Time for the Black Swans?
Indian banking industry is teetering on the verge due to NPAs, Scams, Illegal SWIFT transsctions, Data breaches and more stuff yet to surface.
The frequency of bad news of late may be because of the fast approaching financial year closure (not to mention the RBI amendments on disclosing un/undercollatetalised loans...).
Telecom industry also doing its part with network delays that leave online banking experience in limbo (that OTP you need to confirm an onlie transaction never arrives in time, of late!).
Aircel? Well, for those 10s of crores of its customers, mostly senior citizens...'bad luck' is all TRAI seems to be telling them, by remaining silent so far.
All these happenings reminds me of Nassim Taleb and his Black Swans; those seemingly impossible, rare events that appear all of a sudden to convince us that such creatures do exist! Maybe we are very very close to spotting some !
What if banking and telecom experience 'trouble' simultaneously ? Are we (as a nation amd as an individual) prepared to handle it ?
Intuition says, 'Tighten your seat belt, wear your crash jacket and... Watch out!'
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