12.08.2007

• About financial inclusion
• Nearly 40% Indians don’t even have a bank account. The unbanked population mostly hails from North East and eastern regions.
• Brian Eno
• Is widely regarded as the father of ambient music.
• The term "ambient music" was first coined by Brian Eno in the mid-1970s to refer to music that would envelop the listener without drawing attention to itself, that can be either "actively listened to with attention or as easily ignored, depending on the choice of the listener."
• Blu-Ray disc
• It has a storage capacity of 5 to 10 times over a DVD. Its storage capacity comes in terms of layers. A double-layer Blu-Ray disc can store up to 50 GB. Its capacity goes on increasing with addition of layers.
• Clearing the confusion on ECB limits
• Just a few days back somebody was asking me whether there is an individual limit to drawing foreign capital. I answered in the shout-box that if the ECB crosses $500 mn, it would be out of the automatic approval route.
• While what I said is not factually incorrect, our government’s moves in regard to restrictions on ECBs do have the potential of confusing what we already know in this regard. So, let’s take a re-look at the issue in the light of what is reported in today’s ET.
• There is no change in the provision of allowing individual companies to raise upto $500 mn through the automatic route. This means that companies can raise more than $500 mn through the normal approval route by the Government and the RBI. This is for foreign currency expenditures for permissible end use.
• Government ordained that companies would now be able to raise only upto $20 mn for rupee expenditure that too with prior approval by RBI. If a company wants to take an ECB beyond $20 mn for making rupee expenditure, it would need RBI approval. The move is aimed at containing huge inflow of external funds which were putting inflationary pressures on the economy. This is because the excess inflow of dollars puts pressure on the rupee by way of an increased demand for rupees.
• Regional air lines policy
• Don’t confuse them with the low-coast airlines like Deccan, Paramount etc.
• Government has come out with a policy of allowing purely regional players. It has notified a separate license called ‘Scheduled Operator Permit’. This new category of permit will be issued to airline firms operating turbo-prop and 80-seater planes and helicopters. The regional carriers operating with a take-off mass of less than 40,000 kg would get incentives like exemption from airport and navigation charges apart from the 4% sales on ATF.
• Such carriers will have to acquire three aircraft within one year and five at the end of two years. The paid-up capital of the regional carrier with three aircraft having take-off mass of above 40,000 kg will be Rs. 30 crore. Each additional aircraft will require Rs. 10 crore subject to a maximum of Rs. 50 crore beyond which no further equity will be required.
• Airlines with take of mass below 40,000 kg will require Rs. 12 crore as start-up capital.
• India-Africa summit
• Taking a leaf out of China’s experience, India has announced that it will be hosting the first ever India-Africa summit in April 2008.
• About 17 heads of states from the continent are expected to participate in the summit. China’s summit had been attended by over 40 heads of state.
• Is India alone in having infrastructure owes?
• We will be surprised to know that the US also has infrastructure deficits. In the light of the recent collapse of a bridge in Minnesota, it is interesting to note some of the figures being reeled out by their industry veterans.
• A quarter of America’s bridges were structurally deficient and that 1500 had collapsed since 1966. A third of America’s major roads were in poor condition. Airports are not able to keep pace with surging traffic and passenger volumes.
• US has spent less than 2% of its GDP on infrastructure versus China’s 9%.
• India’s largest mall
• The Great India Place at Sector 18 in Noida. It is so far, spread over 7 lakh sq. ft. When finished, it is expected to be about 5 floors and have a total of 15 lakh sq. ft.
• 30^th death anniversary of Elvis Presley
• He died on August 16, 1977 when he was all of 42 years age. He died of health problems from constant drug abuse.
• His fans are planning to have a grand anniversary on this 30^th anniversary.
• I like not just Sona, but also Sona family :) Watch out... Ik glassy, doh glassy theen galssy char, put ya hands in da air like u jus dun care, cuz u feel lika supastar