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On-line bookings highest with travellers from Mumbai airport
When it comes to on-line booking of air-tickets, travellers from Mumbai take the lead with as many as 77 per cent opting for these facilities compared to travellers at six other leading international airports globally.

A place in the sun
Given India’s large geographical spread and ready availability of sunshine, solar energy could be the answer to our energy shortage.

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What Gladwell saw, and questioned
At the height of the dot-com boom of the 1990s, several executives at McKinsey & Company, the world’s most prestigious management consulting firm, launched what they called the War for Talent. After extensive research, they concluded that the best companies had leaders who were obsessed with “the talent issue”. They recruited ceaselessly, finding and hiring as many top performers as possible. They singled out and segregated their stars, rewarding them disproportionately, and pushing them into ever more senior positions. The “talent mind-set” became the new orthodoxy of American management — the intellectual justification for why a high premium was placed on degrees from first-tier business schools, and why the compensation packages for top executives had become so lavish.
Management

Loans against rent receivables is commercial realty exposure: RBI

Reserve Bank of India today said bank loans whose repayment is done from future rental generated from properties like shopping malls and office premises will be treated as commercial real estate exposure (CRE). - RBI governor meets bankers, discusses industry issues - FDI inflows into India to slip as TNCs rework investment plans - RPG enterprises to enter coffee chain business - Godrej to consolidate business by acquiring foreign brands - Uniform licence fee to hit NLD, ILD, ISPs: Ambit Fin - Crisis hits financial brands; Coca-Cola retains top slot Even though such exposures do not result in funding/acquisition of commercial real estate, the repayment might be sensitive to fall in real estate rentals, RBI said in final guidelines issued for CRE. Few banks have formulated schemes where the owners of existing real estate have been offered finance to be repaid out of the rentals generated by these properties. However, when there are in-built safety conditions for delinking the repayments from real estate price volatility, the loan need not be treated as CRE. The safety conditions may be like the lease rental agreement with a lock-in period which is not shorter than the tenor of loan. Such agreement should not contain any clause which allows a downward revision in the rentals during the period covered by the loan banks. RBI said bank finance to developers of infrastructure facilities in Special Economic Zones (SEZs) would be taken as infrastructure lending, against its 2006 ruling that classified these as commercial real estate exposures. Final guidelines on the definition of CRE exposures, necessitated due to risks involved in the real estate and Basel-II framework, were on Wednesday laid out by the RBI, after considering feedbacks on its draft guidelines. “Banks can finance cost of land development, which will be classified as CRE for the reason that the source of repayment would be the lease rentals,” it said, adding loans for acquiring land for private developers for setting up of SEZ is not permitted.


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