Can credit card be made safe, please...!!??..

Saturday, September 25, 2010

There has been quite a lot of instance of misuse of credit card, in spite of it one is not sure about the security measure taken by the bank.

Credit card is a flexible instrument and very handy in the sense that, one need not carry cash in the valet. But safety is always a question mark in one mind when used merchant outlets or when you lose it.

Merchant outlet's
There is always an apprehension when card is taken out of sight for swiping it in the machine. 'Skimming' of credit card are possible, meaning illegally copying of information from the magnetic strip of a credit card. Once fraudster have skimmed your card, they can create a fake or ‘cloned’ card with your details on it. The fraudster is then able to run up charges on your account.

Loss of card
The other one, if Credit card is lost it might take few hours before you call the call centre to block your card, by that time the fraudster can make purchases. One of my friend in a matter of two hours, since he lost the card his credit card was swiped at two merchant outlet and he lost about Rs 35,000.

Can this not be prevented?.
Can the banks not provide a pin for credit card swipe as well, just like Debit card? I don't think there will be any challenge in providing such simple measure, which will go a long way in providing peace of mind to credit card user.

Will the banks think over?

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USD vs GOLD - Who is winning?

Sunday, September 19, 2010

The last two decades, the heavy weight battle is gaining momentum, the trend shows its between USD Vs Gold, particularly when compared with India currency.

The early ninties, India had balance of payment crisis, which made them to pleadge gold to IMF for a loan. I still remember, the exchange rate of US Dollars was in the range of INR 20 per dollar and we used to fill motorcycle tank at Rs 20 per litre and 1 gram of 22 carat gold was in the range of 200~250 INR. The early nineties was the time, when talk of globalization started and India started opening up its market. The telecommunication started picking up, the snail mail OR postal mail gave way to Fax mode of instant communication.

If one looks at the chart, the gold prices in US Dollars from 1985 till about 2002, it was relatively stable. It had been in the range of 200 US Dollars to 400 US Dollars per ounce (10 to 14 USD per gram). This had been the period when US Dollars was considered precious, every country wanted to boast its foriegn reserve currency in USD and interestingly this also made US Dollars to claim high which kept gold rate in check. In the period of 1990 to year 2002, USD had appreciated almost 2.5 times, from about 18 INR in 1990 to about 48 INR per dollar in 2002.

Following period of 2002 to till date US Dollars has been losing stream and more or less a cooling off period for USD. Again, this is when the other heavy weight commodity like gold started gathering stream and winning the price war against USD. Its was about 10~14 USD per gram even in 2000, now its has claimed to be at all time high of about 40~42 US dollars per gram.

For a common man in India, he does not invest in US Dollars, so he is not really bothered about US Dollars flactuation but he does invest in gold and real estate. Question in any Indian mind is will gold prices reduce or stabilize in near future? looking at the trend it does not look so, with the world reserve currency - US Dollars seems to have lost out the race. Not only individuals, but even country governments consider gold as the safe bet, now. So till a time, there is an alternative to gold, where money can be parked as reserve currency, the "Gold" should be winning, the price war.

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Inspiring story of self made entreprenuer.....

Saturday, September 18, 2010

Read this on Rediff, simple and straight. Its all about taking up the challenges or stumbling blocks into stepping stone towards the goal.

Inspiring story of a self made entreprenuer

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Smart mobile phone...A look into the future.

Thursday, September 2, 2010

Clearly this device cannot be described through text blogging. The feature I wish my smart phone had !, not just one feature but it has many....

Presenting to you, the future technology smart phone (click on link) . For best results, have your microphone handy.

When I found this phone in the net, I was amazed by its features and wanted to look at the manufacturer who has made it possible, however, to my surprise I found it to be an advertisement strategy.

Nevertheless, its worth the effort by the place Navo scotia, Canada. A great concept selling by Navo Scotia... I saw the wonderful phone presentation, which took me into the future, which was beyond imagination and looking for the day when such phone becomes a reality, well looking also for a day when I can visit Navo Scotia, Canada too.

Truly Amazing...Good luck Navo Scotia, Canada.

Maybe, as indicated by Navo Scotia, one day in the future this might become a reality. I am sure many design specialist of phone manufacturers would have been thought provoked by this phone.

Once this kind of phones becomes a reality, there is no language barrier for me towards travelling across the globe with language constraint, I would be carrying language translator with me and making presentation without looking for a projector. Interesting, shaver, harmonia & coffee brewing is possible.

I still remember the late 90's when mobile phone where introduced, only calling was its feature. Slowly camera, radio FM were added and then came internet browsing & emailing, GPS. Hmmm..., would like to see the next generation phone with language translator, projector, shaver, coffee brewer and harmonia... May be to this list of features, wish to add feature such as a car remote key or door remote key, all that is needed is the electronic lock circuit should identifiy the PIN or passcode sent by mobile phone and the mobile number itself and when both matches with lock preset values, then the lock would open, this means, one can open the door from anywhere across the globe and allow his or her house to be accessible to his relatives and friends.... interesting is in't?.......... and wait, why not it be linked up as an identity tag?.... instead of wearing a corporate identity tag as a garland around the neck.

All these might be classified as wants for a person like me now, however once manufacturers introduces these unique features, they will certainly turn out to be a need for a mobile phone user.

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