VIKASH MITTERSAIN
Founder & President
601, Dalamal House, Nariman Point, Mumbai – 400021, India
Phone: +91–22–22810303 / 22813030    Fax: +91–22–22810606

Email: vikash@ibg.org.in     Website: www.ibg.org.in

IBG NEWS LETTER Issue No. 9/2013-2014


   
UPCOMING EVENT
THE POTBOILER is coming to Suburbs At Novotel Hotel, Juhu, Mumbai on Wednesday, 16th April, 2014 on requests by IBG Members to do THE POTBOILER in the Suburbs.
Further Information on the event will be sent shortly

EXCLUSIVELY FOR CXO/MD/CHAIRMEN AND COMPARATIVE POSITIONS

IBG launched its new Vertical The Board Room++ on 12th February, 2014 at Hotel Sofitel, BKC, Mumbai with a great & quality gathering of 100 CXO/MD/CHAIRMEN AND COMPARATIVE POSITIONS. The Board Room ++ is a Subset of IBG, The New Age Chamber which has over 3000 Members.

Mr. Vikash Mittersain – Founder & President of IBG and MD Nazara Technologies Pvt. Ltd. Shared his experience on his understanding towards this need to connect off line with compatriots time to time. Mr. Mittersain’s idea of the BOARD ROOM ++ (limited to 100 Members in the first year) is born from such new needs to MEET, MINGLE AND LEARN from top people of diverse Business Backgrounds. It’s a meeting place to informally exchange notes & ideas, hear business gossip (very important), get a chance to listen to great Indian and International Speakers.

Mr. Mittersain with his Core Committee at IBG left the platform open to the esteemed participants to interact and share ideas & feedback to take the BOARD ROOM ++ forward successfully and beneficial to all.



IBG PRESIDENT, MR. MITTERSAIN DISTRIBUTED CASH PRIZES TO THE 3 WINNERS OF HCG PINKATHON ORGANIZED BY MILIND SOMAN


FROM THE PRESIDENT’S DESK – Debt Trap or Death Trap
Everyone has a credit card these days. Most have multiple. It’s so easy to get one. They call you and offer ‘free’ cards. But most people think its ‘Free’ money.

We Indians love free stuff, who doesn’t. But the phenomenon of mass ownership of credit cards has just started to happen in our country. Even a decade back you needed to prove your repayment capacity to get a credit card. The last decade has seen indiscriminate scattershot actions by credit card issuers with the hope that some cards will land in someone’s, anyone’s pocket.

I even get credit cards in the post which I never asked for or ordered. When I phoned the card company the agent at the other end argued how it mattered since it was free. They would not cancel it. Later I just cut it into 2 pieces which landed in my dustbin.

It’s so easy to fall into the credit card death trap. You see money lying in your backpocket, money you never earned. It’s so easy in the beginning to take out that smoking gun and shoot in the direction of your desires and Hey Presto they fall off the tree and land in your palms. It was so easy see?

A couple of months roll by, you get the credit card statements asking for a minimum amount to pay, which is normally 5% of the total outstanding. But your card limit is exhausted because you never stopped buying into your desires, using this “magic wand”. The card now becomes useless, and you now just service your debt, at 5% of the limit. Soon the finance charges (interest) start adding. Do you know the interest cost? All told it is the region of 40% (yes, forty percent) of your outstanding. At this stage, you are unable to buy anything in your budget, as any available cash is swallowed up by the credit card.

And then, your horror begins. You slip meeting the monthly minimum due and ‘start’ getting calls from the recovery agent. Soon enough these calls turn to downright abuses and you are trapped. This is the classic Debt Trap. Matters often get much worse.

Moral: Keep away from the Credit Card Debt Trap. Some who have been through it also call it The Death Trap.

- VIKASH MITTERSAIN


GLOBAL CORPORATE AWARDS, NEW YORK 2014
The Global Corporate Awards is a unique initiative to recognize, applaud and salute those achievers and leaders who made their mark!
For further details click on http://ibg.org.in/pdf/Links/Global-Corporate-Awards.pdf
For any query, contact info@globalcorporateawards.com


IBG MEMBER – RAJEEV SURANA HAS SOMETHING TO SHARE ABOUT SCINNOVATION CONSULTANTS PVT. LTD.
IBG Member, Mr. Rajeev Surana cofounded Scinnovation, he is a registered Patent Agent, author of a popular handbook on Intellectual Property ‘Protect Your Ideas’, regular contributor to various publications such as Entrepreneur magazine on areas such as IP Strategy, IP Funding etc. and visiting faculty with University of Mumbai–Dept. of Law. To read more, click on http://ibg.org.in/pdf/Links/ScinnovationProfile.pdf.


   
We circulate one or more Women Entrepreneur’s / Professional’s (from IBG Members) story in our Monthly Newsletter and also set a platform for her / them to present at one of our events.

   
MAHRUKH INAYET
Mahrukh Inayet currently Editor–at–Large, Headlines Today, and former Sr. Editor, Times Now has been a broadcast journalist for the past ten years. After her Masters in Broadcast Journalism from American University, Washington D.C, Mahrukh worked as part of the core team at Headlines Today, that helped set up the channel. From HT, Mahrukh joined Times Now, again as part of the core team that set up the channel and quit in 2012 as Sr Editor (news).

Mahrukh’s 72-hrs non-stop reportage from outside the Taj Hotel during 26/11 earned her much acclaim and was appreciated as an example of unbiased coverage of the Mumbai terror strike. She was the last Indian journalist to interview Benazir Bhutto before the assassination of the former Pakistani Prime Minister.
Mahrukh has reported extensively on national politics with special focus on the Kashmir imbroglio. She has interviewed Narendra Modi, Omar Abdullah, Sachin Tendulkar, Amitabh Bachchan among other celebrities. She is a prime time anchor and a very well known television face. She has won several awards for her work including the J&K Govt’s award for Outstanding Achievement as a Media Personality 2009.

If you are interested, kindly send us your story / details in about 100 words with your company’s web link to deepika@ibg.org.in and get noticed on our Monthly Newsletter & the ‘THE POTBOILER’ Networking Event. You may bring in other women along to participate in our programmes and also the women entrepreneurs / professionals you know who would like to join IBG.


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To know more, write to deepika@ibg.org.in

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KEYS HOTELS offers Special Discounts to IBG MEMBERS
To know more, write to deepika@ibg.org.in



IBG WEDNESDAY QUIZ
IBG has launched a contest on Facebook called ‘Wednesday Quiz’ where questions related to Business World are asked. A winner is selected and he/she is entitled for a prize. The contest will run on every Wednesday from 11:00 AM till Thursday 11:00 AM for a day.

To participate & for more details, like IBG FB Page

TO BECOME AN IBG MEMBER, CLICK ON http://www.ibg.org.in/membership_form.html

‘This Newsletter is read by over 60000 business people from startups to large corporation CEOs’

Dated : 21st March, 2014            IBG Team

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