Unless you have thousands of fired and promoted employees, it may easily end up "Sorry, most of our promoted employees are Indians, because they were our founder's close friends and joined earlier, and that one guy fired for flirting with a customer was the only one from UIUC. Your name doesn't sound sufficiently Indian and you graduated from UIUC. Bye."

Worse, the person who looks at the rejection decision may have no idea that it boils down to this.