CareerVista_Volume1

5/20/2018 CareerVista_Volume1

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The recent controversy over the arrest of 3 players of Rajasthan Royals for alleged spot-fixing has brought thespotlight on the murky side of IPL. Behind all the glitz and glamour, there is a world of corruption and greed. There

is also a growing view that betting on cricket (and sports in general) should be legalized.

Gambling and Sport s Bett ing

Gambling is one of mankinds oldest vices and has been around in since ancient civilizations. Gambling forms a key

part of Mahabharata, where Duryodhana, with the help of Shakuni cheats Yudhisthira and the Pandavas in a game

of dice.

In Modern India though, Gambling has largely been seen by the government as a sinful activity, which must be

prohibited.

The Public Gambling Act of 1867 prohibits running or being in charge of a public gaming house. The penalty for

breaking this law is a fine of 200 rupees or imprisonment of up to 3 months. Additionally, this Act prohibits visiting

gambling houses. A fine of Rs 100 or imprisonment of up to one month is the penalty. The Information Technology Act

2000 regulates cyber activities in India and prohibits publication or transmission of information that can corrupt

people. This includes online gambling and the punishment for such activities is much more serious than for offline

gambling operations the fine is Rs 100,000 or imprisonment up to 5 years

Despite the existing prohibitive legislation, there is extensive illegal gambling throughout the country. The Indian

gambling market is estimated to be worth US $60 billion per year. This includes

(a) Legal gambling: Horse racing, Lotteries and Casinos (Sikkim and Goa are the only states where Casinos have

been legalized)

(b) Online gambling: Indians making bets through online sites based abroad. Money is transferred through credit

cards or various eWallet services. This is a legal grey area as these sites are legal in their own country

(c) Illegal gambling: Satta, Matka or Cricket betting run by illegal bookies many of them connected to the underworld,

with links to people like Dawood Ibrahim

Match Fixing and Spot fixing?

Match fixing is a term used to denote the fixing of a match to get a pre-determined outcome. This ensures (especially

so if it is an statistically unlikely outcome) that specific bookies win heavily at the expense of the bettors. For

example if we have a Pakistan Bangladesh match in a world cup, the odds favor a Pakistan win and it is likely that

most people bet on a Pakistan win. However if some players (or umpires) are bribed to ensure an upset win for

Bangladesh, then the bookies tend to make a lot of money.

However, given that a game like cricket is a team game with 11 players each, it is difficult to bribe all or a large

enough number of players to be sure of the outcome of the match. Hence Spot Fixing is known to be used. Spot Fixing

relates to betting on certain specific controlling sub events within the game, such as the number of runs scored by

a specific batsman, runs conceded in a particular over etc. Since Cricket is game with many such small outcomes

occurring almost every minute, it is highly vulnerable to spot fixing. And these smaller outcomes can be fixed by a

bribing a particular player. For example Ajit Chandila and Sreesanth are allegedly to have fixed the number of runs

to be conceded in a particular over (>11 runs for example). Also Mohd. Asif and Mohd Amir of Pakistan were

convicted of being bribed to bowl no balls at a predetermined point.

A new Law against Match Fixing

It seems to be that the Indian Penal Code has no law against Match or Spot Fixing and the players can at best be tried

under Section 420 relating to cheating. Who cheated whom? Can intention to cheat and wrongful loss be proven?While it can be said that genuine sports lovers including ticket-paying spectators have been cheated, that would be


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difficult to prove. In fact, Rajasthan Royals, which has contracted the players, is the only entity who can file a

cheating compliant and the penalty appears too light.

The Union Law Ministry is said to be contemplating a new law that makes Match and spot fixing a criminal offence

creating provisions for strict punishment. Currently the minister is consulting the attorney general as well as Board

of Control for Cricket in India (BCCI) on this issue.

Should sports betting be legalized?

Following the controversy, many experts have called for a legalization of sports betting in the country. Lets study the

arguments for and against the proposal.

FOR

Legalizing sports betting would bring in more competition and transparency into the secret world of bookies, which

could curtail illegal betting. International betting houses have ensured that betting online is safe, secure and

subject to minimum interference by outsiders

People who place bets today have no legal protection in case of cheating by the bookie.

When something such as gambling is made i llegal, it does not prevent the activity, it simply drives it underground.It then allows criminal elements to earn and grow and even use the funds for other criminal activities like drug

smuggling and terrorism.

Competition from private legal betting corporations would wipe out or largely diminish illegal betting syndicates.

It would also make Match Fixing and Spot fixing easier to identify and punish.

Legalizing betting, the court said, would help the government keep track of the transfer of funds (currently done

through hawala channels) and even use the revenue generated for public welfare

Lastly the argument that laws should be made to protect us from injury or harm from others rather than to protect

us from ourselves by regulating actions that are made through free will and do not harm others

AgainstGambling is sinful activity, which should not be encouraged

Gambling is addictive and can ruin the individuals and families. There is substantial evidence that gambling can be

an addiction and people have been known to bankrupt themselves ruining their own lives as well as those of their

family.

Legalizing gambling may allow criminal elements to form legal corporations and indulge in money laundering.


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NAXAL s and SALWA JUDUM

The term Naxal derives from the name of the Naxalbari village in West Bengal, where the Naxalite movement had

its origin. The Naxals are considered far-left radical communists, supportive of Maoist political sentiment and

ideology. Their origin can be traced to the split in 1967 of the Communist Party of India (Marxist), leading to theformation of the Communist Party of India (MarxistLeninist). Initially started in West Bengal and then in later

years, it spread into less developed areas of rural southern and eastern India, such as Chhattisgarh, Odisha andAndhra Pradesh through the activities of underground groups like the Communist Party of India (Maoist). The

various groups CPI (ML), PWG, MCC etc have merged to become CPM (Maoist). They oppose our constitutionaldemocracy and seek to form a Peoples Govt through armed rebellion. They have a strong presence in the backward

especially Tribal areas, typically remote underdeveloped areas with forest cover. They have strong presence in the

states of Jharkhand, Bengal, Maharashtra and Chhattisgarh.

Chhattisgarh has always been a favorite with the Naxals. The Bastar and Dantewada districts of Chhattisgarh have

traditionally been sparsely populated and rich in natural resources but also with some of the poorest tribal

regions. The Naxalites progressively increased their influence and control among local tribals through a combinationof political mobilization (around poor governance, land rights, livelihood and social inequity) and force.

The first movement against the Naxalites in Chhattisgarh was the Jan Jagran Abhiyan, started in 1991 by Mahendra

Karma, a local tribal leader. This was mostly led by local traders and businessmen. This collapsed, and the leadershad to seek police protection.

Then since June 2005, the Government of Chhattisgarh, with the support of the Home Ministry has been waging acounter-insurgency operation against the Naxalites in a spontaneous, self initiated, peaceful, peoples movement

named the Salwa Judum in Dantewada district of Chhattisgarh. The district administration claims that upset with

the Maoist strike call on collecting Tendu leaves and opposition to development works like road construction and

grain levies, people in some 200 villages began mobilizing against the Maoists, going on processions and holdingmeetings. Mahendra Karma, a Congress Member of the Legislative Assembly (MLA) and the leader of opposition in

the State Legislative Assembly became the public front and took the movement to various parts of the region.

Far from being a peaceful campaign, Salwa Judum activists are armed with guns, lathis, axes, bows and arrows. Up

to January 2007, 4048 Special Police Officers (SPOs) had been appointed by the Government under the Chhattisgarh

Police Regulations, who were paid an honorarium of Rs 1,500 (Rs 3000 in 2011) per month by the state government,

were trained and armed, with mostly .303 rifles. They actively participated in the Salwa Judum and are givenmilitary and weapons training by the security forces as part of an official plan to create a civil vigilante structure

parallel to that of the Naxalites.

Salwa Judum herded villagers and tribals in makeshift camps, where human rights abuses were rife. Entire villages

were abandoned completely in order to deny supplies and information to the Maoists. Salwa Judum became increasingly

violent and out of control. Salwa Judum is also accused of burning and evacuating out 644 or more villages, making

300,000 people flee their homes. Since the inception of the movement in 2005, over 800 people, including some 300security personnel, have been killed by the Naxalites, SPO deaths alone total 98 one in 2005; 29 in 2006; 66 in 2007;

and 20 in 2008, when the Maoists rebels continued their attacks, though now considerably more dramatic from the

previous years, they were now splitting into smaller groups and specifically targeting Salwa Judum leaders and

security personnel who were ambushed in weekly markets in remote areas, and their weapons stolen, also postersthreatening Salwa Judum leaders continued to appear in villages across Dantewada and Bijapur

As the situation further escalated in the past few years, Human Rights Watch reported atrocities at both ends, andreported large scale displacement of the civilian population caught in the conflict between the Naxalites and Salwa

Judum activists with at least 100,000 people moving to various camps in southern Chhattisgarh or fleeing to

neighboring Andhra Pradesh as of early 2008. By mid-2008 the figure grew to 150,000 tribals being displaced. There

has been widespread criticism of this government supported militia consisting of uneducated and in some casesminors with very little training. These SPOs have indulged in violent crimes including looting and rape. They have

systematically targeted villages where people have refused to move to Salwa Judum camps and cut them off from

supplies and access to education, healthcare etc

As reported in a leading newspaper, the Supreme Court directed the Chhattisgarh police to immediately cease and

desist from using SPOs in any manner or form in any activities, directly or indirectly, aimed at controlling, countering,

mitigating or otherwise eliminating Maoist/Naxalite activities and directed the police to recall all firearms issued

to these men. On July 6, 2011 Supreme Court declared Salwa Judum as illegal.

On 25th May 2013, Mahendra Karma was assassinated by naxalites in a Maoist attack while returning from

a Parivartan Rally meeting organized by his party in Sukma.


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National News

The Supreme Court has ruled that non ferrous metals giant Vedanta

cannot resume bauxite mining in Odishas Niyamgiri hills. Indias top

court has ruled that the decision to allow Vedanta Resources to mine

bauxite in two districts of the eastern state of Odisha rests with localtribes. The gram sabha, or village council, will look into the

environmental and religious issues and the rights of the local people

concerning the project. London-listed mining firm Vedanta, which is

owned by Indian businessman Anil Agarwal, plans to mine the Niyamgiri

hill range, home to deity Niyam Raja worshipped by the local tribe

Dongria Kondh. The Supreme Court has ruled that if the project affects

the tribes religious sentiments, then those rights need to be protected.

So far, Vedanta has spent $10 bn in Odisha to construct a power plant,

an alumina refinery and an aluminum smelter.

The Central government has ordered investigation against some 73 companies running ponzi schemes in West

Bengal for allegedly failing to pay back investors. The ministry of corporate affairs has received complaints against

87 companies out of which 73 are in Bengal.

Aruna Bahuguna, an Andhra IPS is the first women to be appointed as a CRPF

top rung. She is appointed Special Director General of CRPF, Indias largest

paramilitary force. She became the first woman officer to be appointed to the

top position. Her husband S. Jayaraman is also an IPS officer of the 1977 batch

of West Bengal cadre and is presently special secretary in the Union home

ministry handling internal security.

Justice Aftab Alam who was part of the Supreme Court bench which upheld the death sentence of Ajmal Kasab has

resigned. Justice Alam also headed the bench which delivered the recent verdict dismissing Swiss pharmaceuticalmajor Novartis AGs plea seeking a patent for its cancer drug Glivec and thus paving the way for Indian firms to

manufacture generic drugs which can be afforded by lakhs of cancer patients here. He headed the forest bench after

the retirement of ex-Chief Justice S H Kapadia, which delivered the verdict on the mining issues in Odisha and

Karnataka. 65-year-old Justice Alam was also the part of the bench which had ordered CBI probe into the fake

encounter killing of gangster Sohrabuddin Sheikh and subsequent elimination of his wife Kauser Bi by Gujarat

Police. The judge headed the bench which had ordered a CBI probe into the murder of Tulsiram Prajapati, a key

witness in the Sohrabuddin case. In both the cases former Gujarat Minister and BJP General Secretary Amit Shah is

an accused.

National Crime Records Bureau (NCRB) figures show that the sexual offence againstchildren has increased in the country in the last decade.The report says that a total of

48,338 child rapes were recorded between 2001-2011, and the nation saw an increase of

336% of such cases from 2113 (2001) to 7112 (2011).

The Union Home Ministry has decided to incentivize the chase for Maoists in Jharkhand, which witnessed the

maximum number of rebel attacks in the beginning of the year.The ministry notified that police personnel serving

in all the 18 Maoist-affected districts in Jharkhand would be eligible for Police Internal Security Medal, which was

earlier restricted to only three districts - Garhwa, Palamu and Chatra and not more than 10 cops had received the

medal.

Rail Ministers nephew was arrested for promising an officer a top job for Rs.10 cr bribe.According to the CBI, Vijay

Singla had demanded Rs 10 cr for making Mahesh Kumar a Member (Electrical) of the Railway Board. Rs 90 lakh was

the first instalment that was paid. The post is equivalent to that of a Secretary rank officer and is considered


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important for passing tenders for railway projects worth Rs 2,000 crore and above. Kumar was already promoted

as Member (Staff) of the board; the deal was that his next post would be Member (Electrical).

PM promises to accelerate reforms pace to make India more attractive for investors.We

are initiating measures to spur investment and to make India more attractive to investors,

both at home and abroad, Singh told the ADB (Asian Development Bank) annual meeting.Although the PM did not mention specific measures, he referred to the food security bill.

We also plan to provide our people a legal entitlement to food at affordable cost, he said.

K Siddaramaiah of Congress party becomes the 22nd Chief Minister of Karnataka.

Karnataka state Legislative Assembly election was held on 5 May 2013 for 223

out of 224 assembly constituencies. The Indian National Congress emerged as

the majority party winning 121 seats defeating the incumbent Bharatiya Janata

Party (BJP) which won only 40 seats. The Janata Dal (Secular) and Karnataka

Janata Paksha (KJP) won 40 seats and 6 seats respectively.

State finance ministers have turned down the Centres request to place mobile phones and tablets on the list of

declared goods under the proposed goods and service tax regime, saying the idea is untenable.

The centre will launch the direct benefit transfer (DBT) scheme for LPG customers in 20 districts from June 1.

Announcing the decision to launch the DBTL, Petroleum and Natural Gas Minister Veerappa Moily on Wednesday

said that 76 lakh customers in 20 districts would get Rs 435 in their bank accounts every time they book an LPG

refill. Though the scheme is being launched as a pilot scheme, Moily said that the government wanted to extend the

scheme to the entire country.

In New Delhi, CBI arrested its own officer heading the coal allocation probe for allegedly taking a bribe of Rs.7 lakh

from a businessman outside its headquarters here to settle a land dispute. CBIs internal vigilance apprehendedInspector Rajesh while receiving the bribe on behalf of SP Vivek Dutt, who was the Chief Investigator in the coal

blocks allocation scam case.

The government has appointed auditors for the RBI after consulting with the Controller and Auditor General (CAG),

reversing earlier practice of involving the central bank in the selection process.The two auditors appointed by the

government are V Sankar Aiyar & Co and Haribhakti & Co.

A severe shortage of ginger triggered by a steep decline in production has hit domestic and

exports market.India is the worlds largest producer of ginger accounting for over 30% of the

worlds output.

Three dairy farms in technical collaboration with the Netherland government will be set up by

the Union government with a focus of enhancing the yield and improving the production of value-added products.

Maoists ambushed a Congress convoy in chhattisgarh and killed 25 people, including

Salwa Judum founder MahendraKarma, state congress chief Nand Kumar Patel and his

son and critically injured former Union minister Vidya Charan Sukhla. The Chhattisgarh

government has named a panel to investigate Saturdays deadly attack. High court judge

Prashant Mishra would probe the attack and submit his report in three months.

Meanwhile, the central states top police and administration officials have been removed

after criticisms that security lapses led to the incident.


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The coal ministry has recommended Cabinet Committee on Economic Affairs (CCEA) to meet coal demands of78,000

MW of power projects partly through imports since Coal India will not be able to cater more than 65-75% of

supplies from its domestic production.

Former President A.P.J. Abdul Kalam was conferred with US based National Space SocietysWernher von Braun Memorial Award in San Diego on 24 thMay.

PM Manmohan Singh has presented the Padma Shri to Japanese Tamil scholar

Noburu Karashima for his outstandingcontribution in literature. The 80-year-old

Mr. Karashima could not be present for the Padma awards ceremony in New Delhi

on April 5, 2013 due to health reasons. Mr. Karashima, presently Professor

Emeritus at the University of Tokyo, had spent several years in India as a research

scholar on South Indian history and epigraphy at the University of Madras.

A PIL has been filed before a Madras High court bench seeking reinvestigation into the assassination of former PM

Rajiv Gandhi.

Tamil Nadu is the only state to achieve the target set under the Saakshar Bharat scheme

by educating over 17.25lakh adults. Over 6,304 coordinators in 3,152 centres were taking

classes on week days between 3 PM and 7 PM for these people. The Chief Minister had

encouraged more participation of women by introducing classes for soap making, tailoring,

candle making and artificial jewellery making.

India is the largest recipient of remittances in the world, receiving $ 69 billion in 2012, the World Bank has said.


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Internat ional News

International Monetary Fund (IMF) Chief Christine Lagarde was questioned by a French

Magistrate in May over an arbitration payment made to a wealthy supporter of former President

Nicolas Sarkozy. Lagarde has denied she did anything wrong when she ended a long-runningcourt battle between the state and Tapie by agreeing to arbitration to settle the dispute.

Islamist protesters clashed with opponents as they rallied to demand a purge of Egypts judiciary, a sign of rising

tension between the Islamist government and legal organs.

Bangladesh has signed the biggest ever joint venture agreement with India involving investment of $1.6 billion

for 1,320 MW coal fired power plant which is expected to be operational in five years.

Pakistan police took former President Pervez Musharraf into custody to face allegations that he

overstepped his powers while in office. An anti-terrorism court extended formerPakistan

President Pervez Musharrafs detention remanding him in judicial custody for two weeks and

then granted him bail in a case accusing him of illegally detaining judges after imposing

emergency in country in 2007.

US defence secretary Chuck Hagel has said a $10 billion arms deal under discussion with Arab and

Israeli allies sent a very clear signal to Tehran that military option remains on the table over

nuclear programme.

More than half of the men held at the Guantanamo camp have joined a hunger strike to protest their detention. The

US military counted 84 of the 166 prisoners as strikers and was forced feeding 16 of them liquid meals.

Israels senior military intelligence analyst has said that the Syrian government had repeatedly used chemical weapons

in the last month.

Former Egyptian finance minister Youssef Boutros Ghali was sentenced in absentia to life in

prison in a corruptioncase.

With over 6 million unemployed, Spains jobless rate shot up to a record 27.2 per cent in the first quarter of the year.

Syrian prime minister Wael-al-halki has survived a bomb attack on his convoy in Damascus.

At least 14 people were killed and scores injured as Islamists , demanding tougher blasphemy law , fought with the

police in Dhaka promoting a ban on rallies.


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The British Embassy is temporarily withdrawing some of its staff from Libya over concern about political uncertainty

and the risk of clashes between rival armed groups in Tripoli.

Bulgarian parties tried to cobble together a government after an election delivered a split parliament and left it in

political stalemate.

North Korea has replaced the hard line General Kim Kyok Sik who headed its armed forces

ministry, in a furtherreshuffling of the top brass by leader Kim Jongum.

Russia has sent advanced anti-ship cruise missiles to Syria , a move that illustrates the depth of its support for the

Syrian Government led by President Bashar al Assad.

An Indian police unit in Democratic Republic Of Congo has received the UN Peace Keeping Medal for its high level of

commitment towards fighting criminals and maintaining peace in African nations.

North Korea launched three short-range guided missiles into the sea off its east coast, the South Korean

defence ministry said.

French President Francois Hollande has signed into a bill allowing same-sex marriage making

France the 14thcountry to legalize gay weddings.

Thousands of people protested in Rome against austerity policies and high unemployment, urging the new Prime

Minister Erico Letta to focus on creating jobs to help pull the country out of recession.

Mountaineer Samina Baig has become the first Pakistani woman to scale the Mount Everest, the

worlds highest mountain peak at 8,848 meters. An 80-year-old Japanese man also became the

oldest person to climb to the top of the Mount Everest on 24thMay.

Irans electoral watch dog said it would bar physically feeble candidates from running from president, in an apparent

hint that it would disqualify 78-year-old former president Akbar Rafsanjani from the race.

Pakistan and China has agreed to consolidate their partnership and create joint economic corridor

to promote bilateral economic cooperation during Chinese Prime Ministers Li Keqiang visit to

Islamabad.

More than 70 people were killed in a wave of bombings in Shia markets across Baghdad in worsening

sectarian violence in Iraq.

Myanmar opposition leader Aung San Suukyi has condemned policing by a district government to

limit Muslims families to two children.


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Business News

Reliance Industries is in the process of raising close to a billion dollars from leading global financial institutions and

banks, including JP Morgan, Wells Fargo, Citi and Barclays, by using its shale gas reserves in the US as collateral.

Mukesh Ambanis Jio Infocomm has received a nod for using 10,000 mobile numbers it would

require to test its 4G services without any compensation to be paid the government. Out of

these, 4,000 numbers have been allotted for Delhi and Mumbai each, and the rest 2,000 in

Jamnagar in Gujarat.

The Supreme Court allowed Sesa Goa and eight other iron ore companies to

restart operations in Karnataka. Indias top court today allowed Sesa Goa

Ltd. (SESA) and eight other iron ore companies to restart operations in

Karnataka, 21 months after imposing a mining ban in the southern state for

environmental breaches.

Alto retained its top selling slot in the Indian market , though sales slipped 15% to 2.66 lakh year-on-year. Sales of

mid-level cars like Maruti Swift jumped 20%, Hyundai i20s 18%, Mahindra Boleros 17% in FY2013.

Cairn India plans to invest 5000 crore on its Rajasthan oil fields in three years to 2016 for an over arching

integrated block development plan even as it seeks extension of block contract beyond 2020. Cairn India has

posted a 17 per cent jump in profit.

Global sales of connecting devices like smart phones, tablets and PCs are expected to surpass 2.2 billion units and

touch revenues of $814.3 billion by 2017.

Power and automation technology firm ABB will acquire US based solar energy company power-one for over $1

billion.

After Nokia and Royal Dutch Shell, the income tax department has sent a demand notice to software giant Microsofts

Indian arm, which said it has challenged the same.

Jet Airways has announced a strategic alliance with Etihad Airways, saying it would sell 24% stake to the Abu Dhabi

based carrier for about 2,058 cr, marking the first investment by foreign carrier in an Indian Airline since the

changes in FDI policy.

The biggest borrowing bank from the US government emergency

programme is Bank of America with total loan amount 67 Billion.

Indias largest hospital chain Fortis Healthcare will raise $100 million (Rs 540 crores) from IFC

Washington, the private sector arm of the World Bank.

India in its first agreement to buy LNG from the US , Petronet LNG , Indias biggest liquid gas importer has signed an

initial pact with Houston based United LNG to buy 4 million tonnes of liquefied natural gas per annum for 20 years

beginning 2018.

The governments indirect tax collection for 2012-13 has exceeded the revised estimate by Rs.6000 cr. Indirect tax

collection as on April 22 stood at Rs 4.75 lakh cr. The revised indirect tax collection from Customs, central excise

and service tax was Rs 4.69 lakh crore. Finance Ministry official said combining (indirect and direct tax), we have

met the target.


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Swedish fashion retail giant Hennes & Mauritzz has sought the governments permission to

enter the single brand retail segment in India.

Meru cabs , the countrys largest radio taxi operators, will put 1,000 new sedan class cars on Delhi roads by this yearend to cope with increasing passenger demand in the national capital and its adjoining satellite towns.

The Asian Development Bank has said that it would lend $2 billion annually over the next three

years to India.

Salary burden of telecom firm BSNL in 2011-2012 rose to Rs. 13,406 cr , almost half of its revenue , with as much as

Rs. 5,000 crores being spent on one lakh employees who were in excess of the requirement.

Facebooks monthly active users rose 23% to 1.11 billion in January March 2013 compared to the

year ago period thanks to India and Brazil.

Cargo Traffic at 12 major ports in the nation declined by 2.58% at 545.68 million tonnes during 2012-13.

The government is looking to launch a 20 cr share sale by divesting 10% equity in Coal India which will single-handedly

meet half of this years disinvestment target and is expected to be completed by September 2013.

The government has approved a proposal to set up two ports in Bengal and Andhra Pradesh at an investment of

about 15,820 crore.

Corporate Raider Carl Icahm and other investors made a new offer for DELL, calling a plan private

equity buyout by company founder Michael Dell a giveaway.

Fertilizer Cooperative major IFFCO has linked along term agreement with a Brazilian mining company Vale SA for the

supply of rocket phosphate , used in manufacturing phosphatic soil nutrients.

Five merchant bankers , including ICICI Securities and IDFC are in the race to manage a 10% stake in Engineers India,

which could fetch the government about 625 crore at the current share price.

Ranbaxy to pay $500 million fine under the settlement agreement with the US department of justice.

The State Bank of India today urged the RBI to act as a uniform regulator for all key lending agencies, particularly the

housing finance companies whom the bank is competing for retail customers in the home loan segment.

Drug major Cipla has said shareholders of South Africa-based Cipla Medpro had approved

its around $512 milliontakeover offer.

The Essar Group, owned by brothers Shashi and Ravi Ruia, will sign deals with a leading

Chinese bank and its largest oil & gas producer and distributor , deepening the BPO-to-

steel conglomerates engagement with the worlds second largest economy.

KFC sales in China fell down by 29% in April as concerns about the safety of its chicken and the spread

of avian fluhad customers steering clear of KFC restaurants.


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The recent Reserve Bank of India derivative that banks can import gold on consignment basis for genuine

exports has opened a door for the entry of gold dore bars , which has less than 95% gold content.

Heidelberg Cement India decided to sell its .6 million tonnes per annum grinding facility in Raigad to JSW group for

an undisclosed sum.

The finance minister on Wednesday agreed to dole out a record Rs.1,00,000 cr towards and

LPG subsidy in 2012-13 but wants pricing formula to be changed from the current year.

Wockhardt has been banned from exporting products from its Aurangabad factory to the US after that the countrys

food & drug regulator issued an import alert , citing concerns over the quality of drugs manufactured at the

factory.

Ranbaxy agreed to pay a fine of $500 million for selling adulterated drugs in the US market. It is the largest financial

penalty paid by any generic drug maker in the US for violating the provisions of the Federal Food, Drug and CosmeticAct (FDCA).

Nestle India declared a change in its India management with its current chairman and managing

director AntonioHelio Waszyk to be replaced by Etienne Benet.

Japanese car giant Nissan will recall 22,188 units of its small car Micra and sedan Sunny in India

because of faulty breaking system , as a part of global exercise to rectify the problem.

England-based Chinese food chain YoYo Noodle plans to invest over Rs. 210 cr over the next five years to open as

many as 200 outlets in the country.

ICICI intends to ask the reserve bank of India to relax its 70 year age limit for bank

chairmen in order to giveKundapur Vaman Kamath the opportunity to stay on as the

chairman of the countrys second largest commercial bank until 2019.

US based auto component maker Johnson controls said that it had bought out its Indian partner Tata automotive

components from their joint venture for an undisclosed sum.

An inter-ministerial group has approved a 7.64 per cent government stake sale in National Fertilisers Limited, which

is expected to fetch over Rs 175 crore to exchequer.

Ireland is to become the first country in the European Union (EU) to ban all trademarks, logos, colours and graphics

on cigarette packaging by using plain packages said by the government.

Procter & Gamble (P&G) has announced that the former Chairman and CEO AG Lafley would

be coming out of retirement to replace current CEO Bob McDonald, who will retire at the end

of June, 2013.


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Sports/ Entertainment News

Olympic great Sir Chris Hoy announced his retirement from cycling. Hoy is eleven-time world

champion, six-time Olympic champion and a winner of a total of seven Olympic

Games medals, six gold and one silver. Hoy is the most successful Olympic cyclist of all time.

India has won four medals in the International Skating Union, held in Singapore. India won gold in Junior Boys 1000

m and Junior Boys 500 m, silver medal in Junior Girls 500 m and bronze in Junior Girls 100 m. The Indian Boys team

comprised Sohan Tarkar (Mumbai) and Prathik Prasad (Bengaluru) while Seeliya Simmith and Avani Kumar

(Mangalore) and Varsha Kukreja (Mumbai).

Sachin Tendulkars wax statue was unveiled at the Sydeny Cricket Ground (SCG), Australia.

Dimple Kapadia received the Padma Bhushan for late actor Rajesh Khanna.

Fdration Internationale de Football Association(FIFA) has imposed a worldwide ban

on 23 players and one official found guilty of match fixing. Of the players involved, 20 received a one-year ban from

all football-related activities while the remaining individuals received a two-year ban, three-year ban and lifetime

ban respectively, FIFA said in a statement.

Bahrains Sheikh Salman bin Ebrahim Al Khalifa was voted the new president of the Asian

Football Confederation.

Frank Lampard etched his name into the history books by deposing Bobby Tambling as Chelseas

record goalscorer with a match winning brace against Aston Villa. Frank Lampard is understood to have agreed to

a new one year deal to remain at Chelsea next season, ending speculation over the future of the clubs record goal

scorer, in a move that will also appease supporters.

India opened their medal account in the Junior Weightlifting Championships with Saikhom Mirabai Channubagging

three bronze in the womens 48 Kg category on the opening day of the competition in Lima, Peru on Sunday.

Saina Nehwal and PV Sindhu have retained their respective second and 13thspots in the

Badminton World Federation (BWF) rankings.


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The only Indian to win an individual gold in Olympics, shooter Abhinav Bindra, has been

recommended for theBharat Ratna.

The Indian woman cagers clenched their first Gold medal in the Fdration Internationale

de Basketball (FIBA) Asia 3x3 basketball tournament beating Mongolia in the final play offgame.

Seasoned paddler Sharath Kamal became the only Indian player to enter the second round of the world table tennis

Championship.

Englands best known footballer David Beckham announced his retirement on Thursday after a

career laden withtrophies and glamour that had a worldwide impact that went away beyond

Soccer. He played for Manchester United, Real Madrid, LA Galaxy and finally Paris St Germain.

India won a first -ever archery World Cup medal in the compound womens section when Trisha Deb, Gagan DeepKaur and Lily Chanu P beat their Italian opponents in the Bronze medal play off in Shanghai on Saturday. Deepika

Kumari had to settle for silver in both finals as Indian archers finished with three medals in the first stage world

Cup Archery tournament in Sanghai

Badminton Association of India president Akhilesh Das Gupta was elected to the Badminton World Federations

executive council by a record number of votes in the election at Kuala Lumpur.

On 16 May 2013, Rajasthan Royals players Sreesanth, Ankeet Chavan and Ajit Chandila were

arrested from Mumbais Trident Hotel by Delhi Police along with seven bookies on charges

of spot-fixing in the tournament. Police sources said the players have been accused of spot-

fixing in their matches on 9 and 15 May 2013 against Kings XI Punjab and Mumbai Indians

respectively. Later many bookies were arrested from various cities of the country. Film personality

Vindoo Dara Singh and Gurunath Meiyappan, the CSK owner were also arrested.

Mahesh Bhupathi and Rohan Bopanna ended runners-up at the Rome Masters.

Arunima Sinha, became the first woman in the world to conquer Mt Everest in prosthetic legs.

Robin Dutt was named as the new coach of German football club Werder Bremen after the German football

association agreed to release him from the post as their sporting director.

Inter Milan fired coach Andrea Stramaccioni, five days after concluding Serie A with highly disappointing ninth place

finish.

Manchester City striker Sergio Aguero has signed a one-year contract extension that will keep him

at the PremierLeague club until 2017.

Goalkeeper Iker Casillas and striker Fernando Torres returned to the Spain squad as coach Vicente

del Bosque named a provisional 26 man group for next months confederation.


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Test your current affairs quotient

Given below are 100 questions covering measure news / events of the month. Take the test and find out your level of

awareness.

1. Who is the Executive chairman of company Vedanta Resources?a. Anil Agarwal b. Anil Ambani c. Ashok Todi d. None of these

2. Niyamgiri hills are in which state of India?

a. MP b. UP c. Chattisgarh d. Orissa

3. Find the odd one out?

a. Hindustan Zinc Limited b. BALCO

c. Hindustan Copper Limited d. Sesa Goa

4. Dearness Allowance is paid to

a. Central government employees b. State government employees

c. Both a and b d. None of these

5. Who is recently appointed the special DG of CRPF?

a. Kiran Bedi b. Aruna Bahuguna c. Pranay Sahay d. None of these

6. Who was a part of the supreme court bench that upheld the death sentence of Ajmal Kasab?

a. Justice Aftab Alam b. Justice C K Prasad c. Justice Altamas Kabir d. Both (a) and (b)

7. The full form of NCRB is

a. National Corruption Records Bureau b. National Climate Records Bureau

c. National Crime Records Bureau d. National College Records Bureau

8. Who is the leader of opposition in Lok Sabha?a. Arun Jaitley b. Sushma Swaraj c. L K Advani d. Ravi Shankar Prasad

9. Maoist hief Prachanda hails from which country?

a. India b. Bhutan c. Nepal d. Myanmar

10. Ottavio Quattrochi can be associated with

a. Bofors scandal b. Coal gate scandal c. 2G scam d. None of these

11. Coca cola has recently signed a Memorandum of Understanding (MoU) with a state government to set up a bottling

plant and it has triggered protests. Which state is involved in that MoU?

a. UP b. HP c. Uttarakhand d. Punjab

12. Which state government recently banned the awarding of extensions or reemployment of former officials?a. J&K b. West Bengal c. Orissa d. Bihar

13. Who is the chairman of Jindal Steel Power Limited (JSPL)?

a. O P Jindal b. Naveen Jindal c. Sajjan Jindal d. None of these

14. Who recently translated all the plays of Shakespeare into Punjabi?

a. Surjit Hans b. MS Gill c. Amrita Pritam d. Buta Singh

15. Which state of India had its assembly elections in the last month?

a. Tripura b. Karnataka c. Punjab d. Gujarat

16. Who is the chairman of National Human Rights Commission (NHRC)?a. Justice K G Balakrishnan b. Justice G P Mathur

c. Justice B C Patel d. Satyabrata Paul


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17. Where are the head quarters of Asian Development Bank (ADB) located?

a. New Delhi b. Singapore c. Manila d. Bangkok

18. When was Asian Development Bank established?

a. 26thAug,1966 b. 15thMay, 1948 c. 20thJune, 1990 d. None of these

19. Who is the chairman of ADB?

a. Takehiko Nakao b. Haruhiko Kuroda c. Takeshi Watanabe d. Inoue Shiro

20. In India, which city is the largest municipal solid waste producer?

a. Delhi b. Bengaluru c. Chennai d. Hyderabad

21. Olympic great Chris Hoy participated in which sport?

a. Swimming b. cycling c. tennis d. wrestling

22. Who is the chairman of Pakistan Cricket Board (PCB)?

a. Imran Khan b. Zaka Ashraf c. Javed Miandad d. Nawaz Sharif

23. Which great cricketers wax statue was unveiled at Sydney Cricket Ground (SCG) recently?

a. Brian Lara b. Sachin Tendulkar c. Ricky Ponting d. Don Bradman

24. I-league is associated with which sport in India?

a. Cricket b. Football c. Hockey d. Chess

25. Asian Wrestling Championship 2013 was held in which country?

a. India b. China c. Japan d. Sri Lanka

26. The Government of India conferred which award to the Late Rajesh Khanna in 2013?

a. Padma Shri b. Padma Bhushan c. Padma Vibhushan d. Bharat Ratna

27. Amit Kumar and Bhim Singh can be associated with which sport?a. Boxing b. Wrestling c. Hockey d. Judo

28. Deepika Pallikal and Saurav Ghoshal can be associated with which sport?

a. Badminton b. Squash c. Tennis d. Table Tennis

29. Who is the owner of Mahi Racing Team India ?

a. MS Dhoni b. Mahi Gill c. Shahrukh Khan d. John Abraham

30. The new president of Asian Football Confederation is from which country?

a. Iran b. South Korea c. Bahrain d. Japan

31. Steven Gerrard can be associated with which sport?a. Cricket b. Football c. Tennis d. Golf

32. What is the current world ranking of Saina Nehwal?

a.1st b. 2nd c. 3rd d. 4th

33. Who is the chairman of Indian Premier League T-20 cricket tournament?

a. Rajeev Shukla b. N Srinivasan c. Jagmohan Dalmiya d. Ravi Shastri

34. Who won the recently concluded under 17 National Chess Championship?

a. Koneru Humpy b. Nisha Mohota c. Sayantan Das d. SS Ganguly

35. Which car is the top selling car in India in 2012-13?

a. Alto b. Swift c. Wagon R d. i10


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36. ITC headquarters are located in which city of India?

a. Kolkata b. Mumbai c. Bengaluru d. Chennai

37. Who is the promoter of Spicejet Airlines?

a. Kalanithi Maran b. Vijay Mallya c. Capt. Gopinath d. Richard Branson

38. Who is the chairman of Tata Sons?

a. Ratan Tata b. Cyrus Mistry c. S Ramadorai d. None of these

39. Power and automation Technology firm ABB headquarters are in

a. USA b. Switzerland c. France d. Denmark

40. The biggest borrowing bank from the US governments emergency programme is

a. Bank of America b. Citibank c. JP Morgan d. Meridian Bank

41. Recently which industrialist was in news for being provided Z category security?

a. Anil Ambani b. Mukesh Ambani c. Vijay Mallya d. YC Deveswar

42. Who is the chairman of HDFC bank?

a. Deepak Parekh b. Shikha Sharma c. Naina lal Kidwai d. None of them

43. Where is the headquarter of Fortis healthcare?

a. Delhi b. Mumbai c. Bengaluru d. Chennai

44. Fortis Hospital is not present in which of the following cities?

a. Delhi b. Mumbai c. Pune d. Kolkata

45. Which of the following is the Indias largest private hospital chain?

a. Fortis b. Apollo c. Vasan d. Bellevue

46. Where are the headquarters of National Aluminium Company Limited (NALCO) located?a. Nagpur b. Bhubaneswar c. Hyderabad d. New Delhi

47. Fashion retail giant Hennes & Mauritz AB (H&M) belong to which country?

a. Netherland b. England c. Sweden d. France

48. Which of the following is not a Maharatna company?

a. ONGC b. IOC c. BPCL d. CIL

49. Which of the following is an eligibility criterion for a Maharatna company?

a. An average annual turnover of more than Rs. 20,000 crore

b. An average annual net worth of more than Rs. 10,000crore during the last 3 years.

c. An average annual net profit after tax of more than Rs. 2500 crore during the last 3 years.d. All of the above

50. Which is the largest mobile phone operator of India?

a. Vodafone b. Airtel c. BSNL d. Idea

51. Which is the largest radio taxi operator in India?

a. Meru Cabs b. Gold Cabs c. Easy Cabs d. Star taxi

52. Which of the following is an Aditya Birla Group company?

a. Hindalco b. Ultratech cement c. Peter England d. All of them

53. Who is the chairman of Aditya Birla Group?

a. GD Birla b. Aditya Birla c. Kumarmangalam Birla d. None of them


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54. Bandra-Worli Sea Link project was undertaken by

a. HCC b. L&T c. NCC d. None of them

55. The headquarters of Vijaya Bank is in

a. Bengaluru b. Mangalore c. Hyderabad d. Chennai

56. It is the only Indian bank other than State Bank of India to feature in the List of Fortune 500 Companies in the World.

Which Bank is it?

a. Indian Bank b. ICICI c. AXIS d. OBC

57. The frequent flier program of kingfisher Airlines is known as

a. Kingfisher Club b. King Club c. Royal Club d. None of these

58. Who is the chairman of State Bank of India?

a. OP Bhatt b. Pratip Chaudhuri c. Deepak Parekh d. Chanda Kochhar

59. State Bank of India operates as INMB in which of the following countries?

a. Nigeria b. Bahamas c. USA d. China

60. Which of the following is a subsidiary of Tata Consultancy Services?

a. NIIT Limited b. APTECH c. CMC Limited d. None of them

61. Which automobile company has recently launched a new multipurpose vehicle ENJOY in India?

a. General Motors b. Volkswagon c. Maruti d. Tata Motors

62. Who is the Managing Director of IMF?

a. Christine Lagarde b. Horst Kohler

c. Dominique Strauss Kahn d. Rodrigo Rato

63. Where are the headquarters of International Monetary Fund?

a. Washington b. New York c. Paris d. London

64. International Monetary Fund has got how many members?

a. 150 b. 175 c. 188 d. 195

65. Who is the President of Italy?

a. Giorgio Napolitano b. Enrico Letta c. Boutros Ghali d. Sylvio Berlusconi

66. Who is the President of France?

a. Nikolas Sarkozy b. Francois Hollande c. Christine Lagarde d. None of them

67. What is the capital of Democratic Republic of Congo?

a. Kinshasa b. Bengazi c. Congo city d. Laos

68. What is the currency of South Africa?

a. Peso b. Rand c. Dollar d. Franc

69. What is Mahasen?

a. Comic character b. Cyclone c. Wave d. None of these

70. S4 is the new brand of mobile of which company?

a. Nokia b. Samsung c. Motorola d. LG

71. Canvas Doodle is the new brand of mobile phone of which company?

a. Nokia b. Karbonn c. Micromax d. Gaba

72. Suzlon Energy produces/manufactures which of the following?


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a. Wind Turbine b. Medicines c. Hydel power plant d. None of these

73. Tehrik-e-Insaf is a political party belonging to which country?

a. Iran b. Pakistan c. Iraq d. India

74. Where is the capital of Sweden located?

a. Stockholm b. Oslo c. Geneva d. None of these

75. Who is the chairman of P&G?

a. Bob McDonald b. A G Lafley c. Larry Ellison d. None of them

76. Aung San Suukyi is from which country?

a. Myanmar b. Singapore c. Thailand d. Mauritius

77. Heathrow airport is in which city?

a. New York b. London c. Canberra d. Wellington

78. The Essar Group is owned by who among the following?

a. Gupta brothers b. Ruia brothers c. Goenka brothers d. Mishra brothers

79. What is the full form of FII?

a. Foreign Institutional Investor b. Finance Institute of India

c. Flexible Interim Investment d. None of these

80. In which city are the headquarters of KFC located?

a. Louisville b. New Jersey c. New York d. Los Angeles

81. Who is the chairman of Reliance Infrastructure?

a. Anil Ambani b. Aakash Ambani c. Mukesh Ambani d. None of them

82. Where is the National Commodity and Derivatives Exchange (NCDEX) located?

a. Mumbai b. Bengaluru c. Chennai d. Hyderabad

83. Who is the present chairman of APPLE?

a. Steve Jobs b. Warren Buffet c. Arthur Levinson d. None of them

84. Who is the chairman of Zee Entertainment?

a. Subhas Chandra b. Prannoy Roy c. Rajdeep Sardesai d. Prabhu Chawla

85. In which news channel do we find the programme NEWSHOUR?

a. Times Now b. NDTV c. Headlines Today d. BBC

86. Air Asias head office is in which city?

a. Kualalampur b. Jakarta c. Bangkok d. Islamabad

87. Sumantra Choudhury is the Managing Director of which company?

a. HPCL b. BPCL c. HPL d. None of these

88. Which of the following is a brand of Toyota Motor Corporation?

a. Etios b. Ertiga c. Linea d. Santro

89. Which team has won the Pepsi IPL 2013?

a. Chennai Super Kings b . Mumbai Indians c. Rajasthan Royals d. Sunrisers Hyderabad

90. Denson Devdas, Sunil Chhetri and Syed Rahim Nabi play which game?

a. Cricket b. Football c. Tennis d. None of these

91. Slam Dunk is associated with which sport?

a. Tennis b. Chess c. Volleyball d. Basketball


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92. The Asian Athletics Championships will be held in which city of India?

a. Kolkata b. Delhi c. Mumbai d. Pune

93. Who directed the film Raincoat?

a. Mrinal Sen b. Ayan Mukherjee c. Rituparno Ghosh d. Satyajit Ray

94. William S Pinckney is the CEO of which company?

a. Amway India b. Gillette c. P&G d. HLL

95. The largest textile hub of the country is in which state of India?

a. West Bengal b. Tamil Nadu c. Maharashtra d. Punjab

96. Who scored the maximum runs in an innings in the IPL 2013?

a. Chris Gayle b. Virat Kohli c. Shane Watson d. Dinesh Kartik

97. Which team won the Union of European Football Associations (UEFA) Champions League 2013?

a. Borussia Dortmund b. Bayern Munich c. Real Madrid d. Barcelona

98. Bombay Stock Exchanges (BSE) Index SENSEX is a list of how many companies?

a. 30 b. 50 c. 75 d. 100

99. How many members are there in Rajya Sabha?

a. 245 b. 233 c. 12 d. None of these

100. Who is the chairman of Planning Commission of India?

a. President b. Prime Minister c. Finance Minister d. Lok Sabha Speaker

Your current affair quotient

0 20 Hopeless

21 40 Poor

41 60 Average

61 80 Very Good

81 100 Excellent

Answers given at the end of the magazine


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Maths Funda

Dear Mat hs,

Im sick and t ired of f inding your xshes gonemove on, dude!

Welcome to the world of mathematics. It does not matter in what profession you are; perhaps all human beings use

maths in their lives in some form or the other.

I choose to talk on calculations technique, considering it to be the oldest and most elementary part of mathematics.

Well, it involves basic operations (addition, subtraction, multiplication, division) on quantities.

It is not only about your exams like CAT, XAT, IIFT etc., it is about your entire life, be it personal or professional.

Every time you calculate the Interest that you would earn on a Fixed Deposit that youve invested in; or how

much Taxyou have to pay during a particular financial year; or handling payroll of employees under you; deciding

on how much of the total marketing budget you would spend on Newspaper Ads in 5 states where you have

launched a New Brand; what is the best way to adopt Cost Controlin your Factoryand what not

We open newspaper and find out so many instances where decisions taken by Managers make or break fortune of

a company. Most effective tools for a Manager to take decisions are (i) data and (ii) experience.

You all know how important is SPEED as a skill to crack CAT successfully. But let us face the truth now. SPEED does

not come from being able to handle loads of calculations; rather it is about identifying the most effective method

to reduce the load of calculation.

Let us begin with an example:

While working in an organization as a product manager, you find that your product is manufactured at the cost

of Rs 375and moreover, you are given to understand it makes a thin margin of 4.96%. When you share this information

with your junior in a meeting, he asks you Sir, for every 100 units, how much do we make?

Well, embarrassing for a boss to keep quiet, right?

Dont worry, I know youll prove to be a smart boss, because, you know A% of B& B% of Aare same thing. So youll

mentally do a calculation as follows:

4.96% of 375 * 100 = 375% of 4.96 * 100 = 37.5% of 496 * 1/10 * 100 = 3/8 * 496 * 10 = Rs 1860.

Trust me, youll earn respect from each of your juniors even if they are not sure how could think so fast!

I remember those childhood days, when my mom used to force me to go to the grocery shop to get a few stuffs forhomethanks to her, it taught me lot of thingsmost important learning wasthe grocery guy knows much better

maths, how else can he calculate so fast?

Yeah of course, the answer is, PRACTICE. Theres hardly any role of memory here. It has become his habit to add

numbers like.34, 43, 56, 48, 39perhaps he would quickly add the 10s digits (19) and units digit separately (30),

and then add the 10s digit of 30 with 19, and find out the sum as 220.

Some of you, who likes experimenting can also find out 43 is the middle-most number (as in, we have two numbers

greater than and two numbers less than 43), hence I quickly multiply 43 by 5, since there are 5 numbers (215) and

then look at the difference with the respective numbers 34 (-9), 43 (0), 56 (+13), 48 (+5) & 39 (-4); clearly net

difference is +5. Thus my answer would be 215 + 5 = 220.

People who are comfortable with calculations always get a step ahead in every sphere of life. Lets say, yourehandling a product that eats up 20% of the market as of now. Now your boss wants you to grow the market share by


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another 5 percentage points and tells you that the estimated growth of the industry is 20%. When you discuss the

same with your juniors, again an innocent question turns up Sir, by what percentage do we have to grow?

I re-confirm the fact that youre going to be a smart boss! Because, you would think about the calculation as follows:

You would learn if market was at 100, it becomes 120. Since market was at 100, your product was at 20. Now, your

new market share = 25% of 120, i.e. 30. Thus 20 to 30 implies 50% growth. But in the office, we do not get time for this

much of academic calculation.

So, finally the question is Whats the smartest trick for this calculation?

Market grows by 20%. Market share grows by 5 percentage point; thus, percentage increase in the numerical value

of the percentage market share = 5/20 * 100%, i.e. 25%.

So, well simply say, growth of my product would be 0.2 + 0.25 + 0.2*0.25 = 0.5 50% [remember the standard thumb

rules for successive percentage changes].

Now, let me take you to the world of fantasyYou land up in the Wonderland and find 145 persons therewho have

a habit of confusing others with their statementsone of them tells you Since last six years, each year 1/3rdof the

people has been dying and 27 new babies were born. Let me give you some numbers610, 710, 820can anyone of

these numbers be the population of the Wonderland six years back?

Leaves you utterly confused, right?

Lets apply a simple and precise logicpopulation reduced by 1/3rdimplies it had been a multiple of 3oh yeas, now

you got the hint, none of the numbers given are multiple of 3 (by adding the digits of the numbers)hence, youll

reply him bluntly None of these[dont worry, in CAT or XAT or IIFT exams, you would see this (None of these) as

an option in this sum.

In our daily life, we look at objects, most of which run on some principles or ruleswhich are established through

some fundamental mathematical calculationsbe it LEDthat helps you enjoyIPLat home, Washing Machinethat

helps your mom to reduce her workload, Smart mobile phonethat helps you keep in touch with all your friendsand

the list goes on

If you think managers are only making strategies seating in front of a computer in an AC room, then youre absolutely

mistaken! Strategy evolves through lots of analysis, be it numerical or qualitative; Survey, Statistical analysis,Demographics, Database management, Trend analysis, Identifying patterns etc involve numerical investigation.

After all, we have not invented calculators to prove that were worse than those, right?

My objective is to help you build up rapport with this friend called calculation

I can promise this friendship will carry through your entire life with style and glamour.

Eco Basics Demand and Supply

Teach a parrot the terms supply and demand and you ve got an economist.

Thomas Carlyle

Two words that drive any economy are Demand and Supply. In every day to day activities we always see various

relations between these two words. Demand refers to quantity of product or services desired by the buyers. The

quantity demanded is the amount that the buyers are ready to buy at a certain price and this relationship between

demand and price is also known as demand relationship. Supply on the other hand is the quantity that the market

is ready to provide. It also means the quantity that a certain good producer is willing to supply at a certain price.

The relation between the price and the quantity of goods supplied is known as supply relationship. In the market

economy theories, the relationships between supply and demand helps to allocate the resources in the most

efficient way.

Supply always comes on the heels of demand. Robert Collier

The Law of Demand states that if all the other factors remain same, as the price of any goods or services go up, less

people will demand for that product. In other words, the higher the price, the lower the demand. As the prices go up,

people will naturally avoid buying that product as that will force them to forgo something else that they value more.


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For example, recently it came in the news that due to the increase in price of petrol the demand of petrol cars are

going down and people are preferring diesel cars instead of petrol cars.

The diagram below shows the relationship between price and demand,

We can see in the diagram, quantity is plotted in the vertical axis and price is in the horizontal axis. As the price

increases from left to right the demand falls from top to bottom. This diagram states that the lesser the price the

more will be the demand of that good.

The Law of Supply demonstrates the quantities that are sold at a certain price. Unlike the Law of Demand, this one

is an upward sloping graph. Producers supply more at a higher price as then they can maximize their revenue. The

diagram below represents the relationship of supply and price.

We have represented the quantity in the vertical axis and price in the horizontal axis and clearly we see that the

supply tends to increase as the price increases.

Looking at the above two relationships we can conclude that with the increase of price the supply increase but the

demand decreases. Let us take an example of the mobile phones. The manufacturers will want to sell mobile phones

at a higher price but the number of buyers ready to pay the high price is less. So there is a chance that most of the

mobile phone might go unsold. That is one of the reasons why we find the prices of the mobile phone going down

every day as the producers are looking for the correct price which will give them more sellers as well as it will help

the to increase their revenue. We will call this the state of Equilibrium.

Let us club the above two diagrams and see what happens,


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Initially when the price is less the producers are unwilling to produce but the demand for that article is very high.

As the price increases the producers start producing more but the demand gradually keeps on decreasing. Then we

reach point A, the intersection of both the Demand and the Supply. At this point whatever quantity is produced get

sold as there are optimum number of buyers for that product and the buyers are also happy with the price. After

point A, if the price still keeps on increasing then the buyers refuse to buy that product and a lot of them remains

unsold which is a loss for the producer. Thus we can see that the point A can be said to be the point of Equilibrium.

Any point to the left of point A is a situation of excessive demand and any point to the right of A is a situation of

excessive supply.

Still there as a question that arises that in the market how do we reach equilibrium?

When the price is less and the demand is very high then people gradually start paying extra money to get the good

and its price increases till it reaches the equilibrium. Similarly when at a higher price the supply is very high but the

demand is less then the producer to increase the sales gradually reduces the price of the goods till it reaches the

equilibrium price. Thus the situation of excessive demand or supply cannot go on forever as the market forces will

bring it to the state of equilibrium.


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Telecom Industry in India

The Indian telecommunications industry is one of the fastest growing in the world in terms of number of wireless

connections after China. According to the world telecommunications industry, India will have approximately 1.2

billion mobile subscribers by 2013. Furthermore, projections by several leading global consultancies indicate that

the total number of subscribers in India will exceed the total subscriber count in the China by 2013.

In 1850, experimental electric telegraph started for first time in India between Calcutta (Kolkata) and Diamond

Harbor (southern suburbs of Kolkata, on the banks of the Hooghly River). On the 28th of January 1882, the first

formal telephone service was established with a total of 93 subscribers. From the year 1902, India drastically

changes from cable telegraph to wireless telegraph, radio telegraph, radio telephone, trunk dialing. During British

period all major cities and towns in India were linked with telephones. In the year 1975, Department of Telecom(DoT) was responsible for telecom services in entire country after separation from Indian Post & Telecommunication.

In 1990s the telecom sector was opened up by the Government for private investment. In 1995 TRAI (Telecom

Regulatory Authority of India) was setup. This reduced the interference of Government in deciding tariffs and policy

making. The Government of India corporatized the operations wing of DoT in 2000 and renamed Department of

Telecom as Bharat Sanchar Nigam Limited (BSNL). Government policies and regulatory framework implemented by

Telecom Regulatory Authority of India (TRAI) have provided conducive environment for service providers. This has

made the sector more competitive, while enhancing the accessibility of telecommunication services at affordable

tariffs to the consumers.

In the last two decades, the Indian Telecom Sector and mobile telephony in particular has caught the imagination of

India by revolutionizing the way we communicate, share information; and through its staggering growth helped

millions stay connected. This growth, however, has and continues to be at the cost of the Climate, powered by anunsustainable and inefficient model of energy generation and usage. Simultaneously, this growth has also come at

significant and growing loss to the state exchequer, raising fundamental questions on the future business and

operation model of the Telecom sector.

The telecom industry has witnessed significant growth in subscriber base over the last decade, with increasing

network coverage and a competition-induced decline in tariffs acting as catalysts for the growth in subscriber base.

The growth story and the potential have also served to attract newer players in the industry, with the result that the

intensity of competition has kept increasing. The sector expected to witness up to US$ 56.3 bill ion investments and

the market will cross the US$ 101 billion mark in five years.

Today, the Indian telecom network is the second largest in the world after China. A liberal policy regime and

involvement of the private sector have played an important role in transforming this sector. The total number oftelephones has increased from 429.73 million on 31 March 2009 to 926.55 million on 31 December 2011.

Liberalization of the sector has not only led to rapid growth but also helped a great deal towards maximization of

consumer benefits, evident from a huge fall in tariffs. Telecom sector has witnessed a continuous rising trend in the

total number of telephone subscribers and hence the teledensity. In simple terms, Teledensity is the number of

landline telephones in use for every 100 individuals living within an area. A teledensity greater than 100 means

there are more telephones than people. In 2012, the overall tele density in the country increased to 78.66 from

70.89. The rural tele density increased to 39.22 from 33.79. The urban tele density increased to 169.55 from 157.32.

According to the United Nation Conference on Trade and Development (UNCTAD), there is a direct correlation

between the growth in mobile teledensity and the growth in GDP per capita in developing countries, which tend to

have a high percentage of rural population. The share of the telecom services industry in the total GDP has been

rising over the past few years (the telecom sector contribution in GDP went up from 2.52% in FY05 to 2.83% in FY07).


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The Indian Telecom market is the most competitive with over 11 operators in each circle. Nowhere in the world does

any country have so many carriers. The dominant players are Airtel, Reliance, Vodafone, BSNL (state owned), Idea

and Tata. Reliance and Tata offer CDMA technology while all the other players are in the GSM space. GSM has 88%

share of subscribers and now even Reliance and Tata have launched nationwide GSM services.

Apart from the current players, there are several new players like Aircel, Unitech-Telenor, Shyam-Siestema, Etisalat

that have got the license and spectrum to launch mobile services in several telecom circles. Shyam-Siestema is the

only player to launch CDMA services while all the new operators are in the lucrative GSM space. The adjoining

figure gives the market shares of the operators in India. It is a fragmented market with the biggest operator (Airtel)

having only 20% share.

Since past few years, the telecom service providers have been plagued with various withholding taxes issues on

aspects such as inter-connect usage charges, roaming charges, distributorship margin under a Principal to Principal

arrangement, use of passive infrastructure, etc. Absence of clarity on the withholding tax obligations for such

transactions has resulted in significant tax litigation. Considering that Indian telecom is a highly capital intensive

sector, extending the tax holiday benefits in 3G and the broadband internet sector would also go a long way in

bringing down the costs of investments in rural areas and promote the growth of the industry. On the indirect tax

front, All operators and support sectors are facing huge amounts of blocked credits and lengthy litigations with the

revenue authorities on account of disputed credits on passive infrastructure. With the mandate and need to modernize

and expand the present infrastructure consequent to allocation of 3G licenses, the problem is going to get worse. Its

high time that all cascading effects are identified, appreciated and addressed by the Government.


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Bhart i Airt el

Sunil Mittal founded the Bharti Group. In 1986, Mittal incorporated Bharti Telecom Limited (BTL), and his company

became the first in India to offer push-button telephones, establishing the basis of Bharti Enterprises. In 2003, thecellular phone operations were re-branded under the single Airtel brand. Bharti Airtel is Indias leading

telecommunications company and the largest telecom operators in the world with over 210 million subscribers. As

well as providing mobile services across 19 countries in South Asia and Africa, it offers landline telephone services

and broadband internet access in nearly 100 Indian cities and also has a satellite TV business. Launched in Delhi

and Himachal Pradesh in 1995 Bharti Airtel has expanded at a breathless pace in the 16 years of its existence and

analysts see that it has displayed remarkable capacity to scale up year on year and to execute its plans with high

energy.

The telecom operator has earmarked a capital expenditure of $3.1 bill ion (over Rs 14,000 crore) for India and other

global operations in the current fiscal, and is betting big on non-voice offerings For the first few years, Bharti Airtel

followed a very similar growth strategy to other mobile operators around the world buying licenses, building

networks, growing support activities such as customer care, billing and network operation, building its brand,offering competitive tariffs and the latest phones, and so steadily gaining more customers. This served the company

well, but did not significantly differentiate it in the market or give it any major competitive advantage over its peers.

Facing the challenge of how to deliver telecoms at affordable (very low) prices to Indian customers in an industry

that requires high capital investment, the breakthrough came at the end of 2009, when the management team

recognized that to sell at the lowest prices in the world requires the lowest costs in the world. To achieve this

required a new business model under which Bharti took the hitherto unprecedented step in the telecoms services

industry of just focusing on the things it does best customer, brand and people management and leaving

everything else to people who can do it better.

By outsourcing the majority of its activities networks, IT, call centres, towers, distribution to global specialist

firms in long-term partnership arrangements Bharti are now able to operate a low-cost business model that

supports the companys belief that it can bring the benefits of mobile telephony to millions and millions of lower

middle class and poor consumers around the world. And this focus on doing what it does best has allowed Bharti

Airtels entrepreneurial culture and customer-centricity to combine to create an organizational culture that is

consistently opportunity minded.


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The countrys largest cellular operator, Bharti Airtel, is gearing up to consolidate its India share and expand global

footprint. The company, which reported a 32% fall in its April-June net profit in 2011, rolled out 4G services by year

end.

April 10, 2012 was an historic day for Bharti Airtel, Indias number one telecom service provider, and the country.

India experienced its first 4G service. Airtels journey - from 2G in 1995 to 3G in 2010 and 4G in 2012 - was eventful.

Telecom Lead is sharing some of the major milestones in the life of Sunil Mittal, the iconic chairman of Airtel and the

Indian telecom industry. We have gone ahead in telecom industry. By launching 2G, 3G and 4G, Airtel has contributedsignificantly to Indian telecom industry. Having honed its business model in India, over the past couple of years

Bharti Airtel has been on a spending spree - adding operations in what it sees as other high-growth markets and its

ambition is high as demonstrated by its belief that By 2015, Airtel will be the most loved brand in the daily lives of

the African people. It is time for the government to recognize telecom industrys efforts. Do not kill the golden

industry. It deserves better treatment.

The Telecom Regulatory Authori ty of India (TRAI)

In 1990s the entry of private service providers brought with it the inevitable need for independent regulation in the

telecom sector of India.

The Telecom Regulatory Authority of India (TRAI) was, thus, established with effect from 20th February 1997 by an

Act of Parliament, called the Telecom Regulatory Authority of India Act, 1997, to regulate telecom services, including

fixation/revision of tariffs for telecom services which were earlier vested in the Central Government. TRAI is a

statutory body and is wholly funded by grant received from the Consolidated Fund of India.

The Government, through notification dated 9th January, 2004, has brought the broadcasting and cable television

services within the ambit of telecommunication services in the country. In 2004, TRAI was thus vested with the

powers to regulate broadcasting & cable TV services also in the country. The Government continues to be the

administrator for the policy and licensing function.

As per the Telecom Regulatory Authority of India Act, 1997 [as amended by TRAI (Amendment) Act, 2000], the

Authority shall consist of a Chairperson and not more than two whole-time Members and not more than two part-time Members. The Chairperson and other members of the Authority shall hold office for a term not exceeding three

years. The authority functions with a Secretariat headed by a Secretary and assisted by various divisional heads. A


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staff of 160 (as on 31.03.2007) is handling the work in the Secretariat, which performs the tasks assigned to it by the

Authority in the discharge of its functions. Wherever necessary, consultants are engaged.

The mission of Telecom Regulatory Authority of India (TRAI) is to ensure that the interests of consumers are protected

and at the same time to nurture conditions for growth of telecommunications, broadcasting and cable services in

a manner and at a pace which will enable India to play a leading role in the emerging global information society.

The goals and objectives are focused toward:

1) Transparency in decision-making by affording an opportunity to all stakeholders.

2) Providing consumer with adequate choice, affordable tariffs and high quality of service.

3) Promoting level playing field and fair competition among service providers.

4) Access to world class quality telecommunications, broadcasting and cable services.

5) Ensuring technical compatibility and effective interconnection between service providers.

In the first 10 years (1997-2007), the major achievements of TRAI include,

(a) The reduction in call charges in both outgoing and incoming calls. In 1997 the incoming calls were also charged

at Rs 16.80 per minute which in the year 2007 became free.

Per Minute Call Charges (in INR)#

1997 2002 2007

Local 16.8 3.09 1

STD 30 9.8 2.4

ISD 75 40.8 6.4

(b) Telecom sector had shown exponential growth, tele-density, which grew only by 1.92% in 50 years (1948-98),

increased by 18% in just 10 years of TRAIs existence.

(c) Subscriber base in the country was growing by 6 million every month.

(d) Internet Connection as on 31st March 2007 was 40.57 million as compared to Broadband Policy, 2004 target of

18 million subscribers by end of 2007 and 40 million by the year ending 2010.

(e) India had the fourth largest telecom network after China, USA and Russia with lowest tariff.

(f) The Indian Telecom Service industry contributed 2.71% to the total GDP. Total telecom revenue in year 2005-06

was 867 billions Indian Rupees (INR).

(g) Regulatory framework issued to cover nearly 300 million cable TV viewers.

In its annual report of 2011-12 , TRAI provides an account of its achievements as:

(A) The Telecom sector continued to register an impressive growth during the year. The number of telephone

subscriptions increased from 846.32 million to 951.34 million, registering a growth of 12.41 %. The wireless

subscriber base increased by 107.58 million and the wireline subscriber base recorded a decline of 2.56 million.The wireless segment continued to dominate with a total base of 919.17 million connections.

(B) The growth in subscriber base resulted in an increase in the gross revenue of telecom services from Rs.1,71,719

crore to Rs.1,95,442 crore during the year, a growth of 13.82%.

(C) During the year, the number of Internet subscribers increased to 22.86 million from 19.67 million registering an

annual growth of about 3.19 million. The number of Broadband connections increased from 11.89 million to 13.81

million.

(D) Several significant policy recommendations were made by TRAI during the year which include recommendations

on spectrum management, licensing, Telecom Infrastructure, Green telecommunications and Telecom equipment

manufacturing.


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(E) TRAI also notified several regulations relating to consumer protection, complaint redressal and for controlling

unsolicited commercial communications.

(F) On Merger & Acquisition issues TRAI recommended that spectrum holding by the Resultant entity (after M&A)

would be limited to 25% of the spectrum assigned in a service area

(G) India is the second largest mobile market in the world. There are currently about 400,000 telecom towers in thecountry, involving significant diesel consumption. To ensure reduction in carbon footprint, the Authority in its

recommendations on Approach towards Green telecommunications provided that 50% of all rural towers and

20% of the urban towers should be powered by hybrid power by 2015 and that all service providers should aim at

reduction of carbon emission by at least 8% of the base year (2011) emissions by 2015.

(H) TRAI initiated a process of preparing for consultation and eventual establishment of appropriate policy and

regulatory framework for Next Generation Network (NGN).

(I) A major initiative of the Authority in the year 2011-12 was the work relating to control of unsolicited commercial

communications, popularly known as pesky calls / SMS. The Telecom Commercial Communications Customer

Preference Regulations were implemented w.e.f. 27th September 2011. This has resulted in significant reduction in

unwanted commercial calls/ SMS.


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Your gateway to an exciting and rewarding career

Law as a profession has undergone a massive change in the last decade. Gone are the days when lawyers will

remind you of black robes and courtrooms. Now lawyers work in swanky corporate offices and work for corporates

as varied as media, insurance, Banks, FMCG, etc or become a Partner/Associate in a law firm.

So if you have good communication skills, both oral and written, are fond of reading, can convince others easily,

have a logical way of thinking so that you are able to look at matters objectively and come to your own conclusions,

then this is the career for you. And if you are smart, suave, presentable and ready to voice your opinion, then THIS

IS the career for you.

You can do an under-graduate programme (LL.B) or an Integrated post graduate programme (LL.M) after passing

class 12th.

Careers in Law

Litigation:The only option for Lawyers, earlier is now one of the choices. Areas are numerous like criminal, civil,

constitutional, intellectual property, etc.

Law Firms:You can joining a top Indian law firms as an Associate and work your way up to become a partner or

have your own Law firm.

Corporate counsel:Lot of lawyers today are opting for joining companies and being on their in-house staff. Work

involves greater interaction with non-legal aspects of business like sales, marketing and finance.

Judiciary:There are two routes to become a member of the Indian Judiciary one is to be elevated to the Judges

bench by sheer performance and the other route is through the Indian Judicial Services.Business Management:Law teaches you a number of skills that are applicable across domains and armed with

your legal expertise, you can quickly rise to senior positions in the corporate world.

Legal Process Outsourcing:Law firms abroad pass portions of their work to India, which has high number of

English speaking lawyers.

Placements:

Students passing out from the National Law Schools/Universities get average placements of around 10-12 lacs per

annum with the highest salary often being in the range of 25-30 lacs per annum.

Some big names hiring from B-Schools are:

Management consultancieslike McKinsey & Co., KPMG, Price Waterhouse Coopers, McKinsey, E&Y, Deloitte, H5

Asia Pacific, Goldman Sachs, Morgan Stanley, etc International Law Firmsincluding Linklaters (UK), Clifford Chance (UK), Herbert Smith (UK), Simmons & Simmons

(UK), Allen & Overy (UK) & (Singapore), SJ Berwin (UK), Boehmart & Boehmart (Germany), Eisenfuhr Speiser (Germany),

Mayor, Brown & Rowe (France), Penderson & Houpt (USA), Rajah & Tann (Singapore), Roousee International (UAE)

Indian Law Firmslike Amarchand Mangaldas, AZB & Partners, Fox Mandal Little, Jyoti Sagar Associates, Luthra &

Luthra Law Offices, Khaitan & Co, Wadia Ghandy & Co., Nishith Desai and Associates, Anand and Anand, Dua

Associates, Singhania & Partners, Remfry & Sagar, etc

Corporate legal Departmentsof ICICI , Citibank, China Trust Bank, India Bulls, Cholamandalam, GE Capital, ITC,

HDFC, HSBC, HUDCO, Sahara India, UTI Bank, UCO Bank, Bajaj Allianz, General Insurance, Indian Oil, Bharat Petro., ONGC,

Wipro, Infosys, Satyam, Coca Cola, Reliance Industries, ITC, TISCO, Reliance Infocom, AT&T, Bharti, Ansals, NDPL,Godrej,

Genpect, Xerox Modi Corp, Lafarge, Raymond, Reid & Taylor, Thomas Cook, Pfizer, Ranbaxy, Wockhardt , etc.

Legal Process Outsourcingcompanies like Pangea 3, SDD Global, Infosys BPO, Mindcrest, Quislex, Wipro BPO, etc

Government Organizationslike Ministry of Law & Justice, MEA, Supreme Court of India / Sri Lanka, NHRC, SHRC,

SEBI, Law Commission of India, NLSA, etc.

NGOs, Lawyers, Academicians,etc.


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Placement:

All the Top Law Schools in India offer close to 100% placements and the biggest recruiters are Indian Law Firms,

International Law Firms, Management Consultancies, Corporates, NGOs, Legal Process Ou

CareerVista_Volume1

Documents

match fixing

extensive illegal gambling

countryc illegal gambling

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alleged spotfixing

pakistan win

specific bookies