Wednesday, April 22, 2009
saving bank account holders to watch
- Around 41% of India’s population, those that have savings bank accounts with Indian banks will be a happier lot come April 1, 2010. This is considering the RBI’s latest directive to banks who have been asked to calculate interest on savings account balances on a daily basis rather than for the period between 10th and last day of every month as is the ritual now.
This would mean that you’d get interest even if you keep money in your savings account just for one day in a month. Currently, if you keep money between the 1st and the 10th of a month, but withdraw it after that, you get zero interest even though the bank had your money deposited for nine days. While banks have been opposing such a move arguing that this would involve high levels of computerisation, the fact is that most of them now boast of technology implementation across 100% of their branches. And RBI has taken notice of this fact. .
APPLY 80/20 RULE FOR SUCCESS
Here's a small sampling in Brian's chapter titled:
Apply the 80/20 Rule to Everything. Enjoy!
The 80/20 Rule is one of the most helpful of all concepts of time and life management. It is also called the "Pareto Principle" after its founder, the Italian economist Vilfredo Pareto, who first wrote about it in 1895. Pareto noticed that people in his society seemed to divide naturally into what he called the "vital few", the top 20 percent in terms of money and influence, and the "trivial many", the bottom 80 percent.
He later discovered that virtually all economic activity was subject to this principle as well. For example, this principle says that 20 percent of your activities will account for 80 percent of your results, 20 percent of your customers will account for 80 percent of your sales, 20 percent of your products or services will account for 80 percent of your profits, 20 percent of your tasks will account for 80 percent of the value of what you do, and so on. This means that if you have a list of ten items to do, two of those items will turn out to be worth five or ten times or more than the other eight items put together.
Number of Tasks versus Importance of TasksHere is an interesting discovery. Each of the ten tasks may take the same amount of time to accomplish. But one or two of those tasks will contribute five or ten times the value of any of the others.
Often, one item on a list of ten tasks that you have to do can be worth more than all the other nine items put together. This task is invariably the frog that you should eat first.
Focus on Activities, Not AccomplishmentsThe most valuable tasks you can do each day are often the hardest and most complex. But the payoff and rewards for completing these tasks efficiently can be tremendous. For this reason, you must adamantly refuse to work on tasks in the bottom 80 percent while you still have tasks in the top 20 percent left to be done.
Before you begin work, always ask yourself, "Is this task in the top 20 percent of my activities or in the bottom 80 percent?"
The hardest part of any important task is getting started on it in the first place. Once you actually begin work on a valuable task, you will be naturally motivated to continue. A part of your mind loves to be busy working on significant tasks that can really make a difference. Your job is to feed this part of your mind continually.
Motivate YourselfJust thinking about starting and finishing an important task motivates you and helps you to overcome procrastination. Time management is really life management, personal management. It is really taking control of the sequence of events. Time management is having control over what you do next. And you are always free to choose the task that you will do next.
Your ability to choose between the important and the unimportant is the key determinant of your success in life and work.
Effective, productive people discipline themselves to start on the most important task that is before them. They force themselves to eat that frog, whatever it is. As a result, they accomplish vastly more than the average person and are much happier as a result. This should be your way of working as well.
Apply the 80/20 Rule to Everything. Enjoy!
The 80/20 Rule is one of the most helpful of all concepts of time and life management. It is also called the "Pareto Principle" after its founder, the Italian economist Vilfredo Pareto, who first wrote about it in 1895. Pareto noticed that people in his society seemed to divide naturally into what he called the "vital few", the top 20 percent in terms of money and influence, and the "trivial many", the bottom 80 percent.
He later discovered that virtually all economic activity was subject to this principle as well. For example, this principle says that 20 percent of your activities will account for 80 percent of your results, 20 percent of your customers will account for 80 percent of your sales, 20 percent of your products or services will account for 80 percent of your profits, 20 percent of your tasks will account for 80 percent of the value of what you do, and so on. This means that if you have a list of ten items to do, two of those items will turn out to be worth five or ten times or more than the other eight items put together.
Number of Tasks versus Importance of TasksHere is an interesting discovery. Each of the ten tasks may take the same amount of time to accomplish. But one or two of those tasks will contribute five or ten times the value of any of the others.
Often, one item on a list of ten tasks that you have to do can be worth more than all the other nine items put together. This task is invariably the frog that you should eat first.
Focus on Activities, Not AccomplishmentsThe most valuable tasks you can do each day are often the hardest and most complex. But the payoff and rewards for completing these tasks efficiently can be tremendous. For this reason, you must adamantly refuse to work on tasks in the bottom 80 percent while you still have tasks in the top 20 percent left to be done.
Before you begin work, always ask yourself, "Is this task in the top 20 percent of my activities or in the bottom 80 percent?"
The hardest part of any important task is getting started on it in the first place. Once you actually begin work on a valuable task, you will be naturally motivated to continue. A part of your mind loves to be busy working on significant tasks that can really make a difference. Your job is to feed this part of your mind continually.
Motivate YourselfJust thinking about starting and finishing an important task motivates you and helps you to overcome procrastination. Time management is really life management, personal management. It is really taking control of the sequence of events. Time management is having control over what you do next. And you are always free to choose the task that you will do next.
Your ability to choose between the important and the unimportant is the key determinant of your success in life and work.
Effective, productive people discipline themselves to start on the most important task that is before them. They force themselves to eat that frog, whatever it is. As a result, they accomplish vastly more than the average person and are much happier as a result. This should be your way of working as well.
Monday, April 20, 2009
MURTHY OF INFOSYS PLEDGES WEALTH FOR SOCIAL PROJECTS.
Murthys pledge wealth for social welfare projects20 Apr 2009, 0605 hrs IST, Asha Rai, TNN | |||||||
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BANGALORE: Taking a leaf out of investment moghul Warren Buffett's social initiatives, Infosys co-founder and chief mentor N R Narayana Murthy and "There are lots of fabulous initiatives in the field being executed by some wonderful people to address the issues that interest us," said Murthy. "So, Sudha and I will give financial help to these people rather than doing it directly." Buffett, the Berkshire Hathaway chairman, has similarly pledged his multi-billion dollar fortune to Microsoft founder Bill and his Melinda Gates' foundation. Although Sudha is also the chairperson of Infosys Foundation, Murthy said they wanted to keep their personal philanthropy separate from the work of the company's initiative. The Infosys foundation is funded by a percentage of Infosys' profits that accrue to it annually. The Murthy family's combined worth as per the latest price of Infosys scrip, is Rs 4,000 crore. The couple is worth Rs 1,750 crore, two-thirds of which belong to Sudha. A larger chunk of Rs 2,250 crore belongs to their two children, Akshata and Rohan. While Rohan is a doctoral student at Harvard University, Akshata is with a clean-tech firm in the US after completing her MBA from Stanford. Murthy's share holding in Infosys is less than 1%. As he's been quietly giving away chunks of it, his equity stake in the company is just 0.56%, and at today's price is valued at Rs 445 crore. Sudha's 1.63% stake is worth Rs 1,300 crore. Murthy has always disclaimed beneficial ownership of shares held by his family. The Murthys also believe in giving away the income  | |||||||
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