Amazing that you take a piece of data and manipulate it…

How to do a story on increase in deposits?

You take all the deposits of all the banks, see how much it has grown.

See how much has come as a fixed deposit from individuals….

what a way to do a story…

  1. from where did the deposit growth come?
  2. did it come in cash?
  3. did it come from corporates or from individual?
  4. what happened Quarter on Quarter over the past 5 years?

the language is also very careful…’raises a doubt’…’economy was not doing well’…’why this sudden growth’….sowing the seeds of suspicion very well.

Fully agree with NaMo the vested interest in not letting him rule is high…and he has taken panga with all the people..well lets see what happens

 

BTW would cnbc have done such a story without the consent of the new owner?

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  1. A lot of OROP arrears were paid and also possibly pay comission arrears hence a surge in deposits. Incomplete reporting.

  2. I had lot of respect for Latha for her knowledge on economy. But when she was reading these numbers, i was telling loudly “laths, it is pay commission boon which got deposited.. why didn’t you check”. Also, she should know that no one will deposit cash in bank if they are trying to hide it from govt. She sounded so stupid.
    By the way, someone asked this same question to FE yesterday and he said deposit increased because of pay commission bonanza.

  3. Here is my take.
    We had this IDS scheme from June to September. Former black money holders paid 45% tax on their hoardings to the govt and had the opportunity to bring the remaining 55% to the mainstream. Obviously they took the opportunity to deposit these into their bank accounts.
    Could this have contributed to the sudden spike in deposits? I believe so.

  4. powerful people getting impacted will try to create multiple issues to stop this clean-up drive.
    since they cannot protest clearly due to public support, there is clear intent to raise doubt in mind of people that they are being harassed without any benefit to nation. Whole idea is to create panic and erode the public support of the drive (issues raised like few people knowing in advance, bigger fish escaping, poor people getting harassed and dying). We can see numerous such articles being planted selectively in all papers (TOI, HT, ET etc)

    I hope people of India are smart enough to see through and continue to support to take this drive to logical conclusion, only when our nation will emerge stronger.

  5. I was seeing video series of ET now of this demonetization drive with Industry leaders (Naren, vallabh Bhansali, Madhu Kela, Bimal Jalan, Shikha Sharma). Everyone of these legends supporting this drive saying India will come out stronger. But irony of the interview was Anchor was trying to place words repeatedly in their mouth saying that India will be impacted since black money forms parallel economy and help sale of consumption goods and luxury items thus helping GDP growth.

    this complete discussion made me wonder whether these specific channels wanted to create such perception by using name of these legends, but thankfully they all rejected such conclusion strongly. This complete video series is available on youtube.

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