Biztro

Illustration by Saahil

1. Hiring spooks to reduce SBI’s bad loans

Getting back money from willful defaulters seems to have become a mission for Arundhati Bhattacharya, chairperson of State Bank of India (SBI), who has been named as the “most-powerful woman in business” by Fortune. In a country where benami deals and property scams are a dime a dozen, Bhattacharya has ingeniously engaged local private detectives to ferret out information to recover money through sale of property not pledged with the bank. Going by the experience of recovering money from Vijay Mallya, it is a lesson well learnt. The fact that SBI has this fiscal recovered Rs 7,738 crore from bad loans shows the the lady means business.

2. Harsh Vardhan’s exit and e-cigarettes

The now-former health minister Harsh Vardhan cracked the whip on India’s e-cigarette users (and companies too) from afar. He told the anti-tobacco lobbies in Spain that e-cigs won’t help kick the habit. Once home, he didn’t sign off on the dotted line with this so-called “ban”. Instead, he talked about banning cigarettes sold by the stick, stopping tobacco pouch sales, and hefty fines for public smoking. Funny thing is, the committee examining health aspects of e-cigs had proposed further research before approving sales--or a ban. That committee has met only twice, not since October, has no next date of meeting, and no notice of the so-called ban. Nor has research into impact of e-cigs in India begun.

3. Didi’s business links in the spotlight

Who is Srikant Mohta, a close companion of Bengal CM Mamata Banerjee? A tycoon of sorts, he heads Shri Ventakesh Films, a production powerhouse. Mohata was first seen with Didi last year when she inaugurated a high-end mall of his company in Calcutta. This year, he accompanied Didi on her Singapore trip. Then, there was a buzz over him accompanying the CM to Belur Math, an ashram. While the CM maybe latching on to him, hoping for some investment in industry-starved Bengal, according to reports, a tax investigation into Mohta was stopped at the last minute. What’s going on?

Math

16.4 m Mumbai has the highest number of internet users in the country, followed by 12.15 million in Delhi; 6.27 million in Calcutta and 5.99 million users in Bangalore.

$11,000 Amount received by the owner of a mysterious prototype of the iPhone 6 on online auction site eBay.

Make in India vs Make in China in 2013

$263 Amount paid by Tokyo executives to a premium-packed lunch service that has models and actresses who deliver and “explain the menu to clients”.

Mojo

The ‘Most Beautiful Car Ever Made’! In India soon?

Flush with the robust performance of Jaguar Land Rover (JLR), Cyrus Mistry has sought permission to import an E-type Jaguar of 1971 vintage. The 4.2-litre powered two-seater is an iconic image of the 1960s. Hopefully, it will be able to tackle Mumbai’s potholes.

Mind

This week we learnt about…Ivory Prices in Tanzania

Chinese premier Xi Jinping’s first foreign tour as head of state has had an amazing effect on the local economy. Prices of ivory doubled in Tanzania, thanks to indiscriminate buying by the Chinese officials and businessmen who were part of the delegation. Tanzania is the largest source of poached ivory in the world, according to a report by the Environmental Investigation Agency (EIA). Needless to say, demand for ivory is booming in China. The report quotes an official saying that ivory prices in the local market doubled to $700 (£438) per kilo during the visit. “Many kilos go out… many kilos. Half of his plane go with that,” one of the traders told the EIA.