FLY HIGH WITH EVE’S TIMES! <---

FRIENDSHIP MATTERS

A faithful friend is a strong defence; and he that hath found such a one hath found a treasure. A faithful friend is the medicine of life- The Bible

Many a friendship, long, loyal and self-sacrificing rested at first on no thicker foundation than a kind word. Friendship is an art and it requires a lot of care and nurturing to last a lifetime. The entire world is celebrating Friendship Week. Yet, today the concept of friendship seems to have undergone a major makeover. Earlier, friendships were enduring, intense and were laid on strong foundations of love and understanding.

What is it that keeps friendship ticking?   Only long-time friends can throw a light on this.

 Arjun Karthik and Vijay, college students say, “We have common interests, goals and ambitions. We work hard together with great understanding.”

“For friendship to endure, it is important to be in constant touch. We go out and have fun together.  We communicate with each other often, through SMS, phone or meet up . Whenever you are in trouble, it is with the friend you  open up. Even today  I had a problem with my cell. When I told Rajesh he immediately called back and informed that someone was coming over to my house to set the handset right. He had arranged with the company without even asking me. Rajesh is a very helpful person. Not only to me but also to everyone, he extends his helping hands,  without expecting anything in return. Not all friends are like this,” says Archana, a student from Chennai.

“Friendship transcends the barriers of age, status, gender and ethnicity. We tend to  think that a friend  is a person who rises up to the occasion to help us when we are in trouble and shares our happiness and sorrows. But understanding is very important in friendship. Money matters should not come between friends,”  say Nivedita and Beejal, from Hyderabad, partners in a venture together.

“Nivedita is a friend whom I can depend upon anytime. Both of us are correct about money matters. We have not  had differences of opinion as far as money is concerned. Of course, when you conduct an event, there are times when tempers flare up and we have had our fair share of arguments. But we know that it is all in the game,” discloses Beejal casting a fond glance at her friend.   

A friend is a person to whom you can disclose your innermost thoughts and share your secrets. You can share much more than you even share with your husband or family. I know that if I tell Nivi something she will not talk behind my back or disclose it to any one. A friend is one whom you can trust and Nivi is just that.

Minaz and Parul, working women from Mumbai believe in having  great fun together, whenever possible. “We go off on holidays with our children. Last time we went to Colombo—just the two of us. Everyone was surprised to see two women travelling alone and having great fun. We work hard round the year and then have fun together to get back the zing in our lives.”

Call it mellowing with age, cynicism or the discerning views of the middle-aged, but this is what Maya has to say about friendship.  “ Today, friendship seems to be a fad. Meeting friends in the coffee pubs, sharing a coke , pizza or popcorn in theatres and sending SMS seem do not denote friendship.  There seems to be no depth or intensity in such ‘friendships.’ Moreover, today people seem to make friends after evaluating how much a person is willing to spend, if he or she can get gifts, of what advantage he or she could be, status, popularity and various other superficial factors. I don’t think such friendships can endure for years together. We have to wait and see if the friendships of the younger generation will continue  or not.”

While the debate about true friendship rages on, unmindful of the skepticism in certain quarters, friends are having a ball. Beejal  celebrated Friendship Day last year by taking out all her close friends to a movie and a lunch after that. Nivedita and Beejal believe in treasuring friendship, nurturing the bond of love and understanding.

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TITANS OF THE SOUTH

The ambience is upbeat after the elections and the budget. Well, not everything is hunky dory . The fear of the upshot of the increase in petrol price  reigns supreme in our minds. Yet, the budget has not been unkind to the common man. A few avenues to contend with the soaring prices and put by some money  leave a sense of comfort.  We find the situation appropriate to bring to you an inspiring feature which will give us all the courage to dare to dream. We believe in bringing to you real people who have achieved much in one short span of life, vanquishing innumerable hurdles, working out smart strategies and traversing the path of success with élan and confidence.

KPR, as he is fondly known, is an apt example of the rags to riches story from this side of the country. While he tried to expand his horizon by giving vent to his penchant for social endeavours, participating in the recent elections, at heart, he is an entrepreneur who has laid the foundation for a global enterprise. Supported by an unassuming but  determined and dauntless wife, Latha, Ma Foi is on its way to set trends in the global arena as an exemplary HR service provider.  

TRUST MY WORD

The seeds of an international enterprise were sown years ago in a small match factory in Vilampatti village in Sivakasi district, Tamilnadu. Growing in the region of  an amazing 70% per annum, without much ado,  Ma Foi , the largest HR service provider and staffing company in India and  one of the top such global enterprises,  was launched on  the memorable day of Aug 15 1992.  Behind this venture which has seen several planned and strategic turning points since that day, lie the grit and determination of a couple whose dream was to create an Indian MNC based on the pillars of integrity, dignity,  growth, transparency, diversity, professionalism and  accountability.

Meet K. Pandia Rajan, Managing Director Ma Foi Group and Randstad India   and Hemalatha Rajan,  Director , Ma Foi Management Consultants Ltd., the amazing couple behind this enterprise which is well on its way to emerge as the global leader in the HR service industry.  The story of  the beginnings of Ma Foi is no different from Infosys , Reliance  and other such organizations in that it started its operations with a  humble capital of Rs. 60,000/- in a “small shack of a place.” But what makes them different from most other entrepreneurs is that they not only nurtured global dreams, but also were determined to lay the foundations of a thoroughly professional enterprise that stood for integrity. When they named their enterprise, ‘Ma Foi,” which in French means, “ My Word,” ( implying trust), PandiaRajan  and Hemalatha’s plan to capture the global market   had already  started rolling.  

Today, Ma Foi is  a group holding company of Randstad Holdings nv with a  growth in  revenue  to the tune of Rs. 4311.10 million ( 2007) Ma Foi is  present in 14 countries through 122 offices in  India, UAE (Dubai & Abu Dhabi), Bahrain, Kuwait, Qatar, UK Singapore, Sri Lanka, Malaysia, Oman, USA, Thailand, Hong Kong and China.

The son of a worker in a match factory in Sivakasi, Pandia Rajan lost his father when he was three months old and was brought up by his mother and grandparents in a joint family of about fifty members . His grandfather was initially a cook but he started a small match factory with Pandia Rajan’s uncles. A bright young boy and a brilliant student, Pandia Rajan studied in the Victoria School in Sivakasi  while working in the family match factory. He went on to do engineering from PSG College of technology, Coimbatore.

A strike in the engineering college where he was a member of the Student’s Union changed the course of his life when it turned violent. “ I learned how people who are sane as individuals go berserk as a part of the mob. It left a deep impact on me. I could have been banned from appearing for my exams despite being a rank holder,” he reminisces.  It was  a traumatic phase in his life and impelled him to do M B.A in PM    & IR from Xavier Labour Relations Institute, Jamshedpur. 

Pandia Rajan worked for six years  in British Oxygen and Idea, an engineering consulting company during which period he was greatly influenced by his boss and mentor Dr. V. Krishnamurthi. He also met Latha, a chartered accountant in Kolkotta who was auditing  his firm.  Latha hails from a middle class family of teachers.

His business jaunts and experiences on the job enabled him to realize the immense potential  an HR Service Provider had  globally. Pandia Rajan got married to Latha and both decided to come to Chennai to set up an enterprise. While Pandia Rajan went about laying the foundations of Ma Foi, Latha was a partner in an audit firm , to keep the home fires burning.

At a time when there were many  placement agencies whose identity in the minds of customers used to be fairly low and stigmatized, Pandia Rajan and Latha set up Ma Foi with a mission to  ‘ to emerge as the most respected HR Service Provider in the world, anchored on values of growth , dignity, transparency and diversity.’

Ma Foi underwent four phases of growth since inception. The first phase of seven and a half years till 2000 was one of pure entrepreneurial growth and expansion.  Some of their investors were shop floor supervisors  in match factories in Sivakasi who invested their life time savings of 5,000/- each. There were also  classmates of Pandia Rajan from his elementary school, engineering and MBA classmates and Latha’s CA batch mates.          “  Those days  when FDs fetched 14%- 15%  interest, we committed to pay 20% dividend. We have always kept our end of the bargain and in fact we gave them three bonus issues as well, ” says Pandia Rajan

“ Our investors were not institutional investors or organized players. Latha and I have been blessed with good friends. Even today we remain deeply connected with them,” he says.

The second phase from 2000-2004  was the dot.com phase. They were the first to create a portal called mafoi.com. Their equity valuation shot up to Rs 325-/- Three venture capitalists came forward to support Ma Foi which registered a boom in terms of scale, scope and depth, with higher   investment and technology, infrastructure, people and new offices in UK, Singapore.  However the dotcom bust followed and their equity valuation shot down. They had to  rework  their business model  six  times. It compelled them  to open newer business  possibilities such as career training, Ma Foi Academy , deputation business, HR research  etc. The growth during this period was 52% and money was also invested in brand building, which greatly enhanced their visibility.

The third phase in their growth  was based on the expansion of their overseas operations  and they decided to look out for a global strategic partnership. They entered into a partnership with Vedior, a multi-brand company from the Netherlands. Vedior holds major stakes in the Ma Foi Group.  With Vedior’s support Ma Foi set up offices in countries across the globe.

Ma Foi are into their fourth growth phase when Randstad Holding nv  became the legal successor of Vedior NV following the merger in July 2008.  Since the acquisition of Vedior in 2008, the Randstad Group is the second largest HR services provider in the world with major positions  in many countries..

With  a cumulative growth rate of  about 70%  the Ma Foi group is one of the fasting growing companies  in India and it has retained its position among the top five for the last 16 years.

Ma Foi has  been steadfast about its values. Transparency  in all their endeavours is their strength. Every employ can get to know about the profits of the company with the touch of a button. They also share a percentage of their profits with their employees. Similarly by choice and design Ma Foi stands by diversity in gender and nationality  of the employees who hail from different parts of the world . Some of their employees have grown with them since inception and are holding senior positions. .

 “ More than anything else, our investment in people has helped us reach this far. Right from day one we involved every one in our organization in all our deliberations and discussions so that they develop a sense of co-creation and a sense of ownership  Most people who are in the top management today have been with us from the beginning. We grew together professionally,” says Latha.

Ma Foi is on its way to outdo the government with a plan to arrange recruitment of one lakh twenty thousand employees in 2009, which comes to  a twenty thousand target per month. Apart from permanent recruitment, they also do contract staffing  and have a staff strength of 50,000/- who work flexi – work.

Ma Foi has also set standards in Corporate Governance and Corporate Social Responsibility. The Ma Foi  Foundation established  Disha,  with a singular focus on education for underprivileged children. To address the issues of health care the Foundation put together a team of pediatricians, doctors, social works and tied up with hospital to form a medical network. They are now looking at medical insurance for under privileged children. They also started empowering women and youth by exposing them to various vocational training and gave them crucial employable skills to uplift them economically. Their Sornammal Trust runs a school and offers Disha scholarships for underprivileged children. They also give awards to young achievers m every year.

Latha’s  counsel to budding entrepreneurs and aspirants, “ Along the path we had had to struggle a lot. But what is important is if you are able to hold on to the enterprise for five or six years and continue to doggedly pursue your organizational goals,  keep investing  in the enterprise, all the time  keeping  your values intact,  it will attain  a certain core stability and moving forward becomes much easier. The confident level starts shooting up. Entrepreneurs need to be creative too.  And value diversity. You have to make a difference in some way and constantly keep working together to achieve your goal. Think differently and work with different kinds of people.”

Ma Foi has laid the foundation for a global organization that churns out a greater wealth of productive human resources.  What makes it even more laudable is that it rests on the strong foundation of sound values. Ma Foi stands for all that an ideal organization should be in terms of wealth creation, productivity and growth with a humane and employee-centred approach.

-  By Swati Amar

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FOR THE LOVE OF LAW

What do you love about the law, Andrew?

It's that every now and again--not often, but occasionally--you get to be a part of justice being done. That really is quite a thrill when that happens.

(Dialogue from the court scene in the motion picture Philadelphia, 1993)

For most people, the word ‘lawyer’ triggers the image of a portly man with a beer-belly (that is sufficient testimony to the fact that lawyers are just plain greedy, be it for money or food), clad in a long black robe, with a hideous wig on his bald head that is swollen to accommodate all that vacuum. Students who couldn’t clear the medical entrance exam or even the engineering entrance exams, were packed off to law-school, where they managed to while away a good fraction of their college-lives indulging in various forms of—uh—‘law-breaking activities’. Law school was the home of the wastrels, the un-ambitious fools who hadn’t a clue as to what they intended to do with their lives.

However, over the span of a few decades, this has vastly changed. Now, there is a huge demand for lawyers in every field, and we see smartly dressed young law-graduates carrying Blackberries and Mac Notebooks, working for transnational conglomerates, in corporate law-firms, and even arguing in the court. Lawyers are not the greedy avaricious, corrupt, portly, beer-bellied fools anymore.

Why should one study law?

Well, the answer is plain and simple, and I am going to list this out in points for you.

1. To start with, there’s no better education than legal education. In law school, you don’t just sit and blindly mug sections of the Indian Penal Code or the Indian Evidence Act. No, you do a lot more than that You learn. You think. And you analyze. The amount of thinking, brain-racking and analyzing you’re forced to do in law school, even supersedes the amount of logic you’d have to apply in engineering. I guess it is for this reason critical reasoning forms a vital component of the law entrance examination (the Common law admission test). At the end of the exhaustive five-year course in law-school, you’re equipped with analytical and critical reasoning skills, good communication skills, excellent leadership skills, the ability to work in a team, and the ability to cope with stress and pressure (because you’ll be facing a lot of that in law school. Trust me, it’s no cake-walk).
2. Secondly, law opens up a million opportunities. Law firms are waiting with bated breath for law graduates, and they scoop them and offer them an irresistible package with attractive perks that no one could possibly refuse. There are various branches of law—corporate law, criminal law, international law, immigration law, family law, constitutional law, patents and intellectual properties, and human rights, to name a few. One can opt for any of these fields. Moreover, a lot of foreign law firms have recently started visiting India, and the top students from law-schools are handpicked and posted abroad. There is also a great demand for lawyers in International Organizations, especially those affiliated to the United Nations.
3. Thirdly, after studying in law school, one need not necessarily become a lawyer. As said in point number 1, law school gives you all the skills required to work in any field (except engineering and medicine). It is the best education any one can get. Several students have done an MBA after law (which is a very good combination) and have trotted into various corporate enterprises.
4. This might sound cheesy, but the money is good. The pay is amazing, and it’s worth every bead of sweat you put into your work. Law firms are keen on recruiting young graduates fresh out of law school. The pay and the perks that come with it, is too good to believe. You get a lot of incentives in the form of high-tech gadgets, business class tickets, and even a car in some cases. There is one downside though. The work and the pressure. Working in a law-firm is hard-work and one would have to get used to the late-nights in office, the heavy workload, and the high-stress life that lawyers have accustomed themselves to.
5. There is always a continuous demand for lawyers. Even when the economy is in turmoil and the recession is at its peak, there has been no decrease in the number of law graduates recruited.
6. No one can mess with a law-student. They’re too smart-mouthed, and they know their stuff. They are taught to spot weak arguments and play around with words and make one feel like a huge idiot with their wit.
7. Law school is fun. It’s a mélange of fun, and probably a bit of hard-work. Heated debates, moot-court competitions (mock court sessions), writing papers for law-journals and internships with NGOs and lawyers would constitute most of your time spent in law-school. But there are several parties, concerts, fests and activities to compensate for that. Moreover, you don’t have to study in law school, (pulling an all-nighter before the exam will suffice, trust me) since it’s more about understanding, thinking, and analyzing. And the friends you make and the amount of fun you’ll have in the hostel (flouting the hostel-rules) is indescribable. At law school, you’ll always live life on the edge, and you’ll have so much fun, there’s no word for it. Law school will teach you to loosen up, to sneak in after curfews, to climb gates and walls, to sneak out of the University at 2.am and buy a snack, to stand up for your friends, to learn how to deal with adversities. Law school will equip you with a ton of patience, endurance and tolerance. Law school will teach you to form opinions, to take a stand, to stand up for what you believe in, to raise your voice, to demand for your rights.

It’s an education no one should miss out on.  

Namrata, Law Student, National Law University

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WINDS OF CHANGE

The cycle of time has intrigued man since time immemorial. The universe has witnessed the rise and fall of kingdoms, countries, wars, riots and the birth of remarkable mortals who played  major roles in making or breaking societies, and those who , during one lifetime, have been able to influence the minds of huge populations across nations. There’s peace after storm, there is love after war, there is prosperity after droughts and famines and good follows evil. This has been the simple mantra along which the cycle of time revolves, albeit incomprehensible to man!

Change is in the air not only in the US but also in India, which is the only country that is populated by the highest percentage of youth. After the tumultuous economic and political scenario which has jolted the countries of the world out of complacence, hedonistic pursuits, mercantile motives and “I, Me, Myself,” syndrome, it is now time to initiate changes. Which is what seems to be gradually emerging, giving rise to a sense of hope and optimism.

In the Indian political scene, the upshot of the recent communal disturbances and the Mumbai terrorist attacks, apart from the widespread impact of corruption which seems to vanquish or control everybody’s  life, is a new awakening.  The aura of change is palpable.

Eve’s Times  lists  out  a few political aspirants among the new bandwagon of potential change makers who may or may not have the political acumen or experience that may seem necessary to run a huge democracy like ours characterized by inexplicable  diversity and  differences. But yes, some of them have witnessed successes and come from varied backgrounds. They are entrepreneurs, bureaucrats, bankers, social activists and artistes.  While these candidates are rookies as far as the political arena is concerned, they have proven successes in their callings and have well-meaning schemes and projects that can bring about the desired change in our society. Yes, they do understand that they may not be able to bring about immediate,  massive attitudinal changes among the voting populace, but yes, they can provide worthy options for those who would like to feel satisfied that they have voted for men and women of character. Eve’s Times is happy to introduce new and upcoming leaders who can make a difference to our society in the long run. 

Entrepreneurs in the Election Fray

FANNING THE FLAMES OF CHANGE

Thirty-two year old Maya Ramachandran, Director of Genlite Engineering, a diesel generatormanufacturing company is pitted against DMK veteran T R Baalu in Sriperumbudur. A counselor and social activist, she has decided to take the plunge as a candidate from the Humanist Party of India, which is a registered but unrecognized party.

The Humanist Party is an international party and has had a presence in India since 2003. "The purpose of the party is to develop a humanist and non-violent society, where different cultures can co-exist in peace. Our purpose is to transform the world," says Maya. The party, which has two lakh members, is fielding 20 contestants in various constituencies across the country. Maya was initially planning to contest from south Chennai, but decided not to, as independent candidate E Sarath Babu was contesting from there.  “We share the same values and purpose and therefore we decided not to cut into each other's votes," says Maya.

Maya Ramachandran joined the Humanist Movement (HM) in 2003 and worked as a Support sector member for almost 3 years. During this period, she helped initiate various projects in different parts of Tamil Nadu. With a background in clinical psychology Maya has been a counselor and has been involved with several NGOs. She has also been dealing with child sexual abuse, domestic violence and mental health.

“We believe money is the source of all problems. For us right now, our intention is not to buy votes but to get people involved in the political process. We believe that in a democracy   people should be involved in the political process.  We know it is going to be a tough fight but we are willing to face the consequences.“

Maya says that the major problem the country is facing is corruption. While the endeavour of the Humanist Party is to work for personal transformation, they also aspire for massive attitudinal changes among people which she says will take time. The idea is to evolve a non violent, peaceful society. Unless people with principles and intention to change the present corrupt set up get down to clean up the political system, nothing will ever change, she says. And Maya wants to do just that.

Food for All, Food for Thought

 “I know what hunger is. “It tears my heart when I see kids starving. We need to ensure that people do not die of hunger,” says E. Sarath Babu, the independent candidate from South Chennai Lok Sabha Constituency.

 “Serving someone food is an extremely satisfying feeling. The smile you get after giving good food to someone is an experience to cherish,” says this young alumnus of BITS Pilani and IIM Ahmedabad, who gave up lucrative  job offers to set up the enterprise, Food King. With a seed money of Rs 2,000/-, his venture today  has emerged as a 9 crore enterprise,   spread across several locations. Through Food King he desires to give quality employment to the poor. In the next 5 years he wants Food King to be a source of employment for 50,000 people by opening 400-500 branches all over the country. For 28 year old Sarath, his mother, who once sold idlis on the pavements of Chennai and worked as an ayah, is a pillar of strength.

“We cannot be a developed country if we leave the poor people behind,” says Sarath Babu who promotes entrepreneurship among the youth with great fervour.

“You cannot achieve anything if you brood over what does not exist. Even when I was asked to stand outside the classroom for not paying the fees, I used to listen to the lessons being taught inside because I understood that nobody, my mother, my teacher or I was responsible for the predicament I was in.”

For a boy who belonged to the poorest of the poor family, it is no mean achievement to qualify himself in the best institutions and win innumerable laurels and awards.  He was also selected as the Pepsi – MTV Youth icon for the year 2008. It is no mean achievement considering that the previous winners were  Anil Ambani for 2003, Rahul Dravid for 2004 ,  Shahrukh Khan for 2005 and  M S Dhoni, for 2007.

“God is giving me this fantastic opportunity to inspire youth so that they too can create more jobs, bridge the rural-urban divide and address social issues and make India shine globally.”  According to him,  we need developed Indians to evolve a developed India.   

NO MATCH FOR THE ERSTWHILE MATCHMAKER

Another amazing rags to riches story is that of Pandia Rajan who founded Ma Foi, basically an HR firm which has spread its wings in the global arena today. He too is an alumnus of BITS Pilani and is DMDK’s Virudhunagar Parliamentary constituency candidate. Hailing from a family of workers who toiled in the matches and fire-cracker factories of Sivakasi, the journey towards entrepreneurship and now to the political arena is replete with success stories at every turning point.

Pandia Rajan’s agenda is to secure the future of the people of his constituency by implementing One family- one permanent Job’ scheme because Virudhunagar’s primary businesses – Printing, Match box and Fireworks are facing severe crisis.

PROTECTING INDIA

Desia Paadhugaappu Kazhagam (meaning National Protection Party) a registered political party has  contested in the forthcoming parliamentary elections under the leadership of V. Kalyanam, erstwhile personal secretary to Mahatma Gandhi. N.S. Venkataraman, a chemical engineer by profession and Founder Trustee of Nandini Voice for the Deprived, a Chennai based NGO serving the cause of deprived and downtrodden is one of the contestants in the election.

According to this party, in recent years, the electoral battle in India is focused on political bickering and personal ambitions of politicians and their family members, which have made the common man in the country, feel unhappy and helpless.

In a democracy,  elections give great opportunity to the citizens to express their choice and have a quality of government that they would desire. For this to happen, it is necessary that in the elections , the concerned citizens who understand the seriousness and severity of the issues facing Indian democracy should come out openly and contest the elections to set the conditions right.

Clean politics is vitally necessary for healthy democracy that would protect the interests of the deprived and downtrodden in particular. Politics can not be cleansed without clean people getting into it.

Men like Mahatma Gandhi and Jayprakash Narain were able to do positive things and create an atmosphere that gave confidence to the people about probity in public life. But, today, the intellectuals and concerned people largely remain as armchair critics. This appears to be the real issue.

With the objective of restoring Gandhian ideology as the central theme in the forthcoming parliamentary elections, Mr. V. Kalyanam, Personal Secretary to Mahatma Gandhi has come forward to give a lead to the nation by supporting good and committed citizens, capable of meeting the Gandhian standards in private and public life to contest the elections.

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TAMIL NEW YEAR

THE NEW ALMANAC FOR PROSPERITY

The wheel of Time begins yet another intriguing journey as the first day of the Tamil New Year dawns on a propitious note. While time getencapsulated in calendrics there is no stopping the events that would unveil manifold experiences eliciting a gamut of emotions, responses and interactions in man’s life. This is the message our forefathers conveyed symbolically through an entire day of Varusha Pirappu celebration.

Our ancestors had developed an amazing system of encapsulating vast periods of time, which is our gift to the world. Even today, Tamilians employ a calender derived from ancient astronomical data, known as the ‘Tirukkanda Panchangam,’ for computing the age of the earth as well as the various geological and other epochs and the age of mankind. What most of us do not know is that this calendar contains a calculation of over three hundred millions of years for the age of the present earth since sedimentation occurred, and a period of more than eighteen million years since the first appearance of mankind.

The sixty-year cycle of Tamil Calendar was inserted into the Tamil Calendar system relatively late. After the completion of sixty years, the calendar starts anew with the first year. This corresponds to the "Hindu century". The Vakiya or Tirukanitha (Thirukkanda) Panchangam outlines this sequence. This year is known as “Sarvajith.” The total number of days in a Tamil Calendar is an average 365 days.. In temples and for day to day purpose 'Vakiya Panchangam' is used and for Astrological calculations 'Trikanitha Panchangam' is used.

The Tamil Calendar holds great significance and is deeply rooted to the faith of the Tamil Hindus. The calendar touches every aspect of their lives, especially in determining events such as marriage, birth and death, festivals etc. Major decisions such as career, purchase of property and other such important decisions are made on the basis of auspicious timings mentioned in the Tamil calander.

Varusha Pirappu ushers in propitious beginnings, which is symbolically embodied in the tradition of, “Kani Kannudal.” At the dawn of the New Year, staunch followers of our traditions get ready to cast their first glance at a mirror kept in the Pooja room in front of which is placed a tray bedecked with gold jewelry, fragrant flowers, gleaming silverware brimming with coins, jewelry, grains, thamboolam, coconuts, fruits like mangoes, bananas and plantains. Members of the families get up at dawn and cast their first glance at this mirror, which instills hopes of a prosperous future.

Early in the morning the entrance to the house is decorated with Kolam. The doorways are adorned with mango leaves to mark the auspiciousness of the occasion. After an early bath, the entire family prays together. Deities are offered fruits, sweets and flowers. Children take the blessings of their parents and elders.

In traditional households, the morning ritual of reading the new panchangam is followed by a drink of Neer mor or butter milk garnished with curry leaves, hing, green chillies etc or a sweet drink, panagam, made of jaggery, dry ginger power, and lemon, flavored with cardamom.

In the afternoon families go to temple and pray for peace and prosperity. The rest of the day is spent visiting various relatives, friends and exchanging New Year greetings. Presents given are money, fruits, betel leaves and areca nuts. Gifts are also given to domestic workers and others. Some families follow the tradition of, ‘Annadhanam,’ or feeding the poor. Business people generally start new account books for the ensuing year on this day. Bonuses are often paid on the eve of the New Year.

Since this festival marks the beginning of the New Year, the food prepared is very special, with particular emphasis on pulses and cereals. Veppamboo or flowers of the neem tree form a part of the gourmet fare prepared on this day. The highlight of the festival is the 'Maanga Pachadi' (a dish made of raw mangoes, jaggery and neem flowers), which is at the same time sweet, sour and bitter. This signifies all the different aspects of our life.

The usual spread for lunch on the day of Chittirai Vishu includes the sweet-sour-bitter mangai pachchadi with a dash of the neem flowers roasted in ghee and Kosumari which is a salad made of soaked green gram dal mixed with cucumber, coriander leaves, chillies and lemon, garnished with mustard seeds. Aamai vadai and payasam, often made with coconut milk, also find a special place in the menu for the New Year. Some households make delicious pal payasam. Some opt for Sarkarai Pongal made with milk. Poli, an Indian bread with sweet coconut filling is made for the New Year ’s Day.

A special rasam is prepared for the New Year, which may or may not include neem leaves fried in ghee. The usual vegetables for the day include the raw banana curry and a mor kozhambu made of pumpkin and cucumber pachchadi. In some homes, aviyal is made with an array of vegetables, mixed with spicy coconut paste and curds. The lavish lunch spread is complete with dal or ‘Ilaikku paruppu’ and appalam.

The significance of including neem flowers in dishes prepared for the New Year’s Day is to instill a balanced and philosophic outlook in life. ‘Life entails bitter as well as sweet experiences. So accept Life with equanimity,’ is the message that is subtly imbued in the chef-d’oeuvre for the day. There is also another belief that adding bitter neem leaves deters Lord Yama from entering the house, leaving us in peace to enjoy the fruits of our labor and life.

The New Year’s Day is considered auspicious for all kinds of activities. Beginning the day after, new activities are outlined for the ensuing year after the consultation of an astrologer or a panchangam, to select a suitable auspicious day and time. While following our rich tradition is a personal choice, it is definitely a very positive approach to embrace the optimistic aura that pervades the ambience and go after your dreams. Happy New Year!

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FLY HIGH WITH EVE’S TIMES! <---

SECURE YOUR FUTURE

Eve’s Times is happy to bring out our first article in our ‘Planning Your Life,’ series of articles, in keeping with our mission of providing useful information relating to contemporary lifestyle. After all, making a choice is in our hands! So go ahead and make your life easier. This is our special tribute to the senior citizens who have brought out country this far and given us a country where we can breathe, think and act with freedom!

The concept of retirement has undergone a sea change in the recent past. Retirement no longer means living the life of a recluse or languishing in solitude during one’s twilight years. For many senior citizens, life after retirement is a sabbatical of sorts with time spent on relaxing, reading, going to concerts and theatre, traveling, reestablishing friendships and ties with relatives and reviving their spiritual interest. For many it means just a change of job or profession.

Retirement does not mean sliding down the rungs of the lifestyle and status ladder anymore. Today people are savvy about the varying investment options available in the market that can ensure they continue to have the same lifestyle after retirement. Most people plan their investments in such a way that their post-retirement income matches their income before retirement. If your income after retirement comes to about two-thirds of your income before you retire, you can continue to maintain the same lifestyle that you have been used to before retirement. One third of your income would have been spent to keep your job going; the chief such expense being that spent for commuting, lunch and other such daily needs.

If you had bought an apartment or a house by paying installments , it not only ensures that you have a roof over your head when you retire, but it is also a valuable hedge against inflation. Repaying a home loan is an excellent form of saving. Unfortunately, for an entire generation of savers who are on the verge of retirement today, there were no schemes that enabled them to build their homes as housing loans were not available. Today, senior citizens belonging to the category of employed middle class are at a disadvantage because they become ineligible for a long term loan. Even health insurance or a vehicle loan is a distant dream for many senior citizens. If you had planned carefully a decade before retiring, you can continue to live well. If you have not, there are still ways and means to achieve this .

When you are about to retire, you need to make two separate sets of decisions about retirement. The first set of decisions will involve planning your asset allocation. You have to choose whether to invest in FDs in banks or companies, stocks or bonds, mutual funds or other assets. Such decisions are influenced by your investment time horizon and your personal attitudes about risk-taking. What is important is to ensure a regular income as a substitute for salary to meet your daily expenses and that of your dependent family members.

The second set of decisions in investing for retirement involves choosing from several tax-advantaged retirement plans, each of which provides particular tax benefits.

The apprehension that most of us have is about our medical needs after retirement. Hence expenses on medical cover are a must to continue to safeguard oneself from medical problems. You should also deploy your retirement benefits such as provident fund benefits, gratuity, etc. judiciously in instruments that yield interest income at regular intervals.

If you had chosen a suitable pension product during the earlier stages of your career, you can ensure that you get a regular income. Many insurers offer pension products that can give you a regular pension after retirement. For e.g., you can go in for Jeevan Suraksha Plan from LIC, Forever Life Policy from ICICI Prudential Insurance, Personal Pension Plan from HDFC Standard Life and other such policies. If you have not planned earlier, you can still look at immediate pension plans such as LIC’s Jeevan Akshay.

Another investment avenue that can fetch you a regular monthly income is the Monthly Income Scheme of Post Office. This plan ensures regular interest income for six years with an interest rate of 8% and 5% bonus at the time of maturity. You can also get tax benefits.

Mutual funds offer you Monthly Income Plans with regular dividends. While the rate of dividends is not guaranteed, one can always expect higher returns depending upon the prevalent market conditions. You can also consider growth option of debt- based mutual funds which are transparent, liquid and tax efficient. However, the current finance scenario does not provide much encouragement to senior citizens to consider this option in the immediate future.

A retiree’s portfolio need not necessarily be restricted to a monthly income. A retired person can also consider investment options such as capital appreciation and if his risk profile permits, he can take an exposure to equity funds as well. But it is better to limit your equity exposure only to diversified equity funds coupled with regular monitoring of the market dynamics. Use your financial advisor’s counsel try to book profits periodically once your target ROI is achieved.

Schemes like Monthly Income Scheme with 8% as interest and 5% bonus at the time of maturity and senior citizen schemes with 9% as interest of post office and Govt. of India (RBI) bonds with 8% as interest, give assured returns and are risk-free. Fixed Deposit schemes from banks, government and housing finance companies like TN Power Finance, Hudco, HDFC and Sundaram Home Finance give returns above 9.5% and up to 11.5% for the deposit period of 3 years and above.”

Fixed Maturity Plans give a return of 10% to 10.5% for 1 year period and are good. Investing in FMPs is better than investing in bank deposits in terms of returns and is tax efficient as well. Currently, FMPs investing only in Bank CDs are available and this reduces the credit risk considerably.

It is also good to invest in gold, through Gold ETF and buying gold mining shares through Mutual Fund route, as long term investments.

Health insurance is a shield for your health and wealth. Taking health insurance will prevent wiping out of hard earned money earned through the years in case of medical exigencies. Companies like National Insurance and Star Health Insurance, even offer health insurance schemes for senior citizens up to 80 years of age. For capital appreciation and in long- term horizon, a small portion of retirement benefits can be invested in equity funds even during this volatile situation.

M R Venkatesh, Partner, GSV Associates, Chartered Accountants says, “We don’t give a blanket solution for every investor. Our investment portfolios are custom made depending upon the risk taking ability of the investor. We look at a diversified portfolio, especially for those retiring. Apart from the 70,000/- that can go in PPF, we recommend NSC and encourage investors to buy 100 gms of gold every year. This is apart from investments in good FDs in financial institutions and interest bearing bonds. . SBI and public sector banks offer 12% interest on fixed deposits for 2-3 years. Investments in good mutual funds would usually fetch a 20% return.

“Even though the share market has eroded drastically, I feel it is a good time to buy shares which can fetch you 10-12% interest and if you wait patiently up to 20-30% soon after we emerge out of the troubled financial scenario. I don’t think investing in lands is a good idea for senior citizens. Moreover, land prices are falling and we expect a further fall in the near future,” he says.

K.R.Sivaraman, is a senior citizen and is reemployed in a private company after his retirement. He says, “Today, in a city like Chennai a retired man needs at least Rs. 20,000/- to sustain a family of three members. Given the volatile market situation most senior citizens do not want to take risks. They want to play it safe and get a regular income. Hence the tendency is to put the money in bank and company fixed deposits.”

Sivaraman feels that playing in the stock market is meant for youngsters, though a few senior citizens with enough enterprise and dough do participate avidly in the stock market.

Other safe investments for senior citizens will be NSC and post office savings schemes. However he feels that while the banks consider 60 years and above for their senior citizens’ schemes, the tax benefits accrue only after 65 years. Similarly, there are certain disconcerting issues in the insurance arena too. While it is a good idea to have an insurance plan, premium rates are higher for senior citizens. Also, medical insurance does not cover diseases like diabetes, blood pressure etc. “ What is the point if your premium is high and you also don’t get a cover for these ailments, which afflict most people after sixty?” he queries with concern.,” there are no social security schemes in our country. So if special premium is offered for those above sixty, it will be a great shot in the arm for the huge population of senior citizens in our country.”

Sivaram feels that planning for a secure retired life should begin around thirty years with investment in insurance and a house. “When you are thirty five it is time to save but when you are sixty, it is time to spend.”

From the point of view of tax planning, senior citizens should take full benefit of income tax exemptions available within the framework of the Income Tax Act, 1961. If you want to achieve full tax deduction in respect of investments made within the purview of section 80C of the Income Tax Act, 1961 then the best option would be to invest in shares/mutual funds as these are specifically demarcated for the purpose of section 80C deduction.

If you are nearing your retirement, one single concept that should always be kept in mind is - it is time to simplify your tax and investment related activities. If you have planned your retirement investments, you can sit back and enjoy your retirement period with bliss, happiness and lot of tax saving with good investment results.