This story is from November 30, 2023
Delhi University removes clause on cutting govt funding
While the previous document had stated that “the financial support for higher education, healthcare and research has been and will continue to be cut” under the sub-heading of government funding, the new proposal promises continuation of the financial help. “Financial support for higher education, healthcare and research has been and will continue to be provided by Government of India,” it states.
According to the June document, “As an educational institution, the University of Delhi faces potential decline unless it can ‘revitalise funding’ in ways that do not rely only on government funding. New partnerships with industry are essential to financial stability, and the university is well-equipped to maximise opportunities in these areas. Advancement, as communicating, relationship building and fundraising, will be important as the university develops innovative financial strategies for sustainability.”
The revised document reads, “As the cost of infrastructure and consumables is increasing, as an educational institution, the University of Delhi has to make efforts to get more funds from the government and find additional resources to revitalise itself and upgrade its infrastructure.” Like the previous document, it also holds new partnerships with industry as essential to increase financial input and stability, and advancement in communicating, relationship building and fundraising as important for DU to develop innovative financial strategies for sustainability.
The document is a plan for DU to achieve certain goals by 2047 by working on its challenges. “The university challenges pertain to ‘infrastructure’, building a vibrant and enduring ‘research eco-system’, making the ‘disciplines’ dynamic, and facilitating a robust teaching/learning environment,” it states.
Khattar asks govt Universities to activate its alumni network for infrastructure development
Haryana Chief Minister emphasizes leveraging alumni networks and corporate social responsibility funds for infrastructure development. Each university should establish dedicated alumni and CSR cells. Strategic utilization of these funds will enhance infrastructure facilities and contribute to academic excellence. The Chief Minister announced a discretionary grant of Rs 25 lakh for Maharishi Valmiki Sanskrit University. Vacant sports-related posts in universities will be filled by promising medal-winning players.
RBI's vigilance: New consumer credit norms to bolster India's financial stability amidst surging loan growth
The Reserve Bank of India (RBI) has implemented stringent measures to mitigate risks associated with consumer credit growth. Fitch Ratings provides insights into the impact of these measures. The focus is on allocating more capital against unsecured consumer credit. The growth of unsecured credit card loans and personal loans raised concerns, prompting regulatory action. The changes introduce higher risk weightings for both banks and non-bank financial institutions (NBFIs). The measures may lower the common equity Tier 1 (CET1) ratio of the banking system and impact the capitalization ratios, loan growth, and future asset quality of Fitch-rated NBFIs.
Nepal: India-funded school buildings, community development projects inaugurated
School and lab buildings of Shree Gautam Buddha Secondary School in Kapilvastu District were inaugurated. The buildings were constructed with financial assistance from the Government of India under the Nepal-India Development Cooperation. The project also included the procurement of furniture and lab equipment. The school is affiliated with the National Examination Board and approved by the Ministry of Education. India has completed over 550 High Impact Community Development Projects in Nepal, including 5 in Kapilvastu. Additionally, India has gifted ambulances and school buses to various institutions in Nepal, including 18 ambulances and 4 school buses in Kapilvastu District.
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