The Reserve bank of India (RBI) has released a data according to this industry and agriculture sectors have absorbed a larger amount of the total gross bank credit while in the personal loan segment it is limited also home loans and credit cards has shown decline.
The figure of loans given to the real estate sector is high as it includes all the loans given to the development of hospitals, educational institutes, hotels and commercial finance. The real estate industry has absorbed 47.4% of the total bank credit against 43.2 per cent a year ago.
On the other hand personal loans, such as housing, credit card outstanding, education, consumer durables, and advances against fixed deposits amounted to 7.6 per cent of the incremental non-food credit therefore shows limited lending in this segment. By the end of May, the total amount of personal loans has declined to Rs 29,266 crore as against Rs 72,777 crore a year ago.
According to M Narendra, executive director, Bank of India, “Credit absorption by infrastructure companies have been encouraging, we expect other segments to fall in line with the busy season in the second half. With the economic conditions improving and interest rates going down substantially, housing should see a revival this year. In fact, home loans have started improving, but credit cards are down as banks are cutting back on their losses”.
Steep rise in real estate prices in metros is also responsible for the dull demand home loan segment. By the end of May home loans stood at Rs 13,028 crore, whereas total home loans at the end of May 2008 amounted to Rs 31,735 crore. There was decline in the credit card outstanding by May-end which had come down to Rs 381 crore as against Rs 7,116 crore in the corresponding period a year ago.
However the education loans showed a substantial growth with the total outstanding of up to Rs 7,338 crore by the end of May 2008 from Rs 5,914 crore a year ago, the reason being most of the banks especially the public sector banks had aggressively increased their portfolios.
A decline was seen in the negative growth in consumer durable loans of up to Rs 300 crore at May-end as against Rs 534 crore at the end of May last year.
RK Bakshi, executive director, retail, Bank of Baroda explained, “The growth in credit deployment was lower in 2008-09 because of the economic slowdown in the normally busy season of second half of the year”. In fact the growth in loans to the commercial real estate, continued to be high. In May 22 the loans to the real estate sector had risen to Rs 32,321 crore from Rs 17,018 crore at the end of May 2008.
Friday 31 July 2009
Thursday 30 July 2009
Refusal of NAAS Registration by Northwest Assoc.
On July 27, 2009, the United States Patent and Trademark Office officially refused registration of the application submitted by Northwest Association of Accredited Schools. A brief summary of the official letters is below:
REFUSAL: LIKELIHOOD OF CONFUSION UNDER SECTION 2(d)
Registration of the applied-for collective membership mark is refused because of a likelihood of confusion with the mark in U.S. Registration No. 2334969 [NAAS]. Trademark Act Section 2(d), 15 U.S.C. §1052(d); see TMEP §§1207.01 et seq. See the enclosed registration.
Likelihood of confusion may arise from the contemporaneous use of a collective membership mark on the one hand and a trademark or service mark on the other. The same standards used to determine likelihood of confusion between trademarks and service marks also apply to collective membership marks. See 15 U.S.C. §1052(d); In re National Novice Hockey League, Inc., 222 USPQ 638 (TTAB 1984); Allstate Life Ins. Co. v. Cuna International, Inc., 169 USPQ 313 (TTAB 1971), aff’d, 487 F.2d 1407, 180 USPQ 48 (C.C.P.A. 1973); Boise Cascade Corp. v. Mississippi Pine Manufacturers Assn., 164 USPQ 364 (TTAB 1969). TMEP § 1304.08(b)
=============================
An NAAS Media Report is being prepared to document, discuss, and report the rejection.
REFUSAL: LIKELIHOOD OF CONFUSION UNDER SECTION 2(d)
Registration of the applied-for collective membership mark is refused because of a likelihood of confusion with the mark in U.S. Registration No. 2334969 [NAAS]. Trademark Act Section 2(d), 15 U.S.C. §1052(d); see TMEP §§1207.01 et seq. See the enclosed registration.
Likelihood of confusion may arise from the contemporaneous use of a collective membership mark on the one hand and a trademark or service mark on the other. The same standards used to determine likelihood of confusion between trademarks and service marks also apply to collective membership marks. See 15 U.S.C. §1052(d); In re National Novice Hockey League, Inc., 222 USPQ 638 (TTAB 1984); Allstate Life Ins. Co. v. Cuna International, Inc., 169 USPQ 313 (TTAB 1971), aff’d, 487 F.2d 1407, 180 USPQ 48 (C.C.P.A. 1973); Boise Cascade Corp. v. Mississippi Pine Manufacturers Assn., 164 USPQ 364 (TTAB 1969). TMEP § 1304.08(b)
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An NAAS Media Report is being prepared to document, discuss, and report the rejection.
Monday 27 July 2009
Loans are good or bad?
Most of us have taken loan but we don’t know how to classify the loans whether it is good or bad?
A loan which adds to your earning capacity or taken for increasing productive skills then it can be classified as good loan. In case a loan is taken to meet some emergency must not be classified because it is must it cannot be good or bad.
For classification of loan the purpose for which it is being taken is important. Therefore the other deciding factor is the cost.
The cost effectiveness of the loan is related to the purpose for which you are taking loan. The education loan taken for higher studies or the student is from poor family and cannot continue his school; this loan is classified as good because this will generate significant earning capacity in relation to their cost and are available at a low interest rate. On these loans there is tax reduction facility which reduces the post tax of the loan.
The second purpose can be loan taken to fund the cost of your own residence such as renovation or adding a floor. Usually the price of this asset increases in value and will be the source of pension income or retirement by means of reverse mortgage.
The third purpose can be to buy a vehicle reasonably priced. This can add up in your productivity which is getting low because of the bad condition of public transportation in most of the cities in India.
Another reason for taking loan can be for funding expensive/luxury consumer items. With the booming of malls there has been increase in the usage of plastic money which means more and more swipe giving rise to more and more debt.
Then the credit cards having high debt for longer duration can land you in a financial crisis. Thus the loan against credit card should not be more than 30-45 days, as bank charge high interest on this.
Some people take loan for tentative purposes such as for investment in stock market. This is not right this can put you in miserable situation. Whenever there is set back in the share market you might face a great loss, such situation came in the last fiscal year when there was global economic crisis.
Hence before taking loan keep in mind these points which can help you in taking the right decision.
A loan which adds to your earning capacity or taken for increasing productive skills then it can be classified as good loan. In case a loan is taken to meet some emergency must not be classified because it is must it cannot be good or bad.
For classification of loan the purpose for which it is being taken is important. Therefore the other deciding factor is the cost.
The cost effectiveness of the loan is related to the purpose for which you are taking loan. The education loan taken for higher studies or the student is from poor family and cannot continue his school; this loan is classified as good because this will generate significant earning capacity in relation to their cost and are available at a low interest rate. On these loans there is tax reduction facility which reduces the post tax of the loan.
The second purpose can be loan taken to fund the cost of your own residence such as renovation or adding a floor. Usually the price of this asset increases in value and will be the source of pension income or retirement by means of reverse mortgage.
The third purpose can be to buy a vehicle reasonably priced. This can add up in your productivity which is getting low because of the bad condition of public transportation in most of the cities in India.
Another reason for taking loan can be for funding expensive/luxury consumer items. With the booming of malls there has been increase in the usage of plastic money which means more and more swipe giving rise to more and more debt.
Then the credit cards having high debt for longer duration can land you in a financial crisis. Thus the loan against credit card should not be more than 30-45 days, as bank charge high interest on this.
Some people take loan for tentative purposes such as for investment in stock market. This is not right this can put you in miserable situation. Whenever there is set back in the share market you might face a great loss, such situation came in the last fiscal year when there was global economic crisis.
Hence before taking loan keep in mind these points which can help you in taking the right decision.
Saturday 25 July 2009
SPAM Attack
An apparent Spamster has attempted an intrusion into the NAAS Network on Saturday, July 25, 2009, at 12:54AM, PDT, and appears to be impersonating an NAAS.ORG email address.
The person can be traced to the following IP Address:
68.99.154.245
Consumers are being told to click on the following link:
http://accedomedia.com/enterpage.html
Email addresses that purportedly received the email message are as follows:
admischat@ucmail.uc.edu, artsci.admission@uc.edu, artsci.advising@uc.edu,
dragonfaeriegodess04@yahoo.com, judith_myers@ohionational.com,
punkrock_fairy030303@yahoo.com, feerc@asmail.artsci.uc.edu, staff@naas.org,
financeaid@uc.edu, cpsnotify@cpsemail.ed.gov, adminmar@ucmail.uc.edu
The link is a fraud that appears to be designed by a person associated with an organization backed by Professors don jordan, and joan mccoy.
The person can be traced to the following IP Address:
68.99.154.245
Consumers are being told to click on the following link:
http://accedomedia.com/enterpage.html
Email addresses that purportedly received the email message are as follows:
admischat@ucmail.uc.edu, artsci.admission@uc.edu, artsci.advising@uc.edu,
dragonfaeriegodess04@yahoo.com, judith_myers@ohionational.com,
punkrock_fairy030303@yahoo.com, feerc@asmail.artsci.uc.edu, staff@naas.org,
financeaid@uc.edu, cpsnotify@cpsemail.ed.gov, adminmar@ucmail.uc.edu
The link is a fraud that appears to be designed by a person associated with an organization backed by Professors don jordan, and joan mccoy.
Friday 24 July 2009
Personal loan ideal for short term need
Personal loan is a unsecured loan and can be taken for certain purposes such as for renovation of house, to meet medical expenses, foreign travel, marriage expenses, purchasing consumer durables, higher education etc. But personal loan has set of advantages and disadvantages attached to it. The main advantage of a personal loan is the flexibility as it can be used for any purpose. Even the application process is comparatively simple with minimal documentation requirements. As the loan is unsecured thus there is no need for any kind of security or guarantor.
Although it appears to be good but these loans are quite difficult to acquire exclusively as these are unsecured. To get this loan the eligibility criteria depends upon the applicant’s income credit history with regard to any other loans and repayment capacity. The interest rates offered on these loans can vary between 15-25 percent depending on the credit profile, income level, and nature of employment of an applicant. If bank find a higher risk in lending to an applicant it might not sanction the loan or charge a high interest rate together with additional security in the form of a personal guarantee.
The loan amount to be sanctioned generally depends on personal income along with other factors like age, profession, education and repayment capability if any other loans have been taken etc. All these factors are also taken into consideration for setting the interest rates. For instance the interest rate might be lower for a person working with a reputed firm as compared to a self-employed person. The tenure for repayment of loan is normally between 12 and 60 months. Generally these loans are not sanctioned for more than five years.
The EMIs are calculated for the repayment of the loan and if a person wants to do prepayment of loan a penalty is charged. The processing fee might be calculated as a percentage of the loan amount for the documentation and verification formalities. Before signing on dotted lines one must study terms carefully whether there are any additional charges or penalties.
Some banks might set flat rates for personal loans. Apparently the rates might look lower than even the current home loan rates. But in actual the flat rate do not reflects the actual cost of the loan. Indeed the effective rate is much higher. It is included in the EMI and person pays it on a reducing balance basis. For instance a loan of Rs 1 lakh figured out at a flat rate of 12 percent with an EMI of Rs 3,800 for 36 months in fact is worked out to an effective interest rate of 22%.
Approximately the total interest of Rs 36,800 works out to a yearly interest of Rs 12,226 and in the same way the rate of 12 percent is quoted. This will be correct in case a person is paying onetime interest at the end of the tenure of the loan. EMIs are calculated from the first month on the principal outstanding, the interest is normally charged at 22%. Therefore check for flat rates of interest carefully and always choose for reducing balance rates. The right approach would be to take loan when there is dire need to do so. Although personal loans are easy to get but one should not burden him unnecessarily with high interest debt without a convincing reason.
Although it appears to be good but these loans are quite difficult to acquire exclusively as these are unsecured. To get this loan the eligibility criteria depends upon the applicant’s income credit history with regard to any other loans and repayment capacity. The interest rates offered on these loans can vary between 15-25 percent depending on the credit profile, income level, and nature of employment of an applicant. If bank find a higher risk in lending to an applicant it might not sanction the loan or charge a high interest rate together with additional security in the form of a personal guarantee.
The loan amount to be sanctioned generally depends on personal income along with other factors like age, profession, education and repayment capability if any other loans have been taken etc. All these factors are also taken into consideration for setting the interest rates. For instance the interest rate might be lower for a person working with a reputed firm as compared to a self-employed person. The tenure for repayment of loan is normally between 12 and 60 months. Generally these loans are not sanctioned for more than five years.
The EMIs are calculated for the repayment of the loan and if a person wants to do prepayment of loan a penalty is charged. The processing fee might be calculated as a percentage of the loan amount for the documentation and verification formalities. Before signing on dotted lines one must study terms carefully whether there are any additional charges or penalties.
Some banks might set flat rates for personal loans. Apparently the rates might look lower than even the current home loan rates. But in actual the flat rate do not reflects the actual cost of the loan. Indeed the effective rate is much higher. It is included in the EMI and person pays it on a reducing balance basis. For instance a loan of Rs 1 lakh figured out at a flat rate of 12 percent with an EMI of Rs 3,800 for 36 months in fact is worked out to an effective interest rate of 22%.
Approximately the total interest of Rs 36,800 works out to a yearly interest of Rs 12,226 and in the same way the rate of 12 percent is quoted. This will be correct in case a person is paying onetime interest at the end of the tenure of the loan. EMIs are calculated from the first month on the principal outstanding, the interest is normally charged at 22%. Therefore check for flat rates of interest carefully and always choose for reducing balance rates. The right approach would be to take loan when there is dire need to do so. Although personal loans are easy to get but one should not burden him unnecessarily with high interest debt without a convincing reason.
Tuesday 21 July 2009
NAAS Applicants Must Attend NAAS-Approved Schools
There is a new policy now in effect for NAAS Award applicants. There is no fee for students who attend schools that have purchased an NAAS Discount License, or that are NAAS-Approved.
Students attending schools or institutions that have purchased an NAAS Discount License may apply without any fees; students attending unaccredited 'NAAS' schools will be charged fees.
This new policy is now in effect due to numerous schools falsely claiming 'NAAS Accrediation' status.
We recommend that all NAAS Award participants use our online form at http://naas.org/
There is no need to to purchase costly U.S. postage stamps, or have your valuable correspondence subject to control by U.S. Postal employees.
For more information about how to purchase an NAAS Discount License, please refer to NAAS Licensing Information page
Monday 13 July 2009
David Steadman Investigated for Perjury
David Steadman, who is desperately seeking to be associated with the world-famous, prestigious, and internationally known 'NAAS' trademark made famous by the founders of National Academy of American Scholars, is under investigation for perjury.
Mr. Steadman, and his group of fake 'NAAS' affiliates, have been the focus of several NAAS NEWS Media reports concerning their illegal, unauthorized, and inappropriate use of the the 'NAAS' mark.
According to certified records obtained from the U.S. Patent & Trademark Office, David Steadman personally submitted a document to that agency that was signed under penalty of perjury. The statements made by David Steadman contradict federal records, and public facts. Accordingly, legal options include pursuing civil and criminal charges, including a federal charge of perjury.
Mr. Steadman is the apparent President of Northwest Association of Accredited Schools. The organization has underwent several name changes over the years, but has recently settled on the latest (Northwest Association of Accredited Schools) because Mr. Steadman incorrectly believes that this deceitful arrangement of names and words will justify trademark/copyright infringement.
Clearly, Mr. David Steadman is a very desperate man. Who is more desperate: a criminal being chased by the police down a dark alley corridor, or David Steadman trying to out run or out maneuver U.S. Trademark/copyright laws? David Steadman is leaving no stone untouched. The State Education Dept. of Idaho is the biggest collaborator of Steadman. An investigation of the unethical and neo-Nazi backgrounds of certain employees of that agency seem to provide an explanation for the insanely defiant conduct of certain of its partners. Hey Dave: is it too much to ask for you to be a decent American and follow the law??
David Steadman and his group have little or no respect for U.S. federal laws, and appear to have a financial arrangement from Russian operatives. The connection to Russia is disclosed on their website.
For more information about Northwest Association of Accredited Schools, and its relationship to the Idaho Dept. of Education, please review NAAS NEWS Media reports at http://www.naas.org, or http://www.naas-news.info/
Monday 6 July 2009
Special Invitation (NAAS Discount license)
We are currently offering institutions and online schools claiming to be accredited by Northwest Association of Accredited Schools the opportunity to purchase a renewable NAAS discount license of $50.00.
This fee allows the affected school or institution the ability to display the 'NAAS' mark on their respective website for a period of 12 months.
If the fee is not paid, then such school or institution will continue to be publicly defined subject to NAAS EAS/N2 Rules, including the option of labeling said institution as a Criminal Institution; its employees may be subject to additional public charges.
Moreover, any student attending such an illegal or unlicensed school that applies for an NAAS Award may not be viewed favorably by members of the NAAS Select Committee.
Rather than attempting to cheat the process, or continue to be publicly battered with allegations of U.S. Copyright/Trademark violations, we urge affiliates of Northwest Association of Accredited Schools to act ethically, and responsibly by purchasing an NAAS Discount license.
NAAS License (for companies and persons of good repute)
Is your school or intitution being run by a Bernie Madoff type character? Are you trusting your legal matters (Copyright/trademarks) to copy-cat persons? All persons or companies of good repute are urged to seek an official NAAS License.
We urge all persons and companies that believe themselves to be persons or companies of good repute, upstanding honor and integrity, to apply for and purchase an NAAS License; alternatively, the purchaser of an NAAS license need not be an active licensee, but may be a passive licensee, which means the company or person is not obligated to even display the NAAS mark on their respective website, or use the 'NAAS' mark on their company literature.
Assuming you have not yet been formally served with a civil suit, or a criminal complaint, this offer extends to all persons and companies currently depicted in any NAAS-NEWS report, or any person/company currently displaying the NAAS mark without valid authorization in violation of current U.S. Trademark/Copyright laws.
The application, approval, and purchase of an NAAS License may validate the good standing, and ethics of that person and/or company. Such facts will certainly be taken into account and reflected in our reporting, NAAS NEWS Videos, etc.
Wednesday 1 July 2009
Payment of EMIs taking up most of the salary of metro cities employees
In a recent survey conducted by Assocham it was found in metro cities most of the take-home salary of an average employee is consumed in repayment of car, housing and personal loans and is left with just about 40 per cent of his earnings.
According to the report of the survey of 5,000 employees, "Take-home salary of average employee in metros and large townships has gone down to 40 per cent from 70 per cent around 1999".
The employees from the sectors of IT, Automobile, Hospitality, Civil Aviation, Manufacturing, Gems and Jeweler are feeling the maximum pinch of EMIs from the
Assocham Secretary General D.S. Rawat pointed out, "In an average salary structure of Rs 25,000 per month, the take-home part is not more than Rs 10,000 as average employee shells out over Rs 6,000 on housing loan, Rs 5,000 loan on auto, Rs 1,500 on luxuries item".
He added each month share of insurance premium amounts to be over Rs 2,500 and said over 30 per cent of employees pay out about Rs 5,000 in repaying the office loan advance taken for various reasons like construction, education and marriage.
About half of them informed at present their take-home salary is not more than 40 per cent of their total package so they are left-over with 10,000 which is spent on food, commuting costs, utilities, doctor and education bills.
According to the survey report middle class has suffered the most. It added, "Panic and depression have gripped home-loan borrowers among them particularly".
According to the report of the survey of 5,000 employees, "Take-home salary of average employee in metros and large townships has gone down to 40 per cent from 70 per cent around 1999".
The employees from the sectors of IT, Automobile, Hospitality, Civil Aviation, Manufacturing, Gems and Jeweler are feeling the maximum pinch of EMIs from the
Assocham Secretary General D.S. Rawat pointed out, "In an average salary structure of Rs 25,000 per month, the take-home part is not more than Rs 10,000 as average employee shells out over Rs 6,000 on housing loan, Rs 5,000 loan on auto, Rs 1,500 on luxuries item".
He added each month share of insurance premium amounts to be over Rs 2,500 and said over 30 per cent of employees pay out about Rs 5,000 in repaying the office loan advance taken for various reasons like construction, education and marriage.
About half of them informed at present their take-home salary is not more than 40 per cent of their total package so they are left-over with 10,000 which is spent on food, commuting costs, utilities, doctor and education bills.
According to the survey report middle class has suffered the most. It added, "Panic and depression have gripped home-loan borrowers among them particularly".
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