Axis of faith?

IIPM MANAGEMENT INSTITUTE

UTI Bank has come a long way since 2001, but has to counter the new challenges

In the month of January 2008, UTI Bank is slated to change its name to Axis Bank, and in the process break away from a legacy of triumphs as well as tragedies. The board felt that the existence of several shareholder-unrelated entities using the UTI brand was leading to a brand confusion, which led them to take this decision.

While the branding legacy will be lost, the bank itself has found its way quite well, especially after it was written off due to the US-64 scam in 2001. With deposits of Rs.580 billion and over 5.9 million accounts by the end of March 2007, the bank has come a long way from its humble beginnings in December 1993, when its deposits stood at Rs.1.15 billion. The stride forward has been truly remarkable. Within a few years of operations, the bank went public in September 1998 with a Rs.710 million public issue, which was eventually oversubscribed by 1.2 times.

Commenting on the bank’s achievements, CMD Dr. P. J. Nayak stated, “At the end of March 2007, the bank increased its reach to 332 cities, towns & villages across the country through 508 branches & extension counters and 2,341 ATMs.” The bourses are ecstatic as well. The share price was trading at Rs.559.35 and market capitalization was worth Rs.162.85 billion (as on June 1, 2007). The results have been overwhelming; the bank has registered net profits of Rs.6.6 billion for 2007, a massive surge of 38.5% over last year’s profits.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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The of late entrepreneur!

IIPM PUBLICATION

The Bharti group is barging into retail and finance...

We all are aware of the impeccable brand image that Airtel has created in the minds of Indian consumers. Bharti Group now plans to replicate the same success of Airtel with it’s new ventures, too. Bharti Group, which enjoys leadership in the telecom segment for as many years as the existence of wireless telecom segment itself, is now trying a connect with consumers through financial services (insurance). And helping Bharti in this mission is the French insurance giant AXA. The JV for the life insurance segment will invest Rs.5 billion in the next 2-3 years and will have a country wide presence through multi-channel distribution. Besides, Bharti is also strategizing for mutual funds.

Of late, the Bharti Group has entered into the retail segment too. Bharti along with Fortune 500 company – Walmart will study and evaluate the retail market in India and identify business opportunities together within the existing guidelines.

Bharti plans to shell out $2-2.5 billion by 2015 to develop 10 million square feet across all cities. With organised retailing being the next big thing, Bharti too will ring loud in this segment.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Whether you ‘agri’ or not...

IIPM MANAGEMENT INSTITUTE

...Bharti-Walmart, Adani Enterprise and many more are betting big on Indian farms & on retailing of fruits, veggies, poultry, dairy products, staples and processed foods

India’s GDP is growing at a fast pace of 9.4% in 2006-07 with a high tide in all key sectors, except agricultural industry that has reported a mere 2.7% growth, as against 6% in 2005. In spite of being the pulse of our nation, the government’s focus has shift ed from agriculture to the manufacturing and services sector, in order to expedite the growth of the country. Apart from this, the decline has some of the same old reasons that the North-East monsoons that aid the growth of Rabi crop fell almost 21% below expectations.

But not all is gloomy in the agricultural sector. For instance, the food processing industry happens to be the priority sector this year and the government has granted a generous amount of Rs.10 billion, especially for agro-processing infrastructure & market development. Corporations, such as ITC with Aashirvaad and Kitchens of India, Bharti Field Fresh et al, have also penetrated this industry with an exotic range of premium quality fresh fruits and vegetables to offer to the markets worldwide. Of course, ITC’s e-choupal supply strategy is the most hyped one currently in the agriculture sector. ITC officials commented to B&E, “We will have more rural coverage through our e-choupals and we are also planning to make cold chains in many of these areas near agri-lands. This becomes important as agriculture will play an important role in achieving our export targets. ITC is also testing the option of having agri-retailing presence in all the areas of the country within a few years.”

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Apna Sapna...

36TH Full Time Programme In Planning & Entrepreneu...

...a decent salary

The world is essentially not fair. And this is once again being vindicated by stepmotherly attitude shown towards the socalled unorganised sector, which in spite of contributing employment to 93% of India’s work force, does not even fall under the purview of Minimum Wages Act, Equal Remuneration Act and Workmen Compensation Act. The draft report prepared by Commission (headed by Rajya Sabha MP Arjun Sengupta) reveals that 70% of the unorganized sector work force is getting wages below what is stipulated under Minimum Wage Act. Even after decades of economic development, the minimum wages asserted for the lowest category of work remains stagnated at Rs.22.50 a day. Around 396 million people of this country survive on this measly wage by which they are supposed to cover their needs of food, shelter, education for children and healthcare. We know this is just next to impossible. It is high time that the Ministry of Labour for all its passionate talks, should make sure that the minimum wages should essentially include substantial sum to take care a family of three. Too big a demand??

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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