Worries about the safety of bank deposits may further erode the economy of trust

Worries about the safety of bank deposits may further erode the economy of trust

ndian villagers queue outside a bank as they wait to deposit and exchange 500 and 1000 rupee notes in Hanuman Ganj village on the outskirts of Allahabad | Sanjay Kanojia/AFP The Big Story: Fear and savings “This tsunami will wipe out your money lying in the banks,” warned a message that went viral on WhatsApp recently, spreading panic among depositors. It was referring to the new Financial Resolution and Deposit Insurance Bill, 2017, lying with a joint parliamentary committee at present and expected to be tabled during the winter session. Among…

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Kongu Welfare Trust disburses scholarship to students

Kongu Welfare Trust disburses scholarship to students

Kongu Welfare Trust disbursed close to ₹ 3.66 crore as scholarship to as many as 1,530 students of Kongu Engineering College, Kongu Polytechnic College, Kongu Arts and Science College, Kongu National Matriculation School, and Kongu School of Architecture during the annual Academic Excellence Award function on Monday. The scholarship covered academic excellence cash prize for top 5 % of students, AICTE Few Waiver Scheme, University Fee Waiver Scheme, Sports Quota, free education assistance by KVIT Trust, assistance for government school students and those belonging to KNMS, concession for children of…

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Fitch Affirms Chase Education Loan Trust 2007-A

Fitch Affirms Chase Education Loan Trust 2007-A

Fitch Ratings has affirmed the ratings on the following classes of Chase Education Loan Trust 2007-A (Chase 2007-A) as indicated: –Class A-3 at ‘AAAsf’; Outlook Stable; –Class A-4 at ‘AAAsf’; Outlook Stable; –Class B at ‘Asf’; Outlook Stable; KEY RATING DRIVERS U.S. Sovereign Risk: The trust collateral is 100% comprised of Federal Family Education Loan Program (FFELP) loans, with guaranties provided by eligible guarantors and reinsurance provided by the U.S. Department of Education (ED) for at least 97% of principal and accrued interest. The U.S. sovereign rating is currently ‘AAA’/Stable…

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Toby Young’s flagship free school trust woos other schools amid financial chill

Toby Young’s flagship free school trust woos other schools amid financial chill

It is one of the best-known academy chains in England. It has a super-high-profile leader and reportedly one of the highest numbers of applications per place in London. But now even West London Free School Academy Trust (WLFSAT) is feeling the chill from icy financial winds buffeting schools, its recent governing body minutes reveal. The minutes, shown to Education Guardian, record that Toby Young, WLFSAT’s chief executive, was asked by a trustee earlier this year to phone other schools to ask whether they would like to join the trust as…

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Fitch Takes Actions on Education Lending Group, Inc. – CIT Education Loan Trust 2005-1

Fitch Takes Actions on Education Lending Group, Inc. – CIT Education Loan Trust 2005-1

Fitch Ratings has taken rating actions on Education Lending Group, Inc. – CIT Education Loan Trust 2005-1 (CIT 2005-1) as follows: — Class A-3 notes affirmed at ‘AAAsf’; Outlook Stable; — Class A-4 notes affirmed at ‘AAAsf’; removed from Rating Watch Negative and assigned a Stable Outlook; –Class B notes upgraded to ‘AAsf’ from ‘A+sf’; removed from Rating Watch Negative and assigned a Stable Outlook. KEY RATING DRIVERS U.S. Sovereign Risk: The trust collateral consists of Federal Family Education Loan Program (FFELP) loans, with guarantees provided by the transaction’s eligible…

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