What is the effective method of teaching?

As a teacher, you must ask yourself, "Have the pupils grasped the lesson alright? Which subject has to be taught in which way, and through which method?” These problems should bother you as a teacher. Moreover you should conduct yourself just in the same manner as you advise and expect the students to behave. When they are taught the lessons through love, their reverence for the teacher will also deepen. Each teacher should strive to encourage the all-round development of the student. You must expand your heart through love, and not waste the years of your life in furthering your own interests.

SOCH VICHAR: Traveller cheques are now outdated ..................

SOCH VICHAR: Traveller cheques are now outdated ..................: "I approached my bank for traveller’s cheques (TCs) as I am going abroad on a holiday. Instead, it advised that I should carry a prepaid card..."

SOCH VICHAR: I’m C2 and Fat-free

SOCH VICHAR: I’m C2 and Fat-free: "I’m C2 and Fat-free Several years ago I heard about a fellow who returned a phone call and when the phone was answered the response was, ..."

SOCH VICHAR: Explore NPS for good returns on retirement

SOCH VICHAR: Explore NPS for good returns on retirement: "Explore NPS for good returns on retirement For the unorganized sector, retirement plans are even more difficult and hence you need to com..."

Explore NPS for good returns on retirement

Explore NPS for good returns on retirement

For the unorganized sector, retirement plans are even more difficult and hence you need to come up with a good strategy to ensure you have your retirement funds in place. This article touches upon the impact of new pension schemes (NPS) introduced by the government and the latest developments that have taken place in retirement plans. New Pension Scheme (NPS) What is a NPS? NPS is similar to Mutual funds. You keep aside some money for your retirement and this money is put into the capital market. Hence, the sum which you will get post retirement will be dependent on the performance of capital market. These are managed by fund managers. Currently 6 fund houses appointed by the government are available under NPS. These are SBI Pension Funds Private Limited, UTI Retirement Solutions Limited, ICICI Prudential Pension Funds Management Company Limited, Religare Pension Fund Limited, IDFC Pension Funds Management Company Limited, and Kotak Mahindra Pension Fund Limited. There are 3 schemes available under NPS which is: Fund E: If you invest in this fund, then a portion of not more than 50% of your invested money will be put into equity. You should consider investing in this retirement plan only if your risk appetite is high as up to 50% of your money will be linked to the performance of equity. Fund C: if you invest in this fund, then all of the money will be put into fixed income instruments like corporate bonds and government securities. You should consider investing in this fund if your risk appetite is medium as corporate bonds are not that risky. Fund G: In this fund, all of your money will be invested in government securities. Hence, this is suited for you if you want it to be an almost risk free investment. You can choose to invest in any of these funds or you can invest in a mix of these funds. If you are not able to choose between these funds then your contributions will be invested in a fund with 15% in equity, 45% in corporate bonds and 40% in government bonds. However with increase in age after 35 years, the government bond exposure will increase with a maximum limit of 80% and 10% each in equity and corporate bonds. To ensure you avail the scheme you should compulsorily contribute at least Rs 500 per month. Amendments Proposed For Workers In Unorganized Sector The government has proposed to roll out a ‘fixed income pension’ plan to the workers in the unorganized sector. This will be done in three steps. Firstly, the monthly contributions you make will be invested as per NPS guidelines. Secondly, state funds for old age savings scheme will be added to this. Thirdly, if any gap exists between the sum guaranteed and sum generated from the above two steps then the central government will provide the requisite fund. The new plan will be started off initially in states like Haryana, Karnataka and Andhra Pradesh which are known to be quick in implementing government schemes. However this amendment is only meant for workers in the unorganized sector. Central and State government employees will continue to get pension through NPS. Tips for Employees If you are planning to save for your retirement then you should avail NPS as the fund management charges are very low which is 0.0009% compared to 1.5% – 2.5% for mutual fund or insurance products. Currently, NPS does not offer any tax exemptions unlike other retirement plans. It falls under the category EET (exempt-exempt-tax) system which means that maturity benefits you receive post retirement will be taxable. However, with DTC replacing the current tax code, NPS will be tax exempted upon withdrawal too. Therefore, you should avail this scheme when DTC comes into place. You can also make weekly contributions in NPS. But for every contribution, your transaction cost will increase. Hence, it is better to keep some money from your monthly compensation and contribute it to NPS once in a month. As compared to other retirement plans like (Employee provident fund) EPF, the returns are better. Currently, EPF gives 8% interest rate. However, investing in NPS will earn you much better returns because of the equity portfolio of the scheme. To conclude, NPS should be given serious consideration as a possible scheme for accumulating your retirement funds as it is comparatively a much better scheme in the market currently. It has earned an impressive average return of 19.5% which makes sense of ploughing back some money in the capital market. For the unorganized sector, amendment proposed by the government will ensure you get an assured sum post retirement.

I’m C2 and Fat-free

I’m C2 and Fat-free

Several years ago I heard about a fellow who returned a phone call and when the phone was answered the response was, “286-7495.”  The gentleman replied, “Yes, I’m returning Mr. Anderson’s call,” and the operator said, “Who is this?”  He responded, “233-9191.” It seems to be true that many people have become mere numbers in our non-caring, technological world.  This was brought home to me recently when I checked in at the gate for one of my numerous flights.  When I showed my ticket with the boarding pass to the gate agent, he picked up his microphone and said to the flight attendant aboard, “C2 is here.”  What he meant was simply that I had seat C2 and was now aboard. I kind of laughed and said to the fellow, “Well, that’s the first time I’ve been identified as a seat number.”  He smiled as I walked aboard the airplane where I sat down and we took off.  When meal-time came, the flight attendant began listing the menu choices for the passengers.  When he got to me I said, “I believe I have a special meal.”  He turned to another attendant and said, “Fat-free is here.”  Since I prefer to be called Zig, I’m glad the names C2 and fat-free did not stick. I find it to be amusing and yet, in a strange way, a little sad that we’ve reached that point in life when we can so casually deal with each other as a number or a letter.  That’s especially true at this time in our history when mergers, downsizing, rightsizing, buy-outs, early retirement and bankruptcy have created stress and fear in the marketplace. Today, people need hope and encouragement, combined with genuine care and concern from those with whom we deal on a regular basis.  When we pay our bills with a check or credit card, we like to be called by name.  I’m not “C-2? and “fat-free,” I’m a human being – and so are you.  So let’s treat each other that way

Traveller cheques are now outdated ...............NEW CONCEPT.......... PRE-PAID CARDS...........Vs CREDIT/DEBIT CARDS

I approached my bank for traveller’s cheques (TCs) as I am going abroad on a holiday. Instead, it advised that I should carry a prepaid card. Why is it not advisable to carry TCs or credit and debit cards? How do prepaid cards work, and are these beneficial? Are these also available for domestic travel?

Travel cards are foreign currency prepaid cards that are accepted at more than 9,00,000 VISA/MasterCard-enabled ATMs and over 20 million point-of-sale (POS) terminals worldwide. They can be used to settle hotel bills, pay for airline tickets, shop, etc.

Travel cards are a much superior alternative to TCs, as the latter are available in fixed denominations and can be encashed only with money-changers.

Travel cards are a better alternative to foreign currency cash, as these ensure a high level of convenience and security. Also, there is no way of salvaging cash, if lost/stolen. The card, if lost, can be blocked, and the amount can be protected and a replacement card taken.

In debit and credit cards, the customer is exposed to the exchange risk every time he/she uses the card. In travel cards, the rate gets locked at the time of purchase of the card (in India). Also, if a debit or credit card is compromised, the full account/limit is at risk. In travel cards, the risk is limited to the amount loaded. Debit and credit cards usually have very low daily transaction limits for ATM (cash withdrawal) or POS, which are often not sufficient internationally. Travel cards are normally not available for domestic travel.

Recently, I redeemed my mutual fund investments and received Rs 8 lakh. Prior to this, I had applied for a personal loan of Rs 6 lakh, which got approved a week back. Since I have enough cash in hand after redeeming the mutual fund units, can I cancel my loan or lower the quantum of the loan? What is the process?

If the loan requested has been approved by the bank and not availed of, the customer has the option of either cancelling the request or seeking a reduced amount. Accordingly, the loan will either be cancelled or a revised loan amount approved.

My son is pursuing his higher education in the US. He took an education loan for which I am the guarantor. His university grants scholarships to students, based on their first semester performance. He has been chosen for it. With the scholarship, his loan requirement has reduced substantially. Can we request the bank to reduce the loan? If yes, will we be penalised?

In education loans, the interest is charged only on the outstanding amount (amount availed). In case the loan is not fully availed, the remaining loan amount will only be disbursed when you request the bank (according to your new requirement). Thus, there is no need to modify the sanctioned limit and reduce the loan amount.

However, when your son finishes his education and decides to repay the loan in equated monthly instalments (EMIs), he/you will have to approach the bank with a written request to schedule the EMIs according to the reduced loan and not on the basis of the sanctioned amount. There will be no penalty.