Inward Remittances’ impact on the Indian Economy

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Inward remittances refer to the money that is sent or transferred by the Indian diaspora to their friends, family, and relatives in India. It can come to India in the form of travellers’ cheque, foreign currency, or demand draft. India now holds the distinction of being the leading receiver of remittances in the world. India has held the top position in the world as the receiver of remittances for the last five years.

The impact on the Indian Economy

Before the global economic crisis, factors of the external economy like globalization, liberalization, and increased foreign direct investment were seen as the main drivers of the growth process. But, after the crisis, internal factors like strength of the regulatory institutions and domestic consumption, the demographic profile of the country have also been appreciated for the role they played in sustained economic growth. 

According to the Ministry of Overseas Indian Affairs, more than 25 million NRIs contribute to inward remittance. Each year the NRIs send home billions of dollars in the form of remittances. There are many households that depend on this money which is sent back to them by the family members working abroad. When you think of it in terms of foreign exchange earned by the country, it gets a share of over 22%. It is not like India depends on this money heavily, but there is no denying the fact that it helps the economy. In 2010, RBI imposed a de-regulation on the interest rates of the NRE and NRO accounts, which was aimed at helping NRIs to deposit money in India.

Strong value of the US dollar with respect to the weak Indian rupee has also helped in the rise of remittances because more NRIs have started depositing money in the Indian accounts. The global slowdown did not stop the migrants from sending money through Standard Chartered inward remittance. The population of the developed countries is aging, which means there is a higher demand for migrant labor and the demand will continue to grow over the years. The remittances, in such a situation, help the families of the migrants to build a secure future. This, in turn, makes migration lucrative, even if it is not necessary, for many young people.

The global market of remittances is vast and it impacts both the high and low income countries in important ways. The salaries of the developing countries are five times lower than the developed countries, which acts as an impetus to migrate. The migrants are getting the salary from the developed countries but they are sending the money in the native countries. The additional income from the remittances is really helpful for a developing country like India where the domestically made goods are traded using local currencies. It not only helps in improving the standard of living of the recipient, but also that of the overall economy of India because of an influx of wealth and an increase in buying power.

Regulation of the flow of remittances

Many … Read more

The four Stages Of The Market Each Critical Dealer Should Know

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A Quick Overview of PNB Personal Loan

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Nowadays personal loans are among the best way to afford a good and decent lifestyle. As personal loans can be used to meet almost all the current and emergent financial requirements. It is an unsecured loan that means a borrower is don’t need to provide any security to avail of this loan.

While personal loans are popular due to which the financial market is full of personal loan lenders. And to sustain in the competition each personal loan lender is trying to prove them the best. This has increased the stress of the loan seekers to choose the right one for them. So, if you are also going with this hassle of making the right pick for you. Then here is one name which you should consider before taking any decision and i.e. PNB personal loan.

Key Features of PNB Personal Loan 

PNB does not require any introduction as it a well-known and prominent name in the financial industry. But there are few things which need to be known about and that’s PNB Personal Loan. So, let’s have a quick look upon the features of PNB personal loan to have a better understanding of this product:

  • Unsecured Loan: Personal loan from PNB is collateral-free as there is no need to put any security against the loan amount.

  • High Loan Amount: A borrower can avail a minimum loan amount of Rs. 50,000 and the maximum of Rs. 15 Lakhs. However, the accessible loan amount varies based on the type of personal loan scheme is availed.

  • Competitive Interest Rates: Pocket-friendly interest rate is offered on a personal loan from PNB. The rate of interest varies based on the personal loan scheme is availed.

  • Various Schemes: PNB offered many personal loan schemes to reach out and fit into the borrower’s needs. There are majorly three types of loan schemes, namely, Personal loan for Public, Personal Loan for Doctors and sbi Personal Loan for Pensioners. Although there are other customized schemes as well which can be acquired by one who fits in the respective eligibility criteria.

  • Flexible Repayment Tenure: A borrower can choose a loan repayment term as per his/her convenience. The offered repayment tenure ranges from 1 year to 5 years.

Why avail a Personal Loan from PNB?

This is a question that may revolve in every loan seeker’s mind. So, here are the reasons why one should consider PNB as their loan lender:

  • An array of personal loan schemes is offered as a personal loan for the public, doctors, and pensioners.
  • PNB offers special schemes and discounts for the borrowers.
  • Minimal and easy documentation process which speeds up the loan processing.
  • Low processing fees are charged on PNB personal loans.
  • A wide presence of PNB in India has made its loan processing even easier.
  • The quick disbursement of the loan amount is also provided by PNB.

Eligibility Criteria of PNB Personal Loan

As mentioned before, the eligibility criteria for availing a personal loan from PNB varies based on the many … Read more

Credit Card Debt Relief Services Hype? Or Will It Work?

In today’s society, getting involved in debt, especially credit card debt, is not uncommon. It’s, getting rather popular. It is for this reason that credit card debt relief services or programs are set up.

Americans are well-known for their involvement in debts. To make matters worse, the number of families who are slowly in debt is also steadily increasing. These two phenomenons further call the need for the development of debt relief programs and services.

Based in Chicago, a debt settlement organization called Debt Relief claimed that credit card companies are the biggest reason why the number of people in debt is on the rise every year.

A lot of people do not realize that their credit card debt relief programs are right within their reach. Credit card debt relief services can assist you in working with your credit cards companies, often reducing the total amount you owe and thus help you get back on course to get all of your credit card debt paid off.

One of the best ways to get yourself out of debt is to seek the help of credit card debt relief services. This is especially true if you have a significant obligation to income ratio. With the help of their services, you will be able to select from many different options to pay off your debt.

Additionally, if the amount of money you owe your credit card firms is a lot, and you have to pay them and at the same time have to support yourself as well, then asking the help of these debt relief services is probably your best solution.

The establishments of credit card debt relief programs and services have touched and helped the lives of many people, especially those who are near bankruptcy. Nevertheless, for these programs and services to be effective, you have to control your lifestyle and change your spending habits.

Americans need credit card relief to stay alive, and they must stop sinking deeper into debt. The typical American started a great career with a promising firm after finishing college. However, they tend to be very wasteful, and before they realize the trouble they are into, their debts kept piling up as time goes by.

If you’re in a lot of debt, credit card relief services are arguably the best debt relief programs out there. However, before you do this, you need to know the amount of money you currently owe your credit card companies. To find an excellent debt relief program that suits your needs, you need always to keep your eyes and ears open to the latest credit card debt relief news.Read more

Will different entities bring any difference to the economy?

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After deciding to start a business the first and foremost thought that comes to mind is how to register a company in India. It is very simple and can be done even through online. But before registering one must make sure about which type does his business fit in. The prime point when starting a business is to decide on which type of business entity you will belong to. There are many types of entities like the Partnership, Proprietorship, Limited Liability Company (LLP), nonprofit and corporation. The business structure’s type depends on many factors like the company’s goal, workforce and so on. Each type of business entities has its own advantages and disadvantages. So choose accordingly as which fits you the best and take the smart move.

The LLP in India merges the advantage of the partnership and the company into the sole form organization. It has many advantages attached to its credit when compared to the partnerships, proprietorships and other companies.

Let’s look at some of the pros and cons of Business Entities and they are as follows.

  • Sole Proprietorship – They are easy to create. The business is owned by the sole owner. There are no fees linked to the business creation and the best part, the owner of the business can claim the loss through personal income taxes. It also has drawbacks like the complete loss is faced only by the owner and also he is responsible for all the business profit’s taxes.
  • General Partnership – Just like the Sole owner, this type is also easy to create and maintain easily. This type also gives the freedom to claim the loss from the income tax. In the case of debt or loss in business, all the owners are accountable for it.
  • Limited Partnership – This is one of the most popular and sought after type as it attracts investors to invest only a portion of the investment. They are entitled to enjoy everything in limited liability and also leave the business without any worry or stress. It is suited more to real estate investment and has limited choices and options.
  • Limited Liability Company (LLC) – They enjoy limited business debts even though they control many parts of the business. They can choose the taxation method for LLC either as a corporate or partnership. The only drawback is that it is expensive compared to other business entities.
  • Regular Corporation – The business owners enjoy limited liability when it comes to debts or loss. But it comes with the complicated paperwork which needs to be filed in the state secretary.

When you are developing a business, you need to consider several things like the profits, division of liability, taxes, control of the business and many more. A deep understanding and complete study are required before getting involved in any of the business entities.

Liability Protection

The corporation offers a good benefit to other business and that is the protection of liability. The shareholders are not at risk of … Read more

Camping Trailers – All of the Comforts of Home

Camping in a tent is great fun, but sooner or later you will finally say enough is enough. I remember when it happened to us. We had set up our tent in a pretty campground along the Missouri river. Unfortunately the owner had skimped on the size of the washroom. It was a long weekend and the park was full. We awoke in the morning and the washroom was our need. Sure enough, there was a line up of eight for the ladies and two for the gents. That was the morning we made the decision to buy our first RV.

It is a daunting task to begin the search. Anyone who knows travel trailers knows that units come in all different shapes and sizes. We soon realized we would need to buy a small one as we had an older car with a big 6 engine.

Mistake number one. We searched and found a small ten foot long fiberglass unit that must have been thirty years old. Now we had two old units. The car and trailer.

Mistake number two. We traded for a fifteen foot fiberglass. It was fifteen years old in nice condition. We hit the road for a trip cross country. It rode well pulling it with the old car. Second day out it rained as we drove. When we stopped the front window had leaked all over the upholstered seats. We tried our best but could never find how the water came in.

Mistake number three. We traded for a twelve year old twenty foot European model. Too heavy for the car. Traded for a van. That was a nice rig. Worked well. Then we decided to spend the winter in Arizona.

Mistake number four. Traded for a new twenty five footer and the van for a three quarter ton truck. Took it to Arizona for the winter. It worked fine for us but was a little small for six months of living.

Finally after enjoying the rig for two more years we realized our medical travel insurance was getting way out of hand for traveling in the USA from Canada so we sold everything and purchased a small car.

We realized that our biggest mistake was at the very beginning. We should have taken at least a few months and checked out all of the trailers and the vehicles that are required to tow them. We should have stopped by some campgrounds and asked people who were trailer owners what they thought about their rigs. After all there are so many types available. We should also looked at motor homes.

One thing you might forget, bring a match anywhere because you might need it in an emergency. Many people have ignored this trifle on their vacation trips. bring flameless lighter because it’s very safe and practical to carry anywhere.

Hindsight now leads us to believe that we would have looked at how we were going to use the trailer. Short or ling trips. Short … Read more

Importance of Instant Loan in Day to Day Life

Instant loans are those types of loans, which do not require too much of documentation and are approved really quick without any asset showcase. Human life is uncertain and unpredictable. A situation like a medical emergency or an unplanned trip can lead to cash crunches. Applying for an instant personal loan can help you out in these situations without cash imbalances.  

Why instant loans?

Paperless Approval: In a traditional personal loan, all the documents are submitted in hard copies to the bank. In comparison, Instant loan is applied online hence the documents are submitted online and the process is paperless.

Loan without collateral: An instant loan, more importantly, which is personal falls under unsecured personal loan category thus it does not require any collateral or security while applying for it.

Low processing time: It hardly takes five minutes to process the loan. In a traditional personal loan, the processing time is the 4-5 working days, which is way more than instant loans.

Flexible loan tenures: When an instant personal loan is sanctioned to anyone an offer of flexible loan tenure is provided. This offer can help in adjustable repayments.

Low EMI’s: Instant loans have low EMI’s as compared to personal bank loans thus it can be availed by the people who have a medium or low range of income.

When to apply for an instant personal loan?

Following are the situations that can demand an instant personal loan:

Medical Emergencies: Medical emergencies never knock before coming. Life is unpredictable where we don’t know what’s going to happen next. Accidents can happen to anyone anytime. A road accident or any kind of health deterioration leads to huge hospital bills. Sometimes the savings and insurance aren’t enough to cover the whole expenses. In these situations, instant loan plays an important role.

Business: the Life of an entrepreneur is not full of roses. Ups and downs are part of this. Sudden losses are common in the business field. The urgent requirement of money to raise the value of the company cannot be done by traditional bank loans. They take away valuable time and need security against the loan. Here, instant loans can help out to recover losses and raise the value of the company.

Wedding: Indian traditional weddings are a huge 4-5 day function. Everyone wants a dream wedding with everything to be over the top. The jewelry, dress, food, venue, gifts requires a lot of investment and sometimes to do everything best can lead to a cash crunch. At the end moment, nothing can be compromised hence instant loan can help to get the grand wedding without compromising with happiness.

Urgent travelling: Travel is a costly expense. Suppose, an emergency situation like medical calls for shifting the patient abroad, which can be only done by air. It requires a large amount of money. Borrowing money from a friend or family can be embarrassing. Hence, instant loan is considered a boon in such situations.

Debt consultation: Unpaid loans, past bills call for a … Read more

All you need to know about the annual fee on your credit card

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If you are using a credit card, then you are already familiar with how challenging the payment becomes at times. Nevertheless, the use of a credit card can help you make sure how much you are spending. However, spending too much is a challenging affair, especially if you own just one credit card.

Well, to resolve all your queries regarding the annual payment on your credit card here’s presenting the safest guide. Now, what exactly is the annual fee on the credit card you’re using lately? To know more, keep reading.

An Introduction to the Annual Fee on Your Credit Card

The annual credit card payment happens to be one of the common credit card fees.  It happens to be the fee which is automatically charged once every year to the credit card account. This is licensed to give you the benefits that your credit card comes with. When the annual fee is charged, the range generally ranges from $25 to $500. But this certainly depends on the use of your credit card. With a higher annual fee, the benefits are more than any general credit card provides.

Typical Card Having Annual Fees

Not all the credit cards have an annual fee. As a matter of fact, the cards usually have the amount fee that includes the premium credit card, reward credit card, as well as secured credit cards. The annual fee tends to increase the cost of having a credit card. In case you pay the annual fee, you need to make sure that the benefit from the credit card exceeds the cost.

How is the Annual Fee charged?

While the annual fee might be the one-time charge on the credit card during any month of the year, the charge is generally not very low. As a matter of fact, this cost is charged on a year completion. And the annual fee might also be divided up. It is more common for the cards to charge the fee only once every year.

How to Avoid the Cost?

There are many credit cards which charge the annual fees waived in the very first year. Upon the completion of the first year, the fee gets automatically deducted from the user’s account. In case, right upon the completion of the first year, the user decides the annual fee is not worth the cost, then he or she can also close that particular account. But before making such decisions, the user needs to make sure that he or she assesses the impact on the credit score and then redeem the accumulated rewards.

As a matter of fact, one can also be capable of switching to other credit cards with the issuer name remaining the same. However, it should be something that doesn’t come with an annual fee. But before anything else, he or she must know that by downgrading the account, you may also lose some benefits. And the user might end up without incurring rewards at a similar rate. This is true … Read more

How does branding work, what is the role of a logo, content, etc. in creating an image for your company?

Branding is a major part of every company. Branding is even as important or more so than your product. The reason why branding is key is that there are certain situations where branding has a whole lot more to do with sales than the product itself.  The fact remains that because branding is the first experience of your company that people have of you. Its importance cannot be downplayed. A popular expression goes something along the lines of “You never get a second chance to make a first impression.”Studies have in fact proven that 48% of customers tend to be loyal to a brand after making the first purchase.

This being the case, It is easy to see why it is very important o ensure that all of the individuals who are introduced to your product for the first time are so drawn to it that they decide to make a purchase. This being the case It only makes sense that as a company you put in the energy to make sure that your first impression among your clients is your best impression.

When people talk about branding, in general, they refer to everything from adverts to product design and logos. This particular article focuses on only a few of these very important areas. The question most people ask in this situation is “What’s the direct correlation between a logo and sales?” Another popular question is “how does product design help” The general answers to both of these questions are easy. Logos, products designed and every other aspect of branding are carefully crafted to simulate exactly how the world will see you.

Your logo, for example, needs to be very well thought out. Your logo shows who you are to the world. Very good logos leave customers with a general idea of what services you offer or a distinct memory of your brand. Your choice of font communicates a subliminal message to your prospective clients, the colors that you choose may express passion, playfulness, stability, cheerfulness or even luxury as the case may be. The Fiverr customer experience may help considerably with this aspect of branding.

Taking Into consideration all of these elements it is very possible for you to pass across to your prospective customers your mission and your brand personality as the case may be. It is this ability to carry such a subtle strong message that makes branding a very very important part of any company. Imagine a situation where the wrong symbol or color was used to represent a company, by virtue of that alone the customer losses suffered may be very significant.

Product design is also a major contributor to branding. It is especially important for your product to be aesthetically appealing when it is a physical product. A very simple illustration of this importance can be found in the shopping aisles of any major shopping center. For a first-time purchaser pf any product there is a high probability that you will select whichever … Read more

Choose Social Media Campaign Proposal Example

A Digital Marketing Strategy Is All It Takes!

Choose Social Media Campaign Proposal Example

All the businesses today need a strategy on the online world in order to market themselves as a brand and promote their businesses worldwide. A digital marketing agency consists of a group of people who are very well-versed with the digital world and marketing techniques online who can help you formulate a unique digital marketing strategy for your company so that your business expands and you get many more business opportunities. The basic steps in order to create a strategy for your company would be customer segmentation, targeting, positioning, goal setting and using smart techniques to achieve these goals.

When a digital marketing agency is hired, they firstly begin by deciding what all mediums to choose in the digital world in order to market your company. Majorly all the agencies provide solutions consisting of an overall approach which includes creating an attractive website with well written and arranged web catalogue, they help you by designing a logo and making your brand more identifiable by giving you a distinct corporate identity.

When formulating a strategy you should select your target audience according to your positioning, brand and products. The next step is to decide which online methods should be used to reach these people. Digital marketing first of all involves a very detailed research of the market. It also includes search engine optimization which helps to increase your website’s page rankings when searched on the search engines. The digital marketing agency formulates a strategy which has many on page and off page techniques for the same. One important thing which the agency takes care of is that all the content you put up regarding your company is very original. They have a creative team who designs all your web pages and the company logo. A digital marketing strategy also has a major chunk which is dedicated to social media. Websites like Facebook and Twitter are used on a tremendously by the agencies in order to let the customers stay in immediate contact with the company. Any new product launch or activity of the company directly gets uploaded on these social media platforms where the people who follow the company can view and comment on these posts.

Like any other marketing approach, a online marketing strategy also has to be in complete alignment with the other business procedures of the company. Good quality products and services are expected from a company which is well presented on the digital world.… Read more