An icon’s death often leads to grief getting the better of reason

There is one more interesting fact about fans committing suicide. This type of suicide cases are highly connected to the social and cultural background of the people. If you observe keenly you will see that normally people who commit suicide on learning about their icon’s death are mostly from the lower or lower middle class (except a very few exceptional cases from the upper class of society). First of all these people from the lower or lower middle class are deprived of basic needs like food, shelter and clothing. So when their idol, who happens to be their only source of hope and solace, expires, they take the extreme step of committing suicide.

Normally people from the upper strata of society have never been seen wailing even on the death of a family member. They just shed tears but do not weep; even the funeral ceremony is formal unlike the funeral of a lower class man. Usually the richer class thinks rationally about the death of either a family member or an iconic figure. Finally, the richer class people console themselves leaning on the fact that ‘No man on earth can ever escape death... today is his turn and tomorrow may be mine...” So they are normally not seen committing suicide on the death of a loved one or an iconic figure.

The relationship that develops between an iconic figure and his followers is difficult to define but easy to understand. The unwashed masses, whose own lives are usually in a mess, need towering personalities that they can look up to. These charismatic individuals are a source of joy and reassurance to their fans. So when the hands of death snatch them away from this world, their admirers and fans are driven to despair. In this heightened state of grief, they are unable to see reason and suicide appears to be the only way out of a dark abyss.

Some states in India are more emotionally sensitive in the matter of coming to terms with overwhelming grief. One can recall the tumult that the death of iconic film actor MG Ramachandran and famous mass leader CN Annadurai created in Tamil Nadu. Also consider the way people react when a movie starring such an icon bites the dust. The cultural background and social atmosphere prevalent in a region contribute a lot to this tendency. Here, people normally do not think about right and wrong. Grief blinds them to such an extent that they think nothing of ending their own lives.

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Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Shaken out of their slumber

Four tremors within a month remind people of 1950

Four tremors in quick succession have sent alarm bells ringing across Assam and the entire north-eastern region.

The quakes over the past three weeks measured between 4.9 on the Richter scale and 5.9. The one in 1950 had measured 8.7, one of the highest ever. Newspapers here have been running horror stories, recounting the experiences of the survivors. The earlier quake had left over 500 people dead, not counting the 700 lives that were lost in eastern Tibet. Surya Kanta Sharma, who had researched the subject while at Gauhati University warns of an impending disaster. “The 1950 earthquake too had been preceded by smaller tremors such as the ones felt here over the past few weeks,” says Sharma, retired professor of geography, Gauhati University. “I had, based on my study, predicted about five years ago that a big quake would strike the region before 2010.”

Abhijit Bordoloi, Professor of Geography at the premier Cotton College, though, differs: “The tremors are a result of the Indian and Eurasian plates slowly coming together but this does not mean a big earthquake is about to strike.”

The state government, for its part, is not willing to take chances. “We have put the fire, police, water resources, PWD, health, and the relief and rehabilitation departments on alert,” Bhumidhar Barman, senior minister in the Tarun Gogoi Cabinet, told TSI. “The air force and army too have been alerted.” Illegal encroachments on Guwahati’s roads are also being cleared to make way for fire tenders and rescue vehicles. The army had also been asked to keep Bailey bridges ready, said Barman, who is in charge of the state’s relief and rehabilitation department. Advertisements in local dailies, meanwhile, have advised people on safety measures while the state’s disaster management department has named places in Guwahati and its suburbs where the impact could be the worst.

More than the tremors, though, it is the history of Assam’s quakes that have sparked off widespread fear in the region. The 1950 quake was preceded by the 1897 quake which measured 8.1 on the Richter scale. Minister Barman has vivid memories of 1950: “I was thrown off my bicycle when the first shock struck,” he recalls. Adds a 75-year-old woman from Dibrugarh: “We some how managed to crawl out of our homes. A medical school along with the town’s deputy commissioner’s office disappeared into the Brahmaputra during the quake.” Assam’s 1897 and 1950 quakes are among the most powerful in history. It’s time people dread to recall.

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Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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‘Assembly Enrolment Officers’

For each Lok Sabha seat, there will be a district level head who will be designated as a ‘Lok Sabha returning Officer’. This person will be assited by many ‘Assembly Enrolment Officers’ who will in turn be assisted by ‘officers at each block’. These ‘officers’ will have two primary tasks. The first will be to try their best to ensure that money spent on social welfare and poverty eradication schemes actually reach the poor. Second, these officers will provide critical inputs on the character and prospects of potential Congress candidates for Assembly and Lok Sabha elections. In Amethi, for instance, there are about 9,000 workers or ‘officers’ who are performing the dual tasks. Multiply that with 543 Lok Sabha constituencies and you are talking about half a million such officers spread across the length and breadth of India.

Rahul Gandhi has already insisted that posts will not be filled unless the right candidates are found. And – in typical Congress style – the ‘wrong’ candidates have been selected and appointed thanks to the coteries that swamp the Congress. For example, in January 2009, Chandan Yadav was selected the State Chief of the Youth Congress in Bihar. Within days of his appointment, it was discovered that he is ‘overage’. Yadav was asked to vacate the post within five days. Something similar happened even in Uttar Pradesh. Yet, this tortuous process has thrown up people who have no powerful family antecedents or other ‘credentials’ to their name. One such is Ashok Tanwar, the president of the Youth Congress. From out of the blue, Tanwar was given the ticket for the Sirsa seat of Haryana during the 2009 Lok Sabha elections. Surprise, surprise: he won by a handsome margin. Says Tanwar, “Hamen aur kaun mauka deta. Rahulji played a major role in getting a ticket for me. In the coming byelections in Bihar also, two members of Youth Congress have been given tickets.”

In fact, one such Congress nominated candidate Mukund Kumar for Kalyanpur describes how tough it is. He has been a ‘loyal’ Congress worker for a while in Samastipur district and was 12-year-old when the Congress was swept out of power in 1989 in Bihar. Mukund was an eager participant during the talent hunt programmes that Rahul Gandhi had launched a while ago. Out of thousands, 14 from Bihar were short listed for the post of Bihar Youth Congress president and summoned to Delhi. Mukund was one of these chosen 14. He was rejected. But thanks to a few good words from Ashok Tanwar, Mukund is finally an electoral aspirant under the new Rahul regime.

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Want Afghanistan? Take Balochistan instead

Prime Minister Manmohan Singh is battling to control the damage after signing a controversial Joint Statement with Pakistan. Ranjit Bhushan reports

If you could possibly arrive at a consensus between India and Pakistan, expect it to be a stormy one. The joint statement by the two countries at Sharm el-Sheikh in Egypt at the recent non-aligned summit had all the qualities of a political potboiler — and startling brinkmanship.

The primary question at stake in Parliament and the media was whether India had bitten off more than it could chew by alluding that its ‘role’ in fomenting trouble in Balochistan was on the discussion table with Pakistan as part of the composite dialogue process. Some analysts say the joint statement delinking action on terror from the composite dialogue process has come as a bolt from the blue.

In the joint statement, of the total three summary points one point alluded to India’s role in creating troubles in Balochistan. As per another point, the composite dialogue between India and Pakistan was de-linked from Pakistan’s responsibility to take action against people who planned and helped execute 26/11 terror attacks in Mumbai.

“Both Prime Ministers recognised that dialogue is the only way forward. Action on terrorism should not be linked to the composite dialogue process and these should not be bracketed,” the statement said.

Opposition parties are up in arms saying it is tantamount to declaring that Islamabad’s actions against terrorist groups operating from its soil was no longer a pre-condition for resumption of talks between the two countries. “The joint statement is a continuation of the earlier Indian negotiating strategy of yielding ground to satisfy Pakistani hunger in the hope this will make it less disposed to bite. We continue to want to test Pakistan’s good faith, even as it has failed all previous tests,’’ former Foreign Secretary, Kanwal Sibal, told TSI. (see interview)


Defending the India-Pak joint statement in Parliament, Prime Minister Manmohan Singh said there was no change in the Indian position. For good measure, he also added that the Pak dossier makes it clear that LeT inspired, financed and executed the Mumbai attack and also this is the first time Pakistan had formally briefed us on a terror attack in India.

While the impact of the statement on the dialogue process is yet to be assessed, the government appeared to have tied itself up in knots. Foreign Secretary Shiv Shankar Menon set the ball rolling by telling the media that the joint statement was “wrongly drafted’. Does the Foreign Secretary get paid to help make ‘wrong drafts’, questioned one irate MP in the Lok Sabha. If that was bad, Home Minister P Chidambram’s attempts to save the situation took the cake. He said India had nothing to do with fomenting any trouble in Balochistan! Compounding the chaos was junior foreign minister Shashi Tharoor who sought to dilute the value of the joint statement itself by claiming that it was only “a diplomatic paper” that had no legal sanction, a dangerous game to play.

According to political sources, there was considerable disquiet in the Congress over the joint statement, though no one has chosen to differ publicly with the PM. In his column, former Union minister, Mani Shankar Aiyar, a Congressman and ex-diplomat in Pakistan, noted that there is no question of India wanting to meddle in Balochistan. There are others though who say Manmohan has taken the right stand at the right time. “After years of backroom diplomacy, we have reached a crucial stage. The PM needs our backing,’’ says Salman Haider, whose tenure as Foreign Secretary under IK Gujral in the mid-1990s, saw relationship between the two neighbours at an all time high. The proof of the pudding would lie in the eating. In the days to come, it would be important to see how Balochistan plays out.

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Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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India can learn from some of the unique attributes of neighbours

Learning is a continuous process of gaining or inheriting knowledge and skill. There is no class or caste bar when it comes to learning from someone. However, the same is also applicable in trans-national relationship; especially a country can learn a lot from its neighbours. Many of the Latin American countries have gone democratic because, the big neighbour the US, inherited it successfully. Many preferred capitalism because it turned out to be a successful economic system in the US. Similarly, if European countries are somewhat equally prosperous and united, it is because each strived to learn lessons from neighbours. Even in Asia, China is perhaps a classic example. It's incorporation of positives of capitalism - initiating liberalisation and privatisation led by Deng Xiaoping after he found that neither the socialist command economy favoured by Communist Part of China (CPC) nor Maoist ideology of shifting from socialism to communism as exercised in agriculture but failed had actually worked in favour of an economy unique in itself. Initiating reforms in a communist country like China was not easy!

In that context, India has many to learn from its neighbours. To start off with, Bhutan, perhaps India’s closest neighbour possible, have some things unique to teach India, if fact, the world. No other country in the world perhaps witnessed such a peaceful transformation from monarchy to democracy that took place in the country in 2008. 100 years of monarchy went democratic silently. Credit goes to His Royal Majesty Jigme Singye Wangchuck, en spite of peoples' request the King democratised Bhutan simply for the sake of the future generations of Bhutanese. The speech of the incumbent king, Jigme Khesar Namgyel Wangchuck, delivered while inaugurating the first parliamentary session in its capital was unique in itself. We are so engrossed with Obama’s speech that we forget the fact that a 28 year old king can deliver such a revolutionary speech – rare in India! Another aspect to learn from Bhutan is infrastructure and architecture that the country has to offer. A tiny country surviving by donations can have better infrastructure than its donor. India had financed Bhutan's first two Five Year Plans (Bhutan is grateful for the fact though). India’s donation to Bhutan has gone up from just Nu.107 million to Nu.10 billion while Bhutanese government urges Indian authority to improve its infrastructure, what an irony!!! The kind of architecture Bhutan offers to the world remind us that architecture and wealth are not necessarily synonymous. Similarly, Pakistan may be its biggest headache for India but there is lot to learn from it especially when it comes to handling international politics and world diplomacy. It is such a country that can host world’s most dangerous terrorists like Laden, Baitullah Masood or Dawood Ibrahim and terror organisations while it can also maintain good relationship with world’s most powerful countries who spend billions of dollars to find and kill them. It’s not easy to do. India has also a lot to learn from Sri Lanka. Despite being a tiny and poor nation it has proved that if a country truly wants, it can overthrow world's dangerous terror group, LTTE.

Learning is something that helps always, that which enlightens the thought process and keeps learners updated. For a country aspires to be a leader, it should also have the temper to learn from its fellow brethren leaving apart personal enmity, hatred and ego. India has ample scope to improve. Let not that aspirations go in vain.

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Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Single-board system lauded

Common syllabus, textbooks for classes I and VI by 2010

The Tamil Nadu government’s decision to introduce equitable standard school education from the next year onwards has been welcomed. Initially the new education policy to have a single-board system will be implemented in the academic year (2010-11) for I and VI classes and in 2011-12 it will be expanded to other standards.

A Common Board will be created by merging all boards. Unlike other states, four streams of school systems are being followed in Tamil Nadu: State board, Matriculation, Anglo-Indian and Oriental. As for the medium of instructions, besides Tamil, other languages now being used would continue.

Educationists feel that the changes due from quite a long time would help improve quality of education in the State-run schools. Union Human Resources Development Minister Kapil Sibal, at the 56th session of the Central Advisory Board on Education held in New Delhi appreciated the move and said: “I am happy to hear that the Tamil Nadu government has adopted a single-board system for equitable education.”

The new education policy was first discussed by the DMK in the 2006 elections. The party had promised to introduce ‘Samacheer Kalvi’ (equitable standard school education) if voted to power. Once the goal was achieved, the government appointed a committee headed by S Muthukumaran, former vice chancellor of Bharathidasan University, to study the possibilities of introducing equitable standard education in schools. And in 2007, Muthukumaran submitted his report. Initially the recommendations were welcomed with apprehension. Some private schools opposed it. But the government claims that all contentious issues have been resolved. All told, some private schools are still resisting this move. They are planning to challenge the government’s decision in the court.

“Muthukumaran committee held exhaustive consultations with all the stakeholders so they can’t say the government has taken a decision unilaterally. We are ready to face them in the court,” says School Education Minister Thangam Thennarasu. Finally last week the state government announced its decision to implement the equitable education.

“It is a historic decision. And all praise to our Chief Minister M Karunanidhi for implementing the new changes. Lakhs of students and parents who are major stakeholders in the education system will benefit from it,” says Thangam.

“An expert committee will decide on the common text books and syllabus. The medium of instruction will be followed as it is now. In English medium schools English will continue and in minority schools like Kannada schools there will be a status quo,” he said.

But, the State Platform for School education — an organisation which fought for the implementation of equitable education — wants the government to print text books. Besides, it wants a comprehensive school education act. But what parents and students want the most is an improvement in the quality of education.

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Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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How farmers and consumers will bleed as sugar companies make record profits

About 20 months ago, after witnessing the gut wrenching scenes of farmer Attar Singh burning down his sugarcane crop, The Sunday Indian had done a cover story on the looming crisis with a simple headline: Who is he (Sharad Pawar) batting for? In those days, Pawar appeared to be busy with more important issues like the Board of Control for Cricket in of India (BCCI) and the Indian Premier League (IPL) Today, he is too busy with the looming state assembly elections in Maharashtra, which happens to be the second largest producer of sugarcane and sugar after Uttar Pradesh. Sure, he conducts meetings and issues lame sounding statements that a sugar shortage is imminent and that the government will do everything it can to rein in prices. But the fact is, even industry insiders and government officials openly admit that sugar prices will almost certainly cross Rs 70 per kilo. And really, don’t be shocked out of your wits if prices touch or cross even Rs 100 a kilo in the not too distant future.

With both farmers and consumers crying out in distress even as sugar companies laugh all the way to the bank, the UPA government now knows that this crisis could prove to be enduring, dangerous and damaging. No wonder, there are reports of even UPA chairperson Sonia Gandhi expressing concern at rising sugar prices. No wonder, the Prime Minister’s Office (PMO) is officially cracking the whip and monitoring the rapidly developing crisis on a regular basis. No wonder, the authorities have gone back to that old bogey of “hoarding” with regular reports of sugar being ‘seized’ from godowns. And no wonder, they have passed a draconian order stating that no large consumer of sugar (read companies) can keep more than 15 days' stock of sugar.

But sugar prices keep rising. And the fact is, they won’t stop rising. Even students with an elementary understanding of economics will know why. Last year, sugar output in the country was 26.4 million tones.

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Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Relax! It ain’t a giant wave, not yet!

With two IPOs hitting its shores one can finally see some sign of life in the primary market again. But is the market really ready? manish k. pandey acts investor... oops investigator!

At least 50,000 retail investors applied for shares when Mahindra Holidays & Resorts came out with its initial public offering (IPO) in June this year, while the much awaited Adani Power IPO, which closed last week, received a whopping 5,79,000 applications (the Rs.30 billion IPO attracted total bids to the tune of Rs.650 billion). So the entire IPO ecosystem is buzzing with energy and enthusiasm yet again. Investors are seeing this as a chance to party again after a prolonged sobering period.

But then, is the market really ready for the next big wave of IPOs considering that the retail investor is still sceptical to investing in IPOs after the failure of Reliance Power IPO? “Capital markets have short memories. They have the habit of forgiving and forgetting the losses quickly as soon as they start making money again. Investor response to the Adani Power IPO is a case in the point after the fiasco of Reliance Power IPO. Certainly, investors are back into the IPO arena and it’s business-as-usual for them,” reasons Jagannadham Thunuguntla, CEO and Equity Head, SMC Capitals.

Further, the participation of retail investors in an IPO depends primarily upon two factors. Firstly, on the valuations at which the IPO is being made available to investors and secondly, on the state of the market at the time of the IPO (which has a bearing on investor sentiments). If these two factors are in favour, there is little doubt about the success of an IPO. But are these two factors really in favour of the investor as of today? “I believe that the market is ready for quality IPOs. With the return of the risk appetite amongst the investor community at large, there is certainly a demand for newer IPOs. However, to ensure that investor appetite remains unaffected, it’s important that these IPOs are not bunched together within a short span of time,” cautions Hitesh Agrawal, Head – Research, Angel Broking.

But, despite the optimistic signs in the fund raising environment, there is a looming tsunami that threatens any momentum: the Budget has projected a deficit of 6.8% of GDP in fiscal 2009-10 and to finance this, the government will borrow about $80 billion from the market, which may further squeeze out the private sector, directly impacting their fund raising capabilities (Knowledge@Wharton). This statement certainly supports the contrarians who believe that the market still has a long way to go before it can finally take on to the IPO rush. “In reality, there is no rush of IPOs. It’s only media hype. Despite the secondary market being on an upward trend since March this year, we have had only 4 IPOs/FPOs raising Rs.4.43 billion. There was a huge expectation that this Budget would set the right tone for the secondary market, a prerequisite for the primary market. But, the immediate market reaction has shown that it is not very impressed,” avers Prithvi Haldea, Founder and CMD, Prime Database.

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An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Nothing right with RTI cases

State officials give info-seekers little cause for hope

The Right to Information Act (RTI) of 2005 has empowered citizens across the country. In Orissa, however, government departments are dragging their feet on RTI applications. And in some cases they have even asked the applicants to pay money to get information.

On February, 2009, an applicant, Sanjiv Das, wanted to know the exact amount provided by the government to the Integrated Tribal Development Authority. In its response, ITDA asked the applicant to deposit Rs 2,090 as stationery fee. Interestingly, this amount included the wages of a typist. The rules clearly stipulate that wages of a government typist cannot be taken into account while estimating the cost of responding to an RTI application.

In another case, on August 30, 2006, one Sarat Rout had applied for specific details regarding transfer of nurses to the department of family and welfare between 2003 and 2006. When the reply reached him on December 10, he was in for a shock. The department asked him to fork out Rs 56,000 as photocopying charges. Needless to say, Rout did not pay up and so he never got the information he had sought.

Worst of all, the Orissa Information Commission did not take any steps to penalise the departments concerned for their violation of the provisions of the RTI Act despite its attention being drawn to the two above cases.

Meanwhile, a study undertaken by PRIA, a national-level civil society organisation, has revealed that the Orissa Information Commission hasn’t exactly covered itself in glory. It has been accused of incompetence and malfeasance on every front.

The study is both comprehensive and focused in respect of RTI in Orissa and covers the period from 2005 to the end of 2008. It has revealed that departments of the state government are hell-bent on giving the RTI Act a quiet burial.

Sarat Rout, who claims to be the highest user of RTI in Orissa, says: “By charging huge amounts in the name of photocopying and stationery fees, the state government departments are evading dissemination of necessary information sought by a petitioner under the Information Act 2 (H-A). There are so many cases that tell us how the negative attitude of the government departments is proving to be an impediment. And above all the Orissa government has failed to punish the guilty officials.”

RTI activist Chittaranjan Behera points to a recent survey carried out by a social organisation, which reveals that the performance of 80% of Orissa government departments is between 0 and 5 per cent on the RTI front.

“Some departments are wilfully providing wrong information. And the guardian of this Act, the Information Commission, is in deep slumber,” he says.

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An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Tribute - For our fallen heroes

There is a strong case for erecting a National War Memorial at India Gate

Nafisa Ali

Social activist

A recent report on television showed that the government has shot down a proposal for setting up a National War Memorial at India Gate. If you look at the martyrs’ names etched on the existing memorial, they are all from the pre-Independence era. Especially aft er the Kargil war the Defence Ministry had suggested that there be an allocated place at India Gate where we could salute our martyrs and fallen soldiers. It would have been a place where we could have run our fi ngers over their etched names. I feel very sad that August 15 is round the corner and we have categorically denied our martyrs that honour.

Just consider the sacrifi ces that they have made; the hardships they undergo so that we remain safe whether in war or calamity – manmade or natural. I still remember that aft er Kargil, I as an activist had written from my NGO to the martyrs’ families telling them how sad and sorry we all were.

Some wrote to us about their problems and we tried to resolve them. And on the eve of August 15, I would say that I am deeply disappointed that the names of our martyrs have been denied a place in the vicinity of India Gate.

It smacks of a lack of vision… I know India Gate has been built by the British, but this is independent India and we should think about these issues such as equal rank, equal pension. So many issues have come to light t h a t need to be addressed.

Th is would be my plea and prayer to the Prime Minister of India to intervene. I understand there is no spectacular place, but next to India Gate you have a canopy where a special place can be created. Why should we be loyal to the British Raj and not to our fallen heroes?

In fact, there is space available… What we lack are visionaries, vision and a commitment to create a simple memorial of plain granite where the names of martyrs could be etched. It would not interfere with the landscape or the horizon. It would not incur much cost; in fact


not at all – if the government gave me permission, I’ll bring in 20 leading industrialists and corporate houses to contribute towards a memorial for our martyrs.

Th e family members would feel hurt at this grave neglect, particularly when they look at the names of pre-independence heroes etched, but nothing to commemorate the sacrifi ces of their dear ones. Something like you have in New York at Ground Zero… a simple granite stone with the year of war or insurgency, regiment and name. I mean what’s the big deal? It costs nothing and it makes the nation feel proud.

I have been personally pursuing this since the Kargil war. All my mail, letters, correspondence and meetings… it’s all there, but just 4-5 days back I saw it on TV that the Urban Aff airs Development Ministry has said there is no place for such a National War Memorial. I completely disagree with them. Th ere is place and they just need the minister to come to the area and see for himself how it can be done. And on August 15 I would appeal to the media to support me in my mission.

Th e army is functioning fi ne; it’s apolitical and works well… it’s just that we need to see if someone has been promised something like a petrol pump or some reward or allowance, it shouldn’t be delayed and we should make the process simple and quick.

Th e process should be free of fi les and formalities because when the country is facing jeopardy, they don’t ask what would happen to our families; they just go and fi ght. I am proud to be an army man’s wife. According to me, the army is do- ing the needful with respect to war widows; it’s only when the government comes in that the delay happens.

My message on this occasion is that I am glad and proud that I married an army man. Because I came from the civilian world, I knew nothing about the principles and the wonderful system and culture that exists within the defence fraternity.

I have never bowed down to or been cowed down by anyone; I have been an activist because I follow the principles of human dignity.

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Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Beware the 'CI'LL 'BIL'L!

Cibil has a great role to play. but it is also being misused by banks and is affecting genuine customers, observes Vikas kumar

Name – Harsh Tiwari

Problem – His credit card application has been rejected by an international bank.

Reason – He had defaulted on the payment of a credit card issued by another private bank some months ago.

Harsh Tiwari's story is not as simple as it seems. A leading private sector bank had issued Harsh a credit card, but without his clear knowledge. After one year, the bank started sending bills. After protracted correspondence by Harsh and only after he threatened legal action against erring bank officials, did the bank reverse the bills; but bank officials put his name on CIBIL (Credit Information Bureau of India Limited) list. When Harsh applied for the credit card of another bank after some time, his application was rejected based on the information of CIBIL.

Name – Ramesh Rastogi

Problem – A loan application rejected twice because of an outstanding credit card dues worth Rs.2500 with a leading public sector bank.

Ramesh had not been convinced about the charges levied by the bank so he had not bothered to pay the dues. His woes started when he applied for a personal loan in some other bank. His application was rejected as his name was found in the defaulters list in CIBIL database. Then, Ramesh approached the previous bank for settlement. During the period, the dues of Rs.2,500 had increased to Rs.10,300. He paid Rs.6000 for the dues of Rs.2500 and took a settlement letter from the bank. The letter says, “We would like to inform you that we have initiated the process of removal of your name from the defaulter’s database. We request you to bear with us in the interim.” However, he faced a similar problem after two years when he again applied for the home loan. His application was turned down by the bank due to poor CIBIL score. On a query from CIBIL he found that the account status was “Written Off,” which means bad debt. Aggrieved by the development, he approached the bank.

Ramesh Rastogi says, “Now, they are asking for full payment to remove the name from CIBIL. Then why did they give that letter? Why did they say that my name will be removed from defaulters list?” Till now, he has not received any satisfactory explanation from the concerned bank. In all likelihood, he never will. Harsh Roongta, CEO ApnaPaisa, a financial planning firm, says, “Generally, people get relaxed after settlement of dues with the bank. But technically speaking ‘settlement’ means this is your liability but I am unable to pay. It will feature as ‘written off’ in the list.”

The fact is – details of your accounts are an open secret today. All bank and Non-banking financial companies (NBFCs) have access to the loan repayment history of every borrower and the payment record of every credit card holder. And, whether you like it or not, banks do not need your consent before sharing details of your account with the CIBIL.


CIBIL is a repository of information that contains credit histories of borrowers. It generates credit reports of the borrower’s repayment history, settlement, defaults and contact details. Expectably, lenders like banks and financial institutions, have access to it. At present, with records of 130 million accounts, it is the largest database of retail bank account holders in India. In principal, CIBIL is not a bad concept, as default rates on the various kinds of loans in the country are constantly rising. Such a database helps banks to know about willful defaulters and saves their precious time and money while processing loan applications. Atul Ranjan, Head-Operations, Axis Bank Delhi, says to TSI, “It is a good thing. But most of the time, consumers suffer because they do no have a complete idea about all types of charges; many of them can be hidden.” It's not just defaulters who feature in the CIBIL database. If you pay your EMIs and credit card dues on time, this is also reflected in the database, which helps to generate good credit score. Clarifying this further, Arun Thukral, Managing Director, CIBIL says, “If you have a good credit score, say 700 out of a total of 900, this means faster processing of your loan application, waiver of processing fee and it might also lead to a reduction of your interest rate.”

However, there are instances when innocent customers have to suffer, as is the case of Harsh Tiwari. Lack of awareness about CIBIL is costing some customers and intermediaries alike. Avinash Kumar, CEO, Sai Motor Finance, says, “It may sound incredible to you, but 75% of auto loan applications are now rejected by banks, which was earlier 10-25%. The excessive reliance on the CIBIL score by banks has badly hampered our business prospects.” There are many indirect ways too in which one's credit scores can get affected. For example, if you become a guarantor for a loan taken by any of your acquaintances, and they default on the payment, even that would lead to your credit score being downgraded.

But then, there is a chink. It is the need of the hour that whenever any bank reports any negative information to CIBIL, a copy of this must be sent to customer so that the individual can take possible remedial action. Some consumers do comment that this process perhaps is not being adhered to with 100% compliance. Well started, half done is what we'd say...

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Indian bolt-less-ness? - "IIPM News"

The lessons India never learnt from Jamaica, Kenya or even Ethiopia…

In the year 1986, a couple used to run a grocery shop in an obscure rural place near Trelawny in Jamaica and had to slog really hard to make ends meet for the family every day. After 23 years, their son performs his ‘Bolt-moves’ in every possible headlines, internationally! Yes, we are talking about Usain Bolt, the latest sensation of the day, who is indeed rocking the world athletics arena, breaking one record after another, and sometimes, breaking few records of his own! Silently, a compelling question arises – what did Jamaica, a country which is internationally third in murders per capita, do to deserve a legend like Bolt? The apparent yet most important answer is – ‘nothing’ but providing ‘support’ for such lightening talents.

Actually, when we witness sparkling achievements, such as Bolt’s, the first reaction that strikes most of our minds is ‘HOW’, and not ‘WOW’. The answer to this ‘how’ is official ‘support’ in Jamaica. Why Jamaica alone, many other under-developed East African economies have pulled up their socks to provide proper ‘support’ to their respective sportsmen, and they are proving their worth at the international level. Countries like Kenya, or even Ethiopia, are dominating world athletics field. Such is their success ratio that International Association of Athletics Federations (IAAF) members (mostly from developed economies) are forced to cancel many annual championships out of fear of loss in medal tally!

At this juncture, the quite repetitive yet most obvious ‘sigh’ comes with the comparison between Indian standard of achievements at the international level and achievements of many under-developed economies. Except few odd cases of the Abhinav Bindras or the Vijender Singhs (even where the sole credit goes to the respective sportsman’s private endeavour or the respective family support), India’s show at the international sports arena has been absolutely bizarre. Why? Don’t we, as a nation, provide support to the sports? Of course we provide support. Our honourable Finance Minister Pranab Mukherjee has allocated Rs.3,073 crore for sports, a straight hike of Rs.1,480 crore than the proposed budget. Make no mistake, most of this money will be vanished without any trace citing city’s developments for the Commonwealth Games and actual sports will always be deprived. So the obvious questions are – why is our country always lagging at the international level? Why are we suffering from such lack of infrastructure? Why, as a nation which has 80 per cent of its population based in rural areas, fails to inspire talents who can brighten its glory internationally? Why our sportsmen, all across disciplines except the holy cow cricket, feel dejected and support-wise ‘malnourished’ everyday? To all these harsh questions, India has only one helpless answer – lack of official commitment! Till the day we pretend to define our attitude towards sports out of acute colonial hangover, till the day our chair-holders will keep on looting the official allocations for private benefits in broad daylight, till the day India will fail to show proper accountability at every layer of the sports society, and till the day our officials will hide their devilish desires under the veil of non-transparent babuism, India and its sports will lag behind and at every international mega sports event we will be left with anguish, disgust and helpless failures, making a complete mockery of India’s actual ‘sportsmanship’!

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Malicious Jessica Biel! - "IIPM Press Release"

Here is a sure shot way of getting your PC infected by virus. Get onto the Internet and click on any site that reads Jessica Biel! “Biel is the most dangerous celebrity to search in cyberspace,” claims security firm McAfee. So, the next time you click on her downloads, videos, photos etc, your computer will stand at a risk of being attacked by a cyber virus one out of five times! We didn’t know Jessica was this infectious!

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Sanjay dutt - Often down, but never out!

Come what may, Sanjay Dutt has stuck to his guns and held his head high...

“Sanjay is a survivor”, Mahesh Bhatt had once mentioned. And indeed, he’s proven this more than just once. After having won quite a lot of praise for his first film, “Rocky” (1981), Sanjay’s career didn’t follow an upward trajectory, until his next noteworthy performance in the film “Khalnayak” in 1993. Sanjay’s career had just begun to go great guns when events in his personal life abruptly stopped him in his tracks. Arrested for illegally possessing arms and his said links with those involved in 1993 Mumbai blasts, Sanjay spent 16 months in prison as an undertrial. Yet, after his release, Sanjay refused to wallow in self-pity and jump started his life and career again. Mahesh Bhatt, Sanjay’s unrelenting supporter, speaks volumes about him and mentions him as someone who would always “get back like a true fighter”.

From the very beginning, Sanjay led his life exactly as he wished. After the loss of his mother, Nargis, at a very young age, Sanjay took to drugs and eventually landed up in Drug Rehabilitation Centre for treatment. His love life hasn’t been a bed of roses either. Sanjay’s first wife, Richa Sharma, passed away in 1996 due to cancer. Their daughter is currently in the US. Sanju then married Rhea Pillai, but the relationship didn’t turn out to be successful and they soon parted ways. However, having led an unconventional life until now and having that ‘never give up’ attitude, Sanjay found love again much recently in Dilmawaz Shaikh, who is also known as Manyata, and tied the knot with her despite opposition from all his family members. Although Sanju has been controversy’s favourite child, people who’ve known him closely can’t seem to have enough of him. It’s often heard that he’s very particular about his commitments and gives his heart and soul to anything that he has committed to. And despite treading the path less trodden and inviting trouble – be it drug addiction or blast accusations, to choosing the unconventional bad-boy roles in movies, or proudly consummating a controversial relationship – Sanjay has received much love and support from his fans all through his difficult journey.

Today, the actor’s personal life is relatively peaceful and happy and his career too is at its peak. Fondly referred to as Munna Bhai by his fans, even at the age of 50, when one usually is approaching the dusk of his/her career, Sanjay can see the sun shining brilliantly on him. The film industry reckons him to be a man of mettle, like his co-actor Arshad Warsi mentions with a glint in his eyes, “It is an enjoyable experience working with Sanju. He’s truly a great guy who has no starry ego issues at all.” Now, earnestly treading on his dad Sunil Dutt’s path and foraying into politics too, we hope his days of trials and tribulations are done with!

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative