MEDICAL EXPENSES - BIG DISCOUNT
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http://www.megamedicaldiscount.com/
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What Is a Discount Medical Card?
Many people are familiar with dental, vision, or prescription drug discount cards. The MediProHealth card is similar, except it offers discounts on a much broader range of health care benefits. It can be used for doctor visits, hospitals, lab tests, Hearing and more.
How Does The MediProHealth Card Program Work?
First and foremost, it is important to understand that The MediProHealth Card Program is NOT insurance... It does not pay claims for medical services. MediProHealth has affiliations with nationwide discount healthcare networks. These networks have negotiated special fees with hundreds of thousands of healthcare providers. These special fees are a fraction of the regular fees and are passed along to our cardholders. Cardholders routinely save anywhere from 10% to 60% on all procedures and products.
Cardholders pay a low monthly fee to access these discounts. However, they may not receive the discount unless they pay for their lower priced health care in full, at the time of service.
Cardholders who need medical procedures that require hospitalization with fees that are difficult to determine in advance must follow program protocol covering these situations to make certain they receive the proper discounts.
Is a Discount MediProHealth Program Right For You?
If like so many people today, you do not have health insurance, a discount program could be your answer. If the cost of the program is less than the savings a family receives by using the program then Discount Health makes sense.
MediProHealth is NOT insurance... It can offer financial relief only to the extent of the discount offered on medical costs associated with an injury or illness. To receive discounts, MediProHealth Cardholders are responsible for all out-of-pocket charges whenever they require health care services.
Many people who are unable to pay for high cost insurance health coverage have found discount health programs helpful.Before you register:
Make sure that the Discount MediProHealth Card offers the services you are likely to need. Make sure you understand how much you will be charged for, including monthly and one-time fees. Read the Terms and Conditions. .
Wednesday, April 30, 2008
Tuesday, April 29, 2008
PROFIT SHARING PLAN DESIGN
http://findarticles.com/p/articles/mi_m5072/is_n11_v18/ai_18661280
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Business Services Industry
New comparability - a new concept in profit sharing plan design
Los Angeles Business Journal, March 11, 1996 by Jeffrey D. Poland
Over the years, many thousands of organizations have maintained profit sharing plans, which are the least complex type of retirement plan. Under a profit sharing plan, an employer's contribution can be allocated to the eligible participants in one of several ways. In the simplest case, an employer contributes a specified percentage of the pay - e.g., 4% or 5% - of each employee. Under an "integrated" approach, an employer contributes a higher percentage of pay above the Social Security Wage Base ($62,700 in 1996) than of pay at or below the Wage Base. Another variation allows an employer, to a limited extent, to weight the contribution percentage by participants' length of employment, i.e., a "points" method of allocation. Regardless of the method, the internal Revenue Code limits the annual contribution per participant to the lesser of $30,000 or 25% of pay.Employers like the flexibility of profit sharing plans because of the discretion they have to vary the amount contributed for any year. This is in contrast to defined benefit pension plans, which require contributions of actuarially determined amounts. An employer's contribution to a profit sharing plan can range for any year from zero to the maximum tax-deductible amount of 15% of the total pay of the participating employees. Moreover, despite the "profit sharing" designation, contributions do not have to be tied to profits in any way. Also, unlike most defined benefit pension plans, profit sharing plans are not under the jurisdiction of the Pension Benefit Guaranty Corporation and do not have to pay premiums to that agency.
From the perspective of many employers, a significant disadvantage of profit sharing plans has been the inability to weight contributions in favor of key employees to any significant extent. Legislation effective in 1994 exacerbated this situation by capping at $150,000 the amount of an individual's pay on which contributions can be based. Here is where an "age-weighted" basis for allocating the contribution (i.e., a "New Comparability" plan) can be the answer, under the right circumstances.
The circumstances are right when the key people are older, on average, than the balance of the employer's work force. In other words, a New Comparability plan works something like a defined benefit pension plan, but without its disadvantages, by availing itself of the "cross-testing" provisions of the IRS nondiscrimination regulations. In summary, for nondiscrimination testing purposes an employee's annual profit sharing contribution, accumulated with interest to age 65, is converted to a pension payable at age 65 - by using an annuity factor to "convert" that contribution plus accumulated interest to an equivalent dollar amount of annuity, or pension, payable commencing at age 65. Each "equivalent" pension is expressed as a percentage of the participant's pay. Then, the percentages for higher-paid participants are compared to the percentages for other participants. If the difference between the percentages for the two groups is within prescribed nondiscriminatory bounds, all is well.
This cross-testing approach benefits older employees simply because of the power of compound interest. For example, a $900 contribution made for a 30-year-old employee will accumulate to $15,600 by the time the individual reaches age 65, assuming an 8.5% annual compound interest rate (which is in the range of interest rates permitted by IRS). To reach an accumulation of $15,600 at age 65, the contribution for a 55-year-old employee would have to be $6,900 at an 8.5% interest rate. Using one of the annuity factors prescribed by IRS regulations, $15,600 at age 65 would purchase an annual pension of $2,000.
Let's assume that the 55-year-old earns $150,000 and the 30-year-old earns $30,000. Then, an annual pension of $2,000 represents 6.7% of the 30-year-old's pay, but only 1.3% of the 55-year- old's pay. These are the percentages one looks at in applying the cross-testing provisions. To make it simple, let's assume that we increase the contribution for the 55-year-old so that the equivalent annuity at age 65 is exactly 6.7% of pay. This translates into a contribution of $34,500, which has to be reduced so as not to exceed the annual limit of $30,000. Thus, by the power of compound interest, a contribution of $30,000 for the 55-year-old (20% of pay) is equivalent to a $900 contribution for the 30-year old (3% of his pay) and satisfies the IRS regulations.
Use of the New Comparability basis results in two significant accomplishments for the employer: (1) contributions for the key persons are increased to the maximum amount of $30,000 (when contributions are integrated with Social Security the employer's total tax-deductible contribution of $98,700 (i.e., 15% of the total pay of $658,000) is not sufficient for the allocation process to produce $30,000 for each of the key persons); and (2) contributions for rank-and-file employees are decreased.
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JEFFREY D. POLAND IS A CONSULTING ACTUARY WITH HIRSCHFELD, STERN, MOYER & ROSS, INC. ROCKEFELLER CENTER, NEW YORK, NY 10020
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Business Services Industry
New comparability - a new concept in profit sharing plan design
Los Angeles Business Journal, March 11, 1996 by Jeffrey D. Poland
Over the years, many thousands of organizations have maintained profit sharing plans, which are the least complex type of retirement plan. Under a profit sharing plan, an employer's contribution can be allocated to the eligible participants in one of several ways. In the simplest case, an employer contributes a specified percentage of the pay - e.g., 4% or 5% - of each employee. Under an "integrated" approach, an employer contributes a higher percentage of pay above the Social Security Wage Base ($62,700 in 1996) than of pay at or below the Wage Base. Another variation allows an employer, to a limited extent, to weight the contribution percentage by participants' length of employment, i.e., a "points" method of allocation. Regardless of the method, the internal Revenue Code limits the annual contribution per participant to the lesser of $30,000 or 25% of pay.Employers like the flexibility of profit sharing plans because of the discretion they have to vary the amount contributed for any year. This is in contrast to defined benefit pension plans, which require contributions of actuarially determined amounts. An employer's contribution to a profit sharing plan can range for any year from zero to the maximum tax-deductible amount of 15% of the total pay of the participating employees. Moreover, despite the "profit sharing" designation, contributions do not have to be tied to profits in any way. Also, unlike most defined benefit pension plans, profit sharing plans are not under the jurisdiction of the Pension Benefit Guaranty Corporation and do not have to pay premiums to that agency.
From the perspective of many employers, a significant disadvantage of profit sharing plans has been the inability to weight contributions in favor of key employees to any significant extent. Legislation effective in 1994 exacerbated this situation by capping at $150,000 the amount of an individual's pay on which contributions can be based. Here is where an "age-weighted" basis for allocating the contribution (i.e., a "New Comparability" plan) can be the answer, under the right circumstances.
The circumstances are right when the key people are older, on average, than the balance of the employer's work force. In other words, a New Comparability plan works something like a defined benefit pension plan, but without its disadvantages, by availing itself of the "cross-testing" provisions of the IRS nondiscrimination regulations. In summary, for nondiscrimination testing purposes an employee's annual profit sharing contribution, accumulated with interest to age 65, is converted to a pension payable at age 65 - by using an annuity factor to "convert" that contribution plus accumulated interest to an equivalent dollar amount of annuity, or pension, payable commencing at age 65. Each "equivalent" pension is expressed as a percentage of the participant's pay. Then, the percentages for higher-paid participants are compared to the percentages for other participants. If the difference between the percentages for the two groups is within prescribed nondiscriminatory bounds, all is well.
This cross-testing approach benefits older employees simply because of the power of compound interest. For example, a $900 contribution made for a 30-year-old employee will accumulate to $15,600 by the time the individual reaches age 65, assuming an 8.5% annual compound interest rate (which is in the range of interest rates permitted by IRS). To reach an accumulation of $15,600 at age 65, the contribution for a 55-year-old employee would have to be $6,900 at an 8.5% interest rate. Using one of the annuity factors prescribed by IRS regulations, $15,600 at age 65 would purchase an annual pension of $2,000.
Let's assume that the 55-year-old earns $150,000 and the 30-year-old earns $30,000. Then, an annual pension of $2,000 represents 6.7% of the 30-year-old's pay, but only 1.3% of the 55-year- old's pay. These are the percentages one looks at in applying the cross-testing provisions. To make it simple, let's assume that we increase the contribution for the 55-year-old so that the equivalent annuity at age 65 is exactly 6.7% of pay. This translates into a contribution of $34,500, which has to be reduced so as not to exceed the annual limit of $30,000. Thus, by the power of compound interest, a contribution of $30,000 for the 55-year-old (20% of pay) is equivalent to a $900 contribution for the 30-year old (3% of his pay) and satisfies the IRS regulations.
Use of the New Comparability basis results in two significant accomplishments for the employer: (1) contributions for the key persons are increased to the maximum amount of $30,000 (when contributions are integrated with Social Security the employer's total tax-deductible contribution of $98,700 (i.e., 15% of the total pay of $658,000) is not sufficient for the allocation process to produce $30,000 for each of the key persons); and (2) contributions for rank-and-file employees are decreased.
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JEFFREY D. POLAND IS A CONSULTING ACTUARY WITH HIRSCHFELD, STERN, MOYER & ROSS, INC. ROCKEFELLER CENTER, NEW YORK, NY 10020
Monday, April 28, 2008
Brain Teaser (Mail from ஸ்ரீ P V ஸ்ரீனிவாசன்)
(Mail from ஸ்ரீ P V ஸ்ரீனிவாசன்)
Test for Dementia
Below are four ( 4 ) questions and a bonus question. You have to answer them instantly. You can't take your time, answer all of them immediately. OK?
Let's find out just how clever you really are....
First Question:
Y ou are participating in a race. You overtake the second person. What position are you in?
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Answer: If you answered that you are first, then you are absolutely wrong! If you overtake the second person and you take his place, you are second!
Try not to screw up next time. Now answer the second question, but don't take as much time as you took for the first question, OK?
Second Question:
If you overtake the last person, then you are...? (scroll down)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Answer: If you answered that you are second to last, then you are wrong again. Tell me, how can you overtake the LAST person?
You're not very good at this, are you?
Third Question:
V ery tricky arithmetic! Note: This must be done in your head only . Do NOT use paper and pencil or a calculator. Try it.
Take 1000 and add 40 to it. Now add another 1000 . Now add 30. Add another 1000. Now add 20. Now add another 1000. Now add 10. What is the t! otal?
Scroll down for answer.....
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Did you get 5000 ?
The correct answer is actually 4100.
If you don't believe it, check it with a calculator! Today is definitely not your day, is it? Maybe you'll get the last question right... Maybe.
Fourth Question:
Mary's father has five daughters: 1. Nana, 2. Nene, 3. Nini, 4. Nono. What is the name of the fifth daughter?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Did you Answer Nunu? NO! Of course it isn't.
Her name is Mary. Read the question again!
Okay, now the bonus round:
A mute person goes into a shop and wants to buy a toothbrush. By imitating the action of brushing his teeth he successfully expresses himself to the shopkeeper and the purchase is done.
Next, a blind man comes into the shop who wants to buy a pair of sunglasses; how does HE indicate what he wants?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
He just has to open his mouth and ask...
It's really very simple.
PASS TH IS ON TO FRUSTRATE THE
SMART PEOPLE IN YOUR LIFE!
Have a nice day everyone
How dumb am I!
Test for Dementia
Below are four ( 4 ) questions and a bonus question. You have to answer them instantly. You can't take your time, answer all of them immediately. OK?
Let's find out just how clever you really are....
First Question:
Y ou are participating in a race. You overtake the second person. What position are you in?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Answer: If you answered that you are first, then you are absolutely wrong! If you overtake the second person and you take his place, you are second!
Try not to screw up next time. Now answer the second question, but don't take as much time as you took for the first question, OK?
Second Question:
If you overtake the last person, then you are...? (scroll down)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Answer: If you answered that you are second to last, then you are wrong again. Tell me, how can you overtake the LAST person?
You're not very good at this, are you?
Third Question:
V ery tricky arithmetic! Note: This must be done in your head only . Do NOT use paper and pencil or a calculator. Try it.
Take 1000 and add 40 to it. Now add another 1000 . Now add 30. Add another 1000. Now add 20. Now add another 1000. Now add 10. What is the t! otal?
Scroll down for answer.....
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Did you get 5000 ?
The correct answer is actually 4100.
If you don't believe it, check it with a calculator! Today is definitely not your day, is it? Maybe you'll get the last question right... Maybe.
Fourth Question:
Mary's father has five daughters: 1. Nana, 2. Nene, 3. Nini, 4. Nono. What is the name of the fifth daughter?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Did you Answer Nunu? NO! Of course it isn't.
Her name is Mary. Read the question again!
Okay, now the bonus round:
A mute person goes into a shop and wants to buy a toothbrush. By imitating the action of brushing his teeth he successfully expresses himself to the shopkeeper and the purchase is done.
Next, a blind man comes into the shop who wants to buy a pair of sunglasses; how does HE indicate what he wants?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
He just has to open his mouth and ask...
It's really very simple.
PASS TH IS ON TO FRUSTRATE THE
SMART PEOPLE IN YOUR LIFE!
Have a nice day everyone
How dumb am I!
Sunday, April 27, 2008
ஐ சி ஐ சி ஐ பா ங் கு
ICICI Bank makes additional $45 mn provisioning
BS Reporter / Mumbai April 27, 2008
Bank suffers MTM losses on credit derivatives exposure; Q4 net profit rises 39 per cent.
ICICI Bank today said it has made additional provisions of around $45 million (Rs 180 crore) for mark-to-market losses (MTM) on its credit derivative obligations (CDOs) and credit-linked note (CLN) portfolio during February and March 2008. This takes the bank's total provision for these instruments to $170 million (Rs 680 crore) during the year.
QUARTER GAINFinancial parameters for the March quarter
Rs crore
2007
2008
% chg
Interest earned
6395.93
8029.27
25.54
Other income
2099.59
2361.65
12.48
Total expenditure
6707.45
8100.26
20.77
Net profit
825.12
1149.84
39.35
Deposit
230510.19
244431.05
6.04
Advances
195865.60
225616.08
15.19
"We have no sub-prime assets but only exposure to CDOs and CLNs. We have seen no deterioration of our portfolio. The provisioning is only for the MTM losses due to widening of credit spreads. In fact, post March 31, the credit spreads have tightened and we have made a saving of $16 million (Rs 64 crore)," Chanda Kochhar, joint managing director and chief financial officer, said.
For the fourth quarter of 2007-08, India's largest private bank reported a 39 per cent growth in net profit to Rs 1,150 crore, as against Rs 825 crore in the corresponding period last year.
ICICI Bank's total exposure to CLNs and CDOs was estimated at $1.6 billion (Rs 4,240 crore), comprising 70 per cent of Indian corporates.
Credit derivatives are instruments for which the underlying asset is a loan or a bond. Marking to market means valuing a portfolio based on the prevailing market price.
Despite this, the bank has seen an 8 per cent rise in provisions during the fourth quarter to Rs 948 crore, as against Rs 876 crore during January-March 2007. Most of the other private sector banks, such as Axis Bank and HDFC Bank, have seen significant rise in non-tax provisions and contingencies mainly due to provisions for derivatives. ICICI Bank, however, did not disclose the details of its derivative deals.
Asked about the cases filed by companies related to the derivative deals, Kochhar said, "Corporates take derivative products to hedge their exposure. Some corporate clients have taken a mark-to-market loss.
The bank does not disclose any profits or losses incurred by its clients. There are a few cases which are under dispute and the bank has made adequate provisions for it."
The bank's treasury income dipped 63 per cent to Rs 164 crore during the quarter, as against Rs 445 crore in the corresponding quarter last year. Other income is up 12 per cent to Rs 2,361 crore.
Fee income increased 32 per cent to Rs 6,627 crore from Rs 5,012 crore. Of the total fee income, retail and small and medium enterprises contributed around 52 per cent and the balance came from overseas operations.
Foreign operations account for about 25 per cent of the bank's business.
The bank's portfolio of advances grew 15.2 per cent while the retail book grew 3.1 per cent year-on-year. Advances through overseas branches increased 95.6 per cent and others by 5.6 per cent. ICICI Bank has sold close to Rs 14,000 crore worth of retail loans across product categories across the year.
The bank's net interest margin stood at 2.40 per cent as against 2.28 per cent in the corresponding quarter last year. Its cost of funds has eased to 7.4 per cent from 7.5 per cent. Net non-performing assets to advances increased to 1.55 per cent from 1.02 per cent. Its capital adequacy ratio stood at 13.97 per cent.
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ICICI Bank's PAT crosses US$ 1.0bn
2008-04-26 16:30:05
Email Print Version
The Board of Directors of ICICI Bank Limited (NYSE: IBN) at its meeting held at Mumbai today, approved the audited accounts of the Bank for the year ended March 31, 2008 (FY2008).
Highlights
• Profit after tax for the quarter ended March 31, 2008 (Q4-2008) increased 39% to Rs. 1,150 crore (US$ 287 million) from Rs. 825 crore (US$ 206 million) for the quarter ended March 31, 2007 (Q4-2007).
• Profit after tax for FY2008 increased 34% to Rs. 4,158 crore (US$ 1.0 billion) from Rs. 3,110 crore (US$ 775 million) for the year ended March 31, 2007 (FY2007).
• Net interest income increased 30% to Rs. 7,304 crore (US$ 1.8 billion) for FY2008 from Rs. 5,637 crore (US$ 1.4 billion) for FY2007.
• Fee income increased 32% to Rs. 6,627 crore (US$ 1.7 billion) for FY2008 from Rs. 5,012 (US$ 1.2 billion) for FY2007.
• Current and savings account (CASA) deposits ratio increased to 26% at March 31, 2008 from 22% at March 31, 2007.
• At March 31, 2008, ICICI Bank and its subsidiaries had consolidated total assets of Rs. 485,830 crore (US$ 121.1 billion).
Dividend on equity shares
The Board has recommended a dividend of 110% for FY2008 i.e. Rs. 11 per equity share (equivalent to US$ 0.55 per ADS) as compared to 100% for FY2007. The declaration and payment of dividend is subject to requisite approvals. The record/book closure dates shall be announced in due course.
Operating review
Deposit growth
Current and savings account deposits increased 27% to Rs. 63,781 crore (US$ 15.9 billion) at March 31, 2008 from Rs. 50,214 crore (US$ 12.5 billion) at March 31, 2007 and constituted 26% of total deposits at March 31, 2008 compared to 22% at March 31, 2007. The Bank is significantly expanding its branch network to expand its reach and further enhance its deposit franchise. At April 23, 2008 the Bank had 1,308 branches and extension counters as compared to 755 branches and extension counters at March 31, 2007. This increase of 553 branches and extension counters includes about 190 branches on account of the merger of Sangli Bank.
The Bank had 3,950 ATMs at April 23, 2008.
Credit growth
Consolidated advances of the Bank and its overseas banking subsidiaries and ICICI Home Finance Company increased 19% to Rs. 252,071 crore (US$ 62.8 billion) at March 31, 2008 from Rs. 211,660 crore (US$ 52.8 billion) at March 31, 2007. This reflects robust growth in the loan book of the Bank's international branches, its international subsidiaries and ICICI Home Finance Company.
International operations
ICICI Bank's international business is focused on:
• Building a retail deposit base which gives the Bank access to low cost deposits on sustainable basis: Aggregate retail deposits of ICICI Bank UK and Canada increased 90% from Rs. 15,740 crore (US$ 3.9 billion) at March 31, 2007 to Rs. 29,861 crore (US$ 7.4 billion) at March 31,
2008.
• Building a global syndication network which enables the Bank to syndicate its foreign currency assets across a wide variety of investors: The Bank was ranked #1 in offshore loan syndications of Indian corporates in 2007.
• Being the preferred advisor and financier for overseas acquisitions of Indian corporates
• Achieving the status of the preferred bank for non-resident Indians in key markets of UK and Canada.
ICICI Bank UK PLC achieved profit after tax of Rs. 155 crore (US$ 38.4 million) for FY2008 and increased its balance sheet by 80% to Rs. 35,300 crore (US$ 8.8 billion) at March 31, 2008. Its retail deposit base almost doubled to Rs. 17,250 crore (US$ 4.3 billion) on the back of the successful internet savings product and a 25% penetration in the bankable Indian community.
At March 31, 2008 the Bank's international operations accounted for about 25% of its consolidated banking assets.
Capital adequacy
The Bank's capital adequacy at March 31, 2008 as per Reserve Bank of India's revised guidelines on Basel II norms was 13.97% (including Tier-1 capital adequacy of 11.76%), well above RBI's requirement of total capital adequacy of 9.0%. At March 31, 2008, the capital adequacy ratios of ICICI Bank's UK and Canada subsidiaries were 18.6% and 22.9% respectively.
Asset quality
At March 31, 2008, the Bank's net non-performing assets constituted 1.49% of net customer assets.
Performance highlights of key non-banking subsidiaries
ICICI Prudential Life Insurance Company (ICICI Life) significantly increased its overall market share from 9.9% in FY2007 to 13.1% during April-February 2008 on the basis of retail new business weighted received premiums. ICICI Life's new business weighted received premium increased by 68% in FY2008 compared to industry growth of 37% during April-February 2008. The growing operations of ICICI Life had a negative impact of Rs. 1,032 crore (US$ 257 million) on the consolidated profit after tax of ICICI Bank in FY2008. However, ICICI Life's unaudited New Business Profit (NBP) in FY2008 was Rs. 1,254 crore (US$ 313 million). The assets held by ICICI Life increased from about Rs. 15,818 crore (US$ 3.9 billion) at March 31, 2007 to Rs. 28,578 crore (US$ 7.1 billion) at March 31, 2008.
ICICI Lombard General Insurance Company (ICICI General) maintained its overall market share of 12.3% during April-February 2008. ICICI General's premiums increased 11.4% to Rs. 3,345 crore (US$ 834 million) in FY2008 despite the impact of de-tariffing. ICICI General's profit after tax increased by 51% to Rs. 103 crore (US$ 26 million) in FY2008 from Rs. 68 crore (US$ 17 million) in FY2007.
ICICI Securities' unconsolidated revenues and profit after tax for FY2008 were Rs. 750 crore (US$ 187 million) and Rs. 150 crore (US$ 37 million) respectively. ICICI Securities Primary Dealership's profit after tax for FY2008 was Rs. 140 crore (US$ 35 million).
ICICI Prudential Asset Management Company's (ICICI AMC) average mutual fund assets under management was Rs. 54,355 crore (US$ 13.5 billion) in March 2008. ICICI AMC's profit after tax increased by 70% to Rs. 82 crore (US$ 20 million) in FY2008 from Rs. 48 crore (US$ 12 million) in FY2007.
ICICI Venture Funds Management Company (ICICI Venture) is the largest Indian private equity company with assets under management of about Rs. 9,550 crore (US$ 2.4 billion). ICICI Venture's profit after tax for the year ended March 31, 2008 was Rs. 90 crore (US$ 22 million).
Sourced From: ICICI Bank Ltd
BS Reporter / Mumbai April 27, 2008
Bank suffers MTM losses on credit derivatives exposure; Q4 net profit rises 39 per cent.
ICICI Bank today said it has made additional provisions of around $45 million (Rs 180 crore) for mark-to-market losses (MTM) on its credit derivative obligations (CDOs) and credit-linked note (CLN) portfolio during February and March 2008. This takes the bank's total provision for these instruments to $170 million (Rs 680 crore) during the year.
QUARTER GAINFinancial parameters for the March quarter
Rs crore
2007
2008
% chg
Interest earned
6395.93
8029.27
25.54
Other income
2099.59
2361.65
12.48
Total expenditure
6707.45
8100.26
20.77
Net profit
825.12
1149.84
39.35
Deposit
230510.19
244431.05
6.04
Advances
195865.60
225616.08
15.19
"We have no sub-prime assets but only exposure to CDOs and CLNs. We have seen no deterioration of our portfolio. The provisioning is only for the MTM losses due to widening of credit spreads. In fact, post March 31, the credit spreads have tightened and we have made a saving of $16 million (Rs 64 crore)," Chanda Kochhar, joint managing director and chief financial officer, said.
For the fourth quarter of 2007-08, India's largest private bank reported a 39 per cent growth in net profit to Rs 1,150 crore, as against Rs 825 crore in the corresponding period last year.
ICICI Bank's total exposure to CLNs and CDOs was estimated at $1.6 billion (Rs 4,240 crore), comprising 70 per cent of Indian corporates.
Credit derivatives are instruments for which the underlying asset is a loan or a bond. Marking to market means valuing a portfolio based on the prevailing market price.
Despite this, the bank has seen an 8 per cent rise in provisions during the fourth quarter to Rs 948 crore, as against Rs 876 crore during January-March 2007. Most of the other private sector banks, such as Axis Bank and HDFC Bank, have seen significant rise in non-tax provisions and contingencies mainly due to provisions for derivatives. ICICI Bank, however, did not disclose the details of its derivative deals.
Asked about the cases filed by companies related to the derivative deals, Kochhar said, "Corporates take derivative products to hedge their exposure. Some corporate clients have taken a mark-to-market loss.
The bank does not disclose any profits or losses incurred by its clients. There are a few cases which are under dispute and the bank has made adequate provisions for it."
The bank's treasury income dipped 63 per cent to Rs 164 crore during the quarter, as against Rs 445 crore in the corresponding quarter last year. Other income is up 12 per cent to Rs 2,361 crore.
Fee income increased 32 per cent to Rs 6,627 crore from Rs 5,012 crore. Of the total fee income, retail and small and medium enterprises contributed around 52 per cent and the balance came from overseas operations.
Foreign operations account for about 25 per cent of the bank's business.
The bank's portfolio of advances grew 15.2 per cent while the retail book grew 3.1 per cent year-on-year. Advances through overseas branches increased 95.6 per cent and others by 5.6 per cent. ICICI Bank has sold close to Rs 14,000 crore worth of retail loans across product categories across the year.
The bank's net interest margin stood at 2.40 per cent as against 2.28 per cent in the corresponding quarter last year. Its cost of funds has eased to 7.4 per cent from 7.5 per cent. Net non-performing assets to advances increased to 1.55 per cent from 1.02 per cent. Its capital adequacy ratio stood at 13.97 per cent.
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ICICI Bank's PAT crosses US$ 1.0bn
2008-04-26 16:30:05
Email Print Version
The Board of Directors of ICICI Bank Limited (NYSE: IBN) at its meeting held at Mumbai today, approved the audited accounts of the Bank for the year ended March 31, 2008 (FY2008).
Highlights
• Profit after tax for the quarter ended March 31, 2008 (Q4-2008) increased 39% to Rs. 1,150 crore (US$ 287 million) from Rs. 825 crore (US$ 206 million) for the quarter ended March 31, 2007 (Q4-2007).
• Profit after tax for FY2008 increased 34% to Rs. 4,158 crore (US$ 1.0 billion) from Rs. 3,110 crore (US$ 775 million) for the year ended March 31, 2007 (FY2007).
• Net interest income increased 30% to Rs. 7,304 crore (US$ 1.8 billion) for FY2008 from Rs. 5,637 crore (US$ 1.4 billion) for FY2007.
• Fee income increased 32% to Rs. 6,627 crore (US$ 1.7 billion) for FY2008 from Rs. 5,012 (US$ 1.2 billion) for FY2007.
• Current and savings account (CASA) deposits ratio increased to 26% at March 31, 2008 from 22% at March 31, 2007.
• At March 31, 2008, ICICI Bank and its subsidiaries had consolidated total assets of Rs. 485,830 crore (US$ 121.1 billion).
Dividend on equity shares
The Board has recommended a dividend of 110% for FY2008 i.e. Rs. 11 per equity share (equivalent to US$ 0.55 per ADS) as compared to 100% for FY2007. The declaration and payment of dividend is subject to requisite approvals. The record/book closure dates shall be announced in due course.
Operating review
Deposit growth
Current and savings account deposits increased 27% to Rs. 63,781 crore (US$ 15.9 billion) at March 31, 2008 from Rs. 50,214 crore (US$ 12.5 billion) at March 31, 2007 and constituted 26% of total deposits at March 31, 2008 compared to 22% at March 31, 2007. The Bank is significantly expanding its branch network to expand its reach and further enhance its deposit franchise. At April 23, 2008 the Bank had 1,308 branches and extension counters as compared to 755 branches and extension counters at March 31, 2007. This increase of 553 branches and extension counters includes about 190 branches on account of the merger of Sangli Bank.
The Bank had 3,950 ATMs at April 23, 2008.
Credit growth
Consolidated advances of the Bank and its overseas banking subsidiaries and ICICI Home Finance Company increased 19% to Rs. 252,071 crore (US$ 62.8 billion) at March 31, 2008 from Rs. 211,660 crore (US$ 52.8 billion) at March 31, 2007. This reflects robust growth in the loan book of the Bank's international branches, its international subsidiaries and ICICI Home Finance Company.
International operations
ICICI Bank's international business is focused on:
• Building a retail deposit base which gives the Bank access to low cost deposits on sustainable basis: Aggregate retail deposits of ICICI Bank UK and Canada increased 90% from Rs. 15,740 crore (US$ 3.9 billion) at March 31, 2007 to Rs. 29,861 crore (US$ 7.4 billion) at March 31,
2008.
• Building a global syndication network which enables the Bank to syndicate its foreign currency assets across a wide variety of investors: The Bank was ranked #1 in offshore loan syndications of Indian corporates in 2007.
• Being the preferred advisor and financier for overseas acquisitions of Indian corporates
• Achieving the status of the preferred bank for non-resident Indians in key markets of UK and Canada.
ICICI Bank UK PLC achieved profit after tax of Rs. 155 crore (US$ 38.4 million) for FY2008 and increased its balance sheet by 80% to Rs. 35,300 crore (US$ 8.8 billion) at March 31, 2008. Its retail deposit base almost doubled to Rs. 17,250 crore (US$ 4.3 billion) on the back of the successful internet savings product and a 25% penetration in the bankable Indian community.
At March 31, 2008 the Bank's international operations accounted for about 25% of its consolidated banking assets.
Capital adequacy
The Bank's capital adequacy at March 31, 2008 as per Reserve Bank of India's revised guidelines on Basel II norms was 13.97% (including Tier-1 capital adequacy of 11.76%), well above RBI's requirement of total capital adequacy of 9.0%. At March 31, 2008, the capital adequacy ratios of ICICI Bank's UK and Canada subsidiaries were 18.6% and 22.9% respectively.
Asset quality
At March 31, 2008, the Bank's net non-performing assets constituted 1.49% of net customer assets.
Performance highlights of key non-banking subsidiaries
ICICI Prudential Life Insurance Company (ICICI Life) significantly increased its overall market share from 9.9% in FY2007 to 13.1% during April-February 2008 on the basis of retail new business weighted received premiums. ICICI Life's new business weighted received premium increased by 68% in FY2008 compared to industry growth of 37% during April-February 2008. The growing operations of ICICI Life had a negative impact of Rs. 1,032 crore (US$ 257 million) on the consolidated profit after tax of ICICI Bank in FY2008. However, ICICI Life's unaudited New Business Profit (NBP) in FY2008 was Rs. 1,254 crore (US$ 313 million). The assets held by ICICI Life increased from about Rs. 15,818 crore (US$ 3.9 billion) at March 31, 2007 to Rs. 28,578 crore (US$ 7.1 billion) at March 31, 2008.
ICICI Lombard General Insurance Company (ICICI General) maintained its overall market share of 12.3% during April-February 2008. ICICI General's premiums increased 11.4% to Rs. 3,345 crore (US$ 834 million) in FY2008 despite the impact of de-tariffing. ICICI General's profit after tax increased by 51% to Rs. 103 crore (US$ 26 million) in FY2008 from Rs. 68 crore (US$ 17 million) in FY2007.
ICICI Securities' unconsolidated revenues and profit after tax for FY2008 were Rs. 750 crore (US$ 187 million) and Rs. 150 crore (US$ 37 million) respectively. ICICI Securities Primary Dealership's profit after tax for FY2008 was Rs. 140 crore (US$ 35 million).
ICICI Prudential Asset Management Company's (ICICI AMC) average mutual fund assets under management was Rs. 54,355 crore (US$ 13.5 billion) in March 2008. ICICI AMC's profit after tax increased by 70% to Rs. 82 crore (US$ 20 million) in FY2008 from Rs. 48 crore (US$ 12 million) in FY2007.
ICICI Venture Funds Management Company (ICICI Venture) is the largest Indian private equity company with assets under management of about Rs. 9,550 crore (US$ 2.4 billion). ICICI Venture's profit after tax for the year ended March 31, 2008 was Rs. 90 crore (US$ 22 million).
Sourced From: ICICI Bank Ltd
Wednesday, March 7, 2007
GOVT. GRIEVANCE FORUM
Government of India has an online Grievance forum at http://darpg- grievance. nic.in/
The government wants people to use this tool to highlight the problems they faced while dealing with Government officials or departments like Passport Office, Electricity board, BSNL/MTNL, Railways etc etc.
I know many people will say that these things don't work in India, but this actually works as one of our colleague in CSC found. The guy I'm talking about lives in Faridabad. Couple of months back, the Faridabad Municipal Corporation laid new roads in his area and the residents were very happy about it. But 2 weeks later, BSNL dugged up the newly laid roads to install new cables which annoyed all the residents including this guy. But it was only this guy who used the above listed grievance forum to highlight his concern. And to his surprise, BSNL and Municipal Corporation of faridabad was served a show cause notice and the guy received a copy of the notice in one week. Government has asked the MC and BSNL about the goof up as its clear that both the government departments were not in sync at all. \nSo use this grievance forum and educate others who don't know about this facility. \nThis way we can at least raise our concerns instead of just talking about the ' System' in India. Invite your friends to contribute for many such happenings.\n\nBest Regards,\n Vishal Narsian\n There are 2 great days in our lives.... The Day we are born and the Day we Discover Why...!!!\n\n\t\t\t\t\n---------------------------------\n HereÂ’s a new way to find what you're looking for - Yahoo! Answers \n \n \n \n Back to top \n \n Reply to sender\n \n \n Reply to group",1]
);
//-->
I know many people will say that these things don't work in India, but this actually works as one of our colleague in CSC found. The guy I'm talking about lives in Faridabad. Couple of months back, the Faridabad Municipal Corporation laid new roads in his area and the residents were very happy about it. But 2 weeks later, BSNL dugged up the newly laid roads to install new cables which annoyed all the residents including this guy. But it was only this guy who used the above listed grievance forum to highlight his concern. And to his surprise, BSNL and Municipal Corporation of faridabad was served a show cause notice and the guy received a copy of the notice in one week. Government has asked the MC and BSNL about the goof up as its clear that both the government departments were not in sync at all. So use this grievance forum and educate others who don't know about this facility. This way we can at least raise our concerns instead of just talking about the ' System' in India. Invite your friends to contribute for many such happenings.
The government wants people to use this tool to highlight the problems they faced while dealing with Government officials or departments like Passport Office, Electricity board, BSNL/MTNL, Railways etc etc.
I know many people will say that these things don't work in India, but this actually works as one of our colleague in CSC found. The guy I'm talking about lives in Faridabad. Couple of months back, the Faridabad Municipal Corporation laid new roads in his area and the residents were very happy about it. But 2 weeks later, BSNL dugged up the newly laid roads to install new cables which annoyed all the residents including this guy. But it was only this guy who used the above listed grievance forum to highlight his concern. And to his surprise, BSNL and Municipal Corporation of faridabad was served a show cause notice and the guy received a copy of the notice in one week. Government has asked the MC and BSNL about the goof up as its clear that both the government departments were not in sync at all. \nSo use this grievance forum and educate others who don't know about this facility. \nThis way we can at least raise our concerns instead of just talking about the ' System' in India. Invite your friends to contribute for many such happenings.\n\nBest Regards,\n Vishal Narsian\n There are 2 great days in our lives.... The Day we are born and the Day we Discover Why...!!!\n\n\t\t\t\t\n---------------------------------\n HereÂ’s a new way to find what you're looking for - Yahoo! Answers \n \n \n \n Back to top \n \n Reply to sender\n \n \n Reply to group",1]
);
//-->
I know many people will say that these things don't work in India, but this actually works as one of our colleague in CSC found. The guy I'm talking about lives in Faridabad. Couple of months back, the Faridabad Municipal Corporation laid new roads in his area and the residents were very happy about it. But 2 weeks later, BSNL dugged up the newly laid roads to install new cables which annoyed all the residents including this guy. But it was only this guy who used the above listed grievance forum to highlight his concern. And to his surprise, BSNL and Municipal Corporation of faridabad was served a show cause notice and the guy received a copy of the notice in one week. Government has asked the MC and BSNL about the goof up as its clear that both the government departments were not in sync at all. So use this grievance forum and educate others who don't know about this facility. This way we can at least raise our concerns instead of just talking about the ' System' in India. Invite your friends to contribute for many such happenings.
Saturday, March 3, 2007
VASTU
Do not construct kitchen, toilets and puja-room next to one another.
The kitchen should not be directly in front of the main door.
Keep all electrical/heat generating appliances in the SE corner of the room.
Keep no broken mirrors in the house.
Mirrors, sinks, wash-basins and taps should preferably be along the NE wall.
The safe should open towards the north or the east. So, keep it along south or the west.
The toilet seat ahould preferably be along the North-South axis. The septic tank can be in the NW or the SE corner of the House.
Avoid having garbage dump, street-light pole, or boulders in front of the main gate or door.
Your main door should not be opposite the main door of another house.
The number of doors and windows should be more on the ground floor and less on the upper floor.
The image of Gajalaxmi at the main door is considered auspicious.
The north-east corner is the face house and should always be kept clean.
While swabbing the floor with any disinfectant, a little saindhava lavana or sea salt should be added.
Students should study facing the north or east.
Do not sit or sleep under a beam.
Do not hang a painting depicting war, crime, unrest, agony or distress.
Construct the front door in such a manner as to avoid the fall of a shadow on it.
Grow a tulsi or basil plant in front of the house.
Do not have any cactus in the house. Having it outside the boundry is good.
Rain water or drainage should flow towards NE-East-North.
Material to be used in the construction activity should always be new, expect in the case of renovation.
Elderly people are always more comfortable in the South-West corner.
The height of the building should reduced from the SW to the NE.
Walls along the SW should be thicker as compared to walls along the NE.
Bhumi-pujan ceremony should be performed before commencing on the construction of a new house and Griha-pravesh ceremony before shifting into it.
Do not have a toilet or puja room under a staircase.
A well in the middle of a house or plot is very inauspicious.
IDEAL KITCHENThe kitchen is probably the most used (or misused !!) room in any home , requiring an efficient combination of storage spaces , working counters , seating areas and free passages . It has to be functional , practical , elegant and comfortable , all at the same time and hence , great emphasis should be laid on the overall layout design of the kitchen , especially the small (and seemingly minor ) details.There are various practical points that must be considered and discussed before commencing the designing of a new kitchen or the modification of an existing one .- The style of cooking (which varies greatly due to influences of country , state , religion , health and personal choice ) would greatly influence the design and layout of a kitchen . Importance must be given to the type of materials , ingredients and mediums used as well as the appliances and working space required for that particular style of cooking . - A kitchen should be designed to match the preffered style of the individual user and the general ddécorof the rest of the house . It may be designed in a country / farmhouse , contemporary , colonial / english , laboratory , futuristic / high-tech , European / Mediterranean or ethnic style with matching decor and finishes . -A minimal , modular , straightlined , no-fuss work-area where the emphasis is on efficiency , workability and cleanliness . There are no wasted spaces and no unnecessary display of items or clutter . Most of the appliances are built-in and the workareas are easy to maintain and clean . -According to the theory , an efficient and practical kitcen layout is one where ideally the three major elements :Sink/Washing areaRefrigeratorCooking rangeare conviniently located so that the user can work and move about easily . The distance between the refrigerator , the cooking range and the washing area should not be less than 6 meters . This working should not be broken by full heights,fittments doors or passages . -The flooring , mostly used are mosaic,ceramic tiles,marbles.Stone flooring or ceramic tiles are recommended for Indian conditions,keeping in mind the surrounding dirt and dust since the material is impermeable , hard and stin / scratch resistant . -the walls in most kitchens are usually painted.Good qualityplastic emulsion paint for areas under the sink and near the wash area .-Cabinets are usually made of 19mm commercial block boards with laminate or enamel/duco paint .
IDEAL BEDROOMThe bedroom is usually a smaller room which can be seen in its entirety with just one glance,for this reason it is important
that the furniture matches ,and if all the pieces are not the same style they should atleast have uniformity of colour and texture.
The walls and the lighting should be tenous and not be concentrated around the head board.
The essential function of the bed is to provide a surface which is neither too hard nor too soft for the back and body to response in the correct position.
Choosing the right mattress is also complicated as there are many dofferent types to choose from:foam,latex,spring,and combinetions ,with one side for summer and the other for winter, anti-allergy,traditional wool ones,and a sybaritic tendency to place several mattresses one on top of other ,one spring and other latex.
Wardrobes and beds are usually combined in the bedrom and are designed to make the most of the space available,they incorporate comfortable details such as doors which open with just a light touch and the indispensable interior lighting.
Wardrobes are usually from 1.90 to 2m high and 55cm deep and have interior steps for adjusting the shelves.If the wardrobe has only two doors it is a good idea to put mirrors on the inside to be able to see oneself from behind as well as the front.
When deciding how to finish the walls and the ceiling in the bedroom one must know the kind of atmosphere desired and how to maintain it.Normally it is recommended to paint the headboard wall a more outstanding colour than the other three which should all be the same relaxing ,warm colour.So if the furniture and the upholstery has already been chosen,the walls and ceiling should be their appropriate background.
Carpeted walls are another alternative for the bedroom which normally is considered when the floor is carpeted as well,very appropriate for colder,more humid climates for their insulation and warmth.
Bedroom lighting should have a special treatment,the tone of the light should be warm and cozy,to achieve this,apart from the ceiling light and the lamps on the night table, we recommend that the light intensity might also be adjustable.The regulator of light intensity, also called a dimmer,is a mechanism which permits,apart from the normal function of a light switch .gradual control of intensity of the light,allowing one to choose the exact level desired between the total lighting and the total darkness of the room.
Interior door frames should be as decorative as the doors,highlighting their design and quality.If the frame should expand or contract dua to wood's movement it will have to be carefully planed,checking the measurements regularly,re-hanging the door to check the progress untill it is correct,remembering that there should always be a little pay.
When decorating one's bedroom one usually mixes and matches coordinating fabrics,in the curtains,bedspreads,pillows,lampshades,headboards,walls,but avoiding overdoing it.
Whites and creams adapt to both classic and modern styles and are found in fabrics made of cotton,polyster,wool and embroidered linen.
Fabrics with a natural design create a bucolic atmosphere,with light lovely colours,with fabrics like cretonne,polyster and cotton chintz,silk,faille,teffeta.
One romantic finish is to cross two embroided muslin blinds held open with two wide velvet bands.
There is nothing better than a wooden rug to warm up a room,placing one at the end of the bed is not only a basic decoretive element but also an object which adds warmth,calm and intimacy.The choice of a rug depends primarily upon the floor,furniture,wals,upholstery, luminosity,space and if the bedroom has a specific decor,one will be obliged to choose a coordinating rug which is essential to create the right atmosphere.
Bedspreads,sheets,blankets,quilts,comforters,and pillows all enter into the play in the decoration of the bedroom.One need only know the decorative style and have bit of extra fabric to combine walls,curtains,canopies,headboards,lampshades etc.with the indispensable bedding.
The fabric is the body and soul of the bedroom set,such as jacquard,tapestry inspired, elegant and noble lines which shine through somber tones
Vaastu GyaanVaastu means the dwelling of humans & Gods. Vaastu shastra is an ancient science which helps one to get the natural benefits freely offered by the five basic elements of the universe in which we all live. These basic elements are Akash (SKY), Prithvi (EARTH), Paani (WATER), Agni (FIRE), and Vayu (WIND). Vastu Shastra can be applied by keeping in harmony with these basic five elements of nature. Vaastu Shastra is an edifice science that was developed by our learned people thousands of years ago. Its application today is purely architectural and its principles are based on becoming one with nature. Many Vaastu rules are derived from 'Vaastu Purusha Mandala' which is depicted as a man lying with his head pointing north east, in a grid of usually 64 squares. The different directions and sectors are assigned to different Gods and Guardians.
Quick Vaastu Shanti Tips
When sitting for worship, keep your face towards North-West and sit in that corner to intake air from that direction. Cash boxes can be located in the room towards the North (treasury). But if the box is heavy (such as a safe, heavy almirah) then it should be kept in the Southwest corner and the door of the almirah should open towards the North.TVs and computers should ideally be placed in the Southeast corner of the living room or study room. They should not be placed in the Northeast corner or Southwest corner.Telephones can be placed in the Southeast or Northwest corner but not in the Southwest or Northeast.An aquarium with 9 gold fish and one black fish, in the north east corner/portion of the house or factory is very good.If the north-east area is untidy or unshapely, the well being of male issues is found to be precarious.One should sleep with his head pointing towards the South.Students should be facing east while studying, for Academic Excellence.If the kitchen is off the proper place, some member or the other is always found to be suffering from severe digestive disorder.Keep the Gas in the south east corner of the kitchen Person should face the east while cooking. Drinking water should be in the north east of the kitchen. While Taking meals the plate should be in South-East. The statue of Hanumanji should not be placed in South-East. It may create fire hazard.All the doors should open inside so that the energy may remain inside. The hinges of doors should be noiseless. If so. The hinges may be greased periodically. The doors should open towards right hand. Bed should not be put under a beam. There should not be five corners in the ceiling of a room. Efforts should be made a leave the rooms open on North-East side. While ascending the staircase, the face should be either towards the north or the east. The seat of the toilet should face North-South. No doors or windows should be provided on South-West side. Almirahs and beds should be set very close to the South - West wall and at a distance from the north - east wall. A house should not have paintings, which depicts depressing scenes, i.e. like an old woman crying, scenes of war or poverty. It should have picture of say, a sunrise, an ocean, mountains, flowers or laughing children.Tall trees are nowhere recommended close to the main building. For trees the south in itself is good and so is the west. No tree should be grown in the north and the east. The one at the north-east is the worst. Small decorative plants and shrubs may be grown in the north and the east. The height should not exceed, say, half a meter at the north-east increasing gradually to not more than 1.5 meter as one moves from the north-east to the north-west or to the south-east end. Except rose and a few medicinal ones, all thorny plants give rise to tensions in the environment. Plants exuding white sap should also be kept off. Lime and karonda etc. are OK in an orchard but not in residence or business premises. Amongst the beneficial plants, the best is Tulsi. It is commendable to keep at least one Tulsi plant in the north-east area of the premises, but its height should not exceed 1.5 meter. Growing creepers/climbers with support on the compound wall or a house wall is best avoided.Cactus should not be planted or kept in the house.In the South-West Corner of the house one should sleep pointing his head towards south. If north of any house is blocked it blocks prosperity.Water flowing/water fountain from north to east is very good.
Directions & their respective Rulers
North-east (Eshan) is ruled by Sadasiva or God Himself. Hence this direction is paramount, which demands keeping it scrupulously clean, open and highly receptive in a welcome "mode" always.East is ruled by Indra, the chief of the gods, giver of pleasures. The direction also represents the realm of the rising Sun projecting ultra-violet rays, so essential for health in several ways. South-east (Agneya) is the habitat of fire, the storehouse of energy.South is the abode of Yama, the god of death.South-west (Nairitya) is the abode of Putna demoness. West is the abode of Varuna, the god of ocean. It is also the direction of the setting Sun which gives infra-red radiation.North-west (Vayavva) is the abode of air/wind, the invisible, but the most effective blessing for all objects in need of motion/movement for their efficiency.North is the abode of Kuber, the god of wealth.
The kitchen should not be directly in front of the main door.
Keep all electrical/heat generating appliances in the SE corner of the room.
Keep no broken mirrors in the house.
Mirrors, sinks, wash-basins and taps should preferably be along the NE wall.
The safe should open towards the north or the east. So, keep it along south or the west.
The toilet seat ahould preferably be along the North-South axis. The septic tank can be in the NW or the SE corner of the House.
Avoid having garbage dump, street-light pole, or boulders in front of the main gate or door.
Your main door should not be opposite the main door of another house.
The number of doors and windows should be more on the ground floor and less on the upper floor.
The image of Gajalaxmi at the main door is considered auspicious.
The north-east corner is the face house and should always be kept clean.
While swabbing the floor with any disinfectant, a little saindhava lavana or sea salt should be added.
Students should study facing the north or east.
Do not sit or sleep under a beam.
Do not hang a painting depicting war, crime, unrest, agony or distress.
Construct the front door in such a manner as to avoid the fall of a shadow on it.
Grow a tulsi or basil plant in front of the house.
Do not have any cactus in the house. Having it outside the boundry is good.
Rain water or drainage should flow towards NE-East-North.
Material to be used in the construction activity should always be new, expect in the case of renovation.
Elderly people are always more comfortable in the South-West corner.
The height of the building should reduced from the SW to the NE.
Walls along the SW should be thicker as compared to walls along the NE.
Bhumi-pujan ceremony should be performed before commencing on the construction of a new house and Griha-pravesh ceremony before shifting into it.
Do not have a toilet or puja room under a staircase.
A well in the middle of a house or plot is very inauspicious.
IDEAL KITCHENThe kitchen is probably the most used (or misused !!) room in any home , requiring an efficient combination of storage spaces , working counters , seating areas and free passages . It has to be functional , practical , elegant and comfortable , all at the same time and hence , great emphasis should be laid on the overall layout design of the kitchen , especially the small (and seemingly minor ) details.There are various practical points that must be considered and discussed before commencing the designing of a new kitchen or the modification of an existing one .- The style of cooking (which varies greatly due to influences of country , state , religion , health and personal choice ) would greatly influence the design and layout of a kitchen . Importance must be given to the type of materials , ingredients and mediums used as well as the appliances and working space required for that particular style of cooking . - A kitchen should be designed to match the preffered style of the individual user and the general ddécorof the rest of the house . It may be designed in a country / farmhouse , contemporary , colonial / english , laboratory , futuristic / high-tech , European / Mediterranean or ethnic style with matching decor and finishes . -A minimal , modular , straightlined , no-fuss work-area where the emphasis is on efficiency , workability and cleanliness . There are no wasted spaces and no unnecessary display of items or clutter . Most of the appliances are built-in and the workareas are easy to maintain and clean . -According to the theory , an efficient and practical kitcen layout is one where ideally the three major elements :Sink/Washing areaRefrigeratorCooking rangeare conviniently located so that the user can work and move about easily . The distance between the refrigerator , the cooking range and the washing area should not be less than 6 meters . This working should not be broken by full heights,fittments doors or passages . -The flooring , mostly used are mosaic,ceramic tiles,marbles.Stone flooring or ceramic tiles are recommended for Indian conditions,keeping in mind the surrounding dirt and dust since the material is impermeable , hard and stin / scratch resistant . -the walls in most kitchens are usually painted.Good qualityplastic emulsion paint for areas under the sink and near the wash area .-Cabinets are usually made of 19mm commercial block boards with laminate or enamel/duco paint .
IDEAL BEDROOMThe bedroom is usually a smaller room which can be seen in its entirety with just one glance,for this reason it is important
that the furniture matches ,and if all the pieces are not the same style they should atleast have uniformity of colour and texture.
The walls and the lighting should be tenous and not be concentrated around the head board.
The essential function of the bed is to provide a surface which is neither too hard nor too soft for the back and body to response in the correct position.
Choosing the right mattress is also complicated as there are many dofferent types to choose from:foam,latex,spring,and combinetions ,with one side for summer and the other for winter, anti-allergy,traditional wool ones,and a sybaritic tendency to place several mattresses one on top of other ,one spring and other latex.
Wardrobes and beds are usually combined in the bedrom and are designed to make the most of the space available,they incorporate comfortable details such as doors which open with just a light touch and the indispensable interior lighting.
Wardrobes are usually from 1.90 to 2m high and 55cm deep and have interior steps for adjusting the shelves.If the wardrobe has only two doors it is a good idea to put mirrors on the inside to be able to see oneself from behind as well as the front.
When deciding how to finish the walls and the ceiling in the bedroom one must know the kind of atmosphere desired and how to maintain it.Normally it is recommended to paint the headboard wall a more outstanding colour than the other three which should all be the same relaxing ,warm colour.So if the furniture and the upholstery has already been chosen,the walls and ceiling should be their appropriate background.
Carpeted walls are another alternative for the bedroom which normally is considered when the floor is carpeted as well,very appropriate for colder,more humid climates for their insulation and warmth.
Bedroom lighting should have a special treatment,the tone of the light should be warm and cozy,to achieve this,apart from the ceiling light and the lamps on the night table, we recommend that the light intensity might also be adjustable.The regulator of light intensity, also called a dimmer,is a mechanism which permits,apart from the normal function of a light switch .gradual control of intensity of the light,allowing one to choose the exact level desired between the total lighting and the total darkness of the room.
Interior door frames should be as decorative as the doors,highlighting their design and quality.If the frame should expand or contract dua to wood's movement it will have to be carefully planed,checking the measurements regularly,re-hanging the door to check the progress untill it is correct,remembering that there should always be a little pay.
When decorating one's bedroom one usually mixes and matches coordinating fabrics,in the curtains,bedspreads,pillows,lampshades,headboards,walls,but avoiding overdoing it.
Whites and creams adapt to both classic and modern styles and are found in fabrics made of cotton,polyster,wool and embroidered linen.
Fabrics with a natural design create a bucolic atmosphere,with light lovely colours,with fabrics like cretonne,polyster and cotton chintz,silk,faille,teffeta.
One romantic finish is to cross two embroided muslin blinds held open with two wide velvet bands.
There is nothing better than a wooden rug to warm up a room,placing one at the end of the bed is not only a basic decoretive element but also an object which adds warmth,calm and intimacy.The choice of a rug depends primarily upon the floor,furniture,wals,upholstery, luminosity,space and if the bedroom has a specific decor,one will be obliged to choose a coordinating rug which is essential to create the right atmosphere.
Bedspreads,sheets,blankets,quilts,comforters,and pillows all enter into the play in the decoration of the bedroom.One need only know the decorative style and have bit of extra fabric to combine walls,curtains,canopies,headboards,lampshades etc.with the indispensable bedding.
The fabric is the body and soul of the bedroom set,such as jacquard,tapestry inspired, elegant and noble lines which shine through somber tones
Vaastu GyaanVaastu means the dwelling of humans & Gods. Vaastu shastra is an ancient science which helps one to get the natural benefits freely offered by the five basic elements of the universe in which we all live. These basic elements are Akash (SKY), Prithvi (EARTH), Paani (WATER), Agni (FIRE), and Vayu (WIND). Vastu Shastra can be applied by keeping in harmony with these basic five elements of nature. Vaastu Shastra is an edifice science that was developed by our learned people thousands of years ago. Its application today is purely architectural and its principles are based on becoming one with nature. Many Vaastu rules are derived from 'Vaastu Purusha Mandala' which is depicted as a man lying with his head pointing north east, in a grid of usually 64 squares. The different directions and sectors are assigned to different Gods and Guardians.
Quick Vaastu Shanti Tips
When sitting for worship, keep your face towards North-West and sit in that corner to intake air from that direction. Cash boxes can be located in the room towards the North (treasury). But if the box is heavy (such as a safe, heavy almirah) then it should be kept in the Southwest corner and the door of the almirah should open towards the North.TVs and computers should ideally be placed in the Southeast corner of the living room or study room. They should not be placed in the Northeast corner or Southwest corner.Telephones can be placed in the Southeast or Northwest corner but not in the Southwest or Northeast.An aquarium with 9 gold fish and one black fish, in the north east corner/portion of the house or factory is very good.If the north-east area is untidy or unshapely, the well being of male issues is found to be precarious.One should sleep with his head pointing towards the South.Students should be facing east while studying, for Academic Excellence.If the kitchen is off the proper place, some member or the other is always found to be suffering from severe digestive disorder.Keep the Gas in the south east corner of the kitchen Person should face the east while cooking. Drinking water should be in the north east of the kitchen. While Taking meals the plate should be in South-East. The statue of Hanumanji should not be placed in South-East. It may create fire hazard.All the doors should open inside so that the energy may remain inside. The hinges of doors should be noiseless. If so. The hinges may be greased periodically. The doors should open towards right hand. Bed should not be put under a beam. There should not be five corners in the ceiling of a room. Efforts should be made a leave the rooms open on North-East side. While ascending the staircase, the face should be either towards the north or the east. The seat of the toilet should face North-South. No doors or windows should be provided on South-West side. Almirahs and beds should be set very close to the South - West wall and at a distance from the north - east wall. A house should not have paintings, which depicts depressing scenes, i.e. like an old woman crying, scenes of war or poverty. It should have picture of say, a sunrise, an ocean, mountains, flowers or laughing children.Tall trees are nowhere recommended close to the main building. For trees the south in itself is good and so is the west. No tree should be grown in the north and the east. The one at the north-east is the worst. Small decorative plants and shrubs may be grown in the north and the east. The height should not exceed, say, half a meter at the north-east increasing gradually to not more than 1.5 meter as one moves from the north-east to the north-west or to the south-east end. Except rose and a few medicinal ones, all thorny plants give rise to tensions in the environment. Plants exuding white sap should also be kept off. Lime and karonda etc. are OK in an orchard but not in residence or business premises. Amongst the beneficial plants, the best is Tulsi. It is commendable to keep at least one Tulsi plant in the north-east area of the premises, but its height should not exceed 1.5 meter. Growing creepers/climbers with support on the compound wall or a house wall is best avoided.Cactus should not be planted or kept in the house.In the South-West Corner of the house one should sleep pointing his head towards south. If north of any house is blocked it blocks prosperity.Water flowing/water fountain from north to east is very good.
Directions & their respective Rulers
North-east (Eshan) is ruled by Sadasiva or God Himself. Hence this direction is paramount, which demands keeping it scrupulously clean, open and highly receptive in a welcome "mode" always.East is ruled by Indra, the chief of the gods, giver of pleasures. The direction also represents the realm of the rising Sun projecting ultra-violet rays, so essential for health in several ways. South-east (Agneya) is the habitat of fire, the storehouse of energy.South is the abode of Yama, the god of death.South-west (Nairitya) is the abode of Putna demoness. West is the abode of Varuna, the god of ocean. It is also the direction of the setting Sun which gives infra-red radiation.North-west (Vayavva) is the abode of air/wind, the invisible, but the most effective blessing for all objects in need of motion/movement for their efficiency.North is the abode of Kuber, the god of wealth.
Saturday, February 3, 2007
HOW DOES CLOSED CAPTIONING WORK IN TVs ?
On television, how does closed captioning work?
Closed captioning can be extremely helpful in at least three different situations:
It has been a great boon to hearing-impaired television viewers.
It can also be helpful in noisy environments. For example, a TV in a noisy airport terminal can display closed captioning and still be usable
Some people use captions to learn English or learn to read. Closed captioning is embedded in the television signal and becomes visible when you use a special decoder, either as a separate appliance or built into a television set. The decoder lets viewers see captions, usually at the bottom of the screen, that will tell them what is being said or heard on their favorite TV shows. Since 1993, television sets with screens of 13 inches or more that are sold in the United States must have built-in decoders, under the Television Decoder Circuitry Act. Set-top decoders are available, too, for older TV sets.
The captions are hidden in the line 21 data area found in the vertical blanking interval of the television signal. If you have read the article entitled How Television Works or the question on the V-chip, then you know about the blanking interval. It is the area of the television signal that tells the electron gun to shoot back up to the upper left corner of the screen to begin painting the next frame. Line 21 is the line in the vertical blanking interval that has been assigned to captioning (as well as time and V-chip information). Each frame of video can transmit two characters of captioning information (or special commands that control color, popups, etc.)
Many shows and commercials carry captions nowadays. Older programs made before captioning became widespread have captions added for their reruns. Captioned programs are marked in TV listings by "CC". If you have a set with a decoder built in, you can turn on the captioning -- check your set's manual for the instructions.
Some shows are captioned in real time. That is, during a live broadcast of a special event or of a news program, captions appear just a few seconds behind the action to show what is being said. A stenographer listens to the broadcast and types the words into a special computer program that adds the captions to the television signal. The typists have to be skilled at dictation and spelling and they have to be very fast and accurate at typing.
Other shows carry captions that get added after the show is produced. Caption writers use scripts and listen to a show's soundtrack so they can add words that explain sound effects. On a game show, for example, when there is no dialogue but there is laughter, the caption will say "Audience laughing."
Here are several interesting links:
FAQ on closed captioning by advocate Gary Robson
WBGH's Caption Center
How Television Works
question on the V-chip
Closed captioning can be extremely helpful in at least three different situations:
It has been a great boon to hearing-impaired television viewers.
It can also be helpful in noisy environments. For example, a TV in a noisy airport terminal can display closed captioning and still be usable
Some people use captions to learn English or learn to read. Closed captioning is embedded in the television signal and becomes visible when you use a special decoder, either as a separate appliance or built into a television set. The decoder lets viewers see captions, usually at the bottom of the screen, that will tell them what is being said or heard on their favorite TV shows. Since 1993, television sets with screens of 13 inches or more that are sold in the United States must have built-in decoders, under the Television Decoder Circuitry Act. Set-top decoders are available, too, for older TV sets.
The captions are hidden in the line 21 data area found in the vertical blanking interval of the television signal. If you have read the article entitled How Television Works or the question on the V-chip, then you know about the blanking interval. It is the area of the television signal that tells the electron gun to shoot back up to the upper left corner of the screen to begin painting the next frame. Line 21 is the line in the vertical blanking interval that has been assigned to captioning (as well as time and V-chip information). Each frame of video can transmit two characters of captioning information (or special commands that control color, popups, etc.)
Many shows and commercials carry captions nowadays. Older programs made before captioning became widespread have captions added for their reruns. Captioned programs are marked in TV listings by "CC". If you have a set with a decoder built in, you can turn on the captioning -- check your set's manual for the instructions.
Some shows are captioned in real time. That is, during a live broadcast of a special event or of a news program, captions appear just a few seconds behind the action to show what is being said. A stenographer listens to the broadcast and types the words into a special computer program that adds the captions to the television signal. The typists have to be skilled at dictation and spelling and they have to be very fast and accurate at typing.
Other shows carry captions that get added after the show is produced. Caption writers use scripts and listen to a show's soundtrack so they can add words that explain sound effects. On a game show, for example, when there is no dialogue but there is laughter, the caption will say "Audience laughing."
Here are several interesting links:
FAQ on closed captioning by advocate Gary Robson
WBGH's Caption Center
How Television Works
question on the V-chip
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