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Bengaluru techie still missing, had gone to meet OLX buyer, say friends

Ajitabh Kumar, a 29-year-old software engineer, who has been missing since Monday is still untraceable. He had listed his car on online marketplace Olx and left home at Whitefield Area in Bengaluru around 6:30 pm. According to reports, his friends suspect he might have got a call from a prospective buyer. Ajitabh Kumar, who hails from Patna, worked at British Telecom. His phone is switched off since Monday and there is no trace of Ajitabh’s vehicle. The last location of his mobile phone was Gunjur near Whitefied, before it got switched off around 7: 10 pm. According to reports, Police team is investigating all angles after securing date from online classified portals as well. Ajitabh has been living with his childhood friend Ravi after moving to Bengaluru in 2010. He had passed Indian Institute of Management (IIM) in 2018 and now wanted to sell his car.Ajitabh had bought a Maruti Ciaz car by paying Rs 12 lakh and he had quoted Rs 11.8 lakh on OLX a couple of weeks ago. He had also applied for a loan with a private bank to join IIM, The New Indian Express reported Ajitabh’s brother Arnabh as saying. Ajitabh’s friends and relatives have launched an online campaign to find him.

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Rajya Sabha passes IIM Bill, granting more autonomy to institutes

The upper house of Parliament on Tuesday unanimously passed the Indian Institute of Management (IIM) Autonomy Bill, that seeks to give power to grant degrees instead of diplomas to these institutions.The Bill that gives more autonomy to IIMs, declares the 20 IIMs as institutes of national importance. Under this Bill the autonomy envisaged to IIMs is greater than that of other higher education institutions like the Indian Institutes of Technology (IITs).The Bill says, the Board of Governors will be the executive body of each IIM, comprising up to 19 members. It will also nominate 17 board members including eminent persons, faculty members and alumni. The remaining two members will be nominees from the central and state governments, respectively. The Board will also appoint its own Chairperson.During the discussion on the bill in Rajya Sabha, Samajwadi Party leader Naresh Agrawal supported the bill but questioned the lack of similar reforms in IITs and All India Council for Technical Education (AICTE). Congress leader Jairam Ramesh questioned how board of Directors will be appointed and asked the government to describe how they plan the transition between the current boards at IIMs and the Board of Governors as proposed in the new bill. He also asked what would be the criteria for appointment of these governors.As per the Bill, the Board of Governors will appoint the Director of each IIM. A search committee will recommend names for the post of the Director. The Director is eligible for variable pay, to be determined by the Board.The Academic Council of each IIM will determine the — academic content, criteria and process for admission to courses; and guidelines for the conduct of examinations.A coordination forum will be set up, which will include representation from the 20 IIMs. It will discuss matters of common interest to all IIMs.Currently, the central government has a role in the functioning of IIMs which includes the appointment of the Chairperson of their Boards, their Directors and pay to the Director.

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Economic implications of judgements now being considered: Justice A K Sikri

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Economic implications are now consciously considered by courts in India while delivering a judgement, Justice A K Sikri said on Saturday during a conference on law and economics at Indian Institute of Management — Ahmedabad (IIM-A).He said that while the concept is prevailing in Western countries, especially the US, for a couple of decades now, it is a nascent phenomenon in India.Sikri was addressing an audience during ‘Third International Conference on Law and Justice – 2017’ at IIM-A.He said that while earlier judgements in India had economic considerations at the back of the mind, they are finding a conscious mention now. “Economic implications are relevent in cases related to property, privacy, business law, banckruptcy petition and many others,” said Sikri.He emphasised the fact that law has implications across multiple disciplines and therefore it calls for an economic analysis of law. It can impact jobs, government revenue, economic growth. Sometimes, economic aspects are predominant. Courts are becoming increasingly receptive to this approach,” he said.Experts said apart from economics, other aspects related to law and judiciary also require debates. Prof Errol D’Souza, Director-In-Charge of IIM-A said debates are also necessary in aspects like a case being sub-judice. “Judges should be more open to criticism,” said D’Souza.EXPERT SPEAKAccording to experts, apart from economics, other aspects related to law and judiciary also require debates.
These include Freedom of Speech, the role of non-state actors in dictating what people should watch and what they should read, etc.

IIM-Ahmedabad debates new norm of social vigilantism and curb on public choices

<!– /11440465/Dna_Article_Middle_300x250_BTF –>The society needs to debate on impact of vigilantes dictating what people should read and watch, IIM-A Director-in-Charge, Prof Errol D’souza said in Ahmedabad on Saturday.The statement comes at a time when Bollywood film Padmawati is being opposed by a section of Kshatriya’s, who claim that their feelings are hurt by the contents of the film.Delivering his inaugural speech on the first day of the two-day International Conference On Law And Economics at IIM-Ahmedabad, D’Souza said that Non-State Actors are dictating what people should watch and read without a debate. This issue needs to be debated.D’Souza is also a member of Monetary Policy Committee of the Reserve Bank Of India (RBI), which also decides on the benchmark interest rates for lending money. He said politicians and industry players make statements on what the interest rates should be and this can influence the NPC. “When the impact is large, we have to come out with measures that are beneficial to the economy,” said D’Souza.He also said that while one can make efforts to influence interest rates, this is not visible in the field of law. “Judges are given so many rights. Their terms of appointment are such that they cannot be removed easily. So they should be more open to criticism. There needs to a debate on the concept of ‘sub-judice’. If there is a debate on ‘sub-judice’ cases, thee would be more ideas and progress,” he said.Justice AK Sikri of Supreme Court of India told media persons on the sidelines of the conference that the concept of ‘sub-judice’ is to ensure that judges are not influenced by information that is not relevant. “A judge has to decide on the information available with him,” he said.He also said that of late law is becoming more inter-disciplinary and aspects like economic implications are considered more consciously.

IIM Lucknow student commits suicide

<!– /11440465/Dna_Article_Middle_300x250_BTF –>In a shocking incident, a 25-year-old student of the prestigious Indian Institute of Management Lucknow (IIM-L) allegedly committed suicide by hanging himself from the ceiling fan of his hostel room on Wednesday.Madiyaon Police said that the student has been identified as Soham Mukherjee of Kolkata. An engineering graduate from Indian Institute of Technology (IIT) Guwahati, Soham Mukherjee was a second year student of the management course at IIM-L.”He was found hanging from the ceiling fan of his hostel room. Prima facie it looked like a suicide case since his room was bolted from inside. But no suicide note was found from his room. A case has been registered and investigation are on to ascertain reasons for his taking to such an extreme step,” said Madiyaon police.The police have seized his laptop and mobile phone to extract some information regarding his mysterious suicide. The body has been sent for the post mortem.His classmates claimed that he was suffer from depression due to some personal problems and was not attending classes since a last three days. He was also not taking calls from his batch-mates since then. He was not seen in the campus since November 12 and had just locked himself in the room since then. His hostel mates who peeped into the room spotted his body hanging from the ceiling.Mukherjee had joined IIM-L for management after working for a multi-national company for a few years. His family members have been informed in Kolkatta by the IIM-L management.The IIM-L management expressed grief over the suicide. “He was a consistently well performing student. We are shocked over the incident,” said an IIM-L press release.

Indian equity markets still lucrative in long term

<!– /11440465/Dna_Article_Middle_300x250_BTF –>Retail investors can put their money on Indian equity market for a long term, said Raamdeo Agrawal, Joint managing director of Motilal Oswal Financial.He advised regular investment instead of lumpsum ones for value creation over a longer term for household investors and said that mutual fund investments are likely to grow 10 times in about eight years.Talking to the media at the Stock Pitch Contest for students of B-Schools organised by Motilal Oswal at Indian Institute of Management – Ahmedabad on Monday, Agrawal agreed that Indian stocks are priced high but despite that, it is prudent to invest in equity products.He, however, had two suggestions. One was letting experts make investment decisions on behalf of the individuals and the other was regular investments in the form of monthly Systemetic Investment Plan (SIP) rather than making lumpsum investments.”Those who are making lumpsum investments may be at risk because the stock market can move in any direction in a short term. It is advisable to invest through SIPs,” he said adding that more and more people were investing through mutual funds rathering than picking the stock by themselves.Agrawal hoped that investment through mutual funds will grow multiple times in the future as still most of household savings were parked in form of fixed deposits rather than through mutual funds.”Investment through mutual funds is about Rs7 lakh crore while bank deposits are much more. Investments through mutual funds are likely to become 10 times by 2025,” said Agrawal.Motilal Oswal had organined the Stock Pitching Contest where close to 450 teams had particiapted, from which 13 finalists had competed at IIM-A.The idea of the contest was to inculcate a thought in B-School grads that equity sector provides promising opportunities for career as well. “While people look at IT and FMCG companies for careers, equity is neglected inspite of the fact that it has grown manifold and is poised for growth as well,” said Agrawal.A team from ISB-Mohali won the contest, while a team from IIM-Rohtak was first runners up and one from IIM-Banglore was second runners up.SUGGESTIONSLet experts make investment decisions on behalf of the individuals.
Regular investments in the form of monthly Systemetic Investment Plan (SIP) rather than making lumpsum investments for value creation over a longer term.

NIT Rourkela team wins NTPC Electron Quiz 2017 held at Patna

<!– /11440465/Dna_Article_Middle_300x250_BTF –>NIT Rourkela team has won the NTPC ‘Electron Quiz 2017’, a regional level competition organised for NTPC Eastern Region-I, Patna. NIT Rourkela representatives Nishant Nihar and Abhishek Patra won first prize at the NTPC Electron Quiz 2017 held at Chandragupta Institute of Management Patna (CIMP) campus yesterday, a NTPC release said. Ravi Kumar Gupta and Nikhil Gaekwad of IIM Ranchi and Shalini & Roushan Kumar of CIMP stood second and third respectively, Chandan said. NTPC Regional Executive Director (East-1) K S Garbyal presented awards worth of Rs 30,000, Rs 20,000 and Rs 10,000 respectively to the top three winners, the release said. Top six teams- one each team from NIT Rourkela, IIM Ranchi, IIT Patna and three teams of CIMP- participated in the quiz event after qualifying the written round. A total of 52 teams from various engineering and management colleges across Bihar, Jharkhand and Odisha took part in the quiz competition and top three teams from the competition would take part in the national final to be held at NTPC Business School, Noida on August 19.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Want to remove government interference at IIMs: Minister

<!– /11440465/Dna_Article_Middle_300x250_BTF –>HRD Minister Prakash Javadekar today received rare praise from the Opposition in the Lok Sabha for bringing a bill which seeks to usher in functional autonomy in the Indian Institutes of Management (IIMs) by restricting the government role. The Indian Institutes of Management Bill, 2017, provides for giving statutory powers to these institutions in their running including appointment of directors, faculty members, and gives them powers to award degrees instead of post graduate diplomas. The bill also has provisions for appointment of members of the board of governors (BoG) in each of the 20 IIMs through a transparent process, while limiting even the HRD Minister’s role. The bill also seeks to declare the IIMs as institutes of national importance and abolish the post of visitor. Currently, the President is the ‘visitor’ of the IIMs. Moving the bill for consideration and passage, Javadekar said the aim of the bill is to remove the government’s interference in IIMs. He said the proposed legislation will usher in a new era of freedom in the IIMs and these institutes will not require to come to the government for various permissions and clearances. “It is a historical bill which will bring a new era in management education in the country,” he said, noting that financial transaction will be subject to CAG evaluation as the institutes run on tax payers’ money. He said it was not an ideal situation to run the IIMs from Delhi, noting the move is aimed at allowing autonomy to institutes which have created an eco-system for excellence in higher education. The government will have only one representative in each BoG so that the institutes can take decisions independently, the minister said. Participating in the debate on the bill, Congress leader Shashi Tharoor said it was a “remarkable moment when a minister surrenders (his) powers”. He said other ministers in the government should draw inspiration from Javadekar in doing so. At the same time, the former minister criticised the government for not enhancing financial assistance to IITs and IIMs, saying they are reeling under funds crunch. He suggested the government should have some say in determining fee structure in the IIMs as higher fees may badly hit students from the poor families. He also pitched for clarity in having reservation in recruitment of faculty staff from SC and ST community. Tharoor also slammed the government for removing the name of Rajiv Gandhi from the name of the Shillong IIM, saying it is “petty” of the government to stoop to such level. Trinamool Congress leader Sougata Roy also praised the government for bringing the bill, saying it will further improve the functioning of the IIMs. He said the fees in the IIMs were very high and urged the government to see that this does not deter the deserving students from admission. M B Rajesh (CPI-M) also raised the issue of high fees in IIMs, saying the autonomous status should not lead to money- making by these institutions. He sought to know from the government why it had appointed directors on the Boards of 10 IIMs on February 10, 2017, just a day after the IIM Bill was tabled in Parliament. Nagendra Kumar Pradhan (BJD) said the IIMs charge fees between Rs 9 lakh and Rs 20 lakh and because of the limited number of seats these institutes have, students have to opt for private MBA institutes. Pradhan sought to know from the government if it was aware of the fate of the students who pass out from the 5,500 private business schools and get paid a salary of as low as Rs 10,000 per month and are unable to repay the education loan. Arvind Sawant (Shiv Sena) also appreciated Javadekar’s move to grant the status of autonomous institution to the IIMs. He sought the minister’s attention towards private institutions demanding money from students at the time of admission. B Ravindra Babu (TDP) too appreciated the HRD minister, saying the MPs in the House feel he is a “dynamic minister” and has been very liberal towards giving institutes of national importance to the bifurcated Andhra Pradesh. BJP’s Poonam Mahajan, praising the government, said effort must always be to ensure that the “wings of aspirations of the youth are not cut”. “Aspirations of the youth are country’s hope. If the youth aspire, then only can we hope for a better tomorrow. It is a freedom movement for the IIMs. It is about freedom to think and pursue the goals by the youths,” she said. K Hari Babu (BJP) too praised Javadekar, saying everyone wants “power to be in their pocket” but the HRD minister has given up the position of being the chairperson on IIM Boards.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

IIM-A Director Ashish Nanda resigns

<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Indian Institute of Management, Ahmedabad (IIM-A) director Ashish Nanda on Thursday stepped down from his position, one year ahead of his tenure. Nanda, who was the first professor from a foreign school to head an IIM, cited personal reasons for his resignation. While the real reason is not known, his resignation has some as a surprise in the academic circle. It is so far unclear whether he resigned because of any differences with the HRD ministry.He is a former professor from Harvard Law School. He was appointed for a period of five years, and when he relinquishes office on September 1, 2017, he will be complete four years of his tenure.In his resignation letter and a subsequent mail to the IIM-A fraternity, Nanda said he enjoyed his association with IIM Ahmedabad but he needs to give more time to his family.“Professionally I have enjoyed the experience immensely and learned a lot. However personally, living long distance from my wife and son has been a challenge. When I joined, I had committed to serving at most one term. On September 1, it will be four years to the day since I took charge…I will hand over responsibilities of director at the end of that day,”IIM-A chairman Kumar Mangalam Birla has accepted his resignation.

IIM-K students launch mobile app to crowdsource action on social issues

<!– /11440465/Dna_Article_Middle_300x250_BTF –>IIM Kozhikode (IIMK) students recently launched an android mobile app, Makeourkerala, an initiative towards a cleaner, greener and safer Kerala. The app’s vision is to enable any individual around Kerala to expose issues around their locality and create actionable directives to mobilise additional support from public at large.The app lets users tag their location and post social issues or activities nearby. Users can also share their sentiments, follow an event and track any social issue from the application. Individuals, government bodies and NGOs can create an invite for a social event with activity details, location and date to seek public participation. The app brings together like-minded people towards a common goal, i.e. Making Kerala Better.The initiative will focus on major issues, for example, issue of stray dog attacks in Kerala. There is an upward trend in the number of attacks in the state. This app will have dedicated flow of data, reports and support for issues through its application. The app will use the power of people collaboration and strive to address such issues with its various features like pledge support, awareness etc.“Through this app, we hope to achieve a strong platform where people come together for common goals that they have pledged to support. Our vision is to empower the people with the right data and tools to ensure accountability.” says Prof Sidhartha S Padhi, Assistant Professor, IIM-K.The app will closely follow a Wikipedia-based admin model that ensures crowdsourced accountability model which is answerable to the public. All posts will be approved by admins selected by the users themselves. There will be periodic renewal of admins to ensure that the process is as democratic as possible. The founding team met with leading NGO’s, Administrative officers and political leaders to better structure and streamline the app process.

Salary package rises by 22 per cent at IIM Indore, Rs 39 lakh highest package offered

<!– /11440465/Dna_Article_Middle_300x250_BTF –>The top salary package offered rose by as much as 22 per cent at the campus recruitment of Indian Institute of Management (IIM) Indore this year. The highest annual package offered was Rs 39 lakh, against Rs 32 lakh last year, spokesperson of the prestigious management school said here. The institute however did not reveal the name of the student and the company which offered the package.The average salary offered this year was Rs 16.23 lakh per annum. More than 200 business organisations including MNCs participated in the campus placement. Of these, 74 companies participated in the placement at IIM-I for the first time.The highest — 28 per cent — job offers came from strategy and consulting sector, while 27 per cent of offers came from the financial sector firms. As many as 611 students took part in the placement process. Of these, 449 belonged to the Post Graduate Programme (PGP), 100 were from Integrated Programme in Management (IPM) and 62 were from IIM-I’s Mumbai campus.

Rajiv Gandhi’s name in IIM Shillong dropped from original IIM Bill

<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Indian Institute of Management (IIM) Bill 2017 has dropped the name of Rajiv Gandhi from IIM Shillong’s name. While the original draft of the bill that was proposed in the year 2014 had the name of the former Prime Minister, it has been dropped in the draft that has been approved by the Cabinet recently and introduced in Lok Sabha recently.This is the first instance of the former PM’s name being dropped from a leading education institution.The IIM Bill, 2017 that seeks to give greater autonomy and power to grant degrees to these institutions has been approved by the Cabinet. The bill seeks to change the name of Rajiv Gandhi Indian Institute of Management to Indian Institute of Management.The IIM Bill, introduced in the Lok Sabha last Thursday, mentions that the name of the existing IIM in Shillong, registered under the Societies Registration Act, 1860 will change. The “name of the institute incorporated under this Act” will be “Indian Institute of Management Shillong”, says the bill.Sources in the ministry said that changes in the 2014 draft of the bill were incorporated after instructions from Prime Minister’s Office.The change has irked members of Congress, who are calling it “petty and cheap”.”It betrays their lack of respect for people who have led the country and have given life for the country. I strongly condemn this action,” says Rajyasabha member Rajiv Gowda.”If you look at the initiatives that they have taken, it only includes renaming the initiatives that we had taken. There are very few things that they have come up in their tenure,” he adds.The bill also seeks to change the name of IIM Calcutta to IIM Kolkata, including the new name of the city in the institution’s name.

Era of Demonetization? IIM-Lucknow achieves 100% placement in 3 days

<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Indian Institute of Management-Lucknow (IIM-L) today said it has achieved 100 per cent final placement for its 31st batch of 435 students in a record time of just over three days. “IIM-Lucknow achieved 100 per cent final placements for its 31st batch of 435 students in just over three days, an official said here. The recruitment drive witnessed participation from over 170 domestic and international recruiters. “The highlight of the placement season was the participation of esteemed firms like EMAAR, McKinsey and Company, o3 Capital and The Boston Consulting Group which marked the ascent of IIM-L as a preferred recruitment destination for marketing, finance and consulting roles in the country,” the official said. The top four segments based on roles offered were sales and marketing, finance, consulting and business development including some extremely sought after and niche profiles in the finance domain. The rest of the offers came from domains such as operations/supply chain, general management, systems/IT, market research, analytics and HR. Some of the top recruiters across different sectors were Accenture, Aditya Birla Group, Amazon, Avendus, Goldman Sachs, Hindustan Unilever, McKinsey & Company, TAS and The Boston Consulting Group. The first time recruiters included Clinton Health Access Initiative, EMAAR and Societe Generale while international profiles were offered by Capgemini, EMAAR, M.H. Alshaya, UAE Exchange and Olam International. Banking, financial services and insurance (BFSI) sector, Consulting and General Management sector firms were also there to pick students.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

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