Money
Snap up your scores
Banks and credit card companies use credit scores to evaluate the potential risk posed by lending money to consumers and to mitigate losses due to bad debt.
Buying a three-bedroom apartment was a dream for Vishal Menon, a 35 year-old manager in a blue-chip firm. He was shocked when his home loan application got rejected. Why was it rejected despite Vishal’s top dollar job? Vishal’s credit score was low. He got a low score because he had a history of irregular credit card payments. While computing the credit score, maximum weightage (around 35%) is given to clean repayment history (of all loans including credit cards).
Most people are unaware of credit score and come to know about it after they fail to get a loan. So what is a credit score? Banks give credit card or loan––home, auto, and personal loans–– based on the ability of borrowers to repay the amount. They measure the repayment ability or credit worthiness based on credit score. If you have a higher credit score, it will help you get loans on better terms and lower interest rate.
Before applying for a loan, one should approach RBI approved credit information companies like CIBIL, Experian or Equifax. When you apply for a loan or a credit card, the bank forwards your application to any of these companies before approving loan or credit card.
The credit score is based on your repayment history, amount of credit on loans being used, number of loan applications, and the amount of secured and unsecured loans. Secured loans include auto and home loans while credit on cards constitutes unsecured loans. If your basket of loans has higher secured loans, there are better chances of getting loan as lenders see you as a reliable borrower. Frequent foreclosure of loans and application of new loans can also bring down your credit score as bankers suspect that you may be using the money for speculative investment or for buying stocks. Credit scoring is not limited to banks. Mobile phone companies, insurance companies, landlords, and government departments employ the same techniques.
A credit information company computes credit score, which is a three-digit number within the range of 300 and 900. Higher the score more the chances of getting a loan on favorable interest rates. A good score alone does not mean a person can get the loan he wants. Bankers also look at the status of previous loans and the payment history on such loans. A previously settled or a written off loan is likely to impair the ability to avail more loans.
Features
Success Tips for Young and Aspiring Entrepreneurs
An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. They are commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.
Not all of them have a mentor or chance to meet one. So here are some tips to motivate the entrepreneur in you.
Do work you care about
There’s no doubt that running a business take a lot of time. Steve Jobs noted that the only way to be satisfied in your life is to do work that you truly believe in.
Take the risk
We never know the outcome of our efforts unless we actually do it. Jeff Bezos said it helped to know that he wouldn’t regret failure, but he would regret not trying.
Believe in yourself
As Henry Ford famously said, “Whether you think you can, or think you can’t, you’re right.” Believe that you can succeed, and you’ll find ways through different obstacles. If you don’t, you’ll just find excuses.
Have a vision
The founder and CEO of Tumblr, David Karp, notes that an entrepreneur is someone who has a vision for something and a desire to create it. Keep your vision clear at all times.
Take action
The world is full of great ideas, but success only comes through action. Walt Disney once said that the easiest way to get started is to quit talking and start doing. That’s true for your success as well.
Manage energy, not time
Your energy limits what you can do with your time, so manage it wisely.
Build a great team
No one succeeds in business alone, and those who try will lose to a great team every time. Build your own great team to bolster your success.
Learn from mistakes
Many entrepreneurs point to mistakes as being their best teacher. When you learn from your mistakes, you move closer to success — even though you initially failed.
Know your customer
Dave Thomas, the founder of Wendy’s, cited knowing your customer as one of his three keys to success. Know those you serve better than anyone else, and you’ll be able to deliver the solutions they need.
Learn from complaints
Bill Gates once said that your most unhappy customers are your greatest source of learning. Let unhappy customers teach you where the holes in your service are.
Entertainment
Perfect weekend getaways in Kerala for your Christmas holidays
No plans for Christmas holidays yet? Here is your getaway guide!
Christmas is the festival of joy and giving. It is that time of the year when you spend time with your loved ones. With Christmas falling on a Monday, it’s going to be a long weekend for many of us. Here is our list of places where you can spend the weekend with your family and friends.
Wayanad
If you are an adventure freak, Wayanad is going to be the best place for you. Adventure activities from Cycling to Mountain Climbing, Wayanad brings out the adventure soul in you. A relaxed night camp with campfire on a starry night would be the best way to spend your weekend.
Munnar
Munnar is a beautiful hill station in the Idduki district. The term Munnar refers to ‘Moon Aaru’ which means three rivers. It is known for cardamom and tea plantations. This hill station is also famous for the ‘Neelakurinji’ flower which blooms once in 12 years. If you are looking for a laid-back holiday, just soak into the beauty and greenery of the place. You can also go for boating and pay a visit to tea museum and tea plantations.
Thekkady
Thekkady is heaven for nature lovers. This place evokes the love of nature in you. It is known for the Periyar Wildlife Sanctuary which is one of the largest national parks in the country. Bamboo rafting, visiting the reserve through trekking, jeep or boating, camping in the woods are few of the highlights of this place.
Vagamon
Vagamon is a hill station located on the Kottayam- Idukki border. The greenery expanded across and the gushing water place is a favorite spot for photographers and couples. Since this scenic place has not been touched with any kind of commercialization, it offers many adventurous activities for people like rock climbing, trekking, paragliding etc.
Alappuzha
Alappuzha also known as Alleppey is one of the famous tourist destinations in Kerala. This place will make you fall in love with backwaters. Lazily cruising in the houseboats with lush blue sky and allure of the greenery around will make you forget about all your problems. Apart from boat rides, the city is home to many holy shrines like Ambalappuzha Sri Krishna Temple, Chettikulangara Devi Temple and more. There are also many churches in the town like Champakulam Church, St. Sebastian’s Church and Edathua Church. The city also has a carefully preserved statue of Buddha.
Make your Christmas Merrier by going to these beautiful places with your loved ones.
Features
SHOPPERS, STOP AT KOCHI
As Kochi cements its place as the shopaholics destination to splurge on, we look at the trends that emerge.
Kochi undoubtedly is the coolest place to be in Kerala right now. The ambience and lifestyle, the walkways alongthe water bodies, interlocked alleys, the brilliantly starry nights, busy roads and people, crowded railway stations, this city is vibrant as any. A Mumbaikar friend who was recently at Kochi kept telling me that the place reminded him of Mumbai but I was not sure to be flattered or offended, for Kochi we like to believe has a character of its own.
Bringing Together Two Worlds
It comes as no surprise that buildings are shooting up like mushrooms in Kochi, and the infrastructure development has taken to a whole new level considering the burgeoning population and their affluence. Notwithstanding the general perception of being a lazy foreigner’s haven with an unlimited supply of
“peace of mind” sprayed all over these group of tiny islands, the swanky urbanised Kochi throws an
amazing shopping experience to the shopaholics. Like with every other thing, Kochi stays ahead of the rest of Kerala as a shopping destination too, with multitudes of shopping centres and malls opening up. You probably had seen a plain stretch of land a few years back, and when you return, you find a magnificent place, that’s the pace at which Kochi grows.
The Big Ideas
When the idea of constructing India’s largest Shopping Mall brewed in the minds of the promoters, we think thatthe only question they had in mind was “Where in Kochi?” ; Kochi, it would be was a foregone fact. To say that Lulu Mall has changed the way Kochi, sorry, Kerala shops would be an understatement. I once overheard a conversation between an elderly couple, and it went “Where the hell did all these people buy their stuff before this place came up?”; a very valid question considering how quickly the Kochiites have adapted to and embraced the mall culture.
Shifting Lifestyles
The Kochi Folks have completely changed their routines, preferring to ‘eat, drink, watch and entertain’ rather than spending a sweet Sunday at their sweet homes. The malls now have more movie screens than one could imagine, and they run full houses almost every day of the week. We would say it’s clever enough to book the ticket ahead a week and relax, be calm and enjoy the movie with a bag of popcorn. Kochi also boasts about the India’s first Leadership in Energy and Environmental Design(LEED) certified gold-rated green mall, and this even sounds refreshing and healthy. Nucleus Mall at Maradu with a 273,000 sq ft area brings this eco-friendly atmosphere with symphony halls, a multiplex and food courts.
As the backwaters, antique shops and Chinese fishing nets create the traditional story, the contemporary Kochi talks about shopping malls, iced drinks and fast food. The purchasing power of the Kochi population is seeing an upward curve and this is proportionally balanced by the availability of more international brands. Shopping malls are major players in providing visual merchandise and the window shopping that inevitably happens to trigger the desire.
Making it Work
In addition to more than seven existing popular malls, Kochi will witness a massive mall-storm in the near future, and the additional count from a credible source says 11 more. It is quite difficult to fit that context into our minds, but the builders seem so comfortable to fit their structures in that tiny map. With a current estimated 20lakh sq ft of combined mall area in Kochi, roughly the size of a whole small airport, 11 more is something beyond what we could
fathom. Kochi impresses its residents every time, and this mall culture has seriously increased the brief outings
and pleasurable get-togethers. The malls are standing high enough to touch the sky of Kochi with pride. I would want to know what our elderly couple would have to say about the mall mania in Kochi and of course, the reaction will be “11 more? Really? ” Yes, really, But we are sure the people of Kochi are looking forward and will embrace these as they did to the malls that have already arrived. With these beautiful structures that are springing up day in and out, the iconic marine drive and the Kulukki sarbath that quenches your thirst, the beaches and cool, happening things that goes in Kochi on my mind, I am forced to borrow a catchphrase from my Mumbai friend “ Kochi Meri Jaan.”
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