Seven new IIMs in India by 2011
B K Upmanyu
Fri, Aug 28, 2009 17:21:14 IST
THE COUNTRY’S three youngest states - Jharkhand, Chhattisgarh and Uttarakhand, along with four others, Tamil Nadu, Haryana, Jammu & Kashmir and Rajasthan, will get their branches of the prestigious Indian Institutes of Management (IIM) during the period 2009-2011.
The Cabinet has approved a proposal for setting up 7 new IIMs, taking the total number of the premier management school to 14. India already has seven functional IIMs in Ahmedabad, Bangalore, Kolkata, Lucknow, Indore, Kozhikode and Shillong.
In yet another development that would benefit five lakh students belonging to economically weaker sections with an annual income limit of Rs 4.5 lakh, the Cabinet on Economic Affairs (CCEA) approved a scheme to provide full interest subsidy during the period of moratorium on loans taken by them for pursuing approved technical and professional courses.
While the scheme will be applicable from the current academic year 2009-2010 itself, the Government will bear the interest payable by the student during his/her entire course period, plus one year or six months after he/she gets a job (moratorium period), whichever is earlier. Once the moratorium period is over, the student will have to pay the interest on the outstanding loan amount. The number of loans, as on March 31, 2009, was 16 lakhs and the total outstanding amount Rs 24,000 crore.
HRD Minister Kapil Sibal said both the establishment of seven IIMs and the interest subsidy scheme were part of his 100-day agenda and that he kept the promises he made.
In the first phase, four IIMs at Tiruchirappalli, Ranchi, Raipur and Rohtak will be set up in 2009-10, to become functional from the 2010-11 academic session. The remaining three in J&K, Uttarakhand and Rajasthan, where the locations are yet to be decided, will be set up in the second phase in 2010-11. Though postgraduate programme in management will be the flagship programme, several executive programmes focusing on civic and municipal services will be started in the first year.
In all, an amount of Rs 1,057 crore would be required for the establishment of the seven new IIMs during the XI Plan and wherein admissions will be through the Common Admission Test (CAT). Phase-I will have an intake of 140 students in the PGP course and which will reach 560 students by the end of phase-II.
Return of good times? Top business schools start receiving PPOs
Major companies like Hindustan Unilever, Aditya Birla Group, L&T, Godrej & Boyce, Deloitte Touche Tohmatsu extend pre-placement offers
The last MBA placement season at business schools in India was eclipsed by the global downturn, but the sun is smiling bright now with PPOs pouring in at top business schools! After IIMs, XLRI, and We School reported excellent PPOs (pre-placement offers) from major corporate houses, students have heaved a sigh of relief.
“Until now, majority of the PPOs have come from the consulting sector along with a few from Banking and FMCG sectors,” Professor Jose, Chairperson- Placement at IIM Bangalore said, while talking to MBAUniverse.com. Other than IIM Bangalore, IIM Indore and IIM Calcutta students also received good PPO offers. Speaking to MBAUniverse.com, IIM Calcutta said, “Although the exact number of PPOs is not available, we can confirm that until now we have got PPOs from most sectors like Investment Banking, Marketing and Consulting. IIM Calcutta had the best summer placements across all IIMs and is hoping to maintain the same.”
XLRI School of Business and Human Resources, too, reported excellent PPOs and pre-placement interviews this year. Almost 10% of the batch of 2008-10 has already been placed. The prominent organizations offering PPOs to XLRI students include FMCG major Hindustan Unilever and General Management companies like TAS and Aditya Birla Group, L&T, Times Group and WNS among others. Fr. E Abraham, S.J., XLRI Director said, “We are expecting more offers from Financial and Consulting sectors in addition to the ones offered during the months of August and September ’09 as most hiring decisions are finalized during the second quarter.”
Mumbai-based We School has received a number of PPOs too. We School said, “This year seven We School students have received PPO offers until now and more offers are expected.” According to We School, their students have received PPOs from companies like Networth Stock Broking Ltd., Godrej & Boyce and Deloitte Touche Tohmatsu.
And, this is just the beginning! PPOs generally start pouring in at top business schools from September, which is usually two-three months after the completion of summer project. PPOs keep coming in until the beginning of the final placement season. At IIMs, however, there is no fixed time frame. IIM Bangalore said, “The declaration of the PPO results can happen anytime from the end of the Summer Internship (June) till the starting of the Final Placements (March of following year). Different companies have different work calendars. From our past experience we have seen that most companies come out with their results in September-October.”
Directors at top business schools in India feel PPOs are a sign of the good times ahead. XLRI Director said, “With improved signs of recovery in the economy, students are hopeful of better placements and internships.” On the prospective of final placements, Prof. Jose said, “While we would not like to speculate about anything at this moment in time we continue to be optimistic in our outlook given the positive trends being observed in the economy of late.”
We School said, “The economic scenario has not changed drastically, although we can see the markets recovering gradually. Hence we believe companies will continue being selective about campuses and students and look for that extra bit the student can bring into the organization.” While packages may still not go back to what they were a year ago, 2010 will definitely see a better placement season.
MBAUniverse.com News Bureau Aug 18, 2009.
A Tool to understand Graphs
I found these mathopenref tools extremely helpful in understanding graphs:
1. Linear Equations: http://www.mathopenref.com/linearexplorer.html
2. Quadratic Equations: http://www.mathopenref.com/quadraticexplorer.html
3. Cubic Equations: http://www.mathopenref.com/cubicexplorer.html
Things to do: Change the variable values with the help of the sliders and see the change in the shape of the curve.
For instance, in a quadratic equation y=ax^2+bx+c:
- changing c moves it up and down
- changing b changes the slope
- changing a alters the curvature of the parabolic element
Enjoy!
Good times are back: Job offers flood IIMs
Good times are back: Job offers flood IIMs
BANGALORE: The green shoots are springing up and they're becoming visible at the Indian Institutes of Management, bringing some hope that the economy is looking up.
Pre-placement offers (job offers which come to students before the final placements) have begun to pour in for the graduating class of 2010. The IIMs are seeing a positive response from all sectors.
At IIM-Bangalore, consulting firms, which participated in the summer placement last year have announced their PPO results and all students received PPOs. "IIM-Bangalore is the only IIM with a 100% success rate till now. While this speak highly about the institution as a brand, credit must be given to students and their calibre too. The success rate is actually better than last year's," Vineet Sharma, placement representative, IIM-B, told TOI.
Last year, 12 consulting firms participated in these process. Some of the firms were McKinsey & Co, Boston Consulting Group, Bain & Co. Also, consulting majors Alvarez & Marsal and Result recruited students for the first time.
This year, the positions offered vary a fair bit. "But, it's on a par with an entry-level MBA position across the world," Sharma said. Last year, 120 companies confirmed their participation for the 270 students.
During last year's summer placements at IIMB, overall 24% of the batch accepted a position in a consulting career, known for its demand for multi-functional skills and cutting across finance, strategy and marketing. Other sectors which saw a significant number of offers included finance (21%), investment banking (20%), marketing (13%) and general management (13%). Consulting firms like McKinsey & Co., Boston Consulting Group and Bain & Co. recruited the highest number of interns from IIM-B. Interestingly, students have also bagged 2-3 international offers.
IIM-Calcutta students too are happy as they've got offers from across sectors, including FMCGs. Though IIM-C refused to give the number of offers made, it said the offers are a positive sign for students, especially during this recession. Students here bagged offers from the finance sectors and international ones.
The IIM-C didn't rule out the possibility of more than 10 overseas offers. Paul Savio, external relations secretary, IIM-C told TOI that some banks have put off the PPOs till September. "Earlier, we'd get the offers during May-June from some firms. One reason could be that banks want to see if the markets are doing better and hire people, if required. However, we're only some of the few lucky IIMs to get offers from the finance sector," he added.
Indian Institute of Management-Indore (IIM-I) started to receive PPOs from mid-June. With 240 students in the 2008-10 class, PPOs are more from for the marketing and finance sectors. "We're constantly in touch with firms and received a positive response," sources at placement committee, IIM-I said. He said PPOs would pick up later this year. "However, it's better compared to last year's," he added.
Shruthi Balakrishna, TNN 17 July 2009, 04:46am IST
Source: The Times Of India.
IIFT Exam Notification
IIFT Exam Notification:
Here are some of the important dates
Last Date for Sale of Prospectus by post for IIFT MBA 2010 - 2012: 20th August 2009
Last date for Sale of Prospectus across the counter at IIFT : 3rd September 2009
Last Date for Receipt of completed Applications for IIFT MBA 2010 - 2012: 3rd September 2009
Written Test for IIFT MBA 2010 - 2012 : 22nd November 2009 (10 a.m - 12 noon)
A Classic River Crossing Game...
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