is often equal to the difference between mind and mindset.

Progress

HAZARE PROMISES TO FIGHT LAND GRAB

INSIDE THIS ISSUE:

CORPORATE watch ECONOMY watch INDUSTRY watch FACT OF WEEK INTERVIEW ZARGONOMICS JOB watch ENTREPRENEUR

the tremendous public response to his indefinite fast for a strong and amended Lokpal Bill, anticorruption crusader Anna Hazare on Saturday raised the pitch promising more fights in the coming days for land reforms, farmers' rights and a better education system. Earlier, he had talked about agitating for electoral reforms and the right to recall. As his fast entered the fifth day on Saturday, he said he felt some weakness having lost 3.5 kg, but asserted that he will not give up. There is nothing to worry. I will keep fighting till we get the Jan Lokpal Bill or amended Lokpal Bill that includes provisions of Jan Lokpal Bill. My fight will not end with the Jan Lokpal Bill. There is corruption in land being forcibly taken away from farmers for builders and companies. Farmers are being forced to commit suicide. We have to fight for them. The education system has become so corrupt that we have to pay money to get our children admitted in schools and colleges. This chain of corruption has to be broken. We have to change the system. Mr. Hazare was joined on the dais for a while by the former Law Minister and cochairman of the joint Lokpal Bill drafting panel, Shanti Bhushan, who said that if the government had the political will, it could withdraw the Lokpal Bill and pass the Jan Lokpal Bill in Parliament by August 30 through a whip.The Bill can be introduced on Tuesday in the Lok Sabha, and discussed on Wednesday and Thursday. It can then be sent to the Rajya Sabha where discussions can easily be concluded by August 29-30 and the Bill passed, he said, adding that, on many occasions, Bills have been passed within minutes of tabling, without any discussion or debate. Asked if Mr. Hazare's demands did not amount to blackmail, Team Anna said he was not holding a gun to the head. If he did not agitate, the Lokpal will be hanging fire for another 42 years.

Enthused

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CORPORATE WATCH MARUTI SUZUKI PLANS TO ROLL OUT A GLOBAL CAR BY 2017 The countrys largest carmaker Maruti Suzuki India is aiming higher with plans to roll out a global car by 2017.With their new R&D centre at Rohtak getting ready, Company will start working on a global car. The company will develop the car, with some assistance from parent Suzuki Motor Corp (SMC), targeting the European and Japanese markets. In the past, MSI engineers had participated in the development of global models, which have been introduced in India, such as Swift and Ritz. MSI is at present working on an indigenously developed small car for the Indian market that is likely to be launched next year. MSI is spending up to Rs 1,500 crore to set up a R&D centre at Rohtak, which will be SMCs only such significant centre outside Japan, to scale up its vehicle development programme and become self-reliant. Commenting on these developments, MSI Managing Director and CEO Shinzo Nakanishi had said: The growth of the Indian market deserves additional and localized R&D capability that can serve India even more closely. HONDA LAUNCHES NEW VERSION OF JAZZ Just ahead of the launch of its much-awaited compact car Brio, Japan's Honda Motor Company recently introduced the new version of its premium hatchback Jazz at reduced prices to boost sales in the pricesensitive Indian car market. Compared to the old prices of Jazz that were between Rs.7.12-lakh and Rs.7.56-lakh, the new prices of the spacious and feature-rich hatchback, which comes in three variants, now ranges from Rs.5.50 lakh to Rs.6.06 lakh. Notably, the carmaker recently reduced the prices of its flagship Sedan City. Honda is present in India in joint venture with Siel as HSCI. Launched in 2009, Jazz comes with a four-cylinder 1.2-litre i-VTEC which gives mileage of 16.7 km a litre. Honda has been selling around 500 units of Jazz a month, but its output has been curtailed since March this year due to reduced supply of parts from Japan that was hit by tsunami.

SAMSUNG TRAINS ITS EYES ON CAMERA MARKET After consolidating its position in the mobile handset market, Samsung Electronics is now focusing on the Indian camera market that is growing at over 30 per cent annually and is likely to touch 40-lakh units by the end of this year. The Korean consumer electronics major is planning to introduce new feature-rich cameras, particularly in the entry-level segment from where major sales are coming. Company has already launched 12 new models this year, seven of which are below Rs.10, 000. Companys entry level digital camera now starts at just Rs.5, 999 that is aimed at capturing the mass market. Company will soon introduce more cameras to take on competition. This new strategy will help company gain considerably in the fast-growing Indian camera market. Growth of camera market had been exponential in the past few years and had surpassed all expectations. Initially, Samsung was more focused towards hi-end digital and SLR camera market. They have now realized that high-volume segment will drive sales. Notably, 80 per cent of the total camera sales today come from the sub-Rs.10, 000 segments.

INFOSYS NAMES BUILDING AFTER MURTHY Paying tribute to former Infosys chairman N R Narayan Murthy, who recently retired from the company, Chandigarh centre of the IT firm named one of its buildings after the iconic corporate chief. The building has been named Narayan Murthy Centre of Excellence. The main ceremony was organized at Bangalore campus. There was a simple ceremony to salute the leader. Murthy founded the company in 1981 in Pune and worked as its chief executive officer for 21 years. He had invested an initial capital of just US $250. Today, the company's turnover stands at millions of dollars. He took this company to dizzying heights. Whosoever has ever met him, feels that he is a down-to-earth and humble man with his values intact. MARUTI TO SOURCE DIESEL ENGINES FROM FIAT Maruti Suzuki India Ltd (MSIL) is unable to meet domestic demand with captive diesel engine capacity, MSIL will now source diesel engines from Italian automobile giant Fiat. This was confirmed by MSIL Chairman RC Bhargava. The company is exploring the possibility of sourcing diesel engines from somebody else, because making a big investment in expanding their own engine capacity is not prudent in this situation. Maruti has a licensing pact to produce Fiats 1.3 multi-jet diesel engines at its Manesar facility since 2007.The engine was initially fitted in Swift and was later strapped on to DZiRE, Ritz and SX4 models. This engine was sourced directly by Marutis parent Suzuki Motor Corp from Fiat Italy.

CORPORATE LEADERS ASK FOR PRACTICAL SOLUTION TO LOKPAL ISSUE Corporate leaders viewed that Anna Hazare and the government should find a practical solution on measures to fight corruption, saying the interest of the nation must be given utmost priority. Rahul Bajaj, chairman of Bajaj Auto Ltd. stated that if the government is not in a position to meet the demands of 'team Anna' to strengthen the Lokpal Bill, then it should ensure that the 'Jan Lokpal Bill' is introduced through a private member in Parliament. This will enable Parliament to discuss both the bills. And what the majority of Parliament wants, Anna has already said he will accept the decision of Parliament, which according to both the government and Anna, is supreme. Without commenting specifically on Anna Hazare's protest and the state of corruption in India, Future Group CEO Kishore Biyani emphasized the need to strengthen morality in the system. Also stated that India will have to re-establish values, morality and integrity. The nation has to be treated larger than an individual. We as a nation have lost our values and need to bring it back in the system. Stating that the government seems to have erred in not sensing society's ire at deep-rooted corruption, Madison World Chairman Sam Balsara stated that it should actively work with Anna to find a lasting and practical solution. However, one cannot suddenly come up and get all the powers to pass a bill since we have a Parliamentary system in place.

TATA LOOKING FORWARD TO CONSTRUCT THE WORLDS CHEAPEST HOME Tata is all set to try its hand in constructing the worlds cheapest house worth 500 Euros, named as Euro 500 Home. After launching the worlds cheapest car Nano, the company is looking forward to build a house in 20 square meters which will cost only 32,000 rupees. The project being examined in West Bengal is an idea pioneered by a group of 15 people from Tata Steel's Indian and European units. The project is claimed to be less expensive than Tatas own project of Nano Homes, worth $7800, was specially being designed to provide shelter to the people who had shifted to the urban areas leaving behind their rural area. TATA has already prepared 2-3 different designs based on discussions with users and are gathering more feedback. in the next 6-8 months they will be able to roll it out in the market nationally. The company aimed to produce a plan of house which amounted less than 40,000 rupees per house, so that people from rural areas were capable to pay out the cost of the house.

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ECONOMY WATCH PUSH AGRICULTURE, MANUFACTURING GROWTH FOR 9.5% EXPANSION IN 12th PLAN: PANEL According to the growth scenarios drafted in the Approach Paper for the 12th Plan (2012-17), it is possible to achieve high economic growth on back of robust performance in the other sectors of the economy. These projections were provided in the document which has recently been approved by the Full Planning Commission headed by the Prime Minister Manmohan Singh. However in order to achieve 9.5 per cent, the government will have to raise farm sector growth target to 4.2 per cent from estimated 3.3 per cent in the 11th Plan (2007-12). Although the Commission had set a target of 4 per cent growth in 10th Plan (2002-07) also, but country could achieve 2.3 per cent. Similarly, the panel would have to raise the growth target of manufacturing to 11.5 in 12th Plan from estimated 8.3 per cent in the current Plan. The other important areas include electricity, gas and water supply where Commission suggests that 9 per cent growth is required to achieve 9.5 per cent economic growth in next Plan. Electricity, gas and water supply combined together are expected to register a growth rate of 6.4 per cent in current Plan which is lower than 6.8 per cent achieved in the 10th Plan.

US LOSING GROUND TO INDIA, CHINA IN SCIENCE, TECHNOLOGY: OBAMA With the problem of a sluggish economy and rising unemployment, President Barack Obama is worried his country where America traditionally has a comparative advantage is fast losing ground to India and China in the fields of Science and Mathematics, expertise in which raises employability. Obama again exhorted American students to focus hard on competing with their counterparts in India and China. "One of the things I'm worried about and we're trying to put a lot of emphasis on in the Department of Education is, can we do more to encourage math, science, engineering, technology learning... if you are a skilled engineer, if you are a skilled computer scientist, if you've got strong math and technical skills, you are going to be very employable in today's economy," Obama said. "That has to start even before young people get to college. So we're trying to institute a whole -- what's called a STEM programme -- science, technology, engineering and math -- in the lower schools so that kids start getting oriented towards those fields," he said.

MORGAN STANLEY LOWERS INDIAS 2012 GDP FORECAST TO 7.4% Investment banking major Morgan Stanley has revised downwards its Indias economic growth forecast for 2012 to 7.4 per cent. The global brokerage firm has also reduced its year-end target for the Bombay Stock Exchange benchmark Sensex by 15 per cent to 18,850. Morgan Stanley reduced its forecast for Indias gross domestic product growth for 2012 to 7.4 per cent from 7.8 per cent amid high inflation and weak global capital markets environment. Its new Sensex target for December 2011 is down 15 per cent to 18,850 points and the December 2012 target is 22,750. Key positives for Indian equities outlined by the brokerage include surging corporate activity and good progress in sowing season, which bodes well for respective rural incomes and taming food inflation. According to the report, the main factors that could adversely impact the markets include oil prices, inflation, high rates, slowing growth and alleged corruption scandals.

GOVTs DEBT CROSSED $41 TRILLION GLOBALLY IN 2010 The total amount of debt incurred by governments across the world jumped to a staggering $41.10 trillion last year, accounting for 69 per cent of the global GDP, because of stimulus packages and anemic economic growth. Public debt outstanding (measured as marketable government debt securities) stood at $41.10 trillion at the end of 2010, an increase of nearly $25 trillion since 2000. Last year alone, government debt accounted for about 80 per cent of the overall growth in total outstanding debt. According to the McKinsey report, government debt worldwide was $31.7 trillion in 2008. The report pointed out that budget deficits have increased due to stimulus packages and loss of revenues due to anemic growth. Pension and healthcare costs are increasing as population age and unfunded pension and healthcare liabilities are not reflected in current government debt figures.The report was prepared by McKinsey Global Institute (MGI), the business and economics research arm of McKinsey. Meanwhile, overall outstanding debt worldwide has more than doubled in the past ten years to $158 trillion in 2010. Debt also grew faster than GDP over this period, with the ratio of global debt to world GDP increasing from 218 per cent in 2000 to 266 per cent in 2010.

FICCI SEEKS SPEEDY IMPLEMENTATION OF GST TO CURB PROBLEM OF BLACK MONEY Industry body FICCI has sought efficient implementation of the proposed goods and service tax (GST) saying it could also help curb the cash economy in the country, and hence the problem of black money. Sachin Menon, co-chairman of FICCI said that GST is a perfect platform to unearth black money, if somebody has to evade taxes under GST, buyer and seller both has to connive. Therefore, avenues for tax evasion will be much lesser. Efficient sale and purchase tracking under the GST will ensure that no transaction goes unrecorded and this will limit generation of black money. FICCI President Harsh Mariwala stated that the proposed exclusion of sectors, such as petroleum, natural gas, real estate, alcohol and power generation, would result in significant adverse implications for the sectors which consume these goods. EMERGING MARKETS WILL NOT SAVE THE WORLD IF WEST SLIDES BACK INTO RECESSION Emerging markets will not save the world if the West slides back into recession. In an interconnected global economy, decoupling is a beguiling myth. As fears mount that the developed world is shifting from slow growth to no growth, emerging markets seem many economists better placed to weather the storm than they were during the great financial crisis of 2008/2009. RBI LIKELY TO GO FOR ANOTHER RATE HIKE IN SEPTEMBER: EXPERTS The Reserve Bank of India is likely to continue with its tight monetary policy stance to fight inflation and effect another hike in key interest rates in September, even though the global economic environment is on a downslide. Global investment banking major Morgan Stanley also thinks, "The RBI will continue with its antiinflationary stance with one more 25 basis points hike in order to anchor inflation expectations decisively, barring a further deterioration in the growth outlook." The apex bank has hiked the key policy rates 11 times since March, 2010, to curb inflation, which has been hovering above the 9 per cent mark since December last year. Headline inflation stood at an eight-month low of 9.22 per cent in July. However, this was much above the Reserve Bank's "comfort zone" of around 5 per cent. Despite several interest rate increases, the rising discretionary income of the middle class is likely to exert upward pressure on inflation. In its Economic Outlook for 2011-12, the PMEAC had projected inflation to remain high at around 9 per cent till October, before moderating to around 6.5 per cent by March, 2012.

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INDUSTRY WATCH AUTO, REALTY LIKELY TO BE HIT MORE BY RISE IN BORROWING COST Interest-sensitive sectors like automobiles and real estate are likely to get affected more compared to other segments by rise in borrowing cost. To tame inflationary pressure, the Reserve Bank has hiked key policy rates 11 times since March 2010 by a cumulative 325 basis points. This led to a rise in borrowing cost which in turn played a role in decelerating growth in industrial production. During the first quarter (April-June) this fiscal, the industrial output, as measured by the Index of Industrial Production (IIP), stood at 6.8 per as against 9.6 per cent in the corresponding three-month period last year. The observed deceleration in growth in automobile and real estate sector also owes to higher prices arising from the market conditions. The rise in interest rates was a concomitant of the series of policy rate hikes by the RBI to control inflation and to rein in inflationary expectations in the economy. The government has been giving interest subvention to certain sectors of the economy to cordon off the impact of continuous rate hike. IRDA RELEASES NORMS FOR STAKE TRANSFER BY INSURANCE COMPANIES The Insurance Regulatory and Development Authority (IRDA) made it mandatory for insurers to seek prior approval in case of stake transfer to domestic entities or financial institutions and set guidelines for seeking approval. As per an IRDA circular, the regulator will carry out the requisite due diligence of the proposed transferee or shareholder prior to grant of approval for registration of transfer of shares under the provisions of Sec. 6A (4) of the Insurance Act, 1938, and for issue of shares to the proposed transferee or shareholder. The circular assumes significance in the light of Bharti-AXA Reliance Industries deal and Punjab National Bank proposing to pick up 30 per cent stake in the MetLife India. END TO UNSOLICITED SMS WITHIN SIX WEEKS: KAPIL SIBAL The menace of unsolicited text messages (SMS) in mobile phones is likely to come an end in six weeks when the Do Not Disturb (DND)' number 1909 becomes operational. This will be in place in the next six weeks. Mobile phone users can opt for not receiving SMS in seven categories such as real estate, credit cards, consumer durables, banking and finance, by registering their number in the National Do-Not-Call (NDNC) registry by calling or sending an SMS to toll-free number 1909.Once a number is registered, the server will block unsolicited text message if a tele-marketer tries to send it. On first offence, a fine of Rs.25, 000 will be imposed and a similar amount will be imposed on subsequent five offences after which the registration of the tele-marketer will be cancelled. Giving details of the actions taken on complaints against telemarketers, Mr. Sibal said 72,988 registered telemarketers and 18,835 unregistered telemarketers had been disconnected. The regime of fines had already been put in place. MOBILE BROADBAND COULD FUEL GROWTH Pointing out that broadband connectivity could be a driver of socio-economic improvement, a global study has said a 10 per cent increase in broadband penetration in India would contribute to $80 billion of net revenues across the country's transport, healthcare and education sectors by 2015. A 10 per cent increase in broadband penetration will lead to net growth revenue increases of 42 per cent in the healthcare sector (equating to an additional $27.4 billion), 36.8 per cent in education (extra $31.2 billion) and 18.8 per cent in the transport sector (an additional $20 billion). At present, broadband penetration in India is 1.7 per cent and by 2015 it is likely to rise to 12.5 per cent. According to GSMA Senior Director Robindhra Mangtani, Simply put, if the Indian government allocates sufficient spectrum in the near future, it will open up a staggering economic opportunity. PM said India is the second largest mobile market in the worldit has an opportunity to shape the mobile industry of the future.

21 m KG DROP IN WORLD TEA OUTPUT In a statement UPASI (The United Planters' Association of Southern) Tea Committee Chairman Peter Mathias stated the prospects for tea exports were picking up. The reasons for his optimism and referring to the trends in the tea sector in the first half of the current year, he said out that there was a shortage in the world supply. The subdued supply level in the world tea market was a result of lower Kenyan crop by 34.5 million kg. Though this was partially compensated by higher North India crop of 23.9 million kg, world tea production in the first half was lower by 20.6 million kg. In the South, the crop was down by 4.6 million kg due to dry weather in the first quarter of this calendar year. The lower export (16.2 million kg) from India in general and South India in particular was on account of disturbance in the West Asia North Africa (WANA) region and also due to payment problem with Iran. As the situation is improving in the WANA region, export to the region is bound to pick up in the second half of 2011. A close scrutiny of offering in major auction centres such as Mombasa and Colombo suggests that the quantity offered at the forthcoming auctions are low, implying tighter supply position in the short-run. INDIA HOLDS 40% OF DUBAI EXPORT MARKET Dubai export markets by value are highly concentrated in India and Switzerland, comprising 40 per cent and 20 per cent, respectively, a government agency has said. According to Dubai Exports, an agency of the Department of Economic Development (DED), this has been due to the export of gold to these countries, whereas other direct exports go mainly to Gulf Cooperation Council (GCC) and the neighboring countries in small shares. While India still took the biggest portion of 36 per cent of direct re-exports, there was a clear pattern of re-exports relative focus in Iran and Iraq with 17 per cent and 5 per cent shares respectively, including a number of other markets in small shares. Also, based on trade flows, the report highlighted some trade opportunities with Free Trade countries that can benefit from free duties. In 2010, Dubai has been exporting diverse products, such as gold and precious metals, sugar, plastics & food, in various target export markets particularly in South and West Asia. JAPANESE FASHION GIANT UNIQLO IN JV TALKS WITH ADITYA BIRLA, DLF Japanese fashion giant Uniqlo has held discussions with Aditya Birla Group and DLF Retail to enter the Indian market through a joint venture. The ongoing talk with Madura Fashion & Lifestyle, a division of Aditya Birla Nuvo, was fairly advanced as Uniqlo wants to tap India's relatively robust consumer market to offset setbacks at home. The $9 billion Tokyo-headquartered Uniqlo's parent Fast Retailing Co Ltd - famous for its basics, t-shirts, socks and jeans - competes with global peers H&M and Gap Inc with fast forward merchandise and sharp pricing. Uniqlo's aggressive pricing makes it a scalable business model in the Indian market and has attracted the interest of potential Indian partners, including Madura. Uniqlo typically enters international markets either on its own or through a joint venture. NUCLEAR POWER GENERATION TO TOUCH 20,000 MW IN 20 YEARS The country's nuclear power generation is expected to reach 20,000 MW in another 20 years, a top official of the Indira Gandhi Centre for Atomic Research (IGCAR) disclosed. At present about 4,785 MW is being generated by 20 atomic power stations of different capacity across the country and it would touch 7,300 MW by 2013. With more reactors in the pipeline, it is expected that the production of nuclear power will reach the 20,000-MW-mark in 20 years. On safety aspects, all atomic power stations were safe and necessary standards ensured, the measures were rechecked and reassessed, particularly those in Tarapore and Kalpakkam after the recent reactor meltdown in Japan.

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FACTS OF THE WEEK 1. Bajaj Auto, Indias second-biggest two-wheeler maker may set up an assembly plant in Indonesia in a bid to increase presence in Southeast Asia and gain from the lower duty structure in the worlds third-largest market. Known for its Pulsar brands of bikes, the Pune-based firm is looking to spend $150 million (Rs 675 crore) to set up the facility. 2. Peugeot Citreon, is firming up plans to launch a mid-sized sedan in the Indian market, automobile and agri machinery manufacturer Sonalika Group is gearing up to introduce its first passenger car on Indian roads in the next financial year. Sonalika Group, largely known for the tractors it manufactures under the same brand name, has tied up with Italian design house Pininfarina to develop a luxury sedan for the Indian market. 3. Indian investors have lost 9 lakh crore as a result of meltdown in US and Europe. 4. The rupee fell to a five-month low on speculation that international investors would increase sales of local assets on signs the regions economies are weakening. 5. India, the biggest sugar user, may produce less than it consumes as early as October 2012, possibly spurring the first net imports in three years, said ITC Ltd. 6. After a small fall last week, gold prices recovered to over Rs 27,000 per 10 grams, this week. On Friday, the yellow metal closed at nearly Rs 28,000. In the last one year, gold has returned nearly 45 per cent and in six months, the metal has given over 30 per cent. 7. Muthoot Finance, the largest gold-loan non-banking finance company is planning to raise another Rs 1,000 crore through listed retail non-convertible debentures (NCD), if its first such exercise closes successfully 8. International Business Machines Corp (IBM) has developed a computer chip inspired by the human brain that may predict tsunamis and highlight risks in financial markets, the company announced today. The technology, called cognitive computing, is programmed to recognise patterns, make predictions and learn from mistakes, has human-like capabilities not possible using todays best computers. Its a sharp departure from traditional chip design concepts. 9. Banks lower US economic growth forecasts. Bankers now dont see growth potential in US and want to play safe. 10. RBI panel has told the Central bank to WAIT & WATCH. Panel has asked bank not to change its monetary policy in hurry. 11. Future group, Kishore Biyanis business, has announced that firm is going to invest Rs.100crore to expand its business in India. 12. Countrys largest carmaker Maruti Suzuki India is aiming higher with plans to roll out a global car by 2017. The company will develop the car, with some assistance from parent Suzuki Motor Corp (SMC), targeting the European and Japanese markets. 13. Japan's Honda Motor Company on Thursday introduced the new version of its premium hatchback Jazz at reduced prices to boost sales in the price-sensitive Indian car market. 14. After consolidating its position in the mobile handset market, Samsung Electronics is now focussing on the Indian camera market that is growing at over 30 per cent annually and is likely to touch 40-lakh units by the end of this year. 15. Force Motors announced its entry into the personal vehicles space by launching its new sports utility vehicle (SUV), Force One in Mumbai on Friday. The vehicle is priced at Rs. 10.65 lakh (ex-showroom Delhi).

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INTERVIEW

Indian IT still in early stages of growth: Narayana Murthy, former Infosys chairman ET Now caught up with NR Narayana Murthy, Chairman-Emeritus, Infosys, for his views on a number of issues facing Infosys currently as well as its future growth strategy. Excerpts: Is it feeling a bit strange to not have to report to work this Monday morning? Are you going to miss the campus? No, actually if you look at my schedule during the past 5 years, I have been spending much more time outside Infosys and therefore, I do not think I would miss too much. Of course, it is always a great pleasure to go to Infosys, it is a great feeling to go and meet the people with whom I have worked for the last so many years. But other than that, no, I do not think I would miss it. Challenging times for Mr. Kamath to take over. The US economy is staring at a double dip. What is your sense, will client budgets take a big knock? It is too early to say but from whatever we have talked to, I do not think corporations have been hit. I do not think their budgets have been hit. So in that sense, it is too early for anybody to say and the data that we have so far is that things will continue to be business as usual. So from an IT sector point of view, how different is this crisis going to be from the one that we saw in 2008? No, this is, of course, seminal because it is the first time in the history in the US, in the last probably 80 years or so or 90 years, that it has been downgraded from AAA. So in that sense, of course, it is a seminal event, but whether that is going to have any impact on the spending of the corporations in IT, it is too early to say.

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ZARGONOMY Bootstrapping: In business, this term refers to the process of financing a business by internally generated cash flow as opposed to "kickstarting" the company with external investment capital. It means keeping salaries and expenses down while generating customer sales to fuel the growth of the venture Bottom Junkie: Those entrepreneurs that were caught up in the 1999-2000 euphoria surrounding internet stock deals. They got "addicted" to concepts of easy money, high spending, grow big or go home ideas. Cramdown: When investors get heavily diluted by a subsequent round of investment especially when the investment is a down round. Also known as a washout. Goodwill Impairment: An asset reported mainly as goodwill on the balance sheet may be worth much less than the value reported. In this case the good will is impaired and the company will likely have to take a write-down on this asset. This often happens when intellectual property such as software is acquired and a premium price is paid for it. Subsequently, if the software is not commercialized, the goodwill associated with it must be reduced - often to zero. Lamfalussy: The new processes for the development of legislation adopted for the securities sector and in the process of being implemented for banking and insurance. Under this approach, framework directives are adopted under the current co-decision procedures, but measures designed to implement the detailed requirements are approved through comitology. Hysteresis: The failure of macroeconomic variables to return to their original values after a temporary economic disturbance. Horizontal merger: This is where two or more companies in the same industry merge. This gets rid of competition and increases their buying and selling power. Horizontal integration: This is where two businesses merge were they are at the same stage in the production cycle of an industry. i.e one car dealership takes over another car dealership. Madrid Protocol: Provides for the protection of trade marks in a number of countries by means of a single application. Fiduciary: A person entrusted to manage the assets and interests of another. For example, an executor in a will be a fiduciary. Quasi-corporations: These are unincorporated enterprises that function as if they were corporations, and are treated as such for classifying to institutional sectors. There are three main types of quasi-corporation in the accounts: unincorporated enterprises owned by government that are engaged in market production, unincorporated enterprises (including partnerships) owned by households and unincorporated enterprises owned by foreign residents. Quantize: Where the assets and liabilities of a company is converted into another currency than what the company trades in. Double Dip Recession: A double-dip recession refers to a recession followed by a short-lived recovery, followed by another recession.

Seigniorage: Revenues gained from the issuance of notes and coins by a central bank, where banknotes and coins cost less to produce than their face value or selling price.

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JOB WATCH

Uranium Corporation of India limited Uranium Corporation of India ltd invites applications from Indian citizens for various management level posts Aug 2011. Types of jobs: Chief Manager (Accounts)/ Manager (Accounts)- 01 Post Chief Manager (EDP)/ Manager (EDP)- 01 Post Addl. Controller of Stores- 01 Post Add. Superintendent (Electrical)/ Dy. Superintendent (Electrical)- 02 Posts Add. Superintendent (Mill.)/ Dy. Superintendent (Mill.)- 02 Posts Addl. Manager (Personnel)/ Dy. Manager (Personnel)- 02 Posts Addl. Superintendent (Mines)/ Dy. Superintendent (Mines)- 02 Posts Assistant Manager (Accounts)- 03 Posts Management trainee- 26 posts in various disciplines Total Number of Sakari Naukri: 40 Age Limit : 30 to 45 years Location of Govt Jobs: Jharkhand Last Date of apply for these posts is 19 September 2011 Important Dates: Last date for on-line registration of application by candidates: 19.09.2011 Last date of accepting registration forms (Hard copy) with required documents by post: 29.09.2011 How to Apply: You can apply online through official website www.ucil.gov.in starting from 12/08/2011. You can visit here http://www.ucil.gov.in/web/jobs/jobs.html for more information on posts and application form.

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ENTREPRENEUR

Name Education Industry Products Country Company Website

Kishore Biyani, MD & Future Group CEO Graduation in commerce Retail Discount Stores, Supercenters India Future Group http://www.kishorebiyani.com/

Kishore Biyani (Born on 9th August, 1961) is the Group CEO of Group and Managing Director of Pantaloon Retail. Over the years he has led the emergence of Pantaloon Retail as the leading retailer in the country. While retail continues to form the core business of Future Group, Mr. Biyani has led the group to foray into allied businesses across the consumption space. Background: The story of how a simple shopkeeper who started off by sold stone wash fabric to ordinary retailer and later became a retail-magnate himself. The story about Kishore Biyani and his extraordinary stunt in the business with unconventional ideas. The man who retained Indian-ness in his business concepts be it Pantaloons, Big Bazaar or Central. A must read for all enterprising entrepreneurs. His favorite mantra-Rewrite Rules, Retain Values. Kishore Biyani is the Group CEO of Future Group, one of Indias leading business houses with businesses in retail; capital and investment advisory services; consumer finance; insurance; brand development; retail media and logistics. Headquartered in Mumbai, the group has a footprint in 53 cities in India and employs over 25,000 people. Education: Graduation in commerce Career Led by its flagship enterprise, Pantaloon Retail, the group operates around 16,000,000 square feet (1,500,000 m2) of retail space in over 85 cities and towns and 65 rural locations across India. Headquartered in Mumbai (Bombay), Pantaloon Retail employs around 35,000 people and is listed on the Indian stock exchanges. Future Groups retail arm follows a multi-format retail strategy and some of its leading formats include, Big Bazaar, Central, Food Bazaar, Pantaloons, Ezone, Home Town and Planet Sports. It also operates popular shopping portal, futurebazaar.com and rural retail chain, Aadhar. Future Groups other businesses include financial services, insurance, brand development and logistics. Philosophy

A staunch believer in the groups corporate credo, Rewrite Rules, Retain Values, Kishore Biyani considers Indianness as the core value driving the group. He recently authored the book, It Happened In India.He also has philanthropic ventures.

Personal life Kishore Biyani was born in August 1961 and is married to Sangita Biyani. They live in Mumbai with their daughters, Ashni and Avni. Awards Ernst & Young Entrepreneur of the Year Award CNBC Indian Business Leaders Awards 2006 The First Generation Entrepreneur of the Year Lakshmipat Singhania IIM Lucknow National Leadership Awards 2006 Young Business Leader

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UPCOMING EVENTS

MEGA BIZ WIZ ON AUG 26 2011

ALL MANAGEMENT STUDENTS CAN PARTICIPATE IN THE QUIZ TIME AND VENUE: 2-5PM, SHRI BALDEV RAJ MITTAL AUDITORIUM THERE WILL BE TWO MEMBERS IN EACH TEAM, STUDENTS CAN FORM THEIR TEAM WITHIN THEIR SECTION OR WITH ANY STUDENT FROM MANAGEMENT BLOCK. QUIZ WILL BE OF SEVERAL ROUNDS AND THERE WILL BE 6 TEAMS IN THE FINAL ROUND. LAST 3 FINALISTS WILL BE GIVEN CASH PRIZES WITH CERTIFICATES.

HOW TO REGISTER: STUDENTS CAN GET THE FORM DOWNLOADED FROM UMS NOTIFICATIONS AND SEND THE FILLED FORM at synapzclub@gmail.com

WE REQUEST ALL THE FACULTY MEMBERS OF MANAGEMENT BLOCK TO MAKE THEIR PRESENCE IN QUIZ.

FOR FURTHER DETAILS REGARDING QUIZ, CONTACT: +91-9988179147, +91-9915527480

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