Thursday Linkfest [2010-03-19]

Some interesting posts I’ve come across today:

Author: Austin Comments: 4 comments Date: 19 Mar 2010 More: Read more
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Should You Be An Entrepreneur?

Should you join the millions of people every year who take the plunge and start their first ventures? Daniel Isenberg, a former entrepreneur and management practice professor, examines the personal qualities and mind set that tend to be common amongst the successfully self-employed.

Daniel further states, which caught my eye, on the average, people who set up their own businesses don’t make more money, although a few do succeed in grabbing the brass ring. But the “psychic benefits” — the challenge, autonomy, recognition, excitement, and creativity — make it all worthwhile. Continue reading “Should You Be An Entrepreneur?” »

Author: Austin Comments: 3 comments Date: 9 Mar 2010 More: Read more
Categories: Blogs Tags: ,

Term Insurance Your Best Life Cover Bet

Imagine this scenario. You were leading a prudent financial life during 2004-07, having moderate expenses and small loan EMIs, while your stocks and equity MFs were giving rocking returns. But there was one chink in your armour — you had inadequate life cover. Then came the big plunge of 2008. If the worst were to have happened to you in December 2008, your family would surely had to make a fire-sale of your investments that you had painstakingly made. Continue reading “Term Insurance Your Best Life Cover Bet” »

Author: Austin Comments: 0 comments Date: 7 Mar 2010 More: Read more
Categories: insurance Tags: , , , ,

10 Money Tips for a Holiday Abroad

So finally you’ve decided that you’re going to take that well deserved vacation — away from all the madness at work. I won’t get into why you need a holiday but instead provide you with money tips when planning a holiday. What if your credit card isn’t accepted and you aren’t getting a decent exchange rate for your native currency? Here’s the checklist:

1. Take along your major credit cards — make sure they are really credit cards and not just debit cards with a credit card company’s logo on them. Many locations require a credit card and will not accept a debit card, so they may have limited use on your travel.

2.  Notify your credit card company of your trip before you leave. The unfamiliar spending patters might cause them to suspect that the card is being used fraudulently and delay your approvals. Further, they will explain many of the services that they can provide while you are on your trip. Continue reading “10 Money Tips for a Holiday Abroad” »

Author: Austin Comments: 4 comments Date: 6 Mar 2010 More: Read more
Categories: Money Tags: ,

PayPal to resume local bank withdrawals to India

PayPal resuming local bank withdrawals to India

Just received an email from PayPal stating RBI has allowed them to continue local bank withdrawals for settlements for exports of goods and services. Paypal anticipates that, as of Wednesday, March 3rd, customers will be able to use their bank withdrawal service. However, the bad news is — personal payments into India still stand suspended till further notice.

Below is the email I received from PayPal:

We have been diligently working with the RBI and our business partners to resume Indian bank withdrawals for the thousands of Indian businesses who depend on PayPal to sell their goods or services in the global marketplace. Continue reading “PayPal to resume local bank withdrawals to India” »

Author: Austin Comments: 3 comments Date: 27 Feb 2010 More: Read more
Categories: Money Tags: , , , ,

Online Money Transfer (NEFT) to become Faster

NEFT

The National Electronic Funds Transfer (NEFT) system has been successfully handling significant volumes, ever since its launch in November 2005. More than 6 million transactions were processed by the system during the month of January 2010 alone. The coverage has also increased substantially with the participation of over 63,000 bank branches spread across the length and breadth of the country. Continue reading “Online Money Transfer (NEFT) to become Faster” »

Author: Austin Comments: 0 comments Date: 22 Feb 2010 More: Read more
Categories: Banks Tags: ,

Go Green, SMS the Money

Go Green, SMS the Money

The State Bank of India is planning to quadrapule its branch network not by the conventional branch network manner but by using Mobile Banking. Yes, and the idea is to reach out to all those rural areas where it would be costlier to expand via the conventional branch network way. Continue reading “Go Green, SMS the Money” »

Author: Austin Comments: 4 comments Date: 21 Feb 2010 More: Read more
Categories: Banks Tags: , ,

Payment of Interest on Savings Bank Account on a Daily Product Basis

Interest on Savings Account

Well, the party is (almost) over for banks in India. Seriously, with the kind of interest calculation method being currently used for saving account holders it indeed is a party for the bank to enjoy such an enormous amount of free float at the cost of the janta.

Hopefully if the banks don’t make some lame excuses to push the deadline, come April 2010 the deposits in our savings account should earn us more by way of interest. That’s because the Reserve Bank of India has asked banks to start calculating interest rates on these accounts on daily basis from April 1, 2010. Continue reading “Payment of Interest on Savings Bank Account on a Daily Product Basis” »

Author: Austin Comments: 2 comments Date: 20 Feb 2010 More: Read more
Categories: Banks Tags: , ,