END THE DISCONNECT IN BANKING FAST

                                                                                          - By MILAN K SINHA

The major reforms in Indian Banking space, of course after nationalisation of 14 Banks in 1969, was based on the recommendations of Narasimhan Committee (1991). Important initiatives, such as putting in place the concept of new accounting and prudential norms relating to Income Recognition, Provisioning and Capital adequacy in line with international banking practices, were taken.

The norms for entry of private and foreign banks were also relaxed. Consequently, a paradigm shift in the functioning of Indian banks started taking place thereby necessitating adoption of technology as the main enabler of tomorrow's banking. Naturally, the entry of new generation banks in the Indian banking market with state-of- art technology, compelled the PSU banks also to fall in line to take care of efficient management of its liabilities, assets, capital and ever growing risks.

IT initiatives aimed at achieving two main differentiating service standards in country's banking and they have been: a) Connectivity and Communication; and b) Business Process Re-engineering (BPR).

We know that the protagonists of greater use of technology in Banks underline its need for ensuring delivery of lower cost, more secured and reliable, and more flexible options for developing products and services as per the changing requirements. So, today we are face to face with the technology driven and technology dependent banking which promises to let the customer experience the pleasure of Anywhere, Anytime, Convenience Banking. But, then why we often ask nagging questions about:

1. Status of CBS (Core Banking Solution) Banking

By and large, one should feel ok with the level of convenience provided by CBS system. But do you have any idea about the connectivity problem being faced by the users of this high cost IT initiative? Putting a play card of 'NO LINK' on service counters has become order of the day, maybe for the full day or for intermittent period. Sometimes, the bank branch put their shutter down without transacting any business throughout the day. The customers of semi-urban and rural branches are the worst hit in this regard.

2. ATM Working

Reasonably, yes. But, many a times one faces the problem of non-functional ATMs, issues related to failed transactions, ATM frauds and ATMs dispensing unclean notes (despite the much talked about 'Clean Note Policy' of RBI). Notwithstanding, these negative features of ATM banking, the top executives of banks claim that ATMs have made all the difference as it’s a 24x7 banking.

3. Promised services of Credit/Debit Cards

It is undoubtedly a heartening fact that credit and debit cards usage has increased many-fold due to its inherent benefits, but it is equally disheartening that complaints related to this facility is one of the highest as far as banking service complaints are concerned. The cyber-crime related to this growing segment is also becoming a cause of concern and have the potential of posing serious risk to the banks as well.

Yes, the impact of these disconnects between promises and actual delivery is that the customers now tend to either desert their primary banks or exercise option of banking with multiple banks.

So, it's time to pause, ponder, and review the areas of disconnects to end it fast for ensuring better banking experiences in days ahead.

           Will meet again with Open Mind. All the Best.

# Published in Patna Daily.com 

# Do visit my site : milanksinha.com

             

PRAISE OR CRITICISM - AN OPPORTUNITY FOR INTROSPECTION

                                                                                               - MILAN K SINHA

It's universal but normal human tendency to blame and criticise other people most of the time. Laurence C. Smith, Jr. says, "The frequency and universality of criticism in our society has a much greater overall effect on humans than the isolated incidents of other types of abuse. It is for this reason that I believe that criticism is the most universal and most negatively destructive force in our society".

     

Equally true is the fact that we praise someone for true reasons only rarely or maintain a very comfortable(?) position of silence - perhaps, such people know that at that point of time, to practice the old time-tested proverb, 'Silence is Golden', is more beneficial from materialistic point of view.

    

Yes, we do praise some people even without reason and the praise is so blatantly showered on that undeserved person that the word loses its meaning completely and turns into a brazen flattery. Unfortunately, this has been the way of political life which in its own way polluted other walks of life in our society. Historically, however, flattery has been a standard form of discourse, meaning conversation, when addressing a king or queen or power that be. The journey of world history does testify that it used to be a common practice among writers and poets to flatter the reigning authority. But, surprisingly, this age old culture has come to such a pass that currently the ruling political party has followers who blindly support all moves of the party, both good and bad alike. On the other hand, the opposition party followers criticise and blame the party in position for all things, good as well as bad. Can this culture be termed as healthy for any democratic political system?

     

Take some other situations. You might have also seen or yourself too have experienced the kind of flattery which may make you feel like a king which you are really not. But the flatterers always follow their own agenda to keep you in a dream world. The pertinent point here is to remain in your senses in those trying moments, not to blame the world afterwards. See my two lines below:

उनके वाह-वाही और  चाटुकारिता का कोई दोष नहीं था;

मुझे ही उस  वक्त खुद को सम्हालने  का होश नहीं था ।

       

 It is true that when we are praised, we feel happy at that moment. But, as Martin Yan of 'You Can Cook' fame says, "Happiness is within you. It has nothing to do with how much applause you get or how many people praised you. Happiness comes when you believe that you have done something truly meaningful."

        

Conversely, many a times you are criticised so badly and at times, so convincingly that you feel really dejected and depressed. In such a situation it is advisable to follow what Emile M. Cioran suggests, ‘Criticism is a misconception - we must read not to understand others but to understand ourselves’.

         

It is quite interesting to learn what the prolific and renowned composer, Mozart has to say on this emotive issue, "I pay no attention whatsoever to anybody's praise or blame. I simply follow my own feelings." John Wooden, the American basketball player, coach and writer of well -known book, Pyramid of Success, says it in a different way, "You can't let praise or criticism get to you. It's a weakness to get caught up in either one."

      

Anyway, whether it is fame or blame, praise or criticism - take it easy and thank all concerned for offering you an opportunity to introspect objectively.

             Will meet again with Open Mind. All the Best.

# Published in Patna Daily.com on 08.06.2013

# Do visit my site : milanksinha.com

NUTRITION RELATED DEATHS – A NATIONAL SHAME

                                                                                         - MILAN K SINHA

It hardly needs reiteration that how important it is for the country's real development to have a healthy population, more particularly of women and children. We talk and promise so much on the issue of child and woman welfare and do roll out so many plans and strategies. But malnutrition and under-nutrition have not stopped taking its toll in our country.

According to an UNICEF report, one in every three malnourished children in the world, live in India. In January this year, our Prime Minister said that despite an impressive GDP growth, the level of under-nutrition was unacceptably high that he termed as a "National Shame."

Let us consider some more facts:

• About 50% of all childhood deaths are attributed to malnutrition.
• Over two million under-5 deaths take place due to under-nutrition, that is, 6000 deaths every day, or 250 deaths per hour on an average.
• The under-nutrition cases are the highest in MP, Orissa, Bihar, UP and Rajasthan.
• 74% children under three and 52% of women in India are anaemic.
• As high as 44% children under the age of five are underweight.

It is also observed during various surveys that:

• Malnutrition in early childhood has serious long term consequences, because it impedes development of vital human organs. As such, it has a lasting impact on the child's overall physical and mental development.
• Malnourished children will struggle at school and are more prone to infectious diseases including HIV.
• Most of these children come from socially-deprived and poorest communities - tribals and lower castes where illiteracy is poor and poverty relatively very high.
• Adequate nourishment of the pregnant women was found to be very crucial not only for good health of the mother but also for the child's birth and thereafter.

Thus, the million dollar question is: who will address these issues which is a blot on our economic growth theory and more importantly, why it continues to be a national shame even after 65 years of independence.

             Will meet again with Open Mind. All the Best.

# Published in Patna Daily.com

# Do visit my site : milanksinha.com