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The Perspective
IMT....Lead the Future
January 2011
Corporate Communication and
Media Relations Committee
IMT Ghaziabad
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With every New Year come new challenges, new opportunities and new ideas. It's critical to
reassess one's goals, objectives and strategies in order to keep pace with the changing nature
of the world in order to remain relevant. IMT and its students are no exception.
Its true when we say that Leadership is not in our curriculum its in our philosophy.
We learn not only from our esteemed faculty but also from the way things work out in IMT.
To address the requirements of today's environment, education, advocacy and standards are
continually served by the students of this institute. This premier institute can gladly boast of
17 committees and clubs as a part of its family. Year 2010 saw an enormous number of
events being organized by such committees.
If the sports committee was trying its best to keep the students fit with its plethora of events,
our mess committee was not behind in testing the culinary skills of our students with its
Mess day.
IMT consistently strives for the best as was seen in the two successful events Marketing
World Cup and Start up fair being organized by Mark up and E cell respectively. These two
events garnered huge appreciation and pride of the students. Our college fest passion was
unmatched in its appeal and performance.
Last but definitely not the least, we are happy to announce that from this year onwards we
shall be including the activities of PGDM (executive) programme in all our issues. Their
valuable support and experience will be our guiding light.
We hope this year brings you good luck and happiness. We really look forward to your
feedback to make this newsletter much more enjoyable and entertaining.
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Index
Article Page No
Editorial 2
A walk with our faculty 4-7
A world of diversity called PGDM-
Executive @ IMT
8-9
Bridging the Gap 10-11
Connexions 12-15
League of Titans 16-17
Pearls of Wisdom 18-19
MFIs in India 20-22
Chakravyuh XI 23-25
Life @ IMT Ghaziabad 26
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A walk with our Faculty
Dr. Sita Mishra is a strong proponent of andragogy as a prerequisite for
developing educational leadership through efficient academic delivery.
She has more than 15 years of experience in industry as well as
academics. At present, she is working as an Associate Professor in IMT,
Ghaziabad.
Her research interests include consumer behavior, marketing
communication, retail marketing and brand management. She has published more than 40research papers in international/national journals/book chapters and presented papers in
international/national conferences, besides being on the reviewing board of a few.
Dr. Sita Mishra has conducted a number of Executive and Faculty Development Programmes
in the area of retail management. She is currently Chairperson -Executive and part time
programmes at IMT.
Excerpts of the interview, her take on PGDM Executive Program
Q 1: How long you have been associated with IMT and how is the experience teaching
in IMT?
Ive completed four years in IMT. Teaching in IMT is a fantastic learning experience. IMT
focuses not only on teaching but it also emphasizes research, training, and consultancy. It
provides avenues for faculty developments. Faculty members can pursue research and
knowledge co-creation without any interference.
Q 2: What are the subjects you are teaching here?
My area of specialization includes retail management, consumer behavior and brand
management. Apart from this I take core marketing courses for first year students.
Q 3: Which is the thing you like mostabout IMT?
As a faculty, the best think I like is academic freedom which entails the freedom to engage in
the entire range of activities involved in the production of knowledge, including choosing a
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research focus, determining what to teach in the classroom, presenting research findings to
colleagues, and publishing research findings. IMT provides full support and committed co-
operation in actualizing these pursuits.
Q 4: What is your take on PGDM (Executive) program of IMT?
PGDM (Executive) programme of IMT is a 15 months specialized course for working
professionals which provides diverse learning opportunities in a short span. This programme
enables these professionals to augment their careers and growth prospects. This course is
apposite for professionals who feel the need and the significance to continuously reinventing
themselves with the aim of keeping up with the dynamic global economic scenario.
Q 5: What was the motive of IMT starting the executive MBA program?
Keeping in mind the significance of continuing education for working professionals, IMT has
started PGDM (Executive) programme, so that these professionals can upgrade their
managerial skills for handling the challenges of real business world in better ways. The
course enhances their analytical and decision making skills so that they can efficiently deal
with various aspects of business and handle roles and responsibilities of senior management
effectively.
Q 6: Why only elite B schools are offering this course in India?
The level of knowledge and experience that these working professional bring into this
programme makes it different from the two years MBA programme. In India, only selected
few B-schools identify the requirements of working professionals in better ways and are well
equipped in terms of intellectual capital to handle these professionals. These institute can
design and customized course as per the requirements of these working professionals and
industry.
Q 7: Do you think India should have more institutes running executive MBA program?
Yes, keeping in mind a large no. of working professionals who are interested in upgrading
their managerial skills to handle various challenges in this global scenario.
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Q 8: Initially when IMT started this program it was an 18 month course, currently it is
a 12+3 month course. Would you suggest for 12 month program since most of the
institutes follow one year model?
To me, additional three months period wherein the students are required to accomplish
industry specific project is an USP of IMTs PGDM (Executive) programme.
Q 9: What is the perception of the corporate world regarding executive MBA program?
In corporate world, this programme is highly recognized. Given the value creation of this
programme, government and private sectors are sponsoring their candidates for the same and
collaborating with premier management institutes to design the specialized course for their
employees.
Q 10: Being Area Chair of this program what would you recommend to enhance the
visibility of this program?
PGDM (Executive) programme is catering to specialized needs of working professionals
who are coming from diverse organization and with rich functional experiences and
knowledge of working of corporate world. The visibility of this program can be increased
through different steps such as increasing the industry interaction face in terms of seminars,
invited lectures from senior executives of organizations, live projects and strengthening the
alumni networking. IMT has taken many of these steps; we need to do them on more frequent
basis.
Q 11: How different are the students between Executive MBA and two year MBA?
For two year management students having work experience is optional but for PGDM
(Executive) it is mandatory. These students share their work experience across differentstreams and industries in class-room discussion which adds value to their leanings. These
students understand the relevancy and importance of various issues in a better way.
Q 12: What method of pedagogy the institute employ to bring the best in both the
course?
In IMT, the learning model encompasses a broad ground of concepts with case studies and
real life projects. Apart from this, IMT focuses on students exchange programmes with
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reputed B-schools worldwide to enable student develop cross cultural insight and perspective
for the better understanding of global business.
Q 13: When most of the Executive programs in India offer General MBA, What makes
IMT to offer electives across all verticals so effectively in such a short span?
By offering electives across all verticals IMT provides opportunity to specialize in single or
dual areas which helps students to strengthen their prior knowledge or facilitates them to
amend their career.
Q 14: Anything would you like to say about current the batch?
I think a few qualities are common in our PGDM (Executive) students- sincerity, rigour anddiscipline. My best wishes for their future ..
BY ARUNENDRA PANDEY
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A world of diversity called PGDM-Executive @ IMT
The new mantra to an exhilarating MBA experience at IMT-Ghaziabad is assortment or
diversity. Having completed half the journey of my PGDM-Executive program, I have learnt
to put myself in the right frame of mind: success inspires success. Not only is the outcome of
pursuing Executive MBA thrilling, but the journey itself is elating and life-changing. I aspire
to complete this journey as a wealthy folk; not only in terms of subject matter proficiency,
but also because of the networking with some of the best brains who will become part of my
network for years to come.
The Executive MBA is an exciting journey not only because you are back in the classroom
revisiting business fundamentals and picking up new skills, but also because you are
constantly working on group assignments and case studies with participants from diverse
backgrounds. The PGDM-Executive class of 2011 has people who are from sales, marketers,
engineers, financiers, entrepreneurs, mid-managers, senior executives. The sheer experience
of working with such a diverse set adds many perspectives to what we do and how we do
things.
The core focus is on soft skills, which in point of fact are not so soft. But since, case studies
and presentations are the pedagogy at the PGDM-Executive program at IMT, the person gets
more comfortable in standing in front of the entire class, having an experience range of 5 to
18 years, and giving those creative presentations. Not only do you present but you also raise
your opinions as a group leader. This process increases self-awareness and creates personal
action plans which can be transformational. The one year duration of the program makes time
management of utmost importance for the participants. The courses just come and go and at
times you feel as if getting bombarded with mortar shells. It is the subjective opinion of an
individual that which stream of business excites him to the core and which courses he would
like to opt in turn.
Howsoever difficult the program may be, it has turned out to be a joy ride so far. The
journey that started with a dilemma at the time of applying for this program, whether leaving
employment at a stable point of 5 years in the industry, has been transformed in a decision
that could be life changer.
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I could have given up on my dream and gone back to the security of a successful career in the
Telecom industry. But if I had done that then, I wouldnt have had the pleasure today of
knowing that I have helped in the fructification of many unique and worthwhile ideas which
might otherwise have died in the many-a-time unequal struggle against the vagaries of the
government and economy. And I certainly wouldnt have had the pleasure of being invited by
the editor of the prestigious IMT newsletter to pen my experience before you!
Its also about the pursuit of glee and accomplishment. In short, carry the spirit of IMT with
you - always.
Submitted by: Ankur Girdhar, PGDM-Executive (2010-11)
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Bridging the Gap........
It all began with the storm of appraisal process when my Manager said I dont see any
outstanding achievement for a promotion this year but I would like to give you more
responsibilities, more growth in terms of work and definitely I hope you will exceed my
expectations as you always have. As each year of my work life passed by I was expecting
things to happen, but this year I have decided to let this storm become a Tsunami inside me
and change the things the way I wanted it to be. The relief came at big time in PGDM-
Executive, IMT-Ghaziabad where my dreams of being a future leader came live.
A batch of 60 students having 5 to 17 years of experience from diverse backgrounds and
masters in their domains was around me for the next 1 year to seal the world. Already I
started hearing the talks of various sectors, varied companies, and how exactly the process is
executed in retail chain to a core manufacturing unit. Being a software guy, sitting in an AC
cubicle I was excited to hear to those shop floor happenings, auto parts designing and telecom
structure complexities. I said to myself in my Heart, Dude, you are at the right place.
Executive MBA curriculum gave me the idea of learning the practical perspective by relating
to my past work and analyzing it. From Group presentations to case study discussions, every
person has his own way of shaping the things meticulously and its been a wonderful journey
when compared to what I would have been doing in the same work environment, doing
impassive work.
My passion had no bounds when I started liking Marketing. I never knew that there was
something like Consumer behaviour which plays an important role for any company to
strategize its theories. I have decided to do a Marketing majors and dared to compete in
various B-school competitions and to my delight I won an IIM- Lucknow Marketing Event,
where my unconventional and offbeat promotion strategies were rewarded. I realized the
effectiveness of case studies and the discussions we used to do in the class which made my
thought process run an extra mile.
Gone are the days when the Executives were not seen in the Cricket ground, Badminton and
Tennis courts. IMT has a wonderful campus to pursue all the interests which I have never
ventured. This reminded me of my HR once saying in the company Always balance your
work life with your personal life because you never know one can eat up the other. To be
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frank, there was very less scope of balance in corporate life for me but true to heart I have
been following it since the time I have stepped in to IMT.
Having covered half of the journey and destined to phase out the remaining in next 6 months,
IMT Executive Program has been a learning experience so far and I want this to continue in
the future as well, feeling that the learning curve should never end. It has been a privilege
since I was able to strike a balance that is so diverse in its disciplinary focus yet inherently
bound together by issues that are fundamental to bridging the gap between theory and
practice of doing research. I would like to be a next generation Entrepreneur and this gap has
given me immense strength in terms of knowledge to face the world confidently.
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Connexions
To be a successful strategist, you got to keep your head in the sky, but feet on the
ground, was one of the spellbinding quotes delivered by the power speakers at Connexions
2011. The weather was perfect and vibrancy was at the vanguard on the morning of January
22nd, 2011 as the roads led to Kapil Mohan at IMT Ghaziabad. After all, it was the time for
Connexions, the annual industrial conclave of PGDM-Executive program of IMT,
Ghaziabad. The theme of the summit was one of the most relevant topics for future managers,
Turning strategies into results, on which a panel discussion was hosted. The esteemed
panelists included corporate honchos from different industrial spheres, and the diversity they
represented is reflected below.
Keynote SpeakerMr Aquil Busrai
CEO Aquil Busrai Consulting
Former Executive Director Human Resources,
IBM
Panel 1 Panel 2
Moderator Moderator
Dr. Omkumar Krishnan Mr. Rajat Gera
Associate Professor, IMT Ghaziabad Associate Professor, IMT Ghaziabad
Panelists : Panelists :
Mr Aquil Busrai Mr. Chander Sabharwal
CEO Aquil Busrai Consulting Director, Oriental Bank of Commerce
Former Executive Director Human Resources,
IBM
MD, Crop Health Products Ltd
Mr. Naveen Luthra Mr. Suresh Tiwari
Vice President - Strategic Alliances Founder and CEO- Corporate Spectrum
GETIT Infoservices
Mr. Amit Roy
Mr. Rohit Sinha CFO NIIT Technologies
Head HR, L&T- Faridabad, Delhi NCR
Smita Sondhi
Head CSM- Symbiotic
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The lamp was lit by the director, Dr.Bibek Banerjee and the panelists. In his speech,
Dr.Banerjee emphasized on the need to distinguish between the mindset of planning and
execution. He cited the case of a batsman in cricket who has various strategies in mind while
the bowler is running towards him. But it is his execution that fetches him maximum rewards
and brings him to the record books. Thus, preparing strategies is a core ingredient of the
success story, but of utmost importance is to choose the best alternative to achieve the desired
result. Turning strategies into results, is at the top of minds during discussions at
headquarters. Nobody wants to share the jealously guarded success formula, as optimum
strategy has been the differentiator in leapfrogging ahead of competition. It has never been
more difficult than it is in todays volatile environment. The executives not only must beagile in responding rapidly to changes and dynamics in the marketplace, but also must align
and adapt their organization to actively produce the desired results in an uncertain business
environment.
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In the panel discussion, Mr.Busrai reminded everyone of the stark reality that in
organizations, strategy goes hand in hand with seniority. People who have been with
organizations for years and have got higher experience are believed to be good strategists.
Though it is true to an extent but keeping the enthusiastic minds at tactical and operational
levels away from strategic decision making is about marginalizing them. Disconnect between
operational planning and organizational strategy is harmful in the long run. According to him,
strategy is about things which are unseen and unforeseeable. This is the reason that Shells
international scenario planning has always been doing well in forecasting. This is a team of
diversity that plans and anticipates what could happen in the coming 20 years. The breakup of
USSR into independent states was predicted in the scenario planning in 1978 and it is
because of this that Shells plant at Sakhalen in Russia was re-operated with in 3 weeks ofsplit. The team had strategized and contingency planning was already there in the record
books. Companies fail as they dont learn from the market signals and thus need to challenge
what is happening at present and adapt accordingly.
The winning formula by Mr.Luthra consisted of aligning yourself with the following three
dimensions; the 3 As.
i.)Action: Torchbearer and most critical part of strategy
ii.)Adherence: Time bound action plan i.e. faithfulness in a process
iii.)Accountability:End to end ownership
Documenting the backup plan is a noteworthy aspect of execution.
A thought provocating point put across by Mr.Sinha was the importance to understand the
whyness of the cause i.e. the logic behind your action, and not its whatness i.e. merely the
operational task in hand. According to him, self trust is the most important aspect of turning
strategies into results, as a confident leader is the one who leads by example and in process
gains support of his peers and subordinates. His mantra was to aspire to be an alchemist.
The house was mesmerized by the power talk of Mr.Sabharwal. He stated that the strategy to
be adopted should be the one whose present value of future returns is measurable and
quantifiable. Strategy, according to him, is not a rocket science but a bottom up approach of
getting the fundamentals correct. It is about preparing the grass root solutions that help to
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map the future. On the same lines, he stressed on the need to introduce anticipatory
management as a subject in business schools. As per him, aligning strategies with
organizational values and percolating it down to the lower levels so that everyone is focused,
is of paramount significance.
In sum, the conclave was an incredible value addition for the participating student managers.
It enticed them to nurture strong beliefs to be carried forward to the corporate arena.
Everyone appreciated the fact that planning coupled with meticulous execution is the way
forward for a falcon to move ahead, unperturbed.
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League of Titans: Aces High and Shuttle Up
As the year drew to a close, so did the League of Titans (LoT), a five-month long sports
competition organized by the Sports Committee,IMT-Ghaziabad. In case you havent been
following the competition , LoT is a section-wise sports competition that includes both the
batches.
After the success of football, cricket, table tennis and throw ball matches , LoT saved its best
for the last events. Nail-biting finales, unbelievable intensity, incredible crowd support and a
good run by the minnows characterized the last few events.
Basketball has always been a glamorous sport, and it further cemented its reputation. The
final of the Basketball event, Hoop La, between favorites B1 and the challengers IB, was
the icing on a truly memorable cake. It started with a display of fireworks, but who would
have thought the real fireworks were yet to be seen? The general perception was that
defending champions B1 would steamroll any team in this tournament with players like
Apoorv and Abhishek in their team. Although the result was expected, any number of
accolades that IB received for their fighting spirit could never be enough. In the tight game,
the score read 33-32 in favour of B1. Apoorv Sharma, stepped up and sunk in two back-to-
back 3-pointers to stretch B1s lead to an unassailable one.
While the champions were B1, Rahul Anwala from IB was the major reason of his teams run
to the finals and an almost-win situation. He was rightly judged the Player of the
Tournament. One of the earlier matches of Hoop La saw sections A and G play the match
of the tournamentgoing into overtime at 25-25. Section G held their nerve , and came out
as winners 27-25.
The Sports Committee simultaneously organized the last two events which were Badmintons
Shuttle Up and Lawn Tenniss Aces High. Badminton has always been the most popular
sport to be played in IMT with the courts rarely empty at any point of time and the standard
of players better than the that of players in other sports. It wasnt a surprise that it was a real
crowd puller, a tense affair and characterized by closely fought contests. On the other hand,
due to the location of the tennis court and space constraints, Aces High came about
relatively quietly though brilliantly.
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One thing was common between the two tournaments. Shuttle Up final saw the best players
in college involved in a head-to-head clash in the final, while Aces High saw an epic final
that summed up a wonderful sports competition in a grand way.
The Shuttle Up final was contested in the dawn by B2 and B3. The most eagerly awaited
match of the tournament saw Nishant coming from one set down to beat Sushant. That set the
tone for the final, and Rahul and Renuka from B2 wrapped up the tournament in the next two
singles .
The final of Aces High saw the first junior section A, to enter the final of this seasons LoT.
They were against hot favourites B1 . The key match of the tie was Akash vs Atmdeo.
Although Akash raced to a huge lead and was on the verge of a win, Atmdeo made asensational comeback to win it after a nail-biting tie-breaker. The rest of the matches went to
both team alternately in a topsy-turvy final, but the mixed doubles pair of B1 overpowered
their section A counterparts to wrap up a memorable final. Akash Jain was adjudged to be the
Best Emerging Player of The Tournament and his bold approach almost paid off in the final.
With IMTs trademark sports event, Chakravyuh 2011, around the corner, the LoT was just a
prelude to some great heroics by the sportspersons at IMT Ghaziabad.
The same faces will definitely be in amidst the action come February 11, 2011. This time,
though, they will join hands to fight other b-schools in an attempt to become the pride of
IMT.
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Pearls of Wisdom
The Annual Conclave of PGDM Executive, IMT-Ghaziabad
On the windy and foggy morning of January
8th, 2011 all roads led to Kapil Mohan at IMT
Ghaziabad. It was the time for the Pearls of
Wisdom, annual alumni summit of PGDM-
Executive program of IMT, Ghaziabad. The
theme of the summit was 3 BL (People, Planetand Profit): Strategy in the new era, on which
a panel discussion was conducted.
The esteemed panelists had a diverse
representation going back as far as to Mr.
Rajesh Sehgal, from the pioneer batch of the PGDM-Executive program. Mr. Sehgal is COO,Caretel Infotech Ltd. To grace the occasion were Mr. Pronoy Dutt, Lead Resource- People &
Organization Development at Costa Coffee (India), and Mr. Ashish Gupta, General Manager
at VSK Associates, Delhi. Our Batchmate Mr.Sunil Prabhu, Formerly Group Project
Manager, Infosys was also part of the panelists.
The discussion was moderated by Dr. Om Kumar Krishnan, associate professor of Marketing
Management at IMT, Ghaziabad. The lamp was lit by the director, Dr. Bibek Banerjee and
the panelists. In his speech, Dr. Banerjee enlightened us about his stints at Coca-Cola. There
leaders were not only intellectually and rationally motivated but also inspired to connect with
3Ps (people, planet, profit) as they connected with finance .According to him, if India andChina were to live the way the U.S. lives ,then perhaps we would require another planet to
dispose of the waste of sorrow and unhappiness. According to the dean academics, Dr. R K
Chakraborty, people are the human capital and the profit they create is their economic value.
It is of utmost importance, that this value is engendered in a standardized, globally accepted
manner.
Triple bottom line is a term widely in use in industrial arena today. It captures an expanded
spectrum of values and criteria for measuring organizational (and societal) success in terms
of economic, ecological and social . The esteemed panelists came up with varying line of
thoughts on this theme. Everyone agreed on the pale fact that exploitation of humans brainshas set into the minds of
the people. Mr. Rajesh
Sehgal quoted the example
of handkerchiefs having
given way to paper
napkins, but no active
units for recycling those
used napkins. The short-
sighted profit approach
has been the key factor for
majority of the companies
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where they have neglected the importance of sustaining the planet. The stark reality that cameout as a result of the discussion was that 44,000 million hectares of green forest land has been
destroyed for peoples needs. Here, the thought given by Mahatma Gandhi, Mother Earth
has given sufficient to cover everyones needs but not enough to cover even a single persons
greed, is a best fit.
A thought provocating question raised by one of the participants was whether it is possible
for such a huge population to sustain without exploiting the natural resources. One of the
panelists answered it beautifully by saying, Yes, I agree that it is not possible but the human
minds have to acknowledge the fact that you should do what you are best at and leave the rest
as an opportunity for others, at which they are best at i.e. recycling the waste. This will
gradually reduce the use of natural resources as inputs for industrial processes.
Mr. Ashish started the discussion by stressing that the top most priority of a sustainable
business is profit. The need of the hour is to innovate in order to connect people and planet.
The companies should not only focus on the tip of the iceberg i.e. tangible financial benefits
but also the huge intangible benefits of green environment. According to him, sustainabilityis a differentiator at present but a license to operate for future.
The house was on fire when Mr.
Anurag compared the human
desires with FM radio. According
to him, the most widely heard FMnowadays is WIIFM -- Whats
in it for me? It demonstrated the
materialistic tangible benefits
overpowering the social benefits
of adopting sustainabledevelopment. Greed, according to
him, is the catalyst that drives
future growth and also caters to
the needs of the future
generations. He strikingly
illustrated that it is our parents greed to sustain the green environment that has enabled us to
live a happy life and now we have to carry the baton forward for our future generations. Mr.
Pronoy said profit is important for any industry to survive but corporate social responsibility
is a great opportunity to give back to the society for future business.
Over all, the event was a great success and hugely appreciated by one and all. The batch isenlightened and enthused by the Pearls of Wisdom shared by eminent panelists. Everyone
appreciated that sustainability is a never ending journey on the path of happiness and
prosperity.
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MFIs in India
The burning topic of todays time had its roots in the Indian economy since 2004 when the
Saritha Foundation started the microfinance schemes.
Globally a total of 1905 microfinance institutions are present of which 148(the registered
ones) are present in India which accounts to approx. 7% of the total (source: mixmarket.org).
So a handful of 148MFIs caters to a borrowing population of over 25 million. MFIs charges
around 24-30% but after the regulation the maximum rate they can charge is 24%
Now the onus lies in the hands of Government to decide the regulatory bodies. If RBI is
given the responsibility of regulating then keeping a check on their transactions will be atough job for them, especially when they have the mammoth task of tackling inflation. If the
responsibility is taken by the State then these MFIs will not have a centralized system.(Rules
will vary with the State) Furthermore, in India we also have a problem of Money lenders,
who have direct contact with the farmers and charge very high interest rate
First of all we need to clarify the basic difference between the two.
Difference between them is
1. The rate of interest which is by far much more in later case. So whether it is to beregulated by RBI or by state or some external agency is to be decided to provide with
the regulatory authority.
2. The MFIs loans are unsecured whereas the moneylenders usually lend against somesecurity in the form of land or cattle.
3. Moneylenders use their own funds whereas MFIs leverage borrowed funds.4. Usually MFIs do not employ gundas , its the moneylenders who employ them to
recover the amount forcefully.
5. Moneylenders are regulated by State Money Lending and Usurious Loans Laws,which states that the interest charged cannot exceed the principal amount. Whereas
the rate of interest guidelines in case of MFIs are done by RBI.
.
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Lets go through the money lent by MFIs- 85 -90% of the MFI costs is returned back to the
bank, then some operational expenses are taken out of the rest of the amount along with a
meager profit. It has to cover the risk associated with the defaulted loans, an army of sleuths
to get back the money from the borrowers and with the 24% binding over the interest rate it is
too difficult for the MFIs to sustain.
The current outstanding balance is over 8000cr. If central bank is thinking of closing down
these MFIs it would add to their CAR(capital adequacy ratio which might rise above the 9%
mark). This will affect the present market condition of the bank . Even with the so called
MFIs stating to have an average return rate of 99%, the govt. and RBI are of the view that
not more than 60% is returned back which is a very less figure compared to the loan amount.
Now coming to the topic of rural India, its a highly opportune time to capture this market.
Many companies (like HUL, Airtel etc) are trying to step into this market. Similarly even
Government is of the view that there should be some banks to start operating in these areas..
Recently RBI has come up with a new guideline where it will bear the burden of the
operating cost ofany banks branch in rural sector for 2 years and the branch will get a tax
waver for 5 years. Along with this we need to take into account the marketing cost,
employees cost (which will obviously be charged higher for the rural sector) etc.
Furthermore, MFIs and moneylenders have already captured the market. So they have the
first mover advantage. To penetrate the rural market, the banks will take atleast a decade or
two. A proper strategy has to be adopted to ensure sustainability and success.
Now if the RBI regulates these MFIs in accordance to their need then many purposes will get
solved. Firstly, these MFIs can act as a subsidiary. So giving them the banking rights will
help them to build a stronger base. They will fall under the RBIs guidelines and so in this
way RBI will not have its power cut short and the banking sector can reach the rural India.
Furthermore, already the Banks have given a debt of over 8000cr to the MFIs. On building a
new establishment in the rural sector will ultimately increase the liabilities in their balance
sheet. And not to forget, if the banks fail in their strategy (of building banks in rural) then it
will further shoot up the debt component. Supporting MFIs may not have that risk or at least
the add on risk. Moreover, the way the bank is offering the other banks to land in the rural
sector (in the form of tax evasion) is severely going to affect the liquidity of the system.
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Through this way, it would be easy for the Government to throw out the illegal moneylenders
and make it an organized sector.
So if given a roadmap along with directions these MFIs can be a blessing in disguise for the
rural sector. Also the burden of the Government to develop the rural sector will get fulfilled.
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Chakravyuh XI
In 1993, deriving its name from the roots of Indian history
symbolizing the very intention of its inception competition,
bravery and glory - an event in its infancy made it into the
academic calendar of IMT Ghaziabad.
18 years on, becoming the envy of over 30 participating B-
schools, an attraction to over 50 participating alumni each
year, that infant has grown to the Big Daddy of B-School
sports events.
IMT Chakravyuh isnt just any sports event. It is literally a 72 hours non-stop celebration of
a long-lasting culture at IMT Ghaziabad; an encapsulation of a tradition of unrestricted
boldness, indomitable spirit, grand organization and a hunger for healthy competition.
It is a blend of intense round-the-clock competition producing a war-like atmosphere, off-the-
field events testing your sporting intellect, entertaining activities revisiting the air of
childhood and DJ nights providing a festive ambience. It remains the ultimate test of an
athletes skill, stamina, passion, strength, agility and the ability to endure pressure and come
out victorious.
To be a part of Chakravyuh a team of 25 players has to be formed in a way to target the
trophy and the evaluation will be based on a points system. While it seems simple and
straight-forward, the amount of strategy that goes into the formation of a team is nothing
short of an ordeal.
For IMTians, mission Chakravyuh usually begins five or six months prior to the big event.
By then, team captains are already running around to recruit players for their teams while
players have multiple offers from different teams to decide upon. First-mover advantage,
formation of cartels, players jumping ships between rivals and the use of marketing concepts
to sell your team - Chakravyuh witnesses all these elements of the ruthless competition of the
business world.
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Apart from a fixed number of teams from IMT Ghaziabad, the mega event hosts teams from
B-Schools such as IIM Bangalore, IIM Lucknow, MDI, IIFT, MICA, SPJAIN, FMS, IIT
Kanpur, IIT Delhi and several other top B-schools in India.The team composed of alumni,
IMT Ghaziabad also graces the occasion.
While the bells of success of last years Chakravyuh still ringing throughout the Indian B -
School community, this year the Sports Committee of IMT Ghaziabad plans to take the event
one notch higher. The uniqueness of this event will further be enhanced by the introduction of
activities like Paintball and Betting Station. So, while the extravaganza is all about sports and
sportspersons, Chakravyuh 2011 will make sure it serves the people who miss out due to the
cut-throat competition.
Chakravyuh XI will also have a huge cash prize for best marketing thus, laying the
foundation for all the teams to express, innovate, improvise and paint this event in their own
style to make it even more special.
In addition to all this, Chakravyuhs online competitions and promotions have already started
in the beginning of the year, on its facebook page:http://www.facebook.com/Chakravyuh11
It promises to be another significant milestone in the competitions eighteen-years rich
history. It is a legacy that each and every IMTians is proud of and looks up to. From Feb 11-
13, 2011, IMT Ghaziabad throws down the gauntlet to all competing B-Schools
You may have run a marathon, but can you run a Chakravyuh?
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Chakravyuh Mascots
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Life @ IMT Ghaziabad