Book on Uniform Civil Code - Unveiling

Justice Santosh Hegde today (now) unveiled a book on #UniformCivilCode authored by  #DrShivanandJamdaarIAS at Karnataka Chitrakala Parishath Bangalore

Takeaways:

If only British rulers & later Nehru had shown the same determination on #UCC while enacting laws pertaining to Hindu personal law.

Encouraging Inequality on basis of religion, how correct? Historical basis of unequal practice cannot justify it.

Policies were enacted assuming that Minority sections would always abide by the law. And Majority would violate. Said Ms. SushilaChintamani introducing the Book.

Divisiveness of Indian society would have ended if #UCC was enacted in 1955 itself.

This book of  Dr. Shivanand Jamdaar IAS should be Translated in more languages to reach all Indians.

https://t.co/C0Dh81oVYw

Monsanto and DuPont - Public Perception

Public perception is a curious thing. 

Two companies can do many of the same things, and yet one will take a much larger amount of flack and criticism for it. Or, as the Seattle Organic Restaurants website says, “the difference between a rainforest and a jungle is that a rainforest has a PR agent”. 

To that end, I find it very interesting that Monsanto is one of the most-hated companies on the planet, with the internet and social media full of stories and passed-around memes that declare it to be one of the worst companies in the world. And yet, DuPont is just as big in genetically-modified seeds and agricultural chemicals, and pursues largely the same policies as Monsanto with respect to pricing, IP enforcement, and so on.


So it merits the question – Why is Monsanto evil, but DuPont isn't?



Similar Unpleasant Histories

One of the most commonly-circulated bits on Monsanto in the social media space appears to be a piece that takes Monsanto to task for a long corporate history of developing dangerous products. In prior corporate incarnations, Monsanto did indeed produce Agent Orange, polychlorinated biphenyl (PCBs), DDT, and artificial sweeteners like saccharin and aspartame. While there is still vigorous debate about the safety of artificial sweeteners, nobody disputes that Agent Orange, PCBs, and DDT are bad news.


But let us have a look at DuPont's history.


DuPont started as a virtual monopoly manufacturer of gunpowder, making money hand over fist during the U.S. Civil War and then expanding into various other military explosives. Unlike Alfred Nobel, who felt so guilt-ridden about his invention of dynamite and its subsequent use in warfare that he established the Nobel Prizes, the DuPont family was apparently more interested in arranging marriages between cousins to maintain the family fortune. 


DuPont was also involved in the development of nuclear weapons. Later, DuPont developed synthetic materials like nylon and polyester that will, in many cases, still be on this earth for a long, long time. Likewise, DuPont has had its share of dangerous pesticides, herbicides, and other chemicals include coatings like C8. By the way, DuPont also manufactured Agent Orange, DDT, and PCBs … just like Monsanto did.

The point is, it's difficult to be a large player in the chemicals industry and not eventually produce a dangerous product and/or experience a significant industrial accident. Many of the chemical companies large enough and old enough to be around at the time (including Monsanto, DuPont, and Dow made products like Agent Orange, DDT, PCBs. Likewise, investors and those worried about the environment ought to be at least as worried about the neonicotinoid insecticides made by the likes of crop science companies Bayer and Syngenta  that have been implicated in colony collapse disorder affecting honeybees.

Source- Investopedia.com

Facts about 0% EMI Finance Schemes | InvestmentYogiInvestmentYogi

Facts about 0% EMI Finance Schemes | InvestmentYogiInvestmentYogi:


This festival season you might have decided to upgrade your television set from LCD Flat Screen to LED Smart Television or purchase Samsung Note Book / Apple Iphone / Nokia Lumia replacing your old Android Mobile Handset, etc. Attractive promotional schemes from manufacturing companies and retail stores will roll out in the market from this week as Navratri – the first festival of the season is commencing from 5th Oct, 2013 followed by Dussehra, Diwali and Christmas. When we look at the statistics of last few years, purchase of consumer goods through 0% finance schemes has attracted many customers and sales through this scheme has contributed 20-30% to top-line for retailers in the market. However, before you take a decision to purchase consumer goods and get trapped in some promotional offers we recommend avoid 0% emi finance schemes offered by banks or credit cards because there are some hidden costs and disadvantages attached to it, which we will discuss in this article. Now, RBI has also stepped in from 24th Sep, 2013 to halt 0% finance schemes offered by banks to purchase consumer goods.

Disadvantages of purchasing consumer goods on 0% finance schemes are as follows:

1) Processing and documentation fees

Banks charge one time processing and documentation fees from customers, while purchase on 0% finance schemes. The fees vary from bank to bank, but will be in the range of Rs 500 to Rs 1,000. So, this will be additional cost on products you have purchased.

Take an example, Mr Abhishek opts to purchase 42 inch LED Smart Television Set which costs Rs 60,000 from store. Now, he applies for 0% finance scheme to pay monthly EMI on his purchase. To apply for the EMI schemes, he shells out additional cost of Rs 1,000 against processing and documentation charges. Now, his LED set would cost him for Rs. 61,000 (inclusive of processing charges).

2) Pay interest rates on your purchase

As per information gathered from various retail stores, it can be said that banks are charging hefty interest rates from customers while purchase on these finance schemes with 0% EMI. Interest rates vary for six months and nine months tenor among banks. These interest rates are as follows:

Banks                         6 months tenor     9 months tenor

State Bank of India  4.25%                     6.35%

HDFC Bank               5.2%                        7.25%

ICICI Bank               4%                            6-6.15%

Now, after RBI intervention in the 0 interest finance schemes to purchase consumer goods, banks such as SBI, Axis bank, Kotak Mahindra, etc have already withdrew zero percent facilities.

Taking forward Mr. Abhishek’s example, the cost price of Rs 60,000 for LED will have additional cost of interest expense over it. So, consider if he had opted to purchase LED with 6 months tenor (EMI instalments) from ICICI bank. The interest rate applicable will be 4% on his purchase. Now, EMI for 6 months will be Rs 10,117. So, at the end of 6 EMIs, total amount he pays off is Rs 60,702. So, purchase of RS 60,000 has now led him to pay additional cost Rs 1,702 (Rs 1,000 processing fee + Rs 702 interest cost).

3) Losing out on discount while shopping

Retail stores and shop dealers on roadside offer discount when you opt to purchase through cash or debit card. This discount varies on your negotiation skills and brand of the product you opt to purchase. I did a survey in few retail stores and dealer shops to understand cash discount they are ready to offer if shown interest to book the order immediately and pay full amount by debit card. Retail stores offered me cash discount in the range of 3-5% on purchase of LG, Panasonic, Toshiba, Onida, etc LED sets. On the other hand, dealer shops on roadside offer cash discounts between 5-10% while purchasing similar brands and models from them. But, getting a discount on Sony and Samsung LED’s is a difficult task as they are market leaders and have marginal operating price across all retail / dealer stores in India. However, it’s possible to get a price break or complementary gifts of Rs 2000 to Rs 2,500 on Sony and Samsung LEDs, but require smart negotiation skills to deal with the Store manager / Associates.

Next time, before stepping into a retail store to purchase any consumer good, get a best price for the same product from a nearby dealer store. Then, take a decision to purchase from a store which saves money from your pocket and gives better sales service.

Here, we can say Mr. Abhishek missed an opportunity to save Rs 3,000, assuming 5% cash discount on purchase of Rs 60,000 LED set. Instead, he paid Rs 61,702 for LED costing Rs 60,000 in the market.

Set your preferences before stepping out for shopping consumer goods

There are few questions which you require an answer to, before stepping out to purchase any consumer products in the market. There is a high probability you will be confused with various brands and features in the market. So, take an example of Mr. Abhishek, who decides to purchase LED television set. The points he would discuss with his family / wife will be:
Size of the LED set required to be installed in drawing room
Should we give preference to brand or additional features at best price?
Whether we want to buy from retail store or nearby dealer shop?
Payment option i.e. 0% emi finance scheme or cash (debit card)?
Set a budget price for consumer product you intend to purchase.

Based on a survey at few retail and dealer stores, I would like to share some insights as follows:
Associates at these stores tried to push products which have attractive features and gives them better commission (profit) on sales if you have not decided your preference before stepping out for shopping.
Associate gives demo of branded LEDs like Samsung and Sony on request but makes them inferior in features while compare to other brands like LG, Panasonic, Toshiba, etc. Also, prices of Samsung and Sony are much higher compared to other brands, so consumer easily gets diverted to other known brands while purchasing to get additional features at discounted price compared to branded market leaders. So, here if you have set your preference clearly, you will not fall in the trap of seller while shopping.

Conclusion

Let us calculate in table the total savings Mr. Abhishek will have from purchase of LED on cash with discount.

Particulars      Purchase on 0% finance schemes         Purchase on cash with discount
Cost price of LED (Rs)                 60,000                                             60,000
Add: Processing Fee (Rs)                  1,000                                             0
Add: Interest Payable (Rs)                 702                                                 0
Less: Cash Discount (@5%)                  0                                               3,000
Total Cost (Rs)                   61,702                                                         - 3,000
Total Savings (Rs)                4,702
Additional Expense Incurred (%) 8% (approx.) by opting for 6 months financing scheme


With purchase on cash, Mr. Abhishek has saved Rs 4,702 as computed above. This saving can be utilised for other expenses (shopping) or invest in short term FD to earn cumulative interest. So, for consumer benefit, RBI has also intervened and is now against 0% finance schemes on emi offered by banks at retail / dealer stores. They want shoppers (consumers) to do shopping on debit card/cash and get additional benefit of discount from stores. So, improve your negotiation skills to get the best price for consumer goods of your preference and enjoy your shopping in this festival season….!!!!!

The author has presented his personal views in this article through knowledge and interaction with people at few retail/dealer stores in Mumbai.

About the Author:

Hiral Thanawala is a PGDM (Finance) graduate and Certified Financial Planner with an experience of over 5 years in equity market and personal finance domain. He can be reached at expert@investmentyogi.com
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How to Spot a Liar — HBS Working Knowledge

How to Spot a Liar — HBS Working Knowledge: 

Some excerpts from the article :

KEY FINDINGS: WORD COUNT, PROFANITY, AND PRONOUNS

In terms of strategic cues, the researchers discovered the following:

Bald-faced liars tended to use many more words during the ultimatum game than did truth tellers, presumably in an attempt to win over suspicious receivers. Van Swol dubbed this "the Pinocchio effect." "Just like Pinocchio's nose, the number of words grew along with the lie," she says. 

Allocators who engaged in deception by omission, on the other hand, used fewer words and shorter sentences than truth tellers. 

Among the findings related to nonstrategic cues:

On average, liars used more swear words than did truth tellers—especially in cases where the recipients voiced suspicion about the true amount of the endowment. "We think this may be due to the fact that it takes a lot of cognitive energy to lie," Van Swol says. "Using so much of your brain to lie may make it hard to monitor yourself in other areas." 

Liars used far more third-person pronouns than truth tellers or omitters. "This is a way of distancing themselves from and avoiding ownership of the lie," Van Swol explains. 

Liars spoke in more complex sentences than either omitters or truth tellers. 

The researchers also examined when and whether the receivers trusted the allocators—noting instances when receivers voiced doubts about the allocators' statements, and correlating the various linguistic cues with the accuracy of the receivers' suspicions. They also noted instances in which receivers showed no suspicion toward deceivers.

On average, receivers tended to trust the bald-faced liars far more than they trusted the allocators who tried to deceive by omission. In short, relative silence garnered more suspicion than flat-out falsehoods. "It turns out that omission may be a terrible deception strategy," Van Swol says. "In terms of succeeding at the deception, it was more effective to outright lie. It's a more Machiavellian strategy, but it's more successful."

POSSIBLE APPLICATIONS

In the latest phase of their research, the team is investigating the linguistic differences between lying in person and lying via email. Results regarding the latter may be increasingly useful as a larger portion of business is now being conducted via email, and such communications leave a transcript that can be analyzed carefully—and at leisure—by suspicious counterparts. "People detect lies better over the computer than they do face-to-face," Van Swol says.

That said, the researchers are quick to emphasize that linguistic cues are most definitely not a foolproof method of detecting lies, even among those who are trained to look out for them.

"This is early stage research," Malhotra says. "As with any such work, it would be a mistake to take the findings as gospel and apply them too strictly. Rather, the factors we find to be associated with lies and deception are perhaps most useful as warning signs that should simply prompt greater vigilance and further investigation regarding the veracity of the people with whom we are dealing."

—To learn more about how to deal with liars during business negotiations, read Negotiation Genius: How to Overcome Obstacles and Achieve Brilliant Results at the Bargaining Table and Beyond by Deepak Malhotra and Max H. Bazerman.

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Top 10 Indian bestselling business books of 2011! - From http://trak.in

Top 10 Indian bestselling business books of 2011!:

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A list of the top 10 bestselling books of 2011 in India would typically include the well known names of Chetan Bhagat, Amish and their likes. But a list of bestselling books in the business category is rare. Let’s take a look at the Top 10 business bestselling books in India in 2011, with a few picks from the Business Standard list of the same title.

The Winning Way

By Harsha & Anita Bhogle

A famous sports commentator (who is himself an IIM-A grad) and his IIM-A grad wife join forces to write a book about how businesses can take valuable lessons from sports about winning, loosing, combating and rising above from failure. Interestingly this book also marks 300 training workshops for ‘The Winning Way’ that the Bhogle couple have led.

ISBN - 9789380658322

Buy Now

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Corporate Chanakya

By Radhakrishnan Pillai

The last few years have regenerated an interest in ‘Arthashastra’ written by the great mathematician, administrator and statesman Chanakya. R Pillai has presented his version of the simplification of the sutras, mantras and trade secrets that Chanakya has explained in his original epic. More like a corporate guide, Pillai’s simplified version gives tips on management, leadership and training.

ISBN - 9788184951332

Buy Now

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The Habit of Winning

By Prakash Iyer

Here’s one more IIM-A grad who has jumped on the bandwagon of penning experiences based on his 25 year corporate career in which he sold everything from soaps to diapers. ‘The Habit of Winning’ is a mix about inspirational stories and real life incidents. From the Cola Wars to Michelle Obama’s brand management, these stories aim to inspire you to be a winner in everyday life.

ISBN - 9780143068280

Buy Now

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The TCS Story & Beyond

By Ramadorai

It’s amazing to read a book written by a man who has maneuvered his way through an organization for almost 40 years. From the days of Y2K when TCS expanded its client base to the IPO of TCS in 2004 to the potential merger with Tata Burroughs to the large scale recruitments drives that TCS is now undertaking, Ramadorai narrates a great journey that you ought to be a part of.

ISBN - 9780670084906

Buy Now

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I Have a Dream

By Rashmi Bansal

An MBA graduate from IIM-A herself, Ms. Bansal has already authored two bestselling books on entrepreneurship previously. While her first book talked about MBA graduates who jumped on the entrepreneurship bandwagon, her second book talks about non MBA graduates, her recently launched book ‘I Have a Dream’ talks about 20 idealists who become the change they want to see in the world.

ISBN - 9789380658384

Buy Now

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Unusual People Do Things Differently

By TGC Prasad

This book makes for an amazing read because it collects the success stories of 65 varied and interesting people – from famous people like Azim Premji and Mother Teresa to a common realtor, a CA, an attorney and a sports coach amongst many others. The common denominator that Prasad points out in all these people is their ability to think out of the box and accomplish extraordinary things.

ISBN - 9780143416753

Buy Now

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Uncommon Ground: Dialogues With Business And Social Leaders

By Rohini Nilekani

A philanthropist and a social activist by profession, Nilekani has penned this book based on interactions between business magnates and social leaders. Based on a TV show which she hosted in 2008, the book explores 8 major themes of polarization between business and voluntary social sectors. Capturing rare conversations between industry giants, Nilekani helps her readers realize that social and corporate developments inadvertently go hand in hand.

ISBN - 9780670085620

Buy Now

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Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty

By Abhijit V. Banerjee and Esther Duflo

Co-written by MIT professors, Poor Economics answers questions of whether a billion hungry people really exist or not, why the poor who don’t have enough to eat end up buying a TV, how having more children directly relates to poverty and so on. If you want to learn more about the economics of poverty, pick up this book which is also the winner of the 2011 Financial Times and Goldman Sachs Business Book of the Year Award.

ISBN – 9788184001815

Buy Now

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Thorns To Competition

By Arindam & Rajita Chaudhuri

Although IIPM and its founders have undergone a lot of controversy for their institute offering MBAs, this book remained popular in 2011. With none less than SRK launching this book, the main theme is about the hard selling strategies of modern day marketing. Formulating an acronym for THORN (Target It Right/ Hit Where It Hurts / Obsess With It / Reinvent It / Nail It / Sell It), the book pretty much maintains aggression in marketing as its central theme – sounds familiar to what IIPM is doing, isn’t it?

ISBN – 9788125951940

Buy Now

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Steve Jobs: An Exclusive Biography

By Walter Isaacson

Although this is not an Indian book, it has been a bestseller in India particularly because of the unfortunate death of Jobs, of course. Not much needs to be said about this book except that it is an absolutely stirring narrative of this creative genius. This book sold a little over 14,000 copies in its first week in India, compared with a massive379,000 in the United States.

ISBN - 9781408703748

Buy Now