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<ul><li>The global oil price crashing to a new low has cost Indian fresh graduates their jobs. </li><li>Energy major <keyword id="161205" type="COMPANY" weightage="20" keywordseo="Schlumberger">Schlumberger</keyword> revoked the job offers extended to the Indian Institute of Technology (<keyword id="6354859" type="UNKNOWN" weightage="20" keywordseo="IIt">IIT</keyword>) graduates. </li><li>Two of the selected graduates from IIT Kanpur and Madras have now been offered a similar role — but at a lower salary. </li><li>The oilfield services multinational said that it is adjusting to the ‘sudden reduction in consumer spending’. </li><li>This comes after the company announced its first quarter results for FY21 and said that it expects at least a 15% drop in customer expenditure globally. </li></ul>The global <a href="https://www.businessinsider.in/business/news/crude-oil-prices-didnt-fall-below-zero-futures-did-and-heres-what-it-means/articleshow/75264639.cms">oil price crashing</a> to a new low has cost Indian graduates their jobs. Impacted by the decline in oil demand due to <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> lockdown, energy major Schlumberger revoked job offers extended to the Indian Institute of Technology (IIT) graduates. The oilfield services multinational said that it is adjusting to the ‘sudden reduction in consumer spending’. The company had given job offers to candidates at least five IITs. On April 6, Schlumberger told IITs that it will reduce the intake of new campus hires, withdrawing a few internships and job offers. “We will personally communicate our decision to each student who is affected by this decision,” Indian Express <a href="https://indianexpress.com/article/education/energy-major-schlumberger-withdraws-job-offers-to-fresh-iit-graduates-6373375/">reported</a> citing the letter by Gautam Reddy, MD, India and Bangladesh at Schlumberger. IIT graduates bagged ‘above-average salary packages’ this placement season According to the report, two students at IIT Delhi and Bombay have lost their jobs at Schlumberger. While two other selected graduates from IIT Kanpur and Madras have now been offered similar roles — but at lower salaries. Given the current situation, it does not help that most of the IIT graduates bagged ‘above-average salary packages’ this placement season. IIT Kharagpur students also bagged a few offers from Schlumberger. “As on date, none of the offers were revoked. That was a generic email. We haven’t heard back from them,” Parag Deshpande, vice-chairperson, CDC at IIT-Kharagpur said. “As of now we have withdrawn the offers. If the business climate changes, we will be the first to reach out to those who have been filtered through the whole recruitment process,” Reddy added. ‘We have to take care of our employees first’ Reddy also <a href="https://indianexpress.com/article/education/energy-major-schlumberger-withdraws-job-offers-to-fresh-iit-graduates-6373375/">said</a> that employees across the top management have already taken a pay cut due to the Covid-19 crisis. “We have a longstanding relationship with the IITs. I am from IIT-Bombay. Recruiting from IITs is a continuous process for us. At this point in time, when we are doing business restructuring, it’s just not fair to our current employees. We have to take care of them first. It’s as simple as this.” During the <a href="https://seekingalpha.com/article/4338898-schlumberger-earnings-expected-trouble-may-still-be-afoot">first quarter results for FY21</a> the company said that it expects at least a 15% drop in customer expenditure globally and 40% in North America. It clearly indicates how disruption in supply chain, plant shutdowns and dropping revenues forced companies to rethink placements. Gartner rescinds 11 offers at three IITs With this, Schlumberger joins Gartner, the global research advisory firm to withdraw offers given to new hires. Gartner rescinded nearly 11 offers at IIT Delhi, Madras and Kanpur campuses last month. After that, V Ramgopal Rao, director at the Indian Institute of Technology (IIT) Delhi <a href="https://www.businessinsider.in/careers/news/iit-and-iim-job-offers-are-fast-vanishing-and-a-second-placement-drive-in-july-might-be-underway/articleshow/75003350.cms">appealed to recruiters</a> saying “a few months of delay may be fine. If at all, these students are capable of getting you out of recession faster than you can imagine.” The changed environment left these young minds stranded with no job at hand. The institutes are now figuring out ways to place the students whose offers have been revoked. They are even reaching out to their alumni network to place students in the less-affected sectors. On the other hand, IIT-Kanpur director Abhay Karandikar also <a href="https://indianexpress.com/article/jobs/iit-iim-job-offers-placement-season-coronavirus-outbreak-lockdown-6346524/">said</a> that the institute will arrange a dedicated placement drive in July-August for those students who have been affected by the withdrawal of offers. See also: <a href="https://www.businessinsider.in/business/news/crude-oil-prices-didnt-fall-below-zero-futures-did-and-heres-what-it-means/articleshow/75264639.cms">Crude oil prices didn’t fall below zero, futures did – and here’s what it means</a> <a href="https://www.businessinsider.in/careers/news/iit-and-iim-job-offers-are-fast-vanishing-and-a-second-placement-drive-in-july-might-be-underway/articleshow/75003350.cms">IIT and IIM job offers are fast vanishing and a second placement drive in July might be underway</a> <a href="https://www.businessinsider.in/careers/news/tcs-cognizant-capgemini-and-other-top-giants-who-are-not-letting-go-of-their-new-hires/articleshow/75136446.cms">TCS, Cognizant, Capgemini and other top giants who are not letting go of their new hires</a>

Schlumberger revokes IIT job offers, lowers salaries after the massive crude oil price crash

New Delhi, Apr 13 () A high-powered committee comprising government officials and tech leaders, set up by the Prime Minister's Office, is working on solutions to deal with the coronavirus crisis, including the next version of Aarogya Setu app, according to a source.The committee has been formed under Principal Scientific advisor Professor Vijay Raghavan.The member includes IT secretary Ajay Sawhney, Trai Chairperson RS Sharma, telecom secretary Anshu Prakash, Tata Group chairperson N Chandrasekaran, Mahindra Group chairman Anand Mahindra, Tech Mahindra CEO CP Gurnani, Professor V Kamakoti of IIT Chennai and Google map founder Lalitesh Katragadda."The committee meets regularly and is progressing aggressively and the PMO is actively involved. They meet 3 to 4 times a week to discuss the next steps. Prime Minister Narendra Modi has been himself stressing on 'harnessing digital and tech innovation for a healthier planet', and spearheading this initiative," the source told .The committee is said to have been the driving force to develop coronavirus patient tracker mobile Aarogya Setu."The goal of the committee is to make this app cover all aspects. 100 per cent reach, ability to trace and restrict movement of patients and those quarantined using artificial intelligence and GPS technologies, reduce burden on the health care system by providing remote health care support," the source said.The committee is working on the next version of Aarogya Setu to help citizens to identify lockdown spots and also especially for the economically weaker section to use these services to find out and locate daily needs distribution centres."Basically aim is to be a complete one stop shop for all citizen needs arising due to covid-19. Tata Consultancy Services is working on testing and some of the other aspects while Tech Mahindra and the Mahindra group is working with the committee on the next version of this application and leveraging next generation technologies like AI, machine learning, data science," the source said.Tech Mahindra is also working on expanding the reach of Aarogya Setu on all types of phones.The current version of Aarogya Setu app is fit for use on smartphones only."There is work going on to add health care facilities, remote healthcare and medical staff support also in the app," the source said.According to the source, the committee is also working on to come up with solutions that can be rolled out across the country expeditiously and in an economical manner."The committee came up with Aarogya Setu on April 2. Now, over 1 crore people have downloaded it. Mahindra Group has declared that the group will enable building of automated versions of bag valve mask ventilator – especially to simplify design and to scale up capacity. Similarly other solutions are being expeditiously looked at by the committee," the source said.According to the source, Niti Aayog and the Ministry of Electronics and IT have played an instrumental role in the development of Aarogya Setu. PRS BAL

PMO ropes in tech leaders to develop solutions to deal with coronavirus crisis

<ul><li>The Modi government has decided to rope in management graduates from top institutions to intern with the teams that are working to tackle the Covid-19 crisis. </li><li>MBA colleges like Indian Institute of Management (IIM), Indian School of Business (ISB) and Management Development Institute (MDI) graduates have been offered internships to assist the government to handle the heath emergency </li><li>These interns will perform data analysis, collect evidence and provide inputs for policy changes with regard to the Covid-19 situation. </li><li>However, this internship will be on a ‘pro-bono basis’ and will offer no stipend. </li></ul>As India evaluates the economic impact of the global pandemic, the Modi government has decided to rope in management graduates from top institutions to intern with the teams that are working to tackle the Covid-19 crisis. According to a<a href="https://www.financialexpress.com/education-2/chance-to-serve-the-nation-modi-govt-offers-iim-isb-mdi-other-students-coronavirus-internship/1940924/"> report </a>by Financial Express, MBA colleges like Indian Institute of Management (IIM), Indian School of Business (ISB) and Management Development Institute (MDI) graduates have been offered internships to assist the government to handle the heath emergency. Other institutions include The Energy and Resources Institute (TERI), Indian Institute of Public Administration and Kalam Centre, Delhi. These interns will perform data analysis, collect evidence and provide inputs for policy changes with regard to the Covid-19 situation. <div type="image" title="coronaa" msid="75421262" hostid="261"></div> The students who get shortlisted for the role will work with 11 Special Empowered Groups for eight weeks. “It has been decided with the approval of the competent authority that interns may be provided for a period of eight weeks from the date of joining to the said empowered groups,” the <a href="https://www.hindustantimes.com/education/govt-seeks-interns-from-iims-to-help-it-in-covid-19-related-work/story-wfeQOZirZ1elY3cdIutXoK.html">officials said</a>. However, this internship will be on a ‘pro-bono basis’ and will offer no stipend. The shortlisting of candidates and internships would be facilitated through a work from home setup via online interviews and slack, a business communication platform. The internship certificates will be extended by the Ministry of Personnel, Public Grievances and Pensions. See also: <a href="https://www.businessinsider.in/careers/news/iit-and-iim-job-offers-are-fast-vanishing-and-a-second-placement-drive-in-july-might-be-underway/articleshow/75003350.cms">IIT and IIM job offers are fast vanishing and a second placement drive in July might be underway</a> <a href="https://www.businessinsider.in/india/news/how-iit-madras-are-developing-innovative-solutions-to-tackle-coronavirus/articleshow/75401210.cms">IIT Madras startups are developing smart bins, touchless dispensers and portable ventilators to tackle Coronavirus</a>

IIM, ISB, MDI and other management graduates to intern with the Indian government to tackle Corona Crisis — but without a stipend

<ul><li>Ahmedabad-based pharmaceutical firm <keyword id="1420878" type="DOMAIN" weightage="20" keywordseo="Hester-Biosciences">Hester Biosciences</keyword> on Wednesday said it has collaborated with <keyword id="666878" type="COMPANY" weightage="20" keywordseo="Indian-Institute-of-Technology-Guwahati">Indian Institute of Technology Guwahati</keyword> (<keyword id="2351388" type="PERSON" weightage="20" keywordseo="IITG">IITG</keyword>) to develop a vaccine for COVID-19. </li><li>The vaccine will be based on recombinant avian paramyxovirus-based vector platform, the company said.</li><li>The role of the institute is to produce the recombinant vaccine candidate.</li></ul> Ahmedabad-based pharmaceutical firm Hester Biosciences on Wednesday said it has collaborated with Indian Institute of Technology Guwahati (IITG) to develop a vaccine for COVID-19. The agreement between the two organisations was signed on April 15, 2020. The vaccine will be based on recombinant avian paramyxovirus-based vector platform, the company said. The recombinant avian paramyxovirus-1 will be used to express the immunogenic protein of SARS-CoV-2, which could then be used as a vaccine candidate for further study. The role of the institute is to produce the recombinant vaccine candidate. "IITG and Hester have collaborated to develop and manufacture a recombinant vaccine against COVID-19 disease as a preventive measure. Hester's involvement would be from master seed development up to release of the commercial vaccine," Rajiv Gandhi, CEO and MD, Hester Biosciences said. Head of the research team Sachin Kumar, who is Associate Professor in the Department of Biosciences and Bioengineering at <keyword id="186684" type="ORGANIZATION" weightage="20" keywordseo="IIT-Guwahati">IIT Guwahati</keyword>, said "It is too early to comment on the efficacy and immunogenicity of the vaccine, however, we will be able to reveal more details about this vaccine after the results of animal studies are obtained". See also: <a href="https://www.businessinsider.in/careers/news/iit-and-iim-job-offers-are-fast-vanishing-and-a-second-placement-drive-in-july-might-be-underway/articleshow/75003350.cms">IIM, ISB, MDI and other management graduates to intern with the Indian government to tackle Corona Crisis — but without a stipend</a> <a href="https://www.businessinsider.in/careers/news/over-120-million-blue-collar-employees-go-unpaid-as-operational-restrictions-impact-businesses/articleshow/75421501.cms">Over 120 million blue collar employees go unpaid as operational restrictions impact businesses</a>

IIT Guwahati collaborates with Hester Biosciences to develop recombinant vaccine against Covid-19

<ul><li>Employees in the IT and manufacturing sector are expecting the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> crisis to worsen. </li><li>According to LinkedIn’s second Workforce Confidence Index, at least one in five IT and manufacturing professionals expect tougher times for their companies in the next six months. </li><li>These working professionals are concerned for their job stability and career progression. </li><li>Added to that, a third of India’s workforce already reported a dip in their incomes. </li></ul>It’s been over a month now that the employees are working from home due to <keyword id="8637077" type="UNKNOWN" weightage="20" keywordseo="Coronavirus-lockdown">Coronavirus lockdown</keyword> and employees in the IT and manufacturing sector are expecting the situation to worsen. Over 45% of the employees are now struggling with personal finances. “This strain on personal finances is particularly prevalent among business leaders as 39% of senior executives in comparison to 27% of individual contributors cite a decrease in earned income.” This in turn will hurt spending and investment. Added to that, a third of India’s workforce already reported a dip in their incomes. “A tough jobs market, <keyword id="1118212" type="PERSON" weightage="20" keywordseo="pay-cuts">pay cuts</keyword>, and an ailing economy are suspected to have caused unrest amongst Indian professionals,” the survey said. According to LinkedIn’s second Workforce Confidence Index, at least one in five IT and manufacturing professionals expect tougher times for their companies in the next six months. These working professionals are concerned for their job stability and career progression, as companies face troubled times due to COVID-19. “The ongoing pandemic is sure frightening for everyone. We’re all stressed and then there’s the added burden of being handed pink slips by the employers. In fact, various organisations have already targeted employees that fall in a higher income slab owing to the pandemic. The worst part is that they are suddenly being questioned on their performance and it is actually the reason given to them when it’s otherwise,” an employee told Business Insider on the condition of anonymity. In fact, self-employed professionals seem to be the worst hit with over 60% respondents reporting a decrease owing to the cost cutting measures adopted across businesses. The survey also highlighted working professionals’ current sentiment about the jobs market, their financial status, career progression, and their expectations going forward. Not surprisingly, most are anticipating fewer jobs in the days to come. See also: <a href="https://www.businessinsider.in/policy/economy/news/hul-ceo-had-hoped-for-a-v-shaped-economic-recovery-from-covid-19-crisis-but-investors-fear-a-lot-worse/articleshow/75547375.cms">HUL CEO had hoped for a V-shaped economic recovery from COVID-19 crisis ⁠— but investors fear a lot worse</a> <a href="https://www.businessinsider.in/business/corporates/news/two-in-five-companies-in-india-that-enabled-remote-working-by-providing-laptops-to-employees-compromised-on-security-says-a-kpmg-report/articleshow/75531518.cms">Two in five companies in India that enabled remote working by providing laptops to employees compromised on security</a> <a href="https://www.businessinsider.in/india/news/iit-launches-a-covid-19-test-bus-in-mumbai-capable-of-conducting-5-million-tests-per-month/articleshow/75546462.cms">IIT launches a Covid-19 Test Bus in Mumbai — capable of conducting 5 million tests per month</a>

Between pay cuts and a jobs crisis, nearly half of India’s workforce feels financially stretched, a survey shows

<ul><li>According to the <keyword id="122232" type="ORGANIZATION" weightage="20" keywordseo="Centre-for-Monitoring-Indian-Economy">Centre for Monitoring Indian Economy</keyword> (CMIE), the unemployment rate stood at 24.3% during the week ending May 24. </li><li>In fact, the urban unemployment rate stood at nearly 27% during the week ending May 17 — higher than the rural unemployment rate. </li><li>This comes in the backdrop of the ongoing job and <keyword id="55815" type="PERSON" weightage="20" keywordseo="salary-cuts">salary cuts</keyword>. </li><li>This has directly impacted the labour participation rate (LPR), which dropped to 38.7% during the same week. </li><li>According to Dun &amp; Bradstreet (D&amp;B), the <keyword id="6369865" type="UNKNOWN" weightage="20" keywordseo="job-loss">job loss</keyword> and salary cuts will slow down the economic recovery even after the pandemic. </li></ul>Since March 24, the unemployment rate in India remained high at over 20% during the nationwide lockdown, thanks to the economic impact of the coronavirus pandemic. According to the Centre for Monitoring Indian Economy (CMIE), the unemployment rate stood at <a href="http://v">24.3%</a> during the week ending May 24. <div type="image" title="CMIE" msid="75993722" hostid="261"></div> This indicates that the relaxations in the lockdown since April 20 have not shown any positive impact on the unemployment rate as of now. In fact, the urban unemployment rate stood at nearly 27% during the week ending May 17 — higher than the rural unemployment rate. This means, <a href="https://www.cmie.com/kommon/bin/sr.php?kall=warticle&amp;dt=2020-05-19%2008:41:03&amp;msec=086">less than 25%</a> of the urban working age population is employed. This comes in the backdrop of the ongoing job crisis due to the lockdown. Companies are aggressively downsizing employees and implementing salary cuts to keep up with the running costs. Recently, apparel major <a href="https://www.businessinsider.in/business/corporates/news/raymond-layoffs-salary-cuts-and-complaints-of-pending-severance-pay/articleshow/75945502.cms">Raymond fired hundreds of employees</a> to overcome mounting losses. With this, it joined startups like Ola, Uber, Zomato and Swiggy, which cited COVID-19 crisis to lay off employees and cut salaries. Ola and Swiggy fired 1,1100 and 1,400 employees, owing to the fall in revenues. While Zomato laid off 13% of the workforce. In addition to this, many companies like Uber, Gartner and energy major Schlumberger have even <a href="https://www.businessinsider.in/careers/news/uber-has-revoked-job-offers-made-to-graduates-from-iims-mdi-spjimr/articleshow/75740158.cms">revoked job offers</a> extended to the fresh graduates at premier institutions like Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs). This has directly impacted the labour participation rate (LPR), which dropped to 38.7% during the same week. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies that laid off employees during lockdown </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Estimated job losses </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Raymond </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,100 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Livspace </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">450 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Swiggy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,100 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ola </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,400 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wework </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Uber </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">600 </td></tr></tbody></table>*Source: Media reports The impact of the pandemic is such that experts believe that the economy is likely to slip into recession in the third quarter of 2020-21. According to Dun &amp; Bradstreet (D&amp;B), the job loss and salary cuts will slow down the recovery even after the pandemic. “The D&amp;B India Chief Economist Arun Singh stated that the multiplier effect of the stimulus measures on the economy will depend on three key aspects, the time taken for effecting the withdrawal of the lockdown, the efficacy of implementation and duration of execution of the measures announced,” the<a href="https://www.cmie.com/kommon/bin/sr.php?kall=warticle&amp;dt=2020-05-25%2016:54:15&amp;msec=326"> CMIE report </a>says. See also: <a href="https://www.businessinsider.in/business/startups/news/hiring-now-check-out-these-job-openings-at-indian-startups-during-the-covid-19-pandemic/articleshow/75963395.cms">Hiring now! Check out these job openings at Indian startups during the COVID-19 pandemic</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-india-hiring-50000-jobs-available-for-delivery-guys/articleshow/75888254.cms">Amazon India has opened up 50,000 ‘seasonal’ jobs for the post-lockdown surge in e-commerce demand</a>

One in four Indians in the working age is unemployed as corporate layoffs continue⁠— making crisis worse and delaying economic recovery

<ul><li><keyword id="6364832" type="UNKNOWN" weightage="20" keywordseo="IIT-Kharagpur">IIT Kharagpur</keyword> and Kanpur have decided to mark students based on internal assessments including viva, projects, quizzes and mid-semester exams. </li><li>IIT-Delhi is considering early graduation options. </li><li>Meanwhile, Maharashtra government has also decided to go against conducting the <keyword id="9187161" type="UNKNOWN" weightage="20" keywordseo="final-year-exams">final year exams</keyword> across courses.</li></ul>In its latest directive, the Ministry of Human Resource and Development (MHRD) said that the final year college students will have to sit for exams in July — or later if the condition worsens. However, a few<a href="https://timesofindia.indiatimes.com/india/covid-crisis-forces-at-least-4-iits-to-ditch-final-year-exams/articleshow/76165911.cms"> Indian Institutes of Technology (IITs)</a> — Mumbai, Kanpur, Roorkee and Kharagpur campuses — are doing away with final graduation exams in the wake of COVID-19 pandemic. While others are evaluating online examination modules, grading systems and early graduation. <keyword id="6359674" type="ORGANIZATION" weightage="20" keywordseo="iit-roorkee">IIT Roorkee</keyword> said that it will promote students of 2019-20 batch based on performance grade points. However, it mentioned that the students can appear for the exam later, if they don’t want to go ahead with the grading pattern. "We have introduced a system to convert a pass letter grade to a Satisfactory (S) grade without grade point if a student requests for the same. The weightage ranges of various evaluation components have been revised. Further, students also have the option to appear in a re-exam to improve their grades," Director AK Chaturvedi told news agency PTI. IIT Kharagpur and Kanpur have decided to mark students based on internal assessments including viva, projects, quizzes and mid-semester exams. The institute has formulated a special committee to work on the grading scheme. In fact, as an exception due to COVID crisis, <keyword id="108320" type="COMPANY" weightage="20" keywordseo="IIT-Kanpur">IIT Kanpur</keyword> said that no student will fail this year, and the grades would be marked as A,B,C or S. On similar lines, <keyword id="61708" type="COMPANY" weightage="20" keywordseo="IIT-Bombay">IIT Bombay</keyword> will evaluate students based on their performance in the mid-semester examinations while up to 20% weightage can be given to online exams — if all the students register to appear in it. IIT-Delhi is considering early graduation options. A Twitter post shared by IIT-D director V Ramgopal Rao said “For early graduation, there are two options. Students can choose the ‘Audit pass/fail’ option or a credit option. For audit pass/fail, instructors will declare the cutoff. For credit options, students will take online tests, home exams, assignments and viva voice as applicable. Grading policy will also be announced.” <div type="twitter" handle="ramgopal_rao" handlename="V.Ramgopal Rao" image="http://pbs.twimg.com/profile_images/1254326397868191745/TMHpMNSm_normal.jpg" favoritecount="87" retweetcount="28" status="IIT Delhi policy for 2020 Graduating batch.For any other queries, please send an email to &quot;arugs@admin.iitd.ac.in… https://t.co/e7XId2VJCZ" createdat="1591020290000" id="1267457079125479427"></div> Meanwhile, <a href="https://indianexpress.com/article/education/no-final-year-exams-for-maharashtra-students-new-formula-for-promotion-6437394/">Maharashtra government</a> has also decided to go against conducting the final year exams. State Cabinet Minister Aaditya Thackeray said that the students will be promoted based on the aggregate marks. Overall, as many as 33 crore students are enrolled in over 45,000 colleges in India. In March, the HRD Ministry directed all the educational institutions — including the universities, entrance exam centres to shut down in wake of the coronavirus pandemic. Since then, colleges have been trying to move the academic sessions online. See also: <a href="https://www.businessinsider.in/careers/news/digital-skills-that-experts-believe-you-need-to-survive-the-current-job-crisis/articleshow/76167406.cms">Digital skills that experts believe you need to survive the current job crisis</a> <a href="https://www.businessinsider.in/india/news/online-streaming-and-e-newspaper-replaced-burgers-and-pizzas-in-may-as-people-continued-to-spend-in-may-despite-the-lockdown/articleshow/76167952.cms">Online streaming and e-newspaper replaced burgers and pizzas as people continued to spend in May despite the lockdown</a>

IIT Bombay, Kharagpur, Roorkee and Kanpur students will not have to sit for final year exams

The <keyword id="1129131" type="PERSON" weightage="20" keywordseo="scientific-community">scientific community</keyword> has stated that they had hinted to the Central government about the <keyword id="2987267" type="PERSON" weightage="20" keywordseo="new-variants">new variants</keyword> of Covid-19 virus and also an increase in the cases in May this year. The community, however, did not make any prediction due to lack of data analysis. Dr. M. <keyword id="6541669" type="PERSON" weightage="20" keywordseo="vidyasagar">Vidyasagar</keyword>, who is a professor at <keyword id="6354859" type="COMPANY" weightage="20" keywordseo="IIt">IIT</keyword> (Hyderabad), stated that by March 13 this year Covid cases were showing an upward trend but as they did not have requisite data available so they did not make any prediction. Vidyasagar further stated that after they hinted, the government said the authorities made long- and medium-term plans to short-term plans. Based on the events of the past few weeks, however, those plans seem to have been inadequate, said Vidyasagar citing the current crisis of oxygen supply across the country. The IIT Kanpur study in April also stated that the daily cases in the second wave will increase by May 8. The Kanpur study also predicted a peak of 38 to 44 lakh active cases between May 14 and May 18. The scientists also stated in March that they had alerted the government about the new and more contagious variant of the coronavirus -- SARS-CoV-2 Genetics Consortium, or INSACOG. The institution was set up by the government in December last year, specifically to detect genomic variants of the coronavirus. The institution examined 10 national laboratories across the country studying virus variants. The institution first detected B.1.617 as early as February. Ajay Parida, director of the state-run <keyword id="3748353" type="COMPANY" weightage="20" keywordseo="institute-of-life-sciences">Institute of Life Sciences</keyword> and a member of INSACOG, reportedly stated that they first detected B.1.617 in February and alerted the government. The <keyword id="83655" type="COMPANY" weightage="20" keywordseo="Union-health-ministry">Union Health Ministry</keyword>'s <keyword id="6367874" type="COMPANY" weightage="20" keywordseo="national-centre-for-disease-control">National Centre for Disease Control</keyword> received the finding in March. The finding reportedly stated that the mutations, called E484Q and L452R, were of high concern. It stated E484Q mutant viruses escaping highly neutralising antibodies in cultures, and L452R mutation was responsible for both increased transmissibility and immune escape. The mutated versions of the virus could more easily enter a human cell and counter a person's immune response to it, according to the findings. The ministry put the findings in public domain in March stating that 'more problematic variants required following measures already underway'. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/tata-power-says-it-has-no-such-decision-on-an-ipo-for-its-renewable-energy-business/articleshow/82365533.cms" style="">Tata Power says it has ‘no such decision’ on an IPO for its renewable energy business</a> <a href="https://www.businessinsider.in/business/startups/news/gaming-startup-winzo-gives-complete-exit-to-hike-kavin-mittal-gets-four-times-return-on-investment/articleshow/82367340.cms" style="">Gaming startup WinZO gives complete exit to Hike – Kavin Mittal gets four times return on investment</a> <a href="https://www.businessinsider.in/india/news/adar-poonawalla-estimates-two-more-months-of-covid-19-vaccine-shortage-in-india/articleshow/82366770.cms">SII’s Adar Poonawalla estimates two more months of COVID-19 vaccine shortage in India — and the blame game is heating up</a>

Warned the Centre about new COVID-19 variants and surge in cases, says scientist community

Chennai, May 14 (): The Indian Instituteof Technology-Madras, in association with industry bodies,would undertake a study on the impact of coronavirus in themicro, small and medium enterprises in Tamil Nadu. The state accounts for 6.89 lakh registered enterprisescomprising 15 per cent of the total MSME sector present inthe country. Considering this, the disruption caused by the COVID-19is a major concern, a press release said.  The study would suggest immediate and long-term policyinitiatives to the government for the sector. It is expectedto be completed in three-four weeks, the release said. The study follows the stimulus packages announced by theFinance Ministry to revive the sector.  IIT-M would collaborate with ConsoTree, engaged inresearch and industry development, Tamil Nadu Small and TinyIndustries Association and district-level bodies, includingthe Coimbatore District Small Industries Association.   "The survival of these enterprises are at stake due tothe pandemic. There is an urgent need to undertake researchto analyse the challenges of the enterprises in detail,"  theIIT's associate professor of economics Subash Sasidharan wasquoted as saying in the release.  The phases of lockdown announced by the governmentwitnessed a revenue shortfall of more than 60 per cent forthe sector, creating an unprecedented crisis to the industry.  The MSME sector faced a severe shortage of workingcapital, including delay in payments, shortage of labour anddisruption in supply chain, the release said.  VIJNVG   NVG

You Searched For "iit coronavirus crisis" and got 9 results

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Between pay cuts and a jobs crisis, nearly half of India’s workforce feels financially stretched, a survey shows

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One in four Indians in the working age is unemployed as corporate layoffs continue⁠— making crisis worse and delaying economic recovery

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IIT Bombay, Kharagpur, Roorkee and Kanpur students will not have to sit for final year exams

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Warned the Centre about new COVID-19 variants and surge in cases, says scientist community

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IIT-M, industry bodies to study COVID-19 impact on MSMEs

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