Paisawaisa - Blog Post

Is Attrition still a problem?

Fri, 03 Jul 2009 06:26:10 UTC

“Attrition has come down”, I happened to see this posted in one of our (Indian) news papers recently, which started pinging me about thinking of something I want to know and discuss about- ”Has it really come down?”

When I approached a couple of people who serve the Human Resource Department for a reputed IT giant, their immediately reply was “Yes”. But when I inquired about the new hires, they admitted that their hiring capacity has come down by 90% compared to the previous year (2007-2008). The actual question comes here now about “attrition?”. According to them the attrition was about 14% in the last year (2007-2008) whereas this year (2008-2009), it stands at 5%, which is still high as per the global market conditions. By having these figures in hand, even an illiterate can deliver his judgment with no further debate. In this case, the “hiring” has cut down to 10%, but the attrition rate has just settled down at 36% (14% to 5%), which is according to me, is still sizeable. Now, with not much difficulty, you can guess the next words from the two gentlemen, yes your guess is correct “It has not”.

“An IT appointment is no more be a dream future for the college out-comers?”- Can anyone reply a “Yes” to this? Working after a considerable time in the IT arena, it might be a nightmare for some but people have to really acknowledge that it is one of the Industries worldwide, who accommodates huge number of jobs with attractive pay packages and is still a right path for right people.

Coming back to attrition, I went further to enquire the above two gentlemen about “Why do people change jobs?” Being in the HRD, their answers were not different but the most common complaint or rather a prime reason for many people which they often hear from the exiting employees is “Problem with BOSS”.

“A change is inevitable” but the change (or rather Attrition) causing by another employee is not what the company really expects. The root for most of the problems is that many of the companies (especially small sized) do not (even try to-its true) acknowledge that “Techies do not trade their time just for money”.

We will deal with “Problem with Bosses” & “The Two Faces of Attrition” in the next writes.

Online Banking - Makes it Easy

Mon, 22 Jun 2009 06:48:11 UTC

Online Banking – is one of the fastest, easiest and convenient way of banking in today's world. No hassles of lining up in long eternal queues to pay your bills or to get cash from your banks. The generation is changing with every passing day and to step up with it you need to forget your past and move ahead. I guess each and everyone of us has heard about online banking but most of us didn't give it a thought to try. People still follow that ages old and outdated methods to pay their bills via mail and deposit checks at their bank branches, the same way their parents did. With Online banking, people can shop freely for a life insurance loan, or a home mortgage, but still people feel that they are more comfortable to hire an agent they know or a banker they count upon.

Online banking is launched into the market so as to make your work easier and not to change your money habits. The best thing about online banking is that it makes use of computer technology to do all your banking work so that you don't have to do all those time wasting paper-based work and to mange your finances more quickly and efficiently. It is eco-friendly also as it slashes down the amount of trees to be chooped down by doing everything online.

All the banks provides the online banking facility whether it is Axis bank or it is ICICI Bank. Along with the facility of online banking there are few more facilities that the banks provides with the online banking. For example: Axis Bank gives you the Online Balance inquiry for Savings Bank Account, Current Account, Term Deposits, Loan Account along with the Quick View of the Synopsis of last 6 transactions in your account and Online Transaction Query.

On the other hand ICICI Bank provides you the facility of tranferring the funds online, along with pre-paid mobile recharge, monthly bank account statement, smart money order, balance enquiry, statement and transaction history to name a few among others.

Online banking is the only thing you will ever need to make your work done in within a fraction of second, whether it is checking your last transactions or it is booking of flights or transferring of funds. The most important thing is that it is safe and the banks takes special measure to ensure that you don't get cheated or scammed while using online banking services. So, next time just log on to Internet before standing in queues.

Bad Credit – Avoid It

Tue, 16 Jun 2009 10:34:15 UTC

Falling in a situation of financial crunch is not some odd situation now a days. Under the issue of strong monetary claims, the lack of requisite security to place as collateral against a financial loan, may arise some issues. In these kind of unexpected situations, unsecured loans remains as the one and only solution to meet your demand for loans without collateral. As a result you should be very careful about the loan plan that you applies for. Poor credit record will definitely weakens your chances to get a suitable loan. The lenders considers the borrower with poor credit record and without any collateral as one of the high-risk category.

But what ever stated in above paragraph does not mean that getting easy financial loans is impossible. These circumstances asks you to apply for the right category of loans that are designed to meet the special financial needs of yours. Bad credit unsecured loans are one of the deal with in the category of loans that comes very handy and very useful to assess your special credit rating and your financial limitations.

Taking in consideration the situation of bad creditors, financial lender has come up with their offer to sort out the issues of such people. Therefore, if you have no property to pledge and with poor credit rating, you can adopt these unsecured loans. None of the home owners like tenant can also make use of the bad credit unsecured loans, to meet any urgent financial needs. However, a potential borrower must consider this in mind that the bad credit unsecured loans come at a higher rate of interest than any other general unsecured or secured one. This is because of the concern that the bad credit also increases the already high interest rates charged by lenders in unsecured loan you take.

The high interest rates are charged for the unsecured loans just to minimize the risk against the potential loss of the principal amount of loans of the lender. That is the main reason why the borrower is ask to prepared for the burden of such interest rates before applying for such loans. If you are opting for bad credit unsecured loans, it clearly indicates that you don't have to place any assets as security against the loan, so you don't have to get worried about the losing your asset. But under the condition of not paying the borrowings may force the lenders to take some legal action against the borrower. In case of not refunding or delaying the repayment of loans, only increase the bad credit rating of yours.

The Internet is one of the best way to apply for the bad credit unsecured loans. As most of the lenders offer the loans through electronic facility for the ease of consumers which makes it easy and convenient to apply. All the interested borrowers is required to fill up an Online application form on the lender's web site, with all of his basic personal and financial status. The eligibility that are taken are very basic.

When you are done with the submitting of forms, the forms are verified by the lender for the accuracy of the information. After satisfaction they will provide immediate decision on the loan approval. The approved loan is transferred to the account of the borrower within a span of 24 hours of approval, that makes it very easy and convenient for borrower to meet urgent financial needs. With their wide open opportunity have opened the door for ill-credit holders, hence, bad credit unsecured loans are on their highs at the moment.

Something that you are missing about Credit Cards

Fri, 12 Jun 2009 06:58:49 UTC

People easily get trapped in the multiple credit card debt and opt for credit card debt consolidation. But no one knows the pros and cans of this loan. Taking proper steps and measures can save you from consequences of these loans.

When someone is speaking about credit card debt consolidation loan, others cannot find that why and how it is important to them. Well, one has to be very concious if he is interested to manage his debts in a disciplinary manner. collecting complete information is the frist thing that has to done if you have decided to go for this particular option. Make sure you have spend enough time after this so as to learn more and more about credit card debt consolidation. When you are assured about the effectiveness of this option, it helps to build confidence when you step ahead for this option.

Arranging your multiple old debt of higher rate again into single loan at lower APR(Annual Percentage Rate) is the approach behind this type of loan. This means your old credit card debts are consolidated to make it a single loan. Now the question arises that how can a single loan can reduce the burden of multiple loan? It has a very simple answer, multiple credit cad debts are of very high APR which bury the borrower under the stress of repayment. However, when they are consolidated, the rates get decreased eventually and thus it makes it timely payments more comfortable

you should keep that in mind that it can only be helpful if you can make it as fast as possible. Dragging the tenure period too far can in turn be hazardous for you as it may eat away most of your money in rate charged. This is due to the fact that it cannot be called as magic therefore, you too need to put your effort to pay off the dues. As it is mentioned earlier that a thorough research is required before you enter the zone of credit card debt consolidation, you are highly advised to stay way from unscrupulous companies. You may consider it as warning because there are so many cases where people have been sued by not paying off their debt. This is because of the sever fact that these people blindly believe such scam artists and do nothing negotiate with the lenders. This what ended the matter to court after causing troubles.

Even you can't say that all companies are masked face. These are some of the major factors which compel people to make deep delving to avoid undesired consequences. But, considering many other cases, several people faced unknown problems despite of dealing with renowned lenders. This is due to the fact that such people do bad practice of using credit card soon after getting a consolidation plan. Even good entities become helpless by doing that.

For reducing the credit card debt, you make sure that you find a right consolidator. This is the foremost thing that has to e considered when are willing to fight with your huge credit card debts. Moreover, make sure do not use your credit card while you are in to tenure period otherwise you will never be able to get out of debt. Hence, do your best to find good consolidator for credit card debt consolidation and stay away from credit card.

Thu, 04 Jun 2009 04:56:10 UTC

Something you should know about credit cards

Wed, 03 Jun 2009 06:22:08 UTC

Credit card is a vital part of system of payments named after the small plastic card issued to the customers by their respective banks. In simple words, it is a card which enables its holder to make purchases of goods and services based on the holder's promise to pay for these goods and services. The issuer of the card grants a line of credit to its card holders from which the customer can borrow money for payment.

However, a great degree of precaution is needed while using credit cards and its security relies on the physical security of the card as well as the privacy of the credit card number. Whenever any person other than the card owner has access to the card or its number, security is potentially compromised and this creates countless opportunities for fraud. With more and more cases of credit cards frauds, a huge black market has been created which uses the stolen cards quickly before the cards are reported stolen.

Now-a-days, credit firms are not trying to eliminate fraud, but to reduce it to manageable level since high-cost low-return fraud prevention measures would result in higher costs when compared to the profits in tracking and eliminating frauds.

Credit card frauds have been hitting the consumers for several years. While this problem is not a new one, there are things which one should put into practice to avoid any unwanted event to take place such as fraud and theft of credit cards. Consumers should always be on the lookout for situations where their personal information is vulnerable and learn how to prevent becoming a victim. Here are a few tips to help you keep your personal information protected.

Don't ever give your credit card informations to a phone call or email solicitation. The caller may claim to be from your bank, credit card firm and claim they need to verify or update your account. In practice, no company will request this information over the phone or any other form of correspondence. If you are in doubt, you should hang up and contact your financial institution with contact information you already have (do not used return email or phone numbers given during the correspondence) to verify the request.

Always keep your credit card in your hands as long as possible and keep an eye on your card while the other person swipes it when making purchases. One can misuse your card in a matter of few seconds. For this reason you should pay close attention when completing a sales transaction; one minute talking on your phone.

Review you credit card statements at regular intervals. New and innovative technology has made paying bills easy and convenient and many people even opt to not receive paper statements in the mail. While this reduces the chances of your credit card information being stolen the old fashioned way, it also tends to make consumers lax in reviewing their statement closely. If you find your statement and find some suspicious charges there, do make it a point to call your bank.

Always take extra care while handling credit card receipts. Make sure that you keep your receipts in a secure location. If there is an error when making a purchase insist on voiding and destroying incorrect receipts. If you are using your card to pay for dinner and you leave the waitress a cash tip, be sure to draw a line through the section of the receipt where an amount for a tip would be written to avoid fraudulent charges.

Use your common sense when you feel suspicion. Make it a point to know where your credit card is when you are out and about. Avoid the habit of keeping your credit cards in your back pocket or in a jacket pocket where they can easily fall out or be stolen. When giving your credit card information over the phone, be aware of your surroundings and pay extra care to those who may be listening a little too closely. Finally when using your credit card for online purchases make sure the website you are using is secure.

India Rising

Mon, 01 Jun 2009 07:29:41 UTC

Triumph of hype and hyperbole over honest reporting. ABCNews has a report titled India Rising: One Billion Reasons to Care which is a study in scare mongering. I am sure that some Indians will misinterpret the report as high praise, instead of the scare mongering it really is.

Take for instance their claim that if your job requires you to sit in front of a computer, then “there is an Indian, perfectly qualified, who would do your job at one-tenth your salary and who’ll work six days a week, twelve hours a day and there are more English-speaking Indians then there are Americans, and most are wired in more ways than one …” That is just the beginning and it gets better as we go along.

The grand marshal of the “Flat World” movement is predictably present to add to the hyperbole, of course. I speak of none other than our very own Tom Friedman. But more about him later.

Crouching by the entrance of a hut in a slum in Mumbai, the reporter asks the woman how long they have lived there. She answers in Hindi, “For many years,” which he reports as “25 years they have lived here.”

Why, the reporter wonders, if Indians are so successful in being clerks for the Americans, is India so impoverished, over video footage of what looks like slums along the Mumbai local train tracks, and answers his own question by stating it is because it is diverse and is a democracy.

Talking about diversity and democracy, the reporter is amazed that India is “home to 150 million peaceful Moslems.” Subtext: “Home to 800 million warring Hindus?” What exactly is he insinuating? That the rest of the world has blood-thirsty Muslims? What was the need for inserting that gratuitous adjective? Memo to ABC: Indian Muslims are no different than Muslims anywhere in the world. People are people.

Anyway, going along we are told that there is a method that evolves from all the madness in India. “It is a miracle,” Tom gushes. And the reporter declares that it is “a sort of a self-organizing system that scientist tell us occurs in ant-hills and beehives.” He drags in CK Prahalad who is reported as saying that “we should look at [India] not with pity but with respect and fear because this is where the next wave of global Titans will arise.”

Did I say the underlying theme is fear mongering?

The clichés come fast and thick in the 7 minute video. “I met Fareed while stepping over rats in a Bombay neighborhood,” starts a segment with a kid sending a SMS on a cell phone. The presence of malls and McDonalds in India is why the 700 million under the age of 35 no longer want to leave home and go to America since 9/11, explains the reporter.

I have an extremely low opinion of commercial American TV. Watching the report once again justified my ill opinion. The average American cannot but be more than a little confused about what India is all about, and more than a little resentful that the filthy Indians are out to steal American jobs and their American way of life. It would appear to him that America is under siege not from Islamic terrorism alone but Hindu office workers as well.

Thanks for the help, Tom. Much appreciated.

Speeding up of Indian auto world

Mon, 01 Jun 2009 06:08:15 UTC

Everyone is aware that the world economy is on the halt and this can be proved to anyone by showing him any international business news channel where many companies are showing the annual or quarterly loss and getting merge with some other company to protect itself, some are selling the funds to arrange for the funds to stick in the market, while some are registering the bankruptcy. The biggest example of the world's financial decline is the recent cases of General Motors which has taken it to the bankrupt stage.

This shows that besides aviation and steel industry, Auto sector is also very badly affected by the recession as many other auto majors around the world are also recording the big loss and is looking for some strategic partners. But is this fact falls true in the Indian auto sector also? This is a big question as this is been analysed that the recession is prevailing in India also but it does not look like the same thing when I saw the annual results of Indian auto companies which shows the profit in the middle of the global economic downturn.

Amid recession the largest auto maker of India Maruti Suzuki has posted the growth in the profits in comparison with last year's calculations, TVS has also shown the profit with a good rise and the Yamaha sales in India is also on the green side.

In the middle of these rise in profits the profit posted by Hyundai is the one prevailing on the red side and this also affects the international auto company as Hyundai is a multi national.

With this good results posted by the India auto majors and those international companies which operates in India and the international auto majors showing the loss, I think that Indian market is going to become most important for the overseas companies. I think India will see the good financial time ahead.

Identity fraud rate on rise

Thu, 28 May 2009 07:06:44 UTC

Identity Fraud rate is going on increasing day by day and has touched the tip in 2008. This is the first time in 5 years that the fraud rate has been reported that high. With in a span of 12 months the identity fraud victims grew by almost 22% to 9.9 million, with an annual incidence rate of 4.32%. This statistics almost flipped the four-year incidence trend which was on decreasing track.

The only good news to be cherished is that the actual consumer cost of all of these fraud have actually plunged by a certain ratio. Nevertheless, the total value of identity fraud is a astonishing $48 Billion.!

Out of the total around 11% of the people stated their information was stolen in a data breach, and around 19% stated that it was stolen while doing transaction, and around 13% stated that it was stolen by someone they knew very well. 11% of the people stated that their data was stolen online, and the rest of the people stated that it was stolen via mail or other means.

This is very concerning and astonishing given the amount the entities are been spending on security systems. I wonder if this will have a -ve impact on the service of online banking and payments. Although, recently Fiserv with a reaserch that noted that the adoption of online banking has actually provided the current economic scenario as consumers keep a close tab on their finances.

The new face of banks in India

Thu, 28 May 2009 06:12:55 UTC

Like any other sector in India, banking sector has also gone through a number of changes. Going by the history, banking in the country originated in the last decades of the 18th century and the first bank which came in existence is the State Bank of India, a government-owned bank that traces its origins back to the year of 1806.

In the present scenario, banking sector in India has been segregated as public or private sector banks, cooperative banks and regional rural banks. It has become mature in terms of supply, product range and reach, however, rural India still remains a challenge for the sector. In terms of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and transparent balance sheets when compared to other banks in comparable economies in its region. The Reserve Bank of India is an autonomous body, with the least pressure from the government regulatory authority.

The structure of Indian bank banking standards went through a number of changes with the time and development of new and innovative technologies such as online banking and mobile banking. ICICI, HDFC, ABN Amro, City Bank and State Bank of India are some of the banks which are offering a wider range of options for the consumer and are seriously focused on the customer satisfaction.

To earn high profits and remain in the competition, these banks, both private and public sectors, come with new and innovative features on regular basis and one of the prominent feature developed by the banks is 'online banking' which enables the customers to conduct their financial transactions on a safe and secure website which is generally operated by their banks. With online banking, one can execute several transactions sitting at home with his personal computer such as account to account transfer, paying a bill, applying for a loan without visiting the bank and the facility is available round the clock.

The last 10-15 years have witnessed a sharp change in the Indian banking structures and products & services which are now being offered to the customers who now have plenty of options to choose from as per their banking needs. Savings account, current account, fixed account, investment plans and a range of other products are in the line for the customers and even loans are being processed without much documentation and hassles at the doorstep of the customer.

So if you happen to be a person who really wants to enjoy the perfect banking solutions available at your service, round the clock, bank is just at the end of your road and even locations of the bank with which you want to open an account with, is available on the internet.

How to save money on Car Insurance

Wed, 27 May 2009 06:17:54 UTC

Car Insurance are very expensive now a days especially when you are buying a car insurance for drivers that have little or no experience or car insurance for the people that have been involved in an accidents already. There are plenty of ways by which people can save on car insurance. All it takes is a little effort and a little research. By following the points that are described below, you can save as much as several thousand of Rupees from the price of your car insurance premiums.

Driver Training is must

Driver training courses that are available in the market via several different agencies includes the driver being taught in methods like how to drive safely and defensively. The lessons which are taught in these types of courses can create a good, safe and a educated driver which can be tested and can be assured to lead to fewer accidents. The fewer the accidents are reported, the lower will be the policy premiums and thus driver training program is an advantage to everyone who is involved involved in the insurance process i.e. the driver and the insurance entity.

Maintain a Good Driving Record

Maintaining a good driving record is one of the vital part to get a good and competitive price when buying a car insurance. The driver should just take care of the small things like avoiding accidents and speeding tickets so as to ensure that you can get the lowest possible premiums. These types of small little incidents can remain there on the driving record for a maximum up to 10 years and thus can affect your premiums.

Maintaining a good driving record is very important as it flaunts how much sensible and responsible the driver is and which can equal bring down the monthly premiums.

Wrap up your insurance needs with Multiple Policies

Wrapping up your insurance via an insurance entity that provides multiple types of policies, that includes home, auto and health. Even a life insurance can save the customer up to 15% from the price of each policy. This way, the consumer could pay a lower monthly premium and have access to all of their accounts via one convenient entity.

Look out for Competitive Prices

Seeking and searching around for competitive insurance prices is an very important step to guarantee that you are getting the best price for your car insurance. Making the use of internet to determine the best price for car insurance can come handy as there are many sites available that allows the consumer to fill in their information once and receive alerts from more than 10 of the leading car insurance entities. This form of searching about car insurance can save hours on the calls and searching via the websites of various competitors.

By using these few tips you can help yourself to lower your automobile insurance and to save the money that is going out of your wallet, after all, with the current state of the world's economy, who don't want to save a couple of bucks.

Ram Mandir

Wed, 27 May 2009 03:35:18 UTC

why allways we indians have to listen that you are hindu he is muslim that one is etc..

please letup grow india please we are worry about our future.we dont want any mandir on that place we dont want any masjid on that place(AYODYA).PLEASE MAKE ONE PLAY GROUND FOR SMALL CHILDRENS AND PEACE PLACE FOR OLD PEOPLES.

Few guidelines on Travel Insurance

Tue, 26 May 2009 07:05:08 UTC

Now a days, people are becoming more and more cautious so as to secure each and every aspect of their activities. Likewise insurance also finds much broader acceptance in protecting us in each and every possible way. Surrounded with such security and safety measures, travel insurance came up as an essential tool to take care all of our traveling headache's. Nevertheless, before taking up any travel insurance among traveler insurance facilitators, one should definitely make sure of the followings....

First and foremost, before buying any travel insurance, one need to know that if the credit card he/she possess already hold or carries any travel insurance protection or not. In these days, many credit card providers also provides with the facility of travel insurance protection to the card holder. However, in such cases the coverage is only available and applicable to the concerned person with a huge extent of limitation & comparatively it facilitates very less amount of flexibility than a totally dedicated travel insurance. If you are traveling along with your family members, then these types of add on offers provided by your creditors will not be a much needed help. Alternatively, if someone is travelling with friends or families, travel insurance is very essential. In such cases, a single travel insurance policy can cover all the traveling members.

In both of the above mentioned cases, it is very important to work out the exact cost of your travel. More precisely, one need to furnish details of all expenses that will come under the policy. For instance, if you provide only cost of flight and accommodation and and not the car rental expenses, that means no protection is available for you and your family if something happens while you are driving a rental car. Also, when you are looking for the online travel booking most of the times the booking engine adds insurance coverage with your package. In such cases, you need to make sure that if such policy carries any money back guarantee or not. In absence of any such guarantees, it is always advisable to avoid such coverages. In the recent times, many insurance entities provides some grace days to their customers to examine the policy certificate so as to customize their customer orientations. However, if the so called policy holder is not satisfied on any of the issue with in such given period the total payment made to the insurance entity is reimbursed back to the client on a condition that no claim has been made with in that span of time and accordingly the certificate becomes void. And at last the most importantly you need to be tactful enough to take up each and every advantages and disadvantages of the policy agreement before finalizing your decision.

Japanese economy in a recovering phase

Tue, 26 May 2009 06:46:38 UTC

The on-going economic downturn has severely hit the Japanese economies and most of the Japanese firms posted huge losses for the just concluded financial year. Downturn hit the economy and has resulted in a steep fall in the demand for the products and services in the country which forced the firms to lower their production to match the falling demand. Firms cut thousands and lakhs of jobs to remain in the competition and lower the level of costs.

However, the economy faced the slump and now has started showing recovery and even the government authorities are taking effective measures to tide over the on-going economic recession and put the economy on the track. In a bid to rescue the small firms, Japanese government has pledged to provide an additional financial aid by channeling funds from a government-affiliated bank, even as credit market conditions the country has started to show signs of recovery. Japan Bank for International Cooperation (JBIC) has decided to offer a $3 billion in loans to small Japanese firms operating overseas to assist them in raising cash in the US currency. However, financial markets have been showing improvement in the recent past, Japanese authorities remain concerned about funding conditions of small and medium sized firms.

Recently, Bank of Japan Governor Masaaki Shirakawa also expressed his views and promised that the central bank would keep a check on the funding conditions for the small firms. It is to be noted that the on-gong economic downturn has severely hit the small Japanese firms and even banks are reluctant to provide loans due to the rising bankruptcies among them as the Japanese economy is facing its worst economic recession.

As part of its policy to help the industrial sector in tiding over the current global downturn, the Japanese regulatory authority has taken a series of steps to support corporate fund raising. In line with the latest plans, JBIC would provide five-year loans to overseas subsidiaries according to their requirements. It started offering loans to export firms along with others which operate in developing countries and help them secure dollar funding.

In addition to this, the government is taking several effective steps to help firms raise yen in cash which includes providing 30 trillion yen to guarantee loans to small companies and providing a 20 trillion yen loan. It seems as if the Japan is on the way of recovery and soon it will be out of the recession.

Airtel to go MTN style!!!!!

Tue, 26 May 2009 05:38:26 UTC

The world might be suffering from the economic slowdown but every one knows that some industries are not going to face the heat of slowdown at any time. Whether one is earning profit of loss he will be going one place to another in his own town or city and will also have food which shows that oil & gas sector is unbeatable in recession. Some big people of the big business world have also observed that whether one is earning profit of loss he/she will be talking on phone and that is why Bharti Airtel is ready to put a big amount in the telecom company MTN, which is yet to strengthen its position in India.

The size of the deal is big as it is estimated as $23 billion which will merge both the companies with each other in a form that Airtel will help MTN in establishing in the domestic market and MTN will provide enhancement to the Airtel's business in the overseas market.

I think the deal will provide MTN's business a big boost as Airtel is the big telecom brand and is also listed among the fastest growing companies of the world and this will help the company to establish the MTN brand in the domestic market, but will Airtel also be availing the same benefit to enlarge its business hand in the overseas market?

One can expect a good growth of MTN and Airtel together in the domestic market but I think that our Indian telecom giant will have some problem in spreading its magic in the overseas market with the help of MTN as the company is mostly famous in the 3 major countries only and it has to capture the market of the countries like Europe and USA.

I think if the company moves to other countries, it should do it on its own as Airtel is a big and trusted brand and people know about it in the other countries also.

Banks and their loan products

Mon, 25 May 2009 06:29:32 UTC

Banking in India has evolved with the time and presently, the private sector banks deal in a number of financial products such as home loan, standard life insurance, mutual fund, securities, credit cards, etc. they have their branch offices all the major cities of the country in order to reach more and more customers expand its market presence.

To meet the growing financial requirements of the customers, banks offer a wide range of loans which includes personal loans, car loans, home loans, new car loans, used car loans, two wheeler loans, education loans, loan against securities, loans against property among others. In order to earn high profits and remain in the competition, banks have started bringing home loans to customers' doorstep. With professional experience and teams of experts, banks offer a complete package to meet all the housing finance needs and help to realize dreams into reality.

Under personal loans, one can borrow amount depending on his or her requirements and repayment options are flexible which range from 12 months to 60 months. Other features entailing personal loans are reasonable interest rates with no hassle and requires no guarantor or security.

One can even apply for attractive car loans offers wherein the loan borrower gets up to 80% of the value of the car. One can apply for new car loans as well as used car loans with a flexible repayment options, ranging from 12 to 60 months.

Home loans is another best thing about the bank which they provide at the doorstep of the customers. Under home loan category, the applicant can choose among the following options:

Home Loan - Home loans for the people who want to buy (fresh / resale) or construct houses. Application for the loan can be made easily and bank provides finances up to 85% the price of the property

Home Improvement Loan - If one wants loan for internal and external repairs and other structural improvements like waterproofing, painting, plumbing and electric works, tiling and flooring, then home improvement loan is the option to choose.

Home Extension Loan – One can apply for the loan for the extension of an existing property which one owns.

Land Purchase Loan - In case one wants to buy a land for building a dream house or wants to make an investment in the property, Land Purchase Loan is a convenient loan facility for the purpose.

Now-a-days, banks have become a necessity for different reasons and one can not imagine the world without banks and the various products they provide.

Are you aware of your credit card rights?

Mon, 25 May 2009 05:29:03 UTC

Most of the times we hear about credit card billing issues of others or we ourselves might have faced such problem, where either we are charged some extra bucks included by credit card entity or charged for something we have not buy. This is a usual issue we hear about from someone or other. Do we are aware of our credit card rights? May be very few or none of us know what the rights are. It's very important to know all your credit card rights so as to avoid such billing related issues.

Check your credit card right:

Whenever you make a payment, the credit card entity must credit your account within 24 hours. In case it doesn't happen, then credit card issuer are not allowed to charge your account with additional finance charges. Many credit card entities were caught for violating this protocol and charging extra from their customer. Make sure to get thorough with your payment procedures.

If you make more payment for your credit card bill, you have a right to get the credit in your account. The amount which is over paid will get added to your credit limit. You can also ask for refunding by writing a request. The refund must be issued to you with in a span of seven days by Credit Card entities.

If your credit card is lost or stolen, you must report it immediately. Card holder will not be held responsible for any charges after the lost or stolen has been reported. And if there are any fraudulent charges houses in your bill, you only have to pay $50. That is the most that you have to give in such case. So the best way to avoid this charge of $50 is to report a lost of card or stolen of card as soon as you discover it missing.

In case you find some error in your billing statement, you can file a written complaint within a span of 60 days. An investigation must be done within 2 billing cycle and not more than 90 days of receiving the complaint.

Whenever there are some changes made by the credit card entity in the term agreement, they must inform you this via a written notice. And if you are not alright with the changes made, you can always reject the offer by following the instructions that are provided with the notice.

Being a consumer you have both rights and obligations while dealing with credit card entities, as it's controlled by both state and federal law.

How to keep your credit cards safe in online transaction

Thu, 21 May 2009 06:59:27 UTC

With great powers come great responsibilities (movie: Spiderman) As more and more advancement in technology is coming in your way the need for more security to prevent fraud and deceptive practices is required. Especially when it comes to financial information and credit cards. Making online purchases can be a time-saving and a convenient way to do your shopping but for many of the people, it is an act of anxiety which induces stress when the submit button is hit. When it comes to protecting your credit cards online, there are several different ways that can provide you peace of mind and to keep yourself safe.

Here are several different ways to keep your credit card information safe online:

1. Look for Verisign

Verisign is a entity whose sole purpose is to identify and verify secure websites. Their icon is visible as a tiny padlock displaying on the website, which assures that the site has been verified by the entity.

2. Pay with Paypal

to make all your online payments safer Paypal is the best alternative. It was created so as to protect your personal financial data. By making up a simple online account, individuals can then use their Paypal account to make online purchase transactions without having to reveal their personal financial information to vendors or private sellers. Paypal promotes good security measures, nevertheless there have been occurrences of security issues within an account. The Paypal customer service team is very active and qualified at assisting during such incidents.

3. A Separate Credit Card

If you make a lot of online purchases, it is always advisable to use one credit card that you only use for online transactions. This can help you pinpoint security concerns faster and easier and does not freeze an account you rely on in the event if something does go wrong. Keep the account credit limit high enough so as to purchase anything you want but low enough so that you are not financially disabled if something happen. Be sure to keep a check on your account statement carefully each month so you can promptly report any doubtful activity. If you report fraud in correct time, you will not be held responsible for the unauthorized usage.

4. Open A Separate Bank Account

If you want to open a Paypal account or use a bank account as a back up source of funding, open a different and separate bank account to help prevent intruders from draining your life savings should they be able to break into your account. Managing two different bank accounts can be easily handled now as the most banks have an online system where the transactions can be seen in real time.

With the latest technology today, incidents of fraud are common. It should not put an upper limit to your choices for shopping online. You as the consumer will just have to take some precautions when dealing with online shopping and credit card use. Being proactive about your financial security and checking your account transaction often can help prevent further problems of fraud or the loss of all of your money.

Skoda's New Laura hits the Indian road

Thu, 21 May 2009 06:39:47 UTC

After witnessing the huge success of new Superb in the Indian market, Skoda India has recently unveiled its all new Laura in the market which would cost you between Rs.12.67 lakh and Rs.17.15 lakh, depending upon the models. Laura marks the second launch for the auto firm in the year of 2009 after it rolled out new superb in March. The car comes with a refreshed exterior and slightly improved interior and will be available in three engines and six variants. So, those of you who were looking for some spacious and an altogether car, this is the right choice and yes, the car comes with a number of all new features.

If you are curious about the comfort features of the car, let me inform you that the new car is equipped with a 12-way electrically adjustable driver seat with memory function, heated front seats, audio controls on your steering wheel, dual zone climate control and electrically foldable external mirrors. Not believing, then keep on reading. It also promises the customers with some amazing convenience features which would leave you really surprised such as central infotainment system, multi function display and automatic front wiper among a lot of other features. The new Laura by Skoda is fully equipped with the safety and security features as well including engine immobilizer with a floating code system that keeps changing system verification code every time when you switch off the ignition, security code for central infotainment system, remote unlocking of doors, remote closing and opening of windows and remote closing of door mirrors among other features.

So, the car is really an ultimate one and yes the price is a bit high but for those who love cars, price really do not matter. The auto firm has put all efforts in the car to make it a huge success like its Superb with the latest technologies and features and for those of you who are still take my words, this one really worth your hard-earned money. The car would be available in the market in 5 different colors which are Arctic Breeze, Diamond Silver, Candy White, Cappuccino Beige and Black Magic.

What i expect from the new government?

Thu, 21 May 2009 06:32:55 UTC

Congress-led UPA government posting almost a landslide and an unexpected victory in the 15 th Lok Sabha election has raised hopes for every common man in the country. Hope seems to be very common word for the Indian middle class as it is hope that country has voted for 250 years old congress party. Last time around a fractured mandate from the citizen had slowed the pace of the economic reforms.

Now, the question arises that what are your expectation from the government? First and foremost being the realignment in the income tax slab. Profitability of the public sector entity should be increased in such a way that it stands firm in competition with the private firm. Look out for various options of employment amid difficult financial times. See that every citizen in the country has access to the government resources and employment to extent to support his/her family.

Amid the difficult financial times, different firms of the country have been slashing jobs, leaving at least a million of people jobless. Although the UPA government in the last tenure had implemented NARGA ( National Employment Guarantee Act), but the every citizens could not benefit from it.

I hope that government fulfills in terms of greater spending in the sectors like infra, industry and export, this on other hand would provide opportunities for job creation and rural employment pro grammes. Even the private sector needs to promoted as they are providing employment to a large section of the society, but the promotion should not be at the cost of the public sector. As its not going to be a good time for the private sector companies as they have already started consolidation of their products and services to face reduced demand resulting in job cuts.

Most important question remains that how will the government will be able to maintain the higher GDP rate? Its certainly going to be a uphill task for the government as export is shrinking. Indian industry is producing lesser and there is a severe slump in the demand. Cost optimisation, capital generation, financial protection like methods are need the hour and I expect to be employed in regular interval by the government. Although the Sensex reacted positively to the result, but I want the positivity to continue for the next five years. That means, upsurge.......

Indian political scenario after elections

Wed, 20 May 2009 10:54:49 UTC

So finally the things are clear after the elections results were made public and it was nothing less than a surprise for everyone- public, BJP and other parties and for the Congress itself- Congress was back in the power beating the blues with 261 seats, making a history in the last 18 years. BJP, in the leadership of Lal Krishan Advani, was looking pretty much strong and a strong contender for forming the next government, however the luck was not with the party and then there was a string of mistakes it committed during its campaign that helped the Congress indirectly. With all the current political happenenins, let's just check out a brief history of these Lok Sabha eleclection since the country got its freedom.

India witnessed its first Lok Sabha in the year of April 1952, after the first General Elections were successfully took place and the Indian National Congress (INC) came into to form the government with 245 seats with it. Here is a brief history of Lok Sabha tenures. Lok Sabha is a place in the country where all the representatives of the people chosen by them through the direct election on the basis of the adult suffrage. The maximum strength of the House in line with the Indian Constitution is 552, which is made up by election of up to 530 members to represent the States, up to 20 members to represent the Union Territories and not more than two members of the Anglo-Indian Community to be nominated by the President if he or she is of the view that community is not adequately represented in the House.

When talking about the recently concluded elections. the ruling Congress party swept 261 seats in India's mammoth national elections, defying expectations and the estimates by the political pundits. While the results are showing the clear victory for the Congress coalition , still it is in a small need to reach the magical number of the 272 seats which are required by the Indian constitution to govern alone and will require the support of other parties as well. India has been ruled by coalition governments for most of the last two decades.

With the Congress back in the government once again, all the sectors in the Indian economy are in the hope of much required help packages which includes agriculture, corporate, real estate, steel among many others. The expectations are really high and the government has to work agaisnt the current economic slowdown and the opposition parties to show their worth and coming high on the trusts and confidence of the voters.

Tips to lower your credit card interest rates

Wed, 20 May 2009 10:47:11 UTC

It is quiet possible that you may not know it but there are actually several different ways in which you can significantly lower your credit card interest rates. This is actually a very good and better option for anyone today, with the global economic crunch affecting practically each and everyone's life. So, just how to do this exactly? You can do this in three easy ways which are briefly discussed in depth below.

Firstly, you should search the market and look out for the credit cards at 0% APR interest rate. This is actually one of the first and the foremost thing that any credit card holder should do. Sadly, not too many of the people or card holders do not really take the time to search out for such credit cards, which is really unfortunate because this can be a great help for you, if you invest a lilttle time in searching for such cards. Most of the time, you will find it very easy to look out a lender that is willing to charge you 0% for a span of between 6 to 18 months. By doing so you will be able to transfer your existing credit card balance to that new credit card and you will surely bag a great deal at that! But be aware of those lenders who charge you a balance transfer fee nailed at 2% for there are indeed such lenders available in the market.

Secondly, you should always contact your credit card suppliers. If you have exercised your right to bargain in the leaf market for the cheapest possible price, then this is the exact time to master your bargaining skills again. As far as I know, all they really need is a little push. Always be a bit polite when talking to your lender and tell them that you are offered a better deal than this by another lender or its competitor and you are looking forward to take your business to them. As lenders will always want to keep its existing borrowers to themselves so they would be willing to bring down your interest rate. Now, this can be a bit tricky and depends much on your luck and convincing skills, but it is still worth a shot.

Thirdly, make sure to pay back that credit card account that charges the highest interest rate first. Yes, it is a kind of human psychology to assume that you would get a bigger deal by paying off the ones bearing the lower interest rates because you will be able to pay back more. But your out-standings with the high interest rate credit cards will continue to move up and this would eventually defeat the whole purpose in the long run. Thus, it is always advisable to pay off the one bearing the highest interest rate, so as to reduce your balance more effectively and efficiently.

These are three methods that you should exercise and you will see extremely significant results.

How to keep your credit cards safe in online transaction

Tue, 19 May 2009 07:00:15 UTC

Here are several different ways to keep your credit card information safe online:

1. Look for Verisign

2. Pay with Paypal

3. A Separate Credit Card

4. Open A Separate Bank Account

Buy Indian Products for 2years to save indian Rupees

Sun, 17 May 2009 08:58:31 UTC

I was continuously trying to find out about why indian rupees is getting affected in this recession time. Its my kind request to all indian's if everyone descides to buy indian products for another 2 years. In this way our Rupees will not be paid for importing the forign products. And we can use the indian products and help india to grow. Indian's are believed to be Brainy people and hence take an action today to show the other part of the world what can india change.

Thanks To all Indians

Konika

Lending Rates of Scheduled Commercial Banks

Sat, 16 May 2009 10:25:23 UTC

Lending rates of commercial banks were deregulated since October 1994 subject to the condition that banks have to declare their Prime Lending Rates (PLRs) for credit limit over Rs.2 lakh as approved by their Boards. For credit limit up to Rs.2 lakh, PLR (now Benchmark Prime Lending Rate) remains as the ceiling rate. Since April 2001, commercial banks were given freedom to lend at sub-BPLR rates (for credit limit of over Rs.2 lakh) to creditworthy borrowers on the lines of a transparent and objective policy approved by their Boards. Interest rates on export credit in rupee terms were rationalised by the Reserve Bank in the annual monetary and credit policy for 2001-02 by prescribing ceiling rates linked to the relevant PLRs of banks instead of earlier fixed/ceiling rates. At present, in respect of pre-shipment credit up to 180 days and post-shipment credit up to 90 days, the ceiling rate applicable is 2.5 percentage points below the relevant BPLR. In respect of pre-shipment credit beyond 180 days and up to 270 days and post-shipment credit beyond 90 days and up to 180 days, the ceiling rate was deregulated effective May 1, 2003. The Reserve Bank, vide paragraphs 59 and 66 of the Monetary and Credit Policy for 2002-03 announced on April 29, 2002, indicated its intention of collecting maximum and minimum interest rates on advances charged by banks and place the same in the public domain to enhance transparency. Accordingly, Reserve Bank is receiving actual lending rates from scheduled commercial banks (excluding RRBs) under Special Quarterly Return VI-AC. While submitting information on the maximum and minimum interest rates on rupee export credit as well as other credit, banks are advised to ignore extreme values in the lending rates (up to 5 per cent of advances on either side). Further, banks are also advised to furnish the range of interest rates in which large value of business (say, 60 per cent or more) is contracted so that RBI can monitor the general trend in lending rate charged by banks in India. The processed data is available on the RBI web-site and updated every quarter. The data since quarters ended June and September 2002 are now available on the website. Table 1 provides the bank-group wise consolidated data on the range of actual lending rates of credit above Rs. 2 lakh other than export credit. Table 2 presents bank-group wise range of median interest rates on credit above Rs.2 lakh other than export credit. Table 3 presents bank-group wise range of actual lending rates and Table 4 provides bank-group wise median interest rates on export credit. Table 5 presents lending rates of individual banks on export credit as well as other credit above Rs.2 lakh under demand and term loans. While presenting data for individual banks, the BPLR represents the range of PLRs of banks on various products and tenors. The median range is arrived at separately as the range of medians of all minimum BPLRs of banks and all maximum BPLRs.

RBI seeks Comments on Draft Guidelines on Stripping/ Reconstitution of Government Securities

Sat, 16 May 2009 10:17:00 UTC

The Reserve Bank of India has today placed on its website "Draft Guidelines on Stripping/Reconstitution of Government Securities" for comments/views. Comments/views on the draft guidelines may be sent by post to the Chief General Manager, Internal Debt Management Department, Reserve Bank of India, Mumbai 400001 or can be emailed on or before May 29, 2009. The Reserve Bank of India will finalise and issue the guidelines after examining the views/feedback received.

Survey of Professional Forecasters: Results of the Seventh Round (Q4:2008-09)

Sat, 16 May 2009 10:15:26 UTC

The Reserve Bank of India today released on its website the results of quarterly Survey of Professional Forecasters on major macroeconomic indicators of medium term economic developments. The Reserve Bank has been conducting the survey on a quarterly basis from the second quarter ended September 2007. Done through a questionnaire responded by 17 forecasters who participated in this round, the survey covered component-wise detailed forecasts of GDP growth, inflation, savings, capital formation, consumption expenditure, export, import, interest rates, money supply, credit growth, stock market movements, corporate profit, etc. The Reserve Bank will disseminate the survey results through its website on a regular basis. The results of the survey represent views of the respondent forecasters and in no way reflect the views or forecasts of the Reserve Bank of India.

Terrorism insurance in India

Fri, 15 May 2009 07:25:02 UTC

Terrorism insurance is referred to that kind of insurance which is purchased by the business or property owners from the insurance firms to cover the potential losses and other liabilities that might be caused due to the terrorist activities. With the margin of profits and huge potential in the sector, a number of firms are trying their hands into the field.

Insurance companies in the country are using an approach that is quite similar to that used in the case of natural catastrophe risks. A recently released report suggested that in this case where demand is greater than the supply for the terrorism coverage that a short-term solution is possible. It is a mix of government and private resource to make easy the transition. In this situation, the government would serve two functions which would be to establish rules to overcome the capacity shortage and to be the insurer of last resort.

India is new to the terrorism insurance plans, however in the the United States, the insurance market offers a health coverage to the most of the large companies which ask for it in their polices. The price of the policy is made out on the basis of the place where where the clients are residing and how much limit they are buying . The craze for the insurance loans have picked up the pace in the recent times in the wake of the terrorists attack which took place in Mumbai, Delhi, Hyderabad and in the southern states of the country.

There is no doubt about the fact that terrorism insurance plan is providing a great sense of releif and comfort for the business owners and property holders who are operating in the region where such activities take place on regulare intervals.

Credit cards: You need it or not

Fri, 15 May 2009 07:21:04 UTC

According to me, credit card in todays world has become a status symbol, you hardly see a place in malls or market where credit cards are not accepted now a days. As the world is getting more and more insecure place to live, where each and every city reports huge cases of frauds and thefts, credit cards comes very handy, as they enables you to carry a small magnetic card in place of hard cash.

Credit cards has made the life easier, simpler and more convenient, as they provides you with other major facilities also, like life cover, medi-claim along with some special discounts and other uncountable offers. Credit limits on credit cards depends on your total earnings and the assets you have. There are different types of credit cards available from different creditors across the world. Basically they are divided into 3 categories namely, Visa, Master Card and Amex. Various participating banks issues these cards to end-users. The most popular of them are Visa and Master Card and the almost have an equal market share. Amex has a smaller market in India and is issued via very small number of banks at present.

The credit card institution offers various different varieties of credit cards, depending upon the needs of individual or corporate. There is no compulsion that they should offer same services as offered by credit cards from other bank. For example, a Bank can offer A titanium card with credit limit up to 20 lakhs, or a Gold card or simple standard card.

Credit cards also serves as status symbol in today's world, every time you go out for lunch or dinner or in some party or to some amusement parks, all you need to carry a credit card. Credit cards flaunt your class and style and is very handy when you run out of money. But always keep this in mind that you use it when you need it, as it increases your credit. Some people use it unnecessarily forgetting the point that they have to pay it back some day. If used wisely, credit cards are something you can count on anytime, any day.

But on the other hand it is one of the dangerous thing ever made if not used properly or if fall in wrong hands. If you are not mature enough to use it wisely, or you do extra spending with the credit card, forgetting the fact that you have to pay it back to the bank with in a given interval of time or you will have to pay it back with heavy interest rate or if it is stolen or your card has been compromised by any intruder, that can lead you into deep trouble ending in credit of millions of rupees.

This is basically good and bad, means everything has its own pros and cons, so it is advisable to use it wisely and in need. Don't use it unnecessarily.

2009 - Best year for Android Growth

Wed, 13 May 2009 06:29:43 UTC

According to Strategy Analytics shipment for the phones powered by Android platform is expected to increase by 900%. The main force behind this rapid growth is the support Android has received from the operators, vendors and mobile game developers.

Tom Kang, Senior Analyst at Strategy Analytics Said, "we forcast global android smartphone shipments to grow an impressive 900 percent annualy during 2009. The Android mobile operating system from Google gained early traction in the United States in the second half of 2008 and it is gradually spreading its presence into Europe and Asia during 2009. Androind is expanding from a low base and it is consequently outgrowing the iPhone OS from Apple, which we estimate wil grow at a relatively lower 79 percent annually in 2009."

Neil Mawston, Director at Strategy Analytics added, "Android has fast been winning healthy support among operators, vendors and developers. A relatively low cost licensing model, its semi-open-soucre structure and Google's support for cloud services have encouraged companies such as HTC, Motorola, Samsung, T-mobile, Vodafone and others to support the Android operating system. Android is now in a good position to become a top-tier player in smartphones over over the next two to three years."

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Barack Obama and his decisions

Mon, 11 May 2009 07:13:59 UTC

Barack Obama was born in the year of 1961 and is presently holding the post of President of the United States, being the 44^th president of the country. From 2005 to 2008, he was working as a junior United States Senator from Illinois when he resigned after his elections to the presidency. He had served three terms from 1997 to 2004 in the Illinois Senate and after a failed bid for a seat in the US House of Representatives in the year of 2000, he finally came into the limelights in the year of 2004 when he won from a crowded field and then followed his keynote address at the Democratic National Convention in the same year. Finally, he was elected to the U.S. Senate in 2004 by the biggest margin in the history of Illinois.

His early life is equally interesting as he born to parents who made a love marriage which took place on February 1961. His parents started living separately when he was just two years old and then they fianlly divorced in the year of 1964. He saw many ups and downs in his childhood.

After his high school, he enrolled for Occidental College and later moved to Columbia University in New York and graduated with a B.A. In the year of 1983.

He started his working career with the Business International Corporation where he worked for one year and then moved to New York Public Interest Research Group. After four years in New York City, Obama went to Chicago, where he was worked as a director of the Developing Communities Project as well.

After facing a lot of struggles before and after the elections, he finally came into the power and witnessed a really testing time ahead of him. He found that the U.S. economy is reeling under the economic recession and everything has been going wrong for the economy. Biggest banks of the country have failed, auto firms such as General Motors and Chrysler among others have either claimed bankruptcy or are close to it, IT firms are down with no work and thousands and lakhs of employees are thrown out of the companies.

In such a situation, Obama has came up with a number of measures to revive and boost the US economy, however for the developing countries like India, things would get worst than before. One such measure suggested by the president is to levy taxes on the firms which would outsource their work to other countries and this would definitely result in the job cuttings and unemployment in India. He must do things to improve the state of his country but this should not happen at the cost of others.

Amancio Ortega Gaona – a story of rags to riches

Fri, 08 May 2009 07:14:34 UTC

Born in Spain on March 28, 1936, Amancio Ortega Gaona created a story of rags to riches with his hard work and determination. His father was a railway worker and at the ago of 14, this man has nothing with him except dreams, dreams which he wanted to turn into reality. He started his journey working petty jobs in a number of shirt stores in A Coruna, Galicia.

Finally he set out to make his dreams a reality and founded Confecciones Goa in the year of 1963 which produced bathrobes. Things went into his way and in 1975, he set up his first store which touched the sky of popularity and soon turned into a popular chain of fashion stores which is known as Zara.

At present, he holds the office as a Chairman of the Inditex Group with nearly 59.29 per cent stake of the Inditex group which has a number of brands under it such as Zara, Oysho, Kiddy's Class, Tempe among others and employs over 14,000 people. He floats a wealth of $18.3 billion.

However, success and money could not change this man and his simplicity as he always prefers not to be in limelight. Instead of mansions and big villas, he prefers a modest apartment living with his wife and likes to be in his blue jeans most of the time. Even now, he takes part in the production and other processes of the firm. Till now, he never appeared for any interview and in the year of 2001 when he made a public appearance before floating his firm on the stock market, the news made big headlines in the Spanish financial press. Except this he always preferred secrecy and this was the thing that made possible the roll out of certain books such as Amancio Ortega: DE CERO A ZARA which means from a zero to Zara.

Bulls and Bears in stock market

Wed, 06 May 2009 07:13:59 UTC

Many of the times a came across the situation when people ask me what does bulls and bear stands for in terms of stock market. So I thought to explain it to all you people through my blog. Well lets start with the basics.

The first thing you should know about is Market Trend. Market Trend is basically the direction in which a financial market is approaching. Market trends can further be divided into primary trends, secondary trends (short-term), and secular trends (long-term). Market prices follow a random walk model according to which the prices of the stock market cannot be predicted. Random walk theory therefore clarifies that it is not possible to exceed the general market using traditional evaluations of its fundamentals or with the use technical analysis.

Market trends are described as confirmed movements in market prices over a period of time. The terms bull market and bear market describes upward and downward motions respectively and can be used to describe either the market as a whole. The expressions bullish and bearish can also be taken synonymous to optimistic and pessimistic respectively.

A bull market inclines towards increasing the investor's confidence, motivating investors to buy in anticipation of future price increases and future capital gains. The largest group of market participants are also referred to, metaphorically, as a herd, in describing financial market behavior. This is especially applicable to participants in bull markets as the bulls are herding animals. A bull market is also termed as a bull run sometimes. Dow theory tries to describe the character of these market movements.

The BSE Index Sensex was in a bull run for about five years from April 2003 to January 2008 as it rose from 2,900 points to 21,000 points. Another markable and recent bull market was in the 1990's when the U.S. and other overseas financial markets rise up rapidly.

A bear market is a steady downfall in the stock market over a period of time. It is elaborated as being accompanied by widespread pessimism. Investors seeking out further losses in the stock market are often motivated to sell, with negative sentiment feeding on itself in a savage circle. The most famous bear market in history was the wall street crash in 1929, lasting more than 3 years, that marked the era of great depression. A low-level, long-term bear market started from about 1973 to 1982, encompassing the inflation of U.S. economy, the 1970;s energy crisis, and the 1980's high unemployment. Becaucse of the current economic conditions, be it the steady decline in value of the market or the high unemployment rate, the United States of America is presently in a bear market. High ranking economic forecasters and upper end public officials have termed the America's current situation as a recession.

Prices always fluctuate constantly on the open market. Just take the example of a bear stock market, it is not comprise of a simple decline, but a continuous drop in the prices of the majority of stocks over a definite period of time.

The bull and the bear are both strong and big animals but still f stock market and economy, so here is your answer. When a bull fights it rears its head UPWARD, so when a market is going UP they refer it as a BULL market, on the other hand, when a bear fights it swats its paws DOWNWARD, so, whenever a market is falling or going DOWN they refer it as a BEAR market.

Lakshmi Mittal : a man with grit and determination

Tue, 05 May 2009 06:26:34 UTC

L.N. Mittal, everybody knows the name I guess, is an Indian who spent his initial years in the country and then set himself with his business in the United Kingdom. Chairman and CEO of ArcelorMittal, world's largest steel company, he also works as a non-executive director of Goldman Sachs, ICICI bank and EADS. Presently, he is the eighth richest person on the earth and the richest in the U.K with at an estimated personal wealth of $19.3 billion. So don't you guys want to upgrade your knowledge a bit about this world famous business, his childhood, career journey, family among other interesting facts.

To begin with, this rich industrialist was born on 15 June, 1950 in Rajasthan, India and spent his initial days with his family in a modest house which was built by his grandfather. His father somehow started an Oil mill in Uttar Pradesh and then the entire family finally shifted to Calcutta where his father started working in a steel firm as a partner and made money. By this time, Laxmi Niwas passed his graduation from St. Xavier College in Calcutta in the year of 1969. He has married with Usha who was the daughter of a reputed moneylender.

He started his career journey with his family business and then set out for an international foray which he started with the take over of a run-down plant in Indonesia. Soon he had some differences with his family and he set out on his own and started making his marks all over the globe.

In the year of 2008, as per the Forbes Magazine, he was declared o be the fourth riches man in the world and the richest in the Asia. He owns a controlling majority stake in ArcelorMittal which is the world's largest steel company. You would be surprised to know that his residence at Kensington Palace Gardens was bought from Formula One boss Bernie Ecclestone for a whopping amount of $128 million.

But life has never been a bed for roses for this person as he faces a number of allegations from different quarters of society. His own workers have raised their voices against him. In 2004, nearly 23 miners lost their lives in explosions in his mines in Kazakhstan which took place due to faulty gas detectors. In the same year, he paid himself a bonus amounting GB£1.1bn from the company's funds soon after taking over a steel firm ISG. He also witnessed a controversy in the year of 2002 when his link with the UK prime minister Tony Blair was exposed.

However, this business minded man has a soft heart as well which showed when he decided to set up Mittal Champions Trust with an amount of $9 million to extend support 10 Indian athletes. Recently in the year of 2008, he honored Abhinav Bindra with a prize money of Rs.1.5 crore for securing first individual Olympic gold medal in shooting for the country.

Honda rolls out all new Jazz

Mon, 04 May 2009 06:50:36 UTC

So you guys were looking for some different car, actually totally different car and found yourself with no option at all, then your search might end with Honda's latest Jazz which would hit the Indian roads on June 10, this year and would be equipped with a specially developed 1200 cc VTEC petrol engine. Other features which you would get with this new Jazz model includes ABS (anti-lock braking system), airbag and G-CON Technology which would enable you with a protection shield which would provide you a survival zone in any mishappenings while driving. It also promises riding comfort and safety measures for its users like sedans, with fuel-efficiency. The car company had already showcase the car as a concept at the Auto Expo in New Delhi in the year of 2008.

However, its price might discourage you a bit as it will make a Rs.7 lakh hole in your pocket (ex-showroom Delhi). Till now, it was Skoda's Fabia which was the most expensive compact car in the Indian auto market costing around Rs.4.9 lakh tag for the petrol version and Rs.5.8 lakh on diesel version and the auto company was selling only a few hundreds units monthly on an average basis. With Rs.7 lakh tag, Jazz would become the most expensive hatchback manufactured in India, thus leaving far behind other popular car models such as Hyundai i20 and Skoda Fabia, however it would inevitably face neck to neck competition from a number of sedan models.

And this is the reason, the auto maker is expecting a modest sales in the future, considering the high price it entails and the tough competition it would have to face from sedans like Maruti Suzuki's Dzire which is available in the Indian market both in petrol and diesel versions with a price tag of less than Rs.7 lakh. Ford Ikon and Ford Fiesta( both priced below Rs.7 lakh) from Tata Motors are also likely to increase the difficulties for Jazz .

Last but not the least, for you guys who do not want to fall into the jargon of facts and all the stuff I wrote for you, the only thing I want to tell you that the car would really be different and worth the money you would put into it.

Dhirubhai Ambani- a man of vision

Fri, 01 May 2009 07:10:08 UTC

Decades back, a man called Dhirubhai Ambani saw a dream of creating a business empire at a time when the market was full of large financial institutions. That dream realized in the due course of time and people now see his dreams in the form of Reliance. Relinace and Dhirubhai Ambani- these names come in the mind one after another. The visionary was born on 28^th December 1932, in Chorwad, Gujarat. His father was a schoolteacher. Dhirubhai started his business life with the sale of fried snacks to pilgrims, then worked as a clerk with a company and later on sent to manage an oil filling station at Aden by his family. He also worked for a short span of time in Dubai. It was probably the year of 1958, when he returned to the India with around Rs.50,000 in his hands and then went on to set up a textile trading firm. And this proved to be the first step towards creation of Reliance.

Soon he started trying his hands in various other sectors as well such as petrochemicals, telecommunications and information technology, power, energy, finance among others. This was the time period when the Indian market was dominated by few large financial institutions but luck was with Dhirubhai and hundreds and thousands of retail investors showed their faith in the new firm and things started going well for him.

Dhirubhai Ambani was honored with the title of 'The Indian Entrepreneur of the 20^th century by the Federation of Indian Chambers of Commerce and Industry. A poll conducted by a national newspaper made him as the greatest creator of wealth in the 20^th century. He received a number of other awards as well in his lifetime.

The first office of Reliance was set up in Narshinathan Street in Masjid Bunder in a small place with a telephone, table and three chairs. The family was managed in a one room flat. With all the efforts and luck on his side, he set up his first textile mill in 1966 and he branded his products as Vimal. In a short span of time, Vimal became a household name everywhere.

However, his success story was not with big setbacks and it started for Reliance as well when Ramnath Goenka of Indian Express used his powers against the company but the ordinary folks did not losse their faith in the company. During V.P.Singh government, his license for importing Purified Terephthalic Acid was cancelled which was a major setback for Dheerubhai. He had his first stroke which paralyzed him, however, he could not face the second one. He died in the year of 2002 making Relinace a dream firm.

Reliance Industries Limited is truelly a product of the dreams and labors of Dhirubha Ambani or Dhirajlal Hirachand Ambani.

GM and Chrysler face disaster

Thu, 30 Apr 2009 07:25:24 UTC

Heard about General Motors and the tough situations it is facing presently! Well let's go back a little in the history and get to know a bit about the auto giant and how it plunged into red. To begin with, General Motors, a U.S based automajor, was a leader in the world auto sector which was founded in the year of 1908 with its headquarters in Detroit, Michigan. It was ranked as the world's second largest automaker after Toyota in line with the 2008 global unit sales. And you would be amazed to know that the ailing automaker who is now running against the government deadline and very close to bankruptcy, was once the global sales leader for the 77 consecutive calender years from the year of 1931 to 2007.

The auto firm is involved in the manufacturing of cars and trucks in around 34 nations where it was employing around 2,44,500 employees globally and was doing its business in over 140 countries all over the globe. In the year of 2008, the automaker sold around 8.35 million cars and trucks all over the globe under the brand name of GMC, Chevrolet, Holden, Hummer, Opel, Pontiac, Saab, Saturn among others.

But the on-going economic meltdown hit the firm so severely that presently it is finding itself in reins and is surviving on the US government financial aid and is probably very close to bankruptcy. The recession has resulted in the low demand for the cars all over the globe and leaving the firm in acute financial crisis. It created jitters around the financial world when it came into public and announced its plans to lay-off around 47,000 employees globally and closing some of its plants in order to make the firm more leaner and profitable. It would help the firm in remaining competitive in the face of economic slump.

General Motors has recently came out with a new restructuring plan to cut more jobs and put an end to its Pontiac brand and additional plants so as to keep the firm viable. Pontiac, its major brand, is scheduled to be phased out by the end of 2010. there would be other brands as well which would be phased out in a very systematic manner to make it viable for further government bailout. If things do not go in the right direction for the auto firm, GM would have to file bankruptcy which would again result in the major restructuring in the firm and its operation. True, the recession left the company with no place to run and put it in a deep trouble.

Satyam-----every day new discoveries

Wed, 29 Apr 2009 07:36:00 UTC

Satyam Computers was once a leading global business and information technology firm and a star in the Indian IT industry. And then came the confession day when the whole IT industry all over the globe felt the jitters and the jitters were really hard. The founder of the company, B.Ramalinga Raju came in the limelight when he confessed in the public that he overslated the company's accounts and admitted a Rs.7,000 crore fraud. Shares of the company in the share market turned into useless papers. Since then every day, the interrogation agencies kept opening a new layer about the scam hit software company.

First things first, it turned out that the numbers of the employees of the company were knowingly increased on papers whereas in actual the numbers were much less. Ramalinga Raju was counting on the salaries being drawn out of the banks in the name of these fictitious employees. He allegedly directed the money into Maytas companies which were again run by his own sons. He manipulated the company's accounts in many ways and then he also tried to take over Maytas in a bid to hide his fraud, but strong opposition from the shareholders forced him to stop his plan.

Seeing no place to hide for, he finally confessed his fraud in a letter and took the entire blame on himself, however later in the case the police took into custody other top management officials as well who were supposedly involved in the entire scam. At present he is in jail, leaving the future of the company nowhere, however the central government came into action at the right time and appointed its own selected board of members. However, for the time being the company is in a good shape after the recent takeover by Tech Mahindra.

Recession blues soon to get over

Wed, 29 Apr 2009 07:26:43 UTC

As we all know the world is going through a very tough time of global economic crunch and not even a single country is there which is not facing the heat of the same. This global economic downturn came a year ago and affected almost every sector. It is like that nightmare which is continuing to bother us from past one year and we can do nothing about it. Thousands of industries closed down, millions and millions of people were laid off, no jobs available for freshers in the market etc. are the few things this downturn threw on us. Everybody is hating this thing but can do nothing about it.

This global economic crunch started in US and slowly multiplied to cover the grab the whole world in its jaw. After every few days we hear a news about a certain bank filing its bankruptcy. The headlines of the news papers are filled with falling industrial growth, falling share market etc. For some people it has arrived a long time back, but for some it haven't occurred yet as the later seems to be fully secured during this time of depression. Okay, we can understand, some people are out of the blues, they are not affected much by this recession, but what about others?

A couple of months ago, there were not a single job available in the market for freshers, the markets were so crunched that even experienced people were laid off and they were struggling to get another job, cost cutting was there at a high scale, no bonuses were given to any of the deserving employee.

But now, as we can see, the things are changing, market is getting better day by day. The companies started recruiting freshers. Even the government is providing full support and aid to banks so that they can call off their bankruptcy and they are even helping private sector so that they can recover from this hard to deal situation.

This gives us hope that the blues of recession will soon be over and we will again live a tension free life. The people in depression because of recession, this is a very good news to you. The only advice from me to all you people out there, try to give your best in each and everything, rest leave it on God. Hope for the best and prepare for the worst.

Travel Insurance-An introduction

Wed, 29 Apr 2009 06:53:15 UTC

In today's world where there is nothing for certain and conditions keep changing, it is the insurance which comes as a safety cover for the people to guard them against the possible risks or losses. In the recent time, there has been a spurt in the number of firms in the insurance sector and are coming out with new and more helpful policies for the people. One such policy is Travel insurance wherein you enter into an agreement with the insurance company to pay a fixed amount of premiums on a regular intervals and in return, you get a whole range of benefits. With the help of this insurance policy, you can insure yourself from the future mishaps which might happen with you during your time of travel.

Road accidents have become a common thing in today's atmosphere and this is where travel insurance comes to your help if you happened to be a victim of such an accident while traveling. When injured or seriously wounded, all the expenses relating to medical and hospitalization are borne by the insurance company without any delay on behalf of the insured person. You don't feel helpless when you see a hefty medical bill because you had insured yourself earlier with the travel insurance.

Most tourists usually forget that insurance is an important requirement while visiting any country all over the globe and one can easily claim the insurance amount in case of an emergency. It helps you in relieving you from the tension of financial crunch in times of emergency when you need the money most. And then there are certain things that you need to take care of when traveling in or out of the country, the most important being checking your travel insurance papers.

Last but not the least, if you now happened to be a person who has not yet taken travel insurance from any insurance company and thinking about taking the same, it won't be a very difficult task for you. You only need to browse the internet to find out the various insurance companies such as LIC, Max, among others which are providing health insurance. There are even many insurance firms which are providing the insurance policies through on-line medium and what better thing you could ask. If you are not an internet savvy, even then it won't be much difficult for you to locate an insurance agent who will tell you all the things about the policy which the companies are offering. So better go on traveling with travel insurance papers in your wallet.

Health insurance is the right choice

Tue, 28 Apr 2009 07:20:35 UTC

In today's time when one is not sure about what is going to take place in the next moment, won't it be a better option to go for a health insurance that pays off all the medical expenses in the time when you need money urgently. In simple terms, by taking a health insurance with any insurance firm, you enter into an agreement on papers to make a regular payment to the company and in return, the company agrees to reimburse the health care costs of the insured person. What you get, well the health insurance plan protects you and your family against any health illness and expenses in case of any unforeseen event.

There are a number of health insurance plans in the market which you can avail depending on your personal needs such as group health plans, worker's plans and individual plans. These insurance policies would help you and your family members against any unforeseen medical expenses. Now the insurance firms such as LIC, Max New York Life Insurance among others are coming up with new and more helpful features such as family package, lower monthly payment for the teenagers and discount on the insurance premium. And these premiums would help you and show their worth when you would be required to pay heavy medical bills in case of sudden illness or medical emergency.

Economic recession- blessings in disguise

Tue, 28 Apr 2009 06:55:26 UTC

Today even a child knows about the on-going recession and its disastrous effects on the global economy. It hit every country and every sector resulting in low demand, low production and job cuttings. IT, steel and auto are some of the sectors which have been severely hit by the slowdown forcing the companies to shed lakhs of their employees due to lack of projects on hand. A number of well established firms resorted to government aid and some of them went into bankruptcy. It resulted in a condition of chaos everywhere.

Auto sector saw a sharp decline in the demand for vehicles with customers tighten their purse strings. General Motors, Chrysler were some of the auto companies who shed nearly 50,000 jobs alone and are surviving on the government loans, and now they are close to bankruptcy. Other companies post losses for the year, some of them for the first time in their history.

IT sector was equally affected due to the meltdown and many IT companies such as Infosys, Wipro, TCS among others shed its employees due to the lack of projects. Microsoft, Yahoo, Google were other leading companies which shed their employees in the face of economic recession.

Besides auto and IT sector, steel industry also witnessed a fall in the demand of steel and were forced to close some of their plants and slow the pace of production to adjust the falling demand due to the meltdown.

It is not as if it is the first such recession, the world had seen several of them before as well, the popular being the one which hit the world during 1929-30s, however that one was mainly confined to the western world only. But the current slowdown has hit every country and every industry and has led to job cuts all over the globe.

In Indian context- As far as Indian economy is concerned, recession has hit it as well. There have been lay offs, shutting down and low GDP, but when compared to the rest of the world, the effects have been not so hard. There has been no case of massive lay offs, no case of bankruptcy and not any condition of chaos. Inflation rate moving towards zero had been a worry for some time but now economists even seem not much interested in the falling inflation rate.

LIC: Things you should know about

Mon, 27 Apr 2009 06:51:10 UTC

Life Insurance Corporation of India or LIC as we popularly call it, it has been a long journey for around 52 years for the company and now at present in 2009, it has over 220 million lives which are part of the company. It always went by the objective of spreading Life Insurance all over and in particular to the rural areas of the country and maximizing the mobilization of its customers' savings by making insurance linked savings attractive.

The company operates all across the nation. It has its corporate office in Mumbai, eight zonal offices, nearly 2048 branch offices, 100 divisional offices and around 10,02,149 agents with it. It has a range of products to offer to its customers such as insurance plans, pension plans, unit plans, special plans and group scheme.When compared with other private insurance firms, LIC enjoys the trust of the people, being the oldest in the business.

With the entry of new firms in the sector, it has improved on its existing products and services and has introduced an array of other facilities as well to remain competitive and ahead of its competitors. Last but not the least, it enjoys the government support as well, so in case, the company fails, government is there to support the institute and return back the money.

Indian IT firs to hire foreigners

Mon, 27 Apr 2009 06:28:41 UTC

Braking News guys.! Indian IT firms are now looking forward to hire foreigner employees to increase there headcounts, knowing the fact that Indian IT engineers are facing tough time. Most of the freshers are sitting idle at home, waiting in anticipation for a favorable response from IT industries. A t this time our domestic IT industries should be focused on employing more and more Indian aspirants rather than going for foreigners to do their job.

The excuse which the Indian IT companies are giving is that they don't want to be protectionist nor they wanna promote it. But who will tell them the Indian aspirants needs the job more than the foreigners. If these entities won't provide them the opportunities it will darken the future of those guys.

I just like to convey this message to the Indian IT companies, help thy neighbours but help yourself first. Your own country mens are facing the darkness of recession and they are going out to lighten others career.

What about rainy day

Fri, 24 Apr 2009 07:22:42 UTC

As we know whole world is going through the tough time of global economic crunch, how are different countries dealing with it? Does anyone heard about rainy day? Ok, let me explain it to you. Rainy day refers to a time of financial needs in future. Each and every country is doing something about it, but what about our own country. Are we ready to face the rainy day? The answer is NO.

The finance minister should play an important role to make people of our country aware of this fact. Even government should keep a check on spending as it is quickly consuming up a so called rainy-day funds. Government should not buy any defence material or in other words to lower its military spendings along with other investments. People should also follow the same rule so that you don't stand begging on the rainy day.

Bank Loans--------how good, how bad

Thu, 23 Apr 2009 07:21:51 UTC

You must have received the calls from the call centres of the banks whereby they ask you for taking loans and you instantly press the button, saying NO and please do not call again. The general perception is not in very much favor of loans, be it from any source. But every coin has two faces and the same is the case with these bank loans- think about a person who want to buy a house for him and his family but earns a moderate income and has no deposits with him, whatsoever; what about a man who has the talent and wish to study further in a professional institute but has no money; and what about a person who need the money instantly to meet the urgent requirements he or she has- these are the general situations which normally every person faces in his or her life. Here comes the banks which play vital role in providing solutions.

Banks provide a series of loans which include Personal loans, Home loans, Car loans, Education loans among others. Depending upon the situation one can apply for these loans which are easily provided by the banks provided you satisfy the conditions laid down by the banks. The most important thing the banks always look for while providing loans is the repayment capacity of the person besides other documents.

One can opt for the Personal loan if the requirement is urgent and he or she has no collateral security against the loan amount, however, you will be charged with a bit higher rate of interest in this case. Home loans are for realizing your dreams of buying a house of your own and one can get the loans at lower rate of interest as well since the government banks provide these loans at a lower rate than their private counterparts. And if you happened to be a person who is dreaming about a car even then bank provides you loan for the same and yes last, but not the least, it is the eduction loans provided by a number of banks to the deserving students because of which they pursue higher education from the top institutes, even from the universities abroad.

Bank loans provide a whole lot of benefits but yes, before you go out for a loan, one must keep in mind certain things such as the repayment of loans and the interest rates. One must be sure enough about his sources of income to pay the EMIs on time.

Inflation: an introduction and importance

Tue, 21 Apr 2009 07:06:22 UTC

Now-a-days, we are listening and watching debates on TV news channels about Inflation rate---how it is moving down and heading towards a possible zero and then we start thinking about the ever increasing rise in the essential commodities. We have a presumption that with the dropping of the inflation rate, market prices also come down and when we see that even with the drop in the inflation there is no fall in the prices, we get desperate and start thinking that if the inflation rate does not reflect the ground reality, what other purpose it serves then.

So here lies the answers to all your questions--- The inflation rate which we read or see on the net is actually based on the wholesale price index and as the name suggests, is worked on the wholesale price s. Now that does not show its influence when we look at the things from the customer's point of view as we are basically concerned with the retail prices on which we buy the products from the market.

However, the fall in the inflation is important for us since it guarantees that the rise in the prices is taking place on a moderate basis. So, as such there is no direct relationship between inflation rate and prices.

Fixed Deposits in banks

Mon, 20 Apr 2009 07:18:38 UTC

Everybody seems to know about banking accounts- current account, savings account and a whole lot of other accounts which a bank offers to its customers, but still there is a lot of things which most of the customers do not know, is the fixed deposits facility. It is somewhat like accounts where you put your money but after this the way separates. We generally think of share market when it comest to earn profits or dividends but they carry a lot of risk as well with them, in that case it is the fixed deposits where you can deposits your money as well as earn a higher rate of interests.

Well to start with, fixed deposits are also known as Term Deposits where in you deposit your money in the financial institute for a fixed period of time with a fixed rate of interest. The rate of interest solely depends on the period for which you keep your money in to the bank.

The time span for which you can deposit your money into the bank ranges from 7 days to 10 years and the interest is compounded annually and is added to the principal amount, wherein you can start with a minimum of Rs.1,000 without any upper limit. Some of the benefits which one gets after opening a fixed deposit with the bank, one becomes eligible for availing loans and overdraft services. The only thing which you find a bit uncomfortable is that you will not be supposed to draw your amount its maturity and in case, you decide to withdraw your money, you will be subjected to some penalty by the bank.

Satyam saga- -- from then to now

Thu, 16 Apr 2009 07:12:45 UTC

Before I take you deep into the details, let me first introduce you to Satyam Computers in a proper way, well, it all began in 1987 when B Ramalinga Raju founded the company. With every passing day, it started expanding its size and operations in offering information technology services spanning various sectors. The IT company is even listed on the New York Stock Exchange and Euronext. It houses around 40,000 IT professionals and serves over 654 global companies.

Things were going really fine until January this year when the founder of the company( Ramalinga Raju) came out in the public accepting that the company's profits had been overstated for the last several years and accounts have been tampered with. He admitted that to hide the things from being exposed, he even tried to acquire two infrastructure companies named Maytas (you noticed the spellings are exactly the opposite of Satyam) being run by his own sons. But due to a highly negative response from the shareholders, he could not get success in his plans and finally decided to accept his involvement in the entire fraud. The entire world, and in particular Indian IT sector, could not believe on the things.

Ramalinga Raju along with the top officials were caught and questioned by the police and SEBI and are still in the custody. Since then, many developments have taken place at a regular interval amazing the IT industries as a whole.

Credit cards in this recession time

Wed, 15 Apr 2009 06:34:43 UTC

Do you think we should do more expenditure via our credit cards, when we very well know that the conditions are not the same as they were couple of years ago. The credit card companies are throwing away evasive offers to attract more and more people. Even the people (middle income group and lower income group) are getting attracted towards them, forgetting the fact that at some point of time they have to revert all the money they have used, back to the credit card providers.

Some people are smart enough to stay away from the web of these credit card providers but other people take it as convenience and spend more and more as they don't have to pay hard cash at the movement. This is somewhat right that the people are using it for convenience, but the trouble comes when people starts to misuse the credit cards and fail to revert the money in the time provided and ended by paying heavy interest on the little sum they took.

People should think before they use their credit cards and should use it wisely when needed. The current scenario is not appropiate to misuse the money. Money is earned after plenty of hardwork, respect it and use it wisely.

UK Insurance Market

Mon, 13 Apr 2009 04:55:36 UTC

UK Insurance

There are many kinds of insurance covers available in UK insurance market. You can get insurance for almost any kind of situation where you may have some monetary risk. These insurance types include life insurance, health insurance, home insurance, pet insurance, motor insurance, travel insurance and the commercial insurance.

Life Insurance

If you have dependents, a life insurance cover is very crucial for you and your family. It gives peace of mind as what will happen to your beloved ones after you die. This kind of cover provides for lump sum to be paid to the beneficiary of the policy after the death of the insured person. There are term policies which offer insurance for a fixed period and others are whole life insurance policies. For whole life insurance policies, premiums are high as Insurer Company is liable to pay whenever you die unlike term policies.

Home Insurance

Home insurance policy offers cover for your house against any damage like fire, flooding or other such kind of things.

Content Insurance provides cover for contents of home against any thing like fire, damage, flooding and theft. It is always prudent to have home insurance.

Health insurance

Though in UK, every citizen is entitled to avail the medical services but it is getting difficult to get timely treatment due to long wait at NHS.

Health Insurance provides you cover to have treatment at private hospitals at the time you choose and by the specialist you want. Health cover can be extended to optical and dental care. Before taking up Health Insurance, you must understand that this is not an alternative to NHS as private hospitals are not able to provide services in certain emergency circumstances. Also, if you have any pre-existing condition, it may become difficult for you to get health insurance in UK.

Car Insurance

There are two kinds of car insurances. Third Party Insurance is compulsory by UK laws. This kind of cover provides for the damage you have done to other’s vehicle or occupants in it for which you are liable in an accident. But in this case damage to your car is not covered.

Another kind of car insurance called Comprehensive cover provides for the current market value of your car against any damage or loss due to accident, fire or theft.

Income Protection Insurance

This kind of insurance protects you against situation in which you fall ill for long time and you loose your income.

UK insurance market is very wide and you can approach numerous private insurance companies operating in UK which provide these financial services. These companies help you choose the right insurance policy once you consult them for your insurance needs. Most of the companies provide excellent services with entire focus on the client. You should select a company which is not attached to a particular insurance company so that you can get unbiased advice.

Let us see different types of UK insurance.

Why interest rates affect the stock market

Thu, 09 Apr 2009 12:08:21 UTC

In the days when interest rate changes were announced without warning, you could see some of the most dramatic share prices movements of the year immediately following them. Now that they are generally anticipated / leaked, the movement is much more measured. The question however, remains why do interest rates have such a big impact on the stock market. There are several reasons why the inverse relationship between interest rates and stock prices holds. The three main ones are associated with the impact rates have on; macroeconomic conditions, the attractiveness of equity as an assset class and the cost of transacting. Macroeconomic Low interest rates are good for business, it makes it cheaper to borrow funds, invest in new projects and expand supply. Low interest rates also increases consumption as debt finance becomes more paletable and people’s disposable income rises as existing interest payments are reduced. A reduction in interest rates therefore increases revenue expectations for most businesses. Assuming a relatively benign inflationary enivronment, this increases expected earnings, pushing up company valuations and stock prices. Naturally an increase in rates has the opposite effect by reducing earnings expectations and pushing prices downwards. Asset attractiveness An increase in interest rates also makes equity relatively less attractive as an asset class because the risk-free return available elsewhere increase. As interest rates go up, bank deposit rates rise and new issues of government securities are made at a higher premium rate. This means that the risk premium associated with the stock market, the reward for taking the extra risk of buying equity, declines. As the relative reward for investing in stocks falls, investors move money out of the stock market and into bank deposits and government bonds, pushing down the price of shares. Similarly as interest rates fall, the risk premium for stocks goes up and new money moves into the market from lower risk (fixed income) investments, pushing up prices. Cost of transacting Much of the volume in the markets these days, whether retail or institutional, is made ‘on margin’. This means that initially the investor only has to put up a fraction of the funds needed to buy shares and the remaining funds are loaned by the broker on a short term basis. An increase in interest rates increases the cost of margin trading. As the cost of trading increases, marginal profit opportuinties begin to look less attractive and as a result demand volume is reduced and the price of shares falles. Conversely a reduction in rates makes margin trading more affordable, increases the number of buyers in the market and pushes up prices.

Maruti 800----------Saying goodbye to all

Tue, 07 Apr 2009 05:55:24 UTC

It all started with an idea and it was Sanjay Gandhi who was behind the idea, who thought about a car which the middle class people could afford to buy and realize their dreams of having a car. It was probably the year of 1983 when the first Maruti 800 model rolled out from the Maruti plant in Gurgaon and soon it started creating a history in the automobile sector.

It soon became a people's car and was perfectly in line with the Indian roads. At the time when it was launched in the market, there were only two major auto companies, Hindustan Motors and Premier Automobiles and it was predictively next to impossible for a new company to come and survive. But Maruti 800 did come and when it came it created ripples across the nation. The car soon became an inherent part of Indian middle class households.

It was more than a dream for the Indians and the car somehow became more than a car for many. Now the news are round the corner that the auto company has now decided to phase out the car completely within next few years along with its utility van Omni. The reasons,the company explains are relating with the new emission norms which the country would embrace sooner or later, however, it had the option of upgrading the engines.

So the company has decided to phase it out but I think, there would be millions of people around wishing for the Maruti 800 to stay with them for the long time so that the next time they go to the car showrooms with their children, they could buy them the car their parents bought for them.

slashing lending rates will attract customers or not.?

Mon, 06 Apr 2009 06:02:31 UTC

This is one of the biggest question as almost all the banks are axing down their lending rate, will it help create a situation in which more customers will be attracted by seeing the fall in lending rates. Most of the banks have slashed their Benchmark Prime Lending Rate (BPLR) by 50 to100 basis points and other have slashed their Retail Prime Lending Rate (RPLR) by 50 basis points.

The customers at this point of time wants loan at the cheapest possible lending rates, but still the lending rates are quiet high. This will create a catch 22 situation in between common people whether to go and garb this golden opportunity or to save themselves from this trap. Trap I mentioned here because the banks haven't slashed their lending rates by fair basis points.

In any case, it will be good to watch whether people go for the lending rates they are provided or they are smart enough to save themselves.

ORANGE FINANCIALS

Mon, 06 Apr 2009 12:38:02 UTC

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Planning to sell property

Thu, 02 Apr 2009 07:16:02 UTC

Looking for buyers to sell your property! Not a very difficult thing but one needs to be smart and a bit professional as well. In the process of selling and finding suitable buyers, you have to depend on the unskilled middlemen, however, they may be of great help for you. Especially in the case when you want to extensively market your property and looking for a good money value, you will have to depend on these people.

This is the computer age and internet has provided a great deal of relief when it comes to display property online and invite interest from the world. The one thing which you need to keep in mind is the level of reach that you want for your property, the longer the market the more chances you have to get the best offer.

You need to be a smart seller and sometimes you need to think out of the box and then there are some ways which you can undertake to get the best price for your property.

Always showcase the USPs of your property

Try to take the property to the reach of the targeted buyers

Try renovating and adding the latest features

and the last but not the last thing, be confident and smart while negotiating.

Reduction in Lending rates

Wed, 01 Apr 2009 05:34:39 UTC

Almost each and every bank in the country is coming up with new and attractive offers this season. Have you ever wondered why? This is all because of our government. The government has forced the banks to slash down their Benchmark Prime Lending Rates (BPLR) as Reserve Bank of India (RBI) has lowered its Repo rates for the other banks.

The banks have lowered down their lending rates from 25 basis points to 50 basis points, which is a good sign for a common man. At this time of recession Indian government coupled with RBI is taking some serious steps so that the common man shouldn't feel the heat of global economic recession. We can now have any loans on lower interest rates and can make our dream come true.

Free cash withdrawals from all ATM

Mon, 30 Mar 2009 02:44:55 UTC

Great news guys, I have just heard that the banks are waving off their fees for the cash withdrawals from ATM using debit card, issued by other banks. I think the efforts of RBI are showing flaunting their colors now. Now people can use any ATM for withdrawing cash without worrying about the service charges. This service will commence on 1^st of April and will be appreciated all over the country, I can bet that.

Still the banks have options to charge for the extra services provided like the cash withdrawals from the ATM's located overseas and for using credit cards to withdraw cash. See, something has to be compromised, but it is nothing if you have a look at the convenience they are providing. From now onwards, people won't go far to locate their banks ATM, instead they will look out for any ATM in their vicinity and can withdraw money from their.

Apart from this valuable service provided by the banks, I would even like to deviate the attention of the readers to the ATM's which are out of service most of the time. People should take care of that and report to bank as soon as possible so that the banks can fix this problem. All in all, its a great news and now I don't have to search around my banks ATM to withdraw money.

Earth Hour- A welcome move to save energy

Sun, 29 Mar 2009 11:00:51 UTC

Dear all

It was a appreciable move to save energy. But how successful it was nobody knows.

The message was to switch off the light at your own will to contribute in energy saving.

Do you think self discipline can bring success to such moves. I think no. And why on a particular day?

Let the Govt. order the electricity department to keep it off every day for one hour in the morning. So that, even public in general is no harrassed and energy is saved. Let the offices start in the early hours and closes early in the evening so that people can work in natural lights. Let the offices be designed in such a way that benefit of more and more natuaral lights can be taken. Let everyone decide that he will not use A.C until 12.00 noon and after 2.00 A.M. Let's all decide to use CFLs to save energy.

Would welcome more light on this issue.

Regards

Ashok Mehta

Credit cards- how good how bad

Wed, 25 Mar 2009 06:04:22 UTC

In the past few years, there has been a hype about credit cards and, yes, the hidden charges that the banks never disclose. But in today's world, it's almost impossible to survive with out the plastic money as its is popularly called. With the advent of the plastic money, people need not to carry bundles of cash in their pockets whenever they go out for shopping or for some other important transactions and this has resulted in great comfort and easiness.

Remember the time when credit cards came into the market, there was a great opposition from different segments of people, however, with the time people understood the significance of credit cards. Gradually, credit cards came into the scene and slowly took over the market as a whole. People get to know that carrying credit cards is always better than hard cash.

Credit cards entail lots of benefits with and one of them is that it offers its users convenient payment solutions and offers cash limit and credit limit. So at times when you run out of cash limit even then you can shop and execute your daily financial transactions with the credit limit feature provided by the banks.

Now with so many of advantages that the credit cards offer, there might be some disadvantages as well which you might have to face in case you are not cautious. Whenever you get any query relating credit cards from any financial institutes, make some preliminary level inquiries and if you get satisfied with the kind of services they are offering, go head with it.

Some amazing facts about Nano

Tue, 24 Mar 2009 07:31:33 UTC

A man's dream wofuld finally come true today when Tata's Nano would roll on the Indian roads. Still there are some facts about the small wonder car which are mentioned here. Every important fact about the car is here.

Inspiration for the small wonder: Ratan Tata got the inspiration of launching Nano while observing families riding on two wheelers with the man driving the vehicle and wife and children either in front of him or on the back seat with the women. This gave Ratan Tata an idea to built a people's car.

Holds record: The 54^th edition of the Guinness Book of World Records has listed the Nano as the cheapest car of the world.

Hands behind the car: The Nano is the result of the hard work by a strong team of around 500 engineers headed by Girish Wagh at the Engineering Research Centre of the Tata Motors plant in Pune.

Name source: Nano is a Gujrati word which means small and interestingly the mother tongue of the Tata family.

Price Mystery: They have done this by cutting on components, particularly steel as the car uses less sheet metal, has a smaller and lighter engine, smaller tubeless tyres and a no frills interior.

Patent story---- Don't get surprised that the auto company has applied for 34 patents in order to cover its innovations.

Finally one must say that Nano is a small wonder with a big heart and every Indian would be singing this......hamain apni Nano me basa lijiye as the car is being sold by Tatas through Lottery system.

Terror Insurance--- gaining popularity in India

Fri, 20 Mar 2009 07:28:06 UTC

Terror Insurance--- gaining popularity in India

Terror insurance is a type of insurance policies offered by several insurance firms for the loss of property and assets in terror attacks. And the nationalized insurance companies such as Oriental, new India, National Insurance Company and United India Insurance are the first ones which have come forward with such policies. The owners of the establishments who opt for terror have to pay 10 per cent extra premium on their fire policy. And at present, with the terror attacks becoming more and more frequent in the country, terror insurance is gaining huge popularity. In the last five years alone, the terrorism insurance pool has increased its worth Rs. 200 crore to Rs.600 crore.

The policy covers damage to property in bomb blasts or any other kind of terrorist activity. For compensation of loss of life, the owner also has to take a liability cover. Temples, mosques and churches have also paid premium to get insurance cover. Besides this, the companies in north-eastern states, Maoist affected areas, states which share borders with Pakistan and southern states affected by LTTE activities have insured themselves with this policy.

However, when insurance companies provide such covers, they make the owners to follow a list of do's and don'ts in order to ensure the security of their establishments. The safety list includes installation of close circuit cameras and metal detectors, arrangements for frisking of visitors, installation of various kinds of fire fitting electrical appliances and many more such security related measures.

One still might think it a sheer waste of money, however, no one can deny its importance in today's scenario.

Bank Fixed Deposits------The Right Investment

Thu, 19 Mar 2009 07:13:35 UTC

It is the recession time again in the so called small world and people have lost lots of money they put as investment in the share market. People are finding it tough now to think of something as safe investment. Heard of Fixed Deposits before. This is something you can bet upon that even in times of slowdown your investments are safe and earning you good returns as well.

Fixed deposits are also known as Term Deposits where you invest a certain sum of money in the bank for a specified period of time with a fixed rate of interest. The rate of interest you get on your deposited amount depends solely on the maturity period,i.e, it is slower rate of interest when the time period is short and similarly it is higher in case of longer maturity period.

The time period for which you can deposit your money in the bank ranges from 7 days to 10 years and the interest is compounded annually and is added to the principal amount. Minimum amount that one can deposit with the bank is Rs.1000 and as far as upper limits are considered there is no limit.

One of the best thing you get when you have a fixed deposit with the bank, you become eligible for applying and availing loans and overdraft services. And yes, one thing that you might probably ask is whether you can withdraw your amount before its maturity and the answer is yes, you can but then you will be exposed to some penalty by the bank.

Life Insurance----- You Need It

Wed, 18 Mar 2009 07:05:18 UTC

Life insurance has always been a thing one should always do like marriage and children. And in the present scenario aam as well as khas aadmi get their insurances done. Are you the kind of person who thinks that it is something one doesn't require and is just an hype created by the insurance companies? Well, in that case you must go through this blog where you will get to know what the Life Insurance Policy is all about and that you need it.

First thing, the insurance policy helps people in securing the future of their near and dear ones. After getting a policy done, a person can lead a peaceful life knowing that his family would not come on the roads even if something bad happens to him.

Now if you are thinking of taking Life Insurance Policy, then let me tell you that it not that easy since you will have to decide upon what sort of policy you wish to buy. Temporary or Permanent insurance are the two types which you need to choose from and basically decided depending upon the persons age and policy amount.

What creates the difference between the two is the fact that Permanent policies can never be canceled in any case by the company except when the person misleads the company by wrong verification. In case of Temporary policies, the policy holder does not receive the cash value and the policy can get canceled if the premium amounts is not paid regularly.

So, Life Insurance is not something you waste your money on, instead it is something you invest for a safe and secure future.

Personal Loans---get it when you need it

Wed, 18 Mar 2009 06:13:34 UTC

If you need immediate cash for your requirements without much hassle, then Personal Loans is something you should think of. The best thing about Personal loans is that you do not require any kind of securities. Even banks are there which do not even make inquiry regarding the end use of the loan for which you are applying for.

Now the next important thing is the maximum amount which you can avail from the bank and that solely depends on your repayment capacity. If you happen to be a person who are working in an MNC getting big bucks and a wonderful future ahead, then in that case you can ask for anything,,,,,just kidding, but the thing is you easily get the loan amount from the bank.

There are so many good things about these type of loans but one thing that you need to keep in mind is the interest rate that you will be charged on the loan amount. Since the bank provides you the loan without any security or pledging of assets, the rate of interest charged will be higher when compared to other secured loans that the bank deals in. However, in times when you need the money desperately for anything and you need it urgent, then one probably won't mind higher rates.

Layoffs in IT

Tue, 17 Mar 2009 02:52:47 UTC

The worst word for an employee is “Layoff”. Layoff is very popular in todays world suffering from economic downturn. I'm not saying all, but most of the IT industries are taking the help of layoffs for cost cutting and to reduce the head counts. Looking at the current scenario, it is very hard to predict that who is next. It can be anyone because IT industry is the most badly hit industry during this global economic crunch.

But the matter of fact is, are the layoffs right? Does he deserve to get layoffs as incentives for the years of shear hard work and sacrifices. In my opinion, company should better find other ways then to layoff its employees. This is not the only way by which you can do cost cutting.

IT industry is the worst hit industry in today's time. Very few fresh aspirants are getting jobs in IT and most of them are searching some alternative for the time. The layoff from an IT firm can shatters anyone dream at this moment. So I suggest the industries should look out for any other alternative to counter this recession, rather than layoffs.

The face of global economic crunch in India

Tue, 17 Mar 2009 02:51:49 UTC

As we all know the world is going through a tough time of global economic crunch, Indian economy is still very stable as compared to its other counterparts. This is a very good news for us but despite that you can't deny the fact that almost every industry in India posted a huge loss in their financial reports.

There are very few industry who stayed out of the blues of recession and global economic crunch but most of them faced the heat of global economic crunch. Still the companies are surviving and doing their best to survive in the market.

The financial crisis in India doesn't cause that much harm to the industry as they were expected to cause. IDBI and Infosys are still hiring the candidates and thats the good news. The firms are on their way to again stand up high in the world's market. This recession and global economic crunch only made them stronger not weaker.

New version of premium sedan Accord

Mon, 16 Mar 2009 07:37:40 UTC

Claiming to be a super performance car, Honda Siel Cars India has rolled out the advanced version of its premium sedan Accord. The new car model comes with a promise of an ultimate performance packed driving who seek more thrill and power. It is powered by 3.5 liter i-VTEC engine and comes in two variants- Accord V6 3.5 and Accord V6 3.5 inspire carrying price tags worth Rs.24.80 lakh and Rs.25.35 lakh.

New Accord V6 comes with advanced safety and luxury features delivering the maximum power of 275 PS during six cylinder operation as well as impressive fuel economy. The vehicle utilizes smart technologies which let the user switch between six-, four-, and three- cylinder combustions, with the support from its Variable Cylinder Management system. The engine of the car meets Euro-IV emission levels and is E-10 compatible.

The existing Accord comes with a 2.4 litre engine that generates 180 horsepower and now when it comes to new Accord, the company claims that it would give a mileage of 10 km per litre as per Automotive Research Association of India conditions.

Last but not the least the new version car comes with a discreet economy light on the dashboard which lets the customers check if the car is operating in the range of best fuel economy for the current driving condition. Besides this, the quietness and smoothness of ride stands of great importance and for that, the Accord V6 features new Active Control Engine Mounts and Active Noise Control systems.

All in all, a treat for the car lovers! So just go ahead and hit the road with the new Accord V6.

Green territory for Sensex: Recession is over !

Mon, 16 Mar 2009 06:36:36 UTC

On Friday, Indian stock market closed very high as the Sensex and Nifty stocks traded in green territory and the benchmarks surged up by 445 points and 108 points respectively. Following the similar trend of the senior indexes, BSE Smallcap and CNX Midcap was also moving northwards and ended in green in the evening, recording the strongest session of 2009 till now.

Some analysts together with RBI have already claimed that Indian economy is turning around on the ground of speedy recovery and the economic crisis will have lesser impact on Indian economy in the second half of the year. But the question remains the same, Is it possible?

Does this really mean that recession in India is going to end soon if Sensex and Nifty are at the topmost position of 2009. Is this really possible to win over the tough times before any other powerful player or country.

This could be true to some extent as it is seen that India is suffering less than UK, US or any other powerful country as there are less job cuts as compared to financial super powers, country's companies have posted lower losses than anticipated. On the other hand one of the largest retail chain of India ‘Subhiksha’ is near bankruptcy. Well the fact is that no one sure about whats going to happen in the near future, everyone can only expect some good or bad things in the economy but can’t be sure about the fact.

recession impact on jobs

Sun, 15 Mar 2009 03:11:23 UTC

Recession

The term itself explains lot of things to a normal person since the term caused lot of adverse impact on normal man. Many lost job and many lost their houses and so on. But how it is formed such a big recession this time. its all because of the greedyness of people in western high fi profiles.

Unemployed- think of starting business

Fri, 13 Mar 2009 07:23:35 UTC

This is recession everywhere hitting everybody from top to bottom and if you happened to be the one who has recently got a pink slip, then this blog may be of some help for you. First things first, its really bad and the second you are not the only one to be thrown out of your company. Lakhs of employees have lost their jobs worldwide due to economic slowdown such as in the case of General Motors which laid-off around 40-50 thousands employees recently and there are plenty of such companies which were the leaders in their respective fields. So there is no need to lose heart since there is certainly a way to come out of the debris and that is starting your own business, yes your own business.

When someone thinks of starting business, the first thing that comes to the mind is capital or money and this is probably the issue in your case too. But remember the popular saying, “where there is a will there is a way” and this is not just saying as you can now think of starting business as there are many banks and finance institutions which provide business loans to accomplish this purpose. There are secured loans which you can easily avail by pledging any asset or property. However, if this option doesn't sound good, you can apply for the second type of loan which is unsecured in nature but this option comes with a bit higher interest rates.

Now the only thing you need to do is to walk to the nearest bank or other financial institution and apply for the desired loans. You can also take the help of internet for this purpose. The borrowed loans amount can be paid back in easy monthly installments and hopefully if your business grows and earn you more and more bucks, then paying back to the bank would be more than easier for you.

Savings account is the right choice in recession

Fri, 13 Mar 2009 06:40:44 UTC

The banks in India are doing well with no major losses as in the case of all the banks in the west. Besides this, the banking sector has the strong support from the Reserve Bank of India in case of any emergency.

Even in the recession time, banks are coming out with new and attractive products and services to cater to the needs of the customers. One such offer is zero balance account facility offered by many banks and in case you are looking for a kind of bank account where in you can keep your money safe and at the same time like to earn high interest rates, 24 hours ATM facility and banking and many other facilities, it is the Savings Account that you should go for.

In brief, a saving account is something which has been designed to easily hold your cash and since there are banks which offer zero balance account, it won't be difficult to open a new savings account with the minimal deposit in the start and then gradually you can invest your money in a phased manner to earn interest as well as other numerous benefits you get when opening the savings account.

Last but not the least, a word of caution for the first timers- before you step into any bank for opening the savings account, do an extensive survey of the market with the help of your friends and parents and if not friends, then internet is surely there to help you out before you open a new account.

A Ray of Hope in Recession

Thu, 12 Mar 2009 06:17:18 UTC

As we know the whole world is going through economic crunch and recession, its so hard for an individual to be 100% sure that he will not see a pink slip in the near future or will not be a victim of Layoff as his colleagues were.

Inspite of being a victim of economic crunch coupled with recession, there are some firms like Infosys, IDBI etc. are planning to hire fresh aspirants in the near future. The courage of these firms are accolades for themselves as they are still hiring or planning to hire in the near future where other firms are laying off.

Infosys is planning to hire 20,000 and IDBI has also flaunt their interest to hire 2,000 officers. This move by 2 of the biggest companies of India has given a ray of hope during this backbreaking time. All the fresh aspirants who still have to take a first step in their professional life are appreciating this initiative by these companies and hoping that other companies will do the same in the near future.

As we know recession will take some time to heal up, till then we can hope that if not all than atleast some of the companies should follow the way of Infosys and IDBI.

Before you buy a car

Thu, 12 Mar 2009 05:44:16 UTC

Buying a new car is an important decision for most of us and it requires a careful and detailed planning. Its always better to think in detail before you go out to shop for one. Fuel efficiency, seating capacity, safety and service network are some of the factors which need to be borne in mind before buying a car.

Ask yourself about what kind of car suits your lifestyle and your budget. Second, you need to identify the car you want for yourself which is in line with your needs. Try to go for the right deal that includes availing incentives and rebates on the car and being careful of the hidden incentives as well. Always check the quality and features of the car besides gathering expert reviews about the vehicle you are planning to buy. Analyze the engine power, mileage, seating capacity and other technical specifications as well

Don't forget to opt for the lowest interest car loan and asking for the incentives the manufacturer of the car company always offers. Automobile insurance is another thing you need to ensure about. Make it a point to check the car for ride comfort by test driving the car and check your vehicle thoroughly before driving it home.

These are some of the steps and factors you can apply and use when going for a car. In addition to the above steps, consulting your friends and relatives who have cars would definitely help you a lot in your search of car.

Recession Hits Top Business Management Schools

Thu, 12 Mar 2009 04:01:55 UTC

Looking at the current scenario, one could easily determine that how difficult is to save your job and on top of that it is now more difficult to get one. The diseases of recession is causing the pain to young aspirants all over the country. Even the top management schools are facing the heat of recession and slumping economy. As a result, there are lesser number of companies going to IIM's. The hiring process is very slow in those institutions and the package the companies are offering are too low for aspirants who deserve the best in the industry.

As we can see the conditions of IIM's, we can easily get a glossary of what is going in the market. If IIM students are struggling for a good job, one can have an idea of the status of other graduates and post graduates in the market.

The people who manage to do their higher studies through education loans, are not getting any job in the market, as the companies don't want to experiment with freshers instead, they need people with a backup of 3-4 experience. Students in return replies by saying that, till the companies wont give an opportunity to the freshers, how will they gain experience.

This recession has shattered dreams, hopes, faith and confidence of young aspirants.

lay-offs

Tue, 10 Mar 2009 04:20:52 UTC

With the badly crumpled global market, due to financial crisis prevailing all over, a new buzz in everybody's minds is the lay-off or the pink slip, as it is called. Till date, people had lost their jobs usually quitting them, sometimes getting fired but extremely rarely or rather never getting laid off.

What we Indians were facing already as a curse was the peril of unemployment, but lately the face-off with another menace, the lay-off, that has been further adding to the level of unemployment, is what is the biggest concern right now.

The worst hit is seen in the Silicon Valley. All major IT companies are in a disastrous state because of the current situation of the global market. They have stopped fresh recruitments as a whole, alongwith, continuous episodes of mass lay-offs. Mutual Funds companies have also suffered a huge blow, and have tumbled off their economic stability. The scene is no better for other businesses and corporate sectors too.

People who are laid-off, new faces that are badly waiting for one single chance to prove their ability, old people who are having to wait months long for their pensions of a single month and everybody who is facing a similar turmoil is blaming no one but their employers and companies out of disgust, but if one is into their shoes, it is even more difficult to cope up with the situation. They have no other alternative but to take this step!

Adding up, what we can now do is nothing but wait for the upheavel to calm down slowly and hope for the market to settle down back into its vigor and position. Till then, we can just wait and watch and organize ourselves and get ready to get back to work as soon as given a chance, instead of getting frustrated on what has cast upon the society!

Recession: Not a new thing for world economy

Tue, 10 Mar 2009 02:44:29 UTC

Let's first start with what exactly makes a Recession- it is something that has hit all the world economies below the belt. If you go by the definition of National Bureau of Economic Research, Recession is a significant decline in the economic activities spread across the economy, lasting more than a few months and normally visible in real income, real GDP, employment, industrial production and wholesale retail sales. Even at the present time, the world economy is showing the same symptoms and consequences but it is not something new or a thing that has never happened before.

The world had witnessed the Great Depression which was a worldwide economic downturn which originated in the United States in 1929 and spread in most of the places. The depression had devastation effects in virtually every country whether rich or poor. International trade fell by half to two thirds as well as personal income, prices and profits,tax revenue. Besides this there had been a number of other recessions as well in the history of world particularly in US and UK and the aftermaths had to be faced by the world. However, with the time things went normal.

Even the latest economic slowdown is not here for a permanent period. It has hit the developed countries such as US, UK and other international financial institutions hard but countries like India have been on a safer side. It has its effects on developing countries as well but they are not huge.

Bidding for Satyam - Who is the right player?

Mon, 09 Mar 2009 04:01:48 UTC

As the bidding of scam-hit Satyam is commenced today, through an online auction, there are plenty of firms eying on to take the 51% stake in the company. According to my knowledge 3 big firms like, Larsen and Toubro, The Hinduja Group and the Spice Corporation have flaunt their interest in the company. There is no minimum floor price for the bidding of Satyam coupled with the transparency of the whole process, each and every player in the market will go for its bidding probably.

The firms who are interested in participating in the Satyam's bidding process will have to give their names till Thursday and also to submit a cash proof of Rs. 1500 crore. According to me, as Satyam is a Computer Services firm, Larsen and Toubro or any other IT and computer related company will be the best player for it. As they will not find it hard to manage it. Previously, Satyam was India's one of biggest Computer Services Provider's, with a strength of 50,000 and over 600 clients. The race will be to lord over this fully equipped force of Satyam.

Lets put our fingers crossed so that the dark clouds over Satyam vanish and it will again come out with flying colours, Amen.

Stock Market: An Introduction

Fri, 06 Mar 2009 06:59:11 UTC

A Stock Market is a private or public market for the trading of company stock and derivatives of company stock at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.

All the participants in the stock market range from small individual to large hedge fund traders, who can be based anywhere.

The purpose of a stock exchange is to facilitate the exchange of securities between the buyers and sellers and thus providing a marketplace (virtual or real).

Years ago, buyers and sellers were the individual investors, such as wealthy businessmen, with long family histories to particular corporations. Over the time, markets have become more 'institutionalized', buyers and sellers are largely institutions such as pension funds, insurance companies , mutual funds, index funds, banks and various other financial institutions.

The stock market is one of the most important sources for the companies to raise money. This allows businesses to be publicly traded, or raise additional capital for expansion by selling shares of ownership of the company in a public market.

Last but not the least, Riskier long term savings requires that an individual possess the ability to manage the associated increased risks. Stock prices fluctuate widely, in a marked contrast to the stability of bank deposits or bonds. This is something that could affect not only the individual investor or household, but also the economy on a large scale.

Health Insurance

Fri, 06 Mar 2009 11:07:13 UTC

Everyone of us needs financial security in life. So, lets sit back once and think of our not so young days when we will be in the need of financial independence regarding our health expenses and issues, because no one of us would prefer being dependent on our children for our expenses.

Taking this view point into account, is it still wise to cover our golden years? Well, the answer is “YES!” If you do not want to build a contingency fund, or depend on your children for your health care expenses, signing up for a mediclaim is a must.

Talking about the age, there is no right age for mediclaim to be insured. It is a known fact that most of our older generation haven't had their mediclaims done because of the unawareness in their times. They should however, go for it whenever they come to know about it, and for the younger generation, it should be done as early as possible, as the one head line always exists and holds significant meaning, “Health is Wealth”.

Therefore, you can start buying a health insurance for you and your family as soon as you start earning. I recall an incident I came across a few days back while I was talking to a friend. Amit Tandon, from Kolkata changed the business fortunes of his father Ramesh Tandon. Till his birth, the family lived fairly humbly. Suddenly, they began expanding their business into finance, grains and warehousing. While the business was growing, senior Tandon made some prudent investments.

He constructed office premises specifically meant for leasing out. Then, the wheels of fortune once again turned. Amit's father had to have a bypass surgery. His health condition prevented him from working routine hours. At this time, the investments made during sunny days in the form of health insurance, turned out to be a 'blessing in disguise' for the family. Thus, the family tackled a misfortune, which could have brought about dire situations, extremely easily! That is the reason why it is beneficial and necessary for every one of us to have a health care insurance done.

REAL ESTATE IN RECESSION

Thu, 05 Mar 2009 06:47:39 UTC

Real Estate market is the one of very important markets of India through which many wants to earn the quick money as till last year in the metro cities of India the property prices were on the peak as if anyone is owing the property in the cities like Delhi, Mumbai, Bangalore and Noida could have earned the big and quick money within a month.

The property rates were increasing day by day till September last year when the recession hit the world and not many people remained in the condition to invest in the real estate market for more earnings or have plot for long term investment as everyone feared that now property rates are not going to take that speed upwards which they were having some time ago.

Now the condition is that no one who has bought the property for higher rates is not ready to sell that property for lower rates as this could lead to a big loss and no one at this time wants to invest big amount in real estate.

Recession took the real estate to the level that was never imagined by anybody as the big companies like JP Group and Unitech saw a big drop in sales of property and immediately offered the luxury cars with flats.

Today the condition is that many big projects of many big companies are on hold and no one knows when this crisis situation will come to an end.

Banking System

Thu, 05 Mar 2009 06:37:38 UTC

In this today's world, when everyone is looking out for ease of convenience and peace of mind, as far as the security of their money and valuable assets is concerned, only one thing comes in mind, put your valuable assets and money in Bank and live a hassle free life. Bank is the only word you can bank upon. Whether it is a government bank or a private bank, your assets are in safe hands.

Besides taking care of our money and assets, banks also provides interest on the cash we deposit in the banks. Its a two way benefit- your money is secured and even pays you for its own security. Banks also provides state of the art facilities like loans, fixed deposit, lockers, accounts, credit and debit cards coupled with some attractive offers.

All these services are provided to you so that you don't face any kind of inconvenience while depositing or withdrawing money. Even they take care of the infrastructure, as most of the banks, whether they are public or private are very clean and air-conditioned. Inquiry counters, are there in each bank so that you don't stand blank there. Banks are very reliable and very helpful in emergencies.

Economic Slowdown influencing our life

Wed, 04 Mar 2009 06:43:12 UTC

One wonders what changed so drastically that economies around the world, are reeling under severe liquidity crisis and companies are posting negative results quarter after quarter. I have a smart and satisfying answer, i.e., current economic scenario. Impacts of the current economic slowdown are far- reaching as no sector is untouched.

Few financial analysts believe that it all began a decade back with a booming housing market in America. Wall Streets' innovative idea of injecting liquidity in the system by ’mortgage-backed securities’ and ’collateralised debt obligations’ (CDOs) further worsened the situation, which had long lasting impact on economies of world over countries. Although, the Wall Street polices earlier had a positive result as Mortgage brokers and Mortgage lenders under throat cut competition were hunting for customers, based on the policy of 'anybody and everybody'. After a while 'Investment Grade' CDOs saturated and that led to the practise known as 'Sub-prime lending'. Under the practise financial institutions started lending credit to those who do not meet prime underwriting guidelines. Banks and financial institutions participated in rat-race to inflate their earnings and profit forecasts and in-turn their valuations and results are clear.

I have been a regular reader of the financial news and its been a disappointing task. There are millions of people, who have lost their job as a result of economic downturn. IT, Auto, Banking, Infrastructure although the sectors are multiple, but the impact is unified. Haresh Mehta, one of my good friend lost his job as his company ousted him as measure of cost cutting. It began from US and spread worldwide like an epidemic.

FILING TAX WAS NEVER SO EASY

Wed, 04 Mar 2009 06:37:54 UTC

Paying your bills and booking the rail and air tickets online is proved to be an excellent idea in order to make life easy and adding to this comes a new idea of paying the income tax online which is formed to make life even more simpler, where no one have to get tensed about the fact that the date for filing the tax is coming soon.

You need only one thing extra to enjoy this new facility of paying income tax online and the thing is that your bank should provide the internet banking facility so that you can operate your account online easily. Now days many sites concerning finance is providing the e-tax facility.

There are many advantages of filling the income tax online like this is a convenient, user friendly and hassle free process for the users, it provides the accuracy in data, for each and every short detail a record is kept, expert advice is provided, you can file the tax any time as no time duration is decided for this process and you can file the tax sitting anywhere.

E-Tax is surely a big relief for those who have suffered a lot in the tough process of filling the income tax.

Personal Loans - Your friend in Need

Wed, 04 Mar 2009 06:35:51 UTC

Many of the times people witness financial crisis. During this hard time, they seek money either from their relatives or their neighbors. Personal Loans provide a easy way out from this situation so that you don't have to spread your hands in front of your relatives or friends.

Basically, a personal loan is the sum of money borrowed to fulfill your financial needs. There are personal loans available for each and every thing you want. So now, either you want to make a dream home, or you want your daughter's wedding to be the talk of town or your child needs a latest configured laptop, personal loan is all you can count on. Besides this, personal loan can be very helpful during financial emergencies.

There are 2 types of personal loans available

Secured Loans – Loans that are secured against some sort of movable/immovable assets
Unsecured Loans – The sum of money given by the bank is not secured against any assets. It is given on the basis credit worthiness of the individual.

So, when you run out of money, or witness some serious financial crisis, you know its the time to go for personal loan.

Financial transactions without cash

Wed, 25 Feb 2009 04:07:53 UTC

Each one of us struggle to earn a livelihood after reaching an appropriate age. Definitely this is necessary also. To lead our life comfortably free from problems, a good income is necessary. Almost everyone tries to do something such as business, service etc., to accomplish this purpose. But one aspect which is also supposed to be necessary is saving. Savings are necessary for the time of emergency.

Saving accounts can also be referred to as the perfect option to compliment this purpose. Another thing is that, you cannot keep all the money at home whatever you earn. Additionally, doing huge payments through cash is also not possible. These accounts help you to solve all your problems. You can deposit a large amount of money in your bank accounts. This factor would help you to save your money from theft, robbery etc. In addition to this, a fixed percentage of interest is also added half-yearly in your account according to the amount in it.

Moreover, saving accounts help you for the credits. For example, as I discussed above that paying or receiving a large amount of money is not possible. But, you can make the big payments through cheque. If you have to receive a large amount, then you also can receive the payments through cheques. In that case you just have to deposit the cheque in the bank. After that all other headache get transferred to the bank.

Now many banks started as ECS system which also stands for the Electronic Clearing system. Under this system, if some firm has to pay you money, it can pay it by directly depositing the amount electronically. Another thing, which has come into limelight with the advancement in technology is the use of debit cards. With the help of the debit cards, you can withdraw your money any time from the authorised ATMs at any time. The debit cards can also be used while shopping in the same way as you use the credit cards. For sure, maintaining the finance without saving accounts is almost impossible now a days for a common man.

Do not beg, invest in good schemes

Tue, 24 Feb 2009 06:51:33 UTC

Each one of us caress an inner desire to keep our life financially secure. This is just because, we don't like to beg in front of anyone in case of any emergency situation. In order to pursue this purpose, a we do a lot of effort. These efforts may be such as saving money in saving accounts, investing the money in many schemes and so on. Investment is one of the good options to make the life financially secure for future.

Investment may also be of many times. This may be in shares, debentures, fixed deposits etc. But, as per my observations, one of the best options for investing the hard earned money would be the mutual funds. This is a type of collective investment scheme that takes money from the investor and invests it in many beneficial schemes such as shares, bonds and many short term money market instruments. Under this scheme the investors get a handsome payback for their secured future.

There are three types of mutual funds schemes available now a days – Open-ended, close-ended and tax saving schemes. The difference between open-ended and close-ended schemes is that open-ended scheme has no maturity period. Whereas on the contrary, close-ended schemes work on a specific maturity period. In the tax-saving plans which are available in the market allow the people to enjoy tax saving. The said plans mainly help those people who are fed up of paying high taxes.

Many of the people are getting benefited by these plans. These plans are on the one end helping them and on the other hand they are helping their family too. If you are thinking of purchasing mutual fund schemes, then it will not be a wrong decision. These plans on one side will secure your future and on the other hand it will help you in other expenses such as the education of your children, medical expenses and so on.

Health insurance: Safeguard for you and your family

Mon, 23 Feb 2009 05:57:35 UTC

The health insurance policy is generally used to describe a form of an insurance that pays off all your medical expenses. In general words, it is a contractual relationship whereby an insurance company or an institution agrees to reimburse the health care costs of insured person, in exchange of the monthly premiums. It will protect you against any financial constraints originating on account of medical emergency. It would give you protection against health illness and expenses, which can originate on any unforeseen event.

There are numerous types of health insurance plans available in the current Indian market such as group health plans, worker's plans and individual plans. These policies would even insure you and your family members against any unforeseen medical expenses.

Everyone knows, health is wealth, and in times when many people see their wealth tapering off, it is very important to look after the health of oneself and one's dependent. Now, many Indian banks are providing health insurances for the NRIs ( Non-resident Indians) and that too at very reasonable prices. The NRIs in the Europe and US find themselves confronted with amassing health bills and a reduced ability to pay. India is one of the developing countries where the healthcare facilities can be availed at much affordable prices as compared to others.

The India Health Card is one of the easy options for NRIs to secure their families. It is a re-loadable, prepaid health care card launched to provide health services for NRI families, through a network of health insurance providers. The NRIs are required to top-up the health card via the Internet and then use it to receive health care services from health care providers in India.

The healthcare service providers are also offering some beneficial offers such as family package, lower monthly premium for teenagers and discount on insurance premium. High medical expenses would directly effect you pocket in case of sudden illness or medical emergency.

Recover your loss intelligently

Mon, 23 Feb 2009 05:33:34 UTC

Nobody in this world wants to face loss, either in business, nor in personal life. But many times we get stuck in some situations where we feel helpless. But if we lead our life intelligently, then we can get out of these helplessness definitely. One has to undertake intelligent efforts to minimise his or her losses. Now, the question arises, what type of intelligent efforts? This depends of the nature of loss. Everybody wants to live a luxurious life. For fulfilling this criteria he or she make a collection of several things to make his or her life comfortable. One such thing is his or her own mode of transportation such as a bike, scooter or a car etc. Among these options, the car has become the most popular option, on which one can go on a ride with the whole family. This is a one of the most important criteria that the car fulfills. That's why every car holder wants to keep it safe and avoids rash driving.

But keeping it safe every time is not possible. Many times a person has to face some problem with his car due to his/her or someone else fault. What to do in such a situation? The best option is to opt for a car insurance. As the name suggests, this is the perfect option through which your car can get insured. Through this, you can even get a handsome amount from the insurance company if your car gets lost.

To get the insurance, first, you have to locate a recognised insurance company. Such companies are often too popular, that, most of the time, common man knows about them. The reason behind this is that, there are many advertisements published from time to time in daily newspapers. These can be searched even on the Internet too along with their deals. One has to fill the premium on time to retain the insurance. The cost of the car insurance would depend on the cost of car. The cost of the insurance of costly cars are high. In the same way if you have purchased the cheaper one, then you have to pay low price for insurance. The insurance company will check all your details like your address proof etc., and after that you would get the policy without any difficulty. So, from now, wipe out all your tensions regarding the protection of your luxury items. Better options are always there for you. Just grab them and enjoy life to the fullest.

Park your money without tension in saving account

Fri, 20 Feb 2009 05:32:21 UTC

The banking industry of India has been currently termed as strong, having weathered the global economic downturn. Moreover, it is showing good numbers with strong support flowing in from the RBI (Reserve Bank of India) measures.

These days, banks have numerous kinds of products with different-different charges and fees, that it is highly difficult to know, which type of bank account would suit you the most. There are few attractive options to invest your money which are safe, easy-to-access and comes complimented with more interest. In general words, it's a good time to start a new saving account with any commercial or public sector banks. A saving account is a kind of account which has been designed to easily hold your cash. Bank's saving accounts offer a secure place to keep your money safe. First of all, decide yourself, which type of account would suit you best. There are numerous commercial and private banks available in the present market which are offering wide range of saving accounts with many lucrative offers such as high interest rates, 24 hours banking, 24 hours ATM facility, zero balance account and many more.

In this time of recession, there are many banks that offer zero balance account opening facility also. Therefore, look out for the minimal deposit required and open a new saving account without any second thoughts. The banking sector is one of the safest places for depositing your money. Presently, more and more people are showing their interest in saving accounts because it is proving to be one of the most profitable options for the people.

Before opening a new saving account, you do an extensive survey of the market because there are various features which you need to know before opening a new account. Online banking, ATM cum debit card, good customer service, high interest rate and advanced services are some of the latest offerings of the banks.

Real estate of India: One of the toughest pillars of Indian economy

Thu, 19 Feb 2009 06:17:11 UTC

The real state India, actually plays a very crucial role in the country's economy. It is second only to agriculture in terms of employment generation and contributes heavily towards the GDP (gross domestic product). The housing sector contributes up to 5 percent to country's GDP. According to the economists, in the next 5 years, its contribution to the GDP is expected to rise to 6 percent.

Moreover, the real estate sector is also responsible for the development of over 250 appurtenant industries such as steel, cement, paints and so on. An extensive survey by the rating agency ICRA, shows that the construction industry ranks 3rd among the 14 major sectors that directly effects the Indian economy. If the Indian economy grows at the rate of 10 percent, then the real state sector has the capacity to grow at 14 percent and generate 3.0 million new jobs over a decade.

Furthermore, almost 80 percent of real estate developed in India, is residential space, the rest comprises of shopping malls, offices, hotels and hospitals. According to the 10th five year plan, there is a shortage of 22.4 millions dwelling units. Thus over the next 12 to 15 years, about 90 million dwelling units would need to be constructed. A majority of them will have to be built for middle and lower income group people.

The foreign investors are also showing their interest in the Indian real state market. FDI (Foreign Direct Investment) inflows estimated to be US$ 19.5 billion in fiscal 2007 and US$ 7.5 billion in the first five months of fiscal 2008. It is predicted that the Indian real state sector would touch US$ 25 to US$28 billion by 2010.

The real state sector of India is growing continuously and that too at the period of global financial crisis.

new website paisawaisa

Thu, 19 Feb 2009 05:12:04 UTC

yesterday while searching google i came across this website, nicely build, colourful, still this website needs lot of conditioning, i created my account easily, this website contains lot of sections like car, insurance etc now we dont need to open two three websites. three cheers to paisawaisa.com as i mention this website is new and needs contioning, yesterday i put and add to sell my car getz after posting the the add i want to change some of parameters but there wont be any option to delete/ or do modification. i feel like stuck. In other setion also no new information is there. Hope this will make a popular website soon with lots of features.

Shop anywhere in the world with the support of International credit cards

Thu, 19 Feb 2009 12:06:19 UTC

There are variety of credit cards available in the market and more and more commercial & public sector banks are planning to launch their credit cards. These cards offer you the convenience for your financial transactions during shopping, travelling, cash withdrawal and cash transferring. They are widely accepted both in India and other foreign countries too. One of the most famous public sector banks, the Punjab National Bank has sprung up in the market of credit cards, of late.

The PNB bank has recently launched the International credit card for the people. The Deputy Chairman of Planning Commission of India, Montek Sing Ahluwalia said, that International cards would be acceptable in more than 29 million merchants and one million ATMs across the globe. Furthermore, it would also be accepted at uncountable numbers of online shopping websites.

With the arrival of such credit cards, nowadays, it has been seen that several people are even getting engaged in the act of credit card cheating. For the protection of card holders, the HSBC India has launched a card protection plan in association with CPP Assistance Services that provide protection to the cardholders against the frauds. An HSBC press release said, if the cardholders, on realising their cards have been stolen or misplaced, can make a call to the CPP 24 hour helpline which will block their cards immediately.

Furthermore, the credit cards would permit you a smart way to shop and offer you flexibility and convenience in managing your finances. Most of cards provide a host of amazing offers and benefits such as reward programs, low interest rates, a high credit and cash withdrawal limit. They come with different-different types to suit the different needs and requirements for added features.

With the easy and hassle free transaction service, the credit cards are gaining huge popularity among the people as well as the businessman. One of the big advantages of these cards is that, the people can purchase anything they want without carrying cash in their pockets.

Current economic scenario of India: Yet standing tall

Wed, 18 Feb 2009 06:22:59 UTC

Indian economy has been witnessing a phenomenal growth since the last decade. After seeing a growth rate in excess of 9 percent for the last couple of years, it is still holding its ground in the midst of the current global financial crisis. The current growth rate of Indian economy is between 7 to 8 percent. The Union Finance Minister of India, Mr. P. Chidamram, has reiterated that India would continue being the second fastest growing economy in the whole world despite the ongoing global economic downturn.

Now, it is known to almost everyone that the ghoulish recession period is not yet over. The Government bodies of various other nations and even the Indian government are taking many serious measures to speed up the economies of their respective nations. Financial havoc has not put much effect on the present scenario of the Indian economy.

There are so many sectors in India that are continuously growing at high speed and that too at the time of financial crisis. The banking sector of India, IT sector, Indian media & entertainment industry, real state and automobile industry of India are some of most money-churning sectors in India.

For exp., the Indian Media & Entertainment industry stood at Rs. 584 billion in the last of 2008, a growth of 12.4 percent over the previous year. According to FICCI & KPMG report, in the next five years, the industry is projected to grow at 12.5 percent to reach the size of Rs. 1052 billion by 2013. The report however, highlights the challenge of the sector, to maintain the progress on the back of economic slowdown.

Mr. P. Chidamram, has further assured that by the second half of the next financial year, the Indian economy would pick up and the Government’s, ‘stimulus measures’ would promote growth and assure "brisk” economic activities in the last few months of this financial year.

Loans against property: Viable borrowing options

Wed, 18 Feb 2009 04:33:35 UTC

Amongst the various options of loans and advances, loan against property (LAP) is most viable option for the people who are suffering from cash crunch. This is also called as secured loans. Generally, To get any borrowing amount you will have to apply with money lenders. A mere application does not give you guarantee for the approval of advances. There is also probability for the rejection of your application. But in case of loans against property , you can easily avail the advances facility at an affordable rate of interest . In this type of advances you need to pledge your property as security. The property may be residential house, commercial complexes and plot. With the aid of these credits, people can pay off the medical bills or education fees. These credits re also used for repairing the home and purchasing new house.

There are various lenders, banks and financial institution in the Indian credit market. These lenders include HDFC, SBI, Bank of Baroda, ICICI, union Bank of India and many more who provide these advances under various names. These loans are provided to the people who are between the age group of 18 to 60 years. The salaried-class people, self-employed and professionals can avail these credits. The State bank of India also provides these advances to the people who are from agriculture background. The Union bank of India also provides these credits to the people whose income is not taxable. The rate of interest is relatively low therefore, borrowers may feel free to take advantages of these facilities. People avail these loans against property by mortgaging their property as a security. In case of non-repayment of amount on due date the lender can seize the property for realisation purpose.s This advance facility is very popular among the masses because one can get credit easily and at a suitable cost.

Get rid of worries through E-taxation

Tue, 17 Feb 2009 06:00:30 UTC

In this age of IT and telecommunication, a system which is attracting most of us is the technology of E-commerce. The letter 'e' in this word, refers to 'electronic'. This is a system in which goods and services are purchased through electronic systems like Internet. Various commercial activities take place under this system such as electronic fund transfer, transactions, marketing etc. This system has proved to be very useful to both the common people as well as business persons. Moreover, taxation through the electronic system, is also one of the attributes, which comes under the same.

E-taxation is a system through which taxes are paid electronically i.e., via Internet. This system has removed a lot of tension of the tax payers. In fact, this allows the people to pay their taxes while sitting at home and that too within a few minutes. Most of the taxes are paid through credit or debit cards. One has to enter the credit card number and a code on the back side of the credit or debit card and fill a small from online, and the tax is paid. So, now no need of standing in long queues. Just open the website of the tax authority and pay your tax. I personally use this system many times. It helps me in getting rid of the tension i.e., of going to the tax office which is very far away from my residence. Thus, the most irritating issue i.e., standing in a long queues have also been wiped out at ease.

E-taxation also refers to the fast mode of transaction. Another advantage of this system is that, the payer is not compelled to do long calculations. The calculation is done by the system itself, as soon as you enter some figures. Additionally, such a system help the tax authorities too. The Tax authority otherwise would have consumed a lot of time in entering the record of taxes in the system. But, with the support of this system, the process has been accomplished automatically by the payers. No doubt, this system makes the work easy for both tax payer as well as tax authorities. The work for which we would have consumed a lot of hours can now be done only within a few minutes with ease.

The source for rapid and secure transactions

Tue, 17 Feb 2009 04:16:52 UTC

Money has always been one of the basic needs of almost everyone. But, these days, keeping a large amount of money at home or in pockets, would not be a smart decision. Moreover, paying a large amount to anybody in cash is also impractical. So we need, some source or alternative to accomplish these tasks. These activities are actually being fulfilled by the banks, which are also referred to as the financial institutions. Banks keep the provision of various types of accounts for individuals as well as organisations. Mainly, two types of accounts are handled by the banks i.e., saving accounts and current accounts. The saving accounts are meant for individuals to keep their savings, of which they get half-yearly interest.

However, the current accounts are for the purpose of frequent access to funds, and rapid transactions. These are very often, opened by the business persons, organisations, institutions etc. All the funds of a business or an organisation gets maintained in this process. Such accounts are opened on a constant amount and no interest are further added after a time span. These are meant for the convenience of business and personal clients. Funds can also be deposited or withdrawn any number of time. Additionally, any number of cheques can also be issued to the client through these, on the contrary to saving ones.

These accounts are of great help for business people as well as organisations. Non-profit institutions like charitable ones, educational institutions, companies, firms also use them to keep their funds, profits and donations. Now, most of the banks have even started the online service and current accounts, which can be very easily accessed on the World Wide Web too. These services can be further used to transfer the funds to others account online, view the current balance, make the payments and so on. No doubt, handling a business or maintaining the finance of an organisation would be very difficult without these financial sources.

Gold Future

Tue, 17 Feb 2009 11:43:28 UTC

Gold futures hit a new high of Rs 15,050 per 10 gram in early deals on Tuesday, taking cues from the firm trend in other Asian markets, as investors bought the metal as an alternative to slumping equities.

On the Multi Commodity Exchange, gold for August-month contract shot up by 2.31 per cent to Rs 15,050 per 10 gram. The contract clocked business turnover of five lots.

The precious metal shot up by 1.55 per cent to USD 956.20 an ounce in Asia -- the highest in seven months -- on rising concerns of recession and deepening financial crisis.

Meanwhile, on the MCX counter, far-month June contract moved up by 2.10 per cent to Rs 15,039 per 10 gram, with a turnover of 370 lots, while its April contract gained 2.11 per cent at Rs 15,029 per 10 gram in a turnover of 6,221 lots

Flat Antrim Budget

Tue, 17 Feb 2009 11:22:57 UTC

Mystery surrounds the UPA government's decision to present a flat Interim Budget /Vote-On-Account (VoA) — devoid of any tax changes/fiscal measures. Standing finance minister Pranab Mukherjee has cited constitutional propriety to justify his playing by the book. Indeed, as this paper wrote in its Learning With The Times column on Sunday, by convention, a VoA is meant to do no more than simply seek Parliament's approval for expenditure to run government in the 3-4 months of the transition phase before and after elections, till a full-fledged Budget can be presented.

Just as there's nothing that stops a nighwatchman in Test cricket from scoring a few runs instead of merely holding the fort, there's nothing in the Constitution that prohibits a government from doing more. Why then did the UPA forgo an opportunity to come out with a few vote-catching fiscal proposals just ahead of elections?

It could have justified another stimulus package in the Budget in the context of the global financial crisis and the domestic slowdown in business. The Opposition, which in normal times would have been well within its right to cry foul, would have appeared churlish in blocking say, tax/duty incentives/rebates for the salaried middle class or industry or for investors given the urgent need for an economic recovery.

Do not hesitate in starting a new business

Fri, 13 Feb 2009 05:39:56 UTC

It is a known fact, that people are either involved in a job or a business to earn their livelihood. Most of the people like to work on their own instead of working under an employer. But the biggest obstacle which a person faces while starting a business is the lack of finance. This is because every type of business demands some investment. If we don't have good amount of money, then it becomes very difficult to start a new business or to expand the existing one. But that doesn't mean that if you don't have money, you can't start your own business. There are several options which help the people in this matter.

Many reputed banks and finance agencies provide business loans to accomplish this purpose. These loans can be taken in two ways. In the first method, a bank or an agency would keep any of your assets which you own, as a security. These types of loans are named as secured loans. But, if this option is not preferable or not possible for you, than also, opting a loan is possible. In that case, you can opt the financial instrument which is unsecured in nature. In this option, you are not required to pledge any asset or property. However, this option comes complimented with slightly high rates of interest. But if you are a bad creditor, then also this type of loan can prove to be of great help for you.

As such, the popular saying, 'where there is a will there is a way', gets justified without any doubt. Thus, if you are willing to start a business and you are not in situation to invest, then selecting the business loans can prove to be a fair deal. Just go to a bank or any financial institution for this purpose. You can also seek the support of the Internet. The borrowed amount can be refunded in easy installments, which any common man can afford. Moreover, if your business help you to earn more and more profits, then the repayment option will be a very easy task for you.

Current economic scenario: Indian economy still marching boldly.

Fri, 13 Feb 2009 03:12:41 UTC

In the present time, the whole world is witnessing the effects of global financial crisis. This crisis came on surface because of sub-prime lending crisis in United states of America. The situation became more critical due to bankruptcy of Lehman Brothers which was the fourth largest institutional bank of US. Since, then the Indian economy is also facing challenges of this economic meltdown. Every sector has been badly hit by this recession. Quite unfortunately, the Bombay Stock Exchange came plummeting down from 21000 points to 8000 mark.The fast growing real sector is also affected as the capital value of property is plummeting. Many construction projects are on the brink of collapse because of liquidity crunch like proposed convention centre in New Delhi, DLF mega-home project in West Bengal. The inflation scaled high on around 13% but right now the case is even worse. The information technology sector also cannot be an exception in this regard. Of late, the Satyam computer also suffered the hits of recession.

But, the Government of India has also taken many reconciliatory actions to bring the situation into normal. The RBI has made so many changes in its monetary policy. In fact, the RBI has increased the bank rate and CRR(cash reserve ratio) rate so that the inflation may come down. The Indian Government has even proposed many bailout plans to bring more liquidity in the Indian market. Many economists are anticipating that despite recession, the GDP growth rate would be 6.5-7% in current fiscal year. In my opinion, the Indian economy will soon recover its growth rhythm because of its domestic market structure. Many Indian companies are appearing on global platform to participate in the corporate restructuring i.e., merging and acquisitioning. Although, the banking sector has also been affected by the meltdown but in comparison to other nations the Indian banks are performing quite well.

Make your life better with personal loans

Thu, 12 Feb 2009 05:50:39 UTC

It is quite a known fact, that each one of us need money for some thing or the other. From small household items to luxuries, almost everything cannot be availed without money. We get involved in some kinds of professions in order, to earn money. But most of the times we need more money than we earn through profession, for the purpose of enhancing our life-style. Actually in the past, people used to take loans only when they used to suffer from a financial crush. But now, the purpose of taking loans traversed into the next level. Now, people opt for such financial tools for better living which reasonably include luxuries and other personal needs of daily life.

The loans which are taken for personal use such as purchasing a personal car or other household items, fall under the category of personal loans. Very often, these type of loans are also used for the purpose of paying off the expenses of education and medical bills etc. Usually, these type of loans are picked up as unsecured loans. As a matter of fact, the unsecured loans are referred to the financial instruments which you can take without pledging any security. The required amount would be given to you on some interest which you would need to pay after a fixed interval of time.

The personal loans help the people in fulfilling the basic necessities of life in a better way. You can give good education to your children with the help of this type of financial instrument. Apart from this, heavy medical bills in case of emergency can be paid by taking these loans. In this manner, these loans can help you to save your status and the status of your family and also for the betterment of the health of all. These type of loans should however, be taken from authorised banks and finance agencies only. Some unauthorised agencies are available in the market to lure the people. So some care must be taken before applying for such type of loans. If you opt for a personal loan with proper awareness, then this option would definitely prove to be a great help for you.

Travel insurance - Insures Life In Simple Way

Thu, 12 Feb 2009 05:02:44 UTC

In the recent time, numerous kinds of insurances have come into existence, which offer different propositions to the policy holders. People have become very smart and proactive in their approaches in order to minimise the future risks. A large number of banks and various financial associations have come into the insurance business. These firms offer lucrative and economical policy to the people in order to increase the client base in the market. Recently, the travel insurance has implemented across the spectrum of India. It has got some added advantages than other insurances. With the help of such policies, you can insure yourself from future mishaps, which may occur to you during the time of travel.

Now-a-days, accidents have become common in day to day lives. One thing which is to be mentioned with regard to accidents is sometimes you can fall in the tarp of some sort of injury while travelling due to others' mistakes. Hence, no one is secure from such happenings. Thus, who would not like to insure himself in such an atmosphere with the help of travel insurance. Under such policy, all the expenses such as medical and hospitalisation are generally borne by the insurer to the insured. The policy holder has to pay a premium to the insurer in order to continue the policy. It is also treated as one of the best ways to lead a tension-free life. Furthermore, you can find out thorough details about such policies by browsing the Internet. A large number of financial firms have come up, which provide these policies to the people through online medium. Thus, you also apply for travel insurance online. One of the most fabulous things of online services is that you can search out numerous propositions of different brands within a short span of time. Thus, you need not to walk all around the market to find out the best insurance offers.

Health Insurance: A perfect financial plan to protect you from critical situation

Thu, 12 Feb 2009 09:24:44 UTC

Human life is full of uncertainty. People can suffer from various undesirable incidents such as accident, casualty, critical illness and other such major problems. With the sudden and unexpected expenses, people at times fall in a position when they fail to bear the whole amount. In such a situation the heath insurance policy can support your both financially and emotionally. Actually, health insurance refers to the form of insurance that covers the medical expenses. This insurance plan covers long term nursing or disability needs. This insurance policy is generally offered both by the government companies or private companies. These financial plans can be purchased by a firm for its employees and individual customers also. The firm or individual needs to pay the premium amount and taxes to avail this financial plan in order, to be protected from sudden or unexpected medical expenses. This insurance plan covers various health issues such as actual hospitalisation cost that is reimbursed by the insurers for the treatment of any type of disease. This programme is also known as mediclaim plan. This financial plan works as a wonderful hospitalisation policy, by which a customer gets back the daily expenses which are incurred in the hospital. In case the policy holder needs to get hospitalised in the Intensive care Unit then he or she can avail higher daily allowance. There is provision for critical illness, by which the customer can get a lumsum amount. The policy holders of this fantastic financial plans can get reimbursement amount for serious and critical illness as per the provision of plan. Sometimes, people undergo serious surgical operations also. To cover this type of financial expenses this insurance plan would further you with the necessary support.

There are some factors that should be taken in mind while purchasing this health cover such as : (a) to match your requirement with the product, (b) total amount of coverage, (c) no of persons to be covered, (d) types of exclusions. The first thing that should be kept in mind at the time of opting this plan is the type of coverage. It means that whether you need outpatient costs or inpatient costs. The buyers of the health insurance plans can also do analysis of the circumstances in which this plans are not valid.

Credit cards: The payment method that made the shopping process easy

Wed, 11 Feb 2009 06:33:29 UTC

When people go for shopping, they use several payment methods to make payment. If one is purchasing a low priced product, then he or she often makes payment directly through cash. But, in order to purchase a product coming complimented by high price tags then you most of the times prefer to make payment through cheque or credit card.

Actually, credit card refers to a card which is more commonly known as the plastic cards are issued by the banks or finance agencies. This card is meant for purchasing the goods and services. Now, you would be surprised and the big question which would trouble you now would be 'how'? This is actually based on the promise made by the issuing banks and agencies to pay the money for the goods and services you are purchasing. After some time of purchasing the product, you would receive a credit card bill which would include the amount of the product or service you bought. Some of the issuers even add a little fee as charges in the bill.

It is quite a true fact, that keeping high amount of cash in pockets is not possible every time. In other words, just keep your credit card in your wallet and purchase the product you desire any time when you are doing shopping. The merchant, to whom you are paying, inserts the card in a machine or throw the laser beams on the code of the card and get the authorisation. As a matter of fact, payment through credit cards, can also be referred to as the best method to make the payments specially during the online purchase. For this, you have to input the code and the secret code number provided on the back of the card, and then the payment is made. Most of the merchants on World Wide Web are using this method. This method is very helpful in purchasing a product or service from any part of the world. These cards also help to activate some of the services instantly. For instance, if you have to purchase the premium service of your email account, you will just have to make the payment through the card, and your premium account will be activated instantly. I believe that the credit cards would offer the perfect method for each one of us for easy sale and purchase.

Real Estate: Badly hit by the world recession

Tue, 10 Feb 2009 05:19:33 UTC

The current economic meltdown complimented by the falling prices is further making the impact of recession felt in almost every arena. In such a situation, the realty sector cannot be looked upon as an exception. As a matter of fact, both the developers and the analysts are keeping their fingers crossed as to what extent this sector might experience the slip.

The sector of real estate in India has been badly hit by the global financial crisis. Many development projects are on the verge of collapse due to the economic meltdown. Moreover, the Asia's priciest Noida land deal by BPTB is at the point of break-up. Many giants developers are running short of liquidity. Emmar-MGF is working on commonwealth games village project in New Delhi and now it has sought loans and advances from the Delhi Development Authority. Fortunately or unfortunately, Asia's largest proposed convention centre in Delhi is at the brink of breakdown due to cash crunch. The investors are also not investing their money in this sector because of financial crisis . Property developers are reducing the prices of the property but due to meager hike in salary and job cut fears, people are hardly investing money in this sector.

India's largest construction developer DLF is also facing liquidity problem and it has lost mega home projects in West Bengal. This developer has only paid the 10 % of bid amount. Moreover, Satyam promoted Maytas infrastructure, which is also loosing its share price due to Satyam financial crisis. The property market needs to be boosted up for the benefit of both the investors and developers. However, steps are being taken in this regard as the developers are cutting the prices of their property. However, it is expected that in India the real estate sector might see wonderful growth rate in case the demand for the Information technology space rises. But, the Information Technology sector is also badly hit by the current meltdown. However, many cities in India are experiencing the decreasing value of residential properties. In Pune the high-end residential market struck by 5 % decrease in the month of September. The property markets in Banglore and Mumbai are also suffering from 3% and 4% respectively. In my opinion the Indian real estate sector will overcome these problems shortly as the Government of India has taken many reconciliatory measures.

General Insurance protects all your assets

Tue, 10 Feb 2009 03:02:45 UTC

Except life insurance all kinds of insurance policies come under the category of general insurance. It is also known as the non-life insurance policy and covers all types of financial losses. Indian insurance companies are offering various types of policies which offer several benefits to their holders. Among these plans, the most beneficial and popular ones are health, property and auto-mobile. The benefits of all these plans vary from one insurer to the another one. When it comes to the health insurance plan, some of the insurers provide coverage only for hospitalisation where as the others allow you to apply for a claim for purchasing medicines, doctor fee and other hospital expenses apart from hospitalisation. Your insurer pay hospital expenses through Third Party Administrator. Depending on your health condition, you can select the plan. Many of the government and private organisations in India are taking group health insurance policy. That means all the employees, who are working in these companies can get the benefits of it.

If you take an auto-mobile policy, it covers the damages or loss of your vehicle. Just by paying some premiums, you will get the right to claim for loss. Recently, some of the insurance companies in India have started offering terrorism policy. According to it, the people, who take it can claim for the losses like property and vehicles when the terrorist attacked on them. Apart from the above mentioned plans, there are many other policies which offer benefits to their policy holders. To have a clear view as well as to know complete details of the general insurance policies, you can surf over the Internet. You can select the best insurer without spending much time on the Internet. Some of the Internet websites allow you to fill policy application through online.

Real Estate: Healthy sign in property market

Mon, 09 Feb 2009 06:09:05 UTC

The real estate sector has been registering a fantastic growth rate in India for few years. There has been substantial boom in the real estate activities such as development in the infrastructures, residential complex, retail space development and commercial complex. The Government of India has paved the way for the rise of this sector in India by allowing 100 percent Foreign Direct Investment. The investors from all over the world have shown great interest in the Indian property market. Moreover, many world class projects are also registering huge progress such as the Delhi Metro, Common Wealth Games Village in Delhi, DLF's 500 Acre township projects in Kolkata and other such major projects. As a matter of fact, there are also several mega home projects which are in the pipeline. In this context, the Indian developers should also be appreciated as they are doing fantastic jobs. The Indu projects Ltd. has announced to build mega housing projects with 2000 properties in Hyderabad. Despite the global financial crisis, the Indian property market is performing very well and it is expected that it would provide lucrative future returns. Nagpur, Jaipur, Hyderabad, Ahmadabad, Bangalore, Kochi, Gurgaon, Chandigarh, Ludhiana, and Bhopal are among the most preferred hot spots in the property market. In my opinion, it is the best time for converting your home dream into reality because this time the realty market is offering various discounts and affordable housing schemes to the people.

However, needless to say the global financial crisis has also effected the Indian real estate market. Many contractors are facing the liquidity crunch problem. Due to the economic meltdown, many projects are on the verge of collapse like BPTB project , DLF in West Bengal, proposed largest Convention centre in Delhi. Recently, the case of Satyam crisis has also affected this sector. Actually, Satyam promoted the Maytas infrastructure but unfortunately it is also loosing its shares price. However, people can get detailed information about the real estate market by visiting online. People can know the various plans, schemes and plans that are available in the Indian market.

Home Loan interest rates have come down considerably for the past 3 years

Mon, 09 Feb 2009 02:22:31 UTC

Before 5 or 6 years, loans for home were provided at high interest rates. The boom of real estate industry in India lead to the cheap home loans. That means, now people can avail lends for home at cheap interest rates. Many of the public and private banks and money lending organisations in India are offering these lends at various interest rates. Home loans can be taken to satisfy all types of financial needs regarding your home. These needs include to build a new dwell, to renovate your old home and to paint it etc. If you closely observe the present day Indian loan market, you can easily understand that the interest rates of the home lends are slowly dropping down. The main reason for this is the downfall of global economy. As the Public Union Banks had taken decision to cut the dwell lends interest rates two months before, most of the borrowers are showing interest to take lends from the government banks. So that, they can pay less interest rates and can avail loan with flexible repayment options.

To make the borrowers more happy, the Indian Banks Association, the finance ministry and the RBI are planning to cut more home loan interest rates due to the downward trend of inflation. According to the comparative analysis that was done by the Indian Finance ministry, the home loan interest rates have come down considerably for the past three years. Low interest rates of these loans are attracting not only new but also existing borrowers. The existing customers of the private banks are finding ways to transfer to the public banks. In this regard, some of the private banks too are planning to cut down the interest rates on home loans.

Condition of the first financial market (IPO) is going to be worst

Fri, 06 Feb 2009 06:45:33 UTC

Due to the impact of global economy recession on the Indian economy, the IPO which is known as the primary market is going to be fall down. If you closely observe the condition of Initial Public Offering, you can easily find out that its position is so worse for the past 6 months. The main reason for this is global economic crisis. India's economy is inter linked with many other countries. So, the impact of economy meltdown of other countries is at high rate on India.

Generally, most of the government and some of the private companies invite the investors to buy some portions of shares of their companies. That means, the people, who purchase the shares of these companies will get some profits, if the company runs well and good. Otherwise, they loose their invested money. Before the economy downfall started, all most all the investors, who invest their money in IPO had gained large amount of profits. But, now the position of this market is reversed. The investors are not even gaining the amount that they had invested.

The market condition of the Reliance Power Initial Public Offering is a shock to the capitalists as it is not succeeded in satisfying its investors. Due to the failure of the Reliance Power IPO which is known as one of the major IPO in India, the investors, who deposited their money in other organisation have lost their hopes. The recent issue of Satyam Computers is one of the main reasons for the slow down of Indian economy. To control these type of happenings, public banks are encouraging fixed deposits by offering high amount of interest rates. If the government will not take proper action to control these conditions, India will face lot of problems in future.

Actualise your dream of a new car

Fri, 06 Feb 2009 05:58:03 UTC

Gone are those days when loans used to come involved with rigorous paper work and lengthy procedures. In the present scenario, a large number of lenders have come into being, which offer car loans at an unbelievable low rates of interest. Furthermore, the tough competition in this domain has compelled numerous lenders to lower their rate of interest in order, to attract more and more customers.

Hence, it's high time to listen to your subconscious whisper and actualise your dream into utter reality with the help of car loans. You can easily avail such loans up to hundred percent to buy your dream car at a great ease. In order, to make the matter more exciting, you can now browse multiple number of websites, which would guide you through a myriad of such propositions offered by different banks and financial institutions. You can also compare the numerous financial options in order, to pick up one of the best offers from the market, which would match your criteria to the fullest.

Thus, you no longer require to be jealous of your neighbour's car any more. This is just because, your little effort into this direction will be sufficient enough for you to obtain a coveted and enviable car to make your neighbour jealous of you. Thus, don't let your child scream while admiring the car of others. It is highly recommended that one should browse the Internet in sufficient amount in order, to catch more lucrative and economical offers from the market. You can also make comparative study of such provisions via online. It will facilitate you to grab one of the most befitting loans from the market. Recently, a large number of financial firms have come forward to offer almost several sorts of financial assistance to make our distant dreams possible. These financial companies offer numerous kinds of car loans to the people in order, to increase their market base.

Need of the hour - ur Financial partner - paisawaisa

Fri, 06 Feb 2009 03:19:08 UTC

One of the best sites i have ever seen. Paisawaisa really leading the on line community through many ways!... Make use of it right now.

Loans against property: Clear all your financial troubles

Thu, 05 Feb 2009 07:17:10 UTC

In the recent time, huge number of non-traditional loans have come up, which help the people in a great way across the world. Among these loans, loans against property are the ones. A large number of banks and financial institutions are there in India to provide these loans at quite cheap interest rates. In an atmosphere of economic crisis, the financial stability has become very precarious. It is also said that the financial stability is a dynamic phenomenon. Loans always help the people in various ways in times of needs. A large number of loans are being offered by the banks and other credit associations with friendly terms and conditions to the people. Loan against property is a quite popular one across the country. In simple terms, this loan is referred to a loan, which is offered against security. It means the borrowers has to place any one of their properties against the borrowed amount in the form of security. You can easily avail such loans from a large number of online lenders. These online websites allow you to go for a comparative study of different propositions of such loans offered by different lenders.

With the help of such websites, you can easily find out one of the appropriate and befitting loans for you as it may not possible to find out an appropriate loan by moving all around the financial shops in the market. One of the greatest advantages of loan again security is its low rate of interest. It is available at low interest rates than the unsecured loan. It is recommended that one should opt such loans as they help you to save good amount of money. These loans are considered very effective as they assist you to expand your existing business operations. You can easily avail these loans through online websites.

Real estate sector in India is booming day by day

Thu, 05 Feb 2009 06:58:04 UTC

The huge size of the territory and the enormous population of India are the facts, which have made a large number of firms across the world to understand the potential of this country. Before some years ago, this country was tagged as an agriculture-based nation. The major part of the population were semi-skilled workforce. The GDP and per-capita income were quite deplorable. The balance of payment (BOP) was also under deficit. With the implementation of globalisation and economic liberalisation in the year of 1991, India had opened its doors to myriad of multinational companies.

Before liberalisation era, the foreign investment was restricted to a large extent. Due to the advent of multiple sort of foreign investors to India, real estate industry have got the momentum in order to meet the burgeoning demand for infrastructure. It has also become one of the prominent contributors to the GDP of the country. The physical infrastructure has been consequently increased with the arrival of foreign companies. These firms needed world class infrastructure to operate their business on the soil of this nation.

Now, some changes are taking place in the contexts of India such as literacy rate, which has grown recently. Thousands of doctors, engineers and other professionals and entrepreneurs are being churned out from various colleges and institutions of the country. The income level of these people is increased. So many of them have started doing their own business, which generated the demand for infrastructure. This is why, the real estate is in the boom for many years, which also contributed a lot to the GDP of India. The growth of business application in the recent times due to the arrival of foreign direct investment as well as the growth of indigenous firms are the potentials for the development of real estate industry in India. These things are still taking place on the soil of India. Numerous firms are entering the border of this nation for the sake of business. Precisely, the entire world is observing the growing income as well as consumption levels of the population of this country.

Life Insurance: Meant For a Secured future

Thu, 05 Feb 2009 06:00:21 UTC

Life insurance is a very sensitive issue. Every day lots of people get their insurance done. Millions are spent on the insurances every year. The demand for life insurances are increasing every day.

Insurance policy helps individuals to secure the future of their near and dear ones. Though death cannot be stopped but insurance policies do help to secure the future of our family even after we are no more in the world. The life insurance's need arises the most in the case when the person is the sole bread winner of the family. After getting a policy done a person can lead a peaceful life.

Buying Life insurance policy is not an easy work to do. It requires lot of labour to search for a suitable policy. For this one has to search many information related to insurance policies before they actually opt for one. If an individual is planning to take an insurance policy, first the person has to decide upon what sort of policy he or she may wish to buy. Temporary insurance and Permanent insurance are two types of life insurance policies which are available. These kind of policies are decided depending on the persons age and policy amount.

Permanent policies can never be cancelled in any case by the company. It can only get cancelled when the person misleads the company by wrong verification. The Temporary policies are known to be pure life insurance policies. In this case policy holder does not get the cash value. The policy will get cancelled in the case when the premium amount is not paid regularly. The policies in this case is done for a shorter life span.

Nowadays, there are many companies from where one can access the life insurances with best schemes and deals. One can even buy these policies on-line. Buying the policies on-line is a less time consuming process. Here one can get lots of variety to select from. Thus one can find out the best deal from variety of options.

Automobile insurance: A simple way to protect your automobiles

Thu, 05 Feb 2009 11:35:38 UTC

Insurance is now-a-days getting quite popular in every nook and corner of the world. Recently, the application of insurance has also grown in multiple folds. Now-a-days, people have become quite intelligent and sophisticated and thinking to protect their lives. They also started taking precautionary and proactive approaches to deal with the ups and downs of their lives. Hence, insurance has got an important place. You can take the policies depending on your needs and situations.This is why, it is suggested that one should be very careful in selecting the most befitting one that matches his or her condition.

Automobile insurance is considered to be an important facet of automobile domain across the world. In an environment of rampant accidents, everyone likes to protect himself as well as his belongings with the help of automobile insurance. This insurance is offered by different banks and insurance companies to all types of auto-mobile owners. Some of the common benefits of such insurance are the financial coverage against loss of the vehicle due to some accidents and financial assurance to the bearer of the vehicle in case of some injuries. The hospitalisation and medical charges are to be paid by the insurers in some cases.

Under automobile insurance, the insured has to pay a premium to the insurer against the security coverage, which is provided by the insurers. In an atmosphere of liquidity crunch, people tend to procure such vehicle insurance in order to insure their vehicles from a large number of devastating events, which have become quite rife in the present time. On the other hand, such vehicles are also assumed to be very costly and one of precious investments of the people. So, people want to protect them with the help of vehicle insurance. In this modern world numerous websites have come up to provide all the needed details and information about these sort of insurances. Moreover, one can also apply to take this insurance policy via online in an informed and confident way. Further more, these insurances do not involve any lengthy process of documentation.

Business loans help you to develop your business

Wed, 04 Feb 2009 06:43:12 UTC

Loans are of various types, which are available in plenty in the present day loan market of India. Recently, a large number of financial associations and banks have come forward to offer multiple sort of loans to the people so as to enable them to meet their financial turbulent situations. Business loans are quite popular across the world. In the present scenario of economic meltdown, these loans have got some added advantage in order to provide financial help to our businesses in various ways.

It is said that business is such a thing, which may not be stable forever. A large number of banks and financial institutions have come into existence, which offer business loans in different propositions. It is quite clear to one and all that finance is the blood for every kind of business. Absence of finance may give cutting edge to your competitor, who can take it as a chance and tries to out perform your business. Thus, it is a paramount important to maintain proper working capital to run the business smoothly. In an environment of cut-throat competition, it has become much more important to have proper amount of liquidity to thrive well. A large number of online portals have taken place in the recent years, which provide all the minute details about such loans in sufficient amount.

You can browse these websites to find out most appropriate business loans in order to meet the demands in an immediate and effective way. These loans can be availed by partnership firms, private limited firms, individual professionals and many others. These loans are considered very handy and effective to uplift the existing business operation or there might be many more purposes for taking such loans such as buying new land to open an office and to purchase machinery etc. moreover, these loans are available in plenty and are being offered by different lenders with less documentation and speedy process. Thus, these loans help you to fulfill your ambitions and aspirations of expanding your existing business operation.

Experience the supreme flexibility of Banking services with Online Banking

Wed, 04 Feb 2009 05:57:01 UTC

Banks in India have been serving people in a great way for many years. At first when the banking was formed in India, they allowed the people to save money by opening saving accounts. When the banks were nationalised, from then government of India took many steps to develop the banking services. So, now the public and private Indian banks are offering several types of services to the people. These services include offering loans, mutual funds, allowing you to open current account and Fixed Deposit account etc. By providing all the above mentioned services, banks in India are trying to solve all types of financial needs.

The advent of the Internet brought unbelievable changes in the banking sector of India. Via the online banking services, you can complete all your transactions without visiting the bank. No need to go to the banks to draw money as they provide ATM facility to their customers. By using this facility, you can draw money wherever you are and whenever you want. ICICI, one of the leading banks in India recently launched an online interaction website that allows the customers of this bank to communicate with the bank employees without visiting the bank. One of the most beneficial banking services of India is establishing customer care service centres. By making a phone call to these centres, customers can clear their doubts and can solve their problems in an instant way.

Some of the well-known Internet websites are providing information of all the banks and are assisting the people to open a fixed deposit, saving account and current account via online without visiting the bank. They also allow you to apply for a loan to any Indian bank.

Fixed deposit: A safe way to keep money

Tue, 03 Feb 2009 05:24:43 UTC

A fixed deposit refers to that type of account that allows the customer to deposit your money for a set period of time, thereby earning you a higher rate of interest in return. It also gives you a higher rate of interest than an ordinary saving bank account. Anyone can open a fixed deposit account with the intention of retaining their savings for a fixed period of time for some future use. In most of the cases you will get the interest amount once in 6 months. You can also avail loans up to 80% of the principal.

All the fixed deposit accounts come with a set choice of investment plans. Re-investment plans are compounded over traditional deposits and therefore they are referred to as more lucrative over different options. These types of accounts come with a nomination facility also. FDs are now looked upon as a great option to earn more interest on the savings than the traditional saving accounts.

Due to the bad situations of the present global share market, it has been forecasted that the economic condition of India might not suffer that much set-back. In this situation, the option of fix deposit is looked upon as the only safest measure that can secure your investment. There are many public and commercial banks available these days that offer several types of fixed deposit programmes for all types of customers and investors. The fixed deposit programmes of the various banks are one the most common savings programme, which can be opened by all types of investors. These deposits also give the customers higher rates of interest than the traditional saving accounts. However, such facilities would plainly vary from bank to bank or customer to customer.

If you believe in long-term investments and wish to earn higher interests on your savings, now is the high time to invest your money in fixed deposit account and get 8.50% to 10.50% yearly.

Travel insurance: Put the stress to the rest

Tue, 03 Feb 2009 03:43:29 UTC

Insurance has become quite popular in India in the recent years. Earlier people were not exposed to the advantages of insurance at large. But as the people started becoming enlightened and sophisticated, they started obtaining such things in their lives to feel difference. The population in general have become quite literate and comprehensive about such products, which they have started to procure recently in their lives. Insurance policies usually come in various types, which are taken by the people to cope up with their situations. In the recent years, a large number of online portals have come into existence, which provide all the specification and information about various insurances such as travel insurance, medical insurance and so on.

These insurance policies have become quite essential nowadays, as large number of people, want to insure themselves against numerous casualties, which are taking place every now and then. In this regard, travel insurance can be referred to as highly useful for numerous people whether they are businessmen, students, travellers or whatsoever they are, who are in dire need of such insurance policies as they need to travel frequently. Nowadays, accidents on roads have become order of the day and as such under this context a very pertinent thing needs to be clarified with regard to the accidents and that is we cannot afford to fall prey to such incidents.

In such scenario, every intelligent person would like to shield themselves to lead a safer life in such an accident-prone world. Such insurance policies provide comprehensive coverage to the insured such as medical expenses, loss and damages of luggage during traveling. In simple terms, a travel insurance policy is referred to the coverage for accidents or sickness which take during the time of travel. Hence, it covers expenses such as intensive care, hospitalisation along with other associated expenses, which may come under the purview of such insurance policy. Thus, it is up to you to decide whether you would like to bear all such expenses on your own shoulder or rather you want to put them on others. Finally, it can be said that an intelligent person should leave no stone unturned to save off his skin from all such anticipated calamities.

E-taxation: Stress-free and user-friendly way to pay taxes

Tue, 03 Feb 2009 12:07:50 UTC

As everyone knows that one of the main resources of the Indian economy is tax. So, government of India pays full attention in collecting all types of taxes like individuals, professionals and employers in a systematic way. In India, state government, central government and local government organisations collect taxes from the people.

Generally, people has to visit tax payment offices to pay the charge amount against their property or the activity for the supports of government. To do this, they have to stand in long queues and have to fill an application form by mentioning all the tax particulars. It takes much time to complete all the formalities. To avoid all these inconveniences and to facilitate tax payment in an easy way, some of the websites over the Internet are introduced e-taxation service. These websites help you to pay amount directly to the government without visiting taxation office. E-taxation is nothing but paying tax through online. So that, the people, who want to pay charges are no need to stand in long queues and no need to complete unending formalities. Just by spending 2 or 3 minutes in front of your computer, you can pay tax without any hassles.

One more advantage of paying tax through online is that you can calculate the tax amount with ease, before going to pay. There is no necessity to follow the particular timings to pay tax as the Internet websites allow you to pay whenever you want. One important thing you should keep in mind, before going to pay tax via online is that you should take care in selecting the website. Select the reliable and popular website to avoid hassles. Do not forget to take the print out of your payment as it is a proof of your payment. It is so simple to pay tax on the Internet. Just by visiting a website you have to mention the required details and your debit or credit card number . With in a snap, the tax amount will be deducted from your account and you can take the receipt with the help of the printer.

Economical home loans to encourage the extent of ownership

Mon, 02 Feb 2009 06:37:48 UTC

Loans are always letting their presence felt in multiple forms by helping people in different ways. As the economy is growing prosperous, the demand for home loans have also raised up in the recent years. People in general have become very rich and fashionable and as such they do want to possess their own independent home. There has also developed a huge trend of exodus from villagers towards big cities. These population have also created a huge demand for homes, as they are getting rich day-by-day. A huge number of financial associations and many banks have joined the fraternity of loans. These associations are offering lucrative loans in order, to attract the customers very steadily. In short, a huge chunk of population have become quite rich and moneyed and consequently, they want to possess their own home. Observing these demands for home, numerous new financial associations have come forward to offer quite economical and lucrative home loans to the people to let them realise their dream of most lovable and cherished homes. Home loan is a part of personal loans, you might either take it in the form of secured or unsecured loans depending on your financial condition.

Usually in the case of secured loans, one has to pay a bit more interest rates in comparison with secured loans. Thus, in both the way, you can easily obtain such loans to make your most cherished and eternal dream of home entirely possible. Furthermore, the tough competition in this domain has further lessened the interest rates of such loans to a large extent.

To make certain matters more easy and approachable, numerous online vendors have come into existence, which provide every required information of different loan packages from different brands. You can easily find out the needed information and knowledge about various loan packages within few minutes. Thus, you don't have to walk anywhere in the market to get one of the best loan packages. With the help of the online portals you can also do a comparative study of such loans as well as grab the most lucrative package of loans from the market.

Credit cards: Solve your financial problems instantly

Mon, 02 Feb 2009 04:17:29 UTC

In this modern world, credit cards are helping the people in a great way. They are acting like the best companions by satisfying your financial needs. Especially, in India, most of the people are showing interest to have a credit card as these plastic cards help them financially. Some people think that using credit cards means drowning in debts. In my view, this is a wrong conception. Because, only some people, who misuse these cards will face financial problems. This is not happening with all the people, who owned charge cards. Using these cards in a right way, you can get more benefits.

To meet your urgent financial needs in an instant way, it is better to have a credit card. There are several companies and banks in India are providing different types of cards in the market. Among these, ABN AMRO, ICICI, HSBC, AXIS bank, Standard Chartered, HDFC and State Bank Of India are some of the popular ones. No need to get any confusion and no need take the assistance of executives in selecting the best charge card. Just visit the reliable Internet websites, that are tied up with trusted organisations. These websites provide all the detailed information about all the plastic cards that are available at present in India and allow you to surf through the wide range of options. One more advantage of visiting these sites is that they help you in comparing various types of cards. So that, you can select the right one depending on your needs and financial capacity.

Do not think that plastic cards comparison takes much time. Just by entering the name of the card provider, card category and current acceptance, you can find the information on your computer screen with in a snap. These websites also help you to find the cheap credit cards. To avoid risks, it is better not to reveal your card number to anyone.

Enduring the current economic hunch

Mon, 02 Feb 2009 02:21:32 UTC

Despite the crepuscular current economic scenario, which is persisting in our country, life is however gradually bankrolling to compos mentis. In the archaic times, we have witnessed a declivitous ebb in tumefaction. In addition to it, our pro active Indian Government also conformated a overhauled key rate policy regime for the revival of our economy. Adding more fuel to the fire, the slash in petrol, diesel and LPG prices recently have proved that our Government is seriously worried about the present economic situation of our country.

However, even after dogging attempts and the implementation of the so called effective measures, the entire plan of action hasn't been able to resuscitate the fate of the economy. Let us take the example of the Real Estate segment. The once blooming, revenue generating sector is now under the effects of botch and rather abominably, even the trimmed down rates of interest for home loan products, offered by the entire banking camaraderie has not been able to bring any sort of development in this field. Moreover, these much-plugged rate hacks have not even raised the demand levels of the properties, leading to the evolution of a chaotic state in the entire real estate sector.

Moreover, the chop in the fuel prices has not affected the consumption commodity price levels which are still wavering in skies, thereby giving no pity to the common household. This staggering apocalypse exposes the arrant reality of the changes that we have been talking about in the recent times relating to the current economic scenario of our country. Although, the exertion of these measures is reassuring, but still there are miles to cover for providing the desired persuasiveness.

Thus, it would be much wiser on our part, if our Government also pays some fragments of its total attention span to this issue. Since, thereby only declaring maneuvers will not retrieve the desired performance. The recent Satyam scandal has already dented the global industrial image of our economy and this one incident also has the potential to affect our current economic scenario in some way or the other.

Life Insurance, a furbelow sector playing the role of a Saviour

Fri, 30 Jan 2009 06:56:23 UTC

You must have heard about the tragic incident of Heath Ledger? This famous Hollywood actor passed out at a tender age, his life insurance company managed to settle a gruesome $10 millions after a long suit. Such is the priority of this insurance. No matter, how filthy rich a person is, he is always cautious about the unwanted circumstances so that his family will be secured after he is gone. People of all living standards choose to avail such policy in order to save their families from financial disasters.

Earlier, when the insurance industry came into existence and was granted a national acknowledgment in the year of 1972, at that time only insurance companies which were run by Govt. offered life insurance policy. But, now numerous private firms and banks have come up to provide this insurance in India due to its growing demand among the people. To offer superlative allowances of this policy, most of the insurance companies in India introduced various types of policies such as whole life, term life, endowment and money back policies. An individual can avail any type of policy determining his annual income and gratuity.

In India, there are various types of insurance policies which can be easily availed by anyone, depending on his positions and requisite. Other than such types of insurance, insurance policies also include home insurance, life insurance, health insurance, auto mobile insurance and travel insurance. Except life insurance, all other policies comprise under the pigeonhole of general insurance. The Indian insurance industry has witnessed a rapid growth and is embellishing with a new sunrise. All financial firms dealing with insurance policies have indulged themselves in the rat race to grab maximum bucks to their pockets.

Due to the growing demand, in order to lure clients, some of the insurance companies have started offering riders along with their life insurance policies. Some of the riders are the Life Guardian Benefit Rider, Accidental Death Benefit Rider, Hospital Cash Benefit Rider and Term Rider. Just by paying some extra amount for rider, the clients can add more cream to his benefits.

Some of the well-known and trusted Indian insurance companies are the LIC (Life Insurance Corporation of India), HDFC, ICICI, United India and Bharathi Axa. Before availing such policies, we should have a detailed study in order, to grab maximum profits.

Structure of Stock exchange

Fri, 30 Jan 2009 06:02:02 UTC

A stock exchange or share market is a corporation or mutual organization that provides trading facilities for stock brokers and traders, to trade stocks and other securities. In general term, it is a marketplace where dealers and brokers meet to sell and buy stocks of publicly traded companies on behalf of investors. The stock and bond sellers come together to trade during specific hours on business days. The Bombay Stock Exchange is the first Indian stock exchange to incur permanent recognition from the government of India under the securities contracts. The Bombay Stock Exchange played a vital role in the development of the capital market of India. The exchange has a nation wide reach with a presence in 417 cities and towns of India. It offers an efficient market for trading in derivatives, equity and debt instruments. Presently, the Indian Stock Exchange consists of 23 regional stock exchanges and 2 national exchanges. The two national stock exchanges are the OTC (Over the Counter Exchange of India) and NSE (National Stock Exchange).

The stock exchange allows the companies with the facility of crumbing high capital for enhancing the rate of selling shares so that the people who want to invest their money in the market can do so quite easily. Bonds and stocks have values, which are fixed at the commencing of each trading day and they rise and fall depending on the company structure. The bonds and stocks are sold and bought at the exchange through the brokers, who works for different-different companies. The stock exchange is not a type of supermarket that is opened for the general public. There only few people who are allowed in the stock exchange and they include brokers and investors. If you are looking to sell and purchase stocks and bonds, you can contact the brokers, who are working for companies, and they would readily assist you in the stock market in order, to sell and purchase a specific stock at a particular price.

There are so many stock exchanges around the world like London Stock Exchange, Tokyo Stock Exchange and many more. Because the stock exchanges play a vital role in the development of any country, the whole economy of the country depends on the share market.

IPO :Reaching new milestones

Fri, 30 Jan 2009 04:36:58 UTC

In the recent times, a large number of new financial instruments and provisions have started cropping up, which have revolutionized the world of business such as IPO that stands for Initial Public Offering. Nowadays, businessmen have become very intelligent and shrewd, that they do not leave any stone unturned, to further expand their business ambitions of expansion and growth. They are resorting to such financial means in order, to expand their existing business.

In simple terms, the Initial Public Offering is referred to as the first issuance of a firm's share to the general public so as to garner funds from them. These shares are bought and sold in the stock market. IPO is offered by the companies basically to raise enough capitals for the firm. The gathered funds from initial public offering are then used to further expand the business operations. Nowadays, most of the companies all around the world offer IPO to raise capital for their firms in order, to increase the business. For minute details about such offers, you can browse many website where you can learn a lot. Numerous websites are available online, which would provide thorough information about Initial Public Offering. You can also apply for such shares by these websites. For the issuance of Initial Public Offering, the concerned company has to get many investment banks as underwriters. These underwriters are meant to access the business background, operational efficiency and financial position in order, to decide the value of the company shares to be brought to public to be sold.

After this procedure, the company has to sign an agreement with the lead underwriters to sell shares in the market. and subsequently, the underwriters will go ahead to sell the shares to the interested investors. Hence, an intelligent recourse to finance!

Banking services: Overcoming the barrier of financial needs

Thu, 29 Jan 2009 07:08:41 UTC

In the recent times, a large number of banks have come into being, which are offering quality services to the people. The importance of banks in the recent time seem to have grown tremendously into multiple dimensions. On macro level, it can be said that the banks are regulating and operating the liquidity of an economy. With the help of banking services, anyone can obtain desired amount of funds to cope up with personal as well as business needs. Some of the basic services of the banks such as loan and insurance provisions and various others services such as ATM card facility, which the bank account holders are given by the banks so as to enable them to withdraw any amount of money from the banks at their will. In the absence of banking services, it would have been very difficult to maintain the proper liquidity flow in the market. Some of the accounts, which are offered by the banks to the people as per their needs and wants are saving accounts, current accounts etc. These accounts are very useful and beneficial for the people. With the help of these accounts, they can avail funds from the banks as and when any type of need arises.

The saving accounts are very poplar options offered by the banks, which allow the account holders to deposit their surplus amount in the banks and simultaneously the account holders are allowed to do as much transactions as they wish to do with the help of the ATM card. One of the most astonishing aspects of banking services is that the banks support you as one of the best safe lockers for your money. There is hardly any place, which can be this much safer for you to deposit your money. The current accounts on the other hand, are very helpful and beneficial for businessmen because with the support of such accounts they can do unlimited number of transaction in single day. In a nutshell, it can be said that the banks facilitate our business activities in various ways. If you are in a dire need of money, you can draw required amount of money at a very feasible provision of repayment. Thus, the banks are to help us overcome our financial needs and also facilitate us to earn money on our money in the form of interest if you deposit your amount on the banks.

The modern day story of Credit card

Thu, 29 Jan 2009 06:29:50 UTC

People in India, have always been skeptical when the concerned mater is related to money aspect. Credit card instrument is one of it. One of the widely used financing instrument used in the modern-day economy, credit cards has emerged as a sure shot answer for short term and sudden debt-related problems. Though, in India, itself, this concept of credit card did not took a flying start, as it did in other parts of the world but slowly and gradually it did managed to carve out a niche for itself and today is one of the frequently-operated financing instruments to overcome the financial constraints.

However, in recent times, i.e., the last year and so, credit card business in India did take a beating after the problem of liquidity deficiency surfaced. This crisis which is still going on, send a large number of credit card service providers packing. Although, situation in India did not became that bad, courtesy to our strong banking framework which circulates around the nationalised banking concept which did minimised the magnitude of the impact to a large extent. The best part of the whole situation is that people witnessed the pro-active side of our government which pressed the panic button just in time, to negate the negativity of the situation and implemented evasive action plan to make sure that the economy survives the catastrophe.

It was this recession or the absence of liquidity state which made people understand the delicate side of using credit cards. Nowadays, people have become more cautious regarding to usage of credit cards and the ongoing liquidity crisis is certainly educating them a lot in this regard. Thus, every credit card user is advised to adopt this route only when he is completely sure of himself and knows all the intricacies of its usage so that it can serve its purpose excellently.

E-tax filing : Enjoy the extra factor

Thu, 29 Jan 2009 04:55:38 UTC

The concept of tax, has always been a very clumsy subject to understand for almost 51% of people. This is because this complicated issue needs to be understood logically. A learned person should understand the importance of paying taxes on time, as this factor helps in developing the infrastructure of the country. However, you must understand the basic reasons for which you should pay taxes and not behave like the proverbial frog that gradually turned up from the pot of cold water, by ignoring the heat and later suffered due to negligence.

Keeping all these issues apart, one cannot ignore the fact that paying the tax amount is also a very complicated issue. However, the 'e' process i.e., the Internet procedure has also fortunately entered into this business. Now, standing in long queues for filing the tax manually would definitely become the tale of the past. As a matter of fact, the E-tax filling procedure has been introduced by the tax department to ensure greater satisfaction of the citizens. Quite interestingly, this decision of the tax department would be implemented in all the states. This 'e' process is very simple and would not consume much of your time. As a matter of fact, a registered trader can comfortably file his tax returns with the hep of his digitised signature. However, he would also require to log onto the website of the tax department and then also get a print out of the hard copy of his filed return.

In this regard, it must be mentioned that in order, to enjoy more benefits the trader should possess a valid TIN No. One thing, that cannot be forgotten is that the traders should maintain their digital signature in a very careful manner and it would be better if the same is stored in a pen-drive.

The safest bet

Wed, 28 Jan 2009 04:17:43 UTC

Many people want to increase their money and as such they keep on searching for the best and quickest methods. Many instruments and mechanisms have also cropped up and some of them even exists which lure the people to take part and which promise the people to increase their money. But many of these mechanisms are fake or have no or little gain. Moreover, the instruments which are known to produce good results also come associated with some major risks. One such medium is the stock market. People invest their money in shares and bonds in the stock market hoping to earn some quick money within few hours or days. But most of the times a novice or an unfamiliar investor ends up in losses, even some veterans lose their money and savings in the stock markets, sometimes. So, how do we invest in the stock market? One of the best and safest ways to earn more money in stock market is through mutual funds.

Mutual funds may sound a bit difficult and complex method to indulge in, but I assure you, its one of the simplest, easiest and safest mechanism to invest and grow your money. These funds are generally managed and maintained by a company or a trust. People invest their money in these trusts after the public invitations have been made by the fund companies. The money invested is then put into the stock market for buying different shares and bonds. The investments are not concentrated on a particular share or bond, they are usually invested in several securities. The allocations of these investments are also done by expert and experienced market investors and analysts.

One can have various benefits from the so called mutual funds. People can have investments in several shares at the same time as the money is spread into the market by the funds. This is impossible for one single investor as the cost of investing in several shares may be really high. As the money is spread into the market, the risk of losing money on one share also decreases. The investors also get the luxury to invest small amount in these funds. Investors also get tax redemption on their invested amounts. The funds are also safe to invest as they are regulated under the strict supervision of SEBI.

The truth behind the current economic scenario of state

Wed, 28 Jan 2009 03:39:30 UTC

Despite the gloomy current economic scenario, prevalent in the country, things are returning back to normalcy, slowly and gradually. In the recent bygone past, we have witnessed a steep decline in inflation. Plus, very recently, our pro-active government implemented a revised key rate policy regime for the revival of our economy. What more, recent slashing in petrol, diesel and LPG prices have proved the fact that our government is quite concerned for the people of our country.

However, even after persistent attempts and the implementation of so-called effective measures the entire plan of action hasn't been able to resurrect the fortunes of economy. Real estate segment is one prime example of it. The once-blossoming, revenue-generating sector now lies in shambles and rather unfortunately, even the trimmed down rate of interest for home loan products offered by the entire banking fraternity hasn't brought any sort of improvement in the segment. What more these much-hyped rate slashes hasn't even spurred the demand levels for the properties, leading to the evolution of a chaotic state in the entire real estate sector.

What more the slash in the fuel prices hasn't impacted the consumption commodity price levels which are still hovering in skies, leaving the common household at no mercy at all. This staggering revelation exposes the stark reality of the changes that we, people of India have been talking about in the past some time relating to current economic scenario of country. Of course, the implementation of these measures is encouraging but still very far from providing the desired effectiveness.

Thus, it would be much better if our government pays some fraction of its total attention span to this issue, too. Since, merely declaring measures will not fetch the desired performance. The recent Satyam scam has already dented the global industrial image of our economy and this one incident which has also costed our economy, dearly.

Car insurance: Insure your cherished automobile

Tue, 27 Jan 2009 06:27:16 UTC

In an era of widespread economic gloom and doom, the importance of finance seem to become quite acute. So, who would like to incur financial trouble, which might occur at any time even with regard to your cherished car, which can be in the form of accident, which has become an order of the day, of late. A personal car usually demands hefty investment, and as such people naturally like to insure this asset from a large number of risks. The car insurance has become quite popular throughout the world. Numerous firms have even ventured into this domain. They offer lucrative automobile insurance policies to the people. As per the huge demand for such insurance policies, numerous new insurance firms have cropped up in this sector in order, to fulfill the the tremendous demand for car insurance. By the dint this insurance policy, you can run your car freely anywhere without any second thoughts. With the recent pace of development in the fields of computer and Internet in association with software, numerous online insurance firms have come up, which offer every minute details about such insurance policies to the people. You can even easily compare various insurance policies within few minutes by browsing the Internet. A car insurance policy is very important nowadays, because it can save your car from a huge number of possible troubles. In case of accidents, the insurers will bear all the expenditures, which your car may entail during an accident. This insurance policy has caught the momentum everywhere across the world. It is suggested that one should be careful while selecting any insurance policy. Numerous online insurance vendors have cropped up in this realm, which readily offer attractive incentives to the needy people. It would be much more better to contact an appropriate online insurance vendor, which can assist you to find out the most lucrative insurance policy from a large number of different insurance prepositions offered by different brands.

Personal loan: An ultimate solution for all your needs

Tue, 27 Jan 2009 05:02:05 UTC

The loans are basically used to wipe out the tensions of financial instability. Generally, banks and financial institutions come up with many types of loans to the people such as personal loan, student loan, home loan and also marriage loan. The personal loans are the most popular form of loans. People avail these types of loans for meeting their various personal needs and requirements. Presently, the unemployment and inflation problems are increasing day-by-day throughout the world and this in turn seem to enhance the demand of the loan in the market.

Basically, there are two types of personal loans available in the market such as secured personal loan and unsecured personal loan. To get the secured personal loan, the loan applicant must pledge a security, but no guarantor is required for approval. You can even easily avail these loans by pledging a security and are referred to as a good option when large loan amount becomes a must have in order, to wipe out the financially unstable situation. These type of loans are very helpful when you need to make a major purchase. The interest rates of these loans are generally lower than other types of loans. People can easily get a loan through a national or international banks, financial institutions, financial companies etc. Under the unsecured personal loans, borrowers often have to pay higher interest rates, as the lenders have no security from the borrowers.

The cycle goes like this- the lender provides money to the borrowers as a form of loan and the borrower pays back the loan amount. But generally, the payment will be in the form of monthly instalments. All your personal and financial needs and requirements can be easily solved with the personal loans. For example, if you are planning to purchase a brand new car, these loans would perfectly suit you. You can easily purchase a car with the borrowed amount. But there are some criterion for getting these loans such as your age should be above18 years, you should have a valid bank account, identity proof, address proof and a good job or personal business.

You can also avail the these loans from various online websites. Furthermore, the personal loans are the best options to fulfil your dreams and one can easily avail them without any troubles.

Banking services: Keep your money in safe locker

Tue, 27 Jan 2009 02:56:57 UTC

Gone are those days when people used to store their surplus amount in temples and in various other places, where people used to hoard their money, jewellery for the sake of security because in those days, no alternative options were available. As a matter of fact, in those days the banking services were not available. But in the present era, numerous banks have come into play, which are regulating all the financial tools of a country. These banks maintain and regulate the liquidity of a country.

Presently, ample number of financial institutions have cropped up, which regulate the financial flow of the world such such as World bank, IMF etc. The banks are considered as the safest place for keeping the amount, where your amount is altogether safe and secure and simultaneously, your money in these banks would fetch you with some rates of interest. Thus, it's like killing two birds with one stone. As a matter of fact, one of the greatest advantages of keeping the amounts in banks is that they will earn a rate of interest which would be certainly profitable. Some of the services of the banks, which are commonly used by the people are as follows a safe treasury for your amount, these banks would even lend you various types of loans which would support you to cope up with your unfavourable situations such as secured loans, unsecured loans, business loans, home loans and innumerable lucrative policies and financial instruments such as mutual funds, ULIP plans, issuance of bonds, security and so on. These financial instruments are very beneficial for earning quick money. Furthermore, talking about banking services, which banks provide you such as several accounts like saving accounts, current accounts and many more. With the help of these accounts you can safely store your amount in such banks and earn interest. One of the most lucrative services of banks which would assure more comfort and convenience is due to the technological development in the fields of computer and software and availability of numerous ATM machines. With the help of such devices you can withdraw your amounts anywhere at anytime throughout day and night. Quite interestingly, these systems are widely available in every nook and corner of the world to offer you class apart performance.

Credit cards: A modest way for shopping

Fri, 23 Jan 2009 06:52:59 UTC

A credit card is a very sleek plastic card with a magnetic strip containing data, and is a financial instrument allowing the card holder to pay for goods and services on credit and in place of cash. The credit cards are issued by the various banks and increasingly by retail outlets and other consumer-oriented entities. In general term, “a credit card is a small plastic card with some numbers embossed on it that helps the card holder to purchase the things with no requirement of cash in pocket.”

Credit cards allow the people to purchase goods and services immediately and then settle the bill for aggregated transactions at a later date. On the other hand, the debit cards permit the customers to purchase goods by using funds which would be directly debited from their bank account.

Besides being convenient, the credit cards permit the customers an easy-way-to track expenses that might be beneficial for both monitoring personal expenditure and the tracking of work-related expenses for taxation purposes. Credit cards are acceptable worldwide and are available with a large form of credit limits and repayment arrangements. This is a simplest way, which would even fetch your spend money back under certain beneficial schemes such as cash back credit cards. Most of the credit cards give the users a percentage of the total expenditure back usually 1-2.5%.

There are numerous types of credit cards available in the present day market that is provided by public and private banks. The categories and credit limits of these cards are completely dependent on the customers bank account and status. Platinum credit card, Golden credit card, Silver credit card, Shopping plus credit card and many more. All these cards are available with different-different credit limits, which would depend on the user's expenditure.

The credit card system is completely based on online medium. So, error in monthly statements are normal thing. If in any case, the users have realised any fault in their credit card statement, they must report about the error to the concerned credit card company or bank within 60 days of statement generated. Furthermore, the credit cards are one of the easiest and fastest ways to purchase products.

Loans against property is available at cheap interest rates

Fri, 23 Jan 2009 05:13:45 UTC

When it comes to the loan market of India, you can find various types of loans. As the numbers of lenders is increasing rapidly day by day, Indian loan market is flooded with cheap loans. To avail a loan in India, you have to select any one of the loan forms such as loan against property and unsecured.

If you have a clear knowledge about Indian loan market, you can easily find out that most of the borrowers in India are willing to take a loan against property. Because, it is available at a low interest rate and convenient repayment options. To get this loan, you should have valuable properties of your own as you have to submit any one of your valuable properties as a security against loan. If you do not repay the loan amount in time, your property will be taken by your lender. All most all the money lending organisations and banks in India are offering these loans. The main advantage of taking a loan against property is that the borrowers can avail high amount of loan at a very low interest rate. Moreover, the borrowers can select any one of the repayment modes according to their convenience.

Now, most people are using online services over the Internet to avail these loans as the lenders are providing complete structure and rules of the loans over the Internet. So that, the borrowers, who want to avail a loan are no need to visit their lender again and again. To select a cheap loan against property lender, you can use interest rate comparison tool features that are provided by some of the websites. Some sites will not allow to compare interest rates until you register your personal details where as the others allow you to compare interest rates without any restrictions.

If you search for a good lender over the Internet, your valuable time will be saved.

Mutual fund: A great source of fund generation

Fri, 23 Jan 2009 12:12:06 UTC

Nowadays, a large number of financial instruments have cropped up in the market to ensure healthy life-style for every category of people. As people are growing intelligent and sophisticated, they have evinced huge interest towards numerous new financial tools such as mutual fund, for generating quick revenue out of their money. Gone are the days, when people used to keep their money in banks for the sake of meager interest and safety.

But with the passage of time, an ample number of new avenues have come into being, which are very useful for earning quick money like mutual fund. In simple terms, it is a pool of money invested by a pool of investors, which is efficiently and professionally managed for the advantage of all stakeholders. The collected amounts are then invested on various fronts such as bonds, stocks and many more places, where these amounts grow and as such assure good amount of return at ease.

Numerous companies have come forward in this domain for offering lucrative advantages to the prospective investors. They are very financially expert, as they know when and where to invest these pooled amounts so as to enable the shareholders to get some dividends on their invested money. A large number of financial firms have even started offering these services online. Thus, one can easily find out all the details about these financial instruments. You can also derive financial expertise via online portals about your plans of investment from numerous financial experts. This investment instrument has been quite appreciated throughout the world. A large chunk of the population are investing their hard-earned money in such financial instruments. The mutual fund offers several advantages to the investors like systematic diversification of the funds, professional and market-savvy management and good amount of dividends on your funds. It is well understood, that one cannot do all these planned things on his own. However, numerous different proposition of such financial tools have come in the markets. Thus, you should be very careful to select the best category of financial instrument, so that it can profit you a lot. You can easily invest in these instruments via online in few minutes.

Current economic scenario of India

Thu, 22 Jan 2009 05:40:49 UTC

Now, it is known to almost everybody that the morbid recession period is not yet over. The government bodies of different nations all over the world and even our government are taking many serious measures to accelerate the economies of their concerned nations. But the sub-prime crisis impact was so huge that we have been successful only up to a sure level. India is a secular democratic country. This means, it never gives priority to a specific cast & creed and the government of India is elected by the people of India. The growth of any country depends on its economic position. The Indian public and private sector are also developing, and so, we can say India is marching forward on its path of development. Although, the Indian economy has been facing various problems such as illiteracy, unemployment, political imbalance and poverty for many years, it tried its level best in developing the science and technology fields. But, now, because of the global financial crisis and unstable position of the current share market, most of the Indian industries are endeavoring hard for their survival.

Recently, the Indian IT domain has been subjected to an endless series of setbacks, leading it into an oblivion. Some of the famous and well-stable IT companies such as Satyam, WIPRO and Mega Soft have been thrashed for showing wrong accounts for many years. The share holders, who invested their money in these IT companies by buying the company shares are now striving hard to find out ways to get their money back. The World Bank on the other hand canceled all its upcoming projects, which were already allotted to these IT companies.

According to the economic experts, India's current economic position is going down. But the banking sector of India is growing continuously because it is one of the safest places of investing money. The Union Public Banks are also trying to balance the economic conditions of India by taking some essential steps. Furthermore, the Indian public banks are offering high amount of interest rates for their customers, in order, to attract the people to invest in fixed deposits. Recently, the Indian banking industry has grown by over 25 % and there is no reason to restrict this trend. Generally speaking, the health of Indian banking industry is good. and is expected to enhance even more.

Avail Home loan at competitive interest rates

Thu, 22 Jan 2009 05:08:49 UTC

Naturally, everyone desires to have a own home. But, only some people can fulfill their desire as they have enough money to build or purchase a home. To offers financial help for the people, who cannot buy a home by paying full amount at a time, many of the lenders and banks in India are offering home loans in the Indian loan market. As the lenders are providing home loans at cheap interest rates and flexible repayment modes, most of the people in India have started taking loans for a home. Due to this, the real estate sector of India is developing day by day.

To avail a home loan, you should pledge any one of your personal properties as security for a debt. In case of your loan amount is not paid by you in time, your lender will have the complete rights on your property, which you have submitted as a security against a loan. Some of the lenders in India are offering fixed interest rate home loans, where as the others offer floating interest rate loans. Recently, all Union Public Banks in India have cut down the home loans interest rates. This is a good news for the borrowers, who are wondering to take home loans at cheap interest rates. As the number of lenders is increasing day by day, even the top position lenders are offering home loans at competitive interest rates. While filling the application from of a home loan, you should mention the purpose of taking a loan. Depending on your financial position, you can select any one of the repayment options. If you want to find the full details of all the lenders, who provide home loans in India, you can visit the trusted websites over the Internet. These websites allow you to compare the quotes of all the lenders. So that, you can select the lender, who offers home loan at low interest rate. Some of the home loan lenders are offering free insurance. To avoid troubles in future, know full details about the lenders before going to apply for a home loan.

The way of trading in Indian Stock Exchange

Thu, 22 Jan 2009 11:28:43 UTC

A stock exchange is an association, institution or organisation that hosts a market where bonds, stocks, options and futures are sold. Sellers and buyers come together to trade during specific hours during business days. In general term, a stock exchange is a place where stocks, bonds, or other securities are bought and sold. The Bombay Stock Exchange is the first Indian stock exchange, to obtain a permanent recognition from the government of India under the securities contract. It played a vital role in the development of the capital market of India and its index. The exchange has a nation-wide reach with a presence in 417 cities and towns of India. It provides an efficient market for trading in equity, derivatives and debt instruments. Presently, stock exchange in India consists of 23 regional stock exchanges and 2 national exchanges i.e., NSE (National Stock Exchange) and OTC (Over the Counter Exchange of India.

The stock exchange offers the companies, the facility of raising capital for expansion, by selling shares to the people, who want to invest their money in the market. Stocks and bonds have values that are fixed at the beginning of each trading day and they rise & fall depending on the status of the company in specific and the economy in general. The stocks are bought and sold at the exchange through the brokers, who work for different-different companies, which are allowed to be in the exchange. It is not a supermarket of stock that is opened to the general public. There are only few people allowed to trade in the stock market. If an individual is seeking to sell and buy stocks then it would be wise on your part to contact a broker, who is working for one of the companies. Such measures are allowed in the exchange in order ,to sell or buy a specific stock at a special price.

There are numerous stock exchanges across the world like the National Stock Exchange of India, Tokyo Stock Exchange and the London Stock Exchange etc. The stock market specially plays a major role in the process, helping to keep a balance in the market by matching sell and buy orders deftly.

Fixed deposit, fixing your lives, always

Wed, 21 Jan 2009 05:16:41 UTC

As per, the current scenario of financial tumbledown and economic fluctuations world-over, now it is not very propitious to invest money in share market or any such market in the face of global economic slowdown. But what about people? Those who have ample amount to invest and are yearning to earn profit on those amounts, where do they go or invest their money? Thus, in an era of global meltdown, the fixed deposit has become one of the safest means for those investors who intend to deposit a bulk amount of money for a fixed period of time such as five years to fifteen years and above. One can earn a high rate of interest on such deposits. In case of saving accounts, you keep on drawing amount and consequently, there remains less chance for earning high interest. Saving accounts or any other such accounts would not fetch you that much handsome interest rate as is offered by the FD means. It has become one of the popular saving schemes for average investors. Under the Fixed deposit, you are not supposed to withdraw your amount before the maturity of the contract. But at the same time, it provides a higher rate of interest comparatively more than the saving accounts. It is generally recommended that one should browse the Internet to get the minute details about these financial instruments. This is particularly because the facilities of these deposits, vary from bank to bank. Some of the banks offer overdraft provision on the amount deposited, premature withdrawal of the amount before the stipulated maturity period by dint of losing a bit of interest rates. Bank deposits are considered very safe because these banks are regulated and controlled by the Reserve Bank of India.

Some of the conspicuous features of such a tool of saving, can be, you can select different offers from the banks, which provide different rates of interest and other benefits as per the extent of maturities. Hence , the customers are advised to check different rates of interest from varied banks and for different periods of time. You can also avail the help of the best financial expertise regarding FD. It is usually recommended that you should pay the amount in 5 to 10 segment deposits, in place of making one bulk deposit. In the wake of the financial fluctuations, you might suddenly fall in need of money, in case, of sudden unexpected events. Consequently you may have to access premature withdrawal of partial amount, in such a case only two or three deposits would be affected by your premature withdrawing of money. Hence, the loss will be lesser in comparison with one big deposit in the same case.

Travel insurance enhances the enthusiasm of travelling

Wed, 21 Jan 2009 03:59:36 UTC

Insurance is becoming quite popular in India. People who want to cover various foreseen and unforeseen risks during the travel, I think should go for the travel insurance. In fact, this type of insurance is sought by people like students, businessmen, leisure travellers, adventure travellers and many others. Basically, it is a short-term coverage that is given by a insurance company in return of a specified premium. This insurance covers several risks, such as medical expenses, accident and loss or damage of luggage during travelling.

The travel insurance has different aspects like trip cancellation, accident, loss of luggage, default protection etc. First is trip cancellation, it is a coverage given to you if you miss the flight due to a nasty weather or illness. Talking about accident, it is a coverage for accident or illness during the period of travel. It covers expenses like hospitalisation, intensive care, surgery and some other expenses during the time of travelling, which is, according to me just excellent.

Sometimes one may suffer the loss of their luggage, it might be stolen or might be damaged. Under such situations, the insurance companies provide a risk covering these type of losses. Finally, speaking about default protection, it is given if a tour operator is suddenly declared a bankrupt, then this policy protects you in such a condition. All these vital aspects are the reasons for the high priority of this type of insurance in India.

So, the travel insurance is quite handy in different critical situations, such as loss of luggage, illness, accident, trip cancellation and some other situations. By taking this insurance, one can have safe and tension-free travel. It makes your travel delightful for you. More importantly, the process of this insurance is very simple. Just give some required document to the insurance company and then let the company verify them. Just after verification, one will be entitled to get this insurance. There are different companies which are offering the insurance for travel in India, visit the Internet find out more to understand this insurance. Finally, it must be said that according to me, it the best option for travelling people.

Business loan

Wed, 21 Jan 2009 02:38:53 UTC

As most of the people in India do not have enough money to start a new business or to run their business, they depend on the money lenders to satisfy their business financial needs. In this regard, many of the Indian banks and money lending organisations have started offering loans not only for large but also middle and small scale industries. Business loans can be availed to satisfy all types of business needs like to extend the office, to purchase furniture for a office, to buy machinery, to start a new branch and to pay salaries etc. These loans are available in two forms like secured and unsecured. If you want to avail secured business loan, you have to submit collateral to your lender as a security against loan. In case of unsecured business loan, the lenders will not ask you to pledge any one of valuable properties as security against loan.

To take a loan for your business financial needs, you should mention the purpose of taking loan and full details of your business in the loan application form. To compete with other lenders, some of the lenders in India are offering cheap business loans. If you want to know the names of the lenders, who offer business loans at cheap interest rates, you visit the trusted websites over the Internet. To sanction these loans with in a short time, some of the lenders are offering online services. The borrowers can utilise these services to get business loan very fast. Some of the Internet websites are providing price comparison tool features which allow you to compare the interest rates of all the business loans in India. This helps you to get a complete knowledge about the quotes of all the lenders. At present, the condition of IT industry is so bad in India. Due to this most of the educated people are not finding jobs. They are planning to start a new business. Before going to apply for a business loan, you should have a clear idea about the loan market in India.

Current economic scenario - Impact of recession on India

Tue, 20 Jan 2009 07:15:12 UTC

Economy condition of a country always changes time to time. In current economic scenario, recession has grabbed almost all the organisations of the world. There is no industry of the world which is not affected by this serious problem. Numerous developed countries are suffering different types of problems. Several people have lost their jobs and facing the financial problems. Government of almost every country is doing their best to come out of the problem. The banks are providing business loans at low rate, so that they could help the organisation who are struggling with bad financial conditions. Government of almost all the countries are providing the money packages to organisations.

If I talk about India, here the situation is still satisfactory if compare it with other countries of the world. Along with this, Indian government has announced a handsome money package to control the situation. Reserve bank of India (RBI) has decreased the rate of interest so that more and more people can avail the help of business loans to make their financial condition better. Some other banks such as SBI and ICICI are also providing different types of loans at a low rate of interest. Organisations are cutting cost to stand in the market in such a bad current economic scenario. Along with this, the export and import businesses of India is going down. The real state was doing good business in India if we look on last months, but nowadays the condition of real state is still worse because of recession. But in my opinion, Indian economy is still doing good for Indian film industry, Bollywood is releasing different movies that are making enough money. Some latest released movies like 'Rab Ne Bana Di Jodi' and 'Ghajini' have been liked by several people in India.

So, it can be concluded that there are still enough business opportunities in India. Because, the Indian government is doing its best to solve the problem.

Paying tax is now much easier

Tue, 20 Jan 2009 07:05:55 UTC

Tax refers to the financial charge or other levy which is inflicted on an individual or a legal entity by a state. Taxes are also imposed by many sub-national entities. The tax collection structure of India has been well divided and the state government, central government and local bodies are responsible for it. The union governments of India collect income tax, central excise duties and service tax while the state governments levy taxes on land revenue, stamp duty, VAT and many more. The local bodies are on the other hand, responsible for water tax, electricity tax and many other common taxes.

The income tax, calculate the taxable income by combining the income on the basis of salary, incentives and allowances, capital gains and other sources of income. For the financial year 2008-09, total income up to Rs. 1,50,000 per annum would be exempted from such type of tax. For the income that ranges above this amount, there are several slabs. If the total income of a man crosses Rs.1,50,000, then the additional charge of income tax of 10 percent is levied. For the women, the minimum limit of up to Rs. 110,000 has been increased to up to Rs. 1,80,000 and for the senior citizens up to Rs. 2,25,000. The agricultural income is exempt from income tax. The educational cess of 3 percent is added along with this charge. The amount of indirect taxes was high compared to the direct taxes in India.

Now, in India, the people can easily pay their taxes with the help of the e-taxing. There are numerous online websites available on the Internet, which would allow the people to return their taxes directly to the Indian government. There are so many advantages of paying tax online such as convenience, hassle free, user-friendly process and 24 x 7 return filing facilities are available. One of the most important advantages of paying online is that you can fill the form anytime, anywhere. The online process of tax paying is very simple and it can even hold permanent records for every detail.

Leading to prosperity: Real estate

Tue, 20 Jan 2009 05:52:45 UTC

The pace of growth in India has left other countries of the world far behind. The consistent GDP ascent of Indian economy has been marvelling the entire world. It is growing in leaps and bounds from all the fronts. India is now no more an agriculture-based nation, with which it has been tagged for many decades. The service sector of this country has tremendously increased due to multiple factors, which have taken place over the last few years such as liberalisation and globalisation. These factors have entered the geography of this country in 1991, which have created a big metamorphosis in the entire economy of the country. Due to the above mentioned factors, India has received massive foreign investments in various ways. A large number of companies have come here to expand their entrepreneurial empires. As per the massive influx of foreign investment and arrival of numerous multinational corporations, huge demand for infrastructures have been generated. Due to the above-mentioned factors, the real estate sector started flourishing. It has become one of the greatest contributors to the GDP of the country, which is a basic barometer for measuring the success and failure of the economy. Apart from the foreign factors, which boost the Indian real estate, there are several other indigenous aspects too, which are also enhancing the growth of this sector such as the middle class population of India, which has undergone multiple changes recently. Their income level, literacy and sophistication have bloated in manifolds over the years. As their income level increased, the demand of the first-class infrastructure also started rising. Most of them have now become entrepreneurs, professional, industrialist, engineers and so on. Thus, they are capable enough to generate huge amount of money to set up their own industries and enterprises to lead a prosper life. Hence, these factors are fuelling the growth of real estate tremendously. Various realty firms have also cropped up, which are persistently building up innovative and modern infrastructures in order, to tap the huge growth for such developments.

In the wake of severe competition, world class infrastructures seem to be mandatory, the Indian firms are also getting competitive at par with various MNCs from different parts of the world. Precisely, the consistent growth in every sector have generated huge demand for the real estate development in order, to enhance the ever growing potential for infrastructure.

Stock Exchange: Always experiencing up's and down's

Mon, 19 Jan 2009 06:16:06 UTC

In simple terms, stock exchange refers to a corporation, where stock brokers and traders can trade stocks and other such securities. It provides several facilities like the issue and redemption of securities along with various financial instruments and many capital events including payment of income and dividends.

In the wake of present scenario i.e., global slowdown, the stock exchange market has been beleaguered by unexpected ups and downs. It is also referred to as a very risky and volatile place. The Indian stock exchange is witnessing a lot of problems due to the unwanted global economic meltdown. A large number of foreign institutional investors, who were very open to Indian share market, are now not inclined to it. Consequently, stock market has quite gone down. But India is a burgeoning country from all the fronts, which have however boosted this market to a significant level.

Furthermore, adding to the shock of stock brokers and traders, the current sensation of Satyam Enterprise, have created ripples in the market. This outrageous event has even put the Indian economy into a deep mire. It has panicked all the investors and the associated persons.

Stock exchange is such a market, which always gives away some lucrative advantages to its customers even during the times of crisis. It is generally suggested that in times of slack, one should invest to rake in later. The popularity of stock market has however, started gaining momentum quite recently. A large number of new investors have come up with their own contribution to this market. Numerous firms are getting registered themselves with this market so as to enhance their capitals. Hence, it is a very dynamic and volatile market. One has to be very cautious and careful about this phenomenon, which can in turn, fetch you handsome dividends. Millions of people are making huge amount of money out of this source. It has become a very hot platform for many to earn quick money.

Personal loans assist you to solve your personal financial needs

Mon, 19 Jan 2009 02:31:32 UTC

Money plays a prominent role in the life of each and every human being. Because, without having money no one can not satisfy his or her personal needs. Before the development of banking system in India, people depended on the money lenders to meet their personal and unexpected needs. At that time, lenders had taken high interest rates for giving debts.

When the RBI (Reserve Bank Of India) was nationalised in 1949, banks in India had started offering personal loans for the people in India at reasonable interest rates. From then, people are depended on banks to satisfy their personal financial needs like marriage celebration, travel, renovating house, to purchase furniture and celebrating festivals in a grand manner etc. To compete with the public banks, some of the private money lending organisations and banks entered in the Indian loan market to provide personal loans at competitive interest rates. The main benefit of going for these loans is that the borrowers are not required to mention the purpose of taking loan in the loan application form. Depending on your personal financial needs, you can take as much amount as you want under the category of personal loans.

To avail personal loans with in a short time, you can take the help of the Internet which allows you to find the quotes of all the lenders, who offer personal loans in the present day loan market of India. The Internet also allows you to compare the interest rates of all the lenders which helps you to select the lender, who provides loan with hassle-free repayment options and low interest rates.

One more benefit of taking personal loans is that the borrowers are no need to have any property to submit to their lender as a security against loan.

If you are looking for financial help to meet your personal needs, without any hesitation you can apply for a personal loan. But, you should study the Indian loan market, before going to apply for a loan. It helps you to take a personal loan from a good lender.

Current account: Reliable and trustworthy

Fri, 16 Jan 2009 07:51:17 UTC

The current account, gives you the facility to deposit your money safely in the bank. It also gives you the facility to withdraw money via cheques. This is the most common type of bank account, being offered by almost all the banks operating in the financial market. For Indian people, various types of bank accounts have been designed which have the potential meet all their varied requirements. Nowadays, the current account is one of the most secured and beneficial accounts for the people. This account can be opened by anyone, who wants to use their account for daily financial transactions. Most of the Indian firms, businessmen and companies have opened this account to enjoy interruption free daily banking transactions. The main intention of having a current account is to deposit and draw the money in an easy way without any restrictions. This account can be opened by a single person or more than one, which is known as a joint current account. The joint current account is mainly for the couples. They can share the account and operate the account according to their financial needs.

There are numerous Indian banks available in the market, which allow the people to open current account with ease. Most of the Indian banks offer comfortable banking system to their customers. There are so many types of current accounts available for various types of business purposes. One can easily select any of these accounts, which offer the best customer service and flexible terms & conditions. With the invention of Internet, most of the Indian banks are providing online customer services to their account holders. The online bank account gives you the facility to access your account online.

If you are planning to open a current bank account, then make sure that you search the online market. The Internet, is one of the best resources to start with the research. There are numerous websites available who offer the comparative chart of the different types of current bank accounts and that too of numerous banks. It gives you all the important information that you want.

Life insurance offers unique propositions

Fri, 16 Jan 2009 06:08:38 UTC

Insurance has been one of the prominent means for securing many things, which we hanker after. Almost everybody wants to protect his valuable things by the means of insurance. The life insurance is available indifferent types such as whole life policy, endowment policy, term life insurance policy etc. As of now, due to severe competition in this domain, numerous financial institutions and other credit unions have started giving various insurance coverage to the people via online portals. The life insurance policy has become very popular throughout the world by its unique propositions. There are various firms, which provide such insurance coverage to the people along with numerous other benefits. In simple words, it refers to a contract signed between the insured person and insurer for a fixed time period that would include a premium against the live coverage provided by the insurers. The insurance company gives its beneficiaries a financial coverage in case, of death of the insured person. There is no other mode of investments, which provide such sensible and effective security coverage to the insured ones as well as a sound return of sum assured to the nominees. In an age of rampant uncertainties and risks, this insurance policy prepares a family against the financial crisis in the event of an untimely demise of someone from the family. One of the prominent benefits of life insurance policy is that it works as a tax saving mechanism. As a matter of fact, the government as well as private employees opt this insurance policy with great passion because it helps them to save ample amount from their salary, which, otherwise they are compelled to pay on tax. For more details, you can easily get the through information about this insurance via online portals within few minutes. You can also avail various other added advantages.

The riders are very special provision of the insurance policy which provide additional advantages and benefits not included in the original contract. It would obviously depend upon you whether you want to enjoy the extra benefits or not. The riders are very useful and effective methods for the people to derive much more benefits from this policy etc. Hence, be careful to pick up the best category of this insurance, which would appropriately suit you the most.

Let your money earn for you

Fri, 16 Jan 2009 01:09:57 UTC

People always seek for options which can increase their money. As a matter of fact, they want their money to grow. Money saved in banks, give impression of just printed papers, if its not being utilised. However, in that case, spending it, is also not an option, if you don't have a need. The best option for letting money to grow, is to let your money work for you. Money doing work for you! This statement might sound strange but it is a reality. People can increase money by various sources. The most popular and used process is to invest in the stock exchange. But the stock markets terrorise a lot of people because of their notion, that the process of investing money in stock market involve certain complicated instruments. On top of that, the recent recession has even scared some veterans of stock markets. But it still remains the easy and effective process to increase your money.

In order, to enjoy profits from the stock market, one has to know its mechanism first. Actually, the crux of the matter is the companies launch their shares in stock exchanges, to gain capital for their projects and ventures. People who see calibre in any specified company, they should make up their mind to invest in that concerned company by buying the initial shares. These shares can be traded by individuals in stock market. People can earn a lot of money by investing or buying these shares. The cost of these shares increase and decrease by the demand and supply rule. So, shares bought at low value and sold at higher value would permit you to enjoy profit, but yes, always try to be on the safer side by investing smartly. Shares basically, bring profit in one other way. The companies offer some dividends and interest to their share holders. This also guarantees regular return for the investor.

The stock market, did experience a steep fall during the recent recession. But Indian markets have recovered quickly and are now standing tall against all odds. There are risks for the investors in investing money in the market, but if invested properly it can also ensure huge profit. The NSE and BSE are the two most prominent Indian stock exchanges.

Home loan

Thu, 15 Jan 2009 06:51:04 UTC

Home loan: One of the flourishing markets of India

The home loan is referred to that type of loan, where the borrower uses the equity of their home as security. These loans are sometimes very useful in financing major home repairs or while purchasing a new home. These loan creates a lien against the borrower's house, and cuts down the actual home equity. In general terms, a home loan requires you to pledge your home as the security to the lender security. The lender agrees to hold the title or deed of your property until you have paid back your loan plus interest. There are some criterion which you need to fulfill in order, to avail these loans like your age should be or above 18 years, you should have a valid bank account and a good job for repaying the loan amount.

Currently, there are so many loan providers available in the market that are offering home loans at different interest rates. However, all the deals would not serve your requirements, and one must do exhaustive market research before taking a decision. There are mainly two types of home loan available in the market such as fixed interest rate loans and floating interest rate loans.

The fixed interest rate loan refers to that type of home loan, where bank charges the same amount of interest rate during the tenure of loan. The main disadvantage is that the borrower is subject to market risk. Normally, fixed interest rate loans are pricier than the floating interest rate loans. Under the floating interest rate, loans are subject to market conditions and hence they are constantly revised by the banks. These loans are beneficial only if the interest rates fall in the future.

There are so many websites on the Internet, which provide information on home loans to the people and that too at a very steady pace. One can easily apply online for these loans. The home loan amount would depend on your eligibility, income and repaying capacity. However, one can avail, loan amount ranging from Rs 2 lakhs to Rs 200 lakhs.

Credit cards

Thu, 15 Jan 2009 06:06:57 UTC

The new money system

Shopping, has always been a favourite activity for me. But the biggest problem which come associated with this activity, is the factor of carrying cash. I am very clumsy in carrying cash, moreover, I am not an exception as most of the people feel irritated to handle cash. The problem with handling cash, is that, it is very bulky to carry when its huge in monetary value. Then its lot more vulnerable too from the effects of wind, water and thieves. For all the shopping fanatics, the biggest problem always seem to be the payment part with cash. It's a hectic process right from the counting to the right amount to pay the cashier to receiving the right amount in return. But the problem has been solved by just a simple plastic card. Sound's strange? I know, but it's the truth. Credit cards or plastic money as they are also termed, have globally revolutionised the monetary system. Now you are not required to pay with cash.

Many people have misconceptions against the cards, because they think accessing these cards are far more complicated, but the fact, is that they are far more simple than using the cash itself. All the shopper has to do, is hand over the card to the cashier and he will swipe it and return it to you. Thus, the payment is done. With plastic money shoppers don't have to worry about carrying cash with them. Another useful option which the credit cards bring, is the use of buy now and pay later motto. With credit cards, shopper can buy expensive and costly items even when there is no finance available at that given period of time. The card user is required to pay for the shopping to the bank on the monthly basis. Moreover, banks offer discounts on these amounts and installment options on big amounts. The credit cards, now are the ultimate tool for a shopping aficionado.

Travel Insurance

Thu, 15 Jan 2009 04:15:36 UTC

Travel insurance policy offers you hassle-free abroad trip

The Indian insurance companies are offering different types of insurance policies to provide financial relief to the people in India. When I decided to visit abroad, I browsed Internet websites to know the benefits of travel insurance policy. After collecting the information from the Internet, I came to know that purchasing travel insurance surely helps me to complete my foreign trip without any hassles. It provides financial security and solves all types of troubles that you face in your journey. Just by purchasing a travel insurance policy from the insurer, you can solve all your unexpected travel situations. When I lost my passport, this policy helped me in a great way. It provides financial coverage for medical expenses, hospitalisation, dental treatment, loss of passport, trip delay and loss of valuable belongings. This policy also provides you financial emergency assistance, if the insured loss his money due to theft. Travel insurance policy is known as the short period insurance policy.

Some of the people think that taking travel insurance policy is a waste of money. But, it is the best source to avoid risks, while going to abroad. Before going to purchase this policy, you should inquire about all the insurance companies, who are providing insurance policy at present in India. To select the best one, read reviews over the Internet and compare the benefits of all the insurance companies. Some of the insurance organisations are responding in time and not helping the insured person in a proper way. So, you should aware of all the facts about the company, from which you are going to take travel insurance. You should collect the toll free numbers of the insurer. One more point you should keep in mind before taking this policy is that you should ask your insurer for the list of their network hospitals. Some of the insurance companies in India are providing one way travel insurance policy.

How to Prevent Credit Card Theft

Wed, 14 Jan 2009 08:24:20 UTC

How to Prevent Credit Card Theft

Shred or tear into bits credit reports and credit card statements before throwing them in the trash.

Step2

Call your credit card company immediately if your credit card statement is delayed.

Step3

Place an order for credit card and bank account statements at least once a year. Make sure that you read through each detail about the transactions conducted and charges made and double check anything that seems strange or inexplicable.

Step4

Request that the three credit reporting bureaus delete your name, so that the offers for pre-approved credit cards will be discouraged.

Step5

Get rid of unnecessary mail from banks and other marketing institutions to limit the scope of Identity theft.

Step6

Keep your Social Security card and your Social Security number safe and inaccessible to anybody. It is the fundamental link to your credit card reports and bank accounts. Thieves are always on the look-out for Social Secuity numbers.

Step7

Avoid printing your SSN number on checks.

Step8

Photocopy your driver's license, ATM cards and credit cards to ensure you have the account numbers, expiration dates and important telephone numbers handy should these be stolen.

Step9

Verify any fraudulent entries made in your Social Security earnings or benefits statement by requesting a report at least once in a year.

Step10

Mail your bills by taking them to the post office. Home mailbox thefts are on the rise. Also, make safe arrangements for incoming mail when you are out of town.

Step11

Cancel and close credit cards accounts that are seldom used.

Step12

Use your credit card wisely, especially when online or via telephone to pay for a product or service. When making online payments using credit cards, ensure that the Web site is secure and authentic. Do not give out credit card information on unsecured Web sites or on any Web site posing as an authentic Web site of the credit card company that contacts you first.

The Importance of Home Insurance

Wed, 14 Jan 2009 08:15:52 UTC

The Importance of Home Insurance

The importance of having a home insurance policy cannot be over emphasized. Let’s face it; no one can accurately predict when something tragic or unavoidable will happen to one’s home.

While the home owner may be devastated at the sudden and unexpected loss of their home or personal property, it doesn’t mean that the homeowner has to be utterly unprepared in the unfortunate event that catastrophe strikes.

Home insurance not only protects the homeowner from total loss when disaster occurs, it also protects the home owner if someone that does not live in the home should somehow get hurt on the property.

Hence, home insurance prepares the home owner in the event that their home is damaged by “acts of God” or if a person becomes injured, the home owner will not be held solely liable for all of the damages.

Many home insurance policies cover a home under the “all risks” clause. The “all risks” clause simply means that the policy, as long as it remains intact, will cover the home and the property contained within it under any circumstance that is not otherwise noted in an exclusion clause.

For instance, a home can be covered for fire damage, earthquake damage, and acts of vandalism under an “all risks” policy, but if the policy states that the home is not covered for flood damage, than water damage as the result of a flood would not be covered.

Working closely with an insurance agent will help a home owner prepare for unexpected events. Having home insurance is important because the lack of an established policy can only make a disastrous situation far more devastating on a home owner, psychologically and financially. In the end, having a home insurance policy will ultimately give the home owner a sense of security.

Mutual funds are not offering profits to the investors

Wed, 14 Jan 2009 07:09:01 UTC

The general meaning of a mutual fund company is nothing but an investment company that regularly sells and redeems its shares. Many of the people think that there is no difference between investing money in share market and mutual funds. But, these two differs with each other. Because, if you invest your money in mutual funds, it comes under the category of personal savings, where as share market investments do not consider as personal savings.

There are many organisations in India inviting people to purchase their shares. The benefits of taking mutual funds vary from one company to another one. As the condition of global share market and the Indian IT industry is going to be worst, most of the investors are not showing interest to invest or save their money in mutual funds. The main reason behind this is that the investors, who invested their money in mutual funds in 2008 did not get profits and lost their investment money. On January 2, HDFC Mutual Fund offloaded 50 lakh shares. Satyam's price averaged Rs 177.10 on that day, still on its way up from the lows it had touched just a few weeks earlier, but several times the price it would be commanding just a week later, when the price fell to Rs 6.30 on January 9. HSBC Mutual Fund has recently taken decision to discontinue the HSBC Floating Rate-Long Term Plan.

Due to the above mentioned reasons, now, people in India are preferring post office Recurring deposits or fixed deposits or saving account to save their money. As some of the IT companies like Satyam Computers, Mega Soft and Wipro companies had cheated people, most of the investors lost their faith in private organisations. Though the interest rate is low on depositing money in public organisations, in the present day market, it seems the best the secured source than to invest money in private companies.

Real estate market maturing to set new records

Wed, 14 Jan 2009 05:19:46 UTC

The real estate sector is quite lucrative. But, we can't ignore the fact, that the current global scenario is facing some serious threats. The recession is taking its toll and almost every sector seems to be overshadowed by this unfortunate spell. However, it has been witnessed that India has rightly managed to stand tall in such a situation also. However, the global financial turmoil has affected a bit, this brick and business sector. This lucrative sector has been waiting for a long time to get a sufficient support from the government. Of late, the government has decided to offer a stimulating package to boost up this sector. This attractive package came as a blessing in disguise for this sector.

It is quite interesting to note, that the Central government is now taking effective measures, to give life to this troubled fund-starved sector. Actually, in order, to revive the troubled economy, the Central government introduced measures which included cheap home loans. Such, measures definitely brought smiles on the faces of both the common people and the banking sectors. With the support of these measures, it is expected that the real estate sector would certainly register some growth in the coming days. Quite interestingly, these measures have already started creating lots of queries in the banks and other financial institutions.

It is also expected that this sector would definitely register 20% growth, within few weeks because people would not like to let go this opportunity at any cost. The crux of the matter is, India has always been looked upon as the most wanted investment destination due to certain reasons. However, this destination became even more lucrative due to the increasing transparency factor, in this so called real estate sector. India even boasts of rating high among the nations such as Brazil, Russia, India and China with a huge number of real estate players. Moreover, as this sector is gaining maturity, it is expected that this business would really set new milestones in the times to come.

Protect your beloved car

Wed, 14 Jan 2009 02:24:44 UTC

Its pretty difficult, to keep your car safe these days. The incidents of traffic jam on the road are gaining by monstrous proportions day by day. Even for a skilled driver, it seems to be really difficult to negotiate the omni present threat of accidents. As a matter of fact, we all consider our car as the most priced possession. We feel like crying when even a tiny scratch beautifies our car. Then just imagine, what if, our car meets an accident? The damages on the car can be pretty hefty. However, there is a pretty simple solution which can help us to recover the cost of damages of our car. All you have to do is get a suitable car insurance.

The car insurance, would efficiently cover up the damage cost which might occurred during the accident. One can easily claim for the repair expenses which needs to be done on the car after the unfortunate accident. This type of insurance is not only limited to offering damage costs for the car. The concerned insured can also claim for the medical costs on the injuries met during the accident. The medical expense of the person in the car other than the insured are also covered in the insurance policy. This policy would also pay up the medical expenses or the certain amount in case of death to the third party, or the people who met with the accident because of the insured. The cost of damages of the other vehicle or damages on property are also billable in the policy.

The policy of car insurance also offers security against the theft of the car, damage by riots or damages by technical failure such as fire by short circuits etc. This type of insurance policy is a great way to negotiate the costs brought on by unforeseen circumstances. For all those who own a car and want to maintain it for years, they must to get an insurance coverage for their car, without any second thoughts.

Fixed deposit: The safest place for investing money

Tue, 13 Jan 2009 05:39:50 UTC

The fixed deposit, means a specific sum of money deposited in a bank or financial institution for a fixed term earning a pre-agreed interest rate. In general term, its a type of deposit where investors, who want to deposit a lump sum amount of money for a fixed period of time. The time period may be 15 days to 5 years and above, thereby earning a higher rate of interest in return.

Due to the bad condition of present global share market, it has been predicted that the economic position of India might not suffer that much set-back. Fix deposit, is the only safest measure which can secure our investment. There are so many banks available these days, which offer various types of fixed deposit schemes for all types of customers and investors. The fixed deposit scheme of the numerous banks are one of the most common savings scheme that can be opened by all types of investors. These deposits also give a higher rates of interest than the ordinary saving accounts. However, such facilities would obviously vary from bank to bank.

Nowadays, banks are the very safe place for the investors to invest their money because all the banks are subjected to be under the control of RBI with regard to various policy and operational parameters. All the banks are free to offer different-different interest rates in fixed deposits of different maturities. If you are going to open a FD account in a bank, try to check the interest rates of different banks for different periods. In my opinion, to keep the amount in six or ten small deposits instead of making one big deposit account can prove to be more profitable. Nowadays, most of the Indian banks are providing higher Interest rates on fixed deposit accounts. These interest rate may be 4.5 to 11 percent, depending on the maturity period of the FD account. There are few banks and financial institutions, which give FD interest once in 6 months. Hence, the banking sector can be referred to as the safe place for depositing our hard earned money.

A highly beneficial financial instrument

Tue, 13 Jan 2009 04:06:41 UTC

People are always on the lookout for fantastic things, which can benefit them a lot, so that they can have an edge over the others. In an age of globalisation and liberalisation, business activities have become very competitive and sophisticated. Nowadays, most of the financial transactions are done by banks. These banks have an immense impact on the business procedures. One cannot always carry the required amount of money with oneself every time. It would be very risky and difficult, as you have to to be very cautious about that money. Observing these negative points, banks have come up with various types accounts, which have the potential to wipe out all the above-mentioned problems. The current account is one such solution to such unwanted problems, which seem to become quite popular due to its unique benefits, which can help you to enhance your business performance.

In simple words, this account can be described as a bank deposit from which the depositors can withdraw their required fund whenever they want and that too without any hassles .This type of account has been specially designed for business purposes because with the help of this account, one can enjoy unlimited number of transactions in a day. On the contrary, the saving account would limit you with limited usage for a day.

This lucrative account is generally opened by the people, who are engaged in trades and businesses, so as to access transactions at their will. Precisely, this is a business pro- account, which helps the businessmen. As per the great saying that, 'finance is the blood for a business', without which it can not be carried out. Hence, the current account enables you to draw money so as to climb the ladder of business success at ease. Unlike the saving account, this account does not carry any interest rates. It is suggested that you should browse the Internet to get the minute details about this account. There are various online shops, which are providing thorough assistance regarding this account. You can also apply for this account from these online portals without any complications with regard to documentations etc. You have just to fill a simple application form that should be associated with pertinent documents such as proof of residence and identity. Thus, current account is all set to facilitate you in every stage of your business.

Now, NRI loans are available at easy repayment options

Tue, 13 Jan 2009 03:45:17 UTC

Taking a loan in India has become relatively more simple for an NRI. Any Indian who has been living in abroad for conducting business, employment or pursuing a vocation with no intention to settle there are specifically put under the bracket of NRI (non resident Indians). According to RBI (Reserve bank of India) guidelines, they are eligible to avail the required finance to own property in the India.

Following, the statement of RBI, loans are being offered to the NRIs by numerous commercial banks and major financial institutions in India such as the State Bank of India, ABN AMRO, ICICI bank, Citibank and many more. As an NRI, you can easily opt for these loans. Apart from these banks or institutions, an NRI can even opt for the government supported “Griha Shobha” scheme. According to RBI, an NRI can easily avail a loan up to 1 crore or an amount of up to 80 to 85% of the cost of the immovable property. The interest rates of the NRI loan may vary and it would also change according to the situations of the market. Mostly, commercial banks and financial institutions charge a processing fee for NRI loans.

The interest rates of the NRI loans, without any doubt are quite affordable and the total amount of the loan would depend upon the person's repayment capacity. The total procedure of repayment option would be done by the banks by taking into consideration certain factors such as annual and monthly income of the loan applicant.

The tenure of repayment of the NRI loans are 3 to 10 years. The repayments are normally made in easy EMIs ( Equated Monthly Instalments). These EMIs are a combination of principal and interest amounts. The repayment system of these loans are different from the loans approved to the resident Indians. The Indian citizens can easily pay the loan amount through their savings account but an NRI does not have such privilege. An NRI needs to pay his monthly instalments by his NRO ( non-resident-ordinary) account or NRE (non-resident-external) account only.

H A Daruwalla, MD, Central Bank of India

Mon, 12 Jan 2009 08:34:03 UTC

Homai A. Daruwalla is the chairman and managing director of Central Bank of India.

Prior to taking charge as CMD of Central Bank of India, Daruwalla was executive director of Oriental Bank of Commerce.

Under her leadership, Central Bank of India has shown a steep growth of 110 per cent in total business between 2005 to 2008, according to a company statement.

Daruwalla is also deputy chairperson of Indian Bank's Association with since October, 2008. Daruwalla, a chartered accountant, started her career with Union Bank of India as an officer.

Vedika Bhandarkar, MD, JPMorgan India

Mon, 12 Jan 2009 08:32:52 UTC

Vedika Bhandarkar is the managing director of JPMorgan India.

She has been heading the investment banking division of JP Morgan India since 1998 and in March 2004, she was also appointed managing director of the firm.

Bhandarkar has been in financial services for 14 years. An IIM graduate has played a key role in many significant deals like ONGC's acquisition of MRPL from the AV Birla group.

Falguni Nayar, Managing Director, Kotak Mahindra Capital

Mon, 12 Jan 2009 08:32:08 UTC

Falguni Nayar is the managing director of Kotak Mahindra Capital.

Falguni worked with A F Ferguson for about 8 years before joining Kotak Mahindra in 1993. Her husband is Sanjay Nayar, former citigroup CEO who joined Kohlberg Kravis Roberts (KKR) as its India CEO.

Nayar is an IIM-Ahmedabad graduate.

Ranjana Kumar, former CEO Indian Bank

Mon, 12 Jan 2009 08:31:15 UTC

Ranjana Kumar was the first woman CEO of a nationsalised bank. Kumar took over the Chennai-based Indian Bank in May 2000. She played a key role in turning around the loss making bank.

Kumar has also worked as Executive Director of Canara Bank, Bangalore.

She started her career as a probationary officer in Bank of India in 1966. In 1995, she was elevated as General Manager. Later, she took over as Senior Vice-President and Chief Executive of Bank of India, overseeing the US operations, based in New York.

Ranjana Kumar took over as chairperson of the National Bank for Agriculture and Rural Development in November 2003. Kumar, who played a pivotal role in turning around the ailing Indian Bank, will be the first woman to head the NABARD.

She is currently serving as Vigilance Commissioner in Central Vigilance Commission.

Manisha Girotra, chairperson, UBS Warburg India

Mon, 12 Jan 2009 08:30:27 UTC

Manisha Girotra is the chairperson of UBS Warburg India. Girotra is responsible for all investment banking activities of the group in India since December 2002.

Girotra has over 18 years of experience in investment banking. Girotra has worked on the privatisation of the Indian Petrochemicals Corporation, Tata-SIA's bid for Air India and Scottish & Newcastle's investment in the UB group.

A gold medallist from the Delhi School of Economics and a topper in Economics (Honours) from St. Stephen's, New Delhi she holds a postgraduate degree in economics.

She worked with Grindlays for two years. She also worked with Barclays for about four years.

Manisha Girotra, chairperson, UBS Warburg India

Mon, 12 Jan 2009 08:30:26 UTC

Manisha Girotra is the chairperson of UBS Warburg India. Girotra is responsible for all investment banking activities of the group in India since December 2002.

A gold medallist from the Delhi School of Economics and a topper in Economics (Honours) from St. Stephen's, New Delhi she holds a postgraduate degree in economics.

She worked with Grindlays for two years. She also worked with Barclays for about four years.

Kalpana Morparia , CEO, JPMorgan Chase and Co

Mon, 12 Jan 2009 08:29:30 UTC

Kalpana Morparia is the chief executive officer of JPMorgan Chase and Co, India.

Kalpana Morparia worked for 33 years with the ICICI Group. She became a part of the board of directors in 2001, and later became joint managing director at ICICI Bank.

Morparia was instrumental in developing ICICI's well-diversified financial services business. She also helped strengthen the bank's insurance, asset management and securities businesses.

Morparia is a member of JPMorgan's Asia-Pacific executive committee.

Meera Sanyal, CEO of ABN Amro Bank

Mon, 12 Jan 2009 08:28:35 UTC

Meera Sanyal was appointed as CEO of ABN Amro Bank in December 2007.

Sanyal was working as corporate executive vice president and head of services (Asia) of ABN Amro. She was earlier the chief operating officer of the bank.

Sanyal started her career in ANZ Grindlays. She joined ABN Amro in 1992. In 2002, she took over as the managing director of ABN Amro Central Enterprise Services (ACES), the bank's BPO operations.

Kishori J Udeshi was Reserve Bank's first woman deputy governor

Mon, 12 Jan 2009 08:27:03 UTC

Kishori J Udeshi was Reserve Bank's first woman deputy governor when she took over in June 2003.

She was followed by Usha Thorat, who took over as Deputy Governor of the Reserve Bank of India in November 2005.

Thorat has been Executive Director of RBI since April 2004.

She is in charge of the department of currency management, deposit insurance and credit guarantee corporation, inspection department, premises department, rural planning and credit department and urban banks department.

Shyamala Gopinath has been RBI's deputy governor since September 21, 2004. She holds a Master's degree in commerce, and is a Certified Associate of the Indian Institute of Banking and Finance.

She joined the RBI as an officer in April 1972, and has worked in different capacities including Executive Director of the RBI from June 2003. She has also served for two years (2001?2003) on deputation to the International Monetary Fund.

Naina Lal Kidwai, CEO, HSBC India

Mon, 12 Jan 2009 08:24:12 UTC

Naina Lal Kidwai, CEO, HSBC India

Naina Lal Kidwai is the CEO of Hongkong and Shanghai Banking Corporation Limited, India.

She took over from from Niall S K Booker on May 5, 2006. She joined HSBC in November 2002 as vice chairman and managing director, HSBC Securities and Capital Markets India Private Limited.

She began her career in banking with ANZ Grindlays Bank (acquired by Standard Chartered bank in 2000)and then moved on to head the Indian operations of Morgan Stanley. She left Morgan Stanley in 2002 to join HSBC India.

Fortune magazine listed Kidwai among the World's Top 50 Corporate Women from 2000 to 2003. She has been awarded with Padma Shri, one of India's highest civilian honours.

India's top women bankers

Mon, 12 Jan 2009 08:17:26 UTC

India's banking sector has several women at the helm of affairs. In the corporate world dominated by men, these women have proved their mettle and made significant contribution to their respective businesses.

They are a part of corporate India's success story.

According to Chanda Kochhar who was appointed as ICICI Bank's new chief executive officer, companies must consider merit and not be biased to any gender and women should not expect to be treated differently in any field.

Meet the women who hold top positions in India's banking sector...

Chanda Kochhar, CEO & MD, ICICI Bank

Chanda Kochhar will be ICICI Bank's new chief executive officer and managing director with effect from May 1, 2009 for a period of five years.

The 47-year old Chanda Kochhar is currently joint managing director of ICICI Bank. Kochhar heads the corporate centre of the bank, is the chief financial Officer (CFO) and is also the official spokesperson for ICICI Bank.

From a management trainee to the post of the ICICI Bank's chief executive officer, it has been a winning journey for Chanda Kochhar.

Morgan Stanley starts India PE deals

Mon, 12 Jan 2009 08:14:30 UTC

Morgan Stanley's private equity unit has invested $37.5 million in an unlisted firm in its first transaction in India, and a top official said the firm expected a busy 2009 as the need for capital drives deals.

Morgan Stanley Private Equity Asia took a "significant minority" stake in Indian castor oil maker Biotor and was focusing on healthcare, education, financial services and consumer products, said Srinavasa Rao Aluri, managing director of its India PE unit.

"We have the dry powder, a good team in place and a healthy pipeline, which makes the coming year look interesting," he told Reuters. "I do hope the activity will be feverish for us next year."

Two-thirds of a dedicated $1.5 billion Asia fund raised last year was still available, and the firm hopes to deploy a good part of it in India over the next two years, he said without elaborating.

"This is a good time for PEs to make an investment in the country," said Aluri, who joined Morgan Stanley in May after six years at ICICI Ventures, the private equity arm of No.2 lender ICICI Bank (ICBK.BO).

"You still need to push for a change in the organization but at least you don't have the valuation pressures."

The benchmark share index has tumbled 53 percent so far this year as the global credit crisis cripples market values.

The sharp fall has also depressed share sales, pushing capital-thirsty companies to look to private equity firms with money to spend.

Private equity and venture capital investments in India rose to $9.7 billion in the first nine months of this year from $9.5 billion a year earlier, according to Venture Intelligence, an Indian deal-tracking firm.

Morgan Stanley would help Biotor, a profitable firm with revenue of about 10 billion rupees, develop and market substitutes for petrochemicals that are used in autos, paints and lubricants, Aluri said.

"Even in this slowdown, we still see growth coming. Its products are drivers of green substitutes for petrochemicals and are used across sectors."

($1=48.5 rupees)

Does sticking on at a firm for long pay?

Mon, 12 Jan 2009 08:12:38 UTC

It would seem that loyalty has no place in today's competitive business world, with employees pole vaulting from one job to another for a better "package". Loyalty cannot be bought though, as it's a two way street which needs to be travelled on by both, the employer and employee. And although sticking on at an organisation might feel like a waste of time, it can also pay off, big time!

Case in point, Chanda D. Kochhar, who was recently appointed Managing Director & CEO of ICICI Bank from May 1, 2009 to March 31, 2014.

Kochhar joined erstwhile ICICI Limited (ICICI) in 1984 and was elevated to the Board of Directors of ICICI Bank in 2001. During her career, she worked and held leadership positions across all key businesses, including corporate banking, project finance and retail banking. She was instrumental in establishing the bank during the 1990s, and subsequently headed the infrastructure finance and major clients groups in ICICI.

To hold them back, employees are given COMPLETE freedom

Retaining an employee depends on the attitude of the organisation and so, self-motivation plays a very important role. With recession, some of the following measures may have been affected, but this is what employers were resorting to in order to retain their best employees:

1. Creating a leisurely atmosphere at work.
2. Adopting perfect leadership, where the employees are not told how to work and are given the liberty to take calculated risks.
3. Show appreciation in the form of rewards, appraisals, perks, internal and external backup.
4. Additional responsibility is granted to individuals who are willing and wanting.
5. Minimum to no interference from bosses, but making sure the results come across.

Mansi Shah, Assistant Manager HR, Insta Group
Often, employees don't get a chance to talk to management. They ultimately resign. While monetary growth is a definite outcome of job hopping, an employee doesn't necessarily gain as far as the learning curve goes. That comes with sticking it out in one firm for a while.

Does loyalty matter?

Anupam Bagri, Manager (marketing), with a television news channel
It pay to stick in one organisation only when there opportunity for growth and challenges. This is possible when a worker has proved his/her mettle. On the other hand, they need to know their calling. They must strive to be in the right job. But if a great opportunity comes along, you should grab it rather than stick around for loyalty.

Abhishek Lodha, MD, Lodha group of Companies
It makes sense to stick around for long if the organisation is the right fit for you. As the organisation grows, the individual grows too. If I had to choose among two employees of equal talent, I would go for the one who has been loyal to my firm.

Kabir Roy,Senior Software Engineer with leading IT Firm
Sticking out in one organisation should be for one reason only individual growth. If the organisation contributes to your individual growth, there is more than just opportunity knocking on your door. A person should stay around for an average long period, because if growth takes longer, the wait wouldn't be worth it. Right now, when employees are leaving corporates high and dry, I would say, loyalty is a most sought after trait.

Take risks at your workplace, instead of job hopping
MS Kirtane, Member of the Board, Alchemy Management Consultancy, and Faculty & Managing Director, Pegasus Institute for Excellence, tells us how you can use your organisation to your benefit
Modern-day careers are more like a mosaic of experiences rather than climbing a ladder step-by-step. There are quite a few advantages to staying on in one organisation (for a considerable period of time; say 5 years).

>>You can look at opportunities within the same organisation across different business units or across functions (which may not be easy if you are looking for opportunities outside the organisation).
>>You can take more risks and explore more areas if you stay in the same organisation. The learning curve is steep and retention of learning is much better since you are less anxious.
>>However, you cannot stay in one place for too long. When you start getting too comfortable, it's time to move on, either to another role or another organisation, where the learning curve will be steeper.

A good employer strives to retain his best talent, across all levels in the organisation. Evolved organisations do it by creating challenging assignments and stimulating work culture. Designing jobs which provide elbow room for high performers, fair performance management process and multiple learning opportunities are some of the talent management practices good companies adopt.

ICICI to cut rates as new year gift for customers

Mon, 12 Jan 2009 08:07:52 UTC

Housing, auto and personal loan customers of the country's largest private lender ICICI Bank will get their new year gift in the form of a cut in interest rates, its CEO and Managing Director K V Kamath said on Monday.

"We are looking at cutting interest rates very early in January for our housing and other loan customers," Kamath said over telephone from Mumbai.

"The lowering of interest rate would be in new year," he said when asked if the bank was all set to give a new year gift to its customers.

The extent of the rate cut is being calibrated and would be announced soon, he said when asked if the rate could be more than 100 basis points.

ICICI had earlier this month reduced home loan rates for new customers by up to 1.5 percentage point. There are indications that the fresh cut in interest rates would benefit both existing and new customers.

The Prime Lending Rate of the bank currently stands at 17.25 per cent. The bank last revised the benchmark lending rate by effecting 75 basis points hike in August this year.

India's ICICI Bank cuts lending, deposit rates

Mon, 12 Jan 2009 08:04:38 UTC

India's ICICI Bank has cut its lending rates by a half percentage point and interest rates on retail fixed deposits by up to 0.75 percentage points, in the wake of similar moves by the private-sector lender's state-owned peers. The bank slashed its prime lending rate to 16.75% from 17.25%. It has also cut its floating interest rates by a half-point to 13.75%, a move expected to benefit its home and auto loan customers.

ICICI Bank ties up with BSNL for bill payment- Jan 5th, 2009

Mon, 12 Jan 2009 08:01:52 UTC

ICICI Bank ties up with BSNL for bill payment

Mumbai, Jan 5 : ICICI, India's second largest bank, today announced a partnership with BSNL Cell One to facilitate bill payment for its users across all the 27 circles through ICICIBank.com.

ICICI Bank is the largest player in the online Bill Pay services with 143 billers in this programme, which offered a one stop shop for its customers with the widest range of utilities like electricity, mobile and landline, water and property tax, LPG, DTH and cable services, life and general insurers, mutual fund, credit cards and schools.

The Bank also offers online Shopping Mall facility wherein customers can pay after shopping online on a merchant's website.

Currently ICICI Bank has a payment gateway in more than 1,100 merchant web sites for online shopping.

ICICI CEO-designate Kochhar to get Rs 36-lakh hike

Mon, 12 Jan 2009 07:07:51 UTC

ICICI CEO-designate Kochhar to get Rs 36-lakh hike

ICICI Bank's CEO-designate Chanda Kochhar is all set to get a Rs 36-lakh annual hike, while her predecessor K V Kamath would get a total salary of Rs 20 lakh a year after he becomes non-executive Chairman in May.

As part of the proposed changes in its top management, ICICI Bank's next CEO and Managing Director would get a salary of up to Rs 13.5 lakh per month -- from up to Rs 10.5 lakh per month currently.

At the same time, the bank's current CEO and MD K V Kamath would get a full-year salary of Rs 20 lakh, after he becomes non-executive chairman from May 1.

Currently, the bank has fixed Kochhar's monthly salary as its Joint MD and Chief Financial Officer at up to Rs 10.5 lakh, giving her a pay hike of Rs three lakh per month, or Rs 36 lakh per annum.

Besides the salary, both Kamath and Kochhar are entitled to various other benefits.

In a notice to shareholders seeking their approval for the appointment and remuneration for Kochhar and Kamath in their new roles, the bank on Tuesday proposed that Kamath be paid a remuneration of Rs 20 lakh per annum as its non-executive chairman for a period of five years from May 1, 2009 to April 30, 2014.

The bank further proposed that Kochhar be appointed as its CEO and MD from May 1, 2009 till March 31, 2014, with a salary in the range of Rs 7-13.5 lakh.

Currently, as the bank's Joint MD and CFO, Kochhar's salary is fixed in the range of Rs 4-10.5 lakh.

The current term of Kochhar as Joint MD and CFO expires on March 31, which the bank has proposed to extend for a period of one month between April 1 to April 30, 2009, at the existing remuneration terms.

Besides, Kochhar would continue to be entitled to bonus payments, house rent allowance of Rs one lakh if she was not provided with a company-owned accommodation and other perquisites.

Kamath would also be entitled to ‘payment of sitting fees, maintaining of a Chairman's office at the bank's expenses, bearing of expenses by the bank for travel on official visits and participation in various forums (both in India and abroad) as Chairman of the Bank and bearing of travel/halting/other expenses and allowances by the bank for attending to his duties as Chairman of the Bank.’

Kochhar's proposed salary range is same as the one for Kamath...

Information regarding IPO (Initial public offering)

Mon, 12 Jan 2009 05:45:31 UTC

As the down fall of share market is the talk-of-the-town, most of the people are interested to know about the share market. The meaning of some words that are related to the stock exchange is not known by most of the people in India. Among these, IPO is the one. IPO is nothing but the first sale that is offered by a company to the public. To know more details about IPO, I browsed over the Internet and gathered information regarding an initial public offering which is known as the IPO. As everyone knows that the investors can invest their money either in pubic or in private companies, who are taken part in the stock exchange of India.

In general terms, IPO means the company invite the public and allows them to purchase at least some portion of it. Most probably, this happens only with government organisations. Because, private companies do not show interest to offer their share to the public. They do not want to disclose their company information such as profits, investments and employee details to the public. So, Generally, the investors do not get an opportunity to buy shares in private organisations. To offer IPO to the public, the public companies should follow many terms and conditions. One of the main conditions is that they should show their annual financial report to the public, who purchased shares. One more condition is that they should have a board of directors to take care of company activities.

By offering shares to the public, the public companies get more profits. Now-a-days, not only the major but also the small companies are offering IPOs as they want to extend their businesses. If you purchase shares in a public company, you can provide security to your money. Because, they are supervised by the government authorities not the private members. If you are looking to get share in an IPO, you should have a traded account in any one of the major banks.

Stock Exchange- moving up and down

Mon, 12 Jan 2009 05:23:01 UTC

The general meaning of stock exchange is a place, where security trading is conducted by professional stockbrokers. Due to the unexpected changes that are recently occurred in the global stock market, India is now troubling with various problems. Among these problems, the fall down of share market is one that has brought drastic changes in the economic position of many people, who invest their money in share market.

Most of the share holders of public and private organisation have lost all their properties and became paupers. One of the major IT computer computers C.E.O has created sensation in the share market by his unbelievable statements and sudden decisions. Due to this, the stock exchange market of India is deeply drowned into a quagmire. No one can imagine the position of the share holders, who are invested their money in this IT company. Not only Satyam but also many other companies economic condition is going to be worse than ever before. To save the Indian stock exchange form the pit falls, the Indian Bombay stock exchange has taken decision to replace the stock of Satyam Computers with the Sun Pharmaceutical on the Sensex, which is known as the major drug maker company in India.

As everyone knows that the Satyam Computers C.E.O. confessed that he had inflated company profits for many years, the investors are going to loose hope. When the new C.E.O of Satyam Computers announced that they are going to continue the company works without any interruption, the investors have gathered courage and waiting to see what is going to happen? Some of the investors are crying hard as they lost everything due to the downfall of share market. Many of the small organisations have sold their shares to multi-national companies.

Hence, the stock exchange market is showing mixture results, most of the investors are looking for other sources to save or invest money.

Actualising the dreams of your life

Mon, 12 Jan 2009 02:46:13 UTC

India is presently, one of the fastest growing countries of the world. This country has been undergoing a big metamorphosis especially after the liberalisation in the year 1991. If we talk about the India's real estate sector, then it has been witnessed that this sector has tremendous potential. As the overall economy grows, it fuels enormous demand for huge infrastructure such as residential properties, hotels, and many other offices. There are a large number of projects, which are under way.

The real estate is also one of the greatest contributors to India's GDP. This sector is leading the growth from the front. The incredible pace of growth exercised by this domain of India has inspired the entire world. A large number of foreign investors are also queuing up for investing into this burgeoning sector. The huge potential of this sector in India has not being met properly earlier, due to the lack of foreign direct investment and various other investments. The industrialisation and business activities in India is however, progressing by leaps and bounds. There are numerous cities in India, which are in dire need of infrastructures. Urbanisation is also surfacing in every nook and corner of this nation. Some of the reasons behind the gigantic potential are that millions of skilled labourers, engineers and other professionals are being produced every year in plenty. Furthermore, due to globalisation, numerous multinational corporations have entered into the Indian economy and consequently, they have built their empires here and this whole cycle keeps on repeating its story every now and then. This is also one of the reasons behind the colossal demand for realty in India. Forward going, as greater integration of Indian economy with the rest of the world has also generated a huge demand for infrastructure.

If People want to get some details they can get it about this sector via browsing the Internet. There are a large number portals, which are assisting in every regards. In India, every year, thousands of doctors, engineers and entrepreneurs are being made and in turn, they are fuelling the growth for realty sector. The government should lift the FDI cap so that the desired investments of construction can be availed at ease.

7 lessons to learn from a market downturn

Sat, 10 Jan 2009 12:08:12 UTC

You can never really understand investing until you weather a market downturn. The valuable lessons learned can help you through the bad times and can be applied to your portfolio when the economy recovers. Listed below are some common investor experiences during tough economic times and the lessons each investor can come away with after surviving the events.Lesson #1: Evaluate your egg basketsYou're pulling your hair out because everything you invest in goes down.The lesson:Always keep a diversified portfolio, regardless of current market conditions.In pictures:8 ways to survive a market turndown20 ways to build your portfolioIf everything you own is moving in the same direction, at the same rate, your portfolio is probably not well diversified, and you could stand to reconsider your asset-allocation choices. The specific assets in your portfolio will depend on your objectives and risk-tolerance level, but you should always include multiple types of investments.Taking a more conservative stance to preserve capital should mean changing the percentages of holdings from aggressive, risky stocks to more conservative holdings, not moving everything to a single investment type.In pictures:Break into forex in 12 stepsWorld's greatest investorsFor example, increasing bonds and decreasing small-cap growth holdings maintains diversification, whereas liquidating everything to money market securities does not. Under normal market conditions, a diversified portfolio reduces big swings in performance over time.Lesson #2: No such thing as a sure thingThat stock you thought was a sure thing just tanked.The lesson:Sometimes the unpredictable happens. It happens to the best analysts, the best fund managers, the best advisors, and, it can happen to you.The perfect chart interpretation, fundamental analysis, or tarot card reading won't predict every possible incident that can impact your investment.*.Use due diligence to mitigate risk as much as possible.*.Review quarterly and annual reports for clues on risks to the company's business as well as their responses to the risks.*.You can also glean industry weaknesses from current events and industry associations.More often, an investment is impacted by a combination of events. Don't kick yourself over unpredictable or extraordinary events like supply-chain failures, mergers, lawsuits, product failures, etc.Lesson #3: Proper risk managementYou thought an investment was risk-free, but it wasn't.The lesson:Every investment has some type of risk.You can attempt to measure the risk and try to offset it, but you must acknowledge that risk is inherent in each trade. Evaluate your willingness to take each risk.Lesson #4: Liquidity mattersYou always stay fully invested, so you miss out on opportunities requiring accessible cash.The lesson:Having cash in a certificate of deposit or money market account enables you to take advantage of high-quality investments at fire sale prices. It also decreases overall portfolio risk.In pictures:10 biggest losers in financePlan ahead to replenish cash accounts. For example, use the proceeds from a called bond to invest in the money market instead of purchasing a new bond.Sometimes cash can be obtained by reorganizing debt or trimming discretionary spending. Set a specific percentage of your overall portfolio to hold in cash.Lesson #5: PatienceYour account balance is lower than it was last quarter, so you overhaul your investment strategy before taking advantage of your current investments.The lesson:Sometimes it takes the market an extended period of time to bounce back.Your overall portfolio balance on a given date is not as important as the direction it is trending and expected returns for the future. The key is preparedness for the impending market upturn based on an estimated lag time behind market indicators. Evaluate your strategy, but remember that sometimes patience is the solution.Lesson #6: Be your own advisorThe market news gets bleaker every day - now you're paralyzed with fear!The lesson:Market news has to be interpreted relative to your situation.Sometimes investors overreact, particularly with large or popular stocks, because bad news is replayed continuously via every news outlet. Here are some steps you can follow to help you keep your head in the face of bad news:*.Pay attention and understand the news, then analyze the financials yourself.*.Determine if the information represents a significant downward financial trend, a major negative shift in a company's business, or just a temporary blip.*.Listen for cues the company may be downgrading its own expected returns. Find out if the downgrade is for one quarter, one year or if it is so abstract you can't tell.*.Conduct an industry analysis of the company's competitors.After a thorough evaluation, you can decide if your portfolio needs a change.Lesson #7: When to sell and when to holdThe market indicators don't seem to have a silver lining.The lesson:Know when to sell existing positions and when to hold on.Don't be afraid to cut your losses. If the current value of your portfolio is lower than your cost basis and showing signs of dropping further, consider taking some losses now. Remember, those losses can be carried forward to offset capital gains for up to seven years.Selective selling can produce cash needed to buy investments with better earnings potential. On the other hand, maintain investments with solid financials that are experiencing price corrections based on expected price-earnings ratios. Make decisions on each investment, but don't forget to evaluate your overall asset allocation.ConclusionDownward stock market swings are inevitable. The better-prepared you are to deal with them, the better your portfolio will endure them. You may have already learned some of these lessons the hard way, but if not, take the time to learn from others' mistakes before they become yours.

Satyam future in doubt

Fri, 09 Jan 2009 11:56:55 UTC

Fraud puts Satyam future in doubt— Satyam Computer Services' shares plunged to an 11-year low on Friday as analysts said India's biggest corporate scandal in memory called into question the future of the outsourcing firm.Acting chief executive officer Ram Mynampati has said the company, whose market value has shrivelled to $330-million (U.S.) from over $7-billion just six months ago, faces a crisis of unimaginable proportions following chairman and founder Ramalinga Raju's admission of years of accounting fraud on Wednesday.Satyam's board – what's left of it after Mr. Raju, his brother and four independent directors quit or tendered their resignations – meets on Saturday to consider options that might include inviting a takeover or strategic investor, appointing an investment banker, and deciding what to do with the latest quarter's results, which have to be published this month.The chief financial officer has also offered to resign after Mr. Raju's admission that profit had been overstated for years and that about $1-billion or 94 per cent of the cash and bank balances on Satyam's books at the end of September did not exist.“There's a big question mark over everything. We don't know what kind of business model they have now,” said Amar Ambani, vice-president of research at broker India Infoline.“Raju's declaration says that at the operating level the margin was 3 per cent, so at the net level it must have been a loss, which makes it extremely unviable. They have been borrowing to pay salaries, which means they have no cash at all.”Satyam shares slumped to 11.5 rupees (28 cents), their lowest since March, 1998, and a far cry from a 2008 high of 544 rupees, before ending down 40 per cent at 23.85 rupees.The stock has fallen 87 per cent in two trading days, pulling the broader market down. But shares in Satyam's main rivals, Infosys, Tata Consultancy Services and Wipro, rose on expectations they would pick up clients.“Other IT companies could gain Satyam's clients, and also they are better governed, which is why Satyam's loss has been their gain in terms of stock prices too,” said Harit Shah, a research analyst at Angel BrokingSatyam will be removed from India's benchmark stock index, the Bombay Stock Exchange's 30-share Sensex, from Monday.Analysts said recent hopes that Satyam could survive by being taken over had been dashed, given the scope of the scandal and the potential for big legal losses.“The largest scandal in India's corporate history calls into question the viability of the company as an independent entity,” consultancy Forrester said in a Jan. 8 research note.“As a result, sourcing and IT executives need to actively review their exposure to the company and their options as a cloud of uncertainty hangs over the company.“Both clients and employees will desert Satyam as a result of competitive wooing,” it said.Satyam specializes in business software and back-office services for clients including General Electric and Nestlé. It said it was contacting key customers to assure them services would continue as normal.National Australia Bank Ltd., Australia's top lender, said it was reviewing a contract with Satyam for system development and support to 2011.“Satyam is continuing to deliver on the contract ... and is meeting its contractual obligations. Contingency plans are in place to ensure continuity of service,” a bank spokeswoman said.The chairman of Larsen & Toubro (L&T), India's top engineering and construction firm, said the uncertainty around Satyam meant L&T had no plans to alter its near-4-per-cent stake in the outsourcer, which it built up in early January.“When we invested, our idea was to strike some sort of go-to-market strategy, some sort of strategic alliance, if it was possible,” A.M. Naik told CNBC TV18, noting Satyam's share price was around 188 rupees before Mr. Raju's resignation bombshell, far higher than the price at which L&T had bought its stake.Mr. Naik did not rule out an alliance with Satyam once there was clarity on its losses and liabilities, including any from lawsuits. L&T runs a mid-sized outsourcing unit called L&T Infotech.Several securities fraud class action lawsuits have already been filed in the U.S. on behalf of investors who bought Satyam American Depository Receipts (ADRs) in the last five years.

Oil strike finally ends

Fri, 09 Jan 2009 11:49:58 UTC

January 9, 2009 In a major relief to people across the country hit by the oil sector strike, petroleum secretary R S Pandey told newsmen on Friday that the oil officers' strike was over and fuel supply would be normal by Saturday afternoon.State-run oil companies -- Bharat Petroleum Corporation, Indian Oil Corporation, Oil and Natural Gas Corporation and GAIL -- went on strike on Wednesday demanding hike in salary.While BPCL was the first to call off the strike, the othe petro giant, Hindustan Petroleum Corporation did not join the agitation at all.As supply started trickling into the petrol stations, Pandey appealed to the public to stop 'panic buying' as that would create more scarcity."The country has adequate stocks of petrol, diesel, LPG, kerosene and ATF (aviation turbine fuel). Attempts are being made to restore full supply by morning. One hundred and thirty eight LPG outlets would be functional by tonight in Mumbai and the rest of the outlets would be functional by morning. The ministry has set up a monitoring cell to keep an eye on the situation," Pandey said.Thanking the media for their cooperation in highlighting the oil crisis, Union Petroleum Minister Murali Deora expressed unhappiness that some officers leading the strike refused to talk to the members of the high powered committee set up by Prime Minister Manmohan Singh. Insterad of engaging in discussion over their grievances, Deora said they decided to go on strike."It gives us no pleasure to dismiss our employees or take action against them. They are welcomed to hold talks. We will look into their grievances, and we will address those that we find as just. They get a good pay packet of Rs 125,000 to 300,000 per month," Pandey said. He complimented the chairmen of those organisations who kept their word and ensured that their employees did not join strike. Army and Territorial army have also helped.While the ministry said more than sixty per cent petrol pumps are already operational, truckers' strike was making dispatches difficult.

Should you rent or buy a home?

Fri, 09 Jan 2009 11:39:37 UTC

buy or not to buy?Tough decision that, unfortunately, has to be analysed (and eventually answered), by you alone.And, make no mistake, the right answer will vary from time-to-time, place-to-place and person-to-person.Profound? Not really.A good approach is to take a quick look at your needs and your lifestyle in, both, the short and long run:Renting is convenient...In a professional hurry? Ready to pack your bags and move to greener pastures? Your driving passion is to sprint up the corporate escalator?You can't think of tying yourself down to anything (a job, a home or a relationship). Everything is in flux.That makes your decision a no-brainer.Don't buy now.You are too flexible and mobile.For you, the advantages of renting far outweigh those of ownership.Here's a sneak preview:The paint is peeling? No problem.The tiles are old fashioned? Who cares?The geyser isn't working? A little inconvenient, but you can manage.After all, what is dear old Mr Landlord for? He will manage (and spend) everything. The poor man has no choice, does he?You are just a lovely being in transit.So put your feet up and relax.You dislike Mr Agrawal, your intrusive, scowl-faced neighbor.Relax. Just don't renew your lease.In short, as a hip and carefree renter, you are free of the drudgery of ongoing expenses and maintenance....but not always smart!Every rose has a thorn! Sad, but true.If you want to throw a late night party with trance music pitched high, sorry. Landlord is just not going to approve.The drab grey on the walls is getting to you. An electric blue is more to your palate. Sincere apologies.And, Poochie, your absolutely divine pet mongrel, she just has to go.Remember, you are in transit. No permanent changes and canine additions allowed in this space -- your landlord's space!And what do you haveto show at the end of your lease tenor?A disgruntled landlord, the stresses of relocating again and tons of rent receipts!You obviously haven't heard of wealth creation.Maybe, just maybe, I should buyAha! Just because you don't like the colour on your walls and you are tired of packing boxes after 11 months does not mean you are ready for the long haul.Financially, this will have a clear impact: You will need to produce liquid cash for the downpayment ( home loan companies do not finance the full cost of the home).This can limit or prevent other investment opportunities. In fact, a substantial portion of your savings will go here and so will a good part of your income, when you begin to repay your loan.Suddenly, you will have a number of expenses, ranging from renovation to monthly outgoings to your society to loan repayments. Insurance of your home possessions may also feature on your list.Gone are the days of picking up the phone and telling your landlord what's not working. Now, as the lord and master of your abode, the carpenter, electrician and plumber are your lookout.Let's not forget the quintessential Sunday society meeting! Or socialising with your neighbours and returning their dinner invitations.And, if you are sick with the lot of them, you don't have the option to leave effortlessly at the end of your lease. Selling is not such a good option (if you actually consider it one!).So why is home ownership so high on everyone's wish list despite the obvious difficulties?Because the tax breaks are great and a home is an excellent financial investment.Most important, buying a home has a huge psychological impact on one's sense of security and privacy. It is a matter of pride.Now, if you think the above is sentimental jelly, consider the following hard facts to arrive at your decision:*.How long do you think you will be living here?*.How much is the current monthly rent vis-?-vis the monthly payment to the loan company (EMI)?*.Do you think the rentals will increase next year (which will affect you)? Also, do you think the price of the house is also going to increase (which will benefit you)?*.How much do you think you will spend on maintenance?Choose the option which is lightest on your groaning wallet.When renters rent:~ Their jobs may require them to move from location to location.~ They might be thinking of shifting cities.~ They may not have enough money for a down payment.~ They may be unsure of where they would like to eventually live.~ They may not want to be tied down right now.How renters win:1.They can shift within a city and between cities fairly easily.2.They don't need to pay a huge down payment, just a security deposit.3. Maintenance and repairs are not their problem.4. They can probably stay in a posh locality they cannot afford to buy.How renters lose:1. They have no special tax breaks.2. They do not stand to gain from the rising value of property.3. They cannot rework the house to their liking.When buyers buy:~ They are clear on their budget and housing expenditure.~ They are psychologically ready to take the plunge. ~ They are tired of 'throwing' away money on rent.~ They have had it to their necks with obnoxious, interfering landlords.~ They want a place to call home on their own terms and conditions.~ They have saved enough for a down payment.How they win:1. They get all the tax benefits on taking a loan.2.They make a fixed monthly payment towards their loan (EMI), and do not have to worry about increased rentals.3. They have a place of their own.4. They can make all the possible changes they would like to within the home.5. Their monthly payments go to the loan company for their own home, not to a landlord for his home.6. The repayment of the loan is a form of a forced savings in an investment (home), which is growing in value.7.They can borrow against the home, once they finish paying off the loan.8.They can take a top-up over the current loan if they need money.How they lose:1. They have to come up with a substantial amount for a down payment.2. Moving out is not so easy anymore.3. They have a loan to repay and that means financial immobility.4.All repairs and maintenance will be their problem.Don't get carried away by the economic aspect.Buying a home is as much an emotional decision as a financial one. Home ownership provides stability and a sense of pride. You can't put a figure to either.If you feel it is time to establish your roots and build a foundation in the neighbourhood and community, you know in which direction you are heading.

Home loan rates

Fri, 09 Jan 2009 11:32:16 UTC

What are the current home loan rates?. Here is a look at what some players are offering. *.FIXED RATES (percent per annum) *FLOATING RATES (percent per annum)#ABN AMRO Bank7.75 7.25 Bank of Baroda9.10? 8.75 Bank of India8.5 ? 9.25 7.5 ? 8.5 Canara Bank7.75 - 97.25 ? 8.25 Central Bank of India8.5 ? 9.58 -9 Citibank-8.25 Corporation Bank8.25 ? 8.57.5 ? 8.25 Dena Bank-11 ? 11.25 Dewan Housing Finance Ltd ? DHFL8.58 HDFC8.25 ? 8.757.5 ? 8.75 HSBC88.25 ICICI Bank8.58 IDBI Bank8 ? 8.57.75 Kotak Mahindra Bank8 ? 8.5 7.5 ? 8.5 LIC Housing Finance87.5 Punjab National Bank9.25 ? 11.75 ? 9 State Bank of India8.5 ? 9.25 ?8.75 Standard Chartered Bank8 ? 8.5 7.5 ? 8.25 Sundaram Housing Finance8.5 ? 9.5 8.25 Syndicate Bank8 ? 97.25 ? 8.25 UTI Bank*9.75 ? 10.75 7.75 ? 8 Vijaya Bank7.5 ? 8.57 ? 8.25 # ABN AMRO also offers the Super Saver Scheme in which the interest rate is 6.5 percent for the first two years. The third year onwards, it turns into a floating rate loan. * UTI Bank: One page on the Web site gives the above rates, while another gives the rate of interest at 9.25 percent with no indication of whether it is fixed or floating. When we called one of their branches, we were?old the fixed rate was 9.75 percent and the floating rate 7.75 percent per annum.?Check with the banks on the fixed loan rates. Some of them fix it only for a few years and take a fresh look at it again. HSBC and ABN AMRO, for instance, re-price their fixed rate loans every 3 years.This information has been obtained from?he housing finance company/ bank Web sites or through calls to their customer service lines. Please verify these rates when taking a loan.

Everything, just a swipe away

Fri, 09 Jan 2009 07:05:59 UTC

Gone are those days, when we had to carry cash with us, whenever we intended to go for shopping or for something else. Now, we don't have to worry about the cash with us which always attracts the eyes of a thief. Nor, do we have to calculate how much change we will get in return. Now, all our dealing and payment can easily be made by just a simple plastic card. These plastic cards are called credit cards. Plastic money is also another name given to them. But the question is what exactly is a credit card and how does it help? Well the answer is simple, these are the cards which are provided by the banks to people. With these cards, a costumer can buy any preferable product and pay the amount with the card, instead of cash. Actually, the banks pay the seller at the time of your purchase which you need to repay later.

This system is called buy now and pay later. The advantage of these cards is not limited to lightning pockets and avoiding cash. This is particularly because, most of the cards have huge credit limit which in turn enable the customer to buy expensive products which are out of his reach at that particular moment. Another benefit of plastic money is that discount offers compliment them. Hotels and shops, sometime provide special discounts on the use of these cards. Banks also offer discount in the form of cash back schemes. These cards are also very useful as they would help your to purchase products from the internet in a very hassle free manner. As almost all the websites require payment in the electronic form, these cards can be used for payment. Another major advantage which compliment the credit cards are that, they are accepted globally. So, if you travel frequently to foreign lands, you don't have to carry bulks of currency with you, all you require is just your card.

Taxation: For betterment of lives

Fri, 09 Jan 2009 05:24:43 UTC

Most of us don't understand what taxation is. The term 'taxation' has been derived from taxes and it means the payment made to the government by the people. Now, the thing which comes in mind, is why should we pay the government from our income? Well the government, utilises the income from taxes for the benefit of the people. In other words, the government uses the money for the welfare of people. The money availed from the taxes are invested into the infrastructure management, for strengthening the defence system of the country, maintaining law and order, providing services like schools, fire stations, post offices etc.

Now, we know why taxes are important and how they are used, but how are we charged with them? Taxes are mainly of two types. The first one is the direct taxes, which are paid directly to the government by the individual and are not transferable to anyone. Some types of direct taxes are income tax, property tax. Income tax is paid on the basis of the annual income of a individual whereas the property tax is paid on the property. The other form of tax is the indirect tax. This type of tax is transferred on the people by companies on goods and services. As a matter of fact, VAT and service tax comes under the indirect tax wings. Quite interestingly, the government also taxes several products such as tobacco and alcohol higher in order to discourage their use. Some other form of taxes are road tax which needs to be paid for the maintenance of roads, customs and excise duty which refers to the tax charged on goods which are imported or exported. In India, taxes are handled by Central, State and Local governments. The Central government looks after the income tax and custom and excise duty, whereas the State government is required to take care of VAT and service tax and local bodies take care of road tax, water tax and property tax. Now, we know why and how we pay taxes, as such it is very important to pay our taxes and also contribute something to the growth and development of our country.

Save your future by taking educational loan

Fri, 09 Jan 2009 05:01:08 UTC

The educational loan is beneficial for those students who want to pursue their education in India or abroad, but cannot take admissions due to some financial problem. A person can easily apply for a loan and can start their studies. One of my best friend has recently applied for this type of so called educational loan. There are many banks and financial organisations which have launched schemes to provide loans for education. These organisations lend long term loans at very low interest rates. If you apply for up to Rs. 4 lacs then no security would be required. A third party guarantee or a collateral is required, if the loan amount is above Rs. 4 lacs and up to 7.50 lacs. For above Rs. 7.50 lacs, one has to deposit a tangible security of suitable value and the assessment of the student's future income.

This security is required for payment of instalments. One can submit in banks or pledge security in the form of bank deposits, house property etc. The repayment of the educational loan starts just in one year after completion of your course or 6 months after securing a job, whichever is earlier. You can also get some deduction in income tax under section 80E. An individual can apply for such type of loans by filling Online application form. By applying for this type of loan, one can brighten one's future. A person is eligible for this loan in case, if he is an Indian and has obtained admission to professional or technical courses in India or abroad. But you must be sure, not to make haste while opting for this type of loan. One should read the rules and regulations very carefully. This is because, the rule and regulations would obviously differ from one organisation another. So, these loans ultimately help the students to cover their varied expenses.

Satyam - Honesty of Ramlinga Raju?

Fri, 09 Jan 2009 12:23:19 UTC

Now everywhere there is a panic. Every channel takes pride in insulting, defaming Ramlinga Raju of SATYAM. There is enough Masala for another one week for newspaper and TV channels. Now Kasab and Pakistan will take a back seat.

Well, anybody there to appreciate anything good done by that person if any? How many people have guts to come in open and confess? How many people are honest enough to tell so openly about the things they should not have done?

There was a time when same media put this company and Raju on high. Why nobody questioned how Satyam is making profit when even companies like Infosys, TCS, Wipro, HCL etc. were not making so comparable profits. Is Raju the only link to find the fault in? What about so called Independent Directors with so elite background. What about Company Auditors with international branding? What about Government agencies? Here if one starts even a small shop he finds number of inspectors, authorities to come to him, showing rules and regulations, ask for each and every details of business transactions. Ask that person who really goes through this pain. Even a vegetable vendor has to keep many such so called auditors happy(?) to get his own bread. Why only one or two questions are asked to such agencies in the media?

Imagine Raju not making this thing open. Imagine him hiding little losses in every quarter and making sheet clean after 8-10 quarters. Imagine him using sub-prime crisis as an issue and showing some losses there. Imagine him leaving the country and settling somewhere. He could have done that. In fact known people might have suggested also who knows?

Questions remain why is this then? He was having everything he wanted on the name of SATYAM. Money and luxury would not have been a problem for him. I feel stakeholders and investors should also be made responsible for this partially. There are so many burdens on today’s CEOs to show profit there is a tendency then to find short cut. Why we do not accept that the way company makes profit, it can also make some loss. Only tree can give fruits till it is cut.

Till today Raju have done great to that company, brought money in the country, many got employment, businesses flourished in India for and by Satyam. There is a lot by him and company in Hyderabad and Andhra Pradesh through Charity.

Let’s realize this. Give him his credit also, and not stones alone. Remember we are all same in one sense. Given a chance to do something wrong anybody will do it. It is the duty of those enforcement authorities to see that everything is going smooth. I think that is why these agencies are made and not to do panchanama afterwards. If valuables are on the road and all are watching a man stilling it…… whose mistake is it?

Who gets caught is the thief. But they should know, “Hamam me sab……….”.

A safe locker for your funds

Thu, 08 Jan 2009 06:18:13 UTC

Saving account is offered by commercial banks and other financial associations. This account is very popular throughout the globe. In simple terms, it refers to an account, in which people invest their money to earn a small amount of interest. This marvellous account even provides an ATM card to the account holder, so that he or she can withdraw the money at his or her own convenience. This account is not like current account, which does not fetch any interest to the current account holders. Saving account is also considered as the safest place, where one can keep one's hard earned money without any second thoughts. This fabulous account can be referred to as such a platform where you can keep your money safely and at same the time, you can even earn a small amount of interest for your funds.

This fantastic account has caught the momentum all over the world due to its unique features and utilities. As per the growing rate of robbery, riot, sudden break-out of fire, your money can be lost permanently in case, of such incidents. As such, if you keep your money locked in the banks, then such unwanted incidents would never knock at your doors. As a matter of fact, once you place your money into your saving account, it is insured to you. To know more details about this terrific account, it is generally suggested one should browse the Internet. You can also apply for this account via online at great ease without any complications regarding the documentation process etc. One of the most promising things about this account is that banks pay you the compound interest on your deposited money. Now with advent of ATM technology, it has eased the problems of visiting banks for cash withdrawal or so. Now you can withdraw your deposited money any time, as the enhanced banking system stays operational 24x7. Thus, to remain safe and happy, place your surplus money in banks by the virtue of such accounts.

Financial help, even for people outside the country

Thu, 08 Jan 2009 06:09:20 UTC

These are torrid times where the flow of money is saturating and the availability of finance is really hard. The credit crunch is also taking its toll on the banking sector, with all the major international banks fighting hard for their survival, as such they are also not giving loans easily. People are also finding it hard to squeeze out loans from the local banks. Banks are more wary in providing loans to immigrants, as compared to giving loans to the native people. This has left a lot of foreign nationals to face certain problems such as shortage of finance. But, if you are an Indian residing in a foreign land then you need not worry. Non Resident Indians or NRIs always have had the option of NRI loans. With Indian banks still standing strong in the recession with the help of RBI regulations, they are continuing the provision for loans.

The eligibility to apply for this type of loan, would not bother you much. However, the concerned person should hold Indian passport with a minimum monthly income of Rs. 10,000. Quite interestingly, his spouse or close relative, who is also a non-resident Indian can also apply. There are different types of loans available under the category of NRI loan and they are personal loan, home loan and education loan. If you want to build a home in India then you can apply for the home loan which is also a category of NRI loan which would help you to buy or reconstruct the property in India. You can get Up to 60 times of the monthly salary of the applicant can be granted as the loan amount. The NRIs can also avail education loan, which can be up to Rs. 20 lacks, in case you want to pursue education in abroad and up to Rs.10 lacks in case you want to pursue your education in India. The tenure to repaying such loan amount can go from 7 years to 15 years. The rate of interest is similar to that of the loans available to people living in India. All major banks, such as State Bank of India, ICICI, HDFC come up with NRI loans.