Archive for » June, 2011 «

Demystifying Swiss Banking…

Demystifying Swiss Banking…

There has been a lot of discussion in the media on black money lying in Swiss Banks.Baba Ramdev and Anna Hazare have made it as an agenda for their  campaigns. 


Recently there was an interesting article in Financial Express dated 16th June 2011.Those who are interested in reading it directly on line may please go to the following link :

I had read the article and had liked it.In response to it,this what I wrote to the Editor of FE :

Dear Sir,
This refers to the column titled ” DEMYSTIFYING SWISS BANKING” by Priti Patnaik in FE dated 16th June 2011.
At the time when the nation is hotly debating the issue related to bringing back the unaccounted (black money) crores lying in Swiss banks,you have rightly done your humble journalistic duty to educate your readers and general public about the modalities of opening and maintaining an account with a Swiss Bank.Priti seems to have done her homework well and has made a sincere attempt to lift the veil of secrecy from this burning topic of present times. It appears that Swiss Banks have a well defined due diligence system for opening an account and monitoring it in cases where the  customer is a PEP,to ensure that the amounts deposited in its secret vaults are not ill-gotten wealth from money laundering activities or from other unexplained sources.Whether funds generated from terrorist activites are open to greater scrutiny and vigilant action,were issues however,not amply clear from the piece.
Another follow up article from this journalist would perhaps elaborate the matter.Is it possible to get an official list of persons from India or Indians residing abroad,having accounts in Swiss Banks ? Are there any specific rules in Switzerland,like we have RTI Act here ? These and other such questions still need to be answered. The mystery of such issues still needs to be solved to quench the thirst of your readers.Kudos to FE and Priti for this well-timed article.
New Delhi  

Well,so far,my views have not been published but I loved expressing my opinion.

Your views and feedback on this topic will be appreciated.


Breaking News….

Breaking News…. 

The media is going gaga over the news item regarding Aishwarya Rai’s pregnancy.Here is what I spontaneously wrote under a funny poem of a poet on a forum:

Aish-Abhishek wedded 4 years ago,Nation worried,Finally,BIG B Tweets today that Aish is pregnant ! Breaking News :Big B to be a Grand Father ! Nation happy !
The bug continued to bite me.So here is what I instantly posted below a funny poem on another site :
20th April 2007 Aish-Abhishek marry

2007-2011 Nation worries….

2011 June 22nd Big B Spills beans-

Aish is on the family way…

Nation is happy !

Well, the creative bug continued to bite me and finally this is the poem I composed in a matter of about 15 minutes.Enjoy this creative baby of mine :

Breaking News 

It’s time for breaking news: 

Inflation may climb on forecast

Of deficient monsoons, they say

But its raining good wishes

On Big B and Abby Baby’s ways.

On forecast of Aish’s baby.

Don’t worry, be happy ! 

Greece under spell of financial ill-health

Greece PM survives vote of confidence

But all is well on our Bollywood front

As a spell of expectancy takes hold

3G Version of Bachchan Junior due shortly.

Don’t worry, be happy ! 

Auto companies hope to revive sales

With new launches in near future.

Fans of Bachchans revive their faith

At last Abhishek delivers a hit at home

Expected launch in November, of New Baby, 

Don’t worry, be happy ! 

Corruption more serious than Pak

Says Anna Hazare in Lokpal Meet

To hell with meetings, dharnas and fasts

Lets rejoice while euphoria lasts

Ab Buddha Hoga Grand Pappy,

Don’t worry, be happy ! 

Aish’s Doctor enjoys her minute of fame,

Astrologers predict health, glory, joy and name.

Microblogging on Twitter has hearty pokes

With funnies galore on Abhishek’s “No Idea” jokes.

Soon they will suggest names for this wonder baby.

Don’t worry, be happy ! 

A baby is always welcome, a bundle of joy so ample

An answer to a family’s prayers, visits to temples

No doubt the Bollywood’s First Family

Is overwhelmed with good wishes and blessings.

Watch the newspapers, magazines and the Telly,

Don’t worry,be happy !

Your responses will be highly appreciated !


India’s coolest start-ups….

India’s coolest start-ups

The latest issue of BUSINESS TODAY is on start-ups. Having worked in Bank Of India for 29 years ,I have had the opportunity of watching, Small Scale,Medium Scale and Large Scale industrial units grow from scratch to maturity and success.I have also seen them fail and turn sick.A few of them did revive as well. Hence I found the cover story very interesting.  This is what I wrote to the Editor of BT after reading the cover story :

Dear Sir,
Your cover story “India’s Coolest Start-ups” (BS 26th June 2011) was an interesting case study in itself, highlighting the success stories of entrepreneurs who had an idea whose time had come.
It is said that new ideas pass through three periods: a) it can’t be done, b) it probably can be done, but it’s not worth doing and c) I knew it was a good idea all along.Today,investors are attracted to such new ventures which are distinguished by their risk /reward profile and scalability.
 One major and interesting feature observed from such start ups is that generally they have lower bootstrapping costs,higher risk, but a higher potential for return on investment.
Another feature observed from these stories is that these days startups have several unique options for funding such as Venture Capital and Angel Investors.However,in practice though, many startups are initially funded by the founders themselves,as seen from the brief profiles of some companies in your cover story.
These stories have very important lessons to teach us.Often the difference between a successful person and a failure is not that one has better abilities or ideas, but the courage that one has to bet on one’s ideas,to take a calculated risk – and to act.
 Kudos to these entrepreneurs,but it will have to be seen in near future whether their companies prove the adage that ideas are the beginning points of all fortunes. 
New Delhi
I shall wait to see if my views are published in the next issue of BT or not,but anyway,I enjoyed responding to the feature.
Your views/responses will be appreciated.

What’s in a name …?

What’s in a name …?

In the FINANCIAL EXPRESS of  10th June,2011,there was a thought provoking Editorial titled :” Manufacturing India”.To read it directly on the paper’s website,go to the following link:

In response to the above , I had written a letter to the Editor as under :

Dear Sir, 

This refers to your Editorial titled :”Manufacturing India” in FE of 10th June 2011. 

Industrial units, were not long ago, located in what were called “Industrial Estates”. Later,their name was changed to “Free Zones”,”Free Trade Zones,” and “Special Economic Zones”. 

Often they have been euphemistically labelled as “Industrial Parks” and “Urban Enterprise Zones” too.Now, calling them ” NIMZ” (National Investment and Manufacturing Zones) as per the new policy,is nothing but old wine in new bottles !! 

As rightly said by you,the skeleton needs a brain to function and as seen over last 4-5 decades or more,merely labelling them by different names has not resulted in significant impact on the functioning of such units, located in such areas. 

Unless “Single Window Scheme ” is seriously implemented in all states for granting all registrations,approvals,NOCs,sanctions,certificates etc to an Industrial Unit,from one single authority,things will not be speeded up and entrepreneurs will have to keep running from one department to another as is prevalent at present. 

Further,number of 70 odd legislations now required to be complied with, need to be drastically cut down to a manageable number for smoother compliance.All concerned Ministries need to take a re-look at our antique laws and provisions made since “ancient” times. 

Power adequacy ,transportation facilities,sanitation,effluent treatment,waste disposal,skilled manpower availability,banking at door step of such industrial estates,etc have been perrenial problems till date,and unless these are sorted out,merely cosmetic surgery, by change of name or  nomenclature, is not going to give effective results.Where there is a will there is a way !


New Delhi 

Today’s  issue of FE contains an abriged version of my letter in the Letters to the Editor column.

To read the letter directly on line,go to :

Here is the letter as published :

Letters to the editor

The Financial Express
Tuesday, Jun 21, 2011 
: What’s in a name?  
Apropos of the editorial ‘Manufacturing India’ (FE, June 10), industrial units were, not long ago, located in what were called Industrial Estates. Later, their name was changed to Free Zones, Free Trade Zones and Special Economic Zones. Often, they have been euphemistically labelled as Industrial Parks also. Now, calling them NMIZ is nothing but old wine in a new bottle! The skeleton needs a brain to function and, as seen over last 4-5 decades or more, merely labelling them by different names has not resulted in significant impact on the functioning of such units. Unless “Single Window Scheme” is seriously implemented in all states for granting all registrations, approvals, NOCs, sanctions, certificates, etc, to an industrial unit, from one single authority, things will not speed up. Power adequacy, transportation facilities, sanitation, waste disposal, skilled manpower availability, banking at door step, etc, have been perrenial problems and, unless these are sorted out, merely cosmetic surgery, by change of name, is not going to be the answer. Where there is a will there is a way!

JS Broca, New Delhi

Your reactions/responses are welcome !


Shotgun-Rekha pair up onscreen again!

Shotgun-Rekha pair up onscreen again!


In a recent issue of SCREEN,there was an article on this famous on-screen pair of yester-years.

To read the article,go to :


Here is what I wrote to the Editor of Screen,in my letter in response to the above piece: Dear Editor, This refers to the news item in Screen of 30th May 2011. “Hot Shotgun and Sultry Rekha to pair again after decades”- is a news item head line that will be loved by their Bollywood fans.Both have their own distinct styles,charisma and USPs.“Rampur Ka Lakshman” made in 1972 and directed by Manmohan Desai was a super hit mainly due to its melodious music by RD Burman.Its hero was Randhir Kapoor.Shotgun had essayed the role of his estranged brother and a criminal gang leader with elan and his unique stylized acting.“Jaani Dushman” another movie of 1979 had Rekha too with Shotgun but Reena Roy had a meatier role in it if I remember correctly.Later on,Reena and Shatru had made a nice pair in several other movies of those times.How Shatrughan became “Shotgun” is also another story by itself.His confidence has been his magic mantra.Further, being big-mouthed and a brash actor with an I-damn-care and cock-a-hoop attitude made him the darling of the masses and the front benchers in cinema halls.His style of dialogue delivery won him rave reviews.He has been successfully multi-tasking these days with his political career,his Bhojpuri avatar of KBC,keeping a watchful eye over his lovely daughter’s career since her sensational debut with Salman in “Dabangg” as well as his association with a few but meaningful films with character artiste’s roles.These myriad portrayals have kept him in the limelight and has worked wonders for him.“APJKTH” ( Aaj Phir….Hai) will be a movie to be watched for,eagerly by fans of both thse stunning actors.Rekha remains an enigma till date and this brash Bihari boy has certainly travelled far.All the best to both of them. J S BROCA,NEW DELHI

I am sure,there are many fans of this pair out there who will be waiting eagerly to see their chemistry after decades!!


I-T deduction for heart surgery

I-T deduction for heart surgery  

I read the following article in Business Standard of 2nd June 2011.

Having worked in a Bank for 29 long years,I had the occasion to study many Balance Sheets of individuals,partnership firms and public and private companies as well,during the period.However,this issue is a new one and is quite interesting.Read on….
Shanti Bhushan to move SC on I-T deduction for heart surgery  

PALAK SHAH Mumbai, 1 June 

EMINENT lawyer Shanti Bhushan, who is making headlines as member of the Lok Pal Bill drafting committee, is also busy in something really close to his heart. He has decided to move the Supreme Court seeking income tax deduction for expenses incurred on heart surgery. “Monetarily, the impact of the high court order will be negligible. I file a return for some`10-15 crore annually and minor surgery costs will not affect me. But I would take the matter to the apex court for my principles.” Dismissing his plea, the high court noted that “if the heart were to be considered a‘plant’, it would necessarily mean that it is an asset which should have found a mention in the assessee’s balance sheet.

SHANTI BHUSHAN: The heart is a “plant” and the expenditure has been incurred on “current repairs”.

HIGH COURT: …it would mean that it is an asset, which should have found a mention in the assessee’s balance sheeet.Though the Delhi High Court today dismissed his plea, Bhushan hasn’t lost heart. He says he suffered a heart attack due to professional work and the expenditure incurred by him on a heart operation must be deductible under Section 31 of the Income Tax (I-T) Act.

Bhushan’s claim is based on the grounds that the heart is a “plant” and the expenditure has been incurred on “current repairs”. He also claimed that his professional receipts rose substantially after the operation and the expenditure was “wholly & exclusively” for his profession and deductible under Section 37(1) of the I-T Act. 

This was not done and cannot be done as the ‘cost of acquisition’ of such an asset cannot be determined, and, even if the widest meaning to the word ‘plant’ is given, the heart does not satisfy the ‘functionality’ test, because while the heart is necessary for survival, it does not mean it is used as a ‘tool’ for trade or professional activity.”

Well,I believe that the eminent advocate has a genuine case.The matter is still under debate.Let us see what the final outcome/decision is.

The issue made me recall some quotes related to the human body,the heart etc etc.Here they are…. 

Take care of your body.  It’s the only place you have to live.  ~Jim Rohn

To keep the body in good health is a duty… otherwise we shall not be able to keep our mind strong and clear.  ~Buddha

Your body is a temple, but only if you treat it as one.  ~Astrid Alauda

The human body is a machine which winds its own springs.  ~Julien Offroy de la Mettrie.

The body is your temple.  Keep it pure and clean for the soul to reside in.  ~B.K.S. Iyengar, Yoga: The Path To Holistic Health

Our bodies are our gardens – our wills are our gardeners.  ~William Shakespeare

The body is but a pair of pincers set over a bellows and a stew pan and the whole fixed upon stilts.  ~Samuel Butler, Notebooks

If the body be feeble, the mind will not be strong.  ~Thomas Jefferson

Hormones, vitamines, stimulants and depressives are oils upon the creaky machinery of life.  Principal item, however, is the machinery.  ~Martin H.Fischer

Man has made many machines, complex and cunning, but which of them indeed rivals the workings of his heart?  ~Pablo Casals

What fools indeed we morals are
To lavish care upon a Car,
With ne’er a bit of time to see
About our own machinery!        ~John Kendrick Bangs

The human body is the only machine for which there are no spare parts.  ~Hermann M. Biggs

You know the definition of the perfectly designed machine…. The perfectly designed machine is one in which all its working parts wear out simultaneously. I am that machine.  ~Frederick Alexander Lindemann

A human being is an ingenious assembly of portable plumbing.  ~Christopher Morley

Your heart knows not how to lie.  It is great that it lays deep in your chest and not in your mouth.  ~Kak Sri

We don’t stop playing because we grow old; we grow old because we stop playing. 

Our body is a machine for living. It is organized for that, it is its nature. Let life go on in it unhindered and let it defend itself, it will do more than if you paralyze it by encumbering it with remedies.- George Bernard Shaw 

The issue also made me think of some of my favourite old,not so old, Bollywood songs on the subject of Heart (called Dil in Hindi ) at random. 

Here is a list.ENJOY….. 

1.Yeh dil naan hota bechaaraa, kadam naan hotey aawaaraa,jo khoobasurat koee apanaa, humasafar hotaa….(Jewel Thief-1967)

2.Dil Vil Pyar Vyar , Maein Kya Jaanu Re,Jaanu To Jaanu Bas Itna ,Ki Maein Tujhe Apna Jaanu Re…(Shagird-1967)

3.Aa jaa rey,ab mera dil pukara,ro ro key gham bhi haara…(Aah-1953)

4.Aye dil mujhey bata dey,tu kis pey aa gaya hai…..(Bhai Bhai-1956)

5.Aye merey dil kahin aur chal,gum ki duniyan sey dil bharr gaya…(Daag-1952)

6.Bekraar-e-dil,too gaayey jaa….(Door ka Rahi-1971)

7.Chura liya hain tum nein jo dil ko…..(Yaadon Ki Baraat,1973)

8.Dil apna aur preet parayi,kis nein hai yeh reet banayee….(Dil Apna Preet Parai-1960)

9.Dil aisa kisi nein mera todaa.barbadi ki taraf aisa moda…(Amanush-1975)

10.Dil ka khilona hai toot gaya…(Shehnai-1959)

11.Dil key armaan aansuon mein beh gaye….(Nikaah-1982)

12.Dil key jharokhey mein tujh ko bitha karr….(Brahmchaari-1968)


13.Dil key tukdey tukdey karr key muskura key chal deeye…(Dada-1979)

14.Dil cheez kya hai,aap meri jaan lijiey…..(Umrao Jaan-1989)

15.Dil tadap tadap key keh raha hai,aa bhi jaa….(Madhumati-1958)

16.Dil tau pagal hai,dil deewaana hai….(Dil Tau Pagal Hai-1997)

17.Dil diwaana,bin sajnaa key,maaney naan….(Mainey Pyaar Kiya-1989)

18.Ek pardesi mera dil ley gaya,jaatey jaatey,meetha meetha gham dey gaya..(Fagun-1958)

19.Hai apna dil tau awara,naan jaaney kis pey aaey ga….(Solhvaan Saal-1958)

20.Merey tootey huey dil sey, koi tau aaj yeh poochchey….(Chhaliya-1960) 

Well I can go on and on,but my heart wants a break here….I shall wait for your hearty responses,dil waalo….



Ethical Hacking…

Ethical Hacking
Recently ( 6th June 2011) there was an Editorial in FE (Financial Express).Here its is :  

Constant Threat


The Financial Express
Monday, Jun 06, 2011  
Hacking is increasingly being viewed as a national level threat, what can India do to protect itself?  Between 2009 and 2010, the number of Web-based attacks have increased by 93%, according to Symantec. And going by the developments in the first half of 2011, this number looks like it’s going to increase. The most high-profile cyber attack in 2011 was the pillaging of Sony’s Playstation Network, in which more than 100 million users saw their confidential information compromised. On May 21, Lockheed Martin, the Pentagon’s primary arms supplier, said it had detected an attempt to hack into its systems, a serious breach of American security. In fact, cyber attacks have become so numerous and dangerous that the Pentagon said, under certain circumstances, such attacks can constitute an act of war. And they will be dealt with as such.  

This comes after several hacking attempts on the Pentagon and the Lockheed attack. Even the UK is assembling a ‘toolbox’ of cyber weapons to protect itself. The consensus among Internet security experts and those investigating the attacks is that many of them originated in China. Even Google, which suffered two attacks, said that it suspected the perpetrators to be in China.  

India isn’t safe, either. December 2010 saw the CBI’s Website, supposed to be one of the most secure in the country, being hacked by a group from Pakistan. Luckily, the group just left a message, without stealing or damaging anything. One answer, already in practice, is to hire ‘ethical hackers’ to design security systems and find flaws in existing ones.  

According to a study by the National Association of Software and Services Companies, the expected demand of ethical hackers in India by 2012 will be around 1,88,000, as against the 22,000 currently available. It’s time the government looks into trying to match this demand, it already got a scare with the CBI hack.  

Next time it might not escape damage so easily.

It was an inspiring editorial.I responded to it by writing a letter to the Editor : 

Dear Sir,
This refers to your highly inspirational Editorial titled :”Constant Threat” (FE 6th June 2011).
Yes,as rightly expressed by you,the threat from web based attacks is a growing menace in modern times and a clear strategy needs to be framed to nip it in the bud and curb it.
Not surprisingly therefore,breaking into computer systems,which once was considered merely a hobby and a pastime for computer experts with criminal minds, has become a full-fledged career-option for net-savvy minds these days.
In recent times, there has been a very alarming rise in cyber-crimes on the internet. E-mail accounts being hacked with regular frequency, stealthily intercepting sensitive industrial and personal data,sending abusive and malicious mails, and business espionage are some of the various forms of crimes that have started affecting us all.
These threats have in turn,increased demand for ethical hackers who can help us not only in testing our security systems and guarding against  computer vulnerability,but also in installing fool-proof and state-of-the-art safe-guards and fire walls etc to prevent such un-ethical practices.
Our main institutions like banks , airlines , hotels , tele-communication companies as well as  IT and ITes sectors,outsourcers,retail trading firms,etc are now rightly seeking services of qualified and experienced ethical hackers to help them check vulnerability of their systems.
Unfortunately,there is a huge demand and supply mis-match.So,it is high time that various IT Companies and our B Schools,think of starting recognized and approved degree courses in Ethical Hacking right away so that the safety of our institutions and our country’s security are not jeopardised by hackers,terrorist outfits and enemy nations.
Hope concerned ministries will pay heed before more serious attacks catch us unawares.We should think of the Boy Scout motto- Be Prepared ! Fore-warned is fore-armed you see !!
Today’s FE (10th June 2011) has published an edited version of my letter as under :

Letters to the editor

The Financial Express
Posted: Friday, Jun 10, 2011  

Ethical hacking

Apropos of the editorial ‘Constant threat’ (FE, June 6), the threat from Web-based attacks has become a growing menace and a clear strategy needs to be framed to nip it in the bud. Not surprisingly, therefore, breaking into computer systems has become a kind of career-option for the Net-savvy. But these threats have increased the demand for ethical hackers who can help in installing safe-guards and fire walls to prevent unethical practices. Unfortunately, there is a huge demand-and-supply mis-match. That needs to be looked into.

JS Broca, New Delhi

To read the article on FE’s website,go to :

 To read my letter on FE’s website you can go to :

 BTW,Ankit Fadia,is a person whose career has impressed me quite a lot.Here is something about him from Wikipedia : 

Ankit Fadia is an independent computer security consultant.He runs a program on computer security for corporates in alliance with Reliance Info.Ankit went to Delhi Public School, R K Puram for school.He started a website called “HackingTruths”.At 15, his book on Ethical Hacking made him the youngest author to be published by Macmillan India.

Fadia has also sponsored Singapore Management University‘s “Ankit Fadia Information Security Award”, which consisted of a $50000 cash prize and Certificate and was given for two years to “an outstanding student” in the Information Security and Trust Course under the Bachelor of Science (Information System Management) degree. 

To read more on him,go to : 

Incidentally,his birthdate is : 24th May,1985 ! 

Baba Ramdev –Humour

Baba Ramdev –Humour

The Baba is in the news again-for right or wrong reasons.I feel that he should stick to his core competencies -peddaling ayurvedic placebos to the faithful followers of the system or teaching yogic postures to those interested.

Yearning for political mileage or patronage should be far away from his agenda. His peccadilloes have lead to posting of several humourous take offs on the Baba by funsters like me. Here are a few samples : 

Once a guy winked at Rajnikant’s wife, Rajni twisted his limbs and broke his eyelid…..We now know him as Baba Ramdev. 

Baba Ramdev,pulled in a deep breath from his nostrils.The breath escaped from his behind with a noise !

Asked a Bhakta :”Baba,what was that ?” Baba said: ” Cross Ventilation.”  

Keep smiling….more later….!! 

BTW, if you wish to see Baba’s Pet Dog, go to :


Category: Humour, People  10 Comments

What is Facebook ?

What is Facebook ?
As per information gathered from Wikipedia,here is something about Facebook :
Facebook is a social networking service and website launched in February 2004, operated and privately owned by Facebook, Inc. As of January 2011,Facebook had more than 600 million active users.Users may create a personal profile, add other users as friends, and exchange messages, including automatic notifications when they update their profile. Facebook users must register before using the site. Additionally, users may join common-interest user groups, organized by workplace, school or college, or other characteristics. The name of the service stems from the colloquial name for the book given to students at the start of the academic year by university administrations in the United States to help students get to know each other better.
Facebook allows any users who declare themselves to be at least 13 years old to become registered users of the website.Facebook was founded by Mark Zuckerberg with his college roommates and fellow computer science students Eduardo Saverin, Dustin Moskovitz and Chris Hughes.The website’s membership was initially limited by the founders to Harvard students, but was expanded to other colleges in the Boston area, the Ivy League, and Stanford University. It gradually added support for students at various other universities before opening to high school students, and, finally, to anyone aged 13 and over, but based on on May 2011, there are 7.5 million children under 13 with accounts, violating the site’s terms.
A January 2009 study ranked Facebook as the most used social networking service by worldwide monthly active users, followed by MySpace.Entertainment Weekly included the site on its end-of-the-decade “best-of” list, saying, “How on earth did we stalk our exes, remember our co-workers’ birthdays, bug our friends, and play a rousing game of Scrabulous before Facebook?”Quantcast estimates Facebook has 138.9 million monthly unique U.S. visitors in May 2011. According to Social Media Today, in April 2010 an estimated 41.6% of the U.S. population had a Facebook account.
Here is some criticism of Facebook : 

Facebook has met with controversies. It has been blocked intermittently in several countries including the People’s Republic of China, Vietnam, Iran, Uzbekistan, Pakistan, Syria, and Bangladesh on different bases.  

For example, it was banned in many countries of the world on the basis of allowed content judged as anti-Islamic and containing religious discrimination. It has also been banned at many workplaces to prevent employees wasting their time on the site. 

The privacy of Facebook users has also been an issue, and the safety of user accounts has been compromised several times. Facebook has settled a lawsuit regarding claims over source code and intellectual property. 

In May 2011 emails were sent to journalists and bloggers making critical allegations about Google’s privacy policies; however it was later discovered that the anti-Google campaign, conducted by PR giant Burson-Marsteller, was paid for by Facebook in what CNN referred to as “a new level skullduggery” and which Daily Beast called a “clumsy smear.” 

Why I joined Facebook ? 

Seeing to the pressures from my friends,relatives,students,bank collegues etc,I had joined FB sometime ago and as on date I have 87 friends.I am still to become an addict though.I VALUE MY PRIVACY and so hesitate to be more open by posting family photographs etc.I restrict using my account for chatting with a few members sometime and posting my articles,poems etc from my blog. 

Jokes on FB : 

There are many jokes in circulation about FB and its impact,addiction,usage etc.From time to time I hope to post some jokes on this blog with a view to justify the tag-line of my blog :”Laughter is the best medicine.” 

Here is the first one in this series : 

More on FB later.Till then,keep smiling…

Merchant Bankers

Merchant Bankers..

As per SEBI’s guidelines, issued way back in 1992, a “merchant banker” means any person who is engaged in the business of issue management either by making arrangements regarding selling , buying or subscribing to securities as manager, consultant, adviser or rendering corporate advisory service in relation to such issue management.’

Recently,there was an article in FINANCIAL EXPRESS dated 27th May 2011 on the subject matter.It was titled :” Rating Those Merchant Bankers.”

To read the article,go to the following link:

I had sent my views on the topic to the Editor of FE .Todays issue of FE,carries my letter under the Letters to the Editor column.

Here is what is published in FE :L

etters to the editor

The Financial Express
Posted: Monday, Jun 06, 2011


Merchant bankers 
Apropos of the column ‘Rating those merchant bankers’ (FE, May 27), merchant bankers in India have often been criticised. Some of them have personal relationships with a company management’s top honchos; some don’t downgrade a company promptly enough after noting discrepancies; some suddenly lower a credit score of a company and which can result in a vicious cycle, since, by its action, not only interest rates for the company would go up but also other contracts under consideration with financial institutions are likely to be affected, causing not only an increase in expenditure but also a decrease in its credit worthiness. In light of the above, it is suggested that a system must be put in place whereby all major merchant bankers agree to sign a mandatory code of conduct. Let’s hope Sebi will show willingness to bind the merchant bankers.

JS Broca, New Delhi

To read the letter on FE’s website,go to the following link:

Your feedback will be appreciated.