The slow down in US had a cascading effect to EU as well.All the major contracts are undergoing tough scrutiny and no major purchase decision for new projects EU as well.
The Indian IT majors had felt the pinch in the process of venturing to EU markets .If you could notice the counter bid proposed by HCL against infosys is a clear indication that the tough competition started looming within the major IT vendors itslef.
Also the companies expected capture some new markets in EU.The global financial tremors has a clear indication that the EU markets were not an attractive option as they planned..
What will happen if this slow down persist?Are the IT companies try to tap the domestic companies or the countries like Middle east and other Asian Markets..
What will happen to the scale of recruitment this IT industry had been projecting all along?.It is a tough time sailing for IT majors.
Tuesday, 30 September 2008
Tuesday, 23 September 2008
Mind mapping-Lord balaji
Whether I can use acronym “Mind mapping” which is correct or not ,I have rather experienced or felt many people have a common though about the Lord Balaji, god of seven hills.I just been to the temple I was just wondering the visitors count to the temple shrine is more than thousand and thousands. My very first question in my mind was how this temple is unique and making so much of vistors a day…. If you closely watch a person like Superstar Rajinikanth his visit to Tirupathi temple would be more compared to his Himalaya visit….There are very many reasons untold but the power of intuition or some unknown unsaid communication implied through some form after the visit to this temple……..This strange experience can never be told but experienced that only pulls this much of crowd. How this much of crowd attraction or pull of the people could happen.How it is possible?This was the backround years before say 50 years and 100 years before.. ..
When I was travelling to the hills by bus was thinking …What makes the people to make visit to this holy shrine? This particular temple being one of the richest temple in the world and whether this lord demanding money from you or the people who come for this temple are so greedy. The richest Indians and mightiest celebrities are so greed for their status and well being.. .what is so great in this temple? The questions will be there in the mind of every one including me.
Is there any natural vibration to this temple….Historically the greatest king of kings like Krishna Deva Raya being an adherent devotee for the temple. The Maharaja’s of Mysore has a very long association with this temple even today…..Whether it is a myth or something there in the temple. What we can call us? Can science give an answer why our people belief system targeting one pilgrim centre more than any thing else every day..Many of the Andhra and people from Northern tamilnadu are by hereditarily associated with this great temple..Why?
Is there is any powerful vibration there with this place …It is a place of jeeva samdhi for any great saint in this particular place…How this Lord has been related to money…apart from the Purana storey.
I have the above questions in mind …I have casual talk to many on this subject …But one thing realized in common with them…They say something happened after they visit this temple…what is that some thing ?For many people they might think their career is like this way..they have been pushed to a different level which they never expected….They have been longing for something but they have been pushed for some thing…They have been indecisive on many things but they have been pushed to decide…But it is not only the money..
After Darshan with temple while coming out from the entrance one of my colleague showing a person who is physically challenged by an accident not able to waslk properly passing through the main entrance .He shown him and told do you think that this person can imagine of having Darshan to Lord Balaji…no ..It is not possible it is the Lord’ wish he gives Darshan to this person inspite of his challenges.
Though the temple is highly crowded it is not easy to plan any visit to this temple. This temple is so unique. The one thing which we can observe when you visit the temple is a cumulative thought of all the devotees.Each and every one devotee has a very close intimate relation with the 8 feet idol and an intuition governs them with the travel.
For many a visit to this temple is a turning point either very good or very bad we cant relate only money to this Lord.I think this place has some triggering mechanism of the once own Karma to make the good or bad to happen. There is something which subconsciously drive…
I have an experience when I went for Darshan for this temple….At the main shrine to do Drashan I was just walking …some thoughts are coming to my mind but the thought got suppressed in front of the lord.It is not the crowd you can feel the magnetic wave or something else powerfully does something to you…
Recently I have watched this 50years old video footage and I have spiritual experience..I couldn’t say by words…but feel like crying thanks my lord…This is a video footage of Abishekam taken 50 years before…..You cant imagine to have aDarshan in your life for that you may have to wait for a minimum of 20-25 years for this abhsihekam Darshan…I don’t know why such video coverage has not been taken now a days in this temple but it arouses your thoughts.
Many people minds are mapped in common particularly this Lord Balaji….it would intersect many people’s thought….I think it is connecting many subconsciously.
Please feel free your experience or comments if any with this temple.
I have read an article about the wealth of Lord Balaji(jewellery alone) it is estimated around 35000Crore. If we really assess the asset value of Lord balaji it may worth more than a lac crore almost near to India’s budget….How this wealth is going to distributed to the needy?If you have any other view on this can share in this blog.
Sunday, 21 September 2008
Celebrity Miss India 2008
Parvathi Omankuttan like evry other celebrity like to vent her career in the bollywood Industry.
Wednesday, 17 September 2008
Post Natal depression for Angelina Julie
Angelina Julie one of the highly searched name celebrity in Google struggling with depression ever since the birth of her twins Vivienne and Knox two months ago.The common problem in womanhood she is facing an extreme post natal depression.
Struggling with depression ever since the birth of her twins Vivienne and Knox two months ago.
Struggling with depression ever since the birth of her twins Vivienne and Knox two months ago.
Financial Tremors
After the fall of the Lehman bother’s and Merrill Lynch selling to Bank of America.Today’s global economic scenario had made the people panic and to worry about their finances. There are very many reasons to believe that. Why this announcements are happening all of a sudden without giving any clue to any one.
Traditionally if you look into some of the steel industries in India which has faced some rough weather in late nineties early2000 this decade .It was known to every one that this Industry is in trouble or so and so company is in trouble. But no such lay off happened to a surprise.
Now the momemntum of this cascading effect of the economic turbulence in the US and global economy had a very great impact on Indian economy as well.Todays times of India expected lay off from India would be 25000 Jobs Excluding the job loss from the people who are working with Lehman brother ie 2500 employees’ announcing job cut of 25000 as a consolidation phase with EDS. As it would be a very serious hit for the BFSI segment. We dont know where the next bad news going to be.
The question unanswered here is working with company like Lehman brothers may be dream for an IIM graduate but these dreams are all burnt out all of sudden…How this happening all of sudden? Yesterday colleague of mine confirmed that 5000 employees have moved out from Lehman brother’s office at UK..
The exponential growth which had happened with the IT industry had projected a big expectation with the Indian youth not for looking for other option based on the salary and the lifestyle of the IT employees had lured many to this Industry. India has an out flow of around 100,000 engineering graduates every year .Now those dreams are???
Already companies have tightened their recruitment process .Out of 1000 only 4 people are getting selected in some of the job fairs organized. Though the respective governments are injecting some 240$billion in their economies.. Let we wait and see how this effect is going to be handled.
A revival will be expected after the US elections. Let we keep the fingers crossed and watch.
Traditionally if you look into some of the steel industries in India which has faced some rough weather in late nineties early2000 this decade .It was known to every one that this Industry is in trouble or so and so company is in trouble. But no such lay off happened to a surprise.
Now the momemntum of this cascading effect of the economic turbulence in the US and global economy had a very great impact on Indian economy as well.Todays times of India expected lay off from India would be 25000 Jobs Excluding the job loss from the people who are working with Lehman brother ie 2500 employees’ announcing job cut of 25000 as a consolidation phase with EDS. As it would be a very serious hit for the BFSI segment. We dont know where the next bad news going to be.
The question unanswered here is working with company like Lehman brothers may be dream for an IIM graduate but these dreams are all burnt out all of sudden…How this happening all of sudden? Yesterday colleague of mine confirmed that 5000 employees have moved out from Lehman brother’s office at UK..
The exponential growth which had happened with the IT industry had projected a big expectation with the Indian youth not for looking for other option based on the salary and the lifestyle of the IT employees had lured many to this Industry. India has an out flow of around 100,000 engineering graduates every year .Now those dreams are???
Already companies have tightened their recruitment process .Out of 1000 only 4 people are getting selected in some of the job fairs organized. Though the respective governments are injecting some 240$billion in their economies.. Let we wait and see how this effect is going to be handled.
A revival will be expected after the US elections. Let we keep the fingers crossed and watch.
Monday, 15 September 2008
US economy and Indian IT outsourcing Companies
As part of its appraisal process, Satyam identifies ``around 5 percent'' of its employees for ``performance improvement,'' the company said in a separate statement by e- mail. About half of them leave ``either voluntarily or involuntarily,'' Satyam said, adding the company had completed its latest appraisal a few weeks ago.
Tata Consultancy, India's biggest software services company, fell 5.9 percent to 762.8 rupees at the close; Infosys, the second-biggest, fell 4 percent to 1,578.15 rupees, and Wipro Ltd., the No. 3, fell 3.8 percent to 403.9 rupees.
Satyam declined 9.5 percent to 368.5 rupees at the close of Mumbai trading, the most since April 2003, to become the second- worst performer on the benchmark Sensitive Index, which fell 3.4 percent today. Satyam led a decline in technology stocks on concern that the deepening credit crisis in the U.S. will force clients to cut back on orders.
Satyam plans to Axe 4500 jobs.This translates to a little less than 9 per cent of the 51,000 employees that the company employs. Company sources say 1,500 employees have been put under the performance improvement plan (PIP), euphemism for employees put on watch list and asked to shape up or ship out.
Apart from this, 3,000 others have not been given any increment in the last appraisal cycle, thereby indicating that their services are dispensable.
"This 1,500 plus 3,000 equals 4,500, which indicates the total number of persons who could be eased out of the company," the source said.
On Friday, all employees received an email from the company chief Ramalinga Raju warning them, especially the ones on the bench, to not bunk office and be in their best dress code, failing which they may face strict disciplinary action.
Yeterday one of the leading equity banker Lehman bothers filing Bankruptcy and the the outright deal of Merill lucnh for 50$ billion with Bank of America the Wall street in to Jittery.This termor would have a serious impact with the oustsourcing scenerio and the survival of the Indian IT companies majorly.It is definitely sure the going will not be good.
The lay of 26000 employees of Lehman brothers and Merill Lycnch 60000 employees of Merill Lynch.The subprime crsis looming in the US economy for a period of more than 2 years and now the recent down fall of this world's leading investment bankers will put a strong road block to the outsourcing scenerio.
In the begining of this year one of the leading investment banker BSMA sold it stake JP morgan and the troubled scenerio of the major investment bankers had given a clear signal.There is a dent in the BFSI segment for this outsourcing companies.
Now the real trouble is for the major outsourcing companies Infosys,Wipro,TCS,Satyam and HCL.The biggest challenge is how they are going to manage the resources on this Slow down period.
Also the campus placement offers by these bankers to the IIM and IISB's are in a big question mark?.As 68% of the offers on the Campus recruits are from these investement bankers.
The slow down have started witnessing with the bad news from US and let we wait and watch how the real impact on the IT outsourcing companies in India.
Tata Consultancy, India's biggest software services company, fell 5.9 percent to 762.8 rupees at the close; Infosys, the second-biggest, fell 4 percent to 1,578.15 rupees, and Wipro Ltd., the No. 3, fell 3.8 percent to 403.9 rupees.
Satyam declined 9.5 percent to 368.5 rupees at the close of Mumbai trading, the most since April 2003, to become the second- worst performer on the benchmark Sensitive Index, which fell 3.4 percent today. Satyam led a decline in technology stocks on concern that the deepening credit crisis in the U.S. will force clients to cut back on orders.
Satyam plans to Axe 4500 jobs.This translates to a little less than 9 per cent of the 51,000 employees that the company employs. Company sources say 1,500 employees have been put under the performance improvement plan (PIP), euphemism for employees put on watch list and asked to shape up or ship out.
Apart from this, 3,000 others have not been given any increment in the last appraisal cycle, thereby indicating that their services are dispensable.
"This 1,500 plus 3,000 equals 4,500, which indicates the total number of persons who could be eased out of the company," the source said.
On Friday, all employees received an email from the company chief Ramalinga Raju warning them, especially the ones on the bench, to not bunk office and be in their best dress code, failing which they may face strict disciplinary action.
Yeterday one of the leading equity banker Lehman bothers filing Bankruptcy and the the outright deal of Merill lucnh for 50$ billion with Bank of America the Wall street in to Jittery.This termor would have a serious impact with the oustsourcing scenerio and the survival of the Indian IT companies majorly.It is definitely sure the going will not be good.
The lay of 26000 employees of Lehman brothers and Merill Lycnch 60000 employees of Merill Lynch.The subprime crsis looming in the US economy for a period of more than 2 years and now the recent down fall of this world's leading investment bankers will put a strong road block to the outsourcing scenerio.
In the begining of this year one of the leading investment banker BSMA sold it stake JP morgan and the troubled scenerio of the major investment bankers had given a clear signal.There is a dent in the BFSI segment for this outsourcing companies.
Now the real trouble is for the major outsourcing companies Infosys,Wipro,TCS,Satyam and HCL.The biggest challenge is how they are going to manage the resources on this Slow down period.
Also the campus placement offers by these bankers to the IIM and IISB's are in a big question mark?.As 68% of the offers on the Campus recruits are from these investement bankers.
The slow down have started witnessing with the bad news from US and let we wait and watch how the real impact on the IT outsourcing companies in India.
Thursday, 11 September 2008
Canon A-530,Service Experience GK Vale
GK vale famous for its digital photography and its services.No doubt in Bangalore they have aggressively branded their name and reputaion in the digital Photo prints.And Marketing for the digital cameras.
I have bought Canon A-530 camera from them an 2 years before .I didnt have any issue with the camera techinically I would have taken more than 1500 photo shots with this camera.But I have faced the common problem the every user of this digital camera faces the shutter door opening and closure problem.The digital camera front door wont open properely and get jammed in between.Though it was not affecting the functionality of the camera I didnt bother much.
Even in thent it has never been highlighted as a big issue.But then I thought of giving a try from GK vale and the response for Camera service.They have given me 2years +1 more year extended warranty for this model during my purchase time.
I have made a call to GK vale office at Koramangala where I have bought this Camera.A lady picked up the call and told me to come to the office.I have visited their office.When I told them that I have a problem the immediate response was for camera service you need to take it to malleshwaram and responded to me that as if they are not responsible.Then I have showed the bill and the extended warranty card then with the lot of hesitation he took the camera for service.He said it will take 15 days and above to get the camera get serviced .
I have made several calls to them but they are little linient but then replied me .I went to take back the camera the basic problem didnt get solved .It took nearly 2o days and then they kept with them .
After a few days I got a call from a guy from canaon asking what is the problem with the camera .I was surprised to hear such a call .I then explained to him.It took another 20 days.So finally with a lot of frustration I made a call to them after 10days.They said your camera was ready.I was checking the shutter problem it was ok.
At the end it took almost 55 days close to 2 months get it corrected for this small problem and I am not very happy with the attitude of the guys who are at front office and their response.
Every company will have some sense of arrogance once they are established with the brand.I think whether the owners of this studio are having that feeling or not but then some of their employees are there to Tarnish their big brand image what they have.
It is a bitter fact that is not with GK vale but every were.So be patient when you are going to GK vale for your camera repair next time.
I have bought Canon A-530 camera from them an 2 years before .I didnt have any issue with the camera techinically I would have taken more than 1500 photo shots with this camera.But I have faced the common problem the every user of this digital camera faces the shutter door opening and closure problem.The digital camera front door wont open properely and get jammed in between.Though it was not affecting the functionality of the camera I didnt bother much.
Even in thent it has never been highlighted as a big issue.But then I thought of giving a try from GK vale and the response for Camera service.They have given me 2years +1 more year extended warranty for this model during my purchase time.
I have made a call to GK vale office at Koramangala where I have bought this Camera.A lady picked up the call and told me to come to the office.I have visited their office.When I told them that I have a problem the immediate response was for camera service you need to take it to malleshwaram and responded to me that as if they are not responsible.Then I have showed the bill and the extended warranty card then with the lot of hesitation he took the camera for service.He said it will take 15 days and above to get the camera get serviced .
I have made several calls to them but they are little linient but then replied me .I went to take back the camera the basic problem didnt get solved .It took nearly 2o days and then they kept with them .
After a few days I got a call from a guy from canaon asking what is the problem with the camera .I was surprised to hear such a call .I then explained to him.It took another 20 days.So finally with a lot of frustration I made a call to them after 10days.They said your camera was ready.I was checking the shutter problem it was ok.
At the end it took almost 55 days close to 2 months get it corrected for this small problem and I am not very happy with the attitude of the guys who are at front office and their response.
Every company will have some sense of arrogance once they are established with the brand.I think whether the owners of this studio are having that feeling or not but then some of their employees are there to Tarnish their big brand image what they have.
It is a bitter fact that is not with GK vale but every were.So be patient when you are going to GK vale for your camera repair next time.
Thursday, 4 September 2008
Lifestyle-Greenage apartments Bangalore
Guys don’t think that I am promoting real estate in this blog.
The recent launch of the Greengage apartments coming in hosur road has made people to turn their eyebrows and have a look. The advertisement says that it is 21 acres of Land with 10 blocks and the number of floors of apartment from 18 to 21 floors. The number of units is 1672.
Besides that the amenities projected are Guest Room, Café,Badminton Court,Aerobics with music,Squash Court,Basket Ball Court,Party hall/Multi Purpose Hall,Theatre - 2 Screens,Outdoor Swimming Pool – 2 Nos,Gents & Ladies - Health Club, Sauna & Steam,Relaxation Room & Massage Area Indoor (hot water) temperature controlled ozonated swimming pool,Water jets & Fountain,Lawn Tennis – Multi court,Basketball Court,Open Amphitheatre,Exclusive Children's Park,Jogging track,Crèche,Convenience Stores,Day Care Clinic,Travel Desk,Reading Rooms,ATM,Gents & Ladies Beauty ParlourLaundromat,Media Centre,24 Hrs Power Backup,Innovative Landscaped Garden,Video Door Phone,Roller Skating Arena.
After seeing the advt the question araises where is 21 acres of Land at Hosur road.The massive development is happening adjacent to the flyover in the complete Hosur road area we would be surprised to know where is 21 acres of land for such an apartment?.Couldnt believe such a development except if you go and visit the site. This apartment may set some clear land mark to Hosur road area similar to the one Arihant foundation Chennai(an 18 storeyed building) near to koyambedu Busstand.
There are a few questions
1).The timescale projected for a period of 2 years means that in the middle of 2010.Could this project would be completed in the specific time line as the number of floors are very high and the current scenario of the real estate trend world wide?
2)These high raise apartments in Bangalore could able to tolerate earth quakes?Also whether the structural design had been taken care of in the building for the various seismic factors.?
3) There would be a lot of speculative interest on this project because of the development happening in that area .Now the quoted price is Rs3500/ sqft and many bookings will be to gain the benefit with the target appreciation of 5000-5500Rs Sq ft within 2 years.Whether this project going to attract only genuine buyers or speculators?
4)The facilities which they have advt like the helipad and theatres look attractive and I am not sure whether any other apartments in Bangalore have such features.
5)Whether this high raise apartment construction had all relevant approvals? Because people in the Sarjapura road area had a very bad experience with one of the developer again a high raise building deviating the BDA norms.
6)How about the water for1672 apartements.. Though they mention about the water treatment plants etc how it is going to be whether the ground water level supports for such high raise apartments? Already some of the big high raise apartments are in trouble for water.
Assuming the development happening in the past and the expanding infrastructure happaening in Bangalore.Hosur road would be an attractive destination next to North Bangalore. But I feel these type of high raise buildings cant be an imitation to Mumbai.Any how time has its own answers.
The recent launch of the Greengage apartments coming in hosur road has made people to turn their eyebrows and have a look. The advertisement says that it is 21 acres of Land with 10 blocks and the number of floors of apartment from 18 to 21 floors. The number of units is 1672.
Besides that the amenities projected are Guest Room, Café,Badminton Court,Aerobics with music,Squash Court,Basket Ball Court,Party hall/Multi Purpose Hall,Theatre - 2 Screens,Outdoor Swimming Pool – 2 Nos,Gents & Ladies - Health Club, Sauna & Steam,Relaxation Room & Massage Area Indoor (hot water) temperature controlled ozonated swimming pool,Water jets & Fountain,Lawn Tennis – Multi court,Basketball Court,Open Amphitheatre,Exclusive Children's Park,Jogging track,Crèche,Convenience Stores,Day Care Clinic,Travel Desk,Reading Rooms,ATM,Gents & Ladies Beauty ParlourLaundromat,Media Centre,24 Hrs Power Backup,Innovative Landscaped Garden,Video Door Phone,Roller Skating Arena.
After seeing the advt the question araises where is 21 acres of Land at Hosur road.The massive development is happening adjacent to the flyover in the complete Hosur road area we would be surprised to know where is 21 acres of land for such an apartment?.Couldnt believe such a development except if you go and visit the site. This apartment may set some clear land mark to Hosur road area similar to the one Arihant foundation Chennai(an 18 storeyed building) near to koyambedu Busstand.
There are a few questions
1).The timescale projected for a period of 2 years means that in the middle of 2010.Could this project would be completed in the specific time line as the number of floors are very high and the current scenario of the real estate trend world wide?
2)These high raise apartments in Bangalore could able to tolerate earth quakes?Also whether the structural design had been taken care of in the building for the various seismic factors.?
3) There would be a lot of speculative interest on this project because of the development happening in that area .Now the quoted price is Rs3500/ sqft and many bookings will be to gain the benefit with the target appreciation of 5000-5500Rs Sq ft within 2 years.Whether this project going to attract only genuine buyers or speculators?
4)The facilities which they have advt like the helipad and theatres look attractive and I am not sure whether any other apartments in Bangalore have such features.
5)Whether this high raise apartment construction had all relevant approvals? Because people in the Sarjapura road area had a very bad experience with one of the developer again a high raise building deviating the BDA norms.
6)How about the water for1672 apartements.. Though they mention about the water treatment plants etc how it is going to be whether the ground water level supports for such high raise apartments? Already some of the big high raise apartments are in trouble for water.
Assuming the development happening in the past and the expanding infrastructure happaening in Bangalore.Hosur road would be an attractive destination next to North Bangalore. But I feel these type of high raise buildings cant be an imitation to Mumbai.Any how time has its own answers.
Wednesday, 3 September 2008
Food for Thought -Pomegranate
We may be seeing the fruit on a day to day basis but never had a mind to think about such a Quality healing fruit avail
able to us on a day today basis. Pomegranate is having the high antioxidant content among all the fruits. Which had a primary tendency to eradicate the free radicals available in the body .In other words the free radicals are created by the body immune system in excess of this free radicals are harmful to body and the this fruit has a tendency to act like a scavenger to clean all the free radicals in the body. Next to dark chocolate the natural fruit have a high anti oxidant tendency.
Few facts about Pomegranate:
1.Pomegranates have already been associated with reducing the risk of heart disease and 
preventing prostate cancer.
2.Men who want to boost their performance in the bedroom should drink pomegranate juice, says a new research. According to the University of California scientists, a daily glass can act like Viagra.
3.Researchers had previously asserted that a daily 0.236 litre glass of the fruit’s juice not only increases the stability period of prostate cancer four-
fold, but that the effect is so marked that they believe it can also make it possible for men between the ages of 60 to 75 to live out a full life span without the need for medical treatment, rather than dying from the cancer.
4.They noted that consuming a glass of pomegranate juice everyday extended the doubling 
period to 54 months, and that there was also evidence that the juice was actually killing off prostate cancer cells.
5.Apart from eliminating the risk of heart disease it also eliminate the risk of Glaucoma an eye disease which come normally due to increase in the eye pressure level.
6.There are some research studies proves that the people who are drinking Pomegranate Juice continuously have 
found that there is a reduction in the Blood pressure values.
The pomegranate is the native from Iran to the Himalayas in northern India and was cultivated and naturalized over the whole Mediterranean region since ancient times. It is widely cultivated throughout India and the drier parts of southeast Asia, Malaya, the East Indies and tropical Africa. The tree was introduced into California by colonial Spanish settlers in 1769. In this country it is grown for its fruits mainly in the dry places of California and Arizona.
Today Pomegranate is cultivated through out the world now. It is available in all the departmental stores and supermarkets. Now a day you can see this fruits in all seasons now.
Tuesday, 2 September 2008
Finance-Creditcards
Few years ago I got my first Stand chart Credit card. Those days I haven’t realized the power of the plastic money.I use the card once in a while to purchase petrol ,Groceries and would happy paying the minimum dues.I haven’t realized that this is going to lead me to trouble.Without realizing the plastic money as a credit assuming that some one offering free money and more easily available it made more tendent to spend the money and increase my liability. I have been paying the minimum due regularly for many months..
But over a period of time I realized whatever the additional purchase I am making along with the old due they are charging the interest and my over due have never come down it was flat and I was paying only the intrest.It seldom continued for over 5 years .At a particular point of time a close buddy pointed out ..Then I really need to evaluate my self what I have been doing what I have to do..I have noticed I don’t have any control on the money which was outstanding was huge around 75k…Then I realized I need to do a sacrifice some amount of saving because if I allow this it will eat all of my savings one day…
I have to break some of my FD which I considered as saving and closed and came out of the credit rut…
But a few learnings
1)If we have a credit card need to use only we have visibility of funds flow for every purchase. Before buying a washing m/c if I have the visibility of funds to pay the money like processing the pending LTA or the expected pay from Variable pay or bonuses etc. Such planning will make you use the credit limits very wisely and your idle cash of 25k for 45 days will yield you some lowest interest also.
2)Never be tempted to use the money or the money which you have allocated to pay the credit card bill. Even if it is a lac of rupee it is not your money it is Banker’s money. There is a tendency many times for me it so happened when I made a purchase more than a Lac..I have more bank balance ie more than a Lac But I had a hesitation to pull that money for paying the credit card bills. That temptation should be avoided.
3)In addition if you purchase through credit cards the credit card companies may offer some promotional purchase like Cash back etc.You can get the real benefit when you maintain the credit with the strictest control and pay it on time.
4)You can get the benefits of reward points as good us getting some money back. Earlier credit card companies are offering 1 reward point for every 100Rs you spend. Now the major credit card companies are offering 1 reward point for every 200Rs Purchase.Neverthless, you wont be getting any benefits by spending your hard cash and also carry some risk for carrying your cash. Any way though I have spend so much amount of money by paying intrest .Now I am really getting the benefits of cash back and reward points and gifts etc.If I value that it will cross more than 20k.
5)If you are a moderate purchaser you could able to reap reward points of around 500-600points as good as 600Rs.
6)Need to have a control on your spend inline with your income flow first then you will have control on the credit cards as well.
7)If you are a prompt paymaster you never know the credit card companies beckons you to offer loans with the modest interest rates whereas it is not an easy for others. They will send several mailers to you to take loan without any salary slip or form 16 etc.. You will never know you have got a credit rating which bank has valued and ready to associate with you.
8)Your good track record will always be a record in CIBL(Credit information Bureau)and shared across the banks.
9)In today’s fast moving world emergency is uncertain for any body and need of money is so important .It is a kind of relationship you are building with a bank unknowingly but you will realise when you dial and ask for money in such circumstances. Even your closest friend may not help but the credit card associated banks can help in the form of a loan.
It would always be good to use cash and use our own money policy. It would give some pride and always portrays a self dependable rather than anyone. But the usage of credit card is an opportunity to show our credibility and credit worthiness with the credit companies and the banks we associated with and reaping benefit to us.
Warm Regards,
Mike.
But over a period of time I realized whatever the additional purchase I am making along with the old due they are charging the interest and my over due have never come down it was flat and I was paying only the intrest.It seldom continued for over 5 years .At a particular point of time a close buddy pointed out ..Then I really need to evaluate my self what I have been doing what I have to do..I have noticed I don’t have any control on the money which was outstanding was huge around 75k…Then I realized I need to do a sacrifice some amount of saving because if I allow this it will eat all of my savings one day…
I have to break some of my FD which I considered as saving and closed and came out of the credit rut…
But a few learnings
1)If we have a credit card need to use only we have visibility of funds flow for every purchase. Before buying a washing m/c if I have the visibility of funds to pay the money like processing the pending LTA or the expected pay from Variable pay or bonuses etc. Such planning will make you use the credit limits very wisely and your idle cash of 25k for 45 days will yield you some lowest interest also.
2)Never be tempted to use the money or the money which you have allocated to pay the credit card bill. Even if it is a lac of rupee it is not your money it is Banker’s money. There is a tendency many times for me it so happened when I made a purchase more than a Lac..I have more bank balance ie more than a Lac But I had a hesitation to pull that money for paying the credit card bills. That temptation should be avoided.
3)In addition if you purchase through credit cards the credit card companies may offer some promotional purchase like Cash back etc.You can get the real benefit when you maintain the credit with the strictest control and pay it on time.
4)You can get the benefits of reward points as good us getting some money back. Earlier credit card companies are offering 1 reward point for every 100Rs you spend. Now the major credit card companies are offering 1 reward point for every 200Rs Purchase.Neverthless, you wont be getting any benefits by spending your hard cash and also carry some risk for carrying your cash. Any way though I have spend so much amount of money by paying intrest .Now I am really getting the benefits of cash back and reward points and gifts etc.If I value that it will cross more than 20k.
5)If you are a moderate purchaser you could able to reap reward points of around 500-600points as good as 600Rs.
6)Need to have a control on your spend inline with your income flow first then you will have control on the credit cards as well.
7)If you are a prompt paymaster you never know the credit card companies beckons you to offer loans with the modest interest rates whereas it is not an easy for others. They will send several mailers to you to take loan without any salary slip or form 16 etc.. You will never know you have got a credit rating which bank has valued and ready to associate with you.
8)Your good track record will always be a record in CIBL(Credit information Bureau)and shared across the banks.
9)In today’s fast moving world emergency is uncertain for any body and need of money is so important .It is a kind of relationship you are building with a bank unknowingly but you will realise when you dial and ask for money in such circumstances. Even your closest friend may not help but the credit card associated banks can help in the form of a loan.
It would always be good to use cash and use our own money policy. It would give some pride and always portrays a self dependable rather than anyone. But the usage of credit card is an opportunity to show our credibility and credit worthiness with the credit companies and the banks we associated with and reaping benefit to us.
Warm Regards,
Mike.
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