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Ahmedabad : IIM-A students are burning the midnight oil and cleaning their suits these days. And, with a good reason too. Their placements have suddenly shifted ahead of schedule.

First it was IIM-C and now IIM-A and IIM-B have followed suit. Placements are suddenly so much nearer for students of three premier B-schools. Advanced dates of final placements for batches passing out in 2009 with recession in backdrop has become a favourite topic for chatting among student community.

With many recruiters visiting all three IIM campuses, there is a race to grab attention at the earliest, with a hope to place as many students as possible.

IIM-C started with its final placement week from February 21. IIM-A has declared final placements commencing from February 25 and IIM-B will follow from February 27. In 2008, placement season was initiated by IIM-B on March 4, IIM-A following it on March 6 and finally IIM-C commencing from March 8.

Professor Saral Mukherjee, faculty in-charge of placement at IIM-A said, “All three institutes decide on placement dates independently. And, placement dates of three campuses keep on shuffling and there is no set pattern.”

However, a student on campus opined, “Advanced IIM-C placement dates became a topic of discussion on all campuses. Anything like this at this point in time becomes a matter of concern as the uncertainty rises. A number of recruiters go to all three campuses. If they feel students of IIM-C can be accepted for the same profiles at a lower salary, why wouldn’t they recruit them, leaving lesser opportunities for us.”

The decision of advancing placement dates for IIM-A also seems like a recent decision because official website of the institute still says that pre-processes by companies and final interviews will take place in March, 2009.

Professor Mukherjee added, “IIM-A has recruiters who come exclusively to this institute. There are recruiters who go to all three but they know the quality that IIM-A offers, so it won’t affect us.”

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Source:

http://timesofindia.indiatimes.com/Ahmedabad/IIMs-placements-to-take-place-early/articleshow/4171689.cms

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NEW DELHI: The US financial crisis

has hit the valuation of its banks. Citigroup

, one of the largest banks in the world, with assets worth $1.95 trillion or RS 9,72,075 crore, now values less than the State Bank of India (SBI), India’s largest bank.

n Monday, at the time this newspaper was going to press, the market capitalisation of Citigroup was Rs 57,328 crore as against Rs 66,449 crore of SBI (based on closing share price on Friday). The Indian stock market

was closed on Monday.

Citigroup is facing one of the worst crisis in its recent history. Its share price on Friday fell by 93% to $1.95 from a 52-week high of $27.35 on April 28, 2008. In 2007, the company’s share price had gone up to around $65. On Monday, it recovered marginally to quote at around $2.1 per share.

Share prices of other banks like Bank of America fell 94% to $2.53 on Friday, JP Morgan Chase by 65% to $17.70 and Goldman Sachs by 58% to $84.59% from their respective 52-week highs. In 2008, Citigroup suffered a loss of over Rs 80,000 crore. Against this, SBI earned a net profit of Rs 4,700 crore in April-December 2008 — first nine months of the current financial year.

Despite the fact that Citigroup’s tier-I capital adequacy ratio is at 11.9% of total performing assets, which is one of the best in the world, the bank is facing tough times due to its exposure to doubtful assets. US government is planning to hike stake in the bank to regain confidence of investors and customers. There are speculations that the bank might get nationalized.

US government had infused $45 billion in Citigroup under the troubled asset relief programme, besides extending $300 billion guarantee for assets. Against this, in the present financial crisis, SBI has emerged even stronger than earlier. Its deposits and assets base increased faster than that of the Indian banking industry.

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Source: http://timesofindia.indiatimes.com/Business/Now-SBI-more-valuable-than-Citibank/articleshow/4179797.cms

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KOLKATA: The economic crisis has taken its toll on campus recruitment

as well with the Indian Institute of Management, Calcutta (IIMC), finding wall street recruiters missing this year.

Sources in IIMC said the highest pay packet offering merchant bankers from the Wall Street were missing in this year of final recruitment season as most of the renowned companies were either out of business or in bad shape.

“However, we are expecting a few merchant bankers from India and other countries to recruit finance professionals from this campus,” the sources said.

IIMC categories companies depending on their salary offers and reputations and among that slot zero is treated as the most prestigious.

The recruitment began from Saturday and it will continue till February 24 and the second phase will resume from March 3 for two to three days. The recruitment date which has been preponed by two weeks has 265 students registered.

When asked for comments, IIMC officials said the details could only be provided after the campus recruitment process was over.

Sources said during the last three years, merchant bankers like Lehman Brothers and Merill Lynch were the most sought after companies for their highest pay packets.

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Source: http://economictimes.indiatimes.com/News/News-By-Industry/Jobs/IIM-C-misses-Wall-Street-recruiters-this-year/articleshow/4170601.cms