Anil Shaligram Interview – part 02

q5

We:

So it all started in the year 1985?

AS:

 

Yes you can say so but it was in the year 1997 when I met this youngster Prashant. He was studying for his Chemical Engineering Degree from UDCT Mumbai. From year 1997 to 2000 we together brainstormed about many concepts which resulted in 400 articles in various Regional and National papers like Loksatta, Maharastra Times, etc…

We also studied various management theories, game theories etc. Prashant continued with his studies further with his Post Graduation in HRD from TISS. He later joined Wipro Ltd and worked there for couple of years, currently he is pursuing a course on Social Networking from France.

 

q6

 

 

We:

So after you published your 400 articles you must have zeroed down to a conclusion and then One Village One Computer happened.

 

AS:

One Village One Computer is not an Idea its one of the Models which is part of the broader concept “IT for social Change”. We studied a lot of Economic and social problems both past and present and tried to find the solution through IT.1V1C was used as an initial model it was developed not for a village but for any community which has certain problems and which can be solved by the technology and various management theories.

Our first 1VIC project was started in the year 2000 in Murbi. We started an IT Seva Kendra in Murbi later, which is located in Panvel, Raigad District in Maharashtra.

This village is one of the 95 unfortunate villages, where farming lands were acquired by CIDCO (City & Industrial Development Corporation) for planned urbanization. All these villages face problems of unemployment, poverty, unequal compensations for land acquisition, sudden cultural & economic change and have been left marginalized in the whole developmental process.

1V1C had taken many basic IT training camps in this area before Kendra was established. These camps gave IT literacy to people where curriculum was addressing day-to-day issues faced by villagers, instructions and educational content was prepared in Marathi with help of Akruti Computers a company which develops software in Marathi.

We also trained youngsters in topics like team work, leadership development, gender issues, social entrepreneurship, networking & marketing which lead to overall development of Human Capital which was our main aim.

The infrastructure and computers were mainly funded by the villagers itself. Against the belief of villagers being afraid of the technology they were very eager and very quick to learn and adapt.

We used to have a training camp for 5 days and we used to make each group of 5 people and 1 computer was given to every group. We had designed basic computer Modules for them which also included usage of Internet.

And most unique thing we used to do is that we linked there problems with the learning which made them more receptive. Most of the problems were solved then and there I mean they become aware of how to solve their problems. Apart from computer training modules we played many management games which made them more confident and more of a thinking individual.

 

q7

 

We:
So you used to teach them batch wise.

AS:

Yup for the first batch we had trained trainers but when the first batch students went back they propagated many more to join in and we also got help from them as they became trainers for us. So we just provided them the platform and then it was up to them how they explored it.

 

We also saw to it that the training centre was not made at any Private place like school, hospital as it would remain accessible to a few people we made it in Public place like temples which will be more freely accessible.

We did not intend to create just Trainer Centers we wanted to create POWER CENTERS where Human Capital is been developed.

 

q8

We:

So how did the funding come from?

AS:

Initially we had to fund our projects later villagers themselves gave us the funding as it was their own center. We used to pay some stipend to the volunteers from the village.

Anil Shaligram Interview – part 01

The scene was set…after a long wait finally Amol and me were going to meet Anil Shaligram a Social Entrepreneur…fellow of Ashoka…a innovative thinker with social development as his final goal.

We were to meet him at his house which is 10 minutes from Thane Station but it took us almost one hour to reach there.

The house and Anil Shaligram both were ready for the interview. He had made arrangements for all 6 of us (but only 2 of us could make).

He had kept some books on Social Entrepreneur on a small table; there were many more books in the shelf behind the table.

We settled down…and the interview began.

Q.1

We: First we want to thank you for taking out time for us.

Anil Shaligram (A.S): No it’s not a problem. But can I ask you one thing what’s the purpose of the interview?

 

Q.2

We: Actually we are working on a Research Paper named “Social Entrepreneurship: Prospects and Constraints in India” So we are taking interviews of few Social Entrepreneurs and we will be profiling them in your paper.

AS: Ok So many how many interviews have you taken up till now? And how helpful were they?

Q.3

We: We have taken around 4 interviews up till now and we are in the process of understanding what is Social Entrepreneur and what is its current scenario in India also we came to know the qualities of Social Entrepreneur.

AS: Good!!! I have decided to structure our interview into few parts first I will give you an overview about my work and how did it happen.

Q.4

We: Ok (Amol opened his book and started penning down the points)

AS: It all started in the year 1985 that’s time an abstract concept came to my mind about using IT and cutting edge management theories for some social changes. So to understand the social environment I started reading books on the current Economic condition of the country, different advancements in the field of IT , past and contemporary Management theories and also on social networking.

In the year 1989 I started my own DTP centre to understand the IT field more clearly. The more I read I came to know different ideas for solving problems of the society.

CORPORATE GOVERNANCE 02 – BARRIERS TO BOARD EFFECTIVENESS

There are a number of factors that help to explain why some boards don’t function effectively. Taken together, these factors provide a checklist for assessing a board and identifying problem areas. Examining these barriers to board effectiveness can be the first step in revitalizing an existing board or building from scratch. Let’s take a look at some of the now:

Temptation to micro-management. Practically everyone can share hair-raising stories about boards that spent untold hours discussing trivial subjects while neglecting major agenda items deserving their more careful deliberation. It is critical that the board focuses its attention on items of critical importance to the organization. In order to do this, the board must avoid the temptation to micro-manage or meddle in lesser matters or in areas that are more appropriately handled by the professional staff. The average board, meeting monthly for two hours, has approximately 24 hours of meeting time per year to make all of the major decisions as well as address critical issues that come before it unannounced. It is simply impossible to do an effective job with in those 24 hours of meeting time, even if only a few hours are wasted on trivia.

Ineffective Nominating Committee. Many boards lack an effective nominating committee. We need to remember that the work of the nominating committee has lasting impact on organization — and this committee’s work determines who board leaders will be for many years for years into the future. The nominating committee should be well organized, have a clear sense of recruiting priorities as well as expectations for individual board members especially in the area of fund-raising. These elements are frequently missing in many organizations. If the nominating committee or board recruiting committee is poorly organized, board members in turn are not likely to have a good understanding of the organization and their role as board members.

No Plan for Rotation. Another problem is the lack of a plan for orderly rotation of board members on and off the board. If the same people serve year after year, there is no way for new blood and new ideas to come into the board. Despite their sense of commitment, these same people will make the organization a “closed corporation.” Rotation prevents the ingrown possessiveness sometimes found on self-perpetuating boards. In a time of rapid change, the presence of new people who bring a new perspective will promote creativity and innovation in board decision-making.

Failure to remove unproductive members. Another problem that leads to poor performance is the failure to remove unproductive board members. People who are not carrying out their commitments as board members become major blocks to overall board effectiveness. There needs to be a process for evaluating board member performance and making recommendations regarding their future service with the board.

Too small. Sometimes a board is ineffective because it is simply too small in number. When we consider the awesome responsibilities of board leadership, it’s easy to see why we need enough people to do the work. While it is difficult to specify an appropriate size for all boards, in general, a board should range in number from 11 to 21 members. We need enough members to lead and form the core of the committees and, in general, share in the other work of the board. We also need sufficient numbers to reflect the desired diversity in the board as well as assure the range of viewpoints that spurs innovation and creativity in board planning and decision-making.

Lack of functioning committee structure. The lack of a functioning committee structure is another reason why boards fail to perform at an acceptable level. While it is true that major decisions are made in board meetings, it is also true is that most of the work that supports and implements this decision-making occurs at the committee level. If the board has a committee structure that functions inadequately, this can lead to poor performance in general.

No strategic plan. The lack of a strategic plan, in most cases, will also lead to poor board performance. If the organization lacks a strategic plan that provides clear direction — so critical in this period of rapid change — the board can spend significant amounts of time talking about topics that simply don’t matter. Related to the absence of a strategic plan is the lack of a long-range service delivery and financial development plan that will advance the strategic plan.

No plan for orientation of new and old members. Boards also fail because they have no plan for orientation of new and old members. Deliberate thought is rarely given to the matter of blending new and old board members into a well-functioning team. Related to this, is the lack of a formal plan of board training and education to continually upgrade the level of board skills and knowledge.

Revival of Debt Markets in India: Issues and prospects

INTRODUCTION

The Debt Market is the market where fixed income securities of various types and features are issued and traded. These fixed income securities are issued by Central and State Governments, Municipal Corporations, Govt. bodies and commercial entities like Financial Institutions, Banks, Public Sector Units, Public Ltd. companies and also structured finance instruments.

Role and Importance

The key role of the debt markets in the Indian Economy stems from the following reasons:

• Efficient mobilization and allocation of resources in the economy

• Financing the development activities of the Government

• Transmitting signals for implementation of the monetary policy

• Facilitating liquidity management in tune with overall short term and long term objectives.

Since the Government Securities are issued to meet the short term and long term financial needs of the government, they are not only used as instruments for raising debt, but have emerged as key instruments for internal debt management, monetary management and short term liquidity management.

The returns earned on the government securities are normally taken as the benchmark rates of returns and are referred to as the risk free return in financial theory. The Risk Free rates obtained from the G-sec rates are often used to price the other non-govt. securities in the financial markets.

Importance to Investors

The Zero Default Risk of the G-Secs. offer one of the best reasons for investments in G-secs so that it enjoys the greatest amount of security possible.

The other advantages of investing in G- Secs are:

• Greater safety and lower volatility as compared to other financial instruments.

• Variations possible in the structure of instruments like Index linked Bonds, STRIPS

• Higher leverage available in case of borrowings against G-Secs.

• No TDS on interest payments

• Tax exemption for interest earned on G-Secs. up to Rs.3000/- over and above the limit of Rs.12000/- under Section 80L (as amended in the latest Budget).

• Greater diversification opportunities

• Adequate trading opportunities with continuing volatility expected in interest rates the world over.

Importance to Financial System of the Country

• Reduction in the borrowing cost of the Government and enable mobilization of resources at a reasonable cost.

• Provide greater funding avenues to public-sector and private sector projects and reduce the pressure on institutional financing.

• Enhanced mobilization of resources by unlocking illiquid retail investments like gold.

• Development of heterogeneity of market participants

• Assist in development of a reliable yield curve and the term structure of interest rates.

OBJECTIVE

1) To identify and analyse the problems plaguing the Indian Debt Market and suggest remedial measures for its revival.

2) To undertake a comparative study of the debt markets in India vis-a-vis the one in the developed countries.

3) To suggest methods by which the returns in the Indian debt markets could be made more attractive to the retail sector.

METHODOLOGY

Sources of Secondary data:

(1) Reports and working papers available on the internet.

(2) Literature survey.

Sources of Primary data:

(1) Interaction with debt traders.

BENEFITS

The research aims to benefit the policy makers, retail investors and corporates.