ankur54321 Saysbut already eco is not doing good...iot will affet the placement report of collge
FYI , The intake was increased from 120 to 240 2 years ago.
FYI , The intake was increased from 120 to 240 2 years ago.
When can we expect the final merit list for GIM?
I gave my gdpi today at Delhi. All in all it went good. Gd turned into a fish market at times but i guess thats bound to happen if there r more than 10 in a group.
topic : "Should right to reject option be given to voters in India"
PI was shorter as per the standards. roughly 15 mins. I was able to convince the panel on most of their queries. Atleast I would like to think so 
Seniors, I am a bit anxious bout my XAT score. Jus managed to score more than the cut off. Were there ppl in ur batch who converted the call even at low scores? Please give ur viewpoints on the conversion chances of low scorers?
Hey Friends, the below given links might useful for you in GD & PI :-
Current GD topics with answers for CAT group discussion
Group Discussion Topics with Answers
HR Interview Questions and Answers
INTERVIEWS
Current GD topics with answers for CAT group discussion
Group Discussion Topics with Answers
HR Interview Questions and Answers
INTERVIEWS
AkshayTyagi2011 SaysWhen can we expect the final merit list for GIM?I gave my gdpi today at Delhi. All in all it went good. Gd turned into a fish market at ti............. anxious bout my XAT score. Jus managed to score more than the cut off. Were there ppl in ur batch who converted the call even at low scores? Please give ur viewpoints on the conversion chances of low scorers?
1. Final merit list is expected by 1st week of April. CMAT process may delay the process though.
2. The duration of PI doesn't decide anything. So nothing to worry.
3. XAT despite of having a 50% weightage doesn't matter much. We have many 77-80 %iler in our batch. I was myself a 77%iler last year with 9%ile in VA. So that should help you and others who are on borderline.
When can we expect the final merit list for GIM?
I gave my gdpi today at Delhi. All in all it went good. Gd turned into a fish market at times but i guess thats bound to happen if there r more than 10 in a group.
topic : "Should right to reject option be given to voters in India"
PI was shorter as per the standards. roughly 15 mins. I was able to convince the panel on most of their queries. Atleast I would like to think so
Seniors, I am a bit anxious bout my XAT score. Jus managed to score more than the cut off. Were there ppl in ur batch who converted the call even at low scores? Please give ur viewpoints on the conversion chances of low scorers?
hey how was the process can you describe in detail .. thanks in advance.. would like to know whether they asked questions from the details given by us during application ? and what did they concentrate on for work-ex people ? they asked questions related to work-ex?
fortuner Sayshey how was the process can you describe in detail .. thanks in advance.. would like to know whether they asked questions from the details given by us during application ? and what did they concentrate on for work-ex people ? they asked questions related to work-ex?
Go through the GD/PI Experience thread : http://www.pagalguy.com/discussions/2012-2014-goa-institute-of-management-gim-gd-pi-experiences-25078908
A few of us like me,Avinash,Dikshant and Ishmeet had this rare opportunity to sit with the panels for interviews in Goa panel. We were just observing the candidates. Certain things we observed and would like to give few suggestions :
1. Since this is the 1st time I was sitting for an interview which was not mine I might be a bit critical. Pardon me on that.
2. Candidates should show a lot of enthusiasm while answering. Dont be aggressive but you have to show that you are really interested and want to get to GIM. Otherwise it will be very difficult to convert. Never ever bore the panelists. At times even I got bored.
3. Please please please prepare for counter questions. Once you make a statement, you will have to justify it or substantiate it.
4. DONT bullshit. I saw a candidate being caught right in front of my eyes bullshitting. Its not bad not to have a lot of extra curriculars. But its a sin to make up stuff. You will get caught and get royally screwed.
5. The time of interview doesn't matter. In fact some of the best of the interviews finished in 5-10 mins. Only quality matters.
6. Please prepare 'Why MBA' and 'Why GIM'. Its an unpardonable sin to attend an interview without preparing these two basic questions.
7. Try to make the GD decent. Fish markets are only good for fishes not for GDs. Don't dominate. Even with a good PI, a person trying to dominate a GD gets kicked out. 3-4 decent entries is all you need. But make sure you have different points everytime you enter. Please allow others to talk and please listen.
8. SMILE. It doesn't hurt at all. Trust me.
9. Get rid of pathetic habits like fidgeting with the pen or dancing your legs(i actually felt like telling a candidate to stop) or swinging to and fro or leaning back against your chair. Have a straight stance. You are observed from the moment you enter to the moment you leave. Opening and closing the door, greeting the profs, taking permission to sit(mostly they will tell you right away to sit however), and a firm handshake(only if the profs offer) - all of these do make a difference.
10. Please bring your own pen.
11. Most of the profs give you an opportunity to drive the interview towards the area you are strong in(tell me about yourself being the best opportunity). Please grab it with both hands.
12. You don't have to be the best in the field. But you need to show the commitment and the conviction to achieve your goals and add value to GIM.
13. Maintain eye contact with both profs. And also maintain proper eye contact during GD/PI.
14. Please please please please dress formally.
15. Most importantly please DONT BE LATE.
since when is gim there
Yes.
GIM was founded in 1993 when Padma Shri Fr. Romuald D'Souza(ex Director XLRI and XIMB) moved from XIM, Bhubaneswar to create a center of learning and excellence in Goa. So it is a kind of sister institute of XLRI family.
Since many of you are on the same boat as I was a year back, let me cut you a real deal....
Following article gives an insight on important financial terms and issues like US debt crisis and Greece crisis along with important terms like Repo and reverse repo... Go through it and I am sure you will find lots to talk about in the interview....
This article is particularly aimed at people with non-finance background so its an easy read....
US debt Deal
The US government reached the $14.3 trillion borrowing limit on May 16. Since then, the treasury department has been tapping other sources to pay for committed expenses. It needs to borrow more.
The minimum Additional borrowing required to enable the government to function smoothly till next Presidential elections are $2 trillion.
Why were Republicans and Democrats at loggerheads?
Republicans wanted Obama administration to cut its spending by $1 for every $1 increase in debt ceiling. Cut in spending would hurt the Democrat governments cherished programmes like education, labour and health. Obama wanted to increase taxes on wealthy instead. But, Republicans believed that it might hurt the economy further and depress job creation, when unemployment is at 9.2%.
Why must spending be cut?
If spending continues at current rate, it will add $7 trillion to the federal debt as the Congressional Budget office expects spendings to rise to $46.1 trillion over the next 10 years.
US Parliament passes debt bill on August 1
The House of Representatives on 1st August 2011 approved a last-gasp deal to raise the US borrowing limit in a decisive step toward averting a catastrophic debt default by the world's largest economy.
A day before the deadline to lift the debt ceiling, the passage by the Republican-controlled House of the $2.1 trillion deficit-cutting plan hammered out over the weekend cleared the way for the Senate to approve it.
Mohamed El-Erian, co-chief investment officer of PIMCO, which runs the world's largest bond fund, said attention would now focus on a possible US downgrade "and all the detrimental effects of weeks of political squabbles on household and corporate confidence, economic governance, growth, employment, inequality and America's standing in the global economy."
The compromise plan calls for spending cuts over 10 years but no new taxes, creates a powerful new congressional committee to recommend a deficit-reduction package by late November and raises the US borrowing limit into 2013.
The political dysfunction in Washington has also dented America's stature as the world's capitalist superpower.
Russian Prime Minister Vladimir Putin, a frequent US critic, accused America of living beyond its means "like a parasite" on the global economy and said dollar dominance was a threat to the financial markets.
It was hard to identify winners in the bitter fight that led up to the House vote on Monday.
Obama had to accept deeper spending cuts than he wanted and will have to defend them to his liberal base during his campaign for re-election in 2012, but he could win points with moderates and independents he needs to win a second term.
Boehner got cuts he demanded without immediate tax increases, but had to fight some criticism of being inflexible and a captive of his party's Tea Party wing.
Future battle over taxes
The deal approved by the House calls for a 12-member special congressional panel to locate $1.5 trillion in budget savings by late November.
The deal does not specifically spell out where the spending cuts should be made and instead puts off decisions about which programs will bear the brunt in the coming months and years.
RBI raises interest rates
Reserve Bank of India on 27th July raised the repo rate by 50 basis points, instead of the expected 25 basis points, to 8%. The reverse repo was raised by the same amount to 7%. The penal rate on lending to banks under the Marginal Standing Facility is up at 9%. Inflation forecast has been raised to 7% with an upward bias and non-food loan growth forecast lowered to 18% from 19%.
While the development has attracted great amount of discussion, the reactions are majorly mixed. Banks have warned the RBI against increase in defaults due to repeated interest rate hikes. Corporate Industry has lashed out against the hikes saying this move will hit the growth badly. Though, the news has received severe criticism from India Inc., it needs to be understood if the concerns are exaggerated and fuelled by tendency to protect their own short-term interests, rather than internalizing what is ultimately the best for the economy as a whole.
The decision is being criticised as hawkish and conservative by industry. However, it is important to understand that bringing inflation under control is critical to sustaining growth. A soft stance now will only accelerate the upward drift in inflation expectations and give rise to risk of even more difficult to control inflation dynamics. It is important to recognise the need for a short term slowdown and a check on Inflation in order to prevent a growth destructive scenario in the long run. Hence, many experts have come out strongly in support of the measure opining that it is high time some stringent action be taken to curb Inflation.
Though the growth story that India Inc. boasts of is commendable, majority of real India is poverty stricken. Inflation hits the poor under the belt and it is unfair if they have to pay the cost for Indias growth story.
The debate of Growth vs. Inflation seems to be a never ending one. It appears highly unlikely to sustain high growth and eliminate Inflation simultaneously. There will, most definitely, be a trade-off between the two. The need of the hour is to prioritize. As RBI deputy governor Subir Gokarn says We are not talking about completely stopping growth in exchange of controlling inflation. We are trying to manage growth around a non-inflationary trend, which is around 8%. Looking at the big picture, small amount of growth for a short time does not seem to be a major price to pay.
By taking this action RBI has not only signalled that keeping Inflation under check is high priority, it has also given out a stern message to the Government that the absence of appropriate steps by the government has put a question mark on sustaining growth without strong inflationary pressures. To combat inflation, RBI cannot be the lone warrior; the government will have to pitch in.
Greece Debt Crisis
Timeline of a crisis: how Greece's tragedy unfolded
Here is a timeline of the key events during the country's ten years as a euro member.
January 2001: A new year, a new dawn. Greece drops its currency, the drachma, to join the euro, becoming its 12th member.
Some analysts fear the single currency could suffer from the inclusion of weaker nations. Then ECB President Win Duisenberg says Greece should continue efforts to improve its economy.
November 2004: Greece effectively admits it lied to get into the euro. The government admits its deficit has not been below 3pc since 1999, as EU rules require.
March 2005: The cost of hosting the 2004 Olympics takes its toll. Greeces new government attempts to impose an austerity budget to try to slash the countrys deficit and get public finances back on track.
Spring 2006: The measures seem to work. GDP is up 4.1pc.
November 5, 2009: Any economic bounce is short lived. The global financial crisis takes hold and Greeces national debt rises to 262bn from 168bn in 2004. Prime Minister George Papandreous new socialist government says Greeces 2009 budget deficit will be 12.7pc of GDP, more than double the previously published figure.
December 2009: Fitch, the ratings agency, cuts Greek debt to BBB+, from A-, the first time in a decade the country is rated below investment grade.
January 2010: Greece unveils a stability programme that will see the country aim to cut its deficit to 2.8pc of GDP by 2012.
March 2010: Greeks told to accept lower bonuses and higher taxes or risk the country falling into bankruptcy.
April 11, 2010: Eurozone finance ministers approve a 30bn aid package for Greece, which Athens refuses to activate. A few days later, the government admits it may need help from the IMF, pushing its bailout towards 45bn.
April 23, 2010: Greece officially requests a bailout.
April 27, 2010: S&Ps; downgrade of Greece to BB+ relegates it to junk status. Stock markets plunge, the FTSE 100 index sheds 2.6pc.
May 2, 2010: After days of frantic talks, the IMF and EU agree to a 110bn rescue package over three years. The agreement is followed by a 48 hour strike, with three people killed after a bank is set on fire.
May 10, 2010: Global policymakers install an emergency financial safety net worth 750bn to bolster financial markets and shore up the euro against contagion from the Greek crisis.
May 18, 2010: Greece receives a 14.5bn loan from the EU and can now repay its immediate debt.
July 7, 2010: Parliament passes pension reform, a key requirement of the EU/IMF deal, cutting benefits, curbing widespread early retirement and raising thr women's retirement age from 60 to 65.
January 2011: Fitch becomes the third rating agency to cut Greek debt to "junk" status after S&P; and Moody's.
May 2, 2011: Finance Minister George Papaconstantinou again rules out a debt restructuring, adding that he has just "expressed the hope" that the EU and IMF will agree to extend bailout loan repayments.
May 21, 2011: Mr Papandreou and senior ECB officials say Greece must avoid debt restructuring and push on with budget cuts and privatisations to overcome its debt crisis.
May 23, 2011: Greece unveils a series of privatisations, part of a goal to raise 50bn by 2015 to pay down its debt mountain.
June 1, 2011: Greece criticises Moody's decision to cut its credit rating to Caa1, bringing it seven notches into junk territory, saying the move did not take into account the country's efforts to tidy up the country's finances.
June 4, 2011: Greece hit by further protests in central Athens, as Mr Papandreou agrees to make significant cuts in public-sector employment.
June 9, 2011: In an open letter to European and international authorities, German finance minister Wolfgang Schuble say: "Any additional financial support for Greece has to involve a fair burden sharing between taxpayers and private investors."
June 11, 2011: Jean-Claude Juncker, head of the eurozone finance ministers, backs Germany's proposal for a "soft restructuring" of Greece's debt, but said any contribution from private sector creditors should be "voluntary".
June 15, 2011: Speculation and fear from both markets and the Greek population turns violent.
Saving the Common Currency
What Was Decided at the Euro-Zone Crisis Summit?
Resolutions passed at last Thursday's emergency summit in Brussels prove that euro-zone leaders are ready to take major steps to contain the debt crisis.
At the July 21 emergency summit on the euro crisis, European leaders passed resolutions which will have a lasting impact on how euro-zone countries deal with indebted countries. SPIEGEL ONLINE presents an overview of the deal reached.
Last Thursday, euro-zone leaders met in Brussels for an emergency summit on the euro crisis, where they agreed on a second bailout for Greece. SPIEGEL ONLINE has prepared an overview of the resolutions reached:
Lower Interest Rates and Extended Maturities
Greece will receive additional loans through mid-2014 in the amount of 109 billion ($157 billion). This official funding from the International Monetary Fund (IMF) and the European Financial Stability Facility (EFSF) will be divided into two parts. Some 54 billion will go directly to the Greek government, while the remaining 55 billion will serve to guarantee the voluntary participation of private-sector investors.
Interest rates on the loans to Greece will be lowered from 4.5 percent to approximately 3.5 percent. Maturities of future EFSF loans -- which are the intended vehicle for the next disbursement of loans for Greece -- will be extended from 7.5 to at least 15 years. These changes in interest rates and maturities will also apply to Ireland and Portugal, which have also been bailed out by the EU and IMF.
Voluntary Contribution from the Private Sector
Banks and private investors are expected to take part in the bailout on a voluntary basis. Creditors can exchange Greek bonds for new securities with longer maturities. They can accept a discount by purchasing the new securities at 80 percent of their par value (their stated value), or they can accept future lower interest rates. The euro rescue fund will provide collateral for the new securities. Alternately, old bonds can be sold to the EFSF at a discounted rate.
The private sector is expected to contribute some 50 billion in total through mid-2014. Of this, 37 billion will likely come from bond swaps while 12.6 billion is anticipated to come from bond buybacks.
The involvement by private-sector creditors is an initiative uniquely planned to help Greece, and will not apply to Ireland or Portugal.
Increased Security against Future Crises
The EFSF and the European Stability Mechanism which will replace it from 2013 will have the option of buying up debt issued by crisis-hit countries from private creditors. Previously only the European Central Bank has played this role.
Precautionary lines of credit will be set up for euro-zone countries, which they can turn to in instances of need. Additionally, a country's banking sector will be supported through credit lines to the affected government.
Support for Growth and Investment in Greece
A development plan is intended to help make the ailing economy competitive again.
Regards,
Dev Raj Singh
PGP1
Goa Institute of Management
Following article gives an insight on important financial terms and issues like US debt crisis and Greece crisis along with important terms like Repo and reverse repo... Go through it and I am sure you will find lots to talk about in the interview....
This article is particularly aimed at people with non-finance background so its an easy read....
US debt Deal
The US government reached the $14.3 trillion borrowing limit on May 16. Since then, the treasury department has been tapping other sources to pay for committed expenses. It needs to borrow more.
The minimum Additional borrowing required to enable the government to function smoothly till next Presidential elections are $2 trillion.
Why were Republicans and Democrats at loggerheads?
Republicans wanted Obama administration to cut its spending by $1 for every $1 increase in debt ceiling. Cut in spending would hurt the Democrat governments cherished programmes like education, labour and health. Obama wanted to increase taxes on wealthy instead. But, Republicans believed that it might hurt the economy further and depress job creation, when unemployment is at 9.2%.
Why must spending be cut?
If spending continues at current rate, it will add $7 trillion to the federal debt as the Congressional Budget office expects spendings to rise to $46.1 trillion over the next 10 years.
US Parliament passes debt bill on August 1
The House of Representatives on 1st August 2011 approved a last-gasp deal to raise the US borrowing limit in a decisive step toward averting a catastrophic debt default by the world's largest economy.
A day before the deadline to lift the debt ceiling, the passage by the Republican-controlled House of the $2.1 trillion deficit-cutting plan hammered out over the weekend cleared the way for the Senate to approve it.
Mohamed El-Erian, co-chief investment officer of PIMCO, which runs the world's largest bond fund, said attention would now focus on a possible US downgrade "and all the detrimental effects of weeks of political squabbles on household and corporate confidence, economic governance, growth, employment, inequality and America's standing in the global economy."
The compromise plan calls for spending cuts over 10 years but no new taxes, creates a powerful new congressional committee to recommend a deficit-reduction package by late November and raises the US borrowing limit into 2013.
The political dysfunction in Washington has also dented America's stature as the world's capitalist superpower.
Russian Prime Minister Vladimir Putin, a frequent US critic, accused America of living beyond its means "like a parasite" on the global economy and said dollar dominance was a threat to the financial markets.
It was hard to identify winners in the bitter fight that led up to the House vote on Monday.
Obama had to accept deeper spending cuts than he wanted and will have to defend them to his liberal base during his campaign for re-election in 2012, but he could win points with moderates and independents he needs to win a second term.
Boehner got cuts he demanded without immediate tax increases, but had to fight some criticism of being inflexible and a captive of his party's Tea Party wing.
Future battle over taxes
The deal approved by the House calls for a 12-member special congressional panel to locate $1.5 trillion in budget savings by late November.
The deal does not specifically spell out where the spending cuts should be made and instead puts off decisions about which programs will bear the brunt in the coming months and years.
RBI raises interest rates
Reserve Bank of India on 27th July raised the repo rate by 50 basis points, instead of the expected 25 basis points, to 8%. The reverse repo was raised by the same amount to 7%. The penal rate on lending to banks under the Marginal Standing Facility is up at 9%. Inflation forecast has been raised to 7% with an upward bias and non-food loan growth forecast lowered to 18% from 19%.
While the development has attracted great amount of discussion, the reactions are majorly mixed. Banks have warned the RBI against increase in defaults due to repeated interest rate hikes. Corporate Industry has lashed out against the hikes saying this move will hit the growth badly. Though, the news has received severe criticism from India Inc., it needs to be understood if the concerns are exaggerated and fuelled by tendency to protect their own short-term interests, rather than internalizing what is ultimately the best for the economy as a whole.
The decision is being criticised as hawkish and conservative by industry. However, it is important to understand that bringing inflation under control is critical to sustaining growth. A soft stance now will only accelerate the upward drift in inflation expectations and give rise to risk of even more difficult to control inflation dynamics. It is important to recognise the need for a short term slowdown and a check on Inflation in order to prevent a growth destructive scenario in the long run. Hence, many experts have come out strongly in support of the measure opining that it is high time some stringent action be taken to curb Inflation.
Though the growth story that India Inc. boasts of is commendable, majority of real India is poverty stricken. Inflation hits the poor under the belt and it is unfair if they have to pay the cost for Indias growth story.
The debate of Growth vs. Inflation seems to be a never ending one. It appears highly unlikely to sustain high growth and eliminate Inflation simultaneously. There will, most definitely, be a trade-off between the two. The need of the hour is to prioritize. As RBI deputy governor Subir Gokarn says We are not talking about completely stopping growth in exchange of controlling inflation. We are trying to manage growth around a non-inflationary trend, which is around 8%. Looking at the big picture, small amount of growth for a short time does not seem to be a major price to pay.
By taking this action RBI has not only signalled that keeping Inflation under check is high priority, it has also given out a stern message to the Government that the absence of appropriate steps by the government has put a question mark on sustaining growth without strong inflationary pressures. To combat inflation, RBI cannot be the lone warrior; the government will have to pitch in.
Greece Debt Crisis
Timeline of a crisis: how Greece's tragedy unfolded
Here is a timeline of the key events during the country's ten years as a euro member.
January 2001: A new year, a new dawn. Greece drops its currency, the drachma, to join the euro, becoming its 12th member.
Some analysts fear the single currency could suffer from the inclusion of weaker nations. Then ECB President Win Duisenberg says Greece should continue efforts to improve its economy.
November 2004: Greece effectively admits it lied to get into the euro. The government admits its deficit has not been below 3pc since 1999, as EU rules require.
March 2005: The cost of hosting the 2004 Olympics takes its toll. Greeces new government attempts to impose an austerity budget to try to slash the countrys deficit and get public finances back on track.
Spring 2006: The measures seem to work. GDP is up 4.1pc.
November 5, 2009: Any economic bounce is short lived. The global financial crisis takes hold and Greeces national debt rises to 262bn from 168bn in 2004. Prime Minister George Papandreous new socialist government says Greeces 2009 budget deficit will be 12.7pc of GDP, more than double the previously published figure.
December 2009: Fitch, the ratings agency, cuts Greek debt to BBB+, from A-, the first time in a decade the country is rated below investment grade.
January 2010: Greece unveils a stability programme that will see the country aim to cut its deficit to 2.8pc of GDP by 2012.
March 2010: Greeks told to accept lower bonuses and higher taxes or risk the country falling into bankruptcy.
April 11, 2010: Eurozone finance ministers approve a 30bn aid package for Greece, which Athens refuses to activate. A few days later, the government admits it may need help from the IMF, pushing its bailout towards 45bn.
April 23, 2010: Greece officially requests a bailout.
April 27, 2010: S&Ps; downgrade of Greece to BB+ relegates it to junk status. Stock markets plunge, the FTSE 100 index sheds 2.6pc.
May 2, 2010: After days of frantic talks, the IMF and EU agree to a 110bn rescue package over three years. The agreement is followed by a 48 hour strike, with three people killed after a bank is set on fire.
May 10, 2010: Global policymakers install an emergency financial safety net worth 750bn to bolster financial markets and shore up the euro against contagion from the Greek crisis.
May 18, 2010: Greece receives a 14.5bn loan from the EU and can now repay its immediate debt.
July 7, 2010: Parliament passes pension reform, a key requirement of the EU/IMF deal, cutting benefits, curbing widespread early retirement and raising thr women's retirement age from 60 to 65.
January 2011: Fitch becomes the third rating agency to cut Greek debt to "junk" status after S&P; and Moody's.
May 2, 2011: Finance Minister George Papaconstantinou again rules out a debt restructuring, adding that he has just "expressed the hope" that the EU and IMF will agree to extend bailout loan repayments.
May 21, 2011: Mr Papandreou and senior ECB officials say Greece must avoid debt restructuring and push on with budget cuts and privatisations to overcome its debt crisis.
May 23, 2011: Greece unveils a series of privatisations, part of a goal to raise 50bn by 2015 to pay down its debt mountain.
June 1, 2011: Greece criticises Moody's decision to cut its credit rating to Caa1, bringing it seven notches into junk territory, saying the move did not take into account the country's efforts to tidy up the country's finances.
June 4, 2011: Greece hit by further protests in central Athens, as Mr Papandreou agrees to make significant cuts in public-sector employment.
June 9, 2011: In an open letter to European and international authorities, German finance minister Wolfgang Schuble say: "Any additional financial support for Greece has to involve a fair burden sharing between taxpayers and private investors."
June 11, 2011: Jean-Claude Juncker, head of the eurozone finance ministers, backs Germany's proposal for a "soft restructuring" of Greece's debt, but said any contribution from private sector creditors should be "voluntary".
June 15, 2011: Speculation and fear from both markets and the Greek population turns violent.
Saving the Common Currency
What Was Decided at the Euro-Zone Crisis Summit?
Resolutions passed at last Thursday's emergency summit in Brussels prove that euro-zone leaders are ready to take major steps to contain the debt crisis.
At the July 21 emergency summit on the euro crisis, European leaders passed resolutions which will have a lasting impact on how euro-zone countries deal with indebted countries. SPIEGEL ONLINE presents an overview of the deal reached.
Last Thursday, euro-zone leaders met in Brussels for an emergency summit on the euro crisis, where they agreed on a second bailout for Greece. SPIEGEL ONLINE has prepared an overview of the resolutions reached:
Lower Interest Rates and Extended Maturities
Greece will receive additional loans through mid-2014 in the amount of 109 billion ($157 billion). This official funding from the International Monetary Fund (IMF) and the European Financial Stability Facility (EFSF) will be divided into two parts. Some 54 billion will go directly to the Greek government, while the remaining 55 billion will serve to guarantee the voluntary participation of private-sector investors.
Interest rates on the loans to Greece will be lowered from 4.5 percent to approximately 3.5 percent. Maturities of future EFSF loans -- which are the intended vehicle for the next disbursement of loans for Greece -- will be extended from 7.5 to at least 15 years. These changes in interest rates and maturities will also apply to Ireland and Portugal, which have also been bailed out by the EU and IMF.
Voluntary Contribution from the Private Sector
Banks and private investors are expected to take part in the bailout on a voluntary basis. Creditors can exchange Greek bonds for new securities with longer maturities. They can accept a discount by purchasing the new securities at 80 percent of their par value (their stated value), or they can accept future lower interest rates. The euro rescue fund will provide collateral for the new securities. Alternately, old bonds can be sold to the EFSF at a discounted rate.
The private sector is expected to contribute some 50 billion in total through mid-2014. Of this, 37 billion will likely come from bond swaps while 12.6 billion is anticipated to come from bond buybacks.
The involvement by private-sector creditors is an initiative uniquely planned to help Greece, and will not apply to Ireland or Portugal.
Increased Security against Future Crises
The EFSF and the European Stability Mechanism which will replace it from 2013 will have the option of buying up debt issued by crisis-hit countries from private creditors. Previously only the European Central Bank has played this role.
Precautionary lines of credit will be set up for euro-zone countries, which they can turn to in instances of need. Additionally, a country's banking sector will be supported through credit lines to the affected government.
Support for Growth and Investment in Greece
A development plan is intended to help make the ailing economy competitive again.
Regards,
Dev Raj Singh
PGP1
Goa Institute of Management
As fate would have it, there are some terms which are imperative for you guys.... this little article might help you familiarize yourself with jargons and help in the interview...
Economics is the study of how people make choices to get what they want, when they cannot get everything they want.
Branches of Economics:
Micro Economics: It is the branch of economics that deal with the personal decisions of consumers and entrepreneurs. It looks at the behaviour of individuals, homes, businesses or even groups of these. Its primary concern is to help consumers and investors make their lives better by increasing their earnings and satisfying their needs despite limited resources. Also included in its study are the consumers' decisions on what products to buy and how the cost of commodities is determined.
Macro Economics: It deals with the larger aspects of a nation's economy, such as the sectors of agriculture, industry, and service. It aims to (a) speed up the economy's growth rate and increase total production; (b) increase the rate of employment; (c) keep the prices of commodities stable so that they remain affordable; and (d) have sufficient reserves for foreign exchange for importing goods and paying off loans.
Regularly used terminology in Economics:
Gross Domestic Product: It refers to the market value of all goods and services produced in an economy in a given period. The economy of India is the 10th largest in the world by nominal GDP. The GDP of Indian economy is $1.38 trillion and is expected to grow at 8.2% vis--vis last year as per the recent update. US lead in nominal GDP ranking.
Gross National Product. GNP is the total value of all final goods and services produced within a nation in a particular year, plus income earned by its citizens (including income of those located abroad), minus income of non-residents located in that country. Basically, GNP measures the value of goods and services that the country's citizens produced regardless of their location. GNP is one measure of the economic condition of a country, under the assumption that a higher GNP leads to a higher quality of living, all other things being equal.
Net National Product: The monetary value of finished goods and services produced by a country's citizens, whether overseas or resident, in the time period being measured (i.e., the gross national product, or GNP) minus the amount of GNP required to purchase new goods to maintain existing stock (i.e., depreciation).
Alternatively, net national product (NNP) can be calculated as total payroll compensation + net indirect tax on current production + operating surpluses.
Opportunity cost is the cost of any activity measured in terms of the best alternative forgone.
Inflation: Inflation is a rise in the general level of prices of goods and services in an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects erosion in the purchasing power of money a loss of real value in the internal medium of exchange and unit of account in the economy.
Presently the Indian economy is trying to combat high rate of inflation. The last updated rate of inflation is 9.4%.
Deflation: A general decline in prices, often caused by a reduction in the supply of money or credit. Deflation can be caused also by a decrease in government, personal or investment spending. The opposite of inflation, deflation has the side effect of increased unemployment since there is a lower level of demand in the economy, which can lead to an economic depression. Central banks attempt to stop severe deflation, along with severe inflation, in an attempt to keep the excessive drop in prices to a minimum.
Recession: A significant decline in activity across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale-retail trade. The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country's gross domestic product (GDP).
Depression: In economics, a depression is a sustained, long-term downturn in economic activity in one or more economies. It is a more severe downturn than a recession, which is seen by economists as part of a normal business cycle.
Boom: Boom is the period that follows recovery phase in a standard economic cycle. A boom is characterized by an economy working at full or near- full capacity, strong consumer demand, low rate of unemployment, and a rising stock market, usually accompanied by rapidly increasing consumer prices (inflation).
Repo Rate: Repo rate is the rate at which banks borrow rupees from RBI. A reduction in the repo rate helps banks to get money at a cheaper rate. When the repo rate increases borrowing from RBI becomes more expensive.
The lender of security is said to be doing repo and the lender of cash reverse repo. It is more applicable when there is a liquidity crunch in the market. In order to increase the liquidity in the market, the central bank does it.
Bank rate is the rate at which central bank gives money to the commercial banks and other financial institutions.
CRR: Cash reserve Ratio (CRR) is the amount of funds that the banks have to keep with RBI. If RBI decides to increase the percent of this, the available amount with the banks comes down. RBI is using this method (increase of CRR rate), to drain out the excessive money from the banks. Thus we can say that this serves duel purposes i.e. it not only ensures that a portion of bank deposits is totally risk-free, but also enables RBI to control liquidity in the system, and thereby, inflation by tying the hands of the banks in lending money.
Bombay Stock Exchange
Bombay Stock Exchange is the oldest stock exchange in Asia .It was established as The Native Share & Stock Brokers' Association" in 1875.Today, BSE is the world's number 1 exchange in the world in terms of the number of listed companies (over 4900). It is the world's 5th most active in terms of number of transactions handled through its electronic trading system. It is in the top ten of global exchanges in terms of the market capitalization of its listed companies.
The National Stock Exchange (NSE) is located at Mumbai, India. It is the 9th largest stock exchange in the world by market capitalization and largest in India by daily turnover and number of trades, for both equities and derivative trading. Though a number of other exchanges exist, NSE and the Bombay Stock Exchange are the two most significant stock exchanges in India. The NSE's key index is the S&P; CNX Nifty, known as the NSE NIFTY (National Stock Exchange Fifty), an index of fifty major stocks weighted by market capitalisation.
Stocks: Total equity capital of a company is divided into equal units of small denominations; each called a share or stock. Stock represents a share in the ownership of a company. As you acquire more stock, your ownership stake in the company becomes greater. Whether you say shares, equity, or stock, it all means the same thing.
Issue of Shares: Most companies are usually started privately by their promoter(s). However, the promoters capital and the borrowings from banks and financial institutions may no
Initial Public Offering (IPO) is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public. This paves way for listing and trading of the issuers securities.
A follow on public offering (Further Issue) is when an already listed company makes either a fresh issue of securities to the public or an offer for sale to the public, through an offer document.
Rights Issue is when a listed company which proposes to issue fresh securities to its existing shareholders as on a record date. The rights are normally offered in a particular ratio to the number of securities held prior to the issue. This route is best suited for companies who would like to raise capital without diluting stake of its existing shareholders.
Bonds: It is a fixed income (debt) instrument issued for a period of more than one year with the purpose of raising capital. The central or state government, corporations and similar institutions sell bonds. A bond is generally a promise to repay the principal along with a fixed rate of interest on a specified date, called the Maturity Date.
Debentures: It is also a fixed income (debt) instrument similar to bonds, the only difference is that the term debenture is used for instruments issued by private corporate sector.
Mutual Funds: These are funds operated by an investment company which raises money from the public and invests in a group of assets (shares, debentures etc.). It is a substitute for those who are unable to invest directly in equities or debt because of resource, time or knowledge constraints. Benefits include professional money management, buying in small amounts and diversification.
Dividend: Returns received by investors in equities come in two forms a) growth in the value (market price) of the share and b) dividends. Dividend is distribution of part of a company's earnings to shareholders, usually twice a year in the form of a final dividend and an interim dividend. Dividend is therefore a source of income for the shareholder. Normally, the dividend is expressed on a 'per share' basis. This makes it easy to see how much of the company's profits are being paid out, and how much are being retained by the company to plough back into the business. Directors of a company have discretion as to how much of a dividend to declare or whether they should pay any dividend at all.
Market Capitalisation: The market value of a quoted company, which is calculated by multiplying its current share price (market price) by the number of shares issued, is called as market capitalization.
E.g. Company A has 120 million shares in issue. The current market price is Rs. 100. The market capitalisation of company A is Rs. 12000 million.
Blue-Chip Stock: Blue Chip Stocks are stock of a well-established and financially sound company that has demonstrated its ability to pay dividends in both good and
bad times. These stocks are usually less risky than other stocks. The stock price of a blue chip usually closely follows the S&P; 500.
Price-earnings ratio: A valuation ratio of a company's current share price compared to its per-share earnings.
It is calculated as= Market Value per Share
Earnings per Share (EPS)
Portfolio: A Portfolio is a combination of different investment assets mixed and matched for the purpose of achieving an investor's goal(s). Items that are considered a part of your portfolio can include any asset you own-from shares, debentures, bonds, mutual fund units to items such as gold, art and even real estate etc. However, for most investors a portfolio has come to signify an investment in financial instruments like shares, debentures, fixed deposits, mutual fund units.
Primary Market and the Secondary Market: In the primary market, securities are offered to public for subscription for the purpose of raising capital or fund. Secondary market is an equity trading venue in which already existing/pre-issued securities are traded among investors. Secondary market could be either auction or dealer market. While stock exchange is the part of an auction market, Over-the-Counter (OTC) is a part of the dealer market.
Red Herring Prospectus: A large number of new companies float public issues. While a large number of these companies are genuine, quite a few may want to exploit the investors. Therefore, it is very important that an investor before applying for any issue identifies future potential of a company. A part of the guidelines issued by SEBI (Securities and Exchange Board of India) is the disclosure of information to the public.
This disclosure includes information like the reason for raising the money, the way money is proposed to be spent, the return expected on the money etc. This information is in the form of Prospectus which also includes information regarding the size of the issue, the current status of the company, its equity capital, its current and past performance, the promoters, the project, cost of the project, means of financing, product and capacity etc. It also contains lot of mandatory information regarding underwriting and statutory compliances. This helps investors to evaluate short term and long term prospects of the company.
SEBI: The Securities and Exchange Board of India (SEBI) is the regulatory body for the investment market in India. The purpose of this board is to maintain stable and efficient markets by creating and enforcing regulations in the marketplace.
Regards,
Dev Raj Singh
PGP1
Goa Institute of management
Some people PMed about "Why GIM??" question
This is what i feel, some people may differ with me on this. but still its solely my discretion and yours too if you use it :P
- Strong Alumni base (try to relate it with institute industry collaboration)
- Excellent faculty
- Stress on CSR and research projects
- Focus on developing soft skills (mention name of some clubs and if you are interested in music definitely mention choir*, if your luck is good, you may earn some brownie points)
*Check website
and in the end you can tell about the transparency and ethical stand which GIM takes in everything (less advertisement, no bloated placement figures etc.)
Hope it helps :)
All the best
Hi seniors,
why is the placement figures for GIM i less the previous year?seeing a drop of more than 20 percentage!!,any tangible reasons behind this drop in performance?
Hi seniors,
why is the placement figures for GIM i less the previous year?seeing a drop of more than 20 percentage!!,any tangible reasons behind this drop in performance?
1. The placement report is not yet prepared.
2. So would request you to wait for that. Just saying a drop of 20% on assumption won't be fair.
3. But let me tell one thing : Bad Economic Conditions has affected all campuses across the nation. Even the best of the colleges (you know which colleges I am referring to) cannot boast of the placements this year.
hey.... dont worry.... many people havnt even recieved their score cards...
u can take the print out through your xat login id... from any cyber cafe...
dont tell the panel that u forgot ur original scorecard..that ll sound irresponsible.
XAT score card requiremnet is not mentioned in the email we got...so why carry it ?
ankur54321 SaysXAT score card requiremnet is not mentioned in the email we got...so why carry it ?
You have to carry the scorecard or the print out . They have mentioned it. And they are asking for it. Do carry it.
ATB!
You have to carry the scorecard or the print out . They have mentioned it. And they are asking for it. Do carry it.
ATB!
You are required to report at your own cost at the centre fifteen minutes
before the scheduled time.
The date, time and venue of the interview cannot be changed.
Please bring your original certificates, mark sheets, support of the
information furnished in your Application Form, any recent photo-identity
card, and carry a pen with you.
Candidates who have shown Govt. recognized achievements in application
must bring the credentials in original.
Please plan your travel to the centre assuming that you would not be held
back for more than 6 hours beyond the start time mentioned above.
where have they asked for XAT score card ???
You are required to report at your own cost at the centre fifteen minutes
before the scheduled time.
The date, time and venue of the interview cannot be changed.
Please bring your original certificates, mark sheets, support of the
information furnished in your Application Form, any recent photo-identity
card, and carry a pen with you.
Candidates who have shown Govt. recognized achievements in application
must bring the credentials in original.
Please plan your travel to the centre assuming that you would not be held
back for more than 6 hours beyond the start time mentioned above.
where have they asked for XAT score card ???
but they are still checking the scorecard...so take it man...
You are required to report at your own cost at the centre fifteen minutes
before the scheduled time.
The ................hey asked for XAT score card ???
I sincerely request you take the XAT Score Card if you have received it.
If you have not received, you can take the print our of soft copy from the site XAT Online 2012
If you are not able to take print out, you can go without the score card as well. But i hope you remember your XAT Score with all sectionals.
I sincerely request you take the XAT Score Card if you have received it.
If you have not received, you can take the print our of soft copy from the site XAT Online 2012
If you are not able to take print out, you can go without the score card as well. But i hope you remember your XAT Score with all sectionals.
i did remember my sectionals when they asked me ... 😁 yesterday ..
91%
90.2%
53%.