Wednesday, August 15, 2007

Eliminating Banks

If you hadn't heard of online money lending-borrowing websites then you better read on. After reading about what I'm about to say I'm sure majority of you would think...."how come we never thought of that?!" If online users could exchange goods and services then why not money? Is it truly ground breaking? Visit www.Zopa.com to find out more. I mean if we all have enough money we could all be CEOs of our own banks...albeit with a username on zopa.com :-p

I'm amazed. There is so much to look forward to in life! New ideas, new challenges, new tactics to survive (and kill?)

PS: Happy 60 years of Independence India ! - Your citizen for life

3 comments:

Anonymous said...

wow- that is really cool. 7% returns really not that bad. I wonder about tax implications, though...I suppose it doesn't act as a tax shield...although I don't know if Zopa has to report income/data in the same way as a bank? Any idea? And...just with my brief glance..I am not sure where it's located - India? UK? Need to see where you can live/have bank account to lend. But very interesting

Zingy said...

Tax shield - nope i don't think so. And its most definitely located/operating in UK. And I would think it doesn't yet have to report income/data like a bank...but I can probably find out more. Coz there is an e-bank in singapore which is regulated by MAS www.finatiq.com ...owned 100% by OCBC :)

Anonymous said...

debrief schemas biopharma countrys leaf ncirduser modasa romans integrate itwww calculator
lolikneri havaqatsu