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January 2017

INTERESTING TIPS WHILE APPLYING FOR EDUCATIONAL LOANS IN INDIA

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  • MoneyMindz.com India's First Free Online / On-call Financial Advisory
  • MoneyMindz.com India's First Free Online / On-call Financial Advisory

Your life becomes incomplete, without proper education. You need to take up admission to various normal/professional colleges in India. Many banks/financial institutions are available in India, offering quality educational loans at reasonable rates in India.

Cost of educational courses, professional courses, programs are increasing day by day. Everybody cannot afford good educational courses from various colleges in India. The role of educational loans has increased considerably, as it plays a vital role in certain aspects. They are

èTaking a course costing too much at an educational institution.

èPursuing higher education in India/Abroad

èPerson belonging to a not financially well to do family.       

Here Are Some Ways Available To Get Hassle Free Educational Loans In India:

Zero In On Loan Amount: The student/candidate must zero in on the amount that she/he can pay. Furthermore, one must also see the loan amount that can be borrowed from the bank.

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Investigate on Interest Rates: One must do a detailed research on the rate of interest towards the educational loans, taken in India. Ideally, taking educational loan for long duration is good. Longer educational loans, rate of interest and EMI (Easy Monthly Instalments) is also reasonable in nature.

Loan from the government banks: If you take educational loan from government bank, under Section 80-E comes with various tax benefits. This prevents unnecessary pressure on the person in taking up the educational loans in India.

Payments On Time: A genuine customer taking educational loan will always make the payment on time. However, if you default on making payment, then it goes against the credit history of the person. So, educational loan encourages an individual to be punctual in clearing loans.

Keep Loan Copies: All students must keep a clean record of educational loan copies, for future correspondences.

Check Eligibility Criterions: You must check relevant eligibility criterions before applying for the educational loans in India like:

ÜIndians between 18 yrs to 30 years pursuing various courses.

ÜCollateral security for loans above INR 7.5 Lakhs.

ÜDetail of co-applicant required could be parent, distant relative, wife and others.

ÜCollege, where you apply for admission must be approved by government.

Taking Maximum Amount:  Please make sure that you get the maximum benefits, before taking the loans. Things like the cost of living, tuition fees, cost of books, travelling expense, course fees, and other miscellaneous expense must be covered.

Processing Charges: One must take into account various kinds of processing charges relating to educational loans.

Check Repayment Capacity: You applied for the loan and after taking loan, major task is to clear the loan. Check the duration, where in you need to clear the loan to avoid any extra/unwanted charges.

Coverage Of Educational Loans In India:
Most of the educational loans in India would consist of:

èExam Fees

èLibrary Fees

èTravelling Expenses

èRepayment period

èBook fees

èEquipment Fees

èTax exemption

èMiscellaneous Expenses

So, you must analyse all the factors in a systematic manner before selecting a good educational loan in India.

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SUPERIOR FINANCIAL OPTIONS FOR LAUNCHING THE START UP BUSINESS 

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India is a land of tremendous opportunities. This nation has grown by leaps and bounds, ever since obtaining independence in 1947. We are showing lot of improvement in various fields. Talking about economic growth and development, five year plans have been playing a pivotal role in development of Indian economy.

Finance is the major part of any business and people from various walks of life apply for jobs in various business enterprise. However, few lucky ones get into regular 9am to 5pm jobs. Not to worry, those who are not able to get good company oriented jobs, they go in for the establishment of their own business. This is known as start ups.

Moneymindz is equipped with finest personalised financial advisers offering quality advice in financial matters.

The business growing up with limited capital and manpower is known as start up companies. India is a base for various start up companies present and do require lot of finance to manage one in a systematic manner. 

Popular Ways To Fund the Start Ups In India are:

Family and Friends: Friends and family play a pivotal role in providing strength/motivation/power for an individual to set up start ups. They play a vital role in setting up a commanding company base in India.

Bootstrapping:  A unique business term, where in one can start business without any external assistance. Most of them prefer starting business on their own as it helps in raising money.

Funding Websites:  The existence of various websites raise lot of money for the development of various companies in India. Furthermore, it also helps in problem resolution regarding financial issues in a logical fashion. 

Impact Investors: These classes of people are traditionally very rich and invest in any organization. They do not mind in investing in the start up companies, where returns will be very less. 

Investors:     People who are very rich and offering the financial assistance for establishment of business start ups/companies/enterprises in a systematic manner. These people are traditionally rich and might claim ownership.

Bank Loans: Various banks are set up in India offering loans at attractive interest rates in India. They have got financial expertise and offer loan with security/loans without security as well.

Accelerators: There are lot of establishments acting as the mentors, guides, leaders, finance coaches, playing a unique role in offering assistance to start companies in India. They offer financial /non financial assistance to owners, of the new start ups in India. They work for a fixed duration and time and make sure that the start up grow and develop in a systematic and satisfactory manner.

 

So, like others, are you going to run behind a bank for loans or be unique and take bold steps for creating a start up In India? I leave this question to readers.

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SUPER TEN FINANCIAL DOCTRINES FOR SMOOTH RETIREMENT PLANNING

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Retirement is one of the major concepts of our lives in India. Consider a situation that you are working for a company, and earning lot of rupees. After showing your loyalty to the company for many years, a final day will come when the sun sets on you.

Yes, I am talking about the retirement planning. It is very difficult for a person, working in an organisation to digest the fact that you are going to retire. The need for a spectacular financial plan to have a retirement planning for a citizen of India has gained importance in the recent times.  The family structure has changed considerably in India, where in era of joint family system has changed and now we are having the nuclear family set up in India. 

 

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èBest Retirement Plan: Selection of a correct retirement plan is vital for people going for investments. You must start planning        for retirement, the moment you start earning the money.It helps you to select in on a good retirement plan. 

 

èSave From Taxes: The retirement plan that you choose must be good and save you from tax net. You must also know fact that understanding income tax rules, helps you to overcome the income tax liability and create more money. 

èDo Not Forget Inflations: Cost of the essential commodities has increased considerably. This play a pivotal role in selecting proper retirement plans in India. Medical costs are very high, and hence your retirement plan must be able to bear expenses in a systematic manner. 

èLife Expectancy: You must have a clear idea, about the life expectancy of an average Indian. It is very difficult to predict, the average life of an individual. Various kinds of healthcare related issues do crop up. Hence take up a retirement plan suiting your requirements in a logical fashion. 

èSet Your Realistic Targets: After retirement, life should look rosy. Furthermore, various tasks can take place like your son’s marriage, daughter’s education, grand children’s schooling and others. Keep lot of funds for medical expenses and do a logical assessment on yourself.

èWary Of Market Fluctuations: The investment is major thing and be wary of the market fluctuations in India. Do investment in financial products, but make sure that it is genuine. Unit linked Insurance Plan (ULIPis a superior plan, playing a very major role in protecting your requirements. 

èGood Emergency Plan: You must have proper plan to get rid of emergency situations. Lot of money is required at this stage of life. Improper government policies and retirement benefits forces one to have a good retirement plan.

èSpectacular Protection For Wives/Kids: Family of the policyholder holds prime importance. Your wife and kids take centre stage and taking up good retirement scheme/benefits play a major role in giving them protection. 

èAttend Seminars On Retirement Planning:  Just because your active working life ends do not mean that you can relax. Go to nearest community hall/centre and attend seminar on retirement. This play a major role in deciding time for retirement.

èManage Your Stress Level: You need to take the help of Moneymindz personalised financial experts, advising in order to give you more control on your finances and future in a logical fashion. 

 

So make your life after work also count and build a golden nest.

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SUPER EIGHT SUCCESSFUL HABITS OF SUCCESSFUL INVESTORS

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There are various investors available in India. Most of the investors have entered the Forbes richest persons in the entire world. Some of them have become very rich and some have become highly successful in the world.

Moneymindz is one step ahead in offering personalised financial advice in successful investments in India.

We find investors in various fields like education, iron and steel, agriculture, cements, agriculture, forestry, milk, animal husbandry, real estate, finance, BPO’s, IT, Pharmaceuticals, Tourism, Hospitality.

Successful habits of the Successful investors in India are as follows:

èAccurate Expertise:  A good investor will have good expertise in their line of business. Due to this they will have a clear vision and mission. They will have complete knowledge and information on various aspects of work. This helps in taking good financial decisions.

èList of Goals: You must have set of goals a good investor will always have a good financial backing. The Goals can be defined into three types namely the:

ÜShort Term Goals: Goals to be achieved in shorter duration.

ÜIntermediary Goals: Goals that is set, and will be achieved little further away

ÜLong Term Goals: To be achieved after 5, 10 years 

èUnderstands The Market Scenario: An excellent investor in India definitely will understand the market scenarios, in a systematic and satisfactory manner. Depending upon that will invest in the relevant segment/sector in India.

èBeing Very Proactive: Most of the investors in India are very energetic and proactive in nature. Hence, they seek best invest options, best way to achieve their targets. They will keep updated with the company policies/procedures in a logical fashion. 

èDevelop A Plan and Loyalty: Most of the investors are having a positive approach to investing in many segments. Develop a plan in a logical fashion and stick to it. These play a major role in enhancing your skill and play a vital role in growth of that segment/sector.

èAfter Tax Returns: The successful investors think about the type of market to be targeted and stick to it for some time. Hence it is vital to understand investment and the nature of the investments in a logical fashion.

èBe Diversified: Most of the successful investors do know that diversification play a major role in crisis situations.

For example: People, who were investing in 2009 in IT segment, changed course and invested in other segments.

èDo Not Panic: A good and successful investor will never panic in adverse situations. He/she will try to find green patch during such situations. This will play a vital role in enhancing the growth and development of many successful enterprises in India.

 

Hence, one can say that planning, consistency and sharp implementation can play a vital role in showing desired results.

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TREMENDOUS WAYS TO ACHIEVE FINANCIAL FREEDOM BEFORE CUTTING CAKE AT 40 YEARS

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  • MoneyMindz.com India's First Free Online / On-call Financial Advisory
  • MoneyMindz.com India's First Free Online / On-call Financial Advisory

Working in companies will give you skill and salary. Some people use the money in a logical fashion, and some people will not utilize the money and end up on the losing side. One must understand the fact that money is the essential component of present day life. Gone are the days, when you used to take the help from your relatives, friends to take money, because they also have commitment looming over their heads. 

Thanks to the growth of science and technology, attitude of the people have changed. They have become very selfish and thinking of earning more than others. Many financial companies in India is coming up with novel ideal of offering financial independence to citizens of India. 

Moneymindz is way ahead of other financial companies in India. Furthermore, we proudly offer personalised financial guidance to customers in India. 

You must understand the fact that spending the money is very easy, however earning the same money is a tough task. You must utilize the money in a logical fashion.  You can have fun with your life when you reach 40 years. Make your life pleasurable and here are some of the steps given below; as follows.

Track Your Spending: You must be alert and monitor your spending. Download MoneyMindz mobile apps, like the Financial Freedom App in your mobile and track spending in a logical fashion.

Good Job with Super Salary:  One must go in for a spectacular job with great salary. Make sure you save each and every rupee in a logical fashion. Set up a small business along with your existing job to create extra income. Self employment is a good option in earning extra income. 

Invest In Stocks:  To be honest, rather than purchasing an iPhone, investment in stocks and securities is always greater. A genuine share of a top financial company or a technical company will give your lot of money.

Invest In Real Estate:  Investing in house/bungalow/villas is the ultimate key to safeguard your money. Real estate is a genuine investment. Giving part of your house for rentals is also good, as it offers you huge additional income for your bread and butter. 

Take Insurance:     Do not allow your earnings to go away, take a good life insurance to protect your life. This will make you feel responsible and also protect your investment in a logical fashion.

Set Up Kids Account: You must safe guards your kids future by setting up kids bank account. Deposit some money on a monthly basis and secure future of your lovely children. This helps them in chasing career dreams and rise above the rest.    

 

So, before cutting cake at the age of 40 years, make sure you have your investment in place and have a good time.

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SUPER ADVANTAGES OF DIGITALIZATION OF HOME LOANS 

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You wanted to make a difference in your life and want a beautiful house under your belt. It is not about the money, but also the challenges that come with it. Many people in India want roof of their own on their head. However, very few people in India are blessed to have a permanent roof over their head.

Moneymindz is having financial advisers offering personalised financial guidance to its valuable customers in India.

Yes, Home loan is the gaining more importance in the coming years. Not so long, people used to carry all relevant documents, reach the bank, meet the bank officials and discuss the modalities of getting the home loans. 

Times have changed and the people have changed considerably in India. Home loans in India have changed and at present home loans can be accessed online fashion.

All the details relating to the finance is in your fingertips. Thanks to the entry of computers and invasion of internet, digitisation is enriching our day to day lives. Banking industry is not spared, and has been bitten by the bug of digitisation.

Pros of Digitisation In Home Loans:

Digitisation of the home loans in India comes with positive points:

Easier Banking: Imagine you are standing in the bank from morning and your turn to withdraw cash comes in the evening. It is very torturous and time consuming in nature. Not to worry, one can bank from any corner of the world, except when website is not working. Online facilities are present round the clock and summary of your account is also present. Customer can go ahead and do transactions like

èDeposit

èWithdrawals

èCheque book request

èStatements

èKnowing various home loan details

èChanging the address

èAdding subsidiary account holder

èKnowing the balance

èOther Modifications

 

Tactical Planning: Concept of digitisation has played a major role in encouraging lenders to draw new strategies in a logical manner.        They can determine your eligibility for home loans using various analytical tools and software.

E-KYC: Earlier we go to the bank and submit the KYC (Know Your Customer) documents in the bank. Now we can go to bank website and submit E-KYC (E-Know Your Customer) documents.

Paperless Transactions: The normal documentation is greatest disadvantage of the banking systems.  Digitisation is making processing of documents very easy. Furthermore, usage of paper can be avoided in the banking transactions.

Mobile Apps: Most of the banks are developing the mobile apps, for the people to known about home loans. One can browse through features of home loans and select suitable one.

Cons of Digitisation In Home Loans:

èNo proper communication taking place between the customers and bank.

èAll transaction related issues cannot be resolved and will have to go to bank to get solution.

èIdentify issue is the major one and if proper check is not there, serious threat to your bank account can take place.

èIf the bank server is down, then customer faces lot of problems.

èPerson, novice to online home loan facility will be at sea.

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MARVELLOUS TAX RELATED BENEFITS OF HEALTH INSURANCE IN INDIA

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We all know about the health insurance as a concept in India. We are always worried about the health, as it is an emotional quotient. You may compromise on the dress you wear, books you buy, food you eat. When it comes to having a good health related service in India, one cannot do any compromise on the health insurance. This is because you value your life, life is the creation of god.  

Most financial planners in India advice that even if you do not have sufficient money in hand, go in for health insurance.

Moneymindz is having the group of excellent financial planners giving advice on health insurance mantras. 

Health insurance in India comes with various advantages and some of the major advantages of health insurance would be the tax related benefits. Now days, each and everything is coming under the tax net. So, when the financial planner says, that health insurance gives you tax benefits, you will get excited and will definitely apply for the health insurance.           

Some of the major tax related benefits of the health insurance in India are given below as follows:

èOne can claim deduction up to INR 25,000 related to the health insurance premium payments.

èIf policyholder is 60 years and above, then the claim deduction goes up to INR 30,000.

èPolicyholder, wife and kids, including policyholder’s parents qualified for tax benefits.

èYou get tremendous tax benefits on the preventive health care check up.

èIf the policyholder’ parents are crossing 80 years, then also you can claim deduction of INR 30,000 per financial year towards the medical treatment.

èPeople with Disabilities will claim deduction of approx INR 75,000 under the Section 80U. During severe disabilities the limit goes up till INR 1.25 lakhs.

èYou are qualified to medical allowance under Section 17; where in the amount paid along with your salary, by your employer towards medical treatment of your family (consisting of policyholder, wife, children, and parents) is let off   from the income tax up till some amount.

Taking health insurance is good in order to protect your health. Government encourages people to take up good health insurance in India. Tell goodbye to sky rocketing medical bills, when you face medical emergency. 

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GIVE WINGS TO YOUR TWO WHEELER WITH THE TWO WHEELER INSURANCE

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  • MoneyMindz.com India's First Free Online / On-call Financial Advisory
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  • MoneyMindz.com India's First Free Online / On-call Financial Advisory

A good two wheeler insurance policy is the ultimate contract between the two wheeler owner and the insurance company in India. Various unforeseen events like theft, natural disaster, accidents, earthquakes, and landslides do take place. This will encourage the people in India to opt for the two wheeler insurance in India.  Many insurance companies are developing in India offering the two wheeler insurance. 

Moneymindz is good in offering personalised financial advice to customers in India regarding the insurance, loan and Investments.

Two wheeler insurance is making waves in the insurance segment in India. Furthermore, it is better in offering the protection to various two wheeler in India like mopeds, motorbikes, motor-cycles, scooters and others. Furthermore, the two wheeler insurance is the ideal one available for important purposes especially personal and commercial purposes. 

India is a nation, having two wheeler population more compared to other vehicle population. Various reasons are there relating to the extensive use of the two wheeler insurance in India. Riding on two wheeler through the roads and coping with the traffic will give you a sense of challenging as well as an exciting activity to blow your mind.

Kinds of Two Wheeler Insurance:

There are two different kinds of the Two Wheeler Insurance available in India. They are as follows:

vComprehensive Two Wheeler Insurance: Process that will be covering theft, loss, damages, wear and tears to the vehicle.

vLiability Only Policies: An exclusive kind of coverage against any injuries, disturbance, death, property damage from any accident. The damage from accident will involve your vehicle.

Character of Two Wheeler Insurance In India:

The major features of the Two Wheeler Insurance in India are given below as follows:

èA unique coverage offering protection against all dangers to your two wheelers.

èFastest claim settlement process.

èFinest team of customer support working 24 hours in a day, 7 days in a week to deal with policy queries and claims enquiry.

èCovering the physical injuries.

èCovering the damage to two wheeler.

èEnhanced coverage for various spare parts of the bike and accessories.

èEncourages the transfer of NCB (No Claims Bonus), when you shift two wheeler policies from one company to another.

èRenewal of two wheeler insurance policy using online facility, helping them to renew policy without documentation.  

Factors Affecting Premium For Two Wheeler’s In India:

Factors that are affecting the premium for the two wheeler s are as follows:

èCapability       of the engine

èVehicle age

èGeographical factors

èModel type

Hence, as a two wheeler owner in India, it is imperative that you protect yourself and family from untoward incidents by having the two wheeler insurance.

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A NEW AGE MUTUAL FUNDS GUIDELINES TO INVEST 

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You are working in an MNC and began to earn lot of money. You have done a lot of research in various financial products in India. No Joy, you finally zeroed in on the mutual funds. New Age Mutual Funds is the major financial product, creating ripples in the silent stream of the financial river. 

It is a very good idea, to invest in New Age Mutual Funds. It is because the tax related benefits/returns are very superior compared to other financial products in India. Entry of SEBI (Securities and Exchange Board of India) has made the process very easy. People are very confused, about the process of investment in the mutual funds.

Moneymindz is the best financial company offering financial advice to citizens of India.

We have done a lot of research in a systematic and satisfactory manner, where in the layman can invest in the mutual funds.

Various Guidelines Available To Invest In Mutual Funds:

Comprehend Your Profile: Various kinds of investment products are present in India, with various kinds of returns. The investor must understand his positives and negatives before investing in a systematic manner. Higher the ageless will be threat levels. Usually there are three kinds of the profiles namely the Moderate, Conservative, Moderately Aggressive. 

Understand Your Financial Goals: Each and every person will have various financial goals in his/her life. Most of the goals are vital like the purchase of the house, retirement expenses, and medical expenses, education of the kid, purchasing the car, long vacations and others. Value addition to the goals play a major role in enhancing investment in a logical fashion.

Category of Funds:  Various kinds of funds are present in the market like the equity funds, income funds, balanced funds and others. Most of the mutual funds are tailored to suit interest of investors. You must search for the correct financial product. Various categories of funds are available like debt funds, fixed maturity plans and others. 

Check Historical Performance: It plays a major role in checking performance of the mutual funds. They usually do consist of various records of various performance related issues in a logical fashion. 

Not to Worry: The Mutual funds are foremost        component of investment and is above market fluctuations. So, if you invest in mutual funds, do not worry about it in the near future. I believe that is a major quality of new age mutual funds. 

Effective Monitoring: Mutual Funds is the major financial product and as an investor, you must monitor the mutual fund account in a logical fashion. It helps to know status of mutual funds and time required to do the fund accumulations.

 

Hence, New Age Mutual Funds is the main weapons for New Investors to build the wealth. Let’s Hope For Better Days.

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BENEFITS YOU DO NOT KNOW ABOUT FINANCIAL PLANNING 

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  • MoneyMindz.com India's First Free Online / On-call Financial Advisory
  • MoneyMindz.com India's First Free Online / On-call Financial Advisory
  • MoneyMindz.com India's First Free Online / On-call Financial Advisory

Imagine a position, where you have lot of money; however you do not know to utilise money in a logical manner. People have got the perception, that without huge salary, or being a part of rich family, you cannot achieve the higher financial goals.

However, the above mentioned idea is totally wrong. The vital process involving the procedure of estimating the money required and to be utilised is known as the financial planning. 

Moneymindz is the organisation consisting of certified financial planners (CFP) to offer advice on financial planning in India.

Area of Coverage of Financial Plans

One should not feel excited, when the term financial plan is being used. It is a sweet combination of various activities ranging from planning large purchases, doing the budgeting, allotments, and organised funds, for expected and unexpected circumstances in a logical fashion.  

This also involves the process of drawing up the route for obtaining the financial targets, in a logical fashion. They take into account the liabilities, assets, positive aspects, chances/ability, available to the person. 

Must For Drawing Up Financial Plans In India:

The motivating components of the financial planning in India are given below as follows:

Be specific about your goals: You must decide on various financial goals in a methodical and organised manner. Furthermore, you must be very realistic and very specific in meeting your objectives in a logical manner.

Budgeting: Concept of budgeting is the heart of financial planning in India.   It helps us to draw exact picture of        your spending area and the expenses. If you are struggling with spending the money, then please keep a track on the spending on a regular basis.

Disciplined Approach: Without suitable financial planning, nothing can be achieved. This is also applied to the investment segment. Streamlining of money in an organised manner will enhance investment.

Investment Planning: This is the great time for creating wealth for your personal expense, child’s education, dream holidays, marriage, vacation, entertainment, retirement and others.

Spend Less Than You Earn: People like to have things that are bigger and better in life. Financial planning is gaining more importance than the concept of the consumerism. Your financial planning will fall in place, once spending reduced and earning starts.

Hence, the Financial planning is the core of Indian economy and do require the attention of the experts.

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