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Vol 3 Issue No.26 December 2013 | 30 | AED 5

Resolving complaints with the help of your friendly neighbourhood BANKING OMBUDSMAN Jiz P. Kottukappally

GOLD LOAN

THE IMPORTANCE OF

HIGH LTV

Shri V.P. Nandakumar is the MD & CEO of Manappuram Finance Ltd.

Auto Review

The Fast & The Frugal The VW GT TDI

IT Professionals FRANCHISING

turning entrepreneurs taking

AS A ROUTE TO SUCCESS

Interview with C K Menon, Chairman and Managing Director, Behzad Corporation / uniquetimes

/ uniquetimes


Managing Editor Ajit Ravi Editor Jebitha Ajit

Editorial

Associate Editor Bejoy George Assistant Editor Denisha Sahadevan Legal Advisor Adv. Sreelatha Parameswaran Correspondents Dr. Thomas Nechupadam Tressa Varghese Sheela Abraham Sreerekha R. Nair Vivek Venugopal - Quarter Mile Creative Design Ashique K. Gilsha Bindosh Marketing Vice President, Marketing Neeti Sharma, Ph: +91 88009 22566 Vineeth P.S. Tamquest entertainment LLC PO box 232886, Dubai UAE Riju Rajan, Ph : 97555776966 Bharath Kantham, Andrapradesh, Ph: 95500 54943 Anupama Suvarna, Karnataka, Ph: 0966 362 8748 Vineeth P.S., Ph: 95670 50283 Pramodh P.R., Ph: 96337 50283 Jenson Antony, Ph: 94474 50283 Photographer Jinish, Photogenic Our Patron: Mr. V.P. Nandakumar Printed and Published by: Ajit Ravi Pegasus, L5-106, Changampuzha Nagar Kalamasserry, Kochi-33

I am happy to present you this edition of Unique Times. I want to thank you for the wonderful response that you have given to the last edition of our magazine. This edition we are honoured to have an interview with Padma Shri CK Menon. He is an extraordinary businessman and a great philanthropist. His company Behzad Corporation is a transnational conglomerate based in Qatar, with operations in Saudi Arabia, Sudan, UK, UAE, Kuwait and India. The corporation has its presence in varied industries like commerce, logistics, oil, manufacturing, education and food. In the interview he speaks about his background, education and how he bet all odds to emerge as one of the biggest conglomerates in the Middle East. In our regular columns, Mr. V P Nandakumar writes about gold loans and the importance of high LTV. Dr. Thomas Nechupadam writes about entrepreneurship. In the auto review column, our correspondent reviews the Volkswagen Polo GT in detail. I want to thank you all the continued support. I will certainly be happy to receive your feedback Hope you all will enjoy this edition Happy reading Thanks

Ajit Ravi

Printed at: S T Reddiar, P.B. No: 3627, Veekshanam Road, Cochin Contact: Ph: 0484 3242220, 3292223, 3046432 Mob: +91 98460 50283, 94470 50283 editor@uniquetimes.org

Our Patron Mr. V.P. Nandakumar Cover Photograph:

C K Menon Chairman and Managing Director, Behzad Corporation

RNI Reg. No: KERENG/2011/42633 * All rights reserved worldwide. Reproduction in any manner without permission of proprietors is prohibited.


Contents

30 THE IMPORTANCE OF

HIGH LTV

Shri V.P. Nandakumar is the MD & CEO of Manappuram Finance Ltd.

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Do you have it in you?

TOP FIVE

entrepreneur S K I L L S

Merging

Business with Philanthropy

Interview with C K Menon, nChairman and Managing Director, Behzad Corporatio

Dr. Thomas Nechupadam

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46

12 Jiz P. Kottukappally

Resolving complaints with the help of your friendly neighbourhood

BANKING OMBUDSMAN

IT Professionals turning entrepreneurs taking FRANCHISING

AS A ROUTE TO SUCCESS

Gadgets

36


20

The Beauty & Dazzle of

New York

CITY

The Importance of

Eating Healthy

Exercising

52

24

61

The Fast & The Frugal

The VW Polo GT TDI Being a

Business woman

in Today’s World

14 Marketing Lexicon

44 WORRY-FREE TRAVELLING


Unique Diary

Catch Has Caught Vidya Balan!

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e haven’t really heard of Vidya Balan lately so now here’s news. FMCG Company of DS Group has asked Mrs. Vidya Balan to be its brand ambassador for Catch products. According to the food and beverage company Vidya Balan will be featured in a new advertising campaign, showcasing the woman who has climbed her way to success in acting where she has exhilarated everyone with her talent for acting. In taking on Vidya Balan as the brand ambassador, Catch is taking on an important marketing step as they take a step into establishing the product name as a brand in the mindset of consumers in India. In having Vidya Balan, the Noida based company is aiming to focus on connecting with the Indian women on an emotional basis.

The critical ingredient is getting off your butt and doing something. It’s as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not a dreamer. Nolan Bushnell

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UNIQUE TIMES December 2013

Imerman Interested in Buying Back Whyte & Mackay

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t seems that Whyte & Mackay’s former chief executive Vivian Imerman is interested in buying the company back from Diageo, the company was willing to be sold. When Whyte & Mackay was led by Vijay Mallya in the year of 2007, Mr. Imerman who is at the present time running an investment firm called Vasari, had sold the company for a price of 595 million pounds to United Spirits. Diageo has recently acquired $2 billion of United Spirits which has made it so to become anti-competitive. A spokesman for Vasari stated that “Whyte & Mackay would make an important addition to the portfolio of spirits and beer businesses in Africa and Asia where Mr. Imerman has been concentrating his efforts through his company Vasari since his five year restraint expired last year.”


BBMP’s Final Notice to Wipro

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elieve it or not, a threat of legal action has been taken up by the authorities against one of India’s largest IT firm’s Wipro for not having paid 16.47 crore property tax as requested by the Bangalore municipal corporation. Taxation and Finance Chairman, M S Shivaprasad of Bruhat Bengaluru Mahanagara Palike has said that Wipro “still owe us 16.47 crore in tax and dues, but despite sending them repeated notices, Wipro officials are not paying the amount. We have sent them the third and final notice, but still they are trying to buy time.” If failed to pay up even after having three notices send, the corporation would be able to confiscate the movable properties of tax defaulters. Wipro is going through all legal options in order to seek redressal.

The winners in life think constantly in terms of I can, I will, and I am. Losers, on the other hand, concentrate their waking thoughts on what they should have or would have done, or what they can’t do. Dennis Waitley

Lodha Group’s Wins The Bid

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hen Canada’s embassy building was put up in London’s prime Mayfair district, the Mumbai based real estate developer Lodha Group made certain to snatch it up at the price of around $530 million. After having made such a big catch with such a grandeur building, one can only wonder what it will be used for, and the answer is a luxury residency for the super rich. The seven story Canadian high Commission in Grosvenor Square will be used to “create a world class development, which befits the status of the address,” stated Abhishek Lodha, the MD of Lodha Group. Only after a very competitive bidding which involved global developers and sovereign wealth funds, was the Lodha group able to achieve the success of winning the bid.

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Unique Diary

Looking for an Increase in FII’s

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ower Grid has asked for its shareholders’ approval to increase the shareholding limit by foreign institutional investors (FII’s) in the company to 30 percent from the present 24 percent stating that increasing this limit will provide more room for foreign investments. The current holding of FII’s in the company is about 16 percent of paid up capital. The holding which the foreign investors’ have has increased since the company’s FPO in 2010. Power Grid is expected to out with its current FPO in December. The firm has stated that in increasing the limit it would also be enabling FII’s to acquire shares within the limit under the portfolio investment scheme of the Reserve Bank of India.

There is no royal, flowerstrewn path to success. And if there is, I have not found it. For if I have accomplished anything in life, it is because I have been willing to work hard. C.J. Walker

Heidelberg Cement India

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y issuing non-convertible debentures on private placement basis, Heidelberg Cement India which entered into the Indian market in the year of 2006 is planning to raise 370 crore rupees. For the purposes of obtaining credit rating, Heidelberg Cement India as appointed a Fitch group company, India Ratings and Research as a credit rating agency. Recently Heidelberg Cement India had shared its plans to increase its capacity in India from the current 5.4 mtpa capacity to 15 mtpa within the span of three to four years through inorganic and organic routes which involves over 8,000 crore investment.

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Reliance Power

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nil Ambani’s group firm Reliance Power has stated that they are going to commission a 100 MW solar project in Rajasthan’s Jaisalmer district by March of next year. The 100 MW CSP plant which is going to be located next to the 40 MW solar photovoltaic project which was commissioned by the company last year is going to be built at the price of 2,100 crore rupees. The CSP project had been won by Rajasthan Sun Technique Energy Pvt Ltd, which is a wholly owned subsidiary of Reliance Power in an international competitive bidding which was conducted by NTPC Vidyut Vyapar Nigam Ltd. This project happens to be the largest investment which has been understaken by any private sector in CSP Technology in India.

The critical ingredient is getting off your butt and doing something. It’s as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not a dreamer. Nolan Bushnell

Vodafone

V

odafone Group has been asked to submit its objections to a tax claim on the pricing of the shares which were issued by a local subsidiary to another unit to the tax authorities’ Dispute Resolution Panel by the Bombay High Court. According to the authorities Vodafone had under priced the shares which were issued over four years ago to a Mauritius based unit of Vodafone by nearly 1300 crore rupees and had become liable to pay tax on the differential. Stating that the share subscriptions had not failed within the scope of transfer pricing rules in India nor internationally speaking, Vodafone had said that in February it had received the transfer pricing order from the tax office regarding the share transaction thus challenging the Bombay High Court.

December 2013 UNIQUE TIMES 09


Unique Diary

Protest Taking Its Toll

T

he protests are starting to take its toll on Coal India Ltd as it is starting to have an impact on the output of 200,000 tonnes a day which is sending an alarm through the power producers who are facing tight supply at the time. The Talcher field which consists of seven open cast mines, which is run by Mahanadi Coalfields Unit last fiscal year accounted for nearly a quarter of the total 452 million tones of output from the state owned firm which happens to be the world’s largest coal producer. As they supply power companies such as NTPC Ltd and aluminium maker National Aluminium Co Ltd, the situation for them have become critical and they are not sure as to when they will be able to resume production. Mahanadi Coalfields Chairman A N Sahay said that some power companies which they supply have already sent them panic text messages.

If it really was a no-brainer to make it on your own in business there’d be millions of no-brained, harebrained, and otherwise dubiously brained individuals quitting their day jobs and hanging out their own shingles. Nobody would be left to round out the workforce and execute the business plan. Bill Rancic

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UNIQUE TIMES December 2013

MCX

T

he Multi Commodity Exchange (MCX) has instructed its members to practice caution in dealing with 22 National Spot Exchange Ltd (NSEL) firms, including Mohan India and N K Protein. MCX mentioned in a directive that “members of exchange are requested to note that the entities mentioned in Annexure I have been declared as defaulters by NSEL. Members are therefore advised to exercise caution while dealing directly/ indirectly with any of the said entities.” MCX which is the sister concern of NSEL is facing a problem of having to settle payments of about 5,600 crore rupees after it had shut down operations following government order.


Amazon’s Worries’ about the Weather

A

mazon surely has its share of problems especially with the workers in Germany putting up a strike. And though Germany just happens to be the biggest market for Amazon right after United States, Amazon is not concerned about the protesting workers who they said is “about a minority who take part in actions brought on by the union.” Instead they are worried about the bad weather delaying the Christmas deliveries according to the head of the Amazon in Germany. According to Mr. Ralf Kleber “snowfall in Germany is the bigger problem in the Christmas business. That is what gives me worry lines.” The small percentage of workers who are protesting are being overlooked as he states that “Amazon is a fair employer. Many of our workers have been with us for more than 14 years. The majority of workers would say it is a good, well paid job.”

The important thing is not being afraid to take a chance. Remember, the greatest failure is to not try. Once you find something you love to do, be the best at doing it. Debbi Fields

No Rewards, Higher Salary for Bankers in London

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hen it was the 90’s, the employees of the London based investment banks had it very nice as they were rewarded with gold bars, fine wine and oriental carpets in order to dent the impact of higher payroll taxes. Now as the public has shown anger at the banking excess, the rewards are becoming less luxurious to make up for the curbing on bonuses, which includes a new monthly allowance. Salaries have not dropped in line with the banks’ revenues since the issue, and the European rules which are to be in effect as of January state that bankers’ bonuses cannot exceed their annual salary or twice that if the shareholders approve in order to stop the kind of excessive risk taking which was blamed for the 2008-09 financial crisis.

December 2013 UNIQUE TIMES 11


Banking

Banking Ombudsman Scheme is applicable to all commercial banks, regional rural banks and scheduled primary co-operative banks.

Resolving complaints with the help of your friendly neighbourhood

BANKING OMBUDSMAN

L

Jiz P. Kottukappally The author is working as Asst General Manager, Catholic Syrian Bank and the views expressed are the personal opinion of the author. Author can be reached at jizpauls@gmail.com

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UNIQUE TIMES December 2013

ast Sunday one of my neighbours came to me for redressal of what he called as a long pending issue with a bank. He had with him the counterfoil of a bank challan for Rs 21,853 dated September,2013. It was a cheque received by him from one of his customers in Andhra Pradesh. The amount was not credited in his current account till date. He had complained to the branch head and the regional office a number of times but there was no response. Being unaware as to how to take the issue forward he sought my support. I advised him to approach the Banking Ombudsman (BO) as the same is the most economical and effective way for resolving of complaints with a bank

The Banking Ombudsman Scheme (BOS ) has been introduced with the intention of enabling resolution of complaints relating to certain services rendered by banks and to facilitate the settlement of such complaints. Banking Ombudsman Scheme is applicable to all commercial banks, regional rural banks and scheduled primary co-operative banks. Banking Ombudsman is appointed by the Reserve Bank . RBI officers in the rank of Chief General Manager or General Manager may be appointed as Banking Ombudsman. Each banking ombudsman will have a jurisdiction assigned to him. The complaints that can be filed by the customers before the banking ombudsman can broadly be categorized into (a) complaints alleging deficiency in banking including internet banking and other banking services and (b) complaints


alleging deficiency in respect of loans. Complaints alleging deficiency of service can include non-payment or inordinate delay in the payment or collection of cheques, drafts, bills etc, non- acceptance, without sufficient cause, of small denomination notes and coins tendered, non-payment or delay in payment of inward remittances , failure to issue or delay in issue of drafts, pay orders or bankers’ cheques, non-adherence to prescribed working hours, failure to provide or delay in providing a banking facility (other than loans and advances) promised in writing by a bank, non-payment of deposit, nonobservance of the Reserve Bank directives, applicable to rate of interest on deposits in any savings, current or other account maintained with a bank , complaints from NonResident Indians having accounts in India in relation to their remittances from abroad, refusal to open deposit accounts without any valid reason for refusal, levying of charges without adequate prior notice to the customer, non-adherence by the bank to the instructions of Reserve Bank on ATM/Debit card operations or credit card operations, non-disbursement or delay in disbursement of pension etc. Complaints alleging deficiency in banking service in respect of loans and advances that can be filed before the Banking Ombudsman includes non-observance of Reserve Bank Directives on interest rates, delays in sanction, disbursement or nonobservance of prescribed time schedule for disposal of loan applications, non-acceptance of application for loans without furnishing valid reasons to the applicant, non-observance of Reserve Bank guidelines on engagement of recovery agents by banks etc. Any person who has is aggrieved against a bank on any one or more of the above mentioned grounds may by himself or through his authorised representative (other than an advocate), make a complaint to the Banking Ombudsman within whose jurisdiction the branch or office of the bank complained against is located. If the complaint arises out of the operations of credit cards and other types of services with centralized

operations, the compliant shall be filed before the Banking Ombudsman within whose territorial jurisdiction the billing address of the customer is located. The complaint shall be made in writing and should contain the details such as the name and the address of the complainant, the name and address of the branch or office of the bank against which the complaint is made, the facts giving rise to the complaint, the nature and

reasonable opportunity to present their case, pass an Award or reject the complaint. The award passed shall contain the direction/s ,to the bank for specific performance of its obligations. It may also include the amount of compensation to be paid by the bank to the complainant for any loss suffered by the complainant, arising directly out of the act or omission of

Customers have a period upto one year from the date of receipt of reply from the bank for filing the complaint and one year and one month after the date of the representation to the bank, where no reply is received. extent of the loss caused to the complainant, and the relief sought for. . A complaint can also be made through electronic means also. Before making the complaint to the Banking Ombudsman the complainant shall make a written representation to the bank. A complaint with BO shall lie only if the bank had rejected the complaint or the complainant had not received any reply within a period of one month after the bank received his representation or the complainant is not satisfied with the reply given to him by the bank. Customers have a period upto one year from the date of receipt of reply from the bank for filing the complaint and one year and one month after the date of the representation to the bank, where no reply is received. BO will not entertain a complaint if for the same issue any proceedings before any court, tribunal or any other forum is pending or a decree or Award or order has been passed by any such court, tribunal, or forum. On receipt of a complaint the BO will send a copy of the complaint to the branch or office of the bank named in the complaint. A copy will be send to the nodal officer of the bank also. If the complaint is not settled by agreement within a period of one month from the date of receipt of the complaint by the bank or such further period as the Banking Ombudsman may allow the parties, BO may, after affording the parties a

the bank. BO can pass awards directing the bank to pay up to Rs ten lakh or the amount of loss incurred, whichever is lower. In the case of complaints, arising out of credit card operations, the Banking Ombudsman may also award compensation not exceeding Rs 1 lakh to the complainant, taking into account the loss of the complainant's time, expenses incurred by the complainant, harassment and mental anguish suffered by the complainant. The Banking Ombudsman may reject a complaint at any stage if it appears to him that the complaint made is without sufficient cause, is not on the grounds of permitted complaints, is beyond the pecuniary jurisdiction of Banking Ombudsman, requires consideration of elaborate documentary and oral evidence , is not pursued by the complainant with reasonable diligence etc . An award shall be effective only if the complainant furnishes to the bank concerned a letter of acceptance of the Award in full and final settlement of his claim within a period of 30 days from the date of receipt of copy of the Award. If not satisfied with the Award, the complainant and the bank has an option to prefer an appeal within 30 days. If none of the parties prefers an appeal the Bank should comply with the terms of the Award within one month from the date of receipt of the acceptance in writing of the Award by the complainant.

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Marketing Lexicon

Advertorial An advertisement that has the appearance of a news article or editorial, in a print publication.

Focus Group Interview

Counter Advertising Advertising that takes a position contrary to an advertising message that preceded it. Such advertising may be used to take an opposing position on a controversial topic, or

Advertising Plan An outline of what goals an advertising campaign should achieve, how to accomplish those goals, and how to determine whether or not the campaign was successful in obtaining those goals.

A research method that brings together a small group of consumers to discuss the product or advertising, under the guidance of a trained interviewer

Corrective Advertising Advertisements or messages within advertisements, that the Federal Trade Commission orders a company to run, for the purpose of correcting consumers' mistaken impressions created by prior advertising.

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Full-Service Agency An agency that handles all aspects of the advertising process, including planning, design, production, and placement. Today, fullservice generally suggests that the agency also handles other aspects of marketing communication, such as public relations, sales promotion, Internet and direct marketing.


Investment Shri V.P. Nandakumar is the MD & CEO of Manappuram Finance Ltd.

THE IMPORTANCE OF

HIGH LTV

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UNIQUE TIMES December 2013


In the past, bullet repayment of interest and principal was the norm but these days gold loan NBFCs emphasize regular collection of interest in order to maintain the lending margins.

T

he history and growth of India’s gold loan NBFCs is best studied by dividing it into three distinct phases. The first phase was the period up to 2005 or so when no one really bothered about gold loans, when growth was slow, steady and quite unexciting. It changed around 2005 when private sector institutional finance opened out to gold loan companies. Shortly afterwards, private equity players took notice and a couple of them made strategic investments in Manappuram. A period of almost vertical growth followed that lasted till 2012.

For all the recent gains in market share by NBFCs and commercial banks, the gold loan industry in India continues to be dominated by the unorganized sector. This is no surprise because the organized sector is a relatively late entrant and began making serious headway only after the emergence of the specialized gold loan NBFCs.

The picture changed dramatically in March 2012 when the RBI stepped in to address concerns about systemic risks arising from the rapid growth of gold loans. Regulations were tightened and it was stipulated that maximum loan to value (LTV) ratio for gold loans by NBFCs be capped at 60 percent of the value of collateral. It may be noted that until this moment there were no restrictions on LTV, and the industry practice was to give loans up to 85 percent of the value of collateral. From a regulatory perspective, a high LTV is a risk because a correction in the gold price can lead to a spike in defaults. Such an eventuality, it was feared, would endanger not just the gold loan NBFCs but also the wider banking sector on which they depend for funds. In hindsight, there is no denying that the price of gold is volatile and occasionally prone to sharp corrections as well, as happened in April 2013. At the same time, the industry has clearly learnt appropriate lessons from recent bouts

of volatility and put in place corrective measures. In the past, bullet repayment of interest and principal was the norm but these days gold loan NBFCs emphasize regular collection of interest in order to maintain the lending margins. It means they are now better prepared to weather the effects of future price corrections. Moreover, the narrow focus on the risk aspect of high LTV gold loans does a disservice by obscuring the real advantages to the gold loan borrower.

The benefits For all the recent gains in market share by NBFCs and commercial banks, the gold loan industry in India continues to be dominated by the unorganized sector. This is no surprise because the organized sector is a relatively late entrant and began making serious headway only after the emergence of the specialized gold loan NBFCs. Also, the bulk of gold in India is held in rural areas where the organized sector lacks presence. As a traditional activity dominated by local pawnbrokers, the gold loans business lacked transparency and was rife with unfair practices. Customers largely belong to the lower strata of society who approach pawnbrokers when they need money urgently. Because they own gold only in limited quantities, it is in their interest that they get the maximum amount of loan so that their purpose is accomplished. In this environment, gold loan NBFCs were successful because they could win over customers from the

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unorganized sector by expanding into rural and semi-urban areas and by offering high LTV at par with the moneylenders. Experience shows that in small ticket and short duration loans, the interest rate is not the critical factor influencing the decision. Rather, the critical differentiating factor is ready availability with minimum hassles. By matching the higher LTV offered by pawnbrokers, and by offering hasslefree procedures and greater transparency (and topping it with lower interest rates), NBFCs were able to present their customers with a compelling value proposition. Indeed, it was precisely because the NBFCs went head-to-head against pawnbrokers in the matter of LTV that they could gain so much ground in such short period. Of course, the high LTV loan comes at a higher price but to a deprived borrower the overall cost works out cheaper. With limited gold and a requirement for a certain minimum sum of money, the high LTV loan meets your requirements fully. When the requirement is met only partially, the borrower has to make good the shortfall with an unsecured loan taken from a local moneylender. The interest rate is usurious and it pushes up the cost as a whole.

The alternatives While making a case for high LTV gold loans, it should be acknowledged that RBI’s concerns are valid and must be addressed. The major concern is the risk to the financial system arising from the gold loan sector’s dependence on the banks. However, a uniform cap on LTV as stipulated now amounts to microregulation and interferes with the operational freedom of the gold loan companies. It denies them space for innovation by imposing the mediocrity of a one-size-fits-all approach. It also distorts the market by conceding an artificial competitive advantage to banks and the unorganized sector where the rule does not apply. Are there, then, better

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In March 2012, the RBI had set up a working group under the Chairmanship of Shri K.U.B. Rao to carry out a comprehensive study of all the issues around gold and gold loans. options that could have been considered? Here are a few that deserve a second look. A cap on the maximum interest rates on gold loans can be considered, as was stipulated for micro-finance loans. With its direct impact on profitability, an interest rate cap would automatically slow down the pace of growth of the sector. Another option would be to limit the amount of public funds accessed by gold loan NBFCs. This would safeguard public funds invested in the sector without interfering with the operational aspects of the business. Permitting FII investment in the rupee-denominated long term corporate debt of gold loan NBFCs (within an appropriate ceiling) can also be considered. This would reduce dependence on public funds which takes care of RBI’s concerns about systemic risks. For the FIIs, the debt option holds the attraction of high and fixed returns even after factoring in hedging costs. At the same time, they would have the comfort of knowing that their exposures are fully secured by gold,

whose Indian prices move largely in accordance with international prices. Also, gold loan companies can be allowed access to the external commercial borrowings (ECB) window to reduce dependence on domestic banks.

Postscript In March 2012, the RBI had set up a working group under the Chairmanship of Shri K.U.B. Rao to carry out a comprehensive study of all the issues around gold and gold loans. The Rao committee report was released in February 2013 and it recommended that the cap on LTV be raised to 75 percent of the value of collateral. However, in September 2013, the RBI restated the cap on LTV at 60 percent. Gold loan NBFCs have since submitted a representation to the RBI requesting that the cap on LTV be revised to 75 percent, as recommended by the Rao committee. While a final word is awaited, the hope is that RBI will keep in mind the interests of the common people who depend on gold loans.


Banking Health

Exercise reduces the risk of heart disease, stroke, certain cancers, and high blood Jiz P. Kottukappally The author is working as Asst General Manager, pressure. Catholic Syrian Bank and the views expressed are the personal opinion of the author. Author can be reached at jizpauls@gmail.com Exercise can also help you to maintain healthy bones, muscles, and joints.

Credit &

The Importance of

Eating Healthy

Exercising

Having a healthy eating diet and exercising daily is the main importance and ensures you of living a healthy and long life

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E

ating healthy and exercising should be a part of every person’s day to day routine. Having a healthy eating diet and exercising daily is the main importance and ensures you of living a healthy and long life. Adapting to both can things can make a dramatic difference in how you look and feel. It can also prevent many things such as being obese, which is the most common thing that happens when you eat unhealthy every day and not getting exercising. The rate obesity is

getting higher and higher every day. Even if you are a small person in general, you may not think you need to eat healthy and exercise, but it is the best way to keep your body fit and healthy at the same time. It is also very important to maintain a healthy diet. Even with proper exercise, an unhealthy diet can cause all the hard work and effort you are putting into your routine to go to waste. Eat and try different types of fruits, vegetables, meats, and a lot of


You have to play against your mind and take every advantage you can to stay away from fattening foods, even though it can be a hard task to overcome. additional fat gain. Also, you will not get a good night's sleep because your body will be working in attempt to digest the food that you ate before bed. Not every diet works for every person, so you must find what is right for you.

protein. Try and eat a variety of food, but stay away from the sweets as best as you can. You must maintain a healthy balance of food and drink. You should at least drink 8 glasses of water each day. Make sure to eat at least 3 meals a day. If you do not do this, you may find yourself snacking on junk food in-between meals, which neglects the point of the diet in the first place. By eating more you will be eating less junk food throughout the day. You have to play against your mind and take every advantage you can to stay away from fattening foods, even though it can be a hard task to overcome. Breakfast is the most important meal of the day with lunch being the least important. If you must miss a meal then try and work your schedule, so that the meal you miss will be lunch. At night time, do not eat within 3-4 hours of doing to sleep. This allows your body time to digest the food that you have already eaten. If you eat before you go to bed, your body will not be able to fully digest the food resulting in

It is very important to get your exercise in for the day. Exercise is important because it can keep your body shape and will improve your health for the better. Many studies have shown that regular activities and exercise can improve someone’s overall health substantially. Exercise reduces the risk of heart disease, stroke, certain cancers, and high blood pressure. Exercise can also help you to maintain healthy bones, muscles, and joints. Sports competitors must do physical activity on a regular basis to maintain their level of performance because it is necessary to train the body to be able to withstand physical activity. Along with physical activity comes weight loss. Weight loss can improve the mental well-being and boost the confidence of any particular person. Also, studies have shown that people who exercise on a regular basis tend to live longer than those who don't. With all of these benefits in mind, I am not sure why anyone wouldn't want to be physically fit and active. Try exercising a minimum of 3-4 days a week, even if it is for at least 30 minutes a day. Some exercises you could do are walking, running, jogging, biking, swimming and there are plenty of other activities to try as well. My advice would be to pick something you enjoy doing and wouldn't mind doing on a regular basis and sticking to a schedule. You can even pick a few different

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activities to mix things up and keep it interesting. In weight training most people will work different muscle groups on different days in order to best work their body without overdoing it. This also saves time during the day because instead of working out for 3-5 hours in one day you can work out for an hour a day 3-5 days a week. It spreads out the exercise, so you don't get sick of it and dread going. Also, your body will respond better because you will not be putting too much stress on yourself. Also, always remember to stretch before any kind of physical activity. This is very important, so that you don’t pull or strain any muscles. One thing that people always forget is to not just eat healthy, but also to drink healthy, too. Many people consider milk and juice great sources of vitamins, nutrients, and protein. They are right, but you can’t only drink juice and milk and expect to stay healthy. You need a minimum of 8 glasses of water a day to stay in top shape. Water increases the speed of your metabolism, helps digestion, keeps you hydrated for activity, and will keep you from overheating. Stay away from soda if at all possible. Soda is filled with simple carbohydrates such as sugar which is very bad for

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you and it also contains loads of calories and fat. Caffeine is also an addictive drug found in soda which will cause you to continue drinking it even when you may be satisfied. Caffeine will also stimulate the brain and keep you awake at night causing you to lose sleep. Soda is one of the worst types of drinks you can have when trying to diet and stay healthy. I believe that the worst type of drink, however, is alcoholic drinks. They contain complex carbohydrates and loads of calories which will cause you to put on weight. Alcohol also impairs the body's ability to function at its prime level. If I could give someone advice it would be to stick with 8 glasses of water, a few glasses of milk, and maybe 1 glass of juice a day. Although, I know there are some people that do not like water, so if you are one of those people and currently

just drinking different juices and milk, I would stick to that than drinking caffeine drinks. There are many other sources of foods that can give you the vitamins found in juice, but without the sugar and fat. Look up healthy drinks and foods that appeal to you so that you can setup an appropriate diet that works for you. There are so many people that struggle and fail to do all three things that have been mentioned above but it is possible to do so. You just have to learn how to adapt to a new daily routine of eating healthier meals, drinking more water, and exercising more than you are use to. People have to eat healthy foods and exercise more to stay fit and healthy, and also to make sure you live a long healthy and happy life.


2014

Are you the one with pleasant personality and style that allures everybody? Are you the one who fire on the ramp? If yes then you can definitely apply for the finest pegeant in South India

at


Business

Being a

Business woman 24

UNIQUE TIMES December 2013

in Today’s World


Which route is the best? How much school is enough? How many certificates of accreditation is enough? How much work experience is enough?

T

People in leadership positions face overwhelming challenges to get to their positions. Not surprisingly the ones who make it to the top are predominately men, yet it's even more of a challenge if you're a women. Women are overcoming the challenges of today's glass ceiling effect, and finding success in a business world dominated by men.

he business world today is competitive. It's full of fierce, educated, and motivated people. For some people it's tough to rise to the top and for some people it comes much easier. It's not always about hard work! One might ask for a map to the yellow brick road, but very few people are ever provided with it. Most people are stuck in an ocean making calculated guesses as to how they can reach land. Which route is the best? How much school is enough? How many certificates of accreditation is enough? How much work experience is enough? All of us ask these questions attempting to navigate our ships in a competitive world were only a few individuals ever get to their targeted career position. How many of those in leadership positions are women? How many of them men? Generally the few who navigate their way to the top have learned to read their maps, but there is a surprising disparity as to who makes it and who doesn't. People in leadership positions face overwhelming challenges to get to their positions. Not surprisingly the ones who make it to the top are predominately men,

yet it's even more of a challenge if you're a women. Women are overcoming the challenges of today's glass ceiling effect, and finding success in a business world dominated by men. There are numerous challenges that women face in business. Women have made tremendous strides in facing challenges, and have provided tremendous contributions to our society. Slowly over the years women have been chipping away the bricks and mortar that have historically prevented them from taking leadership roles in business. The women who hold leadership roles hold certain traits that we'll highlight in this essay. Here are some ways a successful women in leadership can sustain their success with real life examples from successful women in leadership. What gives a person an edge? Especially during a tough economy we face uncertain times. Many companies are looking for leaders who can captain their workforce. They are looking for direction from their top leadership. When we speak of top management the first thing that comes to mind is the CEO. If

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you had to quickly name three CEO's off the top of your head who would they be? I'm sure many of you would have said Bill Gates, Steve Jobs, or Michael Dell. There is an unshocking statistic that the vast majority of people who hold top management positions are men. Even for the average Joe it would be difficult to become a CEO of a billion dollar company. There are many more weeds women need to cut through to reach the top of their respective fields. The list of challenges that women face are exponential. The following are what many would believe to be the top three challenges. Women have faced discrimination towards their gender, their ability to be assertive, and some people say women don't have the ability to take their employees to the next level. Being discriminated against for being a woman is the most obvious challenge. It has only been about a number of years since women have achieved the right to vote and though even today during the passing elections some of us still take those rights for granted. It has been an uphill battle for women seeking equal treatment to men in the work place. Yet there is still gender discrimination apparent in today's workforce. The people in the United States as

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well as many other countries have their own views of how women should place in society. Unfortunately women have been viewed as unqualified in their thought process, as well as their ability to lead. Although there are many steps in place that prevent gender discrimination it is still happening today. Statistically it is proven that gender discrimination occurs by the disparities in pay that women receive. According to an article by catalyst regarding Sex Discrimination and Sexual Harassment: "Sexual discrimination can result in: Disparities in women's and men's earnings for equal work. Because many women are equally, if not more, qualified than men, differences in qualifications no longer provide an adequate explanation for why women earn less than men for equal work. With dramatic changes in women's educational qualifications, it is increasingly that clear sex discrimination is a significant contributor to the pay gap-now more than ever before. Research suggests that, were it not for sex discrimination, women would be earning just as much as or more than men." Women face the tough challenges such as sexual discrimination that affect their ability for financial compensation, as well as the opportunity for growth.

Women face the tough challenges such as sexual discrimination that affect their ability for financial compensation, as well as the opportunity for growth Another challenge that women face is the stereotype that women are not as assertive as men. Being assertive is a common take charge trait a leader should possess. It is generally viewed differently when a man is assertive compared to a women. Society dictates that when a man is being assertive they are naturally being a leader. It is a great trait for a man to have assertiveness, but when a woman is assertive it is not viewed positively. Assertiveness in women is sometimes viewed as being overly aggressive, pushy, bossy, and the ultimate word: "catty." Women in leadership might have to second guess themselves when being assertive to not come off rude. With so many challenges which women face in the workplace, many women have risen to the top. Excellent examples would be Indra Nooyi of PepsiCo, Ginni Rometty of IBM and Ellen Kullman of DuPont. Despite the pressures from office there are also additional pressures which come off not from the work place but rather from home. The challenge comes off when women try to be the perfect employee as well as the perfect mother, and wife. To do everything at home as well as take care of the responsibilities at work is the most difficult thing, however prioritization is the key to achieving success when it comes to work and personal life. In today’s time it takes a woman who is mentally strong to handle the pressures of daily life along with the pressures at work, so when each woman is able to achieve a sense of mental stability they will be able to reach higher positions as they learn to face and overcome each and every obstacle which they are faced with whether at work or home.


Entrepreneur

Do you have it in you?

TOP FIVE

entrepreneur S K I L L S

E

ntrepreneurship has its set of advantages. There are many people who opt for start an entrepreneurial career only seeing these ad vantages. But with these advantages come a lot of challenges. An entrepreneurial career has a lot of factors under stake. First one of course is the risk and the responsibility. There is nobody to point your finger and no helping hand. Several people jump into the bandwagon without foreseeing these challenges and end up where don’t expect to be. So it is ideal to a have a self appraisal on whether you will be able to run an organization of your own. Entrepreneurship is not for everyone. Start asking these questions to yourself and in case you need help ask your good friends or parents and get honest answers. The key factor here is honesty

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Dr Thomas Nechupadom heads Metanoeo, a total transformation/ grooming company that has been the by word for grooming and dressing, personality enhancement and Social/Corporate Etiquette for many pageants including Ms.South India and Mannapuram Ms. Queen of India contest 2012.

If you've heard the old adage, "nothing ventured, nothing gained," that's exactly what its saying.

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Do you have the leadership qualities?

Are you self motivated?

There is a perennial question about whether leaders are born or made. Different people will have different opinion about this. “A leader earns the trust and respect of his team by demonstrating positive work qualities and confidence, then fostering an environment that proliferates these values through the team. A leader who nobody will follow is not a leader of anything at all.� Be sure that there will be a lot of situations where you will have show to your leadership qualities. Once you fail in this it will be difficult to overcome the situation.

Entrepreneurship is a tiring job in the beginning. There will not be any reason to get motivated but at the same time there will a lot of reasons to get demotivated. Entrepreneurs are very passionate about their ideas and they move toward these ultimate goals and are notoriously difficult to steer off the course. Initially there will only distractions you will have show some extraordinary grit and courage to stay motivated.


“A leader earns the trust and respect of his team by demonstrating positive work qualities and confidence, then fostering an environment that proliferates these values through the team. A leader who nobody will follow is not a leader of anything at all.” Do you have a strong sense of integrity?

Do you have the Competitive spirit?

Every business may have its ups and down. But often it happens that people tend to lose their integrity when you have a down side. Survival is important, but for an entrepreneur integrity is more important because it’s the integrity that will take him to the heights he envisioned.

Once you enter the market, you will know that it’s fiercely competitive. You will have to compete with your direct competitors, indirect competitors, peers and ultimately compete with you move forward. If you don’t have that unflinching fighting spirit to compete, things will be very difficult for you.

Do you have the willingness to fail?

If any one of your answer is a no, please think thrice before you become an entrepreneur. One you have found out the answers and you have decided to become an entrepreneur you should learn to enjoy your work for your vision.

If you've heard the old adage, "nothing ventured, nothing gained," that's exactly what its saying. Do not be afraid to fail, put it out there and give it your best shot. Successful entrepreneur are not afraid of failures. They will not ask what if I fail. They know that failures are stepping stones to success. But if you don’t have the courage to fail, you are not fit to be an entrepreneur.

If any one of your answer is a no, please think thrice before you become an entrepreneur. One you have found out the answers and you have decided to become an entrepreneur you should learn to enjoy your work for your vision. You will also have to take the work very seriously and plan everything; you will have to manage your money wisely and don’t forget to invest in yourself. After you have decided to become an entrepreneur, the customer is one of the most important people in your life. Always remember to promote yourself and project a positive business image. Get technology to help you in business and build a good team. Be accessible for customers and become an expert and get to be known as one. Master the business presentation and negotiation process and you will become a successful entrepreneur.

December 2013 UNIQUE TIMES 29


Interview

Merging

Business with Philanthropy Interview with C K Menon, Chairman and Managing Director, Behzad Corporation

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C

A deeply spiritual man, he humbly dedicates all his achievements to God Almighty. He firmly attributes his success to untiring hard work, high degree of honesty and deep dedication.

heril Krishna Menon, affectionately called C K Menon is a living legend. This extra ordinary businessman has overcome all odds in life to emerge as one of the leading business tycoons in the Middle-East. Hailing from Thrissur, a leading town of the state of Kerala in India, Menon chose to traverse a tough path which no ordinary person would have chosen. A deeply spiritual man, he humbly dedicates all his achievements to God Almighty. He firmly attributes his success to untiring hard work, high degree of honest y and deep dedication. His company Behzad Corporation is a transnational conglomerate based in Qatar with operations in Saudi Arabia, Sudan, UK, UAE, Kuwait and India. The corporation has a wide presence in an assortment of industries like commerce, logistics, oil, manufacturing, education and food. CK Menon is a dedicated philanthropist too. The scale of his efforts in philanthropy is unmatchable, cutting across all communal and religious barriers. It is

no wonder that he is being loved and respected by all. The Qatar Government bestowed upon him the coveted DICD Award in 2012 for his sincere efforts to support the Muslim community in Kerala. It is worthy of mention that C K Menon, a nonMuslim, funded the building of a Mosque, second only to Cheraman Perumal, the erstwhile ruler of Kodungallur. For his efforts towards the welfare of humanity, the Government of India has honoured him with the Pravasi Bharathiya Samman Award followed by Padma Shri Award. In a brief interview with Bejoy George, UT Associate Editor, when asked about his business and personal life, C.K.Menon replied “My father late Shri Narayanan Nair was a business man. We had a fleet of buses operating in and out of Thrissur. I had to take charge of the business at the young age of sixteen when my father passed away. While handling business I had to take care of my education too. After finishing my Pre-University Course, I went on to complete my B.A. In the meantime, the business was doing well until different labour unions

December 2013 UNIQUE TIMES 31


Though I was short of money to buy the business, the owner was good enough to offer me to pay in instalments. It took me 10 months to settle the entire payment and that was the beginning of Behzad Corporation. 32

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began to stage various problems. After taking my LLB degree, I handed over the ownership of the fleet to the employees themselves and thought of pursuing a legal career. In those days, as a beginner in law, I did not earn much. As soon as I got an opportunity to go to Qatar, I moved out of India. Initially I worked as supervisor in Pakistani Company where I got promoted as Accounts Manager. A law degree from India was of no use in Qatar. One needed an Arabic Law degree from Egypt to practice law in Qatar. Later I got Job in an ailing transport company which had a fleet of many buses and trucks. Almost half of the vehicles were lying idle due to minor problems. I realized that all men were engaged to operate all the vehicles. So I came up with an idea which suddenly occurred to me, a rather out the box idea. It was to take out the working parts of 50 odd vehicles to use in the other vehicles so that the rest 200 odd vehicles

would ply without any hassles. Once the vehicles were made fit for the road, my next job was to explore new business prospects. Unfortunately due to certain internal problems, I lost the job despite doing well. At that critical moment God favoured me with another opportunity. The owner of another ailing company had put up the company for sale. Though I was short of money to buy the business, the owner was good enough to offer me to pay in instalments. It took me 10 months to settle the entire payment and that was the beginning of Behzad Corporation.


"More than anything, one needs countless divine blessings and enormous trust of the community around him to be successful in any business" C.K. Menon

Education is a basic need, no matter how many schools and colleges we have, it is not enough. Also at the same time the quality of education is also important

You are the Chairman and Managing Director Behzad Group of Companies. Tell us more about the main and subsidiary companies? Which all countries do you operate in?

unit in Qatar. We have a massive steel manufacturing plant in Sudan and hot dip galvanizing plant in India. It is one of the largest factories in South India

Yes, First of all I would like to say that Behzad Corporation is a zero-debt company. We are present in different verticals including Transportation that includes bunkering and logistics.

Among your different ventures, there is a public school. What was the motivation behind starting a school in Qatar?

We are also present in trading. The group's flagship company, ALI BIN NASER AL MISNAD TRANSPORT & TRADING, is one of the leading transporting solutions providers in the State of Qatar. We have a School, The Bhavans School present in two locations in Qatar. We have one of the biggest bakery manufacturing

Education is a basic need, no matter how many schools and colleges we have, it is not enough. Also at the same time the quality of education is also important. Bhavan's Public School imparts quality education to the children of the Indian expatriate community in Qatar.

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What was the turning point in your life? Probably the one major turning point was my experience with the transportation company I joined just after the Pakistani Company. I got to turn around the company, even though I lost my job, it paved the path to my future success. What is your vision for your company? My vision is to give maximum employment to people. Currently I employ more than 4000 people, and many of them are from India, Nepal and Sri Lanka. The vision of our group is to be always recognized as an innovative and creative venture taking part and contributing its expertise and knowledge to the major projects leading to the country's overall infrastructural development. What is your leadership style? I am a democratic leader; I get to know my people. There are people who are working with me for the last 35 years. I give them every opportunity to grow and succeed. You have built a mosque in Kannur? What was the motivation behind that? It’s in a place called Mokeri in Kannur District. I heard that people in that place didn’t have a place in mosque to do their prayers. So when they approached me, I didn’t think much. But God was so kind that I got a lot of appreciation for that. In fact the Government of Qatar honoured with widely acclaimed Doha International Centre for Inter-faith Dialogue (DICID) with a special award, plaque and citation. I was the first Asian resident in Qatar to be honoured with the recognition. The mosque was dedicated to the faithful by Indian Union Muslim League

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(IUML) leader Panakad Syed Hyder Ali Shihab Thangal at a function chaired by Kerala Chief Minister Oommen Chandy. Is Kerala not conducive for business? Kerala has emerged but not quite, still we have teething problems related to infrastructure, labour issues and delays. But if there is a challenge, there is an opportunity, and so many people have overcome these challenges. We have example of that right in front of us. What is your advice for entrepreneurs? Four key factors; Honesty, dedication, sincerity and hard work, if you can channel it to one direction you can be successful. About your family? My wife is Jayasree Krishna Menon. She has supported me all the way along. I am blessed with two daughters and a son. The eldest is Anjana Anand, she is married to Dr. Anand and they are settled in Doha. My second daughter is Sreeranjini Ritesh, married to Dr. Ritesh and they are settled in UK. J K Menon is my son and he has completed his BE, he is the Vice-Chairman of the group.

As we end the short talk, C K Menon stands up to thank everybody. His short visit to Kochi is in the middle of his busy schedule. He occupies several positions as part of his Social commitment. He has been recently nominated as the Vice Chairman of Norka Roots. He is in the Director Board of Inkel, Jaihind Televsion. He is a member of the Board of Trustees of IDF. These are some of the few of positions he holds in the social arena. He is the Global President of Overseas Indian Cultural Congress (OICC) the expatriate arm of Indian National Congress. Having CK Menon featured in Unique Times is a matter of great pride for our team.


Gadgets

Kobo Arc E-Reader maker has released the latest of Kobo’s Android tablet known as Kobo Arc being sold at Rs. 11,999. It has a display of 7 in, with a resolution of 1280 x 800 pixels and 1.3 MP front facing camera. It runs on Android 4.1 Jelly Bean OS. It is run by a quad core 1.5 GHz Texas Instruments OMAP 4470 processor, coupled with a 1GB Ram. It has 16 GB of in built storage and no expandable storage. 3G net is not available, only Wi-Fi is enabled

Micromax Canvas Tab P650 The Micromax Canvas tab which is priced at Rs.16,500 has an 8 in display, with a resolution of 1024 x 768 pixels, 2 MP front facing camera. The tab runs on Android 4.2.1 Jelly Bean OS allowing users to use certain application actions when the device is locked. It is powered by a quad-core 1.2 GHz MediaTek 8389 processor. It has 16 GB inbuilt storage and has an expandable storage up to 32 GB. It’s battery has up to 10 hours of talk time, 3G and Wi-Fi enabled.

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Samsung Galaxy Tab 3 211 The Samsung Tab which is being sold at

Rs. 17,650 has a 7 in display with a resolution of 1024 x 600 pixels with a 3 MP rear camera without flash and a 1.3 MP for front facing camera. The tab runs on Android 4.1.2 Jelly Bean OS and is powered by a 1.2 GHz dual-core processor. It has an inbuilt storage capacity of 8GB and has expandable storage of up to 64GB.

Kindle Fire HDX Using a modified version of Android and priced at Rs. 23,585, this tab has an 8.9 in screen and a screen resolution of 339 pixels per inch. With curved edges, it weighs 0.83 pounds and has a battery life of 12 hours. It can run few Android apps, but not all.

December 2013 UNIQUE TIMES 37


Gadgets

Lenovo Yoga Tablet 8 Priced at Rs. 22,999, it has an 8 in display, with a 1280 x 800 resolution with a 1.6 MP front facing camera, a 5 MP auto focus rear camera. It is powered by a 1.2 GHz MediaTek MT8389 Cortex-A7 processor with an Android 4.2.2 Jelly Bean OS. It has a 16 GB inbuilt storage and has expandable storage up to 64 GB. This tab has a battery life lasting up to 18 hours.

Micromax Canvas Turbo Priced at Rs.19,990, the Micromax Canvas Turbo has a 5 in full HD display with a 1080 x 1920 pixels resolution. It has a 13 MP rear camera and a 5 MP front facing camera. Powered by 1.5 GHz MediaTek MT6589T quad-core processor, it runs on Android 4.2.1 Jelly Bean OS and has an inbuilt storage capacity of 16GB.

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Videocon VT85C Priced by Rs. 8,999, the Videocon VT85C tab has a 7 in display with a 1024 x 600 pixels. It is powered by a 1.2 GHz dual core Cortex A9 processor and runs on Android 4.2 Jelly Bean OS. With Wi-Fi enabled, it has a 5 MP rear camera and a VGA front facing camera, and comes with a 4GB inbuilt storage capacity which is expandable up to 32 GB.

ZTE Blade G2 Priced at Rs.11,599 the Blade G2 has a 4.5 in display with a resolution of 480 x 854 pixels with a 5 MP camera and a 0.3 MP front facing camera. With Wi=Fi enabled the Blade G2 runs on Android 4.2.1 Jelly Bean and is powered by a 1.2 GHz quadcore MediaTek MTK6589 processor. It has an inbuilt storage of 4 GB, however only 1.93 GB can be used by the user, and there is expandable storage of up 32GB.

December 2013 UNIQUE TIMES 39


Gadgets

HTC Desire 500 Priced by Rs. 21,490 the Desire 500 features a 4.3 in display, the phone is very compact and has a resolution of 480 x 800 pixels. With dual SIM slots and a 8 MP rear camera, the phone is powered by a 1.2 GHz Qualcomm Snapdragon 200 quad-core processor and runs on Android 4.1.2 Jelly Bean OS. With Wi-Fi enabled, the Desire 500 has an inbuilt storage capacity of 4GB with 1GB being user accessible, and expandable storage up to 64GB. Battery life lasts up to 11-12 hours.

Gionee Elife E6 The Gionee Elife E6 which is being sold at Rs. 22,999 has a 5 in full HD display with a resolution of 1080 x 1920 pixels with Gorilla Glass 3 layer for protection. The E6 runs on Android 4.2.1 Jelly Bean OS and is powered by a 1.5 GHz Mediatek MT 6589T quad-core processor. It has a 13 MP auto focus camera with a Sony Exmor R sensor and can also record HD videos. The E6 has an inbuilt storage capacity of 32GB which is not expandable.

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HTC One Mini Priced at Rs.36,790, the One mini has a 4.3 in Super LCD 2 display with a resolution of 720 x 1280 pixels. The display comes with Corning Gorilla Glass 3 to protect the screen, and has a 4 MP rear camera and a 1.6 megapixel front facing camera. One mini runs on Android 4.2.2 Jelly Bean OS and is powered by a 1.4 GHz dual-core Qualcomm Snapdragon 400 processor with Adreno 305 for graphics processing. It has a 16GB of inbuilt storage capacity and does not have expandable storage.

LG G2 Available at the price of Rs. 41,500 in black and white colours, the LG G2 has a 5.2 inch display has no buttons on the phone or on the sides of the phone. It has a 2.1 megapixel front facing camera, 13 MP camera lens, Wi-Fi enabled, two speaker grills and a micro usb port. The display has Corning’s Gorilla Glass 3 protection which helps to make the screen prone to scratches. It runs on Android 4.2.2 Jelly Bean OS. It is powered by 2.26 GHz Qualcomm Snapdragon 800 quad-core processor with a 32GB of built in storage. There is no expandable storage.

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Gadgets

Rs.1950/-

Casio Personal Model KL- 60 Label Printer Printer Type: Label Printer Display: LCD 5 x 7 dots Cursor (4 digits x 1 line) Model Series: Personal Model Functions: Print Power Supply: 6 x AA Size Alkaline (LR6) Batteries (Sold Separately), Auto Power Off

Dymo Label Manager 420 P Label Printer Thermal Transfer Printer Printing Method: Thermal Transfer Type: Label Printer Display: Large Back-lit Display 4 Lines Printing Output: Black Functions: Print Powered by a Rechargeable Lithium-ion Battery, No more Disposable AA Battery Expense and Inconvenience

Rs.11,990/-

Bosch Cordless Electronic Screwdriver (Blue)

Rs.3200/-

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Automatic Screwdriver 14 Tools Magnetic Bit Extension Rechargeable • Forward and Reverse Battery Indicator • 14 Tools • 3 Functions • 11 Bits Automatic Screwdriver • Ideal for Household Applications • Forward, Reverse and Lock Position • Magnetic Bit Extension


Beauty Tips

WORRY-FREE TRAVELLING 44

UNIQUE TIMES December 2013


If you feel your skin getting irritated, do not keep touching that area of your face it will only further irritate it. The avoidance of your hands on your face is because of the bacteria which you can pick up on your travel, you don’t want that on your face. Tressa Varghese, Director, Phoebe International

Travel Light Whether you’re traveling from one state to another from one country to another, the minor changes in the climate can be harsh on the skin and hair. So to make traveling easier here are a few tips. Firstly the deal is when you traveling you always want to travel light to make it easier on yourself, so avoid carrying all that foundation, blush, and lip gloss with you and if you just can’t go on without the makeup products carry the mini versions of it to travel light.

Moisturize your Skin Carry a moisturizing cream with you, rather than a lotion it is better to use a good moisturizing cream to keep your skin hydrated at all times. Before traveling on the plane just make certain to apply the moisturizing cream the night to help your skin better deal with the dehydrating conditions inside the plane. Another thing that can be dreadful is oily skin. For those of you with oily skin keeps a pack of oil-free cleansing wipes on hand in order to dab the excess oil off your skin so that you can look fresh.

Care for your Skin and Lips When it comes to keeping a long last color on your lips, instead of using long lasting lip sticks which will dehydrate your lips, apply a few coats

of lip stains, topped with a clear gloss after it dries up. Otherwise stick to a medicated lip balm to keep your lips moisturized, if you forgot your lip balm here’s a trick, ask one of the flight attendants for a packet of butter and apply a bit of butter to your lips to keep it moist. It is highly recommended that you should also keep your hands strictly off your face which means stop touching it now and then. If you feel your skin getting irritated, do not keep touching that area of your face it will only further irritate it. The avoidance of your hands on your face is because of the bacteria which you can pick up on your travel, you don’t want that on your face. To keep your hands always clean though, a useful item would be hand sanitizer. So before you put on your lip balm, or your make up, just clean your hands with the sanitizer and particularly if you want to apply makeup keep an antibacterial hand gel.

Nails and Hair Avoid using bright nail polish when you are traveling because when your nail polish chips, it will make your fingers look well not so neat. So instead of brightly colored nail polish use nude nail polish, or a color that is similar to your skin color. Something that can always stress you out would be the hair. Never perfect. So when you’re traveling you can only imagine how your hair will end up looking

either lifeless or like you just stepped out of a clown show if you’re traveling to a place where there is extreme humidity. Always keep a small hairbrush in your purse, and a beret or cloche hate in order to hide the bad hair. It would also be wise to keep a dry shampoo which you can spray on as soon as you arrive at your destined location in order to clean and add volume to your hair.

Get enough rest Make sure that you get your beauty rest during your travel. Keep a night cream at hand which you can apply under your eyes before going to sleep and cover your eyes with a sleep mask and close your eyes into sweet dreams so that when you wake up you can look fresh and relaxed. Don’t forget to take your cleanser when you are traveling because you do not want to switch cleansers if you have forgotten your usual ones and face a breakout thus throwing you’re the state of your skin off balance. Always keep a hand cream in your handbag so that you can keep your hands from drying out after washing them as well as avoid the effects of the soaps found in the restrooms. You know when you are traveling on a very long flight that lasts nearly a day, the best thing to do is a keep an extra outfit with you in your carry on, and instead of spraying those perfumes in flight, spray it on your outfit ahead of time and iron and fold neatly and keep it.

December 2013 UNIQUE TIMES 45


Business

IT Professionals turning entrepreneurs taking FRANCHISING

AS A ROUTE TO SUCCESS

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About the Author: The author Chackochen Mathai is a Ph.D Scholar in Franchise Management with over 23 + years of experience in the field of franchising a writer and a speaker in many franchising events in India.

T The idea of starting the business is to have some permanent income to lean on if they lose a job. Some feel since there is not time for the family and kids they want their wife’s to take care of the business and the family, so that they can spend time together more

he last decade of the 20th century saw phenomenal growth in technology. Besides LPG (liberalisation, privatisation and globalisation) made the country rapid progress in IT and IT earned the name for India in the world. No doubt, IT has changed the lives of many Indian but it has done more harm than good. The working of the IT sector has thrown out of the gear the traditional office timings of 10-5 or 9-6. Days are longer and the employees are suffering from stress and over work. People have become slaves to machines and this is taking a heavy toll on their health. The tolerance level is at an all time low and the hire and fire policy is common in all offices. Many couples are childless and divorce rates are raising because of lack of time spent with partners. Hence couples who are working in the IT now want to quit and start their own business as they understand process. They have experience and knowledge in running organisations which is becoming easy for the franchisor to consider giving the IT professionals a franchised business. For an IT professional taking loan is not an issue, since he is already gone through a phase where he has taken few loans and have been paying the

EMI’s. Couples decide to take loans for the business and they are ready to work hard to repay them. The idea of starting the business is to have some permanent income to lean on if they lose a job. Some feel since there is not time for the family and kids they want their wife’s to take care of the business and the family, so that they can spend time together more. Any investment requires 2 years to get back their investments and then make profits. This helps them to have a balanced life. However getting in to the right business is important. They check the latest trends and understand their passion for business some are interested in education, beauty salon, food business, fashion etc.. Since liberation, the Indian economy has witnessed steady evolution. Consumerism has risen on account of a growing young population, high disposable income and growing urbanization. Retail and service sectors are expected to play a major role in this consumption boom. Agriculture is not longer the chief contributor to the Indian economy. The country is gradually moving towards being a manufacturing and serviced-based economy in last two decades. This growth has given impetus to a huge entrepreneurial appetite. Over the last decade,

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because of the demography, language cultural background and socioeconomic diversity. This becomes a challenge for an international franchisor to understand all the diversified tasted and preferences, to establish and expand business in India. The same way some of our successful Indian brands/companies have entered the foreign markets, some of them are Saravana Bhavan, Khan Khazana, Sankalp, Cafe Coffee Day, Malabar Gold, Gitanjali, Shahnaz Husian, VLCC, Kavy, Eurokids, Shemrock, NIIT, APECTCH, CADD CENTER are some of the brands that have successfully ventured in to other regions in the world. There are few handicraft business and sari business and ethnic wear brands too have entered few markets. There is

Global brands such as Domino’s, KFC, McDonald, Baskin Robbins, Starbucks, Jockey International, Hanes, TGIF, Maple Bear etc., like other foreign countries India is not “one market” the market is fragments because of the demography, language cultural background and socio-economic diversity. franchising has surfaced as the most prolific and feasible ways of expanding business in India. Several industry verticals such as food and beverage, education, fashion, tourism, Hair, Beauty, Saloon, Spa, Courier, Travel, Apparel Furniture, IT training, Cafe, Bar, Fitness, Health & Wellness, Tourism, Hospitality, Jewellery, Food & Grocery, Consumer Durables, Telecom, Gaming, Media, Entertainment Agriculture, RealEstate, Home cleaning, Tank Cleaning, Laundry services, Floral Decorations, Shoes, Ice-Cream parlours, Books, Chocolates, Abacus training, Donut Houses, Sports Items and so on and so forth.

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Franchising, through as a concept is western, is not limited to the developed countries alone. It has spread its mark to developing countries Brazil, China, Nigeria and India are attracting a lot of attention in the franchising space because of the huge consumer class.

According to KPMG in India estimates, the franchising industry is expected to quadruple from 2012 – 2017. Franchising industry will contribute to almost 4% India’s GDP in 2017. This will create job opportunities both direct and indirect for an additional 11 million people by 2017. The growth would be fuelled by rising income and expenditure levels of the young population along with the recent FDI policy changes, economy and socio-cultural developments. Many international brands have already set shop in India and are adopting the franchise route or having a JV with Indian companies to bring their brand to India. Global brands such as Domino’s, KFC, McDonald, Baskin Robbins, Starbucks, Jockey International, Hanes, TGIF, Maple Bear etc., like other foreign countries India is not “one market” the market is fragments

immense potential for Indian brands to go global and take advantage of Indian Diaspora present across the world and use this opportunity to spread Brand India. Franchising, through as a concept is western, is not limited to the developed countries alone. It has spread its mark to developing countries Brazil, China, Nigeria and India are attracting a lot of attention in the franchising space because of the huge consumer class. India, with its large population has always been a consumption country and will always remain for years to come. The appetite for consumption is considered as the biggest growth driver. Franchising as a business model has achieved stability over the course of time, given new entrepreneurs increased confidence on the success of their ventures. These available investments and increased investment capability have


also been a key factor driving the growth of the industry, especially when investment support from franchisor is minimal. Businessmen or new entrepreneurs predominantly choose franchising route as it helps increase the scale of operations while reducing the time to market. This also aids in brand building process through value creation. Because of the concept of franchising there is absolutely uniformity or product or service offering by organisations thereby leading to increased quality and standards that are being followed to give the same experience to the consumers across all the stores? The fact is that taking a franchisee of a particular brand is for the uniqueness of the concept and value of the brand that the franchisor has created. The franchisor promises return on investments (ROI) for the investments being made by the franchisee attracts entrepreneurs to take up franchising as a business option. Franchisors look for people who can understand the process and can operate the business by quick decision making abilities. Franchisors look for people who can learn quickly and implement the learning to lead a team of professionals. There are different formats of

business models in franchising business. Most of the franchisors adopt the Franchisee Owned and Franchisee Operated Model (FoFo), the other models are Company Owned – Franchise Operated (CoFo), Franchise Owned – Company Operated (FoCo), Company Owned – Company Operated (CoCo) and Joint Venture models. There are many reasons for people considering franchising route. The first one being franchising is a safe, best and easiest way to start a business, higher profitability and better ROI, lesser risk than a new start up, higher growth and expansion friendly. Key challenges faced in franchising are both the franchisor and franchisee are faced with challenges before and during the operations.

The retail space rentals are very high and it is impacting the ROI, collecting the royalty on time from the franchisee is a serious concern for the franchisor and this is because of the failing profits. Today Government of India is helping entrepreneurs with good ideas to start up a new venture by providing loan though the MSME scheme. Please visit the MSME site for more details. Today MSME not only provides loan but they also provide training for different needs. The training programs are done very systematically. They provide adequate support in helping to do all the required paper work to make it easy for the entrepreneur to start the work with ease as one point window system. MSME, has evolved into preferred facilitation destination for both potential and existing Entrepreneurs by means of synergised initiatives in a PublicPrivate Partnership mode (PPP). The example of 108 emergency ambulance services is a classical example of PPP. The vision is expected to enhance the competitiveness of the existing enterprises, contribute towards sustainably establishing more number of potential enterprises, accelerate the employment generation, contribute towards economic growth and provide highly skilled Man Power to industries. There are many schemes released by Government of India to help entrepreneurs to succeed. Guidelines of the Scheme for International Cooperation

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Guidelines of the Scheme for International Cooperation Guidelines for Market Development Assistance on Production Scheme • Guidelines of Scheme for Assistance to Training Institutions • Scheme of Surveys, Studies and Policy Research • Scheme of Surveys, Studies and Policy Research - List of Agencies as on 26.08.2010 • Surveys/Studies conducted under the Surveys, Studies and Policy Research Scheme • Scheme of Fund for Regeneration of Traditional Industries (SFURTI) • Rajiv Gandhi Udyami Mitra Yojana (RGUMY)

Implemented through NSIC • Marketing Assistance Scheme • Performance and Credit Rating Scheme Implemented directly by Ministry • Scheme of Surveys, Studies and Policy Research • Guidelines of Scheme for Assistance to Training Institutions • Scheme of Fund for Regeneration of Traditional Industries (SFURTI) • Rajiv Gandhi Udyami Mitra Yojana (RGUMY)

Implemented through NSIC • Marketing Assistance Scheme • Performance and Credit Rating Scheme

Implemented through KVIC • Guidelines of the Market Development Assistance (MDA) on Production Scheme • Prime Minister's Employment Generation Programme (PMEGP) • Product Development, Design Intervention and Packaging (PRODIP) • Khadi Karigar Janashree Bima Yojana for Khadi Artisans • Interest Subsidy Eligibility Certification (ISEC) • Scheme for Enhancing Productivity and Competitiveness of Khadi Industry and Artisans • Workshed Scheme for Khadi Artisans

Implemented through Coir Board • Rejuvenation, Modernization and Technology Upgradation of the Coir Industry. These are various schemes that are available for new entrepreneurs through Governmental Schemes and if they have the credentials with a good educational background these loans can be secured.

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Travel

Denisha Sahadevan

The Beauty & Dazzle of

New York

CITY in

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t’s again time for the holidays, and with the Christmas bells chiming and kids dreaming about Santa Claus and presents under the Christmas tree, the one place that you should not miss heading to is New York, New York, New York! Christmas, come New Year’s, or even anytime of the year, there’s no place in the world which can beat the energy which the city of New York bring about. Day or night, New York City will give you memories to last for years on. With its tall skyscrapers and night lights, New York City is the place where you can have a nice time whether it is with your family or your friends. When you’re in New York City, your “to see” and “to do” list will be a never ending one. And the one thing that you just cannot miss out on when you are in New York City is of course, making a visit to Times Square, and Broadway where you can get tickets to see the famous play “The Nutcracker.” The city with a population of over 8.3 million people according to the census of 2012 (so you can imagine the increment which it probably has

made in the year of 2013), makes it so that as if you are in another world, as you take a stroll down the street. New York City is split into five different parts known as counties which are Manhattan, Queens, Brooklyn, The Bronx, and Staten Island. It is probably the one city where as numerous as 800 languages are spoken. With a collision of various cultures just in one place you will not be surprised to see people dressed differently or even in the usually styles or in their own special styles. The one place where you can express yourself through your dressing even in the way you talk, New York City is the one place where you can simply be yourself. Growing up, I remember my summer trips to New York City, and still I carry the memories of staying up late with my sister and having Chinese food late at night and watching the horror movie Scream. During Christmas time, you cannot miss visiting the ice skating rinks especially the rink at Rockefeller Center and going to see the Christmas tree all lit up. It is a sight which will take your breath

Christmas bells chiming and kids dreaming about Santa Claus and presents under the Christmas tree, the one place that you should not miss heading to is New York, New York, New York! Christmas, come New Year’s, or even anytime of the year, there’s no place in the world which can beat the energy which the city of New York

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Do make sure you go for a skate at the rink in Central Park with your friends and family, you’ll have your noses nipped red, but you’ll be full of laughter and smiles. If you do happen to be visiting New York City during the spring or summer season, make sure to not miss out on taking a morning or evening stroll through Central Park.

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away. For each night you will have something to do. And during your days, you will have much shopping which you will be very eager to do and surely cannot get enough off. During your holiday shopping you will be able to find discounts on many items, just visit Bryant Park, 6th Ave, at 42nd Street. Now if your into arts and crafts and love your sweets and ciders, you should put it on your list to stop by Union Square Park holiday market located at 14th Street. To get gifts in Central Park visit the Columbus Circle Holiday Fair, which is organized by the same people who organize the Union Square Holiday Market. You can find the Columbus Circle Holiday Fair at the Southwest

The magic behind New York City, is when you open up your mind and you take a look around and see the people around you. You won’t feel like you are simply in any city, You will feel the effect of New York City, and will find many artists, actors, actresses, walking alongside the business men whom you find working in Wall Street. The site of the Empire State Building will surely put you at an awe, and visiting the various restaurants, seeing The Lion King, or The Phantom of The Opera live on Broadway, and going to Radio City will dazzle you, but if you take a stroll down the sidewalks, the best thing to do is to live a life in the day of a New Yorker. Many will say New Yorker’s

entrance to Central Park at Central Park West and Central Park South. ‘When you are in central park, do make sure you go for a skate at the rink in Central Park with your friends and family, you’ll have your noses nipped red, but you’ll be full of laughter and smiles. If you do happen to be visiting New York City during the spring or summer season, make sure to not miss out on taking a morning or evening stroll through Central Park. And of course there is the Statue of Liberty which you must see. New York City has it’s hot spots which will surely go on your “must see” list. But there’s more to New York City than the usual tourist spots.

are rude…don’t believe it. New Yorker’s are just very straight forward, and speak their minds, and they are very friendly. So if you take a stroll down the sidewalks, put on your headphones and just simply listen to some good tunes, you can find the little hidden shopping centers, in the middle of the busy streets, and the tiny little bakery’s and restaurants where you can probably find the best bagel and cream cheese or even the best pizza. New York is known for its music scene as well. You will be able to find all kinds of music being played through the clubs, and if you are a Jazz lover you will find many Jazz clubs, where you can sit and enjoy


Waldorf Astoria on Park Avenue in Manhattan, The Park lane Hotel, The Hilton which is located in downtown Manhattan, The Marriott, the Crowne Plaza which is in Times Square and is only a 7 minute walk from Rockefeller Center and Radio City Music Hall, or the Hyatt which is only a 5 minute walk from the Empire State Building.

listening to Jazz musicians play into the night. Though I could simply give you a list of places to visit when you are in New York City, the fun of going to New York City is the exploring part. Forget that you are a tourist and go with the flow. If you want to travel anywhere, you can travel by bus or the subway. The subway gets you everywhere easier, but so does the bus. Taxis are a bit on the expensive side, and it’s better to not rent a car, because you will find it difficult to find parking anywhere! So as you travel by subway or the bus, you will find it easy to navigate your way through the city. Don’t hesitate to ask for help from strangers, they will be very helpful in guiding you to find your way to

wherever it is you want to go. There is the part of your stay where you also would like to find a comfortable hotel to stay at. If you really want to go all out you should probably go for The Ritz. There is also the Waldorf Astoria on Park Avenue in Manhattan, The Park lane Hotel, The Hilton which is located in downtown Manhattan, The Marriott, the Crowne Plaza which is in Times Square and is only a 7 minute walk from Rockefeller Center and Radio City Music Hall, or the Hyatt which is only a 5 minute walk from the Empire State Building. Once you find a comfortable place to stay, you can carry on with your shopping. When you do walk down the streets, you

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When you are in New York City towards the end of December don’t miss out on the New Year’s parties! The best memory you can have is watching the ball drop in the extremely over crowded Times Square as you go into the New Year with the rest of the world.

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don’t want to miss out on the big pretzel’s with mustard sauce and the hot dogs of course! There’s something very delightful in eating a hot dog, or a big warm pretzel with mustard sauce as you walk along the park. If you find it a bit chilly outside, you can step into a coffee shop like good old Starbucks and order up a cup of hot chocolate or a grande cappuccino. You can either sit there itself for hours on with your friends or family as you listen to the music being played, and have a nice conversation or if your alone, make sure to carry a good book with you to keep you company as you can enjoy a nice read while you sip your hot chocolate or coffee. If you are going out for dinner, you don’t need to browse so much as you will find restaurants everywhere almost, and you have your various options of Italian, Thai, Indian, Indian-Chinese,

Chinese food, Vietnamese, or a Sushi place where you can find the best sushi’s to chow down on. When you are in New York City and you want to see the best of New York, all you have to do is just chuck the tour guide and get ready for your own adventures which will bring you ever lasting memories. When you are in New York City towards the end of December don’t miss out on the New Year’s parties! The best memory you can have is watching the ball drop in the extremely over crowded Times Square as you go into the New Year with the rest of the world. In New York City, you will find a lively energy which you cannot shed off even after leaving it. It will only keep you coming back to the city for more. The people, the night lights, the central park, the coffee shops, Macy’s, and walking down Manhattan will make you wish you could stay in New York


Books

Sometimes You Win Sometimes You Learn Life’s Greatest Lessons Are Gained from Our Losses by John C. Maxwell

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r. Maxwell who has had fifty years of leadership experience writes about how to win despite the obstacles by discussing the eleven elements which makes up the DNA of learners who tend to find success despite the problems, failure and losses. John Maxwell talks about how sometimes experience isn’t the best teacher, however when you evaluate a certain experience it can be easier. With discipline one can learn to make right choices. Through this book one can learn how to win in many aspects through evaluation of certain situations.

Focus Focus: The Hidden Driver of Excellence by Daniel Goleman

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hen it comes achieving something the main element is attention, which is what psychologist and journalist Daniel Goleman talks about in his new book. In this book he discusses the science of attention in its many forms and how giving attention to certain things matters more about how an individual goes on about in life. Daniel Goleman points out how it is necessary that we focus in order to contend and thrive in the world today.

Creative Confidence Unleashing the Creative Potential Within Us All by Tom Kelley and David Kelley

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he IDEO found David Kelley and his brother Tom Kelley, the IDEO partner write a book on how to key in on the creativity within each of us as creativity and innovation is what will help us in our lives as well as our careers. Through this book, David and Tom Kelley tell many inspiring, and entertaining stories from their work through which they identify the principles and strategies which allows us to find a creative way on how to face and solve certain problems.

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Getting to It Accomplishing the Important, Handling the Urgent, and Removing the Unnecessary by Jones Loflin

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n life there are many priorities which we need to sort through, however we tend to lose a sense of focus at times, so we need to figure out as to which one is the most important priority. Once we learn to prioritize the most important things in our life we will learn to narrow in on our goal by setting a certain plan in order to achieve the goal. In this book, one will learn how to achieve the important things in life by using the right tools.

The Good Struggle Responsible Leadership in an Unforgiving World by Joseph L. Badaracco Jr.

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eing a leader isn’t the easiest thing in the world. And how to lead in a successful manner all the while handling the responsibilities which come along with the stressful environment is something which each leader will struggle to learn and carry through effectively. In this book, Harvard Business School Professor Joseph Badaracco writes about how in order to lead successfully one must understand the importance of struggle which will help them to meet their goals at work and in life.

Jeffrey Gitomer’s 21.5 Unbreakable Laws of Selling Universal Truths for Making Sales Easier, Faster, and Bigger Now and Forever! By Jeffrey Gitomer

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here are certain laws which are universal which will determine as to whether you will succeed or fail. Jeffrey Gitomer has 21.5 laws of selling which are six points to be noted down. These laws happen to be the foundation of selling which are “invisible but undeniable and unbreakable.” Learning how to sell anything, whether it is a pitch to your client, a product to consumers, these are the laws which will help you carry out a sale successfully.

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Books

The 80/20 Manager The Secret to Working less and Achieving More by Richard Koch

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ere’s a principle which you can use to achieve a “beyond your own expectation” result at work without taking on the stress or the long hours, it is called the 80/20 principle. Richard Koch writes about how the idea in work is where the 80 percent of the results come from and 20 percent of the results come from the effort put into carrying out that particular idea which will help us to achieve success in work as well as in our personal lives.

The Five Dysfunctions of a Team A Leadership Fable by Patrick Lencioni

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eamwork is something which takes effort, and it is not easy for everyone to carry out teamwork without getting into a tussle with one of the team members now and then. Teamwork takes corporation, and in this book Lencioni focuses on the problems and the conflicts which a team faces as they try to get to their set goals. Through narrative stories Lencioni provides examples as to how to work as a team successfully.

Drive The Surprising Truth about What Motivates Us by Daniel H. Pink

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n life we have many things which motivate us, whether it be philosophies, stories, certain personalities etc. In this book Daniel H. Pink talks about science and business. The difference between what is known by science and what is done by business, and how it affects our lives as he discusses how to achieve goals successfully in today’s world. Through this book Pink reveals as to how the secret to high performance and satisfaction in today’s world is “a need to direct our own lives.”

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Auto Review

The Fast & The Frugal

The VW Polo GT TDI The Polo and the Vento are cars which bring in the numbers for Volkswagen India. Volkswagen has been bringing in different variants into the market, especially for the Polo. We have reviewed the Polo GT TSI in our May edition. Now the German auto giant has given India, the diesel GT.

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The Polo being a much lighter car than the Vento, the output is amazing, and just as you cross the 2000 rpm mark, the car takes off. This engine has got a broad spread of torque unlike the Polo diesel which has a 3 cylinder engine

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f you have seen the GT TSI, there is no much change in the looks for the TDI. The new avatar has the same design. There are no Polo badges in the back; clearly VW makes the GT edition different from the regular Polo Versions. The alloy wheels which are twin-five spoke and the overall design are the same to the TSI version. The same smoked headlamps and the rear spoiler are carried over to the TDI version. One thing disappointing about the looks is that Even the interior styling is the same, the same sporty seats, with the dual tone fabric. Coming to the driver side you have the same twin-dial instrument cluster with a multi-spoke steering wheel. For entertainment you have in dash music system, with auxiliary, USB and Bluetooth connectivity. VW is always known for the high quality of its products. The

interiors are of high quality and the car is fully equipped. The car comes with dual airbags for your safety. The seats are very comfortable. The thigh and side support is great even for the back seats. The rear seat feels a little cramped for knee room. The 1.6 Litre, 4 cylinder diesel motor pumps out a maximum of 105bhp and 25.4 kgm torques, the same engine is on duty in the Vento. The Polo being a much lighter car than the Vento, the output is amazing, and just as you cross the 2000 rpm mark, the car takes off. This engine has got a broad spread of torque unlike the Polo diesel which has a 3 cylinder engine. The engine keeps pulling even till the 5000 rpm mark. It makes the GT, great fun to ride as the normal diesels which are common in India will run of steam around the 4000 rpm mark.


The interiors are of high quality and the car is fully equipped. The car comes with dual airbags for your safety. The seats are very comfortable. The thigh and side support is great even for the back seats.

The GT TDI is a well built car, the shell is strong, and the suspension is very good. Armed with a powerful engine, this car is the most powerful and fun to ride car in its segment

The downside of GT TDI is that it does not have the dual clutch automatic transmission; Volkswagen is offering the GT TDI only with a manual 5-speed gearbox. I don’t know VW has declined the GT TDI the seven speed dual clutch transmission and it might as well send back some prospective customers.

roll, around the corners, but in normal driving conditions you won’t even feel that. The steering wheel is light making it comfortable to drive in the city. But over potholes, the drive becomes a little hard. You may initially feel that the breaks are little light, but it has enough breaking power to bring to bring the hatch to stand still.

The upside is that the motor is so torque that you need not change gears quite often, but the clutch with a long travel will certainly be a problem in the bumper to bumper city traffic. The GT TDI is easy to handle is the much like all the VW cars the drive is highly refined. You may be tempted to opt for high speeds in the highway, given the amount of power and the torque this beauty has, the car inspires a lot of confidence. There is a slight body

The GT TDI is a well built car, the shell is strong, and the suspension is very good. Armed with a powerful engine, this car is the most powerful and fun to ride car in its segment. The nearest competition is the Hyundai i2O. Priced at Rs 8.08 lakh (ex-showroom, Delhi), the Polo GT TDI is about Rs 40,000 more than the diesel Hyundai i20. But you get a lot more of power and fun for the extra money you pay. Book a test drive and find it by yourself.

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