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Recession is for longer time in Economical Development

Saturday, March 7, 2009

Recession is not a problem of a short period but also it is problem of longer economical crisis. When we see Indian economy we found that year 2006-2008 recognized as economical development but in real it was not a development. In the capital development there was a seed of economic crisis. Many people are giving many theories but no one talking about capital crisis.

The recession is actually the crisis of capital. The cycle of capital not running easily because over productions have created the crisis. It is the basic things of capitalist systems. Before proceeding towards recession we should know about the capital and economic cycle.

Everyone knows that currently we have been living in market society. Not in a human society where everyone works to satisfy requires of each others. In the market society to survive our live we need a job. But for that job we return more production to our boss. The accumulation of that production increases day by day like Indian economy of 2006-2008. After the huge accumulation we find two pole – one is capital accumulation and another is society without money.

All the analysts of economic crisis are giving the theory to solve the problem for a while but no one wants to solve it permanently because they don’t want. Why they don’t want? They have accumulation of capital and they want to run the society by their market but in the higher stage of capitalism-imperialism there is need to change the society by people not by politician and not by the voting system.

Economic crisis can be solved by the people revolution otherwise the society will run in the crisis. Economic crisis bring the social crisis actually. We can see the cut off jobs, shutting down companies, distortion of technologies etc. All these are the value of society but the society is in the crisis. In the crisis of society we have to see – frustration, madness, robberies, communalism etc. So, there is only one option to stop recession – either change the society or go to hell.
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SBI Credit Cards Outlet across the Globe to Handle Business

Monday, February 9, 2009

In terms of business and market cover SBI has created huge outlet across the globe. You can imagine that how SBI handle its market to grow business rapidly. I am going to share that news here from a credit cards blog. Below is full coverage about SBI credit cards outlet:

"When it comes to the discussion of the most extensive ranges of credit cards that are useful for several kinds of usage then the name of SBI credit cards come on the top.

The financial scenario of India has drastically changed with the implementation of electronic banking. With the blessing of Internet technology, now the banking chores and financial transactions have become much flexible like never before. One of the latest additions in the present scenario of online banking is the credit card. Credit card is basically a plastic made triangle shaped card which is equipped with a unique chip into it. A credit card allows the users to make financial transaction, transfer money, online purchasing and other financial activities with supreme flexibility.

Now you will find hundreds of banking institutions in the country, which offer different categories of credit cards that are specially designed for different types of usages. When it comes to the present scenario of credit card providers, then the names of SBI credit cards come on a remarkable position. The State Bank of India offers an extensive range of credit cards to its customers which fulfill different kinds of facilities to the card holders. Let’s discuss about the various kinds of credit cards offered by the bank to make a clear idea of which would be best suitable for you.

SBI offers its extensive range of credit cards in the names of GoAir SBI card, SBI railway card, SBI Vishal mega mart card, SBI silver cards, SBI social card, Hero Honda SBI card, SBI Gold cards, SBI platinum cards and so on. Different credit cards are designed to help the users in different ways.

One can use the GoAir SBI credit cards in over 24 million outlets across the globe. The users can withdraw cash from 1 million VISA ATM counters. These cards also facilitate you to buy just about anything and let you repay the amount in monthly instalment basis.

The SBI Silver card is a superb type of credit card offered by the bank. The users will get the advantage of cash back in various departmental stores, groceries, restaurant and utility bill payment. By making transaction through these cards the users will get the benefit of 0% fuel surcharge.

The SBI platinum cards are literally the credit cards for the elite class of people. Through these cards, the users will get exclusive travel advantages of cash access across the world, international power points, travel related assistance services and so on.

The lifestyle credit cards of SBI also have world-wide acceptance. The users will also get the advantage of cash on the go. These cards provide the advantage of utility bill payment facility and teledraft facility.

So, from the above discussion one thing is quite clear that the SBI credit cards are available for all sort of financial needs and all class of people. Like such cards, the popularity of the Canara bank credit cards is also on the top among the people of India."

Source Via :SBI credit cards in over 24 million outlets across the globe
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Calculated EMI for Home Loans Interest Rate in India

Saturday, January 10, 2009

People say that home loans are easy available now, I am agreed. People say that home loans is now very lower interest, I am not agreed. I am not agreed because here is some cause which I am going to share that. I am agreeing because the crisis of economic has lent the home loan without down payment. Let’s read calculation of EMI for home loans interest rate in India from a blog below.

"Nowadays, in the Real Estate sector there is a revolution for mortgage loan. All the news paper and magazine are with full coverage of lower interest rates for home loans, lower EMI on home loans, lower mortgage interest rates etc. But what is the actual situation have to justify.

According to the SBI calculation on fixed 12% interest rate the EMI will be 867.82 now upto Rs. 5 lakh on per lakh for every month. Old EMI was 1,101.09 upto Rs. 5 lakh for per month on every Rs. 1 lakh. It means, your saving is about 233.37 up to Rs. 5 lakh for every month on per lakh.

For the Rs. 5 to 20 lakh new EMI will be 915.87 per month for every Rs. One lakh rather than 1,101.09 old EMI. It means, your saving is Rs. 185.22 for per one lakh amount if you get the home loan for Rs. 20 lakh for the 20 years tenures.

Overall your saving will be Rs. 185 to 233 for per lakh on the home loans for 20 years. It was the calculation on the basis of 12% fixed interest rate by State bank of India.

What is the reality of these loans? For example you borrow a loan amount of Rs. 20 lakh for the 20 years then what will be EMI?

According to the new EMI calculation you have to pay per month about Rs. 17356.4 if all the circumstances don’t change. However, your older calculated EMI was for Rs. 20 lakh per month – Rs. 22021.8.

You can just imagine that if you buy a home on the amount of Rs. 20 lakh then you have to pay total in 20 years Rs. 41,65,5,36. It means just double amount for that Rs. 20 lakh in 20 years.

So, in the Indian context you can imagine who can buy the flats to take loan by banks! It is the revolution of Indian Real Estate sectors and income and investment of Banks.

Another story says that you can borrow whole amount by banks on 0% down payment. Is it crisis or investment? However, the home loans or mortgage loans trends has been not increased as year of 2006-2007.

Total deduction in the percentage of interest rates is 1 to 1.5. The actual interest rates will follow with the monthly EMI on the basis of loan amounts and loan terms.

All the activities is the result of government pressure on banks due to economic crisis for the liquidate the capital in the consumers."

Source Via :New EMI Calculation for Home Loans on lower interest rates in India

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