ifmr digest

IFMR DIGEST Skilling India Towards a robust qualification framework for Training Programs Women’s Reservation Bill Evidence for Leadership & aspirationsCover StoryIT’S BEEN 10 YEARS BUTSOME THINGS ARE YETTO CHANGE Issue 3 , February 22

Page 2 Cover Story 8 Expert Insight - Women’s Reservation Bill Evidence for leadership and aspirations 12 Expert Insight - Skilling India - Towards a robust qualificaiton framework for training programs 22 Student Article - The Internet of Things 27 Food for Thought 29 Fun Spot 31 Accolades 32 Happenings @ IFMR

Editor’s DeskHello Everyone,There lies a moment of reflection ascribed to the end of everycycle. It sieves out the grains of sensation and portrays a de-tailed testimony of progression. While our compass still tiltstoward aspiration, our coffers of knowledge, experience andexposure accumulate. Encompassing all these we are glad topresent the IFMR DIGEST February issue.“Either write something worth reading or do somethingworth writing.”- Benjamin Franklin. The happenings andinsightful articles aided us to efface the choices given by thefounding father of United States. This depicts the boundlessenthusiasm and intellectual competency that shaped the coreof our culture.We the “Editorial & Communication team” believe that withevery turn of page you will get a fresh stream of thoughts thatwill indeed nourish, polish and garnish all your humanqualities.Happy Reading! 1

v Cover Story IT’S BEEN 10 YEARS BUT SOME THINGS ARE YET TO CHANGE 2

Ten years have passed since the If any, the GFC and the ensu- ing global recession, showed2007-2009 global financial crisis the world that financial markets(GFC) that originated as a shock when left unregulated or unmon-in the subprime markets in US itored, do spin out of control andand slowly transformed into the when they do so, the consequenc-greatest recession that the west- es are unpalatable and scary.ern world had ever witnessedsince the great depression. The Unprecedented fiscal and regu-initial months of the onset of GFC latory measures were undertak-are notable for the blame game en by governments and centralthat ensued when it comes to the banks across the world to dealinstitutions and the individuals with the GFC. So much so thatthat were directly or indirectly fiscal and monetary policies sinceresponsible for nurturing an eco- the onset of the GFC were largelysystem that paved way for GFC. based on the governments’ andIt was also a slap in the face for regulators’ evolving judgmentthose who professed light-touch on how best to tackle the GFC.regulation for they believed on Western governments and theirmarket’s ability to collectively respective central banks under-take care of itself owing to the in- took all actions within and be-herent self-interest of the day-to- yond their capacity to resuscitateday market participants. and revive their economies from the debilitating effect of the GFC.3

Governments pertaining to the in particular assess the effect ofemerging economies and their re- GFC on the curriculum centeredspective central banks were con- on Financial Markets. While thestantly keeping tab on the events GFC has pushed fiscal and mone-unfolding in the western world tary policies towards uncharteredand were basing their actions on territories and has brought-abouttheir assessment of the extent of a semblance of global regulatoryintegration of their financial sys- coordination that was unfathom-tem with the western financial able in the years before the GFC,system and the attendant possi- the effect of GFC on shaping thebility of untoward spillover ef- pedagogy centered on Financialfects of unprecedented monetary Markets has been rather ordi-and fiscal measures of western nary. This is not to say that theeconomies on the emerging fi- GFC did not push academiciansnancial markets. and practitioners to revisit theirToday, as the governments, regu- perspectives on markets in gen-lators and industry practitioners eral and financial stability inlook back on the events that un- particular.folded during the GFC and theconsequent actions undertak-en to deal with GFC at differentpoints of time, it is also necessary 4

Innumerable conferences are be- One of the catalysts behind theing held across the globe where global crisis was the widespreadacademicians, practitioners and use of well-established conven-policymakers alike regularly tional models whose underlyingshowcase research that throws assumptions failed to truly cap-light on the above aspects at dif- ture the real-world characteris-ferent levels of granularity. GFC tics of asset prices. In addition,and the consequent global reces- the industry per se was consis-sion forced key decision mak- tently way ahead of the regulatorsers in financial services industry when it comes to the complexityacross the world to appreciate of the models being employed tothe need for robust risk manage- price higher order opaque syn-ment practices and an appropri- thetic derivatives that misrepre-ate incentive mechanism that re- sented the economic value of theinforces robust risk management. underlying reference assets. InHowever the cumulative effect of retrospect, the single most im-all these broader happenings on portant contribution of the GFCthe trajectory of curriculum cen- is the much-needed (albeit late)tered on Financial Markets has realization amongst one and allbeen rather mediocre. about the limitations of such conventional models when it comes to capturing tail risk. 5

While the world is flush with If only the mainstream financemore research on new impro- journals would be more recep-visations of these conventional tive to scholarly contributionsmodels so as to accommodate for that possess theoretical anteced-hitherto-neglected aspects that ents that run contrary to conven-paved way for the GFC, what is tional econometric models, theevident is inertia by the broader literature on financial markets inintelligentsia to move away from general and market efficiency inthese conventional models that particular would be less-mono-fail to reflect the true dynamics chromatic in nature, and theof asset prices to other non-con- students of tomorrow would beventional models that are more wiser.reflective of empirical distribu-tion of asset prices. This lack of heterogeneity in re- search on financial markets isScholarly contributions that re- synonymous to someone so fixat-visit the inefficiency and fragility ed on guarding the boundaries ofof financial markets over time us- the island that she resides in thating non-conventional methodol- she turns oblivious to the beautyogies that are grounded in natu- and the breadth of the ocean thatral sciences hardly make it to the engulfs the island.mainstream finance journals. Aswe all know, research publishedtoday in mainstream financejournals make their way into thefinance textbooks of tomorrowwhich in-turn has a profoundimpact on B-School pedagogycentered on financial markets.6

Dr. Vinodh Madhavan,Associate Professor – Finance & Accounting IFMR Sri City Note: The views expressed here by the author are personal in nature. 7

t Women’s The Women’s Reservation Bill Reservation in discussion over the last two Bill decades proposes to amend the constitution to reserve 33 per- Evidence for cent of all seats for women in Leadership & Lok Sabha and all state legis- aspirations lative assemblies. The bill, first introduced in 1996 in the Parlia- ment, was passed in Rajya Sabha in March 2010. But it faced stiff opposition in Lok Sabha and fi- nally lapsed in 2014. According to the Geneva-based Article by Inter-Parliamentary Union (IPU), globally India ranks at Arindam the bottom, 148th out of 193 UN Banerjee, member nations when it comes to the proportion of elected JPAL Southasia women representatives in par- liament. Even our neighbours, Pakistan (20.7 per cent),Bangla- India fares poorly globally and desh (19.3 per cent) and Nepal (29.9 per cent) have higher rep- regionally in representation of resentation of women in parlia- women in the legislative assem- ment. blies and houses of Parliament. Only 11.8 per cent (64 of 543 The 73rd Amendment to the members) of our elected rep- Constitution of India in 1992 resentatives in the current Lok mandated 33 per cent reserva- Sabha are women and the Rajya tion for women in the three-ti- Sabha has only 11 per cent elect- er Panchayati Raj institutions. ed women representatives (27 In the next two decades, a few of 245 members). state governments extended the reservation to 50 percent of seats in Panchayats for Expert Insight 8

Expert Insight Photo by Loren Joseph on Unsplashwomen. However, debates have tatives may face in terms of ed-often arisen on the efficacy and ucation and prior experience,impact of this reservation to em- and the preconception of weakpower women and improve gov- leadership, women have a realernance. A common criticism impact on policy decisions. Ev-raised is that women do not have idence from both these studiesreal power at the local level and also point that elected womenoften act on behalf of a male deci- Panchayat pradhans were moresion maker. inclined towards giving higher priority than their male counter-Evidence from a study by J-PAL parts to issues concerning wom-affiliated researchers in West Ben- en such as public health, drink-gal in 2008 showed that female ing water, sanitation, educationleaders raised the aspirations and roads.parents have for their girls andthe aspirations teenage girls have A 2007 UNICEF backgroundfor themselves. A similar study paper co-authored by J-PAL af-by J-PAL affiliated researchers filiates elaborates on how thein Rajasthan found that despite presence of a woman panchayatthe handicaps women represen- pradhan is likely to ensure more 9

women participating in dis- Inspite of wide speculationscussions during the gram and demands from womensabhas in the reserved Gram groups and the main opposi-Panchayats. Results from tion party Congress, the rul-both Rajasthan and West Ben- ing NDA led government didgal showed that the presence not table Women’s reservationof a female elected leader bill in the recently concludedalso reduced the gender gap winter session. A strong polit-in adolescent educational at- ical commitment by all majortainment and resulted in girls national and regional partiesspending less time on house- along with robust scientifichold chores. evidence should inform the deliberations and debates for ensuring the passage of wom-Expert Insight 10

Expert Insighten’s reservation bill in any of for ensuring the passage ofthe forthcoming sessions women’s reservation bill inof the Parliament. If passed, any of the forthcoming it will act as a nudge to pave sessions of the Parliament. Ifway for nearly 180 elect- passed, it will act as a nudgeed women members in Lok to pave way for n e a r l ySabha to shape India’s future 180 elected women mem-legislations and policies. In- bers in Lok Sabha to shapespite of wide speculations India’s future legislations andand demands from women policies.groups and the main oppo-sition party Congress, theruling NDA led governmentdid not table theWomen’s reservation bill inthe recently concluded win-ter session. A strong political com-mitment by all major na-tional and regional partiesalong with robust scientificevidence should inform thedeliberations and debatesAuthored by:Arindam currently works at J-PAL in the area of publicpolicy. His core interests lie in Programme management andpolicy outreach, Policy research, conflict analysis, Livelihoodand sports for development. He has been associated withAdam Smith International, and finished his masters degree atthe University of Oxford 11

Skilling India : Towards a robust qualification framework for Training Programs Article by Pratibha Joshi Research Fellow IFMR LEADExpert Insight 12

Expert InsightThe Government of India hassharpened its focus on ensuringtoday’s youth acquire necessaryskills to participate in the labourforce. As of June 2017, skills train-ing programs under the Ministryof Skill Development and Entre-preneurship (MSDE) have trained1.17 crore candidates under theSkill India initiative (MSDE). However, beyond skilling, can-didates also face a challenge infinding jobs where they can puttheir newly acquired skills touse. Since 2016, Pradhan Man-tri Kaushal Vikas Yojana ( P M -KVY2) had placed a little over12% (95,772 candidates) of the7.84 lakh trained candidates as ofOctober 2017 (PMKVY). The gov-ernment has undertaken big pushefforts to buildtechnical capabilities and workcapacities in theburgeoning workforce. 13

But are we able togauge and differentiatebetween the skills ourworkforce is acquiring?Are we able to mapskills acquired to theskill requirement ofoccupations?Expert Insight 14

Expert InsightThis article examines existing The MSDE’s National Skills Qual-options for understanding skill ification Framework (NSQF) of-components of training cours- fers a practical framework thates and their shortcomings, and lists various levels of skills quali-proposes some alternatives. fications. The competency-basedThere is a need to ensure that framework organises all qualifica-we create a method for catego- tions according to a series of levelsrizing the skill components of of knowledge, skills and aptitude.jobs and training courses. This is akin to the standards of the education system where studentsWhat are some ways can acquire greater capabilitiesto quantify the skills through every additional year ofour people are schooling (e.g. completing class 8,acquiring? class 9, etc). NSQF levels allow for ranking of skilling courses from levels 1 to 10. As 80% of the skills training cours- es are for NSQF levels 3 - 5 (see Table 1), it is expected that a large number of candidates would end up being trained at these same lev- els. Furthermore there is no granu- lar classification of the NSQF that can be analysed to know if there are any differences in the skills and knowledge that trainees par- ticipating in different courses can acquire. 15

A second metric for measuring skills Chart 1 and Chart 2acquired by trainees, could be the demonstrate that mostnumber of National Occupational courses end up with anStandards (NOS), which tells us the average of 10-15 NOSnumber of tasks a person should have per QP. It is likely thatlearnt within a certain training course. some of these tasks areEvery training course comprises of a different in terms of theQualification Pack (QP) which con- capacities they focustains the number of NOS that the can- on; some could requiredidate should be taught and acquire greater soft skills, orabilities on. more technical skill - but right now, we can- not know the skill component that candidates acquire, beyond number of NOS, as the different skill components have not been classified and linked to the different NOS.Expert Insight 16

Data source: NSDC excel fileas of 8th June 2017

Finally, the number of hours the level of skills acquired byspent in training can also be candidates, and has implica-used as a proxy to benchmark tions for planning and imple-skills obtained by trainees. menting programs that boostKeeping aside concerns with human capital in India. A pre-using hours as a proxy for liminary review of literatureskills learnt, and exploring on the subject presents somethe possibility of using this as interesting alternatives. Fora measure - we find that the instance,number of hours that have Balasubramanian (2016) esti-been assigned to the various mates skill component of oc-courses do not show a clear cupations by mapping jobs inupward trend (see Chart 3). India to the Occupational In-This means that for increasing formation Network (O*NET)numbers of NOS, additional framework created and usedhours that intuitively maybe by USA for classifying knowl-required for acquiring such edge, skills and abilities re-capabilities do not seem to be quired for a job. Apart figuringthe case. Hence correlation be- ways to develop a frameworktween hours spent on a QP (to similar to O*NET for India,acquire the mandated NOS) is we can also consider creatingbroken. a task-framework a la Autor, Levy, Murnane (2003) to clas-To sum up, metrics presently sify core task requirementsavailable are not adequate to such as: cognitive, non-cogni-provide quantitative informa- tive, repetitive, non-repetitivetion on the skill component components of various skillingof jobs and training courses courses. These task require-in India. This leaves us with- ments can be derived fromout a clear understanding of curriculum available for everyExpert Insight 18

QP. This exercise can provide them to skills to estimate theestimates of the relative use of effects of automation anddifferent cognitive and phys- by understanding the skillical skills in different tasks. It component of jobs andwill also facilitate identifyingjobs and sectors that face fast-er technological changes thataffect labour markets. Autorand Acemoglu (2011) buildon the task-framework forclassifying jobs and mapping 19

assuming that repetitive or As considerable public re-non-cognitive aspects could sources are being spent onbe automated first, thereby skilling programs in India, itproviding information on is important to build a deeperwhat jobs and sectors might understanding of their link-require government interven- ages with labour markets,tion for easing some and the expected interplaylabour market frictions caused with technological changesby technological changes. in different sectors. Having a well-classified framework ofBetter data and classifications the different skill componentsfor analysis can help unearth of courses and their equivalentimportant gaps in our efforts jobs, can significantly augmentto upskill the Indian labour our present understanding offorce. For instance, Chart 1 the potential of skills training courses, human capital devel-showed that on average our opment, and explore the pos-training courses cover 10-15 sibilities of automation acrosstasks, which pales in compar- sectors and functions.ison to global averages of 30tasks per course, thus raisingquestions on how Skill Indiacan train workforce that canmeet global labour require-ments. 20

Authored By:Pratibha wants to play a meaningful rolein the development of the SME sector,presently she has set her focus on India.She is interested in understanding smallbusinesses and entrepreneurs – whatleads to their success, their life-cycle andcontribution to the economy. She hascompleted her Masters in Public Admin-istration and International Developmentfrom Harvard Kennedy School, and undergrad studies in Singapore. 21

“If you think that Internet has changed your life, think again. TheIoT is about to change it all over again!” – Brendan O’BrienTechnology and Innovation is more are connected to eachtranscending all the barriers. other and share informationInternet as we all know is a among themselves.global network where peopleacross the globe can share in- HOW DOES THIS IMPACTformation among themselves YOU?in just one click. But what is‘INTERNET OF THINGS’, Now the next thing poppingI know most of you haven’t in your minds would be ques-heard of this term and will use tions like why on earth wouldtheir knowledge of etymology you want so many connectedto decrypt it to be something devices talking to each oth-related to the internet. But you er what help will it do to us?need to stroke your brain hard- Imagine yourself driving yourer, because it isn’t only about car to the garage and the shedthe internet, rather, it is a net- opens automatically. Andwork where various physical what if your alarm clock wakesdevices, appliances and much you up at 6 in the morning and then notifies your coffee mak- Student Article 2e2r to start brewing your coffee

for you? Do you know how it Student Articleis done, Yes! You are in correctline of thought that is the In- APPLICATIONSternet of Things (IoT). Other IoT has become so commonapplications are smartphone that we don’t even realize thatcontrolled refrigerator, air pu- which appliance may be usingrifiers, in-house lighting sys- this principle, that is why it istem and countless others that said, its beautify can never beare a part of our daily life. quantified. Few of the applica- tions are explained as followsHISTORY SMART HOME“Internet of Things”, coined Gone are the days when weby Mr. Kevin Ashton was first used to control the lightingapplied in 1982 on a modified and other electronic devicesCoke machine at Pittsburgh manually. Now everything iswhich was able to report its a touch away, you can controlinventory and whether newly each of them leaning on yourloaded drinks were cold. The couch remotely through yourfuel to this idea came in 1999, smartphone and the answer tothrough the Auto-ID Center at that is Smart Home.MIT. Radio-frequency identi-fication (RFID) was identified Gone are the days when weby Mt. Ashton as indispens- used to control the lightingable for IoT to happen. Apart and other electronic devicesfrom using RFID the marking manually. Now everything isof things may be achieved via a touch away, you can controlsimilar technologies such as each of them leaning on yourQR codes and couch remotely through yourbarcodes as well as digital smartphone and the answer towatermarking. that is Smart Home.23

Most of the products are avail- the sector where the mostable in one of the four proto- industrial IoT (IIoT) projectscols (medium of communica- are realized and investmentstion between them) and all of are made. But what exactly isthem are compatible with the this ‘Smart Manufacturing’? Ininternet and the smartphones. B-school language, it is the useThese are X10, Z-Wave, UPB of smart devices to improveand EnOcean. Products and the operating efficiency of ahardware having same pro- manufacturing layout.tocol can be added by home-owners at their own will and In a smart factory every equip-pocket’s strength. ment is connected. Since man- ufacturers are aware of assetSMART MANUFACTURING health and remaining useful life of the assets, they can op-With the dawn of the fourth in- timize different stages of thedustrial revolution (Industry production process. Condi-4.0) and digital transformation tional monitoring poweredof technology, the manufac- with analytics can help relateturing industry becomes current and historical data to anticipate equipment fail- Student Article ure. Maintenance work can be 24

scheduled in advance which Student Articlecan reduce unexpected downtime as well as the costs associ- called AutoLib can be trackedated with urgent orders of re- through GPS and also enablesplacement parts and workers the driver to reserve parkingat short notice. space any anywhere in the city. There are some smartphonesTRANSPORTATION applications like GasBuddy in Australia which helps the driv-Do you remember the scene in er locate the cheapest gasolinethe movie – Die Hard 4, where station.the protagonist talks to 911 andgets the operator to start the HEALTHCAREvehicle stating an emergencysituation. Isn’t it amazing how Health Monitorstechnology has evolved by These devices help the users tonow? Actually it has all been extract information like bloodpossible due to IoT. pressure, heart rate etc. while on the go. These are generallyNetworked transportation in- used by daily users who keepsdicates fitting vehicles with a check on their health once asensors and Internet connec- while. Some of them are – Fit-tivity during the transit. He bit, Muse headband, Viatommost recent example is from Checkme etc.Paris where an electric cardsharing program

Medical Wearables Article written byMedical wearables help doc-tors and nurses monitor pa- Kumar Saharshtient’s data and inject timely Batch 18drug into their body. Some ofthe most common wearablesare – Portable Insulin Pumps,Smart glasses and many more.Internally embedded medicaldevicesThese devices are embeddedinside the patient’s body andit helps in transmitting infor-mation wirelessly. They doit either using their protocols(discussed earlier) or by Blue-tooth. The most common de-vices which we come across isPacemakers and Digital Pill.Stationary medical devicesThese devices provide a costand time effective way to mon-itor chronically ill patients.They are also the most targetedgroup by thieves to steal massamount of patient’s data. Fewexamples are – ChemotherapyDispensing Stations, beds thatcould detect when occupied. 26

food for thoughtPotatoes, Eggs, and Coffee BeansOnce upon a time a daughter After twenty minutes hecomplained to her father that turned off the burners. Heher life was miserable and that took the potatoes out of theshe didn’t know how she was pot and placed them in agoing to make it. She was tired bowl. He pulled the eggs outof fighting and struggling all and placed them in a bowl.the time. It seemed just as one He then ladled the coffee outproblem was solved, another and placed it in a cup. Turn-one soon followed. ing to her he asked. “Daugh-Her father, a chef, took her to ter, what do you see?” “Po-the kitchen. He filled three pots tatoes, eggs, and coffee,” shewith water and placed each on a hastily replied.high fire. Once the three pots be- “Look closer,” he said, “andgan to boil, he placed potatoes in touch the potatoes.” She didone pot, eggs in the second pot, and noted that they were soft.and ground coffee beans in the He then asked her to take anthird pot. He then let them sit egg and break it. After pull-and boil, without saying a word ing off the shell, she observedto his daughter.The daughter, the hard-boiled egg. Finally,moaned and impatiently wait- he asked her to sip the cof-ed, wondering what he was fee. Its rich aroma brought adoing. smile to her face.27

“Father, what does this mean?” water, they changed the wa-she asked. ter and created somethingHe then explained that the new.potatoes, the eggs and coffeebeans had each faced the same “Which are you,” he askedadversity– the boiling water. his daughter. “When adver-However, each one reacted dif- sity knocks on your door,ferently. how do you respond? AreThe potato went in strong, you a potato, an egg, or ahard, and unrelenting, but in coffee bean? “boiling water, it became soft Moral: In life, things happenand weak. around us, things happen toThe egg was fragile, with the us, but the only thing thatthin outer shell protecting its truly matters is what hap-liquid interior until it was put pens within us.in the boiling water. Then the Which one are you?inside of the egg became hard.However, the ground coffee Source:beans were unique. After they https://www.livin3.comwere exposed to the boiling 28

Hot ShotA young businessman had just The man said, “Yeah, I’ve comestarted his own firm. He rent- to activate your phone lines.”ed a beautiful office and had itfurnished with antiques. Sitting Employee Motivationthere, he saw a man come intothe outer office. Hoping to look The owner of a company tellslike a hot shot, the businessman his employees:picked up the phone and started “You worked very hard thisto pretend he was working on year, therefore the company’sa big, important business deal. 29

profits increased moving and haulingdramatically. As a reward, I stuff.”‘m giving everyone a check “We’re short-handed,” thefor $5,000.” boss replies. “I can’t giveThrilled, the employees gath- you the day off.”er round and high five one an- “Thanks, boss,” says the em-other. ployee “I knew I could count“And if you work with the on you!”same zeal next year, I’ll signthose checks!”Day OffAn employee goes to see his su-pervisor in the front office.“Boss,” he says, “we’re doingsome heavy house-cleaning athome tomorrow,and my wife needs me to helpwith the attic and the garage, 30 Source: https://albertaventure.com/

AccoladesSOUTH ASIAN QUALITY ASSURANCE SYSTEM (SAQS)Institute for Financial Management & Research (IFMR), Sri city,India has been accredited by SAQS (South Asian Quality AssuranceSystem) for a period of five years from 14th December 2017. SAQSis an international system of strategic audit and accreditation de-signed for the assessment of Institution in widely differentnational contexts. It is a globally benchmarked system for Mento-ring, Quality Improvement, Quality Assurance and Accreditation.SAQS accreditation is awarded by The Association of ManagementDevelopment Institutions in South Asia (AMDISA), aninternational not-for-profit association, and is a “SAARCRecognized Body 31

Happenings @ IFMR Success Mantra with Alcatraz Dey Motivation is a hoax, it’s the inner desire that matters. You need to accept, adjust and act on your desire. The words of Alcatraz Dey, charged the students of IFMR with boundless energy and ovpti- mism. The life of the thriller writer is in itself a potboiler. During the interactive ses- sions he shared his visions and insights about life. The event was a spinoff from routine lifestyle of an IFMR student, but it supplied the necessary recoil force to push harder. Event organized by Markoholic32 -The marketing committee

Brand Master by Amandeep Singh“Next time you watch an advertisement, ask yourself what wasthe business problem.” This was the message from Brand MasterAmandeep Singh, Alumnus of IFMR in his guest lecture at his almamater. He explained in detail about one of his successful project,the viral “BIBA” ad campaign, the campaign is internationallyacclaimed. During his interaction he mentioned about change inconventional marketing, Digital marketing and its pros and cons.MNCs’ are erasing the demarcation between online and offlinemarket place while it redefines market it also points to some keyareas where future marketers should focus. While talking abouthis journey this far he said “You have to break the barriers be-tween various departments”. A holistic idea about managementis necessary for managers.Event organized by Alcom & 33Markaholic -Alumni & Marketing committees

HR - Connect : Campus to Corporate On 28th of December 2017, the external relations committee of IFMR has organised a guest lecture inviting Mr. Ravikumar KY, an alum- nus of NIT Trichy currently working at Nagarjuna Oil Corp as HR Head. The theme of the event was HR connect – Campus to Cor- porate. The idea behind the theme was to give a brief vision to the students about the contemporary role of HRM across various in- dustries. It was an interactive session were the speaker answered to specific questions asked by the students. The speaker stated that taRhgeeemrpoelunetb.oTflhiHceRrDoHleeaahydas-isbMencooamlokenegmeroinrceodnInfyinndaemdiaitcoMojuvesatrretahmetphyleooayrneseamndani-t has started incorporating other functions of business as well. With ntibBtomefwcKeHIuTiisahannFvleneaunhmukcaoaeMseetnectiettsidnuirnqhoroonshtRmypaeRriudtelhtfgeseelidn.oeieianeiatvgmnspgdwhipobtsgoInpoodehlettfuooaleais1ulxfeutvnwarbturrsic0pvdthsaesntyugeltewatheetidteeoKiercecriisnrnintrodmyhnidniwmpodtlgotefnnl.ksootatubnatohFbohfwhlpwtfryynctrrlieerlleuahouekooaoidoircctten.awtbgmnlgeomniehwavttn.rbCimlheewrieeoegtTyIistlbsdeershlbFayheashlryogiiedrMlrsenbtnettoeiaoaooieehkydrchfvntIuiRlrmirorseinFeouocIemotaetlwFMgadailseaSenoasvaMtMtneeraAostfsteroeRnadpedtoiirsHPRnfaeotdadlthacddrsdIgoflHwRaaIaashbos..ce2InttmmRteinyToHncho0hIufdrnlm.te1reopPaiediRwTsnws8itItnau.eprhtIcKeahiAneoInssmhapeesTdea.tnyitnnvarwndsoBgmworaoaireotmeueirshtlrtftnsiettyagesoihanthhewwtdta.hrdtalceareediisGsickneaecnbarttooulsosijrahittltopfzMm,lw.peefhrofeiaebtHalattcoahspiwyBdeyrbtoottpeddetrth.AenemiihdibetTetciscndsghahnreyisitoisihtsiaoptrenniprhemetgttetyiS6agegrhhmeinusnrd:niocece3esbghsiyoatpnteie0ioousaatefFfCamsldciirbdlaotalosaehiiieawrsanymtmoozlnadygsda5onaf--ninlttdaaehhgitnnohtaeoieddnnessf. to the candidates who successfully completed the run.29 Event organized by the External 34 Relations Committee of IFMR

Trade Mania Being a finance committee in one of the best and consistently ranked finance institute in the country naturally puts pressure on you to brainstorm and come up with innovative events. “Trade Mania” was one of such events conducted on 21st No- vember, 2017 organised by Arthasabha – The Finance Commit- tee of IFMR. Trade Mania was organized to simulate trading so that the participants can learn how trading works. Though the primary focus of the event was to demonstrate the art of trading in real world it also emphasized on the fundamental knowledge of capital markets amongst the participants. The 17 teams were given the task to analyse the news related to different stocks displayed through power-point slides. Based on the news displayed they had to predict the stock move- ments and accordingly take a decision whether to buy, sell or hold. Furthermore, they were also required to abide by var- ious rules and regulations. The news and stock price move- ments depicted in the event were the replica of actual market movements. Students who experienced trading environment for the first time were enthusiastic and overwhelmed. The par- ticipants wholeheartedly appreciated the event and further insisted that similar events should be organized with much more frequency. The committee was successful in making the event both educational as well as entertaining.35

t Event organized by Arthasabha - The Finance Committee of IFMR 36

Mr. Raghavendra, Head of Guest Lecture on DXC Technology’s Analytics Business Analytics Data Labs, delivered an in- sightful presentation as a guest Event organized by IFMR lecturer on 2nd November in Institute for Financial Man- agement and Research. The interactive session on Busi- ness Analytics consisted of both practical business usage of analytics as well as the con- cepts in the algorithm. Exam- ples hovered from banking to healthcare. He urged the stu- dents not to look at the subject as a separate field but as a tool that can improve the efficien- cy of any operation. “Analytics tools are available in the cloud nowadays, you don’t have to be a data scientist to gain use- ful information from data”-he mentioned while elaborating on the penetration of this technology.37

Panel Discussion on CryptocurrencyWe all live in a highly digitized world where everything fromphysical meetings to bank transactions have been digitised. Af-ter the cash transactions were digitised, it is no wonder that ourcurrency notes are getting replaced by digital currency. With thepace at which technology is growing and the reach it has in thisdigital world, crypto-currency came up as one of the inventionsthat amazed people. It is imperative that we understand the lat-est buzzword and stay relevant.It is in this regard that Alcom, the Alumni Committee of IFMRconducted a Panel Discussion on 21st January 2018 on “The fu-ture of Crypto-Currency and its impact on the Central Bank”.The panellists were Mr. Ravi Jain (Consultant - PKC Advisory),Mr. Sandeep Garg (Assistant VP of Regional CMS sales - IndusIndBank), Mr. Meher Shiva Tadepalli (Solution Advisor - Deloitte)and Mr. Jinesh Gulecha (Area Sales Manager - Crisil Ltd) and wasmoderated by Mr. Jyoti Prasad Mukhopadhyay, (Assistant Pro-fessor, Economics Area), Chairperson, Alumni Committee, IFMRThe discussion was a highly rewarding experience for the studentcommunity of IFMR with the panellists starting with the basicunderlying principle of how a crypto-currency works and how itgets its value from. The discussion was then on multiple fronts,with the panellists enlisting insightful info on how the world has 38

changed over the invention, much to the amazement of the audience. The panellists then addressed the queries of the student au- dience with the highest level of details possible, making them get cleared on their doubts and queries. Event organized by Alcom39 The Alumni Committee of IFMR

Lakshmi Bal MahotsavThe 10th edition of Lakshmi Bal MaThe 10th edition of Lakshmi Bal MaathIoFtsMavR (oLnBMth)ew7tahs oceflJeabnruataerdy 2018at IFMR on the 7th of January 201w8.aTshsetaLrtaekdshatmIFi MBaRl Minathheotyseaavr 2009was started at IFMR in the year 200m9 iinIytehrewmheomwoarys aofmlaetreitLoraikosuhs-studemi Iyer who was a meritorious studiennat natuIFnMfoRrt,uwnhatoepraosasdedacacwidaeynt. Thin an unfortunate road accident. TdheedIiFcMatRe afradtaeyrniintyredmeceimdebdratnoce ofdedicate a day in remembrance ofthLeaksesrhvmicieIyshere, wanads cfoanrrdy oofudt oingthe service she was fond of doingch-iladtrteenn.ding underprivileged This year Samarthan, the Scial Servchildren. tered NGO, carried out its functionThis year Samarthan, the Social SerTvhicies cylueabroLfBIFMMwR,aaslsboaaserdegoins- the ttered NGO, carried out its functionkoidf sarcraamngeifnrgomthetwwohcohleildevreennth. omeThis year LBM was based on the TthheemcheioldfrCenir,cwues,rewinhveriteeidn a2n0d0 werekids came from two children homeesxcfriotemd.TIAn DthAeiarnedyeSsu, liltuwrpaestaa. dayThe children, were invited and werTehseeyenwceorleouwrefulclolymderdesasneddaasnsdignedexcited. In their eyes, it was a daycaorfeoouftitnhgemantdheeenntetirrteaidnamy.enTth. ey wThey were welcomed and assignedtaaksetnudaetnotuvrooluf nthteeecrawmhpoutsogorkoundcare of them the entire day. They weedrebysetrhveedchbirledarkenfa,satlaonndg twheitnh thetaken a tour of the campus groundlist.tlSecoreneensihnagdtrfeuens pwlaeyreinpglagnatm- es sued by the children, along with thechdairier,ctloemr Monr.spPo.KonBirsawcea,sf.oTohtbeall anlittle ones had fun playing games such as jumping castle, musicalchair, lemon spoon race, football and volley ball. 40

ahotsav (LBM) was celebrated 8. The Lakshmi Bal Mahotsav 9 in the memory of late Laksh- ent at IFMR, who passed away he IFMR fraternity decided to f Lakshmi Iyer, and carry outg - attending underprivilegedvice club of IFMR, also a regis-n of arranging the whole event. theme of Circus, wherein 200es from TADA and Sullurpeta. e seen colourfully dressed and of outing and entertainment.d a student volunteer who tookwere served breakfast and thends. Screening trees were plant- director Mr. P.K Biswas. The uch as jumping castle, musical nd volley ball. 41

Fun games such as hoop in the loop, stacked cans were ar-ranged, along with key chains give away. A drawing competi-tion was held wherein the kids showcased their talents. Aftereating a sumptuous lunch, they were entertained with mime,dance and music. Apart from the performances planned forthem by the college’ Dance and Music clubs, the perform-ers among the kids grooved to the music and matched steps.They danced for peppy songs which they had come pre-pared with. They were given gifts for participation. Furtherthe posters of animals and cartoon characters were given tothe children.Samarthan came up with the initiative of awarding scholar-ship to the most meritorious student in the school which theyteach in the memory of Sourav Rakshit, an excellent studentwho passed away in an accident. It was offered to Ms. Arch-ana - studying at the local govt. school. The kids were giftedwith stationery, plates and water bottles for their everydayusage.The fingerprints of the children were taken as a memoir. Ev-eryone wished them luck and happiness for them to spreadtheir wings like a bird and take the best flight of life. Thus,the 10th edition of remembrance of our beloved alumni end-ed with fulfilment of societal contribution. 42

Event organized by Samarthan43 The social service committee of IFMR

44

Lohri IFMR has always taken proud in diversity of its students and the different colors of joy they bring together. In the month of January whole of North India gears up to celebrate Lohri and we at IFMR believe the same. Lohri is associated with bonfires and fami- ly bonding along with consumption of sugarcane products such as jaggery. Coming at the end of the winter season, it marks the last day of the month Paush. It is during this time that the farm fields gleam with wheat, the primary North Indian crop. Lohri is essentially a festival dedicated to fire and the sun god. The fire symbolizes the sun and is seen as a source of energy and spiritual strength. It is worshipped as a deity with food-offerings consisting of peanuts, popcorn, and sweets made of til-chirva, ga- jak and revri. The Event kicked off with ‘Lassi-wassi’ competition which was ba- sically a food race. Participants enjoyed the flavor of Punjab in lassi and stuffed paranthas. Adding to the fun, later in the evening a game of Tug-of-War was also arranged. On the eve of Lohri, bonfire was lit up and students danced around it glitzing and shimmering in traditional attires. Special dinner was organized by Food & Hostel committee and the whole event ended on a vibrant note with bhangra performance by Lohri committee in which students later joined in.45

InnovincEdge- The Consulting Club of IFMR always strive to brush upinnovative thinking and decision-making skills in our students.They organized a challenging event of two-liner case study withthe purpose of making student accustomed to situation theymight face at time of corporate interviews, which are mostlybased on real time case. First round of the event was designed ina way where participants were supposed to present their stanceon the situation in form of a verbal presentation/discussion; Sec-ond round was based on guesttimate questions where partici-pants were given two guestimmate questions and 15 minutes tosolve that. The main purpose of the guestimmate questions wasto check the thinkingprocess of the participants and how logical-ly they can proceed to solve a problem within a short period of 15minutes.The event was won by Kumar Saharsh and Nikhil Jainand the runner up team was of Abhimanyu Mahajan and SnehaGhelani. A total of 12 teams were shortlisted, consisting of twomembers each. The event was judged by Professor Arindam dasand Professor Amar Saxena. 46

Innovinc Edge- The Consulting Club of IFMR always strive to brush up innovative thinking and decision-making skills in our students. They organized a challenging event of two-liner case study with the purpose of making student accustomed to situation they might face at time of corporate interviews, which are mostly based on real time case. First round of the event was designed in a way where participants were supposed to present their stance on the situation in form of a verbal presentation/discussion; Sec- ond round was based on guesttimate questions where partici- pants were given two guestimmate questions and 15 minutes to solve that. The main purpose of the guestimmate questions was to check the thinking process of the participants and how logical- ly they can proceed to solve a problem within a short period of 15 minutes.The event was won by Kumar Saharsh and Nikhil Jain and the runner up team was of Abhimanyu Mahajan and Sneha Ghelani. A total of 12 teams were shortlisted, consisting of two members each. The event was judged by Professor Arindam das and Professor Amar Saxena.47

Republic Day Make in India marathon47 48