recently, I got an opportunity to meet Laxmanan with regards to UDAN project of NHRDN. He told one very important point "Are we HR capable and competent enough to handle roles". Perhaps not.
I will touch that topic later on in details. The most important part is increasing competency and that is possible only through re-skilling.
Webinar is one of such options and SHRM webinars are very good media.
Following is the detail of one of such webinar from SHRM
|Leading People, Leading Organizations.|
The Society for Human Resource Management (SHRM) is the world’s largest HR professional society, representing 285,000 members in more than 165 countries. For nearly seven decades, the Society has been the leading provider of resources serving the needs of HR professionals and advancing the practice of human resource management. SHRM has more than 575 affiliated chapters within the United States and subsidiary offices in China, India and United Arab Emirates. Visit us at shrm.org.
SHRM-India serves the needs of HR practitioners by facilitating exchange of knowledge resources & practices, enabling professional development, and enhanced opportunities for engagement & networking within the Global & Indian HR communities. Visit SHRM India at shrm.org/india
SHRM provides content as a service to its readers and members, but cannot guarantee its accuracy or suitability for a particular purpose. Disclaimer
This email may contain advertisements.
Society for Human Resource Management | 605, 6th Floor, Global Business Park, Tower B, DLF III, Gurgaon, India
Email: firstname.lastname@example.org | Phone: 1800 1032198 (Toll Free) | www.shrm.org/india
© 2016 SHRM. All rights reserved.
June 25, 2016
I had been thinking about what best explains the brexit and got following email from HDFC.
They have explained it well and I do not think anything else is required to explain brexit and its impact in India and heee you go
Brexit - A Non-Event for India
What is BREXIT?
The European Union - often known as the EU - is an economic and political partnership involving 28 European countries. It has grown to become a "single market" allowing goods and people to move around. The United Kingdom Prime Minister, David Cameron at the time of his election had promised to hold a referendum on whether the UK should remain in the EU? The referendum has been held and the people of the UK have voted 52:48 in favour of an Exit.
What were the stakes for the British?
The UK is one of 10 member states that pays more into the EU budget than what they get out and only France and Germany contribute more. The UK's net contribution for 2014/15 was £8.8bn - nearly double what it was in 2009/10.
Post Brexit, Britain would also take back full control of its borders and reduce the number of people coming to live and/or work i.e. it will gain control over immigration within the UK-EU.
What happens next?
Technically, MPs could block an EU exit - but it would be seen as political suicide to go against the will of the people as expressed in a referendum.
The referendum result is not legally binding - Parliament still has to pass the laws that will get Britain out of the EU.
Article 50 of the treaty with EU has to be activated by the UK PM. The current PM has resigned and left it to the next PM to take a decision on Article 50. Once Article 50 is activated, Brexit is certain. Brexit should then be a two year negotiation process between the EU and the UK. In a good case, it is possible that UK postpones invoking Article 50 for 6-12 months while negotiating better terms for the UK within the EU and following up with a second referendum in 2017.
Brexit and Indian economy
It is hard to make a case of any meaningful impact on Indian economy of Brexit – either direct or indirect. The UK is a small trading partner of India – UK alone accounts for only 3.4% and 1.4% of India’s merchandise exports and imports, respectively, as of FY16. Even that should not be impacted as Brexit will change the terms of trade between UK and EU and not with India. FDI flows from UK to India stood at only US$1bn in FY15 and US$0.8bn in FY16; hence, not that significant.
Source: Finance Ministry and RBI
Impact on Indian Companies
Brexit can have some impact on Indian companies that have businesses in UK/ EU.
The medium term impact, if any, will be clear only post the revised terms of trade between UK and EU are finalized. This should take 2-3 years from now.
In the interim, the GBP depreciation is an unexpected positive for companies like Tata Steel and Tata Motors (JLR) that have manufacturing operations in the UK.
Barring these companies, the impact on other sectors like pharma, IT, banks and agrochemicals is likely to be marginal.
A pessimist may argue that Brexit will lead to FII outflows from India due to risk aversion. While there is no meaningful link between Brexit and Indian economy, India is in a strong position even if there are some outflows. Consensus expects India’s CAD to remain manageable at about ~1.5% of GDP in FY17. Foreign exchange reserves at ~US$363bn seem adequate to withstand volatility in the case of global risk aversion. Net FDI inflows have increased to an all-time high of US$36bn in FY16. Impact of any FII outflows even if it does happen will not be felt by the economy, though stock markets may be impacted in the very short run.
Considering India's relatively stable macro situation (CAD ~1.5%, Fiscal Deficit ~3.5% and stable inflation), we do not expect any negative impact on the debt markets. Even if there are some FII outflows, which may lead to liquidity tightening, RBI is likely to provide additional liquidity through repos and purchase of Gsecs in the open market operations (OMO).
Uncertainty in EU is likely to lead to USD strengthening and lower global commodity prices. Interestingly, Brent oil prices were down ~4% today. This is likely to aid continued low inflation and provide room for lower rates in India.
The impact of Brexit on all segments of debt markets today has been fairly muted. In the money market (CP & CD) and corporate bond market - yields have moved higher by just 2 to 3 bps. While the yields in treasury bills and government bond market are flat to lower as compared to the levels prevailing yesterday.
The INR was stable and depreciated marginally vs. the USD while appreciating against the Euro and the GBP.
Global events - opportunities for Indian equities?
The following table lists some of the adverse developments in the world over the last two decades, the impact on the stock markets in the short run in India and the returns one year after the event. It is quite evident that on most of these occasions, the correction in the Indian stock markets was a good opportunity to invest for the long term investor. This is so because the nature of Indian economy is one of secular growth and global developments have only a marginal impact on it.
Table: Past global events and the returns thereafter
In our opinion, the Indian markets will quickly discount/recover from Brexit. Interestingly, due to focus on Brexit, the steady improvement in the Indian economy has been ignored. The table below gives the key macro-economic indicators.
Source: Kotak Institutional Equities Research
The correction of Indian equities at a time when the Indian economy is improving on nearly all parameters has created a good opportunity for the discerning investor. The chart below presents Market cap/GDP ratio of India. It can be seen from the chart that the Market cap/GDP has fallen to attractive levels.
India market cap to GDP ratio, calendar year-ends 2005-15 (%)
Source: World Bank, Bloomberg, Kotak Institutional Equities, updated till 31st March, 2016
The policy direction in India is right and economy is making good progress on most fronts. The economy and equity markets also appear to be in transition from consumption to capex. Impact of higher infra allocation and the several steps taken by government over the last two years is expected to be felt strongly from FY17 onwards with Railways, Power Transmission and Distribution, Mining, Roads and Urban Infrastructure likely to lead growth.
Improving fundamentals of the Indian economy and attractive market cap / GDP lead to a positive outlook for the equity markets over the medium to long term.
In a lighter vein, Gold prices went up by ~5% today making Indians richer by ~$40bn. Equity markets lost ~$30bn in value today. Hence, Indians are actually better off from Brexit!
To conclude, Brexit is not a material event for the Indian markets. Indian economy is on a steady recovery path and valuations are attractive. The correction in markets thus provides an attractive entry point for the medium to long term.
The views expressed herein as of June 24, 2016 are based on internal data, publicly available information and other sources believed to be reliable. Any calculations made are approximations, meant as guidelines only, which you must confirm before relying on them. The information contained in this document is for general purposes only. The document is given in summary form and does not purport to be complete. The document does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this document. The information/data herein alone are not sufficient and should not be used for the development or implementation of an investment strategy. The statements contained herein are based on our current views and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Past performance may or may not be sustained in future. Neither HDFC Asset Management Company Limited (AMC) and HDFC Mutual Fund (the Fund) nor any person connected with them, accepts any liability arising from the use of this document.
HDFC Mutual Fund/AMC is not guaranteeing/offering/communicating any indicative yields or guaranteed returns on investments made in any scheme(s). The recipient(s) before acting on any information herein should make his/her/their own investigation and seek appropriate professional advice and shall alone be fully responsible/liable for any decision taken on the basis of information contained herein.
Please note that following baords are fake and NIOS as well as by many other universities including NMIMS. NMIMS in its eligibility criteria clearly mentioned that only students pursuing course from the board recognized by NIOS i.e. ultimately COBSE are eligible to apply. This also put end to question about recognition of Jamia Urdu, Aligarh where people questioned me earlier for putting Jamia Aligarh in the non recognized boards. Please note qualification from these boards are not eligible for higher education in India, abroad and also not a valid qualification for any purpose.
Please read my earlier article to know more about fake boards in India.
List of fake board / non recognized in India as on March 06, 2016
1. Central Board of Higher Education, Aspati Bhawan, Uttam Nagar, New Delhi.
2. All India Board of Secondary Education, Gazipur
3. Central Board of Higher Education, East Patel Nagar, New Delhi.
4. Board of Adult Education and Training, Brahmpuri, Nagal Rai, New Delhi.
5. Gurukul Vishwavidyalaya, Vrindavan
6. Akhil Bhartiya Shiksha Sansthan, New Delhi.
7. ACN International University, Raipur
8. Doon International University, Raipur
9. Board of Higher Secondary Education, Delhi
10. Indian Council of Secondary Education, India
11. All India Board for Education Training, Delhi
12. All India Board for Secondary Education, Delhi
13. Board of Adult Education & Tarining, Delhi
14. Central Board of Higher Education, Delhi
15. Jamia Urdu, Aligarh
16. Gurukul Vishvavidyalaya Vrindaban, Mathura
17. Council of Secondary Education, Mohali
18. Mahashakti Sanskrit Vidyapeeth, Delhi
19. Council for the Indian Certificate Examination, Delhi
20. Bhartiya Shiksha Parishad, Lucknow
21. Board of Secondary Sanskrit Education, Lucknow
22. Hindi Sahitya Sammelan, Allahabad
23. Mumbai Hindi Vidyapeeth, Mumbai
24. The Central Board of Higher Education, New delhi
25. Dr. Ramgopalacharya Sanskrit Mahavidalaya, Etah, U.P.
26. Board of Secondary Education Madhya Bharat, Gwalior
27. Council of Secondary Education Board, Mohali
28. Mahatma Gandhi Secondary and Senior Secondary Education Board, Delhi
29. Board of Secondary and Higher Secondary Open Education, West Bengal
30. Board of Youth Education, India
31. The Council of Basic and Technical Education, Ludhiana
32. Shiksha Parishad Madhyamic, Gwalior
33. Central Board of Education, Ajmer
34. Council of Higher Secondary Education, Delhi
35. Board of Secondary Education Madhya Bharat, Gwalior
36. Delhi Board of Senior Secondary Education, Delhi
37. Board of Technical and Secondary Education, Delhi
38. Board of Youth Education in India
39. Mahatma Gandhi Secondary and Senior Secondary Education Board, Delhi
40. Council of Higher Secondary Education, Delhi
41. Indian Council Open School Certificate Examination, Maharashtra
42. Mahakoshal Board of Secondary Education, Jabalpur
43. National Board of Higher Secondary Education, Delhi
44. Board of Higher Secondary Open Education, Delhi
45. Board of School and Technical Education, Chhatisgarh
46. Board of Senior Secondary Education
47. Delhi Board of Senior Secondary Education
Following board is not in the list but that is also a fake board
48. Rural Institute of Open schooling (RIOS), Delhi and other branches
If you want to do a distance learning SSC or HSC, opt NIOS or state board/ state open schools only.
Please do not post any question related to recognition of above boards, I will not respond. I am happy to respond only valid and logical questions
Mumbai, March 06, 2016
Learning and Development is a ley function for every HR professional and we struggle often. Forget about elearning or MOOC, we often fail to measure training effectiveness and choosing right training for our employee. My own experience with MOOC is- it is effective, but I do not complete 10% of the total programme I enrol.
People Matter's this webinar is definitely going to be useful for all HR professionals, managers.
Here is the details: