In today's world, next to oxygen lies the most important need of human and that is the electricity. Over the developing years, many changes have taken place. All the gadgets need electricity to run. Here electricity flows in two forms - AC i.e. Alternating Current and DC i.e. Direct Current.

The main difference between an AC and DC is the electron flow direction During the flow of electricity, in AC, the electrons keep on changing their direction, i.e. moving forward and backward whereas, in DC, electrons move in a single direction, steadily.

During the flow of electricity, both the currents carry a different amount of energy. As the DC cannot travel larger distances, it begins to lose the energy gradually. Whereas, the AC can be transferred safely over long distances and thus can provide more amount of energy.

As we know that AC and DC travel in different directions so this direction of flow of electrons is caused due to a reason. AC continuously changes its direction due to the presence of the rotating magnet along the wire whereas, in DC flow, the wire consists of steady magnetism.

In AC, the frequency changes from country to country. It is basically taken as 50 Hz to 60 Hz depending upon the country whereas there is zero frequency in DC.

AC carries a current which varies with the time whereas, in case of DC, the magnitude of the current is constant.

A passive parameter does not require any energy to operate and also, it is not a source of energy. AC and DC have varying passive parameters. In AC, impedance has a significant role whereas, in DC, only resistance is the passive parameter.

Export figures for the month of December, 2017 came as a pleasant surprise again. It is the second consecutive month of growth. In November, the sector, after a fall in the previous month, had registered a whopping 30.55 percent y-o-y growth to $26.19 billion, and again in December it achieved 12.36 percent growth to $27.03 billion. Cumulative value of exports for the period April- December stood at $223.5 billion. With the latest figures, the $300 billion target for 2017-18 fiscal year seems quite achievable.

t is good to see that 21 out of 30 major export product groups were in positive territory in December. Engineering, which registered 25.3 percent growth, and petroleum products, with their 25.15 percent contribution to overall exports, played the key role in propelling the figures in the month. Additionally, sectors like organic and inorganic chemicals and drugs and pharmaceuticals showed healthy growth. However, it is disappointing to see a declining trend in apparel exports

Concerns have also been raised for some time now that India is not performing as good as its Asian peers. Countries like Malaysia, Indonesia, Vietnam and South Korea have outperformed India in exports in the April-October 2017 period, and this raises question about India's export competitiveness. Additionally, our SME-populated and labour-intensive sectors like gems and jewellery, apparel and leather – despite showing growth on a low base – still seem to be struggling under the new tax regime.

It is difficult to deny that the growth momentum in global trade is likely to continue this year. Additionally, the effects of the last year's disruptions are also gradually disappearing. Steps like simplification of the process for exporters to claim refunds under the new tax regime have also brought some relief to the sector. So, the scenario should further improve in the coming months. But the question still remains – are we performing to the best of our potential?

Space agency ISRO this morning successfully sent up a rocket carrying India's 100th satellite along with 30 others, four months after failed launch. The Polar Satellite Launch Vehicle or PSLV lifted off at 9.29 am from Sriharikota an island a few hundred kilometer from Chennai.

A key component that had failed in August worked this time, causing scientists to gasp in relief at having crossed a major hurdle.

The lift-off was postponed by a minute because of fear of collision with space debris.

31 Satellites were launched in two orbits. Thirty of the satellites were launched in an orbit 550 km about, and one 359-km above the Earth. This was done through what scientists call the "multiple burn technology" under which the rocket's engine is switched off and then switched on to control its height. The whole process of placing the satellites in two orbits will take 2 hours 21 minutes -- the longest so far.

In the first state Assembly elections since India's slow economic growth has been apparent, the Bharatiya Janata Party (BJP) recently came out victorious. In Himachal Pradesh, the party won by a large margin, securing 44 out of 68 seats, but its chief ministerial candidate lost. In Gujarat, the PM’s home turf, it won 99 out of 182 seats, but again, on a negative note, it was the party's lowest tally in the last six elections in the state. Experts have termed this performance as 'win without the shine' and economy watchers are now busy analyzing the results.

No doubt, overall the result may turn good for political stability and reforms. With BJP now ruling in 19 states, the results may also have some impact on its seat tally in the Rajya Sabha in the coming months, making it easier for the government to pass legislative reforms in the House. But the negative aspects of the result, particularly in Gujarat, have also promoted concerns that the Centre might now be tempted to go populist. With eight state elections ahead in 2018, it may now find it difficult to resist the temptation.

Additionally, the Budget is likely to be presented on February 1 and it will be interesting to see whether it will reflect a non-populist stand as well as the Centre's commitment to improve quality of expenditure. Recently, the Finance Minister indicated that his ministry would meet the fiscal deficit target. Well, it is welcome, if it happens, but at the same time it is equally important not to cut spending on investment only to prevent fiscal slippage, which, if any, is likely to be mainly due to the disruption caused by GST implementation and not reckless spending.

Most agree on the fact that the forthcoming Budget should focus on the infrastructure and rural sectors. Job creation has remained one of the toughest challenge facing the government and to address it, efforts must also be directed to manufacturing and exports. Also, farmers in the country are reeling under pressure for some time now, and the Budget must not turn a blind eye to these concerns. So the government, besides resisting any kind of temptation to populism, must also find the right balance between fiscal prudence and spendin

It's the equivalent of Insolvency Act for Banks. The ‘Insolvency & Bankruptcy Act’ deals with insolvency for corporates (all the current bad loan recoveries are being pursued under this act – one of the reasons India moved up on ease of doing business). This is the equivalent for banks, NBFCs, microfinance institutions and insurance companies.

Previously these were dealt with under difference acts which in most instances were lagging. The government is now putting it in one single law to deal with insolvencies. Everyone remembers the years it took to get back money from failed NBFCs. This law should make insolvency & recovery time bound (Its2 years).

As a part of consolidating all existing law it will close down the DICGC deposit guarantee scheme & merging it with the new act - one of the reasons for the fear. This scheme guarantees up to Rs.1 lakh of the bank deposits currently. The Rs.1 lakh guarantee will continue under the FRDI bill.

Read the fine prints of your pass books/ FD certificates and you will understand the deposit guarantee (cumulative of SB/ CA/ FD) is capped Rs.1 lakh. However, even when banks failed in the past (Global Trust Bank/ Nedungadi Bank/ Benares State Bank & many more), the government/ RBI ensured depositors did not loose by merging these banks with good banks. But strictly if they were to be closed depositors would have lost money in all the above instances.

Even now deposits (SB/ FD) are unsecured. As with any recovery process the order of recovery even now is

• resolution costs (liquidator fees)

• taxes and regulatory dues (can change between employees

• employees’ salaries (various categories)

• secured creditors

• unsecured creditors

• subordinated creditors

• preference share-holders and lastly the equity share holders

This position of unsecured creditors (which is how depositors are classified) remains same in the existing and the proposed rules.

(some mistakes in this article on categorization but the point is if you look at the above article the position of depositors does not change. So not sure why the hue & cry)

The bail in & insolvency process becomes more efficient and time-bound which is the difference. The FRDI bill will allow faster recovery in case of failure of NBFCs and benefits customers.

The only difference the FRDI bill makes is the time-bound nature of resolution; technically making its technically easier (in terms of process) to write-off liabilities (creditors/ depositors) in case of re-structuring. If you look at it from time value of money perspective, this will be better.

What to watch for:

• Any changes to deposit insurance amount.

We should be careful not to assume that deposits with any government (PSU) bank are same. The very fact that despite all of them being PSU banks they pay different interest rates indicate the risks are different.

That’s the reason SBI’s/ HDFC’s/ Axis/ BoB of the world pay much lower interest rate compared to the likes of Vijaya/ United/ IOB/ Indian/ OBC/ IDBI. The last few are weak and in trouble (deep shit if I have to be blunt). While it is safe to assume that the government/ RBI will not let them fail, the way you will not invest all your money in Sahara but prefer Sundaram Finance, we should not keep all our money in the weak banks but keep part of it in the stronger banks.

So to me nothing has changed and nothing will change in the next 3 years, not with elections in 2019. Also let’s not forget the government has allowed a bail-out already for the banks. That will be sufficient and no bail-in’s will be required.