June 30 july 31 by Passline Business Magazine

June 30 - July 31, 2017

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E V E N T S

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ial Services Ltd; unveilnon, Executive Director, Geojit FinancBalakrishnan, Managing Me ish Sath and k Ban eral Fed s, Jose K Mathew, Head – Retail Busines ence of Sunny N V, General Manager & Zonal Head, Ernakulam; A eral Bank. ing the new trading platform in the pres ; Babu V K Head DP Division, Fed Director, Geojit Technologies (P) Ltd

nd from refund of Seed Fu al iti in e th g in ev ci M, KSIDC re C Officials K G Ajithkumar, G logy Pvt Ltd. KSID no ch Te o ng ta us Mathew are also , Dem Anju Joseph, Jinesh Gokul V Nath,CEO k, ei Sh ik sh A , an vindaksh R Prasanth, K Ara seen.

of HLL Director S g in g a n with nd Ma airman a anging the MoU h e C t) h Rig S); for th xch E to e T t l I f a e H ( L lw e td (From Khand ices L ida. Ltd R P ech Serv orate Office, No T e r a a r c f e n I if L rp LL ITES Co , CEO, H N Sathu ear 2017-18 at H lY Financia

n” at St Teastern Passage Campaig “E g tin ura ug ina i, ch Ko Chandra b-Collector, Fort nt, Eastern Condiments; me lop ve De Adeela Abdulla IAS, Su & rch sea Re . Sivapriya, Head of Box Office; Dr Sr Founder CEO of Media resa’s College, Ernakulam ar, ak dh Su tha mi Su ia; Trainoped ge; are also seen. Vadana, Founder CEO of incipal, St Teresa’s Colle Pr , ne sti gu Au ol jim Sa Vinitha, Director & Dr

June 30 - July 31, 2017

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E d i t o r i a l

The good and simple tax

Editor & Publisher Varghese Paul Kozhikode Vineetha Mukundan Ph: 8714986177 Chennai Augustine Joseph Ph: 09381000534 Bangalore Gireesh Gopal Ph: +91 7204560000 Adithya Ph: +91 9538060591 54, 2nd Main, Vyalikaval Banglore – 560003 Manager-Marketing Sajan K Ph: 09895344485 Keethara Publications Pvt Ltd Door No: 1994/66 Priyadarshini, 2nd Floor Veekshanam Road Kochi – 682018, Kerala, India Mob: 9207734485 www.passlinebusinessmagazine.in E-mail: passline.com@gmail.com

he Nationwide rollout of Goods and Service Tax came into effect just before a couple of days, exactly on July 1. The euphoria is yet to tide over, at least among NDA, the ruling front of nation. Quite, a few experts and financial analysts are accepting it as a second independence of the country. The erstwhile Finance Minister, P Chidambaram, said that this form of GST would not benefit the nation, rather it would increase the inflation. He was also claiming that our UPA government had brought GST bill with the maximum rate of tax at 18%, comparatively lower than the prevailing rate of 28%. He complains that at that time the BJP opposed the bill and that was the reason we could not pass the bill, which is amazing. Since he is a seasoned politician and globally renowned economist, I don’t think that Chidambaram doesn’t aware about the number magic in the Upper and Lower Houses of the Parliament to get the bills passed. The NDA was after the Congress and its allies till the recent elections in northern states especially in UP. As soon as they got the numbers, they went ahead with their whims and fancies. Whatever be the attacks and counter attacks by the political parties, let us ascertain the good and bad of the so called tax regime. There are certain foreign nations in the world those are following GST as parameter for collecting the taxes. But, global super power and the global economic arsenal , the US, is yet to fall in the GST regime, the reason is known only to them. In India, launching of GST is a path - breaking reform by the BJP-led NDA. More than 60 years, we were following different methods to collect the tax. Prior to GST, there were nearly 20 types of indirect taxes in the country. All with different rates and it created havoc among the manufacturers and trading community and also general public. The best part of the GST is the cascading effect of the taxes will vanish. Filing will be easy and hassle free. Let us hope that the unnecessary harassment of tax sleuths in commercial places will not take place further. And above all, the disappearance of notorious check posts will be a reality very soon, if authorities keep the word. Apparently, the Goods and Service Tax will transform to good and simple tax in days. There will be some chaos and confusion in the initial stage that is quite natural, whenever a new law is implemented. There are complaints arising from the general public that traders representing certain sectors are fleecing the customers by taking the people’s ignorance about the new law as an advantage. If the authorities are vigil, those anomalies will surmount within one or two months. The most jubilant person after the enforcement of GST is our Finance Minister Dr Thomas Isaac. According to him, “ when our receipts are growing at the rate of 10%, expenses are growing at 15% which will end up in burgeoning fiscal deficit. In GST regime we expect a 20% growth in our income, if we curtail the expenses at least to the present level, we can easily gain 5% additional, which will reduce the gulf.” He is dreaming that the State will have a minimum of Rs three to four thousand crore in this way which will strengthen the fiscal health of the State. Let us pray to Almighty that his dream should not end up as ‘malarpodikkarante swapanam’ ( flour vendor’s dream).

Foot Note The most infectious news appeared in the media these days is that the first truck reached at Walayar check post immediately after the entry of GST was given a heartening reception by the tax authorities headed by the commissioner itself. The truck was loaded with cement and the driver was garlanded and given sweets by the officials; cleared his papers within minutes. The driver was astonished and was about to faint by experiencing the intense warmth of the reception. Because, the poor guy has the distressed reminiscences of his previous trip.

Varghese Paul

RealTY

June 30 - July 31, 2017

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INHOUSE PROJECTS A trust of quality and affordability

wning a home is the intrinsic dream of every individual. By home we mean it is meant for a family. So, it should satiate the wish and need of each member of the family almost sheltering the aged, the young and the kids.. There are many builders in every nook and corner of Kerala. But we should select the real builder to really meet our aspirations. Your search for the right house ends with the ideal choice of INHOUSE PROJECTS whose scheme is formulated to suit any class of house-seekers. It feels that there is a real realty ethics in their dealings with its customers as evident from their slogan `Build it Right; Build it once. ’INHOUSE is a young, dynamic and passionate real estate developer, focusing on developing premium and exclusive lifestyle habitats in and around Kochi. In the words of its Promoter Saju M T INHOUSE PROJECTS is a new-age developer and builder with a foundation set firmly to realise your dreams. Our concrete belief in giving you value on every deal and service translates into quality and affordability. Regardless of where you presently reside – India or overseas – you can look forward to living in world-class villas and apartments in properties amidst breathtaking surroundings in any part of Kerala that your heart longs for. We consider you our family; so feel free to consult us on any matter – our in-depth expertise in local realty trends is at your disposal. Apart from practising global safety standards, our technical know-how is put to good use by building paved paths that connect you with the towns and cities around you. Since 2001, we, at INHOUSE Projects, have been re-

ceiving global acclaim for our sophisticated services and unmatched consistency in growth. With a goal to build apartments in key locations in Kochi, we believe in upholding our investors’ trust, a vital component of real estate.”

Young and enterprising Saju, who is just 41 years old, has more than 15 years’ experience in construction and real estate field. He is an ardent follower of Industrial Titan and Social Activist of Kerala, Kouchouseph Chittilappilly, as his role model. Saju admires the philan-

thropist for his transparency and promptness in business dealings. `` We used to build customised villas for our customers according to their budgets, without compromising the quality. INHOUSE focuses on creating super luxury villas premium apartments, affordable villa plots which offer quality living at the best locations possible. Committed to excellence and craftsmanship, INHOUSE delve meticulously into every detail of the clients’ needs. Our projects are situated in prime

Saju M T

June 30 - July 31, 2017

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foundation,” Saju ensures. Manju Saju, is the wife of Saju and the couple is blessed with two children, Adithya Saju and Madhav Saju. Adithya is studying in 9th standard and Madhav 4th.

Saju with wife Manju and children locations and peaceful surroundings, with all the enjoyments of city life. It brings designs to life and turns dream into reality. We delight in catering to the special needs of our clients. Our core values include Innovation, Performance and Sustainability. The professional team of our employees and most

sought-after architects in the city are always watching the construction of villas at every stage. Their presence is strongly felt throughout every phase – planning, delivery and maintenance. So, when you walk on a freshly rolled carpet in your new dream home, you will get a glimpse of our excellence and success which stem from such attention to detail. Then feel free while living in the sheltered environs of your new home, and indulge in topnotch facilities installed just for you,” adds Saju.

THE VISION

he Vision is to create world class living environment with unmatched quality of life for people who inhabit them and that fits to their hearts’ desire and imagination. The Group is committed to providing broad spectrum of construction solutions by adopting suitable technologies for ensuring qualitative work and timely delivery of projects, meeting and exceeding customer needs and expectations through continual improvements and contributing to the overall welfare of society.

``Our titles and approvals are open for you to scrutinise. We will be transparent to you in every communication of ours. All our properties are built on the foundation of transparency. We use the best material for the price band we sell. We declare all our building specifications and would

not deviate from that. INHOUSE adheres to commitments, legal guidelines and schedules. We don’t want our buyers to be caught unaware when they are dealing with us” ambitious and determined Saju, who intends to conquer the new heights in the field of realty with trust and the quality as its

INHOUSE Seventh Avenue INHOUSE Seventh Avenue is a premium project by INHOUSE PROJECTS which is an ideal home suited for your contemporary needs, surrounded by lush greenery and packed with some top-of-the line amenities.28 magnificent luxury villas spread across 2.19 acres, located just behind Muthoot Institute of Science & Technology (MIST), Puthencruz, the most prestigious neighbourhood in Ernakulam. Puthencruz is a fast developing region in the neighbourhood of Kochi’s IT corridor, insulated from city’s hustle and bustle; this is a home that you have always dreamt of. Land area starts from 4.744 cents to 8.450 cents, depending upon the customer’s choice. 3 BHK Villa area starts from 1531 square feet to 1979 square feet & 4 BHK Villa area starts from 2100 square feet to 2500 square feet. The project is just 4 and 5 km nearer to Puthencruz and Thiruvamkulam junctions. There are

June 30 - July 31, 2017

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Engineering, Rajagiri Centre for Business Studies, Muthoot Institute of Technology & Science and the proposed public school of KRL and many others at a fair distance. There are some entertainment and theme parks like Veegaland nearby. The places like Kolenchery, Muvattupuzha, Thiruvaniyoor, Thiruvamkulam, Thripunithura, Padamugal, Vazhakkala, Chembumukku, Csez, Chittethukara and many more places are easily accessible from the proposed project site. Kiran Edachirayil iran Edachirayil, our team head for Sales, Marketing & Public Relations, has a sharp eye for striking good property deals and a passion in new age marketing and conventional marketing activities. He has about 14 years of expertise in real estate sales in Kerala. He is a great connector and enjoys being with his friends and family the most. He loves travelling and exploring new places. These qualities of Kiranâ&#x20AC;&#x2122;s have helped him identify good customers for their new projects in the real estate markets of Kerala.

many prestigious schools and colleges like Global Public School, Dawn Public School, Thomas Public School, Bhavans Adarsha Vidyalaya and Rajagiri School of

Key features. The 28 elegant luxury villas with stunning views in 2.19 acres pattern with a blend of contemporary and modern architectures, Solar-lit internal driveways for night- lighting, Landscaped entrance for each individual villa. Salubrious and serene environment for a comfortable life, Easily reachable to all major locations, Wide tarred and well- lit internal roads, Exquisitely laid out landscaped area, Internet, EPABX & Cable TV connection, Club House, Conference hall & Well-Equipped Air-conditioned Gym; All-round compound wall surrounding the community; Generator back-up (optional); Guardroom for security; Round- the- clock security with CCTV surveillance in key areas; Changing Room & Toilet for Servants; Restroom & Toilet for Drivers; Three-phase KSEB Connection controlled by Trans-

former; Pure Well Water and KWA supply; Light-soaked landscaped Garden; Secured and independent gate and compound wall for each villa; Grocery store; Pick-up and

Saju with wife

Drop Off, Fast value appreciation and assured rental income. For each and every project the promoters of INHOUSE use high quality materials for the constructions; Random rubble masonry foundation as per Standard Architectural Specifications; Good quality solid block/ Red bricks masonry structure. Front door Frame & Door in Teakwood, all other door frames in good quality hardwood and all other door shutters shall be panelled shutters of Jacsons or equivalent made with stainless steel accessories of Godrej /Yale/ Dorset or equivalent. Premium rustic finished Vitrified tiles of Simpolo or equivalent made for Kitchen, work area and balcony areas; Premium Vitrified tiles of Simpolo/ Kajaria/ Asian/ RAK for

Bedrooms; Living room, Dining room, family living area and utility areas. Rustic finished designer tiles of Simpolo/ Kajaria/ Asian or equivalent for floor and wall for toilets. Sanitary fixtures, WC and CP fittings of Cera/ Jaquar/ Roca/ Vitra or equivalent; Satin/ Rustic finished vitrified tiles for Staircase; Exterior grade putty with Emulsion finish for inside walls, ceiling & exterior walls. UPVC Windows will be provided. Concealed copper wiring of Havells/ Finolex made wires and Legrand premium modular Switches will be provided. Adequate light and plug points with 3 Phase electric power supply; Enamel paint for woodwork and grill. Granite counter top, double bowled Stainless steel Sink with drain board; Glazed tiles above the working platform up to the height of 60 cm in Kitchen. KWA/ ground water supply from open well through sump and overhead tank; Hycount/ Supreme/ Finolex/ Astral or equivalent made plumbing fittings will be provided. Provision

for cable TV connection in drawing room; Provision for AC point in all bedrooms; living room and dining room.

The Magnus

June 30 - July 31, 2017

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THE MISSION he Mission of INHOUSE PROJECTS is to provide value propositions to the customers through delivery of quality products and services at affordable price and thereby creating an everlasting association with the customers. Maintaining relationship with customers is based on the foundations of trust, integrity and transparency.

Apart from Seventh Avenue, a string of luxury projects are also launched immediately by the company. The Magnus, 3 & 4 bedrooms sky villas will be founded by first week of July 2017. This Special Edition Sky villas is coming up at Kumaranasan Road, Kadavanthra, Kochi. The Magnus features a 10 storied edifice with just 12 innovative apartments packed with luxurious amenities that reflect awesome and lustrous for the buyers. Each exclusively private domain is surrounded by a pristine airy open space, making it a real sky villa.

Housing Finance Ltd and HDFC Housing Finance Limited, arranged a new scheme for its customers for the first few bookings. This scheme is very attractive and exclusive, especially if you are considering this as an investment. The customer has to pay initially

just 10% of the total value of the villa, along with registration expenses. The finance company will fund 80% subject to the eligibility of the buyer. In this scheme the customer need not pay simple interest or pre- EMI until the delivery. The promoters will bear both

the expenses. Normally, delivery of the villas will take place between 8 – 12 months time from the date of Building Permit. Before handing over of the Villa, the customer should have to remit the remaining 10%. This scheme is very attractive, especially for investors.

Golden Rain Golden Rain is also an ultra luxury villa project of 3 & 4 bedrooms at Kakkanad close to Info Park and Smart City. In 1.91 acres, there will be 29 villas with all the stateof the-art facilities available now. Each villa will be a piece of illustrious luxury and pride. The company is planning an innovative town ship in this project, which will be self- sufficient as a town with all the infrastructures.

Garden Square This luxury garden apartments are coming up at Thevara, one of the most acclaimed residential areas. This will be a ground plus 4 floor structure having 8 units. “Irrespective of the size of the project regarding the number of floors or the units, we vehemently adhere to quality of construction. The material used for each and every stage also will be the best available in the market according to the price of each unit. For me, all are my babies, there will not be any partiality as regards the construction and the materials being used for each projects,” reiterated Saju.

A maiden scheme for the buyers The promoters of INHOUSE PROJECTS, in association with LIC (RESPONSE FEATURE)

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CMS: The ‘Cable

Dr P S Raman

A V Rajamani

Passline News Service

ealing with high quality products of renowned brands, 100% sincerity in after sales service, being trustworthy in every dealings and prompt payment are the ingredients for the success of Central Marketing Syndicate (CMS). CMS is the one stop shop for all your electrical cable needs, from .5mm to 33 KV cables. Valuable customers fondly refer CMS as ‘Cable People’ of Kerala. CMS has completed its 25th year of unstinted service to the industry in

2017. Commenced in 1992 from a small shop in Sannidhi Road, near Padma junction, Ernakulam by two stalwarts in electrical products distribution sector of Kerala, Dr P S Raman and Mr A V Rajamani. Today, CMS has presence in Trivandrum, Calicut, Palakkad and Ernakulam as its Head Office catering to entire Kerala market. In addition to that, the company has opened an office-cum- yard in Coimbatore to take care of entire Tamil Nadu region. Talking from his Ernakulum office Dr Raman, the Managing Part-

ner, told Passline, “ We started from the scratch, myself and Rajamani were working for different companies and travelling almost all over India for marketing cables and other electrical goods. Our capital was our experience when we started our own venture. Both of us have 50 years of experience in this field and unlike today, the number of distributors and the competition in electrical cable field were minimal. These factors coupled with our stringent policies and values and also God’s blessings made our venture a great success. We keep one product of

one brand, we do not keep same product of another brand. For a particular product, we keep all the varieties. If a customer comes to us, we will cater to him the entire items of that product. But, we insist on the quality that is the reason we chose Gloster as our ace product in cables. We have been dealing Gloster brand cables for the last 20 years and use to sell it for Government projects and also for private use . As of now, the complaint regarding the quality is negligible. Gloster is coming from ‘Bangur’ group , one of the oldest industrial house, based in Calcutta. Cables are one of their divisions. They have diversified business interests. They adhere to the quality; at any cost they will not compromise it. In India,

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People’ of Kerala we keep IS as our bench mark for quality but Bangur group manufactures its products with IS plus, the supreme quality. Gloster introduced triple extrusion technology in cables – Fire Retardant, Low Smoke and Low Halogen .” CMS is into distribution of Underground Power/Control Cables, Flexible Cables, House Wires, Telephone Cables, Communication/Data Cables and other electrical products like Switch Gears, Cable Joint Kits, Fuses etc. According to Raman, “ CMS, right from the beginning, maintains the business hours from 9.30 in the morning to 5.30 in the evening . We will not stretch our timings. In the beginning, we thought this policy will jeopardise our business. But, as our customers

CMS Head office

knew our strict timings they come straight to our shop to finish their purchases with us before 5.30 pm. Our next generation- Rajamani’s son Anand and my son Dilip are very much active in the shop dealings in sales and marketing, respectively. I told them, sitting in the shop 12 hours or 18

hours is not the only thing one should do in life. We must find time to indulge in social activities and also for mingling with others. After closing the shop, I will switch off my phone till next day 9 am. We belong to a community of Tamil Brahmin and I will be engaged in the community services

and also look after the affairs of our temple. Another vital policy of our business is we do not keep our suppliers on tenterhooks as regard the payment, mostly we purchase goods as cash down basis , even if the suppliers give us a breathing time of 4 or 5 days, we will make sure that, our pay-

LIST OF PRODUCTS DEALT BY CMS NO.

PRODUCT DESCRIPTION

Underground Power/Control Cables LT &HT PVC /XLPE, AB Cables

ACB,MCCB,ATyS,SDFU, change over, Isolator House wiring Cables, 3 Industrial Flexible Cables 4 CAT6-UTP Cable & Accessories 5 Jelly Filled Armoured/Unarmoured Telepohone Cables 6 MCB,ELCB,DB,Surge Arrester 7 Modular Switches 8 Power Capacitors 9 HRC Fuses 10 Energy Meters, Energy Management Systems

11 Submersible Cables 12 PVC Conduits & Accessories 13 Cable Jointing/Termination Kits

BRAND ISI/ISO-9001 GLOSTER Schneider, SOCOMEC HPL GLOSTER, CAPITAL Schneider Delton Schneider, HPL Schneider- Opale, Zencelo Schneider COOPER BUSSMAN, HPL SOCOMEC, HPL emfis,Diris GLOSTER, CAPITAL Asian- ISI

Safety Products (Rubber Mats HT/LT, Gloves, Helmets etc) Raychem RPG Polymeric Surge Arrestors Polymeric HT Insulators AB Cable Accessories

Dr P S Raman and A V Rajamani with their staff members

June 30 - July 31, 2017

The torch-bearers of CMs

Anand V R

ighly educated and deter determined younger generation of CMS has already taken the mantle of the business by looklook ing after the sales and marketing of the shop. Anand V R son of Rajamani, has joined in the comcom pany as an employee in 1996 and later he became the partner. A Master degree holder in Business Administration, Anand, coorcoor dinates and look after the sales of the shop. “ We won’t diversify from our present business. But, our inten intention is to add more products of quality brands into our product range,” said Anand. Dilip Raman, son of Raman, is an Engineer in Electronics & Communication and a post- graduate in Business Administration spespe cialized in the area of Marketing. He was working with Wipro and TechMahindra immediately after his graduation and a short stint in Havells after post-graduation. He looks after the Business De De-

velopment targeting new market segments and thereby generating sales. He also takes care of the promotion of the brand ‘CMS‘. Dilip, who is an ardent believer in digital marketing uses all available technological tools to make the brand more visible, primarily for the new-bies in the Electrical Contracting business. Dilip, who got vibrant ideas in business said, “like any other field, in our area also, changes are taking place swiftly. We must foresee the technology changes much in advance; try to become early adopters and create a foothold. Our intention is to become the number one player in our field of operation in the near future”. Both the youngsters fervently said in one voice, “ CMS, a company that takes pride in being associated only with leading manufacturers in their respective fields, committed to excellence and in delivering the highest standards, whether it be for the producer quality or customer services. With a disciplined approach, we could

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earn the trust of our valuable customers who are from various segments. We have to sustain it and keep company moving for facing the fresh challenges in the industry to become undisputed leader”.

Dilip Raman

MAJOR CLIENTS

ment reached our supplier, that particular day before we close our shop. We do not keep people to sit in our office for payments. Because of that, our suppliers will not hold our orders pending. Companies will supply on time, whenever we want the goods.

They may keep others pending to give priority for us. Trustworthiness is the back bone of every business. We do not do any illegal business like tax evasion or under valuing the bills. We took part as supplier for various projects in Kerala and outside Kerala, it in-

cludes mega government and private sector projects. Our delivery net work is very prompt. We have a net work to deliver the goods within 24 hours time, where ever it is, said Raman. Regarding transformation into GST regime; Raman said, “initially it will create

a lot of hiccups, the price for our product will increase at least by 10%. But in long term it is beneficial because, GST will eliminate other forms of taxes. We hope, the single point tax will reduce the agonies of both businessmen and the customers in long run”. (RESPONSE FEATURE)

11 insURanCe

June 30 - July 31, 2017

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It is the time to exit expensive policies Passline News Service

n the tax filing season, many people go ahead and buy insurance policies just to save some tax. And it is only after a couple of years that they realise that the policy is too expensive to maintain. Worse still, there are situations when you realise that a market-linked product is giving extremely low returns vis-a-vis your equity fund, simply because of the high costs. Many financial planners would advise you to immediately exit such policies and invest the premium in equity funds. Yes, in some cases, there would be a loss. But it’s better cut your losses sometimes than to lose big.

A typical sales pitch for buying insurance, besides the tax saving element is guaranteed returns promised by traditional products like endowment or money back policies or as mentioned before, market-linked returns in case of unit-linked insurance plans (Ulips). While the advice to clients is to use the opportunity to book the profit in Ulip- related schemes during bullish markets, it does not depend

only on market performance. The insurance regulator has also come to the policyholder’s aid with a recent circular. The Insurance Regulatory and Development Authority of India (Irdai) has warned insurance companies not to delay the release of fund value in discontinued unit-linked products, even in cases where customers have opted for complete withdrawal within the lock-in period. Here’s a checklist before surrendering your Ulip. Check the lock-in period, exit load, surrender value, performance of the fund and most importantly, whether you have any other life insurance cover to compensate the loss of coverage if you exit. In case of traditional polices, check any bonuses that may accrue (based on past bonuses announced by the insurance company) and the premium payment term that is left. According to a certified financial planner, “ once you have bought an Ulip, it might make sense to hang around for five years at least. The lock-in period for Ulips is five years or three consecutive premiums, after which you can get the surrender value. You need not pay the fourth and fifth premiums, but cannot withdraw the money before five years. Before the Ulip guidelines were revised, there was no lock-in period. But due to the high surrender charges, exiting the policy was very expensive. In traditional policies,

the lock-in period is three years after which you can get a surrender value. Policyholders stand to forfeit the entire invested amount, if the premium has not been paid for three consecutive years. If Ulips have done worse as compared to mutual funds or just the same as mutual funds over a long period of time, it may be a good idea to exit it. Because in mutual funds one has flexibility to switch fund managers and schemes based on the mix one needs and investment performance. Endowment plans can be continued if one is close to maturity (say the maturity is just three to four years away). Else, it may make sense to

surrender them as they typically offer low returns,” says the expert. “One should look at what is the sum assured you are getting and what is the return on investment you are getting. And what is the loss in case you exit and if that can be minimised,” says a renowned Insurance advisor. “In this case,” he adds, “the loss is the number of premiums paid, times the premium and the money you get back when you surrender. If the surrender value is lesser than the number of times the premium that has been paid, “then it is a loss.” “If the surrender value is higher, you are getting some money back and it is better to take the money in your hand and exit.”

12 BanKinG

June 30 - July 31, 2017

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ESAF SFB fulfils banking

Passline New Service

rom a little beginning in a house called ‘Little‘ in Mannuthy, Thrissur, ESAF has travelled a long way in securing a licence from RBI for establishing a bank. Started in 1992 by K Paul Thomas and his wife Mereena Paul, social entrepreneurs, as a charitable society with a larger vision of sustain-

able and holistic transfor mation of the poor and the marginalized; today ESAF becomes the first and only Small Finance Bank (SFB) in the state of Kerala. ESAF Microfinance, the holding company

of ESAF S F B , started in 1995 has g r o w n to a size with network of 284 branches in 94 districts spread over 11 states across the country, and now it has 12 lakh borrowers and 16 lakh custom-

ers spreading different parts of the country. ESAF Microfinance is presently headed by Mereena Paul, in the capacity of Managing Director. “SFB is introduced by the government as a part of the financial inclusion to sections of the economy not being served by other banks, such as small business units, small and marginal farmers, micro and

June 30 - July 31, 2017

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dreams of common man

small industries and unorganised sector entities. During the official launching on 17th March ESAF SFB opened 22 branches across Kerala and by the end of 2018 fiscal the SFB plans to have 145 branches nation-wide, which will include branches in metropolitan cities such as Bengaluru, Kolkata, Mumbai, New Delhi, Hyderabad and Chennai, in addition to those in rural, semi urban and urban areas. Within 5 years of time

the SFB is planning to open 500 branches across India including North – East. We are also planning to launch 1,000 ultra small branches and 10,000 customerservice points within a stipulated time”, said K Paul Thomas, the MD and CEO of ESAF Small Finance Bank. “ESAF SFB has net worth of over Rs 300 crore and recently raised another Rs 330 crore through the issue of commercial papers, for funding its operations. We hope to attain its balance sheet to Rs 10,000 crore by the end of fiscal 2018. The target for 2020 is set at Rs 20,000 crore. We have also envisaged a profit of Rs 30 crore for the first year of operation,” said the ambitious Paul Thomas. ``Since the banking industry is highly competitive, ESAF SFB is offering interest rate up to 7% for customers for their savings bank account. For term deposits, the interest rate is up to 9% and senior citizens are entitled for 0.50% additional interest ie. 9.5%. The bank is not charging service charges and also no caps have fixed for minimum balance and number of ATM transactions for the first year.” ESAF SFB will have a spectrum of deposit options for all customers including non-resident Indians (NRIs). According to Paul Thomas, “the biggest advantage of transforming from ESAF MFI to a bank is that it can offer value-based banking with a difference. The formation will further support our vision of holistic approach. As a microfinance entity, we are able to disburse only one type of loan to the beneficiaries. However, these people also require different types of banking services including savings,

K Paul Thomas

June 30 - July 31, 2017

housing loans, personal loans, insurance, pension and the like. Besides, many of our customers need bigger loans according to year of inception this year. Mereena the growth of their respective busiPaul, the Managing Director of ESAF nesses. As a bank, Microfinance, said that “every single we have access rupee invested in ESAF Microfito retail deposits nance, there is a return equivalent which will evento Rs 3.19 in social value”. She was tually reduce our saying in the light of the study concost of fund and ducted by ESAF on Social Return have a leg space on Investment (SRoI) of its Income to reduce the lendGenerating Loan (IGL) product in ing rates in future. Kerala, which was promoted by OpESAF SFB promotportunity International, Australia. ers will manage Presently, ESAF Microfinance has the microfinance a floating asset of Rs 2,400 crore. business as micro ESAF now employs thousands of banking sub-verpeople directly in different projects tical since, ESAF under diverse sectors such as miMicrofinance is the crofinance, healthcare, retail, alterholding company native energy, skill development, of it. ESAF Socidisaster management and research ety will be the CSR and development. arm of the bank doing developmental programmes, including training and capacity building. We have also created a community co-operative which owns majority of the holding company.” Regarding the structure of ESAF SFB Paul said, “SFB will have three service divisions – micro

ESAF in Silver Jubilee year

ay back in 1992, having been inspired by the ‘servant leadership’ style practiced by Jesus Christ to promote social action, a young sales officer at IFFCO cherished the dream of working for the betterment of society. During weekends and holidays, he provided career guidance programmes and counselling to job aspirants in villages. Soon, he realised the necessity of an organised frame work to pursue his vision. With support of his spouse, Mereena Paul, and few friends, the future social entrepreneur – K Paul Thomas, then set up ESAF Society in 11th March, 1992 which had sustainable holistic transformation of the poor and the marginalised as its objective. ESAF is sailing through its 25th

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banking focusing on lower income segments, providing assets and liability services to them; retail liabilities focusing on high networth Indians and middle income families, mostly for mobilising deposits and transaction banking and retail asset that will be generated from the micro banking beneficiaries as well as general customers. 201516, ESAF Microfinance registered a growth of 90% in credit portfolio. In ESAF SFB, we expect a growth of 60% on year-on-year basis in micro credit.” “We are entering into a new space now. Naturally, one should expect the challenges also. One of our primary goal is to introduce modern banking facilities to under banked sections of society. So, we will be continuously conducting financial literacy programmes and it will help us to attract new customers. Since, the area is unexplored one, we do not have direct competitors. There are certain guidelines like, we should open 25% of branches in unbanked rural areas. Besides, 50 % of loan portfolio should be below Rs 25 lakh. Unlike other banks, the priority sector lending target is 75% for us. We have been a single-product company all along. Now we are going to deal with multiple products and services driven by high-end technology and multiple vendors. We have to spend more on infrastructure and

June 30 - July 31, 2017

‘Hrudaya’ deposit scheme for social cause

his innovative scheme will be used for the welfare and development of the marginalized in society. An individual or a legal entity can join the Hrudaya Deposit Scheme with a minimum deposit amount of Rs 15 lakh and for a minimum period of two years. The highlight of this scheme is the customer will have the opportunity to gain firsthand experience of how the bank is channelling the resources to improve the lives of the ordinary people apart from getting attractive returns along with mental satisfaction of being part in the social welfare projects. The Hrudaya deposit scheme envisages the business development of rural farmers, fishermen, vegetable vendors, education loan for children of the economically backward section, introducing home loans for marginalised,vehicle loans for small scale entrepreneurs and rural infrastructural development.

ESAF SFB services in a nut shell • Saving Accounts : Premium, Regular, Mahila, Senior Citizen, Students categories and Jandhan Yojana accounts . •

Non-Resident Savings Accounts: NRE Premium, NRE Regular, NRO

•

Free ATM and Debit Cards for the first year.

•

No charges for the accounts not keeping minimum balance for the first year.

•

For the balances in Savings Accounts will get 6-7% interest.

•

No cap for number of free ATM transactions.

•

IT-enabled services like, Internet banking, Mobile banking. NEFT, RTGS, IMPS,E-statement SMS alert, SMS banking, Missed call banking, Contact centre.

•

Anywhere banking facility.

•

For selected accounts , the service of the Special Relationship Managers are available.

•

Special services in bank branches to make banking happy.

•

For NRI rehabilitation the bank will provide guidance and advices. Fixed Deposit ,Recurring Deposit and loans against gold and property for starting self- employment ventures.

•

Money transfer by branches, Internet banking or Mobile banking .

•

Current account facility.

•

Flexible and optional current accounts for tiny, small scale and medium scale enterprises. Flexible and optional current accounts for business men and industrialist.

•

Term Deposit.

•

Fixed Deposit / Recurring Deposits: 5.75 – 9% interest in different maturity periods , for Senior Citizen 0.5% additional interest rate.

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these are new to ESAF. We are confident our advantage is that we are starting the bank with a customer-base of 12 lakh and we have engaged E&Y as our institutional consultant to advise us on our transformation. On technology and customer experience front, we aspire to be like ICICI Bank and Grameen Bank, respectively. Grameen Bank is strictly following the ethos of microfinance. We have been following three pronged bottomline approach comprising financial sustainability, social transformation and environmental awareness. Economic empowerment is only one aspect of sustainable livelihood of the rural population. So, we follow an integrated approach taking into account the development of social, environmental, health and other factors,” said an optimistic K Paul Thomas .

June 30 - July 31, 2017

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June 30 - July 31, 2017

diversity of taxes GST nations Other countries where GST is now existing and the launch of the year in brackets and the rate of GST. Australia Canada France Japan China European Union South Korea Malaysia Singapore Newsland

(2000) (1991) ( 1954) ( 1989) (1994) (2006) (1977) (2015) (1994) (1986)

10% 5% 20% 5% 7% 15% 10% 6% 7% 15%

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18 economy

Dr V K Vijayakumar

June 30 - July 31, 2017

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June 30 - July 31, 2017

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20 PROJECT OPPORTUNITIES

June 30 - July 31, 2017

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dard, off-the-shelf business paper as the build material to produce a durable prototype. The main considerations in choosing a machine are generally speed, costs of the 3D printer, of the printed prototype, choice and cost of the materials and colour capabilities. Printers that work directly with metals are generally expensive. However less expensive printers can be used to make a mould, which is then used to make metal parts. In the current scenario, 3D printing has been used in a variety of industries including jewellery, footwear, clothing, industrial design, architecture, engineering and construction, automotive, aerospace, dental and medical industries, education and consumer products. Additive manufacturing of food is being developed by squeezing out food, layer by layer, into three-dimensional objects. A large variety of foods are appropriate candidates, such as chocolate and candy and flat foods such as crackers, pasta and pizza. with inkjet printer heads layer by layer. ISO/ASTM52900-15 defines seven categories of AM processes within its meaning: binder jetting, directed energy deposition, material extrusion, material jetting, powder bed fusion, sheet lamination and vat photo polymerization.

By Job K T

D printing, also known as additive manufacturing (AM), refers to processes used to create a three-dimensional object in which layers of material are formed under computer control to create an object. Objects can be of almost any shape or geometry and are produced using digital model data from a 3D model or another electronic data source such as an Additive Manufacturing File (AMF). Thus, unlike material removed from a stock in the conventional machining process, 3D printing or AM builds a three-dimensional object from computer-aided design (CAD) model or AMF by successively adding material layer by layer. The term 3D printing originally referred to a process that deposits a binder material onto a powder bed

3D printable models may be created with a computer-aided design (CAD) package, via a 3D scanner or by a plain digital camera and photo grammetry software. 3D printed models created with CAD result in reduced errors and can be corrected before printing, allowing verification in the design of the object before it is printed. The manual modelling process of preparing geometric data for 3D computer graphics is similar to plastic arts such as sculpting. 3D scanning is a process of collecting digital data on the shape and appearance of a real object, creating a digital model based on it. Before printing a 3D model, it must first be examined for errors. Most CAD applications produce errors in output files such as holes, selfintersections, noise shells or manifold errors. A step known as “repair” fixes such problems in the original model. Once completed, the file needs to be processed by a piece of software called a “slicer,” which con-

verts the model into a series of thin layers and produces a G-code file containing instructions tailored to a specific type of 3D printer printers. This G-code file can then be printed with 3D printing software. Printer resolution describes layer thickness and X-Y resolution in dots per inch (DPI) or micrometers (µm). Typical layer thickness is around 100 µm (250 DPI), although some machines can print layers as thin as 16 µm (1,600 DPI). X-Y resolution is comparable to that of laser printers. The particles (3D dots) are around 50 to 100 µm (510 to 250 DPI) in diameter. 3D printing technique known as Fused Filament Fabrication; a filament of plastic material is fed through a heated moving head that melts and extrudes it depositing it, layer after layer, in the desired shape. A moving platform lowers after each layer is deposited. For this kind of technology additional vertical support structures are needed to sustain overhanging parts. A large number of additive processes are available. The main differences between processes are in the way layers are deposited to create parts and in the materials that are used. Each method has its own advantages and drawbacks, which is why some companies offer a choice of powder and polymer for the material used to build the object. Others sometimes use stan-

3D printing has entered the world of clothing, with fashion designers experimenting with 3D-printed bikinis, shoes, and dresses. In commercial production Nike is using 3D printing to prototype and manufacture the 2012 Vapor Laser Talon football shoe for players of American football, and New Balance is 3D manufacturing custom-fit shoes for athletes. 3D printing has come to the point where companies are printing consumer grade eyewear with ondemand custom fit and styling. Ondemand customization of glasses is possible with rapid prototyping. In cars, trucks, and aircraft, 3 D printing is beginning to transform both unibody and fuselage design and production and power train design and production. In 2015, a Royal Air Force Eurofighter Typhoon fighter jet flew with printed parts. The United States Air Force has begun to work with 3D printers, and the Israeli Air Force has also purchased a 3D printer to print spare parts. GE Aviation revealed that it had used design for additive manufacturing to create a helicopter engine with 16 parts instead of 900, with great potential impact on reducing the complexity of supply chains. 3 D printing impact on firearms involves two dimensions: new manufacturing methods for established companies, and new possibilities for the making of do-it-yourself fire-

June 30 - July 31, 2017

arms. Surgical uses of 3D printing-centric therapies have a history beginning in the mid-1990s with anatomical modelling for bony reconstructive surgery planning. Patient-matched implants were a natural extension of this work, leading to truly personalized implants that fit one unique individual. Virtual planning of surgery and guidance using 3D printed, personalized instruments have been applied to many areas of surgery including total joint replacement. The hearing aid and dental industries are expected to be the biggest area of future development using the custom 3D printing technology. 3D bio-printing technology has been studied by biotechnology firms and academia for possible use in tissue engineering applications in which organs and body parts are built using inkjet techniques. Recently, a heart-on-chip has been created which matches properties of cells.

Sl. No.

Description

Requirement

A rough estimate for starting a 3 D printing unit is given below:

2 Sl. No. 3 1 4 2 3 4

5 6

Land

10 cents

Buildings

3000 sq ft Requirement Rs 50.00 lakh 10 cents Rs. 100.00 lakh 3000 sq ft annum Rs 50.00 lakh

per

Rs.

per

Description 3 D Printing Machine Land Raw materials required are binders, powders Buildings and accessories, cartridges, ABS plastic, PLA, 3 D Printing Machine polyamide (nylon), glass filled polyamide, stereo Raw materials required are binders, powders lithography materials (epoxy resins), silver, and accessories, cartridges, ABS plastic, PLA, titanium, steel, wax, photopolymers and polyamide (nylon), glass filled polyamide, stereo polycarbonate etc. lithography materials (epoxy resins), silver, Direct employment potential titanium, steel, wax, photopolymers and Power requirement polycarbonate etc.

100.00

lakh

annum

5 persons 10HP

Direct employment potential 5 persons The approximate investment requirement for setting up of 3 D printing unit 6 Power requirement 10HP will cost Rs 150.00 lakh as indicated below: The approximate investment requirement for setting up of 3 D printing unit will cost Rs 150.00 lakh as indicated below: The approximate investment requirement for setting up of 3 D printing unit

Cost will cost Rs Sl. 150.00 lakh as indicated below: No. Particulars (Rs in lakhs) 1 Land Own 2 Buildings 60.00 Cost 3 Machinery & Equipment 50.00 Sl. 5No. Miscellaneous Particulars (Rs in lakhs) fixed assets 5.00 1 Land Own 6 Preliminary and pre-operative 4.00 2 Buildings 60.00 expenses 3 Machinery & Equipment 50.00 7 Contingency@ 10% 11.00 st 5 Miscellaneous fixed 5.00 8 Working Capital(1 assets Year) 20.00 6 Preliminary and pre-operativeTotal 4.00 150.00 expenses It is expected that financial institutions will provide term loan to the extent of 65% of the fixed assets amounting 7 Contingency@ to Rs 80.00 lakh. Apart from this, the unit is also 10% eligible for working capital loan of Rs11.00 15.00 lakh( 75% of working st provide term loan to the extent of 65% It is expected that financial institutions will Year)in the project cost of Rs20.00 8 bankWorking capital) from commercial in the firstCapitalyear. The(1balance 55.00 lakh will have to be mobilized by the promoters. Total 150.00 of the fixed assets amounting to Rs 80.00 lakh. Apart from this, the unit is also The financial viability of the unit is provided below:

eligible for working capital loan of Rs 15.00 lakh( 75% of working capital) from It is expected that financial institutions will provide term loan to the of 65% Sl. No. Amount Rsextent in lakhs) commercial bankParticulars in the first year. The balance in the project cost( of Rs 55.00 lakh of the1 fixed assets amounting to Rsfrom 80.00 Apart from this, the unit is also Annual sales income 3 D lakh. Printing 250.00 will have to be mobilized by the promoters. eligible for working loan of salary, Rs 15.00 lakh( 75% of working capital) from 2 Cost capital of raw materials, power, commercial bank in the first sales year.commission, The balanceinterest in the project cost of Rs 55.00 lakh depreciation, 150.00 The financial viability ofloan, the unit is provided below:etc. on term administrative expenses will have to be mobilized by the promoters. 3 Operating Profit

The financial viability of thepoint unit is provided below: 4 Breakeven

100.00 25%

5 Pay Back Period

Less than 1.5 years

6 Internal Rate of Return

50%

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Objects can be of almost any shape or geometry and are produced using digital model data from a 3D model. The 3 D printing has potential in jewellery, footwear, food, industrial design, architecture, engineering and construction, automotive, aerospace, dental and medical industries, education and consumer products. 3D models with the use of inkjet technology save time and cost by eliminating the need to design; print and glue together separate model parts. It also helps to visualize the products before production and enable modifications to the product. The growing market for 3 D printing opens avenue for investment in major cities in Kerala. (Professor Job K T is a retired Senior Faculty of Centre for Management Development, Thiruvananthapuram. Presently he is the Director, Enterprise Development Service, Thiruvananthapuram, offering training, consultancy, asset valuation and Quality Management System services to small and medium enterprises. He can be contacted at Mob: 9847135571 or e.mail: jobkt012@gmail.com)

June 30 - July 31, 2017

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June 30 - July 31, 2017

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June 30 - July 31, 2017

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NEWS

June 30 - July 31, 2017

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26 EDUCATION

June 30 - July 31, 2017

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MBA @ SNGCE ensures a

Passline News Service

ver a few years, Kerala had been witnessing the growth of a large number of educational institutions especially in the self- financing sector. The number of engineering colleges imparting management education as well as stand alone business schools are also there. However, MBA @ SNGCE (Sree Narayana Gurukulam College of Engineering) at Kadayiruppu, Kolenchery, Ernakulam, stands alone upholding its principles of imparting quality education as well as to empower the masses to achieve social and economic freedom through technical and management education. Having its humble beginning with a batch strength of 60 students in 2004 with

Apart from academics, research has been one major thrust area for SNGCE over the years. the aim of grooming out business barons and executive honchos, the course which was affiliated to Mahathma Gandhi University was later brought under APJ Abdul Kalam Technical University in 2016. The department is also certified by ISO 9001-2008 and is internationally accredited by IAO USA and is also accredited by the National Board of Accreditation (NBA). Over the years, the batch strength has been brought up to 120 and courses in Marketing, Human Re-

sources Management, Finance, Systems, Productions and Operations and International Business are also offered. â&#x20AC;&#x153;There can be no half- hearted efforts when it matters about quality and value based education. All efforts are taken to ensure that quality in education is maintained and quality philosophy is inculcated into our faculty, facility and infrastructure. Though it is the people who make the difference, it is the quality that gives us a pep.â&#x20AC;? MBA @ SNGCE is focused mainly on quality oriented education providing students real life situations for case analysis and churning them to be good business leaders of the future. The management as well as the faculties are keen on providing our MBA participants with the necessary techno managerial skills which are essential to

face new challenges, make strides of progress and lead a successful career which is value- based and thus being socially committed. Our participants have also made us proud in the way forward. Over the years, MBA @ SNGCE has been able to bag several top slots in the MBA examinations and also a large number of awards at various management meets in and around the State, the latest being the Special Jury award in the Big Idea Contest organised by V Guard Industries. The participants also have won the most popular team award in the Yi Road 2 Ideas contest as well as in the Yi meets. Apart from academics, research has been one major thrust area for SNGCE over the years. The Research Forum which was set up in 2010 under the name of Albert Einstein Centre for

June 30 - July 31, 2017

bright future

Research and Development (AECRD) was officially inaugurated in 2014 June. Headed by the Director (Research), the SNGCE Research team boasts of a large number of doctorate holders of which many are research supervisors. With most of the faculties pursuing the doctoral research in various areas, multidisciplinary research is highly encouraged for societal development. The research activities in SNGCE got a fillip as the institute was approved as the Recognised Research Centre of the Kerala University of Fisheries and Ocean Studies (KUFOS), Panangad, Kochi. Engineering and Management research activities are in full swing in the research centre here with a good number of Management and engineering faculties being approved as Research supervisors. As many as seven scholars are pursuing their doctoral research in management related area alone. The centre has also

come out with high quality research papers under the joint authorship of research scholars and supervisors which have been presented in leading institutes in the country such as IITs and IIMs as well as in scholarly journals. In addition, the research centre also conducts regular Faculty Development Programmes on various research topics for assisting the scholars and researchers. The biannual Gurukulam Journal of Management Research ( G J M R ) serves as a platform for expression of ideas of research scholars, academicians, researchers and industrialists. Supported by a team of eminent academicians in the review board, the journal is also available online in www.gjmronline. com The centre was also able to undertake a large number of consultancy works and also funded projects from various Government agencies and the publications by the faculties in various IEEE journals and also indexed journals provided a great thrust to the research activities apart from academics. MBA @ SNGCE has also been conducting annual two- day International management conference under the flagship name PLACITUM, which serves as a platform for academicians, researchers, research scholars and students for exchange of research ideas and research as well as to listen to eminent academicians and industrialists from the country. PLACITUM was able to attract eminent academicians from various IIMs, IITs and other prestigious foreign institutes as well as students and researchers from various institutes in India and abroad. Special journal issues as well as edited books for the conference also provided the research

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studies for research aspirants. In addition, the annual research conference combining engineering and management named International Conference on Emerging Trends in Engineering and Management (ICETEM) also serves as a platform for the exchange of ideas on a multidisciplinary basis. The conference has also been able to gain attention of a large number of teachers, researchers and students. Apart from academics, the institute

On its 14th year, MBA @ SNGCE remains deeply rooted to its commitment on building a legacy of committed business leaders of the years to come. I am reminded of a proverb - “If you want to go fast, go alone. But if you want to go far, go together.” Indeed, we want to work together with all of you to proceed as far as our vision, mission, talents, resources, and dreams lead us. A team of faculties with creative minds and articulate skills with a

also provides an opportunity for the participants to fulfil their commitment towards society. Participants of MBA had over the days undertaken several socially relevant programmes such as visit to geriatric homes and orphanages, providing donations, educating the public on demonetisation drive and several others. Placements had also been at its peak at SNGCE. With several companies such as KPMG, Allianz, UAExchange, RBS, Bloomberg, EY, PNB Paribas, Asian Paints, Agape, Airtel, Reliance, Vodafone, Havells, Nestle, V Guard, Dalmia, Nirapara, Synthite industries, The Hindu, TVS and more recruiting our participants, MBA @ SNGCE marches forward with the aim of making landmark changes in the field of business. The Management wing of SNGCE is placed in such a position wherein it is all set to seize the opportunities and make innovative strides in the arena of management education. The lasting effects of this institution’s accomplishments stand as testimonial to the belief that a small group of committed individuals can make a difference.

vision based on hard work, open communication, efficient team work and commitment makes the impossible possible for us and this is what makes MBA @ SNGCE numero uno. The upcoming years are challenging for MBA @ SNGCE like any other B- schools in the country. As the great writer Robert Frost has said “Woods are lovely, dark and deep, but I have promises to keep and miles to go before I sleep and miles to go before I sleep….” Yes MBA @ SNGCE too has got a long way to go. We are sure that the quality education, value addition, committed band of faculties, dedicated students and the untiring efforts would take us forward. In the journey forward, we are banking on the reserves of goodwill among the diaspora of our strong alumni, reputation of SNGCE among recruiters and potential students and the commitment of faculties and staff towards the institute. The future is extremely bright for MBA @ SNGCE and we look forward for being recognised as one of the premier management institutes and research centres in the country.

28 CURRENT AFFAIRS

Passline New Service

June 30 - July 31, 2017

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What we expect from

he Presidential sweepstake has almost zeroed into Ram Nath Kovind at this time. Though Ms Miera Kumar is also in fray, the numbers are favouring Kovind. Most of former Indian Presidents were a patently, if not blatantly, ostentatious oddity in a country whose people are yet to be assured of their basic services. He is a person invisible most of the time, cast in the cavernous cage of a Rashtrapati Bhavan, bound hand and foot by the Constitution with no role other than signing on the dotted line and performing meaningless rituals. Out of the 13 Presidents India has had so far, only four could be said to be memorable in popular esteem; the rest were either mediocrities or mockeries. The reason is obvious: The political class of whichever complexion does not want to install anyone of true and solid worth, strong moral fibre and high professional and intellectual endowments with capacity for independent thinking, who would presume to hold it to account. With the result, though the Constitution makers conceived the President to be a tribune of the people and made him an integral part of Parliament itself, political parties have tended to treat the post as a sinecure and the occupant as a cipher, with little use for any experience and knowledge he may bring to it. In brief, the choice of the President has been reduced to a game of one-upmanship that political parties play among themselves. It is high time the selection process ceased to be the exclusive preserve and prerogative of a select few with their own axes to grind. It should also be broadened and deepened to include consultations with eminent achievers in different walks of life, such as eminent professionals, the scientific community, the legal fraternity, business and industry, trade unions, women's groups, voluntary organisations, the academia and even the student community, encompass-

ing the civil society in general. For instance, as suggested at one time by the former chief election commissioner T S Krishnamurthy, We, the People, who, till now had been mute, and sidelined, spectators, should demand adoption of a Constitutional amendment to include in the Presidential electoral college all elected representatives in local governments, as a way of broad-basing the composition of the electors to the high office. This will be in consonance with the Indian tradition of janapadas and it will also enable Panchayati Raj institutions to slowly evolve into a Peopleâ&#x20AC;&#x2122;s Parliament. This will also get over the limitations of an indirect election, and generate a sense of the people's participation in the choice. It will lead to the President being regarded, when s/he assumes charge, the friend, philosopher and guide to her/his council of ministers, Parliament and the people as a whole, reflecting their aspirations and

symbolising the unity of the nation. This will help her/him rise to his full potential as the First Servant of the People, exactly as the founding fathers intended her/him to be. Indeed, if s/he is a person of sagacity and integrity, s/he can, from behind the scenes, even serve as a great force safeguarding the noble values of India's glorious heritage and the nation's paramount interests. Whoever is elected, s/he should conduct herself/himself as a role model, and as a standard-bearer and a shining beacon, who will do the country proud. Here are a few benchmarks against which the people, and s/he herself/himself, should judge her/his worthiness for the job.

Adopting a simple and austere lifestyle: S/he should eschew ostentation and opulence, and lead a frugal life, emulating A P J Abdul Kalam.

Being accountable People:

the

The oath the President takes requires her/him not only to preserve, protect and defend the Constitution and the law, but also to devote herself/himself to the service and wellbeing of the people of India. 'Preserving' the Constitution means not allowing it to be trampled upon and not letting the institutions it has created be defiled and subverted.

Being sensitive and responsive to People's representations: The President has to sensitise her/his secretariat to the imperative need to respond promptly to, and follow up on, the letters and representations received from the People. Hitherto the practice has been to forward them to the concerned ministries/ agencies, with a copy endorsed to the sender, and then forget about them. Instead, s/he should introduce the practice of her/his secretariat ascertaining from the government the nature of the action taken and in-

June 30 - July 31, 2017

P a s s l i n e

our next President

forming the sender. A time limit of two months should also be fixed for taking action.

Visiting various parts of the country, especially the farthermost corners, frequently: This can be with five objectives in mind: •

To be visible and accessible to all sections of people;

•

To enthuse individuals and institutions engaged in worthwhile public causes;

•

To put heart into the weaker sections of society by having a running awareness of their problems; To maintain contact with youth and women, in particular, so as to channelise their energies towards nation-building activities; And to inspect schemes and projects undertaken by the government so as to keep those implementing them on their toes.

Diligently scrutinising Cabinet papers and proposals coming to her/him: The Constitution gives the President the right, 'generally or otherwise', to require reconsideration of any advice given

by the Cabinet, although s/he is bound to follow the advice received after such reconsideration. Under a centuries-old convention, the British monarch on whom India's Presidency has been modelled, enjoys the right 'to advise, encourage and warn' the ministers in furtherance of the national interest.

dent can also meet periodically functionaries such as the Central Vigilance Commissioner; Chairman, Union Public Service Commission; Secretaries to government and heads of Public Sector Enterprises to get an overall picture in regard to the quality of governance.

India's President can also press this into service, by having the Bills and other proposals properly scrutinised, before approving them.

Using Rashtrapati Bhavan to generate new ideas or launch non-political initiatives: Even within the Consti-

Keeping abreast of developments:

tutional parameters, a keen and creative President can use her/ his stature and influence to bring together leading lights in various fields such as agriculture, industry, science, technology, education, population trends, social service and environment, and encourage them to do out-of-the-box thinking on current and emerging issues of importance and forward to the government or the concerned agencies recommendations for further course of action.

There is already a practice in Britain of the prime minister having lunch with the monarch every Tuesday during which there is an informal and comprehensive exchange of views and information. In India too, it is desirable to adopt a similar practice. It can also be extended to cover heads of political parties and Members of Parliament. The President, of course, should be liberal in giving as many visitors from the different parts of the country as possible opportunities to meet her/him, and earnestly pursue the matters they bring to her/his attention.

Briefing himself on the quality of governance: The Presi-

This was what C Subramaniam used to do when he was the governor of Maharashtra, thereby converting the Raj Bhavan into a veritable power-house of ideas.

Keeping a watchful eye on defence and security: The

Constitution vests the supreme command of the defence forces of the Union in the President, stating that the exercise of her/his authority by the Supreme Commander should be regulated by law. No such law has so far been passed. Arguably, while the President qua President is bound by Cabinet advice, the Supreme Commander, with a distinct and separate role in its own right, should be empowered to act in her/his best judgment when the nation's defence demands instant decisions in grave situations. Otherwise, s/ he will be neither supreme nor a commander.

Time-lines for definitive disposal of references on various issues: As at present, there is no time limit prescribed for giving Presidential assent to Bills, especially those received from the states. The delays in dealing with petitions for clemency, pardon, and the like often reach unacceptable proportions. Generally speaking, a sense of time, simplicity and integrity is still foreign to the national character. A President who is a living embodiment of high principles can tone up the entire national fabric.

30 MANAGEMENT

June 30 - July 31, 2017

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Values, not profit margins, should be measure of success

‘Metro Man’ Dr E Sreedharan inaugurating G2G Management Services in Thiruvananthapuram . Lords Hospital Chairman Dr K P Haridas, APJ Abdul Kalam Technological University Vice-Chancellor Dr Kuncheria P Isaac, Former Kerala Chief Secretary Jiji Thomson, G2G Director George Thomas, and G2G Chairman and Former HLL CMD Dr M Ayyappan are also seen.

r E Sreedharan emphasized the other day in Thiruvananthapuram the importance of imparting value education for success of any governance institution or commercial venture. This is ultimately dependent on its ethics and value system. Sreedharan was speaking at the inaugural function of Good2Great (G2G) Management Services, a boutique management consultancy for which he is the Chief Mentor and is led by former HLL Lifecare Ltd (HLL) CMD Dr M Ayyappan “For any undertaking, success should be measured not in terms of its profit margins, but the values – such as punctuality, integrity, professional competence and commitment to society – it builds across its structure and the changes it brings about both within the culture of institution and beyond it,” he said.

“The incorporation of these principles and others within its work

Metro Man launches Good2Great Management Services management consultancy to build value-based leadership within government. institutions, industries, startups culture and workforce is the reason why the Delhi Metro Rail Corporation was declared the ‘PSU of the year’ by the All India Management Association in 2016,” he reminded a gathering of industry leaders. G2G, which takes its name and cue from renowned management guru Jim Collins’s ‘Good to Great’ principles, will work with industries, government institutions, family-run businesses and startups with the objective to build competent valuebased leadership in order to develop and execute sustainable growth strategies. “There are no bad companies, only badly-managed companies. G2G

to grow cohorts of leaders that are competent, inspiring and honest,” said Thomson, who later chaired a thought-provoking panel discussion on ‘Building Great Organizations in India: Opportunities and Challenges’.

will work to instill best management practices such as value-based leadership, create a business plan, execute strategy, enhance operational efficiency and build capacity within our clients. This will turn good companies into great organizations of global standards and scale,” Dr Ayyappan said.

The panelists comprised notable heads of industry cutting across a number of sectors, including Mr K. Nandakumar, President and CEO of SunTec, and Dr K P Haridas, Chairman Lords Hospital. Dr Haridas had earlier handed to Dr Ayyappan G2G’s first contract: a letter of engagement from Lords Hospital.

Former Kerala Chief Secretary Jiji Thomson noted that the failure of visionary leaders to empower their teams and establish processes to follow is the cause of institutional disintegration and collapse.

Dr Kuncheria P Isaac and former Becton Dickinson and Co Managing Director Manoj Gopalakrishna, who is G2G’s Managing Director, felicitated.

“Leaders transform an organization while managers simply transact business. It is indeed commendable that G2G’s objective is

G2G Director George Thomas, who has around four decades of experience in the banking sector, was also present.

ABOUT A BOOK

June 30 - July 31, 2017

`Let’s start a business’

Suresh Kumar

uring the time of self- employment, start-ups, skill development etc, a handbook detailing these subjects is a welcome sign. While there are myriad books in English regarding business, marketing, entrepreneurship, a complete book in these subjects in Malayalam is unique. The recently released book titled ‘Varoo, Namukkoru Business Thudangam’( Come, let us start a business), written by Sudheer Babu, a Kochibased management consultant, public speaker, member of Kerala Management Association, member of Kerala Chamber of industry, member of Indian Institute of Material Management, is a compendium on the concerned subjects. The 167- page book priced Rs160 starts with a relevant popular query on business. ‘While a few people taste success, many fail. Why success cannot be achieved for all alike?’ The book tells the reasons and tips on success mantra.

The book satirically points out each aspect of business. The era of ‘cat eats rats’ has gone, now the period of ‘cat eats cats’ have come. The survival of the fittest rule has come into business also. Those with innovative ideas and implementation can reap success. Those with pragmatic approach can withstand in the business. Unlike other English books, this book narrates every aspect of business in simple Malayalam spread to 46 chapters. Sudheer Babu belongs to Nettoor in Ernakulam district. After his graduation from St Albert’s college, Ernakulam, he did his MBA from St Paul’s College. He is the founder and Managing Director of Devalor Management Consultants Pvt Ltd. A prolific writer, eloquent public speaker, Sudheer Babu conducts various management training programmes. “De Valor”, the name is Spanish that means ‘mostly valuable”. De Valor Management Consultants Private Limited is a company registered under the Indian Companies Act and is a leading Management Consulting firm having its presence across India and Middle East with client base of Corporate, Small and Medium Enterprises (SMEs) and start- up firms. Another area concerning wannabe entrepreneurs is finding capital for business. During the era of startups, if you have innovative ideas people will queue up for investments, says Sudheer Babu. Think before you venture into any business. The following 5 points must be borne in mind before you start a business. 1) Product 2)

Branding 3) Rivals 4) Target Group 5) Geography of the market. The target should be considered in a wider spectrum. The sales potential of the product should be analysed in detail. Never compromise on the quality of the product for profit. By sticking to the ethics of business, sales will naturally be boosted. According to Sudheer Babu, ‘every successful business man analyses the changes and new trends constantly. The constructive trends in the industry are incorporated and the negative trends are discarded. One can survive in business only by adopting changes in the sector’. Here he quotes Charles Darwin’s principle ‘survival of the fittest’. Sudheer Babu stresses the need for communicating with the customers to survive. The business community has to communicate with the masses to survive. The motto customer is the king is applicable to any business. The entrepreneur should aware about the target group of his venture. Sudheer Babu says that there is no necessity to have great ideas to start a venture. Many people backtrack from starting business as they think that they have no great ideas. He says that since successful business has been a continuous process, one should not wait for great ideas to start a business. According to him innovation is an indispensable part of every successful business. The business should be accommodated with changes. Newer ideas have to be incorporated for every successful venture. He points out the mushrooming to supermarkets even in rural areas. The new trend of start-ups has to be tread cautiously. Although numerous ventures have been mushrooming a few of them survive. Lack of planning is the main cause, according to him. One advice he put forward is relevant. Do not invest too much in infrastructure like office, interiors, cabins etc. ‘An entrepreneur’s office is not a museum.’ He cites the classic example of the great Steve Jobs computer ven-

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ture ‘Apple’, which was started in Steve’s car garage. Sudheer Babu stresses the need to minimise initial investment and amassing working capital. Bringing professionalism in business is a must. It will overcome contingencies happening in individual entrepreneurship. The next generation should be trained to carry forward the business. Sudheer Babu laments the saddening feature prevailing in business sector in Kerala i.e. work culture. While the labourers in Kerala think about their salary and perks, they forget the responsibilities. Many of them didn’t want to learn skills in their work, but vociferous in claiming more remuneration. The number of workers shifting from one establishment to another on the basis of remuneration has been increasing in Kerala. According to him, there is lack of business culture in Kerala. Yet business in Kerala has been thriving. The wages and remuneration be given based on performance of the workers. Kerala needs a complete master plan to thrive in industry. He also calls upon the need for a mentor in business, who can advice, guide properly. This is necessary in the case of partnership business. The experience of individual partners, workers etc is also an advantage. The modernisation, upgrading of business is a must in the present day digital world. Smart phones have become our mobile computers. Trading, employment etc. have been done through digital process. In the era of gender equality, Sudheer Babu urges the women folk to enter business. The concept of marriage for women and business for men has gone. While recruiting employees in business, skill and qualification should be made the criteria. ‘Right person for the right job’ must be the mantra for successful business. Sudheer Babu, Managing Director, Devalor Management Consultants, Palarivattom, Kochi can be contacted at email ID sudheerbabu@devalorconsultants.com, ph9895144120. The book published by National Books Stall is available in leading book stalls and in the above address.

32 RN65561/94 Reg No KL/EKM/116/2009/2011

June 30 - July 31, 2017

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Printed and Edited by Varghese Paul for Keethara Publications Pvt Ltd, Door No: 1994/66, 2nd Floor, `Priyadarshniâ&#x20AC;&#x2122;, Veekshanam Road, Kochi-682018. Web: www.passlinebusinessmagazine.in, E-mail :passline.com@gmail.com and printed at Ayodhya Printers Pvt Ltd, Cochin -26. Layout & Design by Venu.