Conviction of Mind

Wish you all a very happy new year 2012. Have a good health and may all your wishes come true. Always have a goal and work towards it. It should be specific and also measurable. Otherwise, it becomes a wish. Goals for 2012: (1) Maintain personal health. (2) Learn new things in varied topics through khanacademy , wikipedia  and investopedia . (3) Spend enough time with the family. (4) Manage time more effectively. What are your goals for the year 2012?

RBI has de-regulated the savings bank interest rates. It really means that now any bank can give any interest rate in the savings bank account. Because of this, banks are reacting in different ways. Using this in positive manner and giving more interest for the customers to attract more depositors and others increasing the rates to avoid people moving away from them and few others doing nothing. Yes Bank - Raised the interest rate from 4% to 6% and recently to 7% now. For those having amount less than 1 Lakh, it is 6% and more than that it is 7%. Kotak Bank - Raised the interest rate from 4% to 6% For those having amount less than 1 Lakh it is 5.5% and more than that it is 6%. They also have the sweep in account, which is nothing to do with this RBI step. HDFC Bank - Introduced many charges. Particularly Rs. 500/- for closing down your account. Most other banks (ICICI, Axis, SBI) - Hasn't done anything. Remains with the 4%. First, It is not recommended to just move yo...

To know what is NPS and basic introductory details on the same, go to the previous post using the link given  here . Okay. I will be getting more than (at least risk-free?) 8% always right? Simply, What are the benefits and returns in NPS? Short Answer. No. There are many Pension Fund Management companies which will be managing your money on your behalf to get you returns for your Pension. It is again your choice to select the Pension Fund Management Companies. Based on the choice of the fund (Auto-Choice/Active Choice),                     the returns has historically varied from 4% -26% . But this cannot guarantee this will always give positive returns, as it have some equity exposure (for Active Choice, Asset Class E). But in the long run certainly, equities tend to outperform the debt and is always better. Charges: Remember this rule: If you invest more in NPS, you will end up having less charges as the char...

New Pension Scheme is introduced by the Govt. of India to provide pension for all the salaried and self-employed citizens of India. This has several useful features and benefits backed by the Government of India. How to open an NPS Account? What is the procedure? Simple. There are many POPs (Point of Presence). Almost all the public banks and some of the private banks are involved in here. You can ask the procedure through the toll free number before going there. All the State Banks, Muthoot and private banks like Axis bank, ICICI bank are some of the famous POPs available. Go to the nearest POP. Get your address proof and Id proof along with you. (PAN card and Ration card works best) If ration card is not available, get your telephone bill. Minimum Investment: Rs.6000 in a year. In installments, at least Rs. 500/- in a month. What are the advantages of NPS? * Primarily to have the planning for your retirement pension, if you are salaried/self-employed. * Good lock-in peri...

One Minute Manager is all about finding the manager with perfect managing and leading skills and the 'secrets' behind his managing style in his own words. The first and important secret: - Setting Goals - One Minute Goals It is important to know what the person really is behind to know whether he is performing well. In the marketing world, it is targets set. In the programming world, it is the success of the project or the component that the client want within the deadline. It is important to set the goals upfront in all the means in a broad way to understand what are the requirements of him/her in this role as a responsibility. The Second and Third Secret go hand in hand. - One Minute Praising (Second Secret) This involves catching people doing something RIGHT towards their assigned task. Once they find, praise them honestly and give your opinion as how important he is to your organization. This praising re-assure him to do well in future. Make sure not to praise him f...