Association of Innovative Managers

Syndicate Bank appointed Madhukant Girdharlal Sanghvi as its New Chairman

2012-03-01T02:14:00.000-08:00

Public sector lender Syndicate Bank on 29 February 2012 appointed Madhukant Girdharlal Sanghvi as its new Chairman and Managing Director. Sanghvi would take the charge on 1 March 2012 after the superannuation of incumbent chairman Basant Seth.

Sanghvi, before this appointment, was the Executive Director of Bank of Maharashtra. In his 31-year long career in banking he has been attached with various banking organisation in different capacities.
Sanghvi started his banking career in 1980 with Bank of Baroda. He later moved to Dena Bank and went on to become a General Manager of bank in 2003. Sanghvi was appointed the Executive Director of Bank of Maharashtra in 2008.

US Banking Major Citi Group sold Stake in HDFC for 1.9 Billion Dollars

2012-02-28T01:28:00.000-08:00

US banking major Citi group on 25 February 2012 sold its 9.85 percent stake in HDFC, India’s biggest mortgage lender, for around 1.9 billion dollars.
Citi group, the third largest lender of US by assets, was in alliance with the HDFC for last seven years. The sale of stake has come as the part of company’s strategy to disinvest in order to raise the capital as Citigroup faces a potential multi-billion-dollar writedown of its minority stake in Morgan Stanley Smith Barney brokerage.
Citi group, by selling its stake in HDFC, has joined the league of European and American banks like HSBC and Goldman Sachs who have also sold their Asian assets as global rules for higher risk buffers force lenders to raise their capital

Prime Minister's Economic Advisory Panel projected 7.5 - 8 % Growth Rate for 2012-13 Fiscal

2012-02-23T02:45:00.000-08:00

The Prime Minister's Economic Advisory Panel (PMEAC) on 22 February 2012 projected 7.5 - 8 per cent growth rate for the fiscal 2012-13. India is also expected to achieve a higher economic expansion if the global environment turns favourable. Indian economy was growing at over nine per cent before the financial meltdown of 2008 pulled down the growth rate to 6.7 per cent in 2008-09.

The economy recorded a growth rate of 8.4 per cent in 2010-11, which according to the CSO estimates is expected to moderate to 6.7 per cent in the current fiscal 2011-12.

As per the Review of Economy (2011-12) released, the growth rate in 2011-12 is likely to be 7.1%, marginally higher than 6.9 per cent projected by the Central Statistical Organisaton (CSO).

Inflation was projected to moderate to 6.5% by March 2012 and 5-6 per cent in 2012-13. While the retail inflation based on Consumer Price Index (CPI) was 7.65 per cent in January, the Wholesale Price Index (WPI) inflation was 6.55 per cent.

Moderation of subsidy is expected to have a positive impact on manufacturing. It is also likely to help in softening of monetary policy. A need to make adjustment on the sale of petrol, diesel, gas and kerosene to reduce the huge burden of subsidy was also felt.

The negative developments in the Eurozone outweighed the small improvements in evidence in the US economy. The PMEAC projected the US economy to grow by more than the 1.8 per cent projected by the International Monetary Fund in September 2011 and reiterated in January 2012.

Analjit Singh to be non-executive chairman of Vodafone India

2012-02-12T20:49:00.000-08:00

The Vodafone Group Friday named Analjit Singh as the non-executive chairman of its India operations.
Singh, a leading industry figure in India, is the founder and chairman of Max India Ltd as well as its subsidiaries such as Max New York Life Insurance Company Ltd, Max Healthcare Institute Ltd and Max Bupa Health Insurance Company Ltd.
"Analjit has been a longstanding, reliable and trustworthy partner in India," Vittorio Colao, chief executive of the Vodafone Group.
The appointment is effective Feb 16, following approval from the board of Vodafone India.
"Analjit knows our business well, having been the founder and chairman of Max Telecom, the business which has grown to become Vodafone India with nearly 150 million customers," said Nick Read, CEO of Vodafone's Africa, Middle East and Asia Pacific region.

74 dead in Egypt's worst soccer disaster

2012-02-02T20:52:00.000-08:00

Seventy-four people were killed and at least 1,000 injured on Wednesday when Egyptian soccer fans staged a pitch invasion in the city of Port Said, the deadliest incident since the ouster of President Hosni Mubarak from power.
Angry politicians decried a lack of security at the match between Port Said team al-Masry and Cairo's Al Ahli, Egypt's most successful club, and blamed the nation's leaders for allowing - or even causing - the tragedy.
"Down with military rule," thousands of Egyptians chanted at the main train station Cairo where they awaited the return of fans, quickly turning the biggest disaster in the nation's soccer history into a political demonstration against army rule.
"The people want the execution of the field marshal," they shouted, turning on the ruler of the military council, Field Marshal Mohamed Hussein Tantawi, who tried to assuage anger by vowing to find the culprits in a phone call to a TV channel.
The post-match pitch invasion provoked panic among the crowd as rival fans fought, with most of the deaths among people who were trampled in the crush of the panicking crowd or who fell or were thrown from terraces, witnesses and health workers said.

HCL to create 10,000 jobs in US, Europe over 5 years

2012-01-27T00:25:00.000-08:00

In one of the biggest announcements related to job creation here at the World Economic Forum, Indian IT major HCL Technologies today said the company will create 10,000 local jobs in Europe and the US over the next five years.
Terming it a socially responsible business model for growth, HCL Tech Vice Chairman and CEO Vineet Nayar said the company would create these jobs for fresh engineers through partnerships with educational institutes, local governments, local communities, customers and others in these regions.
The announcement came a day after German Chancellor Angela Merkel said here at the WEF Annual Meeting 2012 that Europe would work toward becoming a benchmark investment destination on the global arena, but she would want foreign companies coming there to create jobs as well.

DC Avanti: India's first Super car

2012-01-18T02:36:00.000-08:00

The well known Indian automotive design house, DC Design has unveiled its supercar called the Avanti. According to reports, the car has been named after the Studbaker Avanti that appeared in Tintin comics. The idea behind the Avanti, which means 'forward' in Italian, is to make affordable supercars and the car is expected to be priced at Rs 30 lakh, it was reported.
The car was unveiled by Amitabh Bachchan and will initially come powered by a 4-cylinder turbo petrol engine from Ford, and later a turbo V6 Honda engine. The 4-cylinder turbo petrol will make 265 hp, while the V6 engine will make 400 hp.
The Avanti is expected to do a sub-seven second zero to hundred timing. These engines are mated to a 6-speed dual-clutch transmission system. According to the reports, the engines are being tuned in the UK and will be shipped to India in crates where they will be installed the cars. Much like the engines, most of the other components that go into the cars will also be imported into the country. However, the body and interiors are being manufactured at DC's Talegaon plant in Pune. The body shell is made of aluminium, while the body panels are made of GRP.

Indian bureaucracy rated worst in Asia

2012-01-11T22:04:00.000-08:00

Indian bureaucracy is the worst in Asia with a 9.21 rating out of 10, according to a report by a prestigious consulting firm based in Hong Kong.

India fared worst than Vietnam (rated at 8.54), Indonesia (8.37), Philippines (7.57) and China (7.11), said the report by Political & Economic Risk Consultancy Ltd released on Wednesday.

Singapore remained the best with a rating of 2.25, followed by Hong Kong (3.53), Thailand (5.25) Taiwan (5.57), Japan (5.77), South Korea (5.87) and Malaysia (5.89).

The report said India's inefficient bureaucracy was largely responsible for most of the biggest complaints that business executive have about the country.

The complaints included inadequate infrastructure and corruption, where officials were willing to accept under-the- table payments and companies were tempted to pay to overcome bureaucratic inertia and gain government favours.

The report also highlighted onerous and fickle tax, environmental and other regulations that could make business in India "so frustrating and expensive".

It said dealing with court system in India was an unattractive option for companies, and would be best to avoid it.

The bureaucrats were rarely held accountable for wrong decisions and it would be extremely difficult to challenge them when there were disagreements.

"This gives them (bureaucrats) terrific powers and could be one of the main reasons why average Indians as well as existing and would-be foreign investors perceive India’s bureaucrats as negatively as they do,"

But there were plus points when India was compared to countries within the economic development group. In the 2011-12 Global Competitiveness Report of the World Economic Forum, India ranked behind China but ahead of Russia and Brazil for the burden of government regulations as well as for the burden of customs procedures.

India was also second to Brazil but well ahead of China and Russia for the quality of regulation and supervision of the securities exchange.

India was also better than Brazil, Russia and China as the fastest place to set up a new business and to deal with construction permits, and was the second fastest place to deal with export and import procedures.

Bajaj Auto launches ultra-low-cost car RE 60

2012-01-04T23:10:00.000-08:00

Bajaj is India's second-largest two-wheeled vehicle maker, and is the world's leader in the three-wheeled vehicle segment, which includes the popular rickshaw taxis used across Asia's third-largest economy.

Bajaj Auto Ltd launched its first-ever four-wheeled vehicle, saying the RE60 would target commercial users and three-wheeled vehicle owners in India, and that production could involve Nissan and Renault.

The unveiling of the four-seater RE60 ended months of rumours that have buzzed around India's auto industry on the nature of the vehicle, which promises low carbon emissions and fuel efficiency, the company said in a much-anticipated launch

The vehicle resembles an over-sized hatchback with an elevated roof. France's Renault SA and Japan's Nissan Motor Co, who worked with Bajaj on developing what was slated to be an ultra low-cost minicar, will decide on co-operation on the RE60 in the next few days, Bajaj Managing Director Rajiv Bajaj said.

Made in India, faked in China - $5-bn loss

2012-01-02T21:27:00.000-08:00

Chinese manufacturers are increasingly 'faking' popular Indian products of consumer goods giants such as Dabur and ITC, undermining the legitimacy of brands and causing losses worth as much as $5 billion annually, officials said.

'A lot of counterfeit Dabur products are made in China. We have conducted at least 20 raids in China but no proper action has been taken by the Chinese,' said Ashok Jain, general manager of finance at Dabur India, the country's fourth largest FMCG firm.

He said such fake products manufactured in China with 'Made-in-India' tag are supplied across the world, mostly in India and African countries.

'It causes huge damage to the brand. Those fake products are obviously not up to our standards and supplied at very low prices,' Jain told IANS.
Dabur, which has nearly $4 billion market capitalisation, operates in key consumer product categories like healthcare, skin care, hair care and oral care. The company's revenue last fiscal was $910 million.

Goel said the big international brands like Nokia, Adidas, Reebok and Nivea were also widely counterfeited in China and supplied in India and other parts of the world.
Chinese manufacturers are also faking drugs, endangering lives of patients. Fake drugs, carrying 'Made in India' tags, supplied from China were recently detained in Nigeria and other African countries.
K.K.
According to a report by think tank Indiaforensic Research Foundation, the total loss to the economy annually due to crimes such as counterfeiting, commercial fraud, smuggling, drug trafficking, bank fraud, tax evasion and graft is estimated at Rs.22,528 crore.

Foreigners can now invest directly in Indian stocks

2012-01-01T23:47:00.000-08:00

The government gave a New Year gift to the stock markets by allowing qualified foreign investors (QFIs), including overseas individuals, to invest directly in Indian stock markets. So far, QFIs were permitted to invest only in mutual fund schemes.

"As a next logical step, it has now been decided to allow QFIs to directly invest in the Indian equity market in order to widen the class of investors, attract more foreign funds and reduce market volatility and to deepen the Indian capital market," the finance ministry said in a statement. Detailed norms are expected to be issued by the Securities and Exchange Board of India (Sebi) over the next two weeks.

By allowing QFIs, the government is opening a new avenue for investment, earlier controlled by foreign institutional investors. Foreign nationals, who wanted to invest in Indian stock markets, came through the sub-account route. Non-resident Indians were, however, permitted to invest directly.

SBI raises NRI deposit rates

2011-12-28T20:38:00.000-08:00

State Bank of India, the country's biggest lender, has raised term deposit rates for non-resident external accounts by up to 574 bps from January 1.

Deposits below 10 million rupees will earn interest rates of 9.25 percent, while those above 10 million rupees will earn 9 percent for 1-2 years maturity from 3.82 percent earlier, it said in a press release.

The Reserve Bank of India deregulated interest rates on non-resident external rupee deposits and ordinary non-resident accounts earlier this month to provide greater flexibility to banks to attract dollars.

Anna Hazare begins three-day fast

2011-12-27T06:47:00.000-08:00

Veteran social activist Anna Hazare on Tuesday began his three-day fast against the weak Lokpal Bill tabled by the government in Parliament.

Hazare, who reached here last night from his village Ralegan Siddhi, paid respects at Mahatma Gandhi's statue in Juhu before proceeding to the fast venue, MMRDA ground, in suburban Bandra in a rally.

Amid concerns over his health as he was suffering from viral infection, Hazare had earlier said he will go ahead with his protest and claimed that his movement was not against any side, person or party.

After his three-day fast, Hazare will launch a civil disobedience "jail bharo" campaign. Online, more than one lakh 37 thousand Indians have offered to participate in the agitation.

In order to accommodate the huge number of people courting arrest during the jail bharo call, Mumbai Police has reportedly decided to make Kalina Ground a makeshift jail. Kalina is in western suburbs of Mumbai, close to the MMRDA Ground.

The government introduced the new version of the Lokpal Bill in Lok Sabha on Thursday after a lengthy debate during which almost all parties opposed the introduction of the Bill in its current form.

Team Anna has rejected the government's version of the Lokpal Bill in Parliament, and termed it to be weak. They have been pressurising the government to accept their demands including bringing the CBI under the ambit of the anti-corruption ombudsman. (ANI)

Earth sized planets found

2011-12-21T23:14:00.000-08:00

This chart compares the first Earth-size planets found around a sun-like star to planets in our own solar system, Earth and Venus. NASA's Kepler mission discovered the new found planets, called Kepler-20e and Kepler-20f. Kepler-20e is slightly smaller than Venus with a radius .87 times that of Earth. Kepler-20f is a bit larger than Earth at 1.03 times the radius of Earth. Venus is very similar in size to Earth, with a radius of .95 times that our planet.

Sony launches Tablet S, Tablet P in India

2011-12-20T23:34:00.000-08:00

Sony launched two tablets - Tablet S and Tablet P - in the Indian market, priced at Rs 29,990 and Rs 36,990 respectively. Both Sony tablets are built around a 1 GHz Nvidia Tegra 2 processor.

Kingfisher to get $47 mln loan from Sahara

2011-12-19T21:58:00.000-08:00

The Sahara group will give a loan of more than 2.5 billion rupees to cash-strapped Kingfisher Airlines , to help the carrier continue operations, the Times of India reported on Saturday, citing sources.

Kingfisher, India's third largest airline by market share, has been struggling to raise funds to continue operations and repay debt.

The carrier, majority-owned by Vijay Mallya controlled UB group, has a debt of about 65 billion rupees and its creditors have asked the airline to raise at least $160 million in equity.

Early this year, the Sahara group invested $100 million in Force India for a 42.5 percent stake and now co-owns the Formula One motor racing team with Kingfisher Airlines Chairman Vijay Mallya.

Britannia to develop its HQ property in Bangalore.

2011-12-18T21:44:00.000-08:00

Biscuit to dairy products manufacturer, Britannia, run by the Wadia family one of India's oldest business houses, is drawing up plans to unlock a mega real estate play in the heart of Bangalore.

Britannia, which is India's largest biscuit manufacturer, has its headquarters spread across a 6-acre plus land parcel that's situated on old Airport Road, one of the city's arterial roads connecting the central business district to the IT hub of Whitefield.

According to real estate sources, Britannia has sounded out a number of consultants to look at the prospects of re-developing this land parcel, which at today's prices is valued at around Rs 450 crore.
Given that the particular land parcel is situated on the main road it enjoys a FSI (floor space index) of around 3 to 3.5, which translates to a built up area of 10-lakh square feet, for a 6 plus acre property. Commercial rentals in the area at present hover around the Rs 80 per sqft mark.

Honda launches new City, price slashed

2011-12-16T01:37:00.000-08:00

Japanese car maker Honda today launched a new entry-level variant of its flagship sedan City in India, slashing the price by Rs 50,000 compared to that of the existing model.

The company, which is present in India through a joint venture with the Siel Group, had cut the price of the City by up to Rs 66,000 in June also, after implementing various cost reduction measures.

Honda Siel Cars India (HSCI) today launched a refreshed version of the new City at prices ranging from Rs 6.99 lakh to Rs 10.22 lakh (ex-showroom, Delhi). The old City was priced between Rs 7.49 lakh and Rs 9.89 lakh.

"Our target is to offer a product as affordable as possible to customers. So we have launched a new Corporate Edition of the City that do not have some features, and we have cut the prices from the earlier entry-level version," HSCI Director (Marketing) Seki Inaba told reporters here.

The company's R&D division is also working on to increase the localisation of components and implement cost reduction activities, he added.

HSCI will start taking booking orders for the new City immediately and delivery will start from January.

Windows Attempting to Overtake the iPhone and Google’s Android Phones

2011-12-14T20:42:00.000-08:00

Microsoft Windows smartphone 7.5 has just been released, and its makers are saying that it comes with hundreds of features. It looks as though they are trying to overtake the iPhone and Google’s Android Phones.
Speech recognition is one feature that tops the list. It allows users to tell the phone to call, text or give driving directions.
The software in the Windows Phone 7.5, code-named Mango is available as an upgrade to older Windows Phone 7.
The Windows Phone design was created to be unique and is quite different than the Android Phones and iPhones. It has grid-spaced icons which scroll across home pages. Most impressive is that the text is conveyed instantly so the user does not have to open them up.

The Mango update seems to be putting out a message loud and clear to their competitors like the iPhone and Android Phones that their intention is to win the war

TATA takeover of JLR

2011-12-14T00:14:00.000-08:00

IS IT A GOOD OR A BAD FINANCIAL STRATEGY..????

FDI in India

2011-12-05T22:02:00.000-08:00

Should FDI be allowed in India..??

ET: Business Leader Of The Year

2011-11-27T21:19:00.000-08:00

Chanda Kochhar of ICICI bank received awarded Business leader of the year said "I compliment Economic Times for combining businessman and business woman of the year into business leader of the year"
Rajiv Bajaj : MD of Bajaj Auto awarded with Company of the year award said this award says is "You just can't beat a Bajaj". Also, he said "ET awards are the Oscar of business awards"

Something Interesting About India

2011-11-24T21:32:00.002-08:00

Famous Quotes on India (by non-Indians)

Albert Einstein said: We owe a lot to the Indians, who taught us how to count, without which no worthwhile scientific discovery could have been made.
Mark Twain said: India is, the cradle of the human race, the birthplace of human speech, the mother of history, the grandmother of legend, and the great grand mother of tradition. Our most valuable and most instructive materials in the history of man are treasured up in India only.
French scholar Romain Rolland said: If there is one place on the face of earth where all the dreams of living men have found a home from the very earliest days when man began the dream of existence, it is India.
Hu Shih, former Ambassador of China to USA said: India conquered and dominated China culturally for 20 centuries without ever having to send a single soldier across her border.

ONLINE QUIZ " KNOWLEDGE QUEST"

2010-10-14T03:13:00.000-07:00

Quiz 2010 " KNOWLEDGE QUEST"

RULES OF THE "QUIZ”
1. The game is starting from 14 OCT 2010. It would end on 15th November 2010 midnight.
2. A thread would be created in AIM organisation of BFCMT with the name ONLINE QUIZ " KNOWLEDGE QUEST"
3. The first question will be put by me ( It has already been put) and has to answered by the students.
4. The student who answers it, will put the next question immediately in the same message of the thread, along with time and date ( It means that the answer of the previous question which you give and the next question, you ask in the community should be written in the same message. There should not be 2 separate messages for the answer, you give and the question, you ask.).
5. The procedure will continue till last date.
6. A participant can make only 1 entry in 1 day.
7. There should be only objective questions from the field of Business and Management.
8. In the event of failure by students in answering the question within 24 hours, bonus marks will be awarded to the person who framed the question.
9. If a person gives a wrong answer and his/her answer is challenged, the person who challenges it correctly, will be awarded.
10. In the event of any dispute, the decision of mine will be final and binding.

All The Best

Lokesh Bansal

Predict the SENSEX

2010-10-14T02:58:00.000-07:00

Predict the senex on Monday

Dear Students
In this thread, you are required to predict the value of sensex on coming monday.You are required to enter your value or revise it till every Saturday (5.00 pm). After this your predicted value will be locked and matched with actual value of sensex on monday. The student whose coefficient of variation will be lowest, will be the winner of that week.
Best of luck

Lokesh Bansal

Winner announcement

2010-10-03T08:44:00.000-07:00

hello followers......

winners of the last activity that was to identify and comment on the pics of business tycoons are

PAWAN and VISHAKHA

thanks to all the followers for participations and congratulations to winners.....

All the business tycoons in last activity were not management graduates . so

Is MBA necessary for better manager or business personality?

Be part of that debate discussion by comment for or against of the statement.
hurry......

Identify and Comment on these businessmen, could be something intersting ........

2010-09-08T09:39:00.000-07:00

Picture 1

Picture 2

Picture 3

Picture 5

Picture 4

2010-09-06T10:03:00.000-07:00

BABA FARID GROUP OF INSTITUTIONS

Organizing

BFGI HR SUMMIT 2010

THEME: “ CAPABILTY BUILDING & TALENT MANAGEMENT

CORE SESSIONS ON :

Human Resource Practice For A Global Organization & Strategies For India.
IT Industry And Workforce For The Future.
HR As A Strategic Business Partner In The Organization.
Next Practices In HR : Strategies In India.
Workshop On Skill Sets Required In Higher Value Added Services.
Predicting And Preventing Unethical Behavior Of Employees.
Introducing Skills And Competence Management In Engineering.
Innovative Recruitment Strategies – Balancing Business Objective With Market Pressures.
“Building Industry Academia Partnerships : Challenges And Strategies For Creating A World Class Talentool

RESPECTED SPEAKERS

Dr. Sunil Kapoor

Having worked as GM & Head – HR, for around 23 years, Giant corporate like Jindal Steel, TVS, Orient

And many others.

Mr. Partho Chatterjee

Worked with Hindustan Levers, Hindustan Motors and Batliboi Ltd. and presently working with Engineers India Ltd. as Senior HR Manager

Capt. Rohit Dhankar

From more than 10 years he has been associated with various organizations namely Mahindra, Satyam, Axa Tech, Apollo.

Ms. Deepti Shivach

Worked with Trident and E- value service and coached like FMS, NIT Jalandar and Ideal group

Dr. Jayaashish Sethi

Academic experience of more than 10 years at various prominent MBA institutions.

Date : September 18, 2010

Time : 9 : 30 A.M. to 4:00 P.M.

Contact Persons :

Gaurav Garg

Head TPO

(95011-15005)

Sumit Chanana

ATPO Dept of TPO
(95011-15006)