I have been raising the concerns about the high rates of interest being charged by the Microfinance Institutions in my blogs. The scenario in AP is causing damage to the Financial Inclusion and Rural Credit (especially to poor, illiterate women in India). While all the good work being carried out by the PSBs is under scrutiny and working of the NBFCs have been streamlined for over a decade, a new issue cropped up in recent years that of MFIs.
Today's Business Line reveals the high rates (as much as 65% pa) being charged by AP based MFIs and interestingly Economic Times article is in favour of high rates. We need to wait and see what the Sub-Committee constituted by RBI is going to recommend even when AP Govt has gone ahead issuing an Ordinance last week.
Saturday, October 30, 2010
Friday, October 29, 2010
An introduction to Bandhan | Microfinance in India
My current favourite topic and also hot in discussion on account of SKS Microfinance issues at board rooms, regulators, government after more than 20 borrowers committed suicides recently.
Thursday, October 28, 2010
kabhi kabhi Amitabh full
The most memorable song........kabhi kabhi mere dil me, khayal aatha hai...........
Kabhi Kabhi climex1
The Second Serious Encounter in Kabhi Kabhi - Amitabh and Raakhi with Shashi Kapoor!
Kabhie Kabhie Poem
Kabhi Kabhi - the 1975 Triangle Love Movie with Amitabh, Shashi Kapoor and Raakhi at their best.
Thursday, October 21, 2010
Shoma Kaikini-Dance Solo
My friend Ajit Kaikini of Bangalore sent me the clippings of his daughter Shoma's dances. I am proposing this program for our next Alumni Homecoming 2010 at TAPMI, Manipal on Nov 20
Friday, October 15, 2010
kabhi kabhi mere dil mein khyal ata hai
I am highly crazy of this song, film, stars and the story for past thirty five years!
Tere Bina Zindagi Se Koi - Kishore & Lata - [Azgar Khan]
A very powerful 1975 movie "Aandhi" with two of the greatest stars - Sanjeev Kumar and Suchitra Sen depicting the political life resembling Mrs Indira Gandhi, the then Prime Minister with melodious songs.
Tere Bina Zindagi Se Koi - Kishore & Lata - [Azgar Khan]
A very powerful 1975 movie "Aandhi" with two of the greatest stars - Sanjeev Kumar and Suchitra Sen depicting the political life resembling Mrs Indira Gandhi, the then Prime Minister with melodious songs.
After 20 suicides, Andhra Pradesh to monitor Micro Finance
After 20 suicides, Andhra Pradesh to monitor Micro Finance
Very unfortunate. And, who should be held responsible for this development? Are we in the twenti-first century, modern, technology and civilised world / economy or moving backward? What are the Governments, Regulators (like SEBI, RBI or NABARD) or Police doing?
Very unfortunate. And, who should be held responsible for this development? Are we in the twenti-first century, modern, technology and civilised world / economy or moving backward? What are the Governments, Regulators (like SEBI, RBI or NABARD) or Police doing?
RBI constitutes panel to examine MFI functioning
RBI constitutes panel to examine MFI functioning
This move appears to be a timely step by the regulator. SKS happened to be the first MFI to go in for IPO and set a new trend in the capital market. SEBI has permitted the same and we are witness many developments. Unfortunate incidents that occurred were Dr Mohammad Yunus criticising Dr Vikram Akula over the money-making at the expense of poor. And then, the dismissal of CEO of SKS, Mr Gurmani last fortnight taking the Board Room war to the open discussions. These were not expected of in a service sector like MFIs.
The issue of high rates of interest has been a permanent issue for debate and now the regulator, RBI seems to have gone wiser. Earlier, GOI declined to intervene over this issue and left it to the concerned State Governments. And, there have been reports about Political Parties entering the dispute of high interest rates in Andhra Pradesh, where there is predominance of MFIs. We have got to wait and watch the developments.
This move appears to be a timely step by the regulator. SKS happened to be the first MFI to go in for IPO and set a new trend in the capital market. SEBI has permitted the same and we are witness many developments. Unfortunate incidents that occurred were Dr Mohammad Yunus criticising Dr Vikram Akula over the money-making at the expense of poor. And then, the dismissal of CEO of SKS, Mr Gurmani last fortnight taking the Board Room war to the open discussions. These were not expected of in a service sector like MFIs.
The issue of high rates of interest has been a permanent issue for debate and now the regulator, RBI seems to have gone wiser. Earlier, GOI declined to intervene over this issue and left it to the concerned State Governments. And, there have been reports about Political Parties entering the dispute of high interest rates in Andhra Pradesh, where there is predominance of MFIs. We have got to wait and watch the developments.
Sunday, October 10, 2010
Special October month this year
Big B to copyright his voice
Today is Big B - Amitabh Bachchan's 68th Birth day. He has been my favourite actor for four decades! He went through many ups and downs in his cine-career. He attempted at Politics (as an MP) and Business (ABCL) but was unsuccessful. KBC gave him biggest turning point. And today, KBC4 is being launched again with Amitabhji. This month Super Star of South India, Rajani Kanth's top Tamil movie "Endhiran" (Robot in Hindi and Telugu) with Aishwarya Rai Bachchan has been released all over the World!
This month, the October 2010, is going to be a memorable one from so many angles. I have been designated as Dean (Planning & Development) at TAPMI from 1st of this month. I am shifting to a new 3-bed room apartment in the campus during this week. I got in touch with so many friends including Laxman from Singapore, Sridhar from Canada and after long years, S Thandava Krishna of SCB, Dubai (thro Linked in). Next week, I will be meeting Mr PK Reddy of Hyderabad again after a long break, in Bangalore on my 58th Birthday on the 19th Oct.
In the Campus too many events are taking place on an ongoing basis like some additions to Faculty, preparations for Dec 10 campus inauguration by President, two more B-School Rankings (Business India @ 28 and Week @ 15) and so on. And on 16th Oct., we have two events on campus - one is foundation laying of TAPMI School of Business (TSB) and the other is a Round Table discussions of the TAPMI's Centre for Inclusive Growth in which I also would take part alongwith Director, seniior bankers/professionals and academicians. The topic would be on Professional management of SMBUs and role of Academic / Banking Institutions....Management students would be the beneficiaries.
Two important family events have taken place on 9th Oct. One is naming ceremony of Preethi's son (second child) in Hyderabad. Papa's daughter Deepthi (Wipro, Hyd) got engaged on the same day in Vizag. Mom and Baba Mamayya attended from Hyderabad. We could not go to either of the functions. We are planning to attend the wedding on 19th Dec in Vizag.
Thanks to a balanced judgement in Ayodhya-Babri Masjid Case by the Supreme Court on the 30th Sept., the country is going peaceful. The Common Wealth Games are going on smoothly despite all sorts of apprehensions about corruption, poor quality construction of the facilities, delay in completion of the projects, etc. Indian participants are also on the move to set a new record as to number of medals this time. In Mohali, India had an exciting one-wicket win over Australian Cricket team, thanks to an excellent performance by our own VVS Laxman again. Second Test is going on in Bangalore now.
There is a serious political crisis going on in Andhra Pradesh even after Mr Rosaiah, the Chief Minister completing his one year of rule. It is for the Congress High Command to take a crucial decision on the State Leadership and Jagan. Gaddar gave a shock to KCR and his separate Telangana movement. Mr Yeddiyuruppa is going to face his acid test this week to survive in power and BJP in the South.
Oct 02 every year is celebrated as birth anniversay of two great sons of India - Mahatma Gandhi and Lal Bahadur Sastryji. And this month on 16/17th, Dasara is being celebrated all over the country. Yesterday the 10th October (10th month of 2010) is unique with 10-10-10 (DD MM YY), it seems. Then at 10 hrs - 10 Mts - 10 seconds, it is all the more special, happening after some 860 years or so. All for good, of course. Life is like that.
Today is Big B - Amitabh Bachchan's 68th Birth day. He has been my favourite actor for four decades! He went through many ups and downs in his cine-career. He attempted at Politics (as an MP) and Business (ABCL) but was unsuccessful. KBC gave him biggest turning point. And today, KBC4 is being launched again with Amitabhji. This month Super Star of South India, Rajani Kanth's top Tamil movie "Endhiran" (Robot in Hindi and Telugu) with Aishwarya Rai Bachchan has been released all over the World!
This month, the October 2010, is going to be a memorable one from so many angles. I have been designated as Dean (Planning & Development) at TAPMI from 1st of this month. I am shifting to a new 3-bed room apartment in the campus during this week. I got in touch with so many friends including Laxman from Singapore, Sridhar from Canada and after long years, S Thandava Krishna of SCB, Dubai (thro Linked in). Next week, I will be meeting Mr PK Reddy of Hyderabad again after a long break, in Bangalore on my 58th Birthday on the 19th Oct.
In the Campus too many events are taking place on an ongoing basis like some additions to Faculty, preparations for Dec 10 campus inauguration by President, two more B-School Rankings (Business India @ 28 and Week @ 15) and so on. And on 16th Oct., we have two events on campus - one is foundation laying of TAPMI School of Business (TSB) and the other is a Round Table discussions of the TAPMI's Centre for Inclusive Growth in which I also would take part alongwith Director, seniior bankers/professionals and academicians. The topic would be on Professional management of SMBUs and role of Academic / Banking Institutions....Management students would be the beneficiaries.
Two important family events have taken place on 9th Oct. One is naming ceremony of Preethi's son (second child) in Hyderabad. Papa's daughter Deepthi (Wipro, Hyd) got engaged on the same day in Vizag. Mom and Baba Mamayya attended from Hyderabad. We could not go to either of the functions. We are planning to attend the wedding on 19th Dec in Vizag.
Thanks to a balanced judgement in Ayodhya-Babri Masjid Case by the Supreme Court on the 30th Sept., the country is going peaceful. The Common Wealth Games are going on smoothly despite all sorts of apprehensions about corruption, poor quality construction of the facilities, delay in completion of the projects, etc. Indian participants are also on the move to set a new record as to number of medals this time. In Mohali, India had an exciting one-wicket win over Australian Cricket team, thanks to an excellent performance by our own VVS Laxman again. Second Test is going on in Bangalore now.
There is a serious political crisis going on in Andhra Pradesh even after Mr Rosaiah, the Chief Minister completing his one year of rule. It is for the Congress High Command to take a crucial decision on the State Leadership and Jagan. Gaddar gave a shock to KCR and his separate Telangana movement. Mr Yeddiyuruppa is going to face his acid test this week to survive in power and BJP in the South.
Oct 02 every year is celebrated as birth anniversay of two great sons of India - Mahatma Gandhi and Lal Bahadur Sastryji. And this month on 16/17th, Dasara is being celebrated all over the country. Yesterday the 10th October (10th month of 2010) is unique with 10-10-10 (DD MM YY), it seems. Then at 10 hrs - 10 Mts - 10 seconds, it is all the more special, happening after some 860 years or so. All for good, of course. Life is like that.
Saturday, October 9, 2010
Home banking
Home banking
Wow. Some time back I listed all types of banking in India, with the maximum number of alphabets like A,B,C, D.... and so on. Today, I came across one more - Home Banking - being offered by new generation banks. Also, I read about Preferred Banking! I will write more later..........................
Wow. Some time back I listed all types of banking in India, with the maximum number of alphabets like A,B,C, D.... and so on. Today, I came across one more - Home Banking - being offered by new generation banks. Also, I read about Preferred Banking! I will write more later..........................
Friday, October 8, 2010
NBFCs profit growth outpaces rise in total income
NBFCs profit growth outpaces rise in total income
Having worked and taught for nearly four decades in the banking and financial services industry, I feel very happy about this report. Once referred to as 'four letter' outfits indulging in all types of financial juggleries while the commercial banking system was undergoing reforms during the previous decade, NBFCs have come a long way in competition with their counterparts.
Having worked and taught for nearly four decades in the banking and financial services industry, I feel very happy about this report. Once referred to as 'four letter' outfits indulging in all types of financial juggleries while the commercial banking system was undergoing reforms during the previous decade, NBFCs have come a long way in competition with their counterparts.
Moscow students make erotic calendar for Putin's 58th birthday
Moscow students make erotic calendar for Putin's 58th birthday
Unbelievable. That in a Communist country, students of journalism taking such radical and bold step of presenting a sexy 12 page calendar to their Prime Minister Putin on his birthday! We, in India, a democratic country with all modern life styles, of course with traditional values, still look at the news and pictures of Vijay Mallya's calendar girls for UB in secrecy. Yes, the twenty-first century is different!
And, my 58th Birthday is falling this month on 19th. What surprise gifts I can look for? and from whom? I sit with my fingers crossed. May be I will be in Bangalore on that day with friends and family members!!
Unbelievable. That in a Communist country, students of journalism taking such radical and bold step of presenting a sexy 12 page calendar to their Prime Minister Putin on his birthday! We, in India, a democratic country with all modern life styles, of course with traditional values, still look at the news and pictures of Vijay Mallya's calendar girls for UB in secrecy. Yes, the twenty-first century is different!
And, my 58th Birthday is falling this month on 19th. What surprise gifts I can look for? and from whom? I sit with my fingers crossed. May be I will be in Bangalore on that day with friends and family members!!
Standard Bank
Standard Bank
I came across an ad of this new bank called Standard Bank in the web page of Financial Express today and got curious. Is it connected to the popular Standard & Chartered Bank in any way or it is an independent bank in South Africa. May be I need to spend some time and work on its website to get to know full details. Till then, let me upload in my blog the link to its website.
I came across an ad of this new bank called Standard Bank in the web page of Financial Express today and got curious. Is it connected to the popular Standard & Chartered Bank in any way or it is an independent bank in South Africa. May be I need to spend some time and work on its website to get to know full details. Till then, let me upload in my blog the link to its website.
India wealth to double in 5 yrs: Report
India wealth to double in 5 yrs: Report
A proud moment for every Indian to know that the wealth is going to double in next five years. How reliable is this report? Does it mean that when the country's wealth doubles, each Individual Citizen also by and large benefits? Or is it confined to High Networth Individuals (HNIs) only. If so, what is the definition of HNI? Because, we come across several definitions of HNI from different organisations like Banks - Indian or Foreign. The fact that Credit Suiesse Research Institute carried out such a survey is laudable.
A proud moment for every Indian to know that the wealth is going to double in next five years. How reliable is this report? Does it mean that when the country's wealth doubles, each Individual Citizen also by and large benefits? Or is it confined to High Networth Individuals (HNIs) only. If so, what is the definition of HNI? Because, we come across several definitions of HNI from different organisations like Banks - Indian or Foreign. The fact that Credit Suiesse Research Institute carried out such a survey is laudable.
Thursday, October 7, 2010
The Hindu Business Line : Industrial houses, NBFCs pitch for bank licences
The Hindu Business Line : Industrial houses, NBFCs pitch for bank licences
In the near two decades of financial sector reforms in India, the major focus was on the banking system. While a major part of the ills in the system was attributed to the PSBs, the real issue was that of governance. Private sector banks simply followed the elder brothers and the system went on sustaining on false balance sheets. Several changes were made by the Govt as also the RBI to bring in a highly competitive level playing field among different types of banks. In the process, the PSBs were again the major beneficiaries.
During the late years of the previous decade/century, NBFCs played havoc while the banks were busy cleaning their balance sheets. Dereglation of interest rates and delicencing seem to have lead to mushrooming of NBFCs in India, when Govt / RBI appointed Vasudev Committee to set right the matters. Besides, Self Regulatory Organisations (SROs) like FDIC, AMFI, AMBI, etc have also put in their best efforts to remove the stigma on the NBFCs working. Today, a clear, transparent, efficient and highly competitive level playing field has emerged among all the participants of the Financial System. Interesting development is that RBI policy of inviting more foreign banks between 2005 and 2010 has not attracted many.
What started with Rs. 100 crores as capital required for a new bank to be set up in early years of reforms, was raised to Rs. 300 crores. Besides, the concept of Capital Adequacy Ratio (CAR) was introduced for all types of players on the international BIS standards. Now, CII proposing that minimum capital for new banks to be at Rs 1,000 crores is a welcome development.
In the near two decades of financial sector reforms in India, the major focus was on the banking system. While a major part of the ills in the system was attributed to the PSBs, the real issue was that of governance. Private sector banks simply followed the elder brothers and the system went on sustaining on false balance sheets. Several changes were made by the Govt as also the RBI to bring in a highly competitive level playing field among different types of banks. In the process, the PSBs were again the major beneficiaries.
During the late years of the previous decade/century, NBFCs played havoc while the banks were busy cleaning their balance sheets. Dereglation of interest rates and delicencing seem to have lead to mushrooming of NBFCs in India, when Govt / RBI appointed Vasudev Committee to set right the matters. Besides, Self Regulatory Organisations (SROs) like FDIC, AMFI, AMBI, etc have also put in their best efforts to remove the stigma on the NBFCs working. Today, a clear, transparent, efficient and highly competitive level playing field has emerged among all the participants of the Financial System. Interesting development is that RBI policy of inviting more foreign banks between 2005 and 2010 has not attracted many.
What started with Rs. 100 crores as capital required for a new bank to be set up in early years of reforms, was raised to Rs. 300 crores. Besides, the concept of Capital Adequacy Ratio (CAR) was introduced for all types of players on the international BIS standards. Now, CII proposing that minimum capital for new banks to be at Rs 1,000 crores is a welcome development.
Wednesday, October 6, 2010
The Hindu Business Line : Private equity investments fall in second quarter
The Hindu Business Line : Private equity investments fall in second quarter
I need to go back to my earlier works on Private Equity in 2005 and 2007 and update with this data to write another paper soon.
I need to go back to my earlier works on Private Equity in 2005 and 2007 and update with this data to write another paper soon.
Indian Management Conclave | MBAUniverse.com
Indian Management Conclave MBAUniverse.com
I attended the 2-day event on 13th and 14th August, 2010 - held for the first time by MBA Universe.Com, New Delhi. The program was well conceived and addressed by eminent Management Educationists from India and Abroad. The sessions were well designed and event well organised by the Team MBA Universe. Only one observation is that the delegates participating was skewed to North India and very few from South (like myself). I suggested to the organisers to look southwards for next event. The event concluded with announcement of India's Best B-School Rankings. This was also conducted by them for the first time under the able guidance of Dr Bakul Dholakia, former Director of IIM-A. TAPMI, Manipal was ranked at no. 21.
I attended the 2-day event on 13th and 14th August, 2010 - held for the first time by MBA Universe.Com, New Delhi. The program was well conceived and addressed by eminent Management Educationists from India and Abroad. The sessions were well designed and event well organised by the Team MBA Universe. Only one observation is that the delegates participating was skewed to North India and very few from South (like myself). I suggested to the organisers to look southwards for next event. The event concluded with announcement of India's Best B-School Rankings. This was also conducted by them for the first time under the able guidance of Dr Bakul Dholakia, former Director of IIM-A. TAPMI, Manipal was ranked at no. 21.
Tuesday, October 5, 2010
SBI to launch retail bond issue in Oct
SBI to launch retail bond issue in Oct
The Maha Ratna Bank ie., SBI is in news again. Currently, IDFC Bonds (with some tax concession upto investment of Rs. 20,000) are on tap for the middle class retail investors. Now that SBI is also in the fray besides raising its interest rates on FDRs, we have to wait and see what would be the response of the Invesors.
The Maha Ratna Bank ie., SBI is in news again. Currently, IDFC Bonds (with some tax concession upto investment of Rs. 20,000) are on tap for the middle class retail investors. Now that SBI is also in the fray besides raising its interest rates on FDRs, we have to wait and see what would be the response of the Invesors.
Fake currency transactions zoom 250%
Fake currency transactions zoom 250%
This news item is a frightening one to one and all. The increase in per centage of fake currency at 250 over the previous year, surpasses all the achievements India and its economy boast of. Strangely, this report speaks only in numbers and does not indicate the quantum of fake currency. This speaks of the inefficient administrative or vigilance mechanism in the country either in the government or banking system. Is there no remedy?
In the process, whether innocent middle and lower middle class income earners and saving community would be suffering. The Government has been failing in its promises and responsibility of containing inflation. Large scale corruption, lethargy, favouritism and inefficiency seems to be accumulating at the cost of honest, sincere and hardworking middle class. Any way, the business class, bureaucrats and politicians have unaccounted money with them.
Under this type of administration, how can AAM AADMI be assured of increase in quality of life for decades to come? God save India.
This news item is a frightening one to one and all. The increase in per centage of fake currency at 250 over the previous year, surpasses all the achievements India and its economy boast of. Strangely, this report speaks only in numbers and does not indicate the quantum of fake currency. This speaks of the inefficient administrative or vigilance mechanism in the country either in the government or banking system. Is there no remedy?
In the process, whether innocent middle and lower middle class income earners and saving community would be suffering. The Government has been failing in its promises and responsibility of containing inflation. Large scale corruption, lethargy, favouritism and inefficiency seems to be accumulating at the cost of honest, sincere and hardworking middle class. Any way, the business class, bureaucrats and politicians have unaccounted money with them.
Under this type of administration, how can AAM AADMI be assured of increase in quality of life for decades to come? God save India.
'India must have interest free banking'
'India must have interest free banking'
Islamic Banking cannot adopted in India for some obvious reasons. The legal system, social system, etc are not congenial to introduce Islamic Banking in our country. RBI made a thorough study a few years back and decided not to resort to this version of banking. The concept may be discussed, studied and researched but cannot be implemented. For academic purposes, some Conferences or Seminars may be held to educate those interested in knowing this mechanism. Some how, the religion aspect seems to be playing mental blocks for such a move. We have been witnessing, as a contrary, that Microfinance Institutions are charging usurious interest rates and RBI is yet to decide on this matter.
Islamic Banking cannot adopted in India for some obvious reasons. The legal system, social system, etc are not congenial to introduce Islamic Banking in our country. RBI made a thorough study a few years back and decided not to resort to this version of banking. The concept may be discussed, studied and researched but cannot be implemented. For academic purposes, some Conferences or Seminars may be held to educate those interested in knowing this mechanism. Some how, the religion aspect seems to be playing mental blocks for such a move. We have been witnessing, as a contrary, that Microfinance Institutions are charging usurious interest rates and RBI is yet to decide on this matter.
The Hindu Business Line : IIFCL to launch take-out finance scheme next week
The Hindu Business Line : IIFCL to launch take-out finance scheme next week
The youngest of the Development Financial Institutions (DFI), IIFCL has been progressing in a phased manner. During the Financial Sector Reforms period, the two leading DFIs, ICICI and IDBI were reverse-merged. IFCI, although being the first DFIs set up in 1948 (immediately after India's independence and before being declared Republic in 1950), but before India embarking its own Industrial Policy, has always been passing through difficult stages. Later, many DFIs were set up like EXIM Bank, NABARD, SIDBI, REC, PFC, etc., as also IL&FS and IDFC. Even then, there has always been deficiency of Institutions financing for Infrastructure Projects while Commercial Banks were meeting the requirements to some extent. IIFCL is now undertaking to bridge this gap in a planned way.
The youngest of the Development Financial Institutions (DFI), IIFCL has been progressing in a phased manner. During the Financial Sector Reforms period, the two leading DFIs, ICICI and IDBI were reverse-merged. IFCI, although being the first DFIs set up in 1948 (immediately after India's independence and before being declared Republic in 1950), but before India embarking its own Industrial Policy, has always been passing through difficult stages. Later, many DFIs were set up like EXIM Bank, NABARD, SIDBI, REC, PFC, etc., as also IL&FS and IDFC. Even then, there has always been deficiency of Institutions financing for Infrastructure Projects while Commercial Banks were meeting the requirements to some extent. IIFCL is now undertaking to bridge this gap in a planned way.
Monday, October 4, 2010
SKS Microfin fires CEO, stock plunges
SKS Microfin fires CEO, stock plunges
What a strange development within months of the popular MFI, M/s SKS Finance Ltd going public? Very unfortunate indeed. Is there no difference between IPL and MFIs?
What a strange development within months of the popular MFI, M/s SKS Finance Ltd going public? Very unfortunate indeed. Is there no difference between IPL and MFIs?
The Hindu Business Line : States may wield the stick on moneylenders
The Hindu Business Line : States may wield the stick on moneylenders
What a sad and unfortunate development, so soon after the first MFI in India having gone for equity from market. Only after this public issue, the GoI and RBI realised their role to regulate or oversee the working of and funds raising of equity by MFIs. Where is the Financial Inclusion from Commercial Banks? What are the NBFCs doing in this area? Have the RRBs/LABs and Cooperative Banks failed in discharging their responsibility of delivering credit at low rates of interest and on concessional terms to the rural borrowers? Are the farmers committing suicides only on account of high rates of lending by commercial banks or usurious rates by MFIs and Money Lenders?
What a sad and unfortunate development, so soon after the first MFI in India having gone for equity from market. Only after this public issue, the GoI and RBI realised their role to regulate or oversee the working of and funds raising of equity by MFIs. Where is the Financial Inclusion from Commercial Banks? What are the NBFCs doing in this area? Have the RRBs/LABs and Cooperative Banks failed in discharging their responsibility of delivering credit at low rates of interest and on concessional terms to the rural borrowers? Are the farmers committing suicides only on account of high rates of lending by commercial banks or usurious rates by MFIs and Money Lenders?
Sunday, October 3, 2010
Joy of Giving @ TAPMI
The Festival of Joy of Giving was observed last year (2009) with a modest response. This year it seems to have caught up with TAPMIans in a big way. Members of Social Endeavour Group (SEG) took up the cause of helping the inmates of Balaniketan, Udupi and taught them singing, dancing, etc during the week. The Prize Distribution Ceremony was held on October 02, 2010 in MIT auditorium. Good show.
AR Rahman's grand finale - CWG theme song | NDTV.com
AR Rahman's grand finale - CWG theme song NDTV.com
After about three months full of controversies, blame-games, apprehensions, accidents and all that, CWG XIX of 2010 has taken birth on Sunday, the 3rd October. In the last fortnight, the Allahabad High Court (Sept 30) was also making everyone to keep their fingers crossed. And thank God, the suspense is over from Babri Masjid dispute.
Next, was the preparations and infrastructure (quality and completion). All the Indians are feeling relieved and enjoyed the first day - Inauguration by our President - Ms Pratibha Patil and the Prince Charles. And here in the clipping Mr AR Rahman performsn. Interestingly, even his song was also under debate for about a month! Oh, the media hype!!
Last month, I heard a speaker in a public meeting redefining JIT - it is no more the Just In Time but typical Indian efficiency of Jugaad In Time. He was confident that the CWG would certainly be held in a grand manner despite all the above hurdles and apprehensions if not breakdowns or accidents. Indians are capable and competent to showcase their Jugaad talent and demonstrate to the world. That is what exactly happened. All is well that ends well.
After about three months full of controversies, blame-games, apprehensions, accidents and all that, CWG XIX of 2010 has taken birth on Sunday, the 3rd October. In the last fortnight, the Allahabad High Court (Sept 30) was also making everyone to keep their fingers crossed. And thank God, the suspense is over from Babri Masjid dispute.
Next, was the preparations and infrastructure (quality and completion). All the Indians are feeling relieved and enjoyed the first day - Inauguration by our President - Ms Pratibha Patil and the Prince Charles. And here in the clipping Mr AR Rahman performsn. Interestingly, even his song was also under debate for about a month! Oh, the media hype!!
Last month, I heard a speaker in a public meeting redefining JIT - it is no more the Just In Time but typical Indian efficiency of Jugaad In Time. He was confident that the CWG would certainly be held in a grand manner despite all the above hurdles and apprehensions if not breakdowns or accidents. Indians are capable and competent to showcase their Jugaad talent and demonstrate to the world. That is what exactly happened. All is well that ends well.
BOB : Best Bank(er) for 2010
Qudos to BOB for having been choosen the Best Bank for 2010. BOB is Bank of Baroda with highest growth rates in all parameters ahead of SBI, ICICI Bank or any other during the year 2009-2010. And the Banker is none other than its dynamic leader and CMD - Mr MD Mallya. Both deserve our compliments for having accomished to become the toppers. Mallya is after all the one of many successful bankers the South Canara District produced. Complete details can be read in the latest issue of Business Today (fortnightly business magazine) - October 03, 2010.
ICICI Bank opens first retail branch in Singapore
ICICI Bank opens first retail branch in Singapore
It is obvious that after India's no.1 bank, the SBI, a retail branch is opened by the no.2 - the ICICI Bank. For some reasons, ICICI has been hitting the headlines now and then, but this is a welcome development. Recently, a leading business magazine detailed the top-level shake ups in ICICI Bank after KV Kamath handed over the leadership to Ms Chanda Kochar. It is a real challenge to this woman executive to prove her mettle and the womanpower when empowered.
It is obvious that after India's no.1 bank, the SBI, a retail branch is opened by the no.2 - the ICICI Bank. For some reasons, ICICI has been hitting the headlines now and then, but this is a welcome development. Recently, a leading business magazine detailed the top-level shake ups in ICICI Bank after KV Kamath handed over the leadership to Ms Chanda Kochar. It is a real challenge to this woman executive to prove her mettle and the womanpower when empowered.
Weekend with Lions
It was a memorable two-day trip on 2nd and 3rd October to Niddle (Kamath Resorts) near Dharmasthala alongwith my fellow Lions, Lionesses and Lion-Cubs of Manipal Club. We were in all seventeen (six families plus) persons; we engaged a mini-bus for two days to travel / stay overnight as picnic.
On our way, we stopped at the Canara Bank sponsored Artisan Training Centre in Mayura village near Karkala to visit and watch the wooden, stone, mud and metal art works done by the inmates. The participants are from all over India numbering about 70. All facilities like food and shelter are provided free to them free by the CE Kamath Trust. Worth visiting. The Masters of the craft need to complimented.
Reaching Niddle by about 12 noon, we occupied three rooms (shared) and proceeded to Dharmasthala. Thanks to Mr Nagesh Kamath and his contacts, we had a VIP darshan of Lord Manjunatheswara. We had our lunch (prasada) in the temple premises and returned to Resorts. Evening snacks were at Dosa Camp in Niddle. After resting for about two hours, we again moved to Sri Rama Kshetra and visited the temples in the evening. Back to resorts, we had played cards, Dumb Sharrads (with in between singing and dancing too) and a late night dinner before resting at about 11 pm.
Next day morning, we freshened up and had break-fast at Dosa Camp again. Then, we vacated the rooms in Resorts and proceeded to Mangalore. Having reached by 12 noon, we went round the City Centre, a newly opened Shopping Mall. All of us made some purchases and then proceeded to Ocean Pearl to have a cost lunch. Then followed an Ice-Cream session at Natural and returned to Manipal to be at home by 6 pm.
On our way, we stopped at the Canara Bank sponsored Artisan Training Centre in Mayura village near Karkala to visit and watch the wooden, stone, mud and metal art works done by the inmates. The participants are from all over India numbering about 70. All facilities like food and shelter are provided free to them free by the CE Kamath Trust. Worth visiting. The Masters of the craft need to complimented.
Reaching Niddle by about 12 noon, we occupied three rooms (shared) and proceeded to Dharmasthala. Thanks to Mr Nagesh Kamath and his contacts, we had a VIP darshan of Lord Manjunatheswara. We had our lunch (prasada) in the temple premises and returned to Resorts. Evening snacks were at Dosa Camp in Niddle. After resting for about two hours, we again moved to Sri Rama Kshetra and visited the temples in the evening. Back to resorts, we had played cards, Dumb Sharrads (with in between singing and dancing too) and a late night dinner before resting at about 11 pm.
Next day morning, we freshened up and had break-fast at Dosa Camp again. Then, we vacated the rooms in Resorts and proceeded to Mangalore. Having reached by 12 noon, we went round the City Centre, a newly opened Shopping Mall. All of us made some purchases and then proceeded to Ocean Pearl to have a cost lunch. Then followed an Ice-Cream session at Natural and returned to Manipal to be at home by 6 pm.
Friday, October 1, 2010
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