Google pledges $1 billion to fund non-profit education

Google pledges $1 billion to fund non-profit education

Google CEO Sundar Pichai also unveiled a programme called ‘Grow with Google’ aimed at training Americans how to get jobs or grow their businesses. Photo: Reuters Pittsburgh: Google says over the next five years it will spend $1 billion on non-profit organizations helping to raise education levels around the world and commit its employees to a million hours of volunteer work doing the same. CEO Sundar Pichai announced the goal Thursday morning in Pittsburgh, the city where he arrived in the US from India 24 years ago. Pichai also unveiled a…

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Bank credit growth to priority sector slows drastically

Bank credit growth to priority sector slows drastically

Most of priority sector loans are supposed to serve a social purpose and they are meant to ensure that credit flows to those sections of society whom the banks may otherwise neglect. Photo: AFP It’s not just lending to the beleaguered corporate sector that has slowed—bank credit growth to the priority sector too has fallen considerably in recent months. The priority sector includes lending to agriculture, lending to micro and small enterprises in the manufacturing and services sectors, education and low-cost housing loans, loans to the weaker sections of the…

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Prince Charles backs $10 million new education bond for marginalised children in India

Prince Charles backs $10 million new education bond for marginalised children in India

Britain’s Prince Charles and his wife Camilla attend a cultural event at the British Council in New Delhi on Wednesday. Photo: AFP London: Britain’s Prince Charles, on a two-day visit to India, has given his backing to a new development bond for India to provide education to marginalised children in the country. The $10 million education development impact bond (DIB) has been created by the British Asian Trust, founded by the Prince of Wales to fight poverty in south Asia, and is designed to improve learning outcomes for thousands of marginalised…

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TeamLease acquires 40% stake in Schoolguru for Rs13 crore

TeamLease acquires 40% stake in Schoolguru for Rs13 crore

The purchase of additional stake by TeamLease is linked to Schoolguru’s future performance and meeting its milestones. New Delhi: Staffing services firm TeamLease Services on Wednesday said it has acquired 40% stake in online learning company Schoolguru Eduserve Pvt Ltd for Rs13.53 crore, a move that will accelerate TeamLease’s employability strategy. Both the companies have signed a definitive agreement to this effect. “TeamLease’s infusion of Rs13.53 crore into the company (Schoolguru) will be primarily used to expand its business into new geographies, strengthen existing technology and content library, and innovate in…

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Can’t take education loan off NPA: Finance minister

Can’t take education loan off NPA: Finance minister

TRICHY: The union ministry of finance refused to exempt education loans from non-performing asset (NPA) citing that Reserve Bank of India is against the exemption for maintaining credit discipline.  In a letter to the Union finance minister Arun Jaitley, MP Trichy Siva has urged not to bring education loans under NPA since non-payment of educational loan is affecting their Credit Information Bureau of India Limited (CIBIL) score.  Citing data from 2016, he highlighted that educational loan accounts for only 6.94 percent of the loans from banks. In the letter, he said that 37 percent of…

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Education loans will count in credit ratings, says govt.

Education loans will count in credit ratings, says govt.

No exemption possible, Finance Ministry tells DMK MP The government has clarified that education loan defaults cannot be kept out of the ambit of credit rating bureaus such as the Credit Information Bureau of India (CIBIL). The government’s response was in reply to a question posed by DMK MP Tiruchi Siva. In a letter written to Finance Minister Arun Jaitley in August, Mr. Siva said student loans amounted only to 6.9 per cent of the total non-performing assets (NPAs), compared to industrial sectors such as steel that accounted for 36.4…

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Decoded: Five education loan myths

Decoded: Five education loan myths

A good solid education is a stepping stone to a successful professional life. While most parents strive to provide their children with the best education they can, lack of finances often act as a hindrance to academic aspirations. Today, the rising cost of education has made most students and parents turn towards Education Loan to fund higher education. And like with most financial products, education loan too has several myths surrounding, which I would like to dispel. Poor scores in entrance exams will hinder your loan approval: Many students worry that…

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IIM-B sees 100% summer placement of PGP graduates

IIM-B sees 100% summer placement of PGP graduates

The summer placement session that was held from October 29 to November 1 saw 90 offers by strategy consulting groups. Photo: Mint Strategy consulting firms were the top recruiters at the Indian Institute of Management Bangalore’s summer placement season for the class of 2017-19 of the two-year postgraduate programme. The summer placement session, held from 29 October to 1 November, saw 90 offers by strategy consultants. Accenture Strategy led with 14 offers, followed by AT Kearney and Boston Consulting Group with 13 each. Students also received offers from Bain &…

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Get an education loan, at a swipe

Get an education loan, at a swipe

Getting an educational loan in India is very difficult, mainly for students who do not qualify to study in the top institutes in the country. It is also tough to garner funds to purchase expensive devices such as tablets and laptops that are a necessity for most professional courses. This is the key anomaly that Bengaluru-based financial tech firm, Quicklo, is attempting to solve. Founded a couple of years ago by Mrigank Shekhar, Kush Srivastava and Rahul Saxena, classmates from IIT Delhi, Quiklo partners with banks and non-banking financial institutions…

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SBI Educational Loans, Eligibility, Interest Rates, EMIs And More

SBI Educational Loans, Eligibility, Interest Rates, EMIs And More

State Bank of India, country’s largest lender offers several types of educational loans for higher studies in India and abroad. The bank’s Student Loan Scheme, Scholar Loan Scheme, Loan Scheme For Vocational Education And Training and Central Scheme For Interest Subsidy are among the various loan schemes that are available for students. Education loans are tax effective as interest paid for an education loan qualify for tax deduction under section 80E of Income Tax Act. Here are all the details like eligibility, duration, security, repayment that you need to know…

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