India Semiconductor Association appoints Dr Pradip Dutta as chairman

Dr Pradip Dutta, corporate vice president and managing director, Synopsys (I) Pvt Ltd, is the new chairman of India Semiconductor Association

Dr Pradip Dutta, corporate vice president and managing director, Synopsys (I) Pvt Ltd, is the new chairman and Dr Satya Narayan Gupta, chief executive officer & president, Concept2Silicon Systems Pvt Ltd has been elected as the vice chairman of India Semiconductor Association (ISA) for 2011-12. Poornima Shenoy will continue to serve as the president of ISA.

Widely acknowledged for his contributions in the field of electronic design and automation (EDA), Dr Dutta takes charge at a time when ISA is set to play a crucial role, in driving the growth of the electronics system design and manufacturing industry in India.

Dr Dutta said, "There is a lot of positive energy that can be seen in the industry today. The electronics sector in India has the potential to drive inclusive growth in the country. Acknowledging this potential, the government too is rolling out initiatives and policies to propel growth in the semiconductor and electronics industry. We at ISA are committed to working with the government and the industry to drive this agenda forward."

The members of the executive council of ISA for 2011-12 are: Dr Pradip Dutta, Dr Satya Narayan Gupta, Sanjeev Keskar, Poornima Shenoy, Dr Praveen Vishakantaiah, and Sanjay Nayak among others.

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India among the most corrupt nations: PERC

It takes two to tango and the level of corruption in the public sector would not be possible if there were not plenty of private businessmen willing to pay bribes and work the political system, said PERC

Singapore: India finds itself bracketed with countries like Philippines and Cambodia, rated as the fourth most corrupt nation among 16 countries of the Asia Pacific region surveyed by leading Hong Kong-based business consultancy firm Political & Economic Risk Consultancy (PERC), reports PTI.

PERC rated India at 8.67 on a scale of zero to 10 with the high end being the worst case of corruption scenario and ahead of the Philippines (8.9 points), Indonesia (9.25 points) and Cambodia (9.27 points).

Among the 16 countries reviewed in its latest report, Thailand was rated at 11 with a scale of 7.55, followed by China (7.93) and Vietnam (8.3).

Comparatively, Singapore was given a clean sheet with a score of 0.37, followed by Hong Kong (1.10), Australia (1.39), Japan (1.90) and USA (2.39), putting them in the top five.

In India, according to the report, civil and other local-level political leaders were found more corrupt than the national-level political leaders, with the former given a score of 9.25 and the latter slightly better at 8.97.

Indian civil servants at the city level, too, were rated at 8.18, worst than the civil servants at the national level (7.76).

"The issue of corruption has grown and overshadowed the second term in office of the Congress-led coalition headed by prime minister Manmohan Singh," said PERC in its Asian Intelligence report on Asian business and politics.

The government has been wracked by a series of scandals involving the sale of telecom licenses, preparations for the Commonwealth Games, a land scam involving high level military officers, and improper property loans made by state-owned financial institutions, it pointed out.

Though investigations were underway to be followed by court trials, Indians were still questioning whether or not the prime minister has the political muscle to fight graft and whether the actions now being taken were more for show than proof that the government was really cracking down on business practices that were common but corrupt, it said.

Mr Singh has been put in such a defensive position that most of his recent statements have been to stress how he has not personally been involved with corruption, even though it appears that almost everyone around him was, observed PERC.

"This point is underscored by a recent WikiLeaks report that the ruling Congress Party paid off parliamentarians back in 2008 to pass the US-India civil nuclear deal," it said.

The report also noted that the Federation of Indian Chambers of Commerce and Industry (FICCI) was worried that the problem of corruption and the way it was being treated in the media could seriously hurt India's international image and scare away potential investors.

It takes two to tango and the level of corruption in the public sector would not be possible if there were not plenty of private businessmen willing to pay bribes and work the political system, said PERC.

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COMMENTS

Nagesh KiniFCA

6 years ago

Jaisa raja waisa praja is equally applicable to corruption.
Indira endorsed it when she called it an universal phenomenon.
According tp Rajiv 85% leaks and his son Rahul pegs it at 95%!
All because of the great C word Corruption.
The bag that carried cash to PV was displayed at Taj.
The Lok Sabha had wads of notes.

Dewan Housing, partners acquire Deutsche Postbank Home Finance

Dewan Housing Finance has acquired Deutsche Postbank Home Finance Ltd for Rs1,079 crore

Dewan Housing Finance said it has acquired Deutsche Postbank Home Finance Ltd (DPHFL) for Rs1,079 crore.

Along with Wadhawan Housing Pvt Ltd, Caledonia Investment and Amber, Dewan Housing has acquired a 100% equity stake in Deutsche Postbank Home Finance from BHW Holding AG of Germany, Dewan Housing Finance informed the Bombay Stock Exchange (BSE).

Pursuant to the conclusion of the transaction, which took place on 25 March 2011, DPHFL has become a subsidiary of Dewan Housing, it said.

The deal was announced in December last year. Following the acquisition, Dewan Housing Finance Group's combined asset base has increased to over Rs20,000 crore.

Post-acquisition, DHFL holds a 67.5% equity stake in DPHFL. The balance sheet size of DPHFL is about Rs5,500 crore.

As of 30 September 2010, DPHFL's home loan portfolio stood at Rs4,813 crore and its net worth was at Rs524 crore. It has over 32,000 customers, serviced through 25 branches, 14 sales offices and three processing units across the country.

On Tuesday, Dewan Housing ended 8.24% up at Rs242.45 on the Bombay Stock Exchange, while the Sensex gained 0.94% to 19,120.80.

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