You forgot to attach the error message in context or to even give us a klew what raw contents are...but, taking a guess as to what could easily go wrong here, I'll posit an example--
would be my guess as the most probable error; there are a myriad of other things that could go wrong, but that's the most likely.
"You can't do that!!!"
To do string comparisons, use
if strcmp(raw{i,j},'URVASHI')
But, in your code snippet, that aside, it doesn't make sense -- you compare both the first and second columns to contain a magic string, but if it were to do so, you then change the first column to a number, but immediately overwrite that with a different string. This code, if it were fixed as above, would end up with both columns 1 and 2 for the rows which contained the target string being 'GHANGARE'. I'm guessing that's probably not what was intended, but we don't know that since the objective wasn't described and it's hard to guess without knowing what's in the file to begin with.
Also, xlsread is deprecated; it would probably be easier to write the code if were to use readtable instead as is recommended. 
