Our new RBI Governor: Urjit Patel

Mr. Urjit Patel has been appointed as the new Governor of RBI, here are a few facts about him:

1) Patel is one the four deputy governors at the RBI. He heads the monetary policy department.

2) He was appointed by the UPA government in 2013.

3) His term, which was supposed to end this year, was extended by three years in January.

4) Reserve bank officials consider him to be incumbent RBI governor Raghuram Rajan's closest lieutenant.

5) Patel has an M.Phil from Oxford University, and a PhD (economics) from Yale University.

6) He worked on the India, US, Myanmar, and Bahamas desks at the International Monetary Fund (IMF) from 1990 to 1995.

7) He served as an IMF advisor to the RBI from 1996 to 1997.

8) Patel also worked as an consultant with the Department of Economic Affairs of India's Ministry of Finance from 1998 to 2001.

9) Before his 2013 RBI appointment, he was an advisor to the Boston Consulting Group, an American think-tank.

10) A committee headed by Urjit Patel recommended shifting the focus away from wholesale prices, and targeting consumer inflation with an aim to check volatile prices. In March last year, the Reserve Bank and the Ministry of Finance - headed by Arun Jaitley - agreed on a consumer inflation target of 4 percent, with a leeway of 2 percent more or less, by the financial year 2016-2017. The decision to use inflation-targeting is considered to be one of the most important changes to monetary policy since the 1991 reforms.
(Source: various articles, specially from Times of India)

The resume' looks commendable and impressive, lets hope our new governor takes over from where Mr. Rajan left and continue in his noble footsteps.

SMSR wishes the Mr. Urjit Patel all the best!!

The rising inflation: A cause for concern

Wholesale inflation accelerated at a faster-than-expected pace in July, surging to 23-month high of 3.55 per cent on higher food prices. 

Wholesale food prices last month rose 11.82 per cent year-on-year, compared with a 8.18 per cent gain in June. Among individual food items, potato prices surged 59 per cent, vegetables 28 per cent, pulses 36 per cent and sugar 32 per cent.

In June, wholesale inflation had risen 1.62 per cent.

Madan Sabnavis, chief economist, Care Ratings, said until the new harvest comes in September, the pressure on inflation is unlikely to ease.

The consumer inflation data for July, which was released on Friday, also showed an acceleration, with the reading topping the Reserve Bank of India's (RBI) near-term target.

Consumer prices rose at a faster-than-expected pace to 6.07 per cent last month from a year ago, up from June's 5.77 per cent annual gain. Mr Sabnavis said that the price rise vindicates Reserve Bank's strong stance on inflation. 

Prime Minister Narendra Modi in his Independence Day address to the nation strongly backed the government's fight against inflation.

While PM Modi's government is yet to pick a successor to RBI chief Raghuram Rajan, it has bound the next governor with Dr Rajan's retail inflation target of 4 per cent, with a band of 2 percent on either side, for the next five years. 

Article first published on NDTV and has been borrowed for academic purposes only.

So with this rising inflation and the strange spot our job market is in, as an MBA aspirant let us know how do you think the government can stabilise the situation.

Friends, who can understand kannada must spend 50 min and watch this video



https://www.youtube.com/watch?v=BCyxt6lbp6k

The right supplement!

RR (Raghuram Rajan) is a most admired name in India and outside. No doubt he is an  IITian, but IIM and Sloan guided his career and many more like him. Engineering to core with Management to supplement is the best combination. So Engineers, rush to B-Schools to equip yourselves with leadership skills to prove 21^st century belongs to Asia.

 

Women Leaders with MBA

Women…..      Leaders ….     MBA

Ms. Chanda Kochhar                     CEO, ICICI

Ms. Chhavi Rajawat                       First and Youngest Village Sarpanch (SoDa, Rajastan)

Ms. Indira Nooyi                            CEO, PEPSICO

Ms. Rashmi Bansal                        Author, Stay Hungry Stay Foolish

Ms. Shikha Sharma                        CEO, Axix Bank

……………

What's common in them?              MBA !

Ladies, MBA is the best fit program for you. 

RIGHT CHOICE!

UK moving out EU

Supreme Court of India maintaining its supremacy over Arunachal Pradesh verdict

Sereena Williams equals Stefi Graf’s record 22 grand slam victories

Pro-Kabaddi is bringing the old glory of a forgotten Indian game back

As usual PM Modi is continuing his foreign trips

Again fire in Kashmir

Could burst in Himalayas

Spark of terrorism across the globe

In the midst of all this MBA aspirants are wondering about their rankings in the recently concluded PGCET examination. Optimisation of one's preference based on the rank is very crucial at this stage.

Finally students should come out of this with " Yeah that's the best decision I've made", because we make our choices but then our choices make us.

Redesign and Re-engineer (Twist and Tune) MBA Program

Today, all higher education programs are at crossroads. The well-known causes for this state are large number of institutions / universities, quality of the programs, shortage of human resource, policies, unhappiness of industry, attitude, indiscipline, and campus politics. MBA programs in this country are no more an exception.

Though the global market is not encouraging, India’s domestic market is very strong and rural economy is growing. Companies like Maruti, HLL, Vodofone etc, are targeting rural population which is huge and untapped. Union budget again prioritized Agriculture this year. The business around agriculture- fertilizer, seeds, irrigation, Post harvest, transport and marketing, banking, mechanization and automation, exports have good potential in the days to come. Keeping this in mind, it is a good time for tier II and III institutions to redesign and reengineer their program.

The students pursuing and interested-in MBA program should also prepare themselves to grab this opportunity and make a career out of it. They must come out of city based, air-conditioned office and 9-5 mindset.  They should equip themselves with necessary skills, attitude and knowledge to exploit the opportunities.

It is time for admissions to B-Schools, Chose the right school for better prospects and career.

Management Education Tomorrow

Management Education has it’s relevance at all time, more so today and tomorrow. The scenario is no different in India. The fluctuations in demand for MBA program is market driven. Even the institutions pretend to adopt with same old ideology. Hence they fail to meet the industry expectations and adds to variations in the demand. There are institutions which sincerely do their job and mould future managers. Even developing institutions in tier II and III level are working hard to teach for life and fit for career. Candidates must carefully chose the institution looking at the academic excellence, rather physical appearance. Business Administration Graduates essential all walks of life. They need right grooming from a right B-school. Hard workers can make wonderful career. As a first step in this direction Appear PGCET, Score well, Be in good B-School and drive your career to new heights.

PGCET NOTIFICATION FOR 2016

For all the MBA aspirants, PGCET notification is out. You can access the same here ( "http://kea.kar.nic.in/pgcet_2016.htm") along with the model question papers of the previous years.

My expectations and how I realised them at SMSR- An article by Nayana Nanu, IIIrd semester SMSR

When I decided to pursue my MBA I was very particular about what I wanted from the institution I would be joining. My expectations were that the college should be a reputed one, have good experienced faculty, well equipped library, should have good placement record and to top it all should have conducive ambience for personal growth and development with likeminded people and guess what, I found all of the above in BVB SMSR.

Apart from this, the college has on offer the SIIT program which gives us unprecendented exposure to industry and also rural immersion program which provided us an opportunity to mingle with villagers and experience their life style.

I hope to graduate from BVB SMSR with flying colours and enter into the professional world with confidence. 

How to choose the right B-School-Financial times article

The following article has been borrowed from the original source for educational purpose and not with any monetary intention. The article first appeared in Financial Times (ft.com) and is authored by Wai Kwen Chan.

Go through the article to make an educated decision.

http://www.ft.com/intl/cms/s/2/7aeb423c-7d0e-11e3-a579-00144feabdc0.html#axzz3iNvLK2KH

Why one shouldn't book seats in advance!

The following article has been borrowed from the original source for educational purpose and not with any monetary intention. The article first appeared in The New Indian Express and is authored by Rashmi Belur.

This year, colleges have started a new practice — students can pay an advance and book MBA seats even before they write their admission tests.

The authorities say this is improper, and the managements are cashing in on the students’ anxiety. Hundreds of seats went without takers last year. Many colleges are asking aspirants to pay an advance for the 2015-16 courses, beginning mid-September. If a candidate gets a good rank in PGET (Post Graduate Entrance Test), conducted by the Karnataka Examinations Authority (KEA), the college refunds the advance.

If the rank is low, the candidate tops up the advance by paying management quota fees, and keeps the seat. After being provided information by several students and parents, Express contacted some colleges and confirmed the new trend.

CMR Institute of Technology, Acharya Institute of Technology, M S Ramaiah Institute of Technology, and BMS Institute of Technology are among those collecting advances. “Yes, we are blocking MBA seats and the advance varies from Rs 50,000 to Rs 1 lakh,” a CMRIT official said.

Some colleges are even going to the extent of saying they will not reimburse the amount or allot a seat under the government quota. BMS is following this strategy. “We are blocking seats for MBA courses, but that is only for the management quota. The advance is Rs 1 lakh and the rest is collected at the time of admission,” a college official said.

RNS also follows this policy. When Express called, a staffer said, “The fees for a management quota seat is Rs 3.7 lakh and it can be blocked with Rs 50,000. Whatever the rank of the student, the seat will remain management quota.”

Acharya Institute Technology, which runs Acharya School of Management, charges Rs 6 lakh for an MBA seat, and is asking for Rs 2 lakh as advance. A student who reserved his seat there told Express, “I got to know about the booking through one of my lecturers and paid Rs 2 lakh.”

KMAT, the entrance test for management quota seats, was conducted on August 2 and PGET, the test for government seats, is slated for August 8 and 9.  

The KEA says about 24,000 MBA seats are available, with half the number coming under the concessional government quota. “It is a fact that everyone who writes PGET gets a government quota seat as the number of aspirants has come down. In 2014, 40 per cent of management quota seats went unclaimed,” said a KMAT official. About 220 colleges offer MBA in the state. Some are affiliated to the Bangalore and Mysore University and Rani Chennamma University, and the rest to Visvesvaraya Technological University, Belagavi.

It is Wrong, says vtu v-c maheshappa

H Maheshappa, Vice-Chancellor of Visvesvaraya Technological University (VTU), said, “Colleges should not admit students without PGET and KMAT ranks. If we receive complaints, we will initiate action.” He also said the fee fixed for a government quota seat was just Rs 50,000, and colleges ought not collect the amount ahead of other procedures. “Everything should be done after counselling,” Maheshappa said.