Yesterday marked my first visit to the gas station  after the recent fuel price hikes. It was traumatic. Gazing at the rapidly ticking indicator, I began to feel a little dizzy. And felt my heart beat rising. Petrol in Mumbai city now costs Rs 54 + per litre.

Once upon a time, the pumps only displayed the number of litres that were flowing through. Thanks to some elementary technology upgrades, they helpfully display the price as well. A street mugging must be a less stressful experience. Read the rest of this entry »

Last month, over the still waters of the South China Sea, on a Singapore Airlines morning service into Shanghai, a newspaper article caught my eye. It reported how China’s ATM system had collapsed the day before. For seven hours. Losses apparently touched upwards of a hundred million dollars.

I got a start. I was not carrying much currency, of any denomination. Thanks to the efficiency of the Indian banking system, over the last few years, I use ATMs across the world to access my bank account in Mumbai. Or use my credit card. Instead of the old routine of buying dollars at extortionate rates and then converting locally. Read the rest of this entry »