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New 100-rupee note poses fresh headaches for ATM operators

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Rs. 100

Mumbai, July 21 : The Reserve Bank of India’s (RBI) announcement launching a new series of 100-rupee denomination notes has been greeted with trepidation by the major companies engaged in the manufacture and supply of Automatic Teller Machines (ATMs) in the country.

Like the new post-demonetisation Rs 2,000, Rs 500, Rs 200 and the new Rs 50 notes and Rs 10 notes, even the new lavender-coloured Rs 100 is a tad smaller in size compared to the blue-coloured Rs 100 notes currently in circulation.

While the existing Rs 100 notes are sized 157×73 mm, the new ones measure 142x66mm, as per the RBI announcement this week.

“This means that all the 237,000 ATMs in the country would again have to be re-calibrated to dispense the new Rs 100 notes. This entails a massive effort which is both time-consuming and adds to our costs,” Confederation of ATM Industry (CATMi) Director V. Balasubramanian told IANS.

For recalibrating all the ATMs in the country to enable them dispense the new Rs 100 notes, the operators need the concerned bank’s official Cash Agency and an engineer of the machine manufacturer together.

“Though the actual recalibration may take barely 20 minutes per ATM, there are huge logistical issues involved in getting the Cash Agency person and engineer together all the time. Even then, with best efforts they can recalibrate barely 15-20 ATMs per day depending on the banks’ cooperation. So, this will be a huge time-consuming and high-cost exercise at a national level,” Balasubramanian rued.

Hitachi Payment Services Managing Director Loney Antony estimates that the entire recalibration process could cost over Rs 1 billion (Rs 100 crore) and take a minimum of one year to complete.

“In fact, the recalibration of the new Rs 200 notes introduced last year is still not completed in all ATMs, so recalibration of the new Rs 100 notes could take even longer unless planned properly,” Antony cautioned.

The RBI said in its notification that initially, the new Rs 100 notes will be dispensed only through bank branches and printing and supply would gradually increase.

Antony said it is important to have sufficient supply of Rs 100 and Rs 200 notes to ensure there are enough lower denomination currency notes in circulation for all transactions.

Balasubramanian said the ATM industry is grappling with the problem of how to recalibrate the ATMs in terms of the new and old Rs 100 notes and may refrain from doing so till sufficient numbers of the new notes are available.

Euronet Services India Pvt. Ltd. Managing Director Himanshu Pujara said unless all the ATMs are recalibrated, the new notes will not be available through this channel to the people, and recalibration itself is a time-consuming and expensive process for the already struggling industry.

Balasubramanian — who is also the President of FSS Company that manufactures ATMs — said that since the old and new Rs 100 notes will co-exist till the RBI completely withdraws the old notes, “it will be difficult to recalibrate all the ATMs to support the new Rs.100 notes”.

“There is likelihood of an imbalance between the supply of the new notes and the withdrawal of the old notes, especially in the hinterland,” Balasubramanian pointed out.

In such a scenario, he thought it would be prudent to let the banks and service providers decide when to calibrate the ATMs for the new notes, depending on the “supply-withdrawal” situation of the old notes across all states over the next few quarters.

At present, as per National Payments Council of India Ltd (NPCIL), there are around 237,000 ATMs functional in the country, but to adequately cater to the entire country’s population, the need is almost three-four times more, or around a million ATMs.

Flying in the face of the government’s declarations about digitising the economy, a whopping 57 percent of all ATM transactions are only for cash withdrawals. Immediate Payment Service (IMPS) lags at 20 per cent followed by Point of Sale (PoS) 17 percent, and rest for Unified Payment Interface and mobile wallets. (Total = 100 percent, as per RBI).

Major industry players say that, barring the metros and urban centres, people in states like Uttar Pradesh, Maharashtra, Bihar, West Bengal, Madhya Pradesh and others have to travel 40 km or more to access an ATM.

“Moreover, as per official data, barely 30 per cent of bank account holders in the country regularly use their ATM cards… the others prefer cash transactions. There are problems of infrastructure and connectivity which hamper growth of ATMs network,” Balasubramanian pointed out.

India has among the lowest ATM penetration globally, averaging 8.9 ATMs per 100,000 population, compared to Brazil’s 119.6, Thailand’s 78, South Africa’s 60 and Malaysia’s 56.4.

Incidentally, China currently has around a staggering one million ATMs, which will touch 1.5 million by 2020.

(Qqaid Najmi can be contacted at [email protected])

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World Alzheimer’s Day 2020: Everything you must know about the brain disease

The theme for World Alzheimer’s Day 2020 is “Let’s Talk About Alzheimer.”

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Alzheimer disease

World  Alzheimer’s Day is observed every year on September 21. The day aims at raising awareness and challenge the common stigma that surrounds Alzheimer related dementia.

According to Alzinfo, every 65 seconds, someone develops Alzheimer’s disease. At current rates, experts believe the number of Americans living with Alzheimer’s will quadruple to as many as 16 million by the year 2050.

The theme for World Alzheimer’s Day 2020 is “Let’s Talk About Alzheimer.” The day was first observed in 2012.

What is Alzheimer?

Alzheimer, in simple terms, is a brain disease that negatively affects memory, thinking, and behavior. These changes interfere with daily living. According to the Alzheimer’s Association, Alzheimer’s disease accounts for 60 to 80 percent of dementia cases. Most people with the disease get a diagnosis after age 65. If it’s diagnosed before then, it’s generally referred to as early-onset Alzheimer’s disease.

Symptoms of Alzheimer:

According to the National Institute on Aging, in addition to memory problems, someone with Alzheimer’s disease may experience one or more of the following signs:

  • Memory loss that disrupts daily life, such as getting lost in a familiar place or repeating questions.
  • Trouble handling money and paying bills.
  • Difficulty completing familiar tasks at home, at work, or leisure.
  • Decreased or poor judgment.
  • Misplaces things and being unable to retrace steps to find them.
  • Changes in mood, personality, or behaviour.
  • Withdrawal from friends, family, and community.

Stages of Alzheimer:

  • Stage 1. There are no symptoms at this stage but there might be an early diagnosis based on family history.
  • Stage 2. The earliest symptoms appear, such as forgetfulness.
  • Stage 3. Mild physical and mental impairments appear, such as reduced memory and concentration. These may only be noticeable by someone very close to the person.
  • Stage 4. Alzheimer’s is often diagnosed at this stage, but it’s still considered mild. Memory loss and the inability to perform everyday tasks is evident.
  • Stage 5. Moderate to severe symptoms require help from loved ones or caregivers.
  • Stage 6. At this stage, a person with Alzheimer’s may need help with basic tasks, such as eating and putting on clothes.
  • Stage 7. This is the most severe and final stage of Alzheimer’s. There may be a loss of speech and facial expressions.

Treatment Of Alzheimer:

Alzheimer’s is most commonly identified through patient and family history, and by talking to the immediate family about the presence of symptoms. Also, brain imagining may be suggested to check for beta-amyloid protein deposits. As of today, there is no curative treatment for Alzheimer’s. Drugs are usually administered to manage symptoms and healthy lifestyle changes.

Despite this, Alzheimer’s is one of the most expensive diseases to get treatment for. The global cost of dementia is estimated to be around $1 trillion currently.

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At 7, child prodigy honours literary legacy with first book

They added that the title of the book, cover page and all the illustration are also a part of her creativity.

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Abhijita a student of Class II

New Delhi, September 20: Padma Bhushan recipient Rashtrakavi Maithalisharan Gupts and Santkavi Siyaramsharan Gupt’s great grand daughter Abhijita Gupta, who is all of seven years and a child prodigy, has penned her first collection of stories and poems.

The book titled ‘Happiness All Around’, and was launched by Oxford Bookstores’ children’s wing, Oxford Junior in collaboration with Invincible Publishers. Seven-year-old Abhijita, taking after her family’s literary legacy, had started writing at a very tender age of five years.

The collection is an attempt to give children something to read, written by someone of their own age. (Abhijita Gupta – “The little poet”/Facebook)
“Abhijita is a student of Class II and is a third generation writer, to poet duo Rashtrakavi Shri Maithalisharan Gupt and Santkavi Shri Siyaramsharan Gupt. She is an avid reader and very expressive with her pen. She wrote her first story when she was a little over five years. By the grace of goddess Saraswati, she is carrying forward the traits of her forefathers and we hope she extends the legacy of Sahitya Sadan Gharana,” her parents Ashish Gupt and Anupriya Gupta said.

They added that the title of the book, cover page and all the illustration are also a part of her creativity.

“For her, every little thing around her matters: what she sees, she hears, she touches, she smells, she tastes and she feels — constantly soaking in the environment around her. And, her debut book proffers just that – the pure senses and humane values like an elixir.”

The collection is an attempt to give children something to read, written by someone of their own age. The book could prove equally useful for parents of young children, as it gives an insight into the mind of a six-seven year old and what thoughts and things interest her. The writings have been left untouched so that the innocence, mistakes included, of the child are not diluted.

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Covid-19 joblessness pushing youths to extremist groups in Northeast

Adding to this are the reports of a large consignment of China-made weapons reaching the hands of the secessionist Myanmar-based radical groups, who share close links with militant groups in India’s Northeast.

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Unemployment Rate in India

India’s Covid-19 pandemic lockdown is now giving headaches to the national security agencies. Youth, left jobless during the pandemic, are reported to be joining the banned rebel groups such as the United Liberation Front of Assam (ULFA) and other such, in droves.

Adding to this are the reports of a large consignment of China-made weapons reaching the hands of the secessionist Myanmar-based radical groups, who share close links with militant groups in India’s Northeast.

The emerging scenario is threatening to upset the delicate balance achieved through years of hard work by the Indian security and intelligence officers, according to senior executives in the national security establishment, who requested to stay unnamed, citing government service rules.

The Arakan Army (AA) — which seeks an independent homeland in Myanmar’s Rakhine state — has received the fresh cache of Chinese weapons and is known to be one of the key suppliers of arms and ammunition to the rebel groups in Northeast India.

In addition, the AA opposes India’s Kaladan Multi Modal Project, which provides states like Mizoram — a landlocked province — an outlet to the sea through the Sittwe port in Myanmar, officials said. Interestingly the AA has not opposed the China-Myanmar Economic Corridor.

Security agencies have told the government that insurgent groups active along the Indo-Myanmar border find easy recruits among youth left unemployed by Covid-19 pandemic lockdown.

“The successful induction of the Chinese-made weapons by the AA will have an impact on the security situation in India’s Northeastern states, as much of these weapons are finding their way to some of the dormant militant groups of the Northeast,” the official said.

“The new weapons provide firepower to the northeastern groups whose ranks are increasing as youth left jobless by the pandemic are signing for militant groups.”

Strengthened by new recruits and rearmed, the Khaplang faction National Socialist Council of Nagaland (NSCN-K) — a banned militant group of Northeast based out of Myanmar — is gathering along the Indo-Myanmar Border in areas such as Mon to plan and execute attacks against the Indian security forces.

In 2016, the NSCN (K) killed 18 soldiers of the Indian Army, forcing India to launch cross border strikes on the militant hideouts taking refuge in Myanmar.

Worryingly, for India, peace talks with the Naga rebel groups have failed despite efforts of the Narendra Modi government.

Agencies have warned that groups like the People’s Democratic Council of Karbi Longri (PDCK) had recruited 15 fresh cadres in Assam. “There was recruitment of 10-15 cadres by the Karbi People’s Liberation Tiger in the outfit,” the source said.

Further, United Liberation Front of Assam (ULFA) had recruited 15-20 youths in the outfit from Meghalaya.

In Tripura, intelligence input indicates that extremist Parimal Debbrama of National Liberation Front of Tripura (NLFT) is trying to revive his group and some newly recruited members of the outfit had completed their basic training in a hideout of Khagrachari District of Bangladesh.

“These cadres are planning to infiltrate into India for operations,” the source further added.

Intelligence agencies also stated that the India-Myanmar border remained susceptible to threat due to the presence of insurgent groups.

“Many insurgents groups are camping in Myanmar and trying to infiltrate through Tirap, Longding and Changlang districts of Arunachal Pradesh, Mon District of Nagaland and Charaideo district of Assam,” the source said.

(Sumit Kumar Singh can be reached at [email protected])

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