Priority Oct Dec 2013

Axis Bank

Axis House, 3rd Floor, C-2, Wadia International Centre, P. B. Marg, Worli, Mumbai - 400 025, India Tel: +91 022 24256317 | www.axisbank.com tanu.kaushik@axisbank.com Chief Editor Tanu Kaushik

Dear Reader,

Published by:

As winters dawn, we take you to the perfect winter wonderland – Koln or Cologne in Germany that best encapsulates the atmosphere of winter through our Wanderer pages. Meanwhile we introduce you to foods to keep you warm through the winter days and chilly nights in the Palate section. Breakfast is back with a bang as innovations make it look fancier and more tempting, in our trends section. Our Wellness pages talk about the outer protective layers of foods and vegetables that offer health benefits galore.

Publisher & COO: Vikas Johari CEO & Managing Director: Prakash Johari CFO: Kuldip Singh Executive Editor: Saurabh Tankha

We talk about the efforts being made to revive one of the most ancient dying art forms of India – mask-making in the Culture section. Badminton star Saina Nehwal talks about the need for better infrastructure, coaching facilities and sponsorships to take the sport to the next level in India in CelebSpeak.

Hope we get the same love and appreciation as we did in the last issue. Please write to us and share your valuable opinions about the magazine and we would be more than happy to implement them. Please send us your feedback at tanu.kaushik@axisbank.com Thank you and happy reading Team Priority Pages

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Content

Issue 47 • Oct-Dec 2013

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New equity tax saving scheme for first-time retail investors powered by Itsallaboutmoney.com

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04

04 | 10 |

celebspeak

In conversation with badminton star Saina Nehwal

wanderer

Koln or Cologne, the perfect winter wonderland

palate

16 |

Foods to keep you warm through the winters

20 |

Reviving the dying art form of mask-making

26 |

Breakfast regains its spot of importance

20

30

culture

trend

wellness

30 |

Health benefits of the outer layers of fruits & veggies

34 |

All the dope on smart watches

34

hi-tech

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celebspeak

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Discipline is vital for

success Badminton star and world no. 4 Saina Nehwal’s life revolves around her game. The 23-year-old talks about the need for better infrastructure, coaching facilities and sponsorships to take the sport to the next level in India words Saurabh Tankha

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celebspeak

I

t is never easy to create a place in the hearts of millions, especially if you happen to hail from a nation crazy about cricket and not play the sport.

Saina Nehwal falls in the coveted list of one of the most admired non-cricketing sportspersons who have managed to do so with her consistent performance on the global arena. The Rajiv Gandhi Khel Ratna and Padma Shri awardee became the best paid non-cricketing sportsperson when she inked a 4.6 pound deal last year.

We indulge in a tete-a-tete with the Olympic bronze medallist…

Despite being a nation of 1.22 billion and having out-of-the-world sporting talent, we fail to perform on world stage. Can you shortlist a few reasons for the same?

Lack of infrastructure, coaching facilities and sponsors are the reasons I think that contributes to the situation we are in presently.

eating healthy food and taking loads of rest in between tournaments is what has helped me a lot.

How difficult is it for a player to overcome setbacks?

It is a part and parcel of your life.

One needs to just face it bravely and gracefully.

Do you have any ranking goal in mind to achieve by year-end?

Not really. I just want to keep playing the game to the best of my abilities.

What should be done to ensure that more viewers reach the stadia to watch badminton?

I prefer leaving the same to the administrators and sports planners.

How much of a difference has Pullela Gopichand made to your game?

Coaches are supreme and I respect Gopi sir and follow all his instructions religiously.

What is the definition of success to you?

Success for me is excelling in my sport and reaching the top. And for this, I need to perform consistently else it will be difficult to stay among the top five players in the world.

How important is mental toughness in sport?

Immensely important as one needs to be honestly and completely devoted to the game.

What’s your winning mantra?

Working hard with my coaches, sparring partners, following a strict gym schedule,

Who is your toughest competitor and why?

Any player who is in my draw is my toughest

Any player who is in my draw is my toughest opponent as even a lower ranked player can upset you on her day

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opponent as even a lower ranked player can upset you on her day.

In an interview, you said you wanted more Indians to challenge the Chinese badminton players. How do you think can we counter them?

By introducing more facilities and more coaches will assure this happens. But we need to do this as soon as possible.

Can you suggest a few options on what should be done so that the country has podium finish in most disciplines we participate in, be it Olympics, Commonwealth or Asian Games?

Hard work, more hard work, discipline, focus and a cool mind.

Apart from cricket, which sport is the biggest draw for Indians and which of them has the best prospects in the coming years?

Badminton has, of late, garnered enough attention from the corporate, proof of which is the recently-concluded Indian Badminton League (IBL). I hope the momentum continues and it becomes one of the major sports in the country. Tennis and soccer are also slowly gaining popularity with the masses.

Being a sportsperson, which sport do you follow and why?

Honestly speaking, badminton is the only sport I keep a tab of but I do update myself occasionally on women boxing, wrestling, hockey and tennis.

A few young sportspersons who, in your opinion, will make it big in the coming years?

Sai Praneet B and PV Sindhu from badminton and Deepika Kumari from archery have a great future ahead of them.

Your daily schedule…

Around seven hours a day, six days a week except Sundays is spent on the badminton

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Sai Praneet B and PV Sindhu from badminton and Deepika Kumari from archery have a great future ahead of them court. The regimen, decided by our national coach, Gopi (Pullela Gopichand) sir, is divided into three sessions that blends court practice, outdoor exercises and amusements games.

What are you doing when you are not playing?

Ideally, I love to catch up on my sleep, watch television and movies.

Do you pray?

I respect the Almighty.

things have no place in my life. I just want to keep winning and stay at the top.

Do you think pursuing badminton at the cost of leaving studies was a wise decision and why?

I gave up studies after class 12 as my aim was to win medals for my parents and my country. Also, I am not the only sportsperson who chose to drop out of school and became successful. The fact that I did not complete my studies doesn’t bother me.

What do you do to unwind?

Sleep and share my views with my coach and parents.

Your favourite food...

All north Indian delicacies appeal my palate.

Bollywood actor you admire the most and why?

Shah Rukh Khan as I feel he is the best entertainer we have in the film industry today. I never miss watching any of his movies.

Where does your never-say-die attitude come from?

Because I want to win, win and win.

One habit you can never get rid off?

Keep playing badminton.

How do you manage to keep yourself so grounded?

I hail from a middle-class background and have learnt to stay normal and not create a halo around myself due to the education my parents have imparted to me. Materialistic

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wanderer

The perfect winter

wonderland

Once you visit a German city, you always want to return – to anchor yourself in their normality or escape from the frenzy of your home country. Visit Koln or Cologne that best encapsulates the atmosphere of winter words Alexandra Radu

E

very resident of Cologne has more than their fair share of zest for life and partying spirit – it is in their DNA. After all, Cologne is more than just a city – it is a matter of the heart, an emotion and an unfalteringly positive state of mind. At the root of this outlook are carnival, kölsch beer and, of course, Cologne Cathedral.

Set on the Rhine Valley, Köln is one of the European cities that best capture the atmosphere of winter. The markets and stalls, put up during the cold season, are bustling with visitors. What’s more, it is just a short distance from Düsseldorf, renowned for its carnivals, shops and nightlife. You can take a more unusual means of transport to visit Düsseldorf by ferry which offers a stunning view of the Rhine Valley and is a more exciting way of sightseeing. Here, the number of monuments, historic buildings and touristic attractions is impressive, the entire town being an open-air museum that

awaits you to discover its beautiful and long history.

Overlooked by majestic Cologne Cathedral, the Ludwig Museum houses a modern and contemporary art collection of international standing. The museum was founded in 1976, when Peter and Irene Ludwig made an endowment of some 350 modern artworks. Iconic pieces such as Roy Lichtenstein’s ‘Maybe’ and Andy Warhol’s ‘Brillo Boxes’ can be viewed at the biggest pop art collection outside the United States, along with the world’s third-largest collection of Picasso prints, sculptures and paintings, a great many works of the Russian avant garde and important examples of Surrealism, Expressionism and art from 1920s Germany.

If you are interested in the culinary aspects of the area then you might not be able to taste all their traditional dishes but you definitely need to try Glühwein sausages, caramel coated nuts, gingerbread or Reibekuche. Reibekuchen are a type of American pancakes made out of potatoes

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Cologne Cathedral

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wanderer

that are served with apple sauce and are specific to the Rhine Valley. If you are not the type of traveller who is keen on visiting museums, landmarks or ruins, you can still relax in Köln as the city has it all. If you cannot find it here, you can certainly find it somewhere nearby.

The city is home to a number of interesting places which are worth a visit.

The sight of Kölner Dom or Cologne’s Cathedral while exiting from Central Station is stunning. A visit to its treasury and tower ought to be considered for enjoying some beautiful views. Twelve Roman era churches, picturesque parks and traditional neighbourhoods present in this city are worth a visit as well. From the Central Station, you can take the train to Bonn where you can test out the open air ice skating rink and maybe visit the History Museum and the Art Gallery located nearby. The latter is a rather futuristic looking building that is certainly going to pique your imagination.

If you want to explore the local attractions of Köln, consider a visit to the Dom where you get to admire decorative elements and mural paintings that leave

you speechless or prayer spaces that are separated by gold leaf decorated and painted mini altars. As the Dom of Mainz, the basement is reserved to the chapel and burial spaces. More impressive is the organ that rests in the left side of the main altar.

During sunny days, you can take a panoramic lift to the top of the Dom for a couple of Euros and admire the view from up there. However, during foggy winter days, the Dom is covered in a blanket of grey clouds, giving you the impression of a castle that loses itself in the misty sky, a castle on top of which chimeras and gargoyles rest and elements of gothic symbolism. Because these petrified guardians of the world are powerless in facing the wrath of nature, they were moved inside and exhibited as any other museum piece.

The least expensive souvenir you can buy from the Dom is around 2 Euros that you need to sacrifice as prime matter. What you need to do is introduce the coin into a machine and then rotate a lever for 30 seconds, after which you will have a very stylish medallion with the Dom indented on it. The story of how the Dom used to be kept

On a bright and sunny day, you can take a panoramic lift to the top of the Dom for a couple of Euros and admire the view from up there

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FACTS • The Organ in the Kölner Dom is situated on the northern wall of the nave and it resembles a swallow’s nest.

• If you are interested in certain animals then you can download a mobile app that guides you through the zoo and tells you their feeding schedule.

• For tech and travel lovers, the Köln iGuide can be downloaded from www.koeln.de. Although in German, the guide has all the main tourist attractions that can be tracked depending on the area you find yourself in as long as you have an internet connection.

• The Köln Carnival is the biggest event of this kind in Europe, with thousands of tourists taking part each year, enjoying grand shows during a whole week.

• An irresistible reason to visit Köln is chocolate. The city has 3,000 years in preparing chocolate, 4,000 sq m of exhibit space and 2,000 exhibits that make a day here a memorable one for chocoholics. clean in olden times is told by the dwarves who used to clean it but were seen by a local woman and they were turned to stone around the fountain that carries on their tale until today. Near this fountain you can find a variety of cafés, restaurants and shops or you can visit the Roman-German Museum.

The City Hall is close by to the Cathedral Square and from a distance it appears to be an old building, perfectly blending into the scenery. It has only a small plaque that lets you know it is a public building but that is open to tourists. Inside, behind the old wall, beautifully preserved, you will find a modern building with a cupola that contains the offices. In the hallway, you can observe the city at a small scale as well as statues that used to adorn the walls of the old city hall that was, unfortunately, destroyed during a World War II bombing. The interior court is kept and to allow it to be admired, it has glass walls.

Leaving the City Hall behind, you can stroll down the narrow and wide streets of

• Cologne has a top-quality array of cultural attractions: Over 40 museums, more than 110 galleries and numerous workshops all contain top-class artistic treasures from various eras encapsulating almost every style.

• Cologne has its own beer, which is known as Kölsch. The name Kölsch is protected by law so that only beers brewed in and around Köln can bear the name.

• Cologne is known as the city of churches, with 12 large Roman churches located within the medieval city walls.

Clockwise from above: Reibekuche pancakes, City Hall and Central Station

• Cologne was the hometown of Italian expatriate Johann Maria Farina, who created a fragrance and named it after the city. Eau de Cologne or “water from Cologne” is still famous the world-over, and still produced in Cologne today.

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wanderer

On the Rhine Valley is a promenade a few kilometres long, filled with bars, cafés, parks and outdoor terraces

the city. Old houses, in baroque style, glued to each other, with terraces and coffee shops at their front welcome you at your every step. On the Rhine Valley is a promenade a few kilometres long, filled with bars, cafés, parks, child playing areas and outdoor terraces. It is a real charming place even if you just take a walk along the Rhine. The houses that border the riverbed seem to be taken out of medieval fairytales and there are cruise trips a few hours long organised

Clockwise from right: Hohenzollern Bridge, Cologne Winter Carnival, Roman-German Museum and Glühwein sausages

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along the river, both to admire the city but also to visit the two nearby cities, Dusseldorf and Bonn. You can feel the excitement as a ship filled with noisy tourists awaits its departure on the docks.

Another landmark that is worth visiting is the Central Train Station. The station was built between 1890 and 1894 and it has been carefully restored. The trains come and go every couple of minutes, one after the other, to any destination imaginable. To get an idea of how often they come and go, during a 10 minutes wait in the station you see anywhere from four to seven trains leave.

Although it might seem busy, there are signs everywhere to inform travellers from and to what destination each train is going. More difficult is buying the actual tickets as they

are purchased from vending machines, but any friendly local will be more than happy to help. The whole ensemble, the train station, cathedral and the nearby museums, are representative icons of Köln’s history that has been for centuries an important economic, religious and cultural hub of Germany.

The final stop of the day can be the Hohenzollern Bridge across the Rhine. Not even rain can keep away the curious faces of the tourists that come to admire the proof of friendship or love and the lockets of love that are forever bound to this bridge on the fence that separated the railway tracks from the sidewalk. This tradition is not unique to Germany it is actually very common in Europe. For example, you can find it in Poland, France or Italy. Even though it is not one-of-a-kind, it is still impressive to see so many lockets at the same place, in so many colours and with a ton of messages, some funny and others sweet. Because of the increasing number of lockets, the strain put on the bridge’s infrastructure is growing.

Therefore, the administration wants to clean the fences and throw away the lockets.

One of the best times to plan your trip is when then biggest street festivity of the year, the Köln Winter Carnival, takes place.

The old centre of the city becomes a place of celebrations with an unforgettable atmosphere while the streets become populated day and

night with spectators, visitors and parade participants. The carnival has a long tradition where people let loose their creative flair and take part in parade wearing costumes representing clowns, animals and colourful characters. At 11:11 am on the first day is the official start of the carnival, and that day is dedicated to women, the main attraction of the show on the Rhine Valley. Tradition says that, during this day only, women can kiss and cut the tie of any man they wish, the romantic atmosphere being ever present.

As for accommodation, you can choose between hostels, hotels, bed and breakfast facilities. The city offers all types of rooms for all types of budgets. The city provides over 250 hotels with a total capacity of more than 26,000 beds. There are websites that offer backpackers in Köln an opportunity to book the best hostels and budget accommodations.

Their system offers real-time confirmed bookings and they don’t charge a booking fee which means the price you see is the price you pay. If you want to travel without much money you can stay out at night at the city’s camp sites and go camping in comfort. All of them offer well-kept sanitary installations and shopping possibilities.

With a history spanning as far back the Roman period, Köln is one of the oldest cities in Germany but at the same time one of the most cosmopolitan ones. For 2,000 years, the Claudia Ara Agrippinensium Colony, the name given to the city by the Romans, has managed to overcome wars and floods so much so that it is the fourth biggest city in Germany from a population and economic point of view. According to statistics, the Köln Cathedral is the number one tourist attraction in Germany, with over six million visitors every year. More than that, there are over 40 museums in the city and the income generated by tourism is over 5.4 billion Euros every year. The city is the biggest higher education centre in Germany with more than 70,000 students. Moreover, Köln can be considered a real cultural mosaic as there are more than 181 nationalities living in the city and could be considered the San Francisco of the old continent.

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palate

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Foods to keep

you warm

Stay cosy with these delicacies through the winter days and chilly nights words Manisha Almadi Midha

W

inter can be the most wonderful time of the year but the cold can take the fun out of it. As the days get shorter and there is a considerable dip in the mercury levels, indulging in outdoor exercises become near impossible which, in turn, can take a toll on our health and well-being.

Though Nature has its own way to keep the body warm, food can be a source to raise the body temperature to cope with cold weather conditions. As certain foods have more warming effects than others, here is what needs to be added to winter meals for you to enjoy the joys winter has to offer.

Whole grains and pulses The traditional Indian whole grain cereals besides wheat and rice include millets (bajra), oats, maize or corn. Whole pulses and legumes like beans, soyabean and lentils can be used in soups and stews. Millet, considered the least allergenic and the most digestible grain, can be used to make hot porridge. It helps heat the body during cold and rainy seasons. A diet rich in whole grains reduces risk of cancer, diabetes, obesity and several chronic diseases.

Herbs, spices and condiments Incorporate ginger, garlic, cinnamon, turmeric, cloves and black pepper into your daily diet. In addition to their warming effects, they contain phytonutrients, antimicrobial and anti-inflammatory properties Oct-Dec 2013 | 17  

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Chicken Pumpkin soup Ingredients Half a cup onion 2 cups mashed pumpkin 2-and-a-half tbsp butter 1 tsp salt Half tsp each of nutmeg and ground pepper Half tsp of sugar 2 cups of chicken stock Half a cup cream Method Saute onions in a pan until brown. Add mashed pumpkin.

Now sprinkle the seasonings and add chicken stock to it.

Heat well. Add cream to the mix and serve hot.

that help fight infections. Garlic has decongestant, antibiotic and antifungal properties to fight coughs, colds and sinusitis. Due to its antibacterial and antiviral properties, garlic helps fight chest infections.

It also increases peripheral circulation (circulation of blood to the extremities) and has long been used to treat seasonal colds and flu. It helps digest fatty foods by breaking down proteins. The sweet and warm taste of cinnamon makes it a perfect addition to beverages but preferably use cinnamon sticks with soymilk and honey.

Nuts and oilseeds Almonds, walnuts and flax seeds are nutrition-packed for cold days. These are nutritionally dense and take longer to digest. Keeping your appetite in check, consume them in appropriate quantities (six to eight pieces) and balance the intake with a healthy dose of exercise.

These are rich in heart-healthy fats, fibre, magnesium and vitamin E. As black and white sesame seeds provide heat, use more of this in your snacks and sweets. Sesame seeds also ward off common winter illnesses by boosting immunity, preventing serious diseases apart from having an excellent ratio of mono and polyunsaturated fats. Owing to their fatty acid content, nutritional properties and bioactive constituents, peanuts prevent several disorders and keep the body warm.

They are a good source of Coenzyme Q10 which protects the heart during lack of oxygen in winter months.

Honey and jaggery These natural substitutes for sugar have warming effects.

Green leafy vegetables Mustard greens, fenugreek (methi) and amaranth greens (bathua) are excellent sources of iron and folate. They help maintain hemoglobin levels while protecting you from infections and colds. Include, at least, one or half a serving

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High-protein foods such as eggs cause higher thermogenesis, and are suitable in winter but only in moderation

of a dark, green leafy vegetable like these and spinach in your diet.

Seasonal fruits and veggies Carrots, pumpkin, turnips, cabbage, tomatoes, oranges, guava, lime and amla are great sources of iron, folate and vitamins A, B complex and C, which boost immunity, combat viruses and bacteria and help fight infections like common cold and flu.

Lean meats, fish and poultry These high-protein foods are associated with increased heat production and higher thermogenesis. Fish is rich in zinc and Omega-3 fatty acids, both of which keep you healthy during winter. Zinc increases the production of white blood cells which fight infection. They also help control cholesterol levels and reduce the risk of heart diseases.

High-protein foods such as eggs cause higher thermogenesis and are suitable in winter but only in moderation.

Soups and stews When the temperature dips, it is time to shift from salads to soups.

It is a good idea to get some raw foods but have them during afternoons when your body is warm. In the evenings, a hearty soup or stew with lots of well-cooked root vegetables and spices help warm you up right to your frozen toes. Chicken soup helps relieve colds and flu. Avoid ready soup mixes as they contain high amount of starch and preservatives. Homemade soups and stews are the best possible options.

Hot fluids Cut down on caffeinated beverages like energy drinks, coffee and tea.

Masala, herbal or green tea, kahwa and hot water with condiments help keep the body hydrated and maintain body temperature.

Grilled foods Grilled and roasted foods stimulate the body to produce additional heat so avoid binging on fried pakodas and samosas.

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Masks of expression One of the most ancient art forms known to man, masks are dying a slow death. Fortunately some organisations are making efforts to revive this art words Upasana Kaura

R

emember the famous Jim Carrey movie, The Mask, where the celebrated Hollywood actor gets imbued with realitybending limitless powers and physical imperviousness as also manages to bypass his physical inhibitions whenever he places the magical wooden mask on his face. Or how can you forget the mask used in Scream, one of the most iconic and memorable horror masks to have hit silver screen. For those interested in World Wresting Entertainment could not have missed Kane and Rey Mysterio donning masks to conceal their identities. Normally worn on the face for protection, disguise, performance or entertainment, masks are used in sports like fencing, baseball or ice and field hockey.

India has been home to masks and the art of mask-making since the Indus Valley Civilisation (2,500 BC). In fact, mask is one of the most ancient art forms of the country and was developed in order to help other performing art forms like dance and drama proliferate into society. Unfortunately, maskmaking is a dying art today with a number of varieties having already become obsolete.

Bhoota masks, for example, originally made by the Tulu speaking community of the coastal parts of Karnataka, are not available

anymore. Similarly, Yakshagana and Kathakali masks from Down South and the three mask-wearing folk dances of Bengal, those of Chhou, Gambhira and Gamira, too are fast disappearing.

However, there is some heartening news. A few organisations have taken up the initiative to revive this art form. As a positive step in this direction, an International Mask Festival was jointly organised by IGNCA, Indian Council of Cultural Relations, Sangeet Natak Akademi and National School of Drama in New Delhi recently.

Conceived by Dr Kapila Vatsyayan, the living legend of multi-disciplinary study and an indologist of rare credentials, this unique festival started its rhythm with mask dances from India and abroad which finally culminated into IGNCA’s exhibition of Rupa and Pratirupa (Man and Mask) which displayed around 400 masks from 21 countries.

IGNCA has a collection of over 600 masks, both traditional and contemporary, from all over the country. On display are Narasingh Devta’s mask worn during the Ramman performance in Garhwal region, heart-shaped Seraikela mask worn during a Chhau performance, eight masks showing the manifestations of Guru Padmasambhava, Thane masks from Oct-Dec 2013 | 21

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Maharashtra, Lakhia Bhoot masks of Hill Jatra from Kumaon and Gambhira masks from Maldah district of West Bengal.

Earlier this year, Kolkata-based Jaarok Group located the descendants of the Tulu tribe that made Bhoota masks and got them to recreate them. Jaarok is an initiative by artists and sculptors who have been working with artisans to revive dying indigenous art forms and masks comprise a large part of their work. “These masks were originally made of metal but we have reinvented them by using wood. This was initiated as the alloys used earlier are difficult to make now. If we follow the same process, the production cost shoots up. As a result, an ancient mask could cost anywhere between `75,000 to `1 lakh today,” says Jaarok spokesperson Ananya Bhattacharya.

A number of people, especially in theatre, are working passionately towards keeping this art form alive. The performance of Thanatomorphia, by one of India’s leading modern dancers Astad Deboo, depicts the faces of death within the light and shade of hide-and-seek. Deboo uses masks and puppets extensively to create scenes for his performances.

World-renowned Ishara Puppet Theatre Trust uses masks and puppets always in most of its productions. “But I prefer contemporary over older versions,” says Dadi Padamjee, founder of Ishara Puppet Theatre Trust. “Once a stronghold of traditional puppetry where all the four forms (shadow, rod, string and glove puppetry) were popular, India is yet to grow as a committed connoisseur of modern puppet art. Though cities like Hyderabad, Chennai,

Delhi, Kolkata and Ahmedabad have contemporary puppet theatre, a majority of our work is still dated,” says Padamjee, adding he doesn’t use traditional puppets and masks.

Delhi-based theatre group, RAAG, too uses masks in some of their performances.

“We use masks for our street theatre performances but it is done sparingly. We did a few shows on ‘Saving Yamuna’ recently where we used masks of insects and fish to depict dying aquatic life,” says Ramzan Akhtar of Delhi-based theatre group RAAG. He adds masks and puppets have been replaced by moppets lately but then it can be seen as a catalyst in the growth of the mask industry and not a contributor in its decline.

Celebrated puppeteer and mask-maker Anil Saxena uses masks whenever he conducts children theatre. “We generally use them to depict the faces of animals and birds as also for fantasy shows where one needs to represent face distortions,” he says.

In religion As the Gonda and Rajgonds tribes of Madhya Pradesh worship Lord Krishna, they wear wooden masks of Krishna and gopis while performing group dances.

In Chhattisgarh, Baiga tribals celebrate Charata festival wearing wooden masks.

While Muria tribals use ones smeared with red dye, the Buyya tribe of Madhya Pradesh invokes god and sport facial masks along with numerous ornaments for ritual dances.

The Kummattikkali dance form of north Kerala has a popular masked character Thulla (witch) besides various Hindu gods and goddesses.

The Mannan community of South Malabar, Kerala, propitiates the goddess Kali and performs Poothanam Thirayam through masks. In Patayani, the week-long ritual dance of Kerala held in Kali temples on the banks of Pamba River in March-April, the village astrologer prepares the masks of Bhadrakaali, Yakshi, Pakshi (bird) and Kaalari

Decorative masks may be worn as part of a costume outside of ritual or ceremonial functions

Hunting mask from Borneo, Indonesia.

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Predator's Mask (Predator) An ancient mask of Predator warriors, its HUD features include stalking and killing prey, and also to conceal their ugly faces.

The Loki Mask (The Mask) The mask that transforms Jim Carrey with a character that has green skin, stretchy arms and the propensity to function in cartoon physics.

A sorcerer’s and healer’s wooden mask from the border of Mali with Guinea Conakry in western Africa. Conventionally worn by the shaman-healer whenever there is a healing ritual or a ritual to cast a demon out of a possessed person

A South Mexican wooden mask worn by the bachelor friends of the groom on his wedding night to find a suitable girl for themselves

Scream Mask (Scream) One of the most iconic masks, its Munch-esque design made it truly memorable.

(Siva) with areca-nut palms. Tirayattam dance form of Kerala uses wooden masks to represent deities. Nongkrem is the most important mask dance of the Khasis tribe in Meghalaya while masks hold the dominant rasa (feeling) while the body projects the bhava (mood) in Chhau dance. The stories of Ramayana and Mahabharata too are represented through Chhau. Purulia Chhau of West Bengal is the symbol of the sun-god worship through masks made of sacred wood. The characters represent deities like Shiva, Parvati and Kali with loud beats of drums during Gajan festival. Mukha Kheil (mask play) is prevalent in Jalpaiguri district of West Bengal among local Rajvamshis. The thematic dance is based on Ramayana.

To depict animals In Ganjam district of Odisha, animal mask dancers perform during the Thakurani Yatra. The tiger, bull and horse dances are typical to the state. In Algeria, animals are hunted with a ‘disguised’ mask. Thus, the pre-historic era man almost got besmeared with the world of animals and used masks to hunt, tame and dance.

In theatre In Krishnattam, a traditional performance in Kerala, the visual effects are enhanced

by use of larger-than-life masks made of lightwood and cloth padding for certain characters. Ankia Nat is a one-act folk play of Assam that uses big masks of demons, animals, gods and goddesses. These masks, made of bamboo can be as tall as 15 ft.

Actors enter in to the masks and rest them on their shoulder. Most of these characters are demons which have limited movements.

Bhand Pather Theatre of Shikargah, Kashmir, uses masks to represent deer, god and tiger, with a costume incorporating the mask. The Bhagavat Mela Natakam of Tamil Nadu and Andhra Pradesh, Prahlada Natakam of Odisha and Bayalatta theatre of Karnataka use Narasimha masks. In Ramlila, Ravana, Hanumana and Angada wear masks made with embroidered zari and brass. Masks of Ganesha are used in Dashavatara and Ranmalyem of Goa and Maharashtra.

In fashion Decorative masks may be worn as part of a costume outside of ritual or ceremonial functions. This is often described as a masque, and relates closely to carnival styles. Attendants of a costume party will sometimes wear masks as part of their costumes. Designers use them as a style statement.

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agical ornings

If you thought royal treatment was reserved for lunches and dinners, there is a surprise coming you way. With innovations making it look fancier and more tempting, breakfast has regained its place of importance words Garima Verma

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T

hey say the best part of waking up is breakfast. And the optimistic ones even go to the extent of finding goodness in being in a hospital for the sheer pleasure of getting served breakfast in bed. That aromatic cup of coffee and melting butter on a hot toast can surely have a soothing effect on most of us.

If that is a reason enough to make anyone shun slumber and jump out of bed, the motivation to do that has increased.

With the spread getting elaborate like never before and the choices ranging from anything between a perfect English breakfast, a delectable Indian platter to a variety of French crepes, croissants and more to choose from, the sun is shining all the more brightly on our mornings.

Even a junk food-worshipping place like the US has fallen in love with the concept of breakfast so much so that the American Egg Board recently revealed that breakfast had, in fact, outperformed lunch and dinner in terms of traffic and sales. Their quick-service restaurants’ shares of breakfast sales have risen by eight per cent in the last five years.

The egg items alone have seen an impressive 20 per cent rise in the breakfast menus.

And, as Nishant Choubey, cxecutive chef at New Delhi’s Dusit Devarana says the trend does not differ in the country too. “It is not anymore like the Romans who believe in a meal a day, generally skipping the most important breakfast. People have become apprehensive in terms of eating habits and hence sprouts, quinoa, healthy salads, organic meats and low cal cheeses are making their presence felt in a big way,” he says.

The rising popularity of this meal can be judged from the fact that even fast food chain like McDonald’s has started serving breakfast. Not to forget coffee giants like Barista and Coffee Cafe Day treating breakfast with due focus. Vikas Kumar, executive chef at Kolkata’s well-known and Oct-Dec 2013 | 27

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trend

Smoked Spicy Eggs Ingredients • 1 dozen eggs • 1 /2 cup miracle whip or mayonaise • 1 /2 tsp Cajun spice • 1 /4 tsp tabasco sauce • 1 /4 teaspoon salt • 1 /2 teaspoon black pepper • P aprika to serve as a topping • C oriander/ basil Leaves to garnish Method • F ire up the smoker to 200 degrees, let it get warm.

• F ill a sauce pan with water so that the eggs are completely submerged. Put the sauce pan over mediumhigh heat until it boils.

Turn off the burner, cover the pan.

• P ut whole eggs into a foil pan and put it on the smoker for 45 minutes.

• C ut the hard-boiled eggs into half and scoop out the yolk. Mix the yolk with Miracle Whip, Cajun seasoning, Tabasco, salt and pepper.

• P ut this mixture into the holes in the eggs and sprinkle Paprika. Garnish.

From Chef Pankaj Rana, Club Rhino, Gurgaon

rightlfully-craved – Flury’s – has added to the menu to cater to the demands. “More and more people are turning up at the breakfast time and they are demanding various options to choose from. Also, what is attracting many are the everincreasing options to choose from. Till a few years back, even getting cereals in your neighbourhood market was a dream come true. Now you are spoiled for choice,” Vikas says, adding the increasing levels of health and diet consciousness is another factor behind the breakfast’s makeover.

As a result, besides their traditional and very famous English breakfast that consisted of two helpings of crispy bacon, two grilled chicken sausages, one fried egg, one grilled tomato and one hash brown with either two slices of bread and butter or toast and butter with choice of juice, tea or coffee’, Flury’s has introduced another healthier version. Their Jogger’s Breakfast comes with two rashers of crispy rindless bacon, two lean chicken sausages, egg white omelette, one baked vegetable hash brown with two slices of multigrain high fibre toast (low fat preserves) with choice of juice (cucumber and spinach or carrot and orange) and green tea. The calorie count of all that is just 446! Flury’s has introduced organic foods in the menu.

“As a chef, I ensure that I cover the entire section of the breakfast. Starting from home-grown organic sprouts, an array of freshly-cooked vegetables, fresh fruits with skin so they do not get oxidised, organic vegetable juices, morning bakeries with croissants, oat meal muffins, artisan cheese and meat, pro-biotic dairies and smoked salmon on bagel are influential selections served during breakfast,” says Nishant.

Chef Tyson from Cafe Delhi Heights in Gurgaon points out that the European influence on the way we eat in the morning and rediscovery of egg as a culinary delight has only added to the experience with chefs developing innovative egg dishes featuring fresh vegetables and ethnic flavours.

“Moms and nutritionists have been saying this for ages that breakfast is an important meal for the day. Eggs have been the healthiest ingredients that give energy to the body. People have started preferring

eggs and omelettes over pakoras and paranthas,” he shares.

India is, in fact, emerging as the world’s second largest poultry market. With an annual growth of more than 14 per cent, the country is producing 61 million tonnes or 3.6 per cent of global egg production.

Organic eggs are being used in various preparations and duck and quail eggs are creating a different experience. Spirulina egg white is another hit among the connoisseurs.

Eggspectation at Jaypee Vasant Continental is one of the most frequented places among the egg-lovers in the National Capital. “At Eggspectation, we work by the concept of fresh and live. Our variations of the humble egg and egg white preparations are at the top of our customer’s list,” reveals F&B manager.

“The guests these days are selecting their place of stay by the breakfast spread

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Breakfast is my speciality.

I make orange and ricotta pancakes, crepes and eggs for Sunday breakfasts.

You know men. We usually go for breakfast because it is the easiest thing to cook and then we try to make it look fancy.

– Hugh Jackman

available. The professionals are so welltravelled and knowledgeable about various cuisines and their health benefits that you have to cater to every taste now,” says Abhishek Basu, executive chef, The Park Delhi.

“Unlike 10 years back when people wanted their stomachs to be filled up by grease, they now want power breakfasts with lots of fresh components that give energy but feel light. We serve as many as six types of cereals, 12 varieties of bakery items, sprouts, vegetable salads and more. The walk-ins at our hotel during breakfast hours have gone up significantly in these last few years. More and more corporates are preferring breakfast meetings now,” adds The Park’s food and beverages director Debjeet Banerjee.

With new-age breakfasts and their ever-innovating variations adding to the charm of the mornings, the world is surely not only set to get healthier but wake up early too, with a smile at that.

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Peel them

not

The outer protective layer of fruits and vegetables offers more health benefits than their inside words Nina Dinshaw

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D

id you know that the peel of a vegetable or a fruit you comfortably get rid of contains more than four times as much fibre as the vegetable or the fruit inside and more tangeretin and nobiletin – flavonoids with anti-cancer, antidiabetic and anti-inflammatory properties?

While the outer cover does protect them from environment as well as micro and macroorganisms, peels, also known as rinds, have several phyto-nutrients that help maintain good health. We have all been witness to fruit and vegetable skins being peeled and called unsavoury due to their tougher texture and bitter flavour but we have never realised why it is bitter? It is due to the presence of those nutrients. We bring you the benefits of a few vegetable and fruit peels.

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Fruits and Vegetables You Should not Juice with Peels Citrus Fruits The peels of oranges and grapefruits contain oils that can cause indigestion.

Always juice the peels of oranges and grapefruit minus peels!

Mangoes Mango skins are edible so you can leave them on when you juice the fruit. However, they can cause an allergic reaction in some people. The skin of mangoes is filled with vitamins and nutrients but it also contains a chemical called urushiol which is found in poison ivy and responsible for itchy rashes. Not everyone will have an allergic reaction but if you are not sure, it is best to avoid eating the skins.

Squashes Squashes – like pumpkin and butternut – have peels that are too hard for your juicer. Make sure to peel these off but peel as little as possible (so you leave the part that is closest to the peel that is the darkest colour of the flesh since this is where the most nutrients are).

Did you know that the peel of a vegetable or a fruit you comfortably get rid of contains more than four times as much fibre as the vegetable or the fruit inside?

Watermelon rind

Pea shells

Whenever you dispose watermelon rind, you throw away vitamins, minerals and fibres which are medically beneficial. “A watermelon rind is not calorie dense and has 1.8 calories per inch cube. This rind may not provide you macronutrients but is good source of micronutrients. One serving suffices 2 per cent of your daily vitamin C and 1 per cent vitamin B6 requirement.

This helps add bulk or roughage without a lot of calorie additions. In addition, rind also contains fibre, potassium and lycopene,” says Pooja Kulkarni, diet consultant, Just for Hearts.

According to agricultural researches, watermelon rind contains citrulline that is used for the process of protein synthesis.

This helps in protein building and thus gives our body long-lasting energy protection against muscle fatigue. Citrulline is used for production of arginine that is essential in cell division and healing wounds. In fact, right amount of citrulline helps maintain immunity apart from being good for skin. “We can use watermelon rind in a variety of dishes like salads, soups, stir-fries, mocktails, juices, cutlets and paranthas. While using rind, remember that once it gets separated from the red flesh of the watermelon, the chances of it getting spoilt increase. Hence, use the rind last,” adds Kulkarni.

Another powerhouse of nutrients, pea shell is composed of vitamins A, C and K as well as minerals. “They are low in saturated fats, cholesterol and sodium as well as calories.

Not only are they rich in dietary fibre, pea shells contain a fair amount of iron. For example, 100 g contains around 2 mg of iron. Health benefits include aiding in weight loss, increasing immunity and protecting against heart ailments and hypertension.

Their antioxidant property helps fight against free radicals. The best way to consume pea shells is fresh, in salads or they can be sautéed. They can be used for garnishing dishes or by themselves can be cooked as a vegetable,” says Dr Ambica Sharma, nutritionist, Columbia Asia Hospital.

However, always ensure that you wash them properly before consuming them so as to eradicate pesticides or harmful chemicals sprayed on them. Importantly, sort them carefully for worms before consumption.

Orange peels Orange peels being used in cosmetic products like bathing oils, face packs and hair-treating agents is a known fact but not many are aware that dried orange peels are used as a primary ingredient for air fresheners and mosquito repellents. “An orange peel contains four times more fibre

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than the fruit inside. Thus, it can be used to treat constipation as it assists in clearing out the pathway for bowel movement,” shares diet consultant and diabetes educator Shweta Kate.

The peel also contains some flavonoids which act as anticancer, anti-diabetic and anti-inflammatory agents. According to USDA, the peel of an orange gives around 97 kilocalories and 1.5 g proteins as also 25 g carbohydrates and a maximum of 10.6 g fibre which fulfills 28 per cent of our daily fiber requirement. Apart from macronutrients, it is a good source of micronutrients like vitamin A, B-Complex, folate, magnesium and zinc. Additionally, the peel of an orange fulfills almost completely the daily requirement of vitamin C. They are a boon for people with severe anxiety, depression and headache. Vitamin C present in the orange peel is a remedy for curing bronchitis as it helps in bringing down infection gradually and thus reducing the severity of the disease. “Burnt and powdered orange peel, when mixed with vegetable oil, helps in curing skin infections or frost bites. It is used in curing skin allergies and protecting the body from skin cancer. As it boosts immunity, orange peel manages simple infections like common cold and cough and improves overall health and wellbeing. As far as possible use fresh peels immediately. Never store them for long,” advises Kate.

preventing it from scar tissues. The high fibre content maintains sugar and cholesterol levels in the body, helps in weight reduction and reduces constipation. Not many know that the presence of sulphur compound causes the burning sensation in the eyes while peeling or chopping onions,” says dietician Komal Malik. Sulphur is essential for the body to synthesise glutathione, an endogenous antioxidant. It is also required to synthesise taurine which is responsible for the working of our cardiovascular system as well as the central nervous system.

Onion peels can be consumed in a number of ways. “They can be boiled and used in different vegetables. Else they can be dried and powdered to be used as a masala in various dishes. This significantly enhances the taste of the dish but the powder should always be stored in an airtight container.

Now that you know rinds and peels are nutritionally loaded, go ahead and relish them on your plate to stay healthy forever.

Onion peels They may bring tears to your eyes while you peel them off but onion peels are a powerhouse of good health in real life. “An onion peel contains flavonoids, vitamin C, sulphur compounds and has high fibre content. The flavonoids help in preventing different types of cancer and lowering blood pressure. Vitamin C helps in the formation of collagen thus making the skin glow and

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Watches as

smart as you When everything from mobile phones to homes is going smart, why watches should not be in the race? It’s now the turn for watches to turn smart, and throw hand-held phones out of the trade. It’s time to get all the dope words Sumantha

L

et’s say, you time travel to 1995, the year when the launch of India’s first mobile phone was still 365 days far and till now, you have always referred to a watch to find out what time of the day it is. Then comes 1996, the year when India’s first mobile phone is launched. Now this new-age communication device is used not just to make or receive calls, but also for a host of other things, one being to know what time of the day it is. Suddenly, the mobile phones start to threaten the existence of watches and to a great extent are able to push watches into the by lanes of just the collectors or people who are intrigued by timepieces. If watches were humans, they had every reason to envy mobile phones.

This year, 2013, the tide has once again turned in favour of watches that are all geared-up to give mobile phone developers a run for their money. Read on as we tell you everything that you need to know about smart watches, the concept that recently gained momentum after the messiah of smart things, Apple, apparently filed a patent application for the name of the ‘iWatch’, and while it lack specific details as to what the gadget does and is like, we dig out crucial dope that has surfaced in bringing up this revolutionary product.

Smart watches: The big deal For users the technology can be simply defined as an extension to watches that would enable them to perform various functions like connect to social media, make calls, receive calls, check text messages, double up as a calculator, play videos, music, connect to radio and do more than just tell the time, day and date. With time, as the technology would develop, some of these watches would be able to click photos, measure temperature, speed, altitude and atmospheric pressure. In future, these watches would be a mobile phone in its own.

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hi-tech

to the mobile phones, which means these are connected to the handsets via Bluetooth and are used to control the phones.

Current status Sony is the segment leader worldwide.

It recently launched SmartWatch 2, the successor to its SmartWatch at a price of `14,990 in the Indian market. Though the company during the announcement of SmartWatch 2 in June had promised that the device would be available in September worldwide, the product will now hit the stands sometime now. Compared to the 1.3-inch screen and 128x128 display of SmartWatch 1, the successor comes with a bigger 1.6-inch screen with higher resolution

Through this watch, you can also read previously downloaded e-mails when not connected to your phone. Even the volume and tracks in your phone can be controlled

220x176 pixels resolution, and it is being positioned as the second screen for Android smartphones, which means it will let you receive notifications from your handsets and simultaneously control its functionality like messages, calls, email, Facebook or Twitter, Calendar. The latest launch that comes with lots of pre-loaded apps can also be used as a remote for the walkman and other digital media player. The camera app in it lets you remotely click pictures, control your power point presentations remotely using Presentation Pal. If you are a fitness freak who goes out to jog every morning, you can

download a mapping app on SmartWatch to check your route and register your daily jogs. Through this watch, you can also read previously downloaded e-mails when not connected to your phone. Even the volume and tracks in your phone can be controlled through this phone. This watch can be charged via a standard Micro-USB cable, water-resistant and can be customised using any standard 24mm strap.

The best option When Sony launched Smart Watch 2, it was said that it was an answer to Samsung’s Galaxy Gear that has been designed to work in sync with a Samsung phone or tablet. Though the initial media reviews of

this gadget have not been very impressive, this watch does have its high point like its looks, which has been unanimously applauded. Gear costs £299, works with Galaxy Note 3 and Note 10.1, is just a little under a centimetre thick, is light and looks exactly like a normal watch. You get to choose straps in black, gray, orange, beige, gold and green colour. The watch that has been tastefully done fits well fastens tightly and securely. Once you press the power-on button, which is on the side, you get to select apps that you would like to download. You can flick left or right to swipe through the

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Benefits of Smartwatch

apps, and whenever you want to go back, you can swipe down. The home screen is clutter free and easy to use. The camera is 1.9 megapixels with a non-mutable shutter sound. The dialler is also easy to use.

Whenever there is an incoming call, the call is reflected on the home screen and talk through it. The microphones and speaker deliver a clear sound. The list of preloaded apps can be extended with apps. The apps can be easily installed and removed using the Smartphone. Those who have got a chance to use Gear say that the battery life is so good that you can use it for more than two days on a single recharge – now that’s magical considering the poor battery backup of SMART THINGS we are bombarded with. Even the Bluetooth 4.0 doesn’t drain the batter like the earlier versions, so that’s another plus point. Then comes the 320x320 pixels display, which isn’t great, but is enough for now, and so is the 800 Mhz processor that keeps everything running.

The change apple will bring in The tech giant has some plans about smart watches on paper. According to media reports, the wearable tech is being developed by a team of the best of iPhone and iPad engineers Apple has. Then there are app developers, marketers and designers who are working on the project.

The iWatch (Apple’s fascination with ‘i’ would not have got that easy) communicates wirelessly with the iPhone in a user’s pocket and offers interactivity without having to remove the iPhone from the pocket. Text messages and email notifications pop up on iWatch screen, giving the user a clue what

they’re about before deciding whether to pull out the phone and deal with them.

What will the iWatch be like?

Tentatively, the iWatch will be launched in the early 2014. It could be one of the most stylish and minimalist design breakthroughs of the telecom story. If all goes well Apple’s ace designer Jony Ive will come up with yet another masterpiece. Chances are that Siri might function in iWatches, however, that is not being considered a good news for people who didn’t find Siri of any help in their iPhone, something that will dent the reputation of iWatches.

The informational modules of iOS 7 — the clocks, stocks and compass, etc.— have been created in anticipation of how they will play out on a watch face (among other places, of course.) The kinds of apps that will work on the wrist are minimal and simple, but they will need to be very easily configurable from the iPhone or the watch itself. To make the device scratch resistant, Apple might use its latest patented material, which is thought to be double durable than titanium. Its use would make both the next iPhone and watches a lot more durable and resistant to scratches and shocks.

What’s next?

Even Google, it seems, is interested in developing smart watches. Sometime next year, it will have some solid plans to share.

According to a report on www.mashable. com, there will be 1.2 million smart watch shipments worldwide this year, seven million in 2014 and 140 million in 2018. As of now, the sales are just in thousands.

• Be Fit & Healthy They provide health related data & help us remain fit & healthy.

Apple’s iWatch is expected not only to have calorie counter & pedometer but also a heart rate monitor.

Few also include step counter which tells the steps taken during our daily routinely, distance counter which tells the distance we covered.

• Internet Access It can be an add on as a Bluetooth equipped peripheral to our Android gadgets to give the plug ins on wireless Internet connectivity.

• For Music Lovers It can play the role of remote control to select and play a song from our mobile’s storage, change tracts and adjust volume.

Few of them even support internet and FM radio. Just slip down into the world of music after a hectic schedule.

• Stay Socially Connected & Updated The apps from Google Play Store will enable us to check weather condition, go through latest news, game score, reading mails, Facebook shares and tweets from Twitter. Apart from this, there are many other benefits of Smartwatch in social field even when we are in an important meeting or conference.

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www.itsallaboutmoney.com

Debt mutual funds

and you A look at the role debt mutual funds could play in investor portfolios

M

utual funds are investment vehicles which investors can make use of to pool their surplus monies and invest collectively across various market linked instruments. There are two broad categories of funds available for the retail investor: Equity and debt mutual funds. While equity funds are the more popular variety as also oft-followed, debt funds are often given a miss. Not

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Debt funds are often given a miss. Not many retail investors are even aware of the various categories of debt funds and their importance in their individual savings portfolios

many retail investors are even aware of the various categories of debt funds and their importance in their individual savings portfolios. This article takes a look at the role that debt mutual funds could play in investor portfolios.

Types of debt mutual funds There are various types of mutual funds at the disposal of investors today which are a play across the entire risk-return spectrum. Money market funds (liquid and ultra-short term funds) are very short-term investment vehicles which are ideally suited for investors who want to park their surplus funds for a period of a few days to up to six months. These funds maintain a very liquid and high credit quality portfolio and the interest rate risk here is miniscule to nil. Short-term and medium-term funds are short-term investment vehicles which are ideally suited for investors to park money with six months to one year time horizon.

The idea behind a short-term bond fund is to provide returns better than money market funds over the short to medium term at a slightly higher risk. These funds focus on

creating a portfolio of quality corporate bonds and Government securities with one to five year maturities. The strategy adopted is to play both duration as well as accrual and hence, these funds while enjoying a higher accrual, also gain from capital appreciation as yields inch lower in a falling interest rate scenario.

Long-term funds are investment vehicles which are ideally suited for investors to park money for a one-two year time horizon and above, with an intention to benefit from falling interest rates. These funds invest in papers with up to 30 year maturity with weighted average maturity of the portfolio in the range of five to 15 years. Such schemes perform handsomely

High

Long-term funds

Advantages of investing in debt mutual funds

Risk

Medium-term funds Accrual strategy funds

Medium

Short-term funds

Low

Ultra short-term

Liquid funds Return Low

Medium

Table 1: Positioning of debt mutual funds on the risk and return spectrum

in a falling interest rate regime by rewarding investors through capital appreciation, albeit accompanied with a higher volatility.

Accrual funds is another category of debt funds whose principal intention is to invest in debt securities across the yield curve and credit spectrum with a focus on higher yield.

The focus of the fund manager is to buy papers with higher yield (by compromising slightly on liquidity if you will) and hold the papers till maturity. These funds typically carry a higher exit load which is usually in line with the average maturity of the fund.

Fixed maturity plans are also a popular category. These funds are close ended in nature wherein investors’ monies are redeemed only on maturity. Such funds invest in high quality investment grade papers maturing in line with the maturity of the scheme and hence carry no mark-tomarket risk.

High

Having looked at the different types of debt funds, let us now understand how these products could benefit individual investors: Stability Debt funds add stability to investor portfolios since they are less volatile as compared to equity mutual funds (which invest in the stock markets). And while one may see some bit of volatility over the shortterm with certain classes of funds (long-term gilt and income funds), one needs to bear in mind that the inherent volatility is far lesser over the longer term (one year plus) when compared with equity funds.

Tax efficient Debt mutual funds are more tax efficient than other similar products in the debt segment. If the Oct-Dec 2013 | 39  

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investment horizon is extended beyond 12 months and above, then long-term capital gains are applicable at either 10 per cent (without indexation) or 20 per cent (with indexation), whichever is lower. Most other fixed income offerings on the other hand are taxed as per the relevant tax slab that the investor falls under.

Capital appreciation in addition to accrual Apart from the accrual that such funds carry, debt funds also benefit investors by offering a chance of capital appreciation, given a falling interest rate regime. Interest rates (or yields to be precise) are inversely related to NAVs of debt funds – NAVs go up when rates fall and vice versa. Given the interest rate scenario that we have been witness to in the recent past, investors have been rewarded well by way of capital appreciation.

Greater flexibility as compared to other fixed income investments Debt funds offer the investor the luxury of flexibility; individuals can undertake an SIP in a fund which may not be possible in traditional investment instruments (the recurring FD could be an exception). Also, STPs could be looked at to transfer fixed amounts into say, equity funds. Similarly SWPs can also be looked at.

Liquidity All funds (barring close ended ones) offer investors easy liquidity by way of redemptions and the monies being credited in their accounts on T+1 day, T being the date of redemption. In addition, investors also have the flexibility of online transactions as well which may an added feature when compared to most traditional small savings instruments.

All funds (barring close ended ones) offer investors easy liquidity by way of redemptions Hence as can be seen from the above, debt funds can stake a claim in investor portfolios. However, a caveat is in order here – in a scenario when interest rates are north bound, investors need to be wary of ‘going long’ or having duration in their portfolio since there will be volatility (‘both ways’) in the returns that one may witness. This is where the expertise of an investment advisor comes into play; she can guide you according to your investment needs and risk profile among other parameters.

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