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Now no prepayment charges on home loans
Dear friends rbi vide circular dated 5.6.2012 copy attached has advised all banks not to levy any prepayment charges on home loans with immediate effect. thanks
Two nuns........
there were two nuns... one of them was known as sister mathematical sm and the other one was known as sister logical sl. it is getting dark and they are still far away from the convent. sm: have you noticed that a man has been following us for the past thirtyeight and a half minutes? i wonder what he wants. sl: it s logical. he wants to rape us. sm: oh no at this rate he will reach us in 15 minutes at the most what can we do? sl: the only logical thing to do of course is to walk faster. sm: it s not working. sl: of course it s not working. the man did the only logical thing. he started to walk faster too. sm: so what shall we do? at this rate he will reach us in one minute. sl: the only logical thing we can do is split. you go that way and i ll go this way. he cannot follow us both. so the man decided to follow sister logical. sister mathematical arrives at the convent and is worried about what has happened to sister logical. then sister logical arrives. sm: sister logical thank god you are here tell me what happened sl: the only logical thing happened. the man couldn t follow us both so he followed me sm: yes yes but what happened then? sl: the only logical thing happened. i started to run as fast as i could and he started to run as fast as he could. sm: and? sl: the only logical thing happened. he reached me. sm: oh dear what did you do? sl: the only logical thing to do. i lifted my dress up. sm: oh sister what did the man do? sl: the only logical thing to do. he pulled down his pants. sm: oh no what happened then? sl: isn t it logical sister? a nun with her dress up can run faster than man with his pants down. :oops: :oops: :oops:
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Behaviour of a junior
Dear all want your suggestion on a typical situation : there is a team of marketing in a hierarchy from top to bottom like director national manager zonal heads sr. asm s asm s executive in this scenario we are referrng to a problem of north zone. zonal head north is doing a wonderful job topper of all zones sr. asm north one of the key performers in the team scenario if 100 is the turnover 40 is acheived by him rest 60 is the achievement of rest of the team behaviour too ambitious arrogant impatatient but self motivated does not take much support of the zonal head except for stragegising and one ot 2 meetings if required nobody likes him as a person except for his performance. now he fixes a meeting with a prospect without involving nationa head or zonal head straight approaches director to accompany him. director agrees and attends the meeting when comes enquires about certain points with national head who shows ignorance about the case saying will check with zonal head who in return gives similar reaction. the case taken up by national head with sr. asm why you didnot involve your senior in hierarchy answer recieved i wanted to close the deal without involving too many people. now how should the same be taken by zonal head in a scenario where people like him as well as find him to be dynamic. he is not considered as the senior by sr asm or he is trying to belittle him or he is trying to show he is the best. how he should be handled by zonal head so that it does not get repeated again.keeping in view his performance. thks for your time.
Deflation - the real risks to global economy
Deflation means a complete mental rethink and is beyond the understanding of most people today who were raised in inflationary times. the real question is an emotional one: how will ordinary people behave if they think prices are going to fall year on year for more than a very short period? what happens in deflation? when prices fall the value of cash rises. anyone with money has an advantage and those with debts lose. if i have a mortgage of 250000 this year and deflation runs at 5 a year it means in real terms my loan will double in size over 15 years. most worryingly in deflation my loan which was only 70 of the value of my home will become so huge that even if i sell my home i will be left with large debts. we have all seen deflation before in one key area: computers and digital technology where deflation has been eating away at price levels for three decades or more. but this is different. it is one thing to write off an investment in a computer system over three years but another to find that one of your greatest assets your own home is worth only a small fraction of what it was twenty years ago and that prices of every other asset you own are also expected to go on falling. of course if you have cash in hand the temptation is to spend nothing and invest in nothing. what is the point of buying when you know that in six months time the chances are you could buy more? so money gets left as cash under the bed or in a bank account if you are prepared to risk the bank going bust because so many loans were secured against assets now worth almost nothing. spending falls feeding a further frenzy of price cutting downward pressure on salaries bonus cutting and so on. but it is easier to pay people less and get away with it when they know they need less to live on this year than last year. interest rates fall to zero because no one in their right minds wants to borrow large amounts of an asset cash which is going to inflate with time. indeed the only asset for ordinary men and women that grows in value in a deflationary economy is cash and cash is what you find they hang on to. just look at japan which has experienced deflation for years with terrible consequences. how serious is the risk of deflation hitting other economies?
Loans given to employees
Dear all can you help me understand the loans which can be availed to the employees? what about the interest and deductions how it needs to be handled ? is there a miniumum wage limit needs to be enforced during the deduction of loan principle and interest ? kindly clarify regards sk.