ICICI Not going to be bankrupt.

There is a lot of rumors about ICICI bank going bankrupt owing to the disturbances seen in the US market. Recently Lehman Brother’s went bankrupt and reportedly ICICIbank had a large share in that . So this has led to people believing that this the end for the second largest bank of India. I am an Assistant manager at ICICI bank and I can assure you all that these are just rumors and nothing else.

You might think that I am trying to protect my bank but I am not stating it without facts. The fact is that the stakes in Lehman Brother’s of ICICI was just 0.1% of the total assets held by ICICI. It is not more than a weeks profit that ICICI generated last year. Moreover, the bank is maintaining 13.5% capital adequacy as compared to the requirement of 9%. So, ICICI bank is very much liquid at this time. In addition to this The Bank is also maintaining its CRR with RBI.

Coming back to the Lehman Brother’s case, the company has invested about 80 millions in the disgraced company but it is not something new in bank’s business to face such bankruptcies. Banks maintain some provision for bad debt and bankruptcies in their balance sheets. Moreover the company is estimating a 50% recovery in this case also. So. the net loss to the company is only $28 million which is just like peanuts for a Bank of stature of ICICI. If you are not convinced yet you can look at the statement issued by our JMD Chanda Kochhar on this issue.The link is this

http://www.icicibank.com/Pfsuser/aboutus/investorelations/pressrelease/icicibank_pressrealease/press_lehman_statement.pdf

EURO 2008 FINAL-SPAIN ALL THE WAY

It was Spain all the way as they lifted the Euro 2008 trophy after 44 years. They beat Germany by 1goal to nil in the final of European Championship 2008. The golden goal came from the boots of Fernando Torres of Liverpool in the 33rd minute of the play.Micheal Ballack came again in the loosing side in the final for the fifth time. The standard of the final was not on the expected one as Germany relied more on foul play than real skill. But nevertheless, Spain-the best team of Euro 2008, were at there attacking best and deserved to be the Champions of the Euro 2008 edition.

The 69 years old Spain coach Luis Aragonés became the oldest coach to enable a team lift the trophy. The game started on the expected line as Spain attacked from the word go. Fernando Torres came close to scoring early with his header which was denied by the post. Then in the 33rd minute he received a long pass on which he showed great skill and speed along with presence of mind to tap it over the German goalkeeper into the goal. This lapse in defense proved too costly for Germany as they could not get their act together for rest of the game and lost eventually.

Germany were unusual in their play as they were committing far too many fouls led by their captain Ballack. Ballack who was only half fit was involved in many fouls and brats on the ground. He got injured in the game also and received a yellow card. Germany got their bits of chances in the second half when they attacked consistently for four or five times. But after that it was Spain who held the possession and came close to scoring. At the end it was heartbreak for the German fans and rejoice for Spain as they got their hand on the Euro cup after 44 years.

So, Let Spain rejoice in this victory as they deserved this trophy and the glory!

Understanding Indo-US nuclear deal -The political way

Indo US nuclear deal has again come into limelight recently and the debate is again hotting up whether this deal is good or bad for the country. After almost one year we are again witnessing the same drama over the issue. Many people don’t know what exactly this deal is all about and why the LEFT are opposing it as well as all other opposing parties whereas Our Prime-minister seems dejected to the opposition to this deal. This article is aimed at demystifying the whole issue from the political point of view and provide an insight into the whole drama.

Before analyzing the issue we should first summarize what this deal is all about. The main points in this deal are enumerated below.

1. US will help India negotiate with the IAEA for an India-specific fuel supply agreement.

2. Washington will support New Delhi develop strategic reserves of nuclear fuel to guard against future disruption of supply.In case of disruption, US and India will jointly convene a group of friendly supplier countries to include nations like Russia, France and the UK to pursue such measures to restore fuel supply.

3.  India and the US agree to transfer nuclear material, non-nuclear material, equipment and components.

4. Low enriched uranium can be transferred for use as fuel in reactor experiments and in reactors for conversion or fabrication.

5. The ambit of the deal include research, development, design, construction, operation, maintenance and use of nuclear reactors, reactor experiments and decommissioning.

6.  India can develop strategic reserve of nuclear fuel to guard against any disruption of supply over the lifetime of its reactors.

7. The US to engage Nuclear Suppliers Group to help India obtain full access to the international fuel market, including reliable, uninterrupted and continual access to fuel supplies from firms in several nations.

8. Both the countries to set up a Joint Committee for implementation of the civil nuclear agreement and development of further cooperation in this field.

9. The legislation amends Section 123 of the Atomic Energy Act of 1954. It lets the US make a one-time exception for India to keep its nuclear weapons without signing the Nuclear Non-Proliferation Treaty (NPT).

For more you can visit http://www.financialexpress.com/news/Highlights-of-IndoUS-nuclear-deal/208405/ .

So over all the deal seems to be a good one from India’s point of view and it will be a giant step towards making India self reliant in nuclear energy. It will solve the whole energy crisis which has curtailed India’s progress. No wonder our Prime minister is so much resentful in not being able to convert this deal into reality. By saying this by no means I am trying to convey that congress is really bent towards the welfare of the country and others are not. Congress loves to be in power as much as others do and this can be explained by the fact that it did not push for the deal last year. If it would have gone for the deal then in every possibility the left would have withdrawn support and the government would have fallen. That would mean two and half years less in power! But now the question arises why The Government want to go for the deal now because the equation remains the same and the chances of this Government lasting its full term is bleak in case of the deal going through?

The answer to this question is complex but interesting. The main intention of our Prime minister is to leave an indelible mark on the Indian history as Prime minister, as he did as Finance minister, in bringing the reform which is paying us till today. Till now the performance of this government can be termed as mediocre and there are no reason that congress can come back in power. Deterrents like inflation at 13 year high of 11% , increase in fuel prices along with anti- incumbency factors will prove to be too much for congress in the coming election. So, now Congress sees this deal as a means to gain the lost popularity and goodwill of the people by going for this deal and “sacrificing power” for the good of the country.

Whatever be the reason behind the Congress to push for the deal now , as long as it is in country’s intrest it is good. There are other reasons also which points to the fact that this is the right time to push for the deal. Cracks are appearing in the opposition camp of BJP over the deal and powerful forces in the BJP camp have not opposed the deal like Arun Jaitley and Murli Manohar Joshi. Brajesh Mishra have even said that the deal is worth considering. Moreover other parties like Samajwaadi party and RJD along with DMK are in support.

So, it all depend on Mr. Manmohan singh and Sonia Gandhi to decide whether they want six month more in the office by giving in to the pressure of a party which have 19th century ideals or they want to step down from the Chair by giving in to the welfare of people?  Come on Mr. manmohan singh, take one tough stand in your tenure, and be assured that the coming generations will remember you for years to come.  One loose step here will put your name in Oblivion.

Firefox 3 will gobble The Explorer

Today 17th june is the Download day for the new Firefox 3 browser which is promoted by Mozilla. On Tuesday, the third edition of Firefox will become available for free download. Such is the build-up and hype for this Open Source web browser that 1.6 million users have already pre-registered to get the software on Download Day, June 17. Mozilla hopes to create a world record with largest number og downloads in single day.

Firefox has a reputation for blocking viruses and other malware more effectively than many competing offerings, and many users whose PCs or laptops run on proprietary systems still choose to browse with Firefox. The new version has removed most of its glitches and now comes in more robust form.

1,391,404 people accross the world have already pledged to download this browser on 17th. So, I have also joined hand in this new world record and will certainly download one. Moreover, on this day I have started my own download gallery for some free ebooks and materials for cat.
So, all of you come lets join hand in making Firefox the most used web browser ever!!

To become part of this world record click: http://www.mozilla.com/en-US/firefox/?p=downloadday

Downloads

Reading is an integral part of CAT preparations. Many students have this question in their mind ” How to improve in Reading Comprehension?” The answer to this question is by improving ones reading habit. There are a lot of books which can be said to be indispensable for cat preparations. But we can not buy all of the unless we are the son’s of Ambani or TATA’s. So, here I have compiled some good ebooks which are completely free to download without any hassles of other sites. feel free to download these ebooks . These are present in the sidebar of this blog under the heading ” Downloads”.

The list have Atlas Shugged, the Fountainhead, Anthem by Ayn rand; The Alchemist, Veronika decides to die, and Maktub bu Paulo Coehlo to name a few.

If you want any other you can request me and I will put it for you.

Why Ranbaxy is the apple of discord now?

Recent developments in the pharmaceutical world have suddenly made Ranbaxy-an Indian pharma major, the apple of discord between Pfizer and Daiichi Sankyo- the other two pharma major of the world. Just one day after the news of Japanese company Daiichi Sankyo taking over 34.8% stakes of the promoters of Ranbaxy, there comes the news of a hostile bid for the other 65% Non-promoters stake by the largest pharma company of the world- Pfizer. Daiichi was willing to pay 31.4% premium to get the whole 34.8% shares held by the family promoters and add 20 % shares from the public. But now comes the twist in the tale. Pfizer which had negotiated with the Indian major last year unsuccessfully, may now bid for 41.3%  stakes from the institutions and 21.2% from the individual shareholders. So, now Ranbaxy has become the Apple in which everyone wants to have a bite!.

Now the biggest and most interesting question which arises is WHY? Why a company of the stature of Pfizer would want so desperately to buy a company which have no major patented drugs to its name? What is the profit these companies are looking for in buying a company which only make generic /low cost versions of branded drugs?

The answers to the above questions are as interesting! Pfizer has maintained its lead in the pharmaceutical ground on the success of some of its patented drugs like Norvasc, Lipitor e.t.c. The patent rule allowed it to exercise monopoly on some life saving drugs for HIV and blood pressure. But, now Pfizer finds itself in an awkward position as its major patents are going to last till 2011 only like that of Lipitor and no major drugs are present in its pipeline which can maintain its position. Pfizer wants to increase the patent of lipitor by combining it with  Norvasc. But, Ranbaxy seems to be determined in not allowing Pfizer get what it wants. Presently Ranbaxy is contesting legal battle with Pfizer in 17 countries over generic versions of patented drugs. Moreover, Ranbaxy is one of the major players in the Generic drugs market and can run away with all the booty because of its low cost and good quality. For an instance , HIV drug for one patient for one year costs  approximately $10,000 for branded drugs as compared to the $ 100 for generic version from Ranbaxy.

Thus from the above facts, we can easily deduce the actual motive behind the rumoured hostile bid by Pfizer for Ranbaxy. The obvious reasons seems to be that Pfizer wants to kill the competition and hostility from Ranbaxy by buying it. The other reason can be that it wants to enter the generic market by utilising the Ranbaxy’s low cost model. This is very much a possibility as other branded drug manufacturer like Nvartis have already entered the generic drug market, and Ranbaxy can help Pfizer establish a  solid base for building a larger generic drug business.

So, now it will be very much interesting to see in which direction the ball will roll. One one hand the deal would mark a giant leap for the Japanese Sankyo to 12th position in pharmaceuticalfield with presence in over 56 countries, on the other It will mark the entry of a Branded major into Generic drug business. Whatever be the case, lets all hope that the generic drug business is not affected as this serves as a lifeline for many poor countries which can not afford the costly drugs made by companies like Pfizer.

 

” Worth Studying at BIT, Mesra”

Hi Guys,
Now that the much awaited results of AIEEE is out and the counseling season is about to begin…the next biggest problem that arises in front of the students is which colleges they would be getting according to their AIR( All India Rank) and which college to go for…
I hope my post could solve some of their problems… To start with, I am an Ex student of Birla Institute of Technology, Mesra, Ranchi and I think I could give the real picture of the college. As far as Engg is considered, the courses that are offered here are:-
1) Computer Sciences
2) Information Technology
3) ECE
4) EEE
5) Mechanical Engg
6) Production Engg
7) Polymer Engg
8 ) Civil Engg
9) Biotechnology
10) Pharmaceutical Sciences
Apart from these Bachelor in Architecture and many Post graduate programmes are being offered here. Let’s start with the first question that comes to the mind of all the students on hearing a college’s name and that is” THE PLACEMENTS” …Stop worrying for the placements if you are at BIT Mesra..The placements here are mind blowing though not as the IITs but not even less than that!!! The students are offered more than 3 jobs ( 300% placements) and that too in world’s leading MNCs
Most of the Fortune Five Hundred Companies like Microsoft, Hp, Google, Oracle, Goldman Sachs , Dell, Patni, TCS, CTS, Infosys, IOCL etc etc the list is endless, come to the campus and hire students in bulk with a very decent package of around 5L…Microsoft even offers around 10L apart from other benefits. The students have opportunities not only in the Private sectors but also in the Govt sector. But let me tell you one thing this is not the case for all the branches. Branches like Pharmaceutical Sciences, Biotechnology, B.Arch are still lagging behind as far as the placements are concerned. About 80% pharmacy students get placed at a very average salary with a general designation of Medical Rep, some go in production with an annual salary of less than 2L and the rest 2% of the students are absorbed by any IT companies. Same is the condition of Bio tech students, 10% students are placed in IT companies and the rest have to look for Off campus. For Architecture there is NO placement and the poor students who have devoted their 5years get nothing in return. But I must say the situation is improving year after year.
If we talk about the Infrastructure and Hostel facilities, they are damn good. The best thing about BIT is its greenery .The Institute is spread in many acres with greenery all around. The Institute has a very rich library with a huge number of books. There are separate hostels for boys and girls (which are actually too much separated). Single rooms are allotted to the first year students under the strict supervision of the higher management, to avoid ragging. I must say there is practically no ragging at BIT, the correct word is Interaction (Condition is somewhat like this that the seniors are afraid of the juniors and try to maintain a distance with their junior batches. For the Girl candidates, there are two Hostels-8&9. Hostel 8 is only for the freshers and Hostel 9 is for the senior batches. The hostel is extremely safe from all points and is under the direct supervision of the Hostel Warden. The only problem is that of the IN TIME.All the girl students have to be inside their respective hostels before 6:30PM!!!
Coming to the examination at BIT, Mesra: The entire course is completed in 8 semesters and each semester consists of a MID SEM (Mid Semester) and an END SEM (End Semester) apart from the Lab End Sems and Viva which are frequently taken. Mid Sem is cool because a TUTE SHEET is given and you are guaranteed with 4Questions, but the real terror is the END SEM when the syllabus seems to never ending. But again not to worry, there is a Xerox shop nearby. One more thing, don’t ever dare to bring a “CHUTKA” for the exams because if you are caught, believe me my friend you are gone for a semester…
So friends grab the opportunity if it comes your way and be a part of the BIT Family. I am proud to be a BITIAN …..Are you???
To summarize:-
Things to be appreciated at BIT:

1) Infrastructure
2) Placements
3) Library and Wi-Fi facilities
4) Hostels
Things to be improved at BIT:

1) Placement of the Non- Engineering branches
2) Student’s Independence

And lastly the most important thing, while joining BIT Mesra don’t think you are joining a college! It is a school . The amount of discipline and restrictions takes out a lot of fun. But the bottom line is in spite of these restrictions there are still enough fun to cherish for a lifetime!!

Best of luck.

Many of my friends seems to be concerned about the placement data of BIT mesra. They have asked me about the the branch wise packages, companies which are coming , number of people they are taking and etc etc. So, all those who want to know about the placement can visit these links.

http://bitmesra.ac.in/placement/placement07-08.htm

http://bitmesra.ac.in/placement/salaries.htm

Barack Obama Wins the Battle But the War is not over Yet!

Finally the 16 month old suspense is over and now we actually know who will be the Democratic nominee for the US presidential election in 2008. Every body seems to be very happy ,specially the Blacks as they finally have a nominee with whom they can relate to. But they should not loose the focus as Mr. Obama has only won a battle of a long WAR. The road to White House is still a distant dream and even if He makes it to the Chair of President, fulfilling all the promises he has made will even more be difficult.

The cat and mouse battle between Mr. Obama and Mrs. Clinton came to a rather surprising end. Surprising, because a Black being nominated as the presidential candidate in a country where apartheid prevailed not so far in history; and even today the Blacks find it difficult to place themselves at par with the Whites, is a surprise. But I would thank Mrs. Clinton for putting up a brave fight and coming this far which made the contest even more interesting and thrilling from the neutral point of view. Every time Obama looked certain to win, she came back! This is reflected in the margin of victory also. In 56 Primaries Obama won 1767 to Hillary’s 1640 , which is narrow by any standards. This narrowness of the margin is even making things harder for the Clinton camp to accept defeat. But it would be wiser for Mrs. Clinton to accept defeat and support Obama gracefully. But the Real War begins now !

The war between Mr. Obama and Mr. McCain. But the real war will be within himself and his self belief that He CAN do it. Given the condition of America be it The war with Iraq, The economic gloom, and the flow of current behind the Democrats , a win in November will be quite easy. But before that he has a great work at hand of uniting the Democrats supporters who have been divided due to the battle with Mrs Clinton. And this , mind you, will not be easy. Many Democrat supporters who were routing for Clinton have decided to vote for McCain instead if Obama becomes the Democrats nominee. More over Mr. Obama’s own past can come between him and White House. If he can overcome these and put aside the rumours floating on Internet about him being a Muslim and sympathiser of terrorists, he can surely make history of opening the gate of “WHITE”house for the Blacks.

 The road ahead of Obama is not an easy one. He has made it this far and awakened the hopes of millons accross the country. People , who have long been supressed are looking forward to their moment of glory. If Obama does not succeed in making the cut, a million hopes will come crushing down. The “Change” he has promised will again not come and most importantly it will be like a hammerblow to the selfbelief of The Blacks.

Myself being an Indian, my heart routs for Mr. Obama as my own countrymen have also faced the same menace of apartheid in the pre-independence era. Come on Obama bring the CHANGE you have promised , The world is waiting to see the emergence of new America. 

 

 

Just got my degree

Finally the convocation at Bit mesra took place on 22nd May. This was the day which we used to discuss and speculate for the four years of study. Convocation was the day for old friends and foes to unite and show off what they have achieved and relish those memories of togetherness.
But the spirits were dampened as memories of two of our old friends kept coming back to us . It was Sadaf and Prabhat. Both of them lost their lives on the very first day of their job in an accident. But life goes on… and so we tried to enjoy ourselves as much as we can.
As always, there was lack of enthusiasm from the pharmacy guys, and less number of people turning up was a dampener.
Anyway, here is my experience as I enjoyed it and will relish these memories for life.
Convocation was on 22 nd May and we were supposed to collect our gowns on 21 st . I was expecting a big queue , but there was none as the number of people were less. Next day we were supposed to enter the Hall before 9.30 A.M. But as expected, due to some unforeseen reasons, I went there at 10.00 o’ clock. I was wondering whether I would be allowed to enter or not . I was such a fool! I forgot that I was in India. Convocation was delayed due to the chief guest not coming on time. I was relieved. I went inside and took my seat. Due to some poor planning and absurd seating arrangements, mine seat was quite far from the whole group.

Like always, this year also, we were hearing the rumours of President coming as the chief guest, but as expected, She did not and some P.Balram of Indian Institute of Science from Bangalore came along with ever-available Governor of Jharkhand! Before their arrival. we were taught how to enter the stage and bow to the panel after receiving the degree which hardly anyone noticed( Bitian way– never pay attention to what u r taught!!)

At 11 o’ clock the chief guests arrived along with the panel, sat on their respective seats and the convocation started. Initially there was a long and tedious speech from our acting V.C. which kept on going on and on and on….. We all were tempted to shout ” ek do teen chaar… band karo yeh attyachaar” but we did not, thanks to our restraining power. After ages it was over and then came the turn of Mr. Balram and then The Governor. In the mean time we were supplied with the copy of the speeches which were being delivered. We thanked BIT for this!!! Not because we were interested in the speech but it was really hot and the pamphlet worked as a fan!!

Then Gold medalist from each branch were called and presented with the gold medal. After this there came one “Mr. hunsmukh” whom I think was trained to give degrees. For rest of the students he kept on posing and smiling for the photographers . At last our turn came and we went to take our ” beloved ” degree from our very own ” sugga” . We took it and posed and ran away.

Then it was some photography time. We all posed in different angles with our degree . Bit had arranged for some snacks and there was more number of people than the actual convocation. We managed to get some packets for ourselves. One thing I would like to add that this time BIT was very generous in giving cold drinks as that was available in plenty and we were all lining up to that stall one after another.

So, overall it was great time and specially the Gown( which was the same from the time BIT started ) was great. We let our imagination go wild which is reflected in the pics .

Anyway, thank you BIT for everything.

Awarding olympics to Beijing- A mistake

The above three picture tells the whole story of the coming Beijing Olympics and shows how wrong the IOC has gone in picking China as the host of the biggest sporting extravaganza of this planet. The Olympic games means different things to different people. To the athletes it represents the culmination of hard work and ambition , to keen followers of the game they represent competition of highest level, but to the host country it is an opportunity to showcase their country’s might and means.

The International Olympics committee were myopic in their decision to grant China 2008 Olympics. They went on to appease an emerging super power with some 1.3 billion people but forgot the base that after all it is an sporting event and the country should be suitable for hosting games. There are basically two major reasons why the Games should not have gone to Beijing.

Firstly, Beijing is not technically fit to host such an event like Olympics, which require a lot of endurance, due to its high level of pollution. The level of pollution is as high as 12 times the limit considered safe by WHO. Breathing in Beijing is harmful and holding an athletic event is like ” feeding athlete with poison”. this whole pollution issue is already taking its toll as in march Haile Gebrselassie, the world record holder in marathon and favorite for gold medal has announced that that he will almost certainly not compete in that race and opt for a shorter distance to prevent long-term injury to his lungs. Some might consider it as a harsh decision, but some earlier events have shown how difficult it is to compete in such conditions like the cycling race held recently in which all but 8 out of 47 cyclist drop midway due to air.In short, the IOC should not have chosen a city where athletes’ tolerance for particulates is a major factor in determining medals.

Since then beijing has produced results of decreasing pollution level. But the truth is that it has employed fraudulent techniques to show better results by moving the lab from city and others.To get a more clear picture following points should be noted.

1. According to the World Bank, 16 cities in the world with the worst air pollution are located in China.
2. The country’s Ministry of Science and Technology has estimated that 50,000 newborn babies a year die from the effects of air pollution.
3. China’s emissions of carbon dioxide, the most important global warming gas, are expected to surpass those of the United States in 2009, according to the International Energy Agency.

So, what china can do to bring down the pollution level is shut down industries and prohibit automobile usage. These extreme steps points to the second reason why the games should not have gone to china.

The communist party is obsessed with the idea of hosting a perfect Olympics and this has led to increase in repressive measures applied by the Chinese officials on the citizens. Some may argue that china have become more free from the time the games have been awarded to it. But the change is not due to the Olympics. As the Olympics are approaching, the government have become less tolerant and more coercive in its measures. The following points will highlight the condition of china.

1. They have shut down factories.

2. They have relocated 1.48 million people without their consent to make way for Olympic venues.

3. They have been systematically jailing citizens who question the hosting of the Games.

4. Visa restrictions on foreigners.

5. They are withdrawing permission for academic conferences and other long-planned events to ensure complete control over society.

Thus we see that the Olympics are becoming a showcase of violent repression and a means to control a dynamic population.

So, we can say that it was a mistake to grant Olympics to china on the technical as well as the political grounds.