Indeterminable Reserve Bank of India (RBI) – Part 2 of 2


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In the continuation to the previous post portraying the ill effects of the Reserve Bank of India, here flows the second and final post. Already got many calls from top notch people for writing about RBI and will ensure that there are no bad remarks.

Over 5 ATM Transactions Chargeable

You would have heard this statements if you live in the metro cities. Yes, there has been an amendment with the Code of Banking Conducts to charge a customer who overuses ATM Facilities in-order to limit the crowd in ATMs. Again this is not a wise decision amended by RBI.

For example, if I need INR 5000 for 10 days, I may walk into the ATM for withdrawal as per my requirement. Now, since there is a restriction, I may withdraw INR 5000 all in one time. Working on the actual case, I may need INR 100, INR 100, INR 2000 and so on for 10 days. Here the bank fails to have the customer’s EoD Balance. The customer may withdraw even a huge amount.

Another trait is that as we may be aware that the thefts these days in residential zones have increases, if a person has a cash into his hands / @ apartment, there is a serious threat of losing the money and it will create an opportunity for the thieves to rob the house.

Now, its the time for RBI to think about its decision. I am sure that it will never change, but should be initiated atleast.

Indeterminable Reserve Bank of India (RBI) – Part 1 of 2


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The Reserve Bank of India (RBI) is India’s Central Banking Institution, which controls the Monetary Policy of the Indian Rupee and other banks operating within India. Sometimes, RBI is well known for its stupidest decisions.

Last December (2013), under the heading of the new Governor, there was a decision for increase in security by inputting the PIN at POS for transactions. Upto me this is one of the wrong decision take by RBI.

A latest statistics quotes that the Debit / Credit Card are owned by 67% of the Upper Middle Class and High Class people across India. Of this the most of them are of high class. Just imagine for each and every transaction would the CEO go down to the cash counter to input the PIN? Or will he get down from the car while fueling up? No for both the cases, he needs to share his/her PIN to sub-ordinates or to the person who serves him. This is a very serious threat.

Same way, I was in an average hotel a week ago. I happened to counter one of the balance 33% of the card users of India who are poor enough / villagers. Here after the dinner was over he had to give his SBI Debit Card to the waiter for settlement of the bill. He forgot to disclose the PIN to the waiter, so with almost 25 tables across he shouted like “Velu, the PIN number of card is 8866″. All the people who were in the hotel turned towards the card user, but he didn’t care about it. He started putting betel into his mouth. After few minutes the issue passified and the waiter came with the charge-slip and got the initials.

Now just imagine, if the card is lost at the next moment or while he is leaving the hotel, wouldn’t it be a serious threat?

Solution : The Banks should be instructed for the customer to be given with 2 PINs. One for Cash Transactions and another for POS transaction with a special condition that both of them shouldn’t be equal to each other. Only this method could save people’s money.

What Indian Colleges failed to teach Students? P3


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In the continuation to my older posts : P1, P2

The mentality of each and every parent is that their ward needs to earn a minimum of 500 USD every month post their education. But there are many factors which the parents fail to understand. All the education will not give such salary in India.

Before that its the student’s and college responsibility to explain their parents and their investors respectively about the process of getting a job. Here both the parties fail in the expectation.

The horrible stuff is that the student is not even eligible for getting a basic job in the company and he / she demands for it. And there are some more critical positions which is being admitted by the candidate with false affirmation. “A candidate of Chemical Engineering is posted into the Software Testing zone”. What do you feel about this idiotic statement and how far will he be able to get the output? Even if he delivers the output what will be the ratio which he renders? Doesn’t this feels very bad? He spoils the opportunity what a Computer Science graduate needs to get.

Just do a simple evaluation on how many students are still having their resume with Skills as “HTML, Microsoft Word, C, MS Paint” and so on? If you have such into your resume, please be sure that you are not fit for getting a job nor a career into the research. These stuffs are now being performed even by a 3rd Grade Student and for this it doesn’t requires a 3 or 4 years study.

Student and Institute should never stick for the job and placements instead they should move for Research and Entrepreneurship.


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