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The Indian stocks market crashed early on Friday, with the Sensex falling 1,100 points as <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> fears deepened. At 9.50 a.m., the <keyword id="53232" type="COMPANY" weightage="20" keywordseo="BSE-sensex">BSE Sensex</keyword> was trading at 38,597.53, lower by 1,148.13 points or 2.89 per cent from the previous close of 39,745.66. It had opened at the intra-day high of 39,087.47 and has so far touched a low of 38,587.51 points. The Nifty50 on the <keyword id="53581" type="COMPANY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> was trading at 11,297.45, lower by 335.85 points or 2.89 per cent from its previous close. Concerns of coronavirus turning into a pandemic and spreading into <keyword id="6407494" type="UNKNOWN" weightage="20" keywordseo="countries">countries</keyword> outside China have off late impacted investor sentiments both in the global and domestic markets.

Sensex sheds 1,100 points as coronavirus fear grips the market; Nifty loses 335

<ul><li><keyword id="496245" type="General" weightage="100" keywordseo="suryakumar-yadav" source="Orion">Suryakumar Yadav</keyword> on Wednesday became the world's number one batsman in T20 internationals.</li><li>Yadav overtook Pakistan opener <keyword id="292844" type="General" weightage="80" keywordseo="mohammad-rizwan" source="Orion">Mohammad Rizwan</keyword> to become just the second Indian player to hold the top T20I batter ranking.</li><li>Yadav has accumulated 863 points with Rizwan at 842 points.</li></ul>The swashbuckling Suryakumar Yadav on Wednesday became the world's number one batter in T20 Internationals, rising to the top on the back of his incredible form in recent times. Yadav overtook Pakistan opener Mohammad Rizwan to become just the second Indian player to hold the top T20I batter ranking. Since beginning his T20I journey for India in March last year, Yadav has quickly established himself as one of the best batters in the shortest format of the game, scoring one century and 11 fifties from 37 appearances for his country. The 32-year-old Yadav has also played 13 ODIs for India. Yadav has accumulated 863 points with Rizwan at 842 points. New Zealand's Devon Conway completes the top three with 792 points. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/cbdc-trial-a-landmark-moment-in-the-history-of-money-shaktikanta-das/articleshow/95250548.cms">CBDC trial a landmark moment in the history of money: Shaktikanta Das</a> <a href="https://www.businessinsider.in/tech/all-you-need-to-know-about-twitters-blue-tick-and-why-elon-musk-wants-you-to-pay-for-it/slidelist/95246904.cms">All you need to know about Twitter’s Blue Tick and why Elon Musk wants you to pay for it</a>

India's Suryakumar Yadav becomes the world's No 1 T20I batsman

<ul><li><keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword> announced a 35-basis point rate hike on Wednesday, after three consecutive 50 bps rate hikes earlier.</li><li>However, RBI governor <keyword id="6359111" type="General" weightage="50" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword>’ commentary on inflation being “sticky” has been perceived as being slightly hawkish by analysts.</li><li>Overall, Das’ statement today indicates that there will be another rate hike in February next year, likely around 25 basis points.</li></ul>The <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword><a href="https://www.businessinsider.in/finance/news/rbi-hikes-repo-rate-by-35-bps-taking-rates-to-a-high-of-6-25/articleshow/96045841.cms"> announced a 35-basis point rate hike</a> on Wednesday, in line with analyst expectations. While it is a downshift from the earlier triple 50 bps rate hikes, RBI governor Shaktikanta Das’ commentary is still slightly hawkish, according to analysts. Overall, the<a href="https://www.businessinsider.in/finance/news/slower-rate-hikes-on-the-cards-say-analysts-ahead-of-rbis-december-monetary-policy-meet/articleshow/95881537.cms"> consensus</a> amongst analysts was for a 25-35 basis points rate hike, and Das himself acknowledged that the bank and market’s views converged this time. However, Das reiterated that the fight against inflation was not over and that the central bank was watching it keenly - with “Arjuna’s eye” – a reference to the keen powers of concentration of a key hero in the epic Mahabharata. While announcing the rate hike today, Das also said that further calibrated monetary policy action was needed to keep inflation expectations anchored – indicating future rate hikes. “On balance, the MPC was of the view that further calibrated monetary policy action is warranted to keep inflation expectations anchored, break core inflation persistence and contain second round effects. These actions will strengthen the medium-term growth prospects of the Indian economy,” Das said. So far, RBI has announced five rate hikes, totalling 225 basis points. With the latest hike, the <keyword id="43352" type="General" weightage="20" keywordseo="repo-rate" source="Orion">repo rate</keyword> stands at 6.25%. Analysts suggest there could be a 25 basis point hike in February next year, which would take the repo rate to 6.5%. <cmsannotation type="cmsannotation" annotationid="Sticky inflation makes the case for another rate hike, say analysts" comment="subhead" text="Sticky inflation makes the case for another rate hike, say analysts">Sticky inflation makes the case for another rate hike, say analysts</cmsannotation> Das underlined that while the inflation target for FY23 remained unchanged at 6.7%, it was still above RBI’s upper tolerance band of 6%. He also said that while the central bank expects food inflation to soften, the core inflation excluding food and fuel remains sticky. Das underlined that the prices of cereals, milk and spices remain pressure points. “The battle against inflation is far from over; we remain on guard. We have lowered the size of the hike, which is important and tells you of a shift,” said RBI deputy governor Michael Patra in a press conference, adding that the worst of inflation was over. This, according to analysts, makes the case for another rate hike. “RBI indicated a further calibrated rate hike, as headline inflation will remain above the target of 6% till Q4 FY23. This implies a 25 bps rate hike in February 2023,” said Amar Ambani, head, institutional equities, Yes Securities. While the quantum of rate hikes has come down, Das’ comments were seen by analysts as being slightly hawkish with RBI’s stance on inflation and rate hikes remaining unchanged. “In our view, today’s policy is somewhat more hawkish than expected with sticky and elevated core inflation being an additional focus,” said Garima Kapoor, economist, Elara Capital. While RBI’s rate hike was in line with analyst expectations, the commentary on inflation was not as widely expected. “Summarising, rate hike as per expectations, commentary hawkish, which was not expected but is appropriate, and overall, a good policy which should give confidence to bond markets in the long run,” said Sandeep Bagla, CEO, Trust Mutual Fund. <cmsannotation type="cmsannotation" annotationid="Domestic data, global developments to influence monetary policy" comment="subhead" text="Domestic data, global developments to influence monetary policy">Domestic data, global developments to influence monetary policy</cmsannotation> Das said the inflation target for FY23 was unchanged, but it should come down to 5% in Q1 FY24, and edge up to 5.4% in Q2 FY24, assuming a normal monsoon. RBI also <a href="https://www.businessinsider.in/finance/news/rbi-downgrades-fy23-gdp-growth-projections-to-6-8-percent/articleshow/96047963.cms">downgraded</a> its GDP growth outlook for FY23 to 6.8% from 7% it had predicted in September this year. Analysts say RBI was likely to wait to see the impact of rate hikes so far, since monetary policy tightening has a delayed impact. “Going forward, RBI’s policy decision would not just be dependent on domestic data but also the developments on the global front. As real rate of interest moves to the positive territory, RBI would like to wait and watch the implications of the rate hikes so far,” said Rajani Sinha, chief economist, CareEdge. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/rbi-hikes-repo-rate-by-35-bps-taking-rates-to-a-high-of-6-25/articleshow/96045841.cms">RBI hikes repo rate by 35 bps, taking it to 6.25% – Das says bank has ‘Arjuna’s eye’ on inflation</a> <a href="https://www.businessinsider.in/personal-finance/news/be-prepared-to-pay-higher-emis-no-room-for-loan-tenor-increase-after-rbis-latest-rate-hike/articleshow/96052276.cms">Be prepared to pay higher EMIs: No room for loan tenor increase after RBI’s latest rate hike</a> <a href="https://www.businessinsider.in/finance/news/rbi-downgrades-fy23-gdp-growth-projections-to-6-8-percent/articleshow/96047963.cms">RBI downgrades FY23 GDP growth projections to 6.8% - lower than World Bank and other global agencies</a>

RBI’s lower rate hike as expected, but Das’ commentary still hawkish, say analysts

<ul><li>The BSE Sensex climbed 1,430 points and was up at 29,956 points. </li><li>Nifty50 gained 4.7% and stood at 8,710. </li><li>Indian Banks were among the top gainers in the early trade hours.</li><li>Dow Jones Industrial Average increased 2.39%, but Nasdaq Composite lost 33.56 points.</li></ul>The Indian equity stocks rallied on Wednesday during the morning trade. The BSE Sensex climbed up to 29,956 levels or 1,430 points up, and Nifty50 was at 8,710 points, up from 8,365 levels at the opening hours. The S&amp;P BSE MidCap index and the S&amp;P BSE SmallCap index were up by over 2%. All sectoral indices are trading in the green. Four out of top five gainers on the Sensex from the financial space. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Sensex gainers </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">At 10:15 am </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+19.99% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+9.99% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+9.37% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+8.19% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+8.00% </td></tr></tbody></table> HCL, IT giant and Reliance were among the top five losers of Nifty. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty losers </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">At 10:30 am </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL TECH </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.20% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IOC </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.61% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.39% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RELIANCE </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.61% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.48% </td></tr></tbody></table> The Indian market got some fillip from Wall Street, where the Dow Jones rallied 11% ⁠— it was the best day for the benchmark index in 87 years— before the US Senate approved the $2 trillion economic stimulus package proposed by President Donald Trump. However, the mood in rest of Asia was cautious. The Chinese exchange, Shanghai Composite, was up by 0.04%, the Japanese Nikkei was down by 3.96%, and the Hong Kong-based Hang Seng was down by 0.04%. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/coronavirus-dos-and-donts-for-protection-against-convid-19/articleshow/74475858.cms">Do’s and Don’ts for protection against COVID-19</a> <a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a>

Sensex gains 1,430 points, Nifty above 8,700 mark, banks among the top gainers on the equity indexes

World markets are in the green early Monday, extending a recovery that follows a slump in oil prices and the dramatic slide of the Russian ruble.
"Overall the concerns (about the plunge in oil prices, Russia and Greece) are fading into the background a bit," <a href="http://www.reuters.com/article/2014/12/22/us-markets-global-idUSKBN0K000B20141222">Sybren Brouwer,&#xa0;head of equity strategy at ABN Amro, told Reuters</a>.&#xa0;
Here's the scorecard, so far:
France's CAC 40 is up&#xa0;0.97%
Germany's DAX is up&#xa0;0.72%
Britain's FTSE 100 is up 1.00%
Spain's IBEX is up 0.43%
Italy's FTSE MIB is up&#xa0;1.09%
Asian markets closed in the green.&#xa0;Japan's Nikkei&#xa0;closed up 0.08% and&#xa0;Hong Kong's Hang Seng closed up 1.26%.&#xa0;
US futures are also up.&#xa0;The Dow&#xa0;is up 38 points,&#xa0;the S&amp;P 500&#xa0;is up 3.6 points, and NASDAQ is up 9.75 points.
In Europe, December consumer confidence will be released at 3 p.m. GMT.
And later in the US, the&#xa0;National Association of Realtors will publish existing home sales data at 3 p.m. GMT (10 a.m. ET).&#xa0;Economists estimate the pace of sales fell 1.1% in November to an annualised rate of 5.20 million.

Markets Around The World Are Rallying 

European markets are up early Tuesday, after final <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> GDP figures <a href="http://uk.businessinsider.com/uk-gdp-grew-by-07-in-the-three-months-2014-12">showed that country's economy is growing at a slightly slower rate than expected</a>.&#xa0;
Here's the scorecard:
France's CAC 40 is up&#xa0;0.48%
Germany's DAX is flat.&#xa0;
Britain's FTSE 100 is up 0.26%
Spain's IBEX is down 0.12%
Italy's FTSE MIB is up 0.48%
Asian markets closed down slightly. Japanese markets are shut for the the Emperor's birthday holiday.&#xa0;Hong Kong's Hang Seng closed down 0.32%.&#xa0;
US futures are up slightly.&#xa0;The Dow&#xa0;is up 19 points,&#xa0;the S&amp;P 500&#xa0;is up 1.3 points, and NASDAQ is up 2 points.
Figures from the&#xa0;<a href="http://www.ons.gov.uk/ons/rel/naa2/quarterly-national-accounts/q3-2014/index.html">Office for National Statistics (ONS) released on Tuesday</a>&#xa0;show that&#xa0;UK gross domestic product (GDP) grew by 0.7% in the three months to September compared with the previous quarter from April to June. GDP in the third quarter of 2014 grew by 2.6% year-on-year, revised down from the original estimate of 3%. The ONS also reported that the UK's current account deficit, which is a&#xa0;measure of trade between the UK and the rest of the world in goods, services, and investments, soared to&#xa0;£27 billion in the third quarter.&#xa0; Meanwhile, it's going to be a busy day for US economic data.&#xa0;Stay tuned for&#xa0;<a href="http://www.businessinsider.com/monday-scouting-report-dec-22-2014-2014-12">fresh data on durable good orders, GDP, income, spending, and consumer confidence</a>.&#xa0;

European Markets Are Up

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>The New York Giants beat the Miami Dolphins last night to snap a three-game losing streak and stay alive in the mediocre NFC East race, in no small part because of Eli Manning and - guess who? - Odell Beckham Jr.&#xa0;Beckham caught seven passes for 166 yards and two second-half touchdowns on Monday night,&#xa0;despite suffering from a stomach bug that forced him to get two IVs at halftime. And his two touchdowns were routine only by Beckham's standards, which of course is to say not routine in the slightest.His first came with 5:01 left in the 3rd quarter, the Giants trailing 24-17. Manning rolled out of the pocket and found Beckham in the front corner of the end zone, falling out of bounds. Somehow, he managed to keep both feet in to secure the six points.&#xa0;The body control here is other-worldly:<div><div style="width: 100%; height: 0px; position: relative; padding-bottom: 56.206%;"></div></div>In real time the nearest&#xa0;referee whistled the play&#xa0;incomplete, to which&#xa0;Beckham nearly lost it in&#xa0;protest. He knew he'd caught the pass and kept his feet in bounds, so the Giants challenged and a touchdown it was.Fast forward to the 4th quarter, 11:13 left. Beckham ran a slant-and-go route. Dolphins safety Reshad Jones misread the play as&#xa0;just a slant and jumped the route, which resulted in a wide-open Beckham and an 84-yard go-ahead score.<div><div style="width: 100%; height: 0px; position: relative; padding-bottom: 55.937%;"></div></div>For Beckham, Monday night marked his sixth consecutive 100-yard game, just two shy of Calvin Johnson's NFL record from 2012. On Twitter, <a href="https://twitter.com/ktsharp">SB Nation's Katie Sharp</a> accumulated a few other stats that put Beckham's current run of form into perspective:<div></div>&#xa0;<div></div>&#xa0;<div></div>After the game, Beckham said at his locker that the Giants prepared for the Dolphins like a playoff game and must&#xa0;continue to do so over the next three weeks as they push for the post-season."It's a must-win, a playoff game for us," Beckham <a href="http://www.nytimes.com/2015/12/15/sports/football/odell-beckham-helps-giants-keep-playoff-hopes-alive.html?_r=0">said.</a> "They're all playoff games."The schedule down the stretch doesn't do Big Blue any favors, but their final three games (against the Panthers, Vikings, and Eagles) are all at home.Aside from Beckham, arguably the biggest takeaway from Monday's game is that the Giants finally held onto a 4th-quarter lead. As <a href="http://www.nytimes.com/2015/12/08/sports/football/giants-tom-coughlin-jets-loss.html">Bill Pennington noted in the New York Times</a> following the Giants' loss to the Jets last weekend, had&#xa0;every one of the Giants games ended 75 seconds earlier this season, they'd be 10-3. Instead they are 6-7, with just a 31% chance to win the division (<a href="http://projects.fivethirtyeight.com/2015-nfl-predictions/">per FiveThirtyEight</a>).Luckily, they've got a bone fide star in Beckham. They're going to need him. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/jim-cramer-on-how-to-win-fantasy-football-league-mad-money-cnbc-nfl-2015-12">Jim Cramer reveals how to win your fantasy football league</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="lhYnlneTrqPVJq4ZMzfAB2qgjpjP6HzX" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Odell Beckham Jr had another ridiculous performance despite needing 2 mid-game IVs

<div class="image-container float_right" style="width:401px"><div class="image"></div>The Minerva ProjectFounder and CEO Ben Nelson</div>There's a massive problem in <keyword id="6375224" type="ORGANIZATION" weightage="60" keywordseo="higher-education">higher education</keyword>. The number of people qualified to attend the world's best universities who don't get the chance to do so is growing. At the same time, the cost of attending college has risen to the point <a href="http://www.businessinsider.com/is-college-worth-it-2012-10">where people question its value</a>, and student debt is skyrocketing. 
<a href="http://www.minervaproject.com/">The Minerva Project</a> and its founder Ben Nelson, the former CEO of Snapfish, are making an ambitious effort to fight both problems.
Their goal is to attract the best and brightest young students in the world without a traditional campus, while charging tuition "substantially less than half" of what they do in the <keyword id="106608" type="ORGANIZATION" weightage="60" keywordseo="Ivy-League">Ivy League</keyword>.
Former <keyword id="53675" type="ORGANIZATION" weightage="60" keywordseo="harvard">Harvard</keyword> President and Treasury Secretary Larry Summers <a href="http://www.ft.com/intl/cms/s/0/25efa7a8-7d9e-11e1-bfa5-00144feab49a.html#axzz1s93r4JeC">chairs the advisory board</a>; and, former Nebraska governor, U.S. senator, and the New School president emeritus, Bob Kerrey, will be executive chairman of the Minerva institute. <keyword id="274436" type="COMPANY" weightage="60" keywordseo="Benchmark-Capital">Benchmark Capital</keyword>, one of the world's most prestigious venture capital funds, put $25 million into it during its very first round of fundraising. <a href="http://www.economist.com/blogs/schumpeter/2012/04/higher-education">The Economist</a> says it's "one of the biggest seed investments of a leading Silicon Valley venture firm ever."
The first class is expected in 2015. All courses will be taught in seminar form, via live streaming from around the world, giving the organizers an incredible amount of flexibility, which is at the core of what's an intriguing idea. 
Today <a href="http://www.prnewswire.com/news-releases/minerva-project-launches-the-minerva-institute-for-research-and-scholarship-appoints-former-senator-of-nebraska-bob-kerrey-as-executive-chairman-of-the-institute-186768111.html?utm_source=twitterfeed&amp;utm_medium=twitter">Minerva announced</a> the creation of the Minerva Institute for Research and Scholarship, which aims to solve two of the problems the project hadn't thoroughly addressed yet: research, and creating opportunities for every student. "That's effectively what this most recent announcement is about—the foundation of the Minerva Institute—which will have a role of both promoting scholarship for our students and getting them up the curve and learning how to be the world's most impactful creators, as well as supporting our faculty in their pursuit of generating meaningful knowledge, CEO Ben Nelson said."
In an interview with Business Insider, Nelson outlined the overall idea behind the school, how it plans to get both the world's best professors and highest-performing students on board, and how it's solving that thorny research problem. 
The bottom line? 
According to Nelson, Minerva's a response to an enormous demand gap, and to the fact that we need an elite university built for this century, not another built "in a 19th century context." 
"That's effectively what Minerva is, so we really are taking every aspect of the university and rethinking it from scratch, and imagining, if we wanted to create the world's greatest university today, what would it look like?"
That includes rethinking everything from how the faculty's assembled, to admissions policies, to tuition, to how students will live. 
The pitch that got Larry Summers, Bob Kerrey, and Benchmark on board. 
"The pitch for Minerva is actually very straightforward," says Nelson argues. It all comes down to supply and demand. There aren't nearly enough spots at elite schools for the students brilliant enough to attend them.
There hasn't been a new, elite research university created since the late 19th century. Since then, there's been a massive increase in demand as women and ethnic and religious minorities joined the pool. In response, elite universities increased their class size.
Then came the 1980s, which saw demand explode even more. The need for blind admissions policies, according to Nelson, "effectively quintupled" the market for elite universities. Then came the end of the Cold War. "When that happened the international demand jumped by a couple of orders of magnitude," Nelson said. And that's not just people who want to go, that's people who are absolutely qualified to. 
The response of elite universities? They froze the size of their incoming classes. "Effectively, the Ivy League's incoming class today hasn't even tracked population growth over the last 25 years," Nelson said. 
How big is the potential pool for Minerva? In Nelson's words, "very, very, very large."
"If you look at a traditional university, we characterize their admissions philosophy as having a high floor and a low ceiling. It means that it's obviously very difficult to get into any Ivy League university," Nelson said, "but, because of their capacity constraints, depending on factors that are completely nonacademic, your likelihood of getting in is dramatically different."
Think of <keyword id="33081" type="ORGANIZATION" weightage="60" keywordseo="Stanford">Stanford</keyword>, which just won the Rose Bowl. They only admit 1,700 hundred students, but have too many elite sports teams. Then you add the issue of diversity. Universities concentrate on that, and there's nothing wrong with that, but it does create a problem. "Because the highly qualified kid from New York doesn't have the 'right parents' or doesn't have the right throwing arm, he's kind of screwed," Nelson pointed out. 
The problem's even worse for international students. Seven percent of Stanford's class is non-American. Harvard accepts around eight students from China each year.
That leaves thousands, if not more, domestic Ivy League-caliber students who don't get into the Ivies or their peer institutions, and by Nelson's calculations, "orders of magnitude" more international students, because the U.S. is only five percent of the world's population. 
The pool gets even bigger when you look at the options available in students' home countries. Many countries may have top tier institutions in a few fields, but are completely lacking in others. 
"Let's say I'm a brilliant kid growing up in India. But I don't want to be a doctor and I don't want to be an engineer. Therefore, I don't want to go to IIT or IIS," Nelson said. "I want to be an economist, I want to study political science, I want to study philosophy. Right? Where do I go? There actually is not a single institution of the caliber of any top tier university in the world that teaches those subjects at an undergraduate level. So we provide that opportunity."
Assembling a world-class faculty without shelling out millions to poach them
Maybe the most important part of creating a new university to challenge the Ivies is getting world class faculty. Minerva doesn't want to go out and say, "We'll pay you 20 percent more if you come and leave Harvard and Yale and come to us." Nelson said, That's both very expensive, and worse, it's actually very bad for the industry.
What they do want to do is pick up the top talent that gets stuck in what Nelson calls "transition points"—the areas where bright people stall because there's simply no room. 
Nelson gave the example of a friend of his who teaches philosophy at Berkeley who described a grim job market for graduates. "There were two, and I kid you not, two postings for professors of logic open in the country," Nelson said. "I will tell you that there are more than two PhD graduates from excellent institutions who have concentrated in logic."
That's one of the four major transition points Minerva has identified—the transition from PhD to associate professor, where there simply aren't enough jobs. This is an opportunity to get formal training and experience in teaching, do research, and publish, which puts those graduates in a better position to move to a top tier institution. 
The second transition is from assistant to associate professor, where great professors don't quite get tenure. Nelson had an experience many people can relate to, where a beloved professor didn't get tenure because they hadn't published quite enough. "When you don't get tenure at Penn you don't wind up going to Princeton. Right? You wind up dropping a couple of 'tiers.'" 
Minerva hopes to provide an opportunity for these sorts of people to take a couple of years to publish and burnish their credentials so they don't necessarily have to drop down to a lower-tier institution just because their seven years ended at the wrong time for their department.
The third point is dual academic households. Think of a doctor who wants to go work at UCSF, but is married to an economist. UCSF is only a medical school, so what's his spouse going to do? Because Minerva faculty can teach from anywhere, it can help resolve what's become a significant problem.
The final option is emeritus professors who still want to work, but want to live somewhere other than the last place they happened to have taught. 
It's a faculty model that works with, rather than against, existing institutions, without having to pay massive salaries to poach people, and without sacrificing quality. 
Providing an opportunity to professors left behind by the current system is one part of building a great faculty. The other is the opportunity to do great research. Minerva doesn't want to build massive labs, but professors sometimes need them. They will provide all of the support needed to write grants, but the experience will be very unique.
"Whenever there's overhead that's necessary for a research project, it is built just in time, not necessarily built but actually charged for, outsourced," Nelson said. "So as an example, there are entire biotech companies now that don't own a single lab, what they do is outsource their experiments to labs in India and they get the results back and continue to iterate on them in that fashion, and those labs in India are open 24 hours a day, so there's absolutely no lag."
That doesn't mean researchers who want to work in a lab won't be able to find one, because they can live anywhere in the world. "For example, if they want to sit in a lab they can go and [collaborate] with a scientist in Germany, they can go to the Max Planck institute," Nelson explained, "and even though we pay their salary, they can be working alongside their colleague and sitting on their bench for free."
The same goes for professors who work extensively in the field.
The final point, which Nelson hopes will be particularly appealing, is that Minerva won't claim any part of the intellectual property researchers create because they won't be paying infrastructure costs, unlike Universities, which get a chunk and manage commercialization.
Getting students to take a chance 
Beyond the fact that there's a massive population of brilliant students who are effectively locked out of an Ivy caliber <keyword id="6355445" type="COMPANY" weightage="60" keywordseo="Education">education</keyword>, Nelson argues that Minerva has something to offer students, to convince them to take a chance on a new model.
"I think the preponderance of our students will come simply because they believe in what we want to do and are excited by our educational system," Nelson said. 
Additionally, the experience is going to be dramatically different from anything else available. "At Minerva we will facilitate and expect our students to live in 7 different countries by the time they graduate. So they live in the U.S. or their home country for their first year, going through our core curriculum, and then every semester thereafter they move from city to city, to the city of their choice," Nelson told us, "so they can go to Moscow and London, another student can go to Beijing and Mumbai, another student will go to Rio and Sydney, and another student will go to Johannesburg and Jerusalem."
They'll have residence halls in a range of cities, where students will live together, but no central campus. 
Additionally, everything will be in a seminar format. "There are no lectures at Minerva. Every single one of our courses is meant to provoke and actually change your perspective of the world."
Completely changing the admissions process
When it comes to aptitude, Nelson expects Minerva will be harder to get into than Harvard. 
Applicants will have to demonstrate the ability to handle an intellectually rigorous curriculum, with good grades and good test scores. But they won't have to write an essay. According to Nelson, people often just pay someone else to write their essays. "The more you pay someone the better your essay will be, and that's generally what happens," Nelson said. "We don't think that that's necessarily a fair thing to do."
What differentiates their admissions process is the interview. "We interview the students. And in the interview we'll actually do a battery of tests that will look at their potential as far as leadership, grit, creativity, analytics, etc."
So once you demonstrate that you're "Ivy caliber as far as smart," you have to show that you have these additional abilities to get in.
However, the big difference is that "if you pass those tests, you're in. There are no waiting lists, there's no well, we will get back to you later. If you pass our bar, you will have an opportunity to get into Minerva," Nelson said. 
"What will never happen at Minerva is a student who is qualified who meets our bar but we say, 'we already have too many of you, so you're rejected,'" Nelson said. 
The business side of the equation 
The first thing to realize is that Universities are an incredibly good business. "The fact that Harvard has a $37 billion endowment is not because it's a non-profit organization, it's because it's a for-profit organization, and rather than paying out taxes on its profits, it puts it on its endowment."
Minerva hopes, by being narrowly focused, appealing to a huge pool of untapped demand, and dramatically reducing costs, they can be a big player in that business.
They won't have an ever-increasing infrastructure, they won't have a University-sponsored athletic system, they won't have major labs, they won't offer courses and majors that require intensive lab resources, like mechanical engineering, and they'll have a vastly smaller administration. 
All of that means that they will take out an "enormous percentage" of the costs of running a University. They won't spend it on advertising like some lower end universities. 
Those savings are going to go into creating a good experience, and into lowering tuition dramatically. "We really are going to spread our message by going and identifying the best students and talking to them, which is far more capital efficient."
"Obviously room and board is room and board, we have to eat and we have to live, and we don't know how to make that much cheaper," Nelson said, "but we certainly know how to bring tuition dramatically down and we think that's going to be very important."
NOW READ: <a href="http://www.businessinsider.com/successful-liberal-arts-majors-2012-12">30 People With "Soft" College Majors Who Became Extremely Successful</a>

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