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Try To Stay Away From Bad Debt And Bankruptcy

Bad debt is an amount, where business suffers loss and that loss is counted as an expense, as the amount can’t be recollect by the owner. If the debtor declares bankruptcy, problems like bad debt arise. Bad debt is also known by money; therefore it is counted in expense. To account for bad debts, there are two types. They are allowance method and direct write off method. In allowance method, there is a rough idea made at the end of the year for the account of bad debt. It is done, so that they can decrease receivable amount. Many companies make bad debt allowance, as all debtors may pay in full. Money which you cant collect is called as debtor. It mainly arises, if the service or product is given on credit. If customers makes delay payment and later refuses to pay, than its understood that its a bad debt. Bankruptcy means the business which is not able to pay debts.

The process of bankruptcy starts as the petition is filed on creditor’s behalf or by the debtor’s. To recover the debt portion, all assets of debtor is evaluated. As the process of bankruptcy completes, debtors get a sigh of relief. Not to do bankruptcy fraud, as it is a crime. Strategic bankruptcy is different from fraud bankruptcy and is not a criminal act, as it can work against filer. Bankruptcy can disclose all the assets of the debtor. If petition is filed for bankruptcy, creditors can decide debtors assets value. In 1874, India came up with individual bankruptcy law, but still couldn’t got law on corporate bankruptcy. In U.K bankruptcy law got changed, where if debtors facing bankruptcy has to give all occupational pensions. The origin of bankruptcy law came up first through England, but is now known more in U.S. Bankruptcy can sometime lead to death, as there is loads of tension on debtor’s head. Always try not to follow in such cases. You can gather more details regarding bad debts and bankruptcy by visiting various web sites and different sites.

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SBI to bring in green-channel banking

The State Bank of India is set to introduce green-channel banking to promote paperless work and reduce footfall of customers in the already over-burdened ATMs and branches. p>

SBI general manager for network-I D Mozumdar said here on Saturday that apart from regular counters, a new counter was being opened in which customers could swipe their ATM cards and enter the pin code to receive cash from the person manning the counter. “In this way, there will be no requirement for paperwork and the process of money withdrawal will be fast,” he said.

Under the financial inclusion scheme of the Reserve Bank of India, SBI has been asked to take up responsibilities in 43 of the 156 “under-banked” blocks of the state, besides extending banking facilities to 408 villages having a population of over 2,000 people. Mozumdar said SBI would connect 200 villages by March this year through different banking techniques. “We do not require brick and mortar branches these days to extend banking facilities because technology has made the work easier and SBI is fortunate to have all the modern banking technology,” he said.

All 200 villages where SBI is planning to launch services by March will be on technology platform that includes micro-ATM or mobile-based banking in which the customers having a mobile phone can access his or her account through the cell phone and bio-metric smart cards by which a user is identified on a hand-held machine through finger prints. Business correspondents appointed by bank will also disburse cash along with printed receipts and through kiosk-mode in which the bank provides a laptop with face-reading and voice-recognition software to enable transactions.

Sensorineural hearing loss, when hearing ability drop suddenly!

A sensorineural hearing loss is a disorder affecting the inner ear. When the neural pathways of the auditory cortex get damaged, there is a total loss of hearing ability. Hearing sensitivity or sound clarity reduces due to the damage. Hence, the nerves can’t send audio signals to the auditory processing area of the brain. It results in a total loss of hearing. Mostly, it occurs in one year. The loss of hearing can be accompanied by tinnitus (ringing sound in the ear) and dizziness.

It is one of the major types of hearing troubles worldwide. Though it occurs more in adults, there are cases when children also get affected by it. Sensorineural hearing loss treatment restores the ability of hearing in the majority of the cases.

Causes

A large percentage of sensorineural hearing loss occurs gradually. However, there are a few cases when the hearing ability deteriorates suddenly. Exposure to very loud noise, aging, hereditary aspects are also responsible for it. In some cases, heart troubles or diabetes is also found responsible for it. Other probable causes are bacterial or viral infection in the inner ear, growth of tumors, toxins, trauma or injury, and disorders of the nervous system. A lack of oxygen in the inner ear can also be a reason. Doctors diagnose the case thoroughly and decide about sensorineural hearing loss treatment.

Can it be prevented?

Since it happens primarily because of an exposure to loud noise, protective measures should be taken in such condition. Especially, people working in industries, mines or foundries should be cautious about it. Keep the blood sugar levels under control if you are diabetic. A healthy lifestyle, controlled diet, and regular exercise help in keeping the body fit.

Treatment of sensorineural hearing loss

It is a fact that sensorineural hearing loss treatment through medicines is not only difficult, but there are minimal chances of restoration of the hearing ability. However, it has been observed that the patients who undergo treatment within two to four weeks of diagnosis of the problem have a great chance of recovery. Systematic steroids are given to correct the problem.

There is no scope for surgical intervention and hearing aids are the best possible solutions. Rightly fitted hearing aids fill the sound gaps by stimulating audio nerves, and patients can hear the sound. Modern hearing aids work phenomenally for even a high-frequency hearing loss that was incurable a few years back. In some cases, doctors suggest cochlear implant for restoration of hearing capacity.

There are many hospitals for sensorineural hearing loss treatment in Bangalore and other parts of India, which can cost effective hearing treatments.

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Things To Know Before Getting Loan Against Securities In India

There are many types of loan available for your need. You can opt for loan against property, securities, shares, etc. in India. But you need to judge these loans and go through papers and agreement before opting one. But before opting for any type of loan, you need to compare the options and choose the best one that suits you.

Many times, people opt for personal loans from banks and financial institutes but remain unaware of other types of loans. One of these is loan against securities, shares, mutual funds and other financial instruments. In India, many banks, PSUs and other institutions offer these loans in the market. The rate of interest many vary from 12% to 15% depending on the lender.

The method to find out the best loan option is to find the reason and purpose for the loan, cost and time period of the loan amount and lastly mode of loan. Many experts feel that loan against securities and shares have its own advantages and disadvantages.

The interest on loan against security is charged only on utilization of limits sanctioned and only for the number of days it is utilized. This can be used for various reasons like buying a property, personal expenses, marriage, studies and other requirements. One of the cautions that people taking these loans should take not to invest it back to the market. This can be risky factor.

As per guidelines of Reserve Bank of India, a borrower can’t be given more than Rs. 20 lakhs against shares and equity mutual funds depending on value of security used for loan. Also, drawing power of a loan amount depend upon liquidity. For example, debt securities can grant you 80% drawing power.

One of the drawbacks that loan against securities has is market crash. Before borrowing the loan, you should be able to fund the loan account or you should have additional securities. Hence it is advised to borrow a loan amount depending on the ability to repay.

After borrowing the loan, if you want to revise the portfolio and upgrade it, the lender can grant your request depending on terms and conditions of the bank or lending institute.

Before borrowing the loan, you should know the financial instrument that you are using for loan. Banks and lending institutes has list of approved securities against which they offer loan. This may get revised regularly depending on lender and policy and rules in India. In general, almost all lenders offer loan against equity shares, mutual fund units (equity, debt, FMPs), government relief bonds, policies issued by LIC etc. You should check the list before you opt for this option.

If you are looking for short term loan, then loan against securities and shares is viable option provided that you check the amount utilized.

Dr. Akhilesh Das Gupta BSP Is An Outstanding Leader

Dr. Akhilesh Das Gupta BSP presently represents the Bahujan Samaj Party in the Rajya Sabha as the National General Secretary. He has been an integral part of the Indian political system for a long period of time. He entered into Indian politics as Mayor of Lucknow in the year 1993. He has since been striving, supporting and aiding for bringing about important changes in all aspects of economic as well as social life. He has been successfully leading various campaigns under his regime for social causes like civil rights, education, upliftment and empowerment of women, expansion of economic self reliance, building religious and ethnic amity, development of sports, industrialization etc. He was recognized as one of the youngest Mayors of the world. Dr. Gupta was elected as a Member of Parliament in November, 1996 and has since been re-elected for the period November, 2002 to November, 2008. He then joined the Bahujan Samaj Party as its National General Secretary. He was re-elected to Rajya Sabha in November 2008 for the third time consecutively. He has served as Minister of State in the Ministry of Steel; Govt. of India from 2006 to 2008.

All through these years, Dr. Akhilesh Das Gupta BSP has been working hard to make India a progressive nation by preserving its morals and ideals. He has held important political positions as a Member of Parliament both in the Lok Sabha and Rajya Sabha. He is the son of Late Banarasi Das,a freedom fighter who is widely recognized to have campaigned to obtain political independence. He was ex-chief minister of Uttar Pradesh and was instrumental in uplifting the map of the state by bringing and obtaining new dimensions of development and growth. Dr. Akhilesh Das Gupta has established himself as a worthy son of his illustrious father. Following his mentorship, Dr. Gupta has won people’s faith and love by supporting quality education and adopting democratic and economic agendas.

Recently, certain negative elements tried to float news about Dr. Akhilesh Das Gupta bank frauds but that was found to be baseless. Dr. Gupta is a living example of pride and honor. He has served as Ex-Chairman, UPCC Traders’ Cell in 1986-87; Ex-Joint Secretary, UPCC; Ex-General Secretary, UPCC; Ex-Secretary, Congress Parliamentary Party and Member, AICC. He has also been associated with National Level Apex Advisory and Statutory Bodies. He has been a member of All India Council for Technical Education (AICTE). He makes significant efforts towards development of economy by working for the welfare of the socially weaker sections of the society. His implementations in the arena of work and life have been magnificent.

Mint road milestones RBI at 75 editors, Bazil Shaikh, Ranjeeta Dubey, S.M. Khot

It is not the history of Reserve Bank of India (RBI), but a retrospective, a chronicle of events as they happened since its inception in 1935. An effort to relive the past, the book is written with a sense of nostalgia. And with a bit of pride as well. As the central bank of the country, RBI performs not only traditional banking functions, like monetary and currency managements — serving as a banker to the government and as a banker to banks, but also has played a pioneering role in diverse activities, specially in the area of rural finance, economic development, and financial inclusion.

The book — a part of the RBI’s Platinum Jubilee celebrations — is an attempt to put central banking in the context of socio-political developments of the day: both at home and around the world. It highlights how the Reserve Bank has pioneered many an experiment in the laboratory that was India; how it has always tried to dovetail banking and finance to subserve the developmental needs of the country; and how, with its activism and policy interventions, it has crafted schemes for the benefit of the poor and the less privileged. Being always at the forefront of moulding public policy and economic thought, the RBI’s story, in some ways, is the story of finance and banking. Today, when RBI — as India’s central bank — seeks to steer the country’s banking sector into a globalized world, it has not lost sight of the common man’s concerns. s.

Covering its wide-ranging activities: from international finance to regulation and supervision, from technology to development, the book chronicles central banking events as they unfolded in India during the last 75 years. Together with visuals and vignettes, Mint Road Milestones: RBI 75 not only offers glimpses of the Bank’s eventful past and the road it has traversed, but also brings alive the spirit of one of the oldest central banks of the developing world.

Exploring Top 10 Business Sectors In India

The Indian economy is one of the fastest growing economies in the world and this is evident from the increase in b2b business space India shares with the world. Apart from the big business houses, the real contributors towards the economic growth are the small and middle sized enterprises belonging to different industries.

To learn about different business sectors of India, there is no better place than a b2b
business directory, where these businesses open their doors for the world. Considering the popularity and growth rate of businesses, here is a list of the top 10 business sectors of India.

Foods and Beverages
The foods and beverage industry of India has gained popularity in the past 3-4 years, mainly due to the changing lifestyle and eating habits of the people. Most of the segments have recorded an increase in revenue from 2005 to 2009, the alcohol segment being on the top. A growth rate of 7.5 percent is expected between 2009 and 2013 to make it a 330 billion dollar industry by 2013.

IT Industry
The information technology business sector of India is expected to increase by 14.1 percent from 2009 to 2010. The expert analysis predicts the industry to become 67 billion dollar industry in 2010 and to increase by 11 percent by the year 2013. IT services, software as well as hardware segments are making great contributions towards the growth rate of IT industry as a b2b business.

Health Industry
Due to a huge different in the healthcare costs in India and the western countries, the health industry of the country is experiencing a growth in terms of business. The analysis shows that the current 35 billion dollar industry is going to touch the figure of 75 billion dollars in 2012 and 150 billion dollar by the year 2017.

Telecom Industry
The growth of telecommunication business sector in India can be easily termed as a revolution. The country enjoys the second rank as the telecom network provider. The rise of 3G services and mobile telephony has also contributed significantly towards the growth rate in the sector. The mobile subscribers in the country are expected to grow by 11 percent from 2010 to 2014.

Textile Industry
Textile industry of India is a globally reputed b2b business sector. The total textile exports from India contribute towards 27 percent of the total foreign exchange. Cotton, silk, jute, woolen, hand-crafted and readymade textiles are the main segments one can find in a global Indian b2b business directory.

Auto Industry
The Indian auto component industry has been growing with a consistent growth rate of about 20 percent since 2000 and the rate is expected to remain consistent till 2015. Engine parts, drive transmission ad steering parts, suspension and braking parts and electrical parts are main contributors towards the growth of this global b2b business sector.

Construction Industry
Accounting towards 11 percent of Indias total GDP, the construction industry is an exporter of various raw materials to the world. For example, China is the biggest consumer of steel exported by India. Besides, the cement industry is a significant contributor in this category.

Handicrafts
Indian handicrafts enjoy a great demand in the foreign markets like those of USA, UK and Australia. Wooden handicrafts, jewelry, hand printed textiles and crocheted goods are some of the main segments that bring foreign exchange of the worth of 3 billion dollar to the country.

Energy
Both renewable and non-renewable energy sources have contributed towards the growth rate of energy sector of India. Natural gas, LPG and solar energy are the segments that have been consistently growing.

Banking and Insurance
Investment banking, credit cards, mortgage and insurance products are the segments that contribute towards the growth of banking and insurance sector of India. For example, the number of debit cards increased by 40 percent from 2006 and 2009.

To find the companies showing growth in the above-mentioned business sectors, you can refer to a b2b business directory. Apart from them, there are many other industrial sectors growing in the domestic as well as global markets.

Prospective Jobs Through Lic, Karnataka And Kotak Mahindra Bank Recruitment 2013

They might go for the banking sector or the railways, or any other place and they apply for the different positions advertised, according to their educational qualifications and eligibility criteria. In India, banking sector jobs are in high demand and are pursued by many people. it has been seen in the past few years that the students are seeking the government jobs and banks are a favourite choice among these. Also, there are plenty of applicants for the posts which are advertised by the Life Insurance Corporation of India or LIC.

Private banks have give a new lease of life to the banking industry in India. Not only are they provide a wide range of banking facilities to the customers, they are also having plenty of vacancies for the jobs aspirants. Karnataka Bank and Kotak Mahindra Bank in India have been offering a variety of jobs for the interested candidates. People are choosing these jobs because of three important reasons.

Karnataka bank as prospective employer

Jobs in banks, especially in the private sector, are found in plenty. There are branches all over the country, offering financial solutions to the customers. It is in these banks that there is a need of skilled and enthusiastic people to work for the benefit of the customers. Due to expansion of the branches and offering of better services, banking personnel are being recruited. Karnataka Bank, which had a strong presence in the state of Karnataka, now is planning on expanding to the other states in India. Karnataka bank recruitment 2013 would be done for a variety of posts such as sales manager, relationship manager, and other posts. Since there are varieties of activities related to banking transactions, life insurance, mutual funds, private equity, realty fund, investment banking, etc.

Kotak Mahindra for offers

Kotak Mahindra Bank recruitment 2013 is also in the pipeline for various posts. This is one of the largest private sector banks in the country, which has a strong presence in banking sector. People, who are interested for the private banks, will have to be alert and check internet portals and the official site of Kotak Mahindra Bank to know about these offers in proper time. They will then be called for interviews or written rounds before being finally recruited into the different posts as advertised and the different branches. In these private banks, the pay scale is quite good but the icing on the cake is the rapid promotion which people can avail, by working with dedication and handling their jobs efficiently.

Job offers in LIC

Life Insurance Corporation is the leading government organisation dealing with insurance products and it has a large number of customers. There are plenty of branches of LIC in various cities all over the country. Some of the job offers are development officers, service executive assistants, AAI, and so on. Due to the sheer number of branches and the need for skilled workers in these areas, people will be able to get lots of job offers in the LIC recruitment 2013.

Many prospective job offers are out there for grabbing by people. But the important thing is to have the right qualification and know about the publication of these offers, whenever these are advertised. People should be ready with adequate preparations and should submit their applications in time for being considered for the interview and other screening rounds.

Career in Accounting

Making a successful career in his life is the ultimate aim of a student. From the starting of his education, a student starts planning about his career goals and aims he need to achieve. Medical, engineering, doctors, scientists, biotechnologists, etc are the careers which one can opt for post completing his studies in the science field. After science, be it medical or non- medical, commerce is the field which attracts students. Many students have been seen opting for career in accounting or commerce after passing their secondary school examinations.

Career in accounting or finance becomes the goal for the student’s pursuing studies in the field of sciences. The different fields to which the commerce subject is divided are: 1.)Accounting. 2.)Banking. 3.)Finance. 4.)Computers. 5.)Business studies. 6.)Economics.

After completing his senior secondary education, commerce students mainly opt for business management, computers or accountancy courses as their graduation subjects. The most popular course which has become the career goal for almost every commerce students these days is career in accountancy. Accounting Job involves the responsibility of maintaining the accounts of the organisation, analysing it and further adding on to the economic development of the company.

The three different fields or courses available in the field of accountancy are:

1.)CA- Charted Accountancy 2.)ICWAI- Cost Accountancy 3.)CS- Company Secretary

All these courses are provided by special institutes and have their individual regulatory bodies, governing the course structure and further career developments in the respective fields.

Charted Accountancy: Charted accountant is the person responsible for few of the most important functions required to run a smooth functioning of the organisation in term of its monetary funds and finances like accountancy, auditing, taxation, etc. The Institute of Charted Accountants of India (ICAI) is the organisation responsible for the regulation of charted accountancy profession in India. The students for becoming a member of this institute, has to go through a series of examinations, appearing before which, he has to register himself with the statutory body of ICAI. There are three levels of CA examination, i.e. CPT- Common Proficiency Test, PCC- Professional Competence Course, and then is the final exam, which has to be cleared, after which the student becomes a members a member of ICAI and can practise his profession in charted accountancy. The minimum time required to do this entire course is 3.5 to 4 years, which is in very rare cases, because the examination is very tough and it consumes years to pass one level.

Cost Accountancy: In this field the person responsible, is required to manage the cost related functions of the company in an organised way, he needs to collect, analyse and assemble all the cost related departments. He also needs to check, the utilisation of the funds is done in the right manner and in the productive direction. The institute responsible for application of the job responsibilities of cost accountancy in the country is The institute of Cost and Works Accountants of India. For taking admission in this course, students needs to clear three levels of examination, conducted by ICWAI, and registration for examination can be done after passing the senior secondary exam. The students having passed out all the three levels of ICWAI exam, other than working as cost accountant in public and private organisations, can also opt for working as a consultant in the field of finance management.

Company Secretary: This is another field which can be opted by the accounts or commerce students after passing their 12th exams. It is regulated by the Institute of Company Secretaries of India, which takes examination of the students applying for the course of CS, there are three levels for the same, after which the student can apply for CS in different companies and industries. As the name suggests, the job is not of a clerical or secretarial job, the CS is responsible for all the legal, board, trustee, managerial and corporate level decisions are taken with reference to the Company Secretary.

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Existing Customers Targets For Second Home Loans Sbi

Even as it chases new customers, State Bank of India has set its sights on offering existing customers second home loans to grow its retail portfolio.

Increase in disposable income as a result of substantial jump in the pay of employees working in the Government (Central and States), public sector enterprises, banks and private sector firms has prompted the bank to woo existing customers with good track record with an offer of a second home loan. The bank is also encouraging its employees to take a second home loan.

India’s largest lender wants to take advantage of the emerging trend whereby people own their first home by the age of 25 and second by 35. The second home is for investment purposes.

Currently, 96 per cent of SBI home loan borrowers are first-time borrowers.

Capacity to pay

We know that customers’ income is rising. Hence, we look at their Equated Monthly Instalment to Net Monthly Income ratio. If the higher income is sufficient to cover the second home loan, we would make the offer without any hesitation. We don’t look at the value of the property, but the customers’ capacity to repay his/her loan, said a senior official.

This year, SBI is eyeing a 32 per cent year-on-year growth in its home loan portfolio. It plans to disburse Rs 22,000 cr (Rs 17,130 cr in FY2010).

In the first two months of the current financial year, the home loan portfolio has grown by around Rs 2,800 cr, from Rs 71,193 cr as on March 31, 2010 to around Rs 74,000 cr.

Besides sourcing customers, sanctioning and disbursing loans, SBI is laying thrust on follow-up with customers in cases where they fall behind on their mortgage payments.

Elastic Recovery

The bank has roped in SBI credit card which has expertise in soft recovery. The follow-up involves contacting customers on telephone, reminding them about the delay in payment, and reverting to the bank with their response.

The bank is also strengthening the capacity of its 116 retail loan processing centres so that they can process loan application faster.