On Slack: Debt & Credit Bubble, Flashback 2016, How India Spends?, Long-Term Capital Tax, Made In Bangalore iPhones, No Mercy Under Scrutiny

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Slack is where the daily action happens. We take pride in our diverse and always helpful member community which includes value investors, fund managers, and professional traders. Here is a brief summary of some of the interesting things discussed there in the last few days. Find all older ones here.


#general: How India spends

The money lavished on weddings is more than double the amount spent on higher education in India, shows the ICE 360° Survey. Livemint

#general: A fair tax for long-term capital gains

If we want our tax system to be more equitable and fair, we need to sharply correct skew in favour of more direct taxes. Livemint

#Options: SEBI Eases Trading Norms For Equity Derivatives Contracts

With an aim to ease trading requirements, markets regulator Securities and Exchange Board of India on Tuesday relaxed the combined futures and options position limit of stock brokers, foreign portfolio investors and mutual funds in equity derivatives to 20 per cent of the applicable Market Wide Position Limit. Bloomberg Quint

#general: Foundations of Technical Analysis: Computational Algorithms, Statistical Inference, and Empirical Implementation

NBER

#general: Flashback 2016: Good rain, pay hikes buoy consumer mood but note ban spoils the party

Consumer goods companies were upbeat in the first half of 2016, pinning their hopes on an above-average monsoon that would revive rural demand. Besides, the implementation of the Seventh Pay Commission’s recommendations, which would leave more money with the country’s middle class, was likely to be a shot in the arm. VC Circle

#general: NSE’s Systems Prone To Manipulation, Says Deloitte

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An external audit conducted by Deloitte India has found that the National Stock Exchange of India Ltd.’s systems are prone to manipulation. The exchange disclosed this information in its draft red herring prospectus filed with market regulator, Securities and Exchange Board of India, for its maiden public offer. Bloomberg Quint

#macronomics: Government Debt And Credit Bubble – No Hope For Humanity

We discuss the real problem facing global growth right now, the massive government debt and credit bubble in this video. Republicans and Democrats keep Spending and Borrowing like there is No Tomorrow. Value Walk

#general: Direct tax collections in Mumbai, Delhi in single digit

Direct tax collections by both Mumbai and Delhi zones of the Income Tax department were in single digit until December 24, a department official said. Economic Times

#general: RBI extends grace period for NPA classification by 30 days

The Reserve Bank of India on Wednesday further extended the grace period for banks, non-banking finance companies and microfinance companies to classify bad loans by30 days in the case of agriculture and term loans of up to Rs 1 crore. Economic Times

#general: RBI: Can’t Disclose Reasons Behind Demonetisation, Can’t Say When The Notes Will Be Replenished

Outlook India

#general: Large deposits by 60 lakh individuals and companies under scrutiny, no mercy for evaders, says government

As many as 60 lakh individuals and firms have made large deposits totalling an astonishing Rs 7 lakh crore in old notes, top government officials said on Thursday while warning the evaders that every penny of tax will be extracted as the black money does not become white by merely putting it in banks. Times of India

#general: GIFT city: BSE plans to trade for 22 hours a day, NSE to foray in February

GIFT is being promoted as India’s first international finance center to counter shifting of country’s equity, currency and commodity trading to tax havens. Economic Times

#general: Apple to start making iPhones in Bangalore from April: Report

Apple’s Taiwanese manufacturing partner Wistron is setting up a plant in Bangalore to manufacture or assemble iPhones. Indian Express

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