The X-Ecutive Vol. XVI

["ETHOS The X-Ecutive, Vol. XVI betting network and bring an end to the disease VoVol.asXVIXVIThe X- that has been plaguing the sport for a long time now. deals that wEocuultdivee,aVrnoVtohle.amsXmVIuXltVipIles of their The gentleman\u2019s game is at an all-time season contracts; their decision is made easier by ungentlemanly low, and the game that needs the high likelihood of cricket\u2019s dynamics immediate fixing is the one that is being played allowing them to escape unnoticed. off the field. The most high-profile case in recent times was the infamous IPL scandal in 2013, when References Sreesanth, Ajit Chandila and Ankeet Chavan of 1. https:\/\/www.thehindu.com\/news\/cities\/Vijaya Rajasthan Royals were accused of spot-fixing based on evidence of their telephonic wada\/murky-world-of-cricket- conversations matching their performance of betting\/article27173507.ece actions on the field being triggered by signals 2. https:\/\/www.hindustantimes.com\/india\/legally such as tucking of the towel in the trousers and -illegal-but-you-can-bet-online-in-india\/story- flicking over of the wristband. The 2009 SW04haVrqOq1MzlFBvOjiP.html controversy involving Mohammad Amir, 3. https:\/\/getdohelp.com\/img\/uploads\/blogs\/58- Mohammad Asif and Salman Butt during f9eb9ab6de34451a115fe6ef042ef259.jpg Pakistan\u2019s tour of England, which involved the 4. https:\/\/encrypted- bowling of intentional no-balls, remains tbn0.gstatic.com\/images?q=tbn:ANd9GcTv5 international cricket\u2019s biggest act of fixing. Z8tKbQqjkQyalkC30TfXzObVSI2BTKFdP1 Numerous other cases have emerged too, mostly Hiakls5jFLAQIFg&s in different T20 tournaments across the world, and it is no secret that the format which has gifted cricket unprecedented commercial success has also been a chief reason for the augmentation of the stakes associated with gambling on the game. Given the magnitude of money flowing within the cricket betting system, it is impossible to curb the issue of fixing based on educating players alone. Yes, they must be made aware for their responsibilities and indeed, it is imperative for miscreants to face the wrath of public humiliation, but the inevitability of a Chandila or a Chavan succumbing to a lucrative offer still looms. The root cause of the issue is the betting network, and it being tackled is of paramount importance. The first priority needs to be the formation of an internet gambling law in India. It would at the very least restrict access to international bookmakers and create barriers for the offline network too. A more outrageous approach would be to actually legalize online betting in India and exercise control over the system in a way such that each and every deal and its participants are traceable. This would create transparency in what is a murky underworld and could prove to be a more pragmatic alternative if thoroughly envisioned; if people were offered a legal way to do what they\u2019ve been doing illegally, most of them would opt for it. Either way, the biggest challenge is to track the controllers of the cricket","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- Ecutive, VoVol.asXVIXVI TELECOM INDUSTRY: IN THE EYE OF THE STORM Rishav Raj Singhania Warren G Bennis put it right \u201cIn life, \\\"All that Glitters is not Gold\\\" holds its B.Com (M), Change is Inevitable. In Business, relevance even during these times; the 2nd Year Change is Vital.\u201d The scenario of the sector is not all St. Xavier\u2019s College Telecommunications market of the rainbows and sunshine and has its (Autonomous), country is one such tale, where the share of ups and downs. What follows Kolkata tables turned in the blink of an eye. next is how the downturn began, but However, it should be interesting to most importantly, what is in store for Soham Chakraborty see whether this burgeoning sector the Telecom Sector, from the B.Com (M), becomes a duopoly or not. In that perspective of a consumer who seems 2nd Year aspect, perspectivism indeed does to be delighted by the low prices of St. Xavier\u2019s College come into play. the ensuing war. However, a corollary (Autonomous), The Telecom sector has always been arises in the form of a question; Kolkata referred to as the catalyst of enjoying the price war, but for how transitions in our country, which long? ignited the digital dream of India. The When one thinks of prices, it should rise of the sector played a massive be thought by keeping in mind the role in providing software common people who act like the infrastructure to the booming IT majority, supporting the Telecom sector, thus fanning the business companies to grow and balloon their process outsourcing revolution in the operations. Seeing, the recent nation. From the first cable lines laid volatility in price with the sudden in Kolkata by the British to maturing drop, and speculations that aim into the fastest growing market in the towards an increase in prices again, it world, the sector has, undoubtedly, is much needed to know the entire travelled a long way. Still, the saying, backstory regarding the same. Illustration 1","ETHOS The X-Ecutive, Vol. XVI cents to six cents, further giving Ambani more VoVol.asXVIXVIThe X- firepower to penetrate the market. After Jio's entry, all hell broke loose as the big The InceptioEncuotfivteh, eVIonVeovli.taasXblVeIXVI players like Airtel, Vodafone and Idea had to pile on more pressure to be in the game with Jio. Spectrum Swing Reduction in data prices, lower average revenue per user and accumulating more money from the Dwelling into some history first; policy market soon became a grave concern for the banks and the Telecom companies. The downturns, non-cooperative government companies put up a decent fight and had tried to portray their respective companies in a good light officials, and exorbitant fees have acted as a slow while painting Jio in a negative light accusing poison, crippling the industry from the inside. them of unfair trade and business practices. IDEA and Vodafone merged their operations to take on The Government has made big bucks from the Jio but have reported only losses for every quarter since. Anil Ambani's Reliance sale of spectrums over the last decade with over Communications went into bankruptcy and T. Ananda\u2019s Aircel further weakened to go into 18 billion dollars alone, in the year 2015. In order financial ruin. Although Airtel is still showing perseverance, the company has reported losses to stay in the competition and outdo each other in for the quarter ended September 30, 2019, the first time in its history. the war, Telecom companies took huge debts to This essentially laid down the grounds for the telecom sector today; faltering consumer shell out on confidence, faltering future of the companies and faltering executive decisions. spectrum The Court\u2019s Chaos auctions, piling It is the small moments that sum up your entire life. Similarly, it is the small decisions and on more and policies which sum up a business\u2019 life. more debt beyond their repayment capacity. The companies hoped to discharge their capital relentlessly in order to gain the larger market share, hoping that they\u2019d recoup their losses Illustration 2 from the consumer base once they had a steady grasp on the market. These investments in the spectrums proved too much for the then dozen players who were not ready for what was coming next for them. As a result, the industry faced the reality of the situation when it was time to pay back. Supernova Jio Mukesh Ambani backed Jio Infocomm made its debut on 27th December 2015, offering free calls and dirt-cheap data, shaking up the market and sending a ripple effect of nightmares amongst the competitors. Jio dominated the industry further as many competitors had to shut shop because of the newly introduced cut-throat competition. The cherry on the cake was the revised structure of the Interconnect Usage Charge from fourteen","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- The SupremEecuCtioveu,rVt\u2019soVoorl.daesrXVtoIXVthIe Telecom Industry to indemnify the past dues of the Adjusted Gross Revenue, has left a dent in the hopes of a possible turnaround in the industry. With a debt of seven lakh crores on its shoulders, the Telecom Industry is reeling under pressure to find composure and balance. After the verdict, Vodafone Idea, and Bharti Airtel, the two telcos affected most by the SC order, stands at a pending license fee and spectrum usage charge (SUC) dues of Rs 39,000 crore and over Rs 41,000 crore respectively. The Supreme Court has not yet cleared it's Illustration 3 stance on the Government's request to allow the telecommunication companies to stagger their So, what next? Average Gross Revenue over 20 years or less. It It is rightly said that \u201cNothing Changes if is very unclear as to when the hearing regarding Nothing Changes\u201d because any foundation for the same will take place hence putting the sector in a possible quandary. success needs the contribution and joint efforts of Calls for distress from the sector are loud and a team. India\u2019s growth story has somewhat been clear now, with Vodafone-Idea warning the lenders about its inability to pay them back and like a rollercoaster ride with ups and downs, signs of exiting the Indian Market. Airtel is delaying its financial reports, which in itself twists and turns and unexpected halts. exudes negative signs, and legacy operators such as Reliance Communications and Tata are closing The spread of the pandemic, Covid-19, has down shops. engendered a halt in the operations leading to an abrupt downfall in all economic activities. With foreign agencies like the Moody's rating India's Gross Domestic Product growth rate at alarming Illustration 4","ETHOS The X-Ecutive, Vol. XVI Will the Telecommunications Industry persist to VoVol.asXVIXVIThe X- build the dream for a new India and play the central role to propel the country to become a 5 lows, the eEccountiovme,yVoVisol.faascXinVgIXVanI inevitable trillion dollar economy? Or will the new policies situation of panic and doldrums. and regulations will bring forth a new perception, The Telecommunications Industry has a lot of a one which restricts your growth rather than potential hidden inside it. With almost all the encourages it, thus ultimately leading to a dearth rural areas untapped, it has the calibre to go much of passion, zeal, and capital in the Telecom sector higher and bring about a digital revolution at a to cause a downturn blowing off any hopes of faster pace. However, there is a question that was becoming the next great one in the Great Eight? forged in the first paragraph of the article that has to be answered. A question that will decide the References: future growth of the sector. Is the Industry 1. https:\/\/economictimes.indiatimes.com\/industr turning into a Duopoly, resulting in a failure of the Government to withhold a fair and equitable y\/Telecom\/Telecom-policy\/how-the-indian- policy structure? Despite injecting heavy Telecom-industry-is-heading-towards-a- investments and turnaround policies, the Telecom duopoly\/articleshow\/71849129.cms?from=m Industry has proved to be the graveyard of many. dr For nearly every other company that won a 2. https:\/\/economictimes.indiatimes.com\/news\/c license, this Industry has been a case of ompany\/corporate-trends\/post-shake-out-in- unfulfilled potential, right from the first license indias-Telecom-sector-only-three-prime- winners in the Beauty Parade. players-may- Jio has gone from strength to strength and is remain\/articleshow\/61498671.cms?from=mdr ready to capture 50% of the market. Investors in 3. https:\/\/www.livemint.com\/ their sane mind would call only Airtel as its 4. https:\/\/economictimes.indiatimes.com\/industr competitor, but for how long? The recent y\/Telecom\/Telecom-news\/supreme-court- developments with the Reserve Bank of India tells-Telecom-companies-to-pay-dues-in-3- giving the telecommunication companies a three months-government-mulls- month moratorium on bank term loans and relief\/articleshow\/71768993.cms working capital finance due to Covid-19 will give 5. https:\/\/www.ibef.org\/industry\/Telecommunic the companies a short term cash respite of 4000 ations.aspx crores. The Government too has given the 6. https:\/\/www.google.com\/search?rlz=1C1CH companies a two year period to pay the spectrum BF_enIN862IN862&biw=1280&bih=561&tb dues. The pertinent question here is that are these m=isch&sa=1&ei=tlglXtTbD8GA9QOKz46 measures enough to meet the requirement of YCQ&q=cartoons+on+indian+economy&oq respite needed in the status quo of the =cartoons+on+indian+&gs_l=img.1.1.0i67j0l Telecommunication Sector strapped of cash and 5j0i5i30l3j0i24.1130.2400..3862...0.0..0.176. burgeoning loan in their balance sheet? 1513.0j10......0....1..gws-wiz- img.......0i7i30.KOz__IIe4C8#imgrc=NTLRi HFSkUQFrM: 7. https:\/\/www.business-standard.com\/ Illustration 5","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- THE DUALITYEcutive, VoVol.asXVIXVI OF ITC'S CSR COIN: A LOOK INTO THE DARK SIDE OF ONE OF INDIA\u2019S Nandini Jain BIGGEST FMCG COMPANIES B.M.S., 2nd Year Every nanosecond of our lives, we be an abbreviation and would be St. Xavier\u2019s College followed by a change and expansion (Autonomous), encounter billions of sensations, of the company. In its initial years, Kolkata the company's existence was some of which we are aware of primarily devoted to the growth and Yash Chowdhury consolidation of cigarettes and leaf- B.M.S., consciously, allowing our minds to tobacco businesses. It\u2019s packaging 2nd Year and printing business was finally set St. Xavier\u2019s College inscribe them, while many others up in the year of 1925 as a strategic (Autonomous), backward integration for its cigarette Kolkata that involuntarily impact our brains business. ITC soon developed the tag of being India's most sophisticated subconsciously. The majority of packaging company which dealt the company an advantage regarding its these sensations are overlooked by brand value and public image, also helping the company to enter other us in our sentient state, not being markets and become a more popular and accepted brand in the country. registered, while those that we In 2019, ITC was finally able to decrease the revenue generated from recognize and retain become our cigarettes sales to less than half of the company's total revenue by perception of the objective reality expanding into other avenues. Having also entered into the packaged food under the subjective nature of this and FMCG products sector, the company was finally able to generate Earth. These, are categorized a huge part of its revenue from the sales of these products, successfully sensations of which we are making the company a household name. consciously aware. Capitalising on The real question, however, is whether this expansion into other the sensations that build our sectors was done just to increase revenue or to also make the company perception, the widely trusted brand more accepted in the Indian market through its sale of high-quality day to ITC has successfully changed its day products. image in front of the masses from a tobacco selling company to a family brand. ITC Limited is an Indian multinational conglomerate company. Established in 1910 as the 'Imperial Tobacco Company of India Limited', the company was renamed as the 'India Tobacco Company Limited' and later to 'I.T.C. Limited' in 1974. The tobacco dealing origination is still deeply rooted in the operations of the company, but the company made conscious efforts over the years to extend in unrelated industries. The dots in the name were removed in 2001, where 'ITC' would no longer","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- The companEycuhtiavse, nVootVooln.alysXVdeIXlvVedI into other sectors but has also extensively promoted the welfare activities undertaken by it. Prime example of this would be the information portrayed on the back covers of the company's 'Classmate' exercise books which highlights how the proceeds from these books go to underprivileged children. This is done to bring to attention to its huge customer base about the work done by ITC for the society, to induce people to have a good perception towards the company, and to establish itself a socially responsible company in the country. ITC has always promoted itself as a premium brand that provides optimum quality products and contributes immensely towards the society it surrounds itself with. The company has successfully convinced the consumers to think that when they associate themselves with ITC, they are associating themselves with class and quality. ITC has promoted itself as consumer servants, and created a brand image strong enough for modern users to not even be aware of the actual name of the brand and the product it originally sold. We continue to place our trust in its products and still consciously opt for the brand. ITC is omnipresent in many business fields which form the flesh of the billion-dollar company, it has managed to obtain a huge consumer base in the Indian market where initially it would not have gained momentum due to tobacco being its major selling point. Therefore, ITC is a prime example of a company that has managed to build a positive perception amongst its consumers and change the negative way the company was initially perceived to a popular household name by using expansion strategies and overcoming the initial taboo around the company\u2019s functioning to make it one of the most profitable companies of the country. References 1. https:\/\/www.fundsindia.com, ITC Ltd - FundsIndia.com. 2. https:\/\/trendlyne.com, itc-ltd; ITC Ltd. Brokerage\/Research Reports, analyst Research Reports.","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- Ecutive, VoVol.asXVIXVI INTERNATIONAL BANKING: IS DEUTSCHE BANK THE NEXT LEHMAN BROTHERS? Shohom Pal ABSTRACT B.Com (M), 3rd Year This paper focuses upon the tentative failure or collapse of Deutsche Bank in St. Xavier\u2019s College comparison to the Lehman Brothers\u2019 collapse of 2008 owing to the subprime (Autonomous), crisis that hit US in 2007-08. The research method that is used in this paper is the Kolkata AbilgtmtoanfaZTi-l\u2019sIcTaonLredEfao:nraIblsyostDhesebutahntekssce.hfTfeehceBt poaannpetkhr eathlgsoelofbnoaecluxestceosLnueophmomny tadhuenecBotonrcoDetpehtuetosrfcsh\u2018t?eo\u2019os failure. The impact of the present crisis is assumed to be severe than the 2007-08 crisis and it is of utmost importance for the German investment giant to take measures to eventually bring back stability, investor confidence and most importantly avoid another major period of global financial crisis. Keyword(s): Investment Banking, Altman Z-Score, \u2018too big to fail\u2019, subprime, financial crisis. Raj Rajeshwar Banking is one of the most crucial of tension on Wall Street and the Sharma aspects of business in the global reliability of investors diminished. 20 B.Com (M), market. They tend to regulate money percent of the workforce of the 3rd Year supply, interest rates and other \u201cGerman Giant\u201d had been cut because St. Xavier\u2019s College schemes which may have a direct or it was the fundamental reconstructing (Autonomous), indirect impact on the economy of the element to safeguard itself. Thus, such Kolkata country or even in other countries due a reconstruction plan may not be the to its strong market presence. sole way to get out of such a situation. Financial crisis is one of the most common phenomena in the 21st Literature Review century. Generally, they are Altman Z-score is a type of Z-score associated with bank panics and many which is used to predict the chances types of recessions. In September, of a bankruptcy. This ratio is helpful 2008, Lehman Brothers Holdings Inc. in analysing and measuring of with assets worth over US$600 billion financial distress in the firm. It was declared bankruptcy (Mawutor, introduced in 1968 by Edward I 2014). Altman. The Altman Z-score is Approximately, US$40 to US$60 calculated as follows: billion in collateral assets were frozen during its bankruptcy. Recently, it is Z = 0.012X1 + 0.014X2 + 0.033X3 + seen that Deutsche Bank, a German 0.006X4 +0.999X5 investment bank, recently went through a phase of reconstruction and Where, closed down their US investment banking division. This brought a sense X1 = working capital\/total assets. The working capital\/total assets ratio is a","ETHOS The X-Ecutive, Vol. XVI operations of companies which is deeply rooted VoVol.asXVIXVIThe X- in the functioning of the economy and failure of such a firm can bring catastrophic cripple effect measure of tEhceutniveet, VliqoVuiodl.aassXseVtIsXoVfI the firm in in the economy. Therefore, when faced with relation to the total capitalization. risking systemic failure, policymakers will likely X2 = retained earnings\/total assets. This measure aid the failing institution. Moreover, since this of cumulative profitability over time. policy trade off occurs at the point of failure, X3 = earnings before interest and taxes\/total policymakers cannot commit to not assisting assets. This ratio is a measure of the true failing institutions even if they so desired. Once a productivity of the assets of the firm. Since a bank failure is prominent in the economy, firm\u2019s existence is based on the earning capacity policymakers will optimally commit to avoiding of its assets, this ratio appears to be particularly short-run downside risks to themselves, despite appropriate for studies dealing with corporate possible welfare destruction. failure. X4 = market value equity\/book value of total About the Banks: liabilities. The measure shows to what extent Lehman Brothers firm\u2019s assets can decline in value before the It was a global financial services firm and was liabilities exceed the assets and the firm becomes founded in 1850 by Henry, Emanuel, and Mayer insolvent. Lehman who emigrated from Germany, to X5 = sales\/total assets. It is the measure of Montgomery, Alabama, where, in 1844, they management\u2019s capacity in dealing with established a small shop selling groceries for the competitive conditions. This resultant ratio is local cotton farmers. As the farmers often paid quite important because it is the least significant their bills in cotton, the brothers soon found that ratio on an individual basis and their business relied as much on selling cotton as Z = overall index. dry goods. The brothers began trading other commodities, as well as helping companies raise Illustration 1 capital in the bond and equity markets. This formula is helpful for investors to determine In 1887, Lehman Brothers became a whether they should consider buying a stock or member of the New sell some of the stocks. The Altman Z score York Stock Exchange. It witnessed below 1.8 denotes that the firm is under the steadily increased revenues and chance of getting into bankruptcy. On the other tremendous increase in human hand, the firms with Altman Z score above 3 resource base from 8,500 to 28,000 have less chances to go bankrupt. during the period after the IPO in Too-big-to-fail is a concept where the 1994. For three years (2000 \u2013 2002), government intervenes and supports the the Firm recorded a net income of US$1 billion. In order to boost its asset management business, it acquired Neuberger Berman Inc. for a transaction value US$3.2 bn 2003. By 2007, the Firm also became the largest underwriter of mortgage backed securities. Excessive borrowing resulting in high leverages partly accounted for the bankruptcy of Lehman Brothers. Its leverage ratio by 2007 was 31:1. The Firm\u2019s independence on the subprime mortgage market is regarded as the central cause of its collapse. The collapse of Lehman Brothers in 2008 led to the catastrophic situation in the US economy. Being one of the largest investment banks, it also impacted the","ETHOS The X-Ecutive, Vol. XVI Assumptions I. As both of the companies taken into VoVol.asXVIXVIThe X- global econoEmcyutiavtel,aVrgoeV.oIlt.asshXoVoIkXtVhIe confidence account are banking companies, we are of investors leading to a situation of distrust in taking 4 parameters in the Altman Z-score the market. It affected the Chinese stock market. model. The bankruptcy of Lehman Brothers had adverse effects on its creditors\/investors. A day after the Firm filed for bankruptcy, the price of a share or net asset value of the Reserve Primary Fund, a money market mutual fund based in the US, fell below US$1, a phenomenon referred to as \u201cbreaking the buck.'' Deutsche Bank This bank was founded in 1870 to promote the German standing in the global markets. It was worst hit during the 1929 crisis. In 1990, it acquired US investment bank, Bankers Trust for $10.1bn becoming the fourth largest financial management firm. During 2004-2008 it was the purveyor of junk bonds and sold a huge chunk of collateralized debt. After the 2008 crisis and fall of the Lehman Brothers, the bank\u2019s business started to soar heights. In 2014, the bank had to pay about $1.93bn settlement to the US Federal Housing Finance Agency because of selling subprime-mortgage backed securities to government agencies like Frannie Mae and Freddie Mac. The net loss before tax touched about $1.6bn. In 2015, the bank had to pay a fine again of $2.5bn to both US and UK for the LIBOR-fixing scandal it was involved in. the Illustration 2 International Monetary Fund called the bank in Particulars Amount in 2016 \u201cthe most important net contributor to Million Dollars systemic risks\u201d to the global financial system. (482,117) Various financial publications around the world Working Capital 691,063 19,698 also started warning that Deutsche might be the \u201cnext Lehman Brothers.\u201d Currently, according to 6,013 32,460 the Q3 reports, the bank has earning per share as Total Assets -0.41 which is an alarming signal. Firstly, 668,573 Deutsche bank has a problem earning money Retained Earnings from its conventional sources. This is because the interest rates in Europe are near zero. Due to this, the bank is involved in derivative contracts which EBIT has high risks. The leverage ratio is also very low and it does not comply to the Basel-III norms. Research Objective Market Value of Equity I. To calculate Altman Z-score for Lehman Brothers and Deutsche Bank. Book Value of Total Liabilities II. Analyse the ratios to observe both the situations. Illustration 3","ETHOS The X-Ecutive, Vol. XVI Multiples Variables Multiples * Variables VoVol.asXVIXVIThe X- Variables Ecutive, VoVol.aRsaXtVioIsXVI X1 Working Capital \/ Total Assets 6.56 0.124324902 0.815571355 X2 Retained Earnings \/ Total 3.26 0.01239785 0.04041699 Asset X3 EBIT \/ Total Assets 6.72 0.002206749 0.014829353 X4 Market Value of Equity \/ Book 1.05 0.012602684 0.013232818 Value of Total Liabilities Z Altman Z Score 0.884050517 Illustration 4 Parameters and Their Analysis X1: As we can see that the ratio when multiplied Empirical Analysis with weights it has become negative. This means The Altman Z-score for Deutsche Bank is that the bank faces a problem in meeting its short calculated as below: term obligations. It also means that there is low Deutsche Bank: current assets to finance the obligations. Parameters and their Analysis X2: In this parameter, we can see that the ratio is X1: As we can see that the ratio positive but low. quite low. This means that the company is As the parameter is positive, it can be estimated financing capital expenditure through its that the banking company will not have problems borrowing. in paying its short term obligations. But the X3: The ratio depicts that the earnings are very parameter is quite low and it is a sign of concern low and it is a sign of major concern for the bank for the bank to increase the working capital as it as the return on the assets are the least. may anytime become negative and affect the X4: This ratio is comparatively in a better bank. position as it is greater than 1. X2: In this parameter, we can see that the ratio is Z: The Z-score for this bank is negative which is extremely low. The banking company is alarming and it is definitely has a very high financing capital expenditure through its chance of bankruptcy as it is very low from the borrowing which poses a threat to the threshold that is 1.1. performance of the bank. X3: The ratio depicts that the earnings are Comparison Between Lehman Brothers and extremely low Deutsche Bank X4: The ratio shows how much the firm's assets When we are comparing both banks according to can decline in value (measured by market value the aforementioned model, we find that the of equity) before the liabilities exceed the assets results are almost similar. Thus, we can anticipate and the firm becomes insolvent. The ratio being that Deutsche Bank can also lead to such a extremely low, shows that the company is problematic situation. It is estimated that the suffering impact of the fall of this bank would be more Z: As we can see that the Altman Z-score is severe than the last economic crisis. As it holds below 1.1, it has a higher chance of bankruptcy. different divisions in different countries, the impact on the global market would be Lehman Brothers: tremendous. Deutsche Bank mainly trades on The Altman Z-score for Lehman Brothers is derivatives and a banking \u201cshock\u201d in this market calculated as below:","ETHOS The X-Ecutive, Vol. XVI Multiples Variables Multiples * Variables VoVol.asXVIXVIThe X- Variables Ecutive, VoVolR.asaXtiVosIXVI X1 Working Capital \/ Total Assets 6.56 -0.6976 -4.576256 X2 Retained Earnings \/ Total Asset 3.26 0.0163 0.053138 X3 EBIT \/ Total Assets 6.72 0.0087 0.058464 X4 Market Value of Equity \/ Book 1.05 1.4433 1.515465 Value of Total Liabilities -2.949189 Z Altman Z Score Illustration 5 could disrupt its performance creating geo- mainly tap into such markets because they would political tensions among countries. get a higher return as the risks are high. The The fall of Lehman Brothers was considered a Asset-Liability Management should be taken care situation of \u201ctoo big to fail\u201d. Similarly, Deutsche of. This would eventually increase the Bank is considered one of those giants in the operational efficiency, promote sustainable banking industry. According to the IMF, the fall growth and prevent it from bankruptcy in the of Deutsche Bank is a greater threat to global future. financial markets. Thus, when we are comparing Lehman Brothers before its Bankruptcy and Deutsche Bank in the recent times, the results are quite the same and thus we can conclude that Deutsche Bank can be \u201cthe next Lehman Brothers.\u201d if they don't take preventive measures. In this case, it would lead the European Union to implode. Conclusion Deutsche Bank will lead to a slowdown in the global markets. To avoid such a bankruptcy, it should tap into markets in the South-Asian countries like India where the infrastructure of the banking sector is not as effective as in America and Europe. It has to hold a more diverse portfolio and look towards investment in more emerging markets in search of higher returns since interest rates are so low in Europe Although this would lead the firm to give away its tag of being one of the largest premium investment banks but it is the only way out for Deutsche Bank. The German Giant should","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- References Ecutive, VoVol.asXVIXVI 1. https:\/\/shodhganga.inflibnet.ac.in\/bitstream\/1 0603\/70607\/10\/10_chapter%202.pdf 2. http:\/\/www.hrpub.org\/download\/20141201\/U JAF4-12202990.pdf 3. https:\/\/shodhganga.inflibnet.ac.in\/bitstream\/1 0603\/91876\/13\/13_chapter4.pdf 4. http:\/\/pages.stern.nyu.edu\/~ealtman\/Zscores.p df 5. https:\/\/www.investopedia.com\/terms\/a\/altman .asp 6. https:\/\/www.wallstreetmojo.com\/altman-z- score\/ 7. https:\/\/www.db.com\/ir\/en\/download\/FDS_Q3 __2019.pdf 8. https:\/\/news.bitcoin.com\/deutsche-bank- collapse-could-crash-global-financial- markets\/ 9. https:\/\/www.newyorkfed.org\/medialibrary\/me dia\/research\/staff_reports\/sr859.pdf 10. Auletta, Ken, Greed and Glory on Wall Street: The Fall of House of Lehman, Random House, NY 1986 11. Wiggins, Rosalind Z., and Andrew Metrick. 2014B. The Lehman Brothers Bankruptcy B: Risk Limits and Stress Tests, Yale Program on Financial Stability Case Study 2014-3B- V1, October. Wiggins, Rosalind Z., Jihad Dagher and Andrew Metrick. 2014C. 12. The Lehman Brothers Bankruptcy C: Managing the Balance Sheet through the Use of Repo105, Yale Program on Financial Stability Case Study 2014-3C-V1, October. Wiggins, Rosalind Z., and Andrew Metrick. 2014D. 13. The Lehman Brothers Bankruptcy D: The Role of Ernst & Young, Yale Program on Financial Stability Case Study 2014-3D-V1, October. 14. https:\/\/www.virtusinterpress.org\/IMG\/pdf\/Hu gh_Grove_Maclyn_Clouse_paper-2.pdf 15. https:\/\/hksar.org\/5-signs-of-deutsche-bank- collapse","RECOMMENDED MOVIES INSIDE BILL'S BRAIN : ENRON: THE SMARTEST DECODING BILL GATES GUYS IN THE ROOM (2005) (2019) THE DOCUMENTARY EXPLORES THE THIS DOCUMENTARY TAKES A LOOK AT MIND OF THE TECH TITAN AND THE POWERFUL ENERGY COMPANY, ENRON CORPORATION, WHOSE INDUSTRY LEADER BILL GATES AS HE PURSUES SOLUTIONS TO SOME OF THE DOWNFALL PERPETUALLY CHANGED THE LANDSCAPE OF THE BUSINESS WORLD. WORLD'S MOST COMPLICATED PROBLEMS ALONG WITH HIS WIFE MELINDA. PIRATES OF THE GREAT HACK SILICON VALLEY (2019) (1999) BASED ON THE BOOK FIRE IN THE VALLEY: IN THE WAKE OF THE 2016 U.S. PRESIDEN- THE MAKING OF THE PERSONAL TIAL ELECTIONS, THE MOVIE EXPLORES HOW A DATA COMPANY NAMED COMPUTER, THIS IS THE STORY OF HOW CAMBRIDGE ANALYTICA CAME TO TWO GARAGE STARTUPS FROM THE EXEMPLIFY THE DARK SIDE OF SOCIAL MEDIA. SILICON VALLEY REVOLUTIONIZED THE 20TH CENTURY IN THEIR QUEST TO BUILD THE FIRST VIABLE PERSONAL COMPUTER. STARTUP.COM GENERATION STARTUP (2001) (2016) STARTUP.COM EVALUATES THE IMPACT OF THE MOVIE TRACKS SIX YOUNG DETROIT THE INTERNET REVOLUTION IN THE YEAR ENTREPRENEURS OVER 17 MONTHS AS THEY 2001 IN THE BUSINESS WORLD, AS WELL AS EVERYDAY LIFE. THE MOVIE SUCCESSFULLY STRUGGLE TO MAKE THEIR BUSINESS CAPTURES THE MAGNANIMOUS AFFECT DREAMS INTO SUCCESSFUL STARTUP REALITIES TO ACHIEVE THEIR ULTIMATE THAT THE ONSET OF THE INTERNET BROUGHT ABOUT, CAPTURING NOT ONLY OBJECTIVES. THE BIGGER PICTURE, BUT THE IMPACT ON FOOD, INC. PRIVATE LIVES AS WELL. (2008) WE STEAL SECRETS THE STORY OF WIKILEAKS (2013) THE DOCUMENTARY DEALS WITH THE THIS POWERFUL FILM CHANGED THE WAY CREATION OF JULIAN ASSANGE'S MILLIONS OF AMERICANS EAT. IT IS AN UNFLATTERING LOOK INSIDE AMERICA\u2019S CONTROVERSIAL WEBSITE, WITH ITS MAIN CORPORATE CONTROLLED FOOD INDUSTRY. BUSINESS IN THE COLLECTION AND DISTRIBUTION OF SECRET INFORMATION AND MEDIA BY WHISTLEBLOWERS WHICH FACILITATED THE LARGEST SECURITY BREACH IN U.S. HISTORY. 113","You run India's Best Defence, Aero- space & Military News Site. Last year we heard a lot of controver- sies about the agreement between the Russian government, Indian government and Pipavav port. What is your take on the gov- ernments keen interest on greater private sector participation in defense and easing overseas investment rules in this regard? Thanks for having me. Private sector participation in Indian defence industry is not just desirable -- it's crucial and imperative. The Sovi- et-style monopolies of state- owned weapons development and manu- facture has led to a multiplicity of issues that must be addressed soon. Indian industry has proven not just capable of baseline defence manu- facture, but also critical R&D, devel- opment, concept building and man- ufacture of even advanced systems, including sensors, unmanned weapon systems and space plat- forms. So my view is simple -- much has been done in the last 10 years to ease private sector entry into defence, but a great deal more needs doing. Rules, frameworks and the crucial element of predictability remains elusive. You have reported from con\ufb02ict zones that include Kashmir, India's North-East Frontier, Sri-Lanka and Libya. For the latter, you have won two awards for war reporting, how was the experience in these war zones? How did it a\ufb00ect you mentally? Reporting from con ict zones has been the privilege of my career, not because I revel in con ict, but because it truly","gave me a chance to report on Not for a moment have I regretted my world-changing events. The Libyan war in decision to be a journalist. It is the most 2011 was one such, the end of the LTTE in ful ling work I can imagine. I've had the Sri Lanka in 2009 was another. In the war- opportunity to see and do the most amaz- zone, I met some of the most resilient, ing things -- y jets, report from warzones, kind, overwhelmingly I'd be lying if I said scuba dive with Special Forces soldiers on they didn't a ect me mentally. remote islands. With the advent of various news portals on the internet, a lot of false informa- tion has spread under the facade of What are your views on \u201cMake in India\u201d actual news. What measures do you with regard to our defence equipment? think should be taken to curb such an According to you, is Indian industry activity? ready for the challenge? Fake news and propaganda is without a Indian industry is de nitely ready. There doubt a scourge of the modern age. There are several private companies both big are a profusion of anti-fake news portals and small doing highly advanced defence doing excellent work in battling the equipment development both for the scourge. It's a battle I believe will neces- Indian military as well as the global sarily be ongoing, without any de nite market. While steps have been taken in end in sight. recent years to level the playing eld and make the atmosphere viable for private sector in defence, there's a way to go What prompted you to write, 'Opera- before it is anywhere near an ideal canvas. tion Jinnah'? Sir, how would you Police needs to be shaped in aggressive describe the experience of writing your ways to incentivise the private sector to \ufb01rst book? enter the capital- intensive, high risk I covered the 26\/11 terror attacks in defence manufacture business. Mumbai, so the story is somewhat person- al for me. It was a total lack of justice for those killed that drove me to fantasise Where does India stand when it comes about a mission to teach the perpetrators to women in combat roles in the army? a lesson. Writing it was di cult, but very What are your views on it? cathartic personally. The protagonist of my novel Operation Jinnah is a woman naval commando who in ltrates enemy lines. I think that tells Would you agree that it is the common you what I think about combat roles for ancient religio-cultural roots shared women, more than anything more I could amongst Indians that hold India possibly say. together amidst high regional diversi- ty? I don't think most Indians really think What is your message for the students about ancient religio-cultural roots in the of St. Xavier's College, Kolkata? context of India being held together. I Try and learn one new thing every day, think diversity is something that comes preferably outside your comfort zone. For naturally to Indians. I would say a basic instance, yesterday, I read all about a very humanity and recognition of this bounti- little known disease called 'Fatal Familial ful diversity is what holds us together. Insomnia'. Challenge yourself, give your- self knowledge goals, never stop being How would you describe the experienc- curious. es that you have had to face during your career as an editor and anchor at India Today? I\u2019ve been a reporter for 17 years now, and an anchor for 10. 115","SUGGESTED READS COMPANY OF ONE THE FOUR (2019) (2017) THE BOOK INTRODUCES THE AUDIENCE AMAZON, APPLE, FACEBOOK, AND GOOGLE ARE WITH A UNIQUE BUSINESS STRATEGY OF THE FOUR MOST INFLUENTIAL COMPANIES ON \u201cYOUR BUSINESS CAN THRIVE WITH THE PLANET. THIS BOOK SHOWS HOW THE LESS\u201d AND EXPLAINS HOW TO MAKE IT FOUNDERS OF THESE COMPANIES HAVE MADE USE OF THE FUNDAMENTAL EMOTIONAL NEEDS WORK. IT\u2019S A FRESH APPROACH THAT DRIVE THE ACTIONS OF HUMANS, AT A CENTERED AROUND KEEPING ONE\u2019S SPEED AND SCOPE UNMATCHED. BUSINESS SMALL AND AVOIDING GROWTH. THE ONE MINUTE THE INTELLIGENT MANAGER INVESTOR (1982) (1949) THIS BOOK CLAIMS TO HOLD THE SECRET THE BOOK EXPLAINS THE IMPORTANCE OF OF IDEAL AND EFFECTIVE MANAGEMENT \\\"VALUE INVESTING\\\", WHICH FOCUSES ON TECHNIQUES. THE AUTHORS MENTION 3 GENERATING STEADY, LONG-TERM PROFITS METHODS, EACH OF WHICH TAKE ONLY A BY IGNORING THE CURRENT MARKET AND MINUTE TO PERFORM BUT LEAVE A LONG PICKING COMPANIES WITH HIGH INTRINSIC LASTING CONSTRUCTIVE IMPACT ON VALUE. THE INTELLIGENT INVESTOR ONE'S BUSINESS. PROVIDES AUXILIARY PRACTICAL ADVICE TO ALAN TURING: THE COMMON INVESTOR AND EXPLAINS THE ENIGMA THE STOCK MARKET PSYCHOLOGY. (1983) HOW TO WIN FRIENDS A BIOGRAPHY OF ALAN TURING WRITTEN AND INFLUENCE PEOPLE BY ANDREW HODGES, PUBLISHED IN 1983. THIS BOOK HIGHLIGHTS HIS (1936) CONTRIBUTIONS TO COMPUTER SCIENCE, THE BOOK HAS POTENTIAL TO TURN MATHEMATICAL THEORIES AND AROUND YOUR RELATIONSHIPS AND EXPLANATIONS, AND HOW THESE IMPROVE YOUR CONNECTIONS WITH THE PEOPLE IN YOUR LIFE. IT OFFERS A SIMPLE CONCEPTS HELPED THE ALLIES WIN SET OF GUIDELINES, LUCIDLY EXPLAINED, WORLD WAR II. THAT WILL ENABLE EVERY READER TO GAIN START WITH WHY INSIGHTS INTO BEING POPULAR, (2009) PERSUASIVE, AND INFLUENTIAL. A BOOK THAT DELVES INTO QUESTIONING ALL MARKETERS AND COMPARING WAYS OF INFLUENCING ARE LIARS TELL STORIES HUMAN BEHAVIOR. \\\"START WITH WHY\\\" (2005) DRAWS A COMPARISON BETWEEN THIS BOOK HIGHLIGHTS THE FACT THAT MANIPULATION AND INSPIRATION AS KEY MARKETERS DON\u2019T TALK ABOUT FEATURES OR INFLUENTIAL FACTORS THAT AFFECT THE EVEN BENEFITS OF THE PRODUCT OR SERVICE, INSTEAD, THEY TELL US A STORY. IN A WORLD HUMAN MIND. WHERE MOST PEOPLE HAVE AN INFINITE NUMBER OF ALTERNATIVES AND NO TIME TO MAKE CHOICES, EVERY ORGANIZATION IS A MARKETER TRYING TO MAKE A PLACE FOR THEMSELVES IN THE WORLD BY CREATING AND TELLING STORIES. 116","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- Ecutive, VoVol.asXVIXVI THE AGE OF ARTIFICIAL INTELLIGENCE \u201cA.I. is in a \u2018golden age\u2019 and solving problems that were once in the realm of sci-fi\u201d - Jeff Bezos ABSTRACT Abhishek Mohata The world is fast evolving, with As AI blossoms the great word of B.Com (E), honour is that AI will be able to think 2nd Year artificial intelligence spearheading the and imagine and see things like St. Xavier\u2019s College biggest ever revolution in the history the mankind has never before . In (Autonomous), of human mankind \u2013 the Artificial the avant-garde world, we might find Kolkata Intelligence Revolution. Artificial a seemingly implausible solution to intelligence is changing the world like climate change or a radically disparate never before. It\u2019s going to drive your approach to cure an incurable disease. car, grow your food, find cure to AI will help us become more creative incurable diseases, be your and this creativity will help us find companion, and maybe even take your solutions. Like the Industrial jobs. Jack Maa believes that in 30 Revolution helped us overcome the years time a robot will be more likely limitation of muscle power, AI to be in the cover of Times Magazine Revolution might help us overcome as the best CEO than a human being! the limitation of cerebral matter. You You\u2019ll be forgiven for having some have to be extremely pessimist to not questions about this chaotic, A-I to find this as a great news. Mark driven world that\u2019s predicted to unfold. Cuban, the serial entrepreneur and Artificial intelligence is nothing but a Shark Tank investor has an empathic technique that enables a machine to message for entrepreneurs, businesses act like humans to mimic human and the government - invest in behaviour. With AI it is possible for artificial intelligence or risk becoming machine to learn from experience. \u2018a dinosaur\u2019 very soon. He believes That is the reason why AI is that those who are unaware of AI are improving rapidly and catching up same as those who ignored the with its hype. It is because of this internet in 1999. natural evolution, AI improves at a AI is proliferating productivity and given task when it learns from new refining human lives but the question data, and the world is producing more is what will happen to our jobs in data every single second. AI can be future and what sort of prowess we trained to accomplish specific task by will need to perform them. There is a processing large amount of data and lot of debate about the fact that recognising patterns in them. This has whether AI is going to be a force for lead to cars that can drive themselves, good that will liberate us from our to medical diagnoses that have beaten mundane repetitive work or rather it\u2019s the accuracy of human doctors, and to going to be the advancement that facial recognition that\u2019s reliable brings us to an end to human race. enough to unlock your phone. The tech community and the world at","ETHOS The X-Ecutive, Vol. XVI cognitive labour. It will perform many kinds of VoVol.asXVIXVIThe X- physical and intellectual tasks with speed and power that far outstrip any human, dramatically large is also Eccountfiuves,eVd oaVbolu.atstXhiVsItXoVpiIc, they don\u2019t increasing productivity in everything from know what the right answer is. On one side of the transportation to manufacturing to medicine.In debate we have people like Mark Zuckerberg and his book AI SUPERPOWERS, Kai-Fu Lee an AI Larry Page the pioneers of technological aficionado writes that \u201cMassive productivity companies that are at the forefront of AI. They gains will come from the automation of profit are quite optimistic about the impact of AI . generating tasks, but they will also eliminate jobs Zuckerberg was quoted saying that \u201cAI will help for huge number of workers. These layoffs won\u2019t humanity reach its full potential\u201d. And the other discriminate from the colour of once collar, side is populated by people like Elon Musk and hitting highly educated white-collar workers just Bill Gates. They have warned against the as hard as many manual labourers. A college potential of AI to replace humans in the degree \u2013even a highly professional degree \u2013 is no workplace and Elon Musk went even far as to guarantee of job security when competing against claim that \u201cAI is the biggest existential threat to machines that can spot patterns and make mankind\u201d and \u201cwith artificial intelligence we are decisions on levels the human brain simply can\u2019t summoning the devil\u201d. fathom.\u201d In order to understand this debate further let us Jobs that are repetitive and routine in nature will go back in yesteryears. There has always been be gradually replaced by Artificial Intelligence concern about technology and its advancement and it will be the only creative jobs that thrive. since the beginning of recorded history. We have been always worried about new technology. Plato Illustration 1 was perturbed about writing; he believed that if we teach people to write they will not use their Illustration 2 memory to remember things. In the 18th century with the advent of Industrial Revolution people AI will bring immense challenges in terms of were petrified of technologies like the steam potential job replacements. We should not be engine or the machines that can cut and shape worried about the paucity of jobs but about the metal tools but exactly these inventions helped dearth of skills to perform those new jobs. people increase their standard of living and live According to a report from World Economic lives longer. If we are really scared of some kind Forum nearly 50% of the subject knowledge of AI coming into a conscious being that can self acquired in the first year of a four-year technical procreate itself, we already do that every day and degree becomes outdated by the time the student we call it humans being born. They are not graduates. artificial but intelligent. We don\u2019t want to live in a world where people are worried about babies being born because what if they become evil. Maybe we should not have babies; maybe we should not create AI! If we resist technological progress because we are perturbed about all these issues then it handicaps advancement. We should not avoid these problems but also not let them to be stumbling blocks to progress. The AI Revolution will be on the scale of Industrial Revolution but probably larger and definitely faster. Consulting firm PwC predicts that AI will add $15.7 trillion to global economy. The disruptions will be more broad-based than prior economic revolutions. Steam power fundamentally altered the nature of manual labour, and ICT did the same for certain kind of","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- Ecutive, VoVol.asXVIXVI who was crying, Alpha GO felt no happiness from winning and certainly no desire to hug a loved one. Work ethic in the Industrial Age has brainwashed us into thinking that work defines the meaning of our lives. In her book \u2018Top five regrets of dying\u201d Bronnie Ware talks about dying wishes and regrets of the people in deathbed, she found that facing death no one regretted that they didn\u2019t Illustration 3 We predict linearly but the changes exponential Illustration 5 technologies bring are disruptive and exponential work hard enough in this life, they only regretted that they didn\u2019t spend enough time with their and hence counterintuitive. Skills acquired in loved ones and they didn\u2019t proliferate love. AI schools would be completely redundant in the Source:-TED next decade if emphasis is not on developing emotional intelligence to cope and curiosity to possibly still be relevant with accelerated change. We must look differently at \u2018known knowns\u2019 must take chances with \u2018known unknowns\u2019 and be ready to deal with \u2018unknown unknowns\u2019. Jack Maa, long and outspoken advocate of China\u2019s extreme work culture says that people should be able to work just 12 hours a week with the benefits of artificial intelligence. He also believes that if we don\u2019t change the current Illustration 6 Illustration 4 gives us the opportunity to think and ponder on the meaning of life which is somewhat lost, to education system we will be in a thick soup. introspect and most importantly to spread love. AI will take away a lot of routine jobs but routine Compassion, love and empathy are the things that jobs are not what we are about, we are about AI will not provide. As AI takes away the routine love, reason for our existence is compassion, and jobs we must create jobs of compassion. We will that\u2019s what differentiates us from AI. AI is not need more social workers to make this transition; capable of love. When Alpha Go defeated world we will need 10 times more teachers to help our champion Lee Sedol at the game of Go, it was he children thrive in this world; with all the new found wealth we should make labours of love as careers. AI will come and take away the monochromatic jobs and in due time we will be thankful. AI will","ETHOS The X-Ecutive, Vol. XVI References VoVol.asXVIXVIThe X- 1. https:\/\/yourstory.com\/2020\/01\/ces-2020- become greaEtcuttoivoel, fVoorVtohle.ascXrVeaItXivVeI people and mark-cuban-ai-artificial-intelligence- enable the scientists, the musicians, the writers investments-startups and the artists to be more creative. AI will work 2. https:\/\/www.supplychaintoday.com\/ceo- with humans as analytical tools that humans can quotes\/jack-ma-artificial-intelligence-quote wrap there warmth around for the high 3. https:\/\/youtu.be\/ajGgd9Ld-Wc compassion jobs and we can always differentiate 4. https:\/\/www.google.com\/amp\/s\/www.wired.c ourselves from the uniquely capable jobs that are om\/story\/power-limits-artificial- both compassionate and creative that uses our intelligence\/amp irreplaceable brains and hearts. We have always 5. https:\/\/www.bloomberg.com\/news\/articles\/20 been in a symbiotic relationship with our 19-08-29\/jack-ma-says-forget-long-days-ai- inventions.AI is serendipity, it is here to liberate could-bring-12-hour-work-weeks us from routine jobs and it is here to remind us 6. https:\/\/www.pwc.com\/gx\/en\/issues\/data-and- what it is to be a human. So let us choose to analytics\/artificial-intelligence.html embrace AI and love the human mankind. 7. https:\/\/www.inc.com\/peter-economy\/mark- cuban-says-you-need-to-know-how-this-one- thing-works-if-you-want-to-succeed-in- future.html 8. http:\/\/reports.weforum.org\/future-of-jobs- 2016\/skills-stability 9. AI SUPERPOWERS \u2013 BY KAI \u2013 FU LEE 10. https:\/\/ainews360.com\/why-elon-musk-fears- artificial-intelligence 11. https:\/\/hackernoon.com\/a-blind-survey-on- who-techies-support-8bc79eac469d","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- Ecutive, VoVol.asXVIXVI THE CREATOR OR THE CREATION, WHO\u2019S GOT THE Shyam Agarwal LEAD? B.Com (M), ABSTRACT 2nd Year St. Xavier\u2019s College The narrative that runs across the article primarily wishes to convey the (Autonomous), indispensable attribute in the possession of humans, in today\u2019s scheme of things. Kolkata The article acknowledges the disruption brought about by automation in general and Artificial Intelligence in particular and accentuates the not so obvious and unexplored angles, to the gargantuan problem of human job loss. It strives to juxtapose the possible future events in the concerned space and the pragmatic action undertaking options, at the disposal of human capital. The piece does not heavily thrive on data and numbers, because the contributors of the article believe that this issue needs abstract assessment and more importantly, presentation, to get the message across to the multitude, in a pellucid manner. Ruchika Chandak With advancement in technology, the theme of entering \u2018The Fourth B.Com (E), definitions have changed, more so Industrial Revolution\u2019 must be 2nd Year pertaining to how we operate in our explored. A term first coined by Klaus St. Xavier\u2019s College daily lives. The impact of automation Schwab at the WEF in Davos in 2016, (Autonomous), has widened to this extent that it it is commonly used by industry Kolkata almost qualifies as a 4th basic specialists to describe the entire necessity of existence. The most gamut of technological advances like important thing out of the lot is that, Artificial Intelligence (AI), Internet of it\u2019s on the constant grind to upgrade Things (IoT), 3D Printing, Quantum itself and is experiencing the same. Computing, etc. that have made their Automation is on its path to attain way both into business and perfect integration into our lives, with government organisations. Schwab its obvious presence going unnoticed. claims that it has blurred \u2018the From our smart phone assistants to boundaries between the physical, drone deliveries, it is tapping into digital and biological worlds.\u2019 every-possible-thing under the sun. However, what differentiates this Paradoxically, programmers creating wave of changes from such the algorithms are foreseeing human revolutions in the past is the unemployment as a consequence of unprecedented pace with which this their work. It\u2019s a classic ouroboros. technological integration is taking There is no doubt that there is a dire place. It took approximately seventy need of skill up gradation as far as five years for hundred million users to human capital is concerned but the adopt the telephone, two years for idea should revolve around working Instagram to touch that mark and only with automation and not against it. a month for \u2018Pokemon Go\u2019 to claim In the midst of massive technological the feat. changes that are set to upend the way Upon closer look, automation in we conduct our daily activities, the general, and AI in particular have","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- a larger impEacctutoivne,certain sectors compared to testimony of how the most innovative digital others. AI haaVnsdoaVadouvlta.oanmscXeodVbiIalXeslVo. tIItwhisenalistocommaeksintgo companies can generate huge wealth on the back healthcare of the toil of relatively small numbers of people, is Google\u2019s market value of $377bn on the back significant progress in financial services, retail of 53,600 global employees, vis-\u00e1-vis General Motors\u2019 market value of $60bn, riding on and consumer goods, communications, 216,000 employees. Long strides have been taken since the time the idea of a driverless car was manufacturing and so on. For example, in the conceptualised and Google\u2019s Waymo, Uber and Delphi are only a few of the players healthcare space today, AI tools can process data competitively working in this space to make it a reality. Barring the legal obstacles, autonomous of millions of patients with finesse and any driving promises several benefits like lower pollution, lesser accidents and traffic congestion. digression from the same can be identified as an According to a report released byForrester, a alert that something\u2019s wrong. Having said that, market research company, by 2021, robots will have eliminated 6% of all jobs in the US, there is a lot of room for improvement left, when including truck and taxi drivers. With large scale automation and data storage capacity and it comes to interaction between human physicians sophistication, paralegal or legal assistants who typically help sort through documents and sift and automated algorithms. When talking about through legal code could also find themselves without jobs. A small example of how the the automotive space, automation needs to strike automation we are witnessing today has gone far beyond the manufacturing sector is presented by a balance between manufacturing and operations. a company named Creator (formerly Momentum Machines) which unveiled the world\u2019s fully The constant tussle between automation and automated Burger Robot in June, 2018. This robotic burger cook would be capable of filling human capital, goes on to blatantly indicate that complex customer orders from scratch without human interaction, and would do so perfectly, up-skilling is the need of the hour. With this nonstop, as long as it had ingredients available. Complex algorithms used by financial institutions known, the multitude is not cognizant of the could displace human loan officers or credit analysts, making them another one of the exact intricacies of the same. To be relevant to vulnerable sections of the society. our \u2018silicon counterparts\u2019, a paradigm shift is In the light of this job displacement caused by automation, an often-discussed scheme for a needed as far human resource is concerned. more secure economic future is the introduction of a Universal Basic Income (UBI) for all the 1. New problem space creation, which adult citizens of a country. Under this scheme, the government would guarantee a certain degree necessarily falls outside the purview of of income to all members of a society regardless of their employment status. Tech leaders from programmed algorithms. New problem space Elon Musk to Mark Zuckerberg have spoken in favour of this idea and in a 2017 survey creation refers to discovery of unexplored conducted across 28 European countries, 68% of Europeans voted in favour of basic income, up content and knowledge domain, pertaining to from 64% in the previous year. Not just this, Andrew Yang, the Democratic Presidential the identification and exploration of unventured space. 2. Humans need to master the art of context in order to fix communication problems, primarily driven by a contextual theme. A humdrum example of the same would be the importance of a human moderator behind the mechanism of smartphone auto-correct algorithms. The entire conversation can take a different shape, owing to out of context auto- corrects. 3. It is believed that the one thing that automation or AI cannot replicate easily, is human cognitive ability. Also, what needs to be considered is the fact that more often than not, the data upon which such algorithms are based, turn out to be biased and therefore in an implicit manner, the results are biased too. One can put forth the argumentation in the light of human bias, but the same is considered to be on rational lines. The strongest repercussion of the concept of AI, goes on to bind the current workforce. A","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- aDcalrinvedaididdeyantdea\u2019n-nfoogVEruivconuitVcnhtegieovdle.aaU,hwsiSXsayVpeIrl$Xoe1cpV0toiI0os0anls this year has soon gain renewed significance in an age of of a \u2018Freedom duplication and automation. Art, whether in the form of painting, dancing, music or theatrics also a month to all seems relatively less threatened by AI and it\u2019s multifarious applications. American adults. Part of this scheme would be Another big concern that needs to be acknowledged is the usage of all the free time funded by a VAT which Yang plans to levy on that automation renders to us. With the possibility of venturing into several avenues, we tech companies like Amazon and Facebook have chalked out a viable conduit, in the form of \u2018Gig Economy\u2019. The concept of \u2018gig economy\u2019 in which he feels are ushering in automation at the all forms, encapsulates the potential to intrigue one and all. Freelancing is the future, due to its expense of blue-collar jobs and the rest would flexibility which in turn paves the way for creativity. Some developed economies are come from people opting out of other social already half way down in establishing a framework for the same, with almost a third of security schemes in favour of the \u2018Freedom America\u2019s population adopting this way of Dividend\u2019. Apart from the obvious benefit of working. A striking characteristic about gig economy is that it rides on imagination bridging the income inequality Yang claims that supremacy, which robots are devoid of. It does \u2018a UBI would be the greatest catalyst for arts and not affect on-ground managers too, since no managerial resources need to be expended entrepreneurship we have ever seen.\u2019 Experts against such freelancers. The concept which demands attention is what we however believe that the gargantuan cost of $2.8 introduce as \u2018mutual sustenance\u2019 between robots and humans. The current situation is vulnerable trillion each year which this scheme would and demands full cooperation from all imperative variables. Collaboration over competition is what impose on the government would make it unsustainable in the long run. Although AI holds within its application the potential to eliminate a variety of jobs, there are still some aspects of human life which remain safe from such intrusion. In August 2017, Elon Musk-backed research lab OpenAI announced that it had built an AI bot that could beat professional e-sports players at Dota 2, an extremely popular multiplayer online battle arena (MOBA) game. Yet, no development in this field can seem to match the thrill of watching one\u2019s favourite sportsperson battle it out on a cricket Illustration 1 all major economies of the world should be looking at for us to progress as a species. The ground or a football field . Similarly, professions present framework comprising both Luddites, where empathy and human judgement is required the Gen-Z jargon for the ones opposing such as those engaged in counselling or therapy technological advancement and automation- need not be as wary of this technological freaks, the millennial lingo for the ones blushed revolution as those performing manual and over automation, delivers an idea apropos to the repetitive jobs. Creativity and empathy might","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- variety coupElecdutiwveit,h the greater emphasis on References striking abubtaVlaotnVhceoel..acTsoXhneVveIdnXitsViocIunssihoanss have been 1. https:\/\/www.vox.com\/recode\/2019\/11\/20\/20 aplenty not been 964487\/white-collar-automation-risk- challenged, yet. In the words of Isaac Asimov, stanford-brookings \u2018In a properly automated and educated world, 2. https:\/\/www.skynettoday.com\/editorials\/ai- automation-job-loss then, machines may prove to be the true 3. https:\/\/www.techinasia.com\/talk\/smart- impact-ai-white-collar-industries humanizing influence. It may be that machines 4. https:\/\/www.pwc.com\/gx\/en\/issues\/data-and- analytics\/publications\/artificial-intelligence- study.html 5. Graphical references as follows- a. https:\/\/www.skynettoday.com\/edit orials\/ai-automation-job-loss b. Bloomberg The Economic Times, January 7, 2020 (Kolkata Edition). Illustration 3 Illustration 2 will do the work that makes life possible and that human beings will do all the other things that make life pleasant and worthwhile.\u2019 So, are we ready to shun the ethos? Illustration 3","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- Ecutive, THEVoVol.asXVIXVI DOMINANCE OF THE GREENBACK Yash Bhushan ABSTRACT Aggarwal B.M.S., While an army secures a country it is the economic soundness that keeps the 2nd Year country breathing, a reason why -if one happens to look on the news they will St. Xavier\u2019s College notice- economic warfare is more prominent than ever. The dominance over the (Autonomous), foreign exchange market of the greenback \u2013 also known as the U.S. dollar- some Kolkata argue is one of the powerful tools of the United States in securing its position as world leader, understanding its timeline, (and how it changed the global economics), now is not only of great value but a necessity for in these dynamic times this decade beckons, it not only affects the economy of the United States but in the age of globalization each and every one, in terms of economics and beyond Introduction accomplishments of the conference Globalization was the game and the were the creation of the International U.S. dollar was the ticket to play the Monetary Fund (IMF) and the game. International Bank for The second world war saw massive Reconstruction and Development destruction globally, lives were lost in (IBRD).\u201d exSSplains a site of archives millions, poverty was rampant, global by the United States\u2019 State infrastructure was bleak and Department. economies of most nations were in a Along with the above something of morbid state. At this time, a need for massive implications took place. international cooperation was sensed Globalization with this conference as a necessity, a need for cooperation was taking a new step ahead, it was which would bandage, heal and well understood that economies would thereon lead to the incline of be open to an extent which wasn\u2019t international economies. With this in seen before, as an endeavor to take the mind the leaders of over 44 states met global economy out of the pit. A in the U.S. for the Bretton Woods major quagmire, although was every Conference which one can argue country had its own currency \u2013 as shaped modern global economics. prior to this only the gold standard \u201cThe Bretton Woods Conference, was used by most countries who officially known as the United engaged in international trade- and if Nations Monetary and Financial the level at which, the plan was being Conference, was a gathering of laid, for globalization to happen at, a delegates from 44 nations that met dominant, trusted world currency was from July 1 to 22, 1944 in Bretton required. The rules of the game -of Woods, New Hampshire, to agree globalization- were set, and with the upon a series of new rules for the support of Great Britain, the U.S. post-WWII international monetary dollar was chosen as the currency to system. The two major play the game with.","ETHOS The X-Ecutive, Vol. XVI the idea of devaluing the dollar against gold; in VoVol.asXVIXVIThe X- any event this would have required agreement among surplus countries to raise their exchange Two main reEascountisvec,ited for its selection were that rates against the dollar to bring about the needed the United SVtaoteVsohl.aadsXtVheIXlaVrIgest reserves of gold adjustment. Meanwhile, the pace of economic in its holding, and it was said to be the strongest growth meant that the level of international economy at that time which thereby allowed the reserves generally became inadequate; the application of the rules (which are given below). invention of the \u2018Special Drawing Right\u2019 (SDR) For no other country could match its competence, failed to solve this problem. While capital with little opposition - primarily from the Soviets controls still remained, they were considerably who claimed the Bretton Woods Accords was an weaker by the end of the 1960s than in the early attempt, to exploit for the proposed institutions 1950s, raising prospects of capital flight from, or would act as the \u201cbranches of the wall street\u201d-the speculation against, currencies that were accords were finalized. perceived as weak\u2019. The laws were as follows: \u201cA compromise of The Bretton wood system ultimately failed in the fixed-but-adjustable rates was finally settled 1970s because of certain reasons but the primary upon. Member nations would peg their currencies ones were \u201cBy the early 1960s, the U.S. dollar's to the U.S. dollar, and to ensure the rest of the fixed value against gold, under the Bretton world that its currency was dependable, the U.S. Woods system of fixed exchange rates, was seen would peg the dollar to gold, at a price of $35 an as overvalued. A sizable increase in domestic ounce. Member nations would buy or sell dollars spending on President Lyndon Johnson's Great in order to keep within a 1% band of the fixed- Society programs and a rise in military spending rate and could adjust this rate only in the case of caused by the Vietnam War gradually worsened a \u201cfundamental disequilibrium\u201d in the balance of the overvaluation of the dollar.\u201d as explained by payments\u201d. an IMF article, this saw a massive stagflation in Thus the U.S. dollar to gold system for global the United States economy, along with the above, exchange or popularly known as the Bretton it had been leaked that France would convert its wood system was born. This was a landmark dollar assets to gold, and Britain had also accord with far reaching implications. requested to convert $750 million of it U.S. dollar assets to gold in summer of 1971 in fear of fort Evolution Knox running out of gold, the U.S. president During the era of the Bretton Woods system, the Richard Nixon closed the gold window. world economy grew rapidly. The Bretton woods The Bretton wood system collapsed, and the system took on problems that had begun as back foundation of the floating\/flexible exchange rate as the First World War, and dealt with the system was born as it \u201cmade it easier for economic evils from the great depression and economies to adjust to more expensive oil, when from the Second World War, Keynesian the price suddenly started going up in October economic policies enabled governments to reduce 1973. Floating rates have facilitated adjustments economic fluctuations, and recessions were to external shocks ever since\u201d reports the IMF at generally minor, but when the governments the climate of the forex market post collapse of (which also consisted of the U.S.) , began Bretton Woods Accords. controlling imports and exports to offset wartime blockades, it ultimately lead to the manipulation Petro dollar of currencies to shape foreign trade. After the collapse of the Bretton wood system a It should be known that when a country\u2019s sense of alertness was persistent in the international obligations must be settled in a international community, for in layman terms the foreign currency, like in the case of Bretton US dollar could no longer be converted to gold Woods system, running persistent balance of and were just pieces of green paper, although payment deficits creates a risk of insolvency. with a promise attached to it, the promise was This in layman terms meant it was possible for a trusted less with every passing day because of the country literally to run out of money. \u2018A chronic U.S. trade deficit drained U.S. gold reserves, but there was considerable resistance to","ETHOS The X-Ecutive, Vol. XVI The U.S. has enjoyed its status quo of having the VoVol.asXVIXVIThe X- world reserve currency and benefits linked to it. \u201cThe world\u2019s willingness to accumulate dollar Nixon shockE, cauntidvea, fear that the growth seen in reserves in the post-World War II period first recent timesVwoVooull.dasXcoVmIXeVtIo an end. Thus the removed and later reduced the requirement of value of the greenback started falling in February maintaining balance of payments equilibrium, or, of 1973. \u201cOver the next decade, the price of gold more specifically, current account balance. By steadily increased to all-time highs. Nixon\u2019s removing or weakening this restraint, U.S. move, a desperate attempt at stopping inflation, policymakers had more freedom than failed to do so, as the world rejected the dollar.\u201d policymakers in other countries to pursue strictly To prevent a global loss of confidence in the domestic objectives. We ran current account greenback, the dollar needed to be connected to a deficits year after year, balanced, or paid for, by new commodity, something equally as well as capital inflows from our trading partners. The universally demanded. The U.S. found that good side of that was that we could import real commodity in 1973 during the Saudi-imposed oil goods and services for domestic consumption or embargo. Saudi Arabia was enraged by the U.S. absorption and pay for them with paper, or the support for Israel in the Yom Kippur War, and electronic equivalent. In other words, our had levied an oil embargo against the U.S. as contemporary standard of living was enhanced by punishment. Henry Kissinger led the diplomatic others\u2019 willingness to hold our currency without effort to end the embargo. In 1974, a deal was \u201ccashing it in\u201d for goods and services, or, before struck to end the Saudi embargo and bring U.S.- 1971, gold.\u201d explains a Forbes article. Saudi relations to previously unseen heights. This in itself is self-explanatory as to the benefits Eventually, they created the petrodollar system, it offers, the fact: \u2018the more reserves other where the U.S. and Saudi Arabia agreed to set oil countries keep the better for the U.S in broad prices in U.S. dollars in exchange for protection terms.\u2019 to Saudi Arabia\u2019s oil field. This meant countries Therefore it is not very hard to fathom as to why that purchased oil from the Saudi government the U.S. would dislike the idea of losing the would have to exchange its currency into U.S. status quo. dollars to actually enact the trade. Seeing Saudi With powers though, comes responsibilities, Arabia\u2019s lead the remaining OPEC countries while petrodollar gave status quo and benefits it followed suit and priced their oil in U.S. dollars. also forced the United States to have \u2018huge debts This system creates surpluses, known as with the oil exporting countries\u2019, something that petrodollar surpluses, which in turn enables the cannot be forgotten while understanding global oil exporting countries to have huge greenback conditions. reserves. The meaning to this in layman terms is one of the \u201cThese surpluses need to be recycled, which richest country in the world, borrows in means they can be channeled into domestic horrendous amounts -day in and day out- from consumption and investment, used to lend to countries poorer than it, while the idea might other countries, or be invested back in the United seem absurd reality is known to be stranger than States through the purchase of bonds and T-bills. fiction. The United States due to its status quo as This process helps create liquidity in financial the world reserve currency and being the markets in the U.S. By investing their surpluses, \u2018petrodollar\u2019 suffers from huge current account these exporters reduce their dependence on oil deficits in its balance of payments, thereby if one revenue\u201d this phenomenon came to be known as imagines a sword is dangling over the U.S. petro dollar recycling. economy one is not far from reality. Effects of the petro dollar Conclusion Now that a basic understanding as to its origins One of the first classes in economics taught to has been defined one can start to understand the any aspiring student is \u2018money has value if magnitude of the effects the \u2018petro dollar\u2019 \u2013which everyone believes in its value\u2019. happens to be respected as the global reserve currency- just offers.","ETHOS The X-Ecutive, Vol. XVI References VoVol.asXVIXVIThe X- 1. Bretton wood System Received from After the SecEocnudtivWe,orld War countries gave their trust to the UV.oSV. odl.oalslXarV, ItXilVl Ithe time they didn\u2019t, https:\/\/www.thebalance.com\/bretton-woods- for while the others played by the rules the mint - system-and-1944-agreement-3306133. the U.S.- (among other reasons which were 2. The end of the Bretton Woods System mentioned previously ) just seemed unaccountable, a lack of trust means \u2013and as seen Received from - a loss of value, which led to the introduction of https:\/\/www.imf.org\/external\/about\/histend.ht the petro dollar system, making it the ticket to m trade in the world\u2019s most important and needed commodity \u2018black gold\u2019 as its said, trust again 3. The rise and fall of the Bretton woods system rose and so did the U.S. dollar\u2019s value, ultimately leading it to become the world\u2019s reserve received from currency, which in turn gave United States https:\/\/www.americanexpress.com\/us\/foreign- unparalleled benefits. Thus, causing a shift from exchange\/articles\/bretton-woods-fixed- a fixed exchange rate system (which was seen in currency-exchange-rate-system\/ the Bretton woods system), to a more floating 4. How Petrodollar affect the us dollar received exchange rate dominant system. from Therefore it is trust that keeps the world or at https:\/\/www.investopedia.com\/articles\/forex\/0 least the economic world going in reality, but 72915\/how-petrodollars-affect-us-dollar.asp what needs to be contemplated is \u2018Is there still 5. The anti-dollar awakening could be ruder and trust? , Trust in the U.S. dollar or can one again expect a Triffin dilemma type situation again? \u2019, sooner than most economists predict from. \u2018Will the greenback be dethroned from status quo? \u2018If so who will replace it?\u2019 and, \u2018How will it Received from affect their dynamics in global financial and non- https:\/\/www.cnbc.com\/2018\/08\/27\/the-anti- financial areas?\u2019 dollar-awakening-could-be-ruder-and-sooner- With changing environments ,Strong players - than-most-economists-predict.html like the European Union, China, even India, with 6. The Bretton Woods Conference, 1944 a report by the IEA (International Energy Agency),predicting India\u2019s demand for oil, to received from overtake, China\u2019s by mid-2020 - The global call https:\/\/20012009.state.gov\/r\/pa\/ho\/time\/wwii\/ for countries to reduce their dependency on oil, 98681.htm and other stimulus, it is hard to predict with 7. Reserve Currency Status--A Mixed Blessing utmost accuracy ,as to what will happen to the received from future of the foreign exchange and international https:\/\/www.forbes.com\/sites\/bobmcteer\/2013\/ financial markets, but what one can be sure is the fight for dominance as the world\u2019s reserve 09\/05\/reserve-currency-status-a-mixed- currency is real, relevant, transforming and most blessing\/#2b0e98554e59 8. Saudis Threaten \u2018Nuclear Option\u2019 To Kill importantly already happening beyond a scale Petrodollar received from one might reckon it to be at, for as said in the https:\/\/oilprice.com\/Energy\/Energy- beginning it does not limit itself to economics, it General\/Saudis-Threaten-Nuclear-Option-To- never really does. Kill-Petrodollar.html 9. The Bretton Woods System received from https:\/\/www.gold.org\/about-gold\/history-of- gold\/bretton-woods-system","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- Ecutive, DEPAVRoVTol.aMsXVEIXNVIT OF MANAGEMENT STUDIES ANNUAL REPORT The students of our department have again and have performed extremely well on the continuously been scaling new heights. Be it in academic front. academics or co-curricular activities, they Through their hard work, determination, continue to strive and achieve the best. perseverance and continuous urge to achieve the Outperforming themselves every time, they have best, they have produced outstanding results in excelled in various field. the field of academia. Many of our students are currently pursuing their MBA in reputed B- Curricular Report Schools such as MICA, XLRI Jamshedpur, The students of Business Management Studies Narsee Monjee Mumbai, to name a few, while department have proved their excellence yet some of our students are doing their masters abroad. TOP 5 STUDENTS (BATCH OF 2017 \u2013 20) Roll Name Specialization Aggregate % No. 78 SHAAZ ALI AKHTAR Marketing 81.50% RASHI BARMECHA Marketing 81.09% 148 SAMRIDHI DALMIA Finance 80.38% MUSKAN AGARWAL Finance 79.91% 60 CHANDINI AGARWAL Finance 78.73% 58 42 Co-Curricular Activities behind our success was the team spirit. It helped NSS \u2013 The students of our department have been us realize our social responsibilities and made us extremely active in the National Service Scheme more mature and conscious human beings. We Cell of the college and their dedication to social shall cherish these memories forever.\\\" service is proved by their participation in various events of NSS like the Prayas Camp, Placements\u2013 The college, through its Placement Blood Donation Camp, Shishu Mela, etc. The Cell, provides the students an excellent Xavier\u2019s Management Society in association opportunity to get placements or jobs in with the NSS Cell celebrated Christmas with the renowned organisations. In the past academic children of Anandaghar, an NGO for children year, more than 100 students of our department affected with AIDS. Kirti Goenka and Ritika were selected in reputed organisations. Gupta have been leading this department from the front as the board members. They shared their experience- \\\"Our journey in NSS was an enriching experience. Getting an opportunity to lead the group was very challenging, but the reason 129","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- EVcouVtAiovleC.a, sHXVIEIXVVIEMENTS IN THE YEAR 2019 \u2013 20 Event Name Position Xamboree\u201919 (Business Buzz) Yash Chowdhury 1st Yash Chowdhury 1st Samridhi (Business Buzz) Yash Chowdhury 1st X-Calibre (PR & IR) Yash Chowdhury 3rd Samagam 2019 (Piece to Camera) Yash Chowdhury 1st Yash Chowdhury 2nd Bonfire-BESC (HR) Keshav Rateria 1st Clairvo (HR & PR) Ketan Pasari 1st Ketan Pasari 2nd Marquee (Marketing) Vishakha Kejriwal 3rd X-Calibre\u201919 (Marketing) Vishakha Kejriwal 2nd Insignia\u201920 (Marketing) Aashika Poddar 2nd Aamna Saamna (Debate) Devansh Agarwal 1st Bonfire (Blind Faith) Kalindi Khemka 1st Rahul Somani 1st Bonfire (Blind Faith) Rahul Somani 2nd Podium (International Business) Rahul Somani 2nd Podium (International Business) Khushboo Agarwal 2nd Umang\u201919 (English Premier League Auction) Shaaz Ali Akhtar 1st Umang\u201919 (Mutual Fund) Siddharth Prakash 2nd Bonfire\u201919 (Seal the Deal) Umang\u201919 (Darts) Insignia\u201920 (Best Manager) X-Calibre\u201919 (HR) The students of the department have also showcased their skills by taking part in several college events and emerging as victors. 130","Inconversaonwith JUSTICES.RAJENDRABABU The34thChiefJusticeofIndia. AlsoservedasthechairpersonofNational HumanRightsCommissionofIndia. WhatisyourbestmomentwithDr.APJ Do you feelthatreligious concepts or AWbhdeunlDKar.laAmPJ?AbdulKalamadministeredto sen ment play a signi\ufb01cant role in mesolemnisationofo\ufb03ceofChiefJustice in\ufb02uencingtheproceedingsofcases,and OfIndiawasthebestmomentwithhim. Rtheelirgeiboyusthefvreeerddiocmt? guaranteed in the AstheChiefJusceofIndia,howdiditfeel constitutionandwhilebalancingwithother tobeajudgeintheSupremeCourt?How rightsitshouldnotbeeroded.Andso,no AchsaalleJnugdignegIiseintjtooypeadsmstyhew\ufb01onrkalinveSrudpicrte?me negativity can be attributed to such CourtasIcouldinteractwiththetopmost freedom. lawyersofthecountry.ThetaskofChief Whatinspired you to takeup law asa Justiceistoleadcourtinharmonywith career?Whodidyoulookuptoasarole otherjudges.Ithinkscholarship,wisdom mMyodfealt?herwasajudgeholding several andsenseofvaluesinlifewithabilityto positions though district level, I was quicklygraspthematterinissuewilltake enamoured oflegalprofession.Several careof theproblem howeverknottyit persons shaped my career; including, maybe. lawyers who became CJI`s orAttorney Do you envisage any reforms in the generalsorAdvocategeneralsandIimbibed country's judicialsystem in the near fromeachoneofthemsomeskillorquality. fRuetfuorrem?canbesuccessfulunlessthejudicial Howeverthehallmarkhad beenrobust personnelisawareoftheirdutiesandthose commonsenseandintegrityinperformance recruited are wellequipped.E\ufb03ciency ofdutieseitherasalawyerorJudge. dependsupon theman discharging his Whatisyourmessage forstudentswho dutieswhatevermaybetherules. wThisehetnodpeuarvsouuerLoLfBsatusdaecnatrseoefr?lawshouldbe Whatare the changes one needs to understandandinterpretsoastobridgethe developinoneselfintheirjourneyfrom a gapbetweenlawandjustice. Alawlayweyretroraenjuddegrseainntohpeincioounrtw?hileajudge decidesa case.Transformation should equip the incumbent to change accordingly. As someone with an in-depth understandingoftheproceedingsofcourt, what measureswouldyou suggestto Dfaecpilietnatdesaumpoonrethmeealbyilrietysoolufthoenojufdcgaesetso? actquicklywithoutbeing hasty.In my experience several measureswere adoptedbutwassuccessfulonlywhenthe judge acted using measuresforquick disposal.","","SHIVANIRASTOGI GURLEENKAURBRAR TANUSHRI PREKSHAJAIN KHUSHBUAGARWAL JHUNJHUNWALLA Ittakesjustonestarto CollegeisnicebutI'm Puttingtopracticewhat BetweenXavotsavsand pierceauniverseof lookingforwardto TheO\ufb03ceSeason7 Ilearnincollege:LIFO dresscodes,threeyears darkness. leavingit. Episode19Minute principal(lasttocome #NEVERGIVEUP \ufb02ew by. 14:45. in,\ufb01rsttorunout). ANGSHUMANGHOSH PRIYANKVASA KUNALNAHATA GAURANGSHARMA VANSHIKAJAJODIA IwishIcouldsetrecord Umm..collegewas Collegeissoupand Whenthelastbell Somuchlifeinone scoresinmytest,just great.Probablythebest I'm afork. rings,Imightactually littleworld. likeIsetrecordtimein 3years.Italmostfelt athletics missthisplace. #most_memorable_years likeschool..ohwait. SHARNAM BOTHRA HARSHABAGARIA KUSHALSARAF SHIVANSHTIWARI VIDISHAGUPTA Theysaid\\\"collegeisthe I'm sorrydidmyface AllIwantisgood From notasking toknowing rewardforsurvivinghigh distractyoufrom my music,greatfriends, eachother'sname everythingabout school\\\".WhatcanIsay, brightlights,andlate those'holymessengers quote. foraweek eachother,we nights. becamebestfriends! ofgod'liedtome. MANN JAJODIA KETANAGARWAL GIRDHARAGARWAL KRITIKADAMMANI VANCIKAMALHOTRA Arollercoasterride Youaskedtoseethe Mysentenceisup.I'm Itwasallsomuch 3yearstoaddalineto withthebestcompany boss,sotheysentme, \ufb01nallyfree! coolerinmovies. myCV. aroundyoutotally dawgor sumsupthelifeofa \\\"Igraduated,callme Xaverian! big\ufb01sh.\\\"","KRITIKAMAHENSARIAPRIYALSAMIRVOHRA SAYAN DEY AAKANKSHASURANA RAHULSOMANI Worryinglessabout Thebest3yearsofmylife, \\\"Welcometothereal From listening \ufb01ttingintoglass \ufb01lledwithgrowth, world!Itsucks.\\\" professor'slecturesto slippersandmoreabout excitement&responsibility -MonicaGeller, mimickingtheirvoice, shatteringglassceilings. andalsotheamazingsetof F.R.I.E.N.D.S. friendsIcouldeveraskfor. weallgrew up. NISHITASOUMYA NIKUNJSHARMA ANNABELE.YONZON MDZAIDANSARI PRATEEKSHAH Thankfulforthese3 Seekids?? Where cessbegins. Whatinspiredmetowrite years... ItoldyouIlooked Oncea this? goodwhenIwasin Xaverianalwaysa Theduedate. readytomoveonnow. college. Xaverian. Andthusthe3yearswent by.... PIYUSHGOYAL BHAVESHMUNDHRA YASHASVINILOHIA KHUSHISINHA SHRRIJADAS FinallyGraduated!Phew. From strivingtoscoregoodto Ifopportunity InitiallyIusedtoget studyingonlyfew hoursbefore doesn'tknock,build straightA's,now Ican't exam,from makingnotebook foreverysubjecttorelyingon adoor. evenstandstraight. CR'snotes,from being strangerstobecomingfamily, mycollegelifegotover. RISHIKAGOEL GAGANLALWANI CHANDNIAGARWAL SHUBHANGIAGARWAL SHRISTIAGARWAL Library?Whendidwe Collegeislikelooking \\\"IwishIcouldcome Neverknew youcould Theworstthingabout haveone? bothwaysbeforeyou foronemoreday\u201d misssomethingyouhate. thisplacewerethe crossthestreetand saidnooneever. thengettinghitbyan people.Thebestthing aboutthisplacewere airplane. thepeople.","RIABOTHRA RAHULHIRAWAT BHAWNAAGARWAL ROHANBOSE VIHAAN SACHDEV Ifidiotscould\ufb02y, Anythinglowerthanmy Inmytimehere,Irealised Threeyearsagoifyou thisplacewouldbe SGPAistheir there'sachanceevenif askedmewhatmySXC willingnesstonotgive it'simpossible,because experiencewouldbe anairport. meone. it'sus.Doingtheright like.I'dde\ufb01nitelynot thingmeansmore. beabletopredictthis! SHWETAJHAJHARIA ANUBHUTIBHALOTIA BHAVIKJAIN FAISALHAQUE ESHAJYOTI Ispent2680hoursof SXC:Doyouseewhati mylifeforapaper see? andahandshake. Me:Ijustwanttoseea completeSocialC (credit). KARANAGARWAL MUSKANAGARWAL KETAN PASARI SAMRIDHIDALMIA ANKITEKKA Oneliner-Collegelife Beginingsareusually Collegewelcomed Greatistheartof Nothingworksunless isthebestlife!! scaryandendsare mewithwarmthand beginning,butgreateris youdo. usuallysad,butits welcomereferences. theartofending. everythinginbetweenthat makesitworthliving. HARSHARYA ANUSHREEAGARWAL NAMISHABOTHRA SAKSHIMANDAWEWALA VINEETKEDIA 3years!Time\ufb02ies! Startedwithasimple Lifeisunpredictableand Neverknew youcould Wedidntrealisewewere Andnomatterhow much hello,endedwitha soisSXC... misssomethingyouhate. makingmemories,we 75%istheonlyconstant! werejustmeetingpeople IHatedthiscollege,I complicatedgoodbye. wewouldonedaytalkto wanttodoitallover ourtherapistsabout. again.","KAVISHDOSHI AASTHAGUPTA HIMANSHIGANERIWALA SIMRANGUPTA AAKANKSHAAGARWAL Memorableexperiencein CanIpleasestayfor SoIprocrastinatedtill From sneakingintotheliftfor bothacademicandnon anotheryear? theveryendtosubmit gettinguptothetop\ufb02oorto -Saidnoone. thisquote,justlikethe almostgettingyourphone academicareas.Exposure restofmycollege con\ufb01scatedfortheumpteenth totherealworldwhichI assignments.GodBless. numberoftime,theTHREE didn'tknow existed. GOLDEN YEARShappened! SANSKARJALAN PRITIKHERIA SOUMYAMUSKARA RITIKABORAR SHAAZALIAKHTAR Theysaid\u2018NOTHING WithoutGoogle,Iwould Icanmakeyoufeel I'vehadmorethird BEYOND\u2019soImade notbegraduating. badabouttaking wheelsthanfriends. sureIwasHIGHand gooddecisions. onlywentHIGHER. DARSHANIRANPARA SONALIGUPTA VANSHIKASARDA NEHASINGH SHIVANGKASERA Themostattractive Icanbelievehow Inthese3years, CanIspeakabout Ihavescoredmorein accessoryagirlcanhave quicklytimepasses. Ilearntmore schoolinstead? collegethanexpected. isCONFIDENCE. Peace! managementoutside Me=50%Savage, classthaninsideclass. 50%Sweetnes. SRISTISHAW SOUMIKDEY POOJASINGH PRACHIAGARWAL MAYANKGOENKA BeCuriousnot Onepurpose. Spentimpressive Atleastnow wewill SiriusBlackwouldhave judgemnetal. Onemission. hoursoverthinking gettoknow thenames preferred12yearsin Onedream. andexceptionalhours 75%Attendance! overdrinking:Cheers ofeveryone!! Azkabanover3yearshere. toPourDecisions! #xaverians","HARSHITGOEL RASHIKHANDELWALVINEETA.MALIAKAL NISHKARSHSACHDEVA SAURABHBAGADIA & inbetweenfreshersand PickybutIpicked Ifyou'rereadingthis, Beforeyoujudgeaman, Itreallydobelikethat farewelllifehappened. Xavier's. itstoolate walkamileinhisshoes. sometimes,causethere \\\"from agarden, Afterthatwhocares? ismorethanwhat tohoe-gaardenweall He'samileawayand meetstheeye-given you'vegothisshoes! grew up\\\". mystature. MANAVBAJORIA NISHANTNIGAM CHETANKR.PODDAR YASHASHVIPAROLIA CHERRYKHEMKA Findyourselfa .....thewaywelookat Happinessiswakingup, Collegeisarefugefrom Whensiridoessomething bestfriendwholooksat eachother. lookingatthewatch hastyjudgements. forme,Isaythankyou and\ufb01ndingthatyou you..... andthat\u2019sprettymuchall stillhave15minutesleft youneedtoknow about tosleep!! mypersonality. AMBREEN ASLAM DEVISIAGARWAL AASHIMANDAWEWALA SASHREEKAGARWAL HIMAYSHETH Idon'twantpeopleto Collegeislikelooking Hasbeensuccessfully Rememberingnames, Lovestoriesstartedand sayI'vechangedonce bothwaysbeforeyou releasedfrom herthree pronouncingnames endedincollege,my crossthestreetand andseeingmyname loveformySweetyis I'm famoussoI've thengettinghitbyan yearsentence. ontheCFApasslistis eternal. intentionallybeena nightmaresinceday1. airplane. notmyforte. STEFFISAMUEL SIMRAN KHAITAN KARANKHANDELWAL RITVIKKOTHARY DARSHINIAGARWAL Smileyouidiot!Lifeis Acceptyourself,love Thedean(thinks)he Cheatersneverwin, Collegewasawesome: tooshorttofrownall yourselfandkeep hasmyphone. butIjustgraduated. saidnooneever. movingforward. thetime.","RASHIJAIN SHALINIMITRUKA PRACHIAGARWAL KIRTIGOENKA RITIKAGUPTA Ispent4380hoursofmy lifeforapaperanda handshake. PRANAVBAGARIA ESHAGARODIA KARAN NAHATA ANKITSRIVASTAVA ANKITATIBREWAL Nomatterhow muchyou Itishittingmehardthat If tomorrow isn\u2019t the AplacewhereIcould hatecollege,themoment Iwillnotbesleeping duedate,todayisn\u2019tthe sleeppeacefullyandjudge yourealisethatitis hereanymore. dodate. wholeheartedly!Itwasn't comingtoanend,you wantittolastforever. actuallythatuselessasI expectedittobe! SAKSHISHARMA DEVIKAAGARWAL MEGHADEY YASHRAJSIROHIA NIDHIBHATTAR Igotkickedoutof Here\u2019stomasteringthe 3yearsofcollege,more Ifnoonecomesfrom Aconstantbattleof Hogwartsforusing artofmaintainingthe like3yearsofmeex- thefuturetostopyou shouldIworkout,eat, worstattendanceand from doingitthenhow study,socialize,orcry. blackmagic. gettingawaywithit! plainingtopeoplewhyI badofadecisioncan AndhereIam! cameherefrom Delhi. itreallybe? 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VEDANSHJALAN VANSHIKAKANKARIA SAGARSAH KRITISHAH PRANAVPAGARWAL Marketingwasmy Iftheycanmake AttendenceatKolaghat IwishImadedecisions A place where I could secondoption.... penicillinoutofmouldy wasgreaterthanin asfastasIspeak. sleeppeacefullyandjudge Financewasn'tthe\ufb01rst. bread,theycansuremake classes. wholeheartedly!Itwasn't somethingoutofyou. actually thatuseless as I expectedittobe! RASHIBARMECHA HARSHITAGOENKA KHUSHBOO AGARWAL RAGHAVLOHIA RITIKAGUPTA Tothreeyearsof100% Youobviouslydon't Was\ufb01nallyreleasedafter Theo\ufb03ceseason7 schoolexperience! comprehendthelevelof 3yearsofsentence. episode19minute14:45. insaneIoperateat. ANIKETSHAH AKASHKUMARJHA MUSKANAGARWALLA Ididallofthisfora pieceofpaperanda handshake.","CLASS OF 2020","CLASS OF 2020","CLASS OF 2021","CLASS OF 2022","","","","","",""]