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.

Can we Fight the Animals.........???

I had gone to local Vegetable market and was walking back to my home which is in one of the area in South Delhi. I had covered some distance and was mid way to my home when suddenly i heard a Scream of a small Kid. At first i did not realize and then suddenly there was continuous scream and then i realized that some kid is in trouble. I started looking and on the other side of the Road i saw 2 kids one was surrounded by 4 - 5 street Dogs, approaching him dangerously. I was startled and was looking to go near the kids to save the kids from being bitten by the Dogs. I knew it would take me some time to reach the kids and i would have to be very quick to save them. Suddenly i heard few voices shouting and shoving the dogs, it was 3 - 4 ladies who had also heard the scream passing by and were on the same side. They had come back hearing the scream to help the kids. To my relief they had chased the dogs away and the kids were safe and had entered there colony gates. Those ladies did not seem to be very educated or financially from very good families as i could make out from their dresses and appearance. They looked like to be maids or odd job workers from the neighborhood. I was filled with appreciation and respect for them.

Ironically i had witnessed a very different incident before reaching the vegetable market. I had just reached my colony's gate and crossing the gate when i suddenly realized that a vehicle (Inova) was approaching with lot of speed. Before i could understand anything it came to screeching halt in front of an auto few paces away from the gate and me. Stunned and astonished as to why the person was driving so fast on the crowded service road near the colony. It had almost hit the auto which was loaded with passenger and the mishap could have led to many causalities. In between before i could collect all my thoughts the driver of the Innova Car had got out abusing and to everyone's amazement slapped and kicked the auto driver. I was anguished and angered. I approached towards the Car driver so did the Security guards from my colony but by the time the Car driver had come back to his car and seeded away. Even the auto driver and the passengers inside could not react properly.    

I was disturbed because of the incident in the evening and it was going through my mind again and again and deep in my heart i wanted to slap that Car driver. When i encountered the other incident was automatically driven in the thoughts of how easy it is to fight the animal? The animals on the street bit easy but the animal inside the Human mind and heart? I don't know. Are people strong enough to fight with human animal? If we all had the courage then no "Nirbhay" would have suffered. The Five year old Kid would have been found before the Torture she went through. It is not that Human Animals don't win or can be tamed all through but even they would have know fear. They would have known there are People who can fight them. Many battles would had been won and many would not have suffered as they have just because of our cowardliness.
     

Too much of social media, is the personal realtionships up for Sales?

With so many social sites up, is it not that we are moving away from the personal relationships, is it not that the time we are spending trying to be updated on social sites could have been used to share moments on phone or personal meeting. How different it is to hear the voice and meet in person than typing electronic words? Sudheer mentioned that Social Networking is already at sales, but is that they are selling or is it an illusion to the personal relations being on sale??