So, here's the flip-flop. Uptil June '09, the HDFC bank charged its customers for using the National Electronic Funds Transfer (NEFT) facility. Of course, there was much ado and hue-and-cry around the issue. HDFC appeared to buckle under pressure and withdrew this charge around July '09. Guess what?! It's back! INR 5.00/- (plus applicable taxes) for transfers upto INR 1,00,000.00/-, and INR 25.00/- (plus applicable taxes) for transfers of INR 1,00,000.00/- and beyond (the maximum amount being INR 10,00,000.00/-).
After reading up the articles posted by customers on the net, there appears to be a very humble noise; but not too much. Most tech-savvy customers (like me, obviously) often like to work on such nitty-gritty nuances from their homely abodes. This only means that they'll have to chug out their dusty ol' cheque-books once again. Of course, don't miss that SBI and ICICI Bank, I'm told, have these charges too. But ICICI appears to have withdrawn (for how long, I wonder).
Anyway, I decided to put some numbers into the gig. So, let's get to it.
1. Assume that every branch of the bank (not an ATM-only branch, obviously) has an employee who spends some time in processing cheques. Let's also assume that this one person (point #1) works 10 hours a day for 280 days of the year. I'm guessing that this person would earn close to INR 2,80,000.00/- per annum (or simply INR 1,000.00/- per day).
2. Assume that every such branch processess at least 2,000/- cheques a day (I believe that this number would be optimistic, but w.t.h.). Given the number and sizes of various banks in the country, let's assume that the consumer is quite intelligent and only 5% of the cheques are intra-bank (or simply put, transfer cheques). All the rest have to go to the respective clearing banks. Therefore, there would be some cost associated to the couriering of these cheques to the central clearing houses etc. A rough estimate puts that number at approx. INR 450.00/- per day. About right?
3. That, to me, translates to approximately INR 0.50/- (fifty paise) per cheque. Ok. So far so good.
4. Let's now move to the cost of printing the cheque and the instruments used to print the cheque details, the ink cost, etc. Add to that the cost of the courier used to send the chequebook to the customer. All this would, all told, put an additional burden of around INR 2.00/- per cheque leaf. About right?
5. So, we're at about INR 2.50/- per cheque.
6. Let's see now, writing on the cheque - discounted, checking the financial systems for availability of funds - included in the processing cost, and I can't think of anything else, except one item. Cost of depositing the cheque to the drop-box :).
7. In my past experience, the amount spent to deposit cheques ranges from zero to about INR 50/- depending on where your branch is and how you commute. Given all the knowns, and the sheer skewed demographics, I'm willing to lay a bet that the cost of deposit of a single leaf of cheque is around INR 2.50/-.
Volla!!! That makes it 5 bucks! Doesn't it? I'm wagering that this amount is more than 5 bucks. However, a big part is absorbed by the bank.
Hence, I'll get back to the cheque-book. Let the bank pay for the facility; why should I suffer 5 bucks, unnecessarily :).
Saturday, January 30, 2010
Tuesday, January 19, 2010
Risky business!!!
Have I told you lately that I... (reminds you of the song, right?)... have recently moved to greener pastures. "Recent" is arbitrary because my last post enthused some years ago. In that respect, my movements are recent.
Anyway, I'm in the risky business these days! Did you know that recent studies show that Cyber Security in Computing Clouds could result in 50% loss of data. What!!!??? FIFTY freakin' PERCENT? Yeah, I'd had the same surprise. But, it's true. You should read some reports being carried out by the who's who of the Consulting world.
Imagine, you type your name, and half of it goes missing. "Jack" would become "Ja" and "John" would be "Jo". What would "Peter" be; "Pe", or "Pet"? Trusting computer algos, lord knows. Then there would be the Y2F (for you slow morbid creatures of the heaven, thats the "Year to Forget")
What would be fun is when half your password is accepted as the "true" one... that would be the day. My suggestion, ensure that you keep your passwords of even number of characters to avoid confusion.
Clouds are round the corner, for sure. Personally, I have nothing against them. But would I share my data with you? Naa, not really! Improve the methods, and I am game. Google, watch out. I'm on the pry.
Anyway, I'm in the risky business these days! Did you know that recent studies show that Cyber Security in Computing Clouds could result in 50% loss of data. What!!!??? FIFTY freakin' PERCENT? Yeah, I'd had the same surprise. But, it's true. You should read some reports being carried out by the who's who of the Consulting world.
Imagine, you type your name, and half of it goes missing. "Jack" would become "Ja" and "John" would be "Jo". What would "Peter" be; "Pe", or "Pet"? Trusting computer algos, lord knows. Then there would be the Y2F (for you slow morbid creatures of the heaven, thats the "Year to Forget")
What would be fun is when half your password is accepted as the "true" one... that would be the day. My suggestion, ensure that you keep your passwords of even number of characters to avoid confusion.
Clouds are round the corner, for sure. Personally, I have nothing against them. But would I share my data with you? Naa, not really! Improve the methods, and I am game. Google, watch out. I'm on the pry.
Confused society...
In a recent event that I was "supposed" a "part" of, the word "misfit" came to mind. Not only were the intrusions unworthy of my being the only-lonely; the fact that I had to sit and listen to the deliberations...
Anyway, I think I am a bit more composed now. With a beer down, I think I should stop writing and start concentrating. It's not as though I want to; I just have to.
Anyway, I think I am a bit more composed now. With a beer down, I think I should stop writing and start concentrating. It's not as though I want to; I just have to.
Monday, March 10, 2008
Indian IT scene
The journalists seem to keep people guessing. On the one hand we hear about job-loss; on the other, we hear about recruitment and growth. Seems to me that the journalists are at logger-heads with each other and want to debate the topic on an openly slow communication in a newspaper. Don't you have anything better to do? Oh, I get it. Do you think the stock market would live on your fear?
Guys! Just debate it "off-line" and give us the gist of what you want to get to. It is quite boring to read the same stuff upside-down next morning. Anyway, things look pretty good on this side of the turf, (as you've guessed, obviously, which side I am on).
Guys! Just debate it "off-line" and give us the gist of what you want to get to. It is quite boring to read the same stuff upside-down next morning. Anyway, things look pretty good on this side of the turf, (as you've guessed, obviously, which side I am on).
Sunday, March 9, 2008
Chitter-chatter
Lo! and behold!, there comes a taunt... "what are you doing there?"; or maybe a "No, that's not what I said" kinda thing. Well... there goes you're typical "woman". One truth for all the other "guys" around: "Woman is hypocracy personified!" Now, don't go fooling yourself in a feminish way. And don't give me the BS on chauvanism. It's there, in those words. Take it or leave it!
Agile... Do I need it?
I went to this convention yesterday on AGILE concepts, techniques and retrospectives. Being relatively new the idea, I was very "open-minded" about the discussion there. In hindsight, they just mentioned what my grand-pa once told me - "Find the simplest way to do this math sum, boy, and you'e good for life!" Sure, granps! That's what these idiots (psuedos) are teaching those idiots (more psuedos). Isn't that always it?
Over a period of time, I've come across more intelligent fools who - like our dear friend Murphy (of the "laws" fame) puts it - will find the most ingenious ways to mint money. And the beauty of it is that there are fools (with a lot of money, I may add) who're willing to pay the previous ones that money. Waste, I tell you... total waste.
Anyway, so at this convention, there was this guy who made us believe that he spent 2 years (two freakin' years) trying to figure out how best to align 450-odd people to work on an enterprise-wide solution. Essentially, a company who'd hired this guy, wanted to convert all applications they had to an enterprise-wide-consistent architecture. Mind you, this guy is not a programmer; just a consultant who thinks he understands AGILE. Unfortunately, he doesn't. I mean, he started off by saying that "writing software is not engineering". Is that why the company paid him to, somehow, get an enterprise-wide-consistent architecture? Com'on man, quit fooling me, at least! He's improved now; he's spending 1.5 years now doing that. Without using AGILE, I've done the same in 11 months, my friend. And my team has 24000 people. Beat that!
Believe me when I say this, I am not a qualified engineer. I know I act more like one, but I am not one. That's why I am more level-headed than many of the in-duh-viduals that I constantly see around me.
Anyway, I digress a lot. Coming a bit closer to the topic... AGILE, to me, is another way to say that things work better when there's more communication. If you can find to incorporate more communication in your current methodology, you're AGILE. By more communication, I mean constructive, professional communication. You're getting work done, right? If so, you need to ensure that the rest of the people on your team are aware of what needs to be done as well; just so that when you decide to leave or retire (if it gets to that), there's some other in-duh-vidual who can carry the torch.
Let me ask you this: Can you work alone for everything? Your answer might be "yes" just to be cynical/critical (whatever). But deep down inside, I can bet that you know that "no" is a better choice. Let me try... can you make your own "wheat-bread-sandwich"? Yes? Then, can you make your own "wheat-bread"? Yes? Then, can you make your own "wheat"? Yes? Then, you must be a farmer, so can you make your own "software-to-make-that-wheat-bread-sandwich"? I'm guessing that I'll be able to ask the right question to get you to answer a "no"! Let's say, can you make your own children? There! So, chill.
Therefore, an axiom: No one can work alone for everything! And since the other postulate states that Collaboration requires communication. Viola! Eureka! Oh! (choose any of those moments) Better communication gets you better results. Hence, the corollary; if you've got good communication, you'll do well in your team.
Finally, most competitive folks are always on the lookout for short-cuts. That's my mantra to success. Short-cuts, not to do the things and leave them mid-way, or incorrectly. Short-cuts to do the same things more intelligently, efficiently, esthetically, ethically (find other such words). Sometimes, doing something correctly using the long way the first time helps it in the future. Also, why re-invent the wheel when some else already has? Maybe you can make a better wheel by modifying the existing one? You may need to think outside the box, or inside it, as the case may be.
Communication is the key!
Over a period of time, I've come across more intelligent fools who - like our dear friend Murphy (of the "laws" fame) puts it - will find the most ingenious ways to mint money. And the beauty of it is that there are fools (with a lot of money, I may add) who're willing to pay the previous ones that money. Waste, I tell you... total waste.
Anyway, so at this convention, there was this guy who made us believe that he spent 2 years (two freakin' years) trying to figure out how best to align 450-odd people to work on an enterprise-wide solution. Essentially, a company who'd hired this guy, wanted to convert all applications they had to an enterprise-wide-consistent architecture. Mind you, this guy is not a programmer; just a consultant who thinks he understands AGILE. Unfortunately, he doesn't. I mean, he started off by saying that "writing software is not engineering". Is that why the company paid him to, somehow, get an enterprise-wide-consistent architecture? Com'on man, quit fooling me, at least! He's improved now; he's spending 1.5 years now doing that. Without using AGILE, I've done the same in 11 months, my friend. And my team has 24000 people. Beat that!
Believe me when I say this, I am not a qualified engineer. I know I act more like one, but I am not one. That's why I am more level-headed than many of the in-duh-viduals that I constantly see around me.
Anyway, I digress a lot. Coming a bit closer to the topic... AGILE, to me, is another way to say that things work better when there's more communication. If you can find to incorporate more communication in your current methodology, you're AGILE. By more communication, I mean constructive, professional communication. You're getting work done, right? If so, you need to ensure that the rest of the people on your team are aware of what needs to be done as well; just so that when you decide to leave or retire (if it gets to that), there's some other in-duh-vidual who can carry the torch.
Let me ask you this: Can you work alone for everything? Your answer might be "yes" just to be cynical/critical (whatever). But deep down inside, I can bet that you know that "no" is a better choice. Let me try... can you make your own "wheat-bread-sandwich"? Yes? Then, can you make your own "wheat-bread"? Yes? Then, can you make your own "wheat"? Yes? Then, you must be a farmer, so can you make your own "software-to-make-that-wheat-bread-sandwich"? I'm guessing that I'll be able to ask the right question to get you to answer a "no"! Let's say, can you make your own children? There! So, chill.
Therefore, an axiom: No one can work alone for everything! And since the other postulate states that Collaboration requires communication. Viola! Eureka! Oh! (choose any of those moments) Better communication gets you better results. Hence, the corollary; if you've got good communication, you'll do well in your team.
Finally, most competitive folks are always on the lookout for short-cuts. That's my mantra to success. Short-cuts, not to do the things and leave them mid-way, or incorrectly. Short-cuts to do the same things more intelligently, efficiently, esthetically, ethically (find other such words). Sometimes, doing something correctly using the long way the first time helps it in the future. Also, why re-invent the wheel when some else already has? Maybe you can make a better wheel by modifying the existing one? You may need to think outside the box, or inside it, as the case may be.
Communication is the key!
Sitting there... searching... finding... is what I do most of the time I spend doing it!
Ok... this works... so now what!... lets see... ya! Bokonon...! Just seeing what they are...You should go to this... BOKONONISM.
Pretty interesting, eh? I thought so too :)... Maybe if we humans could behave in a way we are supposed to... of course, I guess we probably already are... its only those hypocritical few who feel the need to criticise every instance of humanity... oooof I say !!!
Subscribe to:
Posts (Atom)