About Me
I’m originally from Kanpur. I was always fond of studying and wanted to know more and more. I was the school topper of commerce stream. Post my class 12th I did BBA, CA and CS all over a period of four and a half years. I worked in various CA firms for around 2 years to gain ground level knowledge of all that I had learnt.
Being passionate about the field of finance and with a zeal to know more, I decided to pursue my MBA from IIFT Delhi. I interned with JP Morgan Chase & Co. and got a PPO from the same. I am currently serving as the coordinator for the Equity Research Cell at my college.
My MBA life so far has been very exciting. After completing my first year of MBA, I went to the London School of Economics and Political Science for summer school where I studied International Financial Law. I also take part in various corporate competitions. As the national winner of Axis Moves, I got a chance to visit Shanghai wherein I worked with Axis Bank on a live project.
I am a numismatist and I love to read books and travel in my leisure time.
How would you explain the "The Credit Crisis of 2008" to a 12-year-old?
Imagine a cake with a layer of chocolate, a layer of strawberry and another layer of vanilla that you bought with your entire pocket money. It has choco-chip cookies on the top.
You put the cake on a table in the garden planning to enjoy it while sitting in the sun. Then you go in the house to bring your i-pad. But when you return you see the cake is all spoilt as it has fallen on the ground. Now you cannot eat that cake.
Now imagine the chocolate layer as the loans given by banks to people who had no capacity to repay. The strawberry layer is the securities constructed from these loans (strawberry layer on top of the chocolate layer). Vanilla layer is the Credit default swaps (created to protect the investments in securities). The choco-chip cookies are the fund houses investing in the chocolate and strawberry layer.
When the cake falls, it is like the bubble burst that happened in 2008. All the layers get spoilt and the 12-year-old is the investor left without any money as the entire cake was like the promises made by the banks.
If you had a magic wand, what is the one problem in India that you would magically wish away? Explain why.
If I would have had a magic wand, the one problem in India I would want to magically wish away is Political Corruption. It is one of the most serious problems our country faces today. The political corruption in our country is damaging the importance of the law governing our society. The corrupt politicians are damaging our entire country and every aspect of it. They affect the bureaucrats, damage our defense and army, damage our infrastructural needs and every aspect of our society. If corruption is eradicated from our political system, India can progress in a much better way as the reforms and the policies made to benefit the citizens could actually be implemented.
India does not have 1 hospital bed per 1000 persons. It is much below WHO's average of 5. If you were the prime minister of the country, how would you solve this problem?
India has less than 1 doctor per 1000 persons. The problem to be solved first is to increase the number of doctors in the country. For this, as a Prime Minister, I will encourage private players to come up with good medical colleges where standard medical education can be provided. As the government also has limited resources, it cannot open medical colleges itself so I will form a body to frame the rules and regulations for such private medical colleges so that they are of equal standing as government medical colleges. Only after the number of doctors per 1000 persons is increased can the issue of hospital beds be addressed. More doctors mean more nursing homes. It is also important to revise the rules for nursing homes and hospitals. The constructed area as a percentage of the ground area needed to construct a hospital/nursing home needs to be such that the area can be optimally utilized for medical purposes. Rules for opening a nursing home can be relaxed a bit so that more nursing homes are built, but it should be kept in mind that the quality of medical facilities is not compromised. As the Prime Minister, I will approach the issue in a step by step manner in order to solve it.