The Nine days mega festival of dance, colors, joy was given a good buy yesterday. Though I didn’t go for garba neither I’m avid for night life but believe me not only me but most of the people are not very happy with the festival coming to an end. Everybody enjoyed masti, dining out and a colorful night life and wished that if this festival could continue for ever and ever.
I remember the last day of Navratri 27th Sep-09 when me along with my family were infront of the TV and chatting together, suddenly I wished to have ice –cream and I though of taking a chance with the nearby Ice Cream parlor. To my surprise it was 1.30 AM the parlor was open and lot of people were enjoying/ refreshing them after a long drill of dance.
I’ve been witnessing the enthu and spirit of people from last 9 years and seen it growing enormously.
Vibrant Gujarat
World largest gathering and longest duration dance festival. You can see People from all the age groups dressed in vibrant color dresses (Orange, pink, green, maroon and black ) and dancing to the Garba (Garba is an Indian form of dance that originated in the Gujarat region)tunes.
Even the guys who don’t know the steps of the Garba are dressed up in the traditional attire and adding to the vibrancy of the festival.
Both men and women usually wear colorful costumes while performing garba and dandiya. The girls and the women wear ghaghra choli, a three-piece dress with choli on the top and ghaghra as bottom, made of cotton with beads, shells, mirrors, sitars, and embroidery work, mati, jhumkas, necklaces, bindi, bajubandh, chudas and kangans, kamarbandh, payal, and mojiris and dupatta tucked in the Gujarati manner.
Boys and men wear kafni pyjamas with a kediyu - a short round kurta - above the knees and pagadi on the head with bandhini dupatta, kada, and mojiris.
Even the guys who don’t know the steps of the Garba are dressed up in the traditional attire and adding to the vibrancy of the festival.
Both men and women usually wear colorful costumes while performing garba and dandiya. The girls and the women wear ghaghra choli, a three-piece dress with choli on the top and ghaghra as bottom, made of cotton with beads, shells, mirrors, sitars, and embroidery work, mati, jhumkas, necklaces, bindi, bajubandh, chudas and kangans, kamarbandh, payal, and mojiris and dupatta tucked in the Gujarati manner.
Boys and men wear kafni pyjamas with a kediyu - a short round kurta - above the knees and pagadi on the head with bandhini dupatta, kada, and mojiris.
To view the video footage click here.
Image Source: http://www.flickr.com/photos/38798411@N00/368861543/
Management or Recovery
The term management is generally used when we talk something about to happen in future and the planning related to it. Take example of Project management, program management or event management. There are some specific individual or group of individuals who take the lead in this sort of management and are called managers.
Simultaneously you might have also heard of “Disaster Management Plan” or “disaster management”. But mind you according to the definition of management or what we call as management is related to future activities that are yet to happen and whom we want to execute in a prudent way. Is the word “disaster management” is an appropriate word because, I believe nobody wants to manage the disaster, so the word “disaster management” has to be rewritten as “disaster recovery” Because whenever there is a disaster we want to recover from it, we do not want to manage it.
Simultaneously you might have also heard of “Disaster Management Plan” or “disaster management”. But mind you according to the definition of management or what we call as management is related to future activities that are yet to happen and whom we want to execute in a prudent way. Is the word “disaster management” is an appropriate word because, I believe nobody wants to manage the disaster, so the word “disaster management” has to be rewritten as “disaster recovery” Because whenever there is a disaster we want to recover from it, we do not want to manage it.
Image source: http://www.itonecall.co.uk/protection.htm
Interest rate Futures
You might have heard the terms speculation, hedging, spot, future etc let me elaborate those terms in my language as per my understanding.
Speculation is about profit making while hedging is protecting one’s profit by minimizing losses and hence is a defensive strategy.
Future market (Price) differs from spot market (Price) because in future market the contracts are traded for future delivery of the particular commodity. The difference between the spot price and the current contract price is called the "basis." The basis equals the cash price minus the futures price.
The future price of any commodity depends on the underlying asset, if the price of underlying asset increases the future price is bound to price.
When one wants to hedge he has two options either “Going Short” or “Going Long”
“Going Short” is opted when it is believed that the prices of the underlying assets are going to come down, so the hedger sells the contract without owing it, later when the price of contract goes down (as per his speculation) he purchases the contract and squares off his/ her position.
“Going Long” is opted when it is believed that the prices of the underlying assets are going to go Up, so the hedger buys the contract, anticipating that the contract prices will go up. When price goes up the Hedger sell the contract, book his profit and square off his/ her position.
Let’s see how it work Say suppose I have to pay 100 thousand USD to my supplier 6 months down the line but I’m not very sure that what will be the dollar price at that point of time. If the dollar / rupee is 47 then my outflow will be 4700 thousand rupees but if it is 50 then my outflow will be 5000 thousand rupees means an additional outflow of 300 thousand Indian rupee, now I want to avoid this loss.
For this I will buy dollar future contract today (say quoting at 48 Rupees) and sell the contract 6 months down the line ( say price of the contract quoting somewhere around 50) through this deal I’ll earn a profit of 200 thousand Indian rupees which will help me in minimizing the losses made if I would have not done it.
Now futures for interest rate are also available I believe it is the right time looking at a greater uncertainty in the global economy and the higher movement in interest rate levels in India also.
The contracts will be settled in March, June, September and December. The maximum maturity will be 12 months. Deliverable securities under the futures should mature between 7.5 and 15 years with minimum outstanding of Rs10,000 crore.
Speculation is about profit making while hedging is protecting one’s profit by minimizing losses and hence is a defensive strategy.
Future market (Price) differs from spot market (Price) because in future market the contracts are traded for future delivery of the particular commodity. The difference between the spot price and the current contract price is called the "basis." The basis equals the cash price minus the futures price.
The future price of any commodity depends on the underlying asset, if the price of underlying asset increases the future price is bound to price.
When one wants to hedge he has two options either “Going Short” or “Going Long”
“Going Short” is opted when it is believed that the prices of the underlying assets are going to come down, so the hedger sells the contract without owing it, later when the price of contract goes down (as per his speculation) he purchases the contract and squares off his/ her position.
“Going Long” is opted when it is believed that the prices of the underlying assets are going to go Up, so the hedger buys the contract, anticipating that the contract prices will go up. When price goes up the Hedger sell the contract, book his profit and square off his/ her position.
Let’s see how it work Say suppose I have to pay 100 thousand USD to my supplier 6 months down the line but I’m not very sure that what will be the dollar price at that point of time. If the dollar / rupee is 47 then my outflow will be 4700 thousand rupees but if it is 50 then my outflow will be 5000 thousand rupees means an additional outflow of 300 thousand Indian rupee, now I want to avoid this loss.
For this I will buy dollar future contract today (say quoting at 48 Rupees) and sell the contract 6 months down the line ( say price of the contract quoting somewhere around 50) through this deal I’ll earn a profit of 200 thousand Indian rupees which will help me in minimizing the losses made if I would have not done it.
Now futures for interest rate are also available I believe it is the right time looking at a greater uncertainty in the global economy and the higher movement in interest rate levels in India also.
The contracts will be settled in March, June, September and December. The maximum maturity will be 12 months. Deliverable securities under the futures should mature between 7.5 and 15 years with minimum outstanding of Rs10,000 crore.
Commercial banks can take trading positions for themselves but not on behalf of their clients. Non-resident Indians, companies, primary dealers and foreigners can also trade in this segment. Foreign investors can trade if they have the underlying security, but not for speculative purposes.
Image source: commoditiesandfuturesguide.com
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