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September 2, 2000, Chandigarh, India   
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The mouse is making their lives simpler
CHANDIGARH, Sept 1 — The LIC of India (Chandigarh division) completed the year 1999-2000 with Rs 803 crore SA against Rs 661 crore SA with growth of 21.45 per cent. The division sold 1,21,838 policies with first premium income of Rs 29.69 crore showing a growth of 14.7 per cent and 18.7 per cent respectively, said Mr R.C. Sodhi, Senior Divisional Manager of LIC, Chandigarh division in a press release here today. Baleno Altura
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Firms given more time for amnesty Indian American pleads guilty to fraud How are states doing? Delhi tops
The mouse is making their lives simpler NEW DELHI, Sep 1 — An Indian government office without paper could qualify as a feat worthy of an illusionist’s ingenuity. And the Ministry of Information Technology (MIT), which is attempting the Great Indian Paper trick in its own offices, could use some magic indeed. After all what is a bureaucrat without files and notings? Floppies and e-mail mark a renaissance employees are somewhat reluctant to accept, or such is the experience of a team of engineers coordinating an “e-office” project in Electronics Niketan, the MIT’s headquarters. It was in April that Information Technology Minister Pramod Mahajan ordered the creation of a paperless MIT to set an example for other government departments. At a nominal cost of Rs 10 lakh, the project was formally teed off on Independence Day. The ministry has developed six software packages indigenously, without following established models in the USA or Europe, said the scientists in charge of the project. After about a fortnight of beginning operations, it is amply clear that the e-office is confined to the higher echelons of the ministry. “The resistance of employees has to be overcome, and we are conducting special training classes for all our divisions”, said the Director, e-governance, S.P. Singh. “It is an attitudinal change that has to be gradual.” But first, the employees are being taught how the mouse makes their lives simpler. The paperless — or less-paper — MIT enables staff to apply for leave without having to face the bosses. That is something which, according to scientist Omveer Singh, is a major advantage. “There is an online format whereby your can state the type of leave and reasons, and send it to the officer concerned. The officer would simply have to choose one of the two options — approve or reject. After which the request comes back to the sender, all in a matter of a few minutes.” The catch for the lower staff is that the senior officers can find out exactly who is on leave any given day. This move has invited stiff resistance from the staff below the level of section officer. The e-office also eliminates the need for office attendants, barring functions that essentially need the human touch, like fetching water. No more tedious dictations, corrections and retyping of official drafts. The new Lotus mail enables the official concerned to check the draft on his screen, make necessary changes and send it directly to the recipient. To an idle brain, noting the movement of a file between government departments can be most fascinating. The same correspondence, done electronically, takes away most of the fun. The “green sheet” — as applications are usually called in bureaucratic parlance — can be delivered instantly through their system of e-notings. Compare this to the existing system. The file is sent to the personal assistant, who notes it in a diary and hands it over to the office attendant. The attendant takes it to the department concerned, but usually takes his own sweet time. Somewhere along the way, the file even gets lost. Inland tour approvals are being sought electronically. According to D.V.L. Narayana Rao, the two-level approval procedure takes a few hours instead of the usual three days. Notably, there is no significant reduction in the number of questions that a leave seeker has to answer electronically. The “e-form” is all too similar to the dreaded yellow forms and white forms that employees are used to. The respondent is not spared of questions such as “prefix”, “suffix” and grounds. At the end of the form, the officer has but two choices - approve or deny. The reasons for denial have to be given in a message board attached to the form. Funding for research and development proposals is also being routed on-line, but the channel is as complicated and multiple as the good old days of the papyrus. Though the travel time is significantly reduced, the time taken for a transaction is still dependent on the whims of man. Says Rao: “For the present, we have to adopt the manual format so the procedure still remains largely the same”. That includes the red tape. The ministry is currently developing software for filing of monthly, annual and financial progress reports online. It has also automated replies to Parliament questions through e-mail. The department most relieved is undoubtedly Accounts. Earlier they used to spend the entire month gathering data and making laborious calculations. Now their work is finished before the middle of the month. No other Ministry has moved towards adopting the “paperless office” in its departments, says Singh. “That would be a decision for the Department of Pensions and Administrative reforms — under Arun Shourie — to take. We are doing our bit by setting the trend.” |
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LIC starts voice response
system CHANDIGARH, Sept 1 — The LIC of India (Chandigarh division) completed the year 1999-2000 with Rs 803 crore SA against Rs 661 crore SA with growth of 21.45 per cent. The division sold 1,21,838 policies with first premium income of Rs 29.69 crore showing a growth of 14.7 per cent and 18.7 per cent respectively, said Mr R.C. Sodhi, Senior Divisional Manager of LIC, Chandigarh division in a press release here today. In the claims settlement, the division settled 66,163 maturity claims and 1,778 death claims paying Rs 81.28 crore and Rs 12.29 crore respectively. Mr Sodhi said the pension and group insurance unit also achieved budgeted targets on all counts. As many as 228 new schemes covering 37,737 lives with premium income of Rs 4.51 crore were introduced during the year registering a growth of 25.37 per cent over the last year. The LIC has set up an “interactive voice response” system here. The policyholders in Chandigarh and Mohali can get information about their policies over the telephone by dialing 716601 at any time. To render prompt and efficient service to its policyholders, the corporation has decided to establish metro area network in big cities. All the branches at Chandigarh will also be brought on metro area network shortly and the policyholders will be able to deposit their premiums and get their servicing need attended in any of the local branches. During the year the LIC sold 167.77 lakh policies for a sum assured of Rs 91213.42 crore and collected first premium income of Rs 3484.05 crore which is an all time record. Out of this 47.7 per cent business came from rural area. The corporation contributed Rs 56,097 crore for national development in the eighth Plan and Rs 79,666 crore for the ninth Plan. |
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Baleno Altura launched NEW DELHI, Sept 1
(UNI) — Maruti Udyog Limited (MUL) today launched Baleno Altura stationwagon, the costliest car in its stables, sporting a price tag of Rs 8.15 lakh (ex-showroom
Delhi). MUL Managing Director Jagdish Khattar said the company, will meet the target of launching two more models in the 2000 calendar year as part of attempts to revive demand. However, there are no plans to roll out the diesel Baleno. Launching the Baleno Altura, powered by a 1600cc, 16-valve multi-point fuel injection engine, Mr Khattar said: “Baleno Altura is a lifestyle product, a stationwagon with all the premium luxury and performance values of the Baleno Sedan.” The car delivers a maximum power output of 94bhp at 6000rpm. It features speed sensitive power steering, electric power windows and central locking on all doors, electric mirrors and a remote controlled stereo system. Additionbal features include a roof rail for attaching racks as well as additional luggage, a rear window washer and wiper and underfloor storage compartment. Car sales rebound Maruti today predicted that the entire industry’s growth will be restricted to under 10 per cent this fiscal. Maruti’s sales in the month also managed to inch up to close to 31,000 units from 30,575 a month ago. Daewoo sales up Daewoo Motors India bounced back with a 10 per cent growth in sales in August this year at 4,497 units, up from 4,110 units sold in July this year. The sales in August this year also represent a 36 per cent growth over 2,862 units sold in August last year. Of the 4,497 units sold in August this year, Matiz accounted for 4,293 units while Cielo and Nexia made up for the rest. Honda City sales up Honda Siel Cars India Limited raced ahead on its mid-sized ‘City’ to record a 34.81 per cent growth in sales in August this year at 817 units, as against 606 units a month ago. The cumulative sales in the current fiscal stood at 4,050 units, up 6 per cent (236 units) from 3,814 units a year ago. New Ford Model Ford India Limited, which recorded a marginal 0.66 per cent drop in sales in August this year at 1,492 units, is all set to roll out a special edition version of Ikon — SXI — by mid-September.
The car to be positioned close to the Ikon ZXI, will be a sporty model with production limited to under 1,000 units, Ford India Vice-President John Fink told newspersons here today. |
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Firms given more time for amnesty NEW DELHI, Sept 1 (PTI) — The Government has extended the deadline for the Company Law Settlement Scheme 2000 by one month to September 30 following rush by companies during the last two days to file their returns. The government mopped up about Rs 77.53 crore till yesterday and a further sum of Rs 5 crore was expected to come early today, an official release said. The scheme allowed corporates that defaulted in filing their returns like annual reports and balance sheet with the Registrar of Companies (RoC) to pay a one-time fee for getting amnesty. The scheme, which was open for three months, had come to an end last night and the decision to extend the deadling by one month follows demand by various industry associations to extend the scheme. The government had warned non-complying companies that they would be blacklisted by the government, nationalised banks and financial institutions. |
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Indian American pleads guilty to fraud OAKLAND (California), Sept 1 — In one of the most high-profile stock fraud cases in Silicon Valley history, Paul Jain, the Indian American founder of Media Vision Technology Inc., has pleaded guilty in a federal court here to two counts of wire fraud that resulted in investors losing tens of millions of dollars in 1994. Jain (55), a former CEO of Media Vision, has been scheduled to go on trial on September 18 on a variety of charges, including wire, mail and bank fraud and giving false statements to securities investigators. But his last-minute plea bargain agreement leaves chief financial officer Steve Allen as the lone Media Vision executive set to face a jury on fraud and securities charges on September 18. Jain, the fourth top Media Vision executive to make a deal with federal prosecutors, is scheduled to be sentenced on December 1. Ironically, another high-profile securities fraud case involving an Indian American entrepreneur was also in the news. A federal appeals court has overturned the convictions of California Micro Devices former chief executive officer Chan Desaigoudar and another Cal Micro executive. Prosecutors say that the Media Vision fraud resulted in a $ 200 million loss for investors, which could mean a sentence of as much as seven to nine
years for Jain. He is also charged with illegally receiving $1.49 million in profits on insider trading, but the amount of the fine that could be imposed wasn’t disclosed in the plea agreement. Steve Sidener, a San Francisco attorney who sued Media Vision for $ 30 million on behalf of investors, told the Chronicle that “My impression is that it was not just Steve Allen. I don’t see this as the result of one man’s conduct. It was a group collaboration.” According to the U.S. attorney’s complaint, Media Vision’s senior executives pressured the firm’s business partners to claim they held millions of dollars worth of non-existent inventory, after discovering about a $ 6 million shortfall in 1993 sales. An Indian company also falsely claimed to have bought $ 6 million of goods from Media Vision, which was later entered into the company’s books. Jain also admitted he supplied false information to investors when he and Allen talked to stock analysts about 1993 results. The U.S. attorney’s office said Media Vision reported revenue of $ 241 million and a profit of $ 20 million, even though they knew that about one third of the income was invented. They also hid about $10 million in returned profits. Bankruptcy followed later and the company reorganised under a totally different management as Aureal Semiconductor, Inc. Jain came to the USA when he was 19, after attending school in Vienna, Austria, after getting his bachelor’s and master’s degrees at U.C. Berkeley. — IANS |
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How are states doing? Delhi tops NEW DELHI, Sept 1 — Delhi has been ranked as the best state for investment and Punjab and Haryana have been rated seventh and 12th, respectively, out of the 16 states considered for investment ranking, according to a CII sponsored study released here today. The findings of this study is quite surprising as other studies conducted by different organisations recently indicated that Maharashtra and Gujarat attracted huge investments compared to other states and Karnataka, Andhra Pradesh and Tamil Nadu are considered to be the most favoured destination for investments in the IT sector. In the study “How are states doing?”, Gujarat ranks second and Maharashtra third, Tamil Nadu ranks sixth, Andhra Pradesh eighth and Karnataka tenth in terms of investment destination. Dr Bibek Debroy, Director of Rajiv Gandhi Institute of Contemporary Studies, who headed the study for the CII, said the Delhi’s position may have somewhat biased form in the sense that headquarters of a majority of firms are in Delhi and actual investment could flow to Haryana and Uttar Pradesh. When CMI and other similar studies on economic growth are taken into account, the ranking is not altered to any significant level. The study, which is based on post 1995 data till 1999-2000, will now be an annual feature and the conclusions will be published in September every year, the CII President, Mr Arun Bharat Ram told newspersons. In almost all rankings, Bihar got the lowest position, with Orissa standing at the second last rank. In the tally of general achievement, Himachal Pradesh left other states behind and Gujarat was the topmost in the investment climate category. The study also stated the strengths and weakness of each state. Haryana’s strength, the study, said was its general achievement, investment climate, infrastructure penetration, labour, affluence, consumer purchase, personal finance. Its weakness was finance, social sector, law and order, mass media. For HP, the study said, its strength was general achievement, law and order and consumer purchase. Its weakness was infrastructure penetration, finance, labour, affluence, mass media and personal finance. The study observed that Punjab’s strength was its general achievement, investment climate, infrastructure, penetration, consumer purchases and personal finance. |
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Next: buy shares on mobile phones Pointing out that rapid developments in Information Technology, Internet and Telecommunications were transforming the capital markets giving birth to new trading mechanisms, he said the number of online investors was increasing exponentially ever since
SEBI issued guidelines in this regard in December last year. With the introduction of Real Time Gross Settlement
(RTGS), SEBI would move towards a Delivery Versus Payment (DVP) system that would facilitate simultaneous settlement of securities and cash, Gahrotra said adding “This was unimaginable a few years ago but will be a reality shortly”. The
SEBI was also working on implementation of a system which will allow submission of returns to stock exchanges, Registrar of Companies and other authorities online instead of personally going to file them, he said. “To make this more transparent, these returns will be made accessible to public thus making the companies more responsible and accountable to shareholders,” he said. The seminar was organised by the Hyderabad Chapter of Institute of Company Secretaries of India. The next logical step, the SEBI official said, would be electronic voting for resolutions at AGMs, heralding
e-AGMs. IT road to settle PF claims in 3 days Some of the other initiatives taken by the EPF organisation are providing unique all India identification numbers to each employee participating in the scheme, release of code numbers to each employee participating in the scheme, release of code numbers to each employer within three days and e-filing of returns. Mr K.C. Pandey, Regional Commissioner, Provident Fund, informed that the voluntary compliance scheme presently in operation been started only on experimental basis and its continuation depends largely on the success of the scheme. Mr S. Chandershekheran, Insurance Commissioner, ESI Corporation admitted that the coverage of the scheme was very limited. While there are about 400 million workers, ESI scheme presently covers only 8 million workers. The corpus fund of ESI is about Rs 5000 crore but only half of it is available for managing the ESI hospitals. Mr B.C. Bhardwaj, Regional Director ESI Corporation, Dr Ratan Chand, Deputy Director Health Services ESI Scheme (Himachal Pradesh), Dr K.K. Garg, Jt Director-Health Services Union Territory, Chandigarh, Dr T C. Malhan, Director — Health Services, Government of Punjab, Mr Gajinder Samhtra, Senior Medical officer incharge, ESI, Chandigarh and Dr (Mrs) S. Singh, Medical Commissioner, ESI also spoke on the occasion. PunCom gets 9 cr orders from SEBs PLCC equipment is used to carry communication signals over the high voltage electrical lines, thereby eliminating the use of separate cables for telecommnication needs of the state electricity boards. Mr Salil Khanna, head of marketing division PunCom said: “Apart from diversification in the power sector we are also vigorously targeting the defence sector communication products market. “Recently, PunCom has also received an order from IAF to design and supply modules for aircraft originally purchased from Russia, he said. |
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Now a song on a mobile Stevie Wonder’s I Just Called to Say I Love You has already been nominated by at least one EMI executive to warble from his mobile. However, those with more up to date tastes will be able to choose from a range of artists including Blur, Robbie Williams, the Spice Girls, Puff Daddy and Janet Jackson. Nokia and EMI have an exclusive six-month agreement to launch the product. But both companies are negotiating with other parties to extend the reach. If a favourite band or artist is not published by EMI then the wait should not be too long before mobiles are tinkling Abba’s Ring, Ring or Blondie’s Hanging on the Telephone. The service should also be available on Motorola and Ericsson handsets in the future. The fee for downloading a favourite song is expected to be well under US$1.50, according to EMI Music Publishing’s director of media, Jonathan Channon. Downloading a song to a mobile will be available in the autumn through Club Nokia on the internet or by sending a text message to a phone number to obtain the song. Mr Channon said both companies expect “tens of millions of downloads” by 2003. The revenue for Nokia and EMI is put in the scale of “millions of dollars” because users are expected to change their call songs frequently. A few companies offer similar services, with Worldpop.com providing a selection of 10 songs favoured by Ibiza fans for use as ring tones on mobile phones. Moloko’s Sing it Back has proved very popular. — The Guardian 234 employees face the axe But in March, when MicroStrategy disclosed that it had overstated revenue and that instead of making a profit, it had lost money for each of the three previous years, its stock, which peaked at $313 a share just before the announcement, dropped to less than $30 and on August 28, closed at $27.50. The same day, the company said it would dismiss 234 employees, a little over 10 per cent of its workforce, to counteract business setbacks, including an investigation by the Securities and Exchange Commission and several class action suits by its shareholders who had suffered massive losses on their investments and felt they had been betrayed. Several Indian Americans and Indians on H-1B temporary work visas who were hoping to be ultimately sponsored by MicroStrategy, are also expected to be affected by the lay-off since the company over the years had hired a considerable number keeping in mind the penchant for information technology by Indian Americans.
Sinha leaves for USA Official sources told PTI that Mr Sinha, who was originally to go to the USA along with Mr Atal Behari Vajpayee later this month, has advanced his visit.
— PTI |
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M.L. Garg ‘Gem of India’ Cisco Systems Shahnaz Hussain Vintage India Wilco 3M printer LML plant Indo Rama |
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