kallayil’s blog

10 Lakh = 1 Million
100 Lakh = 1 Crore = 10 Million
1000 Million = 100 Crore = 1 Billion = 1 Arab 
1000 Billion = 1 Trillion = 10 Kharab

The History of Paint

  

  

Colour has fascinated culture throughout history, every age and every region has produced dyes and pigment depending on the available resources. Colour has been with us for more than 20,000 years. Evidence survives in early cave paintings and the ancient Chinese are considered to have brought its manufacture and use to a state of perfection tens of thousands of years ago. 

  

Colour was widely used by the ancient Egyptians and was considered to have magical and healing properties and around this time, 1500 BC, paint making as an art became quite widely established in Crete and Greece with the Egyptians passing their skills to the Romans. It was between 600 BC-AD 400 that the Greeks and Romans then introduced varnishes. For the Aztec Indians red dye was considered more valuable than gold and both the Indians and Chinese practiced Colour Healing. A 2000 year old, Chinese chronicle, The Nei/ching, records colour diagnoses. 

  

Yet for all this it was discovered that none of the worlds civilisations has named many colours. In the 1960s two anthropologists conducted a worldwide study of colour naming. Many languages only contained two colour terms, equivalent to white (light) and black (dark). Of 98 languages studied, the highest number of basic colour terms was to be found in English - where we have eleven: black, white, red, orange, yellow, green, blue, purple, pink, grey and brown. The other millions of colours have ‘borrowed’ names, based on examples of them, such as avocado, grape, peach, tan, gold, etc.

  

One of the earliest recorded colour discoveries was made by Plato who discovered that by mixing two colours, a third is produced, therefore changing the, ‘manufacture’, of colour forever.

  

Prior to that the earliest cave paintings were made by using iron oxides, it was the ancient Egyptians who developed other paints from pigments in the soil (yellow, orange, and red). It was the Romans who gave us purple, a pound of royal purple dye, required the crushing of four million mollusks. Cochineal red, discovered by the Aztecs, was made using the female cochineal beetle. A pound of water-soluble extract required about a million insects and it was the Spaniards who introduced the crimson colour to Europe in the 1500’s. Later genuine Indian Yellow was produced from concentrated cows urine which was mixed with mud and transported to London for purifying, Sap Green from the Blackthorn berry and Sepia Brown from the dried ink sac of squid. 

  

Paint is made up of a pigment, a binder to hold it together and appropriate thinners to make it easy to apply. 5000 years ago Blue Frit was the first synthetic pigment being produced by the Egyptians from ground down blue glass. Before the nineteenth century the word ‘paint’ was only applied to oil-bound types; those bound with glue were called ‘distemper’. 

  

By 1000 B.C. development of paints and varnishes based on the gum of the acacia tree (better known today as gum arabic) had been developed. At this time umbers, ocher’s and blacks were readily obtainable, new colours were also discovered - the first was ‘Egyptian Blue’; ‘Naples Yellow’ dates from around 500 BC and ‘red lead’ was discovered by accident in about 2500. White lead occurred naturally but demand encouraged production of manmade versions. Vitruvius describes production of white lead in the 2nd century AD.

  

Before the 16th century, pigment colour was largely dependant on dyestuffs which could be grown in, or were indigenous to Europe and similar temperate regions. Between 1550 and 1850 only the so-called natural dyestuffs were available but the range was greatly extended with tropical dyestuffs from Central America and India and elsewhere.

  

In the 17th century the Dutch greatly increased availability of white lead and lowered cost by invention of the Stack Process. All white lead paints included chalk in their undercoats, reserving purer white lead for finish coats. In1856 the first real synthetic dye, ‘Mauveine’, was discovered by Henry Perkins. It was then realized that a great many dyes could be made synthetically and cheaply.

  

It was then that Linseed Oil began being mass produced. 

They also had pigment grade zinc oxide - we call it white paint. 

Using cast-iron paint mills and zinc-based pigments, industrialists produced the first washable paint marketed as ‘Charlton White’ in the 1870’s ( the first ready mixed paint was patented by one D.R. Averill of Ohio in 1867, but it never caught on).

  

The Sherwin-Williams company spent ten years trying to perfect the formula where fine paint particles would stay suspended in Linseed oil. In 1880 they succeeded in developing a formula that far exceeded the quality of all paints available at the time. 

  

It was then that emulsions based on similar formulae, were produced and marketed as ‘oil bound distempers’. By 1880 the new paints were readily available in tins, in a wide range of colours, and came to be exported all over the World. 

  

  

 

The Difference Between Sales and Marketing

Many people mistakenly think that selling and marketing are the same - they aren’t. You might already know that the marketing process is broad and includes all of the following:
Discovering what product, service or idea customers want.
Producing a product with the appropriate features and quality.
Pricing the product correctly.
Promoting the product; spreading the word about why customers should buy it.
Selling and delivering the product into the hands of the customer.

Selling is one activity of the entire marketing process.

Selling is the act of persuading or influencing a customer to buy (actually exchange something of value for) a product or service.

Marketing activities support sales efforts. Actually, they are usually the most significant force in stimulating sales. Oftentimes, marketing activities (like the production of marketing materials and catchy packaging) must occur before a sale can be made; they sometimes follow the sale as well, to pave the way for future sales and referrals.

Contrasting the Sales Concept with the Marketing Concept
The concepts surrounding both selling and marketing also differ. There is a need for both selling and marketing approaches in different situations. One approach is not always right and the other always wrong - it depends upon the particular situation.

In a marketing approach, more listening to and eventual accommodation of the target market occurs. Two-way communication (sometimes between a salesperson and a customer) is emphasized in marketing so learning can take place and product offerings can be improved.

A salesperson using the sales concept, on the other hand, sometimes has the ability to individualize components of a sale, but the emphasis is ordinarily upon helping the customer determine if they want the product, or a variation on it, that is already being offered by the company. In the sales approach, not much time is spent learning what the customer’s ideal product would be because the salesperson has little say in seeing that their company’s product is modified. Furthermore, they aren’t rewarded for spending time listening to the customer’s desires unless they have a product to match their desires that will result in a sale. (Note, however, that sales people aren’t restricted to the use of the sales concept; oftentimes they use the marketing concept instead.)

At the heart of the sales concept is the desire to sell a product that the business has made as quickly as possible to fulfill sales volume objectives. When viewed through the marketing concept lens, however, businesses must first and foremost fulfill consumers’ wants and needs. The belief is that when those wants and needs are fulfilled, a profit will be made.

Do you see the difference? The selling concept, instead of focusing on meeting consumer demand, tries to make consumer demand match the products it has produced. Whereas marketing encompasses many research and promotional activities to discover what products are wanted and to make potential customers aware of them.

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Ice Cream Manufacture

 

 

The basic steps in the manufacturing of ice cream are generally as follows:

blending of the mix ingredients 
pasteurization 
homogenization 
aging the mix 
freezing 
packaging 
hardening 


Process flow diagram for ice cream manufacture: the red section represents the operations involving raw, unpasteurized mix, the pale blue section represents the operations involving pasteurized mix, and the dark blue section represents the operations involving frozen ice cream.

 

Blending
First the ingredients are selected based on the desired formulation and the calculation of the recipe from the formulation and the ingredients chosen, then the ingredients are weighed and blended together to produce what is known as the “ice cream mix”. Blending requires rapid agitation to incorporate powders, and often high speed blenders are used. 









Pasteurization
The mix is then pasteurized. Pasteurization is the biological control point in the system, designed for the destruction of pathogenic bacteria. In addition to this very important function, pasteurization also reduces the number of spoilage organisms such as psychrotrophs, and helps to hydrate some of the components (proteins, stabilizers).


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Pasteurization (Ontario regulations): 69° C/30 min. 80° C/25s


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Both batch pasteurizers and continuous (HTST) methods are used. 

Batch pasteurizers lead to more whey protein denaturation, which some people feel gives a better body to the ice cream. In a batch pasteurization system, blending of the proper ingredient amounts is done in large jacketed vats equipped with some means of heating, usually steam or hot water. The product is then heated in the vat to at least 69 C (155 F) and held for 30 minutes to satisfy legal requirements for pasteurization, necessary for the destruction of pathogenic bacteria. Various time temperature combinations can be used. The heat treatment must be severe enough to ensure destruction of pathogens and to reduce the bacterial count to a maximum of 100,000 per gram. Following pasteurization, the mix is homogenized by means of high pressures and then is passed across some type of heat exchanger (plate or double or triple tube) for the purpose of cooling the mix to refrigerated temperatures (4 C). Batch tanks are usually operated in tandem so that one is holding while the other is being prepared. Automatic timers and valves ensure the proper holding time has been met.

Continuous pasteurization (see schematic diagram for mix here) is usually performed in a high temperature short time (HTST) heat exchanger following blending of ingredients in a large, insulated feed tank. Some preheating, to 30 to 40 C, is necessary for solubilization of the components. The HTST system is equipped with a heating section, a cooling section, and a regeneration section. Cooling sections of ice cream mix HTST presses are usually larger than milk HTST presses. Due to the preheating of the mix, regeneration is lost and mix entering the cooling section is still quite warm.

Homogenization
The mix is also homogenized which forms the fat emulsion by breaking down or reducing the size of the fat globules found in milk or cream to less than 1 µ m. Two stage homogenization is usually preferred for ice cream mix. Clumping or clustering of the fat is reduced thereby producing a thinner, more rapidly whipped mix. Melt-down is also improved. Homogenization provides the following functions in ice cream manufacture:

Reduces size of fat globules 
Increases surface area 
Forms membrane 
makes possible the use of butter, frozen cream, etc. 

By helping to form the fat structure, it also has the following indirect effects:

makes a smoother ice cream 
gives a greater apparent richness and palatability 
better air stability 
increases resistance to melting 
Homogenization of the mix should take place at the pasteurizing temperature. The high temperature produces more efficient breaking up of the fat globules at any given pressure and also reduces fat clumping and the tendency to thick, heavy bodied mixes. No one pressure can be recommended that will give satisfactory results under all conditions. The higher the fat and total solids in the mix, the lower the pressure should be. If a two stage homogenizer is used, a pressure of 2000 - 2500 psi on the first stage and 500 - 1000 psi on the second stage should be satisfactory under most conditions. Two stage homogenization is usually preferred for ice cream mix. Clumping or clustering of the fat is reduced thereby producing a thinner, more rapidly whipped mix. Melt-down is also improved.

Ageing
The mix is then aged for at least four hours and usually overnight. This allows time for the fat to cool down and crystallize, and for the proteins and polysaccharides to fully hydrate. Aging provides the following functions:

Improves whipping qualities of mix and body and texture of ice cream 
.
It does so by: 

providing time for fat crystallization, so the fat can partially coalesce; 
allowing time for full protein and stabilizer hydration and a resulting slight viscosity increase; 
allowing time for membrane rearrangement and protein/emulsifier interaction, as emulsifiers displace proteins from the fat globule surface, which allows for a reduction in stabilization of the fat globules and enhanced partial coalescence. 
Aging is performed in insulated or refrigerated storage tanks, silos, etc. Mix temperature should be maintained as low as possible without freezing, at or below 5 C. An aging time of overnight is likely to give best results under average plant conditions. A “green” or unaged mix is usually quickly detected at the freezer.

 

Freezing and Hardening
Following mix processing, the mix is drawn into a flavour tank where any liquid flavours, fruit purees, or colours are added. The mix then enters the dynamic freezing process which both freezes a portion of the water and whips air into the frozen mix. The “barrel” freezer is a scraped-surface, tubular heat exchanger, which is jacketed with a boiling refrigerant such as ammonia or freon. Mix is pumped through this freezer and is drawn off the other end in a matter of 30 seconds, (or 10 to 15 minutes in the case of batch freezers) with about 50% of its water frozen. There are rotating blades inside the barrel that keep the ice scraped off the surface of the freezer and also dashers inside the machine which help to whip the mix and incorporate air.






Ice cream contains a considerable quantity of air, up to half of its volume. This gives the product its characteristic lightness. Without air, ice cream would be similar to a frozen ice cube. The air content is termed its overrun, which can be calculated mathematically.

As the ice cream is drawn with about half of its water frozen, particulate matter such as fruits, nuts, candy, cookies, or whatever you like, is added to the semi-frozen slurry which has a consistency similar to soft-serve ice cream. In fact, almost the only thing which differentiates hard frozen ice cream from soft-serve, is the fact that soft serve is drawn into cones at this point in the process rather than into packages for subsequent hardening. 

Hardening
After the particulates have been added, the ice cream is packaged and is placed into a blast freezer at -30° to -40° C where most of the remainder of the water is frozen. Below about -25° C, ice cream is stable for indefinite periods without danger of ice crystal growth; however, above this temperature, ice crystal growth is possible and the rate of crystal growth is dependant upon the temperature of storage. This limits the shelf life of the ice cream.

A primer on the theoretical aspects of freezing will help you to fully understand the freezing and recrystallization process.

Hardening invloves static (still, quiescent) freezing of the packaged products in blast freezers. Freezing rate must still be rapid, so freezing techniques involve low temperature (-40oC) with either enhanced convection (freezing tunnels with forced air fans) or enhanced conduction (plate freezers). 




The rate of heat transfer in a frezing porcess is affected by the temperature difference, the surface area exposed and the heat transfer coefficient (Q=U A dT). Thus, the factors affecting hardening are those affecting this rate of heat transfer:

Temperature of blast freezer - the colder the temperature, the faster the hardening, the smoother the product. 
Rapid circulation of air - increases convective heat transfer. 
Temperature of ice cream when placed in the hardening freezer - the colder the ice cream at draw, the faster the hardening; - must get through packaging operations fast. 
Size of container - exposure of maximum surface area to cold air, especially important to consider shrink wrapped bundles - they become a much larger mass to freeze. Bundling should be done after hardening. 
Composition of ice cream - related to freezing point depression and the temperature required to ensure a significantly high ice phase volume. 
Method of stacking containers or bundles to allow air circulation. Circulation should not be impeded - there should be no ‘dead air’ spaces (e.g., round vs. square packages). 
Care of evaporator - freedom from frost - acts as insulator. 
Package type, should not impede heat transfer - e.g., styrofoam liner or corrugated cardboard may protect against heat shock after hardening, but reduces heat transfer during freezing so not feasible. 
Ice cream from the dynamic freezing process (continuous freezer) can also be transformed into an array of novely/impulse products through a variety of filling and forming machines, which have ben identified on a separate page. 

 

 

Even as the Indian government continues to underscore that the financial crisis in Dubai [ Images ], triggered by the twin shock of a major slump in real estate prices and a crippling credit crunch, may not impact remittances sent by Indian expatriates in the Gulf, reports say that many Indian workers who had come home for Eid have been sacked over SMS, says Economic Times.
The ET [ Images ] report said that many workers from Meerut who were working in Dubai in some tile production units, were shocked to receive SMSes stating that their contracts had been terminated and they need not return to Dubai.

Not only that, the work permits of all these employees too were terminated, ET said.

The SMS further informed the sacked employees that their dues, if any, would be sent through post and their belongings left back in Dubai too would be returned, the Economic Times reported.

Many an Indian’s dream has been rudely shattered by the pink slips via SMS. Families whose loved ones are still in Dubai are now afraid for their fate as they are not sure if they will be paid any more or not and, more importantly, what would they do once they lose their livelihood in the Gulf.

Even those who have not received any information about being fired from their jobs are now on the tenterhooks.

India [ Images ] continues to be the top recipient of global remittance flow at $52 billion in 2009, the World Bank has said in a report recently, and a quarter of that came from those working in the United Arab Emirates [ Images ].

“Remittances from expats didn’t suffer during the period when the larger crisis was on. So whether this should have an impact in terms of employment, in terms of salaries and therefore in terms of remittances is somewhat unlikely,” Finance Secretary Ashok Chawla said.

Former RBI Governor Y V Reddy said, “On the basis of past evidence, the recent development in the Middle East should not have any serious impact on the Indian remittances.”

However, there is now a fear that the Dubai bubble would take a heavy toll on Indian workers there and workers’ organisations are looking to the Indian government to help them get over this crisis.
AGENCIES

The fear of government-owned Dubai [ Images ] World reneging on its commitments to global lenders is expected to find an echo in a reversal of a recent tentative recovery in Dubai’s real estate values unless the emirate manages to strike some sort of deal with creditors and / or somehow raises the cash to meet its obligations, analysts and industry professionals said on Sunday.
The ports, property and hospitality conglomerate last Wednesday asked its creditors for a six-month standstill period while it restructures its debt obligations. Dubai World has borrowed $59 billion to finance its expansion, including the acquisition of port, retail and leisure assets and the setting up real estate ventures globally.

“Unless there is some agreement with creditors on the $10 billion or so that is due in the next two months, I see an indirect perceptional impact on property values in Dubai, maybe even sending them spiralling downward again,” said Ashutosh Maitra, one of the partners at a Dubai-based property marketing firm.

This would have a direct impact on the Indian investors in the emirate’s real estate sector, who constitute the largest number of property buyers followed by Britons. In real terms, however, such an impact would further push back the possibility of a profitable exit.

An economist attached to an asset management firm at the Dubai International Financial Centre, or DIFC, added: “Such an impact is only likely if there is no quick resolution to the Dubai World crisis. And frankly, this seems to be a storm in a teacup. Dubai World is not seeking to renege on obligations, it is simply asking for some time out from paying off the interest while it restructures its commitments.”

By the middle of this year, property values had fallen by about 65 per cent in peak advertised prices since September 2008, when a delayed reaction to the global credit crunch hit the market. According to HSBC data, May 2009 saw a slight uptick in agreed prices month on month, indicating signs of recovery. The lender said distressed stock was gradually clearing due to renewed interest as well as some repricing by sellers. “Anecdotal evidence also suggests that foreign investors seem to be back in the market and there are bulk buyers of property for investment purposes,” HSBC said.

The research arm of HC Securities said the main catalyst of an uptick is credit returning to the market as mortgage providers raised their loan-to-value ratios, relaxed credit norms and lowered rates in line with a downward trend in the Emirates Inter-Bank Offer Rate, or Eibor, which fell from 3.87 per cent in January to 1.95 per cent in October.

After dropping to a two-year low of seven per cent and six per cent, mortgage values and volumes as a percentage of total transactions have since steadily recovered to pre-crisis levels, reaching 24 per cent and 14 per cent, respectively, in October. Mortgage volumes have also recorded a strong growth, reaching a two-year high of 374 units in August, as prices drop to attractive levels, only to back-pedal to 191 units in October.

However, a number of factors are likely to keep the recovery fragile. According to HC Securities’ own research, 60,000 residential units are likely to hit the market between 2009 and 2011, putting further pressure on prices.

At the same time, rental returns will continue to stagnate or fall marginally as uncertainty over the business environment keeps the expatriate population lower than in recent years. Several rounds of lay-offs by large and small corporations have resulted in rents in most parts of Dubai coming under intense pressure in the past 18 months, making property investments less attractive than they used to be in the glory days of 2002 to 2007, when so-called “flippers” — investors who bought property with a 10 per cent down payment, only to sell it one or two months later for a 100 per cent return on investment — made massive amounts of cash.

Asking rentals in Dubai have retreated for 10 months in succession since the start of the year, dropping more than 40 per cent year to date. Occupancy levels have been driven down by expatriates leaving and new stock coming into the market. The pace of the decline, however, seems to be slowing, according to HC Securities, with rent values declining only two per cent month-on-month in September and October.

Advertised rentals on agreed sale prices resulted in yields that are higher, upwards of 10 per cent in October. Considering there is a large bid/ask spread on prices, HC Securities believes rentals are no different and estimates that agreed rental yields have compressed from a high of 8.6 per cent in November 2008 to around 5.7 per cent in October 2009.

On the other hand, this is making life easier for tenants, who now have the upper hand in negotiating down their monthly rents. Over the past four months, there has been a large population shift from the traditionally low-rent areas of Dubai into the relatively upper-crust areas where rents have suddenly become more affordable.

Any quick recovery in realty values driven by massive foreign capital, as witnessed in the boom years, will be predicated on global fund managers allocating larger amounts to the Dubai and UAE markets. “I don’t see that happening very quickly,” said the DIFC-based economist, who refused to be named. “Primary fund flows will be allocated to more developed markets like New York and London [ Images ] — where there is an established secondary market that facilitates an exit, and where transparent data shows a clear bottoming out. I believe only the high-risk hot money like hedge funds will be allocated to emerging markets.”

Also, other real estate opportunities in the Arabian Gulf itself are looking more attractive, according to several property consultancies such as Jones Lang Lasalle and Colliers. One of them is Dubai’s own neighbour, the oil-rich UAE capital city of Abu Dhabi, where severe residential and commercial property shortages are keeping prices and rental yields high.

“If the Dubai World debt imbroglio results in pushing property prices down again, it will be seen as the start of the double-dip in that sector. Since perception is everything these days, the worry is the double-dip will result in a W-shaped overall economic recovery for the emirate,” said the DIFC-based economist. This would be bad news for real estate buyers in Dubai, who will witness their investments eroding even more before recovering.

“These worries would prove unfounded, however, if the Abu Dhabi Government or the Federal Government takes a hand in helping out the Dubai Government, as they have done on two occasions in the past,” he said.
Yazad Darasha in Dubai

Sore throats are the most common reason that patients visit a doctor. The tonsils and throat are very open to infection due to the contaminated air that flows through the area. The contaminated air contains pollutants, bacteria and viruses that attack throat tissue.
What is a sore throat?

Sore throats (known medically as pharyngitis) are an acute inflammation of the mucous membrane of the lower pharynx. Tonsils and the soft palate may also be inflamed. The main indication of a sore throat is pain when swallowing and sometimes a burning sensation and tightness in the throat. Secretions may be discharged from the mucous membrane or the throat may be very dry.

What causes a sore throat?

A sore throat can have many causes including:
Common viruses and even the viruses that cause the flu. Some viruses can also produce blisters in the mouth and throat.
Breathing through the mouth can produce throat dryness and soreness.
Sinus drainage (post nasal drip).
Bacteria — the two most common bacteria to cause a sore throat are Streptococcus (which causes strep throat) and Arcanobacterium haemolyticum. Arcanobacterium causes sore throats mainly in young adults and is sometimes associated with a fine red rash.
Sore throat appearing after treatment with antibiotics, chemotherapy, or other immune-compromising medications may be due to Candida, commonly known as ‘thrush’.
A sore throat lasting for more than two weeks can be a sign of a serious illness.

What are the symptoms of a sore throat?

Sore throat symptoms include:
A dry, scratchy or swollen throat
Pain when swallowing, breathing or talking

A sore throat usually occurs as a result of an infection that has its own additional symptoms. For example, if your sore throat is caused by a cold, you may also have coughing, fever, sneezing, body aches or a runny nose.

What are the remedies for a sore throat?

There are numerous options available to help you deal with this uncomfortable condition. Here are a few to get you started:
Fluids are a great help. Sufficient intake of water helps in washing away infections quickly from your system.
If possible, try to rest your voice for the day. Avoid straining your throat by talking too much, especially talking loudly.
The old standard is to gargle with warm salt water (1 teaspoon salt dissolved in one glass of water) at least a few times a day. It eases the scorching feeling in your throat. It works by improving the circulation around the throat area. It also cleans the pharynx, thus enabling your immune system to be more potent.
Gargling with an infusion made of henna leaves (mehandi leaves) heals a sore throat as it has antibacterial properties.
Mango bark helps to soothe a sore throat as well as other similar illnesses. You need to extract the fluid of the bark which is then ground, and applied to the throat. Ground bark can also be used to gargle by stirring 10 ml of it into 125 ml of water.
Baking soda and salt gargle: mix 1/2 a teaspoon each of baking soda and salt with 1/2 a cup of warm water and gargle a few times each day.
Put ginger root in a glass of hot water, wait 5-10 minutes and drink. Repeat several times a day.
Coarsely powdered cinnamon (dalchini) added to a glass of water along with two tablespoons of honey and a pinch of ground pepper and then boiled, is another remedy for sore throat.
Mix 2 tablespoons of sesame (til) oil and one tbsp of honey. Take one spoon three times a day.
Avoid fried or cold foods, very cold drinks and anything sour as they can aggravate a sore throat.
Another useful home remedy is to fill a tablespoon halfway with honey and then squeeze a lemon to fill up the spoon. Thereafter, add a sprinkle of pepper, put the spoon in your mouth, and suck on it slowly.
Garlic (lahsun) is also known to relieve a sore throat as it is a natural antiseptic. It can be eaten as well as consumed in tea.
Sucking on hard candy, in the sugar-free variety, helps to keep your mouth and throat moist, which can help you get some relief from a sore throat.

There are several over-the-counter remedies available for a sore throat. However, these herbal treatments can be of great help in healing it, whether the infection is caused by a cold, voice overuse or other viral or bacterial infections.

Do you have a special home remedy for common ailments? Share it with us! Write in to getahead@rediff.co.in (subject

Move against credit card harrassment and Agony
Loan repayment harrassment

Chennai, Tamil Nadu, November 29, 2007 /India PRwire/ — The recent suicide of a loanee in Delhi again threw light on the harassment meted out by recovery agents on defaulters.

Though in Chennai such cases are less, the issue of recovery agents nagging the defaulters persists.

In a bid to prevent the harassment of loan recovery agents, an organisation, Move Against Credit Collection Agony and Nuisance (MACCAN) has been formed in Chennai.

The organisation consisting of advocates, doctors, social workers and others, offers financial counselling to the defaulters and also guides them to repay the loan with the proper interest in the legal manner.

It would also helps loanees in filing cases against harassment by agents and also fights on their behalf. They also help in getting the settlement certificate from the bank after the loan is re paid.

"We will take up only the genuine cases. If the individuals file the case, the banks state that recovery agents were not on their rolls and not responsible for their action.

There are nearly 250 loan recovery agencies in Chennai alone,'' said A J Prabhakaran, chief negotiator of Maccan.

What are the banks not allowed to do?
Well, debt recovery agents (DRA's) are not allowed to enter a person's home without permission. And they have to carry an identification card with them at all times. Also, RBI rules lay down that the state DRA's can contact customers only between 7.00 a.m. and 7.00 p.m. and has to maintain civil discourse. The customer is not to be humiliated publicly or in front of his family members.

What should borrowers do?
has some good advice for those who find it difficult to pay back the money they have borrowed. They say:

1. Avoid giving post-dated cheques to banks because if a cheque bounces, it is a criminal offense and the punishment can be a two year jail term. This gives the lender an even greater leverage over the borrower.
2. As soon as you realise that you have a problem, discuss the issue with the bank, even before you default on a loan payment. Its not just the DRA's you have to fear, but mounting interest rates. This can be particularly bad if it's a credit card payment which is not paid on time.
3. If necessary sell off assets. If selling off the asset means you have to go into a smaller house, so be it. But remember that if you default and you have mortgaged your property, you lose even items inside your home.
4. If things go so far that the bank sends you a legal notice (after reminders have failed to elicit any response from you) then you need to talk to the bank immediately. Try and reach a settlement. If you can convince the bank that it is a temporary problem, that you are still credit-worthy and if you have a good re-payment record, your bank could agree to a compromise. They could either agree to to re-structure the installments, or settle the matter by accepting a smaller amount in a lumpsum payment.
5. If you have absolutely nothing left, and are at the end of your tether, you need to seek police protection. But keep a copy of all notices and reminders because these notices specify a period after which the bank can take action against you.

http://maccaan.com/gives some tips on how to handle threats from banks.

1. Call up the bank and complain bitterly about any harassment from DRA's.
2. Threaten litigation if need be.
3. Go to the nearest police station and file a complaint.
4. Keep a tape recorder handy. In the tape, try to get the agent to clearly state what he wants from you, what bank he is from, his name, and his agency's name. It is important to keep proof of all threat calls. Even better, install a camera in your home if loan recovery agents dare intrude there!
5. You can sue the bank individually, if you have the resources.
6. If you do not want to get involved personally, approach a consumer action group.

Banks have a responsibility
Banks need to be different from moneylenders of yore. Giving loans knowing full well that the party is not credit worthy is unprofessional, whether deliberate or not. Sure, banks can make a mistake, a genuine mistake. But the way many banks are running their personal loans business makes me suspect that everything isn't above board.

In some cases, they may have given the loan to a credit-worthy person, but an unforeseen situation like a sudden health expenditure, job loss or death, or a collapse of a business could have made it difficult to pay back the loan. But in such situations, things can get sorted out, although with a lot of heartburn. In such cases, the banks and the borrowers need to hammer out a solution and this is in their own interest. Not caring whether the defaulter lives or dies is unforgivable.

What are the banks not allowed to do?
Well, debt recovery agents (DRA's) are not allowed to enter a person's home without permission. And they have to carry an identification card with them at all times. Also, RBI rules lay down that the state DRA's can contact customers only between 7.00 a.m. and 7.00 p.m. and has to maintain civil discourse. The customer is not to be humiliated publicly or in front of his family members.

What should borrowers do?
has some good advice for those who find it difficult to pay back the money they have borrowed. They say:

1. Avoid giving post-dated cheques to banks because if a cheque bounces, it is a criminal offense and the punishment can be a two year jail term. This gives the lender an even greater leverage over the borrower.
2. As soon as you realise that you have a problem, discuss the issue with the bank, even before you default on a loan payment. Its not just the DRA's you have to fear, but mounting interest rates. This can be particularly bad if it's a credit card payment which is not paid on time.
3. If necessary sell off assets. If selling off the asset means you have to go into a smaller house, so be it. But remember that if you default and you have mortgaged your property, you lose even items inside your home.
4. If things go so far that the bank sends you a legal notice (after reminders have failed to elicit any response from you) then you need to talk to the bank immediately. Try and reach a settlement. If you can convince the bank that it is a temporary problem, that you are still credit-worthy and if you have a good re-payment record, your bank could agree to a compromise. They could either agree to to re-structure the installments, or settle the matter by accepting a smaller amount in a lumpsum payment.
5. If you have absolutely nothing left, and are at the end of your tether, you need to seek police protection. But keep a copy of all notices and reminders because these notices specify a period after which the bank can take action against you.

http://maccaan.com/gives some tips on how to handle threats from banks.

1. Call up the bank and complain bitterly about any harassment from DRA's.
2. Threaten litigation if need be.
3. Go to the nearest police station and file a complaint.
4. Keep a tape recorder handy. In the tape, try to get the agent to clearly state what he wants from you, what bank he is from, his name, and his agency's name. It is important to keep proof of all threat calls. Even better, install a camera in your home if loan recovery agents dare intrude there!
5. You can sue the bank individually, if you have the resources.
6. If you do not want to get involved personally, approach a consumer action group.

Banks have a responsibility
Banks need to be different from moneylenders of yore. Giving loans knowing full well that the party is not credit worthy is unprofessional, whether deliberate or not. Sure, banks can make a mistake, a genuine mistake. But the way many banks are running their personal loans business makes me suspect that everything isn't above board.

In some cases, they may have given the loan to a credit-worthy person, but an unforeseen situation like a sudden health expenditure, job loss or death, or a collapse of a business could have made it difficult to pay back the loan. But in such situations, things can get sorted out, although with a lot of heartburn. In such cases, the banks and the borrowers need to hammer out a solution and this is in their own interest. Not caring whether the defaulter lives or dies is unforgivable.

He said that even the recovery agents could not be blamed as they were under pressure from banks and sometimes resort harsh methods of money retrieval.

However, Maccan does not take up cases of persons who avail multiple loans and credit cards with an intention of defaulting.

The organisation was started three months ago and now consists of seven active members. People seeking advise can call at Ph: 64607777.

Notes to Editor

MACCAAN is an independent organization catering to the financial needs of the people. Hence Maccaan not only offers just counseling but legal solutions to credit problems.

MACCAAN the name stands for strength and liberation. The strength to carry your burdens on our shoulders and free you from the clutches of loan related afflictions. We offer valuable and practical solutions to your problems and help maintain your self dignity, mental and physical well being. We strive to assist the vulnerable clients from their financial crises by providing appropriate legal measures to combat it.

OUR PANEL

Our experts consist of professionals from different walks of like who believe and endeavor to liberate the harassed public from the drudgery of credits. The core team consists of financial experts with more more than fifteen years of experience in the banking sector.

MACCAAN the name stands for strength and liberation. The strength to carry your burdens on our shoulders and free you from the clutches of loan related afflictions. We offer valuable and practical solutions to your problems and help maintain your self dignity, mental and physical well being. We strive to assist the vulnerable clients from their financial crises by providing appropriate legal measures to combat it.

OUR PANEL

Our experts consist of professionals from different walks of like who believe and endeavor to liberate the harassed public from the drudgery of credits. The core team consists of financial experts with more more than fifteen years of experience in the banking sector.

Atul Khekade, who began his entrepreneurial journey with Innovation Trip and with just $2,000 in his pocket, is the chief executive officer of Airnetz Charter Inc., a private aviation service scheduler that currently clocks a turnover of Rs 5 crore annually. Of course like all start-ups with stars in their eyes Atul too had his share of failures and challenges.
Here, drawing from his own personal experience, he emphasises that start-ups that began operations recently and employees who have been laid off still have hope if they want to become an entrepreneur.

The global recession has meant that large corporates worldwide are downsizing their staff, production and expenses. Even some of India’s [ Images ] biggest companies have laid off several employees and might continue doing so in the coming months.

Agreed the economy is in bad shape. But remember great opportunities exist even if an economy is in bad shape. It is those who capitalise on these opportunities and sustain themselves even through tough times who will rule the economy in the coming years.

Folks looking to start a new business, Indian startups, small and medium enterprises, SMEs, need to look at the market in a positive way and find their way towards a great future.

Young entrepreneurs, start-ups as well as employees who have got laid off, should consider recession as nature’s plan to bring fresh perspective and new motivation to the world. Future leaders are current individuals who believe in change, globalisation, new strategies and innovations.

The trick to survive is…

The problem we all face is that, when the economy is making very fast progress, the basics are forgotten. When it is the recession, it is about getting back to the basics.

1. Serving the basic needs

Imagine every individual has some basic needs like food, shelter, clothes, healthcare, travel, electricity and water. When market is cutting down their spending, basic spending is always going to stay the same; it just needs more cost effective solutions.

Hence the opportunities coming out of the recession shall be: cheaper food, cost effective housing, cheaper clothes, cheaper travel and so on…

2. Using technology to scale

Technology is the way to scale. It is the technology that enables us to keep in touch with our friends. It is technology that lets us connect to millions of individuals, know and share information that would otherwise take years to reach — with the cost that every common person can afford. Businesses not just need to consume technology, but also use it to reach broader audience.

3. Staying global, thinking local

Recession puts business models at test. Recession is going to demand reaching maximum audience for the same investment in production happening in the local market. Anywhere in the world, basic needs of people remain the same. The trick is serving global audience with the product designed for local audience.

4. Cost control with bootstrapping

Venture capital is going to be hard to find, one needs to bootstrap the business with very less resources and still be able to provide the best service quality.

5. Less liability, more utilisation

Trick will be to lessen the fixed costs of the business, so even if the sales get affected for some time, it does not put burden on the company’s accounts.

India’s core strengths

India has witnessed impressive economic growth in the last decade allowing India’s youth to be equipped to take the recession head on. We have availability of all possible resources that shall help us to stay basic and simple and at the same time produce service and products of global quality at the lowest cost like:

1. Internet’s reach to remotest areas

India’s Internet infrastructure is a revolution. India has over 50 million internet users and increasing every year. Aggressive Wi-max expansion from companies like BSNL can quadruple the users in the next 10 years. This means that even the individuals from India’s remotest regions can now showcase and offer their businesses to customers based anywhere globally.

2. Mobile telephony services

India has over 246 million cell phone subscribers. This number is only second to China. It is said that all you need to run your business is an Internet and a cell phone. India has both of that in abundance. Some cell phone carriers allow calling US and Canada [ Images ] at just Rs 1.99 per minute! Even if you stayed in US and bought a prepaid cell phone, it will cost you Rs 5 per minute for an incoming and outgoing phone call.

3. World class infrastructure IS THAT SO? I THINK NOT?

India has experienced the world’s finest infrastructures. Malls, multiplexes, corporate parks, residential areas built in India are some of the best by global standards. Indians have already seen global infrastructure locally.

4. Global exposure of youth

Indian youth is travelling worldwide and serving customers already aware of the best global service standards.

Business opportunities in recession

In India: Food, power, water, education, local transportation

The Indian economy is not supposed to enter recession for the next 20 years at least. If one travels just a few kilometers away from our metro cities, you will find that people still don’t have basic facilities like electricity for 24 hours, water and education. Businesses that produce green energy, water storage and supply basic education shall have a healthy future.

Globally: Cost effective travel, food, legal services, healthcare

India is still one of the low-cost places worldwide, which puts us in great advantage to be direct solution providers for countries with stronger currency and less qualified manpower. Companies that just used to work as contractors for outsourced work can now become direct service providers, giving the solutions at an even cheaper rate. Legal services and healthcare is a great opportunity.

A self example

Some examples below to show how the above strategies are given best shot (take from my company internally).

We take private aircraft owned by corporate or individuals on a contract basis, instead of ordering new ones, reducing our liability. This way we have added thousands of aircraft to our network
The automated aircraft arrangement system supports over 25,000 airfields worldwide. And while the business is headquartered in India, we serve customers from any remote global area
To make use of over 400 private and civilian airfields in India for private travel, we are adding cost effective planes (single and twin engines) to our network with the help of third party operators aiming to provide private flying solutions at the same cost of commercial flying with an added flexibility of flying ‘anywhere, anytime’
Cost effective setup with total automation, less liability, global service

The bottom line is that India’s youth does not need to get affected by the whole media hype about global recession.

The best opportunities are out there in the market right now and all one needs to do is find them.

If you want to fulfil your dream of landing on a foreign land for greener pastures, come to this small village called Talhan in Punjab [ Images ], offer toy plane to the local gurdwara and your dreams might turn into reality.
It sounds amazing, but after witnessing a large number of devotees, seeking greener pastures abroad, heading towards a gurdwara devoted to Sant Baba Nihal Singh Shaheedan in Talhan of Punjab’s Doaba region, one cannot find any reason not to believe this.

Thousands of individuals in the Doaba region hold this holy shrine in high esteem. And, these devotees include many of those who have long been nurturing a dream to get a visa to go abroad but couldn’t get it.

The popular feeling about this gurdwara is that anyone offering a toy plane here can have his or her wish to go abroad fulfilled. Hence a lot of people visit this holy shrine and make a wish to go abroad.

For this, the devotees make an offering of toy planes; inscribed with names of different carriers. Devotees buy these toy planes from the shops outside this gurdwara and they offer it to Sri Guru Granth Sahib.

It all started a few months back, when the word spread that wishes of settling abroad would be fulfilled if one offered a toy plane at the shrine.

On Sundays, about 40-50 planes are offered. In most cases, devotees who wish to fly to a particular country offer a toy plane of the airline of that country. In Doaba region, where going abroad is dream of most people, a large number of people have an unshakable faith in the gurudwara.

“I was trying to go to abroad for a long time. I heard a lot about this gurudwara, that if Akhand Path or prayer is organised here, all your wishes are fulfilled. I have come here to offer my devotion. I am thankful to this place, as my wish of going abroad has been fulfilled,” said another devotee. “I went to Germany [ Images ] two years back. I decided to offer a toy plane at the gurudwara when I come back from there, as my wish of going abroad was fulfilled,” said one devotee.

It has become a difficult task for the gurudwara authorities to store so many toy planes. Punjabi youth, who dream of greener pastures abroad, come in large numbers after they hear stories of wishes of their friends to settle abroad being fulfilled after they offered planes at the Talhan Gurudwara.

“Whenever somebody’s wish of going abroad is fulfilled, they come here at the gurudwara to offer a plane. Punjabis from all parts of the world - England [ Images ], America , Canada [ Images ] and many other countries come here,” said one young devotee.

“Our family has organised Akhand Path at the gurudwara. I had a wish of going abroad. I came to know that people come here to offer a plane if their wish of going abroad is fulfilled. So, I have also come here with a wish and if it gets fulfilled, I will also come here to offer a plane,” said another youngster.

For the Punjabi youth, spending 3 to 10 dollars in buying a toy airplane hardly matters, if it increases the possibility of ultimately realising a million-dollar dream.