Din July 14th, 2008
ATM and Online Banking makes the life easy for customers. At the same time it saves a lot of time and resources of bank. It is like mutually benefited. Federal Bank was one of the few private sector banks which made the move long back itself – with a large number of ATMs and also by bringing up online banking. Things were all nice till last month when they decided to charge for the convenience ! Now when a user make an online payment (just money transfer, both the receiver and the sender need to pay INR 28.00 to the bank as transaction fee). That is a total of INR 56.00 (USD 1.3). Yes, it is not a big deal, but think about the other side. When a bank introduce more ATMs or online banking, it help them keep a lot of customers away from the bank. I mean customers need not come to the bank to withdraw money and they need not come to the bank for fund transfer. Bank saves a lot in resources. I do not know what made Federal Bank to take this wrong decision of charging customers for online transactions.
Not all customers will be happy with this change. Result ? More and more people will re-think on online banking, and people may go back to bank for transactions. Who will lose ? Federal Bank – no doubt in that.Forcing people to pay extra for online transactions is like taking them back to the pen and paper era. (This is not same as charging for services like online train ticket booking, which is a totally different matter). I use online banking service of HDFC Bank, SBI and Corporation Bank. And I have friends who use online banking of Axis (UTI) Bank, ICICI Bank and many other banks. None of these charge extra for fund transfer, then why my dear Federal Bank ?
Din July 11th, 2008
Bought any electronic items recently ? Any computer parts ? Car accessories ? Toys ? Mobile phone accessories ? And found that is NOT manufactured in China ? Consider yourself as lucky. These days it is quite difficult to find a product that is NOT from China.
I think it started from just 1-2 years back. Its not like I am against China or people out there. But almost everything we buy form the market is from China does not sound as a good thing. I was just making a list of things with the Made in China or Made in PRC. Starting with computer peripherals. About 30 items has been bought in the last 12 months. Only one item says Made in India (very happy to see that these days) and that is blank CD / DVD. The guy who is selling it told me it is not an easy process to make blank media and to maintain the quality and that is the reason Chinese are not into that. Well, do not know whether it is true. Just checked with my brother in law who bought lot of electrical and electronics products recently for his new house. Again, majority has the Made in China tag on them. Even USHA fan !! Next thing was toys that we buy for my niece. China again.
I am pretty sure manufacturing cost is the main thing. And all claim that they maintain quality irrespective of the country where it is manufactured. I am not fully convinced on that. Just as an example, I can see the difference in two computer monitors I bought. Both are of the brand – Viewsonic. First one was bought three years back, not having the tag and last one 11 months back or so with that tag. We can see the difference just by touching the panels, buttons and the body. And I already having some small problem with the display with the second (newer) monitor. The last computer related product I bought was a cartridge. Just by the weight itself I knew it is Chinese (now do not attack me telling weight is not a factor for the quality of printer cartridge, I agree on that). I see the quality of plastic and overall I am not very happy about it.
Two things make me worried. One – Quality is deteriorating – no doubt in that. Second thing is, as everything is from China, if something goes wrong in the relation between the countries (China is always having an unpredictable nature) and if they stop exporting items(yes I know I am paranoid and this is like worrying too much on something), what will happen ? Sure we may not be in trouble as many things can be manufactured here or can be imported form other countries. But that will not be very easy and sure it will take some time.
Why just me ? Or all are worried but do not have more time to think on it ?
Footnote : Wanted to clarify it again. The Author is no way against the country China or its citizens. He is just worried as a nation depend on another one too much, like for every item.
Din July 6th, 2008
And you thought the only leaning building is the Leaning Tower of Pisa ? No, you are wrong. Here is another !
Most of those who have passed through the National Highway 47 towards Cochin might have noticed the multi storeyed building which is very near to Hotel Le Meridien. The main structure of the building and most of its work were completed in the 90s itself. But even after 18 years, it hasn’t got any occupants. Reason ? Its a leaning building !!! Yes, Cochin where the land price is too high these days, people are ready to spend more than one Crore ( about 232,000 USD) for a house / flat, this building is all vacant.
Rest of the story. This was built even before they started work of the Le Meridien Hotel. The location is really good, very near to the National Highway. The work was finished and the owner approached the Government for final approval. They had a detailed analysis and found that the building is leaning and not suitable for living. I have heard that the Owner committed suicide, not sure whether it is true though.
The question is – The Civil Engineers, Overseers, who are all worked in this project, never knew the building is not vertical ? Everything was perfect in all phases ? All started going wrong only after finishing it ? No testes or analysis were conducted ? Unbelievable. I think the problem started from the foundation itself. Either it was not designed properly or work was not supervised properly. Only thing which can be done is demolishing the building. But even after that, it is not sure whether they can make new as the building laws became more strict now.
Keep it simple, but make things perfect too. People of Cochin do not need lot of world wonders !
Photo of Hotel Le Meridien – Which is very near to this building
Photo Courtesy – Din the amature photographer.