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