Sunday, April 23, 2017
Friday, April 21, 2017
From: Vaidyanathan R
Mobiles May Make Banks Extinct
April 17, 2017
The mobile phone is now being used for small-time financial activities, such as information on prices, billing settlements, etc. We have service providers like Air Tel/Jio providing internet based TV channels which will provide competition to Dish TV /Tata sky etc. Over period of time satellite based TV channels might be extinct if the number of TV towers serves well to offer hundreds of channels.
This is one major disruption .But more important is the service provider replacing banks.
Service provider as banker
Already Jio is tied up with, SBI and Air Tel with Kotak bank etc. This is to act as payment banks.
One step more is required to make mobile revolution complete in the Banking services. The important development that service providers and bankers should work towards is to make it drive a retail credit revolution. One observes that in the boat markets of Bangkok, one can either pay by baht, the local currency or get charge cards from the service providers and pay through them.
The service providers initially provide an overdraft or revolving credit facility to the retail trader, which is adjusted on a daily basis by crediting the retailer for every debit incurred by the buyer. The payments made by customers are used to bring down credit given in the morning. This is one of the interesting possibilities, wherein the retail trade network is provided a credit facility and which reduces their cost of borrowing. It requires one mobile instrument with them and periodic crediting of their account based on received calls, which are mostly available free.
The share of trade, [around 10 per cent of the national income] is at Rs 17 L crore. The trade sector would have needed Rs. 14 lakh crore as credit requirements (since, in trade, the major portion of capital is working capital). The combined financing to trade by all banking sources was around Rs 5 lakh crore. This implies that around 30 per cent of credit requirement is met by banking channels and the remaining by non-banking ones including money lenders. So, the potential available for mobile phone service providers is a market of the order of Rs9 lakh crore for digital-based lending.
Even assuming only Rs 1 lakh crore of this is tapped in the next, say, five years, at an interest cost of 20 percent (retail credit today in the `open' market is around 48 to 60 per cent) the sum to be earned is Rs 20,000 crore. We can call this digi-financing.
Instead of permanently singing the WalMart kirtan, we should think of innovative ways in which technology can facilitate the vast base of self-employed groups. The millions of entrepreneurs involved in the retail trade, instead of being dismissed as "unorganized," can be made more effective by the credit enhancement and price discovery process simply by using mobile telephony.
It is not required for WalMart to come here and squeeze our farmers and small manufacturers and sell their produce/products to consumers at "lower prices". We can think of leveraging on telecommunications to make all factor markets more efficient and lower consumer prices.
The most important thing about the mobile phones is that — unlike computers — even people who are not literate can use them. The only requirement is ability to speak and/or hear. We need not worry about language or massive software development. This small communication device provides phenomenal power unthinkable by economists or financial experts some ten years ago.
Hence the interesting question is if the service provider will swallow the banks or other way. Here the technology savvy service provider can give banking services easily compared to banks becoming tech savvy. So banks may become endangered species to be shown on animal planet or National Geography channelsJ
The appropriate thing to consider is to make the mobile sets—more so the "smart" ones- free goods for the poorer, self-employed groups. This can be done even through SHGs, wherever they are active, as they may be better able to identify the right beneficiaries. The Central and State governments, as well as various aid organizations, can give the handset free to many in these segments.
It must be seen as a process of asset creation and making markets work and should not be condemned, by the metropolitan experts, as a populist scheme. Most of the time, these beneficiaries need to receive calls rather than make them. If we have a market of 800-1000 million smart sets, the unit cost can be brought down to even less than 000rs. But the Government seems to think that the service sector is the economy's milch-cow, rather than the engine of India's growth. It may now be taxed at 18 per cent, and the argument is that their share is more than 50 per cent in our GDP and, hence, they should contribute more.
The impact of telecommunications on the self-employed and more particularly among the poorer groups has not been fully understood or appreciated. Mobile phones have created a sort of tsunami among lower level entrepreneurial groups like plumbers, carpenters, masons, small time construction contractors, painters, cooks, repair mechanics, winders, welders, water suppliers, tea suppliers, vegetable vendors, retail traders, flower vendors, auto drivers, priests, astrologers, etc. Actually, more than three hundred categories of self-employed entrepreneurs.
Since the growth in the economy is not due to the Government but in spite of it, the least it can do is to allow million of these entrepreneurs to flourish for a vibrant and sustained growth process.
Prof R. Vaidyanathan; Cho. S Ramaswamy Visiting Chair Professor of Public Policy SASTRA University; Professor IIMB[Rtd]
Thursday, April 20, 2017
China knows its game with the US involving North Korea is now reaching its limits, so China is trying to create other similar games involving Iran, etc:
Tuesday, April 18, 2017
“We are limited by capacity though this (PSLV) is a very good launch vehicle. We want them (industries) to form a consortium to build PSLV and launch satellites. Our target is to have 12 PSLV flights in a year first, then scale it up 18 and even 24 in a year,” A.S. Kiran Kumar, Chairman, ISRO, told Deccan Chronicle.
It's good that ISRO isn't wasting time on this. Now that the new era of the GSLV-Mk3 rocket is being ushered in, the veteran PSLV rocket will be spun off to the private sector for manufacturing and launch operations. This will allow ISRO to focus on GSLV-Mk3, as well as development of newer vehicles. Now India can get a head start on building a private sector ecosystem in space launch technology. Let's also see if the private sector pups can show older dog ISRO some new tricks.
Monday, April 17, 2017
- Will algorithms replace your physician? AI can predict heart attacks more accurately than doctors
- Celebrity endorsements of fairness products: A pale skin is associated with the exercise of power. The Bollywood-crazed nation has more idols perpetuating the notion than those who do not.
- Khan Academy-Tata Trusts program: Khan academy adds entire CBSE math curriculum to its video tutorials
- Muslim personal law: According to Nehruvian secularism, the “majority” can do no right and the “minority” no wrong. Hence, when laws designed to bring some of the traditional practices of those professing Hinduism into the 20th century, any effort at ensuring a similar modernising exercise on the Muslim community was discarded. Since that time, much of the policies of the Indian state have had the unintended effect of distancing Hindus and Muslims from each other.
- Dieselgate: EU passes rules that could spell 'much faster' end of diesels
- Bound tariff rates: NAFTA helps US exports more than Mexico's
- Barbarians cannot be treated like civilized people
- Clear message to communal forces!!
I support army action to parade stone pelter on top of jeep. Barbarians should not expect to be treated like civilized people pic.twitter.com/Go91w1LBE9— Rajiv Malhotra (@RajivMessage) April 15, 2017
Indian Union Muslim League (IUML), ally of Congress wins a constituency with 75% Muslims, but hey it is a clear message to communal forces 😂 pic.twitter.com/W2xSPDcHDk— The Masakadzas (@Nesenag) April 17, 2017
Friday, April 14, 2017
Thursday, April 13, 2017
Just as cellphones have done great things for personal communication in India, likewise devices like this could have a major impact on health and disease.
He's the other guy besides General Michael Flynn who could have tilted the playing field against jihadism. The ouster of both from the Whitehouse could mean a return to the same old establishment geopolitical alignments in Washington.
Wednesday, April 12, 2017
From: Madhu Kishwar <firstname.lastname@example.org>
Date: Sun, Apr 9, 2017 at 9:32 PM
Subject: [Manushi] Non Bailable Arrest Warrants by Kashmir Court against Madhu Kishwar
To: Manushi-india <email@example.com>
Patently Illegal Non Bailable Arrest Warrants Issued by Chief Judicial Magistrate against Madhu Kishwar in response to criminal defamation suit filed by Shujaat Bukhari, Editor Rising Kashmir
Facts of Defamation Case:
I am ready for the prolonged legal and political battle this involves, no matter what it takes.
It is noteworthy that Shujaat Bukhari does not deny my charge that his paper is pro-separatist and follows the Pak agenda. The only charge he has denied is that he takes money from Indian agencies. Is he willing to reveal where he got the funds to set up his paper? Who pays for his many trips to Pakistan, Dubai and other countries? Knowledgeable people close to him allege that Shujaat cultivates and curries favour with Indian intelligence agencies and Military Intelligence as a cover for his ISI links!
Shujaat should be willing to reveal where the money came from for his setting up three papers--two in Urdu apart from Rising Kashmir in English as well as a printing press. Is he willing to reveal how he bought several prime properties in Srinagar? All this when the print edition of Rising Kashmir and the two Urdu papers he set up subsequently all have a minuscule circulation in the Valley! They are meant only to make money through government ads and other forms of patronage. He inflates the circulation figures to corner more ads and subsidised news print. Its only on the Net that Rising Kashmir gets some traction.
I have a right to ask him to reveal information about his financial affairs because in the interest of transparency, MANUSHI posts on its website accurate information regarding every rupee that it gets by way of donations or sale of its publications as well as audited accounts of how the money is spent. Is Shujaat Bukhari ready to be as transparent about the finances of his newspapers?
The big question I want answered: Why is the J&K government and central government patronising separatist newspapers?
The deafening silence of the champions of "freedom of expression": Please note the deafening silence regarding this case in the "liberal" mainstream media. Compare it to the national and international media fury unleashed when a defamation case was filed against Ashis Nandy by an Ahmedabad based NGO for Nandy's baseless and outrageous defamatory statements published in The Times of India against Modi and Gujarati Hindus. He was projected by the entire media as a victim of "fascist" wrath. Top Congress party lawyers rose to his defence and argued his case up to the Supreme Court--all free of charge. But it didn't make big news when Nandy ended up offering an unconditional apology for his defamatory article when the Supreme Court was on the verge of indicting him!
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Tuesday, April 11, 2017
I take it nobody in India has ever heard of a 'doggie bag'? I've eaten at buffet restaurants where they'll charge you extra if you don't clean off your plate. But why should the govt poke its nose into how much a person wants to eat?
The solution to food wastage should perhaps be disposal fees, along with options to take home unused portions of food orders. Developed countries simply allow the market to naturally mediate supply & demand, having long left shortages behind - but for some reason BJP's backward leaders don't seem to know any better.
Likewise, I notice Yogi Adityanath's govt focusing more on Romeos and cow-squads again, when they could be finding more ways to keep development and clean governance in the headlines. Perhaps it's jarring to talk of Hindutva as a "brand", but when voters desperate for development are flocking to BJP for that purpose, then it's best to keep focus in that direction, or face the peril of being thrown out in the next election. Just as it's not good to see food being wasted, likewise the opportunity given by the people from their political mandate should also not be squandered.
Sunday, April 09, 2017
The blue-shaded section at the rocket's base is the recoverable portion of the vehicle that is supposed to return back for landing and re-use, since it contains the engines which are the most expensive component that needs to be saved. With ISRO also trying to begin development on reusable launch vehicles, they also need to look seriously at the vertical landing concepts like the Rossiyanka concept design above, instead of just winged landing designs. Wings add a lot of weight and drag on the way up, relative to the aerodynamic benefit they provide on the way down.
When considering a vertical-landing reusable rocket, ISRO should give serious thought to designs like this Russian one, with an eye to landing them in the Andaman Islands after launching from Sriharikota. Note the wider cross-section and squatter aspect-ratio of the reusable bottom section, which might afford a better cross-range glide capability to make it to the Andamans for landing. Space launches are always in an easterly direction, and hardly any countries have the convenience of a less-populated easterly island wing at a distance from their mainland like India does, to serve as a landing point for a recoverable vehicle. Advantages like this can help rockets save fuel mass, which could give India an unbeatable advantage.
Saturday, April 08, 2017
Rather than Tata discontinuing their Nano vehicle line, they should try to create a lower-cost Electric Nano to bring electric cars within the reach of more Indians. Lithium-ion batteries could then be mass-produced for such vehicles at a lower price point, leveraging economies of scale.
Thursday, April 06, 2017
Tuesday, April 04, 2017
This move also shows ISRO's interest in supporting private companies in its mission of creating a robust space industry. In other news, the body has lined up a space park where every small component will be manufactured under one roof, making it one of the first in the entire world.
Monday, April 03, 2017
- Project 'Everest' to crush small retailers: Amazon has already been flexing its muscles in India’s $600 billion retail market.
- Demographic invasion: Jammu activists find 5,155 Rohingya families comprising five to eight members presently in Jammu
- Why private vehicles are restricted in many urban centers: The longest commute times were in Bengaluru, India, and Hong Kong
- Green authority: California's new car emission standards defy Trump
- Pedestrian deaths spike: Distracted driving - and walking - blamed
- Solar energy: India’s Auctions Have Pushed Solar Prices Down 73% Since 2010
- Man and his planet: The Sahara Desert used to be green and lush — then humans showed up
- Experts agree: You can stop wasting your money on multivitamins
Not 5000, over 30000 Rohingya Muslims have been brought to Jammu to change its Hindu-majority character/undermine national security. https://t.co/brfx7KFZl8
— Hari Om (@Prof_HariOm) March 25, 2017
Sunday, April 02, 2017
Saturday, April 01, 2017
Friday, March 24, 2017
- Israeli Air Force to host 7 nations in its largest-ever air drill: United States, India, France, Germany, Italy, Greece, and Poland
- Accept my religion and the bloodshed it brings: London mayor Sadiq Khan says terror attacks 'part and parcel' of living in a major city
- India's Solar boom: Tesla is also eyeing India and could enter the market as early as this summer.
- Mexico followed Kerala model: Mexico had long been a hearty producer of corn, but its output has steadily declined over the last two decades. As heavily subsidized US corn and other staples poured into Mexico, producer prices dropped and small farmers found themselves unable to make a living. Some two million have been forced to leave their farms since Nafta. "It was after trade deals such as NAFTA and others that Mexico became more dependent on American exports".
- Countries that are most and least prepared for a cyberattack:
- Presstitute watch:
The lowdown: HCL Tech to hire high-school students to train them as software engineers. “It is kind of a cosy internship model and catches talent young. The reality is the more time they spend on the job more value they get.”
Presstitute spin: Indian engineers are so unemployable that a tech giant will train high-school graduates itself
- The subconscious mind:
China is also quadrupling the size of its amphibious assault troops - India's Andaman Islands would be an obvious target, since they're at the mouth of the strategic Straits of Malacca:
Thursday, March 23, 2017
|Attacker being treated before he died|
Tuesday, March 21, 2017
The ban will apply to nonstop inbound flights from 10 airports in the Middle East and Africa. “It appears to be a Muslim ban by a thousand cuts,” a former US official said.So some are implying that the Trump admin is achieving their Muslim ban by other means - ie. by throwing up other obstacles/impediments that will reduce the number of Muslim travelers anyway.
The testing at this facility will be used to develop future hypersonic aerospace vehicles.
Sunday, March 19, 2017
After the famously tough US General MacArthur was fired by President Truman, he said that "old soldiers never die, they just fade away" - perhaps Bharara will simply have to fade away. Like many sepoys, he'll likely just end up as a fat pensioner.
Saturday, March 18, 2017
Making him CM is a high-risk strategy. Scrupulous attention must be paid toward avoiding any riots in the state, which the opposition/media will seize upon to revive their "Bharat Jalao Party" rhetoric to create electoral backlash. If riots and other trigger events can be avoided, then he has a chance to both rehabilitate the state by rooting out corruption and radically reforming its bloated bureaucracy while improving services, as well as intimately tying such improvements to the Hindutva brand in the public perception. Just like the famous Protestant Work Ethic or Confucian Work Ethic, there may be an opportunity to demonstrate a Hindu Work Ethic to the investment markets. Risks are of course things like riots - we now have not only ISI but also ISIS who would be fishing for trouble in the state to boost their own agenda.
The strategy may pay off - but only if trigger-events for conflagrations can be avoided. As General Zia-ul-Haq used to say, "the water must boil, but not too hot." If Adityanath moves too crudely or in a headstrong way on the Ram Temple issue, then it could create a serious trigger-event that would reward the opposition with electoral backlash. Hopefully Adityanath is a team player, and won't try to win one battle at the cost of losing the wider war. He needs to be proactive in pursuing outreach to Muslims.
The media are putting out their own theories on why Yogi Adityanath has been appointed, claiming that he's being brought in as a foil to allow Modi to look more "moderate":
Oh well, at least it's a step up from "Indira is Secular, Indira is Communal"
It now remains to be seen how the great "freedom fighters" of the Valley should show how they feel about this development.
Friday, March 17, 2017
- The Rupee is on a tear: A strong rupee is good news for corporate India. Many firms hold debt in foreign currencies, so a fall in the exchange rate means their interest outgo will reduce.
- Counter-offensive: India trains Vietnamese soldiers in jungle warfare. Vietnamese sailors are also being trained to operate Russian Kilo class diesel electric submarines at the Navy's submarine training school.
- Importing international student = exports: American colleges and universities constitute an enormous economic engine. More international students equals stronger colleges and universities, more productive workers, more American jobs, and higher GDP — ad infinitum, in a virtuous cycle.
- Theft and damage: The Dark Secret Behind India's Solar Plan.
- Deep Work: How to double your productivity and work less (really)
- Smartscooter: The 'Tesla of scooters' is about to rapidly expand in Berlin
- Nation of Arab worshipers: In Pakistani pulp fiction, the scariest villian is always the Hindu
- IIT Madras RISC-V International Conference April 2017: Under the auspices of the IIT Madras Computer Architecture Initiative and the SHAKTI Processor Project, the team at IIT Madras will host RIC2017 this coming April 2nd and 3rd, 2017 in Chennai India.
- Dead zones: Large Sections of Australia’s Great Reef Are Now Dead, Scientists Find. Australians ask Adani to abandon project: The project involves dredging 1.1 million cubic metres of spoil near the Great Barrier Reef Marine Park, which will then be disposed off on land.
Simultaneously, the Trump Whitehouse is putting together a huge new arms deal package for Taiwan:
Meanwhile, Pakistan is trying to unilaterally strip Gilgit & Baltistan away from POK in order to facilitate the CPEC corridor:
Thursday, March 16, 2017
Meanwhile, the US SecState Tillerson is calling for a "new approach" on dealing with NorthKorea, whose progress in development of nuclear weapons and missiles have gone past all thresholds of US tolerance.
Wonder Woman is played by the Israeli actress Gal Godot, whose other acting credits are mainly just the Fast & Furious racing-action movies. The movie will come out this summer.
With allegations of foreign interference in various elections dominating headlines these days, it would be best for Indian authorities to be on guard against electoral meddling attempts by China, including hacking of servers or other actions against political parties. The Chinese are quite bold and ruthless - look at the way they've interfered in the politics of Cambodia, Thailand, Philippines, among others. Given their derisive opinions towards India, there needs to be vigilance against any interference by them.
#evmfraud cannot be explained away easily; tho i think there was no systematic tampering now, as that's a congress specialty
the election commissioner's letter is hardly reassuring, and i don't think this is the last word on the matter. what indiresan et al said earlier was total bullshit, and i hope things have improved since then. but i have my doubts about the chips involved, the firmware, and the processes. the whole thing needs a thorough security audit.
Wednesday, March 15, 2017
As nationalism begins to sweep Europe, the Lefties are afraid that Trump forces are linking up with European nationalist forces - and of course the always evil Russians - in order to undermine the EU and Atlanticist goals.
So we can see here that the Red-Green/Leftist-Islamist combine will be using Lawfare (legal/judicial activism) to impose their will on the rest of society, like a Tail Wagging the Dog. Meanwhile, Muslim countries are totally free to impose whatever infringements they want upon anyone they please. "What's Mine is Mine, What's Yours We Share"
And of course treaties like the Indus Waters Treaty are all about ensuring Pakistan's access to water, but make no effort to support India's water rights, especially as a downstream lower riparian state to rivers coming from Chinese-controlled territory.