NEFT is not free anymore...

For internet savvy middle class families NEFT serves as the fastest way to transfer funds across bank accounts and it is cheaper too ( or should I say it was free till May 10th 2009)
NEFT a.k.a National Electronic Fund Transfer is a facility provided by R.B.I to transfer funds across Indian banks electronically.

Starting May 10th,2009 RBI has removed the waiver on processing charges for NEFT, so the charges would now be forwarded to the bank customers at the upper cap of Rs 5/- per transaction. Including the Service Tax and Educational Cess this should come on to Rs 5.52/- per transactions.

I wonder RBI never makes this dependent on the amount we transfer each time.

-Abhishek

Zeroes never add up....

Since my childhood we have always read that any number when divided by zero is undefined...I still remember the day when I first met this "verdict" by our teachers...why this privilege only to zero??...If we have function y=1/x...when 'x' approaches zero then the plot of 'y' reaches infinity...
the simple reason behind this never came into my mind until I read "Fermat's last theorem".... Simon Singh has really shown it as the simplest ever proof in this book...

when we say 18/2 = 9 .... we implicitly say that 2 went into 18 nine times and hence the result...but when we have to find out 18/0...nobody can tell us how many times 0 went inside 18...and hence "undefined" ...simple huh!!

Another elaborate article on Wikipedia


-Abhishek