The Perspective_Dec

The Perspective IMT.......... Lead The FuTure

December 2010

Corporate Communication and

Media Relations Committee

IMT Ghaziabad

The Perspective DECEMBER 2010

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“Events are manifestation of what was created first in thought” Dear Readers, The world’s a stage and IMT Ghaziabad is no exception. There are rules, there are processes, there are people and then there are EVENTS. In this issue we bring forward to you some of the best events organized in IMT-Ghaziabad that has over the years made our students richer in experience. PASSION and TATVA 2010 – Annual Management and Cultural Fest of the institute have proved, time and again, over the years, that success lays collaboration. There was a tremendous amount of co-ordination and synchronization put in by Students Activity Council. At every stage of development we also received immense support from the faculty in the form of guidance and encouragement and thus PASSION won. This was reflected in host of other events of gigantic scale like PRATIGYA – a unique social initiative by IMT. Other events like Nivesh Mantra by Investment Club -Finnacle, Dasna Jail visit by social Club-MADF, 1990 batch reunion and preparations for All India Alumni Meet by Alumni Relationships committee were underway. In the pleasant weather of November, students of the institute felt the heat as Sports committee gave competition a non-academic angle via sports like Basketball, Volley ball and Cricket. Oh! We forgot, there was plethora of quizzes, examinations, project preparations etc which adds to the beauty of making versatile future leaders. At IMT, we have always struck a balance and have excelled. Finally, there is palpable excitement at the IMT as Placements gear ups is underway and as history would speak for our students, flying colours awaits us. We hope you enjoy this issue as much as we enjoyed putting it together. As always, we look forward to your feedback. Please email at [email protected]

Happy Reading!!

mailto:[email protected]


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Index

Article Page No

Editorial 2

Passion ‘10 4-6

Marketing World Cup 7-8

Colloquium 9-10

Nivesh Mantra ‘10 11-12

Pratigya 13-14

Hoopla 15-16

CHALLENGES IN MICROFINANCE AND THE WAY AHEAD

17-19

Quiz-O-Mania 20-25

Life @ IMT Ghaziabad 26


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PASSION’10

Passion is the annual management and cultural festival of IMT Ghaziabad. It is an

opportunity for students from crème de la crème institutes of the country to showcase what

they have learnt through the curriculum and experience the practical aspects of management

right here on our campus. Passion is a melting pot of events, competitions, case studies and

seminars and allows students to participate in a simulation of real world business scenarios.

On one hand, intense business competitions in

the morning fuel rivalry among the students

whereas on the other hand, the evening sees

them enjoying in blithesome cultural events,

full of excitement and entertainment. It is a

mammoth event where the energy and

enthusiasm of thousands of students flow non-

stop for three days. This year Passion was held

from 26th to 28th November, 2010.

Theme – Dare

“Dare to err and to dream. Deep meaning often lies in childish plays”. The theme of Passion

’10 was DARE. Risk-taking and entrepreneurship is at the foundation of the thought process

of today’s youth and Passion showcased this daring spirit at its best.

In coherence with the theme “Dare” events revolved around innovative groundbreaking

business ideas, management and leadership in the times of uncertainty, coming up with fresh

& daring business concepts and a higher level of problem solving.

The star event - Ace of Spades

A 48 hour marathon designed to test contestants on skill, knowledge, business acumen,

decision making abilities and also on stamina, creativity and presence of mind.


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The Business Quiz

It is a platform for budding managers to

showcase their biz-gyaan and presence of

mind. This year, the business quiz was

hosted by the inimitable quizmaster Mr.

Avinash Mudaliar.

Management Events

All the academic and non academic clubs of IMT Ghaziabad organize events in Passion,

aligned to their respective verticals and relevant to current business scenarios.

Some of the events in Passion ’10 were

focused on business challenges such as brand

revivals and repositioning, re-launching,

introduction of new products and services,

reengineering, equity research, trading on the

stock exchange, handling human resources

issues and selling in the international

commodity and geographic markets.

Cultural Events

Various cultural events like a DJ night, dance competition, antakshari, vocal music

competition, painting competition and a star night were organized.

The main attraction of the star night in Passion’ 10 was the performance by ‘Advaita’ and

‘Bare Faced Liar’s’ – contemporary bands from Delhi, which are most popular amongst

eclectic fusion and rock and roll fans, respectively.

Participation

This year IMT witnessed participation of 40+ B schools from across India and a foot fall of


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1000 + students from premier institutes like IIMs, FMS, MDI, XLRI, Welingkar Mumbai,

IIFT, IITs, NITIE, SIBM Pune, etc.

Sponsors

Some of the esteemed sponsors for Passion’ 10 were

Vodafone, GAIL, Coca Cola, Levi’s, Ibibo, Reliance

Industries Ltd, ONGC, Indian Oil, SAIL, Oriental

Bank of Commerce Ltd. etc.

TATVA’ 10

TATVA, the Inter B-School Summer Internship Competition of IMT Ghaziabad, is a unique

platform for young minds from B-schools across the country to showcase their talent, efforts

and ideas implemented during their summer projects.

“Tatva” stands for the five elements of life - Vayu, Jal, Prithvi, Agni and Antariksh. It

emphasizes the five elements of success - hard work, knowledge, attitude, the ability to

improvise and the ability to generate ideas.

Entries were invited from all eminent B schools across the country. After a rigorous process

of elimination and selection by an esteemed panel of judges from the academic and corporate

world, the best five projects were selected from four different specializations i.e. Finance,

Marketing, Human Resource and Operations.

TATVA, held a day before Passion, was a roaring success. The resurging economy and

reviving hiring patterns induced greater and more enthusiastic participation than ever before.


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Marketing World Cup “You never really know how quick you are before you reach the finish…”

Race for admissions, race for jobs, race for promotions; one never stops racing against competition. Races have become a way of life.

Club MarkUp’s annual inter B-school marketing extravaganza Marketing World Cup 2010’s theme was “RACE”. From among the qualifying round entries from 100+ teams, 25 teams and 125 participants qualified for the Race Days on 4-5 December 2010, where they contested on 5 tracks of core events and faced 3 pit-stops of on-the-spot events in the race to the ultimate marketing honor, MWC ’10.

On Race Day 1, we had dignitaries like the AGM of Punjab National Bank Mr. Vinod Joshi gracing the inaugural ceremony. Dr. Sanjay Kumar, Chairperson, Student Affairs of IMT, Ghaziabad Singh declared the event open with the auspicious lighting of the lamp. And so began the marketing mayhem.

We had 2 core events being held simultaneously – Vanguard which focused on Go-to-market strategy for Religare Health Insurance & Home Loans and Get. Set. Gold that was based on a gold coin trading strategy for PNB. Vanguard was a closely fought race with Aashayein (IMT-G), WE marketers (Welingkar, Bangalore) and Moksh (NITIE, Mumbai in the fray till the last but ultimately Aashayein won the race with We marketers being the runners up. On the other hand, Get. Set. Gold, based on gold coin trading, had a nail-biting finish with Mindscrewers (IMT-G) crossing the finishing line just ahead of 3 teams as we had a 3 way tie for the 2nd spot which was shared by Naya Daur (MICA, Ahmedabad), Aashayein (IMT-G) and Mantra (IIM-Raipur).

In the evening we had our first on-the-spot event, a press conference at the amphitheatre where we had 11 teams defending their companies from the Line of Fire. After grueling cross-questioning from opponents and the judges, Team Fixed Deposit (IMT-G) came out as winners whereas Mindscrewers took the 2nd spot on the podium. This was followed by the twazziest event, a quiz on Twitter, Twizmaster – beat the tweet where contestants had to direct message the answers to the questions being updated on www.twitter.com/markupimt. But the night was not over yet as MarkUp in collaboration with the Cultural Committee of IMT organized the Bollywood night where we had a bonfire and on-the-spot contests.

On Race Day 2, things got even more intense and exciting as a lineup of 3 core events and one on-the-spot street play based event set the adrenaline pumping. We flagged off the day with Acer’s event Concord as teams presented co-branding and social media strategies for global leader Acer to improve upon its 3rd rank position in India. The judges, Mr. Amit Khandelwal, Regional Sales Manager at Acer India Pvt. Ltd. and Mr. Ajay Davessar, Global Head for External Communications at HCL Technologies Limited grilled the participants for 2 hours before Masterminds (IMT-G) were declared 1st whereas 008 (IMT-G) came a close second. While these teams were presenting co-branding strategies at Concord, 8 teams were presenting their repositioning strategies for Paras Gold, an edible oil brand, as part of the event Oilchemist. Team Pandavas (IMT-G) won the top honors while Oilmerchants (MICA) tied for the 2nd spot. The 3rd core event Proximix based on proximity marketing, was a nail biter as 008 and Mindscrewers (both from IMT-G) tied for the first spot and this finish

http://www.twitter.com/markupimt


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repeated itself in the on-the-spot event Road to Eden, as we finally came to the end of the events.

The closing ceremony arrived and the contestants were all revved up to know who would take away the coveted Marketing World Cup of 2010. Also on offer was a sleek netbook from Acer. Club MarkUp extended its vote of thanks to the guests of honor, Dr. Sanjay Singh and Mr. Amit Khandelwal and all the participants. This was followed by the launch of Markezine’s first printed inter b-school edition based on the theme ‘Sports Marketing: Challenges and Opportunities’ by Mr. Rohit Dhuwad, coordinator of MarkUp (2008-09). And finally the moment for which everyone was waiting for arrived as Mr. Mehul Sangoi from Paras Gold unveiled the winners of MWC ’10 – Team Aashayein to the sound of a thunderous applause. Mindscrewers took away the runners-up trophy, having lost out by a mere 9 points. Dr. Sanjay Singh lauded the efforts of the Markupites for having put up a grand show that lived up to the reputation of MarkUp and definitely raised the bar for MWC’11, as the curtains were brought down on MWC ’10.


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COLLOQUIUM "Experience is the best teacher" With a belief that the best-in-class management education is the one learned with direct interaction with the corporate world and carrying forward the baton of learning HRuday, the HR club of IMT Ghaziabad organised its Annual National HR Conclave on 16th of October at IMT campus.This year COLLOQUIUM proved to be a step ahead of its previous edition with 25 corporate honchos sharing their thoughts and experiences with students on campus. This year COLLOQUIUM also reached out to a wider audience with new addition of inter B School competition in which teams from top B schools like IIM I, IIM L, IIM S, SCMHRD, IMI, BIM, Trichy,TAPMI participated. The event had first session in form of Inaugural discussion in which top echelons of corporate make their presence felt and discussed the changing role of Human Resource manager from merely being a recruiter to strategic level. The topic for discussion was “HR as a Strategic Partner”. The notable dignitaries present in the discussion were Mr. Binayak Bhagchi, Director HR- Quest Diagnostics, Mr.V.B. Lal, Vice president HR, Moserbaer, Mr. Vinay Gupta, Rtd. Vice president HR, Jaypee Associates and Mr. Ronesh Puri, Managing Director, Executive Access and Cdre. B.R.Chawla, Professor, BVP. The focus of discussion moved from the era of labour oriented industries in late 70’s or 80’s where more focus was on the employee hiring and paying to the today’s era where the service industry dominates and usually drives the GDP of a country. The strategic importance of employee retention and engagement was also discussed. The panel discussions proved to be the most exciting sessions as both panel discussion were quite interactive with students making their strides in between the flow of thoughts of the corporate bigwigs among them the most noteworthy were Mr. Anuj Bhaskar, Director, Arteva Consulting, Mr. Rajiv Kumar, General Manager HR, NIIT Tech. Ltd, Mr. G. Sivasubramanian, General Manager HR, MMTC and Mr. Basant Tripathi, HR Operations, Huawei Telecom. The first panel discussion was on “Careers in HR – Change from transactional to transformational” owing to the more value given to human being as a resource in industries. The discussion became more interesting when Mr. Balsubramaniam brings the ancient philosophy of Mahabharata into the picture along with a new dimension in form of transcendental role of a manager. Student shows inquisitiveness regarding the ancient idols donning the cap of modern day manager and it turned out as the bridge between past and present. The second panel discussion was on the “Transition of the student manager to the corporate manager” and the relevance of the bookish knowledge in more practical aspect of the corporate world where a lot other major factor influence the decision making. The esteemed speakers for this discussion included Mr. Abhishek Kumar, General Manager HR, Tata Indicom, Ms. Jovina Priyanka, Head Talent Management, Aircel, Mr. Rajiv Talwar, AVP – HR, Uninor and Mr. Suresh Tiwari, CEO, Corporate Spectrum. The discussion went on to discuss the aspects which a HR manager looks while on campus for recruiting creating a lot more participation from students.


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The inter B school Event – Jiyo Utho Badho , an Inter B School event, despite being the new entrant received warm response from top B Schools all over the country such as IIM I, IIM L, IIM S, SCMHRD, IMI, BIM Trichy,TAPMI. The basic theme of the event was competency mapping of volunteers for Common Wealth Games. Also, the finalists had to formulate a video to attract volunteers for CWG. Among the finalists, the team Trinity comprising of Neha Jain, Aastha Jain and Suchismita Sahoo from IMT Ghaziabad eventually bagged the COLLOQUIUM trophy. The first runner up team was also from IMT Ghaziabad while the second runner up team was from IMI Delhi. By Rakesh Purohit


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NIVESH MANTRA ‘10

Finnacle Investments, the asset management club of IMT Ghaziabad, organized for the first time, an investment conclave viz. Nivesh Mantra on the 22nd and 23rd of October 2010. This event was aimed at inciting the interest of budding managers in market investments and educating them about the same.

Nivesh Mantra kicked off on the 22nd with the inaugural function, which also showcased an informative session on “Investments by PE Firms” by the chief guest and keynote speaker for the day, Mr. Savan Godiavala, Director, Deloitte Consulting. The inaugural function was followed by a session on “Wealth Management” by Mr. Siddharth Chaturvedi, Deputy Vice President Reliance Capital – Head North India. After a short break for lunch, enthusiastic students reassembled in the auditorium for the final learning session of the day on “Trading Strategies” by Mr. Gagandeep Singh MD, Merits Capital. The first day ended with a panel discussion on “Currency Trading and Future Scope in Indian Market”. The esteemed panel members - Mr. Aloke Nandi, Founder and Managing Director, Ascent Forex Consultants, Prof. Dr. Gireesh Chandra Tripathi, Tejas Seth, Associate Vice President SMC Capital, were assertive in their inputs and under the direction of the moderator Prof. Alok Kumar, successfully analyzed all pertinent issues concerning India’s formal venture into Currency Markets. First on the agenda for day two was the Inter B-school Paper Presentation competition adjudicated by Mrs. Keerti Sharma – Manager Accounts, Vatika Ltd. and Ms. Prateechi Agrawal, Head of Accounts department, IMT Ghaziabad. Five teams came up with innovative ideas and presentations to showcase their technical skills and the event was an overall success. “Trade on Spot”, a conventional trading simulation, was a competition cum game for the students of IMT-G and the last scheduled event for the conclave. This intra-b-school competition, to the delight of the participants and the spectators went late into the evening and the race to the top position was a photo finish.

The Paper Presentation Competition was won by two participants and the “Trade on Spot” event was won by two teams. Winners were awarded certificates and discount coupons also, courtesy dominos. The title sponsor for the event was Reid & Taylor and the associate sponsors were Punjab National Bank. The event was covered by the media sponsors - Zee Business. The hospitality partners for the event were Dominos.


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Nivesh Mantra ’10 met with a good response and was, quoting the participants, “both educational and fun”. As a maiden attempt by Finnacle Investments, the success of Nivesh Mantra makes us anticipate the next Finnacle event with much enthusiasm.

Compiled By Prajnasmita Rout


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PRATIGYA 13th November, 2010 was the date when IMT saw a huge participation for its social initiative in the form of a student body called Pratigya which was formed to create awareness about various social issues such as anticorruption, child education, women empowerment, etc.

The entire team of Pratigya worked under 5 main divisions: Neev, Swashakti, Jagruti, Swachhata, Suraksha. Through Neev, 16 poor children are being provided training in table tennis, lawn tennis and football, on the IMT premises. All the sports equipment has been provided by IMT Ghaziabad and IMT will also be involved in providing free education to these children. The most heartening fact is that all the children are very enthusiastic about learning sports as well as gaining knowledge. IMT students also visited 3 MCD schools in Ghaziabad and spent a day with the students there, inspiring them to work hard in future

through interactive competitions, motivational videos and counseling sessions. Swashakti is an initiative directed at empowering women. This initiative has also been well received. 11 women have been identified from Nandgram village and are being taught to make jams, pickles, tomato ketchup etc. by a government approved trainer. Once the training period is over IMT will be assisting them in

starting up their own businesses, which the women are very eager to accomplish. Jagruti, an anti-corruption and energy conservation drive was conducted at Shipra, Pacific and Gurgaon Central malls. The people were educated on the social issues like anti-corruption, water & energy conservation etc. by distributing cards, conducting quizzes. The students of IMT also conducted drawing competitions for children in the areas of global warming, energy conservation, etc. The children's parents were asked to suggest measures to conserve water and electricity. People were encouraged to share their experiences relating to corruption and requested to take a pledge against ill practices like bribery. Goodies like IMT T-shirts were also distributed. At South Extension in Delhi, the students of IMT through "Swachatha" were involved in cleanliness drives. Students cleaned some places, educated people about the importance of cleanliness and distributed dustbins to hawkers. Suraksha was an initiative organized at IFFCO Chowk in Gurgaon, Nehru Place in Delhi and Atta market in Noida. The students actively undertook the task of ensuring traffic discipline. When the traffic light


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turned red, the students would rush to the zebra crossing holding placards about traffic rules and ensure that no vehicle crossed the zebra line and violated any other traffic rule. Fliers were distributed at all junctions asking people to follow traffic rules. The students exhorted thousands of drivers to turn off their engines (thus saving a lot of fuel and avoiding pollution). They also convinced many to wear helmets and fasten seat belts. Pratigya created a major impact in Delhi/NCR and received mass support and appreciation. Around 25000 fliers were distributed and more than a hundred thousand people impacted. The event involved more than 350 enthusiastic students from IMT and was a resounding success. IMT Ghaziabad wishes to undertake more such initiatives in the future and is committed to the betterment of society.

By Amrita Mishra


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HOOPLA

The best teams have chemistry. They communicate

with each other and they sacrifice personal glory

for the common goal.

Dave DeBusschere

Hoop-la the basketball event of the League of Titans

was a much awaited event by the Sports Committee

and straight after the Run-Bhoomi event. IMT

Ghaziabad as always been known for its Basketball team in the B-school circuit and have

won many events.

So now it was time to showcase some energy, talent, team spirit and accuracy. The build up

to the event itself was breathtaking with teams practicing till the wee-hours of the morning

and trying out new strategies to outscore their opponents. The enthusiasm aroused by the

sports Committee for the event through posters and cut-outs was highly appreciated.

I have missed more than 9,000 shots in my career. I have lost almost 300 games. On 26 occasions I have been entrusted to take the game winning shot, and I missed. And I have failed over and over and over again in my life. And that is precisely why I succeed." -- Michael Jordan

The game of basketball actually can teach the biggest lesson in life to try until u Succeed.

The opening game of the event was Between Executive Batch and one of the favorites IB

team. The next match saw another favorite on the

court and the spectators couldn’t have asked for a

better start. As expected both the teams easily

outscored their Rivals.

As it happens in Tennis we see the two favorites

Venus Williams and Serena Williams Meeting in


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Finals it wasn’t a different story round here. The Final was scheduled between B1 and IB.

But before the finals SAC had something in store. PASSION 2010 was launched just before

the finals in the basketball court in-front of the whole college. There were fireworks and the

energy was soaring.

The final was a hard fought one. Some lovely passing, exquisite dribbling and shooting which

would make any player proud. And to keep the players in High spirit the court side music was

played by Sports committee during the quarter breaks.

Finally the defending champions B1 emerged the champions yet again. Karan Vir was

awarded as the Emerging Player of the tournament.

But the end of HOOP-LA was followed by build up to PASSION 2010.

By Nimesh Gupta


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CHALLENGES IN MICROFINANCE AND THE WAY AHEAD

Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.

Bangladeshi banker, economist and Nobel Prize recipient Mohammad Yunus first developed the benignant concepts of microcredit and microfinance. Microfinance is a tool of reaching out to the low-income clients, poor and self employed, who traditionally lack access to banking, to equip them with financial services such as loans, in order to sustain and hence uplift them in the process. Mohammad Yunus is also the founder of Grameen bank and cornerstone in successfully implementing the microcredit framework in Bangladesh. Yunus and the bank were jointly awarded the Nobel Peace Prize in 2006 for their efforts in creating social and economic development for the bottom of the pyramid.

This microcredit movement in the 1970s tested practices and built institutions, designed to bring the kinds of opportunities and risk-management tools that financial services can provide to the doorsteps of poor people. While the success of the Grameen Bank (which now serves over 7 million poor Bangladeshi women) has inspired the world, it has proved difficult to replicate this success. In nations with lower population densities, meeting the operating costs of a retail branch by serving nearby customers has proven considerably more challenging. Although much progress has been made, the problem has not been solved yet, and the overwhelming majority of people who earn less than $1 a day, especially in the rural areas, continue to have no practical access to formal sector finance. Microfinance has been growing rapidly with $25 billion currently at work in microfinance loans. It is estimated that the industry needs $250 billion to get capital to all the poor people who need it. The industry has been growing rapidly, and concerns have arisen that the rate of capital flowing into microfinance is a potential risk unless managed well.

Traditionally banks have never provided financial services to clients with lower or no incomes. Bank will incur substantial cost in managing a client account regardless of the sum of money involved. The gross revenue generated in delivering a hundred loans of $1000 each will not differ greatly from that of lending a loan of $100,000. But the cost will be hundred times more in case of managing hundred loans. To serve the poor, large number of smaller loans is required while the lender will prefer to lend smaller number of large loans to minimize administration costs. And here lies the fundamental snag in extending loans; savings deposit facilities to the poor.

Collateral deposit is another facet banks deal with while extending loan. The poor households generally do not have substantial collateral like title deeds of land holdings due to the lack of proper records and tend to submit crops, utensils, jewellery, which is unacceptable by the banks. Hence banks have no cushion against defaulters. Again it is indispensable for clients to have a steady source of income to repay the loan and this cannot be ascertained in case of poor people. This gets manifested in increased risk factor of extending financial services to the disadvantaged section of society.

http://www.quotationspage.com/quote/2279.html

http://www.quotationspage.com/quote/2279.html

http://en.wikipedia.org/wiki/Microcredit

http://en.wikipedia.org/wiki/Grameen_Bank

http://en.wikipedia.org/wiki/United_States_dollar

http://en.wikipedia.org/wiki/1000000000_(number)


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The recent decision by finance ministry directing the public sector banks to impose and monitor a cap of 24% rates at which MFIs lend to the ultimate micro credit borrowers may have a detrimental impact on the sustainability of those microfinance institutions. In the absence of formal financial services, the poor borrowed money from moneylenders who charged exorbitant rates as high as 10% per month. MFIs in India have been lending loans at reasonable interest rates of 27% -30%. This allowed the MFIs somewhat affordability in terms of managing the administration costs of maintaining accounts and receiving funds from its sources. At this juncture curtailing the already abutted interest rates may hurt the prospects of MFIs, especially the struggling ones.

It has been a long standing debate about how microenterprise lending geared to providing short term capital to small businesses in the informal sector be sustained as an integral part of the financial sector and how their financial services can be further expanded using the principles, standards and modalities that have proven to be effective.

Microfinance institutions can, on a perpetual basis, broaden their resource base by mobilizing savings, accessing capital markets, loan funds and effective institutional development support. One of the ways in garnering this support would be urging corporate houses, millionaires to generously invest part of their wealth in such institutions. The foremost task should be to cultivate the culture of savings amongst the poor and encourage the same through various incentives. Location convenience, flexibility and security of savings will be essential in promoting it among the poor. Savings facilities will make large scale lending feasible.

Another important aspect is achieving excellent repayments and providing services to a wider audience. Microfinance experts agree that women should be primary focus of service delivery and evidence shows they are less likely to default than men. MFIs have employed the solidarity lending methodology, where women in group borrow loan, to increase its client base along with minimizing the potential risk. Employing newer technologies to reduce operating and administrative cost, cost reductions through simplified and decentralized loan application processing will have to be accomplished to increase their competitiveness.

Conducive legal and regulatory framework is imperative for the growth of such institutions. Ample freedom should be given to MFIs to determine their interest rates to cover operating costs and generate revenue. Government interference should facilitate the transition of MFIs to sustainable stage by providing subsidies, and credit enhancement mechanisms. Collaborating with the formal banking sector will aid in expanding successfully the microcredit operations. Comparative strength of each sector could be entwined to foster a mutually beneficial venture. Formal sector can refinance the loans made by the informal sector while informal sector can incorporate its cost effective administrative and operating practices. Roping in NGOs to act as intermediaries between commercial banks and the micro entrepreneurs will also help leverage the micro lending process.

The major consequence of microfinance lending will be in addressing the financial inclusion. Banks should give wide publicity to the facility of no frills account. Technology can be a very valuable tool in providing access to banking products in remote areas. ATMs cash dispensing machines can be modified suitably to make them user friendly for people who are illiterate, or less educated. Creating awareness about financial products, education, and advice on money management, debt counseling, savings and affordable credit is


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indispensable for achieving inclusive growth. It may appear in the first instance that taking banking to the sections constituting “the bottom of the pyramid”, may not be profitable but it should always be remembered that even the relatively low margins on high volumes can be a very profitable proposition. Financial inclusion can emerge as commercially profitable business. Only the banks should be prepared to think of the box.

By Prajnasmita Rout


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Quiz-O-Mania

1. Graphical representation of which famous theory?

2. Connect

3. I think Google should be like X: clean, simple, like a tool or something you want to take everywhere.” What is X in the famous quote?


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4. This British company was sued by X over a spoof abbreviation? Name X

5. Logo of which company recently in news?

6. Connect


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7. Connect

8. Both X and Y were born in the year 1929. X was born on 10th January in Belgium. Y was born on 17th January in Santa Monica, California. Both started their careers in newspapers and went on to become very famous people owing their success to this industry. X has a 10 Euro dedicated coin commemorated to him. Y has a statue and a dedicated day celebrated in his home city. Name X and Y.

9. This is the head coach of which Train & Identify the designer


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10. Connect

11. Connect


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12. Which Organization’s Logo has been inspired from this medal

13. Toshiba is in talks with TerraPower to jointly develop an advanced nuclear reactor. Which well known business personality owns TerraPower

14. Connect

15. According to the National Geographic -Top 10 Shopping Streets in the world, which

Indian place figures on the 5th spot?


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Answers:

1. Search Theory 2. Black Swan 3. Victorinox Swiss Army knife 4. FCUK 5. Oil Spill Response Limited 6. Company coming up with IPOs 7. KPMG 8. X – Tintin Y – Popeye 9. Duronto Express, Mamata Banerjee 10. Apple Inc. 11. SKS Microfinance 12. BCCI 13. Bill Gates 14. Mark Hurd, chairman, CEO and president of Hewlett-Packard had to resign after an

internal investigation uncovered expense-account irregularities involving Jodie Fisher 15. Chandni Chowk, Delhi

-Ankur Shah


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Life @ IMT Ghaziabad

Documents

The Perspective_Dec