College souls

Someone rightly said, "NO KNOWLEDGE WITHOUT COLLEGE". As I recently graduated from my college, I see something I will miss forever in my life. This enigmatic feeling is disturbing, so I decided to write something about my college.

When I joined a college, I had a lot of ambitions about careers and have a feeling about how would be people out there, but when I left the college, I still don't know about career, but I miss people out there, with whom I spent most beautiful days of my life. I am not sure, I will ever re venture into those days, but I will try to save those memories into my soul at a safe place where I can easily revisit them.

In my college, I traveled from being 'dabbu' to 'popular', 'studious' to 'funny, from strictly 'vegetarian' to 'alcoholic', and what other that I had not done. But still not missing my regular study. College provided me a stream of hope, and way to look around. And for this I will be remain indebted to my college for all my life.

The worst day in my recent life, I suppose, was the day, when I was leaving my college for last time.It was a feeling that I had not felt anytime before. I knew I was losing something, that I will not find anywhere.

Whenever, for sure, I know, I will pass through college, my heart would be sinking. But I will have no courage to enter that premises again.

India & entrepreneurship

Human beings are not job seekers by nature, they are enterprising by nature. It is wrong to think people as job seekers, ideally they are provider of goods and services.

Indians are once known for their enterprising nature, This is still believable, hen we see a large number of expatriates doing flourishing businesses in western countries. But by and large, this enterprising nature of Indians are stemmed out slowly due to various reasons in recent past.

But now we need a second wave of entrepreneurship, that will take India to number one economy in the world. It is the need of hour to build world class companies like Apple, Google, Daimler etc in India and to achieve new heights.

India is known for its Micro, Small and Medium Scale industries. And if we want to generate a enterprising India, we need to concentrate on these MSME industries. MSME industries, whether they are service providers, or manufacturers, need a special comprehensive approach.

1. First and foremost, students must be encouraged to think about establishing businesses. Now a days, students think of becoming employees and serving people abroad. This is not befitting to Indians being descendants of such a great sages. A passion, a streak need to be lightened into them to start their own business, to deliver needs of their country and rest of world. We need to provide them motivation to be master of their own destiny.

2. Ideas must be developed and must be streamlined. Products and process, which India requires must be brought to attention to the people.

3. Business friendly regime must be established. Factors of business like land, labor, captial must be accessible and competitive.

4. Free and ethical business environment needs to be created. Competition should be healthy. In India, people often practice unhealthy competition, that is widely visible in India's aviation and telecom sector. Ethical business norms must be encourages.

5. Also there should be a healthy insolvency code. In India, we are still having old bankruptcy practices, when all over the world has created, a good number of protective insolvency laws.

6. Taxation should be predictable and competitive. In India, Taxation is totally biased. We are a high taxation regime on one hand, but on other hand a large number of exemptions. So neither we get taxes and also we are precieved as high tax regime.

Success in competition

I bet, if you live in India, one word which is indispensable among its mass is, COMPETITION. Not only Indians, but everyone in every nation face greater competition, but in India, this is a second name to life and it is very very hard.

We have competition in each and every point at life whether it is school, college, job, promotion, style of living or what else. So, there is no need to run away from this competition. But we must accept this and face it like mountain.

To be successful in any competition, we need 3 P's. These are

• Purity
• Patience
• Perseverance

We must be in unison in our thoughts, word and actions if we want to win this world. It has nothing to do with this our age, gender, creed. In this way, we impart purity in our lives. This purity is essential for working incessantly.

We must observe patience for success. If we lose our patience, we lose our natural working style. So we lose everything.

Perseverance is not letting lose your temperament and work continuously without the fruits of actions.

In our pursuit, we must not look for our results, we are responsible only for our actions, so analyze your actions, try to improve them to achieve greater goals and work hard.  

RBI Monetary Policy Review: Basic Knowledge

In everyday, in newspapers or in TV nowadays, we see, reporters asking about monetary policy of RBI. We see, sometime columnist, urge for rate hike or to keep it at same position. Nowadays, we also see, Government is mulling to have monetary policy powers with itself from RBI. So, sometimes, people think, what is monetary policy. So let me explain in basic terms. 

Monetary Policy:

Actually, monetary policy is a way in which RBI controls flow of money in market. Now we think, actually what is needed to control the flow of money in market. We need to control the flow of money in order to check inflation. Let me explain, if there is more money in the market, then people will have more demand, but corresponding to this demand, if there is not enough supply, then prices of commodities will rise. So, it is very necessary to control the supply of money in the market. If there is high inflation, purchasing power of the country will decrease and growth will be lost and people will lose their job and then this vicious circle will continue. So we get to know flow of money is needed to be controlled to check inflation.

Role of RBI:

RBI is the sole issuer of currency in India. RBI also oversee monetary policy of India. Presently, RBI has a monetary policy committee which decides monetary policy of India. But RBI governor, presently, Raghuram Rajan has final authority on Monetary policy. RBI according to Urjit Patel committee recommendations, adopted Consumer Price Index of Inflation as benchmark for Monetary policy. RBI has fixed a target of under 6% inflation for January 2016. Then RBI will form this policy, to keep CPI in between 2-6%. 

Components of Monetary Policy:

Monetary policy of RBI consists of bank rate, repo rate, reverse repo rate, statutory liquid ratio, cash reserve ratio, marginal standing facility. 

Bank rate: This is the rate at which RBI gives loans to banks at long terms without any collateral. But this is not main monetary policy rate nowadays. 

Repo Rate: It is the interest  rate at which Banks borrow loan from RBI for short terms with collateral with maintaining statutory liquidity requirements.This is presently 7.25 %

Reverse Repo Rate: This is the interest rate at which RBI accepts bank deposits apart from Cash Reserve Ratio. This is always 1% less or 100 basis point less than Repo Rate. So it is 6.25 %.

Marginal Standing Facility: This is the rate at which banks can borrow money from RBI by pledging their Statutory Securities. This is always  1% higher than Repo Rate.

Cash Reserve Ratio: This is the ratio of total net time and demand deposits of Bank which it has to keep with RBI. This is currently 4%. At this RBI does not give any interest. So it is dead asset of banks. 

Statutory Liquidity Ratio: This is the total ratio of total net demand and time deposits of which banks has to invest in Govt. Securities or in RBI approved securities. In this way, govt. generate capital for its schemes at less rates of interest. This is also known as financial repression. This is currently 21.5%. 

These are few ways by which RBI tries to control money flow in the market. By these ways, RBI controls, lending powers of banks, so loans becomes costlier, and money supply is controlled. 

Monetary policy always tries to create balance between growth and inflation. 

Hope you got to know basics of monetary policy. Please let me know and comment.

 

Ideas to Indian Education System

Indians are the people who are most concerned with the state of education of their child.  It starts with the birth of child. But to my dismay, the Indian child doesn't get their due from society in form of education.

May be some upcoming schools in the liberalized India at par with those of European Schools, but mos Indians have already loosen their Waterloo.

There are many commentaries on the state of education of India. But it is not clear who will get into this mud to clear this.

Parents and only parents can clear this mud first. It is not the work of minister, but the parents to facilitate education of their ward, not to hinder it. Parents try to suppress the creativity, and interest of their child in the names of fake grades. They try to suppress their art, literary and sports pursuits. By enhancing these tendencies, also in our society, there will be en-value of artists, historians, journalists who are currently diminished by engineers.

Colleges must be made interdisciplinary. It is the most disservice to keep Indian students away from their favorite subjects in the present education system.

Schools must have to take the role of community colleges in India. It would be single most work through which India can leapfrog to consummate position. These skills would go long to enhance the spirit of entrepreneurship among Indians. These skills can be anything from beautician to book writing, construction to Computers. This will also enhance the spirit of dignity of labor among Indians.