[akshra_fate]

voila.. sandeep u r a hot shot.. i guess then next year u take the Finance class for our juniors wen Shyamal graduates!!

[zephyr..]

feels great to read such posts..i cn actually imagine being thre...was a part of gbo 2006-2008 fr few days until i left fr mib... bt i miss all gbo friends..kinshuk, priyanka, megha, aashim.... n i must say they hv nice juniors.... n yeah..rustagi sir is awesome..he teaches at mib also so that i cn say fr sure... hope u guys hv rocking placements this yr... all the best

[rimcollian_2001]

@ zephyr : thnks juhi...for ur kind wrds for juniors of gbo...nywy.. yep rustagi sir is jst 2 gud!!

@ sandeep :boy...kp up da gud wrk...u rock!!

[akshra_fate]

Originally Posted by zephyr..

feels great to read such posts..i cn actually imagine being thre...was a part of gbo 2006-2008 fr few days until i left fr mib... bt i miss all gbo friends..kinshuk, priyanka, megha, aashim.... n i must say they hv nice juniors.... n yeah..rustagi sir is awesome..he teaches at mib also so that i cn say fr sure... hope u guys hv rocking placements this yr... all the best

Hey thanks a lot juhi for ur comments.... Although we havnt met u but we hav heard about u from our seniors... hope to meet u soon in your college fest (would lik to participate and visit the MIB fest)

Thanks again...

[akshra_fate]

Alright people...

Today was teacher's day n we thought of bringing a huge smile to our teacher's face...

Today we welcomed our teachers in class with a faboulous bouquet & a wonderful card {and of course a big round of applause!!! }

We are blessed with the best teachers in this country! a very hardworking & talented faculty .. today was indeed their day... In this fast paced life we do forget to take time out, pause & thank these wonderful people for their efforts and dedication.

A few words of love & appreciation for them:

"The dream begins with a teacher who believes in you, who tugs and pushes and leads you to the next plateau, sometimes poking you with a sharp stick called truth. "
Dan Rather

[Dileep Jain]

I had a talk with Dr. P C Jain and Dr. J L Gupta. I thanked them for all the learning they bestowed on us as a student. It was a great feeling.

I was not able to get the number of other teachers but ofcourse, at the core did thank them all for making us stand where we are today.

Folks, Finance has never been my strong hold but numbers is. I have immense interest in HR. Do let me know If I can be of any assistance.

[prachi.makker]

Hey Dileep...it seems that u r an ex-srite..! ...DId u do ur undergrad from there or r GBO student...!!

[akshra_fate]

Originally Posted by Dileep Jain

I had a talk with Dr. P C Jain and Dr. J L Gupta. I thanked them for all the learning they bestowed on us as a student. It was a great feeling.

I was not able to get the number of other teachers but ofcourse, at the core did thank them all for making us stand where we are today.

Folks, Finance has never been my strong hold but numbers is. I have immense interest in HR. Do let me know If I can be of any assistance.

Hi Dileep its a pleasure to find u here...

Thanks for posting in this forum... For people who don know Dileep, he is an alumnus of GBO and our super super senior!! Thanks again for ur inputs Dileep...We will definitely get back to u as even i have discovered a 'new found interest in HR.' Lookin forward to a gyan session from u..

[sandeep_kharb13]

Issue of capital account convertability and India

There is no formal definition given to Capital account convertibility(CAC)or FLOATING EXCHANGE RATE, but in case of India, the first Tarapore committee appointed in 1997 says on this

"Capital account convertibility (CAC) refers to the freedom to convert local financial assets into foreign financial assets and vice versa at market determined rates of exchange. It is associated with changes of ownership in foreign/domestic financial assets and liabilities and embodies the creation and liquidation of claims on, or by, the rest of the world."

It refers to the removal of restraints on international flows on a country's capital account, enabling full currency convertibility and opening of the financial system


India current status : India currently have CURRENT account convertibility-.Current account convertibility allows free inflows and outflows for all purposes other than for capital purposes such as investments and loans. In other words, it allows residents to make and receive trade-related payments — receive dollars (or any other foreign currency) for export of goods and services and pay dollars for import of goods and services, make sundry remittances, access foreign currency for travel, studies abroad, medical treatment and gifts etc. In India, current account convertibility was established with the acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement in August 1994.

Why capital account convertibility?
Capital account convertibility is considered to be one of the major features of a developed economy. It helps attract foreign investment. It offers foreign investors a lot of comfort as they can re-convert local currency into foreign currency anytime they want to and take their money away.
At the same time, capital account convertibility makes it easier for domestic companies to tap foreign markets. At the moment, India has current account convertibility. This means one can import and export goods or receive or make payments for services rendered. However, investments and borrowings are restricted.
But economists say that jumping into capital account convertibility game without considering the downside of the step could harm the economy. The East Asian economic crisis is cited as an example by those opposed to capital account convertibility.

Is it suitable for India for the application of CAC three condition must be satisfied
Ø Sound financial system
Ø Fiscal consolidation
Ø Low inflation

India have low inflation, but above two r lacking, but efforts r been made

How does capital a/c convertibility affect you?
As most of us know, resident Indians cannot move their money abroad freely. That is, one has to operate within the limits specified by the Reserve Bank of India and obtain permission from RBI for anything concerning foreign currency.
For example, the annual limit for the amount you are allowed to carry on a private visit abroad is $10,000: of which only $5,000 can be in cash. For business travel, the yearly limit is $25,000. Similarly, you can gift or donate up to $5,000 in a year.

The RBI limit raises the limit if you are going abroad for employment, or are emigrating to another country, or are going for studies abroad: the limit in both these cases is $100,000.

You are also allowed to invest into foreign stock markets up to the extent of $25,000 in a year.
For the average Indian, these 'limits' seem generous and might not affect him at all. But for heavy spenders and those with visions of buying a house abroad or a Van Gogh painting, it will mean a lot.

And how will it affect Non-Resident Indians?

Capital account convertibility may NRIs as it will help remove all shackles on movement of their funds.
Currently, NRIs have to produce a whole lot of documents and certificates if they want to buy a house in India (for which the lock-in period is 10 years, meaning they can't take their money back overseas if they sell the house after having owned it for less than 10 years), or send money to India from their overseas accounts

So if full capital account convertibility is allowed, what can you or I do that was not possible earlier?

A full convertibility means movement of funds in and out of India without any restrictions and `no questions asked' basis.
This would mean that anybody could walk into a bank and instruct to transfer money anywhere (exception will be restricted countries and/or region specified from time to time) and allow banks to receive funds from any entity from abroad for credit as per instructions of the remitter.
Going forward, it would also mean that a domestic individual can pay in foreign currency for purchases in India - rupee or US dollar or euro or yen will mean the same (hence, the ability to hold your cash in a currency which is strong)."


How many countries have full convertibility? In those countries, would it be possible for the rupee to be freely exchanged for other currencies or goods purchased through rupees?

All developed economies have full convertibility, including many South East Asian countries.
Since rupee is not fully convertible, it is of no value - whereas US dollar, pound sterling, euro, Singapore dollar, Malaysian ringitt, Yen etc are accepted.
A convertible currency is accepted in a non-convertible country (eg. US dollar, pound sterling etc are convertible in India) while non-convertible currency is not accepted in convertible country (eg rupee is of no value in US, Europe, Japan etc)."

[riti2007]

good work sandeep!!

well....loooong time no post....seems like exams r taking a toll on all of us...
meanwhile companies have also started coming in...so all of us are busy preparing 4 dat 2!! n yes, 6 of our seniors got placed 2day..
congrats guys...


rest later....time to meet my books..:(:neutral:
all da best...