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“The First of its Kind” Induction Programme @ IIM Ranchi: Welcoming Newness in a Fresh Way !

The two-week long induction program for 2015-2017 PGDM and PGDHRM batches served its purpose of ice-breaking, bonding and information sharing, all while living up to the brand value of an IIM. Unlike the expectations of the students, the learning commenced right from day 1 (day zero being reserved for registration process), yet it was ensured that the students aren’t dismayed but amused. It began on 13th June with Dean, Prof. (Dr.)  Pradip Kumar Bala addressing the entire batch with a welcome speech focusing on the mission and vision of IIM Ranchi. This was followed by the welcome speech by Director, Prof. Anindya Sen who motivated the students to work brilliantly while maintaining a personal philosophy of life. The entire induction program was meticulously designed by Prof. Gaurav Marathe.

The activities to follow required the 190 students to be divided into 8 batches, to engage them into interactions, group learnings and performances.The first activity for the groups was to prepare a 7 minutes short film on ‘Management in our lives’ within 24hrs! This, and several such assignments aimed at encouraging team work and co-ordination among students while making them aware of “deadlines are sacrosanct” mantra at IIM Ranchi. The students submitted impressive entries and lived up to  the expectations of the judges, in terms of uniqueness of storyline, direction and performances. The short film show was followed by a ‘Know your state’ session where Professor of Economics at Ranchi University, Prof. Saran enlightened the batch about the tribal community in Jharkhand. The next few days had presentations on Administration, Hostel and Mess, Library, AIS and other facilities provided by the institute, including the important Bloomberg session on being familiar to the Bloomberg terminals. They were also exposed to a few foundation classes on Excel, Case Study solving and Quantitative Techniques by the in-house faculty at IIM Ranchi.

Prof. Amita Dutt from Rabindra Bharati University delivered a lecture on Dance forms of India portraying its heritage, values and culture in a novel way, while Prof. Swapan Kumar Mullick, (Director, The Statesman Print Journalism School) gave the students an informative and enlightening lecture on film making. Prof. Deepak Dhamija  and Prof. Ghanshyam Lalsa also guided them through the art of drama making.  An outbound program was arranged in collaboration with the RMG Learning Centre,wherein the students got some time out to visit rock gardens, the 120 year old Firayalal Shopping mall, take snaps in front of Captain Dhoni’s house, among many other things in Ranchi. RMG group kept the students engaged with fun activities such as solving murder mystery and war strategy.

Besides this,  the new batch attended area presentations on Accounting and Finance, Operations, Marketing, Economics and Strategy building and HRM and Organizational Behaviour by the respective faculty members. They also were a part of International Yoga Day, observed across the country. The most interesting part was the sports events arranged by seniors. Tug of War, Dodgeball, Bricks, Pipes and Marbles,  to name a few. These games were not just fun, but were also associated with an important learning in management. The senior batch also worked very hard on introducing each and every committee, club and special interest group to the junior batch, so as to pass on the baton to them in coming times.

The  induction programme reached its culmination with the Talent show. During the entire 2 week Induction Program, each and every team, in the little time at disposal for preparation for the Talent Show, ultimately managed to pull off some stellar performances in front of the judges. Social issues, humorous acts, entertaining performances filled the CMPDI auditorium as the teams  staged some rare talents amidst an enriched diversity of engineers, geologists, architects and commerce students having varied work experience in diverse domains.

These two weeks gave the students a complete hang of how busy, occupied yet enjoyable the coming two years are going to be, leaving them totally prepared to ride the daunting B-school roller coaster as the classes begin from 29th June 2015.

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To New Beginnings – IIM Ranchi

An MoU was signed between IIM Ranchi and UNICEF on December 9th, 2016. UNICEF is partnering with IIM Ranchi to set up a Centre for Policy Advocacy & Management (CPAM) to continuously advocate, engage and collaborate with policymakers and other stakeholders on child survival, protection and development issues.

Welcoming the initiative, the CAO of IIM Ranchi, Brig. VS Saini said that this enhanced partnership would help improve the lives of children and families in Jharkhand.

Dr Madhulika Jonathan, Chief of UNICEF, Jharkhand said, “We are glad to be partnering with IIM Ranchi on the occasion of UNICEF’s 70th anniversary this year. UNICEF’s mandate and innovation strategy focuses on expanding partnerships with academic organisations to be able to leverage new ideas, strategies and approaches to improving the development goals. To seek to reach the SDGs, UNICEF is seeking to go beyond short-term engagements to integrated partnerships that add value to regional activities, advance critical analysis and programming, and can have an impact on a large scale.”

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Addressing the students and guests, Director of IIM Ranchi, Prof Anindya Sen said that this initiative would provide a golden opportunity to the faculty members as well as students of IIM Ranchi to contribute towards the growth and inclusive development of Jharkhand. This opportunity will be the ideal platform for students to know of the ground realities, and be able to consolidate their efforts towards the betterment of the society.

She said that the engagement with IIM Ranchi would have CPAM host scholars, researchers and subject experts as a part of the Visiting Scholars Programme for identifying gaps, suggesting solutions and building an evidence base to influence and strengthen government programmes and policies. Advocacy seminars and conferences will be organised to increase awareness of students, companies, NGOs/CSOs and the civil society on child rights, sustainable development goals (SDGs), responsible business practices and corporate engagement. Capacity development programmes are planned for government officials and working professionals on management aspects and corporate social responsibility in partnership with Jharkhand Corporate Social Responsibility Council of the Department of Industries, Mines and Geology. The CPAM will also undertake documentation of innovative CSR work and best practices in the field.

The initiative also aims to provide stability and direction to innovative thinking so as to create a ‘new policy environment’ in Jharkhand for the successful implementation of policies taken up by the government. It also has a long-term vision of combating nutrition related issues in order to come up with a solution for malnutrition which is a gripping problem in the state. To further the cause of Swachh Bharat, awareness regarding sanitation would also be an agenda of this programme.

In addition to this, efforts will be made to document the CSR initiatives and practices undertaken by the people of Jharkhand. The students of Ranchi are enthusiastic about the prospect of working with the international body on this noble cause.

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A CA’s Perspective On Demonetization – IIM Ranchi

Amidst all the demonetization chaos, IIM Ranchi students had the honour of having an interactive session with Mr Parag Kulkarni. The Finance Club of IIM Ranchi organised a meet with Mr Parag who is the first and youngest Indian to complete CA exams from India, USA, England and Wales. He is an associate member of Institute of Chartered Accountants in England & Wales (ICAEW), Institute of Chartered Accountants of India (ICAI), a Charter Holder for CPA(USA), has also completed Diploma in IFR from the Association of Chartered Certified Accountants (ACCA), London and IFRS Certification from ICAI.

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In the session, Mr Parag discussed the impact of demonetization and its implications on different sectors of the Indian economy. Welcoming the step of demonetization taken by the government, Mr Parag explained its global perspective. “There are four types of money in the market”, he said, “ Black Money– the money that remains unaccounted to avoid paying taxes. Grey Money – the money that leaves the country unaccounted (black money in a foreign country) but is brought back again into the economy as white money (in form of some foreign investments). Then there is Green Money – the fake and counterfeit currencies brought in by anti-nationals. Lastly, Red Money – money that comes out of illegal business activities.”

Mr Parag blamed the bureaucratic system of governance, improper rules and policies of businesses for black money in the economy. He added that to eradicate black money from the system, the government would require to tackle red money first and along with that implement structural reforms. Talking about tax evasion through investments in tax havens, he said that the government will soon be coming up with tax laws in the coming financial year.

Due to demonetization, there has been an increase in the deposits to the bank, increasing the interest expense of the banks. This has lead to banks investing in government bonds to cover their spread, eventually increasing the funds with the government which would be spent for development of the economy, he said.  In the end, Mr Parag touched upon several other topics like economic crises of 2008 and inflationary measure RBI can take in near future. With a lot of KT, it was a great session.

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Demonetization Awareness Drive By IIM Ranchi In Remote Village Of Ranchi

With the government demonetizing 500 and 1000 rupee notes, it has become imperative for everyone to spread this awareness in the remotest area of the country so that all the villagers can get a full value of their hard earned money. And to further this initiative, the Finance club and Samarpan – the social responsibility club of IIM Ranchi planned to visit a remote village in Dimra tehsil of Ranchi along with a faculty member, Prof. Gaurav Marathe and a localite Mr. Mangesh Jha.

The agenda of the visit was to acknowledge the villagers about the demonetization of these higher currency notes and spread awareness about the right channels to get the new currency notes in exchange for the old ones. The team started off by reaching the Dimra tehsil and walked in 2 kms in order to reach the village with a population of around 100 people. On reaching, the team paired up in two to interact one to one with the villagers and gather them around for further interaction. As people were gathered, Prof. Gaurav Marathe explained them about the demonetization of the notes and the procedure to obtain new currency notes for the old ones.

The professor also talked about the time line till which the old currency notes will be changed, the amount up to which they can get exchanged in one time and the documents that needs to be produced for the procedure. Prof. Marathe asked the villagers to not accept any 500 of 1000 denominated currencies from their employers if paid as a salary, since it is of no value now.

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On further interacting with the villagers the team got to know about their plight. Their problems include lack of electricity and proper sanitation. Most of these villagers rely on agriculture for their income, but due to improper irrigation facilities, they have to look for other low paying employment opportunities like rock cutting and wood cutting. A truck of rock or wood would pay them only about Rs 400 they say. Mr. Mangesh has been working for the development of this village with his team and has set up sedimentation process filter to provide the villagers with potable water.

The team also got the learn that there is no hospital in the village and the nearest hospital is in the Jonha village which is about 10 kms away. If the health concern gets serious they need to travel all the way to RIMS hospital in the Ranchi city. There is one school in the village which teaches only till class 5, for further studies children are sent to school in Jonha village.

The team from IIM Ranchi interacted with the villagers and assured them to come up with implementable ideas to help better their village and lives.

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With the government demonetizing 500 and 1000 rupee notes, it has become imperative for everyone to spread this awareness in the remotest area of the country so that all the villagers can get a full value of their hard earned money. And to further this initiative, the Finance club and Samarpan – the social responsibility club of IIM Ranchi planned to visit a remote village in Dimra tehsil of Ranchi along with a faculty member, Prof. Gaurav Marathe and a localite Mr. Mangesh Jha.

The agenda of the visit was to acknowledge the villagers about the demonetization of these higher currency notes and spread awareness about the right channels to get the new currency notes in exchange for the old ones. The team started off by reaching the Dimra tehsil and walked in 2 kms in order to reach the village with a population of around 100 people. On reaching, the team paired up in two to interact one to one with the villagers and gather them around for further interaction. As people were gathered, Prof. Gaurav Marathe explained them about the demonetization of the notes and the procedure to obtain new currency notes for the old ones.

The professor also talked about the time line till which the old currency notes will be changed, the amount up to which they can get exchanged in one time and the documents that needs to be produced for the procedure. Prof. Marathe asked the villagers to not accept any 500 of 1000 denominated currencies from their employers if paid as a salary, since it is of no value now.

DSC_0127.JPG

On further interacting with the villagers the team got to know about their plight. Their problems include lack of electricity and proper sanitation. Most of these villagers rely on agriculture for their income, but due to improper irrigation facilities, they have to look for other low paying employment opportunities like rock cutting and wood cutting. A truck of rock or wood would pay them only about Rs 400 they say. Mr. Mangesh has been working for the development of this village with his team and has set up sedimentation process filter to provide the villagers with potable water.

The team also got the learn that there is no hospital in the village and the nearest hospital is in the Jonha village which is about 10 kms away. If the health concern gets serious they need to travel all the way to RIMS hospital in the Ranchi city. There is one school in the village which teaches only till class 5, for further studies children are sent to school in Jonha village.

The team from IIM Ranchi interacted with the villagers and assured them to come up with implementable ideas to help better their village and lives.

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With the government demonetizing 500 and 1000 rupee notes, it has become imperative for everyone to spread this awareness in the remotest area of the country so that all the villagers can get a full value of their hard earned money. And to further this initiative, the Finance club and Samarpan – the social responsibility club of IIM Ranchi planned to visit a remote village in Dimra tehsil of Ranchi along with a faculty member, Prof. Gaurav Marathe and a localite Mr. Mangesh Jha.

The agenda of the visit was to acknowledge the villagers about the demonetization of these higher currency notes and spread awareness about the right channels to get the new currency notes in exchange for the old ones. The team started off by reaching the Dimra tehsil and walked in 2 kms in order to reach the village with a population of around 100 people. On reaching, the team paired up in two to interact one to one with the villagers and gather them around for further interaction. As people were gathered, Prof. Gaurav Marathe explained them about the demonetization of the notes and the procedure to obtain new currency notes for the old ones.

The professor also talked about the time line till which the old currency notes will be changed, the amount up to which they can get exchanged in one time and the documents that needs to be produced for the procedure. Prof. Marathe asked the villagers to not accept any 500 of 1000 denominated currencies from their employers if paid as a salary, since it is of no value now.

DSC_0127.JPG

On further interacting with the villagers the team got to know about their plight. Their problems include lack of electricity and proper sanitation. Most of these villagers rely on agriculture for their income, but due to improper irrigation facilities, they have to look for other low paying employment opportunities like rock cutting and wood cutting. A truck of rock or wood would pay them only about Rs 400 they say. Mr. Mangesh has been working for the development of this village with his team and has set up sedimentation process filter to provide the villagers with potable water.

The team also got the learn that there is no hospital in the village and the nearest hospital is in the Jonha village which is about 10 kms away. If the health concern gets serious they need to travel all the way to RIMS hospital in the Ranchi city. There is one school in the village which teaches only till class 5, for further studies children are sent to school in Jonha village.

The team from IIM Ranchi interacted with the villagers and assured them to come up with implementable ideas to help better their village and lives.

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With the government demonetizing 500 and 1000 rupee notes, it has become imperative for everyone to spread this awareness in the remotest area of the country so that all the villagers can get a full value of their hard earned money. And to further this initiative, the Finance club and Samarpan – the social responsibility club of IIM Ranchi planned to visit a remote village in Dimra tehsil of Ranchi along with a faculty member, Prof. Gaurav Marathe and a localite Mr. Mangesh Jha.

The agenda of the visit was to acknowledge the villagers about the demonetization of these higher currency notes and spread awareness about the right channels to get the new currency notes in exchange for the old ones. The team started off by reaching the Dimra tehsil and walked in 2 kms in order to reach the village with a population of around 100 people. On reaching, the team paired up in two to interact one to one with the villagers and gather them around for further interaction. As people were gathered, Prof. Gaurav Marathe explained them about the demonetization of the notes and the procedure to obtain new currency notes for the old ones.

The professor also talked about the time line till which the old currency notes will be changed, the amount up to which they can get exchanged in one time and the documents that needs to be produced for the procedure. Prof. Marathe asked the villagers to not accept any 500 of 1000 denominated currencies from their employers if paid as a salary, since it is of no value now.

DSC_0127.JPG

On further interacting with the villagers the team got to know about their plight. Their problems include lack of electricity and proper sanitation. Most of these villagers rely on agriculture for their income, but due to improper irrigation facilities, they have to look for other low paying employment opportunities like rock cutting and wood cutting. A truck of rock or wood would pay them only about Rs 400 they say. Mr. Mangesh has been working for the development of this village with his team and has set up sedimentation process filter to provide the villagers with potable water.

The team also got the learn that there is no hospital in the village and the nearest hospital is in the Jonha village which is about 10 kms away. If the health concern gets serious they need to travel all the way to RIMS hospital in the Ranchi city. There is one school in the village which teaches only till class 5, for further studies children are sent to school in Jonha village.

The team from IIM Ranchi interacted with the villagers and assured them to come up with implementable ideas to help better their village and lives.

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With the government demonetizing 500 and 1000 rupee notes, it has become imperative for everyone to spread this awareness in the remotest area of the country so that all the villagers can get a full value of their hard earned money. And to further this initiative, the Finance club and Samarpan – the social responsibility club of IIM Ranchi planned to visit a remote village in Dimra tehsil of Ranchi along with a faculty member, Prof. Gaurav Marathe and a localite Mr. Mangesh Jha.

The agenda of the visit was to acknowledge the villagers about the demonetization of these higher currency notes and spread awareness about the right channels to get the new currency notes in exchange for the old ones. The team started off by reaching the Dimra tehsil and walked in 2 kms in order to reach the village with a population of around 100 people. On reaching, the team paired up in two to interact one to one with the villagers and gather them around for further interaction. As people were gathered, Prof. Gaurav Marathe explained them about the demonetization of the notes and the procedure to obtain new currency notes for the old ones.

The professor also talked about the time line till which the old currency notes will be changed, the amount up to which they can get exchanged in one time and the documents that needs to be produced for the procedure. Prof. Marathe asked the villagers to not accept any 500 of 1000 denominated currencies from their employers if paid as a salary, since it is of no value now.

DSC_0127.JPG

On further interacting with the villagers the team got to know about their plight. Their problems include lack of electricity and proper sanitation. Most of these villagers rely on agriculture for their income, but due to improper irrigation facilities, they have to look for other low paying employment opportunities like rock cutting and wood cutting. A truck of rock or wood would pay them only about Rs 400 they say. Mr. Mangesh has been working for the development of this village with his team and has set up sedimentation process filter to provide the villagers with potable water.

The team also got the learn that there is no hospital in the village and the nearest hospital is in the Jonha village which is about 10 kms away. If the health concern gets serious they need to travel all the way to RIMS hospital in the Ranchi city. There is one school in the village which teaches only till class 5, for further studies children are sent to school in Jonha village.

The team from IIM Ranchi interacted with the villagers and assured them to come up with implementable ideas to help better their village and lives.

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With the government demonetizing 500 and 1000 rupee notes, it has become imperative for everyone to spread this awareness in the remotest area of the country so that all the villagers can get a full value of their hard earned money. And to further this initiative, the Finance club and Samarpan – the social responsibility club of IIM Ranchi planned to visit a remote village in Dimra tehsil of Ranchi along with a faculty member, Prof. Gaurav Marathe and a localite Mr. Mangesh Jha.

The agenda of the visit was to acknowledge the villagers about the demonetization of these higher currency notes and spread awareness about the right channels to get the new currency notes in exchange for the old ones. The team started off by reaching the Dimra tehsil and walked in 2 kms in order to reach the village with a population of around 100 people. On reaching, the team paired up in two to interact one to one with the villagers and gather them around for further interaction. As people were gathered, Prof. Gaurav Marathe explained them about the demonetization of the notes and the procedure to obtain new currency notes for the old ones.

The professor also talked about the time line till which the old currency notes will be changed, the amount up to which they can get exchanged in one time and the documents that needs to be produced for the procedure. Prof. Marathe asked the villagers to not accept any 500 of 1000 denominated currencies from their employers if paid as a salary, since it is of no value now.

DSC_0127.JPG

On further interacting with the villagers the team got to know about their plight. Their problems include lack of electricity and proper sanitation. Most of these villagers rely on agriculture for their income, but due to improper irrigation facilities, they have to look for other low paying employment opportunities like rock cutting and wood cutting. A truck of rock or wood would pay them only about Rs 400 they say. Mr. Mangesh has been working for the development of this village with his team and has set up sedimentation process filter to provide the villagers with potable water.

The team also got the learn that there is no hospital in the village and the nearest hospital is in the Jonha village which is about 10 kms away. If the health concern gets serious they need to travel all the way to RIMS hospital in the Ranchi city. There is one school in the village which teaches only till class 5, for further studies children are sent to school in Jonha village.

The team from IIM Ranchi interacted with the villagers and assured them to come up with implementable ideas to help better their village and lives.

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With the government demonetizing 500 and 1000 rupee notes, it has become imperative for everyone to spread this awareness in the remotest area of the country so that all the villagers can get a full value of their hard earned money. And to further this initiative, the Finance club and Samarpan – the social responsibility club of IIM Ranchi planned to visit a remote village in Dimra tehsil of Ranchi along with a faculty member, Prof. Gaurav Marathe and a localite Mr. Mangesh Jha.

The agenda of the visit was to acknowledge the villagers about the demonetization of these higher currency notes and spread awareness about the right channels to get the new currency notes in exchange for the old ones. The team started off by reaching the Dimra tehsil and walked in 2 kms in order to reach the village with a population of around 100 people. On reaching, the team paired up in two to interact one to one with the villagers and gather them around for further interaction. As people were gathered, Prof. Gaurav Marathe explained them about the demonetization of the notes and the procedure to obtain new currency notes for the old ones.

The professor also talked about the time line till which the old currency notes will be changed, the amount up to which they can get exchanged in one time and the documents that needs to be produced for the procedure. Prof. Marathe asked the villagers to not accept any 500 of 1000 denominated currencies from their employers if paid as a salary, since it is of no value now.

DSC_0127.JPG

On further interacting with the villagers the team got to know about their plight. Their problems include lack of electricity and proper sanitation. Most of these villagers rely on agriculture for their income, but due to improper irrigation facilities, they have to look for other low paying employment opportunities like rock cutting and wood cutting. A truck of rock or wood would pay them only about Rs 400 they say. Mr. Mangesh has been working for the development of this village with his team and has set up sedimentation process filter to provide the villagers with potable water.

The team also got the learn that there is no hospital in the village and the nearest hospital is in the Jonha village which is about 10 kms away. If the health concern gets serious they need to travel all the way to RIMS hospital in the Ranchi city. There is one school in the village which teaches only till class 5, for further studies children are sent to school in Jonha village.

The team from IIM Ranchi interacted with the villagers and assured them to come up with implementable ideas to help better their village and lives.

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