During the final placements of 1990, the acclaimed American bank CITIBANK visited the campus for final placements. During their pre-placement talk to the students, CITI conveyed that XIMB would not be treated on par with IIMs (ABC) as far as the CTC/remuneration or even the entry-level positions were concerned, as XIMB was a relatively new B School.
On the face of it, the argument was pithy and logical given that IIMs were established decades back in the 1960s and 1970s and that the new player in the block cannot aspire to rub shoulders with the best B Schools in India.
However this argument did not appeal to the finer senses of the students and rubbed them the wrong way. The entire class of 1990 boycotted CITIBANK’s offer carte blanche as being discriminatory and unpalatable.
The placement team headed by acclaimed professors, tried to dissuade the students from boycotting as this may harm brand XIMB for years to come and that American banks and corporate India may not take this slight in their stride.
But the students in 1990 were adamant, and CITIBANK ate humble pie and only took summer interns that year.
This anecdote illustrates the pride each of the students from Pan India felt about their revered alma mater and were not willing to brook any insult to it by corporations, however big and reputed may they be.
This set the ball rolling for the other batches and set the tone for XIMB being considered a Tier 1 B School, very early on in its journey.
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