The Finesse Club, IMNU, organized FinTalk 3.0 and FinTalk 3.1 on November 29, 2016 and December 06, 2016 respectively. Both the sessions were on the topic “Demonetization of Indian Currency Notes”.
FinTalk 3.0 was conducted by Mr. Ajit Shah, a prominent tax practitioner, who provided insights with respect to impact of demonetization the different sections of the society and the tax implications.
FinTalk 3.1 was conducted by Dr. M. Mallikarjun, Director (I/C) IMNU. It was more of a discussion platform where, issues like – motive behind this act, its consequences on daily wage workers and its probable impact on Indian economy were taken up.
Takeaways Both the sessions were highly insightful with a lot of discussions on various aspects. Some crucial takeaways from both the sessions are:
It’s very early to reach any conclusion as of now, coming next two months are going to be very crucial to measure the impact of demonetization.
There is no doubt about the good motive behind the decision but the execution part is questionable.
To move towards a cashless economy, we firstly need to put in place required infrastructure.
All cash is not black and holding cash is not an illegal act.
Cash is a very crucial element of every economy as it acts as a lubricant in the functioning of economic machinery.
To have an idea about severity of this act, we should look at financials of FMCG sector that is considered to be safe from such shocks by and large.
Both the sessions received phenomenal response from students, especially from MBA (FT) batch. The enthusiasm to know and understand the current developments was immense. All the members from the audience participated actively in discussions and resolved their doubts and queries, even after the sessions.