COVER STORY

Finance: The invisible backbone of every company

The success and profitability of every company solely depends upon its finance team and processes. But what do we mean by “Finance”? In this article, we explore what the various branches of finance entail, as well as the roles and responsibilities a graduate in MBA Finance should expect.... Read More

MBA BUZZ

Applying principles of behavioural economics to save money!

If you think you are immune to making irrational decisions, you are suffering from what is known as ‘Bias Blind Spot’, a type of cognitive bias where one recognises the impact of biases on the judgement of others, while failing to see the impact of biases on one’s own judgement. Wondering what the correlation is between cognitive bias and saving money? Read on! ...Read More

5 key things to make a B-school choose you

Every business school is looking for the best candidates. So you have to make sure that you’re standing out among the crowd. With just a couple of months remaining until the GD-Essay-PI rounds begin, now’s the time to start thinking how you can increase your chances of getting into your dream B-school. ... Read More

YOGA TALK

Boost your

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INSTITUTE PROFILE

Top B-School for Finance: India

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STUDENT SPEAK

'Know yourself really well to crack the interview!'

This is what Raj Doshi, a first year MBA student at IIM Ahmadabad has to say, as he shares his reasons to pursue an MBA in Finance from IIMA. In conversation with Kalyani Majumdar, Raj talks about his journey so far. ...Read More

PROFESSOR SPEAK

'8 hours of sleep for a B-school student is a myth'

...says, Dr Charan Singh, a former RBI Chair Professor at the Indian Institute of Management, Bangalore, former Senior Economist at IMF and Director of EGROW Foundation. In an interview with Kalyani Majumdar, Dr Singh shares his teaching experience in India and abroad, and the need for quality research on policy oriented issues.... Read More

CORPORATE INTERVIEW

'MBA taught me to take risks and be entrepreneurial'

....says Pawan Kaul, a London Business School graduate in MBA Finance and a Senior Analyst with Lacuna Vermögen GmbH, a German firm. In a tête-à-tête with Kalyani Majumdar, Pawan shares his learnings and observations from topics ranging from Fintech to Value Investment...Read More

CAREER BOOSTER

How to build CV that stands out in the crowd!

A Resume or a CV is every job seeker’s ‘Brahmastra’ that they feel will get them a job or an interview instantly. While it can’t guarantee you the job, it can certainly make you stand out of the crowd. But that will only happen when you know how to craft it.... Read More

NEWS SNIPPET

According to India Skills Report after a gap of 4 years hiring intent in 2019 is expected to be strongest especially in IT, automotive, travel and hospitality sectors. According to the report, almost 64 per cent employers have a positive outlook on hiring, 20 per cent said they will hire the same number of people as 2018 and only handful have a negative outlook for 2019.

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India is the second-most underinsured country in the world
With an insurance gap of $27 billion (approximately Rs 1.98 lakh crore), India is the second-most underinsured country in the world, according to a survey by specialist insurance and reinsurance market Lloyd. While India’s overall level of insurance penetration (total insurance premiums as a percentage of the gross domestic product) has increased 0.2 percent since 2012, it continues to have one of the highest underinsurance levels globally. Insurance gap refers to the gap between the actual sum assured required versus that taken. For example, if the insurance needed is Rs 100 and an individual has taken Rs 40, the insurance gap is Rs 60. It is a serious issue because it reflects that a country has to pay the financial costs of any large claims out of their own pockets and it occurs when a country’s citizens do not buy adequate insurance cover for covering their risks.
China has invested $198 billion in shantytown redevelopment
China has injected huge sums into redevelopment of shantytowns. The investment in a massive shantytown redevelopment project topped 1.37 trillion yuan ($197.64 billion) in the first three quarters of the year. Analysts say the project has boosted property demand as residents are encouraged to use cash compensation to buy a new home when their existing one is demolished.
Temporary closure of the Digjam, Jamnagar Mill
Recently, S K Birla Group-owned Digjam Ltd. Announced the temporary closure of its Jamnagar mill due to cash crunch. Digjam is one of the biggest exporters of woollen and worsted fabrics in India. Digjam exports its products to US, Canada, Middle East, Far East, Japan, Australia, U.K, Italy, Germany and other European countries. In its latest quarterly disclosure Digjam incurred a loss of Rs 10.12 crores during the quarter ending June 30, 2018. As of June 30, 2018, Digjam suffered from a working capital crunch of Rs 74.77 crore.
ArcelorMittal acquires Essar Steel
ArcelorMittal bagged the lender’s approval after a long stretched legal battle with other players to acquire Essar Steel. The other strong contender was the Russian VTB Bank-promoted Numetal. The company said it will now enter into further final negotiations with the creditors. Essar Steel was one of the 12 companies referred by the Reserve Bank of India that was put up for insolvency proceedings.
India’s Internet services may create 1.2 crore net jobs by 2011
A report by IAMAI stated that the internet services sector in India has potential to grow over three-folds to USD 124 billion with the help of favourable government policies and infrastructure improvement. The report also estimates that the internet sector is estimated to employ around 10 lakh employees presently, and is estimated to create 1.2 crore net jobs by 2022. The IAMAI report suggests that the sector can reach its potential USD 124 billion (around Rs 9 lakh crore) if certain critical factors are realised.
Oppo and Vivo sales strengthen BBK’s position in India
The mushrooming sales of Oppo and Vivo may have helped BBK strengthen its position as the number two smartphone maker by revenue in India in FY18. While Samsung and Xiaomi are already top competitors in the Indian smartphone market, it looks like BBK Electronics Corp might win the race to the top. The combined India revenue of these two brands stood at Rs 23,173 crore for the last fiscal, up from Rs 14,343 crore in FY17, when BBK emerged the second-largest phone maker. Both these brands crossed the Rs 10,000-crore sales milestone in the Indian market in FY18. India is the largest market for them outside China. Oppo Mobiles India's gross revenue rose 49% to Rs 11,994.3 crore, while that of Vivo Mobile India surged 78% to Rs 11,179.3 crore.
Earthquake and tsunami hit Indonesia
A 7.5-magnitude earthquake followed by a massive tsunami on 28th September devastated the Indonesian city of Palu. Scientists expressed surprise at the size of the tsunami, saying that an earthquake like the one that preceded it would not necessarily generate such destructive waves. The earthquake was centered along the coast of the island of Sulawesi about 50 miles north of Palu and soon afterwards waves as high as 18 feet crashed ashore in the city, destroying buildings, smashing vehicles and killing hundreds of people. According to the Indonesian National Board of Disaster Management, the death toll has risen to 1,571. A medical team of 855 people is working in the affected areas. Rescuers are struggling with their mission of finding survivors buried under rubbles and debris as more than 70,000 homes were destroyed.
Six months to go before Brexit!
With March 29 as the deadline for Brexit to roll in, the British government is taking all sorts of measures for a smooth transition, for instance the government has appointed a minister to guarantee food supplies. Pharmaceutical companies are planning a six-week stockpile of lifesaving medications like insulin and considering flying planeloads of medicine into the country until imports resume. Media and global experts are speculating for the past two years, what this could mean for ordinary Britons especially, with the threat of major new trade restrictions closing in.
PepsiCo’s largest acquisition in 8 years
PepsiCo Inc. will buy SodaStream International Ltd., an Israeli company for $3.2 billion in the latest attempt by a major soft-drink maker to harness demand for at-home drink systems to offset a slowdown in soda. This would be PepsiCo’s largest acquisition in eight years. Soft-drink producers have been trying to tap the at-home market amidst a gradual decline in soda consumption and environmental concern. However, success of such a move has been elusive, so far.
Sustainable farming in Mozambique
At Mozambique’s Mount Gorongosa, farmers are being encouraged to grow coffee in the shades of hardwood, such as bananas, pineapples, etc., that is planted for every 2.5 acres of coffee cultivation so as to provide shade to the crop for it to thrive. A sustainable mosaic of cultivation and natural forest is envisioned, as the falling foliages from the hardwood cultivation provides fertilizer for the coffee plantation. Designed to help hundreds of families in and around Mount Gorongosa, the coffee project is supported by Carr's foundation, the Norwegian government and the Global Environment Facility, a group of 183 countries, international institutions and other entities. The annual budget is expected to expand to between $1 million and $2 million.
A sponge for urban waste
Researchers from University of Seville in Spain evaluated two types of phyllosilicates that can help soak up pollutants found in urban waste water in less than 24 hours. Phyllosilicates are a subclass of silicates and include common mineral in very different environments. The results show that the material C18-Mica-4 is capable of eliminating the majority of pollutants that were evaluated in urban waste water, as well as surface water and potable water. The study also provides data on the adsorption mechanism and establishes a significant correlation between the physical chemical properties of the selected criteria and emerging pollutants and the adsorption to the material.
Throwing antibiotics in garbage is giving rise to superbugs?
The general habit of throwing unused or expired antibiotics, painkillers and other medicines in garbage is giving rise to infections and superbugs in India that are hard to cure. All India Institute of Medical Sciences (AIIMS) scientists conducted a study that found that large quantities of medicines are flowing into river, giving rise to superbugs that most antibiotics cannot kill. The drugs are coming back into the food chain through milk, vegetables and other agricultural produce.
Wipro has a multi-year contract with Falck
The Bengaluru-headquartered software services exporter, Wipro has bagged a multi-year business process services and finance transformation contract from Denmark-based Falck. So, as part of the contract, Wipro would help transform Falck’s finance operations and establish a scalable and efficient finance operating model. Falck is an international supplier of ambulance services, employee health care and roadside assistance. Wipro, has been present in the Nordic region for more than a decade and works with customers across the healthcare, manufacturing, energy, natural resources, utilities, financial services, telecom and retail industry verticals. With this contract it would leverage its proprietary digital simplification platform and expertise in robotics process automation and cognitive intelligence.
Autonomy on its way for IIM
Followed by months of discussion the premier business schools, IIMs have finally got the go-ahead to become autonomous. The rules for implementing the IIM Act, 2017, are likely to be notified this month, unambiguously affirming the autonomy of the premier business schools. The IIM rules will follow the complete autonomy template pitched by the PMO with the government staying away from key roles on selection and removal of the chairperson and director, fee regulation, student intake, institute expansion and any other overriding powers that the HRD ministry has mostly retained over other institutes.
RIL the most valued firm in India
Reliance Industries Ltd (RIL) has surpassed India’s biggest software services firm Tata Consultancy Services Ltd (TCS) to become the country’s most valued firm in terms of market capitalisation—a first since April. Data from the BSE showed RIL has a market cap of ₹ 7.46 trillion, after its shares rose 2.4% on the BSE to record high of ₹ 1177.80. TCS, at ₹ 1930 per share, was valued at ₹ 7.39 trillion.
Alexa gets smarter
Users of Amazon’s digital assistant, Alexa can now teach the app local Indian languages such as, Hindi, Bengali and Marathi.  The e-commerce giant announced this new skill aimed at improving Alexa's speech recognition. At present, Alexa engages with users in English like its competitors such as Apple’s Siri and Google Assistant. Amazon said the process of creating new languages for Alexa benefits from advances in data availability, computing power, and a subset of artificial intelligence called machine learning. Cleo has been built by a team of linguists and data scientists and has already helped improve Alexa's understanding of languages such as French.
A decline in social media users
There has been a drop in the appetite for signing up for social media services among people in recent times.  Snap, the maker of the Snapchat app, said it lost three million daily active users in the second quarter from earlier this year. It was the first time since the company went public in early 2017 that it had reported a decline in users and may be hitting a wall to adding new users. The trend looks the same for Facebook and Twitter as well. Facebook revealed late last month that its number of users in the United States was flat from earlier this year and that its users in Europe had fallen over the same period, even though its total number of members had grown. And Twitter, which has struggled for years to increase interest in its platform, also said in late July that its monthly active users had decreased by one million from earlier this year.