Sunday 14 August 2016

Balaji Darshan

I was very excited looking forward to have the darshan of Balaji Sir, who made it to the event in White shirt and Vetti arousing pride in me. ( I said to myself “Thamizhan da”. It was after that he said the reason behind his costume for the day. :P)
To tell about the lecture, it was an eye-opening talk by Balaji Sir at IIT-M. It is not the first time that I negate the fairness of our educational system, which is supposed to develop wise humans out of children. In fact, most of us would heresy our educational system. But when someone pinpoints the flaws and with comes up brilliant solutions to cleanse the dirt, it inspires us. Needless to say, Balaji sir inspired us on 13th August 2016 at Central Lecture Theatre of IIT-M.
I would quote some of the bright ideas that were emitted out of his wisdom that day.
· “62,290”
This is the number of Student suicides that happen every year in India.
My thought: Education is one among the instruments that Homo sapiens use for evolution. But the way we conceive and boil tender minds is reflected in the obscenity of the fact. This fact simply tells that all the while we have taught children that to fail is to get humiliated losing our worth.
· More suicides happen in the age group “15-29” than any other age group.
· The nation’s youth population is 35 Crore. This is more the combined youth population of the nations USA+ Russia+ China+Japan.
· Failure of proper nurturing of this power would boomerang. The uncared youth might have to resort to wrong ways to subsist and he is a threat to the society.
My thought : The fact is already evident from what we see across nation where the youths of nation resort to harsh ways to get their demands fulfilled – Kashmir backlash, Bus day celebrations in our own Chennai etc… We should be reminded of the fact It is our non-inclusive system that stands as the epicenter for the problem. Until the cause is cured, the effects out of the cause will rise again and again.
· Quoting “Daniel Pink” from his book “ The whole new thing”, he said Indians are now at conceptual age, where creation, metacognition and innovation plays a sound role. We fail to teach children how to implement theory in practice.
Know more about this @ http://empathyed.org/index.php?o...
· He quoted Yogi berra’s statement :
“ In theory there is no difference between theory and practice; in practice there is. “
· Indians created more startups than anyone else in silicon valley.
· 1/3 rd of the silicon valley startups are of Indians.
During the interaction session with audience, he shared his thoughts on startups which are as follows :
· Donot quit too soon.
· Anything good would see excess demand. It is up to you to distinguish yourself.
· Don’t hesitate to start up when you are a student. As a student your mistakes will be tolerated.
· If you want to start, do it right now.
· Marks are absolutely trivial to judge someone’s caliber.
· It is completely unfair to let a 15 year old to put under pressure and make him choose a avenue that he should pursue after his 10th grade. At the best, he can have a hypothesis.
Even after the formal interaction session, he was so polite that he addressed informal questions asked to him with absolute humility. Something we all should observe, when knowledge combines with humility, nothing can be more beautiful than that state. After the session, I had the fortune to meet his father Viswanathan along with Balaji sir’s son. He is no different - Humility personified, so kind in words.
The following Kural, one of my most favourite flashed in my mind.
மகன்தந்தைக்குஆற்றும்உதவிஇவன்தந்தை என்நோற்றான்கொல்எனும்சொல்.

Tuesday 2 August 2016

Important Business News between 20th July, 2016 and 31st July 2016

·         Airtel to acquire the 4G spectrum of Aircel in 8 Telecom circles including Tamil nadu, Odisha
·         Delhi high  court restrained workers union of 5 associate banks of SBI from going strike.
·         Nirma Ltd to buy Lafarge India’s Cement assets in a deal worth $1.4 Billion.
·         British Oil and Gas explorer Cairn Energy has sought a compensation $5.6 Billion for breach of UK-India Investment treaty at an International arbitration panel for IT department making a retrospective tax demand. If the Arbitration panel fails to order in favour of Cairn Energy Ltd., it has said it should be compensated for the loss of value of shares amounting to $ 5.587 Billion.
·         BSE has introduced online bidding platform for Sovereign Gold bonds after receiving approval from RBI
·         Reliance Jio to offer free Local and ISD voice calls along with 4G Voice and data services.
·         Cabinet Committee on Economic affairs has approved 15% stake sale in National Buildings Construction Corporation Ltd(NBCC) which is expected to yield Rs.1706 Crore.
·         India Ratings Ltd has projected a Loan CAGR of 9% during the period FY16-19 due to limited capital availability.
·         The Income declaration scheme due dates have been staggered that:
o   25% of the payments shall be paid before 30.11.2016
o   Another 25% of the payments shall be paid before 31.03.2017
o   remaining shall be paid before 30.09.2017
·         SIT on black money has recommended Supreme court that
o   Cash payments in excess of Rs. 300,000/- be banned
o   Possession of cash in excess of Rs. 15,00,000/- be banned.
·         Union road transport minister Nitin Gadkari has offered US electric car manufacturer Tesla land near Major Indian ports to have India as its manufacturing hub in Asia.
·         Unified Payment Interface to become operational this month- Raghuram Rajan.
·         Changes to Benami Transactions (Prohibition) act,2015 gets cabinet nod. The proposed changes include confiscation of Benami property other than those declared under Income disclosure scheme
·         Income tax department to issue 7 Lakh letters to Individuals seeking details of high value transactions made during the last 8 years without PAN information
·         Amendment to Contract Labour (Regulation and Abolition) Central rules, 1971 to raise the minimum wages to Rs.10,000 stalled after facing objection from various interest groups.
·         A workers union has moved to Delhi high court against Food Corporation of India’s move of hiring contract laborers. Earlier labour ministry issued a notification for hiring contract labourers for FCI going against the recommendation of its own advisory council. Various notifications since 1985 have prohibited hiring of contract labourers for FCI. The recent notification denotified all the prohibitions instituted hitherto.
·         Essar group has decided to sell 73% of its stake in Essar oil to reduce its corporate debt which has heaped to the tune of Rs.100,000 Crore.
·         Labour ministry’s decision to invest in ETF  the funds of EPF is too early in the current market scenario : Finance and Investment Panel of EPF
·         Sanjiv Puri appointed as the new COO for ITC
·         RBI has imposed Rs. 27 Crore penalty on 13 banks including HDFC, Bank of Baroda, PNB for violation of KYC norms and Anti-money laundering norms.  It has also warned 8 other banks including Kotak Mahindra, Axis bank, ICICI, SBI.Federal bank, OBI.
·         Centre approves Foreign stock exchanges, depositories, banking companies and commodity derivative exchanges to own upto 15% in Indian stock exchanges.
·         India’s GDP growth for FY 16-17 may rise up to 7.9% : CRISIL
·         The Union cabinet has approved to remove the additional levy of 1% by manufacturing states and 100%  compensation of revenue loss to the states for 5 years.
·         R.Sheshayee steps  down as Ashok Leyland Non-executive vice chairman ending his four decades of affiliation with Ashok Leyland.
·         Centre to issue demand notice worth Rs. 12,400 Crore to 6 telecom companies including Airtel, Idea, Vodafone after CAG’s report indicting underreporting of revenues by the telecom companies.
·         SEBI to ease listing norms by doing away with the clause that imposes a cap of 25% on the shareholding by a individual together with the Person acting in concert in an entity.
·         India looking for options to counter trade sanction that US is trying to impose on India to the tune of $ 452 million on the ground of violation WTO order in poultry import ban case.
·         Centre infuses Rs. 22,915 Crore  of capital to the Public sector banks as part of  its programme “Indradhanush” launched last year.
·         Employee’s compensation act,1923 to be amended with new  provisions such as:
o   Penalty in the range of Rs. 50,000-Rs.100,000 in case of failure to report by employer about accident in the premises of employer.
o   No appeal against labour commission order by the employer in case of compensation upto Rs.10,000/-