IDBI Bank announced that it has tied up with Venture Infotek, a transaction management firm, to unveil its internet payment gateway services.
IDBI Bank announced that it has tied up with Venture Infotek, a transaction management firm, to unveil its internet payment gateway services.Venture Infotek's 'Eazy2Pay' secures all transactions using Triple Data Encryption Standard (3DES) keys to encrypt cardholders' information and Merchant Plug-In (MPI) to facilitate 3D-secure verifications.
Wednesday, April 7, 2010
CEO of Yureekah bats for KKR
Vishal Sharma,Founder & CEO,Yureekah,believes that his favorite Kolkata Knight riders have the grit and spirit.
Rising frauds in corporate India to be dealt firmly: KPMG
The overall incidence of fraud is rising in corporate India in the last two years and there is a need for Indian firms to deal with fraud risks firmly, according to the KPMG Fraud Survey Report 2010. The report also states that the financial services and consumer markets industry segments specifically, see a higher level of fraudulent activities within their industry.
Financial statement fraud emerges as a major issue for investors. An overwhelming 81 percent of the respondents of the survey perceive financial statement fraud as a major issue in India.
Financial statement fraud emerges as a major issue for investors. An overwhelming 81 percent of the respondents of the survey perceive financial statement fraud as a major issue in India.
Monday, April 5, 2010
Key points to know before investing in FDs
Over the past one year, it is witnessed that fixed deposit interest rates from nationalized banks have gone down from 8-9 percent to around 6-6.5 percent now for a period of 1-3 years.
Aseem Dhru, Managing Director and CEO of HDFC Securities, which has recently started distributing company fixed deposits, said, "With fixed deposit rates from banks coming down, investors seeking higher returns from fixed income products are investing in company fixed deposits."
Here are some key points one needs to know while investing in company fixed deposits:
Security
Company fixed deposits are unsecured. In case of bank fixed deposits, the Deposit Insurance and Credit Guarantee Corporation of India guarantees repayment of Rs.1 lakh in case of default. There is no such guarantee offered in company deposits and the safety of your deposit depends on the financial position of the company.
This means, as a depositor, you have no lien on any asset of the company, in case it goes into financial difficulties and is wound up. Your turn to get your money back would come only when secured lenders have been paid. So do not invest in unknown companies.
Risk v/s return
Today, investors could expect around 5-8 percent from income funds, depending upon whether it's an ultra liquid fund or a long-dated income fund. Schemes like the post office NSC and PPF give you a eight percent return, but are locked in for six years and 15 years, respectively.
You can check with distributors or with friends about the credentials of the promoters and their past track record. Opt for companies that pay dividends and are profit making. Avoid loss-making companies or those who do not pay dividends. If a company has made a one-off exceptional loss in a particular year, but has a good parentage and past track record, you could consider it.
Liquidity
Most companies accept fixed deposits for a period ranging from 1-5 years. Compared to mutual funds or bank fixed deposits, company fixed deposits are rather illiquid. In most cases, premature withdrawal is not allowed before completion of three months. If one wishes you wish to withdraw between the third and the sixth month, you get zero interest income.
If one wishes to withdraw between the sixth and the 12th month, he/she gets three percent less than the guaranteed return
Aseem Dhru, Managing Director and CEO of HDFC Securities, which has recently started distributing company fixed deposits, said, "With fixed deposit rates from banks coming down, investors seeking higher returns from fixed income products are investing in company fixed deposits."
Here are some key points one needs to know while investing in company fixed deposits:
Security
Company fixed deposits are unsecured. In case of bank fixed deposits, the Deposit Insurance and Credit Guarantee Corporation of India guarantees repayment of Rs.1 lakh in case of default. There is no such guarantee offered in company deposits and the safety of your deposit depends on the financial position of the company.
This means, as a depositor, you have no lien on any asset of the company, in case it goes into financial difficulties and is wound up. Your turn to get your money back would come only when secured lenders have been paid. So do not invest in unknown companies.
Risk v/s return
Today, investors could expect around 5-8 percent from income funds, depending upon whether it's an ultra liquid fund or a long-dated income fund. Schemes like the post office NSC and PPF give you a eight percent return, but are locked in for six years and 15 years, respectively.
You can check with distributors or with friends about the credentials of the promoters and their past track record. Opt for companies that pay dividends and are profit making. Avoid loss-making companies or those who do not pay dividends. If a company has made a one-off exceptional loss in a particular year, but has a good parentage and past track record, you could consider it.
Liquidity
Most companies accept fixed deposits for a period ranging from 1-5 years. Compared to mutual funds or bank fixed deposits, company fixed deposits are rather illiquid. In most cases, premature withdrawal is not allowed before completion of three months. If one wishes you wish to withdraw between the third and the sixth month, you get zero interest income.
If one wishes to withdraw between the sixth and the 12th month, he/she gets three percent less than the guaranteed return
Fujifilm launches series of digital cameras in India
FUJIFILM India has announced the launch and availability of 14 digital camera models into the Indian market. FUJIFILM has launched four new models of its 'A series' compacts (AV100, AV150, AX200 & AX250) featuring high definition (HD) image and video capture for the first time on entry-level cameras.
These are easy-to-use and are ideal for people who are investing in their first digital camera. Offering a combination of various mega pixel resolutions, Fujinon zoom lenses and LCD screen sizes, consumers will be able to choose a camera that perfectly suits their needs and budget, one that features all of FUJIFILM's advanced technologies such as Automatic Scene Recognition, Face Detection, Digital Image Stabilization, high ISO sensitivity levels, Picture Search (as per the scene mode), and Panorama Shooting Mode which allows users to stitch three photos together to create a panoramic image (perfect for wide landscapes, tall buildings or large groups of people).
FUJIFILM has also launched four sleek models of its 'J series' family cameras (JV100, JV150, JX200 & JX250) that come with sculpted and sophisticated looks, and enable users to shoot images in HD. These cameras are loaded with advanced features like razor sharp Fujinon zoom lenses, Scene Recognition Auto, Panorama Shooting Mode, Movie Mode with Sound, Picture Search etc. The Smile & Shoot Mode works with FUJIFILM's highly-acclaimed Face Detection technology to detect smiles on faces. It will not take a picture until it detects a smile. Another new feature is Blink Detection which warns users if they have captured an image with people blinking, so that they can re-shoot if necessary. The newly launched JV and JX models have a new feature - Targeting AF - which is perfect in case users need to take a picture of a moving subject and can't keep the subject in the frame. As and when Targeting AF is switched on, it tracks the subject and ensures pictures with the subject in the centre of the frame in perfect focus.
These are easy-to-use and are ideal for people who are investing in their first digital camera. Offering a combination of various mega pixel resolutions, Fujinon zoom lenses and LCD screen sizes, consumers will be able to choose a camera that perfectly suits their needs and budget, one that features all of FUJIFILM's advanced technologies such as Automatic Scene Recognition, Face Detection, Digital Image Stabilization, high ISO sensitivity levels, Picture Search (as per the scene mode), and Panorama Shooting Mode which allows users to stitch three photos together to create a panoramic image (perfect for wide landscapes, tall buildings or large groups of people).
FUJIFILM has also launched four sleek models of its 'J series' family cameras (JV100, JV150, JX200 & JX250) that come with sculpted and sophisticated looks, and enable users to shoot images in HD. These cameras are loaded with advanced features like razor sharp Fujinon zoom lenses, Scene Recognition Auto, Panorama Shooting Mode, Movie Mode with Sound, Picture Search etc. The Smile & Shoot Mode works with FUJIFILM's highly-acclaimed Face Detection technology to detect smiles on faces. It will not take a picture until it detects a smile. Another new feature is Blink Detection which warns users if they have captured an image with people blinking, so that they can re-shoot if necessary. The newly launched JV and JX models have a new feature - Targeting AF - which is perfect in case users need to take a picture of a moving subject and can't keep the subject in the frame. As and when Targeting AF is switched on, it tracks the subject and ensures pictures with the subject in the centre of the frame in perfect focus.
Thursday, March 25, 2010
37 U.S. banks closed in 2010
Even though the global economy is said to be on the recovery path, 37 American banks shut their door in 2010, an average of 12 entities going bust every month.
It is witnessed that high unemployment levels are resulting in increased defaults, in turn severely hitting the small and medium banks. The seven banks that collapsed on March 19, 2010 are State Bank of Aurora, First Lowndes Bank, Bank of Hiawassee, Appalachian Community Bank, Advanta Bank Corp, Century Security Bank and American National Bank.
According to Federal Deposit Insurance, the failure of seven banks would cost the agency as much as $1.28 billion. The FDIC insures deposits at more than 8,000 banks and also acts as a caretaker of failed entities. Indicating the severity of the financial crisis, a whopping 191 banks have been closed down by the authorities since the fall of Wall Street major Lehman Brothers in September 2008.
It is witnessed that high unemployment levels are resulting in increased defaults, in turn severely hitting the small and medium banks. The seven banks that collapsed on March 19, 2010 are State Bank of Aurora, First Lowndes Bank, Bank of Hiawassee, Appalachian Community Bank, Advanta Bank Corp, Century Security Bank and American National Bank.
According to Federal Deposit Insurance, the failure of seven banks would cost the agency as much as $1.28 billion. The FDIC insures deposits at more than 8,000 banks and also acts as a caretaker of failed entities. Indicating the severity of the financial crisis, a whopping 191 banks have been closed down by the authorities since the fall of Wall Street major Lehman Brothers in September 2008.
Monday, March 22, 2010
'Spy in sky' can pinpoint car even in busy traffic
Military scientists in the US are developing what they claim is a "spy in the sky" — a remote-controlled airborne detection system which can bounce radar off buildings to follow a vehicle through a city.
Pentagon's Defence Advanced Research Projects Agency is developing the new radar system which sees around corners and down into "urban canyons" — in fact, it can track vehicles across an entire city using just a few uncrewed aircraft.
Pentagon's Defence Advanced Research Projects Agency is developing the new radar system which sees around corners and down into "urban canyons" — in fact, it can track vehicles across an entire city using just a few uncrewed aircraft.
The agency is exploring how Multipath Exploitation Radar (MER) might work by driving vehicles around a simulated urban area and collecting returns from an overhead radar.
The scientists are aiming to combine the radar data with a three-dimensional map of the test environment to calculate how the radar reflects off and between vehicles and buildings. This process should highlight which signals in the returning radar data can be used to plot the target vehicle's path.
Pentagon's Defence Advanced Research Projects Agency is developing the new radar system which sees around corners and down into "urban canyons" — in fact, it can track vehicles across an entire city using just a few uncrewed aircraft.
Pentagon's Defence Advanced Research Projects Agency is developing the new radar system which sees around corners and down into "urban canyons" — in fact, it can track vehicles across an entire city using just a few uncrewed aircraft.
The agency is exploring how Multipath Exploitation Radar (MER) might work by driving vehicles around a simulated urban area and collecting returns from an overhead radar.
The scientists are aiming to combine the radar data with a three-dimensional map of the test environment to calculate how the radar reflects off and between vehicles and buildings. This process should highlight which signals in the returning radar data can be used to plot the target vehicle's path.
Auto edit: DVD player to censor movies at home
American scientists have developed a new technology that can censor all potentially offensive scenes of a movie, making it watchable with children at home.
The patented technology — an electronic film filter called the ClearPlay system — can be integrated into the next generation of DVD players to skip and mute content based on seven categories that can be set to meet viewing preferences. These included violence, blood, nudity, sex, swearing, blasphemy and offensive content, the Daily Mail reported.
Many films, especially those that are rated 15, lend themselves to such treatment because their rating is based on only one or two brief scenes which can be edited without spoiling the rest of the movie.
Andrew Duncan, the head of ClearPlay International, said: "We know from our research that parents are concerned about inappropriate content but don't like conflicts around censorship at home. Our system effectively ends the important but tiresome debates."
DVD players with ClearPlay technology will be on sale in the UK in July, but households can now download it online for a cost of about £1 a week. Filters will be available for hundreds of films already out and will be ready for new films within 48 hours of their DVD release. Players that can use the new technology will be about the same price as current machines.
The company says the sort of films the system will work with include 'Love Actually', 'Atonement', 'The Matrix and Sweeney Todd'. All contain scenes which ClearPlay bosses say can be edited without ruining the whole film.
The system has been developed by a team of American scientists which had earlier invented VideoPlus, the system which simplified recording of television programmes.
ClearPlay director Skip Riddle said: "Clearly there are some films that don't lend themselves to filtering but the vast majority do. Often the aspects of a film that give it a 15 certificate are connected with a few very short sequences."
The patented technology — an electronic film filter called the ClearPlay system — can be integrated into the next generation of DVD players to skip and mute content based on seven categories that can be set to meet viewing preferences. These included violence, blood, nudity, sex, swearing, blasphemy and offensive content, the Daily Mail reported.
Many films, especially those that are rated 15, lend themselves to such treatment because their rating is based on only one or two brief scenes which can be edited without spoiling the rest of the movie.
Andrew Duncan, the head of ClearPlay International, said: "We know from our research that parents are concerned about inappropriate content but don't like conflicts around censorship at home. Our system effectively ends the important but tiresome debates."
DVD players with ClearPlay technology will be on sale in the UK in July, but households can now download it online for a cost of about £1 a week. Filters will be available for hundreds of films already out and will be ready for new films within 48 hours of their DVD release. Players that can use the new technology will be about the same price as current machines.
The company says the sort of films the system will work with include 'Love Actually', 'Atonement', 'The Matrix and Sweeney Todd'. All contain scenes which ClearPlay bosses say can be edited without ruining the whole film.
The system has been developed by a team of American scientists which had earlier invented VideoPlus, the system which simplified recording of television programmes.
ClearPlay director Skip Riddle said: "Clearly there are some films that don't lend themselves to filtering but the vast majority do. Often the aspects of a film that give it a 15 certificate are connected with a few very short sequences."
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