The Psychology of Motivation: How to Stay Driven and Achieve Your Goals Introduction: Why Do We Struggle with Motivation? Have you ever set ambitious goals but struggled to stay motivated? You’re not alone. Studies show that 92% of people fail to achieve their New Year's resolutions ( University of Scranton, 2023 ). Motivation isn’t just about willpower—it’s about understanding how the brain works and using scientifically proven techniques to stay driven. In this blog, we’ll explore the psychology of motivation , common obstacles, and strategies to stay inspired. 1. The Science Behind Motivation Motivation is primarily driven by two types: 1. Intrinsic Motivation (Internal Drive) ✔ Comes from personal satisfaction and passion . ✔ Example: Learning a skill because you enjoy it. 🔹 A Harvard study found that people with intrinsic motivation are 30% more likely to sustain long-term success than those relying on external rewards. 2. Extrinsic Motivation (External Rewards)...
Bank of India Faces Rs 564 Crore Penalty from Income Tax Department Introduction: Recently, the Income Tax department imposed a hefty penalty of Rs 564.44 crore on Bank of India, a prominent public sector lender. This development has stirred discussions within financial circles, raising questions about the implications and the bank's response to this significant financial setback. Background Information: The penalty, issued under Section 270A of the Income Tax Act, 1961, pertains to the assessment year 2018-19. It stems from various disallowances made by the Income Tax department, signaling potential discrepancies or irregularities in the bank's financial dealings during that period. Bank's Response : In response to the penalty, Bank of India has swiftly moved to file an appeal before the Commissioner of Income Tax, National Faceless Appeal Centre (NFAC). The bank remains confident in its position, citing adequate factual and legal grounds to substantiate its case. It expec...