I am a taxpayer for this country. My money will be a part of the billion dollar profits every major software company declares at the end of the financial year. It will never end up in the roads that will be built, or communications, education, military and electricity infrastructure. But I cannot stop it:(
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.
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.
Whats the running cost for all this?? Can the banks really work out at this rate? Nope… first of all software+support is huge. Plus you need to e-enable rest of the (most fortunate) branches. That is a huge infrastructure headache with again computers, licenses and installation, leased lines and blah blah…. No wonder why our whole banking system is sunk in this software funda…. No wonder why I am getting lesser satisfaction at computerized branches than non-computerized ( The reasons are many… ‘internet down sir’, ‘UPS back up illa sir’, ‘Power down sir’, ‘Cannot connect to server sir’….)…
What about online banking? ’503 Service Unavailable’, ‘Virtual directory access denied’, ’404 Not Found??’, ‘Questions to which I have no answer’… ‘Rule Id’s that I haven’t heard of nor made aware of’….
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….
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….
Dowry goes up to 50 lakhs to a crore, if he wears a software MNC tag…. There is no parent giving his daughter to a farmer… only MBBS or BE…. Colleges charge upto 50k per year for a mediocre B.E (which was before, the 4 years approximate total for the degree)…. I want Obama to visit our colleges and compare us with ones in US… We can only war with you on small stones….nothing more….
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??
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??
Suddenly Govt said, we want a “non-compulsory” Unique number scheme for everyone…. Several more billions were pledged… Call center deals for another billion…. Software companies charging Rs 2.75 per registration ( this is one number which I cannot figure out yet….is the XML Webservices too heavy for you to handle??)
won the deal……. more than a billion transaction per day will happen in future (at what cost…?? another rupee??), given that our Reserve bank and all banks have an MoU for micro-ATM’s and micro-payments… read the docs on the UIDAI website….its true….And on top of it, some company (which I do not want to name here) has already published full compliancy with UID system on their website…when not even 100 villages have been enrolled… nor the security aspects of the whole UID system finalized(forget finalized, not even discussed in the draft)….. nor are the regulations approved….
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….
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….