March 31,2017

Special feature inside

EVENTS the anding over h , C ID S K , IAS, MD CUSAT R Centre of Dr M Beena IP d n a C ID en KS CUSAT; MOU betwe e Chancellor, ic V , a th e CIPRS L J , Director, IU . n to Prof (Dr) a n sh ri k la o seen S Gopa SIDC, are als Prof (Dr) N K M G r, a m Ku and K G Ajith

) nk(SIB a B n India Dr E South vakumar; VG Si redit) D and CEO n) C ( P EV M Adm aran; ager ( rious h n d a e e r M S ral f va ; Gene students o on the w e h t Ma ho w th 42 aul wi m Kerala w Scholar’.

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sia g Fab A n i t a r u aug ed ion, in sion. T s Bis s s i i M M p zri rtu rtup ala Sta y Kerala Sta er, Kochi Mu r e K , b CEO und zed rasad, ence organi omu, Co-Fo P r a k onfer iyas K ayasan Dr C J 3 (FAN 3) C b, Taipei; R rk La Netwo irector, Fab D .

Hung, re also seen a , ennale

KIIFB: FM’s magic wand for treasure hunt

K

erala budget 2017 – 18 reached a milestone of its 60th fiscal year. The difference between the first budget in 1957 – 58 and the present one is that while the estimated expenditure of the state as per the recent budget is Rs 1.9 lakh crore , equalling to Rs 328 crore a day now, whereas the expense in 1957 -58 was a paltry Rs 30 crore.

Pinari Vijayan Government’s first full budget presented by Finance Minister Thomas Isaac is focussed on welfare measurers and developmental outlook. No doubt that it will satisfy the expectation of majority of the population.

The revenue deficit and the fiscal deficit predicted in the budget also find any substantial danger in the near future. But, the Finance Minister’s announcement that the majority of the development project will be carried forward with the money from Kerala Infrastructure Investment Fund Board (KIIFB) is creating an impression that the Minister is in a perplex situation to find the resources for the Budget allocation. An – out- of - the Budget route like KIIFB circumventing the hassles of public borrowing by the government, is not a bad idea. But, if we go in detail of the budget, we can see that KIIFB is a dream which has to become a reality.

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Varghese Paul Kozhikode Vineeth Mukundan 8714986177 Chennai Augustine Joseph Ph: 09381000534

Last year, in the budget, KIIFB was projected as a special purpose vehicle (SPV) that is expected to mobilize resources through funding from NRIs to fund big ticket investments. The targeted amount was Rs 20,000 crore which is still in the paper. Rs 4,000 crore advanced by the NABARD is the only capital of KIIFB till the day and the government could not be able to garner the balance amount. The anticipated reason for this is government’s inability to showcase lucrative project to lure the big NRI investors. Keeping this in mind, this time Finance Minister is targeting NRKs only to collect Rs 12,000 crore by KSFE , the chit company owned by the government. Isaac’s this wisdom is more pragmatic because he is targeting people those who have interest for their mother land and more over when the fun reaches in KIIFB through KSFE the government is extending bond as security for the investment by them. By this act government take NRKs in confidence.

Bangalore Gireesh Gopal +91 7204560000 Adithya +91 9538060591 54, 2nd Main, Vyalikaval Bangalore - 560003

If the amount accruing parallel to budget estimate is not utilized in a productive manner this will become a liability for the government. So, the government should make sure that this money is used as productive. In the present situation, it is too difficult to finish the proposed feasible projects as per the schedules due to several reasons. The first hindrance is the intricacies in the government systems. Another one is the harassment of the Vigilance Department towards capable officers which will end up in eroding the morale of the officers leading to the delay of the procedures.

Manager-Marketing Sajan K 09895344485

In a nut shell, for KIIFB the prime factor is not the availability of fund. But, the guarantee for using the money in proper way. We do not know that even the Finance Minister himself can give that sort of a guarantee. Everybody knows the fate of Islamic bank and Kerala bank. Let us hope that KIIFB will not face the same fate!

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Mob: 9207734485 www.passlinebusinessmagazine.in E-mail : passline.com@gmail.com

Varghese Paul

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RESPONSE FEATURE

March 31, 2017

PASSLINE

Varma Homes: The brand which V

arma Homes, the youngest builder in the state, has just completed six months of its inception. But within this short span of time, the brand has made strong presence and acceptance among the investors. It did not stop there, if you check its inventory you will get astonished by knowing that the brand has made over 30 sales so far that too in two projects in this troublesome period. Passline met Anil Varma, the Managing Director of Varma Homes Pvt Ltd at his office recently. Anil Varma, a Civil Engineer, is a known personality among the builders fraternity with over 25 years of tremendous experience by constructing over 8 million sqft of realty. He has cherished the dreams of thousands for their dwelling into reality. Anil was also one of the Directors and share holder of the most visible real estate brand in the State – Asset Homes.

The elated Anil told Passline that “At this joyous moment of time I would like to express my wholehearted gratitude to my customers, the team members of Varma Homes, JV partners and the wellwishers to make the brand an acceptable one within the time frame of six months. Where ever we plan our project, we indulge in joint ventures. If the brand does not have the acceptance people do not surrender their land to us for developing. The maiden project of Varma Homes is Varma Regent at Ponek-

gone, now we focus the professionals, both working husband and wife who are easily fetching a salary pack around a lakh of rupees, as our prime buyers. Giving weightage to their salary slips banks will give them 85 to 90% of apartment cost as loan. We avoid the contractors in our sites and the com com-

kara, Edappally, Kochi. Varma Homes presently have seven projects in and around Kochi. All are ideally located with affordable pricing. Apart from Kochi we shall be commencing projects in Thrissur and Thiruvanathapuram,” said Anil.

The company is earmarked an investment of Rs 300 crore to build 500 homes initially with the tag line of ‘ Constructing Happiness’.

“The firm also has an idea to invest Rs 275-300 crore in commercial property development in the very near future. The company is aiming for the construction of a knowledge park in Kochi for the IT and IT enabled services,” Varma points out. As regards the prevailing market condition he said, “ Though the sector is going through a rough patch, the solace is the market is slowly picking up; the real buyers are now buying, no speculation in the sector, it is a good sign. Like previous time, nobody in the sector is starting a project giving thrust only for NRI. That scenario has

Anil Varma

pany is executing the construction work directly to reduce the cost.

And also we take maximum care to avoid unnecessary expenses.

Apt project planning, timely completion, responsible fund management through joint ventures etc will help us to pass proper value to our investors for their investments,”

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reckons by its acceptance Digitalisation will clean up the sector “Digitalising every sector including real estate is a good move from the government. Real Estate is the one sector where the black money is rampant. There has a parallel economy in the sector, which is larger than the legitimate one. Since industries doing voluminous business, it is easy to transact any amount of black money in real estate. To some extent, the reason for this malpractice is the high registration fee and tax imposed by the government on this sector. If the government can reduce it, unscrupulous elements surrounding the sector will vanish. Interest subsidy announced for 6 lakh income group will augment the growth of affordable housing. Now, the talk among the industrial circle is that the government is formulating to extend the subsidy to Rs 12 and 18 lakh for salaried class also in very near future. This will certainly elevate the glory of the industry similar to its heydays,” optimised Anil Varma.

Varma adds. As regards the regulatory measures, “measures taken by the government is a boon to the industry and for genuine players in the sector,” he opined.

Anil Varma’s wife Dr Mini Varma, an ayurveda practitioner, is actively participating in the company affairs as Director. She is a senior visiting faculty in major ayurvedic institutions and she is making plans on engineering green eco – friendly spaces that compliment the nature.

Recently she has ventured in to a new health care division, “Varma Ayurvedics”. “We shall be soon into manufacturing of Ayurvedic medicines in traditional way to promote Ayurveda and to improve quality of health care system in Kerala,” said Varma.The couple is having a daughter Arathy Varma, studying in 12th standard at BhavansVindya Mandir.

Projects at a glance Varma Regent is a modest luxury apartment project having one, two and three BHK facilities.

It will have a total of 40 units ranging between 550 to 1390 sqft with all modern amenities and quality construction made out of leading brands in building materials. Varma Regent is ideally located at Ponekkara, the place which has easy accessibility to the nerve centres of the city and to lessen the travel agonies of proud buyers of Varma Regent. The Kochi Metro is commencing its first phase upto Edapally. The price range for Varma Regent is from Rs 25 lakh to Rs 60 lakh.

Varma Malika, located in S N junction Thripunithura, is the best spot of the town. This is a 12unit apartment project in 12 cents

Anil Varma & wife Dr Mini Varma

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March 31, 2017

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of land having 2&3 bedroom flats.

2BHK has an area of 890 &1095 sq ft and 3 BHK has 1310 sq ft area. It is well-constructed apartments with leading brand building materials. S N junction is interconnected to temples, churches, shopping malls, schools like Bhavans, Choice &Chinmaya; and connectivity to mini bypass, the seaport – air port road and more, making the living, a truly royal experience. The price range is Rs 40 to Rs 60 lakh.

Varma Kottaram

is luxury apartment project located between Kalikotta Palace and Sree Poornathrayeesa Temple, makes you proximate to almost everything of royal lifestyle demands. The project has 40 flats with 2BHK and 3BHK apartments, pricing from Rs 40 lakh to 60 lakh. This project is awaiting for the building permit and construction will commence in April. Kottaram has all the modern amenities like club house, solar energy utilisation in selected areas, fully automatic lifts, intercom facility, children’s play area, roof top party area, terrace garden, recreation space, fitness centre etc.

Considering the locality, the amenities are provided by the promoter.

No doubt that this project is real value for its investors.

Varma Padipura is yet another luxury project from Varma Homes at the cultural hub of Kochi – Thripunithura. Located in the land of royalty, the rich historical mores of Thripunithura reflects the depth of art, culture and belief. The prestigious music and fine arts college, RLV and Government Sanskrit College are just a few blocks away from Padipura. The project is having 32 flats ranging from Rs 40 lakh to 60 lakh. The 2 & 3 BHK flats are equipped with all the modern amenities which is worth for its price.

Varma Connect This project is in Vennala, just 1.5 kilometre away from Bypass. The project is also awaiting for the permit and will start by April. Like all other projects, this one also has a luxury flat falling in the price range of Rs 45 lakh to Rs 65 lakh. All amenities similar to other projects are available in Varma Connect.

Varma Beu fort Beu fort is at Chullikkal, Fort Kochi and it is a 30-apartment complex.

In this project also 2 &3 BHK flats

Anil Varma with wife and daughter

are available. A luxury apartment with the quality construction similar to any other project of Varma Homes.

“Besides these projects Varma Homes is undertaking the construction of affordable housing project in Thiruvamkulam”, said Anil. “This project will have 160 apartments with 2 and 3 bedrooms, hall and kitchen. 1000 sq ft 2-bed room, hall &kitchen flat will cost Rs 27 lakh and 1200 sqft 3BHK will cost Rs 33 lakh. Project will commence by June. We are also into a premium villa project in Thiruvamkulam. Planning 125 vil-

las in 8 acre land and each villa will have 1800 sqft. The highlight of this project is, out of 8 acre, 1.25 acre will be covered by greenery.

Another charm is that it will have a 20,000 sqft club house in its premises. In Thrissur we are coming out with 3 projects. Varma Urbane is in Kottapuram. Urbane will start by April, it is a 30-flat luxury project of 2&3 BHK. The price will range between Rs 50 lakh to Rs 65 lakh. Varma Signature in Ancherichira will have 140 flats in 125 cents.We are providing more thrust for the nature and greenery in this project. Our plan is to restrict the foot print to 22% of the total land

and balance will keep vacant. Signature is scheduled to launch by June. Another one in Nadathara, Poochetti and this one will also be launched by June, located just opposite to the Bhavans School.

This will have 40 flats pricing to the tune of Rs 35 and Rs 50 lakh. And, immediately we are planning two projects in Thiruvananthapuram also; one at Peroorkada another at Kazhakoottam. These flats meant for professionals working in IT or similar field. Like all our project this one also have all modern amenities and luxuries with affordable prices,” Anil Varma said.

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PRODUCT OPPORTUNITIES

March 31, 2017

PASSLINE

PRECISION PRINTED CIRCUIT BOARDS

By Prof Job K T

R

ecent years have seen dramatic progress in the performance of electronic devices such as mobile phones, notebook PCs and electronic books.Meanwhile the circuit patterns produced by the circuit forming process are becoming ever finer and this creates a need for smaller inter-wire spacings and greater precision in through hole and pad alignment accuracy. This article describes the trends in Printed Circuit Boards (PCBs) with higher densities and in ultra-fine, high-precision exposure technology using direct exposure machines. These performance improvements require not only the miniaturization and performance enhancement of the semiconductors and other components used in these devices but also the ability to achieve higher densities, multi-layer structures and small hole diameters in the PCBs on which these components are mounted to form electronic circuits. Laser drilling machines are able to drill small-diameter interlayer connection holes with high speed and precision and direct exposure machines capable of producing the very fine wiring and high precision needed for higher wiring densities.

In terms of application, the precision printed circuit boards market can be divided into seven segments namely aerospace/defense, automotive, communication, computing, consumer electronics, medical/instrumentation/industrial and others.

The global PCB market has been analyzed based on the different product types, end use industries, components used, materials used and geographic regions. These markets are broken down into segments and sub-segments, providing exhaustive value analysis for the years 2011, 2012, and forecast to 2018. The PCB recycling market has analyzed with explanation pro-

vided regarding the recycling processes used, smelting methodology and step by step production of PCBs. The PCB recycling market is also covered in the context of PCB remanufacturing and PCB reconditioning markets.

The global PCB manufacturing market is expected to increase its market size from around $62.30 billion in 2013 to around $74.31billion in 2018, growing at a cumulative annual growth rate (CAGR) of 3.6%. It may reach a level of $80.00billion market by 2020. The market volume is also expected to increase to 32 billion units in 2013 and 39.20 million units by 2018, growing at 3.8% and 5% respectively. The PCB remanufacturing market is also expected to grow at an impressive CAGR of 41% and the PCB reconditioning market at 20% during the forecast period of 2013 - 2018.

Analyzing the competitive landscape of the global printed circuit boards market for 2012, Industry is of the opinion that Nippon Mektron Ltd (Japan) had the top position with a market share of around 3.9% followed by Unimicron Technology Corp (Taiwan) with a share of 3.7%. Considering the high level of market share fragmentation the top 6 companies had a combined market share of only 18% in the industry. Other players in this market include TTM Technologies (USA), SEMCO (Korea), Nanya PCB (Taiwan), Young Poong Group (Korea) etc., which together make up around 10% of the market.

The need for high-density mounting on PCBs has made the build-up printed wiring board an essential technology. Similarly, the machining of THs (through holes) using drills and BHs (blind holes) using lasers are both important techniques for making connection holes during mass production. Meanwhile, circuit pattern formation is starting to shift away from them ask exposure technique used in the past toward direct exposure which can draw the circuitry directly using fine lines.

The demand for PCBs with higher densities is also accompanied by a need for higher precision, smaller diameters, finer lines, and faster speeds. To achieve these requirements high-speed spindles [350,000 rpm (revolutions per min-

ute)] and table servo technology with high speed and precision for mechanical drilling machines, galvanized technology using panels and multiple beams.

PCBs can be divided into singlesided, double sided and multi-layer boards depending on the application and the higher mounting densities associated with making products smaller and more sophisticated have led to drill hole diameters being reduced to 0.3 mm or less for various different device types including PCs (personal computers) and mobile phones. Recent years have also seen a shift toward use of FC-BGA (flip chip ball grid array) and CSP(chip-size package) packages which has led to drill hole diameters as small as 0.1 mm. It is anticipated that hole diameters of 0.10 mm or smaller will be required in future. High-speed Spindle is the rotating part that holds the drill bit and is a critical component for small-diameter drilling.

Printed circuit board manufacturing process includes, drilling, plating, and final fabrication. All the circuit boards have go through intensive testing and quality control during each step of the manufacturing process.

Laser drill is necessary for today growing technology, drilling the smallest micro-vias using a beam of light 20 microns (1 Mil) in diameter. High influence beams can cut thru metal and glass creating the tiny via hole. After wards, Post Etch Punching of core material is the only acceptable method of building precision tooling which must remain accurate in a production.

The products are pressed in Press Room.

Press lines for manufacturing quality, high layer count PCB’s with consistency and in a timely manner.

It is drilled in CNC machines with drill and profile routing software allowing for high performance and throughput. Automated plating lines serving quick turns and production of small to high volume. Production panels proceed to etching to remove unwanted copper and into the strip line to remove protective film. Automated Optical Inspection equipment on internal and external layers allows for minimal fallout on final product. Routing and scoring to precise dimensions within sup-

plied tolerances are the final steps prior to electrical testing. Constant monitoring by engineering ensures parts will meet your specifications.

Probe testers are used to 100% electrical test all PCB’s on site at manufacturing.

There are a half a dozen manufacturers in India producing precision printed circuit boards located in Hyderabad, Mumbai, Bangalore etc.

The capital cost for production automated 30,000 Sq. m of precision printed circuit board is estimated to be Rs.250.00crores. The capital structure will constitute consortium funding of financial institutions and share capital. A company can raise Rs.150.00crores as investment funding from financial institutions and balance of Rs.100.00crores can be mobilized as share capital.

The investment funding will be repaid in ten years time after an initial moratorium of one year.

The Indian Space Research Organisation (ISRO), Defence Research & Development Organisation (DRDA) and Hindustan Aeronautical Limited are some of the organisations in India needing precision printed circuit boards.

The global PCB manufacturing market is growing to attain a demand $74.31billion in 2018. It is poised to grow at a cumulative annual growth rate (CAGR) of 3.6%.

Thus the demand will reach to $80 billion by 2020.

Encouraged by the new policy of Make in India, new ventures to manufacture the growing need for precision printed circuit boards has good market potential within the country. It can also explore the export market as well. (*Professor JOB. K. T is a retired Senior Faculty of Centre for Management Development, Thiruvananthapuram and approved consultant by various Departments.

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 ore-mail: jobkt012@gmail.com.)

8

OPINION

March 31, 2017

PASSLINE

K A S is no panacea; Government should prepare a white paper on reforms

K Vijayachandran*

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March 31, 2017

PASSLINE

10 N- ARMS

March 31, 2017

PASSLINE

UN PAVES THE WAY FOR CONFERENCE ON TREATY ELIMINATING NUKES The UN has decided to hold a conference to begin work on the new treaty despite fervent opposition from some nuclear-armed nations.

By Jamshed Baruah

G

ENEVA | NEW YORK (IDN) - The United Nations General Assembly has confirmed that beginning March 2017, it would hold a conference open to all member states, to negotiate a “legally binding instrument to prohibit nuclear weapons, leading towards their total elimination”. The conference to be held at UN headquarters in New York will be divided into two sessions: from March 27 to 31 and from June 15 to July 7.

“This historic decision heralds an end to two decades of paralysis in multilateral nuclear disarmament efforts, and comes at a time when the two major nuclear-armed states are engaging in nuclear-sabre rattling,” noted the International Campaign to Abolish Nuclear Weapons (ICAN).

The civil society organisation was referring to Russian President Vladimir Putin and US President Donald Trump have announced their desire to “strengthen” their countries’ nuclear capacities.

“This reckless and aggressive behaviour by Russia and US President. . . leaves the rest of the world with a simple choice, silently watch the risk of nuclear war continue to rise or take action and prohibit these inhumane and unacceptable weapons of mass destruction,” said ICAN Executive Director Beatrice Fihn.

John Hallam of the People for Nuclear Disarmament pointed out that Russia and the US each currently has some 7,000 nuclear weapons, a considerable diminution from the times of the last cold war, and each maintains just under 1000 land-based ICBMs in a status in which they can be launched in a few minutes. “The use of even a fraction of these forces (most likely on each other) would end civilisation as we know

it (something that could be achieved by the use of as few as 5 large nuclear weapons in space above continental landmasses),” said Hallam.

It is against this backdrop that the General Assembly approved a historic resolution on December 23. The vote followed a decision on October 27 by the General Assembly’s

First Committee – which deals with disarmament and international security matters – to begin work on the new treaty despite fervent opposition from some nuclear-armed nations. 113 UN member states voted in favour of the October 27 resolution, 35 against and 13 abstained. As ICAN noted, support was strongest among the nations of Africa, Latin America, the Caribbean, Southeast Asia and the Pacific.

A cross-regional group comprising Austria, Brazil, Ireland, Mexico, Nigeria and South Africa initiated the resolution. They are likely to lead next year’s negotiations.

According to ICAN, at a UN budget committee meeting shortly before the General Assembly adopted the December 23 resolution, the United States objected to a funding request for the planned four weeks of negotiations on the treaty to ban nuclear weapons. “But under intense pressure from supporters of nuclear disarmament, it eventually withdrew its objection, and the committee authorized the request,” stated ICAN, a civil society coalition active in 100 countries.

ICAN saw a leaked document distributed to all NATO members by the United States in October 2016 ahead of the First Committee decision. The US – which pos-

This new treaty will place nuclear weapons on the same legal footing as other weapons of mass destruction,” Fihn added.

sesses some 7,000 nuclear weapons – urged its allies to oppose the resolution and to boycott the negotiations.The document warned that a treaty eliminating nuclear weapons would erode the percep-

tion that nuclear weapons are legitimate for certain nations and make it more difficult for NATO to engage in nuclear war planning. According to ICAN, a number of close US allies that in October voted against the resolution or abstained have indicated their intention to participate in the negotiations anyway, in order to help shape the treaty. The Netherlands, which hosts US nuclear weapons on its territory and abstained from voting, has confirmed that it will take part. Despite opposing the resolution, Japan’s Foreign Minister Fumio Kishida wants his country to attend.

ICAN is urging all nations to take part in the conference next year. “Every nation has an interest in ensuring that nuclear weapons are never used again, which can only be guaranteed through their complete elimination. We are calling on all governments to join next year’s negotiations and work to achieve a strong and effective treaty,” Fihn said. ICAN stressed that the negotiations should proceed whether or not nuclear-armed nations agree to participate. “As a matter of principle, weapons that are indiscriminate in nature and are in`tended to cause catastrophic humanitarian harm should be prohibited under international law.

She hopes that through its normative force, the nuclear weapon ban treaty will affect the behaviour of nuclear-armed nations even if they refuse to join it. It will also affect the behaviour of many of their allies that currently claim protection from nuclear weapons, including those in Europe that host nuclear weapons on their territory. “It will contribute significantly towards achieving a nuclearweapon-free world.”

The treaty is likely to include provisions similar to those found in existing treaties banning biological weapons, chemical weapons, anti-personnel landmines and cluster munitions.

These include prohibitions on use, development, production, acquisition, stockpiling, retention and transfer, as well as assistance, encouragement or inducement of anyone to engage in any of these prohibited activities. Biological weapons, chemical weapons, antipersonnel landmines and cluster munitions are all explicitly prohibited under international law.

Nuclear weapons remain the only weapons of mass destruction not yet outlawed in a comprehensive and universal manner, despite their well-documented catastrophic humanitarian and environmental impacts. Recent studies have also demonstrated that the risks of accidental or intentional detonations of nuclear weapons have been dramatically underestimated or misunderstood. Victims and survivors of nuclear weapon detonations, including nuclear testing, have contributed actively.

Setsuko Thurlow, a survivor of the Hiroshima bombing has been a leading proponent of a ban.

“This is a truly historic moment for the entire world,” she said following December 23 vote.

“For those of us who survived the atomic bombings of Hiroshima and Nagasaki, we know that nuclear weapons are inhumane, indiscriminate, and unacceptable. All nations should participate in the negotiations next year to outlaw them.” – Third World Network Features.

11 FARM WOES

March 31, 2017

PASSLINE

FARMERS SUFFER PAINS OF DEMONETISATION India’s marginalised and economically vulnerable sections of society are hit hard by the demonetisation move.

By Moin Qazi

D

emonetization has left deep scars on the economy and, despite assurances from the government, the journey to normalcy may be slower and more painful than expected. The denudation of India’s vast informal economy, almost entirely dependent on cash, has put the marginalized and economically vulnerable – farmers, daily-wage labourers, street vendors, small businesses, tiny industries, shops, and countless other basic industries and services that employ more than 90% of Indian workers – at risk. They collectively account for almost half the economy. That’s some $1 trillion, or more than the GDP of Indonesia.

Forced to stand in long lines at banks and outside machines and suffocated without the liquidity they need for daily wages and purchases, those who inhabit the bottom of the economic pyramid, are actually paying a heavy price. There is a general feeling that by cancelling 86% of circulating currency when 70 to 80% of transactions are cash-based, the government has burned down its economic house in order to eradicate the pest of corruption.

The farm sector has taken the worst scalds. The government’s decision triggered a nationwide cash crunch that sent farm prices crashing to rock-bottom levels, bringing misery to millions of farmers.

Above-normal monsoon rains in most parts of central and northern India had fields sprawling with crops with farmers expecting to make up for the loss suffered after two successive drought years.

The Rs 17 lakh-crore agricultural and food markets, from the mandi to the neighbourhood grocer, are going through a very painful phase. Demonetization has vacuumed liquidity from this virtually cash-only economy that provides livelihood to half the population. Business is forecast to revive only after people in 7,500-plus mandis and 600,000 villages are adequately re-stocked with new currency.

The cries of Indian farmers can hardly be neglected by the leaders of a country where twothirds of people still live in the countryside and are heading to cities in droves to escape the wrath at their farms. When India became independent, the contribution of agriculture to the economy was 50%; now, it is 15 per cent. Employment in the agro sector was to the extent of 88%; now, it is 66 per cent. Rural wages have fallen to their lowest.

With agriculture becoming un remunerative over the years, and with the farm incomes steadily declining, a majority of the farmers want to quit farming if given an alternative. Parched fields, failed crops and emaciated cattle have helped drive up the number of suicides by distressed farmers unable to repay their loans. Tens of thousands have left their farms in search of menial jobs, with many joining the ranks of the unemployed poor in the cities.

A survey by the New Delhi based think-tank Centre for the Study of Developing Societies (CSDS) has shown that 76% farmers want to leave agriculture. This is because farming has become an economically unviable proposition.

Some estimates suggest that 30 Indians move from a rural to an urban area every minute. India is urbanizing rapidly as young people from the countryside flock to cities in search of jobs and economic opportunities. The total population of farmers has declined by 15 million farmers (‘main’ cultivators) between 1991 and 2011 and 7.7 million between 2001 and 2011 on account of heavy migration. On average, that’s about 2,035 farmers losing ‘Main Cultivator’ status every single day for the last 20 years.

And in a time of jobless growth, they’ve had few places to go beyond the lowest, menial ends of the service sector.

A report of the Institute of Applied Manpower Research (IAMR) — a part of the Planning Commission — puts it this way: “employment in total and in nonagricultural sectors has not been growing. It speaks of “an absolute shift in workers from agriculture of 15 million to services and industry.”

Many within the sector also likely moved from farmer to agricultural labourer status swelling the agrarian underclass.

While the rural areas are being emptied, moving the population into the urban areas is leading to the collapse of the cities. It is ex-

pected that by 2035, roughly 50% of India’s population will be urban based. Secondly, the population shift from rural areas along with prime farmland being diverted for non-agriculture purposes will create a food deficit thereby leading to an unforeseen crisis on the food security front.

Women have suffered heavily in the process. Female farmers are particularly vulnerable, to agricultural decline. There has been an increase of 38% and 13% from 2001, respectively, in women as main and marginal agricultural labourers from being cultivators.

The total number of female farmers has declined 14% from 2001 (41.9 million) to 2011 (36 million).

This includes a 10% decline in the number of main cultivators. There has also been a 20% decline in the number of marginal female cultivators.

The agrarian crisis of which farmer suicides are a tragic consequence is a mega calamity, rooted in one fundamental cause, the drive towards corporate farming’ driven by the predatory commercialization of the countryside .The rise of big agriculture has led to an alarming reduction in the varieties of food being grown and has made farmers hostages of the corporations that sell seeds and pesticides. This has been compounded by the rise of genetically modified crops, which is yet another case of humans’ manipulating nature without thinking of possible long term complications for the health of both the people and the farms.

Humans have an innate drive to work the land and produce food for their families and communities. Farmers take significant risks to satisfy that drive, and if they are unsuccessful, they develop a deep sense of failure. Farmers are motivated to hang on to land at almost all cost. When he was young he could walk out to his fields any time during the planting season “and your feet would sink into” the

moist earth. “The soil was slippery and oily and it would stick to your legs and feet and you would have to scrape it off.” Now, he said, picking up a clump of hard earth that has to be ducked with a tiny shovel, the soil is like a stone — it is not living anymore.

India’s first Prime Minister and the greatest visionary Jawaharlal Nehru had said in 1947, “Everything can wait, but not agriculture.” Indeed the first five year plan focused on agriculture. Now, after 70 years, things are not what were dreamt by the first prime minister. The benefits of addressing the problem were understood long ago. An old Indian quotation poetically illustrates: “Tireless farmers, learned men and honest traders constitute a country. Wealth, large and enviable, and produce free of pests make up a country. The hallmark of an ideal land is where people voluntarily pay all taxes.” India needs an economic movement that starts in villages, not one that bypasses them.

Short on empathy and a sense of responsibility, our leaders see even grave crises only through the lens of their own privilege. – Third World Network Features.

(Moin Qazi is the author of the bestselling book, Village Diary of a Heretic Banker .He has worked in the development finance sector for almost four decades .He can be reached at moinqazi123@gmail. com.

The above article is reproduced from Countercurrents.org, 30 December 2016.

When reproducing this feature, please credit Third World Network Features and (if applicable) the cooperating magazine or agency involved in the article, and give the byline. Please send us cuttings. And if reproduced on the internet, please send the web link where the article appears to twn@twnetwork.org.)

12 NEWS

March 31, 2017

PASSLINE

AVA Healthcare partners with Ambika Pillai and smoothness. The Shampoo for Treated Hair is a pH balanced ultra moisturising gentle shampoo that is recommended for straightened and colour treated hair, ensuring shiny and healthy-looking hair”.

MCG giant AVA Healthcare ties up with Ambika Pillai.

AVA Healthcare, which is the manufacturer and marketer of the world’s largest Ayurvedic bathing soap brand Medimix, has partnered with celebrated hairstylist and makeup artist Ambika Pillai for its new range of hair and skincare products. The natural hair care and skincare range under the Kaytra brand will be available across Kerala.

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The AVA Group is a diversified conglomerate with interests in the fast moving consumer goods (FMCG) sector, healthcare, real estate and entertainment. Over the last many decades, the group has established itself as a leader in each of the sectors it operates in.

The brand brings forward the decades-long experience of the AVA Group in natural and Ayurvedic products and the expertise of Ambika Pillai who has worked extensively with Bollywood and other celebrities.

Mauritius and Switzerland.

AVA Healthcare promoter Dr A V Anoop said, “the Kaytra brand

Dr Anoop said, “Kaytra brand draws its name from the Sutra (manual)

would first be launched in Kerala and then extended to other states.”

“Kaytra is the fruition of a dream of bringing my years of experience with natural beauty products to a wider audience. The joint venture with AVA Group has made it possible to bring premium quality beauty products in small packets”, said Ambika Pillai.

Ambika Pillai is well known in the Indian hair and fashion circles and regularly styles film stars for various shows and shoots. Her clients include Aishwarya Rai, Sushmita Sen, Katrina Kaif, Deepika Padukone and Sonam Kapoor among others. Besides catering to Indian celebrities, she is also on the international fashion circuit, and has done fashion shows in New York, London, Paris, Singapore, Dubai,

Dr A V Anoop

The AVA Group has established two entities for its FMCG operations.

The flagship company is a manufacturing entity that manufactures soaps and other personal care products with 8 factories located in Tamil Nadu, Pondicherry, Kerala and Karnataka. The other entity is the Research & Development wing, approved by the Ministry of Science & Technology, Government of India.

Ambika Pillai

of good skin (Kaya) and good hair (Kesha). The brand will first launch the hair care range for nourishing and cleansing of hair, and follow it up with the skin care products.

The nourishing range includes Kaytra Hair Oil, Kaytra Hair Pack and Kaytra Hair Revitalizing Hair Cream for men. The Hair Oil is a unique blend of 5 oils, infused with 8 herbs, which helps improve blood circulation, to the scalp, thereby strengthening, and nourishing the roots and hair.

The Hair Pack is a deep conditioning product that restores natural shine and lustre of the hair from the inside and outside. It is 100% natural and rich in essential nutrients that hydrate and nourish the hair.

The Hair Revitalizing Hair Cream for men is a light, non-sticky, dailyuse hair cream for strong, bouncy and shining hair. It prevents the incidence of dry scalp, damaged hair or hair fall. The cleansing range includes Kaytra Shampoo for Frizzy Hair and Kaytra Shampoo for Treated Hair. The Shampoo for Frizzy Hair has de-frizzing properties of coconut and argan oil, and is a trusted recipe for instant shine

The group’s promoter Dr A V Anoop has over 33 years of experience in soap, pharmaceutical, cosmetics and food industries. Besides the Medimix brand which is the world’s largest selling Ayurvedic bathing soap, the group owns the Sanjeevanam brand that is famed for Ayurvedic treatments and healthy food. The AVA Group has established two entities for its FMCG operations. The flagship company is a manufacturing entity that manufactures soaps and other personal care products with 8 factories located in Tamil Nadu, Pondicherry, Kerala and Karnataka. The other entity is the Research & Development wing, approved by the Ministry of Science & Technology, Government of India.

As a strategic diversification into the food industry, AVA Group recently acquired Kerala-based brand ‘Melam’ which is into spices, masalas, instant breakfast, pickles and desserts, thus enabling it to expand the scope of its distribution nationally and internationally while deploying its scale to realise cost efficiencies in its corporate operations. The group has also established AVA Gulf FZCO to cater to international markets, based out of Dubai, UAE. This helps the company’s brands to reach international markets apart from the current serviceable countries Oman, Saudi Arabia, Qatar, Bahrain, Kuwait, UK, UAE and Australia.

The company has commenced ecommerce activity on a national scale from its website http://www.avacare.in/kaytra and is also active on social media on https://www.facebook.com/ Kaytra-299502400427037/?fref=ts

13

March 31, 2017

ibis Hotels has thrown open its doors in Kochi

SIB tops up figures in Q3

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S

outh Indian Bank (SIB) has kept its financial equilibrium steady in its third quarter also, despite the general slowdown prevailing in the country .

The bank has added profit of Rs 9.75 crore this quarter to a net profit of Rs 111.38 crore. In percentage wise it is 9.59 % on YOY basis. The bank has achieved a total business of Rs 1,08,829 crore, a growth of 15.72% viz - aviz last year the same period. The deposit has increased by 19% to Rs 63,595 crore and advances to Rs 45,234 crore, a growth of 11.41 %. The NRI deposit has increased to Rs 16,317 crore from Rs 13,556 crore in the corresponding period last year . The net NPA has increased to Rs 2.52 core from Rs 1.80 crore in the last fiscal same period.

Announcing the results in Kochi recently MD & CEO V G Mathew said, “ our growth drivers are SME Loans, Home Loans and LAP, Agriculture and Auto Loans. We have achieved a surge in SME and Agriculture advances to the tune of 15.09% on YOY basis and portfolios of home and auto loans marked an increase of 33.34% and 29.25% respectively”. He attributed the good performance of the bank to the realignment of business strategies opted by the bank with emphasis on retail lending and CASA in this challenging environment. “ The Board of Directors of the bank has decided for a Rights

Issue to the existing share holders on Rights basis to support the business expansion and meet Bank’s future capital requirements. The Rights Issue to be in the ratio of 1:3 and the price will be Rs 14 per equity share including a premium of Rs 13 per share.

The bank is anticipating to collect a total of Rs 630 crore by this exercise,” said Chairman of the bank Salim Gangadharan. Responding to a query he also said during the period between November 8 and December 31 the bank collected Rs 3,000 crore as deposit of high value notes which do not have legal tender now.

“During its 3rd quarter, the bank has introduced a co- branded credit card named South Indian Bank Platinum SIB Card as an initiative to fulfil the customers’ expectation.

Our department of Information and Communication Technology obtained ISO 27001:2013 certification from British Standards Institution and in the technology front SIB Mirror, our mobile banking App has been chosen as a winner in “Finnovatic 2017” award , by Banking Frontiers which honours innovation in banking technology”, said the Managing Director.

The SIB as on date has 840 branches, 45 extension counters and 1,313 ATMs . During the quarter, the bank had opened 7 ATMs and 1 branch. By the end of this fiscal the bank is planning to open 50 outlets and 100 ATMs altogether.

PASSLINE

otels group ibis opened ibis Kochi City Centre recently.

The hotel is in MG Road near Padma Theatre , a stone’s throw away from the upcoming Kochi Metro station and short drive to Ernakulam railway stations. Ibis is originated from the joint venture of InterGlobe Hotels and AccorHotels India. AccorHotels is Global Hospitality giant having 4,000 hotels all over the world. Kochi City Centre is the debut in Kerala and this is the 15th property of the group .

During his welcome address Ajit Jose, General Manager, ibis Kochi City Centre, said, “By featuring 115 well-appointed rooms, the hotel’s contemporary design offers unparalleled comfort and convenience with its range of inroom amenities, signature Sweet Bed™-- an innovative bedding concept by ibis and complimentary high speed Wi-FI access to ensure that guests can enjoy a relaxing stay. For food aficionados, ibis Kochi City Centre features the ibis signature ‘Spice It’ restaurant – a food concept tailor-made for India.

Serving Indian, Oriental and European cuisine prepared from freshest locally sourced ingredients, ‘Spice It’ offers well-priced, quality home style and healthy food and beverages – buffet and a la-carte menu – including an eight-hour non-stop breakfast concept starting from four in the morning until noon. At ‘Spice It’, the concept of “You Create, We Cook” comes to life with live cooking stations. The interactive cooking environment lets guests explore their culinary skills whilst dining in one of the most vibrant and energetic restaurants in town. For small meetings and events, the hotel features two modern and stylish meeting rooms with state-of-the-art technology.

Fitness enthusiasts can enjoy a total work out at the cardio centre

equipped with the latest fitness equipment.”

“Keeping in mind the needs of today’s connected traveller, ibis Kochi City Centre features My Zone at The Hub, the hotel’s lobby bar, where guests can unwind and spend quality time enjoying a refreshing drink while listening to their favourite music, playing entertaining games or surfing the Internet on tablets that come equipped with high quality stereo headphones. Guests who are always on the move can access over 1,000 international and local newspapers and magazines on their personal devices including smart phones, laptops and tablets, with the help of PressReader app, exclusively available to them at the hotel. For information about the hotel and its services, and travel information to plan their itinerary, guests can turn to the Virtual Concierge at ibis Kochi City Centre,” he added.

J B Singh, the President & CEO, InterGlobe said, “We have tied up with AccorHotels way back in 2004 and Ibis group of hotels have 8,000 rooms in India till the date and we will increase the number to 10,000 in the very near future.

We also launch new properties in Coimbatore, Goa and few other destinations immediately. We just made a footing in Kerala and we will think ahead to launch another one when the time comes.”

Jean-Michel Cassé, Senior Vice President, Operations, AccorHotels India, said, “We are excited to bring the ibis brand to Kerala. Kochi is an upcoming smart city and commercial hub and we are proud to open its first international economy hotel. With a sharp focus on today’s connected business traveller, the hotel promises to be a sophisticated stay destination with a host of innovative facilities, all at an attractive price point”.

14 VIEW POINT

March 31, 2017

PASSLINE

HOW TO AVOID CLOSURE OF ENGINEERING COLLEGES imum. Similarly, advanced automation will occur in the services and with the advent of intelligent buildings and roads the whole city will become smart in the real sense.

Engineers for tomorrow The students, sitting in the engineering class rooms today, should be groomed to build, operate and innovate the systems and processes in the smart factories and smart cities.

Current scenario

Varkey Pattimattom (Former MD, HAL)

O

f late, reports are coming out regarding the woes of the present generation of engineering students. Many of them are not able to pass the examinations and even one –third of the graduates are not found employable.Frustated and depressed, many of them are approaching mental hospitals or indulge in fraudulent and criminal activities.

Now that, the whole world is moving towards Industry 4.0 where in, end –to-end digitization automating the processes with the help of latest technologies. This is happening in the manufacturing sector and eventually it will capture the service sector also.

India, being the sixth performing nation in the manufacturing sector, as per the latest report of UNIDO , can leap forward in this emerging scenario, considering our capability to develop software and internet based technologies at low cost, without compromising on quality.

Smart factories and smart cities Under Industry 4.0, factories will become smart by interconnection of autonomous machines which will limit human intervention to the min-

The current realities in our engineering colleges will lead to natural death of many engineering colleges in the near future. The vicious circle formed by poor quality of students intake resulting in poor academic results , unemployment and more drop-outs, as well as more vacant seats resulting in financial crisis which in turn make the colleges unable to attract talented teachers and compromise on essential facilities. No further explanation is needed on these obvious facts.

One year has 8760 hours!

A college working around 200 working days is active only for 1600 hours in an year ( that too not true in a hartal prone state).Out of the 8760 hours in an year the assets are kept idle for almost 85 per cent of the time. In an Engineering college, there are certain laboratories and work shops which need to be utilized only for a few hours in an year.

If this time utility factor is increased, the financial situation, academic results and placement opportunities can be augmented to a great extent. If there is a will, it is possible to increase asset utilization to 20 per cent or 50 per cent.

Some tips are pointed out below.

More courses During the idle time, the class rooms and other academic facilities can be utilized for conducting

other short term courses by the college or external agencies . Such Add-on courses related to the curriculum will brighten the chances for more placements which will result in better reputation.If any rules are against this proposal necessary amendments are to be made by the concerned authorities.

Evening/night courses Factory employees, IT professionals,Hospital Staff, Transport Staff etc. are working round the clock.Then why not grown up students and teachers?. By introducing regular / coaching classes in the evenings or nights , the colleges can generate extra income.

Such courses are convenient for working professionals to re-skill themselves without leaving their employment. Entrance coaching classes/ Coaching for CA, CMA,AMIE etc. can be arranged by the college or external agencies. Preference should be given to courses having global certification or approval of PSC , UPSC etc.

Courses- some samples.

The extra courses to be introduced should have enough scope in the employment market to attract enough students . A thorough awareness on the emerging job opportunities is essential. Presently short term certificate courses on smart phone repair, Optical fibre technology, Lap top maintenance etc .are in good demand. Global Networking Certification courses of Microsoft, CISCO and ERP training courses on SAP, ORACLE are suitable for computer/Elecronics engineers. Courses onData Base Management Systems, Animation, Software testing, Cyber security, Data Analytics, Cloud Computing , Internet of Things etc.also provide lot of employment. Lot of opportunities are there in solar technologies, Safety Engineering, Quality Control, Non Destructive Testing( NDT) and 3-D/4-D Printing (Additive Manufacturing). Modern technologies like Artificial intelligence,

Robotics, Drones, Augmented Reality, Block Chain technology etc, also provide a lot of opportunities.

More skilled labour will be required for maintenance of interconnected home appliances, smart Homes, Building management systems etc.

Polytechnic/ITI Instead of clousure,unviable engineering colleges can be remodelled into polytechnic or ITI wherever possible, as there are many common infrastructure for them.

More technicians are needed for industries than engineers. Even for healthy colleges , running such institutes will result in more improved economy due to pooling of resources. A medical college running a hospital and conducting MBBS, MD,BDS,Bsc Nursing, General Nursing,Optometry,Physiotherapy etc. with same infrastructure is a typical example of efficient asset utilization.

Collaborative research Technically strong institutes can enter into MOU with needy industries for research and development activities .This will generate more income and provide opportunity for skill enhancement for students and teachers

Sponsored training by industries In the next five years 15 million skilled workers are needed for the automobile industries in India.

There exists huge skill gap between the requirement for state- ofthe- art vehicles and the trainings imparted in the institutes. Hence Maruti Suzuki, Hundai, and TVS have collaborated with technical institutes in Punjab, UP, Tamil Nadu, West Bengal, Gujarat etc.to train prospective employees. This model can be emulated for mutual benefits.

Production centers Colleges can be attached to their own manufacturing centers wherever possible. This will provide

15

March 31, 2017

exposure for the students to industries and the production experts can contribute to the training of students also.

neering , management and government jobs..Placement departments can organize mock interviews also to help the students.

Hands on training

Start-up culture

Currently engineering students hardly get real life experience during the course work. I remember scrap machines including damaged air crafts were made available to students during my studies in the IIT Madras. Seeing and working on such equipments build up confidence and physical sense.

It is not difficult to get a damaged transformer or compressor at nominal or free of cost.

Some of the academically weak students can be efficient entreprenures . A general Knowledge of engineering is enough for them.

Collaboration with related industries, IT Parks, Bio Parks etc. will be helpful. Activities can be organize in line with the center’s Start Up India Mission.

Exposure to latest developments

Idle assets for hire

Alumni can pay back

Hiring of auditorium for weddings and courts for sports and games events when not needed by the students will generate additional income.

Every alumnus will be interested in sustaining the glory of their almamater. They can help by providing placements , technical collaborations and sponsoring of activities.

Faculty from industry and vice versa

It is a social problem too

Massive Open On-line Courses ( MOOC) Lectures by expert teachers on specific topics are available through the internet . MOOCfacility,if arranged can enhance the capability of the students.

Chat bots and mock interviews There are robotic tuition masters in the web like prepath on which will help the users preparing for examinations for banking ,defence , engi-

Industrial experts are good at teaching applied sciences. Interaction with Industry will enhance the capabilities of regular teachers.

Healthy Interaction , Schemes will be beneficial to all.

Replace stale courses in time

In the dynamic job market, some courses will become obsolete from time to time. It is wise enough to replace such courses with new promising ones.

New developments in technology and society and consumer behaviour should be brought to the notice of the students through talks by the external experts . Interested students and teachers should be encouraged to present the new developments.

Now a days it is very easy to secure B.Tech Admission since it is almost a non- stop all- promotion journey. However it is impossible to pass engineering degree without fair knowledge of atleast integral calculus and trigonometry. Those who are pushed to engineering col-

PASSLINE

leges, due to parental compulsion or peer pressure should have decent escape routs. Once a B.Tech student, one will not go for doing manual jobs in our society. Policies are to be framed out toutilize the B.Tech drop outs properly.

Let only the fittest survive Education can be a noble business if only it is done properly. If there is no potential for existence and will for healthy changes no effort is to be wasted for survival of such institutions.

Let us think of better methodologies for raising the academic standards, improvement in goodwill and reputation and better placements resulting in more intake of students. All these will culminate into healthy financial results, which is necessary for the sustenance and growth of any institution. The prevailing rules and regulations formulated earlier relevant for those days have to be amended, if necessary, considering the present realities and requirements, by the concerned authorities. www.pattimattom.8m.com

16 E PAYMENTS

March 31, 2017

PASSLINE

Irony of digital payments Passline News Service

E

lectronic transactions are rising fast, so are cases of payment failure and delayed settlement. One needs to be proactive, The government’s demonetisation drive has forced people to adopt digital payments. But as the numbers of electronic transactions are rising rapidly, so are issues related to those. While shopping online, Ms Mini used a mobile wallet for payment. The service provider emailed that her transaction was successful. But the online retailer claimed it didn’t receive the money.

It has been over a week and she has no clue where the money disappeared.

“Depending on the instrument used for a transaction, it can take from a few seconds to seven working days for settlement. If it takes longer, the money usually is in a pool account that wallets or banks maintain with the payments network provider,” says Hari Velayudan, head-service delivery at PayU India.

The Reserve Bank of India has timelines for reconciling failed ATM (Automated Teller Machine) transactions. No such guidelines have been issued for newer instruments such as wallets or unified payment interface.

Banks need to reconcile failed ATM transactions within seven working days after a customer has lodged a complaint. Else, there’s a penalty of Rs 100 each day of delay.

Claiming your funds If you or the vendor has not received money within two to seven days, depending on the transaction, you should approach the wallet service provider.

“After demonetisation, the volume of transactions has increased 10 times but the headcount has only gone up by 1.5 to 2 times. Some players might therefore take longer to resolve transaction failure queries,” says Akash Gupta, vice-president (marketing), MobiKwik.

But wallet players are increasing headcount rapidly.

Before November, the MobiKwik team had 160 employees and by

Marche n d , the count could touch 1,000.

If you don’t receive a satisfactory response at first level, escalate the issue.

“Every wallet player has grievance redressal guidelines on its Web site that provides contact details of different authorities,” says Vinay Kalantri, managing director, The Mobile Wallet.

The final authority for resolving problems with most is the Grievance Officer.

“If customers are not happy after escalation, they can approach the grievance cell of the RBI,” says the Freecharge spokesperson.

Sony Joy, co-founder and chief executive of Chillr, says posting on the company or bank’s social media pages can help in quick resolution.

“Brands are very cautious about their social image. A user should reach out to the brand through their social media handles if it has taken more than seven days.”

While seven days are the maximum it should take for you to get your money back in most cases, you should start following up with the wallet provider after 48 hours.

Transfers via net banking When an individual transfers money from a bank account to a wallet via net banking, it happens in a two-step process.

There’s a payment gateway between the two, which fetches money from the bank and forwards it to the wallet.

A transaction failure can happen after money leaves the bank account

but doesn’t reach the payment gateway due to bad connectivity, server problems, etc.

Payment gateway companies settle payments with banks every day. A user should get his money back in the bank account within two business days.

If not, he should start following up proactively.

If the failure happens after the payment gateway receives the money, the funds should reach the wallet within two business days.

“The individual needs to contact the wallet company to help resolve the issue,” says Velayudan.

Deepak Abbot, senior vice-president at Paytm, says delays are only experienced when a customer transfers money to a bank from the wallet.

“Delays are often due to queues at the bank level to process the refund. We immediately issue a reference number to the customer, which can be quoted to the bank for faster redressal,” says Abbot.

“Paytm has no control over a bank’s processes. We can only guide the customers who reachout to us,” adds Abbot.

Transfers via cards The process is similar to transfers done using net banking.

But it can take as many as seven

busin e s s days for the money to reach back to the user’s bank account or card.

It depends on the process an individual’s bank follows.

Some banks have a central pool, from which the money is transferred to the customer’s account.

Some also have individual pool accounts for each branch.

In such cases, it can take longer for a person to get his money back if transactions fail.

Failure at merchant If you pay a merchant using a wallet and the transaction is not completed, as with Kohli, the funds should be back in your wallet immediately.

A merchant only accepts payment from a wallet if it is on the same platform.

As there are no other parties involved, it should take a few seconds for the transaction to reverse.

An individual should seek the help of her/his wallet the next day in such transaction failures.

This is also applicable when you have done a booking for a bus, train or flight using a wallet, but later cancel the tickets.

Once the merchant issues a refund, it should not take more than a few minutes to reflect in the individual’s wallet.

“In the digital space,” says Gupta of MobiKwik, “a person needs to be cognisant and watchful, as it is a relatively new way of payments.

The systems and processes of digital payments players are evolving.”

17 TIPS

March 31, 2017

PASSLINE

10 tax-planning tips to make your investment grow further

This deduction is on the cheapest loan an individual in India can avail! If the home is bought jointly with your spouse you can double the deduction if both of you contribute to the loan EMI. A good incentive to build an expensive and emotionally important asset, do not miss out on the tax break which will reduce your effective interest cost.

D

o not skip checking the conditions that are attached to most deductions. Used prudently, deductions can ensure a large tax free income All investments proposed or made are analysed based on the returns.

Ideally these would factor for the risk as investors are rightly concerned about safety and return on capital invested than just the returns on their capital.

An aspect that is commonly ignored in the quest for higher gain is the effect of taxes on the returns earned. Post tax returns are the final and real returns earned. Pretax returns are only nominal, not real returns. A few suggestions on how to make your investment rupee go further and get you a final figure return worth considering.

1. Do not ignore the impact of tax on your returns, at your tax slab.

Calculate the final, post tax returns that your investment will earn. For example, 8 per cent taxable return will earn between about 5 and 7 per cent depending on your tax slab.8 per cent tax free, as in the Public Provident Fund (PPF) is a full 8 per cent, no discount.

2. Do not miss opportunities to cut down the cost of your investment.

Any discount earned impacts your investment in two ways: it pushes up your earnings beyond the stated rate as the returns are paid on the full value, while the discount is free money returned upfront. The redemption amount is also the full value, without considering the discount given earlier.

Section 80C of the Income Tax Act provides deductions of up to Rs 2 lakh on qualifying investments and expenditure. Go the whole hog and do not leave any of your qualifying investment go unutilised.

How you can get up to Rs 7 lakh+ tax exemption 3. Do not ignore the alphabet soup that goes from section 80C and goes to 80U. Section 80D is a deduction on medical insurance premium paid. 80DD and 80DDB are for treatment of handicapped and specific diseases respectively. Every tax payer should take advantage of 80D as planning for medical emergencies and the discount from the tax deduction.

4. Section 24 is a wonderful deduction.

from the government. Donations to qualifying charities get a deduction of the entire, or 50 per cent of the amount (depending on the kind of charity) donated, under 80G. Do not tighten your purse strings.

The interest paid on your home loan, up to Rs 2 lakh a year is deductible. This deduction is on the cheapest loan an individual in India can avail! If the home is bought jointly with your spouse you can double the deduction if both of you contribute to the loan EMI. A good incentive to build an expensive and emotionally important asset, do not miss out on the tax break which will reduce your effective interest cost.

Advance taxes are to be paid on your income four times a year. If you have income besides salary, calculate your dues and pay taxes in time. Delayed payments cost interest and penalties.

5. Keep a track of the purchase dates of your assets.

8. Do not hide any income from the taxman.

Special rates are offered as ‘long term capital gains’ tax on assets held beyond a threshold. Equity shares and equity mutual funds on which Securities Transaction Tax (STT) is paid offer tax free status on profits if they are sold after a year.

Besides payment of tax being a patriotic duty, the cost of being caught with income not declared can be expensive. It is very difficult to hide streams of income as the income tax department has excellent technology to track your income.

Property held for two years, as proposed in the Union Budget 2017-18 and other assets held for three years also qualify for long term capital gains status and substantially lower taxation, Gains, or profits made can be set off against losses on other investments. Losses can also be carried forward for eight years. Do not bury your past mistakes but track them to reduce taxes when you make profits.

How to pay tax and claim deductions for joint home ownership 6. Contributing towards making the world a better place gets a reward

7. Do not delay your tax payments.

9. Structure your salary for tax efficiency from perks.

Do not go with a vanilla salary structure when you can enjoy many legal deductions by routing purchases like a car and hiring a driver, through your employer.

Leave Travel Allowance (LTA), medical allowance and deduction for education will cut your tax bill.

Dummy’s guide to tax-filing documents 10. Do not miss out on House Rent Allowance (HRA) for tax saving.

HRA in your salary can make a big dent in your tax bill. Taxes can be reduced by paying rent even to your parents or spouse, if they own the property you reside in.

18 INSURANCE

March 31, 2017

Demand for Insurance doubled amid demonetisation drive

I

nsurance companies are enjoy enjoying a spurt in business with the premium collection of life insurance companies more than doubling in November. Gross written premium for general insurance companies rose by 29% year-onyear last month.

Investors are seeking higher returns as banks have been compelled to cut deposit rates amid a deluge of deposits in INR1,000 and INR500 currency notes. The Indian government, in a demonetisation drive, declared notes bearing two denominations to be non-legal tender wef 8 November. Indians were asked to either exchange old notes for new, or deposit old notes into bank accounts.

The combined premium collection for all life insurers rose to INR 16,061 crore (US$238 crore) in November from INR7,553 crore a year ago, report says. Life Insurance Council Secretary General Mr V Manickam said that this was largely driven by the success of Life Insur-

ance Corporation of India’s sinsin gle-premium annuity plan Jeevan Akshay. LIC amassed premiums of INR12,528 crore in November, compared with INR5,182 crore in same month last year, after the State Bank of India slashed bulk deposit rates by nearly 200 basis points. LIC announced the new Jeevan Akshay scheme with an average return of 7% from December.

The deposit rate SBI offers at present is at most 7%, after the latest cut in the middle of last month.

The general insurance sector recorded a 29% rise in gross written premium to INR9,147 crore last month. However, non-life insurance, which acts as a proxy for industrial activities, may not sustain this momentum. Car premiums, which account for more than half of general insurance business, may trigger the fall with a 5.5% dip in car sales in November. “There could be 2-3% impact on general insurance business,” said Mr Tapan Singhel, Managing Director of Bajaj Allianz General Insurance.

PASSLINE

Govt study moves for insurers to invest in start-ups

T

he Indian government would consider measures that could, among other things, enable pension funds as well as insurance companies, such as LIC, to invest in start-ups, according to Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek.

“Their money needs to be leveraged (for start-ups),” Mr Abhishek said at a conference earlier this month, according to local media reports. Mr Abhishek, who is in charge of DIPP, the central government department promoting start-ups and the related policy “Start-up India”, was responding to a

query raised in the conference. Mr Murthy had said that large insurance firms, such as LIC, invest mainly in stock markets and in big companies that are in sectors such as cigarettes, but not in start-ups.

The general opinion evolved in the conference was that, though insurance and pension companies have a large pool of funds, it has so far been very difficult for startups to access the money due to complicated government regulations and the necessity for the opening up of both pension & insurance funds for start – ups was also mooted in the conference .

IPOs of state-owned insurers to be staggered

T

he public listing of five government-owned non-life insurance companies in India will most likely be staggered with the country’s largest general insurer and only state-owned national reinsurer to be the first to go public.

New India Assurance and General Insurance Corporation of India (GIC Re) are likely to be listed in the financial year ending 31 March 2018 with the others listed in subsequent years, report says citing a senior government official. The

other three state-owned insurers slated for an IPO are Oriental Insurance Company, National Insurance Company, and United India Insurance.

“The aim is to complete the process of listing of at least two players by March 2018. Solvency and underwriting performance are the top criteria,” said the senior government official.

The reason for the staggered listing process is to give investors enough time between each initial offer. A final note on the process

and structure of the listing of the five entities will be circulated by the government among stakeholders in the next few weeks. Among other reasons for the staggered process is the fact that the solvency ratios of two of these insurers namely National Insurance (126%) and Oriental Insurance (114%) are below the prescribed minimum limit of 150%.

Further, the ministry also wants all the four general insurers to improve their underwriting positions and have a better pricing mechanism to minimise losses, for a bet-

ter picture to be presented at the time of listing.

Meanwhile, the insurers have begun discussions to appoint bankers to handle their IPOs. After bankers begin the process of valuation and take a decision on the extent of the divestment, the respective boards of the insurers will meet to give their approval to the IPO plan. Following this, the insurance companies will need to seek approval from regulatory bodies like IRDAI and Securities and Exchange Board of India.

19 STOCK

March 31, 2017

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100% appreciation for 161 stocks in 12 months Passline News Service Aptech, Lumax Industries, Vedanta, Indian Bank, Venky’s India have appreciated over 200% in a year

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s many as 161 stocks from the BSE 500 and small-cap indices have surged over 100 per cent each in the past one year, amid a strong rally in equity markets. Of these, 30 stocks that include Aptech, Lumax Industries, Vedanta, Indian Bank, Venky’s India, Manappuram Finance, Escorts and Datamatics Global Services have risen over 200 per cent since February 29, 2016, when the S&P BSE Sensex hit a 52-week low in intra-day deals.

By comparison, the benchmark S&P BSE Sensex at around 28,984 has rallied 26 per cent since then.

The S&P BSE 500 index and the S&P BSE Small-cap index have rallied 33 per cent and 44 per cent, respectively. A strong inflow of a little above Rs 90,000 crore (Rs 900 billion) collectively by foreign portfolio investors (FPIs) and mutual funds (MFs) in equities during the past year has fuelled the rally.

Better financial performance by these companies for the trailing

12-month (TTM) period ended December 31 is also partly responsible for increased investor participation. While FPIs have made a net investment of Rs 47,841 crore (Rs 478.41 billion), another Rs 42,990 crore (Rs 429.9 billion) has come from MFs. Sectorally, 17 stocks are from chemical entities and 16 from financials, including banks. Stocks of companies in the steel, pharma-

ceuticals, automobile ancillary and cement sectors have seen good appreciation. Of the 161 companies mentioned, 159 had seen strong 78 per cent year on year growth in aggregate net profit, of Rs 32,546 crore (Rs 325.46 billion) for the TTM ended December 2016. They had profit of Rs 18,208 crore (Rs 182.08 billion) for the TTM ended December 2015. Thirumalai Chemicals, largest gainer among these, has seen its market value appreci-

ate 555 per cent, to Rs 859.

The company had reported a consolidated net profit of Rs 75.8 crore (Rs 758 million) for TTM-2016 against Rs 5.9 crore (Rs 59 million) in TTM-2015. Vedanta has rallied 275 per cent, from Rs 70.85 to Rs 265.35, after the company trimmed its consolidated net loss to Rs 7,448 crore (Rs 74.48 billion) in TTM-2016. It had reported a loss of Rs 16,907 crore (Rs 169.07 billion) in TTM-2015.

Though most experts remain positive on the outlook for Indian equities over the next few quarters, a pick-up in corporate earnings, stable global and domestic macros and flows into the equity segment by domestic institutions and foreign institutional investors remains key for the market to sustain at higher levels, they say.

As regards experts in the market, the flows to continue in the near term, the Investors should not look at a decrease in local flows as a lead indicator for Indian markets -flows will follow returns, rather than the other way round. This means the recent market strength might continue, despite the expected sharp earnings declines ahead .

Jhunjhunwala & his family’s net worth in listed cos surges in recent bull run

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ce investor Rakesh Jhunjhunwala and his family’s net worth in listed companies crossed Rs 10,000-crore, thanks to a sharp rally in some stocks in their portfolio such as Titan Company, Aptech, Dewan Housing Finance Corporation (DHFL), Edelweiss Financial Services, Federal Bank and Escorts.

The combined net worth of Jhunjhunwala and his family came in

at Rs 10,550 crore, based on market prices on the BSE as of last week. The figures are based on the family’s holdings in companies in which its stake is more than one per cent for the quarter ended December 31, 2016.

As on December 31, 2016, Jhunjhunwala and his family’s net worth stood at Rs 9,156 crore. On March 4, 2015, the day the BSE Sensex hit an all-time high in intra-day trade, it was Rs 8,620 crore (based on the March 31, 2015, shareholding pattern), the Capitaline Plus data show.

Since March 2015, Jhunjhunwala and his family added Tata Motors DVRs (3.43 per cent), Federal Bank (2.3 per cent) and Mandhana Retail (12.74 per cent) in their portfolio, while increasing their holdings in Aptech and Escorts.

The recent bull run in the broader market has boosted Jhunjhunwala and family’s net worth more than the market capitalisation of DHFL, Century Textiles, Thermax, Strides Shasun, Dish TV and Union Bank of India.

Thus far, in calendar year 2017, the market value of listed companies in Jhunjhunwala and his family’s portfolio appreciated by an average 15 per cent, as compared to an eight per cent rise in the S&P BSE Sensex.

“The secret of success for investors like Jhunjhunwala and Radhakishan Damani of D-Mart is that they could spot potential multi-baggers early and held on to the stocks for a longer duration than most investors would. This strategy does create a lot of wealth over time, unlike trying to make a quick buck by doing intra-day trading,” explains an market expert. Some stocks in Jhunjhunwala’s portfolio, such as DHFL, Escorts, Federal Bank and Titan Company, are quoting at their respective record highs or close to lifetime highs. All these stocks

have rallied in the range of 30-60 per cent since January.

The family holds equity shares for more than Rs 200 crore in each of these companies, according to the latest shareholding data. In calendar year 2016 (CY16), Jhunjhunwala purchased 2.81 million equity shares of The Mandhana Retail Ventures via an off-market transaction. The shares amounted to 12.74 per cent of the total issued and paid-up capital of the company.

For a noble cause Given that most analysts expect the markets to reach new highs, the ace investor’s wealth is likely to grow. Even then, Jhunjhunwala remains benevolent and pledged last year to donate Rs 5,000 crore or 25 per cent, whichever was lower, of his portfolio on July 5, 2020, the day he turns 60.

According to reports, he supports a number of organisations such as Olympic Gold Quest, Arpan, Agastya and Friends of Tribal Societies, an organisation of the Rashtriya Swayamsevak Sangh. The outfit goes to tribal villages and imparts education and health care.

17 TRADE

November 30 - December 31, 2016

KMA opens forum on changing India

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espite concerns arisen about the impact of demonetization and declining credit growth, current Indian economic scenario has been characterized by optimistic growth and strong macro – economic fundamentals, particularly with tangible progress towards fiscal consolidation and strong balance of payment position. World Bank report on Indian economy says that economy was lifted to a higher growth path by demand from urban households and public investments.

India has been ranked 22nd on the list of the world’s best countries in a report prepared by US News and World Report and BAV consulting in association with Wharton School of Business. In the World Bank’s Doing Business Report 2016, India ranks 130th position, moving up four places from our previous ranking. In this context Kerala Management Association (KMA), the oldest management association in the country, has chosen ‘Changing India – New Paradigms’ as its main theme for its flagship event, 36th Annual Convention 2017, said

Other committee members

Vivek K Govind, Chairman – Convention Committee and Senior VP – KMA. “For India, it is the time for action and the time is now.

We have reached a space where the time for quantum growth and exponential stimulus is a necessity. In this backdrop, KMA picks up the threads of discussion and discourse in its annual conference.

Spirit of discussion will always remain at the macro level policies,” said Prasad K Panicker, Adviser, and Immediate Past President – KMA. The convention is scheduled to be held on March 9 and 10, 2017 at Le Meridien International Convention Centre. “Unlike previous years,

this year the Chief Guest for the Inaugural Session is a yogi and profound mystic of our time .Padma Vibhushan Sadh Guru Jaggi Vasudev, the founder of Isha Foundation.

He is a prominent leader and eminent speaker, who has also addressed World Economic Forum and UN Summit. KMA Convention will be a rare opportunity for the delegates to hear the towering personality like Sadh Guru as the guest speaker in the Inaugural Session. Inaugural Session will also be attended by Padma Sree T N Manoharan, the Chairman of Canara Bank and Past President of ICAI, and VG Mathew MD & CEO of South Indian Bank as Guest of Honour, said Mathew Urumbath, President KMA. “ Apart from two technical sessions touching different topics by experts of respective fields, there will be

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ibhushan Padma VJaggi Vasudev Sadh Guru

panel discussion and will have also talk on the subject ‘ Success and Challenges of the Entrepreneur’ by eminent NRI industrialist and business man Dr P Mohamed Ali, Director Gulfar Group of Companies, and APM Mohammed Hanish, Secretary, Department of General Education,” said R Madhav Chandran, Hon Secretary KMA “KMA Convention has always provided the indispensable forum to deliberate and discuss various contemporary issues that affect business and industry.

KMA is today an umbrella organization of managers from large corporate to small business houses,” said Capt K C Cyriac, Executive Director, KMA.

17 TRADE

November 30 - December 31, 2016

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FISAT Business School (FBS)

ISAT business school which is under the aegis of FISAT is owned, established and managed by the FBOAES. Established in the year 2002 under the aegis of Federal Bank Officers’ Association Educational Society, an initiative of Federal Bank Officers’ Association; it has built a stellar reputation for educational excellence, raising the bar very high for the whole sector.

The college is approved by All India Council for Technical Education (AICTE) and affiliated to A P J Abdul Kalam Technological University it is one of the most sought-after business schools in the state and the only self-financing college with all seats filled. Visionary management and global outlook and perspectives in approach are its key features.

Over the last decade and a half, the institution has, true to its founding objectives, striven to deliver top notch scholastic that integrates seamlessly with an equal degree of extra-curricular brilliance. This is evidenced by the exceptional results the college has posted year after year, clocking an impressive track record of university ranks, and campus placements. Not willing to rest on its laurels, FBS continues its unrelenting journey towards realizing its aspirations for the future, and its steadfast commitment to shaping and transforming its young students into disciplined, and responsible citizens and skilled, highly employable professionals

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National Assessment and Accreditation Council (NAAC)

- paradigm. The unique pedagogy at FBS follows learning— doing — being model which moulds an individual in to an industry acceptable professional with ethical values.

The two years at FBS sharpen the analytical abilities, leadership competencies, computer comfort and

by the University Grants Commission (UGC) of India to assess and accredit institutions of higher education in the country.

Pedagogy The MBA program at FBS is designed to provide the knowledge, attitude and skills that are essential to become an effective leader in a multitude of organizational settings. The emphasis on the holistic development of the students and the curriculum is designed to inculcate a positive and ethical value system The MBA program at FBS is beyond the ‘class room - textbook – faculty

decision- making skills of a student.

Programmed for success:The vision of the FBS is to develop into a distinguished centre for management education, imparting relevant and value-based education in management studies. The institute offers courses that are tailored to equip students with the skills and knowledge to meet the challenges of the new age life and careers.

They provide extensive scope for career enhancement and the creation of aptitude and a comprehensive management knowledge base. The MBA programme offered by the college has come to be considered among the best in the state

FBS is accredited by NAAC with a high CGPA and awarded A Grade, depicting the quality and excellence of the Institute. The NAAC is an autonomous body established

with students from the college bagging many coveted management jobs in leading companies, banks, in and outside the state. Excellent infrastructure highly qualified faculty with an average 18 years of professional experience make them separate from other B-schools.

FBS team led by leadership has received Asia Pacific educationist of the year in Asia for revolutionary contribution in education by ASSOCHAM and education post. The campus is located in Hormis Nagar at Mookkannoor, the birth place of the late K P Hormis, the founder of the Federal Bank, in the suburbs of Kochi, near Angamaly. Just fifteen kilometers from the Cochin international airport and it is well-connected by road, rail and air. Spread over an idyllic landscape of 42 plus acres, the campus is imbued with a refreshing rural ambience and is the centre of bustling student activities. Excellent placement track record and good industry connect are key features which guides the B- school.

Driving innovation

The institute has chalked up an illustrious track record in innovation and unique pedagogy to empower management students into employable leaders. The FBS determined focus on encouraging the spirit of inquiry and innovation stems from the realization that employability is a key factor in the career prospects of hundreds of managers who pass out every year.

17 TRADE

November 30 - December 31, 2016

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17 TRADE

November 30 - December 31, 2016

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17 TRADE

November 30 - December 31, 2016

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HG Academy adventure park

Charity Service PHILANTHROPIC GUESTURE

Then Chief Minister Oommen Chandy inaugurating the 10th aniversary of the distribution of free breakfast and lunch to the inmates of the Mala government hospital and vulunerable public as part of the charity measures adopted by the Holy Grace Academy. The academy has distributed wheel chairs also. The charity gestures have been in practice by the institution for the last 10 years.

This is an exemplary deed accomplished by an academy for the first time in Kerala.

17 TRADE

November 30 - December 31, 2016

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Albertian Institute of Management: B-School that moulds the best management professionals

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lbertian Institute of Management (AIM) Kochi is a NewGen B-School owned and administered by the Archdiocese of Verapoly, which has an inspiring legacy spanning over centuries in the field of education. A premier unit of St. Albert’s College, AIM has been offering two year fulltime MBA Programme approved by AICTE and permanently affiliated to the Mahatma Gandhi University.

By virtue of attaining Autonomous status by the St.Albert’s College, the Albertian Institute of Management also became an Autonomous Institute in 2016. The institute imparts high quality, value-based, industry-focused management education that helps to mould the best management professionals.

The programme lays the foundation for an in depth analytical and conceptual understanding of the Indian and International business scenario. Today, under the benevolent patronage of the most Rev. Dr. Joseph Kalathiparambil, the Metropolitan Archbishop of Verapoly, the institute is marching ahead to higher echelons in the field of management education. Teaching

and learning process at AIM is so designed to achieve excellency by enhancing the knowledge and skills of the students. The objective of AIM is to acquaint the students with the dynamics of the business environment and to develop their strategic thinking, creativity and decision-making capabilities with emphasis on their holistic development, imbibing the mission of the institute.

Credentials of MBA @ AIM: • Emphasis on global outlook and holistic development.

• Collaboration with various industrial sectors • SAP Certification programme.

• Regular interaction with eminent personalities from various industries.

• Located in the heart of the city of Kochi with state-of-art infrastructure.

• Innovative Pedagogy • Core faculty with rich industrial and academic experience.

• Academic proficiency through regular seminars, case studies and conferences.

• Out-bound training programmes.

• Experiential training with live projects.

• Comprehensive and well equipped library with latest books, periodicals, journal and subscription to on-line database like EBSCO and J-Gate.

• On attaining autonomy, the Institute has flexibility in redesigning its curriculum.

Ever since its inception in 2006, AIM has found itself in a continuously evolving business landscape which

is more complex and dynamic than ever before. Located in the heart of Kochi city, with a state-of-the-art infrastructure and core faculty with rich industrial and academic experience, the college stands tall in the field of management education. In addition to the regular faculty there are distinguished visiting faculty from prestigious institutions and organisations. Academic proficiency is achieved through regular seminars, case studies, conferences, etc. There is focus on experiential learning through live projects. A comprehensive and well-equipped library with latest books, periodicals, journals, and subscription to online databases such as EBSCO, J-Gate, D-Space, and so on, make learning more enriching at the campus. Today, the demand is for business leaders with knowledge, skills and perspectives from multiple and divergent disciplines. The MBA programme at AIM is designed and imparted to equip the management aspirants to take on the global business challenges. SAP training programme is imparted to the students to enhance their employability.

According to Rev Fr Antony Arackal, Manager, AIM, Business Management is technology driven and the

focus now is being shifted to ‘profit making through social commitment’. Therefore the vision of AIM is ‘to be a leading B-School of international repute, constantly striving to contribute to societal needs and welfare’. The Institute offers specialization in Finance, Marketing, HR, Information Technology and Production. Industrial Tours and visit are being organized by the institution to expose the students to real time situations. ‘Colloquium, a monthly talk by the experts from the industry is an added attraction of AIM. ‘Aegle’ the annual Management Fest of AIM is well-acclaimed by the student community. The institute brings out a Management Journal ‘Erudition’, which incorporates research articles on various areas of business management and case studies. Students are actively involved in the Corporate Social Responsibility ( CSR ) activities which help them in cultivating the habit of social commitment. ‘Reflections’, the monthly news letter of AIM highlights the activities of the institution and is communicated to the parents. The Institute is a member of professional bodies like Kerala Management Association ( KMA ) and National Institute of Personal Management ( NIPM ). ***

17 TRADE

November 30 - December 31, 2016

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_ MBA @ SNGCE Marching forward with excellence

M. A. Raju, Executive Director, SNGCE

17 TRADE

November 30 - December 31, 2016

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17 TRADE

November 30 - December 31, 2016

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PROBLEM OF WORK-LIFE BALANCE WITH SPECIAL REFERENCE TO INDIAN BANKING SECTOR

Dr V A Joseph

17 TRADE

November 30 - December 31, 2016

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17 TRADE

November 30 - December 31, 2016

‘Management Education in the changing scenario’

Dr Rajagopala Nair Director Albertian Institute of Management, Kochi

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anagement education is going through changes.

The changing scenario offers students more openings, greater self confidence and out of the box ways to better hone their skills. The current trends include internationalization with increased focus on international partnerships, international internships, student exchange programs, joint degrees etc. Also, the use of new technologies in management teaching is a trend that is catching up fast.

Greater use of the social media to establish connection with students is on the rise. More interdisciplinary offerings in classes, for example, where marketing, strategy and OM faculty come together to teach a course, are seen as the way forward because in real life situations most issues have multiple dimensions. Yet another trend doing the rounds is engaging students in games that simulate the need to

find solutions to complex scenarios through teamwork. The earlier craze for management education seems to be over. Students have realised that like in all other subjects, they can get good jobs with management education if and only if they learn something at school.

They are also less likely to be taken in with promises of placements – they use diverse sources of information to check such claims. There are now lots of good European Bschools which are offering management education in English, in addition to the American and Australian B-schools. However, fees tend to be high and financial aid is not readily available. Students can try to work for a few years and save some funds before applying abroad.

According to the author, lack of clarity regarding the expected outcome of the management education programme, disciplineorientation and ivory-tower approach of the academicians, lack of involvement by practitioners in the industry and bias towards conceptual learning are some of the factors hampering the effectiveness of the Indian management education. He gives general suggestions for enhancing the effectiveness of Indian management education including:

a) shifting the focus of programmes from conceptual learning to skill development, attitude change and value classification; b) acquiring a faculty having a greater practical orientation and an interdisciplinary approach; c) establishing greater collaboration between the management institutions and the industry with regard to the design and contact of management education programme’s and research; and gradually discontinuing the government financing of management institutions and encouraging these institutions to generate funds from the industry and the market.

All the aspects of business education such as quality of MBA aspirants, curriculum, business research, quality of research publications, industry-institute interface, management development programmes, placements, compensation packages of B-School graduates, career development trajectory of alumni, diversity among faculty as well as students, governance and accountability etc. are under critical scanner. Indian B-Schools are not untouched by the contextual compulsions of the Management education in the international arena. Indeed, B-Schools in India are facing multiple issues such as proliferation of B-Schools, quality

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of education, faculty shortage, poor regulatory mechanism and governance and accountability.

When Management education began in the early 20th century, there was already a corpus of literature for education, training and further research. Management education, which was originally conceived as an elite educational track, dedicated exclusively to business ( and more precisely to big corporations ), found itself confronted with an ever growing demand from millions of individuals seduced by a promise of a better future, or forced into entrepreneurship and management by evolution of markets. However, Management Education gained real impetus in the last decade of 20th century marked by globalization and liberalization and rise of good number of transnational corporations. Internationalization of labour market, commodity market and capital market created incredible opportunities for all by offering choices at the competitive prices, raising quality of life and aspirations, expanding service sector and providing decent employment to millions of youth. Information and communication technologies revolutionized the way we conduct business.

However, Management Education sector faces greater scrutiny from a wider group of stakeholders than at any time in its history. True, management education has now entered a phase of profound transition driven by globalization, technology demographics and pressing social imperatives.

No other academic discipline has accomplished this feat in less than 150 years of existence. B-Schools of the world symbolize professionalism, flexibility in learning, innovations in curriculum design and pedagogy, and above all – value for money. No wonder, getting into an MBA is the foremost aspiration of youth across the globe today. In the Indian context, management education has become an ornamental degree with less emphasis on professionalism. The quality of intake has deteriorated over the years. The second tier and third tier B-Schools are struggling to get good quality students who are passionate for management studies. A handful of creamy students with a class apart are occupying strategic positions in multi-national and national corporate. A huge bunch of MBAs are either under-employed or unemployed. Some of them have compromised at low salaries in small and medium enterprises.

17 TRADE

November 30 - December 31, 2016

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ICL Medilab to launch 50 EECP centres across Kerala

CL Group, the trusted name in non banking finance sector for more than 25 years now spreads its health care arm - ICL Medilab, the full-fledged medical laboratory offering most modern, diagnostic medi-care services with state of the art equipments. Under the profound guidance of K.G. Anilkumar, Chairman and Managing Director of ICL Group, ICL Medilab aims to provide accessible and affordable health care to all. As a part of it, ICL would be investing nearly Rs 1,00 crore over the next two years to set up a chain of 50 sophisticated Enhanced External Counter Pulsation (EECP) centres across Kerala along with Vaso Meditech, Chennai based and pioneer in NonInvasive cardiac treatment in South Asia. The company will soon open its first multi-specialty EECP centre with sophisticated diagnostics labs and pharmacy outlet in Irinjalakuda, Thrissur in over 2,000 square feet area.

ICL Medilab has signed an exclusive agreement with Vaso Meditech, to promote EECP technology under the brand name of ICL Heal Your Heart, across Kerala. The ICL Heal Your Heart centres will cater to thousands for cardiac patients

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who are not willing for or high risk for bypass surgery or angioplasty treatment. This treatment will also be a hope for patients who have chest pain and shortness of breath even after surgical and angioplasty treatment. Currently Vaso Meditech is running 25 EECP centres across three states including various Government Medical colleges in Tamil Nadu.

“We are extremely pleased to join hands with Vaso Meditech and look forward to a long and successful relationship. Through this association, we are in a position to provide innovative and cost effective solutions in healthcare and will focus to improve the cardiac patients quality of life and overall heart and blood vessel function,” said K G Anilkumar, Chairman and Managing Director of ICL Group. “The strategy will be to create standalone EECP treatment centres and also provide this treatment in tie up with hospitals and Medical colleges at their facility through a franchisee agreement. The franchise model will be followed to achieve our goal for 50 centres within two years. Vaso-Meditech Enhanced External Counter Pulsation (EECP) is a non surgical safe and effec-

tive treatment for patients with blocks in their blood vessels, which carries blood to the heart muscles ( coronary artery disease) and patient with poor heart pumping function ( Heart Failure). The treatment doesn’t require hospital admission and it is administered as day care treatment one hour a day for 35 days in a specialised set up, monitored by trained certified physicians”. Headded “In just 2 weeks time patients endurance and exercise ability greatly enhanced and their cardiac symptoms like chest pain, shortness of breath, inability to do their routine activity improves,” said Dr Ramaswamy, Director of Vaso Meditech. He added that EECP treatment is actually an approved treatment like Bypass and Angioplasty. The treatment is USA FDA approved and now currently recommended by cardiology

guideline of both American and European cardiology. The treatment is also covered by some Insurance company in India and also its a state treatment programme in TamilNadu where 11 TN Government Medical college Hospital has EECP treatment ward. EECP treatment is also included and covered

by State insurance policy.

“We offer not just diagnostic services to a wider set of customers.

Instead, ICL Medilab exists for a reason, to increase the overall health of the society by consistently providing the best option for quality health care at affordable cost”. Said Uma Anilkumar, CEO of ICL Group.

17 TRADE

November 30 - December 31, 2016

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Challenges of entrepreneurial education in professional colleges of Kerala

By Dr Joseph Cherukara

17 TRADE

November 30 - December 31, 2016

Dr Joseph Mathews Cherukara has more than 4 decades of entrepreneurial experience in different industrial sectors and out of that almost 25 years, he was in a leading capacity with printing industry. He has long experience as management consultant and was an approved consultant by K-BIP, Industries Department, Government of Kerala, for management and cluster development.

Dr Cherukara is approved by Entrepreneurship Development Institute of India as Faculty for Faculty Development Program in EDP. He has long experience in teaching management students in various institutions and has been Adjunct Faculty

for Business Management, Marketing Management, International Business, Entrepreneurship Development, etc in different business schools and entrepreneurship development programmes.

A Graduate in Science, Post Graduate in Management, and M Phil in Entrepreneurship (MKU), has got Ph D (CUSAT) in the topic ‘Factors Leading to Entrepreneurial Success—Study based on MSMEs of Kerala’.

He has published several papers in management and entrepreneurship in various national and international conferences, and listed journals. The paper titled ‘Medical

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Tourism in Kerala— Challenges and Scope’ had wide references around the world and got 15 citations as per scholar.google. Dr Cherukara is a popular author in global scientific author’s societies such as Academia.edu (US) and Research Gate (Germany) and was listed by Academia.edu among top 1% of its global authors for 30 days in Jan-Feb, 2017. He is an active member of Kerala Management Association, and presently member of MSME Forum of KMA. Dr Cherukara is also in the process of developing suitable curriculums for EDP of professional colleges]

17 TRADE

November 30 - December 31, 2016

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Prime Roofing: tapping the Global market with innovative products

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he demand for roofing sheets has increased manifold globally. The only hitch for currently available roofing sheets in the market is they are not water proof. Usually roofing sheets are being used for preventing the leakage in industrial as well as concrete residential buildings. Currently available sheets are fixed on the roof by screwing it with the frame of roof which increases the possibility of the leakage in due course. The slight lag in the work makes the havoc or the hole making on the sheet will become enlarged due to the wear and tire is another reason for the leakage. Or the rusting up of the screws also will end up with the leakage. Naturally, the arrival of water proof roofing sheets in the market will be a boon for the consumers .

Prime Roofing, the age-old trusted brand in roofing sector, realised the dream of 100% water proof roof by introducing ‘Aqua Proof ‘ brand in the market. The company is doing the last touch up for Aqua Proof before its bang in the market. “Aqua Proof has been accepted and got the patent from 36 countries worldwide including the US. As far as Kerala is concerned Aqua Proof will be a relief for its customers since the state has torrential rain for six months in a year”, said Joseph Mathew Sankurikal, the Managing Director of Prime Roofing.

Apart from Aqua Proof the company has been working on a product that will make revolution in the residential building segment.

Aqua Proof Aqua Proof is also fitted by screwing it on the frames, like any other

conventional roof tops available in the market.

Previously there was a product in the market called ‘ Clip Lock ‘.

It was used by putting a clip from bottom and insert it from top side.

But, the issue is, this product cannot withstand the wind blowing powerfully. The roof will be taken off by the strong wind. Another product called ‘standing seam’ is also available in the market. For this product we cannot fix the insulated panels which prevent heat.

But, Aqua Proof is designed by rectifying all these draw backs.

The electro plated screws are used for fixing Aqua Proof on the frames to make sure that screws will not be rusted. The leakage will be prevented by the capping system on the screws. The Aqua Proof can be fixed at any length and where ever we want, is another peculiarity of this product. We can fix insulated sandwitch panels of 25 cm to 75 cm on this. If someone does not want insulated panels he can use it as merely a roof top.

Fixing solar panels on the roof of the building is usual nowadays.

The general practice for laying panels is putting holes on the roofs and fixing panels by the help of square tubes. Naturally, after one or two years the possibility for the leakage is high in this case. But, in Aqua Proof we can fix the clips on it, after laying solar panels on Aqua Proof, one should lock the clips fixed on it to tighten. The company is ensuring that even the wind blowing at 200 kilometres will not shake the panels. Powdercoated clips are being used for this purpose. The panels can be fixed even without putting holes is the additional advantage that provided by Aqua Proof.

The Aqua Proof can be used as roof or wall cladding and the ribs between it can be painted with different colours. The screws are applying on the alternative ribs on it.

So, the capping system is a must for it. We can also use the caps continuously if necessary. Joseph Mathew anticipating that Aqua Proof will become the darling of the market since, the possibility for using the product in any colour surface and the number of ribs to

be used has not been restricted .

The price wise also Aqua Proof is affordable for common men; product has merely 12% higher than the price of any other roofing sheets available in the market though it has 100% leak resistant capacity.

Apart from that, the manufacturers are assuring life time warranty for the product.

Capturing Global market Along with Indian market Aqua Proof is aiming for 36 countries.

Though the product is yet to introduce in Indian market, the export enquiries are pouring in, due to

manufacture a Larry Baker model bricks which can be used as alternative for the construction of walls.

This will give a feel of original bricks as appearance wise and tangible wise. Per sq meter this product will have below 10 kilo weight and the length will be 12 meters. Joseph Mathew asserts the appearance of the wall sheet as original bricks after the construction. The consumer can fix the windows and doors as per his priority and wish.

The manufactures are also giving assurance that it will reduce the heat than the 9-inch ordinary wall .

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onfidence was the only capital for Joseph Mathew Sankurikkal when he entered with prime roofing in the market. Though he has two and half decades of experience in roofing sector, literally he was taking a big risk to commence an industry , while the world was reeling under economic recession. He gave up the safe and promising employment in Gulf Country. He was working with RH Profiles , a renowned company in the Middle East as a structural engineer. While he was quitting the job he was working as CEO of Kirby Buildings , the second largest company in the world in Pre Engineered Steel Building manufacturing. To begin a industry in a place like Kerala that too at the time of financial slowdown was discouraged by his well wishers . But, he was adamant and confident about his decision and the industrial friendly atmosphere of Kerala. He did not turn back; went ahead with the idea of Prime Roofing. Today Prime Group companies have four factories in India and three factories abroad, this was possible only because of his ability to walk before the time. the quality of the product. The Indian-made product will launch the manufacturing facilities in foreign shores by gauging the demand of the product there.

Nature friendly Wall Sheet Most of the houses and buildings are being constructed by wounding the nature. We are intruding into the boundary of natural protection for all the ingredients like wood, sand and stones to fullfill our dream for the home. That thought has provoked Joseph Mathew to invent a nature’s- friendly product like Wall Sheet.

Now Prime Roof is intending to

Presently, after constructing the wall we have to do the ACP which costs you Rs 200 per sq ft , this cost will actually incur after the construction of wall which is an addition. But, in the case of wall sheet we can use it even without the structure of the wall, as a alternative for it. Joseph Mathew sharing the view that , in very near future buildings will be constructed even without sand and cement with a revolutionary product like wall sheet. Making bricks pattern a grand success , next phase, he will transfer the technology to granite and marble patterns.

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

PASSLINE March 31, 2017

PROGRAMME STRUCTURE 9th March 2017 17.30-20.30

:

10th March 2017 9.30-11.00

:

11.00-11.30 11.30-13.00

: Networking Break :

13.00-14.00 14.00-15.00

: Networking Lunch Break : Panel Discussion:

15.00-15.45 15.45-16.15 16.15-17.30

The Entrepreneurship Revolution : ‘My Story’ Session : Networking Break : Valedictory Session

Dr. Anuradha Balaram

Former Member Secretary & Chief Economic Advisor - Kerala State Planni Planning Board

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