Saturday, February 27, 2010 Posted by sauravtibrewal


We had huge expectations from Budget 2010. It was a difficult task for Mr. Mukherjee as he had to satisfy people’s needs as well as control the fiscal deficit.

Let us analyse some of the major points of Union Budget 2010 (Fiscal Year 2010-11):

1. Change in tax slabs

Tax Slabs 2009-10

Tax Slabs 2010-11

Rs. 1,60, 000 – Nil 1,60,000 to 3,00,000 – 10%

3,00,000 to 5,00,000 – 20%

5,00,000 + - 30%

Rs. 1,60, 000 – Nil 1,60,000 to 5,00,000 – 10%

5,00,000 to 8,00,000 – 20%

8,00,000 + - 30%

Analysis – Pros: Relief for common man. If a Person earns Rs. 10,00,000, he has to pay Rs.154000 as tax in 2010-11 compared to Rs.2,04,000 which he would be required to pay in 2009-10.

Cons: May Result in loss of revenue for the government. But looking from a different point of view, it has been seen that as and when the tax brackets have been widened, no. of persons paying taxes have increased. So, it might not be a negative at all.

2. Reduction of Surcharge on corporate tax

The surcharge on corporate taxes has been decreased from 10% to 7.5%. If a company pays Rs.4 crores as tax, it has to pay Rs.40 lakhs as surcharge. Now, it has to pay Rs.30 lakhs as surcharge.

Pros: This is a welcome step as far as corporates are concerned. More disposable income will result in investing in new projects and ventures, which in turn will create more jobs.

Cons: It will result in loss of Government’s Revenue.

3. Increament in Minimum Alternate Tax

Last budget, we saw a hike in MAT rate. This year too, FM has increased the rate from MAT from 15% to 18%.

Pros: Increase in Revenues for Government as companies have to pay more tax (MAT) now.

Cons: Extra burden especially for medium and small enterprises because it has been seen that many of them fall under MAT bracket.

4. Extra deduction if invest in Long Term infra bonds

Apart from deductions under section 80C, if a tax payer invests in long term infrastructure bonds, he can get a deduction upto Rs.20000.

Pros: Huge boost for infrastructure sector. For a taxpayer, he can save tax upto Rs.6000.

Cons: Cannot think of it right now.

5. Excise Duty increased

Excise Duty (the tax that has to be paid on manufacturing of goods) has been increased from 8% to 10%. It is being seen as a rollback of fiscal stimulus.

Pros: Augment Government revenues.

Cons: It will inflate prices of goods.

6. Extra excise on petrol and diesel

Extra Excise duty of Re.1 will be charged on petrol and diesel.

7. Service Tax unchanged

Service Tax has not been touched. It remains at 10 percent. FM has intimated that more services will be brought under the reach of the Act.

Pros: Relief for taxpayers. Its increment could have hurt taxpayers in a big way. From mobile bills to restaurant bills, we pay service tax on many items that we are using.

Cons: Cannot think of it at present.

8. Licenses will be given to private players and NBFCs to enter into banking foray

Pros: More Job opportunities will be created. Financial Inclusion will be strengthened.

Need: Strong monitoring

9. Direct Tax code and GST given a deadline

10. Government determined to raise Rs.25000 crores from Disinvestment

Mr. Pranab Mukherjee estimates the fiscal deficit of India to be at 5.5 % for 2010-11 and 4.8% the year thereafter. Fiscal consolidation is on cards as it was evident from certain hard decisions that were taken during the budget.

Stock Market gave a big thumbs up to the budget as it looked progressive and also offered higher disposable income in the hands of the consumers.

Swaminathan Aiyar, the economist rated the budget and gave 6 out of 10. He said it is a middle road budget. FM has promised to control the deficit but was disappointed on certain fronts. Hiking fdi limit in insurance sector to 49% and reducing public sector share in PSU banks etc. were unheard of.

All in all, it was a budget where Finance Minister has given signs of financial stimulus rollback and has also given reasons for a common man to smile. (Smokers will be unhappy though as cigarettes will be costlier). I would give 7 out of 10 for this budget.

Please note the views expressed are personal and open to disagreements and criticisms.

Saurav Tibrewal

Co-ordinator, Cash-o-nova, The Finance Club

Indian Institute of Foreign Trade

MBA(IB) 2009-11 Batch

Contact: 9311580251

Budgets and the BSE

Thursday, February 25, 2010 Posted by Magesh Kumar

heya buddies,

with one budget already having been announced, and another just poking its head round the corner, we are in for some sparks in Dalal Street.

How about initiating a discussion among ourselves about the various sectors/stocks that are set to make or take money for/from the Indian investors?

Many of us are investors ourselves, and it would be good fun to put to use our FM and SAPM knowledge and predict the betas and gammas and correlation and co-variances that is gonna be kindled by the Union and Railway budgets.

Inviting your opinions/predictions/forecasts on the road ahead for BSE and NSE w.r.t. the budget impact, from all the finance enthusiasts, equity researchers, CFAs of IIFT.

I for my part believe the cement sector is gonna be the best best for the upcoming fiscal, and is gonna repeat its sunshine performance of the last 2 years. We may expect a modest growth of 6-8% (anything but modest, ain't it?). ACC, Gujarat Ambuja and India Cements look pretty attractive to me. And for those who wanna play safe and earn modest returns (this time i really mean modest), "mid-cap" is the mantra.

Your views and predictions guys?


One Night at Ventimiglia

Surojit shares his experience

Keeping up with the snapshots from Europe, here is one of the most enlightening experiences I have ever had. It painted a very different picture of Europe, far different from the dazzling lifestyles that we are so used to hearing.

Last week was the winter break in France, and a few of us took up the opportunity to travel to a few neighboring countries. Animesh and I decided to explore Italy. So on last Tuesday night, we set off on our own 'Italian Job'. Now, all trains from France to Italy go through a small coastal town called Ventimiglia. We took a train from Nice and arrived at Ventimiglia at 12 midnight. Our connecting train to Milan was at 4:30 in the morning. So there was a long, cold wait at Milan. Little did we know how fast time would fly.

Imagine! We get off at Ventimiglia at midnight. It's freezing cold. And as we enter the station, the first thing we hear is BLARING LOUD PUNJABI MUSIC!!! I mean, this is some nondescript Italian town, far from the sunny fields of the pind. It's 12 in the night. And Punjabi music!! WOH!! We look around and find this dimunitive guy, all huddled up in his jacket, sitting in one corner of the platform, with the sweet voice of Whatever Singh emanating from his mobile phone. Believe me, when you haven't seen an Indian for a long time, iis thrilling. Shy at first, he finally came up to talk to us.

'Pakistani?' Imagine that. He thought we were Pakis. Turns out there is reason for that. Most Indians holidaying through Europe don't usually travel budget (or with atleast such low budget as us). That route is mostly traversed by Bangladeshis and Pakis, who mostly engage in manual labour.

Anyway, we got talking. This guy has had the widest experience in Europe. He's Indian, name's Jogga, and works as a house painter in Paris. Doesn't have a visa or anything. So how did he come to Europe, one might wonder. He took a plane to Cuba (with a Cuban Visa), and in the stopover at Amsterdam, he got out of the plane and came out of the airport. Of course, he promptly got arrested, and spent 2 months in jail. Then, he somehow bribed his way out and went to Paris, and started working. Now he cannot go to back to India from France (no visa!!!). So he travels frequently to Italy, where Visa processes are lax. He is trying to prove that he stays in Italy so he can get the Italian givernment to give him a Visa!!! In fact, he just got chased down by the Italian police that very evening in Ventimiglia station. He managed to give them a slip and was back at the station trying to get a ticket to Milan. Now that's called living on the edge.

And that was not all. In the course of the night we met 3 friends travelling to France (or atleast trying to). One was an Afghan, the second a Palestinian, and the third an Arab. Now all these guys were in the same state as Jogga - no passports, no papers, and not a cent in the pocket. In fact, the Italian police had given the Afghan 5 days to get out of Italy. So he is fleeing to France. Turned out the guy was an interpretor for the NATO soldiers in Afghanistan, and had managed to smuggle himself into Europe through Turkey. In true Italian style, someone conned him a 150 Euros in Udinese (in Italy). Left a bad taste (and more) in the mouth. All three were completely frustrated with Europe, and really homesick. The Palestinian guy has a French wife, but is willing to leave her and go back to his home. All 3 of them were actually hoping to get arrested so they can be deported back to their countries.

Now, here is an fun fact for you guys (since we are studying Trade). It's not very easy to get deported. It costs 6000 Euros, and you will only get sent to GUESS WHERE. Oh yes! GREECE!!! Further procedures from there on. Getting arrested is the easy part.

If you think only Asians are in a bad state, you'll be dead wrong. Even the white have their problems. There was a French guy we got talking with. Now this bloke has come from Australia, where he went to get a job. But couldn't, because of his knowledge (or the lack of it) of English. But he is a musician, and was carrying a bongo of some kind, and a long horn (which is an aboriginal instrument from Down Under). Hometown in Marseille, Antoinne (his name), was trying to hitchhike his way back home. He actually asked us if he could make some money in Nice or Cannes to get a ticket to Marseille. He had had not eaten for two days, so we offered him some biscuits we were carrying. In return, he offered us a smoke. And considering a pack of smokes here cost 4-5 Euros, that's saying something.

So you see, not all that glitters is Europe. There is the other side of the story too. And hopefully you've enjoyed reading this one.


His earlier post: It's not all fun & games at the exchange program

Consolidation in Indian Telecom Sector... is it possible?

Tuesday, February 23, 2010 Posted by Magesh Kumar

Hi friends, in light of the panel discussion we had today on the Indian telecom sector, I would like to initiate an informal discussion amongst ourselves, wherein we can all post our views.

To begin with, I beg to disagree on the replies given by one of the speakers w.r.t. the possibility of consolidation of the existing players. As we all know, the Indian telecom sector has space for only about 4 to 6 players. But currently there are about a dozen firms fighting it out there, engaging in a price war that is probably more violent than that of the Coke-Pepsi one which occurred a few years ago. And to make things worse, Norway's Telenor is trying to butt in too, in order to have a share of the astronomical growth rate of the market.

I don't think a consolidation is possible in the near future, and here are my reasons:

a) No company is small enough to be acquired. I may of course, be wrong, but I think even Idea Cellular, one of the relatively smaller players, is too expensive to be bought out in entirety by say a Bharti or a Reliance Mobile. Also, given the lucrative market scenario, any company would fight tooth and nail, and exercise all the "poison pill" strategies it can think of, to prevent itself from being acquired.

b) I think an alliance (like the Kingfisher-Jet Airways)is a far more probable and likely to happen than a consolidation, wherein the players can form a sort of agreement among themselves to reduce competition and have a "win-win" for themselves (the current price-war is all but benefiting us customers, and not any of the telecom companies). We are witnessing that the big players are coming up with ways and means to compensate their rapidly declining market share to minnows like Aircel and Uninor - Airtel is already aggressively expanding its overseas arms (read Warid Telecom/MTNL/Zain and what not!!). It is only through such an alliance, will these companies be able to compete without further eroding each others' ARPUs.

In light of the above, please let me know what you guys think. Do pour in your opinions, ideas, strategies, etc. which may possibly be adopted by our telecom companies. (Do not forget that MNP is also an upcoming threat for most, if not all, players).


Predict your Budget

Monday, February 22, 2010 Posted by sauravtibrewal

Hello All

What do you think Mr. Mukherjee will present in this year's budget on 26th February 2010. Your prediction can be on any area related to budget. Please reply via comments.

ET in the classroom III

Monday, February 22, 2010 Posted by sauravtibrewal


Direct Taxes
This is the tax individuals and companies pay directly to the government. Income tax, wealth tax, and securities transaction tax fall in this category.

Indirect Taxes
It’s essentially a tax on expenditure. Levies such as customs, excise and service tax are examples of indirect taxes. They are considered regressive as they do not distinguish between the rich and the poor. So, most governments prefer to raise their revenues through direct taxes.

These are some of the important levies charged by the government.
Corporation (Corporate) Tax
It’s the tax companies pay on their profits. India Inc pays 30% of its profits to the government.

Taxes On Income Other Than Corporation Tax
It’s income-tax paid by individuals or ‘non-corporate assessees’. Income-tax rates range from 10% to 30%, depending on the income bracket.

Securities Transaction Tax (STT)
If you’re dealing in shares or mutual fund units, you will have to pay a small part of the amount you pay or receive. In the Union budget for 2004-05, the government did away with the tax on profits earned on the sale of shares held for more than a year (known as long-term capital gains tax) and replaced it with STT.

Anything you bring from abroad, comes at a price. By levying a tax on imports, the government is achieving twin objectives: It’s adding to its revenues and protecting local industries.

Union Excise Duty
This is a duty imposed on goods manufactured in the country.

Service Tax
You pay the government when you eat out or visit your hairdresser. Your telephone bill will also have an item called service tax — it is a tax on services rendered.

Source: Economic Times, New Delhi, 9th February 2010

Finance Quiz Results

Monday, February 22, 2010 Posted by sauravtibrewal

Cashonova congratulates Dr. Vijay Malik and Vamsi Krishna for winning the finance quiz organised by Cashonova in association with Quintessential.

Heartiest Congratulations.

Long Night of Quizzing

Hi all,

Quintessential conducted a Long Night of Quizzing on 21st from 8 PM to 6 AM on 22nd.
We would like to thank all the participants who made the Long Night of Quizzing a big success by staying on till 6AM(for the food & drinks maybe) and there was never a dull moment in the entire time. We had good fun and hope it was the same for the junta as well.

The consolidated list of winners are as follows:-

General Quiz:-

Chaitanya V
Harihar Adarsh

Bollywood Quiz:-

Chaitanya V
Geetanjali Keerti

Cricket Quiz:-

Shantanu Munshi

Finance Quiz:-

Dr Vijay Malik
Vamsi Krishna

Trade Quiz:-

Abhijith B
Amit Kumar

IT Quiz:-

Chaitanya V
Harihar Adarsh
Rehber Nazir

Literature Quiz:-

Praveen P

We congratulate all the winners and once again thank everyone else for being there and making the night long event a success.

Abhijith B +91-9650840301
Dhruv Jain +91-9910070268

Telecom Panel Discussion @IIFT

Panel Discussion speakers will be mentioned here in 2-3 days.

Finance Quiz on 21st Feb

Saturday, February 20, 2010 Posted by sauravtibrewal

Hello All

Cashonova in association with Quintessential will organise a finance quiz on 21st Feb 2010 at around 11.50 pm.

Please be there as lots of fin concepts will be discussed. It will be a knowledge enhancement session for all. Looking forward for a good participation.


Jeevan Raju
Karthik Krishnan
Saurav Tibrewal

ET in the classroom II

Saturday, February 20, 2010 Posted by sauravtibrewal

This is the last word on the government’s receipts and expenditure for the financial year, presented to Parliament. This is actually the annual budget, as stated in the Constitution. Divided into three parts — Consolidated Fund, Contingency Fund and Public Account — it has a statement of receipts and expenditure of each. Expenditure from the Consolidated Fund and Contingency Fund requires the nod of Parliament.

The government’s lifeline. It contains all revenues, money borrowed and receipts from loans it has given. All government expenditure is made from this fund.

As the name suggests, any urgent or unforeseen expenditure is met from this Rs 500 crore fund, which is at the disposal of the President. The amount withdrawn is returned from the Consolidated Fund.

When it comes to this account, the government is nothing more than a banker, as this is a collection of money belonging to others such as public provident fund.

The budget has to distinguish all receipts/expenditure on revenue account from other expenditure. So all receipts in, say, the consolidated fund, are split into Revenue Budget (revenue account) and Capital Budget (capital account), which include non-revenue receipts and expenditure.

All receipts like taxes and expenditure like salaries, subsidies and interest payments that do not entail sale or creation of assets fall under the revenue account.

Capital account shows all receipts from liquidating (eg. selling shares in a public sector company) of assets and spending to create assets (lending to receive interest).

The government has to prepare a Revenue Budget (detailing revenue receipts and revenue expenditure) and a Capital Budget (capital receipts and capital expenditure).

Source: Economic Times, New Delhi, 8th Feb 2010

Congratulations for winning Big Bank Theory

Saturday, February 20, 2010 Posted by sauravtibrewal

Cashonova congratulates Magesh Kumar and Kuldeep Mehra for winning the Big Bank Theory Competition at SPJMIR, Mumbai.


Jeevan Raju
Karthik Krishnan
Saurav Tibrewal

ET in the classroom

Saturday, February 20, 2010 Posted by sauravtibrewal


Minimum Alternate Tax (Mat)
Indian companies pay 30% tax on its profits as per the Income-Tax Act. But, tax holidays announced from time to time may result in much lower tax outgo for India Inc. If a company’s tax liability is less than 10% of its profits, the company has to pay a minimum alternate tax of 15% of the book profit. This provision is expected to change when the proposals of the direct taxes code (read the entry below) are accepted. Instead of levying tax on its book profit, the code proposes a MAT on gross assets of a company.

Value-Added Tax
State governments levy this on goods at point of sale, based on the difference between the value of the output and the value of inputs used to produce it. The aim here is to tax a firm only for the value it adds to the manufacturing inputs, and not the entire input cost. Thus, VAT helps avoid a cascading of taxes as a product passes through different stages of production/value addition.

The GST, or goods and services tax, contains all the indirect taxes levied on goods — including central and a state-level taxes. This tax is expected to simplify and streamline the indirect tax regime. It will be an improvement on the value-added tax system as it will incorporate central excise duty and service tax along with state taxes. A uniform GST across the country is expected to create a seamless national market. For the taxpayer, it will mean less paperwork and could actually translate into a lower tax burden, as it would remove distortions from the system.

Direct Tax Code
The Income Tax Act came into effect nearly half a century ago. Since then, the economy has undergone a complete transformation with new kinds of business and activities coming up. To make the tax laws reflect these changes, the government has now come up with the Direct Taxes Code. It proposes to simplify the tax laws, includes a new way to calculate taxes on income, has fixed tax rates and also lays out comprehensive guidelines on international taxation. The Code is scheduled to replace the existing Act from April 1, 2011.

Ref: Economic Times, Delhi ,10th February 2010

Roll No.82 zzzzzzzz......

Saturday, February 20, 2010 Posted by Guessthatsforyou

In the class, I tumble in a freefall
Early starter profs, unwelcomed by all
Last row being the professors screwball
Under the hawks watch, I scratch my eyeballs

I don’t wanna be here, an oddball
Why am I here,I try to recall
A New Perspective I suppose, free thoughts are my Be all
Fools, he thinks, you are just some slimeball

There are ways to make your presence felt in the hall
Whether you are large or small
Be invisible in transparent overall
Or Wait your turn, an intelligent outfall

Sweets, it seems, I am new to this ball
Stall your thoughts, the rules here stand tall
The 2 years,how it goes is no longer your call
Sit Up!! time for another ROLL CALL!!!!!!!!!!!!!

Lending Rates Deregulated

Saturday, February 20, 2010 Posted by sauravtibrewal

Banking sector has seen several reforms in the recent past. The policy makers including Reserve Bank of India (RBI), the ministry and the government have sought to improve the functionality of the system in order to augment the robustness of the sector.

In a recent move, The RBI has decided to replace the existing concept of Benchmark Prime Lending Rate (BPLR) with Base Prime Lending rate. The proposed method is said to more scientific than the present system for calculating BPLRs. Calculating the base rate will take into account the cost of deposits, cost of complying with CRR and SLR requirements, and the need to retain a profit margin. In addition, the proposed change is likely to address the concerns of borrowers about the transparency in dealing with the existing lending practises.

But what needs to be understood is the impact that this move will have on the banks. There have been mixed reactions from the banking community. Some banks have welcomed the move, as it might reduce unhealthy competition among bankers and simultaneously help borrowers get finance support at reasonable rates depending upon the tenure of the loan. However it does leave huge liquidity at the disposal of big banks.

It is the understanding of these dynamics, caused by such reforms which is of utmost importance to management students. As future corporate leaders or policy makers, the students need to know not only the implications of such policy decisions but also the difficulties faced during their implementation.

Cashonova, the finance club of IIFT thus seeks to invite opinions of the students on this subject.

Telecom Panel Discussion @IIFT Delhi :: Opportunities and Challenges of the Future

From the heavily regulated and the infamous waiting lists era of the 70’s to emerging as the most dynamic mobile telephony market in the world in the current decade, India’s trailblazing telecom leap has left the world gasping in awe. The transformation of the sector has been in close sync with India’s economic transformation into a confident young nation aiming high on the world table.

With millions of additions per year and close to 20% CAGR over the past few years, the sector has been truly the sunshine sector of post 1995 Indian economy booming with the highest growth rates in the world, unmatched by any country of comparable scale. As the regulatory climate improves and private players invest aggressively in nationwide network deployments, the growth is only expected to keep rising. The expansion of India's telecom industry has led to an "all-inclusive growth" of the Indian economy in terms of GDP growth, employment and government revenues.

Apart from the rapid increase in subscribers and the mind boggling array of tariff plans directed at every segment of the massive consumer base, the telecom industry has provided ‘communication independence’ to every Indian, especially in rural India, by providing means to keep in touch at affordable rates, something which five decades of regulated fixed line telephony could not achieve. While subscriber growth is predicted to gradually slow down as the market saturates, a phenomenon already being seen in some metros of the country, a combination of factors such as acceleration of fixed-to-mobile substitution, expansion of rural market coverage, increasing competition resulting in the introduction of innovative cellular service packages, new path breaking VAS models, and cheaper entry-level handsets can stimulate future growth.

While the growth of the sector envisions good for the economy and the country, on the flip side, with an ever increasing number of operators fighting for the same telecom pie, costly price wars exacerbated by the recent pay per second tariff plans, painfully slow progress on new spectrum allocations and delays in technology rollouts can play spoilsport to some extent. Another striking feature of the India telecom space is the lack of major domestic integrated hardware players catering to the sector, unlike China for example.

Going forward, as the country demands more developed, mature and integrated data and communication needs, the demand for unified communication need on par with the latest technologies and value added services is only bound to increase. With the technology world seeing a greater than before integration in Communications, IT, Enterprise Management and other services to provide always-on and always available applications, opportunities for telecom firms to integrate with businesses and emerge as integrators shall increase. Investing in other emerging telecom markets in Asia, Africa and Latin America is also a strategic option to keep the revenues growing.

Against this dynamic backdrop accentuated by the fast changing telecom and IT landscape, Indian Institute of Foreign Trade (IIFT) is organizing a panel discussion to set a platform for exchange of knowledge and ideas among leaders from the major telecom companies and subject matter experts on the industry to deliberate on the topic “Indian Telecom Sector: Opportunities and Challenges of the Future”.

Europe - beyond the Greek crisis

Monday, February 15, 2010 Posted by Magesh Kumar

The Greek crisis has hit the front-pages of newspapers across the globe, and every economist and strategist around the world is coming out with his/her own interpretation of the problem, along with a prediction of what this may lead to.

Being neither an economist nor a strategist, and viewing from a common man’s vision, it seems to me that the Greek crisis is just a tip of the iceberg, which is poised to maul not just the land of Socrates and Plato, but the whole of Europe.

The whole world is by now aware of what is happening inside Europe – an internal imbalance and unrest caused by ailing economies (yes, you read it right!!), differences in opinion by different governments on the economic front, erratic and uneven growth posted by the different member-nations – all this coupled with a dismal rate of recovery from the slowdown that hit the world in 2008.

When the Euro was introduced in 1999, it was hoped that these uneven growth patterns would gradually blur out, and the combined entity would be able to compete the United States on the global front. But the founding fathers of the EU have forgotten that the diversity among the different states and people in the USA is its biggest strength, whilst the same diversity among the different member states and people in the EU is its biggest Achilles heel (if you know what I mean). And the increasing divergence among the nations is testimony to the fact that some nations feel they were much better off before joining the EU than they are now.

I guess this is the reason why the support for the Euro, the common currency, has been weakening from many quarters. The ECB’s biggest headache in the past few years has been trying to maintain an interest rate that is satisfactory to all. Countries like Spain and Italy want it kept low, while stronger economies like Germany and Netherlands are already complaining at the low rates, which is detrimental to their interests. Apparently the EU’s famous policy of “one size fits all” seems to have fit no one.

Germany in particular, has been very stubborn on this issue, as its most lucrative cash-cow, the automobile industry, is yet to benefit from the ECB’s interest-rate policy. To add to this are its internal taxation problems, where the Social democrats and the Christian democrats tasted subtle success in easing pressure from within the political system. I half think than a German economic fall is likely to happen sooner than a Greek fall. (lol)

Another burning issue is Turkey. Of late there have been rumours of allowing Turkey into the EU membership. There were, as expected, more objections than consents, from within the EU, on the grounds that Turkey, being culturally and socially different (read Islamic) would not fit into the EU’s image. But the tables are turning now. Long hailed as the “sick man of Europe” (until the sobriquet was given to Italy in the recent past, thanks to the Silver man (J), Turkey today seems more promising than most other EU nations. All MNC’s across the world are quarelling for floor space in Ankara or Istanbul. In fact, today Turkey’s membership was to happen, it would have to be the EU that went and requested for Turkey’s inclusion, and not the other way round, for Turkey’s membership would boost EU’s economic position tremendously.

Representing just about 8% of the world’s population, the EU is not the first choice of investment for many global firms. China and India put together represent about 37%, and this coupled with the fact that these countries are also some of the fastest growing economies, is magnetizing all investments into these 2 nations. Other regions like Latin America and Africa are also pretty promising, which means that the foreign investment scenario in future looks very bleak for the EU. With the run-up to the elections for a new president of the EU in 2011, the world is warming its palms in glee, and awaiting more fireworks and drama.


Its Raining Prize Money

Manvi bajpai and Varun goel hv won d 1st prize (cash prize of 8000 bugs :D ) at biz czar organized by IMNU also tanmoy bhattacharyya nd yogeshwaran secured d 4th position in the same event

Siddhartha mandal and Tanmoy bhattacharyya also bagged the 2nd prize at the white paper competition conducted by IFMR

Night @IIFT

Clicked from the top of the world

Kinduz Consulting Session

Written by Subbu - Socrates Coordinator

Last week Mr Pavan Kota (CEO Kinduz consulting) took a session on application of concepts of six sigma in Business Consulting.

The session started with the challenges the organizations in Business Consulting face due to
•The number of unknowns in the assignment
•The number of senior people you interact and work with
•Expectation from the assignment –something that in-house employees cannot achieve

The session helped the aspiring consultants to understand that while the pressure and the challenge is high, Business Consulting can be successfully implemented with the help of:
•Common Sense
•Simple Tools and Techniques
•A Scientific Methodology

And then followed the Cases which B-School students are encountered with but the difference came in the way we approached the solutions to those cases. The session helped us to identify the problem statement the case is trying to address through several visible symptoms all pointing to the underlying cause.

We were also explained the underlying Principle used in solving those kinds of cases was SIX SIGMA approach which the Company had used. Also the way in which each & every principle was applied to the case in question was described which explained.

six sigma approach to problem solving:

Congrats Ashutosh and Archit

Congrats to them for being 1st Runners-Up in Lumiere - Nirma university Paper Presentation Competition on

Nirma Event website

Welcome Note from Cashonova

Saturday, February 13, 2010 Posted by sauravtibrewal

Hello All

We would like to welcome all IIFTians aboard to this new platform of interaction. We would like to thank Nitesh Luthra, the man who initiated the blog.

Cashonova, the finance club, requests all of us to come forward and discuss various finance related concepts, news, topics etc.

On behalf of Cashonova, Magesh Kumar will be consistently posting finance news and we all can discuss its implications, pros and cons etc. on this blog.

We also request you to start a new discussion as and when necessary.

For any suggestions and comments, please send a mail to:


Jeevan Raju
Karthik Krishnan
Saurav Tibrewal

Arun Singhal
Neha Daga

It's not all fun & games at the exchange program

Disclaimer: We never thought that it will come to this so soon, but friends, students and IIFTians this is the first time we are officially issuing a disclaimer for any entry on this blog. The views expressed in the article below are entirely the author's own and neither the hapless Media Coord nor the hardworking Site Admin have any obligations (legal, ethical or even psychological) arising out of the same.

From Surojit Bhattacharya

I'm sure my economics professor will agree when I say that, "Like Hirshey, Exchange is a MUST!"

Remember those Fridays, when you would come back to your room in the evening exhausted from from a gruelling day of lectures (one which most likely taught you that management is nothing but complicating a simple problem with big fancy words). You throw your heavy bag, and subsequently yourself, on the bed, and thank the lord that there is no assignment submissions the next day. And you close your eyes in peaceful slumber.

It's much the same in the exchange program. EXCEPT, instead of Friday, it is EVERYDAY; and instead of the evening, it is ANY TIME OF THE DAY; and instead of attending a lecture, you attended an AC DC CONCERT, and instead of your heavy bag, it is a half a bottle of JACK DANIELS. That my friends, is the gist of the exchange program for you. But seriously, there are classes to be attended in the exchange program also. There is a very hectic schedule of approximately 3 DAYS a month!!! And of course, there is all the holidaying to do in Paris, and Milan, and Rome. Takes out a lot of you. And don't even get me started on the women. Because after all, this is family blog.

In short, the phoren exchange program is what Jeeves would call "good education". And as opposed Pink Floyd, we DO need the education.

P.S. We do some studying too.

Brandwagon Coordinator Writes

Written by Akshay Moorthy

My first article as Club co-ordinator of BrandWagon, the Marketing Club of IIFT and I will begin with a quote by Juan Carlos Castillo – “In marketing there are those who satisfy needs and those who create wants’’. When I was asked to write this article I was a bit reluctant initially but what clinched the deal was when Preyoshi said what better way than an online forum to promote your club and publicise your activities. She had gotten through to the marketer in me. And the culmination of that conversation is this article. For the record, Preyoshi belongs to the latter while I would like to believe that I belong to the former!

Talking about BrandWagon…

BrandWagon happens to be, after all, the most happening club on campus with strength of over 200 students as its members. It is, I believe, the only club of its kind in any B-School in India to have a title sponsor of its own. For this, we owe our complete gratitude to SAMSUNG who saw BrandWagon worthy enough to associate their name with.

For non-IIFTians, future students, potential recruiters and the uninitiated public at large, BrandWagon is a forum for students interested in marketing, either as a subject or as a preferred career. Being one of the most sought after clubs at IIFT, BrandWagon ensures that it continually expands and enriches the students’ classroom experiences.

B Schools across the world consider one and only one book as the Bible of marketing and its author as the undisputed guru of marketing. I am, of course, referring to Philip Kotler. In his words, Marketing takes day to learn. Unfortunately it takes a lifetime to master. The marketing club of IIFT sets out to prove the very guru of marketing wrong.

For, members of BrandWagon have successfully mastered the art of marketing in their two years at IIFT and have been displaying their proficiency in sectors ranging from Telecom, Automobiles, IT, Textiles to the big players in the world of FMCG.

Marketing is perceived as mundane theories formed upon simple tasks. If only I had a nickel for every time someone said “Yaar, marketing is all gas… its just playing around with words”…. BrandWagon aims to dispel this very notion. It functions with certain objectives in mind chief among them being to challenge individuals to move beyond jargon and clich├ęd theory and explore the real world of marketing, to provide a platform for IIFTians to express their creativity, use their acumen in industry analysis, and invest time and effort in live projects and several such activities and to help in updating members’ knowledge of marketing by keeping abreast with the latest in the marketing world.

We at BrandWagon try to achieve this through a myriad set of activities like BrandTracker(A brand tracking event), Dwijanma(A competition on study of failed brands and their proposed revival), Goal Mart and Vastutva(a market research competition). This coupled with the magazine Mark Key serves as the topping to an already attractive cake. If this was not enough, we have a Symposium or a Conclave every year where the best marketing minds in India come together and analyse the current market scenario, concepts of marketing and advertising and predict future trends in the industry. Add to this mix, discussions and interaction with eminent people from the industry (we had the COO of Wal-Mart, India on campus for a guest lecture) and you have students with a well rounded and holistic knowledge of marketing.

My fellow co-ordinators Raghav & Shweta and I aim to continue this very tradition of BrandWagon of churning out some of the brightest marketers the industry has ever seen, year after year. As we journey along, many more new and exciting events have been planned and are on the anvil. BrandWagon 2010-2011 promises you a great year ahead.
Why do we need to say all of this on an online forum; why the need to publicise our club, you may ask. In my defence, all I can say is we are not here to make noise, but we wont talk in whispers either.

To highlight just how essential this forum is to BrandWagon to draw attention to its activities and achievements (thank you, Preyoshi!) I shall reproduce someone’s words

For a business not to advertise is like winking at a girl in the dark. You know what you are doing but no one else does.


Akshay Moorthy,
BrandWagon Co-ordinator
MBA (IB) 2009-11

Quiz @Quintessential

1. Let me start with my favourite topic: FOOD. It is the Italian word for hors d’oeuvre, and literally means ‘before the food’. In Italian cuisine, this typically consists of cold foods such as cheeses and raw or marinated vegetables, as well as meats, especially cured meats such as prosciutto. Identify the term?

2. “A worker in _____________ must work 89 minutes for a kilo of rice, while a Swiss needs only five to seven minutes,” the survey from UBS, the Banking group from Switzerland said. Fill the blank.

3. What is unique to Mario Brothers, Mortal Kombat and Tomb Raider?

4. We often hear of the ‘Chancellor of the Exchequer.’ How did the word Exchequer come into use?

5. This film superstar holds a degree in business and finance from the University of Wisconsin, and had earned a small fortune in mail-order and real estate before he launched his career in the film industry. Who?

6. It was once referred to as a “Punjabi newspaper written in the Roman script”. Which newspaper?

7. On 31st October 2000, four centuries after his death, who was declared the patron saint of politicians and statesmen?

8. The name was an acronym for the German text translating to “limited company for dye manufacture”. It was established in 1867 at Rummelsburger near Berlin, and took its name in 1873. After the second world war, the factory was re-established in West Germany, at Leverkusen and Munich. What company?

9. This product came as a result of a research work titled ‘the third browser’. The success of the endeavour led to the formation of a new company. What am I talking about?

10. Record book…. This Indian company started in 1956 with a capacity of 25 units a day. Today they produce them in 100 seconds flat. They are world’s largest. Which company?

11. Son of a London cabbie, he dropped out of school, but eventually mastered degree in fashion design from the prestigious Martins College. Three times winner of ‘the British designer of the year’, he drew media attention when he impudently dismissed his employer Hubert de Givenchy as ‘irrelevant’. He has a petulant bad boy image and is widely known as ‘L’enfant Terrible’. One of the most controversial but talented fashion designers today, he is currently employed by Gucci. Name him.

12. Irving, Texas is a small-town which has the HQ’s of a Fortune 5 company. Name the company.

13. Expand AIG as in Tata-AIG or ManU shirts AIG?

14. In the 1860s a pharmacist, developed a food for babies who were unable to breastfeed. His first success was a premature infant who could not tolerate his mother’s milk or any of the usual substitutes. People quickly recognized the value of the new product, after his new formula saved the child’s life, and soon, the product was being sold in much of Europe. This was the start of a great multinational. Which one?

15. Name the legendary French New Wave director who made the 1964 movie after which Quentin Tarantino, one of his biggest admirers, named his production company.

16. On which US states’ license plates would you find the slogan “The Spirit of America”?

17. On 9th February 1950 this US senator accused more than 200 staff in the State Department of being members of the Communist Party. He made the startling allegation in a public speech saying the State Department was infested with communists and brandished a sheet of paper which purportedly contained the traitors’ names. Name the senator.

18. The Japanese brand “Canon” is named after?

19. A talented, self-taught artist, he sold his first drawing to Life magazine when he was only 14! He was also a natural athlete who longed for a career in baseball, but his dreams of pitching in the Big Leagues were shattered when he broke his arm while playing his first professional game. He became a sports cartoonist and created a strip called “Champs and Chumps”, which was renamed later. The cartoon was an instant success. Who and what was it renamed as?

20. Frank McNamara went to a New York restaurant to have dinner. On his way out he faced a problem. What problem did he face and how did he resolve the problem?

Inter Section Volleyball Tournament @IIFT

Newly formed sports committee organized inter section volley ball matches yesterday. Sporting activity started again after the successful UWL. Section A was victorious though they went through some hiccups in set 2 against section B.
Amritpal , Amit aka tata steel aka placecomm convenor were the stars of section A. Section C was rusty in the first match against winners A loosing in straight sets but they bounced back and defeated Section B comfortably with high arm serves of Bafpal and Varun Mahajan doing the trick.

Cheers to newly formed Sports committee
Anurag Daria
Yamini Yadav
Saurabh Singh

15 Marketing Blogs & Websites

Here are 15 blogs and websites related to marketing field

  1. Marketing Practice
  2. Alltop - Marketing
  3. Alltop - Branding
  4. Marketing Profs Daily Fix
  5. Ad Age Power150
  6. Brand Strategy Insider
  7. Ping!
  8. Rama Bijapurkar
  9. Marketing News
  10. FMCG marketing
  11. Marketing in India
  12. Interactive Marketing
  13. eStrategy Internet Marketing Blog
  14. Personal Branding Blog
  15. Afaqs

If you have any more please write in the comments !!!!

Qutab Minar from IIFT - Polar Panorama

Photoshop can be used to convert the panoramic view of qutab minar into a unique piece of art. 360 degree image will look like a planet, even though my image was not 360 degree the result came out pretty well :)

Tutorial - Create Own Polar Panorama

Club Coordinators @IIFT

Congratulations to all the newly elected coordinators of various clubs at IIFT.

Vibhu Mishra
Vishnu Bhotla Subbaramasarma (100)
Mayur Toshniwal

Akshay Moorthy
Raghav Mehta
Shweta Gaggar

Anit Roy
Sunil Kishore Bhatia
Vinay Suri

Deepak Jain
Archit Tiwari
Herry Dhawan

Jeevan Raju
Karthik Krishnan
Saurav Tibrewal


Amit Kumar
Bafpalbir Singh
Keerthi Samata

Now we can expect loads of articles related to marketing , finace , consulting , trade :)

New Look

Here is the new look of blog. More categorized and organized :)
Suggestions welcome !!!

How to configure Netmail account on Outlook 2007

(Copied from my Blog, as per Abhijit's suggestion. Original Version at

Many of you wanted to know how to configure Outlook for Netmail. To save time, i'm writing the steps here. 

For those of you who've never used Outlook, do read the intro. All those who are already familiar, please move on to the settings directly.


Outlook 2007 allows you to store your email's on your PC's hard drive. So you can access your old mails when there is no internet connectivity or when the Netmail server is down. Also, due to limited space in Netmail, you have to delete mails on a regular basis. Having Outlook configured on your PC, lets you access all mails without having to delete them.


I could not configure Netmail to directly flow to Outlook. There's a workaround. Forward all mails from Netmail to your Gmail account. Gmail can be configured on Outlook.

a) Configure Netmail
  1. Log in to Netmail. Click on Options -> Rules -> Select 'Forward' from the drop down -> 'Create'
  2. Under Rule Name, write 'Gmail'
  3. In 'To' write your Gmail Id. eg -
  4. Click 'Save'
All the mails that you receive on Netmail will now be forwarded to your Gmail account.

b) Configure Gmail
  1. Log in to Gmail. Click on 'Settings' -> 'Forwarding and POP/IMAP'
  2. Select 'Enable POP for mail that arrives from now on' and 'Save Changes'
c) Configure Outlook 2007
  1. Make sure Outlook 2007 is installed as a part of your Office 2007 in your PC
  2. Now follow the instructions given here
Known issues
  1. I am unable to send mail from Outlook. If any of you is able to, please contact.
  2. Some mails are not forwarded from your Netmail account due to server issues.  Please check once a day, so as not to miss important deadlines.
  3. On some PC's a particular port number may not work, while configuring Outlook. These are my settings.

Anything else, feel free to contact.