Showing posts with label IIPM SATBARI CAMPUS. Show all posts
Showing posts with label IIPM SATBARI CAMPUS. Show all posts

Monday, October 08, 2012

A piece on Israeli grandmothers!

And on why mothers and grandmothers of this great nation play a critical role in the Israeli-Russia spar

Since August 28, 2008, almost all western media in some or the other form, are criticising Russia’s decision of recognising the independence of Abkhazia and South Ossetia [once considered part of Georgian influence] by considering it Russian-occupied territories. Not only have both Fortune and Economist featured Russia’s growing influence on their cover stories in the last few weeks, even global leaders have suddenly started recognising that Russia still exists. In sarcastic criticism, US Secretary of State Condoleezza Rice expectably showed her support to Georgia and warned Russia, “In contrast to Georgia’s position, Russia’s international standing is worse now than at any time since 1991...” How interesting dear Ms. Rice that you use that year as an example, for we believe that for the first time since 1991, Russia is finally regaining its rightful position on the world platform. And please Ms. Rice, neither you nor your favourite ‘Kiss Army’, of whom you are a self-confessed die-hard fan, are even an iota interested in what happens in Georgia, are you ma’am?

But what we wish to impetuously implicate out here, and what has been missed out by a majority of media in the process has been the emergence of a strange spar between Israel and Russia over the Georgian war! Analysts and experts in both Israel and Russia are bombarding each other with anti-Russian and anti-Israel statements respectively. Even in the media, while on one hand, Israeli press is accusing Russia of increasing its arm trade with the Middle East, on the other hand, the Russian media is leaving no stone unturned to prove the presence of arms and Israeli training hubs in Georgian land. And now, gravely serious political leaders allege that Russia’s nuclear fuel supply to Iran’s Bushehr nuclear plant is an initiative against Israel and Georgia. The question is, why is Israel suddenly getting into the benign act of protecting Georgia?


Source : IIPM Editorial, 2012.

For More IIPM Info, Visit below mentioned IIPM articles.
 
IIPM : The B-School with a Human Face


 
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Saturday, October 06, 2012

“In HP we look at Two Dimen-Sions, Reach and Richness”

Philip Mckinney, VP & CTO, Personal Systems Group, HP Reveals to Neha Saraiya the Reasons for Choosing India as the Launchpad for HP’s Latest Offering – HP Dreamscreen and its Future Roadmap

B&E: You come from a telecom background. Considering that telecom is one of the fastest growing sectors in the world, how do you think that the sector’s scenario has changed across the globe over the past 2 decades?
Philip McKinney (PM): I was associated with the telecom industry for almost 20 years in my previous job. Regarding my contribution to Indian telecom industry, I had actually built the first GSM operator in Kolkata back in 90s. But, the scenario has changed tremendously since then. From a standpoint, what used to be a novelty has now become a key aspect of infrastructure for the countries and societies to be competitive. Thus, delivering to the mass has become really important and necessary.

B&E: But this growth in telecom has brought in a huge change in the personal systems segment. Your opinion.
PM: I think the reality at present is that all the devices are connected. 5 years ago, there would be some data services on the phone that were hardly used. But now it is amazing to look at the social networking sites and the way they have shaped up. Actually, it’s quite funny. If you consider the laptops 5 years back, the mobility was only from table to the bed. But over time, it has completely changed. As a result size, weight, battery... everything has become critical as everyone wants to be online always. It’s almost like an addiction. Here, being offline has become a state where people don’t know how to operate. And it’s all because of the mobile products.

B&E: In the Indian context, 90s was the phase when computers came into the country. Then, they were replaced by laptops, notebooks, netbooks and now tablets are making an entry. So where do you see this profile heading?
PM: In HP we look at it in 2 dimensions. One is ‘reach’ and the other is ‘richness’, be it any product created by us. What has happened in the past 24 months is a journey in order to bridge the gap between a mobile phone and the PC. Like some people came in the market with a 7 inch netbook stating that a small netbook is better. So the question is how the segment will look like in coming times. What we predict is that sleeks (notebooks, netbooks, tablets, e-reads et al) will see an explosion in the number of devices. But the reality is that every consumer has a different need. So, rather than forcing the consumers to do a trade-off, the ultimate objective should be to build those devices that are suiting consumer needs. Like, I can’t put a 50 inch screen inside my pocket. I need a smaller one for that but at the same time I don’t want to compromise with the features. So technically speaking, we have to decompose the computers in a way so that they open up a whole range of new possibilities.


Source : IIPM Editorial, 2012.

For More IIPM Info, Visit below mentioned IIPM articles.
 
IIPM : The B-School with a Human Face
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Friday, October 05, 2012

Revving It Up On The New Normal

The Superbike Segment in India is beginning to open up as Incumbents and New Entrants fill up gaps in The Market. B&E’s Sanchit Verma does a Quick Stopgap Review before the Number Game Begins

Outrageous is what defines these mean machines – be it their pricing, their power quotient, their cool factor, or even their target customer. Superbikes have always enjoyed a cult position across the world among those who have them, and never have failed to get noticed by those who don’t. And India has been no exception. Bikes like Yamaha R1, Suzuki Hayabusa and Kawasaki Ninja have been painstakingly beckoning the creed of rich young and style conscious Indians of late. And they are not exactly getting disappointed, despite being high on the price factor, due in part to the high import duties. Otherwise, it is more of a smooth ride over the rough Indian landscape, since Indian home-grown manufacturers like Hero, Bajaj and TVS are still to manufacture a genuine superbike.

The market for superbikes in India was conspicuous by its absence till the earlier part of this decade. The era changed with rising urbanization and with the two wheeler sports segment, whose share in the total motorcycle market has grown to 17% in 2009-10 (from 14% in the previous financial year). Yamaha initially disappointed bikers with its products, which somehow didn’t give the owners the ‘Yamaha’ global brand experience. But bygones became bygones with the launch of the R15, which helped Yamaha rebuild its sporty image. Interestingly, when Yamaha brought to India their global favourites R1 and V-Max for a test sale to the Indian customers, they sold a surprisingly high 50 units in 3 months. Soon, other global players realised that the Indian market has matured enough to take on these high-end machines. Players like European major Aprilla have already announced big plans to re-enter the market with their motorcycles and scooter line up. Ducati opened its second showroom last year in Gurgaon with bikes ranging from Rs.1 million to 4.5 million in the portfolio. “We have received a positive response from all bike enthusiasts and it’s good to know they are excited about the Ducati brand. We feel honoured to be part of the evolving motorcycle industry in India,” said Mirko Bordiga, CEO, Ducati, APAC.

Bajaj also has understood the importance of a luxury bike in the portfolio. They have tied up with European major KTM Motors, and their product might hit Indian roads in 2011. Kawasaki also brought in the famous Ninja, which has received an enthusiastic response. Suzuki introduced the Hayabusa with proper service and spares parts availability. Never too late Harley-Davidson announced its much awaited cruiser bike entry by launching 12 bikes in the portfolio ranging from Rs.6.75 lakh to Rs.3.5 million. In fact, their recent plans to open up the CKD plant in Haryana showcases the rising demand in the industry.


Source : IIPM Editorial, 2012.
For More IIPM Info, Visit below mentioned IIPM articles.
 
IIPM : The B-School with a Human Face
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Monday, September 10, 2012

Follow the Sun Tzu way

Lakshmi Vilas Bank is planning to grow purely on secured lending. That kind of risk aversion is not only rare but is quite strange given the industry in which the bank operates. But does such a strategy really work? B&E runs through the bank’s top management to understand the answers.

83years, 58,000 shareholders and 1.64 million customers, yet the predominantly south-based Lakshmi Vilas Bank (LVB), which wants to spread its footprints across the nation and become a strong name in the retail lending space, is not ready to take the risk of unsecured lending including credit cards and personal loans. When we heard this rare and stringently risk averse premise of doing business in the banking industry, our first assumption was that it was a joke. Obviously, it wasn’t; but be that as it may, we did realise that there was a well endowed case study in the making, and grabbed the opportunity to go through the bank’s operations and top management’s strategic intent to understand the nature of the beast.

Amazingly so, the bank’s (over) conservative approach has resulted in an unexpected 52.71% growth in operating profit in the last fiscal. This is one of the best amongst various South Indian banks. LVB’s financial results can fox even the most discerning critic. Not only did LVB’s interest income jump by 38.28% to Rs.9.09 billion in the financial year 2009-10 from Rs.6.57 billion in the year ago, its total income too grew by a strong 32.47% to Rs.10.12 billion in the last fiscal.

And then comes the paradox. If a bank is so risk averse, its NPAs should be at historic lows, right? Wrong! LVB has some of the highest and most worrying NPA levels in the banking industry. For starters, LVB has managed to reduce both its gross and net NPA levels to 4.27% and 3.31% respectively from 5.12% gross NPA and 4.11% as of March 31, 2010. But, going by industry norms, the figures are still very high. For that matter, other South Indian banks like Karur Vyasa and Catholic Syrian Bank – two which B&E covered in its previous issues – are operating at a net NPA to net advance ratio of less than 1.5%. In fact, the NPA ratio was one of the biggest reasons for a sharp 38.82% drop in LVB’s net profit last year despite the earlier mentioned income growth.

The bank, which kept aside Rs.585 million as provisions and contingencies in FY’09, had to increase the same by a mammoth 131% to Rs.1.35 billion in FY’10. However, the bank, which is now investing on process changes and credit monitoring to improve credit quality of its asset portfolio, is seemingly confident that they will be able to bring down the NPA level to below 1% within the next 18 months. P. R. Somasundaram, MD & CEO, LVB, accepted to B&E, “The bank’s credit monitoring and recovery efforts have been very reactive in the past. Now we are keen on making it highly pro-active.” But then, as Vaibhav Agarwal, VP – Research, Angel Broking points out, “Despite the negative effect on the NPA front, smaller banks like LVB still need to lend to riskier segments as this is the way they can improve their overall earnings and deposit base, leading to an overall reduction in the bank’s deposit cost.”


Source : IIPM Editorial, 2012.
For More IIPM Info, Visit below mentioned IIPM articles.
 
IIPM : The B-School with a Human Face
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Saturday, September 08, 2012

Michael Douglas is back!

Gordon Gekko made a rasping comeback in the Wall Street sequel, Money Never Sleeps, but what was an even more emphatic comeback was that of Michael Douglas against cancer. Diagnosed with a stage four tumour in his throat a couple of months back, Michael recently wrapped up his last chemo session and is now set for six weeks of rest and recovery. For life, greed is good.


Source : IIPM Editorial, 2012.
For More IIPM Info, Visit below mentioned IIPM articles.
 
IIPM : The B-School with a Human Face
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Tuesday, September 04, 2012

IT IS TIME THAT OUR GOVERNMENT AT THE CENTRE LOOKS AT SOCIAL DEVELOPMENT AS ITS KEY BUSINESS!

Since the last two terms, the UPA government has come out with several development schemes – which on hindsight look very impressive. Welfare schemes under NREGA, NRHM, midday meal, universal education scheme, JNNURM and many others, not only have aimed at uplifting the underprivileged but also have had an objective of bringing about some uniformity within the existing regional and social imbalances. But then, what is being experienced is something that defies these aims and objectives. There is no doubt that these schemes have done small wonders, but these wonders are confined to select pockets of the society. For instance, if NREGA saw success in a few south Indian states, then it also saw rampant corruption in most of the other states, especially in north India. Same has been the case with most other development schemes. Great initiatives, but equally great failures!

It doesn’t take rocket science to gauge the gaps. And it is also nothing new! The nation’s development schemes would have delivered to their promise across the length and the breath of the country if and only if the state governments had not been suffering from inadequacies in their delivery mechanisms. Most of the times – rather, almost every time – it is the local (state level) bureaucracy and administration that fails to effectively execute and implement most of the national schemes. Not just that, the state governments are invariably found to be careless about preventive and precautionary communication emanating from the Centre. Recently, all the major cities of India experienced a massive outbreak of malaria and dengue. Now, in spite of regular and pre-emptive alarms from the central government, most of the state governments failed to act. So much so that a few states even found their hospitals and medical centers incapable of handling the rush. The hospitals were not only full to the brim but also lacked necessary manpower and facilities to tackle the outbreak. A similar situation is being experienced with respect to food security. There is much talk that has gone on and on about the distribution of food grains to people below the poverty line; but it seems there is still a state of complete crisis over the same. The state delivery mechanisms are so weak and porous that huge amounts of these grains find their way to the black market – or at best are found rotting in warehouses. To top it up, in spite of having grain stocks that are enough for food security, the states mostly waste time deciding whether to sell the same in the open market or through Public Distribution System (PDS), knowing very well that PDS does not have a great track record. A March 2010, CVC (Central Vigilance Cell) report concludes that corruption is pervasive in the entire chain and grains are distributed for 2-3 months only, in spite of the Centre allocating around `30,000 crores for the same!

Year after year, our annual budget allocates and disburses hundreds of crores of rupees to states for developmental programs viz. universal education, health and sanitation, agriculture reforms – to name a few. But half of the time, either the funds are returned unused or find their way to bureaucrats’ and government coffers. Recently, it was reported that the states have managed to use just 20% of the funds allocated by the Centre for the backward regions. What is worse is the fact that the biggest offenders are the states which have the maximum regional imbalances. It was also reported recently that the state of UP has indicated its failure to allocate funds for implementing the Right to Education Act, even after the Centre has agreed to bear 75% of the budgetary responsibility. The cases are endless. The Public Accounts Committee 2008-09 tabled in the House of the Manipur Assembly this July, reveals the grim fact that the state failed to achieve the target mentioned for road connectivity to rural habitations under the Pradhan Mantri Gram Sadak Yojana (PMGSY) project. Even the Comptroller and Auditor General (CAG) found out that Meghalaya’s Education Department was very inefficient with the implementation of the Sarva Shiksha Abhiyan scheme. The list of such gaps and subsequent failures goes on and on. It is incredible that most state governments most of the times still shamelessly bargain for budgets in the name of development.

The failure in implementation is just one part, the bigger worry is to know about it and still continue with it. Recently, the Economist magazine reported how the Obama and the Cameron governments in their respective nations have embarked upon a new mission to reach out to masses with their developmental schemes. They have entrusted the job of carrying out the developmental initiatives to large NGOs and social entrepreneurs with sparkling track records. Although the project is at an initial stage, it holds a huge promise. It is time that our Central government starts thinking on the same or similar lines.


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Monday, September 03, 2012

“AT THIS POINT, GEC BUSINESS IS GOING TO COME DOWN”

UTV’s Global Broadcasting division posted a remarkable turnaround in the last year. CEO M. K. Anand speaks to B&E on the favouring factors and future expansion

M. K. Anand, CEO, UTV Global Broadcasting, remarkably left another media behemoth, nee paper tiger, the Times group, to join the UTV group. B&E gets into conversation with the man who has taken UTV’s Broadcasting arm to the market with popular channels like UTV Bindass, UTV Action, UTV Movies Bloomberg UTV and UTV World Movies and finds out how he is set to take them further:

B&E: UTV Global Broadcasting is on an upward trajectory and growing faster than ever. What is the synergy driving the division?
M. K. Anand (MK): The only synergy from the corporation point of view is the brand name ‘UTV’. With the experience that Ronnie brings to the table coupled with his understanding of the Indian entertainment consumer, the trajectory has generally been up for the last 5 years in the B2C space. From a macro economic point of view, the market has taken a dip and again rebounded. What worked for us were the investment decisions that Ronnie took when other companies were cutting down. So this company decided that recession was over 6 months before the rest of the companies of our country did. That’s how we got a head-start. The growth in GRP (Gross Rating Points), which happened over the existing period was far earlier than when the recession actually got over because investment into content and distribution happened when other people were cutting down.



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Saturday, September 01, 2012

ON THE WORLD STAGE

Pawan Goenka, Ppresident, Automotive & Farm Equipment, M&M , Talks about the Group’s M&A Strategy, Future M&A plans and endeavours for a Global Presence, particularly in neighbouring China in this Exclusive interaction with B&E’s Pawan Chabra

The day Pawan Goenka, President – Automotive & Farm Equipment Sector, Mahindra & Mahindra, joined the home-grown conglomerate as General Manager (R&D) in 1993 with a solid 14 year experience of working with the Detroit giant General Motors, was the harbinger of a major transformation for M&M. Goenka not only made M&M one of the most competitive players in the SUV segment with his R&D expertise and market oriented focus, but has also been successfully leading the core automotive division for Mahindra since 2005. The UV major has been on a relentless acquisition spree over the past few years. Goenka explains the strategic propositions behind the acquisitions and the way forward to B&E.

B&E: After the failed attempt to acquire JLR from Ford Motor Company, the company has been on an acquisition spree. Be it Kinetic, Reva or Ssangyong, M&M has been able to get into major segments where it wasn’t present so far. What is the broad rationale?
Pawan Goenka(PG): The three acquisitions that you mentioned were done with three different goals in mind; the Kinetic deal was done with a view to give Mahindra a head-start in the two-wheeler business. We have used that to ramp up very quickly. The Reva acquisition was done to get an acceleration as far as the electric play is concerned. The Ssangyong acquisition is done to expand our global presence. If you notice, the product portfolio of Ssangyong complements the portfolio of Mahindra. Our primary objective is to become a global SUV maker. Also, we have always promoted green and clean electric technology and that’s where the Reva deal comes into play.

B&E: With the acquisition of Reva and the expected launch of NXR, the company will have its presence even in the small car segment. How different will be your strategy for the same?
PG: With the acquisition of Reva, Mahindra is aiming to gain presence in the electric car segment and not small car segment. Having said that, the first product i.e. NXR that we are planning to launch by the end of next year happens to be a small car, which was showcased by Reva at the Frankfurt Motor show.


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Friday, August 31, 2012

Why MPs must get a pay of Rs 5 Lakh Per Month

The credibility of our politicians is so low that the media and the public at large are sniggering at the proposal to raise the salary of MPs to `50,000 per month. Thanks mainly to their own behaviour and the brazen corruption of some of their fellowmen, we often tend to forget or ignore the fact that those are MPs and MLAs who actually perform the most important tasks in the country. For the middle class chatterati which has a ‘radical’ solution for every problem that India faces, the solution would be doing away with MPs, and perhaps even elections. Frankly, the middle class chatterati has no interest in democracy. But India cannot afford such solutions.

Given the enormity of the task they perform, I think the MPs need to be paid far more than what they get now. Look at it this way: each MP is responsible for a shareholder base of about 20 million. The actual budget of each constituency runs into hundreds of crores every year. And while district collectors and district magistrates are merely transferred for incompetence or non-performance, an MP can – and often does – actually lose his job! To that extent, an MP actually deserves a monthly salary of `5 Lakh per month. There should be an additional travel and other allowance of `1 lakh per month. That sounds preposterously high? It is not. Paying them these ‘reasonable’ salaries will cost the tax payer less than `1000 crores a year.

But as pointed out and suggested by this magazine and many others umpteen number of times, the problem is not paying generous salaries to our MPs – they deserve that for sure. The problem is with the ‘perks’ that they enjoy. That really is costly and something no elected representative of any functional democracy can demand as a right. Yes, by all means pay `6 lakh every month to our honourable MPs. But then stop giving them free housing in VIP Delhi. Just as it happens in UK, USA, Denmark, Australia and most other democracies, ask our honourable MPs to find their own houses-rented or owned. This will lead to enormous savings for the society – apart from making the MPs more connected with the citizens of India.

Just imagine what can happen to the Indian economy if the logic is extended to all politicians and all bureaucrats in India. They are squatting on the most prime real estate assets available in the country. For example, pay a district collector (an IAS officer) a monthly salary of `1 lakh and ask her to find her own house. Surely the rent for even a wonderful house in a small town cannot exceed `20,000? Why let her stay in a massive bungalow with acres of lawns when that land can be better utilized commercially? You know what the answer will be when politicians and bureaucrats are actually offered this option – huge tax free salaries but no perks. They will find every possible excuse and refuse. That is because our mindset has really not changed much since the British left. 


 
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Friday, August 24, 2012

The peculiarities of the industry and the company’s future plans

Managing Director, Godrej Nature’s Basket, talks to b&e’s angshuman paul about the peculiarities of the industry and the company’s future plans
 
B&E: How does Nature’s Basket plan to leverage from the other businesses of Godrej group?
MK: We are leveraging from various other FMCG businesses. We would be selling all our food products in the stores. However, we are yet to implement other way of leveraging. We are planning to share our retail presence or even buy retail properties together.

B&E: Frankly, do you think the Indian market is prepared for a concept like gourmet retailing?
MK: There’s a huge demand for exotic foods, especially things like dried herbs, wines, which you get only abroad or is imported into the country. This is what creates the base for gourmet retailing. Even last year, irrespective of the global slowdown, the Indian economy registered healthy growth numbers. The metro lifestyle is witnessing a change; there is a growing liking for good food and this is what makes us feel that there is a market for gourmet retailing – if not in the mass level, then in the niche category.

B&E: What are your investment plans; have you reached the break-even point as of now?
MK: We don’t believe in announcing investment figures – we invest wherever we find it’s necessary. At this time, it’s too early to comment on if whether we have reached the break-even point or not; but I should mention that we have been growing at a rate of 80% and segments like assortment retailing, wine & bear retailing have been doing phenomenally well with significant contributions towards our turnover.

B&E: It’s said that to shine in the retail industry, it’s crucial to have a sturdy base of logistics. You have paid heed to this – but how much?
MK: I think and we strongly believe that you should not open a retail store if you don’t have a logistics plan for that particular retail store. We deal with 400 importers as most of our products come from overseas; and then we have our own storage procedures ensuring the quality of the goods and its freshness are maintained.

B&E: Food Bazaar and Spencer respectively from the Future Group, and even RPG are focusing a lot on creating inhouse brands. Will you follow suit?
MK: No, not as of now. Like I said before, we don’t believe in doing things just because other players are doing it. We rolled out an inhouse brand in organic mangoes at a time when no other players were offering the same.



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Tuesday, August 14, 2012

Exclusive Darkness at noon

Dependants of jawans killed by Maoists struggle to stay afloat. A report from Orissa by B&E’s Dhrutikam Mohanty

Two years of anguish have gone by since Mase Madkami’s husband, an SGO jawan, lost his life in a landmine blast triggered by Maoists. But life hasn’t returned to normal for the 25-year-old woman. She lives in the southern Orissa village of Udupa, 25 kms. from the Malkangari district headquarters. Her hut, located in a distant corner of this tribal hamlet, has four rooms. Her husband, Ganga Madkami, was the family’s sole breadwinner. Today, the responsibility of their eight-year-old son and Ganga’s ageing parents is on Mase’s frail shoulders.

We reach her house at dusk. Her son, Sunadhar, is studying in the front room. Mase is busy cleaning a lantern. Udupa does not have electricity. In a while, the lantern will be the only source of light in this benighted home. “I never imagined I’d ever have to see such dark days,” Mase begins to narrate her tale of woes. “Five days after the incident, the chief minister handed out cheques to the families of the martyrs. He also promised each affected family a job, a plot of land and other government benefits. He had tears in his eyes. We had reason to believe that we’d be taken care of by the government.”

But Mase’s hopes were dashed. “For six months I ran from one office to another to get my dues. I finally received Rs. 4 lakh as compensation and Rs. 10 lakh for his life insurance. But I am still waiting for the promised job and land,” she says.

Her problems have increased manifold with the passage of time. She has to travel to Bhubaneswar every month to collect the family pension. Being a single lady, she is usually accompanied by somebody from the village, which entails additional expenses. At times she has to travel to the state capital more than once for the same purpose. Sometimes the officers concerned are not available. At other times, the processing of her payment is deferred. “We are illiterate poor villagers and don’t know much about government procedures. But running around like this for what was promised to me is actually hurting me more than my husband’s death,” says Mase, tears welling up in her eyes.

Given the constant drain on her limited resources, she is worried whether her son would be able to complete his education. She says, “Including my old father, I have four dependants. Tell me, how will I manage to continue paying for my son’s education?” Despite a government announcement of financial assistance for the education of the children of martyrs, Mase hasn’t received any payment. Sunadhar, on his part, wants to follow in the footsteps of his late father and join the police force. But will a heartless bureaucracy, which operates from the comfort and security of air-conditioned offices, allow this hapless boy to fulfill his dream? The story of 23-year-old Manini Devta is much the same. She had married SGO jawan, Kanhu Charan Devta in 2006. A year later, she gave birth to a baby boy. The family was a picture of happiness. But a landmine blast on July 16, 2008, at MV126 village changed everything. Kanhu died aged 26, leaving behind his young wife, one-year-old son and his old parents. Her entire life still ahead of her, Manini is struggling to survive. She stays with her in-laws in a small dwelling unit in Malkangiri’s police colony. Kanhu’s old parents have been mental wrecks ever since they saw the lifeless body of their son. Manini tells B&E, “I don’t know what to do now. Though we have received an amount as compensation, we are yet to get a piece of land or a job as promised by the government. Whatever we receive as pension is exhausted in running to different offices in the state capital. It is becoming increasingly tough for me to handle the day-to-day household expenses.”

Manini is a graduate and she expects to get a job under the government’s rehabilitation scheme. However, it has been two years now and her application, and her hope, are lost somewhere under heaps of files dumped on the desks of the babus. This system reeks of apathy at every level. It is a system that leaves a martyr’s widow at the mercy of callous government officials. Doesn’t the family of a brave young man who died fighting those that are waging war on the state deserve better?

The situation is no better for lady constable Pratima Rout, a survivor of the Nayagarh massacre masterminded by Maoists. She has been subjected to ill-treatmen, cheating and mental torture by her own department.

Pratima, who lives in a one-room rented house in Khandapada Road in Nayagarh, is only too willing to pour her heart out. Having been treated most shabbily by the police force that she belongs to, she is seeking justice, but nobody has the time or the inclination to give her a hearing. On that dark night two years ago, Pratima was in charge of the magazines house when 300 to 400 Maoists barged into Nayagarh police station firing indiscriminately. She was shot four times before she fell unconscious. She was hospitalised in a critical condition.

Hear her story. “My condition was so bad that the doctors had given up hope. I had lost a lot of blood. While those that had sustained minor wounds were discharged after treatment, I was retained as a vein in my leg was torn. I continued to lose blood. After nearly a month and 18 days, the department informed me that I won’t get any more financial assistance and that I would have pay my medical expenses. I was really taken aback. I was at my wit’s end. I had no idea how I would arrange the money.”

Though her brother went to meet the Cuttack Superintendent of Police and he assured the family that he would intervene on Pratima’s behalf, nothing happened. Pratima and her brother took loans and used up their savings. They then went back to the department seeking help as she had to undergo four different surgeries. When Pratima met the district superintendent of police, he suggested that she should apply for a loan from the Police Welfare Fund (PWF). She applied for Rs. 20,000. The money was released promptly. But Pratima soon realised that she had been lured into another trap.

Read more......

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Monday, August 13, 2012

“The biggest mistake of my life was that i believed in the stock market in 1999.”

He came, he saw, he conquered ... Subhash Chandra, the media maverick, in an exclusive conversation with B&E, shares the eventful ups and downs that he faced during his journey to the top

B&E: When was it that you realised that it’s time that you hand over your major business responsibilities to the next generation? What was it that prompted the thought?
SC: The next generation has been a part of various businesses within the group for several years. They have proved their mettle and are leaders in their own right. In fact, I feel the takeover process has actually been gradual.

B&E: What is the most defining moment of your life? Something that changed your entire life...
SC: It was the day when I was asked to leave the College of Engineering as my family could not afford the fees and expenses. If that wouldn’t have happened, life would have been on a different path.

B&E: When are you planning to take full retirement from all business responsibilities?
SC: Currently my role in the group is that of a mentor. As far as full retirement is concerned, you will surely come to know when I take this decision.

B&E: 10-15 years down the line, where do you see your group with the next generation completely in charge of all business responsibilities? 
SC: I see each company in the leadership position in their respective industries.

B&E: What is your biggest strength as a businessman?
SC: To see a business opportunity ahead of its time and back it up passionately.

B&E: What is one thing you have learned the hard way from life?
SC: Never give up. Even if you fail initially, you need to be persistent and keep trying until you succeed.

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