OPINION, P2 MIND & GAMES Emulate,do not envy IDEA EXCHANGE WHICH IS BETTER, REWARDS OR PUNISHMENTS? NEITHER M Rajeevan 'We don’t know when to open dams, how to open them... We need a scientific system' Page 4 Rewards and punishments are conditional, but our love and positive regard for our kids should be unconditional. Here’s how to change the conversation and the behaviour Page 10 ACROSS THE AISLE , P CHIDAMBARAM Vol XVII No 44 Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM LEISURE ARTGOES ALGORITHM NEW DELHI SUNDAY, AUGUST 26, 2018 14 Pages, `10 (Patna `11, Raipur `10) Over 71,500 farmers and 1.25 lakh agricultural traders in Maharashtra have taken loans from banks since 2012-13 by pledging receipts of their produce The Maharashtra State Warehousing Corporation has set up warehousing facilities in 198 centres in urban and rural areas with a capacity of 20.88 lakh tonne with 1,201 godowns NANDA KASABE & PRABHUDATTA MISHRA Pune/New Delhi, August 25 Nod to procurement of 111 helicopters at over`21,000 cr AHEAD OF the Indo-US ‘2+2 dialogue’ scheduled on September 6 in New Delhi, the Defence Acquisition Council, chaired by defence minister Nirmala Sitharaman, on Saturday approved the procurement of 111 utility helicopters for the Indian Navy at a cost of over `21,000 crore, reports FE Bureau. PAGE 3 ROHNIT PHORE All warehouses have insurance cover against fire, rot, storm, tempest and flood Between 2013 and 2015 a total of 11,441 farmers have allegedly committed suicides in Maharashtra. The state has recorded 696 farmer suicides in the first 3 months of 2018 Continued on Page 11 Festivity amid flood Two men dressed as King Mahabali bring cheer at a relief camp in Kanichukulangara, Kerala, on the occasion of Onam on Saturday VIGNESH KRISHNAMOORTHY Tesla to remain public company: Musk REUTERS San Francisco, August 25 TESLA CEO ELON Musk said late on Friday he would heed shareholder concerns and no longerpursuea$72-billiondeal totakehisUSelectriccarmaker private, abandoning an idea that had stunned investors and drawn regulatory scrutiny.The decision leaves Tesla as a publicly listed company, but raises Tesla CEO Elon Musk newquestions about its future. Its shares have been trading below their August 7 levels, when Musk announced on Twitterhewasconsideringtaking Tesla private for $420 per share, as investors wondered what the long-shot bid meant for Musk's ability to steer the companyto profitability. MusksaidonFridaythathis belief that there is more than enough funding to take the company private was reinforced during the process. Continued on Page 11 The Maratha war in regional TV Jet to relook into ● With Marathi speaking viewers on the rise, networks are getting aggressive with channel launches ANIRBAN ROY CHOUDHURY Mumbai, August 25 WITH MAHARASHTRA AND Goa cornering 14% market share in terms of overall TV viewership, with a growth of 74% in 2017 as pera FICCI-EY report, interest from channels hasonlygoneup.SonyPictures Networks India (SPNI),too,has unleashed its plans for the genre by launching its second regional general entertainment channel, Sony Marathi, after Sony Aath in 2008. With Sony Marathi on air, all the four major networks (Zee, Star India, Viacom18 and Sony) now have a presence in the Marathi market. “Ifyou look at Maharashtra as a market, you will see there are multiple independent Growth in television viewership in India 63 74 33 27 30 % of growth 58 68 38 16 Bhojpuri GEARING UP for the 2019 Lok Sabha election, the Congress on Saturday formed three crucial committees to look after coordination, manifesto and publicity in the polls, with the old guard maintaining its position in the core set-up under party president Rahul Gandhi, reports PTI. PAGE 14 with 1,201 godowns. Private warehousing could be nearly 10 times bigger. In Maharashtra, the Warehousing Development and Regulatory Authority (WDRA) was constituted in October 2010 under the Warehousing (DevelopmentandRegulation) Act. The authority accredits warehouses and allows them to issue warehousing receipts. Bangla Rahul forms key panels for 2019 polls, banks on old guard clutches of spurious commission agents.This will also help reduce farmer suicides,which are high in the state. MSWC chairman Suhas Diwase told FE that traders weregivenloansworth`1,100 crore and farmers `290 crore under the scheme till July.The corporation has established warehousing facilities in 198 centres in urban and rural areas across the state with a capacity of 20.88 lakh tonne Punjabi OVER 71,500 FARMERS and more than 1.25 lakh agricultural traders in Maharashtra have taken loans from banks — nationalised,private and cooperatives — since 2012-13 by pledging receipts of their produce stored in warehouses. While the Centre is prodding otherstates also to emulate the model,onekeychallengeforthe Maharashtra State Warehousing Corporation (MSWC) is to increasethenumberoffarmers who use this innovative loan facility so they can avoid the QuickPicks ODD & EVEN AGRI BOOST Marathi Everything about money and finance explained in a set of three books, Easy Money: Volumes I, II & III, by Vivek Kaul Page 5 ● Loans being issued against warehouse receipts; traders given loans worth `1,100 cr and farmers `290 cr till July Kannada THE MONEY TRILOGY Maha shows the way to easier farm loans Telugu WORDSWORTH CASHING IN ON CROPS Malayalam Traversing the urban landscape to explore one’s city through the prism of food, heritage or photography is common. What you might not have heard about are initiatives of some environmentalists and organisations that are curating ‘walks for a cause’ Page 7 PUBLISHED FROM:AHMEDABAD, BENGALURU, CHANDIGARH, CHENNAI, HYDERABAD, KOCHI, KOLKATA, LUCKNOW, MUMBAI, NEW DELHI, PUNE Hindi WALKING THETALK READ TO LEAD Tamil SPOTLIGHT FINANCIALEXPRESS ON SUNDAY Issues of labour, perception and creativity crop up at an exhibition of art pieces created by machines Page 8 Source: FICCI-EY Report Growth in viewership in 2017 over 2016 (CY) urban centres like Mumbai, However, from an adverPune, Nashik and Kolhapur, tiser’s point of view, there are unlike some others where the other markets that are more urbancentreisrestrictedtothe indexed, as per Ashish Phercapital of that wani, partner, state,” says Ajay OTT has come in as media and enterBhalwankar,busi- an encouragement tainment adviness head, Sony as it has enhanced sory services, EY. Marathi. “As This would mean the distribution much as `800that the SEC A+ 1,000 crore of option for regional audience in content creators advertising Mumbai is less moneyis spent on likely to watch Marathi televiMarathi TV while sion programming — a market the affluent in Kolkata may wherethetimespentwatching prefer to consume content in televisionis1,400minutesper theirregional language.Thereweek across 23.7 million fore, the Marathi television households. That is a lot comeswith its own challenges. of opportunity.” Zee,which commands over 50% of viewership in the Maharashtra market (as per BARC India), operates three regional channels — Zee Marathi and Zee Talkies, followed by Zee Yuva launched in 2016.“Yuva caters to anyone with a youthful mindset. This could be a 60-year-old viewer, but with a progressive mindset,” says Amit Shah, cluster head,regional,Hindi speaking markets,ZEEL. As per recent media reports, southern broadcaster Sun TV also has plans of launching a Marathi general entertainment channel; this could make Maharashtra the only market with five major broadcasters in operation. OTT, too, has come in as an encouragement for regional players as it has enhanced the distribution option for regional content creators.“If there are 20 households in Tamil Nadu interested in Marathi content,a cable operatormaynot carrythe channel solely for them, but on OTT, it is possible to consume such content,”Pherwani adds. With regional content in the spotlight,there is room for segmented offerings as well. Continued on Page 11 structure, costs at board meet MANISHA SINGHAL Mumbai, August 25 ORGANISATIONAL RE-STRUCTURING, OPTIMISING salesand distributioncosts,customising fares and redesigning its network are some of the issues likely to be discussed at the Jet Airways board meeting on August 27. The company has already said that apart from takingupthecompany’sunaudited financial results for the April-June quarter, cost reduction measures and a restructuring plan will be discussed. Manpower rationalisation is important for Jet as it is considered to be top-heavy, with around 25 vice-presidents. Though reportedly its top level executives have taken a pay cut of 35% and at VP level of about 25%, this is not considered enough and there’s scope for more cost-cutting, industry sources said. However, the company’s efforts to persuade its pilots to take a pay cut had failed recently. Jet Airways, the second- The airline has not posted a profit for the past 11 years, barring FY16 and FY17, but its employee costs have been on the rise largest airline bymarket share, has not posted a profit for the past 11 years, barring FY16 and FY17, but its employee costs have been on the rise. Over the past five years, employee costs have grown at a CAGR of 13.7%,while revenues grewatjust4.8%.Incomparison, Jet'scompetitorIndiGo’srevenue during the same period on a CAGR basis grew by 20.13%, whileitsemployeecostswentup by 28.63%. The company has been looking at ways to reduce costs amid high oil prices and intensecompetition. Breeze through airports with just face ID soon AAI to launch pilot project for ‘DigiYatra’ coming January ARUN NAYAL New Delhi, August 25 THE LONG QUEUES at entry, check-in counters and boarding gates at airports could be a thing of the past. Soon, flyers can use theirfacial identityfor swift and hassle-free movement inside airports.The ministry of civil aviation is planning to roll out this paperless travel scheme, called DigiYatra,starting January next year, with a pilot project at Uttar Pradesh’s Varanasi airport. “ DigiYatra is planned for four AAI Airports (Kolkata, Vijaywada,Varanasi and Pune) inthefirstphase.Thepilotpro- ject at Varanasi is expected to take off in January 2019. The facility at these phase-1 airports will be available by July 2019,” Airport Authority of India (AAI) chairman Guruprasad Mohapatra told FE. For this, airport operators will form a joint venture to steer the DigiYatra project. A passenger opting for digital travel needs to enrol forthe DigiYatra portal, creating a uniqueID.Thisspecialnumber would contain details like name and email ID of the air travellers.TheDigiYatraIDwill also form part of the travel ticket.As pergovernment officials, a passenger’s image cap- FOR A HAPPY JOURNEY ■ DigiYatra is planned for four AAI Airports (Kolkata, Vijaywada, Varanasi and Pune) in the first phase ■ The DigiYatra ID will also form part of the travel ticket ■ At the airport, Varanasi is expected to take off in January 2019 passengers will have to authenticate the details filled in the DigiYatra portal ■ A passenger opting for digital travel needs to enrol for the DigiYatra portal, creating a unique ID ■ A passenger’s image captured at the airport will facilitate movement throughout the travel lifecycle ■ The pilot project at tured at the airport will facilitate movement throughout the travel lifecycle. “Primary dependence on Aadhaarwillnotbethereinthe new model. Facial recognition would be used as a tool to facilitate DigiYatra because face is the least offensive of the biometric,”an official said. “At the airport, passengers will have to authenticate the details filled in the DigiYatra portal. A picture taken at the airport will form part of the local database stored against theDigiYatraIDofapassenger, whichwillfacilitatemovement atotherairports,”heexplained. The state-owned airport operatorhad plans to facilitate passengermovement through Aadhaar-based biometric authentication.ButtheUnique Identification Authority of India (UIDAI) had denied permission to share the biometric details of citizens with airport operators. There have been several incidents of Aadhaar data leaks raising doubts over the safety of biometrics. The draft proposal laying the guidelines for DigiYatra is likelytobefinalisedinthecoming days.The ministry has discussed the latest model with Infosys co-founder and the man behind the UIDAI, Nandan Nilekani, and other stakeholders like private airport operators,Directorate General of Civil Aviation and Bureau of CivilAviation Security. Indian airports have an annual capacityof 334 million passengers. AAI estimates airport traffic to double in the next decade, with domestic air travel demand growing at 17% annually.
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