Seven golden home loan rules

Rule # 1: Never choose a lender till the property is identified

Speak to your bank about home finance only after you have identified a property/home/flat you want to buy. While most banks will provide finance for ready-to-move-in properties, some banks do not readily finance a property which is being self-constructed or a property under construction.

Also, if the property is very old or is being developed by a relatively unknown builder, the bank might have an issue with providing a property loan. Take a sanction for the loan only after identifying the property. Banks are known to reserve the best deals for immediate disbursement cases.

Rule # 2: Get clarity about the loan amount eligibility

Banks have different ways to calculate loan eligibility. If loan eligibility based on your income is likely to be an issue, then talk to several banks to find out which bank can give you the maximum amount.

It may so happen that based on your own income, as well as your spouse's, you may still not be eligible to get the amount of loan that you require.

Then you must seek a bank that allows you to club the incomes of your other close relatives (parents, siblings, children etc) to increase your loan eligibility. Some banks may agree to club the incomes of two siblings for the purpose of calculating the loan eligibility.

Rule # 3: You must have 10-15 per cent funds of the house cost

If the house costs Rs 5 lakh, the bank expects you to pay at least Rs 50,000 to Rs 75,000 from your own sources, while the remaining Rs 4,50,000 to Rs 4,25,000 is provided as loan subject to your income based eligibility.

If the value of the house goes down in future, your down payment ensures that the bank's interest is protected by ensuring that outstanding loan amount is less than the realisable value of the property. Once you decide on your dream property, the bank will get the cost of the property evaluated by its own personnel.

Surprisingly, this evaluation can throw up a price different (in most cases lower) from the actual price you are paying for the property. In such cases, you will need to shell out the difference between the actual price and the bank's valuation as additional down payment.

So again, it makes sense to ask the bank to value the property (on payment of a small fee), especially if it is an old resale property. The small fee will be worth the while to avoid future hassles.

Rule # 4: Go window-shopping, bargain more & more

You should shortlist four or five banks and get the short listed banks to compete for your loan. The cost of your loan depends a lot on your ability to negotiate. Remember that all terms and conditions of a housing loan are negotiable.

Interest rates offered by banks take your income and repayment profile into consideration, apart from, of course, your negotiation skills. Apart from interest rates, also check various charges like processing fees, pre-payment charges, legal fees, valuation fees and other hidden costs. Take all these factors into account before choosing your bank.

Rule # 5: Be prepared to lose your processing fee

Your lender will charge you a fee to get the loan proposal on roll. This fee is called the 'processing fee'. This fee varies from bank to bank, but is usually around 0.5 per cent to one per cent of the total housing loan amount.

Paying the fee doesn't mean that you will get the loan, but this is the fee to get the lender to even 'take a look' at your application. No matter what the bank representative informs you; the processing fee is 'NON-REFUNDABLE'.

Don't trust any verbal promises about not encashing the cheque if the sanction is not done or is not as per the promised terms. Get all such promises in writing. This means that if your loan application is rejected or is sanctioned for a lower amount or at a higher rate than promised, you cannot claim the processing fee back.

Rule # 6: Fixed or floating, there is no substitute for vigilance

Even when opting for 'fixed interest', remember that in some cases, it may remain fixed only for a certain period of time, as the bank may have the right to arbitrarily change even the so called 'fixed rate'. So, probe further and read the fine print before you sign on anything.

Like a majority of consumers, if you have signed a floating rate loan, check whether the rates of your chosen lender had floated down in the years when interest rates were dropping like a stone.

To know whether your lender offers 'transparent floating rates', ask for and check the bank's floating rate records from 2002-2003, when interest rates were going down. This is a fair indicator of what you can expect as (not if) and when the interest rates start moving down and the time comes for the bank to pass on the benefit to you.

Rule # 7: Let your family inherit the house, not the home loan

We know little what fate has in store for us. When you take a home loan, it is on the basis and assumption of continuing income. We run into all kinds of risks in our daily life. Accidents and health issues like heart attacks, strokes, paralysis, kidney failure and other physically crippling ailments can cause loss of income or in some cases, even your life.

Housing loans are a fairly long-term liability. This is why when you take a home loan it is advisable to take a life insurance and critical illness policy.

Life insurance policies provide monetary benefit in case of an unfortunate incident like death and ensure that your family members inherit your home not your home loan. Critical illness policy will take care of the home loan liability if your income gets interrupted due to unforeseen, unavoidable circumstances which such conditions may create. That will be one less thing to worry about while you are anyway under severe stress.

Best of all, most banks will be happy to finance the one-time premium payable for both policies, enabling you to get this protection at a small addition to your regular premium.

(http://specials.rediff.com/getahead/2008/dec/15slid1-seven-golden-home-loan-rules.htm)

World Bank bars Satyam for 8 years

The World Bank has barred Satyam Computer Services from doing any business with it for the next eight years even as the share prices of India's fourth-largest IT firm tanked 13.5 per cent on rumours that B Ramalinga Raju, founder and chairman, has resigned.

 

Speculation was also high on news that Wipro Technologies, India's third-largest IT firm, might acquire Satyam, something both companies denied.

 

Foxnews.com on Tuesday reported that the World Bank ban started in September this year "due to alleged malpractice's including bribery". The news report said the World Bank debarment -- the harshest sanction ever made by the bank since 2004 -- was meted out for 'improper benefit to bank staff' and 'lack of documentation on invoices'.

 

"The information is true," Sudip Mozumder, a spokesman for the World Bank in New Delhi, told Reuters. Moreover, Robert Van Pulley, the information security official, admitted to the ban during a recent meeting with officials of the Government Accountability Project, a 30-year-old whistle-blowing organisation based in Washington.

 

When contacted, a Satyam spokesperson said that "the company does not comment on individual clients".

 

According to reports throughout 2003 to 2008, the World Bank has paid Satyam hundreds of millions of dollars to maintain and manage its software systems across global networks as well as look at back-office operations.

 

In 2005, the bank's chief information officer, Mohamed Muhsin, was asked to leave after being accused of improperly buying preferential stock options from Satyam, even as he awarded the firm major contracts. A top-secret investigation led to Muhsin being banned permanently from the bank in January 2007.

 

Satyam has been in the line of fire since it made an attempt to acquire Maytas Infra and Maytas Properties for $1.6 billion that are partially owned by the promoter family. Within 10 to12 hours of this announcement, the company retracted its decision due to investor outrage.

 

(http://us.rediff.com/money/2008/dec/24world-bank-bars-satyam-for-8-years.htm)

Anti-theft software for cell-phones

Own an expensive hi-end mobile phone? Petrified of losing it?

Police recently tracked down a mobile theft - a rare occurrence – but the moral of the case was it was better to be safe than sorry.

J. Vikram works as a Security Engineer with a top software firm in Chennai. A few months ago, Vikram lost his brand-new Nokia N 70 mobile phone. He registered a police complaint and in just two days the handset was back in his pocket. It was not just the swift action of the Cyber Crime Cell of the city police but it was Vikram’s prudence that gained him back his handset.

The ‘saviour’ was Guardian 2.1, a free mobile antitheft software installed in the phone. “The software when installed on the phone will ask for your International Mobile Equipment Identity (IMEI), International Mobile Subscriber Identity (IMSI) along with area code and a nominated mobile number to pass on automatic SMS alert when your handset is lost and used by someone else,” Vikram says.

Apparently, Vikram had nominated his sister’s mobile number. When his mobile got stolen and every time a new SIM card was inserted, the Guardian software in the phone started working. And as a result, Vikram’s sister got the warning message on her phone from the illegally inserted SIM.“Immediately I alerted the cops and they nabbed the culprit and got back my phone,” Vikram adds. The interesting element about the anti theft software apart from being free to download is that its presence inside the mobile phone can’t be detected.

Vikram is one of the few who managed to retrieve his mobile phone. According to M. Sudhakar, Assistant Commissioner, City Cyber Crime Cell, nearly 700 cases of missing mobile phones were registered with the city police last year. “But the recovery rate is 50 percent. People buy expensive mobile phones but don’t know how to safeguard them. A simple installation of an anti-theft software can prove effective when the handset goes missing,” stresses Sudhakar.

There are a number of mobile anti-theft softwares apart from Guardian, which can be downloaded to guard your expensive high end mobile phone. Sudhakar recommends softwares that primarily feature the following three options: a) Two mobile numbers can be nominated to receive alert SMS in case of loss of the phone b) Locks the stored data when a new SIM is inserted c) Exports all stored data to the nominated mobile numbers.
“High-end mobile phone users must make use of these softwares. In case of theft or loss of the handset, the software inside makes the police investigation less time consuming. The culprits can be nabbed quickly and in turn increases the percentage of recovery,” Sudhakar adds.

So if you own a high-end expensive handset, it is high time you protect it with some advanced technology that is easily accessible on the internet.

The software

Mobile phone anti theft software Guardian 2.1 can be downloaded for free from http://www.download.com/guardian/3000-11138_410612972.html or http://www.symbian-toys.com/ or http://www.symbian-toys.com/
guardian.aspx
Anti-theft softwares works well on Nokia models like the 6600, 7610, 6630, 6670, N 70, N 72, N 80, N 93, N 95 and also on a few models of other mobile makers.
Virtual Mobile Security (VMS) suite from Mumbai-based Innova Technologies is also an anti-theft software that would lock up the phones in case of unauthorised SIM card change or if the owner sends a text message alert to the culprit. The password-protected software would literally render the handset useless to anyone but the owner.
It would also forward the new SIM card number, the International Mobile Equipment Identity (IMEI) number of the handset and the cell phone number of the new user via an SMS to a mobile phone nominated by the user.

(http://www.goergo.in/?p=231)

How India is weathering the financial tsunami

The global financial turmoil has hit a number of financial institutions overseas, resulting in write-downs, bailouts and bankruptcies. In contrast, the Indian financial system has largely escaped unscathed, thanks to a stringent regulatory framework, which was  considered stifling in times of upturn.

Not that the Indian banking system has not had its share of worries during the recent crisis.

Four large Indian banks with significant foreign presence had to make provisions for potential losses due to their exposure to overseas financial institutions.

These are: ICICI Bank (international assets accounts for 22 per cent of total assets), State Bank of India (7 per cent), Bank of India (18 per cent) and Bank of Baroda (19 per cent).

But by and large, the Indian banking system has been left untouched by the unfolding crisis, not only due to regulatory restrictions, but also because of their limited exposure to US-mortgage backed securities.

The central bank's stranglehold has also ensured that the Indian financial system has a leverage of 13:1 -- small in comparison with the US investment banks' leverage of 30:1.

Another factor that provides succour during such times is the dominant role that government-owned banks play in the Indian banking sector. These banks hold financial assets worth 77.2 per cent.

Moreover, all banks, irrespective of ownership, need to invest over 32 per cent of their deposits with RBI or invest in sovereign bonds.

Reserve requirements set by RBI are among the highest in the world. This ensures that RBI and the banking system have enough muscle to support the economy when there is a slowdown or liquidity crisis.

Effectively, this also means that  banks have limited credit risk and the balance sheets have significant liquidity.

Consider these facts: Over 90 per cent of borrowing with the banks is in the form of deposits.

Almost 75 per cent of risk assets are in the form of loans rather than bonds or securities.

The industrial loan book is fairly diversified across sectors -- the top five sectors account for 58 per cent of industrial loans.

The consumer exposure, including mortgages, is less than 25 per cent of the system's loan book.

In the case of bank failures, the Indian regulator guarantees a payment of up to Rs 100,000 to each depositor. This guarantee extends to over 95 per cent of depositors.

Also, over 50 per cent of deposits by value are protected.

Indian banks have stronger balance sheets compared to the past, as net non-performing loans of Indian banks have fallen consistently over the last five years.

In fact, subsequent falls in government bond yields have translated into sufficient gains for banks, helping them clean up their books.

The best way of judging a bank's health is to look at some critical parameters such as capital adequacy ratio, asset quality and earnings, which define banks' ability to pay off their service depositors in times of crisis. On all these parameters, Indian banks meet the accepted norms.

State Bank of India has the highest net worth in capital and reserves among all Indian banks, followed by ICICI Bank. Each of the two has about four times the net worth of the third biggest bank, Punjab National Bank [Get Quote], in this category.

Most Indian banks have non-performing assets amounting to less than one per cent. The average NPA of all banks operating in India (including foreign banks) is around one per cent.

The reduction in NPAs has been primarily driven by higher write-offs earlier and higher recoveries done very recently.

The gross and net NPA ratios have improved from the 1994 levels of 19.5 per cent and 10.7 per cent to the current levels of 2.4 per cent and 1.1 per cent, respectively.

The marked improvement in asset quality is a result of tightened NPL recognition norms (from 180 days to 90 days) and provisioning norms having come into force from March 31, 2004.

The incremental slippage ratio has also trended down from 5.3 per cent in 2001-02 to the current level of 1.8 per cent.

Among the big Indian banks, ICICI Bank has the highest capital adequacy ratio of 13.97 per cent against the mandated 9 per cent. Four banks, all of which are smaller than ICICI, have higher CAR than ICICI Bank.

Overall, 28 Indian banks have a CAR of more than 12 per cent each. Not even a single bank has a CAR of less than 9 per cent. Under the norms, banks need capital worth Rs 9 for every unit of asset worth Rs 100.

Going by FY08 numbers, none of the Indian banks, big or small, can fail.

However, the current fiscal, beginning April, has brought with it some troubling signs of an economic slowdown. The rapid credit expansion in recent years has resulted in a jump in NPAs.

At the same time, a disproportionate rise in the unsecured books combined with the growing lending is a cause for concern.

This, in an economic downturn, could mean a higher probability of default, as well as a lower probability of recovery, if the loans get converted into NPAs.

Over the past six years, the ratio of unsecured loans to total loans has doubled from 10.8 per cent to that of 21.9 per cent.

This means that unsecured loans have compounded at a massive 49 per cent during these years.

For individual private sector banks, the ratio has increased from 6.7 per cent in 2001-02 to 23.4 per cent in 2007-08.

The top three banks in private sector have more than 15 per cent of their portfolios in unsecured loans and advances.

(http://us.rediff.com/money/2008/dec/22bcrisis-how-indiai-is-weathering-the-financial-tsunami.htm)

No lay-offs, no matter how bad it gets, assures HCL Tech

HCL Technologies one of India's leading Information Technology firm, will not fire its employees even if the economic situation gets worse over the coming months, the company's chief executive officer told Hindustan Times. The company, like other corporates is cutting costs through other 0measures like reducing transport and electricity bills amongst others.

"We have not and will not lay off no matter how bad it gets, even if recessionary trends get worse," said Vineet Nayar, CEO, HCL Technologies. HCL Technologies employs around 55,000 employs across 19 countries. Nayar said that the company's hiring plans were on track but declined to put a number to the target. On expected salary hikes for financial year 2010, Nayar said that the company will take a decision around June next year.

"We will take a decision around June and expect that most of the bad news will be behind us by then," said Nayar. "We will cut costs from all corners, through better utilisation of electricity, reducing cycle time from desire to implement of a project, controlling transportation and vendor bills," he said. He declined to comment on how much the company is likely to save through these initiatives.

(http://in.biz.yahoo.com/081221/32/6z7zo.html) 

Balance your professional equations

After Chemistry and Mathematics, if I were to pick one place where equations play a major role, my choice would be professional office spaces. Yes, within the confines of our daily work places.

 

The only difference between the academic equations and the ones being referred to within the office space is the change in variables or constituents of the equations -- bosses, peers and various colleagues replacing chemicals and numbers.

 

The basic rules, however remain the same.

 

For instance, the results you get are invariably dependant upon how various constituents react.

 

Be it your equation with your boss, your boss's boss, immediate peers, colleagues working in other departments of the company or the guard who waves to you in the office everyday -- equations affect and matter everywhere.

 

But why are equations in the offices so important?

 

The answer can be found in the highly people-driven societies that the workplace has come to be. These days, you do not work alone and may get involved with umpteen number of people within the organisation. Interactions with so many people are bound to leave as many impressions. It is these impressions that can make or break one's efforts as opinions float around easily in these ever so connected confines.

 

It isn't hard, therefore, to fathom that having good equations with everyone is in one's own interest.

 

So, if you strike the right chord with your boss, chances are that you'd find yourself in good stead. If not, you could be asking for trouble.

 

However, the buck doesn't stop at the boss only. You would also need to be aware of the equations of other people with your boss. A budding manager, in spite of her hard work, wasn't finding the commensurate payback for her efforts from her boss. On digging deeper, it was found that she had unknowingly offended the head of another department who happened to be quite close to her boss.

 

If you deal with other departments of your organisation regularly for your work, the success of the task at hand may depend upon how various people construe you and your team. Having good equations with those teams may ease your task. Others would only be happy to work for your interests.

 

However, if the equations are not good, you may have to fight a lonely battle. But in spite of that, your boss may be sympathetic to you, if you are on good terms with her, even if you fall short of targets, knowing the equations the other team has with your team.

 

This also extends to the feedback about you, that your boss might seek from others. Keeping good company and more importantly a halo of positives around you is bound to improve the ratings you get in your next appraisal. That would show that you are able to handle the aspirations and expectations of various people, which is an important trait in a people-driven office.

 

Knowing then that equations are so important, how does one get to remain on the right side of the law? 

 

One way is to keep your eyes and ears open for any signs of deteriorating relations or appearances of slag in the broth that is cooked up every day in the office.

 

Check up on the office grapevine doing the rounds every once in a while. These are important sources of the prevailing undercurrents.

 

Senior team members or those who have been around for quite some time in the organisation are also good sources of internal dynamics. Popping quick and harmless queries before embarking on any endeavour would help get the lowdown of existing power centres within the organisation.

 

Information gleaned from such sources helps set proper expectations right from the start of the task. You'd know whether you can expect positive contributions from certain quarters in the office or not and thereby direct efforts appropriately.

 

Brush up your PR skills and keep others' interests in mind while you ask or provide for requests at work.

 

And finally nothing beats sticking to the tasks at hand without indulging in the politics of the workplace. After all, in the long run, a clean record looks far more appealing than a tarnished image.

 

(http://www.rediff.com/getahead/2008/nov/10balance-your-professional-equations.htm)

Credit card caution: use it wisely

With the Supreme Court coming down hard on credit card companies for charging exorbitant interest rates - in excess of 42 per cent a year in many cases - card users can breathe easy, at least for sometime.

Credit card companies, on their part, have argued that they need to charge these rates from the 'existing cardholders' for a variety of reasons - cost of courier, cost of marketing, cost of rewards and loyalty programmes and many others.

The figure - over 42 per cent a year itself, reminds one of all the 60s and 70s Hindi movies, where a village moneylender charged usurious rates of interest. And the inability of villagers to pay puts them in a financial hellhole.

In case of a credit card user, the situation can become quite similar. But here, usually the problem is irresponsible use. Also, a very few take the trouble of reading the card statement properly, which would make them aware of the all the small charges that the card company imposes, even for small requirements like generation of a new pin number or duplicate statements.

In other words, a credit card is simply a slickly-packaged, but atrociously-priced personal loan. It has its utilities, but the charges far outweigh the benefits.

Here are some of the regular costs

Interest cost: The biggest one. This can range from 2.79 - 3.9 per cent per month.

Late payment fee: Credit card companies charge Rs 350 per month on outstanding amount less than Rs 10,000. For outstanding balances between Rs 10,000 and Rs 20,000 the charges are Rs 500 and can go up to Rs 600, for higher amounts.

Overdraft limit: There is a charge if a customer exceeds the credit limit. This varies from issuer to issuer.

Overdue: For overdue accounts and payments that companies collect by sending an executive to the customer, there is a fees of Rs 75.

Cash advance: If the card holder withdraws from the ATM, there is a charge of 3 per cent on the total money withdrawn or Rs 300, whichever is higher. For money drawn through a branch, credit card companies levy an additional fee of Rs 500.

Joining and annual fees: Considering the competition in the credit card apace, a lot of banks entice customers with no joining fees. Later the card holder is charged the annual fees.

Duplicate statement fee: The card issuers, for instance Standard Chartered, charges Rs 25 per statement if the requested statement is more than three months old. Issuers such as SBI [Get Quote] Credit Cards charge Rs 100. (In fact, most representatives at SBI quote a charge for duplicate e-statements as well).

Foreign currency transactions: Transactions outside the country are converted into Indian Rupee at a rate suggested by Visa/Master (network infrastructure provider). Apart from charging 2.5 per cent on foreign transactions, banks levy an extra 1 per cent towards reimbursements to Visa/Master.

There are other charges on cheque return, pin replacement, card replacement and outstation teledraft.

And it does not end there. Even the government penalises expenses on credit cards by charging the customer a service tax of 12.36 per cent on the total value of the transaction.

However, even a customer who may roll over, yet prepays as much as possible, (above the minimum 5 per cent) does suffer because of the way the interest on the outstanding amount is calculated. Let's take an example of how credit card companies charge. Typically, most credit cards allow a person to pay between 5-10 per cent of the outstanding. The rest can be rolled over to the next month.

But even if the card holder prepays a good 40 per cent of the outstanding bill, the card issuer does not take into consideration this paid amount. Instead, the credit card company keep charging interest on all the transactions made until the entire outstanding is paid off. (See interest pinch)

INTEREST PINCH
	Transaction Details	Transaction Amount (Rs)
1/7/2008	Shopping	50,000
5/7/2008	Shopping	40,000
5/7/2008	Dinner	10,000
21/8/2008	Payment Made	40,000
25/8/2008	Groceries	4,000
8/26/2008	Petrol	2,000
Interest on the entire outstanding balance of Rs 100,000 at 3 per cent a month (July 30 - August 21 - 23 days). Though Rs 40,000 is paid, the interest is charged on the entire Rs 1 lakh and not on Rs 60,000
Interest on Rs 60,000 (remaining balance, after Rs 40,000 is paid) at 3 per cent a month (August 22 - till  August 29)
Interest on Rs 4,000 at 3 per cent a month on groceries from (August 25 - August 29)
Interest on Rs 2,000 at 3 per cent a month on groceries from (August 26 - August 29)
Next Month if he just pays the minimum he will be charged 3 per cent on Rs 66,000 and any fresh purchases done

As it is clear from the example, even though there is no outstanding balance on June 29, but expenses incurred in August are hitting him very badly.

Similarly, cash advances too rob the cardholder of the grace period. In fact, when cash is withdrawn using a credit card, the interest is charged from the same day onwards. In other words, there are a large number of costs that you have to incur in order to maintain a credit card.

If not used diligently, credit cards can cause a real strain on finances. Of course, the best way to deal is to keep them as a convenient payment mechanism and to limit purchases. More importantly, it is pertinent that all bills are cleared at the due date.

This will ensure that you do not carry forward any balance and, in turn, not incur any exorbitant interest charges. Simple isn't it? But it is like an excellent weight loss plan that few ever implement.

(http://us.rediff.com/money/2008/sep/15perfin.htm)

Indian American behind Google Chrome

When search giant Google launched its own Internet browser, Google Chrome, on September 2, it has one Indian American to thank for making it possible.

Sundar Pichai, a technology whiz-kid and an IIT-ian, was responsible for the development of the Google browser as the company's vice president of product development.

"We realised that we needed to completely rethink the browser. The Web gets better with more options and innovation Google Chrome is another option, and we hope it contributes to making the Web even better," Google's Sundar Pichai said in a blog post.

Pichai believes Chrome can capture a sizeable portion of the market. His blog also said that Chrome was designed for newer online content, such as videos, television and music.

Chrome is an open-source Web browser designed to rival Microsoft's new Internet Explorer version 8 and Mozilla Firefox.

The browser can be downloaded for free and since it has an open source code, no rights will have to be paid by those who use it.

With this, the Google strategy to become the category leader in all Internet-related areas is very apparent. Currently, Microsoft's Internet Explorer has over 70 per cent market share, followed by Mozilla Firefox at a distant second spot.

Pichai joined Google in 2004 and now leads product management and innovation efforts for a suite of Google's search products, including Google Toolbar, Chrome, Desktop Search, Gadgets, Google Pack, Google Gears, Firefox extensions and Mac products.

He has over 12 years of experience developing high-tech consumer and enterprise products. Before joining Google, he held various engineering and product management positions at Applied Materials, and was a management consultant with McKinsey & Company for a variety of software and semiconductor clients.

He holds an MS from Stanford University and an MBA from the Wharton School, where he was named a Siebel Scholar and a Palmer Scholar.

"He is responsible for our overall desktop strategy and ensuring access to Google services for our desktop users," said Google spokesperson Jay Nancarrow.

(http://us.rediff.com/money/2008/sep/05google.htm)

Portfolio of Rakesh Jhunjhunwala

For all those affiliated with the stock market, it is always fascinating to know what the other person is investing into, what are the stocks owned? Call it human nature, but its always interesting to know what the other person does, the ever inquisitive nature of mankind.

So we were also a bit inquisitive and decided to take a look at the holdings of Rakesh Jhunjhunwala, one of the savviest and smart investors on Dalal Street. He is a CA by profession and his name catapulted into fame when Forbes, in 2007, ranked him as the 51^st richest man in India. Son of an income tax officer, he started dabbling in stocks while in college. Rather than take a job, he plunged into investing, starting with around Rs.5000 in 1985 when the BSE Sensex was at 150; it is now over around 14,000. His privately owned stock trading firm Rare Enterprises, derives the name from first two initials of his name and wife Rekha's name.

Hence we thought it would be very interesting to know about his holdings and the stocks which he holds a substantial stake in. He is a long term investor and does not trade for short term profit. Take a look at his portfolio and maybe learn a few lessons. These shares are held by Rakesh and his wife Rekha Jhunjhunwala and form a part of his disclosed portfolio. There could be more holdings through companies, trusts, proprietary accounts which are not in the public domain.

NAME OF COMPANY	SHARES HELD (as on 30/06/08)	PRX (as on 5/08/08)	VALUE (Rs.in crores)
TITAN INDUSTRIES	39,85,756	1277	508.98
PRAJ INDUSTRIES	1,33,76,624	188	251.48
LUPIN LTD	27,52,135	753	207.24
CRISIL	5,50,000	3631	199.70
NARAGJUNA CONSTRN	1,24,50,000	134	166.83
BILCARE	20,25,000	640	129.60
PUNJ LLOYD	50,40,000	291	146.66
PANTALOON RETAIL	23,30,895	353	82.28
KARUR VYSYA BANK	24,94,073	348	86.79
BHUSHAN STEEL	8,20,000	922	75.64
GEOJIT FINANCE	1,80,00,000	43	77.40
PROVOGUE INDIA	3,80,000	850	32.30
GARWARE WALL ROPE	5,00,000	86	4.30
PRIME FOCUS	8,82,500	460	40.59
VICEROY HOTELS	47,50,000	51	24.22
INFOMEDIA INDIA	15,06,062	155	23.34
AGROTECH FOODS	17,03,259	126	21.46
ZENOTECH LABS	11,50,000	113	12.99
MID-DAY MULTIMEDIA	22,50,000	26	5.85
ION EXCHANGE	5,00,000	153	7.65
ZEN TECHNOLOGY	5,00,000	164	8.20
ALPHAGEO	1,25,000	413	5.16
JB CHEMICALS	10,81,650	47	5.08
AUTOLINE INDUSTRIES	12,11,622	182	22.05
MRO TEK	5,70,834	51	2.91
HIND OIL EXPLOR	61,00,666	136	82.97
TOTAL VALUE OF PORTFOLIO – Rs. 2231.67 crore.

How to score points with your boss

People don't leave jobs -- they leave their bosses" is an age-old cliche. This statement almost makes bosses look like much-hated autocrats.

However, if you were to dig deep into the boss-employee relationship, it's not always the boss who is to blame. The responsibility of building a strong relationship lies equally on the employees as well.

So, to improve your relationship with your boss, here are a few easy tips:

Be supportive
Support your boss with last-minute presentations, paperwork or arranging a meeting with clients instead of spending time over a gossip session. These are the small things that will strengthen your relationship with your boss and get you noticed. Every boss loves the team member who helps them with the finer details and makes their life a little easier.

Extend respect
Listen to your boss and respect the fact that s/he also has relevant experience and is acting in the company's interests. His/her goal is to make sure that there is a consensus within the team.

A few interaction skills that make a big difference to a respectful atmosphere in your organisation include not interrupting conversations, asking if the person has time to talk and listening to ideas. Remember not to be a know-it-all or in such a hurry that you finish the other person's sentence.

Be sure to comment on their ideas to let them know you have really been listening, not just waiting for them to take a breath so you can jump in with your agenda. Being skilled and intelligent is no compensation for the lack of life experience.

Be genuine
Never try to fake it when you are actually not interested in listening and taking instructions. Be genuinely interested in what s/he is saying. Try and understand his/her point of view and act accordingly. It is always advisable to revert to your boss in case you do not have clarity on a certain issue. Seek his/her support to prepare an action plan. A genuine interest will help you develop trust required for a professional relationship. Take keen interest in new projects and do some due diligence to make it a success.

Communicate honestly
Try to communicate transparently. Don't make commitments that you cannot keep; this will call for some amount of planning from your side. Deliver information which is true and based on facts -- this will not only make you credible, your colleagues will look up to you for support.

Most bosses have a knack of remembering what you say and a commitment that was not met may haunt you after six months during the performance appraisal discussion. A little bit of caution can save nasty surprises towards the end.

Appreciate your boss
Your boss does care what you think about them, s/he however does appreciate your mentioning his/her good work. When you do recognise job well-done, be specific in your compliments. Refrain from saying in an off-handed manner, "Oh, great work, boss." Make it more personal: "Boss, that is the best research that has come across my desk in the last six months. Excellent work. If your boss comments, "Good presentation." Refrain from saying, "Oh, it was nothing." Deflecting a compliment often draws unwanted attention and belittles both you and the person offering the compliment. Just say, "Thank you."

Don't lock horns with your boss
Bosses don't like nor do they cooperate with people who they think are against them. When you are against something, the person thinks you are against them personally. Once you voice your opposition to another person's idea, you become part of the problem. It's as if a war has started with each of you fighting to be right. When you are for something, you begin focusing on the potential for positive change. You start the process of collaboration.

Some people carry this inward, self-focus into the workplace which leads to professional relationships turning sour. Make sure that you play an active role in building a strong relationship with your boss rather then expecting to be pampered all the time.

(http://us.rediff.com/getahead/2008/aug/15office.htm)