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TED & Talks on Money

Imagine listening to Bill Clinton, Bill Gates, Stephen Hawking, Sheryl Sandberg, Daniel Kahneman (Behavioural economics founder) or listening on topics like Sir Ken Robinson’s Schools kill creativityAmy Webb: How I hacked online datingRita Pierson: Every kid needs a champion,Kathryn Schulz: On being wrong etc. While writing the article Can Women Have It All : Indra Nooyi, Anne-Marie Slaughter,Sheryl Sandberg, I listened to TED talks by Anne Marie and Sheryl and now am hooked on to TED and TEDx Talks. TED began in 1984 as a conference where Technology, Entertainment and Design converged, and today covers almost all topics  from science to business to global issues  from business to parenting, behavioural finance, women,school education,maths which echo their slogan : Ideas Worth Spreading  and in more than 100 languages. Talks are videos of around 18 minutes . This article talks about TED, history of TED talks, what are TEDx , TED in India and TED talks related to money.

About TED

TED was conceived by architect and graphic designer Richard Saul Wurman, who observed a convergence of the fields of technology, entertainment and design . The first conference, organized by Harry Marks and Wurman in 1984, featured demos of the Sony compact disc, and one of the first demonstrations of the Apple Macintosh computer. Presentations were given by famous mathematician Benoit Mandelbrot , Nicholas Negroponte and Stewart Brand. The event was financially unsuccessful,  it took six years before the second conference was organized. From 1990 onward, a growing community of TEDsters gathered annually at the event in Monterey, California, until 2009, when it was relocated to Long Beach, California due to a substantial increase in attendees.

In 2000, Wurman, looking for a successor at age 65, met Chris Anderson TED enthusiast and the new-media entrepreneur. In November 2001, Anderson’s non-profit The Sapling Foundation  became the owner of TED. Wurman left after the 2002 conference.

In 2005  when idea of a TV show based on TED lectures was rejected by several networks, a selection of talks that had received the highest audience ratings was posted on the websites of TED, YouTube, and iTunes. In January of the next year, the number of TED Talks on the site had grown to 44, and they had been viewed more than three million times. Buoyed by the response was launched in 2007.As of January 2014, over 1500 TED talks had been posted. In June 2011 the number of views totalled 500 million and on 13 November 2012, TED reached its billionth video view

TED has lots of options, from free to those who can donate. Attendance at TED is by application, and the attendees — scientists, CEOs, designers, intellectuals — are as extraordinary as the speakers, but there are donor passes available. In 2006, attendance cost was $4,400 per person, donor membership for TED2015 on Truth and Dare is available for $17,000. Article The #1 myth of TED: You have to be invited talks about how one can attend the TED conference.

TED talks that got talked about, excerpt from the infographic Why we are all TED Heads?

Popularity of TED talks

Popularity of TED talks

TEDx Talks

Pockets Facebook App by ICICI Bank, Social Banking

India has progressed a lot in terms of banking in last few years.After internet banking, mobile banking, e-wallets what next’s? Social Banking is the new banking option. This article talks about Can Social media and Banking be combined? And then explores in detail the Pocket App by ICICI Bank which uses Facebook for banking. It focuses on Pocket App’s two feature Pay a friend without knowing the account number and Split n Share feature of Pocket App, which really set this app apart and makes one look at Pocket App seriously.

What do I want from Bank in terms of banking services?

Bank is a place where I deposit money in my account  or rather my salary get’s deposited and then I spend money from the account. I hardly go to the bank, I use ATM to withdraw my money for daily use,use ECS to set up my bill payments (electricity,mobile,broadband), netbanking to check status of my account, set alerts. Everytime there is a transaction I get an SMS and email alert(I have set it up using netbanking) which informs me of the balance also. I am  ignoring the various other services that banks offer such as mutual fund ,insurance and Relationship managers. I have options of Netbanking, Mobile Banking. My preference is for NetBanking.

Do I use Social Media like Facebook and Twitter?

As individual Yes Facebook gives me  an opportunity to keeping in touch with my friends and family. Twitter I use more for bemoneyaware, sending quotes related to money(every day at 10:00 am) or sharing articles that I think would be helpful or discussing about financial awareness etc .  Our twitter handle is @bemoneyaware or

Can Social Media and Banking be combined?

But can banking and Social Media be mixed?  Would I like to use Facebook for my banking transactions. My first answer is No. But then I am a middle aged woman and I am not sure about Facebook being the right platform for doing banking. I mean if I on internet on my laptop I may just as well do the internet banking. Now I am able to understand the reluctance of my parents and inlaws in using the ATM. My parents and inlaws have reluctantly moved to ATM, they still prefer going to bank branch and withdrawing money. ATM machine is outside the bank only says my mother  and I like when Mr. Sharma  asks about me and my children and we talk few minutes about Kya ache din aayenge?  And internet banking is a Big No What if I give wrong account number ? asks my father-in-law and then starts on how Mr Chauhan’s relative’s friend son’s account was wrongly debited for some money and how he had to run around to get it back.

But what about the young generation, especially those in 20s and 30s.  There are 82 millions Facebook users in India in which over 40% users are below 30-years of age. Would they want to use Social Media or rather Facebook for banking. Maybe (when I did a random survey among my friends and colleagues).  Some of people I surveyed asked me back what is the value add in going through Facebook. (some were worried whether their bank balance or transactions would be known to their friends/family members). Sometime back I had written about Kotak Bank’s Jifi account and  did not see the value add in opening  a new account just  for using social media. But then my reader Gautam asked question about ICICI Pockets especially the Split and Share feature. I looked at it and the result is this article as I feel Pockets App by ICICI Bank has potential.

What is Pockets App by ICICI Bank’?

On 24 2013 September, ICICI Bank launched Pockets, an application on Facebook. Pockets by ICICI Bank can be accessed through desktop and mobile version of Facebook.  This app can be used to do financial as well as non-financial transactions while you are on Facebook. Pockets App is available for ICICI Bank customers who have a resident saving account(not NRI account) with a valid debit Card. Pockets  App by ICICI Bank on Facebook can do following :

  • Split ‘n’ share: It allows its users to split and track group expenses and share them with friends on Facebook. It  also allows the customer the option of sending messages to remind friends on pending payments.

Swap Shares, Capital Gain and Tax

Got a comment from our reader  ”I have some share of Satyam Computer which i bought sometime between 2009-2011 on avg price of 85 Rs, now after merger with Tech MahindraI  have got share of Tech Mahindra (on swap ratio of 17:2) (current price around 2200) now if i sell my share, then what will be the tax liability on me on account of long term capital gain (more then 3 year)“. This article explains what is swap ratio, gives an overview of Capital gain, Long term capital gain and Short Term Capital gain, holding period for swap shares.

What is swap ratio?

Swap ratio is an exchange ratio used in mergers and acquisitions of companies. It is the ratio in which the acquiring company offers its own shares in exchange for the target company’s shares. For example, if company A is acquiring company B and offers a swap ratio of 1:5, it will issue one share of its own company (company A) for every 5 shares of the company B being acquired. In other words, if company B has 10 crore outstanding equity shares and 100% of it is being acquired by company A, then company A will issue 2 crore new equity shares of company A to the shareholders of company B, proportionately.

Examples of swap ratio

  • In Jul 2013 Shareholders of Mahindra Satyam received one share of Tech Mahindra (Rs 10 each) for every 8.5 shares of Rs. 2 each they had in the erstwhile Satyam that was absorbed in Tech Mahindra.
  • In Apr 2014 for Ranbaxy Sun Pharma deal  it was announced that Ranbaxy shareholders will receive 0.8 shares of Sun Pharma for each share of Ranbaxy

To calculate the swap ratio, companies analyse financial ratios such as book value, earnings per share, profits after tax as well as other factors, such as size of company, long-term debts, strategic reasons for the merger or acquisition etc.

Shares, Capital Gain and Tax

Period of Holding for Shares : Long Term Capital Gain/Short Term Capital Gain

Secrets of Millionaire Mind : How Rich and Poor People think differently

Why some people  get rich(or seem to get rich) easily, while others are destined for a life of financial struggle?  Where lies the difference , Is it intelligence, street smartness,education,skill, background,people they know, choice of jobs or plain luck or ______???  We know even those who are lucky and win huge amounts in lottery soon end up being poorer.   The Answer as per author T. Harv Eker  of  Secrets of the Millionaire Mind  is our money blueprint and it is this blueprint, more than anything, that will determine our financial lives. Rich people have a different money blueprint, they think and act differently than poor people. If we start thinking and acting like Rich People we may become rich says the book Secrets of the Millionaire Mind by T. Harv Eker. This article gives an overview of the book and then talks about Rich and Poor People thinking differently talking in detail about how belief Rich people and Poor People, the  belief I create my Life or Life Happens to me.

Secrets of the Millionaire Mind by T. Harv Eker

Secrets of the Millionaire Mind by T. Harv Eker  is divided into two parts

Part I explains how your money blueprint works. Through Eker’s  of simple writing you will learn how your financial blueprint is made, how your childhood influences have shaped your financial destiny. You also come to know how to identify your own money blueprint and revise it to not only create success but, more important, to keep and continually grow it.

In Part II you are introduced to Seventeen Wealth Files, which tell 17 ways in how rich people think and act differently than most poor and middle-class people. Each Wealth File includes action steps for you to practice in the real world in order to dramatically increase your income and accumulate wealth. How do rich people think and act? According to T. Harv Eker If you think like rich people think and do what rich people do, chances are you’ll get rich too!

How Rich and Poor People think and act differently

Filing Income Tax Returns after deadline

If you haven’t filed you income tax return till due date (31 st Jul 2014 for FY 2013-2014 or  AY 2014-15) , all is not lost you can still file income tax return, you can do so till 31 March 2015, the last day of the assessment year 2014-15. This article explains how to file Income tax returns after the deadline,Last date for filing Income Tax Returns,

Why people miss filing their Income Tax Returns

In some cases it is the unavoidable circumstances and in some cases it is sheer laziness.  Other than being your legal obligation Filing of income tax returns is important to have a three-year record of income tax returns as a necessary thing for a bank to approve a loan application along with a CIBIL score, at times required for getting VisaIt is proof of  your financial life . Our article If You don’t file the Income Tax Return on time explains it in detail.

Last date for filing Income Tax Returns

Last date for filing returns for an individual is usually 31 Jul of the assessment year.  So last date for filing returns for FY 2013-14 which is AY 2014-15 was 31st Jul 2014.

If one missed the last date for filing returns, one can still file returns till 31st Mar of the Assessment year  . So one can still  file for returns for FY 2013-14 which is AY 2014-15 till 31st Mar 2015.

If one misses the 31 March AY deadline as well, they can still file their return by 31 March of the next assessment year. However, this will be treated as a belated return. i,e for FY 2013-14  which is AY 2014-15 one can still file Belated return from 1 Apr-2015 to 31-Mar-2016.

Filing of return for FY 2013-14 or AY 2014-15 after deadline

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