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Managing Growth and Inflation is the Biggest Challenge: Ex-ED, RBI

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Former ED of Reserve Bank of India (RBI) G. Mahalingam addressed the students of Great Lakes Institute of Management. It is a premier B School in India in its 7th Annual Great Lakes – Union Bank Finance.

G Mahalingam was outlining the effects of global financial crisis after 2009. He spoke about the various dilemmas faced by the emerging market economies, “Managing growth and inflation has been the biggest challenge to the central banks of all the emerging markets; not to forget the over-valuation and under-valuation of currency adding to the task.

Mr. Mahalingam pointed out that the question ‘why common people still choose Bank fixed deposits over bonds’ which have excellent liquidity has still no definite answer. He suggested that experts should create more awareness in this area.

Great Lakes Founder, Dean and Chairman Dr. Bala V Balachandran said that the finance conference this year was aimed at bringing together some of the best minds from policy making, mutual funds and industry. This was to help the students analyze, debate and discuss the effective policy making process to aid wealth maximization of a larger section of the society.

Growth and Inflation

Start Saving Early

Kalpen Parekh, Joint President, DSP BlackRock MF advised the students on the importance of starting to save early. Parekh asserted, “The narrative today is to show the consumers high returns and lure them into unwanted investment plans. This is partly consumers’ fault too as people are unwilling to take calculated risks. Also, small capital and a long tenure never hurts.

‘Make equities work for the commoner’

On the other hand, Mr. Nitesh Ranjan, Chief Investor Relations Officer, Union Bank of India emphasised on making equities work for the commoner. “Even today, a local Bank, real estate agent or a gold jewelry shop are more accessible than an equities expert. The sheer number of choices alone when it comes to equities can startle a commoner and this is where experts should focus on creating awareness,” he said.

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Government Approaches IITs, IIMs For Accreditation Process

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The Central Government might rope in private agencies for accreditation of educational institutes.

The Central Government might rope in private agencies for accreditation of educational institutes. The Union Minister for HRD, Prakash Javadekar said on Friday that the government had approached IITs and IIMs too in this regard. The Union HRD Minister had earlier also announced that more agencies will be roped in to speed up the assessment and accreditation process for Higher Education Institutes.

“To improve the quality of education, we are making the accreditation process more scientific and tough. The government wants to increase the strength of the National Board of Accreditation and the National Assessment and Accreditation Council so that more number of institutions can be accredited,” Javadekar said during the national conference on “Positioning India on the Global Education Map”.

Citing that ranking and rating of educational institutes, increases competitiveness, Javadekar said that this inspires institutes to invent ways to improve overall performance of the institute.

“Today, because of the National Institutional Ranking Framework, every institute has constituted an internal committee to improve their ranking. Students also take into account the institution’s ranking before taking admission,” he added.

READ MORE: Government Open To ‘Outside’ Agencies Taking Up Accreditation Of Institutions: Javadekar

He also said that graded autonomy will boost quality of education being imparted at Higher Education Institutes. With graded autonomy, institutes will remain under the aegis of UGC and still be free to design and offer new courses, off campus centers, skill development courses, research parks and any other new academic programmes.

“They will also have the freedom to hire foreign faculty, enroll foreign students, give incentive-based emoluments to the faculty, enter academic collaborations and run open distance learning programmes,” he added.

The bid to induct more accreditation agencies is not new. In August this year, UGC had notified University Grants Commission (Recognition and Monitoring of Assessment & Accreditation Agencies) Regulations, 2018 and had announced setting up of an Accreditation Advisory Council (AAC) for recognition of Assessment and Accrediting Agencies (AAAs).

(SOURCE NDTV)

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Government Open To ‘Outside’ Agencies Taking Up Accreditation Of Institutions: Javadekar

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The government is open to the idea of roping in “outside” agencies for accreditation of educational institutions, and IITs and IIMs have also been approached in this regard, Union HRD Minister Prakash Javadekar said.

The government is open to the idea of roping in “outside” agencies for accreditation of educational institutions, and IITs and IIMs have also been approached in this regard, Union HRD Minister Prakash Javadekar said here on Friday. “To improve the quality of education, we are making the accreditation process more scientific and tough.

The government wants to increase the strength of the National Board of Accreditation and the National Assessment and Accreditation Council so that more number of institutions can be accredited,” Javadekar said during the national conference on “Positioning India on the Global Education Map”.

“The government is open to other agencies taking the responsibility of accreditation, and IITs and IIMs have been asked about it … so that more and more institutions can be accredited,” he added.

READ MORE :Government Approaches IITs, IIMs For Accreditation Process

The Union minister said that ranking and rating of education institutions increase competitiveness among them for better performance.

“Today, because of the National Institutional Ranking Framework, every institute has constituted an internal committee to improve their ranking. Students also take into account the institution’s ranking before taking admission,” he said.

“Graded autonomy is another major step by the government to boost quality education in the country. Universities will remain within the ambit of the UGC but will have the freedom to start new courses, off campus centers, skill development courses, research parks and any other new academic programmes.

“They will also have the freedom to hire foreign faculty, enroll foreign students, give incentive-based emoluments to the faculty, enter academic collaborations and run open distance learning programmes,” he added.

(SOURCE NDTV)

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Centre Releases Rs. 260 Crore For Five New Medical Colleges In Jammu And Kashmir

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He said with the completion of the new medical colleges, 500 MBBS students would be annually added to the overall capacity of the course in the state.

The Centre Wednesday released Rs. 260 crore to the Jammu and Kashmir Health and Medical Education department for five new medical colleges being set up in as many districts of the state. With the latest release of funds by the Centre, the cumulative release of central share for these colleges at Anantnag, Baramulla, Doda, Kathua and Rajouri, till date has reached Rs. 765 crore, Principal Secretary, Health and Medical Education, Atal Dulloo said.

READ MORE : 5 New Medical Colleges To Be Functional By 2019: JK Governor

He said the Union ministry of Health and Family Welfare has sanctioned five new medical colleges in the sate at a cost of Rs. 189 crore each — out of which Rs. 139 crore is for civil works and Rs. 50 crore for machinery and equipment. The civil works in all these medical colleges are at different levels of progress and have been expedited of late to put the requisite infrastructure in place at the earliest, he said.

Mr. Dulloo said the department has initiated steps to provide infrastructure, equipment and human resource in these colleges as per the Medical Council of India (MCI) guidelines to start the first batch of MBBS admissions next year.

He said with the completion of the new medical colleges, 500 MBBS students would be annually added to the overall capacity of the course in the state.

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