Revised Model Educational Loan Scheme for Pursuing Higher Studies in India and Abroad

Revised Model Educational Loan Scheme for Pursuing Higher Studies in India and Abroad
- Prepared by Indian Bank's Association

Introduction:

Education is central to the Human Resources Development and empowerment in any country. National and State level policies are framed to ensure that this basic need of the population is met through appropriate public and private sector initiatives. While government endeavour to provide primary education to all on a universal basis, higher education is progressively moving into the domain of private sector. With a gradual reduction in government subsidies higher education is getting more and more costly and hence the need for institutional funding in this area.

The scope of education has widened both in India and abroad covering new courses in diversified areas. Development of human capital is a national priority and it should be the endeavour of all that no deserving student is denied opportunity to pursue higher education for want of financial support. Loans for education should be seen as an investment for economic development and prosperity. Knowledge and information would be the driving force for economic growth in the coming years.

The Salient Features of the Scheme are as under:

Objectives of the Scheme :	The Educational Loan Scheme outlined below aims at providing financial support from the banking system to deserving/ meritorious students for pursuing higher education in India and abroad. The main emphasis is that every meritorious student though poor is provided with an opportunity to pursue education with the financial support from the banking system with affordable terms and conditions. No deserving student is denied an opportunity to pursue higher education for want of financial support.
Applicability of the Scheme :	The scheme provides broad guidelines to the banks for operationalising the educational loan scheme and the implementing bank will have the discretion to make changes suiting to the convenience of the students/ parents to make it more customer friendly.
Student eligibility:	Should be an Indian National. Secured admission to professional/ technical courses in India or Abroad through Entrance Test/ Merit Based Selection process.
Courses eligible	a. Studies in India: (Indicative list) · Graduation courses : BA, B.Com., B.Sc., etc. · Post Graduation courses : Masters & Phd. · Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc. · Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university. · Courses like ICWA, CA, CFA etc. · Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc. · Regular Degree/Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation/Shipping, if the course is pursued in India. In case the course is pursued abroad, the Institute should be recognized by the competent local aviation/shipping authority. · Courses offered in India by reputed foreign universities. · Evening courses of approved institutes. · Other courses leading to diploma/ degree etc. conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc. · Courses offered by National Institutes and other reputed private institutions. Banks may have the system of appraising other institution courses depending on future prospects/ recognition by user institutions. · Courses, which are not covered under the criteria mentioned above, individual banks may take a view to consider extending. · education loan under the scheme taking into account the future prospects/recognition by user institution. b. Studies abroad :- · Graduation : For job oriented professional/ technical. · courses offered by reputed universities. · Post graduation: MCA, MBA, MS, etc. · Courses conducted by CIMA- London, CPA in USA etc.
Expenses considered for loan	· Fee payable to college/ school/ hostel. · Examination/ Library/ Laboratory fee. · Purchase of books/ equipments/ instruments/ uniforms. · Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts, subject to the condition that the amount does not exceed 10% of the total tuition fees for the entire course. · Travel expenses/ passage money for studies abroad. · Purchase of computers - essential for completion of the course. · Insurance premium for student borrower. · Any other expense required to complete the course - like study tours, project work, thesis, etc.
Quantum of Finance	Need based finance subject to repaying capacity of the parents/ students with margin and the following ceilings. Studies in India - Maximum Rs.10.00 lacs. Studies abroad - Maximum Rs.20 lacs
Margin	Studies in India Upto Rs 4 lacs Nil Above Rs. 4 lacs : Studies in India 5% Studies Abroad 15% Scholarship/ assistantship to be included in margin. Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis.
Security	Upto Rs 4 lacs Co-obligation of parents. No security Above Rs.4 lacs and upto Rs7.5 lakhs Co-obligation of parents together with collateral security in the form of suitable third party guarantee. The bank may, at its discretion, in exceptional cases, waive third party guarantee if satisfied with the net-worth / means of parent/s who would be executing the document as "joint borrower". Above Rs.7.5 lakhs Co-obligation of parents together with tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments Note:- · The loan documents should be executed by both the student and the parent/ guardian as joint-borrower. · The security can be in the form of land/ building/ Govt. securities/ Public Sector Bonds/Units of UTI, NSC, KVP, life policy, gold, shares/mutual fund units/debentures, bank deposit in the name of student/ parent/ guardian or any other third party with suitable margin. · Wherever the land/ building is already mortgaged, the unencumbered portion can be taken as security on second charge basis provided it covers the required loan amount. · In case the loan is given for purchase of computer, the computer has to be hypothecated to the Bank.
Rate of Interest	Upto Rs 4 lacs BPLR Above Rs. 4 lacs BPLR + 1% Simple interest to be charged during the Repayment holiday/ Moratorium period. Penal interest to be charged as applicable to individual banks.
Appraisal/ Sanction/ Disbursement	In the normal course, while appraising the loan the future income prospects of the student will be looked into. However, where required, the means of parent / guardian could also be taken into account to evaluate re-payment capability. The loan to be sanctioned as per delegation of powers preferably by the Branch nearest to the place of residence of parents. No application for educational loan received should be rejected without the concurrence of the next higher authority. The loan to be disbursed in stages as per the requirement/ demand directly to the Institutions/ Vendors of books/ equipments/ instruments to the extent possible.
Repayment	Repayment holiday/ Moratorium : Course period + 1 year or 6 months after getting job, whichever is earlier. The loan to be repaid in 5-7 years after commencement of repayment. If the student is not able to complete the course within the scheduled time, extension of time for completion of course may be permitted for a maximum period of 2 years. If the student is not able to complete the course for reasons beyond his control, sanctioning authority may at his discretion consider such extensions as may be deemed necessary to complete the course. The accrued interest during the repayment holiday period to be added to the principal and repayment in Equated Monthly Instalments (EMI) fixed. 1% interest concession may be provided for loanees if the interest is serviced during the study period when repayment holiday is specified for interest/ repayment under the scheme.
Insurance	Banks may arrange for life insurance policy on the students availing Educational Loan. Individual Banks may work out the modalities with insurance companies
Follow up/ Tracking	Banks to contact college/ university authorities to send the progress report to the bank at regular intervals in respect of students who have availed loans. In case of studies abroad, bank may obtain the Unique Identification Number (UIN)/Identity Card and note the same in the bank's records.
Processing Charges	No processing/ upfront charges may be collected on educational loans for studies in India.
Capability Certificate	Banks can also issue the capability certificate for students going abroad for higher studies. For this purpose financial and other supporting documents may be obtained from applicant, if required. Some of the foreign universities require the students to submit a certificate from their bankers about the sponsors' solvency/ financial capability, with a view to ensure that the sponsors of the students going abroad for higher studies are capable of meeting the expenses till completion of studies.)
Other Conditions	a. Meritorious Students Banks which wish to support highly and exceptionally meritorious/ deserving students without security may delegate such powers to a fairly higher level authority. b. Multiple Loans In case of receipt of application for more than one loan for student borrower from a family, the 'family' as a unit has to be taken into account for considering the loan and security taken in relation to the total quantum of finance disbursed, subject to margin and repaying capacity of the parent/student. c. Minimum Age There is no specific restriction with regard to the age of the student to be eligible for education loan. d. Change of Address In cases of student staying with parents and where such parents have transferable jobs or there is change in address, the bank may provide in the system of noting the "address for correspondence" for tracking purpose. e. Top up loans Banks may consider top up loans to students pursuing further studies within the overall eligibility limit, with appropriate re-schedulement, subject to taking required security. f. Co-obligator The co-obligator should be parent(s)/guardian of the student borrower. In case of married person, co-obligator can be either spouse or the parent(s)/parents-in-law. No Due Certificate No due certificate need not be insisted upon as a pre-condition for considering educational loan. However, banks may obtain a declaration/ an affidavit confirming that no loans are availed from other banks. Disposal of Applications Loan applications have to be disposed of within a period of 15 days to 1 month, but not exceeding the time norms stipulated for disposing of loan applications under priority sector lending. Flexibility in terms In order to bring flexibility in terms like eligibility, margin, security norms, banks may consider relaxation in the norms on a case-to-case basis delegating the powers to a fairly higher level authority.
Tax benefits	Deduction is available under section 80E of Income Tax Act for any amount paid in the previous year by an assessee out of his income chargeable to tax, by way of interest on loan taken by him from any financial institution or any approved charitable institution for the purpose of pursuing his higher education or for the purpose of higher education of his relative (spouse and children).
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Public Provident Fund (PPF ) Account

Investment in Public Provident Fund (PPF) Accounts is a favorite tax saving option in view of the following :

· Deposits made in PPF accounts, Upto a maximum of Rs. 70,000/- (1,00,000/- w.e.f. 1st December 2011) per annum are eligible for relief under section 80C of Income Tax Act.

· Interest earned on deposits in PPF accounts is exempt from Income Tax.

· The entire balance in a PPF account is exempt from Weath Tax.

· The balance in a PPF cannot be attached under a court decree.

PPF accounts can be opened at designated branches of State Bank of India and its associate banks, all Head Post Offices and other designated Post Offices and at designated branches of other nationalized banks.

Changes in the scheme w.e.f. 1st December 2011

· The ceiling of deposit in the account increased from Rs. 70,000 per annum to Rs. 1 lac per annum.

· The rate of interest under the scheme increased from 8% per annum to 8.60% per annum.

· The interest on loan amount increased from 1% to 2% per annum.

Salient features of PPF accounts ....

Who can open?	Any adult on his / her name or on minor's name in the capacity of guardian of the minor.
Minimum amount	Rs. 500/- per annum is required to be deposited. The accounts in which deposits are not made for any reason are treated as discontinued accounts and such accounts cannot be closed before maturity. The discontinued account can be activated by payment of the minimum deposit of Rs.500/- with default fee of Rs.50/- for each defaulted year.
Maximum amount	Rs. 70,000/- per annum. The ceiling has been enhanced to Rs. 1 lac w.e.f. 1st December 2011.) The depositor has flexibility and freedom for depositing any amount in a maximum 12 installments in a financial year.
Maturity period	15 years. An Account, on the expiry of fifteen years, can be extended for a further period of five years at a time.
Interest Rate	The interest is paid as per the rates declared by the Government from time to time. The current rate is 8% per annum. The interest rate increase to 8.6% per annum on balance to the credit of the account holder shall be 8.60% per annum. The interest is compounded annually. The interest for the month is calculated on the minimum balance available in the account from 5th of a month to the last date of the month.
Nomination facility	Available
Transferability	A PPF account can be transferred from a branch of State Bank of India or a nationalized bank to Post Office and vice versa and also from a branch of State Bank of India to a designated branch of Nationalized Bank. A PPF account cannot be transferred from one person to another. Even in the case of death of a depositor, the nominee cannot continue the account.
Loan facility	A depositor can avail of loan facility in the third financial year from the financial year in which the account was opened. Application in prescribed form is to be made for loan along with the pass book of the account. In case, the loan is sought from minor's Account, the guardian has to make a declaration that the money is required for the use/benefit of the minor. The loan can be taken up to 25% of the amount in the account at the end of the second year immediately preceding the year in which the loan is applied for. The loan is repayable in lump sum or convenient installments. Where loan is repaid within 36 months, interest is charged at 1% (2% w.e.f. 1st December 2011) and if it is not repaid within 36 months, the interest at the rate of 6% is charged on the outstanding balance. The interest is to be paid in not more than two installments after the loan amount is fully repaid. Once the first loan is repaid, second loan can be obtained on same terms. This facility is available till the end of 5th financial year from the end of the financial year in which initial subscription was made.
Withdrawal facility	A depositor can make partial withdrawals, once every year from his PPF account after expiry of five years, from the end of Financial Year, in which the initial deposit was made. Application in prescribed form is to be made for withdrawal along with the pass book of the account. In case, the withdrawal is sought from minor's Account, the guardian has to make a declaration that the money is required for the use/benefit of the minor. The amount of withdrawal is restricted to 50% of the credit balance at the end of the fourth year immediately preceding the year of withdrawal or the year immediately preceding the year of withdrawal, whichever is lower. In case of accounts extended beyond Maturity period partial withdrawals are allowed once in a year with the condition that the amount of withdrawal during a five year block period should not exceed 60% of the balance in the account at the commencement of the block period.
Premature Encashment	Premature closure of a PPF Account is not permissible except in the case of death of the depositor.
Deduction u/s 80C	Available
Interest Taxability	Interest income is totally tax free.
Other features	The benefits of exemption of interest from Income Tax is not available on deposits made in a PPF account after expiry of fifteen years without exercising option in writing for continuance of the account within one year. PPF accounts can be opened and operated through an authorized agent appointed by the National Savings Organisation. Only local cheques are accepted for deposit and the date of presentation of local cheque and demand draft is treated as date of deposit in the Account. Balance in PPF account cannot be attached under court decree. Entire deposit in a PPF account is exempt from the Wealth Tax. The deposit in a minor account is clubbed with the deposit of the account of the guardian for the limit of Rs.70,000/- (1,00,000/- w.e.f. 1st December 2011). On death of the account holder his nominee(s)/legal heir(s) cannot continue the account. The account has to be closed in such case. Deposits in excess of Rs.70,000/- (1,00,000/- w.e.f. 1st December 2011) in a financial year in a PPF account are refunded without interest and the excess amount is not considered for income tax rebate.
Agency Commission	Discontinued w.e.f. 1st December 2011.

Basic Input Output System (BIOS)

The BIOS is a special software usually stored on a Flash memory chip on the motherboard. It is used by the microprocessor (processor) to get the computer system started after it is turned on. It also manages data flow between the computer's operating system and attached devices such as the hard disk, video adapter, keyboard, mouse, printer etc. When BIOS boots up (starts up) the computer, it first determines whether all of the attachments are in place and operational and then it loads the operating system (or key parts of it) into the computer's random access memory (RAM) from hard disk or diskette drive.

The BIOS uses CMOS (Complementary Metal Oxide Semiconductor) technology to save any changes made to the computer's settings. A small lithium or Ni-Cad cell, installed on the motherboard, supplies power to keep the data for years. To enter the CMOS Setup for altering custom settings of a computer, a certain key during the initial start up sequence is required to be pressed. Most systems use "Del," or "F1," keys to enter CMOS setup.

On entering CMOS setup, a text menu screen, the contents of which are different for different BIOS manufacturers, is displayed. The menu screen provides links for opening pages for changing various BIOS settings of the computer. These menus enable change of the following

• System Time/Date
• Drive Configuration
• Boot Sequence - setting the order of boot devices;
• Plug and Play;
• Integrated peripherals;
• Advanced chipset features;
• Setting password for computer access;
• Power Management etc.

The changes to CMOS setup must be made very carefully. Incorrect settings may stop the computer from booting.

Sources:www.sapost.blogspot.com

LITTLE DROPS MAKE A GREAT OCEAN

Dear all

Greetings

I got this mail from one of my collegue...hope the information in this mail is surely trustworthy of sparing your valuable time..... Please read it completely ....

YOU CAN MAKE A HUGE DIFFERENCE TO THE INDIAN ECONOMY BY FOLLOWING FEW SIMPLE STEPS:- Please spare a couple of minutes here for the sake of India. I got this article from one of my friends, but it's true. I can see this in day to day life. Here's a small example:- Before 12 months 1 US $ = IND Rs 39 After 12 months, now 1 $ = IND Rs 52 Do you think US Economy is booming? No, but Indian Economy is Going Down. Our economy is in your hands.... INDIAN economy is in a crisis. Our country like many other ASIAN countries, is undergoing a severe economic crunch. Many INDIAN industries are closing down. The INDIAN economy is in a crisis and if we do not take proper steps to control those, we will be in a critical situation. More than 30,000 crore rupees of foreign exchange are being siphoned out of our country on products such as cosmetics, snacks, tea, beverages, etc... which are grown, produced and consumed here. A cold drink that costs only 70 / 80 paisa to produce, is sold for Rs.9 and a major chunk of profits from these are sent abroad. This is a serious drain on INDIAN economy. We have nothing against Multinational companies, but to protect our own interestsm we request everybody to use INDIAN products only atleast for the next two years. With the rise in petrol prices, if we do not do this, the Rupee will devalue further and we will end up paying much more for the same products in the near future. What you can do about it? 1. Buy only products manufactured by WHOLLY INDIAN COMPANIES. 2. ENROLL as many people as possible for this cause.-.... Each individual should become a leader for this awareness. This is the only way to save our country from severe economic crisis. You don't need to give-up your lifestyle. You just need to choose an alternate product. All categories of products are available from WHOLLY INDIAN COMPANIES. LIST OF PRODUCTS COLD DRINKS:- DRINK LEMON JUICE, FRESH FRUIT JUICES, CHILLED LASSI (SWEET OR SOUR), BUTTER MILK, COCONUT WATER, JAL JEERA, ENERJEE, and MASALA MILK... BATHING SOAP:- USE CINTHOL & OTHER GODREJ BRANDS, SANTOOR, WIPRO SHIKAKAI, MYSORE SANDAL, MARGO, NEEM, EVITA, MEDIMIX, GANGA , NIRMA BATH & CHANDRIKA TOOTH PASTE:- USE NEEM, BABOOL, PROMISE, VICO VAJRADANTI, PRUDENT, DABUR PRODUCTS, MISWAK TOOTH BRUSH: - USE PRUDENT, AJANTA , PROMISE SHAVING CREAM:- USE GODREJ, EMAMI BLADE:- USE SUPERMAX, TOPAZ, LAZER, ASHOKA TALCUM POWDER:- USE SANTOOR, GOKUL, CINTHOL, WIPRO BABY POWDER, BOROPLUS MILK POWDER:- USE INDIANA, AMUL, AMULYA SHAMPOO:- USE LAKME, NIRMA, VELVETTE MOBILE CONNECTIONS:- USE BSNL, AIRTEL Food Items:- Eat Tandoori chicken, Vada Pav, Idli, Dosa, Puri, Uppuma Every INDIAN product you buy makes a big difference. It saves INDIA. Let us take a firm decision today. BUY INDIAN TO BE INDIAN - We are not against of foreign products. WE ARE NOT ANTI-MULTINATIONAL. WE ARE TRYING TO SAVE OUR NATION. EVERY DAY IS A STRUGGLE FOR A REAL FREEDOM. WE ACHIEVED OUR INDEPENDENCE AFTER LOSING MANY LIVES.THEY DIED PAINFULLY TO ENSURE THAT WE LIVE PEACEFULLY. THE CURRENT TREND IS VERY THREATENING. MULTINATIONALS CALL IT GLOBALIZATION OF INDIAN ECONOMY. FOR INDIANS LIKE YOU AND ME, IT IS RE-COLONIZATION OF INDIA. THE COLONISTS LEFT INDIA THEN. BUT THIS TIME, THEY WILL MAKE SURE THEY DON'T MAKE ANY MISTAKES. WHO WOULD LIKE TO LET A "GOOSE THAT LAYS GOLDEN EGGS" SLIP AWAY? PLEASE REMEMBER- POLITICAL FREEDOM IS USELESS WITHOUT ECONOMIC INDEPENDENCE RUSSIA, S.KOREA, MEXICO - THE LIST IS VERY LONG!! LET US LEARN FROM THEIR EXPERIENCE AND FROM OUR HISTORY.LET US DO THE DUTY OF EVERY TRUE INDIAN. FINALLY, IT'S OBVIOUS THAT YOU CAN'T GIVE UP ALL OF THE ITEMS MENTIONED ABOVE. SO GIVE UP AT LEAST ONE ITEM FOR THE SAKE OF OUR COUNTRY! We would be sending useless forwards to our friends daily. Instead, please forward this mail to all your friends to create awareness. "LITTLE DROPS MAKE A GREAT OCEAN." PLEASE TRY TO USE AN INDIAN PRODUCT TO PROTECT OUR INDIAN ECONOMY..... JAIHIND

Fifteen Greatest Invention

1. World First Digital Camera (1975): Created by Kodak's engineer Steve Sasson In December 1975, Kodak engineer Steve Sasson invented something that would, decades later, revolutionize photography: the world’s first digital camera. It was the size of a toaster, and captured black and white images at a resolution of 100×100 - or 0.01 megapixels in today’s marketing terminology. The images were stored on cassette tape, taking 23 seconds to write. The camera uses an ADC from Motorola, a bog-standard (for the 1970s) lens from a Kodak movie camera, and a CCD chip from Fairchild Semiconductor - the same technology that digital cameras still use today. To playback the images, a special computer and tape reader setup (pictured below) was built, outputting the grainy images on a standard TV. It took a further 23 seconds to read each image from tape

2. World's First Motel (1925): Motel Inn Motel Inn in San Luis Obispo, California, is the world’s first motel. It was built in 1925 by LA architect Arthur Heineman, who coined the term motel meaning "motor hotel." Motel Inn was originally called the Milestone Mo-Tel. Back then, one night stay was $1.25. Heineman couldn’t afford the trademark registration fee, so his competitors were able to use the word "motel." The motel is still in operation today.

3. World's First Album Cover (1938): Smash Song Hits by Rodgers and Hart Before Alex Steinweiss, then a 23-year-old designer, invented album covers in 1938 for Columbia Records, albums were sold in plain brown wrappers. The album "Smash Song Hits by Rodgers and Hart" was the very first album cover in the world.

4. World's First Novel (1007): Tale of Genji More than a thousend years ago, on 1007, a Japanese court lady put the finishing touches on what is considered the world's first novel. Spanning 75 years, more than 350 characters, and brimming with romantic poems, the "Tale of Genji" tells the story of an emperor's son, his quest for love, and the many women he meets along the way. It is attributed to the Japanese noblewoman Murasaki Shikibu

5. World's First Web Server and Web Site (1990): a NeXT computer at CERN Info.cern.ch was the address of the world's first-ever web site and web server, running on a NeXT computer at CERN. The first web page address was http://info. cern.ch/hypertex t/WWW/TheProject .html, made by Tim Berners-Lee.

6. World's First Motorcycle (1885): Daimler's "riding car" The First Motorcycle was designed and built by the German inventors Gottlieb Daimler and Wilhelm Maybach in Bad Cannstatt (Stuttgart) in 1885. It was essentially a motorised bicycle, although the inventors called their invention the Reitwagen ("riding car"). It was also the first petroleum-powered vehicle.

7. World's First X-Ray (1895): Röntgen's wife hand In 1895 Wilhelm Conrad Röntgen, professor of physics the University of Wurburg in Germany, was doing experiments with electrical discharges in evacuated glass tubes. Late in 1895 Wilhelm Röntgen was alone at night doing his experiments, this time in the dark and noticed a glow was produced on the wall, which he knew was not caused by fluorescence or visible light. He named these new, unidentified rays 'X' or if you prefer; X-rays. After several months of playing with his discovery he noticed that objects place in the path of the rays cast shadows and created images on the wall. Soon after he used a photographic plate and had his wife, Frau Röntgen, place her hand in the path of the X-rays, creating the world's first X-ray picture. In 1901 Wilhelm Röntgen was awarded the very first Nobel Prize in Physics for this discovery.

8. World's First Computer Mouse (1964): by Douglas Engelbart The world's first computer mouse was made by Douglas Engelbart in 1964, it consisted of two gear-wheels positioned perpendicular to each other -- allowing movement on one axis. Ergonomic shape, great button placement -- and it's made of wood.

9. World's First Skyscraper (1885): Home Insurance Building in Chicago Considered to be the first skyscraper in the world due to the building's unique architecture and unique weight bearing frame, the Home Insurance Building was built in 1885 in Chicago, Illinois and demolished in 1931 to make way for the Field Building (now the LaSalle National Bank Building). It was the first building to use structural steel in its frame, but the majority of its structure was composed of cast and wrought iron. It was the first tall building to be supported, both inside and outside, by a fireproof metal frame. It had 10 stories and rose to a height of 138 feet (42 m) high.

10. World's First Concept Car (1938): Buick Y-Job Designed in 1938 by the famous General Motors designer Harley Earl, the Buick Y-Job is considered by most to be the first concept car. The car had power-operated hidden headlamps, "gunsight" hood ornament, wraparound bumpers, flush door handles, and prefigured styling cues used by Buick until the 1950s.

11. World's First MP3 Player (1998): MPMan 32MB Released in 1998, the Eiger Labs MPMan was the world's first MP3 player, boasting 32MB of internal memory -- expandable to 64MB. Available in F10 or F20 models, the latter boasting SmartMedia compatibility, this player set you back a mere $69 + shipping. It measures a slim 91 x 70 x 16.5 mm

12. World's First Crossword (1913): Arthur Wynne's Invention In 1913, Arthur Wynne had the job of devising the weekly puzzle page for Fun, the eight-page comic section of the New York World, a major newspaper of the time. When he devised what he called a Word-cross for the Christmas edition, published on 21 December, he could have no idea that he would be starting a worldwide craze.

13. World's First Microprocessor (1971): Intel 4004 In November, 1971, a company called Intel publicly introduced the world's first single chip microprocessor, the Intel 4004 (U.S. Patent #3,821,715), invented by Intel engineers Federico Faggin, Ted Hoff, and Stan Mazor. After the invention of integrated circuits revolutionized computer design, the only place to go was down -- in size that is. The Intel 4004 chip took the integrated circuit down one step further by placing all the parts that made a computer think (i.e. central processing unit, memory, input and output controls) on one small chip. Programming intelligence into inanimate objects had now become possible.

14. World's First Magazine (1731): The Gentleman's Magazine The Gentleman's Magazine, first published in 1731, in London, is considered to have been the first magazine. Edward Cave, who edited The Gentleman's Magazine under the pen name "Sylvanus Urban", was the first to use the term "magazine", on the analogy of a military storehouse of varied materiel, originally derived from the Arabic makazin "storehouses" . It ceased publication in September, 1907.

15. World's First Photograph (1826): "View from the Window at Le Gras" Centuries of advances in chemistry and optics, including the invention of the camera obscura, set the stage for the world’s first photograph. In 1826, French scientist Joseph Nicéphore Niépce, took that photograph, titled View from the Window at Le Gras at his family’s country home. Niépce produced his photo—a view of a courtyard and outbuildings seen from the house’s upstairs window—by exposing a bitumen-coated plate in a camera obscura for several hours on his windowsill

Collected by S Jayachandran , SA, Divisional Office , Mavelikara -690101