AIRTEL Delhi Half Marathon—IBS Noida Rocks

When was the last time that you along with your family went for a long walk in the early morning. On 9th Nov Delhi (25000 of them) were running in Airtel Delhi Half Marathon-2008. IBS Noida also took part in the event and we made our presence felt at a large scale. My congratulations to the organizers Sita Ram Gujjar and Suchi Kulshrestha along with Prof. H.V. Kothari & Ms. Tanuja Sharma (Faculty Coordinators) for putting their sencire efforts to make it successful.
67 Students from IBS Noida participated in the 7.5kms race and everyone completed it. Its nice to see everyone wearing a similar dress for the event and working like a team. It was a great fun and perfect Sunday for we all. A large section of celebrity were also present including Saif Ali Khan, Rahul Bose and Kareena Kapoor. We hope that next time also we will take part at larger scale and strength.
Happy running………..

Thanking You everyone........

Nandy, IBS Noida

RBI Tripal dose for the Baning System

In a welcome and much awaited move RBI has announced major rate cuts in SLR (banks are required to invest a portion of their deposits in government securities as a part of their statutory liquidity ratio (SLR)), CRR (Cash reserve ratio; percentage of amount that banks have to maintain with RBI in the form of cash) and Repo rate (Repurchase rate; rate at which banks borrow funds from the RBI to meet the gap between the demand they are facing for money (loans) and how much they have on hand to lend). SLR and CRR has been cut by 100basis points to 24% and 5.5% respectively where as repo rate by 50 basis points to 7.5%. These cuts will be applicable from the week ended 8th Nov 2008. Due to this cut Banking system will have additional 120,000 crores of additional liquidity to lend and hopefully it will help to reduce the liquidity crunch prevailing in the market. On Friday the call money rate was as high as 22% and this was one of the major reasons to ease the liquidity in the system with these rate cuts.

Micro Finance at the ground level

I was surprised to see a micro finance organization operating in a remote village like mine. And make my pleasure more many people are utilizing the money and in the process of their betterment. The Institute is offering finance @2.5 % per month that is far less that what villagers pay to the local moneylenders (usually 5-10% per month). The institute has made a group of 5 people (only married females are eligible) and everyone in the group is equally accountable for the carrying on the transactions. They are offering the finance in the range of 6,000 to 20,000 rupees must be payable within 50 weeks. And at the same time if a person carries it out for 150 weeks regularly then she is eligible for 50,000 of finance for 50 weeks period. I feel it’s a great initiative by the organization and I hope this will help the poor people of my village to come over the debt trap of local money lenders. All the best.