35 cities to get radiation meters

Wiser from the Japanese experience, the government is set to mandate installation of dosimeters — that measure radiation — in 35 large cities, apart from stipulating that home loans and infrastructure lending be available only to projects compliant with national disaster preparedness norms. These are expected to be finalized at a special meeting of the (NDMA) on Wednesday to be chaired by Prime Minister Manmohan Singh.

The meeting will review and approve several measures for nuclear disaster preparedness, including all the safety issues being looked at by Department of Atomic Energy and Atomic Energy Regulatory Board. The government will also approve several new responses to chemical, biological, radiological and nuclear (CBRN) threat. The government proposes to install dosimeters in 1,000 police stations across 35 cities with over a million population in the first phase, officials said. Besides, the number of personnel trained to tackle CBRN disasters will also be significantly stepped up by NDMA.

Sources said NDMA will present a nationwide exercise calendar to prepare at various levels for major disasters such as a radiation leak, an earthquake or a terrorist attack. According to a detailed calendar thus drawn up, the NDMA is set to carry out exercises in northern states in the first phase.
Sources said NDMA, under the chairmanship of the PM, has already prepared draft guidelines to link bank finance for housing projects to National Building Codes that stipulate safety measures including earthquake resistant construction. Earlier this month, RBI circulated the guidelines to banks, suggesting that housing loans be linked to compliance with building codes.

Sources said the PM-chaired meeting could now take it to the next level by deciding to issue guidelines on bank finance for all infrastructure projects to disaster preparedness. The move would be of particular relevance for power, ports and airports, which are worst hit in case of calamities.

Apart from lending, there is also focus on enhancing disaster risk coverage through moves such as catastrophe bonds and specific reinsurance which would be used to pay compensation to victims. Already, countries such as Japan, Indonesia and Turkey have a dedicated catastrophe risk pool, which is tapped by insurers to pay claims. General Insurance Corporation of India, that provides reinsurance for all non-life and high value life insurances, is already in talks to be part of the Afro-Asian catastrophe pool that is in the works. A catastrophe risk pool could also push up the annual insurance premium.

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Govt bid to give figure to black money

The government has commissioned a study to be undertaken by three top economic think tanks to estimate the extent of black money or unaccounted income generated both within and outside the country, a finance ministry statement said on Sunday. On Saturday, the government had appointed a high level committee of tax officials to suggest measures to tighten laws to curb the generation of black money. The UPA government has faced strong criticism from courts, Opposition parties and civil society groups for its handling of the issue of black money and corruption in public life. The government has taken some measures to stem the criticism and has engaged with authorities in tax havens to get information about money stashed in these countries.

The three institutes selected to undertake the study are National Institute of Public Finance and Policy, National Institute of Financial Management and National Council of Applied Economic Research. The finance ministry statement said the three institutes had launched their study in March and are expected to complete the project within 18 months. The study is expected to bring out the nature of activities that encourage money laundering and its ramifications on national policy.

The study will also focus on the kind of activities which promote money laundering and identify important sectors of the economy in which unaccounted money is generated and causes and conditions that result in the generation of unaccounted money. It will also examine methods employed for generating black money and conversion of such funds for legitimate activities.

The three institutions have also been asked to suggest ways and means for detecting and preventing unaccounted money and bring it into the mainstream economy. They have also been given the mandate to suggest methods to be used for taxing black money stashed in foreign countries. The study will also estimate the quantum of non-payment of tax due to evasion by registered corporate bodies.

The government has so far maintained that there are no reliable estimates of black money generated and held within and outside the country . It says the different estimates of the quantum of black money range between $500 to $1,400 billion. A study by the Global Financial Integrity Group has estimated the illicit outflow at about $462 billion . The finance ministry says these estimates are based on largely unverifiable assumptions and therefore the government has undertaken the study to find out the actual size of the black economy.

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EBay and PayPal take a legal action against Google for stealing trade secrets

Battle Hots Up For $1Tn Digital Wallet Pie As Search Engine Launches Its Payment System

EBay and its online payment unit, PayPal, on Thursday sued Google and two executives for stealing trade secrets related to mobile payment systems.

The two executives, Osama Bedier and Stephanie Tilenius, were formerly with Pay-Pal and led the launch of Google’s own mobile payment system in partnership with MasterCard, Citigroup and phone company Sprint on Thursday.

The suit highlights the growing battle by a wide range of companies from traditional finance to Silicon Valley trying to take a major stake in what has been described as a $1 trillion opportunity in mobile payments. The mobile phone is seen as the digital personal wallet of the future.

The eBay suit said Bedier worked for nine years at Pay-Pal, most recently serving as vice-president of platform, mobile and new ventures. He joined Google on January 24 this year.

Tilenius was at eBay from 2001 to October 2009 and served as a consultant to the company until March 2010. The suit says Tilenius joined Google in February 2010 as vice-president of e-commerce.

Bedier is accused in the suit of having “misappropriated PayPal trade secrets by disclosing them within Google and to major retailers”.

The suit accused Tilenius of recruiting Bedier, thereby breaking a contractual agreement with eBay. It also claims Bedier attempted to recruit former colleagues still at PayPal.

Ebay said PayPal and Google worked closely together for three years until this year on developing a commercial deal where PayPal would serve as a payment option for mobile application purchases on Google’s Android phones.

It said Bedier was the senior PayPal executive leading and finalizing negotiations with Google on Android during this period.

It also claimed Bedier transferred up-to-date versions of documents outlining PayPal’s mobile payment strategies to his non-PayPal computer just days before leaving PayPal for Google.

“By hiring Bedier, with his trade secret knowledge of PayPal’s plans and understanding of Google’s weaknesses as viewed by the industry leader (PayPal), Google bought the most comprehensive and sophisticated critique of its own problems available,” the suit said.

Google spokesman Aaron Zamost said the company had not yet received a copy of the complaint would not be able to comment until it has had a chance to review it.

Google and PayPal have battled in the recent past in online payments via computers with the launch of Google Checkout in 2006, but Checkout has had a minimal impact on PayPal’s market dominance.
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No Higher Research in IITs And IIMs according to Kapil Sibal…

Best Colleges for Vocational Courses in India

Union Human Resources Development Minister Kapil Sibal on Wednesday lamented the lack of attention towards researchactivities by premier institutions such as the Indian Institutes of Technology (IITs) and the Indian Institutes of Management (IIMs).

Union Human Resources Development Minister Kapil Sibal

Talking to mediapersons here during his visit to Gujarat, Mr. Sibal avoided a direct answer on the controversial statement by his Cabinet colleague — Environment Minister Jairam Ramesh — on the IITs and IIMs, but said these institutions so far focused only on churning out graduates and paid little attention towards research. “When IITs were set up, majority of courses were of B. Tech.,” Mr. Sibal said, adding that M. Tech. was never a priority in the initial phases.

He said most of the courses were targeted to churn out graduates. He further observed that the brighter students who wanted to go for research completed their courses from these institutes and then moved abroad to pursue their interest. He pointed out that as compared to United States and China, which allocated $250 billion and about $60 billion respectively for research, in India the allocation for research was only about $8 million. However, he expressed happiness that the number of students in post-graduate courses in theses institutes had started growing now which further opened the scope for research.

Mr. Sibal took a dig at the Narendra Modi government for not taking adequate steps to implement the Right to Education Act (RTE). He pointed out that though the RTE was enacted last year, the Gujarat government had not even finalised the norms for the neighbourhood schools.

Gujarat, he pointed out, also had so far not constituted the State Commission for Protection of Child Rights (SCPCR). He said that in spite of the government’s tall claims of success in the “Vibrant Gujarat Industrial” summits, more than 1.62-lakh children, largely from the disadvantaged section of society, were still out of schools. The State was also lagging behind the national rate of enrolment of the girl child in schools. About 50 per cent of the schools for the girls did not have the toilet facilities for the students.

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When India attained Independence, only 14-15% of the population of 300 million was literate and today 74% of our billion plus population are literate. Today, we have 45 million graduates in the country and hardly 1-2% skilled labour force.”

Kapil Sibal, Union minister for human resource development, who made these worthy observations in Ahmedabad on Tuesday, was greeted with thunderous applause by a packed auditorium.
Sibal was in the city on Tuesday for the the 31st Vikram Sarabhai Memorial Lecture. He spoke on ‘Education and Social Change’.

In his lecture, Sibal highlighted the fact that the mindset of the people needs to be changed to improve the quality of education.

Sharing some figures about India and education, he said that out of 100 children, only 18 complete their schooling and 14 million of the total population finish their graduation. “With such figures, where are we heading?” asked Sibal. He further explained the difference between developing and developed countries; that in the latter growth enrolment ratio (GER) is high, which India needs to achieve. Also, Right to Education has a great role to play in increasing the GER.

About the Indian population and its institutions, he shared that the present Indian population is served by only 30,000 universities and institutions.

Mr. Sibal said  we need 45,000 more colleges and institutions to keep up with our ever growing population.  This means that more investment in education is required.”

He further spoke about his plans to set up a National Vocational Qualification Centre, which will have 10 levels of certification.  The purpose of this is to free the mind of the students and increase the choice for the children. In this qualifying centre, the 10th level will be equal to a doctorate.”

On maintaining the quality of education, he said that a uniform framework is important.

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IIPM Mumbai Bid Farewell to the batch of PGP 2009 – 2011/ SS by organising a bash at Hotel Suba International in Mumbai. The farewell party for the batch of PGP (09-11)/SS saw students in a spirit of euphoria as they spent the night catching up with class mates and teachers. Bidding good bye is hard, but IIPM Mumbai ensured that it was memorable.

The farewell party started off with the Award Ceremony whereby students who excelled both in academics as well as in extra curricular activities were awarded with certificates and prizes. The Director’s Gold was awarded to Vasundhara Khajuria & The Director’s Silver was awarded to Kalpak Bhinde for their outstanding performances both academically and in extra – curricular activities.

Faculties who made an outstanding contribution towards shaping and molding the students were awarded as well. After the award ceremony the students burned the dance floor, swinging to the music and celebrating. There was endless music, enjoyment, shutterbugs clicking snaps and of course the grand array of food that made the evening perfect.

The students had fun as the occasion marked the end of their togetherness and college life, and welcomed a new beginning into the Corporate World.

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