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Yes Bank shares fall 60%, crisis intensifies risk-off mood fuelled by coronavirus spread - business news

Shares in India’s fourth-largest private lender Yes Bank plunged close to 60 per cent on Friday after the central bank seized control and imposed withdrawal limits. At 12:30 pm, the price was Rs 15.15 per share. Queues formed outside Yes Bank branches after the announcement late on Thursday that customers can only withdraw Rs 50,000. The country has been grappling with a liquidity crunch caused by the near-collapse more than a year ago of IL&FS - finance houses responsible for significant consumer lending. Yes Bank has been particularly badly hit as it struggles under a mountain of bad loans. Watch | Yes Bank crisis explained: RBI caps withdrawal at ₹50,000, people queue up outside ATMs   The rupee weakened to its lowest since 2018 and stocks tumbled after the RBI move, intensifying the risk-off mood fuelled by the spread of coronavirus cases. “Investors have turned risk averse and the contagion is likely to hit smaller bank and non-bank finance companies,” said Abhimanyu Sofat, Mumbai-based head of research at IIFL Securities Ltd. “How soon the RBI finalises the rescue plan is key as persistent operational curbs increase uncertainty.” The central bank imposed a moratorium on the private lender till April 3, 2020 and named State Bank of India (SBI) to lead a consortium to pull Yes Bank out of crisis. The SBI board has given an “in-principle” approval to invest in the capital-starved bank. Former finance minister and Congress leader P Chidambaram on Friday termed Yes Bank crisis as a completely “regulatory failure” and said there is no need to panic as the Reserve Bank of India (RBI) placed restrictions on the bank. “Let’s see what depositors of Yes Bank do. I think they are as worried as depositors of PMC Bank. Let’s see what unfolds now. Obviously, there is no need to panic,” he said. During the period of moratorium, the Yes Bank Limited shall not, without the permission in writing of the Reserve Bank of India, make, in the aggregate, payment to a depositor of a sum exceeding Rs. 50,000 lying to his credit, in any savings, current or any other deposit account. Read the full article

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6 BEST B-SCHOOL COMPETITIONS – FOR EVERY MBA STUDENT

The peer-learning, competition with B-schoolers across India, innovation, exposure, not to mention the tremendous value you add to your CV – B-School competitions are invaluable.

You never come out of a B-School competition, at the same level you entered it!

Here’s a list of competitions that every B-Schooler must be aware of – and participate in at least one! (In alphabetic order)

1. FLIP National Challenge:

FLIP National Challenge (FNC) is unarguably the largest Finance contest in India, for B-Schoolers aspiring to a career in financial risk management course. During FLIP National Challenge, thousands of finance aspirants compete for the highest score in select FLIP Certifications. So, apart from getting a CV boosting risk management certification, they also get to benchmark themselves against an all India pool.

12,000+ premier B-School students have participated in the FNC till date – with the season 7 (2016) alone witnessing 2,200+ enrolments from premier B-schools.

While 2016 Final Year winners landed 6 PPOs & 30 PPIs for prestigious roles in Reliance Industries Limited (Treasury) and HDFC Bank (Corporate Banking), the first-year students landed 6 direct internships at IIFL, IDBI Capital, Contrarian Capital and India Quotient. Winners also grabbed ₹ 4.2 lakhs in cash prizes.

The one thing which a stand out about the Challenge is, unlike the other contests, here everyone who enrols, can earn a FLIP Certification, which really helps in Internships and Placements. So, the ROI works for everyone – you don’t slog for nothing.

Enrolments for FNC typically begin in the first week of August and stay open for 30 days. Keep yourself updated on the Flip National Challenge 2017 (S8).

Eligibility: Full-Time MBA/PGDM students (1st & 2nd Year). Typically those looking for a career (whether marketing or finance) in the Financial Services industry. Open to all B-Schoolers, but for the last 7 years, 90% + enrollments are from the top 30 B Schools.

2. L.I.M.E:

Launched in 2010, HUL’s L.I.M.E. (Lessons in Marketing Excellence) is one of the most prestigious and hard-fought competitions for B-Schoolers aspiring to a career in Sales & Marketing. Every year, marketing students from Top 12 B-Schools (IIM-A, IIM-B, IIM-C, IIM-L, IIM-I, IIM-K, FMS-Delhi, XLRI-Jamshedpur, ISB-Hyderabad, SPJIMR-Mumbai, NITIE-Mumbai and JBIMS-Mumbai) take part in the marketing case study competition with the last season of L.I.M.E. revolving around the theme “Changing Face of Business”.

Through various levels of campus rounds, jury evaluation, semi-final and grand finale – the competition span a period of 6 months.

Students beyond the Top 12 B-Schools have the provision of taking up a special challenge through a Wild Card Entry and directly enter the show at the semi-final level.

Eligibility: Only students from Top 12 B-Schools (rest through wild card entry)

Website: http://limeonline.org/

3. Mahindra War Room:

The Mahindra War Room, first commissioned in 2007, is one of the top Case Study competitions for premier B-Schoolers. Students are required to form 4 member teams, select a caselet from a given set of business scenarios and submit their thought through and researched solution for it. 

The teams that make it through the primary jury are flown down to Mumbai for the Grand Finale! They present their case to Mr. Anand Mahindra and the top management at the Mahindra Group. Winner & Runner Up teams win Cash Prizes and PPIs with the Mahindra Group.

Eligibility: The competition is restricted to full-time MBA/PGP students, of any specialization, in a set of 21 top colleges listed.

4. YES Bank Transformation Series:

The inaugural edition of YES Bank’s Transformation series Case Study challenge was hosted in 2010 and had 1500 participants. Since then, the competition has seen a steady increase in participation. The theme for the 2016 edition was ‘Creating impact through Disruptive Innovation’.

Similar to Mahindra War Room, students form teams of three and solve a case study stemming from the theme. The best 15 teams are then brought in to the Grand Finale in Mumbai. The top 3 teams go onto win PPIs with YES Bank & cash prizes. Campus round winners also bag some attractive cash prizes.

Eligibility: Full-time students from a recognized university. (The website doesn’t mention any restrictions on the stream of education)

[gloriouskryptonitefest-blog]

Best B-School competitions – for every MBA student

The peer-learning, competition with B-schoolers across India, innovation, exposure, not to mention the tremendous value you add to your CV – B-School competitions are invaluable.

You never come out of a B-School competition; at the same level you entered it!

Here’s a list of competitions that every B-Schooler must be aware of – and participate in at least one! (In alphabetic order)

1. FLIP National Challenge:

FLIP National Challenge (FNC) is unarguably the largest Finance contest in India, for B-Schoolers aspiring to a career in financial services. During FLIP National Challenge, thousands of finance aspirants compete for the highest score certificate courses in finance in FLIP. So, apart from getting a CV boosting FLIP Certification, they also get to benchmark themselves against an all India pool.

While 2016 Final Year winners landed 6 PPOs & 30 PPIs for prestigious roles in Reliance Industries Limited (Treasury) and HDFC Bank (Corporate Banking), the first-year students landed 6 direct internships at IIFL, IDBI Capital, Contrarian Capital and India Quotient. Winners also grabbed ₹ 4.2 lakhs in cash prizes.

The one thing which stands out about the Challenge is, unlike the other contests, here everyone who enrolls, can earn a FLIP banking and finance courses, which really helps in Internships and Placements. So, the ROI works for everyone – you don’t slog for nothing.

Enrollments for FNC typically begin in the first week of August and stay open for 30 days. Keep yourself updated on the Flip National Challenge 2017 (S8) here.

Eligibility: Full-Time MBA/PGDM students (1st & 2nd Year). Typically those looking for a career (whether marketing or finance) in the Financial Services industry. Open to all B-Schoolers, but for the last 7 years, 90% + enrollments are from the top 30 B Schools.

2. L.I.M.E:

Launched in 2010, HUL’s L.I.M.E. (Lessons in Marketing Excellence) is one of the most prestigious and hard-fought competitions for B-Schoolers aspiring to a career in Sales & Marketing. Every year, marketing students from Top 12 B-Schools (IIM-A, IIM-B, IIM-C, IIM-L, IIM-I, IIM-K, FMS-Delhi, XLRI-Jamshedpur, ISB-Hyderabad, SPJIMR-Mumbai, NITIE-Mumbai and JBIMS-Mumbai) take part in the marketing case study competition with the last season of L.I.M.E. revolving around the theme “Changing Face of Business”.

Through various levels of campus rounds, jury evaluation, semi-final and grand finale – the competition span a period of 6 months.

Students beyond the Top 12 B-Schools have the provision of taking up a special challenge through a Wild Card Entry and directly enter the show at the semi-final level.

3. Mahindra War Room:

The Mahindra War Room, first commissioned in 2007, is one of the top Case Study competitions for premier B-Schoolers. Students are required to form 4 member teams, select a caselet from a given set of business scenarios and submit their thought through and researched solution for it. 

The teams that make it through the primary jury, are flown down to Mumbai for the Grand Finale! They present their case to Mr. Anand Mahindra and the top management at the Mahindra Group. Winner & Runner Up teams win Cash Prizes and PPIs with the Mahindra Group.

4. YES Bank Transformation Series:

The inaugural edition of YES Bank’s Transformation series Case Study challenge, was hosted in 2010 and had 1500 participants. Since then, the competition has seen a steady increase in participation. The theme for the 2016 edition was ‘Creating impact through Disruptive Innovation’.

Similar to Mahindra War Room, students form teams of three and solve a case study stemming from the theme. The best 15 teams are then brought in to the Grand Finale in Mumbai. The top 3 teams go onto win PPIs with YES Bank & cash prizes. Campus round winners also bag some attractive cash prizes.

Eligibility: Full-time students from a recognized university. (The website doesn’t mention any restrictions on the stream of education)

5 & 6. Airtel iCreate & Marico’s Over the Wall – 

are other popular B-School case study competitions aimed at getting the brightest minds in the country, to work towards unconventional and innovative solutions for challenging business problems.

Entries for the both the competitions are restricted to a specific set of colleges. Check the list here: (Eligible Colleges – Airtel iCreate | Eligible Colleges – Marico Over the Wall)

Airtel iCreate has a provision for wild card entries from colleges beyond the above list.

PPIs & Cash Prizes – winners take away for both these competitions.