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Quick Update For NRIs, PIOs
Read by NRIs in over 37 Countries
Issue No. 204 Evening Edition IST
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Headline News in this issue:
TCS to hire around 6,000 people overseas in FY 12
Kanimozhi, Raja, DMK TV chief got 200 cr bribe from DB: CBI
US sees ISI as a terror group: New Wiki leaks
Phaneesh Murthy : From Failure To Success
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TCS to hire around 6,000 people overseas in FY 12
MUMBAI: TCS, the country's largest software maker, today said it expects to hire 6,000 employees overseas, which is ten per cent of the total 60,000 people it plans to recruit this fiscal.
"The overseas hiring will be similar to the 10 per cent which we have done earlier," TCS Global HR Head Ajoyendra Mukherjee, told PTI.
He, however, added that the Tata Group company is yet to firm up a detailed plan on overseas hiring and will do so soon.
The announcement comes in the wake of outsourcing and the ensuing flight of jobs to cheap labour countries like India becoming a contentious issue in the developed world.
TCS hires people overseas based on merit depending on the job requirements, such as knowledge of the local language which is essential for certain projects in Latin America, he said, adding that non-Indians constitute 6.95 per cent of the company's total employee strength of over 1.98 lakh.
The company, which has declared an annual pay hike between 12-14 per cent to its off-shore employees in India, is expecting to maintain operating margins at 28 per cent in FY 12.
(For more details, visit: http://economictimes.indiatimes.com/news/news-by-industry/jobs/tcs-to-hire-around-6000-people-overseas-in-fy-12/articleshow/8081514.cms)
Kanimozhi, Raja, DMK TV chief got 200 cr bribe from DB: CBI
FROM 2G TO CWG, TIHAR HAS NEVER HOSTED SO MANY POWERFUL BUSINESS TYCOONS, POLITICIANS Three Businessmen Charged For Payoff
New Delhi: Tamil Nadu’s first family is now officially in serious trouble. On Monday, the CBI charged Kanimozhi, DMK supremo M Karunanidhi's 43-yearold daughter, of conspiring with former communications minister A Raja (of DMK) to receive a bribe of Rs 200 crore from Mumbai-based DB Group in return for granting 2G spectrum and licence to DB’s Swan Telecom. This money was routed to DMK’s Kalaignar TV, the CBI has said in its second chargesheet.
Kanimozhi along with Kalaignar TV CEO and co-promoter Sharad Kumar, Cineyug Films’ Karim Morani and DB Group’s Asif Balwa and Rajiv B Agarwal have been named in the chargesheet for conspiracy and under the Prevention of Corruption Act.
While Asif Balwa and Agarwal were arrested on March 29, Kanimozhi, Kumar and Morani have been asked to appear before the special 2G scam court on May 6.
The odds are that they will be arrested that day. Accepting the chargesheet, the court ominously pronounced: “There is enough incriminating material on record” to proceed against the accused.
(For more details, visit: http://epaper.timesofindia.com/Default/Client.asp?Daily=TOIM&showST=true&login=default&pub=TOI&Enter=true&Skin=TOINEW&GZ=T)
US sees ISI as a terror group: New Wiki leaks
Washington: One of the world’s worst kept secrets is now out in the open. American authorities listed Pakistan’s spy outfit, the Inter-Services Intelligence (ISI) Directorate, as a terrorist organization alongside 36 groups including al-Qaida, Hamas, Hezbollah and Iranian intelligence, according to a new set of WikiLeaks cables pertaining to detainees held at the prison in Guantanamo Bay, Cuba.
The disclosure, which comes soon after the highest ranking US military official Mike Mullen openly accused the ISI of ties with terror outfits like the Haqqani group in Islamabad last week, confirms what has long been the scuttlebutt in the world: Pakistan’s spy agency has earned a terror tag in all but formal designation.
According to the cables, US interrogators were told to regard detainees’ links to 36 organizations, including the ISI, as a sign of terror activity. Recently, David Headley and Tahawwur Rana, Pakistani expats who helped scout targets for the 26/11 carnage, admitted they undertook the mission at the behest of the ISI.
The US mainstream media largely ignored the revelation, but it was highlighted by the UK newspaper Guardian. “The inclusion of association with the ISI as a ‘threat indicator’ is likely to pour fuel on the flames of Washington’s already strained relationship with its key regional ally,” the paper observed, adding that “a number of the detainee files contain references... to the ISI supporting, coordinating and protecting insurgents fighting coalition forces in Afghanistan, or even assisting al-Qaida.”
(For more details, visit: http://epaper.timesofindia.com/Default/Client.asp?Daily=TOIM&showST=true&login=default&pub=TOI&Enter=true&Skin=TOINEW&GZ=T)
Phaneesh Murthy President and CEO, iGate, and former director, Infosys
“Glory is in rising every time we fall”
When I failed:
It [a lawsuit filed against him and Infosys, alleging wrongful termination and sexual harassment of a female employee in the US] was a big setback, nothing short of being to the hell—and back.
Imagine people judging you before knowing. What worse can happen to you, especially when you come from a middle-class conservative family? For about two months I considered myself a victim.
I slipped into a deep whining syndrome. Lots of people told me that I should retire. The moment that shook me out of this state was the visit of a close friend who told me: “Phaneesh, what are you doing? You are a tiger, go out there and prove it to the world.”
What I learnt:
His words taught me: It's only when we fall that we come to know who we really are and if we are strong enough to rise again. I am glad I had what it took to recover and rise. I wouldn’t have been able to pull this through but for my wife’s support. She knows me the best and there was no wavering in her support.
How it helped me succeed:
I had done no wrong. I was confident of setting up a business and found immediate support for it. People had seen me build Infosys globally. They were confident of my capabilities, but the fund-raising got stuck on one point—my reluctance for an out-of-court settlement. People willing to fund my venture wanted the case closed at the earliest.
I understood their demand. When you are starting something, even 100% attention does not guarantee success. With the case on, funders thought I wouldn’t be able to give my 100% attention. I accepted their advice and agreed for an out of coure settlement.
After the incident, every year I do one extreme thing, like cliff jumping. It makes me tougher and more confident. My HR department is also very protective of me. I rarely close the door of my cabin and all our office cabins are made of see-through glass.
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Investment & Wealth Creation Advice (Some Golden Rules)
Please note that our advice is primarily for investors and not for speculators. Investors typically invest with a 12-60 month investment perspective. You will therefore find that our advice does not change substantially from issue to issue. However, it is worth reading it again and again to get your investments on the right tracks as what we have stated below is based on some golden rules of investing.
Indian nationals & PIOs can expect about 15-25% returns year-on-year
Indian capital markets have been thrown open to individual foreign investors in the budget announced recently. Now, PIOs can also invest in Indian Mutual Funds (MFs).
Indian Investors can expect 15-25% returns year-on-year if they invest in MFs which are rated 5-star by rating agencies. It would mean, NRIs, PIOs as well as Resident Indians will be able to double their investments in MFs every 3-4 years, taking almost no risk. So, India offers a great investment opportunity.
NRI.NewsIndia recommends investment in Indian Mutual Funds taking the SIP(Systematic Investment Plan) route. An individual investor may like to schedule weekly or monthly investments in select mutual funds from now onwards.
Kaun Banega Karodpati?
Only Rs. 2,000 per month invested in a 5-star rated mutual fund in India for 30 years, will make you a Karodpati. Most of you can easily do this much investment in your name and/or in the name of each family member.
NRI.NewsIndia Recommends investment in the following Mutual Funds:
1. HDFC Equity Fund
2. Franklin India Blue Chip Fund
3. Birla Sunlife Frontline Equity Fund – Plan A
4. DSP Blackrock Equity Fund – Dividend
5. HDFC Top 200
6. ICICI Prudential Dynamic Plan
7. HDFC Prudence Fund
Do not purchase shares of a good company at a wrong (high) price. Also, do not purchase shares of a bad company even at a very low price.
Do not put all your eggs in one basket. Diversify your portfolio to de-risk. Do not put more than 33% of your investible funds in stocks and/or mutual funds. Put 33% in Fixed-Interest instruments and the remaining 33% in real estate when real estate prices are low.
Do not invest more than 15% of your investment in any one mutual fund, stock or sector.
NRIs & PIOs should not keep all their money in just one country. Keep 20-33% in nationalized banks in India or in private banks like HDFC, ICICI, HSBC etc.
As actors & sportsmen can never be sure about their earnings after 5-10 years, they should invest 50% of their earnings every month in Fixed Deposits, Mutual Funds and Real Estate.
If you suddenly get a few lakhs or a few crores, do not invest the sum in a hurry. Park it in a Fixed Deposit for a couple of quarters. Consult one or two investment advisors and then invest the amount in a proper manner.
Never go by your gut feel or a freind's advice when it comes to investing your money. Always consult one or two investment advisors before you make your investments.
Do not invest in stocks, mutual funds or realty when their prices are quite high. From the high levels, these prices normally come down by about 20-40% and that is when many people lose their hard earned money in a big way. Make sure that you are not one of those big losers.
Also, never take any loan to invest in stocks or mutual funds.
For a FREE First Consultation before investing in Mutual Funds in India, write to psm@amsoftconsulting.com.
Disclaimer: Please make all your investments after taking expert advice. NRI.NewsIndia will not be responsible for losses, if any, incurred by you. Through NRI.NewsIndia, we are only making you aware of the investment opportunities in India at a broad level.
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