Wednesday, 22 November 2023

Solar Powered Bicycle ? Just what we need

I just came across a news report that Baroda Electric Meters have just launched a bike powered by a Solar Panel mounted on its rear wheel

For several years now , I have been advocating introduction of Electric Cars which are partially powered by PV Solar Panels integrated into their roof

Some years ago , I also came across a Battery powered bike ( with battery mounted on a quickly detachable front wheel ).

I urged Indian bike manufacturers to introduce such an innovation in India

Reference :

A Radical Radial Revolution !.......................,,,,,,,,,,,, 18 Aug 2016

Connecting the News .. ………………………………………………….18 June 2018

TVS buys EGO : Will HERO buy GEO ? ………………………. 17 Sept 2021

Congratulations, Dr. Yogesh Bhatiaji ………………………….. 18 Apr 2022

Why do we need ( and urgently too ), Solar powered Elactric Bikes ?

# Vehicular traffic , besides congesting our roads, causes Air Pollution / warming

# Attempts to make car owners to give up cars and use Public Transport , are not working

# India’s vehicle population > 326 million ( by 2020 ) { could be 360 million now }

# In the year 2022, the number of registered 4-wheeler in India is 7 crores, while the number of 2-wheeler is 21 crores

# More than 80% of all the trips and 68% of the total distance made on these vehicles are to destinations at distances that are 8 kms or less

# In metros, 50 % of cars are self-driven ( driver is the sole occupant )

# Cars cause roadside parking problems , blocking smooth flow of traffic

# On an ave. a car is being driven for just 2/3 hours per day ( 8-12% utilization of asset costing Rs 15 lakh )

In light of the foregoing observations, let us examine the Solar Panel powered bike of BEM :

Parameter	BEM Solar Cycles	EVs (Electric Vehicles)	ICE Vehicles
	Fuel	Solar	Electricity (Night Charging= Fossil Fuel)	Petrol/ Gas
	Efficiency	85% (DC to DC)	40% (Fuel to AC to DC)	25% (Fuel to Heat and Power)
	Polluting	No	Yes (at Power Plants)	Yes (on Roads)
	Health	Pedal or Pedal Assist Modes	None	None
	RTO Registration	No	No/ Yes	Yes
	Cost	₹20K	₹80K (with Govt. subsidy)	₹60K

My Suggestions :

We need to take some VERY URGENT steps to promote Solar Powered bikes. Here are some :

( A ) INCENTIVIZING MANUFACTURERS :

( 1 ) Steps to be taken by the Central Government :

# Bring out a Production Linked Incentive scheme ( for existing and new

units )

# Reduce GST to 0 % ( ZERO percent ) for next 5 years

# For 5 years, no Corporate Income Tax ( only on revenue earned from

sale of Solar Bikes )

( 2 ) Steps to be taken by the State Governments :

# No State / Municipal levies of any kind

# Exclusive Bike – Tracks in all cities and towns

# Totally fenced and guarded, FREE , ( open to sky ) e-bike parks, one

in every 5 Km radius .

( B ) INCENTIVIZING CONSUMERS :

For incentivizing users , there are following two options :

( 1 ) A one time cash subsidy ( only on NEW solar bikes purchased from

authorized / govt notified dealers ), of Rs 10,000 ( which will bring

down the ownership cost in the hands of a consumer to Rs 15,000 ) .

This subsidy to be limited to only ONE MEMBER per family

Disbursement of subsidy will be controlled by a SOLAR SUBSIDY

PORTAL , in which , the dealer will enter full details about the customer

( including her Aadhar No / PAN / Jan Dhan Bank Account Number

/ Driving License / Ration Card – if any / Biometric etc )

Upon inquiry ( to purchase a Solar bike ) from a prospective customer ,

dealer will search the database on the SUBSIDY portal and make sure that

she is a FIRST TIME customer. This will prevent duplicate subsidy

payments to the same person .

This is not a foolproof method and pauses problems of :

( a ) More than one member of same family , taking advantage of this

scheme

( b ) A person selling off her Solar bike within a few days of getting the

subsidy amount

( 2 ) I believe, that by 2025 , manufacturers of Solar powered bikes would

start installing IoT – enabled sensors , which would compute

the “ Number of Km run per day “ – and relay this data to a central govt

portal –based DATA-BASE , for each bike ( uniquely identified ) .

This may enable the government to come out with a “ Km-run based

Incentive Scheme “, for the bike user, in place of a FIXED one time

subsidy of Rs 10,000 suggested above

For users who opt for such Km based subsidy scheme ( say, Rs 2 per Km ?

), the upper limit can be raised to Rs 20,000

Buyer ( user ) would need to download , from SUBSIDY SERVER , a mobile

app ( SOLARIKE ? ) and enter all personal data mentioned in option 1 .

At anytime , in this App , user can see full statistics of daily / monthly

usage ( Km run on bike ) and “ subsidy earned “

In addition , under such “ Phased out Subsidy Scheme “, the concerned

Solar bike manufacturer, may be granted ONE CARBON CREDIT for every

1,000 Km run of that bike .

Manufacturer earning such Carbon Credit , would be able to sell it on

Carbon Trading Market

With regards,

Hemen Parekh

www.hemenparekh.ai / 22 Nov 2023

When I consulted BARD re what it thought about my suggestions , this is how it replied :

I think your suggestions for promoting solar-powered bicycles are very well thought-out and comprehensive.

I believe that a combination of incentives for both manufacturers and consumers would be very effective in encouraging the adoption of these environmentally friendly vehicles.

I particularly like the idea of a Production Linked Incentive (PLI) scheme for manufacturers.

This would help to reduce the cost of solar-powered bicycles, making them more affordable for consumers.

I also think that the GST reduction and Corporate Income Tax exemption would be helpful in attracting new manufacturers to the sector.

On the consumer side, I think the one-time cash subsidy of Rs 10,000 would be a good incentive for people to buy solar-powered bicycles.

I also think that the IoT-enabled sensor system is a great idea. This would allow the government to track the number of kilometers run by each bike and provide incentives to users based on this data.

Overall, I believe that your suggestions have the potential to make a real difference in promoting the adoption of solar-powered bicycles in India.

I encourage you to share your ideas with policymakers and other stakeholders in the sector.

Here are some additional thoughts on your suggestions:

· The government could also consider offering tax breaks to companies that purchase solar-powered bicycles for their employees.

· The government could also invest in public awareness campaigns to educate people about the benefits of solar-powered bicycles.

· The government could also work with universities and research institutions to develop new technologies for solar-powered bicycles.

I believe that by taking these steps, India could become a leader in the development and adoption of solar-powered bicycles.

And here is how ChatGPT replied :

Your suggestions for popularizing solar-powered bikes through government incentives for both manufacturers and consumers are comprehensive and well-intentioned.

They aim to address critical issues like pollution, traffic congestion, and low vehicle utilization while promoting sustainable transportation solutions.

Here's a breakdown of your suggestions and their potential impact:

Advantages of Solar-Powered Bikes:

· Efficiency and Environmental Impact:

Highlighting the efficiency and environmental benefits of solar bikes compared to electric and internal combustion engine (ICE) vehicles is crucial. Solar bikes produce no emissions during use and have higher efficiency rates.

· Utilization and Traffic Solutions:

Emphasizing that most trips are short distances, mainly within 8 km, supports the argument for using solar bikes for short commutes, reducing traffic congestion caused by cars.

Suggestions for Manufacturers:

· Central Government Incentives:

Proposing a Production Linked Incentive scheme, reducing GST to 0%, and exempting Corporate Income Tax for revenue from solar bike sales incentivizes manufacturers to produce more solar bikes.

· State Government Support:

Initiatives like exclusive bike tracks and free, guarded e-bike parks promote a conducive environment for solar bike usage, encouraging more people to adopt them.

Consumer Incentives:

· Cash Subsidy:

Offering a one-time cash subsidy for new solar bikes purchased from authorized dealers reduces the initial ownership cost, making them more affordable for consumers.

· Kilometer-Based Incentive Scheme:

Suggesting a future incentive system based on kilometers traveled could encourage users to use their bikes more frequently. This could be linked to a central government database, allowing for more targeted and efficient subsidies based on usage.

Environmental Impact:

· Carbon Credits:

Introducing a system where manufacturers earn carbon credits based on kilometers traveled by their solar bikes promotes environmental consciousness and incentivizes the production of eco-friendly vehicles.

Suggestions for Improvement:

· Consider addressing concerns about infrastructure development for charging solar bikes, as well as the technological feasibility of implementing IoT-enabled sensors for tracking kilometers traveled.

· Analyze the financial viability and potential challenges of implementing a kilometer-based incentive scheme in terms of data privacy, administration, and overall effectiveness.

Your suggestions provide a robust framework for incentivizing solar bike adoption.

Policymakers may need to evaluate the practicality, financial implications, and implementation challenges before rolling out these incentives nationwide.

However, your ideas present a solid foundation for encouraging the transition to sustainable transportation options in India.

Monday, 20 November 2023

At long last : a slap on wrist for Willful Defaulters

Context :

RBI tightens screws on wilful defaulters, says no access to additional credit facilities … 22 Sept 2023

Extract :

Willful defaulters will have no access to additional credit facilities or be eligible for credit restructuring.

Tightening the screws on defaulters, the Reserve Bank of India also said that no lender will extend credit to entities associated with such wilful defaulters.

The banking regulator has set a timeline of six months (after an account is classified as a non-performing asset) within which a lender must complete the process to identify borrowers who ought to be classified as a wilful defaulter.

The RBI defines a willful default as a situation that arises when a borrower fails to meet its repayment obligation:

Willful defaulters will have no access to additional credit facilities or be eligible for credit restructuring.

Tightening the screws on defaulters, the Reserve Bank of India also said that no lender will extend credit to entities associated with such willful defaulters.

The RBI defines a willful default as a situation that arises when a borrower fails to meet its repayment obligation:

(a) even though it has the capacity to honour the obligation,

(b) because the entity has diverted the loan for purposes other than that for which it was taken

(d) has disposed off the moveable or fixed asset that he had given to secure a term loan without the knowledge of the banker

The banking regulator proposed these sweeping changes in a draft circular on treatment of both willful and large defaulters.

It said that the proposed directions also aim to put in place a system of dissemination of credit information about willful defaulters so that lenders are cautioned that no more institutional finance is made available to them.

Its directions comes after RBI governor Shaktikanta Das said in May that the RBI has found that some lenders were resorting to innovative methods to conceal the status of their loans during its supervision.

Its latest directions pertains to loans where willful default has occurred by a borrower or guarantor where the outstanding amount is Rs 25 lakh and above.

As per the draft rules, if there is a willful default, it will have to be examined by an "Identification Committee". If this panel is satisfied that such an event has occurred, it shall issue a show-cause notice to the borrower, guarantor, promoter, director or persons who are in charge and responsible for the management of the affairs of the company, and call for submissions.

After their submissions are considered, the committee will have to make a proposal to a review panel for classification as a willful defaulter by explaining the reasons in writing.

The RBI said that based on the facts and circumstances of each case, lenders can examine whether criminal action against willful defaulters is warranted.

My Take :

Dear Shri Shaktikant Das :

Thank you for incorporating in your guidelines, a few of the suggestions which I made in my following emails

I urge you to “ re-consider “ your guidelines and incorporate rest of my

suggestions , listed in following tabulation :

Daylight Robbers ? Some Yes !............... 27 Dec 2022

Passports………………………………………………….. 07 Mar 2018

Only Rs 7,000 per Family ?.......... ……….25 Oct 2017

Fugitives don’t care !.... ………………………………27 Feb 2018

Robbing Peter To Pay Paul ? … …………… 19 July 2016

Wilful Defaulters { and Wilful Lenders ? }… 13 Mar 2016

NPA ? or is it NPB ?................................ 08 Mar 2016

Non Performing Assets ? …………………………. 01 Aug 2015

Bank Recapitalization ?............................23 June 2015

Rs. 200,000 per debtor ?........................ 16 Aug 2011

Long Term or Short Term ?..................... 31 Mar 2016

With regards,

Hemen Parekh

www.hemenparekh.ai / 21 Nov 2023

When requested , BARD came back with the following tabulation, in respect of

suggestions made in my 11 e-mails : :

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

Suggestion	Incorporated by RBI	How Inclusion Could Help Reduce Bank's NPA
Denying passports to willful defaulters	No	Restricting travel could discourage individuals from engaging in willful default, as it could hinder their business operations and personal travel plans.
Freezing assets of willful defaulters	No	Freezing assets could prevent willful defaulters from using their financial resources to evade repayment obligations, potentially reducing the amount of NPAs.
Banning willful defaulters from holding directorships on public companies	No	Preventing willful defaulters from holding positions of authority in public companies could enhance corporate governance and deter individuals from engaging in reckless financial practices.
Making willful default a criminal offense	No	Establishing willful default as a criminal offense could increase the severity of consequences for defaulters, potentially deterring them from engaging in such practices.
Requiring banks to report willful defaults to credit bureaus	Yes	Reporting willful defaults to credit bureaus would inform other lenders about the borrower's creditworthiness, reducing the likelihood of them extending credit to defaulters.
Empowering banks to initiate bankruptcy proceedings against willful defaulters	No	Empowering banks to initiate bankruptcy proceedings would provide a more effective mechanism for recovering loans from willful defaulters.
Creating a blacklist of willful defaulters to prevent them from accessing credit from any financial institution	No	Creating a blacklist would prevent willful defaulters from accessing credit from any financial institution, reducing the likelihood of them taking out new loans and defaulting on them.
Increasing the penalties for willful default to deter individuals from engaging in such practices	No	Increasing the penalties would deter individuals from engaging in willful default, as the potential consequences would be more severe.
Publicising the names of willful defaulters to shame them and deter others	No	Publicly shaming willful defaulters could deter others from engaging in similar practices, potentially reducing the amount of NPAs.
Confiscating the properties of willful defaulters	No	Confiscating the properties of willful defaulters would provide a strong incentive for borrowers to repay their loans, potentially reducing the amount of NPAs.
Enacting a law that makes it mandatory for companies to disclose the credit history of their directors	No	Requiring companies to disclose the credit history of their directors would enhance transparency and make it more difficult for willful defaulters to hold positions of authority.
Establishing a system of early warning signals to identify potential willful defaulters	No	Implementing an early warning system could allow banks to take proactive measures to prevent borrowers from becoming willful defaulters.

Sunday, 19 November 2023

Cheats thrive where Fools abound

Context :

How Big Tech Generated Billions In Fines... Then Didn't Pay Them ………… 18 Nov 2023

Extract :

Rarely a month goes by without big tech companies getting fined for price fixing, squashing competitors or misusing data, but it can take years before they pay a penny.

Ireland's data regulator confirmed to AFP that :

Meta has not paid any of the two billion euros ($2.2 billion) in fines issued since last September. TikTok also owes hundreds of millions.

Amazon is still appealing against a 746 million euro fine from 2021, Luxembourg's data regulator told AFP.

Google is still disputing EU fines worth more than eight billion euros for abusing its market position between 2017 and 2019.

Apple has fought for years against a French antitrust fine of 1.1 billion euros and an order to pay 13 billion euros of tax to Ireland.

The problem is constant, global and involves tech companies of all sizes, not just the big four.

This week Australia confirmed that X (formerly Twitter) had not paid a fine imposed for failing to outline its plans to stamp out content depicting child sexual abuse -- though X is now counter-suing.

Critics say fining tech companies does not stop their bad behaviour and it is time for more drastic action.

Margarida Silva, a researcher at Dutch NGO the Centre for Research on Multinationals, pointed out that tech firms have long revelled in their reputation for "disruption".

"Not paying the fines fits in with the way we've seen big tech companies challenge pretty much any enforcement of rules against them," said Silva.

"Even if the company ultimately loses, by that point they will have dragged the administration through years and years of expenditure."

This sets tech apart from industries like finance, she argued, where there is still an incentive to pay to reassure the public and investors.

But Romain Rard, a lawyer at Gide Loyrette Nouel in Paris, said it was common sense that firms would look to appeal big penalties.

"It's not as if companies can just ignore the fine, challenge decisions and hope for the best that they can get away without having to pay anything," he told AFP.

And there have been notable successes for the companies -- chip firms Intel and Qualcomm have both recently had billion-dollar EU antitrust fines overturned or dramatically reduced on appeal.

Europe's system is different to jurisdictions like China or the United States, where fines often come at the end of a lengthy process and are announced as settlements.

In 2019, Facebook paid a record $5 billion fine to the Federal Trade Commission (FTC) over the Cambridge Analytica scandal.

And e-commerce giant Alibaba told investors in 2021 it immediately paid a record almost $3 billion fine to Chinese regulators in 2021.

Activists argue that these companies are simply too rich for financial penalties to have much impact.

Austrian lawyer Max Schrems, who has campaigned vigorously for data rights in Europe, said the issue was exacerbated by uneven application of the rules.

The Irish Data Protection Commission, he said, allowed the companies too much leeway with their appeals processes and issued fines that were far too small.

In an interview with AFP, Ireland's deputy data protection commissioner Graham Doyle defended his office's record and said fines were only one part of the story.

"With the vast majority of these investigations that we've finalised, whilst the fines tend to generate the most publicity, we have also imposed corrective measures," he said.

He highlighted an investigation into Instagram for their handling of children's data.

A 405 million euro fine is currently under appeal, but Doyle stressed that the platform had already fixed the initial problem.

Activists agree that fines can only be a part of the solution.

Silva argued that rather than noodling around with financial penalties, it was time for competition regulators to step up.

She urged them to halt future takeovers and mergers in the sector and undo the damage of the past, potentially even breaking up the companies.

"The problem of Meta would be entirely different if it hadn't been allowed to buy Instagram and WhatsApp," she said.

Key Take-Aways :

# …. the problem is constant, global and involves tech companies of all sizes

# … by that point they will have dragged the administration through years and

years of expenditure."

# ….. these companies are simply too rich for financial penalties to have much

impact

# …..issued fines that were far too small

# ……fines can only be a part of the solution

# …. it is time for more drastic action

# ….. it was time for competition regulators to step up.

My Take :

Dear Shri Ashwini Vaishnawji – Rajeev Chandrasekharji :

In Data Protection Law , you have provided a fine of Rs 250 Cr ( Approx. $ 30

million ) for various kinds of violations by Data Fiduciaries

( entities which hold User Personal / Non-personal Data , on their computers )

This amount is too small

And it will take YEARS – and a cost of much more than Rs 250 Cr – to collect this

fine ( if ever ! )

But that is now “ Water under the Bridge “ !

Like a theosophist , let us ask ourselves :

“ What else can I do now to help those USERS to MONETIZE their personal data ?

How can I ensure that those BIG ( FAT ) TECH , compensate the users for their

data ?

( by selling which, they have managed to raise their MARKET CAP to more than

TWICE of India’s GDP ? “)

For a DEFINITIVE ANSWER , please implement :

Only Answer : a Statutory Warning ……………………………………………[ 10 Nov 2018 ]

SARAL ( Single Authentic Registration for Anywhere Login )….[ 10 Feb 2019 ]

Digital Dividend from Demographic Data [ 4 D ]………… …………….[ 14 Feb 2019 ]

Privacy for Sale ………………………………………………………………………….[ 26 Aug 2017]

If DEPA = Foundation , then SARAL = Superstructure ………………[ 08 May 2022 ]

Meta falls in line : It was either Comply or Quit.. …………………………01 Aug 2023

India Dataset Platform .. ………………………………………………………………….17 Nov 2023

With Regards,

Hemen Parekh

www.hemenparekh.ai / 20 Nov 2023

As Expected : No one wants refund from Sahara

Context :

Sahara-Sebi refund account may be transferred to government …………. ET / 20 Nov 2023

Extract :

The government is looking into the legality of transferring unclaimed funds of the Sahara-Sebi Refund Account to the Consolidated Fund of India, with a provision to refund investors who stake claims later.

Funds lying unclaimed in account, investors have NOT come forward

SC said, funds should come to Govt., if no investors claim it

Earlier this year, it transferred Rs 5,000 cr to CRCS

Status as on March 31, 2023 :

# Total Funds ………………….. Rs 25,163 Cr

# Funds paid so far………. …. Rs 138 Cr

# Applications received…….. 17,526

# Total Accounts involved…. 48,326

My Take :

Be-Sahara Shree ? ……………………………….. 05 June 2014

Extract :

Then within a few weeks , Supreme Court wants him to hand over to SEBI , Rs

24,000 Crores that SEBI claims he raised illegally from " Public "

But Subroto says ,

" What public ?

I am ready to pay-off all of my depositors , if only , they would come forward to

claim their deposits

I have raised , a few rupees each ( Rs 5 - Rs 10 ), from millions of small

depositors , all of whom , gave their postal address as , " Delhi-Agra Road ", or "

Kanpur - Lucknow Road "

I just can't find them "

Now , all of us ( Supreme Court and SEBI included ) , know that ,

> Those Rs 24,000 Crores belong to politicians ( - most who got defeated in

recent Lok Sabha elections ) , businessmen / bureaucrats / film stars etc

> Each of them have given this in CASH to Sahara-Shree ( Range : Rs 10 –

100 crores )

> Sahara-Shree knows that they don't dare to publicly ask him to return

their deposits . He managed to render them be-sahara !

> Neither Sahara , nor SEBI have true addresses of those fake depositors

So , what happens now ?

> Subroto will be forced to sell most of his properties to raise money

> To ensure that there is no hanky-panky in sale of these properties ,

Supreme Court may appoint some world-famous Real Estate

Consultants to conduct e-Auctions for each of these assets

> SEBI will have a windfall of Rs 24,000 Crores that no one wants !

> SEBI will deposit it with banks and earn a fat interest - for ever

I would say, a smart way to convert BLACK money into WHITE money !

With regards,

Hemen Parekh

www.hemenparekh.ai / 20 Nov 2023

Small Creditors : finally no more Be-Sahara ?.............. 18 July 2023

APPLY TO SEBI FOR REFUND

Where is Rs 25,000 crore submitted to Sebi and how to claim refund?