IFFCO’s Jordan project to commence production in mid-2013: Dr U S Awasthi

By Deepak Arora

NEW DELHI, Jan 1: IFFCO Managing Director, Dr U S Awasthi, aims to make 2013 as memorable year in the Cooperative’s history. While the largest cooperative of farmers took a giant leap last year by extending its presence to the other side of globe by planning to set-up an Ammonia Urea project in Canada, in the year 2013 the Cooperative plans to start the work for expansion of our Ammonia Urea Unit at Kalol as Kalol II.

In his New Year message, Dr Awasthi said that all the Joint Ventures were on track and “the Jordan project is nearing completion and we hope to begin commercial production by mid-2013. This will add to our existing capabilities and further strengthen our position in India.”

Dr Awasthi said “the IFFCO Canada Enterprise Limited is an opportunity between two large agricultural leaders and , even better, two cooperatives (La Coop Federee and IFFCO), from two large agricultural economies, to play a central vital role in a rapidly changing agricultural industry, this is one of its kind partnership to establish an Ammonia Urea project in Becancour, Canada. With a combined investment of $1.2-billion, the project will allow production and marketing of urea fertiliser and in the long term help in bridging the demand and supply lacunae in Urea in India.”

Beautifully clearing any inhibitions and superstitions surrounding the number 13 (thirteen), Dr Awasthi said “13 is the smallest number having eight letters in its name spelled out in English. In Hindi, 13 is called as “Terah”, which means “yours”. It not only represents your karmas (deeds) but in the spiritual context, it could also mean that everything belongs to one God/Creator including the soul present in every human being.

“It is not incidental that the 13th chapter of the Bhagwat Gita contains its most significant, most illuminating and most mystical portions, it is described as “Ksetra Ksetrajna Vibhaga Yoga” Or “Yoga in relation to difference between the Field and the knower of the Field”. The divine lord says that he resides as knowledge in all beings and is the illuminator of all light, beyond darkness of all ignorance, and therefore Supreme Knowledge, knowing which, there would be nothing to be known further.

Ushering in 2013, the 13th year of the 21st century on this note, he said “will clear any inhibitions and superstitions that surround the number. But a vision to strive for supreme knowledge devoid of learnings from the past is at best futile and at IFFCO we keep that as a basis for every step we take for the betterment of the Indian farmer.”

The Managing Director said “the past year was a mixed bag for us as on the one hand we had to put up with a gloomy economic scenario but on the other hand we literally took a giant leap by extending our presence to the other side of globe by planning to set-up an Ammonia Urea project in Canada. In India, We will start the work for expansion of our Ammonia Urea Unit at Kalol as Kalol II. The capacity of Kalol II will be 1.28 million on TPA of Urea.

Another significant event in 2012, he said was the 97th amendment to the constitution of India which has made formation of cooperative a fundamental right. “IFFCO welcomes this decision as this will give a much needed impetus to the cooperative movement in India,” he added.

Talking of impetus, the efforts of IFFCO were recognized at various platforms in the past year. The Paradeep unit was awarded the FAI award for technical innovation, the Greentech award for outstanding achievement in Environment management, the Phulpur unit was awarded for best production performance for Nitrogen (Ammonia) while Anola plant was recognized for its environment protection by FAI. IFFCO’s Agriculture extension activities were also recognized by FAI.

He said the last year was a difficult year for the global economy in general and Indian economy in particular, add to this the vagaries of the Indian monsoons which came to fore 2012 coupled with serious devalution of the Rupee vis a vis the Dollar made the prices of the raw material dearer for us and we were forced to revise prices and as a result in the period April till December, 2012 we registered a production of 33.60 Lakh MT for Urea, 25.40 Lakh MT for NP/NPK/DAP with a total production of around 59 Lakh MT and we registered a profit (Before Tax) of Rs. 706.37 Crore for the given period.

In these circumstances of high inventories and not so conducive market conditions our Marketing Division stood their ground and it was largely through their efforts that IFFCO registered Sales of 42.50 Lakh MT for Urea, 23.50 Lakh MT for NP/NPK/ DAP and total of around 66 Lakh MT. I would also like to extend my sincere thanks here to our member cooperatives especially marketing federations and cooperative societies for their cooperation it was due to them that we could serve over 5.5 crore farmer members.

In his message, Dr Awasthi asserted on the fact that while working; especially in plants, “we need to assure ourselves that all of us are following the designated safety and security measures. We have to remember that Safety is the biggest investment and the only gateway for success in all forms. Follow the defined safety procedures & work for a better tomorrow.”

He expressed confidence that the Society would continue to grow and IFFCO would surpass all the preceding records to emerge as a global leader in the fertilizer market and be a force to reckon with.

NETGEAR introduces new redefined logo

NEW DELHI, Jan 24: NETGEAR has redefined its identity this year with a restructured logo. The new logo reflects the modified version of the former one. With its redefined look it is on its way to inculcate new business strategy moving a step ahead. In a bid to drive a stronger partner strategy, NETGEAR is committed to expand its product portfolio with the prime focus towards SMBs in India.

NETGEAR has been following its SMART IT vision which envisages a reliable, affordable and simple range of products covering the entire infrastructure needs of small and medium businesses, encompassing switching, storage, wireless and security solutions and it foresees huge growth in this field. The company is also eyeing 40% growth in FY2013. The total addressable market in the SMB space is estimated to be close to $100 million in 2013.

Commenting on NETGEAR’s aggressive expansion plans, Subhodeep Bhattacharya, Regional Director, NETGEAR said, “We are recruiting partners who are solution focused because customer interest is now moving from being price sensitive to tech-focused. At NETGEAR we see a trend of more gigabit uptake in SMBs apart from increased focus on security and manageability. We also have plans to open two more centres by Q2 2013.”

In terms of channels, the company is looking forward to expand its partner base from the currently 40 partners to 70 by Q2-2013. In addition, NETGEAR is also prepared to start up Power Shift Partner Program facilitating access for partners regarding marketing, training, and support resources and sales.

Currently NETGEAR has Ingram Micro and Rashi Peripherals as its National Distributors reaching up to 1,000 partners across the nation. This fiscal, the company would spread its footprints to the top 40 cities, more so in Class B and C class cities. Participation in customer events for product demos, ATL activities and road-shows will be taken into utmost consideration as a part of companies top most agenda. NETGEAR is the only networking company that provides lifetime warranty for almost all its products. Besides this, NETGEAR has authorised Intarvo as its service provider for the top seven cities and Rashi Peripherals for the remaining cities.

R K Dubey is new CMD of Canara Bank

By Deepak Arora

BANGALORE, Jan 12: Mr R.K. Dubey has assumed charge as the Chairman and Managing Director of Canara Bank, one of the leading public sector banks in India, on Friday.

Soon after taking over the charge, Mr Dubey held a review meeting of top offcials in Mumbai and the next day in Bangalore. Without mincing any words, the new CMD conveyed to the senior offcials that he means business and would like cooperation of all to take the bank to new heights.

Mr Dubey has vast knowledge and multi-dimensional banking experience, spanning over three decades.

His key areas of expertise include planning and budgeting, resource mobilisation, credit, risk management, HR, IT and marketing.

A post graduate in English, Mr Dubey’s academic credentials also include LLB, MBA in HR and a Certified Associate of the Indian Institute of Bankers.

He joined Punjab National Bank in 1977 as a management trainee and moved up to the ranks of a General Manager in 2008 and was appointed as Executive Director of Central Bank of India in 2010.

National Investment and Manufacturing Zones Transformative for India: Anand Sharma

NEW DELHI, Jan 8: In an exclusive and a candid conversation with India Brand Equity Foundation (IBEF), Mr. Anand Sharma, Minister for Commerce, Industry and Textile, Government of India, shared his views on the future outlook on the Indian economy – importance of the recent set of economic decisions, including FDI in multi-brand retail, the export policy, and the Brand India campaign at the upcoming Annual Meeting of the World Economic Forum (WEF) scheduled for January 23-27, 2013 at Davos, Switzerland.

Mr. Anand Sharma, who has played a key role in the recent FDI policy announcements made by the government, when asked about the economic impact of the FDI policy said that the policy announcements carry a message to India’s partners to look at the opportunities offered by India.

Highlighting the impact of FDI in multi-brand retail on infrastructure development, Minister Anand Sharma said that, “The minimum threshold that we have is US $100 million for any FDI proposal to be considered and half on this investment is for backend infrastructure.”

Mr Sharma mentioned that the foreign technology and know-how will help India create efficiencies in the integrated value chain in the multi-brand retail sector and add new employment opportunities at both the front and the back-end.

Reiterating the significance of the National Manufacturing Policy as one of the biggest policy initiatives India had taken, the Minister said that, “It would take the share of manufacturing up from 16% to 25% of GDP and would create 100 million skilled jobs in one decade in India.” Referring to the National Investment and Manufacturing Zones, he said, “these would be integrated industrial townships that are not brown-field but green-field. 12 of these had already been notified, which would not only be transformative but is an investment in the future of the country”. Building infrastructure remained a key priority for the government and offered a US $1 trillion investment opportunity in the sector over the next 5 years.

India as a young nation of 1.2 bn people with a median age of 23-24, is aspirational and has the capacity to grow and the ability to engage.

On the future outlook of the Indian economy, Minister Anand Sharma said that the fundamentals of the Indian economy remained strong. It is the National Investment rate which has to go up from the current level of 30%-31%. An increase to 35%-36% was desirable, which would lead to growth in the GDP and for which the government and the industry would have to work together.

As regards the export policy, the Minister said that market diversification was a conscious decision. The Foreign Trade Policy 2009-14 added 41 new markets. The deficit in Trade Account has to be addressed by pushing exports, attracting FDI and remaining competitive globally. Conclusively on this topic, the Minister stated that, “If you and rightfully so, an aspiration to be a major player in the global economic order as there is a rebalancing of the global economy, India has to take the initiatives which are required to meet those objectives and that is what we are trying to do.”

On the Brand India campaign – India an aspirational nation of potential and promise, Land of limitless opportunities, India beckons the world - proposed to be undertaken later this month at the Annual Meeting of the World Economic Forum at Davos, Minister Anand Sharma reiterated that India is a land of opportunities and potential, and a country which has promise.

Canara Bank launches Direct Cash transfer Program in Mysore

MYSORE, Jan 9: Canara Bank launched the Direct Cash Transfer in Mysore District on Wednesday at T Narasipura, for students. Mrs Archana S. Bhargava, Executive Director of Canara Bank launched the program at Government Girls High School, T Narasipura and distributed Passbooks to beneficiary students and also distributed School bags and notebooks to the poor students.

Mrs Archna S. Bhargava inaugurated the programme by lighting the traditional lamp and handing over school bags to the students. The Executive Director explained about the initiatives taken by Canara Bank under the Direct Cash Transfer programme.

The program was attended by Mr S.S. Bhat, General manager, Priority Credit and Financial Inclusion Wing, Head Office, Bangalore and explained about the scheme and benefits available to the beneficiaries with the implementation of Direct Cash Transfer scheme.

Various scholarship schemes are handled by Social Welfare Department of the State Government which has about 25000 beneficiaries in Mysore Dist. As per the requirement of Ministry of Finance, accounts of all the 25000 beneficiaries have already been opened with Bank branches.

Mr K Mahadeva, Head Master, Government Girls High School, T Narasipura while speaking on the occasion applauded Canara Bank’s efforts in implementing Central Governments Flagship scheme of Direct Cash Transfer with all seriousness showing the way for others. He also requested other Banks to follow Canara Bank to reach the benefit to the last Mile Customers.

All Banks in the District have been actively opening accounts to ensure that each household has a Bank account and also that each beneficiary of the schemes too have a Bank account.

Mysore District has 6.88 lac households and Banks have opened over 24.30 lac saving bank accounts. In the 16 schemes selected for implementation in the District, about 34039 beneficiaries are covered. About 29476 accounts of beneficiaries have been opened.

In Karnataka Canara Bank has more than 700 branches and Pragathi Gramin Bank, Canara Bank sponsored Regional Rural Bank, has got 410 branches. In Mysore District, Canara Bank has 29 branches with 79 service area villages and 12 wards. During the campaign period, more than 10000 accounts have been opened taking the tally of accounts to more than 43000. Canara Bank is always in the forefront to implement customer friendly initiatives.

A K Gupta gives away Quiz awards to students

BANGALORE, Jan 8: As a part of Vigilance Awareness Week 2012, Vigilance Study Circle organised a Quiz competition for students of various Schools at Canara Bank, Head Office in Bangalore on Tuesday.

About 45 students from 15 Schools in and around Bangalore participated in the Quiz program.

Mr A K Gupta, Executive Director of Canara Bank, distributed the prizes and also spoke on the occasion. Ms. Bhanu Raman, CVO of Canara Bank, Mr M N Krishnamurthy, CVO, BEL, Ms. Kavitha Kestur, CVO, BEML, and CVOs of Public Sector Undertakings and Executives of Canara Bank were present.

Vigilance Study Circle, Bangalore started activities in the year 2006-2007 with a mission to spread Vigilance awareness and develop the knowledge and skills of Vigilance Professionals. Vigilance Study Circle comprises of Executives from various Public Sector Undertakings, Nationalized Banks and other Government Organizations.

Canara Bank launches Direct Cash Transfer in Tumkur District of Karnataka

TUMKUR (KARNATAKA), Jan 5: Canara Bank launched a programme on Direct Cash Transfer for SC students under post matric scholarship scheme in Tumkur District here on Sunday.

The function was graced by Mr K H Muniyappa, Union Minister of State
(Independent Charge) for Micro, Small and Medium Enterprises, Mr G S Basavaraj, MP, Tumkur, Mr Jayachandra, MLA. Mrs Archana S Bhargava, Executive Director, Canara Bank and other senior offcials were also present on the occasion.

The objective of Direct Cash Transfer is to provide financial assistance to the SC students studying at post matriculation stages to enable them to complete their education. This is a trend setter scheme to ensure direct credit of scholarship amount to the students’ bank accounts and empower them to focus on studies to achieve their cherished goals.

In Tumkur District, Canara Bank has 26 branches, 248 service area villages and the bank is allotted 4 wards in Tumkur town. There are 67,674 households and the Bank has opened more than 10,000 accounts during the campaign period.

Canara Bank is in the forefront for upliftment of SC/ST community. The Bank has started Dr. Ambedkar Self Employment Training Institute for SC/STs at Pudupudur in Coimbatore District, exclusively to guide and train the youth residing at surrounding areas.

The Bank also observes April and October as SC/ST month to commemorate the birth anniversary of Dr. B R Ambedkar and Mahatma Gandhi. During these months, activities, such as, creating awareness about Bank’s schemes for the benefit of SC/STs, identifying eligible beneficiaries and extending credit assistance, liaison with SC/ST Development Corporation and Government Agencies; covering maximum number of SC/ST beneficiaries under various Government sponsored schemes are undertaken.

Mrs Archana S Bhargava, Executive Director, Canara Bank, handed over the Pass Books and ATM cards to the beneficiaries in the august presence of the Minister and other dignitaries.

Canara Bank launches Direct Cash transfer Program in Waynad

WAYNAD, Jan 4: Canara Bank, a leading Nationalised Bank, launched a programme on Direct Cash Transfer for post-matric scholarship for Schedule Tribe Students in Wyanad District of Kerala. The programme was launched by Ms. T K Jayalakshmi, Kerala Minister for Welfare of Scheduled Tribes and Youth Affairs, in the presence of Mr M I Shanawas, MP, Wyanad and Mrs Archana S Bhargava, Executive Director of Canara Bank.

Canara Bank being the SLBC Convener is spearheading the campaign on Direct Cash Transfer with the right earnest to reach the benefit to last mile customer. Two Districts of Kerala have been selected in the first phase namely Waynad and Pathanamthitta.

Being the Lead Bank of Waynad District earnest efforts are being made to complete the campaign by house to house survey, opening of accounts and seeding of Aadhaar numbers so that beneficiaries can get the cash credited directly to the account.

Mrs Archna Bhargava met Kerala's Finance Minister, Mr K M Mani, on January 2 and appraised him of the developments. The Finance Minister was appreciative of the initiatives and commended Canara Bank for its efforts in timely implementing Direct Cash Transfer Program as SLBC Convener of Kerala State.

The other initiatives by Canara bank in the state of Kerala include:

1. Formation of sub-Committee of SLBC to plan and oversee the implementation of Direct Cash Transfer Program. The sub-Committee has met twice and drawn out a detailed action plan to complete the task within the given deadline.

2. Series of special DCC meetings were held in Waynad and Pathanamthitta Districts in the presence of Executive Director Canara Bank

3. Rationalization of ROI in education loan. Reduction in rate of interest by almost 3 %.

4. To promote self-employment with the infrastructure of RSETIs, Kerala Govt. sponsored KSEDM (Kerala State Self Employment Development Mission) for loans upto Rs.20 lakhs program at Base Rate.

5.  To promote farmers interest and increase lending under agriculture supporting the agriculture production in the State about 1 lakh paddy farmers are being provided with KCC at 7 % ROI under an MOU with SUPPLY CO, a Kerala Govt. Sponsored organization. The effective rate for prompt repayment will be only 4 %.

6.  25 basis points reduction in rate of interest on MSME loan upto 1 crore.

Mr K M Mani lauded the Bank on the specific efforts of Canara Bank. The Minister advised other Banks to follow the footsteps of Canara Bank and launch similar initiatives. He also informed that Government will consider extending the time frame for extending the interest concession on Education Loans for loans granted between 2004-2009 to BPL students which had lapsed on 31.12.2012.

Continuing the series of program of Direct Cash Transfer, Canara Bank on 04.01.2013 rolled out a campaign in Waynad District for Post Matric scholarship for Schedule Tribe students. Ms T K Jayalakshmi, Kerala Minister for Welfare of Scheduled Tribes, Youth Affairs, Museum and Zoos, Govt. of Kerala launched the program at SKMJ School, Kalpetta and distributed the Passbooks and ATM card to 100 beneficiary students.

The program was attended by Mr M I Shanawas, MP, Wayanad and Mr K L Poulose, District Panchayat President. Mrs Archna Bhargava, Executive Director, Canara Bank inaugurated the programme by lighting the traditional lamp and handing over school bags to the students. The Executive Director explained about the initiatives taken by Canara Bank under the Direct Cash Transfer programme. 

The programme was also attended by Mr Gopalakrishna Bhat, IAS, District Collector and other dignitaries of District.

Post matric scholarship for schedule tribe is the first scheme to be rolled out in the state of Kerala. The scheme is handled by Director of ST development which has about 2474 beneficiaries. As per the requirement of Ministry of Finance, accounts of the beneficiaries have already been opened with a Bank branch.

All Banks in the District have been actively opening accounts to ensure that each household has a Bank account and also that each beneficiary of the schemes too have Bank account.

Waynad District has 1.85 lac households and Banks have opened over 11 lac saving bank accounts. In the 10 schemes selected for implementation in the District 16013 beneficiaries have been identified. About ten thousand account have been opened and linked to Aadhaar numbers to enable Direct Cash Transfer.

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