V O L U M E 1 0 , J A N U A R Y 2 0 2 1 STRICTLY STREET The Official Newsletter of AAMDANI

IMPACT OF TAKEAWAYS COVID - 19 ON Impact of Covid- THE INDIAN 19 on Economy ECONOMY Female Business The COVID-19 pandemic has Tycoon spread with alarming speed, Scam 1992 infecting millions and bringing The story of economic activity to a near- Aditya Mukarji standstill as countries imposed tight restrictions on movement to halt the spread of the virus. As the health and human toll grows, the economic damage is already evident and represents the largest economic shock the POTENTIAL PLUSES world has experienced in In a post-pandemic decades. world, many companies The immediate impact is on and governments will sectors such as transport, seek security from entertainment, tourism and, diversity and will put most damagingly, goods and back in the services export. investment spotlight. Uncertainty has led to a flight India should complete of foreign capital from the the policy package with stock market. which it intends to woo In the medium term, if the firms fleeing China. virus continues to spread both New Delhi should within and outside India, the benefit from the global existing slowdown in oil price war. investment and consumption The expected windfall will further worsen. in revenue should be More importantly, a longer used carefully to plug lasting pandemic will badly gaps the virus will leave hurt India’s important service in the economy. sector. The barriers that follow the present pandemic point to a new paradigm of a globally integrated world. India, for long a reluctant globaliser, will find this new environment easy to accept, and should plan means to use this to its advantage. FEMALE BUSINESS TYCOON

SHOBHANA BHARTIA Chairperson of Business Woman of the Year, 2007

Shobhana Bhartia is the Chairperson as well as the editorial head of Hindustan Times, one of the most popular and oldest newspapers across the country . The 61 years old Shobhana Bhartia has her hometown in Kolkata, and completed her schooling as well as graduation from there itself. Additionally, she has been a popular face in Women Awarded with various Empowerment and Human prestigious awards including Resource Development Padmashri, Government of committees, as well as was a India's National Award for nominated member of Rajya excellence in Journalism, Sabha. Mrs. Shobhana Bhartia was She has also recently taken also given the award of charge as the Pro Chancellor of Business Woman of the Year Birla Institute of Technology in 2007. and Science, Pilani and is the current chairperson of Endeavor India. FINTOONS

WISE SAYINGS

“You must gain control over your money or the lack of it will forever control you.” – Dave Ramsey

"It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for." — Robert Kiyosaki SCAM 1992 What was the securities scam 1992 about? • , a well known registered broker along with his partners manipulated the and defrauded banks of nearly Rs.4000 crore. • He allegedly colluded with WHO EXPOSED THE 1992 bank employees to get fake BRs SCAM ? issued and used them to get • Journalist was other banks lend him money particularly drawn to the fleet under government securities. of cars owned by Harshad • The amount received was put Mehta. into the stock market to juice • This led her to investigate up the share prices by up to a how Harshad Mehta earned staggering 4400 percent. such wealth. • Mehta then sold these shares • Sucheta Dallas exposed this at a profit and returned the scam on 23rd April 1992 in principal amounts to banks. the columns of Times of • As a result, BSE sensex rose India. from 2000 mark in January to 4000 mark in March 1992. IMPACT OF THE SCAM • This wall of money fuelled • Many shares became massive speculation in stocks "tainted" shares and overnight between April 1991 and May they became worthless piece 1992, and caused a near of paper. fourfold jump in the BSE • Holding banks of fake BRs Sensex. had to face losses. "STOCK MARKET can also be • BR was then removed by called as SHOCK MARKET RBI. because it can surprise you anytime • The chairman of Vijaya and you should better be prepared bank commited suicide. to face it better." ADD TO YOUR VOCAB !

Angel Investor An angel investor is a high net worth individual who provides financial backing for small startups or TEST YOUR entrepreneurs, typically in exchange for ownership AWARENESS equity in the company. Q1- Which group took charge Often, angel investors are of the Mangaluru airport on found among an 50-year lease? entrepreneur's family and friends. Q2 - Which district court has become the first in India to Nanny Tax accept e-payments? A nanny tax is a federal tax paid by people who employ Q3 - The Indian Railways has household employees and decided to grant how many pay wages over a certain percentage concessions in amount. In 2020, for cash passenger fares to transgender wages of $2200 or more per senior citizens? employee, social security and Medicare taxes must be Q4 - The 22nd All India withheld at a rate of 15.3%, Institute of Medical Sciences with the employer and (AIIMS) will be set up in which employee each paying half state, as per the Interim (7.65%). Budget 2019-20?

Q5 - The annual investment limit under the Public Provident Fund (PPF) scheme is ? THE STORY OF ADITYA MUKARJI Aditya Mukarji, a 16-year-old is one of 17 young environmental activists from across the globe to have been honored by Action for Nature (AFN) as a 2020 International Young Eco- Hero. He is working to rid the world of single-use plastic. His door-to-door campaign He was recently allowed led 150 restaurants and cafes to intern with the United in NCR including the Park Nations Development and Lalit group of hotels, Programme. The UN Claridges, The Delhi Golf usually does not accept Club, The Gymkhana Club, interns below the age of PVR Cinemas, Old World 18, but made an Hospitality, Delhi Heights, exception. INOX cinemas, Country Inn He is determined to make Hotels (Brentwood the world a cleaner and Hospitality), JW Marriott greener place. Aerocity, Beercafe, Mamagoto, Clocktower, Sakleys, JSW Steel, and The Big Chill to go plastic-free ANSWERS TO "TEST and averted the use of more YOUR AWARENESS" than 26 million plastic straws. 1.Adani Group 2.Pune SOURCES 3.40 % 1. The Economic Times 4.Haryana 5.R.s. 1.5 Lakh 2.Wikipedia 3.