Booker Prize goes to Aravind Adiga, the 33-years –old, Chennai- born author won the $50,000 man Booker Prize on Tuesday for his debut novel “The White Tiger.”
What is meant by mortgage and mortgage loan?
A mortgage is a method of using property (real or personal) as security for the performance of an obligation, usually the payment of a debt. A mortgage loan is a loan secured by real property through the use of a mortgage (a legal instrument). However, the word mortgage alone, in everyday usage, is most often used to mean mortgage loan.

Explain fixed rate Mortgage Loans and Adjustable rate Mortgage Loans?
Fixed-Rate Mortgage Loans:
The interest rate for a fixed-rate mortgage remains constant for the duration of the loan.
Adjustable-Rate Mortgage Loans:
The interest rate for an adjustable-rate mortgage (or ARM loan) fluctuates during the duration of the loan.
What is 80/20 Mortgage Loan?
80/20 Mortgage Loans:
In this type of loans the home buyer takes out two loans -- the first for 80 percent of the purchase price, and the second for 20 percent of the home's price. The borrower is expected to come up with the closing costs.
"It allows people to buy without a down payment, or for those people who would prefer not to touch their savings to get into a house,"
This type of loan is for people who have gotten out of college and have good jobs. They have good credit, but they haven't had the opportunity to accumulate a lot of savings."
This mortgage plan avoids paying mortgage insurance by getting a second mortgage to back up the first mortgage. The first and main mortgage is for 80 percent of the home's price. The second loan is for 20 percent of the home's price, minus the down payment, if any. If you see mention of an 80-15-5 loan, it means that the borrower got a main mortgage of 80 percent of a home's purchase price, a second loan for 15 percent, and made a 5-percent down payment. Combinations, such as 80-10-10, are also possible. The 80-20 uses a loan without a down payment.

The first ever India-Africa Forum summit was held on Aprail 8-9 2008 in New Delhi. Prime Minister Dr. Manmohan singh announced a duty free tariff preferece scheme for exports from 50 Least Developed Contries- of these 34 are in africa. He also doubled credit assistance to Africa to $ 5.4 billion.He also announced an enhanced quota of 1600 seatsannualy for african under it's flagship technical trainning scheme, ITEC.

Khuda Ke Liye (In the name of God)- directed by Shohaib Mansoor becomes the first film from pakisatan to be released across cinemas in more than four decades.

What is CRR, Repo Rate, Reverse Repo Rate and SLR?

Cash reserve Ratio (CRR) is the amount of funds that the banks have to keep with RBI. If RBI decides to increase the percent of this, the available amount with the banks comes down. RBI is using this method (increase of CRR rate), to drain out the excessive money(liquidity) from the banks.

Repo rate is the rate at which banks borrow money from RBI. A reduction in the repo rate will help banks to get money at a cheaper rate. When the repo rate increases borrowing from RBI becomes more expensive.

Reverse Repo rate is the rate at which Reserve Bank of India (RBI) borrows money from banks.

SLR (Statutory Liquidity Ratio) is the amount a commercial bank needs to maintain in the form of cash, or gold or govt. approved securities (Bonds) before providing credit to its customers

Some basics that must be understood clearly to have a bright future in banking world.

What are Assets and Liabilities?
Assets represent property or rights to property and liabilities are debts owed to others. Assets and liabilities together determine the wealth of an individual, a firm, or a nation. Individuals, Firms, and Nations have somewhat different assets and liabilities.
An individual's assets might include cash, bank deposits, stocks, rights to future pension payments, and a house and its contents. An individual's liabilities might include, for example, a home mortgage, debt incurred on an object or other personal possessions, or other financial commitments, such as income tax liabilities.

The loan that is taken out to buy a business asset is generally termed as commercial mortgage. Commercial mortgages are used to buy offices, shops, restaurants or other type of (generally) building. But they can also be used to buy other business assets such as plant or machinery.As well as being a useful way of financing the purchase of business premises for a new business, commercial mortgages can also be an excellent way of funding the expansion of an existing business. A commercial mortgage can also be used to fund investment in land or property which will be used for commercial purposes.

Airtel has launched the value added platform 'Sanchar Hat' for the farmers in a Joint Venture with IFFCO.
National Assembly of Bhutan is Gyalyong Tshongdu.
The General CENVAT rate on all goods have been reduced from 16% to 14% in budget 2008-09.the share of Government expenditure on social services, includuing rural development has been 16.42%According to Eco survey 2007-08, FDI, on a gross basis has risen to $ 2 billion in 2006-07.

scientist have found a tree in sweeden which is belived to be 8000 years old and possibly be the oldest living tree in the world.

The Prime minister of Bhutan is Jigmi Y Thinley, president of the Druk Phuensum Tshogpa that has won a landslide victory in the recently held Bhutan's first parliamentary election.

Now a days, we are listening in news constantly that US is undergoing a recession, what actually is a recession? well when the GDP growth is negative for two consecutive quarters, it is said to be in a recession. also we here the word 'Depression' what is Depression? A depression is a severe downturn that remains for several years.

we can say that currently US is in recession. This would have a impact on india as well. In Indian Economy there is a trade deficit that is import of goods is greater than the export of goods. This trade deficit is balanced by th revenues from the service sectors mainly software and IT companies and also from foreign investment.

Now what is happening is that Oil Prices are going upand india being a importer has to spend more on imports resulting in widening of trade deficit. This has led to increased pressure on service sector to balance this trade deficits. Now due to recession, many major financial firms that were using the Indian software has been closed and that has resulted in decline of revenues.

Also, the country that is facing recession has less purchasing power and therefore export to that country also declines.

Markets in India

Market Types most commonly prevailing in the World Economy are Consumer market, Industrial Market, Stock market, Real estate market, Food market, Commodity Market, Financial Market and others.
Market is the social arrangement where exchange of goods and services takes place among the buyers and the sellers.

According to absolute terms of Economics, main Market Types are Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly. But in general, we can find varying types of
markets. This is because, whenever a group of person has preference for a good or service that another group of person can supply, a new market emerges. Among various types of market, Consumer Market is the market of product and services which individuals buy for their personal use. The products of Consumer market are the FMCGs( Fast Moving Consumer Goods), which are high volume but have low unit value; Consumer Durables, which have low
volume but high unit value and the Services for personal care. Industrial market is the market of products and services which are exchanged between businesses. The products which are exchanged in the Industrial market are Finished Goods, Raw Materials and Services such as legal services, accounting services and security services. But the most important fact about markets is that whatever is the market type, all markets are more or less volatile at some or
other point of time and this volatility is very much important for the markets. Due to the volatility of the markets the upward and downward trends emerge which gives rise to good opportunities

News Channel NDTV in association with the Union travel Ministry, launched a special initiative on Aprail 20, 2008 to unravel new landmarks and historical monuments across the country as part of the popular "Incredible India " Campaign.

Why was Danica Patrick in news recently?

She had become the first female winner in IndyCar history on aprail 20, taking the Indy japan 300 after the top contenders were forced to pit for fuel in the final laps. she had won in her 50th career IndyCar start taking the leap from Castroneves on the 198th lap in the 200-lap race.

What is Tamil Nadu Vision 2025?

On Aprail 12, tamil Nadu Vision 2025 was presented in TN Vision Summit organised by Confederation of Indian Industry(CII). it is a 15- minute video and vision document prepared by the CII.Vision 2025 aspires for universal literacy, higher education for 50% of the population, healthcare infrastructure with 2.5 lakh hospital beds, 100% poverty alleviation, installed capacity of 1 lakh MW, quality drinking water at low cost and ten fold increase in income of the farmers.