Sunday, January 24, 2016
Wednesday, January 26, 2011
MicroFinance is all about....!!
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services.
More broadly, it is a movement whose object is "a world in which as many poor and near-poor households as possible have permanent access to an appropriate range of high quality financial services, including not just credit but also savings, insurance, and fund transfers." Those who promote microfinance generally believe that such access will help poor people out of poverty.
BOUNDARIES AND PRINCIPLES
Poor people borrow from informal moneylenders and save with informal collectors. They receive loans and grants from charities. They buy insurance from state-owned companies. They receive funds transfers through formal or informal remittance networks. It is not easy to distinguish microfinance from similar activities. It could be claimed that a government that orders state banks to open deposit accounts for poor consumers, or a moneylender that engages in usury, or a charity that runs a heifer pool are engaged in microfinance.
CURRENT SCALE OF MICROFINANCE OPERATIONS
No systematic effort to map the distribution of microfinance has yet been undertaken. A useful recent benchmark was established by an analysis of 'alternative financial institutions' in the developing world in 2004. The authors counted approximately 665 million client accounts at over 3,000 institutions that are serving people who are poorer than those served by the commercial banks. Of these accounts, 120 million were with institutions normally understood to practice microfinance. Reflecting the diverse historical roots of the movement, however, they also included postal savings banks (318 million accounts), state agricultural and development banks (172 million accounts), financial cooperatives and credit unions (35 million accounts) and specialized rural banks (19 million accounts).
OTHER CRITICISMS
Most criticisms of microfinance have actually been criticisms of microcredit, delivered in the absence of other microfinance services such as savings, remittances, payments and insurance.
For example, there has been much criticism of the high interest rates charged to borrowers. The real average portfolio yield cited by the sample of 704 microfinance institutions that voluntarily submitted reports to the MicroBanking Bulletin in 2006 was 22.3% annually. However, annual rates charged to clients are higher, as they also include local inflation and the bad debt expenses of the microfinance institution.[38] Muhammad Yunus has recently made much of this point, and in his latest book argues that microfinance institutions that charge more than 15% above their long-term operating costs should face penalties.
Milford Bateman, the author of Why Doesn't Microfinance Work?, argues that microcredit offers only an "illusion of poverty reduction".
To read & know completely(78KB) click here
More broadly, it is a movement whose object is "a world in which as many poor and near-poor households as possible have permanent access to an appropriate range of high quality financial services, including not just credit but also savings, insurance, and fund transfers." Those who promote microfinance generally believe that such access will help poor people out of poverty.
BOUNDARIES AND PRINCIPLES
Poor people borrow from informal moneylenders and save with informal collectors. They receive loans and grants from charities. They buy insurance from state-owned companies. They receive funds transfers through formal or informal remittance networks. It is not easy to distinguish microfinance from similar activities. It could be claimed that a government that orders state banks to open deposit accounts for poor consumers, or a moneylender that engages in usury, or a charity that runs a heifer pool are engaged in microfinance.
CURRENT SCALE OF MICROFINANCE OPERATIONS
No systematic effort to map the distribution of microfinance has yet been undertaken. A useful recent benchmark was established by an analysis of 'alternative financial institutions' in the developing world in 2004. The authors counted approximately 665 million client accounts at over 3,000 institutions that are serving people who are poorer than those served by the commercial banks. Of these accounts, 120 million were with institutions normally understood to practice microfinance. Reflecting the diverse historical roots of the movement, however, they also included postal savings banks (318 million accounts), state agricultural and development banks (172 million accounts), financial cooperatives and credit unions (35 million accounts) and specialized rural banks (19 million accounts).
OTHER CRITICISMS
Most criticisms of microfinance have actually been criticisms of microcredit, delivered in the absence of other microfinance services such as savings, remittances, payments and insurance.
For example, there has been much criticism of the high interest rates charged to borrowers. The real average portfolio yield cited by the sample of 704 microfinance institutions that voluntarily submitted reports to the MicroBanking Bulletin in 2006 was 22.3% annually. However, annual rates charged to clients are higher, as they also include local inflation and the bad debt expenses of the microfinance institution.[38] Muhammad Yunus has recently made much of this point, and in his latest book argues that microfinance institutions that charge more than 15% above their long-term operating costs should face penalties.
Milford Bateman, the author of Why Doesn't Microfinance Work?, argues that microcredit offers only an "illusion of poverty reduction".
To read & know completely(78KB) click here
Tuesday, January 25, 2011
The Secret of My Success......... Christopher Reeve
The Secret of My Success.........
Christopher Reeve
Acting role as Superman
"What is the secret of my success?" This is something we often hear from wealthy or famous people, usually in response to an interview question.
What follows is sometimes interesting, sometimes predictable. However, when the late Christopher Reeve discussed the secret of his success, he moved his audience to tears.
How do you define success?
In his excellent book: "Fast Food Nation", Eric Schlosser recalls going with a fast-food chain manager, and some of his employees, to an event entitled "success". It was a large-scale event with big-name speakers, all giving advice or encouragement for an eager audience. All seemed hungry for success and it's hardly surprising that the words "success" and "wealth" seemed almost synonymous.
Speaker after speaker addressed the audience. Each was making the link between money and success until finally, accompanied by the theme tune from the film "Chariots of Fire", actor Christopher Reeve was wheeled onto the stage. Despite his tragic physical condition, Reeve talked clearly, though with pauses to allow his respirator to work.
He thanked the audience for their welcome and began by explaining that he donates his speaking fees to groups that conduct spinal cord research. This set the tone for what was to follow....
The Secret of My Success......"None of it Matters"
Famous for his acting role as Superman, Christopher Reeve was critically injured by a riding accident in 1995. This accident left him fighting for life and permanently paralyzed. Reeve had often been asked: "what is the secret of my success", but tragically his answer was totally different now. Schlosser recounted that, in the midst of what had been a non-stop celebration of wealth-related success, Reeve hushed the crowd with some thoughtful words.......
Click here to read full (38.6KB): Download the pdf
Acting role as Superman
"What is the secret of my success?" This is something we often hear from wealthy or famous people, usually in response to an interview question.
What follows is sometimes interesting, sometimes predictable. However, when the late Christopher Reeve discussed the secret of his success, he moved his audience to tears.
How do you define success?
In his excellent book: "Fast Food Nation", Eric Schlosser recalls going with a fast-food chain manager, and some of his employees, to an event entitled "success". It was a large-scale event with big-name speakers, all giving advice or encouragement for an eager audience. All seemed hungry for success and it's hardly surprising that the words "success" and "wealth" seemed almost synonymous.
Speaker after speaker addressed the audience. Each was making the link between money and success until finally, accompanied by the theme tune from the film "Chariots of Fire", actor Christopher Reeve was wheeled onto the stage. Despite his tragic physical condition, Reeve talked clearly, though with pauses to allow his respirator to work.
He thanked the audience for their welcome and began by explaining that he donates his speaking fees to groups that conduct spinal cord research. This set the tone for what was to follow....
The Secret of My Success......"None of it Matters"
Famous for his acting role as Superman, Christopher Reeve was critically injured by a riding accident in 1995. This accident left him fighting for life and permanently paralyzed. Reeve had often been asked: "what is the secret of my success", but tragically his answer was totally different now. Schlosser recounted that, in the midst of what had been a non-stop celebration of wealth-related success, Reeve hushed the crowd with some thoughtful words.......
Click here to read full (38.6KB): Download the pdf
Friday, January 15, 2010
ASUS Launches P320 PDA Phone
Following the recent launch of the Lamborghini ZX1, ASUSTek Computer Incorporated (ASUS) Taiwan announced the launch of their P320 PDA phone in India, on June 24, 2008 .The ASUS P320 runs Microsoft Windows Mobile 6.1 Professional, which is an OS known for its reliability and user-friendly interface. The phone also features the company's proprietary ASUS Today interface for a better look and feel. Add to this the fact that the phone features GPS navigation with an inbuilt SiRF Star III chipset, EDGE/GPRS class10, Wi-Fi, Bluetooth 2.0, USB connectivity, 3G capabilities, and more, and all of it accessible easily thanks to its 2.4-inch screen.
What's really great though is the fact that the PDA phone incorporates every function you'd need or want, and does throws it all into a small, light and user-friendly package.
Edward Wang, Head Mobile Communications ASUS, said "India is growing as a big market for PDA's and Smartphone's, and that is the reason why the ASUS P320 is designed stylishly and is by far the smallest ASUS PDA—economically priced at Rs 12,900 so that more people can get to use a PDA. The future is smart phones"
As far as the future is concerned, Wang said that ASUS is very keen on equipping their PDA's with their second generation interface called ASUS Glide. Future plans also include its own chain of ASUS Experience stores, and dedicated service centres, which will be launched in the metros soon. ASUS is clear about sticking with Windows mobile for future products as well, so those looking for alternate OSes are out of luck.
What's really great though is the fact that the PDA phone incorporates every function you'd need or want, and does throws it all into a small, light and user-friendly package.
Edward Wang, Head Mobile Communications ASUS, said "India is growing as a big market for PDA's and Smartphone's, and that is the reason why the ASUS P320 is designed stylishly and is by far the smallest ASUS PDA—economically priced at Rs 12,900 so that more people can get to use a PDA. The future is smart phones"
As far as the future is concerned, Wang said that ASUS is very keen on equipping their PDA's with their second generation interface called ASUS Glide. Future plans also include its own chain of ASUS Experience stores, and dedicated service centres, which will be launched in the metros soon. ASUS is clear about sticking with Windows mobile for future products as well, so those looking for alternate OSes are out of luck.
James Cameron's Avatar: The Game
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Let me take a brief detour and skim through the premise of Avatar. After having discovered an alien world, the humans start aggressively mining the moon for a mineral called Unobtanium, which fetches a hefty price back home. However, Pandora has more than just deposits of minerals—the moon is lush with thick vegetation, sentient plants, animals and even sapient beings called the Na’vi.
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