Monday 2 July 2007

Taken a home loan? Bad news for you!

Housing loan customers may have to repay part of their borrowings or suffer very high EMIs, as there is a scurry among banks to avoid bad debts following successive interest rate hikes in the last six months.

Private sector lenders like ICICI Bank [Get Quote] and HDFC [Get Quote], who were very aggressive in the home loan market in the low interest rate regime two years ago, are banking on tools such as part repayment of loan or increased EMIs so that borrowers meet their liabilities before they retire, an analyst said.

"So far, we are not affected by this syndrome. In case of public sector banks the rise in home loan rate is not as steep as in the private sector," Punjab National Bank [Get Quote] chief general manager U S Bhargava said.

The bank has managed to absorb the effect by increasing the tenure, which in most of the cases are limited to the active service age.

However, those in their late 30s or 40s will face pressure to repay part of the loan in advance.

Private sector banks, wherein the rise is as high as up to 4 per cent in the last two years, are finding it difficult to manage it and in some cases have resorted to asking debtors for prepayment of some part of the loan or agreed to increased EMIs, a senior official with a private bank said.

State Bank of India [Get Quote] has already decided it will hike equated monthly instalments, and is even bracing for an increase in bad debts.

Generally borrowers take loan for 15-20 years. A further increase in the tenure will mean that borrowers in their late thirties would have to pay monthly instalments for a few years beyond the retirement age.

The move to increase EMI or repay a part of the loan will help borrowers to repay the entire amount before the retirement age, the private sector banker said.

Home loan rates started moving northward sharply since October last year as RBI raised short-term lending rates and cash reserve ratio a number of times to check demand and ease inflation.

Country's largest private lender ICICI Bank has raised floating home loan rates by 2.5 per cent and HDFC by 1.75 per cent. As a result, the tenure of the loan has increased substantially.

According to State Bank of India managing director Yogesh Agarwal, EMIs on its home loans could be increased shortly as interest rates have gone up by 2 per cent in the last one year.

"So far, we have resisted doing so but we will do so now," he said.

Agarwal, however, feared this may marginally push up banks non-performing assets on home loans as it may impinge upon the capacity of the borrowers to repay.

Currently, NPA in home loan segment is around 2.5 per cent and further rate hike could worsen the NPA levels.

Given the current inflation level of 4.03 per cent, increase in the interest rate is a very unlikely measure expected from RBI, which will announce the first quarterly review of monetary policy on July 31.

Top 25 mutual funds across all categories*

Top 25 mutual funds across all categories*

Company

Scheme

Annual returns*

DSP Merrill Lynch Mutual Fund

91.51

DSP Merrill Lynch Mutual Fund

91.51

Reliance Mutual Fund

81.22

Reliance Mutual Fund

81.22

UTI Mutual Fund

80.63

Standard Chartered Mutual Fund

79.40

Standard Chartered Mutual Fund

79.40

ICICI Prudential Mutual Fund

76.44

ICICI Prudential Mutual Fund

76.44

ICICI Prudential Mutual Fund

75.63

JM Financial Mutual Fund

73.14

ICICI Prudential Mutual Fund

64.30

Birla Sun Life Mutual Fund

64.22

Principal Mutual Fund

64.07

DBS Chola Mutual Fund

63.92

* We do not rate mutual funds that are less than an year old.

Dortmund: Anand finishes tied second

Viswanathan Anand [Images] played a quiet draw with young Magnus Carlsen in the seventh and final round and had to stay content with a shared second place at the Sparkassen Super Grandmasters Chess tournament in Dortmund.

Anand needed to win against Carlsen and also needed Evegeny Alekseev to beat leader Vladimir Kramnik, to get into a tie for first. Neither happened as all four games ended in draws.

Anand with four points finished tied for second with Peter Leko and Alekseev, while Kramnik head the table with five points. This year the event was played a single round robin.

The Carlsen-Anand was also a very quiet draw. White reached an ending with two bishops, but the symmetrical pawn distribution meant his winning chances were minimal, and Anand held comfortably.

Kramnik, who was a doubtful starter on account of flu won the Dortmund title for the eighth time in his career.

Though all games ended in draws, they were interesting enough. As Kramnik drew his Petroff defence game with Alekseev, Peter Leko played a marathon 107-move marathon draw with Shakriyar Mamedyarov.

Kramnik once again placed his faith in the Russian, or Petroff Defence, and held the draw with little difficulty.

Results of Round 7: Alekseev drew with Kramnik; Leko drew with Mamedyarov; Carlsen drew with Anand; Naiditsch drew with Gelfand

Final Round 7 Standings: 1. Kramnik 5.0; 2. Anand, Alekseev and Leko 4.0; 5. Mamedyarov 3.5; 6. Carlsen 3.0; 7. Gelfand 2.5; 8. Naiditsch 2.0

Anand vs Carlsen - (The moves)

1. d4 d5 2. c4 c6 3. Nf3 Nf6 4. e3 Bf5 5. Nc3 e6 6. Nh4 Bg6 7. Nxg6 hxg6 8. Bd2 Nbd7 9. a3 Be7 10. Qc2 O-O 11. Be2 dxc4 12. Bxc4 c5 13. dxc5 Nxc5 14. O-O Rc8 15. Rfd1 Qc7 16. Rac1 Rfd8 17. Be2 Nce4 18. Be1 Nxc3 19. Qxc3 Rxd1 20. Bxd1 Qxc3 21. Rxc3 Rxc3 22. Bxc3 Ne4 23. Be1 g5 24. Kf1 b6 25. Ke2 Bf6 26. Bc2 Nd6 27. b3 Kf8 28. Bd3 Ke7 29. g4 Bb2 30. a4 f6 31. b4 e5 32. f3 Bc1 33. Bc3 Kd8 34. b5 Ba3 35. Bd2 Ke7 36. f4 gxf4 37. exf4 exf4 38. Bxf4 g5 39. Bxd6+ draw

Stakes high as India-Pakistan clash

Traditional rivals India and Pakistan, who have experienced similar failures and revivals in the recent past, face-off again in an off-shore cricket One-Day International in Glasgow on Tuesday.

The teams are meeting for the first time since the World Cup two months ago, during which both have undergone an upheaval others usually experience in a decade.

The one-off match is to raise funds for Prince Charles charity, but it is certain that it won't lack the intensity associated with any Indo-Pak clash.

Having suffered ignominious first round exits at the quadrennial event, both India and Pakistan are experiencing a revival of sorts.

Pakistan, led by 25-year-old Shoaib Malik [Images], who succeeded Inzamam-ul Haq, crushed Sri Lanka [Images] 2-0 in Abu Dhabi in May.

India had a successful tour of Bangladesh, winning both the ODIs and Tests comfortably, and now have the momentum going into the match after a 2-1 series win over South Africa in Ireland.

Both the squads are hunting for a coach, following the tragic death of Bob Woolmer [Images], who guided Pakistan during the World Cup, and Greg Chappell's [Images] decision not to renew his contract with India.

But if recent results are any indication, the players have coped with the situation well.

Pakistan will have their bowling attack strengthened with the return of mercurial speedster Shoaib Akhtar [Images], who has not played a match after a positive dope test before the Champions Trophy in India last October-November.

Also returning to the squad are top order batsman Younis Khan and all-rounder Abdur Razzaq.

Yet, the advantage might be with the Indians, who have the match form and winning momentum from the Ireland series.

Their batsmen have been among runs, and gladdening fans' hearts is the form of Sachin Tendulkar [Images], who hit two 90-plus knocks against the South Africans.

The Indians are also better acclimatised to the conditions, having arrived in the UK more than a week ago.

The teams, as well as fans, are sure to be less deterred by the security concerns in the aftermath of the terror attack on the airport in Glasgow on Saturday.

A more potent threat to the match could be the weather which forced Pakistan's one-off clash against hosts Scotland at Edinburgh on Sunday to be abandoned.

The forecast for Tuesday is partly cloudy skies with scattered rain.

But, rain or shine, the fans of these two talented teams would be hoping that their stars make up for the much-expected World Cup clash in the Caribbean that failed to materialise.

The squads (from):

India: Rahul Dravid [Images] (captain), Mahendra Singh Dhoni [Images] (vice-captain), Sourav Ganguly [Images], Sachin Tendulkar, Gautam Gambhir [Images], Yuvraj Singh [Images], Dinesh Kaarthick, Ajit Agarkar [Images], Piyush Chawla, Ramesh Powar, Zaheer Khan [Images], Ishant Sharma, Robin Uthappa, Rohit Sharma, Rudra Pratap Singh and S Sreesanth [Images].

Pakistan: Shoaib Malik (captain), Salman Butt [Images] (vice-captain), Imran Nazir [Images], Yasir Hameed [Images], Mohammad Yousuf [Images], Younis Khan, Shahid Afridi [Images], Abdul Razzaq [Images], Fawad Alam, Iftikhar Anjum, Kamran Akmal, Mohammad Asif [Images], Mohammad Sami [Images], Shoaib Akhtar and Umar Gul.


Yuvraj, Zaheer back in Top 20

Yuvraj Singh [Images] and Zaheer Khan [Images] are back in the top 20 of LG ICC [Images] ODI Player Rankings after impressive outings in Ireland.

Yuvraj scored an unbeaten 49 to level the three-match series against South Africa and then stroked a masterful 59 not out on Sunday to steer India to a six-wicket victory that gave his team a 2-1 series win.

These stellar performances moved him up two places to 19th position in the Player Rankings for ODI batsmen.

Zaheer Khan missed the side's opening game, against Ireland, but came back for the series against South Africa in which he took three wickets in as many games. It helped the 28 year-old rise two places to 20th in the Player Rankings for ODI bowlers.

Khan's new ball partner Ajit Agarkar [Images] also climbed the list, up three places to 12th position, after the Ireland leg of the tour.

India legend Sachin Tendulkar [Images] benefited from an excellent series against South Africa following a disappointing start to the tour when he scored just four against Ireland.

The 34-year-old, who became the first player in the history of the game to complete 15,000 ODI runs, moved up two places to 21st in the batting list.

Tendulkar had briefly climbed to 17th after superlative knocks of 99 and 93 in the first two games but slipped four places after Sunday's final match in which he scored eight.

India vice-captain Mahendra Singh Dhoni [Images] dropped two places through no fault of his and is now ranked sixth in the rankings for ODI batsmen.

The 25-year-old from Bihar missed the first three games of the Ireland tour because of illness before returning for the last game against South Africa in which scored 14 not out and featured in an unbroken 44-run fifth wicket stand with Yuvraj Singh. A player loses one per cent of his rating for every match he misses.

India has the chance to make progress up the LG ICC ODI Championship table in the coming weeks as it will be playing another eight ODIs before the ICC World Twenty20 in South Africa.

Rahul Dravid's [Images] side faces traditional rivals Pakistan in Glasgow on Tuesday and then plays a seven-match series against England [Images] in August and September.

England's Kevin Pietersen [Images] still occupies the top batting spot in the ODI list with Australia captain Ricky Ponting [Images] in second place.

Ponting's team-mate Nathan Bracken [Images] is Shaun Pollock's [Images] closest rival for top position in the bowling list.

There was no good news for the South Africans in the latest edition of Player Rankings.

Proteas' captain Jacques Kallis's [Images] slide down the batting list continues as he is now 12th after losing one place following the series against India. He has also dropped four places in the bowling rankings and is now placed 38th.

Graeme Smith [Images] has dropped three places to 10th after missing the Ireland tour as he recovers from knee surgery.

Makhaya Ntini [Images] is the only South African to show improvement in the LG ICC ODI Player Rankings as he has gained one place to sit in sixth place in the bowling rankings.

Ntini's team-mate Andre Nel [Images] has maintained his spot at 10th in those rankings but Andrew Hall [Images] has slipped three places to 15th position.

Complete rankings

Austrian teenager upsets Dementieva

Russian 12th seed Elena Dementieva let a comfortable lead slip on Monday and beaten 3-6, 6-2, 6-3 by 16-year-old Tamira Paszek in a rain-interrupted third round match at Wimbledon.

They had started the match on Saturday when just over an hour's play was possible before rain halted play with only two matches completed that day.

After two nights to sleep on her lead, Dementieva did not seem to wake up and allowed the young Austrian to take control from the start.

Fellow-Russian and fifth seed Svetlana Kuznetsova had no such problems, needing just two games on Monday to seal a 6-2, 6-3 victory over Poland's Agnieszka Radwanska.

Sixth seed Ana Ivanovic, runner-up at the French Open last month, also quickly wrapped up a 6-3, 6-2 win over Aravane Rezai of France [Images] to book her place in the fourth round.

Three-times former champion Venus Williams, seeded 23, dropped a set on resumption and had to battle back to beat Akiko Morigami of Japan [Images] 6-2, 3-6, 7-5 to set up a mouthwatering fourth round tie with second seed Maria Sharapova [Images].

Eleventh seed Nadia Petrova of Russia [Images] was also pushed hard in the second set of her resumed match against Spaniard Virginia Ruano Pascual but eventually won 6-3, 7-6.

Nicole Vaidisova, the Czech 14th seed, rattled off three games after restarting her match against Belarussian Victoria Azarenka to win 6-4, 6-2.


India's growth is slowing down!

Do not rejoice yet at the prospect of the country posting over nine per cent growth in the current fiscal, as some economic think-tanks have revised their growth projections downwards to 8 per cent-8.5 per cent region on grounds of high interest rate and global slow down.

Rating agency Crisil cites the hard interest rate as the main reason for its lower estimate of 8.4 per cent.

"The increasing interest rates would be the main reason behind the slow down in growth rate. International factors, including slump in the US and China, would also affect the domestic growth," Crisil chief economist Subir Gokarn said.

Another economic think-tank National Council of Applied Economic Research has further lowered the projected growth rate at 8.3 per cent. It anticipates a slump in all three major sectors - agriculture, services and industries. The growth in agriculture would be affected because of the expected less than normal rainfall.

NCAER projects 9.9 per cent growth in the services sector as against 11.2 per cent in the last fiscal. Exports growth in May has slowed down to 18.07 per cent from 23.06 last month.

Industry body CII says the growth rate would be only 8.5 per cent owing to a decline in demand in the global and Indian economy, rising inflation and increasing interest rates.

Rupee appreciation and a demand-supply gap in the domestic and global economy can also lead to a decline in the growth rate, the chamber said.

The central bank's raising the cash reserved ration for banks three times in last December, as a part of its measures to contain rising inflation rate, would also impact the growth rate, the chamber added.

The apex bank itself projected a growth rate of 8.5 per cent in it s monetary policy announced on April 24.

The World Bank's had also projected a lower rate. The World Bank while projecting a rate of 8.4 per cent has blamed the government's restraining policy for the fall in growth.

According to some other analysts, the high base effect would also contribute to deceleration in growth.

On the other hand, noted economist and Professor at Jawaharlal Nehru University Arun Kumar said the government and other agencies are actually exaggerating the growth figures to keep the sentiments of the industry flying.

He said that Reserve Bank always presents a conservative figure so that its credibility is maintained. Likewise IMF and WB have their own agendas.

Christie's withdraws Gandhi's letter from auction

The priceless manuscript of an article written by Mahatma Gandhi [Images] written just a fortnight before his assassination will not be auctioned in London [Images] on Tuesday so that the Indian government can acquire it.

"The Christie's have agreed to withdraw Mahatma Gandhi's manuscript from the auction to facilitate the Government of India to acquire it," Dr Amin Jaffar, International Director of the noted auction house Christie's said.

"We decided to have facilitating negotiations which have resulted in an important historical record returning to India," Jaffar said in a release signed by Mathew Paton of the Christie's press office.

The Christie's had earlier fixed a reserve price of 9,000 to 12,000 pounds for Gandhi's manuscript written on January 11, nineteen days before his assassination.

The article -- related to Urdu Harijan for his journal Harijan -- with a number of emendations and cancellations ran into seven pages.

Earlier, Indian High sources said they were in negotiations with the Christie's on the modalities of acquiring the manuscript on behalf of the Indian government.

Reports last week that the manuscript was going to be auctioned had triggered instant reaction in India with several Gandhians urging the government to immediately intervene and initiate steps to acquire the letter.

One of the options reportedly considered by the government was to bid for the document in the auction.

Dilip Sardesai passes away

Former Indian Test cricketer Dilip Sardesai passed away in Mumbai on Monday due to multiple organ failure.

He had been admitted to the Bombay Hospital after he complained of chest infection on June 23.

The 66-year-old played 30 Tests between 1961 and 1973, amassing just over 2000 runs with five centuries, including an innings of 212, at an average of just under 40.

The steady batsman was best remembered for the stellar role he played with Sunil Gavaskar [Images] in piloting India to its historic first Test as well as series victory over the West Indies [Images] in the Caribbean islands in 1971 under Ajit Wadekar.

Rajini turns white and Kamal turns black

In Sivaji the positive effect of advancement of technology in film industry was much evident where super star's complexion was turned to white and this has been hailed as the first time in Kollywood. Now in the forthcoming Dasavatharam, one of the ten avatars of Kamal Haasan is said to be that of a black man.
Kamal Haasan who has a penchant for trying out something new in each of his films is sure to attempt a novel method in Dasavatharam in depicting a black man.

In fact he was the first one to use 2D animation in the action sequences in Aalavandan to tone down the violence. In Hey Ram, graphics was employed to describe his inner emotions. Hence going by the past history, in Dasavatharam too exhaustive techniques in technology may be exploited to portray him as a black man. Here not only the color of his skin, but also facial contours will have to be altered to make him look like a black man. Let us wait for the release of the film to find answers for all our queries.

Trisha’s failing part

Trisha who climbed very fast is no where between Tamil cinemas. Trisha is now left with two films, one with Vikram’s Bheema and Kreedom with Ajith, after this their is no way for the dwelling artist in Kollywood. In fact Trisha is consider to be one of the prominent and powerful Tamil actress in Kollywood, but why she is failing?

The reason which crippled her Kollywood ambition is concentrating more on social activities and her Bollywood ambition. Because of this two obvious reasons many film opportunity was skipped to other artists so the actress has to be conscious about her field rather than other activities.

FOCUS: KERALA - THE EMERGING E- WORLD

New digital directions

Kerala offers the right ambience for an IT boom.


THE JASWINI IN TECHNOPARK is the largest single built-up space in Kerala.

Consider these announcements from Kerala:

* SunTec Business Solutions, a Thiruvananthapuram-based provider of customer-friendly pricing and billing solutions, has decided that its flagship product suit, Transaction Billing Management Solutions (TBMS-F), will couple its tool with Finacle, the core banking solution created by Infosys.

* Another Kerala-based brand, IBS Software Services, has carved out a niche in the air transportation services business. The latest airline to adopt its `desi' passenger services system solution, AiRES, is Australia-based Virgin Blue Airlines; it follows in the footsteps of WestJet of Canada and VirginAmerica.

* The world's largest tax services provider, Kansas City-based H&R Block, has entrusted US Technology, another leading software and services player in Kerala's capital, with its software development and testing, on a long-term basis.

All three companies are clustered in or around the 300-acre (120-hectare) Technopark, India's first integrated software-hardware park, which is home to around 110 Information Technology (IT) players. They have found in Kerala a mix of professional competence, communication infrastructure and the right ambience to create cutting edge, world-class tools and applications.

Tata Consultancy Services (TCS) has its own site, mainly devoted to training, within Technopark. Infosys, another IT `biggie', has a 1.5-lakh sq ft campus, and has begun work on a separate 50-acre site to house its Special Economic Zone that will eventually employ over 20,000 persons.

When Technopark inaugurated its latest block, the 8.5-lakh sq ft Thejaswini, in February - the space was already sold out - the addition made it (at 3.2 million sq ft) the largest IT park in India. Thejaswini is the largest single built-up space in Kerala.

With Technopark often having to put up `houseful' signs, new companies have branched out to their own campuses around the same area and in the 200-acre Infopark campus in Kochi. The Leela Group's IT initiatives, and L&T and Wipro's first Kerala-based operations are based here.

Kochi's logistic advantages - the State's best connected, most modern airport and the closest access to international bandwidth - has proved attractive for private initiative such as the Muthoot Pappachan Group's 3.5-lakh sq ft Technopolis SEZ, whose anchor occupant is the IT services player Sutherland Global Services. Also recently, the State signed a landmark agreement with Dubai-based Technology and Media Free Zone Authority to create Smart City, a centre for high-tech activity in Kochi.

Network Systems and Technologies Pvt. Ltd. (NeST) was one of the charter members of Technopark, with a niche clientele in Japan and the rest of East Asia for its networking solutions. Today the group has grown to embrace automotive solutions, health care and industrial automation even as its software expertise and strengths in embedded and semiconductor technology have seen it rated an ISO 9001:2000 and a CMMI Level 5 company. It has set up its own units not just in Kochi and Thiruvananthapuram, but in Bangalore and at six international locations.

Kerala has taken up the Central government's challenge to create new Knowledge Parks. Recently, the Kerala Industrial Infrastructure Development Corporation (KINFRA) held a brainstorming session in Kozhikode, chaired by Minister for Industries Elamaram Kareem. Local trade organisations, infrastructure developers, heads of the National Institute of Technology - Kozhikode, Calicut University and the Indian Institute of Management - Kozhikode, and experts from ICICI who created India's first Biotech Knowledge Park in Hyderabad, joined to etch the contours of what could be the first hi-tech knowledge park in the Malabar region. Kareem promised that the State government would shortly float a new corporate entity to set up the proposed park.

While pursuing these techno-commercial objectives, the State has tried to take its people along - with people-oriented technology initiatives. This is a tightrope act: the State is still grappling with the general perception that it is prey to labour militancy, one that often clouds its record in literacy, health care and general quality of life. The installation of a Left-oriented coalition of parties, whose record for attracting international industry has been patchy to say the least, did not make matters easy. Though in fact, it was this same Front that in its previous tenure launched path-breaking initiatives to devolve planning authority to self-governing bodies. Today, the State supports such grassroots planning and local spending through its two facilitating arms, the Kerala State IT Mission and the Information Kerala Mission. The State IT Mission has a mandate to create people-centred tools and technologies - something it has done with notable success with the Akshaya e-literacy programme and the Fast Reliable Instant Effective Network for Disbursement of Services (FRIENDS), a single window citizens' transaction centre that is now available in all 14 districts of the State.

Akshaya made headlines three years ago when its pilot scheme in Malappuram turned the hilly tract into India's first e-literate district. Nearly 600 Akshaya e-kendras sprang up in the district (they have now been rationalised to around 350). By June 2007, seven more districts came on the map - with an average of 200-250 centres each and the infrastructure is falling into place in the remaining six districts.

The United Nations Development Programme (UNDP)-supported e-Krishi is to create market-driven agri-business centres across the State. Here, too, Malappuram is the pilot district. K. Anvar Sadath, manager, e-Governance and Head (Akshaya) Malappuram Cell at the IT Mission, reports that it has made a tangible difference to the power of small farmers . The State Civil Supplies Corporation recently procured over 3,000 tonnes of paddy from Malappuram farmers for Rs.8.5 a kg, when earlier middlemen paid them Rs.7. The entire operation was done at the www.e-krishi.org website.

The call of 1857

Legends of the First War of Independence 150 years ago deserve to be recalled in these days of the global revival of Western-style neocolonialism. Early British atrocity. Blowing away rebellious sepoys after tying them to cannons (May 21, 1857). From Sir Colin Campbell, `Narrative of the Indian Revolt from its Outbreak to the Capture of Lucknow', London, 1858.

ONE of the reasons why 1857 has endured in popular Indian memory is that a broad variety of people from all classes within the "nation in the making", a process going on till now, find some elements, and not necessarily the same ones, to empathise with. People's history, elite as well as folk, represents the rational analysis of the sedimentation of memory. This constructs a record of events that is passed on from one generation to another.

The Revolt started with Bengal Army sepoys, from the premier of the three Presidency British Indian armies, either leaving their cantonments for their homes in the middle Gangetic plains or when halted by their white officers, rising against them and their families in massacre and plunder before marching towards the traditional later Mughal capital of Delhi. Then segments of the civil population revolted in the towns and villages neighbouring the cantonments scattered from Bengal to the North West Frontier, Rajasthan and Central India. This escalated into brief mass wars of national liberation in 1857-1858, particularly in the then recently annexed Kingdom of Awadh, and also in some areas like Jhansi and Bhojpur, south of the Ganga in its middle reaches.


Depiction of `Native' barbarism against the colonialists. Images such as these - of British martyrdom at the hands of brutish `natives' who did not spare even women and children - deeply influenced public opinion in England.

The British Empire in India was rattled to its foundations. The war was certainly marked by gory events of anti-British violence. Many instances were also recorded of chivalrous Indian behaviour to fleeing `white' refugees. However, it was even more marked by draconic penal ordinances by the colonial authorities, suppression of press freedom, suspension of the rights of Indians to fair trials, summary hangings, blowing up of rebels from the mouths of cannons, and the infliction of inhuman torture on Indians for such trivial offences as turning their faces away from British troops marching in avenging columns down the roads.

This ferocity scoured deep into the colonial consciousness. Britons remembered 1857 for the massacre of a priest and women when Meerut mutineers captured the Red Fort. They recalled massacres in places like Bareilly or the agony of Sir Hugh Wheeler's group in Kanpur, or the murder of Britishers in Jhansi, all supposed to have been connived at by local notables who became leaders of the mutineers. Sob stories of first-hand experiences were followed by novelists rousing racist sentiments from the time of G.A. Henty's Illusion of Imperial Permanence until John Masters' Chronicles of the Crises of British Authority. Even today families seek a record of their great-grandparents' graves through the medium of the British Association for Cemeteries in South Asia (Bacsa), which is said to be bringing a group of graveyard tourists this year on a trip down memory lane to 1857 sites.


Colonel Platt killed by mutineers at Mhow. (Charles Ball, `History of Indian Mutiny', Vol. I.)

The Indian nationalist reaction was initially mixed. Maulana Azad, the Education Minister in the centenary year, writing the introduction to Surendra Nath Sen's Eighteen Fifty-Seven, notes the terror inspired by imperialist repression, which stopped 19th century Indians from publishing their accounts. There were of course Indian loyalist accounts, most notably Syed Ahmed Khan's account. The young M.K. Gandhi studying law in London was asked by a Briton to read Kaye's History of the Sepoy War to understand the realities of British policy in India. Most members of the Bengali middle class (whether they joined the Indian Civil Service, like my own grandfather, Brajendranath De, or took a strongly anti-colonial position by the early 20th century such as the Brahmo journalist, Krishnakumar Mitra) recalled in their reminiscences how as children they had either been cooped up in an ancestral house in a narrow lane in Bhowanipur in south Calcutta, close to Fort William, or hidden in bushes behind a family house in Mymensingh district in East Bengal, fearing that sepoys might come to rampage through their towns. Average Bengalis, `Madrasis' or Punjabis before the Second World War disengaged themselves from lower class or petty feudal militancy.

NATIONALIST REVIVAL

By the early 20th century, critiques of imperialist actions that sought to recover the rebellious voice of 1857 began to appear. Its golden jubilee in 1907 was marked by a Maratha student in London, Vinayak Damodar Savarkar, who had grown up in Ratnagiri in the Konkan, close to the residence in exile of the last Burmese monarch Thibaw, seeking to enthuse feelings of patriotism against British oppression. His detailed counter-reading of Kaye and Forrest was entitled The Indian War of Independence, 1857. This presented only the point of view of the rebels, and lacked even Kaye's attempts, through footnoting, at magisterial impartiality. The book was promptly banned, Savarkar arrested on other counts of terrorism, and transported to the Andamans, like many Bengalis and Marathis implicated in anti-colonialism in those years. His subsequent shifts, already evident in the Hindu chauvinist tone of his book, towards propagating Hindutva fascism culminated in his involvement in the Gandhi murder trial.

However, read in many illegally published, different language translations, this book played a part in inspiring the generation of militant revolutionaries of the 1920s and the 1930s. Ultimately, Subhas Chandra Bose, the self-exiled Congress president, and his reorganised Azad Hind Fauj in South-East Asia during Japan's war against the British harped on these feelings in the anti-colonial aspect of Japan's war with the Anglo-American alliance, which was followed by the transfer of power and Independence.

1857 represents an entire gamut of legends in Indian national consciousness from which people have taken their pick. This variety of choice in historical memory represents inevitable contradiction in the processes of "Imagining India". Some points, however, are substantially correct. For one thing, the revolt was explicitly against alien authority, unprecedented in the subcontinental record. In the early 20th century, chauvinists conjured up fantasies of the early Mauryas and the early Guptas as leaders of revolt against Greek and Hun domination, on par with the revolts against British rule in different parts of India from Plassey in 1757 until 1947. The 1857 revolt was no such fantasy. The "Saka-Huna-dal Pathan-Mogol" who came to dominate India remained wedded to its body politic, and were not foreigners when civil revolts occurred against them on dynastic basis. The sepoy rebellions and local revolts spanned the subcontinent from the North West Frontier Province (with sepoys fleeing from their officers into the Pathan hills and even north to Yarkand in Xinjiang and Khokand in Ferghana, where a `Lahore Jemadar' was found leading an army), and places in the Punjab, all the way to Jalpaiguri, Dhaka and Chittagong, from where sepoys took refuge, and even in far-off Bhutan.

This Revolt is part of the heritage of Pakistan and Bangladesh as well as of India, in the same way as the Indian National Army and the Rani of Jhansi Regiment are part of their anti-colonial heritage as much as of ours.

Fear of Conversion

The British were the first to come to India for financial profit, to be enjoyed in pensioned old age back in their homes to the north-west of Europe. Their exploitation was economic, to the extent that India was immiserised in its finances, national income, and potentiality for development in the interest of England and Scotland. It was politically repressive - decision making until 1947 in its highest reaches vested with a herrenvolk (the English of which translates as `master race' and the Hindustani of which is `sahib log') who turned upper middle class Indians into modern imitations of Europeans, as Macaulay wanted, in all but the colour of their skins. And it was socially distorting to the extent that in the middle of the 19th century, the apogee of Christianisation of the globe by the Western bourgeoisie, the `white' ruling class proposed a strongly Christian culture of Protestant Evangelicalism through changes in the education and laws of the common people. This dismayed the traditional, customary allies of British rule.

It was noted at that time by Karl Marx and Friedrich Engels (acute contemporary observers from afar of British Indian policies) as well as by Sir J.W. Kaye, the British internal critic of Dalhousie's levelling administration, that it was the sepoys who keenly felt the loss of traditional privileges, such as in judicial immunity in cases within their native villages as well as in alien orders to leave India to fight Britain's wars in China, Burma (Myanmar) and Iran. On the other hand, the "Doctrine of Lapse" by which old Maratha sovereignties such as Nagpur, Satara, Kolhapur and Jhansi were subsumed into British dominion, and the last Peshwa's adopted son Nana Sahib's pension was forfeited, as well as the annexation of the British-allied territory of Awadh raised enemies for Dalhousie's successor Canning. Policies of modernisation and progress at the cost of tradition created the tinder that the cartridge controversy ignited. The cry took the shape of "customs and religion in danger". Muslims and Hindus alike felt endangered. The ones who took up arms were not just Muslim jehadis in Rohilkhand, Tonk or Hyderabad but many more with material and ideological interest at stake, the impoverished gentry and the old martial class.

Proclamation by Bakht Khan, the Commander-in-Chief of the rebel army in Delhi. He fears that the English may enter the town and exhorts Hindu and Muslim troops to fight the enemy with zeal. (National Archives of India, Collection No. 57, Serial No. 461, dated September 10, 1857.)

There were also working people, such as Muslim artisans, weavers and the like, Hindu archers (Pasis) who were traditional village guards, or the tumult-prone Gujjars in the north, who had little to lose but their chains. All listened to the call of dharma or deen. In this sense, Christians were the targets of those who rose in revolt. In a broader sense, Christianity was the symbol of intrusive colonialism, seen as a bourgeois crusade for market globalisation, much as it is being seen by neoconservatives today.

The Indian side cracked into a myriad of fractured interests. Where colonialism presented a united front, based on what the French historian Charles Moraze once called "bourgeois conquerance", the Indian aspect of the revolt represented lack of unity. The elements of unity represented by the ishiahars or proclamations, or the constitution of temporary councils set up by the rebel armies under the leadership of people like Bakht Khan or the Rohillas of Bareilly, are certainly worth studying, as scholars such as Iqbal Husain and Rajat Kanta Ray have emphasised recently. More important were the deep structures of patriotism represented by social forms of complementarity and symbiosis in the semi-feudal, proto-national sentiment in Awadh under the overlapping structures of village biradari, rural talukdari and Nawab-Wizarat, to which Rudrangshu Mukherjee had drawn attention as early as 1982. There was a certain primitive democratic format in these attempts to establish order within a world turned upside down.

Yet, these could not last, given the older traditions of clan dissension, caste differences, religious separation, despite all the grudging respect that the variety of sects of Hindus, Muslims and Sikhs had amongst each other. To these were added the geo-ethnic territorial variety of Indian political custom, which the first century of British imperialism had made no attempt to eradicate. Fighting as they did on fractured inner lines of communication to get to Delhi or to their own homes, the rebels were hemmed in by British-Indian control of the seaports and the hinterland whose middle classes remained supine.

Local Legends

The real significance of 1857 lies in spotlighting ways in which colonialism had impacted on different Indian regions in the previous century since Plassey. The Revolt of 1857 complemented the heritage of resistance to British aggrandisement, demonstrated by the Sikh Khalsa and the Talpur Mirs of Sindh in the 1840s, by the Afghans, the Burmese, and the Marathas in the previous 50 years, and by Tipu Sultan and Hyder Ali in Mysore, and the Poligars further south, as well as by the tribal forces of Western Frontier Bengal in the 18th century. There were many uprisings in India in the 100 years from 1757. The sepoys were both their hammer and their ultimate anvil.

To say this is not to belittle the heroism and fortitude of the rebels themselves. Many images come to mind. Mangal Pandey, whether inflamed or not by midday bhang, rushing out singly at his masters on an open parade ground, calling on his laggard comrades "Bhenchodes, come out and fight" and refusing to crib on them before being hanged; the men, and indeed women, who fought before the walls of Delhi, in the face of adversaries pouring in from the Punjab, with even `hillmen' from the Himalayan foothills between Shimla and Nainital, who made the blood-crazed British sackers fight house-to-house for a week to retake old Delhi; the almost 80-year-old Bihari Thakur of Jagdishpur, Kunwar Singh, and his brother Amar Singh's remarkable expedition along the south bank of the Ganga, crossing over to Lucknow and Ayodhya, fighting their way back to their home for Kunwar Singh to die of his wounds while several British columns scoured and burnt down the villages in the jungles all around in search of him; and the almost mythical Lakshmi Bai leaving her fort on horseback with her adopted son strapped to her back and fighting three battles before being shot down outside Gwalior. These are the stuff of our modern legends; they deserve to be recalled in these days of the global revival of Western-style neocolonialism.

Barun De, vice-president, Asiatic Society, Kolkata, has recently published `Secularism at Bay: Uzbekistan at the turn of the Century" (Manohar, 2005). He was formerly founder-director, Centre for Studies in Social Sciences, Kolkata, and Maulana Abul Kalam Institute of Asian Studies, Kolkata.


Proper papers gateway to UK

Proper documentation coupled with proven financial resources is the mantra for obtaining an easy visa to the United Kingdom. This was made clear by the Entry Clearance Officers of the British Council, Ryan Bennett and George Farrell while interacting with students through videoconference from Chennai.

Careful documentation will preclude the need of the interview, the officials said. If visa section is satisfied with the documents, a stamped visa will be posted to the candidate along with originals. Interview will be held only if further clarification is required.

A completed visa form and student questionnaire, proof of English language skills such as IELTS certification, valid passport and travel documents, recent passport size photograph and visa fee presently Rs. 8,450 are mandatory requirements for obtaining education visa to the UK. These should be accompanied by a valid offer letter from the institute explaining the type of course, duration and starting date. Recent bank statements for six months, pay slips, written confirmation from the sponsor, and evidence of his employment or business should be provided as per the requirement to convince the officers that the candidate is financially well supported. If the candidate is receiving a full scholarship from the institution covering his living expenses, then no proof of finances or sponsorship is needed. “It is up to you to show that you qualify for a visa. We can not just take your word for it,” said Mr. Ryan.

Students would be allowed to take up part-time jobs up to 20 hours per week during study and full time during vacations to supplement their finances. Candidates can apply online at www.ukinindia.com and send the supporting documents through nearest Visa Facilitation Services office. VFS office will also accept applications. Original documents will be returned to the same office after verification. “Prepare application thoroughly and apply 2-6 weeks before you want to travel,” cautioned Mr. Ryan.

Additional information www.vfs-uk.co.in

www.britishcouncil.org.in

www.workingintheuk.

gov.uk

www.ukinindia.com

www.dfes.gov.uk/providersregister

www.ukvisas.gov.uk

Fee structure

Studying in the UK involves two kinds of costs—tuition fee and the living costs. The costs vary for different subjects. The approximate average tuition fee per annum is as below:

Arts – £6250 to £7650

MBA -- £6000 to £20,000

Science -- £6500 to £9700

Clinical Courses -- £6960 to £18,000. Living Cost will come to about £7000 to £8000 per annum and varies according to the location.