Cover Story

India's best banks
The 14th Business Today-KPMG survey of India’s Best Banks reveals, there’s one bank that continued to roll better than all others: HDFC Bank. Once again, for the fifth year in a row, the Aditya Puri-led bank beat 76 others to emerge as the #1 player in the industry.

Banking in a global marketplace
The Indian banking system will have to deal with mind-boggling paradigm shifts in a complex global environment in the years ahead.
Jumpstart
From #5 to #2 is a big jump in any rankings—more so for HSBC, which has powered ahead on the back of sheer growth in deposits and profits.
The leader seals its spot
HDFC Bank has emerged as #1 for the 5th year running. What is the secret formula that keeps it ahead, year after year?
Life after bad debt
It can be grim, as the recent credit turmoil in the West indicates. Back home, it’s not time to panic, but to take stock of sticky assets.
How we ranked the banks
As in the recent years, the BT-KPMG survey methodology has been modified to address some of the questions that came from the banking community.
Coming of age
State-owned banks now mean business and this is amply reflected in their dramatically improved rankings in this year’s survey of best Indian banks.

2008-02-24

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Editors note

From the editor

The economy continued to roll in 2007. So, it was natural that the banking sector, which is an agglomerator and early barometer of economic trends, did reasonably well.

BT More

The cover story this time deals with our aspirations that revolve around living a happy life with all the luxuries of this world at our fingertip. Life Deluxe tells you how you can literally live life king-size.

The knowledgeable machines

Exercise your way to good health with these new machines that tell you a lot about your fitness level.

Wheels of fortune

Want to know how the world’s richest travel to work? Drive this beauty to find out.

If I were a billionaire

Why make a lot of money if you can’t really live, look, travel and indulge like royalty? we tell you just that: how to have a life which is truly ‘deluxe’.

Lounge in luxury

Two great lounge bars that have re-invented themselves and are once again attracting the A-listers get our vote this time.

Wine is a happy drink

Alfred Tesseron is a member of Les Cinq, the five cháteau owners from Bordeaux who travel the world promoting their wines. He explains why people of different age groups prefer different vintages and tells you how to choose a red wine that suits your palate and your pocket.

Food for thought

Cookbooks seldom qualify as good ‘reading material’. The three books featured below are honourable exceptions. Fun to read—they also make you think hard about your culinary skills.

Pricey isn't always perfect

The French have seen Louis Vuitton knockoffs appearing everywhere. The last thing they would want is bad wine being sold under counterfeit French labels.

Turn it on

As it gets increasingly difficult to hunt down turntables, we take a look at some new and interesting ones that have put the boom back in the ‘boombox’.

Take the world in your stride

Cruise the high seas and fly across the world in style and discover what luxury is all about.

Easy driver!

As far as nice, comfortable saloon cars go, you really could not do much better than the Volkswagen Passat.

Improve your mobile photography

Most high-end mobile phones have good cameras. So, why do the photographs still come out blurry or less than perfect? Read on to find out how to take better snaps with your cellphone.

Be a trail-blazer

Blazers are for all occasions, and while the suit may be smart, the blazer is definitely nattier. We take a look at how a blazer can go well both in office and at the party and give you some cool tips on how to get the most out of yours.

Stun the sun

At home, in a party, or even during board meetings, show ’em the stuff you’re made of.

Who dares, wins

Wins If you have a streak of adventure in you, head down under to New Zealand and experience a new high in the adventure capital of the world—Queenstown.

Piano man

When pianist Oscar Peterson passed away last December, the world of jazz lost one of its most astonishing stylists. In this issue, we pay tribute to the great man by reviewing two classic performances from a career spanning six decades.

Every move you make

How you dress says a lot about you. we suggest you take our advice and make your wardrobe the best in business.

Almost heaven

Make sure your dream home and its classy interiors elicit a wondrous gasp from your friends whenever they step into your kingdom.

The show window

From tea sets and spirits to bath settings and pearl pendants, check out what’s new this fortnight.

Caviar daydreams

Take a chocolate massage at a royal spa, sip the best cognac and puff on a designer cigar— redefine life in the luxury lane.

Fauna lends a hand to Randhawa

Asked recently what it takes to win at the DGC, Randhawa finally let out his secret. As it turns out, there is no elaborate game plan. All you need to do is hit it straight and putt well. It’s that simple. Anybody can do that!

Current

(Another) Billion buck buyout

Tata Chemicals is now a global powerhouse in soda ash.

The colour of money

Now, a real estate fund that’s fastidious about its investors.

No empty bucket

Has ibibo captured the imagination of netizens?

Reverse revenue stream

Tech Mahindra is in a sweet spot as it doesn’t depend on the US.

iShare, you share

Rediff’s YouTube clone iShare woos viewers with micro sitcoms.

Kone elevators gets a lift

The Finnish major claims leadership in India.

Tata tea's new 'Adda'

It has launched a tea chain for the youngsters.

Low cost, high share

LCCs have grabbed 40 per cent of the market.

Getting back to speed

HMIL opens a second plant near Chennai.

Telecom's new wannabes

Unitech and Videocon are among them, but what about spectrum?

Speak easy

Airtel’s Rupee One plan sets the cash registers ringing.

Armchair shopping

A HyperCITY-Argos JV attempts to revive catalogue shopping.

Retail rush

Micky Jagtiani wants to become a global player.

The fallout back home

India might be a growth haven for badly-bruised global banks.

Crossroads

Will multiple roadblocks slow the growth of booming BPO market?

Trends

Fly away

By the end of March, the southern information technology hubs of Bangalore and Hyderabad will both have brand-new airports, whose figures almost mirror each other. Will these giant greenfield airports solve the aviation infrastructure problems in these two cities?

Deal watch

Every month, we bring you a listing of the biggest deals struck by Indian companies in India and abroad. Our partner: global professional services firm Ernst & Young. Here are the deals that were struck in January 2008.

Indian automotive industry: In the fast Lane

Rising disposal incomes and increasing consumerism are fuelling the optimistic expectations of India’s auto industry executives, says a recent KPMG survey.

The BT 50 Index

Just wondering ...

What happened to virgin comics’ plan to launch comics based on Indian mythology? Well, Virgin has launched the new comics in the US and, according to reports, they are already ranked among the Top 100 bestselling comics in that country.

Noted

By Forbes, four Indian CEOs among the 10 wealthiest chief executives in the world. Steel tycoon Lakshmi Niwas Mittal is the second-wealthiest, followed by Mukesh Ambani (at #6), Anil Ambani (at #7) and Azim Premji (at #9). Berkshire Hathaway CEO Warren Buffett tops the list.

To be precise

If the world economy were a train, we’d now have a greater number of engines pulling that train.

Numbers of note

The number of patents granted between April and December 2007 by the four patent offices in India

Newsmaker - Rajat Gupta

The Hyderabad-based Indian School of Business (ISB), which he co-founded in 2001, has been ranked #20 in the FT-Global B-School rankings.

Tale bearer

The Insurance Regulatory and Development Authority (IRDA) is considering giving insurance companies more leeway in their discretionary investments.

Economy watch

Successive cuts in the US short-term rate have created a huge arbitrage opportunity for foreign investors to park their money in India’s safe haven debt market where they also have the scope to make profits if the rupee appreciates further against the US dollar.

India can be a world leader in innovation: James Canton

James Canton, CEO AND MD of San Francisco-based think tank, Institute for Global Futures, and author of the celebrated book, The Extreme Future, believes technological advances and innovation will be the big drivers of the global economy in the 21st century.

VCs are bullish too

Venture capital firms invested $543 million across 98 deals in India during 2007, 9 per cent higher than in 2006, which saw 94 deals worth $500 million, says a study by US-IVCA Venture Intelligence.

PE players remain bullish

A volatile sensex has sent investors running for cover. In the process, there have been murmurs that several private equity (PE) transactions that were in the pipeline have fallen through.

Core sector drives M&A in India

The combined spending on the core and infrastructure sector by both the public and private sectors accounted for about 5 per cent of gross domestic product (GDP) in India in 2007.

Other income lifts India Inc.'s profits

A 59 per cent rise in other income helped India Inc. to deliver a 32 per cent growth in net profit for the quarter ended December 2007, to Rs 70,232.2 crore (we used data for a total of 2,006 companies).

US crisis will not affect India: Larry Fink

Larry Fink, Chairman and CEO, BlackRock, which is among the top 10 asset management companies in the world, was in India recently.

Realty dreams

Property prices are beginning to correct in some cities.

Instant tip

This fortnight's burning question: Has RBI done enough in this credit policy to stave off a slowdown?

Jobs

Help Tarun!

I am working with the editorial department of a 24-hour news channel. I have the option of doing an MBA in Media Management from London. Is a general programme in management better than a specialised one?

For high fliers only

Airport integrators in demand.

Accounting for talent

Firms are tweaking their HR policies to offer never-before incentives, carrots, compensations and growth opportunities to the limited talent pool available. Hiring is a challenge and retaining people an onerous task at the Big Four of accountancy. Saumya Bhattacharya tells us how you can make the most of it.

Money

MF scoreboard

The top performers category-wise.

The world in your portfolio

International funds can deliver or lag those in domestic markets—it depends on how well you diversify.

The devil in derivatives

Do you make use of futures and options in your strategy? Watch out; the turnaround is unpredictable.

The new laws of investing

The stock markets are being influenced by a host of domestic and global factors. A lowdown on what you should know about the changing dynamics of the market to swim with the sharks.

60 minutes

Standard Chartered listing in India is a possibility: Peter Sands

India is an important destination for Peter Sands, the Group Chief Executive of London-based Standard Chartered Bank. During his recent trip to the country, Sands spoke to BT’s R. Sridharan and Shalini S. Dagar on global financial markets turmoil and the fallout on emerging markets.60 MINUTES IN ARCHIVES India is our 13th largest market: Holliday JrPepsiCo is good in every sense: NooyiOur focus is the key to success: Bart BechtFidelity will be in investing mode: Barry Bateman

Editorial

Banks on the mend

Here is something interesting about this year’s BT-KPMG study of Best Banks in the country: four out of the top 10 banks are state owned.

Recoupling redux

It is kind of funny how during every boom period, theories propounding “things are different this time” gain currency only to be unceremoniously dumped soon after.

Club the awards

English proverbs hide more than a grain of truth in them. And, more importantly, they never seem to lose their relevance—even if they go out of fashion every once in a while.

Letters

Back and welcome

Investors have realised that if businesses have to sustain and grow, an Indian agenda is imperative.

Event

The core of all profits

Author Chris Zook on what it takes to achieve profitable growth and what lies beneath ‘the core’ of all companies.

In This Issue

Micro-credit messiahs

In an industry that is barely 12 years old in India, a new breed of microfinance entrepreneurs has emerged on the scene, armed with management techniques and technology, and a burning desire to get big quickly. 7 Indian Microfinance Institutions in Forbes' 50 listGod of small credit - Vikram Akula

The tightrope walker

Yaga Venugopal Reddy has always kept his calm in uneasy situations.

Let the game begin

The Indian Premier League has mobilised Rs 7,000 crore for BCCI even before the first team has been announced. Why are hard-nosed businessmen betting billions on a still unproven concept? Tejeesh N.S. Behl & Anusha Subramanian find out.

Haryana on a high

State Chief Minister Bhupinder Singh Hooda wants to turn the $30-billion local economy into a $130-billion behemoth in 10 years. Investors are eager, but Haryana has several challenges to overcome. Shalini S. Dagar and Saumya Bhattacharya tell us why the state is by far the best destination in India.

Renewed thrust on pension scheme

The government wants to make its New Pension Scheme (NPS) more inclusive.

Land of good deals

Locals are willingly giving up land to embrace industrialisation in Jharsuguda, discovers BT’s Ritwik Mukherjee, who is mistaken for a landbuyer himself.

Features

Indian IT beyond the US

Be it Infosys, Wipro, Satyam or HCL Technologies, the push for growth in geographies other than the US is gathering steam. The Indian IT industry has been reducing its dependence on the US and is likely to continue doing so. Indian IT firms hiring abroad'TCS not hit by US subprime crisis'

Back of the Book

Innovators Inc.

Paul Basil and his Rural Innovations Network are helping grassroot innovators bring their ideas to fruition—and the market.

Book

Between the beans

A journo takes a look inside the world’s best-known but controversial coffee marketer.

People

Designer dreams

Dilip Chhabria is not letting age slow him down. At 54, after showcasing a concept super-car called the Ambierod at the recently concluded Auto Expo in New Delhi, Chhabria now wants to set up an Auto Design Institute in Pune.

Printed Circuit

A phone that takes you places

This new mobile phone guides you to your destination.

Another low-cost wonder?

HCL has launched a low-cost laptop, but it isn’t revolutionary.

Top Mind

New excise norm for laptops

From January 25, 2008, laptops, monitors, modems, set-top boxes, printers, fax machines, ink cartridges, keyboards, and mice have started attracting excise duty on their MRPs (as printed on the boxes) as opposed to earlier practice of the duty being levied on the cost of manufacturing.

Now, upload pictures from mobiles

JuiceCaster is a mobile application that allows users to publish multimedia content from their phones.

Policy Watch

SEZ cap may be relaxed

The government might soon review the 5,000 hectre cap on multi-product SEZs.

Fertiliser subsidies mount

The Ministry Of Chemicals And Fertilisers is gearing up for a substantial increase in the fertiliser subsidy bill in 2008-09.

Noted

FM to collect Rs 6 lakh crore

In an unexpected windfall for P. Chidambaram, there has been a surge in gross tax revenue collections, which are likely to cross the Rs 6,00,000-crore-mark in 2007-08.

Treadmill

How to take care of your eyes

If you’re one of those avid computer users who squints at the screen all day, and even if your’re not, read on. Eye strain is something that affects all of us.

Smart running tips

Regular readers of treadmill know that the author of this column isn’t a huge running enthusiast.