Ministry of Learning hosted a Major Minor Mela

The Major Minor Mela, held on November 16 and 17 November on campus, was a great success. Hosted by the Ministry of Learning in collaboration with some of the academic clubs and societies under SIAS, the event aimed to give first-year students a comprehensive and interactive introduction to the diverse academic disciplines available at SIAS. This year, the mela offered a fresh, engaging take on the usual introductory sessions.

Day 1 revolved around the disciplines of Humanities and Social Studies along with Literature and the Arts, while day two was dedicated to the Sciences. Each morning featured an Open House, where senior students delivered presentations detailing the discipline-wise requirements, ensuring first-years had a clear understanding of their academic options. The afternoons presented an interactive fair where students could visit different booths, chat with seniors and get a more personal feel for the disciplines they were interested in.

The event was well-attended, with many first-year students eager to learn and participate. Feedback from attendees highlighted the interactive and informative nature of the Mela, and these insights will be invaluable in making next year’s event even more impactful. 

3 money hacks to build your wealth by Neil Borate

Krea SIAS Finance Club Talk hosted a virtual talk titled, 3 money hacks to build your wealth by Neil Borate, Deputy Editor and Head, Personal Finance, Mint on 12 November, 2024. 

A seasoned financial journalist, Neil Borate currently leads the personal finance team at Mint, one of India’s leading business publications. With over ten years of experience in the finance industry, Neil has made significant contributions to financial literacy through his work with reputable platforms such as Value Research, RupeeIQ, and Paisabazaar. Specialising in mutual funds, insurance, and taxation, he has consistently provided insightful advice to help individuals navigate the complexities of personal finance. Neil’s dedication to empowering investors is evident in his co-authored book on the legendary investor Rakesh Jhunjhunwala, cementing his role as a thought leader.

Here are some key strategies Neil has shared for wealth building:

Hybrid Funds for Tax-Efficient Fixed Income

Hybrid funds combine equity and debt components, making them a versatile tool for investors seeking both growth and stability. Neil emphasised the importance of understanding their structure and optimising their use for tax efficiency.

Strategies:

  • Understanding hybrid fund structures: Grasp the mechanics of equity-debt allocations in hybrid funds
  • Tax implications: Learn how the equity and debt portions affect taxation, including the long-term capital gains (LTCG) tax benefits
  • Optimising investments: Strategies to choose the right hybrid funds based on investment goals and tax advantages
  • Real-world examples: Case studies that demonstrate successful tax-efficient hybrid fund strategies

The Swiss Army Knife strategy

This strategy is Neil’s approach to building a diversified portfolio that performs well in varied market conditions. It focuses on blending different asset classes, sectors and techniques to create a balanced, resilient investment portfolio.

Strategies:

  • Asset allocation: Techniques to distribute investments across asset classes for stability
  • Sector rotation: Tactics to shift investments between sectors based on market cycles
  • Risk management: Using hedging strategies to minimise downside risks
  • Portfolio rebalancing: Maintaining an optimal asset mix through periodic adjustments

Takeaways:

  • The critical role of diversification in reducing risks and enhancing returns
  • Identifying asset classes that provide balance and growth potential
  • Crafting a resilient portfolio framework to withstand market volatility
  • Real-world examples that highlight successful diversification strategies

Calculating Your FIRE Number
Financial Independence, Retire Early (FIRE) is a movement gaining traction among individuals aiming to achieve financial independence and retire at a younger age. Neil’s approach simplified the process of calculating your FIRE number and crafting a roadmap to reach it.

Strategies:

  • Define goals: Identify what financial independence and retirement mean for you
  • Assess requirements: Evaluate your current and future expenses and income needs
  • Calculate your FIRE number: Use various methods to estimate the corpus needed to sustain your lifestyle post-retirement
  • Develop strategies: Create actionable steps to achieve financial independence

Takeaways:

  • A deep understanding of the FIRE movement and its principles
  • Personalised approaches to determine your FIRE number based on unique financial goals
  • Comprehensive financial planning to align current resources with long-term aspirations
  • Tips to overcome common challenges in the journey toward financial independence

A report by Dhruvi Dombe, Integrated MBA Cohort of 2028, IFMR GSB

Inauguration of the 6th Batch of L&T Executive MBA at IFMR GSB, Krea University

Inauguration of the 6th Batch of L&T Executive MBA at IFMR GSB, Krea University

On 3 October 2024, the inauguration of the 6th batch of the Larsen & Toubro Limited (L&T) Executive MBA programme took place at IFMR GSB, Krea University, Sri City. The event was graced by L&T dignitaries and participants. Mr Ramanathan, Executive Director of Executive Education at IFMR GSB, Krea University, served as the master of ceremonies. He extended a warm welcome to the distinguished guests, including Mr R Ganesan, Ms Jayanthi Anilkumar, Ms Febin MF, Dean of IFMR GSB Professor Lakshmi Kumar, Executive MBA Programme Chairperson Professor N Chandrasekaran, the L&T MBA students, faculty and staff.

Dean Lakshmi Kumar delivered the welcome address, acknowledging the presence of the L&T dignitaries, Mr Ganesan and Ms Jayanthi. She expressed gratitude to Mr Raghavendran, who has been the Single Point of Contact (SPOC) for the programme for over a decade. Professor Lakshmi also highlighted the background of Krea University, emphasising the exceptional quality of education and the distinguished faculty at IFMR GSB.

Professor N Chandrasekaran, Chairperson of the Executive MBA Programme at IFMR GSB, Krea University, provided an overview of the course structure, discussing the core and elective courses. He emphasised the significance of the project component, encouraging participants to fully engage in this critical part of the programme.

Mr R Ganesan, Head of the Corporate Centre at L&T and the event’s Chief Guest, spoke about the evolving business landscape, driven by technology. He urged participants to not only excel in their technical domains but also to harness the power of data using AI tools. He outlined three key areas for success at L&T beyond technical competency: cost management, people management, and data mastery. He encouraged the cohort to take full advantage of the programme to fast-track projects, mitigate client challenges, and enhance client experiences. After his address, Mr Ganesan interacted with participants individually.

Guest of Honour Ms Jayanthi Anilkumar, Head of the Shared Services Centre at L&T, lauded L&T’s commitment to employee education. She humorously noted that the acronym L&T could also stand for Learning & Training, given the company’s investment in employee development. She commended participants for their dedication to balancing work and education, highlighting the importance of self-reflection and live project work during the programme. She also emphasised diversity goals and the possibility of expanding the programme in the future.

Mr Raghavendran, Head of the L&D Delivery Centre at L&T, shared the origins of the programme, recounting how the need for an MBA programme arose when a young deputy left to pursue further studies. This prompted discussions with Dr C Jaya Kumar, leading to the co-creation of the L&T-specific MBA programme with IFMR GSB, Krea University. Drawing from his own experience of studying at XLRI while working at L&T, he advised participants to network with their 37 fellow high-potential colleagues and to build strong relationships with their bosses and co-workers to manage the demands of the programme.

Mr Aswin Kumar, Head of Customer Interface at IFMR GSB, Krea University, concluded the event with a vote of thanks, expressing gratitude to the dignitaries, participants, and organisers for a successful inauguration.

Breaking the Mould – A Presentation by Dr Raghuram Rajan

Breaking the Mould – A Presentation by Dr Raghuram Rajan

On 30 September, 2024, Krea University hosted a thought-provoking talk by Dr Raghuram G Rajan, Former Governor of the Reserve Bank of India, Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business and Member of the Governing Council at Krea University. He discussed the future of India’s development, drawing from his book Breaking the Mould: Reimagining India’s Economic Future. Dr Rajan emphasised that India faces significant challenges, particularly in creating enough jobs and increasing female employment rates. He noted that the pandemic has worsened these issues, making it even more crucial for India to explore new, innovative pathways. Rather than fixating on one specific route, he argued that India must expand its options.

He challenged the traditional belief that manufacturing is the key to prosperity. While China has succeeded through manufacturing, India has developed a stronger service sector. He posed an important question: Is India prematurely de-industrialising, or is it playing to its strengths? He pointed out that many semi-skilled jobs, which are important to our day-to-day lives, like plumbing and repair, are found in the service industry and hence shouldn’t be seen as inferior to manufacturing.

He also highlighted the global challenges in low-skill manufacturing, noting fierce competition from countries like Vietnam and Mexico along with protectionist policies, and the increasing role of robotics. Dr Rajan used the “smile curve” to illustrate how value in production is now concentrated in research, development and marketing. Companies like Apple, which focus on intellectual property, capture most of the profits, leaving little room for those focused solely on manufacturing.

Dr Rajan repeatedly stressed that India doesn’t have to choose between manufacturing and services but should strive to excel in both. He cited examples like Tilfi, which rebranded traditional weaving, and Agnikul, a company innovating in rocket design, as successful models that combine services and manufacturing.

A particularly compelling point that Dr Rajan made was the need for India to focus on developing intellectual capital rather than just industries. He argued that while building industries is important, nurturing minds and fostering innovation are the true engines of future growth. By investing in education research, and creativity, India can position itself as a leader in high-value services. Dr Rajan suggested that India prioritise the development of intellectuals — those who can drive innovation and design the products of tomorrow — rather than focusing solely on physical industries.

A report by Pranvi Khare, Cohort of 2026, SIAS

The Art Exhibition: A reflection

The Psychology Society of Krea organised an art exhibition on 11 September, 2024 in recognition of World Suicide Prevention Day. This event aimed to foster open conversations about mental health using the transformative power of art. The exhibition showcased an array of powerful pieces created by the Krea community.

The artwork, which spanned various mediums, explored a wide range of themes, including hope, resilience, belonging, and solitude. Each piece told a unique story, allowing viewers to connect with the hidden emotional battles individuals face daily. The art was raw and authentic, bringing to light the silent struggles of mental health while offering messages of strength and recovery.

A particularly moving aspect of the exhibition was the interactive installations. Visitors were invited to engage with the exhibits in many ways, such as by sharing what they felt or an installation where they could pick up a card based on what they needed.

This ability to interact with the exhibition added a layer of support, reminding attendees that no one has to face their struggles alone. Through art, poetry, and interaction, the exhibition succeeded in both raising awareness about mental health and reducing the stigma surrounding suicide. It was a powerful reminder of the importance of compassion and the strength found in vulnerability.

Report by Pranvi Khare, Cohort of 2027, SIAS

A Display with a Purpose

A student collective organised a series of educational and awareness-raising events centered on some of the world’s most pressing humanitarian and political crises. As part of this initiative, on 24 August, 2024 they hosted an exhibition dedicated to highlighting the situations in Palestine, Congo, and Sudan on the Sri City campus.

The exhibition was thoughtfully designed, with three rooms dedicated to exploring the many facets of these three crises, including their impact on human life, education, the environment, and more. Each room offered perspective through art (music, visual art, poetry, etc), photography and facts on one crisis (Sudan, Congo and Palestine), encouraging visitors to delve deeper into the complexities of these issues.

As someone who interacted with the exhibit, I was deeply moved. The exhibition forced me to question how we prioritise certain global issues over others, and what drives those decisions. It was a powerful reminder of the importance of staying connected to the world beyond our immediate surroundings, as we often live in a bubble that can obscure our understanding of global realities. Staying in a bubble makes it all the more crucial to stay informed and engaged with the world around us.

The exhibit did an exceptional job of breaking through that bubble, sparking conversations that were both meaningful and necessary. The student collective hopes that the student body continues to engage with humanitarian crises both in our country and globally, and hopes that students keep having discussions and find ways to help

Here are some links that they would like the student body to engage with regarding these three particular crises. 

(Reported by Pranvi Khare, Cohort of 2027, SIAS)

Dr V Anantha Nageswaran, Chief Economic Advisor to the Government of India, Delivered a Lecture on India’s Development Paradigm till 2047: Opportunities and Challenges

On 13 August, 2024, we had the privilege of listening to Dr V Anantha Nageswaran, Chief Economic Advisor to the Government of India, deliver a lecture on the topic India’s Development Paradigm till 2047: Opportunities and Challenges. Dr Nageswaran discussed key aspects of the economic survey that were reflected in the budget, highlighting the opportunities ahead and the challenges we may encounter. He also elaborated on the direction of India’s economic path and the factors shaping it.

A central theme of the discussion was the importance of considering India’s economic events within a global context. Dr Nageswaran emphasised this point, stating, “So, for example, when you hear complaints about India’s trade policies, you must place them in the context of the global numbers of protective measures taken by different countries over the years.” Dr Nageswaran also addressed other critical topics such as geopolitics, climate change, and the energy transition, both in Indian and international contexts, as essential factors in shaping India’s growth over the next few decades.

The talk delved into the current state of the Indian economy, the reasoning behind recent decisions, and the opportunities and challenges that lie ahead, along with possible solutions. Dr Nageswaran also explained the rationale behind budgetary choices, noting, for instance, “So there is much more to be done in terms of skilling, and that is why this year’s budget created incentives for skilling.” The talk provided valuable insights into India’s development path and was an immensely enlightening experience.

(Reported by Pranvi Khare, Cohort of 2027, SIAS)

Krea University Hosts Book Launch and Talk by Former Chief Economic Adviser on India’s Economic Future

Krea University Hosts Book Launch and Talk by Former Chief Economic Adviser on India’s Economic Future

Krea University presented India@100: Envisioning Tomorrow’s Economic Powerhouse – a book launch and talk by Professor Krishnamurthy V Subramanian, Executive Director, International Monetary Fund (IMF) and Professor of Finance (on leave), Indian School of Business (ISB) on 9 August, 2024 at Krea University, Sri City campus.

The event featured the launch of the book India@100: Envisioning Tomorrow’s Economic Powerhouse by Professor Krishnamurthy V Subramanian.

Carolynn Kurien, a second-year BBA student at IFMR GSB (Graduate School of Business) and Sneha Sucharita Palei, a third-year BA student (Economics major) at SIAS (School of Interwoven Arts and Sciences) welcomed Professor Subramanian. The event commenced with an address by Professor S Sivakumar, Dean, Research and Professor of Physics, SIAS, Krea University. Professor Subramanian presented copies of his book to distinguished guests, including Dr Suchika Chopra, Assistant Professor of Economics, SIAS, Krea University; Dr Rohan Gudibande, Assistant Professor, SIAS, Krea University; Dr Soumya Pal, Assistant Professor, IFMR GSB, Krea University; Satish Kamat, President, Sri City Operations and to the Krea University library. 

All About Economy
The session that followed delved into the pivotal themes of the book, highlighting the transformative opportunities that await India and the essential reforms needed to realise the vision of a $55 trillion economy by 2047.

The book, underpinned by thorough research and insightful analysis, identified four critical pillars for India’s growth: the macroeconomic emphasis on growth, strategies to sustain and accelerate economic growth; the microeconomic focus on social and economic inclusion, policies to ensure equitable growth; the vision of ethical wealth creation, encouraging wealth creation that aligns with ethical principles; and the strategy of a virtuous cycle triggered by investment, leveraging investments to create a self-sustaining growth cycle.

Of Inputs and Insights
The author presented a once-in-several-centuries opportunity for India to emerge as a global economic powerhouse. His talk provided students with a broader understanding of the Indian economy by offering key analyses comparing India with other global economic powerhouses, and highlighting how India could become one of the top destinations for career growth in the future.

Professor Subramanian remarked, “India is the place to be in the next two and a half decades,” explaining how India’s GDP is doubling every six years and how this growth can significantly impact the nation’s economy and the financial prospects of every Indian citizen aspiring to achieve their goals.

The session concluded with a Q&A segment moderated by Dr Soumya Pal, Assistant Professor of Economics, IFMR GSB, Krea University, which provided students the opportunity to engage directly with Professor Subramanian, followed by a book signing.

About the Speaker
Professor Krishnamurthy V Subramanian served as the 17th Chief Economic Adviser (CEA) to the Government of India from 2018 to 2021. Appointed as the youngest CEA, Professor Subramanian’s foresight and strategic vision helped the Indian economy achieve significant growth and robust macroeconomic fundamentals despite global challenges like the Covid-19 pandemic and the Ukraine War. His remarkable contributions were acknowledged by the Hon’ble Prime Minister Shri Narendra Modi, who praised his “academic brilliance, unique perspectives on economic and policy matters, and reformatory zeal.”

An alumnus of IIT Kanpur and IIM Calcutta, Professor Subramanian has been honoured with the Distinguished Alumnus Award from both institutions. He holds a PhD from the University of Chicago, and his research in banking, law and finance, innovation and economic growth, and corporate governance has been published in leading global journals.

IFMR GSB at Krea University welcomes incoming MBA cohort at Prarambh 2024

IFMR GSB at Krea University welcomes incoming MBA cohort at Prarambh 2024

03 July, 2024, Sri City

IFMR Graduate School of Business (GSB), Krea University welcomed the new cohort of MBA students with Prarambh – the orientation programme slated from 3 – 7 July. The session is packed with engaging sessions from leadership, faculty, staff, and students.

Prarambh 2024 witnessed the Krea community extending a warm welcome to the incoming cohort, both academically and socially. The incoming class comprises 250+ students from 22 states across the country who have been through a holistic admission process which evaluates applicants with tailor made rounds catering to diverse aspirants.

Speaking to the students at the inaugural ceremony, Chief Guest Divakar Jain; Leader, Risk & Financial Advisory at Deloitte, US-India Office shared insights from his two decades long journey across the professional spectrum and the lessons he gathered along the way. He emphasised how important agility is in today’s world and the need to constantly unlearn and learn something new.

He imparted the mantra of three Cs to the eager students, “Courage, creativity and communication – have the courage to speak up and say the right thing, be creative enough amid the advancement of technology and communicate truthfully and directly.”

In her welcome address, Professor Lakshmi Kumar, Dean, IFMR GSB, Krea University said, “You may think you prefer a core area but may find something more interesting and relevant. Rethink your choices in the first year, and our competent faculty will guide you through the process. We aren’t shy to say, we are a professional programme where we teach you knowledge and skills which make you employable.”

Image Courtesy : Shutterbugs

In her address, Professor Madhuri Saripalle, Chairperson, MBA Programme, IFMR GSB, Krea University added, “Welcome to the beginning of a remarkable journey. We are going to give you the hard wiring, and you have to ultimately connect them. We will provide you the interdisciplinary curriculum to equip you with a wide range of skills and knowledge.”

Remembering Shri N Vaghul: A Visionary Leader in Indian Banking, Education, and Philanthropy

With heavy hearts, we announce the passing of N Vaghul, the former Chairman of ICICI Bank Limited, a revered figure in Indian banking, and a beacon of philanthropy. Mr Vaghul passed away on 18 May 2024, leaving behind a remarkable legacy of innovation, leadership, and compassion.

Narayanan Vaghul, fondly known as N Vaghul, played a pivotal role in shaping Indian finance and business. Known as the Bhishma Pitamah of Indian banking, his contributions are unmatched, having founded ICICI Securities and CRISIL, revolutionising investment banking and credit rating in India.

Beyond finance, Mr Vaghul was deeply committed to education and social development. For nearly three decades, he served as the Chairman of the Board of Governors of IFMR (Institute for Financial Management and Research), where he spearheaded initiatives aimed at advancing economic and social research. Mr Vaghul led IFMR through many major initiatives including setting up of Academy for Management Excellence (ACME), as a division of IFMR in collaboration with University of Michigan under the leadership of Dr C K Prahalad, the well-known management guru, bringing global management practices to the Indian landscape, right at the start of the era of liberalisation and globalisation in the Indian economy.

Another initiative at IFMR under Mr Vaghul’s direction, was the tie up with British Open University, the pioneer institution in distance learning which exposed middle and senior managers to obtaining management lessons while working, something novel to the Indian learning system then.

Under his leadership, IFMR  also set up an entry level business school that has grown to become one of the leading B-Schools in India, IFMR GSB (Graduate School of Business) right now in its 24th year of knowledge dissemination. Mr Vaghul also initiated the setting up of several research centers with the support of  ICICI Bank , and along with Dr Nachiket Mor, focused on inclusive growth-micro finance, development finance, small enterprise finance, insurance etc, with a number of internationally well-known academicians such as Dr Abhijit Banerjee as principal investigators. 

Mr Vaghul was instrumental in the establishment of Krea University, a pioneering institution dedicated to liberal arts and interdisciplinary education. In his role as the inaugural Chancellor, he laid the foundation for Krea’s distinctive approach to learning, which integrates multiple disciplines, perspectives, and methodologies to nurture well-rounded individuals equipped to address complex global challenges. He also served as a Governing Council Member since its very inception and, more recently as member of the Advisory Group of Krea University, providing invaluable guidance and strategic direction to the institution.

In the words of Mr Lakshmi Narayanan, Chancellor, Krea University, “N Vaghul’s visionary leadership and unwavering commitment to education have been instrumental in shaping the ethos of Krea University. His legacy will continue to inspire generations of students, faculty, and staff as we strive to uphold his values and principles. By giving is how we would like to celebrate his life.”

Throughout his illustrious career, Mr Vaghul garnered numerous accolades and honours, including the Padma Bhushan, Businessman of the Year by Business India, Lifetime Achievement Awards from the Economic Times, the Ernst & Young Entrepreneur of the Year Award Program, and the Bombay Management Association.

Mr Vaghul’s impact extended beyond boardrooms and financial markets. He served as a director on the boards of major Indian corporations, including Wipro, Mahindra & Mahindra, Apollo Hospitals, and Mittal Steel. His commitment to philanthropy was exemplary, evident through his chairmanship of Give India, an online platform dedicated to fostering charitable giving. In 2012, he was honoured with the Corporate Catalyst — Forbes Philanthropy Award for his tireless efforts in advancing philanthropic causes. In 2023, the banking veteran turned author, penning down his rich experiences spanning several decades in the industry into his book ‘Reflections’.

The Krea community deeply feels the loss of N Vaghul. His exceptional wisdom, unwavering integrity, and relentless dedication to societal advancement have left an enduring impact, resonating closely with the values cherished at Krea. As we honour his life and contributions, we draw comfort in knowing that his remarkable legacy will continue to inspire and guide present and future generations of Krea students and leaders.

Our thoughts and prayers are with Mr Vaghul’s family, friends, and colleagues during this difficult time.