New Pension scheme to be launched from April

Come April and a New Pension scheme would be launched. It is initiative by the government to introduce a scheme wherein it would be easy for employees to invest their money in order to build a Pension corpus. Details of the scheme is out and the government has also finalized the asset managers who would manage part of money on behalf of the investors.

There was a lack of pension scheme in the market. This was the reason that current old age people was suffering at this time. The awareness regarding the pension was not much there in the past. Today the pension amount is too less to take care of their needs. Also the amount saved by them is so meager that its almost impossible to survive with it.

It is definitely a good start because one can expect more reforms in this direction. The gap was there almost from the start and it needed a positive approach. The induction of private fund manager is another step which is positive in this direction. The scheme has also options both for the educated and the novice ones. It gives flexibility to opt from various option including debt and equity.

While the feedback still need to come on NPS but the policy is out and there are very positive vibes in the market. We wish things will be fine from here on and would improve with time.                                                              

Natural Beaute de Maman Beauty Products for Pregnant Ladies

Pregnancy is one of the most beautiful experiences in a woman’s life. Women need to be very diligent and aware about anything they eat or use during pregnancy. Pregnancy can cause psychological and hormonal changes in women body which can lead to variation in mood and behavior. For the first expectant moms, the stage becomes even tougher.


Beaute de Maman has a line of beauty and health products made specifically for expecting mothers. They have a range of products developed by a board of certified obstetrician to treat problems related to the physiological, bodily, and hormonal changes experienced by mothers during the time of their pregnancy. The products available contain natural and herbal ingredients which are very beneficial to expectant mothers. The products available has been tested and verified for allergy and specific reactions to give best results. It has a line of products which has stood a test of times and has been of real help to many expectant mothers.

Beaute de Maman products are even actually recommended by Hollywood moms and to-be-star moms. Some of the celebrities of Hollywood include Penelope Ann Miller, Charlie Sheen, Chyler Leigh, even Victoria Recano just to name a few. And the most important thing is that these products are very much affordable. Pregnancy demands a lot of care and it is always advisable to leave it in safe hands. Hence if you are Pregnant then don’t sit back, the best thing you can do for yourself and your baby is to order now the products of Beaute de Maman




                                                             

Chance for Mayawati to be a Hero

A top contender for the post of PM in next elections, Mayawati is a star in the eye of Media. It can be publicity brought by Media on its own or something which various departments of UP are publishing through the Newspaper but fact remains that’s she is visible almost every day. She is someone whom poor acknowledge as their messiah and Babus fear to give sleepless night. It is heard that she give surprise visit to many places and pull up the govt employees for bad administration or work.

Though we have heard many negatives about her too but fact remains that she is a force to reckon with. Its not easy to mentor a lawless state and being a head of it is a job in itself. UP is still considered to bad by elite due to lawlessness and the challenge remains to change the image so that some new investment can come into the state. Also the fact remains that crime would go away if more investments come just like it happened in Gurgaon.

There are many things which she can do or make others do that can sent a positive feelers throughout India. One such thing is a positive wave through the time of recession which can definitely give encouraging vibes about her image. Definitely the work has to start from periphery and then should move inward. Through numerous readings on web and through chat groups, the best she can do is to promote IT industry in periphery regions of Noida and Greater Noida. In times of recession companies are looking for places where they can get cheap space and Greater Noida is definitely such area. If accommodation/space can be provided cheaply than it can give a real challenge to place like Gurgaon and Noida.

On residential front it needs to act responsible just like DLF. A lot of premium has been charged to allotees of rater Noida Schemes like BHS-08, BHS-09 and consecutive housing schemes. The people are really crying out because money has been paid in lump sum and they are paying huge Interest on top it. Mayawati has chance to be Hero by showing her responsibility the way DLF has shown. Just by reducing the price and returning the money to investors, would show huge favor for all those allotees who has shown interest in Grater Noida. Bank was not allowed to finance the project and HDFC and LIC secretly through adjustments with GNIDA provided financing (this blog has raised question on such alliance). Not only Prices can be reduced but people should be given an option to shift loan to Public Sector banks. A lot of members of such housing schemes has presented a memorandum and are fighting for their rights with head of GNIDA but its of no use. Again only one person can show her magic here and that is Mayawati.

We hope she would intervene and uplift Greater Noida as a place to be in future. Also we hope that she would help 1000+ allotees of Greater Noida Housing Schemes like BHS-08, BHS-09 whose voices are not being heard today even by the cash rich GNIDA. If concessions can be given to cash rich companies like Unitech and BPTP then why not common man.


                                                             

SBI has waived off processing fee for approved projects

Another good news in markets- For all the projects which are approved by SBI, they have waived off the processing fee. People who have applied for the loans through SBI has got their cheque back. This is definitely a wonderful gesture at time when almost all banks have increased their processing fee to almost double the amount than previous year.

SBI is definitely making waved in real estate market. In Kolkata it has tied up with three builders and has made builders pay the interest amount till possession of their properties. These moves are definitely not easy to ignore in banking circles and are forcing other banks to think on same lines too. Loan approval process of SBI is definitely strict and long but this is done only to ensure that risk gets managed properly.

SBI has definitely challenged the old paradigm and have forced its competitors to think. The irony is that only Public sectors banks are being moved by such moves while private sector banks are almost reluctant to do so. This is the time when issues which are clearly visible should be solved in the interest of general public. While risk control is important but it is also important to reward the customer with good track record even if they have taken loan from private banks.

Is someone Listening????


                                                             

HDFC Home Loan - Prepayment Penalty increased from 2% to 3%

SBI and other Public Sector Banks has given a real blow to its competitors. HDFC which is market leader in Home Loan segment cannot be seen more frustrated and terrified than these days. HDFC has done everything to fool the investor and the last straw is giving them financial blow in form of increase in prepayment charges.

This NBFC is real laughing stock in its own offices too. The visible shattered Mr. Deepak Parekh could not hide his frustration and blasted against SBI low rates in national channels. The frustration is now in open and people can see it much clearly than ever. HDFC did almost everything to attack the move by SBI

1) To start with its agents started a campaign telling prospects that how SBI loan is mere an eye wash based on amortization schedule. It did not worked.
2) Secondly they played with rates which SBI would charge after 1 year, which did not worked either because SBI rates historically has been much low compared to most of the banks.
3) Finally you could see its agent really begging to customer with no argument left on their side.

HDFC frustration is evident in recent days because enquiries has increased in its offices related to shifting of home loan. You would be lucky if you get an answer from them because it seems that they have sent all their customer care officials on a paid leave. Well atleast 4 mails and lots of bad words has not given me an answer about my principal and documents available with them.

The last ditch effort is to increase the prepayment penalty from 2% to 3% in case you are shifting loan to another Bank. Yes this has happened and HDFC did not cared to inform anyone. This is solely done to show how shifting loan would bring the whole transaction to a loss rather than a profit. Such a monopolistic attitude will be tolerated in India because rules merely don’t work here or are non-existant.

HDFC is very prompt and almost the first bank to increase the rate everytime they see an opportunity. But reverse is not true as they are never as eager to reduce them. So the plot here is that they will tell you the rate is 10.75% above 30 lakh loan. If your paper looks good and branch head see that you are eligible then you will get a call or sms saying that they have reduced rate to 10.5%. You would be happy to hear that but after 3 or 6 months your rates would be increased to all time high. Poor India fellas have no option but to live with it (now with penalty of 3%).

I think this rate war has some serious connotations which if studied clearly can help the strategist a lot. Few of them are
1) With low rate people have stormed to SBI for transferring their loan. Definitely there must be many credible people who would want to get away from clutches of greedy banks like HDFC. This is a clear loss of banks like HDFC because if the person application gets approved (SBI have stringent measures) than they would lose a good customer. So a drain of good portfolio of loans
2) Real Estate market can go up only when people who have bought house is given a capability to buy more. Yes they are risk taking individuals and know how to rotate money. If we can bring down rate of existing customers than it will give a real estate market a real push. These are the people who have seen the world, have gone through processes and understand how to play it. You cannot expect new customers in market when the market in itself look scary. Only people who can perform here is the seasoned ones.
3) If banks like HDFC did not bring its rate low for existing/new customer than their portfolio would soon tilt towards the bad ones. One might think that its thing of distant future but the seed has been sown. Today only those customers are coming to such banks who have been refused loan from banks like SBI.

I believe HDFC and other banks owe to India much more than anyone. They have bigger role to play in bringing economy back rather than thinking about their fat paychecks. Time has come for such banks to get in line otherwise the situation has a potential to embark a severe impact to its market share.

In last two weeks 3 of my friends have initiated discussion with SBI and are in last stage. The other two known people could not get response from HDFC due to their poor customer service or frankly “Vicious Tactics”.