Read | Perspective

Journey into the world of tractors – PTC training experience

Our three-day journey into the world of TAFE started in a vast area filled with mango trees, fields and muddy footpaths. There was so much greenery that it would probably hurt your eyes if you live in a concrete jungle. With gigantic wheels and an elephantine look, tractors are vehicles that none can miss while driving on roads or crossing through fields. I always wondered what it did, except the general idea that it is used in agricultural fields and could haul heavy weights. We were a group of six people, filled with curiosity and excitement, trying our best to figure out what learnings the training held for us. At the Kelambakam property, I witnessed one of the finest state-of-the-art training centres. There were different implements and tractor models on display, taking us to the bygone times of the 1960s. One may wonder how a rugged tractor training can happen in such a beautiful place.

Day one started with the introduction to what a tractor is, the types and different models of tractors, and various tractor applications across various fields. Little did I know that it can pull boats, power a village as a generator, haul extreme weights, act as a dozer, and much more. We also learned about the tractor starting procedures and tractor testing procedures. Our key takeaway was that every tractor is a powerhouse on wheels.

Day two was filled with technical aspects of an engine and how the power is distributed to the wheels and implements. Although mechanics is not our forte, the practical explanation by our trainers with working models made us understand the mechanics behind tractors. Each one of us felt like an engineer at the end of the session.

The final day of the training was the most memorable for us. Every single trainee was taught to drive a tractor. Our trainer, Mr.Ponpandian guided us throughout the session with all safety measures and precautions. The technical knowledge that we gained during the initial days of training helped us drive the tractor around. We were also taken around the JFarm, an adaptive research facility where we witnessed various soil and water conservation techniques and the latest farming technologies. The pride that every single trainee felt was mutual when we successfully completed day three.

The training at TAFE’s centre taught me much about the multiple functions of a tractor and the working of farm implements. The main purpose of any industrial training is to understand the working of a product and its usage. The on-hand practical experience helped us connect with the product regardless of our area of expertise.

Each one of us realized that industrial training acts as a link between theory and the real working environment. I realized how farm mechanization helps in the growth of a society, its people, and the economy. I take pride to work in an industry that directly connects with the backbone of the country, the farmers, who make life on land possible through agriculture.

Journey of Shakthi Priya

Legal Department

Read | Perspective

Beginner’s guide to cryptocurrency and 5 things to know before investing in them

The first act of “purchasing” between humans dates back hundreds of years to what historians refer to as the barter system. One person exchanges a good to obtain something of significant value from a second person; this was how transactions happened in the early days. There was no concept of currency and the barter system reigned supreme. The history of bartering dates back to 6000 BC. Introduced by Mesopotamian tribes, bartering was adopted by the Phoenicians. The Phoenicians bartered goods to those located in various other cities across oceans.

Years passed and humanity grew more complex with each passing day. And with the emergence of complexity and majorly diversified needs, the concept of currency was born. And the rest, as they say, is history.

From coins made of gold and silver, all the way to crisp green banknotes, humanity has come a long way since the curtains closed on the barter system. So much so that there is a new type of currency now, a kind which you cannot even hold!

Unless you were living under a moss-covered boulder, cryptocurrency is a term that would have made its way to you, even if you didn’t go looking for it. What is it exactly? It may sound complicated but isn’t when broken down. Cryptocurrencies are digital assets— that can be used as investments and for online purchases. It is secured by cryptography and with the help of the blockchain infrastructure, it’s nearly impossible to counterfeit or double-spend. Furthermore, each coin of cryptocurrency consists of a unique line of program or code. This means that it can’t be copied, which makes them easy to track and identify as they’re traded.

As mentioned before, cryptocurrency doesn’t exist and is not something you can keep in your wallet and hope to spend. Well, not in your physical wallet at least. Yes, there are e-wallets now too. And soon, we will all be in the Metaverse, but that’s a topic for another day! Coming back to the intangible currency, certain aspects of the currency are extremely important to know and comprehend. Firstly, they are not backed by a central authority such as a government. Instead, they run across a chain of computers. It is exchanged from peer-to-peer on the web without a middleman. Furthermore, cryptocurrency is a decentralized form of currency, meaning no government or bank manages how they’re made, what their value is, or how they will be exchanged. All crypto transactions are secured by cryptography which only allows the sender and intended recipient of a message to view its contents and take further actions. These cryptocurrencies can be stored in a digital wallet, which would enable its user to access them anywhere and at any time. The wallet can be accessed by a private key found with the user, which is essentially the crypto equivalent of a super-secure password— without which the crypto owner cannot access the currency. Also, cryptos are stored on the blockchain,  and the private key is required to authorize transfers of those coins to another person’s wallet.

There is a myriad of cryptocurrencies on the planet such as the more popular Bitcoin,  Litecoin, Polkadot, Chainlink, Mooncoin, Shiba Inu, Dogecoin, etc.  Currently, more than 6,000 coins exist, as per CoinMarket.

When it comes to purchasing crypto coins, it is similar to the stock market with the existence of exchanges and brokers who act as facilitators. These exchanges often charge a fee or commission for each transaction. There is a multitude of exchanges out there, with each different from the other, and offer their discounts, awards, and even signing on bonuses to attract more and more crypto coin buyers. Some of the top crypto exchanges in India are — WazirX, CoinDCX, Coinswitch Kuber, and Unocoin—users have to sign up with their KYC credentials, download the app, and buy cryptocurrency. These exchanges also help you to monitor the value of cryptocurrency and buy or sell it.

With all the basic information out of the way, let us focus on the main factors to be considered before actually investing in cryptocurrencies:

  1. Do THOROUGH research before buying cryptos

Just as is with any kind of investment, buying cryptos comes with its caveat. And with the upsides, some pitfalls accompany them. One must be fully aware of what they are getting into, before investing.  Don’t go off what the social media “experts” say.  This is true for pretty much everything on the internet but is especially important when it comes to cryptocurrency since it lives solely in the digital space and millions share their opinions on the same daily. Consider all this as just noise and focus on what exactly you want to do with cryptocurrencies.

  1. Cryptos are risky

The thought of getting rich quickly with cryptos is enticing, to say the least, but this market is extremely, EXTREMELY volatile and there is the ever-present danger of losing all your money overnight. Non-professional investors should only invest an amount they’re willing to lose.

  1. Cryptos may fail

Just as in any market out there, cryptos are also susceptible to unforeseen failure. Given the dynamic nature of it, the chance of failure is almost skewed towards failure. With thousands of entrants in the market, and new offerings emerging, not all will last. It is always wise to invest in the more popular form of cryptos such as Bitcoin since they are relatively more stable and profitable compared to overnight sensations. A good example of crypto crashing overnight is when Elon Musk Tweeted that he does not own any amount of the SHIB cryptocurrency. The same, which had overtaken DOGE coin previously, crashed seemingly minutes after his Tweet went live and witnessed a 20% retracement in just two hours after Tesla chief Elon Musk’s announcement. A simple Tweet is all it took for the crash to happen.

  1. Cryptos may vanish altogether

Now the entire ecosystem of cryptocurrency is largely supported by the blockchain. Now, this is not a physical institution like a bank, holding the resources but is rather an open-sourced software that helps thousands of users forgo the middleman. The blockchain also keeps track of every single crypto transaction that occurs daily. Since cryptocurrencies are virtual and lack a central storehouse, an account balance can be wiped out. For example, a computer crash without a backup could destroy a stash of cryptocurrency. If a user loses the private key to their wallet, the cryptocurrency they own is unrecoverable. Scammers can also hijack someone’s mobile account by impersonating an account holder. Thieves contact the carrier and request that the user’s SIM card be transferred to a new device. This gives scammers access to cryptocurrency accounts. It’s incumbent upon investors to keep track of their private key and use a wallet from a well-established firm. Professionals also suggest backing up your cryptocurrency private keys and using strong passwords.

  1. Cryptocurrencies are slowly but surely gaining traction

Unlike the Indian Rupee in your wallet, cryptocurrencies aren’t backed by a central bank or a government. And this was the case, for the longest time and not just in India. Cryptocurrencies have no tangible fundamental factors with which to help derive an appropriate valuation. Whereas you can look at the earnings history of a publicly trading stock to estimate its worth, or the economic performance of a country about GDP growth to value a currency like a dollar, digital currencies have no direct fundamental ties. This makes valuing cryptocurrencies in a traditional sense especially difficult, proving near impossible at times.

That being said, Governments around the world are slowly beginning to grasp just how important cryptocurrencies could be for the future and are aware of an impending change in the way the world views and uses cryptocurrency. It is no longer a niche digital asset used by those who know it but is now widespread enough to warrant Governments passing bills and setting up laws in its wake. Case in point, India’s Budget 2022 witnessed the official acknowledgment of cryptocurrencies by the Indian Government.  The Government has proposed that a transaction involving any of the cryptocurrencies will be taxed at 30%. The new law further states that no deduction except the cost of acquisition will be allowed and no loss in the transaction will be allowed to be carried forward. One important caveat here is the fact that this amendment will come into effect only from 1st April 2023 and will accordingly apply to the assessment year 2023-2024 and following subsequent years.

In conclusion, although cryptocurrencies are still largely unregulated (and their use as actual currency can be limited), there is a growing sense that a door has been opened to a vast number of new opportunities and technologies. We may be on the verge of a paradigm shift that would seemingly change how humanity transacts in the future.

News | Spotlight

Mallika Srinivasan, CMD – TAFE Appointed as Chairperson of PESB, Government of India

 

TAFE Chairman & MD – Mallika Srinivasan, has been appointed as the Chairperson of the Public Enterprises Selection Board (PESB), Department of Personnel & Training under the Ministry of Personnel, Public Grievances & Pension, Government of India.

PESB is responsible for appointment of top management posts in the Central Public Sector Enterprises (CPSEs). The appointment of Mallika Srinivasan assumes paramount significance as this is the first time that a private sector specialist as well as a women leader has been appointed as the head of the PESB. She, in her capacity as the chief of PESB, will be equal to that of Secretary to the Government of India.

Mallika Srinivasan responded on the appointment saying, “It is an honour to be given this opportunity to serve in national interest. I thank the Honourable Prime Minister and his Government for the confidence reposed in me. The public sector plays a crucial role in every sphere of economic activity and in the strong economic growth of our nation. It is the largest employer in the country. I am privileged to be a part of the team working towards the fulfilment of our national vision of making India the most vibrant economy globally.”

The Appointments Committee of the Cabinet has approved her appointment as the Chairperson of PESB for a period of 3 years from the date of assumption of charge, or until the attainment of the age of 65 years.

News

Maiden Train Loaded with Eicher Tractors Flagged off from Mandideep Railway Station

 

We are happy to share that the first-ever freight train to leave to another country from Bhopal Railway Division was loaded with Eicher Tractors, and the destination was Bangladesh.

 

Indeed a magnificent moment to see the maiden train loaded with Eicher Tractors being flagged off from the Mandideep railway station in Madhya Pradesh. At Eicher Tractors, we are committed towards keeping up our promise to our customers and strive to deliver Umeed Se Zyada in every situation!

 

We are also pleased to join hands with the Western Central Railway and participate in reducing carbon footprint. A special thanks to the Bhopal Division Railway Administration, the Ministry of Railways and Shri. Piyush Goyal, the Honorable Minister of Railways, and Commerce and Industry, Government Of India, for making continuous efforts to promote freight traffic through Railways!

News | Milestones

Mallika Srinivasan, CMD – TAFE | ETPrime Business Woman of The Year

We are happy and proud to share that Mallika Srinivasan, Chairman & Managing Director, TAFE, has been presented the Business Woman of The Year Award at the ETPrime Women Leadership Awards 2020, a recognition of women leaders who have harnessed the spirit of entrepreneurship, innovation and excellence, to produce tangible, path-breaking results in their chosen fields.
 
On receiving the Award, Mallika Srinivasan said, “The award applauds and celebrates the indomitable spirit of Indian leaders and today, as I reflect back on my own journey, I dedicate this award to my mother who made me believe that it was possible.”
 
Celebrating the women leaders who are scripting the future, the ETPrime Women Leadership Awards nominated the leading ladies from top Indian corporates. It is indeed an honor for TAFE, on Mallika Srinivasan being chosen for this distinction. She exemplifies the spirit of leadership, excellence, and is an inspiration to many.
Do join us in celebrating yet another proud moment in our journey of #CultivatingTheWorld!
Click here to stream the video.
News

A Fleet of Massey Ferguson Tractors Delivered to the Government of Tamil Nadu

 

Since the lockdown, various manufacturing facilities of the TAFE have collaborated with The Government to help the farmers in the state overcome this pandemic situation.

Next in the row, A fleet of the Big Red Machines – The MF 9500 4WD SuperShuttle tractors were delivered to the Agriculture Engineering Department, Government of Tamil Nadu, at the Chennai Secretariat recently, in the presence of the honorable Chief Minister of Tamil Nadu, Shri. Edappadi K. Palaniswami, along with the Honorable Agriculture Minister Shri. R. Doraikkannu, the Honorable Minister for Revenue and Disaster Management Shri. R.B. Udhayakumar and Mr. Gagandeep Singh Bedi, IAS, Agricultural Production Commissioner, and Principal Secretary.

Tamil Nadu Agriculture Engineering Department (TNAED), as a part of its new tractor based scheme, has constructed buildings for the Agriculture Department and handed over keys of MF 9500 4WD tractors for renting them out to small farmers at a lower price.

We are honoured and happy to partner with the Tamil Nadu government’s initiative to bring prosperity to the farming community and assist timely help for the farmers to prepare for the upcoming harvesting season.

WhatsApp Image 2020-10-13 at 10.48.02 AM

The tractors delivered were manufactured at TAFE’s Madurai plant. Yet another step-in making India truly AtmaNirbhar!

A promise to always serve – that’s Massey Ferguson! A world of experience. Working with you.

News | Milestones

TAFE bags ‘Special Award for TPM achievement’ – 2019

TAFE’s Engineering Plastics Division at Maraimalai NagarChennai, won the Special Award for TPM Achievement’ for the year 2019, by the Japan Institute of Plant Maintenance (JIPM), on January 28, 2020.
 
Total Productive Maintenance (TPM) was developed by Seiichi Nakajima in Japan between 1950 and 1970. It was an experience that helped recognize that a leadership mindset – one that engages the frontline teams in small group improvement activities – is an essential element of effective operation. The outcome was the application of the TPM process in 1971. One of the first companies to gain from this system was Nippondenso, a company that created parts for Toyota. They became the first winner of the PM prize. Thus, came into existence the internationally accepted TPM benchmark developed by JIPM, and consequently, Seiichi Nakajima came to be known as the father of TPM.
 
The PM award system was launched by JIPM in 1964, to “strengthen the improvement of enterprise constitutions and contribute to the development of industry, by promoting the modernization of plant maintenance and the development of plant maintenance technologies. The TPM Excellence Awards, in which the results of plants’ TPM activities are judged and honored, have been awarded to some 2,000 plants since the award’s inception. These awards play a valuable role in JIPM’s assessment operations for the development in manufacturing industries. We at TAFE, are proud of our Engineering Plastics Division – Maraimalai Nagar Plant Team, for achieving this coveted accolade!
Spotlight

TAFE cultivates a million smiles amidst COVID-19 pandemic

 

“Knowing there’s one thing I still haven’t told you: I now believe, by the way, that miracles can happen.”
― Nicholas Sparks

Amidst the lockdown in the wake of the COVID-19 pandemic, the murmurs of sadness and hopelessness were echoing out of the most affected community in India, the farmers. Constituting more than half of the country’s population as a workforce, the farmers had to restrict themselves from going about with their agriculture operations due to the widespread impact of this deadly virus. The transportation system came to a grinding halt. With no way to harvest or sell their products, it was indeed a rude shock for the farmers who were preparing for a bounteous harvest after a long period of time.

Meanwhile, TAFE (Tractors and Farm Equipment Limited) came up with a scheme called “Free Tractor Rental Services” through their JFarm Services platform in the states of Uttar Pradesh, Rajasthan, and Tamil Nadu. It aimed to rescue the farming community from the economic implications of COVID-19, and mitigate the impact of the Coronavirus threat on farming operations of small and marginal farmers during the critical Rabi harvest and Kharif preparation season. Relieved farmers started praising the move all around these states, practically boasting their successful cultivation. Within 75 days, 1,60,000 acres of land had been cultivated!

Families were saved, lost smiles were found, self-doubt was smudged and a new and confident community of farmers came out and accepted the long-lost quote by Nicholas sparks. They might have not read it, but they believed for sure, that with companies like TAFE around, miracles can happen, and will keep happening!

News | CSR

TAFE Cultivates 100,000 Acres Free for Small Farmers of Tamil Nadu During COVID-19

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  • Free Tractor Rental Scheme completes 60 days, provides substantial income to farmers
  • Thousands of small farmers get free tractor service during critical farming season
  • Massey Ferguson and Eicher Tractor owners earn extra income through rental
  • Service in huge demand across Tamil Nadu, Rajasthan & Uttar Pradesh
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June 04, 2020 | Chennai: TAFE – Tractors and Farm Equipment Limited, India’s second and world’s third largest tractor manufacturer by volumes, had launched a Free Tractor Rental Servicefor farmers in Tamil Nadu, Rajasthan and Uttar Pradesh from April 1, 2020, for a period of 90 days spanning till June 30, 2020, through its JFarm Services platform. The scheme received an overwhelming response from the farming community and within 60 days of its implementation, over 100,000 acres have been cultivated and rental service has been provided benefitting thousands of farmers in this crucial cropping season.
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This CSR initiative by TAFE aimed to rescue the farming community from the economic implications of COVID-19, and mitigate the impact of the Coronavirus threat on farming operations of small and marginal farmers during the critical Rabiharvest and Kharif preparation season.
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TAFE launched the JFarm Services free tractor rental scheme with 18,000 Massey Ferguson and Eicher Tractor customers, and about 75,000 farm implement owners, to offer implements like the cultivator, rotary tiller, duck-foot cultivator, disc plough, disc harrow, mould board plough, thresher and several others. Owing to popular demand, the JFarm services platform saw an increase in the registrations to 38,900 Massey Ferguson and Eicher Tractors and 1,06,500 implements available on rent.
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TAFE successfully implemented this free tractor rental scheme for the small and marginal farmers with the administrative support of the respective state governments from the Agriculture Departments of Tamil Nadu, Rajasthan and Uttar Pradesh. The benefit received by JFarm Services through tractor rental has been directly given to the farmers by TAFE. This has considerably helped in enhancing the revenue of tractor owners and has been welcomed by both, the owners and the small farmers.
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Thiru. Gagandeep Singh Bedi (IAS), Agriculture Production Commissioner & Principal Secretary, Department of Agriculture, Government of Tamil Nadu, said “State Government sincerely appreciates the free rental scheme by TAFE’s JFarm Services platform which is integrated to the Uzhavan App. At a point in time wherein farmers are severely affected due to the COVID-19 crisis, the scheme is of great support, especially for the small and marginal farmers, by reducing their financial distress during this cropping season. During my recent interaction with the farmers of the delta region, I was pleased to hear a very happy feedback from the farmers about the timely CSR efforts of TAFE in partnership with the Government.”
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Kumarasami, a farmer from Virudhunagar district in Tamil Nadu says, “Because of Corona lockdown, farmers were not able to venture out, looking for tractors on rent. During this time, TAFE and the Tamil Nadu government came to our rescue by providing tractors to carry out our farm operations for free, which otherwise would have costed us Rs. 4000 – 5000. This free rental scheme by TAFE is a blessing for small farmers like me, and we are happy and look forward to the new season.” Another farmer, Vijai Kumar from Kamalapuram, Salem, says, “Due to Corona, the economic well-being of farmers was deeply affected. During such time, TAFE’s JFarm Services and TN Govt’s Uzhavanaided us through the free tractor rental scheme. It supported me immensely in getting my farm ready for sowing and helped me and several other farmers save money.”
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Govindasamy, a farmer and owner of two Massey Ferguson tractors, who hails from Mallur in Ariyalur district of Tamil Nadu and rented out his tractors under the free rental scheme says, “This is the first time any company has launched a unique scheme like this for the farmers. I would like to thank Mallika Srinivasan (Chairman & Managing Director – TAFE) on behalf of all the farmers from my area. As a TAFE customer for more than 30 years, me and family are thankful to TAFE for this kind gesture.”Annadurai, another farmer and an Eicher Tractor owner from Tiruvannamalai, says, “I registered on the JFarm Services App through my dealer and was immediately connected to over 150 farmers, which enabled me to provide 300 hours of tractor service. The farmers were very thankful to us and I would like to take this opportunity to appreciate TAFE for the wonderful service to the farmers of Tamil Nadu.”
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