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100 Articles

FROM THE EDITOR-IN-CHIEF

A touch of stale familiarity attends to every recitation of the Congress story—the same litany of weaknesses is trotted out, the same problems are aired, and sundry experts engage in the same obituary writing. A quick scan of the cover stories INDIA TODAY itself has done over the years will reveal that the issues remain largely the same. The phrase “suspended animation” describes the state of the Congress most aptly—and it has been so for long. And yet, each time the crisis seems more dire, and a sense of India’s Grand Old Party being on a historic, existential cusp prevails. The present moment feels especially dire. The party’s electoral desperation is getting starker across the landscape. It registered its lowest tallies ever in the last two Lok Sabha elections: 44…

FROM THE EDITOR-IN-CHIEF

FROM THE EDITOR-IN-CHIEF

A touch of stale familiarity attends to every recitation of the Congress story—the same litany of weaknesses is trotted out, the same problems are aired, and sundry experts engage in the same obituary writing. A quick scan of the cover stories INDIA TODAY itself has done over the years will reveal that the issues remain largely the same. The phrase “suspended animation” describes the state of the Congress most aptly—and it has been so for long. And yet, each time the crisis seems more dire, and a sense of India’s Grand Old Party being on a historic, existential cusp prevails. The present moment feels especially dire. The party’s electoral desperation is getting starker across the landscape. It registered its lowest tallies ever in the last two Lok Sabha elections: 44 in…

FROM THE EDITOR-IN-CHIEF

IT’S IPO SEASON AGAIN

A choppy stock market is scarcely the opportune time to raise money from the public, right? But when uncertainty is the reigning sentiment, what with the Russian-Ukraine war in its third month and the RBI (Reserve Bank of India) and US Federal Reserve hiking rates, what is the right time to enter the market? LIC (Life Insurance Corporation) set the ball rolling when it opened its much-awaited IPO (initial public offering) on May 4. Five other companies will follow suit this month, to raise Rs 7,960 crore through the same route. If media reports are to be believed, the overall funds raised from the new listings and the ongoing IPOs could touch Rs 28,960 crore this May, making it a rich summer for fund-raising after the cool pickings in November…

IT’S IPO SEASON AGAIN

THE REPO RISE SURPRISE

After resisting the urge for nearly two years, the RBI (Reserve Bank of India) finally bit the bullet on May 4. It hiked the repo rate, or the rate at which it lends to commercial banks, by 40 basis points (bps, 1 bps is a hundredth of a percentage point), taking it to 4.4 per cent. No one saw it coming, especially as the RBI’s quarterly monetary policy committee (MPC) meeting in April gave no such inkling, though the inflation numbers were looking troubling even then. You are already paying high food and fuel prices, now add costlier loans, be it personal, auto or housing. The first hike since the pandemic began, it restores the repo rate to the April 2020 level. The RBI also increased the cash reserve ratio (CRR)…

THE REPO RISE SURPRISE

IT’S IPO SEASON AGAIN

A choppy stock market is scarcely the opportune time to raise money from the public, right? But when uncertainty is the reigning sentiment, what with the Russian-Ukraine war in its third month and the RBI (Reserve Bank of India) and US Federal Reserve hiking rates, what is the right time to enter the market? LIC (Life Insurance Corporation) set the ball rolling when it opened its much-awaited IPO (initial public offering) on May 4. Five other companies will follow suit this month, to raise Rs 7,960 crore through the same route. If media reports are to be believed, the overall funds raised from the new listings and the ongoing IPOs could touch Rs 28,960 crore this May, making it a rich summer for fund-raising after the cool pickings in November…

IT’S IPO SEASON AGAIN

REDRAWING THE MAP

Two years after New Delhi set the delimitation exercise in motion in Jammu and Kashmir, the commission set up for the task submitted its report on May 5. The panel’s main recommendation was six new seats for Jammu, which will now have 43 in the assembly while Kashmir’s share goes up to 47 with an extra seat. The extra weightage to Jammu has naturally invited criticism from J&K’s main political parties who see it as another attempt by the ruling BJP at the Centre to undermine them. The delimitation process, mandated to fix boundaries of territorial constituencies, comes as part of the J&K Reorganisation Act, 2019. Every political party except for the BJP had opposed the exercise. Led by retired Supreme Court judge Ranjana Prakash Desai, the three-member commission was appointed…

REDRAWING THE MAP

THE REPO RISE SURPRISE

After resisting the urge for nearly two years, the RBI (Reserve Bank of India) finally bit the bullet on May 4. It hiked the repo rate, or the rate at which it lends to commercial banks, by 40 basis points (bps, 1 bps is a hundredth of a percentage point), taking it to 4.4 per cent. No one saw it coming, especially as the RBI’s quarterly monetary policy committee (MPC) meeting in April gave no such inkling, though the inflation numbers were looking troubling even then. You are already paying high food and fuel prices, now add costlier loans, be it personal, auto or housing. The first hike since the pandemic began, it restores the repo rate to the April 2020 level. The RBI also increased the cash reserve ratio…

THE REPO RISE SURPRISE

FIGHTING INFLATION

THE MOVES ↘ On May 4, RBI raised repo rates by 40 basis points (bps) to 4.4% ↘ Cash reserve ratio requirement hiked by 50 bps to 4.5% ↘ US Fed raises interest rates by 50 bps, the highest in 20 years THE IMPACT ↘ BSE Sensex falls 1,307 points on May 4 and another 866 points by May 6 ↘ On May 5, the Dow Jones Industrial Average of the US loses 1,063 points or 3.12 per cent, its worst single-day drop since 2020 FREE FALL How the rupee weakened against the dollar MAY 10, 2021 73.7 MAY 9, 2022 77.4…

AMPLIFYING HIS PRESENCE

On the face of it, the Maharashtra Navnirman Sena (MNS) chief Raj Thackeray’s campaign against the use of loudspeakers in mosques for azaan and other purposes met its objective—over 90 per cent did not use them at dawn on May 4, the deadline set by the politician. The silence has persisted since then. As part of his agitation, a combative Raj had also ordered MNS cadre to play the Hanuman Chalisa outside mosques from May 4 if azaan was still announced before 6 am (the Supreme Court restricted the use of loudspeakers between 10 pm and 6 am in a 2005 order). It forced the Maharashtra police to implement its 2017 guidelines, which say that use of loudspeakers needed prior permission, with a decibel limit of 55 for religious places.…

AMPLIFYING HIS PRESENCE

REDRAWING THE MAP

Two years after New Delhi set the delimitation exercise in motion in Jammu and Kashmir, the commission set up for the task submitted its report on May 5. The panel’s main recommendation was six new seats for Jammu, which will now have 43 in the assembly while Kashmir’s share goes up to 47 with an extra seat. The extra weightage to Jammu has naturally invited criticism from J&K’s main political parties who see it as another attempt by the ruling BJP at the Centre to undermine them. The delimitation process, mandated to fix boundaries of territorial constituencies, comes as part of the J&K Reorganisation Act, 2019. Every political party except for the BJP had opposed the exercise. Led by retired Supreme Court judge Ranjana Prakash Desai, the three-member commission was…

REDRAWING THE MAP

↘ Six new seats for Jammu (total 43 now), one for Kashmir (47) in new 90-member legislative assembly ↘ New seats in Jammu are in Kathua, Reasi, Doda, Rajouri, Kishtwar, Samba districts; Kupwara in Kashmir ↘ 16 reserved seats, 9 for STs), including three in Kashmir, 7 for SCs (all in Jammu) ↘ 28 assembly constituencies redrawn, 19 renamed ↘ One Lok Sabha constituency will consist of 18 assembly constituencies ↘ Rajouri, Poonch merged with Anantnag LS seat…

FOR YOURSELF AND OTHERS

#BeTheBetterGuy A Road Safety Initiative Broken Whilie Line The broken white line imparts the permission to change lanes, overtake and take U-turns. However, it must be taken into consideration that before executing any of these manoeuvres, one must check the surroundings, oncoming traffic and the traffic behind. Conliinuous Whilie Line On this road, overtaking other vehicles or taking U-turns is allowed. This is mostly the case when the road is narrow and because traffic is generally heavy. At the same time, these are seen on hilly roads where there are frequent blind corners. One must never attempt an overtake around a corner. Conliinuous Yellow Line A continuous yellow line issues instructions to stay within the yellow line. On the upside, ii allows one to overtake as long as one stays within the yellow line. These roads…

FOR YOURSELF AND OTHERS

AMPLIFYING HIS PRESENCE

On the face of it, the Maharashtra Navnirman Sena (MNS) chief Raj Thackeray’s campaign against the use of loudspeakers in mosques for azaan and other purposes met its objective—over 90 per cent did not use them at dawn on May 4, the deadline set by the politician. The silence has persisted since then. As part of his agitation, a combative Raj had also ordered MNS cadre to play the Hanuman Chalisa outside mosques from May 4 if azaan was still announced before 6 am (the Supreme Court restricted the use of loudspeakers between 10 pm and 6 am in a 2005 order). It forced the Maharashtra police to implement its 2017 guidelines, which say that use of loudspeakers needed prior permission, with a decibel limit of 55 for religious places.…

AMPLIFYING HIS PRESENCE

GEHLOT IN CHOPPY WATERS

Rajasthan chief minister Ashok Gehlot turned 71 this May, but the woes of his crisis-ridden government left no space for any sense of elation or fulfilment. In fact, even as celebrations were happening on May 3, news came that riots had broken out in Jodhpur, his hometown. Then came allegations of rape and sexual exploitation of a news anchor by the son of his closest aide in the cabinet. Meanwhile, the Enforcement Directorate is turning the screws in the probe into the teacher recruitment exam paper leak case. All this has become a dampener ahead of the Congress party national chintan shivir (brainstorming session) scheduled to be held in Udaipur from May 13-15. With the assembly election due in December 2023, politics is hotting up in Rajasthan. The opposition BJP is…

GEHLOT IN CHOPPY WATERS

FOR YOURSELF AND OTHERS

#BeTheBetterGuy A Road Safety Initiative Broken Whilie Line The broken white line imparts the permission to change lanes, overtake and take U-turns. However, it must be taken into consideration that before executing any of these manoeuvres, one must check the surroundings, oncoming traffic and the traffic behind. Conliinuous Whilie Line On this road, overtaking other vehicles or taking U-turns is allowed. This is mostly the case when the road is narrow and because traffic is generally heavy. At the same time, these are seen on hilly roads where there are frequent blind corners. One must never attempt an overtake around a corner. Conliinuous Yellow Line A continuous yellow line issues instructions to stay within the yellow line. On the upside, ii allows one to overtake as long as one stays…

FOR YOURSELF AND OTHERS

CAGING RESEARCHERS

For a reputed research institution known across the world, the Dehradun-based Wildlife Institute of India (WII) is going through unusually tough times. An autonomous institution under the Union ministry of environment, forests and climate change (MoEFCC), that trains wildlife biologists who undertake research across India, the WII has been facing a funds crunch—with reduced allocation in the Union budget for it and similar institutes—in recent years that has been hampering its functioning. But now comes the deepest cut of all. The MoEFCC has asked the WII to send its reports and studies to the ministry before releasing them elsewhere. The move has academics worried, with some seeing it as a ‘gag order’ that encroaches on WII’s rights, curtailing the independence of its opinion. The April 18 letter from the MoEFCC, addressed…

CAGING RESEARCHERS

KILLING WITH SWEETNESS

When BCCI president Sourav Ganguly hosted Union home minister Amit Shah at his home in Kolkata on May 7, he arranged for a platter of Bengali delicacies for the BJP leader. Out of all the preparations, Shah loved mishti doi (sweet curd) the most. The suggestion to include it in the menu came from none other than West Bengal CM Mamata Banerjee, one of the BJP’s bitterest rivals. The sweetness of Mamata’s gesture stayed on with Shah, known for his sweet tooth. He left Bengal, asking BJP leaders to dig their heels in and learn a lesson or two from Mamata on how to play the role of an Opposition leader.…

KILLING WITH SWEETNESS

GEHLOT IN CHOPPY WATERS

Rajasthan chief minister Ashok Gehlot turned 71 this May, but the woes of his crisis-ridden government left no space for any sense of elation or fulfilment. In fact, even as celebrations were happening on May 3, news came that riots had broken out in Jodhpur, his hometown. Then came allegations of rape and sexual exploitation of a news anchor by the son of his closest aide in the cabinet. Meanwhile, the Enforcement Directorate is turning the screws in the probe into the teacher recruitment exam paper leak case. All this has become a dampener ahead of the Congress party national chintan shivir (brainstorming session) scheduled to be held in Udaipur from May 13-15. With the assembly election due in December 2023, politics is hotting up in Rajasthan. The opposition BJP…

GEHLOT IN CHOPPY WATERS

In 2012, Nitish Kumar—despite being an NDA ally—had supported UPA’s presidential nominee, Pranab Mukherjee. Again, in 2017, now in alliance with RJD and Congress, Nitish supported NDA candidate Ram Nath Kovind. Both the men he backed became India’s first citizens. Now, all eyes are trained on the Bihar CM before the presidential polls scheduled in July. On May 5, Union Minister Dha rmendra Pradhan flew into Patna to have an hour-long confab with Nitish, again underlining how eager the BJP is to secure Nitish’s vote.…

CAGING RESEARCHERS

For a reputed research institution known across the world, the Dehradun-based Wildlife Institute of India (WII) is going through unusually tough times. An autonomous institution under the Union ministry of environment, forests and climate change (MoEFCC), that trains wildlife biologists who undertake research across India, the WII has been facing a funds crunch—with reduced allocation in the Union budget for it and similar institutes—in recent years that has been hampering its functioning. But now comes the deepest cut of all. The MoEFCC has asked the WII to send its reports and studies to the ministry before releasing them elsewhere. The move has academics worried, with some seeing it as a ‘gag order’ that encroaches on WII’s rights, curtailing the independence of its opinion. The April 18 letter from the MoEFCC,…

CAGING RESEARCHERS

Not Your Meal Ticket

When Rahul Gandhi visited Telangana last week to take stock of the Congress’s preparations for the assembly poll due next year, the party state unit left nothing to chance in its hospitality to the Gandhi scion. A sumptuous meal of Hyderabadi biryani was followed by Irani chai. It did little, though, to soften up Rahul. He asked local Congress leaders to be pro-active on the ground instead of rushing to Delhi, begging for tickets. He also twice advised them not to raise their grievances in the media and asked them to speak out in party forums. Violations will not be tolerated, he warned. The strong tea sure did its job.…

Not Your Meal Ticket

KILLING WITH SWEETNESS

When BCCI president Sourav Ganguly hosted Union home minister Amit Shah at his home in Kolkata on May 7, he arranged for a platter of Bengali delicacies for the BJP leader. Out of all the preparations, Shah loved mishti doi (sweet curd) the most. The suggestion to include it in the menu came from none other than West Bengal CM Mamata Banerjee, one of the BJP’s bitterest rivals. The sweetness of Mamata’s gesture stayed on with Shah, known for his sweet tooth. He left Bengal, asking BJP leaders to dig their heels in and learn a lesson or two from Mamata on how to play the role of an Opposition leader.…

KILLING WITH SWEETNESS

In 2012, Nitish Kumar—despite being an NDA ally—had supported UPA’s presidential nominee, Pranab Mukherjee. Again, in 2017, now in alliance with RJD and Congress, Nitish supported NDA candidate Ram Nath Kovind. Both the men he backed became India’s first citizens. Now, all eyes are trained on the Bihar CM before the presidential polls scheduled in July. On May 5, Union Minister Dha rmendra Pradhan flew into Patna to have an hour-long confab with Nitish, again underlining how eager the BJP is to secure Nitish’s vote.…

RED-FACED PAWAR

The ever-alert Sharad Pawar was proved wrong twice in the past two weeks. First, author James W. Laine trashed Pawar’s theory that the late Babasaheb Purandare was the source for his (Laine’s) ‘derogatory remarks’ on Chhatrapati Shivaji in his 2003 book. Second, the Pune rural police withdrew a case against Sambhaji Bhide for the Koregaon-Bhima violence, citing lack of evide nce. Pawar had first named Bhide as a conspirator. Both Purandare and Bhide were associated with the RSS, for which Pawar has no love lost.…

RED-FACED PAWAR

Not Your Meal Ticket

When Rahul Gandhi visited Telangana last week to take stock of the Congress’s preparations for the assembly poll due next year, the party state unit left nothing to chance in its hospitality to the Gandhi scion. A sumptuous meal of Hyderabadi biryani was followed by Irani chai. It did little, though, to soften up Rahul. He asked local Congress leaders to be pro-active on the ground instead of rushing to Delhi, begging for tickets. He also twice advised them not to raise their grievances in the media and asked them to speak out in party forums. Violations will not be tolerated, he warned. The strong tea sure did its job.…

Not Your Meal Ticket

EMPOWERING TAMIL NADU WITH THE DRAVIDIAN MODEL

Improving women's sense of self-worth Right to have and determine choices in matters that concern them ◾ Right to have access to opportunities and resources ◾ Right to have the power to control their own lives, both within and outside the home ◾ Ability to influence their environment to ensure social justice and create an equitable social and economic order. ◾ Free bus travel for women to ensure financial freedom, encourage and boost their work participation rate. ◾ Paramount importance to the safety of women and girl children in educational institutions and workplace. Four courts to hear POCSO cases to put an end to crime against women and children. ◾ All girls studied from classes 6 to 12 in government schools would be paid Rs 1,000 till the uninterrupted completion of their undergraduate degree, diploma and ITI…

EMPOWERING TAMIL NADU WITH THE DRAVIDIAN MODEL

RED-FACED PAWAR

The ever-alert Sharad Pawar was proved wrong twice in the past two weeks. First, author James W. Laine trashed Pawar’s theory that the late Babasaheb Purandare was the source for his (Laine’s) ‘derogatory remarks’ on Chhatrapati Shivaji in his 2003 book. Second, the Pune rural police withdrew a case against Sambhaji Bhide for the Koregaon-Bhima violence, citing lack of evide nce. Pawar had first named Bhide as a conspirator. Both Purandare and Bhide were associated with the RSS, for which Pawar has no love lost.…

RED-FACED PAWAR

The obituary has been long in the writing, dusted off every time the Congress loses another election. Now, however, the possibility of the grand old party disappearing into oblivion has become very real. Impervious to that idea so far, the realisation is finally dawning on the Congress—that it may be on the cusp of extinction if it does not take immediate steps to avert its demise. Hence a ‘Nava Sankalpa Shivir’, a three-day brainstorming session in Rajasthan’s Udaipur from May 13 to 15. It’s the fourth such conclave since 1998, but the last one was held way back in 2013, a year before the party delivered its worst Lok Sabha performance. More than 400 Congress delegates will gather here to urgently debate strategies to combat the immediate challenges—assembly elections in…

“WHY CAN’T A 40-YEAR-OLD BE CONGRESS PRESIDENT?”

Q. Why is the Cong ress facing an existential crisis? The Congress is a natural party of governance. We know how to run a government. But when we run the government, we fail to run the party. Most senior leaders are inducted into the government and not spared for party work. When Narasimha Rao and Manmohan Singh were prime ministers, we neglected the party organisation. Because the party machinery and work were neglected, when we are in the Opposition, the party organisation has not picked up the responsibilities or carried the party’s message and narrative. Q. How do you plan a revival when the party is almost non-existent in Uttar Pradesh, Bihar, West Bengal, Telangana and Andhra Pradesh and a junior partner in Tamil Nadu and Maharashtra? These states account for nearly…

“WHY CAN’T A 40-YEAR-OLD BE CONGRESS PRESIDENT?”

EMPOWERING TAMIL NADU WITH THE DRAVIDIAN MODEL

Improving women's sense of self-worth Right to have and determine choices in matters that concern them ◾ Right to have access to opportunities and resources ◾ Right to have the power to control their own lives, both within and outside the home ◾ Ability to influence their environment to ensure social justice and create an equitable social and economic order. ◾ Free bus travel for women to ensure financial freedom, encourage and boost their work participation rate. ◾ Paramount importance to the safety of women and girl children in educational institutions and workplace. Four courts to hear POCSO cases to put an end to crime against women and children. ◾ All girls studied from classes 6 to 12 in government schools would be paid Rs 1,000 till the uninterrupted completion…

EMPOWERING TAMIL NADU WITH THE DRAVIDIAN MODEL

“CONGRESS WORKERS KNOW COME WHAT MAY, GANDHIS WON’T COMPROMISE ON PARTY IDEOLOGY”

Q. Why does the Congress find itself in an existential crisis? No doubt, our electoral performance in the recent past has not been very encouraging. But it would be foolish to write us off. We got 19.5 per cent of the votes in the 2019 general election. When the BJP, after slipping to 18.8 per cent in 2009, can bounce back to its present position of strength, how can you use the phrase “existential crisis” for the Congress? We are the oldest political party in the country, steeped in a traditional political style, which was quite successful in those times. But times have changed, the tools of democracy have evolved, and so has the mode of communication with the electorate. Personally, I think we were slower than our opponents in responding…

“CONGRESS WORKERS KNOW COME WHAT MAY, GANDHIS WON’T COMPROMISE ON PARTY IDEOLOGY”

The obituary has been long in the writing, dusted off every time the Congress loses another election. Now, however, the possibility of the grand old party disappearing into oblivion has become very real. Impervious to that idea so far, the realisation is finally dawning on the Congress—that it may be on the cusp of extinction if it does not take immediate steps to avert its demise. Hence a ‘Nava Sankalpa Shivir’, a three-day brainstorming session in Rajasthan’s Udaipur from May 13 to 15. It’s the fourth such conclave since 1998, but the last one was held way back in 2013, a year before the party delivered its worst Lok Sabha performance. More than 400 Congress delegates will gather here to urgently debate strategies to combat the immediate challenges—assembly elections in…

“LEADERSHIP IS THE OMNIPRESENT BUT INVISIBLE GORILLA IN THE ROOM”

Q. Why has the Congress not tasted national or state electoral success in the past eight years? This is indeed why chintan and manthan are essential. The 10 years the UPA was in power between 2004 and 2014 consumed the collective energies of the leadership. The organisation did not get enough attention, especially from ministers in the UPA government. Much of the organisational atrophy witnessed from 1991 to 2004 could have been remedied had there been better cohesion between the Congress elements in the government and the party. Moreover, the generational change initiated in the highest echelons of leadership from 2011 onwards never fructified. A fair, transparent, and credible electoral process needs to play itself out. Those who can fight the BJP’s juggernaut 24X7 and have spent 30-40 years in the…

“LEADERSHIP IS THE OMNIPRESENT BUT INVISIBLE GORILLA IN THE ROOM”

The Long Shadow of Khalistan

IT WAS AROUND 7.45 PM on the night of May 9 when the intelligence wing headquarters of Punjab Police in scenic Mohali was suddenly rocked by a mini blast and the sound of shattered window panes. The attack, using an RPG (rocket-propelled grenade), happened when most of the sleuths had left for the day, so there were no casualties. But it again raised a security agencies bogey—the long shadow of the Khalistan movement hasn’t faded away as yet. Soon after the attack, a voice note landed at Himachal Pradesh chief minister Jai Ram Thakur’s office claiming to be from New York-based Gurpatwant Pannun, founder of the banned Khalistani outfit Sikhs for Justice. It claimed credit for the attack in Mohali and left a threat that the Shimla Police HQ could be…

The Long Shadow of Khalistan

“WHY CAN’T A 40-YEAR-OLD BE CONGRESS PRESIDENT?”

Q. Why is the Cong ress facing an existential crisis? The Congress is a natural party of governance. We know how to run a government. But when we run the government, we fail to run the party. Most senior leaders are inducted into the government and not spared for party work. When Narasimha Rao and Manmohan Singh were prime ministers, we neglected the party organisation. Because the party machinery and work were neglected, when we are in the Opposition, the party organisation has not picked up the responsibilities or carried the party’s message and narrative. Q. How do you plan a revival when the party is almost non-existent in Uttar Pradesh, Bihar, West Bengal, Telangana and Andhra Pradesh and a junior partner in Tamil Nadu and Maharashtra? These states account…

“WHY CAN’T A 40-YEAR-OLD BE CONGRESS PRESIDENT?”

KHALISTAN RELOADED

↘ BABBAR KHALSA INTERNATIONAL Led by: Wadhawa Babbar Location: Lahore, Pakistan Modus operandi: A network of criminals, gangsters, unemployed youth is used to courier counterfeit currency, drugs and ammunition. Gangster Rinda Sandhu now handles operations with Babbar providing backend support. ↘ KHALISTAN ZINDABAD FORCE Led by: Ranjeet Singh Neeta Location: Lahore Modus operandi: Has close links with Muslim radical groups including Hizbul Mujahideen. Apart from funding and providing arms to separatists in Punjab, he leads ISI’s new platform, Lashkar-e-Khalsa, which coordinates with pro-Khalistani outfits. ↘ SIKHS FOR JUSTICE Led by: Gurpatwant Pannun Location: New York, USA Modus operandi: An attorney in the US and Canada, he helps Sikh youth get asylum in these two countries. Has dedicated newsletters and videos through which he gives bounties and tasks to keep unemployed youth interested in the Khalistani…

KHALISTAN RELOADED

“CONGRESS WORKERS KNOW COME WHAT MAY, GANDHIS WON’T COMPROMISE ON PARTY IDEOLOGY”

Q. Why does the Congress find itself in an existential crisis? No doubt, our electoral performance in the recent past has not been very encouraging. But it would be foolish to write us off. We got 19.5 per cent of the votes in the 2019 general election. When the BJP, after slipping to 18.8 per cent in 2009, can bounce back to its present position of strength, how can you use the phrase “existential crisis” for the Congress? We are the oldest political party in the country, steeped in a traditional political style, which was quite successful in those times. But times have changed, the tools of democracy have evolved, and so has the mode of communication with the electorate. Personally, I think we were slower than our opponents in…

“CONGRESS WORKERS KNOW COME WHAT MAY, GANDHIS WON’T COMPROMISE ON PARTY IDEOLOGY”

DOWNFALL OF THE RAJAPAKSAS

How the mighty have fallen. For the once politically formidable Rajapaksa family in Sri Lanka, the end seems nigh. Their spectacular reversal of political fortunes, triggered by an unprecedented downturn in the economy due to mismanagement, corruption and nepotism, has been swift, but not surprising. Just two and a half years ago, in November 2019, Gotabaya Rajapaksa was elected president by an overwhelming majority. It was followed by a landslide victory for his Sri Lanka People’s Party (SLPP) in the general election in August 2020. It guaranteed him a two-thirds majority in parliament and helped him instal his older brother Mahinda as prime minister. But the two top posts in the country didn’t satisfy the Raj-apaksas—elder brother, Chamal, was made agriculture minister and younger brother Basil the finance minister. They even…

DOWNFALL OF THE RAJAPAKSAS

“LEADERSHIP IS THE OMNIPRESENT BUT INVISIBLE GORILLA IN THE ROOM”

Q. Why has the Congress not tasted national or state electoral success in the past eight years? This is indeed why chintan and manthan are essential. The 10 years the UPA was in power between 2004 and 2014 consumed the collective energies of the leadership. The organisation did not get enough attention, especially from ministers in the UPA government. Much of the organisational atrophy witnessed from 1991 to 2004 could have been remedied had there been better cohesion between the Congress elements in the government and the party. Moreover, the generational change initiated in the highest echelons of leadership from 2011 onwards never fructified. A fair, transparent, and credible electoral process needs to play itself out. Those who can fight the BJP’s juggernaut 24X7 and have spent 30-40 years in…

“LEADERSHIP IS THE OMNIPRESENT BUT INVISIBLE GORILLA IN THE ROOM”

2019 Soon after being elected president, Gotabaya Rajapaksa announces sweeping tax cuts as a populist measure. It leads to lost revenue, a credit rating downgrade and lack of access to foreign funds. Sri Lanka starts spending foreign reserves to meet debt. 2020 SLPP wins polls in August, Mahinda Rajapaksa is elected PM. Induction of brothers Chamal and Basil, Mahinda’s son Namal, in cabinet. The pan demic hits tourism revenue, exports, remittances 2021 In April, the government bans import of chemical fertilisers as move towards ‘organic agriculture’. Results in huge fall in produce, ravages farming community. FEBRUARY-MARCH 2022 Critical lack of foreign reserves leaves nation unable to pay for vital imports like food, medicines and fuel. Massive unrest gathers mass. MARCH 31 Protesters and activists try to storm residence of President Gotabaya Rajapaksa, demanding his resignation APRIL 1 As protests mount, Rajapaksa…

The Long Shadow of Khalistan

IT WAS AROUND 7.45 PM on the night of May 9 when the intelligence wing headquarters of Punjab Police in scenic Mohali was suddenly rocked by a mini blast and the sound of shattered window panes. The attack, using an RPG (rocket-propelled grenade), happened when most of the sleuths had left for the day, so there were no casualties. But it again raised a security agencies bogey—the long shadow of the Khalistan movement hasn’t faded away as yet. Soon after the attack, a voice note landed at Himachal Pradesh chief minister Jai Ram Thakur’s office claiming to be from New York-based Gurpatwant Pannun, founder of the banned Khalistani outfit Sikhs for Justice. It claimed credit for the attack in Mohali and left a threat that the Shimla Police HQ could…

The Long Shadow of Khalistan

KHALISTAN RELOADED

↘ BABBAR KHALSA INTERNATIONAL Led by: Wadhawa Babbar Location: Lahore, Pakistan Modus operandi: A network of criminals, gangsters, unemployed youth is used to courier counterfeit currency, drugs and ammunition. Gangster Rinda Sandhu now handles operations with Babbar providing backend support. ↘ KHALISTAN ZINDABAD FORCE Led by: Ranjeet Singh Neeta Location: Lahore Modus operandi: Has close links with Muslim radical groups including Hizbul Mujahideen. Apart from funding and providing arms to separatists in Punjab, he leads ISI’s new platform, Lashkar-e-Khalsa, which coordinates with pro-Khalistani outfits. ↘ SIKHS FOR JUSTICE Led by: Gurpatwant Pannun Location: New York, USA Modus operandi: An attorney in the US and Canada, he helps Sikh youth get asylum in these two countries. Has dedicated newsletters and videos through which he gives bounties and tasks to keep unemployed…

KHALISTAN RELOADED

COVID DEATHS IN INDIA: IS THE WHO RIGHT?

That there could be an empirical grey zone over such a stark and undeniable fact as mortality may seem improbable. But India is at the centre of a raging debate over precisely such a thing, with the World Health Organization (WHO) offering an estimate of Covid-19 deaths in India that’s nearly 10 times the official toll. Scepticism on official data is not an unknown sentiment at the best of times, and Covid is a particularly sensitive topic—India is not immune to the universal tendency to under-report mortality. But the jousting here is ultimately between two sets of estimates, which leaves a core question unanswered: will we ever know how many died in the pandemic? The key debate relates to methodology. India’s official Covid death toll stood at 481,000 at the end…

COVID DEATHS IN INDIA: IS THE WHO RIGHT?

DOWNFALL OF THE RAJAPAKSAS

How the mighty have fallen. For the once politically formidable Rajapaksa family in Sri Lanka, the end seems nigh. Their spectacular reversal of political fortunes, triggered by an unprecedented downturn in the economy due to mismanagement, corruption and nepotism, has been swift, but not surprising. Just two and a half years ago, in November 2019, Gotabaya Rajapaksa was elected president by an overwhelming majority. It was followed by a landslide victory for his Sri Lanka People’s Party (SLPP) in the general election in August 2020. It guaranteed him a two-thirds majority in parliament and helped him instal his older brother Mahinda as prime minister. But the two top posts in the country didn’t satisfy the Raj-apaksas—elder brother, Chamal, was made agriculture minister and younger brother Basil the finance minister. They…

DOWNFALL OF THE RAJAPAKSAS

2019 Soon after being elected president, Gotabaya Rajapaksa announces sweeping tax cuts as a populist measure. It leads to lost revenue, a credit rating downgrade and lack of access to foreign funds. Sri Lanka starts spending foreign reserves to meet debt. 2020 SLPP wins polls in August, Mahinda Rajapaksa is elected PM. Induction of brothers Chamal and Basil, Mahinda’s son Namal, in cabinet. The pan demic hits tourism revenue, exports, remittances 2021 In April, the government bans import of chemical fertilisers as move towards ‘organic agriculture’. Results in huge fall in produce, ravages farming community. FEBRUARY-MARCH 2022 Critical lack of foreign reserves leaves nation unable to pay for vital imports like food, medicines and fuel. Massive unrest gathers mass. MARCH 31 Protesters and activists try to storm residence of President…

CHOOSE YOUR INVESTMENT MINDSET

A long-term investor who has been investing for over a decade in the markets decided to redeem most of his investments at the end of March 2020 because he felt the Covid-19-induced lockdowns were the end of markets as he knew them. A retired school teacher who had never invested before decided to put all her money in the stock markets earlier this year because someone told her the cooperative bank where she had parked her money was unsafe. Why do investors behave as they do? Investor behaviour often deviates from logic and reason. A lot goes into individual decision-making—emotions, our personality, past experience and biases. Even for returns-obsessed investors, decisions on where and how they invest involve a lot more than just numbers. The human mind is biologically incapable of…

CHOOSE YOUR INVESTMENT MINDSET

COVID DEATHS IN INDIA: IS THE WHO RIGHT?

That there could be an empirical grey zone over such a stark and undeniable fact as mortality may seem improbable. But India is at the centre of a raging debate over precisely such a thing, with the World Health Organization (WHO) offering an estimate of Covid-19 deaths in India that’s nearly 10 times the official toll. Scepticism on official data is not an unknown sentiment at the best of times, and Covid is a particularly sensitive topic—India is not immune to the universal tendency to under-report mortality. But the jousting here is ultimately between two sets of estimates, which leaves a core question unanswered: will we ever know how many died in the pandemic? The key debate relates to methodology. India’s official Covid death toll stood at 481,000 at the…

COVID DEATHS IN INDIA: IS THE WHO RIGHT?

A Healthy Mix with Asset Allocation

For many people, the perception out investing is that you need to just choose a winning stock or invest in a mutual fund that has delivered stupendous returns and you are sorted. No wonder, the most common question about investing often starts with - which is the best stock or fund to invest? But the average person chasing a top performing fund or a company could end up with disappointing returns. The reason being; risk and return go hand in hand and you can't have one without the other. The challenge is to find the right balance between investments that are risky enough to provide some growth and those that are conservative enough to maintain a good night's sleep. The concept of asset allocation comes in handy to solve this problem.…

A Healthy Mix with Asset Allocation

Types of Asset Classes

Cash: The simplest and easiest asset type is cash and it is less risky, but it doesn't add any value to your money's worth when left idle. In fact, cash in the wallet, only goes down in value, in times of high inflation. Debt: Think of this asset class in the same way as a loan. When an investor purchases a debt instrument such as a bond, they essentially provide a loan to a borrower for an agreed-upon period of time. The borrower repays the loan with interest and the interest received is the return in this asset class. There are many types of debt instruments that are more popularly known as bonds. Bonds could be issued by government or corporate entities and are known as government bond and corporate bonds.…

Types of Asset Classes

ASSET ALLOCATION AT WORK

Determining your portfolio's ideal asset allocation is not a onetime set-it- and-forget-it process. It is important to regularly make sure your asset allocation is maintained. Likewise, there are moments when you may need to tweak your asset allocation to reflect your current financial situation, time horizon to reach a goal and risk tolerance. Disciplined investors strive for balance in their portfolios and herein come the concept of rebalancing, which is an important part of managing your money. Typically, when one asset class significantly outperforms another, the portfolio drifts from its starting investment mix. Unless you periodically rebalance, you may be taking more risk than suited to you. A simple way to understand rebalancing - it is buying and selling assets in your portfolio to get back to your original asset allocation…

ASSET ALLOCATION AT WORK

Factors Affecting Asset Allocation Decision

1 Financial Goals: Investors have different financial goals and they invest differently to achieve each of these goals based on the risk they can take. 2 Risk tolerance: Risk tolerance refers to how much an individual is willing and able to lose a given amount of their original investment in anticipation of getting a higher return in the future. For example, risk-averse investors favour secure, guaranteed return investments. In contrast, aggressive investors are willing to risk their investments in anticipation of higher returns. 3 Time horizon: Time to reach a goal is different and entails different risk tolerance. For example, a long-term financial goal such as retirement may prompt an investor to invest in a portfolio with higher equity exposure, since the dynamics of equity investing favours long-term investment horizon. However, investors…

Factors Affecting Asset Allocation Decision

↘ THE POLICY: Banks need to follow a comprehensive debit cards issuance policy with the approval of their boards ↘ NOT A MUST: They cannot force a customer to avail debit card facility nor link it to any bank service ↘ CO-BRANDED CARD: Such a card needs to explicitly state that it has been issued under a cobranding arrangement. The co-branding partner cannot advertise or market the cobranded card as its own product. Likewise, in all marketing and ad material, the card issuer's name should be clearly shown in case of co-branded cards ↘ DISABLING A CARD: Banks must provide options to disable a card through mobile or internet banking, SMS, IVR or any other suitable mode. Scheduled commercial banks could issue other form factors like wearables instead of a plastic debit card…

CHOOSE YOUR INVESTMENT MINDSET

A long-term investor who has been investing for over a decade in the markets decided to redeem most of his investments at the end of March 2020 because he felt the Covid-19-induced lockdowns were the end of markets as he knew them. A retired school teacher who had never invested before decided to put all her money in the stock markets earlier this year because someone told her the cooperative bank where she had parked her money was unsafe. Why do investors behave as they do? Investor behaviour often deviates from logic and reason. A lot goes into individual decision-making—emotions, our personality, past experience and biases. Even for returns-obsessed investors, decisions on where and how they invest involve a lot more than just numbers. The human mind is biologically incapable…

CHOOSE YOUR INVESTMENT MINDSET

A Healthy Mix with Asset Allocation

For many people, the perception out investing is that you need to just choose a winning stock or invest in a mutual fund that has delivered stupendous returns and you are sorted. No wonder, the most common question about investing often starts with - which is the best stock or fund to invest? But the average person chasing a top performing fund or a company could end up with disappointing returns. The reason being; risk and return go hand in hand and you can't have one without the other. The challenge is to find the right balance between investments that are risky enough to provide some growth and those that are conservative enough to maintain a good night's sleep. The concept of asset allocation comes in handy to solve this…

A Healthy Mix with Asset Allocation

ADVANTAGE CARDHOLDERS

Cards, both credit and debit, are extremely convenient. However, there are instances when these can cause headache and extreme stress. Think of the time when your card didn’t work while booking an important flight ticket or paying the school fee or when you found transactions that weren’t made by you and needed to rectify them. Every once in a while, the RBI steps in to bring some order to the chaotic card ecosystem that includes banks, NBFCs (non-banking financial companies), merchants accepting cards and card users. A recent 26-page RBI circular attempts to bring much-needed order and to address several user concerns. It will come into effect from July 1. Unsolicited cards: It is common for banks to issue credit cards and at times upgrade an existing card without one’s consent.…

ADVANTAGE CARDHOLDERS

BE PREPARED FOR AN INCREASE IN EMI

Change in interest rates, especially lending rates, is a cause of concern for borrowers when they go up. Banks have started to slowly increase their marginal cost of funds-based lending rate (MCLR) by 5-10 basis points, which has a direct impact on EMIs. The RBI in its April 8 monetary policy review signalled a shift in focus from reviving growth to reining in inflation. Ever since, the yield on the benchmark 10-year government securities has been above 7 per cent. MCLR was introduced in 2016 and arrived at based on the marginal cost for funds, especially by the deposit rate and by the repo rate. It is an internal benchmark that determines the interest rate on loans based on CRR (cash reserve ratio), loan tenure and the operating costs. Hence, any…

Types of Asset Classes

Cash: The simplest and easiest asset type is cash and it is less risky, but it doesn't add any value to your money's worth when left idle. In fact, cash in the wallet, only goes down in value, in times of high inflation. Debt: Think of this asset class in the same way as a loan. When an investor purchases a debt instrument such as a bond, they essentially provide a loan to a borrower for an agreed-upon period of time. The borrower repays the loan with interest and the interest received is the return in this asset class. There are many types of debt instruments that are more popularly known as bonds. Bonds could be issued by government or corporate entities and are known as government bond and corporate…

Types of Asset Classes

WITHIN THE SPAN OF 2 YEARS NIFTY WILL REACH 30,000

Within the span of 2 years Nifty will reach 30,000 for the reason 1. In the long run perspective, High liquidity is present in global markets so institutional investors deploy more money into markets across the world, including India.2. Fundamentals of the Indian economy remain largely intact. The future looks good to most participants in the market. Good companies are likely to do well and more good companies are likely to enter equity markets.3. It's not all speculation, though Equity remains the best way to grow wealth across the world and across investment asset classes that seem to be fuelling the record highs we see4. The recent financial results declared by corporate India were surprisingly good. These did give hope to market players that, just maybe, India Inc. can do much…

WITHIN THE SPAN OF 2 YEARS NIFTY WILL REACH 30,000

ASSET ALLOCATION AT WORK

Determining your portfolio's ideal asset allocation is not a onetime set-it- and-forget-it process. It is important to regularly make sure your asset allocation is maintained. Likewise, there are moments when you may need to tweak your asset allocation to reflect your current financial situation, time horizon to reach a goal and risk tolerance. Disciplined investors strive for balance in their portfolios and herein come the concept of rebalancing, which is an important part of managing your money. Typically, when one asset class significantly outperforms another, the portfolio drifts from its starting investment mix. Unless you periodically rebalance, you may be taking more risk than suited to you. A simple way to understand rebalancing - it is buying and selling assets in your portfolio to get back to your original asset…

ASSET ALLOCATION AT WORK

DEBT FUND RISKS

↘ INTEREST RATE They are not static, and can rise and fall. Also, interest rate and portfolio values (NAV) move in opposite directions, which means when interest rates fall, NAVs go up and vice versa ↘ CREDIT RISK This is about the bond issuer not returning the coupon income and/or maturity proceeds on the specified dates as mentioned in the bond. No such risk in funds that invest in government securities ↘ LIQUIDITY RISK This happens if the bond is not tradable at fair value or faces major redemption in adverse market conditions…

Factors Affecting Asset Allocation Decision

1 Financial Goals: Investors have different financial goals and they invest differently to achieve each of these goals based on the risk they can take. 2 Risk tolerance: Risk tolerance refers to how much an individual is willing and able to lose a given amount of their original investment in anticipation of getting a higher return in the future. For example, risk-averse investors favour secure, guaranteed return investments. In contrast, aggressive investors are willing to risk their investments in anticipation of higher returns. 3 Time horizon: Time to reach a goal is different and entails different risk tolerance. For example, a long-term financial goal such as retirement may prompt an investor to invest in a portfolio with higher equity exposure, since the dynamics of equity investing favours long-term investment horizon.…

Factors Affecting Asset Allocation Decision

ADVANTAGE CARDHOLDERS

Cards, both credit and debit, are extremely convenient. However, there are instances when these can cause headache and extreme stress. Think of the time when your card didn’t work while booking an important flight ticket or paying the school fee or when you found transactions that weren’t made by you and needed to rectify them. Every once in a while, the RBI steps in to bring some order to the chaotic card ecosystem that includes banks, NBFCs (non-banking financial companies), merchants accepting cards and card users. A recent 26-page RBI circular attempts to bring much-needed order and to address several user concerns. It will come into effect from July 1. Unsolicited cards: It is common for banks to issue credit cards and at times upgrade an existing card without one’s…

ADVANTAGE CARDHOLDERS

INVESTING FOR A STEADY INCOME

When it comes to mutual fund (MF) investing, most people assume equity is the only way to go. But there is a range of debt funds with varying degree of risks and time-frames to invest. Debt funds work on the principal of traditional debt instruments such as bank fixed deposits, small savings schemes and other bonds that provide a fixed interest payout. Debt funds invest in debt or fixed income securities of various corporate institutions and the government and are also known as income funds. But this doesn’t mean that debt funds are immune to ups and downs or guarantee fixed returns like, say, FDs. Many of the instruments debt funds invest in, such as corporate bonds, PSU bonds, debentures, commercial papers, treasury bills etc. are not always open to individual…

INVESTING FOR A STEADY INCOME

COPING WITH RISING PREMIUMS

Insurance advertising mostly revolves around a morbid setting or showcases a situation where the target audience visualises the financial pain they would face in the absence of insurance. This approach works because of people's loss aversion bias. In the case of life insurance, family members are shown thanking their loved ones who left them financially secure. The fear of death and disease have made both life and health insurance sales spike in the past two years because of the ongoing pandemic. No doubt life and health insurance are essential, but one should consider the extent of cover one actually needs. One should also find the kind of policy that would best help them or their dependants when the benefits come into play in a hassle-free manner. There is a cost the…

COPING WITH RISING PREMIUMS

↘ THE POLICY: Banks need to follow a comprehensive debit cards issuance policy with the approval of their boards ↘ NOT A MUST: They cannot force a customer to avail debit card facility nor link it to any bank service ↘ CO-BRANDED CARD: Such a card needs to explicitly state that it has been issued under a cobranding arrangement. The co-branding partner cannot advertise or market the cobranded card as its own product. Likewise, in all marketing and ad material, the card issuer's name should be clearly shown in case of co-branded cards ↘ DISABLING A CARD: Banks must provide options to disable a card through mobile or internet banking, SMS, IVR or any other suitable mode. Scheduled commercial banks could issue other form factors like wearables instead of a…

BE PREPARED FOR AN INCREASE IN EMI

Change in interest rates, especially lending rates, is a cause of concern for borrowers when they go up. Banks have started to slowly increase their marginal cost of funds-based lending rate (MCLR) by 5-10 basis points, which has a direct impact on EMIs. The RBI in its April 8 monetary policy review signalled a shift in focus from reviving growth to reining in inflation. Ever since, the yield on the benchmark 10-year government securities has been above 7 per cent. MCLR was introduced in 2016 and arrived at based on the marginal cost for funds, especially by the deposit rate and by the repo rate. It is an internal benchmark that determines the interest rate on loans based on CRR (cash reserve ratio), loan tenure and the operating costs. Hence,…

DEDUCTIBLE AND CO-PAY

Deductible is like self-insurance to a limit, and only when your claim exceeds that limit does the insurer pay for the claim. For instance, in case of a health insurance policy, with `1 lakh deductible and `1.2 lakh as the claim, the insurer pays `20,000 claim, with the rest absolved by the policyholder. In such cases, if the claim is under `1 lakh, the insurer has nothing to pay for. By opting for such self-insurance, the policyholder gets a significant discount on the premium. This strategy is good to adopt if you have the financial power to manage the self-insurance to the required threshold. Co-pay in health insurance is a fixed sum that the policyholder has to pay for a covered medical service and the insurer takes care of the rest…

WHAT IS THE DIFFERENCE BETWEEN STOCKS AND MUTUAL FUNDS?

Invest in stocks or mutual funds (MFs)—this is a question that crosses the minds of most investors. There is no either/or response and depending on what investors expect to achieve from both these instruments, they can choose the one that is most suitable. An easy way to understand the difference between the two is a meal at a gourmet restaurant versus one at a fast food joint. Mutual funds are like fast food—well packaged, offering a mix that can help you quickly address your hunger. Stocks, on the other hand, like a gourmet meal, involve a lot of intricate steps in preparation. At a fundamental level, when you invest in a stock, you invest in a company, a business, which means your investments solely depend on how the company fares. In…

WHAT IS THE DIFFERENCE BETWEEN STOCKS AND MUTUAL FUNDS?

INVESTING FOR A STEADY INCOME

When it comes to mutual fund (MF) investing, most people assume equity is the only way to go. But there is a range of debt funds with varying degree of risks and time-frames to invest. Debt funds work on the principal of traditional debt instruments such as bank fixed deposits, small savings schemes and other bonds that provide a fixed interest payout. Debt funds invest in debt or fixed income securities of various corporate institutions and the government and are also known as income funds. But this doesn’t mean that debt funds are immune to ups and downs or guarantee fixed returns like, say, FDs. Many of the instruments debt funds invest in, such as corporate bonds, PSU bonds, debentures, commercial papers, treasury bills etc. are not always open to…

INVESTING FOR A STEADY INCOME

ANALYSING INVESTMENT RETURNS

ROLLING RETURNS: It measures the average annualised returns over a specific period of time. It is helpful in gauging an investment’s historical performance. Rolling return data for 10 years for the S&P BSE Sensex between January 1, 2010 and January 1, 2022 would cover the time between January 1, 2010 and January 1, 2020 after which you move the data by a year between January 1, 2011 and January 1, 2021 and finally January 1, 2012 and January 1, 2022. For extremely long periods, say, the 43 years between January 1, 1980 and January 1, 2022 for the Sensex, there will be 33 different 10-year periods. Rolling returns measure the daily, weekly and monthly performance of any financial instrument, be it stocks, mutual funds or indices, from the start and end dates…

ANALYSING INVESTMENT RETURNS

HOW SMART ARE YOU?

BEGINNER Q1. What is the goal of life insurance? a) Make your family wealthy b) Financial security for your family c) Pay for emergency medical expenses Q2. LIC of India is? a) Life Insurance Company b) Life Insurance Corporation c) Life Insurance Committee Q3. Premium is? a)The bonus from the policy b) What you get from the insurance company c) What you pay for the policy Q4. Life insurance came to India from a) USA b) Singapore c) United Kingdom d) Russia Q5. Insured is the person who is? a) Employed by the insurer b) The person whose name is in the policy c) The nominee in the policy Q6. When can insurance premiums be paid? a) One time at the time of purchase b) Annually/Half-yearly/Quarterly/Monthly/One-time c) As and when you feel like INTERMEDIATE Q1. Life insurance can be taken by? a) Men; b) Womenc c) Both Q2. Life insurance is regulated by? a) CII; b) IRDAI; c) IRDA Q3. You…

HOW SMART ARE YOU?

DEBT FUND RISKS

↘ INTEREST RATE They are not static, and can rise and fall. Also, interest rate and portfolio values (NAV) move in opposite directions, which means when interest rates fall, NAVs go up and vice versa ↘ CREDIT RISK This is about the bond issuer not returning the coupon income and/or maturity proceeds on the specified dates as mentioned in the bond. No such risk in funds that invest in government securities ↘ LIQUIDITY RISK This happens if the bond is not tradable at fair value or faces major redemption in adverse market conditions…

IN DEPTH KNOWLEDGE FROM THE MOST CREDIBLE SOURCE

Subscribe and get upto 55% discount YES! I WISH TO SUBSCRIBE TO INDIA TODAY Please tick your subscription choice and send the form to: We Care, Living Media India Limited, C-9, Sector 10, Noida-201301 (India) SCAN HERE TO SUBSCRIBE FOR MORE DETAILS ON THE OFFER, YOU MAY CONTACT THROUGH BELOW OPTIONS CALL us on Toll Free No. 18001800100 and (0120) 2479900 E-MAIL wecare@intoday.com LOG ON TO www.indiatoday.in/subscribe Whatsapp"Hi" to +91 73030 86006 Living Media India Ltd. reserves the right to terminate or extend this offer or any part thereof at any time. For other terms and conditions, please visit www.indiatoday.in IRS 2019 Q4 (TR)…

IN DEPTH KNOWLEDGE FROM THE MOST CREDIBLE SOURCE

COPING WITH RISING PREMIUMS

Insurance advertising mostly revolves around a morbid setting or showcases a situation where the target audience visualises the financial pain they would face in the absence of insurance. This approach works because of people's loss aversion bias. In the case of life insurance, family members are shown thanking their loved ones who left them financially secure. The fear of death and disease have made both life and health insurance sales spike in the past two years because of the ongoing pandemic. No doubt life and health insurance are essential, but one should consider the extent of cover one actually needs. One should also find the kind of policy that would best help them or their dependants when the benefits come into play in a hassle-free manner. There is a cost…

COPING WITH RISING PREMIUMS

DEDUCTIBLE AND CO-PAY

Deductible is like self-insurance to a limit, and only when your claim exceeds that limit does the insurer pay for the claim. For instance, in case of a health insurance policy, with `1 lakh deductible and `1.2 lakh as the claim, the insurer pays `20,000 claim, with the rest absolved by the policyholder. In such cases, if the claim is under `1 lakh, the insurer has nothing to pay for. By opting for such self-insurance, the policyholder gets a significant discount on the premium. This strategy is good to adopt if you have the financial power to manage the self-insurance to the required threshold. Co-pay in health insurance is a fixed sum that the policyholder has to pay for a covered medical service and the insurer takes care of the…

Player of our Heartstrings

It was in 1958 that Shivji and I met for the first time in Delhi’s Talkatora Stadium. I remember we were both there for an inter-collegiate meet, he as a participant and me as an accompanist. Even though we were friendly then, we truly became friends a few months later when I met him in Bombay. At that point, he’d just finished his education in Jammu and had come to Bombay looking for work. Since he could play both the santoor and the tabla, he had an ear for swara (chords) and also lay (rhythm). Bombay is like a great ocean. It’s a city you can easily get lost in. The thing about Shivji, however, was that he was so nice and noble, and, also, so well-educated, that it didn’t take…

WHAT IS THE DIFFERENCE BETWEEN STOCKS AND MUTUAL FUNDS?

Invest in stocks or mutual funds (MFs)—this is a question that crosses the minds of most investors. There is no either/or response and depending on what investors expect to achieve from both these instruments, they can choose the one that is most suitable. An easy way to understand the difference between the two is a meal at a gourmet restaurant versus one at a fast food joint. Mutual funds are like fast food—well packaged, offering a mix that can help you quickly address your hunger. Stocks, on the other hand, like a gourmet meal, involve a lot of intricate steps in preparation. At a fundamental level, when you invest in a stock, you invest in a company, a business, which means your investments solely depend on how the company fares.…

WHAT IS THE DIFFERENCE BETWEEN STOCKS AND MUTUAL FUNDS?

Born on January 13, 1938, Shivkumar Sharma was only five when his father Uma Dutt Sharma started giving him vocal and tabla lessons. Growing up, his favourite pieces of music were Ustad Bade Ghulam Ali Khan’s renditions of Kedar and Jaijaivanti Sharma was 12 when he started learning the santoor; in 1955, he gave his first live performance. The one-hour-long rendition of Raga Yaman left his audience in Mumbai shouting ‘Encore!’ In 1955, Sharma even composed the background music for one of the scenes in V. Shantaram’s blockbuster hit, Jhanak Jhanak Payal Baje In 1960, a 22-year-old Sharma left Jammu for Bombay, determined to make a career in music Call of the Valley (1967), the first album Sharma and flautist Hariprasad Chaurasia released together, became HMV’s bestselling classical record in India Sharma’s 1968 concert in…

THIS DOG IS HAVING ITS DAY

In canine lineages, one can follow traces of human endeavour, as packs of dogs followed groups of people into new lands. A similar pattern has had some surprising consequences in a parched corner of the Deccan plateau where a distinctive breed of dogs has enlivened a struggling rural economy. A keen look framed by a narrow muzzle, a proud, tall bearing supported by spindly, strong legs, a stomach that curves inward in an ‘s’, and a latent fierceness it’s too glad to exhibit—you just cannot miss a Pashmi. In its menacing growl, owners read an ironcast guarantee. At Janwal village in Maharashtra’s Latur district, the stone-walled house of farmer Tanaji Pawar is stacked with sacks of soyabean and jowar. With the first spells of rain, sowing for the kharif season will…

THIS DOG IS HAVING ITS DAY

ANALYSING INVESTMENT RETURNS

ROLLING RETURNS: It measures the average annualised returns over a specific period of time. It is helpful in gauging an investment’s historical performance. Rolling return data for 10 years for the S&P BSE Sensex between January 1, 2010 and January 1, 2022 would cover the time between January 1, 2010 and January 1, 2020 after which you move the data by a year between January 1, 2011 and January 1, 2021 and finally January 1, 2012 and January 1, 2022. For extremely long periods, say, the 43 years between January 1, 1980 and January 1, 2022 for the Sensex, there will be 33 different 10-year periods. Rolling returns measure the daily, weekly and monthly performance of any financial instrument, be it stocks, mutual funds or indices, from the start and…

ANALYSING INVESTMENT RETURNS

HOW SMART ARE YOU?

BEGINNER Q1. What is the goal of life insurance? a) Make your family wealthy b) Financial security for your family c) Pay for emergency medical expenses Q2. LIC of India is? a) Life Insurance Company b) Life Insurance Corporation c) Life Insurance Committee Q3. Premium is? a)The bonus from the policy b) What you get from the insurance company c) What you pay for the policy Q4. Life insurance came to India from a) USA b) Singapore c) United Kingdom d) Russia Q5. Insured is the person who is? a) Employed by the insurer b) The person whose name is in the policy c) The nominee in the policy Q6. When can insurance premiums be paid? a) One time at the time of purchase b) Annually/Half-yearly/Quarterly/Monthly/One-time c) As and when…

HOW SMART ARE YOU?

↘ PASHMI: Its name originates from ‘Pashtun’, inhabitants of Afghanistan. The hairy breed has been in the Deccan for over a century. Intelligent and loyal, a Pashmi can even take on a wild boar. ↘ CARAVAN: With its tucked waist and deep chest, this slender dog is a favourite of hunters. It can outpace a Chinkara deer and is faster than a German Shepherd. ↘ SALUKI: It is considered an upgraded version of the Caravan, also known as the Persian Greyhound. Villagers in Latur and Osmanabad have developed a fondness for Salukis in recent years.…

IN DEPTH KNOWLEDGE FROM THE MOST CREDIBLE SOURCE

Subscribe and get upto 55% discount YES! I WISH TO SUBSCRIBE TO INDIA TODAY Please tick your subscription choice and send the form to: We Care, Living Media India Limited, C-9, Sector 10, Noida-201301 (India) SCAN HERE TO SUBSCRIBE FOR MORE DETAILS ON THE OFFER, YOU MAY CONTACT THROUGH BELOW OPTIONS CALL us on Toll Free No. 18001800100 and (0120) 2479900 E-MAIL wecare@intoday.com LOG ON TO www.indiatoday.in/subscribe Whatsapp"Hi" to +91 73030 86006 Living Media India Ltd. reserves the right to terminate or extend this offer or any part thereof at any time. For other terms and conditions, please visit www.indiatoday.in IRS 2019 Q4 (TR)…

IN DEPTH KNOWLEDGE FROM THE MOST CREDIBLE SOURCE

HOW TO MAKE THE RIGHT CHOICE

A career is a job, an occupation, thats undertaken for a major period of person's life. And therefore, making a career choice often ecomes a difficult one. What should you focus on? Your dreams or your parents' wishes? A job that you may excel in or are passionate about, or a job that promises a handsome salary and good growth? A career that suits your own capabilities and taste, or a job that is alluring and glamorous? So many questions perplex the students as they walk out of school. Making the right choice becomes a herculean task - more so, because of the multitude of career options out there in the market. After investing a decade and a half or more in education, it is not surprising that students want…

HOW TO MAKE THE RIGHT CHOICE

Player of our Heartstrings

It was in 1958 that Shivji and I met for the first time in Delhi’s Talkatora Stadium. I remember we were both there for an inter-collegiate meet, he as a participant and me as an accompanist. Even though we were friendly then, we truly became friends a few months later when I met him in Bombay. At that point, he’d just finished his education in Jammu and had come to Bombay looking for work. Since he could play both the santoor and the tabla, he had an ear for swara (chords) and also lay (rhythm). Bombay is like a great ocean. It’s a city you can easily get lost in. The thing about Shivji, however, was that he was so nice and noble, and, also, so well-educated, that it didn’t take…

DELHI GOVERNMENT'S INTERVENTION GAINS TRACTION AMONG YOUTH AND INDUSTRY

“The only objective of establishing Delhi Skill and Entrepreneurship University is to ensure every student of this University who wants a job, gets it, and those who want to do business are equipped with practical knowledge to start it right after their graduation.” Why are crores of Indians not able to find meaningful employment? Why is India's labour force participation decreasing, instead of increasing in the last few years? Despite being the fastest-growing economy in the world, why is the country unable to engage its youth properly? While there are many factors that have contributed to the current situation, it's hard to look beyond the obvious skill-set gap between college education and the demand of the industry. According to India Skills Report 2022, only 48% of the youth of India is employable. Even…

DELHI GOVERNMENT'S INTERVENTION GAINS TRACTION AMONG YOUTH AND INDUSTRY

Born on January 13, 1938, Shivkumar Sharma was only five when his father Uma Dutt Sharma started giving him vocal and tabla lessons. Growing up, his favourite pieces of music were Ustad Bade Ghulam Ali Khan’s renditions of Kedar and Jaijaivanti Sharma was 12 when he started learning the santoor; in 1955, he gave his first live performance. The one-hour-long rendition of Raga Yaman left his audience in Mumbai shouting ‘Encore!’ In 1955, Sharma even composed the background music for one of the scenes in V. Shantaram’s blockbuster hit, Jhanak Jhanak Payal Baje In 1960, a 22-year-old Sharma left Jammu for Bombay, determined to make a career in music Call of the Valley (1967), the first album Sharma and flautist Hariprasad Chaurasia released together, became HMV’s bestselling classical record in…

THIS DOG IS HAVING ITS DAY

In canine lineages, one can follow traces of human endeavour, as packs of dogs followed groups of people into new lands. A similar pattern has had some surprising consequences in a parched corner of the Deccan plateau where a distinctive breed of dogs has enlivened a struggling rural economy. A keen look framed by a narrow muzzle, a proud, tall bearing supported by spindly, strong legs, a stomach that curves inward in an ‘s’, and a latent fierceness it’s too glad to exhibit—you just cannot miss a Pashmi. In its menacing growl, owners read an ironcast guarantee. At Janwal village in Maharashtra’s Latur district, the stone-walled house of farmer Tanaji Pawar is stacked with sacks of soyabean and jowar. With the first spells of rain, sowing for the kharif season…

THIS DOG IS HAVING ITS DAY

PRIVATE UNIVERSITIES THAT ARE BRINGING QUALITY IN INDIAN HIGHER EDUCATION

TOP PRIVATE UNIVERSITIES IN INDIA AND HOW SOME OF THESE UNIVERSITIES HAVE ADAPTED TO TECHNOLOGY AND BRINGING EXPERIENTIAL LEARNING TO CLASSROOMS. EXPERIENTIAL LEARNING AND DIGITAL INFRASTRUCTURE In the face of this upheaval, the academic institutions that had developed familiarity with the remote learning tools in the pre-pandemic period itself, found themselves with an edge over the others. Spearheading the list of the Indian Universities reaping the early movers advantage were, Galgotias University, Manipal Academy of Higher Education, BITS, J.S.S. Academy of Technical Education, the LNM Institute of Information Technology, Dr. D. Y. Patil Vidyapeeth, Nirma University, Amrita Vishwa Vidyapeetham and Symbiosis International. Learning through experience is not a new concept for the college classroom and some of these top universities are adopting these innovative practices in the classrooms to engage and make…

PRIVATE UNIVERSITIES THAT ARE BRINGING QUALITY IN INDIAN HIGHER EDUCATION

THE JOYS OF SORROW

Arooj Aftab isn’t one to be awed by occasion. When invited by the White House to celebrate Eid ul-Fitr earlier this month, the singer had little idea she would be sharing the presidential podium with Joe and Jill Biden. Speaking to INDIA TODAY last week, she said her experience reminded her of the political satire series Veep. “It is exactly like that—the interactions, protocol, comedy, the dynamics. It is serious and also normal. I read a poem by Rumi. It was full-on. It was fun. It was also really crazy.” This wasn’t the first time Aftab had been on the radar of an American president. Barack Obama’s 2021 summer playlist had included ‘Mohabbat’, arguably the most popular track from Vulture Prince, an album Aftab released last year. Written by Hafeez Hoshiarpuri,…

THE JOYS OF SORROW

BREEDING GROUNDS

₹2.5 lakh Average income earned by the dog breeders of Janwal ₹15,000 Average price of a puppy 3 months Average breeding season for the Caravan 50 No. of dog breeders in Janwal and Mhalangi 1 month Average breeding season for the Pashmi…

BREEDING GROUNDS

HOW THE WEST WAS WON

1955 When sarod maestro Ali Akbar Khan went to the US for the first time, he was struck by how westerners found it hard to believe that India had its own music. Released in 1955, the success of Music of India prompted HMV India to start producing LP-length Hindustani classical recordings. 1966 Marked by rapturous applause and rave reviews, M.S. Subbulakshmi’s UN concert in October 1966 was surely historic, but her travel history also proves that the ‘first lady of Carnatic music’ had by then already filled concert halls from Edinburgh to Boston. 1967 Released in 1967, East Meets West went on to win its two collaborators—violinist Yehudi Menuhin and sitarist Ravi Shankar—a Grammy Award. Not just was Shankar the first Asian musician to win a Grammy, his influence abroad began to spread fast. 1974 After his…

HOW THE WEST WAS WON

↘ PASHMI: Its name originates from ‘Pashtun’, inhabitants of Afghanistan. The hairy breed has been in the Deccan for over a century. Intelligent and loyal, a Pashmi can even take on a wild boar. ↘ CARAVAN: With its tucked waist and deep chest, this slender dog is a favourite of hunters. It can outpace a Chinkara deer and is faster than a German Shepherd. ↘ SALUKI: It is considered an upgraded version of the Caravan, also known as the Persian Greyhound. Villagers in Latur and Osmanabad have developed a fondness for Salukis in recent years.…

ONE STEP IN THEIR SHOES

The 23 still images on display in PhotoInk’s garden-set gallery space in Delhi’s Vasant Kunj are a balm for tired eyes. The black and white—and certainly over fifty shades of grey—help recuperate from the nonstop ocular assault of lives lived on multicoloured moving screens. But the healing and stillness The Passerby offers come from something more than form. Street scenes picked from the archives of Raghu Rai, Sooni Taraporevala, Ketaki Sheth and Pablo Bartholomew, these formally stunning photographs paint a portrait of an urban India that’s swiftly passing (if not already past). They range from 1970 to the early 2000s, but the pre-liberalisation era dominates, letting a quiet nostalgia wash over us. The street scene has historically been among the most popular photographic genres, the PhotoInk brochure points out, and is…

ONE STEP IN THEIR SHOES

HOW TO MAKE THE RIGHT CHOICE

A career is a job, an occupation, thats undertaken for a major period of person's life. And therefore, making a career choice often ecomes a difficult one. What should you focus on? Your dreams or your parents' wishes? A job that you may excel in or are passionate about, or a job that promises a handsome salary and good growth? A career that suits your own capabilities and taste, or a job that is alluring and glamorous? So many questions perplex the students as they walk out of school. Making the right choice becomes a herculean task - more so, because of the multitude of career options out there in the market. After investing a decade and a half or more in education, it is not surprising that students want…

HOW TO MAKE THE RIGHT CHOICE

Photo Synthesis

You might think there can be nothing really novel about a Mumbai photobook anymore, but ad filmmaker Sunhil Sippy makes a compelling case for his newly released collection of photos, The Opium of Time: Photographs of Mumbai 2010-2020: “I would say that the book is relevant because of the period it covers—from 2010 till 2020. Since the pandemic, the city’s topography has evolved radically. The book celebrates the last phase of the old city.” Sippy tells us the title ‘The Opium of Time’ is borrowed from German writer W.G. Sebald. He feels it perfectly sums up his 131 images. “My objective was to create something timeless. I wanted to leave behind for the city an emotional document, not an intellectual one,” he says. The Opium of Time, says Sippy, 50, resulted…

Photo Synthesis

In 2018, ShaunakSen was in Cambridge for a brief fellow-w ship. Speaking about Delhi with his friend and faculty member Maan Barua one day, Sen, a film-maker, envisioned the city—grey, hazy, monotone skies, filled with noxious air. “It was this feeling I was interested in,” says Sen. His thoughts eventually morphed into his second film, All That Breathes. The documentary has been one of India’s most successful exports this year. Having won the World Documentary Grand Jury Prize at the 2022 Sundance Film Festival, it has now also been selected for a special screening at Cannes 2022 (May 17-28). After discovering Saud and Nadeem, two Delhi-based brothers who had devoted their lives to protecting Black Kites, Sen began filming them in early 2019. Trying to craft a hybrid visual language that…

TWO SISTERS AND A HUSBAND Premiering at this year’s Tribeca Film Festival (June 8-19), Shlok Sharma’s Two Sisters and a Husband makes suspenseful a love triangle: Amrita (Manya Grover) is in love with Rajat (Dinker Sharma), but when he marries her sister Tara (Avani Rai), what will she now do with his child she is pregnant with? SHOEBOX A highlight of the ongoing New York Indian Film Festival, Faraz Ali’s Shoebox shows how a x daughter fights to save her father’s single-screen theatre in Allahabad. Set during the time of the city’s renaming as Prayagraj, the film makes all change—personal, political—seem charged like dynamite. JAGGI Having premiered at the Indian Film Festival of Los Angeles, Anmol Sidhu’s Jaggi returned i with two awards earlier this month—Best Feature Film Debut and the Audience Choice Award for…

DELHI GOVERNMENT'S INTERVENTION GAINS TRACTION AMONG YOUTH AND INDUSTRY

“The only objective of establishing Delhi Skill and Entrepreneurship University is to ensure every student of this University who wants a job, gets it, and those who want to do business are equipped with practical knowledge to start it right after their graduation.” Why are crores of Indians not able to find meaningful employment? Why is India's labour force participation decreasing, instead of increasing in the last few years? Despite being the fastest-growing economy in the world, why is the country unable to engage its youth properly? While there are many factors that have contributed to the current situation, it's hard to look beyond the obvious skill-set gap between college education and the demand of the industry. According to India Skills Report 2022, only 48% of the youth of India…

DELHI GOVERNMENT'S INTERVENTION GAINS TRACTION AMONG YOUTH AND INDUSTRY

TRAUMA’S ETERNAL RETURN

In one of the more affecting scenes in I’m Not the River Jhelum’s, we see a couple of Kashmiri locals watch home minister Amit Shah read the statutory resolution which revoked Jammu & Kashmir’s special status. As the Opposition’s heckles drown out Shah’s voice, the two Kashmiris look on with a palpable dread. Kashmir changes quickly, and yet, seemingly, never does. It is for capturing this and so many other ironies that Prabhash Chandra won a Best Debut India Director award at this year’s International Film Festival of Kerala (IFFK). Speaking to INDIA TODAY a few days after River Jhelum was screened at the Kolkata International Film Festival on April 29, Chandra tells us how he fell in love with theatre despite having a Master’s degree in Nuclear Physics. “My inclination…

TRAUMA’S ETERNAL RETURN

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