This has reference to our visit to ICFAI National Bhopal for Campus conclave on 16-Nov-2007. Please find details of the selected candidates from our esteemed institute, they shall be joining us as Trainee at Gross 1.80 lacs per annum.
Congratulation to you all for selection of 7 students in HDFC Bank interview. Specially to those from INC Jabalpur. Breakup as follows
1. Mr. Pankaj Sharma - INC Ujjain as Asst. Manager
2. Ms. Yeshwinder Houda - INC Ujjain as Trainee
3. Mr. Sumit Jain - INC Ujjain ---------
4. Mr. Neeraj Lalwani - INC Jabalpur ---------
5. Mr. Amit Swarnkar - INC Jabalpur ---------
6. Mr. Prateek Pandey - INC Raipur ----------
7. Mr. Amit Ku. Khare - INC Jhansi -----------
Now Jabalpur and Ujjain have five P & P+ Placements into their account, and Raipur and Jhansi has opened their account with 1 into each account. but we are way behind our targets of 462 students placement. we look forward for you coordination to achieve the targets within stipulated time.
The students have been informed of the job role during their interview with us. The final offer letter shall be sent shortly (10-15 working days). students will be contacted for the same and we shall keep you informed. * Location is subject to change as per the Bank discretion.
Wednesday, November 21, 2007
RFP-INDIA MART INTERMESH
RFP IndiaMart Intermesh Ltd.
Post: MARKETING EXECUTIVE
Job description/ responsibilities
To develop new clientele for various web based business solutions offered by IndiaMART.com. Consultancy to exporters & manufacturers for business facilitation.Key A/c management. Business relationships building & management.
Functional area
Marketing
Level of job
Executive – non-managerial
Locations of job
Delhi/NCR,Punjab(Ludhiana,Jalandhar,Chandigarh), Rajasthan(Jodhpur,Jaipur), Gujarat(Surat,Rajkot,Baroda,Ahmedabad), Maharashtra(Mumbai,Pune) & South-India
Candidate profile
An MBA or equivalent.
Strong analytical & interpersonal skills.
Above all commitment to excellence.
Work experience
0 to 2 years
Salary
CTC- 2,68,200 Only for Delhi/NCR & Maharashtra
CTC- 1,80,000 For Other location
PG qualification
MBA/PGDM
Growth
Marketing Executive
Assistant Sales Manager
Sales Manager
Remarks From T&P Executive:- Only male candidates are required for this profile.
Nominations are required to be given by 1:00 am on 22nd Nov 07 to Center Placement Coordinator.
Post: MARKETING EXECUTIVE
Job description/ responsibilities
To develop new clientele for various web based business solutions offered by IndiaMART.com. Consultancy to exporters & manufacturers for business facilitation.Key A/c management. Business relationships building & management.
Functional area
Marketing
Level of job
Executive – non-managerial
Locations of job
Delhi/NCR,Punjab(Ludhiana,Jalandhar,Chandigarh), Rajasthan(Jodhpur,Jaipur), Gujarat(Surat,Rajkot,Baroda,Ahmedabad), Maharashtra(Mumbai,Pune) & South-India
Candidate profile
An MBA or equivalent.
Strong analytical & interpersonal skills.
Above all commitment to excellence.
Work experience
0 to 2 years
Salary
CTC- 2,68,200 Only for Delhi/NCR & Maharashtra
CTC- 1,80,000 For Other location
PG qualification
MBA/PGDM
Growth
Marketing Executive
Assistant Sales Manager
Sales Manager
Remarks From T&P Executive:- Only male candidates are required for this profile.
Nominations are required to be given by 1:00 am on 22nd Nov 07 to Center Placement Coordinator.
RFP-HURIX Systems Pvt Ltd.
DETAILS OF RFP
Hurix Systems Pvt Ltd
for MBA IT / Systems students
Location = Mumbai ( Andheri)
Salary Offered = 2.4 to 4.4 Lakhs PA depending upon students caliber and previous work Experience.
Experienced Candidates Preferred
Required nominations by 9.00 A.M on 22/11/07
They are looking for some students for Final placements. Some Experienced students from the MBA – IT and Systems will be required. They will be taken for Associate Project Manager / Project Manager Role for Technology Unit.
Hurix Systems Pvt Ltd
for MBA IT / Systems students
Location = Mumbai ( Andheri)
Salary Offered = 2.4 to 4.4 Lakhs PA depending upon students caliber and previous work Experience.
Experienced Candidates Preferred
Required nominations by 9.00 A.M on 22/11/07
They are looking for some students for Final placements. Some Experienced students from the MBA – IT and Systems will be required. They will be taken for Associate Project Manager / Project Manager Role for Technology Unit.
Tuesday, November 20, 2007
RFP Nov 07 Piaggio Vehicles Pvt. Ltd.
According to the mail received from ZO Pune on 20th Nov 07 regarding the RFP of Piaggio. only 10 nominations are required from every region, Maximum two nominations per center are allowed.
Please send nominations and CV's for the following Requirement for placement.
Corporate - Piaggio Vehicles Pvt.Ltd.
Number of vacancies---- 20
Job location---- Across India
Vacancy in Pune-----04
Local candidates preferred.
Selection Process :- CV Shortlisting and two rounds of Interview. Nomination Required from students along withs CVs at the following email IDs by 9.00 am on 21/11/07.
There will be center level shortlisting if there are more than 2 nominations.
Job Title: Management Trainee:
Location: As per our requirements,across India. (The candidate should be willing to relocate to any part of India)
Eligibility: (Must)
60% + aggregate in PGDM/MBA,
Specialization in Marketing.
Stipend of 16,500/- will be paid to management trainees for one year.
Please send nominations and CV's for the following Requirement for placement.
Corporate - Piaggio Vehicles Pvt.Ltd.
Number of vacancies---- 20
Job location---- Across India
Vacancy in Pune-----04
Local candidates preferred.
Selection Process :- CV Shortlisting and two rounds of Interview. Nomination Required from students along withs CVs at the following email IDs by 9.00 am on 21/11/07.
There will be center level shortlisting if there are more than 2 nominations.
Job Title: Management Trainee:
Location: As per our requirements,across India. (The candidate should be willing to relocate to any part of India)
Eligibility: (Must)
60% + aggregate in PGDM/MBA,
Specialization in Marketing.
Stipend of 16,500/- will be paid to management trainees for one year.
Centurion Bank of Punjab Ltd Campus Talent Programme 07-08
Dear All,
Centurion Bank Of Punjab Ltd will be visiting Pune for Campus Talent Programme 2007-2008.
Short-listing Criterion : Only those with 60% in graduation(relaxed to 55% for Delhi & Kolkata University) & 60% in 1st year of MBA/ PG course will be put through for Aptitude test. Only those who have cleared Aptitude test will be put through for GD/PI.
Local Candidates (i.e. Punjab/Chandigarh/Haryana) will be given preference.Job Details and nomination format is atteched with this mailThe Campus Schedule:1) Aptitude Test - 1 hour test
2) Campus - Presentation followed by GD, selected candidates will be put for PIJD: Attached belowFinal location: Punjab/Chandigarh/Haryana/Himachal Pradesh Compensation: Total CTC Rs. 4.4 lacs per annum(See attached file: BB- RM.doc)(See attached file: Format for details.xls)
Nomination should reach Center Placement Coordinator by 21st Nov. 2007 by 4.00 PM. students who are willing to relocate any where in India need to apply.
1 YEAR CAREER ROAD MAP FOR MT @ CBoP
Orientation: MT Joins 15 days prior to the date of induction
Udaan: MT goes through a detailed 11 day induction at Mumbai
OJT : 1-1.5 months ongoing On the Job Training
Product training and financial training
4th month: Targets are allocated. BusinessMentors will handhold MTs during the initial sales calls.
4th month onwards: MTs will perform the role assigned to them
MTs should clear AMFI exam
Mid year/6 monthly review: Immediate managers will review the performance of the MT and give feedback.
MTs are redesignated as RMs
Confirmation/Annual review: Annual performance evaluation of MTs performance : Confirmation based on performance feedback
End of 1 & half years: R&R Programme : Star MTs identified for the R&R scheme Will be offered a fast track career plan.
* Subject to change/review as per Organisation needsRole: Relationship Manager
Sub Function: Branch Banking
Function: Retail Banking
ROLE PROFILE
To acquire, advise, build and retain relationships with customers- Generate profits for the bank by deepening the existing relation with the clients, acquiring new business through direct sales, achieving the given sales targets and cross-selling products, within the banks guidelines and regulatory framework.
JOB DESCRIPTION
Planning- Obtain inputs on client research, market movement etc, Develop and execute individual plan to achieve the budgeted targets client wise / Branch wise / Product wise, track performance of self against target
Generating Customer Base: Identify customers, calling & fixing of meetings, prepare & make presentations, collect client requirements & other related information. Get paper work done through the concerned persons.
Business Development: Build relationships with HNW clients, acquire new business through direct sales and market visits, coordinate to obtain best rates, support other RMs in region, support Branch Head in sales pitches, represent product portfolio to clients, cross sell bank products In Order To meet targeted revenue & maintain profitable portfolio
Making MIS : Pre MIS: Identify sector, identify top 20 players, get data & make cold calls, profiling of prospective client.
Post MIS: Make Excel Sheets MIS, prepare design new methodologies, print reports, cross check reports on daily basis, MIS on cross sell also is prepared.
CORE COMPETENCIES REQUIRED
Drive for results
Planning and Execution Excellence
Customer Centricity
Collaboration and Teamwork
FUNCTIONAL COMPETENCIES REQUIRED
Selling skills
AMFI and JAIIB Certification
Product Knowledge
Industry knowledge - MF/ Insurance
Client Insight
Centurion Bank Of Punjab Ltd will be visiting Pune for Campus Talent Programme 2007-2008.
Short-listing Criterion : Only those with 60% in graduation(relaxed to 55% for Delhi & Kolkata University) & 60% in 1st year of MBA/ PG course will be put through for Aptitude test. Only those who have cleared Aptitude test will be put through for GD/PI.
Local Candidates (i.e. Punjab/Chandigarh/Haryana) will be given preference.Job Details and nomination format is atteched with this mailThe Campus Schedule:1) Aptitude Test - 1 hour test
2) Campus - Presentation followed by GD, selected candidates will be put for PIJD: Attached belowFinal location: Punjab/Chandigarh/Haryana/Himachal Pradesh Compensation: Total CTC Rs. 4.4 lacs per annum(See attached file: BB- RM.doc)(See attached file: Format for details.xls)
Nomination should reach Center Placement Coordinator by 21st Nov. 2007 by 4.00 PM. students who are willing to relocate any where in India need to apply.
1 YEAR CAREER ROAD MAP FOR MT @ CBoP
Orientation: MT Joins 15 days prior to the date of induction
Udaan: MT goes through a detailed 11 day induction at Mumbai
OJT : 1-1.5 months ongoing On the Job Training
Product training and financial training
4th month: Targets are allocated. BusinessMentors will handhold MTs during the initial sales calls.
4th month onwards: MTs will perform the role assigned to them
MTs should clear AMFI exam
Mid year/6 monthly review: Immediate managers will review the performance of the MT and give feedback.
MTs are redesignated as RMs
Confirmation/Annual review: Annual performance evaluation of MTs performance : Confirmation based on performance feedback
End of 1 & half years: R&R Programme : Star MTs identified for the R&R scheme Will be offered a fast track career plan.
* Subject to change/review as per Organisation needsRole: Relationship Manager
Sub Function: Branch Banking
Function: Retail Banking
ROLE PROFILE
To acquire, advise, build and retain relationships with customers- Generate profits for the bank by deepening the existing relation with the clients, acquiring new business through direct sales, achieving the given sales targets and cross-selling products, within the banks guidelines and regulatory framework.
JOB DESCRIPTION
Planning- Obtain inputs on client research, market movement etc, Develop and execute individual plan to achieve the budgeted targets client wise / Branch wise / Product wise, track performance of self against target
Generating Customer Base: Identify customers, calling & fixing of meetings, prepare & make presentations, collect client requirements & other related information. Get paper work done through the concerned persons.
Business Development: Build relationships with HNW clients, acquire new business through direct sales and market visits, coordinate to obtain best rates, support other RMs in region, support Branch Head in sales pitches, represent product portfolio to clients, cross sell bank products In Order To meet targeted revenue & maintain profitable portfolio
Making MIS : Pre MIS: Identify sector, identify top 20 players, get data & make cold calls, profiling of prospective client.
Post MIS: Make Excel Sheets MIS, prepare design new methodologies, print reports, cross check reports on daily basis, MIS on cross sell also is prepared.
CORE COMPETENCIES REQUIRED
Drive for results
Planning and Execution Excellence
Customer Centricity
Collaboration and Teamwork
FUNCTIONAL COMPETENCIES REQUIRED
Selling skills
AMFI and JAIIB Certification
Product Knowledge
Industry knowledge - MF/ Insurance
Client Insight
Thursday, November 8, 2007
Shortlisted candidates TNT Logistics
The following students are shortlisted for TNT Logistics Ltd.
HR
Sno Name of the Student
1 Neha Sen
2 Bhumika Singh
3 Rupal Srivastava
Marketing
1 Yogesh Tiwari
2 Bhoopendra Singh
3 Neeraj Kumar Lalwani
Operations
1 AMIT KUMAR CHOUBEY
2 Sonal Mishra
3 Subhra Mazumdar
Finance
1 Tanu Makkar
2 Vipul Sharma
3 Santosh Sadani
Important Note:
The date of interview is postponed from 18th November07
New Date will be intimated as and when received.
HR
Sno Name of the Student
1 Neha Sen
2 Bhumika Singh
3 Rupal Srivastava
Marketing
1 Yogesh Tiwari
2 Bhoopendra Singh
3 Neeraj Kumar Lalwani
Operations
1 AMIT KUMAR CHOUBEY
2 Sonal Mishra
3 Subhra Mazumdar
Finance
1 Tanu Makkar
2 Vipul Sharma
3 Santosh Sadani
Important Note:
The date of interview is postponed from 18th November07
New Date will be intimated as and when received.
Do's And Dont's Of Interview
How to handle your first face to face interview with the new potential employer
You have won the prize-a "face to face interview with the employer." Now it is up to you, if you want the job you must go for it.
Study the following suggestions and ideas, some of these may help you.
PREPARATION
Do research on the company: go to the library and read the annual reports, study magazine and newspaper articles, get informed.
The impression you make will be a lasting one. It is vital to look your best. Dress conservatively and in good taste. You have one shot, make it the best you can.
Most companies require applications to be filled out, so make sure you are completely prepared: gather addresses and phone numbers of all references and review all pertinent information, including your resume. Remember, when completing the application form, answer all the questions. Do not leave any blanks, if the question does not apply put a line through it or say "does not apply." This way they will know you read the question and answered it.
Be early for the interview, allowing plenty of time for the unexpected. It is always better to wait for the interviewer. While you are waiting, mentally prepare to sell yourself.
Introduce yourself to the Receptionist and let her know who you are there to see. The Receptionist may put in a positive comment about you.
If you are delayed for any reason, notify the interviewer immediately. This is very important and will help you with you current appointment and/or help to schedule a new one.
THE INTERVIEW
Project a positive image and attitude. When you meet the interviewer, smile and offer a firm handshake. Speak clearly, politely and be direct. Make eye contact and be pleasant. Never tell jokes, use swear words, or make negative comments of any kind. Do not be judgmental, criticize or complain about anything. Stay away from politics, religion and personal relationships, since comments and discussions about these can only lead to difficulty for you, watch out!
Give brief but complete answers. Always speak highly of past employers, supervisors and yourself. Remember to stress the many things you have to offer the company.
Always mention throughout the interview your desire to work for this company (at least 3 different times). And the fact that you can and want to make a contribution to their success.
Detailed below is a list of possible questions. Your study of these and the development of correct answers may win the job offer. Is it worth your time? You bet it is!
Why are you interested in this particular position?
Why would you like to work for our company?
What are your short and long term goals?
Where do you see yourself in 5 years?
What do you know about our company?
What can you do for our company?
What contributions have you made in your present position? In your previous position?
What are your major weaknesses? Strengths?
What are your personal interests or hobbies?
How has your education and training prepared you for this job?
Do you prefer working as a member of a team or would you rather work alone?
What career or business would you consider if you were starting over?
How do you react to criticism by supervisors? If you believe it is unwarranted?
What is your idea of success?
What types of people try your patience?
How have you benefited from your disappointments and/or mistakes?
Tell me about yourself.
How do you cope with pressure?
What do you do when you have trouble solving a problem?
What do others think are your strengths?
What do others think are your weaknesses?
What are some of the things your (current/previous) employer might have done to be more successful?
What steps would you take to terminate an employee who is not performing adequately?
How long will you stay with this company?
What do you believe are your special qualifications for this job?
Is there one particular trait or skill you possess that should lead us to consider you above other candidates?
In five minutes or less, tell me why this company should hire you?
What salary are you worth?
Do you expect to be rewarded for work you consider to be well done?
What risks did you take in your last job and what was the outcome?
Why are you leaving your present position?
What factors contribute the most to your success in your present job?
Do ask questions about the duties and responsibilities of the position.
Do not ask questions about salary, vacations, holidays or benefits until the position is offered. You don't want to make it seem that you are more interested in time off than in your opportunity to contribute to the company's success.
Do not let these negative factors cost you the job:
1. Late for the interview without calling
2. Failure to fill out the application properly
3. Poor personal appearance
4. Being overly aggressive and overbearing
5. Inability to express thoughts clearly poor diction or grammar
6. Lack of interest and enthusiasm
7. Lack of confidence, poise and maturity
8. Over emphasis on money and benefits
9. Criticism of past employers, associates, etc.
10. Failure to ask questions about the position and the company
11. Persistent attitude of "What can you do for Me?"
12. Failure to ask for the job
CLOSING THE INTERVIEW
As the interview closes, summarize your qualifications.
Ask for the job, remember you do not have a decision to make until they offer you the job.
Ask what their interest is in you. How did you place as compared with the others they have interviewed?
Thank the interviewer and ask if there is any additional information and/or references you can provide.
Ask what the next step is and again mention that you can start to work right away or after a reasonable notice.
THE OFFER
When an offer is made and it is right, accept it with enthusiasm. If you need to discuss the offer with others, ask for a few days to do that. Set up a definite time to get back with your answer.
When the offer is not exactly as you expected, ask if you can discuss it with them, but start your discussion in steps.
1. First, go over all the duties and responsibilities of the position making sure you fully understand them.
2. Second, go over all the benefits, making sure you fully understand those as well.
3. And thirdly, talk about salary. If you expected more then they offered, say something like "I expected a higher starting salary."
Explain why: tell them what you are currently making and that you expected to get at least that or an increase over that. Ask them if they can go up some to cover that? Do not threaten or demand the increase - you will only lose. It is important that once you presented your position clearly, stop talking and listen. Be prepared, so that if they meet your request, you accept the position or at least show a positive response at this time.
4. Do not state that the market is higher, or you know someone in the same type of job that is getting more, or you need more to live. These comments never work.
5. If they can not raise the starting salary, ask for a review with a performance raise earlier than planned.
6. If this does not work, ask if they can do anything to help you. If they cannot then you have to deal with the offer as it is. This is the time to ask for some time to think about it, maybe a couple of days. If you are working with a recruiter bring the offer to him/her before you make a decision.
7. Remember when you turn an offer down, that's it. It is nearly impossible to recover from a turndown. Therefore, do not decline an offer until you have considered all sides; and, you are sure that is what you want to do. Take the necessary time you need: ask additional questions and talk to people who know about the company and the particular position in question. Good offers (even though not perfect) are hard to come by.
8. If this is your first job opportunity, your evaluation of the offer must be based on the potential of you learning and adding new skills to increase your employment worth and help establish a career path.
THERE IS NO SUBSTITUTE FOR AN ENTHUSIASTIC, POSITIVE ATTITUDE.
ALL THE BEST!!!!!!!
You have won the prize-a "face to face interview with the employer." Now it is up to you, if you want the job you must go for it.
Study the following suggestions and ideas, some of these may help you.
PREPARATION
Do research on the company: go to the library and read the annual reports, study magazine and newspaper articles, get informed.
The impression you make will be a lasting one. It is vital to look your best. Dress conservatively and in good taste. You have one shot, make it the best you can.
Most companies require applications to be filled out, so make sure you are completely prepared: gather addresses and phone numbers of all references and review all pertinent information, including your resume. Remember, when completing the application form, answer all the questions. Do not leave any blanks, if the question does not apply put a line through it or say "does not apply." This way they will know you read the question and answered it.
Be early for the interview, allowing plenty of time for the unexpected. It is always better to wait for the interviewer. While you are waiting, mentally prepare to sell yourself.
Introduce yourself to the Receptionist and let her know who you are there to see. The Receptionist may put in a positive comment about you.
If you are delayed for any reason, notify the interviewer immediately. This is very important and will help you with you current appointment and/or help to schedule a new one.
THE INTERVIEW
Project a positive image and attitude. When you meet the interviewer, smile and offer a firm handshake. Speak clearly, politely and be direct. Make eye contact and be pleasant. Never tell jokes, use swear words, or make negative comments of any kind. Do not be judgmental, criticize or complain about anything. Stay away from politics, religion and personal relationships, since comments and discussions about these can only lead to difficulty for you, watch out!
Give brief but complete answers. Always speak highly of past employers, supervisors and yourself. Remember to stress the many things you have to offer the company.
Always mention throughout the interview your desire to work for this company (at least 3 different times). And the fact that you can and want to make a contribution to their success.
Detailed below is a list of possible questions. Your study of these and the development of correct answers may win the job offer. Is it worth your time? You bet it is!
Why are you interested in this particular position?
Why would you like to work for our company?
What are your short and long term goals?
Where do you see yourself in 5 years?
What do you know about our company?
What can you do for our company?
What contributions have you made in your present position? In your previous position?
What are your major weaknesses? Strengths?
What are your personal interests or hobbies?
How has your education and training prepared you for this job?
Do you prefer working as a member of a team or would you rather work alone?
What career or business would you consider if you were starting over?
How do you react to criticism by supervisors? If you believe it is unwarranted?
What is your idea of success?
What types of people try your patience?
How have you benefited from your disappointments and/or mistakes?
Tell me about yourself.
How do you cope with pressure?
What do you do when you have trouble solving a problem?
What do others think are your strengths?
What do others think are your weaknesses?
What are some of the things your (current/previous) employer might have done to be more successful?
What steps would you take to terminate an employee who is not performing adequately?
How long will you stay with this company?
What do you believe are your special qualifications for this job?
Is there one particular trait or skill you possess that should lead us to consider you above other candidates?
In five minutes or less, tell me why this company should hire you?
What salary are you worth?
Do you expect to be rewarded for work you consider to be well done?
What risks did you take in your last job and what was the outcome?
Why are you leaving your present position?
What factors contribute the most to your success in your present job?
Do ask questions about the duties and responsibilities of the position.
Do not ask questions about salary, vacations, holidays or benefits until the position is offered. You don't want to make it seem that you are more interested in time off than in your opportunity to contribute to the company's success.
Do not let these negative factors cost you the job:
1. Late for the interview without calling
2. Failure to fill out the application properly
3. Poor personal appearance
4. Being overly aggressive and overbearing
5. Inability to express thoughts clearly poor diction or grammar
6. Lack of interest and enthusiasm
7. Lack of confidence, poise and maturity
8. Over emphasis on money and benefits
9. Criticism of past employers, associates, etc.
10. Failure to ask questions about the position and the company
11. Persistent attitude of "What can you do for Me?"
12. Failure to ask for the job
CLOSING THE INTERVIEW
As the interview closes, summarize your qualifications.
Ask for the job, remember you do not have a decision to make until they offer you the job.
Ask what their interest is in you. How did you place as compared with the others they have interviewed?
Thank the interviewer and ask if there is any additional information and/or references you can provide.
Ask what the next step is and again mention that you can start to work right away or after a reasonable notice.
THE OFFER
When an offer is made and it is right, accept it with enthusiasm. If you need to discuss the offer with others, ask for a few days to do that. Set up a definite time to get back with your answer.
When the offer is not exactly as you expected, ask if you can discuss it with them, but start your discussion in steps.
1. First, go over all the duties and responsibilities of the position making sure you fully understand them.
2. Second, go over all the benefits, making sure you fully understand those as well.
3. And thirdly, talk about salary. If you expected more then they offered, say something like "I expected a higher starting salary."
Explain why: tell them what you are currently making and that you expected to get at least that or an increase over that. Ask them if they can go up some to cover that? Do not threaten or demand the increase - you will only lose. It is important that once you presented your position clearly, stop talking and listen. Be prepared, so that if they meet your request, you accept the position or at least show a positive response at this time.
4. Do not state that the market is higher, or you know someone in the same type of job that is getting more, or you need more to live. These comments never work.
5. If they can not raise the starting salary, ask for a review with a performance raise earlier than planned.
6. If this does not work, ask if they can do anything to help you. If they cannot then you have to deal with the offer as it is. This is the time to ask for some time to think about it, maybe a couple of days. If you are working with a recruiter bring the offer to him/her before you make a decision.
7. Remember when you turn an offer down, that's it. It is nearly impossible to recover from a turndown. Therefore, do not decline an offer until you have considered all sides; and, you are sure that is what you want to do. Take the necessary time you need: ask additional questions and talk to people who know about the company and the particular position in question. Good offers (even though not perfect) are hard to come by.
8. If this is your first job opportunity, your evaluation of the offer must be based on the potential of you learning and adding new skills to increase your employment worth and help establish a career path.
THERE IS NO SUBSTITUTE FOR AN ENTHUSIASTIC, POSITIVE ATTITUDE.
ALL THE BEST!!!!!!!
Wednesday, November 7, 2007
Shortlisting of HDFC Bank nominations
The following students got shortlisted for HDFC Bank from RO Bhopal.THe interview date is 16th november at Bhopal.
All shortlisted candidates need to compulsorily attend the interview.
Paramdeep Singh Bharaj
Rupal Srivastav
Archana richaria
Amanpreet
Yogesh namdeo
Amit swarnkar
Ashish namdeo
Ankita Jaiswal
Neha Sen
Tanu Makkar
Deepti Chittoria
Sonal Mishra
Richa Nema
Neeraj Kumar Lalwani
Rohit rajput
Shweta batra
Vivek bhalla
Postponement of TNT Logistics Interview
As per the message received from INC HQ,
Due to unavoidable circumstances the Interview schedule of TNT got postponed which was scheduled to be held on 18th Novemember at Bhopal.
Fresh Dates would be communicated to later.
Placement Team
INC Jabalpur
Due to unavoidable circumstances the Interview schedule of TNT got postponed which was scheduled to be held on 18th Novemember at Bhopal.
Fresh Dates would be communicated to later.
Placement Team
INC Jabalpur
Congratulations -- Vivek Bhalla
Students,Staff and Principal of INC Jabalpur feel extremely proud to congratulate Vivek Bhalla on his success in getting selected for ICICI Bank ,Probationary Officer post.
Keep doing good in life.
Placement Team
INC Jabalpur
Keep doing good in life.
Placement Team
INC Jabalpur
Tuesday, November 6, 2007
Email Inquiring about an open Position
This e-mail asks a company which may or may not be hiring if there are any positions available in your field.I am writing to inquire if has any openings in the area of . I am a recent graduate of with a major in and I have long been interested in working for your firm.
Of course, being a recent graduate I am aware that only an entry-level position would be open to me, but that's quite acceptable. I'm simply looking for a way to enter a field that I find fascinating. I would love to find out more about any relevant positions you have available.
If you are accepting applications, please reply and I can send you a resume via standard mail or e-mail. I have skills and training that I think could be of use to you.
Thank you for your time.
Of course, being a recent graduate I am aware that only an entry-level position would be open to me, but that's quite acceptable. I'm simply looking for a way to enter a field that I find fascinating. I would love to find out more about any relevant positions you have available.
If you are accepting applications, please reply and I can send you a resume via standard mail or e-mail. I have skills and training that I think could be of use to you.
Thank you for your time.
Applicants Respond via e-mail to a Classified Ad
This e-mail responds to a classified ad that asks for applicants to respond via e-mail.In response to your classified ad in the , I am sending you this e-mail to put myself in the running for the position of . I think that once you see my resume, you'll agree that I am the most qualified individual for the position. I graduated from in with a major in . I have spent the last years working in for such companies as . In that time I have developed a wide range of skills, as well as the good judgment that only comes with experience. That is why I think I would be an excellent fit for .
I have attached my resume to this e-mail. If for some reason you are not able to download it, please let me know and I will send you a hard copy immediately. Either way, I feel confident that you will find my qualifications worthy of an interview. I look forward to hearing from you.
Thank you.
I have attached my resume to this e-mail. If for some reason you are not able to download it, please let me know and I will send you a hard copy immediately. Either way, I feel confident that you will find my qualifications worthy of an interview. I look forward to hearing from you.
Thank you.
Essay Writing
Writing an effective essay examination requires two important abilities: recalling information and organizing the information in order to draw relevant conclusions from it. While this process sounds simple, writing an effective essay examination under pressure in limited time can be a daunting task.
Common strategy terms for Essay writing are as follows:
Analyze: Divide an event, idea, or theory into its component elements, and examine each one in turn: Analyze Milton Friedman's theory of permanent income.
Compare and/or Contrast: Demonstrate similarities or dissimilarities between two or more events or topics:
Define: Identify and state the essential traits or characteristics of something, differentiating it clearly from other things: Define Hegelian dialectic.
Describe: Tell about an event, person, or process in detail, creating a clear and vivid image of it: Describe the dress of a knight.
Evaluate: Assess the value or significance of the topic: Evaluate the contribution of black musicians to the development of an American musical tradition.
Explain: Make a topic as clear and understandable as possible by offering reasons, examples, and so on: Explain the functioning of the circulatory system.
Summarize: State the major points concisely and comprehensively: Summarize the major arguments against using animals in laboratory research.
For samples of Essays , check the link http://www.bestsamplequestions.com/sample-essay-questions/sample-essay-questions.html
Common strategy terms for Essay writing are as follows:
Analyze: Divide an event, idea, or theory into its component elements, and examine each one in turn: Analyze Milton Friedman's theory of permanent income.
Compare and/or Contrast: Demonstrate similarities or dissimilarities between two or more events or topics:
Define: Identify and state the essential traits or characteristics of something, differentiating it clearly from other things: Define Hegelian dialectic.
Describe: Tell about an event, person, or process in detail, creating a clear and vivid image of it: Describe the dress of a knight.
Evaluate: Assess the value or significance of the topic: Evaluate the contribution of black musicians to the development of an American musical tradition.
Explain: Make a topic as clear and understandable as possible by offering reasons, examples, and so on: Explain the functioning of the circulatory system.
Summarize: State the major points concisely and comprehensively: Summarize the major arguments against using animals in laboratory research.
For samples of Essays , check the link http://www.bestsamplequestions.com/sample-essay-questions/sample-essay-questions.html
Sample Behavioral Interview Questions : Motivation
Motivation
Give an example of a time when you went above and beyond the call of duty.
Tell me about an important goal that you set in the past. Were you successful? Why?
Describe a situation when you were able to have a positive influence on the actions of others. Give me an example of a time when you went above and beyond the call of duty.
Describe a situation when you were able to have a positive influence on the action of others.
How would you define "success" for someone in your chosen career?
Give examples of your experiences at school or in a job that were satisfying. Give examples of your experiences that were dissatisfying.
What kind of supervisor do you work best for? Provide examples.
Give examples of your experiences at school or in a job that were satisfying.Give examples of your experiences that were dissatisfying
What kind of supervisor do you work best for? Provide examples.
For more interview questions follow the link:
http://www.bestsamplequestions.com/sample-behavioral-interview-questions/sample-behavioral-interview-questions.html
Give an example of a time when you went above and beyond the call of duty.
Tell me about an important goal that you set in the past. Were you successful? Why?
Describe a situation when you were able to have a positive influence on the actions of others. Give me an example of a time when you went above and beyond the call of duty.
Describe a situation when you were able to have a positive influence on the action of others.
How would you define "success" for someone in your chosen career?
Give examples of your experiences at school or in a job that were satisfying. Give examples of your experiences that were dissatisfying.
What kind of supervisor do you work best for? Provide examples.
Give examples of your experiences at school or in a job that were satisfying.Give examples of your experiences that were dissatisfying
What kind of supervisor do you work best for? Provide examples.
For more interview questions follow the link:
http://www.bestsamplequestions.com/sample-behavioral-interview-questions/sample-behavioral-interview-questions.html
Sample Behavioral Interview Questions : Personality
Personality
Following are some sample behavioral questions on personality:
Describe your ideal job.
Where do you see yourself in three to five years?
What type of management style do you thrive under?
When you are not studying or working, what types of activities do you enjoy?
How would your friends (or teacher or supervisor) describe you?
Answer: Keep it honest and positive. Remember this is not necessarily how you would describe yourself. Your friends may see your fun and quirks while your supervisor might see your dedication and adaptability.
What motivates your best work?
Answer: Consider the job. If you need praise or excitement or deadlines, not all jobs offer these. Give an example.
Give me an example of a problem you have had with a team member, co-worker, or employee and how you resolved it.
Answer: Talking it over with the person involved, using non-accusatory language and a caring, problem-solving approach, is the first step. Discussing it with your team members or a supervisor, as applicable, is next. Get to resolution, whether it was a reprimand, expulsion from the group, firing, your agreement with that person's point of view, or the person's change of behavior.
How do you keep track of things you need to do?
Answer: You are on your own. Most answers will work, except saying that you just remember everything.
Would you rather write a report or give it verbally? Why?
Answer: State your preference, but indicate your comfort with either approach as the situation warrants. Knowing the job requirements will assist with this question. Many jobs require both skills.
Give me an example of a high-pressure situation you have faced this past year and how you resolved it.
Answer: Your skills in organization and prioritization of tasks, your willingness to request your supervisor's assistance with establishing priorities, or ability to stay calm in pressure situations, are all appropriate to mention if applicable.
Following are some sample behavioral questions on personality:
Describe your ideal job.
Where do you see yourself in three to five years?
What type of management style do you thrive under?
When you are not studying or working, what types of activities do you enjoy?
How would your friends (or teacher or supervisor) describe you?
Answer: Keep it honest and positive. Remember this is not necessarily how you would describe yourself. Your friends may see your fun and quirks while your supervisor might see your dedication and adaptability.
What motivates your best work?
Answer: Consider the job. If you need praise or excitement or deadlines, not all jobs offer these. Give an example.
Give me an example of a problem you have had with a team member, co-worker, or employee and how you resolved it.
Answer: Talking it over with the person involved, using non-accusatory language and a caring, problem-solving approach, is the first step. Discussing it with your team members or a supervisor, as applicable, is next. Get to resolution, whether it was a reprimand, expulsion from the group, firing, your agreement with that person's point of view, or the person's change of behavior.
How do you keep track of things you need to do?
Answer: You are on your own. Most answers will work, except saying that you just remember everything.
Would you rather write a report or give it verbally? Why?
Answer: State your preference, but indicate your comfort with either approach as the situation warrants. Knowing the job requirements will assist with this question. Many jobs require both skills.
Give me an example of a high-pressure situation you have faced this past year and how you resolved it.
Answer: Your skills in organization and prioritization of tasks, your willingness to request your supervisor's assistance with establishing priorities, or ability to stay calm in pressure situations, are all appropriate to mention if applicable.
Sample Behavioral Interview Questions : Flexibility
Sample Behavioral Interview Questions : Flexibility
Flexibility
Following are some sample behavioral questions on flexibility:
Describe a time where you were faced with problems or stresses that tested your coping skills.
Describe a time when you put your needs aside to help a co-worker understand a task. How did you assist them? What was the result?
Give me an example of a time when the rules or structure of a project were changed last minute.
Give me an example of a time when you had two important projects competing for your time.
Give me an example of a time when you were forced to change your negotiating position midway in order to achieve an objective
Flexibility
Following are some sample behavioral questions on flexibility:
Describe a time where you were faced with problems or stresses that tested your coping skills.
Describe a time when you put your needs aside to help a co-worker understand a task. How did you assist them? What was the result?
Give me an example of a time when the rules or structure of a project were changed last minute.
Give me an example of a time when you had two important projects competing for your time.
Give me an example of a time when you were forced to change your negotiating position midway in order to achieve an objective
Sample Behavioral Interview Questions : Teamwork
Following are some sample behavioral interview questions on Teamwork:
Describe the types of teams you've been involved with. What were your roles?
Describe a team experience you found rewarding.
Describe a team experience you found disappointing. What would you have done to prevent this?
Describe a situation where others you were working with on a project disagreed with your ideas. What did you do?
Tell of a time when you worked with a colleague who was not completing their share of the work. Who, if anyone, did you tell or talk to about it? Did the manager take any steps to correct your colleague? Did you agree or disagree with the manager's actions?
Describe a situation in which you found that your results were not up to your professor's or supervisor's expectations. What happened? What action did you take?
Describe a situation in which you had to arrive at a compromise or guide others to a compromise.
What did you do in your last job/internship to contribute toward a teamwork environment?
Tell me about a time when you put the needs of a group before your own when completing a task.
Tell me about a time when a willingness to share your knowledge significantly enhanced an outcome or decision.
Describe the types of teams you've been involved with. What were your roles?
Describe a team experience you found rewarding.
Describe a team experience you found disappointing. What would you have done to prevent this?
Describe a situation where others you were working with on a project disagreed with your ideas. What did you do?
Tell of a time when you worked with a colleague who was not completing their share of the work. Who, if anyone, did you tell or talk to about it? Did the manager take any steps to correct your colleague? Did you agree or disagree with the manager's actions?
Describe a situation in which you found that your results were not up to your professor's or supervisor's expectations. What happened? What action did you take?
Describe a situation in which you had to arrive at a compromise or guide others to a compromise.
What did you do in your last job/internship to contribute toward a teamwork environment?
Tell me about a time when you put the needs of a group before your own when completing a task.
Tell me about a time when a willingness to share your knowledge significantly enhanced an outcome or decision.
Sample Behavioral Interview Questions : Analysis
Following are some sample behavioral questions on Analysis: Especially for those candidtaes with prior experience.
What steps do you follow to study a problem before making a decision?
We can sometimes identify a small problem and fix it before it becomes a major problem. Give an example(s) of how you have done this.
Describe a situation in which you had to collect information by asking many questions of several people.
Recall a time from your work experience when your manager or supervisor was unavailable and a problem arose. hat was the nature of the problem? How did you handle that situation? How did that make you feel?
Recall a time when you were assigned what you considered to be a complex project. Specifically, what steps did you take to prepare for and finish the project? Were you happy with the outcome? What one step would you have done differently if given the chance?
In a supervisory or group leader role, have you ever had to discipline or counsel an employee or group member? What was the nature of the discipline? What steps did you take? How did that make you feel? How did you prepare yourself?
What was the most complex assignment you have had? What was your role?
What steps do you follow to study a problem before making a decision?
We can sometimes identify a small problem and fix it before it becomes a major problem. Give an example(s) of how you have done this.
Describe a situation in which you had to collect information by asking many questions of several people.
Recall a time from your work experience when your manager or supervisor was unavailable and a problem arose. hat was the nature of the problem? How did you handle that situation? How did that make you feel?
Recall a time when you were assigned what you considered to be a complex project. Specifically, what steps did you take to prepare for and finish the project? Were you happy with the outcome? What one step would you have done differently if given the chance?
In a supervisory or group leader role, have you ever had to discipline or counsel an employee or group member? What was the nature of the discipline? What steps did you take? How did that make you feel? How did you prepare yourself?
What was the most complex assignment you have had? What was your role?
Sample Behavioral Interview Questions : Initiative
Give me examples of projects/tasks you started on your own.
Give some instances in which you anticipated problems and were able to influence a new direction.
Describe some projects or ideas (not necessarily your own) that were implemented, or carried out successfully primarily because of your efforts.
Describe a situation that required a number of things to be done at the same time. How did you handle it? What was the result?
Have you found any ways to make school or a job easier or more rewarding?
What did you do to prepare for this interview?
Give me an example of a situation that could not have happened successfully without you being there.
Preparing for Telephonic Interview
Employers use telephone interviews as a way of identifying and recruiting candidates for employment. Phone interviews are often used to screen candidates in order to narrow the pool of applicants who will be invited for in-person interviews. They are also used as way to minimize the expenses involved in interviewing out-of-town candidates.
While you're actively job searching, it's important to be prepared for a phone interview on a moment's notice. You never know when a recruiter or a networking contact might call and ask if you have a few minutes to talk.
Prepare for a phone interview just as you would for a regular interview. Compile a list of your strengths and weaknesses, as well as a list of answers to typical interview questions. In addition, plan on being prepared for a phone conversation about your background and skills.
Keep your resume in clear view, on the top of your desk, or tape it to the wall near the phone, so it's at your fingertips when you need to answer questions. Have a short list of your accomplishments available to review. Have a pen and paper handy for note taking. Turn call-waiting off so your call isn't interrupted. If the time isn't convenient, ask if you could talk at another time and suggest some alternatives. Clear the room - Turn off the stereo and the TV. Close the door.
Talking on the phone isn't as easy as it seems. I've always found it's helpful to practice. Have a friend or family member conduct a mock interview and tape record it so you can see how you sound over the phone. Any cassette recorder will work. You'll be able to hear your "ums" and "uhs" and "Okays" and you can practice reducing them from your conversational speech. Also rehearse answers to those typical questions you'll be asked.
During the Phone Interview, don't smoke, chew gum, eat, or drink. Do keep a glass of water handy, in case you need to wet your mouth. Smile. Smiling will project a positive image to the listener and will change the tone of your voice. Speak slowly and enunciate clearly. Use the person's title (Mr. or Ms. and their last name.) Only use a first name if they ask you to. Don't interrupt the interviewer. Take your time - it's perfectly acceptable to take a moment or two to collect your thoughts. Give short answers.
Remember your goal is to set-up a face-to-face interview. After you thank the interviewer ask if it would be possible to meet in person.
After the Interview, take notes about what you were asked and how you answered. Remember to say "thank you." Follow with a thank you note which reiterates your interest in the job.
While you're actively job searching, it's important to be prepared for a phone interview on a moment's notice. You never know when a recruiter or a networking contact might call and ask if you have a few minutes to talk.
Prepare for a phone interview just as you would for a regular interview. Compile a list of your strengths and weaknesses, as well as a list of answers to typical interview questions. In addition, plan on being prepared for a phone conversation about your background and skills.
Keep your resume in clear view, on the top of your desk, or tape it to the wall near the phone, so it's at your fingertips when you need to answer questions. Have a short list of your accomplishments available to review. Have a pen and paper handy for note taking. Turn call-waiting off so your call isn't interrupted. If the time isn't convenient, ask if you could talk at another time and suggest some alternatives. Clear the room - Turn off the stereo and the TV. Close the door.
Talking on the phone isn't as easy as it seems. I've always found it's helpful to practice. Have a friend or family member conduct a mock interview and tape record it so you can see how you sound over the phone. Any cassette recorder will work. You'll be able to hear your "ums" and "uhs" and "Okays" and you can practice reducing them from your conversational speech. Also rehearse answers to those typical questions you'll be asked.
During the Phone Interview, don't smoke, chew gum, eat, or drink. Do keep a glass of water handy, in case you need to wet your mouth. Smile. Smiling will project a positive image to the listener and will change the tone of your voice. Speak slowly and enunciate clearly. Use the person's title (Mr. or Ms. and their last name.) Only use a first name if they ask you to. Don't interrupt the interviewer. Take your time - it's perfectly acceptable to take a moment or two to collect your thoughts. Give short answers.
Remember your goal is to set-up a face-to-face interview. After you thank the interviewer ask if it would be possible to meet in person.
After the Interview, take notes about what you were asked and how you answered. Remember to say "thank you." Follow with a thank you note which reiterates your interest in the job.
Interview Q & A
When you walk in the room, the very first impression you make on the interviewer can have a great influence on the rest of the interview. It is important that you introduce yourself, shake hands, and are friendly.
The first question is often a "breaking the ice" (establish a rapport) type of question. Don't be surprised if the interviewer asks you something like: How are you today? Did you have any trouble finding us? What do you think of the weather lately?
Don't be surprised by the friendly tone. The interviewer wants to put you at ease (help you relax). Answer the question without going into too much detail. The language you use should be simple but polite.
Talking about your experience and credentials (qualifications) is the most important part of any job interview. Your qualifications include your education from High School on and any special training you may have done in the past. Your experience is any work that you have done that is directly or indirectly related to the job you are applying for.
Work experience is by far the most important topic of any job interview (at least in the United States and Britain). Therefore, it is important to explain what experience you have in detail. Generally, employers want to know exactly what you did and how well you accomplished your tasks. This is not the time to be modest. Be confident, and talk freely about your accomplishments in past employment, if any.
Most importantly, you will need to demonstrate your qualifications and skills, which are required for the job you are applying for. The job skills that you have acquired in the past may not have been for the same exact job. Therefore, it is important to show how the capabilities you do have relate to the job you are applying for.
You only have a few minutes to show how good you really are. By using the precise sentences and being confident can help you make the best impression possible. Here are some typical questions and suggested answers:
Tell me about yourself: What the hiring manager really wants is a quick, two- to three-minute snapshot of whom you are and why you’re the best candidate for this position.
What is your long-range objective? The key is to focus on your achievable objectives and what you are doing to reach those objectives. Then go on to show by your examples what you are doing to reach your goals and objectives.
How has your education prepared you for your career? This is a broad question and you need to focus on the behavioral examples in your educational background which specifically align to the required competencies for the career. Focus on behavioral examples supporting the key competencies for the career. Then ask if they would like to hear more examples.
Are you a team player? Emphasize teamwork behavioral examples and focus on your openness to diversity of backgrounds. Talk about the strength of the team above the individual. And note that this question may be used as a lead in to questions around how you handle conflict within a team, so be prepared.
What is your greatest weakness? Talk about a true weakness and show what you are doing to overcome it.
If I were to ask your boss or professors to describe you, what would they say? Ask any prior bosses or professors in advance. And if they’re willing to provide a positive reference, ask them for a letter of recommendation. So be prepared in advance with your letters of recommendation.
What qualities do you feel a successful manager should have? It is suggested that you focus on two issues: Leadership and Vision. Then give an example of someone who has touched your life and how their impact has helped in your personal development.
The first question is often a "breaking the ice" (establish a rapport) type of question. Don't be surprised if the interviewer asks you something like: How are you today? Did you have any trouble finding us? What do you think of the weather lately?
Don't be surprised by the friendly tone. The interviewer wants to put you at ease (help you relax). Answer the question without going into too much detail. The language you use should be simple but polite.
Talking about your experience and credentials (qualifications) is the most important part of any job interview. Your qualifications include your education from High School on and any special training you may have done in the past. Your experience is any work that you have done that is directly or indirectly related to the job you are applying for.
Work experience is by far the most important topic of any job interview (at least in the United States and Britain). Therefore, it is important to explain what experience you have in detail. Generally, employers want to know exactly what you did and how well you accomplished your tasks. This is not the time to be modest. Be confident, and talk freely about your accomplishments in past employment, if any.
Most importantly, you will need to demonstrate your qualifications and skills, which are required for the job you are applying for. The job skills that you have acquired in the past may not have been for the same exact job. Therefore, it is important to show how the capabilities you do have relate to the job you are applying for.
You only have a few minutes to show how good you really are. By using the precise sentences and being confident can help you make the best impression possible. Here are some typical questions and suggested answers:
Tell me about yourself: What the hiring manager really wants is a quick, two- to three-minute snapshot of whom you are and why you’re the best candidate for this position.
What is your long-range objective? The key is to focus on your achievable objectives and what you are doing to reach those objectives. Then go on to show by your examples what you are doing to reach your goals and objectives.
How has your education prepared you for your career? This is a broad question and you need to focus on the behavioral examples in your educational background which specifically align to the required competencies for the career. Focus on behavioral examples supporting the key competencies for the career. Then ask if they would like to hear more examples.
Are you a team player? Emphasize teamwork behavioral examples and focus on your openness to diversity of backgrounds. Talk about the strength of the team above the individual. And note that this question may be used as a lead in to questions around how you handle conflict within a team, so be prepared.
What is your greatest weakness? Talk about a true weakness and show what you are doing to overcome it.
If I were to ask your boss or professors to describe you, what would they say? Ask any prior bosses or professors in advance. And if they’re willing to provide a positive reference, ask them for a letter of recommendation. So be prepared in advance with your letters of recommendation.
What qualities do you feel a successful manager should have? It is suggested that you focus on two issues: Leadership and Vision. Then give an example of someone who has touched your life and how their impact has helped in your personal development.
Interview preparation
Present yourself in a professional manner. This includes, but is not limited to wearing clean, wrinkle free clothing that is professional in nature. This usually means pants (not jeans), nice shirt, and dressier shoes (no sandals).
Making sure your fingernails are clean and trimmed. Removing excessive jewelry, such as tongue or nose rings. Be polite. Say “Please” and “Thank you”, let the interviewer speak first and direct the interview.
Think about what questions might be asked before entering the interview. For instance, if the job requires special skills, think about what you will say to show that you have experience in those areas. Many employers will ask general questions such as:
“Tell me about yourself.”
“What do you consider your biggest strength and weakness to be?”
“Why do you think you’re the best candidate for the job”
“Tell me about the experiences you’ve had in this field.”
“What do you expect to get paid?”- find out before the interview if there is a fixed pay schedule or if you are going to be expected to negotiate for your salary.
“If I were to ask people who know you, what would they say you’re worst quality is?”- Always give a quality that is actually good in an employee, like “work too much!”
Always have three questions ready to ask at the end of the interview. This shows the employer that you are interested in the job and that you have thought about important issues related to getting hired. Examples are: What is expected of employees in this position (if that hasn’t already been discussed). What are the hours required for the job. What benefits are offered?
Practice makes perfect or at least leads to improvement. Practice with a friend and record or videotape your responses so you can replay the interview and see how well you did. Prepare answers to commonly asked interview questions. Doing so will help you analyze your background and qualifications for the position.
Making sure your fingernails are clean and trimmed. Removing excessive jewelry, such as tongue or nose rings. Be polite. Say “Please” and “Thank you”, let the interviewer speak first and direct the interview.
Think about what questions might be asked before entering the interview. For instance, if the job requires special skills, think about what you will say to show that you have experience in those areas. Many employers will ask general questions such as:
“Tell me about yourself.”
“What do you consider your biggest strength and weakness to be?”
“Why do you think you’re the best candidate for the job”
“Tell me about the experiences you’ve had in this field.”
“What do you expect to get paid?”- find out before the interview if there is a fixed pay schedule or if you are going to be expected to negotiate for your salary.
“If I were to ask people who know you, what would they say you’re worst quality is?”- Always give a quality that is actually good in an employee, like “work too much!”
Always have three questions ready to ask at the end of the interview. This shows the employer that you are interested in the job and that you have thought about important issues related to getting hired. Examples are: What is expected of employees in this position (if that hasn’t already been discussed). What are the hours required for the job. What benefits are offered?
Practice makes perfect or at least leads to improvement. Practice with a friend and record or videotape your responses so you can replay the interview and see how well you did. Prepare answers to commonly asked interview questions. Doing so will help you analyze your background and qualifications for the position.
Sample Questions
Interviews are always stressful - even for job seekers who have gone on countless interviews. The best way to reduce the stress is to be prepared. Take the time to review the "standard" interview questions you will most likely be asked. Also review sample answers to these typical interview questions.
Then take the time to research the company. That way you'll be ready with knowledgeable answers for the job interview questions that specifically relate to the company you are interviewing with.
Questions about Work History
Name of company, position title and description, dates of employment.
What were your expectations for the job and to what extent were they met?
What were your starting and final levels of compensation?
What were your responsibilities?
What major challenges and problems did you face? How did you handle them?
Which was most / least rewarding?
What were the biggest accomplishment / failure in this position?
What was it like working for your supervisor?
Why are you leaving your job?
Why were you fired?
Questions about You
Describe a typical work week.
How many hours do you normally work?
How would you describe the pace at which you work?
How do you handle stress and pressure?
What motivates you?
What are your salary expectations?
What do you find are the most difficult decisions to make?
Do you prefer to work independently or on a team?
Give some examples of team work.
What type of work environment do you prefer?
Describe a difficult work situation / project and how you overcame it.
How do you evaluate success?
Questions about the New Job and Company
What interests you about this job?
Why do you want this job?
What applicable attributes / experience do you have?
Are you overqualified for this job?
Why are you the best person for the job?
Why should we hire you?
What do you know about this company?
Why do you want to work for this organization?
What challenges are you looking for in a position?
What can you contribute to this company?
Are you willing to travel?
Questions about The Future
What are you looking for in your next job? What is important to you?
What are your goals for the next five years / ten years?
How do you plan to achieve those goals?
What are your salary requirements - both short-term and long-term?
What to Say If You've Been Fired
If you were fired from your job, you will need to be prepared with an answer as to why you were fired.
Questions to Ask
The last job interview question you may be asked is "What can I answer for you?" Have an interview question or two of your own ready to ask. You aren't simply trying to get this job - you are also interviewing the employer to assess whether this company and the position are a good fit for you.
Then take the time to research the company. That way you'll be ready with knowledgeable answers for the job interview questions that specifically relate to the company you are interviewing with.
Questions about Work History
Name of company, position title and description, dates of employment.
What were your expectations for the job and to what extent were they met?
What were your starting and final levels of compensation?
What were your responsibilities?
What major challenges and problems did you face? How did you handle them?
Which was most / least rewarding?
What were the biggest accomplishment / failure in this position?
What was it like working for your supervisor?
Why are you leaving your job?
Why were you fired?
Questions about You
Describe a typical work week.
How many hours do you normally work?
How would you describe the pace at which you work?
How do you handle stress and pressure?
What motivates you?
What are your salary expectations?
What do you find are the most difficult decisions to make?
Do you prefer to work independently or on a team?
Give some examples of team work.
What type of work environment do you prefer?
Describe a difficult work situation / project and how you overcame it.
How do you evaluate success?
Questions about the New Job and Company
What interests you about this job?
Why do you want this job?
What applicable attributes / experience do you have?
Are you overqualified for this job?
Why are you the best person for the job?
Why should we hire you?
What do you know about this company?
Why do you want to work for this organization?
What challenges are you looking for in a position?
What can you contribute to this company?
Are you willing to travel?
Questions about The Future
What are you looking for in your next job? What is important to you?
What are your goals for the next five years / ten years?
How do you plan to achieve those goals?
What are your salary requirements - both short-term and long-term?
What to Say If You've Been Fired
If you were fired from your job, you will need to be prepared with an answer as to why you were fired.
Questions to Ask
The last job interview question you may be asked is "What can I answer for you?" Have an interview question or two of your own ready to ask. You aren't simply trying to get this job - you are also interviewing the employer to assess whether this company and the position are a good fit for you.
Interview Tips
I am sure these Interview Tips will help .. Check out.....
Successful interviewing will be essential in order for you to lock in an offer. Here are some interview tips and strategies for an effective interview from preparation through follow up.
Company Research should always be your first step. Gathering background information on employers is a crucial element in successful interview preparation. You will need to be prepared to answer the questions "What do your know about our company?" and "Why do you want to work here?" Knowing as much as possible about the company's past performance and future plans can make your interview more interactive and could be just the leg up you need in a competitive job market.
Practice makes perfect or at least leads to improvement. Practice with a friend and record or videotape your responses so you can replay the interview and see how well you did. Prepare answers to commonly asked interview questions. Doing so will help you analyze your background and qualifications for the position.
Behavior based interviewing is becoming more common. It is based on the premise that a candidates past performance is the best predictor of future performance. Rather than the typical interview questions on your background and experience, you will need to be prepared to provide detailed responses including specific examples of your work experiences.
The best way to prepare is to think of examples where you have successfully used the skills you've acquired. Take the time to compile a list of responses to both types of questions and to itemize your skills, values, and interests as well as your strengths and weaknesses. Emphasize what you can do to benefit the company rather than just what you are interested in. Also prepare a list of questions you want to ask the interviewer. Remember, you aren't simply trying to get the job - you are also interviewing the employer to assess whether this company and the position are a good fit for you.
Memorize your resume. Imagine the embarrassment if your interviewer asks you to elaborate on the summer you spent pearl diving off the coast of Tanzania, and you can't even remember where Tanzania is. For every item on your resume, try to have a paragraph's worth of information, in addition to what is already listed. It is even better to think of a way in which each item illustrates one of your particular strengths or weaknesses. If you're too nervous to remember everything, it's all right to hold a copy of your resume in your hand to jog your memory. But don't forget to continue making eye contact with your interviewer.
Prepare for the interview. It is very important to be on time for the interview. On time means ten to fifteen minutes early. If need be, take some time to drive to the office ahead of time so you know exactly where you are going. Know the interviewer's name and use it during the interview. If you are not sure of the name, call and ask prior to the interview. Remember to bring an extra copy of your resume and a list of references.
Dress appropriately. This one may seem basic, but it's easier said than done. Before you start your rounds of interviews, be sure to have a comfortable, clean, fairly conservative outfit. Don't neglect such crucial details as dark socks for guys or stockings without rips for women. Invest in a nice folder or portfolio in which to stash your resumes - otherwise you'll end up hurriedly smoothing them out after extracting them from the bottom of your backpack.
During the interview try to remain as calm as possible. Ask for clarification if you're not sure what's been asked and remember that it is perfectly acceptable to take a moment or two to frame your responses so you can be sure too fully answer the question.
End the interview with a thank you to the interviewer and reiterate your interest in the position. Then follow-up with a personal thank you letter, the day after the interview took place restating your interest.
All the Best!!!!!
Successful interviewing will be essential in order for you to lock in an offer. Here are some interview tips and strategies for an effective interview from preparation through follow up.
Company Research should always be your first step. Gathering background information on employers is a crucial element in successful interview preparation. You will need to be prepared to answer the questions "What do your know about our company?" and "Why do you want to work here?" Knowing as much as possible about the company's past performance and future plans can make your interview more interactive and could be just the leg up you need in a competitive job market.
Practice makes perfect or at least leads to improvement. Practice with a friend and record or videotape your responses so you can replay the interview and see how well you did. Prepare answers to commonly asked interview questions. Doing so will help you analyze your background and qualifications for the position.
Behavior based interviewing is becoming more common. It is based on the premise that a candidates past performance is the best predictor of future performance. Rather than the typical interview questions on your background and experience, you will need to be prepared to provide detailed responses including specific examples of your work experiences.
The best way to prepare is to think of examples where you have successfully used the skills you've acquired. Take the time to compile a list of responses to both types of questions and to itemize your skills, values, and interests as well as your strengths and weaknesses. Emphasize what you can do to benefit the company rather than just what you are interested in. Also prepare a list of questions you want to ask the interviewer. Remember, you aren't simply trying to get the job - you are also interviewing the employer to assess whether this company and the position are a good fit for you.
Memorize your resume. Imagine the embarrassment if your interviewer asks you to elaborate on the summer you spent pearl diving off the coast of Tanzania, and you can't even remember where Tanzania is. For every item on your resume, try to have a paragraph's worth of information, in addition to what is already listed. It is even better to think of a way in which each item illustrates one of your particular strengths or weaknesses. If you're too nervous to remember everything, it's all right to hold a copy of your resume in your hand to jog your memory. But don't forget to continue making eye contact with your interviewer.
Prepare for the interview. It is very important to be on time for the interview. On time means ten to fifteen minutes early. If need be, take some time to drive to the office ahead of time so you know exactly where you are going. Know the interviewer's name and use it during the interview. If you are not sure of the name, call and ask prior to the interview. Remember to bring an extra copy of your resume and a list of references.
Dress appropriately. This one may seem basic, but it's easier said than done. Before you start your rounds of interviews, be sure to have a comfortable, clean, fairly conservative outfit. Don't neglect such crucial details as dark socks for guys or stockings without rips for women. Invest in a nice folder or portfolio in which to stash your resumes - otherwise you'll end up hurriedly smoothing them out after extracting them from the bottom of your backpack.
During the interview try to remain as calm as possible. Ask for clarification if you're not sure what's been asked and remember that it is perfectly acceptable to take a moment or two to frame your responses so you can be sure too fully answer the question.
End the interview with a thank you to the interviewer and reiterate your interest in the position. Then follow-up with a personal thank you letter, the day after the interview took place restating your interest.
All the Best!!!!!
Monday, November 5, 2007
Overview of HDFC Bank
HDFC Bank Ltd.
Profile
The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalisation of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.
Promoters
HDFC is India's premier housing finance company and enjoys an impeccable track record in India as well as in international markets. Since its inception in 1977, the Corporation has maintained a consistent and healthy growth in its operations to remain the market leader in mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. With its experience in the financial markets, a strong market reputation, large shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment.
Business Focus
HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build sound customer franchises across distinct businesses so as to be the preferred provider of banking services for target retail and wholesale customer segments, and to achieve healthy growth in profitability, consistent with the bank's risk appetite. The bank is committed to maintain the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank's business philosophy is based on four core values - Operational Excellence, Customer Focus, Product Leadership and People.
Capital Structure
The authorised capital of HDFC Bank is Rs.450 crore (Rs.4.5 billion). The paid-up capital is Rs.311.9 crore (Rs.3.1 billion). The HDFC Group holds 22.1% of the bank's equity and about 19.4% of the equity is held by the ADS Depository (in respect of the bank's American Depository Shares (ADS) Issue). Roughly 31.3% of the equity is held by Foreign Institutional Investors (FIIs) and the bank has about 190,000 shareholders. The shares are listed on the The Stock Exchange, Mumbai and the National Stock Exchange. The bank's American Depository Shares are listed on the New York Stock Exchange (NYSE) under the symbol "HDB
Times Bank Amalgamation
In a milestone transaction in the Indian banking industry, Times Bank Limited (another new private sector bank promoted by Bennett, Coleman & Co./Times Group) was merged with HDFC Bank Ltd., effective February 26, 2000. As per the scheme of amalgamation approved by the shareholders of both banks and the Reserve Bank of India, shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank. The acquisition added significant value to HDFC Bank in terms of increased branch network, expanded geographic reach, enhanced customer base, skilled manpower and the opportunity to cross-sell and leverage alternative delivery channels.
Distribution Network
HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of over
Branches()
535 branches spread over
City()
228 cities across India. All branches are linked on an online real-time basis. Customers in over 120 locations are also serviced through Telephone Banking. The Bank's expansion plans take into account the need to have a presence in all major industrial and commercial centres where its corporate customers are located as well as the need to build a strong retail customer base for both deposits and loan products. Being a clearing/settlement bank to various leading stock exchanges, the Bank has branches in the centres where the NSE/BSE have a strong and active member base. The Bank also has a network of about over
atms()
1200 networked ATMs across these cities. Moreover, HDFC Bank's ATM network can be accessed by all domestic and international Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and American Express Credit/Charge cardholders.
Management
Mr. Jagdish Capoor took over as the bank's Chairman in July 2001. Prior to this, Mr. Capoor was a Deputy Governor of the Reserve Bank of India.The Managing Director, Mr. Aditya Puri, has been a professional banker for over 25 years, and before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia.The Bank's Board of Directors is composed of eminent individuals with a wealth of experience in public policy, administration, industry and commercial banking. Senior executives representing HDFC are also on the Board. Senior banking professionals with substantial experience in India and abroad head various businesses and functions and report to the Managing Director. Given the professional expertise of the management team and the overall focus on recruiting and retaining the best talent in the industry, the bank believes that its people are a significant competitive strength.
Technology
HDFC Bank operates in a highly automated environment in terms of information technology and communication systems. All the bank's branches have online connectivity, which enables the bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also provided to retail customers through the branch network and Automated Teller Machines (ATMs). The Bank has made substantial efforts and investments in acquiring the best technology available internationally, to build the infrastructure for a world class bank. In terms of software, the Corporate Banking business is supported by Flexcube, while the Retail Banking business by Finware, both from i-flex Solutions Ltd. The systems are open, scaleable and web-enabled. The Bank has prioritised its engagement in technology and the internet as one of its key goals and has already made significant progress in web-enabling its core businesses. In each of its businesses, the Bank has succeeded in leveraging its market position, expertise and technology to create a competitive advantage and build market share.
HDFC Bank offers a wide range of commercial and transactional banking services and treasury products to wholesale and retail customers. The bank has three key business segments:
Wholesale Banking ServicesThe Bank's target market ranges from large, blue-chip manufacturing companies in the Indian corporate to small & mid-sized corporates and agri-based businesses. For these customers, the Bank provides a wide range of commercial and transactional banking services, including working capital finance, trade services, transactional services, cash management, etc. The bank is also a leading provider of structured solutions, which combine cash management services with vendor and distributor finance for facilitating superior supply chain management for its corporate customers. Based on its superior product delivery / service levels and strong customer orientation, the Bank has made significant inroads into the banking consortia of a number of leading Indian corporates including multinationals, companies from the domestic business houses and prime public sector companies. It is recognised as a leading provider of cash management and transactional banking solutions to corporate customers, mutual funds, stock exchange members and banks.
Retail Banking Services The objective of the Retail Bank is to provide its target market customers a full range of financial products and banking services, giving the customer a one-stop window for all his/her banking requirements. The products are backed by world-class service and delivered to the customers through the growing branch network, as well as through alternative delivery channels like ATMs, Phone Banking, NetBanking and Mobile Banking.The HDFC Bank Preferred program for high net worth individuals, the HDFC Bank Plus and the Investment Advisory Services programs have been designed keeping in mind needs of customers who seek distinct financial solutions, information and advice on various investment avenues. The Bank also has a wide array of retail loan products including Auto Loans, Loans against marketable securities, Personal Loans and Loans for Two-wheelers. It is also a leading provider of Depository Participant (DP) services for retail customers, providing customers the facility to hold their investments in electronic form.HDFC Bank was the first bank in India to launch an International Debit Card in association with VISA (VISA Electron) and issues the Mastercard Maestro debit card as well. The Bank launched its credit card business in late 2001. By September 30, 2005, the bank had a total card base (debit and credit cards) of 5.2 million cards. The Bank is also one of the leading players in the "merchant acquiring" business with over 50,000 Point-of-sale (POS) terminals for debit / credit cards acceptance at merchant establishments.
TreasuryWithin this business, the bank has three main product areas - Foreign Exchange and Derivatives, Local Currency Money Market & Debt Securities, and Equities. With the liberalisation of the financial markets in India, corporates need more sophisticated risk management information, advice and product structures. These and fine pricing on various treasury products are provided through the bank's Treasury team. To comply with statutory reserve requirements, the bank is required to hold 25% of its deposits in government securities. The Treasury business is responsible for managing the returns and market risk on this investment portfolio.
Businesses
Rating
Credit Rating The Bank has its deposit programs rated by two rating agencies - Credit Analysis & Research Limited (CARE) and Fitch Ratings India Private Limited. The Bank's Fixed Deposit programme has been rated 'CARE AAA (FD)' [Triple A] by CARE, which represents instruments considered to be "of the best quality, carrying negligible investment risk". CARE has also rated the bank's Certificate of Deposit (CD) programme "PR 1+" which represents "superior capacity for repayment of short term promissory obligations". Fitch Ratings India Pvt. Ltd. (100% subsidiary of Fitch Inc.) has assigned the "tAAA ( ind )" rating to the Bank's deposit programme, with the outlook on the rating as "stable". This rating indicates "highest credit quality" where "protection factors are very high".The Bank also has its long term unsecured, subordinated (Tier II) Bonds rated by CARE and Fitch Ratings India Private Limited and its Tier I perpetual Bonds and Upper Tier II Bonds rated by CARE and CRISIL Ltd. CARE has assigned the rating of "CARE AAA" for the subordinated Tier II Bonds while Fitch Ratings India Pvt. Ltd. has assigned the rating "AAA (ind)" with the outlook on the rating as "stable". CARE has also assigned "CARE AAA [Triple A]" for the Banks Perpetual bond and Upper Tier II bond issues. CRISIL has assigned the rating "AAA / Stable" for the Bank's Perpetual Debt programme and Upper Tier II Bond issue. In each of the cases referred to above, the ratings awarded were the highest assigned by the rating agency for those instruments.
Corporate Governance RatingThe bank was one of the first four companies, which subjected itself to a Corporate Governance and Value Creation (GVC) rating by the rating agency, The Credit Rating Information Services of India Limited (CRISIL). The rating provides an independent assessment of an entity's current performance and an expectation on its "balanced value creation and corporate governance practices" in future. The bank has been assigned a 'CRISIL GVC Level 1' rating which indicates that the bank's capability with respect to wealth creation for all its stakeholders while adopting sound corporate governance practices is the highest
.
Awards
HDFC Bank began operations in 1995 with a simple mission: to be a "World-class Indian Bank". We realised that only a single-minded focus on product quality and service excellence would help us get there. Today, we are proud to say that we are well on our way towards that goal.
It is extremely gratifying that our efforts towards providing customer convenience have been appreciated both nationally and internationally.
2007
The Asian Banker Excellence in Retail Financial Services Awards
Best Retail Bank in India
Asian Banker
Our Managing Director Aditya Puri wins the Leadership Achievement Award for India
2006
Business Today
Best Bank in India.
Forbes Magazine
One of Asia Pacific's Best 50 companies.
Businessworld
Best listed Bank of India.
The Asset Magazine's Triple A Country Awards
Best Domestic Bank.
Asiamoney Awards
Best Local Cash Management Bank in Large and Medium segments.
Euromoney Awards
"Best Bank" in India.
HDFC BANK LTD. - FINANCIAL RESULTS (INDIAN GAAP) FOR
THE QUARTER & HALF-YEAR ENDED SEPTEMBER 30, 2007
The Board of Directors of HDFC Bank Limited approved the bank’s accounts for
the quarter and half- year ended September 30, 2007 at its meeting held on Friday,
October 12, 2007. The accounts have been subjected to limited review by the
bank’s statutory auditors.
FINANCIAL RESULTS
Quarter ended September 30, 2007
The total income of the bank for the quarter ended September 30, 2007 grew by
44.0% over the corresponding quarter ended September 30, 2006 to Rs.2,845.1
crores. Net revenues (net interest income plus other income) for the quarter ended
September 30, 2007 were Rs.1,645.1 crores, an increase of 38.7% over Rs.1,185.7
crores for the corresponding quarter of the previous year. Interest earned (net of
loan origination costs and amortization of premia on investments held in the Held
to Maturity (HTM) category) increased from Rs.1,578.0 crores for the quarter
ended September 30, 2006 to Rs.2,362.8 crores for the quarter ended September
30, 2007. Net interest income (interest earned less interest expended) for the
quarter ended September 30, 2007 increased by Rs.374.7 crores to Rs.1,162.7
crores, up by 47.6%. This was driven by an average asset growth of 39.4% and a
core net interest margin (NIM) of 4.0% as against 3.8% for the quarter ended
September 30, 2006 (NIMs adjusted for the HTM premia amortization).
Other income (non-interest revenue) for the quarter ended September 30, 2007
was Rs.482.4 crores, as against Rs.397.7 crores for the corresponding quarter of
the previous year. Its principal component was fees and commissions contributing
Rs.391.9 crores for the quarter ended September 30, 2007, a growth of 24.8% over
the corresponding quarter of the previous year. The other two components of other
income were foreign exchange/derivatives revenues of Rs.38.7 crores and profit
on sale/revaluation of investments of Rs.46.2 crores for the quarter ended
September 30, 2007 as against Rs.58.2 crores and Rs.20.6 crores respectively, for
the quarter ended September 30, 2006. Operating (non-interest) expenses for the
quarter increased by Rs.239.3 crores to Rs.818.4 crores and were 49.7 % of net
revenues. Provisions and contingencies for the quarter were Rs.289.4 crores
(against Rs.248.1 crores for the corresponding quarter ended September 30, 2006),
principally comprising of specific and general loan loss provisions of Rs.273.2
crores. After providing Rs.168.8 crores for taxation, the bank earned a Net Profit
of Rs.368.5 crores, an increase of 40.1% over the quarter ended September 30,
2006.
Total balance sheet size increased by 44.1% from Rs.84,363 crores as of
September 30, 2006 to Rs.1,21,545 crores as of September 30, 2007. Total
deposits were Rs.91,069 crores, an increase of 43.5% from September 30, 2006.
With savings account deposits of Rs.22,373 crores and current account deposits at
Rs.25,456 crores, the CASA mix was healthy at 52.5% of total deposits as at
September 30, 2007. Deposits as of September 30, 2007, included around Rs.3000
crores of collections held in current accounts as a banker to various initial public
offerings. The Bank’s total customer assets (including advances, corporate
debentures, investments in securitised paper, etc) increased to Rs.65,812 crores as
of September 30, 2007, from Rs.49,326 crores as of September 30, 2006, a growth
of 33.4%. Retail loans grew 37.1% on a year-on-year basis to Rs.34,568 crores,
and now form 55.1% of gross advances.
Half-Year ended September 30, 2007:
For the half-year ended September 30, 2007, the Bank earned total income of
Rs.5,486.8 crores as against Rs.3,771.0 crores in the corresponding period of the
previous year. Net revenues (net interest income plus other income) for the six
months ended September 30, 2007 were Rs.3,203.1 crores, up by 39.6% over
Rs.2,294.2 crores for the six months ended September 30, 2006. Net Profit for the
half-year ended September 30, 2007 was Rs.689.7 crores, up by 37.3%, over the
corresponding six months ended September 30, 2006.
BUSINESS UPDATE:
The bank’s business momentum remained healthy in both its retail and wholesale
customer franchises. The distribution network was well spread with 754 branch
outlets and 1800 ATMs in 327 cities. Portfolio quality as of September 30, 2007
remained healthy with net non-performing assets at 0.4% of total customer assets.
During the quarter ended September 30, 2007, the Bank made a public offering in
July 2007 of 6,594,504 American Depositary Shares (ADS), each ADS
representing three equity shares, at a price of $ 92.10 per ADS. The net proceeds
of the ADS issue were Rs. 2,393.9 crores. As a result, Capital Adequacy Ratio
(CAR) as of September 30, 2007 was 14.9% against the regulatory minimum of
9%. Tier I CAR was at 11.3%.
Profile
The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalisation of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.
Promoters
HDFC is India's premier housing finance company and enjoys an impeccable track record in India as well as in international markets. Since its inception in 1977, the Corporation has maintained a consistent and healthy growth in its operations to remain the market leader in mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. With its experience in the financial markets, a strong market reputation, large shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment.
Business Focus
HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build sound customer franchises across distinct businesses so as to be the preferred provider of banking services for target retail and wholesale customer segments, and to achieve healthy growth in profitability, consistent with the bank's risk appetite. The bank is committed to maintain the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank's business philosophy is based on four core values - Operational Excellence, Customer Focus, Product Leadership and People.
Capital Structure
The authorised capital of HDFC Bank is Rs.450 crore (Rs.4.5 billion). The paid-up capital is Rs.311.9 crore (Rs.3.1 billion). The HDFC Group holds 22.1% of the bank's equity and about 19.4% of the equity is held by the ADS Depository (in respect of the bank's American Depository Shares (ADS) Issue). Roughly 31.3% of the equity is held by Foreign Institutional Investors (FIIs) and the bank has about 190,000 shareholders. The shares are listed on the The Stock Exchange, Mumbai and the National Stock Exchange. The bank's American Depository Shares are listed on the New York Stock Exchange (NYSE) under the symbol "HDB
Times Bank Amalgamation
In a milestone transaction in the Indian banking industry, Times Bank Limited (another new private sector bank promoted by Bennett, Coleman & Co./Times Group) was merged with HDFC Bank Ltd., effective February 26, 2000. As per the scheme of amalgamation approved by the shareholders of both banks and the Reserve Bank of India, shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank. The acquisition added significant value to HDFC Bank in terms of increased branch network, expanded geographic reach, enhanced customer base, skilled manpower and the opportunity to cross-sell and leverage alternative delivery channels.
Distribution Network
HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of over
Branches()
535 branches spread over
City()
228 cities across India. All branches are linked on an online real-time basis. Customers in over 120 locations are also serviced through Telephone Banking. The Bank's expansion plans take into account the need to have a presence in all major industrial and commercial centres where its corporate customers are located as well as the need to build a strong retail customer base for both deposits and loan products. Being a clearing/settlement bank to various leading stock exchanges, the Bank has branches in the centres where the NSE/BSE have a strong and active member base. The Bank also has a network of about over
atms()
1200 networked ATMs across these cities. Moreover, HDFC Bank's ATM network can be accessed by all domestic and international Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and American Express Credit/Charge cardholders.
Management
Mr. Jagdish Capoor took over as the bank's Chairman in July 2001. Prior to this, Mr. Capoor was a Deputy Governor of the Reserve Bank of India.The Managing Director, Mr. Aditya Puri, has been a professional banker for over 25 years, and before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia.The Bank's Board of Directors is composed of eminent individuals with a wealth of experience in public policy, administration, industry and commercial banking. Senior executives representing HDFC are also on the Board. Senior banking professionals with substantial experience in India and abroad head various businesses and functions and report to the Managing Director. Given the professional expertise of the management team and the overall focus on recruiting and retaining the best talent in the industry, the bank believes that its people are a significant competitive strength.
Technology
HDFC Bank operates in a highly automated environment in terms of information technology and communication systems. All the bank's branches have online connectivity, which enables the bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also provided to retail customers through the branch network and Automated Teller Machines (ATMs). The Bank has made substantial efforts and investments in acquiring the best technology available internationally, to build the infrastructure for a world class bank. In terms of software, the Corporate Banking business is supported by Flexcube, while the Retail Banking business by Finware, both from i-flex Solutions Ltd. The systems are open, scaleable and web-enabled. The Bank has prioritised its engagement in technology and the internet as one of its key goals and has already made significant progress in web-enabling its core businesses. In each of its businesses, the Bank has succeeded in leveraging its market position, expertise and technology to create a competitive advantage and build market share.
HDFC Bank offers a wide range of commercial and transactional banking services and treasury products to wholesale and retail customers. The bank has three key business segments:
Wholesale Banking ServicesThe Bank's target market ranges from large, blue-chip manufacturing companies in the Indian corporate to small & mid-sized corporates and agri-based businesses. For these customers, the Bank provides a wide range of commercial and transactional banking services, including working capital finance, trade services, transactional services, cash management, etc. The bank is also a leading provider of structured solutions, which combine cash management services with vendor and distributor finance for facilitating superior supply chain management for its corporate customers. Based on its superior product delivery / service levels and strong customer orientation, the Bank has made significant inroads into the banking consortia of a number of leading Indian corporates including multinationals, companies from the domestic business houses and prime public sector companies. It is recognised as a leading provider of cash management and transactional banking solutions to corporate customers, mutual funds, stock exchange members and banks.
Retail Banking Services The objective of the Retail Bank is to provide its target market customers a full range of financial products and banking services, giving the customer a one-stop window for all his/her banking requirements. The products are backed by world-class service and delivered to the customers through the growing branch network, as well as through alternative delivery channels like ATMs, Phone Banking, NetBanking and Mobile Banking.The HDFC Bank Preferred program for high net worth individuals, the HDFC Bank Plus and the Investment Advisory Services programs have been designed keeping in mind needs of customers who seek distinct financial solutions, information and advice on various investment avenues. The Bank also has a wide array of retail loan products including Auto Loans, Loans against marketable securities, Personal Loans and Loans for Two-wheelers. It is also a leading provider of Depository Participant (DP) services for retail customers, providing customers the facility to hold their investments in electronic form.HDFC Bank was the first bank in India to launch an International Debit Card in association with VISA (VISA Electron) and issues the Mastercard Maestro debit card as well. The Bank launched its credit card business in late 2001. By September 30, 2005, the bank had a total card base (debit and credit cards) of 5.2 million cards. The Bank is also one of the leading players in the "merchant acquiring" business with over 50,000 Point-of-sale (POS) terminals for debit / credit cards acceptance at merchant establishments.
TreasuryWithin this business, the bank has three main product areas - Foreign Exchange and Derivatives, Local Currency Money Market & Debt Securities, and Equities. With the liberalisation of the financial markets in India, corporates need more sophisticated risk management information, advice and product structures. These and fine pricing on various treasury products are provided through the bank's Treasury team. To comply with statutory reserve requirements, the bank is required to hold 25% of its deposits in government securities. The Treasury business is responsible for managing the returns and market risk on this investment portfolio.
Businesses
Rating
Credit Rating The Bank has its deposit programs rated by two rating agencies - Credit Analysis & Research Limited (CARE) and Fitch Ratings India Private Limited. The Bank's Fixed Deposit programme has been rated 'CARE AAA (FD)' [Triple A] by CARE, which represents instruments considered to be "of the best quality, carrying negligible investment risk". CARE has also rated the bank's Certificate of Deposit (CD) programme "PR 1+" which represents "superior capacity for repayment of short term promissory obligations". Fitch Ratings India Pvt. Ltd. (100% subsidiary of Fitch Inc.) has assigned the "tAAA ( ind )" rating to the Bank's deposit programme, with the outlook on the rating as "stable". This rating indicates "highest credit quality" where "protection factors are very high".The Bank also has its long term unsecured, subordinated (Tier II) Bonds rated by CARE and Fitch Ratings India Private Limited and its Tier I perpetual Bonds and Upper Tier II Bonds rated by CARE and CRISIL Ltd. CARE has assigned the rating of "CARE AAA" for the subordinated Tier II Bonds while Fitch Ratings India Pvt. Ltd. has assigned the rating "AAA (ind)" with the outlook on the rating as "stable". CARE has also assigned "CARE AAA [Triple A]" for the Banks Perpetual bond and Upper Tier II bond issues. CRISIL has assigned the rating "AAA / Stable" for the Bank's Perpetual Debt programme and Upper Tier II Bond issue. In each of the cases referred to above, the ratings awarded were the highest assigned by the rating agency for those instruments.
Corporate Governance RatingThe bank was one of the first four companies, which subjected itself to a Corporate Governance and Value Creation (GVC) rating by the rating agency, The Credit Rating Information Services of India Limited (CRISIL). The rating provides an independent assessment of an entity's current performance and an expectation on its "balanced value creation and corporate governance practices" in future. The bank has been assigned a 'CRISIL GVC Level 1' rating which indicates that the bank's capability with respect to wealth creation for all its stakeholders while adopting sound corporate governance practices is the highest
.
Awards
HDFC Bank began operations in 1995 with a simple mission: to be a "World-class Indian Bank". We realised that only a single-minded focus on product quality and service excellence would help us get there. Today, we are proud to say that we are well on our way towards that goal.
It is extremely gratifying that our efforts towards providing customer convenience have been appreciated both nationally and internationally.
2007
The Asian Banker Excellence in Retail Financial Services Awards
Best Retail Bank in India
Asian Banker
Our Managing Director Aditya Puri wins the Leadership Achievement Award for India
2006
Business Today
Best Bank in India.
Forbes Magazine
One of Asia Pacific's Best 50 companies.
Businessworld
Best listed Bank of India.
The Asset Magazine's Triple A Country Awards
Best Domestic Bank.
Asiamoney Awards
Best Local Cash Management Bank in Large and Medium segments.
Euromoney Awards
"Best Bank" in India.
HDFC BANK LTD. - FINANCIAL RESULTS (INDIAN GAAP) FOR
THE QUARTER & HALF-YEAR ENDED SEPTEMBER 30, 2007
The Board of Directors of HDFC Bank Limited approved the bank’s accounts for
the quarter and half- year ended September 30, 2007 at its meeting held on Friday,
October 12, 2007. The accounts have been subjected to limited review by the
bank’s statutory auditors.
FINANCIAL RESULTS
Quarter ended September 30, 2007
The total income of the bank for the quarter ended September 30, 2007 grew by
44.0% over the corresponding quarter ended September 30, 2006 to Rs.2,845.1
crores. Net revenues (net interest income plus other income) for the quarter ended
September 30, 2007 were Rs.1,645.1 crores, an increase of 38.7% over Rs.1,185.7
crores for the corresponding quarter of the previous year. Interest earned (net of
loan origination costs and amortization of premia on investments held in the Held
to Maturity (HTM) category) increased from Rs.1,578.0 crores for the quarter
ended September 30, 2006 to Rs.2,362.8 crores for the quarter ended September
30, 2007. Net interest income (interest earned less interest expended) for the
quarter ended September 30, 2007 increased by Rs.374.7 crores to Rs.1,162.7
crores, up by 47.6%. This was driven by an average asset growth of 39.4% and a
core net interest margin (NIM) of 4.0% as against 3.8% for the quarter ended
September 30, 2006 (NIMs adjusted for the HTM premia amortization).
Other income (non-interest revenue) for the quarter ended September 30, 2007
was Rs.482.4 crores, as against Rs.397.7 crores for the corresponding quarter of
the previous year. Its principal component was fees and commissions contributing
Rs.391.9 crores for the quarter ended September 30, 2007, a growth of 24.8% over
the corresponding quarter of the previous year. The other two components of other
income were foreign exchange/derivatives revenues of Rs.38.7 crores and profit
on sale/revaluation of investments of Rs.46.2 crores for the quarter ended
September 30, 2007 as against Rs.58.2 crores and Rs.20.6 crores respectively, for
the quarter ended September 30, 2006. Operating (non-interest) expenses for the
quarter increased by Rs.239.3 crores to Rs.818.4 crores and were 49.7 % of net
revenues. Provisions and contingencies for the quarter were Rs.289.4 crores
(against Rs.248.1 crores for the corresponding quarter ended September 30, 2006),
principally comprising of specific and general loan loss provisions of Rs.273.2
crores. After providing Rs.168.8 crores for taxation, the bank earned a Net Profit
of Rs.368.5 crores, an increase of 40.1% over the quarter ended September 30,
2006.
Total balance sheet size increased by 44.1% from Rs.84,363 crores as of
September 30, 2006 to Rs.1,21,545 crores as of September 30, 2007. Total
deposits were Rs.91,069 crores, an increase of 43.5% from September 30, 2006.
With savings account deposits of Rs.22,373 crores and current account deposits at
Rs.25,456 crores, the CASA mix was healthy at 52.5% of total deposits as at
September 30, 2007. Deposits as of September 30, 2007, included around Rs.3000
crores of collections held in current accounts as a banker to various initial public
offerings. The Bank’s total customer assets (including advances, corporate
debentures, investments in securitised paper, etc) increased to Rs.65,812 crores as
of September 30, 2007, from Rs.49,326 crores as of September 30, 2006, a growth
of 33.4%. Retail loans grew 37.1% on a year-on-year basis to Rs.34,568 crores,
and now form 55.1% of gross advances.
Half-Year ended September 30, 2007:
For the half-year ended September 30, 2007, the Bank earned total income of
Rs.5,486.8 crores as against Rs.3,771.0 crores in the corresponding period of the
previous year. Net revenues (net interest income plus other income) for the six
months ended September 30, 2007 were Rs.3,203.1 crores, up by 39.6% over
Rs.2,294.2 crores for the six months ended September 30, 2006. Net Profit for the
half-year ended September 30, 2007 was Rs.689.7 crores, up by 37.3%, over the
corresponding six months ended September 30, 2006.
BUSINESS UPDATE:
The bank’s business momentum remained healthy in both its retail and wholesale
customer franchises. The distribution network was well spread with 754 branch
outlets and 1800 ATMs in 327 cities. Portfolio quality as of September 30, 2007
remained healthy with net non-performing assets at 0.4% of total customer assets.
During the quarter ended September 30, 2007, the Bank made a public offering in
July 2007 of 6,594,504 American Depositary Shares (ADS), each ADS
representing three equity shares, at a price of $ 92.10 per ADS. The net proceeds
of the ADS issue were Rs. 2,393.9 crores. As a result, Capital Adequacy Ratio
(CAR) as of September 30, 2007 was 14.9% against the regulatory minimum of
9%. Tier I CAR was at 11.3%.
Investing In Mutual Funds
Investing in mutual funds? Read this!
Are you the one who doesn't understand much of finance? Do numerous MFs as well as other investment options baffle you? What are the best funds available? Which funds accrue maximum profits? In an hour-long chat on rediff.com on Thursday,?Rahul Goel, CEO, Personalfn.com, and financial planning expert, answered many such queries.
Here is the transcript:
Rahul Goel says,?Good afternoon everyone!
amittendulkar asked,?hi if you provide advise on tax and financial planning ... can u advice , income is 14 lacs.have taken rebate of housing loan interest 150000 and 10000 on of .. can I manage tax better .. tax outflow is 20000 per month after all this tax saving investmentsRahul Goel answers,? amit, hi. it is best you post this question to a professional tax consultant.
samar asked,?What are the best mutual funds available in the market? Which funds accrue maximum profits? Which funds provide the best SIP options Rahul Goel answers,?samar, hi. that would depend on what your needs and profile are. a scheme which may be the "best" for me, may not be good for you. we spend a lot of time educating people in this regard. do not invest in what is best; invest in what is best suited to you.
Vikas asked? Hi, I have holding following mutual funds (SIP). Please suggest whether my portfolio is good or not? Also, please let me know your view, whether I should reorganize my portfolio? - HDFC Tax Saver : Rs .1000/- p.m. - HDFC Equity : Rs. 2000/- p.m. - Reliance Growth: Rs. 3000/- p.m. - Reliance Vision: Rs. 2000/- p.m. - Reliance Power : Rs. 2000/- p.m. - SBI Magnum Contra: Rs. 3000/- p.m. - SBI Magnum Tax Gain : Rs. 1000/- p.m. - DSPML TIGER : Rs. 2000 p.m. - ICICI Prudential Service Industries : Rs. 2000 p.m. I would like to continue with SIP in these funds for next 3 years and would like to withdraw money from all my investments after 15-20 years. Also, my monthly take home salary is Rs. 52000/- Is this much investment enough for my retirement and childs education? Can you suggest me how better I can organize my portfolio? Regards Vikas Rahul Goel answers,?vikas, hi. a couple of points to note. One, you have excessive exposure to sector funds. in our view, one should not invest in such funds at all. the other point to note is that you do not have any investment in franklin schemes. a fund like franklin flexi should definitely form a part in a equity fund portfolio. Finally, you need to get the allocation between different schemes right. Now coming to the planning needs; whether this is sufficient or not will depend on the number of years to retirement or to your child going to college. Start investing for these needs as early as you can; the more you delay, the more challenging it will become.
aayush asked? Dear Sir, I invest in Standard Chartered Enterprises fund and UTI Life Style Fund, pls. tell me what is the future of two funds and i want to invest in SIP, which is best fund for SIP purpose. Rahul Goel answers,? aayush, hi. if you were a client of personal we would have ensured that you do not invest in these funds in the first place! Having said that, we do not think either of these schemes should form a part of your core equity fund portfolio.
tanu asked,?hi there whether ulip's are good or term plan plus mutual funds Rahul Goel answers,?tanu, hi. In nearly all instances, you will find term + mutual funds to score better. There are rare instances where ulip may make more sense. I recently got a call from a insurer trying to sell me a ulip saying that it was a mutual fund!! so you know what is better!
michael asked,? Hello Rahul. If equity investment is for the long term then why some advisors still say that there is no need to switch from dividend reinvestment option to growth? What is the correct advice? Please clarify. Rahul Goel answers? michael, hi. This is what I think. If you do not have need for money in the near term, simply let the money accumulate i.e. go for the growth option.
Mahen asked,?Hi Rahul, I have around 1 lakh to invest and I need half of it in the next 6 months and rest of the money in 11 months. What do you suggest, where should I invest? Rahul Goel answers? mahen, hi. the best option for you probably is the fixed maturity plan. These are negligible risk instruments. Take the plans which suit your liquidity needs. In case you are in the lowest income tax bracket, or pay no tax at all, also consider fixed deposits.
debraj asked,? Hi Rahul what is the maximum amount u can invest? 1 lakh or 1.1 lakh?Rahul Goel answers,?debraj, hi. i think you are referring to investments under section 80C. that would be rs 100,000 per year. there are other provisions which may entitle you to invest some more money to save tax; but that is not under Section 80C.
rahuls asked,? I have invested in mostly equity. 34% in ELSS and remaining in secondary market. in stocks, my portfolio has 4.4% Power Generation(RNRL), 7.8% Petrochemical (Rel Petro), 30.4% telecom (rel. comm), 5.1% air transport(jet, deccan), 14% Bank PSU(SBI) and 38% Construction (GMR Infra, Omaxe, DLF; in the reducing percentage share in this category). Please comment. Is this right portfolio for medium to long term...?? I am also planning to buy slowly (on declines) some more share in aviation and hotels as I see aviation and hotels bright in long term. What do you say ?? Rahul Goel answers? rahul, hi. i am unable to comment on individual stocks. But since you are managing money on your own, I trust you have several hours a day that you can dedicate to this activity.
sanoj asked,? Hi Sir, I want to invest Rs.100000 for 6 years with the dividends reinvested. Which will be the best mutual fund option to get maximum returns at the end of 7th year and how much will I get approx.? I prefer a aggressive fund Rahul Goel answers,?sanoj, hi. first if you wish to invest for 7 yrs, and do not have need for near term cash flows, then best to opt for the growth option. Now coming to returns. I think it is reasonable to expect a return of no more than 15% pa over this period from a well managed equity fund. Even though you wish to be aggressive, opt only for the well diversified equity funds; give a miss to the sector funds.
moyanka asked,? hi if we are investing in mutual fund so in which scheme we get tax rebate and heigh return also Rahul Goel answers,? moyanka, hi. some funds, which are called equity linked savings schemes (ELSS) offer you some tax benefits. These have a lock in for three years and invest in the stock markets. Over 3-5 years such funds, if you select the right one of course, should be able to deliver you about 15% pa returns.
Harsh asked? We are working couple 37 and 34 years old with 02 kids 6 and 3 years and stay in our ancestral house in Delhi and wish to buy a plot in BPTP, Faridabad which will cost 30 lacs of which I can make down payment of 12 lacs and balance 18 lacs on loan for 15 years. I seek your advise I should go for this option or should I invest 18000/- per month (which is almost equivalent to the EMI of plot) in mutual funds / SIP etc. The main aim is to build capital at the same time if can own a piece of land would be great. We earn approx 8 lacs per annum and our annual liability is approx 3.5 lacs. Also how do see the growth of property in Faridabad in comparison grown in fundsRahul Goel answers? Harsh, hi. Without commenting on the property price in faridabad specifically, we are overall bearish on property. You will need to study the local market to get a final view. With regards to whether you should buy property or invest in funds.... over the long term it is most likely that equities will outperform real estate when it comes to generating return. The other advantage is that when you buy the property you are exposed to just one market - faridabad. You cannot diversify in property and then there are a lot of maintenance related issues. If you are looking for a better return, and less of a headache, maybe mutual funds will be better. But before you take a final decision discuss this in more detail with your financial planner.
rahul asked,'I want to invest in mutual funds. But I m pretty skeptical abt dng it. So can u advice? Which is the best mutual fund which can give me maximum profits at the end of year? What are my long term benefits that i can reap? Rahul Goel answers: Rahul, hi. I recommend that rather than investing in funds just because i am telling you that so and so scheme is good or not, i suggest you find yourself an honest financial planner and understand this investment opportunity in detail. Arun asked,' Which is a good opportunities fund to invest in. I have investments in HDFC Prudence, FT Prima, Reliance Vision, HDFC Top 200 and Mangum Taxgain, and feel investing in an opportunities fund will add some fizz to my portfolio.' Rahul Goel answers :arun, hi. well, if you wish to invest to get some fizz in your portfolio, its entirely your call! On a lighter note, don't forget the fizz runs out as fast as it starts! Ganpath asked,Sir, I am aged 40 years and having 2 children. Can save upto 50,000 per annum. Can I go for HDFC children Care and Pension Plan. Rahul Goel answers?Ganpath, hi. you are considering investing in a ulip; there is nothing wrong with that. Have you understood the cost structure completely? Be sure before you commit monies to a ulip.
Rahul asked,? I want to invest in mutual funds. But I m pretty skeptical abt dng it. So can u advice? Which is the best mutual fund which can give me maximum profits at the end of year? What are my long term benefits that i can reap? Rahul Goel answers? rahul, hi. I recommend that rather than investing in funds just because i am telling you that so and so scheme is good or not, i suggest you find yourself an honest financial planner and understand this investment opportunity in detail.
arun asked,? Which is a good opportunities fund to invest in. I have investments in HDFC Prudence, FT Prima, Reliance Vision, HDFC Top 200 and Mangum Taxgain, and feel investing in an opportunities fund will add some fizz to my portfolio. Rahul Goel answers? arun, hi. well, if you wish to invest to get some fizz in your portfolio, its entirely your call! On a lighter note, don't forget the fizz runs out as fast as it starts!
ganpath asked,? Sir, I am aged 40 years and having 2 children. Can save upto 50,000 per annum. Can I go for HDFC children Care and Pension Plan. Rahul Goel answers? ganpath, hi. you are considering investing in a ulip; there is nothing wrong with that. Have you understood the cost structure completely? Be sure before you commit monies to a ulip.
sutsi asked,? should i sell sbi blue chip?? Rahul Goel answers,? well, to start with we had not recommended this scheme to our clients. We recently posted some research on this scheme on personalfn.com . the performance definitely leaves a lot to be desired.
fgdfgd asked,? is investing in tax saving FD's advisable? Rahul Goel answers? This would depend why you are investing and also your overall profile. If you can take risk and need to grow your money, then FDs are not the right choice for you.
sa asked,? Do you think this is the best time to invest in mutual funds? Rahul Goel answers,?sa, hi. anytime is a good time to invest. But where you invest is most important in our view.
sharat asked,? I am Investing Rs.50000.00 every year in Tax saver Fund since three years to get Tax Benefit. This I am planning to continue for another Three years. Is it OK or shall I go for other tax benefit schemes? Rahul Goel answers,? sharat, hi. have atleast two schemes in your tax saving portfolio.
ajit asked,?Hi rahul,i have 24k to invest for tax planning. I have already invested in LIC and ELSS. So as per you where should i put this 24k,PPF or Pension Fund like Frankin pension fund? Pls advice. Rahul Goel answers,?ajit, hi. May be you need to put the Rs 24k exactly where you put the rest of the money! You do not have to invest in new instruments. The precise answer of course will depend on your profile and needs.
sanjieev asked,? Good afternoon arun..I am a M28, with CTC of 7L and with no liabilities for next 2 years...would it be good to invest 80% in equity(30% direct stocks+50%MF)with a time horizon of 5+ years..?? Rahul Goel answers? Yes, for such a long tenure, a predominantly equity portfolio will suit best. Since you plan to invest directly in stocks, be sure you have enough time to manage your portfolio.
JAGADEESH asked? What should be the performance of NFOs of AMB Amro China Fund, ICICI Asia Fund etc? Will they similar to other NFOs or give any special advantage to us? Rahul Goel answers? jagadeesh, hi. as has been personalfn's view with all the global funds launched so far, we are not going to be telling our clients to inevst in such funds. We recently wrote a note on why are not liking anything out there in this space. You may want to read it on http://www.personalfn.com/.
Anamika asked? Gud Afternoon Rahul, I have about 20 K of gift money lying with me which I wish to invest for the kids for use 5 years later. I want to distribute it in 5K each. Which MFs' should I consider? Which is the best SIP for Rs 2000 for 3 years? Rahul Goel answers? anamika, hi. well, i think you should consider schemes like hdfc equity and fr flexicap. Avoid sector and thematic funds. Keep the portfolio simple. Best would be to employ the services of a finanical planner... that will rid you a lot of the worries.
SEEMA asked? HELLO SIR, I am seema , i recently got married ,both of us working in a pvt ltd company,wish to buy a plot or flat in perambur near chennai city which costs 15 lacs ,i wish to buy only after 4 years. keeping in mind about the inflation rate and the increasing real estates values i can afford to make the down payment for only 5 lacs and for the bal i can go for the loan where i can pay an emi for 9000.The main aim is to own a piece of plot .My monthly expenses are 5000.our salary comes to 20000.how to plan our salary to make our dream comes true with this little salary. Kindly advise me. Regrds SEEMARahul Goel answers? seema, the answer is simple... save as much as you can; invest the monies in well managed mutual funds; since your tenure is about 4 yrs, you can opt for equity funds. Over time, disciplined investing will help you reach there.
Ravi asked,? Hi Rahul, We (DINK couple) make annum but not able to decide on owning home. Shall we live in a rented apartment or buy one?Rahul Goel answers,? ravi, hi. well, ultimately you may want to own one property; but then this may not be the best time to buy one! Where are you investing the monies currently? Is the allocation done thoughtfully or are you just investing where some friend tells you to?!!
abcxyz asked,? Is it advisable to invest in ELSS funds even if I do not require Tax saving instrument. Peformance of ELSS is similar to other equity funds. Rahul Goel answers,? May be yes. Since these funds have a lock in, the fund manager has more flexibility in planning his investments. Having said that I would prefer an open ended fund so that in case there is an emergency the money can still be taken out.
SARMA asked? Why there is no uniformity in ULIPs unlike in MF and can IRDA learn something from SEBI in cracking whip on life insurance companies who are notoriously wrong-selling Rahul Goel answers,? sarma, hi. I think all of us share the concern of mis-selling. lets hope the regulator does something about this. But this does not take away the fact that since we are investing our money, we need to take well informed decision. This requires study and/or an honest financial planner.
SP asked? Hi Rahul, Please suggest a good pension scheme for my husband (aged 33). The only insurance investment he has is in Jeevan Shree taken abt 6 yrs back. We pay 18K per mth as EMI for housing loan. Other investments such as PPF and SIP come to 10K per mth. Pls suggest some good scheme for retirement planning. Rahul Goel answers,?hi. Since you have maybe about 25 - 30 yrs to retire, one option you have is to build a corpus by investing in equity funds and then later shifting the money to instruments which can generate monthly income. This will require some discussions with your financial planner. Before you commit monies, be sure of what you are getting into.
Sangeeta asked,? Hi Rahul, I've an outstanding housing loan of 35 lacs for which I'm paying 36000 emi. Do you think it's a good idea to preclose the loan? If I don't at the end of 20th yr, I'll be paying out almost 85lacs towards it. Please suggest Rahul Goel answers? sangeeta, hi. as we have discussed several times in this chat, whether you wish to prepay depends largely on you. If you are not comfortable with having a liability on your books, simply pay it back. Else keep it, and invest your surplus in assets which will hopefully earn more than the interest on the loan.
Jeevan asked? DO ELSS FUNDS QUALIFY FOR TAX DEDUCTION UNDER SECTION 80C? For eg: Principal Personal Tax Saver Fund? Rahul Goel answers? jeevan, hi. Thy do qualify for this tax benefit.
Pravy asked,? I want to accumulate 50 Lakhs corpus after 5 years. Please advise what kind of investment i have to make in SIP. I have taken 500Rs/month sip for SBI TAx gain, 1000Rs/Month SIP for HDFC EQUITY & 1000rS/MONTH SIP FOR RELIANCE VISION FUND. Where else do you advise me to invest to have a corpus of 50 lacs after 5 years. Rahul Goel answers? pravy, hi. assuming you wish have a maturity value of rs 50 lacs in five years, you need to set aside about rs 60,000 per month in instruments which can return you about 15% pa. So invest keeping this in mind. Which is the best long-term investment option in Debt if I want to get regular income? MIP or Short-term Funds with Dividend Payout or SWP? Rahul Goel answers? \u003c/span\>jayesh, hi. if you can take some risk for the low risk mips, with a qtr div payout. but if you do not want to take any risk go in for fixed deposits. Ssaurav asked,? \u003c/span\>\u003cspan style\u003d\"font-size:9pt;font-family:Arial\"\>Hi Rahul, I live in Kualalumpur (indian citizen) and want to invest in Indian mutual funds , how do i do it sitting from here.
Pravy asked,? I want to accumulate 50 Lakhs corpus after 5 years. Please advise what kind of investment i have to make in SIP. I have taken 500Rs/month sip for SBI TAx gain, 1000Rs/Month SIP for HDFC EQUITY & 1000rS/MONTH SIP FOR RELIANCE VISION FUND. Where else do you advise me to invest to have a corpus of 50 lacs after 5 years. Rahul Goel answers? pravy, hi. assuming you wish have a maturity value of rs 50 lacs in five years, you need to set aside about rs 60,000 per month in instruments which can return you about 15% pa. So invest keeping this in mind.
Jayesh asked? Which is the best long-term investment option in Debt if I want to get regular income? MIP or Short-term Funds with Dividend Payout or SWP? Rahul Goel answers? jayesh, hi. if you can take some risk for the low risk mips, with a qtr div payout. but if you do not want to take any risk go in for fixed deposits.
saurav asked,? Hi Rahul, I live in Kualalumpur (indian citizen) and want to invest in Indian mutual funds , how do i do it sitting from here Rahul Goel answers,? saurav, hi. the investing part is easy. First you should think about where you will invest!
Shankar asked,? Hi Rahul, thanks for your time. I have in portfolio HSBC Ad India (SIP), UTI Leadership (single), Reliance Equity (single), SBI Midcap (single), Fidelity equity (single), Franklit Prima (SIP), HDFC Long term advantage. 1) I am not sure if my distribuiton are adequately diversified 2) I would like to restrict my funds to a max of 5. Please suggest which ones should I continue with. Rahul Goel answers? shankar, hi. your portfolio in all probability needs change; quite a bit of it. For me to be able to guide you precisely, I will need to know more about you.
aayush asked,? Hi, thanks for yr. suggestion, no I am a client of personalfn, but, my second question is what is the best equity fund in SIP plan........ Rahul Goel answers,? oh! how i wish you were!! if you are looking at a long term plan, then consider having schemes like hdfc equity and fr flexi in your portfolio. Do not have more than 5/6 schemes; and of course, avoid nfos.
arunvs316 asked,? Hi rahul, Do you really think financial planning as a concept will be popular among indian masses? What do you think is the biggest challenge financial planners will face? Rahul Goel answers? Yes, it is a necessity. The challenge is the same for everyone - giving honest and credible advice, backed by great service.
Ana1 asked? What do u mean by FMP and which is the best one? Rahul Goel answers? FMPs are fixed maturity plans; these are effectively close ended debt funds.
jyoti p asked,? Is mutual fund the right product for retirement planning? if so, what should be mix of equity and debt for this purpose? Rahul Goel answers? jyoti, hi, suppose you are to retire 30 yrs from now; you need to accumulate money, right. The best place for such long term investments is the stock markets... so most of the money you save should go there. next should you invest directly or via funds? this would depend on how capacitated you are and how much time you have to manage your onn portfolio.
dalalnirav@rediffmail.com asked? Is it true that large cap funds should form the core of your portfolio? Can you suggest 2-3 good large cap funds.Rahul Goel answers? yes, in most instances. fr bluechip is a fund we like. but having said that, i would still prefer to be invested in a diversified equity fund.
Emsysprof asked,?I am 37 years old earning 10 Lakhs per annum now. How I should plan, if i wish to lead a happy retirement life after 55 years Rahul Goel answers,?well, to ensure you have a happy retirement life, employ the services of an honest finanical planner! frankly, its difficult to do this over email... on personalfn you will find a guide to retirement planning, which you may want to read.
Prasad asked? I brought DSPML technology.com @ 30.50 before 5 months, but it is declining since then, shall I hold? If yes for how much time?Rahul Goel answers? prasad, hi. in our view one should not invest in sector funds. They are inherently volatile and do not deliver the risk adjusted return they should over the long periods of time.
SEEMA asked,?susanne, hi sir, gud after noon to u, i want to build a corpus of 20 laks after 5 years , how much i hav to save per month to build this corpus i want this corpus to buy a plot .my sal is 15000 per month ,my expenses per month are my expection above than my income .Rahul Goel answers,?seema, hi. You need to invest about rs 23,000 pm in assets yielding about 15% pa return. since you do not have this surplus do not stop your plan. Continue investing; put in more money when you have more liquidity to make up for this shortfall. Navin asked,?Dear Rahul, Hope you will certainly help in my problem. I have invested in Standard Charter Equity enterprise fund. During IPO the fund claimed that they will invest in IPO of stocks, however I see they do not have any share of recent IPO's, there is lockin of 3 yrs. Please tell me whom should I approach for this breach of trust. Thanks. Rahul Goel answers,?navin, hi. you can write to us at target
SEEMA asked,?susanne, hi sir, gud after noon to u, i want to build a corpus of 20 laks after 5 years , how much i hav to save per month to build this corpus i want this corpus to buy a plot .my sal is 15000 per month ,my expenses per month are 8000.is my expection above than my income .Rahul Goel answers,?seema, hi. You need to invest about rs 23,000 pm in assets yielding about 15% pa return. since you do not have this surplus do not stop your plan. Continue investing; put in more money when you have more liquidity to make up for this shortfall.
navin asked,?Dear Rahul, Hope you will certainly help in my problem. I have invested in Standard Charter Equity enterprise fund. During IPO the fund claimed that they will invest in IPO of stocks, however I see they do not have any share of recent IPO's, there is lockin of 3 yrs. Please tell me whom should I approach for this breach of trust. Thanks. Rahul Goel answers,?navin, hi. you can write to us at info@personalfn.com and we will forward to sebi. or you could write to sebi directly. their web site is http://www.sebi.gov.in/
vijaysh asked,? Sir, i want to invest in Bank FD .can i get tax benefit u/s 80c Rahul Goel answers? not all fds give this benefit. Be sure to select the fd which offers this benefit; your banker will be able to guide you.
rajeshrao asked,? I would like to gift my son(1year old) on his birthday with an one time investment scheme, which would be helpfull in his future. Please advise me what are the schemes available, and your valuable suggestion on this. thanks in advance. Rahul Goel answers,? rajesh, hi. best would be to put the money in a basket of well managed and well diversified equity funds. i have discussed some names earlier. but get the allocation right... speak to your financial planner.
sudip asked,?I have 2 crore rupees to invest. Currently I have invested 75 Lakh in equity (MF and direct stocks), 10 Lakh in NIFTY linked debenture, 10 Lakh in Crayon Art Fund, 5 Lakh in US Savings, 1 Crore in FD for 1 year @ 11.75% interest. I am 35 years old and married with two small children and service is my occupation. Please suggest if I need to change my portfolio.Rahul Goel answers,?sudip, hi. with the surplus you have you will have your private banker on the phone all the time! no wonder you are invested in such exotic funds! In our view, these funds are best avoided... i am referring to the art fund and also the debenture. a large part of your money is in an FD. i am not sure why... i think you should aovoid investing ad hoc and talk to some financial planner.
Sutapa asked,?I have the plan to invest Rs. 50000 in mutual plan. Is it right time to invest in that? whether it is worthy to invest in one fund or a couple of fund. what re the fund to invest? Rahul Goel answers,?sutapa, hi. best way to invest is to do so regularly in small amounts; have a portfolio of about 5/6 schemes.
karthik asked,?Hi Rahul, My CTC is 4.2 L, and as if now i have not invested in any thing.. From last decmember I have started working and I want to investment for Tax gaining as well as future need.. Please suggest what steps I need to take from now on.. Rahul Goel answers,?karthik, hi. best step would be to find yourself an honest finanical planner. since you are liquid and are not sure what to do with your money, it will not be long before agents/disributors start throwing ideas at you...ideas which many money for them!
vilbee asked,?Hi Rahul I am 32 year old female and have 50 lakhs in savings and investments, and own my home (debtfree). I may quit working soon and assuming no further income flow, and annual expense requirement on 2 lakhs per year only, what should I do with my fund of 50 lakhs with a view to safely increase wealth Rahul Goel answers,?vilbee, hi. with the kind of surplus you have, you should have no difficulty in meeting montly needs and also ensuring that your capital grows. the obvious idea for investing this money is a small portion in mips, maybe some in fds (as you can avail the return tax free upto a limit) and the rest in riskier instruments.
AAAA asked,?Should one avoid sector funds via SIP? Rahul Goel answers,?one should avoid sector funds, whether you are investing via sip or lumpsum.
Ravi_Kiran asked,?Hi Rahul, Good Afternoon. What's your view of latest NFOs Fidelity Growth, ICICI Pru Indo Asia Fund...? Rahul Goel answers,?ravi, hi. we have recommended to our clients at personalfn to give a miss to both these funds.
amitpaithankar asked,?Hi Rahul, I have made some investment in whole life insurance policy. should i continue with this or choose another policy? Rahul Goel answers,?amit, hi. depending on the cost, you may want to continue it. i hope its a pure risk policy...
Ravi_Kiran asked,?At personalfn, the latest article about global funds is really good. As you suggested in the same, as of now do we have any global funds that invest not only in emerging (ex. asian) markets but also in all variety of economy...? Rahul Goel answers,?thanks ravi. no, as of now, we do not have any such gobal fund.
venkat asked,?what is your opinion on tata indo global infrastructure fund Rahul Goel answers,?venkat, hi. i think you should avoid investing in this fund as it carries very high risk... unless of course you have the appetite for it.
Are you the one who doesn't understand much of finance? Do numerous MFs as well as other investment options baffle you? What are the best funds available? Which funds accrue maximum profits? In an hour-long chat on rediff.com on Thursday,?Rahul Goel, CEO, Personalfn.com, and financial planning expert, answered many such queries.
Here is the transcript:
Rahul Goel says,?Good afternoon everyone!
amittendulkar asked,?hi if you provide advise on tax and financial planning ... can u advice , income is 14 lacs.have taken rebate of housing loan interest 150000 and 10000 on of .. can I manage tax better .. tax outflow is 20000 per month after all this tax saving investmentsRahul Goel answers,? amit, hi. it is best you post this question to a professional tax consultant.
samar asked,?What are the best mutual funds available in the market? Which funds accrue maximum profits? Which funds provide the best SIP options Rahul Goel answers,?samar, hi. that would depend on what your needs and profile are. a scheme which may be the "best" for me, may not be good for you. we spend a lot of time educating people in this regard. do not invest in what is best; invest in what is best suited to you.
Vikas asked? Hi, I have holding following mutual funds (SIP). Please suggest whether my portfolio is good or not? Also, please let me know your view, whether I should reorganize my portfolio? - HDFC Tax Saver : Rs .1000/- p.m. - HDFC Equity : Rs. 2000/- p.m. - Reliance Growth: Rs. 3000/- p.m. - Reliance Vision: Rs. 2000/- p.m. - Reliance Power : Rs. 2000/- p.m. - SBI Magnum Contra: Rs. 3000/- p.m. - SBI Magnum Tax Gain : Rs. 1000/- p.m. - DSPML TIGER : Rs. 2000 p.m. - ICICI Prudential Service Industries : Rs. 2000 p.m. I would like to continue with SIP in these funds for next 3 years and would like to withdraw money from all my investments after 15-20 years. Also, my monthly take home salary is Rs. 52000/- Is this much investment enough for my retirement and childs education? Can you suggest me how better I can organize my portfolio? Regards Vikas Rahul Goel answers,?vikas, hi. a couple of points to note. One, you have excessive exposure to sector funds. in our view, one should not invest in such funds at all. the other point to note is that you do not have any investment in franklin schemes. a fund like franklin flexi should definitely form a part in a equity fund portfolio. Finally, you need to get the allocation between different schemes right. Now coming to the planning needs; whether this is sufficient or not will depend on the number of years to retirement or to your child going to college. Start investing for these needs as early as you can; the more you delay, the more challenging it will become.
aayush asked? Dear Sir, I invest in Standard Chartered Enterprises fund and UTI Life Style Fund, pls. tell me what is the future of two funds and i want to invest in SIP, which is best fund for SIP purpose. Rahul Goel answers,? aayush, hi. if you were a client of personal we would have ensured that you do not invest in these funds in the first place! Having said that, we do not think either of these schemes should form a part of your core equity fund portfolio.
tanu asked,?hi there whether ulip's are good or term plan plus mutual funds Rahul Goel answers,?tanu, hi. In nearly all instances, you will find term + mutual funds to score better. There are rare instances where ulip may make more sense. I recently got a call from a insurer trying to sell me a ulip saying that it was a mutual fund!! so you know what is better!
michael asked,? Hello Rahul. If equity investment is for the long term then why some advisors still say that there is no need to switch from dividend reinvestment option to growth? What is the correct advice? Please clarify. Rahul Goel answers? michael, hi. This is what I think. If you do not have need for money in the near term, simply let the money accumulate i.e. go for the growth option.
Mahen asked,?Hi Rahul, I have around 1 lakh to invest and I need half of it in the next 6 months and rest of the money in 11 months. What do you suggest, where should I invest? Rahul Goel answers? mahen, hi. the best option for you probably is the fixed maturity plan. These are negligible risk instruments. Take the plans which suit your liquidity needs. In case you are in the lowest income tax bracket, or pay no tax at all, also consider fixed deposits.
debraj asked,? Hi Rahul what is the maximum amount u can invest? 1 lakh or 1.1 lakh?Rahul Goel answers,?debraj, hi. i think you are referring to investments under section 80C. that would be rs 100,000 per year. there are other provisions which may entitle you to invest some more money to save tax; but that is not under Section 80C.
rahuls asked,? I have invested in mostly equity. 34% in ELSS and remaining in secondary market. in stocks, my portfolio has 4.4% Power Generation(RNRL), 7.8% Petrochemical (Rel Petro), 30.4% telecom (rel. comm), 5.1% air transport(jet, deccan), 14% Bank PSU(SBI) and 38% Construction (GMR Infra, Omaxe, DLF; in the reducing percentage share in this category). Please comment. Is this right portfolio for medium to long term...?? I am also planning to buy slowly (on declines) some more share in aviation and hotels as I see aviation and hotels bright in long term. What do you say ?? Rahul Goel answers? rahul, hi. i am unable to comment on individual stocks. But since you are managing money on your own, I trust you have several hours a day that you can dedicate to this activity.
sanoj asked,? Hi Sir, I want to invest Rs.100000 for 6 years with the dividends reinvested. Which will be the best mutual fund option to get maximum returns at the end of 7th year and how much will I get approx.? I prefer a aggressive fund Rahul Goel answers,?sanoj, hi. first if you wish to invest for 7 yrs, and do not have need for near term cash flows, then best to opt for the growth option. Now coming to returns. I think it is reasonable to expect a return of no more than 15% pa over this period from a well managed equity fund. Even though you wish to be aggressive, opt only for the well diversified equity funds; give a miss to the sector funds.
moyanka asked,? hi if we are investing in mutual fund so in which scheme we get tax rebate and heigh return also Rahul Goel answers,? moyanka, hi. some funds, which are called equity linked savings schemes (ELSS) offer you some tax benefits. These have a lock in for three years and invest in the stock markets. Over 3-5 years such funds, if you select the right one of course, should be able to deliver you about 15% pa returns.
Harsh asked? We are working couple 37 and 34 years old with 02 kids 6 and 3 years and stay in our ancestral house in Delhi and wish to buy a plot in BPTP, Faridabad which will cost 30 lacs of which I can make down payment of 12 lacs and balance 18 lacs on loan for 15 years. I seek your advise I should go for this option or should I invest 18000/- per month (which is almost equivalent to the EMI of plot) in mutual funds / SIP etc. The main aim is to build capital at the same time if can own a piece of land would be great. We earn approx 8 lacs per annum and our annual liability is approx 3.5 lacs. Also how do see the growth of property in Faridabad in comparison grown in fundsRahul Goel answers? Harsh, hi. Without commenting on the property price in faridabad specifically, we are overall bearish on property. You will need to study the local market to get a final view. With regards to whether you should buy property or invest in funds.... over the long term it is most likely that equities will outperform real estate when it comes to generating return. The other advantage is that when you buy the property you are exposed to just one market - faridabad. You cannot diversify in property and then there are a lot of maintenance related issues. If you are looking for a better return, and less of a headache, maybe mutual funds will be better. But before you take a final decision discuss this in more detail with your financial planner.
rahul asked,'I want to invest in mutual funds. But I m pretty skeptical abt dng it. So can u advice? Which is the best mutual fund which can give me maximum profits at the end of year? What are my long term benefits that i can reap? Rahul Goel answers: Rahul, hi. I recommend that rather than investing in funds just because i am telling you that so and so scheme is good or not, i suggest you find yourself an honest financial planner and understand this investment opportunity in detail. Arun asked,' Which is a good opportunities fund to invest in. I have investments in HDFC Prudence, FT Prima, Reliance Vision, HDFC Top 200 and Mangum Taxgain, and feel investing in an opportunities fund will add some fizz to my portfolio.' Rahul Goel answers :arun, hi. well, if you wish to invest to get some fizz in your portfolio, its entirely your call! On a lighter note, don't forget the fizz runs out as fast as it starts! Ganpath asked,Sir, I am aged 40 years and having 2 children. Can save upto 50,000 per annum. Can I go for HDFC children Care and Pension Plan. Rahul Goel answers?Ganpath, hi. you are considering investing in a ulip; there is nothing wrong with that. Have you understood the cost structure completely? Be sure before you commit monies to a ulip.
Rahul asked,? I want to invest in mutual funds. But I m pretty skeptical abt dng it. So can u advice? Which is the best mutual fund which can give me maximum profits at the end of year? What are my long term benefits that i can reap? Rahul Goel answers? rahul, hi. I recommend that rather than investing in funds just because i am telling you that so and so scheme is good or not, i suggest you find yourself an honest financial planner and understand this investment opportunity in detail.
arun asked,? Which is a good opportunities fund to invest in. I have investments in HDFC Prudence, FT Prima, Reliance Vision, HDFC Top 200 and Mangum Taxgain, and feel investing in an opportunities fund will add some fizz to my portfolio. Rahul Goel answers? arun, hi. well, if you wish to invest to get some fizz in your portfolio, its entirely your call! On a lighter note, don't forget the fizz runs out as fast as it starts!
ganpath asked,? Sir, I am aged 40 years and having 2 children. Can save upto 50,000 per annum. Can I go for HDFC children Care and Pension Plan. Rahul Goel answers? ganpath, hi. you are considering investing in a ulip; there is nothing wrong with that. Have you understood the cost structure completely? Be sure before you commit monies to a ulip.
sutsi asked,? should i sell sbi blue chip?? Rahul Goel answers,? well, to start with we had not recommended this scheme to our clients. We recently posted some research on this scheme on personalfn.com . the performance definitely leaves a lot to be desired.
fgdfgd asked,? is investing in tax saving FD's advisable? Rahul Goel answers? This would depend why you are investing and also your overall profile. If you can take risk and need to grow your money, then FDs are not the right choice for you.
sa asked,? Do you think this is the best time to invest in mutual funds? Rahul Goel answers,?sa, hi. anytime is a good time to invest. But where you invest is most important in our view.
sharat asked,? I am Investing Rs.50000.00 every year in Tax saver Fund since three years to get Tax Benefit. This I am planning to continue for another Three years. Is it OK or shall I go for other tax benefit schemes? Rahul Goel answers,? sharat, hi. have atleast two schemes in your tax saving portfolio.
ajit asked,?Hi rahul,i have 24k to invest for tax planning. I have already invested in LIC and ELSS. So as per you where should i put this 24k,PPF or Pension Fund like Frankin pension fund? Pls advice. Rahul Goel answers,?ajit, hi. May be you need to put the Rs 24k exactly where you put the rest of the money! You do not have to invest in new instruments. The precise answer of course will depend on your profile and needs.
sanjieev asked,? Good afternoon arun..I am a M28, with CTC of 7L and with no liabilities for next 2 years...would it be good to invest 80% in equity(30% direct stocks+50%MF)with a time horizon of 5+ years..?? Rahul Goel answers? Yes, for such a long tenure, a predominantly equity portfolio will suit best. Since you plan to invest directly in stocks, be sure you have enough time to manage your portfolio.
JAGADEESH asked? What should be the performance of NFOs of AMB Amro China Fund, ICICI Asia Fund etc? Will they similar to other NFOs or give any special advantage to us? Rahul Goel answers? jagadeesh, hi. as has been personalfn's view with all the global funds launched so far, we are not going to be telling our clients to inevst in such funds. We recently wrote a note on why are not liking anything out there in this space. You may want to read it on http://www.personalfn.com/.
Anamika asked? Gud Afternoon Rahul, I have about 20 K of gift money lying with me which I wish to invest for the kids for use 5 years later. I want to distribute it in 5K each. Which MFs' should I consider? Which is the best SIP for Rs 2000 for 3 years? Rahul Goel answers? anamika, hi. well, i think you should consider schemes like hdfc equity and fr flexicap. Avoid sector and thematic funds. Keep the portfolio simple. Best would be to employ the services of a finanical planner... that will rid you a lot of the worries.
SEEMA asked? HELLO SIR, I am seema , i recently got married ,both of us working in a pvt ltd company,wish to buy a plot or flat in perambur near chennai city which costs 15 lacs ,i wish to buy only after 4 years. keeping in mind about the inflation rate and the increasing real estates values i can afford to make the down payment for only 5 lacs and for the bal i can go for the loan where i can pay an emi for 9000.The main aim is to own a piece of plot .My monthly expenses are 5000.our salary comes to 20000.how to plan our salary to make our dream comes true with this little salary. Kindly advise me. Regrds SEEMARahul Goel answers? seema, the answer is simple... save as much as you can; invest the monies in well managed mutual funds; since your tenure is about 4 yrs, you can opt for equity funds. Over time, disciplined investing will help you reach there.
Ravi asked,? Hi Rahul, We (DINK couple) make annum but not able to decide on owning home. Shall we live in a rented apartment or buy one?Rahul Goel answers,? ravi, hi. well, ultimately you may want to own one property; but then this may not be the best time to buy one! Where are you investing the monies currently? Is the allocation done thoughtfully or are you just investing where some friend tells you to?!!
abcxyz asked,? Is it advisable to invest in ELSS funds even if I do not require Tax saving instrument. Peformance of ELSS is similar to other equity funds. Rahul Goel answers,? May be yes. Since these funds have a lock in, the fund manager has more flexibility in planning his investments. Having said that I would prefer an open ended fund so that in case there is an emergency the money can still be taken out.
SARMA asked? Why there is no uniformity in ULIPs unlike in MF and can IRDA learn something from SEBI in cracking whip on life insurance companies who are notoriously wrong-selling Rahul Goel answers,? sarma, hi. I think all of us share the concern of mis-selling. lets hope the regulator does something about this. But this does not take away the fact that since we are investing our money, we need to take well informed decision. This requires study and/or an honest financial planner.
SP asked? Hi Rahul, Please suggest a good pension scheme for my husband (aged 33). The only insurance investment he has is in Jeevan Shree taken abt 6 yrs back. We pay 18K per mth as EMI for housing loan. Other investments such as PPF and SIP come to 10K per mth. Pls suggest some good scheme for retirement planning. Rahul Goel answers,?hi. Since you have maybe about 25 - 30 yrs to retire, one option you have is to build a corpus by investing in equity funds and then later shifting the money to instruments which can generate monthly income. This will require some discussions with your financial planner. Before you commit monies, be sure of what you are getting into.
Sangeeta asked,? Hi Rahul, I've an outstanding housing loan of 35 lacs for which I'm paying 36000 emi. Do you think it's a good idea to preclose the loan? If I don't at the end of 20th yr, I'll be paying out almost 85lacs towards it. Please suggest Rahul Goel answers? sangeeta, hi. as we have discussed several times in this chat, whether you wish to prepay depends largely on you. If you are not comfortable with having a liability on your books, simply pay it back. Else keep it, and invest your surplus in assets which will hopefully earn more than the interest on the loan.
Jeevan asked? DO ELSS FUNDS QUALIFY FOR TAX DEDUCTION UNDER SECTION 80C? For eg: Principal Personal Tax Saver Fund? Rahul Goel answers? jeevan, hi. Thy do qualify for this tax benefit.
Pravy asked,? I want to accumulate 50 Lakhs corpus after 5 years. Please advise what kind of investment i have to make in SIP. I have taken 500Rs/month sip for SBI TAx gain, 1000Rs/Month SIP for HDFC EQUITY & 1000rS/MONTH SIP FOR RELIANCE VISION FUND. Where else do you advise me to invest to have a corpus of 50 lacs after 5 years. Rahul Goel answers? pravy, hi. assuming you wish have a maturity value of rs 50 lacs in five years, you need to set aside about rs 60,000 per month in instruments which can return you about 15% pa. So invest keeping this in mind. Which is the best long-term investment option in Debt if I want to get regular income? MIP or Short-term Funds with Dividend Payout or SWP? Rahul Goel answers? \u003c/span\>jayesh, hi. if you can take some risk for the low risk mips, with a qtr div payout. but if you do not want to take any risk go in for fixed deposits. Ssaurav asked,? \u003c/span\>\u003cspan style\u003d\"font-size:9pt;font-family:Arial\"\>Hi Rahul, I live in Kualalumpur (indian citizen) and want to invest in Indian mutual funds , how do i do it sitting from here.
Pravy asked,? I want to accumulate 50 Lakhs corpus after 5 years. Please advise what kind of investment i have to make in SIP. I have taken 500Rs/month sip for SBI TAx gain, 1000Rs/Month SIP for HDFC EQUITY & 1000rS/MONTH SIP FOR RELIANCE VISION FUND. Where else do you advise me to invest to have a corpus of 50 lacs after 5 years. Rahul Goel answers? pravy, hi. assuming you wish have a maturity value of rs 50 lacs in five years, you need to set aside about rs 60,000 per month in instruments which can return you about 15% pa. So invest keeping this in mind.
Jayesh asked? Which is the best long-term investment option in Debt if I want to get regular income? MIP or Short-term Funds with Dividend Payout or SWP? Rahul Goel answers? jayesh, hi. if you can take some risk for the low risk mips, with a qtr div payout. but if you do not want to take any risk go in for fixed deposits.
saurav asked,? Hi Rahul, I live in Kualalumpur (indian citizen) and want to invest in Indian mutual funds , how do i do it sitting from here Rahul Goel answers,? saurav, hi. the investing part is easy. First you should think about where you will invest!
Shankar asked,? Hi Rahul, thanks for your time. I have in portfolio HSBC Ad India (SIP), UTI Leadership (single), Reliance Equity (single), SBI Midcap (single), Fidelity equity (single), Franklit Prima (SIP), HDFC Long term advantage. 1) I am not sure if my distribuiton are adequately diversified 2) I would like to restrict my funds to a max of 5. Please suggest which ones should I continue with. Rahul Goel answers? shankar, hi. your portfolio in all probability needs change; quite a bit of it. For me to be able to guide you precisely, I will need to know more about you.
aayush asked,? Hi, thanks for yr. suggestion, no I am a client of personalfn, but, my second question is what is the best equity fund in SIP plan........ Rahul Goel answers,? oh! how i wish you were!! if you are looking at a long term plan, then consider having schemes like hdfc equity and fr flexi in your portfolio. Do not have more than 5/6 schemes; and of course, avoid nfos.
arunvs316 asked,? Hi rahul, Do you really think financial planning as a concept will be popular among indian masses? What do you think is the biggest challenge financial planners will face? Rahul Goel answers? Yes, it is a necessity. The challenge is the same for everyone - giving honest and credible advice, backed by great service.
Ana1 asked? What do u mean by FMP and which is the best one? Rahul Goel answers? FMPs are fixed maturity plans; these are effectively close ended debt funds.
jyoti p asked,? Is mutual fund the right product for retirement planning? if so, what should be mix of equity and debt for this purpose? Rahul Goel answers? jyoti, hi, suppose you are to retire 30 yrs from now; you need to accumulate money, right. The best place for such long term investments is the stock markets... so most of the money you save should go there. next should you invest directly or via funds? this would depend on how capacitated you are and how much time you have to manage your onn portfolio.
dalalnirav@rediffmail.com asked? Is it true that large cap funds should form the core of your portfolio? Can you suggest 2-3 good large cap funds.Rahul Goel answers? yes, in most instances. fr bluechip is a fund we like. but having said that, i would still prefer to be invested in a diversified equity fund.
Emsysprof asked,?I am 37 years old earning 10 Lakhs per annum now. How I should plan, if i wish to lead a happy retirement life after 55 years Rahul Goel answers,?well, to ensure you have a happy retirement life, employ the services of an honest finanical planner! frankly, its difficult to do this over email... on personalfn you will find a guide to retirement planning, which you may want to read.
Prasad asked? I brought DSPML technology.com @ 30.50 before 5 months, but it is declining since then, shall I hold? If yes for how much time?Rahul Goel answers? prasad, hi. in our view one should not invest in sector funds. They are inherently volatile and do not deliver the risk adjusted return they should over the long periods of time.
SEEMA asked,?susanne, hi sir, gud after noon to u, i want to build a corpus of 20 laks after 5 years , how much i hav to save per month to build this corpus i want this corpus to buy a plot .my sal is 15000 per month ,my expenses per month are my expection above than my income .Rahul Goel answers,?seema, hi. You need to invest about rs 23,000 pm in assets yielding about 15% pa return. since you do not have this surplus do not stop your plan. Continue investing; put in more money when you have more liquidity to make up for this shortfall. Navin asked,?Dear Rahul, Hope you will certainly help in my problem. I have invested in Standard Charter Equity enterprise fund. During IPO the fund claimed that they will invest in IPO of stocks, however I see they do not have any share of recent IPO's, there is lockin of 3 yrs. Please tell me whom should I approach for this breach of trust. Thanks. Rahul Goel answers,?navin, hi. you can write to us at target
SEEMA asked,?susanne, hi sir, gud after noon to u, i want to build a corpus of 20 laks after 5 years , how much i hav to save per month to build this corpus i want this corpus to buy a plot .my sal is 15000 per month ,my expenses per month are 8000.is my expection above than my income .Rahul Goel answers,?seema, hi. You need to invest about rs 23,000 pm in assets yielding about 15% pa return. since you do not have this surplus do not stop your plan. Continue investing; put in more money when you have more liquidity to make up for this shortfall.
navin asked,?Dear Rahul, Hope you will certainly help in my problem. I have invested in Standard Charter Equity enterprise fund. During IPO the fund claimed that they will invest in IPO of stocks, however I see they do not have any share of recent IPO's, there is lockin of 3 yrs. Please tell me whom should I approach for this breach of trust. Thanks. Rahul Goel answers,?navin, hi. you can write to us at info@personalfn.com and we will forward to sebi. or you could write to sebi directly. their web site is http://www.sebi.gov.in/
vijaysh asked,? Sir, i want to invest in Bank FD .can i get tax benefit u/s 80c Rahul Goel answers? not all fds give this benefit. Be sure to select the fd which offers this benefit; your banker will be able to guide you.
rajeshrao asked,? I would like to gift my son(1year old) on his birthday with an one time investment scheme, which would be helpfull in his future. Please advise me what are the schemes available, and your valuable suggestion on this. thanks in advance. Rahul Goel answers,? rajesh, hi. best would be to put the money in a basket of well managed and well diversified equity funds. i have discussed some names earlier. but get the allocation right... speak to your financial planner.
sudip asked,?I have 2 crore rupees to invest. Currently I have invested 75 Lakh in equity (MF and direct stocks), 10 Lakh in NIFTY linked debenture, 10 Lakh in Crayon Art Fund, 5 Lakh in US Savings, 1 Crore in FD for 1 year @ 11.75% interest. I am 35 years old and married with two small children and service is my occupation. Please suggest if I need to change my portfolio.Rahul Goel answers,?sudip, hi. with the surplus you have you will have your private banker on the phone all the time! no wonder you are invested in such exotic funds! In our view, these funds are best avoided... i am referring to the art fund and also the debenture. a large part of your money is in an FD. i am not sure why... i think you should aovoid investing ad hoc and talk to some financial planner.
Sutapa asked,?I have the plan to invest Rs. 50000 in mutual plan. Is it right time to invest in that? whether it is worthy to invest in one fund or a couple of fund. what re the fund to invest? Rahul Goel answers,?sutapa, hi. best way to invest is to do so regularly in small amounts; have a portfolio of about 5/6 schemes.
karthik asked,?Hi Rahul, My CTC is 4.2 L, and as if now i have not invested in any thing.. From last decmember I have started working and I want to investment for Tax gaining as well as future need.. Please suggest what steps I need to take from now on.. Rahul Goel answers,?karthik, hi. best step would be to find yourself an honest finanical planner. since you are liquid and are not sure what to do with your money, it will not be long before agents/disributors start throwing ideas at you...ideas which many money for them!
vilbee asked,?Hi Rahul I am 32 year old female and have 50 lakhs in savings and investments, and own my home (debtfree). I may quit working soon and assuming no further income flow, and annual expense requirement on 2 lakhs per year only, what should I do with my fund of 50 lakhs with a view to safely increase wealth Rahul Goel answers,?vilbee, hi. with the kind of surplus you have, you should have no difficulty in meeting montly needs and also ensuring that your capital grows. the obvious idea for investing this money is a small portion in mips, maybe some in fds (as you can avail the return tax free upto a limit) and the rest in riskier instruments.
AAAA asked,?Should one avoid sector funds via SIP? Rahul Goel answers,?one should avoid sector funds, whether you are investing via sip or lumpsum.
Ravi_Kiran asked,?Hi Rahul, Good Afternoon. What's your view of latest NFOs Fidelity Growth, ICICI Pru Indo Asia Fund...? Rahul Goel answers,?ravi, hi. we have recommended to our clients at personalfn to give a miss to both these funds.
amitpaithankar asked,?Hi Rahul, I have made some investment in whole life insurance policy. should i continue with this or choose another policy? Rahul Goel answers,?amit, hi. depending on the cost, you may want to continue it. i hope its a pure risk policy...
Ravi_Kiran asked,?At personalfn, the latest article about global funds is really good. As you suggested in the same, as of now do we have any global funds that invest not only in emerging (ex. asian) markets but also in all variety of economy...? Rahul Goel answers,?thanks ravi. no, as of now, we do not have any such gobal fund.
venkat asked,?what is your opinion on tata indo global infrastructure fund Rahul Goel answers,?venkat, hi. i think you should avoid investing in this fund as it carries very high risk... unless of course you have the appetite for it.
Exchange Traded Funds
What are Exchange Traded Funds (ETFs)?
ETFs - Similar to Index Mutual Funds, but Not
What is an ETF? In short, they are similar to index mutual funds, but are traded more like a stock. As their name implies, Exchange Traded Funds (ETFs) represent a basket of securities that are traded on an exchange. As with all investment products, exchange traded funds have their share of advantages and disadvantages.
Advantages of Exchange Traded Funds
Being similar to stocks, exchange traded funds offer more flexibility than your typical mutual fund.
ETFs can be bought and sold throughout the trading day, allowing for intraday trading - which is rare with mutual funds.
Traders have the ability to short or buy ETFs on margin.
Low annual expenses rival the cheapest mutual funds.
Tax efficiency - due to SEC regulations, ETF tend to beat out mutual funds when it comes to tax efficiency (if it is a non-taxable account then they are equal).
Disadvantages of ETFs
Unfortunately, exchange traded funds do have some negatives:
Commissions - like stocks, trading exchange traded funds will cost you.
Only institutions and the extremely wealthy can deal directly with the ETF companies (must buy through a broker).
Unlike mutual funds, ETFs don't necessarily trade at the net asset values of their underlying holdings, meaning an ETF could potentially trade above or below the value of the underlying portfolios.
Slippage - as with stocks, there is a bid-ask spread, meaning you might buy the ETF for 15 1/8 but can only sell it for 15 (which is basically a hidden charge).
The Bottom Line
After comparing the advantages and disadvantages to using ETFs, you might conclude that they are a better deal than mutual funds - not true. Commissions make ETFs unattractive. If your portfolio is a tax deferred investment, like a 401(k) or an IRA, then you can avoid paying commissions by investing directly with a mutual fund company. Even in a taxable account, commissions make exchange traded funds look bad.
Morningstar provides a great example: a lump-sum investment of $10,000 in the iShares S&P 500 Index, with a very low trading cost of $8, would need to be held for two years to beat out the Vanguard 500 Index's costs. If you are investing less than $10,000 and are paying more than $8 commissions, or you are investing more than once, this example would make ETFs look much worse.
Investing directly with a mutual fund company generally beats out ETFs, especially in these situations:
Non-taxable accounts
Small investments - if you invest a certain amount each month or are on some sort of automatic investment plan (ETF commissions would kill your investment).
Active traders - although ETFs are primarily geared towards active traders, an active trader might be better off with mutual funds which don't charge commissions (most mutual funds discourage active trading, but some, like Rydex, Profunds and Potomac Funds encourage it).
When to Use Exchange Traded Funds (ETFs)
Discover When ETF Investing Make the Most Sense
In What Are Exchange Traded Funds I list the differences between exchange traded funds (ETFs) and mutual funds. In many cases mutual funds are still the better choice, but in some situations ETFs are the right choice. Let's explore those situations.
Lump Sum Investment
One of the biggest advantages of mutual funds, is the ability to purchase them without trading costs. However, if you have a large amount of money to invest, perhaps from an inheritance or a 401(k) rollover, trading fees may be of little concern to you. A $15 commission on a $100 investment is catastrophic (a 15 percent hit), but on a $100,000 investment, it isn't bad at all.
Market Timing
If you are a market timer, ETFs may be a pleasant surprise for you because you can trade them intra-day. ETFs also allow you to trade certain industries, countries, and indices that may not be as easily available in the fund or stock markets.
Ever since mutual funds came under fire because a few fund companies allowed market timers to cheat the system, timing mutual funds has become more difficult. Mutual fund companies have placed more restrictions or penalties on short-term trades than ever before. ETFs are a way to avoid these restrictions because they are traded like stocks.
Despite the market timing appeal of ETFs, there are a couple fund companies you should consider before you jumping in. Both Rydex and ProFunds allow intra-day trading on their index funds. I suggest you look at them first.
Taxable Investments
One disadvantage of mutual funds is that they must pay distributions at the end of the year, per IRS rules (see Capital Gains or Capital Punishment). ETFs get around this. However, when you sell your ETF, it is subject to normal IRS capital gains rules (remember, ETFs trade like stocks).
Bottom Line
Generally, mutual funds are the better choice, but in the situations like these, an ETF might serve you best. Even though my site is primarily focused on mutual funds, I realize the opportunity and convenience that ETFs offer. I admit to owning a few myself.
ETFs - Similar to Index Mutual Funds, but Not
What is an ETF? In short, they are similar to index mutual funds, but are traded more like a stock. As their name implies, Exchange Traded Funds (ETFs) represent a basket of securities that are traded on an exchange. As with all investment products, exchange traded funds have their share of advantages and disadvantages.
Advantages of Exchange Traded Funds
Being similar to stocks, exchange traded funds offer more flexibility than your typical mutual fund.
ETFs can be bought and sold throughout the trading day, allowing for intraday trading - which is rare with mutual funds.
Traders have the ability to short or buy ETFs on margin.
Low annual expenses rival the cheapest mutual funds.
Tax efficiency - due to SEC regulations, ETF tend to beat out mutual funds when it comes to tax efficiency (if it is a non-taxable account then they are equal).
Disadvantages of ETFs
Unfortunately, exchange traded funds do have some negatives:
Commissions - like stocks, trading exchange traded funds will cost you.
Only institutions and the extremely wealthy can deal directly with the ETF companies (must buy through a broker).
Unlike mutual funds, ETFs don't necessarily trade at the net asset values of their underlying holdings, meaning an ETF could potentially trade above or below the value of the underlying portfolios.
Slippage - as with stocks, there is a bid-ask spread, meaning you might buy the ETF for 15 1/8 but can only sell it for 15 (which is basically a hidden charge).
The Bottom Line
After comparing the advantages and disadvantages to using ETFs, you might conclude that they are a better deal than mutual funds - not true. Commissions make ETFs unattractive. If your portfolio is a tax deferred investment, like a 401(k) or an IRA, then you can avoid paying commissions by investing directly with a mutual fund company. Even in a taxable account, commissions make exchange traded funds look bad.
Morningstar provides a great example: a lump-sum investment of $10,000 in the iShares S&P 500 Index, with a very low trading cost of $8, would need to be held for two years to beat out the Vanguard 500 Index's costs. If you are investing less than $10,000 and are paying more than $8 commissions, or you are investing more than once, this example would make ETFs look much worse.
Investing directly with a mutual fund company generally beats out ETFs, especially in these situations:
Non-taxable accounts
Small investments - if you invest a certain amount each month or are on some sort of automatic investment plan (ETF commissions would kill your investment).
Active traders - although ETFs are primarily geared towards active traders, an active trader might be better off with mutual funds which don't charge commissions (most mutual funds discourage active trading, but some, like Rydex, Profunds and Potomac Funds encourage it).
When to Use Exchange Traded Funds (ETFs)
Discover When ETF Investing Make the Most Sense
In What Are Exchange Traded Funds I list the differences between exchange traded funds (ETFs) and mutual funds. In many cases mutual funds are still the better choice, but in some situations ETFs are the right choice. Let's explore those situations.
Lump Sum Investment
One of the biggest advantages of mutual funds, is the ability to purchase them without trading costs. However, if you have a large amount of money to invest, perhaps from an inheritance or a 401(k) rollover, trading fees may be of little concern to you. A $15 commission on a $100 investment is catastrophic (a 15 percent hit), but on a $100,000 investment, it isn't bad at all.
Market Timing
If you are a market timer, ETFs may be a pleasant surprise for you because you can trade them intra-day. ETFs also allow you to trade certain industries, countries, and indices that may not be as easily available in the fund or stock markets.
Ever since mutual funds came under fire because a few fund companies allowed market timers to cheat the system, timing mutual funds has become more difficult. Mutual fund companies have placed more restrictions or penalties on short-term trades than ever before. ETFs are a way to avoid these restrictions because they are traded like stocks.
Despite the market timing appeal of ETFs, there are a couple fund companies you should consider before you jumping in. Both Rydex and ProFunds allow intra-day trading on their index funds. I suggest you look at them first.
Taxable Investments
One disadvantage of mutual funds is that they must pay distributions at the end of the year, per IRS rules (see Capital Gains or Capital Punishment). ETFs get around this. However, when you sell your ETF, it is subject to normal IRS capital gains rules (remember, ETFs trade like stocks).
Bottom Line
Generally, mutual funds are the better choice, but in the situations like these, an ETF might serve you best. Even though my site is primarily focused on mutual funds, I realize the opportunity and convenience that ETFs offer. I admit to owning a few myself.
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