Hello everyone this is my story of ISB admissions. 3 attempts and 1 success at ISB PGP. I have been admitted to ISB Mohali.Wanted to share my experience with ISB PGP selection process. My profile in brief GMAT 710(40 V/48Q)/5 AWA Approx 5 yrs of work ex by the time I join ISB.Typical Indian IT male (Cognizant, NIC) EC’s Avg, Strong acads I have applied to ISB three times. *) First time was for class of 2011 applied in R2 on 30th Nov 2009. Had given GMAT on 30th nov itself.(So you can apply on the day you take GMAT that is not a issue.) Got the interview invite on 12th Jan 2010 for interview on 23rd Jan at hyd. Here is my first interview experience. http://www.pagalguy.com/forum/international-indian-mba-schools-accepting/37061-isb-class-of-2011-aspirants-940.html#post1852032 After interview I knew that I had screwed up my chances. So got a straight reject on 15th Feb 2010. *)Applied again for class of 2012 in R1 and did not even get interview call. Reason: Had applied with almost similar essays and 3-4 months of time is actually very less to show some significant improvement in profile. (Which is what is looked by adcom for reapplicants?) *) This time applied in R2 deliberately so as to have enough time to show some significant improvement in my profile. During this time tried to do as much as I can in both professional and personal field and all this while kept on doing introspection of what actually went wrong. And this time everything has happened at the last moment .Decided to apply on Nov 23 2011 haphazardly filled the application with review and help from few fellow (Yogi and others) R1 admits. Submitted it on 30th Nov and had actually very less hopes. Hope was dying down; one fine morning on 28th Jan 2012 got an interview invite for interview at Delhi Feb. 4. Somehow prepared something and appeared for intereview.Did reasonably well in interview. (That’s why had the hopes alive till now) Here is the interview debrief. http://www.pagalguy.com/forum/showthread.php?t=62057&referrerid=291178 Then the wait started come 15th Feb and waitlisted. I knew ISB wants to show its complete admission process (Right from reject without interview, reject after interview, waitlist after interview and finally waitlist converting to admit at the far end of March 2012.)Finally have an offer for Mohall. Indeed it has been a great learning experience and the pagalguy forum has proved of tremendous help, guidance, and motivation. And yes one more thing I did this time is, got a referral from alum which I believe is very important. This is in addition to the two references which we get in application. Here is the link for the same. Please use it. http://pgpapp.isb.edu/User/AlumniReferralForm.aspx ISB was my dream and it feels great to live up to dream. This was the only school I had applied to. May be some people will say I am adamant but this adamancy has helped me. ;) .When I got rejected second time there were many advising me leave ISB and think of something else because I was not fit for ISB or ISB was not fit for me. But I didn’t buzz.Yeah I admit this was my last and final attempt at B school app process. But life just gives us what we want after a complete struggle when we are about to give in, when we are about to assume that we have lost. But in fact we have not. Hope this piece of mine could help future applicants. I will be really happy to help with any of the questions on this forum or otherwise. Cheers!!!
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Tax Planning:Few Imp Tips

The months of Jan to March every year are marked for salaried persons as tax planning months.This 90 day period is most crucial in deciding how much of tax to pay. This year this has to be bit different because most probably next year onwards new Direct tax code DTC will come in picture which might change the way tax planning is being done till now. Am sure most of you would have already done the tax planning but still here are few important tips. Investing in PPF 1.Invest before 5th of month to take benefit of interest for that month.When you invest in the PPF, the interest is compounded annually, but calculated monthly on the lowest balance between the fifth and the last day of every month. If you invest before the fifth, the contribution will earn interest for that month too. 2.Invest at least Rs 500 in the PPF during a financial year or pay a penalty. 3.This year onwards PPF will pay 25 basis points higher than the 10 year govt bond yields so PPF has also become market linked. NSC's 1.Interest on NSC's is also linked to 5 year and 10 year govt bond yields. 2.Tenure for NSC's is now 5 years instead of 6. 3.There is a new 10 year NSC which will offer a yield of 50 basis points above the govt bond yields. Tax Saving FD's 1.They are better option and offer interest rates upto 9-9.5% for a 5 year period. ELSS Equity Linked Saving Schemes 1.Tax-free dividends 2.No tax on income 3.Shortest lock-in period 4.Flexibility of investments 5.Potential to give high returns ULIP's 1.ULIP's are best if kept for a period of 12-15 years. 2.In the initial years they are not able to meet out the expectations because of higher initial charges. LIFE INSURANCE POLICIES 1.Traditional way 2.Returns are very less and some times do not even cover inflation. PENSION PLANS 1.Two types ULIP Pension plans,NPS 2.Good for pension planning. INFRASTRUCTURE BONDS 1.Under sec 80 ccf additional limit of Rs 20000. Hope these points will help in proper tax planning.
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Is India Greece??

After a long time am writing a blog and this time the inspiration comes after Reading Boomerang by Michael Lewis.The suggestion to read Boomerang came from Manshu from Onemint.So the credit goes to Manshu.Thanks Manshu

Very high levels of debt along with a culture of bribes and non trust among people themselves has created a situation very difficult to recover from for Greece.Now looking at these factors India also has some of these things quite similar.
The bribe culture is very evident in Indian Context from small examples like a postman coming to deliver your passport will not deliver it to you until and unless you pay him Rs 100 or 200 at the minimum.The amount varies based on your bargaining power and contacts.

And in case you chooose not to pay him ,trying to be honest, then he has a very simple way ,he will just return the passport and mark it as address incorrect or person not found on the address.And Thanks to our great Indian System once the passport is returned the chances are bleak for you to get it back easily.If you are lucky enough you might get it after one or two months after a great harrassment from the passport office and after payment of Rs 1000 to 2000 to persons ranging from peons to clerks to officers.
And it does not stop here.There are umpteen examples to make the point.

Second the culture of non trust yes here also we are nothing less than Greece.If we talk to a a person about others 90% chances are that you will get words like ' oh that man is corrupt to the core' 'he is having lot of black money ''he takes money for every work' 'he is cheating on his taxes'

And third the debt and deficit are going on increasing.Global Macroeconominc condition is not very good to boast of.When we talk about our strong fundamentals but can we really afford to assume that we are strong enough to sustain another let's say 20 years with a decent growth.

I might be sounding cynical or negative , but I do feel we need to really think where is our country headed to.
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CABM Journey

Life is a Journey and we need to keep on moving.
Well This week I have completed my CABM certification.For the uninitiated CABM is Certified Associate Business Manager.A international repute certification conducted by APBM ie Association of Professionals in Business Management.This exam is based on pre MBA curriculum and ideal for techies like me who would like to move on to management roles in their career.This gave me an idea of how tough or uncertain the decisions managers could have to make at times and how the tools and technology can assist them in achieving the desired results.More details can be obtained at apbm.org.The exam is quite good, material quite comprehensive.Clearing it is a real good feel.
But I think do we or can we use all that we learned..It is difficult ...
But anyways would like to use and contribute to optimize some of the processes...

One journey leads to another..Let's move on.....
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What is your ambition in life?

I came across a google chat status for one of my friend as
"My ambition is to be happy"

Perfect ambition isn't it ?After all everyone is this world is seeking happiness.But then why don't all of us accept that happiness is our ambition??

Why do we always have materialistic ambition like I want to do this..I want to achieve this..I want to have a big house, luxury car and son on and so forth....

Ok for one second let's assume that we get all that we want...Will we be satisfied and more importantly be happy??

If we think deep down we all are aspiring to be happy in some way or other...

But what is true happiness for us...
??that really is a big question...........

Time to do self introspection ....

On closing note this reminds me of a dialogue from a recent bollywood movie...(try to guess the name!!)
"We all are looking for happiness but perhaps at the wrong place"
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One good blog

I was going through a site called onemint.com that is really good in that it provides a relevant and verified information about various tax planning and investment options.
So all people looking for some good advice could go and visit the same.

Disclaimer::The onemint site is no where related to me and this is not a marketing for it either.

Have just shared the info because I found it useful myself and thought others can benefit as well.
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Time Flies

It was just yesterday that I shifted my job and city...but the calendar says a different story...1 year of life has passed...God.this time just flies....
But then it has a very interesting property of leaving behind some remarkable memories....
Those memories that make us relinquish and relax...
But do we get time to remember those memories...
Those sweet ones which we would have wanted to treasure forever...are buried somewhere....
Time to dig some sweet memories
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