IRMA 2020 Interview Experience: A Comprehensive Analysis
Preparing for the Indian Rupee Management Association (IRMA) interview can be a challenging yet rewarding experience. This article delves into a detailed account of the candidate's journey, including the interview process and topics discussed. Whether you're an aspiring student or a curious reader, this piece provides valuable insights and lessons from a real interview experience in 2020.
A Brief Overview of the IRMA Interview Experience
The Indian Rupee Management Association (IRMA) interview is a significant hurdle for candidates aiming to secure placements in management institutes. In this article, we explore the experience of a candidate who appeared for the IRMA interview in 2020. The candidate secured the following scores: 10th Standard - 94, 12th Standard - 74, Graduation - 86, and CAT 73.77 EWS. The Written Ability Test (WAT) was conducted online, and the candidate faced a unique situation u2013 a network issue at the beginning that hindered the panelist's visibility.
The Interview Scenario
The interview was conducted via a video conferencing tool with two male panelists, M1 and M2. The panelist initially faced a network connectivity issue, which made it challenging for them to see the candidate. Despite the initial hiccups, the interview proceeded as follows:
Initial Greetings and Personal Background
The interview began with a simple greeting. The candidate, identified as Rushikesh, was asked about his hometown and the reasons for living with his grandparents. Interestingly, the panelist sought to understand the connection between education quality and the choice of residence.
Example: M1: Good morning Rushikesh. So where are you from? Me: I live in Pune with my grandparents. M1: Why do you live with your grandparents instead of your parents? Is it because of better education facilities or for any other reason? Me: Yes, it was a personal reason.
The Significance of Mahatma Phule's University
The panelist inquired about the naming of the Maharaja Sayajirao University of Baroda as Maharaja Phule, leading to a discussion on the contributions of this reformer.
Example: M1: Why did they name the university after Mahatma Phule? What did he do? Me: Mahatma Phule was a significant figure who advocated for the rights of women and members of the lower castes. He founded schools and educational institutions, especially for girls and Dalits.
Pro-Social Corporates and Farmer Support Initiatives
One of the most in-depth discussions centered around the concept of pro-social corporations and how corporates can contribute to supporting farmers. The candidate was asked to elaborate on his stance if placed in TATA, how he would help farmers double their income, and the distinctions between subsidy and incentives.
Example: M1: If you were placed in TATA, how would you help farmers to double their income? Me: Farmers face several challenges, including access to quality seeds, irrigation facilities, and market information. I would work on developing partnerships with local communities and implementing sustainable farming practices. M1: What is the difference between a subsidy and an incentive in agriculture terms? Me: Unfortunately, I was not able to explain the difference clearly, so I apologized.
Understanding the MSP and Calculation
Further discussions centered around the Minimum Support Price (MSP), a crucial aspect of farm policy in India. The candidate was asked to explain the MSP and the role played by R. Swaminathan, which highlighted the importance of understanding economic policies in depth.
Example: M2: Are you aware of the MSP and how it is calculated? Me: The MSP is calculated based on various factors, including the cost of production and the profitability of the farming sector. R. Swaminathan's report is a key reference in cotton pricing and policy recommendations.
Significance of Costs and Subsidies in Farming
The panelists brought up the issue of calculating costs of production, including wages and other expenses, which raised several questions. The candidate was able to provide an overview of the comprehensive nature of farming costs but faced challenges in explaining the distinctions between subsidies and incentives.
Example: M2: If the family is involved in farming, should we calculate their wages in the cost of production? Me: Yes, wages and other costs are an integral part of the total production cost. M2: How does the government calculate MSP, considering different states have varying wages and costs? Me: Agriculture is a state subject, so the central government sets the MSP, which may not benefit all states equally. The MSP is primarily calculated based on the cost of production in major producing states.
Group Discussion on Farm Laws and Government Initiatives
The panelists also questioned the candidate about recent farm laws and the debate surrounding them. The candidate discussed his thoughts on these laws and why farmers were against them, supporting them with a few modifications. The discussion also touched upon the impact of these laws on small farmers and the overall agricultural system.
Example: M2: Why were farmers against the farm laws? Me: Farmers were concerned about losing control over their produce and the potential risks associated with private contracts and market forces.
Discussion on Civil Code and Mandated Uniforms
The interview concluded with a series of questions on social and legal issues, such as the hijab row and the right to choose freedom. The candidate expressed strong views on the right to freedom and the importance of personal choices. The panelists also inquired about the candidate's stance on the uniform code and the right to choose.
Example: M2: Do you think the government should bring a uniform civil code with a mandatory uniform for each citizen? Me: No, it's not right. Everyone should have the freedom to choose their attire and personal identity. M2: On one side, you support uniforms for children, and on the other, you oppose mandatory uniforms for citizens. Why is that? Me: I believe in flexibility and choice. Schools can have school uniforms, but mandating a uniform for all citizens is a violation of freedom.
Conclusion and Assessment
The interview concluded with a few final questions about personal views and opportunities for further discussion. The candidate expressed appreciation for the experience and conveyed his faith in the decision to be made. The outcome of the interview process was a waitlist conversion to a final placement.
Verdict: The applicant was initially waitlisted. Final decision: Positive, with a waitlist to final placement conversion.
Key Takeaways
From this interview experience, several key lessons can be drawn:
Comprehensive Understanding of Economic Policies: Understanding the economic policies affecting agriculture, such as MSP, subsidies, and incentives, is crucial for providing accurate answers.
Contribution to Social Issues: Corporates play a vital role in addressing social issues, and candidates should be prepared to discuss their contributions and initiatives.
Clear Communication: Despite the complexity of certain topics, maintaining clarity and precision in responses is essential for success in interviews.
Social Awareness: Candidates should be aware of current social and legal debates and be prepared to articulate their views.
By reflecting on these insights, candidates can enhance their preparation for future interviews and improve their chances of success in the IRMA selection process.