Have you ever been to bank on the last day of any quarter? You might have found that banks are not working to there fullest potential, clearance, withdrawal of big amounts and other processing either closed or very slow, The reason that is stated is “Quaterly Closing” and no transaction can be made.
I believe banking is a life time service and when i say life time it cannot be time bound. It has to be available 27X7X365 there should be limited holiday’s and offs, banks are as important as Emergency services. Probably this the bankers might have thought of and “ATM” might be an outcome of this.
Similarly for Share trading also there is a constraint of timings, the bourses trade between 9.55am to 3.30pm. But matters of fact, persons who are salaried/ businessman who knows/ understands the concept are not able to participate in the trading because they are engaged with his own assignments.
If the market is open 27X7X365 there might be a lot of participation from the retail investors. Working class people will be hooked to there terminals after reaching home and finishing off with there household chores, housewife’s can participate while watching there television soaps and what not can happen if there is an extension in timings. Foreign investment will increase as it will be easy for them to track the market at there timings.
Recently there was an announcement of extended timings but because the entire machinery of banking, clearance and clearing houses were not in sink with the extended timings the decision was rolled back. I feel that in this competitive world we need to work more and harder to increase the productivity. To progress and excel we need to multiply our efforts and commitments and we should come out of the “9 to 5” mentality.
That’s a well accepted fact that there will be an additional load on the entire machinery of banking, clearance clearing and broking houses but that is what they are meant for, they are getting a handsome commission from the transaction and its a service that they are offering and they cannot offer a “denial of services”.
No matter it’s a festival or any big event hospitals, emergency services are open 27X7X365 so why can’t India work in 27X7X365 mode. Services has to be at convenience of the customer and not at the convenience of the Service provider. Time demands that we should come of the barriers of timings and holidays and work beyond our limits and redefine our exisiting limits.
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