Archive for June 22nd, 2017

Shaping Coimbatore as a smart city…

June 22, 2017

Interesting discussion:

Coimbatore is one of the “lighthouse cities” in the smart cities mission and its smart city proposal was ranked 13th among the 100 cities chosen under the mission. The city and its proposals focussed on the ecological restoration of its lakes that are its raison d’etre. The other feature of the smart city proposal was its resounding citizen participation programme. Coimbatore is expected to receive technical support from the German government for designing smart infrastructure projects.

The case of Coimbatore was discussed in a workshop on smart cities organised on 6 and 7 June 2017 under the umbrella of the German House for Research and Innovation (DWIH) by the Heidelberg Centre South Asia (HCSA) and Observer Research Foundation (ORF). Other partners included Friedrich Naumann Foundation, the School of Planning and Architecture (SPA), the Indian Institute of Architects (IIA Coimbatore Chapter) and the Bavarian-Indian Centre (BayIND). This workshop, second in the series, was held in collaboration with local institutions PSG College of Technology and Kumaraguru College of Technology (KCT-BS). The first one was organised in Shimla on 19 and 20 May 2017.

Lots of history behind Coimbatore. It has been a so called smart city for a while as this remark suggests:

The significance of participation exercise in inclusive planning was highlighted by Mr. C.R. Swaminathan, President, Residents Awareness Association of Coimbatore, during his keynote address. It was mentioned that Coimbatore is a very progressive city and open to ideas for city development.


SBI Exchange Traded Fund becomes country’s largest mutual fund scheme..

June 22, 2017

This is a fascinating development and comes sooner than expected. In a recent post, one argued that time for passive/exchange traded funds is about to come.

Now, one sees SBI ETF Nifty 50 overtake HDFC Equity to  become the largest equity fund. The fund though has not grown due to retail money but due to changes in EPFO rules which allows larger equity exposure.


How did Japan enter the world markets during the first age of globalisation..

June 22, 2017

Interesting research by Profs. Christopher Meissner, John Tang

Economists have long been interested in the dynamics of comparative advantage, but have only recently begun to use detailed product-level data in their analysis. This column examines the Japanese experience after the liberalisation of the 1850s. It suggests that trade costs, destination market demand conditions, and product specific factors played key roles in Japanese exports growth. Roughly 30% of growth in exports between 1880 and 1910 came from shipping new goods to new countries, selling new goods to extant trade partners, and introducing existing products to new countries.

Even during early 20th century, Japan was thinking of entering international markets via new products, new markets and so on. Fascinating..

What is it with Turkish Lira demonetised notes that interests currency exchangers in India?

June 22, 2017

Turkey demonetised a series of notes in 2010. The demonetised notes cannot be used for transactions but can be exchanged at central bank offices. The government has given a 10 year window (10 years!) to exchange the notes which is quite something.

This morning there was a news in Bangalore papers about busting of a gang which offered exchange for the Turkish demonetised notes:

It was a hoard of demonetised currency with a difference: not Indian rupees for clandestine exchange, but Turkish lira with a face value of ₹71 crore.

A group of four in Bengaluru, including a 40-year-old constable, tried to sell the demonetised lira to a businessman, police said. All four were arrested on Tuesday and 78 notes of 500,000 denomination recovered. The exchange rate is ₹18.27 to the lira. “Though the currency has been demonetised in Turkey, it is redeemable and legal tender. It can be exchanged till December 2019,” said City Police Commissioner Praveen Sood. The gang was busted while negotiating the sale for ₹27 lakh at a multiplex in Marathahalli.

While doing google search, I came across three more cases of similar operations being busted, all in Hyderabad. On May 16, 2016, Nov 16, 2016 and March 22, 2017  .

I have always been fascinated by these cash operations. There should be some linkages and reasons to see demonetised Turkish Lira first finding its way in India and then being exchanged…

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