Monthly Archives: December 2016

Is it easy for India to become a cashless economy?

Cashless economy has become a buzzword after the Modi’s Government announcement of demonetization exercise on Nov. 8th to curb black money from Indian economy.

Cashless doesn’t mean ‘without cash economy’ rather it means least or less cash into economy. It is a step towards the digital economy because it ensures that the digital fingerprints of all the transactions are available.

India has one of the highest ratios of cash to GDP in the world. Last year, 78% of all consumers’ payments in India were made by cash, whereas in the developed world like US /UK, only 20 to 25 % payments were made that way. According to a 2014 study by Tufts University, The cash operations cost of the Reserve Bank of India (RBI) and commercial banks is about Rs. 21, 000 crore annually. Cash economy facilitates the black money, fake money, money laundering, drug trading, tax evasion, no transparency, corruption, etc. Certainly, cash economy has its benefits such as it empowers unbanked families, easy transaction, acts as a store of value, no transaction fee, and no records of big data and provides safety from hackers and online transacting companies. In the present era, the benefits are losing relevance and cashless is a way for honest, transparent, safe and secure society. In such scenario cashless economy is a boon for Indian economy. Continue reading

What will make a Successful MBA?

In the build up to admissions for various management programs, it is an opportune time to reflect on who the management institutions are looking for to join us next year. Every university/institution is extremely proud of its students and look for a few distinctive traits that are common to all individuals within the MBA cohort.

Intellectual ability and a good academic track record are essential, of course, but as the institutions select the Class of 2017, there are three attributes that the Admissions Committee look for when selecting candidates for the MBA.

 Leadership

First and foremost, the institutions look for candidates who exhibit strong leadership potential throughout their academic and professional experience. This can take many forms: being selected for a leadership program at work (for the candidates who have work experience), launching a new business venture, captaining a sports team or leading a voluntary project – anything which demonstrates your ability to lead, inspire and motivate others. MBAs have the leadership potential not just to succeed in business, but to create new opportunities and be trailblazers for others. Today management institutions want candidates with the drive and ambition to change the world for the better. Continue reading