Piggybacking on a ninja with exploding arms - US subprime rate views.

The Indian Housing Finance and Real Estate market has a lot to learn from the US Sub prime crisis. I happen to read a very interesting point of view put by Mr. Deepak Parekh (Chairman HDFC and one of the pioneering financial thinkers that India has ever produced). Here are some of the excerpts -

The US sub prime mortgage crisis is likened to Piggybacking on a 'Ninja' with 'exploding arms'. A piggyback loan is a second mortagage enabling a borrower to buy a house with little or no equity. 'NINJA' is an acronyn for borrowers with no income, no job, or assets while 'exploding ARMS' are mortgages with initial low, fixed interest rates which escalate to a high floating rate after a period of 2 or 3 years.

The US sub prime rate crisis is a result of a vicious circle where all involved have to take the blame and responsibility, be it the borrower, lender, investor, advertiser, people who rate the quality of the mortagages and even the regulator and market (both US/global - as they purposely failed to see this crisis coming).

Actually Indian market unlike the other big global financial markets have been fairly insulated from this crisis as we do not have any sub prime rates as such and our central bank - RBI(Reserve Bank of India) was quite proactive in seeing a prospective housing loan bubble or over heat happening in the near term and quickly took steps to correct them.

Thanks

Ajit

I want to read the book Seeing red written by Graham Poll

I would say that for a person like who is fond of writing and sharing his views and considers reading/writing as something close to his heart similar to being a hobby or passion, my poor effort at not reading into any new book as a very lazy effort. Recently i have come across some good reviews on a book " Seeing Red" written by one of the best Football referees that the English have ever produced Mr. Graham Poll and I want to read it. Graham Poll being the controversial soul that he is gives a lot of insights into the tunnel and other back room knowledge that he personally came across int he various high profile club/country matches that he officiated. One incident that iparticularly want to get a first hand knowledge about is the famous tunnel run in @highbury between Roy Keane of Manchester Untied and Patrick Viera of Arsenal.

I will be soon laying my hands to this book Seeing Red and if I have come across something interesting will defintley share the same.

Enjoy and have a good weekend.

Look how the business of club football is played like a typical business boardroom battle.

Football Comment: Hell hath no fury like a Mourinho scorned! Courtesy - Kelvin Leong & Espnstar.

Well Done Kevin, I enjoyed readung the article and it is fantastic and worth the salt.

The boys in school are talking about it, the butcher at the market is talking about it and as I passed the coffee shop below my block, the beer guzzling uncles were gossiping about it.
One would have thought that some political figure must have been assassinated, or at least a famous celebrity found dead after an overdose of drugs. Sorry to disappoint, but it was the sacking (or did he resign?) of Chelsea’s motor mouth coach Jose Mourinho that has been the big news.
Reports came flying out fast and furious in the media and every soccer fan was texting one another to find out more. So now that reality has set in and we don’t have to rub our eyes in disbelief anymore, the next few days will surely see a flurry of discussions on what Mourinho plans to do.
The man has too big an ego to think of taking a break away from football for long. As a result, here are two suggestions as to how he might be able to plot his revenge on Chelsea and their Russian money-tree, Roman Abramovich.
Plan A. Almost every interview that Mourinho has ever done which mentions his family, makes it clear that they are settled and happy in London. His wife and kids enjoy the city a lot and for this reason alone, Mourinho’s likely destination might not be an plane ticket away but just a bus ride.
Tottenham Hotspur, just across town from Stamford Bridge, might just become his new home, as it has all the qualities needed for him to carry out his revengeful plot on Chelsea.
Martin Jol’s head has been on the chopping block for weeks and the only reason he’s still there is probably down to the lack of a better manager being available.
Now that Mourinho is on the market, Spurs chairman Daniel Levy should pick up the phone to ask if the former Chelsea head honcho is keen on the hot seat at White Hart Lane.
Mourinho might just take up the offer as that will allow his family to stay in London. Above all that, what better way is there to annoy his former employees than to join their city rivals?
Once Mourinho signs on the dotted line with Spurs, he will start toying with the media, no doubt to the detriment of Chelsea. What price then his ability to persuade Frank Lampard to join Spurs. After all, Lampard has already refused to renew with Chelsea because he wanted to see if Mourinho is staying.
And if Michael Bullocks, I mean Ballack, is so unhappy at the Bridge, Mourinho might just take him to the Lane. On top of that, he might as well drop Didier Drogba a line to encourage him to join AC Milan. Oh, and don’t forget, Mourinho might know the exact details of how Chelsea managed to lure Frank Arnesen from Spurs. How the journos would lap that one up.
Of course, if Plan A can’t be executed because Martin Jol has found some miracle superglue to stick himself onto the hot seat at the Lane, Plan B is just as good.
Destination, Spain. Club, Valencia.
So why Valencia and not Madrid or Barcelona you might ask. The answer is simple and twofold. First, look at the Champions League tables and search for Group F. Top of the table is Valencia, and then you look further down the table and you find, Chelsea! Then you see the fixture list and tadah! October 3, 2007. Valencia against Chelsea at The Mestella!
Mourinho will jump at the chance of squaring off against Chelsea so soon after leaving them. His cause will be helped by Valencia being a team capable of beating the west London outfit. We all know how much Chelsea want to win the Champions League and you can bet on Mourinho knowing that too.
Secondly, why wouldn’t Valencia want Mourinho? The Mestella faithful are crying out for a coach with a strong personality to lead their team. What about the side’s current coach Quique Sanchez Flores? The players refuse to listen to his tactics and star men David Villa and David Silva are annoyed with him. Mourinho for Valencia? Worth a bet.
So now, we sit back and eagerly await this long drama to play out before our very eyes. And come next May’s end of season fun and games, Mourinho might become the first Portuguese nominated for Best Director in a Drama series at the Emmy Awards.
I cannot wait for the thank you speech come awards night. Revenge could not be sweeter.

How to decode the Pay Slip ?

A salary slip is one of the most confusing pieces of paper you will deal with, especially when you move into a new job. Few of us bother to try and understand the various elements in our pay slips. Which is why a salary that looks great on the surface might actually give you little cash in hand at the end of the month? What do the different parts of a salary slip actually mean, which parts eat into your net salary and which ones are there for decorative value only? This story helps you become salary smart.
Questions 1. Is failing to get into the nitty-gritty of your salary break up when switching employers a potentially costly mistake? Why?

Yes, I would say it is always good to analyse one’s salary before joining a new job. The simple definition of a salary is a form of periodic payment from an employer to an employee, which is specified in an employment contract. From the point of view of running a business, salary can also be viewed as the cost of acquiring human resources for running operations, and is then termed personnel expense or salary expense. But are today’s salaries with its various subplots as simple as it looks? My answer is a big No. Today, a salary incorporates a lot of components and is interlinked with the applicable tax structure and has various intangible benefits attached along with it. Prevention is always better than cure.
2. Could you name some deceptive salary components that, though part of the overall CTC figure, are (mis)used by companies to lure candidates? (Some examples you could elaborate on: annual bonus –which you don't get in full, food or canteen allowance, employee training costs, interest subsidies, PF contributions, etc.)

The term CTC (Cost to Company) is the most deceptive term by itself used very loosely at each firm’s convenience. Now CTC as a term includes everything and anything under the sun and hence it is very difficult to analyse an individual’s salary as the net difference between the CTC and the actual money that gets deposited every month in his salary account is becoming larger by the day. I have mentioned a host of components that form part of CTC that have come across in my professional life below but I am sure to have missed quite a few of them still. When a firm hires an employee and the salary negotiations happen, it needs to be as open, pragmatic and true as it can be with the employee. It is always better to set the expectations of the prospective employee upfront and ensure there is a lot of clarity in the salary front. I personally feel the HR of a firm has a big role to play in salary negotiations and it will help the firm a great deal in the long term.
3. What are some of the 'good components' that you NEED to look out for in a prospective employer's salary offer?

Salary or Fixed pay has continued to evolve/change as times have passed by. Salary or compensation does raise various proverbial questions on the pay like - Does the firm resort to a uniform pay on merit or include components like ESOP’s, profit sharing. Do they get into factor comparison and rank the various jobs like comparison on skills/effort/responsibilities and working conditions. Actually the proactive firms of today need to look at Salary as being part of the Total Rewards System (TRS) which includes the fixed /variable pay with all other fringe benefits like bonuses, perks and benefits etc. attached with it, thus helping the employer link rewards to an employee’s measured performance and some are taking bold steps on this front. This view will ultimately have an over binding impact on greater employee satisfaction and lesser attrition rates.
4. How important is it to understand the FBT or fringe benefit tax deduction concept at the outset and what effect does FBT have on your overall income? That is, out of two individuals with the same CTCs, who pays more tax at the end of the year - the person who pays FBT or the one who doesn't?

The taxation of perquisites or fringe benefits provided by an employer to his employees, in addition to the cash salary or wages paid, is fringe benefit tax. Any benefits or perks that employees (current or past) get as a result of their employment are to be taxed, but in this case in the hands of the employer. This includes employee compensation other than the wages, tips, health insurance, life insurance and pension plans. Although these are to be taxed on the employer, it has an overbearing impact on the employee as the employer may stop providing a lot of these features or benefits to its employees or try to recover these additional benefits/perks provided to the employees as promised in his or her CTC in one way or the other. I think their still needs more clarity from the government on the FBT issue and based on the feedback the govt. is trying its best to bring more clarity on FBT. FBT is still an issue inviting a lot of interesting views and my opinion is that it will have one more major revamp in the coming budget which should make FBT more user friendly to both the corporates and the general employees.

5. Are certain sectors at fault for using lucrative-sounding CTCs to lure candidates? Which ones?

A CTC can incorporate any or all of these depending on various factors.

Basic Salary Commissions/Incentives Bonus Dearness allowance Child Education Allowance (better give as reimbursement to save tax) Child Hostel Allowance (better give as reimbursement to save tax) City Compensatory Allowance Conveyance Allowance House Rent Allowance Leave Travel Allowance ( better give as reimbursement upto a maximum of 15,000/- to save tax) Lunch Allowance Medical reimbursement to a maximium of 15,000/ (otherwise it will go in tax) Newspaper allowance (better give as reimbursement to save tax) Special Allowance Gift voucher Club membership (save tax)
Uniform Maintenance
Professional Enrichment Allowance
Vehicle/Phone Allowance
Entertainment Reimbursement/Dating Allowance etc.

Yes, a lot of the sectors today are at fault in using lucrative sounding CTC and they think it is a sure shot way to employee retention. Most of the flak needs to go to the sunrise sectors of the recent years especially IT sector. Some other sectors are the Airlines (more with talent shortage), even manufacturing, KPO, Retail, Pharmaceutical, Biotech and Healthcare.
Generally a badly made CTC leads to a bad relationship and rocks the foundation of the relationship or trust that is built between the employee and the employer. Unfortunately the market in India today has a lot of over paid and poor skilled employees and it shows. Today to find the right talent is a premium and I personally feel companies do not make enough efforts to get the right talent and resort to such short cuts like making fancy looking CTC packages. I say India needs a tough regulator in the recruiting industry to take it to the next level.

What defines a big Football club?

Being a ardent football fan especially the English premier League, I thought this article by Antony Sutton ont eh pedigree that defines a club being big is a good and informative article. Courtesy Espn Star.


I always have a quiet chuckle to myself when I hear Chelsea described as a big club. If three championships and four FA Cups in 102 years make a big club then ok but who has lowered the bar to greatness?
Wolverhampton Wanderers likewise have three titles and four cups while Sheffield Wednesday have four titles and four cups; are they big clubs? What makes a club big? Is it purely their current record and if so, are Arsenal a big club? They have won nothing for a couple of years after all. Success obviously plays a role in defining a club as big but surely so do history and tradition? It is these qualities that get passed from father to son and it is the stories of the past that warm us during drab 0-0s when we almost wonder why we bother. But success? Success is often so transient, so fleeting. Wolves were massive in the 1950’s, champions three times and runners-up twice but little before and little since. For their fans they are of course the best and biggest club in the world but in the wider scheme of things? Just another club who has had some glory but now plod along waiting for a sugar daddy to open his wallet.
To be a big club then you need sustained success. A collection of pots and trophies spanning the decades, each pot with its own story and legend. Liverpool of course fall into this category. A record 18 league championships since 1900, seven FA Cup wins since 1965 and enviable success in European competition. But there’s something else about Liverpool. There is a glamour attached to the club, the Kop, You’ll Never Walk Alone, Bill Shankly. You can’t buy glamour, it is an unquantifiable essence that either attaches itself to your club or it doesn’t. It’s passed down over the years from Ian St John to Keegan to Grobbelaar’s shaky knees routine in a European Cup Final. It’s beating AC Milan on penalties coming from behind, it’s the Kop in full voice. It’s the many things that make up the Liverpool experience and keep people round the world supporting them even while the Premiership evades them.
Liverpool became successful through shrewd management. This summer they signed Fernando Torres for a fee that could have paid off a small African nation’s debt but it’s worth recalling in years gone by Shankly and Bob Paisley did their shopping at the corner store. Kevin Keegan, Phil Neal, Ray Clemence and co., these guys were picked up for a song from lower division clubs and put in the reserves to learn the Liverpool way. It takes a keen eye to spot talent and this perhaps is one skill missing from managers of today with the possible exception of Arsene Wenger. Indeed, not until Keegan left in 1977 did Liverpool really splash the cash on one player and that was to sign some guy named Kenny Dalglish. While Keegan hit the headlines players like Neal performed steadily and consistently and became part of the legend that is Liverpool today.
Manchester United of course are big. They won their first Championship back in 1908, their first cup of 11 a year later and have been successful ever since. But while Liverpool are big in terms of trophies and the glamour associated with the club United are big in a different way. They are England’s premier celebrity club where the players are just as likely to be the headline makers as the club itself and the club shop is as much a tourist site as Buckingham Palace is in London. Be it the inimitable George Best, Bobby Charlton, Denis Law or the 21st century vintage of Beckham, Ronaldo and Cantona. United’s appeal is as much pop star as football. Ronaldo’s chest and smile are as much PR as anything the club does on the pitch; the tours of Asia resemble Beatlemania more than any serious attempt at developing the game locally.
United have personified glamour ever since Best became the fifth Beatle and the media infatuated in where the genius Irishman spent the previous night. Perhaps only Manchester United could allow a professional footballer so much freedom. Perhaps only United encourage the impression that an individual player can be bigger than the club. From that night at Wembley in 1968 when they became the first English club to win the European Cup to Barcelona 1999, to nine Premiership titles, United have drank success often enough to be classed as a big club. But there’s more about United. It’s the Bests, Charltons, Beckhams, Giggs. It’s Scholes and the Nevilles and McIlroy. For all their largess in the transfer market, United have traditionally looked to youth.
And then we have the Arsenal. Their first title was 1931, their first FA Cup a year earlier so they came to the party later but since then Arsenal have consistently added to their haul, the 60’s being the only blot on the roll of honour with nothing to show. Not for Arsenal the sheen of the celebrity footballer, they share with Liverpool the team ethic. Until the Wenger years success in London came from a tightly knit bunch of local lads who had come through the ranks gelled with some smart buys in the transfer market. George, Merson, Adams, Thomas, Rocastle, Armstrong, Rice, ask any Gooner and the names fair roll off the tongue. Throw in smart signings like McNab, McLintock, Bould, Dixon and Fabregas and the picture you get is one of a mistrust of the ‘star’. Big money signings over the years haven’t always been great successes, think Blockley, Hudson, Reyes, Wiltord, Jeffers.
There’s an Arsenal Way of doing things that involves a lot of hard work mixed with last minute winners and this has become the fabric of the club. Don’t pull your weight and you’re gone. While the club develops a new youth policy looking for new Bradys and Mersons, Wenger seems happy enough to follow the old Anfield method of casting near and far for talent at bargain prices; the uncut diamond just a polish away from shining. Players who shun the limelight and have something to prove on the pitch. Arsenal may lack the glamour of United, they’re a tad traditional but the fans love them for it. Even now as everyone billionaire lines up to throw cash at English football Arsenal sit back and pooh pooh the idea. They have their traditions and values and will stick to them as long as possible.
And Chelsea? Throughout their 100 + year history they have had little in the way of success. Their previous golden age came in the late 60’s - early 70’s when the King’s Road was the centre of the music and fashion world and Hudson and Osgood the lords of the Bridge but it was ephemeral. One FA Cup in 1970 and a Cup Winners Cup a year later was it until 1997 when Chelsea appointed Ruud Gullit. Since then, Chelsea have won trophy after trophy with two Premiership titles and three FA Cups plus the odd League Cup and another Cup Winners Cup. A golden era for sure but not enough to make them a big club. Their policy of signing established stars from the most expensive boutique falls way short of Manchester United and Arsenal’s method of mixing youth with experience. Indeed there is something obscene in the whole notion of using cold hard cash and nothing else.
And that is maybe another dynamic into what makes a big club. Liverpool, Manchester United and Arsenal have won trophies over many decades and done so with a touch of class. Chelsea, the brash young upstart, have come to the party throwing their weight around, acting big time Charlies. But it’s all an act. They are dancing to the tune of a flighty conductor and when he throws his baton away do you think those players will stick around? There will be a fire sale at the Bridge and plenty of bargains to be had. And guess who will be sniffing round with open cheque books and a century of pedigree behind them?

Our trip to Vizag

I am here talking of a journey of relatively short duration organized by Kenexa India for all its managerial level employees to visit the port city of Vishakhapatnam popularly known as Vizag. Little did we know when we set out for a journey to our next possible work destination (our new office location) in Vizag that we will be having such a wonderful blast filled with a lot to learn and understand. The entire trip was a great experience for each one of us and I will like to thank the organizers for helping us go through such a wonderful experience. We had a whole weekend lined up to spend in Vizag. To start with Kenexa had got permission to get a dedicated train compartment only for its employees. This was rechristened the “Kenexa Vizag” compartment. The port city of Vizag is roughly 700 kms North East of Hyderabad and has strategic importance to India with a considerable presence of Indian Navy, boasts of one of the best ports in India, has a steel plant (in fact the only steel plant owned directly by Govt. of India). Vizag is known more as a tourist destination and has a good representation of the basic infrastructure capabilities.

The train journey was fun by itself with the journey time lasting 14 hours. We had the train departing Hyderabad by early evening and ensured all the travelling entourage in the train well in time. Kenexa had ensured all travel related niggles and stuff was well taken care of and the journey was perfectly set. The train departed Hyderabad on time and everyone had a sense of feeling that something good was happening with this trip. The train journey was indeed a blast. The one good thing that I can vividly recount myself is the level of interaction and it was very good amongst us. The Kenexa camaraderie was not found lacking as the trip progressed. As the train ambled towards its destination and the night set in, the mood inside the compartment was one of expectation of the things to unfold in Vizag the next couple of days. People in the train indulged in some fun activities amongst themselves and thus the atmosphere became light and lively. We all were fed with a sumptuous platter of Hyderabadi biriyani specialties as dinner. The next day we reached Vizag and went straight to the hotel, The Park.

The Park is right besides the beach in Vizag and has a breathtaking view to the Bay of Bengal. One can see a slew of ships lined up far across the sea waiting for their turn to dock into the Vizag port. It is really worth watching. After a quick bit of break where all got freshened up for the day, we all met at the breakfast table and regrouped ourselves into our respective groups who were assigned some tasks to explore the city more and help in general to understand the city better, teams formed to explore the Vizag city on real estate, shopping, entertainment, schooling, emergency facilities like hospitals etc. Post our breakfast we all went with our respective teams to explore more on the above areas in and around Vizag and also got to see for the first time the Kenexa building atop Hill Number 3. It was indeed good to see our building from as far across the Vizag International cricket stadium. One has to go there or see the photo close ups to know the distance between the two. All the assigned teams worked enthusiastically till late in the afternoon to collect some valuable data on the city. This data is going to help the company to understand the city and its environs better on the above mentioned parameters. Once back to our hotel rooms, we had a wonderful evening party awaiting us. We did have a press briefing on the new facility also. The party setting was just perfect with sea as a backdrop and non stop DJ music, all of us did unwind in the dance floor to some peppy numbers. The day ended with the dinner being served alongside the party.

The next day morning all were scheduled to visit the Kenexa site post our breakfast. The arrangements where done for the same. We all visited the kenexa location at Hill Number 3 in the morning. We were told that quite a bit of work had been done of late and one could see lot of labourers going through their act. The facility looks good and one could see lot of open space (Planned for greenery and will help the facility become an environment neutral facility) right in front and surrounding areas of the kenexa building. The people at the kenexa site did brief us through the construction activities and other key attributes related to the site. I just stood there to watch my fellow journeymen as all were listening quite eagerly to the conversation by the so called experts there at the location. It showed how much all of us desired this location to come good. We were at the location for more than couple of hours and people did take a lot of pictures and stood for a lot of group photo ups. Some were seen enquiring about the surrounding construction activities and other general conversations were seen happening amongst the groups. We were all reasonably confident of the construction activities there and thought the deadlines for the building completion to be fairly achievable. Once the location was fully surveyed by us to our satisfaction, all were taken back to our hotels for our lunch and the journey back to Hyderabad. We had the return train to catch early evening the same day. All of us boarded the bus to the station and later took to our respective seats in the train. On the train leaving the Vizag station, one could feel that all had a good enjoyable trip to our new location and more or less made up their decision on Vizag.

Mankind's transition...

Some world facts...let us do something to help save it.

POPULATION GROWTH
Global population is expected to grow by 1% per annum on average, from an estimated 6.4 billion in 2004 to 8.1 billion in 2030.
The demand for energy is growing at an average of 1.6% per annum. Global Energy Demand is projected to increase by 53% from 2004 to 2030.
DEVELOPING COUNTRIES
70% of increase in primary energy demand during this period comes from developing countries. A result of the economy and population growth in these countries, which shifts the centre of gravity of global energy demand.
Average growth of world GDP – 3.4%.
COAL/ OIL/ GAS
Fossil fuels account for 83% of the overall increase in energy demand.
Oil is the single largest fuel in primary fuel mix in 2030, though its share drops from current 35% to 33%.
Coal sees the biggest increase in demand closely followed by oil.
Energy exports from non-OECD to OECD regions rise by 47%.
ELECTRICITY SHARE
Power generation accounts for 47% of increase in global energy demand by 2030.
Among all major end-use energy sources, electricity is projected to grow most rapidly by 2.6% per year as against the 1.6% growth of primary energy demand.
Coal sees the biggest increase in demand closely followed by oil.
CO2 EMISSIONS
Global energy-related CO2 emissions increase by 55% between 2004 and 2030 at the rate of 1.7% per year.
Developing countries account for 75% of increase in global CO2 emissions in this period.
Power leads the usage sector in CO2 emissions at 44% in 2030, followed by transport at 20%.
Coal overtakes oil as the leading contributor to global energy related CO2 emissions and continues till 2030.
Oil related emissions fall from 39% to 35%.
2030 OECD* per capita CO2 emissions – 11.98 tonnes of CO2 compared to non-OECD per capita 3.55 tonnes.
CO2 EMISSIONS
Global energy-related CO2 emissions increase by 55% between 2004 and 2030 at the rate of 1.7% per year.
Developing countries account for 75% of increase in global CO2 emissions in this period.
Power leads the usage sector in CO2 emissions at 44% in 2030, followed by transport at 20%.
Coal overtakes oil as the leading contributor to global energy related CO2 emissions and continues till 2030.
Oil related emissions fall from 39% to 35%.
2030 OECD* per capita CO2 emissions – 11.98 tonnes of CO2 compared to non-OECD per capita 3.55 tonnes.
INVESTMENTS
Meeting the world’s growing hunger for energy requires massive investment in the energy supply infrastructure. WEO-2006 calls for a $20 trillion (in year 2005 dollars) investment over 2005-2030. Power Sector accounts for 56% of total investment.
50% of energy investment is in developing countries.
China alone needs to invest $3.7 trillion.
Capital expenditure amounts to $4.3 trillion in the oil sector and $3.9 trillion in gas.
(Source: World Energy Outlook, 2006, International Energy Agency) *OECD – Organisation for Economic Cooperation & Development

Future of Mobiles

It is so amazing and unbelievable to believe the present day incarnation of a mobile device. It is indeed very difficult to believe that it would have reached such levels some 10 odd years ago. Representing the present generation it is indeed a culture shock seeing so many new features being added into a mobile device and I will say that the mobile devices are far outpacing the so called business norm set by Moore’s law in computing. Now they are talking of a so called concept called Mobile Wallet (M-Wallet), a time when mobile is set to replace everything for your wallet be it credit/debit cards, visiting cards, company ID, cash cards, photo albums etc. Unbelievable but yet true.

This is already in use to a large extent in Japan, always the mobile market which has shown the world its mobile innovation techniques even at the day to day personal life. The Japanese mobile market would like to make the mobile device usage as converged as possible to seamlessly make it adaptable to a common man’s need. One of the concepts successfully being implemented in Japanese market is the concept of mobile money (m-money). Some of the key m-money usages for Indian’s could be money remittance by expatriates back to India. Mobile Money Transfer (MMT) is one of the first applications that could be introduced by Indian mobile operators, who are testing this phenomenon at present. According to one of the estimates India is the largest recipient of international remittances worldwide at $ 22 billion (2005 data). This figure globally stands at $ 230 billion. This is a huge pie and a great business value addition for the mobile operators who can have a direct impact on their ARPU (Average Revenue per User) figures. This is a huge business opportunity for mobile commerce (m-commerce) companies.

How will the M-wallet work?
The m-wallet technology still needs more refinement but it will extensively use the RFID technology for data transfer with high tech security attached to it. But RFID technology is supposedly a costly application and once a common platform or norm is being devised amongst the stakeholders (govt., mobile operators, service providers and the component manufacturers) to have a common acknowledged eco system then the system will start producing m-wallet enabled devices. One of the key things is the software compatibility or standardization amongst the various operators or the consumers may loose out in the end. Hence in future m-commerce application such as bank account logins, credit card statements, buying train/airline tickets and paying utility bills will be accessible and executed through your handheld device.

It is very easy to make out the ominous advantages, post the advent of such an application. I did read from sources that Bharti Airtel and SBI is jointly conducting a pilot of this service.

Great going guys with your handhelds!

Justin Henin ardenne is a great athelete
Justin Henin, the reigning women's tennis number one reminds me of watching any of the men's singles matches. She looks a frail character physically although nobody must doubt her mental frame of mind. But the point here is her thought process and her physical approach. I have been watching tennis for more than a decade and it has more been like a pastime than being a passion. I am a self confessed club level football fan and do watch cricket with a lot of interest and passion. I have grown up watching the likes of Steffi Graf, Chris Evert, Martina Navratilova, Gabriela Sabatini and Jana Novotna and never seen a women’s player with a men’s style or approach of play, the closest being, Amelie Mauresmo (the on and off colour French star).I was watching the match yesterday between Serena and Justin and could not believe Justin playing unlike women. She has extreme sense of athleticism, packed with her body being agile and fit. If we were to pick up the leading ladies in the women circuit like Anna Ivanovic, Maria Sharapova, the Williams sisters, Nadia Petrova, Svetlana to name a few Justin does stay ahead. All her fellow contemporaries concentrate a lot on the other aspects of the game like improving on their ground strokes, racket swings or trying to maximize the forehand/backhand shot selection with pin point accuracy. Justin’s physical endurance is a testimony to her winning most of the rally points compared to other women players. It is one the demerits of Tennis according to me. I think the tennis federation can bring about certain changes in the manner the game is played, just to add or experiment and see the results. One of them that can be brought about in women’s tennis is to have a mandatory rally point twice in a set. In this they can disallow a player to hit an ace and have a rally between the players. Justin Henin is truly a world champion, there is no denying the fact and I think she will be winning the Wimbledon crown also, unlike what many others think.But one positive has been the general level of improvement among the women players. I think there is good set of challenger’s to the lead pack of 5 in the women’s circuit which was one of the major disadvantages of the circuit.Competition brings in the best and it is a treat to watch the matches. I am enjoying the Wimbledon this year.