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Demonetisation opens up new channels of corruption: Austrian economist

Published

8 years ago

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Demonetisation, Note ban, Austrian economist, Heinz Kurz, Business news

New Delhi: Prominent Austrian economist Heinz D Kurz today described Indian currency demonetisation step as an attempt ‘akin to striking a rock with an egg’ and said it is ‘much too week and misdirected and instrument to root out corruption’.

 

 

He said that by taking this step the Indian government has opened up new avenues of corruption.

Kurz told media persons, “As far as I understand the situation, the policy of demonetisation has already been abandoned by the government, because it turned out to be an attempt akin to striking a rock with an egg.”

 

 

He said, “I strongly doubt that the demonetisation exercise will root out corruption and engender more transparency. It is much too weak and misdirected an instrument to achieve these goals.”

He added, “By introducing the Rs 2,000 banknote, a currency of twice or even four times the value of the banknotes that have been declared illegal, in the system… This can hardly be called demonetisation.”

Kurz is a professor of economics at the University of Graz, Austria.

 

 

He further said that Rs 500 and Rs 1,000 banknotes brought to banks were apparently counted, but not scrutinised as to whether it was ‘counterfeit money’.

It is important to notice that Prime Minister Narendra Modi on November 8 scrapped high value notes of Rs 500 and Rs 1,000, pulling out 86 per cent of the total currency in circulation.

 

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Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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