Cyber Cell Account Freezes are killing MSMEs and Micro Companies

 

Cyber Cell Account Freezes are killing MSMEs and Micro Companies

In recent times, Micro, Small, and Medium Enterprises (MSMEs) and micro companies in India have been grappling with an unexpected and severe challenge: the freezing of their business accounts by the Cyber Cell. This phenomenon has caused widespread disruption, affecting the livelihoods of countless small vendors and companies.

A visit to any bank today will reveal the gravity of the situation. Small business owners and vendors are seen struggling to get their accounts operational, only to find their funds blocked. This predicament arises from the Cyber Cell's decision to freeze accounts based on complaints, often without prior investigation or providing an option for response.

Speaking to several banks such as State Bank of India (SBI), HDFC, and ICICI, it was revealed that they receive 10-13 complaints daily regarding account freezes. Banks are often left in the dark, unable to share details with the affected companies as the freezing decisions are made by the Cyber Cell, sometimes from remote corners of the country. This lack of communication only adds to the frustration and helplessness experienced by these businesses.

For instance, a street food vendor who has been in business and holding the same account for ten years found his account frozen without any clear reason. Repeated attempts to contact the Cyber Cell yielded no results, leaving him stranded. Similarly, another case involved a travel agent whose account was frozen following a customer complaint regarding their stay at a hotel.

Through discussions with other business owners, it became apparent that the Cyber Cell does not differentiate between disputes arising from customer complaints and those involving payment fraud. The result is a blanket approach where accounts are frozen indiscriminately. This raises critical questions about the relevance of the Consumer Forum and the role of the Reserve Bank of India (RBI) in such matters.

The right to put a hold on accounts without prior investigation is perceived as a violation of fundamental business rights. It undermines the principles of fair banking and business operations. Many have termed this as "Cyber Cell terrorism," reflecting the fear and uncertainty gripping the business community.

Legal professionals have also noted a surge in cases related to account freezes, indicating a growing concern among businesses. The need for a transparent and fair process is more urgent than ever. It is essential for the authorities to address these grievances, ensure proper investigation before account freezes, and provide a clear communication channel for affected businesses.

In conclusion, while the intention behind Cyber Cell's actions may be to curb fraudulent activities, the current approach is causing undue harm to legitimate businesses. A balanced and fair process must be established to protect the interests of both consumers and businesses, ensuring a thriving and secure economic environment.

Why Akshay Kumar's Films are Flopping?

In recent times, Bollywood superstar Akshay Kumar has faced a rough patch, with several of his films underperforming at the box office. Fans and critics alike have been quick to point fingers, often attributing these flops to a perceived decline in his acting prowess. However, a closer look reveals a different story: it's not Akshay Kumar's acting that's the problem—it's the direction.

The Real Story Behind the Flops

Take the example of "Bade Miyan Chote Miyan". The film, featuring Akshay Kumar and Tiger Shroff, had a lot going for it. The plot was interesting, the cast was stellar, and the action sequences were high-octane. But despite all these ingredients, the film failed to impress the audience. The reason? Poor direction.

Good Story, Bad Direction

"Bade Miyan Chote Miyan" had the potential to be a blockbuster. The story was engaging, filled with action and humor. But the direction fell short. The film lacked coherence, the pace was inconsistent, and the overall execution was subpar. This pattern is not unique to just one film; several other projects starring Akshay have suffered the same fate. For instance, films like "Raksha Bandhan" and "Samrat Prithviraj" also had promising premises but were let down by poor direction.

Akshay Kumar's Acting: Still Top-Notch

It's important to note that Akshay Kumar's acting skills remain sharp. He continues to deliver powerful performances, showing versatility across different genres. His comic timing, action sequences, and emotional depth are as compelling as ever. The problem lies in how these performances are framed and brought to life on screen.

The Role of the Director

A film's success heavily relies on the director's vision and execution. Even the best actors can only do so much if the direction is lacking. Directors are responsible for bringing out the best in their cast, ensuring the story flows smoothly, and maintaining audience engagement. When these elements falter, it results in a disjointed film, regardless of the actors' performances.

Moving Forward

For Akshay Kumar, the key to breaking this streak of flops lies not in changing his acting style but in collaborating with directors who can truly capture his talent on screen. By focusing on projects with strong direction, he can regain his place at the top of the box office. Likewise, the industry should recognize the importance of pairing talented actors with capable directors to create films that resonate with audiences.