What does calculation of Interest on daily product basis mean ?

RBI has instructed on Payment of interest on Saving Bank Account on a Daily Product Basis with effect from 1st April 2010.

A quick info byte on the meaning of "Daily Product Basis Interest Calculation"

As we know that the interest is calculated based on the minimum balance held in the account from the 10th of each month to the last day of that month.

So, if a bank customer has Rs 1 lakh in his savings account one day and then Rs 100 another day, the minimum balance taken for calculation of interest in the period would be Rs 100. But, from April 1, 2010, the interest paid on the savings account will be based on the daily minimum balance. Now even the Rs 1 lakh balance in the savings account will earn the customer interest for the number of days it was in the Savings account. Based on this process your savings bank account may start earning more interest from 10th April 2010.

Endearing last day email quotes sent by one of our senior in office

1. Work as hard as you can to make yourself proud of your own accomplishments. In the end, what you think of yourself is what really matters.

2. Learn at least one new thing every day.

3. Donuts are good... but be careful not to eat too many or you may wake up one morning realizing that you look like one.

4. Do something during your career which you are not comfortable doing. You won't regret it.

5. Change is good. Do you really want every day of your life to be the same?

6. Yes you can decorate your cubicle with used auto parts.

7. Laughter and music are two wonders of being human. Don't be afraid to look at the lighter side of things. Stand up in your cube and sing a song. Get together in a conference room and jam.

8. If someone helps you with something, say thank you.

9. Certain e-mails should be written, saved in your draft folder and then deleted without anyone ever seeing them. See number 7 to see what to do before hitting the send key.

10. Don't try to explain to your kids what you do. Especially if you work on something called ****. They won't understand. Lie and tell them you are a Navy Seal.

Wise thoughts shared by a senior in our office

This excerpt reveals a university commencement address several years ago, Brian Dyson, CEO of Coca Cola Enterprises, who spoke of the relation of work to one's other commitments. Strive for balance in your life with work, family, health, friends and spirit.

Imagine life as a game in which you are juggling some five balls in the air. You name them - Work, Family, Health, Friends, and Spirit -and you're keeping all of these in the air. You will soon understand that Work is a rubber ball. If you drop it, it will bounce back. But the other four balls - Family, Health, Friends, and Spirit - are made of glass. If you drop one of these, they will be irrevocably scuffed, marked, damaged, or even shattered. They will never be the same. You must understand that and strive for balance in your life.

How?

• Don't undermine your worth by comparing yourself to others. It is because we are different that each of us is special.

• Don't set your goals by what other people deem important. Only you know what is best for you.

• Don't take for granted the things closest to your heart. Cling to them as you would your life, for without them, life is meaningless.

• Don't let your life slip through your fingers by living in the past or for the future. By living your life one day at a time, you live ALL the days of your life.

• Don't give up when you still have something to give. Nothing is really over until the moment you stop trying.

• Don't be afraid to admit that you are less than perfect. It is this fragile thread that binds us to each other.

• Don't be afraid to encounter risks. It is by taking chances that we learn how to be brave.

• Don't shut love out of your life by saying it's impossible to find. The quickest way to receive love is to give; the fastest way to lose love is to hold it too tightly; and the best way to keep love is to give it wings.

• Don't run through life so fast that you forget, not only where you've been, but also where you are going. Don't forget that a person's greatest emotional need is to feel appreciated.

• Don't be afraid to learn. Knowledge is weightless, a treasure you always carry easily.

• Don't use time or words carelessly. Neither can be retrieved.

Life is not a race, but a journey to be savored each step of the way. Yesterday is History, Tomorrow is a Mystery, and Today is a gift. That's why we call it The Present.