Oct 28 Pages 27-40

11 Friday, June 10,202011 er 28, .com Octob y a -news n id a Fr c i r me indoa www.

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IndoAmerican News

Business IndoAmerican News

STOCKS • FINANCE • SOUTH ASIAN MARKETS • TECHNOLOGY

‘Lufthansa Technik Scouting for Indian Partner’

HAMBURG (IE): Lufthanza Technik, the world’s leading provider of technical support services for aircraft, is scouting for a local partner in India.

“We are working. Our strategy is to find a local partner in India.

We are in negotiations,” Julia Michaelis, the Spokesperson for

routine maintenance to a complete overhaul, and from the repair of a single defective component to managing the entire spare parts logistics chain.

According to Julia, Lufthansa Technik no longer relies exclusively on the experience it gains from maintaining the Lufthansa fleet to

Lufthansa Technik, sister firm to Lufthansa Airlines is one among the fastest growing in the aviation industry entering India, providing technical support services for aircraft is searching for a local partner in India

Luthansa Technik, told a group of visiting journalists from London.

Lufthansa Technik, whose sister concern Lufthansa Airlines has code-sharing arrangement with Air India, has a unit in Delhi where its components are pooled. It provides a full range of services from

uphold its reputation for professional excellence. The company now wants to consolidate its presence in fast growing aviation industry in the emerging markets, including India, with indigenous airlines choosing to engage services of companies with specialist know-how to handle

NEW DELHI (IE): The Congressled UPA government is likely to approve a plan to allow foreign airlines to buy stakes in Indian carriers, India’s industry secretary said on Monday.

It is likely to happen, R.P. Singh said over the phone, when asked if a proposal to allow foreign airlines to invest in Indian counterparts

would be approved by the federal government.

India allows foreign investment of up to 49 percent in Indian carriers, but foreign airlines are not allowed to invest directly or indirectly in domestic carriers.

The proposal will come as a lifeline to struggling Indian carriers saddled with high debt

parts or all of their maintenance requirements for aircraft, engines and components.

“In this growing market, the Lufthansa Technik group is not only a pioneer but also the largest provider. Over half of its more than 26,000 employees work for subsidiaries and affiliated companies outside Germany. They take care of aircraft, engines and components for nearly 750 customers around the globe,” she said.

The company has already made inroads into Asia; Ameco Beijing (Aircraft Maintenance and Engineering Corp.) is an established joint venture with Air China, and the largest maintenance company in the People’s Republic of China.

Lufthansa Technik Philippines, based in Manila, and Lufthansa Technik Shenzhen in Southern China, just across the border from Hong Kong, are other subsidiaries of the company managing the operations in Asia.

“The key to obtaining such strong market positions, as exemplified by the Asian market, is to operate as a one-stop shop. Local customers are able to obtain a rapid allrounder service from a single provider offering an extensive range of services. Such services are backed up by a worldwide network capable of handling all the technical details,” she said.

Supercars for India’s Millionaires DALLAS (DFP): Lamborghini sees opportunity in the streets of Mumbai, India, where threewheeled rickshaws zigzag through bumper-to-bumper traffic.

Volkswagen’s supercar maker plans to open its second dealership in India this year to meet increased demand for cars including the 36.9-million rupee ($750,600) Aventador, said Mohan Mariwala, managing director of Lamborghini Mumbai. Ferrari, which opened its first dealership in May, says it plans to open four more by 2012.

The surging number of millionaires, projected to more than double in India by 2015, is prompting supercar makers to expand in a country where the World Bank estimates more than 75% of people live on less than $2 a day.

The demand for top-end models is a contrast to overall car deliveries, which have declined three straight months on higher borrowing costs.

The number of millionaires in India will increase to 403,000

Foreign Airlines to be Okayed for Aviation in India

and mounting losses in a crowded and competitive Indian aviation market.

Kingfisher Airlines, whose auditor had recently said that the airline needs fresh funds to remain viable, rose nearly 6 percent. Jet Airways rose 3.6 percent, while SpiceJet advanced 4 percent.

by 2015 from 173,000 in 2010, Julius Baer Group and CLSA AsiaPacific Markets said in a report in August.

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For the limited run of 10, they started with the basic FF -- 651 horsepower V12, seven-speed dualclutch automatic, Ferrari’s all-wheel drive system, nifty configurable interior with seating for four or room to carry your bike. Neiman’s then added a unique gray paint job -- the color is “Grigio Caldo.”

The interior features, of course, a numbered plaque to impress your passengers and buttery semi-aniline leather -- an upscale leather tinted only with aniline dyes and then sealed for protection.

The car comes with a set of custom, fitted luggage in the same leather, with FF and Neiman’s badges. Also the package has enrollment in the 2012 Ferrari Winter Driving Experience in Aspen, Colo.

Talk about l u x u r y , Lamborghini can provide the max to millionaires vying for it.

All this can be yours for a mere $395,000, plus taxes.

The 2012 Ferrari FF is presented during the unveiling of the Neiman Marcus Christmas catalog in Dallas on Tuesday. The sports car priced at $395,000 jumps from 0 to 60 m.p.h. in less than 3.7 seconds and can go at least 200 m.p.h.

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By Hannah Seligson NEW DELHI (NYT): Daniel Epstein wants to get one thing straight: He is an unreasonable man.

Happily, proudly unreasonable.

Entrepreneurs who want to change the world, he says, have got to be a little crazy.

Epstein is a co-founder of something called the Unreasonable Institute, in Boulder, Colo. For the last two summers, he has helped preside over this academy for entrepreneurs who want to solve social problems and make some money, too.

Part schmooze-fest, part group hug, this six-week program connects entrepreneurs with one another, as well as with executives, investors and thinkers who might help them. Its name derives from a quotation by George Bernard Shaw: “All progress depends on the unreasonable man.”

Welcome to the age of the spreadsheet humanitarian. The central idea of the Unreasonable Institute is that profit-making businesses can sometimes succeed where their nonprofit counterparts might falter. Epstein, 25, and a serial entrepreneur, says the Unreasonable Institute wants people who are willing to think big, even when skeptics scoff.

Competition is stiff. This year, about 300 people vied for 26 spots.

Many who have attended praise the program for its networking opportunities. Some have even gotten businesses off the ground.

One of them is Ben Lyon. Two years ago, Lyon, a recent college graduate in international relations and economics, was in Sierra Leone and feeling highly discouraged.

Through a nonprofit group, he had tried to start a pilot program meant to allow microfinancing organizations

‘Unreasonable’ Ideas, Indian Solutions

to receive loan payments via their cellphones. But he just couldn’t get it off the ground.

Today, he is running Kopo Kopo Inc., which is based on that earlier effort. With four full-time employees in Kenya, it offers a mobile payment app that helps people make purchases in areas where banks don’t exist or where fees are too high for the poor to open accounts.

How did it happen? Lyon, 24, originally from Hanover, N.H., attributes his success to a commercial structure he created with the help of the institute. So far he has raised nearly $1 million from institutional investors.

“We select for-profit ideas that we think have the ability to meet the needs of at least one million people,” says Epstein, who founded the institute along with Teju Ravilochan, 24, and Tyler Hartung, 26.

The selected entrepreneurs include people like Myshkin Ingawale, 28, of Biosense Technologies, which makes a device that tests women and children for anemia; Luis Duarte, 30, who started YoRecicolo (I Recycle) in Monterey, Mexico; and Jamie Yang, 31, founder of a EGG-energy, a company based in Tanzania that sells rechargeable batteries through a portable power grid.

The institute conducts its program at a fraternity house it rents at the University of Colorado. The six weeks are intense and communal.

Fellows sleep three or so to a room.

A chef prepares three in-house meals a day. The fellows dine at a table seating 60, alongside mentors who might include the chief technology officer of HewlettPackard or the former director of Google.org.

On any given day, the fellows might go on a hike or a bike ride with a potential investor, attend a workshop about building corporate partnerships,” when two entrepreneurs present their companies to the rest of the group for feedback. At the end of the program, the fellows travel to San Francisco and pitch their ideas to a

the WaterWheel, to consumers — was an easy one. “When people make choices in a market economy, they are deliberately choosing the solution that best meets their needs, she says.

Lyon, of Kopo Kopo, agrees that it’s time to use more commercial muscle to help solve global woes.

His company plans to generate

29

to get creative with their financial mechanisms, but most firms and funds aren’t comfortable with that.”

Nevertheless, about half the fellows in last year’s class received financing, ranging from $40,000 to $400,000, from investors.

Epstein is no stranger to starting businesses. He turned down Princeton to go to the University of Colorado because he thought it would be “less academically intense” and give him give more time to be an entrepreneur.

By the time he was 19, he had started two companies: Tuition Specialists, which helps out-ofstate students at the university work through the complicated process of paying in-state tuition legally, and Unreasonable Adventures, an ecotourism Web site.

He set about creating the institute, which is a nonprofit, financed through a combination of private A nurse uses the ToucHB, a noninvasive testing device, to screen a donations and grants. pregnant woman for anemia in Parol village, 40 miles from Mumbai The institute, which has four group of investors. revenue through small subscription board members, has raised more Epstein says market-based fees. “The nonprofit space has than $300,000 to run the program. solutions are important in spurring been so massive but has had During the first week of this economic growth throughout the disproportionally little impact in year’s institute, Raj Janagam, developing world. solving some of the world’s biggest founder of Cycle Chalao, a bicycle“This is really in contrast to the problems,” he contends. sharing program based in Mumbai, prevalent model of international But investors can be leery of received an e-mail from the Ministry aid,” says Cynthia Koening, 33, commercial social ventures. One of Urban Development in India who attended the program this obstacle is due diligence. Investors requesting a meeting to discuss a year. Her company, Wello, based generally “can’t go to Liberia or government partnership with his in Rajasthan, India, is aimed at New Delhi to kick the tires before company. people — most of them women — they write a $50,000 check,” says “I had never raised that amount who must walk long distances to Nick Flores, investment director of money in my life,” Janagam bring drinking water to the home. at Investors’ Circle, a network said. “In India, $2,000 is a lot of Her cylinder-shaped product allows of more than 150 people who money. It was amazing the kind of women to roll water home from the finance businesses with a social or support I got.” source rather than carry it on their environmental impact.

As for the meeting with the heads, which can be dangerous and He says one question kept ministry, Janagam says it gave time-consuming. tugging at him when he attended the Cycle Chalao national credibility, Ms. Koening says the decision institute’s pitch day last June: “Is it and moved it closer to a partnership to run Wello as a commercial financial first or impact first?” The that will help it expand throughout business — it will sell its product, network, so far, has not invested India over the next few years. in any companies based on those For others, the benefits are not pitches, he says. that instantaneous. Ingawale, 28, Adopt a pet today! 713-869-7722 Epstein says: “These companies and a 2011 fellow, recently quit his Visit www.houstonspca.org are forcing investors to rethink job at McKinsey & Company in investment terms beyond just having Learn more by visiting their website today!

Continued on page 31 equity that liquidates. They’ll have

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October 28, 2011

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Allegations of Financial Malfeasance Split Wide Open in Anna Hazare Team

By Raj Kanwar “Split wide open” malady seems to have struck Team Anna Hazare with two of its leading members PV Rajagopal and Rajinder Singh (popularly known as ‘waterman’) openly disassociating themselves from “India Against Corruption” (IAC), the flagship organization floated by Anna Hazare and Company. The two senior members openly voiced their dissent over the movement taking a “political turn”, and took exception to the Team members launching an anti-Congress tirade in the recent Hisar (Haryana) Parliamentary bye elections. Their main complaint was that the decision for this anti-Congress campaign was not taken or even approved by its Core Committee.

Even the ink has not dried on their letter of disassociation when another prominent team member, Kiran Bedi faced charges of fudging her travel reimbursement bills. In a major front page story last week The Indian Express exposed the routine practice of Bedi in claiming from her hosts exaggerated travel expenses almost thrice than what she would actually spend. It may be added that Bedi is often invited to give talks/lectures by various non-profit and other organizations with the hosts looking after her local hospitality and reimbursing her air ticket etc. The newspaper gave 12 instances of fudging. There was a virtual outcry even from

those who had actively supported Anna Hazare’s anti-corruption movement. In her defence, Bedi

Swami Agnivesh

justified overcharging for her travels claiming that “she is taking money for the rich to feed the poor”. Bedi’s reply to these charges, to say the least, was naïve. Noted columnist Tavleen Singh wrote that Bedi’s was a Robin Hood defence.

Singh further wrote, “in that case instead of cheating on her travel bills, why did she not ask, openly and honestly, for donations from the institutions who invited her to speak at their meetings?”

If Bedi’s financial malfeasance was not enough, came another bombshell from no other than Swami Agnivesh, who openly accused Anna Hazare’s principal aide Arvind Kejriwal of diverting

funds received by “India Against Corruption”, to his own non-profit Public Cause Research Foundation (PCRF) trust. He further alleged that Kejriwal had siphoned Rs. eight million donated by people for Anna Hazare’s movement.

These allegations too received support from Rajinder Singh who asked Kejriwal to “come clean on the matter of donations to Anna Hazare’s movement.”

However, an Anna Hazare team member refuted the allegations and said that these were motivated and “made out of anger”. He further said that “all the details regarding their account would be posted on the website of PCRF by the month end”. But the detractors claimed that none of the key members of the team were on this trust; it was almost entirely run by Kejriwal.

Agnivesh, however, clarified that he was not blaming Kejriwal for deliberately doing so but his protest was against lack of transparency.

“I wanted the audit of accounts to be completed by 15th October and had asked Kejriwal at a Core Committee meeting to post the accounts on the website.

Earlier, Justice Santosh Hegde who was Lokayukta in Karnataka had parted company with Team Hazare for its blatant political stance.

Raj Kanwar is a Dehra Dun based freelance journalist and write columns on current affairs for local and national newspapers.

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Mumbai to start Biosense Technologies, which makes the ToucHb, an iPad-size device that tests women and children for anemia.

In 2008, Ingawale was in a village outside of Mumbai and witnessed a woman die in childbirth because of complications related to anemia, which she had never been tested for. “I come from an engineering and consulting background,” he said, “so it struck me that there had to be a business solution for a disease that impacts millions of women and children in South Asia.”

Ingawale and his company have a long road ahead, even though the World Health Organization named ToucHb as one of the new emerging technologies to address global health concerns.

Like any start-up, the company will have to raise capital, but it will also have to navigate issues specific to socially minded ventures: How to market a product in the developing world? And how to strike the right balance between being a profit-making business and having a social mission?

Ingawale went searching for answers at the Unreasonable Institute. He says he didn’t come away with much that was concrete, but he felt more energized.

“Being at the Unreasonable Institute created the complete feeling that we can do anything,” he says. He also met people like Rajesh Anandan, a senior executive at Unicef. “That’s someone I will definitely be reaching out to,” he says, “when it

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makes sense to deploy ToucHb across the developing world.” The device is now in clinical trials.

For some participants, the institute is just one stop on a kind of social entrepreneurship circuit; they’ve been awarded numerous fellowships, won different business plan competitions and are regular faces at industry conferences. For others, the institute is their first encounter with this scene. This is especially true for many of the 60 percent of fellows who live outside the United States.

By coming to Boulder this year, Duarte of Mexico, founder of YoRecicolo, which operates recycling programs, was able to meet like-minded people who work on recycling and waste issues. He even received an invitation to speak at a Clinton Global Initiative conference in New York last month. His company has been profitable since last year.

Like Mr. Duarte, Janagam of Cycle Chalao found that the institute helped him forge contacts with other people interested in tackling social issues.

“I do not come from a business family,” Janagam says. “I lack connections with high-profile people.” After six weeks, though, his smartphone was packed with contacts.

Competition is stiff. This year, about 300 people vied for 26 spots. Many who have attended praise the program for its networking opportunities. Some have even gotten businesses off the ground.

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ENTERTAINMENT

October 28, 2011

RA. One Breaks Barriers: Scores Many Firsts

By Taran Adarsh I’ve often heard people say, film-making is nothing short of a gamble. And as any gambler will tell you, you’ve got to gamble huge to triumph huge. Going by this logic, Shah Rukh Khan is The Supreme Gambler of the year.

What’s at stake, beside the big money invested in RA.ONE of course, is a dream, a vision, an aspiration to make a film which appeals to kids and kids at heart. In short, attempt a film that appeals to the universal audience. At the same time, it ought to raise the bar for Hindi films.

Also at stake is SRK’s once-unchallenged supremacy as the reigning idol of Bollywood and that elusive thing called reputation. When you invest your repute in your dream project and stick your neck out, you expect nothing short of a mega-success.

Write your own movie review of Ra.One Movies like KRRISH and ROBOT initiated the trend of superhero films in India, with fantasy making deep inroads into mainstream Hindi cinema. Now RA.ONE raises the bar, takes not a step or two, but a giant leap and adheres to international standards, in terms of execution.

But the soul, I wish to add, is very desi. That’s precisely the reason why RA.ONE emerges trumps. RA.ONE is beauty [read good looking film] with brains [read content].

What characterizes a stunning superhero movie? I have narrowed it down to three precise constituents that I deem are absolutely necessary for an alluring superhero flick. The first is that the motion picture must encompass spectacular action and edgeof-the-seat thrills. Secondly, a magnificent superhero movie must also boast of luminous performances from the protagonists, which in turn should make these characters appear credible and relatable. Thirdly and most importantly, superhero films must have a narrative

that keeps us yearning for more. All of these are indispensable factors in making a superhero movie that will be both acclaimed

and adored by fans. Fortunately, RA.ONE emerges triumphant in all the three departments.

RA.ONE is the most ambitious, most expensive and the most technologically complex Hindi film ever made. It pushes the envelope

further. It’s not merely a film, but an experience, an event. It’s a film that will rewrite the textbook of computer graphics in Hindi cinema. At the same time, it is very Indian at heart. The relationship between SRK and the kid is the highpoint of the enterprise. But, at the same time, there are ample clap-trap moments that will send the viewers in frenzy. The chase sequence, when Ra.One finally zeroes on Lucifer, and the subsequent ‘entry’of the superhero is awe-inspiring.

The train sequence in the second hour is exceptional and a cinematic feat. The presence of Rajnikanth in a crucial sequence will be greeted with deafening claps and whistles. And, of course, the climax of the film; it’s simply jaw-dropping.

Besides these factors, the ‘Chammak Chhallo’ number is already a rage and so are the sequences involving visual effects. In a nutshell, it’s an entertainer that works big time. You haven’t experienced something like this ever before, on the Hindi screen!

A father tries hard to fit into his son’s world. While Shekhar [Shah Rukh Khan] tries every trick in the book to woo his son, his son had given up on him. Just when the father-son duo hit a deadlock, Shekhar strikes gold when he designs one hell of a game. Finally, it all starts falling in place. But the happiness is short-lived.All hell breaks loose

when the game that was meant to be played with, starts playing them.

We are spoilt by cinema’s ability to create on celluloid anything that can be imagined, therefore we have raconteurs making endeavors to bestow us with movies that you wouldn’t have ever envisioned even in your mind’s eye. You realize this as you watch RA.ONE, which is a visual spectacle from start to end.

DirectorAnubhav Sinha along with co-writers David Benullo, Kanika Dhillon and Mushtaq Shiekh may be inspired by international flicks as far as the concept is concerned, but they ensure that they serve the right masala to moviegoers in those 2.30 hours. What actually takes you by complete surprise is not just the money spent on visual effects or the stunning chase and action scenes, but the twists and turns in the screenplay that unravel at a feverish pace.

Besides, the moviegoers have certain expectations and notions about superhero flicks and they expect such characters to perform audacious aerobatics to save someone’s life or a nation. But this one’s different. Visually arresting and dramatically just what the doctor ordered, the film boasts of relatable characters, which makes this superhero movie for kids as well as grown-ups. In fact, I’d like to add, RA.ONE is not only skillfully directed, but also visually dynamic and entertains from commencement to conclusion.

The album of the film lives up to the grand expectations. Vishal-Shekhar deliver a striking score with ‘Chammak Chhallo’, ‘Dildaara’ and ‘Raftarein’ being the pick of the lot. The background score, also recorded by them, is equally electrifying. V. Manikandan and Nicola Pecorini’s cinematography is top notch. Same goes for the stunts and chases [Andy Gill and Spiro Razatos]. Dialogue [Kanika Dhillon and

INDO AMERICAN NEWS • Friday, OCTOBER 28 , 2011• WWW.INDOAMERICAN-NEWS.COM

Continued on page 36

October 28, 2011

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36

SPORTS

October 28, 2011

Spinners Condemn England to 5-0 Whitewash

By Andrew Miller on the front foot, and suddenly the only shining light of the series, KOLKATA (ESPN): England innings was wide open.

Finn. From a comfortable 71 for chose a particularly humiliating Bell, playing in his first match of 0 after 15 overs, India slumped to route to their second 5-0 whitewash the series after Kevin Pietersen had 81 for 3 in the subsequent bowling in consecutive ODI tours of India, been ruled out with a chipped bone Powerplay, with Finn sparking the as they allowed their resolve to in his thumb, scratched around for loss of three wickets for no runs in collapse twice in one match - 2 from six balls before snicking ten balls with a brilliant doublefirst with the ball, as MS Dhoni Ashwin to the keeper, and three wicket maiden. walloped 75 not out from 69 balls balls later, all hope had been truly First to go was Gautam Gambhir to take his series tally to 212 runs lost when Jonathan Trott, England’s for 38, in near-identical fashion to without loss - and then with the bat, likeliest middle-order ballast, his dismissal by Finn at Mumbai, as they squandered a 20-over as a lifting delivery outside off scoreline of 129 for 0 to lose nipped off the inside edge and all ten of their wickets for 47 into the stumps. Then, after runs in exactly 100 balls. welcoming Virat Kohli with India’s stars with the ball, as a series of excellent deliveries in the first match of the series in the channel outside off, he in Hyderabad, were once again bowled him with a final-ball the spinners, Ravindra Jadeja, beauty that zipped off the who claimed 4 for 33 in eight seam and crashed into off overs, and R Ashwin, 3 for stump as the batsman offered 28 in nine. They joined forces no stroke. with the part-timers Manoj Four balls and no runs later, Tiwary and Suresh Raina, to and Tim Bresnan was into choke England’s innings in a the act as well, as Kieswetter sea of slogs and dot-balls. Of atoned for an earlier drop with England’s last nine batsmen, a soaring leap to his right to only Samit Patel (18) and cling on to a flying edge. A Graeme Swann (10 not out) second consecutive maiden reached double figures. The for Finn was then followed rout was sealed with 13 overs by an equally frugal first over to spare when Steven Finn topfrom Bopara, and India’s edged an Ashwin carrom ball collapse should have been to the keeper and triumphant four wickets for one run in 25 captain, Dhoni.

MS Dhoni bludgeoned England into balls when Swann at second For the first two-fifths submission before his spinners sealed the slip dropped an absolute dolly of the innings, England’s whitewash off Suresh Raina. progress could hardly have India needed no further invitation been more serene. Alastair Cook pushed loosely at Jadeja and edged to make England pay. Raina was and Craig Kieswetter saved their a simple chance to slip for 5. eventually run out for 38 from 46 best performances of the series In Jadeja’s next over, England’s balls when his bat bounced in the for the very last gasp. Kieswetter innings went even further off-track, crease as a direct hit came in from brought up his half-century from as the overawed Jonny Bairstow square leg, but it was the crunching 49 balls - and England’s 100 with tried to hit his way out of trouble but hitting of the irrepressible Dhoni it - with a savage carve through instead skidded a thick outside edge that left England’s prospects in the the covers off Varun Aaron, and to Ajinkya Rahane at backward dust. He saved his most savage Cook was scarcely any tardier, point. Ravi Bopara squandered the assault for the new boy, Meaker, reaching his own milestone from chance to be a hero when he was whom he battered for a massive six 51. For the majority of their stand, bowled round his legs for a 16-ball over wide long-on in a penultimate England were consistently 20 runs 4 by Raina, and Tim Bresnan - so over that went for 21. Patel fared ahead of the required rate, without often England’s most combative scarcely any better in the 50th of having needed to take any risks tailender - confirmed the general the innings, in which a further 18 whatsoever. air of surrender when he chipped a runs were scalped.

The innings, however, was loose drive off Tiwary for a fourthBy the end of it all, Dhoni had derailed by the extra pace of Aaron, ball duck. added 330 ODI runs since England who came round the wicket to Long before the final indignity, last dismissed him at The Oval extract Cook’s off stump for 60 England had already blown their in September, and his personal from 61 balls - the exact same score best chance to salvage some pride dominance was a perfect reflection he had managed in the first match in the series thanks to another of a series in which the tables of at Hyderabad. Eight balls later, scruffy fielding performance which the summer had been emphatically Kieswetter followed suit for a run- undermined another superb display turned. a-ball 63, as Jadeja pinned him lbw of fast bowling from England’s For local news 713-789-NEWS

RA. One Movie Review

Continued from page 34

Niranjan Iyengar] are hardly ever commonplace. What I found most interesting is that, whether humorous or thoughtful, the channel of communication appears very credible. The Ra.One and G.One suits, designed

by Robert Kurtzman, are super.

RA.ONE is a perfect vehicle that does justice to the talent of Shah Rukh Khan. He seems to have found a story and character that work in perfect sync and tandem with manic energy. SRK steers this physically challenging lead role with high-spirited self-belief. He’s endearing as the father and magnificent as the superhero with a heart. Kareena Kapoor is a delight to watch. She effortlessly glides into the character. Besides, she looks ethereal in the ‘Chammak Chhallo’ song and her wit is infectious.

Arjun Rampal pulls his act with effortlessness and style. Also, Arjun’s well-designed look is admirable.

I’d like to make a special mention of Armaan Verma, the kid who has a pivotal part to portray. He stands shoulder to shoulder with SRK and Kareena all through the film and delivers a super-confident performance.

The film has a number of actors in key roles [Shahana Goswami, Dalip Tahil, Satish Shah, Suresh Menon, Mushtaq Shiekh and Tom Wu] and each of them fit well in their respective parts. Sanjay Dutt and Priyanka Chopra add to the glam quotient, while Rajnikanth proves yet again that he’s a scene stealer.

But the man who warrants the actual round of applause is director Anubhav Sinha himself. For bringing out the best of SRK, Kareena and Arjun. For the amazing screenplay. For the speedy yet smooth stream of the narrative. And for the fantastic unfolding of the written material. He merits top admiration for every act of his.

On the whole, RA.ONE is a solid entertainer, no two opinions on that.

It’s not merely a great looking film, but also has soul, which is so essential to strike a chord with the avid moviegoer. As for the business prospects, RA.ONE is sure to shatter all previous records and set new ones, in India as well as internationally. The film will be the new yardstick for measuring success. It has Blockbuster written all over it!

- Bollywoodhungama.com

Since 1986 in Houston

RIDDHI DESAI ATTORNEY AND COUNSELOR IN HOUSTON

INDO AMERICAN NEWS • Friday, OCTOBER 28 , 2011• WWW.INDOAMERICAN-NEWS.COM

BUSINESS

October 28, 2011

RBI Hikes Repo Rate; Auto, Home Loans to Get Costlier The Reserve Bank on Tuesday chose to continue with its tight monetary stance and raised interest rates by 25 basis points - 13th time since March, 2010 - to tame inflation, even as it lowered the growth target to 7.6% for the current fiscal.

In a major policy decision, Reserve Bank Governor Duvvuri Subbarao also deregulated savings bank deposit rates with immediate effect. “Changing the policy stance when inflation is still far above the tolerance level entails risks to the credibility of the Reserve Bank’s commitment to low and stable inflation,� the policy document said, even as it admits that growth momentum has slowed down.

It said inflation will start cooling

by December this year and is likely to come down to 7% by March, 2012.

The repurchase rate, or the interest the central bank levies on short-term borrowing by commercial banks, has been raised to 8.5 percent from 8.25 percent. Automatically, the reverse repurchase rate, or interest on short-term lending, gets hiked to 7.5 percent from 7.25 percent.

Commercial banks are widely expected to pass on the interest rate burden to customers, which could made consumer and corporate loans dearer, even while raising the interest outgo on existing loans, along with a longer tenure for repayment.

Tuesday’s hike is the 13th since March, 2010. The series of rate hikes has cumulatively increased interest rates by 525 basis points.

The policy is expected “to continue to anchor medium term inflation expectations�, while stimulating investment activity to support growth.

Borrowers, who are livid at repeated rate hikes, can heave a sigh of relief as the RBI hinted at a reversal of policy stance by saying the likelihood of a hike in December is “relatively low�.

The Reserve Bank of India (RBI) has kept other key rate and ratio - bank rate and cash reserve ratio (CRR)- unchanged at 6% each. It also retained the statutory liquidity ratio (SLR) at 24%.

Factors like weakening global macroeconomic outlook and high domestic inflation will pull down the economic growth rate further, RBI said while lowering the GDP forecast for the current fiscal to 7.6% from its earlier projection of 8%.

The risks to the policy emanate from worsening global macro scenario, commodity prices and increase in government spending which could crowd out private investment, it said.

Earlier in May, RBI had raised the savings deposit rates to 4% from 3.5%.

Giving banks the freedom to fix the savings accounts interest rate, RBI said banks will have to offer uniform rate on deposits of up to

37

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It has also permitted commercial banks to open branches in tier II cities without prior approval of RBI. The Reserve Bank has also proposed to notify banning prepayment penalty on floating rate home loans, as recommended by the Banking Ombudsman recently.

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As banking system prepares to go on to the Basel-III framework requiring higher capital adequacy, the RBI said the draft guidelines for its implementation will be issued by December-end.

As regards the micro finance sector, RBI has given the go-ahead for creating a new category called NBFC-MFIs (NBFC-Micro finance Institutions).

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