1. Editorial

2. Governor of Reserve Bank of India (RBI)- Dr. Urjit Patel

Career Timeline of Dr. Urjit Patel

Upcoming challenges for RBI Governor

3. Impact of Goods and Service Tax on Indian Economy

5. R-COM Aircel union give birth to a Telecom Gaint

5. State Bank of India (SBI) Merger

6. India’s salary growth & GDP Gaining since 2008

7. RBI issue new Rs.20 Currency Notes

8. ICICI Pru life IPO opened

9. IDFC issue commercial paper of Rs.700

10 Tata Consultancy Services

11. Apple Company

12. RBL Bank

13. Tata Motors

Company’s Profile

Start ups

14. 1mg Technology Private Limited

15. Jugnoo

16. Reliance Jio

17. Mobile Connect

18. Flipkart

19. Jack Ma (Alibaba Founder)

Success stories

20 Ritesh Aggarwal (OYO Rooms Founder)

21. Sunil Bharti Mittal

22. Financial Terms


24. Quiz

25. Crossword puzzles

26. Job Alert

Activities in Club




Now India is growing fast it’s time to update our tired image of

the country

It is an annual ritual for tens of thousands

of residents of Delhi: the sumptuous sight

of floats, soldiers, tanks, dancers and

dromedaries. Overhead roar jets. In the

stands lining the path of the Republic Day

parade, thousands cheer and wave. The

visiting dignitaries – France’s François

Hollande this year, Barack Obama last

year – nod, smile and try not to let their

envy at the latest set of top line figures

about their host’s economic growth show

too obviously

For that growth is as impressive as any of

the displays of traditional arts or freshly

painted armoured vehicles. It is certainly

more important to India than either. New

figures released by Indian authorities last

week put economic growth in the

emerging power at 7.5% in 2015, the

highest in the world, and up from 6.9% the

year before. Growth in China is heading in

the opposite direction – predicted to be

only 6.3% in 2016 – while the US will

expand by a mere 2.6%. To spare

Hollande’s blushes, let’s not even mention

the predictions for France.

So, after several disappointing years, the

elephant has once again begun to dance.

And, in a world shaken by a series of

rolling crises, anything remotely cheerful

gets noticed. India’s economy is the 10th

or 11th biggest in the world and is forecast

to reach third, after the US and China, in

less than 15 years.

This leads to two important questions: is

India’s rise, which looked to be slowing,

really back on track? And if so, what will

India’s eventual emergence as a major

economic power actually mean? The

answers to both challenge many of the

easy assumptions often made in the west.

The first is that India’s rise is certainly

unlikely to be linear and uniform; after all,

very little else in the chaotic, immensely

varied nation of 1.3bn is. The Indian

growth calculations were made according

to a new – and generous – formula. A year

ago, Rushir Sharma, an expert on

emerging economies, banker and bestselling

author, dismissed them as “a bad

joke”. More recently, other commentators

have been less scathing.

No one claims the blunt GDP growth

statistics describe ground reality, however.

Anyone who has spent any time in India

knows that the country still suffers

enormous problems: grossly inadequate

infrastructure and a deep skills deficit that

could easily turn the “demographic

dividend” of a youthful population into

soaring inequality, massive corporate debt,

and political gridlock, patchy rule of law,

poor governance and horrendous

environmental degradation.

So what does this mean for the rest of the

world? So far India has not converted its

new-found wealth into commensurate

global clout. This vast nation has always

punched below its weight on the

international stage, other than perhaps

during the 1950s, when Jawaharlal Nehru,

the independence leader and prime

minister, converted moral prestige into


One reason has been the absence of a UN

Security Council seat, and the often urgent

distractions of a tough neighbourhood.

Another is, as former Prime Minister

Manmohan Singh said as recently as 2013

that, despite the boom years, India remains

a “poor country”.

But others include an under-resourced

diplomatic service, an unwillingness to

take strong positions on international

issues, a weak military and a sense of

exceptionalism which means that little that

is done overseas – such as driving in lanes,

or global norms of insurance of nuclear

reactors – is seen as having much

relevance to India itself. This latter belief

may be partially justified – south Asian

problems usually require south Asian

solutions – but it doesn’t help India engage

globally and win arguments. This lack of

power projection also means India is badly

misunderstood. The image of the US

overseas incorporates hard elements (a

willingness to use military force or to

impose trade agreements favouring US

businesses) with softer elements (film and

TV, music, hamburgers).

It will mean a lot of arguing, and some

serious rethinking, in the chancelleries of

Paris, London &Washington. One of the

consequences of India’s profound lack of

hard power is that its image is defined

almost entirely by soft elements:

Bollywood, Mahatma Gandhi, curry, films

such as the Last Best Marigold Hotel or

Slumdog Millionaire, and the country’s

reputation as a global information

technology hub. This distorts the reality

This distortion is reinforced by the focus

on India’s democratic institutions, the

widespread use of English and even the

enthusiasm for cricket. One result is a

sense among many western commentators

and politicians that India is a “natural

ally”. Yet there is no immediately obvious

reason why a colony that was exploited for

200 years before winning its

independence, and that has since

maintained an ambivalent relationship with

Washington, has been close to Moscow

and, at one point, made considerable

efforts to befriend Beijing, should align

itself with western powers.

Obama and Narendra Modi, the Indian

prime minister who won a landslide

victory in 2014, have made apparently

successful efforts to establish some kind of

rapport. And Modi’s visit to London last

year was largely viewed as a success. But

Modi himself represents, literally and

figuratively, a strong conservative,

nationalist, Hindu majoritarian strand in

India that has existed for at least 150 years,

yet barely affects the image of the country


Some have claimed Modi was elected

primarily through the support of

industrialists and sections of the media.

This is not the case. He won because his

nationalist rhetoric and his promise of

development was attractive to a large

number of his compatriots. This link will

not weaken as India’s economy grows and

with it, however haphazardly, its influence.

The nation is likely to behave on the

international stage much like any other

power: with a strong sense of its own

interests and that its foreign policy goals

are legitimate and attainable, with or

without western approval. This does not

mean violent clashes, or active animosity,

but it will mean an awful lot of arguing,

and some serious rethinking, in the

chancelleries of Paris, Washington,

London and elsewhere.

Contributed by:


Jaspreet (MBA-I)

India’s telecom giants have two

obsessions: battling one another and

getting more spectrums for use without

succumbing to price gouging by the

monopolist owner, the government of

India. Contrast this with what China’s

telecom giant is up to. Huawei is rolling

out a Gigabit mobile network, that is, a

mobile network capable of transmitting

data at rates in excess of a million bits per

second, for Deutsche Telecom. India’s

most advanced 4G network would be

proud to offer speeds one-tenth that.

Huawei is also trying out the technology

for Vodafone in England.

The company uses advances in

aggregating multiple bands of spectrum to

achieve this. It has emerged a world leader

in telecom technology and will be right up

there as chief vendor when the advanced

nations move over to 5G technology in

about five years.

Huawei employs some 1, 50,000 people,

half of them in R&D. No Indian company,

research lab or university department has

the capability even to determine if any bits

of the telecom kit deployed in our

networks have chunks of software that

could pose a security threat, leave alone

develop such equipment on its own.

For national ambitions of greatness in the

digital economy to have traction in the real

world of Indian technology companies, we

need an industrial policy that pushes and

pulls companies into serious R&D and

associated assumption of risk. Given its

demography, India will supply the

maximum number of engineers to the

world. We need fresh policy thinking to

have those who do stay back in

engineering contribute to India’s

technology heft.

Of course, it is not fair to compare telecom

service providers with telecom equipment

makers. But except for one Shyam

Telecom, India hardly has any R&D-based

makers of telecom equipment. And since

Indian telecom operators refuse to offer

custom to Indian equipment makers, they

cannot grow. The state owned C-DoT, in

its heyday under Sam Pitroda, showed

some promise in indigenous telecom

R&D, but that got scuttled when some

foreign technology collaboration was

foisted on C-DoT.


India’s merchandise exports shrank 0.3%

in August, compared to a year ago. Exports

have fallen in 20 of the last 21months. The

balance of trade looks healthy because

imports fell 14%, the 21st consecutive

month of this trend. Neither is healthy.

Exports are dented by global recession, and

by low productivity, thanks to poor

policymaking. Falling imports, especially

of non-oil, non-valuables that include

capital goods, which shrank 3% year on

year, shows the lack of appetite to invest.

Today, exporters are rooting, with some

camouflaged support within the

government, for a devaluation of the rupee,

which has appreciated 2.5% in six months.

This is a bad idea that has to be dropped.

The rupee is poised to slide against the

dollar in any case. Later this month, around

$20 billion will flow out of India as

redemptions for foreign currency nonresident

bonds. This will put pressure on

the rupee, whose exchange rate is set by

the market, the RBI only dampening

volatility. Much of our exports have

imported components, so devaluation will


Import inflation, making exports

uncompetitive. By December, the US Fed

might start hiking interest rates, triggering

a dollar outflow, weakening the rupee.

Focus, instead, on the policy mess that

hobbles exports.

A variety of domestic producers - Ficci

recently produced a detailed list are

hamstrung by steep duties on imported raw

materials while duties are lower on

finished imports. A minimum import price,

between $341 and $750 per tonne of

imported steel, protects profits of local

steel manufacturers, but cripples industries

that use the metal. The government may

extend such protection to aluminium as

well. It should not. Scrap the inverted duty

structure. In fact, to extend the same rate of

effective protection to all sectors, have the

same low rate of import duty for all

products, as Chile does. Build better

infrastructure like roads and ports;

minimise paperwork that slows down trade

and open non-critical sectors to 100%

overseas investment. Regulate quality in

sectors like pharma. That is the way to

compete globally.

Governor of Reserve Bank Of India – Dr. Urjit Patel

Appointment of Dr. Urjit Patel as the

Governor of the Reserve Bank of India

(RBI) indicates continuity. Dr. Patel has

worked closely with Dr. Raghuram Rajan

and many of the changes that have

occurred in monetary policy framework

are the brainchild of the duo. Markets are

expected to take this news in a positive

manner. However, there shall be no large

scale impact on either the Indian Rupee or

bonds from the announcement.

A new inflation target regime has been

officially adopted by RBI. At the same

time, for the first time in independent

India, monetary policy will be decided by

consensus of the monetary policy

committee (MPC) and not just by the

governor. Inflation corridor is supposed to

bring objectivity and transparency in the

way rate path is decided. Therefore, it’s

believed that the impact of new governor

will be beyond the scope of monetary

policy. It shall cover areas like FX policy,

banking supervision, and still unexplored,

financial market development.

India’s financial markets like FX,

government debt, and credit markets lack

depth and variety. The need for them is

now more important than ever before.

The note issued said it is also incorrect to

say that RBI's fight with inflation started

only under Rajan, pointing out that central

bank has been an “enemy of inflation”

since 1983.


Eminent economist, consultant and banker

Urjit Patel was on appointed new

Governor of the Reserve Bank of

India. Patel will replace Raghuram Rajan,

a former International Monetary Fund

chief economist who stunned financial

markets in June by announcing he would

step down in September and return to

academia after a single three-year term at

the RBI.

The appointment has been made on the

recommendation of the Financial Sector

Regulatory Appointment Search

Committee (FSRASC) headed by Cabinet

Secretary. The committee undertook an

extensive exercise to suggest a panel of

names to the appointment committee of

cabinet (ACC).

One of the RBI’s four deputy governors,

Patel, 52, was reappointed in January for

another three years. He has run the central

bank’s monetary policy department since


Seen as a close lieutenant to Rajan, Patel

headed a committee that introduced

landmark changes including a switch to

inflation-targeting and adopting consumer

prices as the new benchmark instead of

wholesale prices. The changes he helped

drive are considered to be among the most

significant monetary policy reforms since

India opened up its economy in 1991.

Patel, born on October 28, 1963, received

his doctorate in economics from Yale

University in 1990) and M Phil from

Oxford (1986). He has worked with the

International Monetary Fund (IMF)

between 1990 and 1995 covering the US,

India, Bahamas and Myanmar desks.

He will be the eighth Deputy Governor to

be made Governor at RBI.

He was particularly picked for his

expertise in inflation-control, which has

become the main task of the central bank,

ever since the government, under statute,

set it a target of 4 percent, plus or minus

two percentage points, based on consumer

price index. He was also a consultant in

India’s Finance Ministry, in the

Department of Economic Affairs, and an

advisor at The Boston Consulting Group.

This apart, he has been a non-resident

Senior Fellow of The Brookings


According to some senior officials at the

Reserve Bank, Patel was particularly

chosen by the IMF in 1996-97 to provide

advice on the development of the debt and

currency markets in India, as also on

banking and social security net reforms.


Raghuram Rajan, signaling that prudent

monetary policy will continue to be the

norm calming investors. Here are the five

challenges before the new RBI Governor

Urjit Patel.

Redemption of FCNR-B deposit

Ensuring undisruptive redemption of $20-

25 billion, inflation control and bank

cleanup will be the main challenges that

will face Urjit Patel, who takes over as the

24th Governor of Reserve Bank early next


When the rupee had a freefall due to 'taper

tantrums' in the summer of 2013,

plummeting to lifetime low of 67.85, India

mobilised USD 26 billion through foreign

currency non-resident bank account

(FCNR-B) deposits by offering a special

swap window for banks. The three-year

deposits are maturing starting next month.

Mounting non-performing assets

A seasoned economist, Patel will have to

deal with the problem of mounting nonperforming

assets (NPAs) of banking

sector and take forward the cleaning

process his predecessor Raghuram Rajan


Besides, he may see a new breed of

players coming up in the banking sector,

including with full-fledged banking

licenses as well as in niche segments.

Appointing MPC members

His other task would be to appoint a

Reserve Bank nominee on the broad-based

Monetary Policy Committee (MPC) which

will decided on the interest rate with a

view to maintaining inflation at 4 per cent

with a plus/minus margin of 2 per cent.

Half of the six-member MPC will be from

Reserve Bank and the remaining will be

nominees of the government.

Outgoing Governor Rajan has appointed

Patel and Michael Patra as RBI nominees

to the MPC which will be headed by the

by the central bank Governor himself.

With Patel becoming Governor, RBI will

have to appoint another member for the all

important committee which will set the

interest rate at the next policy review on

October 4.

Controlling inflation

The government has earlier notified 4 per

cent inflation target for the next five years,

based on which the MPC would take its

monetary policy decisions going forward.

The move, which provides for a margin of

plus or minus 2 per cent in this target thus

fixing the upper tolerance level at 6 per

cent till 2021, is being seen as government

putting the seal on outgoing Governor's

inflation model.

With the setting of MPC, the interest rate

setting powers would move from RBI

Governor to the panel.

Contributed by: - Kinjal Rajbhar



The Rajya Sabha passed the GST

Constitutional Amendment Bill which the

Lok Sabha had already approved last

year.One of the biggest taxation reforms in


all set to integrate State economies and

boost overall growth. GST is a broad

based and a single comprehensive tax

levied on goods and services consumed in

an economy. The main aim of the GST is

to eliminate excessive taxation.


more beneficial to purchase goods on

invoice. If the customer himself insists

on taking the bill, tax evasion will fall.


GST will reshape the indirect tax

structure by including majority of

indirect taxes. It will help in improving

the ease of doing business in the




unified market facilitates seamless

movement of goods across states and

reduces the transaction cost of the




consumption based tax, tax collection

will go to the states in which goods are

consumed not where they are


‣ INFLATION: The Service tax rate

could shoot up from the current level

of 15% to 18%. This has lead to fears

that inflation could rise in short term.



will boost he programme as

manufacturers will get the input tax

credits for capital goods.


BUSINESSES: GST will even out the

tax structures of various states which

remove the location bias. Any person

can set up factory in any state without

having to worry about tax differences.

Taxes should not be the hindrance in

investment decision. This means that

even undeveloped locations can see

more businesses coming up.

Contributed by:

Nancy Chawla (MBA-II)


Reliance communication ltd is an Indian

Internet access and telecommunication

company headquarter in Navi –

Mumbai,India . It provides GSM (voice

2g,3g,4g) mobile services , Fixed line

broadband and voice services. Reliance

Communication is the fourth largest

telecom operator in India with

98.70million subscribers as of june 2016.


Aircel is an Indian mobile network

operator headquarter in gurgaon,which

offers 3G,2G,4G Data services. It is the

sixth largest mobile services provider in

India with a subscriber base of 83.05

million subscribers as of june 2015.

What is the deal all about?

R-Com and Aircel’s majority owner,

Malaysia Maxis Communication Behad

(MCB) has signed definitive documents

for the merger of their Indian wireless

businesses. R-com and aircel will hold

50% each in the new company.

What are the details of the Merged


The Merged entity will have a net worth of

Rs. 35000 crore and assets base of Rs.

65000 crore. It will hold 451 MHZ of

spectrum pan India- AIRCEL‘s 187.6

MHZ, Sistema Shyam 39.4 MHZand

Reliance com 224 MHZ.


According to the statement , Rcom will

continue to own and operate it high growth

businesses in the domestic and global

enterprises space, dat center, related

telecom Infrastructure besides owning

valuable real estate.

Most Importantly ,the deal will help

Reliance com the most leveraged listed

telecom player in India cut it debts by

Rs.20000 crore and AIRCEL debts will

fall by about Rs. 4000 crore.

Merger to result in country 4 th largest

operator with assets of 65000 cr and 2 nd

largest spectrum holding after Airtel.

Contributed by:

Simran Verma (MBA-II)


State bank of India, the country’s largest

lender approved the merger of its

operations and five of its associate banks.

State bank of Travancore, State bank of

Mysore, state bank of Jaipur and Bikaner,

state bank of Hyderabad, state bank of

Patiala and Mahila bank will stand merged

with SBI.




1) This is the first ever large scale

consolidation in the Indian banking


2) The merger will create a banking

behemoth with an asset book of Rs

37 lakh crore.

3) SBI will give 28 of its shares for

every 10 shares held of state bank

of Bikaner.

4) It will give 22 of its shares for

every 10 shares held of State Bank

of Mysore.

5) The lender will give 22 of its own

shares for every 10 shares held of

State Bank of Travancore.

6) SBI will give 4, 42, 31,510 shares

with face value of Re 1 for every

100 crore equity shares of Bhartiya

Mahila Bank.

7) The merger will see SBI’s ranking

approve in the bloomberg’s largest

bank by asset ranking. It may well

break through the 50-mark in the


8) SBI’s asset base will now be five

times larger than the second largest

Indian bank, ICICI

As far as loans go, it will be beneficial to

borrowers since SBI's rates are lower (see


Customers must do their cost-benefit

analysis before shifting their loan. For

instance, in case of a home loan, shifting to

another bank could include additional

charges such as processing fees, legal fees,

technical fees, valuation fees, etc. If the

interest rate of the new bank is higher even

after taking into account all the additional

Charges only then does it make sense to


Just like loans, fixed deposits (FDs) are

contracts, too, and it is not possible for

banks to change the rate mid-way. If you

have locked into a long-term FD, say five

years, you can continue with that till


SBI would have to offer the same SB rates

to customers of the associate banks too.

State Bank of India's merger with its five

subsidiaries will strengthen them and boost

market share "exponentially" as the move

will help reduce several "repetitive costs",

SBI chief Arundhati Bhattacharya said .

"The proposed merger of five small banks

with SBI will raise the market share

exponentially. SBI will be three-time

higher than the nearest competitor. Several

costs which persist today will be reduced

as well as repetitive cost will also come


If savings bank rates were different, then

In stiff competition today, it is difficult for the small banks to smoothly

function. Technological changes are taking place and all such arrangements

need capital for it. If all the six banks are together, that will be great.

Contributed by:

Simranjeet kaur (MBA-II)

India's salary growth at 0.2%, GDP gain of 63.8% since 2008

India has seen a salary growth of just 0.2

per cent since the great recession eight

years back, while China recorded the

largest real salary growth of 10.6 per cent

during the period under review, says a


Different analysis by different people

According to a new analysis by the Hay

Group division of Korn Ferry, India's

salary growth stood at 0.2 per cent in real

terms, with a GDP gain of 63.8 per cent

over the same period.

During the period under review, China,

Indonesia and Mexico had the largest real

salary growth at 10.6 per cent, 9.3 per cent

and 8.9 per cent, respectively.

Meanwhile, some other emerging markets

including Turkey, Argentina, Russia and

Brazil had the worst real salary growth at

(-) 34.4 per cent, (-) 18.6 per cent, (-) 17.1

per cent and (-) 15.3 per cent, respectively.

"Most emerging G20 markets stood at

either one end of the scale or the other

either amongst the highest for wage

growth, or amongst the lowest. However,

India stood right in the middle, with all the

mature markets," the report said.

The report further noted that Indian wage

growth is the most unequal. "Of the

countries we looked at, Indian wage

growth was by far the most unequal -

people at the bottom are 30 per cent worse

off in real terms since the start of the

recession; whilst people at the top are 30

per cent better off," Benjamin Frost, Korn

Ferry Hay Group Global Product Manager

–Pay said.

Strong wage growth for senior jobs is

mostly because of skill shortages for key

professional and managerial roles; and the

increasing connection to a more globalised

pay market at the senior levels - a market

where India still pays less than most

countries, but is catching up fast, Frost


Regarding the poorer wage growth at the

bottom, the report noted that it is more

because of an oversupply of people.

"India has made less progress than some

other countries in bringing high value jobs

to the country. This has led to poor job

growth, therefore an oversupply of

un/semi-skilled people, and poor wage

growth," Frost said.

Globally, the United States suffered one of

the worst salary recoveries among

developed nations. Adjusted for inflation,

salaries in the United States decreased 3.1

per cent on average since September 2008

- despite a Gross Domestic Product (GDP)

growth of 10.2 per cent.

Canada's salary recovery is the best among

developed nations, with a 7.2 per cent

salary growth on average, with a GDP gain

of 11.2 per cent.

Other developed nations experienced flat

to modest salary growth, with Australia At

5.9 per cent, France at 5.2 per cent,

Germany at 5 per cent and Italy at 2.4 per


"While overall, global economists point to

this recovery as one of the worst in history,

There are political, economic and social

reasons for the disparate salary

fluctuations in different countries

Contributed by:

Garima (MBA-II)

RBI to issue new Rs.20 currency notes

The Reserve Bank of India (RBI) will soon

issue new Rs. 20 currency notes carrying

Governor Urjit Patel's signature. The

security features and design of the new

series of currency notes will be broadly

similar to the existing one except for minor

changes, the central bank said in a

statement. The reverse of the note will

have one change — the year of printing

will be "2016".

The RBI said that the new series of the

note will have the following features:

Ascending font: The numerals in both the

number panels will be in ascending size

from left to right while the first three

alpha-numeric characters (prefix) will

remain constant in size.

Intaglio printing: The numeral "20", RBI

seal, Mahatma Gandhi's portrait, RBI

printed in offset (without any raised

printing). Further, rectangular

identification mark on the left of the

banknote has been removed.

Colour: While there is no change in the

colour at the reverse, the colour at the

obverse is lighter (due to removal of

intaglio printing).

Latent Image: The vertical band on the

right side of the Mahatma Gandhi's portrait

hitherto contained a latent image showing

the denominational numeral "20".The

latent image was visible only when the

banknote was held horizontally at eye

level. This feature is no longer present.

Contributed by:

Garima (MBA-II)

Legend, Guarantee and promise clause,

Governor's signature, Ashoka Pillar

emblem, which were hitherto printed in

intaglio (raised printing) are now being

ICICI Pru Life IPO opened, biggest issue since 2010

ICICI Prudential Life Insurance has hit the

market with the biggest initial public

offering (IPO) in nearly six years. The

insurer, which on Friday allotted Rs 1,635

crore worth of shares to anchor investors,

will seek investor participation in 13.23

crore shares started on 19 august..

The issue is priced in the Rs 300-334

range. At the upper end of the price band,

it would fetch Rs 4,419 crore. Including

anchor allotment, it would be the biggest

IPO in India since the Coal India BSE 0.45

% issue in 2010.

Bids can be made for a minimum of 44

shares and in multiples of the same


There is a limited trading history for

insurance companies in India, except for

Max Financial Services (MFS). ICICI

Prudential had in November 2015 sold 6

per cent of its stake to investors such as

Azim Premji and Temasek Holdings for

Rs 1,950 crore, valuing the company at Rs

32,500 crore. At the upper end of the price

band, the insurer would be valued at Rs

48,000 crore.

Nomura India: Valuation at 10-20%

discount to HDFC Max

The brokerage noted that the company

would command a market value of

between Rs 43,000 crore and Rs 48,000

crore, which on its FY18 EV forecast

fetches a valuation of 2.45-2.73 times, a

20-30 per cent discount to the combined

multiple of HDFC Life and Max Life.

"Adjusting for excess capital, this price

band is a 10-20 per cent EV multiple

discount to MFS (merged entity)

valuations, and on a new business multiple

basis valuation is at par," the brokerage


Quant Capital: Valuation reasonable,

sector outlook upbeat

Quant Capital has assigned a 'subscribe'

rating to the IPO. This brokerage said

ICICI Prudential's healthy business

momentum and rising penetration in the

insurance sector, besides reasonable

valuations are some of the factors behind

its rating. "At the upper end of the price

band, the insurer is valued at Rs 47,720

crore, quoting at 9.6 times risk-weighted

received premium (RWRP) for FY16,

which is quite low compared with our

estimate of 15 times for ICICI Bank's

SOTP valuation. The valuation is also

reasonable considering the recent merger

of Max Life with HDFC Life has quoted

the value for HDFC Life Insurance at Rs

47,000 crore with market share of 7.6 per

cent against ICICI Pru Life's share of 11.3

per cent.

The brokerage has no recommendation on

the issue.

Contributed by:

Jatin Pruthi (MBA-II)

Angel Broking: Scope for growth exists,

but issue is priced fully

The ability to growth new business

premium (APE) and improve the margins

on that, is critical factor for valuing an

insurance company, Angel Broking said.

"ICICI Pru Life has been able to improve

its net new business margins from 5.7 per

cent of the premium in FY15 to 8 per cent

in FY16. The margins are still low

compared to others but what gives

confidence is the increasing trend," it said.

The brokerage, which has a neutral rating

on the IPO, said while the company has

enough scope for business growth in the

future, the issue, seemed fully priced.

NVS Wealth Managers: Claim

settlement highest, good opportunity for


This brokerage noted that ICICI Pru Life's

claim-settlement ratio at 96.2 per cent is

the highest in the private life insurance

space. Max Financial Services and HDFC

Standard Life's claim settlement ratio as on

March 31 stood at 94 per cent and 90.5 per

cent, respectively.

The untapped opportunity and penetration

in life insurance provides ample scope for

the company to grow its portfolio at a

rapid pace, NVS Wealth Managers said.

"Considering the likely increased earnings

based on the current financial year 2017 as

well as addition to the net worth and

increased book value, the pricing could

become more attractive. Hence, we are

confident that the insurer will deliver

consistent performance and provide an

excellent investment opportunity for

investors with a long term horizon,"

IDFC issues commercial papers of Rs 700

"The company issued Commercial Papers

for an aggregate amount of Rs 700 crore

on September 12, 2016 having maturity

date of September 29, 2016.

Infrastructure lender IDFC Ltd has issued

commercial papers (CPs) worth Rs 700

crore earlier this week. "The company

issued Commercial Papers for an

aggregate amount of Rs 700 crore on

September 12, 2016 having maturity date

of September 29, 2016," IDFC said in a

regulatory filing. IDFC said the CPs have

been rated as A1+ by ICRA Instruments

with the aforesaid rating are considered to

have a strong degree of safety regarding

timely payment of financial obligations

and such instruments carry lowest credit

risk. The aggregate amount of commercial

papers outstanding as on date is Rs 700

crore, it added. CPs are unsecured, shortterm

debt instrument issued by a

corporation, typically for the financing of

accounts receivable, inventories and

meeting short-term liabilities.

Contributed by:

Jatin Pruthi (MBA-II)

Forward Looking Statement

Certain statements in this release

concerning our future prospects are

forward-looking statements. Forwardlooking

statements by their nature involve

a number of risks and uncertainties that

could cause actual results to differ

materially from market expectations. These

risks and uncertainties include, but are not

limited to our ability to manage growth,

intense competition among Indian and

overseas IT services companies, various

factors which may affect our cost

advantage, such as wage increases or an

appreciating Rupee, our ability to attract

and retain highly skilled professionals, time

and cost overruns on fixed-price, fixedtime

frame contracts, client concentration

restrictions on cross-border movement of

skilled personnel, our ability to manage

our international operations, reduced

demand for technology in our key focus

areas, disruptions in telecommunication

networks, our ability to successfully

complete and integrate potential

acquisitions, liability for damages on our

service contracts, the success of the

companies in which TCS has made

strategic investments, withdrawal of

governmental fiscal incentives, political

instability, legal restrictions on raising

capital or acquiring companies outside

India, unauthorized use of our intellectual

property and general economic conditions

affecting our industry. TCS may, from

time to time, make additional written and

oral forward looking statements, Including

our reports to shareholders. These forwardlooking

statements represent only the

Company’s current intentions, beliefs or

expectations, and any forward -looking

statement speaks only as of the date on

which it was made. The Company assumes

no obligation to revise or update any

forward-looking statement.

Type: Public

Traded as: BSE: 532540


BSE SENSEX Constituent

CNX Nifty Constituent

Industry: IT services, It consulting

Established: 1968

Founder: J.R.D Tata, F.C Kohli

Area Served: Worldwide

Key people: N. Chandersekaran (CEO &


Services: IT, Business Consulting and

outsourcing services

Revenue: US$ 16.54 billion (2016)

Operating income: US$ 4.38 billion


Profit: US$ 3.70 billion (2016)

Total assets: US$ 13.76 billion (2016)

Total equity: US$ 11.10 billion (2016)

Number of employees: 3, 62,079 (August


Parent: Tata group

Subsidiaries: TCS China, TRDDC,

Computational Research Laboratories

Slogan: Experience certainty



Established in 1968

Tata Consulting Services is an

Indian multinational information

technology service, consulting and

business solutions company

headquartered in Mumbai.

It is a subsidiary of the Tata

Group and operates in 46

countries. TCS is one largest

Indian company by market

capitalization ($80 billion).

TCS is now placed among the

‘Big 4’ most valuable IT services

brands worldwide.

In 2015, TCS is ranked 64 th

overall in the Forbes World’s

Most Innovative Companies

ranking, making it both the

highest ranked IT Services

Company and the first Indian


It is world’s 10 th largest UT

services provider, measured by the



In 2014- TCS was honored by

Lumity as the 2014 Community

Corps Corporate Champion.

TCS Wins Prestigious Association

of Management Consulting Firms


TCS recognized as world’s fastest

growing global IT services brand

TCS UK wins gold award for

innovation in learning.

TCS is only it services

organization to be a part of ISO

15926 real time interoperability

network grid version 1.0.0

Largest it services firm in Asia.

TCS ranked among 25 in business

week’s 2007 Information

Technology 100

TCS awarded top position in 2007

‘Global Services’ 100 ‘Top Best

Performing IT Services providers’





2001 October


CMC Limited


IT Services

2004 January

2004 March

2004 May

Airline Financial

Support Services

India (AFSI)

Aviation Software


Consultancy India


Phoenix Global



IT Services


2005 May

2005 October

2005 November

2006 February

2006 November

2006 November

2008 December

2010 September

2012 August

Swedish Indian IT

Resources AB


Financial Network




Tata Infotech

TCS Management

TKS- Teknosoft

Citigroup Global

Services Ltd.

Supervalu Services


IT Services

Core Banking



IT Services

IT Services

Banking Product

Captive BPO of

Citigroup Inc.

Captive IT/ BPO

unit of Supervalu

Inc. in India

2013 April Computational Research


Alti SA

High Performance


IT Services


Infosys Ltd.

HCL Technologies Ltd.

HTMT Global Solutions Ltd.

Bosch Ltd.

Kale Consultants LTD.

Mphasis BFL Ltd.

Zensar Technologies


TCS is trading at a P.E of 21.55 times compared with 17.35 times of Infosys and 16.46 times

of HCL..

Contributed by:

Jitesh (MBA-I)

Apple Company

Apple -American Multinational

Technology Company.

Headquarter - Cupertino, California U.S

Founder - Steve Jobs

CEO -Tim Cook

Founded - 1 April 1976, 40 Years ago in


No. Of locations - 478 Apple retail stores

in 17 countries (as on march 2016)

Revenue - US $ 233.715 billion (2015)

Operating income - US $ 71.230 billion

Net income - US $ 53.394 billion

No. Of employees - 115,000

Total asset - $ 305.277 billion

P/E - 12.57 ( 2 Sep. 2016)

Tax rate - 25.5%


Quarter-1 (2016)

Profit -$ 18.4 billion

Revenue - $75.9 billion

Future aspects estimated -

Dividend- 11.26% Increase

Share price - For next 12 months

Median target - 120

It is 11.39% Increase from last price


Sale -

2014 - 169.22 Million

2015 - 231.22 million

2017 - 241.5 million unit

around 15% growth assumed

Contributed by:

Neha (MBA-I)


In August 6, 1943, Ratnakar Bank was

incorporated as a small, regional bank

in Maharashtra with two branches

in Kolhapur and Sangli. It was founded by a

group of eminent patriotic personalities to

cater to the needs of small and medium

business merchants in the Kolhapur-Sangli

belt. In August 1959, the Bank was

categorised as a "Scheduled Commercial

Bank" within the meaning of R.B.I. Act

1934. In the banking circles, RBL Bank

was often known as the NH4 Bank, since a

majority of its business came from cities in

and around the 1,235-kilometerlong

National Highway that connected four

of the 10 most populous cities in India

from Pune to Chennai. The Bank currently

services approximately 19,00,000

customers and has a total business size of

over Rs. 45,000 Crores. It offers a range of

banking products and services categorized

largely in 5 verticals - Corporate &

Institutional Banking, Commercial

Banking, Retail Banking, Agri &

Development Banking and Financial



Mr.VIshwavir Ahuja (Managing Director

& CEO) ,Mr.Rajeev Ahuja (Head –

Strategy Retail & Financial Inclusion), Mr.

R Guru Murhty (Head of Risk &

Governance),Mrs. Shanta Vallury (Head of

HR,C.S.R. & Internal Branding) .


(2) Over the last three years, RBL has

infused capital of over Rs. 1,500 Cr,

(3) From domestic and global investors,

taking the TIER 1 capital to

approximately Rs. 2,000 Cr.

(4) In the year 2015-16, RBL registered a

profit of INR 292 Cr, up 40% & paid a

dividend of 15%. As per the results

declared in 2014-15, RBL had a

balance sheet growth of 49% and a 4-

year Compound annual growth rate

(CAGR) of 70%.

(5) The current equity share of RBL Bank

is INR 293.45 cr which is grow up by

Rs 188.73 cr from 2010.

(6) Its current reserve surplus 1936.98 Cr


(7) Its current net worth is Rs 2223.50 CR.

(8) IIts current deposits are 17099.25 Cr.

Rupees which is is increase by 5500.65

cr. Rupees from previous year.

(9) Its net profit was 207.17 Cr. Rupees

which is increase by 114.5 cr rupees

from previous year.

(10) Its earnieng per share is 7.23 Rs

which is increase by 3.36 from

previous year.


(1) As of March 2016, RBL Bank has

grown to a network of 193 branches and

362 ATMs across 13 Indian states and

Union Territories.

(2)On August 19,2016 It targets to raise

more than Rs 1,200 crore through this issue

at a price band of Rs 224-225 per share.

Which was within a two day

oversubscribed by 3.25 times?

(3) Its listed share price is Rs 274.2/Share

which is 22% premium over the offer


Contributed by:

Shubham Shrivastav (MBA-I)



Tata Motors Ltd is India's largest

automobile company. The company is the

leader in commercial vehicles in each

segment, and among the top three in

passenger vehicles with winning products

in the compact, midsize car and utility

vehicle segments. They are the world's

fourth largest truck manufacturer, and the

world's second largest bus manufacturer.

The company is engaged in the

development, designing, manufacturing,

assembling and sale of vehicles, including

financing thereof, as well as sale of related

parts and accessories. They manufacture

commercial vehicle, three passenger

vehicle, truck and bus. They have a

portfolio of automotive products, ranging

from sub-1 ton to 49 ton gross vehicle

weight (GVW), trucks (including pickup

trucks) and from small, medium, and large

buses and coaches to passenger cars,

including the car, the Tata Nano. The

company's segments include automotive,

and others, which include information

technology (IT) services, construction

equipment manufacturing, machine tools

and factory automation solutions, highprecision

tooling and plastic and electronic

components for certain applications, and

investment business Tata Motors records

sales growth of 6% in August 2016

Key Highlights:

Posted a 17% sales growth in

passenger cars over last year, led by

strong demand for the recently

launched Tiago

LCV sales continued to grow at 10%

in August 2016

Strong exports growth of 27%

In August 2016, Tata Motors passenger

vehicles in the domestic market, recorded a

sale of 13,002 nos., a year-on-year growth

of 16%, compared to 11,163 nos. sold in

August 2015.

The overall commercial vehicles sales in

August 2016, in the domestic market were

at 23,464 nos., lower by 3%, over August

2015. The sales of Tata Motors Light

Commercial Vehicles continued to grow in

the domestic market at 13,495 nos., an

increase of\ 10% over August 2015.

The company’s sales from exports were at

6,595 nos., in August 2016, a growth of

27% compared to 5,201 vehicles sold in

August 2015. The cumulative sales from

exports for the fiscal were at 25,782 nos.,

higher by 8%, over 23,789 nos., sold last


Tata Motors PE Ratio (TTM): 19.52 for

Sept. 2, 2016 (as compared to Aug. 2,

2016: 16.99)

of excise) of Rs. 80,684 crores as against

Rs. 67,778 crores for the corresponding

quarter last year.

Consolidated Profit before tax (before

exceptional item) for the quarter was Rs.

5,957 crores, against Rs. 2,932 crores for

the corresponding quarter last year

The price to earnings ratio (PE Ratio) is

the measure of the share price relative to

the annual net income earned by the firm

per share. PE ratio shows current investor

demand for a company share. A high PE

ratio generally indicates increased demand

because investors anticipate earnings

growth in the future. The PE ratio has

units of years, which can be interpreted as

the number of years of earnings to pay

back purchase price.

PE ratio is often referred to as the

"multiple" because it demonstrates how

much an investor is willing to pay for one

dollar of earnings. PE Ratios are

sometimes calculated using estimations of

next year's earnings per share in the

denominator. When this happens, it is

usually noted.

Annual Results Financial Year 2015-16

Consolidated Net Revenue grows to Rs. 2,

75,561 crores in FY 2015-16

Consolidated PAT stood at Rs. 11,024

crores in FY 2015-16

Consolidated Financial Results for the

Quarter and Year ended March 31, 2016

For the quarter ended March 31, 2016, Tata

Motors reported consolidated revenues (net

Tata Motors Financial Results for the

Quarter and Year ended March 31, 2016

The revenues (net of excise) for the year

ended March 31, 2016, stood at Rs. 42,370

crores as compared to Rs. 36,302 crores in

the corresponding period last year.

Operating profit (EBITDA) for the year

stood at Rs. 2,740 crores with operating

margin at 6.5 %. Profit before and after tax

for the year ended March 31, 2016 was Rs.

150 crores and Rs. 234 crores, respectively,

against the Loss before and after tax of Rs.

3,975 crores and Rs. 4,739 crores,

respectively, for the corresponding period

last year.

Performance Ratios:

2016 2015

ROA 0.46 -9.51

ROE 1.26 -27.88

ROCE 4.40 -6.73

Return on Capital Employed (ROCE):

ROCE is a measure of how effectively a

company is able to deploy its capital base

(debt and equity) to generate returns for the

capital providers. A company which can

generate higher return from a lower capital

ase and continues to improve on the

same, should in theory, always be preferred

over its peers which need higher capital to

generate the same level of return and which

cannot sustain the growth in ROCE. As a

corollary, this superior ROCE performance

should get reflected through the growth in

share price.

Earnings Per Share

ended in Mar. 2016 was $0.83. Its diluted

earnings per share (Diluted EPS) for

the trailing twelve months (TTM) ended

in Mar. 2016 was $2.16

During the past 13 years, Tata Motors Ltd's

highest 3-Year average earnings per share

(NRI) Growth Rate were 69.60% per year.

The lowest was -6.10% per year. And the

median was 18.10% per year.

Tata Motors Ltd's diluted earnings per

share (Diluted EPS)for the three months

Contributed by:

Minni (MBA-I)

1mg Technologies Private Limited


Founded-2012; 4 years ago

Headquarters-Gurgaon, Haryana, India

Key people- Prashant TandonGaurav

AgarwalVikas Chauhan



1mg is ane-commerce health care

company based in Gurgaon,Haryana,India.

The company was founded in 2015 by

Prashant Tandon, Gaurav Agarwal and

Vikas Chauhan.1 mg operates anonline

market place for medicines, besides

facilitating medical appointments and

diagnostic test bookings.


1 mg was earlier known as Healthkart

Plus, the generic drug search business of

HealthKart, an online vendor of health

products run by Bright Lifecare Pvt. Ltd.

In April 2015, HealthkartPlus spun off into

a separate entity and rebranded itself as 1



1 mg entered the alternate medicine space

(AYUSH categories) through the

Acquisition of in

2015.[6]In 2016, 1 mg AcquiredMedd.into

enter radiology segment in the diagnostic


Awards and recognition:

*.Winner of m-Billionth award for m-

Health in South Asia

*.Recognized by the Government of India

- Ministry of Health and Family Welfare

as a m-health initiative that consumers can


*.Frost & Sullivan Award for "Innovative

Healthcare Service Delivery Model of the


*.Best App Award in medical category

from Global Mobile App Summit &

Awards for 2016 at Bangalore

India’s Trusted Pharmacy:

Purchase Medicines & Drugs Online in

India is No more running from one

chemist store to another when in need of

medicines! brings to you an

online medicine store, which can be

accessed for all health needs. With, you don’t just buy medicine

online, but can also book appointment with

the best doctors nearby. We are focused

towards making healthcare accessible and

affordable, and so give you plenty of

options in terms of medicine

substitutes.With us, you can know about

the composition of medicines prescribed to

you by your doctor and search for its

cheaper but equally effective substitute.

With online medicine delivery, we believe

in taking stress off your shoulders and

helping you focus only on your recovery.

We cater to the demands of online medical

order in places like Delhi – NCR, Chennai,

Agra, Indore, Hyderabad, Lucknow,

Bhopal, Bengaluru, Jaipur, Kolkata and


Fast and free :

Delivery of online ordered medicines at

your doorstep is our driving motto.Reach

us for online pharmacy store in India. On

our website, you will get detailed

information about 100K medicines vetted

by certified pharmacists. You can also

attach your prescription online whenever

you need to do so. Ayurvedic and

homeopathic categories are also our forte,

and a wide range of medicine is available

under these streams.

Adding new wings to E-Pharmacy:

We ensure complete health care for all.

The popular OTC categories at our website

are diabetes devices, Ayurveda and mother

& child.At you can explore

various online prescription medicines as

well as OTC products. Buying prescription

drugs online is very simple on 1mg, you

just need to search for the medicine, add to

cart and if the medicine requires a

prescription – you can upload a copy of the

prescription from your desktop right there

and proceed to checkout. You canalso buy

other health care products online that don’t

require a prescription. So shop for online

health care medicines for your personal

and family wellness.

Book appointment with doctors online :

If you are looking for the best specialized

doctors or hospitals in your locality, then

explore our website. Booking appointment

with doctors is much easy now with our

services along with purchasing medicines

online. From Child Specialist to

Gynecologist, Orthopaedician, Dietician,

Neurologist, all can be found and accessed

easilyon our website.

Diagnostic tests simplified:

Now, for prescribed tests, youdon’t need to

wait for hours in physical laboratories and

testing centers. This online medicine store

India also helps in getting free home

sample pickup. You just need to search for

prescribed tests and book your request.

Various recognized diagnostic labs are

registered with us to ensure safe and hassle

free tests.

Contributed by:

Khyati (MBA-I)




Founded-November 2014; 1 year ago

FoundeR- Samar Singla, Chinmay


Headquarters-Chandigarh, India

Area served-32 cities, India

Key people-Samar Singla(CEO)

Servic-Auto Rickshaw

Slogan-Chalo Jugnoo Se

Jugnoo is an Indianauto rickshaw

(popularly known as autos) Aggregation

Company headquartered in Chandigarh. It

provides on-demand transportation and

logistics services across 32 cities in India.

It develops and operates a mobile

application which helps connect the user

with the auto drivers in the vicinity. The

service was started in Chandigarh by

Samar Singla along with Chinmay

Agarwal, both alumni of IIT-Delhi, in

October, 2014.


Jugnoo App – an on-demand Auto

Rickshaw App connecting passengers

wishing to travel from one place to another

within a particular city, Jugnoo strive

towards making the most commonmode of

transportation i.e. Auto-Rickshaws more

affordable and user friendly and making

daily commuting of common people more

easy and hassle free.


The service can be availed on Android

(operating system), Apple iOS and

Windows Mobile by downloading the

application from the respective application

store. Jugnoo claims presence in 32 cities

across India namely







cknow,Mangalore,Tiruchirappalli and


How the app works:

Once the app is installed in a user's phone,

an auto rickshaw can be hailed through the

app. The user can choose to either pay in

cash or go cashless viaPaytm. The auto

arrives at the required pick-up point and

drops the user wherever required. Once the

ride is complete, a feedback is expected on

the scale of 1 to 5 rating displayed on the



Jugnoo raised $1 million seed funding

from a series of angel investors in May,

2015. A month later, it raised $5 million

Series A round fromAlibaba-backed Paytm

and SnowLeopard. Series B round of

funding commenced in November, with $3

million. In January, 2016, Jugnoo raised

another $5.5 million and three months

later, the company managed to raise

another fresh round of $4.5 million

funding, bringing the total to $10 million

in Series-B tranches.


Chandigarh is the headquarter and the

decision-makers operate from CDCL

building in Sector 28B

Samar Singla CEO, founder

Chinmay Agarwal CTO, co-founder

Isha Singla CPO

Varun Mittal CGO

Nitish Singh CFO

Jugnoo Auto Jugnoo gives you the

freedom of traveling stress-free in autorickshaws.

Get affordable and safe rides at

the lowest possible fares in your city.

Simply tap a button and a certified Jugnoo

driver will arrive at your desired pick-up

location within minutes.

Jugnoo works:

1. GPS detects your current location.

2. Tap the auto rickshaw button at the

centre and we ping the nearby Jugnoo


3. One of the Jugnoo autos accepts your

request and moves towards your pick-up


4. Instant confirmation along with the

driver’s details are displayed.

5. Track the Jugnoo auto coming your way

on themap or call the driver directly.

6. Carry the meter with you and pay

according to the distance travelled.

7. Pay the fare shown at the completion of

ride using cash or online wallets.

8. Refer your friends for free rides.

Jugnoo Auto Jugnoo gives you the

freedom of traveling stress-free in autorickshaws.

Get affordable and safe rides at

the lowest possible fares in your city.

Simply tap a button and a certified Jugnoo

driver will arrive at your desired pick-up

location within minutes.

Contributed by:

Surbhi (MBA-I)


Formerly called - Infotel Broadband

Services Limited (2009 - 2013)

Reliance Jio Infocomm Limited (2013 -


Type - Subsidiary

Industry - Telecommunications


Navi Mumbai,Maharashtra,India

Key people - Sanjay Mashruwalla

(Managing Director) Jyotindra

Thacker(Head of IT)Akash Ambani(Chief

of Strategy)

Products - Mobile telephony,broadband,

and4G Data services My Jio, JioChat,

JioPlay, JioBeats, JioMoney, JioDrive,

JioOnDemand, JioSecurity, JioJoin,

JioMags, JioXpressNews, Jionet WiFi

Parent - Reliance Industries

Subsidiaries - LYF

Website -

Jio, also known as Reliance Jioand

officially as Reliance Jio Infocomm

Limited (RJIL),is an upcoming provider of

mobile telephony, broadband services, and

digital services in India. Formerly known

as Infotel Broadband Services Limited, Jio

will provide 4G services on a pan-India

level using LTE technology.The telecom

leg of Reliance Industries Limited, it was

incorporated in 2007 and is based in

Mumbai, India.

The services were beta launched to Jio's

partners and employees on 27 December

2015 on the eve of 83rd birth anniversary

of late Dhirubhai Ambani, founder of

Reliance Industries. It will commercially

launch its services in the second half of



In June 2010, Reliance Industries (RIL)

bought a 96% stake in Infotel Broadband

Services Limited (IBSL) for Rs 4,800cr.

Although unlisted, IBSL was the only firm

to win broadband spectrum in all 22 zones

in India in the 4G auction that took place

earlier that year.Later continuing as RIL's

telecom subsidiary, Infotel Broadband

Services Limited was renamed as Reliance

Jio Infocomm Limited (RJIL) in January



In June 2015, Jio announced that it will

start its operations all over the country by

the end of 2015.However, four months

later in October 2015, the company's

spokesmen sent out a press release stating

that the launch was postponed to the first

quarter of the financial year 2016-2017.

Later in July, a PIL filed in the Supreme

Court by an NGO called the Centre for

Public Interest Litigation, through Prashant

Bhushan, challenged the grant of pan-India

licence to Jio by the Government of India.

The PIL also alleged that Jio was allowed

to provide voice telephony along with its

4G data service, by paying an additional

fees of just₹165.8 crore(US$25 million)

which was arbitrary and unreasonable, and

contributed to aloss of₹2,284.2

crore(US$340 million) to the exchequer.

The Indian Department of Telecom (DoT),

however, refuted all of CAG's claims. In

its statement, DoT explained that the rules

for 3G and BWA spectrum didn't restrict

BWA winners from providing voice

telephony. As a result, the PIL was

revoked, and the accusations were


Beta Launch:

The 4G services were launched internally

to Jio's partners, its staff and their families

on 27 December 2015. Bollywood actor

Shah Rukh Khan, who is also the brand

ambassador of Jio, kickstarted the launch

event which took place in Reliance

Corporate Park in Navi Mumbai, along

with celebrities like musician A.R

Rahman, actors Ranbir Kapoor and Javed

Jaffrey, and filmmaker Rajkumar

Hirani.The closed event was witnessed by

more than 35000RIL employees some of

whom were virtually connected from

around 1000 locations including Dallasin

the US.

The company is expected to commercially

launch its services in the second half of


Products and Services :

Reliance Jio 4G Broadband The company

will launch its 4G broadband services

throughout India in the first quarter of

2016-2017 financial year. It was slated to

release in December 2015 after some

reports said that the company was waiting

to receive final permits from the

government. Mukesh Ambani, owner of

Reliance Industries Limited (RIL) whose

Reliance Jio is the telecom subsidiary, had

unveiled details of Jio's fourth-generation

(4G) services on 12June 2015 at RIL's 41st

annual general meeting. It will offer data

and voice services with peripheral services

like instant messaging, live TV, movies on

demand, news, streaming music, and a

digital payments platform.

The company has a network of more than

250,000 km of fiber optic cables in the

country, over which it will be partnering

with local cable operators to get broader

connectivity for its broadband services.

With its multi-service operator (MSO)

licence, Jio will also serve as a TV channel

distributor and will offer television-ondemand

on its network.

Pan-India Spectrum:

Jio owns spectrum in 800 MHz and 1,800

MHz bands in 10 and 6 circles,

respectively, of the total 22 circles in the

country, and also owns pan-India licensed

2,300 MHz spectrum. The spectrum is

valid till 2035. Ahead of its digital services

launch, Mukesh Ambani-led Reliance Jio

entered into a spectrum sharing deal with

younger brother Anil Ambani-backed

Reliance Communications. The sharing

deal is for 800 MHz band across seven

circles other than the 10 circles for which

Jio already owns.

LYF Smartphones :

Main article: LYF In June 2015, Jio tied

up with domestic handset maker Intexto

supply 4G handsets enabled with voice

over LTE (VOLTE) feature. Through this,

it plans to offer 4G voice calling besides

rolling out high-speed Internet services

using a fiber network, in addition to the

4G wireless network. However, in October

2015, Jio announced that it would be

launching its own mobile handset brand

named LYF.

On 25 January 2016, the company

launched its LYF Smartphone series

starting with Water 1, through its chain of

electronic retail outlets, Reliance Retail.

Three more handset models have been

released so far, namely Water 2, Earth

1,and Flame 1.

Stadium (Mumbai), Punjab Cricket

Association IS Bindra

Stadium (Mohali), Himachal Pradesh

Cricket Association

Stadium (Dharamshala),Chinnaswamy

Stadium(Bengaluru),Feroz Shah

Kotla(Delhi), and Eden Gardens(Kolkata)

in India.

Branding and Marketing:

On December 24, 2015, Bollywood

actorShah Rukh Khan was appointed as

Jio's brand ambassador.

Jionet WiFi :

Prior to its pan-India launch of 4G data

and telephony services, Jio has started

providing free Wi-Fi hotspot services in

cities throughout India including

Ahmedabad Surat in Gujarat, and

Visakhapatnam in Andhra Pradesh,

Indore,Jabalpur,Dewasand Ujjain in

Madhya Pradesh, select locations

ofMumbai in Maharashtra, Kolkata in

West Bengal, Lucknow in Uttar Pradesh,

Bhubaneswar in Odisha, Mussoorie in

Uttarakhand, Collectorate's Office in

Meerut, and at MG Road in Vijayawada

among others.

In March 2016, Jio started providing free

Wi-Fiinternet to spectators at six cricket

stadiums hosting the 2016 ICC World

Twenty20 matches. Jionet was made

available in Wankhede

Contributed by:

Vidhi (MBA-I)

What is Mobile Connect?

The user authentication market as we

know it is about to change. There’s one

digital device in existence that has more

users than any other in the market. It’s in

use from the rural villages of India to the

sprawling metropolis of the world – the

mobile phone. Wouldn't it be great if you

could leverage your phone, which

basically never leaves your side, to

authenticate to and access online services?

Now you can, thanks to Mobile Connect.

Mobile Connect verifies you through the

device that you always keep with you -

your mobile phone. Safer log-in is literally

in your hands.

Easy to sign up

You can set up your Mobile Connect

account with your mobile provider in two


Just click on the Mobile Connect logo

when you see it as an option on a website

or application


Sign up directly with your mobile

provider. Most likely you will receive an

invitation via a text message, an email or

from their customer care portal.

GSMA and Mobile Connect

GSMA represents the interests of mobile

operators worldwide. There are several

working groups under the GSMA

advancing different mobile based

technologies, best practices and standards.

Under the Personal Data Working Group,

there’s a program called Mobile Connect.

At the core of Mobile Connect, there’s an

adapted version of the OpenID Connect

protocol with the aim to create a federated

and global mobile identity ecosystem.

Let’s take that last sentence apart to get

more sense into the techno gibberish.

Mobile Connect is Global

In some parts of the world, the mobile

phone is a very basic device. In some other

parts, most people will walk their nose

pointed firmly towards the ground (and the

5” screen) as they check their latest snaps,

Facebook updates, or try to get through to

the next level in Clash of Clans. The

global aspect of Mobile Connect takes this

into account and allows mobile operators

to choose the method of user

authentication that is appropriate for their

subscribers. More basic devices could use

a simple SMS based or non-PKI SIM

based authentication, whereas more

advanced devices could use an app and the

fingerprint to authenticate users to online


The GSMA calls these authenticators. An

authenticator is the piece of technology

that provides the means for the end user to

establish his identity. An authenticator

always uses a device that has an MSISDN

(that’s the phone number in plain English).

This is the first clever bit of Mobile

Connect. The MSISDN can be considered

as a unique attribute or identifier.

Online services connect to an operator

Identity Gateway using the standardized

Mobile Connect protocol. The Identity

Gateway connects to the authentication

server. The authentication server takes care

of the actual authentication event by

sending the authentication request to the

authenticator and validating the response.

The type of authenticator(s) selected by the

operator defines what kind of

authentication servers are required.

Sometimes the Identity Gateway and the

authentication service come from different

vendors. The selection of authenticators is

a local issue.

As the communication between the online

service provider and the identity gateway

is standardized, it is straightforward to

connect online services and identity

gateways on a global scale.

Mobile Connect is federated

The second clever part of Mobile Connect

is in the federation. Federation is a

technology (and agreements) that allow

users to move between independent

domains without re-authentication. In the

Mobile Connect concept, it allows a

subscriber of an operator in India for

example, to log into an online service in

the UK. The key to this capability is

something called the discovery service.

The normal scenario is that the online

service provider is connected to the GSMA

Discovery Service (and the Identity

Gateway). This discovery service provides

the login screen for the end user where the

phone number will be typed in by the user.

Now for the magic part. The discovery

service will check the phone number

and… erm… discover that it belongs to an

India based operator and routes the

authentication request to the home

operator of the user. The home operator

then pushes the authentication request to

the user's mobile device and the user

authenticates Simple.

Enabling the Subscriber

When the operator decides to deploy

Mobile Connect they will first have to

build the infrastructure. So they

acquire/build an identity gateway and

choose appropriate authenticators for their

subscribers. Deploying the hub of the

solution, the identity gateway can be done

the easy or the hard way. The easy way

could be for example using Global Sign

Identity Gateway as a managed solution.

This can be up and running in two hours

after we receive the call. The hard way is

to do it in-house and create a development

team, try to pass the conformance tests and

maintain the in-house solution as the

protocol develops and new features are

added over time.

Then it’s a question of selecting the

authenticator(s). The chosen authenticator

is dependent on the market situation and

what the subscribers can utilize. There are

authenticators options that rely on SMS

based technologies and won’t require

anything extra to be installed to the user’s

phone. The next category would be an

authenticator that involves an installation

of a small SIM based application, but still

using SMS based communication. The

larger SIM applications, for example PKI

based operations, typically require a new

SIM card and means that the subscriber

has to visit the operator shop to change his

SIM card, however they still use SMS for

last leg of the journey from the

authentication server to the user device.

Then we have smartphone app

authenticators (SAA).

The cost of deploying an authenticator is

an important fact to consider. SAA

deployment and the simple SMS based

authenticators have zero deployment costs

for the operator. A non PKI based SIM

client costs a handful of SMS messages to

deploy. If the user needs to swap the SIM

and visit the operator shop, the cost of the

deployment will be at the 10-20$ range /


Level of Assurance (LOA)

Depending on the chosen authenticator, the

method will be assigned number (1-4)

reflecting the Level of Assurance (LOA)

of the authenticator. A multi-factor

authenticator will get a higher number as

they can be considered stronger.

Authenticators that can provide proof that

someone pressed “ok” on the mobile

phone are assigned a lower number. The

online service provider can request a

certain level of assurance when they want

to authenticate the end user.

It’s worth noting that at this moment the

LoA of the Mobile Connect only describes

the strength of the authentication method,

not the identity. The strength of the

identity relates to the registration process

itself and how the subscriber has been

verified when he acquired his mobile

phone subscription. In some markets, prepaid

subscriptions can be acquired without

any kind of identity verification. Post-paid

(invoiced) subscriptions in most markets

require a thorough identity verification.

Mobile Connect has the potential to

become a global method of authenticating

online users. In the next part of this blog

post I will take a look at the benefits of

Mobile Connect for end users, service

providers and mobile network operators

and discuss how to get started with Mobile

Connect. We’ll also take a look at edge

cases operators need to figure out if they

want their Mobile Connect deployment to

be successful.

Easy to use:

1. Once registered, simply click on the

Mobile Connect logo whenever you see it

as a log-in option.

2. A message will then pop up on your

mobile phone. This may ask you to click a

simple OK or, if the site or app requires a

higher level of security, you may need to

enter a personal code such as a PIN.

3. As soon as you respond to this prompt,

Mobile Connect verifies you and you’re

logged in to website or application.





Mobile Connect is provided by a global

network of mobile providers with decades

of experience in managing customer

information safely and securely.

In which countries is Mobile Connect


Mobile Connect is currently being

deployed in various countries including

Bangladesh, China, Indonesia, Malaysia

and Sri Lanka. More mobile

providers/carriers will be offering the

service so check with your local mobile

provider to find out when Mobile Connect

is coming to your region/country.

Where can I use the service?

Websites and applications offering the

service will display the Mobile Connect

logo. It works when logging in on any

internet-enabled device – computer, tablet,

smart or feature phone but remember it is

always your mobile phone that confirms

your identity.

How safe is Mobile Connect?

With typical username/password schemes,

there’s a danger that other people will

discover or guess your password and steal

your identity. With Mobile Connect

however, you use your mobile number and

mobile phone to verify your identity. As

you are the only person in possession of

your phone, you are the only person who

can log-in.

What happens if my mobile phone is lost

or stolen?

You can always call your operator to

report that your device has been lost or

stolen. Your Mobile Connect account will

be blocked to ensure that it cannot be used

to log into your service.

Will my personal information be shared

with other people?

Your mobile provider won’t pass on your

mobile phone number unless you give

your permission When Mobile Connect

does request additional information, for

example, when you wish to make secure

online payments, you can be reassured the

information you disclose will only be used

for the intended purpose.

How do I register to use Mobile


Your mobile provider might invite you to

pre-register for Mobile Connect; this

invitation might be via a text message, an

email or invitation from their customer

care portal. Alternatively you might first

see the Mobile Connect logo on a third

party website and click on it. Before you

can use the service you need to complete a

straightforward registration process, which

includes agreeing to your operator’s

Mobile Connect service T&Cs and

confirming your mobile number. Once you

are signed up to Mobile Connect you can

use the service every time you see the


What happens if a website requires

higher security levels?

If the site or app requires a higher level of

security, your bank for example, you may

need to enter a personal code such as a



Back in 2007, when Flipkart was

launched, Indian e-commerce industry was

taking its beginner steps. The company is

registered in Singapore, but their

headquarters are in the city of Bangalore,



Sachin Bansal and Binny Bansal who

were working for had an idea

to start an e-commerce company in India.

Both of them are alumni of IIT, Delhi

and are native of Chandigarh, India. They

left their jobs in Amazon to start their own


One can easily call that a risky move. In a

country where people have various tastes

and preferences, an ecommerce start-up

will always have enormous challenges. In

India, people often prefer to shop in person

and buy goods they see and like. Today,

thanks to Flipkart, e-commerce has

become one of the fastest growing sectors

in India.

How it Started

Flipkart began selling books to begin with.

It soon expanded and began offering a

wide variety of goods. Innovating right

from the start, Flipkart has been home to

few of the striking features of Indian e-


Fundings History

In the first few years of its existence,

Flipkart raised funds through venture

capital funding. As the company grew in

stature, more funding arrived. Flipkart

repaid the investors’ faith with terrific

performances year after year. In the

financial year 2008-09, Flipkart had made

sales to the tune of 40 million Indian

rupees. This soon increased to 200 million

Indian rupees the following year.

Their last round of Fundraising had

increased their value to $ 15 billion,

however, as of February 2016, according

to Morgan Stanley, their estimated value

stands at $11 billion.


Back at the time when Flipkart was

launched, any e-commerce company faced

two major difficulties. One was the

problem of online payment gateways. Not

many people preferred online payment and

the gateways were not easy to set up.

Flipkart tackled this problem by

introducing cash on delivery and payment

by card on delivery in addition to others.

Flipkart was the first to implement the

popular ‘Cash On Delivery’ facility, which

every online shopping website in India

offers as an option today.

The second problem was the entire supply

chain system. Delivering goods on time is

one of the most important factor that

determines the success of an ecommerce

company. Flipkart addressed this issue by

launching their own supply chain

management system to deliver orders in a

timely fashion.

Today as it stands, Sachin Bansal is the

Chairman of the company and Binny

Bansal is the CEO of Flipkart.


Flipkart also acquired few companies like, etc., to better

their presence in the market. With the

entry of in India, the

competition between the companies has

seen many takeovers. Flipkart’s journey

from a small book e-retailer to India’s

largest e-commerce platform inspires a

generation of start-ups. In a country where

stereotypes are common, Flipkart managed

to break the norm and change the

ecommerce industry in India for ever.

Flipkart’s story proves that if you have a

great idea, and you are a doer and not a

thinker, success is not far off.

Contributed by:

Varun (MBA-I)


Jack Ma is the kind of exceptional and

talented leaders who redefine the path of

success. Defying the odds Jack Ma

spearheaded e-commerce in China. As the

executive Chairman and founder of

Alibaba group, China’s leading internet

business entity, he is among the topmost

Chinese entrepreneurs, who made it to the

coveted Forbes in recent years.

Jack Ma was born and raised in Hangzhou

in China’s Zhejiang Province. Hiszeal to

enhance his aptitude and acquire new skills

was evident from childhood. He forayed

into website making when the concept was

in its infancy in China. In 1995, he started

an online business when computers had

not yet become a household item in China.

Despite being deemed risky, his

determination was unaffected. Thus China

pages, possibly the first officially

registered web business of China were set

up. In 1999 he set up Alibaba as a B2B

marketplace site. enabled

Chinese exporters to connect with overseas

buyers. Ma managed to attract SoftBank

and Goldman Sachs as investor later.

After consolidating the position of

Alibaba, Ma shifted focus to consumer-toconsumer

platform. Taobao was formed in

2003. His strategy to keep it free affected

the profits and drew widespread criticism,

but Ma was unruffled. Taobao gained

majority of market share in two years. The

courage to take an establishment giant like

eBay and emerge a winner is no mean feat.

Alibaba group has diversified into nine

major subsidiaries including Alipay and

Alibaba ventured into the state-dominated

and staid industries in China including

finance and retail. Ma is now venturing

into film production. A visionary, Jack Ma

is an inspiration to an entire generation.

Contributed by

(Palak Gogia)


We are all aware of OYO Rooms which is

a very successful start-up. OYO rooms are

the country’s largest budget hotel chain

with about 50000 rooms in 500 hotels all

over India. OYO does not own hotels;

instead, it ties up with certain hotels and

acquires certain rooms to be given out to

people who want to avail OYO services. It

focuses on standardizing the hotels in the

non-branded hospitality sector. OYO

rooms are a very successful venture as it

has managed to solve the issue of

affordability, cleanliness and availability

of budget hotels across all Tier-1 and Tier-

2 cities in the country.

Ritesh Agarwal, a successful entrepreneur

is only 23 years old and has several

accolades to his credit. He was born in

Cuttack. To pursue his passion he enrolled

into a Indian School of business and

Finance, but left it mid-way to start his

own company. He was very clear about

what he wanted to do.

At the age of 17, he launched Oravel

travels, modelled after Airbnb, which later

branched out to become OYO rooms. Soon

he discovered that problem with budget

hotels was bigger than just availability, so,

to counter other issues he launched OYO.

The very year he launched Oravel travels,

he was nominated of the Thiel fellowship.

The fellowship is designed by Peter Thiel,

the founder of PayPal and provided a

college drop-out a sum of $100,000 to

pursue a start-up dream. He is the only

Indian to receive it. He has certain awards

and credentials to his name. Some of

which are

Forbes “30 under 30” in consumer

tech sector

Top 50 entrepreneurs in 2013 by

TATA First Dot powered by NEN


TiE-Lumis entrepreneurial

Excellence awards 2014

Business World young

entrepreneur award.

Apart from an entrepreneur, he is an

author, coder and a great orator.



Success Story of Sunil Bharti Mittal

Achievement: Chairman and Managing

Director of Bharti Group, India's largest

GSM-based mobile phone service

provider; IT Man of the Year Award 2002

from Dataquest and CEO Of the Year,

2002 AwardFrom World HRD Congress.

Sunil Mittal can be called as originator of

Cellular phone revolution in India. He is

the founder, Chairman and Managing

Director of Bharti Group and runs India's

largest GSM based mobile phone service.

Sunil Bharti Mittal's father was an M.P.

Sunil did not follow his father's footsteps.

After graduating from Punjab University

in 1970s, he set up a small bicycle

business in Ludhiana in partnership with

his friend. By 1979, Sunil Mittal realized

that his ambitionscould not be fulfilled in

Ludhiana, so he moved out to Mumbai

from Ludhiana.

He spent a few years in Mumbai and in

1982, Sunil Mittal started a full-fledged

business selling portable

Generators imported from Japan. This

gave him a chance to acquaint himself

with the nitty-gritty's of marketing

And advertising. His business was running

smoothly but later on the government

banned the import of generators

as two Indian companies were awarded

licenses to manufacture generators locally.

In 1986, Sunil Bharti Mittal incorporated

Bharti Telecom Limited (BTL) and

entered into a technical tie up with

Siemens AG of Germany for manufacture

of electronic push button phones.

Gradually he expanded his business.

Contributed by:

And by early 1990s, Sunil Mittal was

making fax machines, cordless phones and

other telecom gear.

In 1992, when the Indian government was

awarding licenses for mobile phone

services for the first time, Sunil

Mittal clinched Delhi cellular license in

collaboration with French telecom group

Vivendi. In 1995, Sunil Mittal

Founded Bharti Cellular Limited (BCL) to

offer cellular services under the brand

name AirTel. Soon, Bharti

became the first telecom company to cross

the 2-million mobile subscriber mark.

Bharti Cellular Limited also

rolled out India's first private national as

well as international long-distance service

under the brand name

IndiaOne. In 2001, BCL entered into a

joint venture with Singapore Telecom

International for a $650-million

Submarine cable project, India's first ever

undersea cable link connecting Chennai in

India and Singapore.

Today, Sunil Mittal runs a successful

empire with a market capitalization of

approximately $ 2 billion and

employing over 5,000 people. He has been

honored with several awards. Sunil Bharti

Mittal was chosen as one

of the top entrepreneurs in the world for

the year 2000 and amongst 'Stars Of Asia',

by 'Business Week'. He also

Received IT Man of the Year Award 2002

from Dataquest and CEO of the Year,

2002 Award (World HRD


Tanuj (MBA-I)

Accrual Accounting : When transaction are recorded in the books of accounts as

they occur even if the payment for that particular product or service has not been

received or made, it is known as accrual based accounting.

Accounts Receivable: Accounts receivable is the payment which a company

received from its customers who have purchased its goods or services on credit.

Accounts Payable: Accounts payable is the amount which a company pays to its

suppliers for the goods and services purchased on credit. Accounts payables are the

short term liabilities for the business.

Rate of Return: Rate of return is the profit which a investor received on his

investment over a period of time. It is expressed as a proportion of the original


Abnormal Rate of Return: Abnormal rate of return is the profit generated by an

investment over a period of time which is higher than the expected rate of return.

Unsecured Loan: An unsecured loan is a loan where the loan taker doesn’t provide

the loan giver with any security when he borrows money. This type of loan usually

carries a higher interest rate then secured loan due to the fact that unsecured loan are

associated with a higher risk for the bank.

Pro Forma Invoice: Pro forma invoice is a type of invoice that is send from seller to

buyer before any goods are sent out. It states a commitment on part of the seller to

deliver the goods or services as notified to the buyer for a specific price.

Cash Flow: Cash flow is the overall movement of money in a business including

incomes and expenses.

Bottom Line: Bottom line is the last line of the financial statement. It refers to a

company’s net earnings, net incomes or earnings per share.

Abandonment Value: Abandonment value is the cash value of project or a asset if it

is liquidate immediately.

Agent: An agent is a person who works on behalf of someone. He is legally

empowered to act on behalf of another person or to represent him in dealing with

third parties.

Gearing: Gearing refers to the level of a company’s debt related to its equity capital,

usually expressed in percentage form. It is a measure of a company’s financial

leverage and shows the extent to which its operations are funded by lenders versus


Budget: A budget is an estimation of the cost, revenues and expenses over a

specified future period of time.

Capital Employed: Capital employed is the total amount of capital used for

acquisition of profit. It is the value of all assets employed in a business.

Initial Public Offer: Initial public offer is the first time that the stock of a private

company is offered to the public. Through this process, a privately held company

transforms into a public company.

Net Present Value: Net present value is the difference of the present value of cash

inflow and the present value of cash outflow which is calculated for the measurement

of the profitability of an business

'Balloon Payment: Balloon payment is the lump sum payment which is attached to

a loan, mortgage, or a commercial loan. This payment is usually made towards the

end of the loan period. Balloon payment is higher than what you might be paying

towards the loan on a monthly basis.

'Capital Adequacy Ratio’: Capital Adequacy Ratio (CAR) is the ratio of a bank's

capital in relation to its risk weighted assets and current liabilities. It is decided by

central banks and bank regulators to prevent commercial banks from taking excess

leverage and becoming insolvent in the process.

'Esop': An employee stock ownership plan (ESOP) is a type of employee benefit

plan which is intended to encourage employees to acquire stocks or ownership in the


'Infrastructure Investment Trust: An Infrastructure Investment Trust (InvITs) is

like a mutual fund, which enables direct investment of small amounts of money from

possible individual/institutional investors in infrastructure to earn a small portion of

the income as return. InvITs work like mutual funds or real estate investment trusts

(REITs) in features. InvITs can be treated as the modified version of REITs designed

to suit the specific circumstances of the infrastructure sector.

'Mortgage-backed Securities: Mortgage-backed security (MBS) is a type of assetbacked

security collateralized by a pool of mortgages. This essentially represents

transfer of credit risk from a primary lender, typically the originating bank, to an

investment bank. The process involves purchase of mortgage loans by a bulge

bracket investment bank from various loan originators and bundling them into pools.

'Dead Cat Bounce: 'Dead Cat Bounce' is a market jargon for a situation where a

security (read stock) or an index experiences a short-lived burst of upward movement

in a largely downward trend. It is a temporary rally in the price of a security or an

index after a major correction or downward trend.

'Debt Consolidation' :Debt consolidation means combining more than one debt

obligation into a new loan with a favorable term structure such as lower interest rate

structure, tenure, etc. Here, the amount received from the new loan is used to pay off

other debts.

'Distributive Bargaining': Distributive bargaining is a competitive bargaining

strategy in which one party gains only if the other party loses something. It is used as

a negotiation strategy to distribute fixed resources such as money, resources, assets,

etc. between both the parties.

‘Bankruptcy’: When an organization is unable to honor its financial obligations or

make payment to its creditors, it files for bankruptcy. A petition is filed in the court

for the same where all the outstanding debts of the company are measured and paid

out if not in full from the company's assets.

'Chattel Mortgage': Chattel mortgage is a loan extended to an individual or a

company on a movable property. Here, the 'chattel' or the movable personal property

which could be a car or a mobile home can be used as a security to extend the loan.

'Fully Drawn Advance’: Fully drawn advance is a financing method which gives

you the freedom to take funds or a loan but only for longer durations. It is an ideal

way of financing assets which have a long shelf life such as real estate or a

manufacturing plant and equipment, etc.

'Open Book Management: Open book management (OBM) is defined as

empowering every employee of an organization with required knowledge about the

processes, adequate training and powers to make decisions which would help them in

running a business. It is all about team work and moving forward collectively.

'Derivatives': A derivative is a contract between two parties which derives its

value/price from an underlying asset. The most common types of derivatives are

futures, options, forwards and swaps.

'E-wallets: E-wallet is a type of electronic card which is used for transactions made

online through a computer or a Smartphone. Its utility is same as a credit or debit

card. An E-wallet needs to be linked with the individual's bank account to make


'Securities Transaction Tax': STT is a kind of turnover tax where the investor has

to pay a small tax on the total consideration paid or received in a share transaction.

'Priority Sector Advances': As per the RBI, Priority sector advances 'constitute

lending to those sectors of the economy which may not get timely and adequate

credit in the absence of this special dispensation.'

Arbitrage : The simultaneous purchase and sale transactions in a security or a

commodity, undertaken in different markets to profit from price differences

Consortium: A term generally used in banking: it refers to a group of banks

associating for the purpose of meeting the financial requirements of a borrower, such

as WORKING CAPITAL or a term loan. In business, the term applies to a group of

companies, national or international, working together as a joint venture, sharing

resources and having interlocking financial agreements.

Dumping: The sale of goods in a foreign market at a price that is below the price

realized in the home country, after allowing for all costs of transfer including

transportation charges and duties. The motive may be to enhance revenues, offload

surplus stocks or a predatory intent of killing foreign competition.

Hedging: The action of combining two or more transactions so as to achieve a riskreducing

position. The objective, generally, is to protect a profit or minimize a loss

that may result on a transaction.

Letter of credit: A financial instrument issued by a bank on behalf of a purchaser of

goods, undertaking responsibility to pay a certain amount during a specified period,

for goods delivered.

Pre shipment credit: Funds lent by banks in rupees or foreign currency (PCFC) to

exporters, prior to the shipment of goods. Pre-shipment finance can be in the form of

packing credit, advance against cash incentives and others. Packing credit is offered

to an exporter for purposes of packing and shipment and also manufacture of goods.

Such credit may be in the form of a loan, CASH CREDIT or OVERDRAFT facility.

Seed Capital: The financial assistance towards a promoter's equity contribution.

Seed Capital, alternatively called 'Equity Support', is to enable promising

entrepreneurs with inadequate capital to set up their enterprises. The assistance is

usually in the form of a loan at very generous terms, as e.g., a long MORATORIUM

period, nominal service charge and a lengthy repayment period.

Arbitrage :The simultaneous purchase and sale transactions in a security or a

commodity, undertaken in different markets to profit from price differences

Angel Investor – These are high worth individuals who provide seed capital for

start-ups in return for a minority share in business.

Capital Market Line :This is a graphical line which represents a linear relationship

between the expected return and the total risk (standard deviation) for efficient

PORTFOLIOS of risky and riskless securities

Capital Reserves: The reserves created in certain ways that include the sale of

FIXED ASSETS at a profit. These amounts are regarded as not available for

distribution as DIVIDENDS

Chit Fund: This is a non-banking financial intermediary. A chit fund scheme

typically involves the collection of periodic subscriptions from enrolled members,

which is then disbursed as a loan to a member. The member is selected either by lot

or through an auction. The promoter is also called the 'Foreman' and the capital given

out is called 'Prize Money

Devaluation: The lowering of a country's official exchange rate in relation to a

foreign currency (or to gold), so that exports compete more favorably in the overseas

markets. Devaluation is the opposite of REVALUATION

Hot Money: This refers to large amount of short-term funds held internationally by

banks, institutions and wealthy individuals which quickly move out of or into a

country, usually, in anticipation of exchange rate movements or interest rate changes.

Hot Money is, therefore, an unstable source of funds.

ICRA: An acronym for the credit rating institution. Investment Information and

Credit Rating Agency of India Limited, which has subsequently been rechristened as

ICRA Limited

Contributed by: -

Kalana (MBA-I)

Simran Chabra (MBA-I)


Q.1. Who is the 1 st Indian woman CEO of a foreign bank?

a. Chanda Kochar b. Arundhati Bhattacharya

c. Tarini Vaidya d. Shikha Sharma

Q.2. which term is used for depreciating a company’s intangible assets?

a. Amortization b. Evasion

c. Dodging d. Ducking

Q.3. which is the smallest country with highest per capita income?

a. Vietnam b. Luxembourg

c. Maldives d. Vatican City

Q.4. Who is the founder-editor of Economic Times?

a. PS Hariharan b. T.N. Ninan

c. Jaideep Bose d. Bodhisatva Ganguli

Q.5. What is the exchange rate of one currency for another over a fixed period of time called?

a. Currency Exchange b. Currency Conversion

c. Currency Swap d. Currency Trade

Q.6. In which country’s coins you can found the following lines imprinted. “This is the root of

all evils”?

a. Monaco b. Vatican City

c. San Marino d. Malta

Q.7. Name the India’s largest Mutual Fund scheme which recently had a troublesome run and

make investors unhappy?

a. US 64 from UTI b. SBI BlueChip Fund

c. HDFC Capital Builder Fund d. IDBI Dynamic Bond

Q.8. what is ANCOM?

a. Andean Common Market b. Andean Commercial Market

c. Ancient Corporate Model d. Andean Corporate Model


Q.9. what is known as the purchase of insurance against losses because of currency fluctuations?

Q.10. Who is the first woman to become the President of Madras Chamber of Commerce?

Q.11.Which is India’s first Equipment Bank launched recently by SREI International Finance


Q.12. what do you call when a firm’s actual bank balance is greater than the balance shown in

the firm’s books?

Q.13. which successful investor is popularly known as “THE ORACLE OF OMAHA” with his

famous quote “Rule No.1: Never loss money, Rule No.2: Never forget Rule No.1?






Contributed by:

Tanvi (MBA-II)

1 C



2 3 4 5 S






13 A


14 I O

8 11 N








22 I


16 17

19 20
















25 26




29 N A




28 M





1. Decision to make long term investment.(16)

2. A big terrorist organization.(4)

3. First state in India to pass GST bill.(5)

4. Space agency of Indian govt, having headquarter in city of Bangalore.(4)

5. New Brand ambassador of ‘Beti bachao, Beti padhao’ in Haryana.(11)

6. Measures of Inequality of distribution.(15)

10. A person gets compensation for goods destroyed by fire. Here, his goods were


11. American multinational corporation engaged in marketing and manufacturing of


12. Chief Minister of Kerala. (15)

14. Organization for setting standards. (3)

16. Newly appointed MD, CEO of SBI mutual fund. (11)

18. Headquarter of World Bank is in_____. (11)

19. Union Health Minister of India. (7)

20. Make changes in text. (4)

26. Agency of govt. of India for Insurance sector supervision and development.(4)

28. Kalraj Mishra is Union cabinet minister of ______.(4)


1. System where properties are privately owned and economic decisions are taken


7. Third largest private bank in India.(4)

8. Scheme related to irrigation launched by PM Modi, in Jamnagar (near Rajkot).(5)

9. Code issued under Indian Income Tax Act,1961.(3)

13. “SAARC” here 1 st ‘A’ stands for?(5)

15. Text message is also known as.(3)

17. A form for data storage.(3)

21. U.S. Company _____ technologies Inc., that deals in computers and related products and


22. The atomic number -26 is of____.(4)

23. Planning Commission has been replaced by _____ Aayog. (4)

24. First state in India to distribute 2 cr. LED bulbs under UJALA scheme. (7)

25. A flat, thin circular object.(4)

27. Collection of commonly followed accounting rules and standards for financial


29. Person who is not the resident of India.(3)

30. One type of analysis of business environment.(4)

31. UNCTAD-“C” stands for.(10)


Contributed by:

Job Alert

IBPS RRB 2016 Notification Apply Online for Over 16700 Gramin Bank Jobs

About this Job Notification

Posted on: 10-09-2016 Ends On: 30-09-2016

Class: Bank Jobs

Qualifications: Ex-Servicemen, Bachelor of Science (B.Sc.), Bachelor of Law

(LLB),Graduation (Others), Graduation (All Trades), Master of Business Administration

(MBA), Chartered Accountant (CA), Engineer (Computer Science), Engineer (Electronics

And Communication)

Experience Type: Fresher, Experience

Tenure Type: Permanent

States: Andhra Pradesh, Uttar Pradesh, Arunachal

Pradesh, Assam, Bihar,Chhattisgarh, Delhi, Goa, Gujarat, Haryana, Himachal

Pradesh, Jammu and Kashmir, Jharkhand, Karnataka, Kerala, Madhya

Pradesh, Maharashtra, Manipur, Meghalaya,Mizoram, Nagaland, Orissa, Punjab, Rajasthan,

Sikkim, Tamil Nadu, Telangana, Tripura, Uttaranchal, West Bengal, Union Territories

Institute of Banking Personnel Selection

(IBPS) has Issued Notice for Conducting Fifth

Phase of Common Recruitment Process for

Officers (Scale 1,2,3) and Office Assistants

Posts in 56 Government owned Regional Rural

Banks in the country.

Major Pattern change have been Introduced in

Officers (Scale 1,2,3) and Office Assistants

Recruitment in Regional Rural Banks This

Time. Selection process summarizes as -

Officers Scale 1 - Prelims and Mains Online

examination to be followed by Common


Officers Scale 2, 3 - Single Stage Online

examination to be followed by Common


Office Assistants - Prelims and Mains Online


Candidates who get shortlisted in selection

process as prescribed posts will be allotted to

one of participating Gramin banks on the basis

of Merit and Choices made by candidates.

Online Application for this Common

Recruitment Process for Officers (Scale 1,2,3)

and Office Assistants Posts in 56 Government

owned Regional Rural Banks shall be active

between 14-09-2016 to 30-09-2016 (Both

dates Inclusive).

A candidate can apply for the Post of Office Assistant (Multipurpose) and can also apply for

the Post of Officer. However a candidate can apply for only one post in officer’s cadre i.e. for

Officer Scale-I or Scale-II or Scale-III.

Vacancies and Eligibility:

Post Age Limit Qualification

Office Assistants

Officers Scale 1

Officers Scale 2

18 - 28 (born

between 02-09-

1988 to 01-09-


18 - 30 (born

between 03-09-

1986 to 31-08-


21 - 32 (born

between 03-09-

1984 to 31-08-


Degree in any discipline and

Proficiency in local language

Degree in any discipline and

Proficiency in local

language (Preference will be given to

the candidates having degree in

Agriculture, Horticulture, Forestry,

Animal Husbandry, Veterinary

Science, Agricultural Engineering,

Pisciculture, Agricultural Marketing

and Cooperation, Information

Technology, Management, Law,

Economics and Accountancy)

1. General Banking Officer -

Degree in any discipline with

50% marks and Two years

experience as an officer in a

Bank or Financial Institution

2. Information Technology

Officer - Degree from a

recognised University in

Electronics / Communication /

Computer Science / Information

Technology or its equivalent

with a minimum of 50% marks

in aggregate and 1 years


3. Chartered Accountant -

Certified Associate (CA) from

Institute of Chartered

Accountants of India and 1 year


4. Law Officer - Degree in Law

(LLB) with 50% marks and 2

years experience

5. Treasury Manager - Certified

Associate (CA) from Institute of

Chartered Accountants of India

or MBA in Finance with 1 year


Officers Scale 3

21 - 40 (born

between 03-09-

1976 to 31-08-


6. Marketing Officer - MBA in

Marketing with 1 year


7. Agricultural Officer - Degree

in Agriculture/ Horticulture/

Dairy/ Animal Husbandry/

Forestry/ Veterinary Science/

Agricultural Engineering/

Pisciculture with 50% marks

and 2 year experience

Degree in any discipline with 50 %

marks and 5 years experience e as an

Officer in a Bank or Financial


All the educational qualifications

mentioned should be from a University/

Institution/ Board recognized by Govt. Of

India/ approved by Govt. Regulatory

Bodies and the result should have been

declared on or before 30-09-2016.


IBPS has this time announced vacancies

for participating gramin banks along with

the notification. There are a total

of 16560 Officers (Scale 1,2,3) and Office

Assistants Posts in 56 Government owned

Regional Rural Banks. Note that MALWA


Dates to Consider:

Online Application and Online payment of

Fee : 14-09-2016 to 30-09-2016

Preliminary Online Examination

(Tentative dates) : Officer Scale-I - 05 &

06-11-2016 Office Assistant- 12, 13 & 19-


Declaration of result of Preliminary

examination : Officer Scale-I November

2016 Office Assistant- December 2016

Main Online Exam : Officers (I, II & III)

11-12-2016 Office Assistant - 18-12-2016

Declaration of Result Main (For Officers

Scale I, II and III) - December 2016

RURAL BANK have not reported their

vacancies yet so we may expect these

numbers to be around 17000 in all, which

surely is a great news for all Aspirants.

Office Assistants - 8824

Officers Scale 1 - 5539

Officers Scale 2 -

GBO - 1533

IT Officer - 130

CA - 35

LAW - 55

Treasury -19

Marketing - 75

Agriculture - 152

Officers scale 3 - 198

Conduct of interview (For Officers Scale I,

II and III) - January 2017

Provisional Allotment (For Officers Scale

I, II and III & Office Assistants) -

February 2017

Exam Pattern:

Major Pattern change have been

Introcuced in Officers (Scale 1,2,3) and

Office Assistants Recruitment in Regional

Rural Banks This Time. Selection process

summarizes as -

Officers Scale 1 - Prelims and Mains

Online examination to be followed by

Common Interviews.

Officers Scale 2, 3 - Single Stage Online

examination to be followed by Common


Office Assistants - Prelims and Mains

Online examination.

For Officers Scale 1 & Office Assistants

Preliminary test - Will be held on Officer

Scale-I - 05 & 06-11-2016 Office

Assistant- 12, 13 & 19-11-2016. It will

have 80 marks and will have to be

attempted in 45 minutes.

For Office Assistant - 40 questions from

each of Reasoning and Numerical Ability

and For Officers Scale 1 - 40 questions

from each of Reasoning and Quantitative


Candidates who clear the Prelimnary test

will later be called for mains test on

Officers (I, II & III) 11-12-2016 Office

Assistant - 18-12-2016.

Provisional allotments to any of

participating banks will later be made in

April 2016 based on preferences given by

candidates and their Overall performance

in selection process as applicable.

Mains Online Objective test for Officers

Scale 1 & Office Assistants (200

Questions - 120 Minutes)

25 % marks of the question will be

deducted for incorrectly answering it.

For Officer Scale 2 & 3

Single level Examination (objective)

Officer Scale-II (General Banking Officer)


Scale 2 -

General Banking Officer

Total 200 Questions for 120 Minutes.

Reasoning - 40 questions (50 Marks),

Quantitative Aptitude & Data

Interpretation - 40 questions (50 Marks),

Financial Awareness - 40 questions (40

Marks), English Language / Hindi

Language - 40 questions (40 Marks),

Computer Knowledge - 40 questions (20


Specialist Cadre -

Total 240 Questions for 150 Minutes

Reasoning - 40 questions (40 Marks),

Quantitative Aptitude & Data

Interpretation - 40 questions (40 Marks),

Financial Awareness - 40 questions (40

Marks), English Language / Hindi

Language - 40 questions (20 Marks),

Computer Knowledge - 40 questions (20

Marks), Professional Knowledge - 40

questions (40 Marks)

Officer Scale- III -

Total 200 Questions for 120 Minutes

Reasoning - 40 questions (50 Marks),

Quantitative Aptitude & Data

Interpretation - 40 questions (50 Marks),

Financial Awareness - 40 questions (40

Marks), English Language / Hindi

Language - 40 questions (40 Marks),

Computer Knowledge - 40 questions (20


Application Fee:

Officer (Scale I, II & III) - Rs. 100 for

SC/ST/PWD and Rs. 600 for all

others, Office Assistant (Multipurpose) -

Rs. 100 for SC/ST/PWD/EXSM and Rs.

600 for others. It is to be paid online at the

time of Online application.

How to Apply :

Interested candidates looking forward to

join any of these participating government

Owned rural banks must grab this opportunity and apply as soon as possible for this IBPS

RRB recruitment process phase V.

Online application shall be available between 14-09-2016 to 30-09-2016 (Both Dates

Included). Candidates should not wait for the last date and apply as the application window

gets started.

Candidates must apply carefully through provided online facility by correctly providing all

required info about them and upload scanned signature and photograph as and wherever


After online application, a print out of this online application is to be kept for future use only.

No need to send the application Print at this stage. Preserve the e-challan copy as well.

Test Name

Number of




Reasoning 40 50

Quantitative Aptitude (For Officer Scale-I) /

40 50

Numerical Ability (Office Assistants)

General Awareness 40 40

English Language / Hindi Language 40 40

Computer Knowledge 40 20

Activities Organized in Club




RBI Governor:

(Dr. Urjit Patel)

Quiz organizers


Jitesh (MBA-I)

Deepanshu (MBA-I)

Payal (MBA-I)

Kinjal (MBA-I)

Komal (MBA-I)

Ranvijay (MBA-I)

Rohit (MBA-I)

Parul (MBA-I)





Simranjeet Kaur

Komal Gulati

Harjinder Singh




Abhishek jain


(2 nd position)

Nancy Chawla





Jatin Pruthi




(3 rd position)

Himanshu Chawla






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