Deepak Shenoy @deepakshenoy Twitter profile

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Deepak Shenoy

3 years

Folks, my book "Money Wise" is out! From the basics of saving and investing, to more complex aspects of building your wealth, I take you through a journey that I hope is entertaining and educative. Available now at

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Deepak Shenoy

@deepakshenoy

2 years

25 years ago, Citibank refused to give me a credit card because I was a "flight risk". (Software engineer etc) Today, Citibank shuts down India ops. They are the flight risk now.

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Deepak Shenoy

@deepakshenoy

8 months

Canada is funny. It arrested truckers for just protesting against the vaccine, harassed their family members and tried to destroy their lives. But actual terrorists can be perfectly safe and happy in their country, and plan terrorist activity against India. I don't think Sikhs

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Deepak Shenoy

@deepakshenoy

1 year

Chauhan sells Bisleri to Tata for 7000 cr. It's an iconic brand indeed. He first sold Thums up to Coke in the early 90s, and even after 30 years, Thums up is still the leader even beating cokes own cola in India. What an iconic guy.

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Deepak Shenoy

@deepakshenoy

4 years

Mukesh Ambani is a legend. He's managed to raise 92,000 cr. in the lockdown, for Jio.

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Deepak Shenoy

@deepakshenoy

2 years

It is just awesome to read that British newspapers are screaming furious about an Indian woman being richer than the queen. And that she's been richer for a long time now.

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Deepak Shenoy

@deepakshenoy

2 years

MasterCard and Visa stop operating in Russia. India did well to create rupay and UPI and to stop foreign banks from being a major part of our economy.

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Deepak Shenoy

@deepakshenoy

2 years

UPI should remain free as an online service, forever. This concept of oh PhonePe or GPay is not earning money is their problem; they chose to get in knowing there was no money in it. If they walk away, someone else will come and take their space. Banks get paid.

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Deepak Shenoy

@deepakshenoy

3 years

Dear bankers who are selling a pension ulip to a 75 year old lying to them about returns and omitting fact that money is locked for life. How do you sleep at night?

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Deepak Shenoy

@deepakshenoy

2 years

There is an insane amount of effort to push propaganda against the Vande Bharat India made trains. I wonder why. It's quite easily visible that the anti is being pushed and pumped but it has to be industrial? Small events in a new train with this much coverage is strange.

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Deepak Shenoy

@deepakshenoy

2 years

The NDTV takeover was not today. It was in 2009. No one made money here. Not the acquirer. Not NDTV shareholders, and not even the ex-promoters of NDTV. The public offer is some 30% below the current market price. There's no money to be made here. (more details follow)

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Deepak Shenoy

@deepakshenoy

8 months

This is HUGE! RBI says banks and NBFCs have to release documents of properties and collateral mandatorily within 30 days! * Have to remove encumberance within 30 days, and return docs * Docs can be returned from any branch, not just home branch of customer * Loan docs must

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Deepak Shenoy

@deepakshenoy

4 years

Hero motocorp sells 8 lakh vehicles in Oct. Just when Bajaj was saying demand isn't that much.

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Deepak Shenoy

@deepakshenoy

1 year

Biden, Sunak and Macron congratulate India for buying from the private companies Boeing and Airbus. Why is that fine but when Indian politicians say good things about private companies it's sacrilege, i wonder.

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Deepak Shenoy

@deepakshenoy

2 months

Yesterday, someone from a Life Insurance company called, insisting I should consider this plan. After three calls, I said fine, just tell me what it is. Pay us 1 lakh per year for seven years, she said. In the eighth year, we'll give you back 11 lakh! Now I have this number

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Deepak Shenoy

@deepakshenoy

2 years

This is a terrible decision. Taxpayers will be paying HUGE pensions going forward if this becomes the norm. Very retrograde. This is just another insane freebie that we will pay but these politicians will go out of power by then.

Arvind Kejriwal

@ArvindKejriwal

2 years

Wow! A great decision. All govt employees across India want Old pension scheme to be restored.

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Deepak Shenoy

@deepakshenoy

3 years

This is incredible news. UPI will link with PayNow of Singapore to do instant, low cost fund transfers between countries! So Indians can pay (and receive from) people in Singapore just by their mobile numbers. From July 2022.

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Deepak Shenoy

@deepakshenoy

2 years

Remember a ridiculously stupid decision by the government to demonetize 500/1000 rupee notes 6 years ago. Even I thought it might be useful, at first. But it was stupid, not thought through and completely pointless. I hope we never do such a thing again.

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Deepak Shenoy

@deepakshenoy

3 years

India is a land where bullies win. One of these days we're going to change that.

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Deepak Shenoy

@deepakshenoy

2 years

California will give $1050 per family to fight inflation? Don't they see how stupid it is? If you give people free money it creates inflation

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Deepak Shenoy

@deepakshenoy

3 months

I'm quite happy the super rich are spending their money. Money's only objective is to be spent. When you have so much you can't possibly spend it with regular expenses, big bash spending is a good way to distribute a part of it. Commerce is better than charity.

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Deepak Shenoy

@deepakshenoy

2 years

One of my friends, now settled in the US, told me: Indians don't really leave because of the government (or lack of it). They leave because of the huge family and society expectations India seems to have. Explains why so many people do better outside their "native place".

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Deepak Shenoy

@deepakshenoy

1 year

Demonetization was a terrible, terrible idea. It did nothing to reach those loftybgoals of eradicating black money, and as a side effect sowed seeds of upi and stock market investing. But to the economy at large, it was a lousy thing to do.

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Deepak Shenoy

@deepakshenoy

4 years

Let's go local: The RBI owns 35 lakh crore worth of US govt bonds. They own just 10 lakh cr. of Indian govt bonds. Our own central bank won't go local?

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Deepak Shenoy

@deepakshenoy

7 months

The real reason why NVidia is planning to expand into Haridwar

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Deepak Shenoy

@deepakshenoy

5 years

If I have this right - 72,000 rupees a year for 5 cr. households? This is Rs. 350,000 cr. - a little more than half our personal income taxes. Imagine half your taxes, given to someone for free, no work required.

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Deepak Shenoy

@deepakshenoy

3 years

Sadly, this is correct. The government has spent more on MSP based purchases this year than any other, by a large factor. Which benefits largely Punjab and Haryana. The issue is simple: the middlemen are the people in power.

Ashu (Modi Ka Parivar)

@muglikar_

3 years

To sum up: Punjab farmers are protesting a law which is not applicable to their state, on matters which are not covered by the act and demanding MSP which has not been cancelled at all & after selling millions of tons of grains to the central govt last month. Maan Gaye guru

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Deepak Shenoy

@deepakshenoy

3 months

I don't think India should ever make minimum support prices a legally required thing. It means instant bankruptcy of the nation for one. And then, a no-income-tax paying entity shouldn't get absolute guaranteed income (no one else gets it!). Instant bankruptcy because currently

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Deepak Shenoy

@deepakshenoy

6 months

RBI increases risk weights for banks and NBFCs. This is pretty big! 1) All consumer credit (other than housing, vehicle, gold, edu and MFI loans) see an increase in risk weight to 125% from 100% What this means is:

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Deepak Shenoy

@deepakshenoy

5 years

How much crap we are giving for a train that was built in India and has had one glitch after an animal hit it. Such acerbity for a product that has much to be proud of! They'll fix it, let's give them some room.

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Deepak Shenoy

@deepakshenoy

4 months

Can't believe RBI would just go destroy a bank like this. When yes Bank had much bigger issues they took over and got other banks to take over. To protect the system they ensured a smooth transition in 15 days. But now they prefer to let all the banks customers, vendors and

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Deepak Shenoy

@deepakshenoy

2 years

Why do some High Networth Investors get those incredibly high funding for IPOs? A thread:🧵

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Deepak Shenoy

@deepakshenoy

1 year

Why is the Supreme Court meddling into SEBI territory? Appointing a committee to oversee short selling is massive judicial overreach. Even if so, needs very least someone SENIOR (the Chairman, preferably) from SEBI, and/or someone senior from RBI as chairpersons.

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Deepak Shenoy

@deepakshenoy

1 year

It's 2023 and we're still giving credit for people in power carrying a tiny little bag :)

🦏 Payal M/પાયલ મેહતા/ पायल मेहता/ পাযেল মেহতা

@payalmehta100

1 year

Travelling like a commoner, carrying his own bag- At Delhi Airport- Chief Justice Of India- DY Chandrachud Photo Ctsy- unknown

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Deepak Shenoy

@deepakshenoy

4 years

Urban ladder sold to Reliance for 182 cr after having raised 700cr. This is actually better than having to shut it down. But distress sale indeed.

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Deepak Shenoy

@deepakshenoy

3 years

When stocks fall, the institutions get the regulators to ban short selling. When stocks go up when they are short, they get the brokers to ban buying. Capitalism is sometimes what socialism aspires to be :)

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Deepak Shenoy

@deepakshenoy

1 year

Sometimes you just have to admire the chutzpah. To almost miss a flight because he went to the wrong terminal, and then blame the airport for being named "international" in a video that will forever certify this ignorance.

Ujjawal Trivedi

@iujjawaltrivedi

1 year

My experience with @AkasaAir

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Deepak Shenoy

@deepakshenoy

2 years

RIP Rakesh Jhunjhunwala. A trader, investor and legend that inspired many. He played the short and long side, and made his peace with the market. He will be remembered fondly. Condolences to his family.

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Deepak Shenoy

@deepakshenoy

6 months

Ashneer Grover apparently siphoned out funds to his family in the name of recruitment services - a well known mechanism to take money out. So stupidly done too - they backdated invoices with bank accounts that didn't even exist at that date! Remember news at that time stated

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Deepak Shenoy

@deepakshenoy

3 months

This would retail in Mumbai for at least 5 crores each and you still won't be allowed to cook non veg in them

Ian Miles Cheong

@stillgray

3 months

Amazon sells these houses for $19,000 because no one can afford a real home anymore. They are glorified shipping containers.

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Deepak Shenoy

@deepakshenoy

10 months

Personally went through this...Mom went to the court house for two years once every two months to evict a tenant who refused to pay rent after the first month. He also filed a case saying henchmen used just like that. Had done this with other people too. It took two years to get

Neil Borate

@ActusDei

10 months

This still happens. Very few people talk about this risk in #realestate .

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Deepak Shenoy

@deepakshenoy

3 years

IDFC first bank is amazing. Only bank that tels me exactly where my incoming money has come from. Finally!!!!

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Deepak Shenoy

@deepakshenoy

4 years

Rumours about a Market Stabilization fund that will buy stocks. The Government SHOULD NOT do this. Spend on medical facilities, on emergency supply chains, on direct transfers to the poor. Leave the market alone, it is not a priority.

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Deepak Shenoy

@deepakshenoy

2 years

Domestic buying is so strong. I have hardly seen a market like this.

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Deepak Shenoy

@deepakshenoy

8 months

Holy moly. This is actual fraud and I found that @Swiggy is doing this even for me! Here's my last order and it adds up to 255.60. But they charge 259? This stinks. It can't be some random error, it seems to be on purpose to add rs. 3 extra. What's going on?

mas.to /

@kingslyj

8 months

@Swiggy And it's not Swiggy just stealing a few extra paisa per order. Eg. 626.57+35.24+2.00+28.00-52.99+33.09 = 671.91 Instead of adding 9 paisa to round up to the whole rupee, @Swiggy charges Rs.3.09 extra instead. Absolutely no justification for this.

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Deepak Shenoy

@deepakshenoy

1 year

Since everyone's making a thread about SVB, here's my contribution. Silicon Valley Bank is an old boring conservative bank. It is in trouble not because of bad lending practices, but because of a combination of - strange way to invest short term money - announcing a capital raise

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Deepak Shenoy

@deepakshenoy

2 years

Keep the malls and everything else open but shut the schools. What a stupid government .

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Deepak Shenoy

@deepakshenoy

2 years

I don't understand how airports are as busy as fishmarkets and yet, Indigo manages to lose money

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Deepak Shenoy

@deepakshenoy

4 months

Flying with *the* SKY!

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Deepak Shenoy

@deepakshenoy

9 months

Why is Jio financial services, JIOFIN at lower circuit every day? It's one of the pitfalls of having so much money in index funds - forced selling. The largest Indian mutual fund scheme is the SBI Nifty 50 ETF. It has 160,000 cr. in assets. It tracks the NIFTY 50 Index. Also,

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Deepak Shenoy

@deepakshenoy

3 years

@deepigoyal @zomato Many thanks for this, Deepinder. If there is a way for us to support Kamaraj and his family during this time, please let us know.

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Deepak Shenoy

@deepakshenoy

2 years

Zomato wants to buy blinkit for 4500 cr. Mostly Zomato stock locked in for 12m. Some cash. Blinkit loses 66cr a month at contrib level to generate 54 cr revenue. Zomato shareholders are ok with this? I'm super surprised. Massive 8% dilution to buy insane cash burning biz.

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Deepak Shenoy

@deepakshenoy

1 year

A story i heard was when a rival wanted to launch a cola, Chauhan bought all the glass bottled drinks of the competitor that he could.(this is when plastic wasn't prevalent) Economics of glass bottles requires recycling to be profitable. Capex exhausted, competition dies.

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Deepak Shenoy

@deepakshenoy

1 year

One day we'll just be able to travel with an Indian passport without having to ask do i need to give my full plan travel detail and book hotels etc before applying for visa. That line outside the American embassy and the silly one week visas of europe...needs to go.

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Deepak Shenoy

@deepakshenoy

4 years

Working on #BharatBandh . Didn't even know until someone tweeted it - gonna work a little bit harder just because some jokers think they can decide for me what I should do.

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Deepak Shenoy

@deepakshenoy

3 years

At what point do we realize we have given too much power to some people? Not just the politicians. The cops, the IAS officers, even RWAs. This is not equality, or fraternity or liberty.

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Deepak Shenoy

@deepakshenoy

1 year

Bisleri is an awesome brand. Chauhan is 82. Sells this too now. Incredible entrepreneur. Is there a book on this guy?

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Deepak Shenoy

@deepakshenoy

1 month

RBI says all personal loans will, from Oct 2024, need to carry a Key Financial Statement that has the details of the actual interest rate, including all fees/charges of any loan. * no more hidden fees (can't charge what isn't mentioned) * digital loans need a look free

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Deepak Shenoy

@deepakshenoy

2 years

This is FANTASTIC!!!!! International trade can be settled in INR: Thank you RBI. Finally. More details in a bit. I'm elated. It may be premature. But what the hell, at least one step forward.

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Deepak Shenoy

@deepakshenoy

2 years

If you own SINTEX, kindly note: Share is likely to go to zero. Both resolution plans say they will write down equity to zero. Be warned.

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Deepak Shenoy

@deepakshenoy

2 years

Now you won't even need a card at an ATM. RBI says you can do a UPI request and get cash instantly on ATMs.

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Deepak Shenoy

@deepakshenoy

1 year

RBI changes rules for loans. Now - No increasing the interest rate if you default, or delay, or such. Loans can ONLY have a penalty charge. - Such penalties will not be added to loan amount. Penalty does not "compound". - Sadly, rule doesn't apply to credit cards.

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Deepak Shenoy

@deepakshenoy

3 years

I have passed the second semester of my MBA course. Thank you for all your support, folks.

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Deepak Shenoy

@deepakshenoy

4 years

Excellent - RBI puts up scheme of reconstruction for Yes bank. I will give you a detailed explanation in this thread.

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Deepak Shenoy

@deepakshenoy

8 months

If it takes a crisis to fix a city, then Bangalore needs a massive recession.

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Deepak Shenoy

@deepakshenoy

2 years

Don't buy the motilal Nasdaq 100 etf right now. It has an 8-10% premium to the underlying nav. The Kotak n100 fund is better as an idea.

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Deepak Shenoy

@deepakshenoy

1 year

@malinibhupta @veenavenugopal @RBI Check out this. Send an email to Rinku Anand (don't just call, ensure there is an email sent) and then register a complaint at the RBI ombudsman site too:

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Deepak Shenoy

@deepakshenoy

1 year

@RichardDawkins @theliverdr It's not been removed, it's been moved to a different grade. Evolution is a chapter in class 12, periodic table in class 11. It's not a religious thing. (You may be right in that it deserves to be taught earlier, but it's not like they don't believe it should be taught at all)

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Deepak Shenoy

@deepakshenoy

3 months

Been an incredible 19 years together! So awesome to have built our life together, Sunila and me 🥂 From our younger days, and to many more together:

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Deepak Shenoy

@deepakshenoy

2 years

Oh this Swift system access cut off is going to result in a new financial order involving Russia, China and I hope, India. It's very easy to switch and to creat a combination base of the three currencies to enable trade, and other countries could also join later.

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Deepak Shenoy

@deepakshenoy

4 years

I think we should now totally stop expecting a stimulus. This government isn't going to do anything, it appears. It's like a deer in the headlights - stunned and just unable to act. What they really want to say: The covid is going to cost you . More taxes. Go away.

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Deepak Shenoy

@deepakshenoy

3 years

Good to hear that Shaktikanta Das gets a 3 year extension. People hated him for his degree in history, but he's done well in keeping the house in order, and making things better.

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Deepak Shenoy

@deepakshenoy

1 year

If you had a loan of 1 crore for 20 years at 6.5% (a couple years back) Now rates rise to 9.5% The bank does not want to raise the EMI but increase tenure of loan What is your effective new tenure of loan? (Assume you paid back only 5% of loan principal so far)

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Deepak Shenoy

@deepakshenoy

4 years

What awesome fielding I say!

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Deepak Shenoy

@deepakshenoy

2 years

Palki is spot on. Plus America itself continues to buy loads of uranium from Russia. This whole sanctions thing is a joke.

Palki Sharma

@palkisu

2 years

Europe continues to buy 45% of its gas from Russia, even after the invasion. Germany: 55% of the natural gas, 52% of the coal & 34% of mineral oil used comes from Russia. But India must think about its place in history books if it buys Russian oil? The West’s hypocrisy stinks.

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Deepak Shenoy

@deepakshenoy

3 years

We should immediately consider any person from the UK to be unvaccinated unless they have taken Indian vaccines inside India.

Alex Macheras

@AlexInAir

3 years

UK government confirm tonight that if a person has been vaccinated in Africa, or South America, or countries including UAE, India, Turkey, Jordan, Thailand, Russia… …you are considered “unvaccinated” and must follow “unvaccinated” rules ⛔️ = 10 day home quarantine & tests

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Deepak Shenoy

@deepakshenoy

2 years

10 year at 6.95%! The government is paying more for a 10 year loan than you pay for a home loan.

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Deepak Shenoy

@deepakshenoy

3 years

HDFC Notbanking.

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Deepak Shenoy

@deepakshenoy

1 year

This is more than the reported subsidy cost for Karnataka freebies! Why is the govt doing such a subsidy? Dump it and sell it. 84000 cr is ludicrous.

mohitsatyanand

@mohitsatyanand

1 year

BSNL has 2.2 cr subscribers. Govt spending 84,000 cr to revive BSNL. That's 40,000 rupees per subscriber!

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Deepak Shenoy

@deepakshenoy

1 year

SEBI proposes that brokers will no longer actually keep client money with them: money will directly flow from customer bank accounts to the clearing corporation and back, for each trade. Very interesting, and has major ramifications for all brokers.

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Deepak Shenoy

@deepakshenoy

3 years

On popular demand: The Nifty Monthly Table

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Deepak Shenoy

@deepakshenoy

3 years

I have passed the third sem of my MBA course. Phew. Now for the final semester!

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Deepak Shenoy

@deepakshenoy

5 years

Cobrapost is hilarious. Says how can a 8500 cr. company get loans of 98000 cr. Hello? It's a Housing Finance Company. All of them operate like this only - leveraged upto 15:1. If the rest of it is like this I'm ignoring it.

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Deepak Shenoy

@deepakshenoy

7 months

Folks, it takes a minute to lock your biometrics to avoid this scam..do this: 1. Go to 2. Login with otp 3. Click on Lock/unlock biometrics and click next. That's all.

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Deepak Shenoy

@deepakshenoy

1 year

If you're getting very excited about Yes Bank and all the stuff that's happening, remember that the 3 year lock-in for 75% of the pre-drama shares expires in March 2023,3 months from now. Lots of liquidity coming, and the news will be all over the place roughly end-Feb.

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Deepak Shenoy

@deepakshenoy

6 years

Six months ago: Good result, stock goes up. Bad result, stock goes up. Today: Good results, stock tanks. Bad result, stock tanks. Any mention of IL&FS within 5km of company office: stock tanks.

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Deepak Shenoy

@deepakshenoy

5 months

RBI has a new rule: NBFCs cannot use AIFs to evergreen loans. Let me explain. This is going to take some time. NBFCs have seen increased regulation over time, mostly because they tried silly stunts. So RBI forces them to recognize bad loans after 90 days of non payment etc.

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Deepak Shenoy

@deepakshenoy

3 months

@b50 The correct answer is you learn to stop craving validation and get on with life. Anything else will lead you to distress and disappointment and then they will blame your heart attack on vaccines.

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Deepak Shenoy

@deepakshenoy

2 years

While it seems a little crazy, this is how resolutions work. Ruchi soya, a massive loss making co, has been turned around and made 880 cr. net profit in the last 12 months. Lemme thread my thoughts here.

Maheshwer Peri

@maheshperi

2 years

Thread: Crony Capitalism and Baba Ramdev Ruchi Soya, a listed company goes into insolvency. They owed Rs. 12146 crores to PSU banks. SBI writes off 933 crores and settles its dues of Rs. 1,816 crore to 883 crores. Other banks - PNB, CBI etc write off more than half their loans

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Deepak Shenoy

@deepakshenoy

2 years

RBI did a "switch" today, converting nearly Rs. 120,000 cr. of government securities from short term to long. What does this mean?

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Deepak Shenoy

@deepakshenoy

3 years

@joybhattacharj @ninadb I would choose to not buy 4x the required amount of food from farmers, and to not spend Rs 422,000 cr. on that instead of the budgeted Rs. 115,000 cr. as they did last year. That could vaccinate us many times over

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Deepak Shenoy

@deepakshenoy

6 months

Note carefully that no one at OpenAI seems to have a three month notice period

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Deepak Shenoy

@deepakshenoy

3 years

FINALLY, the government says it has no business to be in business. Hope the government will now finally sell those 97 crores of ITC shares that they shouldn't have owned anyhow. And generate 20,000 cr. of revenue.

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Deepak Shenoy

@deepakshenoy

28 days

Lousy results by HDFC Bank. Ignore the 38% growth (they conveniently forgot that they merged with HDFC in July last year) - the real profit growth is just 3%. Even that is probably because of Credila (they got a pretax profit of some 7000 cr. because of it) Discl: Small pos.

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Deepak Shenoy

@deepakshenoy

2 months

Hilarious!

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Deepak Shenoy

@deepakshenoy

2 years

Buying something worth 12,672 on Amazon. Tells me "no cost EMI" is 2112 per month for 6 months. But 199+GST "processing charge". I just added the processing charge in the first month into excel and voila. Interest rate of 6.4%. More than my savings bank, so no point.

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Deepak Shenoy

@deepakshenoy

3 years

Don't buy Videocon. The resolution plan is out. You will get ZERO rupees.

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Deepak Shenoy

@deepakshenoy

2 years

Suzlon's founder, Tulsi Tanti passed away last night. Condolences to his family and may he find peace. Suzlon was what brought wind/solar to the fore, and was even a Nifty company in the past, but debt took it under. Incredible entrepreneur, RIP, OS.

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Deepak Shenoy

@deepakshenoy

4 years

I get the "boycott Chinese products" argument. But how many of you manufacture, say, toys in India?

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Deepak Shenoy

@deepakshenoy

11 months

Wtf. Don't they have a database they can lookup? Poor chap has to go to Mumbai from hyd just to show an exit stamp. We should probably boycott European travel only.

Preetam Nath

@hipreetam93

11 months

Just got the Schengen visa! However, there's a message stamped on it and I'm unable to understand why. Has anyone seen this before?

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