SBI looks to reach 12,000 unbanked villages by yr-end

Posted by admin – May 12, 2010

State Bank of India (SBI) wants to extend its footprint to 11,943 unbanked villages, with a population of at least 2,000, this financial year. The country’s largest lender recently submitted its plan to the Reserve Bank of India (RBI).RBI had asked all Indian banks to submit their plans on financial inclusion, duly approved by their respective boards. The central bank also wanted to know the coverage plan for unbanked villages.
Out of 6,00,000 villages in the country, about 64,000 villages with a population of more than 2,000 are deprived of a formal banking channel. The proposed target for SBI shouldn’t be difficult as the bank has already extended banking facilities to 1,00,000 villages, that were unbanked before.

According to the plan submitted to the central bank, SBI will open branches in 512 villages, while the rest will be covered by business correspondents (BCs). The state-run lender will start charging customers who are accessing banking facilities in the unbanked villages through the BC model, a senior official from the bank said. RBI has allowed banks to charge such customers.

Other banks on target too
Other public sector banks are also gearing up for the expanded financial inclusion project and have submitted their plans to RBI. Bank of India is planning to extend banking services to 7,000 such villages in the next three years, of which 2,100 will be covered before March 31, 2011.

Bank of Baroda will be extending services to 3,000 unbanked villages, with a population of more than 2,000 in the current year.

Union Bank of India also aims to provide banking facilities at least once a week to 4,500 villages having more than 2,000 population. In addition, Union Bank will spread banking services to 2,500 unbanked villages, over and above the plan that has been submitted to RBI.

BC guarantee plan rejected
The central bank has, however, rejected SBI’s proposal to secure a guarantee from BC.

In recent interactions with finance ministry officials, several bank chiefs said one of the biggest challenges they face is the appointment of BCs as they carry the bank’s name and the risk. In order to mitigate the risk, SBI had mooted the proposal of asking for a security from the correspondents.

The other challenge, bankers pointed out, is the initial cost for extending banking services to areas that are not expected to generate volumes. According to SBI’s estimate, the cost of offering banking services to the unbanked villages could be around Rs 1.25 lakh a year.

The government has already said it was open to the idea of subvention to banks in the initial years for promoting financial inclusion.

RBI credit policy

Posted by admin – April 20, 2010

The Reserve Bank of India (RBI) Governor D. Subbarao to be present the annual monetary policy for this fiscal year 2010-2011 on Tuesday, 20 April 2010, accompanied by a classical predicament faced by all central banks of India to keep the momentum of growth or to harness in inflation.

The Reserve Bank of India (RBI) Governor D. Subbarao has already signaled the exit of an accommodative monetary regime to tackle spiraling price rise by hiking key interest rates in last few months.

With the signs of improvement in credit growth and a vision for near-term economic growth, The Reserve Bank of India (RBI) Governor D. Subbarao is expected to hike its repo and Reverse Repo Rates (RRR) by about 50 basis points (BP) in the meeting that is held on Tuesday, April 20, 2010.

The repo rate now stands revised to 5 percent and the reverse repo rate to 3.5 percent.

RBI To Present Annual Monetary Credit Policy

The repo rate is the interest charged by The Reserve Bank of India (RBI) on borrowings by commercial banks.
It is also time for the apex bank to adopt a neutral policy rather than an accommodative policy as there have been rising consumer demands and recovery in private apex.

According the generic consensus of the market is that the The Reserve Bank of India (RBI) credit policy on Tuesday, April 20, 2010 is sure to be bringing in a overabundance of changes.

Economists and bankers of India are divided in their opinion of the credit policy.

Among those who participated in the poll 55% are anticipating that there will be a quarter percent increase in reverse repo and repo rates.

The remaining 45% predict half a percent of elevation in policy rates.

Another point of deviation is that some of the respondents suppose that The Reserve Bank of India (RBI) will make a move towards sectors like real estate or capital markets by growing risk weights.

It has been revealed that the most people are concerned about Cash Reserve Ratio (CRR).

The Cash Reserve Ratio (CRR) is that portion of the customers’ deposits that the bank has to keep idle or in liquid form.

An increase in the Cash Reserve Ratio (CRR) harmfully impacts margins immediately.

This is the main point of disagreement between bankers and economists are whether and how much The Reserve Bank of India (RBI) will change Cash Reserve Ratio (CRR).

35% are of the opinion that RBI will hoist it by 25 basis points, 30% believe it will be increased by 50 basis points and 35% believe it will maintain status quo.

tcs salary hike 2010

Posted by admin – April 20, 2010

TCS salary hike 2010 has been declared with TCS q4 results. TCS has decided to give salary hike during FY 2010-2011. However the exact amount of salary TCS salary increment is yet to be decided.
TCS employees have been living with no salary hikes for last one year due to recession. It seems that good times are here again for 1,50,000 TCS employees. TCS salary hike 2010 has been annouced after Infosys has done so recently -following the trend in market.
Ajoy Mukherjee TCS global head of HR said that TCS has decided to give salary increments during financial FYE March 2011. Here is a summary of what he indicated:
There definitely will be a wage hike in TCS
The quantum TCS salary hike 2010 is not finalised
TCS is We are considering three options
Salary Structure of TCS
The company will maintain the salary structure it moved to in FY10 that is:
Quarterly variable component + Annual variable component
The Variable components at the junior level is around 20% and at senior levels it is as high as 45%.
Quarterly variable component is based on the company and business unit’s performance
Annual variable component is based on the individual’s performance.
There are speculations among employees as to what will be the hike. However some unconfirmed sources peg the hike to be be between 10 to 15% across the board.

TNPSC Departmental Exam Results 2010

Posted by admin – April 2, 2010

Tamil Nadu Public Servide Commission (TNPSC ) declares the Results for SUBORDINATE ACCOUNTS SERVICE EXAMINATION PART – I(A) AND (B). You can easily check the results by clicking the link below.

For Results CLICK HERE

For Official Site CLICK HERE

jest 2010 result

Posted by admin – March 16, 2010

The Harry Ransom Center, a humanities research library and museum at The University of Texas at Austin, has acquired the archives of writer David Foster Wallace, announced the center on March 9. Highlights of the collection, some of which can now be viewed online, include handwritten notes and drafts, research, and teaching materials owned by the Infinite Jest author, who died in 2008.

The collection includes handwritten notes and drafts of Infinite Jest, college and graduate school essays, and Wallace’s heavily annotated books by Don DeLillo, Cormac McCarthy, John Updike, and more than 40 other authors. Publisher Little, Brown and Company, will reportedly contribute its editorial files, including materials for Wallace’s posthumous novel The Pale King, which will be added to the archives following the book’s April 2011 publication.

Thomas F. Staley, director of the Ransom Center, says of Wallace, “His works are intricate, complex, often humorous, sometimes challenging, but almost always brilliant, and his archive not only records his creative process but also demonstrates the dedicated choices he made in his works.”

Wallace’s materials at the Ransom Center will reside alongside the papers of writers such as Don DeLillo, Norman Mailer, James Joyce, and Samuel Beckett.

Wallace, who suffered from depression, committed suicide in 2008, after having achieved widespread success for his 1000-page 1996 novel Infinite Jest, about a film so entertaining that its viewers lose interest in everything else. Other published works by Wallace, who was also a professor of creative writing and English at California’s Pomona College, include The Broom of the System, Brief Interviews With Hideous Men, and numerous collections of stories and essays.

The Wallace archive will be available to the public later in 2010; for now, several items can be viewed at www.hrc.utexas.edu/dfw, and a selection of materials is on display in the Ransom Center lobby in Austin, Texas through April 9.

uss indianapolis

Posted by admin – March 16, 2010

William Hafford Sharp, a longtime Jacksonville resident who survived four days in shark-filled waters during World War II, died Sunday. He was 83.

Mr. Sharp’s daughter, Molly Jenkins of Jacksonville, said he died after falling in his home and striking his head.

A native of Decatur, Ala., Mr. Sharp was a 19-year-old seaman aboard the USS Indianapolis when it was torpedoed by the Japanese a few minutes after midnight July 30, 1945.

He was one of about 900 men out of a crew of 1,196 who made it into the water before the heavy cruiser sank abut 450 miles from the Philippines. For four days Navy officials were unaware that those men, most left floating in the Pacific without food and water, were surrounded by sharks.

In a 2008 interview with The Florida Times-Union, Mr. Sharp said he began hallucinating by the third day. “Your mind was gone,” he said.

Eventually he was picked up by a Navy seaplane, which was so crowded with survivors they tied him to a wing, Mr. Sharp said.

In the end, only 317 men survived. The ordeal was later recalled in a memorable scene from the movie “Jaws.”

After the war, Mr. Sharp moved back to Decatur and worked a variety of jobs, including as pastor of five churches. He came to Jacksonville in 1976 to teach at Victory Christian Academy and later retired here.

In addition to his daughter, Mr. Sharp is survived by his wife, Faye Sharp, another daughter, Ginger Greer of Pikeville, Tenn., a son, Jeff Ripper of Jacksonville, and five grandchildren.

The funeral will be at 10 a.m. Wednesday at Mandarin Baptist Church, 11244 San Jose Blvd. Interment will follow at the Jacksonville National Cemetery.

4 nabbed for ferrying hawala money in Indore

Posted by admin – March 16, 2010

A hawala (money laundering) racket was busted in Indore with the arrest of four people wearing specially-designed clothes to carry Rs.80 lakh with them, police said Sunday.

‘Each of the four accused nabbed Saturday was carrying Rs.20 lakh in cash. The money was stashed into clothes having 20 pockets each,’ said Gitesh Garg, a senior police official in Indore.

‘The accused, identified as Rakesh Patel, Ashok Patel, Kirit Patel and Rajesh Patel, hail from small towns in Gujarat. They were wearing a shirt, T-shirt, inner wear and special inner wear vest,’ said Rakesh Vyas, the police official who led the team that arrested the four men.

‘This special dress was tied with strings at five places. The money was securely tied to their body,’ he added.

‘Interrogation of the accused revealed that they were working for different hawala agents on a monthly salary of Rs.4,000 for ferrying the consignment of cash,’ said Indore Additional Superintentent of Police Manoj Singh.

A police official said such errand runners mostly belong to poor families and often do not know the volume of cash they are carrying. The kingpins keep their families under surveillance till they complete their mission successfully, he added.

Ugadi Festival Clebration In India

Posted by admin – March 15, 2010

HYDERABAD, INDIA (GaeaTimes.com) — The festival of Ugadi is popular in the southern fringe of India. Ugadi is celebrated as a new year by Kannada and Telugu community in the state of Karnataka and Andhra Pradesh respectively.

Each year Ugadi is celebrated on different day, because Hindu calendar is a lunisolar calendar. Ugadi falls in the month of Chaitra, i.e. in March or April.

Ugadi is the first day of of a new year. The same festival is celebrated on the same day, as Gudi Padwa by the people of Maharashtra.

Ugadi brings happiness, peace and prosperity in your life. Lets your life be enlightened by the arrival of Ugadi.

Ugadi SMS
This Ugadi, may you be blessed with good fortune as long as Ganeshji’s trunk, wealth and prosperity as big as his stomach, happiness as sweet as his ladoos and may your trouble be as small as his mouse.
Happy Ugadi

Fortunate is the one who has learned to Admire, but not to envy.
Good Wishes for a joyous Ugadi and a Happy New Year with a plenty of Peace and Prosperity.

May the festival of lights be the harbinger of joy and prosperity. As the holy occasion of Ugadi is here and the atmosphere is filled with the spirit of mirth and love, here’s hoping this festival of beauty brings your way, bright sparkles of contentment, that stay with you through the days ahead.
Best wishes on Ugadi and New year.

2010 NCAA printable bracket

Posted by admin – March 15, 2010

he Schedule as well as the Bracket starts of the NCAA College Basketball league is away. Citizens can at the moment get grasp of it to stay way of the plan of the games as well as update themselves through the victors during March. Its March folly as well as every college in the US plans to be at the middle of the group, to be the winner.

If you desire to see the extremely updated as well as the newest bracket listings only go to the website of ESPN in addition to go to college basketball group to watch their records of the North, South, and East as well as West NCAA complete examination. This is, in fact a chilly material. Anyhow, there is also the printable group of NCAA.
The NCAA Printable Bracket for College Basketball’s NCAA Championships 2010 Final Four March Madness has now been released via the NCAA.
The bracket is actually without charge, live stream, as well as printable from every browser. Furthermore, this printable bracket is the administrator one as of the NCAA Championships.
Moreover the NCAA has two unique characteristics. One is that they offer the present Bracket to Print as well as they provide you a blank Bracket to print if you desire to do so.
Now let us see the NCAA Printable Brackets. In the initial round; it’s Kansas against Lehigh, UNLV v UNI, Michigan St against. New Mexico St, Maryland against Houston, Tennessee against San Diego St, Georgetown against Ohio, Oklahoma St against Georgia Tech as well as Ohio St against UCSB.

Also catch Syracuse in opposition to Vermont, Gonzaga against Florida St, Butler against UTEP, Vanderbilt against Murray St, Xavier against Minnesota, Pittsburgh against Oakland, BYU in opposition to Floria, also Kansas St in opposition to North Texas.

Beware the ides of march

Posted by admin – March 15, 2010

A soothsayer tells Julius Caesar, already on his way to the Senate (and hisdeath), “Beware the Ides of March.” Were it not for William Shakespeare’s play Julius Caesar (Act I, Scene II), this ominous warning would have been lost forever.

That Roman soothsayer’s warning is a compelling command for Bootstrap marketers. As the Ides of March bring you to the end the first quarter, it’s time to validate your marketing plan. Are you really on the right track?

Planning plays an integral part in achieving success. Most likely your marketing plan was prepared late last year. Deciding strategy and tactics, what to do and how to do it, was your challenge.

But those who outperform their competition do extremely well at both strategy and tactics. They know that flawless execution creates the difference.

POSITIVE VISION

According to an Adology Research study: “Well over half of small business owners (57 percent) say sales in 2009 were equal to or higher than sales in 2008, down from 60 percent who said the same last year. Looking ahead to 2010, 86 percent expect sales to be equal to or higher than 2009 figures, up from 83 percent last year.” With these expectations in mind, should your revenue forecast be adjusted?

A value proposition clearly states the tangible results your customer receives from using your products or services. Is what you do for others patently clear in terms of tangible business results? A powerful value proposition breaks through clutter and gains attention. Do you confirm your value proposition with actual success stories? The more specific your value proposition, the better it is.

There’s hardly a marketing person today who isn’t using some sort of a systematic approach to help measure marketing strategies. Marketers need to know the actual return on investment (ROI) of each dollar. They need to know it often, not just annually.

PINPOINT TARGETS

Is your marketing plan clearly focused on a few attainable objectives? Say your objectives are acquisition of new customers and retention of the existing ones. Up to now, is program performance against each objective measured, proven positive? Your best targets are those customers most likely to buy from you. While pinpointing your market narrowly takes a little extra effort, those who aim at a smaller target are far more likely to make a direct hit. Resist the temptation to be too general in the hopes of getting a larger slice of the market. That’s like firing a 12-gauge shotgun in random directions instead of focusing a sharpshooter’s rifle dead center on the mark: It’s expensive and dangerous.

PROTECT CASH FLOW

Former Vice President Dan Quayle once said, “Business failures are caused by depositors who don’t deposit enough money to cover payments due to mismanagement.” Put more clearly, “When cash inflows and cash outflows don’t keep pace with each other, it creates a gap leaving a business short of cash.”

By managing cash flow effectively, you’ll avoid closing down marketing programs when cash gets tight. The bean counters always say, “Marketing is the easiest expense to cut back.” Cash flow basics tend to be plain common sense for most small businesses: Pay bills only when due, collect revenue as fast as possible. Look at your invoicing process, terms and conditions of sale. Can adjustments be made to bring in cash faster? How can marketing payments be stretched?