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COBOL is dead
This Arun person has obviously not done his research. The first place to start is a job search.
I line in the UK and I did a search for jobs which cite COBOL in London on CWJobs.co.uk. And its comes back with 7 results which some are duplicates.
So you tell me if its really worth teaching the language? COBOL is dead from looking at career opportunities.
Also if you do more research COBOL salaries are declining, please don't make me do this for you also.