ECONOMIC ISSUES

INDIA'S INFLATION HIGHEST AMONG DEVELOPING NATIONS

India's annual inflation rate, based on the wholesale price index (WPI), was almost 10.2 per
cent in May. According to him, inflationary episodes in India have historically been preceded by
food price increases. This time too, the route is the same, with high food prices exercising a
cascading impact by pushing up wages and other costs.

All this gets magnified in a growing economy, where incomes are rising and, in turn, translating
into higher purchasing power.

To that extent, inflation is today a "structural problem" that can be fixed only by addressing
supply side constraints in food - both on the production as well as distributional logistics fronts.
While inflation weakens the domestic purchasing power of a currency, in the Indian context
though, this has been accompanied by the rupee's relative strengthening against other
currencies.

During the last five years, the rupee has fallen only marginally against the dollar, from Rs 43.5
to Rs 46.5 to the dollar, whereas domestic costs have increased much more, hurting exporters
in particular.

This is unlike the case in countries such as Pakistan, which have experienced high inflation
levels alongside depreciation of their currency. The Pakistani rupee is today Rs 85 to a dollar,
against Rs 70 only two years back.

FUEL INFLATION HOTS UP EVEN AS FOOD INFLATION COOLS

Fuel inflation up

Fuel inflation, however, shot up 18.02 per cent on a year-on-year basis during the latest
reported week from the previous week's 12.90 per cent, coming in the wake of the increase in
rates of petroleum products. After the fuel price hike by the Government on June 25, prices of
petrol and diesel were raised by up to Rs 3.50 a litre, while that of LPG and kerosene were hiked
by 35 per cylinder and Rs 3 a litre, respectively.

BUSINESS

TATA CONSULTANCY, HILTON WORLDWIDE TIE UP FOR IT SERVICES

Tata Consultancy Services (TCS) on Wednesday said it has signed a multi-year agreement with
global hospitality company Hilton Worldwide to enhance its technology strategy as part of its
'Hilton Worldwide Innovation Collaborative' initiative.

"This relationship confirms our leadership position as the long term IT partners best equipped
to help global corporations transform their businesses using our full-service capabilities and
domain knowledge," said N. Chandrasekaran, CEO and managing director of TCS.

"We are committed to furthering the Hilton Worldwide's strategic and transformational
initiatives through the most advanced technology solutions," he added.

TCS will be managing Hilton's corporate suit of applications in the areas of property of
information management, learning management, quality assurance, business intelligence,
financial systems and intranet applications.

MARUTI UPS FY 2011 SALES FORECAST

New Delhi: India’s top car maker Maruti Suzuki raised its sales forecast for the current fiscal
year on surging demand in Asia’s third-largest economy, despite a maintenance shutdown that
would create a dip in December sales.

Maruti, 54.2% owned by Japan’s Suzuki Motor, expects sales this fiscal year to rise 31% from a
year earlier, chief executive Shinzo Nakanishi told reporters on Wednesday.

Nakanishi said the company’s production in December is likely to be lower than November,
citing a seasonal plant shutdown for maintenance.

The forecast is higher than Maruti’s estimate in September, when it said it expected to sell 1.2
million vehicles in fiscal year 2011, up nearly 18% from last year.

The company sells roughly half the cars in India, where a burgeoning middle class in an
economy growing at nearly 9% a year is creating a boom in demand for vehicles.

Maruti faces intensifying competition from the likes of South Korea’s Hyundai Motors, the
second-largest car maker in India, and Ford Motor as well as domestic rivals in India, where the
automobile industry is likely to grow by 18 to 20% this fiscal year.

Maruti’s sales in November rose 28% to 112,554 units, despite a 12% drop in export volumes.

The automaker plans to invest $1.3 billion over the next three-year on manufacturing plants to
boost capacity. Earlier this year, the company said it would build a fourth auto plant in India to
lift output to 1.5 million units a year.
The new factory would start operations in 2013, with annual capacity of 250,000 cars.

Annual production is expected to reach 1.85 million units by the end of 2012, Nakanishi said.

Shares in Maruti slipped after news of the likely lower December sales, falling as much as 3.2%.
At 02:30 pm, the stock was down 2.8% at Rs1,388.20 in a weak Mumbai market.

TATA POWER SIGNS PPA FOR 25 MW SOLAR POWER WITH

GUVNL
Ahmedabad: Ratan Tata-led Tata Power on Wednesday said it is developing a 25 MW solar
photovoltaic power project at Mithapur and has signed a Power Purchase Agreement (PPA) for
the project with the state power utility Gujarat Urja Vikas Nigam Ltd (GUVNL).

The solar photovoltaic power plant spread across 100 acres of land along the coast line of
Gujarat will be amongst the largest plants of its kind in the country and is targeted to be
commissioned by December 2011, a company release said.

POLITICAL

PAKISTAN'S ISI AND LET PLANNED TO ASSASSINATE

NARENDRA MODI WITH A CAR BOMB
Wikileaks reveals the henious plans of Pakistani terror operators in
India and against Hindutva.

According to media reports from India, the wikileaks cable, created on June 19 2009, was sent
from the office of Secretary of State Hillary Clinton to “Security Officer, Collective Priority,” and
the U.S. embassies in Tripoli, Casablanca and Johannesburg. Some of the information in the
cable had been redacted by WikiLeaks, yet it bore Ms. Clinton’s name at the end and was
categorised as “Secret,” “No Foreign,” and it was “derived from multiple sources.”

Under the category of “key concerns,” the notes on LeT member Shafiq Khan, and alternatively
a person identified only as “Hussein,” said that they continued operational planning on three
tasks in early June of 2009.

These plans were associated with a “possible operation against Gujarat Chief Minister Narendar
Modi, the establishment of a training camp, and unspecified work involving a car.”
PAKISTANI POLICE HAVE ARRESTED FIVE SUSPECTS IN A MAY
2009 SUICIDE ATTACK

Pakistani police have arrested five suspects in a May 2009 suicide

attack on an Inter-Services Intelligence building that killed 24 people.

Pakistani police chief Muhammad Aslam Tareen said the suspects had trained in North
Waziristan and were arrested in the Shahdara neighborhood of Lahore a few days ago. Tareen
also said the suspects belonged to Al-Toheed-wa-al-Jihad, a previously unknown faction of the
militant group Tehrik-i-Taliban Pakistan.

The new faction is engaged with kidnapping for ransom and targeting security forces'' buildings
in Lahore, and Tareen said the suspects had been planning terrorist activities.

THE NDA WILL WIN ABOUT 170 OF THE TOTAL 243 SEATS IN
THE BIHAR ASSEMBLY ELECTIONS AND FORM THE
GOVERNMENT ONCE AGAIN UNDER NITISH KUMAR
Route of Congress Party is so severe that the Congress Party can start
disintegrating like the Mughal empire at the end of Mughal regime.

"The increase in the polling percentage reflected the people's acknowledgment of the
developmental work under the NDA during the past five years," state BJP president C P Thakur
told media reporters in Patna.

The people, Thakur said, were for giving another term to Nitish Kumar and his deputy Sushil
Kumar Modi to help Bihar emerge as the most developed state in India by 2015.

The sixth and last phase of the Bihar assembly elections in 26 seats were held today. The
counting of votes will take place on November 24.

ADEQUATE SPECTRUM AVAILABILITY MUST FOR TELECOM

GROWTH: SIBAL
New Delhi: Telecom minister Kapil Sibal on Wednesday said the growth in the sector is
essentially centered on adequate spectrum availability, assuring government will make all
efforts to provide requisite airwaves to meet industry’s demand.

“The real problem is that their is scarcity of spectrum and we need to increase the amount of
spectrum that can be distributed.
This is because it (spectrum) is a vehicle through which people of India will be empowered and
therefore we need a very broad area within the spectrum available that can be put to civilian
use,” Sibal told reporters.

His assertion comes a day after he met top telecom honchos who, among other things,
expressed concern over the shortage of spectrum. Yesterday, Sibal had met Sunil Mittal of
Bharti, Anil Ambani of RCoM and Ratan Tata of TTSL and discussed the current scenario in the
sector. He would also be meeting other players including Idea and Vodafone.

Asked whether he would also hold meetings with new operators Sibal said “I will meet all the
captains of the industry and of course we are dealing with so many things simultaneously. Lets
move forward and the road ahead will be a road of prosperity for the industry... the road ahead
will be a level playing field road, a non-discriminatory road the road that will help the economy
move forward.”

He further added, “I was very happy that the three captains of the telecom sector whom I met
were extremely constructive about their approach and they have been assured of a level
playing field.”

The meeting with the industry comes at a time when the sector is grappling with uncertainties
with regard to spectrum allocation policies and CBI probe into the decisions taken by Telecom
Ministry between 2001 and 2008.

The idea was to meet the leaders of the telecom sector and find out their concerns.

“It is not in our interest to destroy this sector. It is in our interest to take the industry forward,
give them confidence, assure them of a level playing field or a non-discriminatory regime”, he
said.

This, he said, was to ensure the “industry can realise its true potential and also mutally share its
vision on where the telecom sector should be going, whether its broadband, or its other path of
the telecom sector where decisions will have to be taken”.

UPCOMING ISSUES

2G SCAM: CBI TO QUESTION RAJA BY FRIDAY

New Delhi/Chennai: Former telecom minister A Raja will be questioned by CBI within next two
days in connection with alleged irregularities in the allocation of 2G spectrum that resulted in a
loss of at least Rs22,000 crore to the exchequer.

CBI officials said a notice under Section 160 of the Criminal Procedure Code has been issued to
Raja to appear before it for questioning either tomorrow or on Friday.
“I am going to Delhi. I will be there for two-three days. I will cooperate with the investigating
agency,” Raja told reporters at the State Guest House in Chennai before leaving for the national
capital on being asked when he would appear before the investigating agency.

Raja would be questioned about the need for preponing of dates for allocation of spectrum
and, among other issues, on the role of his relatives in some of the companies which allegedly
acted as a front for certain telecom firms which got spectrum between September 2007 and
January 2008.

The Supreme Court has asked CBI and the Enforcement Directorate to submit status reports on
their investigations into the 2G scam to it by 10 February, when the case will come up for
hearing.

The Comptroller and Auditor General of India (CAG) in its report to Parliament had said that the
allocation of 2G spectrum at undervalued prices had resulted in the loss of Rs1.76 lakh crore to
the exchequer.

CBI in its FIR had mentioned the loss as Rs22,000 crore based on the findings of Central
Vigilance Commission which had referred the case to it.

47-year-old Raja was forced to resign as telecom minister in the wake of the government
auditor’s report last month.

Radia was questioned by the CBI yesterday at her South Delhi farmhouse for four hours. Radia
hit the spotlight after her taped telephonic conversations with various influential people
including industrialists, politicians and journalists became public.

CBI has also questioned former Telecom Regulatory Authority of India (TRAI) chief Pradip Baijal,
a 1966 batch IAS officer of Madhya Pradesh cadre, in connection with the case.

The premises of Raja, Baijal and Radia were searched by the CBI earlier this month.

SUMMER INTERNSHIP BRIEF

During the summer internship at Axis Bank, I worked on a project “ Customer satisfaction
survey of a financial product: the case of credit card off-take at Axis Bank. Information was
gained on the credit cards usage and types. Calls were made to customers to give product
information and asking whether the customer needs the product. Customers were visited for
paper work and collection of cheques.

I learnt how banking instruments are used and processed like demand draft, Pay order. I
learned how to transfer payments from one person to another using Net banking facility of
RTGS. It requires an ID and Password.
SKILLS