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This is India !

PG Medical Seats auctioned for 4 Crores

This post is in continuation of my This is India ! Series (see here)

A group of parents sitting in a city medical college auditorium, facing a management team, appear to be attending an orientation session. A closer look reveals they are bidding for post-graduate medical seats. A parent stands up and announces he is ready to pay Rs 1 crore for an MD (radiology) seat. Another parent ups the bid by Rs 25 lakh. At the end of the two-hour session, the coveted seat goes to the ward of the highest bidder.

So highly contested have been the auctions for PG medical seats this year that the going rate for an MD (radiology) seat touched Rs 4 crore at a prominent Chennai college. It hovered between Rs 3 crore and Rs 3.5 crore for the same course in Bangalore colleges.

Successful bids for orthopaedics and dermatology seats varied between Rs 1 crore and Rs 1.5 crore. A paediatrics seat cost Rs 1.6 crore.

Parents find the auction disturbing. “It’s like buying property. The more money you have, the better your house is.”

A source says: “It seems only the elite can pursue some courses. What is also shocking is that students are a witness to this trend. So the student whose parent could not pay those extra lakhs is scarred for life.”

Reasons for the high demand are not far to seek. For the lakhs of students who aspire to specialize in radiology, there are only 683 seats every year. “The gap between demand and supply is enormous. The shortage is perpetuated so that the cost of seats rises every year” officials told TOI.

College managements, on their part, say their repeated pleas to the Medical Council of India (MCI) to increase the number of seats have been in vain. “If we admit very few students for some courses, the cost of their training goes up. How do we make up for that?” asks the principal of a college where PG-seat rates this year hovered between Rs 1 crore and Rs 3.5 crore. The huge gap in the number of under-graduate and post-graduate medical seats makes medical education costlier every year.-from TOI

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Tweets

Om Vs Rome?

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Video

Twitter going public:Inside their revenue business

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Links

Linkfest:Sept 13,2013

Some stuff I am reading today morning:

How Kailash Aggarwal looted money from NSEL (BS)

What determines capital flows to emerging markets (Mint)

Cash-rich Castrol to reward investors (ET)

Mallya hopes for out of court settlements (BL)

The Modi juggernaut (Sandeep)

The party is getting quieter (Moneybeat)

Where is Dick Fuld now? (BusinessWeek)

Buffett’s investment advice is a portfolio killer (Marketwatch)

How investment advisers should use social media (II)

Avoid these 5 mistakes of a bad handshake (Lifehacker)

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RatnakarBank

Ratnakar Bank-Market Making

Ratnakar Bank is an unlisted bank which has drawn in tremendous amount of investor attention.

Its shareholder list consists of many prominent names with Faering Capital, promoted by Aditya Parekh (Deepak Parekh’s son) as one of its largest investors.

Currently, there are two sets of shareholders of this bank-institutional investors and farmers in and around Kolhapur where the bank is based.

The Bank is expected to go for an IPO in the next 2/3 years which may result in gains for the investors and employees.

The current price is We Buy @ 110 and We Sell @ 120.

Anybody interested in purchasing/selling Ratnakar Bank shares or knowing more about it may email me at Alpha Ideas