General Affairs
'It is Advantage BJP,' Says Arun Jaitley on Battle for Bihar
Defence Ministry Nod For Women Fighter Pilots in Indian Air Force
BJP Has 'Modi Oxygen', Will Last Till Popularity Remains, Says Ally Shiv Sena
BJP Releases Video of Nitish Kumar Visiting Tantrik
Indians invest $2 bn in Dubai real estate in H1 2015
Raghuram Rajan says need to check flaws in banking system
Banks free to fix interest rates on Gold Monetisation Scheme, says RBI
Move to penalise telcos for call drops is unlikely to make things better.
Towards A Digital Future
'It is Advantage BJP,' Says Arun Jaitley on Battle for Bihar
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PATNA: In battle for Bihar, Finance Minister Arun Jaitley is addressed a press conference in Patna today. Here the highlights of his media briefing:
- I have no qualms in saying that we have a clear lead in the elections so far "It is advantage BJP"
- In some cases it will be a one-sided sweep
- BJP and its allies will get a clear majority in the elections
- The Centre and Bihar will both benefit from the victory
- We will stabilise administration, bring in good governance and development together from Bihar and the Centre
- The biggest weakness of the current government of the JD(U) is that they did not have any stability in the administration and politics
- Bihar was a "primitive development model"
- A few roads here and a few schools there but it did not go much beyond that
- I have said earlier Bihar has two resources - its agriculture and its human resource
- You bring electricity here, you bring industry here, you bring better higher education here, the JD(U) never thought on those lines
- The youth of this state had to go out both for education and employment
- If anybody is answerable for the poor condition of Bihar it is them (the incumbents).
- The biggest difference the BJP will have is that it will create opportunity
- Sometimes people (in the press) make wrong assumptions, they write friendly stories but friendly media stories don’t win any elections
- And the blessings of some strange people don’t sway the people
- There is a clear belief that this wind will only get stronger in the next phases and we will give Bihar a strong government
- There is a clear belief that this wind will only get stronger in the next phases and we will give Bihar a strong government
- When the JDU changed tried to go beyond building a small school or a Panchayat building, it failed.
- They just failed to create economic opportunities here
- When the situation changes then Tantra-Mantra doesn't help
- We also consult babas but not conspire against our colleagues
- When the prime minster rescheduled his programme because of gap in polls, you said it's panic. When he devotes time you say it is panic
- Just because the media shows some statements by some people, it does not mean it will affect our prospects in Bihar
PATNA: In battle for Bihar, Finance Minister Arun Jaitley is addressed a press conference in Patna today. Here the highlights of his media briefing:
- I have no qualms in saying that we have a clear lead in the elections so far "It is advantage BJP"
- In some cases it will be a one-sided sweep
- BJP and its allies will get a clear majority in the elections
- The Centre and Bihar will both benefit from the victory
- We will stabilise administration, bring in good governance and development together from Bihar and the Centre
- The biggest weakness of the current government of the JD(U) is that they did not have any stability in the administration and politics
- Bihar was a "primitive development model"
- A few roads here and a few schools there but it did not go much beyond that
- I have said earlier Bihar has two resources - its agriculture and its human resource
- You bring electricity here, you bring industry here, you bring better higher education here, the JD(U) never thought on those lines
- The youth of this state had to go out both for education and employment
- If anybody is answerable for the poor condition of Bihar it is them (the incumbents).
- The biggest difference the BJP will have is that it will create opportunity
- Sometimes people (in the press) make wrong assumptions, they write friendly stories but friendly media stories don’t win any elections
- And the blessings of some strange people don’t sway the people
- There is a clear belief that this wind will only get stronger in the next phases and we will give Bihar a strong government
- There is a clear belief that this wind will only get stronger in the next phases and we will give Bihar a strong government
- When the JDU changed tried to go beyond building a small school or a Panchayat building, it failed.
- They just failed to create economic opportunities here
- When the situation changes then Tantra-Mantra doesn't help
- We also consult babas but not conspire against our colleagues
- When the prime minster rescheduled his programme because of gap in polls, you said it's panic. When he devotes time you say it is panic
- Just because the media shows some statements by some people, it does not mean it will affect our prospects in Bihar
Defence Ministry Nod For Women Fighter Pilots in Indian Air Force
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NEW DELHI: Women pilots flying fighter jets of the Indian Air Force will soon be a reality with the Ministry of Defence giving its nod for their induction in combat roles.
"Ministry of Defence approves induction of women into the fighter (combat) stream," Defence Ministry spokesperson Sitanshu Kar said in a tweet today and added that first women fighter pilots would be selected from the batch presently undergoing training at the Air Force Academy.
Earlier this month, on 83rd Air Force Day, Chief Air Chief Marshal Arup Raha had announced that women would soon be inducted as fighter pilots, making IAF the first of the three services to have women in active front-line combat roles.
"This progressive step is in keeping with the aspirations of Indian women and is in line with contemporary trends in armed forces of developed nations," the ministry said in a statement today.
After successful completion of training, the first batch would be commissioned in the fighter stream in June 2016. Thereafter, they would undergo advanced training for one year and would enter a fighter cockpit by June 2017.
With this decision, women have become eligible for induction in all branches and streams of the IAF.
There are around 1,500 women in the Air Force, including 94 pilots and 14 navigators.
In 2010, women in the Army and the Air Force were allowed full term service by the Delhi High Court, which commented that women officers "deserve better from the government."
Last month, women naval officers also scored this milestone, with the High Court saying it would "frown upon any endeavor to block progress of women."
Till five years ago, women military officers were entitled only to a limited service span.
The Ministry of Defence has also taken up a comprehensive review pertaining to induction of women in Armed Forces both in short service commission and permanent commission (SSC & PC) and once finalised more and more branches would be opened up for women.
NEW DELHI: Women pilots flying fighter jets of the Indian Air Force will soon be a reality with the Ministry of Defence giving its nod for their induction in combat roles.
"Ministry of Defence approves induction of women into the fighter (combat) stream," Defence Ministry spokesperson Sitanshu Kar said in a tweet today and added that first women fighter pilots would be selected from the batch presently undergoing training at the Air Force Academy.
Earlier this month, on 83rd Air Force Day, Chief Air Chief Marshal Arup Raha had announced that women would soon be inducted as fighter pilots, making IAF the first of the three services to have women in active front-line combat roles.
"This progressive step is in keeping with the aspirations of Indian women and is in line with contemporary trends in armed forces of developed nations," the ministry said in a statement today.
After successful completion of training, the first batch would be commissioned in the fighter stream in June 2016. Thereafter, they would undergo advanced training for one year and would enter a fighter cockpit by June 2017.
With this decision, women have become eligible for induction in all branches and streams of the IAF.
There are around 1,500 women in the Air Force, including 94 pilots and 14 navigators.
In 2010, women in the Army and the Air Force were allowed full term service by the Delhi High Court, which commented that women officers "deserve better from the government."
Last month, women naval officers also scored this milestone, with the High Court saying it would "frown upon any endeavor to block progress of women."
Till five years ago, women military officers were entitled only to a limited service span.
The Ministry of Defence has also taken up a comprehensive review pertaining to induction of women in Armed Forces both in short service commission and permanent commission (SSC & PC) and once finalised more and more branches would be opened up for women.
"Ministry of Defence approves induction of women into the fighter (combat) stream," Defence Ministry spokesperson Sitanshu Kar said in a tweet today and added that first women fighter pilots would be selected from the batch presently undergoing training at the Air Force Academy.
Earlier this month, on 83rd Air Force Day, Chief Air Chief Marshal Arup Raha had announced that women would soon be inducted as fighter pilots, making IAF the first of the three services to have women in active front-line combat roles.
"This progressive step is in keeping with the aspirations of Indian women and is in line with contemporary trends in armed forces of developed nations," the ministry said in a statement today.
After successful completion of training, the first batch would be commissioned in the fighter stream in June 2016. Thereafter, they would undergo advanced training for one year and would enter a fighter cockpit by June 2017.
With this decision, women have become eligible for induction in all branches and streams of the IAF.
There are around 1,500 women in the Air Force, including 94 pilots and 14 navigators.
In 2010, women in the Army and the Air Force were allowed full term service by the Delhi High Court, which commented that women officers "deserve better from the government."
Last month, women naval officers also scored this milestone, with the High Court saying it would "frown upon any endeavor to block progress of women."
Till five years ago, women military officers were entitled only to a limited service span.
The Ministry of Defence has also taken up a comprehensive review pertaining to induction of women in Armed Forces both in short service commission and permanent commission (SSC & PC) and once finalised more and more branches would be opened up for women.
BJP Has 'Modi Oxygen', Will Last Till Popularity Remains, Says Ally Shiv Sena
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MUMBAI: Taking a jibe at its ruling ally BJP, the Shiv Sena today said the saffron party has received "Modi oxygen" in the form of power, which will last as long as Prime Minister Narendra Modi's popularity among the masses remains intact.
The Uddhav Thackeray-led party also sent a strong message to the Bharatiya Janata Party, saying its successful Dussehra rally indicated that the future belonged to the Sena and that it was prepared to fight the upcoming (poll) battles alone if needed.
"The BJP has received Modi oxygen in the form of power. This oxygen will last till the subsidy of the popularity ends...Sena is standing firm on its thoughts, struggle and patriotism. The party has never changed its stand on the issues of Hindutva, patriotism, Maharashtra's identity and issues concerning common man's life. Our beliefs will not change at any cost," the Sena said in its mouthpiece 'Saamana'.
"Shiv Sena has waged a war against the enemies of the country. The party does not face challenge by anybody," it said adding, people's support will ensure that the Sena's flag flutters over Maharashtra in the future.
"The future belongs only to the Sena and the Dussehra rally of the party has sent this message across to everybody. We will fight it out with whosoever is willing to join us, or else, we are fully prepared to fight it out all alone with the confidence instilled in us by the Sena chief. Nobody should dare block our path!" it said.
The saffron party also hit out at Nationalist Congress Party chief Sharad Pawar apparently over hosting Finance Minister Arun Jaitley in his hometowm Baramati last week.
"With no work left in Delhi, Pawar has opened a new business of lodging and boarding and finding solace in hosting political leaders at Govind Baug in Baramati. With ageing, Pawar's politics is also on the wane," it said.
"Pawar's politics is something that should not be taken seriously. You never know when he becomes secular and when he starts praising BJP," the Sena said.
Taking on the Congress party, it said the Sonia Gandhi-led party has become virtually a non-entity in Maharashtra. "There are no (Congress) leaders, workers and hence no voters."
MUMBAI: Taking a jibe at its ruling ally BJP, the Shiv Sena today said the saffron party has received "Modi oxygen" in the form of power, which will last as long as Prime Minister Narendra Modi's popularity among the masses remains intact.
The Uddhav Thackeray-led party also sent a strong message to the Bharatiya Janata Party, saying its successful Dussehra rally indicated that the future belonged to the Sena and that it was prepared to fight the upcoming (poll) battles alone if needed.
"The BJP has received Modi oxygen in the form of power. This oxygen will last till the subsidy of the popularity ends...Sena is standing firm on its thoughts, struggle and patriotism. The party has never changed its stand on the issues of Hindutva, patriotism, Maharashtra's identity and issues concerning common man's life. Our beliefs will not change at any cost," the Sena said in its mouthpiece 'Saamana'.
"Shiv Sena has waged a war against the enemies of the country. The party does not face challenge by anybody," it said adding, people's support will ensure that the Sena's flag flutters over Maharashtra in the future.
"The future belongs only to the Sena and the Dussehra rally of the party has sent this message across to everybody. We will fight it out with whosoever is willing to join us, or else, we are fully prepared to fight it out all alone with the confidence instilled in us by the Sena chief. Nobody should dare block our path!" it said.
The saffron party also hit out at Nationalist Congress Party chief Sharad Pawar apparently over hosting Finance Minister Arun Jaitley in his hometowm Baramati last week.
"With no work left in Delhi, Pawar has opened a new business of lodging and boarding and finding solace in hosting political leaders at Govind Baug in Baramati. With ageing, Pawar's politics is also on the wane," it said.
"Pawar's politics is something that should not be taken seriously. You never know when he becomes secular and when he starts praising BJP," the Sena said.
Taking on the Congress party, it said the Sonia Gandhi-led party has become virtually a non-entity in Maharashtra. "There are no (Congress) leaders, workers and hence no voters."
The Uddhav Thackeray-led party also sent a strong message to the Bharatiya Janata Party, saying its successful Dussehra rally indicated that the future belonged to the Sena and that it was prepared to fight the upcoming (poll) battles alone if needed.
"Shiv Sena has waged a war against the enemies of the country. The party does not face challenge by anybody," it said adding, people's support will ensure that the Sena's flag flutters over Maharashtra in the future.
"The future belongs only to the Sena and the Dussehra rally of the party has sent this message across to everybody. We will fight it out with whosoever is willing to join us, or else, we are fully prepared to fight it out all alone with the confidence instilled in us by the Sena chief. Nobody should dare block our path!" it said.
The saffron party also hit out at Nationalist Congress Party chief Sharad Pawar apparently over hosting Finance Minister Arun Jaitley in his hometowm Baramati last week.
"With no work left in Delhi, Pawar has opened a new business of lodging and boarding and finding solace in hosting political leaders at Govind Baug in Baramati. With ageing, Pawar's politics is also on the wane," it said.
"Pawar's politics is something that should not be taken seriously. You never know when he becomes secular and when he starts praising BJP," the Sena said.
Taking on the Congress party, it said the Sonia Gandhi-led party has become virtually a non-entity in Maharashtra. "There are no (Congress) leaders, workers and hence no voters."
BJP Releases Video of Nitish Kumar Visiting Tantrik
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A video clip showing Bihar Chief Minister Nitish Kumar visiting a tantrik to seek his blessings was released by the BJP on Saturday.
The video clip was released on social media by senior Bharatiya Janata Party leader and union Minister Giriraj Singh to embarrass Nitish Kumar, the chief ministerial candidate of the grand alliance of JD-U, RJD and Congress ahead of the October 29 polls in the ongoing five-phase elections.
At a time when the political temperature is hotting up ahead of the third phase of the Bihar assembly polls, the BJP leader played a video card against Nitish Kumar, the star campaigner of the grand alliance, which is giving a tough time to the BJP-led National Democratic Alliance.
In Singh's video, the tantrik is seen raising slogans in favour of Nitish Kumar and telling him not to be worried. He is also seen raising slogans against Rashtriya Janata Dal (RJD) chief Lalu Prasad, once the arch rival of Nitish Kumar but now his main political ally in the Bihar polls.
Reacting to the video, Lalu Prasad, the former Bihar chief minister, told media here that he was a bigger tantrik than anyone. "I don't care for such tantrik, I am bigger tantrik than any one."
Neither Nitish Kumar nor any leader of his party was willing to react to the video which has reportedly gone viral on social media.
A senior JD-U leader, on condition of anonymity, told IANS here that the video has once again exposed the BJP's desperation with reports coming that the grand alliance is winning the polls under the leadership of Nitish Kumar.
A video clip showing Bihar Chief Minister Nitish Kumar visiting a tantrik to seek his blessings was released by the BJP on Saturday.
The video clip was released on social media by senior Bharatiya Janata Party leader and union Minister Giriraj Singh to embarrass Nitish Kumar, the chief ministerial candidate of the grand alliance of JD-U, RJD and Congress ahead of the October 29 polls in the ongoing five-phase elections.
At a time when the political temperature is hotting up ahead of the third phase of the Bihar assembly polls, the BJP leader played a video card against Nitish Kumar, the star campaigner of the grand alliance, which is giving a tough time to the BJP-led National Democratic Alliance.
In Singh's video, the tantrik is seen raising slogans in favour of Nitish Kumar and telling him not to be worried. He is also seen raising slogans against Rashtriya Janata Dal (RJD) chief Lalu Prasad, once the arch rival of Nitish Kumar but now his main political ally in the Bihar polls.
Reacting to the video, Lalu Prasad, the former Bihar chief minister, told media here that he was a bigger tantrik than anyone. "I don't care for such tantrik, I am bigger tantrik than any one."
Neither Nitish Kumar nor any leader of his party was willing to react to the video which has reportedly gone viral on social media.
A senior JD-U leader, on condition of anonymity, told IANS here that the video has once again exposed the BJP's desperation with reports coming that the grand alliance is winning the polls under the leadership of Nitish Kumar.
The video clip was released on social media by senior Bharatiya Janata Party leader and union Minister Giriraj Singh to embarrass Nitish Kumar, the chief ministerial candidate of the grand alliance of JD-U, RJD and Congress ahead of the October 29 polls in the ongoing five-phase elections.
At a time when the political temperature is hotting up ahead of the third phase of the Bihar assembly polls, the BJP leader played a video card against Nitish Kumar, the star campaigner of the grand alliance, which is giving a tough time to the BJP-led National Democratic Alliance.
Reacting to the video, Lalu Prasad, the former Bihar chief minister, told media here that he was a bigger tantrik than anyone. "I don't care for such tantrik, I am bigger tantrik than any one."
Neither Nitish Kumar nor any leader of his party was willing to react to the video which has reportedly gone viral on social media.
A senior JD-U leader, on condition of anonymity, told IANS here that the video has once again exposed the BJP's desperation with reports coming that the grand alliance is winning the polls under the leadership of Nitish Kumar.
US Patrols to Raise Stakes With Beijing in Disputed South China Sea
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HONG KONG: US plans to send warships or military aircraft within 12 nautical miles of China's artificial islands in the disputed South China Sea, possibly within days, could open a tense new front in Sino-US rivalry.
A range of security experts said Washington's so-called freedom of navigation patrols would have to be regular to be effective, given Chinese ambitions to project power deep into maritime Southeast Asia and beyond.
But China would likely resist attempts to make such US actions routine, some said, raising the political and military stakes. China's navy could for example try to block or attempt to surround US vessels, they said, risking an escalation.
Given months of debate already in Washington over the first such patrol close to the Chinese outposts since 2012, several regional security experts and former naval officers said the US government might be reluctant to do them often.
US allies such as Japan and Australia are unlikely to follow with their own direct challenges to China, despite their concerns over freedom of navigation along vital trade routes, they added.
"This cannot be a one-off," said Ian Storey, a South China Sea expert at Singapore's Institute of Southeast Asian Studies.
"The US navy will have to conduct these kinds of patrols on a regular basis to reinforce their message."
The Obama administration has said it would test China's territorial claims to the area after months of pressure from Congress and the US military. It has not given a timeframe.
"I think we have been very clear that we intend to do this," State Department spokesman Mark Toner told reporters last Monday.
Chinese Foreign Ministry officials said this month that Beijing would "never allow any country to violate China's territorial waters and airspace in the Spratly islands in the name of protecting navigation and overflight".
Under the UN Convention on the Law of the Sea, 12-nautical mile limits cannot be set around man-made islands built on previously submerged reefs.
Four of the seven reefs China has reclaimed over the last two years were completely submerged at high tide before construction began, legal scholars say.
China claims most of the South China Sea. Other claimants are Vietnam, the Philippines, Malaysia, Brunei and Taiwan.
"No-go zone"
Bonnie Glaser, a security expert at Washington's Center for Strategic and International Studies, said US missions would likely be regular, with the navy wanting to ensure it did not become effectively shut out of the area.
"I know the US does not want that outcome. Nobody wants to give the Chinese a new no-go zone and an effective territorial sea they are not entitled to," she said.
Glaser said she believed China would be careful about interfering with a US patrol, despite past frictions.
Myles Caggins, a spokesman for the White House National Security Council, declined to comment when asked whether a US show of force might be more symbolism than substance unless there was a sustained naval effort, or whether the administration was factoring in further Chinese assertiveness.
He said US thinking was illustrated by President Barack Obama's statement at a news conference with Chinese President Xi Jinping in Washington last month that "the United States will continue to sail, fly and operate anywhere that international law allows".
Despite Xi's comment at the news conference that the man-made islands would not be militarised, some mainland Chinese analysts believe the reclamations will form the heart of a new military screen protecting Chinese submarines on southern Hainan Island, as well as boasting extensive civilian facilities.
These submarines will soon carry nuclear weapons and represent the core of China's nuclear deterrence, giving it a second strike capability.
"Dangerous Escalation"
While China's outposts are seen as vulnerable in a conflict, up until that point they will allow Beijing to extend both civilian activities, such as fishing and oil exploration, as well as military patrols. One airstrip is finished and two others are being built.
Zhang Baohui, a Chinese security expert at Hong Kong's Lingnan University, said he feared a "dangerous escalation", with China likely to react to any attempt to make the patrols routine.
Rather than freedom of navigation, Zhang said he believed Beijing saw the issue as one of great power rivalry.
"It is all about power, and that is what makes this so dangerous," he said.
China had never formally declared a 12-mile territorial zone around the reclamations, so any US show of force was premature, he added.
Sam Bateman, an adviser to Singapore's S. Rajaratnam School of International Studies and a former Australian naval officer, also noted the lack of any formal declaration, adding Washington risked underestimating China's angst over being contained in the South China Sea.
"There is a real risk of a confrontation between China and the US that the US might have to withdraw from," he said, urging more diplomacy instead.
"I'm not sure what their end-game is."
HONG KONG: US plans to send warships or military aircraft within 12 nautical miles of China's artificial islands in the disputed South China Sea, possibly within days, could open a tense new front in Sino-US rivalry.
A range of security experts said Washington's so-called freedom of navigation patrols would have to be regular to be effective, given Chinese ambitions to project power deep into maritime Southeast Asia and beyond.
But China would likely resist attempts to make such US actions routine, some said, raising the political and military stakes. China's navy could for example try to block or attempt to surround US vessels, they said, risking an escalation.
Given months of debate already in Washington over the first such patrol close to the Chinese outposts since 2012, several regional security experts and former naval officers said the US government might be reluctant to do them often.
US allies such as Japan and Australia are unlikely to follow with their own direct challenges to China, despite their concerns over freedom of navigation along vital trade routes, they added.
"This cannot be a one-off," said Ian Storey, a South China Sea expert at Singapore's Institute of Southeast Asian Studies.
"The US navy will have to conduct these kinds of patrols on a regular basis to reinforce their message."
The Obama administration has said it would test China's territorial claims to the area after months of pressure from Congress and the US military. It has not given a timeframe.
"I think we have been very clear that we intend to do this," State Department spokesman Mark Toner told reporters last Monday.
Chinese Foreign Ministry officials said this month that Beijing would "never allow any country to violate China's territorial waters and airspace in the Spratly islands in the name of protecting navigation and overflight".
Under the UN Convention on the Law of the Sea, 12-nautical mile limits cannot be set around man-made islands built on previously submerged reefs.
Four of the seven reefs China has reclaimed over the last two years were completely submerged at high tide before construction began, legal scholars say.
China claims most of the South China Sea. Other claimants are Vietnam, the Philippines, Malaysia, Brunei and Taiwan.
"No-go zone"
Bonnie Glaser, a security expert at Washington's Center for Strategic and International Studies, said US missions would likely be regular, with the navy wanting to ensure it did not become effectively shut out of the area.
"I know the US does not want that outcome. Nobody wants to give the Chinese a new no-go zone and an effective territorial sea they are not entitled to," she said.
Glaser said she believed China would be careful about interfering with a US patrol, despite past frictions.
Myles Caggins, a spokesman for the White House National Security Council, declined to comment when asked whether a US show of force might be more symbolism than substance unless there was a sustained naval effort, or whether the administration was factoring in further Chinese assertiveness.
He said US thinking was illustrated by President Barack Obama's statement at a news conference with Chinese President Xi Jinping in Washington last month that "the United States will continue to sail, fly and operate anywhere that international law allows".
Despite Xi's comment at the news conference that the man-made islands would not be militarised, some mainland Chinese analysts believe the reclamations will form the heart of a new military screen protecting Chinese submarines on southern Hainan Island, as well as boasting extensive civilian facilities.
These submarines will soon carry nuclear weapons and represent the core of China's nuclear deterrence, giving it a second strike capability.
"Dangerous Escalation"
While China's outposts are seen as vulnerable in a conflict, up until that point they will allow Beijing to extend both civilian activities, such as fishing and oil exploration, as well as military patrols. One airstrip is finished and two others are being built.
Zhang Baohui, a Chinese security expert at Hong Kong's Lingnan University, said he feared a "dangerous escalation", with China likely to react to any attempt to make the patrols routine.
Rather than freedom of navigation, Zhang said he believed Beijing saw the issue as one of great power rivalry.
"It is all about power, and that is what makes this so dangerous," he said.
China had never formally declared a 12-mile territorial zone around the reclamations, so any US show of force was premature, he added.
Sam Bateman, an adviser to Singapore's S. Rajaratnam School of International Studies and a former Australian naval officer, also noted the lack of any formal declaration, adding Washington risked underestimating China's angst over being contained in the South China Sea.
"There is a real risk of a confrontation between China and the US that the US might have to withdraw from," he said, urging more diplomacy instead.
"I'm not sure what their end-game is."
A range of security experts said Washington's so-called freedom of navigation patrols would have to be regular to be effective, given Chinese ambitions to project power deep into maritime Southeast Asia and beyond.
But China would likely resist attempts to make such US actions routine, some said, raising the political and military stakes. China's navy could for example try to block or attempt to surround US vessels, they said, risking an escalation.
US allies such as Japan and Australia are unlikely to follow with their own direct challenges to China, despite their concerns over freedom of navigation along vital trade routes, they added.
"This cannot be a one-off," said Ian Storey, a South China Sea expert at Singapore's Institute of Southeast Asian Studies.
"The US navy will have to conduct these kinds of patrols on a regular basis to reinforce their message."
The Obama administration has said it would test China's territorial claims to the area after months of pressure from Congress and the US military. It has not given a timeframe.
"I think we have been very clear that we intend to do this," State Department spokesman Mark Toner told reporters last Monday.
Chinese Foreign Ministry officials said this month that Beijing would "never allow any country to violate China's territorial waters and airspace in the Spratly islands in the name of protecting navigation and overflight".
Under the UN Convention on the Law of the Sea, 12-nautical mile limits cannot be set around man-made islands built on previously submerged reefs.
Four of the seven reefs China has reclaimed over the last two years were completely submerged at high tide before construction began, legal scholars say.
China claims most of the South China Sea. Other claimants are Vietnam, the Philippines, Malaysia, Brunei and Taiwan.
"No-go zone"
Bonnie Glaser, a security expert at Washington's Center for Strategic and International Studies, said US missions would likely be regular, with the navy wanting to ensure it did not become effectively shut out of the area.
"I know the US does not want that outcome. Nobody wants to give the Chinese a new no-go zone and an effective territorial sea they are not entitled to," she said.
Glaser said she believed China would be careful about interfering with a US patrol, despite past frictions.
Myles Caggins, a spokesman for the White House National Security Council, declined to comment when asked whether a US show of force might be more symbolism than substance unless there was a sustained naval effort, or whether the administration was factoring in further Chinese assertiveness.
He said US thinking was illustrated by President Barack Obama's statement at a news conference with Chinese President Xi Jinping in Washington last month that "the United States will continue to sail, fly and operate anywhere that international law allows".
Despite Xi's comment at the news conference that the man-made islands would not be militarised, some mainland Chinese analysts believe the reclamations will form the heart of a new military screen protecting Chinese submarines on southern Hainan Island, as well as boasting extensive civilian facilities.
These submarines will soon carry nuclear weapons and represent the core of China's nuclear deterrence, giving it a second strike capability.
"Dangerous Escalation"
While China's outposts are seen as vulnerable in a conflict, up until that point they will allow Beijing to extend both civilian activities, such as fishing and oil exploration, as well as military patrols. One airstrip is finished and two others are being built.
Zhang Baohui, a Chinese security expert at Hong Kong's Lingnan University, said he feared a "dangerous escalation", with China likely to react to any attempt to make the patrols routine.
Rather than freedom of navigation, Zhang said he believed Beijing saw the issue as one of great power rivalry.
"It is all about power, and that is what makes this so dangerous," he said.
China had never formally declared a 12-mile territorial zone around the reclamations, so any US show of force was premature, he added.
Sam Bateman, an adviser to Singapore's S. Rajaratnam School of International Studies and a former Australian naval officer, also noted the lack of any formal declaration, adding Washington risked underestimating China's angst over being contained in the South China Sea.
"There is a real risk of a confrontation between China and the US that the US might have to withdraw from," he said, urging more diplomacy instead.
"I'm not sure what their end-game is."
Business Affairs
Indians invest $2 bn in Dubai real estate in H1 2015
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According to Dubai government's data, Indians were the most prolific foreign investors in H1 of 2015, with a total of 3,017 transactions worth more than $2 billion, Sumansa Exhibitions President Sunil Jaiswal said.
Sumansa Exhibitions organises property expos. The company is bringing Dubai Property Show to India in November from 6-8 in Mumbai.
The characteristic Indian mindset of solidifying assets in multiple arenas compliments the dynamics of Dubai real estate that offers a number of options to buyers to accommodate their budget and preferences.
Recent trends of purchasing properties in locations such as Downtown Dubai, Dubai Marina, Jumeirah Lake Towers and The Palm also suggest that the buyers are looking at profitable dividends in the shape of rents and resale value, he said.
Jaiswal said going by the data,Indians top the foreign property investment chart, a position they have consistently maintained for several years.
He said the lower property rates in Dubai compared to certain metropolitan cities in India, interest in exploring foreign markerts for a balanced real estate investment portfolio and recent move by RBI allowing investors to send up to $2,50,000 freely overseas to buy property has boosted the sentiment of Indians.
Easy and hassle-free commuting to the country for both business and recreational purposes and no levy of tax on rental income, which means that investors can make free and clear profit on rents are also attracting Indians to invest in Dubai's property market, Jaiswal added.
According to Dubai government's data, Indians were the most prolific foreign investors in H1 of 2015, with a total of 3,017 transactions worth more than $2 billion, Sumansa Exhibitions President Sunil Jaiswal said.
Sumansa Exhibitions organises property expos. The company is bringing Dubai Property Show to India in November from 6-8 in Mumbai.
The characteristic Indian mindset of solidifying assets in multiple arenas compliments the dynamics of Dubai real estate that offers a number of options to buyers to accommodate their budget and preferences.
Recent trends of purchasing properties in locations such as Downtown Dubai, Dubai Marina, Jumeirah Lake Towers and The Palm also suggest that the buyers are looking at profitable dividends in the shape of rents and resale value, he said.
Jaiswal said going by the data,Indians top the foreign property investment chart, a position they have consistently maintained for several years.
He said the lower property rates in Dubai compared to certain metropolitan cities in India, interest in exploring foreign markerts for a balanced real estate investment portfolio and recent move by RBI allowing investors to send up to $2,50,000 freely overseas to buy property has boosted the sentiment of Indians.
Easy and hassle-free commuting to the country for both business and recreational purposes and no levy of tax on rental income, which means that investors can make free and clear profit on rents are also attracting Indians to invest in Dubai's property market, Jaiswal added.
Raghuram Rajan says need to check flaws in banking system
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Reserve Bank Governor Raghuram Rajan said on Friday there is a need to check flaws in the banking system to ensure that defaulters are not let off scot-free.
"We have to check the flaws in banking system where a defaulter can not escape with impunity," Rajan said.
The banking sector is currently struggling with high non-performing assets (NPAs).
Delivering the annual Sardar Vallabhbhai Memorial Lecture at The Sardar Vallabhbhai Patel National Police Academy in Hyderabad, Rajan also called for "focus" in implementation of economic reforms and improving capacity at every level of economy and village and national infrastructure to maintain growth and check inflation.
"Our country is today facing number of challenges regarding implementation of economic reforms and we are putting it back on the right path by certain measures. We need to focus in implementation and improve capacity at every level of the economy. We should concentrate on village infrastructure and national infrastructure as well to keep economic growth and check inflation levels," Rajan said.
He stressed on the role of government spending in reviving growth, especially because exports are not doing as well as in the past.
"There are certain aspects such as macro stability, human capital, business environment, taxation, judiciary and allocating resources that play a key role in boosting our economy. We need to constitute state level co-ordination committees to monitor unregistered and illegal operators with the Chief Secretary, DGP and District Collectors in the committees. Today, the new mantra in the country is transparency at all levels," Rajan was quoted as saying in a statement issued by the Academy, delivering a lecture on 'Reforming India's Economic Institutions'.
Earlier, Rajan paid homage at the Police Martyrs' Memorial.
Reserve Bank Governor Raghuram Rajan said on Friday there is a need to check flaws in the banking system to ensure that defaulters are not let off scot-free.
"We have to check the flaws in banking system where a defaulter can not escape with impunity," Rajan said.
The banking sector is currently struggling with high non-performing assets (NPAs).
Delivering the annual Sardar Vallabhbhai Memorial Lecture at The Sardar Vallabhbhai Patel National Police Academy in Hyderabad, Rajan also called for "focus" in implementation of economic reforms and improving capacity at every level of economy and village and national infrastructure to maintain growth and check inflation.
"Our country is today facing number of challenges regarding implementation of economic reforms and we are putting it back on the right path by certain measures. We need to focus in implementation and improve capacity at every level of the economy. We should concentrate on village infrastructure and national infrastructure as well to keep economic growth and check inflation levels," Rajan said.
He stressed on the role of government spending in reviving growth, especially because exports are not doing as well as in the past.
"There are certain aspects such as macro stability, human capital, business environment, taxation, judiciary and allocating resources that play a key role in boosting our economy. We need to constitute state level co-ordination committees to monitor unregistered and illegal operators with the Chief Secretary, DGP and District Collectors in the committees. Today, the new mantra in the country is transparency at all levels," Rajan was quoted as saying in a statement issued by the Academy, delivering a lecture on 'Reforming India's Economic Institutions'.
Earlier, Rajan paid homage at the Police Martyrs' Memorial.
Banks free to fix interest rates on Gold Monetisation Scheme, says RBI
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Reserve Bank of India on Thursday issued guidelines for the Gold Monetisation Scheme that allow banks to fix their own interest rates on gold deposits.
The RBI notification in this regard comes ahead of the formal launch of the scheme by Prime Minister Narendra Modi on Novermber 5.
The gold deposit scheme is aimed at mobilising a part of an estimated 20,000 tonnes of idle precious metal with households and institutions.
As per the guidelines, banks will be free to set interest rate on such deposit, and principal and interest of the deposit will be denominated in gold.
"Redemption of principal and interest at maturity will, at the option of the depositor be either in Indian Rupee equivalent of the deposited gold and accrued interest based on the price of gold prevailing at the time of redemption, or in gold. The option in this regard shall be made in writing by the depositor at the time of making the deposit and shall be irrevocable," it said.
"The interest will be credited in the deposit accounts on the respective due dates and will be withdrawable periodically or at maturity as per the terms of the deposit," it said.
"The designated banks will accept gold deposits under the Short Term (1-3 years) Bank Deposit (STBD) as well as Medium (5-7 years) and Long (12-15 years) Term Government Deposit Schemes. While the former will be accepted by banks on their own account, the latter will be on behalf of Government of India," it said.
"The short term bank deposits will attract applicable cash reserve ratio (CRR) and statutory liquidity ratio (SLR)," it said.
However, it said, the stock of gold mobilised under the scheme by banks will count towards the general SLR requirement, a move that will provide additional capital to banks for lending towards productive sectors.
The CRR is the portion of the total deposits, which has to be kept with RBI in cash, while SLR is the portion of deposit compulsorily parked in government securities.
Currently, banks have to set aside 4 per cent of the total deposit for CRR while 21.5 per cent for meeting SLR requirement.
"As per the RBI guidelines, there will be provision for premature withdrawal subject to a minimum lock-in period and penalty to be determined by individual banks," it said.
Reserve Bank of India on Thursday issued guidelines for the Gold Monetisation Scheme that allow banks to fix their own interest rates on gold deposits.
The RBI notification in this regard comes ahead of the formal launch of the scheme by Prime Minister Narendra Modi on Novermber 5.
The gold deposit scheme is aimed at mobilising a part of an estimated 20,000 tonnes of idle precious metal with households and institutions.
As per the guidelines, banks will be free to set interest rate on such deposit, and principal and interest of the deposit will be denominated in gold.
"Redemption of principal and interest at maturity will, at the option of the depositor be either in Indian Rupee equivalent of the deposited gold and accrued interest based on the price of gold prevailing at the time of redemption, or in gold. The option in this regard shall be made in writing by the depositor at the time of making the deposit and shall be irrevocable," it said.
"The interest will be credited in the deposit accounts on the respective due dates and will be withdrawable periodically or at maturity as per the terms of the deposit," it said.
"The designated banks will accept gold deposits under the Short Term (1-3 years) Bank Deposit (STBD) as well as Medium (5-7 years) and Long (12-15 years) Term Government Deposit Schemes. While the former will be accepted by banks on their own account, the latter will be on behalf of Government of India," it said.
"The short term bank deposits will attract applicable cash reserve ratio (CRR) and statutory liquidity ratio (SLR)," it said.
However, it said, the stock of gold mobilised under the scheme by banks will count towards the general SLR requirement, a move that will provide additional capital to banks for lending towards productive sectors.
The CRR is the portion of the total deposits, which has to be kept with RBI in cash, while SLR is the portion of deposit compulsorily parked in government securities.
Currently, banks have to set aside 4 per cent of the total deposit for CRR while 21.5 per cent for meeting SLR requirement.
"As per the RBI guidelines, there will be provision for premature withdrawal subject to a minimum lock-in period and penalty to be determined by individual banks," it said.
Move to penalise telcos for call drops is unlikely to make things better.
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The Telecom Regulatory Authority of India (Trai) has asked telecom companies to compensate customers for call drops from January. It has put in place a mechanism under which the companies will have to pay Rs 1 to users per call drop . This will be limited to three dropped calls per day.
The move has unnerved the operators and brought relief to consumers. However, Trai's approach is ad hoc. It is expecting that penalising the companies will force them to shape up. It is finding a solution to the call drop menace by working on symptoms rather than the disease. At the heart of the problem is congestion of telecom networks, and to some extent, shortage of spectrum with operators. For instance, the number of base stations, or BTS, installed by Indian telecom companies is much less compared with countries such as China, Singapore and the UK. As per the Cellular Operators Association of India, or COAI, China Mobile, with a subscriber base of 870 million, has 20 lakh BTS. In India, on an average, a typical telecom operator has 230 million subscribers and two lakh BTS. This means every BTS of China Mobile serves roughly 430 subscribers. For an Indian company, the figure is 1,200. In the UK, Vodafone has 450 subscribers per BTS.
BTS is the antenna on the tower which is responsible for carrying out radio communication between the network and phones. One tower usually has three BTS units. The network congestion is aggravated by the fact that Indians talk more on phone than people in China, the UK and Singapore. In India, the average monthly usage is 494 minutes per subscriber as compared to China Mobile's 429 minutes, Vodafone UK's 194 minutes and Singapore-based Singtel's 279 minutes.
Trai recently pointed out at a two-fold rise in call drops on 2G networks in the past one year. In June-July this year, it conducted drive tests on certain routes of Mumbai and Delhi in which it found out that the call drop rates of most companies were higher than the benchmark (which is 2 per cent).
The simplest way to decongest networks is to put up more towers, especially in densely populated areas. A Deloitte study says the number of mobile towers in India is likely to rise to over five lakh by 2020 from about four lakh at present.
The companies say that installing towers is a challenging task in India. In reply to Trais paper on the compensation proposal, the COAI had said that despite clear Department of Telecom guidelines, state bodies disconnect electricity connection, seal premises and dismantle tower sites without giving prior notice.
The paper also says that in spite of stringent safety norms compared to several other countries, there is a lack of awareness on the electromagnetic field (EMF) radiation issue. In India, a fear of EMF emissions has led to shutdown of cell sites in several public places and residential areas.
Trais stop-gap solution is expected to fall flat unless the key problems are dealt with.
The Telecom Regulatory Authority of India (Trai) has asked telecom companies to compensate customers for call drops from January. It has put in place a mechanism under which the companies will have to pay Rs 1 to users per call drop . This will be limited to three dropped calls per day.
The move has unnerved the operators and brought relief to consumers. However, Trai's approach is ad hoc. It is expecting that penalising the companies will force them to shape up. It is finding a solution to the call drop menace by working on symptoms rather than the disease. At the heart of the problem is congestion of telecom networks, and to some extent, shortage of spectrum with operators. For instance, the number of base stations, or BTS, installed by Indian telecom companies is much less compared with countries such as China, Singapore and the UK. As per the Cellular Operators Association of India, or COAI, China Mobile, with a subscriber base of 870 million, has 20 lakh BTS. In India, on an average, a typical telecom operator has 230 million subscribers and two lakh BTS. This means every BTS of China Mobile serves roughly 430 subscribers. For an Indian company, the figure is 1,200. In the UK, Vodafone has 450 subscribers per BTS.
BTS is the antenna on the tower which is responsible for carrying out radio communication between the network and phones. One tower usually has three BTS units. The network congestion is aggravated by the fact that Indians talk more on phone than people in China, the UK and Singapore. In India, the average monthly usage is 494 minutes per subscriber as compared to China Mobile's 429 minutes, Vodafone UK's 194 minutes and Singapore-based Singtel's 279 minutes.
Trai recently pointed out at a two-fold rise in call drops on 2G networks in the past one year. In June-July this year, it conducted drive tests on certain routes of Mumbai and Delhi in which it found out that the call drop rates of most companies were higher than the benchmark (which is 2 per cent).
The simplest way to decongest networks is to put up more towers, especially in densely populated areas. A Deloitte study says the number of mobile towers in India is likely to rise to over five lakh by 2020 from about four lakh at present.
The companies say that installing towers is a challenging task in India. In reply to Trais paper on the compensation proposal, the COAI had said that despite clear Department of Telecom guidelines, state bodies disconnect electricity connection, seal premises and dismantle tower sites without giving prior notice.
The paper also says that in spite of stringent safety norms compared to several other countries, there is a lack of awareness on the electromagnetic field (EMF) radiation issue. In India, a fear of EMF emissions has led to shutdown of cell sites in several public places and residential areas.
Trais stop-gap solution is expected to fall flat unless the key problems are dealt with.
Towards A Digital Future
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Tata Consultancy Services (TCS) CEO N. Chandrasekaran is a wired elite who has always been as excited about new gadget launches as teenage geeks. In fact, he wears another teenage personality with equal ease - cool and confident in both good and bad times. What sets him apart though is his vision for the company he heads . So, it came as no surprise to journalists when Chandra, as he is referred to by his friends, fended off uncomfortable questions about TCS's lower-than-expected results for the fifth consecutive quarter on October 14, and the subsequent 4 per cent fall in its share price, without a hitch. In fact, the tide soon turned in his favour when he had journalists listening to him about the digital promise TCS holds , going ahead. "At TCS we are in investment mode and, in the coming months, we are going to enhance our digital capabilities," he told Business Today.
TATA CONSULTANCY SERVICES
- RANK 2015: 1
- RANK 2014: 1
- MARKET CAP FY15 APRIL-SEPT: Rs 5,01,476 crore
- TOTAL INCOME: Rs 78,083 crore
- NET PROFIT: Rs 18,750 crore
- ROCE: 41.7%
- SO WHAT: Invincible at No. 1 for past three years. Steadily increasing lead over others
Source: CMIE Prowess, Standalone data
TCS's constant currency revenue grew by just 3.9 per cent in the September quarter against the expected growth of 4.5 per cent. Analysts say the $15.5 billion company's 5.8 per cent revenues growth to Rs 27,166 crore was marginally higher than their expectations. The muted growth, according to Chandra, was, however, not worrying. "The concept of digital has really moved on in the last couple of years from people looking at digital as a set of technologies which enable access on mobile and doing transaction on the mobile or building analytics around data to holistic transformation of businesses," he added.
For the next hour or so, the discussions revolved around the TCS app that enabled SMEs to manage their businesses more efficiently. "If you are a restauranter, you will most likely have a separate tool to take orders, a separate cash-collection system and a swipe machine. We have eliminated all these and created one single application by which you will be able to manage all the aspects of the business, from taking orders, managing transactions and getting a daily report," he explained, adding that TCS is transforming and positioning itself to operate in the digital world and cater to every sector, be it large automobile giants, retailers, banks or small businesses.
This is, however, not the first time that Chandra has talked about going digital. In fact, he has been carefully transforming TCS into a digitally-sound company for over two years and the first step towards achieving that goal was to make his own workforce be digitally-enabled - encouraging them to create an in-house social media platform to build a women safety app. Today, TCS has over 4,000 in-house digital tools that facilitate employee engagement.
In 2014, he had set himself a goal to ensure TCS's digital business becomes a $4 billion entity in five years. Barely a year later, digital has gone past the $2 billion mark and contributes 13.3 per cent to the company's overall revenues. In the last one year alone, over one lakh out of the 3.3 lakh TCS engineers have received training in digital technology. This year, the company plans to hire another 70,000 to add to its digital workforce.
Well-known IT consultant Sid Pai, compliments TCS's digital strategy. "TCS is investing ahead of the curve. It always had a long-term vision and, therefore, retained its position as the most valuable Indian company, says Pai. Even in the September quarter, TCS managed to crack the highest number of deals, compared to its peers in the industry. In the past one year, the market cap of TCS was higher than all the other Tata Group companies put together.
Unlike its peers, such as Cognizant and Accenture, which have also been building their digital business through acquisitions and digital consulting services, TCS, says Sagar Rastogi, Equity Research Analyst at Ambit Capital, hasnt invested in consulting. "TCS has upheld its traditional strategy of offering solutions at the lowest prices. It has invested in creating digital solutions for various industries. These moves have worked in its favour, as it has ensured that it maintains higher margins." In comparison, other Indian IT majors, which have been offering consulting services to various companies, have suffered. This, says, Rastogi, may not necessarily work. "Indian IT companies are not known for their consulting services. They are better known for their solutions," he says.
Digital TCS
Chandra says investment in digital would be on a war-footing, to offer cutting edge digital solutions to its customers and transforming its own work environment. "You go to our various centres now, you will see that we are changing our office environment to become agile spaces. We no longer have cubicles," he says.
The company is also setting up innovation labs and digital studios. Chandra feels digital solutions are no longer restricted to merely creating a functional solution, but is all about creating an experience. "The whole idea is how we get customers to think through the art of the possible; not only from the point of view of business models and business processes, but also in terms of experience by designing solutions which are experience-rich."
For instance, TCS has created an application for a leading global retailer that has enabled the entity to offer better customer-experience. "They have a large consumer base. So, we have built knowledge platforms working closely with them. We help them track every customer that visits their many stores, the nature of the shopping they do and, through analytics, help them predict what they would like to buy the next time they visit the store. Accordingly, we help the retailer to give tailor-made discounts or customised promotional offers to their customers."
{blurb}While a techie creates the apps, Chandra has felt the need to include sociologists and psychologists into his workforce to understand the psyche of consumers or the consumption habits of different communities, where the stores are situated,. "We also have people with artistic ability and design in our workforce. I expect this number of non-techies to increase manifold." Pai, lauds this strategy. "To offer cutting edge technical or digital solutions, one has to understand consumer psyche and human behaviour. Therefore, it makes sense."
With businesses across industries increasingly depending on data to offer real-time services and insights, TCS has invested in 12 real time platforms. Chandra says that while some of them are already producing revenues, some are in the build-out stage. "But over a period of time it will be matured enough to solve problems of different industries."
Analysts feel this over emphasis on digital could backfire. But, Chandrasekaran is confident: "There is so much opportunity. It has got so many elements. The Internet of Things is a big thing in itself, sensor analytics is a big thing, so is data analytics," he explains.
Tata Consultancy Services (TCS) CEO N. Chandrasekaran is a wired elite who has always been as excited about new gadget launches as teenage geeks. In fact, he wears another teenage personality with equal ease - cool and confident in both good and bad times. What sets him apart though is his vision for the company he heads . So, it came as no surprise to journalists when Chandra, as he is referred to by his friends, fended off uncomfortable questions about TCS's lower-than-expected results for the fifth consecutive quarter on October 14, and the subsequent 4 per cent fall in its share price, without a hitch. In fact, the tide soon turned in his favour when he had journalists listening to him about the digital promise TCS holds , going ahead. "At TCS we are in investment mode and, in the coming months, we are going to enhance our digital capabilities," he told Business Today.
TATA CONSULTANCY SERVICES
- RANK 2015: 1
- RANK 2014: 1
- MARKET CAP FY15 APRIL-SEPT: Rs 5,01,476 crore
- TOTAL INCOME: Rs 78,083 crore
- NET PROFIT: Rs 18,750 crore
- ROCE: 41.7%
- SO WHAT: Invincible at No. 1 for past three years. Steadily increasing lead over others
Source: CMIE Prowess, Standalone data
TCS's constant currency revenue grew by just 3.9 per cent in the September quarter against the expected growth of 4.5 per cent. Analysts say the $15.5 billion company's 5.8 per cent revenues growth to Rs 27,166 crore was marginally higher than their expectations. The muted growth, according to Chandra, was, however, not worrying. "The concept of digital has really moved on in the last couple of years from people looking at digital as a set of technologies which enable access on mobile and doing transaction on the mobile or building analytics around data to holistic transformation of businesses," he added.
For the next hour or so, the discussions revolved around the TCS app that enabled SMEs to manage their businesses more efficiently. "If you are a restauranter, you will most likely have a separate tool to take orders, a separate cash-collection system and a swipe machine. We have eliminated all these and created one single application by which you will be able to manage all the aspects of the business, from taking orders, managing transactions and getting a daily report," he explained, adding that TCS is transforming and positioning itself to operate in the digital world and cater to every sector, be it large automobile giants, retailers, banks or small businesses.
This is, however, not the first time that Chandra has talked about going digital. In fact, he has been carefully transforming TCS into a digitally-sound company for over two years and the first step towards achieving that goal was to make his own workforce be digitally-enabled - encouraging them to create an in-house social media platform to build a women safety app. Today, TCS has over 4,000 in-house digital tools that facilitate employee engagement.
Well-known IT consultant Sid Pai, compliments TCS's digital strategy. "TCS is investing ahead of the curve. It always had a long-term vision and, therefore, retained its position as the most valuable Indian company, says Pai. Even in the September quarter, TCS managed to crack the highest number of deals, compared to its peers in the industry. In the past one year, the market cap of TCS was higher than all the other Tata Group companies put together.
Digital TCS
Chandra says investment in digital would be on a war-footing, to offer cutting edge digital solutions to its customers and transforming its own work environment. "You go to our various centres now, you will see that we are changing our office environment to become agile spaces. We no longer have cubicles," he says.
The company is also setting up innovation labs and digital studios. Chandra feels digital solutions are no longer restricted to merely creating a functional solution, but is all about creating an experience. "The whole idea is how we get customers to think through the art of the possible; not only from the point of view of business models and business processes, but also in terms of experience by designing solutions which are experience-rich."
For instance, TCS has created an application for a leading global retailer that has enabled the entity to offer better customer-experience. "They have a large consumer base. So, we have built knowledge platforms working closely with them. We help them track every customer that visits their many stores, the nature of the shopping they do and, through analytics, help them predict what they would like to buy the next time they visit the store. Accordingly, we help the retailer to give tailor-made discounts or customised promotional offers to their customers."
{blurb}While a techie creates the apps, Chandra has felt the need to include sociologists and psychologists into his workforce to understand the psyche of consumers or the consumption habits of different communities, where the stores are situated,. "We also have people with artistic ability and design in our workforce. I expect this number of non-techies to increase manifold." Pai, lauds this strategy. "To offer cutting edge technical or digital solutions, one has to understand consumer psyche and human behaviour. Therefore, it makes sense."
With businesses across industries increasingly depending on data to offer real-time services and insights, TCS has invested in 12 real time platforms. Chandra says that while some of them are already producing revenues, some are in the build-out stage. "But over a period of time it will be matured enough to solve problems of different industries."
Analysts feel this over emphasis on digital could backfire. But, Chandrasekaran is confident: "There is so much opportunity. It has got so many elements. The Internet of Things is a big thing in itself, sensor analytics is a big thing, so is data analytics," he explains.
General Awareness
UNESCO Released Gender and Education for All 2000-2015 Report
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On 12 October 2015 ,the United Nations Educational, Scientific and Cultural Organization (UNESCO) released a report on Gender and Education for All (EFA) 2000-2015: Achievements and Challenges.
Important Points on the Report
The report portrait the educational attainment of girls across the world.nly fewer than half the countries have achieved the goal of ensuring gender parity in both primary and secondary education before 2005.
- Between 2000 and 2015, the number of girls for every 100 boys has risen from92 to 97 in primary education and from 91 to 97 in secondary education
- The number of countries that have achieved gender parity in both primary and secondary education from 2000 to 2015 has increased from 36 to 62
- Fewer than half of countries will have achieved the Education for All goal on gender parity in primary and secondary education by 2015
- Fewer than seven out of every ten young women in sub-Saharan Africa are expected to have basic literacy skills by 2015
- 62 million girls are still denied their basic right to education, the number of out-of-school girls has declined by 52 million in the last 15 years
- Although the goal of gender parity has not been met by all, progress towards gender parity is one of the biggest education success stories since 2000.
- Gender gaps in youth literacy are narrowing. However, fewer than seven out of every ten young women in sub-Saharan Africa are expected to be literate by 2015
- Challenges in achieving gender parity includes – school-related gender based violence and child marriages,almost one in five women who married was aged 15 to 19 in 2012.
- To solve this situation- provide education as a free service, giving alternative secondary education options for out-of-school adolescents and integrating gender issues into all aspects of policy and planning.
- On 12 October 2015 ,the United Nations Educational, Scientific and Cultural Organization (UNESCO) released a report on Gender and Education for All (EFA) 2000-2015: Achievements and Challenges.
Important Points on the ReportThe report portrait the educational attainment of girls across the world.nly fewer than half the countries have achieved the goal of ensuring gender parity in both primary and secondary education before 2005.- Between 2000 and 2015, the number of girls for every 100 boys has risen from92 to 97 in primary education and from 91 to 97 in secondary education
- The number of countries that have achieved gender parity in both primary and secondary education from 2000 to 2015 has increased from 36 to 62
- Fewer than half of countries will have achieved the Education for All goal on gender parity in primary and secondary education by 2015
- Fewer than seven out of every ten young women in sub-Saharan Africa are expected to have basic literacy skills by 2015
- 62 million girls are still denied their basic right to education, the number of out-of-school girls has declined by 52 million in the last 15 years
- Although the goal of gender parity has not been met by all, progress towards gender parity is one of the biggest education success stories since 2000.
- Gender gaps in youth literacy are narrowing. However, fewer than seven out of every ten young women in sub-Saharan Africa are expected to be literate by 2015
- Challenges in achieving gender parity includes – school-related gender based violence and child marriages,almost one in five women who married was aged 15 to 19 in 2012.
- To solve this situation- provide education as a free service, giving alternative secondary education options for out-of-school adolescents and integrating gender issues into all aspects of policy and planning.
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