Saturday, August 14, 2010

'I just want to live like a TV': Please Pay attention

From T h e     V e d a n t a     K e s a r i 
J U L Y     2 0 1 0  


One day a teacher of a primary school asked her students to write an essay about what they would like God to do for them. Later in the evening while going through those essays at home, she came across one that moved her much. Her husband, who just walked in, enquired: 'What happened?' Handing over a sheet of paper, she answered,
'Read this. It's an essay by one of my students.' The husband read the following essay, titled, 'I just want to live like a TV':
Oh God, tonight I ask you something very special: Make me into a television. I want to take its place. I want to live like the TV in my house.
Have my own special place and have my family around ME. To be taken seriously when I talk . . .
I want to be the centre of attention and be heard without interruptions or questions.
I want to receive the same special care that the TV receives even when it is not working. Have the company of my dad when he arrives home from work, even when he is tired. And I want my mom to want me when she is sad and upset, instead of ignoring me... And . . . I want my brothers to fight to be with me . . .
I want to feel that family leaves everything aside, every now and then, just to spend some
time with me.
And last, but not the least, make it that I can make them all happy and entertain them. Lord I don't ask you for much . . . I just want to live like a TV.'
Having finished reading the essay, the husband gravely remarked: ‘My God, poor kid.
What horrible parents!’ Tears rolling down her cheek, she looked up at him and calmly said: ‘That essay is written by our son!!’                                          —Cyberspace

Militants 'sneak' into Shillong, alert sounded


Published: Friday, Aug 13, 2010, 21:32 IST | Updated: Friday, Aug 13, 2010, 21:34 IST 
Place: Shillong | Agency: PTIThe police are on high alert following information that a group of militants of the banned Hynniewtrep National Liberation Council (HNLC) have sneaked into Meghalaya to carry out subversive acts.
State home minister HDR Lyngdoh said that the police have specific inputs about the intrusion of some militants into the capital city from Bangladesh.
"They are planning to strike at crowded places. But the police are on high alert. All precautionary measures have been taken to thwart any subversive attempt," Lyngdoh said.
A massive security blanket has been spread across the state, particularly in the capital city, while the BSF has launched Operation Bharosa along the international border to prevent ingress of militants.
"We have intensified patrolling and are presently conducting combing operations in the outskirts of Shillong and other places where we feel the so-called HNLC cadres may take refuge," East Khasi Hills SP AR Mawthoh had said yesterday.
BSF sources said extra forces have been moved to the international border to strengthen vigil.

Mahesh Bhatt, Kuldip Nayar to light peace candles at Wagah

From ThaiIndian.com

Sat Aug 14 2010 11:50:08 GMT+0530 (India Standard Time) by IANS

More at : Mahesh Bhatt, Kuldip Nayar to light peace candles at Wagah http://www.thaindian.com/newsportal/south-asia/mahesh-bhatt-kuldip-nayar-to-light-peace-candles-at-wagah_100412042.html#ixzz0waWDISqcChandigarh, Aug 14 (IANS) Bollwood film producer Mahesh Bhatt, noted journalist-writer Kuldeep Nayar and many social activists will light peace candles at the Attari-Wagah border and exchange sweets with people from the Pakistani side Saturday night. The Border Security Force (BSF) has made elaborate security arrangements at the border post, an official said.
The BSF said it will beef up security at the Attari-Wagah joint land border checkpost between India and Pakistan to ensure smooth Independence Day celebrations there Saturday midnight.
“We have made fool-proof security arrangements and also increased the patrolling in the wake of Independence Day celebrations,” BSF Deputy Inspector General (intelligence) and official spokesperson Pankaj told IANS.
“Prominent personalities like Mahesh Bhatt and Kuldeep Nayar will go the border at around 11.45 p.m. We expect 40-50 people to accompany them,” he said.
“They will light candles on the border, exchange sweets and words with people, who will come on the other side of the border. Today (Saturday) is Pakistan’s independence day so the Pakistani Rangers have also sent sweets for us,” he said.
Mahesh Bhatt and Kuldeep Nayar have been lighting peace candles at the border on every Independence Day for the last few years.
The BSF guards the nearly 553-km long fenced international border in Punjab.

Friday, August 13, 2010

India to Test Agni II Missile Next Month

From army-technology.com
13 August 2010

India's new nuclear missile, the Agni II, will be tested in September from Wheeler Island, off the Orissa coast in India.
The Defence Research and Development Organisation (DRDO)-developed Agni II has two stages, powered by solid propellants.
The missile is capable of carrying nuclear warheads, which are protected from intense heat when the missile re-enters the atmosphere using re-entry technology developed by the DRDO.
The speed of the missile ranges between 2,750km and 3,000km and fills the gap between the Agni II (2,500km) and Agni III (3,500 km) missiles.
Agni I is a single-stage missile that can hit enemy targets from a distance of 700km.

Mistakes at workplace? How to correct and move on

From The Economic Times
TNN 

Experts say that the trouble is in not making mistakes, but in not accepting them and knowing how to deal with them. In a professional setting, people are more focused on covering up their mistakes so as to protect their jobs. 

HR, however , plays a major part in the kind of attitude that an employee adopts in the acceptance of his/her mistake and how they go about working on correcting it so that the employee can learn and move ahead. 

“HR can motivate employees by creating an environment that reinforces confidence, trust and satisfaction ; if this is prevalent in the work culture , it is observed that the employees are not afraid to accept their mistakes. The work culture should inspire self-assurance in the employees. To let them know that even if they make mistakes they will not be penalised and infact, will be helped towards not making such an error is vital,” says Ruth Singh, head – HR, Emkay Global Financial Services Ltd.

Forgetting and letting go off mistakes becomes problematic

When you are working in a professional setting, forgetting and letting go off mistakes becomes problematic, which in turn, also leads to employee engagement problems. 

“The environment in the office should be relaxed so that an employee feels safe. Only in such an environment can he/she own up their mistakes to their immediate supervisor or any other supervisor in that case. They should be able to share a relationship with the supervisor based on trust and faith, so that they can admit the mistake without any fear in their minds. HR in an organisation should understand that a relaxed environment makes a person feel more comfortable and gives them a sense of belonging towards the organisation,” says Poonam Singh, HR manager, Neev Group of Companies .
 

Leadership and communication skills play a major role
 For an HR manager, it is always a tricky situation as to the amount of freedom they can afford to give to the employee to make a mistake. It becomes a dual task to ensure employee satisfaction and also keep in mind the organisation’s goal structure, so as not to let the employee make a mistake big enough to interrupt with the same. 

“It is the onus of the HR department of an organisation to foster a culture whereby employees not only confess their mistakes, but also take lessons from them. Leadership and communication skills play a major role here. Those in the leading positions need to be trained to handle such tricky situations. When a subordinate opens up to his/her senior, in a quest to confess a mistake, the senior needs to determine the future actions and behaviour of the employee. Appreciation for owning up the mistake should be followed by encouraging the employee to think how such a situation can be avoided in the future,” says Ruth Singh.

It is important to realise and leave room for mistakes

Considering the high-pressure jobs that most people have, it is important to realise and leave room for mistakes, a buffer of sorts. This will help in increasing the productivity per employee and in turn, make the investment in human resources maintenance lesser for the organisation. 

“HR can make necessary efforts from their side to bridge the distance between the supervisor and subordinates. They can arrange meetings , training and workshops as an effort to dissolve the distance between the two. Mistakes are our teachers and accepting them and learning from them help us to progress in life,” concludes Poonam Singh.


Border Security Force personnel rehearse for Independence Day parade

(BSF) Border Security force  personnel participate in a rehearsal for an Independence Day parade at Bakshi stadium in Srinagar on August 13, 2010.
(BSF) Border Security force personnel participate in a rehearsal for an Independence Day parade at Bakshi stadium in Srinagar on August 13, 2010.
added: 2010-08-13 07:40:54.64
(BSF) Border Security force personnel participate in a rehearsal for an Independence Day parade at Bakshi stadium in Srinagar on August 13, 2010.

From World News






Northeast under high alert, night trains cancelled

Deccan ChronicleFriday August 13, 2010

A high security alert was sounded on Friday across the northeast ahead of the Independence Day, and authorities cancelled all night trains through Assam in view of militants' threats to blow up vital installations and railway tracks.
"A state of high alert was sounded across Assam with security forces deployed in strength following intelligence inputs of militants planning violent strikes ahead of August 15 to make their presence felt," officiating Assam Chief Minister, Mr Bhumidhar Barman, told IANS.
The Northeast frontier railway announced cancellation of all night trains through Assam from Saturday evening until August 17, citing security reasons.
"We have decided to cancel 26 long-distance trains running in Assam at night and suspend or terminate 26 more in view of the Independence Day," NEF Railway spokesperson, Mr S. Hajong, told IANS.
The restrictions would come into effect from 6 pm on Saturday and remain in force till 5 am of August 17.
"The cancellation of night trains in Assam follows intelligence inputs of militant groups planning to blow up rail tracks or passenger trains as a show of strength ahead of August 15," a senior Assam Police official said.
Five guerrilla groups in India's northeast called a 17-hour general strike on Sunday to boycott Independence Day celebrations.
These militant groups include the United Liberation Front of Asom (ULFA), the National Democratic Front of Bodoland (NDFB), the Kamatapur Liberation Organisation (KLO), fighting for a separate homeland comprising parts of Assam and West Bengal, the Manipur People's Liberation Front (MPLF) — an umbrella group of several Manipuri rebel groups, and the Tripura People's Democratic Front (TPDF).
These groups are active in Assam, Manipur and Tripura. As part of their boycott call August 15, the militant groups have called for a general strike from 1.30 am to 6.30 pm on Sunday.
Militant groups in the northeast have for years boycotted national events to protest New Delhi's rule over the region.
Meanwhile, security forces have been put on maximum alert across the region to thwart possible rebel strikes.
"The Border Security Force (BSF) has been put on maximum alert across the Bangladesh border. Additional paramilitary troopers and state security personnel have been deployed in sensitive and important locations to thwart possible strikes by extremists," a BSF spokesman told IANS.
Paramilitary personnel, accompanied by bomb disposal quads and dog squads, launched search operations at airports, hotels, bus terminals, major markets and national highways, Tripura police spokesman Nepal Das said.
 

नव आरक्षक बीएसएफ में शामिल

शुक्रवार,13 अगस्त, 2010 को 04:49 तक के समाचार

जोधपुर. आतंकवादियों से लड़ने और हर परिस्थिति से निपटने की शपथ लेकर जोधपुर स्थित बीएसएफ ट्रेनिंग सेंटर में प्रशिक्षण हासिल करने वाले 143 नव आरक्षक गुरुवार को बीएसएफ में शामिल हो गए। दीक्षांत समारोह में बीएसएफ के स्पेशल डीजी आरके मेडेरकर ने उन्हें निष्ठा की शपथ दिलाई।

उन्होंने कहा कि बीएसएफ बेड़े में शामिल होने के साथ ही नव आरक्षकों को विषम परिस्थितियों में देश की सीमाओं की रक्षा और आंतरिक सुरक्षा व नक्सलवाद जैसी अनेक चुनौतियों का सामना करना पड़ेगा। उन्होंने उम्मीद जताई कि नव आरक्षक हर मानदंड पर खरे उतरेंगे। डीजी ने कहा कि देश के उत्तर-पूर्वी राज्यों, जम्मू-कश्मीर, झारखंड व छत्तीसगढ़ में नक्सलवाद, उग्रवाद और अलगाववाद विकास के रास्ते में बाधक बने हुए हैं।

उन्होंने विश्वास जताया कि नव आरक्षक हर परिस्थति से बखूबी निपटेंगे और मानवीय मूल्यों की रक्षा करेंगे। इस अवसर पर शानदार परेड का आयोजन किया गया। डीजी मेडेरकर ने परेड का निरीक्षण करने के बाद सलामी ली। सहायक प्रशिक्षण केंद्र बीएसएफ के डीआईजी संपतसिंह जोधा ने ट्रेनिंग सेंटर की गतिविधियों की जानकारी दी तथा आभार व्यक्त किया। परेड के बाद टैटू शो का भी आयोजन किया गया। इस अवसर पर बीएसएफ के आईजी केएल मीणा, डीआईजी आरसी ध्यानी सहित बीएसएफ के सभी अधिकारी मौजूद थे।

Thursday, August 12, 2010

Are Mutual Funds Safe?

From Outlook Money


Although they come without any explicit guarantee of capital protection, mutual funds can give the investor peace of mind

Every investor wants to protect his capital and aims for a reasonable return on his investments. The question, then, is: do mutual funds (MFs) meet these criteria? Being subject to market risks, MFs do not guarantee capital preservation. However, there are plenty of safeguards built into the system to protect the interests of investors and their money. Let’s take a look at some such features.

The Safeguards
Structural Safeguards. The capital market regulator, Securities and Exchange Board of India (Sebi), which regulates MFs, is a critical entity in protecting investor interest, be it by drafting regulations or monitoring their implementation. It has laid down guidelines for all constituents of an MF, like sponsors, trusts, asset management companies (AMCs) and custodians.
 
 
Mutual funds provide the benefit of diversification that helps minimise the impact of volatility
 
 
Regulations pertaining to sponsors and trustees are crucial to protecting investor interest. For instance, to be the sponsor of an MF—the sponsor of an MF is what a promoter is to a company—one needs to have at least five years of experience in the financial services business, three of which should have been profitable. This ensures a minimum track record for the sponsor, whose expertise should give investors comfort.
The board of trustees, which is set up by the sponsor, also aims to protect investor interest. At least two-thirds of the directors on the board are required to be independent. This helps in maintaining an independent stance, albeit slightly tilted in favour of investors. Trustees also monitor fund performance and compliance with Sebi regulations. The trust holds the investors’ money in fiduciary capacity. The Sebi MF regulations, 1996, give the trustees immense power. In case of continuous underperformance and unethical practices, trustees can even dismiss the AMC.
Regulatory safeguards. Sebi’s investment guidelines add another layer of protection. For instance, an equity MF scheme cannot account for more than 10 per cent of a company’s paid-up capital. Similarly, a debt scheme cannot invest more than 10 per cent of its corpus in unrated debt instruments issued by a single issuer, and the total investment in such instruments cannot exceed 25 per cent of the scheme’s net asset value (NAV). These stipulations go quite some way in making the investments more secure. Besides, Sebi has introduced a slew of changes over the last two years, which includes making the Scheme Information Document available to the investor. Also, scheme-related documents now provide detailed information on fund policies, risks, trustees and operations. Some other changes that Sebi wants to introduce aim to bring in standardisation and transparency in disclosures by MFs. Apart from these in-built structural and regulatory features for safety of investments, there are three other aspects reinforcing this effect.
Benefits Of Diversification
MFs provide the benefits of diversification that help any investment to minimise the impact of volatility and earnings risk as opposed to investing in individual securities. One can diversify across asset classes—equity or debt—and across companies and sectors.
Wide product range
You can invest in MFs according to your risk appetite. If you are risk-averse, you may go in for debt funds or a combination of debt and equity, such as monthly income plans and balanced funds. Those willing to take risk for the sake of greater returns may go for mid-cap or sectoral funds.
Risk management
Apart from the benefits of diversification and a wide product range, MFs have another safety feature. Each AMC has its own internal risk management teams comprising risk analysts, who monitor risks and keep them in check.
To sum it up, an investor who is well-informed about product features can look forward to investing in MFs with confidence.

Infrastructure Bonds: Bond With The Best?

From Outlook Money
Are infrastructure bonds worth the hoopla?
Since the finance minister mentioned of infrastructure bonds in his 2010 Budget speech in March, the investing space has been abuzz with speculation. Last week, the finance ministry allowed Industrial Finance Corporation of India, Life Insurance Corporation of India, Infrastructure Development Finance Company or any other non-banking finance company which is an infrastructure company to issue these bonds in the financial year 2010-11.
Tax savings. Long-term infrastructure bonds would have a maximum investment limit of Rs 20,000 per investor and it would come with a tax benefit under Section 80 CCF. This deduction would be over and above the limit of Rs 1 lakh under Section 80C. For those paying 10.3, 20.6 or 30.9 percent tax, the extra savings on tax on investment of Rs 20,000 would be Rs 2,060, Rs 4,120 or Rs 6,180, respectively. The bonds would be for a term of 10 years with a lock-in of five years.
Return. The interest rate would be fixed as per the yield of the government security of the same maturity at the time of issuing of these bonds. The interest would, in all probability, be taxable in the hands of the investor in the year of receipt although such specification would be disclosed by individual issuer of such bonds.
Should one invest? For those who have utilised the Section 80C benefit, any investment in these bonds saves tax according to their tax rate. But for those who haven’t made use of the existing limit of Rs 1 lakh so far, the taxability clause of interest on these bonds remains to be seen. A notified bank FD for a 5-year period may give you a slightly better coupon rate. Assuming a coupon of 7.5 per cent, the post-tax return could be in the range 5.18 to 6.7 percent, tax-free. Considering the additional deduction as per the slab, it’s an investment worth considering.

INSURANCE: LIFE Queries

From Outlook Money


How does it affect the risk cover under a life insurance policy if one pays the premium during the grace period offered by the insurer?
Sundar Gupta asked:
Each and every life insurance policy states the date on which the renewal premium is payable by the insured. The policies also provide a grace period for the payment of the premium. The grace period is one month for policies having yearly, half-yearly or quarterly premium payment terms. However, it is 15 days if the premium is paid on a monthly basis.
During the grace period the policy remains in full force, even if the due premium is not paid. Also, there is no additional interest on the premiums paid during the grace period. In case of the death of the insured during the grace period, the claim is payable in full subject, however, to the deduction of the unpaid premium amount.

Is partial withdrawal taxable for unit-linked plans (Ulips)?
Prasant Shaw, email
The question of taxability against partial withdrawal for Ulips arises only if the policyholder claims deduction at the time of contribution to the Ulip scheme. Taxability of the amount withdrawn from an Ulip corpus depends on the policy year. If the withdrawal takes place before the five years of the policy, the amount withdrawn becomes taxable. However, if the policy has run for more than five years, then the withdrawal is not taxable.

I could not pay the premiums under my life insurance policy for the last one year due to some personal problems. Now, I want to continue with the policy. What shall I do to resume premium payment and continue with the policy?
Vikram Verma, email
You have not mentioned the type of policy you hold. We assume that it is an endowment plan. In case of an endowment plan, most of them lapse if the premiums are not paid for more than six months. In such circumstances, you should approach the policy issuing office of the insurer and complete the formalities required for the revival of the policy. Depending on your health conditions and your age, you may have to undergo some medical tests before the insurer revives the policy.

I have taken a personal loan from a public sector bank. Can I keep my life insurance policy as security against the loan? What is the procedure?
Manju Sridhar, email
Life insurance policies are accepted as collateral security by most financial institutions. Therefore, you can certainly offer your life insurance policy as security for your personal loan. However, for this facility you will have to assign the policy in the favour of the lending institution. You will also have to approach the policy issuing office of the insurer and complete the paperwork related to the assignment of the policy.

My ex-husband has a insurance policy under which he made me the beneficiary. It’s almost a year now that we have separated. Can I still remain the nominee to the policy?
Reenu Singh, email
You have mentioned that the owner of the life policy is your ex-husband. So, it will be his sole discretion to appoint anyone as a nominee under the policy. A nominee need not be a relative. Therefore, even after the separation you can remain a nominee under the policy.
However, you must remember that a nominee is only meant to give a valid discharge under a policy as far as the insurer is concerned. A nominee receives the proceeds on behalf of the legal heirs of the insured. Information regarding nomination is not made public by any company unless it has been authorised by the policyholder.

TAXATION The Second Chance...

From Outlook money

31 July is gone and you are yet to file your tax return? here's what you can still do


All Is Not Lost, Yet
  1. Haven’t filed your return by 31 July? You have time till 31 March to do so.
  2. The extra time, however, doesn’t come for free. If tax hasn’t been paid before 31 July, you need to pay interest under Section 234A of the Income Tax Act.
  3. Is your tax liability Rs 10,000 or more? Then, you must have paid advance tax. If you haven’t, along with the interest under Section 234A, you also need to pay interest under Sections 234B and C.
  4. Business loss or any other loss cannot be carried forward since you are filing a late return; only loss from house property and absorbed depreciation can be carried forward.
  5. Late returns cannot be revised. So, be very careful while providing information.
  6. You can e-file late returns. Last date to e-file is 31 March 2011.
  7. If returns aren’t filed by 31 March, a penalty of Rs. 5,000 could be levied on you.
***
Life is no less taxing without the necessity to pay taxes. But when you can't escape it, why not be a little prompt to avoid any pain in the future? If your income is already subject to tax deducted at source (TDS), the necessity to pay tax doesn't arise. In such a case, you are excused if you don’t file your return on 31 July. But make sure you do it by end of the current fiscal year, i.e., 31 March 2011. There is a possibility of the income tax department levying a penalty of Rs 5,000 if you fail to do so. If TDS has been deducted at a higher rate, or tax has been deducted without providing for Chapter VI-A deductions or other deductions such as interest on housing loan, you may also be eligible for tax refund. Here again, the second deadline is 31 March.
Business loss
If you are running your own business, it's important that you adhere to the due date. Says Manoj Yadav, co-founder, www.taxspanner.com, an online tax filing portal: "All losses are allowed to be carried forward to the next year only if return is filed by July 31. Exception to this is loss under the head of house property. Unabsorbed depreciation can also be carried forward.”
Tax not paid
The process gets expensive for those who haven't paid their taxes and also skipped the due date for filing returns. Three types of interests are attracted in such a case:Interest for not furnishing tax return (Section 234A). If you file the return of income for the assessment year (AY) after the due date, you can get off by paying simple interest at the rate of 1 per cent for every month, starting from the day after the due date. Interest is calculated on the amount of the tax on the total income, after adjusting for TDS.
Advance tax not paid. Does your tax liability for the AY exceed Rs 10,000? If yes, then you must have paid tax in advance. If you haven't, and missed the deadline for filing the return too, two types of interest apply. First, you have to pay interest under Section 234B. This section is attracted when an assessee who is liable to pay advance tax has failed to pay such tax or, when the advance tax paid is less than 90 per cent of the assessed tax. Section 234C is also attracted for having deferred the payment of the advance tax.
Long due. Are you one of those who have not filed their returns for a long time, say five years. Tax laws recognise only the returns filed for the preceding two assessment years as valid. We are now in 2010-11. Hence, returns filed for AY 2008-09 and 2009-10 only will be valid, though there is nothing that actually prevents you from filing returns for the previous years. “If the IT department decides to open the assessment for those previous years, you may inform them that you have now filed the returns. The department may either accept it or insist that you file it again,” says T.G. Suresh, a Chennai-based tax practitioner. As he suggests, you can file returns for the previous two assessment years and file the returns of the years preceding them whenever called for.
E-filing
Paperless filing is possible even in case of belated returns. But you must do so before 31 March 2011. A belated return cannot be revised. Says Mamtha Banerjee, founder & CEO, www.investmentyogi.com, a personal finance website: “You need to pay more attention while e-filing after the due date. Adhere to the checklist carefully. Ensure all the data given is correct."

hamsini AT outlookindia.com

Buying a House: 10 Nasty Traps To Avoid

From Outlook Money

COVER STORY

The path to buying a house is strewn with a lot of risk. A survivor’s guide in a time of rising prices and hard sell
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  1. “The project is located a km or so away from the proposed metro station/airport” What to do Do the necessary due diligence on the proposed project, starting from the website of the authority concerned. Visit the location. Rely more on the existing infrastructure.
  2. “Last few flats left, book now” What to do See the number of prospective homebuyers who have come to meet the real estate agent. Visit the construction site to see the progress. Check the the pace of activity in adjoining sites. Seek advice from online groups.
  3. “Book now. Prices are expected to move up very soon” What to do Check movement of capital values in the locality over the past one year. If there has been a rapid rise in prices, find out the reasons.
  4. “Book now and get free gifts” What to do Try to evaluate the monetary value of the gift. Go for a house that fulfils your requirements. Do not let the freebies on offer dictate your decision.
  5. “Prices are on their way up” What to do Don’t lose patience; wait till you find a house that fulfils your requirements. Real estate is no different from other asset classes. If prices go up during a particular period, they will also come down during a downturn.
  6. You are shown the sample flat and persuaded to make a buying decision based on that What to do Insist on checking the space that is being provided in the layout of the actual flat. Get an idea of the ratio between the carpet area and the super-built up area.
  7. “No EMI till possession” What to do See how much extra the developer is charging because of the offer. Check all the terms and conditions.
  8. You pay the booking amount to the developer but the lending institution refuses to approve the loan for the said project. What to do Check if the developer has a tie-up with any home loan financing company (HFC). Enquire about the soundness of the project. Take the HFC’s help to check the property title, the sanctioned plan and the necessary clearances.
  9. You have selected the property, even paid the booking amount to the developer but the lending institution refuses to approve the loan to you. What to do At least six months before you plan to take a loan, apply for a copy of your credit history from Credit Information Bureau (India). In case there are any anomalies, get them sorted. If you have been servicing other lines of credit, make sure you do so regularly.
  10. You select the property, pay the booking amount, but the lending institution does not approve the amount of loan as per your requirement. What to do. Take the help of a valuer before you sit down to negotiate. Apply for a loan with at least 2-3 HFCs. Choose the HFC that gives you the loan at the best rate of interest, and of an amount that’s close to your agreed sale price.
***
Of late, have you been receiving pesky texts advertising property launches with ridiculous frequency? Oh, that wasn’t supposed to be a question! Of course, you have been, and believe us, you are not alone. In fact, from national dailies to local FM channels, the clamour—soon-to-be-over deals, freebies and prime locations—is ubiquitous. Almost makes you believe the heady days of the pre-recession era are back. But actually, it’s the other way round.
Following the global economic crisis, homebuyers started to come back to the market around October-November 2009. The next six months or so saw huge volumes as sales picked up. However, festivities for the sector seem to have fizzled out. Says Pankaj Kapoor, founder and chief executive officer (CEO), Liases Foras, a real estate research firm: “Sales have virtually reached a real low in the last few months. In Pune, sales are down 50 per cent compared to the last quarter, while in Mumbai they are down 25-35 per cent. The same is the scenario in Chennai, Bangalore and other cities.” Clearly, real estate developers are under a lot of pressure stemming from unsold inventory and slumping sales, which have led to very low liquidity. With their backs to the wall, the only recourse for developers is getting rid of the unsold inventory. The recent marketing frenzy is aimed at just that and, needless to say, deals often smell fishy, if not outright dishonest.
The modus operandi of the whole exercise is simple yet effective: make the offer sound unbelievably good and instil a false sense of urgency in the mind of the consumer. More often than not, the human psyche falls prey to this set-up of temptation and fabrication.

Behind The Freebies
A look at what has forced real estate developers to come up with a deluge of lucrative offerings
  • Compared to October 2009-March 2010, sales volumes were drastically down over April-June 2010 primarily because home prices had risen sharply, especially in select locations in Mumbai and Delhi NCR.
  • Poor sales have led to inventory piling up at the developer’s end. The freebies offered by developers are aimed at attracting prospective homebuyers.
  • It is difficult for developers to lower prices beyond a certain point. The freebies, developers believe, will support the prevailing prices by generating interest among homebuyers.

Take, for example, the deluge of freebies being offered by the developers, most of whom are relatively new and lesser known. In fact, established developers usually do not resort to such measures.
Although there might be a handful of exceptions (the chances of which are abysmally low), the truth remains that developers have laid booby traps for prospective homebuyers. The marketing spiel, of course, varies from seller to seller. In this story, we highlight the 10 common traps that can get the better of the prospective homebuyer (some laid by developers and some self-created), the dangers of falling into them and, most importantly, the suggested course of action to negotiate this obstacle course.


“Go by the existing infrastructure. Don’t bother much about the proposed infrastructure; pay higher value because of that only to an extent” — Pankaj Kapoor, Founder and CEO, Liases Foras“We observe that prices have run up in the last one year. In some cases, they have even reached the peak” — Pranab Datta, Vice-Chairman & Managing Director, Knight Frank (India)

“While visiting a sample flat, what matters most is not its visual impact, but an understanding of how the available space in an unfurnished flat can be used” — Anuj Puri, Chairman and Country Head, Jones Lang Lasalle Meghraj“For EMI sharing schemes, the consumer is charged a slightly higher price than those prevailing in the market (but this is not made evident to him)” — Aditya Verma, Coo, Makaan.Com

“project will be located a km (or so) away from the proposed metro station/airport”
Recently, this has been a common sales gimmick, especially in the National Capital Region (NCR). Once an infrastructure project is announced in a particular location, capital values in the locality go up. In Bengaluru, for instance, capital values had shot up as soon as the plan for the new international airport at Devanhalli was announced. In cases like this, the developer is trying to sell you the location rather than the house. Historically, there have been significant delays when it comes to the completion of infrastructure projects in India. To give you an idea, the recently commissioned Bandra-Worli Sea Link was completed with a delay of five years. If you book a unit in the hope that an infrastructure project will come up nearby, you may end up in a location devoid of any social infrastructure. Plus, if you book such a unit for investment purposes, you would need to hold on to it for a long time before there is any meaningful increase in capital values. The worst part, however, is that the developer will charge a premium for the unit based on future capital appreciation, which depends on the materialisation of the infrastructure project.
Course of action. Even before you visit the location, check the project’s status on the website of the authority concerned. Check the scheduled completion date and the authority’s track record in meeting deadlines. After these preliminary checks, visit the site to see how far the house is from the project’s proposed location. Look for signboards or any construction work happening there.
If you are satisfied with the house, take a look at the infrastructure available and don’t bother much about what’s proposed.
“Last few flats left, book now”
This is a common sales pitch you will come across. Here, the real estate agent is trying to play with your psyche. It’s well known that buying a house is arduous and, many a time, you just want to close the deal. The developer/agent is trying to target this particular vulnerability. If you take him at his word, you might end up making a mess of the budget you had allocated for your home purchase.
Course of action. When the real estate agent gets pushy and makes such statements, look for a few things to find out if he is telling you the truth. First, see how busy he is. The number of prospective homebuyers that have come to meet him is usually a good indicator. Second, see the progress on the construction site. A project that is witnessing demand and has people lining up will also have some progress on the ground. Check the adjoining sites and see the pace of activity at those locations. If there is hardly any work going on, looking at another project and another location would not be a bad idea.
You can also consult online groups for feedback on the project you are interested in. Says Vineet K. Singh, business head at realty portal 99acres.com: “Nowadays, online groups are getting popular. Members put in their experiences for unknown online friends freely, without much hesitation.”

The Lingo Of Deception
These days, every second text message you receive on your mobile entices you to buy or invest in a housing project. Here are examples of the typical SMS language used and the real intent behind it.

“Book now. Prices are expected to go up very soon”
This is another attempt at taking control of the buyer’s psyche. If you buy the spiel, you will end up booking the unit in haste. Obviously, the chances of your making a mess of the budget rise, not to mention the potential loss you will incur if the price of the unit falls in future.
Course of action. As a first step, check the movement of capital values in the location over the last one year. If capital values in the locality have appreciated at a higher rate than other areas of the city, find out the reason. There are chances that you would not find a solid reason for the rapid increase. In that case, it makes sense to give the property a miss. The rapid increase in prices in a certain locality without a substantial reason is an indication of speculators being very active. Says Samarjit Singh, managing director at Agni Group, a property broking company: “Try to book a unit while the project is in its early stage to avoid such issues. Go for flats directly available from developers.”
“Book now, get free gifts”
With inventories piling up, developers have started to attract homebuyers with freebies (cars, club and swimming pool memberships, and so on) instead of bringing down prices. Says Aditya Verma, chief operating officer (COO), makaan.com, a real estate portal: “With many housing projects coming up and a huge inventory to dispose of, developers are forced to offer such incentives and freebies to attract homebuyers to maintain the prevailing price level.” However, note that most of these freebies are offered by lesser known or new developers. Established players seldom try to sell a project by offering freebies.
Course of action. Your decision should never be influenced by the freebies on offer as most of them are insignificant compared to the apartment’s price. Even if there is an offer, evaluate its monetary gains before you book the property. Usually, the cost of such offers is bundled with the cost of the house.
Some developers might say that by booking a unit in the project, you will be eligible for a lucky draw. Remember, the probability of your hitting the jackpot is miniscule. If you lose, which the majority does anyway, your money will go towards funding the prize of the winner. While buying a house, it is more important to see if the property meets your requirements and if it is within your budget. Do not get carried away by offers.
“Prices are going up”
The typical real estate agent is a brilliant orator. When he speaks about house price movements in the recent past, thanks to half-truths supplemented by his never-ending drivel, the average customer starts feeling like a loser. News of price increases don’t help either—it aggravates this feeling of loss.
Course of action. India faces a huge housing shortage, which means there will always be demand for good quality housing. Over the long term, therefore, prices of residential units will go up. But there is no need to lose patience. Decide on a budget for buying the house and start raising the downpayment money. Once you have located the right house, go ahead and buy it. Remember that real estate is no different from other asset classes. If prices go up, they also come down during a downturn. No one can tell the exact state of affairs, say, six months down the line.
You are shown a sample flat in the project you intend to buy
This is very common. Usually, the developer or the real estate agent will show you a sample flat saying your flat will be almost similar to it. The reason why you should not base your buy decision on the sample flat is that there may be a huge difference in what is being shown and what you would get. “In case of a sample flat, most of the items on display inside the house don’t form part of the standard apartment being sold,” says Pranab Datta, vice-chairman and managing director, Knight Frank (India), a realty consultancy. Generally, the premises in which the sample flat is built have well-maintained gardens and fountains to entice you. They may not be part of the actual project.
Course of action. Once you have seen the sample flat, go and check the space being provided in the layout of the actual flat. Get an idea of the ratio between the carpet area and the super-built up area. “A buyer needs to check how much he is paying and how much usable area he is getting,” says Kapoor.
“No EMI till possession”
This line traces its origin to the 2008-09 lull in the residential property market. EMI sharing schemes are on offer even now. The trap here is that developers try to show the homebuyer how cheap it is to buy a house with some ‘initial assistance’. Developers providing such a facility typically charge 8-10 per cent higher prices than those prevailing in the locality (see EMI Sharing-How Profitable?). Says Anuj Puri, chairman and country head, Jones Lang LaSalle Meghraj, a real estate consultancy: “Note that the EMI burden is already factored into the builder’s costs.”
Course of action. EMI sharing can help a homebuyer on two fronts. First, one of the major concerns of the buyer is to get the house’s possession on time. With an EMI sharing scheme, the developer’s commitment to completing the project on time increases. Says Verma: “By offering EMI sharing, the developer is displaying the confidence of executing the project on time.” That’s because the sooner the developer hands over the possession, the earlier he will get rid of the EMI burden. The second aspect is that EMI sharing can help a homebuyer manage his cash flows more efficiently in the initial stage of homebuying. Says Samarjit Singh: “Developers sometimes charge extra for such schemes, so one needs to see if it will help him with his cash flows.”
However, before you opt for an EMI sharing scheme, you must check the terms and conditions. Warns Vivek Dahiya, founder and CEO, GenReal Property Advisors: “One needs to be careful and make sure he reads the fine print and understands the liabilities.”
You book the house but lender refuses loan for that project
Such a situation may arise if the developer’s persuasion got the better of your wit, and you booked the unit without the necessary due diligence. If the lending institution refuses a loan for that project, your money will get stuck at the developer’s end.
Course of action. Before you make the downpayment, do the necessary due diligence. First, you should check if the developer has a tie-up with any home loan financing company (HFC). If he has, get in touch with the HFC and enquire about the project’s soundness. If there is no such tie-up, then approach an HFC and ask them if the project concerned is on their approved list.
You could also hire the services of a lawyer from the HFC to ensure that the developer has a clear title to the land on which the project is being built. The HFC should be able to tell you if the project is being built as per the sanctioned plan. You should also check if the developer has the necessary clearances.
You book the house but lender refuses to approve loan to you
Situations like this are a demon of your own making. Usually, the lending institution refuses to approve the loan application if you have a bad credit history. In such a case, chances are that you will not be able to get a loan from any lending institution.
Course of action. At least six months before you plan to take a loan, apply for a copy of your credit history from Credit Information Bureau (India), Cibil. If you notice anomalies, get them sorted out. Clear any small-ticket loans before applying for a home loan—any existing loan at the time of application will reduce the amount of home loan you can expect to get.
You book the house but lender doesn’t approve loan amount
Such a situation usually arises in the case of resale of property. If the lender doesn’t agree to sanction the amount of loan you applied for, you will need to dig into your resources to make a bigger downpayment.
Course of action. Once you select a property, get it evaluated by a professional valuer. This will give you an idea of how much you can bargain. Try to bring the price as close to the valuer’s figure as possible. If you can’t make any headway, look for a property elsewhere. But if you are able to arrive at a price that is close to the valuer’s figure, pay the booking amount and apply for a loan with 2-3 HFCs. That’s because each of them will have their own parameters to evaluate the property. Choose the HFC that gives you the loan at the best rate, and of an amount that’s closer to your agreed sale price. This way, the downpayment you’d need to arrange will not be huge.
Owning a house is your pride and joy. But the journey to buying one abounds in traps that could mar the entire experience and render it unforgettable. Brace yourself up for it, it’s a cruel world out there.

बीएसएफ के स्पेशल डीजी जोधपुर पहुंचे


दैनिक भास्कर से 
वृहस्पतिवार,12 अगस्त, 2010 

जोधपुर. सीमा सुरक्षा बल के स्पेशल डीजी आरके मेडेरकर बुधवार सुबह जोधपुर पहुंचे। वे गुरुवार को जैसलमेर से सटी पाकिस्तानी सीमा पर अग्रिम सीमा चौकियों का दौरा करेंगे।

इससे पूर्व वे जोधपुर स्थित सहायक प्रशिक्षण केंद्र के 175 नवआरक्षकों के दीक्षांत समारोह में बतौर मुख्य अतिथि शामिल होंगे। मेडेरकर के बुधवार सुबह जोधपुर पहुंचने पर बीएसएफ के आईजी केएल मीणा ने उनकी अगवानी की। उन्होंने बीएसएफ मुख्यालय पहुंचकर अधिकारियों से राजस्थान से सटी सीमा के हालात की जानकारी ली।

बाद में बीएसएफ के सहायक प्रशिक्षण केंद्र में ट्रेनिंग और दीक्षांत परेड की तैयारियों का जायजा लिया। वे गुरुवार सुबह सात बजे ट्रेनिंग सेंटर के स्टेडियम में आयोजित होने वाले समारोह के मुख्य अतिथि होंगे और 

Wednesday, August 11, 2010

Arms factory busted in Assam

From IBNS

Tezpur, August 11 (IBNS) : An arms factory was busted and two women cadres
of militant group National Democratic Front of Bodoland (NDFB) were arrested
by security forces in Assam's Sonitpur district on Wednesday, police said.

Acting on a tip-off, a joint team of police and army launched an operation
at Jugibeel under Rongapara police station in the district of
Assam-Arunachal Pradesh border area early Wednesday.

''We had specific information and launched the operation, where security
forces busted an arms making factory inside the dense forested ,about 15 kms
from Rongapara,'' Sonitpur Superintendent of Police (SP) Jitmol Doley said.

Security forces recovered huge quantities of gun making items, barrels,
explosives from the busted factory.

Security forces also nabbed two women cadres of anti-talk faction bodo rebel
group of NDFB.

''Four other militants managed to flee from the site with the help of
darkness,'' police said.

In intelligence report, more than 150 hardcore NDFB militants took shelter
and constructed four camps in the dense forest area of Arunachal Pradesh.

-

राजस्थान सीमा पर घुसपैठ की आशंका ,बीएसएफ अलर्ट

दैनिक भास्कर से 

जोधपुर। पाकिस्तान से सटी राजस्थान सीमा पर घुसपैठ की आशंका के दृष्टिगत बीएसएफ के जवानों को अलर्ट किया गया है। खुफिया एजेंसियों को आशंका है कि जम्मू-कश्मीर में सख्ती की वजह से राजस्थान की सीमा से आतंकवादी प्रवेश कर सकते है।




अनूपगढ़, मुनाबाव व शाहगढ़ बल्ज इलाके में भारी बरसात से तारबंदी के नीचे की मिट्टी हटने की वजह से घुसपैठ की आशंका को देखते हुए चौकसी बढ़ा दी गई है। बीएसएफ के डीआईजी आर सी ध्यानी ने बताया कि खुफिया एजेंसी के अलर्ट करने पर राजस्थान सीमा पर सतर्कता बढ़ा दी गई है। बाढ़ और अतिवृष्टि से प्रभावित इलाकों में विशेष चौकसी की जा रही है।

Militants surrender in Tripura

From Nongsain


Agartala, Aug 11 Fourteen insurgents of outlawed National Liberation Front of Tripura (NLFT) surrendered to the security forces after fleeing from camps in Bangladesh, police sources said today.
Nine of the militants along with 12 family members surrendered at the Amar BSF outpost in North Tripura district yesterday. The militants deposited one rifle, the sources said.
Another group of five miltants of the same outfit surrendered to Assam Rifles at Akhirampara in Dhalai district on Monday.
The first group of nine militants were among thirty who fled from camps in the Chittagong Hill Tracts in Bangladesh, but were attacked on the way by another group of insurgents.
After the encounter the others went missing.
DIG, Police control, Nepal Das said, Bangladesh security forces had intensified operations against Indian militants. PTI JOY

Data on Karimganj border

From Assam Sentinel
 
From our Staff Reporter
SILCHAR, Aug 10: Illegal immigration from Bangladesh through porous border might have been the epicenter of State’s politics, but how sincere was the Governments, both in Dispur and Delhi, to solve the problem permanently? The question assumed significance as the Centre and State Government had apparently contradictory statistics and data regarding the sensitive Indo-Bangla border at Karimganj. Here are some instance which once again proved that both Dispur and Delhi were not at all serious for solving the infiltration problem as well as towards border fencing.
Responding to some queries, though RTI by Joy Sankar Bhattacharjee, a Delhi-based retired bank employee who originally belonged to Karimganj, SM Sahai, Director, Border Management under Home Ministry states that, Indo-Bangla border in Karimganj district stretched around 87.600 km, out of which 47.200 km was land and rest 40.400 km was riverine border. Sahai claimed that the BSF had been manning 87.600 km. But surprisingly, the Karimganj district administration in a reply, signed by HZ Hazarika, ADC, to Bhattacharjee stated that total length of Indo-Bangla border in the district was 105.217 km out of which 69.867 km was land and 35.85 km was riverine border. Hazarika further added that out of 69.867 km land border, barbed fencing had been completed for 68.250 km, single type for 49.600 km and composite type for 18.650. Out of 35.80 km riverine border, possession of required land for 29.50 km length had been handed over to the National Building Construction Company (NBCC), the company authorized by the Union Government for Border Fencing.
On the other hand, the NBCC in its reply to Bhattacharjee said, total length allotted to it for fencing work was 35 km in second phase and 29.015 km in the third phase. Rs 54.63 crore and Rs 13.99 crore had been spent till September 30, 2009 for these two phases respectively. NBCC admitted that, till now there had been a single visit by an officer in the rank of Secretary from the Border Management Division of Ministry of Home Affairs. State’s Revenue Minister Bhumidhar Barman had visited thrice while Principal Secretary of the Assam Government along with AASU delegates visited once. Annual budget from phase II was Rs 64.30 crore and for phase III it was Rs 29.55 crore, the NBCC communique stated.
Now the inevitable question was, why there was this difference regarding the actual length of border in the version of the State and Central Government? Is it an indictor of corrupt practise in fencing work?

Red tape unravels, kids go home

From The Telegraph
Malon (North Dinajpur), Aug. 10: Bangladeshi children Krishna and Anima, separated from their parents because of red tape in Dhaka, were finally sent home with three other children yesterday.
The return of Krishna, 14, and Anima, 12, came about after The Telegraph reported in its July 10 edition how a bureaucratic lapse in Dhaka had split the Bangladeshi family of four. Madan and Malati Barman were separated from their minor children when they set foot on home soil on June 30 after serving a jail term in India for infiltration.
The three other children, all boys, sent back had been caught by the BSF from the border on June 23. They had strayed into the Indian territory while fishing in a creek.
On Saturday, the state Juvenile Justice Board had “recommended” to the North Dinajpur district administration that arrangements be made to send the three back as soon as possible. But the deputy inspector-general of the BSF in the Raiganj sector, Jaswant Singh, decided to take up Krishna and Anima’s case as well. “I told my officers to raise the case of the brother and sister as the Bangladesh deputy high commission in Calcutta confirmed in writing to the Indian external affairs ministry that the two children were bona fide Bangladeshi nationals and had agreed to their early repatriation,” said Singh.
The BDR officers were shown the letter from the deputy high commission. “They were convinced and agreed to take back all the five and asked us to bring the children to the border at 10am on Monday. I had read The Telegraph report on how the two children had got separated from their parents,” said Singh.
The siblings had been caught along with Madan and Malati in 2007. The parents were “pushed back” to Bangladesh on June 30, but the BDR denied the children entry saying their names were not on the list of people to be sent back. Since then, the kids were being kept at a Raiganj welfare home.
“I did not believe Krishna when he told me that we would be returning home. I had been feeling sad initially when I came to know that (only) the three (other) boys were going to be released,” Anima said, before getting into a van.
The other kids were just as delighted. One of them, Muntu Ali, said he was so happy he couldn’t sleep after being told they would return home.
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BSF Theme Song by AR Rahman: Video Link

We can download BSF Theme Song video at following link.

http://www.oonly.com/video/IuvW5o_lDzQ/Bsf_Theme_Song_By_Ar_Rahman

Tuesday, August 10, 2010

No threat to Beating the Retreat ceremony: Pak

Last updated on: August 10, 2010 01:41 IST


Pakistan has made elaborate security arrangements on its territory during the routine evening Beating the Retreat ceremony, said a senior official of the country on Monday.
Talking to media, Pakistan Rangers Deputy Director General Brigadier Shafaquat Khan, who arrived here along with a 15-member delegation, said there was no imminent security threat at Wagah border in Pakistan from any outlawed organisation during the evening ceremony.
The Pakistan Government has already made foolproof elaborate security arrangements at the International Border(IB)for the parade, he asserted.
Khan was with his team to participate in the quarterly meeting with his Indian BSF counterparts to discus the international border related issues.
The key issues discussed in the meeting were related to defence construction on IB, allegedly by Pakistan on its side, firing incidents, drug trafficking, arms smuggling, inadvertent border crossing, infiltration and other matter of mutual interests, said Indian BSF DIG C Vasudevan.