On the day the Finance Bill was passed in the Lok Sabha, every time the Speaker called for ‘Ayes’, the MPs — many of them first-timers — responded enthusiastically. However, when the senior Trinamool Congress MP Saugata Roy got up to move his amendment seeking a ₹3 lakh IT exemption limit, there was a flutter. Experienced BJP MPs, including Sushma Swaraj, were seen instructing their flock to say ‘No’, lest they mechanically said ‘Aye’ and saw Roy’s amendment through!

Strictly business

Senior government officials and bank chiefs, who prefer to travel business class even on short domestic flights, should take a leaf out of the World Bank. Recently, its group chief Jim Yong Kim travelled economy between Delhi and Chennai — due to the bank’s austerity rules. Economy for flights up to six hours and business for longer is applicable to all staff.

Tips from the Maharaja

Air India may not be the maharaja of the skies any more, but it can still teach private airlines a thing or two. Take two media events in the capital recently – one featuring the CEOs of Air India, Singapore, Turkish, Egypt and Austrian airlines, and the other the CEOs of Jet Airways and Etihad, which now part-owns Jet.

Journalists had unrestricted access to the CEOs of Air India and other airlines, who were more than willing to share their perspective onanything. In sharp contrast, at the Jet-Etihad event, photographers were asked to assemble at a particular point and instructed: “Don’t raise your head,” “Do not move from the chair”. At the end of the conference, journalists were not allowed to leave until the CEOs left. It was only after a journalist pointed out that that neither of them was the President, Prime Minister or SPG-protected VIP that the person blocking the exit moved aside.

Casual threat

Business seminars are not known for edgy dressing. But at a recent human resources seminar organised by Nasscom, the CEO of an IT company turned up in a flashy orange t-shirt, khaki pants and bright shoes. When the panel moderator remarked that it was visually refreshing and reflected a modern mindset, the CEO stonily replied he was “looking for the guy who told me it was an all-casuals event”!

Top heavy

Usually the private sector is regarded as a model of efficiency and public sector companies are told to learn from them. But at the annual general meeting of a commercial vehicle manufacturer, irate shareholders, who had been denied dividend, got after the senior management. The company is top heavy with too many directors, one shareholder said. Cut down the size of the board, he demanded, to loud applause from the gathering.

Note this

Counterfeit notes are finding their way into ATMs. One consumer who discovered this when a shopkeeper refused to accept the note, was none other than the banking ombudsman. At a press conference recently, he said he could do nothing beyond lodging a formal police complaint as there was no evidence. Despite instructions from the RBI to ensure authenticity of the notes in ATMs, most banks outsource this service; third party companies just do random tests.

Bewildering stand

Rakesh Shah a retail investor in Financial Technologies was overwhelmed with Kotak Bank buying a 15 per cent stake in MCX but was bewildered by the bank saying it would not claim a board seat. Instead of seeking representation on the board, the bank may put its own person to lead the exchange, he contends. “Just imagine, one puts a chowkidar (watchman) to safe guard property worth even ₹50 lakh and to say that Kotak will not seek a board seat after investing ₹450 crore in Financial Technologies is really hard to believe,” he said.

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