a mba march2016

Advanc’edge MBA October 2012 3

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A long time ago, there was no established religion. The world’s peoples were a largely a pagan bunch, worshipping not idols of gods but symbols of nature. Rain, sky, water, fire, were revered, and most importantly (perhaps the most significant difference from the world of today), woman enjoyed the same standing as man. In fact, in many ancient cultures, the high priests and individuals who supposedly communed with the divine were women.

Fast forward to today, and the contrast is stark. The fairer sex has come a long way from being downtrodden, although such subjugation still exists in many parts of the world. In most developed and developing economies, there has been a definite shift towards accepting women in professions hitherto considered to be the domain of men. The fact that women have excelled in most, if not all such areas, speaks volumes of their capacity and capability. As I write this, I realise how unfortunate it is that we still have to convince the world of women’s capabilities, instead of the automatic acceptance apparently reserved for men!

Now that I have waxed eloquent on the topic, you should head over to the Countdown section of this issue of Advanc’edge MBA, where you will read about women who have made their mark on professions that are stereotypically dominated by men.

This happens to be the last issue you will read before you join a business school. To that end, we have compiled a list of golden words of advice, straight from the horse’s mouth. Students of the top B-schools in India have shared their thoughts on how you should spend the next two years at your business school, to make the most of your MBA programme. Heed their words, as they’re the best and most relevant for you.

Finally, a few words from me to you, dear reader. You’ve crossed the biggest hurdles, and gotten that dream admission. But the journey hasn’t even begun, believe you me, your entire career stretches in front of you, and how it will turn out to be, depends completely on the way you spend your time at your business school. Stay aware of what’s happening around you, listen to your peers as diligently as you follow your professors. Don’t get caught up so much that the stars in your eyes divorce you from the reality. And whatever you do, work hard, work hard, work hard. The rewards that follow, I assure you, will be priceless.

I wish you all the very best.

FORM IVStatement about ownership and other particulars about newspaper Advanc’edge Mastering Business Acumen.1. Place of Publication : Mumbai2. Periodicity of its publication : Monthly3. Printer’s Name : Kamlesh B. Sajnani Nationality : Indian Address : E Block, 6th Floor, NCL Bandra Premises, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.4. Publisher’s Name : Kamlesh B. Sajnani Nationality : Indian Address : E Block, 6th Floor, NCL Bandra Premises, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.5. Editor’s Name : Kamlesh B. Sajnani Nationality : Indian Address : E Block, 6th Floor, NCL Bandra Premises, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.6. Names and addresses of individuals who own the newspaper and partners or shareholders holding more than one per cent of the total capital. Kamlesh B. Sajnani, Valhalla CHS, Nirvana, Plot No.151, Corner of 24th & 30th Road, Bandra (W), Mumbai - 400050.

Disclaimer : The views expressed in the articles by contributors and others are not necessarily those of the Publishers, unless specifically stated therein. While no effort is spared in ensuring the accuracy of the information published herein, readers are advised to reconfirm the current facts before acting upon any such information. The Publishers regret their inability to accept responsibility for any inadvertent errors of commission or omission in this issue. Readers are recommended to make appropriate inquiries before incurring expenses or entering into commitments in relation to any advertisement appearing in this publication. The publishers do not vouch for any claims made by the advertisers of any products or services. The Publisher, Printers or Editor shall not be held liable for any consequences in the event of such claims not being honoured by the advertisers. All rights reserved. No part of this publication may be reproduced, in any form or means, or stored in a database or retrieval system without prior permission from the publisher.

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MARCH 2016CONTENTS

STUDY HOURTest Q&As

Word Dose: Thievery in Cyberspace

GlobescanSuDoKu

5154

565 8

COUNTDOWNWomen in stereotypically

male professions

32

WOMEN’S DAY SPECIAL REPORTScarcity of women leaders in business: A study

25

MBA BUZZFinancing your MBA dream

14

COVER STORYMaking the most of your MBA course

06

IMSUCCESSFULIMS congratulates its

CAT 2015 TOPPERS

12

ALUMNI SPEAKRITIKA BIHANY

Customer Centricity Manager, Asian Paints

22

CORPORATE WORLDSmart cities: How will they work?Discussions and outcomes at World Economic ForumIndia’s economic scenario: Ups and downs

3639

42

SNIPPETSNews in brief

46

MUST READSSurely You’re Joking Mr FeynmanThe Effective ExecutiveWater for Elephants

50

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Advanc’edge MBA March 2016 5

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Advanc’edge MBA March 20166

Making the most of your MBA course

The Advanc’edge Team

You are on the threshold of your MBA programme and your real future begins now. How should you spend the next two years to derive the most from your B-school? Find out from those who have beaten the MBA admissions game themselves.

SoumyadeepChakrabartiIIM Ahmedabad

Life in a B-school can be exactly what you want it to be. The flexibility offered by an MBA is unparalleled. But the best part is that along

with this freedom, you will be bestowed a self-belief, discipline and hard-working ability which might sound like oxymoron in the same sentence as freedom, but this is essential for success. Before coming to IIMA, I thought the peer-learning was overhyped, but now I think every word of it was true. The class discussions, study group assignments and in-general interactions take the learning to a completely different level. Just make sure you meet the challenge head on, making best use of the opportunities here, and not sleep away your two years!

Gompa Kumar Satyamurthy

IIM Bangalore

B-school provides immense opportunities to students in the two years. So it is important to utilise the time in the best

possible manner. It’s a place where there is no room for average. So you need to prioritise your goals and be the best possible person in your own domain. And that can only happen with hard work and diligence towards the tasks given to you. Once you acquire the knowledge, you will gain self-confidence and that will hold you in good stead for your stint of two years in a B-school. Interacting with the professors is a good idea and that will help you not only with the academics but also get a glimpse into the industry you are headed for.

IpsitaMishraSP Jain

One common thread connecting all B-schools is that there’s always a lot to be done. Along with academics, you get involved with corporate and inter B-school competitions, corporate projects,

festivals, committee work, internships and many other activities. It’s very important to prioritise what you want to do and chalk out a plan for yourself based on your interests and skills early on. This will help you navigate the MBA with a purpose. Apart from that, networking, honing skills that give you an edge, staying updated on current affairs are a few things that you are expected to do throughout your course.

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SarthakNayakIIT Bombay

The two years in a B-school is an amazing experience. There is always so much to do that one is always running short on time.

Along with diligence towards education, it’s also important to be active in the co-curricular activities. In these two years, it is advisable to talk to industry experts and gain a broader perspective on the things happening all around you. The entire stint at a B-school is filled with events and competitions. You need to participate in them as these will give you self confidence along with helping you to grow professionally.

Networking is very crucial in MBA. The more contacts you have in the industry, the better idea you will have about management.

Samveda Sharma

MDI Gurgaon

MBA provides the right mix of academic rigour and experiential learning. The course itself is designed to cater to the

needs of the industry, and MBA students are equipped to hit the ground running as soon as they graduate. Foreign exchange programmes, guest sessions by industry leaders, a two-month summer internship at reputed firms and live projects provide students with opportunities to learn about the different sectors and gain domain insights useful to make a career decision. So, I would advise students who are interested to take up management studies, to work tremendously hard and make the most of these two ‘awesomest’ years of their lives.

Zankar Kumar ShahNMIMS

Well, I feel everyone has his or her own definition of how to make the most of the two years in a B-school. So there is no fixed rule. However, I feel

it is better for students to set goals from the very beginning as to what he or she wants to achieve in the two years.

I would advise them not to restrict themselves to merely books. There are lot of options to participate in competitions and multiple activities. Try and participate in them as much as possible. Building contacts is extremely crucial in this phase. So hang around with your peers and seniors. But among all these, you have to remember that scoring well in exams is also important, so study hard along with all the other activities in the B-school.

VarunDas

IMT Ghaziabad

An MBA is a very different experience from what you have been used to. The best thing you can do is to get out of your comfort zone. You will be

in a safe and sheltered environment. So make plenty of mistakes (not the “invade Russia in winter” type!). There is no better way to learn. You are going to meet some amazing people during the two years. Try to work in diverse teams, debate and discuss ideas, and work hard, really hard. The pay-out will be sweet. Above all, don’t forget to have a great time!

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Kshiteesh KolheIMT Ghaziabad

Life at a B-school is all about the priorities you set for yourself. Make sure you make the most of the resources available. There are case study

competitions, fests, sports, seminars, guest lectures, being part of clubs/committees and much more. However, you have to remember that at the end of the two years, all that matters is your CV. And, the period in these two years is the last chance that you will get to make it look good. So make the most of the two years, gather as much experience as possible and at the end of the day, have fun!

JobinJacob

MDI Gurgaon

The single biggest advantage of studying in one of the top B-schools of the country is the kind of peer group that you are exposed to. The sheer diversity in backgrounds

and profiles opens up so many avenues for learning which, at times, are far more profound than the in-class exercises. Where else will you find fresh graduates sharing desk space with professionals having five years of work experience, or commerce grads rubbing shoulders with science, fashion, engineering graduates? Life at a B-school is simply amazing with so much happening around you. So make the most of it in the two years that you get.

Ganesh SashankMDI Gurgaon

I think that the best way to make full use of the two years of MBA is to join special interest groups and the myriad clubs available

on campus. Be it dance, music, quizzing or debating, B-schools have a club or two to cater to everybody’s interests. Invariably, each batch would have some accomplished sportsmen/women or artistes, who have achieved success at national level. As part of clubs, one gets a chance to learn from such individuals and mutually benefit. Apart from this, there are academic clubs that are focused on increasing expertise in specific functions like marketing, finance, HR and others through which students get an opportunity to satiate their curiosity about contemporary events and research in particular domains of interest.

AkshayNayak

NMIMS

Two years in a B-school are very crucial and how you spend that time can have a good impact on your CV as well. I feel it’s a lot to

do with what one chooses as the specialisation subject. People who have opted for finance should augment their CVs with relevant specifications. Many of them come from an IT background and don’t know what is needed. They must make their decision in a very calculated fashion. It is good to be aware of what to expect from a B-school and set your own goals from the very beginning. The two years are going to be very hectic. And always remember that you are on your own, since no one is there to help you. But at the end of the day you are putting in the hard work for yourself alone and learning to be self reliant. So the rewards are going to be satisfactory as well.

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DigantaSarkarIIFT

My experience thus far at IIFT Delhi could be summed up in three words – varied, sleepless, and cherish able.

The first few months passed in as if a utopia; that of acclimatising myself to the pace and rigorous regimen of MBA life. But as the months have gone, and people have settled in after the hectic competition of summers, it has become very worthwhile.

My advice to all aspirants would be to remember that for an overwhelming majority of you, an MBA would be the last bit of student life. Hence, push yourself; but at the same time, be sure to enjoy.

SampadPattanaik

IIT Bombay

Time management is of prime importance for any B-school student. In my opinion, as a student if you have learnt how to

effectively manage your time, life will be a lot easier for you. As an MBA student, you will be always expected to be proficient in MS Excel and MS Powerpoint. Presentations are an integral part of an MBA student’s life. So, start enjoying the work that you get to do in the B-school so as to make the most of the two years. I would like to end by stating that MBA is an excellent opportunity to collaborate, learn and develop one’s own self. So work hard and enjoy the two years to the fullest.

NatashaAgarwalJBIMS

Life in a B-school is a completely different ballgame when compared with the life before it. If normally you are progressing at 50 KMs per hour, after joining an MBA college,

things start happening to you at 200 KMs per hour. It’s that much different. And, things happen so fast that at times it becomes a little difficult to get a proper grasp of things. So, I would suggest that you develop a clarity on your likes and dislikes from the very beginning. If you know what you want from the very beginning, life at the B-school will be more or less sorted. It is better to focus on a few things rather than pursuing everything that happens. Take up opportunities like internship, live projects and competitions. Remember, in a B-school there is no one to drive or guide you. So keep motivating yourself every now and then.

Shankar Ananth

MDI Gurgaon

For me, the best way to make use of the two-year stay at a B school is to participate in the numerous competitions organised by corporates and other B-schools. Mahindra

War Room, L’Oreal Brandstorm, Deloitte Maverick, Tata Steelathon and others are National Level competitions featuring real life cases and challenges faced by the leading corporates of our country. Participating in these competitions not only sharpens your mind but prepares you for the big stage. Apart from these, Young Leader Awards and Youth Icon Awards are given by firms like Economic Times, NHRDN, Aditya Birla Group, which allow the students to compete with the best in the country and test their mettle.

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SachinGuptaIIM Ahmedabad

MBA is more about getting knowledge at a broader level. Your success during and after MBA is determined by how well you can connect the dots distributed across various

functional fields. The first year covers the core courses and gives you business knowledge. Second year allows you to experiment by offering loads of electives. The middle of the second year is packed with semester exchange programmes which are very interesting. It’s crucial to identify the functional areas of business and explore them. Don’t consider your peers as competitors; treat them as your companions in journey because after graduating these very people will give you an extensive network of professionals spread out across industries. Networking is important especially when you move into executive positions or you begin to start-up because you leverage your contacts to get business.

Mohan Raj

IIM Bangalore

Be open to diversity that one would have at a B-school. Interacting with people from varied backgrounds helps to increase your knowledge span. Make use of the opportunities in a B-school

and learn new things. Make it a point to interact with faculties from different fields.

The more you interact with them personally, the better will be your insights about different fields and this further will help you determine the career path you would want to pursue.

The final point that I would like to make is, enjoy every minute of your life because at the end of the day, when one looks back, one would want a lot of good memories to ruminate over.

Rohit Shobha Musale IIT Bombay

My perspective is that people need to enjoy student life as much as possible along with having loads of fun. MBA life

is not just about classroom studies, there is a lot more to it and that is what makes the two years so dynamic. Here are activities like corporate case competitions, competitions from other B-Schools and many other activities. Along with the learning from the lectures of the professors, there is also a lot to learn from the peers, through these competitions and other group activities. MBA education is completely different from college education during graduation. So my advice to the students is to work hard and make the most of the two years in the B-school.

RiyazAhmed

FMS

Well, students need to know what his or her main concerns are during the two years. There are a string of activities

going on, so you need to be active in them. This way your personality develops in a dynamic way and you get to interact with a lot of people in the campus, thereby boosting your contacts. Developing a good network is extremely crucial not only for the two years but later as well. Make the most of the summer internship as this is the time you can make crucial corporate connections. And one more thing, associate yourself with one of the societies in the B-school, as per your liking or inclination, like Marketing Society, Finance Society and others so as to make yourself visible.

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IMS congratulates itsCAT 2015 TOPPERS

Chirag Jha

Nikhil Nayak

Nishchay Budhiraja

Sabyasachi Mishra

Shounak Chakraborty

Prateek Bajpai

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INNOVATION @AIMSR

Aditya Institute of Management Studies and Research (AIMSR) is one of the institutes for Management education in Mumbai. It has an enviable growth trajectory as a B-School for student intake, live project, corporate interaction, placements, academic rigor and co-curricular charm . Awarded as ‘Best B-School who Innovates in Teaching Methodology ‘ by DNA & Star Group in ‘7th Innovative B-School Award 2015’ AIMSR believes that Innovation is powerful tool for Development and Change.

1.Over the years, the strategy of management education has drastically changed. What major patterns / changes have you seen? And foresee?

Since its inception at the start of last century management education has gone through various phases. Up to mid Fifties most of World’s renowned institutions were created especially in the West. These institutions were in need of quality Faculty and other resources.The next 25 years management education was at a boom and the number of graduates worldwide rose multifold annually. Business Schools were the important suppliers of managerial talent to U.S. companies.After 90s management schools flourished and were challenged to make the curriculum more relevant to the business needs.Today we are at threshold in the field of management education. B-Schools have two options –First they can continue to do business as usual and risk growing irrelevance, alternatively they can re-visit their mission and objectives and come out with agenda that have significant value for both students and society.

2. What makes AIMSR a coveted institute to study in?

A solid foundation of conceptual knowledge is essential to effective performance and is what provided in AIMSR through the formal instruction and learning experiences. The coverage of both – pertinent business concepts and ways of thinking in a rigorous and logical fashion is focused on in AIMSR. This knowledge is translated into action by providing action skills at AIMSR. Each classroom gets converted into an Action Skills Lab.

3.Core academics and soft skills training – do you think it is necessary to be adept in both to be successful? How does it help?

Effective communication and interpersonal skills are crucial to increase employment opportunities and to compete successfully in the business environment .The real key to the effectiveness of professionals is their ability to put their domain knowledge into effective practice. In this context soft skills has a crucial role to play. The soft skills program is about enabling and empowerment. With these training programs students’ have a smooth transition from aspiring students to young successful managers.

4.What should be the Top 5 things that one should keep in mind before getting into an entrepreneurial venture?

• Define your Motivation• Evaluate yourself on working with others• Take stock of whom you know• Test your scalability• Examine the market and competition

D. Manoj Bhatia, Director at Aditya Institute of Management Studies and Research believes a holistic approach towards management education.

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I t is a fact that an MBA degree from a reputed management institute

provides the best returns on investment in the form of high salaries. Over the years, all the top management institutes, including the IIMs, have been raising their fees for their MBA programmes consistently and significantly, and this investment is certainly not a meagre one. Let us take a look at the economic costs of an MBA and at some of the important things that should guide your decision in this respect.

Tuition and living costsTuition costs make up a massive part of all MBA expenses. The fees are different for different universities and vary widely with courses. Once a student decides his budget and passes the necessary tests, he is free to decide the institute of his choice. Tuition fees differ as indicated; some include living costs in their fees, some include the costs of reading material; a

few are inclusive of all expenses. Fees vary from `17.7 lakh at IIM Ahmedabad for the batch of 2015-17 (other expenses not included) to `13.75 lakh at IIM Kozhikode (boarding fees extra) to XLRI’s `16.8 lakh. At the same time, you also have IIT Delhi’s Department of Management Studies charging approximately `4 lakh for the four semesters as tuition fees. The annual fee at FMS, University of Delhi is `10,500 approximately and is definitely the lowest in the world among truly high-quality MBA programmes.

Living expenses in India are not as high and the cost of living in college hostels is strictly dependent on the college or universities. In government run institutes the costs are nominal; it can start from as low as `6,000 per year but go up to `60,000 per year. The cost of private hostels, too, varies according to the city and the available facilities.

So, financing one’s management education is no longer a cakewalk for all. There

have been serious debates in all circles on whether achieving an MBA dream will eventually be restricted to the moneyed lot. Fortunately, however, finances are less than likely to pose a constraint for the truly meritorious, given the options of bank loans.

Bank loansThere was a time when loans for education were not something that the Indian psyche accepted very readily and the general tendency as a student was to shy away from any arrangement that would impose any financial debts. Over the years, this mindset has changed, given the rising costs of professional education, the simultaneously rising returns on an investment therein, and the emergence of a generally bolder and economically more robust generation.

Several banks have come forward to help students finance their chosen programmes in higher education in the country

Financing your MBA dream

If you are a deserving candidate and have secured admission to a good school on

the basis of merit, paying your way through B-school may not be as huge a challenge as it is sometimes made out to be. Scholarships aside, there are several banks

that offer loans to fund your MBA education.

The Advanc’edge Team

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and abroad through education loans at really reasonable interest rates these days. An education loan will allow a student to pay for education, living and personal expenses incurred during the course of the programme.

What is an education loan?Essentially, an education loan provides financial assistance to pursue a college or vocational course in India or abroad. The loan amount will cover the tuition fee, exam fee, living expenses (hostel charges), equipment fee (laptops, study material, etc), travel expenses for passage abroad, etc. A few additional costs may be covered depending on the scheme and the bank that is sought out. Banks usually don’t have conditions such as minimum qualifying marks in the last examination, or margins and securities for loans up to `4 lakh.

Apart from freshers, there are schemes for working executives as well. There are quite a few public and private sector banks that provide loans to working executives who join a course in the middle of their career. These are called “Career Development Schemes” by a few. For instance, the Bank of Baroda has a scheme called Baroda Gyan, aimed at already employed persons who intend to pursue higher education, vocational courses, trainings, skill upgradation, diploma or degree courses, etc in India and abroad. This is certainly a leg up for future management leaders who wish to acquire higher, specialised managerial skills.

Questions to ask before you apply for a loan• What expenses and fees are

covered by the loan?• What is the maximum amount

that can be availed?

• What is the rate of interest?• Is a guarantor required?• Is any collateral required? If

so, how much?• How long will it take for

the loan application to be processed?

• What are the payback procedures and terms?

Need for a guarantor and collateralMost banks have done away with collateral requirement for loans up to `4 lakh. For higher amounts, one would need to present details of collateral security, which is valued by a valuation authority approved by the government. In some cases, depending on the loan amount (usually over `4 lakh), banks also ask for a third party guarantor.

For very high loan amounts, the collateral should be in the form of immovable property or transferable securities. Having a life insurance policy can be beneficial to a student who wants to avail a loan. The bank also benefits from such security; therefore, a few banks provide an insurance cover to a student who avails an education loan (for instance, the Union Bank of India has provisions for an insurance policy in their education loan scheme).

Tie-ups that helpMany of the leading banks have tie-ups with premier institutes like the IIMs, IITs, XLRI, etc to name a few. The State Bank of India and Bank of Baroda are a few such banks. This is helpful for many students, as they do not have to search for the best loan deal with the lowest interest from a host of banks. These tie-ups provide students easy access to loans at the best interest rates and a reduction in the loan processing time.

For instance, Allahabad Bank has drawn up a list of over 80 educational institutes whose courses it will finance, and it has special rates for IIMs/IITs/ISB etc. The bank also provides lower interest rates for girl candidates.

To summarise, female students with admission to premier institutes really have an advantage in terms of the interest rates on education loans. On a more general note, students who have secured admissions to some of the new or upcoming institutes may have to try harder to convince the bank to give an education loan.

Important things to note before you apply for a loanUsually, students opting for professional courses tend to

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• B-school admission letter along with details of year-wise fees and other expenses

• Scholarship letter (if any)• Attested copies of birth certificate (or any other proof of age) and

proof of residential address• Passport size photo of the applicant, co-obligants and guarantors• Copies of mark sheets / degree certificates of previous academic

qualifications• Income proof / latest income tax returns of co-obligants,

guarantors (if any)• Details of collateral security along with valuation certificate of

government approved valuer (if any)• Last six months’ bank statements of the applicant / co-obligants /

guarantors (if any)• Copy of passport/visa, cost of air tickets in case of studies abroad

Following is a list of documents generally needed while applying for the loan (this will again differ between banks):

get loans smoothly and much more easily than those choosing to pursue higher studies in the liberal arts or sciences. It is important to understand the eligibility criteria stated by each of the banks. Each of the banks has its own set of preferences when it comes to assessment of a loan application; some may stress on good academic record, while others may have age constraints.

For instance, it is seen that typically, education loans can be availed of within a 15 to 35 years age bracket. HDFC Bank, for example, has an age bracket of 16-35 years for its education loan. Some banks insist on financing only certain kinds of courses or programmes from select institutes.

However, the general eligibility criteria followed by most banks in India are as follows.

The candidate seeking a loan must be an Indian national and must have secured admission to the programme intended for study on merit, i.e., either based on individual academic performance or the screening test scores (like CAT/XAT/GMAT/SNAP/NMAT, etc to name a few).

Banks also insist that one should not have any outstanding education loans from other banks/institutes.

How to applyMost banks now have the provision for an online application for an education loan. After all the research and information gathering process is complete, one can visit a representative of the nearest branch of the bank chosen.

So, to summarise, management education is booming, and recruiters are constantly on the lookout for good talent from the top B-schools. Avenues for funding are ample and one just needs to be aware and informed. At the end of the day with funds secured, the decision should largely be guided by the rationale behind studying for an MBA and the immediate expectations from it. A

SCHOLARSHIP SCHEMES

The second of the two major avenues of financing your MBA programme is to apply for scholarships. There are several scholarship schemes available for needy meritorious students and for minority categories. Some of the major scholarship schemes are listed here.

OP Jindal Ma nagement ScholarshipThese scholarships are awarded by OP Jindal Group. The selection is based on the academic performance, an online leadership test and a personal interview.Eligibility – Top 10 students of 2nd year (based on their academic performance). Amount – `1.5 lakh.Institutes – FMS, IIM-A, B, C, I, K, L, Ranchi, Raipur and Rohtak, Jindal Global Business School, MDI, SPJIMR, XLRI, JBIMS, IIFT.Date – September

NDPL scholarshipThe focus of North Delhi Power of the Tata Group is to reduce the school dropout rate and encourage students hailing from the SC/ST communities to study further. NDPL aims to create an annual pool of 150 students studying in 26 government schools at pre-board levels. Eligibility – The students’ eligibility is based on a means and needs basis.Amount – `7 lakh per annum.Number of scholarships: 10

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ONGC SC/ST Merit cum Means ScholarshipsInstituted by the ONGC, scholarships are awarded to the selected SC/ST candidates yearly to the eligible students.Eligibility –• The students must be in their first year of master’s

degree, not older than 30 years on October 1st of the academic session of the year of the announcement of the scholarship

• The students must have obtained 60% in graduation or 6.0 on a 10 point grade scale.

• Gross annual income of family should not be more than `4.5 lakh p.a. (`37,500 per month).

Amount – `4,000 per month.Number of scholarships – 73Date – August to November

Aditya Birla Group ScholarshipCovers part of the academic fees, hostel fees for the duration of course, commencing with the academic session of the first year. Eligibility – Applicant must have featured in the top 25% of the batch population. Also, at least 60% of the assignments must have a rating of 7 on a 9 point scale. Assessment is also done based on participation in a minimum of two forums of campus as well as the assessment of learning. Applicants must also submit a 250-word write-up on “Being an Aditya Birla Scholar - experience sharing”.Institutions – IIM (A, B, C, L, I, K and S), XLRIAmount – `1.75 lakh per annum.Number of scholarships – 16Dates - There is no last date for application as these are given as long as the funds last. Students have to contact their institution to apply for this scholarship. Forms are available only through the institution.

Guru Harkrishan Educational Society Scholarship GHES primarily focuses on giving financial assistance in the form of scholarships to the needy students especially in the field of vocational/professional education.Eligibility –• The student should have passed the previous

qualifying exam with 60%. • The total income of the student’s family should not

exceed `10,000 per month, excluding house rent and medical allowance in case of employees.

• The applicant should not be in receipt of scholarship from any other source.

Amount – The amount of scholarship is based on the tuition fee. Normally, it amounts to tuition fee plus a minimum of 25% of the fee, subject to a maximum of `600 per month.Dates – Mid-September

IndianOil Academic ScholarshipThe company awards educational scholarships to meritorious students across the country with special focus on girls and physically challenged. The students are selected based on their marks in the qualifying examination.Eligibility –• Students of two-year full-time postgraduate

management courses recognised by Central/state governments/Association of Indian universities and which are equivalent to MBA.

• Family should not exceed `1 lakh.• Candidate cannot be over 30 years of age.• Minimum eligibility marks – 65% (General), 60%

(SC/ST/OBC/Girls), 50% (PC)• Gross joint family income from all sources should

not exceed `1 lakhAmount – `3,000 per month.Number of scholarships – 100 Dates – October.

Narotam Sekhsaria Foundation Loan ScholarshipThe foundation awards interest free loan scholarships to Indian students with a consistently good academic record for postgraduate studies at prestigious institutions in India and abroad. The scholarship is awarded after a screening process and personal interview.Eligibility – Indian nationals below 30 years of age Amount – up to `20 lakhRepayment will commence one year after course completion as per the following schedule: 1st year after course completion: Nil 2nd year after course completion: 30% of the scholarship amount 3rd year after course completion: 35% of the scholarship amount 4th year after course completion: 35% of the scholarship amountDate – January

Sanjeevani ScholarshipThis is a scholarship programme given out by NGO Sanjeevani.Eligibility – CAT/MAT/MET score + graduation percentage.Amount – `36,000 per annum.Number of scholarships – 10Dates – Mid-August

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India Talent ScholarshipThis is sponsored by Societe Generale under its Global Solution Centre Talent Scholarship Programme. It promotes professional education for needy individuals selected for a full-time course in an accredited university and who do not have the financial means to enroll.Eligibility – Merit-cum-means, interview processAmount – Entire course fees, plus mentoring by a member of the SG GSC team.Number of scholarships – 10Dates – Students have to apply after admission into first year.

Scholarships for SC/ST studentsGovernment of India-sponsored financial assistance.Eligibility • All Indian SC/ST nationals whose family income is

not more than `2 lakh per annum.• The applicant cannot hold any other scholarship or

stipend.Amount – `1,200 per month for hostellers, `550 per month for day scholars.Dates – To apply via institute immediately after admission.

Bharti Scholarship and Mentorship ProgrammeFor academically bright youth from financially weak families. Eligibility – Merit-cum-means.Amount – `50,000 per annum.Number of scholarships – Currently the programme supports 232 scholars across the country.Date – November

T Thomas ScholarshipThis scholarship is sponsored by Hindustan Unilever Limited as part of the company’s corporate social responsibility.Eligibility – Merit-cum-means as decided by HUL.Amount – `1 lakh.Institutes – IIM-B, IFMR Chennai

His Holiness The Pope ScholarshipFor students with good conduct and satisfactory progress in studies. Amount – `2,130 per annum for two years.

Bank Base rate (BR)

Interest rate per annum

Maximum quantum of loan (in INR lakhs)

Eligibility

Axis Bank 9.50% Up to `4 lakh = BR + 7%, `4 to 7.5 lakh = BR + 8%, more than `7.5 lakh = BR + 6%, Girl child = less 0.5%

10 Indian national, secured admission to the institute on merit

Bank of Baroda 9.65% Up to `7.5 lakh = BR + 2.5%, more than ̀ 7.5 lakh = BR + 1.75%; Girl child = Less 1%; ISB= less 2%, 1% concession for IIMs, IITs, IIFT, XLRI, MDI, SPJIMR


Bank of India 9.70% Up to ̀ 7.5 lakh = BR + 3%, more than `7.5 lakh = BR + 2.5%, Girl child = less 1% for loans above `50,000

10 Indian national, secured admission to the institute on merit, admission to IIMs, IITs, XLRI, awnd other institutes set up by Central/State Govt

Bank ofMaharashtra

9.70% Up to `4 lakh = BR + 2.5%, `4 to `7.5 lakh = BR + 2%, above `7.5 lakh = BR + 1.25%


BANK LOAN

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Bank Base rate (BR)

Interest rate per annum

Maximum quantum of loan (in INR lakhs)

Eligibility

HDFC Bank 9.30% Not provided 10 Indian national of 16 to 35 years of age, secured admission to the institute on merit

IDBI Bank 9.75% Up to `10 lakh = BR + 1%, more than `10 lakh = BR + 2%

10 (30 for IIMs, IITs and ISB, or 95 % of the total cost of the program (Inclusive of insurance cover) whichever is lower)

Indian national, secured admission to the institute on merit

Indian Overseas Bank

9.70% Current floating interest rate; up to `4 lakh = 11.7%, `4 to 7.5 lakh = 12.95%, more than `7.5 lakh = 12.7%


Punjab National Bank

9.60% Up to `4 lakh = BR + 2%, `4 to 7.5 lakh = BR + 3%, above `7.5 lakh = BR + 2.5%

Need based, subject to repaying capacity of the parents/students (after

completion of course)


State Bank of India 9.30% BR + 0.4% (IIMs, IITs, ISB, XLRI, MDI, BITS) BR + 0.65% (NMIMS, GIM, IIFT, IMI, NITIE, SPJIMR, SCMHRD, SIBM, XIMB, less 0.25% for work experience more than 2 years) BR + 1.9% (Others)

30 without collateral (IIM-A, ISB) 30 with collateral, 20 without collateral (other IIMs, IITs, ISB, XLRI, MDI, BITS) 20 without collateral (NMIMS, GIM, IIFT, IMI, NITIE, SPJIMR, SCMHRD, SIBM, XIMB) 7.5 without collateral, 30 with collateral (others)


UCO bank 9.70% Upto `7.5 lakh = BR + 2.5%, more than `7.5 lakh = BR + 2.25%

10 Indian national, secured admission to the institute on merit, maximum age 28 yrs (30 for SC/ST) for PG courses

Union Bank of India 9.65% Up to `4 lakh = BR + 3%, `4 to `7.5 lakh = BR + 2.75%, above `7.5 lakh = BR + 2% (fixed), 0.50% concession for female students


Central Bank of India

9.70% BR + 2%, less 0.5% for girl child, IIMs/IITs


ICICI Bank 9.35% 11%, 0.5% less for girl child 10 Indian national, secured admission to the institute on merit

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Indian Education Society’sManagement College and Research Centre

‘Vishwakarma’ M. D. Lotlikar Vidya Sankul, Plot No. 791,Shri Krishnachand Marg, Bandra Reclamation, Mumbai - 400 050.

For all admission details and procedure,Please visit: www.ies.edu/management or Call on: +91-22-61378329, 61378330, 9029201800

Admission Processing Fees - Rs. 1,200/-Online Application Forms can be submitted from Wednesday, 15th January, 2014

ADMISSIONS

AICTE Approved Two Year Full-Time Programmes

Indicative List of Recruiters

Alembic Pharma, Axis Bank, Barclays Bank, Bharti Airtel, British Biologicals, Capgemini India, Cipla Ltd. Crisil,

Dun N Bradstreet, Edelweiss Capital, Elder Pharmaceuticals Ltd., Eli Lilly, Ernst & Young, HDFC Ltd., ICICI Bank

Ltd., Johnson and Johnson Ltd., Jones Lang LaSalle, JP Morgan Chase, L & T Infotech, Sanofi Aventis, Shopper

Stop Ltd., Tata Consultancy Services, Godrej, Pidilite, Novartis, Aditya Birla Group, KPMG, Mahindra, Max New

York Life, ESSAR, Zydus Cadila

Highlights

Ÿ More than 100 Years Old Legacy in Education.

Ÿ 15-Years of Excellence in Management Education.

Ÿ Average Industry Experience of Faculty: Morethan 10 Years.

Ÿ Experiential Learning

Ÿ State-of-the-Art Infrastructure

Ÿ Creative and Transparent Environment

Ÿ Emphasis on Building Leadership and Teamwork Skills.

Ÿ Curriculum Vetted by Industry Professionals.

Ÿ Student Participation in Institute Administration.

Ÿ National Best Budding Manager Award declaredby AIMA is from IES MCRC for Consecutive TwoYears.

Ÿ Globally Accepted Pedagogy

Ÿ International Exposure through Student ExchangeProgrammes.

Ÿ Ph.D. Study Centre for SNDT Women's University,Mumbai and Macquarie University, Australia

PGDM - 2014-16 (Finance, Marketing, HR, Systems and Operations)

Eligibility:Ÿ Graduate in any discipline from a recognized University

with minimum 50% marks in aggregate or 'B' GradeŸ Valid Aptitude Test Score (CAT, ATMA, CMAT,

MH-CET)

- 120 Seats PGDM - 2014-16 (Health Care and Pharmaceuticals Management)

Eligibility:Ÿ Applicants who have passed B.Pharm, B.Sc. (Biology,

Chemistry, Bio-Chemistry, Life Sciences and Bio-Technology), B.E. (Bio-Medical, Bio-Technology), M.B.B.S., B.V.Sc. & AH, B.A.M.S., B.H.M.S., B.D.S. with 50% marks in aggregate or 'B' Grade.

Ÿ Valid Aptitude Test Score (CAT, ATMA, CMAT,MH-CET)

(HCPM) - 60 Seats

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Peer group at B-schoolis most important

… believes RITIKA BIHANY, Customer Centricity Manager at Asian Paints and an alumnus of S.P. Jain Institute of Management & Research. In a conversation with Aditya Prakash Iengar, she talks about life at SPJIMR and the benefits arising out of a hectic schedule.

Q. Tell us about yourself in brief.I studied at Ashok Hall Girls’ Higher Secondary School in Kolkata. Then I did my engineering in Biotechnology from RV College of Engineering in Bangalore. I wrote the CAT and got admission to SPJIMR in Mumbai, and eventually chose marketing as my specialisation. After I graduated in 2011, I was selected by Asian Paints during campus placements, and I have been with the company for almost 5 years and handled 3 separate profiles.

Q. Was the move from Kolkata to Bangalore for your engineering a conscious decision?Not really. In school, biotechnology was one of my subjects and at that point, it fascinated me. And since there were very few engineering institutes that offered a degree in biotechnology, I chose RVCE.

Q. If you were interested in biotechnology, why would you switch to MBA?During my engineering course, I realised that the kind of job prospects for a biotech graduate mostly revolved around research and laboratory work. And back in 2009, there weren’t too many other options available for biotechnology in India. The alternative was to continue

studying for 4-5 years to find a decent role in the field of biotechnology, which didn’t appeal to me. So, my switch to MBA was pretty much a practical decision.

Q. Did your classmates in engineering influence your decision to turn towards MBA?Let’s face it, that’s how it happens very often! My parents aren’t management graduates, so I didn’t get much guidance at home. So my peer group did influence my decision to a large extent. Moreover, RVCE being one of the better colleges, a lot of my seniors did get into good business schools, which helped me make that choice!

Q. Did you take help of any coaching institute? Did it help?I was one of the first ones in my batch who joined a coaching programme when we entered the fourth year. I joined IMS’s one year programme.

Did it help? Absolutely. Would I recommend it to everybody? Perhaps not to those whose concepts and application skills are in place. I have always studied in a very traditional, textbook oriented sort of way. Even though I learnt a lot of concepts and formulae, the coaching actually got me to think and apply those concepts and formulae, even though they were high school level. So, even though I didn’t really learn anything new, the coaching did help me polish my skills.

Q. Which tests did you take, and which institutes did you apply to?I wrote the CAT, XAT and the SNAP, and I applied to all the top 20 B-schools. I got calls from three institutes — MDI, SP Jain, and IMT Ghaziabad. Interestingly, I’d received call from IIM Kozhikode too, but within a few minutes, my name was retracted. I contacted the institute and was told that even though my name had appeared initially, it had been struck off later because I did not have any work experience! Somewhat of a rude shock, I must say.

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I cracked all three interviews, but decided on SPJIMR based on its ranking, and because I had read and heard that it had the best standing among the three. The feedback I got from all my seniors and cousins was a glowing one. And finally, they had better placements and a smaller batch, which appealed to me.

Q. Your lack of work experience hampered your chances in IIM K. Do you feel that work experience is necessary?Personally, I don’t think work experience is extremely important. It does help you when you are studying to get a perspective, but won’t really make either the subject matter or your learning any easier. However, for someone who has never seen the inside of an office, it does become relatable. In fact, a lot of my peers who had work experience used to wonder at the enthusiasm and interest of the freshers! Being “naïve” and not having experience helped me learn some things in a better way than those with experience did, since I had no pre-conceived notions or baggage.

Of course, students with work experience had an edge over the others in terms of maturity, and they could relate a lot of their learning with their stint in the workplace.

Ultimately, I don’t feel it makes much of a difference, since we have seen, time and again that whether you are a fresher or not, the placements don’t really show much of a difference. In fact, I feel that companies with sales and marketing roles prefer freshers precisely because they are naïve and fresh, brimming with enthusiasm, and willing to do a lot more legwork than others.

Q. What was life like at SPJIMR?The first year was extremely hectic. We were given assignments almost every day based on what you had learned that week or the one before; most of these assignments used to be group work. These assignments necessitated that you met with your group and other students regularly. The campus was also conducive to this, with students meeting and having discussions pretty much anywhere, from library to laboratory, garden to cafeteria.

Often, some assignments came with very short deadlines, which meant that all of us would be up late, frantically working on our individual portions of the work. Things would become even more frenzied when

we were given multiple assignments to be submitted on a single day. So eventually, there would always be a few students milling around professors, begging to be given extensions on their assignments!

SPJIMR also had a culture of a pop quiz. This basically meant that during our morning classes, they would announce a surprise test in the middle of a break, and it would be held in the next break! So you had to gobble down your food during lunch, keep preparing, and get ready for the quiz that would be held in the last 10 minutes of the break! Lunch on those days would invariably be an expedited affair consisting of a couple of vadapavs! This pop quiz would be held around three times a week in the first year! The important point here is that all these assignments and quizzes and even class participation had some weightage, so you couldn’t really let down your hair or your guard.

The second year was slightly easier, but it’s more serious, because you’re doing what you’ll eventually be doing in your career. So you’re more motivated,

and there’s a lot of inspired learning. Also, in the second year, the groups are formed based on specialisations. So in my group, all the others were also specialising in marketing, and then, the peer learning transcends to a whole new level altogether!

Q. Is it all studies at SPJIMR, then?Not at all! We had a lot of

activities outside the classroom, from theatre, music bands to sports and fests, apart from being on one or more of the 10-odd committees. Most of these activities are actually run by students. I was on the committee for placements for NGO internship. We used to spend one afternoon a week for a year teaching underprivileged children.

Q. Why do you think that such a hectic schedule was enforced?First of all, there is a lot that the professors have to teach you, especially during the first year, since that’s all the time they have before you move on to your specialisation. So the paucity of time forces the school to speed everything up.

Secondly, I do believe that the hectic schedule was deliberate, because there is a tendency to throw the students in the deep end. There is a deliberate focus on tighter deadlines and faster turnarounds, which taught us to become quicker and faster on our mental feet.

I DON’T THINK WORK EXPERIENCE

IS TOO IMPORTANT. IT HELPS WHEN YOU

ARE STUDYING TO GET A PERSPECTIVE.

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Q. Do you have any regrets? I should have paid more attention to subjects I knew I wouldn’t take up later. Since SPJIMR is one of the very few B-schools that require a student to select a specialisation even before the first year begins, you know that there were some subjects you would have to study only during the first year.

Of these, a lot of subjects like HR were completely new to me, and interested me greatly. On the flip side, I was introduced to subjects like finance, which turned out to be a nightmare! And yet, I regret that I didn’t pay more attention to these subjects, simply because in a career that will span 30 years, I’m sure I will come across one of those fields, and then, the kind of quality of teaching I got at SPJIMR wouldn’t be available. Q. SPJIMR has two different internships — the traditional corporate one and a stint with an NGO. How was your experience, and how did the NGO internship help?SPJIMR is quite unique, in that instead of the traditional summer internship, our students work with NGOs. This NGO internship lasts six weeks, which I spent with my group at one in Himachal Pradesh. We helped the NGO with their accounts, set up an additional branch, we visited NABARD for funding the NGO’s activities, which also included self-help, welfare and sanitation. And then, in September, we go to corporates for the traditional corporate internship.

I feel that any experience that is out of the ordinary is highly helpful. Most of my classmates and I had never been exposed to NGOs and self-help. We were dreaming of big companies on a grand scale with humongous budgets, but then there we were, helping an NGO set up a small shop, and we were marketing them, using their relatively meagre resources. This may appear insignificant, but it does actually sensitise you to a huge extent. There is a world outside that the starry-eyed MBA soon-to-be grads don’t really see, and this stint serves as a good, much-needed reality check.

Q. According to you, how important are one’s peer groups?I believe that the peer group is the single most important thing in a B-school, perhaps even more so than your teachers, if only by a small margin. It is why someone would rarely, if ever, pass up an admission to a very expensive top ranked school. The ideas and perspectives you gain from your peers during class or even in general discussions help you learn a lot.

Since B-schools like SPJIMR go out of their way to get a very diverse batch, my peers included a male Kathak dancer, a couple of professional level violinists, sportsmen who’d represented their state or even the nation as my peers. Apart from them, you had people who had significant work experience, and we had a lot to learn from them too.

Q. What was your placement experience like?Placements were a high pressure rollercoaster. It’s tough, mentally, to know that your career is about to begin, and even though you’ve made your way into a good B-school, that was just the start of it all.

Having said that, I believe that your first company matters only to a certain extent, even though at the time it might not seem so. It’s always great to join a company knowing you had been targeting it. And you will have wild, starry dreams about your job. But it often happens that you don’t get that company. That’s alright, it really doesn’t matter in the long run. Your first company can give you that required experience, along with the next, and the one after that, to get you to your dream company eventually.

This works the other way, too. You get placed in a company that doesn’t really excite you, but then you realise in a few months that you have begun to love your role and the company!

Q. Any advice for MBA aspirants?Study hard. Period. There is nothing else that I can stress more than this. It is true that the most difficult part of your journey is done — that of getting into the B-school.

But if you stop and think about it, you will never again have such top notch professors dedicated to teaching you and helping you learn, at least not anytime soon. Don’t forget to have fun and get involved in extracurricular learning and activities, but that will happen on its own during the course. So don’t forget to study hard.

Finally, be aware of what’s happening around you at your institute. This is the last time that you’ll really have such a wonderful opportunity to discover yourself, both professionally and personally. A

women’s day special report

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Scarcity of women leaders in business: A study

Amarendra Singh

Although estimates universally establish that women in leadership positions can drastically improve a business or an economy, it is a fact that women are criminally underrepresented in

the workforce. In this article, we take a look at the whys and the way forward.

C lose to two years ago, the Securities and Exchange Board of India

(SEBI), the securities market regulator, mandated that all listed companies in India must have at least one woman director on the board — a mandate that has, unfortunately, not yet been fulfilled. In most cases, companies responded by appointing female relatives of the top directors, at the very last minute approaching the deadline!

While the SEBI’s primary objective was to increase gender diversity at the top decision making level in publically traded companies in India, the real benefits of having women in decision making roles in companies go much beyond.

Benefits of having women leadersA recent international study covering 22,000 publically traded companies in 91 countries revealed that companies with 30% female executives bring in as much as six percentage points more in profits1! It has also been estimated that if women are allowed to have active participation at work in India, the GDP could grow by leaps and bounds.

According to International Monetary Fund (IMF) Chief, Christine Lagarde, “If the number of female workers were to increase to the same level as the number of men, the GDP in India will grow by 27%. Even if it were to half the figure, it would still be far ahead of the current estimates of 7.6%!

This brings us to two very important facts:1. There is extreme scarcity of

women in decision making business roles, and

2. Having women leaders in decision making roles will have economic value

If there is an economic benefit of having women leaders, why, then, is there a scarcity of women leaders in the corporate world? While the scarcity of women leaders plagues companies all over the world, the focus of this article is going to be India, and in this process we shall examine — through data and

analysis — various aspects that could lead to severe scarcity of women leaders at the leadership levels.

More women are pursuing higher education, but not the more “competitive” educationLet us start at the very beginning — the education of girls, especially higher education.

The gross enrolment in higher education is steadily increasing in India; it registered a CAGR (Compounded Annual Growth Rate) of 10%2 during the 2007-08 to 2014-15 period. Even better was girls’ enrolment in higher education, which grew at a pace of 12% during the same period, reaching 124.76 lakh in 2014-15. As a result, girls formed 47% of the total enrolments in higher education in 2014-15.

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However, a significant portion of the female students (41.7%) enrol in Arts, a rather less competitive education stream, when compared to the likes of Engineering & Technology (10%), Science (18.6%) or even Commerce (15.7%).

Popular entrance tests (such as CAT, XAT, etc) that are accepted for admissions to various business schools in India are extremely competitive, and test the candidates on analytical, quantitative and time management skills. It has been found that aspirants having Engineering & Technology background fare far better than those from any other educational background. For this reason, the Common Aptitude Test (CAT) is particularly popular among students with Engineering & Technology background. (see: Box 1)

Closely examining the numbers reveals that in 2014-15, women formed only 28% of all enrolments in Engineering & Technology. One look at the registration numbers for IIT-JEE3 2015 shows that 73.75% registered were boys; and among those who cleared the IIT-JEE Advance, 81.55% were boys. That means, just over 18% were girls! The widely accepted, albeit admittedly stereotypical claim that girls don’t fare quite well when it comes to quantitative skills might after all be true!

The Common Aptitude Test (CAT) 2015Earlier, we talked about the CAT, one of the most popular entrance tests to be accepted in various MBA Institutions in India. A significant number of MBA aspirants (currently studying in the final year of their undergraduate courses or recent graduates) take the CAT. Let us examine it in greater detail.

A total of 2.19 lakh students registered for CAT 2015, of which 31.5% were women. However, only 1.79 lakh students actually wrote the test (39,000 students skipped the CAT), of which 32% were women. This proportion has remained pretty stable in the past too. However, in the final result, women fared rather poorly in the CAT. Male candidates had very

convincingly dominated the results (see: Table 1).

With just 13% women in the 95 and above percentile, all hopes to achieve higher gender representation (despite the extra marks during the final selection) in the MBA class of top-30 B-schools are dashed.

So, what is the representation of women in MBA class?Obviously, the two previous arguments indicate that since the CAT favours those having Engineering & Technology background, and since more men pursue Engineering, their presence in an MBA class should also remain strong. Data from Table 2 verifies this argument.

In fact, gender data from the top-30 MBA schools5 in India, (including IIM-B, IIM-L and TISS), reveals that women formed only 28.5% of the class. At the top six IIMs (A, B, C, L, K, I), the representation of female students has been dismal in the past too, as evidenced from Table 3.

In India, the most preferred graduate & post-graduate combination is Engineering and MBA.

In CAT 2015, among all candidates who registered for the test, engineers were 54% and non-engineers were 46%. However, when it came to actually taking the test, 62% were engineers, while the remaining 38% were non-engineers.

This means that over 33% of all registered non-engineers skipped the CAT, as against just 5% engineers. These numbers are not mere coincidence — it is clear that non-engineers really don’t fancy their chances of succeeding in the CAT.

It is also interesting to note that all the 17 toppers of CAT 2015 (100 percentilers) had engineering background.

Box 1

Table 1: CAT 2015 Final Result

CAT Percentile Boys Girls Percentage of Girls

100th 16 1 6%

99th 1,688 136 7%

95th 7,769 1,243 14%

95th & above 9,473 1,380 13%

Table 2: Diversity at the top B-Schools in India4

Top-10 Top-25

Engineers 87% 84%

Women 25% 26%

Table 3: Gender diversity at top six IIMs

Class of 2014

Class of 2015

Class of 2016

Class of 2017

Gender Diversity 22% 31% 31% 27%


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ALMOST 48% OF INDIAN WOMEN

DROP OUT OF WHITE COLLAR JOBS BEFORE REACHING

MID-CAREER.

One can expect only the women graduates from the top-30 B-schools to finally assume leadership roles in companies. However, if the entry-level representation of women is so low, we can predict what will happen next.

Challenges at the workplaceAt the entry level, women form about 29% of the workforce. This seemingly healthy starting ratio starts to wither away as women start progressing through their careers and life.

It has been found that 48% of Indian women drop out of white collar jobs before reaching mid-career (compared to the Asia average of 21%)6. Several factors contribute to this behaviour:

Social Traditions and NormsThere is no denying that career opportunities for women in India are rapidly expanding, but family expectations and social mores remain rooted in tradition. Many parents still consider the marriage of their girl children as the single most important to-do thing in their life, and the sooner that happens, the better.

Statistics don’t disappoint, either. At an all-India (urban) level, in the 20-25 years age group, more than 62% women are currently married. In the same age group, the urban women would have had at least one child7. It is important to note that in India, most students pursue MBA in the 20-25 years age group. Once married, it is difficult for women to find balance between the demands of marriage, a rigorous curriculum of MBA, and other social & traditional expectations.

Career and work-life balanceBy the time women graduate from their postgraduate programmes, and start working in companies, they start to fall into the 26-29 years age bracket, in which more than 86% urban women are currently married. This data also underscores the social importance for women to get married before they turn 30! Also, the woman would definitely have had at least one child by this time.

As mentioned earlier, it requires a Herculean effort to balance so many conflicting demands — a growing career, marriage, child care, elderly care, etc in absence of a proper support system, both at home and at the

workplace.In a research, it was found

that more than 80% Indians agree with the statement, “Changing diapers, giving kids a bath and feeding kids are the mother’s responsibility.”8 Hence, it is clear that despite a fast-changing social landscape, there still are deep-rooted notions and beliefs that refuse to die.

Slower career progression, and salary gapThat there exists a salary gap between the two genders is not news, but the extent of that gap might shock many. The salary gap at the workplace varies between 20% - 40% (depending on the

survey source that you choose) in favour of men!

According to Shashi Irde, Executive Director of non-profit organisation Catalyst, even if women start out as equals, a gender gap emerges over time and they lag financially behind their male counterparts to a tune of `3.8 lakh, by the time they are 12 years into their careers.

So, despite all the claims by companies, gender discrimination does exist at workplaces, at least on the salary front.

Moreover, their male counterparts seem to have faster promotions (something which could explain the salary difference). Women, on the

other hand, face the usual gender biases: they are perceived as unambitious, incompetent, or even as misplaced homemakers. Married women with children are perceived as less flexible, less available, less committed and, hence, not leadership material. Contrarily, married women with no children are perceived as abnormal!

And if they exert themselves at the workplace, they are perceived as bossy, prudish and arrogant!

Unfavourable workplace – policy and supportCombine all of this with the fact that women executives at work don’t always receive adequate support or understanding from their employers. Many organisations do have flexible work arrangements, and yet, men and women don’t utilise that facility for the fear of being penalised, as the leaders place more value on face-to-face interaction.

While the trend of providing on-site child care is gradually

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picking up in a few sectors, the concept is still alien to several others. Child care (75%) and elder-care (80%) are the two most reported reasons why women leave their jobs9 in India.

Once women leave an organisation, it is very hard for them to get back into the workforce. Returnees to work feel stigmatised for having taken a long leave; they are often put on a slow-track career path that does not do justice to their education & career.

One more important piece of the puzzle is the absence of strong role models for women professionals to excel at the workplace. Young women executives rarely hear about the contributions of women leaders, and hardly receive any mentoring from those who succeed. This naturally affects and limits career aspirations.

Hearing Pepsico Chairman and CEO Indra Nooyi saying that women “can’t have it all”10 only serves to remind women executives that no matter how high up the career echelons a woman climbs, her identity as a wife, mother and homemaker will always trump her individual and professional identity.

The result of all the above is that many women drop out of the workforce as they progress through life. At the entry level, women account for 29% of the workforce, but this figure drops to a measly 9% post the mid-to-senior management level, and forms less than 1% at the CXO level11!

Things certainly are improving, but not at the pace they should. After the SEBI mandate, the number of women directors have increased to 13% (at the time of writing this article) from 8% in November 2015. Still, there are

at least 59 listed companies that don’t have any women directors. In most cases, these female directors have no real business influence.

Tying it all togetherThe need of the day is to start investing in women. The kind of growth that India aspires to achieve is not possible unless we reduce gender inequality at work. While achieving substantial changes in societal attitudes take time, it is rather easily achieved at workplaces.

Companies that wish to remain competitive need to utilise India’s highly educated women. As long as they remain underrepresented in leadership positions, gender inequality will continue. When leadership ranks become more diverse, more pathways will open for India’s women, and this in turn will promote India’s economic growth.

A research conducted by a company called Genpact reveals that there may be close to 1.5 million qualified Indian women who have dropped out of corporate jobs, simply because they could not find suitable employment after starting a family.

That is an opportunity for companies to start initiatives to attract mid-career level women who have taken a sabbatical and are looking to get back into the

mainstream. This will not only help them obtain qualified talent, but will also enable them to achieve the gender diversity needed for success.

Sources 1. Conducted by The Peterson

Institute for International Economics, a Washington, DC based thinktank

2. University Grant Commission reports

3. Indian Institute of Technology – Joint Entrance Examination

4. Business Today magazine, November 2015 and Business Today-MDRA Ranking 2015

5. Business Today rankings 20156. h t t p : / / e c o n o m i c t i m e s .

indiatimes.com/magazines/panache/48-per-cent-indian-women-drop-out-mid-career/articleshow/49871157.cms

7. www.data.gov.in8. Evolving Men: Initial Results

from the International Men and Gender Equality Survey, (2011)

9. Based on the research conducted by New York based non-profit, Center for Talent Innovation

10. h t t p : / / w w w . f o r b e s . c o m /sites/moiraforbes/2014/07/03/power-woman-indra-nooyi-on-why-women-cant-have-it-all/#75cbea1d26ec

11. A report by McKinsey and Co. 2012 A


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Bengaluru Chennai Mumbai Navi Mumbai Noida Warangal

ITM Business School

ADMISSIONS OFFICE: 1001, 10th Flr, Platinum Techno Park, Vashi, Navi Mumbai - 400703

* [email protected] www.itm.edu

ITM Global Leadership CentreITM Institute of Financial Markets

Because youshouldn't finishyour MBA andstill be a fresher

The Most Practical Business School

We believe that a business education is incomplete without proper work experience. Thats why we have included a 5 Month Industry Internship into our PGDM program.

Welcome to ITM Business School - The Most Practical B-School. The ITM-PGDM iConnect 2016-18 is a two-year full-time AICTE approved program. Join us on a developmental journey that will take you from inexperienced fresher to a ready-to-work manager.

ITM PGDM iConnect 2016-18 (AICTE APPROVED)

l 10 Specializationsl 5 Month full-time Industry Internshipl 225 hours of professional developmentl Real, hands-on CSR projectsl 650 companies for campus placements

Highest: Rs. 13.50 Lac

Average CTC: Rs. 6.80 Lac

2015 Placements Snapshot

Scan & visit us!

ELIGIBILITYYou need a Bachelors Degree with min. 50% & either CAT, XAT, MAT, GMAT or CMAT

HOW TO APPLYl App Kit Rs.200/- Submission Rs.1000/-

l Send a cheque/DD of Rs.200/- to our Admissions O�ce or buy the App Kit for Rs. 200/- from any ITM location.

Application Deadline 31st March 2016Apply online at www.itm.edu/pgdm

)1800 209 9727

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Bengaluru Chennai Mumbai Navi Mumbai Noida Warangal

ITM Business School

ADMISSIONS OFFICE: 1001, 10th Flr, Platinum Techno Park, Vashi, Navi Mumbai - 400703

* [email protected] www.itm.edu

ITM Global Leadership CentreITM Institute of Financial Markets

Because youshouldn't finishyour MBA andstill be a fresher

The Most Practical Business School

We believe that a business education is incomplete without proper work experience. Thats why we have included a 5 Month Industry Internship into our PGDM program.

Welcome to ITM Business School - The Most Practical B-School. The ITM-PGDM iConnect 2016-18 is a two-year full-time AICTE approved program. Join us on a developmental journey that will take you from inexperienced fresher to a ready-to-work manager.

ITM PGDM iConnect 2016-18 (AICTE APPROVED)

l 10 Specializationsl 5 Month full-time Industry Internshipl 225 hours of professional developmentl Real, hands-on CSR projectsl 650 companies for campus placements

Highest: Rs. 13.50 Lac

Average CTC: Rs. 6.80 Lac

2015 Placements Snapshot

Scan & visit us!

ELIGIBILITYYou need a Bachelors Degree with min. 50% & either CAT, XAT, MAT, GMAT or CMAT

HOW TO APPLYl App Kit Rs.200/- Submission Rs.1000/-

l Send a cheque/DD of Rs.200/- to our Admissions O�ce or buy the App Kit for Rs. 200/- from any ITM location.

Application Deadline 31st March 2016Apply online at www.itm.edu/pgdm

)1800 209 9727

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A popular spectator sports since the Roman era, boxing is a maral art and combat sport involving considerable violence, aggression and grit. However, the women have braved this hosle domain and mastered it as well. And tesmony to this amazing feat are the remarkable women boxers like Mary Kom, Laishram Sarita Devi, Sarjubala Devi, Kavita Goyat, Pinki Rani and many others from India. They have proved beyond doubt that women can step ahead and flaunt their muscles, to ck in this so called stereotypical male industry.

When we talk about breaking gender stereotypes, we certainly have to menon these remarkable women who have changed the dos and don’ts prescribed by the patriarchal society and taken up truck driving. Uer poverty and responsibility of the enre family led Parva Arya to take up truck driving as a profession. Later her name got featured in the Guinness Book of World Records as Asia’s first truck driver. And she is not the only heroine in this trade. Thirty-year-old Jothimani Gowthaman, B.Com and LLB degree holder Yogita Raghuvanshi and others are women who have braved hardships to take up truck driving as their profession.

BOXINGBOXING

STAND-UP COMEDYSTAND-UP COMEDY

FIREFIGHTINGFIREFIGHTING

TRUCK DRIVINGTRUCK DRIVING

Women are not shying away from a field that demands courage, alertness and considerable amount of risk-taking. Formerly an all-male profession, firefighng is an area where women have been showing considerable interest these days. And, in India women joining the fire brigade is not new. In 2003, the Tamil Nadu Fire and Rescue Services appointed 1975-born Priya Ravichandran as a Divisional Fire Officer, making her one of the first female fire officers in the country. In fact, the fire brigade decided to recruit women a�er it was learnt that there was awkwardness among women vicms when dealing with male fire fighters.

In this 21st century, there are hardly any elds which can be considered solely male dominated. Women have made forays in the most perilous and precarious of activities and have proved their mettle in all possible domains. Naturally, we are not left with too many choices when we have to list the so-called conventional male-dominated spheres. However, we have come up with ten such professions which had been traditionally associated with men, even though women are slowly coming on a par with the male folk in these lines of work as well.

Humour is one trait that’s priceless in both men and women. A humorous person is a great companion and wonderful to have to lighten any and every possible mood. However, strangely enough, stand-up comedy has mostly been a male domain with remarkable arstes who have created a niche for themselves, worldwide. But now women are making their presence felt in this profession as well. Beauful and funny, women stand-up comedians like Iliza Shlesinger, Natasha Leggero, Aisha Tyler, Whitney Cummings and others are characters the enre world adores.

countdown

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A popular spectator sports since the Roman era, boxing is a maral art and combat sport involving considerable violence, aggression and grit. However, the women have braved this hosle domain and mastered it as well. And tesmony to this amazing feat are the remarkable women boxers like Mary Kom, Laishram Sarita Devi, Sarjubala Devi, Kavita Goyat, Pinki Rani and many others from India. They have proved beyond doubt that women can step ahead and flaunt their muscles, to ck in this so called stereotypical male industry.

When we talk about breaking gender stereotypes, we certainly have to menon these remarkable women who have changed the dos and don’ts prescribed by the patriarchal society and taken up truck driving. Uer poverty and responsibility of the enre family led Parva Arya to take up truck driving as a profession. Later her name got featured in the Guinness Book of World Records as Asia’s first truck driver. And she is not the only heroine in this trade. Thirty-year-old Jothimani Gowthaman, B.Com and LLB degree holder Yogita Raghuvanshi and others are women who have braved hardships to take up truck driving as their profession.

BOXINGBOXING

STAND-UP COMEDYSTAND-UP COMEDY

FIREFIGHTINGFIREFIGHTING

TRUCK DRIVINGTRUCK DRIVING

Women are not shying away from a field that demands courage, alertness and considerable amount of risk-taking. Formerly an all-male profession, firefighng is an area where women have been showing considerable interest these days. And, in India women joining the fire brigade is not new. In 2003, the Tamil Nadu Fire and Rescue Services appointed 1975-born Priya Ravichandran as a Divisional Fire Officer, making her one of the first female fire officers in the country. In fact, the fire brigade decided to recruit women a�er it was learnt that there was awkwardness among women vicms when dealing with male fire fighters.

In this 21st century, there are hardly any elds which can be considered solely male dominated. Women have made forays in the most perilous and precarious of activities and have proved their mettle in all possible domains. Naturally, we are not left with too many choices when we have to list the so-called conventional male-dominated spheres. However, we have come up with ten such professions which had been traditionally associated with men, even though women are slowly coming on a par with the male folk in these lines of work as well.

Humour is one trait that’s priceless in both men and women. A humorous person is a great companion and wonderful to have to lighten any and every possible mood. However, strangely enough, stand-up comedy has mostly been a male domain with remarkable arstes who have created a niche for themselves, worldwide. But now women are making their presence felt in this profession as well. Beauful and funny, women stand-up comedians like Iliza Shlesinger, Natasha Leggero, Aisha Tyler, Whitney Cummings and others are characters the enre world adores.

countdownww

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.com


Women have made forays into the highest class of single seat auto racing – Formula One. Women F1 drivers who have entered the Grand Prix, like Giovanna Ama, Desire Wilson, Divina Galica, Lella Lombardi, Maria Teresa de Filippis and others, have rubbished the noon that women cannot be great drivers and driving cars at high speeds is solely a male domain.

Even though cooking is associated more with women than men, professional, high-status cooking has remained mostly a male domain despite inroads women have made into other tradionally male-dominated careers. It’s bewildering and makes us queson why women are discriminated against in the culinary profession. However, there are women who have done remarkably well as chefs. Tarla Dalal, Anjum Anand, Kamini Jha, Nigella Lawson, Nadia Giosia, Kae Lee and others have made a name for themselves with their remarkable dishes that have made a noteworthy impact on the taste buds of the people the world over.

For most of us when we hear the word ‘ship captain’ the first thought that comes to the mind is that of an old bearded man smiling in all-white a�re. Well, it’s me we changed our old fashioned noon. Braving the high winds and sea air is also very much within the grasp of women. Sarah Breton or more appropriately Captain Breton, Kate McCue or Captain McCue are the torchbearers who have shown that there is hardly any avenue le�, which is beyond the capabilies of the fair sex.

FORMULA 1FORMULA 1

COOKINGCOOKING AUTO MECHANICSAUTO MECHANICS

TRAIN DRIVINGTRAIN DRIVING

SHIPPINGSHIPPING

No ma�er how we phrase it, there is no denying the fact that the automove industry is a male-dominated empire. Men are the ones leading the market as they engineer, race, repair, and design the cars that we drive every day. However, there indeed are a few women who have broken that stereotype and proved that the key to ck in this profession is not just brute strength but use of the right tools at the right place and in the right me. Caroline Lake, the founder of Caroline’s Cars, a female- and male-friendly garage in Norfolk, UK, is such a trend se�er who has shown that auto mechanics can be a woman’s domain as well.

Considered a male sphere, driving a train was once considered beyond the capacity of the womenfolk. Proving the age-old norm redundant, women have taken up this once-considered male-only profession called train driving. In fact, way back in 1988, Surekha Shankar Yadav became the first female train driver for the Indian Railways in India as well as in Asia. Mumtaz Kazi in September 1991 became the first Indian to drive a diesel train. Shirking the age-old stereotype, many others like them are stepping ahead to take up train driving as a profession.

POKER PLAYINGPOKER PLAYING

With every passing year, more and more women are achieving noteworthy success in the poker world. Many talented female players have broken through the glass ceiling of the once male-dominated game to win presgious tournaments and become household names in the world of poker. Vanessa Selbst, Jennifer Harman, Kathy Liebert, Anne�e Obrestad, Xuan Liu and many others are world-class poker players who have earned world acclaim and are considered as skilled as their male counterparts.

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Women have made forays into the highest class of single seat auto racing – Formula One. Women F1 drivers who have entered the Grand Prix, like Giovanna Ama, Desire Wilson, Divina Galica, Lella Lombardi, Maria Teresa de Filippis and others, have rubbished the noon that women cannot be great drivers and driving cars at high speeds is solely a male domain.

Even though cooking is associated more with women than men, professional, high-status cooking has remained mostly a male domain despite inroads women have made into other tradionally male-dominated careers. It’s bewildering and makes us queson why women are discriminated against in the culinary profession. However, there are women who have done remarkably well as chefs. Tarla Dalal, Anjum Anand, Kamini Jha, Nigella Lawson, Nadia Giosia, Kae Lee and others have made a name for themselves with their remarkable dishes that have made a noteworthy impact on the taste buds of the people the world over.

For most of us when we hear the word ‘ship captain’ the first thought that comes to the mind is that of an old bearded man smiling in all-white a�re. Well, it’s me we changed our old fashioned noon. Braving the high winds and sea air is also very much within the grasp of women. Sarah Breton or more appropriately Captain Breton, Kate McCue or Captain McCue are the torchbearers who have shown that there is hardly any avenue le�, which is beyond the capabilies of the fair sex.

FORMULA 1FORMULA 1

COOKINGCOOKING AUTO MECHANICSAUTO MECHANICS

TRAIN DRIVINGTRAIN DRIVING

SHIPPINGSHIPPING

No ma�er how we phrase it, there is no denying the fact that the automove industry is a male-dominated empire. Men are the ones leading the market as they engineer, race, repair, and design the cars that we drive every day. However, there indeed are a few women who have broken that stereotype and proved that the key to ck in this profession is not just brute strength but use of the right tools at the right place and in the right me. Caroline Lake, the founder of Caroline’s Cars, a female- and male-friendly garage in Norfolk, UK, is such a trend se�er who has shown that auto mechanics can be a woman’s domain as well.

Considered a male sphere, driving a train was once considered beyond the capacity of the womenfolk. Proving the age-old norm redundant, women have taken up this once-considered male-only profession called train driving. In fact, way back in 1988, Surekha Shankar Yadav became the first female train driver for the Indian Railways in India as well as in Asia. Mumtaz Kazi in September 1991 became the first Indian to drive a diesel train. Shirking the age-old stereotype, many others like them are stepping ahead to take up train driving as a profession.

POKER PLAYINGPOKER PLAYING

With every passing year, more and more women are achieving noteworthy success in the poker world. Many talented female players have broken through the glass ceiling of the once male-dominated game to win presgious tournaments and become household names in the world of poker. Vanessa Selbst, Jennifer Harman, Kathy Liebert, Anne�e Obrestad, Xuan Liu and many others are world-class poker players who have earned world acclaim and are considered as skilled as their male counterparts.

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Smart cities:How will they work?

The government of India has been crying itself hoarse about the smart city project. But what does this entail, and how realistic can a target of 100 cities be? And most importantly,

is the current political and economic structure conducive enough?

E

Dr Suresh Srinivasan

ver since the “smart city” became the talk of the town, people have been

harbouring very different opinions as to what a “smart city” actual is! And of course, there are those who don’t understand and are still confused about the concept!

What is a smart city?To keep things simple, we can define a smart city as one that offers an improved lifestyle for its residents through integration of multiple information and communication technology solutions with respect to the city’s energy, transportation, education and healthcare infrastructure, communities, local law and enforcement and

information systems. At the end of the day, all of these needs to result in a superior quality of life for the residents, achieved at minimum cost and environmental footprint, all of it in such a way that the city becomes self-sustainable.

Such a vast outcome can be achieved through the deployment of state of the art technologies that use real-time systems and sensors to maintain a dynamic collection of data, which is then processed real-time. That describes what we mean by smart cities!

Singapore: A smart cityUnderstanding how an existing smart city function is important if we are to gain a clearer

understanding of the concept. Singapore, which extensively uses technology to enable its citizens to enjoy a better quality of life, is considered as one of the world’s smart cities. Singapore’s vision focuses on developing the “smartness” of its people in using technology, such as wireless communications and energy-efficient appliances or vehicles. This enables its citizens to reduce the need to move or, if necessary, do so more cleanly.

According to a research carried out by a team from the Department of Civil Engineering at University of Birmingham, a smart city can be defined by a vision that includes five key factors: • Digital technology, • Environmental sustainability, • Civic initiatives, • Mobility, and • Business.

The research team discovered that over 70% of activity that contributes to a smart city occurred in the first three of these areas. This will involve the innovative use of new technology, but it must equally support the delivery of smart, low carbon dioxide initiatives that both improve the quality of life of citizens and enhance the natural environment.

Planning a smart city is all about applying smart solutions for doing more with less resources.

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Smart cities in IndiaLast month, the Indian government revealed the names of the first 20 smart cities that will get a funding of around `50,000 crore over the course of five years. The Centre proposes to give around `200 crore to each of the selected cities in the first year, and `100 crore in subsequent years. This is part of Prime Minister Narendra Modi’s vision to set up 100 smart cities across India, a plan that he announced soon after his government came to power two years ago.

Some of the cities included in the list are Kochi, Ahmedabad, Visakhapatnam, Indore, New Delhi, Coimbatore, Kakinada, Udaipur, Guwahati, Chennai, Ludhiana and Bhopal. Mumbai and no city in West Bengal figure in the list. The names were picked from a list of 97 cities submitted by states during a competition last year.

It is also interesting to note that around half of the selected cities are from the states like Kerala, Assam, Tamil Nadu, Punjab, Gujarat and Karnataka, which are going to elections in the next two-and-half years.

How an Indian smart city will workSmart cities in the Indian context will be different from international smart cities. In India, they will be equipped with basic infrastructure and will need to offer water, power and sanitation through smart solutions. We are expected to see an efficient and effective public transport system, and facilities like pre-booking of parking lots and enhanced parking space.

Pedestrians will be given importance, with abundant

footpaths housing public seating at regular intervals and easy mobility for the differently challenged. Intelligent traffic management systems can be expected, with real time information on arrival of

buses and trains for passengers. Safety and video surveillance, solar LED lamps to power street lights can also be expected.

E-governance and citizen participation will gain emphasis, where citizens can access any and all details; this will also in turn help them gain access to services. Infrastructure in terms of power, water and sewerage access, with high dependency on renewable like solar power are expected. A robust waste management system that has a strong focus on recycling, healthcare and education for low income groups, skill development and training for digital literacy will also likely be on the cards.

Implementing the smart cities project The government has proposed that the smart cities project will be implemented through a Special Purpose Vehicle (SPV) structure. The SPV, headed by a CEO, will make all the necessary decisions and will have the spending power. The cities that have been selected for the smart city project are currently in the process of creating such SPV structures.

The local municipal corporation will be a part of the SPV structure, but will have limited powers. The overall control will lie with the SPV board and the CEO, who are expected to efficiently operate and implement, manage, monitor

and evaluate the respective projects. The SPV will have nominees of the central and state governments and the municipal corporation on its board. The SPV is also expected to have its own revenue streams from maintaining such infrastructure, and will be self-sustainable and maintain its own credit worthiness for raising

additional resources from the market.

Where will the funds come from?Financing of smart cities is certainly considered to be a challenge! Obviously, the government’s grant will not suffice. For example, Chennai’s smart city project alone is likely to cost around `75,000 crore by 2050. Considering that the government is aiming for a hundred smart cities in total, the amount will definitely turn out to be humungous.

This begs the question: Who will fund the smart cities?

Several companies from the United States and the United

Bhubaneswar PuneJaipur SuratKochiAhmadabadJabalpurVisakhapatnamSolapurDavangere

IndoreNew Delhi CoimbatoreKakinadaBelgaumUdaipurGuwahatiChennaiLudhiana Bhopal

The 20 smart cities announced by the Indian government

SMART CITIES WILL BE EQUIPPED

WITH BASIC INFRASTRUCTURE

WITH SMART SOLUTIONS.

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INDIA INC: AT A GLANCEDeal being struck in oil productionThe first global oil production deal in 15 years is being reached between oil producers. Both Saudi Arabia and Russia are party to this deal. The deal is to freeze their output at January levels.

Saudi Arabia and other major producers believe that the deal depends on the cooperation of other big producers. The fate of the oil deal will be decided when OPEC members travel to Iran to persuade the country to participate in a deal to freeze output levels, possibly by offering Tehran special terms. While oil producers are negotiating a production freeze, Iran continues increasing its output and it is unlikely to fall in line with other oil producing countries.

Arab Emirates (UAE) have shown interest to fund these projects. However, affordability is going to be a concern. The residents might need to be required to at least pay for user charges and the tariff for using infrastructure facilities, which could be a challenge!

Challenges: Regulation and oversightImplementing many urban development projects like the JNNURM have, in the past, been extremely challenging due to lack of coordination between different civic bodies and the government. To make any such project work, large reforms are needed in the current urban governance model.

Multiple agencies act in their own interest, and there are no strong integrating and oversight

mechanisms. Responsibility is not fixed, and there is a gross lack of role clarity of different agencies.

All these issues exist in case of the smart city projects as well, and can certainly still serve as severe dampeners in successful execution.

Challenges: Redesign and moderniseAnother major criticism is that when new cities are created, the baggage of urban services does not exist, and there is an expectation that such projects can be speedily implemented. However, converting existing cities that have outgrown themselves and dealing with redesigning and modernising the services (telephone lines, cables, and water and sewerage lines)

could be an enormous challenge, and the whole project can sink under its own weight! A lot of clarity is required on how these issues will be managed!

This initiative of transforming existing mega-cities into smart cities will take decades, if not centuries, especially given the complexities in India’s governance structures. Will such initiatives be able to face multiple governments and still be considered as a priority for continued resource allocation? The success of this project will hinge on continued support from all the parties that come to power.

With the unfortunate reality being that Parliament is unable to pass vital bills, the question is how these issues can be managed and supported across governments in the years to come. A

Vodafone gets government warningThe government has issued a warning to Vodafone that it could seize the company’s assets if the latter does not pay the disputed tax of around `14,000 crore. Vodafone, one of India’s largest corporate investors, has been involved in a string of tax disputes in India since it bought in 2007 Hutchison’s local mobile business to enter into the world’s second-biggest market for mobile phone users. In the long-running

dispute, the telecoms group was held liable for paying capital gains tax on the deal, for which the reminder notice by the Indian tax office has been sent.

Bharti Airtel restructuring operations in AfricaIn order to revive and strengthen its African business unit, which is an aggregate of business across a number of African countries, Bharti Airtel is attempting a rejig of its operations in Africa. The company has elevated Airtel Africa MD and CEO Christian Defaria to the position of Executive Chairman of Airtel Africa. A new chief operating officer (CEO) has also been appointed.

The objective of the restructuring is to help the loss-making operations unit take faster decisions and compete in the market.

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Discussions and outcomes at World Economic Forum

In a four-day meet of the World Economic Forum, leaders from diverse walks of life, from all across the world, gathered to discuss the issues plaguing the world today. In this article,

we discuss some of these issues and their relevance.

T


he World Economic Forum (WEF) is a Swiss body that works through public-

private cooperation and strives to improve the state of the world by bringing together business, political, academic, and other leaders of society to shape global, regional, and industry agendas. The WEF has an annual event at Davos Klosters in Switzerland, and this year, it was conducted from January 20 to 23.

A number of delegates comprising politicians, regulators, central bankers, industry leaders and businessmen, politicians, scientists, entertainment personalities and sportsmen across several nations attended the conference. The conference is structured as a series of breakout sessions that cover specific topics and issues that impact the global economy and state of affairs.

It is extremely difficult to satisfy the combined needs of the host of nations attending the WEF. However, there have always been some common threads that run across such diverse countries and unite them at a discussion table. We shall examine some of these issues that were discussed in the WEF 2016.

World economyThe growth in the European Union has picked up, but it is currently facing problems in terms of migration of refugees from the destabilised Middle East and the associated security issues. Another major concern was the potential exit of Britain from the European Union in the near future.

However, most of the corporate heads and CEOs attending the conference felt that as far as the global economy was concerned, there is no real need for panic. A majority of them believe that the year 2016 will be slow, especially due to the recent China collapse,

but there is no evidence that a recession is looming in the near future.

World leaders like Christine Lagarde, Director of the International Monetary Fund (IMF), are of the opinion that the global economy will grow modestly in 2016, subject to the global players successfully managing the following risks: the challenge of China transitioning itself from industry-led growth to service-led growth, export-oriented market to a consumption-based domestic market economy and an economy primarily focused on consumption rather than investment-driven.

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INDIA INC: AT A GLANCERupee grazes the floorThe Indian rupee fell to near record lows, reaching 68.67 to a US dollar, forcing the Reserve Bank of India (RBI) to intervene to stem further falls. The US interest rate hike and the additional hikes that could follow, clubbed with the slowdown in China and the possibility of its depreciating its currency, the Yuan, are the reasons for the pressure on the rupee.

Infosys on the up and upUnder the leadership of CEO Vishal Sikka, Infosys has managed to secure a positive customer and investor perception.

The company recently announced that it is well on track to achieve its target of reaching $20 billion in top- line by 2020. Since Vishal Sikka’s appointment, the company has been regaining the ground that it had lost over the last three years.

A COUNTRY’S GDP IS VITAL SINCE

IT PROVIDES THE BASIS ON WHICH ITS ECONOMY IS

JUDGED.

Other risks include the low commodity prices, which again is short term and will ease out as demand increases over the next few years. Lagarde emphasised the lack of synchronisation of central banks with respect to monetary policies, which is key, especially given the ease at which funds flow across the globe.

Economic growthThe panel discussions brought out key perceptions of world leaders in terms of the global economic growth for the year 2016. India is likely to post a strong growth of more than 7%. A relatively strong growth is also expected for the United States, pegged at around 2.3%. Europe is expected to have a slow growth (1.8% for Western Europe and 1.2% for Eastern Europe).

Japan, with around 1.7% growth, and a slowing China are the major concerns that can have an impact on the global economy. Other emerging markets like Asia (excluding Japan) are pegged to grow at an average pace of around 5.4%. All of this is naturally contingent on the fact that the start of the year 2016 has not been very healthy, with financial markets depressed in reaction to the China slowdown.

GDP calculationGlobally, the method of calculating the Gross Domestic Product (GDP) has come under much severe criticism. The GDP of a country is considered vital, as it provides the basis on which an economy is judged with respect to its performance.

The overall logic is this: the global GDP as well as the GDP of countries are growing, but the quality of life of most of the population in the world is deteriorating. And these are facts that cannot be reconciled. Currently, countries across the world calculate GDP using very different methods. A case in point is India, which recently changed its calculation methodology and as a result, came under severe criticism, even by our own Governor of the Reserve bank of India Raghuram Rajan.

Fourth industrial revolutionThe subject of the “Fourth Industrial Revolution” was another

matter that was extensively discussed. This includes the emerging concepts of automation, data exchange and various manufacturing technologies, which include cyber-physical systems, the Internet of Things and the Internet of Services. It was agreed that every business today would be a digital

business, and that it would be impossible for a company to opt out.

The digital revolution, which is a $100 trillion opportunity as per an Accenture report, has just begun. Such a revolution has already wiped out over half of the companies on the Fortune 500 list since the year 2000. The message is extremely clear: Companies need to adapt to digital transformation or they will perish!

Digital transformation and its impactThe unprecedented speed of change, as well as the breadth and the depth of many radical changes unleashed by new digital, robotic and 3D technologies, is having a major impact on what we produce and do, how and where we do it and indeed how we earn a living. And while the transformation will proceed differently in advanced and developing parts of the world,

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INDIA INC: AT A GLANCESupreme Court wants defaulter listIndia’s Supreme Court has asked the Reserve Bank of India to furnish details, in sealed covers, of companies that have defaulted on loans amounting to more than `500 crore. In doing so, the Supreme Court rejecting the banking regulator’s argument that it will have to first check the policy on such disclosures.

Bad loans and non-performing assets of banks is one of the biggest challenges Indian banks are facing.

Reliance Infra to sell cement assets to BirlaReliance Infra, an Anil Dhurubhai Ambani company, has announced that it will sell its

cement assets to Birla Corporation for close to `5,000 crore. The transaction is to help the company reduce its debt level as well as gain cash flow for investments in defense business.

Reliance Infra had a consolidated debt of `25,800 crore at the end of the last financial year and is selling several assets to improve financial health. The group had announced plans to raise `14,000 crore by selling cement and road assets by March 2017. In November, itsaid it was selling a 49 per cent stake in its power generation, distribution and transmission business in Mumbai to Canada’s Public Sector Pension Investment Board for an estimated sum of `3,500 crore.

no country or market will be spared from the tidal wave of change.

Therefore, at the end of the day, it is simply a question of how companies adapt to such a change!

New technologies and approaches are merging the physical, digital and biological worlds in ways that will transform humankind. Leaders believe that the implications for humans should be at the very heart of our strategy to navigate the Fourth Industrial Revolution. A lot will depend on how nations, companies and regulators deal with such human factors when addressing the digital transformation.

One of the topics discussed in the context of the digital transformation was the growth of the sharing economy (the Ubers and Olas of the world), which is a force to reckon with, around which new employee engagement and contracting mechanisms need to evolve.

The Chinese slowdownA number of sessions focused on 2015 being a turbulent year for China, which hit a quarter century low of 6.9%, compared to 7.3% a year earlier. This resulted in a huge outflow of capital, a downslide in the currency and many instances of stock market crashes, which the country’s regulators tried to cover up through extensive interventions. As discussed and analysed in previous issues of Advanc’edge MBA, a further fall in the Chinese stock markets can send shockwaves across global financial markets.

Other major issuesThe future of Europe, which is recovering from a recession, the lessons learnt from countries like Greece, and the lack of solidarity between various members of the European Union were discussed. The impact of terrorism and the

Paris terror attack naturally was highlighted as an area of concern.

The resultant problem of refugees and its impact on affected nations was examined in detail. It may be noted that in the first three weeks of this year, more than 30,000 people have crossed from Turkey into Greece. This is alarming, especially since this is just the tip of the iceberg!

Other issues like the gender gap, sustainable development and how to transition to a low-carbon economy were all touched upon. Growing tensions in the Middle East, the Saudi Arabia-Iran faceoff and

how members can work together for a more progressive world were also taken up.

The Indian delegationFrom an Indian perspective, this year’s Davos push, led by Finance Minister Arun Jaitley, saw close to 150 participants across politics, business, education and regulation. With regard to India, Indian leaders proclaimed that India’s growth story would continue, and it will remain a bright spot in the world, with the ease of doing business improving in the world’s fastest growing economy. A

HCL inks deal with VolvoHCL Technologies has signed a $895 million deal with Volvo for enabling the latter to access

technologies like cloud, automation, business intelligence and big data. Post the deal, 40 clients of Volvo’s IT services arm from the Nordics and France region will move to HCL along with 2,500 Volvo employees across 11 countries. Large Indian companies are now focusing on offering such technologies and are steadily moving away from the traditional application development and maintenance business.

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India’s economic scenario: Ups and downs

The Indian economy has been unable to meet expectations. Apart from natural calamities, other factors also contributed to the slow growth and poor corporate performance. With all

this in mind, the budget for 2016-17 might not be a rosy or even a populist one.

A


t a high level, the Indian economy has not shown any signs of great

performance. It is a matter of concern that in the last couple of years since the current government took over, the much vaunted “acche din” do not seem to have arrived yet!

India’s economic growth for the third quarter ended December 2015 reached 7.3%, as compared to the earlier forecast of 7.7%. The manufacturing sector in December 2015 took a beating, and turned out to be one of the slowest over the past 24 months. Partly responsible for

the slowdown in industrial output during December 2015 were the floods that adversely affected the strong manufacturing base in Chennai and its surroundings areas. Capital goods output shrunk by close to 20%. However, in January 2016, manufacturing activity rebounded sharply and expanded to a four month high.

Overall, during April to December 2015, the industrial output grew by a modest 3.1% compared with 2.6% a year ago. The growth of the Index of industrial production (IIP) was also marginal. Marginal improvements were seen in

the mining sector output and consumer goods output. Weak overseas demand showed up on the continued poor export performance of the country.

Reality VS forecast: A mismatchWhile economic data for the nine months of 2015-16 has shown very marginal growth, the growth forecast for the complete 2015-16 financial year seems to be very optimistic! Recent economic data and projections released by the Central Statistical Organization (CSO) are admittedly a bit contradictory.

The overall Gross Domestic Product (GDP) forecast for the fiscal year 2015-16 is pegged at 7.6%. The government recently lowered its economic growth forecast for 2015-16 to 7.0 to 7.5% from the 8.1 to 8.5% that had been projected earlier. RBI Governor Raghuram Rajan too had raised concerns on such projections, especially since the GDP is being calculated using a different methodology for the past 18 months.

Woes remain for manufacturing sectorIndia’s manufacturing sector is yet

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INDIA INC: AT A GLANCEWalmart still betting big on IndiaUS-based retail giant Walmart is gearing up

its India presence by expanding store strength from the current 21 to 70 by 2020, in the cash-and-carry retail business format. For this expansion the company has committed to invest around $240 million to $300 million.

Walmart’s technology centre in Bengaluru is also expanding its role and headcount. The centre, which has at present 750 employees, is expected to ramp up the figure to 1,200 by March this year.

Ikea to set up shop in BengaluruSwedish company Ikea, the global low cost high value furniture manufacturer, is planning to make investments of more than `2,000 crore in India for setting

up new stores. Ikea is proposing to set up four new stores in Bengaluru, the state capital. Each Ikea store in Bengaluru will generate 500 local jobs and the company will reserve 50% of them for women.

Ikea has been sourcing products from India for close to 30 years; it has 48 Indian suppliers. Currently, Ikea sources €300 million worth of goods from India and expects to double this by 2020.

to recover fully, as uncertainties in the commodity markets made the future somewhat unpredictable. There has been an exodus of funds moving out of emerging economies into the United States, where the interest rates are projected to be increased over the short to medium term. Exports have significantly suffered as well!

More importantly, 2015 saw one part of India being largely affected by drought, while in parallel, another part of the country witnessed heavy flooding.

From an inflation perspective, while the consumer price index based inflation at 5.69% increased to a 17-month high in January, retail inflation, however, remained within the January target of 6%, as had been set by the RBI. Inflation has been showing a rising trend, in spite of the prevailing low crude oil prices. Food inflation increased to 6.85% in January, with retail price of cereals and products rising to 2.19% from 2.12% in December.

Ground realityThe bigger concern, however, is that the growth projections for 2015-16 as a whole, as well as the current growth rate in the third quarter of 2015-16, do not seem to be reflective of the growth as seen on ground! We are unable to witness the 7% plus growth in terms of corporate performance!

India’s corporate sector, including commercial banks, has reported poor performance. Net profits of large companies have fallen by more than 10% as compared to the corresponding period last year — this is certainly not good news! The poor performance is due to top line (revenues) falling by more than 3.3%.

Gujarat now home to world’s largest scooter manufacturing plantThe world’s largest scooter manufacturing plant is coming up in Gujarat and is being put up by Honda Motor Company of Japan. Spread

over 250 acres, the facility has come up in just 13 months with an investment of nearly `1,100 crore. Initially, the plant will produce around 6 lakh scooters per annum, which will then be scaled up to 12 lakh scooters per annum by mid-2016.

Gujarat is becoming a hot destination for manufacturing companies; companies like Honda, Ford, Suzuki and Tata Motors already have a major presence.

The Indian economy has primarily remained sluggish. Although there was a relief in lower inflation, the cost savings have not been that great to compensate for the drop in revenue, hence the fall in profits!

More than 20 public sector banks have reported aggregated losses of close to `9,000

crore. The purchasing power in the economy has also been poor, and this is reflected in the poor performance of the FMCG/D companies. Capital goods manufacturers like Larsen & Toubro have seen a 30% drop in their overall market capitalisations over 2015.

Furthermore, BHEL (heavy electrical business) reported a net

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loss of around `1,000 crore in the latest quarter. All this is proof that new orders are not flowing in, and that the economic growth, while quite rosy on paper, actually does not reflect the actual situation on the ground.

Market caps take a hitDuring February, India’s top 10 most valued companies lost more than `2 lakh crore in their combined market valuation. Tata Consultancy Services (TCS) was hit the worst — its market capitalisation went down by close to `40,000 crore. TCS, considered the bellwether of the technology industry, saw this sharp erosion in its market cap of more than 30% over the last nine months.

The Sensex sank to its lowest levels in the last 20-odd months, along with which it pulled down the market cap of large companies across sectors. Oil and gas, banking, consumer goods, IT, hotels — none of the industries were spared!

China remains a concernWith India steadily losing the sheen on its exports, the China issue is a major concern. India’s exports continued to decline for

the 13th month in a row, and its December exports were down by nearly 15% as compared to a year earlier. If China were to allow a major devaluation in its Yuan, the pressure on the Indian rupee could be substantial. This is a significant concern, since the rupee is now inching towards ̀ 70 to a US dollar, day after day!

China’s devaluation would not only make Indian goods less competitive in the Chinese market, but also adversely impact India’s ability to compete with the Chinese in other developed markets. Whether China allows its Yuan to depreciate drastically is still not clear, but analysts agree that China could be forced to move in that direction if its economy continues to slow down, in order to remain competitive!

Budget 2016-17 outlookThe biggest challenge for the government is to achieve the fiscal deficit target of 3.9% of the GDP. In all likelihood, the government will present a budget that won’t be a highly populist one, especially if it aims to tie down the deficit figures to reasonable levels. Since this is not an election year, the government can afford to do so!

Although the common man is expecting a number of allowances from the prime minister’s third budget, and is looking forward to the as-yet elusive “acche din”, the reality is that the budget is not a forum for such expectations. The salaried class is expecting an increase in the basic exemption limit. The common man is already extremely unhappy that he has to give away the LPG subsidy, and to top it all, also pay an additional cess of 0.5% to cover Swatch Bharath Abhyan!

None of these issues or budget proclamations will drastically improve the economic situation. What is required is the emergence of a true bipartisan politics that will consider the economic growth of the nation as the single most important priority!

Today, with the parliamentary process virtually collapsed, the ability of the government to make any change is seriously being constrained. Delays in decision-making and implementation can seriously harm the process of development. A spirit of accommodation, cooperation and consensus-building should be the preferred mode of decision-making. A

INDIA INC: AT A GLANCEIndia Inc fixes eye on defence India’s large companies are betting big on the Indian defence sector. Tata Motors, Bharat Forge and General Dynamics have forged an alliance to bid for the `78,000 crore project of making combat infantry vehicles for the Indian Army under the Future Infantry Combat Vehicle (FICV) Program.

The FICV is an amphibious, tracked, armoured vehicle, operated by a crew of only three. The compact vehicle can be airlifted and dropped into combat zones while being armed with anti-tank guided missiles with ranges of up to four kms. The FICVs will replace Indian Army’s fleet of obsolete 2610 Russian BMP-2 carriers

Tata Steel posts `2,100 crore lossWith commodity prices crashing around the world, India’s Tata Steel has posted a third quarter loss of more than `2,100 crore, far more than what analysts had forecast. Net sales

fell 17% to around `27,000 crore. The company sold 6.37 million tonnes of steel during the past quarter versus 6.29 million tonnes a year earlier.Other reasons for Tata Steel’s losses include large scale dumping of steel by Chinese manufacturers into India due to their excess capacity.

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Newsin brief

Here are some

interesting

titbits from

over the last

month

Ambani, Premji, Shanghvi among world’s 50 wealthiestThree Indians – Mukesh Ambani, Azim Premji and Dilip Shanghvi – have made it to a global list of 50 wealthiest people. The list is once

again topped by Bill Gates.In this new list by Wealth-X in collaboration with

Business Insider, Mukesh Ambani was ranked at the 27th place, while Azim Premji and Dilip Shanghvi were ranked at the 43rd and 44th place.

The list was topped by Bill Gates who has assets of $87.4 billion, followed by Spanish businessman Amancio Ortega Gaona and Warren Buffett in the second and third place with wealth of $66.8 billion and $60.7 billion respectively.

Govt initiatives like Make in India and Smart Cities likely to create over 5 lakh new jobs in FY17 Ambitious government

initiatives such as Make in India and Smart Cities are likely to create more than 5 lakh new jobs in FY17 on the project side, according to recruiters and headhunters.

ManpowerGroup India, Kelly Services and TeamLease Services are among those that see a four-fold jump in demand for workers in rail and metro transport, construction, energy, especially renewables, ports and other infrastructure.

The recovery of these jobs will push salaries to an all-time high of `1 crore-plus for leadership roles, they said.

B-schools placement season; 12% rise in average offer size The placement season for this year’s B-Schools put up a pretty picture with a 12% increase in average offer size. There was no dearth of offers from domestic as well as international MNCs and average

salaries witnessed a double digit growth.Reflecting the optimistic business sentiment, corporates across industry verticals showed keen interest in

this year’s placement season. Moreover, many firms also increased their number of offers this year and hiked the average offer size.

Naturally, some of the country’s leading business schools like IIM Bangalore, IMI - New Delhi, and IIM Kozhikode are revelling in the robust placements results.

Alphabet overtakes Apple to become the world’s most valuable companyGoogle’s parent company Alphabet is all poised to overtake Apple and become the world’s most valuable public company after it reported better-than-expected quarterly revenue.

It reported a profit rise to 4.9 billion US dollars, up from 4.7 billion in the same period last year, boosted by strong sales of advertising on mobile devices and YouTube.

According to analysts, the spike in Alphabet’s share price gives the company a potential estimated value of 558 billion US dollars, with Apple currently revalued at 534 billion.

Google’s shares rose 6.4% to $820 in after-hours trading, putting the company on track to overtake Apple.

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Delhi HC verdict: Eldest woman member can be karta of the Hindu joint family

IT At a time when women are fighting for their rights to enter temples, the Delhi high court has ruled in a landmark verdict that the eldest woman member of a Hindu undivided family can be its karta (manager of the family and its properties).

Extending the meaning of Section 6 of the Hindu Succession Act, which brings women on a par with men with regard to inheritance in a Hindu undivided family, Justice Najmi Waziri said the rights of a female family member cannot be curtailed when it comes to management of the property.

India’s first railway university to be set up in VadodaraIndia’s first railway university will be set up in Vadodara, minister of state for railways Manoj Sinha announced.

The Gujarat state government has been helping Indian Railways identify land to set up a full-fledged railway university.

The ministry of human resource development has worked out detailed modalities for this and it will be soon placed in Parliament for approval.

India becomes world’s second largest smartphone market, surpassing the US India has overtaken the US to become

the world’s second largest smartphone market, crossing 220 million in active smartphone users in 2015. This is the same year when Samsung maintained its leadership position and Apple made big strides.

The smartphone shipments in India also grew a healthy 15% annually in the October-December quarter, and rose 23% on year to cross 100 million units milestone, according to the firm Counterpoint Research. Samsung, Micromax and Apple are the three smartphone makers which held on to their first, second and third positions by volume market shares in 2015.

Venkaiah Naidu announced the first list of ‘Smart Cities’

Urban development minister Venkaiah Naidu came out with a list of 20 ‘Smart Cities’.

An investment of `50,802 crore have been proposed in selected smart cities and towns during the five-year period.

The selected cities would be equipped with basic infrastructure, efficient urban mobility and public transport, IT connectivity and e-governance mechanisms.

The top 20 ‘Smart Cities’ include Bhubaneswar, Pune, Jaipur, Surat, Kochi, Ahmedabad, Jabalpur, Visakhapatnam, Sholapur, Davangere, Indore, New Delhi Municipal Corporation, Coimbatore, Kakinada, Belagavi, Udaipur, Guwahati, Chennai, Ludhiana, Bhopal.

61% Indians aged 45-plus want to retire at 50: Survey An interesting survey by HSBC has shown

that nearly 61 per cent of the working population in India aged 45 plus, want to retire in the next five years.

The reason shown for an inclination towards an early retirement is mostly work-related pressure, which is affecting their mental and physical health.

HSBC’s latest edition of ‘The Future of Retirement Healthy New Beginnings study’ also revealed that financial constraint is the most important reason why people are unable to retire.

However, 14 per cent of them believe they will be unable to do so since they would struggle financially.

India’s tallest skyscraper’s 13 upper floors deemed illegalIn a fresh setback for India’s tallest skyscraper, Palais Royale at Worli, the Bombay high court on January 27, held that the 13 upper floors of the 56-storey building as well as a 15-storey public parking tower next to it were ‘completely illegal’.

A division bench of justices Abhay Oka and C V Bhadang called their construction a ‘brazen defiance’ of rules, and has left it to the municipal commissioner to decide the fate of the structures.

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Indians would rather spend on services than smartphones: Accenture surveyIndia considered to be one of the fastest growing markets for smartphones may be reaching a saturation

point as most of the people are not looking to upgrade their phones in next 12 months, according to a digital consumer survey by Accenture. On the other hand many people are looking to increase their expenses on services.

“Only 48 per cent of consumers plan to purchase a smartphone in the next 12 months; this is a six-point drop from the purchase intent rate last year and a more than nine-point drop from the 2014 peak,” Accenture said in the survey.

India’s GDP projected to grow at 7.6% in FY16 India is all set to become the world’s

fastest-expanding major economy despite a slight moderation in the third quarter, with FY16 GDP projected to grow at 7.6% compared with 7.2% last year.

This will help the Modi regime deflect criticism that it’s not doing enough to accelerate recovery.

The faster growth is largely because of an upward revision in first-quarter growth that showed the economy lost steam in the third quarter to 7.3%. First-quarter growth was revised to 7.6% from 7% while that for the second quarter was restated to 7.7% compared with 7.4% estimated earlier.

WHO wants films to get age-wise ratings with tobacco imageryThe WHO wants to introduce age-classified

ratings for films and other entertainment programmes with tobacco imagery to restrict the number of new adolescent smokers.

In 2013-14, adolescents in the US were exposed to 3.1 billion in-cinema tobacco use impressions, 46 per cent of which were from PG-13 films.

Praising the pioneering legislative initiatives made by India and China in protecting non-smokers from smoking imagery in entertainment products.

The US National Cancer Institute and the US Surgeon General have concluded that smoking in films leads to 37 per cent new adolescent smokers.

World’s cheapest smartphone brings in mixed reactions. World’s cheapest smartphone has been

launched and priced at `251. This 4-inch display device, with 1 GB RAM, 8 GB internal memory and dual-SIM option, was manufactured by a not-so-reputed company from Uttar Pradesh.

However, alleging unfair price under-cutting, the mobile manufacturers association is calling for a government probe into the costing of the phone. Eyebrows were also raised at the similarity in looks between the phone and Apple’s iconic iPhone.

Meanwhile, the phone was launched during the ‘Make in India’ event, where investment commitments worth `15.2 lakh crore were made.

Amazon’s subsidiary Junglee.com will soon be selling used goods Amazon’s subsidiary Junglee.com will soon be selling used products. Online retailer Amazon, which has been testing this service since last July, will be formally launching the service in a few weeks time. This will extend the reach of this shopping services site to a market where

classified listing portals are vying for supremacy. The portal expects to gain a lead by providing pick, pack and delivery services for merchants, a feature that it

claims will help differentiate it from rivals.

Twelve lakh additional taxpayers brought into the tax net

The income tax department has brought in nearly 12 lakh additional taxpayers into the tax net.

This was done using a special intelligence tool that the IT department had started using a few years ago to track those high-spending individuals who had not been not been filing returns previously.

For the assessment year 2014-15, at least 11.77 lakh people filed returns after the I-T department served notices after coming to know of their taxable income.

To identify such defaulters, the department tracks data of bank statements, property purchases, shares and equity transactions, credit card expenditure and foreign travels.

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YOUR FOR

GENERAL AWARENESS

ONE STOPSOLUTION

PREPARATION

www.imsindia.com/GQ

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The story is about an old man Jacob Jankowski recounting his days in a circus in America’s

Depression era. Even though the storyline might seem a little

cliché, with a boy stealing his ladylove away from her evil husband, it’s the background and the other side characters that make the story stand out from the rest.

From Jacob’s bad tempered dwarf roommate, to the occasionally psychopathic equine master, to the sinister ring master,

and Uncle Al, every character has an interesting story. Even the animals seem to be more than mere brute creatures, with the most adorable being an elephant, who for a non-speaking character has an edge and humour to her. Water for Elephants is fun, sweet and thrilling and will pull you into the mysterious life of the circus in such a gripping manner that you won’t want to leave.

In this book, Richard Feynman (1918-1988), winner of the Nobel Prize in physics, recounts in his inimitable

voice his experience and ideas on atomic physics with Einstein and Bohr and ideas on gambling with Nick the Greek.

The book thrives on his outrageous adventures, from cracking the uncrackable safes guarding the most deeply held nuclear secrets; painting a naked female toreador – and much else of an eyebrow-raising nature.

Google cofounder Sergey Brin had once commented that this autobiography of Richard Feynman inspired him to dedicate his career to blending technology and creativity.

The book bares open Feynman’s life in all its eccentric glory – a combustible mixture of high intelligence, unrestrained interest, and uncontrolled impudence. Overall, this is a highly interesting book for sure.

What is it that an executive is supposed to do? The author Peter F. Drucker defines an executive’s

job role when he specifies that it’s the ability to ‘get the right things done’. And, that usually includes doing what other people have overlooked as well as avoiding what is unproductive. Drucker harps on the fact that intelligence, imagination, and knowledge may all be wasted in an executive’s job without the

acquired habits of mind that mold them into results.Drucker identifies certain practices essential to business effectiveness that can,

and must, be learned: a) Managing time, b) Choosing what to contribute to the organisation, c) Knowing where and how to mobilise strength for best possible results, e) Setting the right priorities and finally f) Knitting all of them together with

effective decision-making. Ranging widely through the annals of business and government, Peter F. Drucker demonstrates the distinctive skills of executives and offers fresh insights into old and seemingly obvious business situations. Amazon CEO Jeff Bezos found this book such a brilliant read that he chose this among the three books that he had his senior managers read for a series of all-day book clubs.

Since you’re planning on doing your MBA, you need to be well read, and not just on current affairs. In this section, we offer you some choices of books that will broaden your perspective, and you will

find that you will never be at a loss in a discussion!

The Effective Executive

Author: Peter F. Drucker

Publisher: HarperBusiness

Genre: Non-fiction

Price: `864

Water for Elephants

Author: Sara Gruen

Publisher: Hodder & Stoughton

Genre: Fiction

Price: `339

Surely You’re Joking Mr

FeynmanAuthor: Richard P Feynman

Publisher: Random House

Genre: Autobiography

Price: `389

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Quant

Are you a Brainiac? In this section, we shall explore several different types of questions from the various areas of entrance exams like the CAT, CET, GMAT,

etc, and how to best solve them.

1. If in the following equation x and y are integers, then how many sets of solution do the equation have? log3(x – 13) + log3(x + 13) = log3(y + 17) + log3(y – 17) 1] 0 2] 1 3] 2 4] infinite

1. The equation can be reduced to (x + 13)(x – 13) = (y + 17)(y – 17) y2 – x2 = 120 i.e. (y + x)(y – x) = 2 × 2 × 2 × 3 × 5 Taking (y – x) = 2; (y + x) = 2 × 2 × 3 × 5 = 60 This gives y = 31 and x = 29 Taking (y – x) = 4; (y + x) = 2 × 3 × 5 = 30 This gives y = 17 and x = 13 If y – x = 6, y + x = 20. This gives y = 13, x = 7. If y – x = 10, y + x = 12. This gives y = 11, x = 1. We cannot have y – x = 3 or 5 or 8. But for the given equation to hold true we cannot have x 13 and y 17. This implies x = 29 and y = 31 is the only solution. Hence, [2].

3. 137 men participate in a knock-out singles tennis tournament. If the total number of players in a particular round is odd then one person gets a bye to the next round. What is the minimum number of matches required to decide the winner? 1] 34 2] 68 3] 137 4] 136

3. Because 136 players are eliminated, there must be 136 matches. Hence, [4]. 4. P, Q, R and S are points on the circle with centre O and radius 6 cm. M is the midpoint of PQ. OPQ and MSR are equilateral triangles. If x is the length of the sides of the larger equilateral triangle then, what can be the value of x?

1] cm 2] cm 3] cm 4] cm

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VerbalDirections for Questions 1 and 2: The sentences given in each question, when properly sequenced, form a coherent paragraph. Each sentence is labelled with a letter. Choose the most logical order of sentences, from among the given choices, to construct a coherent paragraph.

Q1. A. It could be confusing. B. Unfortunately there would later be another Gupta Chandra-Gupta, so the founder of the Gupta dynasty is

designated as Chandra-Gupta I – which naturally brings to mind the Mauryan Chandragupta. C. History is said to repeat itself. D. But the first date was, of course, BC, the second AD; and to clarify matters further, the Gupta Chandragupta

is often phonetically dismembered as ‘Chandra-Gupta’ or ‘Chandra Gupta’. E. Seldom, though, does it oblige as readily as with the creators of ancient India’s two greatest dynasties: a

Chandragupta had founded the Mauryan empire in c320; just so did a Chandragupta found the Gupta dynasty in c320.

1] CADEB 2] CEADB

4. Figure will be as shown.

Now D MOQ ~ D MON

l (MO) = 6 sin60° = cm l (MN) = 6 cm Also l (ON) = 6 × sin30° = 3 cm Now D MON ~ D MDR \

Let l (OD) = y cm

\

= y = –

In D ODR, l (DR)2 + l (OD)2 = l (OR)2

i.e. + y2 = 62 = 36

+ 3( – 3)2 = 36

i.e. + + 27 – 9x = 36

i.e. x2 – 9x – 9 = 0

x = = cm. Hence, [1].

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3] CDAEB 4] CEDAB

Statement C is clearly the first sentence, judging by the options. It connects best to E: ‘it’ in E refers to ‘history’ repeating itself. So options [1] and [3], which lack this CE link, can be ruled out. A fits best between E and D: the similarity between the two Chandraguptas and their dates mentioned in E ‘could be confusing’, but D attempts to resolve this partially by clarifying that the dates were BC and AD, and showing how the two names can be differentiated. Thus option [4] is ruled out, and we get the right sequence, CEADB. Hence, [2]

Q2) A. For more than half a century, physicists have been quietly aware of a dark cloud looming on the distant horizon of their field.

B. The other is quantum mechanics, which provides a theoretical framework for understanding the universe on the smallest of scales: molecules, atoms, and all the way down to subatomic particles like electrons and quarks.

C. But through years of research, physicists have come to a disturbing conclusion: as they are currently formulated, general relativity and quantum mechanics cannot both be right, as they are mutually incompatible.

D. One is Albert Einstein’s general relativity, which provides a theoretical framework for understanding the universe on the largest of scales: stars, galaxies, clusters of galaxies, and beyond to the immense expanse of the universe itself.

E. There are two foundational pillars upon which modern physics rests.

1] AEDBC 2] AECDB 3] EDBCA 4] ADECB

The EDB link is the most obvious one in the paragraph: E mentions the two foundational pillars of modern physics, D states that one is general relativity, and C states that the other is quantum mechanics. So option [4] can be ruled out. A makes more sense as the first sentence (as in [1] and [2]) than the last (as in [3]), since it introduces the problem at hand. D and B must precede C, as the former two introduce general relativity and quantum mechanics respectively, while C states the problem with them. So [2] is ruled out, and the correct sequence has to be AEDBC. Hence, [1].

Directions for Questions 1 and 2: The sentences given in each question, when properly sequenced, form a coherent paragraph. Each sentence is labelled with a letter. Choose the most logical order of sentences, from among the given choices, to construct a coherent paragraph.

Q3. A. Autocomplete is one of those modern marvels of real-time search technology that almost seems like mindreading.

B. Thanks to analysing and mining what millions of other users have already searched for and clicked on, C. Google knows that when you start typing a query with a ‘d’, your most likely looking for a dictionary. D. Besides the efficiency gains of not having to type as much, suggestions can be serendipitious and

educational, spurring alternative query ideas. E. In the process, our search behaviour is subtly influenced by exposure to query possibilities we may not

have considered if left to ourself. 1] A 2] B 3] C & D 4] B, D & E

There is a subject-verb error in A: ‘seems’ should be in the plural – i.e. ‘seem’ – as its subject is ‘marvels’ not ‘one’. The correct phrase in C should be ‘you are’ or its contraction ‘you’re’, not ‘your’. The correct spelling in D should be ‘serendipitous’ not ‘serendipitious’. E has a pronoun error: the correct word is ‘ourselves’ (i.e. plural) not ‘ourself’, since ‘our’ automatically implies that the people in question are in the plural. Therefore, only B is completely correct. Hence, [2]

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WOR

D DOS

E

M AT C H T H E W O R D S W I T H T H E I R M E A N I N G S

Thievery in Cyberspace

a. Originating in or characteristic of a distant foreign country.

b. Interesting because full of variety.

c. So delicate or precise as to be difficult to analyse or describe.

d. Having no material form or being; incorporeal.

e. The notional environment in which communication over computer networks occurs.

f. Separated from or existing without the body.

g. Shining with a shimmering or sparkling light.

h. Anxiety or fear that something bad or unpleasant will happen.

i. Physically or mentally stimulated from the effects of a drug or stimulant.

j. Visit (a place) often.

k. The attitude of a person or organization towards something; a standpoint.

l. Relating to or involving consent or consensus.

m. Fastening (a thing) around

something in the manner of a strap.

n. Disregard for something that should be considered.

o. A select group that is superior in terms of ability or qualities to the rest of a group or society.

p. A person adept at aggressive selling or illicit dealing.

q. A feeling of triumphant elation or jubilation; rejoicing.

r. So small as to be insignificant or hardly visible.

1. Hustler – (huhs-ler) (n)

2. Jacked – (jakt) (adj)

3. Cyberspace – (sahy-ber-speys) (n)

4. Disembodied – (dis-em-bod-ee-d) (adj)

5. Consensual – (kuh n-sen-shoo-uh l) (adj)

6. Exotic – (ig-zot-ik) (adj)

7. Glittering – (glit-er-ing) (adj)

8. Rich – (rich) (adj)

9. Apprehension – (ap-ri-hen-shuh n) (n)

10. Strapped – (strap-ed) (v)

11. Minute – (mi-nyoot) (adj)

12. Subtle – (suht-l) (adj)

13. Bodiless – (bod-ee-lis) (adj)

14. Exultation – (eg-zuhl-tey-shuh n) (n)

15. Frequented – (fri-kwent-ed) (v)

16. Elite – (ey-leet) (adj) 17. Stance – (stans) (n)

18. Contempt – (kuh n-tempt) (n)

Case was twenty-four. At twenty-two, he’d been a cowboy, a hustler, one of the best in the Sprawl. He’d been trained by the best, by McCoy Pauley and

Bobby Quine, legends in the biz. He’d operated on an almost permanent adrenaline high, a by-product of youth and proficiency, jacked into a custom cyberspace deck that projected

his disembodied consciousness into the consensual hallucination that was the matrix. A thief he’d worked for other, wealthier thieves, employers who provided the exotic software required to the glittering walls of corporate systems, opening windows into rich fields of data.

He still wasn’t sure how he’d been discovered, not that it mattered now. His apprehension was death, but they’d only smiled. They damaged his nervous system

with a wartime Russian mycotoxin.

Strapped to a bed in a Memphis hotel, his talent burning out micron by micron, he hallucinated for thirty hours. The damage was minute, subtle, and utterly effective.

For Case, who’d lived for the bodiless exultation of cyberspace, it was the Fall. In the bars he’d frequented as a cowboy hotshot, the elite stance involved a certain relaxed

contempt for the flesh. The body was meat. Case fell into the prison of his own flesh.

Excerpt modified from William Gibson’s Neuromancer

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PUBLICATIONSa division of

IMS Learning Resources Pvt. Ltd.,

. Tel. No. Website : www.advancedge.com/mcg

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The Cheque/DD should be issued in favour of “IMS Learning Resources Pvt. Ltd.” payable at Mumbai. (Add Rs.40/- for shipping and handling charges for 3 books)Fill in the form and send it along with your Cheque/DD to : IMS Publications, a division of IMS Learning Resources Pvt. Ltd.,

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A quiz to boost your General Knowledge

1. Name the award, which is considered highest in peacetime gallantry in India.

a. Param Vir Chakra b. Kirti Chakra c. Ashok Chakra d. Shaurya Chakra

2. On which date is the National Girl Child Day celebrated? The day is celebrated to encourage the girl’s situation in the society, to offer more supports and new opportunities to the girls in the country.

a. December 24th b. January 24th c. February 24th d. March 24th

3. Recently, Shankar Ghosh passed away at the age of 80 in Kolkata. He was renowned as a...

a. Tabla player b. Classical Singer c. Santoor player d. Flute player

4. Nayani Krishnakumari, the well-known writer, passed away recently at the age of 86. She was a pioneer in folklore studies and women’s literature.She wrote in which language?

a. Kannada b. Tamil c. Telugu d. Marathi

5. Name the city in India, where the 34th National Rowing Championship was held.

a. Bengaluru b. Kolkata c. Thiruvananthapuram d. Hyderabad

6. This software giant has set to build the world’s tallest free-standing clock tower at its global education centre in Mysuru. The proposed 135-metres tall will be taller than Big Ben (96 m) in London. Which software giant are we talking about?

a. Infosys b. TCS c. CTS d. Wipro

7. Name the state in India, which is set to launch ‘Gender Taxi’, owned and operated by transgenders?

a. Maharashtra b. West Bengal c. Kerala d. Madhya Pradesh

8. This country has announced that one of its companies would open world’s first ‘robot-run’ farm. The farm, measuring about 4,400 square metres, will have floor-to-ceiling shelves. Name the country.

a. United States of America b. Japan c. China d. France

9. Name the Indian film that has bagged the Best First Foreign Film Award by the 2016 French Syndicate of Cinema Critics (FSCC).

a. Masaan b. Titli c. Shahid d. Court

10. The World Wetlands Day is observed annually on February

2 to mark the adoption of the Convention on Wetlands in the city of Ramsar in Iran in 1971. What was the theme for World Wetlands Day this year?

a. Wetlands and Tourism b. Wetlands for our Future

– Sustainable Livelihoods c. Wetlands and Agriculture

d. Forests and Wetlands

11. When is World Cancer Day observed?

a. February 1 b. February 2 c. February 3 d. February 4

12. Name the author of the book Nathuram Godse – The Story of an Assassin.

a. Anup Ashok Sardesai b. Vijai Sardesai c. Damodar Naik d. Deepankar Kukrehjha

13. The inaugural Kerala Literature Festival 2016, which concluded last month, had been a great success. In which city of the state was it held?

a. Kottayam b. Kozhikode c. Kochi d. Thiruvananthapuram

14. This famous player has been named in ICC’s newly appointed Anti-Corruption Oversight Group. Name him.

a. Sachin Tendulkar b. Sunil Gavaskar c. VVS Laxman d. Rahul Dravid

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15. Name the airport in India, which is the first one in the country to develop a colour-coded map.

a. Kempegowda International Airport

b. Jaipur International Airport c. Netaji Subhash Chandra

Bose International Airport d. Indira Gandhi International

Airport

16. The government of this Indian state has launched this initiative called “School on Wheels”. Under the initiative, a van, which houses a library, has been set up by an NGO ‘Taabar Society’. Name the state where this initiative has been started.

a. Rajasthan b. Madhya Pradesh c. Uttar Pradesh d. Bihar

17. Name the state of India that will come up with the first ever aviation park.

a. Kerala b. Gujarat c. Karnataka d. Tamil Nadu

18. What is India’s position in the world when it comes to milk production?

a. 1st b. 2nd c. 3rd d. 4th

19. Name the Indian organisation with which the Delhi Police has tied up in order to track crime in the city.

a. National Cadet Corps b. Indian Army c. Defence Research and

Development Organisation d. Indian Space Research

Organisation

20. Name the author of the book, A kingdom for his love.

a. Amitav Ghosh b. Kiran Desai c. Anita Desai d. Vani Mahesh

21. The UNESCO world heritage site Elephanta Island, also known as the ‘City of Caves’, will soon get completely electrified by Independence Day 2016. In which state of India is it located?

a. Andhra Pradesh b. Tamil Nadu c. Maharashtra d. Madhya Pradesh

22. The BCCI has banned this umpire for five years on charges of corruption and misconduct. He was sought after by the Crime branch in connection with the spot- fixing scandal that rocked the Indian Premier League in 2013. Name him.

a. Asad Rauf b. Ahsan Raza c. Aleem Dar d. Sanjay Hazare

23. Vedanta Group’s owner Anil Agarwal has announced that his firm Twinstar Display Technologies will set up India’s first LCD manufacturing facility, known as Panel FAB, with an investment of $10 billion. Name the state where the LCD panel plant will be set up?

a. Andhra Pradesh b. West Bengal c. Maharashtra d. Gujarat

24. The World Radio Day is observed every year to educate people, to provide information and to promote freedom of expression across cultures. This year’s theme of the day is “Radio in Times of Emergency and Disaster”. When is the day observed?

a. February 12th b. February 13th c. February 14th d. February 15th

25. Name the person who has been honoured with the ‘Pride of Kerala’ award by the World Malayalee Council and Kairali TV.

a. Vidya Balan b. Dr. K.J. Yesudas c. Shivshankar Menon d. Shashi Tharoor

26. Name the country that won the ICC U-19 Cricket World Cup 2016.

a. Sri Lanka b. India c. Australia d. West Indies

27. Name the man who won the best actor award at the 69th British Academy of Film and Television Arts (BAFTA) 2016.

a. Michael Fassbender b. Leonardo DiCaprio c. Matt Damon d. Eddie Redmayne

28. Name the e-commerce company that has launched ‘Tatkal’ initiative for small and medium businesses.

a. Myntra b. Flipkart c. Amazon d. Jabong

29. Name the water body where the Woody Island is located.

a. South China Sea b. Pacific Ocean c. Bay of Bengal d. Indian Ocean

30. Taxi app Uber has signed a Memorandum of Understanding (MoU) with the government of an Indian state to help create 75,000 entrepreneurship opportunities. Name the state

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How to PlayFill in the grid so that every horizontal row, every vertical column and every 3x3 box contains the digits 1-9, without repeating the numbers in the same row, column or box. You can’t change the digits already given in the grid. Every puzzle has one solution.Hint: Don’t fill in numbers at random. While filling a particular square, write numbers 1-9 on a pad and start eliminating those numbers that already appear in the same row, column or 3x3 box.

SuDoKu

For more similar puzzles, visit:www.sudoku.com

ANSWERS

GLOBESCAN

1. c 2. b 3. a 4. c 5. d

6. a 7. c 8. b 9. b 10. b

11. d 12. a 13. b 14. d 15. b

16. a 17. b 18. a 19. d 20. d

21. c 22. a 23. c 24. b 25. a

26. d 27. b 28.c 29. a 30. c

31. a 32. d 33. a 34. b 35. c

WORD DOSE

government that has signed the MoU.

a. Tamil Nadu b. Delhi c. Maharashtra d. Karnataka

31. Boutros Boutros-Ghali, former secretary-general of the UN, passed away at the age of 93. He belonged to which country?

a. Egypt b. Saudi Arabia c. Oman d. Sri Lanka

32. Recently, this country has decided to sell eight nuclear-capable F-16 fighter jets to Pakistan. India expressed its disappointment with the decision of this country. Name the country.

a. France b. United Kingdom c. China d. United States of America

33. Which state of India is also known as the ‘land of the dawn-lit mountains’?

a. Arunachal Pradesh b. Manipur c. Nagaland d. Mizoram

34. The Indian Institute of Petroleum and Energy has been established by the Ministry of Petroleum and Natural Gas, Government of India. Name the city where it has been set up.

a. Indore b. Vishakhapatnam c. Kochi d. Hyderabad

35. The West Bengal Government has recently launched the Utkarsha Bangla scheme. What is the purpose of this scheme?

a. To promote organic farming

b. To stop human trafficking c. To train school dropouts

d. To promote entrepreneurship among women

1. p 2. i 3. e 4. f 5. l6. a 7. g 8. b 9. h 10. m11. r 12. c 13. d 14. q 15. j 16. o 17. k 18. n

a mba march2016

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