Since 2000, thanks to Y2K, Indian Banking system has undergone major change. Indian IT firms positioned themselves as the knowledge center of the world ( We are not….Apple exited long back…good thing). Anyway, the survey posted in one of the UIDAI website says, an account creation cost is Rs 40 at a minimum and maintainance is Rs 100 per year, if no transaction takes place??? Our fixed deposits and Interest rates have come down, which was never the scenario before ( banks say they cannot work it out…although regulated by RBI). What are these banks doing? Why has it all been this way, since Y2K? What does the future hold with UIDAI coming soon?
Bill Gates taught the world that the biggest money is in software. We just took the concept and went on giving multi crore softwares, to these banks. We had to train our computer illiterate clerks and managers. We invested a lot more on core-banking, e-banking etc etc. We gave enough number of ATM’s, running on AC’s for 24 hours in every corner of town. We had to get leased lines at a whopping cost from public sector but at 1/20th bandwidth rest of the world gives for the same amount and the gunmen for security services. I can list more but I will stop here.
India needs infrastructure mate…. Not the big buck software…. you need that first when you give a solution…..
Everytime I think about these software biggies, I cant stop wondering…. when will it all end…. They have made our lives so miserable….. Every year they hire 200000 fresh engineers!!! And for what? Mostly tech support(do not forget the banks and outsourcing) and voice processing? Banks are like cash cows… When Lehman sunk, somebody in India lost a 100 million dollar… (whoooph….thats a lot of money)…
Software IT guys and gals, with no heads, getting a bloated pay…. They have really spoiled it all for rest of us mortals…. I cannot have a decent lunch in Bangalore for less than Rs 100…. Students cannot stay in a good rented house for less than 5-6k per month…. People from all over Karnataka used to go to Bangalore for education, medicine etc… but now its something that my people here cannot afford…. Engineering degree has become a lucrative business….
Coming to UIDAI…. thats probably the worst to happen…. We are being blocked for Visa’s, financial meltdowns elsewhere in the world… what do our biggies do??
This project though spearheaded by a very respectable person…probably to me… is another opportunity for the biggies to mint money, in the name of UID compliancy…. People who won the deals, congratulations for taking us further down the hole… I only hope not… God save us all….God save the banks….. They will need a Nattha card…. people who are in the verge of the suicide…. But if all goes well, regulated, every taxpayer money counted and running cost thought about, this really will show the power of software….