Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Tuesday, 23 July 2019

Cash Deposit Machine [ ATR = ATM V 2.0 ]




Congratulations,



Harihar Subramanian,

Everest Palraj,

S Venkatesh


{  all from Life Tel  }





For developing Cash Deposit Machine [ CDM ], as reported in :



Extract :


A Chennai-based start-up, Life Tel Communication, has come out with a cash-deposit machine (CDM) that accepts cash from customers of all banks.


If you have an account in bank ‘A’, you cannot deposit cash in another bank’s CDM. You can do that only in the CDM of bank ‘A’.


This is really a hurdle for people in many locations, particularly in rural areas, where customers may not have their bank’s branch in close proximity. 


Life Tel’s new CDM promises to remove this hurdle


“I think this is the first time in the country a CDM has come up with these kind of features. Our machine can be installed in any place in the country. It will be really useful in places where cash transactions are very high,” he said.


==============================================


And this is how Life Tel web site describes CDM :



Cash Deposit For Any Bank Account


  Investor will get a minimum charges from the user compared to other kiosks

  For making cash deposit for all the banks and as far as the RBI approval concerned, we have got an API from a bank through which the interbank transfer will happen.


 we are very keen on the sensor to read the new notes introduced by RBI. All the necessary steps are taken every now and then and update our systems accordingly

===================================================================================


Some 3 years back , I emailed to Cabinet Ministers,  as follows :



Don't Expect This in Budget  …………………………….[  28  Feb  2016  ]




MY  SUGGESTION  :


*  Come out with ATM V 2.0 ( call it , " Automatic Taker Machine " ? )


*  Install one in every bank branch and at 145,000 post offices ( India Post's Payment Banks )


ATM V 2.0 does  NOT  " dispense" cash .  It only " accepts " cash  !


*  Cash depositor will enter personal details ( Aadhar No / Jan Dhan Bank A/C No etc ) and amount being deposited


*  ATM V 2.0 will count the cash ( much like currently used CASH COUNTERS at most bank branches )


*  It will print out a RECEIPT , giving full details


*  All ATMs ( V 2.0 ) will be inter-connected in a Network having a CENTRAL server


All cash deposited ( by every user ) will be used for Infrastructure SPV


*  Depositor will earn annual interest @ 5 % on CASH deposited ( Receipt wise )


*  Cash Receipts can be en-cashed upon maturity of 10 years ( like FIXED DEPOSIT receipts )


*  Interest will be TAX FREE and get directly deposited in depositor's Jan Dhan Bank A/c


No questions ( as to the source of the cash deposited ) will be asked ( Perpetual Amnesty Scheme )



I understand , Jan Dhan Yojana managed to garner deposits of approx Rs 30 thousand crores in 18 months


ATM V 2.0 , will bring back those Rs 34.4 lakh*crores of undisclosed assets that are lying in foreign banks ,


AND


Rs 340 lakh*crores of unaccounted BLACK MONEY lying in domestic bank lockers ( or locked up as gold / land )



In deep space , there are BLACK HOLES which suck in all matter . Even light cannot escape from a black hole


ATM V 2.0 will be our WHITE HOLES which will suck in all black money Indians have stashed anywhere  !


Let us use this INNOVATION , which is simply re-configuring  well-established and straight forward HW / SW !



Dear Shri Jaitleyji ,


There is no need to worry about how to raise revenue to fund those Infrastructure Projects to generate jobs


No need to widen tax net ( from 4 % to 23 % ) or borrow money from market or abroad


No need to announce in your budget speech this morning  ! No passing of any BILL in Rajya Sabha !

=====================================================

Dear Madam Sitharamanji,


To kick start the slowing economy , we need to pump in BILLIONS of dollars into our infrastructure projects



Sure, we can borrow some from abroad through Sovereign Bonds



But , surely, we don’t want to be like PIGS [ Portugal- Italy – Greece – Spain ] or Pakistan , which are reeling under Foregn Debt which they cannot repay !



I urge you to give a serious consideration to my suggestion



----------------------------------------------------------------------------------
24  July  2019


Rsvp :  hcp@RecruitGuru.com  


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