Jamsetji Nusserwanji Tata's brainchild, Tata Steel, has many 'firsts' to its credit in its journey of 100 years.

From being the first steel plant in India and Asia, to bagging the Anglo-Dutch steelmaker, Corus Group, the largest acquisition by an Indian company abroad, Tata Steel has lived up to its reputation of creating history.

The genesis of Tata Steel lay in a report by a German geologist, Ritter Von Scwartz, claiming significant iron ore deposits in Chanda, a district close to Chhota Nagpur. The report spurred Jamsetji who struggled till his very end to set up the plant. But three years before the plant site was discovered Jamsetji died.

He had ensured that his dream was in safe hands. The team which finally gave shape to Jamsetji's dream had C M Weld, an expert surveyor, Dorabji Tata, Jamsetji's son and Shapurji Saklatvala, who was later elected to the British House of Commons and last but not the least, Charles Page Perin, the eminent consulting engineer from New York.

Perin made what in today's parlance would be the DPR or the detailed project report for the plant. Even after the report, Perin stayed till the site for the plant was fixed at Sakchi, or what is known as Jamsehdpur (Sakchi was renamed Jamshedpur by Lord Chelmsford, the viceroy of India, and Kalimati station Tatanagar in 1919).Leveraging the swadeshi spirit which ran high during the time, Tata Iron and Steel Company Limited, as it was registered, decided to tap the Indian capital market and issued shares on August 26, 1907.Within three weeks, 8,000 subscriptions were received from Indian investors. When debentures were issued to provide the working capital, the entire issue of 400,000 pounds was subscribed by the Maharaja of Gwalior.

A total of Rs 2.32 crore (Rs 23.2 million) was raised through issuance of ordinary, preference and deferred shares, to set up a plant with a rated capacity of 72,000 tonnes per annum, 14 per cent of India's total steel requirements.

Work on the plant began in 1908 and the first ingot was rolled out on February 16, 1912. Tatas retained 11 per cent in the company.

It wasn't a smooth ride for the fledgling company, which came close to being taken over by the government quite a few times. So much so, that the Steel Industry (Protection) Bill had to be introduced in the Central Legislative Assembly in 1924 to prevent this from happening.

The fears of nationalization were to haunt the company one more time during the Janata Party rule (1977-79) when George Fernandes, the then industry minister, floated the idea. However, it did not happen.

Jamsetji dreamt of building Tata Steel but it was JRD Tata who took it to new heights. Under his leadership, the Tata assets grew from Rs 62 crore (Rs 620 million) to Rs 10,000 crore (Rs 100 billion) in 1990.Apart from being a great leader himself, JRD Tata had the rare ability to create leaders. He chose Russi Mody, a manager par excellence, to succeed him in 1984 while JRD became chairman emeritus.Mody beefed up marketing operations and started an export cell.

He also gave the company the legendary 'G' blast furnace, which he discovered on one of his holidays.The 'G' blast furnace happens to be Tata Steel's biggest blast furnace even today and created national record in 2004.

JRD Tata's successor, Ratan Tata, took over from Mody as chairman in 1992, though it was not a smooth baton-passing, and JJ Irani assumed the role of managing director.

The transition was critical in the history of Tata Steel not for the way it happened but because the company was faced with competitive pricing at the dawn of a liberalized Indian economy.

And Tata Steel was in bad shape. What came as an eye-opener was a McKinsey report in the late 1990s, asking Tata Steel to exit the steel business.

What followed was far from an exit. Drastic changes were brought about. The company was rightsized with innovative schemes so as not to disturb the industrial harmony, from around 80,000 to less than 40,000 today.The company also exited a host of non-core activities. From "We also make steel", the company made a conscious effort to establish "We make steel", operationally. The product-mix was changed as Tata Steel moved up the value chain to set up a cold rolling mill.B Muthuraman stepped into Irani's shoes in 2001. 2001-02 was also the year when steel prices touched rock bottom. But Tata Steel emerged as one of the five steel manufacturers across the world to post profits.

What followed were efforts to break the commodity cycle with branding initiatives and retailing. The steel cycle had also turned.

In the last couple of years, under the leadership of Muthuraman, the company has pulled off several global acquisitions, Corus Group being the most historic.

It's not easy for a 100-year old company to vault from 56 to sixth largest in the world and that too in its 99th year! Many century-old companies in India are living in past glory.

And only 2.1 per cent of the companies listed on the New York Stock Exchange at that time exist today. The rest have perished.

But Tata Steel seems to have just picked up speed. It's yet to peak.

Loking ahead
By 2012, its capacity of 40 million tonnes will make it the SECOND LARGEST STEELMAKER in the world
By 2015, its de-integrated capacity will be in excess of 50 MILLION TONNES
It plans to have a STRONG BASE IN INDIA and primary steel making in countries rich in iron ore, coal and gas
It will be on the lookout for ACQUISITIONS in growing and mature markets
It wants to become a GLOBAL PLAYER with balanced presence in developed European markets and fast-growing Asian markets
It will aim for OWNERSHIP OF STRATEGIC RAW MATERIALS and control over logistics

sometimes we are so much trapped in our past that w eforget to look ahead.it is important to look ahead.its difficult to leave the painful memories of past behind as this causes haertburn.the ill spoken words of people continue to hurt us long after they have been said.it is human to feel the baggage of past and feel bad about insulting moments.however the intelligent thing is to fight the trauma,look ahead and create a better future.try to involve yourself in soem work that will help in helaing as an empty mind is devil's workshop.

Mrinal Mohanka, 17, shares his experience of a three-week internship with the Grameen Bank in Bangladesh, the world's best-known micro-credit institution, founded by 2006 Nobel Laureate Professor Muhammad Yunus.


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The 21-storeyed Grameen Bank head office in Mirpur in Dhaka is always buzzing with activity. During the period I was in Bangladesh, there were government groups from Ethiopia and China who had come to study micro-credit and the Bank's efforts at poverty eradication.
This summer, over 70 interns had gathered there from all over the world to understand Professor Yunus's philosophy.

Professor Yunus believes that the poor are bonsai people -- society has not provided them with an opportunity to blossom. They have not been given the right soil to grow in. Once we give them the chance to unleash their energy, poverty will vanish.

Anyone who is a part of this incredible institution called the Grameen Bank, even if for a short spell, leaves Bangladesh enriched. Molly Jamieson, an undergraduate student at Princeton University in the US, returned to Dhaka after a three-day stay in a village, and was overwhelmed by the experience.

Age is no bar either. Nancy Tuller, 49, from Sonoma in California, USA, took a break from her government job to understand micro-credit.

"I heard about Grameen Bank and Professor Yunus 15 years ago. I was impressed by the simple beauty of the idea. I have spent three months working with an NGO in a village called Masi in Almora district of Uttarakhand, India. It is my dream to initiate a similar micro-credit programme there," Tuller said.

In simple terms, micro-credit can be defined as the providing of small loans at low rates of interest to poor farmers, or other rural workers, to encourage self-employment.

The Grameen Bank's primary objective is to extend banking facilities to poor men and women, primarily the latter -- 97 per cent of its borrowers are women. Loans are given to people who cannot borrow from larger lending institutions due to financial difficulties. At times, they cannot take loans from larger institutions due to lack of access, and because they are considered high-risk borrowers.

Of the Grameen Bank's total equity, 94 per cent is owned by the borrowers and the remainder by the government. The Bank's 2,423 branches have changed the lives of 6.67 million people in Bangladesh directly, while also providing a model for other parts of the world, primarily Latin America and Africa. The Bank covers 72,096 villages/towns with a staff of close to 20,000 people. It has a staggering 98.85 per cent loan recovery rate. Since its inception, the Bank has distributed loans worth $5.72 billion, of which $5.07 has been repaid.
Following the introductory talks and the audio-visual presentations, the 'real' internship started when I visited the village of Bhowal-Mirzapur in Gazipur district.

Despite our differences, there was an incredible bonding. It was strange to find that I was a museum artefact for some of the villagers! They were curious about the cost of my spectacles and my watch!

I spoke a bit of their language but was still referred to as bideshi (foreigner). When they learnt that I had left home in Kolkata a year ago to do my A levels in London, they had as many questions for me as I had about micro-credit: 'What do people wear in London? What do they eat?'

Four days in the village and I found them taking my cell numbers in Kolkata and London with a promise to get in touch. This bond helped me settle in and I felt at home from the very first day.

Our first stop was the meeting of centre number 26, the B K Bary centre, one of the Bank's oldest centres, which celebrates its 20th anniversary this year. New loans are proposed, and old ones repaid at these meetings.

The 56 women who had gathered in a tin hut specially constructed for meetings were involved in a variety of businesses -- from furniture to grocery shops -- and agricultural work. Their stories were fascinating, to say the least. The centre leader was the first to tell us her experience. Her current loan amount was a micro-enterprise loan of Taka 100,000 (about Rs 59,708), and her first loan had been Taka 1,000 (about Rs 597). She was now running a poultry business, a brick contract business, and owned a truck. She had a repayment rate of 100 percent.

The next woman who shared her experiences was running a rental business. She owned three houses, of which two were for rental. She had achieved this with an initial loan of about Taka 125,000 (Rs 74,635). Twenty years ago, before Grameen Bank transformed her life, she would have difficulty providing her children three meals a day.

The last woman we spoke to was the centre's latest addition, having been a member for a week. She hoped to emulate the success of her friends who had inspired her to join. The children of the centre's members were being educated with the help of the loans provided by the Bank.

It was evident that Grameen Bank had provided the women with a sense of empowerment. All of them felt money was important and that it had changed not only their lives, but also their roles in the family. It had also given them a sense of identity.Next up was a visit to the Bhowal-Mirzapur branch office, where the loans were disbursed. On the walls were displayed Professor Yunus' sayings, which served as motivators to the villagers as well as the branch staff.

This was a 5 star branch, which meant it had attained all its objectives, which included making profit, being self-sufficient, educating the members' children, a 100 percent repayment rate and taking all its members' families above the poverty line. This branch looks after 84 centres, a total of 753 groups, about 4,200 members.

It had made a profit of nearly Taka 20 million (Rs 11,948,962) which it had sent to the head office in Dhaka.

The branch office had nine permanent members of staff, of which seven were centre managers. Of its members, there were 139 struggling members (who were beggars prior to joining Grameen Bank), 408 telephone ladies (selling Grameen Phone SIM cards and airtime), 895 people on micro-enterprise loans, 128 on housing loans, 35 on higher education loans, and the rest on some form of the basic loan. The single largest loan the branch had provided was a micro-enterprise loan of Taka 400,000 (Rs 238,979), which was sanctioned by Grameen Business Promotion, a sister organization of Grameen Bank.

We were introduced to sister organisations of the Bank, like the Grameen Motsho Foundation, which help the poor. The Foundation provides fisheries, livestock and employment to the villagers who are part of this venture.

Professor Yunus has also set up Grameen Danone, a joint venture with the French food giant. He felt this was a vital entity to provide nutrition to Bangladesh's young citizens. The yoghurt production factory at Bogra district (225 km northwest of Dhaka) is still in its fledgling stage. Only 35 people are employed, which includes three interns from France to help with the administration. But the factory already serves six Grameen branches. Its production capacity is 10 tonnes per day, and 6,000 litres of milk is processed daily.

This attempt was part of Professor Yunus's vision of creating a social business -- a no profit, no loss company. Healthcare too came under this exercise. Grameen Health Care Services Ltd has set up two hospitals near the factory to help make micro-credit sustainable. The costs are shared in the Grameen-Danone venture on an equal basis. No profit will be withdrawn, only the investment will be pulled out, and the rest is all re-invested. The yoghurt, which contains valuable micro-nutrients missing in the children's diet, is sold for Taka 5 (Rs 2.90) per cup.

The venture engages local lady members of the Bank to sell the produce from door to door. Large-scale retail is not possible, because the stores do not have refrigerators to keep the yoghurt. They plan on starting two more plants by 2009. The ladies receive 10 per cent of the sales. My biggest learning experience was the stay at the Bhuyagati-Raygonj branch office. There I spoke to 22-year-old Utpal Kumar Roy, who was on a higher education loan. For higher education loan, the repayment starts a year after the course results, which gives the member time to find work. Utpal's mother has been a Grameen member for six years; his father raises cattle on the family land. His motivation and awareness were impressive. He had just finished a three-year honours programme at the University of Rajshahi, and was applying for a master's loan.

Utpal was sent back that evening, without his master's loan proposal having been accepted. He had asked for Taka 19,000 (Rs 11,344) for the one-year course, but the branch staff told him the grant is up to Taka 30,000 (Rs 17,916) so he could ask for more!

Later, I accompanied the branch manager to the Laxmicolla Branch office. Here too, I was charmed by the staff's warmth and interest in finding out about me. I was also asked about President Pratibha Patil.

The following morning, I was taken to visit Sakhira Begum, who was on the struggling member programme (beggar scheme). The aim of this programme is to first make begging a part-time activity, and then remove it completely. When the Bank tried to get people to stop begging directly, it failed to work.

What it did was hand small items like toys, sweets and household necessities to beggars (primarily women) so that they could sell these goods while begging. Eighty five thousand people enrolled for this scheme, of which 5,000 have stopped begging completely.

The struggling programme is flexible, and members do not have to pay the interest. There is an interest of Taka 20 (Rs 11.90) per Taka 1,000 (Rs 597) borrowed, but there are no penalties for failing to pay that interest.

Sakhira, who has been a member for three years, became a member of the Bank when members of staff approached her to join while they were promoting the struggling members' programme. Her first loan was for Taka 500 (Rs 298.50) which she used to buy ducks and chicken (which greeted me when I arrived). Her second loan was Taka 1,000 (Rs 597) which she used to buy goats. Her current loan of Taka 2,000 was being used for growing crops. She has not had a problem paying back the loans so far.

She lives with her husband, and their daughter has a house next door. Her child is in school, funded by the family. The daughter is Sakhira's only surviving child; eight others perished as children. Sakhira used to beg for about 10 hours a day, but now her world has changed.

Later that day, the branch was hit with a minor crisis; 12 centres were affected by floods and so loan collection was not possible.

Next morning, with the floods worsening and the rain coming down heavily, centre number 5 was the only centre where collections were on. The branch office was also under siege, and people feared the water would enter the office before nightfall.

But they were all laughing and joking; you could not have realised there was a problem, unless you saw the knee-high water. On my last day at the branch, I visited the area office nearby. We rolled up our trousers and waded through the water. I saw the MIS accounting system at work, and it was both strange and impressive to see the latest software packages being used in a village in a developing country.

Despite the Bank having given birth to a new era, it has faced huge amounts of criticism. Some refer to Professor Yunus as nothing more than a money-hungry lender. The interest rate charged by the Grameen Bank is 20 per cent on a declining basis, which is fairly high compared to other countries of the world. But it is much lower than the 50 per cent that traditional money lenders charge.

And since it is calculated on a declining basis, it is equivalent to a flat rate of 10 per cent. Also, the Bank's logic in asking for 20 per cent interest is to make it a self-sufficient organization. The Bank does not accept donations anymore.

Betty Botter Bought some Butter But she said the Butters Bitter if she put it in her Batter it will make her Batter Bitter But a Bit of Better Butter will make her Batter Better so she Bought a Bit of Butter Better than her Bitter Butter and she put it in her Batter .

If Big bats could blow big bubbles, how big would big bats blow big bubbles?Big bats would blow big bubbles as big as big bats could blow big bubbles.


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In India couple sjust had each other.majority of people had jsut one patner for life.but this is changing .with chatoic lifestyle and stress relationships are breaking ,divorce sare becoming common in metroploitan cities and second marraiges are rising.there has been a n important change.earlier girls were competely shaken from a failed realtionship and took years to cope up.now they just move on.post marital flings are also becoming common with patbers to balme.often the lack of quality time and demanding careers makes it difficult for fragile relationships to survive.when people find it difficult to adjust they just move on with blinking an eye lid.this is an difficult phase.