Mortgages, Short Term Loan, Payday Loans, A boon or bane for the economy?

by ExpertBlogger 2. October 2018 15:00

The attractive option of getting the loan on same day and repaying it back the next payday without suffering a huge debt or credit check is the major advantage of payday loans. A small provisional loan taken to conduit the borrower's cash flow gap between paydays, is referred to as a payday loan. They are loose, but have high-interest and for a short-term and can be aptly referred as micro loans. These loans are usually settled in cash, and the lender processes the cheque or takes out from the borrower's active account on the date of maturity of the loan. 

As evident from the name, the loans are usually taken and repaid within a period as long as of 30 days. Also, the payday loans are usually repaid on next payday, therefore one can see that they are always in control of their payday loans irrespective of what others would say. Giving each one of us a viewpoint that we are our own masters of our payday loans is the most fruitful strategy charted by the providers of these loans. This is because the payday loans have highest rate of interest as they are repaid in less than a span of 30 days. 

So with this the banks and the lenders will definitely opt for Payday loans because even if a bank has or bad loans and stuff. For the lender it is low hanging fruit and as it is an easy money. However, according to a research survey it has been recorded that after subtracting the fixed operational cost and the default losses, the payday loans company does not make considerable profit. There have been cases of fake cheques presented by borrowers as security, and as a result, such cheques bounce when being en-cashed by the bank.

In developing economies like India payday loans are not very popular because of the gravest reasons like a pile-up of bad loans, Indian Banks seem to be pursuing the wrong race. The non-performing assets (NPA) accumulated by Indian lenders are higher than those of Indian banks as contrast to many of the major economies of the world, including USA, UK, China and Japan. Indian banks' gross non-performing assets (NPAs), or bad loans, stand at INR 10.25 lakh crore reported on 31 March 2018. This pie of the cake now accounts for 11.8 percent of the total loans given by the banking industry. For financial year 2018, the total bad loans of these banks rose by a whopping amount of INR 3.13 lakh crores.  It will take years before these banks can get rid of NPAs, accumulated over the years on account of multiple factors.

 Also even the lenders are not easy-going on their customers. Quite often these payday lenders are criticized. They are called the merciless loan sharks attacking the poorer section, low income areas, which are unable to realize the time value of money. Many people find the interest rate on the payday loan puts the weaker section in difficulties, whereas the richer community can afford to pay even up to 25% interest or so on their credit cards.

Pay-day loan is a benefit for customers because they can save you in times of distress. Had it been possible to know or predict financial emergencies, then payday loans would not have happened! Many at times you may find yourself caught in unexpected situations and you may not be well equipped to deal with the situation. Like when you fall sick, or your car breaks down, you would have to bear on your planning budget for the month. So for these kinds of short-term money crunch situations, payday loans are of great help as one can get instant cash right when needed. Pay-day loans can be applied for online as well and the money gets deposited into lender’s account directly and instantly.

To conclude, in the long run if the bad loans increased due to pay day loans then it would be because of the lenders who do not do a thorough check of the credit history of the customers or burrowers. However the things go smoothly and if proper background checks are conducted on both sides then they are very beneficial for the middle income strata and also the banks or financial institutes that give these micro loans on short-term basis.

Is Social Media is a threat to privacy?

by ExpertBlogger 8. September 2018 14:51

Facebook is the largest social media website for bringing people on the same platform and help them share their lives with each other. Facebook is not just a platform but it has turned into a global phenomenon that has turned the world of networking by 360 degrees. The users of Facebook connect with each other socially, share their moments and events of life, their favorite things in life, their pictures etc. The users who subscribe for Facebook have been given privacy rights to secure their profiles and data from other users of Facebook not known to them and also if there is any information they want to share among the selected group of people and not with an entire list of friends. A user can safeguard his/her images to be downloaded or saved by others and also there is a block setting provided to each user in order to screen any other user that has been a trouble to an individual.

Despite all the privacy control that a user has been given by Facebook, the data that is stored at Facebook servers are the biggest threat to a user’s privacy. Facebook stores and harvest this data about people for various marketing searches. According to a legislation passed by US government on 23rd March 2018 all over the world the governments can use the “private online data” of the subscribers of Facebook for prosecution and investigation purposes, hence making data harvesting a legal act which can use by governments.

Using data from unconnected people and mapping the common factors from them for friend’s suggestion, a feature that has been added and it works based on the personal information that a user provides about himself through Facebook, makes the information provided by the user vulnerable for hackers. A person who has a Facebook account can be searched all over the applications like Google, Truecaller etc. Google search can be restricted now upon changing the privacy settings however the linkage of old data at Facebook servers still persists on Google. Facebook constantly asks you to provide your phone number for account retrieval process in case the user forgets his/her password. 

Then come the sales and marketing strategies that are now focused on those sets of people that have Facebook account and their activities through their online accounts may give myriads patterns of consumer behavioral statistics which are gathered from each user’s account without his/her information and used in market research by the businesses. Every click a user does is being captured by Facebook’s intuitive algorithms and are used by various organizations including the government agencies to keep a tap on everyone in the world who has the social network. The pictures, the statuses, and the various activities in the form of check-ins are prone to misuse by strangers and hackers. In the past before Facebook has given full access to the user to protect the account from everyone in the world the material posted by the users online was very much hackable and had led to crimes in the society. 

There are thousands of advertisements from all over the world that are posted on the Facebook and they keep flashing every now and then, if the user clicks on any one of the e-commerce websites and browse through few items listed there, however, don’t buy any, then those products would keep lingering onto your Facebook wall until you buy them. There is no transparency provided by Facebook to the use or misuse of an end user’s data. The ethical use of a person’s data is allowed but not selling of the information that he/she does not wants to share. A user’s personal data and the searches that are made by him/her are sold to various parties for growing their businesses and also to flourish Facebook’s business of creating virtual social networks and making the public believe that in the era of world wide web anything that is not online is something which not technologically savvy. So, people, in order to gain social acceptance in the society and to fall prey to this game of virtual networks, to create online accounts and then get addicted to the ways of it and gradually becoming the reason of the huge empire formed on the use of online data. 

Media & News , Open your eyes

by ExpertBlogger 15. February 2017 10:30

We live everyday life with our friends and family and we are pretty busy in what we are doing day today life, we always have priorities for work, family, kids and our hobbies but in between these we are also prompt about the everyday news around us, that could be our local news which tells you what is happening in your town or national news about politicizes, spots and other things. Back in days people were have to relays on newspapers to get these news delivered to their house but now a days new papers in kind of disappeared, I hardly remember last time I have had read the new paper now a days every this is on new channel, we are totally depend of news channel for our day today news that are not limited to your local city of state but national and international news.

News

Now is the big dilemma in everybody’s mind in there are quite a few different kind of news channels and when one news has been broadcasted via one new channel and other news from other news channel what is the credibly for their information, what the truth and what is made up there is always a speculation that these kind of things are  happening around us, if you look at any film or tv series there is a censor board and it decide that what is good or bad or at least rate them depending on the content of the film that which age group is allowed to watch. In terms of new channels there is not such cerserhip of anybody who is looking on them. 

This is for sure that each and every news channel is here for making money and straightforward logic is how to you make more money? and only answer is to get as many as people to watch your news channel and what you need to do is show any sensational news were people are interested. Now the normal news which people want to know are not sensational then they have make those news sensational in order to get many people to come to their news channel to watch those.

In all the nobody bothers about the authencity of news there are broadcasting , nobody bother about the consequence to anybody’s life or effect on society , if you are looking at the political news the it has been clearly noticed that each and every news channel as political connection and they show the news which are biased to the particular political party and their views, they will always tried to sabatise the image of another party in order to get popularity of particular political party and these political parties has tones of money to get hold of popular news channel and convey their message in way they want to convey. In my view if any news channel showcase any unbiased news then it will be not popular because they will not have any sensational content and eventually it will sunset of that channel.

If you look around this is going in round robin fashion, powerful political parties has more money has more new channel in their hand and they use this media and news to get more popularity and make more money to again pump into news in media and this is never ending.

Is there any time when we will have somebody who can look at all these new channels and give them strict restrictive guideline line to follow their noble profession of journalism , till that thing happened you keep your eye and ear open and think before you believe on any news you read or see or hear.

Entertainment for Children, Are we doing enough?

by ExpertBlogger 11. July 2016 09:44

The children of 21st century are not generation X they are now generation Z or may be generation Y. They are a step ahead of generation X kids who somehow did not live into the world of internet completely but lived in the real world too. However the generations to come will witness everything at the click of their smartphone and every feeling in the form of virtual reality. Internet is the ocean of information from all around the world, but the challenge is how to search relevant content for children. It is like they are sunk into this ocean and there is no respite from it as Google is the answer for all the questions under the sun. As a result Google exposes the kids to numerous other content which are not meant for them. Entertainment industry especially outside US too does not offer a wholesome relevant entertaining package to children due to lack of audience in this segment. The animation and action both the forms lack a quality for children and they are largely dependent on foreign channels and movies for their entertainment needs. They like Avengers, Pokemon, Superman and many such animated and action heroes.

In India children have a scarceness of the animated films. Some shows being a class apart from its counterparts and most adored by Indian or other kids is the only such movie of our times which has changed the definition of kids’ entertainment. The monetary investment are high and returns are marginally lower. The producers and directors like to make commercially successful projects whereas the children want something of high quality visual and audio, they are exposed to the world of PS and internet and they like some really good high dimensional experience. The kids know exactly to maneuver most of the devices like smartphones, iPad, play stations and they are into high grade entertainment and amidst this if they are given a ham-fisted piece of art or animation they will not lap it and will slowly move to the world of virtual reality which is through gaming consoles which give them more liberty and enthusiasm. We lack the type of entertainment which Minions or Ice Age or Harry Potter yields to the children and it is because in Bollywood children’s film are not a category. Some movies hit the theatre once in years, and filmmakers are not at all motivated to make such films which cater to the children’s psyche. Children’s films may not give them enough profits which they sure to get when they launch a superstar in their movie. However the dearth is of engaging content for children, which could make them relate to their lives and things around them. Children have productive minds. Their inquisitiveness proportion is much higher than that of adults. They want to discover, know further, and unleash their fancy. Stories, songs and visuals partially fulfill this curiosity and leave them to want for more. 

 

Films help shape children’s artistic receptivity, polish their quizzical skill, and finely help to baseline their value systems. India is the largest producer of feature films in the world (over 1000 films a year), the number of children’s films it produces annually is appallingly low – just about a handful or so per year which is not an encouraging number. Though India does not have a scarcity of stories, there is a dearth of good screenplay writers and directors for sure who could render the stories into entertaining films. On commercial grounds the producers do not plunge into children’s meaningful cinema as they believe in the fact that there is a little take away for everyone in their mainstream films. The film fraternity should step up for the making of films meant for children and display a different sensibility in terms of art which can provide the needs of children entertainment and they should not resort to the unlimited and uncensored content on the Internet and indulge themselves in the films which are made for them, making them responsible as well prevent their mind to wander in the unbounded source of content available on internet.

By Whom, When & What to watch? Decide!!

by ExpertBlogger 18. May 2016 15:24

We have been always choosing what we want to watch or not, we always cared about what our kids are watching and when they are watching. The filtering of the content that can be considered as obnoxious and irrelevant for the set of audience who would see or watch it is called censorship. It is not just a term but a colossal phenomenon that is practiced worldwide in order to prevent the common man from those thought processes or views that have come from a person or a group of persons through their piece of work in most cases it is the work of art, that is reviewed thoroughly before bringing it to the audience. Censorship plays an important role in shaping the society with its screening of the improper content. The most pronounce area where censorship plays a dominant role is the media and the film industry and to some extent the literary works of artisans. In the democratic countries of the world like India, US and many others the freedom for speech or expression is the basic and most important right of every citizen, until any of their citizen tries to exercise this right in a way where it would hurt someone’s sentiments.

We live in a society that is majorly driven by certain norms and following them makes us responsible and unfollowing them makes us a rebel. A section of society who are artists, performers or writers have a certain viewpoint for something that goes around them and they express it through their work of art or creatively depict it but this could hurt many others living in the same society who would found it objectionable or questionable for their values. Censoring such content which otherwise belong to a particular person or a group is the duty of the censor board or committee in any country. To run the checks against the set principles that a particular society harbors to that creative work. Acting as a mediator between the creativity and the societal norms the censor board ensures that the relevant content is produced and the relevance of it is not lost in this process. For example it is the portrayal of violence on television or films that could lead to an increased rate of crime in a society, as it will influence the young minds to do the unprecedented. United States of America is the most liberal nation of the world and it exercises minimal censorship on it’s citizens and the press. Censorship body is meant to protect the sanctity of a society by reminding the people that the norms should be exercised in order to form an egalitarians society.

However the sole purpose of this type of set up to keep a guardian for protecting the society’s customs may sometimes violates the rights of the people who want to bring forth their creativity to the public and give them a different perspective. A governing body to keep an eye on the artists and press so that any inapt material should not reach the public may be a cruel way to hamper the creativity of media and press. It curbs their rights to freely give something to this world which otherwise the world is unaware of. The most controversial of all is politics which should be popularized or defamed with extreme care. Now a days the press practices no control to publish any content on TV or in newspapers, in order to practice the yellow journalism and as a result it creates useless heroes before the nation to gain viewership. The numbers they present are mostly inflated, the facts they put before are exaggerated and the people they glamourize are often shallow.

Censor board has the authority to stop this however it has become increasingly difficult for them to filter out inappropriate from the appropriate content. Another sensitive topic is religion all works that are done based on propagating a particular faith like writing a book, making a movie or a documentary or painting a canvas requires a very careful restraint on the artist or the author in order to make sure that the final piece of art is not disruptive in nature and does not create any upheaval from any community. Censor board has a vital role to play in order to make and maintain a balance of paradigms amongst different sections of people with varied tastes and psyche.