top of page

By:

Quaid Najmi

4 January 2025 at 3:26:24 pm

Uddhav tears into BJP’s claim

Mumbai:  Shiv Sena (UBT) President Uddhav Thackeray on Tuesday launched a blistering, wide-ranging attack on the Bharatiya Janata Party-led governments at the Centre and in the state, targeting what he termed as a ‘toxic political climate’, rising crimes against women, and a ‘hire-and-fire’ culture hurting workers. Addressing the 58th annual general meeting of the Bharatiya Kamgar Sena, Thackeray delivered a strong political cocktail laced with jibes, concerns over labour rights, women’s...

Uddhav tears into BJP’s claim

Mumbai:  Shiv Sena (UBT) President Uddhav Thackeray on Tuesday launched a blistering, wide-ranging attack on the Bharatiya Janata Party-led governments at the Centre and in the state, targeting what he termed as a ‘toxic political climate’, rising crimes against women, and a ‘hire-and-fire’ culture hurting workers. Addressing the 58th annual general meeting of the Bharatiya Kamgar Sena, Thackeray delivered a strong political cocktail laced with jibes, concerns over labour rights, women’s issues, unemployment, and governance priorities. Attacking Chief Minister Devendra Fadnavis for his recent remarks about ‘tearing the burqas’ of the Opposition, Thackeray questioned sarcastically: “We are Hindus… So what ‘burqas’ are you going to rip off? Were you even present in the Lok Sabha?” Referring to atrocities on women, Thackeray sharply questioned the government’s priorities saying while the CM is campaigning in other states, women are being molested right here, fake babas are multiplying and drug rackets are flourishing in the state. On BJP’s claims of commitment to women’s reservation, the SS (UBT) chief asked “why the President (Droupadi Murmu) was not invited to key national events such as the inauguration of the new Parliament building or the consecration of the Ram Temple in Ayodhya”. “This is not a new issue. We are ready… Implement women’s reservation today,” Thackeray asserted. Veering to national politics, Thackeray said that the BJP today lacks personalities of (the late) Arun Jaitley’s stature, and described West Bengal CM Mamata Banerjee as “a fighting tigress who is bound to win”. He claimed that ‘two lakh CRPF personnel’ were deployed in West Bengal while barely 20,000 were stationed in the violence-hit Manipur. “Security forces were once used by Sardar Vallabhbhai Patel for integrating states into the Union, but now they are being used to win elections,” Thackeray said. On the alleged misuse of central security agencies, Thackeray dared the BJP to ‘set aside the CBI and ED’ and face the elections in a fair fight. “You deploy security forces to ensure your party wins as you lack the capability to win on your own merits, or unleash the ED-CBI. It is better to live like a tiger for one day than as a goat for 100 days,” said Thackeray. Alluding to the debates triggered by RSS Sarsanghchalak Mohan Bhagwat’s views on population, he asked: “Encouraging more children is fine - but who will feed them? What about unemployment problems?” Thackeray expressed concerns over delimitation based on population, warning it could skew political representation. “Some states are implementing family planning programmes quite effectively… Is practicing family planning now considered a crime?” Turning to the distress faced by the working classes, he flayed the current employment model as a ‘constant cycle of hire-and-fire’, with the government ignoring the security of workers. “Why are workers being compelled to leave the state, or even the country, for employment. They are the architects of the nation’s destiny. Now reports emerge that workers from north India are being employed in Dubai. The country is calling them to ‘return’. They ignored the calls, preferring to die by a bomb rather than returning to India only to die of unemployment,” said Thackeray, in a swipe at Prime Minister Narendra Modi. He compared the current bout of global tensions, including the ongoing Iran-United States war, as a repetitive spectacle, triggering multi-fold domestic economic anxieties.

India’s New Money Rules, Explained

From UPI payments to credit cards and loans, recent financial changes are making everyday transactions safer, faster and easier to manage.

India’s financial system is changing quickly, especially with the growth of digital payments and stricter banking rules. Recent updates in UPI payments, credit cards and loans are designed to make transactions safer, more transparent and easier for everyone. From paying a grocery bill to applying for a home loan, these changes are beginning to affect the way people manage money in their everyday lives. But what do these updates actually mean for common people? Let’s break it down.


UPI Gets Smarter

The Unified Payments Interface (UPI) has become an integral part of daily life, whether for paying grocery bills or transferring money to friends and family. Recent changes have made the platform more versatile, with easier linking of credit cards, higher transaction limits for select payments such as education fees and taxes, and improved auto-pay features for bills and subscriptions.In practical terms, UPI is no longer just a payment tool — it is becoming a more complete financial convenience platform.For users, these upgrades mean faster payments, reduced dependence on cash, and greater convenience. For small businesses, they enable instant settlements and more efficient cash-flow management.


Tighter Security Checks

As digital payments continue to grow, security has become a top priority. The Reserve Bank of India (RBI) has introduced stricter safeguards, including stronger authentication through OTPs, PINs and biometrics, instant alerts for every transaction, and improved fraud-detection systems.


These measures are designed to reduce the risk of fraud, but users still need to remain cautious and avoid sharing OTPs or other sensitive details.


Greater User Control

Credit card usage is becoming more transparent and user-friendly, with new rules aimed at giving customers greater control over how their cards are issued and managed. Under these changes, no card can be activated without the user’s explicit consent, banks cannot raise credit limits without prior approval, and customers must be given clearer information about charges, interest rates and penalties.These measures are expected to reduce hidden surprises, improve transparency and help users keep better control over their spending.


Borrowing Gets Easier

Loan rules have also been updated to make borrowing easier and more structured, particularly for those seeking housing and personal loans. Housing finance has become more accessible, especially for middle-income groups, while loan approvals are being processed faster through simplified procedures and better coordination between banks and financial institutions.For individuals, these changes mean easier access to funds, whether for buying a home, meeting urgent financial needs or managing personal expenses more efficiently.


Transparency in Income and Taxes

One of the biggest impacts of digital payments is the greater transparency they bring to financial transactions. Every payment leaves a digital trail, making it easier to track income and expenses, file taxes more accurately, and reduce the chances of disputes with tax authorities.At the same time, this also means that individuals and businesses must be more careful about maintaining proper records and reporting income correctly.


Small Businesses Boost

Small shops and local businesses are among the biggest beneficiaries of the shift to digital payments. QR code-based transactions have made payments simpler, instant settlements have improved cash flow, and easy access to transaction histories has made it easier for businesses to track sales and manage daily operations more efficiently.


At the same time, small business owners should remain mindful of service charges and regularly review their accounts to avoid unnecessary costs or discrepancies.


Overall, these changes are making India’s financial system safer, faster, and more transparent. For everyday users, it means more convenience and control. For businesses, it opens up new opportunities for growth.


The key is simple: stay informed, use digital tools wisely, and keep your financial records in order.


(The writer is a Chartered Accountant based in Thane. Views personal.)


Comments

bottom of page