Introducing "WhatsApp Arkives" Number(#)One(1)
My daily information diet isn't complete without the seemingly endless stream of URLs / GIFs / Memes / Screenshots / Graphs and what not coming one's way through WhatsApp. Time to formalise this!
As reasonable people…we all fear becoming victims of "WhatsApp University."
(For the uninitiated…WhatsApp University is a derisive phrase used to describe the often suspect information you probably receive through the namesake and much hated-but-inseparable messaging app.)
BUT I cannot deny enough how important these daily WhatsApp messages from friends, family, and associates have become in completing my information diet.
Even better are the long-winded and thought-provoking exchanges which follow, rarely driven by agreement, mostly by difference of opinion, or the plain-old-buzz-killing-fact-check 😎.
Felt a gist of some of these WhatsApp exchanges would make nifty Think Piece(s) for Arkives.
So let me introduce WhatsApp Arkives, an on-and-off curation of interesting snippets and “takes” churning on my phone.
(in future cataloged as “#” followed by a reference number “x”)
So here's #1:
India’s June Manufacturing PMI and GST data showing early signs of economic recovery
FAQ on SBI Cap’s Special Liquidity Scheme Trust to give liquidity support to stressed NBFCs
Infrastructure Investment Trusts (InvITs) as an investment class
The Book I’m reading.
The Book I’ve been asked to read.
Schrödinger's douchebag
👇👇
India’s June Manufacturing PMI and GST data showing early signs of economic recovery
Though Mfg PMI stayed below the crucial 50 mark in June for the third consecutive month (>50 = expansion; <50 = contraction), the degree of contraction was slower than prior two months. Also, GST collections for June 2020 were closer to levels during the same period an year back i.e. when things were more “normal”.
But hopes of recovery would hold only:
if a second wave of coronavirus infections does not sweep the country.
Published at Livemint [2nd July, 2020]
Tip: What is PMI or Purchasing Managers’ Index?
FAQ on SBI Cap’s Special Liquidity Scheme Trust to give liquidity support to stressed NBFCs
This article presents more detail on the recently government-created Rs. 30,000cr ($4bn) Trust, setup to buy Commercial Paper (CP) off from stressed NBFCs - on way granting them liquidity to navigate through Covid.
The piece lays clarifications on the Trust’s mandate and the eligibility requirements for distressed NBFCs, e.g.:
The Trust [sponsored by SBI Capital Markets i.e. SBI’s IB ] will invest in Commercial Papers (CP) and Non-Convertible Debentures (NCDs) of eligible NBFCs/HFCs during the period of 3 months starting from the date of operationalization of the Trust and with a residual maturity of up to 90 days. These dates may be extended by the Government of India. The actual investment decision will be taken by the Investment Committee of the Trust.
The CRAR of [eligible] NBFCs/CAR of HFCs should not be below the regulatory minimum (i.e. 15% for NBFCs and 12% for HFCs) as on 31.03.2019.
Their Net Non-Performing Asset should not be more than 6% as on 31.03.2019.
They should have made a net profit in at least one of the two preceding financial years (i.e. 2017-18 and 2018-19).
The NBFCs/HFCs should not have been reported as SMA-1 or SMA-2 category by any bank for their borrowing during last one year prior to 1.8.2018.
The NBFCs/HFCs should be rated investment grade by a rating agency.
The criteria for eligibility is as expected from over enthusiastic regulators super picky! I mean, NPAs less than 6% and CRAR above 15%?!
Helloww!
Would NBFCs with such numbers be that stressed?
Published at CNBCTV18 [2nd July, 2020]
Casteism at Cisco. Old Habits Die Hard
So California’s suing Cisco…accusing the company of discriminating against an Indian American employee.
Two Indian managers face harassment charges.
BUT (for me) the most revealing para in the article:
Like other large Silicon Valley employers, Cisco’s workforce includes thousands of Indian immigrants, most of whom were born Brahmins or other high castes.
Woah.
Also, the two managers in question are (former) Cisco engineering managers Sundar Iyer and Ramana Kompella.
What did my friend (fellow IIT dude) say to me (also IIT dude) after sharing this link:
both IIT dudes, why am i no surpriseee
Ignore the typo… its WhatsApp.
Published at Reuters [1st July, 2020]
Infrastructure Investment Trusts (InvITs) as an investment class
This one talks about IndiGrid, a KKR and GIC backed InvIT which is listed on NSE.
Actually it talks to the CEO of IndiGrid.
InvITs are supposed to be like REITs (or ETFs), but for infrastructure.
Translation: tradable market listed chunks of infra projects. Institutional structure. Dividend yielding.
I likey. Must look into. More.
Published at Financial Express [2nd July, 2020]
JioMeet vs. Zoom
Must say, the mimicry is shameless.
Was hoping at least Facebook would object.
Oops.
#snap
The Book I’m reading.
Arguing with Zombies (by Paul Krugman)
Krugman debunks “accepted” conservative wisdom against dismantling social security, affordable health care, running budgetary deficits during recessions, and what not.
Democrat leaning in the most blatant way…
But packs a punch!
The Book I’ve been asked to read.
China’s Crony Capitalism (by Minxin Pei)
Friend who shared the cover also sent an excerpt:
His comments on the page:
Yibashou is head of local government. Woan is instance of corruption where several officials are simultaneously involved (collusion).
I wonder how Chinese bureaucracy and local party fiefdoms get churned? Is there a mechanism. TBC.
Last one.
Fin.