Validity of registration certificates under FCRA extended till Sept end

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New Delhi, May 19 | The Central government on Wednesday extended the validity of Foreign Contribution (Regulation) Act (FCRA) registration certificates of entities till September end this year.

The Ministry of Home Affairs (MHA) took the decision considering those certificates which have expired or are expiring during the period between September 29 last year and September 30 this year.

The MHA decided on this in view of the exigencies arising out of the Covid-19 situation and to ensure smooth transition to the amended FCRA regime by the FCRA NGOs.

The ministry has also permitted existing FCRA account holders to open their FCRA Accounts in the New Delhi Main Branch (NDMB) of the State Bank of India (SBI), 11 Sansad Marg, New Delhi up to June 30 this year.

After June 30, the MHA said, these account holders will not be eligible to receive foreign contribution in any account other than the FCRA Accounts opened in the NDMB.

In a public notice, the MHA advised all persons, NGOs or associations, who already have been granted a certificate of registration or prior permission by the Central government, to note that they will not receive any foreign contribution in any account other than the designated FCRA Account opened at the NDMB of the SBI from the date of opening of such account or July 1 this year, whichever is earlier.

The existing FCRA account holders were earlier given time till March 31 this year to open their FCRA account in the NDMB under the amended Section 17(1) of the FCRA, 2010. The amended section had come into effect on September 29, 2020.

“The extension in time has been given in view of the exigencies arising out of the Covid-19 situation and to ensure smooth transition by NGOs to the amended FCRA regime,” the MHA said.

Source: IANS

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal

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