Seasonal Magazine - October 2017 Issue by John Antony

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VOLUME 16 ISSUE 10 OCTOBER 2017

YEARS

MAGAZINE

Seasonal www.seasonalmagazine.com

Managing Editor Jason D Pavorattikaran Editor John Antony Director (Finance) Ceena Senior Editorial Coordinator Jacob Deva Senior Correspondent Bina Menon Creative Visualizer Bijohns Varghese Photographer Anish Aloysious Correspondents Bombay: Rashmi Prakash Hyderabad: Iqbal Siddiqui Delhi: Anurag Dixit Director (Technical) John Antony Publisher Jason D Pavorattikaran

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EDITORIAL

Picking Ripe IPOs this Season It is virtually raining IPOs. It is no wonder, as after a long pause of around 6 years, markets started rebounding in 2014-15, and has not looked back since. During the past year, it went through the acid test of demonetization, and recouped from even that blunder. Next came the GST implementation shock, and the secondary market brushed that too away. And wonder of wonders, neither the lacklustre performance of the economy nor the phenomenon of jobless growth have deterred big-time money from flowing into India’s capital markets. With Sensex and Nifty making continual higher highs, it is only natural that unlisted majors flock to the market hoping for dream valuations. The first and foremost factor that retail investors should look for in IPOs is the reliability of the promoter. While it is true that the greatest wealth creators in the Indian stock market have traditionally been private sector players, a sobering fact is that almost all of the nastiest wealth destructors too have been from the private sector. This is where the value of the current crop of public sector or joint sector IPOs unmistakably shine through. Companies like New India Assurance Company, and GIC Re are giant companies owned fully by Government of India, which is arguably the largest, mightiest and most reliable promoter in the country. There is an additional value too in public sector IPOs. Most of these companies’ ownership will be retained by the Government, often to the tune of around 75% ownership or even higher in some cases. As such, government in an effort to meet its fiscal needs, would demand these companies to provide it with the best possible annual dividends. This readily translates to a good dividend pay-out also for all its investors including retail. The only flip-side some investors would point out is that revenue and profit growth rate of government companies might be lower than private sector peers. While this is true, the fact of greater importance is that investors need only reasonable growth for share price to compound. A government company that is

growing at a reasonable clip of 15-20% is more than enough to compound wealth for retail investors in the long term.

United India Insurance, and Oriental Insurance, control the bulk of the general insurance market in the country.

Also, this reasonable growth would also be sustainable over the longer term. Some private companies on the other hand would grow in bursts – years of high growth – which will make not only their valuations high, but volatile, thus burning the pockets of its retail investors.

If you are also looking for a more monopoly kind of business in insurance, there is GIC Re, which is the country’s sole reinsurance business, except for the foreign offices of a few international majors.

Then comes the issue of the opportunity size. Starting in the 1990s, the greatest wealth creation opportunity in the Indian market has been with technology stocks, which was a new paradigm in investing. But ever since then, no such new sectors to invest have opened up virtually from the blue. However, the current year is witness to the first ever round of listing of an old paradigm – insurance. While it started with India’s first ever life insurance listing an year back, it has gathered pace in recent months with listing of a couple of general insurance companies. Here too, the biggest opportunities are yet to unravel as the four largest general insurance companies belonging to the public sector are yet to go for IPOs, but would be doing so in the current fiscal or next. Between them, National Insurance, New India Assurance,

However, all said and done, retail investors should take care that they don’t invest in one go. The greatest problem with IPOs too is this risk, that investors mulling IPOs would bet huge investments into one stock hoping that it would soar from day one onward. Rather, the prudent strategy would be to invest only 10-20% of what you plan to invest in a specific IPO, during the IPO time. Then, after the listing euphoria is over, whether you were allotted or not, start doing a monthly Systematic Investment Plan (SIP) in that specific IPO stock , to fill up the rest 80-90% of your intended investment in that stock. If the going looks good, don’t stop the SIP, but build up your investment, and soon you will be sitting on a nice pile of hardworking shares that would not only have multiplied several times, but delivering you astonishing dividends after 10 or 20 years. John Antony

CONTENTS

GIC Re IPO

9 Reasons Why GIC Re IPO is a Rare Opportunity UP FOR GRABS IS A $100 BILLION OPPORTUNITY IN WEALTH CREATION FROM THE NEW MARKET CAPITALIZATION OF SEVERAL INSURANCE IPOS THIS YEAR. HOWEVER, NOT ALL OF THEM PROVIDE INVESTORS WITH THE SAME LEVEL OF SAFETY AND GROWTH PROSPECTS. GIC RE MIGHT BE THE BLACK HORSE AMONG THE PACK DUE TO ITS MONOPOLY STATUS IN THE RE-INSURANCE BUSINESS OF THE COUNTRY.

KARNATAKA AGRICULTURE MINISTRY

HELPING FARMERS WITH KHARIF SOWING

State agriculture ministry headed by Minister Krishna Byre Gowda has worked tirelessly and in tandem with various other key ministries like Science & Technology and Revenue, to make ...

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KARNATAKA PROPOSES A LAND PARCEL SWITCH WITH DEFENCE MINISTRY Chief Minister Siddaramaiah recently met Defence Minister Nirmala Sitharaman and congratulated the Rajya Sabha member elected from Karnataka on taking charge of the Defence Ministry recently.

KARNATAKA EDUCATION MINISTRY MULLS

E-BOOK READERS TO REPLACE SCHOOL TEXT BOOKS Minister for Primary and Secondary Education Tanveer Sait, who is spearheading the revolutionary initiative has been inspired after a few colleges in the state have turned to using e-book readers instead of text books.

KARNATAKA INFRASTRUCTURE MINISTRY TO PIONEER

AIRPORT-TO-CITY HELICOPTER RIDES

The state’s Infrastructure Development Ministry headed by Minister RV Deshpande is all set to facilitate the country’s first Airport-to-City helicopter taxi service, which would offer competitive rates for a premium service tailored for time-pressed executives and emergency patients.

How IIM Bangalore Incubates Social Ventures

Sarjapura Road to Widen, With a 3-metre Median

Anchor-mentors will guide the start-ups through their 18-month incubation journey at the NS Raghavan Centre for Entrepreneurial Learning.

Bruhat Bengaluru Mahanagara Palike (BBMP) has taken a decision to construct a three-metre wide median to ease the construction of Metro along the road in the future. Along with the wider median, the road will also have dedicated bicycle tracks on both the sides. The Palike also plans to plant trees on both sides of the stretch.

WOMEN-RUN INDIRA MOBILE CANTEENS TO START IN KARNATAKA Women-run mobile canteens, ‘Indira Saviruchi Kaituthu’, will hit the roads in all of Karnataka’s district headquarters on November

KARNATAKA FOREST MINISTRY ACHIEVES LEADERSHIP IN

ELEPHANT CONSERVATION

Silencing a lot of harsh critics, it has been proven that Karnataka has the most number of jumbos in the country, outpacing traditional leader Assam by a huge margin. It is a major win for the Forest Ministry headed by Minister Ramanath Rai.

NAMMA METRO CUTS POLLUTION IN BENGALURU According to Karnataka State Pollution Control Board, Namma Metro has contributed significantly to reduce air pollution in the city.

KARNATAKA MOVES SWIFTLY TO BUY 1000 MW POWER Recently, state’s energy minister DK Shivakumar said the state expects power demand to rise from around 8,500 MW to 9,500 MW — 10,500 MW in the upcoming festive season.

KARNATAKA FOOD & CIVIL SUPPLIES MINISTRY ACHIEVE

BREAKTHROUGH FOR POOR WITH INDIRA CANTEENS Under Chief Minister Siddaramaiah’s visionary leadership, the Food & Civil

HOW KARNATAKA SHOWS THE WAY ACROSS SECTORS When Chief Minister Siddaramaiah’s rule enters its fifth year, Karnataka is showing other states of India on how to maintain leadership in sectors like IT, BT, e-Commerce, startups, and professional higher education even while making major breakthroughs in sunrise sectors for the country like aviation industries, entrepreneurship development, and skills development. SEASONAL MAGAZINE

GIC Re IPO

Y’18 is all set to go down in Indian corporate history as the year of insurance IPOs, with more than 7 large insurance firms, belonging to both public and private sectors, going for their listings in the stock market. These include life insurers, general insurers, and may be even niche players like the specialized health insurers. Owing to India’s burgeoning working age population, all these companies are expected to do reasonably well, but it is a fact that almost none among them have a highly differentiated value proposition, due to SEASONAL MAGAZINE

the commoditisation of both life and non-life business in this country. Except perhaps GIC Re, which is India’s sole reinsurer. Insurance companies also need to insure themselves against their potential liabilities, especially their large policies, and re-insurance companies precisely provide that. It is no secret that capital markets are not too fond of generic businesses. Add to it, LIC’s stranglehold in the life business, and the four public sector general insurers’ head-start in that sector, and what we have is a highly fragmented market for the newer private sector players

who are, however, hogging the current limelight this IPO season due to their better marketing acumen. But in the long run – and markets always strategize for the long run – there is no doubt that better prospects await the only monopoly in India’s huge insurance market – GIC Re. While studies show that India is already the largest insurance market in the world by number of policies, analysts are pegging new market capitalization from all these new listed players to grow to a $100 billion wealth creation opportunity within a few years. In this fray, it is highly likely that GIC Re’s IPO

Alice G Vaidyan, CMD

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would be the most promising bet in the long run due to its monopoly status, as well as the systematic way in which it has been proving to be of value to all other insurers in the country. It’s various services insure insurance companies against major liabilities in sectors like aviation, shipping, heavy industries etc, apart from bulk retail businesses like life, health, crop etc. Under Chairman & Managing Director, Alice G Vaidyan’s visionary leadership, GIC Re has also spread its re-insurance business across SAARC countries, Middle East, Far East, Russia, & Africa with offices in London, Dubai, Malaysia, Moscow, and a subsidiary based in Johannesburg, South Africa. Among the key risks faced by the company include massive natural calamities like earthquakes, tsunamis, hurricanes, floods etc as well as manmade catastrophes like wars and invasions, which can shoot up the liabilities of a reinsurer. Government and IRDA allowing more players in the segment would also pose as a risk for the current monopolistic business of GIC Re. Seasonal Magazine investigates in-depth about the prospects of GIC Re’s upcoming IPO.

Seasonal Magazines unearths nine reasons why GIC Re’s upcoming IPO would be one of the most promising public offerings to hit Indian markets in recent years.

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Reinsurance Opportunity Worldwide Insurance companies the world over, especially non-life or general insurance companies have been exploring ways and means to mitigate their huge risks when huge natural calamities or large scale wars surge their liabilities. Over the past few decades, the method of choice that has emerged for this requirement has been reinsurance, in which insurance companies themselves go for insurance against their liabilities. Reinsurance is provided by both specialised reinsurance companies and by large diversified insurance companies. Due to its absolute need, the multi-billion dollar reinsurance business has been growing rapidly.

Profile of Reinsurance Leaders The potential of any industry is evident from the players it attracts. Reinsurance sector has attracted what is perhaps one of the world’s largest and most successful public companies – Berkshire Hathaway, promoted by one of the world’s richest investors, Warren Buffett. Warren Buffett

While Berkshire Hathaway invests in hundreds of sectors and companies, its mainstay business has been insurance, and reinsurance has been Berkshire’s most profitable business ever. In fact, the huge premiums Berkshire reinsurance units attract upfront have been driving Buffett’s stock investments, the huge returns from which is enough to mitigate reinsurance liabilities.

Reinsurance Business is Nascent in India As in any other emerging segment, developed countries like USA and EU rule the roost when it comes to reinsurance. Indian industry has

awakened to the need for reinsurance only during the last ten years or less, and this makes the growth potential for this industry in this country, absolutely huge. Added to this is the sheer size of the insurance business in India, which is already pegged as the largest in the world by way of number of policies, if not value. Reinsurance has also been growing the fastest in India, among all Asian nations, even outpacing large markets like China.

Industry Reliance on Reinsurance More and more industries are awakening to the need for insurance, while, in turn almost all insurance companies are realizing that participating in this growth without taking adequate reinsurance is impossible. Insurance and reinsurance are vital for property and against casualty, and therefore vital for almost all heavy and medium industries. Huge service industries like airlines and shipping rely heavily on insurance companies, and these insurance companies in turn rely hugely on reinsurance firms, as any casualty from these businesses can surge liabilities, and make insurance companies without reinsurance go bankrupt.

GIC Re is Indiaâ&#x20AC;&#x2122;s Sole Public Reinsurer The reinsurance business in India has so far been dominated by its sole public reinsurer, GIC Re, and a handful of Indian offices of large international reinsurance firms. The

Indian opportunity in reinsurance is so huge that Berkshire Hathaway which exited Indian insurance market two years back is mulling a re-entry as a reinsurer and has already applied for a license for the same. Reinsurance is largely against general insurance, and with Indiaâ&#x20AC;&#x2122;s general insurance scene dominated by four large public sector insurers, GIC Reâ&#x20AC;&#x2122;s prospects as the sole public sector reinsurer makes it a

virtual monopoly, which makes it attractive in stock markets.

Beneficiary of Major Government Initiatives GIC Re posted an 82.2 percent growth in its gross premium to Rs 33,585 crore in FY17 compared to FY16, which is the best performance among all Asian reinsurers in this past fiscal. The company recorded a profit-after-tax of Rs 3,127 crore in FY2016-17, an increase of 10 per SEASONAL MAGAZINE

cent over the previous year. This splendid performance has been aided by Pradhan Mantri Fasal Bima Yojana - the crop insurance scheme launched by the government. All such mass benefit schemes being planned by the government is likely to have an insurance component, and as such, a reinsurance component too, which will benefit GIC Re.

GIC Re has International Business Today, GIC Re has reinsurance business across SAARC countries, Middle East, Far East, Russia, & Africa with offices in London, Dubai, Malaysia and Moscow. Even more

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importantly, GIC Re has been targeting the huge African continent where the reinsurance business is still nascent like in India. Towards this it has started a subsidiary based in Johannesburg, South Africa, which has also taken over a local player. For reinsurance companies, overseas expansion is a bigger opportunity as they can also address insurance business there without license through local insurance companies acting as proxies.

GIC Re is Moving Up in Global Rating Reinsurance is rated by international rating agencies like Standard & Poorâ&#x20AC;&#x2122;s and AM Best. Both the rating agencies in their latest global ranking list of 25 top international reinsurers, released last week, have upgraded GIC Re by two notches to the 12th position from 14th. The only Asian reinsurance companies that are above GIC Re in ratings are from developed nations like Japan and

Korea, except for a Chinese major. But when it comes to growth, GIC Re has outpaced all these Asian companies that are both above and below it in the 25 top international reinsurers.

Risk Mitigation Strategies The greatest risk for reinsurance companies come from natural disasters and wars that surge their liabilities. However, like the best reinsurance companies worldwide, GIC Re has been extremely cautious on this front, offering to take up only part reinsurance risk with each insurer, sharing the rest of the risk with other reinsurers. Secondly, GIC Re is also a capital markets investor, the returns from which compensates for the potential liabilities. It also understands the general insurance business intimately as the granddaddy of that business in India. Lastly, each major disaster also attracts more reinsurance business and higher premiums.

NEWS IN FOCUS

NEW ANDROGYNOUS FALL STYLES FROM CHRISTIAN LOUBOUTIN

FENDI LAUNCHES THE MULTICOLOUR FUR POMPONS CAPSULE COLLECTION Fendi has launched the new Multicolour Fur Pompons Capsule Collection which is playful and creative, as expected from the brand. It adds colorful soft-at-touch mink pompons to a selection of total-black products. From flats to high heels, ankle boots to boots, bags to mini-bags and backpacks, Fendi adds glee and humor to every occasion with the colorful pompons. In addition to shoes and bags, textiles are invaded with the pompons as well with a wool hat, silk or wool scarves and leather gloves.

BOVET LAUNCHES THE NEW VIRTUOSO VIII 10-DAY FLYING TOURBILLON BIG DATE Reliability, chronometry and decorative arts are the keywords that are used to describe the Bovet Virtuoso III. In celebration of its 195th anniversary, Bovet is releasing 78 of the Virtuoso

VIII, 39 in white gold upon request and 39 in red gold. The energy of the caliber, which is set by a variable inertia balance wheel, is released by a single barrel that provides over ten days of autonomy. There are six collets driven into the felly of the balance wheel that allow great precision. This double faced timepiece is equipped with a balance-spring that was specifically calibrated for this watch and is fixed in the center with its axis together giving it even distribution on each side. In addition to being full of top-notch technology, the watch is an artwork. Both sides of the plates have bridges that honor Bovet’s pocket watches with polished and chamfered steel. The two plates are chiseled with a delicate and intricate pattern that take skill from the manufacture’s engravers. The full skin alligator wristband pairs perfectly with the intricately carved face of the watch and the ivory, black lacquer, or blue aventurine dials and hands of the watch.

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Christian Louboutin is adding a casual Parisian style to the Autumn/Winter 2017 collection. The new shoes cross gender lines by offering oxfords, loafers and booties in a variety of styles suited to fit the modern woman. The new Monana, or Monono for men, loafers are available in a combination of black, red and white in addition to an all-black version made with ultra-fine, handstitched chain details and a “loubiCoin” in the shoe. Laperouza reappears in this collection with a gold bullion embroidered Christian Louboutin crest. On the Mi Corazon slipper and Perou Corazon, each has a three-dimensional heart inspired by Mexican ex voto, which is hand-embroidered in rouge and golden cannetile embroidery. Lug soles return to the women’s collection, offered across a range of dynamic oxfords and chalet-ready booties. The rubber soles, produced alongside the men’s versions, are newly adapted for lightness and increased flexibility, with a shape crafted for a woman’s foot. Oxfords styles Hubertus Donna and Charletta don artisanal details including broguing and light ornamentation, while Crapadonna takes on an intricate floral motif inspired by Moorish murals, in laser cut patent calf contrasted to a crosta suede base. For cooler temperatures, the The Chasse a Clou, Fanny and Mad Boot have shearling linings, fur trim and spike embellishments. Shop new arrivals from Autumn/Winter 2017 styles at Christian Louboutin boutiques around the world, and online at ChristianLouboutin.com beginning mid-July.

15 US STATES SUE TRUMP GOVT OVER SCRAPPING 'DREAMERS' PLAN As many as 15 US states and Washington DC have filed a lawsuit against the President Donald Trumpled government over the decision to scrap the 'Dreamers' program. The lawsuit claimed that the decision was "fundamentally unfair". The Obamaera plan was aimed at protection of nearly 8 lakh immigrants who had been brought to the US illegally as kids.

BENGALURU PETROL PUMP TO SERVE FREE FOOD TO CUSTOMERS Bengaluru's Venkateshwara Service Station, in association with Indian Oil Corporation, has launched free food service to customers who stop there to refuel. The initiative aims to help people who skip meals to reach work on time and will include both vegetarian and non-vegetarian food. The station used the tagline 'U fill Ur Tank! V Fill Ur Tummy!' for the concept.

PAKISTAN NEEDS TO RESTRICT TERROR ACTIVITIES: PAK MINISTER

US RAPPER CROWDFUNDING SATELLITES TO FIND IF 'EARTH IS FLAT'

Pakistan needs to restrict the activities of terror groups such as Lashkar-eTaiba and Jaish-e-Mohammed so that the country can tell the world that "we have set our house in order", Pakistan's Foreign Minister Khawaja Asif has said. This comes after the five BRICS nations issued a declaration slamming Pakistan-based terror groups including LeT and JeM for the first time.

American rapper B.o.B has started a crowdfunding campaign "Show BoB The Curve" which aims to raise $1 million to "launch satellites into space" to find if the Earth is flat. With an initial $1,000 from B.o.B, the campaign has raised over $2,500 so far. Last year, B.o.B got into a Twitter fight with astrophysicist Neil deGrasse Tyson over the matter.

SUPREME COURT RESERVES VERDICT ON CRIMINALISING MARITAL RAPE The Supreme Court on Wednesday reserved its verdict on criminalising marital rape while hearing a plea filed by an NGO seeking to make it a criminal offence. The NGO's plea sought clarification whether a man's physical relationship with his wife below 18 years of age amounts to rape or not.

MANKIND PHARMA'S EKLAVYA JUNEJA YOUNGEST ON HURUN RICH LIST Eklavya Juneja of Mankind Pharma is the youngest person on Hurun India Rich List at 24 years of age. He owns 12% of Mankind Pharma which was founded by his father Rajeev Juneja. The oldest person on the list is 94-yearold Keshub Mahindra of Mahindra & Mahindra. Notably, the average age of the Hurun India Rich List is 60 years.

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NEWS IN FOCUS HERITAGE OFFERS JEWELRY FROM ACTRESS LUPITA TOVAR Heritage Auctions Lupita Tovar jewelrySeptember 5, 2017: Known as “The Sweetheart of Mexico” after her first Spanish-language film, La Voluntad del Muerto, Mexican actress Lupita Tovar’s jewelry collection featuring Van Cleef & Arpels and Tiffany & Co will be on auction as a part of Heritage Auctions’ Jewelry Signature Auction in Beverly Hills on September 25, 2017. The highlights of the collection are a ruby, diamond, platinum, gold Brooch, and a diamond, platinum ring which features a sparkling marquise-shaped diamond. Together those two pieces range between $10,000 and $15,000. The glamourous Ms Lupita’s retro collection includes a 3.55-carat European-cut retro diamond synthetic ruby platinum rose gold ring est. $15,000-18,000, a 10.00-carat squarecut sapphire, platinum bracelet est. $10,000-12,000 and a European-cut diamond, platinum ring est. $10,000-15,000.

SAUDI ARABIA ARRESTS 10 CLERICS IN CRACKDOWN ON DISSENT Saudi Crown Prince Mohammed bin Salman's crackdown on dissent has led to the detention of up to 10 prominent clerics, the biggest mass arrest of its kind in the kingdom's recent history. The government said it had arrested people who were aligned to "foreign powers". Notably, Salman, who is first in line to the throne, has worked to consolidate power.

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SNAPDEAL SPENDING $500MN TO BE LIKE US: SHOPCLUES COFOUNDER ShopClues Co-founder Radhika Aggarwal in an interview said Snapdeal spent over $2 billion trying to be Flipkart and is now spending half a billion dollars ($500 million) trying to be like ShopClues. Aggarwal added, "If it was so easy to become ShopClues everyone else would have done it as well." This comes after Snapdeal discontinued merger talks with Flipkart.

100 INMATES ESCAPE PRISON DURING HURRICANE IRMA Over 100 high-risk prisoners escaped from a prison in Tortola in the British Virgin Islands during the chaos caused by Hurricane Irma. Residents reported looting and claimed escaped prisoners had committed a rape while on the loose. They were captured following an operation by British Virgin Island and Cayman Island police officers, alongside British Royal Marines and police.

KNIFE-WIELDING MAN ATTACKS SOLDIER IN PARIS

GOVT APPROVES ?300-CRORE PLAN FOR WASTE MANAGEMENT IN DELHI The Centre has approved a ?300-crore plan for improving solid waste management in Delhi, Housing and Urban Affairs Minister Hardeep Singh Puri said on Friday. The funds would be utilised to procure equipment and automated machinery for "better collection, transport, storage and decentralised treatment of garbage". The equipment are to be procured by the end of this year, Puri added.

A knife-wielding man attacked a soldier patrolling the central Châtelet metro station in Paris on Friday. The attacker, who made statements referring to "Allah" and "ISIS" during the assault, was immediately seized by the soldier. Notably, soldiers and police officers have frequently been the target of attackers in France in recent years.

MAN CYCLES AROUND THE WORLD IN 79 DAYS, BREAKS WORLD RECORD

GOA WILL BAN DRINKING IN PUBLIC PLACES: CM MANOHAR PARRIKAR

Mark Beaumont, a cyclist from Scotland, has set a new world record by successfully circumnavigating the globe in 79 days on his bicycle. He smashed the previous record of 123 days after traveling almost 29,000 km and crossing 16 countries as a part of his journey. Beaumont cycled for 16 hours a day, covering almost 386 km each day.

101-YEAR-OLD AUSTRALIAN BECOMES WORLD'S OLDEST FEMALE SKYDIVER At 101 years and 110 days old, Adelaide's Irene O'Shea became the world's oldest female skydiver after plunging from a height of 14,000 feet in South Australia on Sunday. Irene, who was raising money for Motor Neurone Disease (MND) through her feat, also performed a 12,000-foot tandem jump last year to mark her 100th birthday.

short by Aarushi Maheshwari / 10:13 am on 18 Sep 2017,Monday Goa Chief Minister Manohar Parrikar on?Sunday said the state will ban drinking liquor in public places by the end of October, to curb the nuisance created by drunk people. The state has already banned drinking in selected public places like beaches. It is also planning to ban swimming in the sea post-sunset and after the consumption of alcohol.

30% CONSUMERS DO NOT PAY RESTAURANT SERVICE CHARGE: SURVEY A recent survey has revealed that around 30% people do not pay service charge levied by restaurants after the government termed the charge voluntary, asking people only to pay it if satisfied by the service. It further revealed that the 30% included 21% respondents who weren't asked for the charge, and 9% who got it removed from the bill.

SCIENTISTS DEVELOP FLEXIBLE, WATERPROOF SOLAR CELLS Japanese researchers have developed an ultra-thin photovoltaic device, which can continue to provide electricity even after being soaked in water or being stretched and compressed. The prototype had an energy efficiency of 7.9%, which decreased to 7.5% on dipping in water for two hours. Further, the device worked at 80% of its original efficiency even when compressed to nearly half.

INDIA GOT ITS 1ST WOMAN OLYMPIC MEDALIST 100 YRS AFTER DEBUT Weightlifter Karnam Malleswari became India's first female Olympic medalist, 100 years after the nation's debut at the Olympics, winning the bronze medal at the Sydney Olympic Games on September 19, 2000. The two-time world champion lifted a total of 240 kg to claim the medal. Malleswari is also India's only female weightlifter to win an Olympic medal.

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NEWS IN FOCUS

ARIJIT SINGH SINGS 'MEET' FOR KANGANA RANAUT'S 'SIMRAN' Arijit Singh has sung the new song 'Meet' for the upcoming film 'Simran', which stars Kangana Ranaut. The song has been composed by music composer duo Sachin-Jigar with lyrics by Priya Saraiya. Directed by Hansal Mehta and written by Apurva Asrani, the film is scheduled to release on September 15.

WRONG TO BLAME ONLY PAHLAJ FOR HOW CBFC WORKED, SAYS KALKI Actress Kalki Koechlin has said that it is wrong to blame only ousted Central Board of Film Certification (CBFC) Chairman Pahlaj Nihalani for how the board functioned during his tenure. "I think it's a combination of people that make up the board... they were equally responsible for whatever happened when (Nihalani) was the chairperson," added Kalki.

MAKING OF RAJINIKANTH, AKSHAY'S '2.0' RELEASED The making of the Rajinikanth and Akshay Kumar starrer '2.0' has been released. The video features how the action sequences for the film were shot while some other behind-the-scenes footage offers a glimpse into how Rajinikanth and Akshay's look for the film was done. The film, which stars Amy Jackson as the female lead, will release in January, 2018.

AIRPORT SLAMMED FOR TURNING DISABLED PARKING TO 'LEXUS-ONLY' Calgary airport in Canada has been slammed for replacing disabled parking spaces and marking them as spaces for Lexus-branded vehicles. Lexus Canada told the media it was unaware that the airport's marketing campaign would involve the removal of parking spaces for travellers with disabilities. The airport authority also apologised to Lexus Canada, claiming it was "solely responsible" for it.

SECTION 144 IMPOSED IN 9 DISTRICTS OF DELHI TILL SEPT 8 Prohibitory orders under Section 144 have been imposed in nine districts across Delhi till September 8. This comes after incidents of violence were reported across the city after Dera Sacha Sauda chief Ram Rahim Singh was convicted by a CBI court in a rape case. Under Section 144, assembly of four or more persons is prohibited.

SINDHU ENTERS WORLD C'SHIPS SEMIS, ASSURES INDIA OF MEDAL Indian shuttler PV Sindhu defeated world number six Chinese Sun Yu on Friday to enter the World Championships semifinals and assure India of a medal. The two-time World Championships bronze medallist defeated Sun Yu with a scoreline of 21-14, 21-9 in 39 minutes. Sindhu will next take on world number 10 Chen Yufei in the semis.

SAINA ENTERS WORLD C'SHIPS SEMIS TO ASSURE INDIA OF 2 MEDALS Shuttler Saina Nehwal defeated Scotland's Kirsty Gilmour 21-19, 18-21, 21-15 on Friday to reach the Badminton World Championships semifinals for the second straight time, assuring India of two medals. Earlier, PV Sindhu had defeated China's Sun Yu to enter the semis. This will be the first time that India will have two singles' medalists at the Badminton World Championships. SEASONAL MAGAZINE

TAJ MAHAL A TOMB, NOT TEMPLE: ARCHAEOLOGICAL SURVEY OF INDIA

ISRAEL PROMOTES 'ANTI-TERRORISM' TOURISM IN INDIA

Archaeological Survey of India told the Agra Civil Court that there were no proofs of any temple having existed at the place of Taj Mahal. This comes after a petition was filed in the court claiming Taj Mahal was actually Tejomahalaya, a Shiva temple built by Raja Jai Singh, which was appropriated by Shah Jahan to bury his wife Mumtaz.

The Israeli Ministry of Tourism is hoping to promote "anti-terrorism" or "defence" tourism in India with the help of Indian travel agents, a senior Tourism Ministry official said on Thursday. He said tourists "want to know how to shoot, how to hide, how to tackle. It's similar to paintball... We are interested in promoting anything that brings in more tourists."

MITSUI SUMITOMO TO BUY SINGAPORE INSURER FOR RS 10,240 CRORE

WORLD'S 100 RICHEST TECH BILLIONAIRES NOW WORTH OVER $1 TN

Japan's Mitsui Sumitomo Insurance Company (MSI), the core firm of MS&AD Insurance Group Holdings, has agreed to buy Singapore's largest nonlife insurer First Capital Insurance from Canada's Fairfax Financial Holdings for $1.6 billion (?10,240 crore). MSI said it is paying 3.3 times the book value while Fairfax said this will result in realised net investment gain of approximately $900 million.

World's 100 richest self-made tech billionaires on Forbes' Richest In Tech list are worth over $1 trillion for the first time. Their combined net worth of $1.08 trillion is up 21% from last year. Half of the $189 billion increase came from 10 richest tech billionaires. Notably, Microsoft founder Bill Gates maintained his spot as the richest person in tech.

TOURIST GUIDE FINED RS 1 LAKH FOR SCARING OFF POLAR BEAR A tourist guide in Norway has been fined â&#x20AC;˘1,300 (nearly ?1 lakh) for scaring off a polar bear. The tourist guide had approached the polar bear during a snowmobile expedition in Svalbard, following which the animal fled. The governor's office said, "it is forbidden to approach polar bears in such a way that they are disturbed, regardless of the distance."

DRONE STARTUP DJI CEO NAMED ASIA'S YOUNGEST TECH BILLIONAIRE Drone-making startup DJI's Founder and CEO Frank Wang Tao has been listed as Asia's youngest technology billionaire in Forbes' 2017 'Richest People in Tech' list. Wang, aged 36, is also world's first drone billionaire with an estimated net worth of $3.2 billion. The Chinese native founded DJI 11 years ago while studying at Hong Kong University of Science and Technology.

SANJAY DUTT SINGS 'GANESH AARTI' FOR COMEBACK FILM 'BHOOMI' On the occasion of Ganesh Chaturthi, Sanjay Dutt released the 'Ganesh Aarti', which he has sung for his comeback film 'Bhoomi'. The music and programming of the track has been credited to Aditya Dev while the original lyrics have been retained. Directed by Omung Kumar, the film also stars Aditi Rao Hydari and is scheduled to release on September 22. SEASONAL MAGAZINE

HEALTH KATE HUDSON JOINS MICHAEL KORS TO WATCH HUNGER STOP

DROPS OF GOOD EARTH’S HOME & APPAREL IN SHADES OF MONSOON In honor of the Indian monsoon season, Good Earth has launched four different home & apparel collections. The Narmada collection draws inspiration from the trees and palms that line River Narmada. It features hand block printed bed linen featuring some of India’s old forests. The Monukuru collection, inspired by the monochrome aesthetic, is crafted in handloom cotton and chanderi that details intricate ikat designs and crochet trimmings. The Makhar collection is inspired by the Dabu technique, a form of mud-resist hand block printing that involves stamping ‘dhabu’, a resist black clay, whey powder gum and lime water using woodblocks. Lastly, the Sakura collection focuses on dinnerware that is crafted with artisanal hand-thrown stoneware and pays homage to chrysan-

ALILA HOTELS VENTANA BIG SUR SET TO REOPEN IN FALL 2017 International lifestyle company Two Roads Hospitality has announced the expansion of Alila Hotels & Resorts into North America. Singapore-based Alila, will open its first North American resort property in California’s Big Sur in fall 2017. Boasting a multimillion-dollar comprehensive revitalization, Ventana Big Sur feature 59 refreshed guest rooms, suites and villas, a full-service Spa Alila, two enhanced outdoor pools with a new infinity-edge hot tub and

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themums and spring blooms, chevrons and textual patterns in pale blues and white. The collections are available online at the Good Earth web boutique www.goodearth.in and across all Good Earth stores.

Michael Kors has announced that Kate Hudson, an actress, author, entrepreneur and humanitarian will be helping by representing for the third year in brand’s annual campaign to fight global hunger. The Watch Hunger Stop campaign was established in 2013 and raises money and awareness to relieve the world of hunger. The brand's partner in the effort is the United Nations World Food Program (WFP), and funds go to support WFP's school meals program. The sale of special products is one way Watch Hunger Stop raises funds for WFP. This year, those products will include a special edition of the not-yet-released Michael Kors Access Sofie smartwatch and a unique version of the brand’s Lon aviator sunglasses.

outdoor Japanese hot baths. Additionally, The Sur House restaurant, with a new concept and expanded ocean-view patio, will offer views of the Pacific Ocean. Ventana’s resort-wide enhancements also will include a new Social House with three unique lifestyle spaces for relaxing and connecting; the new 7,000-squarefoot Ocean Meadow Lawn for events and celebrations; a new Glass House Gallery; a new Alila Experience Program featuring discovery-based guest activities such as beekeeping, string art, candle making and aromatherapy; and the debut of a luxury camping experience — Redwood Canyon Glampsites— in the resort’s 20-acre redwood-canopied forest. Alila Hospitalities include daily guided walks through the serene landscape, yoga, Tai Chi and Pilates classes, and nightly wine tastings and cheese pairings. An on-site experience coordinator is available to arrange further adventures.

BALLY JOINT VENTURE LAUNCHES ITS FIRST STORE IN INDIA Bally is launching a joint venture partnership with Reliance Brands in India for their first flagship store. The store is located within New Delhi’s renowned luxury shopping destination, DLF Emporio mall. The Bally store has launched with the brand’s Autumn Winter 17 collection including women’s and men’s shoes, accessories and leather goods. This seasons collection encompasses the mood of a gentlemen’s club in 1970’s New York City. The collection features a contrast of evening dresses and urban sportswear. The New Delhi store incorporates the design by David Chipperfield Architects, boasting luxurious walnut panel walls and tile flooring laid with wool and silk-blend carpets in pink and green, separating the women’s and men’s collections.

MANDARIN ORIENTAL, MILAN LAUNCHES A VINTAGE FERRARI SELF-DRIVE AND RIVA SPEEDBOAT EXPERIENCE Mandarin Oriental, Milan is offering a luxury self-drive Lake Como package. In addition to a suite accommodation at Mandarin Oriental, Milan, guests will have an opportunity to drive to Lake Como in a vintage Ferrari and experience a 3hour tour aboard a classic Riva speedboat while Champagne and canapés are served guests are shown their chosen places of interest round the lake. The day trip can be tailored to guests’ wishes. Guests booking the Lake Como Luxury Vintage Experience package can drive a Ferrari Dino 246 GT Gallettoni through of Italy’s countryside. A personal road assistant driver will accompany guests from Milan in a separate vehicle and be on call provide valet parking, car wash, refuelling service and technical support. The lake destination, choice of car, and duration of the drive and boat tour in the Lake Como Luxury Vintage Experience package are decided by

the guest. The Lake Como Luxury Vintage Experience and the basic package includes: the Milan suite accommodation for at least two nights, transportation to the hotel, daily breakfast for two in-room or at Mandarin Bar & Bistrot, a personalized road trip itinerary to Lake Como and a 10% discount on treatments at The Spa at Mandarin Oriental, Milan. The experience will be available until September 30th , 2017 and will be priced from EUR 5,100 per room per night with a sevenday advance booking requirement.

IWC SCHAFFHAUSEN LAUNCHES THE FIRST EVER CERATANIUM WATCH CASE To mark the 50th anniversary of Aquatimer diver’s watches, watch manufacturer IWC Schaffhausen has released a special edition with the first Ceratanium case. This material is as light and unbreakable as titanium, but also as hard and scratch-resistant as ceramic. “Since we already had a pioneering role in the use of titanium and ceramic in the 1980s, we are now once again highlighting our expertise with materials by employing Ceratanium,” explains Christoph

SILVER MICHAEL KORS X FUJIFILM INSTAX MINI 70 CAMERA LAUNCHED Fashion brand Michael Kors has continued its collaboration with Fujifilm with the release of a second Instax Mini 70 camera in a silver metallic hue. Similar to the original collaboration camera, the silver Michael Kors x Instax Mini 70 features the brand logo on the front of the case body and the designer’s signature in the silver hue on the camera door. The camera can also double as a must-have accessory with the addition of a gold or silver-tone chain-link strap.

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US BREWERY HALTS PRODUCTION TO SEND WATER TO HARVEY VICTIMS The Anheuser-Busch's brewery in Cartersville, US, has begun delivering drinking water to the American Red Cross to help Hurricane Harvey relief efforts in Texas and Louisiana. "We periodically pause beer production...to help the country in times of crisis," officials said. The company said it has provided more than 7 crore cans of drinking water for disaster relief since 1988.

SC TO HEAR PLEA AGAINST GENDER-BIASED COLLEGE HOSTEL RULES

The Supreme Court on Monday agreed to hear a plea questioning the power of college hostel authorities to frame rules which discriminate against female students. The case relates to rules issued by Mahila Maha Vidyalaya women's hostel of Varanasi's Banaras Hindu University, where female students are reportedly restricted from going out after 8 pm and wearing clothes of their choice.

DEADLINE FOR AADHAAR REGISTRATION EXTENDED TILL DECEMBER 31 The government has extended the deadline for Aadhaar registration for welfare schemes till December 31, from the earlier deadline of September 30. Further, the Supreme Court is likely to hear the ongoing cases claiming breach of privacy due to Aadhaar during November. The decision comes after an SC bench recently ruled that the Right to Privacy is a Fundamental Right

1ST PLANETARY BODY SEEN BY SATELLITE WAS A COMET HITTING SUN Comet Howard-Koomen-Michels was the first recorded comet to collide with the Sun on August 31, 1979, and the first-ever planetary body discovered by a spacecraft. Images taken by a US satellite showed the comet heading towards the Sun at over 10 lakh kmph. The comet's head disappeared while its decapitated tail continued brightening the corona until it was blown away.

MONTEGRAPPA LAUNCHES NEW SET OF GAME OF THRONES PENS With 300 fountain pens, 300 rollerball pens and seven exclusive fountain and rollerball pens in solid 18K Gold and detailed with Flaming White celluloid, Montegrappa introduces its second set of intricately designed Game of Throne pens. The fountain pen is piston fed and is engraved with the throne itself. To represent the Iron Throne, artisans created a cap made of overlapping swords which represent all seven kingdoms with hilts that rise above the cap to create a crown. It has a sword that serves as a pocket clip with a red ruby hilt. The Game of Thrones logo is also on the cap of the pen. The pens barrel is metal using the lost-wax cast technique which represents the saga through symbols suggestive of the houses. SEASONAL MAGAZINE

YOU'RE UNDERMINING A 155-YR-OLD INSTITUTION: HC TO MAHA GOVT While hearing matters related to noise pollution on Monday, Bombay High Court Judge Abhay Oka criticised the Maharashtra government for "undermining prestige of the 155-year-old institution" by levelling accusations of bias against him and then withdrawing those allegations. The government lawyer had sought transfer of all noise pollution matters from the bench headed by him, accusing him of bias.

SERBIAN BARBER SHAVES KIM JONG-UN'S FACE ON CLIENT'S SCALP A Serbian barber, Mario Hvala, who has a liking for celebrity portraits has released a video of himself shaving an image of North Korean leader Kim Jong-un on one of his client's scalp. "The great poster of North Korean culture and language honoured his (the client's) head with a hair tattoo by the portrait of Jong-un!" read the video's caption.

IMPORTANT COLLECTION FROM TECH ENTREPRENEUR LEADS HERITAGE TIMEPIECES AUCTION An influential tech entrepreneur, according to Jim Wolfe, Director of Fine Timepieces at Heritage Auctions, has meticulously curated a collection for Heritage Auctions’ Timepiece auction on October 24, in New York City. There are rare Patek Philippe timepieces being offered in the collection. Two of them are very important: a Patek Philippe Ref. 5013R-010 in rose gold, with selfwinding minute repeating movement, perpetual calendar, moon phase, leap year indication and retrograde date with an estimated value of $250,000. Also, a yellow gold Patek Philippe Ref. 3974J automatic perpetual calendar minute repeating wristwatch with moon phases, circa 1991 with an estimated value of $250,000. In addition, 75 pieces of JaegerLeCoultre’s Skeletonized Gyrotourbillon II in Platinum will be on offer at the auction.

BONHAMS APPOINTED BY THE DANZIGER FAMILY, FORMER OWNERS OF CARTIER PARIS, TO AUCTION FINE JEWELRY

FRANCK MULLER LAUNCHES GRAVITY SKELETON WATCH The new CS-03.SQT caliber Gravity Skeleton adds cutting edge technology to the Gravity line of Franck Muller. With a new innovative construction, the watch has an exclusive design, three-dimensional aspect, a five-day power reserve and a new texture and structure of the case. The typical bridges and pillars of a tourbillon are turned into an elliptical circle with diameters of 21.2mm that give the timepiece its’ three-dimensional aspect. The structural lines are accentuated by colors on the tourbillon cage and open-worked hands. The timepiece is water-resistant till 3 ATM and available in a variety of colors and finishes with the highest Swiss quality as it has anodized aluminum, black PVD treatment and 18 carat gold or rhodium plating.

The wife of the former owner of Cartier Paris, Gigi Guggenheim Danziger, will be putting up jewelry from her personal collection at Bonhams New York on September 19, 2017. There will be 32 pieces of fine jewelry including signed Cartier pieces from the 1960s and 70s. A few highlighted pieces are a diamond necklace by Cartier which centers on three rectangular-shaped diamonds weighing 1.92, 1.66 and 1.33 carats (est. $30,000 - $50,000). Another is a ruby and diamond brooch by Cartier centered with a rectangular-shaped step-cut diamond, weighing 4.24 carats within a cluster of pear-shaped rubies, accented by marquise-shaped diamonds which Gigi wore to the London premiere of The Godfather, also priced between $30,000 and $50,000.

LUXURY MENSWEAR BRAND CIFONELLI IS COMING TO INDIA Indian company Vault Luxury is introducing luxury menswear brand Cifonelli in India. Through invite-only trunk shows in Mumbai and Dehli, the brand will be offering its madeto-measure and ready-to-wear collections. Cifonelli eloquently combines French tradition, English structuralism and Italian lightness in their well-tailored suits that keeps their elite clientele happy. At these exclusive trunk shows will also be the creative director of Cifonelli, John Vizzone and CEO, Erwan Camphius. Luxury Vault is headed by Shirrin Faarooq and based in Mumbai.

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ST ATE -IN-FOCUS STA

HOW KARNATAKA SHOWS THE WAY ACROSS SECTORS WHEN CHIEF MINISTER SIDDARAMAIAH’S RULE ENTERS ITS FIFTH YEAR, KARNATAKA IS SHOWING OTHER STATES OF INDIA ON HOW TO MAINTAIN LEADERSHIP IN SECTORS LIKE IT, BT, E-COMMERCE, STARTUPS, AND PROFESSIONAL HIGHER EDUCATION EVEN WHILE MAKING MAJOR BREAKTHROUGHS IN SUNRISE SECTORS FOR THE COUNTRY LIKE AVIATION INDUSTRIES, ENTREPRENEURSHIP DEVELOPMENT, AND SKILLS DEVELOPMENT.

earning from how the early-mover advantage has worked for Bengaluru and the state in Information Technology and Biotechnology, Siddaramaiah is leaving no stone unturned in pursuing the next big wave for Karnataka. While the state already leads in a few emerging sectors like e-commerce and startups, the Congress Government is most bullish on pushing growth in the high-tech area of aviation industries. The CM has been smart enough to realize that there is huge synergy for this industry in the state, as Karnataka is second only to Delhi and Maharashtra when it comes to both aircraft movements and passenger traffic. Even Central agencies like DRDO prefers to utilize the state’s potential, and has recently commissioned its Aeronautical Test Range (ATR) at Chitradurga in Karnataka. The state-of-theart facility spread over 4000 acres is the first of its kind in India and will go a long way in furthering aeronautical research.

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HOW KARNATAKA SHOWS THE WAY ACROSS SECTORS

National leadership of Congress has made it clear that Siddaramaiah will be the face of the party in next year’s elections, and there is no doubt that this has made Opposition BJP’s task to take over the state tougher. Karnataka is also showing other states in India the way when it comes to skills development and vocational training. Within days of CM Siddaramaiah launching the acclaimed Kaushalkar web portal and app for the same, over 3.22 lakh youth have enrolled from across the state for training in specialized jobs like account executives, air conditioner specialists, delivery associates, accessory fitters, ambulance drivers, CCTV supervisors, and more. Karnataka has even formed a new Department of Skills Development, Entrepreneurship and Livelihood for spearheading the program. The professionalism and effectiveness of the portal and app have resulted in even BJP-ruled states like Gujarat and Rajasthan evincing interest in the app. This massive initiative in skills is not surprising, given Siddaramaiah’s long-term ambition to provide jobs to 1.80 crore youths by 2030, as estimated by the Knowledge Commission of Karnataka. Unlike many political leaders across India, this CM has been astute enough to realize that if India has to attract manufacturing jobs it has to go miles and miles in skills development, just like how China did it.

This achievement is especially noted as GST is not expected to be net positive for the state in the near term, even while some sectors like ecommerce are expected to outperform on GST. SEASONAL MAGAZINE

Karnataka has even formed a new Department of Skills Development, Entrepreneurship and Livelihood for spearheading the program. In its existing stronghold of IT, Karnataka Government is aware of the challenges especially from the new phenomenon of large-scale lay-offs in Bengaluru and Mysuru, and has decided to tackle it head-on by ministerial level discussions with the IT trade unions. With strong pre-monsoon showers bringing relief across Karnataka, and a healthy monsoon expected to break over the southern state by first week of June itself, the state’s huge farming sector is

expected to perform powerfully. Unlike by many other states, Karnataka Government has rubbished Centre’s recent notification of cattle trade ban, asserting powerfully that it is a purely state issue. This has brought relief to farmers as cattle rearing and trade has been a pivotal part of the farming cycle in the state since centuries. However, on the flipside, the state has pulled back from controversial protests like beef-fests, in accordance with Rahul Gandhi’s vision, who is expected to campaign in the state intensively for continuation of Congress rule in the state. On the business and commerce side, the state’s finance and industries departments have moved effectively to take a swift lead in GST implementation across India, with over 93% of business units already enrolled for the landmark tax reform. This is number one position in the country, even ahead of states like Gujarat, Andhra Pradesh, and Maharashtra, and speaks

volumes about the agility of the government as well as private sector in the state. This achievement is especially noted as GST is not expected to be net positive for the state in the near term, even while some sectors like ecommerce are expected to outperform on GST. The government is also doing everything possible to maintain its lead in professional higher education, across India. For instance, 56 private and government institutions provide medical education in the state, with it producing the most doctors, 8750 to be precise, ahead of other heavyweights like Maharashtra and Tamilnadu by a good margin. Even in the current year, the state has added 350 more MBBS seats. With such concerted efforts to emerge in sunrise sectors and maintain leadership in strongholds, there is no doubt that CM Siddaramaiah will provide a tough fight to Opposition in the 2018 polls.

Chief Minister Siddaramaiah has succeeded in sending a powerful message of standing with the state’s Dalits and OBC people, by hosting the three-day BR Ambedkar International Conference in Bengaluru, which was attended by Congress Vice President Rahul Gandhi; Martin Luther King III, noted civil rights advocate and eldest son of legendary activist Martin Luther King Jr;Nobel laureate KailashSatyarthi; and Dr BR Ambedkar’s grandson PrakashAmbedkar. SEASONAL MAGAZINE

10 WAYS KARNATAKA IS SHOWING THE WAY

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uring the past four years, under Chief Minister Siddaramaiahâ&#x20AC;&#x2122;s visionary guidance, Karnataka has been winning on several specific fronts. The state at large, and especially its pioneering industry sectors were also seen putting their weight behind such efforts. Here are ten such specific ways in which Karnataka is pushing ahead for the future.

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Kannada Pride Close on the heels of making learning Kannada language mandatory in all schools across the state, Karnataka Government is all set to make it compulsory the singing of the State Anthem, ‘Nada Geethe’. If implemented, it will be a sentimental as well as patriotic master-stroke which puts the Sangh Parivar and BJP on the defensive in the state, as their moves to push Hindi into public life has been meeting with significant opposition in the state. Chief Minister Siddaramaiah is also executing this move to promote Kannada culture deftly, without affecting the singing of the National Anthem and school anthems if any.

Asserting its Cauvery Rights While the Cauvery Water Dispute Tribunal’s 2007 decision was given as a final order, there was no doubt in the state that it had affected Karnataka’s interests detrimentally. Now, under Chief Minister Siddaramaiah’s able guidance, Karnataka is effectively contesting this final order in Supreme Court. Senior SC Advocate Fali Nariman, appearing for Karnataka, has impressively dug up alleged excesses done by neighbouring Tamil Nadu that breaches the original 1924 agreement, which the Tribunal had allegedly overlooked while passing the final order in 2007. This move has won widespread support in Karnataka which has been reeling from drought.

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A Pro-Poor Land Bill A few proactive state governments have come out with Land Bills in recent years to replace outdated laws, but under CM Siddaramaiah what the state has proposed The Karnataka Land Reforms Amendment Bill (2016) â&#x20AC;&#x201C; is nothing short of revolutionary. If consented by the Centre and the President, this sharply pro-poor law will give ownership rights to over two lakh people belonging to scheduled tribes and micro backward classes, to lands they have been living on without any documents even if it is private land. The BJP is definitely is in a fix over this, mulling whether it would be better to stall it, or to help the CM and share the glory.

A Pro Homebuyer Realty Law Karnataka has been one of the first state governments to implement the new state law required to implement the new Central legislation on real estate development. While there were initial hiccups in certain provisions, CM Siddaramaiah had directed to quickly address it, and the new clarifications have been widely welcomed by homebuyers and organizations supporting their interests. On the other hand, even major real estate developers, who usually comply with regulations, have expressed their view that the Real Estate (Regulation & Development) Act (RERA) is quite stringent and is seen as protecting homebuyersâ&#x20AC;&#x2122; interests more.

Taking No Chances in Power With the monsoon season reaching almost the halfway mark, the updates from the weather office is that it is unfortunately going to be another rain-deficient year for Karnataka. But like in last two years, Chief Minister Siddaramaiah is taking no chances and has already announced that it will be buying 1000 MW soon. Power availability is a crucial issue in the state due to the concentration of industries, farmers, and even higher education students, which are incidentally three pillars of its economy. The state government has also been pushing for renewable energy in a big way which recently won the appreciation of the British Deputy High Commissioner. SEASONAL MAGAZINE

A German Technical Training Institute Soon after CM Siddaramaiah’s skills development portal and app won national level approval and rapid enrollments from across the state, the government has announced a new Karnataka German Technical Training Institute (KGTTI). While Mysuru will host this world-class institute that can develop 3000 industry-ready candidates, by giving land, water, and electricity, a German company will be doing the significant investments required. The stress will be on hands-on training and towards this state-of-the-art training facilities would be provided by the Germans who are noted for producing some of the world’s best technicians.

The Next-Gen Agri Trading Platform When it comes to tech-enabled services, Karnataka has a natural edge, and the state government too has been utilizing it impressively. The state’s Unified Markets Platform (UMP) built in association with NCDEX Spot Exchange has already connected 157 of the 162 agricultural markets across 29 districts of the state. Bidding is taking place online. Nearly 300 tons of agricultural commodities valued at around Rs.57,000 crore have already been traded by farmers using UMP, and Karnataka is now attracting buyers from other states. Current bulk buyers include ITC, Reliance, Metro Cash & Carry, Godrej Agro, Pepsico India etc.

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Bengaluru to Go Smart How did Bengaluru miss the bus on being selected as a ‘Smart City’ in the first two rounds? The best explanation is that it was already the smartest city in India that needed no handholding for the same. But better late than never, and the Karnataka capital has been selected for being a Smart City in the third round of selection by the Centre. What it means to Bengaluru is that it will get Rs. 2219 crore funds from both the Centre and State to implement several projects to modernize the city and bring it up as a global city. While several projects will vie for the funds, many of them on PPP basis, the bulk will go to a project to revitalize the historic heart of the city.

Finding Solutions in True Tech Style Bengaluru is famous for many things while infamous for only one – the traffic gridlock. Recently, Flipkart, one of the largest ecommerce companies in India, which is based out off Bengaluru conducted a competition for tech teams to come up with out-of-the-box ideas to solve the city’s traffic congestion forever. Believe it or not, teams participated from not only Karnataka or India, but across the world including from Microsoft, Google, Amazon, and Indian startups like Ola. Titled Gridlock Hackathon, the solutions presented including those that leverage Cloud, Big Data, Internet of Things, Artificial Intelligence etc.

Not Resting on Metro Laurels While Karnataka had swiftly moved to implement the metro rail system in its capital, CM Siddaramaiah is not resting on the laurels of having implemented Namma Metro. He has been pushing hard for a more lengthier suburban railway system for Bengaluru and its suburbs, and owing to his persistence, the Centre has recently given the green signal based on the condition that Karnataka should bear 80% of the charges while Indian Railways will bear only the remaining 20%. For now Karnataka has agreed, promising to bargain later. The suburban rail will have 15 MEMU trains and will also include a MEMU maintenance facility at Banaswadi. SEASONAL MAGAZINE

HOW KARNATAKA

SHOWS THE ACROSS SECTORS WAY

On the business and commerce side, the stateâ&#x20AC;&#x2122;s finance and industries departments have moved effectively to take a swift lead in GST implementation across India, with over 93% of business units already enrolled for the landmark tax reform. This is number one position in the country, even ahead of states like Gujarat, Andhra Pradesh, and Maharashtra, and speaks volumes about the agility of the government as well as private sector in the state. SEASONAL MAGAZINE

The government is also doing everything possible to maintain its lead in professional higher education, across India. For instance, 56 private and government institutions provide medical education in the state, with it producing the most doctors, 8750 to be precise, ahead of other heavyweights like Maharashtra and Tamilnadu by a good margin. Even in the current year, the state has added 350 more MBBS seats.

Karnataka is also showing other states in India the way when it comes to skills development and vocational training. Within days of CM Siddaramaiah launching the acclaimed Kaushalkar web portal and app for the same, over 3.22 lakh youth have enrolled from across the state for training in specialized jobs like account executives, air conditioner specialists, delivery associates, accessory fitters, ambulance drivers, CCTV supervisors, and more.

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KARNATAKA AGRICULTURE MINISTRY

HELPING FARMERS WITH KHARIF SOWING

STATE AGRICULTURE MINISTRY HEADED BY MINISTER KRISHNA BYRE GOWDA HAS WORKED TIRELESSLY AND IN TANDEM WITH VARIOUS OTHER KEY MINISTRIES LIKE SCIENCE & TECHNOLOGY AND REVENUE, TO MAKE GOOD USE OF THE REVIVAL IN MONSOON.

uring the last few of years, Karnataka has been facing droughtlike conditions in several districts, thereby affecting prospects of agriculture drastically. However, this year’s monsoon has been kinder to the state, and the agriculture ministry headed by Minister Krishna Byre Gowda has worked tirelessly and in tandem with various other key ministries like Science & Technology and SEASONAL MAGAZINE

Revenue, to make sure that the state’s farmers utilize the better prospects to the fullest extent. Thanks to this, the Kharif sowing has revived across the state. More than ‘normal' rainfall in the last three weeks in 11 districts of south-interior Karnataka, which received scanty rains in the first two months of monsoon season (June-July), has helped revive kharif sowing activities to a large extent. Complementing the

forecast from Indian Meteorological Department (IMD) has been the state’s own body, Karnataka State Natural Disaster Monitoring Centre. According to KSNDMCthe quantum of rainfall in August so far in districts, including Mandya, Mysuru, Chitradurga and Bengaluru, has been 95 mm, which is 70% more than the ‘normal’ benchmark of the long period average (LPA) of around 55 mm. This has reduced overall deficiency in monsoon rains to

only 12% below LPA in the region that was 29% below LPA in the first two months of monsoon season. In July alone, the deficiency was 50% of LPA. Under government direction, crop losses in kharif crops such as paddy, tobacco and ragi, which have been affected, are been compensated by encouraging farmers to grow shortduration millets and pulses. Meanwhile, for the rain-deficient south-interior Karnataka, the agromet advisory of IMD has suggested farmers to continue

sowing of short-duration varieties of ragi, minor millets, jowar, maize and pulses like avare, cowpea etc., at sufficient moisture condition.One of the worst affected parts of the region is Mandya district, which has reported a rainfall deficiency of close to 60% in the last two months. It has now 27% more rainfall than benchmark LPA because of five-times more rainfall received than the normal in the last one week. The Mysuru district has received 46% less rainfall in June and July while overall quantum of monsoon rains is now reduced significantly. During the month so far, 10 districts of Karnataka – out of overall 30 districts – have received ‘excess’ rainfall and 5 districts have received normal rainfall. SEASONAL MAGAZINE

KARNATAKA EDUCATION MINISTRY MULLS

E-BOOK READERS TO REPLACE SCHOOL TEXT BOOKS

MINISTER FOR PRIMARY AND SECONDARY EDUCATION TANVEER SAIT, WHO IS SPEARHEADING THE REVOLUTIONARY INITIATIVE HAS BEEN INSPIRED AFTER A FEW COLLEGES IN THE STATE HAVE TURNED TO USING E-BOOK READERS INSTEAD OF TEXT BOOKS.

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entral and State Governments across India have been facing severe criticism on the weight children have to carry to school. Now, private higher education pioneer, Karnataka, is trying to take a leaf out of the private colleges. The Karnataka government is considering replacing text books with e-book readers like the Amazon Kindle. Minister for Primary and Secondary Education Tanveer Sait, who is spearheading the revolutionary initiative has been inspired after a few colleges in the state have turned to using e-book readers

instead of text books. The move for a digital alternative comes after Karnataka Governmentâ&#x20AC;&#x2122;s move to divide textbooks into two parts, the has only met with partial success in reducing weight of school bags. Karnataka Education Department has already made available all the school

textbooks in a digital format on government website. Minister Tanveer Sait feels that this would make conversion to ebook readers easier. The Ministry is now working out the budget as there are over 1 crore school going students in the state. With the cheapest Kindle costing around Rs.6000

crore, this can make the project quite taxing on the governmentâ&#x20AC;&#x2122;s revenue side. But Minister Sait is trying to solve the issue in a two-pronged manner. Removing private schools from such a program and allowing them to opt and fund for such a program themselves is the first step. This will bring the number of eligible students to 60 lakhs, which is the student strength in government schools. Secondly, Ministerâ&#x20AC;&#x2122;s plan is to fund the cost from the savings possible from totally avoiding text-book printing. There are other avenues to reduce the cost, one of which is using cheaper tabs with a dedicated reader app. However, the plan is not without its challenges. It will take time before the students and teachers get used to it. Then there will be issues such that who will pay for the service for the device, if damaged, or what if there is no electricity to charge the device. While many schools in Karnataka are still in want of basic necessities, implementing e-readers instead of text-books can be a promising step that would further cement the leadership of Karnataka in the education sector. SEASONAL MAGAZINE

KARNATAKA FOOD & CIVIL SUPPLIES MINISTRY ACHIEVE

BREAKTHROUGH FOR POOR WITH INDIRA CANTEENS

Under Chief Minister Siddaramaiah’s visionary leadership, the Food & Civil Supplies Ministry headed by Minister UT Khadeer has been able to achieve a breakthrough for the poor and lower middle-class by implementing over 100 low-cost eateries in capital Bengaluru, under a scheme that will soon be implemented across all the district centres in the state.

t is a known fact that whatever progressive steps Central or State Governments have been taking across India, these often result in grassroots level inflation, with the poor and the middleclass bearing the brunt. The best recent examples are the demonetisation drive and implementation of GST. But in Karnataka, under Chief Minister Siddaramaiah’s visionary leadership, the Food & Civil Supplies Ministry has been able to achieve a breakthrough for the poor and lower middle-class by implementing over 100 low-cost eateries in capital Bengaluru, under a scheme that will soon be implemented across all the district centres in the state. Aptly named as ‘Indira Canteens’ by Siddaramaiah to immortalize former Prime Minister Indira Gandhi’s most famous SEASONAL MAGAZINE

slogan – ‘Garibi Hathao’, the CM also got her grandson and Congress Vice President to inaugurate the canteens in Bengaluru. Targeted at the urban poor and lower middleclass in Bengaluru, the Indira Canteens offer breakfast at Rs. 5 and lunch/dinner at Rs. 10, which are around four times lower than at the cheapest urban eateries. While

UT Khadeer Minister For Food & Civil Supplies

launching the program, Rahul Gandhi said that no person in Bengaluru should ever go hungry and the canteens are a great means towards it. Chief Minister Siddaramaiah said that Indira Canteens was a continuation of the Congress's commitment to a hunger-free Karnataka. A fivemember committee including Food & Civil Supplies Minister, UT Khadeer, was entrusted with planning and heading the program, which they did to perfection within the deadline of August 15th, the nation’s Independence Day. The ambitious project is implemented in

a PPP fashion, with two caterers Mumbai-based ChefTalk and New Delhi-based NGO Rewards, running the show, thereby bringing in private sector efficiencies. These operators run huge base kitchens on a large scale in that supply food to the over 100 canteens. The government has set aside Rs 88 crore for 198 Indira Canteens (one in each ward in Bengaluru). Karnatakaâ&#x20AC;&#x2122;s urban poor depend upon city eateries while the rural poor almost always eat from homes. CM Siddaramaiah started the Anna Bhagya scheme by giving 7 kg of rice free to over 4 crore people the very day he came to power. To its credit, the scheme is stemming mass migration from villages despite severe drought in the last three years. Also, not a single hunger related death has been reported in the State despite severe drought. Siddaramaiah also had tough words for those opposing the move as an election gimmick. He said that only those who have experienced poverty and hunger once in their lifetime would be able to appreciate such moves.

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KARNATAKA FOREST MINISTRY ACHIEVES LEADERSHIP IN

ELEPHANT CONSERVATION Silencing a lot of harsh critics, it has been proven that Karnataka has the most number of jumbos in the country, outpacing traditional leader Assam by a huge margin. It is a major win for the Forest Ministry headed by Minister Ramanath Rai.

ith the first round of Elephant Census 2017 across several Indian states concluding, it is a jumbo success for Karnataka and especially its Forest Ministry headed by Minister Ramanath Rai. Silencing a lot of harsh critics, it has been proven that Karnataka has the most number of pachyderms in the country. With the highest number of 6,049 elephants, the state leaves Assam as a distant runner-up with only 5,719 elephants. Traditionally, Assam has been a leading state from which most of the Indian elephants are caught for taming. Karnataka Forest Departmentâ&#x20AC;&#x2122;s win in this regard is in fact a second confirmation that its conservation of forests and its wildlife have been producing grassroots level results. Earlier, it was proven that Karnataka hosts the highest population of tigers in the country. It is in the southern forest areas that include Nagarahole, Bandipur and Bhadra that the highest density of pachyderms has been spotted in SEASONAL MAGAZINE

Karnataka. In a break from traditional methods of counting elephants, the Elephant Census-2017 was known as 'All-India Synchronised Elephant Population Estimation' and was done simultaneously across the country to ascertain the exact count of jumbos, using direct counting strategies instead of indirect ones like counting elephant dung. Another positive for Karnataka is that the area inhabited by the elephant population is considerably expanding across all divisions. Also, all the

Ramanath Rai, Minister of Forest

forest divisions in Karnataka show the presence of elephants. Jumbos are found in all 33 forest divisions across the state. The results show an overall density of 0.67 elephants per square km over 8,976 sq km, suggesting a total estimated 6,049 elephants in Karnataka. The Nagarahole Tiger Reserve has the highest density with 1.54 elephants per sq km followed by the Bandipur Tiger Reserve with 1.13 elephants and Bhadra Tiger Reserve with 1.12 jumbo per sq km. Similarly, the Bannerghatta National Park on the outskirts of Bengaluru too suggested a salubri-

ous density of 0.63 elephant per sq km of area. Now, Elephant Census 2017 across India would attempt confirmation for the results through indirect methods like dung spotting, and direct methods like GIS mapping of the jumbos, and an ambitious effort to photograph all the elephants. Even after such confirmatory reports it is highly unlikely that Karnataka would lose its status as the Elephant Capital of India as the stateâ&#x20AC;&#x2122;s forest department which was under fire due to forest fires (due to drought) and wildlife deaths, have been working hard to achieve conservation success across all key species.

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KARNATAKA INFRASTRUCTURE MINISTRY TO PIONEER

AIRPORT-TO-CITY HELICOPTER RIDES THE STATE’S INFRASTRUCTURE DEVELOPMENT MINISTRY HEADED BY MINISTER RV DESHPANDE IS ALL SET TO FACILITATE THE COUNTRY’S FIRST AIRPORT-TO-CITY HELICOPTER TAXI SERVICE, WHICH WOULD OFFER COMPETITIVE RATES FOR A PREMIUM SERVICE TAILORED FOR TIME-PRESSED EXECUTIVES AND EMERGENCY PATIENTS.

good deal of brainstorming and hard work have already gone into easing traffic woes in Bengaluru, but with limited success due to the high growth rate of India’s Silicon Valley. Now, Chief Minister Siddaramaiah and Infrastructure Development Minister RV Deshpande are pioneering a novel method – helicopter taxi – to further facilitate the ease of emergency travel between Bengaluru Airport and the city. What is more, it would be significantly cheaper than the expectations from such a premium service. HeliTaxi is expected to be functional from the Kempegowda International Airport within three months. The helicopter taxi service will help people reach their destinations from the airport - that too at the cost of only a luxury cab service! The aerial service will ferry air passengers to and from the airport to the city faster than private cars, cabs or buses can through dense vehicular traffic, and will be available both ways. Tying up with a private helicopter service proSEASONAL MAGAZINE

vider Thumby Aviation Ltd, the aerial ferry will help passengers travelling between the airport and the city on demand. The project is now seeking regulatory approvals after which an integrated transfer service between the airport and the city as part of passenger-friendly initiatives will be set up. The approvals are likely to be obtained as the project has the blessings of Union Civil Aviation Minister, Jayant Sinha too. The first line to operate would be from Airport to Electronic City. Next destinations

planned include Whitefield and HAL Airport. Current fares charged for an air-conditioned taxi between KIA and Electronics City range between Rs. 1500 to Rs. 2500 for a 50 kilometer ride. The travel time by road could take between 1.5 hours to 3 hours depending on traffic, while the new helicopter ride would take only 15 minutes. Infrastructure Minister RV Deshpandeâ&#x20AC;&#x2122;s plan is to make operational many of the 90 helipads in multi-storeyed buildings across Bengaluru. The new service will be convenient for executives needing faster access to the thriving city, which is expanding and extending all-around in view of its rapid economic development.

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COME TO KARNATAKA, INDIA’S MOST ATTRACTIVE INVESTMENT DESTINATION

Karnataka Government led by Chief Minister Siddaramaiah is leaving no stone unturned in its quest to grow at a much faster pace than the rest of the nation. Spearheading the efforts is Karnataka’s Ministries for Large & Medium Industries as well as Infrastructure Development, both led by Minister RV Deshpande. Under the visionary leadership of these leaders, the state has hosted high-profile international investment meets, bettered ease-of-doing-business, and unleashed industrial and tech-led innovations through more than ten flagship programs. The massive efforts have found stunning results with Karnataka surpassing Gujarat as the most attractive investment destination in India, according to Central Government’s own numbers. Here is a look into these ten programs that are proving to be game changers for the state in the next round of prosperous industrialization, especially in emerging sectors. Karnataka has surpassed Gujarat to occupy the pole position as the country’s most attractive investment destination as per the SIA Index up to May, 2017. These figures have been released by DIPP recently

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Sri Siddaramaiah, Hon’ble Chief Minister

“Karnataka is one of the fastest growing States in India, propelling the country’s growth to greater heights.”

The State of Karnataka is home to scores of multi-national corporations (MNCs) of all hue. The State, known as the Silicon Valley of India while housing the maximum number of Information Technology (IT) companies in the country, is also known as the ‘R&D Hub’ and the ‘Start-up Hub’. Karnataka is not only thrives in IT, but has diverse strengths across sectors including Coffee, Aerospace, Biotechnology, Pharmaceuticals, Agro and Food Processing, Renewable Energy, Heavy Industries, Machine Tools and Construction. From the late twentieth century, when the Indian economy was not as open as it is today, these industries operated in Karnataka, and prospered. Post 1996 as the liberalization of the Indian economy took place and barriers of doing business in the country were broken down, Karnataka grew at a scotching pace. As a result, not only did these industries expand at a great pace, but new and innovative companies too started springing up and expanding. Karnataka Government has initiated a number of programmes to translate its promises to the people for social and inclusive growth. Where, the Department of Industries and Commerce acts as a catalyst for the overall development of the industrial sector. With a view to promote investment and trade, the Department formulates and implements the Policies of the State. Facilitating the take-off of infrastructure projects that boost the industrial growth has also been the Department’s forte. The Department helps enhance the competitiveness of domestic industry through modernization, technology upgradation and adoption of best practices. Karnataka, the first state in the country to come up with Karnataka Industries (Facilitation) Act, 2002 for the promotion of the industrial development and facilitation of new investments. Karnataka Udyog Mitra (KUM) is the nodal agency for providing single window facilitation for all investors has been assisting the State Industries and Commerce Department by holding regular meets under the State Level Single Window Clearance Committee to clear projects.

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Flagship Programmes by Government of Karnataka a) New Industrial Policy 2014-19 The New Industrial Policy 2014-19 aims at achieving an industrial growth rate of 12% per annum by attracting investments of about 5 lakh crore & generate employment to about 15 lakh persons during the Policy period.Special attention has been given to MSME sector by reserving 20% of the allotable land in each KIADB industrial area. Policy helped to incentivise investments in the industrially backward regions of the state and support the investments by socially disadvantaged people. Policy also supports for development of industrial and economic corridors and to promote private industrial parks have been laid.

b) Retail Trade Policy: The State Government has announced the Retail Trade Policy on 13.06.2016, to create an efficient and seamless internal trade opportunity and to boost the economic competitiveness of the State economy by promoting and facilitating world class logistics / warehouse chain, minimizing wastage and transaction cost within the retail enterprises, giving the best value for money to the ultimate consumer while at the same time maximizing returns to the products, particularly farmers and SMEs.

c) NRI Policy: India today has one of the world’s largest and most successful “diaspora”, with a large number of expatriate Indians and people of Indian origin living across nearly 185 countries. According to a recent report, the top 15 countries in descending order with large overseas Indian population include USA, Saudi Arabia, Malaysia, Myanmar, UAE, UK, Sri Lanka, South Africa, Canada, Mauritius, Kuwait, Oman, Singapore, Qatar and Nepal. The State Government has announced NRI Policy of Karnataka on 02.12.2016 to direct investments to Karnataka and to ensure the welfare of SEASONAL MAGAZINE

overseas Kannadigas. d)Formulating and implementing revolutionary policies and statutes like the pioneering Start-up Policy, Aerospace Policy, Semi-conductor Policy, and AVGC Policy has helped Karnataka to become one of the largest technology clusters in the world and a global hub for IT and ITeS. These initiatives are also assisted by different accelerators, which are set-up in coordination with different industry bodies like NASSCOM. Start-ups will not be limited only to software and aerospace. It will encompass all sectors including aerospace, health, food processing, and others. In order to ensure that innovation in the state is supported and further encouraged through sectoral policies and the recent initiatives of the start-up policy.

Events By Karnataka Government: a) Invest Karnataka 2016 In the recent past, “Invest Karnataka 2016” a Global Investors Meet, the State's flagship investment promotion event was held during 3rd to 5th February, 2016 in Bengaluru in which the State attracted an investment of Rs.1.27 lakh crores from 122 MOUs. Further 1080 projects were approved in the Single Window to an investment of Rs.1.77 Lakh Crores for the State. The industry representatives from over 15 countries were participated.

b) “Think Big 2016”International Women

R.V. Deshpande, Minister for Large & Medium Industries and Infrastructure Development

Boosted by the Government’s promises and actions, the state has emerged as a hot investment destination. Different schemes and programmes implemented have won acclaim at several national and prestigious fora.While Bengaluru has emerged one of the 20 emerging cities of the world - the one and only city in India. Also, the State is third in the country in terms of good governance. Industrial Policy 2014-19 has an ambitious target of creating 15 lakh job opportunities and attracting investment of Rs.5 lakh Crore.

Entrepreneurs Summit The event was organized in coordination with WE Connect International on 14-15 November 2016 in BIEC, Bengaluru. It was Asia’s largest platform for multinational corporate buyers, Government officials, Multilateral organizations, investors, venture capital executives and industry thought leaders to connect with Women-owned Businesses in Asia. The summit was attended by over 4,000 dynamic participants who participated in the inspiring and interactive sessions. The event brought together stakeholders of women entrepreneur community on one platform with 100 speakers, 400 companies and 60 women associations

c) PravasiBharatiya Divas 2017

d) “Make in IndiaKarnataka Conference’’

PBD 2017 was organized jointly with Ministry of External Affairs, Government of India from 7th to 9th January 2017 in Bengaluru. This event enabled the State to showcase the potential of the State for investments to the visiting Non Resident Indians (NRI), Person of Indian Origin (PIO) and Overseas Citizens of India. The convention saw participation of 7,200 delegates including 2,000 overseas delegates from across 72 countries. MEA, GoI has acknowledged that this was one of the best arranged and most attended PBD convention so far.

Make in India-Karnataka Conference was organized in association with Department of Industrial Policy and Promotion, Govt. of India and CII on 14th&15th February, 2017 at Bengaluru. The event was brought together leading industrialists / CEO’s from domestic and international corporations and SMEs, policy makers from different countries, members of international business and financial community, trade and industry associations, entrepreneurs, thought leaders, researchers etc. on one platform for knowledge sharing, business

participating in the event.

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networking and investment promotion. Over 500 B2B meetings and 20 B2G meetings were held across different focus sectors with international / national business houses and corporations. More than 50 world class companies showcased their manufacturing prowess in the exhibition. More than 2500 entrepreneurs witnessed 9 focus sector sessions and more than 6,300 delegates participated in this event.

e) Aero India – 2017, Bangalore Government of Karnataka has actively participated in Aero India – 2017, the 11th International Aero Show organized by the Ministry of Defence, Government of India from 14th to 19th February, 2017 at IAF, Yehalanka, Bengaluru. The State Government has extended all kinds of support for this mega International Event, as Karnataka particularly Bengaluru is the Aerospace Hub of India.

Ease of Doing Business in Karnataka during 2016 The key pitch for Invest in Karnataka is the ease of doing business here. eBiz is one of the integrated services projects and part of Mission Mode Projects (MMPs) under the National EGovernance Plan (NEGP) of the Government of India. Accordingly, the State has also started integrated services for the project approvals of the line departments related to Industrial Investments, which provides online filing of application, processing, status verification and also provision of downloading of final certificate/clearances. The system also provides third party verification of the certificates & clearances issued. The ebiz web link viewed at http:// ebizkarnataka.gov.in Department of Industrial Policy & Promotion, Govt., of India had circulated 340 Action points for the year 2016 to implement Reforms in Ease of Doing Business for the State/UTs under Business Reform Action Plan 2016. These include the reforms on regulatory SEASONAL MAGAZINE

processes, policies, practices, inspections and procedures spread across 10 Reform areas comprising of 23 different departments of the State. The Govt., of Karnataka had achieved implementation of 301 Action Points with 88.39% during 2016 by improving its achievement from 48.50% during 2015. The evidences of the Action points implemented were uploaded through EODB dashboard of DIPP & these evidences were scrutinized for its appropriate by World Bank team, accordingly the implementation status revealed. Major achievements during 2016 in the areas like Tax reforms, Environmental and Labour reforms & Inspection reforms.

Major initiatives of Ease of Doing Business: • Dedicated Single Window Agency for project approvals formed under Karnataka Facilitation Act, 2002. • Project approvals provided online through Single Window portal.(www.ebiz Karnataka.gov.in) • “Guide to Investors on setting up of Industrial Enterprise” providing holistic information on infrastructure, registrations, approvals, etc. on Single Window portal. • Registrations/approvals of line departments provided online through Single Window portal. • All Commercial tax related services are being provided online.

• Online information on availability of land in Industrial Areas. • Timelines fixed for providing most of the industry related services under Karnataka Guarantee of Services to Citizens Act. • Property registration fully computerised. • Online Consent for Establishment from Pollution Control Board. • Labour and Factories and Boiler Dept. related registrations & renewals are being made online with provision for online payment and digitally signed downloadable & verifiable certificates. • Forest department has exempted all notified industrial areas from seeking prior permission for felling of trees. • Validity of Consent for Establishment (CFE) made 5 years for all categories. • Consent for Operation (CFO) made 10 years for Green Category and for Red & Orange categories extended from existing 1 year to 5 years. • 58 Industrial Activities are notified as white category and do not require consent from Pollution Control Board.

Industrial and infrastructure Development a) Aerospace Common Finishing Facility

(ACFF) Centre: The Govt. is establishing Aerospace Common Finishing Facility (ACFF) Centre in Aerospace Park, Bengaluru to facilitate the MSME’s in the Aerospace sector through the Government of India Modified Industrial Infrastructure Upgradation scheme (MIIUS) with a project cost of Rs. 93.00 Crore.”

b) Tumakuru Machine Tool Park (TMPT) at Vasanthanarasapura Industrial Area, Tumakuru District Karnataka has proposed to develop Tumakuru as an Industrial Node in Chennai Bengaluru Industrial Corridor (CBIC), which also happens to be India's first National Investment and Manufacturing Zone (NIMZ).An extent of 529.50 acres of land has been earmarked for development of Tumakuru Machine Tool Park (TMTP) in Vasanthanarasapura Industrial Area III Phase, Tumakuru. c) Japanese Industrial Township at Vasanthanasarasapura Industrial area, Tumakuru District. The Government of Karnataka has proposed a Japanese Industrial Park (JIP) to be developed in Vasanthanarasapura Industrial Area III Phase in an extent of 519.55 acres of land near Tumakuru district, located at about 90Kms from Bengaluru. The proposed JIP will be developed with the assistance of Government of Karnataka, Department of Industrial Policy & Promotion (DIPP) and the Ministry of Economy, Trade and Industry (METI) of Japan. The approximate cost estimate for development of the proposed JIP has been worked out to Rs.365.00 Crores.

d) Chennai Bengaluru Industrial Corridor [CBIC] The corridor is planned to cover a distance of around 560 KMs and pass through 16 districts spread across the states of Tamil Nadu, Karnataka and Andhra Pradesh. The corridor could possibly follow the alignment along the Golden Quadrilateral Highway. There is significant interest in the region from international investors. Japan International Cooperation Agency (JICA) engaged a consortium of consultants for the preparation of a Comprehensive Regional Perspective Plan for the CBCIC Region, Master Plan & Development Plan for the selected industrial nodes, including Tumakuru in Karnataka.

GoI has nominated Delhi-Mumbai Industrial Corridor Development Corporation Limited (DMICDC) as project nodal agency. Three priority industrial nodes viz. (1) ChitradurgaDavanagere (2) Dharwad (3) Belagavi along the BMEC region of Karnataka.

g) Industrial Townships: It is proposed to declare large industrial areas and estates in Peenya and Bommasandra of Bengaluru, Mysuru, Belagavi&Hubballi as industrial townships and establish Authorities in respective townships to be managed by the industrialists as per the Karnataka Municipalities Act, 1964. Already Electronic City industrial area has been declared as Industrial Township.

e) Industrial Node, Tumakuru

h) Vision Group:

The “National Manufacturing Policy” has envisioned establishment of National Investment and Manufacturing Zone (NIMZ) in the similar line for the development of Industrial Node at Vasanthnarasapura, Tumakuru District. Total land of 9,628.43 acres has been acquired.

‘Vision Group’ has been formed headed by sectoral experts for Pharma and Medical equipment to formulate the necessary programmes to encourage Pharma and Medical Devices Units in the State.

f) Bangalore-Mumbai Economic Corridor (BMEC) The Government of India (GoI) in partnership with Government of United Kingdom intends to develop the Bangalore-Mumbai Economic Corridor (BMEC) between Bangalore and Mumbai in similar lines of DelhiMumbai Industrial Corridor (DMIC). BMEC would have an influence area spread across the states of Karnataka and Maharashtra, covering an overall length of 1,000 kms. approx. Department of Industrial Policy & Promotion (DIPP),

i) KSIIDChas initiated activities for the development of the following projects • Expansion of the International Airport.

Bengaluru

• Development of Bengaluru International Convention Centre Complex adjacent to the Bengaluru International Airport on PPP mode • Development Business Park

Devanahalli

• Development of a Sea Port at Tadadi on PPP mode • Dabhol-Bangalore Gas Pipeline & City Gas Distribution Project for Bangalore • Development of Airstrips

j) Other proposed Initiatives • Karnataka Government wishes to make Bengaluru the Electric Vehicle Capital of India. • Karnataka intends to formulate a policy for hi-tech and frontier industries like 3D printing, Robotics, Nano Technology, IOT, Big Data Analytics, Artificial Intelligence and Machine Learning, Stem Cell Research, Bespoke DNA Medicine and other areas which will define the next 20 years. SEASONAL MAGAZINE

"Technically, we are a little ahead of the curve when it comes to policy framing on emerging technologies and advanced technologies.

E-Governance Leader Karnataka

Accuses Centre of Non Cooperation in IT Policy

Kharge said the Karnataka government is first in the country to come up with an electric vehicle policy and is planning to frame a policy on ecommerce, preference for start-ups in government procurement and exploring opportunities around the emerging blockchain technology.

Karnataka IT Minister Priyank Kharge has alleged that the Centre is not collaborating with the state too often on policy matters and has not reached out to it on key issues like Internet governance, data protection and privacy. Priyank Kharge

very state should have an opinion because at the end of it, a national policy is going to affect everybody. They (central government) cannot limit a national policy only to one state. It is a national policy," Kharge, who also holds the portfolio of bio-technology and tourism, told in an interview. He made the point that it is good to have a complete opinion of all states while framing national policies and more important states like Karnataka which has been a leader in egovernance and technology.

framing on emerging technologies and advanced technologies. There is a lot that we can learn from each other. Somehow, I don't see that collaboration happening too often, but I think it should," he said.

"When it comes to data protection and privacy issues, then I don't think the Government of India has formally written to the government of Karnataka or at the secretariat level. If they call us for us discussion, we will be more than happy to do it," Kharge said. The Ministry of Electronics and IT has created a panel to offer its recommendation on data protection framework in India, which will also deliberate on rules concerning privacy in the digital era. "Technically, we are a little ahead of the curve when it comes to policy

"Policy making is a constant process and we can evolve great policy only when we listen to our stakeholders," Kharge pointed out. He spoke of an instance where the state was not involved when the Centre firmed up its stand on Internet governance in 2015. "I don't think anybody from the ministry wrote to me or my department for our view on that (Internet governance). It would have been discussed with our stakeholders. Maximum number of stakeholders is in Karnataka," Kharge said. A government panel headed by Finance Minister Arun Jaitley had firmed up the country's stand on Internet governance in 2015 and submitted it to international body ICANN, which manages and implements worldwide Internet rules and policies. The views were sought from the global community after many countries and interested parties raised security concerns around critical data over Internet being routed through servers in the United States. "In a federal structure, we need to learn to work with the government of India. Although we may have different ideologies, different party. it is our job to work within that federal structure. Anytime they reach out to us, we will always be happy to help. Anytime we want their help, they would do that. A lot more collaboration is desired," Kharge said.

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GREEN PANEL APPROVES NEW INDUSTRIAL AREA PROJECT IN KARNATAKA

The peak demand of power in Karnataka in September 2016 was 9,500 MW

Karnataka Moves Swiftly to Buy 1000 MW Power

ndia's green panel has given environment clearance for developing the Rs 151.60-crore Jakkasandra industrial area in Kolar district, Karnataka, a senior government official has said. The final clearance will be given by the Union Environment Ministry, which takes a decision on the basis of the recommendation of the green panel, Expert Appraisal Committee (EAC). As per the proposal, the Karnataka Industrial Area Development Board (KIADB) will develop an industrial area in 627.47 acres in Jakkasandra village of Kolar with an aim to support startups, new enterprise incubation and development of knowledge-based business. In a recent meeting, the EAC examined the KIADB's proposal and suggested green nod for developing the Jakkasandra industrial area with some conditions, a senior government official told. Among conditions specified, KIADB has been asked to protect two tanks adjacent to the existing area, he said. The KIADB has informed the Centre that the land for the proposed project has been acquired and compensation has been paid. Public hearing has been completed and there are no court cases pending against the project, he added. The project cost is estimated to be Rs 151.60 crore.

RECENTLY, STATE’S ENERGY MINISTER DK SHIVAKUMAR SAID THE STATE EXPECTS POWER DEMAND TO RISE FROM AROUND 8,500 MW TO 9,500 MW — 10,500 MW IN THE UPCOMING FESTIVE SEASON. arnataka will buy an additional 1,000 MW of power for eight months, starting immediately, as it faces a shortage of power supply from plants designated to the state. According to sources, the tenders have been won by Sembcorp (400 MW), JSW Energy (300 MW) the Nigrie and the Bina thermal units of Jaiprakash Power Ventures (100 MW each) and Shree Cements (100 MW). The state would buy the power at Rs 4.08/unit.

5,430 MW. It also purchased 184 MW from the power exchange. Recently, state’s energy minister DK Shivakumar said the state expects power demand to rise from around 8,500 MW to 9,500 MW — 10,500 MW in the upcoming festive season. The peak demand of power in Karnataka in September 2016 was 9,500 MW. The state is currently facing a shortage of 3,300 MW from its designated power plants.

The Karnataka Electricity Regulatory Commission had allowed the state to float two separate tenders of 500 MW for the power procurement, one from power plants based in southern states, and the other from the rest of the country.

There is a shortage of about 520 MW of hydro power due to low water storage levels in hydro stations, an 700MW unit at the Bellary power plant and the 1,600-MW Yeramarus units are under outage.

On September 17, the state’s own generating units produced 4,860 MW of power while it had to import 579 MW from other states to meet the demand of

Karnataka is also not receiving its 200 MW share of power from the undermaintenance 1,000 MW Kudankulam nuclear unit. SEASONAL MAGAZINE

KARNATAKA

WOMEN-RUN INDIRA MOBILE CANTEENS TO START IN KARNATAKA

Women-run mobile canteens, ‘Indira Saviruchi Kaituthu’, will hit the roads in all of Karnataka’s district headquarters on November 1. o implement this, women’s federations consisting of 20 presidents of self-help groups have been formed in each district. Each federation will be given a sum of Rs 10 lakh which can be used to buy vehicles specially designed for the purpose as well as utensils. Bharathi Shankar, Chairperson of the Karnataka State Women’s Development Corporation, said, “This is an ambitious project of the Congress government in empowering women in a systematic way. To begin, the canteens will function in all district headquarters. Based on the success, it will be introduced in taluks too.” Central Food Technological Research SEASONAL MAGAZINE

Institute has started training the women on cooking, maintaining hygiene, and managing the whole operation. This is just primary training as there is no specific menu for all and the women can cook whatever they choose. The amount given to them will have to be repaid in monthly instalments with no interest. The canteens will have movable chairs and tables and function like mini hotels that are constantly on the move.

Though there will be a minimum of 10 canteens in Bengaluru, other cities like Mysore and Mangalore will initially have a maximum of five, which may be increased based on the response they receive.

Apart from that, self-help groups run by women wanting to extend their business will be given loans by the Karnataka State Finance Corporation at a subsidised interest rate. Though there will be a minimum of 10 canteens in Bengaluru, other cities like Mysore and Mangalore will initially have a maximum of five, which may be increased based on the response they receive. Indira Saviruchi Kaituthu canteens will mostly be near educational institutions, hospitals, and government institutions, and there will be an effort to ensure that they are not too close to the Indira Canteens. Rs 30 crore from the Budget has been set aside for this project.

THE METRO HAS ONLY COMPLETED PHASE 1 AFTER YEARS OF DELAY AND STILL HAS A LONG WAY TO GO BEFORE ITS PHASES 2 AND 3 CAN BE COMPLETED.

KARNATAKA

NAMMA METRO CUTS POLLUTION IN BENGALURU According to Karnataka State Pollution Control Board, Namma Metro has contributed significantly to reduce air pollution in the city.

s per KSPCB study the particulate matter in the air over the city has considerably fallen since Phase 1 of the Metro Rail became fully operational, carrying many more people over longer distances. Chairman of the KSPCB, Laxman says the board, which does regular monitoring of the Air Quality Index (AQI), has found it has considerably improved in areas served by the Metro Rail. And attributes this to the proportionate number of two-wheelers found parked at the Metro stations. â&#x20AC;&#x153;We have noticed that in the EastWest and North-South corridors of the Metro Rail, the air pollution, despite being above the national average, has considerably fallen. The AQI in Nayandahalli, Jayanagar and KSR railway stations has certainly improved,â&#x20AC;? he maintains. KSPCB's 16 monitoring centres are spread over different zones such as industrial, mixed (residential, rural and others) and sensitive (hospitals, schools etc).

According to KSPCB data, six monitoring stations - at Export Promotional Park (ITPL); Peenya Industrial Area; Swan Silk Private Limited, Peenya; Amco Batteries, Mysuru Road; Yeshwantpur police station and Victoria hospital - have witnessed a fall in pollutant levels. Amco Batteries has recorded the steepest dip of 42%. KSPCB officials also attribute the reduction to asphalting widening of roads and completion of major infrastructural work at some places. Apart from PM10, KSPCB monitoring stations also test the air for sulphur

THE METRO HAS ONLY COMPLETED PHASE 1 AFTER YEARS OF DELAY AND STILL HAS A LONG WAY TO GO BEFORE ITS PHASES 2 AND 3 CAN BE COMPLETED.

dioxide (SO2), nitrous dioxide (NO2) and carbon monoxide (CO) levels. While at most centres these indicators are within permissible limits, at City Railway Station, they exceed the national limit of 40 ugM3. It's also possible that the unseasonal heavy rain of August and September may have brought down the air pollution in these parts. The Metro has only completed phase 1 after years of delay and still has a long way to go before its phases 2 and 3 can be completed. Also, last mile connectivity is still an issue. Hopefully, the introduction of a Mono Rail and integrating it with the Metro Rail will persuade more people to leave their vehicles at home and opt for public transport. SEASONAL MAGAZINE

KARNATAKA

VOLKSWAGEN EXPANDS PARTS CENTRE IN BANGALORE German auto major Volkswagen said it has expanded its regional parts distribution centre in Bangalore.

SARJAPURA ROAD TO WIDEN, WITH A 3-METRE MEDIAN Bruhat Bengaluru Mahanagara Palike (BBMP) has taken a decision to construct a three-metre wide median to ease the construction of Metro along the road in the future. Along with the wider median, the road will also have dedicated bicycle tracks on both the sides. The Palike also plans to plant trees on both sides of the stretch. olkswagen Group India had first set up the parts distribution centre (PDC) at Bangalore in 2015 to strengthen the network and help improve timely delivery of genuine parts to authorised service stations. The PDC provides genuine parts to 111 dealers of various group brands like Audi, Volkswagen and Skoda across Karnataka, Andhra Pradesh, Tamil Nadu, Telangana, Maharashtra, Goa and Kerala. "The expansion of the PDC in Bangalore is a strategically important move for the Volkswagen Group in India," said Berndt A Buchmann, Director of Volkswagen Group India After Sales & Vehicle Logistics. The PDC would cater to the southern region which contributes to close to half of parts sales in the country, he added. "Our target is to ensure quickest delivery of parts to dealers ultimately improving customer satisfaction," Buchmann said. The company has invested around Rs 12 crore on the expansion of the centre. In order to further strengthen the Volkswagen Group in India the company is also looking to to set up a Regional Distribu The RDC is expected to be functional by the fourth quarter of 2018. SEASONAL MAGAZINE

hile it is well-known that the widening of Sarjapura Road has received a lot of opposition from the owners of identified lands along the stretch, according to the Palike, it has already acquired 40 per cent of the property required for the project. An official from BBMP said, “The proposed road will have six lanes and a wide median. There will be greenery and dedicated bicycle tracks on both sides.” “The median will be three-metre wide and this will be very useful during the construction of Metro along the stretch in the future. This wider median will helps us avoid traffic problems during the construction of Metro,” he said. The Palike has planned to widen the road to twice its current width and has floated the tender for the project which will cost around Rs 84 crore. The project will build a 45-metre road for the length of 4.37 km between Iblur Junction and Carmelaram Junction. The road is currently 80 feet wide and the Palike wants to widen it to 160 feet. Currently, the stretch sees the worst traffic congestion in the city. This is likely to get worse as more motorists are added each day. The Palike has planned to build a sixlane road along the stretch, including service road on both sides. The civic agency had initially identified about 248 properties along the stretch and issued notifications in newspapers.

How IIM Bangalore Incubates Social Ventures Anchor-mentors will guide the start-ups through their 18month incubation journey at the NS Raghavan Centre for Entrepreneurial Learning. he eight early-stage organizations selected by IIM Bangalore's N. S. Raghavan Centre for Entrepreneurial Learning (NSRCEL), under the social ventures program for incubation over the next 18 months, were inducted on September 15 (Friday), 2017, in the presence of IIMB faculty, mentors and NSRCEL members.

frequent Q&A mode. There will be many speaker sessions and workshops to engage you in high gear. Access to online platforms will help boost interaction with a larger community. To make you successful is our own test as well," Rajiv Sawhney, Chief Operating Officer, NSRCEL said.

The entrepreneurship and innovation hub of IIM Bangalore - NSRCEL - had launched its social ventures incubator in April this year, to nurture early stage non-profit organizations.

Through this initiative, NSRCEL Social aims to address the lack of an effective support system for early stage NGOs that are offered little or no technical assistance for fund raising, legal issues and operational challenges, said a statement from IIM Bangalore.

"A review system will be in place for periodic intervention to monitor your progress. We need to get into a far more

One of the first social incubators of India exclusively for non-profit organizations, it aims to help create a pool of

high-performing organizations that can create large-scale social impact. The social ventures incubation program is currently supported by the Michael & Susan Dell Foundation. These selected ventures will be incubated for a period of 18 months and given financial support of INR 18 lakhs. The goal of the NSRCEL Social Ventures Program is to help the ventures build a mindset to scale and impact. NSRCEL will put in place an M&E

The goal of the NSRCEL Social Ventures Program is to help the ventures build a mindset to scale and impact. framework to periodically track progress of the ventures through joint goal setting efforts of mentors and ventures and enable a three pronged mechanism of self, peer to peer and mentor review system in place. NSRCEL also intends to foster cross learnings and sharing of best practices through the mix of programs and other incubatees under its fold. The selection process for the program started early April this year. The centre received over 160 applications, out of which 24 were selected spanning diverse sectors like education, livelihood, financial inclusion, etc. The 12-week pre-incubation program for these ventures included mentoring, classroom sessions on critical strategies, field visits, boot camp, networking and intensive review sessions. Professor Sourav Mukherji, Dean of Academic Programmes at IIMB and one of the mentors, congratulated the incubatees for having taken up, what he described as, 'the bold and difficult journey of entrepreneurship'. SEASONAL MAGAZINE

KARNATAKA

CM SIDDARAMAIAH LAUNCHES LONGER LUXURY BUSES OF KSRTC Chief Minister Siddaramaiah recently launched 23 KSRTC's new Airavat club class buses including eight 14.5-m long buses, a meter more than the existing buses. To increase the space between two seats in order to provide more legroom for passengers travelling in long distance routes, KSRTC, for the first time, introduced 14.5 meters (51 seats) and 13.8 meters (47 seats) buses. At present Airavat Club Class buses are only 13.5 meters with 47 seats.

Bengaluru and Mysuru-Bengaluru. The newly launched buses are fitted with latest BS-4 Engine with an

The newly launched buses will be operated on routes like BengaluruCalicut, Bengaluru-Chennai, BengaluruVijayawada, Bengaluru-Sriharikota, Mangaluru-Manipal, MangaluruMumbai, Mangaluru-Bangalore, Virajpet- Bengaluru, Madikere-

electronically controlled unit, manual and intelligent automated gear shift changing system, steerable rear wheel axle for better smaller turning radius and to negotiate sharp curves and electronically controlled suspension system provides comfort for travelling passengers. The chief minister has also released the four years achievement book of the transport department. Transport minister H M Revanna, home minister Ramalinga Reddy, KSRTC chairman K Gopala Poojary and KSRTC managing director S R Umashankar were present.

He briefed her on traffic issues in Bengaluru and how they could be resolved with the handing over of 67 acres belonging to the Defence Ministry within city limits. According to a statement from Mr. Siddaramaiahâ&#x20AC;&#x2122;s office, he urged Ms. Sitharaman to hand over the land at the earliest so that important road upgrades can be launched. The State government has agreed to hand over 207 acres in a single parcel near Anekal in return for the 62 acres. This deal, accorded in-principle agreement by the Ministry, will remove

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AUTO

THE NEW SUVS DRIVING IN SOON RENAULT CAPTUR, SKODA KODIAQ, RANGE ROVER VELAR

compact SUV -- Nexon. Priced at Rs 5.85 lakh to Rs 9.45 lakh (ex-showroom New Delhi), Guenter Butschek, MD of Tata Motors, said aiming for a podium, if not a No. 2 position in the compact SUV space with Nexon is ‘realistic’ and is not ‘aiming for moon’ due to the strong value package of Nexon. The festival season is considered as auspicious time for buying so automakers are cashing in on this opportunity by queuing up a bevy of new sports utility vehicles to lure buyers. Maruti Suzuki is inching closer to launch a refreshed avatar of its crossover model, the S-Cross. The facelifted variant, which is expected to go on sale on 28 September, will be yet another launch to watch out for in the SUV space. The car is expected to be priced between Rs 7.94 lakh and Rs 11.66 lakh (ex-showroom, Delhi). In the premium segment, the Skoda Kodiaq, a seven-seater SUV based on the Superb

With the launch of Renault Captur in mid-October others like Tata, Skoda, Maruti, Toyota, Audi and M&M are beelining with either refresh or all-new SUVs to boost sales. In the premium segment, the Skoda Kodiaq, a sevenseater SUV based on the Superb platform, and Range Rover Velar from Jaguar Land Rover India are set to be launched next month. his festive season car buyers will be spoiled by huge number of options in the sports utility vehicle segment as the manufacturers have more than half dozen launches in the segment for festive season. These launches include some refreshes and a few completely new products like Skoda Kodiaq, Tata Nexon and Renault Captur. Carmakers are expecting a 12-15 oer cent spike in sales this festive season thus trying to catch the opportunity. The festival season is considered as auspicious time for buying so automakers are cashing in on this opportunity by queuing up a bevy of new sports utility vehicles to lure buyers. French carmaker Renault recently unveiled its premium SUV with crossover DNA – Renault Captur. The carmaker has comSEASONAL MAGAZINE

menced the production of Captur, and has also started taking bookings on the Renault Captur App and Renault India Website at an initial booking amount of Rs 25,000. Sumit Sawhney, Country CEO & MD, Renault India Operations, said: “Over the past few years, SUV sales are growing exponentially, making it the fastest growing segment in India. Renault Captur is a globally successful premium SUV and is widely acclaimed for its stunning expressive design, premium and class-leading features and the high levels of personalisation that can be achieved with this car.” “Renault Captur will further strengthen our position in the fast-growing SUV segment and will set new benchmarks with its global styling and unmatched road presence,” he further added. Tata Motors on Thursday launched its first

platform, and Range Rover Velar from Jaguar Land Rover India are set to be launched next month. Others including Mahindra and Mahindra and Toyota Kirloskar Motor are set to launch their facelifts of some existing models. Although, the new launches are coming at a time when fuel prices are higher and the GST Cess on some automobiles categories have made car purchasing expensive.

HONDA’S MOST EXPENSIVE BIKE,

MEET

COMING TO INDIA SOON Pictures of Honda’s 2018 Gold Wing, set to be unveiled next month, have been leaked on the internet. If all were to go according to Honda’s plan, the new Gold Wing was set for a global debut just ahead to the Tokyo Motor Show. And since they have leaked on the internet anyway, here’s what we could decipher on what to expect and not to expect with Honda motorcycles legendary flagship cruiser.

irst off, the flat-six engine 1800 cc engine seems to have been retained, but that’s about as much as has been retained. The new girder front suspension system replaces the old telescopic forks. Now, this should make the massive Goldwing, which is nothing short of a recliner with a 1800cc motor, easier around corners. The motor will get the DCT treatment in terms of transmission, although if one was to consider the Africa Twins DCT be any kind of benchmark we are sure that the Honda Goldwing DCT will be bang on. Interestingly some patent applications would have us believe that Honda has given the GoldWing a reverse gear. If that sounds strange to you, you’ve probably never needed to 407 kg (wet weight) Honda Goldwing out of a tight spot in traffic. That considered it may well be Honda’s USP trump card for the new Goldwing. It is likely to be fully-automatic however according to the images, we see that Honda might offer a semi-

automatic shifter kit with it like on the Africa Twin. Honda has even gone about addressing the Gold Wing's lack of an electrically-adjustable visor. What seems to be the centrepiece to 2018 Honda Goldwing identity is the new console, or dashboard, there’s a

We also suspect that the Goldwing will get electronically adjustable, semi-active suspension. If that sounds, a bit aggressive, there is a good reason for it, Honda’s Goldwing has traditionally been the most sci-fi motorcycle on earth. Think of it as half a ton of wonderful Honda R&D.

large central display that suggests and tank mounted control unit that would not feel out of place on the centre console of a luxury sedan. Although the presence of the centrally mounted controls would suggest the absence of a touchscreen. We also suspect that the Goldwing will get electronically adjustable, semi-active suspension. If that sounds, a bit aggressive, there is a good reason for it, Honda’s Goldwing has traditionally been the most sci-fi motorcycle on earth. Think of it as half a ton of wonderful Honda R&D. Interestingly, Honda does have the GoldWing on sale in India currently and it’s been doing fair numbers, ie for a Rs32 lakh motorcycle. This also means that Honda will probably be bringing the bike to India later next year, although the big question is will we get to see it at the 2018 Auto Expo. Well, we sure hope so! Until we do know, enjoy the pictures. SEASONAL MAGAZINE

HEALTH

Smartphones May Help Curb Depression Depression is a serious mental disorder and may require prolonged treatment just like any physical ailment.

new study, published in the journal World Psychiatry, indicates that smartphone apps can help in treating depression. The results of the study show that smartphones open up nonstigmatising and self-managing avenues of care for people with depression. Smartphones can help them monitor, understand and manage their own mental health. According to lead author Joseph Firth, postdoctoral research fellow at Australia's National Institute of Complementary Medicine (NICM), "The majority of people in developed countries own smartphones, including younger people who are increasingly SEASONAL MAGAZINE

affected by depression.â&#x20AC;? Firth added, "Smartphone devices may ultimately be capable of providing instantly accessible and highly effective treatments for depression, reducing the societal and economic burden of this condition worldwide.â&#x20AC;?

The team suggests that these apps can be used as an "integrative medicine" approach and can be particularly useful for improving mood and tackling symptoms in patients.

Researchers have found that these apps are not from cognitive behavioural therapy or mood monitoring programmes in terms of application of principles of mindfulness. The team suggests that these apps can be used as an "integrative medicine" approach and can be particularly useful for improving mood and tackling symptoms in patients. For the study, the team reviewed 18 randomised controlled trials which examined a total of 22 different smartphones-delivered mental health interventions. The studies involved more than 3,400 male and female participants between the ages of 18-59.

SOCIETY

AS CENTRAL & STATE GOVERNMENTS MINT MONEY ON FUEL, THE BURDEN IS ON THE MASSES

Amid protests against the recent spike in petrol and diesel prices, Union Petroleum Minister Dharmendra Pradhan has ruled out the possibility of an end to the recently introduced policy of revising fuel prices daily.

companies, whose operating margins have naturally improved since deregulation. Taxes are the main culprit stopping petrol and diesel prices from reflecting the fall in international crude oil prices. About half the retail price paid by consumers for petrol and diesel goes towards paying the excise duty and the value added tax imposed on them. These taxes increase the price at which oil companies can profitably sell essential fuels to consumers, thus

ince June 16 this year, petrol and diesel prices across the country have been revised on a daily basis, against the previous policy of revising prices every fortnight. By opting for daily pricing, India has joined advanced countries like the United States and others which follow the practice. The daily pricing policy is in line with the governmentâ&#x20AC;&#x2122;s efforts over the years to deregulate the pricing of essential fuels. The prices of petrol and diesel were first deregulated in 2010 and 2014 respectively, bringing in the practice of fortnightly revision of prices. The new daily pricing policy, the government argues, will now allow oil marketing companies such as Indian Oil, Bharat Petroleum Corporation, and others to price their products even better, that is, in accordance with their fluctuating input costs. The oil companies need not wait a fortnight to change prices, and it is believed that this would allow them to quickly pass on the benefit of lower crude oil prices to retail customers. Also, daily price revisions will reduce the risk of huge revisions in prices, which is more common under the fortnightly pricing policy. The daily pricing policy has been blamed in recent weeks for the sharp increase in petrol and diesel prices. Fuel prices fell in the initial days after the implementation of the new policy, but have seen a sharp acceleration ever since. The price of petrol in metro cities like Delhi and Kolkata, for instance, has risen by more than Rs.5 since the introduction of daily pricing. The government has blamed supply constraints due to floods in the United

states for the present rise in prices. A wider criticism, however, is that domestic fuel prices have also failed to match the drastic fall in international crude oil prices over the last few years. Petrol, for instance, sold at a retail price of Rs.65 in 2012 when the price of the Indian crude oil basket was around $120. Today, even as the price of crude oil has dropped by more than half to hover around $50, the retail price of petrol stands at well over Rs.70. The surprising divergence in the cost of crude oil and domestic fuel prices has caused a lot of anger. What is being missed is the fact that fuel prices are determined by market forces, not costs. So lower crude oil prices need not necessarily lead to lower fuel prices. Costs only determine the profits of oil

restricting supply and keeping prices high. Taking on the Oppositionâ&#x20AC;&#x2122;s criticism, Finance Minister Arun Jaitley recently dared the States ruled by the Congress and the CPI(M) to reduce VAT on petroleum products and forgo their share of the Centreâ&#x20AC;&#x2122;s revenue from fuel taxes. He said 42% of the Central tax receipts from petrol go to the States. Mr. Pradhan has called for petrol and diesel to be brought under the GST to lower the tax burden. This will help bring down their prices, but only when it is combined with better competition in the oil sector. Otherwise, lower taxes will merely improve the profits of oil companies without any of the benefits, whether it is lower crude oil prices or any other fall in input costs, being passed on to consumers. SEASONAL MAGAZINE

SPACE

Inside One of NASA’s Most Challenging Missions NASA’S ASTEROID SAMPLE RETURN MISSION, OSIRIS-REX (ORIGINS, SPECTRAL INTERPRETATION, RESOURCE IDENTIFICATION, AND SECURITY – REGOLITH EXPLORER), PASSED ABOUT 11,000 MILES (17,000 KILOMETERS) ABOVE EARTH JUST BEFORE 12:52 P.M. EDT ON FRIDAY, SEPT. 22. USING EARTH AS A SLINGSHOT, THE SPACECRAFT RECEIVED AN ASSIST TO COMPLETE ITS JOURNEY TO THE ASTEROID BENNU. OSIRIS-REx is undertaking a challenging mission to visit the near-Earth asteroid, survey the surface, collect samples and deliver them safely back to Earth. This is the first NASA mission to attempt such an undertaking. The spacecraft is halfway through its two-year outbound journey, and now OSIRIS-REx needs an extra boost to successfully rendezvous with Bennu. Bennu’s orbit around the Sun is tilted six degrees in comparison to Earth’s. The gravity assist will change OSIRISREx’s trajectory to put the spacecraft on a course to match the asteroid’s path and speed. “The Earth Gravity Assist is a clever way to move the spacecraft onto Bennu’s orbital plane using Earth’s own gravity instead of expending fuel,” said Dante Lauretta, OSIRIS-REx principal investigator at the University of Arizona, Tucson. The team has already made multiple adjustments to the spacecraft’s path since launch on Sept. 8, 2016. The largest was a deep space maneuver on Dec. 28, 2016, that changed the speed and path of the spacecraft to target Earth for the flyby. There have also been three trajectory correction maneuvers – one on Oct. 7, 2016, one on Jan. 18, 2017, and another on Aug. 23, 2017 (30 days before the gravity assist) – that further refined the spacecraft’s trajectory in preparation for the flyby. The navigation team comprises employees from NASA’s Goddard Space Flight Center in Greenbelt, Maryland, and KinetX Aerospace. KinetX AeroSEASONAL MAGAZINE

space navigation team members plan and carry out all OSIRIS-REx maneuvers with the Lockheed Martin spacecraft operations team at the Lockheed Martin Waterton Campus in Littleton, Colorado. To properly target the Earth Gravity Assist, the navigation team calculates any required amount of change in the spacecraft’s course and speed. This information is then translated by the operations team into commands that are uploaded to the spacecraft and executed by firing the spacecraft’s rocket engines.

NASA had taken precautions to ensure the safety of the spacecraft as it flies through this area. The mission’s flight dynamics team had designed a small maneuver that, if necessary, could be executed a day before closest approach to change the spacecraft’s trajectory slightly to avoid a potential collision between OSIRIS-REx and a satellite. “A few weeks after the flyby we will assess the outgoing trajectory on its way to Bennu,” said Dan Wibben, the ma-

After traveling almost 600 million miles, OSIRIS-REx approached Earth at a speed of about 19,000 mph. The spacecraft flew over Australia before reaching its closest point to Earth over Antarctica, just south of Cape Horn, Chile. “For about an hour, NASA was out of contact with the spacecraft as it passed over Antarctica,” said Mike Moreau, the flight dynamics system lead at Goddard. “OSIRIS-REx uses the Deep Space Network to communicate with Earth, and the spacecraft will be too low relative to the southern horizon to be in view with either the Deep Space tracking station at Canberra, Australia, or Goldstone, California.” NASA regained communication with OSIRIS-REx at 1:40 p.m. EDT, roughly 50 minutes after closest approach. At 4:52 p.m. EDT, four hours after closest approach, OSIRIS-REx began science observations of Earth and the Moon to calibrate its instruments. During the gravity assist, OSIRIS-REx passed through a region of space that is inhabited by Earth-orbiting satellites, and

neuver design and trajectory analysis lead from KinetX Aerospace. “There is a maneuver planned in case we need to adjust the orbit just a little bit to push the spacecraft back on track.” In late June of 2018, the team will perform another deep space maneuver to further target the rendezvous with Bennu. Then beginning in October

2018, a series of asteroid approach maneuvers will be executed to slow the spacecraft with respect to the asteroid. Once OSIRIS-REx rendezvous with Bennu in late 2018, the spacecraft will begin surveying the surface. “The asteroid’s small size and low gravity makes OSIRIS-REx the most challenging mission that I have worked on,” said Peter Antreasian, the navigation team chief from KinetX Aerospace. “At roughly 500 meters in diameter, Bennu will be the smallest object that NASA has orbited.” NASA’s Goddard Space Flight Center provides overall mission management, systems engineering and the safety and mission assurance for OSIRIS-REx. Dante Lauretta of the University of Arizona, Tucson, is the principal investigator, and the University of Arizona also leads the science team and the mission’s science observation planning and data processing. Lockheed Martin Space Systems in Denver built the spacecraft and is providing flight operations. Goddard and KinetX Aerospace are responsible for navigating the OSIRIS-REx spacecraft. OSIRISREx is the third mission in NASA’s New Frontiers Program. NASA’s Marshall Space Flight Center in Huntsville, Alabama, manages the agency’s New Frontiers Program for its Science Mission Directorate in Washington.

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HEALTH it simply feed commercial and nonmedical interests?

BEHIND INDIA'S CAESAREAN BOOM

The number of c-section deliveries in India has more than doubled in the past decade, going up from 8.5% of the total births in 2005-06 to 17.2% in 2015-16. Every year, as many as 6.6 million babies – a figure equivalent to Ireland’s population – are born in India through caesarean-section (c-section) surgery.

he number has more than doubled in the past decade, going up from 8.5% of the total births in 2005-06 to 17.2% in 2015-16. During the same period, institutional deliveries – births at hospitals, health centres and clinics – also doubled from 38.7% to 78.9%, data released by the National Family Health Survey-4 in 2017 shows. “C-sections are effective in saving maternal and infant lives, but only when required for medical reasons. At the population level, c-section rates higher than 10% do not lower mother and newborn deaths,” said the World Health Organisation (WHO) on csection in 2015, after a systematic review of scientific literature. Globally, 18.6% of all births occur through c-section surgery, ranging from 6% in less-developed to 27.2% in more-developed regions, data from 150 countries till 2014 shows. The c-section rate worldwide increased by 12.4% (from 6.7% to 19.1%) between 1990 and 2014. So, are instances of c-section surgery rising because it minimises chances of birth complications (such as preterm births and cephalic, breech or transverse foetal presentations) or does SEASONAL MAGAZINE

To introduce transparency, the Central Government Health Scheme (CGHS) plans to ask all empanelled hospitals and clinics to display their c-section rates prominently at reception counters. If hospitals don’t comply, they will risk losing CGHS empanelment and, with it, several thousands of CHGS beneficiaries whose treatment is paid for by the government. The most common medical causes for c-section are large or premature babies, routine repeat caesareans, nonprogressive labour, breech presentation, foetal distress, prematurity, in-vitro fertilisation, and late age of conception. (Shutterstock) C-section rates in rural India (12.9%) are closer to WHO

TO INTRODUCE TRANSPARENCY, THE CENTRAL GOVERNMENT HEALTH SCHEME (CGHS) PLANS TO ASK ALL EMPANELLED HOSPITALS AND CLINICS TO DISPLAY THEIR C-SECTION RATES PROMINENTLY AT RECEPTION COUNTERS. recommendations, but its urban count – 28.3% – is nearly three times that. The rates hover around 50% at many private tertiary-care hospitals in Indian cities. Tertiary medical institutions such as the All India Institute of Medical Sciences and district hospitals across the country show higher c-section rates than the population average because complicated pregnancies are often referred there. “At the institution level, low c-section rates are often not the best indicator of quality and ethical healthcare because states with the worst public health infrastructure often have the lowest rates. They simply don’t have the infrastructure or human resources to conduct c-section deliveries,” says Dr Neerja Batla, professor of gynaecology and obstetrics, All India Institute of Medical Sciences (AIIMS).

A substantial number of emergency csection cases are referred to other medication institutions even from the AIIMS-run government hospital (Comprehensive Rural Health Services Project) at Ballabhgarh in Faridabad because it has no anaesthetist on weekends. The most common medical causes for c-section are large or premature babies, routine repeat caesareans, nonprogressive labour, breech presentation, foetal distress, prematurity, in-vitro fertilisation, and late age of conception. “Technology capable of monitoring foetal distress has made it possible to save babies as young as 25 weeks. The priority of doctors is to safeguard the mother and child in the safest way possible,” says Dr Rishma Pai, president, Federation of Obstetricians and Gynaecologists of India. In 2015, WHO recommended the Robson classification system as the global standard for assessing, monitoring and comparing c-section rates at healthcare facilities to ensure that it is performed only for medical reasons. “C-section rates at private hospitals and clinics are often higher than government medical colleges and district hospitals, where junior doctors and post-graduate students are available on a 24x7 basis. Doctors at private centres don’t want to wait around for a natural delivery, which can occur at a time inconvenient to them,” says a health ministry official. Moreover, a large number of private sector doctors visit more than one hospital or clinic – making unplanned deliveries inconvenient. “Opting for a c-section helps them plan their day and also make more money for the hospital,” claims 34-year-old Sailesh Manchanda, who believes his wife’s obstetrician opted for the scalpel even when all her health parameters were normal.

The ministry official shrugs off her objection. “We just want transparency, and what’s best for the mother and child,

“I got a second opinion after my daughter was born, and was told there was no need for a c-section,” says Mandhanda, whose daughter – Siya – is now five. His second child, Nimish, had a natural birth at a different hospital earlier this month. Doctors at private hospital also tend to practise “defensive obstetrics”, where litigation fears make them choose to deliver the baby through surgery at the first sign of trouble. “If the baby is born with a birth-related defect, who will be held responsible? This is about human life, and the quality of life cannot be compromised,” says Dr Pai, who differs with the government on forcing hospitals to display c-section rates. “Such a step may pressurise some hospitals to reject complicated pregnancies.” The ministry official shrugs off her objection. “We just want transparency, and what’s best for the mother and child,” he says. Following a UK Supreme Court judgment in 2015 that compensated a baby who suffered brain damage during a vaginal birth inadvisably conducted on a woman with diabetes and a small pelvis, all doctors are officially required to warn expectant mothers on the risks posed by both c-section and natural births. Some of them pick c-section in the hope of avoiding labour pain. “Conducting c-section by saying that the mother wanted one is no excuse. Doctors have to inform her that epidural anaesthesia makes delivery painless,” says Dr Batla. Incidentally, surgery comes with its own risks – anaesthesia complications, infections, haemorrhage, scarring, injury to other organs, increased chances of respiratory distress, and the likelihood of the baby contracting autoimmune diseases and allergic ailments. Csections also delay mother-newborn bonding and breastfeeding, and increase the chances of repeat caesareans for subsequent deliveries. Dr Batla says charging the same amount for c-sections and natural deliveries is one way to build trust. “Some hospitals are already doing that to dispel suspicions of medical profiteering,” he adds. SEASONAL MAGAZINE

HEALTH

Uber Under Fire

Uber will lose its licence to operate in London because it may be endangering public safety and security, according to a UK regulator, in a blow to a company facing questions over its corporate culture. The company, which has been beset by a litany of scandals over its management style — from accusations of sexism to the illegal use of software to trick regulators — was told it was not “fit and proper” to keep operating in London, where it has 3.5 million passengers and 40,000 drivers. The regulator, Transport for London, said it “considers that Uber’s approach and conduct demonstrate a lack of corporate responsibility in relation to a number of issues which have potential public safety and security implications.” Uber has been facing legal and administrative challenges in Europe and other parts of the world since it began operations in 2012. Here is a list of Uber’s mounting troubles across the world this year: n January 28, after President Donald Trump releases his first executive order on immigration, New York taxi drivers protest by refusing to pick up passengers at Kennedy Airport for an hour. Some protesters say Uber tries to capitalise on the protest by picking up passengers anyway, prompting a Twitter protest urging people to delete Uber’s app from their smartphones. On February 1, Uber CEO Travis Kalanick was forced to step down from President Donald Trump’s economic advisory council that he had joined in December, under pressure from employees who wondered why he was still willing to advise the President. On February 19, former employee SEASONAL MAGAZINE

Susan Fowler, in an explosive revelation on her blog, claimed that she and other female staffers had been subjected to sexual harassment at Uber; and when she reported the situation to HR and upper management, all she got was indifference. She was reportedly told that nothing could be done about the Manager who she accused because he “was a high performer”. Kalanick tweeted his response calling the behaviour described in her blog post “abhorrent & against everything we believe in” and promised that “anyone who behaves this way or thinks this is OK will be fired.” On February 21, it was announced that Uber had hired former US Attorney General Eric Holder to conduct a review

of the sexual harassment claims. Arianna Huffington, who joined Uber’s board last year, Liane Hornsey, Uber’s chief human resources officer, and Angela Padilla, the company’s associate general counsel, were also to help conduct the review. Many criticised this as well, wondering at the efficacy of an enquiry conducted by people from within the company. On February 23, Google-owned Waymo sued Uber for stealing its selfdriving car technology. The case accuses Anthony Levandowski, a former top manager for Google’s self-driving car project, of stealing pivotal technology that is now propelling Uber’s effort to assemble a fleet of autonomous vehicles for its ride-hailing service. On February 24, venture capitalists Mitch and Freada Kapor, early investors in Uber, publicly criticised the firm for failing to end a toxic culture of harassment. “Uber has had countless opportunities to do the right thing?,” they wrote. “We feel we have hit a dead end.” On February 28, a senior executive at Uber, Amit Singhal, was asked to leave the company for failing to disclose a sexual harassment allegation stemming from his tenure at Alphabet Inc’s Google

On March 1, the company’s CEO Travis Kalanick got into an argument with his Uber driver. In a dashcam video published by Bloomberg News, Kalanick was seen arguing with his Uber driver over the company’s treatment of drivers. After a conversation about policies at Uber, Kalanick ends the conversation by saying: “Some people don’t like to take responsibility for their own shit. They blame everything in their life on somebody else. Good luck!”. On March 3, The New York Times reveals that Uber used a phony version of its app to thwart authorities in cities where it was operating illegally. Uber’s so-called Greyball software identified regulators who were posing as riders and blocked access to them. The US Justice Department is investigating Uber’s use of the Greyball software. In March, Uber said it planned to withdraw from Denmark after the country passed a new taxi law that required ride-hailing services to install fare meters and meet other requirements. He later apologised in an email sent to all employees of the company. In April, a Rome court banned unlicensed ride-hailing services such as Uber, but the ban was short-lived after the company appealed to a higher court. Uber does not operate in Milan after a 2015 ruling against UberPOP that the smartphone app represented “unfair competition” to taxis. In May, a non-binding legal opinion by a legal adviser to Europe’s top court found Uber to be a transportation service, not just an online app, exposing it to further local regulation across the region. On June 6, Uber fires 20 people after a law firm, Perkins Coie, investigates complaints of harassment, bullying and retaliation. That investigation, which was separate from Holder’s, checked into 215 complaints; 57 are still under investigation. On June 13, Kalanick tells Uber employees that he’s taking a leave for an unspecified period, but will be available for “the most strategic decisions.” Uber’s board releases Holder’s recommendations, which include removing some of Kalanick’s responsibilities and replacing Uber’s chairman and founder, Garrett Camp, with an independent chairman. Holder also recommends many cultural and policy changes, from establishing an effective complaint process to recruiting more diverse applicants to prohibiting alcohol and drug use during core work hours. On June 20, Uber embarks on “180 days of change,” seeking to persuade riders and investors that it is a company with a conscience and a heart. The first move was allowing riders the ability to give drivers tips through the Uber app, something that Kalanick had resisted. Details of the rest of the plan were not made public. On June 21, CEO Travis Kalanick resigns under pressure from investors and the board. He will stay on as a board member.

4 Lakh People Sign Petition in Support of Uber Over four lakh people have signed a petition calling on Londoners to save Uber, a day after the US-based ride-hailing app firm lost its licence to operate on the streets of the UK's capital. In a big blow to Uber, London's transport regulator announced on Friday that it will not renew the taxi company's licence, citing "public safety and security implications".More than 460,000 signatures have been added to Uber's petition on Change.org titled "Save Your Uber in London" as the company prepares to appeal against the decision. "If this decision stands, it will put more than 40,000 licensed drivers out of work and deprive millions of Londoners of a convenient and affordable form of transport. This decision is affecting the real lives of a huge number of honest and hard-working drivers in London," the petition reads. "The 3.5 million Londoners who rely on Uber to get a safe, reliable and affordable ride around the best city in the world will be astounded by the decision to ban Uber from the capital," it said. Transport for London (TfL), chaired by London mayor Sadiq Khan, had announced that it will not to renew Uber's Operator Licence when it expires on 30 September as it was not a "fit and proper" operator. "TfL has concluded that Uber London Limited is not fit and proper to hold a private hire operator licence. Uber's approach and conduct demonstrate a lack of corporate responsibility in relation to a number of issues which have potential public safety and security implications," TfL said in a statement. TfL's concerns include Uber's approach to carrying out background checks on drivers and reporting serious criminal offences. "I fully support TfL's decision - it would be wrong if TfL continued to license Uber if there is any way that this could pose a threat to Londoners' safety and security," Khan said. The petition will be delivered to him calling for a reversal of the ban once it hits 500,000 signatures. The company's current licence expires on 30 September. Under the UK's Private Hire Vehicles Act of 1998, Uber now has 21 days to appeal and can continue to operate until that process expires. The California-based company, which was founded eight years ago, has been facing intense criticism in the UK over claims that it unfairly skews competition and that it has not done enough to crack down on incidents of violence involving its drivers. Uber chief executive Dara Khosrowshahi stepped up Uber's response when he appealed on Twitter to Londoners to "work with us" to resolve the issue. Khosrowshahi, who took over recently to revive the company's image after a string of worldwide scandals, tweeted: "Dear London: we r far from perfect but we have 40k licensed drivers and 3.5mm Londoners depending on us. Pls work w/us to make things right". TfL has said Uber can operate until the entire appeals process ends, which could take months. London's traditional black cab drivers have attacked Uber, saying it has undercut safety rules and threatened their livelihoods. Uber has also been criticised by unions and MPs over workers' rights. The company has already been forced to leave several countries, including Denmark and Hungary, and has faced regulatory battles in multiple US states and countries around the world. SEASONAL MAGAZINE

HEALTH

GOVERNMENT EXTENDS INTEREST SUBSIDY ON MIG HOME LOANS TILL MARCH 2019 The central government has announced that the benefit of interest subsidy of about Rs2.60 lakh on home loans under Pradhan Mantri Awas Yojana (Urban) will now be available for beneficiaries belonging to Middle Income Groups (MIG) fir 15 more months beyond December this year.

urga Shanker Mishra, secretary (housing and urban affairs), announced this while addressing the 'Real Estate and Infrastructure Investors Summit' organised by NAREDCO, in Mumbai recently. He said the government has decided to give more time for MIG beneficiaries to avail interest subsidy under PMAY (Urban). Prime Minister Narendra Modi, in his announcement on the 31 December last year had made applicable the Credit Linked Subsidy Scheme (CLSS) under PMAY (Urban) to MIG, till the end of December this year. Under CLSS, MIG beneficiaries with annual income of above Rs6 lakh and up to Rs12 lakh would get an interest subsidy of 4 per cent on a 20 year loan component of Rs9 lakh. Those with annual exceeding Rs12 lakh and up to Rs18 lakh would get interest subsidy of 3 per cent. SEASONAL MAGAZINE

Reiterating the government's commitment to meet the `Housing for All' targets in urban areas by 2022, Mishra urged private investors to invest in affordable housing, being promoted by the Government in a big way with several incentives and concessions. Mishra later held an hour-long discussion with a 30-member delegation of NAREDCO and assured them that the government would look into various issues raised by them in all sincerity and possible interventions would be considered. The delegation referred to

The delegation expressed concern over GST and other taxes accounting for over one third of the cost of residential properties.

what they called anomalies in GST rates for completed and under construction housing projects, stamp duties being higher and kept outside the purview of GST, scarcity of land, delays in granting construction permits, lack of coordination among different municipal agencies, RBI's high risk weightage for lending to real estate sector despite Real Estate Act coming into force, inadequate bank financing despite non-performing assets in respect of construction being much less than other sectors etc. The delegation expressed concern over GST and other taxes accounting for over one third of the cost of residential properties. Minister of housing and urban affairs Hardeep Singh Puri, who addressed the summit yesterday suggested to NAREDCO to have a detailed discussion with secretary (HUA) for resolving the issues so that affordable housing could be given a boost.

HEALTH

Try These Mood Elevating Foods Depression is a serious mental disorder and may require prolonged treatment just like any physical ailment. But there are some natural ways to curb depression. You are what you eat and your diet can play a crucial role in maintaining mental health. Try to include these foods in your daily diet to curb symptoms of depression. 1. Complex carbohydrates: Include foods that are rich in complex carbs in your diet like whole grains and brown rice. A lot of studies have shown that low carb diets have been linked to nervousness, anxiety,

decreased concentration and insomnia. 2. Vitamin D: A deficiency of this nutrient if often linked with mood swings and depression. Add natural sources of Vitamin D like mush-

rooms, eggs and soy milk to your diet. 3. Antioxidants: Antioxidants can help in reducing the oxidative stress on your mental health. Berries and foods like cherries, grapes and dark leafy greens are your best bet. 4. Good quality proteins: Protein rich foods are known to boost alertness. Some of them contain an amino acid called tryptophan which helps your body make the mood boosting brain chemical, serotonin. Peas, beans, soya, lentils and paneer are good options and so are chicken and fish. These healthy foods can really help in lifting your mood and making you feel better. SEASONAL MAGAZINE

NEW INDIA ASSURANCE IPO

WHEN THE PRIME PUBLIC INSURER GOES FOR ITS PUBLIC ISSUE Government has well-chosen the largest general insurer, New India Assurance, to be the flag bearer in insurance IPOs. NIA is also a diversified non-life player with the right balance between core segments like auto and health. Moreover, NIA has been growing its gross written premium and net profits impressively. However, challenges include a fragmented market with its marketshare being limited to 16%, and a profit growth that relies on investment income, to overcome NIA’s still loss-making core underwriting business which continues to be an industry bane, despite government allowing 100% hike in one of the largest segments, automobile third-party business. Estimated to be at around Rs.10,000 crore, New India Assurance Company’s IPO is set to be one of India’s largest public offerings ever. Seasonal Magazine takes a look at the pros and cons of this IPO from the investors’ angle.

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Government has well-chosen the largest general insurer, New India Assurance, to be the flag bearer in general insurance IPOs. However, despite being the largest player in non-life insurance, NIAâ&#x20AC;&#x2122;s market share has reduced over the

long-term to just 16%. While Government has initiated this IPO also on the grounds that NIA would command a premium due to its market leadership, how far the market will weigh this 16% leadership remains to be seen.

NIA is an adequately diversified non-life player with the right balance between core segments like auto and health. But this primary underwriting business of NIA is still lossmaking. This is despite Government allowing nearly 100% hike in automobile

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third-party premiums recently, to save public sector general insurers like NIA, even by giving an unpleasant jolt to the Indian public. Coming to the other core segment of health cover, India is a country where not only the cost of healthcare is prohibitive for the masses, but even the cost of health insurance. General insurance companies like NIA are currently finding it challenging to make the cost of health insurance viable to the country's masses. However, to its credit, NIA has been growing its gross written premium and net profits impressively. For shoring up its bottomline, the public sector general insurance major is, however, over-relying on investment income. Post the IPO, this can be a headache for NIA, as reliance on the short-term fickleness of stock market isn’t viable for a listed firm reporting to its public investors from quarter to quarter. The timing of NIA’s IPO is

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also challenging in this aspect, as the stock market has already run up a lot, and short-term income from investments is expected to be inferior for large investors like NIA, going forward. This might make the IPO less attractive for many investors who are looking at NIA’s probable FY’18 numbers. In a deeply fragmented market, each player’s market share is expected to dwindle further, especially of larger players like NIA, when private players make inroads into their traditional domains. Also, general insurance has been made a commodity business in India, with near uniform rates and near uniform services, as prescribed by IRDA. In such an environment, there is practically no differentiation that NIA can highlight while going public. Also, there is a general perception in the market that most of the middle to senior officers in the public sector general insurers are too handsomely paid for practically easy business that flows in due to these four companies’ early mover advantage.

With employee compensations a sticky issue for listed companies, this will prove to be a challenge that NIA needs to address swiftly. Lastly, NIA’s public sector competitors have been moving aggressively on the agents front, while its private sector peers have been focusing on tech-led channels and bancassurance models. NIA will have to innovate drastically or stand to lose market share further in this scenario. Queries to NIA’s CMD regarding various points raised in this article were not answered even after repeated requests.

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FOLLOW-ON GLORY? PUNJAB NATIONAL BANK FPO

IS PUNJAB NATIONAL BANK, ONE OF THE LARGEST PUBLIC SECTOR BANKS IN THE COUNTRY EMERGING THROUGH A ‘U’ SHAPED RECOVERY IN FORTUNES? WHILE THE TURNAROUND SEEN IN FY’17 HAS HELD ITS GROUND IN RECENT Q1 NUMBERS, RBI’S RECENT RATECUT AFTER ALMOST A YEAR IS A POSITIVE FACTOR, AND THE BANK IS GETTING READY WITH A SIGNIFICANT EQUITY RAISE OF RS. 3000 CRORES THROUGH A FOLLOW-ON PUBLIC OFFER (FPO), QUALIFIED INSTITUTIONAL PLACEMENT (QIP), OR RIGHTS ISSUE.

fiscal 2016 was the year in which Punjab National Bank cleaned up its books due to the unprecedented NPA crisis in the banking system, FY’17 has gone down in its history as the year in which PNB effected an emphatic turnaround, bouncing back to profits. Now with results for Q1 of FY’18 coming in, PNB has effectively silenced anyone wondering whether the turnaround would be sustainable. The public sector bank has seen a rise in net profit of 12% on year-on-year basis, while on quarter-on-quarter basis, bottomline has surged by 31%, signalling that the turnaround seen in FY’17 is strengthening. The core lending business, signified by Net Interest Income (NII) has risen by SEASONAL MAGAZINE

over 4% on both YoY and sequential basis, at a time when corporate credit growth in the country is at near standstill. Driving the performance was slightly better asset quality. PNB has been one of the most affected banks in the on-going NPA crisis since 2009. In Q1, Gross NPAs in percentage terms were at 13.66% compared to 13.75% in Q1FY17. Provisions for non-performing assets (NPAs) saw decline of 19.14% to Rs 2,559.71 crore in Q1 as against Rs 3,165.67 crore in the similar period of the previous year. Provision coverage ratio as on June 30, 2017 stands at 58.23%. PNB is a large sized bank in the country with total deposits reaching Rs 6,25,616.11 crore in Q1, up 12.93% from Rs 5,53,952.20 crore in Q1FY17. Advances increased by 2.08% at Rs

Sunil Mehta Non-Executive Chairman

Sunil Mehta Managing Director & Chief Executive Officer

3,99,749.84 crore in Q1, compared to Rs 3,91,574.24 crore a year ago same period. Clearly, the bank is cautiously getting back to a growth mode, hinging on its newfound flair in retail business. The stock has already run ahead of the performance, with investors sitting on two-yearly gain of over 100%. However, much more needs to be done by the PNB management to bring back the bank to its past glory, when itâ&#x20AC;&#x2122;s stock traded at 43% higher than current level, back in 2010. Now, the Board of Directors of Punjab National Bank has recently given its approval for a capital raise of up to Rs. 3000 crores, through suitable instruments like a Follow-on Public Offer (FPO), Qualified Institutional Placement (QIP), Rights Issue, or a combination of all three. Boosting employee motivation, PNB is also mulling an ESOP program. The plan to raise equity wouldnâ&#x20AC;&#x2122;t have come at

a more appropriate time for multiple reasons. Firstly, Indian markets have been hitting fresh all-time highs, with Sensex breaching the 32,000 mark and the Nifty the 10,000 level. Secondly, RBI has reduced interest rate by 0.25% to 6% in its August 2nd review, which is a reduction after almost a year. PNB is also in secure hands now, with two veteran bankers, interestingly sharing the same name, at the helm. Non Executive Chairman Sunil Mehta is a Fellow Chartered Accountant and an alumni of the Wharton School of Management, USA, having 33 years of experience in Citibank and AIG. MD & CEO Sunil Mehta is a Post Graduate in Agriculture, MBA in Finance, and a Certified Associate of Indian Institute of Bankers (CAIIB). He is a seasoned banker with over 35 years of experience in various public sector banks including Allahabad Bank, and Corporation Bank where he was Executive Director. SEASONAL MAGAZINE

BANDHAN BANK IPO

PLAYING LIKE THE LEADER IT IS

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When Dr.Rajan gave banking licence to only one private entity in the first round of 2014, and it was Kolkata based Bandhan, it was another feather in the cap for Rajan’s integrity. Because, Bandhan wasn’t just the largest microfinance institution in the country but the most well-run one. And ever since then, Founder, MD & CEO Chandra Sekhar Ghosh has made Bandhan play like the leader it is, having also attracted major investments from international majors like World Bank’s IFC and Singapore’s GIC.

Everything is right on schedule at Bandhan, which announced on its 2nd Anniversary recently, that it is mulling its IPO, to comply with RBI’s statutory requirement. While the bank, which has around 90% business still coming from microfinance, is growing admirably, and diversifying strategically to gold loans, affordable home finance, MSME etc, a formidable challenge on the horizon is the way its NPAs have jumped in the recent quarter, due to the sentimental impact of farm loan waivers. SEASONAL MAGAZINE

SRM TO DOMINATE HIGHER EDUCATION SCENE IN AMARAVATI As SRM University turns the page on a new chapter in its prolific history, there are very few of its counterparts that can match up to its steady progress. Amaravati, the new capital city of Andhra Pradesh, welcomed its first varsity – SRM University, AP - recently with a splendid inauguration ceremony graced by the Chief Minister of Andhra Pradesh, N Chandra Babu Naidu and Union Information and Broadcasting Minister, M Venkaih Naidu. The Chief Minister reiterated his commitment for the comprehensive development of Amaravati and heaped praise on SRM University’s contribution to the same. “I am sure within a span of five years, SRM University with 10,000 students would be a top ranked world class university, with multi stream research in the fields of engineering to management, liberal arts & humanities to law, medicine to health sciences to make Amaravati recognized by foreign countries as the best educational hub of the globe”, said Mr. Naidu.

SRM University is focusing on establishing a multi-stream research University having the faculties of engineering and technology to start with. The new campus has reportedly enrolled 240 students to its various engineering courses. From engineering to medicine and from liberal arts to management, SRM has an ambitious plan to be in the top world class universities in ten years with 20000+ students and 1500 faculty members. The campus is based in sprawling 200 acres of land and it will be globally connected whilst being regionally transformative. With SRM University's long-term goal of achieving a pan-India presence picking up steam, the future of self-financing private institutions in India seems promising. Perkins and Will, American architects who have designed some of the leading universities in the world, are the architects for this new institution. Perrett Laver and Society, global search firms from UK, are involved in the recruitment of senior leadership roles and faculty. When it comes to professional development of students, SRM University, Amaravati is presently setting up partnerships with world renowned universities especially from the US, the UK and Singapore. This isn’t anything new at SRM University as it is already renowned for SEASONAL MAGAZINE

education. SRM will also be a global partner of the Jacob's Institute for Design engineering and the Sutardja Centre for Entrepreneurship and Technology (SCET). This partnership would establish centers of design, innovation and entrepreneurship at SRM, which would embrace the study and practice of "technology-centric" innovation bringing together technical depth, design methodology, and a focus on societal impact. SRM students and faculty will be provided the opportunity to travel to UC Berkeley to imbibe these ideas. Every year, 20 undergraduate students will be given the opportunity to go to UC Berkeley for a semester to

its semester abroad, dual-degree and twining program with major universities in the world. Under the semester abroad program, the students are allowed to take-up a few courses and/ or a Major project in reputed foreign universities for ONE semester. For its dual-degree programs, SRM has partnered with some of the leading engineering and MBA colleges from across the world including, University of Dayton, University of Warwick, Missouri State University, University of New South Wales etc. The objective is clearly to evolve into a top ranked University with global connections offering relevant programs aimed at societal impact. The university has been one of the pioneers of researchbased education and flexible curriculum thereby fostering a conducive environment for entrepreneurship and innovations. In pursuit of developing this culture of excellence, SRM University AP Amaravati has forged collaborations with the world's best universities, MIT and UC Berkeley College of Engineering, U.S., launching new program with design, innovation, and entrepreneurship focus for the first time in India. SRM has partnered with UC Berkley College of Engineering, California, U.S., to enable bi-directional information exchange in the areas of engineering

study engineering at Berkeley with a defined set of concurrent enrollment and bootcamp courses. "We aim to bring a confluence of international ideas, technological innovation, and social impact, creating an ecosystem of meaningful creation originating at Amaravati and impacting the entire state, nation, and the world.", says Dr. Sandip Tiwari, Cornell University, U.S., and newly appointed

Vice Chancellor of SRM University, AP – Amaravati.

would include a full tuition and hostel fee waiver.

The university will also establish centres of Excellence in Renewable energy, Satellite technology, Internet of Things (IoTs), Blue Economy, Artificial Intelligence (AI) & Machine Learning, Rolls Royce – SRM Corporate laboratory, Jal – Janak Rail energy, and CRISPR for pushing the frontiers of modern technology. “Semester abroad programs and company internships across the world would also be present to create innovators and global leaders.” says Dr. Narayan Rao, Pro – Vice Chancellor of SRM AP.

Having been placed in the highest "A" category by the Ministry of Human Resource & Development, SRM University finds itself regularly featured in India's most reputed ranking lists and acquiring accreditation from official bodies. With accreditations from both the Engineering and Computing Accreditation Commission of ABET and 'A' grade by NAAC, it is only natural that SRM's engineering and IT programs are a major attraction to its prospective students.

The new institute is also offering competitive scholarships to the most meritorious and deserving students in its debut academic year. Students getting an aggregate of 90 percent and above in PCM subjects in CBSE or an aggregate of 95 percent and above in PCM subjects in any state board would be given a 50 percent tuition waiver. Students above 95 percent aggregate in CBSE in the 12th standard are eligible for the Founder's Scholarship which

At over 33,000 students, his SRM

University is one of the largest selffinancing private universities in the country, ahead of even single-campus wonder Lovely, and next only to multicampus phenomenon Amity. Perhaps what should excite prospective students the most is the tie-up with Massachusetts Institute of Technology, USA in the design and development of its curriculum through the use of MITx and MIT OpenCourseWare (OCW)

course material with relevant local content into the courses offered. The SRM faculty will take part in annual design camps to learn techniques to blend MIT course material with relevant local content. This will mainly be for subjects like calculus, electromagnetic theory, classical mechanics and computer programming. These courses will incorporate the concepts of hybrid learning by utilising both traditional and technologically enabled teaching methods. Students would relish the absolute scholastic advantages being a SRMite. “SRM is embracing a new method of learning, not before seen in India. We will emphasise practical and application oriented learning via projects and lab courses rather than monologues that are the typical feature of our classrooms. We would like to create a world class environment for our students here at SRM University and we want to help them create tomorrow. The faculty recruitment has followed a similar strategy with over 90% of the faculty having international academic exposure and all faculty members having PhDs from foreign universities, IITs or IISc. Around 30 faculty members have been appointed across different disciplines and over 20% of the faculty recruited are foreign nationals” said P. Sathyanarayanan, president of SRM University. The university has also signed a MoU with EFREI, one of France’s leading specialized engineering institution, for student and faculty exchange. It is also establishing centres of excellence (CoE) in renewable energy (solar and wind), space technology, Internet of Things (IoTs) and CRISPR. The Centre for Blue Economy, being established at the Amaravati campus, is a one-of-its-kind CoE in the country. Prospective students will get an opportunity to be involved in ambitious projects such as the “Mission to Moon”, “Jal-Janak Rail (Hydrogen Powered Train)” etc. “We live in an increasingly interconnected world that faces challenges and complex problems on a global scale. At the start of the 21st SEASONAL MAGAZINE

century, SRM University is uniquely prepared to tackle these challenges through its breadth of scholarship; its entrepreneurial heritage and pioneering faculty. The era of globalization means many things to SRM: undertaking research and real-world approaches on issues relating to science and technology; exchanging ideas and collaborating with global universities; and providing overseas opportunities for undergraduates and staff alikeâ&#x20AC;? says Dr P. Sathyanarayanan. With Amaravati being refashioned along the lines of a global city with a capital infusion of Rs. 50,000 crores, there is no doubt that it will be a prime investment destination and industrial hub. This will stand to benefit SRM University students who can find ample opportunities to work as interns in nearby companies. This should ensure an easier gateway to find placements with global companies. SRM group of institutions began its journey in 1969 with the setting up of primary school and then upgraded to the status of Matriculation Higher Secondary school in 1981. SRM swiftly expanded its wings to grab the most aspiring disciplines of collegiate education in the fields of engineering, medicine and health sciences, management, pure science, liberal arts and Law. By 2015 SRM was made up SEASONAL MAGAZINE

of three separate Universities: SRM University Chennai, SRM University Haryana and SRM University Sikkim. Now SRM has launched its fourth institution: SRM University, Amaravati, Andhra Pradesh. If money can create a great educational enterprise out of nothing, it is SRM. Its main Kattankulathur Campus in Kancheepuram near Chennai is a 250 acres affair. A central library with vast resources, air-conditioned auditorium that can accommodate over 4,000 people, IT and knowledge management system supporting over 5,000 computer systems and IT applications of the University, 32 megabytes per second internet connection, modern lecture halls & "smart classrooms", wirelessenabled lab and campus, language lab specializing in English, German, Japanese, French & Chinese, are only some of the academic facilities. Support facilities include around 40 Buses - AC & non-AC - that ply regularly between the college and the city, 15 canteens - from fast-food to full-fledged cafeterias spread throughout the campus, retail outlets - Higginbothams book store, Airtel phone booths, Reynolds teller machines, super markets, Reliance Webworld with Java Cafe - all within the campus, a 3-Star SRM Hotel, and prayer halls for all major religions, are only some of the

outstanding features of this 42-block masterpiece design. Though the other campuses at Ramapuram & Vadapalani (both at Chennai), and at NCR are relatively smaller, they too are not behind in offering state-of-the-art amenities. SRM also has extensive and modern hostel facilities, complete with not only South Indian and North Indian cuisine, but with Chinese, Thai, & Continental cuisines for catering to the tastes of its international students. Apart from the modern infrastructural facilities, there cannot be a better marker of an institution than its academic excellence and quality of faculty. This was perhaps well reflected in SRM's case when it became one amongst the 31 Indian universities that made it to the Times Higher Education (THE) World University Ranking. In the Times of India Engineering Institutes Ranking Survey, SRM University is ranked no.1 among the top 75 private engineering institutes in the country. It achieved a stellar no. 5 ranking in the top 150 engineering institutes list and the no. 1 position in the region-wise (South) ranking in the same survey. The university also came 7th in The India Today-Nielsen Survey in the top 10 engineering institutes category.

Karur Vysya Bank inaugurates its first rural Digital Centre KarurVysya Bank inaugur ated its first rural Digital Centre, using state-of-theart technology, in Kathirampatti, an unban ked rural village in Erode Mrs. Narmada Devi, District today.Mrs. Revenue Divisional Officer,Erode inaugurated the Digital Centre and the Aadhaar Enabled Payment System (AEPS).The Digital Centre is part of the Bank’s initiative to empower the rural population to be fully self-sufficient in the financial arena in a cashless environment. Karur Vysya Bank has always been a front runner in providing the best and latest technology to its customers that would make banking easier, faster and safer.With increased emphasis on moving towards a “less cash” economy, Karur Vysya Bank’s focus on providing digital services to its customers has also gained momentum and the bank has launched products like FASTag (for payments at toll plazas) - first Old Private Sector Bank in the country to be approved to provide this service, Bharat Bill Payment System, Unified Payment Interface for P 2 P & P 2 M transactions and Bharat QR. The Bank’s Digital Centre at Kathirampatti is meant to create a digital payment ecosystem for all day to day financial activities in the village. The bank has already brought on board about 57% of the local population by opening their accounts. Six campaigns to sensitize and educate the villagers and the merchants on the use of digital services have also been held. The Digital Centre is provided with a cash recycler machine (which both accepts and dispenses cash) and a pass book printer. Two tablet systems have also been installed in the centre which will enable the customers to perform selfservice banking transactions. They can also use the facility to perform online transactions like train ticket booking, mobile top-ups, bill payments etc.,

The local merchants have been provided with micro ATMs which will enable them to receive payments based on AEPS. A fingerprint reader attached to the micro ATM will recognize the Aadhar enabled bank details of the customer and ensure transfer of funds to the merchant. Also, customers can perform their financial transactions using a feature phone by using the *99# facility or through a smart mobile phone by way of the BHIM / UPI app. The customers or the merchants or both can create a Virtual Payment Address (VPA) and perform both push and pull transactions. VPA is a very secure mode of funds transfer as neither the customer nor the merchant need to share sensitive bank account details. The Rupay based Debit card can also be used in the micro ATMs to make payments. The centre has been provided with a hi-speed wi-fi connectivity not only to take care of the requirements of the digital centres but also to enable the customers to undertake banking transactions through their mobiles. Karur Vysya Bank has also provided a motor pump to lift water to the village

water tank, a solar energy plant to power the motor and an R O plant of 1000 lt. capacity to provide safe drinking water to the village. These facilities were dedicated to the village by Mr. K. Venkataraman, Managing Director and CEO of the bank. Three top rankers of the village in the secondary and higher secondary public examinations were also given cash awards in appreciation of their performance. All this has been done as a part of the Corporate Social Responsibility initiatives of the bank. The bank has 725 branches, 1751 ATMs and 464 Cash recyclers. In addition the bank has 39 ultra-small branches catering exclusively to unbanked rural centres. Further, 117 villages are covered under the business correspondent model. Going forward, the bank intends to expand to more villages with similar digital centres. Mr. K. Venkataraman, MD & CEO, KVB &Directors of KVB, Mr. Sarvashri, Mr. G. Rajasekaran, Mr. A.J. Suriyana rayana, Mr. M.K. Venkatesan, Mr. A.K. Praburaj and Mr. M.V. Srinivasamoorthi participated on behalf of the bank. SEASONAL MAGAZINE

PRIVATE UNIVERSITIES KALASALINGAM UNIVERSITY

THE WAY TO SHAPE YOUR FUTURE Dr. S. Shasi Anand, Director

alasalingam University (Kalasalingam Academy of Research and Education) was established as Arulmigu Kalasalingam College of Engineering (AKCE) in 1984 by Kalasalingam and Anandam Ammal Charities at Srivilliputtur, down south of Tamil Nadu. It was upgraded to the status of deemed University in 2006 (under Section 3 of UGC Act 1956). It spans over a total area of 65 acres and with a built-in area of 21, 59,274 sq metres. The high end equipments and other advanced technology/facilities created in rural setup is a very unique feature of KLU. This has been appreciated by many distinguished visitors to the campus, including the NAAC peer team committee who recently visited and reaccredited the University with “A” Grade (3.11 out of 4) in the year 2015– 2016 and ranked 52nd among top Universities in India by NIRF-MHRD 2016. Kalasalingam University offers 31 UG Engg, Arts and Science programmes, 23 PG programmes, M. Phil, Ph.D programmes and it is the first institution in India to offer the special B.tech program for the speech and hearing impaired persons. A special B.Ed (hearing impaired) for teaching speech and hearing impaired students, approved by RCI, is also offered. Besides, from this academic year, B. Voc (Bachelor in vocational for 3 years) (with full of practicals in industries and the following branches - automobile Mechanism and Maintenance, Software Development, Maintenance of Electrical and Electronics Equipments, Farm SEASONAL MAGAZINE

Equipments and Machinery, Medical Lab – have also started. Three of the UG programmes (B.Tech – BioTechology, Computer Science and Engineering and Electronics and Communication Engineering) are accredited by NBA under Tier – 1. Towards its commitment to impart skill based education and experiential learning, KLU has introduced many unique features in its curriculum viz.,

one credit course through industry experts, theory courses with practical components and laboratory with mini projects. A compulsory course on Community based Project for B.Tech students is offered with the idea to involve students to get a feel of the societal problems and be a part of the solution. Students can take courses through online sources such as NPTEL/Coursera etc which

increases their competency and exposure to learn from experts outside the campus. Innovative M.Tech programmes are introduced such as M.Tech (VLSI Design, Test and Manufacturing) in collaboration with Tessolve, Bangalore, M.Tech (Manufacturing) specially designed for the employees of Tractor and Farm Equipments (TAFE), MBA (Actuarial Science), M.Arch (Habitat Design) and M.Tech (Industrial Safety Engineering) recognized by Government of Tamil Nadu. Kalasalingam University has signed Memorandum of Understanding (MoU) with 21 International Universities for collaboration in academic and research activities and 13 industries for establishing “Advanced Industry Standard Laboratories” in Advanced Technology.

The university also offers certificate and diploma programmes in Fine Arts under the banner of Kalasalingam School of Fine Arts in various branches like Vocal, Veena, Violin, Mridangam and Bharathanattiyam. An in-house IAS academy is also established to offer training to students aspiring for Civil Services. Kalasalingam University has a full-fledged Entrepreneurship Cell actively functioning which is focusing on creating future entrepreneurs. KLU is also continuously strengthening its connection with industries of international repute, with a view to set up many research labs. Cisco Systems have set up Routing and Switching Lab & Wireless Network Lab, IBM has supported the IBM Software Centre for Excellence, ABB has set-up Power Systems Automation Lab. Kalasalingam University has invested Rs.1.5 crore in establishing National Instruments - KLU Innovation Centre through which students and faculty members are trained for obtaining CLAD certification and undertake research projects. In the research front, Kalasalingam University is ranked 7th among all the engineering institutions in India in terms of research by SCIMAGO Institutions Ranking for the year 2014. A total of 15 on-going projects worth Rs.4.4 core from different funding agencies from India and abroad. A total of 43 patents have been filed in the last 2-3 years and total 7 patent rights certificates received in the university. National Centre for Advanced Research in Discrete Mathematics (nCARDMATH), with the funding of more than 3.50 crores with DST is unique, one-of-a-kind centre in the whole of India which has more than 30 collaborators in India and 22 collaborators across the globe. The university is ranked 5th for green environment, awarded by Indonesia International survey. TIFAC-CORE in Network Engineering (TCNE) with the DST funding of Rs. 16.4 crores under MISSION REACH

programme is a unique centre in India to conduct research in networking. The International Research Centre (IRC) is created at an investment of Rs. 2.5 crores to foster interdisciplinary research among all the departments on campus with their counterparts within and outside India. National Cyber Defence Research Centre in association with National Cyber Safety and Security Standards. KLU has initiated research fellowship schemes for full time Doctoral Research with a stipend of Rs. 10,000 to 14,000. In terms of infrastructure facilities, Kalasalingam University stands in the forefront with many special features. Kalasalingam University has 24x7 fully Wi-Fi-enabled campuses. It has 4 Men’s Hostels and 3 Ladies Hostels which are well furnished with facilities of attached bathrooms. The Central Library named after Bibin Chandra Paul is housed in a spacious two storied 101,822sq.ft. airconditioned building with a seating capacity of 500. Video conferencing facility is also added with 150 seating capacity. Kalasalingam University has wonderful sports facilities which include international standard track with 8 Lanes, indoor stadium built up with residential facilities for sports persons, modern gym for both men and women students and an Olympic standard size swimming pool. SEASONAL MAGAZINE

PRIVATE UNIVERSITIES

COMING TOP IN RIGOUR, RESEARCH, &RANKINGS JSS University is accelerating steadily, on an academic approach that is rigorous in that it encompasses not just classroom or lab learning but industry interactions, international seminars, and groundbreaking research. Also on the anvil is a new Rs.2000 crore campus at Mysuru. This top-ranking private university for health sciences in South India is led by a visionary team led by its Vice-Chancellor B Suresh. JSS University is fast emerging as a force to reckon with in the higher education arena. Within a short span of 10 years, the Mysuru-based varsity has already featured prominently in some of Indiaâ&#x20AC;&#x2122;s well-known ranking lists and is poised to continue its remarkable run through its commitment for world class education & investment in realizing its long term vision.

In the inaugural edition of the Karnataka State University Ranking Framework, JSS university recently emerged as the numero uno among the young universities in the state, securing 711 out of 1000 points. The university, founded in 2008, scored high on the parameters of teaching excellence, inclusiveness, research and infrastructure. In the overall NIRF ranking released by the Union Ministry of Human Resource Development, the SEASONAL MAGAZINE

university secured the 74th position among the top 100 institutions in the country. What lends greater credence to this veritable achievement is that it is among only one of the 7 institutes from Karnataka among the top 100. Out of the 52 universities in the state, 42 were evaluated as part of the survey while ranks were allotted to only 38 varsities. In pharma education, one of its core competencies, the university did exceedingly well via its constituent colleges. The JSS College of Pharmacy, Ooty & The JSS College of Pharmacy, Mysuru were ranked 9th and 10th respectively among the pharmacy colleges in the country. JSS university also stands 45th amongst universities in the country in the NIRF. Vice Chancellor, B. Suresh, said the state and national rankings continue to recognize the efforts put in by the young university as an emerging

institution, adopting best practices and providing quality education. He further added that the university has plans to strengthen its infrastructure, attract distinguished faculty, increase international student diversity and international collaborations, besides nurturing social research programmes to be able to move towards international benchmarking. Accredited with A Grade (CGPA of 3.34 out of 4) by NAAC, JSS Universityâ&#x20AC;&#x2122;s Pharm D. programme has been awarded with International Certification by Accreditation Council for Pharmacy Education (ACPE), USA, and becomes the first among the Universities in the Asia Pacific region to achieve this. JSS College of Pharmacy, Mysuru & JSS College of

In the overall NIRF ranking released by the Union Ministry of Human Resource Development, the university secured the 74th position among the top 100 institutions in the country.

Being one of the premier institutes in the health sciences field, JSS university has entered into valuable collaborative initiatives with other universities & organizations. Some of its most significant tie-ups include ones with the National Institute of Health (NIH), USA; Howard University, Washington D.C; AIMST University, Malaysia; University Of Pretoria, South Africa; Oman Medical College Sultanate of Oman; Uppsala Monitoring Centre, Sweden; Latrobe University, Australia; Maastricht University, Netherlands; Khon Kaen University, Thailand; University of North Carolina at Chapel Hill, USA (UNC) etc. In a bid to upgrade its research potential, JSS university has also benefited from tie-ups with organizations & universities at the national level including, NMIMS University, Mumbai; University of Hyderabad; CSIR-CFTRI, Mysore; DRDO, New Delhi; National Institute of Veterinary Epidemiology and Disease Informatics, (NIVEDI) Bangalore etc.

Pharmacy, Ooty have got their B.Pharm program accredited by National Board of Accreditation (NBA). JSS University’s placement drive witnessed a massive intake of its graduates with many students bagging more than one offer letter. Around 350 students have received 436 offers from IT giants such as Accenture, Infosys and Wipro. While the university invests heavily on its students’ research & providing them hands-on training in the corporate environment, there are also plans on organising pool campus recruitment drives to create opportunities for students of other colleges as well. While this would no doubt boost the confidence of all stakeholders involved, the university has set its eyes

on a far grander scheme of things: to emerge as the “most respected university” in Karnataka and to provide meaningful educational transformation to the state’s individuals. True to its mission, JSS university is looking to invest Rs. 2,000 crore in Mysuru for its new campus and establish state-of-the-art facilities in what is touted to be one of the largest investment opportunities beckoning the city in recent decades. The project envisages not only a digital and smart campus, but also a cricket stadium modern enough to stage international tournaments. While the first phase is expected to be completed by the end of next year, the full-fledged international campus is scheduled to be operational by 2025.

The university also provides industryinterface to its students with their association with key corporate players like Himalaya Drug Company; Philips Electronic India Ltd; Biocon Foundation, Bangalore; Alveus Pharmaceuticals Pvt. Ltd, Hyderabad etc. JSS university has received close to Rs. 8.62 crores from various funding agencies for utilization in its various major & minor projects, industrysponsored initiatives, interdisciplinary projects, student research projects etc. The university recently signed an MoU with the National Institute for Pharmaceutical Education & Research (NIPER) under the Ministry of Fertilizers & Petrochemicals. The MoU envisages preparation of snake venom anti-body and possibilities for joint projects & academic exchange programmes. The Center of Excellence in Molecular SEASONAL MAGAZINE

Biology and Regenerative Medicine ( CEMR ), established by JSS University, is one of the leading centers for laboratory research using molecular biology & stem cell research in the country. Supported in part by Vision Group on Science and Technology (VGST) and Department of Science and Technology, the CoE has been established to offer academic programs and training in the area of molecular biology and biomedical research to help develop skilled manpower. It also strives to identify therapeutic and drug resistance markers in various communicable and noncommunicable diseases & key factors regulating cellular transformation and differentiation in health and disease. The Clinical Development Services Agency (CDSA), Department of Biotechnology, Government of India has recognised JSS University, as Centre of Excellence for carrying out clinical trials. Another notable feat has been the recognition of JSS University as a regional coordinating centre for Pharmacovigilance Program of India (PvPI) by the Indian Pharmacopeial commission. The university also takes pride in its global visibility by meeting international standards. WHO International Drug Monitoring Programme located at Uppsala, Sweden has partnered with JSS

University to establish a strategic framework for collaboration to conduct training programmes for capacity building in Pharmacovigi lance for the Asia-Pacific region. WHO Global Vaccine Safety Initiative program has partnered with JSS Medical College Hospital to promote quality and safe use of vaccines. JSS Hospital is identified by WHO as a sentinel site for multi country vaccine

safety studies. The launch of the e-learning lab, a three-week programme to train nonprofessional cadres to gain knowledge of EDUSAT/INSAT 4CR satellite through distance learning, has been another feather in the cap for JSS university. With an approval from the ISRO-IIRS, the programme is aimed at empowering human resource in the field of remote sensing and geographical information systems (GIS). Admission to JSS Universityâ&#x20AC;&#x2122;s D. Pharm, B. Pharm, B. Pharm Practice, Pharm .D, M. Pharm, Pharm .D (Post Baccalaureate) courses for the upcoming academic year has begun. The last date for submitting application is on the 15th of June, 2017. The entrance test for the courses will be held on the 23rd & 24th of June, 2017.

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