L. N. Mittal and his siblings have been dramatically different

Post the split of the business, the destinies of L. N. Mittal and his siblings have been dramatically different. But one can also find them converging on some fronts now

The tendency to live dangerously does have repercussions, for the one problem both companies have to naturally face with is debt. Arcelor Mittal itself had a debt of $18.8 billion by the end of 2009, an improvement from the high of $32.5 billion by September 2008. You wouldn’t consider that a problem in the case of Arcelor Mittal, but for the fact that the company is equally susceptible to swings in the steel sector. Last year, the company posted net income of only around $75 million compared to $10.49 billion the previous year. The reason was the decline in demand and average steel prices as reflected by the global recession. That is precisely why not having production capacity in a growing market like India pinches L. N. Mittal now like never before.

As far as Ispat is concerned, profitability has been hard to come by, despite the fact that it is present in the booming Indian market. The company recorded Rs.83.63 billion in gross income in FY 2009-10 (a drop by 8.4% yoy). Losses for the year were at Rs.2.53 billion compared to Rs.6.9 billion the previous year. Moreover, its D/E ratio is rather high at 4.1 at the end of the year. By June 2010, its debt was at Rs.71.86 billion. Recently, rumours were rife that the company’s lenders are planning to sell out stake to other companies, which Ispat has denied in a letter to B&E. Ispat’s problems have actually been compounded by the lack of captive iron ore and coking coal. A steel analyst on condition of anonymity told B&E, “Due to the high cost of raw material and debt pressure, the company continues to suffer. They need a sustained steel cycle for some time to be able to get out of that situation.” Moreover, they realize the need to convert debt to equity, which is where the 10% stake sale to Stemcor for Rs.65 billion has come in quite handy. On the raw material front, an Ispat spokesperson tells B&E, “Ispat constantly seeks to ensure security of raw materials, achieve reduction in costs of inputs, improve process efficiencies, rationalize production capabilities and enhance plant performance. Initiatives include commissioning of 110 MW power plant at Dolvi, coke oven plant with annual capacity of 1.0 MTPA and Iron ore pellet plant (capacity of 2.0 MTPA) at Dolvi and Damkodwadvi in Maharashtra.” In addition, the top line has been stagnating for the past few years and must be addressed urgently as well.

While Arcelor Mittal needs to consolidate its operations and make headway into the Indian market, the imperative for Ispat is to ensure backward integration and improved efficiency. Both have to look at their leverage carefully before taking up more aggressive expansions. Interestingly, it seems that their destinies seem to be converging in this sense, an event that has been rather unprecedented since 1994.

Read more.......

Source : IIPM Editorial, 2012.

An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
 

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IIPM : The B-School with a Human Face

Marvel at the Mahals where they lived and bite into kebabs

Wander in the streets where Nawabs once walked, Marvel at the Mahals where they lived and bite into kebabs that were created especially for the royals; you just might find the city of your dreams waiting for you, here in Lucknow

With its imposing Deewan-e-Khas, a large number of chambers and many basements with access to strategic tunnels, it prompted some European writers to compare it to the garden of Arabian Nights. There’s Shatkhanda, a five-storied replica of the Leaning Tower of Pisa. The Hussainabad Clock Tower, proudly declared by Lucknowites as the Big Ben of India, is a 221-foot high, 20-square feet tower with a 14-feet-long pendulum. The wheel of the clock is 18 inches in diameter. On its four faces, the tower exhibits four clocks of 13 feel diameter.

The Husaianabad Imambara, built by Badsahah Mohammed Ali Shah, Awadh’s third ruler, stands in an architectural complex known as the Babylon of India. A visiting Russian Prince in fact once referred to it as the “Kremlin of India”. It bears the tombs of its builder and his mother enclosed in silver grills.

The Asfi Imambara, a blend of Mughal, Rajput and Gothic styles, is an architectural miracle built without the traditional support of pillars or beams.

Cooking was raised to the highest standards by the nawabs. The food was an eclectic mix of Persian and Mughal dishes, often with a European twist. The city’s elite encouraged experimentation by their well-paid cooks who among other things invented the Dum Pukht style of cooking. While the nan jalebis and the sheer mal were breads which first came out of the kitchens of the nawabs, the humble parantha was refined into the baqar khani. Some of Lucknow’s must-eats include Tunde ke kebab, Wahid’s biryani, Rahim’s Kulche-Nahari, Pandit Ram Narayan’s Chaat, Radhey’s malai gilori and Bajpai’s Puri Kachori.

Spoiled yet cultured, modern yet traditional, like the reflections on the many mirrors of Sheesh Mahal, every person sees a different image of Lucknow. What perhaps binds their vision, is the city’s glorious past and the common dream of a future just as bright.

Read more......

Source : IIPM Editorial, 2012.

An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
 

Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri's Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM's Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links

IIPM : The B-School with a Human Face

Is the hype being built about Iran’s supposed nuke ambitions even real?

Be it through murders, Kidnapping, Virus attacks or sanctions, a careful and well coordinated stealth Programme is on to Jeopardise years of nuclear capability building by Iran. Is the US, along with its allies, drawing itself into another long drawn misdirected war? Is the hype being built about Iran’s supposed nuke ambitions even real?

UN (on December 23, 2006) banned the supply of nuclear-related materials and technology and froze the assets of key individuals and companies related to Iran’s nuclear program. On March 24, 2007, UN imposed an arms embargo and expanded the freeze on Iranian assets, which on March 3, 2008, was further extended to the activities of Iranian banks, aircraft and movement of individuals through their territory. The recent sanctions passed by EU (June 17, 2011) on Iran involve the prohibition of investments by EU countries in oil and gas projects, as well as the transfer of technology and equipment. The Obama administration has further imposed new sanctions (June 24, 2011) against Iran’s largest air carrier accusing it of supporting terrorism and nuclear activities.

Yet, there is no hard evidence that IAEA or the US has been able to present to the global community. There has been a lot of hype, statements and political posturing. But evidence (of Iran attempting to divert nuclear resources for weapons), as in the Iraqi misadventure, none! Pulitzer Prize winner Seymour Hersh wrote in The New Yorker in June 2011 that “the two most recent US National Intelligence Estimates on Iranian nuclear progress have stated that there is no conclusive evidence that Iran has made any effort to build the bomb since 2003.” Similar is the tune of former director general of IAEA and Noble Prize winner Mohamed ElBaradei, who said recently, “I don’t believe Iran is a clear and present danger. All I see is the hype about the threat posed by Iran.” Then why are the US and other agencies still bent on misrepresenting and perhaps even sabotaging Iranian nuclear ambitions?

The US fears that once a country like Iran has acquired nuclear know-how, to consider it to follow the Japanese path in rejecting nuclear weapon ambitions, would be both churlish and childish. The US believes that if not now, Iran will go ahead and arm itself with nuclear weapons in the future. The only way America thinks it would be able to move against future Iranian ambitions is to sabotage Iran’s currently peaceful nuclear energy generation attempts. This, combined with the false media hype about Iran attempting nuclear weaponization, would be enough for the US to force the UN to put a complete stop to Iran’s nuclear energy generation programme. In other words, expect very soon that the UN would move a resolution to this effect. Like we mentioned, Iraq redux!

Read more....

Source : IIPM Editorial, 2012.

An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM's Management Consulting Arm-Planman Consulting
IIPM Prof. Arindam Chaudhuri on Internet Hooliganism
Arindam Chaudhuri: We need Hazare's leadership
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management

“More Regulation will have a Negative Fallout”

P. K. Mukherjee, MD, sesa Goa talks to Virat Bahri on The Company’s outlook post The Lifting of The Export ban and The Sfio Report

B&E: FY 2010-11 was an year where you dealt with relatively low iron ore realizations. In the light of that fact, what is your perspective on the results? Also, what are your expectations with respect to when these realizations will improve in the coming time?
PKM: Iron ore realization were good but volume was relatively low. The ban on export of Karnataka ore and even the procedural bottlenecks for moving ore for domestic consumption outside the state, extended monsoon in Goa along with transport time restrictions are the major reasons that came in the way of volume growth. Dispatch of quantities more than EC permissions done by some mine owners (particularly south Goa) that further restricted iron ore movement and the unprecedented increase in road freight in Goa were other challenges. Otherwise, we are quite confident of market being quite buoyant and expect price realizations to be range bound.

B&E: What major transformations have been done post the company’s acquisition by the Vedanta Group? What were the managerial and business related challenges and how did you overcome them?
PKM: Vedanta group acquired SESA in 2007 and then DEMPO acquisition came in 2009. Volume has doubled during this period. Strong Management Information Systems including motivation/push for operational excellence and more empowerment of executives with career growth opportunities for younger generations are few areas of transformation. We also challenge our own benchmarks continuously. The thrust is on continuous growth with sustainability.

B&E: Investors would be waiting for the time when you will be able to finally move towards steel production and export. What is your perspective on the same?
PKM: If the Indian steel industry can consume all the grades of iron ore as exported, miners would be only happy to sell it to them at market determined price. Exports of iron ore from India were never done by design but only because the miners in India were not left with any choice. As far as coming into steel production is concerned, well, it would come at its own time.

B&E: How critical is the lifting of the export ban from iron ore in Karnataka to your business?
PKM: The amount of iron ore produced in our Karnataka iron ore mine hasn’t got enough demand in domestic market; leave alone the issue of market determined price. Hence, growth of our Karnataka volume (as per environmental permissions) is critically dependent on effective lifting of the ban with the seamless issue of all permits required legally. 

Read more....

Source : IIPM Editorial, 2012.

An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age WomanIIPM's Management Consulting Arm-Planman Consulting
IIPM Prof. Arindam Chaudhuri on Internet Hooliganism
Arindam Chaudhuri: We need Hazare's leadership
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management

Accept or Reject without a Reason

The Term “Accept or Reject without a Reason” Is The most Misused term across Government contracts – and for Shamefully Corrupt Purposes

Without even one iota of doubt, there is an urgent need for the government or the judiciary to pass strictures against this clause and ensure that the power to accept or reject contracts is via transparent means and not through unilaterally decided arbitrary decisions that cannot even be questioned at a later date. Just look at the putrefied list of our gloriously corrupt government representatives and you start understanding why this clause has become a debauched, unethical entity.

AICTE’s Chairman R. A. Yadav was suspended in 2009 under a corruption case, while AICTE member secretary K. Naryan Rao was even arrested. In the same year, former Jharkhand chief minister Madhu Koda was arrested in a case of disproportionate assets. Ramachandran Nair, CEO, LIC Housing Finance was arrested in 2010, again on charges of bribery charges. A. K. Srivastava, CMD, Nalco was arrested in February 2011, of course, on bribery charges. Secretary General of CWG organising committee Lalit Bhanot, former telecom minister A. Raja, and more, the list simply does not seem to stop.

Our proposed solution to resolve corruption by getting rid of the clause, obviously sounds too simplistic by itself. But wonderfully, the most complicated problems in the world have had quite simple solutions. With the government running away from owning up to the issue, it’s obviously the judiciary that has to get working. Well, we guess even the judiciary has to clean up its house first of all. The Tis Hazari Courts, in their tender for purchasing aerosol insecticide, writes, “The Purchase Committee reserves the right to accept or reject any tender without assigning any reason whatsoever.” Way to go judiciary, way to go!

Read more....

Source : IIPM Editorial, 2012.

An Initiative of IIPM, Malay Chaudhuri 
and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles. 

IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM's Management Consulting Arm-Planman Consulting

Nordic brings back the old ghosts

Tighter Monetary Policy has not only Weakened Domestic demand in Nordic’s biggest Economies, but has also put a Brake on Region’s overall Growth Momentum. Is Nordic slipping back into recession?

Several investors in western Europe, particularly in the Nordic region (comprising countries like Sweden, Denmark, Norway, Finland, et al), are busy rejigging their portfolios these days. Raison d’être: Ghosts of a double-dip recession, which had disappeared as green shoots of recovery started popping up, have once again started haunting the region.

Tighter monetary policy has not only weakened domestic demand in the region’s two biggest economies, Norway and Sweden, but has also put a brake on Nordic’s overall growth momentum. While Norway’s real GDP contracted by 0.5% during Q1 2010, Finland too remained in a full-blown recession in H1 2010 (Finland’s GDP contracted by 5.4% in Q4 2009 and by 0.6% in Q1 2010) as firms pulled back fixed investment spending on the back of falling export demand. Even Sweden’s economy, which was the first to rebound in 2009, has lost its winning momentum. GDP growth in Sweden is expected to slow down from 4.2% in Q2 2010 to 2.1% in Q3 2010. What’s more? Unemployment has also risen in Denmark (from 3.9% in Q3 2009 to 4.3% in Q1 2010) and Norway (from 3.2% in Q3 2009 to 3.5% in Q1 2010) while staying at record-high levels in Finland (at 8.8%). So, is Nordic slipping back into recession or is it just a halt before the growth finally picks up in the region?

Though Eszter Miltenyi, Senior Press Officer at European Central Bank finds an excuse to get away from bringing in the real picture of the region by saying to B&E, “We do not comment on particular countries’ economies of the euro zone,” there are still many who are bold enough to speak the truth. “The region will tip back into a shallow recession in early 2011. Growth momentum will fade as the recovery stalls in key trading partners. Although Denmark, Finland & Sweden have strong trade links with each other, most of their trade flows outside the region to Germany, US and UK. And as Germany and UK are expected to see mild recessions in the first half of 2011, things would really weigh heavy on the Nordic region’s exports,” Christine Li, the London based economist at Moody’s Economy.com tells B&E.

Further, if Europe’s sovereign debt crisis deepens, the demand from Nordic’s trading partners could suffer longer than expected. Dismal economic news from US and western Europe too implies that the global recovery continues to be fragile and growth remains inconsistent. This means a lot more trouble is on its way for Nordic countries in the near future. No doubt, public finance was strong across the Nordic when it entered the 2008 financial crisis, but the situation has changed today with the region’s major economies like Denmark, Sweden and Finland struggling with massive budget deficits. But then, are policy makers really aware of the financial storm that might hit them anytime soon? If yes, what are they doing to avert the danger?

Read more.....

Source : IIPM Editorial, 2012.

An Initiative of IIPM, Malay Chaudhuri 
and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles. 

IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM's Management Consulting Arm-Planman Consulting

 

Here to stay

After being in news with Hrithik Roshan, Barbara Mori is all set to conquer the Hindi film industry with the “Baadshah” of Bollywood, Shah Rukh Khan. She was introduced to Shah Rukh and Gauri Khan by the Roshans and was floored by their hospitality. In fact, she wishes to work with SRK as the lead actor in future. This Mexican beauty doesn’t consider herself much of a dancer. In fact, a Bollywood style dance sequence was shot with Barbara but was later deleted as it didn’t turn out well. And we thought all Latinos moved like a dream!

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Read these article :-

IIPM: An intriguing story of growth and envy

THE NEED OF A RIGHT TO FOOD BILL - Prof. Arindam Chaudhuri of IIPM

The Sunday Indian:- B-SCHOOL RANKING SCAMSTERS EXPOSED!

Outlook Magazine money editor quits
Don't trust the Indian Media!

Follow Arindam Chaudhuri on Twitter
Delhi/ NCR B- Schools get better
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A case of one too many

28-year-old Natalie Portman has joined the race with the likes of Anne Hathaway, Ellen Page, Mia Wasikowska, Keira Knightley, Scarlett Johansson and Kristen Stewart to bag the lead role in Sony’s remake of “The Girl With The Dragon Tattoo”. While Brad Pitt still has to accept the offer for the male lead, director David Flincher is so confused with the choice of actresses that he is contemplating to go with some unknown face. Well, can't really blame the poor guy for that's what happens when one's spoilt for choice!

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Read these article :-

IIPM: An intriguing story of growth and envy

THE NEED OF A RIGHT TO FOOD BILL - Prof. Arindam Chaudhuri of IIPM

The Sunday Indian:- B-SCHOOL RANKING SCAMSTERS EXPOSED!

Outlook Magazine money editor quits
Don't trust the Indian Media!

Follow Arindam Chaudhuri on Twitter
Delhi/ NCR B- Schools get better
IIPM fights meltdown
IIPM News
1 LAKH COPY SOLD in less than ten days of Prof. Arindam Chaudhuri's new book Discover The Diamond In You
IIPM B School on Twitter
IIPM ISBE Programmes
IIPM NEWS

Allures of the Parisian markets enchant you

Hinterland Travels (www.hinterlandtravel.com) is a UK-based company which has been organising tours to Iraq for 30 years. Owner & Managing Director Geoff Hann said, “In Iraq, although we concentrate on archaeological and historical sites, we also visit the Shia pilgrimage or Shrine cities of Karbala and Najaf. We look at some recent history sites such as Saddam’s Palaces… Inevitably, we do pass through or stop at places where atrocities have been committed. We mention these, but do not make it an integral part of any of our tours. For example, when exploring Kurdistan, we visit Halabja and the prison in Sulaimaniyah.”

On April 26, 1986, Chernobyl's Reactor No. 4 exploded and caused the worst nuclear power plant accident in history. As radioactive plume filled the atmosphere, millions fled from Chernobyl and neighbouring towns. Still unfit for human habitation, there are, however, tourist companies that will take you into the 30 km ring of the exclusion zone. A twenty-six-year-old lady from England (name withheld) is one of the millions who have undertaken such a tour (See ‘Diary of a dark tourist’). She recalls, “I was motivated to visit Chernobyl out of morbid interest and because I have a fascination with post-apocalyptic scenarios. Part of me has always wondered what a place would be like if people suddenly vanished. How would nature take over? What would the silence be like?”

But what makes people forsake a trip to Switzerland and instead, head to Iraq or Cambodia? Experts believe the motivations of a dark tourist stem from the need to heighten their sense of mortality, a quest for a novel experience, a celebration of crime and deviance. Reverence, nostalgia or plain basic voyeurism could also be the reason to visit a cemetery or a battlefield or a shipwreck or a disaster site like Ground Zero in New York or Jallianwala Bagh in Amritsar. Reveals Geoff Hann, “My clients are motivated to see these places for themselves because of the sheer volume of media coverage. They are also suspicious of the motives of that news. They want to communicate with the people in these areas.”

Most people may feel the label of a dark tourist as derogatory, but the truth is that almost all of us at some point in time have been a dark tourist. Many of us would have been to The Indira Gandhi Memorial Museum, and walked in the rooms where our former prime minister once lived, and around the exact spot where she fell after her bodyguards’ bullets tore into her body. I, for one, have taken the tour, and like an unashamed voyeur wondered how life would have been in the same rooms, and paused with reverence and grief at the spot where she was slain. But voyeuristic rubbernecking around a site of crisis can result in hurting people’s sentiments; case in point when actor Riteish Deshmukh and filmmaker Ram Gopal Verma decided to take a tour of the Taj Mahal Hotel in Mumbai right after the three-day siege.

Dark tourist sites can be disturbing places where the excesses of humanity have caused much grief and serve as reminders to the gravest mistakes and misdemeanours of mankind. As long as one goes with the right attitude, there’s a lot that one can take away from the experience.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Read these article :-

IIPM: An intriguing story of growth and envy

THE NEED OF A RIGHT TO FOOD BILL - Prof. Arindam Chaudhuri of IIPM

The Sunday Indian:- B-SCHOOL RANKING SCAMSTERS EXPOSED!

Outlook Magazine money editor quits
Don't trust the Indian Media!

Follow Arindam Chaudhuri on Twitter
Delhi/ NCR B- Schools get better
IIPM fights meltdown
IIPM News
1 LAKH COPY SOLD in less than ten days of Prof. Arindam Chaudhuri's new book Discover The Diamond In You
IIPM B School on Twitter
IIPM ISBE Programmes
IIPM NEWS

Back away

Hmix of a rom-com with a slightly pungent taste of explicit humour

The Backup Plan needs to buck-up if it plans to do good business at the box office. Attracting the crowd on J-Lo’s (Jennifer Lopez) pretext would not suffice for this drag of an epic which atrociously stretches for around 2 hours. No doubt the movie begins in an interesting manner and there are funny and romantic sequences all through, but gross scenes showing loud uncouth women delivering a baby in a tub and trying to portray it as funny is probably the epitome of misconception.

The movie starts to pinch after a while when such disgusting motherhood cravings are blatantly shown onscreen. Jennifer Lopez gracefully comes on screen as a pet shop owner who is a self made woman and has only a granny to call her family. Her urge to have a kid is satisfied when she artificially gets herself inseminated and takes the bold step to greet motherhood all by herself.

Never having met Mr. Right, she least expects to run into him (Alex O’Loughlin) so soon after she makes this giant leap in her personal life. How Mr. Right actually plays along and supports this not so single mommy is fun to watch. It was also fun to see the ‘dog whisperer’ Cesar Millan on screen sharing his favourite ‘how to be a pack leader?’ tips! Although the little pooch, who mostly steals the show, is an interesting companion for the hot diva; one shall not miss the scene when J Lo’s granny walks the aisle and unites with her 97 year old fiancé at the altar. But there aren’t too many back ups beyond that.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Read these article :-

IIPM: An intriguing story of growth and envy

THE NEED OF A RIGHT TO FOOD BILL - Prof. Arindam Chaudhuri of IIPM

The Sunday Indian:- B-SCHOOL RANKING SCAMSTERS EXPOSED!

Outlook Magazine money editor quits
Don't trust the Indian Media!

Follow Arindam Chaudhuri on Twitter
Delhi/ NCR B- Schools get better
IIPM fights meltdown
IIPM News
1 LAKH COPY SOLD in less than ten days of Prof. Arindam Chaudhuri's new book Discover The Diamond In You
IIPM B School on Twitter
IIPM ISBE Programmes
IIPM NEWS

Explore the many facets of nature in Karnataka.

gokarna
Planning a quick and reinvigorating getaway this summer? Coastal Karnataka, with its crystal clear seas, mind-blowing beaches and captivating sunsets, is the place for you. A few days out there in the sun and sand are guaranteed to get you back into top throttle. Make Gokarna your base. Located in a coastal area, it is a famous pilgrimage centre surrounded by a dense jungle. It also has four beaches.

Kudle beach is about a 20-minute walk from Gokarna. This beach has simple huts and eating places. OM Beach is 30 minutes further south. The beach got its name because it is shaped like the auspicious ‘Om’ sign. There are some really basic huts and tea shops along this beach. There are two more beaches near Gokarna, Half Moon and Paradise, each a 30-minute walk from one another. You can get bottled water and food on all the beaches near Gokarna.

If you make your way through coastal Karnataka, there are some places that you can’t overlook. Maravanthe beach, for instance. The drive to the picturesque beach is an unforgettable experience in itself. It is located 50 km from Udupi, a seaside town, where NH-17 cruises along with the Arabian Sea on one side and the Sauparnika river on the other against the backdrop of the Kodachadri Hills.

You can get here by train and bus. The Konkan Railway passes close to Gokarna. Express trains stop at Karwar, Kumta (23km), and Ankola (25km). Ppassenger train stops at Gokarna Road (10km). A bus departs from Gokarna at 11 am to meet the train going to Margao at 11.30 am. Gokarna Road Station (70487) is 9 km from the town of Gokarna.

kabini Reservoir
A ride on State Highway 33 taks you to Kabini Reservoir, 50-odd km from Nagarhole National Park. Here, the lush green forest and the waters combine to create an ambience difficult to describe in words. Easy accessibility may be the reason for Kabini’s popularity. It is 80 km from Mysore and 220 km from Bangalore.

The river, which originates in Wayanad district of Kerala, flows eastwards and joins the Cauvery. The area around the reservoir was once a favorite hunting spot of Maharajas of Mysore. Later, British Viceroys took a liking for the place.

Kabini is at its most beautiful when it rains. The winds whistle through the forest and the stream gushes along with gusto, creating a wonderful symphony. But the place yields just as many delights in summer. Large congregations of Asiatic elephants gather here when the river recedes to reveal rich grass meadows on the banks. Other wild animals and birds arrive to add to the beauty of Kabini.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Read these article :-

THE NEED OF A RIGHT TO FOOD BILL - Prof. Arindam Chaudhuri of IIPM

The Sunday Indian:- B-SCHOOL RANKING SCAMSTERS EXPOSED!

Outlook Magazine money editor quits
Don't trust the Indian Media!

Follow Arindam Chaudhuri on Twitter
Delhi/ NCR B- Schools get better
IIPM fights meltdown
IIPM News
1 LAKH COPY SOLD in less than ten days of Prof. Arindam Chaudhuri's new book Discover The Diamond In You
IIPM B School on Twitter
IIPM ISBE Programmes
IIPM NEWS

Taking One step forward...

How to make the concept of microfinance work in India

If before Independence, Netaji Subhas Chandra Bose said “Give me blood and I will give you freedom", then today every unemployed Indian youth says “Give me some money and I will help you build a prosperous India.” Ideas flowing from the remotest corner of the country are equally brilliant but fail to flourish for sheer lack of access to capital. But things are changing. Thanks to the emergence of microfinance. Recent reports reveal an interesting picture. Microfinance is serving 86.2 million clients in India. The portfolio reached Rs 351 billion, according to The Bharat Microfinance Report, 2009 by Sa-Dhan, the Association of Community Development Finance Institutions. Micro Finance Institutions (MFIs) have succeeded to cover over 71 per cent of the 331 of the poorest districts of India in 2009. In total, 413 districts, today, avail the benefits of microfinance all over India. What more interesting to notice is that 93 per cent of the active borrowers are women. And over 7.7 million are from SC/ST or minority groups. Even the growth of MFIs is quite satisfactory. MFIs with portfolio of over Rs 50 crore were growing by 40.5 per cent during 2006-08. Similarly, MFIs with portfolio of over Rs 5 crore to Rs 50 crore are growing by 97.5 per cent. And MFIs with below Rs 5 crore are growing at the rate of 78 per cent. This is raising the debate for consideration of the need, relevance and urgency of a standard regulatory framework for MFIs.

However, certain areas should be considered seriously to make microfinance an effective tool for social transformation. Firstly, as Dr Prakash Bakshi, executive director, NABARD says “saving protection is the first step forward of microfinancing”. People in villages have money and they want secure saving methods which can later work as capital. The NREGA alone created eight crore accounts in the villages. Villagers are getting money from many welfare schemes or small business entities. Secondly, institutions have to ensure the assurance of loans given as per the needs of the borrower and not as per their own whims and fancies and at their own convenience. The repayment procedure of loans should be flexible. For example, the client may earn income after four months post-investment. But forcing him to repay the loan on a weekly or a monthly basis would make it very tough for him to repay. Thus, he would become more prone to defaulting. Moreover, India’s practice of equity capital adequacy ratio against loan is very strict. For example, for a loan of Rs 10,000, a client should have equity capital of around Rs 2, 000 which is very high compared to many other nations. Most importantly, a mere Rs 10,000 one time loan will not guarantee the upgradation of the standard of living of the borrowers. The need of the day is a long term empowerment scheme. All in all, to make microfinancing effective, the country needs a self-regulatory body, more like Telecom Regulatory Authority of India (TRAI) or Insurance Regulatory and Development Authority (IRDA) to ensure accountability and transparency. And who can better justify it other than Mr Chuck Waterfield, CEO & President, MFTransparency as he says “micro-credit is not an exchange of negotiations between two equal parties and thus need monitoring.”

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Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Not really step-motherly!

Angelina Jolie who is always playing a doting mother to her kids in real life is all set to paint a rather ruthless picture in reel life, absolutely in contrast to her mellow motherly demeanor. The role is for a Darren Aronofsky movie called “Serena” in which Angelina would be seen going after her husband’s illegitimate child… Now is this to warn Brad of something, who knows?!

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Read these article :-

The Sunday Indian:- B-SCHOOL RANKING SCAMSTERS EXPOSED!

Outlook Magazine money editor quits
Don't trust the Indian Media!

Follow Arindam Chaudhuri on Twitter
Delhi/ NCR B- Schools get better
IIPM fights meltdown
IIPM News
1 LAKH COPY SOLD in less than ten days of Prof. Arindam Chaudhuri's new book Discover The Diamond In You
IIPM B School on Twitter
IIPM ISBE Programmes
IIPM NEWS

Lonely island, Prayer of pain

As the civil war is over, the annual festival at the St Antony's Church in Kachatheevu, an island in the Sri Lankan territorial waters, has resumed after 27 years. Indian fishermen and pilgrims are allowed to attend this festival without any travel documents. N. Asokan experienced it first-hand.

No political discourse in Tamil Nadu is complete without the mention of Kachatheevu, the uninhabited barren Island of 285 acres in the waters between Sri Lanka and India. When the maritime boundaries between India and Sri Lanka were settled in 1974, this small island, which belonged to the Raja of Ramanathapuram, was ceded to Sri Lanka by then Prime Minister Indira Gandhi. But the traditional rights of Indian fishermen to take rest on the island were well in place in the agreement between both the governments.

But for the fishermen, the sea had no boundaries. They were going beyond Kachatheevu into the Sri Lankan waters to fish. They used to attend the annual festival on the island. Indians and Sri Lankans would come to worship at the St Antony’s Church. This small church was built by an Indian fisherman in the early 20th century who was believed to have survived a storm near the island when he prayed to St Antony.

There were no problems till 1983 when ethnic riots against Tamils in Sri Lanka first took place. The Sri Lankan government stopped the festival. The territorial waters were strictly monitored by the Sri Lankan navy. When Indian fishermen went beyond the Indian boundary towards Kachatheevu and adjacent places, they were shot at.

More than 300 Indian fishermen were shot dead in the waters near Kachatheevu in the last two decades as the Lankan Navy suspected them of supporting the LTTE rebels with supplies. As the civil war intensified, the number of deaths of Indian fishermen also rose. Tamil politicians were pressuring the Centre to take the island back from Sri Lanka. J. Jayalalithaa’s case in Supreme Court in this regard is still pending. Her contention was that New Delhi ceded the island by an executive order which violated Article 368 of the Constitution.

On last saturday morning, Fishing Boat no. 404, after getting essential clearance from the Indian Navy at the Rameswaram Jetty, was speeding past the Palk Bay waves. I was on it. The owner and driver of the boat, Sudalai Kasi, was an excited man. With over thirty years of fishing experience in the Palk Bay, he had seen the island many times but never could set his foot upon its shores in the last two decades. “Earlier, only a thatched shed was there as a chapel. Then in the 1970s, the tile-roof structure was built. Thousands of people from India and Sri Lanka would meet there every year. There will be exchange of goods and gifts,” Sudalai Kasi reminisced about the old times.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2009

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Read these article :-

The Sunday Indian:- B-SCHOOL RANKING SCAMSTERS EXPOSED!

Outlook Magazine money editor quits
Don't trust the Indian Media!

Follow Arindam Chaudhuri on Twitter
Delhi/ NCR B- Schools get better
IIPM fights meltdown
IIPM News
1 LAKH COPY SOLD in less than ten days of Prof. Arindam Chaudhuri's new book Discover The Diamond In You
IIPM B School on Twitter
IIPM ISBE Programmes
IIPM NEWS