A young lady from Ludhiana (India) has started online shop to sell Punjabi Ladies Suits, Lehangas, Sarees, Kurtis and all type of ladies dress materials. Mrs. Rekha Khatri owns a successful boutique from last 20 years. She said that she was getting consistent demand for punjabi ladies dresses from customers settled abroad. Her daughter Daisy has taken this initiative to help people in different corners of world to get these dresses.

She told, that she is happy to help her mother as well as people settled abroad. She is also happy as she feels that this step would help keep punjabi traditions alive. Her portal is www.PunjabiDressWorld.com . They can customize the dresses as per personal choice, style and measurement of customers. She informed that they are able to customize each and every single dress and stitch it as per customer’s requirement, this is their USP. Mrs. Khatri syas that  her motive is to provide quality dresses to the punjabi people worldwide at very reasonable prices, which they can get as of now, because of non availability or very high prices.

They are providing inaugural discount on all their products. Please use discount coupon code “Punjabi10″ (without quotes) to get 10% immediate discount on all products.  Just visit www.punjabidressworld.com and get fabulous designs customized in your style and get it delivered to your door step. Did I mention that they are charging lowest shipping fee?

The Repo Rate is the official short term lending rate set by the Reserve Bank of India (RBI).
Repo is short for repurchase, and the full form is repurchase agreements. Outside of India, a repurchase agreement is usually a private interbank borrowing and lending practice. Banks will own certain kinds of what are known as liquid assets, usually government bonds, or the highest rated corporate debt which are short term in nature, ensuring that they have the deepest markets.
If a bank needs to raise cash or wants to borrow, then, it enters into an agreement with another bank that has money to lend, and it puts up these liquid assets up that is owns as security, and pledges to repurchase them at a later date and at a higher price in the future. The increase in price that the lending bank receives when it sells back those securities to the borrowing bank, represents the interest that the lending bank receives on making such kind of loans. Usually the interest is dependent upon the things one normally expects would determine the cost of borrowing, credit worthiness of the borrower, liquidity of the securities put up as collateral, the term of the loan etc.
In the rest of the world, the Repo Rate is largely a private affair with banks using this method of lending and borrowing to and from one another. In India, the rate is used as a monetary policy tool and the RBI uses it as a means of setting official short term interest rates.
Instead of banks transacting with one another, borrowing and lending from each another using such agreements, they tend to transact with the RBI instead. This is largely due to the fact that the majority of banks are government owned public sector banks, which control 80% of India’s deposits; it is perhaps easier and also cheaper for such banks to conduct open market short term borrowing and lending operations with a central clearing house like the RBI rather than deal with each other directly.
The other reason the Repo Rate is used as a monetary policy tool, is that under Indian banking regulations, banks are required to hold a large proportion of their liquid assets (i.e. funds they have not used to make cash advances to their customers with) in government securities rather than corporate debt (A market for corporate debt in India is almost non-existent), since the issuer of assets held as security is unique, it is far easier to set a standardised rate.
In most countries there are similar mechanisms whereby banks can pledge collateral to the central bank and borrow against it. In fact in America, the use of this financing technique has increased dramatically over the last year, and has been expanded since the failure of Lehman Brothers. The Federal Reserve, the US central bank has allowed even non banking finance companies such as Investment Banks to borrow from them using this method, and they have been increasingly liberal in what securities they will accept as collateral. This in fact was the only alternative available to them to ensure there was some liquidity remained in the market since the credit crisis froze short term interbank lending completely towards the middle of September.
A Reverse Repo is exactly what the name suggests, and is the opposite process of a repurchase agreement. A Reverse Repo is an open market operation of the RBI and is used as a means of borrowing back from individual banks in the Indian financial system rather than lending to them. The RBI engages in such an operation when it feels there is too much liquidity in the system, it is a short term method of mopping up cash rather than issuing bonds outright or tightening the Repo Rate which would also do the same thing.
The other monetary policy tools the RBI has in its arsenal, is the Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). The Cash Reserve Ratio is the amount of funds that commercial banks must keep with the RBI as cash. If the RBI decides to increase this ratio, the available amount that banks have to lend falls and vice versa. Similarly the SLR is the proportion of deposits that banks must hold as government bonds, and the RBI can use either of these two ratios to either add or reduce liquidity in the financial system.
Central banks use monetary policy to control money supply, the main reason they do this is to try and limit inflation. The most basic reason for inflation in economic theory is that there is too much money chasing too few goods, which is why prices end up rising. Hence it is the central bank’s mandate to try and keep a lid on inflation by ensuring money supply is monitored and not allowed to expand uncontrollably.
Central banks are also faced with the conflicting goal of maintaining growth and ensuring that money supply is not too tight nor interest rates too high as a result. High interest rates have the effect of reducing investment which impacts economic growth negatively. The higher the interest rate, the less demand there is for private firms to raise capital, because it costs more and the less investments they make as a result.
India is one of the few countries to use Repo Rates as a benchmark for official lending rates. In most other countries Repo Rates are usually associated with interbank borrowing and lending practices and are usually unofficial. For reasons mentioned earlier, the RBI uses the Repo Rate as its official short term lending policy. As of October 20th this year, the Repo Rate stood at 7.5 percent. The CRR stands currently at 5.5 percent whilst the SLR is a whopping 24%.
The Government should not be eating up close to a quarter of all retail and corporate deposits. Though western banking systems are probably looking at the Indian SLR with some envy right now, because it would have meant that their banks would have made less risky loans, that is no way to run an economy. Indian Government debt as a proportion of GDP is unhealthy and such a regulatory regime will only ensure that situation persists. Excessive Government borrowing results in higher interest rates for everyone and means that less private investment takes place constraining long run sustainable economic growth.

Different levels of management

Top-level management

• Top-level managers require an extensive knowledge of management roles and skills.
• They have to be very aware of external factors such as markets.
• Their decisions are generally of a long-term nature.
• They are responsible for strategic decisions.
• They have to chalk out the plan and see that plan may be effective in future.
• They are executive in nature.

Middle management

• Mid-level managers have a specialized understanding of certain managerial tasks.
• They are responsible for and carrying out the decisions made by top-level management.
• They are responsible for tactical decisions.

Lower management

• This level of management ensures that the decisions and plans taken by the other two are carried out.
• Lower-level managers’ decisions are generally short-term ones.

Four General Kinds of IS 

• Operational-level systems
  • support operational managers by monitoring the day-to-day’s elementary activities and transactions of the organization.  e.g. TPS.
• Knowledge-level systems
  • support knowledge and data workers in designing products, distributing information , and coping with paperwork in an organization.  e.g. KWS, OAS
• Management-level systems
  • support the monitoring, controlling, decision-making, and administrative activities of middle managers. e.g. MIS, DSS
• Strategic-level systems
  • support long-range planning activities of senior management.  e.g. ESS

OPERATIONAL SUPPORT SYSTEM

Transaction processing system (TPS):

A TPS collects and stores information about transactions, and controls some aspects of transactions. A transaction is an event of interest to the organisation. e.g. a sale at a store.

  Computerized system that performs and records the daily routine transactions necessary to conduct the business; these systems serve the operational level of the organization 

• TYPE: Operational-level
• INPUTS: transactions, events
• PROCESSING: updating
• OUTPUTS: detailed reports
• USERS: operations personnel, supervisors
• DECISION-MAKING: highly structured

EXAMPLE: payroll, accounts payable

Office automation system (OAS) :

OAS provides individuals effective ways to process personal and organisational data, perform calculations, and create documents.
e.g. word processing, spreadsheets, file managers, personal calendars, presentation packages
For are used for increasing personal productivity. They reduce “paper warfare”. OAS software tools are often integrated (e.g. Word processor can import a graph from a spreadsheet) and designed for easy operation.

Computer system, such as word processing, electronic mail system, and scheduling system, that is designed to increase the productivity of data workers in the office. 

• TYPE: Knowledge-level
• INPUTS: documents, schedules
• PROCESSING: document management,  scheduling, communication
• OUTPUTS: documents; schedules
• USERS: clerical workers

 EXAMPLE: document imaging system

MANAGEMENT SUPPORT SYSTEMS

Management information system (MIS) :

It converts TPS data into information for monitoring performance and managing an organisation. Transactions recorded in a TPS are analyzed and reported by an MIS.

They have large quantities of input data and they produce summary reports as output. Used by middle managers. An example is an annual budgeting system.

information system at the management level of an organization that serves the functions of planning, controlling, and decision making by providing routine summary and exception reports. 

• TYPE: Management-level
• INPUTS: high volume data
• PROCESSING: simple models
• OUTPUTS: summary reports
• USERS: middle managers
• DECISION-MAKING: structured. to semi- structured.

EXAMPLE: annual budgeting

Decision support system (DSS):

It  helps strategic management staff (often senior managers) make decisions by providing information, models, or analysis tools. For support of semistructured and unstructured decisions (structured decisions can be automated). Used for analytical work, rather than general office support.

They are flexible, adaptable and quick. The user controls inputs and outputs. They support the decision process and often are sophisticated modelling tools so managers can make simulations and predictions.

 Information system at the management level of an organization that combines data and sophisticated analytical models or data analysis tools to support semi- structured and unstructured decision making. 

• TYPE: Management-level
• INPUTS: low volume data
• PROCESSING: simulations, analysis
• OUTPUTS: decision analysis
• USERS: professionals, staff managers
• DECISION-MAKING: semi-structured

EXAMPLE: sales region analysis

  Characteristics of Decision-Support Systems

1. DSS offer users flexibility, adaptability, and a quick response.

2. DSS operate with little or no assistance from professional programmers.

3. DSS provide support for decisions and problems whose solutions cannot be specified in advance.

4. DSS use sophisticated data analysis and modelling tools.

Executive information system (EIS):

Also known as an Executive Support System (ESS), it provides executives information in a readily accessible, interactive format. They are an MIS for executive use. An EIS/ESS usually allows summary over the entire organisation and also allows drilling down to specific levels of detail.

Used by top level (strategic) management. They are designed to the individual. They let the CEO of an organisation tie in to all levels of the organisation. They are very expensive to run and require extensive staff support to operate.

Information system at the strategic level of an organization that address structured king through advanced graphics and communications.

TYPE: Strategic level

• INPUTS: aggregate data; internal and external
• PROCESSING: interactive
• OUTPUTS: projections
• USERS: senior managers
• DECISION-MAKING: highly unstructured

EXAMPLE: 5 year operating plan

Classification of IS  by Functional Area

• The accounting system information
• The finance information system
• The manufacturing (operations, production) information system
• The marketing information system
• The human resources information system

 Sales & Marketing Systems

• Systems that help the firm identify customers for the firm’s products or services, develop products and services to meet customer’s needs, promote products and services, sell the products and services, and provide ongoing customer support.

Manufacturing and Production Systems

• Systems that deal with the planning, development, and production of products and services and with controlling the flow of production.

Finance and Accounting Systems

• Systems that keep track of the firm’s financial assets and fund flows.

Human Resources Systems

• Systems that maintain employee records; Track employee skills, job performance, and training; And support planning for employee compensation and career development.

ALL OF THE MOST ……………….

• You see a gorgeous girl at a party. You go up to her and say, “I’m fantastic in bed.” That’s Direct Marketing.
• You’re at a party with a bunch of friends and see a gorgeous girl. One of your friends goes up to her, and pointing at you says, “He’s fantastic in bed.” That’s Advertising.
• You see a gorgeous girl at a party. You go up to her and get her telephone number. The next day you call and say, “Hi, I’m fantastic in bed.” That’s Telemarketing.
• You’re at a party and see a gorgeous girl. You get up and straighten your tie, walk up to her and pour her a drink. You open the door for her, pick up her bag after she drops it, offer her a ride, and then say, “By the way, I’m fantastic in bed.” That’s Public Relations
• You’re at a party and see a gorgeous girl. She walks up to you and says, “I hear you’re fantastic in bed.” That’s Brand Recognition.You’re at a party & when you approach to that gorgeous girl with a line that I’m fantastic in bed.” and she reply you with a Slap on your face .. That’s “Customer’s Feed Back”

Here are answers to twenty questions that crop up frequently in the taxpayer’s mind:

1. Heard of New Year. What are financial year, previous year and assessment year?
A financial year (FY) is a period of 12 months commencing on 1 April of a year and ending on 31 March the next year. An assessment year is the year immediately following an FY.
For the purpose of calculating income tax, FY is the period during which the income has been earned. The income earned in a FY is assessed in the following year, that is, the assessment year.
For example, income earned in FY 2007-08 (1 April 2007 to 31 March 2008) will be assessed for tax in the year 2008-09. The year preceding the assessment year is the previous year.


2. What if I have not received my Form 16?Employers are supposed to hand over Form 16 within 30 days of the end of a financial year, that is, by 30 April. Ask your employer to issue Form 16 immediately so that you don’t miss the 31 July deadline for filing return for salaried employees.
If you think that your employer might not issue the form in time, you can write a registered letter to him on the issue and send a copy of this to your assessing officer. The employer can be penalised for not issuing the form in time.
If no tax was deducted at source, you can ask your employer for a salary certificate on his letterhead stating your salary during the financial year. This certificate can be used to file a return.

3. Can I use my investment in ELSS this year to reduce last year?s tax liability?No. But if you had not claimed any deductions in your previous year?s return, you may file a revised return to claim a refund, if eligible. However, fresh investments would not be eligible for deductions from last year’s income.

4. Taxes get deducted from my salary every month. Do I need to file income tax return?
Yes. Filing of tax is compulsory for every person whose gross total income, that is, the income under the five heads before allowing for any deduction such as insurance premium, exceeds the basic exemption limit. For financial year 2007-08 (assessment year 2008-09), this exemption limit was Rs 145,000 for women below the age of 65, Rs 195,000 for persons above 65, and Rs 110,000 for any other individual.
Every person falling in the tax bracket should file a return, even if his tax liabilities have been taken care of by the employer through tax deducted at source.
Persons whose salaries have been subjected to TDS are also required to file return because they may have earned from sources other than salary.

5. I have earned under two heads?salary and capital gains. Which form should I use to file my return? How will my tax be assessed?
As an individual assessee, if you have earned income from capital gains in addition to your salary, you will have to file your return in form ITR-2. For taxation, you will have to first segregate capital gains into short-term and long-term.
Any gain from selling shares held for more than a year is termed long-term. Gain from sale of shares held for a year or less is called short-term. If you have paid the securities transaction tax on all share trading, LTCG will be exempt from tax and STCG will be taxed at 10 per cent for FY 2007-08.
Your gross tax outlay will depend on your salary income, income from capital gains, income from other sources like interest on bank deposits, and the deductions you are entitled to.

6. I was in two jobs. How should I file return?
The aggregated income from both your employers will be considered while calculating your tax. Ideally, both companies should give you Form 16 for salary earned during the relevant period. Try to get a salary certificate from your previous employer if you cannot get Form 16 from him. Submit this estimate and a declaration in Form 12B to your current employer who will then incorporate these details in the Form 16 that he issues.

7. What if I miss the deadline of July 31?
If there are no balance taxes to be paid, no interest or penalty will be levied if you file your return before 31 March 2009. However, there is a penalty of Rs 5,000 if you fail to file by that date. In case there are tax arrears, a penalty of 1 per cent per month will be charged as interest on the taxes due.

8. I took up a job in Bengaluru recently. My IT return was filed in Delhi till now. Where should I file it now?
You can file your IT return either in the city you are residing in at present, or in the city where your office is located. Since you have joined a company based in Bengaluru and also shifted your residence there, you will be required to file your return at Bengaluru.
You should write a letter about the change of your address to your current assessing officer and mark a copy of the same to your assessing officer in Delhi. You should also write to the IT Department to get your address changed in its PAN records.
It would be best if you enclose a copy of your previous year’s return while filing your return at Bengaluru. This will serve as a ready reference for your current assessing officer.

9. I have misplaced my insurance receipt. Is it necessary to attach it and other relevant documents with the tax return?
No attachments are needed with the current ITR forms as the forms themselves capture most of the required information. You don’t even need to attach the computation sheet with the form. After you submit the form, the IT department cross-references the TDS details using Oltas (Online Tax Accounting System). However, make sure to carry the photocopies of all the relevant documents to the income tax office.

10. Last minute planning can hurt. How do I prepare myself for next year?
This financial year (2008-09) would be better than the previous one as Budget 2008 has already brought a minimum of Rs 4,000 as tax savings for all the taxpayers. There is a gamut of instruments that can be used to avail deductions under Section 80C.
The mix taken usually depends on the safety, liquidity and term of the various instruments. However, most taxpayers generally forget to factor in whether the income generated by the instrument is subject to tax. It is at the fag end of the financial year that most salaried employees wake up to the need to save taxes through investments.
And in this last minute commotion and confusion, a lot investment happens in assets that are low on return, high on risk, or unsuited to the long-term financial objectives of the investor. As in life, it is always better to be an early riser in tax planning too and begin right at the dawn of a financial year, in April.
A deduction of up to Rs 100,000 is allowed from income every year on specified investments, expenses or payments.
Among these are bank deposits with a minimum period of five years, life insurance premiums, Employees’ Provident Fund, Public Provident Fund, repayment of the principal amount on housing loans, tuition fees, National Savings Certificate and equity-linked saving schemes. Link tax saving investments to long-term goals. Gauge Section 80C instruments as tax savers and wealth creators by looking at their post-tax return.

There are some more things to know in this regard… i will tell u later….in the meantime…..do write comments on this article….Do u like it or not? How it was? What u want to read…. Do tell me Your opinions.

STATE BANK Of INDIA (SBI)
Central Recruitment & Promotion Department
Advertisement No. CRPD/PO/2009-09/04
Applications are invited from eligible Indian Citizens for appointment as Probationary Officers (PO) in State Bank of India.
Probationary Officer (PO) Jobs / Vacancies in SBI
Number of Posts: 3500
Qualification:60% marks in class XII and 55% marks in GraduationorPost - Graduation, SC/ST/PWD Candidates - 55% marks in class XII and 50% marks in GraduationorPost-Graduation, Computer Literacy - Proficiency in computer (Certificate from a reputed Instituteorhaving computer as a subject in class XII or Graduation)
Age:21-30 years as on 01/07/2008.Relaxation as per rules.
Pay Scale : Rs.10000-18240/- (Approx Rs.4 Lac per annum)
Apply:Apply online between 14/07/2008 to 16/08/2008.Deposite a fee of Rs.250/- in any CBS branch of SBI and get Challan No.Detail of fee and other information should be submitted online at SBI website.
Date of Written ExaminationsPre Exam: 12/10/2008 (Pre)Final Exam on : 30/11/2008
Last Date for Receipt of Applications: 16/08/2008
For more details, please refer to detailed advertisement appearing on the Bank’s Website and being published in Rozgar Samachar / Employment News on 19 July, 2008 or in subsequent issues.

There can be nothing worse than to login to Blogger one day and find you blogger blog gone, corrupted or deleted forever due to any unforseen error. Back up is very important. Here are a few simple ways to keep your Blogger blog safe and backed up….

Back up Blogger Posts

• Backup Your Posts - Bloggers Blogsend allows each of my blog posts to be automatically sent to my email address. So I have a back up of all my posts as individual emails. You can further create folders in your email account (as in Yahoo Mail) or apply labels (in Gmail), and create filters such that such emails can be collected in one place.
• Back up your entire blogger blog - Bloggers provides detailed instructions to create a single file with all your posts which you may publish and then copy to your own computer for use as desired. Remember to save a copy of your existing template in a file on your computer as you will need to have it at hand after this process is completed. This is good for a one time backup, but is cumbersome to do if you back up very frequently. Also you might mess up some setting and disbale your blog is not done right.
• Try third party back up tools - like the HTTrack Web site copier for Windows users and Webgrabber for Mac users. Each of these applications will create a fully working, interlinked local copy of your blog for browsing offline and easily allow you to back up. Remember it will take considerable time and internet bandwidth if you have a huge blog.

Back up Blog Template

• Back up the template whenever you change it. Just copy and paste the entire template code into any simple text editor like Notepad or Wordpad and save file with name like ‘myblog-date.txt’. After a while you will have a series of such files organized by date. If for some reason your blog goes away, just copy and paste the teplate back into Blogger and republish.
• If you have lost your template partly or fully - learn how to restore your blog template code and then back it up.

Back Up Blog Comments

• Blogger has an option to send you an email when someone leaves a comment on your blog. This is located in Setting > Comments option in Blogger. This enables you to collect all your comments as individual emails, much like the blogsend posts emails mentioned above. Then you can file them all together as labels or in a email folder.
• If you moderate comments, you can get all your comments as emails pending your approval. This email address can again be entered in Setting > Comments. If you do not want to save rejected comments as emails and recieve only published comments - then you can keep the comment moderation email address blank, while filling up the Comment Notification Address.
• If you use Haloscan Comments instead, then anyway your Blogger comments are off and Haloscan is keeping track of backing up your comments. I am using Blogger comments featured now with comment moderation, word verification captchas to combat comment spam.

Make blog back ups a habit and you will remember this post when it saves your blog on a bad day!

Google Gadgets are mini tools that offer cool and dynamic content that can be placed on any page on the web. Though you can Google gadgets to your iGoogle page, Google Desktop, Blogger, and Page Creator, its even cooler to show off Google gadgets on your own site. There are some very cool gadgets out there, and here are some of my top picks in random order.

10 Best Google Gadgets

1. Countdown - Counts down to a user specified date. Customize it to countdown to any blog event, contest closing date, poll closing date, blog anniversary etc. Here is another one with text only display. Keep reminding your visitors and never miss a deadline.

2. Google Translate My Page - Gives you a quick dropdown menu to allow non-english readers to select their native language and translate the page using Google translation services. You can also get more gadgets with language flags. This is a good way to make your blog multilingual and get read by a wide international audience.

3. Digg 2.0 - Discover the best news, images and videos as voted on by the Digg community. You can customize your Digg gadget by topic, and view more story information, such as comments and a friend’s activity feed. Share interesting content rocking the web right now. You can also add Google News or BBC News.

4. Slim RSS Reader - Lets you add a custom RSS feed to display on your blog. Enter the RSS feed, number of items, title and you are done. Customize more with Simple rss reader or support multiple feeds with CustomRSS. Display feeds from your favorite blogs or topical categories in your sidebar.

5. YouTube Gadget - Display the top YouTube videos on your site, and let visitors browse around the Youtube site as well as play the videos without leaving your site. If sharing videos is your style, you need this now. Also try Google Videos.

6. Google talk - Everyone has a google account mostly via gmail and if your visitors are logged in, this gadgets lets them see your contacts online right now and send them instant messages. You can publicize your gtalk id and chat with your readers.

7. Photo of the Minute - Grabs a new latest photo from Flickr. Remove the photo info to optimize the size better. There are lots of gadgets that can rotate an interesting photo, graffiti, captions or cartoons. Try the National Geographic daily photo, Photos from Flickr etc.

8. Google Calendar - If you mark your blogging events on a Google calendar and share your public calendar, then why not add it to your blog and publicize the events you track. Grab this official widget and never miss a event.

9. Dilbert widget - Dilbert cartoon strip is a daily read that will bring a smile on your visitors face. Grab the official widget, resize it and load the daily Dilbert color comic strips and ranking. Or opt for a random Dilbert strip.

10. Date & Time - Some people like to place a widget displaying the date, time and calendar. Add a clock to your page. Click edit to change it to the color of your choice. Narrow the width to remove the calendar.

How to add a Google Gadgets?

Select the gadget you like, click the “Add to your webpage” button, edit the Display settings, Click to “Preview changes” and the click “Get the code” button to generate the HTML. Copy and paste the HTML into your webpage’s source code and behold and surprise your visitors. Remember that most gadgets can be easily resized by dragging the window from the bottom right corner, before you decide the final size.

Got more time? here are all the Google Gadgets For Your Webpage. Let me know of other gadgets that deserve to be listed here and I will add them.