Financial Services Reviews

mind control – these are is abilities often set aside for ascended keepers along with shamans. Thisis a misconception, however. Polished mind power is not a gift. It is a talent that can be developed with practice. Provided you recognize the most professional technique to attain it/p>

Keeping your mind sharp is just as crucial as keeping your body in good condition. Your entire body’s health will reflect on the swiftness of your mind, so knowing just a few very simple tips about how to keep your whole system in order will help you stay alert as well. Read on for a number of simple ways to help both body and mind fight back the ravaging effects of the aging process.

Reading is a fantastic way to work out your mind while enjoying a fantasy or learning new stuff. You want to read a variety of materials. This is so you keep the many areas of your brain operating. As an example, a book filled with stunning photos and information on lands far away will work both the visual and learning areas. To work out your brain’s language center, read a book printed in another language. Be sure to vary the books you read so you avoid becoming uninterested.

Doing sudoku, word searches, crosswords, and other puzzles and games will help keep your mind and memory razor-sharp. These activities meet a need for competitiveness, even if you’re in essence competing with yourself. Nonetheless, they can be fun and you can do them on your breaks. For example, keep a puzzle book and pencil in your restroom so that you can give your mind a quick workout while you’re in there.

Try participating in a sport when you have a very competitive nature. Team sports give you a great exercise for your body while the game itself can help you to build your brain power. Body-eye dexterity is going to also get a boost as you have fun on the field, track, court, or diamond. You can actually keep your body and mind in excellent shape when you do team sports.

Do you know cleaning is a fantastic way to exercise your brain? While you scrub the ceramic tiles, try counting them, or you can reorganize your kitchen. Whenever you clean, your body gets a physical workout and your brain gets busy attempting to keep track of what you’re doing. When you’ve got a nice and clean, organized household, it can positively affect your health and mind.

You’ll be able to spend time outside if you aren’t really into cleaning. As an example, you can start a garden. Gardening entails a great deal of planning and work, so you’ll be working out both your brain and body. Take gardening seriously. Develop a layout of your garden, plan what plants you’ll grow and what they need. You’ll want to take care of your garden often. All of this effort is going to pay off with great mental health!

We must be aware that we need to exercise our body and mind for us to be in good health overall. Living a long, happy and healthy life can be achieved with a bit of effort on your part as long as you take all the tips within this article into account. With these very simple suggestions, you can have a healthy body and a healthy mind, which ultimately translates to a sharp memory.

You have the fundamentals. Are you geared up to let loose the giant within you and exercise inescapable mind control

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After the Global Financial Crisis(GFC), a lot of people questioned their personal financial planning strategies. People often do this after a market downturn or correction, let alone after the biggest we have had in about 70 years. Anyone who has lived through other major downturns will know it will take a few years to recover investment losses. It is natural for people to wonder if their personal financial planning strategy is still the right way to go.

Is your strategy sound?

If a financial planner, as part of a comprehensive financial plan, recommended your investment strategy, then your strategy should be sound. The recommendations would have been made after he or she completed a fact find about your situation. This would have taken into account your investment time horizon and you investor profile. Your investor profile is determined by a series of questions to find out your tolerance to investment risk. In this case, investment risk refers to the exposure to short-term market fluctuations. The recommended investment portfolio would have reflected your risk tolerance by limiting your exposure to growth assets – shares and property – whose values do fluctuate with market movements.

How Long Should You Stick with an investment strategy?

You should stay with the original strategy for the length of the plan. If you have a ten-year plan then you stay with that. There is no doubt, staying with an investment strategy for the medium to long-term works best. The other alternative is to try to pick the market. This means, moving into a safe investment when the market drops and then moving back into the market when it goes up. The problem is most people cannot get the timing right – they are usually too late to get out before the market dropped or to get in before the market went up. Even the professionals have trouble picking the market. How many picked the global financial crisis?

Tough out the Tough times

The hardest part is to have faith in your original financial planning strategy when the market is moving against you. It is well to remember that is the nature of financial markets. Both the share market and the property markets have around 5 – 7 year cycles. Over the long-term, both these sectors make money. That is why your strategy would have been designed for a particular time frame, so that your portfolio could ride out those downturns. Generally, the only people who lose during market downturns are the ones who panic, sell the investments at a loss and put the money into a safe place. They are unlikely ever to get their money back. If you and your adviser worked together to form an investment strategy or if you did it yourself after doing your research, you should give the growth assets in your portfolio time to grow by staying with the origianl personal planning strategy.

http://egov.eletsonline.com/2013/10/enhancing-financial-inclusion-in-india/

Anurag Jain Joint Secretary, Department of Financial Services Ministry of Finance, Government of India

-Government has issued detailed strategy and guidelines on Financial Inclusion, advising banks to open branches in all habitations of 5,000 or more population in underbanked districts and 10,000 or more population in other districts,- says Anurag Jain. In Conversation with Nayana Singh.

Today Financial Inclusion is a key focus area for the Government of India. Tell us about the work that you are doing for promoting Financial Inclusion in the country? We need to develop policies and systems for proving basic financial services like insurance, banking and the related facilities to all sections of society. It is well known today that the expansion of the banking and insurance networks are being planned very aggressively. RBI and similarly IRDA have already come up with guidelines that enable certain kind of branches to be opened without any permission. In the ministries last budget speech, the Hon’ble Finance Minister had set a very aggressive target for opening up of new branch offices for banking and insurance verticals. Another major step that we have taken is to map the entire country into zones that are not being adequately serviced by the banking industry. In such areas, other systems, like the Banking Correspondents model, are being developed to provide banking related services. In 2006, RBI permitted banks to use the services of intermediaries for providing financial and banking services through the use of Business Facilitators (BFs) and Business Correspondents (BCs). Business Correspondents act as retail agents of the banks in providing banking services at locations other than a bank branch/ATM. BCs and the BC Agents (BCAs) represent the bank concerned and enable a bank to expand its outreach and offer limited range of banking services at low cost, particularly where setting up a brick and mortar branch is not viable. BCs as agents of the banks, thus, are an integral part of the business strategy for achieving greater financial inclusion.

Financial Inclusion

Banks play a key role in implementation of DBT and this involves four important steps: Opening of accounts of all beneficiaries Seeding of bank accounts with Aadhaar numbers and uploading on the NPCI mapper Undertaking funds transfer using the National Automated Clearing House – Aadhaar Payment Bridge System (NACH-APBS) Strengthening of banking infrastructure to enable beneficiary to withdraw money Financial Inclusion

What kind of impact are the initiatives taken by the Finance Ministry having in the rural areas? Please tell us about the challenges that you face in bringing Financial Inclusion in the country. The challenges will always be there, but we are working to bring improvements. It is only a matter of time before we are able to reach out to every corner of the country. The point is that if you look at from the point of viability, then it becomes obvious that the brick and mortar kind of branches will not be financially viable in the sparsely populated rural areas. Therefore we need to come up with innovative approaches like Ultra Small Branches (USBs) and the BC model. Opening a brick and mortar kind of branch, even if it is of minimum staff strength, will cost lot of money, so we have to rely on the USBs and the BCs. You see an USB can work very effectively with only one employee and an affiliated BC. Regional Rural Banks (RRBs) are also allowed to open branches in Tier 2 to Tier 6 centres (with population up to 99,999 as per Census 2001) without the need to take permission from the Reserve Bank in each case, subject to reporting, provided they fulfil certain conditions. The challenges that we face are being overcome by use of new technology. Today BCs can share data by using small hand held devices. This enables us to reduce cost, while providing timely services in remote areas.

The government has come up with the ambitious Direct Benefit Transfer (DBT) scheme. What kind of impact do you see DBT having on Financial Inclusion? DBT will definitely serve as an incentive for the people to open bank accounts. After all, there can’t be any DBT if people do not have bank accounts. In some places, where banking facility was not available, people had accounts in post offices or primary cooperative society. Now many of these institutions are not on CBS, so you can’t make transfer of funds. The postal departments are now having an aggressive programme for computerisation; once that happens they will be able to support DBT. Many cooperative banks are also developing the CBS platform. You see, the DBT will force players in the financial space to upgrade their technologies and that will be beneficial from the angle of financial inclusion as then these institutions will be able to deliver many more financial services.

What is the roadmap for implementing DBT in every government department? The DBT programme was rolled out on January 1 this year, beginning with 43 districts and expanding to 121 districts from July one. Transfer of LPG subsidy through DBT was rolled out from June 1 and now covers 20 districts. In LPG, over 2.8 million DBT transactions valued at `116 crore have taken place in seven weeks. The thing is that when people talk about DBT they usually mean Aadhaar linked transfers. Unfortunately in many districts Aadhaar is yet to be generated. The Direct Benefit Transfer for LPG (DBTL) scheme is currently under implementation. In this case the districts have been selected on basis of their success in enrolling the population for Aadhaar. The districts were the Aadhaar generation is highest have been taken up for DBTL. As of now this is working quite well. Once we have sizeable Aadhaar enrolment in all the districts, DBT will become the norm. The bulk of the work in DBT at the moment is in digitization of databases, re-engineering government processes for automating financial transactions, enrolling in Aadhaar and ensuring that every recipient has bank accounts seeded with Aadhaar.

ATMs have become very popular in the urban areas. Do you see the scope of using ATMs for improving access to financial services in rural areas? ATM can provide the 24X7 services, and so it is very important. In rural areas, we have issues about the timing of the bank branches. Normally the branches operate from 9 AM to 6 PM, but villagers normally want services early in the morning or late evening. It is also true that you can’t have bank branch everywhere. So ATMs are important as they will allow the citizens to access their funds in banks whenever they wish. The Finance Ministry has now asked state-run banks to expedite installing ATMs in rural areas.

Ministry of Finance has started the scheme to install White Label ATMs. What kind of progress is being made in that area? The banking space has seen considerable growth through the ATMs, (approximately 87000 ATMs at present) but the same has been restricted principally to the urban/metro areas. Last year, the Reserve Bank of India, had allowed corporates to set up white label ATMs to increase the penetration of ATMs in several areas of the country. Most ATMs, or machines that dispense cash, are owned by banks. But ones that are owned and operated by non-banking companies are called while-label ATMs (WLAs). They function just the same way as any other bank-run ATM. This scheme has picked up late. From Jan 2013 it is started so by Dec 2014 we should have 63000 WLAs in place.

In Kenya and few other countries of Africa mobile banking is a success story. But in India mobile banking is not picking up to a substantial extent. Why is that so? Efforts are being made to popularise mobile banking. Today most public sector banks have enabled mobile banking and it is matter of time before large number of consumers start recognising it as a good medium to meet their banking related needs. As far as policy front is concerned, all the regulations are in place, not it is only a question of taking the product to the consumer. In Africa, mobile banking is popular because it is the only channel for consumers who want to avail of banking facilities, whereas in India consumers have access to a range of facilities. Also the mobile banking charges need to come down. Another point is that even though today we have more than 70 crore mobile users, not everyone is using device with data connectivity. That too needs to change.

DBT Will Enable our Financial institutions to upgrade their technology

Over the last decade Public Sector Banks have made many commendable efforts to integrate IT into their operations. What else can be done to leverage ICT to improve the efficiency of the public sector and cooperative banks? Today it is difficult for us to imagine banking without IT technologies. Most of the banks have integrated operations with Core Banking Solutions (CBS) in place, and most of these platforms are capable of talking to each other. The same is the case with ATMs. The Department of Financial Services has worked to make PSBs become clones in terms of technology, standardisation of manpower recruitment, accounting practices. Cooperative banks are different; their operations are such that they cannot immediately go to the CBS platform. NABARD came up of a scheme to put the cooperative banks on CBS, but its execution will take time. One reason why cooperative banks find it difficult to achieve a 100 percent implementation of CBS is the remote locations of branches. This also makes it impractical to roll out technological solutions to all branches.

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Finance company focusing on the lending of cash to consumers, the purchasing of accounts receivable and the extension of credit to business. Write a living will in case you or your serious other become seriously wounded or die and unable to make financial calls.

Getting your name registered with a company without judging its accuracy might be threatening for your financial stability. Such cases where people have registered complain against the debt settlement firms as in spite of paying their liabilities, they found their prior liabilities to be unchanged .

The main trouble with debt is having too many separate units of debt scattered all over the place making finances complicated to control and manage. It can even become an issue remembering when all of the assorted payments have to be made each month.

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Once you have established where you are able to save money each month, use that cash to repay your arrears. Naturally you should be paying all your debts on time, even if it is just barely more than the minimum. Also, if you receive a bonus, dividend, or a pay rise, use all of that money to scale back your liabilities or pay off completely the debt with the highest rate of interest.

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Bahrain undoubtedly is the financial hub of the Middle East. It is also internationally known to be the most diversified economy in the Gulf region. Unlike other countries in the Gulf region that depend heavily on oil and gas production, in Bahrain, the contribution of this sector is merely 14% of GDP (2007). The most thriving sector in Bahrain currently is the financial sector. Thus, there is no dearth of banking jobs in Bahrain. These financial sector jobs have been increasing as the sector has seen ample growth over the past few years and Bahrain has become an attractive career destination for qualified expatriates in this field. Other than the financial sector, other booming sectors in the region include professional services, logistics, ICT, and manufacturing sectors.

Bahrain boasts of the highest and most transparent regulatory and supervisory standards in its financial sector and has thus become the most established financial hub which has attracted investors for businesses in this field. Despite being such a small country, it has attracted a lot of foreign investment in this region as it is the tried and tested ground for banking and insurance sector. In the region, there are more than 400 licensed financial institutions which contribute nearly 27% of GDP (2007). These institutions operate in banking, insurance and funds. Also, Bahrain is a hub for Islamic finance as the largest number of Islamic financial institutions is located in the region. Owing to these reasons banking jobs in Bahrain have become quite attractive to skilled professionals across the globe.

Bahrain banking jobs are very lucrative too. The prime reason for this is that it is a tax-free region. Thus, no taxes are levied on the compensation of an individual. This is a major puller for expatriates who throng the region to take up such jobs and make savings for a lifetime. These expatriates take up jobs on contractual basis and leave the country at the end of their term but by the time they leave, they save enough money to make the period of stay worthwhile. The quality and the standard of lifestyle offered in Bahrain are also world-class. Though one might find a huge difference in culture but with an open mind, one can enjoy the luxuries offered by the place. One has to be a little open-minded to settle well in the country and accept all the good that it has to offer.

To get a Bahrain banking job, one can apply through various mediums such as recruitment firms operating in the area, newspapers, job sites and also by directly applying to these banks that regularly advertise their vacancies on their websites. If going through a recruitment agency, it is always advisable to choose a certified agency because there are a lot of sham companies operating in this field who make unsuspecting job searchers a prey. Once short listed, the candidates have to go through a comprehensive selection procedure as the standards of selection in top financial companies are also very high. The employer becomes the sponsor of the expatriates who work in Bahrain. In your employment contract, there are other included benefits too. For instance, many employers offer housing, education for children and one annual free trip back home to employees. Considering these benefits, a banking job in Bahrain becomes a sought after one.

Despite the current economic downturn, Bahrains established status as the financial capital of the Middle East is ready to weather these tough times. The sector has seen a surging employment growth in Bahrain’s financial industry in the last few years. There is an emphasis on employing local Bahrainis as the countrys education system has evolved and is producing graduates ready to take up jobs. However, there is still a lot of demand for foreign workers. Prominent financial services companies operating in Bahrain include some big international names such as AIG, American Express, Bank of China, Citibank, European Islamic Bank, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Hanover Re, HSBC, Royal Bank of Scotland, JP Morgan, Lazard, Merrill Lynch, and Standard Chartered. The expansion of these firms in the region has ensured that more and more jobs are being created each year. Apart from banking, insurance and funds are the other two branches in the finance sector that are employing expatriates in large numbers.