Economy

A rather regrettable medical situation arose in Mallya Hospital, one of Bangalore's premier hospitals, two years ago. A patient's life was placed at great peril and she is lucky to be alive today. At the culmination of a case fought and appealed at a consumer forum, the hospital paid the patient Rs.265,588 a few days back. Here's what happened: Early June 2006M G Radha, aged about 58, a housewife and resident of Vidyaranyapura began experiencing bouts of back pain. The pains persisted for about 15 days, and Radha and her family decided to get the condition investigated at Mallya Hospital.…

Many people have dreams that they would like to convert into reality, but more often, as reality meets imagination, it's reality that triumphs. And when someone has gone to all the trouble to study Computer Science at a prestigious university in Boulder, Colorado, USA, and followed that up with a degree from IIM Ahmedabad, one may be forgiven for thinking that here's a young man who will follow the usual corporate path and make a big success out of it. But if Sreeram Vaidyanathan is the young man one is thinking of, one would be quite wrong. "I have always…

Bangalore has many angel investors these days. In the last six months, I have come across several persons and groups who have expressed interest in funding start ups in the city. While this is good news, an entrepreneur needs to tread carefully before accepting money. In addition to the quantity of money, the quality of investment may also be important. Entrepreneurs need to understand what they need. Sometimes it may be more than money; they may need customer contacts and advisory inputs.Entrepreneurs also need to view this from the angle of the angel investor. Why would the angel be interested…

Many persons in Bengaluru are becoming entrepreneurial and venturing on their own. We also have many venture capitalists (VCs) who are here in the city as well as those outside looking to fund promising start ups. However, sometimes, even if an idea is promising and the team is good, the venture may not be ready to go to a VC. Kumar and his start up are a case in point. Gyan, an advisor, was interacting with a group of entrepreneurs and potential entrepreneurs in Bengaluru in late 2006. Kumar was one among the group and asked many questions about how…

Marketing need not necessarily involve cash outflow. Sometimes one can earn money, while reaching out to new customers in the process. Gift coupons, for example, offer you the double advantage of making money while reaching out to new customers. Your existing customers and well wishers can buy these, to gift as vouchers to those who may not have heard of you. We have two such companies in Bangalore who believe in this. Active Canvas, a one of a kind art school for people of all ages, offers a variety of courses and hosts events. It now offers gift coupons. Many…

 Entrepreneurship is about thinking differently, creatively. Innovation is not limited to having unique ideas or projects. Innovation can be in the way one manages operations, the way one implements projects or in a combination of all this.One of the key problems faced by entrepreneurs... and no prizes for guessing... is shortage of money. Some entrepreneurs have come up with creative solutions to manage with limited finances at their disposal. What may seem like an essential cost to most persons, have been reviewed and innovatively reduced or managed.One such cost is the cost of routine administration work. While it may seem…

"Birth and death are the only certainties in life..." but in our culture, weddings are almost certain, too. And to celebrate the wedding, we need to hire wedding halls or Kalyana Mantapas. However, the hiring of these seems to be beset with various difficulties, and the wedding hall sector seems to be an unorganised one. According to Eshwar Bhosle, who publishes a directory of marriage halls of Bangalore, titled "Kalyana",(see box) about 10 new halls come up in the city every year, and an average of 60 to 80 weddings are performed in each hall every year. There are about…

A number of recent verdicts from the IV Additional District Consumer Forum in the city is a virtual alert for consumers. The cases range from violation of MRP on goods to damaging household effects during shipping. Vinay Prabhu had bought an Aquaguard Water Purifier (model Inova) on 6 March 2007 from Eureka Forbes ltd. in Benaganahalli, Bangalore. But from the date of purchase the purifier gave him trouble. The purified water was bad and difficult to drink. White and black particles floated inside the water and he immediately complained to the shop. He had to complain several times before they…

The club culture can be very addictive to most of us who after a hard day's work imagine that instant health and happiness awaits us at the club. They promise to give us untold delights - free access to all clubs, free air tickets to holiday resorts, sites with coconut groves, swimming pools, movie clubs and much more. The reality is shocking. Three disgruntled consumers who were badgered, coaxed and almost forced into becoming members of The Country Club here have had to complain to the consumer forums which have ruled in their favour. Three more approached CREAT, a consumer…

If fools did not go to market, cracked pots and false wares would not be sold. -- Jean Le Malchanceux (in the twelfth century). In India, consumers have had a raw deal in the market place and suffered in the field of health and welfare. Earlier they had recourse to the Monopolies and Restrictive Trade Practices (MRTP) Act. But after The Consumer Protection Act, 1986 came into force, and key amendments took effect in March 2003, consumers have been learning to assert themselves while buying goods and services. As a Bangalorean, what should be the first thing on your shopping…