Prominent citizens issue legal notices to UIDAI and Planning Commission over Aadhaar

'Aadhaar' is a government scheme and has the potential to be the biggest scandal ever that would dwarf all other such swindles that have become public knowledge thus far

Some Bengaluru-based prominent citizens has issued legal notices to the Unique Identification Authority of India (UIDAI) and the Planning Commission questioning their illegal activities in implementing the UID project, or Aadhaar, without any legal authority to do so. 

In a statement, VK Somasekhar, founder trustee of Grahak Shakti and Col (Ret.) Thomas Mathew of  Citizens' Action Forum said, "While, politicians of all hues have waxed eloquent on the supremacy of parliamentary procedures in the Lokpal Bill matter, here is a government-sponsored project that is merrily squandering public funds, circumventing Parliament. It is astonishing to see many politicians taking every possible photo-op to have their images splashed in the media, seeking publicity for themselves, by association with this illegal project."

"We believe that Aadhaar is a government scheme which has the potential to be the biggest scandal ever that would dwarf all other such swindles that have become public knowledge thus far. The total cost of the project, variously estimated to be between Rs1.5 lakh crore to Rs15 lakh crore, has been kept under wraps. Neither the Indian government nor the UIDAI would give any figures of cost, except to say that other estimates are exaggerations," the release said.

Already, many voices have been raised against the forceful implementation of the UID project, with most objections focused on concerns over privacy. Moreover, there are issues over the legality of Aadhaar itself. The National Identification Authority of India (NIA) Bill is still pending before Parliament. It seeks to constitute a statutory authority and lay down its powers and functions, besides deciding the framework to issue the UID or Aadhaar numbers. Yet, the Indian government and the UID Authority of India (UIDAI) has gone about implementing the scheme and issuing Aadhaar numbers without any constitutional validity as yet.
According to an expert, the government is the executive not empowered by the Constitution to implement projects spending public money without legislative sanction. "In the case of UIDAI, while the executive may appoint anyone to head it, the government is legally constrained from implementing the project and issuing Aadhaar numbers," the expert said.

The NIA Bill is under the consideration of the Parliament Standing Committee on Finance, headed by former finance minister Yashwant Sinha and has members from across the political spectrum.

Mr Somasekhar and Mr Thomas said, "While we are questioning only the legality of the actions taken and being carried out by the above parties, there are other serious aspects to this project. Couched as a pro-poor and anti-corruption scheme, it is in reality, a project that would transfer unimaginably large sums of people's money to private coffers. Simultaneously, it would intrude on people's lives in ways hitherto inconceivable. It is an all-encompassing instrument of state surveillance on people."

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5 years ago

Dear ALL,

If UID Process has to be stopped it has to be now !! Because after this process all will be at the mercy of the "Technology". That is point of no return. It will be " TOTAL SURRENDER FOREVER".

We must explore potential use against citizens and see the complete picture.

They will be more clearly exposed if one analyses full depth of technologies involved.

Reported Evidences show that Governments have attempted to develop such captive weapons and surveillance technology.

There are cases reported which show that these technologies are being experimented on Human Beings Non-Consensually all around the WORLD.

It won’t be surprising if these technologies will be applied universally to all populations via Biometric Databases available with the government.

Know More about Raytheon projects and Patents (BIG BROTHER TYPE)

Surveillance program The Complete Picture

NSA contracts with Raytheon to launch internet surveillance program
Key Excerpts from Article on Website of Wall Street Journal

U.S. Plans Cyber Shield for Utilities, Companies
Wall Street Journal, July 8, 2010
Posted: 2010-07-12 10:52:28
Some industry and government officials familiar with the program see Perfect Citizen as an intrusion by the NSA into domestic affairs. One internal Raytheon email, the text of which was seen by The Wall Street Journal [said,] "Perfect Citizen is Big Brother." Raytheon declined to comment on this email.

Orwellian Scenario: Bringing the War Home, Preparing the Domestic Battlespace
LA County Jail to Field-Test Raytheon Pain Ray

by Tom Burghardt
…..How much easier will it be for police to abuse prisoners when they have at their disposal technologies that won't even leave a mark? As LA County Sheriff's Commander Osborne blandly remarked "there's nothing to clean up."…………..
The Tehran Times-- The policeman in your head By Hamid Golpira Many people believe the global police state taking shape will have policemen, soldiers, and other security personnel on every corner, constantly monitoring our movements and checking our ID cards, but that won’t happen because the policeman will be in your head. http://www.tehrantimes.com/index_View.as...
The NSA & Synthetic Telepathy:
WE Have No Secrets (Anymore)
………….. Recent revelations of illegal NSA surveillance activities are no surprise to a growing number of people whose lives have been disrupted and destroyed by the high-tech CoIntelPro(13) styled efforts of America's intelligence communities.
Excerpt: Carole Smith, PhD: On the Need for New Criteria of Diagnosis of Psychosis in the Light of Mind Invasive Technology (2b)
Some patents, now owned by Raytheon, describe how to make “nuclear sized explosions without radiation” and describe power beam systems, electromagnetic pulses and over-the-horizon detection systems. A more disturbing use is the system developed for manipulating and disturbing the human mental process using pulsed radio frequency radiation (RFR), and their use as a device for causing negative effects on human health and thinking. The victim, the innocent civilian target is locked on to, and unable to evade the menace by moving around. The beam is administered from space. The Haarp (2c) facility as military technology could be used to broadcast global mind-control, as a system for manipulating and disturbing the human mental process using pulsed radio frequency (RFR). ……….
Millimeter Waves and Mind Control
Alan Yu 3-97 News Post
From: AlanYu [email protected]
Newsgroups: alt.mindcontrol
Subject: Freedom of privacy & thoughts
Date: Sat, 22 Mar 1997

Dear Readers,
I have stated that there is nothing can hide in the mind control surveillance system because these operators are using the state of art remote watching technology. Now, I found more information to prove what I have stated is correct. I would show readers such kind of information below:
(attachment)--"New Scientist", Nov. 5, 1995 supplement ( London , UK )
No Where to Hide
If you want to see the future of surveillance, take a trip into the world of millimetre waves and the video cameras that are sensitive to them. People are stripped of their clothes and become featureless, luminous humanoids. Silhouetted against their bodies and suspended as if by magic, hang coins, buckles, pens and keys. Cars are dark and sinister, although their hot radiator grills are bright. Only the steel in reinforced concrete shows up, so buildings look more like cages of copper pipes and electricity cables than homes and offices. There is little privacy in the world revealed by the millimetre-wave camera. Sitting rooms, bedrooms, bathrooms and lavatories all merge into one open space. People sit in their cages watching warm boxes, others sleep while suspended a few centimetres above the floor. …………………

Brain Wave Monitors / Analysers
Lawrence Pinneo, a neurophysiologist and electronic engineer working for Stanford Research Institute (a military contractor) is the first known" pioneer in this field.In 1974 he developed a computer system which correlated brain waves on an electroencephalograph with specific commands. In the early 1990s, Dr Edward Taub reported that words could be communicated onto a screen using the thought-activated movements of a computer cursor. (Currently under secrecy provisions; "Classified") In 1994, the brain wave patterns of 40 subjects were officially correlated with both spoken words and silent thought. This was achieved by a neurophysiologist, Dr Donald York, and a speech pathologist, Dr Thomas Jensen, from the University of Missouri . They clearly identified 27 words / syllables in specific brain wave patterns and produced a computer program with a brain wave vocabulary.
It does not take much thinking to realise that the US agencies have access to a perfected version of this technology. In fact the relevant computers have a vocabulary in excess of 60,000 words and cover most languages. In fact, the NSA's signals intelligence monitor the brainwaves of their targets by satellite and decode the evoked potentials (3.50Hz 5 milliwatts) that the brain emits. So, using lasers / satellites and high-powered computers the agencies have now gained the ability to decipher human thoughts - and from a considerable distance (instantaneously).
How is it done?
The magnetic field around the head, the brain waves of an individual can be monitored by satellite. The transmitter is therefore the brain itself just as body heat is used for "Iris" satellite tracking (infrared) or mobile phones or bugs can be tracked as "transmitters". In the case of brain wave monitoring the results are then fed back to the relevant computers. Monitors then use the information to conduct a "conversation" where audible neurophone input is "applied" to the victim. Human thought operates at 5,000 bits/sec but satellites and various forms of biotelemetry can deliver those thoughts to supercomputers in Maryland, U.S.A, Israel, etc which have a speed of over 300 trillion bits/sec which means just one (Blue Gene) supercomputer can process more information than ten times the entire world's population. These, even today, monitor millions of people simultaneously. Eventually they will monitor almost everyone...worse than any Orwellian "Big Brother" nightmare you could possibly imagine, only it will be a reality. Yet our world leaders, who know this, do nothing. UPDATE (2005) - IBM's Blue Gene computer can reportedly process 227 trillion flops per second. Even if each calculation involved only one 'bit' of information, one such computer could process more information than five times the earth's total population... With supercomputers taking overt brain downloads within 40 years, total computer consciousness looms as an open threat for the future of mankind, just as, secretly, it already torments those victimised as covert targets of high tech brain monitoring technology. Usually the targets are aware their brain waves are being monitored because of the accompanying neurophone feedback. In other words, the computer repeats (echoes) your own thoughts and then the human monitors comment or respond verbally. Both are facilitated by the neurophone.
NB Whilst the live/human comments are individualistic and unrelated to the victims own thought processes oftentimes the artificial intelligence involved will parrot standard phrases. These are triggered by your thoughts while the human monitors remain silent or absent.To comprehend how terrible such a thorough invasion of privacy can be - imagine being quizzed on your past as you lie in bed. You eventually fall off to sleep, having personal or "induced" dreams, only to wake to the monitors commenting / ridiculing your subconscious thoughts (dreams).
If the ability to "brain scan" individuals expands from the million or so currently under scrutiny to include ALL inhabitants of the planet (as per the Echelon surveillance system which already monitors ALL private/commercial telecommunications) then no-one will ever be able to even think about expressing an opinion contrary to those forced on us by the New World Order. There will literally be no intellectual property that cannot be stolen, no writing that cannot be censored, no thought that cannot be suppressed (by the most oppressive/invasive means).

Reported Evidences that Governments have attempted to develop such captive weapons and surveillance technology. One such court case is by John St. Clair Akwei is a former National Security Agency employee and whistle-blower who exposed the use of neural monitoring to spy on individuals. The Signals Intelligence mission of the NSA has evolved into a program of decoding EMF waves in the environment for wirelessly tapping into computers and tracking persons with the electrical currents in their bodies.


Is the NSA Conducting Electronic Warfare On Americans? http://www.exposingalltruth.com/

WASHINGTONPOST Cover Story Mind Games
“…………The documents are an authentic-looking mix of news stories, articles culled from military journals and even some declassified national security documents that do seem to show that the U.S. government has attempted to develop weapons that send voices into people's heads…………” Cover Story Mind Games By Sharon Weinberger
Sunday, January 14, 2007 http://www.washingtonpost.com/wp-dyn/con...

The Institute of Science in Society- Bio-electromagnetic Weapons- A weapon system that operates at the speed of light, that can kill, torture, enslave and escape detection. Harlan Girard http://www.i-sis.org.uk/BW.php

The Tehran Times - Mind War 4 Hamid Golpira-- Everyone is worried about World War III breaking out but almost no one has noticed that we’re in the middle of Mind War 4. Actually, the mind wars are so clandestine that we may be in the middle of Mind War 40 for all we know. The matrix is real. The Mind War has entrapped the minds of most of humanity, and most people live in a fantasy world totally disconnected from reality. Fortunately, a liberation movement has arisen, the freethinking resistance, which is trying to help people free their minds. http://www.tehrantimes.com/Index_view.as...

The Tehran Times-- The policeman in your head - Hamid Golpira Many people believe the global police state taking shape will have policemen, soldiers, and other security personnel on every corner, constantly monitoring our movements and checking our ID cards, but that won’t happen because the policeman will be in your head. http://www.tehrantimes.com/index_View.as...
The Kassandra Project: freedom against disinformation
Government Thought Policing: The NSA and Remote Neural Monitoring (RNM) April 12, 2008 http://kassandraproject.wordpress.com/20...
“…….. The following information was evidence provided in a civil suit against the federal government in the case Akwei v. NSA (92-0449). John St. Clair Akwei is a former National Security Agency employee and whistle-blower who exposed the use of neural monitoring to spy on individuals. The Signals Intelligence mission of the NSA has evolved into a program of decoding EMF waves in the environment for wirelessly tapping into computers and tracking persons with the electrical currents in their bodies……” How The National Security Agency (NSA) Illegally And Unconstitutionally Harasses Law-Abiding Americans Everyday. How, you ask? Quite simply, actually. It’s done by EMF or ELF Radio Waves, and a technology known as “Remote Neural Monitoring”. Haven’t you ever wondered about that ringing in your left ear? Well, here are the reason(s). And just why should the NSA do this, you ask? To silence any who who dare to speak out against them or any other agency, or the Government or simply to think for themselves, and “outside the box”, if you will. Think not? Then, read on………. 92 Replies






http://www.greatdreams.com/RNM.htm http://www.freedomfchs.com/remoteneuralm...







MIND JUSTICE http://www.mindjustice.org/



THE AMERICAN COGNITIVE LIBERTIES ASSOCIATION http://americancognitivelibertiesassoc.o...

SURVEILLANCE ISSUES http://www.surveillanceissues.com




Raytheon looks to enter Indian defence market
The company is vying for a pie of India ’s potential $80 billion defence market in the next ten years
……………There had been some media reports that said that Raytheon had shared some classified data regarding these programs with the Indian government. Can you confirm or deny those reports?
We cannot comment on that. ……………….

Some of the Patents with Raytheon & IBM for surveillance program.
US PATENT 6,011,991--COMMUNICATION SYSTEM AND METHOD INCLUDING BRAIN WAVE ANALYSIS AND/OR USE OF BRAIN ACTIVITY--A system and method for enabling human beings to communicate by way of their monitored brain activity. The brain activity of an individual is monitored and transmitted to a remote location (e.g. by satellite). At the remote location, the monitored brain activity is compared with pre-recorded normalized brain activity curves, waveforms, or patterns to determine if a match or substantial match is found. If such a match is found, then the computer at the remote location determines that the individual was attempting to communicate the word, phrase, or thought corresponding to the matched stored normalized signal.

US PATENT -3,727,616-ELECTRONIC SYSTEM FOR STIMULATION OF BIOLOGICAL SYSTEMS. --- A receiver totally implanted within a living body is inductively coupled by two associated receiving coils to a physically unattached external transmitter which transmits two signals of different frequencies to the receiver via two associated transmitting coils. One of the signals from the transmitter provides the implanted receiver with precise control or stimulating signals which are demodulated and processed in a signal processor network in the receiver and then used by the body for stimulation of a nerve, for example, while the other signal provides the receiver with a continuous wave power signal which is rectified in the receiver to provide a source of electrical operating power for the receiver circuitry without need for an implanted battery.

US PATENT 4,893,815—INTERACTIVE TRANSECTOR DEVICE COMMERCIAL AND MILITARY GRADE-- . A transector system for tracking and neutralizing a designated target body, including: sensing means for sensing signals associated with any body within the range of the system and producing an output signal characteristic of that body; central computer means including signal processing means coupled to said sensing means and responsive to said output signal to digitize and store the same; said computer means including, in addition, repertoire storage means and comparator means; said repertoire storage means having stored therein digitized signals representing the signals emanating from the target body; said comparator means being coupled to said sensing means and to said repertoire storage means for comparing output signals from said sensing means with said stored digitized signals in said repertoire storage means and for producing a lock-on output signal when said output signal from said sensing means corresponds to said digitized signal representing said target body; said signal processing means including means to determine the range, azimuth and elevation of each body, the signals from which are being sensed, and, in particular, producing a digital location signal representative of the location of the target body when the lock-on signal occurs; projectile means including a projectile computer, said projectile computer having projectile signal-processing means and volatile storage means therein;said volatile storage means being coupled, before launch of said projectile, to said signal processing means for updating said projectile computer with the latest digitized target body location signal; said projectile computer including an expert program for controlling said projectile signal-processing means and for controlling the flight of said projectile.

US PATENT 3,951,134 - APPARATUS AND METHOD FOR REMOTELY MONITORING AND ALTERING BRAIN WAVES--Apparatus for and method of sensing brain waves at a position remote from a subject whereby electromagnetic signals of different frequencies are simultaneously transmitted to the brain of the subject in which the signals interfere with one another to yield a waveform which is modulated by the subject's brain waves. The interference waveform which is representative of the brain wave activity is re-transmitted by the brain to a receiver where it is demodulated and amplified. The demodulated waveform is then displayed for visual viewing and routed to a computer for further processing and analysis. The demodulated waveform also can be used to produce a compensating signal which is transmitted back to the brain to effect a desired change in electrical activity therein.

US PATENT- US5629678 -IMPLANTABLE TRANSCEIVER-Apparatus for Tracking And Recovering Humans.

US PATENT --4,717,343 --METHOD OF CHANGING A PERSON'S BEHAVIOR--A method of conditioning a person's unconscious mind in order to effect a desired change in the person's behavior which does not require the services of a trained therapist. Instead the person to be treated views a program of video pictures appearing on a screen. The program as viewed by the person's unconscious mind acts to condition the person's thought patterns in a manner which alters that person's behavior in a positive way. SOURCE: Judy Wall, Mike Coyle and Jan Wiesemann. Paranoia Magazine Issue 24 Fall 2000 -Article -'Technology to Your Mind' - By Judy Wall

US PATENT -- 4,877,027 -- HEARING SYSTEM -- Sound is induced in the head of a person by radiating the head with microwaves in the range of 100 megahertz to 10,000 megahertz that are modulated with a particular waveform. The waveform consists of frequency modulated bursts. Each burst is made up of ten to twenty uniformly spaced pulses grouped tightly together. The
burst width is between 500 nanoseconds and 100 microseconds. The pulse width is in the range of 10 nanoseconds to 1 microsecond. The bursts are frequency modulated by the audio input to create the sensation of hearing in the person whose head is irradiated.

US PATENT -- 5,507,291 – METHOD AND ASSOCIATED APPARATUS FOR REMOTELY DETERMINING INFORMATION AS TO PERSON’S EMOTIONAL STATE -- In a method for remotely determining information relating to a person's emotional state, an waveform energy having a predetermined frequency and a predetermined intensity is generated and wirelessly transmitted towards a remotely located subject. Waveform energy emitted from the subject is detected and automatically analyzed to derive information relating to the individual's emotional state. Physiological or physical parameters of blood pressure, pulse rate, pupil size, respiration rate and perspiration level are measured and compared with reference values to provide information utilizable in evaluating interviewee's responses or possibly criminal intent in security sensitive areas.

US Patent 3,393,279. US Patent 3,647,970. -- The Neurophone was developed by Dr Patrick Flanagan in 1958.-- It's a device that converts sound to electrical impulses. In its original form electrodes were placed on the skin but with defence department developments, the signals can be delivered via satellite. They then travel the nervous system directly to the brain (bypassing normal hearing mechanisms). Dr Flanagan's "3D holographic sound system" can place sounds in any location as perceived by the targeted / tortured listener. This allows for a variety of deceptions for gullible victims. A speech waveform is converted to a constant amplitude square wave in which the transitions between the amplitude extremes are spaced so as to carry the speech information. The system includes a pair of tuned amplifier circuits which act as high-pass filters having a 6 decibel per octave slope from 0 to 15,000 cycles followed by two stages, each comprised of an amplifier and clipper circuit, for converting the filtered waveform to a square wave. A radio transmitter and receiver having a plurality of separate channels within a conventional single side band transmitter bandwidth and a system for transmitting secure speech information are also disclosed.

U.S. patent #3,566,347, (23/2/71)
A device/weapon which can actually deafen the target.

US PATENT --5,036,858 – METHOD AND APPARATUS FOR CHANGING BRAIN WAVE FREQUENCY. -- A method for changing brain wave frequency to a desired frequency determines a current brain wave frequency of a user, generates two frequencies with a frequency difference of a magnitude between that of the current actual brain wave frequency and the desired frequency but always within a predetermined range of the current actual brain wave frequency, and produces an output to the user corresponding to the two frequencies. One apparatus to accomplish the method has a computer processor, a computer memory, EEG electrodes along with an amplifier, a programmable timing generator responsive to the computer processor for generating the two frequencies, audio amplifiers and a beat frequency generator driving a visual frequency amplifier.

US PATENT -- 5,213,562 -- METHOD OF INDUCING MENTAL, EMOTIONAL AND PHYSICAL STATES OF CONSCIOUSNESS, INCLUDING SPECIFIC MENTAL ACTIVITY, IN HUMAN BEINGS --A method having applicability in replication of desired consciousness states; in the training of an individual to replicate such a state of consciousness without further audio stimulation; and in the transferring of such states from one human being to another through the imposition of one individual's EEG, superimposed on desired stereo signals, on another individual, by inducement of a binaural beat phenomenon.

US PATENT 5,123,899 --METHOD AND SYSTEM FOR ALTERING CONSCIOUSNESS--A system for altering the states of human consciousness involves the simultaneous application of multiple stimuli, preferable sounds, having differing frequencies and wave forms. The relationship between the frequencies of the several stimuli is exhibited by the equation g=s.sup.n/4 .multidot.f where: f=frequency of one stimulus; g=frequency of the other stimuli of stimulus; and n=a positive or negative integer which is different for each other stimulus. ALSO SEE: US PATENT --5,289,438 --METHOD AND SYSTEM FOR ALTERING CONSCIOUSNESS SOURCE: Judy Wall, Mike Coyle and Jan Wiesemann. Paranoia Magazine Issue 24 Fall 2000 -Article -'Technology to Your Mind' - By Judy Wall

US PATENT -- 5,289,438 – METHOD AND SYSTEM FOR ALTERING CONSCIOUSNESS --A system for altering the states of human consciousness involves the simultaneous application of multiple stimuli, preferable sounds, having differing frequencies and wave forms. The relationship between the frequencies of the several stimuli is exhibited by the equation where: f=frequency of one stimulus; g=frequency of the other stimuli or stimulus; and n=a positive or negative integer which is different for each other stimulus.

US PATENT 5,629,678 - PERSONAL TRACKING AND RECOVERY SYSTEM--Apparatus for tracking and recovering humans utilizes an implantable transceiver incorporating a power supply and actuation system allowing the unit to remain implanted and functional for years without maintenance. The implanted transmitter may be remotely actuated, or actuated by the implantee. Power for the remote-activated receiver is generated electromechanically through the movement of body muscle. The device is small enough to be implanted in a child, facilitating use as a safeguard against kidnapping, and has a transmission range which also makes it suitable for wilderness sporting activities. A novel biological monitoring feature allows the device to be used to facilitate prompt medical dispatch in the event of heart attack or similar medical emergency. A novel sensation-feedback feature allows the implantee to control and actuate the device with certainty.

US PATENT 5,760,692 - INTRA-ORAL TRACKING DEVICE-An intra-oral tracking device adapted for use in association with a tooth having a buccal surface and a lingual surface, the apparatus comprises a tooth mounting member having an inner surface and an outer surface, the inner surface including adhesive material ; a remote transmitter-receiver assembly including means to transmit and receive electronic signals, the transmitter-receiver being affixed to the outer surface of the tooth mounting member, the remote transmitter-receiver assembly positioned adjacent to the buccal surface of the tooth; and a base transmitter-receiver device including means to transmit and receive electronic signals, the device including a transmission button and a display screen, in an operative orientation a user depressing the transmission button of the base transmitter-receiver device to activate the remote transmitter-receiver, activation of the remote transmitter-receiver device causing the transmission of electrical signals for receipt by the base transmitter-receiver device, the base transmitter-receiver device thereby displaying the location of the remote transmitter- receiver assembly to enable a user to locate a lost individual.

US PATENT 6,006,188 - SPEECH SIGNAL PROCESSING FOR DETERMINING PSYCHOLOGICAL OR PHYSIOLOGICAL CHARACTERISTICS USING A KNOWLEDGE BASE --A speech-based system for assessing the psychological, physiological, or other characteristics of a test subject is described. The system includes a knowledge base that stores one or more speech models, where each speech model corresponds to a characteristic of a group of reference subjects. Signal processing circuitry, which may be implemented in hardware, software and/or firmware, compares the test speech parameters of a test subject with the speech models. In one embodiment, each speech model is represented by a statistical time-ordered series of frequency representations of the speech of the reference subjects. The speech model is independent of a priori knowledge of style parameters associated with the voice or speech. The system includes speech parameterization circuitry for generating the test parameters in response to the test subject's speech. This circuitry includes speech acquisition circuitry, which may be located remotely from the knowledge base. The system further includes output circuitry for outputting at least one indicator of a characteristic in response to the comparison performed by the signal processing circuitry. The characteristic may be time-varying, in which case the output circuitry outputs the characteristic in a time-varying manner. The output circuitry also may output a ranking of each output characteristic. In one embodiment, one or more characteristics may indicate the degree of sincerity of the test subject, where the degree of sincerity may vary with time. The system may also be employed
to determine the effectiveness of treatment for a psychological or physiological disorder by comparing psychological or physiological characteristics, respectively, before and after treatment.

US PATENT -- 6,470,214 -- METHOD AND DEVICE FOR IMPLEMENTING THE RADIO FREQUENCY HEARING EFFECT.-- A modulation process with a fully suppressed carrier and input preprocessor filtering to produce an encoded output; for amplitude modulation (AM) and audio speech preprocessor filtering, intelligible subjective sound is produced when the encoded signal is demodulated using the RF Hearing Effect. Suitable forms of carrier suppressed modulation include single sideband (SSB) and carrier suppressed amplitude modulation (CSAM),with both sidebands present.

US PATENT -- 6,488,617 – METHOD AND DEVICE FOR PRODUCING A DESIRED BRAIN STATE.-- A method and device for the production of a desired brain state in an individual contain means for monitoring and analyzing the brain state while a set of one or more magnets produce fields that alter this state. A computational system alters various parameters of the magnetic fields in order to close the gap between the actual and desired brain state. This feedback process operates continuously until the gap is minimized and/or removed.

US PATENT -- 6,506,148 -- NERVOUS SYSTEM MANIPULATION BY ELECTROMAGNETIC FIELDS FROM MONITORS. --Physiological effects have been observed in a human subject in response to stimulation of the skin with weak electromagnetic fields that are pulsed with certain frequencies near 1/2 Hz or 2.4 Hz, such as to excite a sensory resonance. Many computer monitors and TV tubes, when displaying pulsed images, emit pulsed electromagnetic fields of sufficient amplitudes to cause such excitation. It is therefore possible to manipulate the nervous system of a subject by pulsing images displayed on a nearby computer monitor or TV set. For the latter, the image pulsing may be imbedded in the program material, or it may be overlaid by modulating a video stream, either as an RF signal or as a video signal. The image displayed on a computer monitor may be pulsed effectively by a simple computer program. For certain monitors, pulsed electromagnetic fields capable of exciting sensory resonances in nearby subjects may be generated even as the displayed images are pulsed with subliminal intensity.

US PATENT -- 6,754,472 – METHOD AND APPRATUS FOR TRANSMITTING POWER AND DATA USING THE HUMAN BODY.--Methods and apparatus for distributing power and data to devices coupled to the human body are described.The human body is used as a conductive medium, e.g., a bus, over which power and/or data is distributed.Power is distributed by coupling a power source to the human body via a first set of electrodes. One or more devise to be powered, e.g., peripheral devices, are also coupled to the human body via additional sets of electrodes. The devices may be, e.g., a speaker, display, watch, keyboard, etc. A pulsed DC signal or AC signal may be used as the power source. By using multiple power supply signals of differing frequencies, different devices can be selectively powered. Digital data and/or other information signals, e.g., audio signals, can be
modulated on the power signal using frequency and/or amplitude modulation techniques.

US PATENT 6,014,080 - BODY WORN ACTIVE AND PASSIVE TRACKING DEVICE --Tamper resistant body-worn tracking device to be worn by offenders or potential victims for use in a wireless communication system receiving signals from a global positioning system (GPS).

US PATENT 6,017,302 - SUBLIMINAL ACOUSTIC MANIPULATION OF NERVOUS SYSTEMS --In human subjects, sensory resonances can be excited by subliminal atmospheric acoustic pulses that are tuned to the resonance frequency. The 1/2 Hz sensory resonance affects the autonomic nervous system and may cause relaxation, drowsiness, or sexual excitement, depending on the precise acoustic frequency near 1/2 Hz used. The effects of the 2.5 Hz resonance include slowing of certain cortical processes, sleepiness, and disorientation. For these effects to occur, the acoustic intensity must lie in a certain deeply subliminal range. Suitable apparatus consists of a portable battery-powered source of weak subaudio acoustic radiation. The method and apparatus can be used by the general public as an aid to relaxation, sleep, or sexual arousal, and clinically for the control and perhaps treatment of insomnia, tremors, epileptic seizures, and anxiety disorders. There is further application as a nonlethal weapon that can be used in law enforcement standoff situations, for causing drowsiness and disorientation in targeted subjects. It is then preferable to use venting acoustic monopoles in the form of a device that inhales and exhales air with subaudio frequency.

US PATENT 6,051,594 - METHODS AND FORMULATIONS FOR MODULATING THE HUMAN SEXUAL RESPONSE--The invention is directed to improved methods for modulating the human sexual response by orally administering a formulation of the vasodilator phentolamine to the blood circulation and thereby modulating the sexual response on demand.

US PATENT 6,052,336 - APPARATUS AND METHOD OF BROADCASTING AUDIBLE SOUND USING ULTRASONIC SOUND AS A CARRIER--An ultrasonic sound source broadcasts an ultrasonic signal which is amplitude and/or frequency modulated with an information input signal originating from an information input source. If the signals are amplitude modulated, a square root function of the information input signal is produced prior to modulation. The modulated signal, which may be amplified, is then broadcast via a projector unit, whereupon an individual or group of individuals located in the broadcast region detect the audible sound.

US PATENT -- 3,884,218 -- METHOD OF INDUCING AND MAINTAINING VARIOUS STAGES OF SLEEP IN HUMAN BEING --A method of inducing sleep in a human being wherein an audio signal is generated comprising a familiar pleasing repetitive sound modulated by an EEG sleep pattern. The volume of the audio signal is adjusted to overcome the ambient noise and a subject can select a familiar repetitive sound most pleasing to himself.

US PATENT -- 4,335,710 –DEVISE FOR THE INDUCTION OF SPECIFIC BRAIN WAVE PATTERNS --Brain wave patterns associated with relaxed and meditative states in a subject are gradually induced without deleterious chemical or neurological side effects. A white noise generator (11) has the spectral noise density of its output signal modulated in a manner similar to the brain wave patterns by a switching transistor (18) within a spectrum modulator (12). The modulated white noise signal is amplified by output amplifier (13) and converted to an audio signal by acoustic transducer (14). Ramp generator (16) gradually increases the voltage received by and resultant output frequency of voltage controlled oscillator (17) whereby switching transistor (18) periodically shunts the high frequency components of the white noise signal to ground.

US PATENT -- 4,395,600 -- AUDITORY SUBLIMINAL MESSEGE SYSTEM AND METHOD --Ambient audio signals from the customer shopping area within a store are sensed and fed to a signal processing
circuit that produces a control signal which varies with variations in the amplitude of the sensed audio signals. A control circuit adjusts the amplitude of an auditory subliminal anti-shoplifting message to increase with increasing
amplitudes of sensed audio signals and decrease with decreasing amplitudes of sensed audio signals. This amplitude controlled subliminal message may be mixed with background music and transmitted to the shopping area. To reduce distortion of the subliminal message, its amplitude is controlled to increase at a first rate slower than the rate of increase of the amplitude of ambient audio signals from the area. Also, the amplitude of the subliminal message is controlled to decrease at a second rate faster than the first rate with decreasing ambient audio signal amplitudes to minimize the possibility of the subliminal message becoming supraliminal upon rapid declines in ambient audio signal amplitudes in the area. A masking signal is provided with an amplitude which is also controlled in response to the amplitude of sensed ambient audio signals. This masking signal may be combined with the auditory subliminal message to provide a composite signal fed to, and controlled by, the control circuit.

US PATENT -- 4,573,449 -- METHOD FOR STIMULATING THE FALLING ASLEEP AND/OR RELAXING BEHAVIOUR OF A PERSON AND AN ARRANGEMENT THEREFORE --A method and apparatus is provided with which a person suffering from sleeplessness can be more easily relaxed and may more rapidly fall asleep. In particular, sound pulses are emitted by an electro-acoustictransducer, according to the cadence of which, the person seeking to fall asleep is induced to breathe in and out over a predetermined period of time. By suitably selecting the pulse sequence frequency, the pitch and the amplitude of the sound pulses may be adjusted thereby enhancing the process of falling asleep.

US PATENT -- 4,834,701 -- APPARATUS FOR INDUCING FREQUENCY REDUCTION IN BRAIN WAVE --Frequency reduction in human brain wave is inducible by allowing human brain to perceive 4-16 hertz beat sound. Such beat sound can be easily produced with an apparatus, comprising at least one sound source generating a set of low-frequency signals different each other in frequency by 4-16 hertz. Electroencephalographic study revealed that the beat sound is effective to reduce beta-rhythm into alpha- rhythm, as well as to retain alpha-rhythm.

US PATENT 5,270,800 --SUBLIMINAL MESSAGE GENERATOR--A combined subliminal and supraliminal message generator for use with a television receiver permits complete control of subliminal messages and their manner of presentation. A video synchronization detector enables a video display generator to generate a video message signal corresponding to a received alphanumeric text message in synchronism with a received television signal. A video mixer selects either the received video signal or the video message signal for output. The messages produced by the video message generator are user selectable via a keyboard input. A message memory stores a plurality of alphanumeric text messages specified by user commands for use as subliminal messages. This message memory preferably includes a read only memory storing predetermined sets of alphanumeric text messages directed to differing topics. The sets of predetermined alphanumeric text messages preferably include several positive affirmations directed to the left brain and an equal number of positive affirmations directed to the right brain that are alternately presented subliminally. The left brain messages are presented in a linear text mode, while the right brain messages are presented in a three dimensional perspective mode. The user can control the length and spacing of the subliminal presentations to accommodate differing conscious thresholds. Alternative embodiments include a combined cable television converter and subliminal message generator, a combine television receiver and subliminal message generator and a computer capable of presenting subliminal messages. SOURCE: Judy Wall, Mike Coyle and Jan Wiesemann. Paranoia Magazine Issue 24 Fall 2000 -Article -'Technology to Your Mind' - By Judy Wall

A device for inducing the brain waves of a user to assume a predetermined frequency comprising a playback device, stereo earphones, and at least one light mounted on glasses in front of each eye of the user. Three separate control signals are pre-recorded superimposed onto a single control track. This composite signal is read by the playback device and is decomposed into the separate control signals by filters in a decoder/controller. One control signal drives a first LED and another drives a second LED. The number of sinusoids within the first and second control signal determine the light intensity. The third control signal is passed alternately to two speakers, with the switching between the speakers being controlled by the state of the first and second control signal. Conventional earphones and a conventional tape player may be used. The invention may be used to selectively activate the pins of a parallel port on a personal computer, to which are connected the LEDs. Also, the invention may include a mercury tilt switch mounted to the spectacles worn by the user to determine if he is dozing off and transitioning into the Theta brain wave state. The spectacles have optional peep holes in the lenses.

US PATENT 4,858,612 - HEARING DEVICE --A method and apparatus for simulation of hearing in mammals by introduction of a plurality of microwaves into the region of the auditory cortex is shown and described. A microphone is used to transform sound signals into electrical signals which are in turn analyzed and processed to provide controls for generating a plurality of microwave signals at different frequencies. The multifrequency microwaves are then applied to the brain in the region of the auditory cortex. By this method sounds are perceived by the mammal which are representative of the original sound received by the microphone.

US PATENT 5,159,703 - SILENT SUBLIMINAL PRESENTATION SYSTEM --A silent communications system in which nonaural carriers, in the very low or very high audio frequency range or in the adjacent ultrasonic frequency spectrum, are amplitude or frequency modulated with the desired intelligence and propagated acoustically or vibrationally, for inducement into the brain, typically through the use of loudspeakers, earphones or piezoelectric transducers.

US PATENT FOR BARCODE TATTOO--Method for verifying human identity during electronic sale transactions. A method is presented for facilitating sales transactions by electronic media. A bar code or a design is tattooed on an individual. Before the sales transaction can be consummated, the tattoo is scanned with a scanner. Characteristics about the scanned tattoo are compared to characteristics about other tattoos stored on a computer database in order to verify the identity of the buyer. Once verified, the seller may be authorized to debit the buyer's electronic bank account in order to consummate the transaction. The seller's electronic bank account may be similarly updated.

US PATENT 5,539,705 - ULTRASONIC SPEECH TRANSLATOR AND COMMUNICATIONS SYSTEM--A wireless communication system undetectable by radio frequency methods for converting audio signals, including human voice, to electronic signals in the ultrasonic frequency range, transmitting the ultrasonic signal by way of acoustical pressure waves across a carrier medium, including gases, liquids, or solids, and reconverting the ultrasonic acoustical pressure waves back to the original audio signal. The ultrasonic speech translator and communication system (20) includes an ultrasonic transmitting device (100) and an ultrasonic receiving device (200). The ultrasonic transmitting device (100) accepts as input (115) an audio signal such as human voice input from a microphone (114) or tape deck.

US PATENT 5,868,100 - FENCELESS ANIMAL CONTROL SYSTEM USING GPS LOCATION INFORMATION--A fenceless animal confinement system comprising portable units attached to the animal and including means for receiving GPS signals and for providing stimulation to the animal. The GPS signals are processed to provide location information which is compared to the desired boundary parameters. If the animal has moved outside the desired area, the stimulation means is activated. The signal processing circuitry may be included either within the portable unit or within a separate fixed station.

US PATENT 5,905,461 - GLOBAL POSITIONING SATELLITE TRACKING DEVICE--A global positioning and tracking system for locating one of a person and item of property. The global positioning and tracking system comprises at least one tracking device for connection to the one of the person and item of property including a processing device for determining a location of the tracking device and generating a position signal and a transmitter for transmitting said position signal. The position signal is transmitted to a relay station strategically positioned about a desired monitoring area. The relay station includes a device for receiving the positional signal and determining if the received position signal is a valid signal and a device for relaying the position signal upon determining the position signal is valid to a central monitoring station. The central monitoring station receives the validated positional signal from the relay station and analyzes the position signal for monitoring the position of the tracking device. The system may also include a tracking satellite for receiving the validated position signal from the relay station and re-transmitting the position signal to the central monitoring station when the central monitoring station is located outside the transmission range of the relay station.

US PATENT 5,935,054 - MAGNETIC EXCITATION OF SENSORY RESONANCES--The invention pertains to influencing the nervous system of a subject by a weak externally applied magnetic field with a frequency near 1/2 Hz. In a range of amplitudes, such fields can excite the 1/2 sensory resonance, which is the physiological effect involved in "rocking the baby". The wave form of the stimulating magnetic field is restricted by conditions on the spectral power density, imposed in order to avoid irritating the brain and the risk of kindling. The method and apparatus can be used by the general public as an aid to relaxation, sleep, or arousal, and clinically for the control of tremors, seizures, and emotional disorders.

US PATENT 5,952,600 -ENGINE DISABLING WEAPON-- A non-lethal weapon for disabling an engine such as that of a fleeing car by means of a high voltage discharge that perturbs or destroys the electrical circuits. The transmission of the disabling voltage to the distant target is via two channels of electrically conductive air. The conductive channels are created by multi-photon and collisional ionization within the paths of two beams of coherent (laser) or collimated incoherent ultraviolet radiation directed to the target. A single beam may be used when the high voltage source and the target are grounded. The high-voltage current flows from electrodes at the origin of the beams along the channels of free electrons within them.


5 years ago













5 years ago

Pl do not subscribe to minor ruffles. You can never expect 100% pure of things in India. Let us first allow UIADA authority to cover whole of India. Be patient, Keep patience, Wait for the big sun rise awaiting after completion of work. There will always be difficulties of this kind. But we should not swayed away. You are the most important part of it; so do not fritter it away. Just think if it is going altogether wrong. If yes then suggest a more efficient method to do away with the present counting method. If you do not have any thing to offer, then please stop complaining and give your support to Mr. Nilekani not to the others who are in the job of hijacking this unique project just by inciting people and using people to destroy every good thing. Always do remember, you are most important to society; do not allow any one to use yourself for his interests. GOOD LUCK.


5 years ago

Indian government hasn't even been able to properly deliver voter's ID card to eligible voters.

A large proportion of Indians haven't got their voters' ID card or have got a card full of mistakes.

(I never got my card in spite of the submitting all my details and photograph).

UID is going to go the same way. It is a total waste of money.

It would have been a better idea to convert voters' ID cards to UIDs and attach minors' with their parents' UIDs.


5 years ago

Not clear on why the website is anti UIDAI...

1. Budget for the UIDAI has been approved by the Parliament....Why did the parliament approve the budget???

2. cost stated by UIDAI is Rs. 50 per citizen's enrolment..so the cost will be around 5000 crore + hardware & software...

3. Incorrect numbers such as 1.5 lakh crore or 15 lakh crore is being quoted only to fool people..

4. UIDAI has a huge revenue potential in the form of plucking leakes...If we know the extent of leakages we can be sure of the cost of UIDAI..

5. whether it is 2G or UIDAI it has now become fashionable to convert everything into a scam......It is not good for the people of this country


5 years ago

its become fashionable for so called prominent citizens to raise a flag to any thing they feel like. a transformational project like UIDAI is sure to face opposition from vested interests as this is a game changer for india. ther may be some valid points raised which could be potential risks but there is nothing in life as a risk free thing which brings disruptive change. do you stop using the internet because of fear of virus attack? do you stop commuting because of fear of accident?
the govt has to resolutely push for it as it is much needed to reform a lot of things.
id rather trust nandan on this than some self styled prominent indian citizen .


5 years ago

Absolutely correct. The whole project from basic conceptualisation onwards has been nothing short of a scandal. The sooner the authorities book their losses and move on, the better, especially since the technologies being used as well as the collaborators are both suspect.

Monsoon losing its impact on markets and consumption

Contrary to the general perception that a good monsoon has a positive impact, brokerages suggest that stock markets have performed well even when there was average to above average rainfall. In addition, demand and consumption, especially in the rural market, and the health of government finances remained intact irrespective of the monsoon

In India, agriculture is the mainstay of about 58% of the rural population and contributes to a little below 15% of the gross domestic product (GDP). It is therefore assumed that a good monsoon would always have a good impact on the economy and in turn on the markets. However, over the past few years the markets have performed well when there was average to above average rainfall.

According to a research report by ICICI Securities, in the past decade, on five out of six times when India saw an average-to-above average monsoon, the Sensex posted strong gains June through October, with the only exception being in 2008.

"Good monsoons are linked to strong rural demand in sectors such as autos, fast-moving consumer goods (FMCG) and a possible pick-up in construction activity. However, our study points to a different reality, the link between monsoons and the demand impetus is at best tenuous. Further, monsoons do not seem to have a significant bearing on the health of the state governments' finances or capital formation," the report said.

In the past decade, on each of the four occasions when monsoons were moderate to good, agricultural growth was strong. Typically, a good monsoon has helped in keeping inflation under check. However, bad monsoons or deficit rainfall does not necessarily mean high inflation as extraneous factors such as crude oil prices come into play, the brokerage added.

During FY2011, for the first time in 10 years, both the Southwest (SW) and Northeast (NE) monsoon surpassed their respective long period averages (LPAs) improving reservoir levels significantly, which bodes well for kharif. The current storage is more than the last year's position of 21.54 billion cubic meters (BCM) and the average of the last 10 years' storage of 20.52 BCM.

In its latest update (1st July), the Indian Meteorological Department has said that the all India rainfall during the week to 29th June was 10% above the LPA and cumulative rainfall up to 29th June was 11% above the LPA, with normal/excess rainfall activity over all the four homogeneous regions. In the period 1st June to 29th June, out of 36 meteorological sub-divisions, the rainfall has been excess over 17 sub-divisions, normal over nine, deficient in eight and scanty in two sub-divisions. In the area-wise distribution, 74% of the country has received excess or normal rainfall and the remaining 26% area has received deficient or scanty rainfall. About 65% of the total districts in the country have received excess or normal rainfall, the Met department said.

According to ENAM Securities, a normal monsoon in FY2012E is likely to improve agricultural output prospects and ease food inflationary pressures. It must be noted that the monsoon alone cannot douse inflationary fires and the government needs urgent policy reform and fiscal stabilisation. Hence, further progress and spatial monsoon distribution will hold the key. Thus far, the monsoon seems to be progressing as per the expected timeline, the brokerage said.

The Met department has also revised its forecast for this year's monsoon to 95%, from 98% of the LPA. This implies that the whole SW monsoon season, between June and September, would most likely witness sub-normal rainfall of about 90%-96% of the LPA with a model error of +/- 4%.

"The figure of 95% rainfall forecast for this year is not alarming, but the monsoon's behaviour during the crucial month of July holds the key to the output of the summer crops, including rice, as most of the plantings take place during this month," Sharekhan said in a research report. While a good monsoon boosts sentiments across the strata, it may not be the only reason for good demand and consumption. Especially, rural demand and consumption have so far remained alienated from rainfall, whether good or average. Alternative revenue sources and easy switch to industry have lowered the impact of rains in the rural markets. The National Rural Employment Guarantee Scheme (NREGS) has increased rural household incomes apart from providing employment. The population at the bottom of the pyramid can also switch easily to other industries, which are facing manpower shortage. Traditional sources like animal husbandry are also gaining due to productivity enhancement and are yielding very attractive returns.

In addition, the onslaught of the media, developed infrastructure and the farmers' own urban experiences have given rise to a dramatic shift in consumption behaviour. Companies across the board from automobiles and FMCG to consumer durables, are expanding reach and fuelling discretionary spending through innovative pricing and packaging. The rural consumption theme would remain strong and inflation is more likely to eat into savings," Sharekhan noted.

According to ICICI Securities, sales of FMCG and consumer durables are primarily driven by lifestyle changes, disposable incomes and economic growth and much less by monsoons. Similarly, the monsoon has little impact on discretionary and non-discretionary spending and post rainy season activities. Cement dispatches, a proxy for real estate and construction activity, are less conditional on monsoons and more on broad economic activity, the brokerage added.

While a good monsoon has potential to boost total agricultural output, an average or above average monsoon provides a chance to improve incomes. According to Sharekhan, hypothetically, a normal monsoon and a bumper crop mean most produce being sold at minimum support prices (MSPs) and zero inventory gain. On the other hand a scarce monsoon means higher market prices, but little crop to be sold. However, a sub-normal monsoon combines the positives of both the worlds as price per unit sold would jump much more than the MSP and there would be potential inventory gains too, the brokerage said.

Though stock market returns and the monsoon have a strong correlation, the effect of the monsoon on the broad economy is less pronounced. However, the dwindling contribution from the agriculture sector to the GDP is a worrisome factor, that too when over 58.4% of the country's population is dependent on it for its livelihood. Over the last decade, the agriculture sector's contribution to overall GDP has fallen to under 15% from 24%. Low and volatile growth rates and the recent escalation of the agrarian crisis in several parts of the country, are a threat not only to national food security, but also to the economic well-being of the nation as a whole.


Higher deposit, lending rates put pressure on bank margins in first quarter

Brokerages say banks are seeing a significant growth in funds mobilisation, but lower credit off-take; public sector lenders under strain from exposure to power utilities

The banking sector is likely to have a lacklustre performance in the first quarter on account of dull domestic conditions that has resulted in lower credit growth and higher resources mobilisation, according to brokerages.

ICICIdirect.com says lower credit growth will see a dip in margins and there is a need to watch asset quality along with the stricter provisioning norms by the Reserve Bank of India (RBI). But private banks should be better off on net interest income (NII) and profit after tax (PAT) that is expected to grow by 22% and 32% year-on-year, respectively.

The brokerage estimates that Yes Bank's non-interest income growth will be much better at 29%. But lower credit off-take and higher yields are impacting treasury, the brokerage says, and operating expenses are expected to rise with the opening of new branches during the first quarter. PAT growth should be a healthy 49% y-o-y.

Angel Broking observes that credit demand has declined to around 20%, whereas deposit growth has increased to over 18% in the period, as a sharp hike in lending rates has affected credit off-take, while continually increasing deposit rates over the past six months has resulted in a pick up in mobilisation. Consequently, much of the funds mobilised has been deployed at a negative spread in government bonds.

Also, the RBI hiked savings bank rate by 50 basis points to 4% on 3 May 2011, for the first time in 19 years, reducing the spread between savings deposit and term deposit rates, which has widened significantly recently.

Brics Securities expects Punjab National Bank (PNB) to take an earnings hit of 2.5% to 9.9%, mainly due to the overhang of power sector exposure and restructured asset slippages. Estimated EPS for 2011-12 is down by 1.2 % to factor in restructured asset provisioning (Rs155 crore) according to new RBI guidelines.

Of the entire power sector exposure, the share of private power generation companies is 62 % (about Rs13,200 crore), state electricity boards at 23% (Rs5,000 crore) and state generation companies/utility companies at 8% (Rs1,600 crore). In the event of asset quality slippages in the power sector due to fuel shortage, PNB is likely to take a hit from reversal of accrued interest income and provisioning expenses.

According to KR Choksey Institutional Research, state electricity utilities are making losses by selling power below the cost of purchase. Only 16 electricity utilities have revised tariffs to adjusted higher fuel cost. This is indicative of the woes of PNB and other power sector lenders.

Overall on the banking sector, KR Choksey believes that NII growth and fee income are likely to remain healthy on the back of robust loan growth. Compression in margins coupled with slippage from stressed sectors like small and medium enterprises and micro-finance institutions could act as earning dampeners.

Moderation in the credit-deposit ratio and the rising cost of funds are key drivers for margin compression during the quarter. Margins of most banks are likely to be under pressure due to rising cost of funds and slowdown in credit off-take. Given the fragile credit demand, banks may absorb about 50% rise in cost of funds.

The sector's margins have peaked and are likely to contract by about 10-15 basis points quarter-on-quarter (q-o-q). NII of banks under coverage is likely to grow by 21.9% y-o-y and 2.2% q-o-q. Earnings are likely to grow by 13.1% y-o-y and 33.8% q-o-q (excluding State Bank of India for which earnings are estimated at 16.4% y-o-y and 6.7% q-o-q). Earnings of private banks are expected to grow by 36.6% y-o-y and a negative 1.7% q-o-q.

Sharekhan estimates moderate earnings growth for the banking sector in the first quarter. This would be due to a dip in margins and increased provisions. It expects banks to post a moderate growth in top-line due to modest credit off-take and pressure on margins due to rising rates. Though banks have increased lending rates, the lag impact of rise in funding costs and increase in savings deposit rates will impact margins. In addition the higher non-performing asset (NPA) provisions (due to revised norms) and higher employee expenses (due to amortisation of pension expenses) would hit profit growth y-o-y.

With inflation expected to cool down in the second half of 2011-12, pressure on the banking sector could ease going forward. For now, though, when returns are healthy for depositors, but funds costly for borrowers, it could be a difficult period for investors as they look for bargains at lower levels.


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