| Sri Chitragupta Welfare Samaj, which is an organisation of the Kayastha community, was established in the city several years ago. The organisation, which was registered in 2002, is also affiliated to the All-India Kayastha Mahasabha, Delhi. The samaj has branches in Kamothe, Kalamboli, Uran, Kharghar, CBD Belapur, Sanpada, Vashi and Koperkhairane. Now, the samaj has decided to bring all the smaller kayastha communities of the city under one association. This initiative — also known as 'Chitransh Ekta Manch' was formed with a seven-member committee. The committee consists of PN Srivastav, Navnit Jaipuria, Ketan Sinha, Rajan Kumar, Kumar Kanak Kishore, Ritesh Sinha and Srinandhan Sahai. They say they were finding it difficult to coordinate with smaller kayastha communities in the city and many times these smaller communities would end up not getting the kind of aid they deserved. PN Srivastav, the president of this newly-appointed committee, says that in the past they have been conducting many medical camps and health check ups for the welfare of the community members. "Apart from undertaking social activities, we also organise yearly programmes like Chitragupt Puja, Holi celebrations and regular picnics. We hope that through this new initiative of ours we are able to reach out to our community at large. The basic idea is to tie all our members in one thread." There are 500 kayastha families living in Navi Mumbai and the association is sure that this new initiative of theirs will surely help the various members belonging to the different kayastha families. Ritesh Sinha, a member of the community, says, "Many members of our community participated in this meet. We discussed various ways in which all community members can be in constant touch with each other." Apart from that, the Chitragupta Samaj Welfare Association also held a general body meeting at Yuva Centre in Kharghar on September 25 at which they appointed a new committee. At that meet, the outgoing president handed over charge to the new president. |
Friday, September 30, 2011
City Kayasthas organise ekta manch
New ICC rules to take effect on Oct 1 The following amendments were approved by the ICC executive board at its meeting in London in May
 | |
provided he has not completed his usual delivery swing, to
attempt to run out the non-striker. Whether the attempt is
successful or not, the ball shall not count. If the bowler fails
in an attempt to run out the non-striker, the umpire shall
call and signal dead ball as soon as possible.
A runner for a batsman
shall not be permitted in
any of the formats. Unless
nine wickets are down, the
injured or ill batsman has
the option of retiring hurt
and returning to bat at a
later stage should the need
or opportunity arise.
The total number of Powerplay
overs remain at 20 per innings
with the first block of 10
mandatory at the
commencement of the innings.
However the second and third
Powerplay overs may not be
taken earlier than the 16th over
nor be completed later than
the 40th over.
Two balls, instead of
one, will be used in
each innings of an
ODI match.
Calculation of the period for
which an injured or ill player
who has been absent from the
field shall not be permitted to
bowl or bat i.e. penalty time
(Tests, ODIs and T20Is)
On appeal from the fielding
team, if the umpire feels
that a batsman, whilst
running between the
wickets, has significantly
changed his direction
without probable cause
thereby obstructing a
fielder’s attempt to run him
out, the batsman should be
given out ‘obstructing the
field’. It shall not be
relevant whether a run
out would have been
affected or not. This is
applicable in all three
formats.
In making a decision in this
regard, the on-field umpires
are entitled to consult the
third umpire in deciding
whether the obstruction
was wilful or not with the
final decision being made
and conveyed by the
relevant on-field umpire.
In another change in Tests,
the playing conditions now
provide that if nine wickets
are down at the time of the
scheduled lunch interval,
the interval shall be delayed
by a maximum of 30
minutes as it is with tea
interval.
In Tests, the umpires may
now decide to play 15
minutes (a minimum of four
overs) extra time at the
scheduled lunch or tea
interval of any day if
requested by either captain
if, in the umpires’ opinion, it
would bring about a definite
result in that session. If the
umpires do not believe a
result can be achieved no
extra time shall be allowed.
The minimum interval for
an uninterrupted ODI
match has been
increased from 20
minutes to 30 minutes.
Have you picked the right policy to cover your business risk?
In business risk is inevitable. Fire, lightening, explosion or implosion, riots and terrorism damages can cause losses to your business, making it unavoidably to take a cover against these perils. Apart from this, it is necessary to check whether the policy you have taken gives you maximum protection. Especially, companies with complicated business models and dealing with expensive items on a daily basis should be adequately covered against the unforeseen contingencies. What should you look at before taking a cover against business risk?
While taking a policy, make sure the amount from the policy will be sufficient to re-establishment your business in case of total damage. Insure major risks above the market price and see that it is included in the policy document.
There are various types of policies available in the market depending on the needs of the customers including policies which cover operational, property risks, liability and third party risks.
Cover for operational and property risks
Protection against fire: Insurance companies offer protection against fire and related issues in a business. Damages caused by natural calamities like lightening, flood and forest fire are included in the fire-related cover. The protection ensured by each policy can vary on the nature of business. Fire and special peril cover have an inbuilt STFI cover (storm, tempest, flood, and inundation). An industrial all risk policy covers all the standard risks including earthquake and comes with benefits of a standard fire policy. Contractor's all risk policy and erection all risk policy cover offices, buildings and plants which are under construction and protects the plant & machinery against any unforeseen risk during the time of construction.
Declaration policy: The stock value can fluctuate at a given time. To avoid the need to adjust the sum assured according to the changing stock value, a stock declaration policy can be taken. A provisional premium of 75% of the estimated sum assured shall be paid by the policy holder. If the stock value is lower than the sum assured, there is a provision to get back the remaining amount out of the paid premium.
Floater policy: To ensure single protection of stocks at different location, a floater policy can be taken. Protection taken for stocks at single location would not be sufficient to cover the loss sometimes. Floater policies will help to cover the whole stock irrespective of the location. Single sum assured is applicable for all stocks in all locations.
Loss of profit policy: One can utilise loss of profit policy while re-establishing the business due to damages caused by any of the specified perils covered under the insurance policy. If the business is insured by loss of profit policy, the amount of loss due to any interruption caused by the delay in re-establishment of the businesses can be paid to the insured. Sum assured depends upon the gross profit. Gross profit can be calculated either by adding net profit and standing charges or the difference between the turnover and the variable expenses. Inadequacy of sum assured will proportionately reduce the loss payable. The premium of this policy will be 1.25 times of the base premium for the fire insurance policy.
Burglary policy: This policy is designed to cover damage of the property insured by theft. This policy encompasses full value insurance where in full value of the property can be insured and first loss policy under which only a percentage of the property is insured.
Machinery breakdown policy: It covers financial loss arising on damage to the machinery due to unexpected breakdown. In this policy, the sum assured for the particular machine should represent the present day purchase value of a similar new machine.
Coverage against liability, third party risks
Professional indemnity policy: "Professionals like charted accountants, certified financial planners and architects can cover the risk of errors and omissions committed by them while rendering professional service through this policy," Suresh Sadagopan who runs ladder 7 financial services. Only civil liability claims which are insured with a specified sum are covered under this policy.
Directors and officers liability insurance: Directors and officers, who are widely exposed to liability on account of their wrongful act towards shareholders, customers, suppliers, creditors, employees and other third parties, can be covered under this policy.
"Very often directors and officers are personally exposed to legal action that may point fingers at their management role. Not only could this exhaust a company's assets, it could also drain a director's or officer's personal wealth," says TA Ramalingam, head-underwriting, Bajaj Allianz General Insurance
Workmen compensation policy: This policy provides insurance against any bodily injuries or medical emergencies during the course of employment. Annual income of the employee is considered as the sum assured. The nature of employment and wages are the criteria for premium calculation.
Money in transit policy: Insured under this policy can be protected against the loss of cash, currency notes, coins and securities for money while in transit to any destinations. This policy along with the fidelity guarantee option may indemnify the employers against the financial loss on account of forgery, defalcation and fraudulent conversion by employees.
Key man insurance: Key-man insurance is a life insurance policy taken on the life of a key-man with a view to providing liquidity, financial strength and indemnity to the business organisation in case of losses on account of death, absence or exit otherwise of its key-men from the business.
Terrorism cover: The India Market Terrorism Pool was set up in 2002. The General Insurance Co manages a pool of fund for terror insurance of `1,200 core as mandated by the Insurance Regulatory and Development Authority.
"For property related risks, the India Market Terrorism Pool has a per risk capacity of `750 crore and the rates, terms and conditions are pre defined. Whether the rates would harden as a consequence to the said incident is difficult to state at this stage and the decision has to be taken by the underwriting committee of the pool, which would need Irda's approval too. For risks, whose capacity is beyond the pool capacity, the international market provides capacity and some hardening of rates could be expected," says Rajive Kumaraswami, head risk and re-insurance, ICICI Lombard.
 |
There are various types of policies available in the market depending on the needs of the customers including policies which cover operational, property risks, liability and third party risks.
Cover for operational and property risks
Protection against fire: Insurance companies offer protection against fire and related issues in a business. Damages caused by natural calamities like lightening, flood and forest fire are included in the fire-related cover. The protection ensured by each policy can vary on the nature of business. Fire and special peril cover have an inbuilt STFI cover (storm, tempest, flood, and inundation). An industrial all risk policy covers all the standard risks including earthquake and comes with benefits of a standard fire policy. Contractor's all risk policy and erection all risk policy cover offices, buildings and plants which are under construction and protects the plant & machinery against any unforeseen risk during the time of construction.
Declaration policy: The stock value can fluctuate at a given time. To avoid the need to adjust the sum assured according to the changing stock value, a stock declaration policy can be taken. A provisional premium of 75% of the estimated sum assured shall be paid by the policy holder. If the stock value is lower than the sum assured, there is a provision to get back the remaining amount out of the paid premium.
Floater policy: To ensure single protection of stocks at different location, a floater policy can be taken. Protection taken for stocks at single location would not be sufficient to cover the loss sometimes. Floater policies will help to cover the whole stock irrespective of the location. Single sum assured is applicable for all stocks in all locations.
Loss of profit policy: One can utilise loss of profit policy while re-establishing the business due to damages caused by any of the specified perils covered under the insurance policy. If the business is insured by loss of profit policy, the amount of loss due to any interruption caused by the delay in re-establishment of the businesses can be paid to the insured. Sum assured depends upon the gross profit. Gross profit can be calculated either by adding net profit and standing charges or the difference between the turnover and the variable expenses. Inadequacy of sum assured will proportionately reduce the loss payable. The premium of this policy will be 1.25 times of the base premium for the fire insurance policy.
Burglary policy: This policy is designed to cover damage of the property insured by theft. This policy encompasses full value insurance where in full value of the property can be insured and first loss policy under which only a percentage of the property is insured.
Machinery breakdown policy: It covers financial loss arising on damage to the machinery due to unexpected breakdown. In this policy, the sum assured for the particular machine should represent the present day purchase value of a similar new machine.
Coverage against liability, third party risks
Professional indemnity policy: "Professionals like charted accountants, certified financial planners and architects can cover the risk of errors and omissions committed by them while rendering professional service through this policy," Suresh Sadagopan who runs ladder 7 financial services. Only civil liability claims which are insured with a specified sum are covered under this policy.
Directors and officers liability insurance: Directors and officers, who are widely exposed to liability on account of their wrongful act towards shareholders, customers, suppliers, creditors, employees and other third parties, can be covered under this policy.
"Very often directors and officers are personally exposed to legal action that may point fingers at their management role. Not only could this exhaust a company's assets, it could also drain a director's or officer's personal wealth," says TA Ramalingam, head-underwriting, Bajaj Allianz General Insurance
Workmen compensation policy: This policy provides insurance against any bodily injuries or medical emergencies during the course of employment. Annual income of the employee is considered as the sum assured. The nature of employment and wages are the criteria for premium calculation.
Money in transit policy: Insured under this policy can be protected against the loss of cash, currency notes, coins and securities for money while in transit to any destinations. This policy along with the fidelity guarantee option may indemnify the employers against the financial loss on account of forgery, defalcation and fraudulent conversion by employees.
Key man insurance: Key-man insurance is a life insurance policy taken on the life of a key-man with a view to providing liquidity, financial strength and indemnity to the business organisation in case of losses on account of death, absence or exit otherwise of its key-men from the business.
Terrorism cover: The India Market Terrorism Pool was set up in 2002. The General Insurance Co manages a pool of fund for terror insurance of `1,200 core as mandated by the Insurance Regulatory and Development Authority.
"For property related risks, the India Market Terrorism Pool has a per risk capacity of `750 crore and the rates, terms and conditions are pre defined. Whether the rates would harden as a consequence to the said incident is difficult to state at this stage and the decision has to be taken by the underwriting committee of the pool, which would need Irda's approval too. For risks, whose capacity is beyond the pool capacity, the international market provides capacity and some hardening of rates could be expected," says Rajive Kumaraswami, head risk and re-insurance, ICICI Lombard.
Indian marriages are unthinkable without gold jewellery.
Gold's best bought in the electronic form
Indian marriages are unthinkable without gold jewellery. With the on-going global crisis and gold prices hitting the roof, parents are a worried lot as gold constitutes a significant proportion of expenses in Indian marriages.
This article discusses suitability of various products for the purpose of accumulating gold for marriage of your daughter. You have been buying electronic goods with easy EMIs, but now you can buy electronic gold too. This is a big boon for those parents whose daughter's/son's marriage is few years ahead.
So what are options available for buying gold electronically? You can choose the option depending on various factors like the time horizon over which you want to accumulate gold or how long you want to remain invested in gold. The other important factor which may impact your decision is the purpose of investing in gold.
Till some time ago there was only one way by which you could invest in gold i.e. by purchase of jewellery, gold coins or gold bars. Now with electronic medium for purchase of gold stepping in, you can choose between a slew of products — gold ETF, gold funds and e-gold. Electronic mode scores over physical mode over a longer period of time due to various factors such as purity, storage cost, risk of theft and convenience of buying in small quantities.
Investment through mutual funds
Once you have zeroed in on electronic mode of buying gold, there are two options through which you can proceed. One is through the medium of mutual funds and other is e-gold products offered by the National Spot Exchange Ltd (NSEL). Mutual funds offer two products — the gold ETFs which are traded on the stock exchanges where you can buy and sell gold with your existing stock broker and a demat account. In addition to the brokerage cost payable at the time of purchase and sell, 1% is charged by mutual fund houses for managing the scheme which effectively reduces the return on investment by approximately 1% over returns generated by the underlying gold asset. A few mutual funds have very recently launched gold fund schemes where units can be purchased from the mutual funds directly like other mutual fund schemes. These schemes will in turn invest the money collected in the gold ETF schemes of their fund houses only. These schemes offer the convenience of investing without having a demat account and also let you invest a fixed sum of money through SIP and take the benefit of rupee cost averaging. However, like in case of gold ETF, here also the annual fund management expenses may be around 1.50% which will effectively reduce your returns by around 1.50% as compared to returns given by the underlying asset i.e. gold.
In addition, you cannot convert your gold holding directly into gold by tendering the same to concerned mutual funds unless your holding is equivalent to 1000 gram units. Moreover, since you cannot convert the units into gold, you have to invariably sell these units and pay capital gains tax and purchase gold only equivalent to the money left after providing for capital gains tax.
Investment through e-gold
This is the recent fad under the electronic mode of investment in gold. In case you want to accumulate gold in small quantity over a period of time, e-gold makes better sense. Firstly, the e-gold units purchased by you through the NSEL are fully backed by the equal quantity of gold unlike in case of gold ETFs where the investment in gold may not necessarily be the exact equivalent to the number of units issued by the mutual fund. This is due to the annual cost incurred for managing the funds and other factors like maintenance of cash balances by the mutual funds.
Since NSEL does not charge any fund management charges on an annual basis, the cost which you incur are basically the brokerage cost paid at the time of purchase of e-gold units and annual charges for the demat account which are anyway payable in case you invest in gold ETF also. Since you plan to accumulate sufficient quantity of gold in small quantity over a long period of time, the cumulative impact of saving on account of around 1% or 1.50 % over the long period gets translated into huge saving, thus ensures returns on this investments equivalent to the returns provided by the underlying assets (gold), since each unit is exactly backed by one gram of gold in the vault of the NSEL. This is because NSEL presently does not recover any charges towards storage costs of gold.
Though there are some charges for conversion of electronic gold into physical form and making charges for taking physical delivery of gold, this will not be significant as you will be taking the delivery in larger denomination and the request for such conversion will be one time only at the time of marriage of your daughter.
Another benefit here is that you save on account of capital gains which you can ensure if you decide to take physical delivery of gold from the NSEL against your holding of e-gold units. Let us understand this. Once you have taken possession of the gold from the NSEL it does not amount to any transfer attracting capital gains liability under the provisions of Income Tax Act. The same gold can be used for the purpose of making jewellery to be gifted to your daughter. What you have to do is to obtain an invoice for labour charges in respect of the jewellery made with the gold obtained from NSEL.
Since gift between close relatives is fully exempt without any limits, you can gift the jewellery to your daughter without having any income tax implications in respect of capital gains. I hope that now you know that e-gold provides you an opportunity to accumulate gold over the periods co-terminating at the time of marriage of your daughter/son with cost advantages attached to it.
Indian marriages are unthinkable without gold jewellery. With the on-going global crisis and gold prices hitting the roof, parents are a worried lot as gold constitutes a significant proportion of expenses in Indian marriages.
This article discusses suitability of various products for the purpose of accumulating gold for marriage of your daughter. You have been buying electronic goods with easy EMIs, but now you can buy electronic gold too. This is a big boon for those parents whose daughter's/son's marriage is few years ahead.
So what are options available for buying gold electronically? You can choose the option depending on various factors like the time horizon over which you want to accumulate gold or how long you want to remain invested in gold. The other important factor which may impact your decision is the purpose of investing in gold.
Till some time ago there was only one way by which you could invest in gold i.e. by purchase of jewellery, gold coins or gold bars. Now with electronic medium for purchase of gold stepping in, you can choose between a slew of products — gold ETF, gold funds and e-gold. Electronic mode scores over physical mode over a longer period of time due to various factors such as purity, storage cost, risk of theft and convenience of buying in small quantities.
Investment through mutual funds
Once you have zeroed in on electronic mode of buying gold, there are two options through which you can proceed. One is through the medium of mutual funds and other is e-gold products offered by the National Spot Exchange Ltd (NSEL). Mutual funds offer two products — the gold ETFs which are traded on the stock exchanges where you can buy and sell gold with your existing stock broker and a demat account. In addition to the brokerage cost payable at the time of purchase and sell, 1% is charged by mutual fund houses for managing the scheme which effectively reduces the return on investment by approximately 1% over returns generated by the underlying gold asset. A few mutual funds have very recently launched gold fund schemes where units can be purchased from the mutual funds directly like other mutual fund schemes. These schemes will in turn invest the money collected in the gold ETF schemes of their fund houses only. These schemes offer the convenience of investing without having a demat account and also let you invest a fixed sum of money through SIP and take the benefit of rupee cost averaging. However, like in case of gold ETF, here also the annual fund management expenses may be around 1.50% which will effectively reduce your returns by around 1.50% as compared to returns given by the underlying asset i.e. gold.
In addition, you cannot convert your gold holding directly into gold by tendering the same to concerned mutual funds unless your holding is equivalent to 1000 gram units. Moreover, since you cannot convert the units into gold, you have to invariably sell these units and pay capital gains tax and purchase gold only equivalent to the money left after providing for capital gains tax.
Investment through e-gold
This is the recent fad under the electronic mode of investment in gold. In case you want to accumulate gold in small quantity over a period of time, e-gold makes better sense. Firstly, the e-gold units purchased by you through the NSEL are fully backed by the equal quantity of gold unlike in case of gold ETFs where the investment in gold may not necessarily be the exact equivalent to the number of units issued by the mutual fund. This is due to the annual cost incurred for managing the funds and other factors like maintenance of cash balances by the mutual funds.
Since NSEL does not charge any fund management charges on an annual basis, the cost which you incur are basically the brokerage cost paid at the time of purchase of e-gold units and annual charges for the demat account which are anyway payable in case you invest in gold ETF also. Since you plan to accumulate sufficient quantity of gold in small quantity over a long period of time, the cumulative impact of saving on account of around 1% or 1.50 % over the long period gets translated into huge saving, thus ensures returns on this investments equivalent to the returns provided by the underlying assets (gold), since each unit is exactly backed by one gram of gold in the vault of the NSEL. This is because NSEL presently does not recover any charges towards storage costs of gold.
Though there are some charges for conversion of electronic gold into physical form and making charges for taking physical delivery of gold, this will not be significant as you will be taking the delivery in larger denomination and the request for such conversion will be one time only at the time of marriage of your daughter.
Another benefit here is that you save on account of capital gains which you can ensure if you decide to take physical delivery of gold from the NSEL against your holding of e-gold units. Let us understand this. Once you have taken possession of the gold from the NSEL it does not amount to any transfer attracting capital gains liability under the provisions of Income Tax Act. The same gold can be used for the purpose of making jewellery to be gifted to your daughter. What you have to do is to obtain an invoice for labour charges in respect of the jewellery made with the gold obtained from NSEL.
Since gift between close relatives is fully exempt without any limits, you can gift the jewellery to your daughter without having any income tax implications in respect of capital gains. I hope that now you know that e-gold provides you an opportunity to accumulate gold over the periods co-terminating at the time of marriage of your daughter/son with cost advantages attached to it.
Thursday, September 29, 2011
How policy rate hikes impact you
Inflation goes up, the Reserve Bank of India (RBI) raises policy rates, inflation rises further and the RBI increases its key policy rates again and the cycle continues.
With the prices of oil and commodities cooling off due to slower-than-expected recovery in western countries, everybody was hoping that there will be no more rate hikes. Moreover, the slowdown in growth and the deteriorating IIP numbers were an indication that policy rate hikes are harming than helping.
Just before the latest rate hike, the WPI inflation for August came in at 9.8%, way beyond the comfort level of the RBI. Moreover, the RBI has taken a clear stand that it will do everything possible to tame inflation, even at the cost of a slowing economic growth. In its midterm policy review, the RBI raised its key rates for the 12th time in 18 months.
After the recent hike, the repo rate stands at 8.25% and reverse repo rate at 7.25%. Consumer woes increased further because of a subsequent hike in petrol prices.
EMI with respect to policy rates hike
The hike in policy rates results in an increase in the base rate of the banks based on which the interest rates are determined. Hence, any hike in base rate will result in increased home loan and car loan rates. The policy hikes have a major impact on borrowers as they have to consistently shell out a higher EMI after every increase.
For every 25 bps hike, a borrower has to pay about `16-18 more in EMI for every lakh for loan tenure of 20 years. This means if a borrower has taken a loan of `30 lakh for tenure of 20 years, his or her EMI will go up by `480-Rs 540 for every 25 bps hike. This is assuming the banks raise the floating rate by at least this amount. If banks raise the rate more than 25 bps, the burden will further increase.
In last 18 months, the policy rates have gone up by 325 basis points. This means the outflow on a loan of `30 lakh for tenure of 20 years has gone up by at least `6,240 (480*13). This is a huge increment from a borrowers' perspective. For a borrower earning `12 lakh CTC with a take home of 8 lakh, his or her outflow has increased by approximately 10%.
Impact of the latest hike
Let's discuss the impact of recent hike in the policy rates by 25 bps points. We have to see this hike in conjunction with the hikes in the recent past.
Due to relentless policy rate hikes, borrowers are already stretched. Banks have increased the tenures in most of the cases to maximum possible limit. What this means is that banks either have to increase the EMI or find an innovative way to manage the hike or not pass the cost of the borrowing funds from the RBI to the customer at all. This is as far as existing borrowers are concerned.
For new borrowers, the rates are likely to increase for all kinds of loans. Home loans and car loans will become expensive. To manage the higher EMI, borrowers have to take home loans for longer tenures.
Banks have experienced slowdown in demand for loans and the demand may further go down. We can expect banks to come out with innovative schemes to avoid passing the burden to customers as this will surely deter borrowers further.
What should potential borrowers do?
There is a high possibility of policy rate hikes in future as the RBI has provided a clear indication of what people should expect. Despite slowdown in growth and opposition from industry, the RBI has increased it further and hence we can expect more increases if inflation persists.
Borrowers should stay clear of adding a new liability to their portfolio unless absolutely necessary. Expenses should be controlled. Borrowers must cut down on the avoidable expenses.
Finally, in today's high interest regime, due diligence and research on loans offered by various financial institutions is very important. Borrowers should compare the loan rates, processing fees, and prepayment clauses of different banks to zero in on the best deal offered.
Woman fights off robbers, gets them arrested
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The two men who very meticulously planned to rob a housewife in the Cheetah Camp locality of Trombay probably never imagined that the 38-year-old victim would not only fight back but also get them arrested.
The incident took place on Tuesday at around 4.30pm when the victim Rahimabanu Shaikh was alone at her residence in Soyra Complex at Cheetah Camp. The accused duo, identified as Ashraf Badhshah, 24, and Noor Mohammad Shaikh, 20, showed up at her door, saying that they worked with a courier company and asked for some drinking water.
As soon as the victim went inside to get the water, the accused duo barged into the flat and started threatening the victim with a knife and chopper. They closed the entry door and when the victim tried to resist, pushed her on the bed and assaulted her.
"The victim did not give up and started screaming for help. The accused tried to shut her mouth, but the victim kicked one of them away and rushed towards the door," said senior police inspector Sanjay Khire from Trombay police station.
He added, "The other accused then tried to stop her from opening the door but she punched him in the face and then opened the door, alerting her neighbours and the building's security guard. The accused duo tried to flee but were nabbed and then handed over to the police who had by then reached the spot."
The accused tried to flee from all possible exits of the building complex and the chase went on for around 15-20 minutes. They were finally surrounded by the residents, nabbed and the weapons they were carrying were recovered.
The two accused are from the same locality and are natives of Tamil Nadu. They had come to the city from Chennai six months ago in search of a job. According to the police, after failing to make ends meet doing odd jobs, they planned the robbery as an easy way to make a quick buck but were nabbed at the first attempt.
The duo was produced in a local court and has been remanded in police custody till October 1. Police are interrogating them further to find out if they have been involved in any other criminal activities earlier.
Meet Anna Hazare in blog-osphere
Meet Anna in blogosphere
Crusader outto go global
Anna Hazare has now decided to spread the message against corruption in the virtual world. Anna, along with two of his close associates, will express his opinions on a blog.
The blog (http://annahazaresays.wordpress.com) will become active on Thursday. It already features a letter penned by Hazare explaining why he needed to take the help of technology. "People from the world over want to know my thoughts on various issues. Many times, people (even those who are closer to me) make statements that do not collaborate with my thinking. Henceforth, through the medium of internet, I will personally make sure that my thoughts and views reach over to the people," says the letter, which was written by Hazare addressing the nation.
Political analyst Raju Parulekar, who along with senior journalist Vijay Kuwalekar will be in charge of the blog, told DNA, "We had many meetings to think of a steady medium which can be used to spread his message. When we suggested the idea of a blog, Anna approved it. Hazare has a number of big plans which he wants to share with his countrymen. It is not feasible to conduct media briefings or interviews every time. Now, he will regularly start writing articles, which will be posted on the blog, and updates will be put up on Twitter and Facebook," said Parulekar.
Parulekar added that Anna is already working on a draft of an article, which he termed 'quite explosive', and said that it will be posted on the blog in a couple of days.
Crusader outto go global
 |
Anna Hazare has now decided to spread the message against corruption in the virtual world. Anna, along with two of his close associates, will express his opinions on a blog.
The blog (http://annahazaresays.wordpress.com) will become active on Thursday. It already features a letter penned by Hazare explaining why he needed to take the help of technology. "People from the world over want to know my thoughts on various issues. Many times, people (even those who are closer to me) make statements that do not collaborate with my thinking. Henceforth, through the medium of internet, I will personally make sure that my thoughts and views reach over to the people," says the letter, which was written by Hazare addressing the nation.
Political analyst Raju Parulekar, who along with senior journalist Vijay Kuwalekar will be in charge of the blog, told DNA, "We had many meetings to think of a steady medium which can be used to spread his message. When we suggested the idea of a blog, Anna approved it. Hazare has a number of big plans which he wants to share with his countrymen. It is not feasible to conduct media briefings or interviews every time. Now, he will regularly start writing articles, which will be posted on the blog, and updates will be put up on Twitter and Facebook," said Parulekar.
Parulekar added that Anna is already working on a draft of an article, which he termed 'quite explosive', and said that it will be posted on the blog in a couple of days.
Understanding residential Property Investment
The risk factor in real estate investment lies in the possibility of buying at a higher price and having to sell at a lower one in a depressed market. It is also risky to try time the market to discern the 'best' time to invest. Much like in the stock market, it is impossible to predict the point of lowest ebb in the real estate market. The danger in delaying investment too long is two-fold - firstly, one may lose out on the best properties, and secondly, the market may pick up ahead of one's predictions, meaning that the lower rates may no longer be available. Professional investors with an eye on capital appreciation look for bargains on the property market. It is possible to find such bargains even in a boom period, since there are always property owners who need to sell their holdings quickly for financial or other reasons. To know whether or not one is picking up a bargain requires some basic insight into the current state and inherent nature of the property cycle. This cycle takes approximately seven years for one complete revolution. Having a good knowledge of the local property market - meaning the market in the area one wishes to invest in - is also important, as is sufficient insight into the national and global markets. This is because the trends that drive the global market influence the national market, which in turn has a significant bearing on the local market. In the current scenario, the Indian residential property market is sluggish because property prices have gone through the roof in cities like Mumbai, while there has been an increasingly slower-selling build-up of residential property developers' inventories in Delhi NCR, Pune and other cities. Another reason is the recent hike in lending rates. This has made it harder for intending home buyers to acquire property, thereby giving a fillip to the rental market. Purchases on the residential property market pick up when lending rates or property prices reduce, because people would rather put their money into self-owned property rather than spend on rent. For individual investors, real estate is always a good long-term risk diversifier that has the potential to generate very satisfactory risk-adjusted returns. Real estate has a low volatility quotient, and also low correlations with stock markets and debt. Investors with a long-term view should continue to include property in their investment portfolios. In short:• Establish your investment goals and strategy• Keep your focus on maximizing yield and capital gains• Reduce risk as far as possible• Do not attempt to time the market too accurately• Know the local market and also keep abreast of developments on the national and international markets• Invest for the long term |
Value appreciation matters Within the property market there are certain 'preferred' parameters that make townships ideal from the investment point of view
Value appreciation matters
Within the property market there are certain 'preferred' parameters that make townships ideal from the investment point of view
If you were to conduct a spot survey of people who have purchased apartments in India over the last decade and ask what the primary motivation was, nine times out of ten the answer would be 'making more money'.
It doesn't matter whether the deal was done out of necessity by an actual user or by an investor looking to generate returns. In both cases, the scope for value appreciation has influenced most location and project decisions.
According to Jones Lang LaSalle, while residential properties may yield lower returns, they are safer as long as they are chosen wisely. For city-based smaller investors, investing in apartments or properties near known market drivers such as IT hubs, large manufacturing units and educational institutions is the most feasible and lucrative option. Rental accruals on such properties represent a source of stable and steady income, while the capital value will invariably appreciate with time.
Two factors play a key role in determining the attractiveness of a flat when it comes to attracting tenants and the amount of rentals that can be charged.
The first, obviously, is location. A location that is in proximity to a BPO hub or television studios definitely increases the lease potential of an apartment. Western suburbs from Kandivali to Andheri score particularly high on this aspect, as do Powai and some areas of Navi Mumbai and Thane as well.
When it comes to the type of apartment preferred, a two-bedroom hall kitchen configuration is ideal. If the project has a swimming pool and facilities like a clubhouse and gymnasium, it becomes even easier to get tenants who will be ready to pay a good amount.
The other type of lease demand is primarily generated by multinationals for their senior managers and directors. Here, the locations have to be near business districts and furnished apartments with three bedrooms or more being the preferred norm. Apartments in complexes with lifestyle amenities at peripheral locations like Virar are also witnessing a lease demand from those seeking a weekend getaway that isn't too far from home.
Even today, buyers ask sales teams a simple question: to what extent will this project witness a further increase? No matter how high real estate prices are or how often home loan interest rates go up; it can be managed as long as the location and project hold the promise of concrete returns in future.
Within the property market there are certain 'preferred' parameters that make townships ideal from the investment point of view
 |
If you were to conduct a spot survey of people who have purchased apartments in India over the last decade and ask what the primary motivation was, nine times out of ten the answer would be 'making more money'.
It doesn't matter whether the deal was done out of necessity by an actual user or by an investor looking to generate returns. In both cases, the scope for value appreciation has influenced most location and project decisions.
According to Jones Lang LaSalle, while residential properties may yield lower returns, they are safer as long as they are chosen wisely. For city-based smaller investors, investing in apartments or properties near known market drivers such as IT hubs, large manufacturing units and educational institutions is the most feasible and lucrative option. Rental accruals on such properties represent a source of stable and steady income, while the capital value will invariably appreciate with time.
Two factors play a key role in determining the attractiveness of a flat when it comes to attracting tenants and the amount of rentals that can be charged.
The first, obviously, is location. A location that is in proximity to a BPO hub or television studios definitely increases the lease potential of an apartment. Western suburbs from Kandivali to Andheri score particularly high on this aspect, as do Powai and some areas of Navi Mumbai and Thane as well.
When it comes to the type of apartment preferred, a two-bedroom hall kitchen configuration is ideal. If the project has a swimming pool and facilities like a clubhouse and gymnasium, it becomes even easier to get tenants who will be ready to pay a good amount.
The other type of lease demand is primarily generated by multinationals for their senior managers and directors. Here, the locations have to be near business districts and furnished apartments with three bedrooms or more being the preferred norm. Apartments in complexes with lifestyle amenities at peripheral locations like Virar are also witnessing a lease demand from those seeking a weekend getaway that isn't too far from home.
Even today, buyers ask sales teams a simple question: to what extent will this project witness a further increase? No matter how high real estate prices are or how often home loan interest rates go up; it can be managed as long as the location and project hold the promise of concrete returns in future.
Mumbai's first planned township at Powai and the need for creating sustainable cities
'A township can only start from a community space'
Surendra Hiranandani, Managing Director, Hiranandani Group, shares the experience of setting up Mumbai's first planned township at Powai and the need for creating sustainable cities
The township concept evolved over the past decade. When we started and created our township Hiranandani Gardens at Powai, it was a holistic approach. When one is designing the township you are not thinking of a specific building, your prime objective is to think of the community space. A township can only start from a community space.
The thinking of urban planning in India is unfortunately a relic of the past. Even our architectural education system is a relic of and fascination with people like Le Corbusier, who were great icons for thought and for imagination but were total disasters and catastrophes as far as urban planning is concerned. We still have the education architectural system based on Corbusier thoughts, which are now proven failures, proven to be unsustainable. However, our urban planning and our architectural thought is still focused towards that and this is a global problem it's not just an Indian problem.
So the thinking has to be oriented towards the non-Corbusier approach, not what you learn in architecture college unfortunately. So there will be visitors who may give you an alternate thought but the mainstream thinking is still based on the outdated concepts.
For example Le Corbusier thought was that everything should be zoned, residential should be one part of the city commercial should be another part of the city, they should be distance in between and parks in between. So half a kilometre distance between two buildings and with a big park in the middle and that was considered great. Now that is proven to be a disaster and unsustainable.
So what is sustainable? If you see major cities, which are successful, they are in their own way sustainable. So whether it is New York, London, Hongkong or Singapore, they are sustainable cities because of the way it is planned, the way it works. You need a reasonable amount of density to achieve a good city. In India, we have the lowest density in the world in terms of development and we do a very haphazard halfway development, which doesn't allow you to create a good public infrastructure.
So coming to density we say that you need a particular density to justify underground network. Mumbai is unique because it's already congested so it was great in that sense for public transport and that's why Mumbai has a great public transport, which is efficient and sustainable. You cannot spread the population, you cannot go out in the middle of the highway and put an energy efficient project and then have a 2000 car park in your basement and say ' I made a sustainable building'.
A boarding college can be in a remote locality, I mean how many people are going to commute to that college? Some house keeping people, the professors live there, the students live there so it's a town on its own so it's fine, you can be in a remote area and live in the middle of nowhere. But to have population in density in compact areas is tricky. Then, how you plan that and build within that is what urban development is all about.
Planning of a township starts with a footpath. We build the township on how the movement is there. What is the movement of people on the ground, is the most essential thing for a township. There are ways of doing it. You know how you place your building, how you create the public space. Every plot has its own limitations but when we are talking about township it means it should be minimum 70-100 acres to create it.
For maintaining a township, you have to create the infrastructure for that because in India no matter even if you are making a township, public roads are passing through your projects. You cannot depend on the local municipality or local authorities to maintain your roads, you have to create your funds; you have to create the plan that it will be maintained by the residents or by the developer even after it is completed. The fact is that you make something, in the manner that your value will automatically be much higher. Your project may be much more recession proof, your address should be a much appreciated and wanted address.
Mega townships should be mixed used, they should be pedestrian friendly and automobiles should be the last item considered on the agenda. Private automobiles should be less and more of public transport should be encouraged like taxis. No city in the world can succeed with just private automobiles, it will always be a disaster. No matter how many roads, flyovers and bridges you make there will be a traffic jam over a flyover.
Where the future is concerned, there's no choice. You see, we probably haven't even done 2% and haven't built in the last 50 years what China has built in the last 5 years. 10 years ago we were 20 years behind China, but in 2011 we are 150 years behind it.
When it comes to the advantages of a township vis-a-vis stand alone buildings, the difference is that townships promote culture, so you have a variety of functions whether it is working, playing, etc. Culture is not just living, or else the building becomes a dormitory or just offices. Culture is all about mixed activities and different people with their own skills and aptitudes coming together and living in a civilised way.
Surendra Hiranandani, Managing Director, Hiranandani Group, shares the experience of setting up Mumbai's first planned township at Powai and the need for creating sustainable cities
The township concept evolved over the past decade. When we started and created our township Hiranandani Gardens at Powai, it was a holistic approach. When one is designing the township you are not thinking of a specific building, your prime objective is to think of the community space. A township can only start from a community space.
The thinking of urban planning in India is unfortunately a relic of the past. Even our architectural education system is a relic of and fascination with people like Le Corbusier, who were great icons for thought and for imagination but were total disasters and catastrophes as far as urban planning is concerned. We still have the education architectural system based on Corbusier thoughts, which are now proven failures, proven to be unsustainable. However, our urban planning and our architectural thought is still focused towards that and this is a global problem it's not just an Indian problem.
So the thinking has to be oriented towards the non-Corbusier approach, not what you learn in architecture college unfortunately. So there will be visitors who may give you an alternate thought but the mainstream thinking is still based on the outdated concepts.
For example Le Corbusier thought was that everything should be zoned, residential should be one part of the city commercial should be another part of the city, they should be distance in between and parks in between. So half a kilometre distance between two buildings and with a big park in the middle and that was considered great. Now that is proven to be a disaster and unsustainable.
So what is sustainable? If you see major cities, which are successful, they are in their own way sustainable. So whether it is New York, London, Hongkong or Singapore, they are sustainable cities because of the way it is planned, the way it works. You need a reasonable amount of density to achieve a good city. In India, we have the lowest density in the world in terms of development and we do a very haphazard halfway development, which doesn't allow you to create a good public infrastructure.
So coming to density we say that you need a particular density to justify underground network. Mumbai is unique because it's already congested so it was great in that sense for public transport and that's why Mumbai has a great public transport, which is efficient and sustainable. You cannot spread the population, you cannot go out in the middle of the highway and put an energy efficient project and then have a 2000 car park in your basement and say ' I made a sustainable building'.
A boarding college can be in a remote locality, I mean how many people are going to commute to that college? Some house keeping people, the professors live there, the students live there so it's a town on its own so it's fine, you can be in a remote area and live in the middle of nowhere. But to have population in density in compact areas is tricky. Then, how you plan that and build within that is what urban development is all about.
Planning of a township starts with a footpath. We build the township on how the movement is there. What is the movement of people on the ground, is the most essential thing for a township. There are ways of doing it. You know how you place your building, how you create the public space. Every plot has its own limitations but when we are talking about township it means it should be minimum 70-100 acres to create it.
For maintaining a township, you have to create the infrastructure for that because in India no matter even if you are making a township, public roads are passing through your projects. You cannot depend on the local municipality or local authorities to maintain your roads, you have to create your funds; you have to create the plan that it will be maintained by the residents or by the developer even after it is completed. The fact is that you make something, in the manner that your value will automatically be much higher. Your project may be much more recession proof, your address should be a much appreciated and wanted address.
Mega townships should be mixed used, they should be pedestrian friendly and automobiles should be the last item considered on the agenda. Private automobiles should be less and more of public transport should be encouraged like taxis. No city in the world can succeed with just private automobiles, it will always be a disaster. No matter how many roads, flyovers and bridges you make there will be a traffic jam over a flyover.
Where the future is concerned, there's no choice. You see, we probably haven't even done 2% and haven't built in the last 50 years what China has built in the last 5 years. 10 years ago we were 20 years behind China, but in 2011 we are 150 years behind it.
When it comes to the advantages of a township vis-a-vis stand alone buildings, the difference is that townships promote culture, so you have a variety of functions whether it is working, playing, etc. Culture is not just living, or else the building becomes a dormitory or just offices. Culture is all about mixed activities and different people with their own skills and aptitudes coming together and living in a civilised way.
A self-contained home in the lap of nature Township projects with internal gardens and vast open spaces are greatly preferred by home seekers
A self-contained home in the lap of nature
Township projects with internal gardens and vast open spaces are greatly preferred by home seekers
Ask any home seeker in Mumbai about the factors driving the final decision and you will find that most of them are giving top priority to one aspect - open spaces. Across locations and price segments, you will definitely find the mention of a garden or play area in the list of decision influencers.
The reasons are as varied as the age groups involved. From the very old senior citizens to extremely young infants and children, the spectrum also includes teenage students along with middle aged office goers in between. In short, just about everyone dreams of a home with open spaces.
Location logic
However, all these facilities are usually only available at planned townships, which are usually developed away from the prime city areas. While these townships may entail a longer commute, most home seekers still prefer them because of the tranquil ambience they provide. As far as they are concerned, it is a simple trade-off between commuting convenience and a better quality of life.
Pricing impact
For starters, the higher real estate prices in prime areas near railway stations or the main road junctions allow them to buy a bigger house at a peripheral location. Plus, such locations also have the vast spaces required for township projects with lifestyle amenities, something that's just not available near a municipal market or adjacent to the station!
Facilities nearby
The growing influx of international quality schools and colleges, upmarket shopping malls and multiplexes are also key factors. Basically, it's a lifestyle decision more than anything else and if a longer commute is the price one has to pay, so be it.
Proximity matters
When it comes to the very old or very young members of the family, crossing a busy road is strictly avoidable. Therefore, a project that has a garden or play area within the premises is ideal. If it is close to a public garden or a playground, where elders can take a morning or evening walk while the grandchildren play, so much the better.
Distance deterrent
Nobody wants to travel long distances for a short morning walk. Similarly, at the end of a working day, after a tiring commute, a late night stroll is only possible if there is an open space nearby. Otherwise, it's very difficult to get a spouse to come out again once reaching home.
Security concerns
With kidnappings on the rise, parents are concerned about letting their children go to playgrounds that are far away from home. Similarly, the elderly family members are more prone to health problems. Allowing them to go far away only adds to the worries. Due to this, senior citizens in Mumbai often end up being housebound because there are very few open spaces nearby.
Changing habits
Between the 24-hour multiple channels showing on television, computer games and cell phones, it is rare to find children going and playing outdoor games. In such a scenario, the lack of open spaces will only encourage them to stay indoors. This will prevent them from experiencing the health benefits of outdoor games and enjoying the fun they offer.
Comfort zone
Most people feel that a home should be a place where you have comfort, feel peaceful and pleasant. Locations that are quite far from the main areas means that people residing there do face a long ride to the station or an extended drive to work every day. However, while a lot of expense and time is incurred to reach their destinations, at the end of the day, when they do return home, there is the fresh air, greenery and peaceful atmosphere. This is very important after having spent the entire day surrounded by crowds, noise and pollution.
Verdant greenery
Proximity to nature adds to the soothing ambience offered by projects at such locations. Just imagine having a mountain backdrop or lake view from your residence. Wouldn't it be hard to get such beauty in city areas?
The health factor also comes into consideration. People prefer staying away from the city crowds. Locations near the station and markets are really quite polluted and dirty, so the non-polluted environment is another factor that draws people to distant locations. There is something special about breathing in fresh, unpolluted air first thing in the morning that makes such projects a true haven for their residents.
Better option
In a scenario where people go out of the city to nearby hill stations for a peaceful weekend, isn't it so much better to live in a house that's virtually a hill station in itself?
Buying even a small home at prime city locations entails constant hard work with crazy work schedules and very little sleep. Then you have lots of money but no time and space to enjoy it. Instead of doing the same thing, one can have the best lifestyle while staying in a township away from the city.
Township projects with internal gardens and vast open spaces are greatly preferred by home seekers
Ask any home seeker in Mumbai about the factors driving the final decision and you will find that most of them are giving top priority to one aspect - open spaces. Across locations and price segments, you will definitely find the mention of a garden or play area in the list of decision influencers.
The reasons are as varied as the age groups involved. From the very old senior citizens to extremely young infants and children, the spectrum also includes teenage students along with middle aged office goers in between. In short, just about everyone dreams of a home with open spaces.
Location logic
However, all these facilities are usually only available at planned townships, which are usually developed away from the prime city areas. While these townships may entail a longer commute, most home seekers still prefer them because of the tranquil ambience they provide. As far as they are concerned, it is a simple trade-off between commuting convenience and a better quality of life.
Pricing impact
For starters, the higher real estate prices in prime areas near railway stations or the main road junctions allow them to buy a bigger house at a peripheral location. Plus, such locations also have the vast spaces required for township projects with lifestyle amenities, something that's just not available near a municipal market or adjacent to the station!
Facilities nearby
The growing influx of international quality schools and colleges, upmarket shopping malls and multiplexes are also key factors. Basically, it's a lifestyle decision more than anything else and if a longer commute is the price one has to pay, so be it.
Proximity matters
When it comes to the very old or very young members of the family, crossing a busy road is strictly avoidable. Therefore, a project that has a garden or play area within the premises is ideal. If it is close to a public garden or a playground, where elders can take a morning or evening walk while the grandchildren play, so much the better.
Distance deterrent
Nobody wants to travel long distances for a short morning walk. Similarly, at the end of a working day, after a tiring commute, a late night stroll is only possible if there is an open space nearby. Otherwise, it's very difficult to get a spouse to come out again once reaching home.
Security concerns
With kidnappings on the rise, parents are concerned about letting their children go to playgrounds that are far away from home. Similarly, the elderly family members are more prone to health problems. Allowing them to go far away only adds to the worries. Due to this, senior citizens in Mumbai often end up being housebound because there are very few open spaces nearby.
Changing habits
Between the 24-hour multiple channels showing on television, computer games and cell phones, it is rare to find children going and playing outdoor games. In such a scenario, the lack of open spaces will only encourage them to stay indoors. This will prevent them from experiencing the health benefits of outdoor games and enjoying the fun they offer.
Comfort zone
Most people feel that a home should be a place where you have comfort, feel peaceful and pleasant. Locations that are quite far from the main areas means that people residing there do face a long ride to the station or an extended drive to work every day. However, while a lot of expense and time is incurred to reach their destinations, at the end of the day, when they do return home, there is the fresh air, greenery and peaceful atmosphere. This is very important after having spent the entire day surrounded by crowds, noise and pollution.
Verdant greenery
Proximity to nature adds to the soothing ambience offered by projects at such locations. Just imagine having a mountain backdrop or lake view from your residence. Wouldn't it be hard to get such beauty in city areas?
The health factor also comes into consideration. People prefer staying away from the city crowds. Locations near the station and markets are really quite polluted and dirty, so the non-polluted environment is another factor that draws people to distant locations. There is something special about breathing in fresh, unpolluted air first thing in the morning that makes such projects a true haven for their residents.
Better option
In a scenario where people go out of the city to nearby hill stations for a peaceful weekend, isn't it so much better to live in a house that's virtually a hill station in itself?
Buying even a small home at prime city locations entails constant hard work with crazy work schedules and very little sleep. Then you have lots of money but no time and space to enjoy it. Instead of doing the same thing, one can have the best lifestyle while staying in a township away from the city.
Sachin moves to his new bungalow
Sachin moves stuff in without OC
Eyebrows have been raised at the BMC after cricket superstar Sachin Tendulkar performed a grihapravesh ceremony at his newly constructed five-storey bungalow on Perry Cross Road in Bandra (West) on Wednesday without first obtaining an occupation certificate (OC) from the civic body.
After the puja, Tendulkar reportedly expressed hope that he would be able to start living at the bungalow, which he has not yet named. Tendulkar has already moved some of his furniture into his new house. Under the law, one cannot enter a flat or building for which an occupation certificate has not been procured. An official of the building proposals department of the BMC confirmed that no OC had been issued for Tendulkar's bungalow. "It will take at least 15 days more," the official said, "because he has to submit a few documents."
A senior BMC official, who did not want to be named, said, "It was wrong [on Tendulkar's part to perform a grihapravesh] if the corporation has not certified the building fit for human habitation."
The official said action could be initiated against Tendulkar by slapping a notice under section 350(A) of the BMC Act for occupying premises without an OC. "A person who illegally occupies a house can be prosecuted also," the official said.
This view was corroborated by the official from the building proposals department quoted earlier. "If he starts staying in the house before obtaining an OC, it would be an illegal act. We, too, heard him announce that he would stay in the bungalow from now on. We will visit the place to check and decide our course of action."
Anjali, Tendulkar's wife, did not reply to DNA's queries e-mailed two days ago.
Another civic official said how, three years ago, the BMC had fined industrialist Mukesh Ambani Rs30 lakh for beginning work on a helipad on his Sea Wind residence at Colaba without permission. "It will be interesting to see how the civic authority and the ruling Sena-BJP react to this," he said.
Municipal commissioner Subodh Kumar was not available for comment.
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Eyebrows have been raised at the BMC after cricket superstar Sachin Tendulkar performed a grihapravesh ceremony at his newly constructed five-storey bungalow on Perry Cross Road in Bandra (West) on Wednesday without first obtaining an occupation certificate (OC) from the civic body.
After the puja, Tendulkar reportedly expressed hope that he would be able to start living at the bungalow, which he has not yet named. Tendulkar has already moved some of his furniture into his new house. Under the law, one cannot enter a flat or building for which an occupation certificate has not been procured. An official of the building proposals department of the BMC confirmed that no OC had been issued for Tendulkar's bungalow. "It will take at least 15 days more," the official said, "because he has to submit a few documents."
A senior BMC official, who did not want to be named, said, "It was wrong [on Tendulkar's part to perform a grihapravesh] if the corporation has not certified the building fit for human habitation."
The official said action could be initiated against Tendulkar by slapping a notice under section 350(A) of the BMC Act for occupying premises without an OC. "A person who illegally occupies a house can be prosecuted also," the official said.
This view was corroborated by the official from the building proposals department quoted earlier. "If he starts staying in the house before obtaining an OC, it would be an illegal act. We, too, heard him announce that he would stay in the bungalow from now on. We will visit the place to check and decide our course of action."
Anjali, Tendulkar's wife, did not reply to DNA's queries e-mailed two days ago.
Another civic official said how, three years ago, the BMC had fined industrialist Mukesh Ambani Rs30 lakh for beginning work on a helipad on his Sea Wind residence at Colaba without permission. "It will be interesting to see how the civic authority and the ruling Sena-BJP react to this," he said.
Municipal commissioner Subodh Kumar was not available for comment.
Wednesday, September 28, 2011
There is no Chinese factory that makes Dalai Lamas
A few days ago the Dalai Lama, from his monastery nestled in the Himalayan foot-hills in Dharamshala, took a major step to set at rest concerns of the Tibetan people relating to their religious beliefs. Beijing's plans to ensure a decisive say in selection of the next Dalai Lama, carefully laid since 2007, are now seriously threatened. Anticipating China's attempts to 'manipulate' the system, the Dalai Lama clarified that he and high lamas nominated by him have the final say in selection of a reincarnate Lama, including the Dalai and Panchen Lamas. Whether there will be a XVth Dalai Lama has, for the moment, been left unsettled. The latter gives the Chinese and Dalai Lama's establishment some room for manoeuvre.
The 4,041-word statement released by the Dalai Lama on September 24, at a special press conference in Dha- ramshala, criticises Chinese authorities for manipulating Tibetan religious beliefs and practices for political ends. The statement will have upset Chinese leaders, especially those in the Chinese Communist Party
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In the statement, the Dalai Lama opened the prospect of his reincarnation being discovered during his lifetime. Clarifiying that a Tulku is a reincarnate Lama who can choose his time and place of re-birth and have many forms, the Dalai Lama added: "Superior Bodhisattvas, who can manifest themselves in hundreds or thousands of bodies simultaneously, can manifest an emanation before death." Jamyang Khyentse Wangpo, an ancient sage, was quoted: "Reincarnation is what happens when someone takes rebirth after the predecessor's passing away; emanation is when manifestations take place without the source's passing away." Introduction of this statement paves the way for the Dalai Lama announcing, at a later stage, that he has decided on his successor.
Stating that "they say they are waiting for my death and will recognise a Fifteenth Dalai Lama of their choice," the Dalai Lama cautioned Tibetans to "bear in mind that, apart from the reincarnation recognised through such legitimate methods, no recognition or acceptance should be given to a candidate chosen for political ends by anyone, including those in the People's Republic of China." Hinting at the reincarnation's role, he assured "the main purpose of the appearance of a reincarnation is to continue the predecessor's unfinished work, to serve Dharma and beings."
The meeting in Dharamshala coincided with growing concern in Beijing regarding the XIVth Dalai Lama's reincarnation. Beijing has, in recent times, insisted it accorded approval for recognition of high lamas, including the Dalai and Panchen Lamas, since the twelfth century. The Dalai Lama contradicted this saying only two of his predecessors were selected by drawing lots from the 'Golden Urn.' In September 2007, communist China enacted 14-part regulations, declaring "the so-called reincarnated living Buddhas without government approval is illegal and invalid." The rules were formulated to assert authority over the deeply religious Tibetan Buddhists and limit the Dalai Lama's influence. Described by the Dalai Lama as "outrageous and disgraceful", they were intended to enable Beijing to assert control over Tulkus, who exercise enormous influence in the Himalayan region since they lead religious communities. The Dalai Lama was excluded from the process by prohibiting anyone outside China from taking part in seeking and recognising a living Buddha. The regulations have now been criticised as "the enforcement of various inappropriate methods for recognising reincarnations to eradicate our unique Tibetan cultural traditions is doing damage that will be difficult to repair".
A main objective was to ensure a decisive say for Beijing in selection of the 76-year old Dalai Lama's reincarnation. A Tibetan Deputy to China's National People's Congress (NPC) disclosed in March 2009, that 'Beijing will decide on the reincarnated successor of the Dalai Lama when Tibetan Buddhism's highest spiritual leader passes away'.
Also as part of its policy of neutralising potential threats to its stability from Tibetans, Beijing has been very active in Nepal in recent years. It successfully pressured Nepal's government to curb the activities of Tibetans and return to Chinese security authorities those Tibetans who escape from Tibet. Rumours have been floated that the next Dalai Lama could be 'discovered' in Nepal. China has initiated steps to woo Nepal's Tibetan Buddhist community, including with a US$ 3 billion proposal for the development of Lumbini, Buddha's birthplace. The proposal is sponsored by a Chinese NGO which has Nepalese Maoist leader Prachanda as Vice President and an ex-Chinese Army Radar Engineer as Executive Director. Some Nepal-based Buddhist organisations and senior Lamas have been persuaded to write supporting the project.
The Dalai Lama's September 24 statement will certainly reverberate throughout China's Tibetan population. It is likely to upset Chinese calculations and harden resistance by Tibetans inside China.
Artificial eyes give a ray of hope to blind
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"We have transplanted this artificial eye on 37 patients in Europe and the process for its approval is underway in the US," Dr Rajat Agarwal, one of the doctors who developed this artificial eye, told DNA.
"At present, the artificial eye costs around Rs45 lakh which is too high for the common man. So we are in talks with the Indian government for developing the device indigenously at a low price," said Agarwal.
Agarwal along with others developed this artificial eye or bionic eye as it is called at the Dogni Eye Institute, Los Angeles. It is also called as electronic retina chip.
"We have sent proposals to the government of India and have got positive response so far. We are in talks with department of Science and Technology and DRDO. The government has given its nod for the indigenous development of the device," Agarwal told DNA.
"This has got a camera fitted to it. The cost of that camera is around Rs10 lakh," he added.
Radars, sensors to secure 7,500km fragile coastline
The country's 7,500 km-long coastline will be soon secured with a network of radars and static sensors to avert any terror attack like 26/11.
Besides, the Indian Coast Guard will be the biggest force among all such forces in world by the end of 2018, defence minister AK Antony said here on Tuesday.
"After 26/11, the Coast Guard has become the nodal agency for ensuring coastal security. Since then, the government has sanctioned an additional manpower of 4,360 to the force — more than 50 per cent of its existing strength then," he said while addressing the 30th annual Coast Guard commanders' conference here.
He said that to tighten the coastal security, a chain of 46 static sensors atop lighthouses along the coastline and 36 such radars in the mainland will be installed in the first phase that would be completed by 2012.
"Also within the last three years, the assets of the Coast Guard have increased by 50 percent. The number of stations will also double, with another 20 being sanctioned, along with a new regional headquarters at Gandhinagar in Gujarat. The total number of coast guard stations is now 31 with a district headquarters in Lakshadweep," he said.
"Indian shipyards are building 156 ships, boats and other vessels for the Coast Guard. Twelve more maritime patrol aircraft will join the force within two years," he added.
He also said the Cabinet Committee on Security would take a decision on finalising a new policy on fighting piracy.
Defence minister says northern neighbour China strengthening capability along the border
Antony admits China incursion
Defence minister says northern neighbour strengthening capability along the border
Defence minister AK Antony on Tuesday admitted that there have been incursions from the Chinese side and said his ministry is working on mechanism to resolve border issues along the Line of Actual Control.
"In recent past, we have learnt that China is strengthening its capability on the border area. We also need to do the same. In the past, India was negligent in strengthening its capabilities in the eastern sector," Antony said at the 30th Annual Coast Guard Commanders' Conference here.
"Simultaneously the government is working on setting up of a mechanism to resolve border issues in consultation with all stake holders. This mechanism will be coordinated through the ministry of external affairs," he added.
Instead of "grumbling" over the issue, India has started modernising it own capabilities by taking steps such as raising new Army divisions and Advanced Landing Grounds (ALGs) for aircraft operations, he added.
Asked about recent incursions from the Chinese side, the minister said this was due to differences in perception of boundary which was not properly demarcated.
He went on to add that the overall situation along the border was "peaceful".
"The main thing is that in the absence of a demarcated border, there is a difference of perception. Sometimes incursions take place when they go to areas which they think is with them and sometimes we also do that," he said.
Antony said as a follow-up to the decision taken by prime minister Manmohan Singh and Chinese president Hu Jintao in April this year, a joint mechanism to tackle border issues would be established in the next few months.
"There was an incident (of incursion) like that few months ago and we have conveyed our concerns to them.... Of late, we have taken a step to constitute a mechanism to tackle these issues on the border. I am hopeful that with this mechanism, which will come in few months, things will improve," he said.
Defence minister says northern neighbour strengthening capability along the border
Defence minister AK Antony on Tuesday admitted that there have been incursions from the Chinese side and said his ministry is working on mechanism to resolve border issues along the Line of Actual Control.
"In recent past, we have learnt that China is strengthening its capability on the border area. We also need to do the same. In the past, India was negligent in strengthening its capabilities in the eastern sector," Antony said at the 30th Annual Coast Guard Commanders' Conference here.
"Simultaneously the government is working on setting up of a mechanism to resolve border issues in consultation with all stake holders. This mechanism will be coordinated through the ministry of external affairs," he added.
Instead of "grumbling" over the issue, India has started modernising it own capabilities by taking steps such as raising new Army divisions and Advanced Landing Grounds (ALGs) for aircraft operations, he added.
Asked about recent incursions from the Chinese side, the minister said this was due to differences in perception of boundary which was not properly demarcated.
He went on to add that the overall situation along the border was "peaceful".
"The main thing is that in the absence of a demarcated border, there is a difference of perception. Sometimes incursions take place when they go to areas which they think is with them and sometimes we also do that," he said.
Antony said as a follow-up to the decision taken by prime minister Manmohan Singh and Chinese president Hu Jintao in April this year, a joint mechanism to tackle border issues would be established in the next few months.
"There was an incident (of incursion) like that few months ago and we have conveyed our concerns to them.... Of late, we have taken a step to constitute a mechanism to tackle these issues on the border. I am hopeful that with this mechanism, which will come in few months, things will improve," he said.
Tax deduction on arrears of salary decoded
Tax deduction on arrears of salary decoded |
When arrears of pay are received in any particular year, it could artificially raise the tax liability in that year. This happens because due to the receipt of arrears, the total income and consequently the tax payable increases.  Vishal worked as a sales representative of a leading branded jewellery manufacturer. His remuneration was payable on a salary-cum-commission basis. On account of some reconciliation issues with the head office, the commission payable in respect of some sales made in the year 2007 remained unpaid. In time, the issue was resolved and the outstanding amount due to Vishal was paid to him in 2011. However, this was unfair to Vishal. Had he originally received the money in the years that he was supposed to receive it, the additional tax would have been staggered over the years instead of converging in one year as a lump sum payment. Therefore, the law allows a tax deduction under Section 89(1) for this additional tax burden and we will be examining the same in detail. Incidentally, this deduction is available to every taxpayer who gets salary in advance or in arrears, whether one is a government employee or is working in the private sector. Section 89(1) Basically, the relief under Sec. 89(1) is arithmetical. It involves ascertaining two amounts of tax. The first is the amount of tax applicable to the total income including the extra amount in the year of receipt. The second is calculating the amount of tax by adding the arrears to the total income of the years to which they relate. The difference between the two amounts is the amount of deduction allowed. In other words, if the taxpayer is required to pay any additional amount of tax (in the year of receipt) than what he would have otherwise paid had he received the money in the year(s) that he was supposed to receive it, such additional tax need not be paid i.e. it can be reduced from the tax payable. Let us take a numerical example to understand this issue. In the aforementioned case, let's say Vishal receives `2 lakh in the current year as arrears of pay. This money was actually the additional sales incentive pertaining to 2007. Now, let's assume that ordinarily, as per his salary level, Vishal would have paid a tax of `1,80,000. But just because of the inclusion of the sales incentive his tax payable climbs to `2,40,000. Now, for a moment let's go back to 2007. That year, Vishal had paid a tax of `1,35,000. But had the sales incentive been paid to him then itself, Vishal would have paid a higher tax of `1,70,000. Given this data, let us calculate the tax deduction available to Vishal. (Note that these figures are hypothetical and meant as an example for ease of understanding - in reality, actual computations will have to be undertaken.) Conclusion For simplicity and ease of understanding, in the example, we have assumed that the arrears are being received only in respect of one year i.e. 2007. In practical life, generally, arrears may be received for multiple years in the past. In such cases, the computation of tax for each individual year would have to be undertaken to arrive at the accurate amount of the additional tax payable. Also, it is important to note that since a deduction under Sec 89(1) reduces the final amount of tax payable, to that extent, it would also reduce the TDS on salary. Employees should indicate to the employer that a lower TDS needs to be deducted by way of furnishing Form No 10E. This form represents a true and authentic statement of the total income of the earlier yeas to which the arrears pertain. There is no warrant for a notice under Sec 148 or calling for returns of income of the earlier years. (Circular No 331, dated 22.3.1982) Lastly, since it is the extra tax on the arrears that is the relief admissible under Sec 89(1), it follows that if there is no excess, no relief is admissible. In other words, if the tax in the year of receipt works out to be actually lower than what was payable in the past, no relief under Sec 89(1) can be claimed. |
'Panvel has very high potential' Fortune Infra has primarily focused on this zone due to the huge growth potential
'Panvel has very high potential' |
Fortune Infra has primarily focused on this zone due to the huge growth potential |
Fortune Infra has made the Panvel-Matheran Road a focus area and it has about 6-7 ongoing projects there today. Since the launch of Green Heaven in June 2007, the company has seen sustained demand for housing in the area. Pradeep Swami, Director, Fortune Infra, shares, "Every Sunday we get 2-3 bookings for flats. We share our profit with the customer and give as much amenities as possible. A person who is in search of a 1 BHK in Airoli or Vashi happily gets a 2BHK from us on Panvel Matheran Road for the same price." Dhiren Shah, Director, Fortune Infra, explains, "For customers the most important thing is value for money, also what kind of amenities you provide to the customer. Ten years later Panvel will be at par with Borivli and recently CIDCO proposed metro line to Panvel. Once the airport starts the connectivity between Mumbai and Navi Mumbai will become much better. People will soon see this entire belt as Mumbai. People are fine with travelling a bit more if they have a comfortable life. "We are planning to set up a township of 2,000 flats probably next year. It will be a self contained and integrated township. Our current project is Fortune Gardens where we will be giving possession in the next couple of months. We are launching Fortune Belliza in November with 250 flats where we are trying to use a green concept. Here we will be saving energy by providing solar power for common amenities, so the running cost of the project can be reduced. By using this green concept we can lower down the maintenance cost. Most of them pay EMI's, thus saving electricity and energy costs will benefit the residents," he adds. |
A quantum jump in property options, lifestyle facilities and infrastructure make Navi Mumbai an ideal destination
Realty growth takes off in reality | ||
A quantum jump in property options, lifestyle facilities and infrastructure make Navi Mumbai an ideal destination | ||
Navi Mumbai is one of the few places, which offers options for every segment of home buyers. From the entry-level budget segment to the most luxurious penthouses, the entire spectrum is available here. In fact, over the past few years, Navi Mumbai has been quietly making the transition from an emerging location to a complete residential destination. From connectivity to shopping facilities and entertainment hubs to educational institutions, it has been gradually assembling all the essential ingredients to have the perfect combination that attracts home seekers. Since the International airport received environmental clearance, Navi Mumbai has been witnessing the first steps towards an even greater makeover. The upcoming international airport not only justifies all prior predictions of Navi Mumbai being a place with potential, but also paves the way for all the trappings that accompany one, right from luxury hotels to convention centres.According to experts, locations like Kharghar, areas around the airport and Panvel will benefit the most in terms of price appreciation. The upcoming International airport has acted as a catalyst for flat buyers and the property market. While previously people were going there out of budget constraints, now home seekers are coming to Navi Mumbai out of choice. With educational institutions like schools and colleges, water supply for the next 20 years population, hotels, malls, now the entire social infrastructure is in place. The social fabric of Navi Mumbai has also developed considerably in last four years as the city witnessed a transformation with the entry of swanky malls, five-star hotels and clubs. Leading global brands made their presence felt and now enthusiasts no longer have to travel long distances to buy things they need. The quality of life that Navi Mumbai offers has witnessed a major transformation. It is now completely self-sufficient in every way. With the International airport coming in, Navi Mumbai will have an identity of its own and be self sufficient in every way. Once it comes in there will be ancillary industries, cargo, logistics, the SEZ Dronagiri. When you have employment, people will want to stay nearby. Already the IT sector and other industries have given a good amount of employment opportunities. Navi Mumbai is a central location so it is ideal for all. The infrastructure in Navi Mumbai is good, roads are wide, traffic is minimal and there is twenty four hours supply of water. This is a planned city and now, everyone wants to reside here. They say infrastructure is the key to the development of any city and Navi Mumbai, which was already developed in a planned manner, is getting all the additional aspects that it needed to catapult into the big league. The 'City of the 21st century' is soaring and how. Navi Mumbai has already shed its satellite township image and is already being seen as a city in itself. While Vashi and Nerul were considered the developed zones, newer nodes like Kharghar, Kamothe, Panvel and Ulwe are also gaining importance in the minds of investors. Prices have simply shot up over the past year and are expected to rise further. |
Trai's 100 SMS a day trying for many of us
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Media professional Amrita Mane too is wondering how she will work with only 100 text messages a day, when she needs to send at least 200 to 300 daily.
The decision, which actually has been taken to restrict millions of messages sent by telemarketing companies, was formally implemented from Tuesday. However, a look at the copy of the Trai directive shows many ambiguities in it.
Trai chairman JS Sharma said that many essential services, including banks, airlines, financial institutions and even schools and colleges have been exempted from the ban.
"We have not issued a carpet ban for all. The central government is sensitive while taking such crucial decisions. We have exempted four types of services from the restriction, which include schools and colleges," Sharma told DNA. However, there is no specific mention of schools, colleges or even services such as blood banks and hospitals in the directive.
The directive does mention four categories - dealers of the service providers, and DTH operators (who refill prepaid mobile cards with an SMS) and social networking sites. The other two categories mentioned are directory services, such as Justdial, and e-ticketing services.
While most of the service providers were not ready to comment on the issue, director general of Cellular Operators Association of India Rajan Mathews said that at the moment they are not thinking of action against the directive.
"Our policy for the next few days at least will be to wait and watch. We had a meeting with the department of telecom and TRAI a week ago. They have assured us that they may exempt some more categories later. We may approach them in another three to four weeks," he said.
Not just parents but even school managements are worried. Rohit Bhat, principal of Children Academy in Malad, said, "After speaking to our service provider, we have issued a circular to parents stating that they should not register with the 'Do Not Disturb' service, as the school needs to send regular updates by SMS. We do update our website regularly, but it will create a problem for parents who do not have computers."
Sudeshna Chatterjee, principal of Jamnabai Narsee School, Juhu, said, "We find the bulk SMS system necessary for communicating with parents, especially during emergencies. Now, we will have to rely on e-mails to which parents might not have immediate access."
Many college students relying on text messages are already thinking of other options. Jayesh Nalawade, a second-year MBA student at Sydenham Institute of Management Studies and Research, said: "Bulk SMS is not the only way of communicating with students. There are social networking websites as well, or we can use Google or Yahoo groups."
Thane mental hospital lines up occupational therapy
The Thane Mental Hospital is setting up a special occupational therapy project where patients who complete treatment will be trained to make agarbattis to be sold under a special brand: Manas Agarbatti.
Hospital authorities feel such a move will keep those who have completed psychiatric treatment engaged throughout the year instead of making seasonal items like greeting cards and lamps. Apart from agarbattis, patients will also be trained to make eco-friendly Ganeshas, demand for which has risen since last year.
According to senior doctors, most patients who spend two-three months in treatment return home with no job prospects. To help them regain confidence, such vocational training becomes significant.
"For this project, we will set up a centre with 25 people. A bus will pick up and drop them from the hospital to railway stations and bus stops. An agarbatti brand is ready to offer training on making and marketing the agarbattis," said Dr Kumvat.
He added that the Annirudha Bapu Trust is ready to offer lessons on making eco-friendly Ganesh idols. Another firm is ready to award a contract to the hospital for making paper plates. The centre is expected to start operations during the Mental Health Week from October 3 to 10.
Slum-free Mumbai may become a reality Centre to open up saltpan and government-owned land to build affordable homes under the Rajiv Awas Yojana
Slum-free Mumbai may become a reality
Centre to open up saltpan and government-owned land to build affordable homes under the Rajiv Awas Yojana
A slum-free Mumbai? It may become a reality if the Central government's decision to give affordable houses to all slum dwellers under its Rajiv Awas Yojana is a success.
And to create space for constructing affordable houses for the poor and weaker section of society, the Centre has decided to open up saltpan and government-owned land.
Kumari Shailja, minister of central housing and urban poverty alleviation, and chief minister Prithviraj Chavan released the Rajiv Awas Yojana documents on Tuesday.
DNA had earlier reported that as part of the Rajiv Awas Yojana, the government would ask private developers to keep 20-25% of houses in all private and public projects for the economically weaker section.
Shailja said the plan was to bring all existing slums within the formal system, thus enabling them to avail all basic facilities. "It will help control the growth of slums and prepare the city for urban development. We are also setting up a financial mechanism offering risk mortgage fund, where the person who will be allotted a home has a pay a minimum amount," she said.
"To implement the scheme successfully across India, the Centre will offer 50% funds for the construction of affordable houses. The rest will be raised by the state and the person who will get the house."
Chavan said the scheme will help to make Mumbai, and subsequently the state, slum-free. "It is the dream and to materialise it, each stakeholder has to work hard and honestly. The local corporation will create an infrastructure so that the existing one is not burdened. Developers' participation is also crucial."
But, urban planners are not convinced. "Earlier, we have given houses to pre-1995 slum dwellers. The government wanted to extend the deadline, but the court had objected. So, to allure the slum dwellers, the government has come up with the Rajiv Awas Yojana, which is just an improved version of the SRA," said an urban planner.
Developers believe that the government needs to think out of the box. "Whenever polls are around the corner, the government comes up with such schemes. This scheme is very ambiguous and has several loopholes," said a builder.
Centre to open up saltpan and government-owned land to build affordable homes under the Rajiv Awas Yojana
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And to create space for constructing affordable houses for the poor and weaker section of society, the Centre has decided to open up saltpan and government-owned land.
Kumari Shailja, minister of central housing and urban poverty alleviation, and chief minister Prithviraj Chavan released the Rajiv Awas Yojana documents on Tuesday.
DNA had earlier reported that as part of the Rajiv Awas Yojana, the government would ask private developers to keep 20-25% of houses in all private and public projects for the economically weaker section.
Shailja said the plan was to bring all existing slums within the formal system, thus enabling them to avail all basic facilities. "It will help control the growth of slums and prepare the city for urban development. We are also setting up a financial mechanism offering risk mortgage fund, where the person who will be allotted a home has a pay a minimum amount," she said.
"To implement the scheme successfully across India, the Centre will offer 50% funds for the construction of affordable houses. The rest will be raised by the state and the person who will get the house."
Chavan said the scheme will help to make Mumbai, and subsequently the state, slum-free. "It is the dream and to materialise it, each stakeholder has to work hard and honestly. The local corporation will create an infrastructure so that the existing one is not burdened. Developers' participation is also crucial."
But, urban planners are not convinced. "Earlier, we have given houses to pre-1995 slum dwellers. The government wanted to extend the deadline, but the court had objected. So, to allure the slum dwellers, the government has come up with the Rajiv Awas Yojana, which is just an improved version of the SRA," said an urban planner.
Developers believe that the government needs to think out of the box. "Whenever polls are around the corner, the government comes up with such schemes. This scheme is very ambiguous and has several loopholes," said a builder.
Call 'Baby Simran' to track trains railway
Call 'Baby Simran' to track trains
Commuters now no longer need to depend on muffled rail announcements for train delays. They can just dial a number and get the information themselves.
The Indian Railways is about to redefine rail travel by devising a new satellite-based technology to help commuters waiting at stations to track down the exact location of their train. The project will first be launched for Rajdhani Express.
Called Baby Simran, the official name of the project is Satellite Imaging for Rail Navigation (SIMRAN), an ambitious project the ministry has been working on for four years.
A top official said, "The project will be launched soon. As part of it, four trains will initially be installed with GPS."
Commuters now no longer need to depend on muffled rail announcements for train delays. They can just dial a number and get the information themselves.
The Indian Railways is about to redefine rail travel by devising a new satellite-based technology to help commuters waiting at stations to track down the exact location of their train. The project will first be launched for Rajdhani Express.
Called Baby Simran, the official name of the project is Satellite Imaging for Rail Navigation (SIMRAN), an ambitious project the ministry has been working on for four years.
A top official said, "The project will be launched soon. As part of it, four trains will initially be installed with GPS."
Buying gold? Just do a purity check After suffering huge losses following the crash, jewellers are likely to adulterate your yellow metal
Buying gold? Just do a purity check
After suffering huge losses following the crash, jewellers are likely to adulterate your yellow metal
Jewellers and traders have been caught at the wrong end of the stick after a stunning plunge in the prices of gold and silver over the last few days caused heavy losses.
"Their losses will be in crores, depending on how much their trade exposure was. Generally, 30% of gold trade in India pertains to hedging of positions, but many a time greed overtakes (which spur one-sided bets), which leads to heavy losses," says Vedant Jatia, director (sales) at Indian Institute of Jewellery.
Jewellers had anticipated prices to rise so they had stocked up on the metal for the festive season. But, to their utter shock, prices went the other way. The misery was compounded due to leverage, which eroded their capital in no time.
Traders so far had to pay margin money of just 5% to take positions in gold and 6% in silver. Meaning, if they wanted to bet Rs100 on the way gold prices will swing, traders had to pay only Rs 5. So, while a 5% rise in the price of gold doubled money (Rs 5 invested, Rs 5 gained), a similar swing the other way obliterated capital.
Due to huge volatility in the last couple of days, commodity exchanges like MCX increased the margin requirements to nearly 9% for gold and trebled it to 18% on silver.
Meaning, as prices continued to fall from last week, traders had to either book losses or pay more margins to keep their positions. This forced many to cancel trades and book losses.
To recoup losses, jewellers may be tempted to adulterate gold with other alloys which add weight and colour, experts warn. "One should avoid buying non-standardised gold for investment because it may be dubious in purity and so you'll lose on resale value. Zinc and copper being the cheapest alloys, there are chances small jewellers may try to adulterate using that," said Jatiya.
Ghanshyam Dholakia, director, KK Jewels advises buying jewellery from trusted jewellers. "It's safer to buy BIS-hallmarked jewellery and a certified diamond than substandard jewellery which have no resale value," Dholakia said.
Adulteration is more likely to happen at smaller jewellers, avers Mehul Choksi, chairman of Gitanjali Gems.
Alloys like zinc, copper and silver are mainly used in India to adulterate gold, which is a very soft and malleable metal that can't be moulded easily. Iridium and cadmium are other harmful alloys that are at times mixed with gold.
A jeweller has to maintain 22 carat gold standard to sell it as standardised gold. Carat measures the purity of gold alloys and is the measure for a diamond's weight too. Indians prefer more of 22 carat gold jewellery whereas abroad, 12-18 carat is more popular. "Every jeweller has its own equation of making gold jewellery as long as he sells a BIS hallmarked one," said Dholakia.
Zinc is used in gold to give a greenish tint, while copper is used to give a darker shade. Silver is used for whitish tone, while iridium and cadmium are usually mixed during the welding process to make bangles or join some parts of gold.
"Adulteration in gold continues across India, especially among small jewellers. Jewellery with gold mixed with cadmium can be hazardous on skin compared with iridium," said Sandeep Kulhalli, vice president, retail & marketing at Tanishq, the Tata Group chain.
Not just wearers, such metals have ill effects on those who are manufacture jewellery too, they are environment-unfriendly too. They cause skin and lung problems, said Jatia.
The best way to avoid all the hassles is to invest in gold exchange traded funds, where you own 'paper gold'. There's no risk of adulteration, no risk of theft or loss, said experts.
After suffering huge losses following the crash, jewellers are likely to adulterate your yellow metal
Jewellers and traders have been caught at the wrong end of the stick after a stunning plunge in the prices of gold and silver over the last few days caused heavy losses.
"Their losses will be in crores, depending on how much their trade exposure was. Generally, 30% of gold trade in India pertains to hedging of positions, but many a time greed overtakes (which spur one-sided bets), which leads to heavy losses," says Vedant Jatia, director (sales) at Indian Institute of Jewellery.
Jewellers had anticipated prices to rise so they had stocked up on the metal for the festive season. But, to their utter shock, prices went the other way. The misery was compounded due to leverage, which eroded their capital in no time.
Traders so far had to pay margin money of just 5% to take positions in gold and 6% in silver. Meaning, if they wanted to bet Rs100 on the way gold prices will swing, traders had to pay only Rs 5. So, while a 5% rise in the price of gold doubled money (Rs 5 invested, Rs 5 gained), a similar swing the other way obliterated capital.
Due to huge volatility in the last couple of days, commodity exchanges like MCX increased the margin requirements to nearly 9% for gold and trebled it to 18% on silver.
Meaning, as prices continued to fall from last week, traders had to either book losses or pay more margins to keep their positions. This forced many to cancel trades and book losses.
To recoup losses, jewellers may be tempted to adulterate gold with other alloys which add weight and colour, experts warn. "One should avoid buying non-standardised gold for investment because it may be dubious in purity and so you'll lose on resale value. Zinc and copper being the cheapest alloys, there are chances small jewellers may try to adulterate using that," said Jatiya.
Ghanshyam Dholakia, director, KK Jewels advises buying jewellery from trusted jewellers. "It's safer to buy BIS-hallmarked jewellery and a certified diamond than substandard jewellery which have no resale value," Dholakia said.
Adulteration is more likely to happen at smaller jewellers, avers Mehul Choksi, chairman of Gitanjali Gems.
Alloys like zinc, copper and silver are mainly used in India to adulterate gold, which is a very soft and malleable metal that can't be moulded easily. Iridium and cadmium are other harmful alloys that are at times mixed with gold.
A jeweller has to maintain 22 carat gold standard to sell it as standardised gold. Carat measures the purity of gold alloys and is the measure for a diamond's weight too. Indians prefer more of 22 carat gold jewellery whereas abroad, 12-18 carat is more popular. "Every jeweller has its own equation of making gold jewellery as long as he sells a BIS hallmarked one," said Dholakia.
Zinc is used in gold to give a greenish tint, while copper is used to give a darker shade. Silver is used for whitish tone, while iridium and cadmium are usually mixed during the welding process to make bangles or join some parts of gold.
"Adulteration in gold continues across India, especially among small jewellers. Jewellery with gold mixed with cadmium can be hazardous on skin compared with iridium," said Sandeep Kulhalli, vice president, retail & marketing at Tanishq, the Tata Group chain.
Not just wearers, such metals have ill effects on those who are manufacture jewellery too, they are environment-unfriendly too. They cause skin and lung problems, said Jatia.
The best way to avoid all the hassles is to invest in gold exchange traded funds, where you own 'paper gold'. There's no risk of adulteration, no risk of theft or loss, said experts.
Saturday, September 24, 2011
Quries and answers on car purchase
I have a 2006 Esteem, fitted
with Lovato CNG. My questions
are, have I done the correct
thing by fitting the kit
considering it’s a 2006 model and is Lovato
a good quality kit to recommend to others?
I drive 70 km daily in Mumbai city and get
16-17 km per kg. Is that a good average? Also,
some old CNG users advise that every morning
first I must run the car on petrol for 3-5
km and then switch over to CNG to prolong
engine life. Is this correct? Do advise. — Vijay
Dube, by email
It would have been better if you had your
car converted early on and reaped the benefits
that much longer. And Lovato is one of the
better CNG kits around. As for the last part of
your question, it isn’t the amount of driving
you do on petrol that matters. The important
thing is that you purge all the CNG from the
fuel lines before turning off the car, and allow
the engine to warm up a bit before switching
over to CNG in the mornings.
I am using a Suzuki SX4 since the last 7
months. It’s in good condition, and has done
8,500 km. I wish to go for the Nissan Sunny.
Should I buy or should I continue to use
the SX4 for some more time?
— Manubhai Patel, by email
Your car is still fairly new and selling it now
would mean a hard hit due to depreciation. We
suggest you enjoy the SX4 for a while longer
and then see if you still want to exchange.
Which is a better option - the Indica Vista,
Maruti Swift or the Ford Figo? Also, is a TDI
engine better than the Safire in terms of
maintenance? — Ranjan Shah, by email
If you can afford it, the Swift is the best of
the lot. And as for maintenance, there isn’t a
huge difference between the two. If regular
maintenance is done, they last a long time.
I have decided on buying a petrol variant
of the Ford Figo Titanium. My weekly
running would be around 30 km, with an
occasional long drive once a month. However,
I am confused between the petrol and
diesel variants. Many are advising me to buy
the diesel though my running would be less.
Please advise. Also, will converting to CNG
be the best option?
— Pravin Dabhade, Navi Mumbai
Your usage can’t justify the extra cost of a
diesel car. It will make sense only if you expect
to use the car a lot more in future. Same
is the case with CNG conversion.
I am planning to buy my first car for our
family of 4, and my budget is `3.5 lakh. It’ll
be just for weekend use in the city, say 20
km per week. I want to go for the Suzuki
Alto K10, though the Hyundai Santro is also
on my mind. Is the Alto a good bet?
— Deepak Zaveri
Definitely. The Alto K10 is tried and tested,
it will suit your needs well. It’s low on maintenance
and easy to use. Happy driving!
Do manufacturers customise cars? I am
a right-leg amputee and am looking for
someone to do alterations. Also tell me what
will be the price range for automatic transmission
cars and which are these.
—Ramachandra K Shetti, by email
Carmakers do not offer modifications, but
there are garages that will help. Using an automatic
car will make sense. Depending on
your budget, you can pick from the automatic
versions of Maruti Suzuki A-Star, Hyundai
i10, Honda City and Skoda Laura.
I bought a a pre-owned Maruti Swift LXi
petrol 2007 September model for `3.22 lakh.
The car is in extremely good condition. Will
it be feasible to convert it to LPG or CNG? I
don’t use it daily, but on weekends I clock
around 100 km. But from next month, I will
drive 30 km a day. — Sanjay Mahajan
CNG/LPG conversion would be worth it if
you foresee further increase in your daily usage.
The price you paid seems fair for a car in
good condition. While cheaper deals can be
found, the hassle-free experience is worth it.
I am fed up with my 2007 Mahindra Logan
1.6GLS. Suggest me a sedan in the range
of `7-8 lakh with a peppy drive and superb
pick-up. — Suresh Karnik, by email
Honda City is prefect for you, but you will
have to stretch your budget a little though. An
alternative, if you’re willing to go for a secondhand
car, is the old Ford Fiesta 1.6 S.
I am planning to buy my first car. My
budget is `4-6 lakh. Am confused between
the i10 Asta, Swift new VXI, Volkswagen
Polo Comfortline or Skoda Fabia Ambience.
My use will be during the weekends and the
car is for family of 5.
— Nirav Shah
For a family of 5, I suggest
the new Swift, as the
other cars you listed feel a
little cramped on the inside
compared to the new
Swift.
with Lovato CNG. My questions
are, have I done the correct
thing by fitting the kit
considering it’s a 2006 model and is Lovato
a good quality kit to recommend to others?
I drive 70 km daily in Mumbai city and get
16-17 km per kg. Is that a good average? Also,
some old CNG users advise that every morning
first I must run the car on petrol for 3-5
km and then switch over to CNG to prolong
engine life. Is this correct? Do advise. — Vijay
Dube, by email
It would have been better if you had your
car converted early on and reaped the benefits
that much longer. And Lovato is one of the
better CNG kits around. As for the last part of
your question, it isn’t the amount of driving
you do on petrol that matters. The important
thing is that you purge all the CNG from the
fuel lines before turning off the car, and allow
the engine to warm up a bit before switching
over to CNG in the mornings.
I am using a Suzuki SX4 since the last 7
months. It’s in good condition, and has done
8,500 km. I wish to go for the Nissan Sunny.
Should I buy or should I continue to use
the SX4 for some more time?
— Manubhai Patel, by email
Your car is still fairly new and selling it now
would mean a hard hit due to depreciation. We
suggest you enjoy the SX4 for a while longer
and then see if you still want to exchange.
Which is a better option - the Indica Vista,
Maruti Swift or the Ford Figo? Also, is a TDI
engine better than the Safire in terms of
maintenance? — Ranjan Shah, by email
If you can afford it, the Swift is the best of
the lot. And as for maintenance, there isn’t a
huge difference between the two. If regular
maintenance is done, they last a long time.
I have decided on buying a petrol variant
of the Ford Figo Titanium. My weekly
running would be around 30 km, with an
occasional long drive once a month. However,
I am confused between the petrol and
diesel variants. Many are advising me to buy
the diesel though my running would be less.
Please advise. Also, will converting to CNG
be the best option?
— Pravin Dabhade, Navi Mumbai
Your usage can’t justify the extra cost of a
diesel car. It will make sense only if you expect
to use the car a lot more in future. Same
is the case with CNG conversion.
I am planning to buy my first car for our
family of 4, and my budget is `3.5 lakh. It’ll
be just for weekend use in the city, say 20
km per week. I want to go for the Suzuki
Alto K10, though the Hyundai Santro is also
on my mind. Is the Alto a good bet?
— Deepak Zaveri
Definitely. The Alto K10 is tried and tested,
it will suit your needs well. It’s low on maintenance
and easy to use. Happy driving!
Do manufacturers customise cars? I am
a right-leg amputee and am looking for
someone to do alterations. Also tell me what
will be the price range for automatic transmission
cars and which are these.
—Ramachandra K Shetti, by email
Carmakers do not offer modifications, but
there are garages that will help. Using an automatic
car will make sense. Depending on
your budget, you can pick from the automatic
versions of Maruti Suzuki A-Star, Hyundai
i10, Honda City and Skoda Laura.
I bought a a pre-owned Maruti Swift LXi
petrol 2007 September model for `3.22 lakh.
The car is in extremely good condition. Will
it be feasible to convert it to LPG or CNG? I
don’t use it daily, but on weekends I clock
around 100 km. But from next month, I will
drive 30 km a day. — Sanjay Mahajan
CNG/LPG conversion would be worth it if
you foresee further increase in your daily usage.
The price you paid seems fair for a car in
good condition. While cheaper deals can be
found, the hassle-free experience is worth it.
I am fed up with my 2007 Mahindra Logan
1.6GLS. Suggest me a sedan in the range
of `7-8 lakh with a peppy drive and superb
pick-up. — Suresh Karnik, by email
Honda City is prefect for you, but you will
have to stretch your budget a little though. An
alternative, if you’re willing to go for a secondhand
car, is the old Ford Fiesta 1.6 S.
I am planning to buy my first car. My
budget is `4-6 lakh. Am confused between
the i10 Asta, Swift new VXI, Volkswagen
Polo Comfortline or Skoda Fabia Ambience.
My use will be during the weekends and the
car is for family of 5.
— Nirav Shah
For a family of 5, I suggest
the new Swift, as the
other cars you listed feel a
little cramped on the inside
compared to the new
Swift.
Chevrolet Captiva
Costly, costlier..
New Captiva ahead
The Chevrolet Captiva is undergoing
some big changes in its fascia. The
next avatar will sport an aggressive
oversized grille. The overall look,
which includes restyled head lamps,
reminds one of the Mitsubishi
Outlander, said Autocar India. The
updated Captiva will sport a new
184bhp, 2.2-litre motor and will hit the
roads somewhere in January next
The gap between cost of ownership of diesel and petrol cars have widened to 15%, making diesel cars more attractive. The cost of ownership of a petrol car is up 3.1% due to the recent `3 per litre hike. That's about Rs 468 a month, said Umesh Karne and Sagar Thakker of Brics Securities in an analysis. In the last 9 months, the cost of ownership of a petrol car is up nearly 1,900 per month, they said.
 |
| Chevrolet Captiva |
New Captiva ahead
The Chevrolet Captiva is undergoing
some big changes in its fascia. The
next avatar will sport an aggressive
oversized grille. The overall look,
which includes restyled head lamps,
reminds one of the Mitsubishi
Outlander, said Autocar India. The
updated Captiva will sport a new
184bhp, 2.2-litre motor and will hit the
roads somewhere in January next
The gap between cost of ownership of diesel and petrol cars have widened to 15%, making diesel cars more attractive. The cost of ownership of a petrol car is up 3.1% due to the recent `3 per litre hike. That's about Rs 468 a month, said Umesh Karne and Sagar Thakker of Brics Securities in an analysis. In the last 9 months, the cost of ownership of a petrol car is up nearly 1,900 per month, they said.
Review of Audi A6, has unleashed its latest saloon, which ispractically a work of art.
Awesome A6
Audi has unleashed its latest saloon, which ispractically a work of art.
The seventh-generation Audi A6, which made its debut way back in 1968 — when it was called the 100 — is an absolute class act. Some prefer to call it the fourth generation, if you count from 1995.
The latest A6 has a very sporty stance due to its disproportionately low height, exaggerated bonnet, a sweeping roofline and a tornado line tracing the flanks — all classic Audi.
Light weight and intuitive technology gives it more bang for the buck compared with the Mercedes E Class and the BMW 5 Series.
A composite design, liberal use of aluminium and high-techology steel has reduced the weight of the car by up to 80 kgs compared with the sixth iteration, but it's 11 cms smaller. Not surprisingly, performance, mileage and riding comfort are topdraw.
The headlighting system is stuff of pure sci-fi fantasy. The A6 has an LED lights cluster — 24 white ones for daytime running, and a set of blue LEDs emit yellow — yes yellow — beams for turn signals. Uber cool. If that doesn't blow you away, there's also a dynamic cornering light, a static cornering light and variable headlight — essentially Xenon. A small video camera in the base of the interior mirror detects ambient light and of other vehicles. The system then adapts the A6's own headlights by swiveling the xenon modules. It's like automatic switching between low and high beams!
Interior
They are as lavishly appointed as they come, with all the bells & whistles. Rich leather and curves and angles bare the maker's a great eye for detail. The dash, with wraparound blades and woody trims look luxurious. The front seats can be adjusted ten ways. All seats have plenty of headroom, elbow room, legroom, and footroom — more than the previous iteration.
The head airbag system opens like a curtain extending from the A-pillar to the C-pillar, while side air bags and stiff lateral seats make it safer in case of side impact collision.
The A6 has a lot of sci-fi technology. Push the start-stop engine button, and a 6.5-inch LCD screen deploys from the centre of the dashboard, offering options of entertainment, navigation (disabled in India, sadly), and parking assist, among others. The multimedia interface and a plethora of info on the odo and tacho are user-friendly. The central console houses a rotary knob, like the BMW's iDrive, and there's the multimedia interface touchpad to the right of the gear lever, which can transform into an area containing six radio station buttons.
All the gizmos are arranged in an intuitive, easy-to-master way. For utility, there is a huge 530-litre boot with a massive 1050 mm mouth. If that's not enough, the rear seat can be folded 60:40.
Performance
The engine's super-smooth and super silent and very torquey. Audi claims it's economical too, because the 4-pot 2 litre diesel weighs in at just 1,575 kg compared with the 520d Bimmer's 1,695 kg.
The Audi A6 2.0 TDI and 2.8 FSI are outfitted with front-wheel drive as standard, while the 3.0 TFSI petrol, which we tested, and the 3.0 TDI are paired with permanent all-wheel quattro drive..
There's a hell of lot of power delivered in the TDI engine's midrange — you can cruise at 100 kms at just 1800 revs. The car literally glides over potholes and bumps, underscoring great body control. The electromechanical steering is very light and accurate. What stands out is the noise suppression that's perhaps the best seen in a car of its size. The engine's barely audible at 100 kmph.
The air suspension with electronically controlled damping kept the ride smooth on Mumbai's cratered roads. The suspension adjusts the car's height automatically based on driving speed and whims of the person at the wheel. In automatic mode, the body is lowered 20 millimeters once the A6 stays past 120 kmph for 30 seconds. Cool or what? Guess it's all about Vorsprung durch Technik.
Audi has unleashed its latest saloon, which ispractically a work of art.
The seventh-generation Audi A6, which made its debut way back in 1968 — when it was called the 100 — is an absolute class act. Some prefer to call it the fourth generation, if you count from 1995.
The latest A6 has a very sporty stance due to its disproportionately low height, exaggerated bonnet, a sweeping roofline and a tornado line tracing the flanks — all classic Audi.
Light weight and intuitive technology gives it more bang for the buck compared with the Mercedes E Class and the BMW 5 Series.
A composite design, liberal use of aluminium and high-techology steel has reduced the weight of the car by up to 80 kgs compared with the sixth iteration, but it's 11 cms smaller. Not surprisingly, performance, mileage and riding comfort are topdraw.
The headlighting system is stuff of pure sci-fi fantasy. The A6 has an LED lights cluster — 24 white ones for daytime running, and a set of blue LEDs emit yellow — yes yellow — beams for turn signals. Uber cool. If that doesn't blow you away, there's also a dynamic cornering light, a static cornering light and variable headlight — essentially Xenon. A small video camera in the base of the interior mirror detects ambient light and of other vehicles. The system then adapts the A6's own headlights by swiveling the xenon modules. It's like automatic switching between low and high beams!
Interior
They are as lavishly appointed as they come, with all the bells & whistles. Rich leather and curves and angles bare the maker's a great eye for detail. The dash, with wraparound blades and woody trims look luxurious. The front seats can be adjusted ten ways. All seats have plenty of headroom, elbow room, legroom, and footroom — more than the previous iteration.
The head airbag system opens like a curtain extending from the A-pillar to the C-pillar, while side air bags and stiff lateral seats make it safer in case of side impact collision.
The A6 has a lot of sci-fi technology. Push the start-stop engine button, and a 6.5-inch LCD screen deploys from the centre of the dashboard, offering options of entertainment, navigation (disabled in India, sadly), and parking assist, among others. The multimedia interface and a plethora of info on the odo and tacho are user-friendly. The central console houses a rotary knob, like the BMW's iDrive, and there's the multimedia interface touchpad to the right of the gear lever, which can transform into an area containing six radio station buttons.
All the gizmos are arranged in an intuitive, easy-to-master way. For utility, there is a huge 530-litre boot with a massive 1050 mm mouth. If that's not enough, the rear seat can be folded 60:40.
Performance
The engine's super-smooth and super silent and very torquey. Audi claims it's economical too, because the 4-pot 2 litre diesel weighs in at just 1,575 kg compared with the 520d Bimmer's 1,695 kg.
The Audi A6 2.0 TDI and 2.8 FSI are outfitted with front-wheel drive as standard, while the 3.0 TFSI petrol, which we tested, and the 3.0 TDI are paired with permanent all-wheel quattro drive..
There's a hell of lot of power delivered in the TDI engine's midrange — you can cruise at 100 kms at just 1800 revs. The car literally glides over potholes and bumps, underscoring great body control. The electromechanical steering is very light and accurate. What stands out is the noise suppression that's perhaps the best seen in a car of its size. The engine's barely audible at 100 kmph.
The air suspension with electronically controlled damping kept the ride smooth on Mumbai's cratered roads. The suspension adjusts the car's height automatically based on driving speed and whims of the person at the wheel. In automatic mode, the body is lowered 20 millimeters once the A6 stays past 120 kmph for 30 seconds. Cool or what? Guess it's all about Vorsprung durch Technik.
Review of Car Nissan Sunny sedan
Sunny side up
I don't remember how I got there, but I do know that I was at the gates of the Nissan - Renault factory in Oragadam near Chennai. I got up at 4 am to go to the airport, so, naturally, I've slept on the way to the airport, on the plane and on the way to the factory near Chennai. But all that sleep disappeared once I caught a glimpse of the massive facility that was now standing in front of me. After completing all the formalities and finally entering the factory, I was greeted by a sight to behold, a sea of cars representing every single model being produced there. I knew that I'd be taking one of those cars for a short spin today, and that car turned out to be a steel gray Nissan Sunny sedan.
Design
I was greeted by a gaping grille with a thick chrome outline and two sweeping headlamps that led me to the front door handle. I took the Sunny up on that invitation and reached for the door, only to find out that the key was no where in sight. As I waited for the key to be delivered, I took a quick walk-around of the car and came away pleasantly surprised. The character line that leads to the rear of the car ends at the tail lamps. When looked at from the side give an impression that the rear is lower than the front of the car, usually referred to as the droopy-butt syndrome, but when looked at from the rear, the effect is not quite so pronounced. The Sunny sedan is based on the Nissan V platform and as such is basically the Nissan Tiida with a boot attached to it, but unlike the Swift Dzire, the integration of the boot was done seamlessly to give it proper sedan proportions. The 15-inch multi-spoke alloys on the XV (14-inch steel wheels on the XE and XL variants) round out the exterior package.
Interior
Finally, the keys have arrived and I'm allowed entry into the car. The XV comes with the same keyless entry and push-button start system as the Micra, while the lower variants make do with a traditional metal key. The cabin is light and airy thanks to the choice of interior colours and large greenhouse. The driver's seat and steering wheel are adjustable for height and finding a good driving position is fairly easy to do. The rear bench looks to be designed to seat only two although a third lap belt is present. Rear legroom is simply fantastic.
One particularly nifty feature is the addition of a rear blower — not an AC vent — that sucks cold air from the front of the cabin and blows it to the backseat. The front arm-rest contains the blower assembly which takes the cold air coming from the AC vents in the front and pushes the air towards the rear of the car. That's brilliant, frugal engineering.
Driver airbags and ABS are standard on all models, while the XL and XV models get passenger airbags too. The top spec version also comes with steering mounted controls for the stock audio system.
Performance
Performance is quite peppy. The 1.5 litre DOHC mill makes 98 bhp @ 6000 rpm and 134 NM of peak torque and that's more than enough to propel the 1027 kg top spec Sunny XV . Below 2000 rpm, the engine seems a bit sluggish to respond, but once past that, it picks up pace well. A quick downshift on the 5-speed gearbox might be required to execute a passing maneuver properly though. Cruising is comfortable and effortless, but the inclusion of a dead-pedal might have made it more so.
Stopping is a whole different story, however. The pedal travel is not progressive, the first few mm of travel gets you a weak initial bite, but suddenly, they become too grabby within a few mm of travel, making the driver seem like an amateur. Braking over undulations makes the car feel squirmy, as it tries to follow every rut on the road. Electronic aids in the form of ABS, electronic brake-force distribution (EBD) and brake assist (BA) are present to bring you safely to a halt, but how it gets there is not all that confidence inspiring.
Ride and handling
Ride quality is good, with the suspension soaking up all but the biggest of bumps. At slow speeds, the suspension reacts nicely to bumps in the road, and retains good body control as the speeds increase. Ground clearance is good too, but the chassis managed to find something to scrape itself on, which, considering the post-monsoon roads is not all that surprising. Rear seat comfort is fantastic for its class, provided you're not the one stuck in the centre seat. With an average sized driver, the legroom available to the rear passengers is unbelievable. The only thing that takes away from this comfort is the intrusion of wind and tyre noise at higher speeds.
Handling is quite neutral, with the car tending towards understeer as it nears its limits of adhesion, but that's only on smooth roads. When you throw undulations and ruts into the equation, the story starts to resemble that of the braking. Turn into a corner and all is well, but the moment you encounter a bump, the car seems to forget that for front wheels are connected to the steering wheel!
EPS does its job well, keeping the steering light and effortless at low speeds and weighing it up nicely as the speeds get higher.
Verdict
The Sunny makes for an excellent proposition for a car to be driven around in, with its fantastic rear leg room, the rear blower and supple ride quality. It also makes perfect sense for a family of 4. It's hard to argue with the price of the car too, you're paying Swift Dzire money for what's essentially an SX4 sized car.
For those that rack up the miles on their cars, a diesel version is on the horizon which will come with a dCI diesel engine sometime next year
I don't remember how I got there, but I do know that I was at the gates of the Nissan - Renault factory in Oragadam near Chennai. I got up at 4 am to go to the airport, so, naturally, I've slept on the way to the airport, on the plane and on the way to the factory near Chennai. But all that sleep disappeared once I caught a glimpse of the massive facility that was now standing in front of me. After completing all the formalities and finally entering the factory, I was greeted by a sight to behold, a sea of cars representing every single model being produced there. I knew that I'd be taking one of those cars for a short spin today, and that car turned out to be a steel gray Nissan Sunny sedan.
Design
I was greeted by a gaping grille with a thick chrome outline and two sweeping headlamps that led me to the front door handle. I took the Sunny up on that invitation and reached for the door, only to find out that the key was no where in sight. As I waited for the key to be delivered, I took a quick walk-around of the car and came away pleasantly surprised. The character line that leads to the rear of the car ends at the tail lamps. When looked at from the side give an impression that the rear is lower than the front of the car, usually referred to as the droopy-butt syndrome, but when looked at from the rear, the effect is not quite so pronounced. The Sunny sedan is based on the Nissan V platform and as such is basically the Nissan Tiida with a boot attached to it, but unlike the Swift Dzire, the integration of the boot was done seamlessly to give it proper sedan proportions. The 15-inch multi-spoke alloys on the XV (14-inch steel wheels on the XE and XL variants) round out the exterior package.
Interior
Finally, the keys have arrived and I'm allowed entry into the car. The XV comes with the same keyless entry and push-button start system as the Micra, while the lower variants make do with a traditional metal key. The cabin is light and airy thanks to the choice of interior colours and large greenhouse. The driver's seat and steering wheel are adjustable for height and finding a good driving position is fairly easy to do. The rear bench looks to be designed to seat only two although a third lap belt is present. Rear legroom is simply fantastic.
One particularly nifty feature is the addition of a rear blower — not an AC vent — that sucks cold air from the front of the cabin and blows it to the backseat. The front arm-rest contains the blower assembly which takes the cold air coming from the AC vents in the front and pushes the air towards the rear of the car. That's brilliant, frugal engineering.
Driver airbags and ABS are standard on all models, while the XL and XV models get passenger airbags too. The top spec version also comes with steering mounted controls for the stock audio system.
Performance
Performance is quite peppy. The 1.5 litre DOHC mill makes 98 bhp @ 6000 rpm and 134 NM of peak torque and that's more than enough to propel the 1027 kg top spec Sunny XV . Below 2000 rpm, the engine seems a bit sluggish to respond, but once past that, it picks up pace well. A quick downshift on the 5-speed gearbox might be required to execute a passing maneuver properly though. Cruising is comfortable and effortless, but the inclusion of a dead-pedal might have made it more so.
Stopping is a whole different story, however. The pedal travel is not progressive, the first few mm of travel gets you a weak initial bite, but suddenly, they become too grabby within a few mm of travel, making the driver seem like an amateur. Braking over undulations makes the car feel squirmy, as it tries to follow every rut on the road. Electronic aids in the form of ABS, electronic brake-force distribution (EBD) and brake assist (BA) are present to bring you safely to a halt, but how it gets there is not all that confidence inspiring.
Ride and handling
Ride quality is good, with the suspension soaking up all but the biggest of bumps. At slow speeds, the suspension reacts nicely to bumps in the road, and retains good body control as the speeds increase. Ground clearance is good too, but the chassis managed to find something to scrape itself on, which, considering the post-monsoon roads is not all that surprising. Rear seat comfort is fantastic for its class, provided you're not the one stuck in the centre seat. With an average sized driver, the legroom available to the rear passengers is unbelievable. The only thing that takes away from this comfort is the intrusion of wind and tyre noise at higher speeds.
Handling is quite neutral, with the car tending towards understeer as it nears its limits of adhesion, but that's only on smooth roads. When you throw undulations and ruts into the equation, the story starts to resemble that of the braking. Turn into a corner and all is well, but the moment you encounter a bump, the car seems to forget that for front wheels are connected to the steering wheel!
EPS does its job well, keeping the steering light and effortless at low speeds and weighing it up nicely as the speeds get higher.
Verdict
The Sunny makes for an excellent proposition for a car to be driven around in, with its fantastic rear leg room, the rear blower and supple ride quality. It also makes perfect sense for a family of 4. It's hard to argue with the price of the car too, you're paying Swift Dzire money for what's essentially an SX4 sized car.
For those that rack up the miles on their cars, a diesel version is on the horizon which will come with a dCI diesel engine sometime next year
RBI for additional authentication to cut card frauds
The Reserve Bank of India directed banks to use additional authentication procedures for reducing frauds in credit and debit card transactions.
According to the directives put out by the banking regulator on Thursday, card issuers have to implement the new procedures within two years.
According to the tasks given to banks and card issuers, Aadhar-based biometric authentication procedures can be used for authentication purposes during card transactions. The RBI has asked banks to shift entirely from magnetic stripe cards to chip-based cards and use pin technology extensively.
"The increased usage of credit/debit cards at various delivery channels have witnessed a rise in the frauds taking place due to the cards being lost/stolen, data being compromised and cards skimmed/counterfeited," the central bank said.
The RBI has agreed that banks can take a view on using Aadhar after looking at its progress over the next 18 months.
"The position of Aadhaar-based biometric authentication as a second factor of authentication for card present transactions would be reviewed by end of December 2012," the central bank said.
Banks seem to be happy with the RBI's move. N Srinath, executive director, Bank of Baroda, says most players will now move towards chip-based cards as soon as possible to ensure excellent service to customers.
In March, the RBI had set up a working group with representation from various stake holders to examine these aspects of security and suggest a plan to counter these problems. After the group submitted its report in June this year, the banking regulator has accepted broadly most of its recommendations.
The market's think-tank is glad that the RBI made such a move toward safer transactions. The move, they believe, is one with sound benefits in the longer run. "A primary reason for non-usage of debit cards is security concerns that will be allayed. Debit card usage at POS - which is abysmally low - can take off in a meaningful way," said Saurabh Tripathi, partner and director, Boston Consulting Group.
Though banks agree that the cost involved in issuing chip-based cards will pinch them, they will go ahead and do this as it ensures better services to the customers. "In European countries it is already compulsory to issue chip-based cards. I think this is a cost that banks will have to take," said BA Prabhakar, executive director, Bank of India.
The central bank has, however, clarified that banks are free to migrate to EMV chip and pin-based technology based on their commercial judgement and board decisions.
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