IIMs and IITs can't guarantee placements! Madhabi Buch accused by Congress, received crores in illegal money, could face Parliamentary probe, and much more!🔻🔻

Hello Readers,

Did you hear?

Congress has accused Madhabi Buch!

Congress has accused SEBI Chairperson Madhabi Puri Buch of corruption! They claim that she kept holding an ‘office of profit at ICICI Bank’ and received a salary and ESOPs worth Rs 16.8 crores from the bank since becoming the SEBI chief! Some reports also suggest that the compensation was also the reason SEBI approved the controversial takeover of ICICI Securities by ICICI Bank! What does the bank say about this?

ICICI Bank has refuted the claim!

Within hours of the accusation by Pawan Khera, head of Congress media and publicity, ICICI Bank issued a statement to clarify that it paid no such compensation! According to the release, ICICI Bank gave Madhabi Buch no salary after her retirement from the bank, but only her retiral benefits and ESOPs that were accrued to her. She opted for superannuation in 2013 according to which she received relevant retirement benefits. BJP has reacted to this!

BJP finds it funny!

After ICICI Bank issued its statement, BJP IT cell chief Amit Malviya slammed the party for falsely accusing the SEBI Chief. According to his statement, the INC was continuing Hindenburg Research’s work and accusing Madhabi Buch which she had earlier termed a ‘character assassination attempt’. He further added that the party tried to frame the SEBI Chief but ended up with ‘eggs on their face’! However, this is not the only issue Madhabi Buch is currently facing.

Employees are complaining about Buch!

Employees from SEBI, India’s capital market watchdog, have complained about the ‘toxic’ work culture under Madhabi Buch’s leadership. In a letter, the employees claim that the top management was acting unprofessionally! They claim that the management introduced unrealistic KRA targets, greatly increased work pressure, and were insulting employees! Moreover, the letter also says that due to the extreme work pressure and poor treatment, many employees were facing mental health issues!! What else?

Buch could face a Parliamentary probe!

After failing to indict Madhabi Buch in the ICICI Bank case, Congress has introduced fresh allegations against her regarding rental income. Congress claims that Buch received Rs 2 crores as rental income from an entity that was being probed for multiple violations, including insider trading! As such, reports suggest that the Parliament’s PAC will be investigating Buch and could summon her by the end of the month! What a shocking turn of events!!

Speaking of shocking, did you hear?

Packages from top colleges have fallen!!

Recent reports suggest that IIT Bombay’s minimum pay has dropped to a meagre 4 LPA! Moreover, IIM Ahmedabad’s e-MBA, which has boasted packages of over Rs 1 crore per annum, saw a maximum offer of Rs 54.8 LPA!

Moreover, students from some of the most elite colleges in the country are unable to land summer internships or jobs, the first time ever in Indian history! Do not believe us?
Here’s the stats for some of India’s top colleges:-

• IIM Lucknow reached out to its 2011 batch to place 72 individuals who could not be placed!
• IIT Kharagpur was unable to place 33% of its students last year!
• 46% of IIT Hyderabad students are still waiting to get placed!
• A staggering 69% of IIT Dharwad’s students are waiting for jobs!
• 45% students at IIT Madras are still unplaced!
• 36% students from IIT Bombay’s latest batch could not be placed!
• IIM Bangalore failed to get summer internships for 100 students, resulting in one in six students not getting any placements!!!
• According to reports, 8,000 IITians remain unemployed today!

But why?
Due to an overall economic slowdown. Companies are being cautious with who they hire as global economic conditions have tempted companies to be selective about who they hire. Does that mean we don’t have a chance?

Incorrect. Companies will always need skilled employees who bring the right mix of theory and practicality to the job. They are always on the lookout for individuals who are fiercely competent enough.

Therefore, the answer is to upskill.

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