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The state of the job market has been worrisome for people across the country ever since companies started carrying out large scale layoffs. In 2022, Twitter (now called X) laid off thousands of employees and eventually, companies like Meta, Google, Amazon, Microsoft and so on also began handing the pink slip to employees. Thousands of people took to social media platforms to share their ordeals. While some have successfully moved on to new roles now, many are still searching for opportunities, elevating competition in the job market. However, the situation isn't so grim everywhere. <keyword id="78512" type="General" weightage="100" keywordseo="iim-calcutta" source="Orion">IIM Calcutta</keyword> students bagged offers worth nearly 2 lakh per month for their summer internship programme. Curious? Read on to know more. The 61st batch of IIM Calcutta's flagship MBA programme saw all 475 students secure internships during the recent placement season. The numbers also speak volumes: a staggering median stipend of ₹2 lakh per month, a record-breaking achievement, and an average of ₹1.89 lakh that closely follows. And it doesn’t stop there—the highest domestic offer came in at ₹3.67 lakh, while international placements soared with top offers of ₹6.75 lakh per month. For many, this success story from IIM Calcutta is a reminder that when it comes to premium talent, there’s always a demand, even when the world feels uncertain. Professor Ritu Mehta, Chairperson of Placement Activities at IIM Calcutta, said as per a report in ET, "The outcome of the <keyword id="23806452" type="General" weightage="20" keywordseo="summer-internship-offers" source="keywords">summer internship offers</keyword> has yet again demonstrated the future readiness of our students in a highly competitive landscape. Globally, there is an ongoing recalibration of managerial jobs and pullback of job postings, hence we are very grateful to our recruiters to repose their trust in our students and our academic processes." Meanwhile, IIM Calcutta said, "The cluster-cohort placement process that involved various policies such as ‘dream offer’ enabled recruiters to find a better student-recruiter fit, making the overall process a win-win for both recruiters and students." For the unversed, IIM Calcutta, established in 1961 as the first Indian Institute of Management, is one of the most prestigious business schools in India and is globally renowned for its academic excellence. Known for its rigorous MBA programme, it has built a reputation for producing leaders equipped with strong analytical and strategic thinking skills. The institute has consistently attracted top-tier recruiters across various industries, and people across the industry keep a close eye during its placement season.

₹1.89 lakh per month for summer internship! Freshers at this institute bag bumper monthly stipend

Over the past few months, there’s been a lot of brouhaha about the lagging pace of bank deposits in India. Simply put, the rate at which Indians are depositing their hard-earned money in banks has been falling constantly, and some blame the increasing financialization of household savings in the country, or the rising preference of Indians towards mutual funds and shares. So, the hypothesis is that people are choosing to invest more in mutual funds and the Indian equity markets through direct investments, IPOs, or NFOs, the money flowing into Indian banks in the form of deposits is slowing down. But is that really the case? <h2>A crisis or a phase?</h2><keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> data suggested that for the quarter ended June 2024, bank deposits grew at 11.7%. On the other hand, credit growth has outpaced this at 15%. This means that the outflow from banks as loans is far greater than the inflow into them in the form of deposits in Q1 of FY 2024-25. The situation largely saw cut-copy-paste in the first week of September as well, with loans registering a 13.3% YoY growth during the period, while deposits rose only 11.1%. This gap has only been widening for the last 3 years. Since deposits are how banks gather assets to further lend and earn interest income as a consequence, even a slight dip could set the alarm bells ringing for banks, and rightfully so. And truth be told, mutual funds are indeed taking on bank deposits in a big way. Per a report by <keyword id="20250971" type="General" weightage="20" keywordseo="franklin-templeton" source="keywords">Franklin Templeton</keyword>, in August 2024, the AUM (assets under management) of Indian mutual funds, or the total funds managed by them, stood at 31.3% of total bank deposits in the country, up from 24.20% during the year-ago period. As of August 2024, the AUM of mutual funds stood at Rs 66.17 lakh crore, an all-time high. But all said and done, is this really the reason why the rate of bank deposits is falling behind? SBI has dismissed this to be a “statistical myth”, and experts point out that since equity and fund houses also keep the cash in their respective bank accounts, there’s no cause for concern. So, is financialization really to be blamed for the trailing tempo of deposits? Or is something else happening behind the scenes? We take a closer look: <h2>First, are <keyword id="4000333" type="General" weightage="100" keywordseo="household-deposits" source="Orion">household deposits</keyword> really slowing down? And is that a cause of concern?</h2>Data from Motilal Oswal suggests the contrary. Deposits grew by around 10.4% between March 2020 and August 2024. Data from RBI also highlights that as of August 9, 2024, bank deposits witnessed a YoY growth of 10.8%. The loan-to-deposit ratio for the retail segment, which indicates what percentage of its total deposits the banks lend out as loans, has stayed at 77.5%, above the 77% mark for the tenth straight month. Also, we can’t forego the fact that the share of Indian <keyword id="20319599" type="General" weightage="20" keywordseo="households" source="keywords">households</keyword> in bank deposits has indeed slowed down. However, data from Axis AMC shows that the dip is marginal—from 63% in 2022 to 62% in 2023 and 61% in 2024. What has slowed down even more considerably is the share of government deposits in the aggregate bank deposits, which has dipped from 14% in 2018 to 9% in 2024. So, it's not just household deposits, you see. Moreover, as of March 2024, the collective CASA ratio (current and savings account deposits) of all commercial banks in India stood at 41.00%, down from 43.1% in March 2023 and 45.2% in March 2022, marking a nearly 5% point decline over the past year, while still staying over the 10-year average of 39.2%. This implies that Indian banks are relying more on higher-cost funds (savings accounts), which can limit their profitability. <h2>What is this financialisation of savings we are talking about?</h2>Then again, there is no doubt about the growing affinity of Indians towards mutual funds and stock markets. Recent data from CBDT (<keyword id="19942037" type="General" weightage="20" keywordseo="central-board-of-direct-taxes" source="keywords">Central Board of Direct Taxes</keyword>) highlights that India’s net direct tax collection surged by around 22%, driven exclusively by the significant uptick in the collection of <keyword id="20930760" type="General" weightage="20" keywordseo="securities-transaction-tax" source="keywords">Securities Transaction Tax</keyword> (STT), which doubled to Rs 26,154 crore, from Rs 13,352 crore in the year-ago period. Why does this matter? STT is levied when you buy or sell equity shares on stock exchanges, sell equity mutual funds, and trade in futures and options in the equity segment. Such taxes, including the multiple other taxes in equity market investments, are considered as leakages as the money moves out of the economy into government coffers. Data from a ValueQuest report explains that over the last 20 years, the markets have handsomely rewarded the investors, generating over $900 billion in incremental value for them. This is the major driver behind the dramatic rise in investment flowing towards the equity markets. There’s further proof of this budding romance, if you check the demat pudding. The number of demat accounts, which are a primary requisite for participating in the stock markets, also burgeoned by 42.3 lakh in August 2024, taking India’s total tally of demat accounts beyond 17 crore. To put this in perspective, this is almost equivalent to the population of just 8 nations in the world, including China, the US, Brazil and more. Vivek Iyer, Partner, Grant Thornton Bharat thinks it's rather important, as well. “Financialisation of household savings in India is an indication of deepening capital markets in the market, especially from a retail investor standpoint. Bank deposits with a modest rate of return are no longer the only option for savings for investors. Investors today have more avenues for wealth creation in the form of public capital markets, which have democratized wealth creation and provided equality of opportunity to retail investors”, he says. Yes, Indians are investing more and more in the markets, and in mutual funds. But is it a sin to look out for inflation-beating returns, which the stock markets offer, and vanilla bank deposits don't? After all, the allure of 12-13% annual returns offered by equities can certainly pale the stability offered by good old deposits, which generally do not go beyond 9% when it comes to annual returns. But all of this is not what is behind the slowdown. India is still a toddler in the school of savings financialization, with less than 10% of the population holding a demat account, and less than 5% of us saving in equities. That's a drop in the ocean of deposits, far inadequate to trigger a tsunami. <h2>Tell me why lagging deposits have nothing to do with Indians investing more in mutual funds!</h2>Says Shweta Rajani, Head - Mutual Funds, Anand Rathi Wealth Limited, “Households' equity holdings composition grew from 11.1% in FY 23 to 14.7% in FY 24. This trend reflects a growing awareness of investment options, empowering individuals to take control of their financial futures. Despite this transition towards equities, banks still hold a significant share of household financial savings—33.5% in FY24 compared to 34.9% in FY23”. Also, household savings and their subsequent financialization do not have much to do with deposit creation, which is entirely made by banks. What actually drives increased deposits is credit growth or increased lending. When interest rates are eased, people tend to borrow more and spend more, which circulates more money in the economy. For the past 4 years, RBI has been tightening the screws on interest rates, which raises the cost of borrowings, and makes it more expensive to take loans, putting a dampener on credit growth, but effectively curbing inflationary pressures. The last time RBI cut the repo rate by 40 basis points was back in May 2020, 4 years ago. The lag in deposit growth we’re witnessing is almost 3 years old. Coincidence much, or just good old economics at work? But with the <keyword id="19900043" type="General" weightage="20" keywordseo="fed" source="keywords">Fed</keyword> recently setting a rate cut precedent by slashing 50 bps off its interest rate, RBI is expected to follow suit in the next <keyword id="19918491" type="General" weightage="20" keywordseo="mpc" source="keywords">MPC</keyword> (Monetary Policy Committee) meeting, scheduled for November 2024. A rate cut would ease the aforementioned high cost of borrowing, and increase loan-taking for corporates and institutional investors, thereby stoking consumption in the economy. And then, deposit creation in banks is likely to return to its former glory. If not, then that would be a curious case to unravel! But that worry is for another day.

A Deposit Dilemma — What's the fuss about a crisis in Indian bank deposits? Are mutual fund investments to blame?

<div type="image" title="Are Indians depositing less money in banks, or more in mutual funds? Turns out, it&amp;#39;s neither of those." msid="113663806" hostid="261" sizebytes="1121785"></div> Over the past few months, there’s been a lot of brouhaha about the lagging pace of <keyword id="20202062" type="General" weightage="20" keywordseo="bank-deposits" source="keywords">bank deposits</keyword> in India. Simply put, the rate at which Indians are depositing their hard-earned money in banks has been falling constantly, and some blame the increasing financialisation of <keyword id="20751315" type="General" weightage="20" keywordseo="household-savings" source="keywords">household savings</keyword> in the country or the rising preference of Indians towards <keyword id="19929240" type="General" weightage="20" keywordseo="mutual-funds" source="keywords">mutual funds</keyword> and shares. So, the hypothesis is that people are choosing to invest more in mutual funds and the Indian <keyword id="19949641" type="General" weightage="20" keywordseo="equity-markets" source="keywords">equity markets</keyword> through direct investments, IPOs, or NFOs, the money flowing into Indian banks in the form of deposits is slowing down. But is that really the case? <h2>A crisis or a phase?</h2><keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords" meta.keywordsubtype="org" meta.entityname="RBI" meta.hostid="261" meta.entityid="RBI">RBI</keyword> data suggested that for the quarter ended June 2024, bank deposits grew at 11.7%. On the other hand, credit growth has outpaced this at 15%. This means that the outflow from banks as loans is far greater than the inflow into them in the form of deposits in Q1 of FY 2024-25. The situation largely saw cut-copy-paste in the first week of September as well, with loans registering a 13.3% YoY growth during the period, while deposits rose only 11.1%. This gap has only been widening for the last 3 years. Since deposits are how banks gather assets to further lend and earn interest income as a consequence, even a slight dip could set the alarm bells ringing for banks, and rightfully so. And truth be told, mutual funds are indeed taking on bank deposits in a big way. Per a report by Franklin Templeton, in August 2024, the AUM (assets under management) of Indian mutual funds, or the total funds managed by them, stood at 31.3% of total bank deposits in the country, up from 24.20% during the year-ago period. As of August 2024, the AUM of mutual funds stood at Rs 66.17 lakh crore, an all-time high. But all said and done, is this really the reason why the rate of bank deposits is falling behind? SBI has dismissed this to be a “statistical myth”, and experts point out that since equity and fund houses also keep the cash in their respective bank accounts, there’s no cause for concern. So, is financialization really to be blamed for the trailing tempo of deposits? Or is something else happening behind the scenes? We take a closer look: <h2>First, are household deposits really slowing down? And is that a cause of concern?</h2>Data from Motilal Oswal suggests the contrary. Deposits grew by around 10.4% between March 2020 and August 2024. Data from RBI also highlights that as of August 9, 2024, bank deposits witnessed a YoY growth of 10.8%. The loan-to-deposit ratio for the retail segment, which indicates what percentage of its total deposits the banks lend out as loans, has stayed at 77.5%, above the 77% mark for the tenth straight month. <div type="image" title="Yes, household deposits (as % of total deposits) have dipped, but the drop is far from significant" msid="113663882" hostid="261" sizebytes="306706"></div> Also, we can’t forego the fact that the share of Indian households in bank deposits has indeed slowed down. However, data from Axis AMC shows that the dip is marginal—from 63% in 2022 to 62% in 2023 and 61% in 2024. What has slowed down even more considerably is the share of government deposits in the aggregate bank deposits, which has dipped from 14% in 2018 to 9% in 2024. So, it's not just household deposits, you see. Moreover, as of March 2024, the collective CASA ratio (current and <keyword id="114757" type="General" weightage="20" keywordseo="savings-account" source="Orion">savings account</keyword> deposits) of all commercial banks in India stood at 41.00%, down from 43.1% in March 2023 and 45.2% in March 2022, marking a nearly 5% point decline over the past year, while still staying over the 10-year average of 39.2%. This implies that Indian banks are relying more on higher-cost funds (savings accounts), which can limit their profitability. <h2>What is this financialisation of savings we are talking about?</h2>Then again, there is no doubt about the growing affinity of Indians towards mutual funds and stock markets. Recent data from CBDT (Central Board of Direct Taxes) highlights that India’s net direct tax collection surged by around 22%, driven exclusively by the significant uptick in the collection of Securities Transaction Tax (STT), which doubled to Rs 26,154 crore, from Rs 13,352 crore in the year-ago period. Why does this matter? STT is levied when you buy or sell equity shares on stock exchanges, sell <keyword id="6361918" type="General" weightage="20" keywordseo="equity-mutual-funds" source="Orion">equity mutual funds</keyword>, and trade in futures and options in the equity segment. Such taxes, including the multiple other taxes in equity market investments, are considered as leakages as the money moves out of the economy into government coffers. Data from a ValueQuest report explains that over the last 20 years, the markets have handsomely rewarded the investors, generating over $900 billion in incremental value for them. This is the major driver behind the dramatic rise in investment flowing towards the equity markets. There’s further proof of this budding romance, if you check the demat pudding. The number of demat accounts, which are a primary requisite for participating in the stock markets, also burgeoned by 42.3 lakh in August 2024, taking India’s total tally of demat accounts beyond 17 crore. To put this in perspective, this is almost equivalent to the population of just 8 nations in the world, including China, the US, Brazil and more. Vivek Iyer, Partner, Grant Thornton Bharat thinks it's rather important, as well. “Financialisation of household savings in India is an indication of deepening capital markets in the market, especially from a retail investor standpoint. Bank deposits with a modest rate of return are no longer the only option for savings for investors. Investors today have more avenues for wealth creation in the form of public capital markets, which have democratized wealth creation and provided equality of opportunity to retail investors”, he says. Yes, Indians are investing more and more in the markets, and in mutual funds. But is it a sin to look out for inflation-beating returns, which the stock markets offer, and vanilla bank deposits don't? After all, the allure of 12-13% annual returns offered by <keyword id="45369" type="General" weightage="20" keywordseo="equities" source="Orion">equities</keyword> can certainly pale the stability offered by good old deposits, which generally do not go beyond 9% when it comes to annual returns. But all of this is not what is behind the slowdown. India is still a toddler in the school of savings financialization, with less than 10% of the population holding a demat account, and less than 5% of us saving in equities. That's a drop in the ocean of deposits, far inadequate to trigger a tsunami. <h2>Tell me why lagging deposits have nothing to do with Indians investing more in mutual funds!</h2>Says Shweta Rajani, Head - Mutual Funds, Anand Rathi Wealth Limited, “Households' equity holdings composition grew from 11.1% in FY 23 to 14.7% in FY 24. This trend reflects a growing awareness of investment options, empowering individuals to take control of their financial futures. Despite this transition towards equities, banks still hold a significant share of household financial savings—33.5% in FY24 compared to 34.9% in FY23”. Also, household savings and their subsequent financialization do not have much to do with deposit creation, which is entirely made by banks. What actually drives increased deposits is credit growth or increased lending. When interest rates are eased, people tend to borrow more and spend more, which circulates more money in the economy. For the past 4 years, RBI has been tightening the screws on interest rates, which raises the cost of borrowings, and makes it more expensive to take loans, putting a dampener on credit growth, but effectively curbing inflationary pressures. The last time RBI cut the repo rate by 40 basis points was back in May 2020, 4 years ago. The lag in <keyword id="19998084" type="General" weightage="100" keywordseo="deposit-growth" source="keywords">deposit growth</keyword> we’re witnessing is almost 3 years old. Coincidence much, or just good old economics at work? But with the Fed recently setting a rate cut precedent by slashing 50 bps off its interest rate, RBI is expected to follow suit in the next MPC (Monetary Policy Committee) meeting, scheduled for November 2024. A rate cut would ease the aforementioned high cost of borrowing, and increase loan-taking for corporates and institutional investors, thereby stoking consumption in the economy. And then, deposit creation in banks is likely to return to its former glory. If not, then that would be a curious case to unravel! But that worry is for another day. Do you have insights or personal experience to share on your personal finances or money? Contact us at <a target="_blank" class="c-link" href="mailto:businessinsider@timesinternet.in">businessinsider@timesinternet.in</a>.

Simply Put: A Deposit Dilemma — What's the fuss about a crisis in Indian bank deposits? Are mutual fund investments to blame?

US presidential candidate <keyword id="19918985" type="General" weightage="20" keywordseo="Donald-Trump" source="keywords">Donald Trump</keyword> has gone from suggesting that immigrants were poisoning the blood of the country to saying that he would welcome immigrants from “nice” countries like Denmark, Switzerland and Norway to his most recent plans of automatically granting green cards to <keyword id="22128571" type="General" weightage="20" keywordseo="foreign-graduates" source="keywords">foreign graduates</keyword> of US colleges in a rather short duration of time. Feeling a little whiplashed, anyone? Securing a green card in the US is a Herculean task whose difficulty is probably comparable to capturing and bringing back Cerberus. And this legal permanent residence, which can sometimes take decades, is only the first step to becoming a US citizen. Many Indians have tried, whether it’s through residing and working for decades, navigating rather lengthy paperwork or marrying someone who is already a US citizen. Sadly, many have failed too. However, should Donald Trump become the President of the United States again (and decide to keep his word), Indian students might actually have an easier time getting a green card. In a surprising shift from his previous stance on immigration, former President Donald Trump has unveiled a bold plan to automatically grant green cards to foreign graduates of US colleges if re-elected. This announcement, made during a podcast interview with Silicon Valley investors, marks a departure from Trump's traditionally tough rhetoric on immigration. During the podcast hosted by Chamath Palihapitiya and others, Trump expressed his commitment to retaining talent educated in American universities. He argued passionately for granting green cards as a standard benefit for graduates, regardless of the institution they attended. Trump emphasised that this policy should encompass graduates from renowned institutions like Harvard and MIT as well as from junior colleges across the country. “It’s so sad when we lose people from Harvard, MIT, the greatest schools, and lesser schools that are phenomenal schools also,” Trump lamented on the All-In Podcast. “I think you should get, automatically, as part of your diploma, a green card to be able to stay in this country and that includes junior colleges, too.” A green card affords its holder permanent residency rights in the United States and represents a crucial step towards citizenship. Trump's proposal, if enacted, could potentially introduce hundreds of thousands of new applicants for citizenship annually. Adding to the exodus of Indians who have already migrated to the US, over 200,000 Indian nationals are enrolled in institutes across the US in 2024, setting a new record. In fact, the significant surge in Indian students seeking education in the country between 2022-23 represented an unprecedented 35% increase from the year before that. The former US president specifically mentioned India and China, highlighting how talented individuals were unable to stay in the US because of current <keyword id="22151110" type="General" weightage="20" keywordseo="visa-policies" source="keywords">visa policies</keyword>. We can see how this may show him in a favourable light for green card aspirants. And while we’re not one to look a gift horse in the mouth, it is important to remember that Trump has made his discriminatory nature very public in several instances. Immigration has been a hot topic in the US political arena for decades. However, in recent years, the political right and others have been more divided than ever on this issue. Republicans have been calling for stringent immigration policies and strict border protections. Therefore, even if Trump does deliver what he promises, the packaging will most likely have fine print that might continue to make it difficult for students to attain green cards. In fact, the presidential candidate’s campaign press secretary, Karoline Leavitt, has already clarified that Trump's proposal would only apply to thoroughly vetted college graduates who can “make significant contributions” to America and would not undercut American wages or workers. She emphasised that Trump has outlined the most aggressive vetting process in US history to exclude "all communists, radical Islamists, Hamas supporters, America haters and public charges." Anyhow, Trump’s proposal starkly contrasts with Trump's previous hardline stance on immigration, which had been a cornerstone of his political platform. During his presidency, Trump advocated for stringent immigration policies, including the largest deportation campaign in US history, aimed at undocumented migrants, and building a wall on the southern borders of the country. Trump intensified restrictions on legal immigration amid the pandemic and his final year in office. He proposed halting all immigration to the US and deporting foreign students who didn't attend some in-person classes. A month before the 2020 election, Trump once more moved to tighten regulations on the <keyword id="20773661" type="General" weightage="20" keywordseo="H-1B-visa" source="keywords">H-1B visa</keyword> program. He has also criticised the H-1B visa program, which tech companies favour for hiring foreign skilled workers, as detrimental to American prosperity. The H-1B visa is a non-immigrant visa allowing US firms to employ foreigners in specialised occupations requiring theoretical or technical expertise. At a recent campaign event in Wisconsin, Trump criticised Biden's immigration policies, particularly lambasting a new program allowing undocumented spouses of US citizens to apply for permanent residence without leaving the country. Trump characterised immigration under Biden as an "invasion" and argued against discussing amnesty, urging instead for measures to halt what he perceives as an influx of unauthorised migrants. Estimates from the Department of Homeland Security suggest that approximately 11 million migrants currently reside in the US without authorization, a statistic that has been central to Trump's arguments against leniency in immigration policy.

Donald Trump strikes again: Ex-President proposes automatic green cards for foreign graduates of US colleges

<ul><li><keyword id="1795966" type="General" weightage="20" keywordseo="calyampudi-radhakrishna-rao" source="Orion">Calyampudi Radhakrishna Rao</keyword> was born on September 10, 1920 into a Telugu-speaking family in the erstwhile Madras Presidency. </li><li>Two years before India got its independence, he published a paper with three results that aided scientific research for decades after. </li><li>From data science to <keyword id="274992" type="General" weightage="20" keywordseo="higgs-boson" source="Orion">Higgs Boson</keyword> – many large scientific experiments use his work. </li></ul>Where is statistics used? The answer to this broad question lies in the life and works of Dr CR Rao, who will soon be presented with the International Prize in Statistics, which is the Nobel Prize of the statistics field. The 102-year-old Indian-American scientist’s work in statistics now propels the field of science — right from data analytics to analysing data from Large Hadron Collider, the world’s most powerful accelerator that found the elusive God particle or the Higgs Boson a decade ago. In fact when a cardiologist had a problem constructing the shape of the human left ventricle from a pair of X-ray projection images taken from two perpendicular camera sets — it led to his extensive work on shape analysis. When he was at Cambridge University, he was presented with <a href="https://theprint.in/india/legendary-statistician-cr-rao-credited-with-restructuring-field-of-statistics-turns-100/499800/">the Jebel Moya problem</a>. Skeletons from an ancient grave in Africa were brought back to the university and Rao analysed their measurements to determine their lives and relationship with neighbours. That’s when he introduced the concept of quadratic entropy, a general measure of diversity or non-homogeneity in a population. For decades, his papers and works have helped scientists estimate results of experiments starting right from basic sciences like physics, chemistry and biology to artificial intelligence (AI), radar systems and many more that are to come. Early life of the man who became a legend Calyampudi Radhakrishna Rao was born on September 10, 1920 into a Telugu-speaking family in Huvvina Hadagalli. The town then belonged to the erstwhile Madras province, and is now in Karnataka. His father was a police inspector and his mother a homemaker. After completing his high school education in Visakhapatnam, he obtained his Master’s Degree in Mathematics from Andhra University in 1940. Later, he joined a master’s programme at the Calcutta University in statistics which was newly instituted. Needless to say, he received the <a href="http://library.isical.ac.in:8080/jspui/bitstream/10263/5522/2/C%20R%20Rao%20biography.pdf">highest rank possible </a>and a gold medal too. Two years before India got its independence, he published a paper where he demonstrated <a href="https://www.dnaindia.com/science/report-who-is-cr-rao-102-year-old-mathematician-awarded-nobel-prize-of-statistics-for-75-year-old-work-3035524">three fundamental results</a> — Cramer-Rao lower bound, the Rao-Blackwell Theorem; and introduced differential geometric methods in statistical estimation. His third result formed the basis for a new interdisciplinary field - ‘information geometry’. He went to Cambridge for a project and came back to work at the Indian Statistical Institute in the late 1940s. At the institute, he rose to the ranks of a director and quit in 1976. In 1978, he moved to the US as a university professor after retiring, and continues to the professor emeritus of statistics at Penn State. So, to answer the question posed at the start of this piece – thanks in large part to the efforts of Rao, statistics is used in everything from computer science, quantum physics, linguistics and sociology to economics.

Pride of India: Statistician CR Rao’s influence is widespread – The Higgs Boson, shape of the heart, archaeological digs & more

Neutralising antibody responses against the SARS-COV-2 virus and its variants of concern (VoC) are higher among <keyword id="9617748" type="General" weightage="80" keywordseo="covishield" source="Orion">Covishield</keyword> recipients than those who took the indigenously made <keyword id="9485939" type="General" weightage="100" keywordseo="covaxin" source="Orion">Covaxin</keyword>, according to a multi-centre study. The yet-to-be peer-reviewed study, posted on the preprint server MedRxiv on Friday, also found that when compared to the pre-vaccination baseline, both vaccines elicited statistically significant antibody levels in both seronegative individuals and seropositive or those who had recovered from COVID-19 infection. Between June 2021 and January 2022, the researchers enrolled 691 participants in the 18-45 age group across four sites in urban and rural Bengaluru and <keyword id="2094" type="General" weightage="50" keywordseo="pune" source="Orion">Pune</keyword>. Participants received either two doses of Covaxin at 28 days apart or two doses of Covishield at three months apart. The <keyword id="1609796" type="General" weightage="50" keywordseo="omicron" source="Orion">Omicron</keyword> wave in early 2022 overlapped with the second dose of vaccine in two sites and with both doses in one site. Participants were sampled at six timepoints for antibody analyses and at four timepoints for cellular analyses. When compared to pre-vaccination baseline, both vaccines elicited statistically significant antibody levels in both seronegative and seropositive individuals, the researchers found. Covishield elicited immune responses of higher magnitude and breadth than Covaxin in both seronegative individuals and seropositive individuals, across cohorts representing the pre-vaccination immune history of the majority of the vaccinated Indian population. Immunologist Vineeta Bal noted that in young adult population there is a difference in the response to COVID vaccines, if individuals are already infected with SARS-CoV-2 and recovered (seropositives) versus not infected. "In seronegatives, two doses of Covishield lead to higher magnitude of antibody levels in higher proportion of vaccine recipients as compared to Covaxin recipients," Bal, from <keyword id="101852" type="General" weightage="50" keywordseo="indian-institute-of-science-education-and-research" source="Orion">Indian Institute of Science Education and Research</keyword> (IISER), Pune and one of the study authors, told PTI. "In terms of waning of immune response with time also Covishield vaccinated individuals retain antibodies in their blood for longer period in larger proportion of individuals,” she said. The study does not directly look for or document protection from COVID-19 in the recipients. "Levels of neutralising antibodies as well as T cell responses, according to different investigators, are indirect indicators of protection,” Bal said. "The interim results so far show that Covishield vaccination induces robust neutralising antibodies against the original SARS-CoV2; Covaxin also does it but somewhat less efficiently,” she added. "Against later variants of the virus such as Delta and Omicron, especially Omicron, neutralising antibodies triggered by Covishield are not as effective, however, they appear marginally better than in Covaxin recipients," Bal added. Prior studies comparing Covishield and Covaxin were limited to addressing only antibody responses and in particular in the health care worker population who were immunised prior to the Delta wave. There is, however, limited data on cellular immune responses elicited by these vaccines and no direct head to-head comparisons or stratification by pre-vaccination serostatus. Vaccination following exposure to the Delta or Omicron variants of SARS-CoV-2 is likely to affect the quality, quantity and duration of immune responses. For determining future COVID-19 vaccination policy when pan-coronavirus or sarbecovirus vaccines become available, it becomes important to take into account pre-vaccination immune history of the majority of the vaccinated Indian population. "Some unpublished work from other investigators in India seems to suggest that heterologous boosting i.e. Covaxin in Covishield recipients and vice versa works better than homologous boosting," Bal added.

Covishield immune responses against Covid variants higher than Covaxin: Study

<ul><li>India’s largest <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) has put out an official notification for recruitment of Officers in Grade B. </li><li>As many as 199 vacant positions are there in the Department of Economic and Policy Research and Department of Statistics and Information Management. </li><li>The bank will offer a starting salary of ₹35,150 per month. In the case of candidates with high academic qualification or a prior experience in banking, the bank may extend upto four advance increments to its employees. </li><li>Other perks include Bank's accommodation, reimbursement for vehicle maintenance, phone bills, newspaper among others.</li></ul>The Reserve Bank of India (RBI) has put out an official notification for recruitment of Officers in Grade B. With this, the central bank plans to hire for as many as 199 vacant positions. This includes vacancies in the Department of Economic and Policy Research (DEPR) and Department of Statistics and Information Management (DSIM). The interested professionals can apply on the <a href="https://www.rbi.org.in/scripts/Bs_viewcontent.aspx?Id=3766">official website</a> of Reserve Bank of India and the last date to apply is October 11. The candidates shall be posted across locations in India, depending on the requirements. The selected candidates will be a part of Combined Seniority Group, which will decide the ranking according to the seniority levels of the Officers. Salary and other perks The bank will offer a starting salary of ₹35,150 per month. However, in the case of candidates with high academic qualification or a prior experience in banking, the bank may extend upto four advance increments to its employees. Other than that, the hired candidates will also be eligible for dearness allowance, local allowance, house rent allowance, family allowance, and grade allowance as per the bank’s policy. The employees also have the flexibility to opt for residential accommodation on lease. The selected candidates will also be a part of government’s New Pension Scheme (NPS). Other perks include Bank's accommodation, reimbursement for vehicle maintenance, phone bills, newspaper among others. The bank also provides its employees a Leave Fare Concession (LFC) that renews every two years. Age and eligibility The candidates applying for the vacancies at the bank must be aged between 21-30 years. However, the upper age limit may be relaxed for reserved categories. The minimum educational qualification of a candidate applying for the post of Officers in Grade 'B' General is a bachelor’s degree with at least 60% marks. While for the Officers in Grade 'B' (DR) - DSIM will require a postgraduate degree in Statistics, Mathematical Economics, Econometrics or Statistics &amp; Informatics from elite institutions including IIT-Kharagpur, IIT-Bombay. The applicant can also be a postgraduate from <keyword id="6528736" type="COMPANY" weightage="20" keywordseo="indian-statistical-institute">Indian Statistical Institute</keyword> with a minimum of 55% marks.

Nearly 200 high-paying officer-level jobs have opened up at the Reserve Bank of India

A clinical intervention, which involved the administration of an injection of a commonly used local anaesthetic agent, costing as low as Rs 100 has been developed by doctors at the <keyword id="237719" type="General" weightage="100" keywordseo="tata-memorial-centre" source="Orion">Tata Memorial Centre</keyword> (TMC) to increase breast cancer cure and survival rates, the hospital said on Monday. The study by a team from TMC, a premiere cancer institute under the Centre's Department of Atomic Energy, over a decade led to the development of the intervention with higher efficacy. "The research has suggested there is a window of opportunity just prior to, during, and immediately after surgical removal of primary cancer when anti-cancer interventions could reduce the risk of development of disseminated stage-four metastatic cancer later in the lifespan of the patient," the hospital said. The study, titled 'Effect of Peri-tumoral <keyword id="14970431" type="General" weightage="50" keywordseo="infiltration-of-local-anaesthetic-prior" source="Orion">Infiltration of Local Anaesthetic Prior</keyword> to Surgery on Survival in Early Breast Cancer', is a randomised controlled trial conceived and designed by <keyword id="1254317" type="General" weightage="80" keywordseo="dr-rajendra-badwe" source="Orion">Dr Rajendra Badwe</keyword>, who is the principal investigator. The study was conducted by investigators at 11 cancer centres in India including Tata Memorial Centre in Mumbai over 11 years between 2011 and 2022. "The results of this study show this simple, low-cost intervention significantly and substantially increases the cure rates and survival of breast cancer patients, with a benefit that is ongoing for several years after surgery. "The injection requires no additional expertise, is inexpensive, and can result in saving up to 1,00,000 lives annually globally. These benefits are substantial and were achieved with an intervention the cost of which was less than Rs 100 per patient," the statement added. The study included 1,600 women with early breast cancer who were planned to be treated with surgery. Half of these patients (the control group) received standard surgery followed by standard postoperative treatment, including chemotherapy, hormone therapy and radiotherapy as per guidelines. The other half, constituting the intervention group, received an injection of a commonly used local anaesthesia agent, 0.5 per cent lidocaine, all around the tumour, just before surgery. They then underwent standard surgery followed by the same postoperative treatment as was given in the control group, it said. The research has suggested there is a window of opportunity just before, during, and immediately after surgical removal of primary cancer when anti-cancer interventions could reduce the risk of development of disseminated stage four metastatic cancer later in the lifespan of the patient. "<keyword id="2594776" type="General" weightage="80" keywordseo="lignocaine" source="Orion">Lignocaine</keyword>, which is a commonly used, inexpensive, local anaesthesia drug, was thought to be one such suitable intervention because of its inhibitory effects on cancer cell division, movement and other anti-cancer properties," the hospital's statement informed. After completion of treatment, patients were followed up regularly for several years to compare the rates of cure and survival between the control group and the local anaesthesia group. After enough follow-up had happened in both groups, the data were analysed at a cut-off date of September 2021, the statement said. "There was no toxicity of lignocaine in patients who received it. The six-year disease-free survival (cure rate) was 81.7 per cent in the control group and 86.1 per cent in the local anaesthesia group for a 26 per cent relative reduction in the risk of cancer relapse or death with the local anaesthesia injection, which was statistically significant," it said. Similarly, the six-year overall survival was 86.2 per cent versus 89.9 per cent in the two groups for a 29 per cent reduction in the risk of death with the local anaesthetic injection, which was also statistically significant, the statement pointed out. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/nifty-crosses-the-18000-level-amid-fii-inflows-and-positive-global-trends/articleshow/94168647.cms">Nifty crosses the 18,000 level amid FII inflows and positive global trends</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/top-business-schools-in-india-as-per-financial-times-rankings/slidelist/94168675.cms">IIM Bangalore and 6 other Indian business schools make it to FT's Top 100</a>

Tata Memorial Centre, doctors from 11 institutes develop low-cost clinical intervention for cancer treatment

Last week, the <keyword id="6356662" type="General" weightage="100" keywordseo="singapore" source="Orion">Singapore</keyword> Tourism Board (STB) announced visitor numbers to the city-state which topped expectations with over 2.9 million arrivals in the first three months of this year. This is 62 per cent of 2019's first quarter figure of the 4.7 million people who visited Singapore in the first quarter of 2019. A total of 193,230 of these came from India which is about 3.5 times more than the 54,530 who arrived in 2022. Indian residents are the fourth largest source of tourist arrivals in the first quarter after Indonesians (523,300), Malaysian (278,910) and Australians (265,730). Americans made up the fifth largest group of visitors by country of origin at 168,960. China which was the largest source of tourists for Singapore with over 3.75 million visitors in 2019 have yet to fully return to Singapore and made up the ninth largest group of tourists in Q1 with only 124,560 coming to Singapore. In 2019, based on figures from China's National Bureau of Statistics, Chinese tourists made nearly 170 million trips abroad. Although China has lifted travel restrictions, cumbersome travel processes targeted at Chinese residents by countries like South Korea and Japan earlier this year dampened the enthusiasm for outboard travel. This has been exacerbated by delays in passport renewals and visa applications as well as the inability of Chinese airlines to mount the same number of flights as before COVID. Based on data from Alibaba-owned travel booking site Fliggy, during February, international flights out of China are at less than 10 per cent of 2019 levels. Furthermore, the travel habits of Chinese citizens have been changed by three years of COVID-19 restrictions with many now contented to explore the vast and varied attractions in their own country. "The Chinese tourists we will welcome this year and in the coming years are very different from those who came before," Wolfgang Georg Arlt, founder and chief executive of COTRI (Chinese Outbound Tourism Research Institute), was quoted by CBNC as saying at ITB Berlin, the world's largest tourism trade fair. COTRI is an independent consulting company based in Germany. In China as elsewhere, years of pandemic-induced lockdowns sparked a shift away from major tourist attractions toward "more nature-orientated, more outdoor-orientated tourism," Arlt said. He highlighted the emergence of trends like camping and glamping, as well as family-focused trips. COTRI predicts that Chinese outbound travel will recover to around two-thirds of 2019's figures, with around 110 million overseas trips this year. In the meantime, the Singapore Tourism Board is not waiting for Chinese tourists' return to launch new activities and attractions to boost tourism on the island. To inspire travel to Singapore through TV series and films, STB together with the Infocomm Media Development Authority (IMDA) announced the launch of an SGD 10 million (USD 7.5 million) Singapore On-screen Fund. The fund aims to support international media and entertainment (M&amp;E) partners in marketing Singapore through television and film shows aimed at an international audience. The Singapore On-screen Fund will support selected projects by key M&amp;E companies, which must be set in Singapore and launched before the first quarter of 2027. Successful projects will receive funding support of up to 30 per cent of qualifying costs related to featuring Singapore, including production and marketing costs. This is in part inspired by past collaborations which resulted in movies such as "Crazy Rich Asians", the popular K-drama "Little Women (2022) and the HBO sci-fi hit series "Westworld Season 3" (2020). These shows created an international impact and left a positive impression on audiences around the world. Also just announced in April is the return of the Free Singapore Tour which is very popular with Indian tourists as well as those from Australia and Indonesia. The tour was suspended during COVID. This tour is organised by STB together with Changi Airport and is meant for transit passengers at Changi who have a layover period of at least five and a half hours but less than 24 hours. They must also have valid entry visas for Singapore to take part in the tours. The objective of organising these free tours is to entice transit passengers to make Singapore a destination for their next holiday. The original three tours available before COVID - the City Sights Tour, Heritage Tour and Jewel Tour - have been refreshed to include new points of interest. A brand-new Changi Precinct tour will introduce travellers to the interesting sights and sounds of the eastern region surrounding Singapore Changi Airport. Each tour lasts two and a half hours and will be available daily, with plans to progressively increase to nine tours a day. In 2019, over 80,000 passengers went on the Free Singapore Tour. Another exciting development is the stationing of a brand-new Disney Cruise Line ship in Singapore from 2025 for five years. A memorandum of understanding between STB and Disney Cruise Line was announced on March 29. The 208,000 gross-ton ship which will have a passenger capacity of about 6,000 plus a crew strength of 2,300 will be taking passengers for cruises around Southeast Asian countries, home to more than 40 UNESCO World Heritage Sites. The Disney Cruise Line ship has the potential to add millions of local and foreign cruise passengers during the five-year period, including fly-cruise passengers who arrive in Singapore by air. It is also expected to bring about significant spillover benefits for the wider economy. "We look forward to welcoming the magic of Disney Cruise Line to Singapore in 2025," said Keith Tan, Chief Executive of STB. "This is an important milestone for STB and reflects Disney Cruise Line's strong confidence in Singapore and Southeast Asia. The new Disney cruise ship will be an attraction itself and is expected to boost the tourism sector in Singapore for many years to come."

As Indian visitors surge, Singapore tourist arrivals now at two-thirds pre-Covid levels

<ul><li>The Human Resource &amp; Development Ministry (MHRD) will launch a course in aerospace engineering. </li><li>The course will be available online from 29 July. </li><li>It will include six courses, imparting knowledge on designing, manufacturing and maintenance of spacecraft, aircraft, missiles in aerospace engineering. </li><li>In India, the annual compensation of aerospace engineers is nearly ₹867,543. </li></ul>Soon after India launched <keyword id="53289" type="PERSON" weightage="20" keywordseo="Chandrayaan-2">Chandrayaan-2</keyword>, its second mission to the moon, the Human Resource &amp; Development Ministry (MHRD) said that its ‘Swayam’ portal will offer online courses in aerospace engineering. The course will be available online from 29 July. Launched by the Indian government, Swayam provides open online courses with teaching and learning resources to its citizens. “ISRO will go ‘back to the moon’ today. Learn Aerospace Engineering with Swayam, who knows, if you are a part of the journey the next time,” the Human Resource Development (HRD) Ministry said in a tweet. 
 
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 The portal will have six courses that provide knowledge on designing, manufacturing and maintenance of spacecraft, aircraft, missiles in aerospace engineering. Indian <keyword id="49737" type="COMPANY" weightage="20" keywordseo="IITs">IITs</keyword> will also offer several courses to enhance the learning in the domain. The Indian Institute of Technology (IIT) Kanpur will conduct a three month long ‘Aircraft stability and control’ course and ‘Design of fixed wing unmanned aerial vehicles’ course for two months, under the initiative. It will also conduct ‘Introduction to rocket propulsion’ course for three months. In the aerospace domain, IIT Bombay will also launch a three month long course on ‘Introduction to aerospace engineering/flight’ imparting the basics of aerospace engineering. ‘Vibration and structural dynamics’ course will be conducted by IIT Kharagpur. The demand for Aerospace engineers has been on the rise, globally. According to the Bureau of Labor Statistics, the sector will create jobs at a rate of 6% by 2026. In India, the annual compensation of aerospace engineers is nearly ₹867,543. See also: <a href="https://www.businessinsider.in/jee-candidates-can-apply-for-uk-queens-university/articleshow/69922025.cms">Those who clear India's Joint Entrance Examination (JEE) may get a shot at UK's Queen's University</a> <a href="https://www.businessinsider.in/watch-the-spectacular-launch-of-chandrayaan-2-indias-moon-mission-that-cost-less-than-avengers-endgame/articleshow/70328691.cms">Watch the spectacular launch of Chandrayaan-2 — India's moon mission that cost less than Avengers: Endgame</a> <a href="https://www.businessinsider.in/after-chandrayaan-2-launch-isro-chief-k-sivan-lists-out-the-tasks-cut-out-for-the-moon-mission/articleshow/70329956.cms">ISRO Chief K Sivan says Chandrayaan 2 "bounced back with flying colours" but that task is not over yet</a>

Indian government launches online aerospace engineering course for those who aspire to reach the moon

<ul><li>The demand for <keyword id="1096926" type="PERSON" weightage="20" keywordseo="Data-scientists">data scientists</keyword> has gone up significantly as India embraces digitisation. </li><li>According to Ashish Malhotra, director at <keyword id="8451786" type="UNKNOWN" weightage="20" keywordseo="bitgrit-japan">bitgrit Japan</keyword>, <keyword id="771372" type="ORGANIZATION" weightage="20" keywordseo="data-analytics">data analytics</keyword> is a subset of <keyword id="6357343" type="UNKNOWN" weightage="20" keywordseo="Data-Science">data science</keyword>. </li><li>Mathematics and analytical bent of mind are the key skills that form the core of a <keyword id="7820513" type="UNKNOWN" weightage="20" keywordseo="data-science-career">data science career</keyword>.</li></ul>The demand for data scientists has gone up significantly as India embraces digitisation. This new coveted job role however, is not limited to data analytics only. In an interview with Business Insider, Ashish Malhotra, director at bitgrit Japan — a global data science community — said that data analytics is just a single subset of data science. “Data is sentiments, behaviour and patterns. And data science is a predictive analysis to identify outcomes from raw data. If we apply predictions, the pattern will change,” he said. Data science is a broad field with applications across industries and academia. It is a blend of mathematics, statistical analysis and <keyword id="107950" type="TECHNOLOGY" weightage="20" keywordseo="artificial-intelligence">artificial intelligence</keyword> (AI). The experts in the field, called data scientists adopt techniques and tools to draw insights and derive solutions for real-time problems. This includes data mining, statistical modeling, pattern recognition and data visualization. Data analytics, on the other hand, focuses on processing the data — which includes extraction, cleaning and moving the data to create datasets and present the data. “Where there is data, you need statistics,” Malhotra said. Key skills to become a data scientist According to him, mathematics and analytical bent of mind are the key skills that are core to a data science career. Overall, data science includes software development and implementation of coding languages, and statistical evaluation of data. Python and R, SQL (Structured Query Language) are the <a href="https://www.businessinsider.in/python-r-machine-learning-sql-top-skills-to-become-a-data-scientist/articleshow/70738261.cms">top programming languages required to become a data scientist</a>, according to Deepak Mahtani, community manager in Data Science. In addition to this, cloud technologies like Azure, <keyword id="141088" type="COMPANY" weightage="20" keywordseo="Amazon-Web-Services">Amazon Web Services</keyword> (AWS) and Google Cloud are necessary while working with data. Transitioning from <keyword id="625014" type="ORGANIZATION" weightage="20" keywordseo="Software-engineering">software engineering</keyword> to a data science career Making the change into a data science is not tough for a software engineer. Malhotra says that software engineers can be trained in data science within three months -- due to their knowledge of programming languages. “If they know coding, adapting to the data science libraries such as SAS, MATLAB and Hadoop is pretty easy. Most important is analytical skills to make inferences from the data,” he said. An emerging opportunity While emerging technologies are being used to reduce human task, they still require manual intervention for efficiency. The more India automates, more will it need experts who can facilitate it. As per <a href="https://www.businessinsider.in/big-data-and-analytics-may-be-the-hottest-sector-but-india-has-a-serious-dearth-of-data-scientists/articleshow/66860305.cms">LinkedIn</a>, India is estimated to have less than 10% of data scientists available globally — which explains the rise in demand. As of now, nearly 50,000 jobs in data and analytics are lying vacant in the country, shows a survey done by Analytics Vidhya and ed-tech platform Great Learnings. “AI &amp; ML tools are being used across the lifecycle of workflows and projects across organisations. Given that, companies need to hire employees who drive business value from their data and analytics capabilities, Neeti Sharma, Senior VP, Teamlease Services told Business Insider. See also: <a href="https://www.businessinsider.in/careers/news/ai-and-machine-learning-jobs-are-in-demand-but-hiring-is-difficult/articleshow/72879872.cms">Indian CEOs are having a tough time retaining AI, ML, and data science experts</a> <a href="https://www.businessinsider.in/education/news/iit-roorkee-collaborates-with-bitgrit-japan-to-host-datathon-at-the-inter-iit-tech-meet/articleshow/72508674.cms">India’s best young minds will come together to find an algorithm that can cut risk on forex positions</a> <a href="https://www.businessinsider.in/careers/news/the-dean-of-iit-roorkee-says-what-you-learn-in-graduation-will-be-obsolete-in-3-years/articleshow/73029413.cms">The dean of IIT Roorkee says what you learn in graduation will be obsolete in 3 years</a>

It takes just three months for a software engineer to become a data scientist. Find out how

<ul><li><keyword id="55119" type="ORGANIZATION" weightage="20" keywordseo="Indian-Institute-of-Technology">Indian Institute of Technology</keyword> (IITs) had 7,248 dropout cases in the last five years. </li><li><keyword id="6354859" type="UNKNOWN" weightage="20" keywordseo="IIt">IIT</keyword> students will now be able to enroll in BSc courses after completing one year of BTech as the government approves ‘exit’ option. </li><li>In 2018, the IITs enrolled over 11,000 students in its undergraduate and postgraduate courses.</li></ul>Students at India’s elite engineering institutions Indian Institutes of Technology (IITs) will now be able to enroll in BSc courses after completing one year of BTech as the government approves ‘exit’ option. And this, coupled with jobs and other options — are making these prized students <a href="https://timesofindia.indiatimes.com/india/over-7000-exit-btech-in-iit-in-last-5-years-lose-coveted-tag/articleshow/72431217.cms">dropouts from engineering colleges</a>. In the last five years, as many as 7,248 students dropped out if IITs. The Ministry of Human Resource and Development revealed these statistics in the lower house of the parliament. Over 2,000 of them dropped out in the last two years — and a majority of them are those pursuing postgraduate courses and doctoral programmes. In 2018 alone, the IITs enrolled over 11,000 students across undergraduate and postgraduate courses. In the last two years, almost 1,400 students that left the course midway were from IIT’s Delhi and Kharagpur campuses. The MHRD also said that the rise in dropouts at the postgraduate level may be due to lucrative job offers extended by the companies during the course. Dropouts at the postgraduate level According to PTI, postgraduate programmes at IITs recorded a dropout rate of over 50%. “Many students take admission into M.Tech programmes and over 50% of them quit as soon as they find a job," IIT-Delhi Director V Ramgopal Rao had<a href="https://economictimes.indiatimes.com/industry/services/education/dropout-in-iits-m-tech-over-50-fee-hike-surgical-strike-on-uninterested-students-iit-delhi-head/articleshow/71360849.cms"> said</a>. Masters students however could also be quitting as they are being offered jobs at state-owned firms, especially in Delhi. “On some occasions, we saw 60 students drop out from an M.Tech batch of 80. Then, we were forced to run the programme with just 20 students,” The Print <a href="https://theprint.in/india/education/2400-students-dropped-out-of-iits-in-2-years-nearly-half-were-sc-st-obc/268626/">reported</a> citing Dheeraj Sanghi, a professor at IIT Kanpur. "Over 50 per cent dropouts in masters programmes today in IITs only means that students value the jobs they get after their B.Tech more than the career they can build with their M.Tech degrees. How can we spend taxpayers money to offer free education to them, when they themselves see no value in such an education?” Rao added. The institutes are now conducting regular counselling for academically weak students. See also: <a href="https://www.businessinsider.in/hrd-ministry-launches-online-aerospace-engineering-courses-on-swayam-portal/articleshow/70361436.cms">Indian government launches online aerospace engineering course for those who aspire to reach the moon</a> <a href="https://www.businessinsider.in/three-out-of-four-graduates-from-iit-nit-iiit-got-jobs-via-campus-placements-government-data-shows/articleshow/70258577.cms">3 out of 4 graduates from top engineering colleges got jobs via campus placements, government data shows</a> <a href="https://www.businessinsider.in/6000-teaching-vacancies-in-iits-and-nits/articleshow/70168945.cms">IITs, NITs are facing a dearth of teachers as 6,000 posts lie empty</a>

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