Black Money Revolution in India-A Historical Step by Mr. PM…!!!

Black money in India has become a very sophisticated and delightful incident which is an illegal flow of money. This black money can be elevated around the world easily & rapidly, which could subject to the economy to a potential threat. Even though the citizens of India are facing huge problems, this resolution would benefit the Indian economy in positive variation.

Now citizens of India are shocked & surprise to know that the Govt of India has banned using Rs. 500 & Rs. 1000 Notes effective from 8pm, 8th Nov, 2016, Under Mr. PM Modiji’s Guidance. This seems to be a great Bold Move to fight against Corruption. Because black money in India got a commonplace of exchange. And it is practically impossible to trace black money. These encompass of bribes, corruption of public property, and illegal land transactions.

The Strange thing is Rs. 500/- & Rs. 1000/- has no more value; It’s just treated as waste paper hence.  This will certainly force the people who have a huge amount of black money to disclose it. And historic step of changing currency or action against the corruption would undoubtedly stop funding smugglers, terrorists and so many other unconstitutional activities.

The government has allowed Peoples to exchange the existing Rs.500-1000 notes. The time frame for the same is about 50 days, i.e. till 30th Dec 2016. This Exclusive scheme was fired to import black money back, which is being accumulated in foreign countries.

Well, Now a Market is appropriating the high prospect that the move will be good for the Indian Economy. Indian Government has authorized the instruction of the Reserve Bank of India to issue Rs. 2000/- notes and new notes of Rs. 500/- will also be arranged in circulation. 

Our Proudly Prime Minister Mr. Modiji announced that the steps taken by the Government would strengthen the hands of the common citizens in the fight against corruption, black money and counterfeit notes. A time-tested commitment to eradicate black money The Prime Minister has time and again said that the Government is committed to ensure that the menace of black money is overcome. 

Well, this Demonetization of Rs. 500 & Rs. 1000 will surely have far meeting impact. It has been a tremendous move ever.  And it is undeniably a very bold and a very indicative action...

Does An MBA Pay Off?

A cynical friend of yours may say that Tom, Dick, and Harry is doing an MBA and how would it matter if you do it too. You may also start asking the same question does an MBA pay-off?

Answer is yes. An MBA definitely pays off.

Economically speaking an MBA graduate will for sure earn in lakhs very soon in his/her job. Statistics proves this. If you are placed in a good firm you are bound to rise in the career ladder. Top MBA schools in the world state that their graduates have a highly respected position with good paying jobs. MBA is considered and in reality is not a very cheap affair. An aspirant usually has to spend from around 2 lakhs to 6 lakhs to earn a degree. But this is a mere investment that reaps double the return if you are good enough. A graduate placed in a good firm can earn and return the money, if he/she has borrowed it from bank, in practically no time.

Ergonomically speaking, an MBA graduate does best for the company’s best interest and is efficient at all times.

On a personal level, any MBA graduate would agree that their MBA did not remain about the degree. The whole MBA experience is so different. Every person grows in a very personal manner. An aspirant learns to organise, coordinate, execute, and perform in the best possible manner.

So don’t worry. An MBA always will pay off.

A Masters in Business Administration from one of the top ten B-schools in India like GIBS is completely worth it. With the course matrix and a variety of placement options in GIBS, happiness and career satisfaction in your future is guaranteed.

Paving The Way Towards a Cashless Economy

On 8th November 2016, the Government of India took the bold step of demonetising all 500 and 1000 banknotes, ceasing the usage of all these banknotes as a form of legal tender in India. In an effort to stop the counterfeiting of current banknotes used to fund terrorism, and to control the black money in the country, the Indian Prime Minister Mr Narendra Modi made a live address to the nation declaring the usage of 500 and 1000 banknotes invalid, and announcing the issue of new 500 and 2000 banknotes, in a bid to reduce corruption, terrorism, and drug smuggling.

In the ensuing days, a lot has been written for and against this move. Although in general, the move to demonetise and thereby hinder black money was appreciated by the masses, the manner in which it was carried out, and the hardships caused to the common man has been criticised. It is important to understand the economics behind this historical move before forming any further opinion.

Demonetisation is a radical monetary step to invalidate a currency unit’s status as a legal tender. Such a monumental step is usually taken when there may be a need to change national currency, for example when the European Monetary Union nations decided to adopt Euro as their currency. In India’s case, this is a move to curb corruption and control counterfeiting by reducing the amount of cash available in the system.

There is no transparency or accountability for a significant amount of cash flowing through the Indian economy, with the money never entering the tax system of the county, hurting the Indian economy, and making the honest, working class Indian suffer. Due to large amounts of unaccounted money in the economy, the government is unable to collect enough tax revenues, prompting increasing of taxes, further impacting honest tax paying citizens. Rampant corruption exists because of a cash economy, as it allows the money to be unaccountable. Demonetisation may not completely weed out corruption, but it will enable the system to capture the flow of money.

This historical move is likely to have a significant impact because of being unanticipated, thereby not giving people any time to find means to park their black money. A cashless economy can help curb inflated prices, recapitalise banks, reduce interest rates thereby increasing capital inflow to the economy. Such monumental changes cause their share of inconveniences but recalibrating an entire nation’s economy is no small feat. Currently, only 2.6% of the Indian population pays taxes! The rest either don’t make enough money or siphon it off and bypass taxes. Accountability of the cash flow will help the system identify and keep track of the Indian currency, and control tax evasion. As Prime Minister Modi promised, it is a big leap towards building the “India of our dreams”.

Surviving Your First MBA Admissions Rejection

You got rejected from your dream MBA admission. What will you do about it now? Mope, sulk, and think you don’t deserve an MBA or you maybe go to the extremes of death and whatnot.

Stop right there. Getting rejected is a part and parcel of life and should be dealt with in the same manner as if you were accepted.

First step to face a rejection is to accept it. Tell yourself “I got rejected from my dream MBA School. But you know what, I will for sure make up for what I did not do last time.” This way you have things in perspective. You know what you want to do in the coming months until you apply for next term. This time-gap can be utilised to get hands-on experience on a job, networking or learning additional skills that will help you for your second chance.

The top MBA colleges in the world have very complex and notorious selection process. You may not have been selected because you fall out on one of these aspects. Go back to your application and see where the fallout was. Was your essay not good enough, or the experiences that you listed less? Analyse and work on the points where you feel you need to sharpen your skills. This not only helps in getting into a good MBA school but will also help you for your future.

Do not give up. Getting an MBA degree is your dream, and especially from your dream schools which is very prestigious, and a matter of pride for you. Not getting through once does not make you a failure; it should make you stronger and more intent on doing better next time. So strategize and work on all aspects next time while applying for the MBA program.

Like top MBA Colleges in the world, GIBS too has strict policy for acceptance of students. This is to ensure that students selected get the best in today’s world. Do not stress out and worry if you were not selected the first time, you have more chances to improve your profile, and make sure to give your best the next time.

Must take courses for MBA

An MBA is a very prestigious degree in itself, but today companies demand more than just a degree. They want their candidates to be all-rounder’s with an MBA degree. This is indeed a lot to cope up with for students. Thus, the choice of electives and many add-on courses makes a lot of difference in the future of the candidate.

Top 100 MBA schools in the world offer a variety of electives to choose from for whatever specialization the candidate has chosen to pursue. These should be the primary foundation for what to do in future.

If you have chosen marketing as your MBA specialisation then know what electives you can choose. Furthermore, do research and see what you can individually do to develop your CV. Probably taking online or certificate courses on online marketing or probably a personality development class will help a long way.

A specialisation in finance can be improved by a short term course on the stock market or any related short courses which can help you build your confidence level. These also add as a plus point while giving your interviews.

Similarly in all other specializations in MBA, there can be a lot of add-on courses that can be taken up on the side. This helps in the overall development of a candidate and also adds a feather to their academic record.

Learning a new language is especially appreciated by many MNCs as their employees can travel to different places with this advantage. An MBA graduate with knowledge of a foreign language can keep their passports ready as they are expected to travel and work in different places throughout the world.

Familiarity with software like System application products or SAP adds as a huge advantage. Companies search for people with this faculty within them as this gives the candidate an extra edge over the others.

Attending various workshops, seminars and guest lecturers related to your specialization or interests also adds as an advantage.

GIBS, unquestionably a Best B school in India, know that their students deserve best and thus, they provide the facilities and many more as a part of the curriculum. It is no surprise that the students enjoy their life here and come out to be the best among the lot.

 

3 Tips For Balancing Relationships During Your MBA

Man is a social being and cannot live without worthwhile relationships. The relationship with your family and friends is very important and striking a balance between studies and relationship becomes very difficult while pursuing an MBA as both demand equal attention. Here are a few tips to balance relationships during your MBA:

• Know what you are signing up for

MBA aspirant: A relationship and an MBA, both are a solid investment that you will have to maintain. Therefore, know what you are expecting and giving back in return for both the aspects. Set expectations as to what you can do and what you cannot, and more importantly explain this to your family. Sharing your daily schedule with your partner helps them understand how busy you actually are.

The family: You need to know that your MBA aspirant does not ignore you on purpose. The schedule that they have with the heavy amount of college work makes it difficult for them to concentrate on anything else. You need to accept that during the next two years of their life, their MBA will be of highest priority for them.

• Make an effort

MBA aspirant: Little things make a big impact. A few small gestures won’t bite into major part of your hours and they can help a lot in the long run. Your family will understand that you are trying and will acknowledge that the relationship is equally important to you.

The family: Helping your MBA aspirant in whatever way possible, even by giving a hot cuppa, will make them realise how precious the relationship is. Sitting and talking to them when they are stressed helps in an immense manner. This does not mean you cannot expect the same in return from them. Ask them to take time out for you and talk with them, but at the same time do not get into their study hours.

• Talking helps

MBA aspirant: Talk to your family, tell them about your college life, your professors, your batch mates, the assignments, the curriculum and everything else. Even these tiny pieces of information will help your family realise how genuinely you are making an effort towards the relationship.

The family: Never miss out an opportunity when your MBA guy/girl wants to talk with you. Try and align your free time with theirs. Make sure you connect with them and be empathetic.

Top MBA colleges in the world like GIBS do have a challenging course structure because they prepare you for the best possible future after your degree. GIBS have a very well facilitated Infrastructure for the college residents/students from far places. The life has certain great attractions. In spite of the freedom enjoyed by students they have to abide by the rules of the hostel. GIBS provide a care-free atmosphere. The students stay comfortably away from the stern eyes of the parents, they also have support groups to help parents of their students stay connected with each other.