Monday, September 13, 2010

A big challenge for IT employees


SOURCE: VASUDHA VENUGOPAL:The Hindu,CHENNAI, September 13, 2010
An increasing number of IT professionals have been finding it difficult to handle emotional stress, according to experts. An ‘occupational hazard,' the stress related to work needs to be addressed without delay, they emphasise.
“Coping with stress and striving for mental health welfare should be a matter of concern for all and not treated simply as a lifestyle problem of the ‘IT phenomenon',” says Nithya Chandrasekaran, a consultant physician for many IT companies in the city. Post-recession, employees feel pressured to perform well.
Regular occupational problems such as wrist problems due to constant handling of the mouse, slip disc and eye fatigue are common now, but handling stress that arises owing to fear of losing job or to cope with the increasing competition, affects the employee's performance, eventually, taking a major toll on his health, doctors explain.
The project that K. Balajee (29) was handling was pulled off after six months of its inception. Currently managing a team of software professionals working on a crucial database project, the software professional spends nearly 12 hours every day in front of the system to make sure “the demo of my next application is just perfect.”
“As you gain experience in the IT industry, you are endowed with more responsibilities that involve working under stricter deadlines, managing more people from business units across countries, and reworking on millions of lines of code to suit the changing patterns of client requirements,” says Satish Menon, who has been working in the IT industry for 12 years now.
His job ensures a quality lifestyle for his family and holds a lot fascination for onlookers, but the implications on health, especially due to increase in levels of stress, could be serious, he says.
As if to acknowledge the prevalence of high levels of stress among employees, many IT companies have “help hotlines” that provide counselling intervention to their employees who face stress or psychological fatigue. Companies are also trying to help employees combat stress better. Companies such as Infosys, Tata Consultancy Services, Cognizant and Wipro have regular “stress breaks” intended to help the employees strike a healthy balance between work and fun.
Cognizant, as part of an initiative called ‘The Everest,' has a set of people planning ‘adventure travel' for employees. The company also has yoga sessions for interested employees. While companies such as Wipro and TCS have regular ‘family day functions' and ‘workout programmes' for their employees, Infosys has regular ‘green food stalls' on its food courts to encourage healthy eating habits among its work force.
However, some employees feel that most activities tend to prepare them for the stress and not necessarily help prevent it. “These recreational activities engage new recruits and only a few interested individuals,” says Aniket Pradhan, a senior engineer with a leading MNC in Chennai. “What really keeps you going here is your ability to beat stress at work and the rating you get from your managers at the end of the year.”

Mobile bank to cover early village in five years: RBI


SOURCE:PTI:VARANASI, September 13, 2010
Reserve Bank of India Deputy Governor K.C. Chakrabarty has said that there is plan to cover all the villages through mobile banks by 2015.
Every villager would be financially included in the next 5 years, Chakrabarty told reporters on Sunday.
Mobile bank is a facility under which a vehicle authorised by a particular bank with officials reaches a particular village on specified time.
The vehicle with bank official or authorised person provides limited services like deposit or withdrawal to villagers.
RBI has prepared a road map to open a bank branch in the villages where there is appropriate space, he said. It has been decided that all the areas having a population strength of 2000 should get access to banking facility, he said.
In his Budget speech this year, the Finance Minister Pranab Mukherjee had spoken of the decision to provide appropriate banking facilities to habitations having population in excess of 2,000 by March 2012.
Speaking about circulation of fake currency, Chakrabarty said it is an issue related to security and police is being trained to deal with this.
All the banks have been informed about the security features of Rs. 500 notes, he said.

Sensex regains 19,000-level after 33 months; up 328 points



SOURCE : PTI :   MUMBAI, September 13, 2010     
    
Having surged past the psychological 19,000 points level in early trade today, the Bombay Stock Exchange benchmark Sensex was up by over 328 points at mid-session on heavy buying by funds
Having surged past the psychological 19,000 points level in early trade today, the Bombay Stock Exchange benchmark Sensex was up by over 328 points at mid— session on heavy buying by funds enthused by robust industrial output growth amid a firming global trend.
Attaining a level last seen in January, 2008, the Sensex was trading higher by 328.94 points, or 1.70 per cent, at 19,128.60 at 1230 hours. The 30—share BSE index had gained 133 points in the previous session.
Similarly, the broad—based National Stock Exchange index Nifty crossed the 5,700 points level by adding 97 points to 5,737.05.
Stocks of capital goods segment are attracting strong demand after reports that industrial output grew at a faster pace in July.
Bank, refinery and metal stocks are also participating in the rally, amid upbeat investor sentiment about the prospects of the country’s economy recovering at a faster pace.
A firming trend in the Asian region, led by Japan’s Nikkei index, further bolstered the market sentiment here.

Tuition fee: huge fraud - 85,000 fake bank accounts of students amounting to Rs. 95 lakh unearthed

A file photo of Students Federation of India activists staging dharna for scholarship/tuition fee reimbursement in ongole. Photo: Kommuri Srinivas
Source :The Hindu.HYDERABAD, September 4, 2010


Officials have stumbled upon a record number of 85,000 duplicate accounts opened in different banks by students and college managements to receive tuition fee reimbursement and scholarships from the government.
During inspections undertaken to plug the leakages, the officials found to their dismay that many of these accounts existed in the name of student's relatives.
There is a growing suspicion that the college managements may have opened some of them.
The Cabinet sub-committee on tuition fee reimbursement and scholarships disbursement, at a meeting here on Friday, took a serious note of the irregularities and decided to recover the amounts drawn by the college managements through these “fake accounts,” amounting to Rs. 95 lakh. Orders were being issued to the colleges.
The meeting was presided over by Andhra Pradesh Social Welfare Minister P. Subhash Chandra Bose and attended by nine other Ministers -- M. Venkataramana Rao (Technical Education), D. Manikya Varaprasada Rao (Secondary Education), Mohd Syed Ahmadullah (Minorities Welfare ), P. Sudarshan Reddy (Medical Education), Botsa Satyanarayana (Panchayat Raj), N. Raghuveera Reddy (Agriculture), P. Balaraju (Tribal Welfare), M. Mukesh (Backward Classes Welfare) and K. Parthsarathy (Animal Husbandry).
Briefing reporters later, Mr. Bose warned college managements against cancelling admissions of students or harassing them for non-payment of fee on the spot at the counter and affirmed that it would be the government's responsibility to guarantee the confirmed admissions and pay fee.
Mr. Bose said the government had so far released Rs. 1,704 crore against the last year's arrears (Rs. 2,093 crore) of the tuition fee and scholarships. It would not have any difficulty in clearing this year's burden too (Rs. 3,600 crore). 
He admitted that there was delay in clearing the renewals but assured that the amounts would be disbursed as soon as the officials checked the attendance and annual parental income of eligible students which should be 75 per cent and Rs. one lakh respectively.

CONSULTATIONS

On the High Court order that the fee should be paid at the admission stage itself to the colleges in case of the students aided by the government, he said a decision would be taken whether to challenge the order in the Supreme Court after consultations with the advocate-general and the law secretary.

Kerala lottery left unprotected: Hassan


Source :The Hindu:THIRUVANANTHAPURAM, September 3, 2010
M.M. Hassan, Kerala Pradesh Congress Committee spokesperson, on Thursday, said Finance Minister T.M. Thomas Isaac had failed to protect the interests of Kerala lottery in the light of the recent Kerala High Court verdict.
In a statement here on Thursday, Mr. Hassan said the Minister had taken a position supporting the other-State lottery mafia and was functioning as their agent. 
He alleged that the Minister's refusal to order an investigation into their malpractices was because his hands were not clean.
Mr. Hassan said the Opposition had already initiated a debate in the Assembly and the time had come for a public hearing. 
The November 2009 Supreme Court verdict gave full powers to the State government to take action to regulate other-State lottery trade. 
It was only in recent times that the Minister had announced that he would discuss the implications of this verdict with the Advocate-General. 
The State government was criticising the Centre only to help the lottery mafia.

Satyam scam: CBI completes arguments on framing of charges

A file picture of B. Ramalinga Raju, former Chariman of Satyam Computers Ltd on his way to court. Photo: Nagara Gopal.

Source : PTI,& The Hindu,New Delhi,September 13,2010


The CBI, probing the multi-crore accounting scam in Satyam Computers today completed its arguments on the charges to be framed against 10 accused in the case.

CBI’s Special Public Prosecutor K Surendra, who had last week began arguments before the XXI Additional Chief Metropolitan Magistrate (ACCM), sought to frame charges against each accused and presented before the court documents and evidence in support of the charges.

Opposing the discharge petitions of prime accused and former Chairman of Satyam Computers, B Ramalinga Raju, and nine other others, the CBI counsel explained their role in committing the Satyam fraud.

Mr. Surendra argued that the 10 accused, who have been charged with criminal conspiracy, cheating, forgery and falsification of accounts in the agency’s three chargesheets, fabricated records and documents in order to cheat the investors.

Magistrate BVLN Chakravarthi, after hearing the CBI’s arguments, posted the matter to September 15 to enable the defence present its case prior to framing of charges.

The magistrate also asked the CBI counsel to provide a gist copy to the defence on CBI’s allegations.

2G spectrum: Supreme Court issues notices to Centre, Raja

Union Minister for Communications and Information Technology A. Raja outisde the PMO In New Delhi. A bench comprising Justices G. S. Singhvi and A. K. Ganguly sent notices to the Telecom Ministry and Mr. Raja on the 2G spectrum sale issue.


Source : PTI & The Hindu:NEW DELHI, September 13, 2010

The Supreme Court today asked the Centre and Union Telecom Minister A. Raja for a response on a plea seeking the court to monitor a Central Bureau of Investigation probe into alleged irregularities in the 2008 sale of 2G spectrum licences.


A bench comprising Justices G. S. Singhvi and A. K. Ganguly sent notices to the Telecom Ministry and Mr. Raja and asked for replies within 10 days.

The bench also issued notices to the CBI, Enforcement Directorate and Income Tax Department on the petition filed by the Centre for Public Interest Litigation (CPIL), an NGO, and others.

The petitioners challenged the May 25 decision of the Delhi High Court dismissing its plea to monitor the CBI probe into the alleged role of the Union Communications Minister in the sale of 2G spectrum licences in 2008.

Advocate Prashant Bhushan, appearing for CPIL, alleged that despite having documents showing an alleged nexus between Mr. Raja and others, the CBI was not going ahead with the probe in the matter.

The petitioners alleged that the DoT, under the Ministership of Mr. Raja, had given away 2G spectrum to 122 operators at a throwaway price of Rs. 1,658 crore for pan-India licences on a first-come-first-served basis in January, 2008.

Mr. Raja was expected to take the auction route for allotting the 2G licences to telecom service providers, they said

Mercedes India chief puts in his papers



Dr Wilfried Aulbur



















Source : Business Line Bureau,New Delhi, Sept 12,2010

German luxury carmaker Mercedes-Benz India announced on Sunday that its Managing Director and Chief Executive Officer for the last five years, Dr Wilfried Aulbur, will resign by end-2010.
Industry sources said that Dr Aulbur, who is married to Ms Rekha Srinivasan, an Indian, was offered an appointment outside India by Mercedes. However, he has chosen to move outside the Daimler Group in India.

“Dr Aulbur will be successfully completing his fifth year as the MD and CEO of Mercedes-Benz India by the end of 2010. Dr Aulbur will remain with Mercedes-Benz India till a successor is identified to ensure a smooth transition,” said a company statement.

Over the last five years, Mercedes-Benz has grown aggressively in the luxury car segment. During Dr Aulbur's tenure, the company has established its truck and bus business and expanded its research and sourcing operations in India.

Speaking to Business Line, Dr Aulbur said, “A lot of work has been done by Mercedes-Benz in India in the last five years and many further investments are now lined up. My contract was for a longer time and I had options to work abroad, but I've chosen to work in India and pursue other engagements. I will continue till a replacement is found.”

He, however, did not mention where he would join next after completing the year at Mercedes.
Dr Aulbur, who is a German, completed his doctoral and post-doctoral studies in physics in the US. He had earlier worked for Mercedes-Benz India in the early 80s, before re-joining it in 2005 as its chief.

Banks tightening norms for education loans



Rising NPAs prompt closer monitoring.

Closer monitoring
Banks to assess repayment capacity of parent, student before sanction
The Government's unique ID project would help banks keep track of borrowers
Banks would approach Credit Information Bureau India Ltd to update information on such delinquencies, so that future credit to these defaulters could be stopped

Source :Anjana Chandramouly,Business Line :Bangalore, Sept. 12,2010

With non-performing assets (NPAs) in the educational loan portfolio rising, banks are putting in place mechanisms to check delinquencies and also keep track of students.


“We need to assess the repayment capacity of the borrower, which comprises two components — of the parent and of the student himself after he gets employed, which depends upon the course he has selected, the employment potential of the course and the track record of the institution as far as placement is concerned,” Mr H.S. Upendra Kamath, Executive Director, Canara Bank, told Business Line.

The educational loan portfolio stood at Rs 2,976 crore as on June 30, covering 1.71 lakh students. The NPAs in this portfolio are Rs 117 crore, or 3.93 per cent. This portfolio recorded a 29-per-cent growth during the last fiscal from Rs 2,281 crore as on March 31, 2009, to Rs 2,947 crore as on March 31, 2010. Significantly, NPAs in this portfolio have increased about 85 per cent from Rs 61.33 crore to Rs 113.61 crore during this period .

“These factors will hereafter play a major role in sanctioning educational loans, particularly loans up to Rs 4 lakh where there is no security involved,” he said.

Economic factors

The NPAs in the up to Rs 4 lakh category of educational loans stood at 5.5 per cent as on March 31, 2010. NPAs are increasing partly because of the economic conditions in the past two years, he reasoned, adding that things were improving now. “Going forward, we hope that recovery in educational loans will also improve,” said Mr Kamath.

Keeping track of students who keep moving is a big challenge today for the banking fraternity, said Ms Shubhalakshmi Panse, Executive Director, Vijaya Bank. The bank's educational loan portfolio stood at Rs 562 crore as on July 31, 2010, and the NPAs stood at Rs 20 crore or 3.5 per cent. The bank adds about Rs 40 crore every quarter in this quarter, recording a year-on-year growth of about 20 per cent.

Canara Bank has intensified its monitoring mechanism, since “not all overdues arise from genuine problems,” he added. “Current whereabouts of students are to be ascertained with help from colleges and parents”; and wherever these efforts do not yield results, appropriate action would be taken, he pointed out. He added that assistance of colleges will be sought both for tracking the student during the course and also employment details post completion of the course.

Unique ID project

According to Ms Panse, the fraternity was discussing at the Indian Banks' Association level to arrive at a fool-proof method to tackle this challenge. She hoped that the government's unique ID project would help banks keep track of educational loan borrowers, and banks would also approach the Credit Information Bureau India Ltd to update information on such delinquencies, so that future credit to these defaulters could be stopped

Have a smart card, get royal treatment at Canara Bank




Source:Anjana Chandramouly,Business line:Bangalore,13,Sep 2010

Mr Sivakumar, a 57-year-old headmaster, has been banking with Canara Bank for the last three decades. Though he's a valued customer, the century-old bank now hopes to bring his 27-year-old tech-savvy daughter into its fold.

With its new ‘smart' customer relationship management (CRM) initiative targeted at select customers, the bank, with a clientele base of over 37.5 million, is looking to infuse a younger profile into its client mix.

‘Select' customers

‘Select' customers across segments, who the bank feels require special attention, such as professionals and youngsters with time constraints, will soon have bank staff greeting them as they walk into their lobbies to ensure personalised service. The sensors fitted in the branches will alert the staff whenever these customers walk in with chip-based smart cards provided by the bank.

“The minute the customer walks in, his/her details with photo will pop up on the screens of at least three staff in the branch. The staff will receive the customerand make him/her feel important and take care of theneeds,” Mr Jagdish Pai K.L., Executive Director, Canara Bank, told Business Line.

Good response

In fact, the bank had done this on an experimental basis at its Cantonment Branch in Bangalore two years ago.
With good response from customers who enjoyed the service, the bank now plans to launch the service in some of its urban branches across the country.
The bank having achieved 100 per cent CBS (core banking solution), the ‘select' customer could expect such a service at any of the select branches. “The challenge for every bank, post-CBS, is to leverage technology,” said Mr Pai, explaining the timing of the service.

‘Tierisation'


The bank would follow a ‘tierisation' procedure, and this is where a chip card comes in handy. According to him, ‘tierisation' is one way of identifying these young customers, whose expectations from a bank include technology-based products and understanding their requirements.

With public sector banks receiving strong support only from people above 50 years of age, “attracting young people is one of the action points to leverage technology,” he pointed out.
Gen-next branches

In fact, the bank is also in the process of evolving its medium-term business plan, which includes launching products and services sought by the younger generation, said Mr H.S. Upendra Kamath, Executive Director, Canara Bank.

The plan includes setting up of gen-next branches, greater thrust on acquiring young customers — particularly from the IT profession, garnering payroll accounts, generating fee-generating activities, structuring and launching products and services sought by younger generation customers.