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VOLUME 5.14
ISSUE 100
OctOber 14, 2011
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I congratulate the Chaanakya team as they release their 100th issueon the 14th October 2011. It has always set itself as a good example
to all Departments of Christ University in terms of its content and on
time delivery.
I also congratulate the Finance department which has always stood
out in the various activities that they conduct everywhere.
r. (Fr.) Thomas C. Mathew
Vice Chancellor
Words of en
Finance department has always been the one which has been seri-
ous to nd balance between the curriculum and the co-curricular ac-
tivities. Finance team, to their credit has their fortnightly magazine
Chaanakya too. The punctuality of this magazine to hit the mails on
the correct date irrespective of exams or else is a fact of apprecia-
tion. The newsletter stands as an epitome of dedication and sincerity
which has been transferred to the batches year after year.
I congratulate Team Chaanakya and the nance club coordinators for
the 100th issue of the nancial newsletter Chaanakya.
Fr. Thomas T. V.Director
Finance Club has been very active since its inception and it is one fo-
rum where it has been found that there is total participation of all the
students. Finclave is conducted every year to celebrate the milestones
of its newsletter Chaanakya. This year, Finclave commemorates the
100th issue of the newsletter. Chaanakya, the magazine of the Club
is one of the best on Campus, hitting about 12000 mailboxes every
fortnight punctually since its inception in September 2007.
Best wishes to Team Chaanakya for its 100th Issue.
rof. C K T ChandrasheksraHead of Department
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Food is the foremost necessary item for life. Money, property, gold
,silver , jewels and pearls cannot satisfy human hunger. That is why
food grains are called synonym of richness. An individual arranges
food for family while the ruler may manage for the whole state. For
food, it is necessary to give importance to agriculture and farmer.
Also the means of irrigation like canal and dams may be constructed
. In modern age, using the best of the technique more and more food
should be grown so that nobody may shortage of food. In the absence
of proper distribution also, supply of food appears to be short. It is
the administrators duty to manage it properly.
ChaanakyaOur Sole Inspiror
The Finance Club of CUIM has always stood apart from its counter-
parts. Continuous improvement is always visible in all their ventures.Finclave is the nance fest conducted annually to encourage partici-
pation of all junior students in the diverse eld concerning nance.
Best wishes to Team Chaanakya for its 100th issue which will be
released in Finclave 2011. Prof. (CA) J. SubramanianRegistrar, Dean(Commerce
and Management)
Chaanakya is a journey in my view. It takes you through several
learnings. It brings you together. It makes you to adhere to deadlines
and to quality. It provides you an opportunity to exhibit your talent in
writing about the issues that would interest you, especially in the area
of nance. It is a joy at the end of the hardship. It is pride for all of usthat Chaanakya; the nance newsletter is celebrating its Centennial
issue. On this occasion, I desire that each and every student of Christ
University Institute of Management, contributes to Chaanakya in one
way or the other, and takes along a wonderful memory which they
will cherish forever during their lifetime.
Prof. T S Ramachandran
Faculty Coordinator
couragement
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The day for which all of us at Wealth Incorporation
(Finance club of CUIM) have been awaiting has nally
arrived - the release of our centenary issue of Chaanakya.
When this newsletter was handed over to us by ourseniors, we became a part of the legacy Chaanakya.
Having successfully completed the 100th issue, we are
proud to be a part of history and we are sure there will be
many more milestones to celebrate in the future.
It was intimidating because of Chaanakyas reputation of delivering
quality articles and always releasing on time regardless of circum-
stances. However, a team of well informed writers and creative de-
signers ensured that we not only lived up to the expectations of thereaders, but have also raised the bar with every issue. To meet the
quality standard that Chaanakya is known for, the team had a well
dened structure with clear roles and was led by two editors who took
care of alternate issues.
This year we introduced two new sections Investors focus which gave recommen-
dations on buy and sell using technical analysis and Book review in which a nancial
novel is reviewed. Chaanakya is growing and reaching the mailboxes of more alumni
as well as students and faculty members of both the campuses. Regular feedback and
opinions from readers have always been a motivating factor reminding us of the need to
improve the magazine on a regular basis and encouraging us to aim for greater heights
each time. In CUIM, Chaanakya is known to be on time, every time as we have en-
sured the release of the newsletter on the 1st and 16th of every month without fail.
Chaanakya has helped the nance students to understand some of the summer intern-
ship projects undertaken by interviewing students about their internship experiences. It
also created a sense of excitement among the readers through the crossword and quizsections at the end of the magazine by acknowledging winners in the next issue.
Working for Chaanakya has always been challenging and interesting. Now looking
back, we are impressed by our work as a team that has yielded results, kept promises
and exceeded expectations. As we hand over this to our juniors in few months, we are
going to miss working for Chaanakya, but are condent that Chaanakya will break all
barriers and reach greater heights.
editorial
Apoorv JhudeleyRajat Sikri
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Our Future rOadmapWelcoming revolution with open hands,
Chaanakya is a ne example of dynamism in theever-changing environment. With many ideas
in the brewing, the Centenary issue is trying to
bring forth certain ideas for the widening of the
perspectives of the Chaanakya Newsletter.
Chaanakya is one of the most organized News-
letter of Christ University Institute of Manage-
ment in terms of the content and the nancial
issues it covers across the sphere; it was a daunt-ing task for the next level of thinkers to redene
Chaanakya with already what it is presently. In
such a case we would really thank and congratu-
late our seniors for their fruitful efforts in mak-
ing what The Strategist Newsletter today is!
Our future road map for Chaanakya includes:
Readability: The newsletter is full of con-
tents which are of utmost importance in
terms of understanding and informationprovidence but still it fails to attract readers.
In order to make Chaanakya more readable
every fortnight, there would be a TEASER
PAGE which will be released a day before
the newsletter releases i.e. A page that con-
tains the title of the articles or the topics
which will be covered and the picture of the
recent topic happening in the nancial world.
SMS to Club members: To increase our read-
ership, Student, faculty and other members
would receive SMSs with the highlights of
the issue, fortnightly, after the release of
Chaanakya.
Reachability: In order to increase readership
base we have to involve classes to contribute
articles for the newsletter. We cannot make it
mandatory but can always create a special
space in the newsletter applauding the class
which contributed the most in the issue of
the newsletter with the authors pictures. It
not only creates a better awareness among
the sections regarding Chaanakya but also a
healthy competitive spirit to outdo the other
sections in terms of content richness in the
issue.
Research Papers: We would be provid-
ing links of the Website of the Chaanakyanewsletter archive where the readers would
be able to upload research papers of their
choice. This would act as a forum for the
members, which can help them in their cur-
riculum as well as in their career.
Column on Case Study: We would try to in-
clude Financial case studies in every issue
like quiz and crossword.
Mention of Winners of previous issue: Last
year we encouraged our readers to send the
solutions of the quiz, crossword and case
study. The Winners and their answers (of
each issue) were acknowledged in the suc-
ceeding issue. This year we would make
the newsletter more interactive and which
would be helpful in arousing curiosity
among the students.
Letter to the Editor(s): The readers would
be given an opportunity to send letters to
the Editor(s) on the articles of previous is-
sues. The best views and opinions would be
published.
Pragathi P.
Apurva Gupta
Aparna Raj
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Retrospect 01
Swift Shift of the Easterly Winds 02
Major News Highlights 08
Value Addition at Finance Club 10
Journey of the Economic Numbers 12
Analysis of our Investor Focus 14
100 and its Peculiarity! 16
A Word with Previous Editors 17
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RetRospect
The 100th issue of Chaanakya is a retrospect of its journey over the past four years and highlights
some of the trends and changes that have occurred and those that will continue to develop. Chaanakya
is the fortnightly nancial newsletter dedicated to everybody enthralled by the world of Finance.
Chaanakya which started its publishing as a fortnightly newsletter in 2007 in response to the explo-
sive surge of interest and activity in the nance department is now one of the most reputed newslet -
ters of CUIM. Tracking the economy closely and watching its markets gain and tumble, the magazine
enlarges the view into general occurrences through a small window. Nothing has changed! We are
still on the crest of the wave and have steadily continued our march forward. Furthermore, Chaanakya
now reaches out to the corporate world and other departments of the University as well.
Every single issue right from the rst to the centenary one has marked an improvement in standards
and quality of Chaanakya. Started as a four page newsletter, Chaanakya today has 20 pages of knowl-
edge and insight. It showcases diverse articles ranging from current affairs to international markets,
stock graphs, debates, nancial creativity, alumni insights, genius games and quizzes.
Chaanakya has seen many changes since its inception. Every volume of Chaanakya had something
new for its readers. Along its journey, Chaanakya added new sections like Alumni Speak (Interviews
of the alumni of MBA Finance, CUIM, their views on various issues and advice to the students), Com-
modity Articles, Investors focus (Buy/Sell recommendations based on technical analysis of the stock)
and Book Review which stimulated interest among the readers to pick up a copy for themselves.
Team Chaanakya came up with the initiative to bring out quiz competitions for students in 2011 which
proved to be highly successful. Students who participated in various B-School competitions credited
their success to Chaanakya.
The strength of Chaanakya lies in its commitment to punctuality, hitting the mail boxes every fort-
night on time every time irrespective of holidays and examinations. Team Chaanakyas zeal, commit-
ment, hard work, and their continuous pursuit of quality make Chaanakya the most read and highly
acclaimed newsletter in CUIM. Chaanakya has never compared itself with the newsletter of other
departments, but has created a benchmark for itself. We hope that this hard work and commitment will
be carried forward by the junior team that would make Chaanakya a national level nancial newsletter
in B-schools someday.
It is perhaps easy to look back at the last 100 issues of Chaanakya and be content with our collec-
tive efforts. Without a doubt, there is much to be proud of Chaanakyas four years of publication.
We believe that, in many ways, Chaanakya has fullled some of its initial goals. For example, when
challenged with the question Why start a new newsletter? The response given in 2007 was ...
hope this forum will provide a common vehicle for bringing together the diverse concepts, ideas, and
techniques that make up Finance. The newsletter has not only achieved this goal but has also gone a
few steps ahead. Our challenge for the future is to continue to address the changing needs of the read-ers and implement new approaches and techniques. The continued inputs from our esteemed faculty
members and support from new batch of students will be critical to meet these goals.
retrospect
01
Compiled by: Kumar Gaurav;Rajat Sikri; Sandeep Kalra
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The background of Western Economy before the decline
The signals of economic fallout started around the year 2007-08. Currently western countries arefacing this crisis due to the way they have structured their nancial markets. Most of the countries
which are undergoing this situation are due to heavy dependence theyve had on the nancial markets.
To start off, the US economic situation was as follows after four years of speedy growth, the country
had come up with many nancial instruments to mitigate risks. Especially the hedge fund investors
who wanted to protect themselves from a fall from the high position they had taken. This led to many
innovations like derivative products. Banks started securitizing loans and selling them off to other
parties and hence generating liquidity for themselves. This led them to giving more loans to the riskier
groups or NINJA groups as land prices kept raising due to increase in demand for homes. What banks
failed to realize is that they were creating a whole pool of defaulting customers. But they were happyas long as they could dispose of these risky assets to other players in the market. The banks started
creating more of an investment banking environment throughout the economy. And when ination
reached double digits, the fallout was on its way, much faster than the growth rate!! The country kept
creating more risky assets to come out of one risk.
The situation that Ireland faced is quite similar. It was the greed of the private players in the market
and bankers which has led to the pain being inicted on the citizens the tax payers. What the govern-
ment did wrong is take up the obligation of recovering the debts created by external investors. This
has led to high unemployment and ination.
The Greek economy is feared to default. The reasons behind Greeces condition are as follows. Dur-
ing the period of 2000 2007, Greece was the fastest growing economy in the Euro zone. This was
mainly attributed the fact that Greece adopted euro as its currency in January 2002, which made it
possible for it to borrow loans at competitive rates and also lower the rates in the euro bond markets.
This led to increased domestic expenditure and economic boost. During this phase Greece recorded
an average GDP of 4%, almost double of Euro Zone at that time. Greece at that time also had huge
trades with the US with the exports from US amounting to billions of dollars. When the states started
to reduce their international trades due to recession, Greece started getting affected. With the western
countries facing recessional winds, the Greek government lost access to credit, world trade and do-mestic consumption the three important engines of growth for the country. Greeces growth rate fell
to 2%. Further to keep in track with the monetary union guidelines, the Greek government paid huge
amount of money to major banks like the Goldman Sachs to hide their true economic statistics. This
though helped Greece to obtain more debt and renancing, has eventually led to deepen their debt
situation. And ever since the credit rating agencies have downgraded the countrys credit worthiness,
investors have lost their condence in the country, FDI ows have stopped, leaving the country in a
deep pit from where it is difcult to come out.
The Italian economy is facing a stagnant situation despite certain achievements it has to its name likehighly industrialized developed nation is due to its political corruption and the northern and southern
state divide.
swift shift of the easteRly winds
02
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The reasons for decline in the Western EconomyThe reasons for decline of the western economy could be attributed to two components, the nancial
component and the effect on the ability and will of western powers, to project power. The other factorwould be the profound effect Americas awed thinking about the world.
Europe is in sovereign debt crises, which may worsen with times to come. The health of German banks
may be considerably worse than is commonly believed. France too is in a much weaker nancial posi-
tion, than it realizes. The Euro sovereign debt crises, in one angle are seen as crises of the democracy.
The crisis began with Greece running out of funds to pay its debts. It was then funded by the EU to
prevent Greece from defaulting. Greece instead spent the money too lavishly on its people. It had given
false gures to sell its bonds and some say even false gures to get into the EU. Also rules were estab-
lished that each country should keep its nances, and must not expect others to subsidize its expenses,
however this rule was broken. But the fear was that if they dont help Greece out, other PIGS (Portugal,
Italy, Greece and Spain) countries could default on their debt as well. These countries also borrowed to
the hilt and banks and investors might not buy their government bonds at an affordable interest rate if
they think richer northern countries are not coming to help them. If a large country like Spain defaults,
then it would damage the European economy. This crisis did not start overnight. The concept of un-
equal distribution of wealth plays its role here, and this has existed since decades.
Another hypothesis claims that the euro crises were allowed to evolve in order to deate the euro.
As we have now entered into the competitive currency devaluation era where the theme is devalue
or die, nations will take up any measure to keep their products competitive in the global market. AsGermany was replaced by China in the eld of exports, the euro was further devalued, and then when
things started to look really bad, the EU pretended to help by approving a huge package, but this pack-
age would now devalue the euro even more. If they had approved a bailout package immediately, the
euro would not have shed as much as it did. In a matter of months the Euro dropped almost 24%; in the
currency markets, this is considered to be a very large move. Another factor to consider is that no gov-
ernment wants to pay its debt in a stronger currency; governments borrow money so that they can pay
it back with cheap currency. Thus while one currency might appear to be appreciating against another;
the truth is that they are all falling down, some faster than others. Clearly, all these governments have
been overspending and over borrowing for many decades.
United States is proceeding to aggravate the health of the global economy through a huge new infusion
of money, which is going to devalue the dollar and set off a war of competitive beggar thy neighbor
devaluations. It is certainly not going to improve Americas employment situation and its going to
massively worsen the current scal crisis. The state of the economy, national as well as global, has a
material effect on Americas ability to project power. Moreover the U.S. is now planning to bring in the
twist again. This means a twist of the yield curve, which ultimately melted the stock markets. It is a
situation in which governments sell nancial securities (bonds) of various maturities to nance their
scal decit. By alternatively buying and selling these bonds they plan to uctuate prices and thus gain
in the process. This format when adopted earlier was one of the major reasons for the crash in stockmarkets which had a profound effect worldwide.
Stock markets across the world are seeing a downward trend, many nancial institutions too have col-
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lapsed or been taken over. This led to governments of the most nancially strong nations too had to
come up with rescue packages to sustain their nancial system. There have been various acts contribut-
ing to this decline, which created a wave of downfall throughout the world.
High street banks got into a form of investment banking, buying, selling and trading risk. Investment
banks, not content with buying, selling and trading risk, got into home loans, mortgages, etc without
the right controls and management. Many banks were taking on huge risks increasing their exposure to
problems. Perhaps it was ironic, that a nancial instrument to reduce risk and help lend moresecuri-
tieswould backre so much. There is a crisis of condence even now. Assets were plummeting in
value so lenders wanted to take their money back. But some investment banks had little in deposits; no
secure retail funding, so some collapsed quickly and dramatically. The problem became so large, banks
even with large capital reserves ran out, so they had to turn to governments for bail out. New capital
was injected into banks to, in effect; allow them to lose more money without going bankrupt. That stillwasnt enough and condence was not restored.
The Wall Street is blamed by many for causing the problem in the rst place because it is in the US that
the most inuential banks, institutions and ideologues that pushed for the policies that caused the prob-
lems. The subprime crises, in appropriate analysis of the market by nancial institutions in the U.S.
while lending money, the credit crunch, poor performance of the economy and unexpected reaction of
the nancial markets to the plan devised by the government were some of the major factors leading
to the decline. A failure in decision making, to revive themselves from the crises, was another factor
which worsened the situation.
Factors inuencing the growth of Eastern EconomyGDP Growth Rate:
While the G7 countries have had a very volatile GDP growth in the last 5 years with 2009 recording
some of the lowest (negative) rates, Asia has grown 9% last year, but they will continue with a 7.8%
growth and a 7.7% growth rate in the next two years. This high growth is led by China whose growth
rate last year was over 10%. The growth rate of China will slightly moderate but it will continue to have
a higher than 9% growth. In 2011 it is expected to grow 9.6% and in 2012 it is expected to grow 9.2%
India is also doing quite nicely. Their growth rate will moderate a little bit like China. Their growth ratewill be above 8.2% in 2011 and 8.8% in 2012. Its not just for India and China, actually the high growth
in Asia is quite broad-based and other regions are actually doing well. Central Asia benets from the
higher oil prices, so it will actually have a higher growth rate compared to last years. The region will
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have higher than 6% growth rate. East Asia, led by China, will still have above 8% growth rate. South-
east Asia, and if you look at Indonesia, it is doing quite nicely and its growth rate is projected above
6%. Malaysia, its growth rate will moderate but it will continue to have a growth rate higher than 5%.
Ination:
High ination hurts economic growth. Economies that suffer from high ination usually suffer from
relative price distortions as different prices adjust at different speeds and in different time patterns.Moreover, high ination economies tend to have high volatility of real interest rates and real exchange
rates.
However, ination pressures are building up. The average ination rate in Asia was 4.4% in 2010. It is
expected to increase to 5.3% in 2011 and we assume the Asian governments will do monetary tighten-
ing and pursue anti-ination policies. That is why we are expecting ination in 2012 will moderate to
4.6%.
Future Growth for Eastern economies:
Asias recovery is quite rm with growth rate nearing 8% in the next two years, more specically 7.8%
in 2011 and 7.7% in 2012 despite modest recovery in the major industrial countries. However, ination
pressure is building up and, considering the geopolitical risks in the Middle East and North Africa, we
expect high oil prices is likely to continue which may make Asia -- home of 2/3 of the worlds poor
quite vulnerable to the ination pressure, especially food price ination.
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Over the medium term, the challenge for Asian economies is to sustain its high growth for the next de-
cade. It has to nd alternative and supplementary source of demand and new source of growth for the
global economy as well as the Asian economy. It is very unlikely that major industrial countries willbe the engine of growth for the global economy again anytime soon. So, in order to take up the slack
from the West, Asian economies have to nd new and alternative source of aggregate demand. Another
important factor, unlike the past, the growth of Asia last year was led by domestic demand rather than
external demand.
In sum, our study nds that the Asian recovery is quite rm, with the growth rate nearing 8% in the next
two years. Asia will and is leading the global recovery but rising ination is a concern and the policies
will have to be quite coherent in coping with ination.
Current situation of East against the WestWhen the HSBC Board announced last year that the Group Chief Executives main ofce to Hong
Kong, it prompted a number of reactions. Some asked if it was a rst step towards moving HSBCs
headquarters away from London. Some wondered if HSBC was going to split the bank into two. In
fact, the move had everything to do with Group strategy. HSBC has long been convinced that the
worlds centre of gravity is steadily shifting east and south.
Hong Kong for example, is perfectly located. Not only to tap into whats happening in mainland China,
but also the ows of business in Asia and between Asia and the rest of the world.
A new phase for the global economy
Emerging markets are set to grow three times faster than developed ones. In other words, they are driv-
ing the global recovery. Many Western nations will struggle for some time, and we could see further
setbacks, particularly in Europe. It is now the emerging markets that are leading the way forward, in a
way few would have thought possible only a few years ago.
The economic repower of emerging markets will overtake the developed world - measured by pur-
chasing power parity. Its a dening moment. Its hard to believe the term BRIC was invented only ten
years ago. And what a ten years it has been. Brazil, India and Chinas roles are now secure on the world
stage. As for Russia, the potential is there with its strong commodity base and its growing wealth. CIV-
ETS are named after the cat-like animals found in many of these countries. These are the new BRICS:
Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa. Each has large, young, growing popu-
lation. Each has a diverse and dynamic economy.
Changing patterns of wealthThe economic shift is creating a new middle class. In 2000, the emerging market middle class numbered
250 million people. By 2030, it will be 1.2 billion. Asia-Pacic will become home to more millionaires
than the USA or Europe soon. China already has more millionaires than the UK - and the average age
of their millionaires is an enviable 43. All of this has implications for any industry that relies on con-sumers. Chinas tourists are now the number one spenders in Paris, ahead of the Americans and even
the Russians. China has also become the second-largest luxury goods market in the world, consuming
25% of luxury goods such as Louis Vuitton handbags and Rolls Royce.
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Changing trade routes
Latest research shows that export orders are at their highest levels in emerging markets for ve years.If anything, things are speeding up. And companies are taking on staff at the fastest rate for two years
just to meet that demand. These exports are not all bound for the West. In India, two thirds now go to
markets other than the US and Europe. And last year, China became the largest importer of Brazilian
goods.
There is still plenty of room for growth. Financial and capital markets in most emerging markets are
small relative to GDP. Even now, only a quarter of the value of Chinese corporations is publicly listed.
This compares to more than 70 per cent in the USA. Its clear that emerging market currencies will
become preferred stores of value in the years ahead. Its also clear that since the crisis started, the nan-cial centres like Hong Kong and Singapore have been closing the gap on London and New York. And
this gap is likely to continue to narrow, with many western markets facing years of austerity ahead as
they attempt to regain control of their fragile scal positions.
Expressing in some words, what "Chaanakya" gave us is a tough task and I amprivileged to work as a member of team "Chaanakya. It gave us tremendous learn-ing of basic financial insights and world economy as well as the ability to work in
a team effectively. It was difficult to bring Chaanakya every 15th day withoutcompromising with its quality, but we never failed to keep our word "EVERY TIMEON TIME".
Amit PrakashMBA Finance
Its content is really helpful for us to know the current financial world. Quizzes& current affairs really help us to enhance our general knowledge. I am lucky tohave this on every fortnight basis but would like to have it on a more frequent
basis. Ankit KoolwalJUNIOR MBA N
07
Written by: Rao Pavan ;Richa M Jain; Ritu Jadwani; Vinutha V Jois
Our Sources: www.imf.org_external_pubs_ft_weo_2010_01_pdf_text
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AT & T to buy T-Mobile from Deutsche Telecoms for $39 billion.
ROMANIA will soon get a new loan worth 5 billion euros ($ 6.8 billion) from the International
Monetary Fund (IMF) and the European Union. Proceeds will be used to prevent a debt crisis.
Hero Honda Motors Ltd (HHML) will pay at least `2,350 crore as royalty to Honda Motor Co.
Ltd till June 2014 as a part of the fresh licensing agreement signed between the two rms after the
Japanese rm decided to exit from the joint venture in December.
Microsoft buys Skype in $8.50 billion deal.
Handset maker Nokia is likely to be paid hundreds of millions of dollars by Apple after victory in
a legal wrangle over technology used in its arch-rivals top-selling iPhone.
Frances LAGARDE has been elected as new IMF chief. She will be the rst women who will head
IMF.
India and China are now the top choice of Canadian investors, according to a survey by Franklin
Templeton Investments Corp. According to the survey, 38 percent respondents think India and
China represent the greatest investment opportunity over the next decade.
The euro zones debt crisis has taken a dangerous turn. Contagion is singeing the currency blocs
third biggest economy Italy, which would be too big to save with existing EU nancial re-ghting
tools.
British consumer products giant Reckitt Benckiser has named its global marketing head Rakesh
Kapoor as its new chief executive, a rare appointment of an Indian to the helm of a marquee
European corporate name.
Tata Chemicals Ltds (TCL) acquisition of 25.1 percent stake in a greeneld fertiliser project in the
west central African country of Gabon has increased the Tata Groups presence in Africa.
World Bank President Robert Zoellick shufed top management on August 26, 2011 naming bank
veteran Caroline Anstey to one of the top four posts.
Ghana will repay its $3 billion loan from the China Development Bank at an interest rate of 6-month
LIBOR plus 2.95 percent.
From June 30 2011, 50 paisa will be the minimum coin accepted in the markets as all denominations
below it will cease to be legal currency. Also, the entries in books of accounts, pricing of products,
services and taxes should be rounded off to 50 paisa or whole rupee from this date.
08
MajoR news highlights
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The Securities and Exchange Board of India (SEBI) on January 14, 2011 said billionaire Anil
Ambani cannot invest in publicly-listed securities until the end of this year, and barred two of his
companies from such investments until the end of 2012.
Government scrapped the 1000 cr deal between Antix Corp. Ltd., the commercial arm of ISRO
and Devas Multimedia Pvt Ltd. to offer multimedia services via two proposed government funded
satellites.
Shipping Corp. of India Ltd, the nations largest sea cargo carrier, hired State Bank of India (SBI) to
help it borrow $216 million around (960 cr) in a two part loan.
Cheque transactions worth over` 8.66 lakh cr were carried out in the country during April, 2011,
with a growth of over 0.7 per cent from the same month last year.
To ensure greater participation of retail investors, SEBI is planning a series of changes to the existing
Demat, IPO and secondary market trading rules. These changes will not only make the stock market
a safer place but also streamline the entire process of investing.
India slipped one step to become the fourth largest steel producer in the world in 2010 with 68.3
million tonnes (MT) production, according to World Steel Association (WSA).
The Reserve Bank of India (RBI) extended the time limit for buyback of Foreign Currency
Convertible Bonds (FCCBs) issued by companies, by nine months to March 31, 2012 but has
reduced the discount slabs for the buyback.
India has overtaken Spain to become the 11th largest insurance market in the World. But while the
Indian market has jumped up 10 places in the last decade, Indian companies individually are yet to
make their presence in global rankings because of their localized operations.
The countrys second-largest bank, Punjab National Bank, has said that it has acquired a 30% stake
in the Indian arm of the biggest US life insurer MetLife at an undisclosed amount.
Food ination accelerated signicantly in the week that ended on July 30 because of simmering
price pressures in several commodities, even as the Reserve Bank of India damped down hopes of a
pause in rate increases, at an informal interaction with top bankers in Mumbai.
The government has approved 18 FDI proposals worth `122.79 cr including those of Pipavav
Defence and Offshore Engineering Company.
09
Compiled by: Gurjit Singh; Vaibhav Nagar
8/3/2019 Chaanakya 100th Issue
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Vu a f cub
cr Uvr iu Mm
There are more than 8 committees in the nance club of CUIM Finance Dept. which work together
for providing knowledge and practical application for the students of nance. Some of the value
addition activities that took place during the last year were:
Workshopcommittee
Excel Workshop:
Excel offers new data analysis and visualization tools that assist in analyzing data, spot-
ting trends and accessing data more easily than in the past. The beauty of Excel is that it can be
used as a receiver of workplace or business data, or as a calculator, a decision support tool, a data
converter or even a display spread sheet for data interpretation. The workshop committee had
conducted 2 excel workshops for the nance students.
There was a workshop on excel basics conducted by the senior committee members. Secondly,
there was an advanced excel workshop conducted by Pramartha organisation facilitated by Mr.
Mahindra and on successful completion of four sessions certicates were awarded.
SAS Workshop:
Due to positive response and feedback from the senior students, a SAS workshop was
conducted for students across all specialization with maximum participation from nance stu-
dents.
Documentary Committee:Visual media has proved to have more impact on human mind as compared to oral or
textual media. There were many videos showed related to the nancial world out of which these
are important Movie The Insider -The movie focused on ethical behaviour in the corporate
world, whistle blowing and corporate social responsibility Documentary-On Forensic investiga-
tion focusing on auditors responsibility . The video was taken from Association of Certied
Fraud Examiners (ACFE).
AdditionalCertifcation:
The committee came out with a supplementary issue to the Chaanakya, which bringsout various additional certications that a nance professional can aspire for.
NCFM EXAMS : These exams help us to give an insight into the nancial markets and ser-
vices. Students are required to take minimum 3 modules.
NISM EXAMS: The committee members requested the BSE authorities to conduct the NISM
Mutual Fund Exams in Banagalore specially for Christ college Mba students and they conducted
the same.
CFA : Mr. David E. Upton had given us brief insight into CFA exams including the pattern ofquestions, level of difculty and how to study for the exams . He motivated lots of students to take
up the course.
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Contemporary Issues Committee :
The world is changing at a fast pace and every factor which is impacting or getting
impacted by it has nancial implications and we need to be aware of these contemporary issues.
The contemporary issue committee conducted a discussion on annual budget and monetary policy
2011. They also came up with articles on recent issues in Chaanakya.
Numbers and quiz committee:
Numbers speak for themselves & Quiz is very important because it is a part of your
education to test your knowledge and skills of what youve been learned. This committee releases
certain numbers like all the important indicators of economy like Repo rates, etc. There were three
quizzes conducted by the committee for the nance students of our college.
Corporate Interface committee :
This committee was successful in getting a lot of corporate heads and executives to the
college to share their experience with us and give us a practical view of the corporate world .
Some of them are:
ING Vysya Insurance- CFO- Mr. John Boers.
Zerodha CEO-Mr Nithin Kamath who gave us session on stock markets.
SBI Mr D. Subramani who gave us a session on credit appraisal.
Alumni committee
Alumni are the strength of any organisation and our Finance club was constantly in touchwith them. Finance club contacted alumni and their interviews were recorded in each Chaanakya
issue.
Placement Committee
Our nance club placement team has worked hard throughout the year, beginning with
collecting database of our senior nance student selected in various companies to help our batch
mates to know about recruitment process of rms coming for campus recruitment. We also col-
lected data of our batch mates internship details to help our juniors to nd prospective company
& relevant project for summer internship project. Time and again we also organized various mockGD sessions to help students to know more about GDs.
11
Chanakya aims at a wide circulation and visibility in the finance profession. The journal publishes high-quality papers in all areas of financial economics, bothestablished and newly developing fields including asset pricing, corporate finance,
banking, law and finance, behavioral finance, and experimental finance.
Praveen SidolaMBA Operations
Compiled by: Ashish Chopra; Prachi Rathi
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joURney of the econoMic nUMBeRs
fRoM MaRch 2010 to septeMBeR 2011
Post the sub-prime crisis, India has shown a favorable growth. But
for the last one year i.e. March 2010 to September 2011 the growth of the
country is showing a downward trend. The GDP of the country has fallen
from 8% to 7.7% as on August 2010 and due to this the Prime Minister
Advisory Council has changed the projected GDP to 8% from the previ-
ous 9%.
When it comes to ination, the country is seeing a regular rise in
the headline ination. The main problem is the rise of core ination or
the non-manufacturing ination. The headline ination was 10.36% in March 2010 to 9.78% by
September 2011 while the core ination was 3.5% as against 7.8% today. So, it can be clearly seen
that ination was a major area to focus on during the last 19 months. Still, RBI is not able to bring
down the ination which is nearing the peril level of double digit.
The central bank of India took some measures to tame ination and the effect is the increase of key
rates 12 times in the last 19 months. The key rates include the repo rate and the reverse repo rate.
The repo rate changed from 4.75% in March 2010 to 8.25% in September 2011. When it comes to
reverse repo rate, the change is from 3.25% to 7.25%.
When it comes to stock market, the Sensex has given negative returns in the period between
March 2010 and September 2011. Sensex has given a return of -1.9% during this period. Nifty has
given a return of -1.7%.
In IIP, India has grown better in June 2011 when compared to June 2010. In June 2011, IIP grew
at 8.8% as against 7.5% in June 2010 and in May 2011, it stood at 5.9%. The increase in IIP is due
to one area which is Capital goods which grew at 37.7% year-on-year and 30% month-on-month.
The Manufacturing sector output which constitute over 75% of the index grew by 10% in June
2011 as compared to 7.9% in June 2010. The mining sector grew at 0.6% in June 2011 as against
7% in June 2010. This clearly indicates that the mining sector has been growing very slow com-
pared to capital goods and manufacturing sector.
India reached the highest ever monthly exports in June 2011 which helped the country to reduceits trade decit to $7.7 billion which was $15 billion two-months ago. This still shows an average
performance as the trade decit was still less at $6.9 billion in June 2010. The value of exports and
imports for month June 2011 stood at $29.2 billion and $36.9 billion respectively which shows a
growth of 46.6% and 42.5% respectively. In the imports section, the non-oil imports grew sharply
by 47.8% to $26.9 billion as against $18.05 billion for the month of June 2010 and the oil-imports
showed a positive trend by growing at 30.1% to $10.18 billion in June 2011. The exports increased
by 45.8% for the period April-June 2011 to $79 billion but the imports increased by 36.6% to
$110.6 billion. The exports may slowdown in the near future as there is a chance of double-digit
ination in India and a double-dip recession in the developed countries. The overall economic
growth of the world may also see a slowdown in the exports.
Fiscal decit of India is presently at 4.7% of GDP as against the target of 4.6% of GDP. The scal
decit in the rst half of the scal year stood at `228753 cr which is approximately 55% of the
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targeted scal decit for the whole year. Government target the scal decit at 4.6% of the GDP
which comes to be `412817 cr. When it comes to revenue decit for the period April-July it stood
at`
194920 cr which is more than 63% of the full year target of`
307270 cr. If we consider themonth of July 2011, the revenue decit stood at `60299 cr.
India has a massive revenue generation from Foreign Direct Investment (FDI) inows which
showed a massive jump of 295% in June 2011. It stood at `25371 cr which is $5.65 billion, the
highest monthly inow in the last 11 nancial years in INR terms. The FDI inow rose by 129%
for the period of April-July 2011 at `60163 cr as against `26261 cr for the period April-July 2010.
The areas where FDIs have seen potential and have invested a lot are Service Sector, Housing
and Real Estate, Telecommunication and Computer Software and Hardware. Mauritius was the
top investing company contributing to 41% of the total FDI inows in to the country.
13
Compiled by: Naveen Kulkarni; Sumit Kumar Gupta
Cartoon by: Md. Zafar Iqbal
8/3/2019 Chaanakya 100th Issue
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analysis of oUR inVestoR focUs
Investors Focus is an initiative started in October 2010, to bring the readers attention towards the
use of Technical Analysis to time the investments (entry and exit) for fundamentally sound stocks.
However, to be able to demonstrate its application within a short period, the calls (Buy or Sell)
are given for a period of 15-30 days so that readers can assess performance every month, makingfollow up to the previous issues convenient for them.
The intention is to familiarize readers with various technical analysis tools, illustrate with charts
and provide their interpretations. Some of the most popular tools like Japanese Candlestick pat-
terns, Momentum, MACD, Commodity channel index, Volume, Relative strength index and Sto-
chastic oscillators are used to generate Buy/Sell signals with a target price and a downside limit-
ing stop loss price. Price chart patterns such as continuation triangles, head & shoulder bottom,
diamond bottom, pennant, ag and breakouts are used in combination with above mentioned tools
to signal a condent Long/Short position call.
Each issue begins with an overview of the broader equity market and major happenings in Indian
and world economy. It also highlights one company replete with basic information about it and
also its nancial ratios along with its recent earnings growth. Thus Investors Focus is an informa-
tive article for readers interested in Indian equity markets.
Chaanakya
Issue
A v e r a g e
Returns
Call Ac-
c u r a c y
Issue 4.14 3.97 50
Issue 4.15 10.85 100Issue 4.16 1.11 50
Issue 4.17 16.67 80
Issue 4.18 7.53 100
Issue 4.19 4.68 75
Issue 4.20 4.44 50
Issue 4.21 3.81 75
Issue 4.22 10.95 100
Issue 4.23 5.63 75
Issue 4.24 5.58 75
Issue 4.25 2.83 75
Issue 5.02 2.14 50
Issue 5.03 4.05 75
Issue 5.04 8.44 100
Issue 5.05 4.63 75
Issue 5.06 3.46 50
Issue 5.07 4.53 75
Issue 5.08 3.89 75Issue 5.10 7.79 75
Issue 5.11 5.69 75
Issue 5.12 6.39 100
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Total Return (%)* 94.175
Annualized Return (%)* 98.27
Overall Call Accuracy (%) 75.22
* The returns are calculated as the average of compounded returns of alternate issues (Month beginning & Mid-month).
The graph shows growth of`10,000 invested at beginning of 1st & 2nd issues.
A wonderful finance newsletter which gives an extra edge to its readers. It feels goodto be a part of this amazing journey.
Prateek NangiaMBA Finance
A comprehensive finance oriented newsletter, proud to get associated with 100thissue. Congratulations to team & support staff.
Chinmay JethwaMBA Finance
Chaanakya has always been a valuable resource to keep myself abreast with thelatest in financial world and the events surrounding it. It is something that I wouldrefer back to at any stage of my life if needbe. Cheers to the entire Chaanakya
team for the hard work put into making this amazing Magazine.Abhinav DasMBA Finance
15
Compiled by: Madhukar Das
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100 and its pecUliaRity!
Chaanakya The Strategists Magazine is on the verge of completing its successful century in
a style, with its centesimal issue on the roll.
100 has always been a unique number in itself with various mathematical facts surrounding it
and the cent percent has always been an elusive dream in exams for the students to achieve (at
least elusive for me). In 2011 as the Indian economy is facing the litmus test to verify its ability to
survive the nancial turmoil across the globe, I will take you 100 years back in 1911 when some
distinct geo-economic events took place which affected our present economy in some or the other
way:
The countrys capital was transferred from Kolkata to New Delhi by King George V in
December 1911.
The rst issue of PIG RUPEE, that was minted from both Kolkata and Mumbai then in1911. The coins had an impression of elephant on the Kings robe that was considered to resemble
a pig, thus the variety known as the pig rupee got established.
Central Bank of India, a government-owned bank, is one of the oldest and largest commer-
cial banks in India. It is based in Mumbai. The bank was founded on 21 December 1911. Now the
bank has 3,563 branches across 27 Indian states and three Union Territories.
National Anthem Jana Gana Mana composed and scored by Nobel Laureate Rabindra-
nath Tagore was rst sung at the Calcutta Session of the Indian National Congress on 27 Decem -ber 1911.
The Tata Iron and Steel Company Ltd. (TISCO) was set up in 1907 at Jamshedpur, Bihar.
The rst ingots were rolled in TISCO in 1911.
Bihar and Jharkhand formed the part of Bengal Presidency till 1911, when on 12 December
1911, a separate province of Bihar and Orissa was created.
On Feb 18, 1911, Henry Piquet ew his Humber bi-plane from Allahabad to Naini, six
miles (eight km) away, in Uttar Pradesh, carrying rst ofcial airmail, marking the beginning ofair transport in India.
So from TATAs initial production to the marking of 100 years of civil aviation in India to the divi-
sion of states or to the establishment of banking fundamentals, India has come a long way in these
100 years to where it stands tall in the world today as the most stable and fast growing economy.
In the same way with the previous 99 successful issues Chaanakya has made its mark as the most
prominent nancial magazine rolled out from the stable of Christ University and now with its
100th issue on the roll it redenes solidarity and establishes faith among academicians.Our Sources: www.indiachild.com; www.indiacurrentaffairs.org; www.whereincity.com
16
Compiled by: Anubhav Jain; Dhruv Chopra
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a woRd with pReVioUs editoRs
Name- Mathew A Thomas
Batch- 2006-08
Present organisation- Infosys
Chaanakya:First things rst, how does it feel to hear about the grand 100th is-
sue of Chaanakya?
Mr. Thomas: Time ies so fast, it just seemed like only a few months back I had
come there on its 50th issue, but when I look back in time, that was two years
ago. This is really a remarkable milestone that had a very humble beginning.
Chaanakya:What was the idea behind beginning a magazine like Chaanakya? Do you think it has
achieved the intended motive?Mr. Thomas: We started with a simple concept of engaging the students with the current affairs. It
was a platform for them to express their views too. We had a long term vision of making it a jour-
nal with research papers contributed by students only. To that respect the magazine has been able to
achieve its rst intended purpose. The inclusion of debate & editorial section is a good step in our
long term intension for the journal, but still some way to go before we can showcase this journal to a
world outside Christ College.
Chaanakya:What was the challenge/s that you had to face with respect to Chaanakya, in any aspect?
Mr. Thomas: As I mentioned earlier, we had a humble beginning, and generally people dont want
to get associated with small things. We had difculty getting students, to take up responsibilities as
there were pressures of performing well in the exams and obviously the future of this magazine was
uncertain. To dream that it will see the light of 100th issue was amboyant.
Chaanakya:What kind of coordination was received during the rst year of Chaanakya?
Mr. Thomas: Our major source of inspiration was our mentor Prof T.S Ramachandran. It was his
push that kept us going. The editorial team had to work hard during exam days, but the magazine
never missed any timelines, thanks to the hard work of few folks namely Ritesh, Sindhu, Simi and
Soumyaranjan.
Chaanakya:Chaanakya from 5 to 20 pages, 5 to 30 member team. Your comment on its progress, and
the showcase in the editions that you have been seeing.
Mr. Thomas: Participation of more number of students is highly commendable. This will give a good
platform to all those students who are not able to showcase their talent in other fests or events. The
editorial team has been successful in bring out new content ideas, thus making this newsletter an in-
teresting read all the time. Those who are following it from the start know the changes this newsletter
has undergone, and all for good.
Chaanakya:Its time for Chaanakyas new team, what suggestions would you like to give them?
Mr. Thomas: Its time to move to the next level. May be once in two months or quarter, bring outthis newsletter with a couple of pages of research article purely written by a student on any nancial
topic/news/happening etc. Gradually we can transform this magazine into a journal comparable to the
standards brought out by IIMs or ICFAI.
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Chaanakya:How is your journey so far in the corporate world.
Mr. Thomas: It has not been a cake walk as we dream while we are doing our MBA, but Hardwork
and Smartwork pays it all. I joined as a team member and now am a Team leader of 11 professional
all either MBAs or CAs. I got a chance to work personally with the Country Head of the major Alu-
minium giant of USA and the work was recognised and rewarded.
Chaanakya:Please discuss any recent happenings that races to your mind when you think of the
Global/Indian Financial scenario and give your opinion on the same
Mr. Thomas: The recent US debt crisis and spurt in Gold prices created a mindboggling gold seeking
rush. It was almost a panic situation and everyone wanted to hoard gold in his possession. The latest
data shows that the usage of gold in industry or jewellery has come down by 18 % since 2004 but
prices have gone up much more than that. This is a bubble situation and we cant be sure when it willburst. According to one expert, if society collapses, caned food and guns will be of more value than
gold. So I think we should invest wisely and not be drifted by the market sentiments. And to avoid
any mis-happenings, we need to diversify our investments and have alternative sources of income.
Chaanakya:Thank you for sharing your thoughts, lastly we would like your word of advice to the
future nance professionals especially in the light of placements
Mr. Thomas: Choose the right company where you want to work at least for the next 2 or 3 years.
Dont get into any company just for the sake of getting placed. The best paying rms might not be
the one you want to get into because of their work culture, timings etc. So, take your time and get to
know of the prole and work culture of the rm from various sources and then decide.
Name- Fouzia Taranum B
Batch- 2007-09
Chaanakya: First things rst, how does it feel to hear about the grand 100th
issue of Chaanakya?
Ms. Taranum B: It is wonderful that the nance fortnightly has reached its
100th issue. Yet, none of us are very surprised. The dedication that went into ev-
ery issue ensured that this milestone would be achieved along with many more.
My heartiest congratulations to all the Chaanakya Teams, past and present.
Chaanakya: What was the challenge/s that you had to face with respect to
Chaanakya, in any aspect?
Ms. Taranum B: Initially, it took some time getting used to the strict timelines,
especially during exam time or having to coordinate during vacations. Eventually we learnt to dealand this helped us to learn to manage our time better. We have TSR sir to thank for the constant en-
couragement and guidance.
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Chaanakya:How would you dene Chaanakya in one line.
Ms. Taranum B: Its a good compilation of current issues, articles and potpourri on nance and -
nance related matters.
Chaanakya:What made you take up further studies after MBA? Put some light on sustainable devel-
opment course and future prospects of other courses for MBA grads.
Ms. Taranum B: There are limitless opportunities in the corporate world and beyond. After a brief
period with Tata Consultancy Services (TCS) as a Business Analyst, I realized that I wanted to do
something more. Circumstances afforded me this opportunity and I gladly grabbed it.
Studying or not is a personal choice and depends on what career path you plan for yourself. The
sector/s you see yourself in may not require any further qualications; rather work experience or
simply the aptitude to back you. Many of my friends are doing professional courses like CFA, FRM,
IPGDRM, project management courses among others in spite of their demanding job proles. Few
are taking up or are planning to take up PhDs. Few others are running their own businesses. It is all
up to you and your goals.
Chaanakya: Its time for Chaanakyas new team, what suggestions would you like to give them?
Ms. Taranum B: Please carry on with the great work. If possible try including an interview with
someone in the corporate sector, non-government/non-prot organisation, academic experts, entre-
preneurs, etc. once every few issues.
Chaanakya: Please discuss any recent happenings that races to your mind when you think of the
Global/Indian Financial scenario and give your opinion on the same.
Ms. Taranum B: There is so much going on! Great opportunity to learn. The European sovereign
debt crisis and fears of contagion, US credit rating downgrade, etc. have had an impact on the mar-
kets. The G20 Finance Ministers meet speeches have shown that we may potentially face currency
wars and competitive devaluations. There is speculation about Yuan as a reserve currency, while the
euro and EU are cast in doubt.
PM Manmohan Singh stated at the UN General Assembly that we are now dealing with the negatives
of globalization and interdependence. The efcacy of the Bretton Woods Institutions is being ques-
tioned.
We are talking about a greater role of India at the global economy level. At the same time, on the
domestic front, we face many problems due to these external as well as internal factors. The complex
debate on growth-versus-ination is on. Crude and commodity prices are causing further problems.
Exports have been resilient but we dont know till when. Rupee has depreciated and there is specula-
tion about RBI intervention in the forex market.
Fiscal imbalance is another issue to address. There is a need to address leakages in the subsidy regime.Corruption has rightly become the avour of the season. There are umpteen demands on the govern-
ment. Yet we have talk of policy paralysis. Scams have affected investor condence and there is a dire
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need to restore it by taking bold administrative steps.
Chaanakya:Thank you for sharing your thoughts, lastly we would like your word of advice to thefuture nance professionals especially in the light of placements.
Ms. Taranum B: This is probably said too often to all of you, but I would still like to reiterate. Please
read the newspapers, use the internet productively and keep yourself abreast with all the current
events. This will help you grow by leaps and bounds! And nd a passion for what you do. Things
become effortless and fun then. All the best!
Name- Manesh Paul Mani
Qualifcation-BTech, MBA
Batch- 2009-2011
Present organisation- MindTree Ltd.
Chaanakya:First things rst, how does it feel to hear about the grand
100th issue of Chaanakya?
Mr. Paul Mani: I am really proud to know that Chaanakya has hit Cen-
tury! Denitely I would like to extend my congratulations to all the teammembers who have made this happen and especially to Prof T.S. Ram-
achandran Sir who has been the driving force and the inspiration behind
this initiative. To have been associated in the journey of Chaanakya is
a pride for me. It has always been a great learning experience. This is also an achievement for all
the Chaanakya team members of ester years who have committed their seless efforts for this noble
cause. I am denitely sure that Chaanakya is destined for greater heights and will continue spreading
nancial wisdom to all, especially to the budding managers.
Chaanakya:What was the challenge/s that you had to face with respect to Chaanakya, in any aspect?
Mr. Paul Mani: Chaanakya has always presented me with challenges and thus given me opportu-
nities to learn and reinvent. The greatest challenge I would say was to set track the team effort and
exceed the expectations of the readers in terms of the quality and timeliness of the content. To be con-
temporary and to hit the readers with the buzz of the market, this was our mission and for this all the
team members worked throughout irrespective of exams. Being a fortnightly issue, the responsibility
was even greater. I still remember the days when we all used to stay awake working to ensure that the
next morning our readers have their copy in the mailbox. Be it the content writers, the reviewing team,
the designers, everyone played their role throughout with utmost enthusiasm and passion to bring out
the issues on time.
Chaanakya:How would you dene Chaanakya in one line?
Mr. Paul Mani: Chaanakya is a wealth of information realising the greater mission of churning out
nancially literate managers.
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Chaanakya: It has been a year since you delegated the responsibility of Chaanakya to us, what dif-
ference do you nd in a years time?Mr. Paul Mani: Rather than speaking about the difference in Chaanakya, I would like to commend
on the difference it would have brought about in each and every individual contributing to the various
issues. I am sure that Chaanakya would have instilled a sense of discipline and nancial literacy. I
would like to applaud the current team members for their dedication and effort towards bringing out
every issue on time and keeping the articles relevant.
Chaanakya:Its time for Chaanakyas new team, what suggestions would you like to give them?
Mr. Paul Mani: I would request the new team to keep the spirit of Chaanakya alive and continue
contributing to this great cause with their soul and mind. Our motto has always been to educate thereaders. To select contemporary topics, to scourge and to get the best information available on it and
present readers with the complete view in a crisp and concise manner is the challenge you have to
take up. Also brainstorming and rening to give a new dimension to the newsletter with lots of variety
and spice. Learning nance can be made fun. How you do it is up to you? I would request the team to
denitely draw inputs from the variety of sources but present their views on the topic of discussion.
Chaanakya:How is your journey so far in the corporate world?
Mr. Paul Mani: The journey into the corporate world has been interesting with each day a new learn-
ing experience. There is an ocean of information out there, lots of tasks you need to learn and perform
time bound. The challenge here is not only to perform; but perform the best. You have to be innova -tive, creative and challenge your limits.
Chaanakya:Thank you for sharing your thoughts, lastly we would like your word of advice to the
future nance professionals especially in the light of placements.
Mr. Paul Mani: To me, Placements is one of the most important decisions you take in your life time.
It decides to a large extend how your careers will shape. So it is ultimately on you to take informed
choices. But denitely there is no reward without hard work. We have to set time from our busy
schedule and prepare for the placements. If you commit yourself to a few hours of hardship every-
day in preparation, then it will save you a lifetime. To be able to better articulate and to present your
thoughts in an organised manner for debates, you have to read the newspapers regularly. They will
give you the fuel to speak. For interviews you have to be condent in your basics, so revise your fun-
damentals. Dont leave your careers to chance but take a bold step in dening your futures, for this is
in your hands.
21
Its a great magazine. Topics discussed in it are enriching and provides valuable
insight into current economic scenario. Chanakya helps in building a clear pic-ture of the industry.Jeta Prakash
Marketing
Interviewed by: Cymy Varghese; Geetika Gupta
8/3/2019 Chaanakya 100th Issue
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BANGALORE
CHAPTER
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largest anti-fraud organization and premier provider of anti-fraud training and education.
With members in more than 160 countries representing numerous industries and job
functions, the ACFE is your gateway to an influential and diverse group of anti-fraud
professionals who can provide valuable insight into launching your own career.
JOIN ACFE BANGALORE CHAPTER
Avail the Special Student Membership @ discounted fee for the year 2011-12
Rs. 500/- only (Regular Annual membership fee: Rs 1500)
Benefits of being a member of ACFE BANGALORE CHAPTER:
Attend Professional Development Meetings get insights from experienced CFEs
Attend Bangalore Chapter Annual Fraud Conference - get member discount on conference feesGet introduced to senior members in the industry increase your career opportunities
Make this your first step to establish a career as an anti-fraud professional.
This certification will complement your graduation and post graduation degree.
Key areas where you are likely to find ACFE members:
Internal Audit Independent Audit Law Enforcement
Investigations Governance, Risk and Compliance
Loss Prevention Computer Forensics
Consulting Accounting
President: Saket Bhartia Secretary: Ritesh Tibrewala
([email protected]) ([email protected])
Contribution By:
Rahul Sinha (Design)
Apoorv Jhudeley (Editing and Compiling)
Abhijeet Singh (Student Reviews)
Rohit Dhannawat; Saurabh Khator; Soumya Sar (Corporate Feedback)
Akshat Malik; Manan Datt; Mandeep Kaur (Interviews and Messages)Kumar Gaurav; Meenakshi Ramnath (Review)
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TEAM
CHAANAKYACENTENARYISSUE
FirstRow(FromLefttoRight):MathewAlexander,RaoPava
nSridhar,SandeepKalra,GurjitSingh,KumarGaurav,
MananD
att
SecondRow
:AmitPrakash,Md.ZafarIqbal,ChinmayJethwa,VaibhavNagar,SaurabhKhator,AnubhavJain,
TBDeekshitRavichandra,SoumyaSar,GauravJain
ThirdRow:M
adhukarDas,RohitDhanawat,MeenakshiR
amnath,VinuthaVJois,ApurvaGupta,RichaMJain,
Mand
eepKaur,RituJadwan
i,CymyVarghese,PrachiRathi,SumitKumar
Gupta,AbhijeetSingh
SittingRow:RahulSin
ha,ApoorvJhudeley,P
rof.TSRamachandran
,Fr.ThomasTV,
Prof.C
KTChandrashekhra,RajatSikri,AkshatMalik
ThisPhotoisincompletewithout:Nav
eenKulkarni,GeetikaGupta,PragathiP.,PrateekNangiaandAshishChopra
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