ICIC Bank to launch Fuel-rich-Car Loan

Source: FakingNews@Babin.Kumar

Disclaimer: The ideas and opinions presented herein are solely the author’s imagination and in no way represent the ideas and opinions of any individual or organization. Any resemblance of such sort is purely coincidental.

This will surely bring cheers to millions of Indians who are aspiring to buy a four-wheeler, especially car. Known for its innovative ideas and always one step ahead of their competitors, ICIC Bank, the largest private bank in the country, announced to launch “Fuel-rich-Car Loan”.

In a media release yesterday, marketing head of the bank said “This product, as the name suggests, would have a loan component, on top of the usual four-wheeler finance, to cover the fuel cost for operating the car for a period ranging from 3 to 10 years. Keeping in view the current economic conditions and considering the dip in the car loan business, it could well prove a Game-Changing idea for the bank.”

On being queried, if the product is inspired by the latest increase in fuel price, the official answered “The idea was being considered for long. As per an A. B. Nielsen survey, conducted in 2009, “Rising Price of Fuel” emerged as the prime de-motivator for prospective car buyers’. The survey comprised 5000 respondents and was conducted across four metros – Mumbai, Delhi, Bangalore and Chennai. The survey result gave us some food for thought. Then, the idea was conceived and it’s a result of tremendous effort put in by our product team in designing the offer which has enabled us to present it to you.”

In reply to the tentative date of launch of the product, he said “We believe that there could have been no better time than now to make the announcement. Also, as the festive season has already kicked-off and most of the customers would be gearing up to buy a car around Diwali, we have decided to launch the product on 1^st October. This would give sufficient buffer time to the market to accept the product before Diwali. Moreover, this being a new-age offering, initially it is bound to take a little more time to process the loan requests. To handle the same and expected surge in applications due to festive season, we have planned to deploy more resources in the line of fire on this front.”

He sounded very upbeat putting forward the bank’s forecast on the acceptability and demand of their product. “We believe that owning a car is like realizing a dream, for every Indian. With this offering, we expect to equip our prospective customers with the much needed catalyst to realize their dream. Further, the Petrol prices, across Indian cities, have almost doubled in the last two years. Similar is the case with Diesel. Also, with the depreciating Rupee, rising Inflation rate in the country, and depleting crude reserves across the world; fuel prices are expected to feel more pressure in future. Various industry and financial analysts hold similar views. It is like the Working Capital fund, which is provided to organizations to run their business on a day-to-day basis. We are anticipating a healthy response and ready to capitalize on the opportunity, which will add to our asset business,” the official said.

Going forward the bank plans to launch a stand-alone “Fuel Loan”, which would offer a loan to cover the fuel costs to operate four-wheelers. As mentioned by the marketing head, this product is still in nascent stages and further development would depend on the response to the “Fuel-rich-Car Loan”.

When contacted, some renowned industry analysts and banking experts foresee it changing the dynamics of the banking industry and consequently the whole economy in the long run.

Would you care for a Toffee?

It was a fresh new morning. The deserted lanes of the market had just started to get lively with shutters coming up, hawkers resuming their day and the Thelawalas setting up their stalls. The fragrance of incenses mixed with mouth-watering smell of the chats and sweets had just started to spread.

In the center of the market, there was a shop selling all kinds of confectionaries. A jar full of toffees was lying lonely in complete silence in a difficult-to-reach corner in the front counter. The Toffee didn't appear as energetic and enthusiastic as always. Witnessing this, the Chocolate got little perturbed and asked the Toffee, “What’s up mate? How have you been?"

"Nothing dude" Toffee replied. "You look sad; something bothering you?" Chocolate asked inquisitively.

"Yes, but how does it matter to you? You are enjoying your life." said Toffee.

"What? I didn't get you. Am I the reason behind your sadness?" shocked Chocolate said.

"Why is that I am always discriminated and you are always a favorite with everyone?” said Toffee with moist eyes. “I do not understand your point.” responded Chocolate.

“Yes it is difficult for you to understand, because you don’t have to bother about your growth rate, sales turnover, pricing. Go and check yesterday’s Economic Times and you will understand. Chocolate market in India is pegged at Rs 2,000 crore and is growing at the rate of 18 - 20 per cent per annum. The global chocolate market is estimated around $80 billion. According to a recent study in Great Britain showed that 91% of females and 87% of males consume chocolate products. Does anyone talk about me? Where do I stand? My future seems bleak.” agitated Toffee answered.

“You come, most of the times, only in one colour-brown. I mean, there can be better and vibrant colours. Still everyone finds you tempting. You cost from Re 1 to anything. Still you manage to enjoy such a great success in market. You have all the luxuries in life. Your stock area is replenished daily on a religious basis. You are always kept in an air-conditioned area, so that you can take a nap whenever you wish to. You hardly think of making any attempt of selling yourself because there will always be somebody asking for you.” continued Toffee.

“What a crap have you been talking at the start of such a lovely morning, are you out of your mind, Toffee?” irritated Chocolate replied.

“And here I am in the front counter of the shop, toiling hard in the extreme heat and unfriendly environmental conditions, inviting every passerby’s eyes but all in vain. I never cost anything more than Rs 5. I am available in so many colours - red, green, orange; white - to name a few. Take the example of Poppins, can you ever offer so many flavours and colours in one small wrapper? Also, I am such a tiny-winy and easy to carry character; no inherent problem of melting like you.” expressed Toffee.

“You are loved by all generations whereas I am just a cheap alternative for the tiny kids, who are hardly of any help to me, apart from just consuming me in the most disgusted manner. To top it all, you enjoy huge fan following among girls. And I tell you, they have been my most serious concern in this regard. Be it any occasion-birthday, friendship day, Valentine’s Day or just another stupid day, they are just crazy for you. And it is not just that they will have you, they will throw all kinds of emotional dramas and tantrums to have more of you. This has influenced even the guys to buy more and more of you, for the obvious reasons. Somebody sends some gift to someone, it will always have chocolates. Have you ever heard of anybody sending a packet of toffees in the gift? Now you tell, isn’t it discrimination? Where shall I go and sell to whom?” continued Toffee. Suddenly he paused for a minute.

Chocolate had been listening very seriously all this while, and could sense a feeling of anger and rebellion erupting in his mate. Before he could make any attempt to calm his old friend down, Toffee started again, “It’s high time, and I am not going to stand this anymore. I have decided to fight against this discrimination, the way Nelson Mandela did for his people.”

“And how do you plan to do that?” asked chocolate, seeing a possible threat to his popularity.

“I, along with my other friends, will sit on an indefinite hunger strike at Jantar Mantar. We will seek a ‘Prevention of Discrimination Against Toffees’ bill be presented and passed as an Act for the cause of our community. This will have clauses to address unfair treatment towards Toffees, especially girls, reservation of at least 27% of share of toffees in total confectionaries sales” answered Toffee.

“An indefinite hunger strike at Jantar Mantar?” said Chocolate with a little smile on his face. A huge sigh of relief had come to Chocolate after hearing his friend, though he did succeed in hiding his emotions to Toffee. Any chance of possible threat to his popularity and position has faded away as he was well aware of the outcomes of the recent protests of such kind.

“I extend full support to you and your community in this fight, my friend.” said Chocolate putting his hand on Toffee’s shoulder.

'S' and I

Sometimes in life, very involuntarily and unknowingly, we all tend to get inclined towards something. Though, once we get to know about it, we willingly adhere to it and follow it. This entry of mine is a testimony to  the same.

I hereby describe an association with something, which has become an unavoidable part of my life, and very interesting at the same time as well. But when we talk about association, generally, it’s with some person, place, profession. My case is a total contrary and stranger to the aforesaid generalization. This long cherished relation of mine is with an English alphabet….amazed….yes, it’s an alphabet and that is “S”. But an alphabet….How come..? I am still searching…. How did it become an inevitable part of my life…? I am still wondering….

Though many questions concerning the bond remain unanswered, I still hold it very close to my heart….because “Sometimes, it’s better to know all the questions but answers.”

Leaving questions and answers apart, one thing is for sure that I consider this company of “S” more precious and cherish it even more than many of the social relations. As I ink further, many evidences will be presented; which will testify such high claims.

The “S” and I are mates since my schooldays and if my calculations are correct, the relation has a 10 yrs long standing as of today. Many people come in our life and many times, they become life-time associations too. But my affinity with “S” holds a special status, as it has been, coincidentally and very consistently, the initial of many of the names, who have appeared in and left a lasting impression on my life.

The first name dates back to start of Class XI. I mention this as it was my first encounter with “S”. The second face-to-face with “S” was during second year of college days. My friends always tried to associate me with this girl and they thought - “I had feelings for her”, even I thought similar at moments. As time passed by, I was able to get over it but I must confess that it was not impact-less. Before I bring in the 3rd “S”, I should mention that the previous “S” was the longest companion, having originated during college and carried till end of my first job. Next i.e. the third “S” was the most beautiful and adorable association. It all started with a chocolate (few of my close friends do know more details about this). I must thank one of my friend, who tried his best to inspire me for the above act and he succeeded as well. It started good and went on well for quite a significant time. But, every relation has its share of ups n downs, this also had. We tried our best to get it back to seamless ground. Our efforts did bring out fruits, but pre-jitters level was too difficult to achieve. Then due to unavoidable reasons, the vigor in the association subsided a bit. The bond still exists, but not at the same level of connect. I must confess, this relation had maximum feelings and emotions attached to it. It has been the sweetest and closest to my heart.

That was the time, when I realized that the “S” has been playing a significant role in my life. All these could be mere coincidences, but have been wonderful. I became a fan of “S” or vice-versa. I have developed a great favoritism for names starting with “S”. It has influenced me so much that I couldn’t escape from naming my nephew and niece, with their initials starting with “S”.

This strange association has not spared me even at my second innings of education (that’s after 2 years of job break). There are few “S”s and non-“S”s as well. The non-“S”s, actually do not start with “S”, but they surely have this “S” factor inherent in them. I, somehow in my own way, manage to count them in the special category of “S”s and hold the same respect as the others.

These indispensable bits of my life would not have existed had “S” not been there. Before I wind up, thanks “S” and may you be there forever with me.