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Saturday, December 9, 2023

Amitabh Chaudhry MD& CEO Axis Bank

 

                          Amitabh Chaudhry 

                        MD& CEO Axis Bank

 

Amitabh Chaudhry has been helming Axis Bank from 1st January 2019. He was 54 when he took over. It has been 5 years. He is the passionate, focussed and measured banker with a clear agenda.

 

As he had turned around HDFC Life and was basking in the success of its IPO with the most successful listing, no one had ever thought that he would move over.

 

He says, “In the last five years, I’ve constantly reminded myself that if there is a choice between something short term and long term, let’s go with long term, and if there is a hit which happens because of that, it’s okay.”

 

He has the technology background with his stint as MD&CEO Infosys BPO.

 

He articulates, “I worked for a foreign bank. I left it and was out of banking for a long period of time.” “Diversity helps because you have questions which don’t have easy answers. You can bring perspectives from outside which people who have been working within the system for long lose because they are in it every day.” “You have to watch your risk and react. You have to be seen as the crouching tiger that seizes every opportunity.” “Scale will come easily if I am giving the best customer experience in the industry.”

 

 An avid reader, he takes to his hobby only after he’s done catching up with e-mails. “I do read my e-mails, and I don’t let anyone else do it, especially because there are customer complaints.”

 

His team reveal he’s up to date with every customer complaint, and won’t let go till it’s sorted.

 

He concludes, “I came with my eyes and ears open and knew there will be challenges. Covid, obviously did not help. But going through this journey and working with a wonderful set of people has been a great journey, and I have no regrets whatsoever.’

 

Condensed from an article in BusinessLine, 4th December2023

Sunday, August 14, 2022

HUGE TALENT POOL

 

HUGE TALENT POOL 

Too much of a good thing can be dangerous

The retirement age for Govt. Employees was 58 or 60 when the state of Kerala came into being. I believe the latter is correct. In 1957 the Govt. brought it down to 55. It was raised to 56 in 2012 by the Oommen Chandy led Govt.

 Retirement age for Central Govt. employees is 60.

In Kerala the entry point to Govt service is 36 in General. It is above 40 for special categories. I could be wrong here.

When people are retired at 56, they are at their peak performance level. Sending them home with pension serves them well, but not for the state or the people. The pensioners have the fire in them. And life span has gone up over the years.  The Govt. pays the pension to former employees for doing nothing. Certainly one can argue that pension is the deferred payment of wages.

When the employees serve the Govt. there is value for money. Once they become pensioners the Govt. or the people get no value for money. It makes no economic sense.

Added to that the ever-galloping inflation forces the Govt. to revise the Salaries of Govt. servants and consequently the pension periodically. No harm there. It is natural justice.

The contention is that when people have nothing to do, they become Lotus Eaters. The question is, is it right? Transforming creativity to laziness is the worst any Govt. in its right senses can do.

Pay Pension by all means. Enhance it from time to time. People have to survive and lead a decent life. But make use of the huge talent pool that is unwittingly converted to the status of Lotus Eaters.

There is no harm in raising the retirement age to 60 in Kerala. Why do we hesitate to fall in line with the Central Govt. pattern? It could be that there is an ocean of the unemployed waiting to get into Govt. service to secure their lives. But how many are really getting in? A miniscule minority. The real function of a successful Govt. is to generate alternative opportunities for its people.

The pensioners too have to be employed to get the best out of them. And do not send them home at 56 when there is still fire in them. Idling away  creativity at the prime is the harbinger of economic disintegration.

Too much of a good thing can be dangerous.

 

 

 

 

 

 

Sunday, March 13, 2022

Bone marrow Transplant

 

 What does one do in Kerala when he goes jobless for years together? Especially when his family is in penury.

He tries to migrate or emigrate. It is not that he is after riches. The intention is to land a job abroad and ensure a better lifestyle for the family with his earnings.

Rajesh just did that.

Vilayasserril Rajesh went abroad with great difficulty. A native of Kunthirical, Thalavady in the District of Alappuzha, Kerala, India, Rajesh had limited options. He could have stayed on in his native place performing odd jobs. But abject poverty drove him to distant shores.

He found a job in Dubai, the paradise or the land of promises or the land of milk and honey for all Keralites.  The compensation wasn’t mind boggling. In fact it hardly sufficed. However, the family in India was sustained by inward remittances of. Rajesh. Family meant, Rajesh’s parents, his wife and his son.

Alas, everything went topsy-turvy when Rajesh collapsed at the work place. There was medical intervention at once. The diagnosis stunned Rajesh as well as his family. He was in need of Bone marrow transplant to save his life. Rajesh returned to India as the cost of treatment abroad was beyond his means.  It meant he rejoined the ever-swelling ranks of the jobless of our country. He was admitted to Believer’s Church Hospital in Tiruvalla.  The Hospital has estimated the cost of the treatment as Rs.20.00 lacs.   

Rajesh and his family know they are outwitted. The family resides in an apology of a house – a ramshackle contraption -  in a 2 cents’ plot in Kunthirical, Thalavady. For the uninitiated it is Kuttanad, the granary of Kerala, but susceptible to waterlogging and heavy flooding that occurs without notice at any point of time.  Even if they sell the property,  Rs.20.00 lacs. would remain a distant dream as property prices have not sky rocketed there. Further, the disposal of the property would transport the family to the homeless, jobless status and abject penury where the recent trend or fashion in Kerala is ending it all on a whim. Well, Rajesh and his family do not subscribe to that philosophy. They are battle scarred but not battle weary. Hope leads them. They believe the impossible is not their destiny. 

The trials and tribulations of Rajesh and his family raises questions upon the whole humanity.

We have to immerse ourselves in empathy. It is imperative, when we are well off even on a constricted scale, we lend a hand to assist those in need. Who knows what tomorrow holds for us. 

How wonderful it would be if people think of Rajesh and his family for a moment and act decisively to make the world a better place for them as well as us.

 

 

 

 

Sunday, October 10, 2021

 

PALANIVEL THIAGA RAJAN

Finance Minister, Tamil Nadu.

 

Lineage

Grandson of Sir P.T. Rajan, former Chief Minister, Madras Presidency

Son of PTR Rajan, former Tamil Nadu Assembly Speaker and Minister

Qualification

B.Tech(Hons) from NIT Trichy

Masters and PhD from State University of New York

Formerly an investment banker at Lehman Brothers and Standard Chartered in New York and Singapore.

 

Attributes his sense of inner stability to two major events – a miraculous escape during 9/11 attacks (his office was in the basement of the twin towers) and his job with Lehman Brothers during the 2008 freefall.


“You realize nothing is permanent”, he says.

In a corporate set up you strive to add to your own value. In public life you have to add value to society.

Inclusive growth – everybody has access to everything within the boundaries of social and economic fairness.

“I do not need to name drop. I am who I am. And, yes, every chance I get, I invoke my ancestors because it is our Tamil culture to pay respect to our forefathers”

“My sons are young at 16 and 11. I am not going to put any pressure on them. I want them to study well, see the world and do what interests them.”

“I am fortunate to have been blessed with a strong partner. Margaret and I met at university. She has adjusted well to life in India. She keeps the sons grounded. Though it hurts, we deny them certain luxuries because we want them to understand that we are instilling certain values.”

“I love to spend time with my family. They are my lifeline and laughter is our medicine. Our pets bind us. The five dogs and a kitten at home are my best stress busters. . 

In a corporate set up you strive to add to your own value. In public life you have to add value to society.

Inclusive growth – everybody has access to everything within the boundaries of social and economic fairness."

“I do not need to name drop. I am who I am. And, yes, every chance I get, I invoke my ancestors because it is our Tamil culture to pay respect to our forefathers”

“My sons are young at 16 and 11. I am not going to put any pressure on them. I want them to study well, see the world and do what interests them.”


(Excerpts from a 40 minute slot seamlessly transcended into a 140 minute off beat conversation with Soma Basu, published in The Hindu Magazine of 10 October 2021)

 

 

 

Monday, June 14, 2021

YOU CAN’T OUT – AMAZON AMAZON Purple Cow Seth Godin

 

YOU CAN’T OUT – AMAZON AMAZON

No one will argue with you if you claim that Wal-Mart is the biggest, most profitable, scariest retailer on earth. So, when Wal-Mart was frantically trying to catch up with Amazon.com, what did they have plastered on a banner in their offices?

 

YOU CAN’T OUT – AMAZON AMAZON”

It is a great insight. Even this mighty retailer realized that just copying Amazon’s strengths wouldn’t be sufficient. Once someone stakes out a limit, you’re foolish to attempt a pale imitation. The democrats will never be able to out – Republican the Republicans. Reebok can’t try to out – Nike Nike and JetBlue didn’t try to out – American American.

You have to go where the competition is not. The farther, the better.

Purple Cow

Seth Godin

 

The indication is, you have to be one up on Amazon in everything, everywhere to make a splash, a mark.

It is akin to what Novak Dojokovic described after beating Rafael Nadal in one of the most exclusive semifinals in the  French Open at Roland Garros, Paris, on 12th June 2021

3-6, 6-3, 7-6, 6-2

 

“You have to climb Mt.Everest to win against this guy”

It is reported the 90 minute third set is reserved for eternity where two of the sports’ greatest pushed each other to their limits.

The Serb’s victory is special because it was on a surface where the Spaniard – 13 time French Open winner   had seldom been challenged.

 

EXTRACTS FROM ‘PURPLE COW’ Transform Your Business by Being Remarkable Seth Godin

 

EXTRACTS FROM ‘PURPLE COW’

Transform Your Business by Being Remarkable

Seth Godin

The author and his family were driving through France. They were enchanted by the hundreds of storybook cows grazing on picturesque pastures right next to the highway. For dozens of kilometers they gazed out the window, marveling about how beautiful everything was. Then, within twenty minutes, they started ignoring the cows. The new cows were just like the old cows. What was amazing became common, worse than common and boring. The author perceives a Purple Cow if found grazing would be interesting for a while. He writes, the essence of the Purple Cow is that it must be Remarakable.

If you are remarkable, it is likely that some people won’t like you. That’s part of the definition of remarkable. Nobody gets unanimous praise - ever.  The best the timid can hope for is to be unnoticed. Criticism comes to those who stand out.

Where did you learn how to fail? You probably might have learned it in the first class. That’s when you started figuring out that the safe thing to do was to fit in.

We’ve been raised with a false belief. We mistakenly believe that criticism leads to failure. From the time we get to school, we’re taught that being noticed is almost always bad. It gets us sent the principal’s office, not to Harvard.

Some restaurants in New York are just plain dull in comparison with few amazing restaurants there. Why? Simple. After spending all that money and all that time opening a restaurant, the entrepreneur is in no mood to take yet another risk. A restaurant that’s boring won’t attract much criticism.

The problem with people who would avoid a remarkable career is that they never end up as the leader. They decide to work for a big company, intentionally functioning as an anonymous drone, staying way back to avoid risk and criticism.

However Safe is risky. Be exceptional.

Remarkable people are often recruited from jobs they love to jobs they love even more.

When Herman Miller introduced the $750 Aeron chair in 1994, it was a radical risk. But everyone who saw it wanted to sit in it., and everyone who sat in it wanted to talk about it. Sitting in the Aeron chair sent a message about what you did and who you were.

Mass marketing demands mass products. And mass products beg for mass marketing.

Ideas that spread, win. A brand (or a new product offering) is nothing more than an idea. Ideas that spread are more likely to succeed than those that don’t. The author calls ideas that spread, ideaviruses. Sneezers are the key spreading agents of an ideavirus. Sneezers launch and maintain ideaviruses. They are the experts who tell all their colleagues or friends or admirers about a new product or service on which they are a perceived authority.

You can no longer reach everyone at once. And if you don’t grab the attention and enthusiasm of the sneezers, your product withers.

Remarkable is the way you answer the phone, launch a new brand or price a revision to the software.

Brad Anderson, CEO of Best Buy says, “Instead of selling what we wanted to sell we sold what people wanted us to sell, and then figured out how to make money doing it. Every time we talked to our customers, they wanted us to follow the path that turned out to be the hardest possible path we could follow. And every time, that path was the right path.”

When a store is in the initial stages, if someone asks for a product, someone would walk him over. After a while what happens is nobody walks you over. Someone would point in a vague direction and say, “Over there.” It would mean a lost business opportunity.

The grocery business is pretty special in that once you stake out a location, you can profit from it for a very long time. There’s also not much chance that grocery stores are going to go out of style, so your ride on top is pretty long indeed.

“Marketing is too important to be left to the marketing department” David Packard

 

Sunday, June 6, 2021

The Plague Albert Camus and Covid 19

 

The Plague

Albert Camus

and

Covid 19

 

The Plague is a novel about a plague epidemic in the large Algerian city of Oran. In April, thousands of rats stagger into the open and die. When a mild hysteria grips the population, the newspapers begin clamoring for action. The authorities finally arrange for the daily collection and cremation of the rats. Soon thereafter, M. Michel, the concierge for the building where Dr. Rieux works, dies after falling ill with a strange fever. When a cluster of similar cases appears, Dr. Rieux's colleague, Castel, becomes certain that the illness is the bubonic plague. He and Dr. Rieux are forced to confront the indifference and denial of the authorities and other doctors in their attempts to urge quick, decisive action. Only after it becomes impossible to deny that a serious epidemic is ravaging Oran, do the authorities enact strict sanitation measures, placing the whole city under quarantine.

Dr. Rieux's mother comes to stay with him while his wife is away. Meanwhile, Dr. Rieux contacts Mercier, the man in charge of pest control, to suggest that sanitation measures be taken. The public begins to feel uneasy when the flood of dying rats continues to increase. The newspapers clamor for the city government to address the problem. In response, the city arranges for the daily collection and cremation of the corpses. Just as a mild hysteria begins to grip the public, the phenomenon abruptly disappears.

The same day, Dr. Rieux meets Father Paneloux, a Jesuit priest, escorting a feverish, weakened M. Michel to his home. M. Michel's neck, armpits, and groin are swelling painfully. Dr. Rieux promises to visit him later in the afternoon. Meanwhile, he receives a telephone call from a former patient, Joseph Grand, regarding an accident suffered by his neighbor, Cottard. Upon his arrival, Dr. Rieux discovers that Cottard has tried to hang himself. Cottard becomes agitated when Dr. Rieux states that he will have to submit a report about the incident to the police. Dr. Rieux visits M. Michel to find his condition worsening. M. Michel dies in an ambulance en route to the hospital.

Other victims succumb to the same illness in the days that follow. The narrator introduces the reader to Jean Tarrou, the author of the written documents mentioned earlier. Tarrou, a vacationer in Oran, keeps notebooks containing detailed reports of his observations about daily life in Oran. He records conversations regarding the appearance of the mysterious illness in the wake of the dying rats. An old man periodically comes out onto a balcony opposite Tarrou's hotel room to spit on the cats sunning themselves below. When the plague of dead rats entices the cats away, the little old man seems greatly disappointed. Tarrou writes about a family of four with a disagreeable, strict father, M. Othon, who dines every day at the hotel. The hotel manager, dismayed at the dead rats in his three-star hotel, takes no comfort in Tarrou's assurance that everyone is in the same boat. The manager snootily explains that he is bothered precisely because his hotel is now like everyone else. One of the chambermaids becomes sick with the strange illness, but the manager assures Tarrou that it probably isn't contagious. In the midst of these vignettes of daily life in Oran, Tarrou ponders philosophical matters such as how not to waste one's time.

The public reacts to their sudden imprisonment with intense longing for absent loved ones. They indulge in selfish personal distress, convinced that their pain is unique in comparison to common suffering. After the term of exile lasts several months, many of Oran's citizens lose their selfish obsession with personal suffering. They come to recognize the plague as a collective disaster that is everyone's concern. They confront their social responsibility and join the anti-plague efforts.

Camus writes,” A pestilence isn't a thing made to man's measure; therefore we tell ourselves that pestilence is a mere bogy of the mind, a bad dream that will pass away. But it doesn't always pass away and, from one bad dream to another, it is men who pass away, and the humanists first of all, because they haven't taken their precautions. Our townsfolk were not more to blame than others; they forgot to be modest, that was all, and thought that everything still was possible for them; which presupposed that pestilences were impossible. They went on doing business, arranged for journeys, and formed views. How should they have given a thought to anything like plague, which rules out any future, cancels journeys, silences the exchange of views. They fancied themselves free, and no one will ever be free so long as there are pestilences.”

“But once the town gates were shut, every one of us realized that all, the narrator included, were, so to speak, in the same boat, and each would have to adapt himself to the new conditions of life. Thus, for example, a feeling normally as individual as the ache of separation from those one loves suddenly became a feeling in which all shared alike and, together with fear, the greatest affliction of the long period of exile that lay ahead. One of the most striking consequences of the closing of the gates was, in fact, this sudden deprivation befalling people who were completely unprepared for it.”

“And in the warm darkness of the summer nights the cars could be heard clanking on their way, laden with flowers and corpses.”

When the epidemic ends, the public quickly returns to its old routine. But the battle against the plague is never over because the bacillus microbe can lie dormant for years. The Plague is the chronicle of the scene of human suffering that all too many people are willing to forget.

The most meaningful action within the context of Camus' philosophy is to choose to fight death and suffering. In the early days of the epidemic, the citizens of Oran are indifferent to one another's suffering because each person is selfishly convinced that his or her pain is unique compared to "common" suffering.

The Plague is a transparent allegory of the Nazi occupation of France beginning in spring 1940. The sanitary teams reflect Camus' experiences in, and admiration for, the resistance against the “brown plague” of fascism.

The narrative is entirely sourced from multiple references in the Internet.

Covid 19 has unleashed endless restrictions and Lockdowns that radically constrict our life.

We are at once ravaged by the Pandemic and the enforcers, a minority of whom, in the garb of protecting lives, revel in exhibitionism of the ultimate in superciliousness conjoined with an annihilating power and invective expressions.

We can only hope and pray that Covid 19 signs off from the surface of the earth just as it had burst out unsolicited shattering our sedentary lives quite similar to the dousing of the Plague in Oran as evinced  in ‘the gripping yet explosive narrative  by Albert Camus.