Tuesday 31 July 2012

Swami Vivekananda Quotes on Astrology

MAN THE MAKER OF HIS DESTINY


 We may be under planetary influence, but it should not matter much to us. Buddha says, "Those that get a living by calculation of the stars by such art and other lying tricks are to be avoided"

“Astrology and all these mystical things are generally signs of a weak mind; therefore as soon as they are becoming prominent in our minds, we should see a physician, take good food, and rest.”


Swami Vivekananda

>There was a very powerful dynasty in Southern India. They made it a rule to take the horoscope of all the prominent men living from time to time, calculated from the time of their birth. In this way they got a record of leading facts predicted, and compared them afterwards with events as they happened. This was done for a thousand years, until they found certain agreements; these were generalized and recorded and made into a huge book. The dynasty died out, but the family of astrologers lived and had the book in their possession. It seems possible that this is how astrology came into existence. Excessive attention to the minutiae of astrology is one of the superstitions which has hurt the Hindus very much.
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>There is an old story of an astrologer who came to a king and said, “You are going to die in six months.” The king was frightened out of his wits and was almost about to die then and there from fear. But his minister was a clever man, and this man told the king that these astrologers were fools. The king would not believe him. So the minister saw no other way to make the king see that they were fools but to invite the astrologer to the palace again. There he asked him if his calculations were correct. The astrologer said that there could not be a mistake, but to satisfy him he went through the whole of the calculations again and then said that they were perfectly correct. The king’s face became livid. The minister said to the astrologer, “And when do you think that you will die?” “In twelve years”, was the reply. The minister quickly drew his sword and separated the astrologer’s head from the body and said to the king, “Do you see this liar? He is dead this moment.”

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I was once traveling in the Himalayas, and the long road stretched before us. We poor monks cannot get any one to carry us, so we had to make all the way on foot. There was an old man with us. The way goes up and down for hundreds of miles, and when that old monk saw what was before him, he said, “Oh sir, how to cross it; I cannot walk any more; my chest will break.” I said to him, “Look down at your feet.” He did so, and I said, “The road that is under your feet is the road that you have passed over and is the same road that you see before you; it will soon be under your feet.” The highest things are under your feet, because you are Divine Stars; all these things are under your feet. You can swallow the stars by the handful if you want; such is your real nature. Be strong, get beyond all superstitions, and be free. [...]

Friday 27 July 2012

Idioms and phrases

Some Idioms and Phrases-

1) To make clean breast of ->To confess without of reserve

2) To keeps one's temper-To be in good mood

3) To catch a tarter- To catch a dangerous person

4) To drive home - To emphasise

5)To have an axe to grind -A private end to serve

6)To cry wolf-To give false alarm@ (To cry or complain about something when nothing is really wrong.)

7).To end in smoke -To ruin oneself

8)To be above board-To be honest in any business deal

9)To put one's hand to plough-To take a difficult task


10) To pick holes-To criticize someone

11).To smell a rat-To suspect foul dealings

12).To hit the nail right on the head -To do the right thing

13) To set one's face against -To oppose with determination

14)  To leave someone in the lurch -To desert someone in his difficulties

15)To play second fiddle -To support the role and view of another person

16)A black sheep -'Black sheep' is an idiom used to describe an odd or disreputable member of a group, especially within a family.

17) A man of straw-A man of no substance

19)To end in smoke-To ruin oneself

20) To be above board -To be honest in any business deal










Tuesday 24 July 2012

Know about Base rate?

RBI has proposed to replace the Benchmark Prime Lending Rate (BPLR) with base rates from 1 july 2010 . The base rate is the lowest rate that the bank can charge from a customer and is intended to bring about more transparency in the lending operations of banks.

How BASE RATE is calculated?

The Base Rate is computed by considering the following parameters

  • Bank’s cost of deposit (which is taken as the benchmark).
  • Negative carry on maintaining Statutory Liquidity Ratio (SLR) and Cash Reserve Ratio. (CRR)
  • Administrative expenses, which cannot be specifically attributed to any particular type of lending, and
  • Average expected return on capital employed for supporting the lending activities
The final lending rates have been arrived at by adding borrower specific charges, tenure premium, credit risk premium etc to the Base Rate.

The Base Rate and final lending rates will be reviewed / revised by the Bank at least once in a quarter

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Before setting the base rate system, banks used another rate system called Prime Lending Rate (PLR) to set their lending rates. The problem with this system is, banks manipulated this PLR to lower level to offer discounted lending rates for the borrowers. It may cause the loss for the banks if they offer loan with much cheaper price. The real intention of the RBI is to make the banking system much stronger after the global financial crisis.
The banks meet huge loss because of the default loans. The main reason is, when banks offer loans with cheaper price to lure the customers, most of the customers without adequate financial support too get the loans. It will end in default (can not repay the loans). Base rate system provides more transparency on setting the rates. Each bank use some criteria to set their base rates.
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What is Base Rate System?

As I have mentioned in the previous section, Base Rate System is for the banks to set a level of minimum interest rates charged while giving out the loans. This Base Rate System has many advantages over the older method of Prime Lending Rate (PLR).  One advantage is, in the Prime Lending Rate (PLR), one could sanction the loan for lower price for the preferred customer or the corporate bodies and retail customers may have to pay more for the same type of loans. In the base rate system, there will not be much variance on the loans.
However, the base rate system will not be applicable for the following type of loans:
  • Agricultural Loans
  • Loans given to own employees
  • Loans against deposit
  • Export Credit
Base rate system is arrived at taking into the account, the cost of deposits and cost of keeping aside cash to meet CLR and SLR. It is convenient for the banks to adjust the lending rates after the changes on policy rates by the RBI.

Unlike the BPLR that was set somewhat arbitrarily by banks, the base rate will follow an explicit formula that factors in a bank's cost of deposits, operating costs (expenses of running its branches, for instance), the cost of statutory drafts on bank funds imposed by the Reserve Bank of India (the Cash Reserve Ratio and Statutory Liquidity Ratio) and the profit margin.
The base rate will help borrowers to compare interest rates offered by various banks and make the process of how banks arrive at interest rates for loans more transparent.
RBI has stipulated that banks cannot charge below the base rate for most loans. (There are a couple of exceptions like agricultural loans and export credit.) While the new model will ensure greater transparency, it need not mean lower lending rates for borrowers.


Banking (Latest Updates)

Bank Rate                     :  9.00%

Repo Rate                    :  8.00%

Reverse Repo Rate      :  7.00%

Marginal Standing Facility Rate  :  9.00%

CRR                           :  4.75%

SLR                            :  24.0%

Base Rate               : 10.00% - 10.50%

Savings Deposit Rate  : 4.00%

Term Deposit Rate      : 8.00% - 9.25%