiative. Basically this move will bring higher level of transparency in transactions. Currently major chunk of transactions in India happen through cash. Digital wallet companies will naturally get investment boost due to increase in using their services.

Lowered interest rate & inflation: Loan interest rate will fall as banks will have more money to invest due to increase in deposits. This will lead to increased investments by foreign companies will lead to price control of essential commodity and thereby inflation will reduce.



Employment will increase: More demand for houses and increase in nation developmental projects means more demand for labors and other skilled manpower. And this will give boost to the employment and unemployment will eventually reduce. Employment increase will give jobs to poor especially those who are unskilled. It will eventually meet the objective of Sabke Saath Sabka Vikas.

Increase in gold investment: Demand for gold will increase as more and more people will start investing in gold as an alternative to cash deposit in the bank. It will give rise to deposits through gold monetization scheme. So India will rely less on gold import as gold deposited through the scheme will be used to meet India’s gold demand. This will help in strengthening of Indian economy because importing gold is very expensive. And India being one of the top most consumer of gold, it will certainly benefit the country.

Drop in real estate prices: It will fall as black money which was given in cash earlier will now become difficult to arrange due to scrapping of high denomination notes. And also fear from this strict decision will stop agents to demand money in cash. This way buying house will be less expensive as its demand will increase.

Get key updates on currency note ban.

Corruption or bribery will go down: Cash or physical gifts was the way to bribe an individual or business. After such a bold decision, many will fear taking bribes. India’s ranking in corruption index will improve. We’re currently rated very high in corruption index.



Ease of doing business: Corruption has always kept foreign investors to stay away from investing in India. But with this decision, India’s ranking on global scale in terms of investments and ease of doing business will improve as corruption will drastically reduce.

Control on terrorism, smuggling etc: All such activities will take a hit as they completely rely on cash funding which is done by counterfeiting the notes especially Rs. 500 & 1000. This is highly required in the nation’s interest as it kills economy.

Worthless paper: Even if someone wishes to burn or torn black money, it will ultimately benefit India by the same amount. Because that money can’t be used for any unethical purpose such as bribing, buying expensive items. Or even if someone still wishes to keep these old currency notes – it will be a piece of worthless paper.



Disadvantages or problems will be in terms of arranging cash for some weeks post the ban. Although standing in queue for few minutes or hours outside bank or ATM is little painful but still in the long term it will benefit India as mentioned above. People are facing problems in buying day to day necessary things such as grocery or other necessity items. Poor people especially daily wage workers will suffer initially as they don’t have easy access to banking nor they have bank account. But RBI & banks are working at phenomenal speed and are taking untiring efforts to ease people’s pain and make them notes available as early as possible.

=====================Thank you========================================

Friday, November 11, 2016

Plastic Money – Pros and Cons


Convenience of Plastic Money

Technology has changed the way we deal with money giving us more convenience and easy access to funds from anywhere. It all started with a simple credit card that allowed you to make purchases today and pay later.Further, technological advancements lead to a new trend where most banks gave you one ATM card or debit card which can be used for withdrawing money as well as for making purchases or payments – offline as well as online.
However, plastic money has its share of issues that one must be careful about. Plastic money definitely provides an alternative in some cases and compliments cash as a medium.

Peter, a young MBA graduate joins a large software firm as a Business Development Executive. His job involves frequent travelling and meeting with leads and clients to develop business for the organization. This requires him to spend a lot on travel, food, stay, etc and keep track of his expenses.
Since he may require a lot of cash for inter-city travel which can span a few days or weeks he preferred to use his debit card or credit cards.
For instance he could use his card to pay for hotel stays where cards were commonly accepted. Similarly for travel he could book tickets online, while for food he had to rely on cash.
However, with his debit card he could withdraw cash whenever required which made his life easier. Even if he forgets to carry cash he can use his debit card to withdraw funds whether required.

Advantages of Plastic Money

There are several advantages of plastic money as seen in the above illustration. The advantages include
  1. Eliminates the need for carrying huge cash: This eliminates the need for carrying huge load of cash which is risky and inconvenient too.
  2. Risk of Loss or Theft minimized: In case of cash there is a high risk of losing cash and a chance of cash getting stolen. However, in case of debit/credit card you can report the matter to the bank and block the card to avoid misuse.
  3. Anytime/Anywhere Access Using cards you have the unique advantage and convenience of using it anywhere in the country or even abroad.
  4. Credit Facility: In case of credit card you have the option of buying on credit or paying later. Although the charges are high, it helps you in case of emergencies and contingencies.
  5. Online Payments: You can use cards for online payments, fund transfers and various other transactions.
These are the key benefits which I can easily remember, but there could be various other good features too that are specific to certain cards.

Disadvantages of Plastic Money

So far I’ve been sounding like a nice, pleasant Bank Executive who is convincing you to open an account. Please note a few points before we look at the disadvantages of plastic money
  • Cards/plastic money is not a complete replacement for cash
  • Use of cards can also be risky in some cases
Note: I’m not saying that cards are not useful because of these drawbacks. The disadvantages are just to make you aware of any risks, threats, etc so that you can use it carefully.

Some of the drawbacks or risk related to cards are

1. Non-Acceptance at Small Retail Outlets
Unless you are a person who shops only in supermarkets and hypermarkets you will be forced to use cash
2. Cannot be used for all daily needs
You cannot pay your milkman, servant, paper wala (newspaper guy), etc by card.
3. Loss & Misuse
Once a card is lost you have to immediately report it and get the card blocked to avoid misuse. Sometimes when you are not aware that you lost the card….the chances of misuse is higher.
Mr. Dev, who was on a vacation returned home after 10 days. He was not aware of his card (which he lost during the trip). One fine day when he checked his bank account he found that Rs.75,000 worth of purchases have been made on his credit card. Too late. But this case is a little old.
Today lot of checks and balances have been put in place. For instance for debit card the customer has to key in the PIN for offline purchases, and additional passwords/authentication for online transactions. Even then taking precautions is absolutely necessary.
4. Low Value Transactions
As discussed above already there are cases where small and medium sized retailers don’t accept cards for low value transactions (say less than Rs.200 or other criteria). You may have noticed this even in case of outlets like petrol bunks or restaurants.
5. Service Charges
In some cases the outlets charge additional service charges for cards. So this can be another burden on your pocket.
6. Damage to Card
Sometimes the card’s magnetic strip gets damaged or scratches or cuts can render the card unusable. So keeping it safe and secure is very important.
7. Carrying or Keeping the Card
Keeping the card and cash in the wallet together is like “inviting trouble”. This is the way everyone (including me) used to carry cash and cards. But this means once you lose your wallet you lose everything.
So here the card doesn’t come to your rescue after losing cash. The best practice is to keep cash and cards separately so that if you lose one you have the other to bank upon.
By the way, nowadays I don’t carry cards in my wallet. Its mostly in the bag or sometimes in a different pocket. You can try this or other methods but ensure that you don’t keep everything in one place and lose it all.
Now that we have a clear idea of some of the drawbacks of credit and debit cards lets also look at some key points on how to strike a balance between use of cash, cards and control your spending habits.
8. Spending Habits & Other Tips
Whether you use cash or cards, having a control on your spending is very important. A few pointers would be worth noting.
9. Impulsive Purchases
Don’t yield to impulsive purchases. Try to see what real benefit or value are you getting from the purchase. If you can’t live without it you can postpone or keep the spending on hold.
10. Peer Pressure
Its okay to spend some money on entertainment, outing, fine dining, etc. once in a while (say once or twice a month).
But if you do it every week on instance of your friend, colleague, etc you will have not savings every month end. Your future financial planning is out of question if you live from pay cheque to pay cheque.
So its time to become smart and avoid unnecessary wasteful expenditure. Sometimes you may have to attend a few parties, dinner/lunch activities, etc but prioritize and attend only the ones which are important and add value to you. For others you can say sorry and avoid or try to finish it over a simple coffee.
11. Overuse of Cards
I find that people who are finding cards as a convenient medium try to use it everywhere – left, right and center. Further, they have 3-4 cards which are used one after the other at different places. I would advice them to have fewer transactions so that it is easier to keep a check on the transactions every month and easier to pay the bill as well.
12. Special Offers, Discounts
Some people have this fancy and think that they are smart when they get special discounts on cards at retail outlets.
Ha ha ha ha…… What a joke! Do you think the card company and the retail chains are so kind enough to serve you at a discount. They want you to loosen your purse and spend more so that they can laugh all the way to their bank.
13. Debt Trap
Overuse of credit cards and rolling over your balance is the shortest route to bankruptcy. Remember that you have to pay your credit card in full. If you know what this means in letter and spirit you will be careful while spending on your credit card. The interest rate on credit card roll over is as high as 3-4% every month which translates to 36%-48% every year.
14. Cash Management (Running to ATM often)
Most people particularly those who started their careers in the last 3-4 years have been more used to cards than cash. They don’t carry much cash and don’t keep cash at home too.
This is absolutely disastrous. When someone at home has a medical emergency or has to buy groceries or do some major repairs cash in hand is absolutely necessary. I’ve seen people who often run to ATM when they want to purchase some groceries.
Surprisingly some people don’t even keep Rs.1000 at home when they actually earn more than Rs.50,000 per month. This is just over dependence on cards, which is foolish, because you still need cash for most of your expenses.

Back up plan in case of Loss or Damage to Card

In case of loss or damage to card (making it unusable) you have to apply for issue of a new card. The new card can take a week or even more to reach you. Till then you need to manage with cash or rely on other debit cards. So two things to do to have a sound back up plan
  • One is to have sufficient cash at home to handle 1-2 months expenses
  • Two is to have two or more debit cards (separate bank accounts) so that you are not dependent on one source alone
I think talking about cash or cards may sound like a trivial subject, but remember that these precautions discussed above will help you during emergencies and help avoid or eliminate many problems that people face-not because of plastic money but due to lack of discipline and poor organization skills. So use cash and plastic money wisely to have complete peace of mind.

Thank you 
Gajanand


Thursday, November 10, 2016

Here are the 5 reasons Trump is going to win:Is It Possible for Trump To Be a Good President

Friends:
I am sorry to be the bearer of bad news, but I gave it to you straight last summer when I told you that Donald Trump would be the Republican nominee for president. And now I have even more awful, depressing news for you: Donald J. Trump is going to win in November. This wretched, ignorant, dangerous part-time clown and full time sociopath is going to be our next president. President Trump. Go ahead and say the words, ‘cause you’ll be saying them for the next four years: “PRESIDENT TRUMP.”
Never in my life have I wanted to be proven wrong more than I do right now.
I can see what you’re doing right now. You’re shaking your head wildly – “No, Mike, this won’t happen!” Unfortunately, you are living in a bubble that comes with an adjoining echo chamber where you and your friends are convinced the American people are not going to elect an idiot for president. You alternate between being appalled at him and laughing at him because of his latest crazy comment or his embarrassingly narcissistic stance on everything because everything is about him. And then you listen to Hillary and you behold our very first female president, someone the world respects, someone who is whip-smart and cares about kids, who will continue the Obama legacy because that is what the American people clearly want! Yes! Four more years of this!
You need to exit that bubble right now. You need to stop living in denial and face the truth which you know deep down is very, very real. Trying to soothe yourself with the facts – “77% of the electorate are women, people of color, young adults under 35 and Trump cant win a majority of any of them!” – or logic – “people aren’t going to vote for a buffoon or against their own best interests!” – is your brain’s way of trying to protect you from trauma. Like when you hear a loud noise on the street and you think, “oh, a tire just blew out,” or, “wow, who’s playing with firecrackers?” because you don’t want to think you just heard someone being shot with a gun. It’s the same reason why all the initial news and eyewitness reports on 9/11 said “a small plane accidentally flew into the World Trade Center.” We want to – we need to – hope for the best because, frankly, life is already a shit show and it’s hard enough struggling to get by from paycheck to paycheck. We can’t handle much more bad news. So our mental state goes to default when something scary is actually, truly happening. The first people plowed down by the truck in Nice spent their final moments on earth waving at the driver whom they thought had simply lost control of his truck, trying to tell him that he jumped the curb: “Watch out!,” they shouted. “There are people on the sidewalk!”
Well, folks, this isn’t an accident. It is happening. And if you believe Hillary Clinton is going to beat Trump with facts and smarts and logic, then you obviously missed the past year of 56 primaries and caucuses where 16 Republican candidates tried that and every kitchen sink they could throw at Trump and nothing could stop his juggernaut. As of today, as things stand now, I believe this is going to happen – and in order to deal with it, I need you first to acknowledge it, and then maybe, just maybe, we can find a way out of the mess we’re in.
Don’t get me wrong. I have great hope for the country I live in. Things are better. The left has won the cultural wars. Gays and lesbians can get married. A majority of Americans now take the liberal position on just about every polling question posed to them: Equal pay for women – check. Abortion should be legal – check. Stronger environmental laws – check. More gun control – check. Legalize marijuana – check. A huge shift has taken place – just ask the socialist who won 22 states this year. And there is no doubt in my mind that if people could vote from their couch at home on their X-box or PlayStation, Hillary would win in a landslide.
But that is not how it works in America. People have to leave the house and get in line to vote. And if they live in poor, Black or Hispanic neighborhoods, they not only have a longer line to wait in, everything is being done to literally stop them from casting a ballot. So in most elections it’s hard to get even 50% to turn out to vote. And therein lies the problem for November – who is going to have the most motivated, most inspired voters show up to vote? You know the answer to this question. Who’s the candidate with the most rabid supporters? Whose crazed fans are going to be up at 5 AM on Election Day, kicking ass all day long, all the way until the last polling place has closed, making sure every Tom, Dick and Harry (and Bob and Joe and Billy Bob and Billy Joe and Billy Bob Joe) has cast his ballot?  That’s right. That’s the high level of danger we’re in. And don’t fool yourself — no amount of compelling Hillary TV ads, or outfacting him in the debates or Libertarians siphoning votes away from Trump is going to stop his mojo.
Here are the 5 reasons Trump is going to win:

1-     Midwest Math, or Welcome to Our Rust Belt Brexit.  I believe Trump is going to focus much of his attention on the four blue states in the rustbelt of the upper Great Lakes – Michigan, Ohio, Pennsylvania and Wisconsin. Four traditionally Democratic states – but each of them have elected a Republican governor since 2010 (only Pennsylvania has now finally elected a Democrat). In the Michigan primary in March, more Michiganders came out to vote for the Republicans (1.32 million) that the Democrats (1.19 million). Trump is ahead of Hillary in the latest polls in Pennsylvania and tied with her in Ohio. Tied? How can the race be this close after everything Trump has said and done? Well maybe it’s because he’s said (correctly) that the Clintons’ support of NAFTA helped to destroy the industrial states of the Upper Midwest. Trump is going to hammer Clinton on this and her support of TPP and other trade policies that have royally screwed the people of these four states. When Trump stood in the shadow of a Ford Motor factory during the Michigan primary, he threatened the corporation that if they did indeed go ahead with their planned closure of that factory and move it to Mexico, he would slap a 35% tariff on any Mexican-built cars shipped back to the United States. It was sweet, sweet music to the ears of the working class of Michigan, and when he tossed in his threat to Apple that he would force them to stop making their iPhones in China and build them here in America, well, hearts swooned and Trump walked away with a big victory that should have gone to the governor next-door, John Kasich.
From Green Bay to Pittsburgh, this, my friends, is the middle of England – broken, depressed, struggling, the smokestacks strewn across the countryside with the carcass of what we use to call the Middle Class. Angry, embittered working (and nonworking) people who were lied to by the trickle-down of Reagan and abandoned by Democrats who still try to talk a good line but are really just looking forward to rub one out with a lobbyist from Goldman Sachs who’ll write them nice big check before leaving the room. What happened in the UK with Brexit is going to happen here. Elmer Gantry shows up looking like Boris Johnson and just says whatever shit he can make up to convince the masses that this is their chance! To stick to ALL of them, all who wrecked their American Dream! And now The Outsider, Donald Trump, has arrived to clean house! You don’t have to agree with him! You don’t even have to like him! He is your personal Molotov cocktail to throw right into the center of the bastards who did this to you! SEND A MESSAGE! TRUMP IS YOUR MESSENGER!
And this is where the math comes in. In 2012, Mitt Romney lost by 64 electoral votes. Add up the electoral votes cast by Michigan, Ohio, Pennsylvania and Wisconsin. It’s 64. All Trump needs to do to win is to carry, as he’s expected to do, the swath of traditional red states from Idaho to Georgia (states that’ll never vote for Hillary Clinton), and then he just needs these four rust belt states. He doesn’t need Florida. He doesn’t need Colorado or Virginia. Just Michigan, Ohio, Pennsylvania and Wisconsin. And that will put him over the top. This is how it will happen in November.


2-     The Last Stand of the Angry White Man. Our male-dominated, 240-year run of the USA is coming to an end. A woman is about to take over! How did this happen?! On our watch! There were warning signs, but we ignored them. Nixon, the gender traitor, imposing Title IX on us, the rule that said girls in school should get an equal chance at playing sports. Then they let them fly commercial jets. Before we knew it, Beyoncé stormed on the field at this year’s Super Bowl (our game!) with an army of Black Women, fists raised, declaring that our domination was hereby terminated! Oh, the humanity!
That’s a small peek into the mind of the Endangered White Male. There is a sense that the power has slipped out of their hands, that their way of doing things is no longer how things are done. This monster, the “Feminazi,”the thing that as Trump says, “bleeds through her eyes or wherever she bleeds,” has conquered us — and now, after having had to endure eight years of a black man telling us what to do, we’re supposed to just sit back and take eight years of a woman bossing us around? After that it’ll be eight years of the gays in the White House! Then the transgenders! You can see where this is going. By then animals will have been granted human rights and a fuckin’ hamster is going to be running the country. This has to stop!
3– The Hillary Problem. Can we speak honestly, just among ourselves? And before we do, let me state, I actually like Hillary – a lot – and I think she has been given a bad rap she doesn’t deserve. But her vote for the Iraq War made me promise her that I would never vote for her again. To date, I haven’t broken that promise. For the sake of preventing a proto-fascist from becoming our commander-in-chief, I’m breaking that promise. I sadly believe Clinton will find a way to get us in some kind of military action. She’s a hawk, to the right of Obama. But Trump’s psycho finger will be on The Button, and that is that. Done and done.
3- Let’s face it: Our biggest problem here isn’t Trump – it’s Hillary. She is hugely unpopular — nearly 70% of all voters think she is untrustworthy and dishonest. She represents the old way of politics, not really believing in anything other than what can get you elected. That’s why she fights against gays getting married one moment, and the next she’s officiating a gay marriage. Young women are among her biggest detractors, which has to hurt considering it’s the sacrifices and the battles that Hillary and other women of her generation endured so that this younger generation would never have to be told by the Barbara Bushes of the world that they should just shut up and go bake some cookies. But the kids don’t like her, and not a day goes by that a millennial doesn’t tell me they aren’t voting for her. No Democrat, and certainly no independent, is waking up on November 8th excited to run out and vote for Hillary the way they did the day Obama became president or when Bernie was on the primary ballot. The enthusiasm just isn’t there. And because this election is going to come down to just one thing — who drags the most people out of the house and gets them to the polls — Trump right now is in the catbird seat.
4-     The Depressed Sanders Vote. Stop fretting about Bernie’s supporters not voting for Clinton – we’re voting for Clinton! The polls already show that more Sanders voters will vote for Hillary this year than the number of Hillary primary voters in ’08 who then voted for Obama. This is not the problem. The fire alarm that should be going off is that while the average Bernie backer will drag him/herself to the polls that day to somewhat reluctantly vote for Hillary, it will be what’s called a “depressed vote” – meaning the voter doesn’t bring five people to vote with her. He doesn’t volunteer 10 hours in the month leading up to the election. She never talks in an excited voice when asked why she’s voting for Hillary. A depressed voter. Because, when you’re young, you have zero tolerance for phonies and BS. Returning to the Clinton/Bush era for them is like suddenly having to pay for music, or using MySpace or carrying around one of those big-ass portable phones. They’re not going to vote for Trump; some will vote third party, but many will just stay home. Hillary Clinton is going to have to do something to give them a reason to support her  — and picking a moderate, bland-o, middle of the road old white guy as her running mate is not the kind of edgy move that tells millenials that their vote is important to Hillary. Having two women on the ticket – that was an exciting idea. But then Hillary got scared and has decided to play it safe. This is just one example of how she is killing the youth vote.
5-     The Jesse Ventura Effect. Finally, do not discount the electorate’s ability to be mischievous or underestimate how any millions fancy themselves as closet anarchists once they draw the curtain and are all alone in the voting booth. It’s one of the few places left in society where there are no security cameras, no listening devices, no spouses, no kids, no boss, no cops, there’s not even a friggin’ time limit. You can take as long as you need in there and no one can make you do anything. You can push the button and vote a straight party line, or you can write in Mickey Mouse and Donald Duck. There are no rules. And because of that, and the anger that so many have toward a broken political system, millions are going to vote for Trump not because they agree with him, not because they like his bigotry or ego, but just because they can. Just because it will upset the apple cart and make mommy and daddy mad. And in the same way like when you’re standing on the edge of Niagara Falls and your mind wonders for a moment what would that feel like to go over that thing, a lot of people are going to love being in the position of puppetmaster and plunking down for Trump just to see what that might look like. Remember back in the ‘90s when the people of Minnesota elected a professional wrestler as their governor? They didn’t do this because they’re stupid or thought that Jesse Ventura was some sort of statesman or political intellectual. They did so just because they could. Minnesota is one of the smartest states in the country. It is also filled with people who have a dark sense of humor — and voting for Ventura was their version of a good practical joke on a sick political system. This is going to happen again with Trump.

Coming back to the hotel after appearing on Bill Maher’s Republican Convention special this week on HBO, a man stopped me. “Mike,” he said, “we have to vote for Trump. We HAVE to shake things up.” That was it. That was enough for him. To “shake things up.” President Trump would indeed do just that, and a good chunk of the electorate would like to sit in the bleachers and watch that reality show.


I am one of millions of Republicans who voted for Hillary Clinton because much of what I heard Donald J. Trump say on the campaign trail was nonsensical as well as hurtful to many Americans. But I take some comfort in thinking, while he will have to overcome many hurdles to be a good president, he can avoid being a bad president for two reasons.
First, he would not have gotten this far — he is the first non-politician to be elected president since Dwight Eisenhower — if he were lacking in intelligence.
Second, he very likely knows what the rest of us know: Most of the things he promised to do in order to get elected make no sense. And for that reason alone he may not do them. There is also the fact that even a Republican Congress may very well resist his policies, by, for instance, refusing to fund construction of the proposed wall bordering Mexico
Lets start with Mr. Trump’s trade policy. He may not negotiate new trade agreements as president, but it is highly unlikely that he will back out of existing agreements. He probably knows enough economic history to want to avoid the disastrous protectionism of the 1930s that prolonged the Great Depression and doomed the Republican Party to oblivion for two decades. China, Mexico and the Middle East are places where American businessmen, including Mr. Trump himself, make money. He knows, as just about every economist knows, that global trade creates far more jobs than it destroys, and that growing the middle class while cutting off trade is impossible.
Same for immigration. Mr. Trump pandered to nativist instincts, but he knows, as most American businessmen know, that immigration fuels our economy. The United States is the richest country in the world in large part because immigrants, including Mr. Trump’s own grandfather, came here to build businesses and work for businesses, including those owned by Mr. Trump himself. Indeed his wife, our future First Lady, is herself a recent immigrant.
As for foreign policy, Mr. Trump has already rejected the interventionist agenda of spreading “American values.” That was one of the few areas where his campaign positions made sense. He will hopefully not get the United States involved in new quagmires that cost money and lives. His willingness to work with important allies — such as NATO and Israel — has yet to be tested, and his confrontational talk is not encouraging. But he has also spoken of getting America’s allies to share more of the burden of global security. In order to do that he will have to work with them, just as any businessman would work with partners to get the job done.
In order to stay out of trouble in the Middle East and much of Asia, he will also have to be far more accommodating, and respectful, of the Muslim world than he has been on the campaign trail. Discerning between a vast majority of Muslims who want to live in peace, and a small minority who support extremism, is the work of diplomats, generals and presidents, even if opportunistic politicians can hurl bigoted insults at Muslims on the campaign trail.
The last good news from a Trump presidency is that it marks the decline of “religious conservatism” in American politics, which has done much damage to the Republican Party among well-educated voters, particularly women. Not only did Mr. Trump soundly defeat the hero of religious conservatives, Ted Cruz, at the polls; he also does not personally believe, or at least he certainly does not live by, religious conservatives’ agenda.
The fact that religious conservatives backed Mr. Trump in such large numbers shows how desperate they are. Many voters — including myself — attend church regularly but have no interest in using government to deny civil rights to gays and lesbians, control women’s health care choices, or tell people where to go to the bathroom. Aspiring bathroom police hoping for jobs in the Trump administration will be disappointed; he has already said that people can use whatever bathroom they please in the Trump Tower.
Many of us who voted against Mr. Trump because of what he said during the campaign — and his appeal to voters who have a very different vision for our country than we do — will have to wait and see. Our hope is that he will run the country in the practical, if far from perfect, manner that he has run his businesses. (He will certainly need to have a better relationship with the nation’s creditors than he has had with his own.)
We also hope that he will not use government to antagonize and discriminate against the very people, including Latinos, with whom he has made money for so many years. We hope that if anyone has been conned by Mr. Trump, it is the people who deserved to be conned, because their own agenda is so antithetical to the national interest.
Mr. Trump knows that America is already a great country and that, for better or worse, we will survive his presidency. He just needs to forget what he said, and do what he knows are the right things to do.

Wednesday, November 9, 2016

Donald Trump seals historic US election victory

Obama offers congratulations as winner urges Americans to ‘bind the wounds’

Donald Trump has won a stunning victory over Hillary Clinton, wrongfooting investors around the world and defying Republican and Democratic political elites with his populist “Make America Great Again” movement.

he victory by the political outsider, amplified by a Republican sweep of the Senate and House of Representatives, marks a repudiation of Barack Obama that was fuelled by a backlash against globalisation in the wake of the global financial crisis.

The result, which upended the predictions of most pollsters and investors, led to sharp swings in financial markets. The Mexican peso was off 8.2 per cent after tumbling 12 per cent, its biggest drop since the country’s 1994-1995 devaluation crisis.

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The US dollar fell 1.2 per cent against the yen and recovered early losses to remain flat against the euro. After sliding 3.4 per cent on the news, S&P 500 futures were down 1 per cent and gold gained 1.9 per cent. Meanwhile, Treasury bond yields fell as investors sought safety and then rose sharply hours later as many bet that the new president would win support for fresh spending, eventually stoking inflation.

Mr Obama called Mr Trump early in the morning to congratulate him on his victory, the White House said, noting that the president-elect had been invited to Washington on Thursday to discuss transition planning. Mr Obama was expected to address the nation later today, setting out “steps we can take as a country to come together after this hard-fought election season”. Mrs Clinton was due to speak at 10:30 New York time (3:30 GMT).

Mr Trump strode to victory with wins in battleground states, including Ohio and Pennsylvania, propelled by white, working-class “Trump Democrats”. These voters crossed party lines to back a billionaire who vowed to return jobs to America — echoing Ronald Reagan’s victory over Jimmy Carter in 1980.

In his victory speech in New York, the property developer concluded one of the most divisive campaigns in history by calling on the country to come together, as he stressed his intention to be a president for all Americans, whether they had supported him or not.

“Now it is time for America to bind the wounds of division. We have to get together,” he said. “To all Republicans and Democrats and independents across this nation, I say it is time for us to come together as one united people.”

After months of vicious rhetoric against his opponent, Mr Trump congratulated Mrs Clinton, who he said had called him to concede, and thanked the former first lady, senator and secretary of state for her years of public service.

“Hillary has worked very long and very hard over a long period of time and we owe her a major debt of gratitude for her service to our country. I mean that very sincerely,” he said. Mrs Clinton’s campaign said she would speak on Wednesday morning.

“As I’ve said from the beginning, ours was not a campaign, but rather an incredible and great movement,” Mr Trump said. “It’s a movement comprised of Americans from all races, religions, backgrounds and beliefs who want and expect our government to serve the people, and serve the people it will.”
After months of warm comments about authoritarian leaders such as Russian president Vladimir Putin, coupled with threats to downgrade America’s relationships with its allies, Mr Trump tried to assure the world that he would not be the temperamentally unfit commander-in-chief that Mrs Clinton and Mr Obama portrayed him to be.

“I want to tell the world community that while we will always put America’s interests first, we will deal fairly with everyone … all people and all other nations,” said Mr Trump. “We will seek common ground, not hostility; partnership, not conflict.”





 His victory reverberated across the globe — but particularly in Europe, where similar brands of populism are on the rise. France and Germany have national elections next year while Italians will go to the polls in December for a constitutional referendum that could determine the political future of prime minister Matteo Renzi.

“Today the United States, tomorrow — France,” tweeted Jean-Marie Le Pen, founder of the far-right National Front. In Germany, Frank-Walter Steinmeier, the foreign minister, remarked: “We must assume that US policy will, in the coming times, be less predictable for us.”

With results still being counted, Mrs Clinton pulled ahead in the popular vote by just over 100,000 ballots, thanks to strong support in California and New York. But the man who was widely dismissed as a joke when he announced his candidacy in June 2015 won a more convincing victory than even many supporters had believed possible.

In addition to winning Florida, Ohio, and North Carolina, Mr Trump’s appeal to working-class voters in the Midwest won him Pennsylvania — by 67,902 votes — and Wisconsin — by 26,788. Those states that had not backed a Republican since 1988 and 1984, respectively.

“It’s surprising, but (Mrs Clinton) winning Philadelphia and its upscale suburbs was clearly not enough to offset the record losses among white blue-collar voters in the rest of [Pennsylvania],” said Brendan Boyle, a Democratic congressman. “There is no question the Democratic Party needs to do a much better job in reaching out to these voters, who used to be reliably Democratic.”

In Michigan, another industrial state where Democrats have long counted on strong union support, Mr Trump won by 15,611 votes. In New Hampshire, his margin was 307 votes.

Coupled with the Republican victories in the House and Senate, the results provide Mr Trump with a clean slate of power that Republicans have not enjoyed since the Reagan era.

With one position still unfilled on the nine-member Supreme Court, and the possibility of further age-related vacancies over the next four years, the new president is also likely to have a lasting impact on the third branch of government.

While many conservatives worried that Mr Trump was really a New York liberal who would not support their views, they accepted his candidacy after he unveiled a list of possible Supreme Court justices who were considered acceptable.

Before the Associated Press called the race at 2.30am New York time, John Podesta, Mrs Clinton’s campaign chairman, told shell-shocked supporters at Manhattan’s Javits Center to go home, indicating that the former secretary of state had no plans to speak.
At Mr Trump’s election night event in the Hilton Hotel in Manhattan, supporters became increasingly euphoric as news of his wins came through on large screens either side of the ballroom stage. As Fox News called Wisconsin and Iowa for Mr Trump the crowd erupted with shouts of “USA, USA”, while images of despondent Democratic supporters at Mrs Clinton’s gathering prompted boos and shouts of “drain the swamp”.
“Thank God for Donald Trump. This is once in 10 lifetimes that you see something like this,” said Joe Sparacio, a New York lawyer who had volunteered for the candidate and lived in one of Mr Trump’s father’s buildings as a boy. “The American people are the greatest and they are a lot smarter than all these politicians give them credit for.”

By contrast, the initially jubilant Clinton campaign party soon turned sour as returns showed the tightening races in Virginia, Michigan, and Pennsylvania and Mr Trump running away with Ohio and Florida.

In the VIP audience, Mrs Clinton’s friends and supporters stood shell-shocked underneath a glass ceiling that remained decidedly un-shattered, as people close to the campaign tried to comprehend how their internal polling had been so wrong.

Vin Weber, a former congressman who is close to House speaker Paul Ryan and was a vocal critic of Mr Trump, said: “Americas role in the world is suddenly an open question. But I wouldn’t assume the worst. I’d assume a question mark.”

Around the world, Mr Trump’s victory triggered strong reactions from US allies and populist politicians.

Vladimir Putin, Russian president, said: “Russia is ready and wants to restore fully fledged relations with the US. It won’t be easy, but we’re prepared to do our part.”

Theresa May, UK prime minister, promised to work with Mr Trump to bolster the so-called “special relationship” between Britain and America.

“We are, and will remain, strong and close partners on trade, security and defence. I look forward to working with President-elect Donald Trump, building on these ties to ensure the security and prosperity of our nations in the years ahead,” she said.

Benjamin Netanyahu, Israel’s prime minister, congratulated Mr Trump on his election as America’s 45th president.