Preventing bank scams…
Dear friends, a simplistic solution to prevent any kind of scams in banks and Government!
All banking related scams can be stopped in one go! A simple piece of software can link core banking software of all banks to one database to be monitored by RBI.... all transactions should be authenticated by every bank official by Aadhaar fingerprint authentication.... a business intelligence system layer overlaid on this software can throw up data, if limit alerts (limits of lending or issuing LOCs etc.) per bank official is inbuilt. There should not be any transaction in any bank that should not be trackable......lock chain technology will be useful here... use of big data analytics can throw up bigger alerts, before somebody can get away with fooling the system.... of course, we may need a supercomputer server to serve this particular requirement......
I believe that only IT and good leadership can provide scam free administration.... the IIT (Integrity, Innovation, Technology) of transformational leadership can change our country.... and at all levels we can see it is difficult to get leaders with the above three qualities in one person.... Poompuhar is probably one of the best examples where every aspect of governance is online....it is difficult to beat this system, unless the
top brass collaborates and conspire.... perhaps it is time Government adopted block chain technology for all transactions in Government as the backbone technology...