AirPods
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I’m not an economist, or any kind of finance wizard. That said, here are the various angles I see from a more macro-economic point of view. There were two main areas in my opinion that were the target of this currency demonetization.
There is a secondary string of ‘benefits’ due to demonetization.
I want to address this aspect since it is being brought up a lot. It does seem, if you analyze the Government’s moves since 2014, that there is in fact a gradually increasing nudge towards a more cashless economy (not entirely, but significantly higher than it currently is). Between pushing the poor to open zero-balance zero-fee accounts, the RBI building a Unified Payments Interface (UPI) for peer-to-peer fund transfers between institutions and finally demonetization requiring money to be deposited back into banks, various areas are already seeing a rise in cashless transactions (cards, check, etc). That said, I do not believe demonetization single handedly solves this; India is still largely a cashless economy. Once lies reduce, cash starts to find its way bank in the hands of the people, cash transactions will resume, especially since various places do not yet have the ability to accept electronic currency and cash is convenient. There will still be a shift, a percentage of people starting to use more plastic and bank transfers to manage in the interim will continue down this path, and the younger generation is more savvy and open to this as well. Gateway providers like PayTM and others will also look to cash in on the demonetization, so that will nudge the economy further.
There’s a lot of talk around ‘this is not enough’, ‘this does not really stop black money’ and ‘how will introducing a higher (2000) denomination solve the problem caused by a lower (1000) denomination’. I think it’s important to remember what this was set out to do: in my opinion, this was to kill black, unaccounted cash out in the economy (and therefore directly attacking existing corruption and terrorism that is elevated by this cash). More has to happen to control further generation, naturally. Remember that simultaneous raids were carried out at 100s of jewelers, various industries around Nov 10 to clarify transfer of cash into these industries in the hope of emptying thus far stashed currency. Other moves such as requiring PAN cards for jewelry transactions above certain amounts are further aimed at limiting new generation. I do believe the real estate sector will be hit next if not already. A crackdown has already been announced against those who have bank deposits not matching their tax returns. These actions will push more and more people to be careful about whether they wish to indulge this route further, and the small percentage that will continue — as they do in every economy — will be far, far smaller than what they were pre-8Nov. The advent of GST expected in FY 2017 will further add to their pain.
Regarding the currency, it was natural that 14 lac crore in currency would not be circulated entirely in 500s. Someone has highlighted how a different higher denomination also curbs a deposit switcharoo, which has some merit, but is not easy to do. That said, there are two places where the new 2000 denomination really helps:
Finally, I know and fully understand the micro-economic inconvenience being caused while banks come to terms with handling the onslaught of citizens wanted to exchange, switch and withdraw currency to manage their day-to-day. This post in no way minimizes that burden, and a shoutout must go to bank staff who are working double, triple shifts to help people. Various citizens are also visiting banks to distribute water, tea and even help people fill out forms as they stand in line, while switching to majority cashless transactions so they don’t add to lines. It is a testament to the resolve of the country that this is happening across the nation today.
Onward and upward.
News of an announcement flickered in around 7.50 p.m. IST, an address to the nation was on the cards. What followed is fairly accurately described as India’s biggest take on black (think money acquired through non-documented means) money. Some quick facts:
If we look at how this has come full circle since 2014, when the new Govt. took over, you can almost see the plan coming together:
Yes, there will be an inconvenience around getting all the existing notes into banks; and while businesses and shopkeepers refuse to accept the old notes. If people however give it a chance, and look beyond the next few weeks, a massive move towards accounted, and cashless economy is in the offing. But stories are already coming out of shopkeepers who are offering items on credit until the new notes trickle out.
Spare a thought for those who hoarded black money over years and years, stored in the highest denominations, in cash, that just became food wrappers. Being unable to deposit this money in banks today, unable to exchange it for gold or other goods stifles them in ways that are unexpected. Add to that the announcement being made post 8 p.m., barely 4 hours before closing and post close of markets. It is being said that it was a closely guarded announcement between the Prime Minister, Finance Minister and RBI Governor. I wouldn’t be surprised if most/all in the Cabinet were unaware until their meeting the hour before the announcement, as evidenced by the lack of understanding within the media what the announcement was for, until it was actually made.
This was indeed a colossal move. Watch it unfold.
Update, 10 Nov:
I discovered Warby Parker thanks to Gruber’s The Talk Show, where there were a sponsor. Their message was interesting: custom made frames, good quality glasses, reasonable pricing and for every pair you purchase, they donate one to someone in need.
WP is an entirely online service (although they do have stores in New York) so the trick would be determining whether the glasses actually work for you. Two items help here. First, WP offers a free home-try on — select 5 frames, and they ship it to you to try on. I was visiting the US earlier this year, so I was able to give this option a go.
Second, one rarely pays attention to the measurement indicators available on each pair of glasses when you visit an option (well, at least I’ve never looked). Based on my current pair, I was able to select frames that were close enough (slightly better, slightly smaller, and similarly sized) to help me decide.
WP is reasonable with their costs as well: $95 gets you the frames with polycarbonate anti-reflective & UV-protective single-vision glasses, and a one year guarantee for scratches. 1 Warby Parker will ship you just the frames too if you prefer to purchase them without prescription glasses.
The order process is straightforward. Pick your glasses (and color where applicable), upload a copy of your prescription, and you’re on your way. WP asks that you upload a prescription either with an expiration date, or with a test date taken within the last 2 years. They’re prompt with answers, confirmed they were happy with my prescription scan and the wait began.
My glasses were delivered within the expected 10 days, although it did take me another week to receive it in this part of the world. I want to add here that the packaging is great too.
Will have to wait and see how durable the frames are, but so far I’m extremely happy with the purchase. The net cost is reasonable for the quality of Glasses currently sitting on my nose though.
Ya know, I’d love to know more about their donations, while there is some text on their site about the subject, it would add to their feel-good appeal if they shared more pictures of this too.
For those living outside the US, this option can be a bit tricky, so I’d recommend figuring out a way to try them out first. I’m very likely to go back next time though since I’m confident about the frame sizes and expectations now.
*flicks hair back* See?
Wokyo Noodle Bar
Cuisine: Asian
Rating: 3.7/5
It would seem unfair to call Wokyo Noodle Bar the Subway of noodle houses but that’s the first parallel that comes to mind. Wokyo is a simple but effective noodle house, you pick out your ingredients and they ‘wok’ it up in front of you, fresh as ever.
Wokyo attempts to keep things fairly authentic on their menu — it’s not a complex menu at that, the main course being noodles or rice, cooked in the sauce you select and the protein of choice. They do carry other appetizers and a couple of salads as well so this is handy if you’re in a larger group. However, their noodle servings are quite satisfactory per person.
In total, Wokyo boasts 8 different sauces — from the Bangkok Coconut Curry to the Tokyo Miso & Sesame. Their ambience feels pretty fresh and mostly friendly. The only caveat in our experience was when I asked the server repeatedly to explain what the sauce ingredients were so I wouldn’t have to look them up off the menu (Seoul is Fiery Sriracha for example), he kept pointing out that the names were next to the sauces already, and I kept trying to explain that I wanted to know what Seoul contained. After a couple of tries, it was just easier to read them off the menu. Wokyo lets you try out the sauces upfront, which is neat.
In an attempt to cover as much of the menu possible, we chose different noodle types (and one steamed rice option) each with a different sauce. I do believe certain combinations would work better than others — the Buckwheat noodles for example may not work that well with something like the Peanut, but an exhaustive list of recommendations would take me too many tries to perfect. Sorry!
We sampled the Fiery Sriracha, the Bangkok Coconut Curry, the Thai Peanut, the Tokyo Miso & Sesame, the light soy. Of these, the one that didn’t work for me was the Thai Peanut — the end result was very dry and a bit tough to enjoy. My guests preferred the Tokyo Miso & Sesame which was delicious, while my personal choice of light soy with buckwheat noodles was also really good. The noodles were all well cooked so we had no complaints there. I personally love buckwheat noodles, but for the traditional noodle eaters, Egg noodles and Udon are both available. One point, if you order the rice option, you would receive the proteins or veggies cooked in sauce, with rice steamed on the side, unlike the noodles which are mixed in.
In addition to a Lavazza coffee bar, Wokyo also has your more traditional Thai Iced Tea and Matcha tea options, hot and cold. I stuck with my tested Matcha Iced Tea latte (soy milk) and that worked well.
Overall, it’s an enjoyable experience, the interiors are fun, just a little quirky and they’ve given the outside area good lighting, which was very appreciated (and resulted in better than average pictures).
Rating breakdown
Ambience: 4
Service: 3.5
Food: 4
Authenticity: 3.5
Value for money: 3.5
Final: 3.7/5
(Ratings are explained here.)
Wokyo Noodle Bar • Zomato
Below Bldg J2, Cluster J, JLT, Dubai
+9714 4551690
Farzi Café, Dubai: 3.4 / 5
It’s not often that a review makes you struggle with the outcome. Farzi Café made this review tough; primarily because it’s hard not to draw parallels to TresInd — one of my favorite restaurants but I haven’t reviewed it yet (whops). Second, it didn’t help that Farzi has a few things really going for it and others that hold it back.
Let me table the suspense first up: the two restaurants don’t really fall in the same class, and you’d be disappointed if you, like me, compared your experiences. It also wouldn’t really be fair to Farzi Café, so we’ll endeavor to let it stand on its own.
Farzi truly represents Dubai’s unending obsession with the new & different. ‘Reservations are completely full until Sunday,’ we were informed the first weekend. The earliest weekend booking I could make on a Tuesday was for Saturday, and they weren’t kidding. The scene was crowded when we arrived.
Right away, we were introduce to Problem One: while their interiors are done up well, the tables are incredibly cramped. I believe our table would have served maybe three people at best (we were 5) and was incredibly narrow, making the person sitting along the edge (yours truly) struggling for space. Behind us were a family of 9; their table while longer was not any wider. We barely got over the grumbling when Problem Two was dumped on us: a humungous (in context of the table) menu.
Restaurants should really think this stuff through, and this turned out to be the most irritating thing about Farzi. Two people sitting across from each other couldn’t place their menu face down on the table without colliding, only made worse when you have 3 people sitting at one end. (Spoiler: we just shared our menus). This was made worse by the design of the menu itself; I have no problem with funky (there were cute quotes in each section too) but reading up dish names with four different font styles starts to get irritating while you elbow your dinner companions. All the while, I couldn’t help thinking that a smaller font would have lead to a smaller menu (most pages only had 4 items listed) and a significantly more comfortable reading experience. You essentially sit there hoping the food has some redeeming qualities.
Thankfully, there is hope. Their drinks menu — a welcome surprise of sanity-prevailing smaller fonts bound in a rather compact looking menu — is extensive, and concoctions likekadak chai soda and curry leaf mocktail turned out to be delicious even if a little too sweet. The waiter informed us the drinks were pre-made and there was no option to have a non-/less- sugar version. Tough.
The problem persisted with the Raj Kachori. While a delectable presentation with use of a chutney foam, spicy pumpkin mash on the inside and fried okra, the yogurt was far (far) too sweet for my taste buds, taking it almost into the dessert category. A little adjustment here would do wonders to the dish.
Farzi tries to be inventive with their food, which works in some cases, and isn’t a home run, but still good. The curry leaf mocktail was actually delicious, the okra-pumpkin touches in the Raj Kachori inspired, and the truffle sliders were heartwarming for a truffle/mushroom lover (and arrived in a US army truck of all things). There was also the aubergine steak (yes, aubergine), topped with babaganoush and a side of salan sauce, which was absolutely the highlight of the menu. The paneer tikka wasn’t the most inventive of dishes, but still cooked well although the presentation was a little messy.
I did however feel Farzi’s menu was also a tad limited. Not that they didn’t have enough options, but a case in point: the appetizers section had tandoori chili cheese kulchas, and also a paratha enchiladas. While technically different, it was two versions of the same thing. I trust they’ll expand as time goes on, but it took a bit of effort to try and find enough different styles or dishes to sample for a larger group.
There was another dish that was served up in a red telephone booth, and the bill & comment card arrived on a typewriter. It’s a cute idea no doubt, but again, perhaps a smaller typewriter that didn’t eat up most of the table would have been a cleaner touch.
Farzi’s outside seating only caters dessert, and you have to be seated inside for their full menu. We didn’t land up trying dessert; I didn’t mind since I had been downing the two rather sweet drinks all through dinner. I almost sound like a broken record now, but each time a dish was served up, something had to be moved around or taken off the table. Rarely were two dishes served at once, so the eating experience is a bit disconnected.
Bottom line, I see why Farzi Café is the current hotspot in the city. Good flavors coupled with interesting presentation and the ‘ooh shiny’ new factor work in its favor. Is that enough to take away from the negatives? Somewhat. It will be interesting to see how Farzi continues to draw in the crowds, particularly with newer inventive dishes.
It’s good, but not great. I felt Farzi fell slightly short of the finish line; I wouldn’t necessarily recommend it for larger groups looking to sample everything, but it’s worth trying as a new experience.
But I genuinely hope their management reviews the seating arrangement; this is undoubtedly their weakest link.
Rating breakdown
Ambience: 2
Service: 4
Food: 3.5
Inventiveness: 4
Value for money: 3.5
Final: 3.4/5
(Ratings are explained here.)
Farzi Café • Zomato
City Walk Phase 2, Al Safa, Dubai
+9714 3942556