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Thursday, May 31, 2007

Reddy, Steady, Stop!


IIPM MANAGEMENT INSTITUTE

After hiking the repo rate five times since June 2006 and Cash Reserve Ratio (CRR) three times since December, the wisdom of supply side inflation finally dawned on the RBI Governor Y. V. Reddy. The monetary policy announced by RBI on April 24, 2007 was met by sighs of relief from consumers along with rejoices from the bankers. This time around, Reddy refrained from hiking repo, reverse repo rates and CRR; throwing the ball in P. Chidambaram’s court, as Inflation is still above the 6% mark. Apart from tackling the issue of inflation, RBI also expressed concern over rupee appreciation which is stronger by almost 6% since March and is a serious issue for India’s exports, especially for the IT companies.

Aimed at restricting further appreciation of rupee, RBI announced a number of measures to lower the inflow deluge, encouraging money to flow out of India. Some of them are: Overseas investment limit (total financial commitments) for Indian companies has been enhanced to 300% of their net worth, listed Indian companies' limit for portfolio investment abroad in listed overseas companies has been enhanced to 35% of their net worth. Also, the present limit for individuals for any permitted current or capital account transaction was increased from $50,000 to $100,000 per financial year in the liberalised remittance scheme.

However, the question is: What about the consumers who bore the brunt of overnight hike in interest rates and paid more for their loans? Will they get some relief if rates stabilise?

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Source :
IIPM Editorial, 2007

An
IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Thursday, May 24, 2007

IIPM Release :- A perspective change in ‘talent acquisition’ that pulled through and became the answer for ‘talent retention’


IIPM BUSINESS & ECONOMY

“The big challenge at Bausch & Lomb was that people engagement and retention needed a fresh introspection on the whole approach to talent acquisition,” says Uttam Ghosh, Head-HR of Bausch & Lomb Eye care (India) Pvt Ltd, while he takes us through the journey of attrition (not so admired by most organisations), and the turnaround the company brought about to consolidate its numero uno position in the Indian eye care industry. Bausch & Lomb concentrates on three businesses – Vision Care, Cataract and Refractive. Notably, the Vision Care division operates through distributors in the country, to service its ophthalmologists, optometrist, optical & chemist customers, while the key accounts for their Cataract and Refractive business are ophthalmologists.

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Source :
IIPM Editorial, 2007

An
IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Friday, May 18, 2007

‘Coz we are so different!


IIPM MANAGEMENT INSTITUTE

ABN Amro & Barclays complement

It’s official now! In a deal worth a whopping $91.2 billion, which would go down as one of the largest in the financial services domain till date, Barclays has merged with Dutch banking giant ABN Amro. The newly formed entity will now be named as Barclays Plc. and will be one of the largest banking entities on earth, boasting an employee strength of 22,000 and a staggering customer base of 47 million.

ABN Amro is also disposing off its consumer banking arm at the La- Salle Bank by selling it to Bank of America for $21 billion as a part of the deal. This revenue generated will be passed on to the shareholders of the new company through share buy-backs. Commenting on the merger during the announcement of agreement, John Varley, CEO, Barclays said, “This proposed merger represents a unique opportunity to create a new competitive force in financial services, which will deliver benefits for our customers and clients and generate sustained growth and additional value for our owners... ” There are also expected to be around 23,600 jobs, out of which over 10,000 will be lost from the low cost destinations like India.

States Kerry Grant, Analyst, Louis Capital Management, “Barclays will have a pretty tough time replicating its success in the US.” The major challenge will be to enhance the weak presence of the combined entity in Asia, where there are just 67 branches, that too, of ABN Amro. The complementarity of their operations is going to be their major strength.

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Source :
IIPM Editorial, 2007

An
IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Monday, May 14, 2007

Your yearly ‘fix’


IIPM BUSINESS & ECONOMY

FDs have become the most lucrative
For all those who’ve been cribbing about interest rate hikes, take heart, as the liquidity crunch in the banking sector has forced banks to raise interest rates on fixed deposits too, in order to mop up more funds. As Sumit Bhasin, DM, RLBP, Kotak Mahindra puts it, “There has been a change in the CRR (from 5% to 6.5%), so in order to maintain reserves in the banks and for lending money, the Fixed Deposits rates needed to be increased.” As for customers, the high deposit rate scenario (touching 11.3% a year, for bulk deposits) presents a super opportunity. Higher returns, coupled with shorter lock-in periods and insurance freebies under the Deposit Insurance & Credit Guarantee Scheme, are making these offers more lucrative.

But it would be sensible to note that while there is no ceiling to avail the benefits, to reap effective interest offerings, a minimum deposit of Rs.1 lakh is a must. Moreover, in several cases, no interest is paid if the deposit is withdrawn before the lock-in period expires. And of course, all the interest earnings are taxable. Sigh, there goes our yearly ‘fix’!

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Source :
IIPM Editorial, 2007

An
IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Wednesday, May 09, 2007

You can play Kylie again & again!


IIPM MANAGEMENT INSTITUTE

Apple has won a contest. And winning it was considered as unrealistic as Bermuda winning the ICC Cricket World Cup! But it happened, not for Bermuda, but certainly for Apple – music will finally become free of restrictive digital rights management (DRM) soft ware. This happened after Apple recently shot off an open letter urging music labels to stop eyeing their DRM soft ware, and instead entirely free the music from such protection software.

Importantly, EMI and Apple have joined hands to allow users buy DRM free music, which is far higher in sound quality. In fact, even official music videos will be available minus DRM contracts. “By providing DRM-free downloads, we aim to address the lack of interoperability, which is frustrating for music fans. The opportunity to buy higher quality tracks and listen to them on the platform of their choice will boost sales of digital music,” says Eric Nicoli, CEO of EMI Group.

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Source :
IIPM Editorial, 2007

An
IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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IIPM : EDITORIAL & RESEARCH
IIPM going global
On "IIPM - Arindam Chaudhuri - Planman"
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IIPM Publication :- Electronically Yours
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IIPM & 4Ps Release :- Search me if you can, lazy bones!
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Wednesday, May 02, 2007

Sex education

16 going on Sex-teen

Exclusive Survey: Sex and the city

Sexual abuse rampant in schools
The game of power equation has enveloped girl children in schools. Increasing violence including aggressive sexual behaviour, intimidation, assault, sexual advances by teachers, corporal punishments and verbal abuse are more becoming a norm rather than an exception in schools. Studies show that even in so-called ‘women-friendly’ states like Punjab, around 39% women have experienced some kind of sexual harassment and a pitiably huge 15% of Secondary school girls have been sexually abused. These incidents get worse in government schools, where currently 58% of schools (out of 800,000) don’t even have any toilet facilities for either sex. Well, it’s of little comfort then that the most dreaded spots of these horror acts have mostly been near the toilets (and empty classroom and even corridors). There have been rampant reports of rape, molestation and even corporal punishment to girl students, from almost all the states of the country. So who is to be blamed? Clearly, a combination of our policing & judiciary that has criminally ensured that rather than painfully fighting a case for years in courts, women simply remain... painfully quiet!

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