Includes an ‘open to all’ CONTEST... It’s a battle...the battle for being the best!!!So are you still waiting or what???
Put in your entries fast......
FRONT PAGE: IMAGE
Includes an ‘open to all’ CONTEST... It’s a battle...the battle for being the best!!!So are you still waiting or what???
Put in your entries fast......
From the Editor’s desk
Dear colleagues,
While I write this article, I feel more than privileged to share my views with all the readers of “IMAge”. I take this opportunity to thank all my colleagues who bestowed upon me this opportunity. I extend a note of thanks and gratitude.
Every one of us left our sweet homes for a voyage, a voyage for a successful career. We came here, started to know each other, made friends and saw both good and bad times together. Amidst all the brain storming sessions, presentations and assignments, we were left with no time for ourselves. A pool of talents lied within untouched and unaware. Then we brought the IMAge.
“IMAge- Imagination Unleashed”, a touch of originality. The best place to portray the original you. With the successful launch of our section magazine and the encouragement we received from our peers and facilitators, we decided to take it a step further and make it big. It started as a class magazine and was limited to our section, but its success made it go long way. Now it’s for IMA.
The IMAge entails the collective efforts of all the potential contributors. The editorial team consists of a pool of talented individuals who I need to personally thank. I extend my sincere thanks to
Sub-editor Prateek Mathur
Co-ordinator Varun Sharma & Shruti
Design & Layout Souvik Mukherjee, Jaspreet Singh, Rahul Singh
Executive Board Divya Sivaram, Garima Anand, Shubhangi, Debarati Dutta, Sweta Jagadish, Gurdeep Singh, Bright Sam Verghese, Jagjeet Singh, Tejinder Singh, Dhananjay Kumar.
From the first editorial meeting to the final compilation, my colleagues were patient, supportive and above all highly enthusiastic. And the magazine that you behold, exhibits the exuberant efforts by all the contributors and the team. I was so delighted in compiling this magazine.
My heartfelt thanks to my colleagues for contributing diverse articles. In spite of this, all the articles could not be published. My sincere apologies to all, and I hope that the same zeal and enthusiasm is shown by all in the forthcoming issues. We would appreciate your opinions and suggestions, so please feel free to send them across at and visit http://www.imagemagazines.blogspot.com/.
With regards
P. Salila
While I write this article, I feel more than privileged to share my views with all the readers of “IMAge”. I take this opportunity to thank all my colleagues who bestowed upon me this opportunity. I extend a note of thanks and gratitude.
Every one of us left our sweet homes for a voyage, a voyage for a successful career. We came here, started to know each other, made friends and saw both good and bad times together. Amidst all the brain storming sessions, presentations and assignments, we were left with no time for ourselves. A pool of talents lied within untouched and unaware. Then we brought the IMAge.
“IMAge- Imagination Unleashed”, a touch of originality. The best place to portray the original you. With the successful launch of our section magazine and the encouragement we received from our peers and facilitators, we decided to take it a step further and make it big. It started as a class magazine and was limited to our section, but its success made it go long way. Now it’s for IMA.
The IMAge entails the collective efforts of all the potential contributors. The editorial team consists of a pool of talented individuals who I need to personally thank. I extend my sincere thanks to
Sub-editor Prateek Mathur
Co-ordinator Varun Sharma & Shruti
Design & Layout Souvik Mukherjee, Jaspreet Singh, Rahul Singh
Executive Board Divya Sivaram, Garima Anand, Shubhangi, Debarati Dutta, Sweta Jagadish, Gurdeep Singh, Bright Sam Verghese, Jagjeet Singh, Tejinder Singh, Dhananjay Kumar.
From the first editorial meeting to the final compilation, my colleagues were patient, supportive and above all highly enthusiastic. And the magazine that you behold, exhibits the exuberant efforts by all the contributors and the team. I was so delighted in compiling this magazine.
My heartfelt thanks to my colleagues for contributing diverse articles. In spite of this, all the articles could not be published. My sincere apologies to all, and I hope that the same zeal and enthusiasm is shown by all in the forthcoming issues. We would appreciate your opinions and suggestions, so please feel free to send them across at and visit http://www.imagemagazines.blogspot.com/.
With regards
P. Salila
The Co-ordinator speaks out.......!!!
Greetings!
Here, at this time it gives me immense pleasure to bring out the second edition of IMAge – Imagination unleashed. Introducing IMAge was sizeable, exceptional and an assiduous task. But this time the challenge was even more titanic. As the daily activities in the academy caught pace and the plethora of presentations made life pretty miserable, it really needed an extraordinary effort from the team to get things done simultaneously.
Hence I thank the entire IMAge team and everyone who contributed to this months’ edition for the superlative effort. And also the last month team for the tremendous support that they provided us with.
This month the team has tried its best to bring you an immensely piquant anthology of:
· NEWS – ICICI, IMA & current affairs
· A dedicated ‘Sports Section’
· A rendezvous with an interesting personality – Steve Jobs
· A place to visit in Hyderabad
· A vocabulary capsule
· An open to all Contest and feedback section
· Some attention-grabbing write ups and of course ... a lot of FUN.
The idea while designing the contents of the issue was to come up with a constructive compilation which not only provides the readers with important inputs but also leaves an unwavering impression. Inside the magazine, every feature is added to make it edifying, as well as appealing.
I have to make a special note of the participation from the entire IMA. I mean it was an overwhelming experience to see the flurry of articles coming as soon as the bell was rung. Although this made sieving all the more difficult but the outcome was always going to be an exceptional one.
Therefore, no matter what or how much do I say to put across that how proud I am to be a part of this wonderful team, it would be an understatement. It’s only when I look back that I can recognize the learning that I underwent in the process of bringing out just one edition. Hence I would like to take this moment to wish the future caretakers of this baby (IMAge),............’ALL THE VERY BEST’.
We really appreciate the feedback for the last edition, since it helped us a long way in designing this months’ issue. So for the benefit of the next months’ team, this time we are also keeping a feedback box at the academy wherein you can drop a hard copy of your feedback.
Signing off, I would like to say that IMAge intends to bring together the small IMA family that we have here. If we deliberate on it, we do not have a long time to share at this place. But it is what we learn in this excursion that will make a difference in our lives. So let’s make it an interactive session where we can strive to learn and have fun. And we already have a strong foundation called IMAge.
Have a wonderful time reading and all the best for the contest!!!
Varun Sharma
Co-ordinator
Here, at this time it gives me immense pleasure to bring out the second edition of IMAge – Imagination unleashed. Introducing IMAge was sizeable, exceptional and an assiduous task. But this time the challenge was even more titanic. As the daily activities in the academy caught pace and the plethora of presentations made life pretty miserable, it really needed an extraordinary effort from the team to get things done simultaneously.
Hence I thank the entire IMAge team and everyone who contributed to this months’ edition for the superlative effort. And also the last month team for the tremendous support that they provided us with.
This month the team has tried its best to bring you an immensely piquant anthology of:
· NEWS – ICICI, IMA & current affairs
· A dedicated ‘Sports Section’
· A rendezvous with an interesting personality – Steve Jobs
· A place to visit in Hyderabad
· A vocabulary capsule
· An open to all Contest and feedback section
· Some attention-grabbing write ups and of course ... a lot of FUN.
The idea while designing the contents of the issue was to come up with a constructive compilation which not only provides the readers with important inputs but also leaves an unwavering impression. Inside the magazine, every feature is added to make it edifying, as well as appealing.
I have to make a special note of the participation from the entire IMA. I mean it was an overwhelming experience to see the flurry of articles coming as soon as the bell was rung. Although this made sieving all the more difficult but the outcome was always going to be an exceptional one.
Therefore, no matter what or how much do I say to put across that how proud I am to be a part of this wonderful team, it would be an understatement. It’s only when I look back that I can recognize the learning that I underwent in the process of bringing out just one edition. Hence I would like to take this moment to wish the future caretakers of this baby (IMAge),............’ALL THE VERY BEST’.
We really appreciate the feedback for the last edition, since it helped us a long way in designing this months’ issue. So for the benefit of the next months’ team, this time we are also keeping a feedback box at the academy wherein you can drop a hard copy of your feedback.
Signing off, I would like to say that IMAge intends to bring together the small IMA family that we have here. If we deliberate on it, we do not have a long time to share at this place. But it is what we learn in this excursion that will make a difference in our lives. So let’s make it an interactive session where we can strive to learn and have fun. And we already have a strong foundation called IMAge.
Have a wonderful time reading and all the best for the contest!!!
Varun Sharma
Co-ordinator
Something about ICICI
· ICICI Bank Launches new line of Credit Card on the American Express® Network
ICICI Bank, India’s second largest bank and American Express, one of the world's leading financial services companies, announced the launch of the “ICICI Bank Ascent American Express® Card”. The card offers customers a powerful value proposition of accelerated rewards and exclusive privileges for the sophisticated, affluent Indian consumer. They also introduced the ICICI Bank Business Ascent American Express® Card designed exclusively for entrepreneurs who will benefit from the Business Advantage Programme featuring attractive savings on business related expenses.
The ICICI Bank Ascent American Express Card comes with a comprehensive rewards programme that offers up to 6% of the value of transactions on the card. ICICI Bank and American Express have partnered with Taj Hotels Resorts and Palaces, Yatra.com and Provogue to create a world class rewards programme and attractive year long privileges to card members. The card also offers a personal concierge service, comprehensive travel insurance and the American Express SelectsSM programme providing exclusive discounts and privileges to card members in India and when travelling overseas.
· ICICI Bank Opens New York Branch
ICICI Bank Limited (NYSE: IBN), inaugurated its New York branch in midtown Manhattan. This is consequent to the bank’s approval from the U.S. regulators to commence operations as a Federal branch in New York City. The New York branch, subject to applicable guidelines, will offer a suite of banking services including working capital, acquisition finance, trade service and treasury solutions to corporate and savings products to qualified individuals.
·ICICI Bank enters Germany
Launches Call Money account “HiZins” at 4.75 percent interest.
Frankfurt: ICICI Bank UK PLC, a wholly-owned subsidiary of ICICI Bank Limited (NYSE: IBN), is entering the German market, with its Frankfurt branch being launched today at Mainzer Landstrasse 69-71, Frankfurt am Main. The branch is a member of the Association of German Banks. This offering leverages ICICI Bank’s technological capabilities and cost efficiencies to create a superior value proposition and serve customers through Internet (http://www.icicibank.de/) and telephone banking. It will also focus on serving corporate businesses with significant Germany-India linkages.
Coinciding with the inauguration, ICICI Bank UK PLC has launched a call money account product “HiZins” with an interest rate of 4.75%. This would be a no frills savings account with withdrawals available on a daily basis, and no restrictions on the amount that can be deposited. The customers will be served through a call center that will be located in Germany.
ICICI Bank, India’s second largest bank and American Express, one of the world's leading financial services companies, announced the launch of the “ICICI Bank Ascent American Express® Card”. The card offers customers a powerful value proposition of accelerated rewards and exclusive privileges for the sophisticated, affluent Indian consumer. They also introduced the ICICI Bank Business Ascent American Express® Card designed exclusively for entrepreneurs who will benefit from the Business Advantage Programme featuring attractive savings on business related expenses.
The ICICI Bank Ascent American Express Card comes with a comprehensive rewards programme that offers up to 6% of the value of transactions on the card. ICICI Bank and American Express have partnered with Taj Hotels Resorts and Palaces, Yatra.com and Provogue to create a world class rewards programme and attractive year long privileges to card members. The card also offers a personal concierge service, comprehensive travel insurance and the American Express SelectsSM programme providing exclusive discounts and privileges to card members in India and when travelling overseas.
· ICICI Bank Opens New York Branch
ICICI Bank Limited (NYSE: IBN), inaugurated its New York branch in midtown Manhattan. This is consequent to the bank’s approval from the U.S. regulators to commence operations as a Federal branch in New York City. The New York branch, subject to applicable guidelines, will offer a suite of banking services including working capital, acquisition finance, trade service and treasury solutions to corporate and savings products to qualified individuals.
·ICICI Bank enters Germany
Launches Call Money account “HiZins” at 4.75 percent interest.
Frankfurt: ICICI Bank UK PLC, a wholly-owned subsidiary of ICICI Bank Limited (NYSE: IBN), is entering the German market, with its Frankfurt branch being launched today at Mainzer Landstrasse 69-71, Frankfurt am Main. The branch is a member of the Association of German Banks. This offering leverages ICICI Bank’s technological capabilities and cost efficiencies to create a superior value proposition and serve customers through Internet (http://www.icicibank.de/) and telephone banking. It will also focus on serving corporate businesses with significant Germany-India linkages.
Coinciding with the inauguration, ICICI Bank UK PLC has launched a call money account product “HiZins” with an interest rate of 4.75%. This would be a no frills savings account with withdrawals available on a daily basis, and no restrictions on the amount that can be deposited. The customers will be served through a call center that will be located in Germany.
IMA in March
March saw a pretty happening month at the IMA. On one side where the schedules became hectic, the nights became sleepless and assignments started to show effect, the other side also brought some respite in the form of Holi holidays. The students capitalized fully on a well deserved three day break by visiting their sweet homes, organizing exciting trips. Many went to enjoy the picturesque pulchritude of Vizag, some also preferred to take the opportunity to pay homage the deity at the Tirupati Balaji, however some insomniacs also decided to treat themselves with some unruffled sleep at their hostel rooms.
The early part of the month witnessed a Cricket tournament organized by the students. While ‘Section – A’ came on top in a gripping final, the spirit of participation from all sections was the most pleasing factor.
Although a small test on MCO and IT tried to play the spoilsport but all in all, the month gave a glimpse of the romance that lies ahead. So with the spirits held high, we welcome APRIL!!!!!
Find of the month:
This small section is dedicated to recognize an exceptional effort put in by Surya Pratap Dash (Section – A), who mesmerized the entire IMA by putting together a team building presentation having the effects if the movie CHAK DE – INDIA.
Well Done Surya!!!!!!
The early part of the month witnessed a Cricket tournament organized by the students. While ‘Section – A’ came on top in a gripping final, the spirit of participation from all sections was the most pleasing factor.
Although a small test on MCO and IT tried to play the spoilsport but all in all, the month gave a glimpse of the romance that lies ahead. So with the spirits held high, we welcome APRIL!!!!!
Find of the month:
This small section is dedicated to recognize an exceptional effort put in by Surya Pratap Dash (Section – A), who mesmerized the entire IMA by putting together a team building presentation having the effects if the movie CHAK DE – INDIA.Well Done Surya!!!!!!
Current Affairs – An Overview
The deadlock on the Comprehensive Economic Cooperation Agreement (CECA) signed be
·RBI lets Singapore banks to open branches in India
tween India and Singapore has finally lifted. The Reserve Bank of India (RBI) on Tuesday granted license to two Singapore banks - DBS and United Overseas Bank (UOB). In turn, the Monetary Authority of Singapore (MAS) has approved a full bank license to State Bank of India (SBI) with privileges to establish up to 25 outlets, including ATMs and offer full range of financial services. This makes SBI the first Indian bank to get a qualifying full bank (QFB) status in Singapore. The license will enable the country’s largest bank to kick off retail operations in Singapore. DBS, Singapore’s largest bank, has received RBI clearance to open another eight branches in the country. UOB has received the RBI nod for opening its maiden branch in the country in Mumbai.
·Subprime exposure hits ICICI Bank
ICICI Bank is reported to have taken a hit of $263 mn because of its exposure to the subprime crisis.
Following is an educative excerpt explaining the subprime effect on Indian Banks:
a. Why are Indian banks hit?
The Indian banks are hit because they have exposure to derivatives like credit default swaps and credit-linked notes. There is a mark-to-market loss on these instruments when markets are in turmoil.
b. Why they invested in CDS and CLN?
The return was higher. It was also an opportunity to participate in the funding of big overseas acquisitions.
c. How it works?
Foreign bank that lends to an Indian co. for an acquisition buys CDS from ICICI. CDS is like an insurance against which ICICI earns a premium. For the foreign bank, the credit risk is transferred from the Indian firm to ICICI. In CLN, the bank not only sells protection but also buys bonds from the foreign bank.
d. What subprime changed?
Liquidity dried up and CDS premia surged, reflecting a rise in the cost of protection. ICICI and other banks had to make a provision on CDS and CLN, since the premium they earned was less than the market rate. This is similar to a provision on bond when interest rate goes up. While we are reeling under our entry into the subprime mess, Ben Bernanke, the Federal Reserve Chairman (USA’s Reserve Bank) has opined that bank write-downs may be overdone. This is because banks are marking their securities against an index that suggests the losses will be 32 times worse than the actual loss.(05-03-2008).
·New MSS ceilings
Remember the Market Stabilization Scheme?
The MSS scheme, which was launched in April 2004, entails the issue of treasury bills and dated securities to absorb excess liquidity arising from significant foreign exchange inflows. The issuance of MSS bonds drains out liquidity from the system and stems Rupee appreciation.
The cap for market stabilisation bonds for 2008-09 at Rs 2.5 lakh crore is significantly higher than the originally budgeted amount of less than Rs 1 lakh crore for 2007-08.
The provision for interest payments on account of these bonds has gone up to Rs 13,958 crore as against Rs 8,351 crore in the revised estimates (RE) for the current fiscal. The originally budgeted amount for such interest payments in 2007-08 was Rs 3,700 crore. The interest payments have been calculated with an estimated 8% rate for such bonds.
The receipts from borrowings under MSS are being held as cash balance in a separate and identifiable account with RBI. These receipts are not available to meet any expenditure of the government, other than repayment of treasury bills or dated securities issued under MSS.
While MSS is a part of the total public debt, the interest payment is accounted for in the budget. The outstandings under the MSS amounted to Rs 1,61,058 crore as on January 18, 2008. There has been a steady increase in MSS outstandings as reflected in the significant build up of liquidity overhang since August 2007.(12.03.2008)
·India to develop 6 multi-modal airport hubs
o India will soon have multi-modal airport hubs across its landscape, similar to the one proposed at Nagpur.
o They will be developed in six metros to cater to not only commercial airlines but also to cargo airlines. They will have MRO (Maintenance, Repair and Overhaul) facilities.
o The proposed places where these will be established are: Amritsar, Ahmedabad, Hyderabad, Thiruvananthapuram, Kokata and Guwahati.
·Regional stock exchanges in limelight again. Why?
o There is a rising interest in regional stock exchanges because of new FDI norms that allow foreign investments up to 49% in stock exchanges, depositories and clearing corporations, with a cap on single investment, direct or indirect at 5%.
o One more reason is the ‘corporatisation of exchanges.’ This allows them to be run like any other company. They exist and operate to earn profit.
o The interest evinced by Nasdaq (the largest electronic equity securities trading market in the US) to partner with Ahmedabad Stock Exchange and the German multinational bank Deutsche Bank’s attempt at owning about 5% stake in the Delhi Stock Exchange are examples of this trend.
·Tatas clinch the Jaguar deal – Jaguar Land Rover deal
o It is a $2.3 bn all-cash deal. Under the deal Ford would pay about $600 mn towards the pension liabilities of Jaguar-Land Rover employees and Tata Motors would continue to source motors from Ford.
o However, the cost of the final deal is expected to be about $3 bn because this price of $2.3 bn just covers the price of brands, assets and technology know-how. A big part of the additional cost would go for engine and component supply.
· Some more salient features of the pay award announced by the Sixth Pay Commission
o It has liberalized the conditions relating to pension payment. So far, only when a service of not less than 33 years is put up by an employee, is he eligible for full pension. Now the Commission recommended that soon after 20 years of service, the employee will be entitled for full pension.
o It has increased the limit on gratuity payment also from Rs. 3.5 lakh to Rs. 10 lakhs.
o These recommendations are expected to benefit about 38.41 lakh pensioners. The increased payment to pensioners will result in an additional expenditure of Rs. 1,365 crores per annum.
· Inflation worries for government
o Inflation has touched an 11-month high of 5.92%; much beyond the comfort zone of 5% tolerated by the RBI. This is the third consecutive week that the WPI based inflation has breached the 5% mark.
o This has prompted the government to immediately announce some fiscal measures, as the scope on monetary front appears to be limited.
o It has announced a slew of duty cuts – customs duty cuts on edible oils and rice. While the customs duty on rice has been slashed to nil from 70%, duties on all crude and edible oil imports have been reduced from the present level of 75% - 52% to 20% and 27.5% respectively.
o The government appears to be thinking about introducing export duty on steel.(21.03.2008).
· New Prime Minister for Pakistan
President Pervez Musharraf administered oath to Syed Yousaf Gillani as Pakistan`s 25th Prime Minister here today, a day after challenging the US-backed leader`s authority by freeing judges detained under Emergency Rule.
· Ravi Kant Sharma, a senior Indian policeman, has been found guilty of murdering Shivani Bhatnagar, a journalist of the Indian Express newspaper.
In January 1999, Shivani was found strangled in her flat in the capital, Delhi. Mr Sharma and three others found guilty of the murder are due to be sentenced on Thursday. After Ms Bhatnagar's death, Mr Sharma absconded before giving himself up in September 2002. The case created a sensation when Mr Sharma's wife accused a late former minister of having a relationship with the journalist.
·RBI lets Singapore banks to open branches in India
tween India and Singapore has finally lifted. The Reserve Bank of India (RBI) on Tuesday granted license to two Singapore banks - DBS and United Overseas Bank (UOB). In turn, the Monetary Authority of Singapore (MAS) has approved a full bank license to State Bank of India (SBI) with privileges to establish up to 25 outlets, including ATMs and offer full range of financial services. This makes SBI the first Indian bank to get a qualifying full bank (QFB) status in Singapore. The license will enable the country’s largest bank to kick off retail operations in Singapore. DBS, Singapore’s largest bank, has received RBI clearance to open another eight branches in the country. UOB has received the RBI nod for opening its maiden branch in the country in Mumbai.
·Subprime exposure hits ICICI Bank
ICICI Bank is reported to have taken a hit of $263 mn because of its exposure to the subprime crisis.
Following is an educative excerpt explaining the subprime effect on Indian Banks:
a. Why are Indian banks hit?
The Indian banks are hit because they have exposure to derivatives like credit default swaps and credit-linked notes. There is a mark-to-market loss on these instruments when markets are in turmoil.
b. Why they invested in CDS and CLN?
The return was higher. It was also an opportunity to participate in the funding of big overseas acquisitions.
c. How it works?
Foreign bank that lends to an Indian co. for an acquisition buys CDS from ICICI. CDS is like an insurance against which ICICI earns a premium. For the foreign bank, the credit risk is transferred from the Indian firm to ICICI. In CLN, the bank not only sells protection but also buys bonds from the foreign bank.
d. What subprime changed?
Liquidity dried up and CDS premia surged, reflecting a rise in the cost of protection. ICICI and other banks had to make a provision on CDS and CLN, since the premium they earned was less than the market rate. This is similar to a provision on bond when interest rate goes up. While we are reeling under our entry into the subprime mess, Ben Bernanke, the Federal Reserve Chairman (USA’s Reserve Bank) has opined that bank write-downs may be overdone. This is because banks are marking their securities against an index that suggests the losses will be 32 times worse than the actual loss.(05-03-2008).
·New MSS ceilings
Remember the Market Stabilization Scheme?
The MSS scheme, which was launched in April 2004, entails the issue of treasury bills and dated securities to absorb excess liquidity arising from significant foreign exchange inflows. The issuance of MSS bonds drains out liquidity from the system and stems Rupee appreciation.
The cap for market stabilisation bonds for 2008-09 at Rs 2.5 lakh crore is significantly higher than the originally budgeted amount of less than Rs 1 lakh crore for 2007-08.
The provision for interest payments on account of these bonds has gone up to Rs 13,958 crore as against Rs 8,351 crore in the revised estimates (RE) for the current fiscal. The originally budgeted amount for such interest payments in 2007-08 was Rs 3,700 crore. The interest payments have been calculated with an estimated 8% rate for such bonds.
The receipts from borrowings under MSS are being held as cash balance in a separate and identifiable account with RBI. These receipts are not available to meet any expenditure of the government, other than repayment of treasury bills or dated securities issued under MSS.
While MSS is a part of the total public debt, the interest payment is accounted for in the budget. The outstandings under the MSS amounted to Rs 1,61,058 crore as on January 18, 2008. There has been a steady increase in MSS outstandings as reflected in the significant build up of liquidity overhang since August 2007.(12.03.2008)
·India to develop 6 multi-modal airport hubs
o India will soon have multi-modal airport hubs across its landscape, similar to the one proposed at Nagpur.
o They will be developed in six metros to cater to not only commercial airlines but also to cargo airlines. They will have MRO (Maintenance, Repair and Overhaul) facilities.
o The proposed places where these will be established are: Amritsar, Ahmedabad, Hyderabad, Thiruvananthapuram, Kokata and Guwahati.
·Regional stock exchanges in limelight again. Why?
o There is a rising interest in regional stock exchanges because of new FDI norms that allow foreign investments up to 49% in stock exchanges, depositories and clearing corporations, with a cap on single investment, direct or indirect at 5%.
o One more reason is the ‘corporatisation of exchanges.’ This allows them to be run like any other company. They exist and operate to earn profit.
o The interest evinced by Nasdaq (the largest electronic equity securities trading market in the US) to partner with Ahmedabad Stock Exchange and the German multinational bank Deutsche Bank’s attempt at owning about 5% stake in the Delhi Stock Exchange are examples of this trend.
·Tatas clinch the Jaguar deal – Jaguar Land Rover deal
o It is a $2.3 bn all-cash deal. Under the deal Ford would pay about $600 mn towards the pension liabilities of Jaguar-Land Rover employees and Tata Motors would continue to source motors from Ford.
o However, the cost of the final deal is expected to be about $3 bn because this price of $2.3 bn just covers the price of brands, assets and technology know-how. A big part of the additional cost would go for engine and component supply.
· Some more salient features of the pay award announced by the Sixth Pay Commission
o It has liberalized the conditions relating to pension payment. So far, only when a service of not less than 33 years is put up by an employee, is he eligible for full pension. Now the Commission recommended that soon after 20 years of service, the employee will be entitled for full pension.
o It has increased the limit on gratuity payment also from Rs. 3.5 lakh to Rs. 10 lakhs.
o These recommendations are expected to benefit about 38.41 lakh pensioners. The increased payment to pensioners will result in an additional expenditure of Rs. 1,365 crores per annum.
· Inflation worries for government
o Inflation has touched an 11-month high of 5.92%; much beyond the comfort zone of 5% tolerated by the RBI. This is the third consecutive week that the WPI based inflation has breached the 5% mark.
o This has prompted the government to immediately announce some fiscal measures, as the scope on monetary front appears to be limited.
o It has announced a slew of duty cuts – customs duty cuts on edible oils and rice. While the customs duty on rice has been slashed to nil from 70%, duties on all crude and edible oil imports have been reduced from the present level of 75% - 52% to 20% and 27.5% respectively.
o The government appears to be thinking about introducing export duty on steel.(21.03.2008).
· New Prime Minister for Pakistan
President Pervez Musharraf administered oath to Syed Yousaf Gillani as Pakistan`s 25th Prime Minister here today, a day after challenging the US-backed leader`s authority by freeing judges detained under Emergency Rule.
· Ravi Kant Sharma, a senior Indian policeman, has been found guilty of murdering Shivani Bhatnagar, a journalist of the Indian Express newspaper.
In January 1999, Shivani was found strangled in her flat in the capital, Delhi. Mr Sharma and three others found guilty of the murder are due to be sentenced on Thursday. After Ms Bhatnagar's death, Mr Sharma absconded before giving himself up in September 2002. The case created a sensation when Mr Sharma's wife accused a late former minister of having a relationship with the journalist.
Not So Easy!!!
How quick can you find out what is so unusual about this paragraph?
“It looks so ordinary that you would think that nothing is wrong with it at all and in fact, nothing is. But it is unusual. Why? If you study it and think about it you may find out but I am not going to assist you in any way. You must do it without coaching. No doubt if you work at it for long, it will dawn on you. Who knows? “
Go to work and try your skill!!!
Find out the answer on the SECOND LAST PAGE.......!!!!!!
“It looks so ordinary that you would think that nothing is wrong with it at all and in fact, nothing is. But it is unusual. Why? If you study it and think about it you may find out but I am not going to assist you in any way. You must do it without coaching. No doubt if you work at it for long, it will dawn on you. Who knows? “
Go to work and try your skill!!!
Find out the answer on the SECOND LAST PAGE.......!!!!!!
In The Lap of Nature – A Trip to Vizag
Endless sea, high rising hills, winding trekking paths, clouds touching the horizon… Whoa! Was it a dream?
15 IMA enthusiasts embarked on a journey of helluva masti. It was our trip to Vizag. Though not many of us were supportive of the idea of the Vizag trip the excitement got the better of us. With the sole motive of having a blast, we began our adventure the moment the station master flagged the green signal at the Hyderabad station.
We were a diverse group, people from varied backgrounds, people from different geographic locations & varied interests but with one goal- enjoying ourselves to the hilt. The ice broke in the train itself through antakshri. As the night began to fall, under the starry sky, we talked our hearts out about almost everything. Even the sleepy eyes could not damper our spirits as we woke up charged with just a few hrs of sleep.
As we touched the soil of Vizag, our first view was of the mountains touching the sky, clouds kissing their peaks. It was a breathtaking sight. After lunch we took a ferry ride; sailing in the ocean was exhilarating. The waves bouncing up and down excited our senses and we savored the vastness of the sea. Post the ferry ride, we reached Rishikonda beach. It was a full-moon night and the sea was in midst of its high tide. We went into the sea to befriend the waves. After a tiring but a fruitful day at sea we retired for the day.
The next morning we left for the Arakku valley where we explored the Borra caves. We climbed the rocks with an unbounded zeal to reach and feel the warmth of the waterfall. It transported me to my childhood reminding of the Campty fall in Mussoorie. It seemed that the cold water trickling down through the rocks washed away all signs of tiredness in us.
Next destination in Arakku valley was a garden. We found our cosy corner- a tree house and had a gala time capturing those moments forever on the roll. These tree houses, known as “Machans” were made to protect the hunters from the wild animals.
On our way back to Vizag, we hired open jeeps and whoa!! The experience of going through the winding paths of the hills and the air fiercely brushing against us as we hung out of our jeeps was simply exhilarating. The other places that we visited were submarine museum and Kailash giri. The trip to Vizag left us refreshed and charged up. The mountains inspired us to reach the heights and the ocean to go beyond the limits to touch the horizon. And of course, it has bounded me even better with my friends, my buddies at IMA!
15 IMA enthusiasts embarked on a journey of helluva masti. It was our trip to Vizag. Though not many of us were supportive of the idea of the Vizag trip the excitement got the better of us. With the sole motive of having a blast, we began our adventure the moment the station master flagged the green signal at the Hyderabad station.
We were a diverse group, people from varied backgrounds, people from different geographic locations & varied interests but with one goal- enjoying ourselves to the hilt. The ice broke in the train itself through antakshri. As the night began to fall, under the starry sky, we talked our hearts out about almost everything. Even the sleepy eyes could not damper our spirits as we woke up charged with just a few hrs of sleep.
As we touched the soil of Vizag, our first view was of the mountains touching the sky, clouds kissing their peaks. It was a breathtaking sight. After lunch we took a ferry ride; sailing in the ocean was exhilarating. The waves bouncing up and down excited our senses and we savored the vastness of the sea. Post the ferry ride, we reached Rishikonda beach. It was a full-moon night and the sea was in midst of its high tide. We went into the sea to befriend the waves. After a tiring but a fruitful day at sea we retired for the day.
The next morning we left for the Arakku valley where we explored the Borra caves. We climbed the rocks with an unbounded zeal to reach and feel the warmth of the waterfall. It transported me to my childhood reminding of the Campty fall in Mussoorie. It seemed that the cold water trickling down through the rocks washed away all signs of tiredness in us.
Next destination in Arakku valley was a garden. We found our cosy corner- a tree house and had a gala time capturing those moments forever on the roll. These tree houses, known as “Machans” were made to protect the hunters from the wild animals.
On our way back to Vizag, we hired open jeeps and whoa!! The experience of going through the winding paths of the hills and the air fiercely brushing against us as we hung out of our jeeps was simply exhilarating. The other places that we visited were submarine museum and Kailash giri. The trip to Vizag left us refreshed and charged up. The mountains inspired us to reach the heights and the ocean to go beyond the limits to touch the horizon. And of course, it has bounded me even better with my friends, my buddies at IMA!
Sports Section: War on the playground......!!!
· 2008 Barclays Dubai Tennis Championships
a. Singles – Men
Sixth-seeded American Andy Roddick captured his 25th career ATP singles title and second trophy in three weeks with a 6-7(8), 6-4, 6-2 victory over unseeded Spaniard Feliciano Lopez in one hour and 55 minutes at the Barclays Dubai Tennis Championships on Saturday. Roddick, who didn't lose his serve in five matches this week, hit 22 aces to extend his perfect record to 4-0 against Lopez.
In what was arguably the most exciting two weeks in the 16 year history of the Barclays Dubai Tennis Championships, the tournament saw not one, but both, long-standing champions lose their crowns as first Justine Henin and then Roger Federer fell to early defeats.
a. Doubles – Men M Bhupathi/M Knowles beat M Damm/P Vizner 7-5 7-6(7)
a. Singles - Women
Elena Dementieva came out on top in the all-Russian final beating Svetlana Kuznetsova to win the Dubai Championships. Eighth seed Dementieva came from a set down to claim a 4-6 6-3 6-2 victory. The victory marked the ninth WTA title for Dementieva. The 26 Year old Russian was appearing in her first final since winning at Moscow in October last year. For second seed Kuznetsova, it was her second loss in the finals at Dubai. She was beaten by Justine Henin in 2004.
Serb Ana Ivanovic came into the 2008 Pacific Life Open with the added pressure as the No. 1 seed and, at the end of the fortnight, rightfully finished as the last woman standing. She claimed her first trophy in Indian Wells with a 6-4, 6-3 win over No. 2 seed Svetlana Kuznetsova in Sunday’s final, relegating the Russian to runner-up status for the second straight year.
· CANARA BANK WTA BANGALORE OPEN 2008
· Singles – Final
Serena Williams defeated of Patty Schnyder 7-5 6-3 to win the her first singles title of the season by winning the final of the Canara Bank WTA Bangalore Open tennis championship.
· Doubles – Final
S Peng(CHN) / T Sun(CHN) beat Y Chan(TPE) / C Chuang 6-4,5-7,10-8
· European PGA tour Tournaments: Ballantine's Championship
Ireland's Graeme McDowell emerged victorious in a play-off with India's Jeev Milha Singh to win the Ballantine's Championship. The 28-year-old McDowell claimed his third European Tour title and first since winning the 2004 Italia Open in a play-off.
· Indian Probables announced for Women’s Hockey Olympic qualifier
Indian Women Hockey Federation have announced a list of 22 probables for the women's hockey Olympic qualifying tournament to be held in Russia. Seasoned forward Mamta Kharb will lead the team while defender Suman Bala will be vice-captain. Only the winners of the tournament will make it to Beijing in August.
· Rice breaks 200m IM World record (Swimming)
Australia's Stephanie Rice broke the women's 200-metre Individual Medley world record clocking 2 minutes 8.92 seconds at the Australian Olympic swimming trials in Sydney. The 19 year-old trimmed 0.80 seconds from the record set by China's Wu Yan Yan 11 years ago and 2.5 seconds off her own personal best.
· Ribery penalty spoils Beckham’s big day
David Beckham's 100th international ended in defeat at the Stade de France in Paris on Wednesday as England were beaten 1-0 by France in a friendly. Bayern Munich playmaker Franck Ribery got the only goal from the penalty spot in the 32nd minute. The 32-year-old Beckham started the match to become only the fifth English player in 136 years of international soccer to achieve a century of appearances for his country.
· Levon Aronian of Armenia Amber chess tournament
Levon Aronian of Armenia won the Amber Blindfold and Rapid chess tournament after two easy draw with Hungarian Peter Leko. The Armenian finished with 14.5 points. India’s Viswanathan Anand finished overall tied sixth. The World Champion played out two draws with Loek Van Wely of Holland in the 11th and final round of the competition. Anand finished with 11 points to tie for the sixth spot with Vassily Ivanchuk of Ukraine.
· Sehwag makes memorable an otherwise ordinary match
Virender Sehwag scored the fastest triple century in the history of test cricket in the first test match against South Africa at Chennai. It is the second time that the Delhi southpaw has crossed the 300 figure. The Match, however, ended in a draw.
· FIFA agrees to adopt new WADA code
FIFA President Sepp Blatter has signed an agreement to adopt the World Anti-Doping Agency's (WADA) revised drug-testing code. The agreement was reached after Blatter met the new head of WADA, John Fahey, at the FIFA's headquarters in Zurich. The new code allows more flexibility in the penalties imposed on athletes. FIFA is expected to ratify the code in full at its annual congress in Sydney in May. The code comes into force in January 2009.
· Raikkonen wins Malaysian Grand Prix
Sepang: Ferrari's Kimi Raikkonen cruised through to a Malaysian Grand Prix win at Sepang on Sunday. Raikkonen seized the win by finishing ahead of BMW Sauber's Robert Kubica and McLaren's Heikki Kovalainen.
a. Singles – Men
Sixth-seeded American Andy Roddick captured his 25th career ATP singles title and second trophy in three weeks with a 6-7(8), 6-4, 6-2 victory over unseeded Spaniard Feliciano Lopez in one hour and 55 minutes at the Barclays Dubai Tennis Championships on Saturday. Roddick, who didn't lose his serve in five matches this week, hit 22 aces to extend his perfect record to 4-0 against Lopez.
In what was arguably the most exciting two weeks in the 16 year history of the Barclays Dubai Tennis Championships, the tournament saw not one, but both, long-standing champions lose their crowns as first Justine Henin and then Roger Federer fell to early defeats.
a. Doubles – Men M Bhupathi/M Knowles beat M Damm/P Vizner 7-5 7-6(7)
a. Singles - Women
Elena Dementieva came out on top in the all-Russian final beating Svetlana Kuznetsova to win the Dubai Championships. Eighth seed Dementieva came from a set down to claim a 4-6 6-3 6-2 victory. The victory marked the ninth WTA title for Dementieva. The 26 Year old Russian was appearing in her first final since winning at Moscow in October last year. For second seed Kuznetsova, it was her second loss in the finals at Dubai. She was beaten by Justine Henin in 2004.
a. Doubles – Women C Black/L Huber beat Z Yan/J Zheng 7-5 6-2
· Indian Hockey Team Out Of Olympics
Santiago: For the first time in 80 years, India's dream of qualifying for the Olympic were dashed last evening when Britain defeated it 2-0 in the final of the World Hockey qualifying tournament at the prince of Wales Country Club. Eight time gold medallists India, who needed to win the six-team competition to qualify for the Beijing Olympics, failed to make it to the Olympics.
· Loeb wins in Mexico for third successive year
Santiago: For the first time in 80 years, India's dream of qualifying for the Olympic were dashed last evening when Britain defeated it 2-0 in the final of the World Hockey qualifying tournament at the prince of Wales Country Club. Eight time gold medallists India, who needed to win the six-team competition to qualify for the Beijing Olympics, failed to make it to the Olympics.
· Loeb wins in Mexico for third successive year
France's Sebastien Loeb won Rally Mexico for the third year in a row on Sunday to cut Mikko Hirvonen's championship lead to a single point. The 34-year-old Citroen driver, chasing his fifth successive world title this season, beat Australian Chris Atkinson by one minute 6.1 seconds.
· Torres named player of the month
Liverpool striker Fernando Torres was named the English Premier League player of the month having scored seven goals for the 'Reds' in the last four weeks. The award comes on the back of the Spaniard’s hat-trick in Wednesday’s 4-0 win over West Ham United. In his 25 appearance in this season, Torres has so far scored 18 goals and Liverpool manager Rafael Benitez expect him to continue with the same form throughout the remaining season.
· Federer beats Sampras in an exhibition match
Current world number one Roger Federer defeated former number one Pete Sampras 6-3, 6-7, and 7-6 in an exhibition match in New York. The 26 year old is just two short of Sampras' record of 14 Grand Slam singles titles but was coming off a first-round loss in Dubai. It was the fourth time the two had played an exhibition, with Federer having won two out their previous three matches.
· Gebrselassie opts out of the Olympic’s Marathon
Marathon World record holder, Haile Gebrselassie says he will not run in the marathon at the 2008 Beijing Olympics because of the city's air pollution levels. Gebrselassie suffers from asthma and missed the 2007 London Marathon because of the problem. The 34-year-old expressed that he would try to qualify for the 10,000m event in Beijing. Gebrselassie has set 26 world records during his career.
· Hamilton wins Australian Grand Prix
McLaren star Lewis Hamilton stamped his name on the 2008 formula one season when he led the Australian Grand Prix from start to finish. It’s Hamilton's fifth victory in just 18 Grand Prix starts.The 23-year-old Briton blasted away from pole position and won by 5.4 seconds from the BMW of Nick Heidfeld and the Williams of Nico Rosberg, who claimed his first podium.
· PACIFIC LIFE OPEN
Third seeded Serb Novak Djokovic assumed the role of spoiler on Sunday in Indian Wells, preventing Mardy Fish(who stunned Roger Federer in the semi finals) from completing his dream run at the 2008 Pacific Life Open as he defeated the unseeded American 6-2, 5-7, 6-3 in the men’s final.
· Torres named player of the month
Liverpool striker Fernando Torres was named the English Premier League player of the month having scored seven goals for the 'Reds' in the last four weeks. The award comes on the back of the Spaniard’s hat-trick in Wednesday’s 4-0 win over West Ham United. In his 25 appearance in this season, Torres has so far scored 18 goals and Liverpool manager Rafael Benitez expect him to continue with the same form throughout the remaining season.
· Federer beats Sampras in an exhibition match
Current world number one Roger Federer defeated former number one Pete Sampras 6-3, 6-7, and 7-6 in an exhibition match in New York. The 26 year old is just two short of Sampras' record of 14 Grand Slam singles titles but was coming off a first-round loss in Dubai. It was the fourth time the two had played an exhibition, with Federer having won two out their previous three matches.
· Gebrselassie opts out of the Olympic’s Marathon
Marathon World record holder, Haile Gebrselassie says he will not run in the marathon at the 2008 Beijing Olympics because of the city's air pollution levels. Gebrselassie suffers from asthma and missed the 2007 London Marathon because of the problem. The 34-year-old expressed that he would try to qualify for the 10,000m event in Beijing. Gebrselassie has set 26 world records during his career.
· Hamilton wins Australian Grand Prix
McLaren star Lewis Hamilton stamped his name on the 2008 formula one season when he led the Australian Grand Prix from start to finish. It’s Hamilton's fifth victory in just 18 Grand Prix starts.The 23-year-old Briton blasted away from pole position and won by 5.4 seconds from the BMW of Nick Heidfeld and the Williams of Nico Rosberg, who claimed his first podium.
· PACIFIC LIFE OPEN
Third seeded Serb Novak Djokovic assumed the role of spoiler on Sunday in Indian Wells, preventing Mardy Fish(who stunned Roger Federer in the semi finals) from completing his dream run at the 2008 Pacific Life Open as he defeated the unseeded American 6-2, 5-7, 6-3 in the men’s final.
Serb Ana Ivanovic came into the 2008 Pacific Life Open with the added pressure as the No. 1 seed and, at the end of the fortnight, rightfully finished as the last woman standing. She claimed her first trophy in Indian Wells with a 6-4, 6-3 win over No. 2 seed Svetlana Kuznetsova in Sunday’s final, relegating the Russian to runner-up status for the second straight year.
· CANARA BANK WTA BANGALORE OPEN 2008
· Singles – Final
Serena Williams defeated of Patty Schnyder 7-5 6-3 to win the her first singles title of the season by winning the final of the Canara Bank WTA Bangalore Open tennis championship.
· Doubles – Final
S Peng(CHN) / T Sun(CHN) beat Y Chan(TPE) / C Chuang 6-4,5-7,10-8
· European PGA tour Tournaments: Ballantine's Championship
Ireland's Graeme McDowell emerged victorious in a play-off with India's Jeev Milha Singh to win the Ballantine's Championship. The 28-year-old McDowell claimed his third European Tour title and first since winning the 2004 Italia Open in a play-off.
· Indian Probables announced for Women’s Hockey Olympic qualifier
Indian Women Hockey Federation have announced a list of 22 probables for the women's hockey Olympic qualifying tournament to be held in Russia. Seasoned forward Mamta Kharb will lead the team while defender Suman Bala will be vice-captain. Only the winners of the tournament will make it to Beijing in August.
· Rice breaks 200m IM World record (Swimming)
Australia's Stephanie Rice broke the women's 200-metre Individual Medley world record clocking 2 minutes 8.92 seconds at the Australian Olympic swimming trials in Sydney. The 19 year-old trimmed 0.80 seconds from the record set by China's Wu Yan Yan 11 years ago and 2.5 seconds off her own personal best.
· Ribery penalty spoils Beckham’s big day
David Beckham's 100th international ended in defeat at the Stade de France in Paris on Wednesday as England were beaten 1-0 by France in a friendly. Bayern Munich playmaker Franck Ribery got the only goal from the penalty spot in the 32nd minute. The 32-year-old Beckham started the match to become only the fifth English player in 136 years of international soccer to achieve a century of appearances for his country.
· Levon Aronian of Armenia Amber chess tournament
Levon Aronian of Armenia won the Amber Blindfold and Rapid chess tournament after two easy draw with Hungarian Peter Leko. The Armenian finished with 14.5 points. India’s Viswanathan Anand finished overall tied sixth. The World Champion played out two draws with Loek Van Wely of Holland in the 11th and final round of the competition. Anand finished with 11 points to tie for the sixth spot with Vassily Ivanchuk of Ukraine.
· Sehwag makes memorable an otherwise ordinary match
Virender Sehwag scored the fastest triple century in the history of test cricket in the first test match against South Africa at Chennai. It is the second time that the Delhi southpaw has crossed the 300 figure. The Match, however, ended in a draw.
· FIFA agrees to adopt new WADA code
FIFA President Sepp Blatter has signed an agreement to adopt the World Anti-Doping Agency's (WADA) revised drug-testing code. The agreement was reached after Blatter met the new head of WADA, John Fahey, at the FIFA's headquarters in Zurich. The new code allows more flexibility in the penalties imposed on athletes. FIFA is expected to ratify the code in full at its annual congress in Sydney in May. The code comes into force in January 2009.
· Raikkonen wins Malaysian Grand Prix
Sepang: Ferrari's Kimi Raikkonen cruised through to a Malaysian Grand Prix win at Sepang on Sunday. Raikkonen seized the win by finishing ahead of BMW Sauber's Robert Kubica and McLaren's Heikki Kovalainen.
· World champion Stoner wins in Doha
World champion Casey Stoner won the Qatar MotoGP Grand Prix in Doha, the opening race of the 2008 season, and the first ever to be held at night under floodlights. The Australian crossed the line first ahead of Spanish pole sitter and debutant Jorge Lorenzo. The Ducati rider finished the 22-lap race in 42:36.587 seconds. Dani Pedrosa of Italy finished third.
I Love to Fight
It's amazing how quick the things can change,
Sometimes putting you in situations, nothing but strange.
The most annoying thing may be to start from the scratch.
But the good things will show that you're really on for a match.
Very seldom you get to know that the time is right.
But sometimes when you are in the grey, the other side has all the light,
It's challenging when you are a neophyte,
but it’s all about who clings on to the opportunity tight.
It's exciting when you come to know of your inner might,
which will keep you up and your chances bright.
My definition of 'CHANGE' is 'a chance for the power to ignite'.
I am a champ and I just love to fight.
A Vocab Capsule
· Banal (adj) : Very common and therefore boring.
(Syn) : Insipid, Vapid, Bland, Lifeless, Flat, Dull, Hackneyed, Watery, Trite
(When asked about the reason for his absence, he made a banal excuse of fever.)
· Tenuous (adj) : Thin, rare, slim, easily damaged
(Syn) : Weak, Shaky, Feeble, Vague
(We were only able to make a tenuous connection between the two robberies.)
· Eulogy (Noun) : a speech of praise, written praise.
(Syn) : Accolade, Commendation, Encomium, Panegyric, Exaltation
(Today, everyone sings eulogies of Sonia’s leadership skills.)
Did you know these Phrases....???
· ‘Gift of the gab’ - Fluency of speech
· ‘To prostitute for’ - To put to unworthy or wicked use
So after spending a significant amount of time here at IMA, all of us must’ve realized the importance of being a ‘Good Speaker’.
So either you are already blessed with the ‘Gift of the gab’ or you improve upon it.
And as we graduate from this place, having developed a particular skill set, we need to make sure that we never ‘Prostitute our talent for’ any unethical reason.
(Syn) : Insipid, Vapid, Bland, Lifeless, Flat, Dull, Hackneyed, Watery, Trite
(When asked about the reason for his absence, he made a banal excuse of fever.)
· Tenuous (adj) : Thin, rare, slim, easily damaged
(Syn) : Weak, Shaky, Feeble, Vague
(We were only able to make a tenuous connection between the two robberies.)
· Eulogy (Noun) : a speech of praise, written praise.
(Syn) : Accolade, Commendation, Encomium, Panegyric, Exaltation
(Today, everyone sings eulogies of Sonia’s leadership skills.)
Did you know these Phrases....???
· ‘Gift of the gab’ - Fluency of speech
· ‘To prostitute for’ - To put to unworthy or wicked use
So after spending a significant amount of time here at IMA, all of us must’ve realized the importance of being a ‘Good Speaker’.
So either you are already blessed with the ‘Gift of the gab’ or you improve upon it.
And as we graduate from this place, having developed a particular skill set, we need to make sure that we never ‘Prostitute our talent for’ any unethical reason.
Meet Steve Jobs, CEO of Apple Computer and of Pixar Animation Studios
Hello Readers!!For those of you who don't know me, my name is Steve Jobs. Here, as I've got the opportunity to introduce myself to you, I feel honoured to find a place in such a creative initiative as 'IMAge'. So today I want to tell you three stories from my life. That's it. No big deal, just three stories.
The first story is about connecting the dots. Before I was born, my biological mother decided to put me up for adoption. She strongly believed that I should be brought up by college graduates. Although my parents to be, were not that educated but she relented a few months later only when my parents promised that I would someday go to college.
17 years later, I did go to college. But I naively chose a very expensive college (Reed College) which was draining all of my working-class parents’ savings. After six months, I couldn’t see the value in it. I had no idea what I wanted to do with my life and how college was going to help me figure it out. So I decided to drop out and trust that it would all work out OK. It was scary at that time but looking back it was one of the best decisions I ever made. Now I could begin attending to the classes that interested me.
It wasn't all romantic. I didn't have a dorm room, so I slept on the floor in friends' rooms, I returned coke bottles for the 5¢ deposits to buy food with, and I would walk the 7 miles across town every Sunday night to get one good meal a week at the Hare Krishna temple. I loved it. And much of what I stumbled into by following my curiosity and intuition turned out to be priceless later on.
Let me give you one example. Reed College at that time offered perhaps the best calligraphy instruction in the country. Throughout the campus every poster, every label on every drawer, was beautifully hand calligraphed. So I decided to take a calligraphy class to learn how to do this. I learned about serif and san serif typefaces, about varying the amount of space between different letter combinations, about what makes great typography great. It was beautiful, historical, artistically subtle in a way that science can't capture, and I found it fascinating.
None of this had any practical application in my life. But ten years later, when we were designing the first Macintosh computer, it all came back to me. And we designed it all into the Mac. It was the first computer with beautiful typography. If I had never dropped in on that single course in college, the Mac would have never had multiple typefaces or proportionally spaced fonts. And since Windows just copied the Mac, it’s likely that no personal computer would have them. Of course it was impossible to connect the dots looking forward when I was in college. But it was very, very clear looking backwards ten years later.
Again, you can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.
My second story is about love and loss. I was lucky — I found what I loved to do early in life. Woz and I started Apple in my parent’s garage when I was 20. We worked hard, and in 10 years Apple had grown from just the two of us in a garage into a $2 billion company with over 4000 employees. We had just released our finest creation — the Macintosh — a year earlier, and I had just turned 30. And then I got fired. How can you get fired from a company you started? Well, as Apple grew we hired someone who I thought was very talented to run the company with me, and for the first year or so things went well. But then our visions of the future began to diverge and eventually we had a falling out. When we did, our Board of Directors sided with him. So at 30 I was out. And very publicly out. What had been the focus of my entire adult life was gone, and it was devastating.I really didn't know what to do for a few months. I felt that I had let the previous generation of entrepreneurs down - that I had dropped the baton as it was being passed to me. I met with David Packard and Bob Noyce and tried to apologize for screwing up so badly. I was a very public failure, and I even thought about running away from the valley. But something slowly began to dawn on me — I still loved what I did. The turn of events at Apple had not changed that one bit. I had been rejected,
But i was still in love with what I did. And so I decided to start it all over again.
I didn't see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life.
During the next five years, I started a company named NeXT, another company named Pixar, and fell in love with an amazing woman who would become my wife. Pixar went on to create the world’s first computer animated feature film, Toy Story, and is now the most successful animation studio in the world. In a remarkable turn of events, Apple bought NeXT, I returned to Apple, and the technology we developed at NeXT is at the heart of Apple's current renaissance. And Laurene and I have a wonderful
and loving family living together.
I'm pretty sure none of this would have happened if I hadn't been fired from Apple. It was an awful tasting medicine, but I guess the patient needed it. Sometimes life hits you in the head with a brick. Don't lose faith. I'm convinced that the only thing that kept me going was that I loved what I did. You have to find what you love. And that is as true for your work as it is for your lovers. Your work is going to fill a part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it.
My third story is about death. When I was 17, I read a quote that went something like: "If you live each day as if it was your last, someday you'll most certainly be right." It made an impression on me, and since then, for the past 33 years, I have looked in the mirror every morning and asked myself: "If today were the last day of my life, would I want to do what I am about to do today?" And whenever the answer has been "No" for too many days in a row, I know I need to change something.
Remembering that I'll be dead soon has been the most important tool for me to make the big choices in life. Because almost everything - all external expectations, pride, fear of embarrassment or failure etc. just fall away in the face of death, leaving only what is truly important. There is no reason not to follow your heart.
About a year ago I was diagnosed with cancer. I had a scan which clearly showed a tumour on my pancreas. The doctors told me this was almost certainly a type of incurable cancer, and that I should expect to live no longer than three to six months. Later that evening I had a biopsy, where they put a needle into my pancreas and got a few cells from the tumour. I was sedated, but my wife, who was there, told me that when they viewed those cells under a microscope the doctors started crying because it turned out to be a very rare form of pancreatic cancer that is curable with surgery. So I had
the surgery done and I am doing absolutely fine now.
This was the closest I've been to facing death. Having lived through it, I can now say this to you with a bit more certainty than when death was a useful but purely intellectual concept.
No one wants to die. Even people who want to go to heaven don't want to die to get there. And yet death is the destination that we all share. Sorry for being so dramatic, but it is quite true.Your time is limited, so don't waste it living someone else's life. And most importantly, have the courage to follow your heart and intuition. They somehow already know what is it that you truly want
to become. Every other thing in life is secondary to it.
When I was young, there was an amazing publication called The Whole Earth Catalog, which was one of the bibles of my generation. It was created by a fellow named Stewart Brand in Menlo Park, and he brought it to life with his poetic touch. This was in the late 1960's, before personal computers and desktop publishing, so it was all made with typewriters, scissors, and polaroid cameras. It was sort of like Google in paperback form, 35 years before Google came along: it was idealistic, and overflowing with some neat tools, skilful handwork and great notions.
Stewart and his team put out several issues of The Whole Earth Catalog, and then when it had run its course, they put out a final issue. It was the mid-1970s. On the back cover of their final issue was a photograph of an early morning country road, the kind you might find yourself hitchhiking on if you were so adventurous. Beneath it were the words: "Stay Hungry. Stay Foolish." It was their farewell message as they signed off. Stay Hungry. Stay Foolish. And I have always wished that for myself. And now, as you are about to graduate from IMA, to begin a new career in Banking, I wish the same for you.
Stay Hungry, Stay Foolish!!!
Thank you all very much.
A Place to Visit in or around the City - Sanghi Temple
Located about 25 kms from the heart of Hyderabad city is the picturesque Sanghi Nagar, an industrial suburb. Seen from several kms away is the Sanghi Temple complex with its 15 feet tall sacred Raja Gopuram. This beautiful temple complex atop the hillock Paramanand Giri beckons the faithful devotees who seek God’s infinite blessings. The aura of divinity and the verdant slope around the temple complex is panoramic and breathtaking.
As one approaches the road leading to the Paramanand Giri, a huge Maha Dwaram or gateway welcomes the visitors. A little further away, a long flight of steps leads to the entrance of the temple complex. Stone elephant heads form the banisters of the stairway. Standing at the foot of the hillock, one is awestruck to see the three Gopurams towering into the blue sky. And before ascending to the temple complex on top, one stops by at the shrine of Lord Anjaneya, son of the wind God, who is believed to guide the devotees to the abode of Gods. The red-faced Lord Anjaneya is the embodiment of death to the demons and his very name drives away all evils.Once on top of the hillock, a heavy, beautifully carved door forms the main entrance of the temple complex.
Lord Venkateswara, known as the bestower of piety and plenty is the presiding deity of the complex. The 9 1/2 feet tall idol of the deity is a true replica of the one at Tirumala and resides in the imposing sanctum sanctorum in the centre of the complex. Alankaram and abhishekam are regularly performed to the Lord at the Balaji temple.
To the right of the Balaji temple, stands the abode of Goddess Padmavathi, the consort of Lord Venkateswara. The Vimanam of Padmavathi Temple is 32 feet. Described as the epitome of love, mercy and compassion, the deity here is seated on a lotus and is also holding lotuses in her hand.Residing on the left of the Balaji temple is Lord Shiva or the "destroyer" among the trinity. This all powerful Lord is seated on a lotus with a crescent moon decorating his hair and a trident in his right hand. Standing next to the Lord is "Shakti Swaroopini" Kamalambika.
Close to the shrine of Lord Venkateswara, is the temple of Lord Rama, the symbol of man's conquest over evil. Accompanying the Lord are his faithful consort Sita, devoted brother Lakshmana and fervent devotee Hanuman, who is seated at the feet of the Lord with folded hands. The temple of Lord Vijayganapathi is next to the Rama temple. Known as the remover of all obstacles, his blessings are invoked prior to commencing any activity.
The temple opens in the early morning at 5.00 am. For one hour, Suprabhatham is done followed by archana to the deities from 6 am to 8 am. General darshan for the devotees is allowed from 8.30 am to 10.30 am. and 4 pm to 6 pm. Poojas and sevas are held between 6 pm and 8 pm. The temple remains closed between 12 am and 4 pm and after 8 pm. Weekly abhishekam is performed to the deities between 8 am and 9 am.
A visit to the Sanghi temple is indeed refreshing and leaves the visitors with a feeling of divinity
So when are you going to take the blessings of the lord at the Sanghi Temple??
As one approaches the road leading to the Paramanand Giri, a huge Maha Dwaram or gateway welcomes the visitors. A little further away, a long flight of steps leads to the entrance of the temple complex. Stone elephant heads form the banisters of the stairway. Standing at the foot of the hillock, one is awestruck to see the three Gopurams towering into the blue sky. And before ascending to the temple complex on top, one stops by at the shrine of Lord Anjaneya, son of the wind God, who is believed to guide the devotees to the abode of Gods. The red-faced Lord Anjaneya is the embodiment of death to the demons and his very name drives away all evils.Once on top of the hillock, a heavy, beautifully carved door forms the main entrance of the temple complex.
Lord Venkateswara, known as the bestower of piety and plenty is the presiding deity of the complex. The 9 1/2 feet tall idol of the deity is a true replica of the one at Tirumala and resides in the imposing sanctum sanctorum in the centre of the complex. Alankaram and abhishekam are regularly performed to the Lord at the Balaji temple.
To the right of the Balaji temple, stands the abode of Goddess Padmavathi, the consort of Lord Venkateswara. The Vimanam of Padmavathi Temple is 32 feet. Described as the epitome of love, mercy and compassion, the deity here is seated on a lotus and is also holding lotuses in her hand.Residing on the left of the Balaji temple is Lord Shiva or the "destroyer" among the trinity. This all powerful Lord is seated on a lotus with a crescent moon decorating his hair and a trident in his right hand. Standing next to the Lord is "Shakti Swaroopini" Kamalambika.
Close to the shrine of Lord Venkateswara, is the temple of Lord Rama, the symbol of man's conquest over evil. Accompanying the Lord are his faithful consort Sita, devoted brother Lakshmana and fervent devotee Hanuman, who is seated at the feet of the Lord with folded hands. The temple of Lord Vijayganapathi is next to the Rama temple. Known as the remover of all obstacles, his blessings are invoked prior to commencing any activity.
The temple opens in the early morning at 5.00 am. For one hour, Suprabhatham is done followed by archana to the deities from 6 am to 8 am. General darshan for the devotees is allowed from 8.30 am to 10.30 am. and 4 pm to 6 pm. Poojas and sevas are held between 6 pm and 8 pm. The temple remains closed between 12 am and 4 pm and after 8 pm. Weekly abhishekam is performed to the deities between 8 am and 9 am.
A visit to the Sanghi temple is indeed refreshing and leaves the visitors with a feeling of divinity
So when are you going to take the blessings of the lord at the Sanghi Temple??
Mariana Trench- The Deepest Point on the Earth
The Mariana Trench is the deepest point on the Earth’s Surface, which lies in Pacific Ocean. It is located in the north of New Guinea (11°22’N, 142°25’E), about 250 miles (400 Km.) South West of Guam, which is a part of the beautiful Mariana Islands. The Mariana Islands are the closest Pacific Island chain to Japan (approximately 2,400 Km. from Tokyo). The Island chain is 750 Km. long and Guam (U.S. Territory) is the South most Island.
The Mariana Trench is 1,554 miles long and approximately 44 miles wide. The Trench contains several deep points-called deeps, and the deepest of them all is called the CHALLENGER DEEP. Located at about 11°22’N, 142°25’E, Challenger Deep got its name from the British Survey Ship Challenger II, which pinpointed the deep water of the Mariana Islands in 1951. Then in 1960, the US Navy sent the TRIESTE, which is a mini-submarine designed to go really deep and which could withstand 16000 pounds of pressure per square Inch. It was sent to go down into the depths of the Mariana Trench just to see how far they would go. They touched bottom at 35,838 ft. /10,923 m. That means they had almost 7 miles/11 Km. of water over their heads. That makes Mariana deeper than Mt. Everest is high. As we all know Mt. Everest is the highest peak (8850 m.) in the world. Mariana is 11000 m., so we can imagine how deep it is?
When you get into the ocean (or any water body) and you start diving from the surface, the deeper you dive, the greater the pressure is on your body, because of the weight of water on top of you. This pressure is called HYDROSTATIC PRESSURE. You can get a sense of hydrostatic pressure when you get into a swimming pool and dive all the way to the bottom of the deepest end. You will feel the hydrostatic pressure against your ear drums, like they are being squeezed or pushed in. Well, you can imagine how incredible the pressure would be at the Challenger Deep, with almost 7 miles of waters overhead- its 16000 pound per square inch.
So how come the Challenger Deep is so deep?
Well, the earth’s Crust (inner layer) is not a solid piece of rock; it is a pretty thin layer, like the shell of an egg. In fact, it is made up of huge plates of thin Crust that float on the molten rock of the earth’s Mantle (inner layer). The edges of these plates slide past each other, bump into each other, and sometimes even crash. The Oceanic Crust is much heavier than the Continental Crust so when the plates crash into each other, the Oceanic plate plunges downwards toward the molten Mantle, which the lighter. Hence, the continental plates ride up over the top. The forces driving the two plates together are really intense so the underlying Oceanic plate creates a trench where it drags the edge of the Continental Crust down as it descends underneath. This is what’s happening at the bottom of the Pacific ocean of the Mariana Island.
The Challenger Deep in the Mariana Trench is very cold and highly pressurized (below a dept of 100 m. the temperature is roughly 2°or 3°C). In 1996, the remote operated Vehicle KAIKO, operated by the “Japan Marine Science and Technology Centre”, visited the Challenger Deep and recorded several marine Organisms and various Microbes. Kaiko was lost in sea in 2003, and till that date there is no surviving probe or submersible strong enough to withstand the immense pressure of Challenger Deep.
The Mariana Trench represents just one small part of the Earth’s last, great frontier. It is one of the least explored places on Earth. Less than 5% of the entire trench has been explored, yet scientists have found that the deep sea had great number of species-and the discoveries have only just begun.
The Mariana Trench is 1,554 miles long and approximately 44 miles wide. The Trench contains several deep points-called deeps, and the deepest of them all is called the CHALLENGER DEEP. Located at about 11°22’N, 142°25’E, Challenger Deep got its name from the British Survey Ship Challenger II, which pinpointed the deep water of the Mariana Islands in 1951. Then in 1960, the US Navy sent the TRIESTE, which is a mini-submarine designed to go really deep and which could withstand 16000 pounds of pressure per square Inch. It was sent to go down into the depths of the Mariana Trench just to see how far they would go. They touched bottom at 35,838 ft. /10,923 m. That means they had almost 7 miles/11 Km. of water over their heads. That makes Mariana deeper than Mt. Everest is high. As we all know Mt. Everest is the highest peak (8850 m.) in the world. Mariana is 11000 m., so we can imagine how deep it is?
When you get into the ocean (or any water body) and you start diving from the surface, the deeper you dive, the greater the pressure is on your body, because of the weight of water on top of you. This pressure is called HYDROSTATIC PRESSURE. You can get a sense of hydrostatic pressure when you get into a swimming pool and dive all the way to the bottom of the deepest end. You will feel the hydrostatic pressure against your ear drums, like they are being squeezed or pushed in. Well, you can imagine how incredible the pressure would be at the Challenger Deep, with almost 7 miles of waters overhead- its 16000 pound per square inch.
So how come the Challenger Deep is so deep?
Well, the earth’s Crust (inner layer) is not a solid piece of rock; it is a pretty thin layer, like the shell of an egg. In fact, it is made up of huge plates of thin Crust that float on the molten rock of the earth’s Mantle (inner layer). The edges of these plates slide past each other, bump into each other, and sometimes even crash. The Oceanic Crust is much heavier than the Continental Crust so when the plates crash into each other, the Oceanic plate plunges downwards toward the molten Mantle, which the lighter. Hence, the continental plates ride up over the top. The forces driving the two plates together are really intense so the underlying Oceanic plate creates a trench where it drags the edge of the Continental Crust down as it descends underneath. This is what’s happening at the bottom of the Pacific ocean of the Mariana Island.
The Challenger Deep in the Mariana Trench is very cold and highly pressurized (below a dept of 100 m. the temperature is roughly 2°or 3°C). In 1996, the remote operated Vehicle KAIKO, operated by the “Japan Marine Science and Technology Centre”, visited the Challenger Deep and recorded several marine Organisms and various Microbes. Kaiko was lost in sea in 2003, and till that date there is no surviving probe or submersible strong enough to withstand the immense pressure of Challenger Deep.
The Mariana Trench represents just one small part of the Earth’s last, great frontier. It is one of the least explored places on Earth. Less than 5% of the entire trench has been explored, yet scientists have found that the deep sea had great number of species-and the discoveries have only just begun.
SIX SIGMA
Six sigma has traditionally been described as a method used by engineers and statisticians to fine tune products and processes. It refers to a performance target of operating with only 3.4 defects per million activities or opportunities. Now, the scope has widened from a purely statistical target to encompass a cultural change as well. It improves a company's position to provide greater customer satisfaction, profitability and competitiveness.
It is therefore a comprehensive and flexible system for achieving, sustaining and maximizing business success. It is driven by a close understanding of customer needs, disciplined use of facts, data and statistical analysis with diligent attention to managing, improving and reinventing business processes.
The Six sigma process :-
· The first step to implement the 6 sigma process is identification of the problem which needs to be addressed. This process uses statistical processes and charts etc.
· After identification of the problem, the root cause has to be ascertained through analysis. It also involves predicting results.
· Next comes the optimal solution analysis and solidating the predicted results.
· After the analysis, there is defect prevention and process improvement, i.e. mistake proofing for the future.
· Last comes the formulating the quality development programs which can cover any or all of the products, services and product design.
This is a tentative process flowchart. It can be adapted according to the purpose and scale on which it is being implemented in the organization.
The Pay off from Six Sigma:-
This section will familiarize you with the advantages that accrue to organizations from implementation of the 6 sigma program.
· Wide ranged impact: Six Sigma can be applied to a wide range of activities from planning to operations to customer service. Therefore, it is a broader and more detailed process improvement method than earlier quality improvement methods in practise, for e.g. TQM.
· Flexibility: 6 sigma efforts can be modelled and designed according to the needs of the organization. It can be applied for any purpose and at any level from one department to the entire organization.
· Scope: Initially it was believed to be beneficial only for manufacturing or technical cause but now there are various tools and approaches available for non manufacturing or service industries so the scope has widened.
· From technical excellence to people excellence: It has been realised that creativity, collaboration, communication, dedication are more powerful than statistical standards alone. So, Six Sigma helps in striking a balance between accommodating people and demanding performance according to standards.
· Changing organizational environment: Six Sigma brings a smarter and new ways to run the organization. It does take an investment in time, money and energy but it also ensures big returns. There are wide ranged changes in attitude and enthusiasm from unproved processes, better information flow and learning new skills.
In companies like G.E and Motorola, the term “quality” and “Six Sigma” have become synonymous. So we can easily gauge how powerful the concept is. Today, there is unprecedented competition, constant changes in consumer taste, technology and financial conditions. Thus, to survive and succeed, companies have to provide flawless service and maintain stringent quality standards. Six Sigma plays a very important role in providing a frame work or structure to support and sustain success in this ever changing business environment. The most important question for today is not how do we succeed? But how do we stay successful? Six sigma helps companies to sustain performance levels and also improve them to both survive and succeed.
Candles are more important than the Cakes!!!
If anyone would ask me, what's important to you?
I won’t say many, but few.....
And that's the point I'll try to make,
that candles are more important than the cakes!!!
To like life more happier,
Realize the importance of little things, my dear!!
They teach you a lesson, learn it
that don’t keep the sorrows, burn it
and that's the point I'm trying to make
that candles are more important than the cakes!!!
Importance doesn't lie in the pyramids,
but in lakhs of workers’ deeds.
Importance doesn't lie in the Taj,
but in the of Shahjahan and Mumtaz.
Importance doesn't lie in the great wall
but in the small bricks, that aren't so tall.
Importance doesn't lie in the mighty Eiffel tower,
but in centuries old steels’ power.
For parents, importance doesn't lie in their son's success,
But in the first step he took by himself.
And that's the point I'm trying to make,
that candles are more important than the cakes!!!
But I don't think that you would agree to my thought,
For you, flowers are less significant than the pot.
So I just hope, you would consider the point that I was trying to make,
that candles are more important than the cakes!!!
I won’t say many, but few.....
And that's the point I'll try to make,
that candles are more important than the cakes!!!
To like life more happier,
Realize the importance of little things, my dear!!
They teach you a lesson, learn it
that don’t keep the sorrows, burn it
and that's the point I'm trying to make
that candles are more important than the cakes!!!
Importance doesn't lie in the pyramids,
but in lakhs of workers’ deeds.
Importance doesn't lie in the Taj,
but in the of Shahjahan and Mumtaz.
Importance doesn't lie in the great wall
but in the small bricks, that aren't so tall.
Importance doesn't lie in the mighty Eiffel tower,
but in centuries old steels’ power.
For parents, importance doesn't lie in their son's success,
But in the first step he took by himself.
And that's the point I'm trying to make,
that candles are more important than the cakes!!!
But I don't think that you would agree to my thought,
For you, flowers are less significant than the pot.
So I just hope, you would consider the point that I was trying to make,
that candles are more important than the cakes!!!
Simply……………… Complicated!!!
Do you think you know English? Try this one. Can you decipher this?
A research team of two proceeded towards the apex of a Natural Geologic protuberance, the purpose of their expedition being the procurement of a sample of fluid hydride of oxygen in a large vessel, the exact size of which was unspecified. One member of the team precipitously descended, sustaining severe damage to the upper cranial position of his anatomical structure. Subsequently the second member of the team performed a self rotational translation oriented in the same direction taken by the first team member.
To know what does this translate to in simple English, check the second last page............!!!!!!
You will be surprised...............
A research team of two proceeded towards the apex of a Natural Geologic protuberance, the purpose of their expedition being the procurement of a sample of fluid hydride of oxygen in a large vessel, the exact size of which was unspecified. One member of the team precipitously descended, sustaining severe damage to the upper cranial position of his anatomical structure. Subsequently the second member of the team performed a self rotational translation oriented in the same direction taken by the first team member.
To know what does this translate to in simple English, check the second last page............!!!!!!
You will be surprised...............
Contemporary Trends in Managing Human Resources
If we trace back the history of business environment, in the early years, trading patterns and markets were stable, technology was static, customers were passive, speed in getting to market was secondary, competition was limited to sectors and regions, and hierarchies were generally accepted in all walks of life. No more, since 1960’s, America and much of the rest of the world has been almost continually buffeted by change. Customers demand that businesses do it better, faster, cheaper; employees want to control more than the “Stop” button on the assembly line. The twentieth century saw nations around the world become part of the global village, with trade barriers between them reduced or removed completely. Globalization of trade and economy are taking deep roots in India. The holistic paradigm shift to a single global company has opened up new economic opportunities. Events of the last five years of the previous century have focused our attention on knowledge industries. Quality human resources have therefore become an important base with which to respond to the emerging environment. The knowledge workforce in particular has a vital role to play in the emergence of the digital economy.
A look at the trends in managing people in this dynamic industry reflects that Attracting, Managing, Nurturing talent and Retaining people has emerged to be the single most critical issue in lieu of the enormous opportunities spun off by the market. The new avatar of talent is the knowledge professional that is innovative, business savvy, quick on the uptake, has an instinctive ability to network, and possessing unbridled ambition. They are propelled by an urge to experiment, scan new avenues that can spur their creativity. The knowledge professional will gravitate to an organization that is flexible, has strong values, a robust performance ethic and provides challenging work on latest technology. This has led to companies pro actively taking measures on three fronts.
1. Companies create an organizational ambiance where talent can bloom.
2. They put in place systems that help unleash their potential, and
3. They build a reward and recognition mechanism that provides value for people.
Profound systemic changes have been seen in the way companies are structured. The concepts of leadership and managing people have undergone a radical rethink. Cubicles, hierarchies and rigid organization structures of the past have now given way to open work environment, flat structure with informality being a general rule and empowerment of individuals. Today work itself is centered around projects, which have virtual teams working on them. This work structure has led to a culture of flexi time, round the clock accessibility to the workplace. Also catching up fast is the trend of workstations at home, remote access, video-conferencing and reporting by exception. To stay one step ahead of the aspirations of their people, companies are continuously striving to provide an intellectually stimulating environment. Few examples being, in-house libraries continuous up gradation of knowledge and skills, knowledge sharing, building relationships with academia thus enabling knowledge workers to pursue multiple careers within a single company. Coming times will see sabbaticals forming part of the organization culture, corporate universities dotting the new horizon, competing companies bunching together to setup knowledge networks.
Companies today are constantly striving towards enhancing the quality of work life and also the personal life of its employees and this does not stop with the employee but gets extended to his / her family as well. In-house health clubs, yoga and meditation centers to relieve stress, sports and cultural activities, employee get-together with invitations to come over with families, day care centers and many of the like are being provided by companies.
With the increasing size of the companies, the top down communication model of yesteryears has been replaced by bottom up, cross level communication thereby encouraging people to voice their opinions and feelings. Open house sessions, mentoring, on line chats on the intranet have emerged to be the communication enablers. The new economy has given rise to a culture of working in teams. Today no job in the knowledge industry can be performed in isolation. Since working in teams is not a passing fad, companies are now designing compensation structure which rewards team performance in addition to individual performance.
To conclude, change is here to stay, and we need to understand that all the practices that are working today may not necessarily work tomorrow. Customers’ expectations, market changes and strategic decisions will derive the tools to managing the human assets.
A look at the trends in managing people in this dynamic industry reflects that Attracting, Managing, Nurturing talent and Retaining people has emerged to be the single most critical issue in lieu of the enormous opportunities spun off by the market. The new avatar of talent is the knowledge professional that is innovative, business savvy, quick on the uptake, has an instinctive ability to network, and possessing unbridled ambition. They are propelled by an urge to experiment, scan new avenues that can spur their creativity. The knowledge professional will gravitate to an organization that is flexible, has strong values, a robust performance ethic and provides challenging work on latest technology. This has led to companies pro actively taking measures on three fronts.
1. Companies create an organizational ambiance where talent can bloom.
2. They put in place systems that help unleash their potential, and
3. They build a reward and recognition mechanism that provides value for people.
Profound systemic changes have been seen in the way companies are structured. The concepts of leadership and managing people have undergone a radical rethink. Cubicles, hierarchies and rigid organization structures of the past have now given way to open work environment, flat structure with informality being a general rule and empowerment of individuals. Today work itself is centered around projects, which have virtual teams working on them. This work structure has led to a culture of flexi time, round the clock accessibility to the workplace. Also catching up fast is the trend of workstations at home, remote access, video-conferencing and reporting by exception. To stay one step ahead of the aspirations of their people, companies are continuously striving to provide an intellectually stimulating environment. Few examples being, in-house libraries continuous up gradation of knowledge and skills, knowledge sharing, building relationships with academia thus enabling knowledge workers to pursue multiple careers within a single company. Coming times will see sabbaticals forming part of the organization culture, corporate universities dotting the new horizon, competing companies bunching together to setup knowledge networks.
Companies today are constantly striving towards enhancing the quality of work life and also the personal life of its employees and this does not stop with the employee but gets extended to his / her family as well. In-house health clubs, yoga and meditation centers to relieve stress, sports and cultural activities, employee get-together with invitations to come over with families, day care centers and many of the like are being provided by companies.
With the increasing size of the companies, the top down communication model of yesteryears has been replaced by bottom up, cross level communication thereby encouraging people to voice their opinions and feelings. Open house sessions, mentoring, on line chats on the intranet have emerged to be the communication enablers. The new economy has given rise to a culture of working in teams. Today no job in the knowledge industry can be performed in isolation. Since working in teams is not a passing fad, companies are now designing compensation structure which rewards team performance in addition to individual performance.
To conclude, change is here to stay, and we need to understand that all the practices that are working today may not necessarily work tomorrow. Customers’ expectations, market changes and strategic decisions will derive the tools to managing the human assets.
Ma First Love
Oh God! Didn’t just happen something?I got stunned when the life was actually jumping.
My organised world was never that disorganised,
“I am losing my mind”, is when it's simply summarised.
The feel now is the same anywhere on the road,
My head is spinning as if it's gonna explode.
Why do I feel this way?
Somebody answer me and please take me away.
The same world looks so different now,
And it seems it'll never be the same.
Man! How can it happen?
I don't even know her name.
I wish I could shout it out.
But I know I gotta work some other way out.
Every time I get lucky to meet her,
Why is it that the 'TIME' plays the 'CHEATER'?
A lot of those times I keep running my mouth.
But why is it that those words won't ever come out?
By Golly! I fear would she ever be able to know.
My Lord! I fear would I ever be able to show.
The facet, that I want her to see in me.
The fact, that I always want her to believe in me.
When I say that this push has really come to be a shove.And this can't be anything but 'MA FIRST LOVE'.
Love any Which Ways
I was overseeing my son’s homework when my eyes fell on an article titled “Love and Lovers”. It made me grin. How many of them actually would understand that one. Well there was a time when I would swear by the article had I come across a similar write up then, but not today after all these years that drifted by, the testing times that tempered me.
For us, ours was the perfect marriage- the perfect match, the perfect love, the perfect spouse, the perfect union. Our families knew otherwise. They could pile rosters of differences, dissimilarities, “blind in love” attributes, and all other distinguished traits- save perfect. Anyways, we saw the nuptial rituals through and were then emphatically declared man and wife. It was not before long we realised it would not work out. Right from cuisines to bed linen we found our choices varied and since each of us was as obstinate as the other we replaced our shared study with two single desk corners, “our” cups- one red another black, “our” bed sheets- one white another gray.
We sensed a child would make our life simple, recover our lost love, and get “us” together for one strong reason. A baby we concluded was the panacea for all “our” woes. I remember vividly it was a glowing Tuesday afternoon when the doctor broke the news that God never wanted me to experience labour and that he wisely saw to it. A baby I shall never have I know, but a husband I would lose was something that dawned upon me later. He never let me complete- my part of the argument or my living. For him it was over eons ago. He never felt the need to bear me any longer. I will never be the wife he wanted, a woman well sound- financially and maternally.
I felt like a piece of junk. Polished for display till my limits tested and then suddenly when my value came crashing down, when I truly needed emotional support, my service was no longer needed. Before he uttered the ultimatum I moved out- out of his safely guarded terrain of which I was never the gate keeper, out of the family who treated me like a pariah in to a world where I started afresh. However the thought I could never have a family, a baby to cuddle, supervise studies, read out books to, hug the little self tight, and scalded my visceral soul.
One day, while shopping I accidentally bumped into an old friend of mine who had adopted her second child. It’s then that I realised that giving birth to a kid might get you close to God but adopting another makes you as good as him if not any less. After a few detailed talks with her and weeks of rigorous pondering I made up my mind- to invite a little being in my life, to bid my blighted woes a final farewell. I filed my papers and soon I became a single parent. It is really amusing to recollect that when happiness was just a few thoughts and a signature away it took me two full years of harrowing solitary existence to realise it.
My son was seven months old when I adopted him. He filled my voids and my white walls with bright crayons, my silence with chaotic chuckles, my neat room with silly insane toys. He taught me that he lived without knowing his parents, having no loved ones, have no security, yet having many reasons in life for a little smile and a lot more mischief. He taught me that my life was far less complicated than his. Understanding- that he was, because he asked less and observed more. I do not know who to thank. His parents for leaving him all alone in this wretched world, God for not showing any justice to this tiny being or worse to my earlier life that brought me to the brink of insanity from where I worked my way to existence.
For me he is my life. The reason I look forward to when I wind up my work early, when I rent a movie, when I get an ice cream packed. His naive questions make me feel wanted reinstating the fact that a small being in this world depends on my answers. He makes feel valuable, respected and adored. When I watch him fall asleep on his fairy tale book I realise there might be a reason why his eyes keep searching for answers when they move behind his closed eyelids because when they open they contain the twinkle which tells me he doesn’t need the answers anymore.
For us, ours was the perfect marriage- the perfect match, the perfect love, the perfect spouse, the perfect union. Our families knew otherwise. They could pile rosters of differences, dissimilarities, “blind in love” attributes, and all other distinguished traits- save perfect. Anyways, we saw the nuptial rituals through and were then emphatically declared man and wife. It was not before long we realised it would not work out. Right from cuisines to bed linen we found our choices varied and since each of us was as obstinate as the other we replaced our shared study with two single desk corners, “our” cups- one red another black, “our” bed sheets- one white another gray.
We sensed a child would make our life simple, recover our lost love, and get “us” together for one strong reason. A baby we concluded was the panacea for all “our” woes. I remember vividly it was a glowing Tuesday afternoon when the doctor broke the news that God never wanted me to experience labour and that he wisely saw to it. A baby I shall never have I know, but a husband I would lose was something that dawned upon me later. He never let me complete- my part of the argument or my living. For him it was over eons ago. He never felt the need to bear me any longer. I will never be the wife he wanted, a woman well sound- financially and maternally.
I felt like a piece of junk. Polished for display till my limits tested and then suddenly when my value came crashing down, when I truly needed emotional support, my service was no longer needed. Before he uttered the ultimatum I moved out- out of his safely guarded terrain of which I was never the gate keeper, out of the family who treated me like a pariah in to a world where I started afresh. However the thought I could never have a family, a baby to cuddle, supervise studies, read out books to, hug the little self tight, and scalded my visceral soul.
One day, while shopping I accidentally bumped into an old friend of mine who had adopted her second child. It’s then that I realised that giving birth to a kid might get you close to God but adopting another makes you as good as him if not any less. After a few detailed talks with her and weeks of rigorous pondering I made up my mind- to invite a little being in my life, to bid my blighted woes a final farewell. I filed my papers and soon I became a single parent. It is really amusing to recollect that when happiness was just a few thoughts and a signature away it took me two full years of harrowing solitary existence to realise it.
My son was seven months old when I adopted him. He filled my voids and my white walls with bright crayons, my silence with chaotic chuckles, my neat room with silly insane toys. He taught me that he lived without knowing his parents, having no loved ones, have no security, yet having many reasons in life for a little smile and a lot more mischief. He taught me that my life was far less complicated than his. Understanding- that he was, because he asked less and observed more. I do not know who to thank. His parents for leaving him all alone in this wretched world, God for not showing any justice to this tiny being or worse to my earlier life that brought me to the brink of insanity from where I worked my way to existence.
For me he is my life. The reason I look forward to when I wind up my work early, when I rent a movie, when I get an ice cream packed. His naive questions make me feel wanted reinstating the fact that a small being in this world depends on my answers. He makes feel valuable, respected and adored. When I watch him fall asleep on his fairy tale book I realise there might be a reason why his eyes keep searching for answers when they move behind his closed eyelids because when they open they contain the twinkle which tells me he doesn’t need the answers anymore.
Cheque it Out!!!
A simple cheque can sometimes leave us perplexed. We have also faced the embarrassment of our cheque bouncing because we made an error while writing it. When we open a bank account, we take our familiarity with the cheque for granted. Perhaps a checklist is in order?
Ø Forger Forger: Forger's specialise in both simple and complex signatures. We may not be able to control where our signatures lie for forgers to practice, but we can control where our cheques lie. It makes sense to guard against misuse by keeping our chequebooks safe. Counting the leaves when we get our chequebooks and keeping the book under lock and key will guard our cheques and our bank balance.
Ø Spaced out: Cheque writing is a science, though not rocket science. There should be no blank space for someone else to make any additions. It takes only a few zeros to change the amount dramatically. It is a good practise to fill in carefully, leaving no space before the start of our lines or the amount, and to draw a line across the space left after the entry is complete. A safe cheque has lines drawn and unsafe cheques have spaces.
Ø Blank trap: Never sign a blank cheque. Even if we give it to some one we trust, there is the possibility that they may loose it. Your signature should always be the last entry on the cheque after everything else is filled up.
Ø Always crossed: At the top left corner of the cheque, we draw two parallel lines. When we do this we tell the banker that the amount should be paid only into a bank account and not as cash across the counter. A crossed cheque makes it easy to track any wrong payment to an unintended beneficiary.
Ø Disable the bearer: The word bearer means that the amount can be paid to the person who presents the cheque to our bank. Always strike out the words ‘or bearer’ and cross the cheque so that it is cashed only by the one it was meant for.
Ø Samples, please! There are transactions where we are asked to attach a sample blank cheque. Typically this happens when we give payment instructions for bills, EMIs or systematic investment plans (SIPs). The blank cheque is used to verify the specified bank account number, branch and such details. Cancel the cheque by drawing thick dark lines across the body of the cheque and writing the word “CANCELLED” across it so that it cannot be used. Never sign such a cheque.
Ø Corrections galore: It is common to make errors while writing a cheque. Going by the rule book, we need to sign and attest every such change.
Ø Out of bounds: The band at the bottom of the cheque contains important numbers that enable collection of the cheque amount. The codes there are read by machines. Leave that space untouched. Don’t write any thing there.
Ø Lost and not found! If you do not receive a new chequebook within a reasonable time from registering a request, inform your bank because it could have landed in the wrong hands. If it happens that a cheque leaf is missing, report it to your bank immediately or call their customer care number and issue a “stop payment” instruction.
If you decide to close your bank account, destroy or return to the bank, the unused cheque leaves left with you. Cheque writing is a simple affair. Knowing the basics can help us imbibe best practices and guard against misuse and fraud.
Ø Forger Forger: Forger's specialise in both simple and complex signatures. We may not be able to control where our signatures lie for forgers to practice, but we can control where our cheques lie. It makes sense to guard against misuse by keeping our chequebooks safe. Counting the leaves when we get our chequebooks and keeping the book under lock and key will guard our cheques and our bank balance.
Ø Spaced out: Cheque writing is a science, though not rocket science. There should be no blank space for someone else to make any additions. It takes only a few zeros to change the amount dramatically. It is a good practise to fill in carefully, leaving no space before the start of our lines or the amount, and to draw a line across the space left after the entry is complete. A safe cheque has lines drawn and unsafe cheques have spaces.
Ø Blank trap: Never sign a blank cheque. Even if we give it to some one we trust, there is the possibility that they may loose it. Your signature should always be the last entry on the cheque after everything else is filled up.
Ø Always crossed: At the top left corner of the cheque, we draw two parallel lines. When we do this we tell the banker that the amount should be paid only into a bank account and not as cash across the counter. A crossed cheque makes it easy to track any wrong payment to an unintended beneficiary.
Ø Disable the bearer: The word bearer means that the amount can be paid to the person who presents the cheque to our bank. Always strike out the words ‘or bearer’ and cross the cheque so that it is cashed only by the one it was meant for.
Ø Samples, please! There are transactions where we are asked to attach a sample blank cheque. Typically this happens when we give payment instructions for bills, EMIs or systematic investment plans (SIPs). The blank cheque is used to verify the specified bank account number, branch and such details. Cancel the cheque by drawing thick dark lines across the body of the cheque and writing the word “CANCELLED” across it so that it cannot be used. Never sign such a cheque.
Ø Corrections galore: It is common to make errors while writing a cheque. Going by the rule book, we need to sign and attest every such change.
Ø Out of bounds: The band at the bottom of the cheque contains important numbers that enable collection of the cheque amount. The codes there are read by machines. Leave that space untouched. Don’t write any thing there.
Ø Lost and not found! If you do not receive a new chequebook within a reasonable time from registering a request, inform your bank because it could have landed in the wrong hands. If it happens that a cheque leaf is missing, report it to your bank immediately or call their customer care number and issue a “stop payment” instruction.
If you decide to close your bank account, destroy or return to the bank, the unused cheque leaves left with you. Cheque writing is a simple affair. Knowing the basics can help us imbibe best practices and guard against misuse and fraud.
FAQs
Ø Why is the date of the cheque important?
A cheque is valid for 6 months from the date of its issue. In order for it to be honoured when it is presented to the bank, adequate balance has to be available in the account.
Ø Why do some cheques have the bank account number of the payee?
It is to ensure that the money is credited only into the correct bank account.
Ø How can one track the use of cheques?
The cheque numbers have to be in serial order and we should be able to identify each transaction. Writing out the cheque number, payee, date and amount in the summary pages of the cheque book will help keeping track of the cheques we have issued.
Ø What additional precautions can be taken to prevent tampering of cheques?
A transparent sticker tape can be pasted over the amount to prevent overwriting. These practises are followed by organizations that make large number of transactions.
DID U KNOW???
Always, ensure that you have money in the bank to pay for the cheque you have issued otherwise the bank will return (bounce) the cheque and may charge for the transaction. Besides, the payee can take criminal action against you for issuing the cheque without having the funds to pay for it.
A Little story……….that teaches a lot!!!
A giant ship engine failed. The ship’s owners tried consulting the experts one after another, but none of them could figure out how to fix the engine. Then they bought in an old man who had been fixing ships since he was young. He carried a large bag of tools with him, and when he arrived, he immediately went to work. He inspected the engine carefully, from top to bottom.Two of the ship’s owners were there, watching this man, hoping he would know what to do. After examining, the old man reached with his bag and pulled out a small hammer. He gently tapped something. Instantly, the engine lurched into life. He carefully puts his hammer away. The engine was fixed!! A week later, the owners received a bill from the old man for $10000.
“What!”, the owner exclaimed. “He hardly did anything.” So they wrote the old man, a note saying, “please send us an itemized bill.”
(And guess what the breakup was???)
The man sent a bill that read:
Tapping with a hammer - Rs.2.00
Knowing where to tap - Rs.9998.00
“Effort is important, but knowing where to make an effort in your lives makes all the difference.”
Why is Stress so Stressful???
Why is everyone around talking about stress? Why is it that there are numerous seminars held to manage stress? While reading through a few stress management articles, I found understanding the techniques to manage stress and some stress models, more stressful than stress itself!
So what are we talking about here? Well, nothing technical. We’ll take a look at the brighter side.
Let’s begin with what stress is and how negative it actually is. Stress is the ‘wear and tear’ our bodies experience as we adjust to our continually changing environment. So should change be stopped? Nah, ‘change is the only constant.’ How can a constant be altered? We say stress results in feelings of distrust, rejection, anger and depression etc. Is that all about stress? Although stress has become synonymous with something bad, some stress is good for you. Every coin has two sides and so does stress.
Positive stress also known as ‘eustress’, can help compel us to action, it can result in new awareness and exciting new perspectives. It can inspire us to do our best and perform better, than if we were under no stress. Research says, ‘we are capable of peak levels of performance when under moderate amount of stress’. Looks like you don’t believe it. Let me cite an example:
Consider a situation such as taking a test or giving a presentation. Reducing your stress through preparation and careful planning leads to a more confident and competent performance. The increase in stress motivated and caused you to take action. Isn’t it?
The catch in the positive stress thinking is determining the optimal levels of stress for you. Everyone is an individual with unique requirements. An event can be distressing to one while joy to another. As an individual, you need to be aware of your stressors (stress causing factors) and your emotional and physical reactions. Becoming aware of the present moment rather than dwelling in the past or projecting into future will help you point out when it is too much for you. Once you can figure that out, you can immediately act to control excess stress.
To conclude I’ll narrate a small story. Once upon a time in a land, East of globe, there was a dancer, a dancer who danced like no other. Then as fate would have it, she met with an accident that took her legs away. Was she stressed? The physical and social inadequacies gave her more impetus to carry on her dance performances with help of prosthetic legs rather than deter her spirits. She kept her calm. She hung in there. You guessed it right. Sudha Chandran.
So, is stress really stressful???
So what are we talking about here? Well, nothing technical. We’ll take a look at the brighter side.
Let’s begin with what stress is and how negative it actually is. Stress is the ‘wear and tear’ our bodies experience as we adjust to our continually changing environment. So should change be stopped? Nah, ‘change is the only constant.’ How can a constant be altered? We say stress results in feelings of distrust, rejection, anger and depression etc. Is that all about stress? Although stress has become synonymous with something bad, some stress is good for you. Every coin has two sides and so does stress.
Positive stress also known as ‘eustress’, can help compel us to action, it can result in new awareness and exciting new perspectives. It can inspire us to do our best and perform better, than if we were under no stress. Research says, ‘we are capable of peak levels of performance when under moderate amount of stress’. Looks like you don’t believe it. Let me cite an example:
Consider a situation such as taking a test or giving a presentation. Reducing your stress through preparation and careful planning leads to a more confident and competent performance. The increase in stress motivated and caused you to take action. Isn’t it?
The catch in the positive stress thinking is determining the optimal levels of stress for you. Everyone is an individual with unique requirements. An event can be distressing to one while joy to another. As an individual, you need to be aware of your stressors (stress causing factors) and your emotional and physical reactions. Becoming aware of the present moment rather than dwelling in the past or projecting into future will help you point out when it is too much for you. Once you can figure that out, you can immediately act to control excess stress.
To conclude I’ll narrate a small story. Once upon a time in a land, East of globe, there was a dancer, a dancer who danced like no other. Then as fate would have it, she met with an accident that took her legs away. Was she stressed? The physical and social inadequacies gave her more impetus to carry on her dance performances with help of prosthetic legs rather than deter her spirits. She kept her calm. She hung in there. You guessed it right. Sudha Chandran.
So, is stress really stressful???
Invest Young
Any time is a good time to invest; but the benefits of investing in one when you are younger, are numerous. Believe it or not, if you are 25-30 and in your first job, you can buy a house and have it repaid by the time you are 40. Be debt free from then on.
When you are younger, the repayment tenure offered by banks is longer as you have age on your side. You can always make sure that the loan is paid up as your career and income rise. Also you can swap to a larger property as your career progresses.
It is advisable to buy a home early on in life when one’s financial commitments are controllable. For youngsters in their first job, it is an impressionable time. It creates a forced saving and the investment also gets time to appreciate. What’s more, you can save tax under section 80C.
How much can you afford?
Check your assured cash flows-don’t be overly optimistic and don’t borrow on optimism. Provide sufficiently for your monthly expenses. Keep some margin for unexpected bills. Leave some aside for interest rate fluctuations and emergencies. A good thumb rule is to keep at least 50-60% of your income for all these expenses and repay EMIs from the balance. An advantage while investing young would be, if your income increases, your repayment capacity also improves.
Loan eligibility:
An applicant’s repayment capacity is the most crucial determinant of his loan eligibility. If a borrower doesn’t have sufficient funds to make repayments, it is a worrisome situation for both the borrower and the lender. The thumb rule goes that the EMI of your home loan must not exceed 40% of your gross monthly income. This way you can meet your other monthly expenses and commitments; yet sail smoothly through the debt period. The other assets and savings that you own will indicate to the bank that you have other resources to fall back on in times of financial crunch. Your credit history details will reassure the lender that you will not default.
The simplest technique to enhance loan eligibility is by clubbing incomes of spouse. If the income of father, mother or son is pooled in the family income then also it enhances the loan eligibility. Enhance your home loan eligibility by opting for a higher tenure. The EMI that is due declines as the tenure increases.
When computing your loan eligibility, the lender simply wants to ensure that you can comfortably repay the loan amount. In a nutshell, repayment capacity is based on applicant’s income, assets, liabilities, job stability and credit history.
When you are younger, the repayment tenure offered by banks is longer as you have age on your side. You can always make sure that the loan is paid up as your career and income rise. Also you can swap to a larger property as your career progresses.
It is advisable to buy a home early on in life when one’s financial commitments are controllable. For youngsters in their first job, it is an impressionable time. It creates a forced saving and the investment also gets time to appreciate. What’s more, you can save tax under section 80C.
How much can you afford?
Check your assured cash flows-don’t be overly optimistic and don’t borrow on optimism. Provide sufficiently for your monthly expenses. Keep some margin for unexpected bills. Leave some aside for interest rate fluctuations and emergencies. A good thumb rule is to keep at least 50-60% of your income for all these expenses and repay EMIs from the balance. An advantage while investing young would be, if your income increases, your repayment capacity also improves.
Loan eligibility:
An applicant’s repayment capacity is the most crucial determinant of his loan eligibility. If a borrower doesn’t have sufficient funds to make repayments, it is a worrisome situation for both the borrower and the lender. The thumb rule goes that the EMI of your home loan must not exceed 40% of your gross monthly income. This way you can meet your other monthly expenses and commitments; yet sail smoothly through the debt period. The other assets and savings that you own will indicate to the bank that you have other resources to fall back on in times of financial crunch. Your credit history details will reassure the lender that you will not default.
The simplest technique to enhance loan eligibility is by clubbing incomes of spouse. If the income of father, mother or son is pooled in the family income then also it enhances the loan eligibility. Enhance your home loan eligibility by opting for a higher tenure. The EMI that is due declines as the tenure increases.
When computing your loan eligibility, the lender simply wants to ensure that you can comfortably repay the loan amount. In a nutshell, repayment capacity is based on applicant’s income, assets, liabilities, job stability and credit history.
Are you Response-Able?
“When something goes wrong, we can either choose to act responsibly or resentfully.”
Many must have read this quote in school or in a newspaper.But how many of us have actually stopped and given it a thought to imbibe it? How many of us have ever tried to connect it to our lives and our big and small decisions?........Well, not many.
Now, lets try to understand this simple concept and see why its so important. Whenever something happens, we react to that situation. But between the occurrence of a situation and our reaction lies a small space. That small space contains our choice, the choice to react positively or negatively.
Yes, we can always choose the way we react to any situation. It would be wrong to say that a particular situation made me behave like that or it changed my attitude. We can choose the way we want to behave or mould our attitudes. We are what we want to become.
Mahatma Gandhi never gave in to any situation created by the British. He chose his actions and decisions and stood by them. If he can do this, then why can’t we?
This response ability gives rise to what we call as being “responsible”. This ability to make a choice is the stepping stone to forging our characters. The habit of taking impulsive decisions is a step towards self-destruction.
So, before becoming a people’s manager, we must learn to manage our self because personal management comes first and is rather a foundation for a successful team management.
So are you response-able?
The choice is yours….......
Many must have read this quote in school or in a newspaper.But how many of us have actually stopped and given it a thought to imbibe it? How many of us have ever tried to connect it to our lives and our big and small decisions?........Well, not many.
Now, lets try to understand this simple concept and see why its so important. Whenever something happens, we react to that situation. But between the occurrence of a situation and our reaction lies a small space. That small space contains our choice, the choice to react positively or negatively.
Yes, we can always choose the way we react to any situation. It would be wrong to say that a particular situation made me behave like that or it changed my attitude. We can choose the way we want to behave or mould our attitudes. We are what we want to become.
Mahatma Gandhi never gave in to any situation created by the British. He chose his actions and decisions and stood by them. If he can do this, then why can’t we?
This response ability gives rise to what we call as being “responsible”. This ability to make a choice is the stepping stone to forging our characters. The habit of taking impulsive decisions is a step towards self-destruction.
So, before becoming a people’s manager, we must learn to manage our self because personal management comes first and is rather a foundation for a successful team management.
So are you response-able?
The choice is yours….......
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