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Telecom Wars bringing Data Prices Down to Rock Bottom – Great times ahead for Mobile users!

September 1, 2016 Leave a comment

After the 80% slashing of data rates by Airtel, the telecom war over tariffs is only going to get fierce with the entry of Reliance, already taking its all favorite market penetration approach, targeting a price of Rs. 43 for a 1GB data plan for 3G.

Service Provider Data Pack Monthly Charges
Vodafone 1GB (3G data) Rs. 297
Idea 1GB (3G data) Rs. 249
BSNL 1GB (3G data) Rs. 198
Airtel 1GB (3G data) Rs. 51
Reliance Jio 1GB (3G data) – 28 days validity Rs. 43  (Target Price)

 

While Vodafone has remained with its high priced model, other telecom service providers have been playing with their rates bringing them down every year. Airtel revised its prices this year slashing down data rates by almost 80% of individual users and by 150% for corporate users. After an initial expenditure of Rs. 1,498 for 1GB data plan, users can enjoy the rate of Rs. 51 per GB after exhausting initial data pack.

Does that make you feel delighted as a mobile user? If yes, then here are some small catches for you –

  • An upfront payment of entire year may be asked giving you an attraction for saving 30-40% more annually on data
  • The validity of data plan is 28 days and not the entire months which means that in an year, you will be buying 13 data packs instead of 12. Same is the story with every telecom service provider.

Despite these catches, you still have a lot of benefit to gain in terms of savings on data plans.

Enters Reliance Jio

No roaming, free night-time surfing, free calls, free messages and rates going to rock bottom prices – what more can a mobile user expect? Reliance Jio is up for making the prices go even lower. An offer of free SIM with 3 months of unlimited data has already created a buzz for Reliance and on the top of it, the target price of Rs. 43 for a 1GB data pack is definitely going to get more subscribers to Reliance. With the current growth in the data volumes utilized by 4G mobile users, a 50% rise is expected in the coming year and this as per Goldman Sachs would convert into an addition of 35 million subscribers for Reliance Jio.

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Beside the tariff cuts, Reliance has also planned to come up with bundled offers like free calling with high value plans. 7 plans are already made available starting from Rs. 149 to Rs. 4999, no stone remains unturned by Reliance for giving opportunities to users to enjoy lowest 4G-LTE rates. No roaming when you shift your circle – Another golden egg that users would be up for a grab – Great times are ahead for Mobile Internet Users!

The Background Story

Mukesh Ambani, the RIL Chairman talks about three pillars on which the tariffs are based –

  1. Pay only for voice or for data
  2. Data should be affordable: Small packs starting from Rs. 149 give you 0.3 G data wth 100 SMSs
  3. Pricing structure should be simple : Small plans give you free SMSs, medium packs lets you access 4G at night and large packs give you free voice calls

jiowelcome

 

Not to forget, for all Jio users, the Jio premium apps like JioPlay, JioOnDemand, JioBeats, JioMags, JioXpressNews, JioDrive, JioSecurity and JioMoney are free for Jio users till December 31, 2017 with access to free voice calls – something called “Jio Welcome Offer” by Reliance. Jio LYF Preview Offer, a trial service that was launched for LYF device users grabbed 1.5 million test users and the trial if further extended now for all LYF users.

If this doesn’t excite you much, there is more you can get from Reliance:

  • Jiofi personal routers available at Rs. 1,999
  • Real time billing details
  • Special rates for students (25% less)
  • LYF Smart Phones made affordable (starting from mere Rs. 2,999)

Besides the offers visible from Reliance, you may also want to take a dive into the network and operations of Reliance that are going to get you all this:

  • Reliance Jio is present in 29 states in India including 18000 urban and rural towns and 1,50,000 villages
  • Jio has around 0.5 million activation outlets and close to 1 million recharge outlets.
  • All Reliance Jio outlets would be connected to 1,072 Jio offices in real time
  • Reliance is already the fifth largest Smartphone seller in India considering shipments figures.

After Reliance Jio takes hold of the market, the obvious response would be further cuts in tariffs from remaining telecom players. Idea Cellular has already set plans to reduce tariffs at the target price of Rs. 155. Vodafone is set to give more data on its existing 3G and 4G data plans. The toughened competition is likely to get more of stories in future and more of considerations for data and smart phone users.

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Categories: Business

Why I don’t want to work in a Bank!

November 7, 2013 Leave a comment

I am a writer and I have been writing for quite a long time now. As every other person on earth, I too have a desire to grow big. So, I keep searching for opportunities every where. In this process of finding options, I came across an opportunity to work for one overseas client but it required me to register myself into PAYPAL as that was the medium for payment.

So I went to Paypal website and found a very easy process:

Step 1: register through Email ID

Step 2: Provide bank details and PAN card number

 They would verify the account and DONE!

I was feeling lucky but I missed that word “BANK” while I was dreaming about working for a US based client very soon.
Injured Piggy Bank WIth Crutches

When I checked my status, the Paypal account said that they have transferred 2 small amounts into my account that I need to enter for verification but unfortunately I could not find any such credits. So I dig deeper.

What I found?

The name in my Bank account was different from the name in my Pan Card (after marriage, it got changed) and I was required to change my Bank name to the name that appeared in PAN so that the Paypal verification could be completed.

Now starts the real story:

I called the customer care of the Bank to find out the process details and they told me that I needed to submit my PAN card and Marriage certificate as proofs. Wow! easy again.

However, when they checked my account, it was found that it was linked with my Demat account ( I had linked it for my convenience)

So bank asked me to first de-link my Demat account from Bank Account after which only they could proceed with the name change.

Reason? Well, Its very simple :  Trading accounts are regulated by SEBI while Bank Accounts are regulated by RBI so whenever there is any alteration required than we need to take care of both regulatory bodies, hence the process.

So, my next destination was Demat service providers Office as it could not be done online. So I went to the nearest office where I found some more information to delay my work:

1. The de-linking process itself would take 4 working days (God forbid if weekend comes in between)

2. The de-link forms were exhausted

 so, the manager asked me to call back to check whenever those forms arrive.

I waited for 4 days, yet the forms were not available and then after 2 more working days in addition to the weekend that fell in between, I got a call that the forms were available. The manager asked me if he can come to my place for my convenience and I agreed.

Form filled, and given to him and then was my turn to resolve some more pending issues in my Demat account:

1. The password of the Internet Trading Account slipped away from my mind

2. I was not very comfortable working with buying and selling options

So, he guided me in generating new password and showed me options to buy and sell. There was again a catch here:  

It was 4 p.m so trading time was over so can neither sell nor buy

While we discussed more about the de-linking and re-linking process, I found another very useful and tiring information:

After I change my name, I cannot re-link the account but I have to close and open a new Demat account.

check-list-300x211

He explained “ Your Bank account name will be changed but the Demat account name will remain same so it could not be linked. If it is not linked to any Bank account then no trading can be done so there is not use of the account. That is why, you need to close the account and then open another if you want to trade. Then link that new account to the bank account again. Alternatively, you can keep the existing account and not de-link but open another bank account in the name you want to have” 

Now my schedule changed again:

 Step 1: I was required to sell off my shares

Step 2: I needed to submit request for closure

That’s it! as I was no more interested in opening another account

However, as I have already mentioned, the trading time was closed so my next step was to wait for next day and then sell my shares, after which I could continue with the closure process.

‘Ah! finally I will be able to do it tomorrow’ I thought. But wait! the guy enlightened me with some more information:

Minimum share cost should be 500 on one company shares in order to sell (and 4 out of 5 of my shares went into losses below 500). So the guy suggested me to first purchase some more shares to balance out the amount and then sell next day using BTST option

He explained “ BTST is Buy Today Sell Tomorrow. In normal process, after purchasing a share, it takes 2 working days before you can sell them but to save traders from risks, this option allows one to purchase on a day and sell next day without waiting for this process

So, the next step was: Use BTST next day so that I can sell shares the day after that and then go to the bank to close Demat account

A little faster option was to try selling low cost shares by paying higher brokerage (He wasn’t very sure if it could be done) and then I would go to the bank for closure.

Next would the application for change of name which would take another few days for processing and finally I would be able to activate my Paypal account.

Good old Days ! I remember the time I used to fight with my Mom when she used to ask me to give exams for Bank jobs and I used to say: “Mom, please, I can’t work in a Bank”

Today, I say it again “I can’t work in a Bank!” If it is so complicated for a customer to get a simple thing done then wonder if I was a Banker (My hair would have changed color by now! ).

Are you an entrepreneur or an employee?

October 3, 2013 1 comment

employee-vs-entrepreneur

Are you an employee or an entrepreneur? This is a question with not so simple answer as you may be thinking. If you are saying that an entrepreneur is the one who works for himself while employee works for others then that is not sufficient as I am not talking about ones occupation but something more important – The MINDSET.

Now think again and then say, are you an employee or an entrepreneur? Are you working on a job but thinking to start something of your own all the time? You are an employee, if you are just excited about the idea but you are an entrepreneur, if you are also building a pipeline.

Do you like to take orders? An employee says, “No, but then I don’t have a choice” but an entrepreneur will just say “I don’t take orders”.

What motivates you? Your dreams or the money you earn? An employee is a dreamer but only a dreamer and entrepreneur is a dreamer with a plan.

Dive deep inside you and you will know where you fit. You may be in a wrong place if you are working for a company with an entrepreneurial mindset. Moreover, if you are running your family business with an employee mindset, you are again doing a mistake.

Is money on your mind all the time? Well, an entrepreneur doesn’t work for money! I know that your response may be – What?? Then why does he start a business?

Let me explain this through analysis of a situation:

An entrepreneur starts a business; a month goes without any profits. What does he do? He works for another month, still no results, another month and another month, he still keeps working. What if one faces the same situation as an employee? What will the employee do? The answer is simple and everyone knows –Employee will QUIT.

The reality is that an entrepreneur works for dreams, for passion and for FREEDOM. He or she may be willing to give away money but not freedom. If he or she has to choose between a job, that is giving 10 lakhs and a business worth only a lakh, he or she would choose later. If you are an employee, you will think – That sounds foolish. No one does that! But to an entrepreneur this will trigger a memory of such time in his or her life.

Money motivates almost everyone and we can’t deny this fact but when an employee says “I want to earn a million in an year” , the entrepreneur says “ I will earn a million by next year. I have a plan and resources. However, there are more resources that I need that I will generate in another 6 months” As I said earlier “Employee is a dreamer but Entrepreneur is a dreamer with a plan”.

What difference can you see in the two answers?

Employee Entrepreneur
Dreams without any intention of achievement Dreams with a plan for every penny he or she may earn
Knows what he or she wants but has no idea about HOW Has a written plan for HOW
Focused on money Focused on actions
No worries if not achieved Going to strive hard till he or she achieves this dream

An entrepreneur doesn’t take orders like any employee but discusses and accepts any suggestion that is useful. If a client says “your work was pathetic” ,an employee may say “That’s how company works. What can I do? Not my fault”. However, the entrepreneur will take that as a feedback, work to solve the problem and approach the customer again with the improvement.

If a boss asks an employee to do something, the employee will do as he or she is instructed. However, if an entrepreneur is asked to do something, he or she will think, analyze, put up suggestions, discuss and then plan the proceedings.

An entrepreneur is a self motivated person, charged with his passion but employee depends on external factors for inspiration. These factors can be positive like salary, promotion, appreciation, recognition, incentives, brand association, employee benefits or negative like targets, reviews, competition, pressures, and security.

However, we may find some people with a mix of two – they are capable of taking decisions but they don’t mind working on others and they are self-motivated but would like a monthly income. Many characteristics of employees as well as entrepreneurs would be found in them.

These are the people we find on top working as Industry or company leaders. By saying this, I am not selling you entrepreneurship. All I want to say is that one must analyze oneself to find which role do they fit in – entrepreneur or employee and to do this run a self check:

EMPLOYEE ENTREPRENEUR

Selling

If a product is faulty, I still sell making fake promises If a product is faulty, I improve on it and then sell
Selling is more important After sales is more important
Getting customers is most important Retaining customers is most important

Motivation

Money, recognition, appreciation, benefits Dreams, passion, vision, mission, ideas
Targets, reviews, stress, competition Sales decline, customer complaint

Relationship with customers

Temporary till you are working with them Stays for life

Target achievement

Your juniors responsibility Your responsibility
If not achieved, it is companies loss If not achieved, my loss

Risk

Risk averse Risk taker

Learning

Not more than what you need in job No learning is waste
Learn from mistakes Learn from other’s mistakes

Passion

Is a hobby Is life
Good to do Can’t live without

People

Workers Assets
Good to talk to Can learn from them

Leisure time

Search for new ideas Forget about business
Get inspired Chill and enjoy

Before ending this writing process, I would like to mention one more thing. An entrepreneur stuck between employees is highly likely to get irritated while an employee struck between entrepreneurs is highly likely to get bored.

Neither of the options is wrong but needs different skills and point of views. So choose for yourself, one way depending on your MIINDSET!

 

 

The Author of this blog is Pooja Dubey Srivastava. To know more about her work, please visit her business website www.dailystoryspider.com