Issuu

Vol 9 Issue No.112 Jan - Feb 2021 USD 0.70`50AED 5BD 0.500

CONVERTING LARGE NBFCS TO BANKS: IS IT WARRANTED?

Shri V.P. Nandakumar, MD & CEO, Manappuram Finance Ltd.

THE Brand New You Dr. Fathima Nilufer Sheriff, CEO- HairFair Skin Clinic

M O T O R S

SREE

94958 40000 96772 15555

Jebitha Ajit Director & CEO Editor Jebitha Ajit Legal Advisor Latha Anand B.S.Krishnan Associates bskrishnanassociates@gmail.com Success isn’t about how much money you make, it’s Sub-Editor Vignesh S.G about the difference you make in people’s lives” – Associate Editor Ravi Saini Michelle Obama Rajeev Kumar An exclusive interview with Dr. Nilufer Sheriff, the Director and special editor kollur Chief Executive Officer of HairFair Skin Clinic, a highly Correspondents Dr. Thomas Nechupadam reputed beauty clinic located in this part of the world, Vivek Venugopal- Quarter Mile is the cover story of this edition. Her success story can Amrutha V Kumar inspire the women population of the country, which Creative Design PEGASUS urgently needs a true role model like this legendary Cover Photographer Ashique Hassan businesswoman. Marketing UAE This time, Manappuram Finance Limited MD and Phygicart.com CEO V P Nandakumar expresses for the first time his P.O. Box: 92546, Al Karama Dubai valuable opinion on whether large non-banking finanMr. Anish K Joy cial companies should convert themselves into banks. Mob: +971528946999 The edition’s travel article can gift a truly differ info@phygicart.com ent experience to our readers. This month, a holiday Plot No 19A, 9th Floor, destination in Europe, North Macedonia, is explored. Green Building, Film City, Our auto expert, this edition, introduces us to a Sector - 16A, Noida - 201301 luxury car, Porsche 911. The expert explains every Maharashtra minute characteristic of this amazing luxury car with Jayasankar M, a/101, immense dedication. New Prathamesh Niwas, Apart from the said articles, the edition has all our OPP. Laxmi Park, Thakurli East, regulars from beauty, movie review and book review to Dombivli post, Thane District, 421201 motivation and business. Mob: 9820708662 ‘Reading is a way to expand the mind, open eyes, Hariharan and fill up hearts.’ chennai, Mob: 9840018929 Unique Times, No.6/31, Enjoy Reading! Arunachalam main road, Saligramam, Chennai – 600093 Thank You Karnataka Sd/ Paperback Publishing Jebitha Ajit 3218/A, 6th C Main, 13th Cross, HAL 2nd stage, Indiranagar Bengaluru 560038 Andhrapradesh PEGASUS Ph: 09288800999 Sunilkumar NN Your wing Vineeth Nair Director Ambalika Saikia, Ambalika_saikia@yahoo.com

Editorial “

Printed at St. Reddiar & Sons, P.B. No: 3627, Veekshanam Road, Cochin Published at Pegasus Global Pvt. Ltd. L5-106, Changampuzha Nagar Kalamassery, Ernakulam-682 033 e-mail: editor@uniquetimes.org uniquetimesindia@gmail.com Ph:0484 2532040, 2532080 Mob:9288800999

Cover Photograph Dr. Fathima Nilufer Sheriff, CEO- HairFair Skin Clinic

Printer & publisher Pegasus Global Pvt. Ltd. Cochin (682033) on behalf of Ajit Ravi. Printed at S.T.Reddiar & Sons, Cochin-18.

CONTENTS

The brand new you

Converting large NBFCs to banks: is it warranted?

The disruptive year that was - 2020

2020 – few interesting judgments from the hon’ble supreme court

Tackling Benign Paroxysmal Positional Vertigo

50 52 54 58

Gadgets Natural tips to reduce gray hair A Holiday Destination in Europe: North Macedonia Porsche 911

UNIQUE DIARY

Vehicle manufactures see positive future

here is no doubt that vehicle manufactures in the country expect to witness a positive future. The confidence has been gifted to them by the positive response they witnessed in the previous year. The majority of vehicle manufactures in the country ended the gone year in a positive mood. Though the country witnessed a serious economic slowdown in the previous year due to the virus crisis, towards the end of the gone year the vehicle manufacturing industry jumped back to the track of growth. Maruti Suzuki, one of the popular vehicle manufacturers in the country, has voiced hope in the potential of the present year to undo the wrongs of the previous year.

Ford, Mahindra decide not to go ahead with joint venture agreement

“I think in business you have to learn to be patient. Maybe I’m not very patient myself. But I think that I’ve learned the most is be able to wait for something and get it when it’s the right time.” Bernard Arnault

January - February 2021

utomobile manufacturing giants, Ford Motor Company and Mahindra & Mahindra Ltd, have decided not to go ahead with the joint venture agreement the companies reached in the year 2019 to strengthen the performance of both the companies in India as well as abroad. The latest decision has been justified, saying that it would help both the conglomerates to address the present reality rightly. M & M, which is a dominant power in the SUV sector in the country, has announced its intention to concentrate more on Electric SUVs and gasoline engines. Both the companies have asserted that the decision would not affect their operation in the country.

UNIQUE DIARY

India witnesses 21 per cent growth in FDI inflow in April-October

he Asian country of India, which is considered by many as an alternative investment location to the communist country of China, has witnessed an impressive growth of 21 per cent in the Foreign Direct Investment equity inflow in the April-October period of the present Financial Year. The inflow has grown to $35.33 billion compared to $29.31 billion a year earlier. Singapore, the US, the UK, the Netherlands, Mauritius, France and Japan are the main countries which have played a key role in this growth. In the recent past, the country removed several red tapes around the area of foreign investment in order to make maximum benefit from the changed global political scenario - in the wake of trade war between the US and China.

IDBI sells 23 per cent in insurance venture to foreign partner

“We cannot limit ourselves to continuing on the path we have already opened.” Amancio Ortega

January - February 2021

ndustrial Development Bank of India (IDBI) bank, which is at present controlled by Life Insurance Corporation, has sold around 23 per cent stake in its life insurance venture to its foreign partner, Ageas Insurance International. The deal has been inked for Rs. 507 crore. It has increased the stake of the Belgian based company in the insurance venture of the IDBI, IDBI Federal Life Insurance Co. Ltd, to around 49 per cent. The deal has reduced the holding of the bank in the venture to around 25 per cent. The bank is likely to sell around 4 per cent of its stake to another partner Federal Bank.

Hero Cycles demands Govt support to overcome supply chain disruption

ero Cycles, a popular bicycle manufacturer based in the country, has requested the support of the government to overcome the trouble caused due to the supply chain disruption. The virus outbreak crisis has adversely affected the inflow of raw materials from China. The company considers the localisation of raw materials as a solution to the present crisis. In the appeal, the company has highlighted the point clearly. The demand for bicycles and e-bikes has been consistently increasing for last few years. The trend is likely to continue unhindered in the coming years also. The country is likely to show a positive sign to the appeal.

Hackers infiltrate into IndiGo’s servers

“Dream audaciously. Have the courage to fail forward. Act with urgency” Phil Knight

group of unidentified hackers has infiltrated into the servers of one of the largest airline groups of the country, IndiGo. The report regarding the hack has been revealed by its management itself. The company, in the statement, has hinted that some of their internal documents might be published in public platforms. Anyway, the conglomerate has assured that it has restored the system. No information has been revealed yet about the group which has managed to infiltrate into the servers of the powerful airline company. It is not a remote incident. It is high time to find a feasible solution to the issue.

January - February 2021

Spain planning to develop registry of people refuse to be vaccinated

he European country of Spain is planning to develop a registry of people who refuse to participate in the vaccination program launched by the country to fight the spread of the Covid-19 pandemic – which has brought the world to a difficult juncture. The country is likely to share the registry with other countries in the European Union. At the same time, it has assured to protect the right to privacy of its citizens. The country has decided not to share the registry with the common public. Spain is one of the worst affected countries in the world. The virus outbreak has directly or indirectly affected lakhs of people in the country.

EU, China set to strike investment deal

he European Union and the Asian country of China have reached the final stage of the discussion to develop an investment deal. The discussion process is expected to meet its end this week itself. The deal assures the EU better access to the Chinese market. It also promises improved competition conditions. The discussion over the deal actually began nearly five years ago. It was progressing in a slow phase. It was the trade war between China and the EU which brought a new impetus to the process. The new deal has come at the time the European Union and the United Kingdom is negotiating for developing a trade deal.

January - February 2021

EU demands immediate release of journalist Zhang Zhan

he European Union has demanded the immediate release of citizen journalist Zhang Zhan, who was jailed by China as her report regarding the Covid-19 outbreak in Wuhan irritated the Chinese government. Apart from the journalist, the world’s most powerful economic union has sought the release of several reporters, lawyers and human right activists. Ms. Zhang is the first journalist who has reported about the outbreak in Wuhan. She is a very fearless journalist. A top EU official has revealed that the union has received a credible report to assume that the journalist has been subjected to torture and ill-treatment in the Chinese official custody.

Russia files new fraud case against opposition country of Russia, which is leader Alexei Navalny TheruledEuropean by Russian President Vladimir Putin, has filed a new fraud case against Alexei Navalny, who is a very powerful opposition leader. Mr. Navalny is at present in Germany, where he was taken after he had been poisoned during a flight in Russia. An independent investigation has recently exposed the involvement of the Russian government in the poisoning attack against the opposition leader. Supporters of the opposition leader have dismissed the fraud case as an attempt to prevent the exposure of the link between the Russian secret service and the poisoning attack. Mr. Navalny has already alleged that the attack had been carried out at the behest of the Russian President.

For more info: europetimes.co

January - February 2021

COVER STORY COVERSTORY

January - February 2021

the Brand New You The dynamic Nilufer Sheriff talks about the popular Hair Fair cosmetology clinics that she runs in Thrissur, Kochi and Kozhikode. She also recounts the story of her life Shevlin Sebastian

henever a leading Mollywood star Kalpana (name changed) enters the Hair Fair Clinic at Thrissur, owner Nilufer Sheriff has a look of anticipation. “She’s the easiest and most intelligent client that I have,” said Nilufer. “When you talk to clients about certain treatments, they tend to double-check with others. I can understand why. But with Kalpana, she has this ability to trust you completely. She makes you feel that what we are going to do is right. So she says, ‘Do it’.” Before she comes to the clinic, Kalpana is clear in her mind about

the treatment she is seeking. For actors, Nilufer says the doctors can change the jawline, lift the cheeks, pull up the eyebrows, and sharpen the nose. “In a way, we sculpt the face,” said Nilufer. “So, when Kalpana comes, she clearly states what she is looking for.” Once, Kalpana said she was about to embark on the role of a village woman. So, she did not want sharp features. All these changes are temporary. “A change in jawline lasts a year,” said Nilufer. Since actors rely on their expressions so much, Nilufer does not use Botox in the central part of their fac-

es. However, in the other sections, she uses a technology which reduces the strength of the Botox. When it is administered into the skin, the pores are removed, but not the wrinkles. “It will not freeze the expressions,” says Nilufer. “If needed, we can also dilute it in a particular proportion for the wrinkles to be removed.” One other positive is that the face gives off a radiance. When asked whether Botox is safe, Nilufer said, “Of course, it is. I have been using Botox for years. It is not just a corrective, it can be a preventive too. My lifestyle is very stressful, so wrinkles can come up,

January - February 2021

COVER STORY COVERSTORY so I have used Botox and that is why my face has remained unlined.” Nilufer is the best advertisement for the work done in her clinic. She has done three nose jobs or rhinoplasty, liposuctions, and chin extensions. When lines appear on her face, she inserts a thread and lifts the skin. She has healed her hair. “I had very little hair because of genes,” she says. “My paternal grandmother had very little hair. Till three years ago, I used wigs and extensions. But throughout that time, I was learning the process of growing the hair.” Now Nilufer has lush, shoulder-length hair. Incidentally, Hair Fair is well-known for its hair treatments. Nilufer says the one reason she tries out these things on herself is because if it does not work for her, it means it will not work for her clients. In a way, she is a guinea pig. Asked whether people have an inferiority complex regarding their looks, Nilufer says, “Of course, they do. Even the most beautiful people have insecurities. Some clients have told me that when they don’t look their best, it affects their confidence and ability to perform. It can also affect their marriage and career.” Not surprisingly, her Hair Fair clinics -- in Thrissur, Kochi and Kozhikode -- are very popular. Asked the genesis of the brand name, Nilufer says, “It happened accidentally. The graphic designer Arun said, ‘So, there is hair treatment and people want to be fair.” Arun put the word ‘hair’ in a white space and ‘fair’ against a black background. Nilufer liked the design. That’s how the name fell into place. As for the clients, the men are at 51 percent while the women are at 49 percent. Most of the men come for a solution for their hair fall. “They are very conscious about their looks,” says Nilufer. For a 45-year-old male actor who has crow’s feet around the eyes, Nilufer does not remove all the wrinkles, because the audience will notice it immediately. Instead, she softens the wrinkles. “I will just remove the harshest lines,” she said. One popular actor requested that he should not be made fair because the Malayali audience does not like fair actors. Apart from many top Mollywood stars, Nilufer has Tamil and Telugu actors who are clients, too, apart from leading politicians, corporates and businessmen. As for the most-asked treatment, she

January - February 2021

As to whether Malayali women look after their faces and skin, Nilufer said, “Not really, even though we have great skin.

said, different clients have different needs. An NRI woman will ask for laser hair removal or facial contouring. A teenager will ask for a product to get rid of her acne. When a client comes in, a team of experts looks into the quality of the skin, diet, lifestyle, and hormonal balance before suggesting the treatment. One of her oldest clients is 79-year-old Achamma Paul, who lives in Thrissur. Her husband is a doctor while she is a homemaker. Her children live abroad. “Achamma aunty does yoga and exercise, and eats right,” says Nilufer. “She has ensured she received the right treatments, so she looks pretty even now.” As to whether Malayali women look after their faces and skin, Nilufer said, “Not really, even though we have great skin. Malayalis have a high degree of immunity, unlike Westerners, whose skin ages fast -they develop wrinkles, freckles, and splotches. Malayalis don’t have those problems.” The problem is the diet. Most people eat fried or junk food. “Malayalis rarely have broccoli or organic foods,” she said. “And too many foods have pesticides in them. That can affect the skin.” There are lifestyle issues: high stress and lack of exercise. This can make you age fast. At Hair Fair, there is a range of treatments and products, which are offered (see boxes).

January - February 2021

COVER STORY COVERSTORY

Treatments that make a difference Platelet-Rich Fibrin (PRF)

This method is used to reverse the hair loss in men and women as part of a multi-step treatment of the scalp that is done under local anesthesia. It resets the hair follicles and reduces the impact of hair loss. The fibrin in Platelet-Rich Fibrin (PRF) acts as scaffolding to keep the growth factors in the area they are injected into for longer. PRF releases its growth factors gradually; this means it could sustain its benefits over a longer period of time.

MediFacials

During the MediFacials, Hair Fair’s skincare experts will assess the skin and recommend the appropriate skincare products or treatments to improve the health of the skin and complexion. Hydrdafacials, Silk Peel Dermal Infusions, and Oxy Infusions are some of the treatments. MediFacials are designed not only to relax and pamper, but also to deliver key essentials to the skin.

IV Therapy

This helps in boosting energy and the immune system with IV Therapies. The IV infusions are unique and formulated to develop an overall well-being. It provides 100% absorption of nutrients to solve concerns about skin and hair quality.

Laser Hair Reductions

Treatments are tailored to eradicate hair from the chosen face and body areas and the sessions are fast, effective and affordable. Unlike other clinics Hair Fair uses Diod Lasers, IPLs and also Ndyags to remove hair. Hair Fair is the only platform where all these are available under one roof.

Top-class products Hair Revitaliser Capsule is a boon to increase the volume of hair. Its regular intake stops the falling of hair and provides nutrition to the weak and split hair. As a result, the hair becomes strong, thick, and fluffy.

Vital Collagen

As we age, the natural production of collagen in our body slows down. Our collagen consumption from natural sources has been declining over time due to our changing dietary habits. Also, due to the deterioration of the collagen’s elasticity the skin begins to sag in places and causes wrinkles as we age. The Marine Collagen helps initiate new collagen molecules in our bodies and helps maintain the youthful radiance.

VitaGlow

Many people strive to attain brighter-looking skin, but the battle to achieve an even skin tone can prove tough. Glutathione is an antioxidant, which is naturally present in the body. It inhibits the production of melanin. Glutathione can have a dramatic and positive effect on skin tone and colour. VitaGlow is a glutathione supplement.

January - February 2021

The prices start at Rs 550 and can go up to Rs 2 lakh.

A powerhouse

In person, at her mother’s spacious apartment on Marine Drive, Kochi, Nilufer comes across as strong, forceful, articulate and focused. She is the only child of Muhammad Sheriff and Nimmi. Sheriff, a graduate of the Indian Institute of Technology, Chennai, is the Executive Director of the Dubai-based Tecton Construction, a desalination, oil and pipeline company. They have executed projects in Qatar, Bahrain, India, Europe and the United Arab Emirates. He also owns an export-trading firm in Africa and Prime Inspections in Italy. Nilufer grew up in Thrissur with her mother, Nimmi. With the encouragement of her husband, Nimmi began a beauty salon called La Femme in Thrissur in 1988. This remains successful. On an average, they do the make-up for 100 plus brides every month, especially during the wedding season. When she was in Class six, Sheriff told Nilufer about a toxin, which helps to remove wrinkles and makes people look younger. Later, when she grew up, Nilufer realised it was Botox. “That was the time there was no Google and the Internet but my father was already aware of all the new technological advancements,” says Nilufer. One day, when Nilufer was in Class 9, Sheriff showed her a magazine in which there was a write-up of the Vandana Luthra Curls and Curves company. “There will come a time when doc-

January - February 2021

COVER STORY COVERSTORY

After her studies, Nilufer returned to Thrissur and began working in her mom’s salon in the reception to get an idea of the beauty enquiries of an average Malayali. Thus far, her knowledge had been only of Western clients. Thereafter, she took some space there. She started with peeling and facials. Nilufer’s first client was a senior Thrissur Corporation official. Thereafter, many clients followed. So, she decided to start her clinic in 2016. And it has laser technicians, dentists, Ayurvedic experts, plastic surgeons, dermatologists, medi-facial experts and cosmetologists. tors will be handling these salons,” he said. Her father had sketched out the career plan for Nilufer from the beginning. “The beauty industry will never suffer from recession,” he told her. “Everyone wants to look their best all the time.” Nilufer did her MBBS from Rajiv Gandhi University in Mangalore. In 2005, she got married to a surgeon named Shazeer Majeed. In 2007, she became a mother to a boy named Rayn (which means, ‘Gateway to Heaven’ in Arabic). However, her marriage did not work out. Thereafter, after her graduation, she worked in Jubilee Mission Hospital and the Trivandrum Medical College. In 2014, Nilufer went to do a one-and-a-half-year course in dermatology from St. John’s Campus of King’s University in London, and internships in cosmetology clinics in New York and Los Angeles. This was followed by a course in cosmetology from the American Academy of Dermatology. She also worked in Singapore under Dr Dylan Chau. It was while working in a Beverly Hills salon that one day, Hollywood star Jennifer Aniston walked in. Jennifer was wearing huge sunglasses, with a grey top and a black cardigan, topped up by a huge sun hat. “She slipped in quickly so that people would not recognise her,” said Nilufer. “Jennifer had natural beauty.”

Start of Hair Fair

After her studies, Nilufer returned to Thrissur and began working in her mom’s salon in the reception to get an idea of the beauty enquiries of an average Malayali.

Thus far, her knowledge had been only of Western clients. Thereafter, she took some space there. She started with peeling and facials. Nilufer’s first client was a senior Thrissur Corporation official. Thereafter, many clients followed. So, she decided to start her clinic in 2016. And it has laser technicians, dentists, Ayurvedic experts, plastic surgeons, dermatologists, medifacial experts and cosmetologists. They have their production line of creams and medicines and an export division.

Personal life

Two years ago, Nilufer married the 6’2” Rohit Vijayan. They met through a mutual friend. And love blossomed. They got married at the Shangri-La Golf Resort & Spa, Hambantota, Sri Lanka on November 16, 2018, in the presence of 120 friends and relatives. Among the guests were Mollywood stars Indrajith, his wife Poornima, Bhavana, and director Geetu Mohandas. Asked about the qualities of her husband, Nilufer says, “Rohit is wellbehaved and expresses his opinions in a forthright manner. He dresses very well. And he is a gentleman. We have similar perspectives on life. In short, he is a great package.” A year ago, Rohit hit the headlines when he gifted a Lamborghini sports car, valued at over Rs 4 crore, to Nilufer. She loves to drive. “There is such an adrenaline rush to drive at high speed,” says Nilufer. “It is similar to playing a video game.” Kochi-based Rohit is a secondgeneration seafood exporter. Thanks

January - February 2021

to Rohit, Hair Fair has expanded to different cities. “Hair Fair could not have grown without Rohit’s administrative expertise,” says Nilufer. But it is not all work and no play. To destress, once a year, Nilufer goes underwater diving. “It is a beautiful experience when you go down and see the beauty of the ocean,” she says “The experience is meditative. When I come up, I feel lighter and experience a clarity of mind. There is a peace within me.” She has gone diving in the Maldives, the Great Barrier Reef in Australia, and Mauritius. Every year, she travels to London and Singapore for work and recreational purposes. She goes once a month to Dubai where her son is studying in a school. And she enjoys spending time with her father. For Nilufer, her father is a Superman. “He has great vision and knowledge,” she said. “Anyone who talks to him comes away enlightened. My father is a man of unconventional thinking, even though he comes from a conservative Muslim family in Kodungaloor.” She recalls that, as a child, when she went to a shop, she would ask her father to buy her a gift. But he would tell her to earn it. So, she would have to wash the car for a month to earn her pocket money. Sheriff would give her memory tests. He would make her stare at the garden for a minute. Then he would turn her around and ask her to tell the number of flowers and plants. “I learnt how to look at life with a wide vision,” she says. As for Nilufer, her dermatology

January - February 2021

COVER STORY COVERSTORY

One day, she plans to open an educational institute which will follow world-class systems of teaching. “That is my dream,” she says.

January - February 2021

job is a passion,” she said. “I am doing it not just to earn money but for the joy of it. My husband and father have made enough money for me to live comfortably.” When asked whether she is happy to be living and working in Kerala, Nilufer shakes her head and says, “No. The lifestyle is poor. We deserve good roads. All of us are paying road taxes. There is no support from the government or the society for an entrepreneur like me. If I go to the health department or a medical association and suggest some ideas, they are not receptive. They fear change. And we have an out-dated education system. We rely too much on by-rote learning. We should have a research-oriented system.” One day, she plans to open an educational institute which will follow world-class systems of teaching. “That is my dream,” she says. As for the status of women in Kerala today, Nilufer said, “The position has improved a lot. There

are a lot of strong women around, whose voices are being heard.” Finally, on whether the children of successful parents will do well in life, Nilufer said, “Not necessarily. The young generation is into the ‘quick money’ culture. They are very social media-driven. They feel the life they see on social me-

dia is the actual reality. They find it difficult to build something from scratch. Our parents, on the other hand, really worked hard. As for my generation, we work smartly, because we have technological access. But in terms of sheer physical effort, our parents were far ahead. God bless them.”

January - February 2021

BUSINESS

In this context, I am often asked about my stance on this issue, and the consistent answer I give is that given the choice, we would prefer to continue as a non-bank. The rationale is simple. It is the answer to the question, “Should I do something just because I can do that, or should I stick to doing that which I am good at, and which I do best?” There are many reasons why non-banks may find the option of converting into a bank not worth pursuing. Shri V.P.Nandakumar MD & CEO Manappuram Finance Ltd.

Converting large NBFCs to banks: is it warranted?

n internal working group of the RBI recently suggested that large non-banking financial companies (NBFCs) should convert themselves into Banks. Although reported in the media as a new suggestion, the fact is, conversion of a non-bank to a bank has been allowed since 2016 when RBI announced ‘on-tap’ universal bank licenses. A couple of non-banks did go on to receive the license and became Banks. In effect, the recent discussions do not change the regulatory aspect much for non-banks who are or were willing, to become a bank. However, it may be a precursor to stricter regulation for those large NBFCs who choose not to. In this context, I am often asked about my stance on this issue, and the consistent answer I give is that given the choice, we

January - February 2021

would prefer to continue as a non-bank. The rationale is simple. It is the answer to the question, “Should I do something just because I can do that, or should I stick to doing that which I am good at, and which I do best?” There are many reasons why non-banks may find the option of converting into a bank not worth pursuing.

Conversion may not be worthwhile

The first is the high cost of conversion and the need to fulfil extant regulatory requirements from day one. This includes things like maintaining the required investments for SLR (18 per cent) and CRR (3 per cent) which does not apply to NBFCs. As a bank, effectively 21 per cent of the book would earn a return far lower than the average yield on a lending portfolio, in fact, even lower than the borrowing cost.

Also, for a gold loan NBFC, meeting the 40 per cent priority sector lending (PSL) norms is a major challenge given that in the current dispensation, gold loans dispensed by NBFCs are specifically excluded from PSL benefits. (Gold loans account for 72 per cent of Manappuram’s total loan portfolio.) Besides, there is nothing certain about the presumed benefit of conversion, i.e., access to low-cost current and savings account depos-

its. The cost of deposits need not fall to the expected extent. This is seen in the fact that the cost of deposits for most of the newly minted Banks and Small Finance Finance Banks continues to be well above the industry average. Once an NBFC becomes a bank, it would necessarily have to diversify the portfolio. This can be disconcerting to NBFCs who have earned their spurs as specialised or niche players, catering to well-defined and narrow segments of the market, with specialised knowledge and skills. The consequence will be that product innovations will end up taking a back seat. Most product innovations in financial services can be traced back to non-banks. It comes about because they benefit from a light-touch regulatory approach (compared to banks) which gives them the flexibility to experiment with different innovative ideas and work towards their perfection. Be it housing loans, vehicle loans or gold loan, all these products were innovated and scaled up by NBFCs before banks adopted these products. Forcing NBFCs to convert may mean an end to the era of financial innovations. Of course, smaller non-banks would still be able to invest in innovations, but

January - February 2021

BUSINESS

as soon as they reach a defined size, the process of conversion to a bank would kick in, increasing their cost of risk capital. Converting to a bank would also imply a forced diversification and hence loss of the niche identity created over many years. Non-banks have crafted their business model to suit well-defined target customer segments. There is not one NBFC in India that aims to serve every segment of the market in the way most universal banks do. When compelled to service customers that you are not otherwise equipped to, the impact on the financial system could be negative. For instance, at Manappuram, our niche is gold loans, and our competition is from non-institutional lenders like moneylenders, pawnbrokers, jewellers. To compete against them, we have to be flexible and agile in offering products and services at a low cost, which is not easy for a large and relatively slow-moving banking institution.

Bank (High compliance burden)

Banks provide comprehensive universal banking services to their customers. Most non-banks would lack the required skill-sets, infrastructure or technology to provide such a broad range of services. It would entail huge investments in manpower, infrastructure, and technology which will depress their return on capital. This, in turn, increases the cost of raising further capital, leaving them more vulnerable.

Regulatory arbitrage, the only attraction

The only material benefit from converting to a bank is the regulatory arbitrage for banks. For example, banks do not need prior approval from RBI for opening new branches while gold loan focused NBFCs with more than 1,000 branches need prior approval for opening new branches. A brief comparison of the regulatory norms applicable to Banks (high compliance requirements) and non-banks (light-touch framework) is given in the table below.

Systemically Important NBFC (Light-touch)

Banks still follow old accounting norms, Migrated to Indian Accounting Stannot yet ready to migrate to Ind-AS. dards (Ind AS) in convergence with the International Financial Reporting StanRBI is yet to announce the implementation dards (IFRS) per regulation. date. Capital adequacy ratio for banks is calcu- All assets attract a flat 100 per cent risk lated using risk-adjusted capital norms. weight, irrespective of the asset class. (Would this, effectively, nudge some non-banks to take on higher risks?) Gold loans up to 90 per cent of LTV al- Gold loan LTV capped at 75 per cent lowed until 31 March 2021. (Will revert to 75 per cent afterwards.) Lending against gold jewellery attracts Flat 100 per cent risk, irrespective of the “ZERO” risk weight. Theoretically, ZERO LTV (Loan to value) or the loan tenure risks in case of gold loan for banks. No need of prior approval from RBI for Gold loan NBFC with more than 1,000 opening branches branches require prior approval for opening new branches [which can be time-consuming). Gold loans qualify for Priority Sector PSL benefits for gold loans dispensed by Lending (PSL) status. Eligible for govern- NBFCs were withdrawn in 2011. ment interest subsidy (as with Agricultural loans).

January - February 2021

As will be apparent, Banks do have to comply with some extra regulations which do not apply to non-banks, such as SLR, CRR, PSL targets etc. At the same time, there is a perception that banks carry a lower risk compared with nonbanks due to low concentration and diversified asset book (lending + investment). There is also a perception that banks have better governance standards than non-banks. However, considering the recent as well as past cases of malfeasance in banks leading to large losses, this may just be a matter of perception. There is also a feeling that banks, being custodians of public money, have to be strictly regulated compared to non-banking institutions who operate under a light-touch regulatory framework. The RBI has used this term more often to suggest that non-banks are not regulated enough. Therefore, the case that they may pose a systemic risk to the financial system and hence to undergo conversion to a bank over a threshold book size. Whether the threshold should be Rs The real question which 50,000 crores or Rs 5,000 crores is a matter of furneeds to be addressed ther discussion. is, “What is the objecThe real question which needs to be adtive of RBI in asking non-banks to convert to dressed is, “What is the objective of RBI in asking a bank?” Is it financial non-banks to convert to a stability? If yes, is this bank?” Is it financial stability? If yes, is this the the best option? What best option? What about about financial inclufinancial inclusion? And sion? And finally, is it finally, is it optional or optional or mandatory? mandatory? Answering these questions would enable us to address the challenges effectively. There may be tangible benefits for some non-banks in converting to banks but not for all the large NBFCs. The point is not that these non-banks cannot operate as a bank (they certainly can) but that they may not do a good job of it. After all, there is little point in transitioning from an innovative NBFC efficiently serving a niche customer base to a mediocre bank that pleases none.

With best wishes for a happy new year! (V.P. Nandakumar is MD & CEO of Manappuram Finance Ltd. Views are personal.)

January - February 2021

BUSINESS

Perhaps it was also a year when the pessimists did gloat at their abilities because in several spaces – the worst did happen. The attempt of this article is not a deep dive into every aspect of change that was thrust upon us but to look at a few indicators which will cement the fact that - we are in for everlasting change.

Rajesh Nair Associate Partner, Ernst & Young LLP

The disruptive year that was - 2020

he year 2020 marked one of the most disruptive times in the history of mankind. It truly transcended boundaries and geographies and brought down on the world, a pandemic which hurt at every level in every continent. It seemed like the worst nightmare right out of a Hollywood movie came alive and how! The effects of the virus took toll in every walk of life and suddenly mankind, despite all the technological achievements, seemed vulnerable to travesties of nature and biology. Suddenly just human survival took precedence in action and thought, and every intelligent mind was looking for solutions and panacea on what would alleviate medical woes, economy blues, unemployment and a complete shift in lifestyles. Every element of education that we spend learning and further embellishing through experience seemed in capable of deciphering the changes let alone finding solutions. The continuous boost of optimism from every quarter was welcome but we welcome every news with caution as

if the worst is yet to come. Perhaps it was also a year when the pessimists did gloat at their abilities because in several spaces – the worst did happen. The attempt of this article is not a deep dive into every aspect of change that was thrust upon us but to look at a few indicators which will cement the fact that – we are in for everlasting change.

The economy

After a fabulous run of the Indian economy, although there were the grey clouds of slowdown in the horizon, we slowed down in India. One may argue that it was the aftermath of the forced lockdown, the government enforced in March, April , May – but that debate will be an eternal one and we will never ever know whether it saved lives or whether it brought a deceleration that will affect Indian for many days to come. But there was also the never dying optimism of stock traders. The India, the additional point of interest was the number of new traders in the market as if the equity markets suddenly came into the saving and investment horizon for the

January - February 2021

BUSINESS

common man. The stock markets continue to go on a tizzy across the world with the global market capitalization touching $120 Trillion dollars. We saw business anomalies which cannot be explained with existing management frameworks nor do we have the benefit of historically tested hypothesis. Look at Zoom, the video conferencing software. Despite warning of security issues and some governments, corporates panning its use shot up in valuation from $20 Billion to $160 in 2020! Tesla became one of the most valued companies in the auto sector with less that 1/70 of the total produce of the industry. Of course, it was the year where we saw oil reaching negative value meaning that technically you could be paid for consuming oil in some parts of the world!

Business

Business has severely got affected during the first part of the year. In India, like the rest of the world, companies which needed the physical markets, physical en-

vironment to run their operations were affected the most. Travel and tourism, which had caught on in recent years went null during the time of the pandemic. Employees were forced to work from home – a change which may not have affected some industries but literally shut down some others. The latter half of the year did see some bouncing back in various sectors. But an encouraging aspect was the adoption of digital technologies. Across companies, the ‘digital agenda’ was top priority and what some leaders have envisioned to be done in three years has been accomplished and done in fractionally shorter periods. Concepts like Robotic Process Automation, Artificial Intelligence are being actively explored to increase efficiency and productivity. Companies pivoted to manufacture new products like the masks and the sanitizers – which have become part of daily life and will be a constant feature for the near and distant future. Cost rationalization and a closer scrutiny of cor-

January - February 2021

porate expenses has been a constant theme and this habit trickled down to the households. Banks recorded big rise in basic deposits, savings and it was clear a sense of parsimony and saving for the rainy day, had hit the psyche of the population, in general. This is effectively articulated by author Morgan Prousel wrote in his interesting 2020 book – The Psychology of money’ – The first idea – simple , but easy to overlook – is that building wealth has little to do with your income or investment returns, and a lot to do with your savings rate. Of course, an excess will also lead to recessionary trends as one man’s expenditure is another man’s income. When we squeeze our purse shut, there are several sectors we are indirectly slowing down.

Education

It was a year where children sat at home! Will online classrooms being the order of the day, the teacher – student engagement for schools and colleges alike was restricted to interactions on a screen, typed in

questions and no physical contact. This also meant the important mingling with peers, the playtimes, the banters and a lot of outdoor time was restricted. Children missed their schools like no other time in history, but we also realised that some form of instruction is still possible through the digital tools and the need to muster those skills is also paramount. A few interesting snippets from social scientists was that the reading habit is back in vogue and a lot of consumption of books and journals were being reported. But what this points to is also a fact that, online classrooms are here to stay. Increased usage numbers like Udemy, Upgrad, Unacademy, Byjus pointed to a successful stint to all the ‘edutech’ companies which blended the right technologies to take education closer to the child and adult, making it more interactive and meaningful than the yesterdays.

Working from home

What began as perhaps a working model which exists in software companies is now common across industries. The initial period of the

pandemic was the forced working from home modality. While there was a certain pain to it, there was also a bright side for a lot of professionals who never got time at home. The increased posting of family pictures and group activities in the sites like Facebook and Instagram confirms this fact. But then a lot of professionals also complained of a work from home fatigue – lacking the ability of meeting colleagues and clients; how some deals can be closed only when we are physically shaking hands and meeting eye to eye. But it has also brought a realisation in multiple areas. Are we travelling too much? Can we look at a model where some functions can work more from home? Is there a productivity gain in people reducing travel time? Writer like James Clear, the author of ‘Atomic Habits’ even averred that perhaps it may help some professionals rise about their ‘plateau of latent potential’ and experience clear improvement in personal productivity. Post pandemic time, however long things take to come back to the new normal, companies will definitely evaluate how

they can offer a balanced mix of office time and working from home! As I write this article, the silver lining of multiple vaccines crowds the ‘breaking news’ of channels. Several countries have started the vaccination process and things will slowly trudge back to normal. But the cliché ‘the new normal’ is here to stay. We will look at the world differently, ‘social distancing’ will rule how we guide our lives. Business risk and resilience will have new meaning for corporate planners. Strategy and the planning horizon will shorten its time frame. Arcs of coherence as Steven Pinker says will alter itself. We will balance thought experiments will experience rather than purely relying on what happened in the past and what responses we took then. A landmark year which had reference in plans , the gazillion ‘Vision 2020’ documents , the year marking the end of a decade which changed the world for ever – 2020 will ever be remembered as the year of the pandemic but let so many changes – which will usher in a new time zone in human history!!!

January - February 2021

FINANCE

Adv Sherry Samuel Oommen This article is authored by Adv Sherry Samuel Oommen. Adv Oommen, who specializes in constitution, tax and corporate laws has also cleared the final exams of the Institute of Chartered Accountants of India, the Institute of Cost Accountants of India and the Institute of Company Secretaries of India. He has also completed his Masters Degree in Commerce, apart from obtaining a Post Graduate Diploma in Business and Corporate Laws from Symbiosis Pune. The views expressly are personal and should not be construed as a legal opinion.sherryoommen@nashcp.com.

Unfairness in the form of unreasonableness is akin to violation of natural justice. It was in this context that the doctrine of “legitimate expectation” was evolved which has, today become a source of substantive as well as procedural rights. But, claims based on “legitimate expectation” have been held to require reliance on representations and resulting detriment to the claimant in the same way as claims based on promissory estoppel.

espite the pandemic, the Hon’ble Supreme Court has, to a certain extent, ensured protection of the liberty of individuals and their fundamental rights guaranteed under the Constitution of India. To start with, the Hon’ble Supreme Court in its judgment in Guidelines for Court Functioning Through Video Conferencing During Covid 19 Pandemic (2020) 6 SCC 686 authorized the Courts to ensure the robust functioning of the judicial system through the use of video conferencing technologies. Further, the Courts were also directed to notify and make available the facilities for video conferencing for litigants who do not have access or means to video conferencing facilities. Interestingly, the use of video conferencing technologies for recording of evidence

January - February 2021

was upheld by the Supreme Court way back in 2003 in the landmark decision in the case of State of Maharashtra Vs Dr Praful B Desai (2003) 4 SCC 601. It did take this pandemic to ensure that Courts too make use of technology. In the context of the pandemic, the Hon’ble Supreme Court has issued a slew of directions/orders. A few of them have been detailed below: 1. One of them being that homeopathy could be used in preventing and mitigation COVID-19 as per Ayush Ministry Guidelines. The Court in the case of Dr AKB Sadbhavana Mission School of Homeo Pharmacy 2020 SCC Online SC 1022 noted that homeopathic medicines are medicines for prophylaxis, amelioration and mitigation of diseases.

2020 – FEW INTERESTING JUDGMENTS FROM THE HON’BLE SUPREME COURT

2. In a landmark decision, the Supreme Court in the case of Gujarat Mazdoor Sabha (2020) 10 SCC 459 held that the “right to life” guaranteed to every person under Article 21, which includes a worker, would be devoid of an equal opportunity at social and economic freedom, in the absence of just and humane conditions of work. A worker's right to life cannot be deemed contingent on the mercy of their employer or the State. Consequently, the Court held that the notifications issued

under the Factories Act, in denying humane working conditions and overtime wages provided by law, are an affront to the workers' right to life and right against forced labour that are secured by Articles 21 and 23 of the Constitution. 3. In Suo Motu Writ Petition (Civil) No 7 of 2020, the Hon’ble Supreme Court in the matter of In Re: The Proper Treatment Of Covid 19 Patients And Dignified Handling Of Dead Bodies In The Hospitals Etc held that

right to health is a fundamental right guaranteed under Article 21 of the Constitution of India. This right includes within its compass the right to affordable treatment. Therefore, the Supreme Court noted that there lies a duty cast on the State to make provision for affordable treatment and “more and more provisions in the hospitals to be run by the State and/or local administration”. The year ended with a judgment in the case of The State of Jharkhand & Others Vs Brahm-

January - February 2021

FINANCE putra Metallics Limited, Ranchi and Another 2020 SCC Online SC 968 where the doctrine of promissory estoppel and its relationship with the doctrine of legitimate expectation was clearly expounded. While discussing the obligations of states and their power, the Courts held as follows: “The state must discard the colonial notion that it is a sovereign handing out doles at its will. Its policies give rise to legitimate expectations that the state will act according to what it puts forth in the public realm. In all its actions, the State is bound to act fairly in a transparent manner. This is an elementary requirement of the guarantee against arbitrary state action which Article 14 of the Constitution adopts.” The doctrine of legitimate expectation has its genesis in the field of administrative law. The Government and its nodes, in

January - February 2021

administering the affairs of the country, are expected to honour their statements of policy or intention and treat the citizens with full personal consideration without any iota of abuse of discretion. The policy statements cannot be disregarded unfairly or applied selectively. Unfairness in the form of unreasonableness is akin to violation of natural justice. It was in this context that the doctrine of “legitimate expectation” was evolved which has, today become a source of substantive as well as procedural rights. But, claims based on “legitimate expectation” have been held to require reliance on representations and resulting detriment to the claimant in the same way as claims based on promissory estoppel. This principle was pithily elaborated in the case of National Buildings Construction Corporation (1998) 7 SCC 66. In the above judgment, the

Hon’ble Supreme Court severely castigated the State Government of its “administrative lethargy”. The Court noted that “administrative lethargy” of the State apparatus would indeed discourage entrepreneurship and hence there was an obligation on the part of the State to act with alacrity. In my view, some of the recent notifications issued by the Government especially on the GST front suffer from the vice of violating the doctrine of promissory estoppel and legitimate expectation. I would hope that 2021 marks a year where the three pillars of the Constitution work towards upholding the constitutional ethos. Nonetheless, it is a copper-bottomed dictum that the Constitutional Courts should constantly remind itself of being the sentinel on the qui vive if the call of the constitutional conscience is to retain meaning

HEALTH

Dr Arun Oommen MBBS, MS (Gen Surg), Mch( Neurosurgery), MRCSEd, MBA Consultant Neurosurgeon, VPS Lakeshore Hospital Kochi, India

Benign paroxysmal positional vertigo (BPPV) is the most common disorder of the inner ear’s vestibular system, which is a vital part of maintaining balance. Usually benign and generally not progressive. BPPV produces a sensation of spinning called vertigo that is both paroxysmal and positional, meaning it occurs suddenly and with a change in head position.

Tackling Benign Paroxysmal Positional Vertigo

53-year-old computer professional has problem of recurrent vertigo. It comes suddenly and really makes her helpless. Many at times there is a tendency to fall with a nauseating sensation. Vertigo is maximum in the morning. Many medications tried but no permanent relief. Have seen so many doctors and have done many tests. But all seem normal. Tried many exercises as per doctors’ advice but has not produce any satisfactory relief.

What can be the permanent solution for this disgusting problem? Benign paroxysmal positional vertigo (BPPV) is the most common disorder of the inner ear’s vestibular system, which is a vital part of maintaining balance. Usually benign and generally not progressive. BPPV produces a sensation of spinning called vertigo that is both paroxys-

mal and positional, meaning it occurs suddenly and with a change in head position. Its typically unilateral, although in some cases it is bilateral. BPPV occurs as a result of otoconia, tiny crystals of calcium carbonate that are a normal part of the inner ear’s anatomy, detaching from the otolithic membrane in the utricle and collecting in one of the semicircular canals. When the head is still, gravity causes the otoconia to clump and settle. When the head moves, the otoconia shift. This stimulates the cupula to send false signals to the brain, producing vertigo and triggering nystagmus (involuntary eye movements).

Symptoms Mainly vertigo, then dizziness (lightheadedness), imbalance, difficulty concentrating, and nausea. Symptoms are precipitated by changing the head’s position with respect to gravity. With the involvement of

January - February 2021

the posterior semicircular canal in classic BPPV, common problematic head movements include looking up, or rolling over and getting out of bed. BPPV may be experienced for a very short duration or it may last a lifetime, with symptoms occurring in an intermittent pattern that varies by duration, frequency, and intensity. it can be tremendously disruptive to a person’s work and social life, as well as pose a health hazard due to an increased risk of falls associated with dizziness and imbalance.

Etiology The most common cause of BPPV in people under age 50 is head injury, and is presumably a result of concussive force that displaces the otoconia. In people over age 50, BPPV is most commonly idiopathic, (occurs for no known reason), but is generally associated with natural age-related degeneration of the otolithic membrane. BPPV is also

associated with migraine, cervical spondylitis and ototoxicity. Viruses affecting the ear (such as those causing vestibular neuritis) and Ménière’s disease are unusual causes. Occasionally, BPPV follows surgery or after long periods of inactivity.

Diagnosis BPPV is diagnosed based on medical history, physical examination, the results of vestibular and auditory (hearing) tests, and possibly lab work to rule out other diagnoses. Vestibular tests include the DixHallpike maneuver and the Supine Roll test. Radiographic imaging tests such as a magnetic resonance imaging scan (MRI) are recommended to rule out other problems such as stroke or brain tumor. Auditory tests

are also preferred to help pinpoint a specific cause of BPPV, such as Ménière’s disease or labyrinthitis.

Treatment Recommended treatment for most forms of BPPV employs particle repositioning head maneuvers (Epley manoeuvre) that move the displaced otoconia out of the affected semicircular canal and back into their proper location in the utricle. These maneuvers involve a specific series of patterned head and trunk movements that can be performed in a health care provider’s office in about 15 minutes. A single particle repositioning procedure is effective in treating about 80% to 90% of cases of BPPV. Additional exercise or repositioning maneuvers may be

needed if symptoms continue. The particle repositioning procedure (Epley manoevre) begins by sitting up on a bed or table. Turn your head 45 degrees toward the affected ear (see how to determine your affected ear above). Quickly lie back, keeping your head turned toward the affected ear as you lie back with your head slightly over the edge of the bed or table. Wait about a minute or until you stop having symptoms. Without raising your head, turn your head quickly in the opposite direction so that your “good” ear is parallel with but slightly over the edge of the table or bed. Wait about a minute or until you stop having symptoms. Roll onto your side. Continue to turn your head another 45 degrees in the

January - February 2021

HEALTH same direction as previous step so that your nose is now facing the floor. Wait about a minute. Keeping your chin tucked in toward your shoulder, sit up in the direction your body is facing.

Post-Treatment Considerations After successful treatment with particle repositioning maneuvers, residual dizziness is often experienced for up to three months. Patients sleep in an elevated position with two or more pillows and/or not on the side of the treated ear, wear a cervical collar as a reminder to avoid quick head turns, and avoid exercises that involve looking up or down or head rotation.

Surgery

Vestibular Rehabilitation Home Exercises

If head maneuvers and vestibular rehabilitation exercises are ineffective in controlling symptoms, surgery is sometimes considered. Several surgical approaches are possible; however, a procedure called posterior canal plugging, also called fenestration and occlusion of the posterior canal, is preferable to other methods. These include removing the balance organs with a labyrinthectomy; severing the vestibular portion of the vestibulo-cochlear nerve with a vestibular nerve section, thus terminating all vestibular signals from the affected side; or severing the nerve that transmits signals from an individual canal with a singular neurectomy.

After receiving training from a doctor or physical therapist, a patient can perform the exercises at

Medications are not beneficial always. Motion sickness medications

Other BPPV Treatment Options If head maneuvers don’t work, other treatment options include home-based exercise therapy, surgery, medication, or simply coping with the symptoms while waiting for them to resolve.

home Brandt-Daroff exercises involve repeating vertigo-inducing movements two to three times per day for up to three weeks. It reduces vertiginous responses to head movements in 95% of cases Another home exercise method is daily self-administration of particle repositioning head maneuvers.

Medication

January - February 2021

are sometimes helpful in controlling the nausea associated with BPPV, and are sometimes used to help with acute dizziness during particle repositioning maneuvers. Medication that suppresses vestibular function in the long term can interfere with a person making necessary adaptations to symptoms or remaining physically active because of sideeffects such as drowsiness.

Wait-And-See Sometimes, adopting a “waitand-see” approach is used for BPPV because it frequently resolves without intervention. Coping strategies during this wait-and-see phase can involve modifying daily activities to help minimize symptoms. This may involve using two or more pillows while in bed, avoiding sleeping on the affected side, and rising slowly from bed in the morning. Other modifications include avoiding looking up, such as at a high cupboard shelf, or bending over to pick up something from the floor. Patients with BPPV are also cautioned to be careful when positioned in a dentist’s or hairdresser’s chair, when lying supine, or when participating in sports activities

HOUSEWIFE: THE WORD THAT DESERVES BETTER DEFINITION Vignesh S G

et’s move to an imaginary class room situated in the rural region of the South Indian state of Karnataka. A teacher enters the classroom with a bunch of papers. There are not less than fifty students in the class. The teacher distributes the papers among the students. The papers require the students to share the occupation of their parents. The majority of them enthusiastically fills the column which requests the students to share the occupation of their fathers. The teacher watches confusion in many faces, when he asks the students to fill the column which requests the students to share the occupation of their mothers. He tells his students to write ‘house wife’ if your mothers do not have any specific job. For the students, it is a new term. The majority of them happily uses the term. The politics of ‘house wife’ begins that moment. If you think deeply, you will also get to know that like those children you have also picked the term ‘house wife’ involuntarily. The term has remained among us silently. We have mistakenly let the term remain unquestioned for decades. Why we have not yet raised any challenge against the term? Why we have let our children do the same mistake

January - February 2021

we have done? The answer is simple. A large section of us is careless and carefree, especially about those things which matter to the women population of the country. We need to change that attitude. Fortunately, the Supreme Court of India, through a recent judgement, has showed us indirectly on how we should handle the politics around the term ‘house wife’. The top court of the country, while considering a case seeking the review of the compensation awarded to a couple who died in a road accident in Delhi, has held that the value of a woman’s work at home was no less than that of her officegoing husband. The court has reversed a lower court judgement which failed to recognise the value of the woman’s work at home equivalent to the value of the work done by her officegoing husband. According to the 2011 census report, not less than 159.85 million women in the country are housewife. Similarly, a report, recently published by the National Statistical Office titled ‘Time Use in India 2019’, says women spend over 299 minutes a day on unpaid domestic services for household members. The said reports point to a clear case of the lack of gen-

der equality. There is a controversial notion that household work is feminine in nature. A report published by the International Labour Organisation reveals that women perform 76.2 per cent of total hours of unpaid care work, which is at least three times as much as men. In the regions of Asia and Pacific, the figure stands at more than 80 per cent. How can we address this crisis? Recently, a newly born political outfit based in the Indian state of Tamil Nadu has come forward to address this crisis in an innovative way. In its political manifesto, it has promised to recognise housewife as a salaried profession. It has assured to pay women a monthly amount. In a sense, it is not more than a gimmick to catch the attention of the women electorate of the state. In another sense, it is a bold attempt to bring the call for gender equality back to the terrine of the Tamil Nadu politics. Whatever it is, our topic is not that, but is whether the new initiative can address the problem effectively. Primarily, there are two dominant views. A section believes that salary for housework will only imprison women further and dissuade men from sharing household work. They believe that what women

need is a policy which can liberate women from household chores and better their social interactions, particularly paid employment outside the house. Another section boasts that the move will empower women, award a special status to them and make them economically independent. Both the opinions hold their own merits and demerits. Nonetheless, the newly born political outfit deserves a special appreciation for the courage It has shown to address the topic. A large section of our society still sees women as a property of their husbands, despite the promise of gender equality made by our socio-political system. It implies that there is a clear limitation for the legal framework to address this issue rightly. What the nation needs is a social change which can assure gender equality. The change should begin from our mind. We should teach our children that men and women are equal and they deserve equality space in the institution of family. The best way to teach your children is to show them how much respect and space your give to your partner in your family. A social change cannot be imposed. It should take birth in the minds of the people of the society. The ruling class of the society can

only act as a supporting force, but not act as an imposing force. We know several examples already how some noble attempts to bring positive social changes in the society have been derailed by the overactive role or unnecessary haste shown by the ruling class. Promising a salary to housewives can be equated to the mistakes the ruling class has made in the past in the area of social change. We hope that the future generation will not be forced to grab this term from the society and carry the term without questioning its downsides for decades. India is a developing country. Our strength is our workforce. If we manage to bring the entire women population along with the men population to the job market, it can bring a tremendous growth to the country; besides the growth, it can gift a just society. It is high time to address the matter of gender equality. It is time to tell loudly that I will not let the term ‘housewife’ stay unquestioned around me. “Feminism isn’t about making women strong. Women are already strong. It’s about changing the way the world perceives that strength.” January - February 2021

MOTIVATION

Dolly Neena Dolly Neena is founder of THE IGNIST, a training company born out of a noble cause and spirit. She holds a decade long experience being a passionate mentor and entrepreneur.

January - February 2021

Emotions are the best things to feel about for a human being, if it is all about happiness, relaxation, and peace. But, this pandemic time had been ever worrying than any other phase of lifetime. We tend to spend too much time ruminating over illogical fear and frustrations which will set off an undesired emotional state.

WHAT ARE YOU SLAVE TO? “Your emotions are the slaves to your thoughts, and you are the slave to your emotions.”

uring the last one year, people have been checking temperatures wherever we go – whether we go to a mall, an office, an institution or even relatives’ homes. This definitely is to reassure that your body is not affected by the Covid virus. However, did you ever check your mental temperature yet? Emotions are the best things to feel about for a human being, if it is all about happiness, relaxation, and peace. But, this pandemic time had been ever worrying than any other phase of lifetime. We tend to spend too much time ruminating over illogical fear and frustrations which will set off an undesired emotional state. This can cause increased anxiety, mental stress, becoming more irritable without any reason, feeling insecure, having illogical irrational thoughts, unnecessary fear creeping in etc which might affect a sound sleep as well. Emotions have a key role to play all throughout our life in keeping us sane. Different types and kinds of emotions rule us through our day to day lives. Even though there is less scientific con-

sensus to a definition, “Emotions are biological states associated with the nervous system brought on by neurophysiological changes variously associated with thoughts, feelings, behavioural responses, and a degree of pleasure or displeasure”. Emotions are usually complex which will alter your physical and psychological state of behaviour. It definitely affects your temperament, mood, your character, personality and response. It also affects our decision making skills as usually it is being influenced while we are angry, happy, relaxed or stressed. According to Paul Eckman, there are six basic types of emotions which are universal in nature: fear, disgust, anger, surprise, happiness, and sadness. Across countries regardless of culture, backgrounds and conditioning, we feel a broad spectrum of emotions, mostly not in its purest form of each emotion; because it could be mixed as well. Secondary emotions may add up to more than 25. Take an example of you watching a horror movie in the safety of your own home. Even though there is no logical reason to feel the irrational fear and frightening nervousness you go through, you might have experienced your body reacting to the events on the screen

January - February 2021

MOTIVATION

January - February 2021

Psycho-Social conditions, here, are a significant points to ponder on – especially during the Covid time, because this is a frightening time. There are positive and negative emotions – both are contagious as well. Positive emotions include, joy, excitement, love, happiness, interest etc. and negative emotions include anger, revenge, rage, disgust, fear, loneliness, sadness etc. with faster heartbeat and adrenaline rush. You might even want to run or scream. Emotions definitely steer our actions. Your emotions are directly connected to your nervous system. Which means your emotions can cause not only psychological reactions, but also strong physiological reactions. Your body reacts or responds to what you ‘feel’. As the autonomic nervous system controls involuntary or voluntary bodily responses, it prepares your body for a threat or imminent reflex. When an emotional situation is triggered, our body might start reacting or responding without our awareness. There, you need to evaluate and interpret. Our ability to accurately understand others’ and ours emotional expressions are what we call now “Emotional Intelligence”. Even though we may think that moods, feelings and emotions are all the same, it really is not – Mood is slightly longerlasting where emotions are rather short-lived and erratic or irregular in nature, but intense. Emotions are generated subconsciously - There are innumerable instances where you might find yourself in a good or bad or gloomy mood for days together without any particular reason. The reasons can be inter-linked with your body conditions, because emotions are autonomous bodily responses to the internal or external events around us. ‘Emotions are generated by synchronization of neural networks throughout the human brain, involving visual and auditory areas in occipital and temporal regions that process incoming information as well as self-referential

areas in parietal regions.’ Emotions, on an advantageous side, helps us to take actions as to avoid hazardous situations, make decisions and to survive as per the human being’s design. Psycho-Social conditions, here, are a significant points to ponder on – especially during the Covid time, because this is a frightening time. There are positive and negative emotions – both are contagious as well. Positive emotions include, joy, excitement, love, happiness, interest etc. and negative emotions include anger, revenge, rage, disgust, fear, loneliness, sadness etc. Even though there are times when negative emotions give us positive results, we need to be regularly analytical about the state of our mind and our emotions. We should not let emotions control us negatively and thus weaken our psychological & physiological system. When this major outbreak happened in 2020, many people fell prey to the unprecedented hazards to mental health. Many fell more sick and fearful reading and watching about the increasing uncontrollable number of Covid cases. Feeling the threat and extremely under pressure are natural emotional responses. However, many were not ready to cope with it, nor they were prepared to emotionally rationalize. Even though many are developing the coping strategies eventually, many already succumbed to the worst. Poor mental health affected bad performances in many roles – at home and at work and even led to suicides and deaths. Hence, please do take care of your mental health and be aware of what

yourself and people around you are feeling. It is important that you need to develop a rational state through sensible thinking and evolved response, without creating much emotional disquiet within. Mindfulness should be developed in order to help us let our higher brain determine what should be a best response to any situation. Build your emotional resiliency, step by step. All of us desire to be in control. Children can be more clingy, attached or demanding during these times, as they are mostly inbound and do not have other outdoor options to play at/with. Older people at home and work might be yielding to higher levels of anxiety and stress. Make sure we seek practical emotional support from inside homes and also from government health professionals whenever needed. Keep regular uplifting routines and schedules which help you stay strong and positive. Stay connected to your personal and social circle as much as possible, and stay engaged. Refrain from reading, listening, watching any kid of false news that will aggravate your stress or anxiety about the virus spread. Always better to focus on things you can control. Majorly, try to be a calming influence, without aggravating unnecessary panic among others, toxic news shouldn’t spread more faster than virus. Stay mentally healthy. “All the knowledge I possess everyone else can acquire, but my heart is all my own.” -Johann Wolfgang Von Goethe

January - February 2021

David Carmel Alex

The stock market gives the common retail investor a chance at profiting from the capital markets. Although common stock investments are considered risky, with the right analysis anyone can generate decent returns. Major indices like the NIFTY and SENSEX have only risen when looking at a long term perspective, therefore if proper due diligence is carried out and the right investment is selected it will provide wholesome returns to the common investor with the added benefit of liquidity in the long term.

The art of trading S

tock market education in India is still at its nascent stage. There are many who would wish to pursue a career or even just simply invest in stock market, but are unsure of how to go about and where to start. David Carmel Alex, the Chairman and CEO of Maverix Pro Limited explain in simple terms some of the queries that crop up in the minds of a beginner.

What is stock market? What are its advantages?

The stock market is a public platform where shares of companies are bought and sold at a live transaction price (LTP) which is determined by supply and demand. The stock market offers various advantages • Companies that are publicly listed are easily able to raise funds from the public for further expansion of projects through an initial

January - February 2021

public offering (IPO) • Investors in the stock market can earn a return from both capital appreciation and dividend income • Liquidity. Typically, common shares can be bought and sold more quickly and easily than other investments, such as real estate, art or jewellery. This means investors can buy or sell their investment for cash with relative ease.

Do I need huge capital to enter into stock market?

No, it is not required to have large capital when investing. However, returns in the stock market are governed by something called “risk-to-return ratio”, which basically means the more risk taken, the more the rewards. Essentially when investing in the stock market your money is working for you, hence logically the more funds invested the more productive will be your returns.

How is stock market changing the life of peo-

ple in India?

What is the basic requirement to enter into stock market, Can any graduate acquire this skill?

Some of the basic knowledge requirements for entering into stock market would be: • Understanding SEBI and its guidelines • What are the players in the stock market

• Growth stocks and Value stocks • Fundamental analysis • Basic technical analysis like price action and indicators • How news impacts markets • Basic strategies Yes, any graduate can learn and understand each and every concept with ease, provided they are patient and understand that the market provides opportunities every day and it is their responsibility to wait for the right one.

What is the difference between investing and trading?

• Stock trading is about buying and selling stocks for shortterm profit, with a focus on share prices. Traders jump in and out of stocks within weeks, days, even minutes, with the aim of short-term profits. They often focus on a stock’s technical factors rather than a company’s longterm prospects. What matters to traders is which direction the stock will move next and how the

January - February 2021

trader can profit from that move. • On the other hand, Investing is about buying stocks for long-term gains. Investors have a longer-term outlook. They think in terms of years and often hold stocks through the market’s ups and downs.

What are the opportunities in the stock market?

One of the purposes the stock market serves is to give investors – those who purchase stocks – the opportunity to share in the profits of publicly-traded companies. Investors can profit from stock buying in one of the two ways. Some stocks pay regular dividends (a given amount of money per share of stock someone owns). The other way investors can profit from buying stocks is by selling their stock for a profit if the stock price increases

from their purchase price.

Can you make 500 rupees daily on stock market?

Yes, one can, provided one has the required knowledge, skill, experience, discipline and the ability to time the market. However, most of the people fail in this endeavour and blame the market for it. But one has to keep in mind that the market is always right and gives every trader a chance to make profits, irrespective of the directions it moves in. Thus, trading is nothing but a strategy based art. Some people may consider it as a game of gambling but for other it’s a huge source of income.

Are there any age restriction for a career in stock market?

January - February 2021

As such there is as such no age

restriction for investing in stock markets of India. It’s just that you should be above 18 years to create a Demat account and a trading account. To open your Demat and trading account a PAN card is a must. And you can only apply for a PAN card if you are18 years or older. Even if your age is less than 18 years, it is still possible to open Demat and trading accounts. You can do so by submitting the documents of your guardian. You can open a Demat and trading account at a brokerage in the name of a minor by the natural guardians (like parents) or the court-appointed guardian. After verifying all the necessary documents, the depository participant will allow you to trade in Indian stock markets

GADGETS

Realme X7

Rs. 19,290 (Approximately) Android v10 (Q) OS 6.43 inches Display 64 MP + 8 MP + 2 MP + 2 MP Quad Primary Cameras 32 MP Secondary Camera 6 GB RAM 128 GB Internal Memory 4300 mAh Battery Capacity

Vivo X60

Rs. 39,290 (Approximately) Android v11 OS 6.56 inches Display 48 MP + 13 MP + 13 MP Triple Primary Cameras 32 MP Secondary Camera 8 GB RAM 128 GB Internal Memory 4500 mAh Battery Capacity

January - February 2021

Apple iPhone 13

Rs. 89,990 (Approximately) iOS v14 OS 6.2 inches Display 13 MP + 13 MP Dual Primary Cameras 13 MP Secondary Camera 4 GB RAM 64 GB Internal Memory 3285 mAh Battery Capacity

Xiaomi Mi 11

Rs. 44,990 (Approximately) Android v11 OS 6.81 inches Display 108 MP + 13 MP + 5 MP Triple Primary Cameras 20 MP Secondary Camera 8 GB RAM 128 GB Internal Memory 4600 mAh Battery Capacity

January - February 2021

BEAUTY

Dr. Elizabath Chacko, MD-Kalpana International

Mob: 9388618112

January - February 2021

Natural tips to reduce gray hair

ray hair is considered as a symbol of wisdom. When it comes to the matter of advice, persons with gray hair are preferred over persons with normal hair. People with gray hair often are generally treated with respect by societies. Nonetheless, the majority of people does not like gray hair. It is simply human psychology. People always love to look younger. Gray hair is inversely proportional to youthfulness. The grayer your hair is the older you appear. The said reality explains the growing demand for hair dye products. People having trouble with gray hair are literally running after hair dye products impatiently, in a sense. In this edition, we attempt to address this matter. We love to share some effective natural tips to reduce gray hair. It is normal for hair to go through a natural cycle of dying. As hair follicles age, they produce less colour. The onset of this cycle varies from person to person as it depends on genetics. It is the most authentic scientific explanation about the topic.

able agricultural product in this part of the world. It is also very economical. It is a rich source of several vitamins and minerals. Take a few spoons of coconut oil. Apply the oil on the scalp. Massage the hair with the oil slowly and thoroughly. Let it rest on the hair for a few minutes. Remove the oil with lukewarm water. Repeat the procedure at least thrice a week for better result.

Coconut Oil

Ghee

Coconut is an easily avail-

Indian Gooseberry Oil It is commonly known as Amla, in India. It is a tasty fruit easily available in the country. It is actually the Indian version of gooseberry. It is known for its oxidation, anti-bacterial and anti-fungal properties. It is a rich source of several vitamins and minerals, including Vitamin C. Take a few spoons of Amla oil. Apply the oil on the scalp. Massage the hair with the oil slowly but thoroughly. Let the oil rest on the hair for a few minutes. Wash the oil with lukewarm water. Repeat the procedure at least twice a week for better result. Amla juice is also good for hair. It is an easily available prod-

uct in this part of the world. It is economical as well. What makes this product helpful for hair is the presence of Vitamin E, which is the main ingredient in many hair conditioning products. Ghee is the rich source of several vitamins and minerals, especially Vitamin E. Take a tablespoon of pure ghee. Apply the ghee on the scalp. Massage the ghee on the hair thoroughly and slowly. Let the ghee rest on the hair for a few minutes. Remove the oil with lukewarm water. Repeat the procedure at least twice a week.

Onion It is an unavoidable vegetable in the Indian kitchen. It is also a commonly used vegetable. It is a rich source of several vitamins and minerals, especially sulfur. What makes the produce suitable for hair is the presence of sulfur. Take a spoon of onion juice. Rub the juice on the scalp. Let the juice rest on the scalp for few minutes, at least 10 to 15 minutes. Wash it with lukewarm water. Repeat the procedure at least twice a week for better result.

Stay Healthy! Stay Beautiful!

January - February 2021

TRAVELOGUE

North Macedonia is a developing country situated in the continent of Europe. It shares borders with Kosovo, Serbia, Bulgaria, Albania and Greece.

January - February 2021

A Holiday Destination in Europe: North Macedonia

acedonia is a very familiar name in Europe. It has a connection with the Roman history the continent shares. Recently also, this name has spotted in the discussion table of the continent. The reason that has brought the name to the discussion table is the dispute between two countries in the continent over the name. Greece has refused to recognise the Republic of Macedonia, one of the youngest countries in the continent, for its name. There is a place named Macedonia in Greece, and the country has an emotional attachment to the name

for its Roman history. The issue has been resolved when the young country has agreed to rename the country as the Republic of North Macedonia instead of the Republic of Macedonia. North Macedonia is a developing country situated in the continent of Europe. It shares borders with Kosovo, Serbia, Bulgaria, Albania and Greece. One of the successor states of Yugoslavia is a member of the United Nations, North Atlantic Treaty Organisation, Organisation for Security and Cooperation in Europe, Central European Free Trade Agreement, World

Bank and the World Trade Organisation. The country, which tasted independence in the early 1990s, is an open economy. Its Human Development Index is excellent, as it offers a social security structure, health care system and a free primary and secondary education structure. Like other European countries, this country also has a depressing history to share. It has witnessed several unpleasant experiences, from battels to subjugations. The freedom the country now enjoys has the taste of blood. The said statement explains the bitterness of its freedom struggle.

January - February 2021

TRAVELOGUE

Fortunately, North Macedonia is now a stable country. Since the year 1991, it has been consistently growing in terms of GDP, economy and Human Development Index. It has brilliantly handled several troubles such as inflation. Its request for the European Union membership is pending. The main issue that is standing between the request and the approval is its unfriendly relation with certain European Union member countries such as Greece. As it has recently settled its issue with Greece partially, the chance for being inducted as a member of the EU has increased tremendously. What comes naturally with an EU membership is the opportunity for growth and stability. Once

January - February 2021

the Republic of North Macedonia wins a seat in the powerful economic union based in the wealthiest continent, it will commence its journey towards greater economic growth and stability. At present, the North Macedonian economy is as powerful as the European Union economies. Since the independence, it has been steadily liberating its economy. It has come very far from its socialist past towards the liberal future. Its tourism sector has played an important role in its progress, through other sector such as manufacturing and agriculture have helped the country a lot. It is not surprising that its tourism sector is growing steadily. Though the country is a land

locked country with no beaches, it is blessed with beautiful lakes, amazing mountains, picturesque villages, extra-ordinary art, music, culture, cuisine and tradition, and exceptional people. Ohrid, Skopje, Bitola, Struga and Radozhda are the prime tourist attractions in this truly blessed land, which is known for Lake Ohrid. Ohrid is a historic town situated on the UNESCO world heritage site of Lake Ohrid. It is one of the oldest towns in the world. The town is home to several historic ruins. Samuel’s Fortress, which was built to protest the town, is the most attractive destination in this part of the world. The town has a different vibe. It is an extremely vibrant town. Its peak

can be witnessed during the Ohrid Summer Festival, which draws people from across the continent of Europe. The town is the best place to know the rich culture and tradition of North Macedonia. It is extremely popular for its cafes and restaurants. Skopje is the capital of North Macedonia. It is home to the majority of the main official buildings of the country. It is a true trade hub. In the recent past, it has proved that it can emerge as a true international trade destination in future. The architecture of the region reflects its complicated past; undoubtedly, it has a Romain influence, a Serbian influence as well as an Ottoman influence. Porta Macedonia, which is a city square, is the most popular attraction in this part of the country. The city is popular for its celebrations. The September 8th Independence Celebration is the most exciting celebration hosted by the city. Bitola is a real cultural hub. It is special for its beauty. It is home

to several amazing mountain ranges such as Kajmakcalan, Baba and Nitze. Its museums, cafes, art galleries, restaurants make it a perfect socialising destination. Bitola Museum and Yeni Mosque are the popular tourist destinations in the country. The region is the right place to spend a peaceful vacation, as its beauty is undefinably exceptional. Struga is the one which helps North Macedonia to overcome the issue of the lack of beaches. It lies on Lake Ohrid. The main attraction of this city is its calm lake sides. These

Ohrid, Skopje, Bitola, Struga and Radozhda are the prime tourist attractions in this truly blessed land, which is known for Lake Ohrid.

lake sides are home to several amazing restaurants, cafes and resorts. Unlike other similar destinations in the continent, this destination is highly economical. It is not easy to explain what this city can offer in words. It is something that can only be understood through experience. Simply speaking, it is one of the few regions in this mother earth which can offer a healing effect to soul. In other words, the city has a power to rejuvenate soul. Radozhda is a picturesque fishing village along the side of Lake Ohrid. As it is situated close to Albania, it possesses a mixed culture. It holds a unique culture, tradition and cuisine, compared to the rest of the country. It is the best place to know about the rural life of North Macedonia. The Saint Archangel Micheal Church is the most popular tourist attraction in this extraordinary village. “Travelling helps to learn, re-learn and unlearn.” Let’s Plan A Trip Today Itself!

January - February 2021

AUTO REVIEW

Vivek Venugopal is one of India’s top automotive writers with over a decade’s experience in road-testing and reviewing cars. He is currently the Editor of Quarter Mile magazine and a columnist in several leading magazines and newspapers. He is also a highly sought after consulting engineer and market analyst for many automobile manufacturers.

January - February 2021

It does everything a sports car needs to do and more. It can be driven daily, offers 2+2 seating, it’s fast, efficient, it is easy to see out of - as for living with every day, there is no better alternative. This 992 gen is better in every possible way, being nicer to drive and much faster overall than the 991.

Porsche 911 P

orsches have always been special cars. When this new 992 generation of the iconic 911 came out it wasn’t totally my cup of tea. It was too modern, too wide and too different from the smaller Porsches of the past. Porsche knows this Porschephile syndrome 911 enthusiasts suffer from, and that forms a key part of the car’s design. So, like in these sixty years, they have only tweaked the essential bits. The wheel arches and fenders are much more pronounced. The air dams are a lot bigger now

and mimicking that is the rear bumper with a wider valance in black that houses the now bigger exhausts. The 992 is built on the strong foundations of the 991. But it’s a lot better in every possible way. The electric power steering which enthusiasts criticized at first in the 911 is now even better. It’s faster and more direct and you can feel a lot of the road underneath. The electric shaver shaped gear selector, while it doesn’t feel as manly as moving a chunky lever, is much easier to operate. You can slot between D or R in rapid succes-

January - February 2021

AUTO REVIEW

I am not a big fan of the new pop out door handles. They are fiddly to operate and have less space to slide your fingers underneath unless you unlock via the remote beforehand. Porsche might say they are there for better aerodynamics but there was nothing wrong with the old full size door handles.

sion with just a finger – handy when parking in a tight space. The seat rails are lower by 20mm to make you feel closer to the road. While the wheel track has only grown by 13mm at the rear, the car is a lot wider at the front by 50mm. This feels huge from behind the wheel on tight, narrow roads and while parking. But when you throw it around a set of corners, you appreciate how planted it is at the front. I am not a big fan of the new pop out door handles. They are fiddly to operate and have less space to slide your fingers underneath unless you unlock via the remote beforehand. Porsche might say they are there for better aerodynamics but there was nothing wrong with the old full size door handles. The sports exhaust on this car wasn’t all that great sounding. And I don’t like the way that rear spoiler rises up, taking up some of the fenders along with it and reveal-

ing too much of the plastic underneath. The 3.0 litre flat six turbo engine produces 385bhp and 450Nm and it took me some time to convince myself that this was actually a base 911 Carrera. It pulls so strongly that you suspect if the power and performance figures Porsche quoted, were too conservative. Verifying our doubts, our Racelogic recorded a 0-100kmph time of 3.72 seconds which is nearly three tenths faster than Porsche’s own time of 4.0 sec. Think about that for a second, because not so long ago, this would have been 911 turbo territory. The new 8 speed PDK dual clutch gearbox has shorter ratios in the first four gears. It feels more civilised and smoother than the old 7 speed PDK but gives you lightning quick reflexes when you call upon them. The Sports Chrono pack gives you 20 seconds of overboost and that’s

January - February 2021

nice to have when going for a quick overtake or hurling yourself out of a slow corner. The engine has immense torque and feels quite eager to rev for one that’s strangled by two turbos on each bank. In older generations of the Porsche, you needed to get the Carrera S because the standard 911 felt so dull, but not in this. It is plenty fast for most and the performance is so well suited to the capabilities of the chassis, you can enjoy it more of the time. Yet it is so tractable, so easy to drive in traffic and it would even return 10kmpl on my morning commute without trying too hard. Couple that to the great visibility, ground clearance (this one had a front lift kit fitted) and ride quality, and you quickly know why a 911 is the everyday supercar. On the standard wheels which are 19 inchers at the front and 20 at the rear, it can tackle our bad roads bet-

ter than most performance sedans. It is the first time that Porsche has gone for two different wheel sizes in a standard 911 but I like the effect. The front end feels light as it is in a 911 while the rear feels substantial and quite planted. How a 911 works so well with a layout that’s flawed by design, is still something. It does everything a sports car needs to do and more. It can be driven daily, offers 2+2 seating, it’s fast, efficient, it is easy to see out of - as for living with every day, there is no better alternative. This 992 gen is better in every possible way, being nicer to drive and much faster overall than the 991. If the base 911 Carrera is anything to go by, one can only imagine how the higher spec variants would be

January - February 2021

MOVIE REVIEW

Laal Singh Chaddha

t is a comedy film directed by young filmmaker Advait Chandan, who is popular for his debut film, Secret Superstar. The film is the adaptation of Forrest Gump, which is a comedy film released in the year 1994. The film is jointly produced by Aamir Khan Productions and Viacom18 Studios. Amir Khan plays the central character as Lal Singh in the film. Apart from Mr. Khan, Vijay Sethupathi, Kareena Kapoor, Mona Singh, Sharman Joshi, Manav Vij, Vineeta Thakur, Manav Gohil, Vivek Mushran, Yogi Babu and Ammar Taalwala act in the film. The film, which is set to reach theatres soon, can appeal all kinds of viewers.

Toofan

t is a sports film directed by veteran filmmaker Rakeysh Omprakash Mehra, who is also a well-known screen writer. The film discusses the story of a national level boxing champion. It contains all ingredients necessary to emerge as the best sports film of the year. Farhan Akhtar plays the lead character. Apart from him, Isha Talwar, Mrunal Thakur, Hashim Azmi, Paresh Rawal, Darshan Kumaar, Supriya Pathak, Mohan Agashe, Arif Zakaria and Rajendra Chawla appear in the lead roles. The screenplay of the film is written by Anjum Rajabali and Vijay Maury. The film is jointly produced by Farhan Akhtar, Rakeysh Omprakash Mehra and Ritesh Sidhwani.

January - February 2021

No Time to Die

t is the latest film from the James Bond series, which has millions of followers across the globe. The film is directed by acclaimed American filmmaker Cary Joji Fukunaga, who is the recipient of several awards such as Primetime Emmy Award for Outstanding Directing for a Drama Series. The film revolves around extra-ordinary spy James Bond, who is recruited to rescue a kidnapped scientist. Daniel Craig plays James Bond. Other than Mr. Craig, Lashana Lynch, Lea Seydoux, Rami Malek, Ana de Armas, Jeffrey Wright, Ben Whishaw, Ralph Fiennes appear as the central roles. Definitely, the film is as exciting as the films which have come from the series so far. It can easily meet the expectation set by the fans of the series.

Black Widow

t is an action film directed by renowned Australian filmmaker Cate Shortland, who is also a talented writer. The film portrays the story of a KGB trained operative. There are several exceptional action sequences in the film. Florence Pugh, Scarlett Johansson, Robert Downey Jr, David Harbour and Rachel Weisz appear as the lead characters. The film is produced by Kevin Feige. The film has the potential to emerge as the best women centric action film of the year. The film is special in many ways, whether it be the direction part or the cast part. The film can appeal all kinds of viewers.

January - February 2021

BOOK REVIEW

Indian Economy’s Greatest Crisis: Impact of Coronavirus and the Road Ahead Author Price

: Arun Kumar : Rs. 450 (Hardcover)

he Covid-19 disease outbreak has brought the world to a difficult juncture. The outbreak has adversely affected the economy of the world, especially the economy of India. At this moment, the big question is what is the future of the Indian economy. The government needs to find how can the country overcome the crisis. The book is an attempt to address the economic question raised by the Covid-19 outbreak. It is largely a research material. It explains how the country can bounce back to the position where it was a year ago. The book is suitable to economic experts and all those who are interested in the topic.

Maverick Messiah: Political Biography of N T Rama Rao Author Price

: Ramesh Kandula : Rs. 539 (Hardcover)

T Rama Rao was a very powerful actor-politician. He marched proudly towards the corridor of power with the support of the trust he generated in the hearts of the people of Andhra Pradesh (the undivided AP). His success story is unique and inspirational. The book explores the different facets of this extra-ordinary actor-turned-politician. What makes this political biography exceptional is its approach. It not only explains the political life of the leader, but also brings light to his personality, especially his charisma, which helped him to penetrate into the hearts of lakhs and lakhs of people. The book is suitable to all kinds of readers.

January - February 2021

BOOK REVIEW

JP to BJP: Bihar after Lalu and Nitish Author Price

: Santosh Singh : Rs. 478 (Paperback)

n the recent Bihar Assembly Election, the political front, led by the BJP and JD(U), marked an astounding victory over the grand alliance led by the Congress and the RJD. It was an unexpected victory. The victory proved wrong the prediction that the alliance led by the RJD would gain a landslide victory in the election. In the election, in contrary to the assumption, the strength of the front led by the RJD was considerably reduced. The book explores the topic of the triumph of the BJP in the Indian state of Bihar. It is suitable to all kinds of readers.

Coaching: The Secret Code to Uncommon Leadership Author Price

: Ruchira Chaudhary : Rs. 479 (Hardcover)

t present, the world is going through a tough period. The business world remains at its lowest position. A tremendous push is needed to help the world recover from this unwelcoming situation. That push can only be given by talented leaders. This book is a brilliant effort to address the topic of leadership from a new age point of view. The book explains the undetachable relation between leadership and coaching. It teaches how coaching can support the business world. The book definitely assures a great read. It can excite both business enthusiasts and general readers. It stands out for its unique approach.

January - February 2021

Printed On 09/ 01/ 2021

RNI Reg No. KERENG/2011/42633