Explained: Why are forex reserves shooting up when Indian ...

First Time in Indian History Forex reserves touched $500 billion mark. Today India overtook Russia & Korea to become 3rd largest forex reserve holder after China and Japan as the robust foreign funds inflow amid a raging Pandemic drives the country towards a momentous Landmark.

First Time in Indian History Forex reserves touched $500 billion mark. Today India overtook Russia & Korea to become 3rd largest forex reserve holder after China and Japan as the robust foreign funds inflow amid a raging Pandemic drives the country towards a momentous Landmark. submitted by BigSurround2 to IndiaSpeaks [link] [comments]

First Time in Indian History Forex reserves touched $500 billion mark. Today India overtook Russia & Korea to become 3rd largest forex reserve holder after China and Japan as the robust foreign funds inflow amid a raging Pandemic drives the country towards a momentous Landmark.

First Time in Indian History Forex reserves touched $500 billion mark. Today India overtook Russia & Korea to become 3rd largest forex reserve holder after China and Japan as the robust foreign funds inflow amid a raging Pandemic drives the country towards a momentous Landmark. submitted by BigSurround2 to indianews [link] [comments]

First Time in Indian History Forex reserves touched $500 billion mark. Today India overtook Russia & Korea to become 3rd largest forex reserve holder after China and Japan as the robust foreign funds inflow amid a raging Pandemic drives the country towards a momentous Landmark.

First Time in Indian History Forex reserves touched $500 billion mark. Today India overtook Russia & Korea to become 3rd largest forex reserve holder after China and Japan as the robust foreign funds inflow amid a raging Pandemic drives the country towards a momentous Landmark. submitted by cbemstar to u/cbemstar [link] [comments]

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India's forex reserves drop by $1.80 billion - Business Today - Business News

India's forex reserves drop by $1.80 billion - Business Today - Business News submitted by numb_and_number to india [link] [comments]

Have any of you radically changed your political views since childhood?

I grew up in a typical conservative middle-class household in the 90s. Like most conservative families, I grew up hearing about how horrible Sheikh Mujib became after 71, and how people were so relieved after he was murdered in 1975. This is something I heard from everyone, relatives, friends, etc. I, too, used to hate Sheikh Mujib. I thought he was a dictator, pro-India, anti-Islam, traitor, just wanted to be Pakistan's PM, etc.
Of course, I was a teenager in the 2001-2006 period when the BNP-Jamat government rammed the entire country into the ground. There were hartals and oborodhs all the time, electricity used to go off every other hour, terrorist would blast a bomb every other week while the government would term it all as a "conspiracy", there was no development and we would stagger from one crisis to another. Mullahs would carry out misils all the time calling for Shariah law, and attacking Ahmadiyya houses. Khaleda Zia had zero control over the country. She just didn't have any leadership qualities. I felt that I wanted to leave this shithole as soon as I got the first opportunity.
The BNP regime was interrupted by the caretaker government. Full of "highly educated" bureaucrats, I naturally supported them. But their "Minus 2" plan went nowhere, and they weren't being able to handle the country either. Fakhruddin Ahmed and Moinuddin Ahmed just didn't' have any leadership qualities either. Facing an unfavourable situation, they at least had the decency to organize elections and arrange a respectable exit for themselves.
Then we the Awami League get power in 2008. I still hated them back then. Their first term, 2009-2013 was full of turmoil, with the "Shahbag movement" and the "ICT Tribunal" and the hanging of the senior Jamat leaders. But the country gradually started getting into shape. If you look at the economic indicators we started taking off in 2010. By 2014 political stability was re-established. This was all possible due to Sheikh Hasina's leadership qualities, which others lack. The Awami League's electricity reforms paid off, and loadshedding is largely over in Dhaka. Awami League drastically reduced prices of broadband internet, and we got access to bufferless YouTube for the first time. BNP was jumping up and down screaming that government was looting crores of taka under the name of quick rental power plants. But our forex reserves zoomed from 10 billion to 30 billion. New roads were being built everywhere and Bangladesh's Debt-to-GDP ratio remains one of the lowest in South Asia, and in the world.
So I was really forced to re-evaluate my hatred of Awami League, Sheik Hasina and Sheikh Mujib. When I looked back at the life of Sheikh Mujib, I found that he dedicated his life to the people of East Bengal. He was a part of the Muslim League to get independence for us, and after witnessing the bloody religious riots changed his worldview to secular democratic socialism. That's something very admirable! That's not anti-Islam at all! And then he joined forces with India to free East Pakistan. That's not treason, his loyalty was to the people of East Pakistan. He single-handedly united 60 million very backward and uneducated people and led them to independence. After that, he presided over the creation of a Constitution that was secular, in a overwhelmingly rural, uneducated Muslim country. He could easily have given in to Saudi Arabia in return for oil, like so many Muslim countries, but did not compromise. He could have chosen to recognize Israel, and have gotten instant recognition and support from the West, but stayed firm to his principles of loyalty to the Palestinian people. All of his actions point towards the qualities of a great leader. Sheikh Mujib did not allow the Indians to stay in Bangladesh and ensured their withdrawal.
Just have a look at countries around the world today. Look at Syria, where they have a bastard dictator who murders his own people, and an opposition full of traitors and terrorists. Look at Libya, where the people have no leadership. Look at India, where they are under the thrall of a fascist religious dictator Modi. Sudan is only establishing secularism in their constitution in 2020, while Bangladesh did it 50 years ago!!! Look at Iran, where people are all trying to escape their religious government. Look at Pakistan with their blasphemy laws and their mullahs trying to oppose any law against child marriage! We bypassed all of this thanks to Sheikh Mujib and his foresight!!!
The closest leader who resembles Sheikh Mujib would be Mustafa Kemal Ataturk. While Ataturk was objectively greater than Sheikh Mujib, since he was an accomplished military leader who led the actual Turkish War of Independence himself, Ataturk also modernized a backward, rural, uneducated nation overnight into a modern, secular and democratic state. Of course, Ataturk has many haters. They also accuse him of being a dictator. But his achievements greatly overshadow any sacrifices that may have been required to achieve the goal of a modern independent Turkey. The same goes for Shiekh Mujib. Whatever are his faults, Rakkhi Bahini, BAKSAL, I am willing to forgive him for his leadership during our independence and his creation of a secular and democratic Bangladesh.
Today we are blessed to have his daughter Sheikh Hasina in power. Lots of you might call her "fascist". That's such a lazy and pathetic position to take. Trust me, if there was any other leader other than SH as PM the government would be just as "fascist" as her government is now. Its so easy to sit back behind a PC and cry "fascist fascist fascist". YOU try organizing a political party in a nation of 165 million people, and then successfully leading that country on the path towards economic development. Without a doubt, if those crying 'fascist fascist' were put into power as PM they would be 100 times more fascistic than Sheikh Hasina is right now.
Without a doubt, human rights abuses occur under her. Abrar was beaten to death by BCL thugs (which was fully supported by the 'humanist' Taslima Nasrin btw). But those BCL thugs are in jail now. Major Sinha Rashed Khan was murdered by OC Liakat and Prodip. Both of them are in jail. If SH was as fascist as people claim, they would be out in the streets, like the Hindu thugs who carried out the Delhi riots in February, or the terrorist Mullahs in Pakistan who forcibly convert and kidnap Christian girls.
So, from what I have seen, Awami League is an organic political party of the people of East Bengal. They have deeper roots in the hearts of the people than any other political movement. And they should be lauded because they have established secularism and inclusive nationalism where there is space for Bangladeshis of all religions and ethnicities in a united Bangladesh. While sometimes they have acted in a fascist manner, it is excusable because there is no other alternative in Bangladesh who can win elections and be more liberal than BAL. Instead of pathetically criticizing them, those who want the best for Bangladesh should work with them in order to reduce the human rights abuses which do still occur. BAL will be remembered in history like the PAP of Singapore, or the UMNO of Malaysia, or the Chinese Communist Party; all of whom were authoritarian, who were accused of being fascist, but ultimately ensured the evolution of their societies from backward uneducated agricultural societies to modern, secular democratic industrial ones.
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No, the British did not steal $45 trillion from India

This is an updated copy of the version on BadHistory. I plan to update it in accordance with the feedback I got.
I'd like to thank two people who will remain anonymous for helping me greatly with this post (you know who you are)
Three years ago a festschrift for Binay Bhushan Chaudhuri was published by Shubhra Chakrabarti, a history teacher at the University of Delhi and Utsa Patnaik, a Marxist economist who taught at JNU until 2010.
One of the essays in the festschirt by Utsa Patnaik was an attempt to quantify the "drain" undergone by India during British Rule. Her conclusion? Britain robbed India of $45 trillion (or £9.2 trillion) during their 200 or so years of rule. This figure was immensely popular, and got republished in several major news outlets (here, here, here, here (they get the number wrong) and more recently here), got a mention from the Minister of External Affairs & returns 29,100 results on Google. There's also plenty of references to it here on Reddit.
Patnaik is not the first to calculate such a figure. Angus Maddison thought it was £100 million, Simon Digby said £1 billion, Javier Estaban said £40 million see Roy (2019). The huge range of figures should set off some alarm bells.
So how did Patnaik calculate this (shockingly large) figure? Well, even though I don't have access to the festschrift, she conveniently has written an article detailing her methodology here. Let's have a look.
How exactly did the British manage to diddle us and drain our wealth’ ? was the question that Basudev Chatterjee (later editor of a volume in the Towards Freedom project) had posed to me 50 years ago when we were fellow-students abroad.
This is begging the question.
After decades of research I find that using India’s commodity export surplus as the measure and applying an interest rate of 5%, the total drain from 1765 to 1938, compounded up to 2016, comes to £9.2 trillion; since $4.86 exchanged for £1 those days, this sum equals about $45 trillion.
This is completely meaningless. To understand why it's meaningless consider India's annual coconut exports. These are almost certainly a surplus but the surplus in trade is countered by the other country buying the product (indeed, by definition, trade surpluses contribute to the GDP of a nation which hardly plays into intuitive conceptualisations of drain).
Furthermore, Dewey (2019) critiques the 5% interest rate.
She [Patnaik] consistently adopts statistical assumptions (such as compound interest at a rate of 5% per annum over centuries) that exaggerate the magnitude of the drain
Moving on:
The exact mechanism of drain, or transfers from India to Britain was quite simple.
Convenient.
Drain theory possessed the political merit of being easily grasped by a nation of peasants. [...] No other idea could arouse people than the thought that they were being taxed so that others in far off lands might live in comfort. [...] It was, therefore, inevitable that the drain theory became the main staple of nationalist political agitation during the Gandhian era.
- Chandra et al. (1989)
The key factor was Britain’s control over our taxation revenues combined with control over India’s financial gold and forex earnings from its booming commodity export surplus with the world. Simply put, Britain used locally raised rupee tax revenues to pay for its net import of goods, a highly abnormal use of budgetary funds not seen in any sovereign country.
The issue with figures like these is they all make certain methodological assumptions that are impossible to prove. From Roy in Frankema et al. (2019):
the "drain theory" of Indian poverty cannot be tested with evidence, for several reasons. First, it rests on the counterfactual that any money saved on account of factor payments abroad would translate into domestic investment, which can never be proved. Second, it rests on "the primitive notion that all payments to foreigners are "drain"", that is, on the assumption that these payments did not contribute to domestic national income to the equivalent extent (Kumar 1985, 384; see also Chaudhuri 1968). Again, this cannot be tested. [...] Fourth, while British officers serving India did receive salaries that were many times that of the average income in India, a paper using cross-country data shows that colonies with better paid officers were governed better (Jones 2013).
Indeed, drain theory rests on some very weak foundations. This, in of itself, should be enough to dismiss any of the other figures that get thrown out. Nonetheless, I felt it would be a useful exercise to continue exploring Patnaik's take on drain theory.
The East India Company from 1765 onwards allocated every year up to one-third of Indian budgetary revenues net of collection costs, to buy a large volume of goods for direct import into Britain, far in excess of that country’s own needs.
So what's going on here? Well Roy (2019) explains it better:
Colonial India ran an export surplus, which, together with foreign investment, was used to pay for services purchased from Britain. These payments included interest on public debt, salaries, and pensions paid to government offcers who had come from Britain, salaries of managers and engineers, guaranteed profts paid to railway companies, and repatriated business profts. How do we know that any of these payments involved paying too much? The answer is we do not.
So what was really happening is the government was paying its workers for services (as well as guaranteeing profits - to promote investment - something the GoI does today Dalal (2019), and promoting business in India), and those workers were remitting some of that money to Britain. This is hardly a drain (unless, of course, Indian diaspora around the world today are "draining" it). In some cases, the remittances would take the form of goods (as described) see Chaudhuri (1983):
It is obvious that these debit items were financed through the export surplus on merchandise account, and later, when railway construction started on a large scale in India, through capital import. Until 1833 the East India Company followed a cumbersome method in remitting the annual home charges. This was to purchase export commodities in India out of revenue, which were then shipped to London and the proceeds from their sale handed over to the home treasury.
While Roy's earlier point argues better paid officers governed better, it is honestly impossible to say what part of the repatriated export surplus was a drain, and what was not. However calling all of it a drain is definitely misguided.
It's worth noting that Patnaik seems to make no attempt to quantify the benefits of the Raj either, Dewey (2019)'s 2nd criticism:
she [Patnaik] consistently ignores research that would tend to cut the economic impact of the drain down to size, such as the work on the sources of investment during the industrial revolution (which shows that industrialisation was financed by the ploughed-back profits of industrialists) or the costs of empire school (which stresses the high price of imperial defence)

Since tropical goods were highly prized in other cold temperate countries which could never produce them, in effect these free goods represented international purchasing power for Britain which kept a part for its own use and re-exported the balance to other countries in Europe and North America against import of food grains, iron and other goods in which it was deficient.
Re-exports necessarily adds value to goods when the goods are processed and when the goods are transported. The country with the largest navy at the time would presumably be in very good stead to do the latter.
The British historians Phyllis Deane and WA Cole presented an incorrect estimate of Britain’s 18th-19th century trade volume, by leaving out re-exports completely. I found that by 1800 Britain’s total trade was 62% higher than their estimate, on applying the correct definition of trade including re-exports, that is used by the United Nations and by all other international organisations.
While interesting, and certainly expected for such an old book, re-exporting necessarily adds value to goods.
When the Crown took over from the Company, from 1861 a clever system was developed under which all of India’s financial gold and forex earnings from its fast-rising commodity export surplus with the world, was intercepted and appropriated by Britain. As before up to a third of India’s rising budgetary revenues was not spent domestically but was set aside as ‘expenditure abroad’.
So, what does this mean? Britain appropriated all of India's earnings, and then spent a third of it aboard? Not exactly. She is describing home charges see Roy (2019) again:
Some of the expenditures on defense and administration were made in sterling and went out of the country. This payment by the government was known as the Home Charges. For example, interest payment on loans raised to finance construction of railways and irrigation works, pensions paid to retired officers, and purchase of stores, were payments in sterling. [...] almost all money that the government paid abroad corresponded to the purchase of a service from abroad. [...] The balance of payments system that emerged after 1800 was based on standard business principles. India bought something and paid for it. State revenues were used to pay for wages of people hired abroad, pay for interest on loans raised abroad, and repatriation of profits on foreign investments coming into India. These were legitimate market transactions.
Indeed, if paying for what you buy is drain, then several billions of us are drained every day.
The Secretary of State for India in Council, based in London, invited foreign importers to deposit with him the payment (in gold, sterling and their own currencies) for their net imports from India, and these gold and forex payments disappeared into the yawning maw of the SoS’s account in the Bank of England.
It should be noted that India having two heads was beneficial, and encouraged investment per Roy (2019):
The fact that the India Office in London managed a part of the monetary system made India creditworthy, stabilized its currency, and encouraged foreign savers to put money into railways and private enterprise in India. Current research on the history of public debt shows that stable and large colonies found it easier to borrow abroad than independent economies because the investors trusted the guarantee of the colonist powers.

Against India’s net foreign earnings he issued bills, termed Council bills (CBs), to an equivalent rupee value. The rate (between gold-linked sterling and silver rupee) at which the bills were issued, was carefully adjusted to the last farthing, so that foreigners would never find it more profitable to ship financial gold as payment directly to Indians, compared to using the CB route. Foreign importers then sent the CBs by post or by telegraph to the export houses in India, that via the exchange banks were paid out of the budgeted provision of sums under ‘expenditure abroad’, and the exporters in turn paid the producers (peasants and artisans) from whom they sourced the goods.
Sunderland (2013) argues CBs had two main roles (and neither were part of a grand plot to keep gold out of India):
Council bills had two roles. They firstly promoted trade by handing the IO some control of the rate of exchange and allowing the exchange banks to remit funds to India and to hedge currency transaction risks. They also enabled the Indian government to transfer cash to England for the payment of its UK commitments.

The United Nations (1962) historical data for 1900 to 1960, show that for three decades up to 1928 (and very likely earlier too) India posted the second highest merchandise export surplus in the world, with USA in the first position. Not only were Indians deprived of every bit of the enormous international purchasing power they had earned over 175 years, even its rupee equivalent was not issued to them since not even the colonial government was credited with any part of India’s net gold and forex earnings against which it could issue rupees. The sleight-of-hand employed, namely ‘paying’ producers out of their own taxes, made India’s export surplus unrequited and constituted a tax-financed drain to the metropolis, as had been correctly pointed out by those highly insightful classical writers, Dadabhai Naoroji and RCDutt.
It doesn't appear that others appreciate their insight Roy (2019):
K. N. Chaudhuri rightly calls such practice ‘confused’ economics ‘coloured by political feelings’.

Surplus budgets to effect such heavy tax-financed transfers had a severe employment–reducing and income-deflating effect: mass consumption was squeezed in order to release export goods. Per capita annual foodgrains absorption in British India declined from 210 kg. during the period 1904-09, to 157 kg. during 1937-41, and to only 137 kg by 1946.
Dewey (1978) points out reliability issues with Indian agriculutural statistics, however this calorie decline persists to this day. Some of it is attributed to less food being consumed at home Smith (2015), a lower infectious disease burden Duh & Spears (2016) and diversified diets Vankatesh et al. (2016).
If even a part of its enormous foreign earnings had been credited to it and not entirely siphoned off, India could have imported modern technology to build up an industrial structure as Japan was doing.
This is, unfortunately, impossible to prove. Had the British not arrived in India, there is no clear indication that India would've united (this is arguably more plausible than the given counterfactual1). Had the British not arrived in India, there is no clear indication India would not have been nuked in WW2, much like Japan. Had the British not arrived in India, there is no clear indication India would not have been invaded by lizard people, much like Japan. The list continues eternally.
Nevertheless, I will charitably examine the given counterfactual anyway. Did pre-colonial India have industrial potential? The answer is a resounding no.
From Gupta (1980):
This article starts from the premise that while economic categories - the extent of commodity production, wage labour, monetarisation of the economy, etc - should be the basis for any analysis of the production relations of pre-British India, it is the nature of class struggles arising out of particular class alignments that finally gives the decisive twist to social change. Arguing on this premise, and analysing the available evidence, this article concludes that there was little potential for industrial revolution before the British arrived in India because, whatever might have been the character of economic categories of that period, the class relations had not sufficiently matured to develop productive forces and the required class struggle for a 'revolution' to take place.
A view echoed in Raychaudhuri (1983):
Yet all of this did not amount to an economic situation comparable to that of western Europe on the eve of the industrial revolution. Her technology - in agriculture as well as manufacturers - had by and large been stagnant for centuries. [...] The weakness of the Indian economy in the mid-eighteenth century, as compared to pre-industrial Europe was not simply a matter of technology and commercial and industrial organization. No scientific or geographical revolution formed part of the eighteenth-century Indian's historical experience. [...] Spontaneous movement towards industrialisation is unlikely in such a situation.
So now we've established India did not have industrial potential, was India similar to Japan just before the Meiji era? The answer, yet again, unsurprisingly, is no. Japan's economic situation was not comparable to India's, which allowed for Japan to finance its revolution. From Yasuba (1986):
All in all, the Japanese standard of living may not have been much below the English standard of living before industrialization, and both of them may have been considerably higher than the Indian standard of living. We can no longer say that Japan started from a pathetically low economic level and achieved a rapid or even "miraculous" economic growth. Japan's per capita income was almost as high as in Western Europe before industrialization, and it was possible for Japan to produce surplus in the Meiji Period to finance private and public capital formation.
The circumstances that led to Meiji Japan were extremely unique. See Tomlinson (1985):
Most modern comparisons between India and Japan, written by either Indianists or Japanese specialists, stress instead that industrial growth in Meiji Japan was the product of unique features that were not reproducible elsewhere. [...] it is undoubtably true that Japan's progress to industrialization has been unique and unrepeatable
So there you have it. Unsubstantiated statistical assumptions, calling any number you can a drain & assuming a counterfactual for no good reason gets you this $45 trillion number. Hopefully that's enough to bury it in the ground.
1. Several authors have affirmed that Indian identity is a colonial artefact. For example see Rajan 1969:
Perhaps the single greatest and most enduring impact of British rule over India is that it created an Indian nation, in the modern political sense. After centuries of rule by different dynasties overparts of the Indian sub-continent, and after about 100 years of British rule, Indians ceased to be merely Bengalis, Maharashtrians,or Tamils, linguistically and culturally.
or see Bryant 2000:
But then, it would be anachronistic to condemn eighteenth-century Indians, who served the British, as collaborators, when the notion of 'democratic' nationalism or of an Indian 'nation' did not then exist. [...] Indians who fought for them, differed from the Europeans in having a primary attachment to a non-belligerent religion, family and local chief, which was stronger than any identity they might have with a more remote prince or 'nation'.

Bibliography

Chakrabarti, Shubra & Patnaik, Utsa (2018). Agrarian and other histories: Essays for Binay Bhushan Chaudhuri. Colombia University Press
Hickel, Jason (2018). How the British stole $45 trillion from India. The Guardian
Bhuyan, Aroonim & Sharma, Krishan (2019). The Great Loot: How the British stole $45 trillion from India. Indiapost
Monbiot, George (2020). English Landowners have stolen our rights. It is time to reclaim them. The Guardian
Tsjeng, Zing (2020). How Britain Stole $45 trillion from India with trains | Empires of Dirt. Vice
Chaudhury, Dipanjan (2019). British looted $45 trillion from India in today’s value: Jaishankar. The Economic Times
Roy, Tirthankar (2019). How British rule changed India's economy: The Paradox of the Raj. Palgrave Macmillan
Patnaik, Utsa (2018). How the British impoverished India. Hindustan Times
Tuovila, Alicia (2019). Expenditure method. Investopedia
Dewey, Clive (2019). Changing the guard: The dissolution of the nationalist–Marxist orthodoxy in the agrarian and agricultural history of India. The Indian Economic & Social History Review
Chandra, Bipan et al. (1989). India's Struggle for Independence, 1857-1947. Penguin Books
Frankema, Ewout & Booth, Anne (2019). Fiscal Capacity and the Colonial State in Asia and Africa, c. 1850-1960. Cambridge University Press
Dalal, Sucheta (2019). IL&FS Controversy: Centre is Paying Up on Sovereign Guarantees to ADB, KfW for Group's Loan. TheWire
Chaudhuri, K.N. (1983). X - Foreign Trade and Balance of Payments (1757–1947). Cambridge University Press
Sunderland, David (2013). Financing the Raj: The City of London and Colonial India, 1858-1940. Boydell Press
Dewey, Clive (1978). Patwari and Chaukidar: Subordinate officials and the reliability of India’s agricultural statistics. Athlone Press
Smith, Lisa (2015). The great Indian calorie debate: Explaining rising undernourishment during India’s rapid economic growth. Food Policy
Duh, Josephine & Spears, Dean (2016). Health and Hunger: Disease, Energy Needs, and the Indian Calorie Consumption Puzzle. The Economic Journal
Vankatesh, P. et al. (2016). Relationship between Food Production and Consumption Diversity in India – Empirical Evidences from Cross Section Analysis. Agricultural Economics Research Review
Gupta, Shaibal (1980). Potential of Industrial Revolution in Pre-British India. Economic and Political Weekly
Raychaudhuri, Tapan (1983). I - The mid-eighteenth-century background. Cambridge University Press
Yasuba, Yasukichi (1986). Standard of Living in Japan Before Industrialization: From what Level did Japan Begin? A Comment. The Journal of Economic History
Tomblinson, B.R. (1985). Writing History Sideways: Lessons for Indian Economic Historians from Meiji Japan. Cambridge University Press
Rajan, M.S. (1969). The Impact of British Rule in India. Journal of Contemporary History
Bryant, G.J. (2000). Indigenous Mercenaries in the Service of European Imperialists: The Case of the Sepoys in the Early British Indian Army, 1750-1800. War in History
submitted by GaslightEveryone to u/GaslightEveryone [link] [comments]

Forex Trading Platform India

spectreindia.co is a financial online trading platform that allows traders to trade in a high frequency with low risk in the financial markets. By utilizing cutting-edge, crowd-sourced technology, spectreindia.co matches traders against an embedded liquidity pool or other traders on the Spectre trading platform. 24 hour liquidity and zero-opportunity for fraud is ensured in this unique model! For more info, contact us today.
Forex Trading Platform India
submitted by spectretrading to u/spectretrading [link] [comments]

FF News: Bollywood Mafia 'linked,' to SSR Murder...??

“Captain Covid,’ investigates “Sudden death,’ of
Sushant Singh Rajput…??
by Fehmeda Thokan
(13 September 2020) Captain Covid, Mr. Omar Abdulla
South Africa’s leading Covid warrior
arrived in Mumbai last week on investigations of the
‘sudden death,’ of
Bollywood Superstar, Sushant Singh Rajput.
Rajput who was found ‘hanged to the ceiling fan,’ of his Bollywood
apartment
Is said to have been murdered by his girlfriend
Rhea Chakraborty.
Chakraborty who spoke to Footprints in Mumbai, says that she loved
Sushant and
never meant to harm him by feeding him drugs that could
lead to his death.
“It was suicide, he could not take the pressure, he was heart-broken,
and he was
not making money in Bollywood. He was planning a career
in farming.’
Abdulla who met with Sushant earlier in 2016, says that Sushant
was becoming
The King of Bollywood after previous hero’s Shar Rukh Khan,
Salman Khan, Aamir
Khan and Saif Ali Khan was falling.
“Perhaps it was the Bollywood Mafia who killed Sushant or his
devious fiancé,
Rhea.’
Speaking to The Bollywood Times, local businessman Mr. Iqbal Sookal, noted that
It’s been f o u r months of investigations by The Mumbai Police and CBI,
and yet India
cannot ‘come to terms,’ with the death of Sushant Singh Rajput.
“Everyday I shed a tear because of the murder that took place.
We pray for justice for Sushant and bring their murderer killers to justice.’
The Omar Abdulla Group which owns shares into Bitcoin SA, Forex SA,
Instagram SA, TikTok SA, Jobs SA, Footprints SA and other shareholding is
said to be one of South Africa’s leading and fastest growing companies.
“With Covid cases throughout the world coming down,
markets are starting to boom, and we could see an even bigger
jump in growth December 2020.’ the company read on
their website.
Another resident Ms. Farah Ramlall who spoke to India Today leaped that
the death of Sushant will be mourned by millions
of his fans throughout the world.
“India has lost an iconic hero during these tough
Covid Times.’
Whilst markets start to open up and boom, The Omar Abdulla Group continues
to bring future news and investments today, with ongoing
interest into the Asian and European markets.
“One has to learn from the story of Sushant that one day one can have
everything and the next nothing. Lets invest wisely into our futures,
so that we protect the ones we love.’ Poked The Saturday Star.
Captain Covid, Mr. Omar Abdulla ended by saying that he was ‘happy,’
that world cases were coming down, amid a vaccine being found soon.
“Whilst thousands have died from Covid, we should remember the story
of Sushant Singh Rajput to honour our heroes during
these tough times…’
submitted by footprints888 to u/footprints888 [link] [comments]

Forex Trading Online India

spectreindia.co is a financial online trading platform that allows traders to trade in a high frequency with low risk in the financial markets. By utilizing cutting-edge, crowd-sourced technology, spectreindia.co matches traders against an embedded liquidity pool or other traders on the Spectre trading platform. 24 hour liquidity and zero-opportunity for fraud is ensured in this unique model! For more info, contact us today.
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submitted by spectretrading to u/spectretrading [link] [comments]

Best Forex Trading Platform India

spectreindia.co is a financial online trading platform that allows traders to trade in a high frequency with low risk in the financial markets. By utilizing cutting-edge, crowd-sourced technology, spectreindia.co matches traders against an embedded liquidity pool or other traders on the Spectre trading platform. 24 hour liquidity and zero-opportunity for fraud is ensured in this unique model! For more info, contact us today.
Best Forex Trading Platform India
submitted by spectretrading to u/spectretrading [link] [comments]

Forex Trading Platform India

spectreindia.co is a financial online trading platform that allows traders to trade in a high frequency with low risk in the financial markets. By utilizing cutting-edge, crowd-sourced technology, spectreindia.co matches traders against an embedded liquidity pool or other traders on the Spectre trading platform. 24 hour liquidity and zero-opportunity for fraud is ensured in this unique model! For more info, contact us today.
Forex Trading Platform India
submitted by spectretrading to u/spectretrading [link] [comments]

Dream killed due to lack of $10,000 ( Story of a Struggled entrepreneur from India)

At the age of 19, I heard a Word, that Changed my Life: That was Entrepreneurship. It transformed me into a person that was never before.
Foodvail.pvt: back in 2016, we(Me and my brother) started our first food delivery startup in India, state: Odisha, Dist: Kandhamal without any external funding. Service was to "Provide Healthy and hygienic breakfast to the student". We managed to scale it to 4 schools, Everybody loved it first but very soon startup rolled towards bankruptcy due to profit thin to none. Finally, it shut down. We eventually lost all our money.
Coming out from a poor family, it was hard to start over.
After that, We tried lots of online business: Launching Application "Forber": service was to provide a short summary of the books. it didn't work out for us.
After, GIft card service site, Affiliate marketing, Dropshipping, offline cake service, investing in stocks, and forex market...
The feelings of failure were demoralizing and feelings of death but the experience was diamond.
TODAY...
The journey of 4 years was super hard but along the way, it gave some of the important lessons in life.
that is "Never Quit".
If I had $10,000 Now, What would I have done????
Problem: Now 59 Apps got banned in India along with TikTok due to privacy issues. Lots of content creators lost their earning source.
Solution: Building a native Video social app for India.
Opportunity: No Such Reliable app present in the market
$4500: app development in India( Fully featured)
$250-300: AWS server cost/mon: ( at least for a year): $3600
$300: Startup registration
$1600: reaching out top 5 tiktokers in India and approach for review and promotion.
If you are reading this, and if you want to support this dream to be a reality, you can support us (brothers) to achieve our goal. your little contribution is the constructor of our dream.
Paypal: [email protected]
submitted by Heson-kumar-naik to donationrequest [link] [comments]

Million Dream Killed by lack of $10,000 (Story of Struggled Entrepreneur from India)

At the age of 19, I heard a Word, that Changed my Life: That was Entrepreneurship. It transformed me into a person that was never before.
Foodvail.pvt: back in 2016, we(Me and my brother) started our first food delivery startup in India, state: Odisha, Dist: Kandhamal without any external funding. Service was to "Provide Healthy and hygienic breakfast to the student". We managed to scale it to 4 schools, Everybody loved it first but very soon startup rolled towards bankruptcy due to profit thin to none. Finally, it shut down. We eventually lost all our money.
Coming out from a poor family, it was hard to start over.
After that, We tried lots of online business: Launching Application "Forber": service was to provide a short summary of the books. it didn't work out for us.
After, GIft card service site, Affiliate marketing, Dropshipping, offline cake service, investing in stocks, and forex market...
The feelings of failure were demoralizing and feelings of death but the experience was diamond.
TODAY...
The journey of 4 years was super hard but along the way, it gave some of the important lessons in life.
that is "Never Quit".
If I had $10,000 Now, What would I have done????
Problem: Now 59 Apps got banned in India along with TikTok due to privacy issues. Lots of content creators lost their earning source.
Solution: Building a native Video social app for India.
Opportunity: No Such Reliable app present in the market
$4500: app development in India( Fully featured)
$250-300: AWS server cost/mon: ( at least for a year): $3600
$300: Startup registration
$1600: reaching out top 5 tiktokers in India and approach for review and promotion.
If you are reading this, and if you want to support this dream to be a reality, you can support us (brothers) to achieve our goal. your little contribution is the constructor of our dream.
Paypal: [email protected]
submitted by Heson-kumar-naik to u/Heson-kumar-naik [link] [comments]

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submitted by GiuliettaShop to Popify [link] [comments]

Facing an unprecedented crisis, India has ratcheted up its forex reserves like never before

This is the best tl;dr I could make, original reduced by 69%. (I'm a bot)
The country's foreign exchange reserves are at an all-time high of over $500 billion, according to data released by India's central bank on June 12.The strong forex pool provides stability in today's grim economic conditions.
The rise of forexThe reasons behind the swelling forex reserves are India's shrinking import bill, an increase in foreign direct investments, improved inflows from foreign portfolio investors into the stock and debt markets, and the Reserve Bank of India's buying spree.
"These assets, which are in other foreign currencies, are appreciating against the dollar and this too is pushing up the forex reserve valuations," he said.
Friends with benefitsThe biggest beneficiary of strong forex reserves is the Indian currency.
Pointing to 2013 when the Indian rupee depreciated by more than 20% in a span of just 4-6 weeks, Chari states that "The size of the forex reserves with respect to the current account deficit and portfolio flows becomes a key determinant of whether the currency can come under a speculative attack."
Apart from protecting the rupee, large forex reserves act as an assurance to the world that India can meet its external obligations like payment for imports.
Summary Source | FAQ | Feedback | Top keywords: forex#1 Reserve#2 foreign#3 Indian#4 India#5
Post found in /Economics.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

Is 200$ unlucky for me? Is there anyone who can understand/feel my pain?😢

Hello friends my name is Nitin Kumar. Im from India I am sitting here 6000 km away from my family in Singapore. Why i don't even understand. According to a student I started Forex Trading in 2017.And from 2017 till today 2020 I did not earn even a single dollars.Or to say that I have not earned a dollar, but have earned experience within these 3 years.But our experience is not enough to fill our stomach, for that we also need to earn.Initially I practiced with the demo for 6 months. After that, I opened a real account, that too with the help of my friends, I borrowed money from my friends and by doing so I opened my account for $ 200.And from the beginning till now, I did not earn even a single dollar. My account went to drawdown and went to $ 20, after that I brought it back to $ 200 and it continued for 3 years and I was very disappointed and due to this I I thought I would have to earn, so I came to Singapore and in Singapore I do a waiter's job which is not enough for me. I want to become a forex trader. But i don't understand what else i should do.
I am very tired. I need help. I need knowledge. I need friends who can explain to me what else I should do, friends please help me tell me how I am a successful trader.
submitted by Nonu0014 to Forex [link] [comments]

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Forex Trading For Beginners (Full Course) - YouTube

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