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XLRI Placement 2020: Domestic offers at INR 50 LPA

XLRI Placement 2020: Xavier School of Management has successfully achieved 100% placements for the outgoing batch of 2018-20 of its flagship programs: Two-year Postgraduate Diploma in Management – Human Resource Management and Two-year Postgraduate Diploma in Management – Business Management with all 359 candidates securing offers through the final recruitment process within two days. The Final Recruitment process saw participation from 108 recruiters with 362 domestic and international offers, inclusive of 24 new finals recruiters. 

XLRI Placement 2020

Key Highlights of XLRI Placement 2020

  • The median salary offered to the batch saw an increase to INR 23 lakhs per annum from 21 lakhs per annum in 2019
  • The average salary saw an increase to INR 24.30 lakh per annum from INR 22.35 lakhs per annum in 2019.
  • Multiple domestic offers at INR 50 lakhs per annum from the BFSI sector
  • The highest international offer stood at INR 58.5 lakhs per annum from the S&M domain
  • The batch received the highest number of offers made through PPOs: 43% of the batch
  • No. of new recruiters: 24
  • The top segments based on roles offered were Consulting, Sales & Marketing and BFSI.
  • KPMG and Pricewaterhouse Coopers made the highest number of offers among the regular recruiters.
  • New finals recruiters included companies such as Arga Investment Company, Tolaram Group, M H Alshaya, Myntra, Power Finance Corporation, Delhivery, JCB, Thoucentric, Welspun, Diageo, Varroc, CK Birla, amongst others.
  • Participation from PSUs like Power Finance Corporation, GAIL. 

XLRI Placement 2020: Sector-wise Turnout

The top segments based on roles offered were Consulting, Sales & Marketing, and BFSI. Consulting firms extended offers to 26% of the candidates. Sales & Marketing and BFSI constituted 21% and 17% of the roles offered to Business Management students, respectively. Other roles included niche functions in Product Management, Business Transformation, Brand Management and Finance.

KPMG, Pricewaterhouse Coopers made the highest number of offers amongst other regular recruiters such as The Boston Consulting Group, Accenture Strategy, Microsoft, Amazon, P&G, Aditya Birla Group, ITC, Avendus Capital, Standard Chartered, Capgemini ELITE, Hindustan Unilever, and others. 

New recruiters included companies such as Arga Investment Management, Myntra, Power Finance Corporation, Thoucentric Consulting, Welspun, Tolaram Group, M H Alshaya, JCB, TCS, Vedanta, amongst others.

XLRI Placement 2020: Consulting

Consulting was the biggest draw this year with firms such as McKinsey & Co., Bain & Co., The Boston Consulting Group, Accenture Strategy, Deloitte, PWC, EY, KPMG, AON, Korn Ferry, Vector Group, Everest Group, Thoucentric Consulting, Infosys and others participated in the process.

XLRI Placement 2020: FMCG, Telecom and Pharma

XLRI has established itself as a campus preferred by FMCGs and the trend continued this year with top firms such as P&G, Hindustan Unilever, ITC, Colgate Palmolive, Asian Paints, Samsung, and others participating. The process witnessed a surge in companies in the pharma sector such as Cipla, Dr. Reddy’s, Astra Zeneca, GlaxoSmithKline, among others. Giants in the automotive segment such as Maruti, Bajaj, JCB also participated in the process. Roles in Company Strategy, Sales & Marketing, Product Supply, Operations, Purchase, IT and Human Resources were offered.

XLRI Placement 2020: BFSI

Finance did exceedingly well this year aided by the participation of firms such as Arga Investments, Citibank, J.P Morgan Chase, Avendus Capital, Shannonside Capital, Goldman Sachs, Standard Chartered, ICICI, Power Finance Corporation, Belden, Edelweiss and others. Niche PE/VC roles were also offered for the first time by Motilal Oswal Group. The roles offered in this domain were Front End Investment Banking, Global and Corporate Banking, Wealth Management, Global Markets, Equity Research and Retail Banking. The increase in finance roles can be attributed to a higher number of candidates opting for the Finance specialization and a vibrant appreciation for finance in the form of finance associations and an in-house XLRI Student Investment fund.

XLRI Placement 2020: General Management

Roles in General Management were offered by conglomerates such as TAS, Aditya Birla Group, Mahindra, Capgemini ELITE, Reliance Industries, Xiaomi, RPG, Hinduja, ACT and others.

XLRI Placement 2020: ITES, E-commerce and Analytics

The firms in this segment include Microsoft, Amazon, Ola, Media.net, Google, Flipkart, Oyo Rooms, Tech Mahindra, HCL, TCS, EXL, and others. Mygate, Policy Bazaar, opened opportunities to students as well. The diverse set of roles offered were Strategy Advisor, Program Manager, Product Manager, Category Manager, Business Development, Territory Head, Analytics, and Recruiter.

XLRI Placement 2020: HR

XLRI is widely regarded as the best institution in the country for HR. HR roles were offered by firms spanning the spectrum of domains such as P&G, ITC, JP Morgan and Chase, Colgate Palmolive, Myntra, Ola, Power Finance Corporation, Samsung, C K Birla, and others. For the first time, Assistant Vice President roles were offered by Genpact to students on campus. M H Alshaya offered international roles in the HR domain. HR roles offered also included recruitment, HR consulting, Compensation & Benefits, and HR analytics. This year also saw healthy participation from PSUs like Power Finance Corporation, GAIL and others.

About XLRI, Jamshedpur

XLRI-Xavier School of Management, Jamshedpur is a premier, private management institute in India founded in 1949 by Fr Quinn Enright, S.J. in the ‘steel city’ of Jamshedpur. Over the last six decades, the institute has grown into a top-ranking business management school of international repute with a wide portfolio of management programs and research publications. Its alumni are spread around the globe and have demonstrated responsible business leadership in their organizations. XLRI continually strives to contribute its mite to the professional growth and management of numerous organizations and institutions across industry sectors. XLRI has earned two prestigious International Accreditations, viz., AACSB – The Association to Advance Collegiate Schools of Business and AMBA – Association of MBAs. XLRI has also earned the National Board of Accreditation (NBA) accreditation. 

Prepare for CAT 2020 now and get into a Top B School | Check out Top MBA Courses here. 

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IIM Kashipur Summer Placement Report 2020

IIM Kashipur Summer Placement Report 2020: IIM Kashipur has successfully completed 100% summer placements 9th year in a row. A total of 108 companies participated in the process offering 257 positions to 243 students who applied for summer internships through the institute.  

IIM Kashipur Summer Placement Report 2020: Key Highlights

Particulars Details
Total number of students 243
Total number of companies 108
Total positions offered 257
Highest Stipend ₹ 3,15,000
Average Stipend ₹ 70,131
Average Stipend of top 10 percent ₹ 2,02,212
Number of First time recruiters 61

Despite the sluggish economy, IIM Kashipur has registered 100 percent summer placement. A total of 108 companies participated in the process offering 257 positions to 243 students who applied for summer internships through the institute.

The highest stipend offered this year was ₹ 3,15,000. The average stipend for the season was ₹ 70,131 with the top 10 percent of students getting an average stipend of ₹ 2,02,212. The institute saw the number of companies visiting for placements increase by 32%. There has been a 12% rise in the average stipend offered despite the increase in batch size.

IIM Kashipur Summer Placement Report 2020: Top Recruiters

  • Students were placed across sectors such as BFSI, FMCG, Healthcare, Advertising, Technology, Manufacturing, Operations, E-Commerce, Retail, Education, Media, Entertainment, Food and Beverages, etc.
  • The BFSI sector continued to be the dominant player in recruitment with renowned firms like ICICI Bank, Tata Capital, Yes Bank, SIDBI, Bajaj Finserv, OfBusiness, Tresvista, IDBI, Ujjivan among many others offered lucrative roles to students across the domains of Marketing, Finance, Retail, Operations and HR. 
  • The institute saw participation from organizations like Deloitte, EY, Sutherland, Mphasis, 4TiGo, Puma, Cinepolis, Angel Broking, CL Educate, L&T Technology Services, Droom, MAQ Software offering cross functional roles across various domains.
  • There were 61 first time recruiters including organizations like Godfrey Philips, OLX, Amar Ujala, Apollo Tyres, ONGC, BHEL, Hafele, Micelio, Larsen & Toubro Group, Tredence Analytics, and Oorjan.
  • All 29 female candidates received offers from brands like EY, Deloitte, ICICI Bank, OLX, Godfrey Philips, IDBI across domains like Finance, Marketing, Strategy and HR. 

IIM Kashipur looks forward to continuing association with the corporate sector at different platforms ranging from administration to the academia. This year IIM Kashipur is starting its Two-Year Full-Time MBA Analytics program to cater to the growing industry needs.  

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Union Budget 2020 Highlights

Union Budget 2020: With the economy hitting a six-year low GDP growth, Union Finance Minister Nirmala Sitharaman presented the Union Budget 2020 on Saturday that focused on raising the purchasing power by cutting income tax rates and boosting rural income.  

Union Budget 2020

Union Budget 2020: Taxation

  • In a shot in the arm for the middle class, Sitharaman has proposed a new simplified tax regime. 10% tax for income between 5 lakh-7.5 lakh; 15% tax for income between 7.5 lakh to 10 lakh; 20% tax for income between 10 lakh to 12.5 lakh; 25% tax for income between 12.5 lakh to 15 lakh ; 30% tax for income above 15 lakh. No income tax for those with taxable income below Rs 5 lakh.
  • To simplify the tax system and lower tax rates, around 70 of more than 100 income tax deductions and exemptions have been removed.
  • Dividend Distribution Tax (DDT) abolished; Companies will not be required to pay DDT; dividend to be taxed only at the hands of recipients, at applicable rates.
  • Cash reward system envisaged to incentivise customers to seek invoice.
  • 15% concessional tax rate for new power generation companies.
  • Tax on cooperative societies reduced to 22% without exemptions.
  • 100% tax concession to sovereign wealth funds on investment in infrastructure projects.
  • Tax on Cooperative societies to be reduced to 22 per cent plus surcharge and cess, as against 30 per cent at present.
  • To end tax harassment, new taxpayer charter to be instituted. Tax harassment will not be tolerated, says FM.
  • Proposes to amend Companies Act to bring criminal liability in certain areas.
  • To amend I-T Act to allow faceless appeals.
  • To launch new direct tax dispute settlement scheme – Vivaad se Vishwaas scheme.
  • Interest and penalty will be waived for those who wish to pay the disputed amount till March 31.
  • Government to look at ensuring that contracts are honoured.
  • Proposes new National Policy on Official Statistics to improve data collection and dissemination with the help of technology.
  • Aadhaar-based verification of taxpayers is being introduced to weed out dummy or non-existent units; instant online allotment of PAN on the basis of Aadhaar.
  • Registration of charity institutions to be made completely electronic, donations made to be pre-filled in IT return form to claim exemptions for donations easily. 

Union Budget 2020: Housing

  • Tax holiday for affordable housing extended by 1 year. Additional deduction up to Rs. 1.5 lakhs for interest paid on loans taken for an affordable house extended till 31st March, 2021. 

Union Budget 2020: Investment

  • Govt plans to sell part of its holding in Life Insurance Corporation (LIC) by way of Initial Public Offering.
  • Certain specified categories of government securities will be open fully for NRIs, apart from being open to domestic investors.
  • FPI limit in corporate bonds raised to 15% from 9%.
  • The government doubles divestment target for the next fiscal at Rs 2.1 lakh crore.
  • Expand Exchange Traded Fund by floating a Debt ETF, consisting primarily of govt. securities.

Union Budget 2020: Indirect Tax 

  • Customs duty raised on footwear to 35% from 25% and on furniture goods to 25% from 20%.
    Excise duty proposed to be raised on Cigarettes and other tobacco products, no change made in the duty rates of bidis.
  • Basic customs duty on imports of news print and light-weight coated paper reduced from 10% to 5%.
  • Customs duty rates revised on electric vehiclesand parts of mobiles.
  • 5% health cess to be imposed on the imports of medical devices, except those exempt from BCD.
  • Lower customs duty on certain inputs and raw materials like fuse, chemicals, and plastics.
  • Higher customs duty on certain goods like auto-parts, chemicals, etc. which are also being made domestically. 

Union Budget 2020: Startups & MSME

  • Tax burden on employees due to tax on ESOPs to be deferred by five years or till they leave the company or when they sell, whichever is earliest.
  • New Simplified return for GST from April 2020.
  • Start-ups with turnover up to Rs. 100 crore to enjoy 100% deduction for 3 consecutive assessment years out of 10 years.
  • Turnover threshold for audit of MSMEs to be increased from Rs 1 crore to Rs 5 crore, to those businesses which carry out less than 5% of their business in cash.
  • App-based invoice financing loans product to be launched, to obviate problem of delayed payments and cash flow mismatches for MSMEs.
  • Amendments to be made to enable NBFCs to extend invoice financing to MSMEs. 

Union Budget 2020: Fiscal numbers & allocations

  • FY20 fiscal deficit revised to 3.8% from 3.3% in the current fiscal. For FY21, fiscal target seen at 3.5%.
  • Deviation of 0.5%, consistent with Section 4(3) of FRBM Act.
  • Net market borrowing for FY20 at Rs 4.99 lakh crore; For FY21 it’s pegged at Rs 5.36 lakh crore.
  • Nominal GDP growth for 2020-21 estimated at 10%.
  • Receipts for 2020-21 estimated at Rs 22.46 lakh crore. Expenditure at Rs 30.42 lakh crore.
  • Defence gets Rs 3.37 lakh crore as the defence budget.
  • Rs 2.83 lakh crore to be allocated for the 16 Action Points; Rs 1.6 lakh crore allocated to agriculture and irrigation; Rs 1.23 lakh crore for Rural development and Panchayti Raj.
  • Rs 4,400 crore for clean air; Rs 53,700 crore for ST schemes; Rs 85,000 crore for SC, OBCs schemes; Rs 28,600 for women specific schemes; Rs 9,500 crore for senior citizen schemes.
  • Rs 30,757 crore rupees for Union Territory of J&K; Rs 5,958 crore rupees for Union Territory of Ladakh.

Union Budget 2020: Banking

  • To help bank depositors, government increases depositor insurance to Rs 5 lakh from current Rs 1 lakh.
  • Encourage PSBs to approach capital markets for fund raising.
  • Banking Regulation Act to be amended to strengthen Cooperative banks.

Union Budget 2020: Jobs

  • National recruitment agency: New common entrance test for non-gazetted government jobs and public sector banks.
  • Special bridge courses to be designed by the Ministries of Health, and Skill Development: To fulfill the demand for teachers, nurses, para-medical staff and care-givers abroad.
  • Urban local bodies to provide internships for young engineers for a period of up to one year. 

Union Budget 2020: Infrastructure

  • 5 new Smart cities to be set up via PPP model.
  • Rs 1.7 lakh crore allocated to transportation.
  • 100 more airports to be set up by 2024 to support UDAN scheme.
  • Accelerated development of highways will be undertaken; Delhi-Mumbai expressway and two other projects to be completed by 2023. Chennai-Bengaluru Expressway to be started.
  • NHAI to monetize 12 lots of highway bundles of over 6,000 km before 2024.
  • Young engineers and management graduates will be roped in for infrastructure projects under Project Preparation Facility.
  • About Rs 22,000 crore already provided for supporting National Infrastructure Pipeline.
  • Investment Clearance Cell to set up through a portal, will provide end-to-end facilitation, support and information on land banks.
  • National Logistics Policy will soon be released, creating single window e-logistics market.

Union Budget 2020: Telecom

  • Rs 6,000 crore for BharatNet programme; Fibre to Home connections under BharatNet will be provided to 1 lakh gram panchayats this year itself.
  • New policy for private sector to build Data Centre Parks.

Union Budget 2020: Tourism

  • Rs 2,500 crore for tourism promotion.
  • An Indian Institute of Heritage and Conservation under Ministry of Culture proposed; with the status of a deemed University.
  • 4 more museums from across the country to be taken up for renovation and re-curation.
  • Rs.3150 crore proposed for Ministry of Culture for 2020-21.
  • Maritime museum to be set up at Lothal- the Harrapan age maritime site near Ahmedabad, by Ministry of Shipping.

Union Budget 2020: Energy

  • Expansion of National Gas Grid from 16,200 km to 27,000 km along with reforms to deepen gas markets, enable ease of transactions and transparent price discovery.
  • Rs 22,000 crore allocated to to power and renewable energy.
  • FM urges all states and UTs to replace conventional energy meters by pre-paid smart meters in 3 years, this will give consumers the freedom to choose supplier and rate as per their requirements.
  • Advise to shut thermal plants if they don’t meet emission norms. 

Union Budget 2020: 5 measures for Railways

  • Large solar power capacity to be set up alongside rail tracks, on land owned by Railways.
  • More Tejas-like trains for tourists.
  • 150 new train to be introduced on PPP basis; Four stations will be also be redevelopment with the help of PPP.
  • Rs 18,600 crore worth Bengaluru suburban transport project launched; 20% equity will be provided be the Centre.

Union Budget 2020: Education

  • Rs 99,300 crore allocated for education sector, Rs 3,000 crore rupees for skill development.
  • External commercial borrowings and FDI to be leveraged to improve the education system.
  • A medical college to be attached to a district hospital in PPP mode, viability gap funding to be set up for setting up such medical colleges.
  • US-like SAT exam to be held in African and Asian countries for benchmarking foreign candidates who wish to Study In India.
  • Degree-level full-fledged online education programme to be offered by institutes in top 100 in National Institutional Ranking Framework.
  • New Education Policy to be announced soon.
  • To bring in equivalence in the skill sets of the workforce and employers’ standards.
  • 150 higher educational institutions to start apprenticeship embedded degree/diploma courses by March 2021.
  • To launch 2 new National science scheme.
  • National Police University and National Forensic Science University proposed for policing science, forensic science, and cyber-forensics.

Union Budget 2020: Agriculture

  • Agriculture market needs to be liberalised; govt proposes to handhold farmers, says FM.
  • Comprehensive measures for 100 water-stressed districts being proposed.
  • PM KUSUM scheme will be expanded to 20 lakh farmers.
  • Government will help 20 lakh farmers for setting up solar pumps; Farm market will to be liberalized.
  • Another 15 lakh farmers to be helped to solarise their grid-connected pump sets.
  • Scheme to enable farmers to set up solar power generation capacity on their fallow/barren lands and to sell it to the grid.
  • Supporting states to focus on one product for one district so as to make way for Horticulture to gain momentum.
  • Change in incentive scheme for chemical fertilisers. We will encourage balanced use of all fertilizers, a necessary step to change the incentive regime which encourages excessive use of chemical fertilizer
    Krishi UDAN scheme for agricultural exports on international and national routes. This will also improve value realization in North East and tribal districts. 
  • Railways will set up Kisan Rail through PPP arrangement, for transportation of perishable goods.
  • For better marketing and export, supporting states will focus on one product for one district, so that high focus is given at district level for horticulture to gain momentum.
  • Zero Budget farming focus of the government.
  • MGNREGS to be used to develop fodder farm.
  • Jaivik Kheti Portal – online national organic products market to be strengthened. 

Union Budget 2020: Livestock

  • Milk processing capacity to be doubled to 108 tonne from 53 tonne by 2025.
  • Artificial insemination to be increased to 70% from the present 30%.
  • MNREGS to be dovetailed to develop fodder farms.
  • Foot and Mouth Disease, Brucellosis in cattle and Peste Des Petits ruminants (PPR) in sheep and goat to be eliminated by 2025.
  • Deen Dayal Antyodaya Yojana – 0.5 crore households mobilized with 58 lakh SHGs for poverty alleviation.

Union Budget 2020: Village Storage Scheme

  • Will further expand on SHGs for alleviation of poverty.
  • To be run by the SHGs to provide farmers a good holding capacity and reduce their logistics cost.
  • Women, SHGs to regain their position as Dhaanya Lakshmi.
  • NABARD to map and geo-tag agri-warehouses, cold storages, reefer van facilities, etc.
  • Viability Gap Funding for setting up such efficient warehouses at the block/taluk level.
  • Food Corporation of India (FCI) and Central Warehousing Corporation (CWC) to undertake such warehouse building.
  • Financing on Negotiable Warehousing Receipts (e-NWR) to be integrated with e-NAM.
  • State governments who undertake implementation of model laws (issued by the Central government) to be encouraged.

Union Budget 2020: Fisheries

  • Framework for development, management and conservation of marine fishery resources to be put in place.
  • Fish production to be raised to 200 lakh tonnes by 2022-23.
  • Youth and fishery extension work to be enabled by rural youth as Sagar Mitras, forming 500 fish farmer producing organizations.

Union Budget 2020: Sanitation

  • Rs 3.6 lakh crore allocated to water sanitation and pipeline project; Rs 12,300 crore for Swachh Bharat.
  • Our government is committed to Open Defecation Free country, in order to sustain ODF behaviour and to ensure no one is left behind.

Union Budget 2020: Healthcare

  • Rs 69,000 crore allocated to healthcare sector.
  • Rs. 6400 crore (out of Rs. 69,000 crore) for PM Jan Arogya Yojana (PMJAY)
  • Indradhanush immunization plan expanded to cover 12 new diseases.
  • Viability gap funding window to be set up to cover hospitals, with priority given to aspirational districts that don’t have hospitals empanelled under Ayushman Bharat.
  • Propose Rs 35,600 crore nutrition-related plan.
  • Jan Aushadhi Kendra Scheme to offer 2000 medicines and 300 surgicals in all districts by 2024.
  • Over 6 lakh anganwadi workers have been equipped with smartphones to upload the nutrition status of 10 crore households.
  • Nominal health cess on import of medical equipment to be introduced to encourage domestic industry and generate resources for health services.
  • A new scheme to provide higher insurance cover, reduced premium for small exporters and simplified procedure for claims.
  • Targeting diseases with an appropriately designed preventive regime using Machine Learning and AI.

Union Budget 2020: Other announcements

Three prominent themes of the Union Budget 2020:

  • Aspirational India: Better standards of living with access to health, education and better jobs for all sections of the society. Three components of Aspirational India:
    a) Agriculture, Irrigation, and Rural Development
    b)Wellness, Water, and Sanitation
    c) Education and Skills
  • Economic Development for all: “Sabka Saath , Sabka Vikas , Sabka Vishwas”.
  • Caring Society: Both humane and compassionate; Antyodaya as an article of faith.
  • Provision of Rs 8,000 crore over five years for Quantum Technologies and it’s applications.
  • GIFT City to have an International Bullion Exchange, enabling better price discovery of gold.
  • India will host G20 Presidency in 2022, Rs 100 crore to be allocated for making preparations for this historic occasion, where India will drive global economic agenda.
  • This Budget is woven around three prominent themes: Aspirational India; Economic Development for All; A Caring Society.
  • Proliferation of technologies such as analytics, machine learning, Artificial Intelligence, bioinformatics and number of people in productive age group at its highest, point out two cross-cutting developments.
  • Govt wants to improve the life of the people through Rs 100 lakh crore infrastructure pipeline projects.
  • GST has resulted in efficiency gains in transport and logistics sector, inspector raj has vanished, it has benefitted MSME Consumers who have got a annual benefit of Rs 1 lakh crore by GST.
  • 6 million new taxpayers have been added.
  • Average household now saves nearly 4% more on the monthly basis after implementation of GST.
  • GST resulted in Rs 1 lakh crore gains to consumers, removed inspector raj and helped transport sector.
  • India uplifted 271 million people out of poverty.
  • India is now 5th largest economy in world.Central Govt debt reduced to 48.7% of GDP from 52.2 per cent in March 2014.
  • 7.4% growth surpassed in 2014-19 with average inflation of 4.5%.
  • Centre’s debt down from 52.2% in 2014 to 48.7% in 2019.
  • During 2014-19, govt brought paradigm shift in governance.
  • Finance Minister lists out welfare schemes like affordable housing scheme, DBT and Ayushman Bharat.

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Citizenship Amendment Act: What it holds for India?

Citizenship Amendment Act: What is it?

The CAB bill (Citizenship Amendment Bill, 2019) was passed in the Indian Parliament on December 11, 2019 with 125 votes in favor and 105 votes against. The bill received presidential assent on December 12, 2019. The Citizenship Amendment Act, 2019 (CAA) amends the Citizenship Act of 1955 to make illegal immigrants who are Hindus, Sikhs, Buddhists, Jains, Parsis and Christians from Afghanistan, Bangladesh and Pakistan who entered India on or before December 31, 2014, eligible to apply for Indian citizenship.

According to the 1955 law, a person must have resided in India (or been in the service of the Central Government) for at least 11 years in order to be eligible for citizenship. The amended Act reduces that period to five years for all migrants from these three countries belonging to these six religious communities. 

Citizenship Amendment Act

Exemption to the Citizenship Amendment Act 

The Citizenship (Amendment) Bill exempts certain areas in the North-East from this provision. The Citizenship (Amendment) Bill would not apply to tribal areas of Assam, Meghalaya, Mizoram and Tripura as included in Sixth Schedule of the Constitution and the area covered under the Inner Limit notified under the Bengal Eastern Frontier Regulation, 1873. This effectively means that Arunachal Pradesh, Nagaland and Mizoram along with almost whole of Meghalaya and parts of Assam and Tripura would stay out of the purview of the Citizenship (Amendment) Bill.

Besides, the citizenship bill also makes amendments to provisions related to the Overseas Citizens of India (OCI) cardholders. As per the citizenship bill, a foreigner may register as an OCI under the 1955 Act if they are of Indian origin (e.g., former citizen of India or their descendants) or the spouse of a person of Indian origin.

Why is Citizenship Amendment Act seen as a problem?

The Citizenship (Amendment) Act 2019 has triggered widespread protests across India. The Act seeks to amend the definition of illegal immigrant for Hindu, Sikh, Parsi, Buddhist and Christian immigrants from Pakistan, Afghanistan and Bangladesh, who have lived in India without documentation. They will be granted fast-track Indian citizenship in six years. So far 12 years of residence has been the standard eligibility requirement for naturalisation. The anger over CAA led to street protests, first in Assam that later spread to Delhi and other parts of the country.

Difference between CAA and NRC

CAB NRC
CAB will provide Indian citizenship based on religion. NRC has nothing to do with religion.
CAB likely to benefit non-Muslim immigrants. NRC is aimed at deportation of all illegal immigrants irrespective of their religions.
CAB to grant citizenship to non-Muslim immigrants from Pakistan, Bangladesh and Afghanistan. NRC Assam was aimed at identifying ‘illegal immigrants’, mostly from Bangladesh.
CAB will grant citizenship to the religious minorities who entered India on or before December 31, 2014. NRC will include those who can prove that either they or their ancestors lived in India on or before March 24, 1971.

What is the govt’s logic on this?

Citing partition between India and Pakistan on religious lines in 1947, the NDA government has argued that millions of citizens of undivided India belonging to various faiths were staying in Pakistan and Bangladesh from 1947. “The constitutions of Pakistan, Afghanistan and Bangladesh provide for a specific state religion. As a result many persons belonging to Hindu, Sikh, Buddhist, Jain, Parsi and Christian communities have faced persecution on grounds of religion in those countries. Some of them also have fears about such persecution in their day-to-day life where right to practice, profess and propagate their religion has been obstructed and restricted. Many such persons have fled to India to seek shelter and continued to stay in India even if their travel documents have expired or they have incomplete or no documents,” the Bill states. 

Why are the states angry about CAA?

The Citizenship (Amendment) Act 2019 has triggered widespread protests across India. Among the states in the Northeast, the outrage against CAB has been the most intense in Assam. While a chunk of these states have been exempted from the legislation, CAB overs a large part of Assam. The protests stem from the fear that illegal Bengali Hindu migrants from Bangladesh, if regularised under CAB, will threaten cultural and linguistic identities of the state. 

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IIM Rohtak Admission Criteria 2020

IIM Rohtak Admission Criteria 2020 has been announced and CAT 2019 score weightage is a mere 45% for final convert at IIM Rohtak, while 95 percentile will be the general overall CAT Cutoff for IIM Rohtak. IIM Rohtak has opted-out of the CAP (Common Admission Process) for admission into the MBA Programme for the batch of 2020-2022. IIM Rohtak will be conducting its WAT and PI individually. Let us have a detailed look at IIM Rohtak Admission Criteria. 

IIM Rohtak Admission Criteria 2020: Important Dates

Activities Tentative Schedule
Intimation to shortlisted candidates on the basis of CAT score for further selection process 2nd week of January 2020
Receiving confirmation from shortlisted candidates for next step of selection process 3rd week of January 2020
Conducting of WAT & PI process at different centers (Delhi, Mumbai, Kolkata, Bangalore & Rohtak) 2nd week of February to

4th week of February 2020

Declaration of final result and waiting list Offer letter to waitlisting candidates, if required 1st week of April 2020 to

2nd week of May 2020

Declaration of the final list of candidates 3rd week of May 2020
Registration for PGP program, Verification of documents, Submission of term fee, Hostel room allocation, and Interaction with faculties Last week of May 2020

IIM Rohtak Admission Criteria 2020

The admission process of IIM Rohtak is a five-stage process:

Stage I: Online Registration for PGP Admission 2020-22 batch, IIM Rohtak

The first shortlisting of candidates will be based on minimum section-wise and aggregate percentile scores in the CAT 2019 as mentioned in Table-1 below.

Category VARC DILR QUANT Overall
General 70 70 70 95
NC-OBC 60 60 60 78
SC 50 50 50 60
ST 30 30 30 40
PWD 30 30 30 40

The candidates who have selected IIM Rohtak as one of their preferences in the CAT 2019 form, will be invited for online registration for the PGP Admission process 2020 during the second week of January 2020. Shortlisted candidates will receive an email with a web-link for online registration in PGP 2020-22 batch.

Candidate needs to submit an application/ admission data form along with registration fee of Rs. 2000/-. The candidates, who have submitted the application forms and registration fees by the stipulated date and time, will be considered and invited (as per merit) for the Written Analysis & Personal Interview (WAT &PI) in Stage-II.

Stage II- Written Analysis Test (WAT) & Personal Interview (PI)

All shortlisted candidates at State I, will appear in Stage II (WAT & PI). WAT & PI will be conducted in Delhi, Rohtak, Mumbai, Kolkata & Bangalore as per following schedule:

Place Date
Delhi 10-15 February, 2019
Rohtak 16-20 February, 2019
Mumbai 19-21 February, 2019
Bangalore 19-21 February, 2019
Kolkata 16-25 February, 2019

All the shortlisted candidates will be informed by emails to download their call letters to appear in WAT & PI. All the required details like venue of WAT & PI, date, time and other required guidelines will be mentioned in the call letters.

Stage III – The Final Selection List based on CAT, WAT, PI & Diversity scores

A weight of 45% will be assigned to CAT Total Score (Scaled to 100). A weight of 35% will be given to WAT & PI Score. Further, for Academic diversity and Gender diversity, candidates will be given a weight of 20%.

The weighted aggregate of the following components namely (a) CAT; (b) WAT; (c) PI; (d) Diversity will be used to prepare a merit/rank list and accordingly the candidates will be invited to appear in Stage-IV.

Stage IV – Offer for Provisional Admission for the PGP programme 2020-22 batch 

The offer of admission to the candidate will be made strictly on the basis of merit/ rank list and availability of seats in each category (Gen, SC, ST, NC-OBC, EWS & DAP) as per reservation rules of Govt. of India.

A candidate receiving admission offer from IIM Rohtak (IIM-R) and accepting the offer within the stipulated date, needs to deposit Offer Acceptance Amount (as mentioned in the Offer Letter) through online payment link. 

Stage V – Reporting for joining the PGP programme 2020-22 (Batch –XI) 

Candidates need to login on the Institute website by using his/her login credentials (Username & Password) to deposit full programme fee /Term Fee as mentioned in the confirmation letter and need to report in the Institute Campus in Rohtak as per communicated schedule in the confirmation letter.

Further, on the day of reporting in the campus, the admission team will do physical verification of the documents and allocation of hostel room to the candidate. Hostel allocation will be done on the basis of first come first serve basis separately for male and female students. Hostel rooms for DAP category will be arranged on the ground floor. 

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MBA Exam Calendar for B-School Admissions 2020

MBA Exam Calendar 2020: MBA admissions in India is usually based on the performance in entrance exams. There are more than 50 entrance tests for admission to top MBA colleges in India. These exams are conducted at the national or state/regional level. MBA entrance exams for MBA Admission 2020 will begin in the month of October and continue till March. Apart from the popular national level MBA entrance exams like CAT, XAT, NMAT, SNAP, MAT, ATMA, CMAT, the state level and institute specific MBA entrance exams like that of IIFT, TISS NET and IBSAT will also be held for MBA admission in December and January. In this article, we bring to you the MBA Exam Calendar for Admissions 2020.

MBA Exam Calendar 2020

Name of Institute Last date to apply (Tentative)
NMIMS Mumbai 3rd October
IIMs 25th September
IIFT, Delhi, and Kolkata 25th October
FMS Delhi
(TBA)
Third week of November
XLRI Jamshedpur 30th November
MDI Gurgaon 22nd November
SIBM Pune 14th December
XIMB
(TBA)
30th November
MICA MICAT 1: 25th November MICAT 2: 16th January
SCHMRD Pune 14th December
SIIB Pune 14th December
SIMS/SITM/SIMC/SIOM/SCIT/SSBF/SSSS 14th December
SP Jain Institute of Management and Research. 22nd November
TISS Mumbai
(TBA)
First week of December
IMI Delhi
(TBA)
2nd December.
ISB Hyderabad Cycle 1: 15th September
Cycle 2: 1st December
Cycle 3: 1st January
Goa Institute of Management First Mover:
2nd December
Early Bird/Achiever Round: 15th December
Last: 31st December
Department of Financial Studies
(TBA)
First week of January
IRMA
(TBA)
Third week of January
JBIMS Mumbai
(TBA)
Last week of January
IMT Ghaziabad
(TBA)
22nd November
NITIE
(TBA)
First week of February
IITs
(TBA)
(To be announced)
TAPMI Manipal (To be announced)
Great Lakes, Chennai Last week of January
FORE School of Management Last week of December
SDA Bocconi Mumbai (To be announced)
Welingkar Mumbai 26th January
IFIM Bangalore (To be announced)
ICFAI Business School December 12, 2019

Top B-Schools and Exams Accepted

Name of Institute Entrance Exam
NMIMS Mumbai NMAT
IIMs CAT
IIFT, Delhi, and Kolkata IIFT
FMS Delhi
(TBA)
CAT
XLRI Jamshedpur XAT
MDI Gurgaon CAT
SIBM Pune SNAP
XIMB
(TBA)
XAT
MICA CAT+MICAT
SCHMRD Pune SNAP
SIIB Pune SNAP
SIMS/SITM/SIMC/SIOM/SCIT/SSBF/SSSS SNAP
SP Jain Institute of Management and Research. CAT/XAT/GMAT
TISS Mumbai
(TBA)
TISS
IMI Delhi
(TBA)
CAT
ISB Hyderabad GMAT
Goa Institute of Management CAT/XAT/CMAT
Department of Financial Studies
(TBA)
CAT
IRMA
(TBA)
CAT
JBIMS Mumbai
(TBA)
CAT/MHCET
IMT Ghaziabad
(TBA)
CAT/XAT/GMAT
NITIE
(TBA)
CAT
IITs
(TBA)
CAT
TAPMI Manipal CAT/XAT/GMAT
Great Lakes, Chennai CAT/XAT/CMAT/GMAT
FORE School of Management CAT/XAT/GMAT
SDA Bocconi Mumbai CAT/GMAT/GRE/NMAT
Welingkar Mumbai CAT/XAT/CMAT/MH CET/ATMA/GMAT
IFIM Bangalore CAT/XAT/GMAT
ICFAI Business School IBSAT

It may be noted that the MBA entrance exam dates and schedule for some of the National level entrance tests like CAT, IIFT, CMAT, NMAT by GMAC, MAT, ATMA change from exam to exam, the MBA exam dates for few other MBA exams like SNAP, XAT are traditionally fixed and are rarely changed. 

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PMC Bank Crisis: An In-depth Analysis of the Ongoing Crisis

PMC Bank Crisis: PMC Bank is the largest urban cooperative bank to be placed under the RBI watch since the crisis of the Madhavpura Mercantile Co-operative Bank in 2001 linked to the stock market scam of Ketan Parekh. While Madhavpura had a large exposure to a single stockbroker, two-thirds of its loans had been given by PMC Bank to a single HDIL real estate developer whose creditworthiness was already under a cloud.

The emerging crisis at PMC Bank is the tip of the iceberg in India’s banking sector with broader, unresolved issues. The origins of the banking sector crisis goes back to the unresolved issue of non-performing assets (NPAs), which in the case of cooperative banks are magnified due to lax governance and a dicey business model. 

PMC Bank Crisis

PMC Bank Crisis: PMC and HDIL Connection

Punjab and Maharashtra Cooperative Bank (PMC Bank), which is now subject to regulatory restrictions for under-reporting its bad loans, allegedly issued a personal loan of Rs. 96.5 to the debt-laden real estate company Housing Development and Infrastructure (HDIL) developer Sarang Wadhawan, whose company had already defaulted on a Rs. 2,500-crore loan from the lender.

Throwing all the laws into the wind, in August, PMC Bank had approved the personal loan and it was beyond the Rs 2,500-crore loan that HDIL had ceased to repay and that the cooperative bank refused to recognize as bad loans. Alarmingly, even when it was facing insolvency proceedings in the National Company Law Tribunal (NCLT), PMC Bank continued to work with the beleaguered company.

PMC Bank Crisis: Highlights

  • In 2017, Punjab and Maharashtra Cooperative Bank Chairman S Waryam Singh held a stake of 1.91% in HDIL.
  • Despite its failure to repay duties, PMC bank continued to lend to HDIL. The bank issued HDIL founder Sarang Wadhawan a personal loan of Rs 96.5 crore, whose company had already defaulted on Rs 2,500 crore loans.
  • The Punjab and Maharashtra Co-operative Bank used at least 21,049 dummy accounts to cover accumulated non-performing assets of Housing Development and Infrastructure Limited (HDIL) real estate companies.
  • In his confession letter to RBI, the PMC bank managing director also disclosed that the bank’s exposure to bankrupt HDIL was pegged at Rs 6,500 crore, which represents 73% of the total assets of the bank.
  • Because the outstanding loans were large and if they were listed as NPA, the bank’s profitability would have been impacted and RBI’s regulatory action would have faced the bank, the MD said.
  • According to the regulation, banks have a single entity exposure limit of 15% of their capital account, while group companies have a limit of 20%. In the case of HDIL, exposure was at 73 percent four times the usual level.

PMC Bank Crisis: Bank profile

Particulars Details as on 31st March 2018
Registered Office 240, Shankar Sadan, SION (E), Mumbai-400022
Number of Members 66045
Number of Branches 134 Branches
Paid up Share Capital Rs. 294.22 Crore
Total Reserves and Funds Rs. 814.80 Crore
Total Deposits Rs. 9938.85 Crore
Total Loans and Advances Rs. 7457.50 Crore
Total Overdues Rs. 199.60 Crore
Gross NPA’s 1.99%
Net NPA’s 1.05%
Net Profit Rs. 100.90 Crore

Action against those involved in Fraud

In the case of financial irregularities, the Economic Offences Wing (EOW) of Mumbai Police has filed a first information report (FIR). PMC Bank’s suspended director Joy Thomas, chairman Waryam Singh; HDIL’s Rakesh Wadhwan and Sarang Wadhwan; other HDIL-related entities; as well as PMC Bank promoters and officer bearers were identified as accused in the FIR filed by the EOW.

The Enforcement Directorate (ED) raided six locations in Mumbai and neighboring areas to gather evidence in a money laundering case involving the Bank and Housing Development and Infrastructure Limited (HDIL) Punjab and Maharashtra Co-operative (PMC).

Several other financial institutions pursuant to Section 7 of the Insolvency and Bankruptcy Code (IBC) have loan defaults against HDIL in the NCLT’s Mumbai Bench. These include the Bank of the Union, the Bank of Industry, Dena Bank, the Bank of the Union and the Bank of India. 

The move came after the Mumbai Police’s Economic Offence Wing (EOW) arrested debt-saddled HDIL bosses on charges of alleged involvement in fraud at the PMC Bank. Also included in the EOW action were the listed builder’s commercial and residential properties worth Rs 3,500 crore. The Enforcement Directorate (ED) confiscated 12 high-end cars, Rakesh Wadhawan, Chairman of Housing Development and Infrastructure Limited (HDIL), and his son Sarang Wadhawan. 

Conclusion

Failures of urban cooperative banks occur alarmingly frequent. Their numbers, according to RBI statistics, dropped from 1,926 in 2004 to 1,551 in 2018. A small capital base is one of the reasons why cooperative banks fail so often. Cooperative bank regulation by RBI is not as stringent as that of commercial banks. RBI should have greater power over cooperative banks and empower RBI to implement resolution techniques such as winding-up and liquidating banks without involving other regulators under the laws of cooperative societies. 

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IIM Calcutta’s 28th Institute Lecture Series

IIM Calcutta Lecture Series: Indian Institute of Management Calcutta organized the 28th Institute Lecture Series at the institute premises. The talk was delivered by renowned spiritual guide, social reformer, author and educationist, Sri M. The talk focused on “Man’s Search for Happiness”, accompanied by Sri M’s account of his transformational journey, from a young boy to a spiritual leader, driven by discipline and dedication. 

IIM Calcutta Lecture Series

The event started with a welcome address by Shrikrishna G Kulkarni, Chairman, Board of Governors at IIM, Calcutta. He provided a brief introduction about Sri M and spoke about how the spiritual leader has influenced his life as his guide and teacher. 

The welcome address was followed by Sri M’s talk on how the human mind has a built-in tendency to search for happiness. He said, ‘’We search all over the world, forgetting that happiness is resident within us and, only when it is found within us, that we derive the complete satisfaction’’. Sri M further added, ‘one needs to maintain equanimity for praise as well as criticism and that one shouldn’t base his/her happiness and unhappiness on the basis of what others think of them.

He further went on to discuss that meditation has two parts – one is gathering all the energies so that it moves in a certain way and then the effort of finally letting it go. He said that Yoga aims to find a balance between the mind and body and shared some words of wisdom on how to live a better life and how to rejuvenate and maintain a healthy lifestyle.

The talk was followed by an interactive discussion between the students and Sri M. The event concluded with a Vote of Thanks by the Director, Prof. Anju Seth. 

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IIM Kashipur Conducts Its Flagship HR Conclave Samanavya 2019

IIM Kashipur Samanavya 2019: IIM Kashipur successfully conducted its Annual flagship event Samanavya 2019 as part of its Annual Management conclave “Coalescence-2019”, on 18th August 2019 with the theme ‘Evolution to Revolution’. The event started with the lighting of the ceremonial lamp by the guests and faculty. Attendees of the event were taken through the journey of IIM Kashipur and its achievements. Dr. Kulbhushan Balooni, Director of IIM Kashipur cordially welcomed the gathering with the opening speech where he mentioned about the pedagogy, infrastructure, placements and incubation center of IIM Kashipur and invited all the guests in building a better future together. 

Samanavya 2019

The conclave commenced with the first Keynote speech delivered by Capt. Partha Samai, Group Head Human Resources at AGS Transact Technologies Ltd. He talked about how today’s AI software can help out recruiters craft the perfect job description and how the future is going to revolve around AI and EI and how we are supposed to get best out of automation. The second keynote speech was delivered by Ms. Shilpi Saxena, Head Human Resources at Kurlon. She talked about how automation is ubiquitous and how HR has to adopt to businesses that is being owned by young tech-savvy people.

Later, a panel discussion was conducted on the topic “The Proliferation of automation in the HR industry” moderated by Mr. Krishna Rao, Head Coach, and Strategic Consultant at Peepal HR Associates with a panel comprising of some of top people in the Industry. Mr. Raj Kamal Gupta, Director of Human Resources at Dalmia Group, Mr. Amulya Sah, VP & Head Human Resources at IT By Design, Mr. Shrihari Mahale, Head of Solutioning at Sankey Solutions, Mr. Sanjay Abhigyan, Editor – Business Research at Amar Ujala. The discussion focused on how AI and EI complement each other and both are equally important for the success of an organization

Afternoon session commenced with a welcome speech by Prof. Kunal Ganguly, Chair Placements, IIM Kashipur followed by Keynote speeches from Mr. Parthasarathi Mishra, Ex. CHRM, Tata Steel Ltd and Mr. Swapnakant Samal, Head Talent Acquisition Group, Reliance Industries Ltd. These were followed by a panel discussion on Innovative HR: Bridging the gap between GenX and GenY with a panel comprising of Ms. Padmini Punna, Human Resource Business Partner at DSM, Mr. Shivadeep Panjwani, Head Human Resources at Premier Info Assists, Dr. Afsha Dokadia, Head of Learning and Development at L&T Hydrocarbon Engineering, Mr. Abhishek Sharma, Lead – Talent Acquisition at AGS Transact Technologies Ltd. moderated by Mr. L.R.K. Krishnan, Ex. SVP Human Resources at Reliance Communications

The Conclave provided a platform for students to have a fruitful discussion with some of the top-level people in the HR industry which helped in developing an understanding of the current ongoing amalgamation of technology and HR primarily using AI as a tool. This interaction offered students an opportunity to know about the current happenings in the industry and how to evolve themselves to keep up with the ongoing revolution across all the domains.

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Yukti 2019: IIM Amritsar’s Fourth Edition of Annual HR Conclave

Yukti 2019: Indian Institute of Management Amritsar has successfully conducted the fourth edition of its annual HR Conclave, Yukti 2019 on Saturday. Yukti 2019 – the HR Conclave witnessed well-known HR experts from various industries across the country having perceptive discussions on different aspects of Human Resource. Yukti 2019, was one such platform where the industry experts came together, discussed the importance of this digital age and provided thoughtful and factual insights on various contemporary HR practices and potent possibilities. 

Yukti 2019

The theme of the first discussion was ‘Challenges and Opportunities in Employing Gig workforce in India’ and for the second discussion was ‘Accommodating Gen-Z in the modern workplace’.

The panelists in the first discussion included Mr. Bikram Nayak (Head-Human Resources, L&T NxT), Ms. Sonali Majumdar (Head HR, Safari Industries India Ltd.), Mr. Rajendra Mehta (Chief People Officer, DHFL), Mr. Prashant Srivastava (Founder & CEO, The Other 2 Thirds Consulting), Mr. Sameer Mathur (Director HR, Royal Bank of Scotland), Mr. Vivek Tripathi (CHRO, BIBA Apparels Private Limited) and Mr. Ram Dharmaraj (Head HR, Cognizant Technology Solutions).

The panelists in the second discussion included Ms. Yamini Krishnan (Director HR- South Asia, IQVIA), Dr. Yogesh Misra (Vice President, Thomas Assessments Pvt. Ltd.), Mr. Ram Dharmaraj (Head HR, Cognizant Technology Solutions), Mr. Sandeep Tyagi (Director HR, Samsung Electronics), Mr. Sandeep Batra (SVP & Head HR, Vodafone Idea) and Mr. Dilip Sinha (Head-HR, Reliance Retail). 

Yukti 2019: Fourth Edition of Annual HR Conclave

The Conclave commenced with the lighting of the lamp of wisdom & knowledge. Prof. Nagarajan Ramamoorthy, Director- IIM Amritsar welcomed the esteemed panelists. Prof. Nagarajan was glad to host the first conclave as the first full-time Director of IIM Amritsar. He recalled how after passing out of XLRI Jamshedpur as an MBA graduate and entering the industry, he realized the difference between what he learnt in academia and what experience taught him. The challenges, innovations, and strategies are totally different. Prof. Nagarajan said that the nature of the workforce has changed drastically in both India and the USA. The industry is progressing at a furious pace and the challenges will be different in as less as five years. Prof. Nagarajan encouraged the students of IIM Amritsar to gauge and understand the perspective of the industry stalwarts.

Introducing the theme for discussion, IIM Amritsar students delivered a few presentations on the themes of the Conclave and briefly introduced the audience about the rise and prevalence of gig workforce in India and how Gen Z is being accommodated in the modern workplace. The first team of presenters comprising of Mr. Sambhav Jain and Mr. Rahul Sehgal of PGP05 informed the audience that gig economy has been expanding and making inroads through conventional organizational setups. The second team of presenters comprising of Mr. Rishabh Parakh and Mr. Mohit Dugar of PGP05 talked about how modern workplaces are updating their policies and practices to accommodate the incoming Gen Z employees.

Mr. Prashant Srivastava was the moderator of the first session. He began the discussion by posing a question before the students. He asked how many students would prefer to get a healthy salary in the beginning of each month and who are willing to become gig workers and sell their skills and work for new employers. He was visibly impressed by the response by the students who preferred to engage in gig economy. Mr. Prashant highlighted the challenges of gig economy and raised the question of self-actualization among the workers based on Maslow hierarchy of human needs. The challenge also lies in the differing mindsets of the employees and the employers. As corporates, their mindset is American while the employees have an Asian mindset. How we marry the two distinctly diagonal dimensions to land in a win-win situation is the crux of the discussion.

Mr. Rajendra Mehta began by demonstrating that the practices that originate in the USA, when introduced in India shall definitely thrive and become successful. The cities of Delhi and Mumbai have large base for gig workforce. The momentum will continue to build and propagate to the other large cities with population greater than 1 crore. Mr. Rajendra said that gig economy is typically the ‘uberisation’ of skills where spare talent can be utilized for cost optimization.

Mr. Bikram Naik said that the common thinking is to associate gig with delivery boys and drivers and this is how the gig economy actually originated. The underlying thought is to realize that the low skill range workers like cab drivers are working for technology-driven companies and are getting accustomed to the technology. This will definitely lead to sustainability of gig economy in the long run. Mr. Bikram emphasized that the gig workers are essentially ‘engaged’ and not ‘hired’ and this potentially adds to the win-win scenario. While recalling an ‘engagement’ opportunity offered to an air hostess, he realized that social security and loneliness are primary challenges faced by gig workforce.

Ms. Sonali described how for existential purposes in the USA, people began selling their skills for short-term assignments and the trend has only increased since. Ms. Sonali asked the students to ponder that as a social fabric of the nation, are we ready for gig economy considering the security and kind of opportunities that are available. Huge psychological safety net that the corporate setup provides to permanent employees is definitely a challenge for gig economy. The kind of preparedness that corporate needs to have to recognize, understand and accept the new culture of gig workforce and to mete out justice to them is the question to be answered.

Mr. Vivek Tripathi discussed that how unlike a permanent setup, the gig workforce is rewarded for their time and the deliverables they are expected to produce. Mr. Vivek threw light on the various dimensions of gig economy. Some of the dimensions being degree and rarity of skills, your presence at a particular location and the individual’s capability of performing a task from any part of the world. He said that the advantages of gig economy are the control over timing, flexibility, and freedom from organizational policies which encourage the workforce to engage in areas of deep interest. The disadvantages are lack of predictability of income and lack of safety net.

Mr. Sameer Mathur recalled his experience with an intern and beautifully placed the requirements and time to be invested to become an industry leader. Mr. Sameer brought a traditional perspective to the table. He was in the support of fixed income, fixed mindset. If an individual wish for a healthy growth and the aspirations are that of becoming an industry leader then gig economy isn’t the way ahead. Expenses have shot up and lifestyles are continuously getting upgraded. To fulfill these needs one needs to have assurance of salaries on time and work bonuses. Moreover, peer coaching and mentoring from seniors is a luxury of permanent employees. Nevertheless, there is a need to fundamentally follow the gig economy and see how it pans out in the near future.

Mr. Sandeep Tyagi was the moderator for the second-panel discussion. He began the discussion by telling how Gen Z will bring transformation and how scenarios will develop when they enter the workplace. He said that 30% of Gen Z and 40% of GenY will eventually constitute 70% of the workforce in the next year. Most of the workforce would then constitute of people who were born after 1980. The arrival of Gen Z spells a huge paradigm shift for the corporate world. What is their attitude and what skills they bring to the table will be an opportunity and challenge for the industry.

Mr. Sandeep Batra discussed about the changes in the telecom industry and how it has transformed from being a general industry to a specialized industry. The fear of missing out has prompted the various organizations to keep pace with the technology. Regarding the Gen Z, Mr. Sandip said that they are born with the clarity of being in the digital world. Their alliances online and offline make them seamless. Gen Z does not appreciate or respect the hierarchy levels. The expectations of Gen Z are realistic and they want their promises delivered within a timeline.

Mr. Raj Dharmaraj discussed about the ways to engage and motivate Gen Z. One of the hallmarks of Gen Z is inclusion and diversity. They look out for employment brand and appreciate the culture of inclusion and diversity in an organization. Gen Z always looks out for larger meaning and purpose. Mr. Raj talked about the changes that need to be brought in the traditional model of HR policies. He talked about a shift from individual performance management to collective performance management. He also talked about constant feedback system as opposed to yearly feedback mechanism.

Ms. Yamini Krishnan talked about how the panelists began their careers from paper-based models and graduated to dial-up connections at home and eventually ease of accessibility to everything in today’s digital world. On behalf of her organization, Ms. Yamini said that companies have to set expectations and give clear career paths to Gen Z. In terms of opportunities, Gen Z is willing to put in extra hours but is wary of seeing themselves cut off in their personal lives at the same time.

Dr. Yogesh Misra modified the theme of the discussion and urged that as a recruiter he would discuss on “Embracing Gen Z in the modern workplace”. He emphasized on the two perspectives of larger societal changes and the organizational changes while addressing Gen Z. The impact of social media on the well being of Gen Z was also focused upon. Dr. Yogesh said that in today’s world a consumer prefers the convenience of purchase through e-commerce websites. Gen Z would also have a similar consumer-like behavior when they would enter the industry. Gen Z has resources to compare through Google and hence Professors and Bosses are expected to be original and authentic.

Mr. Dilip Sinha talked about how jobs are getting lost and some jobs are getting created due to rapid development. Everyone is investing in technology because of a change in business structure to sustain the competition. He emphasized on describing Gen Z as the backbone of development and technology. Mr. Dilip touched upon the three aspects of ecosystem, functional engagement and behavioral dynamics in an organization to accommodate Gen Z.

The students of IIM Amritsar showed great enthusiasm during both panel discussions. The discussions were made highly interactive through a healthy Q&A session between the panelists and students. The Conclave successfully concluded on a high note at 5:30 p.m. in the evening. 

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IIM Rohtak: Induction Ceremony of the 5-year Integrated Programme for Management

IIM Rohtak IPM: Indian Institute of Management Rohtak organized the Induction Ceremony for the first batch of the 5-Year Integrated Programme in Management on 3rd August 2019. IIM Rohtak is the first IIM to launch an integrated BBA + MBA programme. The induction and orientation programme was spread over four days with distinguished guests, and eminent speakers from different domains interacting with students. 

iim rohtak ipm

Talking about the IPM Programme, Prof. Dheeraj Sharma, Director IIM Rohtak, said, “We, at IIM Rohtak focus on niche areas of management education that will benefit various sections of the society.  Taking this vision ahead, we introduced a full-time 5-Year Integrated Programme in Management for young students after 12th standard, who wish to excel as business professionals in their career.”

“This is an era of super-specialisation in every field. Therefore, through IPM program IIM Rohtak wishes to offer our nation super-specialist in the domain of management program.  This program will have a strong management curriculum to produce well-rounded management professionals who can serve the nation on a variety of platforms”, Prof. Sharma further added.

On the first day, Captain Abhimanyu, Cabinet Minister, Govt. of Haryana, graced the Induction ceremony of the pioneer batch of the Integrated Programme in Management at IIM Rohtak. He emphasised the importance of earning respect among peers through humility, knowledge, and communication. He inspired the students to explore the ever-changing world that is driven by innovative and metamorphic technology while also advising them to be conscious of their surroundings and their time. He encouraged them to create a unique identity for themselves.

Unique, interactive and insightful panel discussions were also organized for the young and new participants of IIM Rohtak with topics ranging from ‘IIM Culture’ to ‘Localization and Globalization in Business’.

On the second day, Shri Manoj Yadava, DGP Haryana, while congratulating the students and parents, said, “Life is a roller coaster, where you need to have your seatbelts on and mind focussed so that it doesn’t take you in a different direction.” A tree plantation drive was organised at the IIM Rohtak campus to symbolically represent the beginning of IPM course. The newly inducted IPM students participated enthusiastically in the drive. This marked a new start for both the institute as well as the students.

Lt. Gen. Syed Ata Hasnain, Chancellor, Central University of Kashmir steered the thinking of students in a new direction on the third day of the ceremony by sharing his experiences while sharing the Indian Army. He encouraged the students on how, even they can serve their motherland by becoming scholar warriors.

Even though being the first batch, it got an overwhelming response from the student community. Institute received nearly 9000 registrations for the admission process that included IPM Aptitude Test, Written Ability Test and Personal Interview. Hence, the first batch being inducted have participation coming from PAN India. Students from 22 states of India are joining the programme. Therefore, this will be a diversified batch with 35% of female students.

Distinguished guests of the likes of Shri Sanjeev Kaushal, Addl. Chief Secretary, Govt. of Haryana, Smt. Anju Sharma, Principal Secretary, Higher Education, Gujrat, Lt. Gen. Sanjeev Anand, Dr Nirmaljeet Singh Kalsi, Former Addl. Chief Secretary, Govt. of Punjab, Shri Vineet Gupta, Founder Ashoka University, among others graced the event and shared life lessons and principals of business that will make the foundation to the five-year-long learning for the young students.

IIM Rohtak is now well-established and well-respected in academia and industry. The only IIM in the Delhi-NCR region, it is the top management institute in the country. The institute aims to build the leaders of tomorrow by organizing various events like these to polish the skills of the students and keep them updated about the current trends in the industry, hence bridging the gap between industry and academia. 

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MICA Ahmedabad Review

MICA Ahmedabad Review: Your own most trusted and No.1 MBA Platform when it comes to credibility among MBA Aspirants and Alumni of top B-Schools, Career Anna, brings to you the flagship B-School Profile Series in a revamped format in 2019. We earlier brought to you FMS Delhi Review and MDI Gurgaon Review. On popular demand, we bring to you MICA Ahmedabad review by putting a comprehensive picture of the institute highlighting the pros and cons and concluding finally with Career Anna recommendation about the institute. Check out MICAT Coaching Course if aiming for MICA. 

MICA Ahmedabad Review

Prominent Courses

Institute Courses Offered

Residential Programs

  • Post Graduate Diploma in Management – Communications (PGDM-C)
  • Fellow Programme in Management – Communications (FPM-C)
  • One-year Post Graduate Certificate Programme in Crafting Creative Communication (CCC)

Faculty

  • MICA has some of the country’s most creative, innovative and credited faculty from the field of Advertising, Strategic Marketing, Communications, Digital Marketing, and Media.
  • There are about 25 core faculty and 7 adjunct faculty at MICA Ahmedabad coming from the top universities across the globe with vast industry experience.
  • More than 80% of them are Ph.D. holders from top universities.
  • Among specializations, there is a good spread across Communication, Marketing, Business Management, Economics, Media & Entertainment, and General Management and most of the faculty remain accessible, beyond the classroom. 

Infrastructure

  • MICA is located in the outskirts of the western Indian city of Ahmedabad with world-class amenities and facilities.
  • MICA Ahmedabad has a well-furnished and air-conditioned library with more than ten thousand national and international books and journals.
  • The air-conditioned campus also provides the students with recreational facilities and a large cafeteria.
  • Other facilities like hostels, gym, sports ground, conference room, auditorium, medical facilities, etc are also available for the students.

MICA Ahmedabad Fees

Fee for PGDM-C programme at MICA Ahmedabad is 19 Lacs. 

Check out MICAT Coaching Course if aiming only for MICA.

MICA Ahmedabad Placement Figures

MICA Ahmedabad Placement Review: Strong Points MICA Ahmedabad Placement Review: Weak Points
  • The MICA Ahmedabad Placement 2019 witnessed 78 companies participating in the placement process.
  • The Highest CTC offered went upto 58.20 LPA and the Average CTC stood at INR 12.80 LPA.
  • The highest number of offers were made in the FMCG and FMCD sector, and IT/ITES, Internet & Technology, and E-commerce sector, with 36 offers each.
  • With hundreds of companies coming on campus with a variety of job profiles, the placement process at MICA Ahmedabad gives students a lot of opportunities.
  • MICA Ahmedabad provides a plethora of opportunities. But nothing comes easy. With huge batch size, there is a cut-throat competition. 
  • Whereas the average salary offered is definitely low when compared to the top 20 B-school.

 

 

 

 

MICA Ahmedabad Review: Admission Process

The selection of the candidates for admission at MICA Ahmedabad is a three-step process:

  • Each candidate must have taken at least one of the three exams: CAT/ XAT/GMAT.
  • All candidates are assessed on MICAT, which consists of 3 sections and the psychometric test is a qualifier. Shortlist will be prepared on the basis of MICAT-1 and /or 2 or better of the two scores if a candidate has taken both MICAT-1 and MICAT-2.
  • All the candidates shortlisted on the basis of their performance in CAT/XAT/GMAT & MICAT shall appear for both Group Exercise (GE) & Personal Interview (PI). 

Career Anna Recommendation

MICA Ahmedabad Rankings 2018-19

MICA Ahmedabad is certainly among the top 10 MBA in Marketing Colleges which Career Anna recommends to students.

MICA Ahmedabad is rated highest for Advertising & Marketing Communications and if one is looking for MBA in Advertising or Marketing Communication, then MICA Ahmedabad is a must to be considered choice.

MICA is the only MBA college which offers micro specializations in Marketing and is rightly designated as Mecca of Advertising and Marketing Communications in India.

Career Anna gives 8 out of 10 rating to MICA Ahmedabad.

Check out MICAT Coaching Course if aiming only for MICA.

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