Why we are obsessed with money

What a way to exist!

For most of us, practically the whole day all we are thinking is about money and more specifically how to have more money!

As if money was the only thing in life. Unfortunately for most of us, circumstances just do not permit any other thought!

We are running behind money most of the time which is almost akin to have become obsessed with money. Everything that we are doing in life is centred around money.

Unfortunately, this is because we need money for anything and everything that we do. There’s nothing wrong and what are you doing, however the problem is that over time, it becomes a compulsive habit to keep earning more.

That’s where the danger is. The problem is that there is a point where from we chase money as an addiction, we chase money because we like to do so. If we did not chase money we would not know what to chase now because we get out identity from money and the amount of money we have.

Another thing is that right from childhood we are always taught and our minds are conditioned that everything that we are doing is going to be for the sake of earning money.

There is no one who told you that money is just a means, and then there is something greater in life to achieve. Some examples are legacy; building something, charity; to giving something / helping someone, passion; pursuing something and living; simply to enjoy life and your money

We have got addicted to this and how!

There are three reasons for this:

First, we are what we do. It is the human behaviour. I know I should exercise and I don’t. I know I should eat healthy and I don’t. I know I should spend time with my kids and I don’t. I know that, yes, money isn’t going to make me happy and I still keep trying to make money.

We live by the laws of inertia, in a pattern which is hard to break. But we have to break it. For ourselves and for the sake of people and reasons for which we are chasing money.

Secondly, we need signals of progress. Money is a measure of how far you have progressed in life. The more the money you have the more you can make sure your progress. It’s simply the logic of evolution. People need validation of their success. Bigger house, bigger car, branded goods and list goes on.

Thirdly, it’s the easy way out. It’s only human to avoid difficult things. Important things are very difficult to measure.  Have I been a good father or husband? Have I groomed my child well?  Such things take years to measure and we still don’t have answers.

So, should we not be focused on creating money for ourselves?

I’m not saying that. Definitely create. Take care of yourself for sure!! Use it to the maximum to make yourself happy!!! You need a certain amount and beyond that is extra.

The definition of their certain amount is naturally different from one person to another. If that extra is going to happen easily, without stress and without your involvement, then its fine. Basically don’t kill yourself for that extra. Be Smart.

Kartik Jhaveri is an expert at planning money, life and aspirations. He is a certified financial planner, wealth manager and financial freedom coach.

How the RBI actually helps you


Most of us in Mumbai, see this huge structure called the Reserve Bank of India and wonder what it really does. It’s also a tourist attraction!! It has so many other offices and again one wonders why they need to have so many offices. I’m going to try and highlight a very interesting part of RBI’s work and how it helps us directly on a day-to-day basis.

The RBI does a review of the monetary policy of the country at frequent intervals during the year. So how does the monetary policy help us investors to take smart decisions?

Monetary policy is a tool by which the RBI decides to raise interest rates or reduce interest rates or keep them steady.

In our country, as we’re an oil importing nation, this decision is very closely linked to Oil. Oil to a large extent contributes to inflation. We all know what happens when inflation keeps rising. We in India unfortunately do not see too much of inflation falling and things becoming cheaper.

Oil is Not Well

So when oil prices rise i.e. we see a rise in crude oil prices almost instantly we can expect rising food prices. This is because there is going to be a rising cost pressure for manufacturing & services. This rise obviously gets passed onto the retail consumers.

When this happens RBI adopts a hawkish stance, tries to pull money out of the system by raising interest rates. Now when interest rates rise no one seems to be interested in borrowing. This immediately puts a brakes on money circulation.  Less money chasing goods decreases the demand for money. This way it controls inflation.

There is yet another tool that the RBI has and that is known as the CRR or the cash reserve ratio.  This ratio in simple words means the amount of cash that the bank must maintain with the RBI as the percentage of the total assets. So when this increases banks are forced to park more with the RBI and this is also a way to control inflation.

On the other hand when things look dull, when there is a recession of sorts, the RBI comes to the rescue and gets into action to kickstart growth in the country. It does this by lowering the interest rates. This we all will understand quite easily because we see a direct benefit of this happening. We see a fall of interest outgo in our EMI’s for the home loan that we are carrying. New loans become cheaper.

Individuals are motivated to go out and make purchases, whether it is for a washing machine or a piece of real estate. Businesses are motivated to go out and borrow to buy more machinery, to expand capacity, to hire more staff and manpower and basically do everything that will add to the growth of business.

Economic growth results as a result of all this. It is also during this time that stock market rises, we see a rally in stock prices and mutual fund NAV’s jumping higher and higher each day. There is prosperity all around.

Critical Role

As you can see that the central bank of the country has a very very important role to play.  If it makes a mistake, things can go really wrong.  Imagine like the USA or Japan if our interest rates were very low; everyone would run to borrow, they would borrow more than they require because it would be cheap and easy to borrow. And that is very individuals would run into what is known as the debt trap, because someday you’ll have to pay back.

Each day the central bank attempts to make sure that everything in our country remains stable and financially there’s nothing that goes wrong dramatically.

Kartik Jhaveri is an expert at planning money, life and aspirations. He is a Certified Financial Planner, Wealth Manager & Financial Freedom Coach.

The year of the bond, once again!

We are not talking of James Bond, we are talking of investment bonds.

We are in a situation where the fixed deposit rates are at a general low and there is a lot of discontent among depositors of fixed deposits.

Whenever we see a situation like this, one way or the other, the bond markets come to the rescue. It comes to the rescue of smart depositors, who are agile to move their money from fixed deposits to bond funds.

Let’s understand what is happening and why.

What Exactly is Happening in the Bond Markets?

It is likely that in this year, investors of bond funds will make handsome gains. Bond prices may rise and there may be capital gains. Investors of bond funds not only earn the rate of interest, but also earn capital gains. So that way, they make more than the return they would make on fixed deposits. The returns could be a high single digit or sometimes as high as double digits.

Over three years, this will become practically tax free or the tax would be a very small amount. So, basically, I am thinking that a rally will happen in the bond market. There are three main reasons for this — reduction in government borrowing (which is favourable), recovery of trading losses (which is favourable) and no change in monetary policy (which is neutral).

A word of caution, however, that such bond market investments are also subject to bond-market volatility and should be considered ideally with the help of a financial expert.

Before proceeding further, let us, therefore, quickly explain a bond, bond fund and bond market. We need to do this because few people understand the bond markets and even fewer invest in the bond markets.

Bond is nothing, but a commercial transaction where the borrower is issuing a bond to the lender and the lender will earn a certain rate of interest. When interest rates fall, everyone becomes interested in owning that bond.

As a result, the demand for the bond increases, the price of the bond increases and the bondholder makes capital gains.

A bond fund is a fund where ordinary investors pool in their money and a fund manager buys them a portfolio of bonds.

Moving onto the Reasons For a Rally in Bond Funds…

Now, the fundamental reason for a rally is reduction in interest rates as it stimulates economy and growth.

Firstly, the government is a massive borrower of funds. So a reduction in government borrowing reduces the demand for money in the economy. As a result, prices of bonds rise and this contributes to capital gains for bond holders.

Secondly, the Reserve Bank of India (RBI) recently announced that the commercial banks and RBI, which are the largest lenders to the government, will have another year to offset losses they have incurred on account of buying government bonds in the past. This action will lead to a rise in the price of bonds and this contributes to capital gains for bond holders.

Lastly, on one side due to the rise in oil prices, there is more inflation and thus more money is needed for circulation in the economy. On the other side, many government bonds are maturing, which will provide money supply. So, it is likely that we see a neutralising effect and thus RBI will take no action. This inaction here will support capital gains as explained above. Hence, this year might be a year of good gains for the bond investors.

Kartik Jhaveri is an expert at planning money, life and aspirations. He is a Certified Financial Planner, Wealth Manager & Financial Freedom Coach.

Five new financial goals for you this summer

I am going to try and explain to you why the summer holidays of April and May are great months to get a lot of things started, financially speaking.

This time period in a way resets the financial clock. You also have the option to hit the reset button on everything you have done so far; financially speaking of course and hope to do better things better than you did last year.

Let’s look at some of the new and unusual things to do in April.

  • Make a learning budget

Learn something about money or anything you like. The best way to make money is to learn something about money. Just like if you wanted to learn cooking you will get into the cooking class. If you wanted to learn swimming you would enrol in the swimming class. If you find learning about money is too daunting task than learn something which is close at to your heart or related to your work. If you learn something new, there’s a possibility that you will use your new ideas to generate new income and in turn that will generate new wealth for you.  So make a budget, enrol somewhere and spend that budget. How about a % of your annual income? Spend it for sure!

  • Plan a unique holiday 

When you’re by yourself and without your mobile phone you will have the opportunity to think! When you have time to think, suddenly good ideas will come to your mind.  You may think this is silly but you can be sure that you will be amazed if your drivers experiment just once. So it might be a good idea to go for a holiday just by yourself. If you find that too intimidating, join a group of strangers. You can combine that with the adventures experience if you like.  Be extra careful if you’re going with your special buddies. Do this only if they are going to be in a position to help you discuss your idea and make it bigger. They must play the role of complimenting your thoughts. So make a schedule to do this holiday and obviously make a budget to make it happen. Think & create new ways of making wealth.

  • Make a prediction and make it happen

Be brave. Let’s aim to grow and multiply net worth by 50% by the time you come to the end of this financial year. This is not a joke and it is easier than you can imagine.  I’m speaking about NETWORTH and I’m not talking about return on investment. If your networth is Rs. 100 today, all I’m saying is that let’s aim to make this a 150 by the end of this year. This networth comprises of all your savings till date. This can be achieved by simply saving aggressively every month for the next twelve months. Just put this into a recurring deposit or liquid fund so you don’t spend it.  We just have to prove to ourselves that this is possible. Where and how we will invest this money will think about that later.

  • Eliminate a negative belief 

I want to give you an exercise here. Write down all your negative beliefs you have about money and wealth. Most people are not able to achieve the desired level of wealth because they think about wealth negatively. So even if you are earning a good amount of income you will never see yourself becoming wealthy. Examples are money causes problems, money causes a fight, managing money is complicated etc. Then for each negative thought, you have written down the positives i.e. the opposite for a few months. Soon negatively biased feelings will evaporate.

  • Make a new investment; something you have not done before

Again here you do not have to be a financial expert. The idea is to learn something new. There are hundreds of investment options. Our objective here is to learn something new. Talk to your advisor and seek his or her guidance. Just a word of caution here; don’t do anything which is speculative or is something that you just can’t understand. Do what do find easy you understand and do that then.

Kartik Jhaveri is an expert at planning money, life and aspirations. He is a Certified Financial Planner, Wealth Manager & Financial Freedom Coach.

Seeking financial freedom? The time is NOW!

John Lewis famously remarked, “If not now, then when? If not us, then who?” This is so appropriate in the current financial world that we live in.

That statement will leave to rest every other argument that is conservative and against the idea of wealth creation. We are often faced with the situation where there is no option but to create wealth. Read on to know why!

Interest rates are painfully low. For all those diehard fans of guaranteed investment returns, there’s hardly any place to go to. Thinking of fixed deposits? Feeling happy with 7%? And fully taxable? That period is over. Period.

That doctrine of investing into pure fixed deposits and similar instruments is unfortunately standing challenged. There is no option but to sprinkle it with a combination of a little something that will add to the returns earned from fixed income type of securities. In fact this category of investors are in a way, best placed in terms of the current tax laws.

They can earn about 9-10% with minimal or near zero tax over about five years and more. Starting to generate rate of return above the inflation level of 7% is starting to create wealth. So there it is; there is no option but to move in the direction of creating wealth.

For more evolved investors, who invest in equities and who and still sitting on the sidelines tend to run out of patience every now and then. They are sometimes waiting for the right time, sometimes waiting for correction, sometimes waiting for valuation and sometimes waiting for just nothing. Sometimes, just too busy to take action!

I totally understand not wanting to lose hard-earned money. But if the money does not move it will stagnate. That’s the problem with money.

Hit the Ground Running

Inaction and inactivity kills it. Makes it costly to hold. Makes us lose opportunities, sometimes small and sometimes significant. I know of many people including my dad, who just kept investing into equities and holding forever. No doubt they were hugely (big HUGELY) better off then the people in the same time zone. I think they could have done far better with some smart lessons on asset allocation. This is because if they compare the growth rate of their holding over a period of 20 or maybe 30 years the compounded rate of return earned is often not impressive.

It is just marginally better or a few percentage points above the fixed deposit rate. Hence the need for asset allocation, which simply put is not to have all eggs in one basket at any given point in time. These sections of investors anyways create wealth, and, asset allocation is the tool that ensures that the process of wealth creation continues uninterrupted. So again there it is; even for this section there is not option but to start enhancing their wealth creation activities, else returns will continue to remain forever mediocre.

Then there are skeptics and there is nothing much for skeptics of everything, except that they need a serious dose of financial education. Perhaps what if needed is a proof of concept and for that, which better country to live in other than India where financial transparency in investments is so high that I sometimes feel, it comes from another planet.

 Your Money Needs Action

Today, there is a whole lot of variety to choose from and we have never been more spoilt for choice. But the most important thing in all this is to understand that your money needs action. It needs activity and for that the time is now!

And furthermore, if you asked me this question 10 years ago; I would have said that, the Time is NOW. If you ask this question 10 years hence, I will still say the Time is NOW. Any time is the right time to start the process of creating wealth. All that is important is that you take your first step; then continue it all the way with zeal and determination… till you have the level of wealth that you desire. And if you accumulate more than you need, still do it and share it with the world.

If you want your financial freedom; then the Time is NOW!

Kartik Jhaveri is an expert at planning money, life and aspirations. He is a Certified Financial Planner, Wealth Manager and Financial Freedom Coach.

Young Turks: Here’s the success story of venture fund Aspada

Venture fund Aspada was co-founded by Kartik Srivatsa and Thomas Hyland in 2012 and has made 17 investments so far across Fin-tech, agriculture, health and edu-tech startups.

Young Turks takes a look at their investment thesis, their differentiated VC model and meet three of their portfolio companies – Capital Float that underwrites unsecured loans to startups and SMEs; Dunzo, a hyper local concierge and delivery player that is also Google’s first direct startup investment in India; WayCool, a Chennai-based agriculture-tech startup.

How to navigate Indian English — eight steps to get you started

Speaking the same language is far from a guarantee of understanding. As an interculturalist and interpersonal communications consultant, I am often asked to advise working with Indians… My country of birth is an intriguing and bewildering place. This is sometimes true even for people born and raised there. So, let us start with the basics. Our own brand of English also known as Hinglish (a combination of Hindi and English).

In a country where there are 23 official languages, English is often the common denominator for communicating even between Indians and it is estimated that English is spoken by more Indians than in the UK or Australia. Indian English, however, has many cultural idiosyncrasies and below are just a few examples that I hope will make you smile and also explain a few things.

The expression ‘Indian Stretchable Time’. The notion of time as being more fluid and less linear and therefore also much less stressful than in the occident. This is something that Indians intrinsically understand and that foreigners soon learn to deal with and accept, at least if they want to successfully work or live in India for an extended period.

Ever had to prepone a meeting? In my varied cultural experience, I learned English in India but also studied in both the British and American educational systems. Some peculiarities of the language were so natural that I did not even know that they were not used elsewhere. One such word is ‘preponed,’ the perfectly logical opposite to postponed. By the time a British friend pointed it out to me, I had been teaching it to my students for years so do not be surprised if you hear a French executive using ‘preponed’ with confidence!

Acronym alert! PIO, CIO, FIR:  The acronyms in our newspapers can be a perplexing whirlwind of utter nonsense. There is, of course, no rule of etiquette that says that any of these are to be explained at the first use! For the unwitting foreigner or worse the NRIlike myself, there are only two choices – Smile, and look clever, or choose to stand with the brave and ask for explanations. However, you must be aware that this is at the risk of exposing yourself to that special mixt of disdain and pity reserved for the uninitiated!

The cultural concepts: The ‘convent educated, fair girls’ to the ‘educated abroad’ there are expressions that have layers of cultural sub-meanings that would warrant an entire article dedicated to them. The Sunday matrimonial ads also have their secret code of abbreviations. The matrimonial section of the newspapers uses abbreviations because it was a system in which you paid for the ad by line or by letter and the result of this is obscure abbreviations as can be seen in this example, ‘High-status family. Match for Smart, Fair, Slim Brahmin, girl 27/5’2″ convented b’ful working in top MNC’

The mix between Hindi and English: I will be passing out of college…while passing out may be interpreted by most as a need for urgent medical assistance, this phrase has its roots in the Hindi-English expression ‘I am 10th Pass or I am 12th Pass’ (Dasavi Pass or Baravi Pass)which essentially means that the person has completed a particular level or exam.

The direct translations: The expression ‘My friend is eating my brain!’ or (Mera sar kha rahi hai) roughly means he is nagging me and ‘She is sitting on my head!’ (Sar pe baheti hai), watching me closely and therefore stressing me out… Micromanagement anyone?! Both of these expressions are direct translations and their meaning is so perfectly clear to all Hinglishspeakers that almost none would think to provide a translation.

The archaic expressions from colonial times: There are some expressions that one only hears in Indian English and although they might have been part of the mainstream language at some point they are hardly ever used abroad. “Please do the needful” and “in a jiffy” (doing something quickly) are a couple of examples.

Hindi movie with English subtitles: The strangeness, however, takes on another dimension when watching a Hindi movie with English subtitles. In general, with translations, we lose much of the cultural context but the songs or ‘Bollywood numbers’ take the concept of lost in translation to another level of absurdity. Released from their cultural moorings Bollywood songs just do not translate.

As with the food, Indian English is the spicy version and it takes a little getting used to…but once you try them you will relish them both.

Nandita Sood Perret is a communications consultant and leadership coach at CTD Cultural Insights, where she helps people and companies break through old patterns, to develop new perspectives and innovative solutions for collaboration and growth. 

Read Nandita Sood Perret’s columns here. 

MG Motor unveils its electric vehicle MG ZS EV

MG Motor has unveiled its second offering for the Indian market and this time it’s an electric vehicle. The MG ZS EV is powered by a 44.5-kilowatt-hour lithium-ion battery and gets a claimed range of 340 kilometers; all this while telling you how much carbon dioxide you are saving while you drive. The ZS EV also boasts of a slew of features and connected tech, reports Areeb Sherwani.

Sebi orders LIC, SBI, Bank of Baroda to reduce stake to below 10% in UTI AMC by December 2020


Markets regulator Sebi on Friday directed three public sector financial institutions — LIC, SBI and Bank of Baroda — to dilute their stakes to below 10 percent in UTI Asset Management Company (AMC) by December next year.

In the case of non-compliance with directions, the shareholding and voting rights of these entities in UTI AMC and UTI Trustee in excess of 9.99 percent and corporate benefits will be frozen till the time they comply with the orders.

UTI AMC is promoted by four public sector financial institutions as sponsors — State Bank of India (SBI), Life Insurance Corporation of India (LIC), Bank of Baroda (BoB) and Punjab National Bank (PNB) — with each of them presently holding 18.24 percent stake in the fund house, while private equity firm T Rowe Price International holds 26 percent stake in UTI AMC.

Sebi observed that LIC, SBI and BoB are the sponsors of LIC Mutual Fund, SBI Mutual Fund and Baroda Mutual Fund, respectively, and they also hold more than 10 percent stake each in these mutual funds.

In addition, LIC, SBI and BoB are also sponsors of UTI AMC and hold more than 10 percent stake individually in the AMC and trustee company of UTI MF.

“The noticees (LIC, SBI and BoB) are sponsors of more than one mutual fund and hold more than 10 percent shareholding in more than one AMC and trustee company and, hence, are not in compliance with the requirements of …the MF regulations,” Sebi said in an order.

Sebi amended the mutual fund regulations in March 2018, wherein a shareholder or a sponsor owning at least 10 percent stake in an AMC is not allowed to have 10 percent or more stake in another mutual fund house operating in the country.

In addition, such entities are not allowed to have a representation on the board of another mutual fund house. Entities not in compliance with the requirement was given time up to March 2019 to comply with the requirement. Besides, it was alleged that LIC and SBI had nominated directors on the board of UTI AMC.

In their reply to Sebi, they said they had nominated directors in accordance with the provisions in the shareholder agreement and further clarified that such nominees were also not their directors. It was also submitted that none of the working employees of LIC or SBI were on the board of UTI AMC or UTI Trustee and the nominated directors did not have any reporting relationship with the two companies.

Sebi said that despite the expiry of over 20 months from the date of amendment of the regulations, the three entities are yet to achieve compliance with these requirements. While they have shown that they have initiated some steps to dilute their stake in UTI AMC, the substantial compliance with the regulation “still remains pending”.

Accordingly, the regulator has said that the voting rights of LIC, SBI and BoB in UTI AMC and UTI Trustee shall be brought down below 10 percent on or before December 31, 2020. Also, they have been asked to take suitable steps to ensure compliance with regards to board composition.

“In the event of non-compliance with the aforesaid directions, the shareholding and voting rights of the noticees in UTI AMC and UTI Trustee in excess of 9.99 percent and corporate benefits thereon shall stand frozen till such time the noticees comply with the aforesaid directions,” it added.

Need for an Electronic Gold Spot Exchange in India

India’s long history and social connect with gold makes it one of the world’s largest consumers of the yellow metal. This has also led to a vibrant market for gold jewellery, employing around 500,000 craftsmen. While an entire ecosystem has developed in the country around gold, including a vibrant derivatives market, an element still missing in the gold ecosystem is an electronic spot exchange.

The idea of setting up a spot bullion exchange in India is indeed noble, given that India is the world’s largest consumer of gold. As the global gold market continues to shift from the West to the East, many Asian countries, such as Turkey, China, Singapore, and the UAE, have created excellent infrastructure for refining, storage, transport, trading, and financing of gold to meet the spurt in gold demand in the region.

This infrastructure has greatly enhanced the efficiency of the gold markets in these countries and brought about efficient price discovery, quality assurance, active retail participation, and use of gold-linked financial products instead of jewellery for investments. Under the circumstances, it is high time for India to have a robust online spot gold exchange.

Merits of a spot exchange

Price Discovery: As in the case in the derivatives market, there is increased information flow leading to efficient price discovery in an exchange-traded spot market too.

Benefits of online spot platform

  • Rule-based trading
  • Anonymous trading
  • Defined quality parameters
  • Counter-party guarantee
  • Remote market access

Reference benchmark prices

A gold spot exchange would enable widespread dissemination of spot prices, leading to transparency and a benchmark price. An exchange-traded market could also address the problem of fragmented physical markets.

The case for India Gold Fix

An online platform for gold could be utilised for creating an ‘India Gold Fix’ that would serve as a reference benchmark price to Indian stakeholders. In its absence, stakeholders often refer to the London-based LBMA Gold Fix. However, an important factor for the success and acceptability of ‘India Gold Fix’ would depend on the presence of a right mix of participants from across the value chain, such as jewellers, importers, wholesalers, and institutional players.

Lessons from international experiences

Internationally, the presence of a vibrant spot market with a derivatives market has led to product innovation and left a deep impact on the commodity value chain.

China: Shanghai Gold Exchange (SGE) offers gold leasing solutions along with gold spot trading. The availability of multiple products like spot, derivatives, and deferred delivery on the SGE platform has contributed enormously to its growth.

UAE: The Dubai Multi Commodity Centre (DMCC) and the Dubai Gold and Commodities Exchange (DGCX) provide gold derivative and spot platforms. Innovation on these platforms include the DMCC Tradeflow, a trade finance product; regional gold options trading; a Shariah-compliant hedge fund product; and the Dubai Good Delivery Standard, an international standard for 1 kg gold bars of .995 purity.

Turkey: Borsa Istanbul Precious Metal Market (BIPMM) within Borsa Istanbul is one of the most successful gold trading platforms. Market-makers and banks are not only permitted to trade, but gold held at the exchange is even allowed as part of banks’ SLR requirements.

Thus, the success of gold spot exchanges globally emphasizes the need for an existing liquid platform in India, with the participation of diverse stakeholders offering multiple products.

This is a partnered post.

In Pictures: Ayodhya after the Supreme Court verdict

Pilgrims take a stroll at the Sarayu river. Last month, the Supreme Court paved the way for the construction of a Ram Temple by a Trust at the disputed site at Ayodhya. (Photo credit: Shome Basu)
Seen here is bylanes of Ayodhya dotted with old structures as Supreme Court last month directed the Centre to allot an alternative 5-acre plot to the Sunni Waqf Board for building a new mosque at a “prominent” place in the holy town in Uttar Pradesh. (Photo credit: Shome Basu)
Banks of the Sarayu river. The apex court in a unanimous 5-0 verdict ruled that the 2.77 acres of disputed land where the demolished Babri Masjid once stood will remain with a Central government receiver and be handed over to a Trust within three months for the construction of the temple. (Photo credit: Shome Basu)
Seen here is the temple of Hanuman in Ayodhya. The disputed site in Ayodhya was occupied by the 16th-century Babri mosque which was destroyed by Hindu kar sevaks on December 6, 1992. The demolition had triggered communal riots. (Photo credit: Shome Basu)
Pilgrims take a holy dip in the Sarayu river. The verdict in the politically-sensitive Ram Janmbhoomi-Babri Masjid land dispute case, one of the most important and most anticipated judgements in India’s history, runs into 1,045-page pages. (Photo credit: Shome Basu)
Workers cleaning the banks of Sarayu river in Ayodhya. The verdict was pronounced on 14 appeals filed in the apex court against the 2010 Allahabad High Court judgment, delivered in four civil suits, that the 2.77-acre land in Ayodhya be partitioned equally among the three parties — the Sunni Waqf Board, the Nirmohi Akhara and ‘Ram Lalla’. (Photo credit: Shome Basu)
Vendors selling Ramayana, Mahabharata and other Hindu religious books at Ayodhya. The court said the extensive nature of Hindus worshipping at the outer courtyard at the disputed site has been there, and the evidence suggests the Muslims offered Friday prayers at the mosque which indicates that they had not lost possession of the site. (Photo credit: Shome Basu)
The demolished Babri Masjid site at Ayodhya. Directing allotment of alternative land to Muslims to build a new mosque, the court said the Hindus have established their case that they were in possession of outer courtyard and the UP Sunni Central Waqf Board has failed to establish its case. (Photo credit: Shome Basu)
Pilgrims walk through the streets of Ayodhya. As chief justice Gogoi read out the operative part of the verdict for 45 minutes, people belonging to both Hindu and Muslim communities in Ayodhya sat glued before Television sets, while the tech-savvy youth kept a tab on their mobiles phones. (Photo credit: Shome Basu)
Shown here are sculpted stone carvings that are expected to be used for building the Ram temple at Ayodhya. (Photo credit: Shome Basu)

Kia Motors India expects better demand by the beginning of FY21

At a time when the auto industry is battling a slowdown, announcing plant shutdowns and reporting negative retail sales, South Korean automaker Kia Motors is set to inaugurate its fully functional Anantpur facility in India, with an investment of over $ 1 billion and an installed capacity of 300,000 units each year.

Ahead of the opening, CNBC-TV18 spoke with Manohar Bhat, Vice-President, Sales, at Kia Motors, and Yong S. Kim, Chief Sales Officer and ED at Kia Motors India, to understand the company’s future plans.

The company is softening expectations in December after record November sales, and hopes to see better growth with the start of FY21. “The growth in the auto sector depends on the economic situation of the country. Once the GDP growth starts improving, we should definitely see a rise in auto demand,” Bhat said.

“So far the government has done its best to kick-start the economy and I am sure they are contemplating more actions. Hopefully, by the beginning of the next financial year, we should see better all-around growth,” he added.

Two third of the NBFC sector will find it tough to survive, says market expert Saurabh Mukherjea


In an interview to CNBC-TV18, Saurabh Mukherjea Founder of Marcellus Investment Managers, shared his reading and outlook on markets, specific stocks, and sectors.

Mukherjea expressed his concern about the current health of non-bank financial institutions. “The vast majority of our NBFCs will find it difficult to pull through this shakedown of the NBFC sector. Barring the 4 strong CASA franchises in our banking sector, others will struggle in our private sector banking sector,” he said.

Mukherjea also reiterated his concern that a majority of NBFCs will find it hard to survive going forward. “I think I said on your channel six months or so ago. Two-thirds of the NBFC sector will find it difficult to survive. They have got fundamentally unviable financial constructs. They are borrowing money in the short term, the CD market is pretty much shut to all of these players barring two or three,” he explained.

Speaking about the overall condition of markets, he said, “Given the state of the economy this is bound to happen from time to time. We really have very little fundamental support for the market, the whole thing has been riding on the government reform momentum. We haven’t had a reform announcement for a couple of weeks and Reserve Bank of India did make things a little difficult yesterday. So, this sort of pullback is to be expected.”

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

Happy 20th B’day, CNBC-TV18: It has been an incredible story of unlimited ambition

CNBC-TV18 just turned 20. While corporate India and the markets will see this number as 20 years of leadership, growth in key indices and a platform to showcase the wealth retail investors have created thanks to authentic, credible voices that appear on the channel, for me — the story is all about creating personal and professional wealth.

In number-play, 20 is iconic for me. I was 20 when I first joined TV18 as a News Trainee in July 2004. We worked out of the 9th floor in Videocon Towers in Jhandewalan, New Delhi. The newsroom was my training ground, and playground too. That’s where friendships were forged – some to live a few days, many to last a lifetime.

We were a team of four. Bani Jain, Kripa Koshy and self – part of a very nimble, surefooted structure that Shereen Bhan led from the front. We would all wear many hats – researchers, producers, guest coordinators, rundown writers, production assistants, desk resources and PCR crew. And boy, did we deliver!

This cult team was responsible for one show to begin with – Tonight@10. Alternating between Karan Thapar and Shereen Bhan as anchors, this was the only political debate on the business news channel. Two debates per episode, recorded deferred live at 7 pm as that was the only slot available in the studio in Delhi as the channel would be on-air with a Hindi show from Mumbai.

Tonight@10 was shot in a green-screen studio with a lit-up Rashtrapati Bhawan evening shot superimposed for the viewers. Almost every day, with emerging political stories, the debate subjects would change a few hours before recording – putting the whole operation into a downward spiral. Shereen, our friend, philosopher and guide, also the markets anchor, could only be found in the studio. She would start her day at 6 am and never end before 10 pm. We would run to the PCR to speak to her in her ear-piece (yes, she wore one those days) during breaks to seek inputs on guests and research.

By the time she would exit the studio after the stock markets closed, we would have a file of research printed for her quick consumption and a status of guests on the show. Every day, Shereen and her team would do a “crash course” in a new subject. While the rest of us would quickly delete the course from our memories, Shereen had the ability to file it into a compartment in her brain for future use.

And then, it was showtime!

“Make the lead-in more provocative,” Shereen would often tell me. I saw an improvement in my writing skills. I was perhaps the only employee who was still pursuing college and juggling a fulltime newsroom job alongside. I was paid a four-figure salary that Shereen fought hard to push to five figures within a few weeks of my joining.

Did we make our mistakes – yes, we all did. I once spelt “lose” as “loose” on a graphic and all hell broke “loose.” And once I gifted Kapil Sibal an extra ‘b’ in his last name and had a bee up my a**. Lesson learnt, internalised and we were good to start a new day.

And then came Young Turks. We restarted the series on September 2, 2004 with an envious lineup of young entrepreneurs who became ardent brand ambassadors of the show and the channel. Every other day, I would walk up to Shereen with a list of names to consider for subsequent Young Turks shoots and they would all be shot down. “They are missing the oomph,” I would be told. She was right, but I would push my luck because we had to get the shoots going, and soon.

Some of the folks I worked with became best friends too. Kunal Chawla had joined the team, followed by Gautam Shaw soon thereafter. Santanu De (oh, our road trip to Agra on my dad’s 250 cc Yezdi Classic) and Subha Chatterjee – the two seniors I hit it off well with over conversations about life!

Nimisha Tiwari became a mentor on feature shoots; Kullu sir would sit me down and question every shot rolled on tape, got me to log every line of the interview and cross-check every graphic plate well before our permanent night shift for edit would start. Karma and Raju were cameramen I shot with most often and picked up sequencing and shot compositions from.

What Young Turks has become today is nothing short of entrepreneurship itself. We were all intrapreneurs in our rights. We owned the show, the channel and the process to make it work with shared resources and intense internal competition.

Between college, Tonight@10 and Young Turks – I would see the sunrise in the morning, set in the evening and rise again the next morning over cups of machine coffee and nicotine from the 9th floor balcony of Videocon Towers.

We worked with the resources of a production house, the efficiency of a military unit and the agility of a news channel.

Four years at CNBC-TV18 gave me the experience and confidence of leading a team of 20 at the age of 24. I could take a stand on content, production, guests and processes without batting an eyelid.

Over the years, CNBC-TV18 has created many leaders. This would be among the only organisations where video editors have gone on to become creative directors; drivers have aced videography and sons and daughters of support staff have led PCR operations. CNBC-TV18 has been a story of professionalism, empathy, inclusion, meritocracy and unlimited ambition.

This is for Shereen and all the leaders at CNBC-TV18 who have nurtured the brand like their own child and many more leaders emerging in the next 20 years!

Happy B’day, Alma Mater!

Kartik Malhotra is Senior Executive Producer and Editor, Special Projects, at Network 18. He is an alumnus of IIM Lucknow and, when not behind the camera, indulges in armchair analysis of strategy, technology and economy.