Bangalore: Air Deccan will introduce a flight to Hubli from Bangalore on August 23, the date it launched its operations in India three years ago. To celebrate its third year of operations, the airline has introduced a customer initiative throughout August wherein any passenger whose PNR number ends with 00 or 50 will get a free ticket, which is transferable.

Air Deccan managing director Capt. Gopinath said, "India, as a country, got its independence on August 15, while the Indian, as an air traveller, truly got his independence on August 23, with the launch of Air Deccan. This is, perhaps, no coincidence, and we at Air Deccan are happy to share and celebrate the true spirit of independence with India's common man with our special offer."

Micro-finance

Ela Bhatt, chairperson of Sa-Dhan, has said that micro-finance institutions (MFIs) should expand their operations to reach out to a larger section of the population.

Participating in a conference on "Fuelling systemic growth through standards" that focussed on the emerging issues of governance, cooperation and competition and developing client perspectives in the MFIs, she said the institutions should expand by "building a culture of trust and transparency. With mutual accountability we can take on the tougher challenges that the coming decade will require."

The conference also had discussions on the sectoral initiatives in defining financial standards, ethical norms and transparency and accountability mechanisms in order to help the micro-finance sector become a part of the formal financial sector in reaching out to people outside the banking sector.

Mathew Titus, executive director, Sa-Dhan, said, "The need of the hour is to develop a new framework of discourse for practitioners in the sector. The micro-finance sector in India is entering a crucial phase of evolution that is very distinct from the experience of other countries."

According to K.G. Karmakar, managing director of the National Bank for Agriculture and Rural Development, the key issues that need to be addressed are access to low-cost funds, regulatory and governance matters, risk assessment and, most importantly, returning to the roots to understand and address the needs of the poor.

Joins Haier

Haier Telecom has appointed Praveen Valecha as the chief operating officer. He will be responsible for establishing a sales and distribution network across the country. Before joining Haier Telecom, he served as the product group head at LG. He is a founder member of the India Cellular Association.

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