EP-67 | Demystifying Rs 2000 note withdrawal, TCS, LRS & managing finance with Monika Halan

With the Reserve Bank Of India announcing the withdrawal of Rs 2000 notes from circulation as part of a currency management exercise and allowing people to exchange or deposit them in their accounts by September 30, 2023. People are in a fix over the procedure, the number of notes which can be exchanged by a person per day among others and what will be the fate of notes after the central bank's deadline. In this special edition of Podcast with Smita Prakash, the RBI's decision of Rs 2000 note withdrawal and its impact are discussed in detail with Monika Halan who is a financial expert and chairperson of the SEBI advisory committee for Investor Protection and Education Fund. Monika also talks about the controversy around TCS and LRS and the social media outrage which happened after a government decision came to fore.
#2000NoteBan #PersonalFinance #ANIPodcastWithSmitaPrakash #Podcast
The full episode is also available here:
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Timestamps:
00:00- Introduction
05:00- Rs 2000 note withdrawal controversy
19:00- TCS, Credit cards & LRS
25:00- SEBI & Hindenburg report on Adani
36:00 -Indian Women and Fixed deposit Vs Gold
48:00- Investment advice for Women and Youth
1:01:55 -2008 Global Crisis
1:07:30- Indian growth story & China
1:11:00- Modi govt’s macro policies in Election year
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[@gauravshonik8562]

One ought not interject when someone as smart as Monika is speaking. This could have been a much better podcast had Smita been the only one interviewing. Still, thanks a lot.

[@sparklinglotus]

Yeah agree that the guy is kind of annoying actually

[@PGS-ns7iy]

It's her son, if i am not wrong.

[@nirupasrinivas5364]

Yes I agree too

[@apaararora2208]

Totally agree. And that’s why it is called “Smita Prakash” podcast. Big fan. But that constant interruption was not good. He was correcting her which I understand but we also knew the gist of the point Smita was trying to convey and those corrections were uncalled for. It’s one team. Not an argument to win. Just my two cents.

[@ninab1789]

The guy interjecting is very annoying. You should never interrupt someone while speaking. Literally took over the podcast from Smita. He was only ever supposed to be a supporting cast yet acted like a lead interviewer. Also his questions were rubbish!

[@dilchahtahai9232]

Brilliant talk... One suggestion though.. please don't complete the speaker's sentences.. let them speak ... They are invited here to talk and share their thoughts and learnings.. so let them and let's not speak over or interrupt their flow. Hope this suggestion is taken constructively.

[@ldnoida001]

Monica Halan's advice was brilliant. She speaks with such clarity and confidence. Her expressions are so positive and warm too. Keep up the good work all of you. Thank you Smita Prakash.

[@Growthhub3]

Bro just let her complete. She's the one we are here for. Just don't.

[@samaya3532]

Exactly

[@adityapatnaik7078]

Finally a good guest on ANI. Monika is a rare gem, who speaks her mind and corroborates the claims with credible numbers

[@FreeYourImagination]

The podcast would've been more interesting if Ishant Prakash was less vocal. It seemed as if he was interrupting Monika not just on responses to the questions posed to her but also commenting on his own questions. He needs to understand he is the interviewer and not the not the one being interviewed. And also his voice is so loud as if he's in an animated group discussion for a job interview where his voice needs to be heard to get through the next round.

[@lawanyaarvind2810]

Great podcast as long as Ms Halan gets to speak..

[@niketborade2]

Exactly

[@rashmikarnawat6315]

Smita Mam Thank you so much for this eye opening session. But I would seriously request you to have a Part 2 for this to give us more knowledge n understanding of money matters.🙏🏻

[@peruvembaramu]

Pragmatic talk by Mrs. Monika Halan. Thanks Smitaji. Hope much more people listen to these gems.

[@himanshut114]

1:10:16 ..... Judiciary is the real blockade..... Court is a den of nepotism

[@shubhamjadhav400]

Thanks for pointing ☝️

[@rush2vb]

After so long I listened to a podcast in which someone has talked very frankly about economics. Great listen and thank you Monica halan and hosts

[@Taeyangsmissingjacket]

Love Monica Ma’am’s advice for women! Financial independence is hardly talked about in Indian households. Teach your kids about saving and investing. Thankfully, things are changing with the newer generations.

[@srinivasan6532]

Couldn’t agree more

[@1991kpp]

A very constructive podcast indeed. A lot of clarification was exchanged on various issues bothering the commoner. A big thank you to all of you and especially the expert, Monika Halan, for her simple clarifications on burning issues. 🙏

[@kurianbabu2697]

Good speech

[@senturi9645]

The hosts are disturbing and interrupting Mrs HALAN sooooo much …..found it rude….not acceptable !!!!’ 14:21

[@amitkrmajumdar3633]

What an enlighting podcast.... Kudos to Smita to bring such informed financial expert Monica Halan along with her vast wealth of experience & knowledge.

[@naraharisharma8667]

😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊

[@harshmehta3089]

​@@naraharisharma8667 1 1

[@amits1512]

why is this guy constantly interrupting while the guest is trying to speak..

[@arjunps6776]

You don't know who he is 😂. Then you'll know why he interrupts.

[@arnabbiswas4832]

More than Monica Halan it was ishan who was speaking 😅

[@maheshannam358]

Would have been much more better conversation if it’s one-one interaction. Presence of 3rd person is interrupting a lot

[@nagarajkulkarni5873]

Agree with observation that may be one person interviewing and discussing would be far better. Secondly, dont understand the anxiety and fuss of ' kon sa note bahar jayega'...i think the govt has demonstrated strongly of stabilising the currency flow. And ensuring that there is no inconvenience or shortfall to aam junta

[@TheKansen]

Amazing podcast. She speaks with so much clarity without any drama or show off. Thank You!

[@gauravbhan]

Huge respect for the channel. But, the problem with the women such as our guest today is that rather than encouraging women to do better and sticking to that goal only, they start banishing men. I am all in for women, men, and young generation getting financial education and managing their money, but these people will slip in a conversation that puts the male gender down. Focus on making yourself better than putting other people responsible for your problems. Interestingly, these women do not have the capacity to hear an honest rebuttal.

[@stephanieellison7834]

One thing I learned about Demoney 1.0 in 2016 (though I was in America at the time) is to never carry the highest notes as a form of cash savings. I've never held 2000 Rs. notes and got rid of them as fast as I could or refused to accept the notes unless it was absolutely necessary. I'm a bit less strict about the 500s as well, but NOT MUCH LESS strict.

[@STPT-SaiBaba]

Smita, you are doing a great service to our nation.

[@maximus-ml7yc]

I dont know who this guy is, spoils every podcast he is in. Smita does such a fab job.

[@rohitbolia2185]

I absolutely love mam's podcast and wait patiently for new episodes. This was another great episode except the guy kept on interrupting. So freaking annoying.

[@aparnagandhi8044]

Stop interupting her!

[@abhinavkumar3411]

It was a great podcast ma'am. The guest was well read and knew what she was talking about. Please bring more guest like them. 😄

[@sudeshnaghoshal1511]

Monika ma'am book has big influence on my investing journey. Thank you Smita ji for this podcast.

[@hyperspaceinvader8916]

Monika Halan has been a beacon of light in my finance education journey through her books. Her personal finance book has helped me create a solid base to start my financial journey with. I will always be grateful to her for that. Thank you ANI for bringing her on this podcast.

[@uzwalkumarchatterjee7074]

Excellent interview....i so much hope and wish every indian - men , women and young adults view it and ponder over.... our nation needs skilled and positive minds , much more than religious and political affiliations.... Also , a Hats off to efforts by the government and an expectatio of less mistakes from their side... it will help shape our nation for the better. JAI HIND !

[@sumitradas6241]

Great discussion , the speaker explains and dissects these two sudden sudden decisions so clearly . Not shy of critiquing Thanks

[@Being-Idle]

Great Podcast loved it.😊

[@adidesrd]

One of the best podcasts on a topic that impacts one and all! Thank you Monika Halan !

[@rajendraprasadavvaru1082]

This is very interesting discussion through three or four people around the table, instead of a cacophony of seven or eight people shouting at each other..👍🎉🎉🎉🎉🎉🎉🎉🎉🎉

[@ramdevs9026]

Excellent Podcat Smitha! learnt a lot from the panel, keep them coming...

[@kksri14]

I am an Indian and live in the U.S. and am an avid listener of your podcasts. Reference to COVID relief provided by US Govt under President Biden and the student debt relief were done in a local context. There were good reasons behind both moves. I wish comments regarding these two in the podcast had been contextualized in the absence of which it appeared a bit cavalier.

[@davesprivatelounge]

These podcasts are such excellent sources of information

[@peeyushvibhu673]

Great conversation. Gave me a new perspective to plan my investment and understand govt. actions. Keep going ANI and Smita.

[@gauravpal4774]

Amazing podcast 💫 Ma'am, I listen to your every episode .. Your podcast is so informative and very authentic because you bring bright and nice people here.

[@rshas3]

The discussion about the soiled note theory was like a boat with a stuck rudder going round and round. At times all three were speaking simultaneously. Other soiled notes are replaced. The 2K was a temporary note. Probably a fixed amount was printed. Plain and simple.

[@pandmmehta1972]

Excellent discussion

[@jeetendrajoshi3751]

Very very thought provoking podcast shared with my beloved daughter and wife

[@sangeetasharma1243]

Thanks for the informative podcast.

[@nishantnadgyal589]

I really wish to see Monica mam again she just ticks all the interesting topics economics geopolitics wealth management and a unbiased view about government policies

[@khushalashar7046]

Ishan is very irritating.

[@Malshe]

Loved this one too. Monica Halan is clear, sharp and easy to understand.

[@peruvembaramu]

There is an incident in Mahabharatha that when Yudhiṣtira asked someone to come the next day, when that person had come for some charity, immeidately Bhima who was near him immedately rung the Common Bell and started making fun of his brother Yudhiṣtira, that he has won over Death. Yudhiṣtira immediately called the man who came for dāna and donated immediately. 🙏

[@RandomVideoClix]

You are a role model, Smithaji. Well balanced debate on an important matter that impacts the entire India.

[@janlhab2329]

Keep up the great Work !!. Ms Smitha Prakash. I have to say this is the world's best video podcast in quality of content.

[@diva8962]

Thanks maam for all your advice 😊

[@kantaprasad3208]

Very inspiring, enlightening and knowledge divulging about Stock markets.

[@csreddy1518]

very nice discussion.

[@VishNaik-cu8es]

I fully agree with Monica. I had my own brokerage firm, and I invested only in mutual funds and became a Lakho-pati. My wife and I are now surviving and traveling all over the world based on the investment returns. I feel that the good Lord has protected us, because of good karma.

[@nealgrover6112]

I learned a lot in this poscast. Thank for bringing someone this knowledgeable (Monika Halan) to this podcast.

[@nagamanit530]

Such a beautiful interview. Thanks to Smith Prakash !!

[@pardeepshori3355]

Great refreshing counterpoint to what is being said of this being purely to hasten counterfeit

[@madleon81]

India needs more hard work and better education guys… we get excited too quickly …

[@RameshPatel-ph3ie]

arrived from the bank to notice construction workers cashing 2000 notes in big amount without giving details or PAN Card or Aadhar😮

[@sumitradas6241]

As an elderly person with some health issues and bad eyesight and some failing cognitive abilities, one has prefore to deal in cash . So we have cash drawn from bank and sometimes forget stuff . I know of persons who are very upright, honest salaried taxpayers who have to keep cash for convenience but kept small amounts somewhere safe and forget in the demonetisation . I fear that some of us will have 2000 notes but these will only be discovered after their demise . The fitfalls of presuming that everyone is young , up and about . This should be stopped, it causes tremendous inconvenience to honest folks

[@venkateshr3634]

Very informative podcast

[@vidyakulkarni6899]

Long back I read an article 'अपनी पत्नी को विधवा समझ के अपने पैसो के मामले समझाएँ ' how true!!

[@tanvikapoor86]

If someone is studying abroad & they have 2000 rupee in cash. How can they exchange that money from another country?

[@divyapriyadarshini3683]

We need to take responsibility for growth , for which we need to support strong political stability.

[@dais85]

Like Monica’s clarity and in-depth knowledge on the issues discussed.

[@bdrajput1]

Really a high content....Tks for bringing this. I am a science student not much knowledge.....but do correct me on this lines on benefits of soing this: 1)If at all duplicate notes will be curbed. 2)Helps in liquidity. 3)Black money caught And ultimately helps economy of india. If i am right than i am prepare to go through the little pain for my country. Even pakistani eminent persons are appreciating this act of Our prime minister Mr Modiji. Please correct me if i am wrong.

[@PrashantSingh-gk2wu]

Another great episode.

[@ayushmalhotra123]

great podcast

[@devikumarkelkar6704]

Beautiful talk. Yeah. The interviewers need not intervene so much. She talks so well.

[@dharmeshparikh7837]

Interesting Podcast.

[@meghnabansal]

Wow what a podcast👏👏👏

[@dhaneshmalhotra4055]

Thank you Smita.

[@rajbaniwal3236]

Ms. Halan is a very bright mind. I totally agree with everything she said except that she spoke as a “Third Wave Feminist” when it came to women but at the same time gave credit to social customs, support of the family and what not. She didn’t need to bring this feminist thing into this debate unless she wanted to be in support of that. She isn’t. That bit sounded very superficial. Great mind and thoughts, hats of to her.

[@GaganMaheshwari0]

If needed, please have Ajit in the podcasts. He speaks only when required. This person disturbs the podcast flow.

[@nagatubein]

Many of the question by the co-host were really not the standard set by Ms smitha .This show was spot on the topic. But such questions confused what is the topic of this episode. Having good guest on the , the miss was going around, 2000 rupees, investments, death, etc etc. Good financial topic would have been better with a good financial mind

[@niketborade2]

Smita, this time you are not at your best interviewing mode, looks like today you are in the drawing room gossip mode. You interrupted the speaker more than trying to make them speak. SAD.

[@rajivkallianpur5106]

The interviewers interrupt too often. The need is to ask good probing questions. Instead of doing that, if you are going to keep sharing your gyaan, why bother inviting a guest?

[@manojmunishwar210]

Smita a very good show thanks to Monika, one question..india being a family oriented nation need not reach high per capita

[@satyendra3910]

Not many people are likely to have the 2000 rupee notes Exchange of notes should not have been allowed Those who don't pay tax should be asked to explain the source

[@yourmom9608]

We have courts to give relief anyway

[@arjunps6776]

Had great expectations from this podcast as I've read Monika's book and articles. But it was completely spoiled by the hosts who don't seem to know much about finance. More discussion on personal finance was needed. I think ANI is better off discussing China, Pakistan, Hindutva and other popular office canteen talk. No wonder financial literacy is a huge problem in India. Even the most educated journalists don't get it. And please don't have a third person in the podcast. He interrupts so much.

[@doctoranjaneyulu3875]

Exactly, the third person in this episode atleast is an unnecessary irritating interference

[@arnipskumar3245]

If You want specific financial advise, you should go elsewhere. This podcast was just what most Indians needed...not expert financial advise but....the right discussion

[@arununni]

Very good episode. Good idea to now bring in Mr Dhirendra Kumar from Value Research Online to demystify Mutual Funds

[@raviprasad653]

This could have been one of the best podcasts, IF the guest had an opportunity to complete her train of thoughts. Pls allow the guest to be the primary speaker. + The third person in the discussion is not a good listener himself (to nod vocally to what is being said), as this not only interrupts the train of thoughts of GUSEST but also to us listening as words gets overlapped.

[@adilakshmic]

It was a very interesting podcast and very useful as well. Monica brought out several useful points. I wish Smita was the only interviewer. Her colleague was just interjecting to demonstrate his knowledge on the subject. Bad interview behaviour

[@ravishankarjois]

How do you all know that all these decisions were sudden and there was no consultation process at all?!? Was Govt. Supposed to announce their before roling them out?

[@rohitkrishnamurti7098]

Investing Is one hell lot of subject . how To Start i don't know. Conversation is awesome .

[@vikramrahulsingh]

Very nice discussion. I don't agree with her opinions but she reasonably knowledgeable!

[@rsdwall466]

Please let the guest speak and not stope their answers. Specially the guy and to some extent smita maa'm were interrupting Monica ma'am so much. Please dont have this guy on podcast till he learns when to speak and when to just control his urge to interrupt esteemed guests.

[@shorts-yo6ew]

awesome 👍

[@amitkeithcorrea1]

I think her point which states frequent changes in policy and additional regulation certainly affect a country's reputation and perception of its stability. It will have an effect on FDA (foreign direct investment) and may have other repercussions as well !

[@harism5589]

There is advantage in putting money in 5 different banks if you live in US and have more than 250k amount in savings, checking or investment accounts. Because if a bank goes bankrupt, your money is safe and insured upto 250 k dollars. I do not know if there is such insurance in India.

[@AK-ny5bz]

Modi needs to change his Govt 's economic/tax policy advisors

[@nagarajuaddagulla]

Yes I agree, they need to do evaluate and then take a decision appropriately and not do dilly dallying

[@aalekhmaldikar3656]

58.55 - That expression of Ms Smita Prakash, omg, I haven't thought about it even now!😢

[@nandakumar5937]

Monica halan madam,i am your fan from many years.God bless you with health and prosperity.

[@michealanderson2282]

very sane person, require more financial advisors like Monica Halan.

[@anilkulkarni8636]

When the government introduced rs2000 note it was certain that it will be taken out from circulation because it is easier to horde large amounts of money in the denomination of 2000 notes

[@tanishqmairal]

Amazing her books are the best...

[@pramodkaimal967]

Hats off to Monika Halan to PUT Smitha Prakash to her place when Smitha went Hyper on effect on 500s and 100s

[@sanjaygokhale1507]

Great 👍

[@mitadas664]

Enlightening discussion! Only wished that the guy was quieter and resisted himself from displaying unsolicited wisdom over the guest speaker.

[@vintan7407]

my goodness please smita let her talk for some time at last, let her complete

[@joshidivyen8136]

Hi Smita, I am a great fan of your podcasts... can these be in hindi... a large audience can be benefit from these podcasts