First PMC, then Yes Bank, which will be next ?
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I was wondering what happens when the bank fails. In the news it flashes "PMC Bank like withdrawal limit imposed on YES bank".
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Well, I don't have an account in Yes Bank, so I was like
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"Kya hoga is desh ka,
Kya kar rahi hai hamari sarkar,
Bichchare log".
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AND that was it, I was off to my routine work, because it didn't affected me.
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These are the words of a short sighted person and today in our country 80% of people think that way.
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Do you really think it didn't affected ME or YOU who didn't had an account in Yes bank.
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PLEASE WAKE UP FROM YOUR SLUMBER because It very much affected YOU and ME.
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Lets understand this with a small example.
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Well, I am running a car tyre shop, you know right, if you don't here it is 😁 - Maniar Tyreworld.
I don't have an account in "Yes Bank" but my prospective customer who just inquired me for a car tyre had an account in "Yes Bank". He was suppose to buy the set of car tyres in the coming week which were to cost him for Rs.20,000.
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Now you see what happened, he can NO LONGER BUY TYRES for his car because all his savings were washed off in this YES Bank failure.
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BUT WHAT ABOUT ME, I too incurred a straight loss of 20k.
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Similarly so many of the prospective buyers who had an account in YES bank who were suppose to buy something from someone say
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an apartment, an interior make over of their home,
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a holiday, a furniture, a fridge, a car, a phone,
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a family dinner in a restaurant, an ice cream
now are not going to buy because of YES bank failure and it will directly affect the business of all those people who are selling the above products/services.
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One of My friend stubbornly said to me, so what I don't care, I'm salaried and I don't own an account in "Yes Bank" and neither my company.
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Alas! My dear friend, the guy who is paying you the salary doesn't posses a Money Tree, he is running a business and as I explained his business is also affected if not directly but definitely indirectly.
If people don't buy your company product/services will your boss be able to pay you such a hefty salary. huh!
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Economy is like cycle chain, if one link is broken, you can not ride that cycle any more.
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Businesses complain there is slowdown,
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Why is there a slowdown?
It's because people are not buying.
So why are they not buying?
Its because they don't have Money any more.
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I am Surprised where did all the Money Go ?
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If I remember, during demonetization all the money came in the banks, then where did all the money go?
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If banks says we lent the money and they turned into bad loan, then still the receiver i.e. company/individual should have the money.
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If a receiver of the loan says I incurred the expenditure and now I don't have the money.
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Then he still made some payments to his suppliers, they should have that money.
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Money should be there somewhere in the economy in the hands of somebody.
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If it is not in the hands of any body then WHERE DID THE MONEY GO?
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Please reply below, if you know where did the money go ?
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All these people below are the victims because of a sudden disappearance of the money in the economy.
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WAKE UP PEOPLE !
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Next victim could be YOU.
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Find the culprit who vanished all the money before its too late.
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Companies Layoffs in 2019
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Sun Pharma - 85 employees reportedly terminated after company shutdown 2 units
Urban Ladder – 90 employees were reportedly fired
Oracle - Around 100 employees laid off in India
Treebo – Around 100-120 employees fired
HSBC – 150 employees were handed pink slips
ShopClues - About 200 employees laid off
IBM - Nearly 300 employees sacked from services division
Samsung – Around 1,000 employees could be let go in India
Mahindra & Mahindra - 1,500 employees were reportedly fired
Maruti Suzuki - 3,000 contract jobs reportedly cut
Jet airways - Shutdown affected 20000 employees direclty and 60000 other people indirectly
source: moneycontrol.com
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