CARBON TRADING IN THE INDIAN CONTEXT

Yesterday, while I was going through my friends' tweets, I came across a tweet informing about something called Blog Action Day 2009, which as per them, "is an annual event that unites the world's bloggers in posting about the same issue on the same day. Our aim is to raise awareness and trigger a global discussion." (http://www.blogactionday.org)

When I checked out the site, I found that this year's topic was one of my old favorites - "Climate Change". It reminded me of my Management Research Project that I had done during my MBA days. So, I started digging through my old CDs & Zip Drives and finally found out my old research paper. I have always been wanting to post it on my blog, but procrastination always got the better of me. But now, with the deadline of 15th October and with the exciting emotion of all the blogosphere writing on one common topic; which I feel is a very wonderful idea; here I am finally sharing my research paper in a nutshell.

To cut a long story short and to avoid the boring parts of the research, I am going to share with you all only the findings and the recommendations:

Findings:

• CDM projects Reduce global warming
• More companies adopting CDM Projects
• Emissions trading allows flexibility for emitters without sacrificing the environmental objective of reducing emissions
• Emissions trading can also encourage innovation in the reduction of greenhouse gas (GHG) emissions
• India, a Non Annexure I country; huge potential

Recommendations:

a) No adequate monitoring of sustainable development and local community benefits.
- Hence, the government should ensure that there is a separate governing body which can enforce stringent rules to overcome this.
b) No reduction in actual carbon emissions
- The companies should come up with alternative sources of energy to reduce the carbon emission
c) May result in increased local concentrations of emissions - Thus, there should be a clearing house which will look after the volumes being traded
d) Price is uncertain – determined by market
- The exchange should decided a daily price range to reduce this ambiguity
e) Eucalyptus used in carbon sink projects, degrades the soil
- The government should increase the awareness among the farmers and the aggregators should try to come up with other plants which don’t do any harm to the soil

Some of the important findings by me can be explained as given below:

As India is a non-annexure I country, hence it can sell CERs to the Annexure I countries and generate profit from the trade. Looking at the increasing rate of industrialization, it can be said safely that this is a profitable option for our country to generate foreign revenue.

During the project I came to know that the plants used for carbon trading is Eucalyptus. The main problem with it is that it degrades the fertility of the soil. Thus, even though the villagers are able to generate good amount of revenues in the short term. But, if we look at the long term perspective, I feel that in the end it is not a profitable option for the villagers, as their regular crops will get them lower but constant revenue always. Whereas, in the case of eucalyptus plantations for the carbon trading, the soil after a point of time becomes infertile, rendering the farmers useless.

Finally, the "Carbon Trading" doesn’t help in reducing carbon emission, but in a way helps in covering up the emissions. So, newer and more effective ways should be used to control the carbon emissions.

Restriction on Free Access of Third Party Bank ATMs

Earlier, in April this year, RBI had brought out a directive, which gave the consumers a freedom to use ATMs of third party banks, without attracting any penalty. This was being viewed a a great start to the Financial Year and more such consumer-friendly reforms were expected over the coming months. But the news of restriction of this freedom has come as a shocker to the Indian consumers.

August 09, Reserve Bank of India (RBI) has asked the banks to impose restrictions on third part ATM usage from the middle of October 09. This step has been taken, keeping in mind the recommendations of an Industrial lobby, IBA (Indian Bank's Association).

As per the new directive, savings account holders will get 5 free third party ATM transactions per month, with a cap on withdrawal amount of Rs. 10,000 per transaction. Also, this facility won't be extended to the Current Account holders.

Thus, from now on the freedom of entering into any Bank's ATM, other than in which the customer holds an account will become restricted from 15th of October 09. This step is seen as the result of the influence IBA has over RBI, since it made RBI make a 180 degree turn on the directive rolled out by them at the start of the financial year, which was being perceived as one of the best customer-friendly moves by the central bank of the country till date.

This step of RBI has come up as a roadblock towards the implementation of new Basel Reforms that we were so eagerly waiting for. We hope that the RBI would keep in mind the consumer sentiments and give it another thought before the implementation of this new directive, or atleast increase the no. of transactions so that the effect on common man is restrained.

Swami Vivekananda's CONCLUDING ADDRESS -The World Parliament of Religions, Chicago, Sept 11, 1893

The World's Parliament of Religions has become an accomplished fact, and the merciful Father has helped those who laboured to bring it into existence, and crowned with success their most unselfish labour.

My thanks to those noble souls whose large hearts and love of truth first dreamed this wonderful dream and then realized it. My thanks to the shower of liberal sentiments that has overflowed this platform. My thanks to this enlightened audience for their uniform kindness to me and for their appreciation of every thought that tends to smooth the friction of religions. A few jarring notes were heard from time to time in this harmony. My special thanks to them, for they have, by their striking contrast, made general harmony the sweeter.

Much has been said of the common ground of religious unity. I am not going just now to venture my own theory. But if any one here hopes that this unity will come by the triumph of any one of the religions and the destruction of the others, to him I say, "Brother, yours is an impossible hope." Do I wish that the Christian would become Hindu? God forbid. Do I wish that the Hindu or Buddhist would become Christian? God forbid.

The seed is put in the ground, and earth and air and water are placed around it. Does the seed become the earth, or the air, or the water? No. It becomes a plant. It develops after the law of its own growth, assimilates the air, the earth, and the water, converts them into plant substance, and grows into a plant.

Similar is the case with religion. The Christian is not to become a Hindu or a Buddhist, nor a Hindu or a Buddhist to become a Christian. But each must assimilate the spirit of the others and yet preserve his individuality and grow according to his own law of growth.

If the Parliament of Religions has shown anything to the world, it is this: It has proved to the world that holiness, purity and charity are not the exclusive possessions of any church in the world, and that every system has produced men and women of the most exalted character. In the face of this evidence, if anybody dreams of the exclusive survival of his own religion and the destruction of the others, I pity him from the bottom of my heart, and point out to him that upon the banner of every religion will soon be written in spite of resistance: "Help and not fight," "Assimilation and not Destruction," "Harmony and Peace and not Dissension."

Source: http://hinduism.about.com/library/weekly/extra/bl-sv2.

Swami Vivekananda's WELCOME ADDRESS -The World Parliament of Religions, Chicago, Sept 11, 1893

Sisters and Brothers of America,

It fills my heart with joy unspeakable to rise in response to the warm and cordial welcome which you have given us. I thank you in the name of the most ancient order of monks in the world; I thank you in the name of the mother of religions, and I thank you in the name of millions and millions of Hindu people of all classes and sects.

My thanks, also, to some of the speakers on this platform who, referring to the delegates from the Orient, have told you that these men from far-off nations may well claim the honor of bearing to different lands the idea of toleration. I am proud to belong to a religion which has taught the world both tolerance and universal acceptance. We believe not only in universal toleration, but we accept all religions as true. I am proud to belong to a nation which has sheltered the persecuted and the refugees of all religions and all nations of the earth. I am proud to tell you that we have gathered in our bosom the purest remnant of the Israelites, who came to Southern India and took refuge with us in the very year in which their holy temple was shattered to pieces by Roman tyranny. I am proud to belong to the religion which has sheltered and is still fostering the remnant of the grand Zoroastrian nation. I will quote to you, brethren, a few lines from a hymn which I remember to have repeated from my earliest boyhood, which is every day repeated by millions of human beings: "As the different streams having their sources in different paths which men take through different tendencies, various though they appear, crooked or straight, all lead to Thee."

The present convention, which is one of the most august assemblies ever held, is in itself a vindication, a declaration to the world of the wonderful doctrine preached in the Gita: "Whosoever comes to Me, through whatsoever form, I reach him; all men are struggling through paths which in the end lead to me." Sectarianism, bigotry, and its horrible descendant, fanaticism, have long possessed this beautiful earth. They have filled the earth with violence, drenched it often and often with human blood, destroyed civilization and sent whole nations to despair. Had it not been for these horrible demons, human society would be far more advanced than it is now. But their time is come; and I fervently hope that the bell that tolled this morning in honor of this convention may be the death-knell of all fanaticism, of all persecutions with the sword or with the pen, and of all uncharitable feelings between persons wending their way to the same goal.

Source: http://hinduism.about.com/library/weekly/extra/bl-sv1.

Tweeting my way to Independence/Inter-dependence!!

First and foremost, let me wish all my fellow countrymen a very very Happy Independence Day. Well, today being one of the most important day of the year, I thought of doing something different, something which will make me feel independent......something much more expressive than my blog........something with which I wud be able to share tit-bits with all my friends......when I did some thinking, twitter was the natural choice.........So, here I am, tweeting my Independence!! To keep in touch with my tweets, you all can visit this blog of mine, or follow my tweets here: http://twitter.com/_anish

Influenza A (H1N1) / Swine Flu

Influenza A (H1N1) is an influenza virus, which has been reported as a cause of illness and death in people. It was earlier known as Swine Flu. Originating in Mexico in April 2009, the virus has since spread to many countries worldwide. Early laboratory testing showed that many genes in this virus were similar to those found in pigs of North America, which is why the illness was originally called Swine Flu. Later on, further tests proved that this virus has gene segments from the swine, avian and human flu virus genes. This led scientists to discard the previous name and rename the virus the 'Influenza-A (H1N1) Virus'. Swine Flu- More details...

Symptoms of Influenza A (H1N1)

The symptoms of Influenza A (H1N1) are similar to the symptoms of regular seasonal flu. People who have this illness may experience fever, cough, sore throat, body aches, headache, chills and fatigue. Some patients have also reported diarrhoea and vomiting.

The flu virus is thought to spread from person to person through droplets that come out of an infected person's nose or mouth when he/she sneezes or coughs. Pigs have nothing to do with this disease. Pork products are absolutely safe if properly cooked and culling of pigs is not needed.

Commons Precautions

Here are some precautions to prevent contraction of the virus -
1. Cover your nose and mouth with a tissue when you cough or sneeze. Discard the tissue after use.
2. Wash your hands thoroughly after you cough or sneeze.
3. Avoid touching your eyes, nose or mouth as germs may spread this way.
4. Stay away from close contact with people having respiratory illnesses.
5. If one displays influenza like symptoms, one must limit contact with others by staying at home. However, in case of respiratory distress, one should visit a nearby hospital without delay.
6. Take care of your health. Get plenty of sleep, exercise regularly, manage stress, drink plenty of liquids and eat wholesome food.

Medicines for the treatment of this illness are available in India. The Government has procured and stored the necessary drugs in sufficient quantities at designated hospitals. Citizens are strongly advised against procuring and taking medicines on their own, as it will lower their immunity.

The Government has also created a strategy to detect Influenza A (H1N1) cases among passengers arriving from affected countries either by air, land or sea and quarantine them. A standard process for screening, testing and treatment will be used across the country. If you have travelled from any of the affected countries in the past 10 days and display the symptoms of Influenza A (H1N1), then kindly visit a nearby hospital or contact the Outbreak Monitoring Cell at 011-23921401.

Source: http://india.gov.in/citizen/health/h1n1.

Related articles

• What is swine influenza? (prep4md.blogspot.com)
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• Swine flu: more on the cases [Effect Measure] (scienceblogs.com)
• Swine Flu: What is it, symptoms, treatment (king5.com)
• Swine flu deaths rise above 1,000: WHO (cbc.ca)
• Swine Influenza (slideshare.net)

Real Heroes of India

Another nice and inspirational forward for your reading pleasure!!

Suvendu Roy of Titan Industries shares his inspirational encounter with a rickshaw driver in Mumbai

Last Sunday, my wife, kid and I had to travel to Andheri from Bandra. When I waved at a passing auto rickshaw, little did I expect that this ride would be any different.

As we set off, my eyes fell on a few magazines (kept in an aircraft style pouch) behind the driver's back rest. I looked in front and there was a small TV. The driver had put on the Doordarshan channel. My wife and I looked at each other with disbelief and amusement. In front of me was a small first-aid box with cotton, dettol and some medicines. This was enough for me to realise that I was in a special vehicle. Then I looked around again, and discovered more -there was a radio, fire extinguisher, wall clock, calendar, and pictures and symbols of all faiths - from Islam and Christianity to Buddhism, Hinduism and Sikhism. There were also pictures of the heroes of 26/11- Kamte, Salaskar, Karkare and Unnikrishnan. I realised that not only my vehicle, but also my driver was special.

I started chatting with him and the initial sense of ridicule and disbelief gradually diminished. I gathered that he had been driving an auto rickshaw for the past 8-9 years; he had lost his job when his employer's plastic company was shut down. He had two school-going children, and he drove from 8 in the morning till 10 at night. No break unless he was unwell. "Sahab, ghar mein baith ke TV dekh kar kya faida? Do paisa income karega toh future mein kaam aayega." (Sir, what's the use of simply sitting at home and watching TV? If I earn some income, then it will be useful in the future.)

We realised that we had come across a man who represents Mumbai - the spirit of work, the spirit of travel and the spirit of excelling in life. I asked him whether he does anything else as I figured that he did not have too much spare time. He said that he goes to an old age home for women in Andheri once a week or whenever he has some extra income, where he donates tooth brushes, toothpastes, soap, hair oil, and other items of daily use. He pointed out to a painted message below the meter that read: "25 per cent discount on metered fare for the handicapped. Free rides for blind passengers up to Rs50?. He also said that his auto was mentioned on Radio Mirchi twice by the station RJs. The Marathi press in Mumbai know about him and have written a few pieces on him and his vehicle.

My wife and I were struck with awe. The man was a HERO! A hero who deserves all our respect. I know that my son, once he grows up, will realise that we have met a genuine hero. He has put questions to me such as why should we help other people? I will try to keep this incident alive in his memory.

Our journey came to an end; 45 minutes of a lesson in humility, selflessness and of a hero-worshipping Mumbai - my temporary home. We disembarked, and all I could do was to pay him a tip that would hardly cover a free ride for a blind man.

He has got a first aid box on the left and a newspaper box on right (which had all hindi-english- marathi-gujrati and economic times)

He has got a tv on the top with cable (I was watching colors channel) and below that is a tissue box. On the left is the mandir types with "Only gandhigiri" written there, below that is a calender and a notepad and pen along with a blue fan (which is blowing towards the customer who sits)

"25% discount for handicapped !!" who on this earth can expect something like this from an rickshawala yaar!!

Its amazing there are ppl still alive like him in this world!

I hope, one day, you too have a chance to meet Mr Sandeep Bachhe in his auto rickshaw - MH-02-Z-8508

From an INFOSCION to a POLITICION

This is a hilarious forward I got today, couldn't help sharing it to you all.........so, go ahead and enjoy it......

Nandan Nilekani's brief of his first day in parliament!

Continuing my tryst with capturing the life and times of Nandan Nilekani in his new avatar as a Cabinet Minister, here is what he had penned after his first day in the Parliament. The last entry stopped when the House was just about to begin. Let's see what happened thereafter….
The House was in pin drop silence. I was brimming with anticipation and excitement!!!! Manmohan had informed me that my introduction was one of the important points of the agenda. I hoped that I will be able to make my speech properly. After so many interviews and conferences, I was nervous today!!!! After the Speaker indicated that the proceedings of the House could begin, Manmohan formally introduced me to the entire House. He mentioned that as the head of the Unique Identification Authority of India, I was responsible to ensure that each and every Indian had a digital smart card as a proof of his existence.
Manmohan spoke about why I was selected and also some references to the various projects executed by me in Infosys were mentioned. The House listened with rapt attention. I was asked to say a few words and I did exactly the same!!! I thanked the Government of India for having given me this opportunity and I assured the House that I would strive to successfully deliver this project. The Speaker then formally inducted me into the House and before the proceedings could move any forward, there was a small commotion on the other side of the hall.
It was Minister of Textiles who had a comment to make before the next point on the agenda. He made a request that I should be attired in a more austere way instead of a flashy suit. It did not go well with the image of a minister who should live to serve the common man and should be less ostentatious in his habits. I stood up to reply. I offered my apologies to the Honourable Minister and assured that I shall be in a more acceptable dress next time. I felt that he was right. We also used to have corporate dress code in Infosys. So it's here as well!!!!
I sat down and felt somebody nudging me. I turned around and to my surprise; it was the former Indian skipper and one of my favourite batsman Mohd. Azharuddin. I remembered that he had recently won the elections. I smiled at him and mentioned to him that I used to like his game very much, shaking his hand. No Rolex, I noticed. Azhar told me that he would "fix" me an appointment with an Italian designer who had designed his dapper Kurta suit. An Italian designer in Milan doing Kurtas!!!!! I made a note of this and reminded myself to give this example to Friedman for his next book," The World Markets are flattened".
Since there was no doubt about the "Fixational" capacities of Azhar, I told him to give me the details and I would consider. The proceedings of the House went on with numerous bills being debated and passed as I sat as a passive audience waiting for my project's turn to come up. After the lunch break, it was the moment for me!!!!
MY PROJECT"S FIRST REVIEW CAME UP FOR PRESENTATION.
I was at sea. My laptop did not have any reserve power. I went to Manmohan and apprised him of the situation. I was sweating. He calmly replied that this would not be a cause of concern. I was flummoxed!!!! The Speaker asked me to explain to the House on what were my plans for the Unique Identity Project. I replied that I have a plan prepared for 30-60-90-120 days' milestones and I have presentation to make for which I need a power socket, a projector and a screen. I had no idea what was going to happen after this.
The next couple of minutes were a complete jolt for me. I was completely in a tizzy. Let me just summarize what happened. A Joint Cabinet Secretary Committee was set up to judge the feasibility of my request. The Under Secretaries for the Ministries of Power, IT and Broadcasting will prepare a Viability Report after scrutinizing National Security threats to my request. This was because the power socket comes under Power, laptop comes under IT and projector comes under Broadcasting. I have also been told to reconsider my timelines of 30-60-90 days and start thinking in terms of years. Probably, they are right. I did not have the foresight in this matter.
The summary of the issue is that I need to come up with a more inclusive, democratic, comprehensive long term plan for this project to be executed over the next five years. I have also been given a presentation slot 3 months from now (by which the issues related to the power cord etc will also be resolved). I am filled with mixed reactions. I was planning for a quick resolution; the management wants a strategic solution. I come out of the House and text Murthy.
"You won't believe it but these guys work just like us. I am on a NATIONAL BENCH for the next three months!!!!!!!!"

Exit Load waiver give MF Companies a run for their money

Ever since SEBI directive came to waive off the entry load for all Mutual Funds, Asset Management Companies (AMC) are in a hurry to close their NFOs before the deadline of 01st of August 09. Most of the comanies are closing their New Fund Options on 31st July 09. Even though the directive says that the NFOs opened before 01st of August can continue to charge entry load for the same, but the AMCs want to play a safe game and to avoid any complications leading to further confusion among investors, they are closing their NFOs by the end of July.

Even when SEBI had waived off entry load for direct applications, the AMCs had resorted to a similar behavior, but their concerns were brought to rest when the no. of direct applications accounted for only single digit percentage of all. At that time, some of the organizations had gone on to express their displeasure, stating that their objective of entering the rural market itself will be defeated by this step taken by SEBI.

Anyways, for a lazy individual investor like me who finds it too much of a task to send direct applications, its a welcome step by SEBI and it will be a further help in increasing my market investments.

Income Tax Return Filing (ITR) made easy!!

Good news for all the individual tax payers!!

Now you can fill your IT returns online and get instant Acknowledgment receipt also. No more standing in queues and no more paying commissions to intermediaries.

Just follow these easy steps to file your returns:

Step 1: Go to the site: "http://www.incometaxindia.gov.in"
Step 2: Click on the link "eFile-Income Tax Return" link at the top Left of the home page
Step 3: Register yourself once with the help of our PAN number. (Your PAN number will be your lifetime userId)
Step 4: From the Tab "e-Filing A.Y. 2009-10", select "Individual" (It will get you the ITR-1 Utility Excel Sheet)
ITR 1 Utility:
Step 5: With the help of your Form 16, fill the details in the .xls (MS Excel) sheet.
Step 6: Once the sheet is filled, click on the button "Generate XML" present on the sheet. (This will generate an XML file based on the data filled in the ITR 1 form above. Save this sheet on your local machine/computer)
Step 7: Now go back to the site once again and Log-In with the userId & password generated previously.
Step 8: Under "Submit Return", select assessment year as "A.Y. 2009-10"
Step 9: It will ask you to upload the XML file. (Upload the file generated from the previous step, that you had saved on your local machine)
Step 10: Once the upload is successful, go to "My Accounts" -> "My Returns" menu. (Here you will get your digitally signed acknowledgement of ITR) By following these 10 simple steps you can file your ITR from the safe and cozy confines of your Office. Kudos to IT Dept. for this great system they have put in place!! Happy ITR Filing!!

Life @ Bombay

My company's IT team has come of age; it doesn't allow me to send forwards. from my corporate email id (what a waste!!!); Whenever I send one, they send me a warning mail about it, with my boss in cc. So, To Hell with them, I have my blog to share all the forwards in the world that I want to.... Hope you guyz enjoy it as much as I did!!!!

Bombay has no bombs and is a harbour not a bay.
Churchgate has neither a church nor a gate. It is a railway station.
There is no darkness in Andheri.
Lalbaag is neither red nor a garden. No king ever stayed at Kings Circle .
Nor did Queen Victoria stay at Victoria Terminus.
Nor is there any princess at Princess Street .
Lower Parel is at the same level as Parel
There are no marines or sailors at Marine Lines.
The Mahalaxmi temple is at Haji Ali not at Mahalaxmi.
There are no pigs traded at Dukar bazaar.
Teen bati is a junction of 3 roads, not three lamps.
Trams used to terminate at Kings circle not Dadar* Tram Terminus (Dadar T.T.).
Breach Candy is not a sweetmeat market.
Safed Pool has the dirtiest and blackest water.
You cannot buy coal at Kolsa street.
There are no Iron smiths at Lohar chawl.
There are no pot makers at Kumbhar wada.
Lokhandwala complex is not an Iron and steel market.
Null bazaar does not sell taps You will not find ladyfingers at Bheendi Bazaar.
Kalachowki does not have a black Police station.
Hanging Gardens are not suspended.
Mirchi Gully does not sell chillies.
Figs do not grow in Anjir Wadi,
Sitafals do not grow in Sitafal Wadi,
Jackfruits do not grow at Fanaswadi
But it is true that you may get fleeced at Chor Bazaar!!!

AMCHI MUMBAI A City where everything is possible, especially the impossible.
Where lovers first love and then marry,
Where there is place for every Tom, Dick and Harry
Where telephone bills make a person ill, Where a person cannot sleep without a pill.
Where carbon-dioxide is more than oxygen, Where the road is considered to be a dustbin, Where college canteens are full and classes empty, Where Adam teasing is also making an entry, Where a cycle reaches faster than a car, Where everyone thinks himself to be a star, Where sky scrapers overlook the slum,
Where houses collapse as the monsoon comes,
Where people first act and then think,
Where there is more water in the pen than ink,
Where the roads see-saw in monsoon,
Where the beggars become rich soon,
Where the roads are levelled when the minister arrives,
Where college admission means hard cash,
Where cement is frequently mixed with ash.


THINGS TO PROVE YOU'RE A BOMBAYITE.


1. You say "town " and expect everyone to know that town means south of Churchgate.

2 You speak in a dialect of Hindi called 'Bambaiya Hindi', which only Bombayites can understand.*

3. Your door has more than three locks.

4. Rs. 500/- worth of groceries fit in one paper bag.

5. Train timings ( 9.27, 10.49 etc) are really important events of life.

6. You spend more time each month travelling than you spend at home.

7. You call an 8' x 10' clustered room a Hall.

8. You're paying Rs 10,000 for a 1 room flat, the size of walk-in closet and you think it's a "steal."

9. You have the following sets of friend: school friends, college friends, neighbourhood friends, office friends and yes, train friends, a species unique only in Bombay.

10. Cabbies and bus conductors think you are from Mars if you call the roads by their Indian name, they are more familiar with Warden Road, Peddar ?Road, Altamount Road .

11. Stock market quotes are the only other thing*besides cricket which you follow passionately.

12. The first thing that you read in the Times of India is the "Bombay Times" supplement.

13. You take fashion seriously. You're suspicious of strangers who are actually nice to you.

14. Hookers, beggars and the homeless are invisible.

15. You compare Bombay to New York 's Manhattan instead of any other cities of India.

16. The most frequently used part of your car is the horn.

17. You insist on calling CST as VT, and Sahar and Santacruz airports instead of Chatrapati Shivaji International Airport .

18. You consider eye contact an act of overt aggression.

19. Your idea of personal space is no one actually standing on your toes.

20. Being truly alone makes you nervous.

21. You love wading through knee deep mucky water in the monsoons, and actually call it ''romantic'.

22. Only in Bombay , you would get Chinese Dosa and Jain Chicken.


Whatever People say and think about Mumbai but the conclusion is Mumbai is the best city in the World. It has got its own recognition where you can experience everything you want. It has got its own charm. You name it and you get it. It is the fastest city in India and one of the fastest cities in the World. Be proud to be a Mumbaikar and Be proud to be an Indian...!!!

A proud moment for India: Indra Nooyi named "CEO of the Year 2009"

Indian women have done us proud again!!
Indira Nooyi, the Chairman & CEO of Pepsico has been named the "CEO of the Year 2009" by Global Supply Chains Group (GSCG). Ever since joining Pepsico, she has been instrumental in various CSR (Corporate Social Responsibility) initiatives by her company. She's also kept the cause of "Climate Change" in her top agenda and has contributed a lot for the same. She's a true Global Citizen, setting high benchmarks for the corporate world.

Its very heartening to see that the women of India are making us proud in all the walks of life; hope this helps in changing the views of our fellow countrymen who don't consider women on par.

Cheers again to Ms. Nooyi for yet another feather in her cap!!

Air India to adopt the Low Cost Carrier (LCC) Model

Cash strapped Air India has finally decided to enter the Low Cost Carriers league. Its planning to start low cost flights in domestic routes by the end of this SEptember, thus increasing the already cut-throat competition in the LCC market.
Air India already has its presence in international LCC market, with their Air India Express flights. With the drastic decrease in the premium fliers market segment, Air India expects to reclaim its falling market share.

Also, since the LCC tickets are majorly booked via online websites, Air India is planning to revamp its currently rustic Online Booking site to make it more user-friendly and attract more customers.

Its also planning to tweak its Frequent Flier Loyalty Program to enroll more and more customers. Jet and Kingfisher have already adopted the LCC models and have been very effective in tapping his market.

Until now, Air India was the only carrier that had no representation in the LCC market, but with the change in plans, we hope that this national carrier is on its way towards better days. Amen!

Fed-Ex Delivers A "Hot" Rod to Pete

In one of the best games of tennis witnessed by the entire world, Roger Federer rose to the occasion to have his name etched on the hall of fame of Tennis, when he broke Sampras's record of 14 grand slams by winning the Wimbledon '09.

This final will be remembered as one of the best display of tennis skills by two great champions. It was the longest final ever, with 77 games being played. The match lasted over 4 hours, but neither player showed any signs of fatigue, which goes on to prove the high level of fitness of these players. The fifth/last set was longest in the history of wimbledon, spanning for 95 minutes, with the final score-line reading FedEx - 16, A-Rod - 14.

Also, with this win, Roger Federer has regained the no. 1 position. Pete Sampras was seen enjoying each and every minute of the game; even though his record was broken, he was happy that it was done by someone as good as Roger. Andy played the game of his life and proved that he had a heart of a lion. With the track record of 18-2 in favor of Federer, people were not expecting much of a fight from Roddick, but the ex-no. 1 proved all the tennis pundits wrong by raising his game up several notches and giving Federer a run for his money.

The final scoreline: "Roger Federer(2) bt. Andy Roddick(6) 5-7,7-6(8/6), 7-6(7/5), 3-6,16-14"

This final will be remembered alongwith the epic battles of Bjorn Borg & John McEnroe...............and also as the greatest finals of the Open era.

With this win, Federer has proved to his critics that he's the greatest tennis player ever. Its to be noted that it took Sampras 12 years to win 14 grand slams, but Federer won 15 in just 6 years. This just goes on to prove the difference between the level of tennis played by FedEx & the others.

After the game, Andy Roddick was quoted as saying, "Sorry Pete, I tried to hold him off"

John McEnroe, 7 grand slam winner quoted this win as, "Roger's achievement is more difficult than what Tiger Woods has pulled off. He's runnig, he's playing on different surfaces. Doesn't tiger just have to play on grass."

Pete Sampras, 14 grand slam winner & ex-record holder was quoted as saying, "In my book, he's the greatest of all time. He has his critics and people point to Rafael Nadal beating him, but for me he's the greatest. He is a legend and an icon"

Finally, describing his win, Federer said, "These are not goals you set as a little boy...This is an unbelieveable moment".

In my view, Federer sure is one of the greatest players of all times, and the greatest on grass court for sure, but I still doubt his performance on the clay court. His very banal record agains Nadal on clay court raises the question whether we can declare Federer as the greatest or not.........

But for now, let's enjoy one of the greatest player's leap into history...........

Patna better than Mumbai to start business

I came across this interesting article which I feel is a must share with you all....

This may come as a big surprise to some of you, but a World Bank study says that Patna is ahead of Mumbai when it comes to the ease of starting a business.

According to the World Bank ranking announced on Tuesday, Patna is second only to New Delhi in this regard, but way ahead of Mumbai.

Of the 17 cities that figured in the World Bank and International Finance Corporation's 'Doing Business In India 2009' report.

Of the 17 cities considered, Patna was ranked 14th, above Chennai, which stood at 15th position, while Kolkata was at the bottom of the list. Mumabi was place 16th, way below many Indian cities.

Starting a business measures the necessary steps to enable a small or medium enterprise in general commercial or industrial activities to operate legally in 17 Indian cities -- including permits, inscriptions, notifications and inspections.

The report further said doing business is the easiest in Ludhiana, followed by Hyderabad, Bhubaneswar, Gurgaon, Ahmedabad, New Delhi, Jaipur and Guwahati.

It is easier to pay taxes in Ludhiana, Jaipur and Noida, while it is difficult to do so in Chennai, Kolkata and Patna. The report ranks the cities based on seven parameters - starting a business, dealing with construction permits, registering property, paying taxes, trading across borders, enforcing contracts and closing a business.

Strangely, the World Bank rankings do not take into account the macroeconomic conditions, infrastructure, workforce skills or security.

The report said that it is easier to start and operate business in India than it was three years ago in many large cities of the country.

It said starting a business is the fastest in Mumbai and Noida, while in cost terms, business start-up is least expensive in Patna.

Paying taxes records all taxes and mandatory contributions that a medium-sized company must pay as well as measures the administration burden of paying taxes and contributions.

According to the report, that it is the easiest to export and import goods from Bhubaneswar, while it is most difficult from Gurgaon.

The report also said that compared to economies world wide, cities in India lag most in the ease of closing a business and paying taxes.

In India, where more than 90 per cent of jobs are in the informal sector, regulatory reforms can help businesses operate efficiently in the formal sector, it said.

"Reforms that cut red tape, clarify property rights, and streamline regulatory compliance, can yield big payoff for firms and workers," World Bank group financial and private sector development acting vice-president Penelope Brook said in a CII function.

Source: http://business.rediff.com/slide-show/2009/jun/30/slide-show-1-patna-better-than-mumbai.htm

King of Pop - No More!

An unrepairable damage to the Pop music world was done today, when One of the greatest musical entertainers of the century, Michael Jackson died today morning in the UCLA medical hospital. Ever since the news became public, people have been forwarding texts, logging onto the net so much so that it brought a halt to the largest search engine provider (Google) for some time.

Michael's life has been overshadowed with on going controversies, but no one can refute the fact that he was the King of Pop Music. With 13 US no. 1 singles under his belt, he can be compared with Elvis, The Beetles and other legends of music.

He was the at his peak during the 1980s with hits like Dangerous,Beat it; With his album Thriller, he rose to instant success and stardom. He was considered as the originator of Break Dance. He moonwalked into the hearts of millions of his fans, who were mourning his death all over the globe.

Its been raining heavily since early morning today in Mumbai, as if The Gods are also mourning the death of this Musical legend.

He has left a vacant space in the musical world, which cannot be filled by anyone else. His fans will remeber him not for the various controversies that followed his life, but for his great musical performances.

He was an entertainer in true sense. May his soul Rest In Peace!

Personal Vendetta???

Tech Mahindra buying out Satyam is old news now. Infact, Satyam's bee rechristened as Mahindra Satyam (How Innovative!!). Satyam also has shown profits for last FY's Q3 results. Its shares are hitting circuits, its bagging big deals. It seems like everything is getting back to normal in this IT outfit. But then suddenly, there's news of Satyam introducing Virtual Pool Program (VPP). ITs nothing but a sophisticated way of kicking out a large chunk of its non-billing associates. Associates who have been transferred to VPP will only be getting Basic & PF components of their slary, which is about 1/4th of their actual salary. Also, they will be in the VPP for the next 3-4 months; hwat happens after this time period is over, is still a secret that only the top officials know about. People weere expecting some interference, but all that was brought to rest when one of the Govt. representatives said that their work was done and now it was upto the officials of TechMahindra & Satyam to take it foreward from here.
In the first list, around 10,000 people got the mail confirming their transfer to the VPP. Another list of around 14,000 associates is expected to come pretty soon. The kind of treatment these associates are getting, all because of their being a part of the company, whose top management was involved in a fraud will make people think twice before shifting to the IT industry. My friends have reported me that their login to the various systems had been cutoff even before their receiving the notice. Also, by informing the employees of their transfer to VPP (read termination) via bulk mails will only tarnish the already soiled image of the company.

Now, Vineet Nayyer could rejoice on the fact that his company has been able to acquire one of the gems of the India IT industry, but with these harsh steps, I don't think he's going to earn many friends in the Industry. Atleast he can count me out of his friends' list. I feel he's got a personal vendetta against me. Earlier he terminated one of my siblings from his company Tech Mahindra, and now he's taken all the pains to acquire Satyam, so that he'd be able to transfer my newly wed wife to the VPP. I think he's gone too far this time and has eaten more than he can swallow. I am going to bring an end to this for once and for all. I vow to avenge my personal loss and make him pay for it. Hope you all will wish luck to me (Atleast I can expect support from the entire bench strength of the VPP)

BRIC - Answer to Global Recession??!!

Yesterday, while enjoying my share of free time at my office, with a cup of piping hot coffee in one hand and a mouse in the other, I was browsing through various websites in search of a good read, when I got my eyes on this interesting article on one of the popular indian websites. It was a survey about How Chinese they India. It was quite an interesting read. The gist of it being that 90% of the Chinese hate us! Yes, you read it right the first time, they hate us! Infact, they are scared of us. They are scared of our entrepreneures who are teaching them new tricks of the trades, which the Chinese consider themselves as expert in. They are scared of the success stories of our entrepreneures like Azim Premji, Narayanmurthy, Ambanis, Tatas, Birlas et al.

And then again there was yet another article that I had read last week, wherein, it said that China had dethroned Japan to become the biggest trade partner of India in Asia.

The latest news to do the rounds is that Russia is hosting the first ever BRIC (A term coined by Goldman Sachs economist, jim O' Neill in 2001) conference. It is to be noted that these four nations together account for 15% of the $60.7 trillion global economy. The highlights of this meeting being to propose of ways by which dependency on the US $ can be reduced. There are also speculations of proposing a common currency to safeguard their economies from diverse conditions and also to put up a fight against the Global Recession.

This combined currency reserve will also be put to effect in reducing the US $ DEPENDENCY. The impact of this informal coalition on the already crumbling US economy will be phenomenal, as all these nations account for a major chunk of the US ExIm business. Until now US has been enjoying a regulator-like role in all Global Economic issues, but with the rise of this new front, it surely faces a herculean task to enjoy the same position in future also.

In the light of the aforementioned news pieces, it seems that all is not hunky dory among these four emerging powers and only time will be able to tell how successful this union is going to be. Still, hoping for the best, I am keeping my fingers crossed, urging you all to do the same


P.S. : Russian President Dmitry Medvedev said on Tuesday, the world needed new reserve currencies. "We have to consolidate the international monetary system, not only through the consolidation of the dollar but the creation of new reserve currencies," Medvedev said at a summit of the Shanghai Cooperation Organisation (SCO) in the Urals city of Yekaterinburg.