Sanofi India Q2 net dips 18.51% to Rs 40.5 cr

Total income of the company, however, rose to Rs 383 cr from 322 cr in the same period last yearDrug firm Sanofi India today said its net profit dipped by 18.51% to Rs 40.5 crore for the quarter ended June 30, 2012 mainly on account of amortisation costs. The company had posted a net profit of Rs 49.7 crore for the same period previous fiscal, Sanofi India said in a filing to BSE.Total income of the company, however, rose to Rs 392.6 crore for the reported quarter from Rs 322.3 crore for the same period year ago.
"The profit for the quarter and half year ended June 30, 2012 has been impacted due to the amortization costs relating to brands and the technical know-how required in 2011 from Universal Medicare Private Ltd and lower interest income as a result of the above investment," the company said. In another filing to BSE, the company said its board of directors has declared an interim dividend of Rs 4 per equity share of Rs 10 for the financial year ending December 31, 2012. The interim dividend will be paid on August 16, 2012.

Nokia appoints P Balaji as the new managing director

Handset maker, Nokia India has hired P Balaji managing director of Sony Mobile Communications India as the new MD. After losing the top slot in the Indian market during last two years, Nokia is working on a major comeback by launching new models with some attractive offers. The company had seen erosion in its market share from about 75% a few years ago to about 39% now, according to some estimates. The company is investing in high-decibel advertising such as Kolkata Knight Riders to Channel V's Nokia India fest, and social media campaign . It is also betting on operating systems-the Windows phone, officials said. The Finnish handset giant Nokia announced its global turnaround strategy last year that included exploiting the rapidly shifting market in smartphones, to profit from its new partnership with Microsoft and to develop services based on its own assets. 

Bajaj Electricals Q1 net up 8% at Rs 12 cr

Bajaj Electricals today reported 8.32% increase in net profit for the quarter ended June 30 at Rs 11.98 crore. The company had posted net profit of Rs 11.06 crore in the corresponding period last year, Bajaj Electricals said in a filing to the BSE.The net income during the first quarter of the fiscal also went up by 22.38% to Rs 666.19 crore from Rs 544.36 crore in the year-ago period, it added.

Jyothy Laboratories Q1 net up 26% at Rs 18 cr

FMCG firm Jyothy Laboratories said its net profit rose by 25.67% to Rs 17.62 crore for the first quarter ended June 30, 2012. The company had posted a net profit of Rs 14.02 crore during the same period of previous fiscal, Jyothy Laboratories Ltd (JLL) said in a statement.Net sales of the company rose by 70.63% to Rs 209.86 crore for the first quarter as compared to Rs 122.99 crore reported in the corresponding period of last fiscal.
Commenting on the results, JLL Chairman and Managing Director M P Ramachandran said: "We are on the right path of growth and the merger of Henkel India Limited with Jyothy is one such step. The integration of Henkel with Jyothy is being completed". Jyothy Laboratories markets various brands, including Ujala, Maxo, Exo and Henko.

Tata Tele Maharashtra's Q1 net loss widens at Rs 163 cr

Tata Teleservices (Maharashtra) said its net loss has widened at Rs 162.66 crore for the first quarter ended June 30, 2012. The company had reported net loss of Rs 119.32 crore for in the year-ago period."The Company has considered Rs 154.86 crore, being the LF (Licence Fee) on profit on sale of investment and bad debts written off during the earlier year, as contingent liability and has also made payment of the same to Department of Telecommunications under protest," TTML said in a statement.
However, revenue of the company rose by 11.78% at Rs 659.48 crore during the quarter compared to Rs 584.98 crore it reported in the corresponding period last year fiscal. "The company maintained a strong focus on wireless broadband services. Its VAS (value added services) and data revenues accounted for 35% of total wireless revenues in Q1 FY13," the statement said.

Sterlite Industries Q1 net dips 27% to Rs 1,202 cr

Sterlite Industries (India) today reported nearly 27% dip in consolidated net profit at Rs 1,202 crore for the first quarter ended June 30, due to losses from forex, associate firm and higher interest outgo. SIL had clocked Rs 1,640 crore net profit in April-June quarter of the last fiscal."During Q1, profits were impacted by mark to market loss of Rs 217 crore on foreign currency loans and higher interest costs of Rs 78 crore," SIL said in a statement. It has lost Rs 167 crore incurred by an associate company during the quarter. It has lost Rs 167 crore incurred by an associate company during the quarter.
Net sales of the company during the reporting quarter were up by eight% at Rs 10,591 crore, primarily due to rise in volume of lead, silver and zinc in India, commercial power and copper as compared to Rs 9,863 crore in the year- ago period. However, its EBITDA was down by 15% to Rs 2,337 crore, due to lower metal prices, lower sales at Balco and higher production cost. Total expenses of the company, including the cost of raw material consumed, was higher at Rs 9,076 crore compared to Rs 7,532 crore a year ago.

Mobile banking deals increases to Rs 286 cr in May

Banking transactions through mobile phones have more than trebled to Rs 286 crore during May on account of a higher number of users with hand-held devices. The value of such transactions stood at Rs 91 crore in May 2011, according to the Reserve Bank.The number of bank transactions through mobiles also grew over two-and-half times to 3.34 million in May, 2012 from 1.28 million in May, 2011.
As number of mobile phone subscribers are growing rapidly, banks in collaboration with telecom companies are seeking to develop an alternate channel for the delivery of banking services as a part of the financial inclusion programme. As on May 31, 2012, the RBI has permitted 69 banks to provide mobile banking services to their customers.
However, the central bank feels the growth rate is low when compared with the number of bank accounts and the number of mobile subscribers. "Even though the value and volume are increasing on month on month basis, the growth rate is low when compared with the number of bank accounts and the vast mobile subscriber base of more than 900 million," said Harun R Khan, Deputy Governor, RBI in a speech on Financial Inclusion recently. 
This indicates that banks are yet to fully exploit this technology even for their existing customers, he said adding that RBI has provided policy framework for a collaborative relationship between banks and mobile network operators. Banks allow fund transfers both for personal remittances and purchase of goods and services without any ceiling as per mobile banking guidelines of the RBI. The rapid growth in users and wider coverage of mobile phone networks have made this channel an important platform for extending banking services to customers.
Banks also offer information based services like balance enquiry, stop payment instructions of cheques, transactions enquiry, location of the nearest ATM and branch through mobile banking. Some banks offer services like acceptance of transfer of funds instruction for credit to beneficiaries of same or another bank in favour of pre-registered beneficiaries. However, there are technology and security related challenges to deliver financial services through information and communication technology (ICT) based models.

Lupin looks to acquire brands in the US

Drug major Lupin is looking to acquire brands and technology firms to increase reach in the US market as the company aims to grow sales by over 20 per cent in the world's most lucrative drug market over the next two years. "We are looking to acquire brands in the US market and and also eyeing companies that are based on technology platform," Lupin Ltd Managing Director Kamal K Sharma told Press Trust of India.
He said the company would grow over 20 per cent in the US aided by enhancement of speciality business, including oral contraceptives portfolio. "We should grow at 20 per cent year-on-year for the next two years. We are following a three pronged strategy which includes addition of more value added products, increasing reach and acquisitions," Sharma said.
He, however, did not share details on the brands or companies which the company plans to acquire in the US market. Lupin's US formulations revenue grew 22 per cent to Rs 2,530.3 crore during FY2012 as compared to Rs 2,079.8 crore in FY2011.
During 2011-2012 fiscal, the company also entered the US oral contraceptives space and has already launched three products in the segment. The company, which seeks to evolve into a speciality pharma company has gone beyond generics and has started filing for approvals for niche speciality segments like high-end dermatological products.
The company is also looking to target the anti-asthama and chronic obstructive pulmonary disease (COPD) therapy segments. On the Latin American and north American market, Kamal k. Sharma said: "We are trying to get deeper into the continent." Lupin had entered Latin American market over a year ago by setting up a subsidiary, Lupin Mexico SA de CV, which has started filing products for the market. The company would be addressing the branded and the generic pharmaceutical space within the Mexican market, the company had said earlier.

49 hydro electric projects to generate 13,000 MW of power

There are 49 hydro-electric power projects under execution or at a planning stage in the country with a capacity of 13,000 MW costing about Rs 80,000 crore, Hydro Project Monitoring Division of Ministry of Power has said. Replying to the queries raised by an RTI, the Ministry said that there was only one project planned in Maharashtra that of Koyna Left Bank which would be taken up in the 13th five year plan to generate 80 MW of power and would cost Rs 245 crore. The ministry informed that there were 16 projects underway in the Central sector that would generate 7,773 MW of power and would cost Rs 47,770 crore and another 16 projects in the State sector which would generate 1,688 MW of power and would cost Rs 11,295 crore. In the private sector, a total of 17 projects are under way and they would generate 3570 MW of power and would cost Rs 21,201 crore, according to the ministry. Of the total planned projects, the lion share has gone to Himachal Pradesh with 12 plants which are expected to generate 3,282 MW of power and cost Rs 20,123 crore followed by Sikkim with 10 plants to generate 2421 mws of power and cost Rs 13802 crore. 

Indian Overseas Bank seeks Rs 1,500 cr capital

Indian Overseas Bank (IOB) said it would require around Rs 1,500 crore recapitalisation support from the government in the current fiscal. "We find a gap of around Rs 1,500 crore apart from ploughing back of profits for the current year and we expect the government will continue support like the previous year," IOB Chairman and Managing Director M Narendra said here today on the sidelines of banking conclave 2012 organised by FICCI. 
He added that there is no concrete plan on alternate methods of raising capital in case the government did not fulfil the Rs 1,500 crore demand. The bank has taken shareholders approval to raise a little over Rs 401 crore. It has various options, including Qualified Institutional Placement ( QIP), to raise the money. Speaking about the proposed $500 million issue of MTN, Narendra said, "We will do it shortly and will initiate it after State Bank does in it August." MTN are medium term notes or loans in foreign currency deployed to Indian firms for overseas investment activities. The bank is aiming at Rs 4,00,000 crore business with growth target of 18-20 per cent in advances and deposits. IOB would continue to pursue overseas expansion and is planning presence in Vietnam along with Bank of India.

Jaideep Bhattacharya appointed as MD Baroda Pioneer Asset Management Company

Jaideep Bhattacharya has been appointed as MD Baroda Pioneer Asset Management Company. Jaideep was formerly group president and chief marketing officer at UTI Mutual Fund.He was part of the core management team,driving the overall sales and marketing strategy for the fund house.Prior to UTI, he was with ICICI Bank as country head,products,channels & marketing of the SME group. "BPAMC continues to see its assets grow - over the last quarter the business saw a 31.5% increase in AUM, moving up its overall ranking from 25th place to 20th place. With Jaideep now on board, we are confident that the BPAMC business which has great potential, is ideally placed to become one of the top players in the market," said M D Mallya, Chairman & Managing Director, Bank of Baroda in a press statement.

Shyamal Bhattacharya takes over as the Director (Operations), at ONGC Videsh

Shyamal Bhattacharya has taken over as the Director (Operations), at ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC). Bhattacharya, a geoscientist, has held various key positions during his postings at different locations across the country in ONGC, the company said in a statement. "A graduate in Petroleum Engineering from Indian School of Mines, Dhanbad, Bhattacharya has more than three decades of diversified experience in reservoir engineering, reservoir simulation, water flooding, increased oil recovery (IOR) & enhanced oil recovery (EOR) techniques and reservoir operations," it said.  In his previous role as the Head of Institute of Reservoir Studies, Ahmedabad he was instrumental in leading a team of around 250 geoscientists, facilitating formulation of development schemes of oil and gas fields of ONGC across the country. 

Ambit appoints Premal Doshi to head markets division

The Ambit group said it has strengthened its corporate finance team by inducting Premal Doshi as the head of its equity markets team. Premal will report into Ambit chief executive Sanjay Sakhuja, the company said in a release. Premal, a chartered accountant and a cost accountant by qualification, has over 20 years of experience, and joins Ambit from Antique Capital Markets. Prior to Antique he was with Motilal Oswal, Anand Rathi Securities, Lazard and JP Morgan. 

Rajeev Tewari appointed director Canon India

Printing and imaging solutions provider Canon India announced the appointment of Rajeev Tewari as Director of its CSP group. The Canon System Products (CSP) group comprises of inkjet product division, laser product division and system integrators division. 
He replaces VP Sajeevan, who led the CSP group for over five years. Prior to the new role, Tewari headed the wide format imaging division. "Rajeev's decade long association with Canon has been that of exceptional understanding of technology and customers. We are confident that under his leadership, the CSP group will benefit greatly," Canon India Senior Vice President Alok Bharadwaj said.

Sebi appoints Murlidhar Rao as Executive Director

Market regulator Sebi has appointed S V Murlidhar Rao as its new Executive Director to fill a vacancy created by the recent exit of Usha Narayanan. Rao was a Chief General Manager in Sebi's Markets Regulations Department till recently, but his portfolio as an Executive Director could not be immediately ascertained. 
A post of Executive Director fell vacant at Securities and Exchange Board of India (Sebi) after the recent exit of Usha Narayanan, who was heading the regulatory authority's corporation finance department. Narayanan left Sebi late last month, prior to which she has held various senior positions in a number of departments including those dealing with FIIs, investigations, primary markets and intermediaries.

Anand Trivedi appointed as Director of MMTC

State-owned trading company MMTC said Anand Trivedi has been appointed as Director, Marketing. He took charge on July 3, after the incumbent H S Mann retired in July last year. "Anand Trivedi, ex-Chief General Manager, in MMTC has assumed the charge of Director (Marketing), w.e.f. July 3, 2012," the company said in a BSE filing. In July last year, Additional Secretary in the Commerce Ministry Vijay Laxmi Joshi had taken over as CMD of the company, replacing Mann. She assumed the new responsibility as an additional charge till a regular CMD is appointed or until further orders, whichever is earlier. 

Bhattacharya appointed as director, UBI

The government has appointed A Bhattacharya as the Director of the Union Bank of India with immediate effect. "Union Bank of India has informed BSE that the central government...has nominated A Bhattacharya, joint secretary, Department of Financial Services, as Director of Union Bank of India in place of Rajesh Khullar, with immediate effect and until further order," the bank said in a BSE filing.

Nagendra Murthy appointed MD of TMB

TMB has promoted one of its general managers as managing director and CEO effective July 3, the first time in many years that the 90-year-old private sector bank has elevated an existing employee to the top post.  Nagendra Murthy, GM (Credit) of the bank, has been named the new MD. The vacancy was left open after AK Jagannathan quit in February, ending a one-and-a-half-year stint. Three outsiders were in race for the post. Murthy started his career as a probationary officer in Indian Bank, Mumbai, in 1973. The bank, headquartered in Tamil Nadu's coastal town of Tuticorin, is a stronghold of the Nadar community who have a fierce sense of ownership of the bank. It has been in the news often for a longstanding ownership tussle. 

K N Srivastava TO BE APPOINTED NEW SECRETARY CIVIL AVIATION

Senior IAS officer K N Srivastava will be the new secretary in the Ministry of Civil Aviation after incumbent S N A Zaidi retires this month-end.  Srivastava, a 1978 batch officer of Karnataka cadre, is currently Special Secretary and Financial Adviser in the Ministry of External Affairs. The Appointments Committee of the Cabinet (ACC) has also approved the appointment of Arvind Mayaram, a 1978 batch IAS officer of Rajasthan cadre, presently Special Secretary, and Financial Adviser, Department of Rural Development, Ministry of Rural Development as Secretary, Department of Economic Affairs, Ministry of Finance. 

Dr. Arvind Lal, CMD, Dr. Lal Pathlab

TE: Tell us something about your business: 
DR. ARVIND LAL: This pathology laboratory was started by my late father, Dr. (Major) S. K. Lal in 1949. I took over the lab after he died in 1977, till then I was a Lecturer in Pathology & Microbiology, Armed Forces Medical College, Pune. At that time we were testing about 30 patients every day. Now the number of patients has risen to 22,000 per day! This has been made possible due to the fact that we are running about 100 laboratories and about 1,000 collection centres all over India. We have also recently operationalised Asia's biggest lab at Rohini, New Delhi. We employ about 2,500 people including 110 pathologists. This rapid advancement in our testing facilities has been made possible due to the fact that modern medicine is absolutely evidence based and that lab tests are responsible for 70% of all medical decisions. 
TE: Being a successful entrepreneur, what does the term achievement mean to you?
DR. ARVIND LAL: Achievement means that hard work begets success. At the same time it means that there is a lot more to be achieved given the fact that majority of our countrymen do not have access to quality clinical testing facilities. As 'Life Style' diseases like Diabetes, High Blood Pressure, Heart Disease, Obesity, Cancer, Kidney and Liver diseases are going to be rampant and will account for majority of deaths in the future, my work has just begun. I consider it my divine duty to save as many lives as possible by carrying out preventive health testing. Any abnormality detected at our level has a very high degree of possibility of complete reversal. In other words, timely testing and altering of bad life styles will make a much healthier and of course, prosperous India. 
TE: Who has been your inspiration in reaching such heights in your career? Do you have a role model? 
DR. ARVIND LAL: I have greatly been influenced by my late Guru  Baba Hairakhan also known as the Mahavatar Baba or the Immortal Baba. He taught me that the fastest path to godliness in Kalayuga was by practicing 'Karmayoga and Japayoga'. This means doing one's duty and constantly chanting the gods' name. My role model would be late Sardar Vallabhbhai Patel who reunited India after the departure of the British. 
TE: What is your special message for the youth of today who wish to be successful entrepreneurs like you?
DR. ARVIND LAL: My special message to the youth would be to dream high and aim higher. Also, to have a laser focus on your goals and to use only the highest ethics and morality in achieving your goals. 
TE: Your marketing strategy and intended goal?
DR. ARVIND LAL: My marketing strategy would be to give the patient best possible service in addition to giving him the most accurate report possible. He should always have a pleasant experience whenever he visits any of our labs or collection centres. 
TE: They say that success is a combination of inspiration, perspiration and an element of luck. What is your take on that? 
DR. ARVIND LAL: It is 99% perspiration and 1% inspiration and luck. To learn from your mistakes. 
TE: How do you see yourself two years down the line?
DR. ARVIND LAL: I see myself slightly older, hopefully wiser and a better human being!

ON PERSONAL FRONT:

What do you do for relaxation from your hectic schedule?
Half and hour of morning prayers followed by one hour of brisk walking in the Deer Park, Hauz Khaz with my wife, Dr. Vandana Lal.
Tell us about your hobbies/interest and how you manage your time to pursue them.
My interest is in security matters that confront our country. I am fairly knowledgeable about strategic matters and have a good knowledge of modern weapons systems. I can tell about the missiles and nuclear warheads that will be used in case of the World War III. Also, I am an ardent photographer and love to shoot people and landscapes. I can shoot pictures and read whenever I go on holiday.
Which city would you choose to visit for a leisure trip?
I am most happy when I visit Ranikhet! It is so close to snow clad mountains and is 'Dev Bhumi'  a natural place to meditate. 
One thing that you wish to do for the betterment of the society.
Banishing illness and making a healthier and a happier society. 
Do you think that every citizen needs to show his concern for the country in whichever way he/she can? Do small contributions like this go a long way?
Yes, I do believe that a contribution, however small, can make a significant change in the outcome of events. A case in point would be the movement led by Anna Hazare. If all the people of India said NO to corruption, then India would truly get rid of corruption one day. 

We regard employees as the most important asset

Mr. S.P. SINGH, DIRECTOR (HUMAN RESOURCE) of NTPC  has performed a very vital role in the success of the company as a true leader. His HR policies has been always conducive to the growth of employees as well as the Company. In an interview with Today's Economics, he says HRM is a relevant term for NTPC, as it has helped the company to conduct business and achieve the organizational goals by adopting better HR practices. Excerpts from an interview:-

TE: How important is an employee to your organization?
NTPC: An employee to our organization is the most important asset. We value both our employees and their family,  and strive to keep them happy by catering to their professional and personal needs.
TE: What is your HR strategy to integrate HR practices with organization's vision and synchronize its efforts with organisational goals?
NTPC: Our HR policies have always aimed at facilitating the vision and goals of the organization. HR today is moving from the role of a facilitator to a Strategic Business Partner. 
Our HR policies and practices have a sharp focus on productivity improvement. At the beginning of our journey we operated with PLF of about 80% and now we have graduated to above 90% at all locations. This has been possible through various innovative skill development practices in Operation and maintenance. From a Man-megawatt ratio of above 1 we have brought it down to less than 0.71 and in the coming years we are looking at meeting the international benchmark of less than 0.3 Man-megawatt Ratio. Such development is a result of the policies and practices that evolved with the changing market scenario and the integration of our HR  policies with the vision of the company to be the world's best and the largest power producer.
TE: Retention and Attrition both now a days has become a crucial part of HR management. What are your policies to retain employees?
NTPC: Although the rate of Attrition at NTPC is less than 1% which may not be taken as alarming. However, we are putting best efforts to make are locations more attractive as a place of posting by providing urban facilities at such location. We have been taking regular feedback from our employees through the system of annual surveys on various policies and practices of the company to closely monitor the employee satisfaction with the same. Recently our CMD has also announced introduction of certain urban facilities such as wifi, DTH and e-book readers  at projects to make them more attractive as a place of posting . The requirement for this urban facility addition was also collected through survey of the employees who have joined NTPC in the last 4-5 years to cater to the requirement of Gen Y! 
Through initiatives such as QC, PC and NOCET we have involved employees in decision making process for further improvement in productivity and planning the future course of the company. Through different participative forums we have built a culture of participative management. Our welfare measures and other HR policies are the best ranked amongst PSUs and it is the result of this that we have been able to continuously attract the right kind of talent to meet our Human Resource requirement. We provide ample opportunities to our employees to learn and grow in the organization through our Sponsorship programmes for M. Tech and MBA, facility for study leave and Financial Incentive for higher education. Our compensation structure is best in class while the Medical Facility both while in service and the Post Retirement Medical Scheme(PRMS) has proved to be our USP.
TE: How does better HR policies helps in achieving efficiency and better results?        
We have an exhaustive Reward and Recognition Policy to identify and suitably reward the exemplary performance of employees on various occasions by the Business Unit  Heads. Even at the time of training of fresh recruits the Executive Trainees are rewarded for their outstanding performance in the training period. 
Employees who are awarded at national level forums such as Prime Minister's Shram Awards are felicitated personally by the CMD and the same is telecast live through cable TV and circulated through our electronic house journal e-varta at all projects giving their achievements wider recognition.  At projects the BUH felicitate the achievers and exceptional performers on occasions such as Republic Day and Independence Day celebration applauding their achievements in public.
Our compensation package is amongst the best in industry . We have the practice of completing at least 7 mandays of training  per employee per year as per his TNA( Training Need Analysis). Platforms such as HRD Meets, QC, PC and NOCET are provided to employees for sharing of best practices in various areas, both within and outside the company. Our Policy on transfer and job-rotation also aims at placing the right man at the right time on the right job by mutually looking at both the company's requirement and the employee's interests and career growth plans. All these policies and practices significantly motivate our employees to raise their efficiency and put in more than 100% effort in the interest of the company.
TE: What are the general HR policies of NTPC?
In the last three decades and a half we have formulated policies for every aspect of Human Resource management, from compensation to welfare and from Employee relation to Employee Development. We have a comprehensive performance appraisal system on the ERP platform that also takes care of the timely communication of score and performance. 
Our welfare policies aim at gainfully engaging not only the employee but also their children and spouses. We have a well developed Communication matrix to ensure timely communication both from Top- to- bottom and Bottom- to- top. Through our participative foras we try to involve the employees in the decision making process which also inculcates in them a feeling of belongingness to the organization. We have policies to engage our employees in creative and innovative thinking through programmes like NOCET, Business Minds, Suggestion Scheme, Professional Circles and Quality Circles.The reward and recognition system of NTPC is designed to identify and suitably reward special achievements and extraordinary efforts.
TE: What is your company's approach towards people's Management?
NTPC: As I said earlier, employees are our most important assets and their needs & interests are a matter of top priority for us. Our approach from the very beginning has been that of “People before PLF”.
TE: You have wide experience as head (HR) of Government company (NTPC). What is your experience?
NTPC: As Head of the HR function in an organization of the stature of NTPC, where the company has a diversified portfolio and ambitious expansion plans, one has to handle issues in the most sensitive manner. There are over 2500 employees spread across the country coming from varied background and it is a huge responsibility to cater to their needs and aspirations.
TE: How much do HR policies enhances the employee's confidence?
The attrition rate of less than 1% speaks volumes about our employees' confidence in the company and HR policies have a vital role in maintaining that position of the company in the employee's mind.  As a fresher what one perceives of a company is mostly due to what he has heard of the company in the market and through interactions he may have had  with the various stakeholders at various occasions; what holds him back and motivates him to plan his career growth within the company is the policy of the company. 
HR policies play a vital role in keeping the employee engaged and motivate. Our HR policies and practices aim at making the employee feel valued, cared for and recognized for their efforts and initiatives. All this tremendously enhance the employees' confidence in the organization.. 
TE: What are the challenges of HR Management in the era of globalization and how do you plan to face them?
With the kind of changes taking place in the areas of Fuel costs and logistics, introduction of Tariff bidding in the power sector the aspirations of our stakeholders have also increased. Our challenge today is to keep our remote location projects as Attractive as any urban city and prepare leaders for the future. We are in the constant process of succession planning to build a strong and continuous leadership pipeline.  We have also put in a lot of effort to increase the welfare activities both for the employees and their families. We are looking at avenues to gainfully engage the spouses of the employees in our welfare activities. Sports and cultural meets to involve the wards of the employees are being undertaken. Social Security Benefits are being improved by charting out our own Pension scheme. The health of  our employees is also of utmost important for us and providing best medical facilities near our project location is also an issue that has attracted our attention time and again. We are in various stages of talks with consulting agencies to bring up super specialty medical facilities in alliance with the experts in healthcare. The road ahead is indeed challenging but let me assure you that my HR team is well prepared to face these challenges.

Banking sector works best in stable economic environment

Our share in International Finance is negligible and hybrid instruments that lead the Financial Crisis in Developed World never entered our Banking Sector. However, recession in Developed Countries may impact Banking Sector through reversals in capital inflows and adverse market expectations causing sharp correction in asset prices and exchange rate pressures, says, Field General Manager (Northern Zone), D.S. Tripathi in an interview with Tarun Bhardwaj

TE: What is your assessment of the current situation?
There are increasing concerns about the recovery in the advanced economies losing momentum, High energy and commodity prices appears to be feeding into a negative cycle of persistent unemployment and depressed housing prices in US, while the prospect of sovereign default and its real and financial consequences dominates the European policy discussion. The situation can be identified with lack of decisiveness on the part of the Developed World and dearth of initiatives from Emerging Economies to play a larger role in world Economy.
It may also be observed that in the rapidly globalizing world, decoupling is not working. Hence, Emerging Markets can not remain Unscathed from the downturn in Developed world because of better macroeconomic policies, robust foreign exchange reserves and resilient financial flows. Therefore, it is necessary that global imbalances are redressed through global coordination for the sake of Global stability.
TE:  Is the Developed World staring at a lost decade?
The last decade about rise of Chindia or more widely emerging markets in the world of Trade & Finance. It was a period of great convergence between Developed and Emerging Economies. The  IMF forecast that Emerging Economies will continue to expand and growth will be four percentage points more than Developed World in next two years. The economic power is moving from West and rich world has to share their privileges with us. I believe that re-balancing of World Economy in natural course of event is a win-win for everyone.
TE:  Has the crisis arisen because we did not deal with the 2008 crisis well?
I feel that except the liquidity bottlenecks for short duration, India remain insulated from 2008 financial crisis. The 2008 crisis started from the rich world Financial Sector, which was protected by Public Sector through huge debt adversely affecting the country's own repayment capacity by 2011. The volatility and recessionary momentum in Developed countries is creating negativity in the ability of the Emerging Economies to sustain growth momentum, which is affecting one and all. However, Reserve Bank is doing excellent work of managing the Indian Financial Sector to lessen the pains of Global Slowdown.
TE: Did the quick rebound in the financial market led to this complacency with regards to reforms?
The financial market rebound was on high investor and business confidence based on the strength of Indian Economy. The fundamentals of the economy are still good but rising prices of commodities and energy along with inflationary pressures has evoked some concerns about sustainability of growth. RBI through pro- active management is introducing fresh reforms in Indian Financial Market at regular interval. One  among many reforms initiated by RBI includes introduction of Bank Holding Company Structure, Convergence of Indian Accounting Standards with International Financial Reporting Standards, Licensing of New Banks in the Private Sector, Presence of Foreign Banks in India, Financial Inclusion etc.
TE: What could be the impact of this crisis on emerging economies like India?
Banking Sector is concerned about the macroeconomic, price and financial stability of Indian Market being jeopardized by the Global Crisis. With growth stalled in the advanced economies, external demand is slowing and affecting the exports of country. The crisis is permeating to our country through risk aversion and volatility in capital stoking inflationary pressures in the country and complicating macroeconomic management in the face of slowing growth. The area  of concern for banks is increase in credit risks due to deterioration in asset quality and resultant impairment of capital. 
TE:  What are the areas that India needs to act upon to bolster growth?
Any policy and strategy for sustainable growth have to be welfare-oriented placing the well-being of quality of life of the key stakeholders - individuals of households at the centre of strategic thinking. For sustainable growth, we have to improve quality and affordability of education along with inculcation of ethics in our human capital, improve agriculture productivity, storage and distribution network to have self sufficiency in food, remove bottlenecks in infrastructure development and support Financial Sector for all-inclusive intermediation. Further, we need the developed world, the emerging markets along with multilateral institutions to make all- out efforts to do what it takes to pull back the Global Economy from the brink of collapse and set it on the path of recovery.