ISSUE 1, DECEMBER 2009

THE MAGAZINE

5 workwork lifelife balance

12 the world is a stage Standard Chartered is built on teamwork, partnership and the diversity of our people. Standard Chartered Bank Nepal Limited has been in operation in Nepal since 1987. The Bank is an integral part of Standard Chartered Group having an ownership of 75% and the balance owned by the Nepalese public. The bank is the largest international bank currently operating in Nepal.

Standard Chartered Bank Nepal Limited offers a full range of banking products and services in Wholesale and Consumer banking. The bank has been the pioneer in introducing ‘customer focused’ products and services and aspires to continue to be the leader in introducing new products and in delivering superior services.

For more information visit www.standardchartered.com/np

Contents

3 Message from the CEO 28 MJ: Living my Dream 4 From the Editorial Desk 28 Rain 5 Chat it up: Work Life Balance 29 Shayna 8 The Art of Photography 30 Sharing Best Practices 11 A Trip to Muktinath 30 For Confession 12 The World is a Stage 31 Tears

ON THE COVER 14 At Home 32 The Story of the Homeless, 16 Face to Face with Avi our National Programs and 18 Book Review My Heart’s Happiness Panchatatwa is a Sanskrit term, wherein 'Pancha' means 'five' and 'Tatwa' means 'truth' or 'reality'. 19 The Way 33 Kathin Bhayo 'Panchatatwa' represents the five elements from which life evolves - Prithvi (earth), Apas (water), Tejas 20 SCB Moments 34 The Red Festival (light), Maruta (wind) and Aakash (sky). At Standard Chartered, we have five values which make up the 22 A Peep into MBC & ABC Trek 36 The Dynamics of NC IC distinct SCB Culture: 23 Keynesian Stroke in the Exchange Rate Courageous - We stand up for what we believe to be 21st century 38 Unexpressed Words right. We accept accountability and take calculated risks. 23 Timi 38 Sketch Responsive - We listen to our customers and colleagues and build strong relationships based on 24 Photo Feature 38 Walkathon 2009 mutual respect. We work quickly, thoughtfully and 26 Langtang Trek effectively to deliver the best solution.

International - We value our diversity. We share standards and best practice. We work together, as one Disclaimer: The ideas, views, expressions in the various articles of this issue of team across the Bank, for the benefit of our customers. Panchatatwa Magazine are those of the writer mentioned. It does not reflect the views of Standard Chartered Bank. Creative - We are innovative and imaginative in working with opportunities and challenges. We Please send us your feedbacks to [email protected] continuously improve the way we work, making it simpler, better and faster.

Trustworthy - We do what is best for the Bank and our customers. We deliver on our promises and work to Design: Amnil Technologies high standards. We are reliable, open and honest. Printed in Nepal 2 Panchatatwa CEO'S MESSAGE

Message from the CEO

I welcome you to the first issue of The Panchatatwa Magazine. Panchatatwa’s transformation from a newsletter to a magazine is yet another prominent feather added to SCB Nepal’s glorious cap. Now is the opportunity to make good use of this widened rostrum to add wings to your thoughts and enthuse the world.

Hinduism pronounces “Panchatatwa” I take pride in asserting that we have as the convergence of five elements achieved milestone after milestone to form the human body. For SCB in the journey of SCB towards it is the convergence of thoughts, excellence. Along with being upright ideas, aspirations, creativity and in terms of financial performance, we suggestions to form a reflection of the take great pride in being adjudged SCB culture. I extend my wishes to the best brand of the country. the newly constituted Editorial Board Nevertheless, we all need to be for coming up with the new issue. mindful of the fact that this pride I hope the momentum continues with instigates great expectations and the reformed team and we scale new responsibilities- expectations of all our heights year after year through this stakeholders and our responsibility to intellectual elixir. fulfill them.

The times are turbulent and immense opportunities lie camouflaged- both organic and inorganic. I urge upon you to act in unison with each other to extract these opportunities. I am confident that with a strong team like ours no target will remain unattainable. I solicit your support to continue living the SCB culture and to continue being the BEST.

Cheers

Sujit Mundul Chief Executive Officer

www.standardchartered.com/np 3 EDITORIAL

From the Editorial Desk

L to R: Anjani Amatya, Anish Dixit, Ashutosh Mani Dixit, Pranu Singh, Rabi Rayamajhi, Ibha Baidya

We are amazed First and foremost we express our We thank the writers, poets and deepest gratitude to the CEO, Mr. other contributors who sent in their by the diversity Sujit Mundul, for his trust in us to expressions. We admit that not carry forward the resonant legacy of everything we received has been of experience Panchatatwa. published. Filtering was not an easy task but there were precincts people have in After brainstorming as to whether to be maintained. Many people Panchatatwa should remain the same inside the bank were also invited the bank. It was or go for a drastic change with the new to write. We are amazed by the editorial team, a middle approach was diversity of experience people have splendid to unveil chosen. Its essence remains the same. in the bank. It was splendid to unveil It continues to be our platform of sharing photographers, music lovers, artists, photographers, ideas, thoughts and experiences. writers, fanatic readers and adventure However, we hope you will feel a fresh lovers amidst full time bankers. music lovers, aroma as you turn the pages. We hope you wish that there was more of it when We are immensely grateful for their artists, writers, you close the last leaf. contribution to this issue-you all were truly our inspiration that kept fanatic readers We are also extremely proud to us going. With your continuous announce that Panchatatwa has not support, we promise you the best of and adventure only grown from a quarterly newsletter expressions in future as well. to a bi-annual magazine, it has also lovers amidst full crossed the boundaries of SCB- Panchatatwa is here for you. Nepal by reaching out to our external time bankers. stakeholders. By bringing Panchatatwa And in the meantime, we wish you closer to you, our family of contributors Happy Reading… and readers has grown bigger than ever.

4 Panchatatwa4 Panchatatwa CHAT IT UP

Chat it up Work Life Balance Panchatatwa Editorial Board

“Chat it Up” is a “Work Life Balance” – the 4. Shalini Parajuli-Assistant expression that was first used in Relationship Manager- regular section of late 1970s to describe the balance Development Organizations between an individual’s work and 5. Sunil Pokharel-Senior Business Panchatatwa in personal life, has now become major Development Manager- concern for all working individuals – Transaction Banking which selected subtly or profoundly. Over the past decade, there has been a substantial Work Life Balance to you- participants from increase in work which is felt to be What and How? due to an intensely competitive work Deependra is with SCB for the last the SCB staff are environment among other factors. 12 years and believes that work There has also been a notable life balance is attained by ensuring invited to discuss increase in workplace violence and rise that both your organization and the in absenteeism level along with rising people who wait for you at home are on a given topic workers’ compensation claims which happy. For him, it has always been are evidences of an unhealthy work the quality of time that has mattered over a cup of life balance. Employee-Assistance more than the quantity when it comes professionals state that there are to making his family feel better. coffee. The many causes for this situation ranging from personal ambition to the An employee of SCB for 18 years, subject matter pressure of family obligations. Sunil conceptualizes work life balance to be very subjective which for the first "Chat Lets us now have a view of what our depends upon the nature of the eminent group of participants had individual. He feels that even in similar it up" discussion to say about Work Life Balance. The work situations different individuals participants were: may take different length of time to is WORK LIFE 1. Chitra Bista-Cash Supervisor- wrap up a job. He also highlighted Lalitpur Branch that the role of Human Resource BALANCE. 2. Deependra Thapa-Product Department (HR) is vital in this Head, Auto Loan regard. He recommends undertaking 3. Mamata Shrestha-Assistant of appropriate research initiatives Manager- Consumer Support to unearth the status of work life Unit-CB balance among employees of the

www.standardchartered.com/np 5 CHAT IT UP

Chitra Bista Deependra Thapa Mamata Shrestha Cash Supervisor- Lalitpur Branch Product Head, Auto Loan Assistant Manager- Consumer Support Unit-CB

organization with the consideration work-life. She recommends a that individuals differ in their basic proper analysis of an individual’s job work life related values. Living with description and the work hours. three dependants in the family, he cautions that the imbalance in work - The employer perspective also life can create an alarming situation, emerged out evidently from the leading to frustration and even discussion. The group felt that resignation in extreme cases. it is also the responsibility of the employer to play a facilitative role in For Chitra, mother of two, the his/her work life balance. Flexi- time role of the organization and the arrangements were also thought Shalini Parajuli support of the family are the two to be a welcome initiative in certain Assistant Relationship Manager- most crucial aspects in maintaining functions where individuals get some Development Organizations a good work life balance. Having leverage to choose the duration and spent over 18 years in SCB, her timing of their work hour. personal experiences suggest that an imbalance in work -life can lead to Changing work life priorities the direst of consequences including over course of one’s career… a social shun if we fail to attend to To Deependra, it is definite that certain social obligations. one’s work life priorities change over time. He feels that people enjoy Mamata’s work life depends upon the maximum liberty when they are the demand of the environment she single. Subsequently, compromises is working in. She is glad to have have to be made after they get adjusted well into different timings married and have children. Father of a offered by different job roles during three year old son and husband to a her tenure of over 23 years with working lady, he realizes that working Sunil Pokharel the bank. couples might go through tough Senior Business Development Manager- times while moving on their respective Transaction Banking Shalini believes that apart from the professional careers and strongly individual’s responsibility, the role of feels that this is something we have the line manager in the organization to cope with and be adaptive along is crucial in the issue of balancing with the passage of time.

6 Panchatatwa CHAT IT UP

Chitra has a different opinion. For her, Sunil, Deependra’s weekends are also otherwise. At the same time, he says family was more important during the dedicated to his family. it is good to be reachable not just initial years of her employment and it from the perspective of work but was only after her two children grew up Along with spending weekends with from that of family and relatives that she could focus more on her career family, Mamata also sets aside as well. and welcomed more challenging roles. sometime for pampering herself. She has also enrolled herself into Exec- Mamata does not have a habit of MBA morning classes and is seemingly Shalini firmly believes that small things turning cell phones off either but satisfied with her routine. can really matter for your family like admits that sometimes she has bringing home some take-away dinner missed calls unintentionally. She While family is of utmost importance for them on the way back from work. expresses her satisfaction that to Mamata, Shalini’s priority is giving “It doesn’t take much effort but can people from work do understand cent percent to her job. Married for bring togetherness and thus a lot of that you have a family life as well and three years, she feels fortunate to have happiness”, she quips. avoid calling you at weekends unless a highly supportive family. However, she it is an emergency. has kept her options open to change Saying “No” to your boss… her stance once the family extends. Shalini highlights that with good Being a salesperson, Shalini never understanding between the boss and switches off her mobile phone as well Creative ways to manage time his employee, declining of any request either and wants to be reachable. for your family… for something more urgent should not Having worked in SCB- Afghanistan for be a problem. Work Life Balance at your three and half years, Sunil reminisces organization… how tough it was for his family to see Deependra feels that both the boss Deependra believes that the issue him off after every visit. Now that he has and the employee need to formulate of work life balance is pervasive shifted to Nepal permanently, he makes alternatives in case of a conflicting in every organization whether or sure he spends his weekends together situation. However, he feels that the not it is talked about. The fact that with family. He has also started bonding nature of the situation will ultimately it is in discussion at the moment and socializing with his old friends dictate the request and the final would mean that the subject is of whom he had missed for all these years. approval from the boss. importance to our organization.

Deependra feels that it is vital to For Sunil and Mamata, the manner of Shalini, with five good years with SCB, understand family’s expectation rather communication with the boss is crucial. strongly feels that the organization that committing on some quantitative They observe that the same applies to is definitely concerned about its numbers (hours) to please your family. the boss as well when he is entrusting employees’ work-life balance. Visible He has a fixed schedule throughout the subordinate with any task. elements would include the alternate the week which includes dropping Sunday Offs, Happy Fridays as his child to school and his wife to her Reachable at all times- To be well as other numerous initiatives office. Mostly, he ensures he spends or not to be… undertaken by the bank for the staff. sufficient time with his child even if it Deependra has a strong agreement means carrying home some work or for being reachable as he feels one Is your Work Life balanced? getting up early in the mornings. Like might lose good business opportunities A big Yes from all!

Work-Life Balancing Mantra…in their own words….

Chitra: “The main mantra to manage work life balance is Deependra: “To me Work Life Balance Sunil: “Work Life Balance a positive attitude towards life. I also believe in touching means managing our own selves. varies over time. The hearts of people rather than minds. It’s an encouraging I have a habit of preparing work plan for right balance for today factor when you are appreciated by friends, customers each day and follow it thoroughly. My will probably be different and colleagues for going out the extra mile to help them morning starts from 4.30 am which also for tomorrow due to and understand their problems. This really boosts my includes Vipassana (meditation) and changes in your work/ morale and keeps me motivated at all times. Despite being physical exercise. I believe Work and life style. Along with that, busy, I exercise to keep myself fit. I’m an early riser (4 am) Life both are equally important for us the balance is different which helps me manage my classes and work. Before like two sides of the same coin. Hence for each of us due to going to bed. I always thank god for all the experiences- I religiously follow this mantra so that our different personal / good or bad, which I had during the day.” I don’t overlook any one side by just professional priorities”. concentrating on the other.” www.standardchartered.com/npwww.standardchartered.com/np 77 PHOTOGRAPHY

It does not matter what equipment you carry. Camera is only the tool; the real difference is created by the person behind The Art of the camera. Photography

8 Panchatatwa PHOTOGRAPHY

We all must have taken photographs, one time or the other; in birthdays parties, picnics, in any other social gatherings or just like that. We most often are not happy with the picture quality and wonder why our photographs are not as good as the ones Sanam Chitrakar Mortgages, Consumer Banking we see in different magazines and yearn for the same quality level.

So, do we really need to invest Here are few photography tips and in expensive cameras and lenses techniques to take better pictures: to take nice photographs? If you ask me you don’t. The first key to Direction of lighting taking a good photograph is having Photography is all about light and the vision. Good pictures are all its source. Try to pick a time when about having the ability to see the the sun is low in the sky or shoot possibility of a good frame and also early morning or late afternoon. being in the right place, at the right Shooting pictures of people with the time! Most fantastic photographs are sun too high in the sky can cause very rarely planned. It all depends harsh shadows on the face and upon your power of observation. squinting eyes. In such cases, use Take a time to look carefully and flash to even out the harsh light on you’ll begin to see photo possibilities the object, which would also result in all around. It does not matter what better clarity of the picture. equipment you carry. Camera is only the tool; the real difference is created Shooting in the early morning or late by the person behind the camera. afternoon gives a warmer color and

Camera with high mega pixel does not necessarily mean better photograph. If you are a beginner, go for a compact digital camera that takes fairly good pictures. If you are a photography enthusiast and know basic things about photography, get a Digital Single-Lens Reflex (DSLR) camera that is within your budget. With the DSLR camera you will have more control over camera.

www.standardchartered.com/np 9 PHOTOGRAPHY

pictures appears to be with more pleasing settings appropriately to suit your need. An effect. Most digital cameras have White advance setting comprises of creative zone Balance (WB) setting. Proper adjustment with Manual, Apertures Priority (AP), Shutter of WB setting (Auto, Daylight, Shade, Priority (TV) and Programmed (P) which Cloudy etc) enhance the picture tone allows you to freely adjust different settings- and quality. shutter speed, aperture etc.

Camera Flash ISO Setting Make sure your subject is within your flash ISO denotes how sensitive the image sensor range. Keep your subject away from walls is to the amount of light. The higher the so that you can avoid ugly black shadow ISO, the more sensitive the image sensor, which looks like an outline. Shadow of the therefore more is the possibility to take subject will not show up against a dark pictures in low-light situations. background. Set on “ISO Auto” mode, your digital camera Composition will automatically adjust ISO level in different It is not always compulsory to keep your lighting conditions. You can also manually subject at the center of the frame. Try to adjust the ISO level to have correct exposure. capture the subject with different angels Setting the higher ISO will result in more and perspective. noise (grains) in the picture.

Sometimes having everything in focus in It is definitely up to the photographer to the frame distracts the main subject. You use his/her skills to the best of one’s ability. can have your main subject in focus and Following the basic rules can help you get keep the background slightly blurred with the best possible frames. However, to be different settings of shutter speed and able to take good pictures depends upon the aperture. If you refer to your camera guide/ extent you develop your photographic skills. manual you will learn more about the Ensure that you refer to the latest trends in manual setting of shutter and aperture to photography and be up-to-date with the have depth of field effect. developments as well. And of course, be creative and let your imaginations soar. So, Use Different Modes Practice, Practice and Practice…………….. All digital cameras come with certain share your photographs with friends and ask basic default modes settings e.g. Portrait, them to comment and click more! Landscapes, Sports, Night scene etc. You may be required to change your mode Enjoy clicking!!!

10 Panchatatwa 10 Panchatatwa EXPERIENCE

A Trip to Muktinath Temple Meena Pant IATA, GTO

This year, during Dashain holidays, I had been serving as a storage place for many an opportunity to visit the Muktinath old religious artifacts of Buddhism. temple, located in the Mustang district of Nepal. This was my second attempt and Above the hill the village looked like a the first successful visit to the temple – my beautiful painting, surrounded by the last year’s attempt, unfortunately, couldn’t mountains with small clusters of houses, materialize due to the last minute flight apple orchards and buckwheat fields cancellation. with pink flowers. Wonderful waves were created when the flowers moved to and My friend and I flew to Pokhara and stayed fro with the blow of the wind. All the a night there. We reached the airport troubles of life seemed to just vanish as early in the morning, much earlier than I watched all of these. Before snapping the last time not wanting, in anyway, to back to reality, I captured the beautiful experience previous year’s disappointment scenes in my camera. again. Luckily this time, the plane did take off and I was able to heave a sigh of relief. The scenery from the plane was In about two hours we reached the foothill village of Muktinath. very enticing. We were flying through narrow mountains, over Further journey was to be done either on foot or by motorcycle. broad rivers and very close to the majestic Himalayas that had We chose to walk, though later we realized that we had turned golden with the glow of the rising sun. It was a truly made the wrong decision as it was not so easy climbing up breathtaking sight - a treat for sore eyes. to the temple. Adding on to our tiresome woes, my friend felt nauseous halfway through the climb As we got off at Jomsom airport, a cool Reaching the temple and that had to be dealt with. At last, breeze forced me to pull on my jacket. was truly a healing with great difficulty, we reached up to We checked into a hotel and settled the temple, huffing and puffing ourselves in. experience. all along.

After breakfast, we walked to a nearby place where we could Reaching the temple was truly a healing experience. On seeing hire four-wheel-drives for Muktinath. We began our bumpy the beautiful temple with two big ponds in its courtyard, we journey through the barren mountains. The road was very completely forgot that we had just made a very strenuous climb narrow and the driving skills exhibited by the young and up there. The temple is also surrounded by one hundred and inexperienced driver was nothing short of horrifying. eight natural water sprouts. We bathed in the holy water and went into the temple with our offerings. The climate was cool and dry. On the southern side we could see barren sandy mountains with big holes in them. I was told It was a divine feeling to be present at the holy temple. At that these holes were inhabited by meditating Buddhist Lamas. an altitude of 3800m, everything looked small when looked The view on the northern side was more glamorous with several downward. Muktinath temple is perhaps the only temple beautiful series of silver Himalayas. We took a short halt at a which is equally worshipped both by Hindus and Buddhists. place from where Marpha village was clearly visible. The red A perfect harmony of religion – very unique and very roof of the famous Red House of Marpha was shining brightly. inspiring. The house has been visited by many renowned personalities. It is situated on a steep mountain on the banks of the Kali Visiting Muktinath was one of my most rejuvenating Gandaki river. Buddhist monks used to live there and it has now experiences.

www.standardchartered.com/np 11 FEATURE EVENT

The World is a Stage

The Mania: The staff, divided into ten The results were Summer of 2009 – one could groups, were able to awe announced- winners were easily discern the whole bank the eminent judges from the euphoric while others bustling with enthusiasm and theater/cinema industry of were pleased to have energy even after work-hours Nepal alongside the audience. participated and amidst or long before office started! One could hear roars of much joy and cheer the The raison d’être was the laughter in a comic scene event was over. However, announcement of the mega- or could see clandestine its imprint is sure to remain event- SCB Drama Mania tears flowing with the actor’s afresh in the minds of our 2009- a drama competition gloom. The audience was people who witnessed Pranu Singh for the staff. undoubtedly being traversed history in the making. CEO’S Office to altogether a different world The event was SCB-Nepal’s along with the emotions Let us now take a glance latest endeavor to lead the and portrayals on stage. So at what the staff adjudged way in staff engagement and much so that, few performers as “Outstanding Actors” for The event was also prove its mettle once were considered to have their respective roles had to again in accomplishing what capabilities to challenge any say about their experience: SCB-Nepal’s was hitherto considered established actor! impossible -at least for latest endeavor full time bankers. An idea tossed by the Country CEO, to lead the formulated by the Cultural committee and executed way in staff seamlessly by the organizers has now carved a niche for engagement. itself in the history of the bank as an event which was truly first of its kind in the banking sphere.

Scene from Shabda Ra Vastavikta

Scene from Gajab ko Adalat Scene from Operation Take Back Dad 12 Panchatatwa EVENTS

Laden Pradhan – as Siddhartha in “Siddhartha Becomes the Buddha” “My experience of SCB Drama Mania has been absolutely overwhelming. It was a profound and uplifting experience for me. I was reluctant to participate in the play as I knew nothing about acting but I eventually accepted the role of Lord Buddha when the team decided on the cast. As I read the script, I felt immense joy in the innermost recesses of my heart. However on the performance day, as my character waited impatiently behind the curtains at the Gurukul stage, I was overwhelmed with anxiety and nervousness. Then suddenly, I felt a flame lit inside me-very intense and very concentrated. I imagined only light and no one else in the audience. I felt the cloud of anxiety disappear gradually and I felt lighter. The powerful lines of the Lord Buddha by Sri Chinmoy came spontaneously with much confidence and conviction. On receiving much appreciation after the play, I realized that I was a mere instrument; it was the receptive hearts of the audience that accepted the message embodied by the play. I feel very fortunate and equally grateful to the SCB team for their unconditional love and oneness.” Laden Pradhan

Gautam Lama- as Ghuithe in “Gajab ko Adalat” “Ghuithe…Sukeko Gobar…from Gazab Ko Adalat”….did I hear the right thing??? That was my initial reaction when my name was called out for an award for best actor. Working with the group has been a pleasurable experience with the initial hesitation, the nervousness and the eventual euphoria. To put in a nutshell, it has been a journey of mixed emotions and the award for the best actor has been the icing on the cake. Thank you all for the encouragement, the confidence, the support that you have shown. Cheers and a big thank you to the Cultural Committee for coming up with such a brilliant idea. Hope this type of activities will be organized in future as well.”

Gautam Lama

Sudhir Sharma- as Anjan Regmi- as Pasa and Jadiya Hakucha In “Gajab Maila in “Shabda ra Vastavikta” ko Adalat” “I never intended to be a part of “It was an amazing any drama. Things happened so experience for me as suddenly that before I could realize, I had never taken part in I was already practicing for my role any drama competition in the SCB drama mania. All the before this event. participants were equally good. More Winning the outstanding Riju Shrestha than that, it was all about team work. performance award Reaching Gurukul theatre early would not have been Riju Shrestha- as Devi mornings for rehearsals, coming to possible without every in “Devi” office to indulge in the professional one’s encouragement “Participation in SCB work and reaching home late night and support. Thank you Drama Mania was a after second shift of practice was and “Taremam” to all.” wonderful learning not an easy task. In my view “Drama experience for me. Mania” has given us a lesson to Anjan Regmi I discovered a new blend your personal and professional facet of my persona. life in a systematic way. God has given all of I am thankful to us 24 hours per day without partiality and it the management depends upon individuals how he/she utilizes for recognizing my the given time. For me, the main gist of the contribution to the “Drama Mania” was providing an opportunity event. I am also grateful to experiment your time management with your to my team mates and family, colleagues and as a professional. So the colleagues for providing “Drama Mania”, in a way, was a real drama of me encouragement your life.” and support during the event.” Sudhir Sharma www.standardchartered.com/np 13 EVENTS

The Nepali Theatre: In a snapshot, Modern Nepali is also the pioneer of street Witnessing the performance Theatre is believed to have theatre in Nepal having given mania on the stage, evolved in three stages: 35 years of his life in this field AT HOME rehearsing in the auditoriums • Stage One : Idealistic and still continuing strong. Sujit Mundul of Gurukul School of Theatre, theater (1948 AD to He works as a lecturer in CEO's Office getting to know the theater 1960 AD) Tribhuvan University and is the artists closely and working • Stage Two: Philosophical life member of Royal Nepal with them on the technical or Realistic Nepali theater Academy. He has published aspects, it becomes (1962 AD to 1987 AD) many books of poems, stories Cloudless sky, nippy breeze – somewhat impounding on us • Stage Three: and dramas. Sarwanam, setting sun; to ponder upon what the real Contemporary Nepali established in 1982 A.D has Surroundings appeared quite attractive. situation of theaters in Nepal theater (1987 AD till date) established itself as one of the is. Here is a peep into the – Proscenium theater leading theatre groups in the With an unspoken joy, walking I was Nepali theater scene- – Street theater country. along the green meadow, closer to home. Alongside traditional Over the years, the quality Mr. Sunil Pokharel: Your remembrance was knocking me, practices, religious activities, of Nepali Theatre as a Mr. Sunil Pokharel is a man of - haven’t met you for sometime now. festivals, folk songs, dresses, creative medium has scaled succinct words. This simple, dances, diverse ethnic new heights. Theatrical composed and down to earth Your words were visible – groups etc, the rich cultural performances have personality makes it almost “Live in everlasting peace; heritage of Nepal has another permeated many different hard to deem the magic he rejoice life with utmost desire to indispensable ingredient - aspects of everyday life creates on stage. He and his serve people”. Theater. Though commercial in Nepal. theater group- Aarohan- has theater came into prominent taken the country by storm Mostly oblivious of the path, drowned existence only a few years To know more about the creating headlines with I was in this thought! ago, Nepal has been involved ground realities, I decided whatever they pursue. in some or the other forms of to interview two veteran Questioning myself – “Am I doing so?” theatrical performances for theater artists who have A graduate from National Didn’t know the answer. well over two millenniums. secured prominent positions School of Drama (NSD, India), Since then, the concept of in the theater scene of Mr. Pokharel established Once again thought about you, my friend; theater in Nepal has gradually Nepal through their years of Aarohan in 1982 and started You peep through, smiling as usual! improvised. From the medieval dedication and tremendous a drama school, Gurukul, in ages to the 18th century, contribution to the stage. 2003 with modest means. “What is the confusion?” – you ask. premiers of the country Both of them are the Over the years, these two “Its all in mind – you do your work; generally regarded the theater respective founders of the institutions have acquired a as being an important avenue two most renowned theatres national stature. They have Expand yourself through others – for personal entertainment. of Nepal. SCB-Nepal was produced Indian, European without expectation, During the mid 1800s, the honored to have them as and American plays apart from Rana family created different two of the esteemed judges churning out Nepali classics Get out of your smaller boundary, theatrical troupes and in the panel which evaluated and contemporary plays. & love thy path!” constructed theater houses the SCB Drama Mania During the last 22 years Mr. for the troupes to perform. performances. Pokharel has been active in I could feel you are melting into me; However, the performances the cultural life of Nepal. He I’ve now reached home!!! were limited for the royal Mr. Ashesh Malla: has directed and acted in families. Gradually, there Speaking to Mr Ashesh theatre, television, film, radio was a merger of traditional Malla was indeed a treat. and has been taking initiative theater with western theatrical He is a man with infectious to street theatre and plays in traditions resulting in more enthusiasm and positivity. the Nepali villages. His vision organized productions. It was One could easily decipher his is to develop theater activists- then in 1948 AD that the first passion and love for theater in communities throughout theater performance was from the conversations. Mr. the country- who know their staged for the common public Malla is the founder and history and engage creatively by Bal Krishna Sama. It was director of Sarwanam theater and skillfully in the struggles of thus a turning point in the group. A renowned Nepali the people. theater history of Nepal. poet and fiction writer, he 14 Panchatatwa INTERVIEW

Presented next is excerpts from the Q. Can a full time stage artist survive Sunil Pokharel: interviews with both of them: in Nepal? No not all. Some audiences make distinct choices between the two and opt for any Q. What do you feel about the present Ashesh Malla: one but they are very few. For majority of theater industry of Nepal? Where do No, a full time artist cannot survive in people, it can be safely said that both the you see its future? Nepal. I would rather like to state that, in segment of audience is supplementary and general, the case is similar even in western complementary to each other. Ashesh Malla: countries. Most of the artists have other You cannot call it an industry as yet but means of livelihood to sustain themselves. Q. Why hasn’t there been any formal looking at the present context, it has a education platform for drama in Nepal? high probability of turning into one in near Sunil Pokharel: future. Theatrical performances have taken Yes, a full time artist can survive in Nepal Ashesh Malla: a leap towards an encouraging trend post but it completely depends upon the quality An effort has just been initiated to include democracy in the country. Audience is of his work and dedication. If the person dramatics as a subject in the primary level turning to theaters despite the numerous is convincing enough with his art, he will academics. But beyond that, there is no entertainment options available these be well respected and will not have grave specialization course as such. But I am sure; days. It is also very invigorating to see the problems in earning his livelihood. some initiatives will soon be taken into this younger generation getting more and more direction as well. interested in theater shows. Q. Is there any difference in the nature of audience from those of yesteryears? Sunil Pokharel: Sunil Pokharel: It is a gradual process. Given the Though theater in Nepal is still at its formative Ashesh Malla: present demand for theater, formation of stage, it is progressing towards a bright future. There is certainly a huge difference in internationally recognized formal training It has been able to make a respectable mark the audiences. Today’s audience is more grounds would be inevitable. If a proper for itself in the South Asia theatre scene. demanding and possesses a critically Drama School is established in the country, intelligent perspective. They want to see there is enough scope from enrolling Q. Are actors born or made? quality work. students from across South Asia. Gurukul School of Drama was established in Ashesh Malla: Sunil Pokharel: 2003 to fill this gap which offers two-year Some people are born with certain talent. Today’s generation is more empowered. They residential courses in dramatics. We are Art is ingrained in them since birth and they are intelligent and pose questions. They are working towards getting affiliation from an are the ones who dedicate their whole life to more cultured and have got critical eyes. They international university. it. In others, it can be nurtured and polished. not only come to absorb whatever is being However, the difference between the two is offered to them but have a deep and genuine Q. Do you get support from the somewhat evident, the former being more interest in the subject matter. government or the external agencies? impactful. Q. Is the cinema industry killing the Ashesh Malla and Sunil Pokharel: Sunil Pokharel: theatres? No there is no support from government at When you are born you learn your present. But in recent times, there is some mother language naturally but the correct Ashesh Malla: interest being shown by NGOs and INGOs. vocabulary and grammar can only be Certainly not. Even though there is an array learnt through proper training and practice. of choices for entertainment these days Q. How was the judging experience of Similarly, every individual is born with acting given the mushrooming TV channels and the SCB Drama Mania? How did you capabilities but he who excels is the one movie theatres, people still come to watch find the bankers on stage? who works hard towards perfecting it. theater programs. Ashesh Malla: The performances were beyond our L to R: Harihar Sharma, Ashesh Malla, Sunil Pokharel expectations and the actors were truly exceptional on stage. I think a feat of this category and magnitude was first-of-its-kind attempt for any bank in the whole of South Asia.

Sunil Pokharel: It was a very pleasant experience for me. I see it as a commendable effort to combine the corporate world with that of the theater. It was amazing to witness the enthusiasm of bankers on and off stage during the entire course of the event. I hope it revived the energy level of the bankers as well.

www.standardchartered.com/np 15 INTERVIEW

Face to Face with Avi

Panchatatwa Editorial Board

The Panchatatwa Editorial Board (PEB) PEB: Your favourite sportsperson? With amazing spoke with him few days after to catch Avi: (hmmmss for sometime thinks a bit…) his reaction and for a brief chat up, here Rahul Dravid – for his calmness years of sports are the excerpts for you:~ and composure.

behind him at PEB: You just won the Best Batsman PEB: we know how busy people are at the Soaltee Super Sixes, how do at SCB, when do you get the time SCB Nepal, and you feel? to practice and stay fit to play these Avi: Feels good, it’s very inspiring! games? a spectacular Would have been great had we lifted the Avi: (Laughs) it’s all about passion. If one is championship title. passionate, all the time in the world is there performance at for you. It all boils down to how passionate PEB: You play and have participated you are about it. I have always had a the SCB Drama in a variety of games – football, deep passion for sports and when there is cricket, volleyball, and you have run passion, we can always take out time for it. Mania, Avinash the Marathon as well – When did your interest in sports start? PEB: Any tips for staying fit? Those Chettri (Country Avi: It was from school days. I started who would like to play or would like to playing from my very early days. I give a start? IT), the team studied in India and there were two Avi: My only tip – Exercise – What it does fields to choose from as extra curricular is - at least what it will do is help you to captain of the - either music or sports. I chose Sports maintain yourself. Playing games helps and that is how it started. too… You can always collect few friends SCB team, won and play it for an hour. This certainly is PEB: So, it was from class one that more enjoyable and effective in burning the Best Batsman you started playing? down your calories. Avi:I don’t remember when it exactly at the Soaltee that I started, I have always played as PEB: We have heard comments about long as I can remember….. your performance at the SCB Drama Super Sixes 2009. mania, it was a wonderful one. Was it PEB: You play so many games, your first time? Congratulations which is your favourite one? Avi: It was my very first time and I was very Avi: Cricket excited to do it. Avinash!

16 Panchatatwa INTERVIEW

Winning does matter. Though I know that the spirit of sportsmanship makes each of us a winner but certainly- ‘Victory’ has a different taste.

PEB: How was the whole in building the engagement level within PEB: One last question: you ran the experience? us and undoubtedly differentiates us 21 Kilometers Marathon in Mumbai Avi: It was a wonderful experience. from the rest i.e. Leading by example! in 2007. People who had seen you The spirit, acquaintance, engagement Additionally, it’s only one thing: we have did not think you could make it, you level of the team and the bonding we reached the finals three times at the know, given your heavy built etc. but developed was amazing. We got to Soaltee Super Sixes but have not won you ran the whole 21 Kilometers to know each other very well and the it once. We have taken it that far, but I the finish line. What was the source whole experience of being on stage and feel bad that we have not gone through of inspiration? What motivated you? performing…I never thought I could do the finals. Avi: As I said, it is all about passion. It it, it was revelation to me. I am glad that is all about how passionate you feel for it came out well and friends have liked it. PEB: Does it matter very much? Isn’t it. I love sports, I love playing it. You can it good that you have participated do it when you are deeply passionate PEB: Which event at SCB has been that well? about something. My love for it was the most memorable one to you? Avi: It does. Winning does matter. the inspiration that made me do it. We Avi: It is the SCB Cricket Challenge in Though I know that the spirit of had practiced for 45 days before the Mumbai. The fact that that we were sportsmanship makes each of us a run. Sometimes we ran from Sanepa to playing in the Region inspired us and winner but certainly- ‘Victory’ has a Dakshinkali to practice. All the practice we had good cross-border bonding different taste. and the drive made it happen. and made friends with the Regional teams that we met. It was an amazing experience. Tit-bits we caught between PEB: Anything else of playing at SCB the conversation that you would like to share? Avi: Firstly I would like to express my Born in: Kathmandu, Nepal sincere gratitude to our Management Siblings: He’s got an elder brother Team for promoting extra curricular Zodiac sign: Gemini (born 22nd May) activities in the bank. This certainly helps Resides now: At Battisputali Favorite football team: Manchester United (not Liverpool!!!) Live by the motto: “One day your life will flash before your eyes. Make sure it's worth watching”

www.standardchartered.com/np 17 BOOK REVIEW

April Fool’s Day by Bryce Courtenay

An extraordinary true story of the healing routine transfusions that Damon contracts power of love. AIDS. He struggled with both these illnesses until April Fool’s Day 1991 when at the age In the end, love is more important than of 24 he passes away. In this tribute to his everything and it will conquer and overcome son, Bryce Courtenay lays bare the suffering anything. behind this young man’s life. Damon’s story is one of lifelong struggle, his love for Celeste, A testimony to the power of love, April Fool’s the compassion of family, and a fight to the Matina Maharjan Day is also about understanding: how when end for integrity. we confront our worst, we can become our Financial Markets best. It is hard not to become attached to this book. Damon was a young man in his twenties who I was lying in bed with my leg fractured and wanted to live life recklessly and live it to its my sister gave me this book to read. She said fullest but was held back. Despite the acute it was the only book she had read that has and never-ending pain he was, I believe, very made her cry out loud. So I curled up in my strong, stronger than most of the people bed in my tiny dorm room and read for what I’ve met or heard of, because he didn’t want felt like a week straight (not a long book but anyone to pity him for his illness. He tried it is an emotional journey) until I emerged red everything he could to lead a normal life and eyed and grateful. has made me aware that nothing in this world is more important than health and thus we At an early age Damon Courtenay is should treasure every single minute in diagnosed with hemophilia a disease that our lives. prevents his blood from clotting. After living with this illness for many years through routine This life –affirming book changed the way blood transfusions, it is during one of these I think.

Where broken glass floats by Chanrithy Him

Set in Cambodia during Pol Pot’s torturous siblings run to Thai border, to a refugee camp regime ‘ Where broken glass floats’ written by in Thailand and finally to USA in 1981. Chanrithy Him is a harrowing account of an author and her family’s ordeal with the ‘killing The events, hardship described by Charinthv fields’. Event unfolds with Chanrithy’s memory are all too vivid and often heart wrenching - of a war when the author was just three years the scene where her mother sees a stranger old in 1968. Day after the seize of Phnom wearing her husband’s shirt and when Penh in 1975 by Khmer Rouge, Chanrithy’s confronted is told that her husband along Shabnam Limbu family are ordered to leave their house to an with other men were first made to dig their unknown village on foot. Along the way they own graves and were later executed with Operational Risk – encounter millions of Cambodians with same hoes! Or the time when Charinthy is told that Wholesale Banking fate on exodus to unknown villages. Millions of her mother was pushed to a well for being Cambodians mainly city dwellers irrespective too weak to work. It is also a book of family of their professions are made to toil on fields values. Despite of all the inhuman conditions, to improve productivity. Men are soon whisked mothers struggle to keep families together, away to so called ‘orientation’ by Khmer who go hungry on days end so that the Rouge only to be executed. Chanrithy’s family children could eat - Charinthy in her naivety along with million other families are forced to often wonders how her mother is never do laborer’s work living in makeshift huts in hungry! The events alone don’t make books the forest, often with sky as their only roof and memorable; it’s the lucid language Charinthy herbs, grass and caterpillars as food. Even uses that and manages to leave indelible the children are not spared; they are made to prints in the mind forever. Many a times in the work from dawn to night fall on paddy fields book Charinthy comes across as an angry for just handful of unhusked rice which is teenager confused with the radical changes never enough, thus creating various diseases brought by near starvation, hard work, loss of on both children and adults resulting in million parents and sister in quick succession. Yet she deaths. Apart from natural deaths, people are rises above all this to become a researcher also executed for not following simple orders, on Khmer Adolescent Project in US...... I cried witnessed by many, even author herself. Late with Charinthy’s each struggle and howled in 1978, Khmer Rouge starts to lose control aloud with her escape to safety - this review is of Cambodia that’s when Chanrinthy and her a salutation to her indomitable spirit!

18 Panchatatwa BOOK REVIEW

Why I name these books and why I want you to read it? I am an avid reader; not in the sense of a prolific reader, but I tend to get voracious on some books and writers. Here, I shall refrain from mentioning inspirational books, since it is hard to find out what inspires an individual. Instead, I will name a few memorable books that have given me a distinct pleasure and tickled my fantasy.

Milan Pradhan Origination & The Day of the Triffids by John Wyndham Client Coverage

This is a classic chilling post-apocalyptic the human progress, development, and tale that really got me thinking a long time cooperation that we have all taken for granted during and after the reading. John Wyndham and built our lives upon. had initially awed me with his book, ‘The Chrysalids’, which had been my classroom With realistic undertones and thrilling plot read. I was delighted when I found out “The movements, this book is sure to give you day of the Triffids” was equally incredible. a release from your own miniscule capsule of ordinary life as you know it. It hurtles you Although the plot is totally imaginary down to the world where the entire human (ambulatory carnivorous plants wreaking race is endangered by sudden changes havoc in the world when suddenly everyone in the nature of things and where only few goes blind), it is a thought provoking book glimmers of hope remain for us to rise from describing human behavior on what-if the apocalypse. situations. Suddenly nonexistent become

The Children of Men by P. D. James

‘Don’t judge a book by its movie’ – I came future, and lets the reader imagine the world across this witty, muse-worthy comment in a out of the words in the book. This is precisely bookmark, and found much truth in it. the value addition you will get from the book; the character study is much deeper, and Quite a few of us must have watched the movie the major themes like despair, hope, are starring Clive Owen and Julian Moore, the expressed in a much glorious way. The book is portrayal of an unlikely, accidental hero who bare and unmerciful in treating the characters reluctantly ends up betting his life for a critical and the plot- so when we are left with just cause. In this movie adaptation, the director a tiny morsel of hope in the end, amidst all (Guillermo Del Toro) has done a fine job, but all bleakness, it looks so much glorious and we see here is one interpretation of the book. worth all the misery. Just like a candle in a dark room only highlights the best parts of the The book is so much more imaginative, room, the book, by being all bare and spare, somber, and chilling. It is much bolder in the allows us to marvel on wondrous things like way that it does not promise a Hollywood giving birth and cooperating to survive, which ending but just a lingering hope for mankind’s we have taken fully for granted.

THE WAY

As I take a walk on the beach Trying to figure out, the way I sensed myself I remember the way you look at me. Resembled something special within me. The way you capture smile on my face The one which gives a little pain, few words of Make me smirk for an entire day dilemma and immense happiness Breezes of wind passing by brings thousand Blessed with your love, I find myself complete Beats of love songs from a distance. With bond of flawlessness and perfection your silly jokes still help me to chuckle up Renuka Silwal and your favorite song still makes me shed tears You are the one who gives true meaning to my life The one who taught me to believe, Financial Markets To eradicate these thoughts around Love is more about ‘we’ rather than’ I’ Operations I grab my whiskey that tasted so fine last night; Completing each other and growing old the oldest one on the shelf together till the end of breath by keeping dreams alive Far behind, I was in a mission to hate you You have flourished my presence in this world But one careless sip and I wished Thank you Dear, for being my guiding star. to die in your arms forever www.standardchartered.com/np 19 MOMENTS

Giving people, the gift of sight- Seeing is Believing

Eye camps As in the past few years, Standard Chartered bank partnered with Tilganga Eye Centre (TEC) for sponsoring 700 cataract surgeries from the period of October 2009 to July 2010. In line with this, eye camps were organized in different parts of Nepal, namely Chapagaun, Bhairawa, Butwal and Birgunj.

Till date, 4260 cataract surgeries have been performed with 64 more patients Butwal, Bhairahawa, Narayanghat, Hetauda, Birgunj Branch gettogether identified during the Chapagaun camp Eye camp-Patients identified for Surgery held on 24th October 2009.

Exhibition- World Sight Day To mark the World Sight Day, Standard Chartered Nepal Community Partnership Forum organized an exhibition/sale of handicraft products produced by the visually impaired people of Technical and Skill Development Centre for Blind and Disabled at Naya Baneswor Branch on 8th October 2009. It was SCB MOMENTS a hugely successful event. The bank staff showcased great enthusiasm to encourage and appreciate the effort and skill of those visually impaired people.

Vitamin A Capsule Distribution program SCB Group funded the Vitamin A Capsule (VAC) distribution program in the Kathmandu Valley, the first round was on 19th-20th April with the second on 2nd -3rd November 2009. Group funding for the Program was channeled through Helen Keller World Environment Day International – Nepal (HKI/N). Going Green Blood Donation On the occasion of World Environment day, various programs were organized like solar energy exhibition, vehicle Give Blood, Give Life de-carbonizing, staffs holding placards with environmental A Blood Donation Camp was Held messages at the Bank’s entrance, and car pooling. Staff on 24th January with the technical indicted their support to the cause by wearing green on this assistance from Nepal Red Cross day, cycling and walking to office. Society, Blood Transfusion Centre. There was an active participation from Also, Greenery project was successfully conducted at Lalitpur our customers and staff. Around 50 with plantation of 80 saplings by featuring prominent branding Vitamin A Distribution individuals donated their blood. for the Bank along the footpath of Pulchowk.

20 Panchatatwa MOMENTS

International Women’s Day The 99th International Women’s Day was celebrated with great zeal and enthusiasm throughout the week. In order to celebrate womanhood and rejuvenate their spirit, the D&I committee in partnership with VLCC group conducted a beauty workshop for the lady staff on 4th march 2009. A skin analysis session was held for each interested individual, followed by a demo on party make-over and chemical peeling session.

Mithila Handicraft Exhibition sale was also held on 6th March 2009. The exhibition, in true sense, was able to promote one of the most traditional forms of Nepalese art and highlighted the skill of this group of women. The colorful photo frames, pen-holders, mirrors and posters were a great hit among the staff.

Celebrations also included distribution of photo frames to all ladies staff by our male colleagues at the Bank and a write up contest. International Women’s Day

Extending Helping Hands • Following the recent outbreak of diarrohea in the country, the Bank joined hands with the leading media house -APCA Group under the initiative ‘Annapurna Post – Sahayogi haat haru’ for collection of funds to run health camps in the afflicted region. A cheque SCB MOMENTS amounting to Rs. 201,000/- was handed to APCA Group.

• Standard Chartered Nepal Community Partnership Forum (SCNCPF) entered into an agreement with the Shakti Milan Samaj, an NGO run by the People Living with HIV, to provide support for organizing activities/events to the benefit of People LwHIV. Save the Children will be driving this initiative. Tree Plantation International Women’s Day Exhibition • CEO distributed scholarships to Soaltee Crowne Plaza- Super the tournament and regarded as a strong 15 deserving students of Shree Sixes ‘2009’ contender for the title. But unfortunately, Mahendra Shanti School under the With the theme “All Play, No Work” Soaltee this year too, in spite of best effort, we were VISCOSS scholarship programme Crowne Plaza (a reputed five star hotel of not able to grab the title. Nevertheless, we for the eight consecutive years. Nepal) has been organizing this event since had our moment of pride as well when our 2001. It has been a dream for every corporate in-house participant, Avinash Chettri was • SCNCPF facilitated a skill learning house to lift this trophy and add their name named the Best batsmen of the Tournament. training to the residents of Karuna in winners hall of fame. This year’s event Bhawan, a shelter home for HIV started on October 6th -2009. Participation Soaltee Crowne Plaza- Super Sixes “2009” infected women and children, so came from 24 corporate houses, 15 of which was all in all a very successful event as to enable them with economic were Banks. Standard Chartered Bank Nepal that enlivened team spirit among all the independence. being three time finalist on previous years participants and strengthened friendliness was considered one of most favorite team in among the corporate houses. www.standardchartered.com/np 21 EXPERIENCE

A Peep into MBC & ABC Trek

Day 1: with puffs of clouds surrounding this After a two-hour exciting ride from magnificent creation of nature. Pokhara to Nayapool, the five of us set for, what we now call, trip of a lifetime. Day 3: The first destination after 4-5 hrs walk Next day, we passed Dovan Himalaya, from Nayapool was Ghandruk. Deurali and reached Machhapuchre Base Camp (MBC). The climate of MBC was With T-shirts soaked with sweat pretty startling. For once, one could get and dragging tired legs, we reached a clear view of the mountain and the very Ghandruk at 7 pm. Ghandruk- why did next moment, clouds engulfed the giant we choose to come here when general creation. This hide and seek of nature Anoop Shrestha people would identify more with places continued for the whole day, making our Customer Support Unit like Darjeeling for a visit? Well, the fact walk even more interesting. Our intention (CSU), CB is we are missing out on our national was to get the morning view of the natural heritages which lie in close Annapurna range. So we rested our soul Lunching in the lap of Machhapuchre, proximity to us - and this we realized for an early morning walk the next day. rejoicing in front of Annapurna, who after setting a foot in the picturesque can possibly forget these magical Ghandruk. Day 4: moments? Surely we will not. But for We began our move towards the people who have not been to these Day 2: Annapurna Base Camp (ABC) at around places, are surely missing out on the Few sips of tea and the absorbing 5:30 am. We saw new vistas of colors adrenaline rush. One visit and you are view of Machhapuchre and South every time we looked at the mountain certain to realize that heaven is right Annapurna- the fascinating sight range. This range comprises of many here on earth. People from around made us realize how beautiful Nepal Himalayas-Annapurna-I, Annapurna the world come all the way to visit is. After Ghandruk, we trekked through South, Machhapuchre, Barachuli and a these Himalaya whereas we, the Kimrangdada, Chhomrang, Sinuwa, few others. After spending some valuable natives of this beautiful country dream and Kuldigarh. Machhapuchre from time at ABC, we got back to MBC. of holiday trip to foreign lands. Kimrangdada was even more fascinating Our trip showed us just a fraction of Nepal’s beauty; we intend to discover more!

Care: MBC and ABC are both located at high altitude, and therefore, altitude sickness is highly probable. Medicine and other safety accessories like bandages and medical ointments are must-haves. It is always advisable to travel light unless you decide to take porter service. A handy camera and a portable torch can be very well included as well.

Cheers to: Anthony, Amar, Prabin, Suraj Maharjan and myself on successful completion of this memorable trek to MBC and ABC.

22 Panchatatwa ARTICLE

Keynesian Stroke in the 21st Century ltdL Ashutosh Mani Dixit Kamal Mani Regmi Shared Distribution, Lazimpat Credit Risk Control

If you are a student of Economics, you capitalist economies and an end to hopes ltdL Ps km"n might have gone through the theory by that booms no longer culminated in ;hfpm eGy] ltdLnfO{ John Maynard Keynes “The General busts. If we observe deeply we can see Theory of Employment, Interest, and that this economic downturn has brought udnf d} e/L Money.” Here he pointed out that in a Keynesian theory of economics in the light. /fvF' eGy] ltdlnfO{ . downturn, an economy simultaneously Rather than “letting the market work,” the has idle factories, unemployed workers government was aggressive in trying to and too little spending. This creates the stabilize the financial system—violating a ;fRr} km"n b]Vbf possibility of a virtuous circle: getting key precept of neo-liberalism that state d]/f kfkL gog people to spend more will put the factories intervention is harmful to the economy. ltdL lt/} e'nL back to work, staffed by the previously US Government made an intervention unemployed workers. Keynes believed to tackle the financial crisis and after axnfpg yfn] . that active government intervention in consensus of Government bodies a series the marketplace was the only method of of major bailouts followed (Starting on ensuring economic growth and stability. September 7 with the announcement that ghfp eGy] km]/L He held essentially that insufficient demand the U.S. government was to nationalize dfGg} 5f]l8 uP causes unemployment and that excessive the two firms which oversaw most of the dfGy] klg lsg demand results in inflation; government U.S. mortgage market—Fannie Mae and should therefore manipulate the level of Freddie Mac). km"n b]lv ltDnfO{ . aggregate demand by adjusting levels of government expenditure and taxation. This portrayed that the greater the role of km"n ;/L ltdL For example- to avoid depression, finance in the modern economy, the more Keynes advocates increased government unstable the economy is likely to be; and km'Ng ;Dd km'Nof} spending and Easy Money, resulting in a key role of the state is, therefore, to find b'O{ rf/ lbgsf] /ldt more investment, higher employment ways to build trust by creating greater eP5f} lg ltdL . operating and increased consumer stability. What we need to understand is spending. Put it another way, in the short Keynes did not advocate a single policy run, when the economy is below its valid for all times and all circumstances, udnf 7fGy] dgnfO{ potential, expanding demand can such as deficit financing. But there are create supply. times when there is this conscious attempt kfgL l/lQ u}5 from government by lowering tax rates km"n hfU5 eGy] Unfortunately, later on 1970s economist or increasing expenditure to overcome la?jf dfgL ltdLnfO{ . like Milton Friedman and others who uncertainty inherent in economic affairs were less optimistic about the ability and experiment the best ways to stabilize of interventionist government policy the economy in the circumstances. We /f]Kg vf]h]F bf]xf]¥ofO{ to positively regulate the economy have witnessed that stroke of Keynesian udn} Kjfn eof] suppressed his theory. Whereas in 2008, theory, which helped to recover from the with the advent of the global financial Great Depression, is once again played in 6fn6'n ug{ vf]h]F crisis, there prompted a resurgence of the twenty first century during 2008/2009 ToxL g} km'6LF uof] . interest in Keynesian economics among showing the breadth of his interest and policy makers. This year brought a the subtlety of his thought for modern reminder of the volatility and fragility of economy.

www.standardchartered.com/np 23 PHOTO FEATURE

Through the Lenses

Flower Macro Camera: Sony DSC - H2 Ankit Chitrakar Focal length: 12 mm Credit Risk Control (CRC) Sensitivity: ISO 80 1 Exposure time: 1/1000 sec Year of photo taken: 2007

Photography is a medium to express the truth visually. Photography must mirror the changes

Way to Muktinath that we mortals often Camera: Minolta a3 SLR Focal length: Unknown Sensitivity: ISO 200 2 Exposure time: Unknown ignore to notice, be Year of photo taken: 2000 it a change in a life of an individual, or the society or the nation. In essence, photography is everything that is the

Sparrow shielding itself from the rain truth to me. Camera: Sony DSC - H2 Focal length: 72 mm Sensitivity: ISO 320 3 Exposure time: 1/20 sec Year of photo taken: 2007 24 Panchatatwa PHOTO FEATURE

Cloud formation at the top of Ama Dablam Camera: Nikon D70 Focal length: 24 mm Sensitivity: ISO 400 4 Exposure time: 1/180 sec Year of photo taken: 2006

Way to Muktinath Camera: Minolta a3 SLR Focal length: Unknown Sensitivity: ISO 200 5 Exposure time: Unknown Year of photo taken: 2000

Evening at Boudha Stupa Camera: Sony DSC - H2 Focal length: 6 mm Sensitivity: ISO 80 6 Exposure time: 1/1000 sec Year of photo taken: 2007

Curious ants on a flower Water drops on the bowl full of water Camera: Sony DSC - H2 Camera: Canon EOS 500D Focal length: 16 mm Focal length: 50 mm Sensitivity: ISO 125 Sensitivity: ISO 100 7 Exposure time: 1/100 sec 8 Exposure time: 1/60 sec Year of photo taken: 2008 Year of photo taken: 2009

www.standardchartered.com/np 25 TRAVEL EXPERIENCE

Langtang Trek A New Experience

In the past few years, I have been quite mountain. It also houses Chilime fortunate to travel around many different Hydropower Project, which is a peak places of Nepal. It has been an absolute run of river type with a total installed delight to have had the experience of capacity of 22 MW and established trekking in the major routes of the famed under private-public partnership. Annapurna Region circuit. Few months back, when I had shared my strong After early breakfast next morning, desire to do a trek in the Langtang we headed for a long uphill trek Region of Nepal during one of the with the target in mind to reach to family get-togethers, I soon discovered our final destination-Kyangin Valley Anish Dixit that there were already fifteen other (3900M). The trail from Syafrubensi Origination & Client Coverage enthusiastic souls joining hands together gained elevation as we made our for the planned trip. My happiness knew way towards north to a suspension no bounds. Bigger the group, the better bridge over the Bhotekoshi River would be the fun. and further along the Langtang River, first through forest of oak and We started our trek the next day after rhododendron and then bamboo Dashami. We took a jeep ride from forests on the higher reaches of the Kathmandu early morning and reached trail. We were told by locals that few Trisuli bazaar in less than three hours. of them had seen Red Pandas and After a light lunch and bit of bumpy ride, Snow Leopard in the forest, although we reached Dhunche (1764M). Dhunche we considered ourselves lucky to is the capital of Rasuwa District located have seen at least langur monkeys. in the Bagmati Zone of Nepal. Further After 7 hours of trek, we reached My happiness knew down from Dhunche and at 4 PM in Changtang (2470M), popularly the evening same day, we reached known as the Lama Hotel. The place no bounds. Bigger Syafrubensi (1460M); the starting point is located at the foothills of high of our trek. This is an interesting village Himalayas with sound of the nearby the group, the better where Bhotekoshi River flowing from Langtang River, provided a soothing Tibet meets with the Langtang River experience and respite from the mild would be the fun. from the north of Langtang Lirung tiredness. Hoteliers were quite adept

26 Panchatatwa TRAVEL EXPERIENCE

KNOW BEFORE YOU GO

Places Covered by the Trip: Dhunche/Lama Highlights of the Trip: Tibetan Hotel/Langtang Village/Kyangin Gompa village in Langtang/Amazing views of Langtang Ri and Ganesh Himal/ Min/Max Altitude: 1950m/5122m Ascend Chorkari Ri (5050m)/ Panoramic view of 10 peaks that are Trekking Grade: Moderate to Fairly strenuous over 6000m/spectacular view of the ice fluted Gyanghempo/Crossing the Trek Duration: Around 8 days Ganjala Pass (5122m)/Helambu Valley

with food and taste of the visitors and critically acclaimed documentary which the towering hills but all our excitement were run much like a family business- featured their odyssey in search of the was killed by torrential rain which was wife and husband taking charge of most village where the popular folk song lashing the valley from mid-night. In the of the things such as cooking, cleaning Bhenda ko Oon Jasto originated. As morning, despite the overcast conditions etc and supported by their children for was described in the documentary, most and morning drizzle, we saw nearby hills support services such as serving meals, of the people in the region are Tamangs covered with snow provided a beautiful etc. Foods served in most of the hotels whose culture, religion and language spectacle. With the combination of were staple Nepali food-dal, bhat tarkari. are very much identical to that of people grazing yaks in the lush green pastures It gets more expensive as you ascend, living in Tibet. In the evening, we went and fluttering prayer flags atop small which we realized later. together to a nearby cheese factory hotels, it was an amazing sight and a and observed the traditional cheesing mind boggling experience to regale. It Next day, we continued to ascend making process. We also bought few was beyond description! and reached Ghoda Tabela (3000M) kilos of Yak Cheese at reasonable price in the afternoon. We used garlic with with combined feeling of excitement and After breakfast and amidst morning great effect to kill few signs of altitude achievement. drizzle, we descended to the Langtang sickness during the course of our entire valley and joined three of our friends, who trek. But the best preventive measure Early morning next day, we headed had preferred to stay back with signs was consumption of water, before and for Kyangin Gompa (3900M)-our of altitude sickness. Around 11 AM, we during the upward hill climb. The route final frontier. The place is a tiny valley headed for our next destination-Lama from Lama Hotel to Ghoda Tabela was surrounded by mountains and is located Hotel and reached the place at around just fantastic. It felt like walking in the at the foothill of Mt. Langtang Lirung 5.30 PM in the evening. After joyous woods as described in fairy tales. As (7252M). It provided spectacular 360 overnight gatherings over the dinner, we we walked on the trail, we met many degree view of the mountains. It is one reached back to Syafrubensi around 2.30 foreigners as well as Nepalese with of the very few places in Nepal where PM in the afternoon next day. As two of whom we exchanged Namaste and mountains can be seen in the south us from the group had made fast paced smiles. After some rest, we trekked direction. It is quite similar to Annapurna descend to Syafrubensi, we mustered further and entered into the open Base Camp (ABC) of Annapurna some more energy and utilized the time Langtang National Park surrounded by Region. The lowest peak seen from the for a quick stopover at Chilime Hydro high hills and beautiful greeneries and valley is Tsergo RI (4985M) from where Power plant. After a much needed sleep further three hours of easy trek led us the adventurers can enjoy a breathtaking overnight, we reached Kathmandu next to a large settlement of Langtang Valley sight of the Ganesh Himal, Lantang day in the afternoon. (3400M). The weather was perfect Lirung, Langtang Lirung II, Yala Peak and evening sun was about to set and Ganja La. It appeared as if a trek In hindsight, Langtang trek was an in. The crimson light peeped through from Kyangin to Tsergo RI would be amazing experience which allowed the Langtang Lirung Mountain which moderate but we opted to relax in the me to observe breathtaking sceneries, provided a feel of celestial surrounding valley amidst good comfort of hospitable good contact with local people and the resonating between dream and reality. local people. Two of us planned to opportunity to explore unique cultures. With beautiful landscapes and pretty do further two and half hours trek to More so, trekking at high altitude with tiny villages, it was no doubt a popular ascend Kyangin RI hill (4770M) early like-minded people and in large group trekking destination. One of the famous next morning in anticipation for a more is altogether a different experience Nepali musical band-Nepathya had glorious view of the morning mountain especially if the tour is meticulously captured this place beautifully in their range and also the sunrise between planned.

www.standardchartered.com/np 27 EXPRESSIONS MJ:LIVING MY DREAM

I always thought I can hide my emotions but for transforming the music video into an art somehow expressive face is what I naturally form and a promotional tool—helped bring got, hence it’s always been very tough to the relatively new channel to fame. Videos hide my emotions from anyone. Everyone such as "Black or White" and "Scream" made always seems to notice what feeling I am Jackson an enduring staple on MTV in the contained by. 1990s. With stage performances and music videos, Jackson popularized a number of That day I walked to my workstation and very physically complicated dance techniques, likely everyone asked if something was wrong such as the robot and the moonwalk. with me. I smiled weakly and said “MJ is no His distinctive musical sound and vocal more”! I was horrified to see that everyone Lishu Parajuli style influenced many hip hop, pop and burst into laughter. Did it not matter to them contemporary R&B artists. Card Operations that The King of Pop, my favorite artist was dead? I felt hopeless after that. I kept listening One of the few artists to have been to the updates on radio about him that day. inducted into the Rock and Roll Hall of Fame twice, his other achievements include multiple Guinness World Michael Joseph Jackson, the 50-year-old singer, dancer Records—including one for "Most Successful Entertainer of All and songwriter became famous as a child in the 1970s while Time"—13 Grammy Awards, 13 number one singles in his solo performing with his brothers in a pop group known as The career—more than any other artist in the Hot 100 era—and Jackson Five. He then went on to a solo career that spawned the sales of over 750 million albums worldwide. Cited as one dozens of hits and pioneered the of the world's most famous men, music video genre. Referred to as the I listen to them every now Jackson's highly publicized personal "King of Pop”, five of his solo studio and then; sometimes I even life, coupled with his successful albums are among the world's best- career, made him a part of popular selling records: Off the Wall (1979), try the moonwalk. culture for almost four decades. Thriller (1982), Bad (1987), Dangerous (1991) and History (1995). May be MJ was living my dream, so I was awfully hurt to know about his early demise. I have collected all my favorite In the early 1980s, he became a dominant figure in popular songs and videos of him. I listen to them every now and music and the first African-American entertainer to amass a then; sometimes I even try the moonwalk. Sad but true, he strong crossover following on MTV. The popularity of his music is no longer with us and this write up is the only tribute I can videos, such as "Beat It", "Billie Jean" and “Thriller”—credited offer him.

RAIN

Only rain exists up to the horizon Contemplating With its falling in ancient rhythm & sound A few crows wet & helpless So many days have passed In the roof Kamala Shrestha Still so young How easily the rain remains equal Credit Risk Control The children playing with a ball in the field With them all Or the young girl taking bath in the rain Rain, the pre-historic friend of mine. An old man looking through the window

28 28 Panchatatwa Panchatatwa EXPRESSIONS

Shayna- Meaning “The Beautiful” Sangita Shrestha Bestowed In Our Life Operational Risk – CB

I cherish the glorious day – August 7, 2008, when our choru ‘Shayna” – entered in our life. I take the pleasure to share this moment of blessing with you all whole heartedly. However, with relentless prayers toward me wrapped in a beautiful and much hope, the result came red cloth. The visits to the doctors out positive on the test day. I felt contributed to several episodes overwhelmed and my heartbeats The moment I saw her, tears rolled of unfruitful treatments. I still recall felt like someone was knocking down my cheeks. After the long that day when I visited the hospital at me saying ‘I am coming soon desperation and prayers I could for another regular check up and to your world’. finally hold my baby- my life in my consultation with very little hope arms. Seeing her made me live and a heavy heart. It was a good Without much delay, I set out to even more. day though as the Gynecologist get it re-confirmed. The doctor, rendered an inspirational reluctant before making any My morning starts with her counseling, with a hope for a child, comment, thoroughly checked celestial smile, the love I feel for her My morning in form of an Advance Treatment. and finally asked me to smile – delightfully continues with changing starts with yes this was the final confirmation her night dress, combing her soft On for 3rd Dec 2007 and with a of test- It was Positive! hair, feeding her food and taking her celestial pray and blessing from all beloved, her out for fresh air. Her lovely smile, the love I entered Operation Theater (OT) I was the happiest person in the sounds as “ma, ma’, “papa”,” tatai’ with heart full of hopes. Slowly when world. I immediately picked up is a rhythm which accompanies I feel for her I opened my eyes I saw myself in my mobile and conveyed the our hearts all along. delightfully ICU – post operation, my whole good news to my family. Later continues family was standing beside me with that night we celebrated with a My day ends seeing her fall asleep smiles and support. Soon after, I was small family get together. in her small soft bed with her tiny with changing discharged and was advised to take hands and feet cuddled up. I could her night a complete bed rest. The day was fixed. On 7th not have asked for more from the August 2008, I was taken out almighty. My heart thanks him dress, Days of mixed emotions were of the OT and transferred to the everyday for the wonderful blessing combing passing by at a very slow pace and Post Operative Unit. Surprisingly of motherhood. I also express her soft hair, finally the day came when I had to I did not feel any pain due to the gratitude to my husband and other visit the hospital for a pregnancy overwhelming emotion of being family members who always stood feeding her test. Out of curiosity and a mother. I was not allowed to by me and also to the organization food and impatience, I took a domestic strip see my daughter till mid night which supported me in this crucial test two days prior to the test date as she was kept in an incubator. period. I wish that others who are taking her out with negative results which added However, after much pleading, yet to relish this experience are for fresh air. on to my worries and sorrow. I saw my husband bringing her endowed with this God’s blessing.

www.standardchartered.com/np 29 ARTICLE

S H A R I N G Best Practices

My first job as a college accountant cum hostess, new customer, how can we student was of a hostess in two Muslim- Nigerian Chefs manage the inventories and IHOP – International House from my economics class, extra flow of the customers, of Pancakes in Edmond one African American Chef, the turnaround time (TAT) Oklahoma. IHOP is a chain one Japanese girl- a fresher, for each table, key words to of breakfast restaurant in two American servers- address the customer, staff Midwest; just like Pizza Hut one among them was my irregularities if any due to or McDonalds that we are colleague from American exams or extra classes. The familiar with. It is run by the History class, one Iranian table bottom line would be how to students there. That is, by buster- the fun loving person provide excellent service to Samridhi R.L. Rana the students, to the students from my calculus class, one the customer so that we can Consumer Banking – Credit and for the students. Spanish janitor and one beat the nearby breakfast American-Indian driver. It was hubs each day. At the end of The day Just like the Town hall truly an international joint. the day, all of us sat together meetings we have here and had fun discussing the started with in SCB, we used to have So how did we do so well? numbers and converting into monthly briefings on the The day started with our respective countries’ brainstorming overall performance of the brainstorming session where local currencies. chain. Interestingly this small we had strategies on how to session where breakfast joint made almost make each day a success. The Chefs earned highest USD 5 Million per year. Just like a basketball coach, hourly wages, almost USD we had strategies Aaron would draw on a 20 and so did the janitor, The amazing thing in terms piece of paper; who would ensuring they would not miss on how to make of efficiency was that we run the show in the front, a day of work. But what paid were just eleven people who would work on different off most, was the efforts each day a running the show. Aaron, shifts, what would be the put by the least paid hourly my chemistry colleague was special of the day, how workers which included the success. the manager; myself, the much discounts to offer for servers, hostess and the

FOR CONFESSION Glittering eyes ignite me You admirer...! How lucky Addled addict finds arduous. Did touch her malleable hand. Alluring face tempts Uncanny aroma in the air Anyone fancy to surrender. A victim exhorting to persist. Sushant Joshi Escort wishes those reticent lips utter Present is zealous harmony Shared Distribution – Naya Baneshwor In the name of elegiac person. Mind timid, provoked...! for confession.

30 Panchatatwa ARTICLE

manager. In 2001, as per the local would work on the inventory and law, the servers made only USD run checklist for deliveries and TEARS three dollars and fifteen cents an pick ups, at 7 am brainstorm Anju Sharma hour plus tips. In the plus tips, strategies, at noon would see Head – Consumer Banking each of us ensured to get what we him busting the tables for the wanted e.g. a new laptop in two waiters, at 7 pm, would help me weeks time, a car in two months, seat the customers and at 1 a.m. or that special one-week vacation he would check the bathrooms I see you lying in Hawaii from the few months for cleanliness. Throughout the And it does not matter in what state savings. day, he would try learning all the I smile to myself international languages so he Whilst the rest are in tears What we were serving at IHOP can address each of us better. was not just plain pancakes but Without his leadership skills and Your wisdom rings in my ears great environment leading to great passion for work, we would have So does your laughter and wit service. Lucy, the Japanese Server sought greener pastures early on. I feel your warm breath delighted our dear customers so And the safety of your arms well that the locals brought their Last but not the least, knowing kids not just to see her but watch our customers and providing Discussions are held and learn her etiquettes. Lucy’s customized service to each With lots of debate American counterparts Amy and person led to better service A unique life you led Ronny were so energetic that and ultimately more money in And a unique bed you shall get between two of them they could our pockets. Thanks to the local easily manage the 80-seater hub staff, we started saying “How dee Wrapped in a traditional sheet without a winch. During daytime, ma’aaam” or “How r ya”, instead Your body will be taken as per your wish as the hostess, I not only directed of “Hello, how are you?”. We Where you shall be dropped the customers to their seats started feeding compliments to the So that your body can be studied but promoted new items like rich old oil magnates of Midwest Pot Stickers (Americanized beef and feeding extra compliments Service to others and your belief momos) and enjoyed most hours to the horizontally challenged or That nothing should go to waste crayoning with the little children that “colored” communities. We greeted Has taken you to your abode parents brought along. Mr. Samuel, customer by the name, their In a radical mode the janitor was our best buddy. likes and dislikes, and did simple He cleaned floors and busted things like sending birthday cards. Regardless of what I say the tables furthermore was the We dined with the homeless on You were the force in my life shoulder at times of grief too. The Christmas to promote social and Your frail body may have been like a twig chefs were fast furious and loco. ensured special seats and rates for But for me that was the biggest anchor They were definitely loco or crazy elderly, kids and the specially-abled. because I sometimes found them I held on to you cooking eight different omelets with In conclusion, whether it’s a And your beliefs & wisdom kept me going one hand and a stack of twenty small restaurant or a big bank Now that the fact has dawned on me pancakes with another. They were like ours, the basics of business, I ask myself how I will go on there at three in the morning baking profits and earning happiness the pies and breads; even at does not differ. The formula for My grief is personal & I cannot share midnight inventing new mock-tails, success begins with great team Words of comfort do not matter to me and at four in the evening rolling out having great strategy guided with Yet tears refuse to come their prayer mats and pray, portraying great management, with focus And once more I feel betrayed awesome Islamic culture. on building profitable customer relationships. I believe that my The End Aaron (The manager) was a person readers can relate my experience who worked twice as hard as with their own and put into Composed on: 12 July, 2001 anybody and at 3 a.m. would practice for betterment double as the baker, at 6 a.m. of organization.

www.standardchartered.com/np 31 EXPERIENCE

The Story of the Homeless, our National Programs and My Heart’s Happiness

After parking my car at the Prasuti Griha (The National Maternity Hospital) parking lot, I headed towards the slum area on the banks of the Bagmati river. Let me correct myself – not the slum area – the phrase sounds kind of derogatory in some sense. The temporary habitation, maybe? As I walked through the narrow lane of the temporary habitation, a rush of mixed emotions were running through Abhishek Shrestha my mind. Would I be robbed? Or even The narrow lane of the temporary habitation on the banks of Bagmati River Shared Distribution - UN Branch worse, stabbed and then robbed? Was I a lad too well-dressed to be hanging around that area? appropriate and respective actions. The children were also asked to sing the There were stray dogs – perhaps more national anthem, which they did with stray than the inhabitants themselves- much enthusiasm (and their running lazying around on the small porches noses!). After they were done, the The whole experience of the huts. I wondered if the four teacher asked them to sing it yet again legged friends got their regular meals, with strict instructions to “sing better this was an eye-opener considering the sorry state of their two time.” Maybe she wanted the children legged counterparts! to impress me – the guest- with their for me- to the reality singing skills! I had been informed at the volunteers’ of the homeless, orientation that the Vitamin A Capsules I asked the lady teacher if she had heard (VAC) would be distributed at a school from the local volunteer, Meena, who to the underrated in the locality. Finding the venue was was supposed to distribute VAC to the easier than blinking, considering there children between six months and five effectiveness of our was only one school in that area! The years of age. She informed me that kids had just finished lining up for their the Meena distributed VAC six months national programs usual morning assembly and exercise, back but that she hadn’t heard from her the small ones in the front followed this time. After making several calls at and finally to the by the big boys and girls at the back. the Nepali Technical Assistance Group The lady volunteer teacher shouted (NTAG) office – which provides technical things that really “ghuda phat” (“stand at ease”) and assistance in the country’s Vitamin A “satark” (“attention”) at which the Capsule program (VAC program) – make my heart happy. students promptly responded with the I finally managed to find out Meena’s

32 Panchatatwa EXPERIENCE sl7g eof] Madhab Regmi Legal, Compliance and Assurance

a8f] cK7\of/f] ;do cfof] hLjg rnfpg s7Lg eof] . ;+/Ifs s;/L aGg] ca ;+/lIftnfO{ arfpg s7Lg eof] . mobile number. When I called her, I was By that time, I had already put my shocked to hear that she had apparently creativity to test by decorating the aflx/ hfg glbpF t lar/f dropped the idea of VAC distribution venue with whatever little posters I had 3/}leq y'lgg] eP . plan in her area this time since she could received from NTAG. Without wasting 3/d}F y'g] klg t s] not manage to get the capsules from the further time, we started distributing Kfx'gf agL cfpg]af6} pgLg] eP . local ward office this year. the VAC, with the number of children increasing by the minute. Everytime s:nfO{ kTofpg' ca nf} I then decided to go to the other Meena ji or I fed a child with a VAC ljZjf; s;}df ug]{ s7Lg eof] . distribution center on the other side of and the deworming pill (which is also cfˆg} dfG5] xf] eGof] t/ p;}af6 ;+/lIftnfO{ arfpg s7Lg eof] .

s:nfO{ eGg' / v} cleefjsn] ck/fwLs} t z/0f eof] . lkm/f}tL glbP/ s] ug'{ cfˆg} ;Gtfgsf] ckx/0f eof] .

ck/fwsf] klg wd{ x'G5 eGy] kTofpg} s7Lg eof] . lkm/f}tL ;f/f a'emfP klg ;+/lIftnfO{ arfpg s7Lg eof] . The children at the local school Distributing VAC and Deworming during their assembly time pills to the children s:tf] c;xfo 5f}F xfdL jf:tjdf xfdLnfO{ cfefif 5}g . the bridge to help. As I walked away distributed along with the VAC), I felt Tof] Joxf]g]{nfO{ x]/f}F t from there, a very strange feeling started a sense of satisfaction. The children dfly cfsf; tn hdLg 5}g . taking over my mind and held me back. seemed very excited to receive their dose, The thoughts started to stifle my legs. It as though they were receiving candies csf{sf] ;dfrf/sf] s'/f u5f}{F was then that I realized I actually started from us. 8'a]/ x]bf{ t af]Ng} s7Lg eof] . missing the children whom I’d seen at cfˆgf t 7Ls} 5g\ h:tf] nfU5 t/ the school. I thought to myself, “What We had been informed at the orientation ;+/lIftnfO{ arfpg s7Lg eof] . about these children? Did they deserve at NTAG office that the National Vitamin to be deprived of VAC and thus of good A Program of Nepal was one of the most xfdL s]xL ug{ ;Qm}gf} t health? Aren’t they already deprived successful ones in terms of its reach – the o:t} /dLt] dfq agL /xg]<< of lot many things in life?” I thought average reach being 98% of the targeted xfdL k:g kvL{ a:g] it would be selfish on my part to walk children (between the age bracket of 6 ck/fwLn] vfN6f] vgL /xg]<< away and be in a comfortable position months to 5 years). In the two days of to help in an area where the distribution volunteering we distributed 70+ capsules x/]s To:tf 36gfsf] lt/:sf/ u/f}F had already started. in the temporary habitation under the ck/fwLsf] alxisf/ u/f}F . Bagmati bridge alone and hence, the data g]n 7f]sf}F, xTs8L nufcf}F ;f/f ;dfh h'6fcf}F . So I made a few calls to the NTAG did not seem too stretched, anymore! ef]nL s;}n] em'lSsP/ klg glrtfcf];\ coordinators and requested them to send the capsules to the venue. I also The whole experience was an eye-opener To:tf] sf/jfxLsf] dfu p7fcf}F . requested Meena to come to the venue. for me- to the reality of the homeless, laGtL u/f}F eujfg\;Fu a? My efforts saw their fruition after about to the underrated effectiveness of our l3:ofP/, em'08\ofP/, kftf kmsf{P/ n}hfp k|e' 45 minutes when the capsules arrived national programs and finally to the ltd|f ;8] un]sf, lau|] eTs]sf, s'lxPsf uGxfPsf l;h{gfx? and so did Meena. things that really make my heart happy.

www.standardchartered.com/np 33 FEATURE

The Red Festival

Teej is the most celebrated festival puja is the oil lamp which should be for Hindu women in Nepal. It takes kept burning throughout the night for place in the month of August or early it is synonymous with the longevity of September for marital bliss, well-being their spouses’ lives. of spouse and children and purification of own body and soul. The festival is a TWO HOURS JOURNEY TO LIFE combination of feasts as well as rigid AND LIVING fasting. The day before Teej is called the And there we stood, glaring at our "Dar Khane Din". On this day women, destination. both married and unmarried, assemble Ibha Baidya at one place, dressed in their finest red On the occasion of Teej, the D&I Consumer Banking attires celebrate the festival with galore committee, organized a small gathering of dancing and singing of devotional at Karun Bhawan, a shelter for HIV The important part of songs. Grand feast takes place. The positive women and their children. feast often goes on till midnight, after Each one of us was elated to be part the puja is the oil lamp which the 24 - hour fast begins. of this team in whatever little ways which should be kept possible. However, as the destination The following day is for fasting. Some neared, all kinds of mixed feelings were burning throughout women stay without food and water running through our minds. We didn't while others take liquid and fruit as know whether to be happy for getting the night for it is per an individual’s wish. They dress involved in such a joyous philanthropic in red and visit Shiva-temple. The activity or feel bad because of the synonymous with Pashupatinath temple is flocked with background of people we were to devotees. The main puja is offered to meet. But amidst those mixed feeling, the longevity of their Shiva and Parbati, beseeching them to one thing was for sure—that this was shower their blessing upon the spouse going to be the most memorable two spouses’ lives. and family. The important part of the hours of our lives.

34 Panchatatwa FEATURE

TEEJ AT STANDARD CHARTERED As we entered the premise, the joy with Our two hours stay at Karuna BANK NEPAL which the children were clapping for us Bhawan definitely triggered change in made me, for once, forget the fact that our perspective towards life. It felt sad To celebrate the occasion, an initiative most of them were HIV positive and fighting to see kids as small as 5 to 6 years was undertaken to greet our priority for existence. The gifts were distributed, old have this dangerous disease. But banking women customers, as well as we danced to some Teej tunes- some of seeing them so unaware of the reality, Diva customers with boxes of sweets and the children performed a dance number enjoying chocolates, enjoying their bangles as a token of appreciation. This especially for us; we took some pictures lives made us forget the harsh reality warm and thoughtful gesture of ours was and were ready to bid adieu. It was for a moment. well received as many of them openly suddenly then that my heart went out to all expressed their happiness and gratitude those who must be fighting with the deadly We so often, take our lives for granted for a cause that even they took so much virus all alone. Those kids and women at and only upon certain mishaps, do to heart. least have a shelter to live in, the nuns to we realize its value. We all live with the care of them and a few visitors like us to objective of being happy; our lives are Needless to mention, the momentum of share some moments of happiness. But all different and yet the same. Life has “Dar” has been kept alive by our male what about hundreds of those, who have become so busy and complicated colleagues in the various branches and been dejected from their family and society that in between the tussle for our departments. Celebration spread over the and have nowhere to go? goals and ambitions, we tend to whole week beginning from 17th August. forget that there is still a thing called As in the previous years, our men religiously We see so many NGOs and INGOs set up life which has to be lived and enjoyed. and dutifully provided a feast of food and solely to work for the AIDS victims, but I truly sweets to celebrate Teej amongst the wonder how many are working honestly Thank you D&I Committee and women staff, making each one feel special for the cause. I am not sure if the number everyone at Karuna Bhawan, for and supported. of AIDS victims in Nepal is declining, but I giving us the opportunity to reinforce definitely know that in the name of these in us, the beauty of life and living. people, the numbers of Development Organisations have risen tremendously.

www.standardchartered.com/np 35 RESEARCH

The Dynamics of NC IC Exchange Rate

contiguous broad monetary variables. relevant in the context. The easy and The dynamics of the exchange rate is unlimited convertibility of the currencies, seen to be compatible with inflation the long and open Indo-Nepal border rates, interest rates and trade flows and the free movement of people stand between the two countries in the past prominent amidst those. Illustration 1 and is expected to follow the trend in the and illustration 2 depict the movement future as well. of nominal exchange rates and inflation rates respectively from 1972 – 2007 The crux of our analysis on NC-IC between Nepal and India. Average 1 exchange dynamics lies in subjecting year commercial deposit rates have its flow to three core theories central been taken as reference nominal interest Rabi Rayamajhi to international macroeconomics: The rates since it can be considered as the Financial Markets Operations relative Purchasing Power Parity (PPP), most basic form of investment available the Uncovered Interest Rate Parity at normal household level. Additionally, (UIRP) and the International Fisher Effect one year fixed deposit can be easily (IFE) theory. The relative PPP theory matched with annual inflation levels relates the inflation rate in a country to facilitate the calculation of average to the change in market interest rates. annual real rate of return. Meanwhile Nepal and India through decades have The exchange rate between countries Consumer Price Index (CPI) for Nepal shared common economic values adjusts to accommodate the difference and CPI – Industrial Workers (IW) for consistent with their geographical and in general price level between the India has been taken as benchmark socio cultural proximity. One distinct countries over time under PPP norms. inflation indicators for the two countries. facet of the Indo-Nepal economic Similarly, the UIRP equates the nominal The CPI indicators measure the average relation is the NC-IC exchange rate; the interest rates between two countries change in price of consumer goods and translator of economic fundamentals to the rate of change of their exchange services purchased by households. of one to the other and vice versa. rate. The theory predicts that high The importance of the NC-IC rate has yield currencies (in nominal terms) are Based on the illustrations, we can prevailed since long and especially expected to depreciate. Lastly, the observe that the nominal interest after the establishment of Nepal Rastra IFE establishes nominal interest rate rates for Nepal remained fairly higher Bank (NRB) with clear motives to put an as the sum of real interest rate and compared to India till the beginning official price tag on the Indian currency the rate of inflation, thereby indicating of the 1990’s after which interest that dominated the currency usage in that a real interest rate increase is rates were fully deregulated in Nepal. Nepal before the 1960’s.This importance positively correlated with appreciation Following the period, the nominal of the NC-IC rate gains momentum of a currency. Put simply, these parity interest rates went further down in even today as a de facto variable conditions advocate the equalization Nepal and remained relatively lower affecting the monetary stance of Nepal. of rate of return of financial assets than in India. The difference in the However, achieving the right and stable across countries to prevent arbitrage rates is seen to be widening especially rate has been a challenging task for the opportunities in the money and FX after 2000. Consistent with the general regulators. Though the official rate has markets. theory of UIRP, the NC rate has steadily been best kept at a peg since the last depreciated vis a vis the IC between five decades, it has seen adjustments The NC-IC translation has a number of 1970- 1990 when nominal rates were over time in response to changes in its features that makes the three theories high in Nepal. Ignoring the structural

36 Panchatatwa RESEARCH Illustration 1

14.00% 12.00% adjustments at the beginning of the after the year 2000/2003. Inflation level 10.00% 8.00% 1990’s that led to the devaluation of in Nepal is seen to be higher and at 6.00% the IC, the revised peg at 1.65 and an increasing trend compared to India 4.00% 1.60 from 1.68 in 1990/91 can be and nominal rates to have plunged 2.00% hypothesized to have sustained due to in significant proportions, causing t 0.00%

comparatively higher nominal rates in negative real interest rates after the 1972/19751976/19791980/19831984/19871988/19911992/19951996/19992000/20032004/2007 India after the period. period for Nepal. These movements Nepal Nominal India Nominal have created a notable variance Illustration 2 At the inflation front, CPI’s across the between the real interest rates between two countries have moved in tandem the two countries. However there has 16.00% 14.00% largely due to the fixed exchange rate been no correction in the exchange 12.00% regime. Between the 1980’s to the rates in line with the basic PPP and 10.00% 1990’s, the divergence between the two UIRP fundamentals. Studies made by 8.00% has been particularly significant against the Nepal Ratra Bank on the cause and 6.00% 4.00% Nepal’s favor and counterbalanced by a effects of NC IC rate adjustments in the 2.00% sharp depreciation of NC – a semblance past have specifically pointed interest 0.00% of the relative PPP theory at work, rates between Nepal and India to be a ceteris paribus. It can also be noted that governing variable in influencing the NC- 1972/19751976/19791980/19831984/19871988/19911992/19951996/19992000/20032004/2007 CPI-Nepal (l1) CPI-IW-India (l2) inflation in Nepal, though borrowed from IC exchange rate adjustment (Maskey, India remained comparatively lower than 2001). Another similar study made Illustration 3

India till 2004-2005 after which they are by the IMF concludes that monetary 8.00% at an increasing trend. The resultant of policy in Nepal can play only a limited 6.00% the two graphs is the real rate of return role in the long run to tame inflation 4.00% 2.00% graph shown in illustration 3 . The in Nepal given the open border and 0.00 combination follows the international pegged exchange rate regime (Ginting, -2.00% Fishers effect as follows 2007). The implications of these studies -4.00% supplemented by our observations, -6.00% -8.00% (1+N)= (1+R)(1+I) both historically and after 2000/2003

N ≈ R + I (approx) strongly suggests that the NC IC 1972/19751976/19791980/19831984/19871988/19911992/19951996/19992000/20032004/2007 Where pegged status at 1.6 is under severe Nepal-real rate India-real rate N= Nominal rate of return strain at current times. Additionally, Illustration 4 R= real rate of return and the soaring trade deficit with India 1.8 I= Inflation rate and the recently seen price shocks in 1.6 Nepal, completely decoupled with the 1.4 The real rate of return graph illustrates inflation rates are sure to support the 1.2 1 the IC NC dynamics more vividly devaluation of the NC. The leakages of 0.8 from the PPP and UIRP perspectives today’s “fundamentally non compatible 0.6 0.4 combined. The NC is seen to have NC IC exchange rate” have already 0.2 progressively depreciated against the been around the market in the form of 0 IC as the real interest rates in Nepal informal capital flight to India. These can 1972/19751976/19791980/19831984/19871988/19911992/19951996/19992000/20032004/2007 declined compared to the Indian rates. be expected to be visible even more as INR/NPR level Subsequently, The IC NC exchange equity markets in India revive after the Source: RBI database (rbi.org.in) remained at a level between 1.68- 1.60 recession and India is able to live up to NRB research division and NRB Quarterly economic bulletin for almost 25 years, the period from its continuous commitment of taming the later 1980’s to the early years of the domestic price levels. Note: All Illustrations are based on 4 year average figures new millennium. This period is also seen to be associated with the convergence On a final note it has to be admitted that the same over a long run. Given its of real rates of return between the the dynamics of the NC IC exchange limitations to directly intervene in the countries and can be interpreted rate is anything but simple. The rate money markets and tame domestic more as a “NC IC equilibrium era” as commands a prominent role in Nepal’s inflation levels, NRB is currently seen to convergence of real rates prevented macroeconomic policy due to which be left with very few cards to play with. capital mobility between the two NRB has often opted, lobbied and The adjustment in the IC NC rate is countries. worked for its stability. Nevertheless, hence an inevitable change the regulator economic fundamentals have to be has to welcome at the end of the game. Likewise, another distinct observation acknowledged and deviations have The only question in this regard is how can be made in all three illustrations to be timely addressed to achieve long is it going to last?

www.standardchartered.com/np 37 MISCELLANEOUS

UNEXPRESSED WORDS Sushil Gautam Consumer Banking – Credit

I wonder why sometimes Prayash Shrestha I feel there is something amiss Central Operations When there is everything I ever wanted Why is there vacuum in the abyss Why do hopes from cherished ones "Every time you Translate to discontent later? smile at someone, Or is the inability of the other it is an action of To comprehend greater love, a gift to that person, a beautiful A talk will lay buried thing." Words will remain unspoken -Mother Teresa Odd manifestations and Dismal smiles betoken As thoughts sometimes are Like undying blemishes When emotions divulge Only the world relishes Wounded is the one who hears Wounded is the one who says Silence comes by wisdom Walkathon 2009 Have heard the same always

So should true feelings die a slow death? 'A Walk for a Brighter Tomorrow' And sentiments lodge in the unknown? In an effort to support our community and SCB-Group’s Isn’t it then unfair to call it love when commitment, Walkathon 2009- “A Walk for a Brighter It is sorrow in the heart sown Tomorrow”, was successfully held on 21st November But kept hidden somewhere Expecting this too shall pass with great zeal and enthusiasm. Hoping things will change Collecting inside a grey amass This annual event is Standard Chartered Bank Nepal’s Which one day might explode flagship initiative to support visually challenged people With exasperation and tears and those living with HIV by means of raising fund in In willows doubt and question partnership with its stakeholders. Major portion of the Is what one fears fund so raised is contributed to the bank’s “Seeing is Believing” initiative and the rest to other focus areas So why is the other unwilling including HIV/AIDS, environment and education. To make way and understand The silent spasms each day More than 450 people including our bank staff, staff And lend a warm hand from our partnering organizations, visually challenged Then why let the talk lay buried students and people living with HIV-AIDS enthusiastically And why should words remain unspoken participated in a five- kilometer walk from our Head Emotions make a lot of noise Office to Lazimpat Branch as part of the event. Why lie when time is to be woken As compromises are like Among the special guests for the event were David A dissonance cove Thomas, Head-Country HR for Asia and Manish Menda, The more you judge Head-HR Service Delivery, South Asia. Is the less you love

38 Panchatatwa