General Trading Chat

[BearsTruth]

Regarding PSU Banks focus on technology .....

Aisa nahi hai bhai .......

In todays time technology in banking has become like a commodity ... every tom dic & harry (banks) have technology products ....

In 90ies ICICI Bank boasted about 500+ ATMs and Internet Banking ....

Today all banks have ATM / Internet Banking / Mobile banking /Digital Banking etc etc etc .....

Even the Regional Rural Banks are now on Core Banking .....

THE ONLY NEW thing in KOTAK announcement and your DBS is .... instant account opening digitally thru a mobile app ....

apart from this there is nothing in banking technology which PSU bank like SBI is not having ...... SBI's Internet Banking already had feature ... since way back in 2007 ... Virtual Credit Card ..... but their most customers use SBI's Mastercard or Visacard because ..... as you have mentioned ..... Virtual Card donot work everywhere like Mastercard or Visa ...... and for that matter even the Rupay Card dont work everywhere .....

My point is that in banking industry the perceptionof PSB going kingfisher way due to lack of technology is .... MISPLACED ....

Anyway today technology in banking has become like a commodity ...... any organisation (Banks) can pay and hire a IT company from the market and get the required technology .......

After All ...... Private / Foreign do not have got PATENT on technology products ....:lol:

I recco you read a bit about what blockchain technology going to do the banking industry. Dumb PSU banks have not even heart about it while ICICI is studying the technology. They are so well-informed.

So it is not about have a quality app etc. PSU banks are pretty much laggards on all fronts. Cut throat competition is coming, new upcoming technology going to change the banking industry completely but bureaucratic slow functioning PSU banks are not at all aware of it.

Just giving you an example: Few years ago SBI did a tie-up with Paypal. Arundhati Roy was himself present. But till today no SBI card works with Paypal and when you ask their dumb kamchor employees about Paypal they give a look as if you are asking about porn.

 

[BearsTruth]

arre bhai bearstruth kidher ho !!!!!!!!

Idar he hu bhai sab. Thodi charts or admin position par bhi nazar rakhni padti hai.

 

[BearsTruth]

For those who have not heard about blockchain and its impact on the banking industry. Read this one. There is tremendous material out there on Google https://letstalkpayments.com/an-overview-of-blockchain-technology/

 

[cinderblock]

This is the case of Old and Aged Staff .....

I see that (in general) ... the new and young staff (joined not many years back) ... have different attitude .... yes .. but there are exceptions ... everywhere ..

Actually, I quite like the Old and Aged Staff. They know everything that I want from a bank and not more. The young hassle me about MF and Insurance and new tech and what not.

I just ask them one question "Do you know the primary reason I am a SBI customer?"

 

[manoj2012]

I recco you read a bit about what blockchain technology going to do the banking industry. Dumb PSU banks have not even heart about it while ICICI is studying the technology. They are so well-informed.

So it is not about have a quality app etc. PSU banks are pretty much laggards on all fronts. Cut throat competition is coming, new upcoming technology going to change the banking industry completely but bureaucratic slow functioning PSU banks are not at all aware of it.

Just giving you an example: Few years ago SBI did a tie-up with Paypal. Arundhati Roy was himself present. But till today no SBI card works with Paypal and when you ask their dumb kamchor employees about Paypal they give a look as if you are asking about porn.

For those who have not heard about blockchain and its impact on the banking industry. Read this one. There is tremendous material out there on Google https://letstalkpayments.com/an-overview-of-blockchain-technology/

One thing I will agree ....

Private Bank absorb new technology faster .....

But after a small lag .... PSU banks catch up ....

So ... whatever technological edge private players will enjoy ... will be short lived ....

 

[BearsTruth]

One thing I will agree ....

Private Bank absorb new technology faster .....

But after a small lag .... PSU banks catch up ....

So ... whatever technological edge private players will enjoy ... will be short lived ....

Let's agree to disagree. I believe it is not easy to play catch up game once you lose out on important technological advantage and especially when your perception is poor in public eyes. PSU banks have same perception which Air India has. And forget about matching private banks to even survive PSU banks will have to do mergers which will further increase the bloat.

 

[john302928]

Anyone here track havells ? Caught two rupees of the upmove intraday. Thinking of picking up 100 share for long term holding. It's looking like a great buy after breakout from long term consolidation.

Here is my 2 cents-> Havells have formed 5 wave impulsive moves from nov 2016 and currently we are in 5th wave and that also is about to end. May be few points upside left. after that it will either consolidate or correct for few weeks. Only then you can decide based on the type of pattern formation during that phase. This is just my view based on EW.

 

[traderniftybull]

IMO

We are unnecessarily discussing a non topic
PSB vs Pvt banks

 

[timepass]

Not a non-topic.

IMO, the PSU banks are far more overloaded than pvt. banks.

 

[manoj2012]

Here is my 2 cents-> Havells have formed 5 wave impulsive moves from nov 2016 and currently we are in 5th wave and that also is about to end. May be few points upside left. after that it will either consolidate or correct for few weeks. Only then you can decide based on the type of pattern formation during that phase. This is just my view based on EW.

Hi John,

what is your view on Jet Airways and Ashiana Housing .