Showing posts with label miscellaneous. Show all posts
Showing posts with label miscellaneous. Show all posts

Sunday, January 5, 2020

Starting 2020


Writing book reviews has never been my strength. In 2020, the aim is to write something about every book that I read through. It could be a review, learning, or even summary of these books.

Keeping up with the motto of living a creative, foolish, and generous life.  

Also, this would be the year of keeping tab of the number of books read. 

Thursday, November 10, 2016

Why I disagree with Demonetisation!

I guess by now most people in India would have learnt and been aware of the term 'de-monetization'.

For those who are not, allow me to explain in simple terms. De-monetization means banning a currency or banning a specific denomination of currency. So when Germany gave up its currency to use Euro then it was de-monetization and when in India the higher denomination currency of Rs 500 and Rs 1000 was demonitized then it was banned from 9th of November 2016.

Most people are very upbeat about it. I will not go not their reasons but you can read here, here,
some believe it was too soon like here and some think that it was wrong like here, etc. (the rest you can search on google if you want to read about it).

The reason I think it was wrong was because it wasn't thought through. I think demonetization was stage 6 or 7 among the financial reforms, more like the last step to integrate the country and we jumped to it at number 3.

  1. Jan dhan yojna and opening of account
  2. Payment banks
  3. Declaration of black money
  4. GST implementation (1 year)
  5. Change in tax law so that digital transaction is taxed lower and cash is taxed higher. (implement it for 6 months to 1 year)
  6. Bankruptcy laws are made stronger and real estate laws are also implemented
  7. Ban higher currency like Rs 1000 and Rs 500. (The reason shouldn't be to bring in new notes, etc. but it should be to digitize the currency.) Around the same time all airports/banks/currency-exchange shops should have a prepaid card for tourists. 
While intention (black economy) behind this may have been correct. It is my belief that this measure is merely a temporary shock, which will mostly affect the 'not so smart' government officials; small level businessmen; and the village/small town people who don't have banks and facility of electronic transaction. History shows despite such measure being taken in the past -- Quartz, The Quint and Mint -- as we still had the problem in 2016. And besides the government has already announced that it will bring in new notes of Rs 500 and Rs 2000, hence it would be a matter of time when people will bring this stack to the parallel economy.

The reason I believe, that demonetization should have been done after digitalisation had reached beyond the top 20 cities is because then it would be clear that large transaction is something that should be done in electronic form. Then a crack-down would have been less costly and more effective. Mint has done a wonderful story on  the cost of demonetization. 



And I am interested to know what are other citizen's story. 

My maid has a problem she doesn't have any cash and we are also tight on the cash aspect so my flatmate has instructed the maid to let us know what all she requires at home and we will get it from bigbazaar or a bigger shop that uses debit card facility.

Heard from a friend: Someone was about to get married on Sunday, and hence was going to pay all his vendor in cash, but now is sitting on 500/1000 notes and he will have to go to the bank once it opens to change all currency and also explain why he has so much of cash. 

Thursday, February 12, 2015

Why should Greece affair be closely monitored

PLEASE NOTE: This is merely my personal opinion.

I came across this interesting article where Mohamed A. El-Erian (erstwhile CEO and co-CIO of PIMCO) says that American's should take note of Greece in the following article -- Click to read.

For over a month now, I have been interacting with various market experts and the general opinion I see is everyone believes that Greece is no threat. Because it doesn't have options. If Greece tries to go back to drachma, then there will be no takers and the country will fall into an abyss of depression.


Wednesday, December 31, 2014

Learning Finance the Fun Way

Learning about finance even if it concerns the individual themselves is perhaps the most boring thing but at the same time it is most important. “If an individual is financially literate then they are more aware of the financial opportunities that comes there way,” says Kalpesh Ashar, a SEBI registered investment advisor, Founder of Full Circle Financial Planning.

Ashar explains, “Like everything financial services has also evolved with time. The notion of savings and investments has changed from our forefather’s time to what we witness today. That has achieved a crucial prominence in today’s time. Be it any profession, financial knowledge also helps define the quality of life that we will lead.” In today’s time financial knowledge and financial literacy are a must. 

“Understanding personal finance is very minimalistic in India. Our research showed that most people are not even aware of the difference between investment and savings,” says Juzer Tambawalla, VP & Head Marketing Communication, Franklin Templeton AMC. India is a cricket loving nation, therefore Franklin Templeton Mutual Fund took an initiative to bring the language of investing to the masses through its game called ‘FundtasticCup’. A virtual game where the terminologies of cricket has been used to create a quiz format game with a focus on helping the participants learn about the investment.

The trend world over is not very different. Jason Alderman, Vice President of global financial literacy at Visa Inc. says, “Visa understands that teaching consumers about money through ‘edutainment’ or ‘gamification’ is an effective means of demystifying a complicated subject by using the compelling and familiar medium of video games to learn while having fun.” Explaining further, he says, as part of Practical Money Skills for Life, Visa created a suite of educational games – just one component of the resources Visa offers to help teach people all ages about personal finance management. In addition to the many other popular games, Visa leveraged its partnership with the United States’ most popular sport, and created the NFL themed Financial Football.  We also partnered with the world’s most popular sport and created a financial literacy game with FIFA, Financial Soccer. 

Another game from the financial domain on the website Zapak.com is called ‘game for a money’. It’s a game where you get virtual cash which you can allocate across financial products and investment like mutual funds, insurance, house, stocks etc. then the player will roll the dice and the character will walk that many squares on the board. The place where the player stops will describe a situation like the stock market has fallen or gained hence the portfolio shows that much of gain. Or you have to repair the house and accordingly your money will be spent or your portfolio will move. The game has some inherent flaw. While asset price is random that one gets to see but our choice of expenditure is always that of an individual, which the game doesn’t allow. So just because the board says you have spent on luxury, the account shows a deduction.

Financial literacy is high in US but at the same time one should notice the effort put into it. For example, Visa partners with leading consumer advocates, government officials, educators, and financial institutions, to make a successful education campaign.  “We have currently partnered with banks for hundreds of cobranded websites, with Federal Reserve Bank of Chicago for the annual Financial Literacy Summit which is in its 9th year, and with more than 45 state governments for game launches, and internationally with other non-profits for co-branded websites and games,” says Alderman of Visa. 

Learning finance by doing it is perhaps the best way to pick it up. This emphasis can be seen in the games supported by financial institutions in US. They are highly interactive and diverse. While some follow a narrative approach wherein as the game progresses so does the story; meanwhile others look at creative ways to engage be it through computer or mobile (see The List). Though the two games focused on Indian population is a good starting point, but exponential development in future awaits.

ELEMENTS

Example games –


This game is also available on mobiles. Here the aim of the game is to help the participants learn about the importance of financial planning. The free online mini game was developed by T. Rowe Price in collaboration with Walt Disney Imagineering.

According to T. Rowe Price the game will impart important financial tips and tools, as well as definitions of basic key financial concepts, such as: setting goals; saving and spending wisely; inflation; asset allocation and diversification. While playing the game, players will have to make tough choices that will affect their financial plans, meanwhile they will choose and accomplish their own personal dream goals.


This game is mix of story, game along with learning. The game has been developed by North American Securities Administrators Association. The aim of the program is to aid students learn how to fight fraud. 

Therefore, the game shows how a school going child goes around meeting and taking help of different people to uncover a million dollar fraud. It also teaches students on how to delve into newspaper stock tables, researching companies through online news, and deciphering the truth of an investment from fraudulent sales pitches. 


A game developed by Franklin Templeton Academy, a part of Franklin Templeton Mutual Fund. The game is a quiz. While the person playing is answering questions, each question is considered a ball. And an over is made up of 10 balls, hence an individual will have to answer 10 questions and then proceed to the next round. Progressive rounds will increase the difficulty level.  


List of Other Games
  • Practical Money Skills. A website Here there are many games that focus on children to teach them about money. 
  • Mind blown life: A social mobile game that develops money management skills. 
  • Financial Entertainment: A website dedicated to many games -- online and mobile – with focus on different facets of financial management for individuals. 

P.S. This is the submission draft. The actual story had appeared in December issue of Money Today. You can read the final version. Click here or copy paste the given below link -http://businesstoday.intoday.in/story/investor-education-games-improve-financial-knowledge-quotient/1/212681.html

Monday, September 1, 2014

Upgrading or learning a new skill

How many times you have felt that there is perhaps a need to upgrade your knowledge of the latest things in your field of choosing? Or how many times have you felt, that ‘it would be nice to know more about a subject that you had perhaps enjoyed during college days’ but the call of duty, from both personal and professional life, didn’t allow you the opportunity? Well now there is a chance to learn all of that for free through MOOCs. And there is also an option to pay and be certified.

MOOC

Massive open online courses (or MOOCs) are online courses trying to share college-level knowledge. All lectures and course materials are accessed online, and to check the knowledge given by the course there is a process whereby online tests would be available. In some cases there is a provision for peer review, where in other students will check your copy while you will check the other students’ copy.

“There are two aspects to MOOCs: a technology platform that can enable new pedagogy and mode of delivery that increases the reach to a much larger audiences,” says Sundar S Balasubramaniam, Dean, Academic and Resource Planning BITS Pilani. He further adds, “We believe that the technology is still evolving and there are many aspects of MOOCs which will complement conventional learning but also open up new modes of learning.” Balasubramaniam believes that MOOCs are likely to prove beneficial for mature learners and varied groups where learners will be able to learn at their own pace and way.

Isaac Chuang, a professor at Massachusetts Institute of Technology (MIT) for electrical engineering and computer science and of physics, and also co-lead of a research team from MIT and Harvard shares the vision and thought behind MOOC. He says, “MIT sees that MOOCs may lead to the spread of knowledge worldwide, and improvements in on-campus education, such as in residential universities like MIT and Harvard.”

Stanford, another world renowned university, runs its own instance of an open-source online learning platform (Stanford OpenEdX) that supports research and experimentation in instructional design. In a report on MOOC 2013, John Mitchell Vice Provost Stanford was quoted as “Stanford's vision is much broader than MOOCs. We're thinking about how we will best educate students for generations to come.”

There are two directories which track all major MOOCs available online – www.mooc-list.com and www.class-central.com. One can either look for universities followed by courses offered or they can search for specific topics like – computer science or artificial intelligence, economics, music, etc, – and then decide on the university. Among the most popular MOOCs are Coursera, edX, saylor.org, Canvas, Alison, Udemy, etc. 

How will it help?

Abhay Tandon, an employee at Scaale Capital, took a course through the platform of Coursera, from University of Maryland’s on ‘Developing Innovative Ideas for New Companies’. He says that his MBA degree gave a strong theoretical understanding, but Coursera classes gave him a firm practical basis, like realizing how investors in Spain differ from those in the U.K.

Shashi Kant, a student at IIT, is doing various courses from Coursera and edX related to computer science. He reasons, “I am doing courses related to computer science as it supplements my course and it could pay off in career too as it provides you world class knowledge at just no cost.” He further adds that in the industry, the tag of your college will get you a platform but after that an individual will survive only through knowledge. He says, “Many of my friends (mostly students) are also doing these courses to improve their knowledge.”

Ketan Kapoor, Co-Founder and CEO, Mettl, a skill based online assessment platform, says, “We have seen the industry move from knowledge based hiring to skill based hiring.” He points that on the job skills and competencies are the most important selection criteria for most organizations. “If individuals are taking up the initiative of upskilling themselves, adding new feathers to their hats - they definitely come across as self-starters and motivated individuals to the hiring teams - apart from the obvious skill adds,” says Kapoor. However adding a word of caution against high hopes, he says, “The candidate applying with a certain skill set learnt from MOOCs will have a disadvantage against an experienced professional who has used that same skill set in his projects.”

Ajit Joshi, who was previously working as National Presales Manager at Ingram Micro India, says "One of the interesting incident was when I started watching the videos of Introduction to Operations, I realized there were so many things that I can implement at my company bringing in more efficiency and better coordination between departments."

Ashutosh Telang, EVP & Global Head HR, Marico says, “At Marico, we encourage employees to continuously upgrade their knowledge. Learning by doing is core to our development philosophy and this is supplemented by training, education, perspective building and coaching.”

Kapoor’s views were resonated in Telang’s words as well. Telang says, “Education and experience play an important role in assessing an individual’s capability.” Furthermore he says, “While potential talent and talent within the organization upgrade their domain knowledge through online courses or MDPs, what really matters is the ability to apply this knowledge in their work context to make a difference.”

Futures of MOOCs

Telang opines, “Access to curriculum through MOOCs conducted by reputed institutes enhances the credibility of the education and as more people enroll in MOOCs, organizations will have to take cognizance of this and revise their hiring guidelines.”

“The average age of learners registering for MITx courses is between 26 and 35 years old.  Many of these folks are professionals seeking to learn new things.  Such lifelong learning will naturally be of interest to corporations seeking to improve their workforces,” says Chuang of MIT.  

Balasubramaniam of BITS Pilani says, “The best thing about MOOCs apart from the immediate and tangible benefits is that it is forcing educators and administrators to think about learning and education in a fundamentally new way. In India MOOCs have the potential to enable half a billion India youth to access expertise in different domains.” Companies in a few countries have only invested in MOOCs but are also leveraging MOOCs for in-house training. Acceptability may take a few years but it is bound to happen. 

The Tough Part

Scheduling is an important criteria if you are student/working professional - some MOOCs allow you to join anytime of the year and some have the semester system, some allow you to learn at your own pace and some have strict schedules for lectures and assignments. Some courses provide you with a certification and some don't.

“The main challenge I found was varying deadlines because different Universities have different time issues in accordance of IST,” says Kant.

The Easy Part

Among the benefits, the most common benefit that everyone talked about were, since it is a video lecture you can pause and rewind to as many times as you want until you understand the concept. In a traditional classroom, it is highly unlikely. Secondly, one can do it anywhere as per their convenience, whether traveling in a bus, sitting in a cyber cafe or relaxing on a Sunday at home. Third, classroom participants comes from all over the world, hence, giving a complete sense of global learning with lot of new perspectives added from different angles in the discussion forums.

In Kant’s experience, “the good thing going through this format is that you are completely free to go at your own pace. In many courses you'll get new iterations of the course in just one or two upcoming months so you can have multiple options of doing such courses.”

Additionally Tandon believes there is one additional benefit, he says, “These courses don’t cost much and thus are a major value-add for those who can’t afford to take up regular courses.”

A word of Advice

Telang of Marico suggests that one should select content that is targeted and meaningful. He says, “Choose a course with videos, scenarios, case studies, and other application- focused learning activities. Most important part is to apply MOOCs experience to solve a practical challenge in work environment.” It is important to recognise that each one of us has a distinct learning style, being aware of it and choosing the right course and media goes a long way in building the capability.

Kapoor of Mettl advises, “If your focus is employability, then it makes a lot more sense to pick courses that compliment your portfolio and help you gain skills needed for your dream job.”

“Test yourself on the problems.  Data is showing that learners in MITx on edX courses spend far more time and effort working on problems than using any other kind of resource provided by the course,” says Chuang.



This is the submission draft. The actual story had appeared in August issue of Money Today. You can read the final version (which includes experience of individuals). Click here or copy paste the given below link - http://businesstoday.intoday.in/story/free-online-courses-mooc-harvard-mit-bits-pilani/1/208508.html


Wednesday, July 9, 2014

Who has got it wrong -- SEBI or the Journalist?

Business Standard published a news article where it informs that SEBI has sent notice to 20 AMCs, for parking undeployed funds in short term debt instruments.

"By Sebi norms, an AMC cannot park funds in short-term deposits of banks in excess of 15 per cent of net assets of the scheme. The investment could be raised up to 20 per cent but only after the approval of trustees." -- Business Standard 

Now I think there is a serious problem with this news. Perhaps it is correct or maybe SEBI needs to do a bit of homework. Each fund has a strategy. Anyone who has been reading market history or has had the chance to see it will know that no strategy works all the time.

At one point in time, the fund manager will not able to find good ideas to invest in because of the strategy or the philosophy is not suitable for that market condition. In such times the choice for the fund manager would be limited. Either they can keep the money in some safe, liquid deposit or take risk beyond their comfort level. Therefore, this notice from SEBI’s does question their wisdom or the reporting standard?

I don’t know what to think! Perhaps the SEBI.

Sunday, March 16, 2014

Social media as a business tool

The social network cannot be ignored, whatever be the size of your business. In fact, it could become your closest ally if you are running a small enterprise. Money Today tells you how you can use social media to your advantage to promote your business.




To read the full story click here or copy-paste the link given below

http://businesstoday.intoday.in/story/tips-to-use-social-media-network-to-promote-business/1/203817.html

Sunday, January 19, 2014

Electronic stamping or E-Stamping

Paying stamp duty is an essential part of almost any transaction you do in India, from buying or selling a house to setting up a business agreement or even registering your many insurance policies.

Read the full story-here or copy paste the below given link

http://businesstoday.intoday.in/story/electronic-stamping-is-a-convenient-way-to-pay-stamp-duty/1/201780.html