Is Creating Backlinks On Regular Basis Have Any Effect On Ranking?

[anush]

The effect would be negative or just ineffective at most.
Just building links does not help the website.
You have to build quality content and then ask people to talk anout it in their blogs.
Let them link to you the way they would link to any other.
This natural tendency to build links would help a lot than just mindless link building.

But frankly home many of them link back??? Even if you do get a link back it will be probably a no-follow. But your tactic is good and if a link is earned then it can send some good amount of referral traffic.