Category: Education

India’s first temple management diploma blends tradition and technology

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A unique academic programme seeks to revolutionise how sacred spaces are run. Temple Connect, a private initiative has launched India’s first-ever Postgraduate Diploma in Temple Management, blending age-old traditions with modern management techniques.

Temples are ecosystems that need to be managed efficiently. From handling millions of devotees to managing donations and implementing sustainable practices, running a temple in the 21st century is no small feat,” declares Giresh Kulkarni, Founder of Temple Connect.

Expansion planned

The innovative course, which kicked off its inaugural batches at the University of Mumbai and Welingkar Institute, plans to expand to Savitribai Phule Pune University and potentially 19 other institutions across India.

But what exactly does “temple management” entail? 

“We’re talking about queue management, disaster planning, fund management, and even technology integration,” he explains.

“Imagine handling 18 to 20 lakh people visiting the Siddhivinayak temple on a single Angarika day. That’s not just about devotion; that’s logistics,” says Kulkarni.

Ravindra Sangurde from Mumbai University says, “We talk about the financial management of temples, administrative work, Trust Acts, disaster management, and quality management in temples. For instance, how to maintain the quality of prasad.”

Easing experience

The six-month course is designed to be a crash course in divine administration.

Students will spend three months in intensive classroom training, followed by a three-month hands-on internship at various renowned temples.

“The faculty consists of seasoned professionals, all of whom have substantial practical experience in temple operations,” Sangurde adds.

 From financial management and administrative duties to disaster management and quality control, the course covers it all.

Kulkarni emphasises the technological aspect. “There are CCTV cameras, queue managers, safety security guards, fire alarm systems… Someone is managing all these factors to secure the experience of the devotee or pilgrim.”

The programme has attracted diverse students, breaking the traditional mould of temple administration.

Kulkarni stresses the inclusive nature of the course, saying, “There is no caste element here. Anyone who’s a graduate can join the course, subject to their inclination to the topic.”

Sangurde says already they have got 22 admisions at Mumbai University, and many enquiries.

With a modest fee of ₹25,000 per year,the course is not just limited to Hindu temples but applies to gurudwaras, Buddhist shrines and churches too.

Looking ahead, Kulkarni shares ambitious plans. He says, “Discussions are underway with 19 other government-driven universities and private institutions to launch the programme across  States like Chhattisgarh, Gujarat, Goa, Jharkhand, Madhya Pradesh, and Uttar Pradesh, as well as  cities  like Varanasi, Noida, Delhi, Haridwar, and more within the next two academic years.”

Rhodes Trust announces sixth scholarship for India

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In line with its increased focus on India, China and Africa, the Rhodes Trust has announced the creation of a sixth Rhodes scholarship for India, a fully-funded postgraduate award which enables students from across fields to study at the University of Oxford. 

The scholarship is endowed in perpetuity in partnership with the Radhakrishnan-Rajan family.  

“Our current goal is to increase the number of scholarships for India to ten. But ultimately, we would love to increase it to 25,” Elizabeth Kiss, CEO, Rhodes Trust, Oxford University, told businessline.

The new Indian Rhodes scholarship was announced by Kiss on Thursday in New Delhi, attended by the Radhakrishnan-Rajan family, the United States Ambassador to India, Eric Garcetti, the Rhodes National Secretary for India Dhvani Mehta and Rhodes Trustee Menaka Guruswamy, per a statement.

The Trust is enormously grateful to Mukund Rajan and Soumya Rajan for their generosity and leadership in establishing this scholarship, and for the partnership of an American Rhodes Scholar and his wife, and the University of Oxford, in providing additional funding to secure its permanence, it added.

Kiss pointed out that the scholarship has been funding Indian students opting for a wide range of subjects. “The most popular in recent years among Indian Rhodes scholars has been law, public policy, and South Asian studies. But we have also had neuro science, physics and biology. And one of our new scholars who is flying to Oxford tomorrow is going to study theology”.

The Rhodes scholarships, for more than a century, have sought out exceptional young people of character from around the world and brought them to Oxford University to study, encouraging them to build bonds of friendship and to pursue lives of service, Kiss said. 

“This new scholarship honours two individuals, Sarvepalli Radhakrishnan, one of India’s great scholars and statesmen, whose birthday is celebrated each year in India as National Teachers’ Day, and Raghavachari Govindarajan, both of whose lives have been dedicated to public service. I look forward to seeing the purposeful impact of those who take up this opportunity in the years to come, as they join our global network of Scholars who are impatient to change the world for the better,” she added.

The first selection for this new scholarship will take place next year, with the successful candidate arriving in Oxford in autumn 2026.

CherriLearn collaborates with SVM school to expand into north-eastern region 

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CherriLearn, a Mangaluru-based impact EdTech company, has expanded its reach to the north-eastern region of India, providing its educational platform to tribal students in collaboration with the Saraswati Vidya Mandir (SVM) school in East Jayanta Hills, Meghalaya.

“Our mission is to democratise quality education, and this initiative sponsored by Sathwa Spa enables us to reach and impact the lives of students who need it the most. We believe this will be a significant step in their educational journey, providing them with the resources they need to succeed,” saidShrinidhi RS, Founder of CherriLearn.

SVM school is located approximately 11 hours from Shillong and has an enrolment of 155 students from grades I to VII, all of whom belong to tribal communities.

IIM Sambalpur to introduce AI-enabled teaching

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Indian Institute of Management (IIM), Sambalpur has decided to introduce AI-enabled teaching to ensure a transformative learning experience among students, an official said.

“We announce the introduction of AI in classrooms for the transformative learning experience. IIM Sambalpur, which began with just 49 MBA students in 2015, is today a proud institute with 320 MBA students,” Director Prof. Mahadeo Jaiswal said.

The authorities of IIM, Sambalpur announced the introduction of artificial intelligence (AI) as faculty during a programme commemorating its 10th Foundation Day on Monday.

  • Also read: AI will spur new jobs, roles but may impact repetitive, commoditised tasks: Deloitte South Asia CEO

“We created world-class infrastructure and process of onboarding 60 plus of start-ups under our incubation centre and promoted international collaborations,” Jaiswal said.

The institute plans to organise a women’s empowerment summit in February to move towards the goals of ‘Viksit Bharat’, he said.

“IIM Sambalpur this year will have three centres of excellence, a more diverse MBA programme that is in line with National Education Policy’s focused efforts towards international accreditations and expansion of the campus,” Jaiswal said.

The Foundation Day celebration coincided with the launch of the Innovation, Design and Entrepreneurship (IDE) Bootcamp (Second Edition – Phase I), as envisioned by Prime Minister Narendra Modi.

Scheduled from September 23 to 27, this initiative — spearheaded by the Ministry of Education, AICTE, and the Ministry of Education’s Innovation Cell (MIC) — aims to nurture innovation, design, and entrepreneurial skills among students across India.

  • Also read: IIMA proves it is gold standard for management studies, bags top spot in NIRF list for 5th consecutive time

National Consumer Helpline facilitates ₹1 crore refund to students from coaching centres

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The National Consumer Helpline (NCH) has facilitated a refund of ₹1 crore in enrolment fees to students and aspirants of various competitive exams, including UPSC Civil Services and IIT entrance, the government said on Sunday.

The refunds were processed at a pre-litigation stage following intervention by the Consumer Affairs Ministry after students from across the country raised grievances against coaching centres offering classes for various competitive exams.

Consumer Affairs Secretary Nidhi Khare said, “This action reaffirms our commitment to ensure that coaching institutions adhere to fair practices and honour the rights of consumers.” The NCH initiated a drive to resolve these grievances on a mission-mode after receiving numerous complaints regarding unfair practices by coaching centres, particularly their refusal to refund enrolment fees, an official statement said.

  • Also read: CCPA releases draft guidelines to prevent misleading ads in coaching sector

NCH received 16,276 grievances from students in 2023-2024, up from 5,351 in 2022-2023 and 4,815 in 2021-2022. In 2024 alone, 6,980 students have approached NCH for speedy redressal of their grievances at a pre-litigation stage.

Complaints included unfulfilled promises, inadequate teaching quality, and abrupt cancellations of courses.

The ministry cited success stories, including a Bengaluru student who received a refund of ₹3.5 lakh and a Gujarat student who was granted a refund of ₹8.36 lakh after NCH intervention.

The Consumer Protection regulator CCPA has taken action against misleading advertisements and unfair trade practices in the coaching sector, including penalising several coaching centres.

The ministry has directed coaching centres to adopt a more student-centric approach and ensure transparency in course offerings and quality standards.

This initiative aligns with NITI Aayog’s recommendations for improving dispute resolution processes and strengthens the pre-litigation platform for prompt grievance redressal across sectors.

Students can register their grievances by calling the toll-free number 1915 or through the portal www.consumerhelpline.gov.in.

  • Also read: CCPA imposes ₹5 lakh penalty on Shankar IAS Academy for misleading claims in ads

Improving employability: Cambridge University Press & Assessment equips lakhs with English skills

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Cambridge University Press & Assessment (CUPA), a part of the University of Cambridge, has equipped lakhs of learners in Tamil Nadu with essential English skills as part of the State government’s Naan Mudhalvan project that enhances employability and skills among youth.

In the first year, it certified 3,50,000 learners; this year, it has reached 2,50,000 students across more than 1,500 government institutes, said Peter Phillips, Chief Executive at CUPA. “We are equipping learners with essential English skills that meet the demands of the modern job market,” he told businessline.

The focus is to enhance their listening, speaking, reading, and writing skills, which are crucial for effective communication in any profession, he said.

“The Naan Mudhalvan project serves as a vital context for our collaboration, as it aims to create a skilled workforce capable of meeting the challenges of a rapidly growing economy,” he said.

Phillips said Tamil Nadu is also the only state where CUPA offers Tamil as a language option. Students with Cambridge Class X Tamil qualification are exempt from the government’s Tamil exam as it is recognised by the State. The Tamil Nadu State government recognises the Cambridge curriculum as a well-established and high-quality programme of study, he said.

Trained 10,000 teachers

Cambridge has trained 10,000 teachers selected through TNSDC. These educators undergo a thorough training, assessment and certification process, ensuring they are well-equipped to deliver high-quality instruction and mentorship. “By empowering teachers, we create a ripple effect that enhances the learning experience for students,” he said.

As part of the programme, students also undergo a learning assessment, mandatory in their first year, receiving certifications that carry academic credits from universities, including institutions like Anna University, he said.

Tamil Nadu is the only State where Cambridge International Education has a presence across districts.

  • Also read: Employment growth rate rose to 6% in FY24: RBI KLEMS data
Cambridge Climate Quest

Phillips said one of the major initiatives taken up in India was the Cambridge Climate Quest, a collaborative initiative by Cambridge University Press & Assessment and Cambridge Zero. This is designed to foster climate awareness, literacy, and action among young learners. Inspired by the National Curriculum Framework for School Education, the programme integrates climate education across learning domains.

The programme aims to empower students to combat the climate change issue by focusing on building a strong foundation in climate science and developing localised solutions. The course empowers students in Grades 8–12 to build a strong foundation in climate science, he said.

On India as a market, Phillips said it is among the top five in the list, along with the US, China, the UK and Spain. Of CUPA’s revenue of £1 billion, nearly 10 per cent is contributed by India. “We expect this to grow significantly in the next few years,” he said, without giving any numbers.

With over 750 schools nationwide and a growing presence in major cities such as Mumbai, Bengaluru, Chennai, Hyderabad, and Pune, Cambridge plays a pivotal role in building a quality international education ecosystem. Cambridge has 260 schools in South India, including 100 in Tamil Nadu, he said.

Women in just 32% of districts have achieved work-life balance: IIMA study

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A study conducted by the Indian Institute of Management Ahmedabad (IIMA) across 700-odd districts in the country has found that women respondents in just 32 per cent of these districts felt they were able to achieve work-life balance, highlighting ongoing challenges with unpaid domestic work.  

The study that compared and analysed data for women from a total of 705 districts across the country from the National Family Health Survey-4 (NFHS-4) and NFHS-5, reveals that despite the rising literacy among women aged between 15 to 49, only 46.1 per cent of the districts reported educational empowerment among women. Speaking during the report launch, Professor Satish Deodhar, Dean (Faculty), IIMA, underscored the need for men’s participation in sharing household responsibilities to achieve work-life balance for both genders. 

“Of the four parameters studied in the report, the work-life balance parameter shows the least progress. Only about 32 per cent of women reported that they could manage work-life balance. In my opinion, women’s workforce participation is intricately linked to responsible household work participation by men. As men have not taken their equal share of household responsibilities proactively, it ultimately hinders the quality of labour-force participation of women. This report by the Gender Centre at IIMA serves not only as a measure of progress, but also as a roadmap for future interventions to enhance women’s empowerment and participation in the workforce,” Professor Deodhar said about the report prepared by the Gender Centre at IIMA. The report is titled ‘Women’s Empowerment at the Subnational Level: Towards Achieving Gender Equality (SDG 5)‘.

The report prepared by the centre, serves as a localised tool that is designed to measure empowerment at the district level in four key areas essential to achieving SDG 5 by the United Nations: 1) Decision-making, autonomy over income, and physical mobility, 2) Control over income and economic empowerment, 3) Educational and informational empowerment, and 4) Work-life balance. 

Of the sample of 705 districts in the study, 67.5 per cent of districts reported that women were empowered in decision-making and mobility. “There has been an increase in women’s involvement in decision-making, particularly regarding their own healthcare, household purchases, and how to spend their husband’s income. The percentage of women who make decisions, either alone or jointly with their partners, has grown,” says the release from IIMA.

The percentage of women who have ownership of their own asset (land or house), alone or jointly with their partner, has also increased from 29.09 per cent in NFHS-4 to 35 per cent in NFHS-5. The average number of women completing higher education has increased from 11.43 per 100 women in NFHS-4 to 14.42 per 100 women in NFHS-5. But primary and secondary education didn’t show a significant difference.

Further, interest in mass media has also surged from 69.12 per cent in NFHS-4 to 76.24 per cent in NFHS-5, with more women engaging with various forms of media, indicating greater exposure to mass media (listening to radio, watching television, and reading newspapers).

Mobile internet to be suspended in Jharkhand for recruitment test on September 21, 22

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Mobile internet services will be suspended across the state for over five hours for two days starting on Saturday in view of the Jharkhand General Graduate Level Combined Competitive Examination (JGGLCCE), in a bid to check any malpractice during the examination, an official statement said.

The services will be suspended from 8 AM to 1.30 PM on 21st and 22nd September, it said.

According to the official statement, the steps have been taken to conduct the examinations in a free, fair, and transparent manner.

“It has been observed in previous instances that some unscrupulous individuals resorted to unfair practices utilising various mobile applications, such as Facebook, WhatsApp, X (Twitter), Telegram, and YouTube, which rely on Internet/Wi-Fi connectivity,” the statement reads.

“The Government of Jharkhand seeks to eliminate any loopholes in the examination process that may raise doubts in the public mind regarding the integrity of the recruitment process, potentially leading to law and order issues that could impact public safety,” the statement further said.

“The Government of Jharkhand has thoroughly evaluated the situation and concluded that, in the interest of conducting a free, fair, and transparent public examination, it is both prudent and necessary to mitigate all possible loopholes by temporarily disabling mobile Internet, mobile data, and mobile Wi-Fi connectivity during examination hours on the designated days,” the official statement reads.

The Jharkhand Staff Selection Commission will conduct the examination in 823 centres, with around 6.40 lakh candidates expected to appear for the test, the official statement said.

30 States, UTs come under Vidya Samiksha Kendra network: Govt

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Vidya Samiksha Kendras, or VSKs, which aim at collecting and collating real-time data on students and teachers across the country, has brought 30 odd States and Union Territories under its network, said Vipin Kumar, Additional Secretary to the Ministry of Education.

The VSK network aims at making available parameters such as student and teachers’ attendance, online, on a real-time basis on a GIS dashboard across all States.

The VSK – with a presence of at least one centre in every State – is viewed as a data warehouse that will eventually connect every single school across the country, from government to private; thereby enabling comprehensive and interactive data analytics to facilitate data-driven policy interventions and customised decision-making in the schooling system.

Tracking learning gap

According to Kumar, the system will allow for mapping, tracking and, if necessary, identifying learning gaps in students even if they move across States. 

It will also help in identifying reasons behind poor performance by students in a specific school or region, look into consistent low attendance of girl students in schools of a particular block, and even verify if a mid-day meal was provided to all school-going children in a district. 

“Every student has a unique ID like Aadhar. And, their progress is tracked. So, even if they move around and shift from one State to another, teachers will be able to view and track his strengths and weaknesses, his learning progress, etc,” Kumar said, while speaking at the Deloitte India’s Government Summit. 

“The VSKs include students from both government and private schools,” he added. Some of the States already onboard include Andhra Pradesh, Delhi, Tamil Nadu, Uttar Pradesh, among others. 

ISB launches 20-month PGP for Young Leaders starting 2025

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The Indian School of Business (ISB) has launched a 20-month Postgraduate Programme in Management for Young Leaders (PGP YL), a full-time MBA equivalent residential management programme for high-potential aspirants with up to two years of full-time work experience.

Commencing in mid-2025, ISB’s PGP YL will offer a comprehensive learning experience through an innovative and cutting-edge curriculum designed to respond to the rapidly evolving business landscape and technology disruptions. 

“Since our inception in 2001, ISB has been imparting world-class management education to create leaders for India and the world. Our many conversations with industry leaders and recruiters reveal a need for young professionals who can step straight into roles that require business acumen alongside deep expertise in data and technology,” Madan Pillutla, Dean, ISB, said.

“In line with these requirements, we have designed the PGP YL programme for fresh graduates and entry level professionals to transform them into exceptional problem solvers and innovators at the workplace,” he added.

The research backed curriculum will blend foundational business principles with advanced technology, data, analytics courses and global perspectives to develop students into innovative problem solvers.

Given the students’ limited work experience, the PGP YL curriculum has been designed to incorporate significant experiential learning components, including a Business Design Lab and an Innovation Lab. Additionally, students will be required to complete a mandatory two-month summer internship, which will provide them with practical exposure to business environments in various settings. Students in the PGP YL programme will be taught by renowned faculty from ISB and other top international B-schools who will bring their expertise to the classroom. 

Students interested in applying for the PGP YL programme will have to submit a valid GMAT, GRE or CAT score, in addition to the details of their educational qualifications and work experience, if any. The admissions process for the PGP YL programme includes a personal interview based on the students’ academic excellence, application essays and test score performance. The shortlisted students will then be interviewed by a panel consisting of leading industry practitioners, academicians, and ISB alumni in senior positions.

The programme fee for the academic year 2025-27 is ₹21,65,000 + GST and the accommodation fee is ₹3,95,000. Scholarships will be awarded to 40-50 per cent of the class based on merit and merit-cum-need criteria. Merit scholarships may offer up to a 100 per cent tuition waiver for deserving candidates.

SMART Technologies eyes $50 million revenue in 3 years

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SMART Technologies, a Canadian firm known for its interactive whiteboards, aims to achieve a revenue of $50 million within the next three years after its relaunch in India. To support this goal, the company is intensifying its focus on localisation, by setting up manufacturing operations in India.

Nicholas Svensson, President, CEO, of SMART Technologies, highlights this strategic move as a key component of their growth strategy. The manufacturing facility in the state of Andhra Pradesh is expected to enhance SMART’s production capabilities by reinforcing its dedication to the Indian market, noted Svensson.

The company relaunched its services in India and announced its foray into the Bengaluru market. “After being in India for almost 20 years and continually supporting our customers, we now feel ready to enhance our presence by localising our strategy,” explained Ruben Cammaerts, Vice President, International, SMART Technologies.

Besides, SMART has partnered with an undisclosed electronic manufacturing services provider (EMS) for the production of Interactive Flat Panels. “This local work represents a significant step in optimising supply chains, increasing local manufacturing efficiency, and fostering economic growth within the region’, Cammaerts added.

The company currently partners with 500 commercial players and plans to collaborate with both private and public educational providers.

Localisation beyond SMART boards

The company is enhancing its focus and extending its localisation efforts beyond manufacturing the SMART boards by providing software solutions available in a variety of Indian languages.

“We’re not developing a syllabus ourselves; instead, we collaborate with local partners to incorporate the most relevant and valuable content possible in Indian languages,” added Cammaerts.

SMART Technologies’ solutions will initially be available in six languages: Hindi, Tamil, Gujarati, Kannada, Bengali, and Telugu.

Furthermore, the company announced its launch of interactive display solutions, the MX and GX series, both designed to enhance classroom engagement, streamline teaching processes, and reduce the time spent on technology management.

Banks may play safe in aligning study loans with follow-up loans

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Banks’ may turn more circumspect when considering student borrowers’ application for a second education loan.

The Reserve Bank of India (RBI) has rejected Banks’ request to not treat realignment of the existing tenure of an education loan with the repayment period and moratorium of a second education loan as restructuring.

What this could mean is that students who take an education loan for pursuing a professional degree and want to continue further studies with a second education loan may have to pay more interest rate for the second loan.

A restructured loan has implications for banks in terms of provisioning for any diminution in the value of the loan.

Background

Banks had brought to the attention of the regulator that student borrowers approach them to avail of a second education loan for further higher studies, after repayment of the first loan has commenced.

As students’ ability to service the first education loan gets affected once they join higher studies (post-graduate courses), they request banks to defer/extend moratorium for repayment of this loan. As a result, banks had approached RBI seeking regulatory relaxation on restructuring.

RBI’s contention

RBI reasoned that as per its master circular on ’Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances’, any such relaxation would result in non-recognition of increase in credit risk associated with the change in terms and conditions of the existing loan.

Banking expert V Viswanathan said, “The existing Banker may not entertain new loans. But it is possible he can ask for take over by another banker while it is a “standard asset” in the first bank.

“It is also possible that parents can be given a loan against other securities or unsecured loans to clear the existing loans in the name of the students.”

He observed that interest rate for the new loan will be higher in order to compensate the bank for the income not recognised and additional provisions. Further, a bank may ask the parents to start repaying the original loan as per schedule before considering the new loan.

NPA applicable

Viswanathan noted that given that a student borrower’s capacity to repay his/her first education loans will be affected as he/she pursues further higher studies with a second education loan, the existing (first) loan will be treated as non-performing asset (NPA) and attract provisions of NPA. If not backed by collateral, provisions may go up to 40 per cent. However, fresh loan for higher studies can be treated as a standard asset.

Upgrading the existing loan, treated as restructured, can be done only after 10 per cent of the revised repayment instalments is paid or at least repayment has commenced after one year.

Nobel laureate Geim urges young scientists to embrace curiosity and break routine

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Nobel laureate Andre Konstantin Geim called on the next generation of scientists to resist the pull of routine and go beyond the confines of their job descriptions in order to make meaningful contributions to their fields.

“Too many brilliant minds have wasted their lives trapped in the comfort of routine. It is when we step outside our comfort zones and explore new ideas that we often find ourselves doing the most important things in our lives and careers,” said Geim, Regius Professor and Royal Society Research Professor, University of Manchester, UK.

Prof Geim was in Chennai on Saturday, addressing the 15th Convocation of Hindustan Institute of Technology and Science (HITS).

Geim highlighted the challenges and rewards of pushing the boundaries of human knowledge. He urged the graduates to embrace both the challenges and opportunities ahead and to push beyond conventional limits in their pursuit of discovery.

  • Also read: At Design for Change, we let children find creative solutions: Kiran Bir Sethi

He pointed out that his most impactful work emerged from simple, curiosity-driven projects he pursued outside of his official duties. “A mere act of pouring water into an electromagnet led to the world’s first demonstration of magnetic levitation. Similarly, an attempt to mimic how geckos climb walls resulted in the creation of a revolutionary dry adhesive, now a major research topic,” he said.

Prof Geim, a Dutch-British physicist of Russian descent, is renowned for his pioneering work in condensed matter physics and material science. His most notable achievement is the discovery of graphene, which earned him the 2010 Nobel Prize in Physics alongside Konstantin Novoselov.

Note on his discovery of graphene

Delving into the details of his Nobel Prize-winning discovery of graphene, Geim highlighted how curiosity served as the driving force behind the breakthrough. “I’m not even a biologist! The experiment that earned me the Nobel Prize began with a simple question: What if we keep dividing graphite into smaller and smaller pieces until it can’t be divided any further? This curiosity led to the discovery of graphene, the thinnest material in existence. It is through these moments of curiosity and daring to think beyond routine that we make our most significant breakthroughs, often the turning points of our careers,” he added.

Meanwhile, Indian aerospace scientist and Padma Bhushan awardee Nambi Narayanan shared the challenging journey of ISRO scientists in developing a liquid-fueled rocket engine. This technology now powers many of the country’s successful space missions and marks a pivotal moment in the nation’s space exploration efforts.

  • Also read: ANRF will connect all STEM areas: UoH VC B J Rao

P Veeramuthuvel, Project Director at ISRO, also addressed the convocation, discussing the challenges faced during the Chandrayaan-3 mission. He stressed the importance of learning from failures, highlighting resilience, teamwork, and rigorous testing as crucial elements in overcoming obstacles and achieving success.

Anand Jacob Verghese, Chancellor of HITS and Chairman of the Hindustan Group of Institutions, called on the new graduates to harness their knowledge and skills to make a meaningful impact on society. He urged them to work towards creating a brighter future for themselves and future generations

Youngsters will learn if you challenge them: Ashok Jhunjhunwala

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“Impossible is possible. Things might sound impossible, but you must be ready to take up the challenge and connect a team. Our youngsters are talented, and we need to inspire them,” said Prof. Ashok Jhunjhunwala after receiving the businessline Iconic Changemaker Award.

“Today, we have one million engineers graduating every year. Now, we have the numbers. With desire and will, students can learn and develop skills. Youngsters will learn if you challenge them,” he added.

Prof. Jhunjhunwala, a teacher, inventor, entrepreneur, and mentor, has helped transform the lives of millions over the last four decades. The IIT Madras Research Park and its subsidiary, the IIT Madras Incubation Cell, both of which Prof. Jhunjhunwala played a key role in establishing, stand as prime examples of successful academia-industry partnerships. Under his leadership as President, the Research Park has developed numerous cutting-edge technologies and given rise to over 300 start-ups, mentored by IIT Madras faculty.

  • Also read: ‘We have to preserve the wonderful treasure that Nature has given us’
Role of industry

“Industry should be able to harness the skills of youth. Industry and entrepreneurship must go hand in hand. Academic knowledge is used to train students, but it should also be applied to develop products. Only then will the industry have an option other than importing technology. Earlier, I observed very little interaction between industry and academia. I worked to bring them together, but achieving this was a huge struggle. Imported technology was unaffordable, and we can build our own,” he explained.

“Generations are getting brighter, and they are in large numbers. We have to motivate them and provide direction so they can conquer the world. Industry and academia must come together and take on significant tasks,” he emphasised.

It was Prof. Jhunjhunwala’s idea for mobile-to-mobile fund transfer, and the technology he developed for it became the foundation of the Unified Payment Interface (UPI), which today stands as a testament to India’s technological prowess on the global stage.

Academic knowledge is used to train students, but it should also be applied to develop products. Only then will the industry have an option other than importing technology.Prof Ashok Jhunjhunwala Teacher and Inventor

ANRF will connect all STEM areas: UoH VC B J Rao

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Anusandhan National Research Foundation (ANRF) Act, 2023, is a very significant departure from the previous models of Research & Technology implementation schemes in the country and its vision is guided largely by the philosophy of National Education Policy (NEP), according to B J Rao, Vice Chancellor, University of Hyderabad (UoH).

For the first time in the country, ANRF has been set to comprehensively connect Science, Technology, Engineering and Mathematics (STEM) areas with scientific and technological interfaces of humanities and social sciences streams for promoting and monitoring a multidisciplinary functioning across the entire system, particularly involving universities and colleges, research institutions, industries and State and Central Government, public/private sector enterprises, Rao said in a statement. 

“The primary focus would be to set up a research ecosystem that productively binds all the above-mentioned stakeholders into aligning towards India’s participation in key areas of research/innovation that is of national/global importance, supporting translation of research into capital intensive technological innovations, keeping the national strategic needs and public good in focus,’‘ he added. 

According to him, the ANRF serves as an apex body that provides a high level of effective strategic direction for the country’s research, innovation and entrepreneurship landscape by providing appropriate levels of funding, facilitation of a comprehensive and competitive ecosystem involving collaboration of researchers from within and outside India. Importantly, the new ecosystem is to function without impediments for achieving rapid progress.

Prime Minister Narendra Modi chaired the first meeting of the Governing Board of ANRF on September 10 and stressed on the need to identify and remove obstacles in the research ecosystem of the country. 

Ashok Leyland aims to touch one million students by 2030 with ‘Road to School’ project

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Ashok Leyland’s Road to School (RTS) programme has won businessline’s Changemaker award in the Chairperson’s Award category, which has been introduced this year.

The firm’s initiative was first conceived to address poor learning outcome in government primary schools in the remote districts of Tamil Nadu.

Starting with 36 schools in Krishnagiri district, the RTS programme has now expanded to 2,400 schools impacting 2,30,000-plus students across five States – Tamil Nadu, Karnataka, Jammu & Kashmir, Uttar Pradesh and Assam.

It also has an outreach in Alwar in Rajasthan and Bhandara in Maharashtra.

  • Also read: ‘We have to preserve the wonderful treasure that Nature has given us’

The motivation behind RTS was to build a strong foundation for primary school children by conducting remedial classes, bridging the learning gap, developing foundational literacy and numeracy, promoting hygiene and wellness, and unleashing their creativity through art.

On the programme’s win, Shenu Agarwal, Managing Director and Chief Executive Officer, Ashok Leyland, said, “The Road to School programme is in its ninth year now. We started small with 30 odd schools and now we are very proud to have reached 2,400 schools spread across six States and we have partnered with more than 3,00,000 students.”

Agarwal said that the company aims to impact one- million students by 2030.

“Our mission is to impact one million students over the next few years. We have set up a target of 2030 to reach that milestone,” he said, adding that the company is looking at some more States to expand, including one of the Northeastern States, looking at government schools for students from classes I to VIII.

At Design for Change, we let children find creative solutions: Kiran Bir Sethi

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An alumni of the prestigious National Institute of Design (NID) and founder of Riverside School in Ahmedabad, Kiran Bir Sethi launched the ‘Design of Change’ movement in 2009 aimed at making children the future change makers of the world. 

Design for Change goes beyond teaching and encourages students to solve everyday problems they encounter as individuals, as a family or as part of a larger community. It works on a simple formula where children are asked to feel about an issue plaguing them or their surroundings, imagine a solution to that problem, act in a way to bring about a change and share the story of change with the world. In this way, every idea or solution that the child brings to life, not only breaks down barriers of conventional education, but also proves that age is no bar for ushering in change.

“ I did not set out to be a changemaker. It started when I became a mother. I saw an education system which rewarded mere compliance. We brought in the ‘I can’ mindset. focusing on feeling, imaging, doing and caring. Today, children globally are following this mindset,” said Kiran Bir Sethi after receiving businessline’s Changemaker Award for 2024 in the Change for Social Transformation category. Sethi was accompanied at the award function by her husband Geet Sethi — a billiards world champion who dominated the cue sport in the 1990s.

Largest movement

The Design for Change is the largest movement of change by and for children. It is spearheaded by a global network of passionate community leaders, social entrepreneurs, designers and educators who nurture children.

Today, Kiran Sethi heads this global movement, where DFC provides training and tool kits free to their global partners so that they can contextualise and translate it and ‘We are in the 16th year now,” she says.

By 2024, DFC’s impact had soared to remarkable heights, receiving over 40,000 stories of change and engaging more than 2 million children across 73 countries in actively addressing societal challenges. This multi-award-winning system has also transformed educators worldwide, with close to 1.12 lakh teachers actively participating in this movement.

Going forward, Kiran Sethi is looking to go deeper into India with her model of education by connecting with State government- run schools. Her pilot programme involving 100 Gujarat government schools has seen attendance and participation in these schools rising. The interventions are small and not resource-heavy, involving modern-day gadgets used for learning in schools. She is now looking to extend the effort to 1,000 schools in Gujarat and connect with other States.

Lam Research joins hands with 20 Indian universities to foster semiconductor talent

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Lam Research Corp has announced that 20 Indian universities will avail the Semiverse Solutions virtual innovation infrastructure to train and develop future engineers for the semiconductor industry.

The announcement was made at the SEMICON India conference at Noida. In 2023, Lam announced its aim to upskill up to 60,000 engineers over the next 10 years in India. 20 universities were shortlisted from a list of around 75 that signed up for the programme.

“Lam is committed to fostering the growth of the Indian semiconductor ecosystem. The addition of Semiverse Solutions virtual semiconductor environments to the selected 20 academic institutions will reach more than 2,600 students this academic year across the country and demonstrates significant progress towards our initiatives to help ready the next generation of semiconductor talent in India,” said Rangesh Raghavan, corporate vice-president and general manager at Lam Research India.

Following a pilot at the Indian Institute of Science (IISc), Lam signed a tripartite memorandum of understanding (MoU) with the India Semiconductor Mission (ISM) and IISc for the broad deployment of Semiverse Solutions to key universities in the country.

The company previously announced a contribution of $29 million in software licences towards the MoU, while ISM would support the establishment of infrastructure and operational costs. IISc will “train-the-trainers” at the selected universities, while Lam will deploy a dedicated team of employees to support the expansion across the country.

“Launched during PM Modi’s state visit to the US in 2023, the Semiverse Solutions training programme is critical to achieving our skilling objectives to develop the talent needed to support the anticipated growth of the semiconductor industry,” said Akash Tripathi, CEO, ISM.

“This programme is an excellent example of what can be achieved when government, industry, and academia work towards a common end.”

The 20 universities can use SEMulator3D®, a 3D semiconductor process and integration modelling software part of the Semiverse Solutions platform, with a goal to accelerate India’s semiconductor education and workforce development objectives.

The software is supposedly used by the world’s largest semiconductor companies, manufacturers, and foundries to model complete process flows and predict downstream ramifications of process changes that would otherwise require build-and-test cycles in the fab.

Using SEMulator3D is expected to help students learn to develop process flows and perform automated virtual experiments at significantly lower cost, and environmental impact.

Hyderabad gets its own Handloom Technology Institute

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Aspirants who were earlier going to neighbouring States like Odisha and Andhra Pradesh can now study handloom technology locally. Telangana, Chief Minister, A Revanth Reddy inaugurated the Indian Institute of Handloom Technology (IIHT) here on Monday.

The Institute will provide advanced training and education in handloom techniques. The State Government has decided to name the newly established IIHT after Konda Laxman Bapuji, a veteran freedom fighter who fought for the Statehood of Telangana

Speaking at the occasion, Reddy said that an appeal to the Centre to establish IIHT in Telangana has come true. “The Center responded positively to the Telangana government’s request and approved the establishment of the institute. Government directed the authorities to start work for the Handloom Technology Institute this year itself,” he said.

Skill University has already been opened to impart skill training to the students in the Telangana State and necessary steps will be taken to set up the IIHT campus in the Skill University next year, he added.

Telangana Government has already released ₹290 crore dues to weavers. Reddy further said that “63 lakh Self Help Groups members are registered in the State. The State government has decided to distribute two sarees to each group member every year free of cost. Instructions have already been given to the authorities to come out with good design and quality of sarees.

The State Government will waive ₹30 crore handloom loans taken by the weavers, he said.

The State Government has also decided to give the order to manufacture of 1.30 crore sarees to the weavers annually. Officials are instructed to prepare an action plan for the conduct of elections to co-operative Unions ( Samakya Sanghalu).

Byju’s auditor BDO resigns amid financial and governance concerns

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Embattled edtech startup Byju’s has informed the company’s board that MSKA & Associates  (BDO) has resigned as a statutory auditor with immediate effect.

BDO resigned amid concerns over ‘financial’ and ‘governance’ issues. The exit comes more than a year after Deloitte, the edtech company’s previous auditor, stepped down, citing problems with financial reporting.

Byju’s board had first appointed MSKA & Associates on August 2, 2023. Subsequently, it was reappointed on December 20, 2023, as the company’s statutory auditor during the annual general meeting for five years, spanning from FY23 to FY27. This will affect the firm’s audit for FY23 accounts.

In its resignation letter, BDO highlighted several issues, including delays in financial reporting, lack of support from management, and concerns over recovering outstanding dues from a Dubai-based entity.

“The real reason for BDO’s resignation is Byju’s firm refusal to backdate its reports, while BDO went to the extent of recommending a firm that could facilitate such an illegal activity,” Byju’s said in the statement.

BDO highlighted an allegedly suspicious transaction involving Dubai-based reseller More Ideas General Trading LLC, which had been reported to the corporate affairs ministry on September 2. The transaction involves the recovery of about ₹1,400 crore from the reseller.

“Regarding the transactions with our Middle East partner in respect of which BDO had sought clarifications in its email of July 17, we wish to make it clear that the suspended board and management of Byju’s, had taken the proactive step of arranging a forensic audit, fully transparent and supervised by BDO, to ensure that there were no issues well before their email on July 17,” Byju’s said, highlighting that the forensic audit could not be completed due to the initiation of the insolvency process.

During the first meeting of the Committee of Creditors held on 3 September 2024, the IRP explicitly noted that he had repeatedly reached out to BDO for clarification during the last 45 days but had received no response, said the company in its statement.

“BDO’s lack of communication with the Insolvency Resolution Professional (IRP) is surprising and suspicious,” it noted.

Byju’s insolvency petition

On July 16, the Bengaluru bench of NCLT ordered initiation of insolvency proceedings against Byju’s, on a Board for Control of Cricket in India (BCCI) petition claiming Rs 158 crore

Founder Byju Raveendraapproached the NCLAT and was close to settling the dispute with BCCI after approval by the appellate tribunal . However, on August 14, the Supreme Court stayed the NCLAT order that had approved the settlement.

The apex court also allowed the constitution of a committee of creditors (CoC) on August 21.

EKI Energy launches EKI Academy to advance sustainability education

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EKI Energy Services Limited (EKI) has announced the launch of its new educational initiative, EKI Academy, aimed at providing specialised training in environmental services. The academy seeks to meet the growing demand for expertise in areas such as greenhouse gas (GHG) accounting, carbon offset development, and sustainability practices.

The shares of EKI Energy Services Limited (EKI) were trading at ₹330.80, up by ₹2 or 0.61 per cent on the BSE today at 12.16 pm.

EKI Academy will offer a range of courses, including GHG Accounting, Carbon Credits, ISO compliance, and Environmental, Social, and Governance (ESG) services. The initiative aims to equip professionals and organisations with the tools and knowledge required to achieve carbon neutrality and net-zero goals. It also pioneers advanced training in emerging areas like Nature-Based Solutions (NBS) and Extended Producer Responsibilities (EPR), reflecting EKI’s commitment to staying at the forefront of climate solutions.

The academy was introduced as a natural extension of EKI’s broader mission to lead global efforts toward a low-carbon future. EKI’s Chairman, Manish Dabkara, said, “We have been planning to launch the EKI Academy for a long time and now that it has formally materialised, it is a very inspiring time for all of us. This academy is a natural extension of our mission to lead the global transition towards a low-carbon and sustainable future.”

NCERT report proposes inclusion of class 9-11 marks in class 12 board results

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The National Council of Educational Research and Training (NCERT) has suggested a new evaluation model, proposing that students’ performance in Classes 9, 10, and 11 should contribute to their Class 12 board results.

The suggestions were made in the report titled ‘Establishing Equivalence across Education Boards’ (released in the month of July). The report suggested a progressive assessment framework for Classes 10 and 12. The new framework divides the academic year into two terms.

The report also recommended that Class 12 board results to now include marks from Classes 9, 10, and 11.The report mentioned, “The weightage of formative and summative marks will be adjusted progressively from class 9 to class 12, increasing the emphasis on summative assessment as learners advance in grades.”

  • Also read: Education Ministry asks NCERT to review, update textbooks on yearly basis

“Specifically, class 9 features a 7 per cent formative and 30 per cent summative split, class 10 an equal 50 per cent formative and summative division, class 11 a 40 per cent formative and 60 per cent summative distribution, and class 12 a 30 per cent formative and 70 per cent summative ratio.”

“Consequently, the cumulative marks at the end of the secondary stage are 15 percent for class 9, 20 percent for class 10, 25 percent for class 11, and 40 percent for class 12,” the report mentioned. This means that students’ performance over the years will play a significant role in their final scores.

The suggested assessment framework for learners in classes 9 through 12 will employ a comprehensive approach that balances both, formative (ongoing) and summative (end-term) assessment methods to provide a holistic view of learners’ progress.

For classes 10 and 12, the assessment framework will be divided into two terms, the report suggests. “Terms will feature Classroom Assessments through HPCs, involving Portfolio Assessment, Self Assessment, Peer Assessment, Teacher Observation, Group Work, and Laboratory activities,” it mentions.

The report also proposed the End Term Assessment will continue with competency-based assessments using ITMS, with teachers selecting from the question bank. Term II will introduce formative assessment with additional components such as Project Work, Paper Presentations with viva voice, and Group Discussions.

“The summative assessment will consist of a common paper consisting of Long Answers, Short Answers, Very Short Answers, and Multiple Choice Questions linking with the Learning Outcomes, based on the question paper design and blueprint,” the report mentions.

  • Also read: ‘Bharat’, ‘India’ to be used interchangeably in textbooks, debate over it useless: NCERT Chief

ISB, Chanakya National Law University team up to offer social, emotional learning skills

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ISB Online and Chanakya National Law University (CNLU) have entered into a partnership for rolling out a credit-based programme on social and emotional learning (SEL). 

The programme, created by ISB Online, will integrate advanced interpersonal and intrapersonal skills into CNLU’s legal education curriculum. An ISB statement said the collaboration aims to elevate academic offerings and set new industry standards, with a focus on developing accomplished future legal professionals.

Beginning with the 2024-25 academic session, CNLU will offer a two-credit SEL programme as an elective, covering areas such as emotional intelligence, stress management, leadership, and teamwork. 

“The partnership with CNLU has the potential to enhance and enrich the future of legal education. This programme by ISB Online sets a new benchmark in legal education, equipping students with critical skills in emotional intelligence and social awareness,’‘ Sujatha Kumaraswamy, Executive Director, Executive Education and Digital Learning, ISB, said in a release.

Faizan Mustafa, Vice-Chancellor, CNLU, said, “The partnership with ISB Online is a major leap forward in our commitment to providing holistic education. This programme is aligned with our vision of nurturing future leaders who are empathetic, resilient, and ready to take on the world.’‘

Centre allows UPSC to perform Aadhaar-based authentication for candidates’ verifications

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In a first, the Centre on Wednesday allowed the Union Public Service Commission (UPSC) to perform Aadhaar-based authentication to verify candidates’ identity on a voluntary basis, both at the time of registration and during various stages of examinations and recruitment.

The move assumes significance as the commission last month cancelled the provisional candidature of probationary IAS officer Puja Khedkar and debarred her from all future examinations for fraudulently availing attempts in the civil services examination beyond eligibility.

Khedkar has also been accused of misusing disability and Other Backward Classes or OBC (non-creamy layer) quotas, among others.

In a notification, the personnel ministry said the UPSC “is allowed to perform Aadhaar authentication, on voluntary basis, for verification of identity of candidates at the time of registration on ‘One Time Registration’ portal and various stages of examination/recruitment test, using Yes/No or/and e-KYC authentication facility”.

The commission shall adhere to all provisions of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016, “the rules and regulations made thereunder” and directions issued by the Unique Identification Authority of India (UIDAI), the notification added.

Aadhaar is a 12-digit number issued by the UIDAI to all eligible citizens on the basis of biometric and demographic data.

The UPSC had, in July, initiated a series of actions against Khedkar, including the registration of a forgery case against her for availing attempts in the civil services exam by faking identity. Subsequently, the Delhi Police registered a case and started its probe.

Khedkar, who was provisionally allotted the Indian Administrative Service (2023 batch, Maharashtra cadre), was accused of misusing power and privileges during her training in Pune.

In June, the UPSC also decided to use facial recognition and artificial intelligence-based CCTV surveillance systems to prevent cheating and impersonation in its various tests.

Through a tender document, it invited bids from experienced public sector undertakings to devise two tech solutions — “Aadhaar-based fingerprint authentication (else digital fingerprint capturing) and facial recognition of candidates and QR code scanning of e-admit cards” and “Live AI-based CCTV surveillance service” — to be used during the examination process.

The UPSC conducts 14 major exams annually, including the prestigious civil services examination to select officers of the Indian Administrative Service (IAS), Indian Foreign Service (IFS) and Indian Police Service (IPS), besides a number of recruitment tests and interviews every year for induction to Group ‘A’ and Group ‘B’ posts of the central government.

Lakhs of candidates appear in such recruitment conducted across the country.

IIT Roorkee, Jaro Education join hands for Data Science and AI course

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IIT Roorkee, in collaboration with Jaro Education, an online education institute, will launch a Post Graduate Certificate Programme in Applied Data Science and Artificial Intelligence.

The executive programme, offered by the Continuing Education Centre at IIT Roorkee, aims to equip professionals with the essential skills and knowledge required to excel in the fields of data science and AI.

The program duration is 6-8 months.

AI is reshaping the education landscape, offering innovative solutions to traditional challenges. AI will affect almost 40 per cent of jobs around the world, replacing some and complimenting others. As AI technologies continue to advance, they are transforming various industries and altering traditional job roles. This transformation presents both opportunities and challenges, as automation and AI-powered tools streamline tasks.

The Post Graduate Certificate Programme in Applied Data Science & AI at IIT Roorkee is designed to provide a comprehensive learning experience, encompassing both theoretical foundations and practical applications in these two fields.

The curriculum is continuously updated to include recent industry developments, such as Generative AI, ensuring participants are well-versed in the latest advancements.

Participants will gain hands-on experience with essential software tools and technologies, including Python, R, SQL, NoSQL, and cloud analytics.

Live interactive sessions are conducted online by esteemed IIT Roorkee faculty. The programme also includes two optional campus immersions, offering participants an engaging and comprehensive learning experience.

The curriculum addresses the needs of various industries, including technology, healthcare, finance, retail, manufacturing, and telecommunications.

University of Hyderabad faculty members awarded with Har Gobind Khorana Fellowship

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M Shyam Lal, Associate Professor, Department of Animal Biology and Manjari Kiran, Assistant Professor, Department of Systems and Computational Biology, School of Life Sciences, University of Hyderabad (UoH), have been awarded the prestigious Har Gobind Khorana Innovative Young Biotechnologist Fellowship (IYBF) for the year 2023-24 by the Department of Biotechnology (DBT), Ministry of Science and Technology, Government of India.

The DBT established the IYBF to recognise and support exceptional young scientists with innovative ideas and a passion for research in cutting-edge biotechnology fields. This fellowship provides both research grant support and cash award to the recipients. This year, the fellowship has been granted to nine scientists from across the nation.

Shyam Lal’s research focuses on leveraging advancements in nanotechnology and drug delivery for biomedical applications. His team is working to address challenges in treatments for varicose veins, wound healing and antibiotic resistance. They aim to create transdermal patches that deliver Active Pharmaceutical Ingredients (APIs) through engineered nanocarriers and to explore the effects of upconversion nanoparticles in light-sensitive medications.

Manjari Kiran’s research group is dedicated to characterising various types of non-coding RNAs and understanding the role of RNA modifications in their regulation. The group is also involved in developing user-friendly, publicly available scientific tools for next-generation sequencing data analysis, bioinformatics prediction and computational characterisation of molecular players in human health and disease, according to a release. 

University of Southampton to open Gurgaon campus by July 2025

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The UK’s University of Southampton has been granted a licence by the Indian government to establish a comprehensive campus. The branch campus in Gurgaon will start academic programs in July 2025.

According to M Jagadesh Kumar, Chairman, UGC, the courses will cover business and management, computing, law, engineering, art and design, biosciences and life sciences.

“With the starting of an Indian campus of the University of Southampton will be beneficial for students, in terms of extending course and study opportunities in India, and for research, knowledge exchange, enterprise and engagement,” he said.

  • Read: TAPMI ties up with Southampton Business School for 1-year MSc programme

The degrees awarded by the Indian campus of University of Southampton will be the same as those of the host University. The programs offered in the branch campus of the University of Southampton in India will have the same standards.

It may be recalled that the University Grants Commission (Setting up and Operation of Campuses of Foreign Higher Educational Institutions in India) Regulations, 2023 was notified in November last year. Following this, a Standing Committee was set up to examine proposals from foreign higher educational institutions in India. Applications are to be submitted online.

As of now, Australian universities, including  Deakin University and the University of Wollongong, have opened a branch campus located in GIFT City. Malaysia’s Lincoln University College was the first foreign university to apply through UGC’s dedicated application portal.

Top IT leaders to establish ISB-like institute for deep tech and entrepreneurship in Sri City

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A few top IT leaders are teaming up to set up an ISB-like institute for entrepreneurship and deep technology skills in Sri City, Andhra Pradesh, bordering Tamil Nadu, with the aim of providing a holistic approach to building startups.

“Those with good startup ideas are not able to find the right people with different skills. Though they have good product ideas, they face issues executing the projects. They are not well equipped with the required project management skills,” J A Chowdhary, Chairman of the International Startup Festival (ISF), said.

The institute will have different schools, focussing on verticals such as fintech, agriculture, and manufacturing. A non-governmental organisation (NGO) would be set up to roll out the project.

“They would require domain knowledge along with IT skills to solve the problems in that domain. Industry leaders would give them use cases and mentor them in their journey to solve the problems,” he said.

Chowdhary was a serial entrepreneur and former Director of STPI Hyderabad who laid the foundation for the IT industry here. 

He told businessline that a team of like-minded IT leaders would visit Sri City on September 27-28 to explore a location to set up the institute.

Why Sri City

He said Sri City houses about 250 manufacturing companies, including from countries like Japan and Taiwan, in different industry domains.

Expert Group launches AI-powered e-learning platform

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The Mangaluru-based Expert Group of Institutions has launched an AI-powered learning platform ‘Expert e-learn’.

Speaking at the launch in Mangaluru on Saturday, Ankush N Nayak, Director (Information Technology), Expert Group of Institutions, said ‘Expert e-learn’ is designed to enhance the learning experience for PU (pre-university) science students. It is currently available to students enrolled in Expert’s colleges and coaching classes through an Android-based app. He said it will be accessible to the general public from the next academic year.

Highlighting the features of the platform, he said the ‘Expert e-learn’ app caters to students who need additional support in understanding complex classroom concepts. The platform offers educational videos created by Expert’s teachers. Each topic is broken down into concise 10-minute videos, incorporating interactive questions to engage students. He said success in answering these questions allows students to move forward.

‘EZ’, an AI-powered assistant, enables students to clarify doubts by guiding them to the exact segment of a video or set of notes where they can find the answer, alongside delivering comprehensive explanations.

“Unlike conventional search engines or public AI chatbots, ‘EZ’ provides responses based on NCERT and Expert’s proprietary study materials, ensuring accuracy and relevance. AI also offers notes in multiple languages, making learning more accessible to students in their mother tongue,” he said.

Students can pose questions from various angles, request quizzes, and generate model question papers. The app then evaluates their responses and supplies key solutions, he said.

The ‘Expedition’ feature presents workbooks across various subjects — Physics, Chemistry, Mathematics, Biology, Computer Science, Electronics, Statistics, English, and Indian languages such as Kannada, Hindi, and Sanskrit — in an exploratory manner. By encouraging students to examine concepts from multiple perspectives, ‘Expedition’ seeks to enhance problem-solving skills and foster creativity, Nayak said.

This learning platform runs on an Android tablet provided by the institution. Usage is disabled between 11 pm and 5 am to promote healthy habits among students, he added.

K Ullas Kamath, Founder of UK & Co; Rohith Bhat, Founder of wrkwrk, 99Games and Robosoft; Manjunath Bhandary, Member of Legislative Council, Karnataka; Narendra L Nayak, Chairman of Expert Group of Institutions; and Ushaprabha N Nayak, Vice-Chairperson of Expert Group of Institutions, spoke on the occasion.

Ex-DRDO Chairman Satheesh Reddy joins BITS Pilani

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G Satheesh Reddy, former Chairperson of the Defence Research and Development Organisation (DRDO) has joined Birla Institute of Technology and Science (BITS) Pilani as a Distinguished Senior Faculty to support its Research and Innovation efforts primarily in the domain of national security.

“In his new role, Reddy will be at the forefront of research and academic leadership and will focus on guiding advanced research initiatives, in the Center for Research Excellence in National Security,” a statement from BITS Pilani said here on Friday.

“With a distinguished career in defense technology, Reddy has played a pivotal role in advancing India’s defense capabilities through numerous high-impact projects and innovations during his tenure at DRDO,” it said.

“After nearly 39 years at DRDO, continuing my research with an academic institute is natural. BITS Pilani has long been a partner in research initiatives, and the establishment of Center for Research Excellence in National Security (CRENS) here is particularly a welcome step,” Reddy said.

  • Also read: IIT Indore develops e-shoes for live location tracking

TAPMI inducts second batch of Integrated Management Programme

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The Manipal-based TA Pai Management Institute (TAPMI) conducted the induction programme for the second batch of the Integrated Management Programme (2024-29 batch) in Manipal on Wednesday.

Speaking on the occasion, Vasanth Kamath, Admissions Chair, TAPMI, presented the batch profile to the gathering. He said the batch comprises 66 students with an almost equal gender distribution: 44.7 per cent female and 55.3 per cent male. The batch has students from various streams, with 52.2 per cent coming from the science stream, 40.3 per cent from the commerce stream, and 7.5 per cent from arts and humanities.

He said the current batch of students has diverse representation from 15 states and over 30 cities across the country.

Rajeev Kumra, Director of TAPMI, said that while academic excellence is crucial, the physical and mental well-being of students are equally important. He asked them to embrace opportunities to participate in co-curricular and extra-curricular activities.

TAPMI alumnus (2002-2004 TAPMI Batch), Avinash Bhat, Global Delivery Head for Customer Experience and Data and Analytics at Randstad Digital, was the chief guest on the occasion.

Sathyabama Institute of Science and Technology holds 33rd convocation; 3,508 undergraduate students, 644 postgraduate students, and 122 Ph.D. scholars receive degrees

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The 33rd convocation of Sathyabama Institute of Science and Technology was held on August 18, 2024. The Chief Guest at the ceremony was Ashwin Raja, Co-Founder and Chief Technology Officer of Motorq.

A total of 3,508 undergraduate students, 644 postgraduate students, and 122 Ph.D. scholars received their degrees during the convocation. Besides, 45 exceptional students were awarded gold medals for their exemplary academic performance and dedication to studies.

For the academic year 2023-24, 417 companies participated in campus recruitments, with 3,053 job offers being made to the students. Around 92.72 per cent of the graduates secured placements through the campus recruitment programme. The highest package offered was ₹50 lakh per annum, while the average cost-to-company (CTC) stood at ₹5.75 lakh per annum.

Chancellor Dr. Mariazeena Johnson, presided over the event in the presence of President, Dr. Marie Johnson; Vice-President Ms. Maria Bernadette Arul Selvan; Vice-President Mr. J. Arul Selvan; and Vice-President Ms. Maria Catherine Johnson.

IIT-Madras incubated Yotuh Energy raises ₹1.53-crore funding

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IIT-Madras-incubated Yotuh Energy, a clean tech start-up specialising in electrifying vehicle refrigeration systems for mid-mile and last-mile cold chain logistics, has raised ₹1.53 crore in a funding round led by Campus Angels Network.

Yotuh Energy was founded in 2022 by IIT Delhi alumni Vivek Mahindrakar, Shaivee Malik, and Dharmik Bapodara, and has received grants and awards from the Ministry of Agriculture, DST, MeitY, Acumen, ACIR (US Embassy to India), IIT Madras Incubation Cell, and Daimler India Commercial Vehicles.

Yotuh Energy’s electric active refrigeration system, powered by a Lithium-Ion battery, operates independently of the vehicle’s main engine and makes use of a proprietary adaptive control technology. This helps in intra-city perishable transportation by enabling Small Commercial Vehicles and Commercial EVs for cold chain logistics.

The investment will support Yotuh Energy’s product development, testing, operations, and team expansion. The funds will specifically be used to enhance their proprietary adaptive control technology, eliminate fuel usage, reduce operational expenses, and drive the industry towards greener and more efficient practices.

“Our goal is to make cold chain logistics more accessible, affordable, and sustainable, steering us towards a future driven by innovation and advanced technologies in refrigeration systems,” Dharmik Bapodara, co-founder, Yotuh Energy, said in a statement.

Vinod Dasari, former Managing Director of Ashok Leyland and ex-CEO of Royal Enfield is an advisor to Yotuh Energy. Dasari said: “Yotuh Energy’s pioneering electric refrigeration technology represents a major advancement in cold chain logistics. Their focus on sustainability and efficiency is exactly what the industry needs to move forward, and I am excited to see how their solutions will transform the market.”

Veranda Learning Solutions enters the Middle East

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Veranda Learning Solutions, the Chennai-based solution provider in the education space, has forayed into the Middle East through its brand, JK Shah Classes. The company is partnering with Jumeira University Connect, the training arm of Jumeira University, to introduce a Chartered Accountancy (CA) preparation course for students in the UAE.

  • Also read: Veranda Learning Solutions pre-closes two loans worth ₹220 crore

The CA preparation course, designed and delivered by JK Shah Classes, has been crafted to meet the standards of the Knowledge and Human Development Authority (KHDA), the regulatory authority of the Government of Dubai.

The curriculum has been designed to align with the specific educational needs and cultural context of students in the UAE, ensuring a comprehensive learning experience that combines global best practices with local relevance. KHDA’s approval further ensures that the program adheres to the highest educational standards required for the professional development of students in Dubai and the wider UAE, said a release.

The share price of Veranda Learning Solutions on the BSE closed at ₹297.20, up 4.68 per cent.

Canara Bank disburses ₹18 crore in scholarships to advance educational opportunities

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Public-sector Canara Bank on Thursday, organised scholarship distribution camps across the country. The initiative involved 177 Regional Offices and 26 Circle Offices and was carried out in all 7,457 branches of the bank. This year, the bank has disbursed scholarships amounting to ₹18 crore benefitting 44,742 students.

  • Also read: Canara Bank raises MCLR by 5bps 

Launched in 2013-14, Dr. Ambedkar Vidya Jyothi Scholarship scheme aims to provide financial assistance to SC/ST girl students across India to advance their educational opportunities. Previously, the scholarship has been extended to 95,000 students over the past 11 years with a total disbursement of ₹46 crore.

“Through this scholarship, we want deserving girl students from underprivileged communities to achieve greater heights,” said Shri. K Satyanarayana Raju, MD & CEO, Canara Bank in a release.

75k new medical seats to be created in next five years, says PM Modi

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Prime Minister Narendra Modi on Thursday announced that 75,000 more medical seats will be created in next 5 years. This will help to achieve not just developed nation but also a healthy nation by 2047.

  • Also read: Strictest punishment for culprits of crimes against women, says PM Modi on Independence Day amid outrage on Kolkata murder case

“Around 25,000 youths, every year, go abroad for medical education I get surprised when I hear about them. So, we have decided, 75,000 new seats will be created in the medical line in the next five years,” the Prime Minister said in his Independence Day speech.

Colleges on rise

The Union Health Ministry, recently told the Rajya Sabha that there has been an increase of 88 per cent in medical colleges in the country, from 387 in 2014 to 731 in 2024. MBBS seats went up by 118 per cent from 51,348 in 2014 to 1,12,112 now. There is also an increase of 133 per cent in PG seats from 31,185 in 2014 to 72,627 now, it stated.

Taking note of this rise, he said that Modi said medical seats have been increased to nearly one lakh in the past decade but many from the middle class still go to other countries for medical education and spend “lakhs and crores” on medical education abroad.

Other initiatives

He also emphasised that a developed India of 2047 should also be a healthy India. “Viksit Bharat 2047 should also be a healthy Bharat. And for a healthy Bharat, there is a need to pay attention to the nutrition of today’s children starting now. Keeping this in mind, we have implemented a nutrition campaign for the first generation of Viksit Bharat,” he said.

  • Also read: PM Modi calls for secular civil code, says existing laws discriminatory

He further said there has been tremendous progress as far as infrastructure is concerned in the last 10 years and listed projects, such as broadband connectivity, building new schools in villages and forest areas, construction of hospitals in far and remote areas, setting up Ayushman Arogya Mandirs and work on medical colleges, among others.

Vision for India’s future: State-level investment competition, fresh blood in politics

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Prime Minister Narendra Modi on Thursday presented a 14-point agenda as part of a ‘Vision for India’s Future’. This includes competition among states for investment and green jobs.

Delivering his 11th successive Independence Day address to the nation from the ramparts of the Red Fort, Modi outlined a series of goals aimed at shaping the country’s growth, driving innovation, and positioning the country as a global leader across various sectors. At the end of the speech marking the country’s 78th Independence Day, the government released a statement highlighting the agenda outlined by the PM.

On efforts to attract more investment, the PM said projects are usually established in the states, so more work is required at their end. “The Prime Minister called for state governments to establish clear policies to attract investments, offer assurances of good governance, and ensure confidence in the law-and-order situation,” the statement said. “It may be noted that lot of procedures such as compliance of labour law, water and electricity connection, required to be certified by State governments and local bodies,” it added.

Green goals

On the need to accelerate growth alongside efforts to combat climate change, he said the focus is now on green growth and green jobs, which will generate employment while contributing to environmental protection. The Prime Minister reiterated India’s commitment to becoming a global leader in green hydrogen production and creating sustainable employment opportunities in the environmental conservation and renewable energy sectors.

“The Prime Minister reiterated India’s ambitious goal of achieving 500 gigawatts of renewable energy capacity by 2030. He noted that India has been the only country among the G20 nations to meet its Paris Accord goals,” the statement said.

Gaming prowess

Taking note of two rising sectors — domestic semiconductor manufacturing and gaming — Modi outlined India’s commitment to becoming a global leader in semiconductor production to reduce dependence on imports and enhance technological self-sufficiency. He also said India must leverage its rich ancient legacy and literature to come up with ‘Made in India’ gaming products. “Indian professionals must lead the global gaming market, not just in playing but also in producing games… Indian games should make their mark worldwide,” he added.

The growth of the manufacturing sector will need a strong skilled labour force, Modi said, referring to the Union Budget’s proposed initiatives to train India’s youth and transform the country into the skill capital of the world. At the same time, there should be emphasis on Indian standards becoming global benchmarks. Equally important is the ‘Design in India, Design for the World’ goal. The Prime Minister exalted indigenous design capabilities and called for creating products that cater to both domestic and international markets.

Youth and politics

Reiterating the need for demographic dividend, he gave a call to bring one lakh youth into the political system, specifically those with no history of politics in their families. “The Prime Minister said this initiative was aimed at fighting the evils of nepotism and casteism and inducting fresh blood into India’s polity,” the statement said.

Highlights of the ‘Vision for India’s Future’ agenda
  • State-level Investment Competition
  • Green Jobs and Green Hydrogen Mission
  • Made in India Chip-Semiconductor Production
  • Skill India
  • Hub of Industrial Manufacturing
  • ‘Design in India, Design for the World’
  • Leader in Global Gaming Market
  • Ease of Living Mission
  • Revival of Nalanda Spirit
  • Indian Standards as Global Benchmarks
  • Climate Change Targets
  • Medical Education Expansion
  • Inducting Fresh Blood in Politics
  • Swachh Bharat Mission

NIRF ranks MAHE fourth in university category

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Manipal Academy of Higher Education (MAHE) has moved up two ranks to fourth place among universities in the National Institutional Ranking Framework (NIRF) survey for 2024.

In the overall rankings, MAHE has secured the 14th position. Many of the constituent units of MAHE are also among the top 10 position under various disciplines. In dental category, Manipal College of Dental Sciences, Manipal, secured second position; Manipal College of Pharmaceutical Sciences, Manipal, stood at eighth position in pharmacy; and Kasturba Medical College, Manipal, secured ninth position in medical category. Manipal College of Dental Sciences, Mangaluru, stood at 11th in dental category. MAHE secured 23rd position in research, and Manipal School of Architecture and Planning, Manipal stood at 28th in architecture.

  • Also read: IIT Madras tops NIRF rankings for sixth consecutive year

The ninth edition of the rankings includes a total of 13 categories. The lists feature rankings of higher education institutions in subcategories, including top universities and colleges, under engineering, medical, legal, management, pharma, architecture, agriculture, and allied sector.

Institutions have been ranked based on parameters such as Teaching, Learning and Resources; Research and Professional Practices; Graduation Outcomes; Outreach and Inclusivity; and Perception.

Quoting Lt Gen MD Venkatesh, Vice-Chancellor of MAHE, a media statement said: “Being included in the NIRF rankings is evidence of our steadfast dedication to academic achievement, creativity, and all-around growth. This honour is a testament to the combined efforts of our staff, teachers, and students to create a climate that promotes growth, learning, and research. We shall keep working to raise the bar for education and make significant contributions to society.”

HS Ballal, Pro-Chancellor of MAHE, said: “Moving up to fourth place in the NIRF rankings from last year’s sixth position is a remarkable achievement that showcases our commitment to excellence. This progress reflects the hard work and dedication of our faculty, students, and staff in fostering an environment of academic rigor and innovation. We are proud of this accomplishment and will continue to push the boundaries to achieve even greater heights.”

St Aloysius College improves ranking from 80 to 58 in NIRF survey

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Mangaluru-based St Aloysius College has jumped up 22 ranks to reach 58th rank among colleges in India in the National Institutional Ranking Framework (NIRF) survey for 2024.

Addressing media persons in Mangaluru on Tuesday, Praveen Martis, Vice-Chancellor of St Aloysius (deemed to be university), said St Aloysius College has been performing incredibly well in all parameters of the NIRF survey in the past few years.

The institution did commendably well in NIRF-2023 in all the criteria and was ranked at 80. He said it is a matter of great pride that, the institution, which is a deemed to be university now, has jumped the NIRF ranking and is awarded 58th position among colleges in 2024.

The institution was recently elevated to the status of a deemed-to-be university by the UGC and the Union Ministry of Education.

NIRF survey is conducted by the Government to make a comprehensive and critical assessment of the quality of education imparted by the higher education institutions in India by verifying the data related to teaching, learning and resources; research and professional practice; graduation outcomes; perception; and outreach and inclusivity, he said.

Martis said St Aloysius (deemed to be university) has already launched many new and trending undergraduate, postgraduate and research programmes in the current academic year. The university plans to start School of Education, School of Legal Studies, and select professional programmes in engineering in the upcoming academic years, he added.

Stating that the diversity of students has been growing exponentially in the last few years, Alwyn DSa, Registrar, St Aloysius College, said the college envisages to enhance the enrolment ratio by a substantial number so that it continues and builds on its mission of providing access to higher education attracting a large majority of the regional, state, national and international students.

IIMA proves it is gold standard for management studies, bags top spot in NIRF list for 5th consecutive time

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The Indian Institute of Management Ahmedabad (IIMA) has bagged the title of the best management institute for the fifth consecutive year in the National Institutional Ranking Framework (NIRF) India Rankings 2024, released by the Ministry of Education, Government of India, on Monday.

Since the inception of NIRF ranking in 2016, IIMA first snatched the top position in 2017 and then in 2018. It has continued its winning streak since 2020, stated an official release from the institute. Professor Bharat Bhasker, Director, IIMA, stated, “At IIMA, we are committed to upholding the highest standards in management education and research. We are thrilled to be recognised as the best management institute in India for the fifth consecutive year by the Ministry of Education’s NIRF 2024 rankings. This accolade underscores the exceptional education and pioneering research conducted by our faculty, which has a profound influence on business and public policy. While we take pride in this achievement, it fuels our determination to consistently pursue excellence in all our endeavours and contribute significantly to India’s growth narrative.”

NIRF outlines a methodology to evaluate and rank higher education institutions across the country. The parameters broadly cover – Teaching, Learning and Resources; Research and Professional Practices; Graduation Outcomes; Outreach and Inclusivity; and Perception, the release added. IIM-Bangalore and IIM-Kozhikode were placed second and third, respectively, in the NIRF rankings.

IIT Madras tops NIRF rankings for sixth consecutive year

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Indian Institute of Technology Madras (IIT Madras) has retained the top honours in National Institutional Rankings Framework (NIRF) rankings of the Union Ministry of Education. Union Education Minister Dharmendra Pradhan on Monday announced the results of ninth edition of NIRF India Ranking Results in New Delhi.

IIT Madras retained its No. 1 ranking in the ‘Overall’ category for the sixth consecutive year and in ‘Engineering’ category for the ninth consecutive year, right from the first edition of the Rankings in 2016. In the ‘Research Institutions’ category, IIT Madras retained the last year’s position of Rank No.2. IIT Madras also retained the second rank in ‘Innovations’ category (previously known as Atal Ranking of Institutions on Innovation Achievements), same as the preceding year.

“I congratulate all the institutions that have participated in this year’s NIRF Ranking. It is encouraging to see the enthusiasm among our higher education institutions, and I hope that all 58,000 HEIs will take part in the coming rankings. Out of 58, 000 HEIs, 10,845 applications were received in different categories and 6,507 Institutes participated in the ranking,” the Minister said.

  • Also read: IIT Madras gets largest single donation of ₹228 crore from Alumnus Krishna Chivukula
Accreditation policy

The Minister said, “As we move forward, we recognise the need for more transparency and a progressive approach in evaluating institutions. The feedback from various institutes highlights that not all should be judged by the same factors, and the government is actively working on updating the accreditation policy and will be brought soon in the public domain. Degree is important, competency is even more important. Employability skills is a priority area for us.”

V Kamakoti, Director, IIT Madras, in the release said, “This ninth consecutive NIRF top ranking is more than just an accolade; it’s a validation of our dedication to producing world-class talent and driving impactful research that addresses national and global challenges. We are humbled by this recognition and remain committed to serving the nation through education and innovation.”

Started in 2015, NIRF outlines a methodology to rank educational institutions across the country. The parameters used for ranking broadly cover “Teaching, Learning and Resources,” “Research and Professional Practices,” “Graduation Outcome,” “Outreach and Inclusivity,” and “Perception,” the release said.

Supreme Court refuses to postpone NEET-PG 2024

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The Supreme Court on Friday refused to reschedule the postgraduate National Eligibility-cum-Entrance Test (NEET-PG) 2024 fixed for August 11.

A three-judge Bench headed by Chief Justice of India DY Chandrachud pointed out that two lakh aspirants were expected to appear in the exam.

“More than two lakh students and close to four lakh parents will weep over the weekend if we even touch this matter… Nowadays people just come to postpone this exam or the other,” Chief Justice Chandrachud remarked.

Noting that there were only five petitioners in the Supreme Court, the CJI said “we cannot put the careers of so many candidates at risk just because of these petitioners”.

Appearing for the petitioners, senior advocate Sanjay Hegde submitted that the controversy over paper leaks and allocation of exam centres in the undergraduate NEET 2024 exam had had an impact on NEET-PG 2024.

“What happened in NEET UG has affected the NEET PG. Exam centres were cut down from 1,200 to 500,” Mr. Hegde said. The petitioners had sought postponement of the NEET-PG exam claiming that candidates were allocated cities inconvenient for them to reach.

  • Also read: 74 students scored centum in NEET UG since inception, 91% of them cleared the exam in 2024

The CJI, at this point, wondered who was really behind petitions seeking reschedulement of exams. “We don’t know who is behind these petitions, We are not talking about your clients… but a larger number of centres always serves the purpose of those who want to cheat the system,” the Chief Justice remarked.

Noting that the court was not in favour of rescheduling the exam, Mr. Hegde said the Bench should at least intervene with a direction to the authorities to hold one exam per day.

He said the current schedule was grueling with two exams, one paper in the morning and the second one in the afternoon, a day.

“Then it will be normalised. Normalisation will lead to other problems… Normalisation is inherently problematic,” Mr. Hegde submitted.

But the court did not budge. The CJI said, “it is not a perfect world and we are not academic experts. Three of us cannot be expected to sit down and devise a new policy better than the existing one”.

The Chief Justice said that while the petitioners were rooting for idealistic remedies, the court had to consider the complexities of society and the challenges of necessarily conducting large exams in an “extremely diverse, geographically diverse, physically diverse, culturally diverse nation”.

The NEET-PG exam was initially supposed to be held on June 23. It was postponed by the Union Health Ministry as a “precautionary measure” in the wake of alleged irregularities in certain competitive exams.

Veranda Learning Solutions pre-closes two loans worth ₹220 crore

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Chennai-based education technology company Veranda Learning Solutions Ltd had pre-closed two loans worth ₹220 crore that were procured from two large corporate groups to fund two acquisitions. While the transactions happened in Q4 of last fiscal, the payouts happened in April. There was a one-time pre-closure cost of ₹9 crore during the June quarter, said the company’s Executive Director and Chairman, Suresh Kalpathi.

  • Also read: Veranda Learning targets ₹600 crore revenue through institutional partnerships

The loan from Hinduja group was used to finance JK Shah Education’s acquisition (₹338 crore for 76 per cent stake) of about ₹100 crore in October 2022. In September 2023, a loan was procured from Piramal group of around ₹120 crore for chiefly the acquisition of managed schools, he told businessline.

In the June quarter, the company reported a higher net loss of ₹25 crore as against ₹19 crore in the corresponding quarter of last year. This was on a 73 per cent increase in revenue to ₹119 crore (₹69 crore). The higher net loss was due to higher finance cost and depreciation cost. Finance cost for the quarter stood at ₹30 crore. This includes ₹9 crore cash interest paid on the Non-Convertible Debentures (NCDs) issued, and non-cash expenses of ₹13 crore pertaining to the unwinding of acquisition-related liabilities and accrued premium on the NCDs issued.

The finance cost was mostly higher interest cost at 17.5 per cent to Barings PE for acquisition-related financing. This will be replaced by low cost debt or closed from earnings progressively, Suresh said.

  • Also read: We will continue to explore new acquisitions, says Veranda Learning’s Suresh Kalpathi

The depreciation cost for the quarter includes non-cash expense of ₹13 crore arising out of amortisation of intangible assets pertaining to the acquisitions completed, he added.

Founded in 2018 by the Kalpathi AGS Group, Veranda offers a bouquet of training programs for competitive exam preparation, including State Public Service Commission, Banking, Insurance, Railways, IAS, and CA, and various professional skilling and upskilling programmes.

In the June quarter, the company achieved an EBITDA of ₹28 crore, up significantly from ₹5.64 crore reported in the same quarter last year. The total number of students trained by the Veranda Group for Q1 FY25 stood at 1.13 lakh, says a release.

“This quarter’s performance is a clear indication that our focus on building sustainable and profitable operations is on the right track. We are steadfast in our goal to achieve a revenue target of ₹600 crore in FY25, a milestone that reflects our commitment to excellence and our confidence in the sector’s potential,” said Suresh. In FY24, the company reported revenue of ₹362 crore.

During the June quarter, Veranda K-12 and Cambridge expanded their partnership to introduce educational programs in Eastern India. Veranda XL Learning Solutions and Sri Krishna Arts and Science College in Coimbatore signed a MoU to offer a B. Com course with the added benefit of ACCA (Association of Chartered Certified Accountants) accreditation.

At the time of filing this report, the company’s stock price on the NSE was trading at ₹291, up by 1.54 per cent.

IIT Indore develops e-shoes for live location tracking

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The Indian Institute of Technology (IIT) Indore has delivered 10 pairs of Tribo-Electric Nanogenerator (TENG)-based shoe sole energy harvesting units to the Defence Research and Development Organisation (DRDO), which will help in live location tracking of jawans and can help improve the performance of athletes as well.

Developed in collaboration with DRDO, the shoe harnesses energy from human motion to power electronic devices and with help of a satellite-based GPS module offers precise live location tracking, IIT Indore said.

Other than the military use, these TENG-powered shoes have the potential for civilian and industrial applications. Families can use the shoes to keep a tab on elderly members, especially those suffering from Alzheimer’s disease.

Parents, too, can monitor their children’s whereabouts throughout the school day, and schools can use RFID technology to maintain accurate attendance records.

In industrial settings, the shoes can be used for attendance tracking and to monitor workers, the release said.

The shoes can also be used to analyse athletes’ foot movements, which can help improve performance and training techniques.

For trekking and mountaineering enthusiasts, the self-powered GPS feature can be used to ensure safety and efficient navigation, it added.

The R&D breakthrough showcases a significant leap in integrating sustainable energy solutions with advanced tracking technologies. The shoes have been developed under the guidance of Prof I A Palani, faculty at IIT Indore, a statement from the Institute said.

“The military applications of this technology are noteworthy. The real-time location tracking capabilities enhance the safety and coordination of military personnel, boosting operational efficiency and security. The TENG-powered shoes can support essential GPS and RFID systems, providing a self-sustaining and dependable solution for various military needs,” IIT Indore Director, Prof Suhas Joshi, said.

These advancements offer sustainable and practical solutions for a wide range of needs, highlighting IIT Indore’s pivotal role in pioneering the future of defence technology, Joshi added.

Prof Palani said, “The TENG system in these shoes utilises advanced tribo-pairs, Fluorinated Ethylene Propylene (FEP) and Aluminium, to generate power with each step. This energy is stored in a central device within the shoe sole, ensuring a reliable power source for small-scale electronic circuits.

Additionally, the shoes feature sophisticated tracking technology, including RFID (Radio Frequency Identification) with a 50-metre range and a satellite-based GPS module, for precise live location tracking.”

IIT Madras gets largest single donation of ₹228 crore from Alumnus Krishna Chivukula

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Indian Institute of Technology Madras (IIT Madras) on Tuesday received the largest single donation in its history of ₹228 crore from its Alumnus Krishna Chivukula (MTech, 1970), founder of INDO US MIM Tec in Bengaluru to produce small metal and ceramic components with complex geometries in high volumes.

Chivukula graduated with a M. Tech (Aerospace Engineering), majoring in Jet Propulsion in 1970 from IIT Madras. In addition, he received an MBA from The Harvard Business School in 1980.

In 1997 brought to India an engineering manufacturing technology called ‘Metal Injection Molding (MIM)’ while it was still an emerging technology in the US. Presently his company is a leader in MIM technology in terms of capacity and sales and has a projected turnover of nearly ₹1,000 crore, says a release.

IIT Madras named an academic block in honour of Krishna Chivukula – Krishna Chivukula Block.

This donation will be utilised for multiple purposes including supporting international students to study at IIT Madras through a Scholarship, Research Excellence Grant Program, an UG Fellowship Program for freshers at IIT Madras, Sports Scholar Program, Shaastra Magazine development and the Krishna Chivukula Block Maintenance, among other activities.

Chivukula told newspersons that the donation was given in his personal capacity. “I donated because it makes me happy. Happiness helps in leading a healthy life. I also studied at IIT Bombay and I would be donating to that institute too. I hope the donation creates a spark among entrepreneurs and philanthropists, and they will donate to various institutions in India,” he added.

IIT Madras raised a historic high of ₹513 Crore during 2023-24, a 135 per cent increase from the previous financial year. The number of donors giving over ₹1 Crore to the Institute was 48 (16 alumni donors and 32 Corporate Partners). The funds were raised from IIT Madras alumni and individual philanthropists in addition to CSR funds and grants from Indian as well as Multinational Corporate firms, says the release.

The total amount raised through alumni alone during 2023-24 was ₹367 Crore, which is an increase of 282 per cent compared with the previous year, the release said.

Medical education was a business before NEET; PG seats sold for ₹8-13 crore: Nadda

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Health Minister J P Nadda on Friday defended the National Eligibility-cum-Entrance Test (NEET), which is under the scanner over paper leak cases, saying medical education had become an open business before the NEET was introduced and PG seats were sold for ₹8 crore-13 crore each.

The minister intervened during a discussion on a private member’s bill on the NEET moved by Rajya Sabha member M Mohmed Abdulla and said corruption was rife in medical education before the NEET was brought in during his first stint as health minister.

“Medical education had become the den of a business. When I was health minister and was bringing NEET, one seat of post graduation was sold for ₹8 crore each and if you had to opt for a discipline like radiology then it was ₹12-13 crore,” Nadda said.

  • Read: MBBS seats increased by 87%, PG by 105% during NDA rule

He said that before the NEET came in, students had to travel nationwide for medical exams.

The minister said that in addition to the money and time spent, the students also had to deal with huge corruption in the medical education system.

“The admission list used to be put up for 30-45 minutes and afterwards it use to be said students did not come, therefore, we are using these seats at our discretion. It had become a business. There was a vested interest. The matter was pending before the Supreme Court for long time,” Nadda said.

Nemetschek India and ICT Academy sign MoU to boost digital transformation in education

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Nemetschek India, a leading global software provider for the architecture, engineering, and construction (AEC) industry, has signed a memorandum of understanding (MoU) with ICT Academy, Chennai, to enhance digital transformation in education through advanced technology and training programmes. This gives Nemetschek access to over 1,000 member engineering colleges of ICT Academy.

The MoU outlines a strategic partnership focusing on upskilling students and professionals, preparing them for the industry’s evolving demands. According to a release, the association will leverage Nemetschek’s novel software solutions and ICT Academy’s expertise in technology education to create a comprehensive learning ecosystem.

The association will include the development of joint workshops, seminars, and certification initiatives designed to provide hands-on experience with Nemetschek’s software tools. These efforts aim to enhance participants’ technical proficiency and industry readiness, ensuring they are well-prepared to meet the demands of the rapidly evolving AEC industry while supporting the ICT Academy’s mission to encourage creativity and entrepreneurship among its students.

Skill university to kick off classes in Telangana with 2,000 students this year

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With a view to creating a skilled workforce, the Telangana government introduced a Skill University Bill in the Assembly on Thursday. The Young India Skill University, which will work out of a temporary campus this academic year, will have a permanent campus at Meerkhanpet near Hyderabad.

Addressing the House, Chief Minister A Revanth Reddy said that the university would create thousands of skilled personnel, helping them find employment opportunities.

“We are going to introduce 17 courses in the university. On completion, the students will get a certificate. We are going to charge a nominal annual fee of ₹50,000. We will consider offering fee reimbursement to the students belonging to SC, ST, and OBC categories,” he said.

He later laid the foundation stone for the university campus at Meerkhanpet near here.

Introducing the Bill in the House, D Sridhar Babu, Minister for IT, Industries, and Legislative Affairs, said that there was a huge demand for jobs. “Even if we provide jobs to two lakh people, there will be another 20 lakh youth that seek employment opportunities. The skill university will equip them with niche skills that will help them find jobs,” he said.

In the current academic year, about 2,000 students will be inducted into the university. In the second year, the number would go up to 10,000, the Minister said.

NEET UG 2024 counselling registration to begin on August 14, confirms NMC Secretary

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Dr B Srinivas, Secretary of the National Medical Commission (NMC), stated that the registration process for National Eligibility cum Entrance Test Undergraduate (NEET-UG) 2024 counselling is going to start on August 14.

Candidates will have to visit the MCC website for the latest updates and notices regarding counselling.

“We are starting the counselling (for NEET UG) from August 14. We may prepone the registration process for the students. The process will continue for 2 months, and students across the country who are eligible can participate in it. The counselling will be conducted online in 4 rounds,” said Dr B Srinivas.

  • Read: SC declines pleas to cancel NEET-UG 2024

When asked about any specific guidelines, he added, “The guidelines are the same as last year, students should have passed the NEET which is conducted by National Testing Agency and whoever comes under the eligibility criteria, we will start their counselling as per the data provided by the NTA.”

Earlier, on Friday, the revised NEET UG 2024 results were released, with 17 students achieving a perfect score, marking a 75 per cent drop in the number of toppers from the earlier declared results.

In the results announced on June 4, a record 67 candidates scored a perfect 720 marks, tying for the top spot. Among these, six students were placed at the top due to extra marks awarded for time lost during the exam because of invigilator errors.

Additionally, 44 students achieved the top rank after receiving “grace marks” for incorrectly answering a basic physics question.

However, the Supreme Court on Tuesday decided that there would be just one accurate answer and anyone responding with anything other than that would not receive marks for it.

A retest was also held for the students who lost time during the exam. Following these corrections, the number of qualified candidates has also declined from 1316268 to 1315853 (a difference of 415). The NTA conducted a retest for 1563 candidates who had experienced time loss during the exam.

The NEET UG 2024 examination, held on May 5, has been embroiled in controversy following allegations of paper leaks, irregularities, and time losses during the exam.

Budget 2024: 15x customs duty hike on lab chemicals provokes outcry from academicians

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A steep hike in customs duty on lab chemicals from 10 per cent to 150 per cent in Budget 2024 has surprised researchers. The community has sought clarification and called for exemptions to ensure research continuity.

Laboratory chemicals (Harmonised System Code 9802) include fine chemicals and pure compounds used by the pharmaceutical  and biotech industry and researchers for lab analysis and synthesis. These chemicals are niche in nature and mostly imported.

Tax experts and industry players said the order was likely passed to prevent smuggling and misclassification of chemicals such as ethanol into this code but the steep tax hike will impact research labs and other R&D units that widely use these reagents.

Analysis of trade under this HS Code shows that the value of imports has been sharply rising each year. It was ₹104 crore in FY21, ₹181 crore in FY22, ₹416 crore in FY23, and zoomed to ₹701 crore in FY24.

  • Read:Union Budget 2024 Highlights & Announcements

“There were some news reports in the last year that some importers were using this route to import chemicals at a lower rate and diverting it to pharmaceutical companies and distilleries. The purpose of the entry was to support R&D. However, considering the diversion to non-R&D activities, the government has plugged the loophole by increasing customs duty,” Shashi Mathews, partner, IndusLaw, said. While no exemption is provided, legitimate importers should petition or make a representation to Government to consider introducing an end-use notification so that R&D activities are not impacted, he added.

Blow or boon?

Some biotech firms and academicians consider this move a blow to R&D.

“These are already high-priced chemicals, and the duty hike will make them unaffordable for R&D, increasing the overall cost of consumables,” Dr Sivaram Pillai, co-founder and R&D head, Proklean Tech, told businessline. Direct Indian alternatives are not always available due to the niche nature of the chemicals, he added.

A professor and researcher with a central university who wished not to be named said that almost 95 per cent of research labs use imported lab chemicals, and most of this experimentation work needs to be reproduced globally. “In some cases, if we replace them with other alternatives, the output will be different; this will affect experimental research significantly, he added.

However, pharma veterans say this should be seen as a quality-oriented move rather than to raise government revenue.

VAV Life Sciences Managing Director Arun Kedia told businessline that it has long been an industry concern, and at a time when the focus is on quality medicines, it is important for the imported reference material to be of high quality. “And while there are companies that bring in quality chemicals, there are also those that import and repackage lab chemicals, and if that is of low quality, it affects the product being made here,” explains Kedia.

Krishan Arora, partner, Grant Thornton Bharat says the move could have far-reaching consequences. “Pharmaceutical companies and research labs might face soaring costs for critical imported chemicals, potentially driving up research expenses and end product prices,” he added.

Meanwhile, academicians also took to Twitter (X) on Tuesday to note that this was already impacting them. “Prices of chemicals in laboratory we use shot up two to three times. Some suppliers have already adapted this new tax rate,” Abhishek Dey, a researcher with an autonomous research institute in Kolkata, wrote on Twitter.

NCLAT Chennai judicial member recuses himself from hearing Byju’s plea

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Justice Sharad Kumar Sharma of the National Company Law Appellate Tribunal (NCLAT) Chennai bench on Monday recused himself after hearing a plea filed by Byju Raveendran seeking an interim stay on the insolvency proceedings against Think and Learn, the parent company of the edtech firm Byju’s.

Justice Sharma recused himself as he had been counsel for the Board of Control for Cricket in India (BCCI). The matter will be out before the Chairperson to form another bench to hear the matter, said sources.

The counsels for the petitioner – Byju Raveendran – will write to the NCLAT Registry seeking listing of the matter before another bench.

On July 16, the National Company Law Tribunal in Bengaluru admitted an insolvency plea filed by BCCI against Think and Learn. The BCCI had filed the insolvency plea over unpaid dues related to sponsorship rights worth ₹158 crore. The admission triggered the corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) for Think and Learn.

The NCLT then appointed a resolution professional to manage all affairs of the company in the interim.

On July 23, Raveendran moved the NCLAT with the present petition seeking an urgent hearing.

On July 26, the Karnataka High Court deferred Raveendran’s plea to suspend the order that admitted Think and Learn Private Limited into insolvency to July 30. Raveendran has filed two petitions in the Karnataka High Court. One challenges the validity of the order, the second seeks suspension of the order till the NCLAT hears the appeal.

University of Hyderabad ranked among top 12% universities in Asia

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The University of Hyderabad (UoH), an Institution of Eminence is ranked among the top 12 per cent universities in Asia for international students by the Study Abroad Aide (SAA) World Rankings.

The University of Hyderabad (UoH), an Institution of Eminence is ranked among the top 12% universities in Asia for international students.

The UoH is among the ‘best ranked’ universities inIndia in the World Best Value University Rankings 2024 for International students.

The University Database Lead at Study Abroad Aide is reportedly the world’s most comprehensive database of universities, encompassing over 8,000 institutions including 3,349 institutions in the continent of Asia.

  • Also read: ISLE conference begins at UoH, spotlight on post-Covid fiscal policy and labour economics

After evaluating 3,349 higher educational institutions in 20 Asian countries, Study Abroad Aide has placed the University of Hyderabad in the top 12 per cent of universities in Asia. 

“Affordability and quality of education have been the positive outcomes for the university. We are happy at being ranked among the top 12 per cent in Asia and we will make efforts to do our best to be the first choice for international students in India,’‘ said B J Rao, Vice Chancellor, UoH, in a release. 

  • Also read: School of Economics, UoH to host ISLE meet from March 29 to 31

The Study Abroad Aide (SAA) World Rankings for Best Value Universities for International Students features universities across 69 countries. As the world’s leading database of universities and colleges, Study Abroad Aide ranked all universities around the globe based on two metrics: affordability and academic reputation, the UoH release added. 

IIT Madras Zanzibar introduces new M Tech Program in Ocean Structures

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IIT Madras Zanzibar has introduced an M Tech Program in Ocean Structures for the Academic Year 2024-25.

The new two-year Master of Technology Program is open to candidates of all nationalities and comes with two streams: Offshore and Ship structures and Port Harbour & Coastal structures.

The stream selection will be based on CGPA obtained by students at the end of first semester.

  • Also read: IIT Madras partners with SilTerra Malaysia for silicon photonic processor chips

Those having a four-year UG degree in Civil Engineering with a minimum of 60 per cent marks are eligible to apply. Applications are currently open for this course.

The Master of Technology in Ocean Structures will have a curriculum tailor-made to the industry needs in the Oil & Gas and Maritime sector. It will cover the basics of marine and offshore hydrodynamics, structural design for oil and gas exploration offshore platforms, ports, harbours including port structures and breakwater. The course would equip students with core and elective courses to prepare them for careers in the oil and gas and maritime sectors.

  • Also read: IIT Madras places over 80% of BTech/Dual-Degree students and over 75% of Master’s students

While first, second and fourth Semesters will be at IITM Zanzibar Campus, the third Semester will be at IIT Madras — Chennai Campus in India, according to a release.

Badruka School of Management organises business case competition to inspire entrepreneurship among students

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Badruka School of Management (BSM), an institute of Badruka Educational Society, organised the third and final round of in-person presentations for BSM IGNITE, a business case competition, in Hyderabad. 

The competition, BSM IGNITE, was initiated for young and aspiring business leaders as a platform to present their entrepreneurial ventures and receive feedback from industry experts, mentors, and academics. 

  • Also read: IIT Madras Zanzibar introduces new M Tech Program in Ocean Structures

Before the final round, the participants underwent two initial rounds – an entrepreneurship-themed quiz and the submission of an executive pitch video of their idea. The seven shortlisted teams were invited to the finale from across the length and breadth of the country.

“BSM IGNITE is more than just a competition; it’s a celebration of creativity, critical thinking, and the drive to make a difference in the business world. BSM is committed to celebrating innovation and entrepreneurship, which are among the core values which lead the institute,” Prabhu Aggarwal, Director, BSM said in a release. 

Each team had approximately 20 minutes to present a variety of business concepts, ranging from tech-driven solutions to social enterprises. They detailed their business plans, market analyses, and growth strategies, competing for the opportunity to win the competition.

Teams, Picapool and Bagboutique, won the competition and were awarded seed funding of ₹1 lakh each and mentorship to help turn their innovative ideas into successful businesses. Picapool offers a platform where people who are looking for singular products but aren’t able to avail of maximum discounts or offers can connect. Bagboutique offers to recycle textile waste and converting it into ethnic wear, jewellery among others. 

Nitte to offer MBA in ‘Innovation, Entrepreneurship, and Venture Development’

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Nitte (Deemed to be University) has announced the launch of an MBA programme in ‘Innovation, Entrepreneurship, and Venture Development’ (IEV) for the academic year 2024-25.

This programme is designed to train and nurture future first-time entrepreneurs and family business owners. It will be offered jointly by Nitte Atal Incubation Centre and Justice KS Hegde Institute of Management at Nitte in Udupi district.

The MBA programme will be embedded within the Atal Incubation Centre and will provide experiential learning in establishing and nurturing start-ups.

  • Also read: Why can’t B-schools forecast MBA demand better?

The two-year programme will offer two tracks — ‘Startup Establishment Track’ and ‘Family Business Management Track’.

A media statement said the curriculum emphasises experiential learning, internships, and specialised programmes such as Entrepreneurship Development and Management Development, ensuring that candidates gain the tools, perspectives, and experiences crucial for success in entrepreneurship and family business leadership.

Candidates should hold a Bachelor’s degree with at least 50 per cent marks from a recognised university and must have a valid score in specified entrance exams or the Nitte NUCAT conducted by Nitte (Deemed to be University).

ISB’s report shows role of legacy in success of family businesses

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There is a strong correlation between a family business’s legacy, and its long-term success, according to a report released by the Thomas Schmidheiny Centre for Family Enterprise at the Indian School of Business (ISB). It also revealed businesses with strong legacies, demonstrate superior performance, and a firm dedication to environmental, social, and governance (ESG) principles.

  • Also read:ISB to train grassroots entrepreneurs with no degrees

According to the report,  ‘Unlocking Legacy: The Path to Superior Growth in Family Businesses’ , many families in business, are successfully addressing the ‘legacy paradox’, managing the delicate balance between serving as a source of identity and inspiration, while avoiding becoming too entrenched in tradition, which can hinder adaptability and progress.

“This report, underscores the importance of legacy as a strategic asset that provides a competitive advantage for family businesses. By understanding their legacy type, and actively shaping it, family businesses can unlock significant growth potential, ensure long-term sustainability, and contribute positively to society,’‘  said, Nupur Pavan Bang, Academic Director, Thomas Schmidheiny Centre.

It reveals that Indian family businesses, score 78 per cent on legacy importance, matching the global average while highlighting the ‘deep-rooted’ value of Indian family businesses in maintaining their cultural identity.

When it comes to transgenerational entrepreneurship, Indian businesses score 76 per cent slightly below the European and Asia-Pacific averages of 77 per cent, indicating a need for increased focus on fostering entrepreneurial initiatives across generations.

On environmental sustainability, Indian family businesses, align with the global average of 78 per cent suggesting a solid foundation. However, further investigation also reveals room for improvement, especially in environmental practices, in which European firms are leading.

The Thomas Schmidheiny Centre for Family Enterprise at the Indian School of Business (ISB), is the long-standing member affiliate of the STEP Project Global Consortium. The report is a collaboration between KPMG Private Enterprise, and the STEP Project Global Consortium.  It brings insights from 2,683 family business leaders across 80 countries and territories, including India. 

 The key findings from the Global report, identified legacy as a `Driver of Success’ as 45 per cent of family businesses with strong legacies report high business performance compared to their competitors.

  • Also read:Revolution in voluntary closure of firms 

About 53 per cent of surveyed family businesses with strong legacies, demonstrate high sustainability performance across community, environmental, employee, and supplier aspects, the report said. 

Educate Girls founder Safeena Husain receives honorary doctorate from LSE

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Safeena Husain, the Founder of Educate Girls, has been awarded an Honorary Doctorate by the London School of Economics and Political Science (LSE), for her outstanding contributions to girls’ education in India. This prestigious recognition highlights Safeena’s relentless efforts to enhance access to education for girls in India’s underserved villages. Safeena and Educate Girls, were honoured with the “Changemaker: Social Transformation Award” by businessline in 2023.

  • Also read:Global recognition to Gagandeep Kang for research on enteric diseases in children

Founded in 2007, Educate Girls has mobilised over 18 lakh girls for school enrolment, and provided remedial learning support to over 22 lakh students. This remarkable impact, has been achieved through the dedication of nearly 20,000 community-based gender champions, working in India’s most marginalised communities.

Safeena joins a distinguished group of recipients of LSE doctorate, including renowned figures like Prof. Muhammad Yunus, Prof. Tim Berners-Lee, and Prof. Klaus Schwab. The list also includes esteemed Indian personalities such as Raghuram Rajan and Jagdish Bhagwati.

Safeena who is an LSE alum received this honour on May 29, 2024, in London. LSE President, and Vice Chancellor, Professor Larry Kramer, who presented the award to Safeena, shared that “Safeena Husain is a champion for the pressing cause of girls’ education, and a pioneering social entrepreneur – in the language of LSE’s 100x Accelerator, she has built a “social unicorn,” or an enterprise that, through its combination of technical innovation, and cultural intelligence, is making a significant positive impact on society on a massive scale. LSE could not be prouder of her, both as an alum and as a humanitarian, fulfilling the promise of our School’s mission.”

SC declines pleas to cancel NEET-UG 2024

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The Supreme Court on Tuesday refused to cancel the undergraduate National Eligibility-cum-Entrance Test (NEET-UG) 2024 held on May 5. The Supreme Court stated that there is no material on record “at the present stage” to prove that a systemic leak of question papers has destroyed the sanctity of the exams held annually for medical admissions across the country.

“At the present stage, there is an absence of material to show that the result of the exam stands vitiated… Data produced city-wise, centre-wise and comparison of results in 2022, 2023 and 2024 do not show a systemic leak of question paper which indicates a destruction of the sanctity of the exam,” Chief Justice of India DY Chandrachud, heading a three-judge Bench comprising Justices JB Pardiwala and Manoj Misra, reasoned.

The judgment seemed to agree with the arguments of the government and the Central Bureau of Investigation (CBI), both represented by Solicitor General Tushar Mehta, that the leaks “so far” looked “localised” to Hazaribagh and Patna in Bihar. The ongoing CBI probe has led to several arrests.

Seeking re-test

However, the lead counsel for the petitioners seeking a re-test, senior advocate Narendar Hooda, countered that the main accused of the gang behind the paper leak was yet to be arrested. Mobile phones used to relay the leaked question papers had not been recovered. He said the government’s confidence that the leak was limited to Patna and Hazaribagh was unfounded. The sanctity of the exam remains questionable unless the Court is convinced that all the tainted persons have been identified.

“The situation is still evolving… NEET-UG 2024 is a patient who has suffered a multiple organ failure,” Mr. Hooda argued. He urged the Court to hold true to its principle that the sanctity of an exam was lost even if one student had benefitted from an illegality. The Chief Justice responded that an entire exam cannot be cancelled, putting the future of over 23 lakh students who appeared for NEET-UG across 571 cities in peril, on the mere hypothesis of the petitioners that the leak was not confined to Hazaribagh and Patna. “Today, we do not have anything before us to show that the leak spread to other parts of the country,” Chief Justice addressed Mr. Hooda.

The Bench acknowledged the government’s viewpoint that cancellation of the exam would have serious consequences on the 23 lakh students, including disruption of the admission schedule of the medical courses, cascading effects on the course of medical education, prejudicial impact on the availability of qualified medical professionals in future besides being a source of serious disadvantage to marginalised students who would have to bear the expenses and logistics of a re-test.

However, the Court made it clear that students identified in future as beneficiaries of the paper leak in the ongoing CBI investigation should not profit from the illegality and be barred from admission.

Change in scores

With the court declining the re-test, the counselling process, which was set to begin on July 24 as informed by the government in court, may commence. However, the rank tally may undergo a change with the apex court endorsing a report from the Indian Institute of Technology (Delhi) that an “ambiguous” Physics question had only one correct answer and not two “possible answers”. The IIT(Delhi) panel had concluded that the two answers mutually excluded each other.

Over 4.20 lakh candidates who opted for the wrong one of the two “possible answers” may now lose the grace marks awarded to them. The previous hearing in court on Monday on the issue revealed that 44 students had achieved the perfect score of 720/720 solely owing to this grace mark. In its order, the court did not follow up on its oral suggestion, made during the hearing, to forego the negative mark for the wrong answer to the question. A negative mark would mean that students who chose the wrong option for that “tricky” Physics question stand to lose a total of five marks.

Further, the court did not intervene on a re-test held for 1,563 candidates who were given extra marks for the time they had lost after mistakenly being given the wrong question paper at their exam centres.

During the hearing, Mr. Mehta informed that only 813 out of 1563 had appeared for the re-test on June 23. “The rest would have decided to not appear for the re-test in June as the court had given them a choice to either attempt the re-test or retain their original results minus the compensatory marks,” he explained.

Budget provides ₹1.48 lakh cr for education, employment, skill: FM

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The Union Budget for 2024-25 will provide ₹1.48 lakh crore for education, employment and skilling in the country.

Presenting the Budget in the Lok Sabha, Finance Minister Nirmala Sitharaman said it will focus on employment, skilling, MSMEs and the middle class.

She added that the government has extended the PM Garib Kalyan Anna Yojana for five years, which is benefiting 80 crore Indians.

As mentioned in the interim budget, there is a need to focus on poor, women, youth and farmers, the minister said.

She added that people have given a unique opportunity to the Modi government to take India on the path of strong development, and all-round prosperity.

Geojit announces scholarship scheme for professional courses

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Geojit Financial Services Ltd has announced education scholarships for deserving students from economically weaker sections of the society, to help them pursue career-oriented courses across diverse disciplines. As a part of the scholarship, Geojit will provide up to ₹25,000 per annum to selected students towards their tuition fees, examination fees, etc.

  • Also read:Bahwan CyberTek announces ₹25-lakh scholarship for Ethiraj College students

The annual family income must be below ₹3 lakh.

Geojit spokesperson said, “Financial constraint often prevents youth of the country from realising their career goals. Empowering youth by helping them gain higher education will lead to the betterment of not just their lives but the society as well. We hope the selected students have a bright future”.

The scholarships will be processed through Geojit’s CSR arm, Geojit Foundation. The last date for application will be August 31, 2024, a press release said.

We will continue to explore new acquisitions, says Veranda Learning’s Suresh Kalpathi

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Veranda Learning Solutions Ltd, the Chennai-based education technology company founded in 2018 by the Kalpathi AGS Group, has over the years grown mainly through acquisitions. For instance, in May 2023, it acquired seven companies valued at ₹400 crore. The total number of students trained by the Veranda Group for FY24 stood at 6,93,874. The company’s Executive Director and Chairman Suresh Kalpathi says there is scope for more acquisitions. In this interview, he talks about the sectors where acquisition is possible, and the financial roadmap for the current fiscal. Excerpts.

Looks like Veranda now has a broad spectrum in the education space?

We divide ourselves into possibly three parts. One is what we call academic formal education; test prep and training. On the academic side, we do manage K-12 schools. We manage an international school. We manage about 8 to 10 colleges which do B.Com, BBA, BSMS. On the test prep side, we do commerce coaching under the brand of JK Shah classes. We do State, Central government exams under the brand of Veranda Race. We do software education under the brand of Edureka and we work with many of the IITs, IIMs, Purdues of the World, Cambridges of the world to deliver certification diploma degree programmes jointly with them.

The acquisition of the 15-year-old coaching institution Race in 2020 is an interesting turnaround story, right?

It was one of the businesses that we acquired. It used to be called Chennai Race and they were largely into offline education. Fantastic results and a ten-year-old entity. But I think when Covid came they were not sort of ready for it. So a lot of the physical locations got shut down. So we set up studios in one of the facilities; set up ten studios, built them out at record speed and involved some people from our production business to speed things up and got them launched as an online program under the brand of Veranda Race. As Covid slowly started retreating, we went back, opened up a lot of the online centres and built them out. So a business that almost went down to doing ₹20-30 lakh a month at the peak of Covid, this year is expected to deliver as a whole about ₹150 crore. Our acquisition cost was very little, but we were at the right time and a great deal.

Any new sector in the education sector that interests you to acquire?

One of them is a pre-school because it feeds into a system we are already building. The other one is study abroad because a lot of students who we have today, the aspiration to go abroad is pretty significant. So over the last 40 years, you can see the change. It’s symptomatic of how India has moved. Affordability, affluence has gone up. There are more people, not just NBFC even banks have come forward to provide loans for people who are going abroad to study. The awareness is significantly gone up.

How is this fiscal going to be for you ?

We see ourselves at a minimum going towards about ₹550 crore of topline. There are a few things that we are working on. If some of them should turn out well, it could add to ₹600 crore.

BYJU’S Financial Update: May 2024 Salaries Processed Using Business Collections

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Edtech firm BYJU’S has processed employees’ May salaries from the month’s business collections, sources close to the company said on Monday.

Last year, the founders of the edtech firm had to pledge their house to raise debt to pay employees’ salaries.

“The salaries for the month of May have been processed for BYJU’S employees and will be credited today. This milestone is particularly significant for BYJU’S as the salaries have been paid from the company’s collections for the month,” a source said.

  • Read: Lessons from Byju’s saga 

The company also raised various debts in the past month to cover the salary expenses as it has not been able to use the USD 200 million raised through rights in February.

“Over recent months, BYJU’S has implemented a series of strategic initiatives aimed at optimising operations and strengthening its financial health. The ability to cover salary expenses from the monthly collections underscores the positive impact of these measures,” the source said.

A group of four investors — Prosus, General Atlantic, Sofina, and Peak XV — along with support from other shareholders, including Tiger and Owl Ventures, had approached the NCLT against the company management and the rights issue.

The hearing in the matter before NCLT Bengaluru is listed on June 6.

Mahindra University opens School of Design Innovation

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Mahindra University, which is promoted by the Mahindra group, has launched School of Design Innovation at its campus here.

The school has tied up with the Pininfarina Design Academy (Torino, Italy), and Shenoy Innovation Studio IDC IITB. It will allow students to be mentored by some of the best design brains from India and abroad.

  • Also read: Mahindra University opens media school

The first academic session will commence from August 15, 2024, with a Bachelors programme in Design.

“The curriculum will provide students with a combination of design fundamentals, including sketching, engineering labs, prototyping, and digital tools,” Yajulu Medury, Vice-Chancellor of Mahindra University, said.

The course will culminate with a Capstone Project that is aimed at solving real-world challenges in the industry.

Students with 10+2 are eligible to apply. The school will provide a 25 per cent Chancellor’s Scholarship, amounting to ₹1 lakh every year to the first batch.

Nudged out owing to current controversy: Congress on UPSC chairman resignation

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With UPSC chairman Manoj Soni resigning citing personal reasons, the Congress on Saturday said he was apparently “nudged out” given the current controversy in which the Commission is involved.

Congress president Mallikarjun Kharge alleged the BJP-RSS is systematically indulging in an institutional takeover of India’s constitutional bodies, thereby damaging their reputation, integrity and autonomy.

“The multiple scandals that have plagued the UPSC is a cause of national concern. PM Modi and his Minister of Personnel, Public Grievances and Pensions must come clean. Numerous cases of unqualified individuals faking caste and medical certificates seemed to have duped a ‘foolproof’ system,” Kharge said in a post on X.

This is a direct affront to the genuine aspirations of lakhs of aspirants, including SC, ST, OBC, EWS candidates who work hard, burning midnight oil in preparing for the Civil Services Examinations, he said.

“It is disconcerting how the UPSC Chairperson has resigned prematurely, five years before his term ends. Why was his resignation kept secret for a month? Is there any connection between the numerous scandals and the resignation?” Kharge said.

“This ‘blue-eyed-gem’ of Modi ji was brought in from Gujarat and promoted to being the Chairperson of UPSC ” he said.

Sardar Vallabhbhai Patel had referred to the civil servants as the ‘Steel frame of India’, but the Modi government’s desperate attempt to control every aspect of governance has punched holes in the same, Kharge alleged.

“This needs to be thoroughly investigated at the highest level so that such cases of fraudulent malpractices in UPSC admissions don’t happen in the future,” he said.

Congress general secretary in-charge communications Jairam Ramesh also slammed the government, saying the sanctity and autonomy of all constitutional bodies have been badly damaged since 2014 — the year Narendra Modi became the prime minister.

Soni has resigned citing personal reasons before the expiry of his tenure in May 2029, official sources said on Saturday.

His resignation is “not in any way connected to controversies and allegations surrounding the Union Public Service Commission (UPSC) after probationary IAS officer Puja Khedkar issue came to the fore,” they said.

Reacting to the development, Ramesh said, “The sanctity, character, autonomy, and professionalism of all constitutional bodies have been badly damaged since 2014. But at times even the self-anointed non-biological PM is forced to say enough in enough.”

He said, “Mr Modi brought in one of his favourite ‘academics’ from Gujarat as a UPSC member in 2017 and made him chairman in 2023 with a six year term. But this so-called distinguished gentleman has now resigned five years before the expiry of his term.

“Whatever the reasons that may be given, it appears clear that he had to be nudged out given the current controversy in which the UPSC is involved,” Ramesh added.

Many more such characters have populated the system, he said and wondered why the chairman of the NTA remains untouched so far.

“The UPSC chairman had tendered his resignation citing personal reasons over a fortnight back. It is yet to be accepted,” a source said.

Eminent educationist Soni, 59, took over as a member of the Commission on June 28, 2017. He took oath as the UPSC chairman on May 16, 2023 and his term was to end on May 15, 2029.

Sources said Soni was not keen on becoming the UPSC chairman and had requested to be relieved. However, his request was not accepted then.

They said Soni has now desired to devote more time to “socio-religious activities”.

The development assumes significance as the UPSC on Friday said it has lodged a criminal case against Khedkar for faking her identity to fraudulently avail attempts in the civil services examination beyond eligibility and taken steps to debar her from future selections.

Antier’s EduBlock Pro uses blockchain to prevent exam paper leaks

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In India, the persistent issue of exam paper leaks has long undermined fair competition and meritocracy, causing widespread concern. This rampant problem, affecting millions of students and eroding public trust, now has a promising new solution. Mohali-based blockchain firm Antier has unveiled EduBlock Pro, an innovative blockchain powered platform designed to safeguard the integrity of examinations through cutting-edge blockchain technology.

The country’s education system has faced significant challenges with 41 reported cases of exam leaks across 15 States in the past five years, affecting nearly 1.4 crore job applicants. These incidents have delayed appointments and severely damaged public confidence in the system.

  • Read: SC orders NTA to publish NEET-UG 2024 results by July 20 noon

EduBlock Pro, Antier’s blockchain-powered platform, addresses this critical issue. It was recently deployed in a government recruitment exam for the Punjab State AIDS Control Society (PSACS), according to Antier.

“Our duty is to implement systems that transition towards machine-driven processes, eliminating emotional and human factors,” said Vikram R. Singh, Founder and CEO of Antier.

“Through blockchain, we aim to establish a de facto protocol for e-governance systems that are impartial and contribute to societal welfare. Our vision is to make India the Web3 capital of the world, providing fair and transparent solutions like EduBlock Pro for critical sectors such as education,” he said.

Multi-layered security

EduBlock Pro employs a multi-layered approach to security, beginning with encrypted student registration and secure question uploads. The exam board uses a public and private key infrastructure to lock and validate questions. On the exam day, invigilators decrypt and unlock papers for secure distribution.

Beyond preventing leaks, EduBlock Pro aligns with UNESCO’s Sustainable Development Goal 9, promoting inclusive industrialisation and resilient infrastructure. By ensuring fair and transparent assessment processes, the platform contributes to equitable governance in the education sector.

The successful implementation of EduBlock Pro in the PSACS hiring drive marks a significant milestone. Hundreds of candidates participated in the examination, confirming the system’s integrity, accuracy, and efficiency.

With high-profile exam leaks, such as the recent NEET-UG paper leak in Bihar, making headlines, solutions like EduBlock Pro offer a ray of hope. Education system observers note that these solutions not only secure exams but also help restore faith in the education system, ensuring a level-playing field for all students.

Antier, with a team of over 700 professionals and a track record of delivering more than 1,000 projects, stands as India’s largest blockchain development company. It is paving the way for a future where technology safeguards the pillars of education and fair recruitment.

EduBlock Pro exemplifies how blockchain can address real-world problems, potentially transforming the landscape of educational assessments in India and beyond, they added. 

Telangana Government aims to strengthen Govt schools in next 3 years

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Telangana Chief Minister A Revanth Reddy instructed the Education Department to prepare plans to strengthen all government schools in a period of three years.

Reddy directed the officials to come up with constructive proposals to open semi-residential schools along with integrated residential schools and prepare proposals to provide education up to the third standard in Anganwadi centres on the lines of play schools. Recruitment could also be taken up to have one additional teacher in each Anganwadi centre, he added.

  • Also read: Telangana issues GO for ₹35,000 crore farm loan waiver scheme

The State Government is also planning to establish semi-residential schools to offer education up to the fourth standard. Transport facilities should also be provided for students who study in semi-residential schools, the Chief Minister suggested. Officials have been asked to seek opinions of educational experts and prepare plans to take up the pilot project in one or two mandals.

Reddy also advised the Education Department to utilise CSR funds apart from government allocations to improve better facilities to the students in government schools.

Edtech giant Byju’s challenges insolvency proceedings in NCLAT

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Edtech company Byju’s has challenged the National Company Law Tribunal (NCLT) order that initiated insolvency proceedings against the startup in the National Company Law Appellate Tribunal (NLCAT). The appellate tribunal is expected to hear the appeal on July 22 though the company sought an urgent hearing.

businessline previously reported that Byju’s would try settling the matter out of court while challenging the NCLAT order.

  • Also read: Tribunal admits BCCI’s insolvency plea against Byju’s; edtech to seek out-of-court deal

“The company remains solvent with thousands of employees. I am prepared to commit to depositing the entire ₹158 crore in one installment within one month.” senior advocate Abhishek Manu Singhvi, representing Byju’s, told NCLAT.

Byjus was dragged to court following a plea raised by the Board of Control for Cricket in India (BCCI) with the NCLT, alleging non-payment of ₹158 crore sponsorship for the Indian cricket team jerseys.

  • Also read: NCLT tells Byju’s to pay salary dues to employees or face audit

The NCLT order led to Byju Raveendran losing control of the company. The tribunal appointed bankruptcy officials to oversee the operations of the company. Additionally, Pankaj Srivastava was appointed as the interim resolution professional (IRP).

The NCLT also dismissed Byju’s request to refer the dispute to arbitration and issued a ruling prohibiting Byju’s from transferring assets during the insolvency proceedings.

SC orders NTA to publish NEET-UG 2024 results by July 20 noon

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The Supreme Court on Thursday directed the National Testing Agency to publish the undergraduate National Eligibility-cum-Entrance Test (NEET-UG) 2024 results of all 23.33 lakh candidates who appeared in the exam on a centre-wise basis in a bid to transparently check for anomalies in the marks pattern.

A three-judge Bench headed by Chief Justice of India DY Chandrachud ordered the National Testing Agency, which conducts the NEET annually, to mask the identities of the students while releasing the results from each separate centre.

The primary reason for releasing the results is to check if the perfect 720/720 scores were clustered in any particular exam centres, raising suspicions of foul play, including question paper leaks and cheating.

  • Also read: NEET-UG 2024 counselling to start in July

While the petitioners claim that an unprecedented 67 students, which include multiple candidates from the same exam centres, had achieved perfect scores in 2024, the National Testing Agency (NTA), which dismissed allegations of “mass malpractice” or paper leaks, maintained that only 17 toppers have actually scored 720/720 this year.

The publication of the complete results would help, by following the marks patterns in every NEET exam centre, to examine if the papers leaks had spread across the country like “wildfire” tainting the entire exam, requiring a re-test.

‘Personal property’

Solicitor General Tushar Mehta, for the Centre, objected to the publishing of the entire results, saying they were the “personal property” of the students. So far, the Centre and the National Testing Agency (NTA) have released the results of the top 100 NEET-UG scorers.

Senior advocate Narendar Hooda, leading the petitioners’ side, said there was no reason for either the Centre or the NTA to “shy away” from publishing the results centre wise as long as the students’ identities were not disclosed. Publication of the entire results would help the petitioners to scour centre or city wise to track down inordinate concentrations of perfect scorers, if there were any, Mr. Hooda argued.

Agreeing, the court initially gave NTA 24 hours, that is by 5 pm on July 19, to upload the results. However, it later relented to extend the deadline to July 20 at noon on a request by NTA counsel, senior advocate Naresh Kaushik.

  • Also read: Chaos and controversy in NEET-UG, UGC-NET shake up entrance test systems

The Bench, also comprising Justices JB Pardiwala and Manoj Misra, scheduled the next hearing on July 22. The court did not pass a positive order on an oral plea by petitioners, who include students, to suspend the counselling process. Mr. Mehta informed that the counselling process was scheduled to start from July 24.

Chief Justice Chandrachud said the Bench would hear the case first on July 22 and may, in all eventuality, wrap up the case by the afternoon.

The hearing saw Mr. Hooda argue that the data analytics test done by the Indian Institute of Technology (Madras) to detect malpractice was faulty. He said it had spread its study too thin by trying to analyse the data of all 23.33 lakh candidates who appeared in the NEET-UG rather than focus on the first 1.08 lakh whose medical admissions in government and private colleges were a sure shot. The petitioners also said IIT(Madras) was on the governing body of the NTA, which pointed to a conflict of interest.

The court responded to Mr. Hooda’s submission by asking the NTA to find out how many students who changed their cities/centres made it to the first 1.08 lakh and if there was any “skew” in favour of the students who changed their cities. The publication of the entire results, Mr. Hooda said, would aid the petitioners to also pitch in and cull out this piece of information.

Chief Justice Chandrachud said it was an admitted fact that paper leaks happened in Patna and Hazaribagh in Bihar. Both cases are being investigated by the CBI presently. But the court asked the CBI to produce on record the earlier investigation records of the Bihar Police and the State Economics Offences Unit on Monday.

The Chief Justice said he did not believe that somebody had leaked the question papers to “make a national charade of the NEET”.

“People do this to make money. Anybody wanting to make money would not be able to do so without a massive network,” Chief Justice Chandrachud said.

Mr. Hooda referred to the “shoddy” security which was in place in Hazaribagh. He said the NEET papers were taken to the exam centre by an e-rickshaw on May 5.

Hypothesis about leaks

The Chief Justice drew two separate hypotheses about the leaks. One, the paper was leaked before the banks took custody of them on May 3. The other, the leaks happened when the question papers were taken from the banks to the exam centres on May 5.

“The court’s worry is how much was the time period between the breach and the exam. The more the time, the wider the leak,” Chief Justice Chandrachud observed.

Mr. Mehta said the “breach” happened in Hazaribagh on May 5, the exam day, between 8 am and 9.20 am. Referring to CBI probe findings, he said the leak was local. Parents had paid the gang in post-dated cheques. Their children were called in and told to memorise the answers. They were instructed to keep their phones out. The Solicitor General ruled out any massive dissemination of the leaked paper.

“That would have led to the cancellation of the exam. So, the gang wanted the leak to remain small and local,” he said.

The Chief Justice however said the story was “far-fetched”. “Is it possible to have solvers do 180 answers in the paper and then distribute them to the students with only 45 minutes before the exam?” the CJI asked. Mr. Mehta said at least seven “solvers” were employed by the gang.

MAHE’s first V-C Valiathan no more

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Professor Marthanda Varma Sankaran Valiathan, a distinguished cardiac surgeon and first Vice-Chancellor of Manipal Academy of Higher Education (MAHE), passed away in Manipal on July 17 at 9.14 pm at the age of 90. He is survived by his wife, a son and a daughter.

At Manipal, he served as the first Vice-Chancellor of MAHE from 1993. His tenure at MAHE was marked by a commitment to academic excellence and innovation in research. Under his leadership, MAHE expanded its academic programmes and significantly increased its research output.

He was instrumental in fostering an environment that encouraged interdisciplinary collaboration and international partnerships.

A statement by MAHE said his vision and dedication were key in transforming MAHE into a world-class university, attracting students and faculty from around the globe and securing its place among the top educational institutions in India and worldwide.

Valiathan’s career included significant contributions to cardiac surgery and medical technology. He was an alumnus of the Medical College, Trivandrum and held fellowships from the Royal College of Surgeons of Edinburgh, England, and Canada.

He was instrumental in establishing the Sree Chitra Tirunal Institute for Medical Sciences and Technology in Thiruvananthapuram and served as its Professor and Director of Cardiac Surgery for 20 years. His innovative work in developing medical devices such as the disposable blood bag and the tilting disc heart valve laid the foundation for India’s medical devices industry.

Valiathan received numerous accolades throughout his career, including Padma Vibhushan in 2005 and Padma Shri in 2002. He was the recipient of Dr BC Roy National Award, the Hunterian Professorship of the Royal College of Surgeons of England, the Chevalier of the Order of Palmes Académiques from the French Government, the Dr Samuel P Asper Award for International Medical Education from Johns Hopkins University, and the Lifetime Achievement Award from the Indian Medical Association.

MAHE extended its condolences to his family, friends, and colleagues. “His legacy of excellence and dedication to medical science and education will continue to inspire us all,” said a statement by MAHE.

UPL University partners ISRO for R&D in chemical sciences

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UPL University of Sustainable Technology, an initiative by the UPL Group and the Space Application Centre (SAC) of the Indian Space Research Organisation (ISRO), have signed a Memorandum of Understanding (MoU) to advance research and innovation in chemical sciences.

This collaboration is part of UPL’s broader strategy to enhance academic excellence and foster global recognition, the company said in a statement.

This partnership is set to revolutionize research in chemical applications within materials science and related fields. It would provide access to cutting-edge research facilities, specialized expertise, and invaluable data resources to the faculty and students, and take the research to new heights.

  • Also read: NASA will soon train Indian astronauts for joint mission to International Space Station: US Envoy Eric Garcetti

Nilesh Desai, Director SAC of ISRO, said, “Our collaboration with UPL University underscores the importance of academic partnerships in advancing scientific research and technology. We look forward to the ground-breaking discoveries that will emerge from this partnership.”

Vikram Shroff, Vice-Chairman and Co-CEO, UPL Group, said, “UPL University’s partnership with ISRO is a significant step toward fostering a culture of research and development that will benefit both the academic community and the industry at large.”

“With over 170 active MoUs and partnerships, which include industry leaders like Lanxess India Private Limited, Lupin Ltd., Siemens Ltd., and Colourtex Ind. Pvt. Ltd., we are addressing real-world challenges.”

Ashok Panjwani, President of UPL University, “We are excited to collaborate with ISRO, which aligns perfectly with our mission to drive innovation and research excellence. This partnership will provide our students and faculty with unique opportunities to engage in cutting-edge research.”

“With this, UPL University remains dedicated to forging new partnerships and collaborations that will further strengthen our position as a leader in academic excellence, research innovation, and societal impact.”

In addition to ISRO, UPL University has established MoUs with national research organizations such as the Council of Scientific and Industrial Research (CSIR), including the National Environmental Engineering Research Institute (NEERI) and the Institute of Chemical Technology (ICT), Mumbai.

These collaborations enhance the research capabilities in environmental engineering, chemical sciences, sustainable technologies, and more, catering to the needs of nearby industries, the company said.

  • Also read: UPL’s Q4 net dips 95% to ₹40 crore on decline in revenues

ICAI embraces AI technology, launches GPT for CAs

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As it celebrates the Diamond Jubilee of its inception, the Institute of Chartered Accounts of India has decided to embrace Artificial Intelligence and Generative AI to tap the benefits of the technology that gives human-like answers. After testing the Beta version, the institute launched the CAGPT, a fenced GPT (which is not connected to external resources) developed in a tie-up with OpenAI, the makers of ChatGPT. The institute also launched another GPT, exclusively for the students pursuing CA courses.

“We have trained the GPT with all the data that the institute developed over the last 75 years. The GPT could churn out answers for any simple or complex questions that students might have,” Dayaniwas Sharma, a member of ICAI’s Central Council, and Chairman of the AI in ICAI, told businessline.

Earlier addressing a gathering of CAs at the AI Innovation Summit here on Tuesday, he demonstrated how they could use the CA GPT. “Over 30,000 of our members have used the GPT so far. We are encouraging others to tap the potential of Generative AI,” he said.

To equip the members with skills to use the GPT and other AI tools, the institute has launched a three-day certificate course, with a course length of 18 hours. “This is a preliminary course. We will introduce two other advanced courses,” he said.

The institute, however, will disable access to the GPT at the time of examinations. Stating that it was very particular about integrating technology with practice, the syllabus of core subjects in the outgoing batch was laced with technology.

Umesh Sharma, Vice-Chairman of AI in ICAI, said that the institute would publish different use cases to sensitise the members to tap the Generative AI in their practice. Asking the members to encourage their colleagues to use GenAI, he announced that the institute would kick start Season 2 of a hackathon, inviting innovators to solve some of the content-generation challenges faced by the members.

US conference 

ICAI President Ranjeet Kumar Agarwal said that the institute would organise a similar conference in San Francisco in October. “AI is not going replace you (CAs). But the one with AI skills will,” he cautioned the members, asking them to learn how to use new tools.

He said the institute was in talks with the MeitY to develop an AI Audit tool that helps the members keep tabs on the books of corporates and flag frauds, if any.

The two-day conference is focussing on a range of topics around AI and GenAI including the challenges for adoption; the future of technology in accounting; upskilling CAs in the AI era; issues related to cybersecurity; the art of using effective prompts; and AI in forensic audit.

Ahmedabad University announces Bagchi School of Public Health with ₹55 crore grant

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The Bagchi School of Public Health, named after philanthropists Susmita and Subroto Bagchi, was announced at Ahmedabad University on Tuesday.

Established in 2023, the School is now named in honour of the philanthropists and aims to revolutionise public health education and research in India, as stated in an official release here. The Bagchi couple’s transformative grant of Rs 55 crores will fuel the development of world-class physical, digital, and intellectual infrastructure. This investment empowers the School to become a global leader in public health education and research, the release added.

The Bagchi School will break new ground by prioritising rigorous structured Master’s and PhD programmes in specific core public health disciplines. The School’s flagship programme, a PhD in Epidemiology, equips students with the necessary advanced analytical as well as soft skills to tackle complex public health challenges, both ongoing and unforeseen. Initial focus areas include Environmental Health, Analytical Methods for Health, including Biostatistics and Data Science. 

The Bagchi School also fosters collaboration through the Sahyog Centre for Promoting Health, established in partnership with the Self Employed Women's Association (SEWA). This Centre empowers individuals, communities, and organisations to make healthy, eco-friendly choices. The Vice-Chancellor of Ahmedabad University, Professor Pankaj Chandra, said, “It is a matter of pride for us that Ms Susmita Bagchi and Mr Subroto Bagchi chose our institution to implement their vision of creating knowledge and helping the underserved. Their support will help build global leaders in public health out of India. As a University promoting interdisciplinary research and education, this is a unique setting for public health faculty, practitioners, and students to significantly define our nation’s health agenda.”

Subroto Bagchi, co-founder of Mindtree, author and public servant, commented, “COVID opened our eyes to the huge gap in the sphere of public health education and research in India. We reached out to Ahmedabad University, as we had had several previous interactions with them that deeply impressed us with regard to their vision, ability to foster and execute innovations, and their holistic approach to education and research.”

‘Ivy Leagues seek well-rounded students who excel in many domains’

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In recent years, the trend of Indian youth migrating abroad for higher education has witnessed a significant surge. This phenomenon has been on a steep upward trajectory, with over 7.65 lakh students moving abroad for studies in 2022 alone.

Even before the Covid-19 pandemic, the numbers were already high, with student migration surpassing 500,000 in 2018 and reaching 586,000 in 2019, as per the Bureau of Immigration (BoI) statistics. 

Jamie Beaton, CEO of Crimson Education, explains some of the emerging trends among Indian students migrating for higher studies. Beaton has studied at several prestigious institutions, including Harvard and Stanford Universities, the University of Oxford, Yale Law School, and Princeton University.

His academic focus has encompassed finance, applied mathematics, and business administration, among other fields. His company, Crimson Education, is a university admissions support company with a vision to equalise university admissions across the globe. Excerpts from an interview: 

  • Also read: NEET-PG exam postponed due to integrity concerns; NTA’s DG replaced

What are the current trends among young Indian students applying to Ivy League universities in the USA and the UK?

In the US, top universities such as Harvard have significantly increased their financial aid offerings. This has encouraged students to consider studying in Ivy league colleges or universities. Concurrently, Indian students are increasingly pursuing a broader array of Advanced Placement subjects.  

Moreover, a growing number of Indian students are engaging in rigorous research projects during high school; these initiatives will help them to seek admissions in Ivy League universities. It will help students develop advanced research skills and familiarity with cutting-edge academic work. 

Consequently, top universities are adjusting their admissions strategies, with institutions such as Harvard, Yale, and Princeton admitting fewer students early and waiting to assess the complete applicant pool.

This contrasts with other top 50 universities that are increasingly utilising early decision rounds to admit more students. Following the disruption caused by Covid-19, the SAT has regained prominence in the application process, with high scores continuing to play a crucial role, particularly for Ivy League admissions where average scores for applicants are notably high. 

Could you outline some of the prevailing trends in course selection and among students from India applying to universities in the USA?

In the US, universities like Duke, Vanderbilt, and Stanford are now as competitive as Ivy League institutions, reflecting a trend towards broader university choices.

Similarly, schools such as Johns Hopkins and the University of Chicago are rivalling Ivy League acceptance rates, enhancing their appeal among Indian applicants. There’s also a growing interest in liberal arts colleges.  

In academic disciplines, there’s been a surge in applications for artificial intelligence majors. Programmes on computer science, finance, engineering do have a huge demand. Students from Tier 2 and Tier 3 cities in India, like Coimbatore and Tiruchi, are increasingly gaining admission to top US universities, including Ivy Leagues. 

What is the trend among students applying to study in the top universities in the UK and Australia? 

In the UK, the Russell Group universities such as Oxford, Cambridge, LSE, Imperial, UCL, and King’s College London remain popular among Indian students. Preferred programmes include medical school, law school, and PPE (Philosophy, Politics, and Economics), with UK universities offering specialised degrees appealing to students.

Meanwhile, in Australia, Indian students are primarily applying to leading medical schools like University of Monash, UNSW, and the University of Sydney. 

What are the key criteria for Ivy League admissions that Indian students should focus on? 

Academics hold substantial weight, constituting 40 per cent of the evaluation process. This encompasses performance in rigorous external exams such as school board exams, IB, A-levels, AP, and SAT scores. High achievement in these standardised tests are crucial for admissions.  

Extracurricular activities and leadership are equally vital, accounting for 30 per cent of the admissions criteria. Ivy League institutions seek well-rounded individuals who have demonstrated commitment and excellence across various extracurricular domains throughout grades 9 to 12. 

Additionally, entrepreneurial leadership, such as initiating personal projects or ventures like a podcast with extensive interviews, showcases innovative thinking and initiative beyond academic excellence. 

The remaining 30 per cent of the evaluation process hinges on essays and interviews, where applicants have the opportunity to distinguish themselves on a personal level. Some of the Ivy League institutions also conduct interviews with the alumni of the institution to check if they are the right candidate for the course and universities.  

  • Also read: Rahul Gandhi accuses PM Modi of ‘psychologically’ collapsing as public outcry rises over exam irregularities

‘Rajaram – DCM Shriram Scholarship’ launched at DialogueNEXT conference

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The International Maize and Wheat Improvement Center (CIMMYT) unveiled the bust of Dr Sanjaya Rajaram — one of world’s most influential wheat breeders and World Food Prize Laureate — at the DialogueNEXT conference in Mexico.

This conference, which was held on July 10-11, featured the launch of the ‘Rajaram-DCM Shriram Scholarship’ aimed at fostering the next generation of agricultural scientists while honouring Rajaram’s legacy.

A media statement said that ‘Rajaram-DCM Shriram Scholarship’ is a result of a long association between CIMMYT and DCM Shriram Ltd reflecting their shared vision to help farmers achieve higher productivity in wheat. The scholarship embodies their joint commitment to nurture next generation of researchers and foster innovation in agricultural sciences. The unveiling of Rajaram’s bust is a tribute to his enduring influence in agriculture and lifelong dedication to improving global food systems.

Help to upgrade skills

Quoting Sanjay Chhabra, Executive Director and Business Head, the statement said: “All of us, at DCM Shriram, are proud of our fruitful association with CIMMYT and with Dr Rajaram. The Wheat Seed Development Programme at DCM Shriram is driven by Dr Rajaram’s passion and it continues to deliver superior wheat varieties to the Indian farmers.”

Anand Shriram, Senior Vice President, said: “We, at DCM Shriram, are extremely delighted to have contributed to building this memorial bust of Dr Rajaram and in setting up the ‘Rajaram – DCM Shriram Scholarship’ to help young scientists upgrade their skills. It will not only offer financial support to outstanding students focused on research and innovation in crop improvement but also inspire aspiring scientists through the profound legacy of Dr Rajaram.”

Byju’s lenders petition to put subsidiaries in bankruptcy in the US

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Troubled edtech major Byju’s term-loan lenders have petitioned a bankruptcy court in Delaware against the companies’ subsidiaries — Epic, Tynker, and Osmo — seeking to initiate Chapter 11 bankruptcy proceedings.

Glas Trust, a US-based non-banking loan agency, was appointed by over 100 lenders as an administrative agent for the $1.2-billion term loan.

“Since Byju’s began to default on its term-loan obligations shortly after we provided Byju’s Alpha (the US subsidiary of Byju’s) with financing in 2021, we have made every effort possible to work productively and collaboratively to help Byju’s cure its multiple defaults,” the lenders said.

“However, it is clear that Byju’s management has no intention or ability to honour its obligations. Indeed, Byju’s founders, who also serve as the three directors of the overall enterprise — Byju Raveendran, Riju Ravindran and Divya Gokulnath — unlawfully diverted $533 million in loan proceeds, the whereabouts of which are still unknown.”

Byju’s struggles

Epic and higher-education platform Great Learning are up for sale to pay its term loan B lenders. Byju’s had acquired both companies during the starting funding rush of 2021 to build its $22-billion empire.

The company had raised $1.2 billion through a term loan B from overseas investors in November 2021. However in June 2023, Byju’s skipped an interest payment and took its lenders to court to prevent an acceleration of the repayment.

“As a result of Byju’s failed leadership and mismanagement, significant harm has been done to its businesses and the value of its assets. Shareholders and lenders of the company have seen the value of their investments deteriorate, employees and vendors have not been paid in a timely manner, and customers have suffered,” the lenders said in the statement.

They added that they were taking action to preserve the value of these assets. “We remain committed to their success and are ready to infuse the capital necessary to reorganise the businesses. Under the supervision of the court, the lenders hope that Epic, Neuron Fuel and Tangible Play will benefit from much-needed oversight, while a plan is developed to maximise the value of these assets for the benefit of all stakeholders.”

The edtech major is also embroiled in legal battles with other investors, including Prosus Ventures and Peak XV, over governance, financial mismanagement. Investors are also pushing for a change of leadership and a new board of directors.

Byju’s, which was once valued at more than $22 billion, recently raised $200 million from a recent rights issue which they haven’t been able to access following a court order, even as dues to employees, lenders and vendors have increased.

Rakesh Mohan Joshi takes over as vice-chancellor of IIFT

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International trade and management expert Rakesh Mohan Joshi on Wednesday took charge as vice-chancellor of the Indian Institute of Foreign Trade (IIFT), a business school under the ministry of commerce. Joshi a former Dean of the institute was on deputation to Bengaluru-based Indian Institute of Plantation Management as Director.

“Prof. Rakesh Mohan Joshi takes over as vice-chancellor of IIFT,” the institute said in a statement.

Prof Joshi has received his education and training from Harvard Business School, Boston; IIFT, Rajasthan University and National Dairy Research Institute, Karnal. He has been associated with several multilateral organisations such as the World Bank, the Asian Development Bank, UNCTAD, International Dairy Federation and Asian Productivity Organisation among others.

Joshi, who has authored several books, said that he is committed to transforming IIFT into a world-class business school focused on international trade and management through cutting-edge research, training and education contributing to India’s journey to become a global powerhouse in world trade.

  • Also read: BYJU’S processes employees’ May salaries from business collections, signals financial progress

IIT Madras unveils plans to transform India into a global chess powerhouse

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In an ambitious stride to boost India’s chess prowess, the IIT Madras Center of Excellence in Sports Science and Analytics (CESSA) has unveiled a comprehensive plan aimed at positioning India as a global chess powerhouse. At the heart of this initiative lies a suite of technology-driven tools designed to enhance every facet of the game.

Foremost among these initiatives are fan engagement, offering solutions for federations to detect cheating, and support chess training programmes to promote the sport at the grassroots level.

  • Also read: ICAI sets ball rolling on ‘aggregation of firms’, takes two key decisions

CESSA made these announcements at the ‘Sports Tech Start-Up’ Conclave in New Delhi on Saturday. The event was sponsored by Dream Sports, Vedanta and SFA Play.

Sandip Pradhan, Director-General of the Sports Authority of India (SAI), stated that SAI is collaborating with IIT Madras and aims to strengthen this partnership. “We will be interested in working with start-ups that have products that can be applied in sports bodies. The Government will support not only research but also products,” he said at the conclave.

Prof V Kamakoti, Director of IIT Madras, highlighted the strategic and pattern-matching nature of chess. He noted that high-performance computing and artificial intelligence could play a crucial role in aiding chess players by simulating various scenarios and optimal game plans during training. “IIT Madras is keen to develop such platforms with the objective of making Bharat a global chess powerhouse,” he added.

CESSA plans to develop unique technology offerings to ensure fair play in chess by creating tools to aid in anti-cheating measures and enhance online chess engagement. CESSA will also work on initiatives to popularise chess at the grassroots level, involving local players to ensure financial benefits for everyone in the ecosystem.

“Today, IIT Madras launches innovative technology-driven initiatives in sports, also aiming to revolutionise sports education. Our commitment is to advance sports education, nurture talent across all levels of the sports ecosystem and use technology to further elevate India’s place in the chess world,” said Prof Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT Madras, and Head of CESSA, IIT Madras.

  • Also read: ICAI can proceed against entire CA firm for professional misconduct: Delhi High Court

Among the centre’s other initiatives are popularising the game by undertaking various technology initiatives, and involvement of local chess players as the above structure is built to ensure financial benefits for everyone in the ecosystem. IIT Madras CESSA,thus aims to create a compelling digital destination for chess content and training from India.

Harness information for progress of country, CSIR DG tells IIIT-H graduates

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IT-trained graduates must harness information and data for the progress of the nation, according to N Kalaiselvi, Director General, CSIR & Secretary, DSIR.

Addressing the graduating students of International Institute of Information Technology, Hyderabad (IIIT-H) at its 23rd convocation here on Saturday, she said, “In today’s world, everything is information and everything is data. The IT-trained experts must handle information and data for the nation’s progress.”

“I am impressed by the educational culture of IIIT Hyderabad. The country has a lot of expectations from you. It is fine if you go abroad, study and work.  You may go, study, learn, stay, work but come back and pay back to the nation,’‘ the CSIR DG said. 

PJ Narayanan, Director, IIITH said, “The graduating students of 2024 are joining the professional world formally today, out to chart their own paths in this increasingly competitive and complicated world. I am confident you possess highly useful skills in your area and immense creativity to apply those to different problems.’‘

As many as 600 students graduated in the convocation with a record number of 32 PhDs and 224 Master’s with thesis. Over 38 per cent of the graduates earned their degree based on a high-quality thesis.

  • Also read: IIT Madras unveils plans to transform India into a global chess powerhouse

CA Institute Bars Erring Students from Exams for 5 Years

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Cracking down on rule violations, the CA Institute has barred several students from CA exams for five years for possessing mobile phones during the recent May exams. 

The ICAI Examination Committee have now decided that such erring students who adopted unfair means during CA exams cannot appear in future exams for the next five years. However, the number of students against whom such stringent action is being taken has not been revealed. The geographies that these students represented were also not disclosed, when contacted.

This is not the first time the CA Institute is taking action on students adopting unfair means during exams, but this is the first time when a five year stringent punishment has been imposed, sources said. 

  • Also read: CA Institute to issue international networking guidelines for Indian firms, says Prez Agarwal 

Currently, the policy of Examination Department of ICAI prohibits possession of Mobile Phone or any other electronic device / gadgets inside the examination centre during Chartered Accountants Examinations. 

“During May 2024 Chartered Accountants Examinations, it was observed that certain examinees were found in the physical possession of the Mobile Phone and some telegram group/WhatsApp group/other channels of communication were found in their mobile phones. 

All the mobile phones were confiscated, and reports were taken from the Examination Centre and other Functionaries”, said the ICAI’s Examination Committee in a note published on ICAI website. 

The Examination Committee has now advised Students to go through the Instructions to Examinees provided along with the admit card, carefully and familiarize themselves with the same to ensure the compliance in letter and spirit.

Over 4 lakh students appeared in the May edition of CA exams that took place between 2nd to 17th last month.. The intermediate course exams were held on May 3, 5 and 9 (Group I) and May 11, 15 and 17 (Group II).

The final exams were held on May 2, 4 and 8 (Group I). For the Group II, the final exams were held on May 10,14 and 16.

  • Also read: ‘ICAI’s recent disciplinary actions on multinational accounting firms follow SC directives within legal framework’

People have ushered in change through peaceful means in the Lok Sabha polls: Venkaiah Naidu

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People have brought in the change they wanted through peaceful means in the recent Lok Sabha elections, said Venkaiah Naidu, former vice-president, while speaking at the 43rd convocation of the Institute of Rural Management Anand (IRMA), Friday.

  • Also read:Six MP elects including Amit Shah cross highest winning margin record

“India has proved to be a great democracy in the recent elections. Millions of people voted peacefully. Whatever change they wanted to bring, they have brought it peacefully. They gave a message to everyone — right from the top to the bottom. There is a message in the election, and I hope people understand the message. Political parties at times may win or lose, that is not the issue. The values, the work for the downtrodden, taking care of the repressed, taking care of the poorest of the poor … that should be on top of mind,” said Naidu while addressing 303 students who were conferred degrees during the ceremony.

“We have reduced corruption and poverty under the present regime. But we have challenges. We must all work together to eradicate poverty, end the urban-rural divide and curb social evil. That should be a priority in our lives,” he added.

Remembering former Prime Minister AB Vajpayee and his ability to manage political allies, former vice-president and BJP leader Venkaiah Naidu said, “He brought together 23 political parties. He was an able leader and gave a stable government at that time. I remember those days.” Naidu recalled the time when he had sought the “agriculture” portfolio when he was inducted into the Vajpayee cabinet, and the same was denied by the former PM, as BJP’s ally, Nitish Kumar, was in charge of the agriculture ministry.

Naidu said 50-60 per cent of India’s population still resides in rural areas and efforts should be made to bridge the rural-urban divide by empowering rural communities. “More needs to be done for the farming community. They are working hard to provide us food. This is an important aspect of public life and without food nobody can survive. We must make agriculture more profitable and sustainable,” he told the rural management graduates.

“We are all aware of the mutli-faceted and complex challenges facing rural India. From continued agrarian distress to infrastructure challenges, from limited access to education and healthcare, to the menace of unemployment, there are a host of adversities our rural communities face,” he added.

  • Also read:NDA elects Modi as leader, President dissolves Lok Sabha

Over 63 organisations participated in the campus placements at IRMA this year and made 325 job offers. The highest package of ₹31.15 lakh per annum was offered by Wipro. This is 17.58 per cent more than last year. The lowest CTC offered was ₹9 lakh per annum, which was 12.5 per cent more than last year. The students received an average salary package of ₹14.14 lakh per annum this year. 

Ed-tech start-up Leverage.Biz announces second ESOP buyback

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Ed-tech company Leverage.biz, which runs the study abroad platform Leverage Edu, along with Fly.Finance & Fly Homes, has announced the completion of its second employee stock ownership plan (ESOP) buyback exercise. 

According to Tracxn, Leverage.biz’s subsidiary Leverage Edu has secured a total funding of $58.3 million. In July 2023, Leverage Edu secured $40 million in a Series C funding round led by Educational Testing Service. 

Commenting on this development, Founder & CEO Akshay Chaturvedi said, “Creating wealth for my teammates is perhaps one of the most important goals for me after our students’ success. I am ecstatic that we could do this.”  

Also read: Modi assures unanimity in all decisions of new government

He added that the company was ‘oversubscribed for the issue’ and did not have enough supply of shares on sale. A large majority sold less than a quarter of their vested shares, and some did not sell at all. “That, by far, gives me incredible belief about the culture we’ve built, and the confidence we collectively have in our ability to build a great business. This makes me want to do another round of ESOP rollout across the company,” added Chaturvedi.  

The company reported that over 50 employees of the company across functions will benefit from this exercise.  

NEET-UG 2024 counselling to start in July

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The Centre said counselling for the controversy-hit NEET-UG 2024 will be conducted in four rounds from the third week of July even as the Supreme Court deferred the hearing of the case on Thursday to July 18.

A three-judge Bench headed by Chief Justice of India DY Chandrachud accepted the request of lawyers to adjourn the hearing. Advocates Mathew J. Nedumpara and Charu Mathur, appearing for the petitioners, said the Centre and the National Testing Agency had filed their counter-affidavits late on Wednesday, leaving little time for them to go through the documents.

Chief Justice Chandrachud informed the assembled lawyers that the CBI, which is investigating the case, has already filed a status report. The CBI has made several arrests in the past few days.

  • Also read: Extent of leak, key to ordering NEET-UG re-test: Apex court

The previous hearing on July 8 saw the apex court orally remark that the sanctity of NEET was compromised beyond doubt. Despite this, the Chief Justice had expressed reluctance to order a re-test. The top judge reasoned that such a step would be an ‘extreme last resort’ as it would be traumatic for the over 23 lakh students who had appeared in the undergraduate medical admissions test across the country on May 5 and whose careers now hang by a thread as allegations of question paper leaks, impersonation and other illegalities rage on. The court has sought clarity on whether the leaks were a result of systemic failure and whether there was a possibility to segregate the wrongdoers from the innocents.

The government, in its latest affidavit, has banked on an IIT (Madras) report to count out “mass malpractice”in the exam.

The Centre assured that candidatures of students found to be beneficiaries of any malpractices would be cancelled at any stage during the counselling process or even afterwards. It asserted that the counselling process could be manoeuvred around such cancellations. 

  • Also read: Exam fiascos and scams. Chaos and controversy in NEET-UG, UGC-NET shake up entrance test systems

The government explained that the allocation of seats would depend on the timing of the cancellation of seats if certain candidates were found to be beneficiaries of malpractices. Candidates are usually allowed to change seats in the first and second rounds of counselling as per the options exercised by them. Cancellation would not have any impact on the overall counselling process and allocation of seats if done before the third round, which is expected to start in the second week of September.

If candidature is cancelled after the third round, the vacant seats could still be offered in the subsequent round. Candidates who have already been allocated seats in the earlier rounds would not be able to participate in the subsequent round, the government said.

In case the candidature of any candidate is cancelled after the conclusion of four rounds, the vacated seats could be put up for additional rounds of counselling, the Centre submitted.

  • Also read:74 students scored centum in NEET UG since inception, 91% of them cleared the exam in 2024

The apex court is dealing with nearly 40 petitions alleging irregularities like students receiving different marks on their scorecards compared to their OMR sheets; unprecedented inflation of cut-off and average marks resulting in an unprecedented 67 candidates achieving perfect 720 marks, etc. Many of these petitioners have sought direction from the court to scrap NEET-UG 2024 and hold fresh exams.

The National Testing Agency, which holds the exam, has rubbished the allegation that 67 candidates scored perfect marks as “fallacious and incorrect”. It said the total number of actual candidates whose final scores reflected perfect 720 marks was 61. Out of these 61, 17 candidates spread across 16 centres in 15 cities had obtained 720/720 based on provisional answer keys and 44 on account of the revision in one answer key of Physics.

“Thus the actual candidates without revision of the answer key were only 17 candidates, which is not significantly higher than previous years,” NTA has reasoned.

Volvo India signs MoU with Indian universities to offer mentorship programs, internships

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Volvo Group India has signed a Memorandum of Understanding (MoU) with Manipal University, KIIT University, and SRM University to offer mentorship programs to postgraduate students and provide 50-75 internships annually.

  • Also read: Karnataka signs MoUs worth ₹22,000 crore with 7 companies 

The collaboration aims to build a stronger industry-academia engagement and enhance the industry-readiness of students in the automotive arena. It includes a two-semester credit program on industry-specific subjects and is designed to offer mentorship to postgraduates in mechanical, electrical, electronics, and computer science streams. Additionally, students will also be offered internship opportunities and pre-placement offers.

Kamal Bali, President and MD, Volvo Group India, told businessline, “In a year, we take approximately 50 to 75 Indians for internships, which last around six months for M-Tech students. Additionally, through National Apprenticeship Training Scheme (NATS), we engage nearly 100 individuals for year-long apprenticeships.”

Volvo Group India will support this initiative by training faculty members, facilitating industry-specific sessions with seasoned professionals, providing relevant use cases and problem statements for developing practical knowledge, conducting guest lectures, and imparting educational assistance to the other faculty members of the institutions. In addition, they will provide scholarships to female students opting for these programs, promoting diversity and inclusion in the automotive industry.

  • Also read: While internships are zooming, pre-placements decline

“For faculty, we are starting a one-month training program from Monday. Thirty people from different universities will be joining, and we expect another twenty by July, bringing the total to fifty,” he continued.

The Volvo Group is a manufacturer of trucks, buses, construction equipment, marine and industrial engines and also provides solutions for financing and service. The group employs 105,000 people, has production facilities in 18 countries, and sells its products in more than 190 markets. Volvo Group India hires nearly 100 freshers every year and in the past three years, they have averaged about 750 recruits annually.

“It’s not just Volvo, other companies in the automotive sector will also benefit from this collaboration. One of the main issues we face is the mismatch between the availability of jobs and the readiness of candidates. We seek to bridge this gap to ensure a better alignment between industry needs and workforce skills,” Bali added.

(Reported by bl intern Vidushi Nautiyal)

Unacademy co-founder Hemesh Singh steps down; to move into an advisory role

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Unacademy’s co-founder Hemesh Singh has stepped down as the chief technology officer and will move into an advisory role.

Founded in 2015 by Gaurav Munjal, Hemesh Singh and Roman Saini, Unacademy connects educators and learners in various streams for skill improvement by offering various courses. The company makes money from subscriptions of online and offline learning.

“After almost a decade of building Unacademy with @gauravmunjal and @romansaini, I have decided to move from an Executive Role to an Advisory Role,” Singh said in the post on X.

  • Also read: Edtech unicorn Unacademy’s COO Vivek Sinha resigns

“It has been a wonderful ride and I am extremely grateful to have been a part of this journey. We did change the Test Prep Industry for good. What a crazy journey it has been! Thanks a lot @gauravmunjal for everything,” he added.

SoftBank-backed edtech unicorn changed the goals for Munjal and Singh to access additional voting rights through bonus shares issued to them in 2022.

Munjal and Singh will get access to additional voting rights if the company forms a committee by March 2025 to work on its initial public offering, according to reports.

Unacademy has also seen a bevy of top-level exits, including chief operating officer Vivek Sinha and chief finance officer (CFO) Subramanian Ramachandran. However, the company has been steadily roping in new faces to fill the vacancies. Last month, it appointed Pratik Dalal as the CFO of its offline business.

Edtech unicorn Unacademy operating revenue grew to ₹907 crore in FY23 from ₹719 crore in FY22, according to reports.

Andhra Chamber of Commerce inks pact with Atal Incubation Centre, Anna University

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The Andhra Chamber of Commerce has signed a memorandum of understanding with Atal Incubation Centre at the Anna University Incubation Foundation here aimed at boosting the start-up ecosystem and aspiring entrepreneurs.

As per the joint initiative, the strategic tie-up would help both the partners to leverage their strengths and reach out to a wider audience with the Atal Incubation Centre, Anna University Incubation Foundation.

Andhra Chamber of Commerce President V L Indira Dutt exchanged documents with Atal Incubation Centre – Director and CEO P Uma Maheswari here, recently.

Atal Incubation Centre would incubate start-ups with Andhra Chamber of Commerce, promote their events and outreach programmes. The focus would be on the social sectors initially and later expanded to others based on the startup interests.

  • Also read: Nitte to offer MBA in ‘Innovation, Entrepreneurship, and Venture Development’

“We are proud to be associated with AIC Anna Incubator. The chamber has initiated an incubation centre and been the first nurturing home to at least six new enterprises to date.” Andhra Chamber of Commerce President V L Indira Dutt said.

Atal Incubation Centre, Anna University Incubation Foundation CEO P Uma Maheswari said, “AIC Anna Incubator is a Deep-Tech incubator supported by Atal Innovation Mission, NITI AAYOG, Government of India and Anna University.

In the past three years, Anna Incubator has supported 100 plus start-ups with varied services like technical support, mentorship, investment facilitation.”

“Andhra Chamber of Commerce encompasses successful entrepreneurs and many of them could be potential business mentors and Go-to-Market strategists. Connecting with the huge member network of Andhra Chamber of Commerce, shall provide a great learning for the startups,” Maheswari added.

Telangana CM Revanth Reddy announces proposal to establish Skill University

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Telangana Chief Minister, A Revanth Reddy, has announced that the State will have a Skill University. The Chief Minister asked the officials and industry bigwigs to come up with proposals for the establishment of the University one or two days before the start of the Budget Session of the State Assembly, which is by this month end.

The government will take an appropriate decision within 24 hours after examining the proposals received, an official statement said. The Chief Minister has proposed the establishment of Skill University within the premises of the Engineering Staff College since the college is located close to IT companies and other industries. At the meeting, it was decided that the industry department, in coordination with the education department, will engage with industry leaders and come up with a clear action plan for setting up the Skill University. The report is to be submitted before the assembly budget session (before July 23).

Reddy and the officials discussed the constitution of a Board for skill university on the lines of ISB (IInternational School of Business) and decided to float a board temporarily. The Chief Minister suggested to the officials to come up with a blueprint in advance for the courses that are being offered at the university, the course curriculum, industrial needs, and employment opportunities for the youth.

It has been envisaged as a PPP project in a hub and spoke model that is self-sustainable, the official release said, adding that the hub will be located in Hyderabad with spokes in every erstwhile district headquarters to cover all parliamentary constituencies eventually. However, the CM asked the officials to examine whether the skill university should be established through a private partnership between the government or if the government alone take the responsibility.

Industry will play a critical role in demand assessment, curriculum development, skill training, as well as offering internships. A corpus fund will be created with CSR donations from industry.

The officials have been asked to hire a reputed consultancy to prepare all the necessary proposals and project reports for the establishment of the skill university. The chief minister also announced that the Department of Industries will be the nodal agency for the university.

Deputy CM Bhatti Vikramarka, IT and Industries Minister D Sridhar Babu, and Advisor to the Chief Minister Vem Narender Reddy also participated in this meeting. Special Chief Secretary to IT and Industry Jayesh Ranjan, Principal Secretary to Education B Venkatesham, CM Special Secretary Ajith Reddy, Vishnuvardhan Reddy, Dr. Reddy’s Lab Chairman Satish Reddy, Hari Prasad from Bharat Biotech, CREDAI President Shekhar Reddy, and Srini Raju (I Labs) were present.

Extent of leak, key to ordering NEET-UG re-test: Apex court

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The Supreme Court on Monday said the cancellation of the undergraduate National Eligibility-cum-Entrance Test (NEET-UG) 2024 in its entirety is an “extreme last resort” as it affects over 23 lakh students.

However, Chief Justice of India DY Chandrachud concluded that the fact that questions were leaked and the sanctity of the exam was compromised was “beyond question”.

“One thing is very clear, the leak has taken place… that the sanctity of the exam is compromised is beyond question. Now how wide is the leak? We have to determine the nature of the leak. Before we order a re-test, we have to know the extent of the leak… a re-test affects the lives of 23 lakh students.

  • Also read:Chaos and controversy in NEET-UG, UGC-NET shake up entrance test systems

“Cancellation is the extreme last resort. It would be done only if we have no other go… If we cannot separate the wheat from the chaff, re-test would have to be directed,” he observed.

The three-judge Bench, also comprising Justices JB Pardiwala and Manoj Misra, told the Union government and the National Testing Agency (NTA), which conducts the exam, to come out of the “self-denial” and aid the court in finding out the extent of the leak.

But petitioners seeking a re-test, represented by advocates Mathew Nedumpara and Charu Mathur, argued that the credibility of the exam was lost. They said it was not possible to isolate frauds from the innocents.

Solicitor-General Tushar Mehta, for the Centre, said the leaks were an instance of local malpractice.

He countered the “unprecedented” phenomenon of 67 candidates scoring perfect 720/720, saying the top 100 candidates were distributed among 95 sectors in 56 cities across 18 States and Union Territories.

The NTA argued that the NEET syllabus in 2024 was easier than the previous four years when there were a total of only seven perfect scorers.

  • Also read: CBI arrests owner of Godhra school in NEET exam scandal
Systemic or not

“On the basis of the data on record placed before it, a court has to see if the breach is systemic; whether it has affected the integrity of the entire exam process; whether it is possible to segregate the beneficiaries from the untainted students. If segregation is not possible, it would be necessary to order a re-examination. On the other hand, if the breach is confined to specific centres, it may not be appropriate to order a re-examination, especially when it involves over 23 lakh students,” he said.

The court asked the NTA to make a “full disclosure”. It said the time has come for the Centre and the NTA to use technology, common sense and knowledge of law to identify the wrongdoers.

It ordered the NTA to file a reply before Thursday, the next date of hearing, on questions raised by the Bench. The court directed the CBI to file a status report and the material it had unearthed.

The Centre, too, is to file a detailed response on the steps taken to protect the sanctity of the NEET.

The government-appointed committee, chaired by former ISRO Chairman K Radhakrishnan, was asked to detail the work done so far.

The court said it would consider on Thursday if the entire comprehensive results, except that of candidates under scanner, could be published.

ICAI can proceed against entire CA firm for professional misconduct: Delhi High Court

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In a landmark ruling, the Delhi High Court has empowered the CA Institute’s Disciplinary Committee (DC) to take action against an entire CA firm even when no single individual can be held responsible for the allegations in a complaint.

Dismissing a batch of 10 writ petitions filed by partners from firms including BSR and Associates LLP, Price Waterhouse and Lovelock & Lewes, Justice Prathiba M. Singh ruled that the DC is free to proceed against the firm as a whole or its individual members, as deemed appropriate, in response to allegations of professional misconduct.

The main question that arose in the ten writ petitions was whether CA Institute can take action against chartered accountant firms under the CA Act or is the ICAI empowered to only take action against one person, who is identified by the firm as a “member answerable”?

The petitioners had contended that ICAI lacks the authority to proceed against partners who are not specifically named or identified as responsible for the alleged misconduct. Had this argument been accepted by the Delhi High Court, then the ICAI would in effect only have the power to take action against the persons identified as ‘members answerable’ by the firm itself, and not against the firm as a whole.

  • Also read: ICAI sets ball rolling on ‘aggregation of firms’, takes two key decisions
Significant ruling

The latest Delhi HC ruling is significant as post the break out of Satyam scam in January 2009, the CA Institute has been taking a stance that it enjoyed power to proceed against the erring firm. This stance was however challenged by audit firms contending that no explicit provision existed in law to penalise or proceed against the firm.

However, with the amendments introduced in year 2022 to the CA Act, the audit firms too were brought under disciplinary mechanism. The only issue has been that the Corporate Affairs Ministry (MCA) has so far not notified this disciplinary mechanism related provisions.

Noting that CAs are like “gatekeepers” of the financial system, Singh underscored the need for a proper mechanism to ensure that there is no misconduct and to preserve the robustness and the integrity of the profession. 

“If firms are permitted to only pin down one single individual in respect of alleged misconduct spanning over decades, the entire purpose of the Act and the Rules would be completely defeated,” Singh said in a 71 page order issued on Friday.

Directions to MCA 

The Delhi High Court has in this latest ruling directed MCA to strengthen the Institute of Chartered Accountants of India (ICAI) by “expeditiously” notifying the amendments passed by the Amendment Act of 2022.

It has also asked MCA to undertake a consultation in order to clearly set out the framework in which multinational accounting firms (MAFs), whose presence is also necessary in India, can operate. 

“Such firms (MAFs) also contribute in bringing global best practices to India with immense opportunities for youngsters. They also render services to Indian businesses even at a global scale. Thus, the provisions relating to licensing agreements, brand usage etc., also need to be looked into,” Delhi High Court order said.

This latest ruling is significant as MCA has so far not implemented the crucial disciplinary mechanism-related changes introduced in the Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (amendment) Act 2022. 

It had however in May 2022– just over a month since enactment of this law in Parliament—put into effect most provisions of this law.

This amendment law had among other changes overhauled disciplinary mechanism in three professional institutes. It mandated that a non-member would become the presiding officer of the disciplinary committee in these institutes. However, a solace for the institutes is that the government would be appointing the officer only out of the names recommended by their respective central council.

As part of the revamp of the disciplinary committee, the law had brought a change in its composition so as to introduce a 2+3 formula (two institute nominees and three non-institute members).

Meanwhile, Amarjit Chopra, Past President of ICAI, said that the Delhi High Court ruling strengthens the hands of the CA Institute and is a welcome step. After Satyam scam, ICAI had approached the government and conveyed that under exceptional circumstances it should be allowed to proceed against the erring audit firm, he added. The relevant amendment happened only in 2022.

ICAI’s concerns

It maybe recalled that the CA Institute had said — prior to the enactment of the law in 2022–that the disciplinary committee revamp was not the best outcome for it and therefore, had written to the MCA seeking a re-look at the provision. 

The ICAI had preferred continuation of the earlier 3+2 formula and had also submitted that the presiding officer has to be a member of the institute and a chartered accountant for the disciplinary mechanism to work efficiently. However, these views did not find acceptance with the Centre.

ICAI sets ball rolling on ‘aggregation of firms’, takes two key decisions

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The CA Institute has made two key decisions to create a supportive framework for the aggregation and expansion of CA firms, President Ranjeet Kumar Agarwal announced.

These decisions were taken at the Central Council meeting that ended on July 2.

One of them is related to relaxation of the existing five-year demerger norm to a ten-year period. Earlier, firms going in for a merger can regain their legal names if they do a demerger within five years. After five years, they will lose the chance of getting back their old names. This norm had come in the way of mergers among CA firms as they felt the window was too short and they couldn’t come back to earlier structure if merger did not work out as planned, Agarwal explained.

Now there will be trust that till ten years, the earlier legal names will be preserved and if mergers don’t work, the concerned firms can go in for demerger anytime upto those ten years, he added.

“If you are not happy with the merger, then you can de-merge till ten years and get your old names back. This decision will increase the confidence to go in for mergers,” he said. 

  • Also read: ICAI can proceed against entire CA firm for professional misconduct: Delhi High Court
Limited Liability Partnership

The second decision is on allowing Limited Liability Partnership (LLP) to become a partner in another LLP. “By retaining the two firm identity intact, the two firms can still come together and work with combined strength to bid for projects and deliver. There will be combined resource and combined expertise,” Agarwal said.

ICAI President also said that more steps are on the anvil to promote ‘aggregation of firms’. The next council meeting could see approval of international networking guidelines, he added.

The framing of international networking guidelines is part of terms of reference of ICAI committee on ‘aggregation of CA firms’. The committee is yet to submit its report to central council. 

The ICAI moves on ‘aggregation of firms’ are significant as government wants Indian audit firms to grow big and form international networks at global stage. 

Prime Minister Narendra Modi had in his first term in July 2017 —during his address at the chartered accountants day event —called for creating four big Indian accounting firms that are counted among the world’s Big-8.

Currently, there are about 96,000 CA firms in India with about 1.6 lakh practising chartered accountants. Of these, about 75,000 firms are proprietorships.

NEET-PG 2024 to be held on August 11

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The NEET-PG 2024 entrance examination will be held on August 11 in two shifts, the National Board of Examinations in Medical Sciences announced on Friday. Meanwhile, on the issue of NEET-UG 2024, the Centre has filed a separate affidavit filed in the Supreme Court submitting that it is not rational to scrap the exam, held on May 5, in its entirety.

“In continuation of NBEMS notice dated 22.06.2024, the conduct of NEET-PG 2024 examination has been rescheduled. It will now be conducted on August 11 in two shifts. The cut-off date for eligibility to appear in the NEET-PG 2024 shall continue to be August 15, 2024,” the Board said in a notification. The Health Ministry had earlier decided to postpone the NEET-PG entrance examination, which was slated to be held on June 23, as a “precautionary measure” in the wake of allegations on the integrity of certain competitive exams.

NEET-UG 2024

Meanwhile, in an affidavit filed in the Supreme Court, the Centre stated that scrapping the NEET-UG 2024 exam in its entirety would “seriously jeopardise” lakhs of honest candidates and not be rational in the absence of any proof of large-scale breach of confidentiality, as per agency reports. The top court is scheduled to hear on July 8 a batch of pleas, including those alleging irregularities in the examination held on May 5 and seeking a direction that it be held afresh.

The National Eligibility-cum-Entrance Test-Undergraduate (NEET-UG), conducted by the National Testing Agency (NTA) for admissions to MBBS, BDS, AYUSH and other related courses, has caused a huge uproar across the country over alleged irregularities like question paper leaks and led to mass protests and filing of multiple pleas in courts.

Responding to pleas seeking the scrapping of the controversy-ridden exam, re-testing, and a court-monitored probe, the Union Ministry of Education, in its affidavit, said there was no proof of any large-scale breach of confidentiality in the examination, which was taken by over 23 lakh candidates at 4,750 centres in 571 cities.

“It is also submitted that at the same time, in the absence of any proof of any large-scale breach of confidentiality in a pan-India examination, it would not be rational to scrap the entire examination and the results already declared,” the preliminary affidavit stated.

It also said that the Centre was committed to protecting the interests of lakhs of students who have attempted the question papers fairly and, after years of hard work, without trying to obtain any illegal advantage.

It added the Education Ministry has constituted a high-level committee of experts to suggest effective measures for conducting transparent, smooth and fair examinations by the National Testing Agency.

CA Institute signs MoUs with eight universities to promote commerce curriculum

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The CA Institute on Friday signed Memorandum of Understanding (MoUs) with eight different Universities for the promotion of commerce curriculum across the country and make it more efficient. 

These MoUs were signed at the 4th Global Education Summit in Commerce and Accountancy (GESCA) 2024 in the capital. The Summit was inaugurated by Harsh Malhotra, Minister of State for Corporate Affairs. 

The MoUs were signed with University of Kerala, Manipal University, S.S.Jain Subodh PG College, Ganpat University, Kongu Arts and Science College, Graphic ERA (Deemed to be University), Amity University and Apeejay Stya University.

As part of the MoU, ICAI will also contribute to faculty training programs undertaken by the universities and there would be collaboration between the universities and CA Institute for further growth of the commerce and accountancy profession.

The signing of MoUs with various universities underscores ICAI’s dedication to enhancing the quality of commerce and accountancy education in India. This initiative will not only bridge the gap between theoretical knowledge and practical application but also equip future graduates with the necessary skills to excel in a dynamic global economy, according to ICAI President Ranjeet Kumar Agarwal. 

In his inaugural address, Harsh Malhotra emphasized the pivotal role of education in national development. “India has established a commendable position in the field of accountancy. Educationists are crucial in advancing India’s economy to third place globally. The National Education Policy (NEP) 2020 prioritises holistic student development, with the educational institutions nurturing their growth. Chartered Accountants plays a pivotal role in India’s progress by auditing companies, ensuring transparency, and upholding ethical standards. Financial literacy is very important, and I am happy that ICAI is taking a lead in spreading financial literacy,” he said.

Agarwal said that ICAI is committed to advancing commerce education not just in India but globally. Today, we celebrate 75 years as educators and regulators setting global benchmark in commerce education. “Looking ahead, we have a 25-year plan focused on how India can achieve developed nation status, continuing our commitment to excellence and global impact in the field of commerce and accountancy,” he added.

IIT Madras Alumnus Prem Watsa donates $5 million for brain research

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Fairfax Financial Holdings Limited, a leading Canadian financial company founded by IIT Madras Alumnus V Prem Watsa, is going to support the research activities of IIT Madras’ Sudha Gopalakrishnan Brain Centre through a research grant of $5 million (approximately ₹41 crore). Watsa, who graduated from IIT Madras in 1971 with a First Class degree in Chemical Engineering, was presented with the Distinguished Alumnus Award on 1999.

The Sudha Gopalakrishnan Brain Centre was launched in March 2022 to power an ambitious Global Project to image the human brain at the cellular levels by generating unprecedented human brain data, scientific output and technology tools.

  • Also read: IIT Madras Zanzibar introduces new M Tech Program in Ocean Structures

Commending the research underway at the Centre, Watsa said the technology platform they have developed that generates high-resolution image volumes of human brains is very unique. It has far reaching impact in advancing our knowledge of human brains, developing insights that will lead to solutions for highly challenging brain diseases.

To handle this enormous complexity, they are working in close collaboration with brain researchers in various fields around the world. Fairfax is pleased to support this cutting-edge R&D work and we wish them the very best to reach greater heights.”

  • Also read: IIT Madras partners with SilTerra Malaysia for silicon photonic processor chips

Kris Gopalakrishnan, Co-founder of Infosys and Distinguished Alumnus of IIT Madras who played a key role in establishing the Centre, on the funding said, this augments the support the Centre is already receiving from various philanthropic and CSR funds and enables the Centre to scale up its research on human brain atlas.”

The donation was facilitated by the Canadian Friends of IIT-Madras (CFIITM), a Canadian Revenue Agency (CRA) registered charity that seeks to advance the cause of IIT-Madras among its Canadian alumni and Canadian society at large.

PM Modi inaugurates new campus of Nalanda University in Bihar’s Rajgir

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Prime Minister Narendra Modi visited Bihar on Wednesday, June 19, to inaugurate the new Nalanda University campus near Rajgir’s ancient university ruins. The campus is named after the ancient university, which attracted scholars from around the world about 1,600 years ago.

External affairs minister S Jaishankar and ambassadors from 17 partner countries also attended the event, according to officials.

Terming the occasion “historic”, the university’s interim vice-chancellor professor Abhay Kumar Singh said. “We consider the visit of the Prime Minister a very prestigious and auspicious occasion. The Prime Minister has made the occasion special because he is bringing the diplomats of East Asia Summit countries. External Affairs Minister S Jaishankar is also coming. This celebratory spirit will give Nalanda a boost.”

Modi visited ancient Nalanda, which was announced as a UN heritage site in 2016, around 9.45am and inaugurated the campuses around 10.30 am. He will also give a speech, according to a statement from the Prime Minister’s Office (PMO).

Abhay Kumar Singh said Modi’s visit would make the university, where students from 26 countries are studying, more popular globally.

Bihar governor Rajendra Vishwanath Arlekar and chief minister Nitish Kumar joined the Prime Minister.

The university moved to its new campus in 2020, which combines traditional and modern architecture. The 455-acre campus includes a Net Zero area with 100 acres of water bodies.

NEET aspirants say faith in NTA has been shaken, want re-test option for all candidates to be considered

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Many medical aspirants are clamouring for a retest of the NEET-UG 2024, which has been plagued by charges of irregularities, paper leaks and a steep rise in the number of students in the merit list, with the Centre’s decision to cancel grace marks for 1,563 students doing little to assuage their concerns.

Student bodies and the youth wings of many political parties have been holding protests countrywide to flag their concerns over alleged irregularities in the prestigious exam that saw 67 students score a perfect 720, unprecedented in the National Testing Agency’s (NTA) history.

With reports of paper leak and other discrepancies continuing to pour in, many students say they have lost faith in the conduct of the exam.

While many demand a thorough inquiry into allegations of a paper leak, a considerable number think the re-test option given to 1,563 students is a mere “eyewash”.

“The inflation in marks is too much to be offset by a selective re-test of 1,563 students. I think the re-evaluation of marks of each student will be a good thing, otherwise a universal re-test, but then the government must give us one to two months to prepare,” said Aheli Ghosh Hazra, a National Eligibility cum Entrance Test (NEET) aspirant from West Bengal, told PTI.

On the conduct of NEET this year, she said, “You cannot fix a sick tree by just taking a sick leaf out of it. The whole tree must be uprooted. We have no clue to what extent the rigging took place.”

Another aspirant from Madhya Pradesh said things look “fairly unjust” from his point of view. “They just want to get it over with. They also want to hide the paper leak scam,” Animesh, a NEET aspirant from Madhya Pradesh, said.

“Things are not very clear… I think the matter should be probed by a third party, which is not biased towards the NTA,” he added. Animesh demanded a retest for all candidates.

“Only those with scores above 650 would have an issue with a retest. There must be a retest, but they must give some more time to students. Everyone is out of momentum. Everyone is bogged down by media reports. Logistically, it won’t be feasible for the NTA, too, to conduct a retest in a short time,” he said.

Tejas Gaur of Delhi, who cleared the NEET exam, said he would retake the exam, if it is conducted again. “I do not think the scam is limited to 1,563 students. The number is too low to have caused such an inflation in marks,” Tejas, who got 4,627th rank, said.

The NEET-UG examination is conducted by the NTA for admissions to MBBS, BDS, AYUSH and other related courses in government and private institutions across the country.

The examination was held on May 5 across 4,750 centres and around 24 lakh candidates appeared for it. Its results were expected to be declared on June 14 but were announced on June 4, apparently because the evaluation of the answer sheets was completed earlier.

In the wake of the controversy, the Education Ministry has set up a four-member expert panel headed by a former UPSC chairman to review the grace marks.

A retest of 1,563 students who received grace marks will be held on June 23. The results of the retest are scheduled to be announced on June 30.

Kapil Gupta, the founder NEETPrep.com, said students who scored well run the risk of scoring less in the retest as they have post-exam inertia, and considering the controversy, even two months would be less for them to prepare again properly.

“Matters have come to a head and reached the Supreme Court…The second challenge is no less. We have decided to get students to get ‘hot’ and exam ready. Post exam, most have gone cold and might be rusty. As a result, almost certainly, most will see a drop in their marks, even if they are given two months to get ready,” Gupta told PTI.

The IIT-Delhi alumnus, who claims to have 2 lakh students onboard for NEET preparations, and had four perfect scorers in the latest exam, asked students to get into practice mode right away.

“We have provided one month access to NEET aspirants on our platform and have provided them guidance on how to shrug off post-exam inertia. Easier said than done. Students who scored well in NEET 2024 run the biggest risk now if re-NEET happens,” he said.

Major General Ramesh Raina (retd), who served as the Managing Director of the Army Welfare Education Society – overseeing all army schools – for four years from 2019 to 2023, said, “The recent case of the alleged leak in the NEET examination is very unfortunate… I empathise with the children and the parents,”

He said the NTA’s “unblemished past” has been marred by “unscrupulous elements” who have leveraged loopholes in the system.

“The magnitude of such leakage needs to be assessed. While the case is sub-judice, it is hoped and prayed that the faith in the testing agency is restored through corrective measures, including holding the concerned officials accountable,” Gen Raina said.

The Supreme Court on Thursday sought responses from the Centre, the NTA and others on petitions, including those seeking scrapping of the NEET-UG 2024 exam and a court-monitored probe into alleged irregularities in the medical entrance test.

The apex court also stayed further proceedings on some pleas concerning the NEET-UG 2024 exam, which are pending before different high courts across the country.

However, during the hearing, the bench made it clear that it was not staying the counselling process.

Wipro inks MoU with Anna University to provide skill-based training on VLSI design

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Wipro Ltd has signed an MoU with Anna University in Chennai to provide faculty and students skill-based training on VLSI design. It plans to set up an innovation centre to offer skill-based courses to sixth and seventh semester students of the electronics department.

The course will be delivered by Wipro’s Talent Skilling Team. Students will get internships to work on real-time problems and placement opportunities on completing the course. Faculty will also be trained in these courses , a release from Anna University said.

Wipro and Anna University inked the MoU on Thursday in the presence of the Vice-Chancellor of Anna University and the Wipro leadership team headed by Sanjeev Jain, Chief Operating Officer, and R. Srikumar, Chief Operating Officer of Wipro Engineering Edge.

The MoU aligns with the university’s purpose and recent attempts to provide industry-relevant and industry-ready curriculum and training. It is envisaged that Wipro would soon establish a Centre of Excellence in the field of VLSI . The activity was initiated and coordinated by the Centre for University-Industry Collaboration, the release said.

Flying cadet, doctor, and cricketer among diverse incoming students at MICA Ahmedabad

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A flying cadet, a doctor and a cricketer are among this year’s incoming batch of 235 students across three programmes offered by MICA Ahmedabad.

In terms of gender ratio, 47 per cent of the incoming batch across all three programmes ~ flagship Post Graduate Diploma in Management Communication (PGDM-C), PGDM Crafting Creative Communications (CCC), and Fellow Programme in Management (FPM) — are females, stated an official release from the institute.

Among the PGDM-C students is 26-year-old Param Veer Chahal, who underwent training at the Officers Training Academy, Chennai and Air Force Academy, Hyderabad, as an officer cadet. However, a knee injury at the last leg of his training compelled him to withdraw from flying and join MICA.

  • Also read: MAHE appoints Raviraja NS as COO

Similarly, another PGDM-C student Shreyas Walekar (22), is a cricketer who has participated in various national tournaments, including Vijay Merchant Trophy (U-16) 2016-17, BCCI West Zone Camp (U-16) 2017, Cooch Behar Trophy (U-19) 2019-2020 and C.K Nayudu Trophy (U-25) 2022.

The new batch also features students with professional degrees in architecture, law, dentistry, and chartered accountancy. Notably, students hail from various states, including Maharashtra, Delhi, Gujarat, Uttar Pradesh, Tripura, and Assam.

“The MICA admission process has always facilitated bringing a very interesting mix of diversity across various categories to the campus. This year, in the PGP class of 206 students, we have a host of students with varied professional degrees including architects, lawyers, dentists, chartered accountants and a Doctor. We also have a few students with postgraduate degrees in international journalism, sports management, and economics,” stated Githa Heggde, Dean of MICA.

The highest number of students are from Maharashtra (46), Delhi (31), Gujarat (27), Uttar Pradesh (25), and others. Interestingly, the batch also has one student from Tripura and two from Assam. The institute has students from various disciplines like MBBS, Pharma, Architecture, Dentistry, Design, Law, and Finance, the release added,

Karnataka HC sets aside NCLT stay on Byju’s second rights issue

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The Karnataka High Court has set aside the National Company Law Tribunal (NCLT) order that restrained embattled edtech company Byju’s from launching a second rights issue.

Investors — Peak XV Partners, General Atlantic, and Prosus — had filed a plea in the NCLT to halt Byjus’ second rights issue, as it would further dilute their holding in the company.

Justice SR Krishna Kumar said he was sending the case back to the NCLT for fresh consideration. The detailed copy of the order is awaited.

  • Also read: Company law proceedings against Byju’s still underway: MCA 

On June 12, the Bengaluru bench of NCLT directed Byju’s to maintain status quo on existing shareholders and their holding.

“Status quo with regard to existing shareholders and their shareholding shall be maintained till the disposal of the main petition,” the order that was made available on June 13 said.

The order restrained Byju’s from using the proceeds of the second rights issue, which, according to the investors, commenced on May 13 and was to end on June 13. The same is to be deposited in a separate account until the disposal of the main petition.

  • Also read: Prosus writes off $493-m investment in Byju’s

The move was challenged in the two writ petitions filed by Think & Learn (parent company of Byju’s) as well as its Managing Director Byju Raveendran and executive directors Riju Raveendran and Divya Gokulnath.

Usually, NCLT orders are challenged before the National Company Law Appellate Tribunal (NCLAT); however, Byju’s filed a writ in the high court.

The order was passed with regard to an ‘oppression and mismanagement’ application filed by the investors of the company such as Peak XV Partners, General Atlantic, and Prosus.

The case is now expected to come up for hearing on July 4.

TAPMI commences 2024-26 MBA batch with 521 students

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The Manipal-based TA Pai Management Institute (TAPMI) commenced the academic year for the batch 2024-26 on June 26. TAPMI welcomed the 42nd batch of MBA, the 11th batch of MBA – Banking and Financial Services (BKFS), the seventh batch of MBA – Human Resources (HRM), the sixth batch of MBA – Marketing, and the third batch of MBA – International Business.

The batch comprises 369 students in the core MBA programme, 58 in the BKFS programme, 35 in the HRM programme, 36 in the Marketing programme, and 23 in the International Business programme.

The batch of 521 students comes from diverse educational backgrounds. Of them, 34 per cent are from engineering, 27 per cent from commerce, and 18 per cent from management, with representation from 25 States and UTs of India. The percentage of female students is 48 per cent.

Welcoming the new batch, Rajeev Kumra, Director of TAPMI, said: “This is an exciting time to launch your careers. Embrace every opportunity that comes your way during this two-year journey. Explore different avenues, discover your passions, and don’t be afraid to step outside your comfort zone. This is a time to learn, grow, and make lifelong connections. So, worry less, enjoy the journey, and make the most of every day.”

Nikhil Sharma (alumnus – batch 1997-99), Managing Director of Perfetti Van Melle India, who was the chief guest on the occasion, urged the students to embrace the learnings from both successes and setbacks.

“Don’t be afraid to step outside your comfort zone and contribute to your organization beyond just your assigned tasks. As you embark on your summer internships, approach them with a focus on maximizing your learning, whether it confirms your passion for a particular field or helps you eliminate options. Welcome to the world of business, a journey filled with experiences that will shape your future,” he said.

Saraswati Chandrasekharan (alumna – batch 2002-04), Assistant Vice President, Senior Principal, Organization Development, Infosys Ltd, who was the guest of honour, shared her experience after she graduated from TAPMI and her journey in the corporate world. TAPMI can be life-changing and will become a pathway to design a great career, she said.

MAHE appoints Raviraja NS as COO

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Manipal Academy of Higher Education (MAHE), an Institution of Eminence and deemed-to-be university, has appointed Raviraja NS, Director – Planning and Monitoring, as the Chief Operating Officer of MAHE with effect from July 1.

Raviraja will focus on enhancing operational efficiencies of the non-academic functional departments of MAHE like general services, purchase, projects, IT and digital transformation, human resources, legal, corporate relations, public relations, media and social media, hostels and campus safety, which will report to him.

Raviraja earned his MSc in Biosciences in 1993 and PhD in Biosciences (Microbiology) in 1997 from Mangalore University. He has also completed an MBA in Operations Management. He has received postdoctoral training at Mount Allison University, Canada, and Albert Einstein College of Medicine, New York, where he also served as faculty until 2008. Following this, he joined Montefiore Medical Centre / Albert Einstein Cancer Centre in New York City and worked there until 2010 as a faculty.

In 2020, he joined MAHE as Founding Director of Corporate Relations and was soon appointed Professor and Coordinator at the Manipal Centre for Biotherapeutics Research (MCBR). Under his leadership, MCBR has emerged as a leading research centre in MAHE and India. In March 2023, he was appointed as the Director – Planning and Monitoring of MAHE, Manipal.

Congratulating him, Lt Gen MD Venkatesh, Vice Chancellor of MAHE, Manipal, said: “Dr Raviraja is the right choice for the position of Chief Operating Officer, due to his vast academic, research, administrative and industrial experience. In his role as Director of Planning and Monitoring at MAHE, he has worked closely with leadership in developing and monitoring vital strategies of the university. He had even served in the leadership roles of Manipal group company ‘Stempeutics Research’ for a decade while being associated with MAHE as an adjunct faculty and PhD guide at Manipal School of Life Sciences. I trust he is well acquainted with the ethos and principles of the university.”

NTA announces re-test result, revised rank list for NEET-UG

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The National Testing Agency announced the revised rank list for the medical entrance exam NEET-UG on Monday, officials said.

The revised result was announced after a retest was conducted for candidates who were earlier awarded grace marks to compensate for loss of time as the exam on May 5 started late at six centres.

Also read: Chaos and controversy in NEET-UG, UGC-NET shakes up entrance test systems

For the re-test conducted at seven centres on June 23 following a Supreme Court order, 48 per cent of the 1,563 candidates did not appear.

National Testing Agency (NTA) officials reported that 813 of the 1,563 candidates appeared for the retest while the others opted for the marks without the grace.

UGC-NET rescheduled: New exam dates released by NTA

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Amid a raging row over alleged irregularities in the conduct of competitive exams, the National Testing Agency (NTA) Friday night released fresh dates for cancelled and postponed examinations, announcing the UGC-NET will now be held from August 21-September 4.

The University Grants Commission–National Eligibility Test (UGC-NET) was cancelled a day after being conducted on June 18 as the education ministry received inputs that the integrity of the exam was compromised.

Union Education Minister Dharmendra Pradhan had said the question paper was leaked on the darknet and circulated on the Telegram app. The matter is being probed by the CBI.

The UGC-NET is a test to determine the eligibility for the award of Junior Research Fellowship, for appointment of assistant professors and admission to PhD courses.

  • Read: NTA DG Subodh Singh removed amid NEET, NET controversy

In a shift from the earlier pattern, the exam was conducted in offline mode this year and on a single day. However, the rescheduled exam will be conducted according to the earlier pattern of Computer Based Test (CBT) spread across a fortnight.

The Council for Scientific and Industrial Research (CSIR) UGC-NET, which was postponed as a preemptive measure amid the row over alleged irregularities in the conduct of exams, will now be held from July 25-July 27.

The CSIR UGC-NET is accepted for PhD admissions in Chemical Sciences, Earth, Atmospheric, Ocean and Planetary Sciences, Life Sciences, Mathematical Sciences, and Physical Sciences.

The National Common Entrance Test (NCET) for admission to the four-year Integrated Teacher Education Programme (ITEP), which was postponed hours before its scheduled commencement on June 12, will now be conducted on July 10.

The test is held for select central and state universities or institutions, including IITs, NITs, RIEs, and government colleges.

In the line of fire over the alleged irregularities in medical entrance examination NEET-UG and PhD entrance NET, the Centre had last week notified a panel to ensure transparent, smooth and fair conduct of examinations through the NTA.

While the NEET is under scanner over several alleged irregularities, including paper leak, the UGC-NET was cancelled as the ministry received inputs that the integrity of the exam was compromised.

Two other exams — CSIR-UGC NET and NEET-PG — were cancelled as a preemptive step.

IIT Madras launches world’s first MBA in digital maritime and supply chain management

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Indian Institute of Technology Madras (IIT Madras) made history on Friday by launching the World’s First MBA in digital maritime and supply chain management. This groundbreaking 24-month program, developed by IIT Madras Departments of Management Studies and Ocean Engineering along with industry partner i-maritime Consultancy, is designed to cater to the needs of working professionals worldwide. It aims to equip global professionals with the skills necessary to navigate the rapidly evolving digital landscape of maritime trade and supply chain management, as per a release from the institute.

Those with a Bachelor’s Degree having secured at least 60 per cent marks and a minimum of two years of full-time work experience are eligible to apply. The admission process includes an online IIT Madras Admission Test followed by personal interviews for shortlisted candidates. Applications are already open for this program with the first batch commencing in September 2024.

  • Read: IIT Madras introduces BTech in AI & data analytics

The program offers a unique blend of online learning and on-campus immersion modules, providing flexibility while ensuring a comprehensive educational experience. Over two years, the participants will engage with cutting-edge digital technologies such as IoT, AI, ML, and Blockchain, enhancing their ability to tackle modern maritime challenges and drive career advancement.

The MBA program, extendable to four years, features a comprehensive curriculum of 900 hours of classroom sessions and project work, totalling 192 credits. Participants benefit from a rigorous curriculum that includes six on-campus immersion modules and extensive access to IIT Madras’ learning resources, including the Digital Maritime Library.

The program fee is ₹9 lakh, payable in instalments. Scholarships covering up to 50 per cent of the course fee are available, and the program is eligible for bank loans.

IIM Kozhikode sets record by admitting 59% female students to flagship PGP Program

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IIM Kozhikode has created history this year, by admitting 59 per cent female students to its flagship PGP, which is now into its 28th year.

Arun Kohli, Managing Director and Country Head of India, Morgan Stanley, was the Chief Guest for the inauguration ceremony, which was presided over by Debashis Chatterjee, Director IIM Kozhikode.

Kohli recounted his corporate journey from humble origins and encouraged students to never let go of opportunities that are bound to come their way owing to a resurgent India making giant global strides. He inspired students to be the best versions of themselves by aiming high and focusing on learning with an open mind, as education is a lifetime process.

Debashis Chatterjee said the institute this year yet again achieved a significant milestone: close to 60 per cent female students, the highest ever in our history. The decade-long initiative not only transformed IIMK but has also raised the stake of women in management across the country, paving the way for a more inclusive and equitable future in business leadership.

Considerably bettering its own record among older IIMs in the country and further bolstering its credentials as Diversity Leaders among B-Schools of the country, IIM Kozhikode had first broken the glass ceiling, when PGP-17 batch recorded 54 per cent women in the year 2013. 2021 was another landmark year in terms of Gender Diversity as IIMK again breached the 50 per cent mark in admitting women students.

The latest inductees are for its flagship Post-Graduate Programme (PGP), PGP-Liberal Studies and Management (PGP-LSM), PGP-Finance (PGP-F) and Doctoral Programme in Management (PhD). The new inductees comprise  a total of 631 students into regular, full-time programmes: 28th batch of PGP (497 students), 5th batch of PGP-LSM (53 students), 5th batch of PGP-F (53 students), and 18th batch of DPM (Ph.D) (28 students).

For 2024, PGP-LSM 05 has a batch strength of 53 students with 58 per cent female students. PGP-Fin has also registered an intake on 53 students this year. The PhD Programme (DP) is now into its 18th batch and has inducted 28 students, 13 of whom are female.

As many as 15 international students from the USA, UK, Nepal, Sri Lanka, Qatar, Germany, and Canada joined through GMAT and CAT. This is the highest number of international students inducted into IIMK for its two-year full-time MBA programmes.

NTA announces new exam dates for UGC-NET, NCET and Joint CSIR UGC NET

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Even though the controversy over paper leaks continues, the National Testing Agency (NTA)) has announced revised dates for conduct of UGC – NET, Joint CSIR – UGC NET and NCET 2024. All three exams will be computer based.

The UGC – NET, cancelled a day after it was held on June 18 following a paper leak, will be conducted afresh from August 21 – September 4. This will be the June exam. There are two UGC – NET exams conducted during the year – one in June and another in December – for assistant professors and junior research fellows.

  • Also read: Opposition insists on discussion on NEET exam scandal, Parliament adjourned for the day

The Joint CSIR – UGC NET – postponed as a pre-emptive measure — will be held from July 25 to July 27; while the previously postponed National Common Entrance Test (NCET) will take place on July 10.

The CSIR UGC – NET is accepted for PhD admissions in Chemical Sciences, Earth, Atmospheric, Ocean and Planetary Sciences, Life Sciences, Mathematical Sciences and Physical Sciences.

The NCET is for a four-year integrated teacher education program. It too was postponed as a pre-emptive measure in view of paper leak allegations.

Opposition puts pressure on government for discussion on NEET exam irregularities in Parliament

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Attempting to corner the government, the Opposition on Friday demanded a discussion on irregularities in the conduct of the NEET-UG medical examination in both Houses of Parliament, with the Leader of the Opposition and Congress MP Rahul Gandhi saying we should send a message to the students that we are with them at this hour of crisis.

Congress MP B Manickam Tagore wrote to the Lok Sabha Secretary-General, giving a notice for suspension of business of the House for discussion of a definite matter of urgent importance on “unprecedented cases of paper leaks in the conduct of exams, including the NEET-UG and UGC-NET, and the failure of the National Testing Agency (NTA)“.

Similar notices were served in the Rajya Sabha by Congress MPs, Dr Syed Naseet Hussain and Ranjeet Ranjan, seeking a discussion on the irregularities in the NEET-UG exam. Other opposition parties also joined in raising the issue.

Before the discussion began at 11 am in Parliament, Rahul Gandhi told the media that the leaders of the INDIA bloc partners had met and decided that the Opposition and the government should come together to send a message from Parliament that all the parties are concerned about students, who are worried about their future.

“We should discuss the issue calmly. Both, the Opposition and ruling alliance should send a common message to students from Parliament,” Gandhi said.

The Chief Ministers of Kerala and Tamil Nadu called for scrapping NEET.

The government is open to a discussion on the exam paper leak, but it wants the Opposition leaders to speak on the issue during the discussion on the presidential debate, Lok Sabha Speaker Om Birla said.

“I have received 22 notices on the NEET paper leak case. The President has already indicated in her speech in paragraph 20 that there would be a fair investigation into irregularities in NEET,” Speaker Om Birla said, and adjourned the house till 12 pm, after Rahul Gandhi sought to press the Opposition demand for a discussion.

  • Also read: 74 students scored centum in NEET UG since inception, 91% of them cleared the exam in 2024

Meanwhile, the Congress general secretary in-charge of communications alleged that the Modi government is offering “patronage” to an Ahmedabad-based exam conducting company, despite it being implicated in several paper leaks, including the infamous UP Police Constable Recruitment Exam that affected 49 lakh candidates.

“The NET and NEET are just the latest examples – the last ten years have seen rampant paper leaks and malfeasance around competitive exams across the country. At last count, 2.26 crore youth across the country have been impacted by these paper leaks,” Ramesh posted on X.

“It’s reflective of the Modi Government’s incompetence, but also of its corruption. An Ahmedabad-based exam conducting company, implicated in several paper leaks, including the infamous UP Police Constable Recruitment Exam that affected 48 lakh candidates, has been receiving repeated patronage from the Modi Government and BJP State Governments across the country. The UP and Bihar Governments have blacklisted the firm, but even as of October 2023, the Modi Government continued giving them contracts, to the tune of 80 crores,” he alleged in his post.

“Why? Because the firm’s proprietor is an ideological and political supporter of the BJP. Pictured here are the एक तिहाई Pradhan Mantri with the accused,” he said.

The Union Education Ministry has already sought a CBI inquiry to carry out a country-wide investigation into the NEET paper leak and other irregularities in the conduct of the exam by the NTA. It has also instituted a high-level inquiry into the functioning of the NTA, given reports of wide-scale compromise of the examination procedure. As of now, the CBI is investigating six such cases and has arrested two persons from Bihar for their alleged involvement in leaking the NEET paper.

Tamil Nadu urges Centre to scrap NEET, passes unanimous resolution

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Tamil Nadu Assembly on Friday unanimously adopted a resolution passed by the Chief Minister urging the Centre to scrap NEET at the national level and exempt the State from using it for medical education.

Moving the resolution, Chief Minister MK Stalin said that the NEET examination system severely affects the medical education opportunities of poor rural students. It makes schooling redundant and deprives state governments of the right to admit students to State Government Medical Colleges, and thus, it should be abolished.

The Tamil Nadu Legislative Assembly unanimously urges that the Centre should immediately provide its assent to the NEET Exemption Bill, which was unanimously passed by this Legislative Assembly, to exempt Tamil Nadu from this examination and to provide medical admissions based on the 12th standard marks obtained by students in school education and considering the repeated irregularities in the NEET examinations, he said.

He said the Union Government should also amend the National Medical Commission Act to abolish the NEET system at the national level.

Motilal Oswal Financial Services signs MoU with IIM Mumbai

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Financial services company Motilal Oswal Financial Services Limited (MOFSL) has signed an MoU with IIM Mumbai to revolutionise financial and capital markets understanding at the campus through research, sustainable learning and development.

IIM Mumbai will deliver customised training programs for MOFSL executives and will participate in joint research and case writing.

  • Also read: Corporate profit to GDP hits 15 year high as input cost moderates

Motilal Oswal, MD & CEO of Motilal Oswal Financial Services Limited, said, “Our strategic partnership with IIM Mumbai is a significant step towards empowering our executives with critical management insights and skills as well as towards contributing to financial inclusion by way of academic intervention.”

Professor Manoj K Tiwari, Director of the Indian Institute of Management, Mumbai, said, “This collaboration will set a new benchmark and set a new standard to establish meaningful and purposeful knowledge sharing and actionable research related to the emerging domain of fintech and tech driven financial management between two like-minded partner”.

Byju’s settles case with Teleperformance

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Embattled edtech Byju’s has settled with France-based Teleperformance Business Services, the Bengaluru Bench of National Company Law Tribunal (NCLT) was told on June 26, a second relief for the company during the day.

The tribunal asked Teleperformance to file a memo saying it wished to withdraw the insolvency plea in view of the settlement for it to close the case.

  • Also read: Prosus writes off $493-m investment in Byju’s
MCA findings

This comes at a time when law enforcement agencies cleared the firm of financial fraud but found certain lapses in corporate government. The investigation by the Ministry of Corporate Affairs has uncovered lapses in Byju’s corporate governance but did not find evidence of financial fraud.

The year-long probe conducted by the Ministry of Corporate Affairs, there was no evidence of activities like fund diversion or financial manipulation. However, the investigation did uncover governance lapses that have contributed to the company’s increasing losses.

In Feburary, NCLT issued notice to Byju’s on an insolvency plea filed by Teleperformance. According to Teleperformace, Byju’s agreed to pay the amount in three tranches — ₹1.5 crore in the first trance, ₹2 crore in the second and ₹2.2 crore in the final tranche.

  • Also read: NCLT directs Byju’s to maintain status quo, freezes funds raised via second rights issue
Other cases against BYJU’S

NCLT issued a notice in an insolvency plea filed by digital marketing firm Surfer Technologies against Byju’s. On February 28, another notice was issued on a plea filed by US-based non-bank loan agency Glas Trust Company LLC to admit the company to insolvency resolution process.

Byju’s is also fighting a legal battle with investors including investors, Prosus, General Atlantic, and Peak XV, which have sought to void a $200-million rights issue initiated in January by appealing to the National Company Law Tribunal (NCLT).

Company law proceedings against Byju’s still underway: MCA 

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Corporate Affairs Ministry (MCA) on Wednesday made it clear that the proceedings initiated by it under the company law against EdTech major Byju’s are still on going and that no final conclusion should be drawn in this matter at this stage.

“There have been recent reports claiming that Byju’s has been cleared of financial fraud in an ongoing investigation by the Ministry of Corporate Affairs (MCA). It is categorically clarified that such reports are factually incorrect and misleading,” MCA said in statement.

This MCA statement came in the wake of a media report on Wednesday stating that MCA has uncovered lapses in Byju’s corporate governance but did not find evidence of financial fraud. 

‘Ivy Leagues seek well-rounded students who excel in many domains’

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In recent years, the trend of Indian youth migrating abroad for higher education has witnessed a significant surge. This phenomenon has been on a steep upward trajectory, with over 7.65 lakh students moving abroad for studies in 2022 alone.

Even before the Covid-19 pandemic, the numbers were already high, with student migration surpassing 500,000 in 2018 and reaching 586,000 in 2019, as per the Bureau of Immigration (BoI) statistics. 

Jamie Beaton, CEO of Crimson Education, explains some of the emerging trends among Indian students migrating for higher studies. Beaton has studied at several prestigious institutions, including Harvard and Stanford Universities, the University of Oxford, Yale Law School, and Princeton University.

His academic focus has encompassed finance, applied mathematics, and business administration, among other fields. His company, Crimson Education, is a university admissions support company with a vision to equalise university admissions across the globe. Excerpts from an interview: 

  • Also read: NEET-PG exam postponed due to integrity concerns; NTA’s DG replaced

What are the current trends among young Indian students applying to Ivy League universities in the USA and the UK?

In the US, top universities such as Harvard have significantly increased their financial aid offerings. This has encouraged students to consider studying in Ivy league colleges or universities. Concurrently, Indian students are increasingly pursuing a broader array of Advanced Placement subjects.  

Moreover, a growing number of Indian students are engaging in rigorous research projects during high school; these initiatives will help them to seek admissions in Ivy League universities. It will help students develop advanced research skills and familiarity with cutting-edge academic work. 

Consequently, top universities are adjusting their admissions strategies, with institutions such as Harvard, Yale, and Princeton admitting fewer students early and waiting to assess the complete applicant pool.

This contrasts with other top 50 universities that are increasingly utilising early decision rounds to admit more students. Following the disruption caused by Covid-19, the SAT has regained prominence in the application process, with high scores continuing to play a crucial role, particularly for Ivy League admissions where average scores for applicants are notably high. 

Could you outline some of the prevailing trends in course selection and among students from India applying to universities in the USA?

In the US, universities like Duke, Vanderbilt, and Stanford are now as competitive as Ivy League institutions, reflecting a trend towards broader university choices.

Similarly, schools such as Johns Hopkins and the University of Chicago are rivalling Ivy League acceptance rates, enhancing their appeal among Indian applicants. There’s also a growing interest in liberal arts colleges.  

In academic disciplines, there’s been a surge in applications for artificial intelligence majors. Programmes on computer science, finance, engineering do have a huge demand. Students from Tier 2 and Tier 3 cities in India, like Coimbatore and Tiruchi, are increasingly gaining admission to top US universities, including Ivy Leagues. 

What is the trend among students applying to study in the top universities in the UK and Australia? 

In the UK, the Russell Group universities such as Oxford, Cambridge, LSE, Imperial, UCL, and King’s College London remain popular among Indian students. Preferred programmes include medical school, law school, and PPE (Philosophy, Politics, and Economics), with UK universities offering specialised degrees appealing to students.

Meanwhile, in Australia, Indian students are primarily applying to leading medical schools like University of Monash, UNSW, and the University of Sydney. 

What are the key criteria for Ivy League admissions that Indian students should focus on? 

Academics hold substantial weight, constituting 40 per cent of the evaluation process. This encompasses performance in rigorous external exams such as school board exams, IB, A-levels, AP, and SAT scores. High achievement in these standardised tests are crucial for admissions.  

Extracurricular activities and leadership are equally vital, accounting for 30 per cent of the admissions criteria. Ivy League institutions seek well-rounded individuals who have demonstrated commitment and excellence across various extracurricular domains throughout grades 9 to 12. 

Additionally, entrepreneurial leadership, such as initiating personal projects or ventures like a podcast with extensive interviews, showcases innovative thinking and initiative beyond academic excellence. 

The remaining 30 per cent of the evaluation process hinges on essays and interviews, where applicants have the opportunity to distinguish themselves on a personal level. Some of the Ivy League institutions also conduct interviews with the alumni of the institution to check if they are the right candidate for the course and universities.  

  • Also read: Rahul Gandhi accuses PM Modi of ‘psychologically’ collapsing as public outcry rises over exam irregularities

Jaro Education announces bonus, dividend

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Jaro Education has declared bonus and dividend to its shareholders.

The Board of Directors of Jaro Education has recommended a bonus in the ratio of 1:3 (one equity share for every three held) shares held by the shareholder.

The board has also announced a dividend of ₹10 per share for the financial year ended March for its eligible shareholders.

Sanjay Salunkhe, CMD, Jaro Education, said the institution will declare its audited results in a couple of weeks and file the DRHP after that.

Jaro Education’s journey is underscored by its sustainable growth trajectory, driven by an increase in partnerships with Tier-I institutions, in India and overseas, as well as geographic expansion, increase in student enrolments, more programs per Institute and fee hikes, per a statement.

Also read: Prosus writes off $493-m investment in Byju’s 

In FY24, the company provided online education to about 28,800 learners for post-graduate degrees and up-skilling courses, it said.

Founded in 2009, Jaro Education provides over 250 management, technology, and techno-functional programs in collaboration with top reputed institutes, including Massachusetts Institute of Technology – Institute for Data, Systems, and Society (MIT IDSS), The Wharton Interactive (an initiative of The Wharton Business School, University of Pennsylvania), Rotman School of Management (University of Toronto), IIM in Ahmedabad, Kozhikode, Mumbai, Indore and Tiruchirappall among others.

As protests grow, CBI gears up for country-wide probe into irregularities in conduct of NEET exam

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The CBI is gearing up to take up comprehensive investigation into country-wide reports of deep-rooted racket in the conduct of National Eligibility-cum-Entrance Test-Undergraduate (NEET-UG) examination 2024, as the students protest intensify seeking accountability of people playing with their future.

  • Also read:NEET-PG exam postponed due to integrity concerns; NTA’s DG replaced

Opposition parties have also said that they will raise the serious issue in the opening session of Parliament after the swearing in of newly elected MPs get over on Tuesday and after both the Houses resume normal business.

The CBI’s multiple teams reached out to Patna in Bihar and in Godhra, Gujarat, to probe into allegations of leak of papers and other irregularities in the NEET exam conducted by the NTA.

There is another case being probed by the local police in Latur, also in Gujarat and three more in Jaipur, Rajasthan, said the CBI sources. The Rajasthan High Court on Monday issued notice to the NTA and the Centre, asking it to respond to petitioners’ demand of cancellation of the NEET exam on similar charges of irregularities in the conduct of the entrance test.

The High Court scheduled the hearing in the matter on July 10, two days after the Supreme Court is set to take up similar petitions, including those seeking cancellation of the NEET-UG 2024 exam and a court-monitored investigation.

Agency sources said it’s in the process of taking ‘comprehensive steps’ after the Union Education Ministry announced on Saturday that it was seeking a CBI probe into the alleged malpractices in the conduct of the NEET-UG examination on May 5 in pen and paper mode. The results of the NTA conducted exam were announced on June 4.

High-level committeee

The Union Education Ministry has also constituted a high-level committee of experts headed by a former chief of the ISRO ‘to ensure transparent, smooth and fair conduct of examinations through National Testing Agency (NTA).’

The central agency will file multiple FIRs on the basis of cases forwarded by respective States or on the orders of courts that want investigations by it since those behind the paper leak and other malpractices in the carrying out examinations across centres appear part of a large design.

The Economic Offence Unit (EOU) of the Patna police, which had been investigating the matter before the Centre ordered a CBI probe, has arrested 18 people in connection with the case. On Sunday, the CBI filed an FIR to probe malpractices in the conduct of the exam.

The EOU officials said they have collected evidence during the course of probe such as pieces of the burnt question paper recovered from a house in Patna, mobile phones of those arrested, SIM cards, laptops, post-dated cheques and reference questions papers provided by the NTA.

A CBI team reached Godhra city in Gujarat’s Panchmahal district on Monday to take over the case registered by the Godhra police on May 8 under various Indian Penal Code sections, including criminal conspiracy, cheating and criminal breach of trust. The police are probing charges against five persons for trying to help 27 candidates clear the NEET exam for a sum of Rs 10 lakh each.

  • Also read:NTA DG Subodh Singh removed amid NEET, NET controversy

So far, the police have arrested those five persons — Tushar Bhatt; principal of a school, Purshottam Sharma; Vadodara-based education consultant Parsuram Roy and his aide Vibhor Anand; and alleged middleman Arif Vohra — in the case registered on May 9.

The CBI is also likely to register disproportionate assets (DA) cases against public servants found to be involved in the nation-wide racket.

TN announce increase in admissions to arts and science colleges in the current academic year

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Tamil Nadu government has announced an increase in admission of students in arts and science colleges in the academic year 2024-2025. This comes in the backdrop of an increase in the pass percentage in Class XII State board examinations, announced State Higher Education Minister K Ponmudy in the Assembly on Monday.

  • Also read:Tamil Nadu seeks adequate budgetary allocation for infrastructure development in the State

The State recorded pass percentage of 94.56 in Class XII State board examinations, which was marginally higher than last year’s 94.03 per cent.

There has been a significant increase in the number of applicants for the arts and science colleges. Accordingly, the admission in government colleges will be increased by 20 per cent in 20224-25; by 15 per cent in government-aided collages and by 10 per cent in self-financing colleges, he said.

The minister also announced establishment of labs in government engineering colleges on latest technologies to enable students get jobs when the pass out.

The State government plans to establish an Internet of Things lab in two government engineering colleges at Karaikudi and Bodinayakanur and establish artificial intelligence and robotics lab in three government engineering colleges at Coimbatore, Salem and Bargur.

An Electric Vehicle technology lab will be established at three government engineering colleges at Tirunelveli, Dharmapuri and Erode. An additive manufacturing lab will be established in three government engineering colleges at Vellore, Thanjavur and Tiruchirapalli,

  • Also read: Oracle partners with Tamil Nadu to empower youth with IT skills

Meanwhile, the Policy Note of the Higher Education Department for 2024-24 placed in the House said introduction of Tamil Pudhalvan monthly stipend scheme of providing ₹1,000 for boys who pass out from government schools to pursue higher education from the current academic year (2024-25).

To provide skills and develop the students as per World skills in Electrical Installation, Industrial Controls, Industrial Automation, Building Automation, World Skill Academy, Smart Manufacturing Centres are being established in six government polytechnic colleges at Chennai, Coimbatore, Dharmapuri, Mayiladuthurai, Tiruchirappalli and Thoothukudi in collaboration with Schneider Electric India Ltd and the financial assistance of Tamil Nadu Skill Development Corporation, Chennai at a cost of ₹10 crore.

NEET-UG row: 5 more held in Bihar for ‘paper leak’, State govt notifies transfer of probe to CBI

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The Bihar government issued a notification on Sunday evening to transfer the case in connection with alleged irregularities in NEET-UG to the CBI, paving the way for the central agency to take over the investigation.

The move came after the Economic Offences Unit (EOU) of Bihar Police arrested five more suspects, who were detained from Deoghar in Jharkhand on Saturday, taking the total number of those apprehended to 18.

Earlier in the day, the CBI filed an FIR over the NEET “paper leak” on a reference from the Union education ministry, amid countrywide protests and litigation by students for a probe into the claims.

  • Also read: NEET row: Govt sets up high-level committee to overhaul exam processes amidst paper leak controversies

The Bihar Home Department, in the notification, accorded its consent to CBI in order to investigate the FIR dated June 5 registered at Shastrinagar Police station in Patna.

“… The case registered under section 407,408,409,120B of the IPC, which relates to irregularities in NEET UG 2024 examination held on May 5. The CBI team is expected to soon visit Patna to take over the investigation of the case. The EOU will hand over all the updated case records to the CBI,” it said.

The EOU, in a statement, said the five arrested persons have been identified as Baldev Kumar, Mukesh Kumar, Panku Kumar, Rajeev Kumar and Paramjeet Singh, all hailing from Nalanda.

Baldev Kumar, associated with the notorious Sanjeev Kumar alias Lutan Mukhiya gang, allegedly received the solved answer sheet of the NEET-UG exam in PDF format on his mobile phone a day before the exam.

  • Also read: NEET-PG exam postponed due to integrity concerns; NTA’s DG replaced

The statement implicated members of the Mukhiya gang, accused of orchestrating multiple interstate paper leaks, as the source of the leaked answer sheet.

Further investigation revealed that Baldev and his associates printed and distributed the solved answer sheet to students gathered at a safe house in Ram Krishna Nagar in Patna on May 4 for memorisation. The aspirants were brought there by two previously arrested persons, Nitish Kumar and Amit Anand.

According to the EOU statement, the leaked NEET-UG question paper was obtained from a private school in Hazaribagh, Jharkhand, by the Mukhiya gang.

Investigators matched a partially burnt question paper recovered from the Patna safe house with the reference question paper provided by the National Testing Agency (NTA), confirming the leak’s origin, it said.

Standard procedures for handling and transporting question papers, as set by the NTA, were also allegedly disregarded by those involved in the breach.

The EOU interrogated several persons linked to the custody chain of the question papers, including bank officials and employees of a courier company.

A manhunt is on to nab Mukhiya and his other gang members, it said.

Rajeev Kumar, Panku Kumar and Paramjeet Singh were arrested for providing duplicate mobile SIMs, phones and accommodation to Baldev Kumar and his associates in Deoghar, the EOU said.

Mukesh Kumar, a taxi driver, was also arrested for facilitating transport for the accused and aspirants within Patna.

The statement said 15 aspirants identified by the NTA were being scrutinised, with four already questioned, while the remainder are yet to appear for examination by investigators.

The EOU had last month arrested 13 people in connection with the case.

The NEET-UG exam, involving around 24 lakh candidates, was conducted by the NTA on May 5, with results announced on June 4, amid subsequent allegations of paper leaks and irregularities across Bihar and other States.

As demands for cancellation of the May 5 exam grow, Union Education Ministry officials reiterated the government’s earlier stand that the incidents of malpractices were “localised” or “isolated” and it was not fair to jeopardise the careers of lakhs of candidates who cleared the exam rightfully.

The exam is conducted by the NTA for admissions to MBBS, BDS, AYUSH and other related courses in government and private institutions across the country.

NEET fiasco: Govt notifies former ISRO chief K Radhakrishnan led panel to reform process of competitive exams

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The Ministry of Education said Saturday it has constituted a high-level committee of experts led by former ISRO chief K Radhakrishnan to ensure transparent, smooth and fair conduct of examinations through the National Testing Agency (NTA).

Also read: NEET aspirants say faith in NTA has been shaken, want re-test option for all candidates to be considered

The seven-member committee will make recommendations on reforms in the mechanism of the examination process, improvement in data security protocols and the structure and functioning of the NTA, the Department of Higher Education in the ministry said.

It added that the committee will submit its report to the ministry within two months.

Central University of Hyderabad Vice-Chancellor Professor BJ Rao and former director of AIIMS Delhi Randeep Guleria are on the panel.

NEET row: Govt sets up high-level committee to overhaul exam processes amidst paper leak controversies

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In the face of criticism, including from the ABVP – the student wing of the RSS – over UGC-NET cancellation and alleged paper leaks in NEET, the Education Ministry on Saturday set up a high-level committee of experts to ensure transparent and fair conduct of such competitive examinations. Reconstituting the apex testing agency will also be carried out.

The seven-member committee, to be headed by former ISRO Chairman, K Radhakrishnan, will submit a report in two months.

The panel was formed hours after the notification of the Public Examinations (Prevention of Unfair Means) Act, 2024, which provides for up to five years’ imprisonment and a fine of up to ₹1 crore for malpractices and organised cheating in exams.”

The Act comes into effect from June 21 thereby bringing those found guilty in the current instances of paper leak and other alleged irregularities, under its ambit.

Also read: 74 students scored centum in NEET UG since inception, 91% of them cleared the exam in 2024

Committee members also include Randeep Guleria, former Director, AIIMS Delhi, and Govind Jaiswal, Joint Secretary, Education Ministry. Jaiswal will be the Member Secretary. There are three other experts from various premier educational institutes that include, BJ Rao, Vice-Chancellor, Central University of Hyderabad; Ramamurthy K, Professor Emeritus, Department of Civil Engineering, IIT Madras, and Aditya Mittal, Dean Student Affairs, IIT Delhi.

Pankaj Bansal, Co-Founder, People Strong and Board Member, Karmayogi Bharat, is the seventh member.

Reforming The Exam Process

According to the terms of reference, the seven-member committee will make recommendations on reforming the examination process, improvement in data security protocols, and re-work on the structure and functioning of the National Testing Agency (NTA).

Incidentally, NTA, which conducts these competitive and other admission exams in the country, has been under-fire over the alleged paper leaks and other irregularities. The concerns have sparked country-wide protests by students, their parents, political party workers and others.

The UGC-NET, an entrance exam for assistant professors and junior research fellows, was cancelled after the paper was leaked on the dark web. Similarly, in the case of NEET, a medical college entrance exam taken by approximately 24 lakh aspirants, there were alleged paper leaks reported from Patna, where arrests have been made. Investigations are also reportedly underway in Deoghar.

The committee will analyse “end-to-end examination process to forestall any possible breach”; conduct a review of the standard operating procedures and protocols of the NTA and also “suggest measures to strengthen these procedures”.

It will also examine existing security protocols related to the paper-setting and other processes for different examinations.

The committee will also recommend re-working the organisational structure and functioning of the NTA. And “clearly define roles and responsibilities of functionaries at every level”, the Ministry document said. Assessment of the current Grievance Redressal Mechanism of the NTA will be carried out for identifying gaps and “enhancing efficiency”.

Congress leader, Jairam Ramesh, took on the BJP-led NDA government at the Centre calling its recent notification of the Public Examinations (Prevention and Unfair Means) Bill as “damage control” and that the core issue of preventing paper leaks remains unaddressed..

“Clearly this is damage control to deal with NEET….and other scams. This law was nedded, But it deals with leaks after they have occurred. More important are laws, systems, processes and procedures to ensure that leaks don’t happen in the first place,” he wrote on social media platform X.

NEET-PG exam postponed due to integrity concerns; NTA’s DG replaced

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The NEET-PG Entrance Examination, which was scheduled to take place tomorrow, June 23, has been postponed. 

The Health Ministry said in a statement that the decision comes amid recent allegations concerning the integrity of several competitive examinations in the country.

The National Board of Examination conducts the entrance exam for medical students.

  • Read: NEET row: Govt sets up high-level committee to overhaul exam processes amidst paper leak controversies

The statement further added that the decision to postpone the examination has been taken as a precautionary measure to maintain the integrity of the NEET-PG Entrance Examination.

“….Ministry of Health has decided to undertake a thorough assessment of the robustness of process of NEET – PG entrance examination, conducted by National Board of Examination for medical students,” the statement said. 

Read more| NTA DG Subodh Singh removed amid NEET, NET controversy

The statement came hours after the Department of Training and Personnel announced that Subodh Kumar Singh, the NTA’s director general, has been replaced by retired Indian Administration Service (IAS) officer Pradeep Singh Kharola.

  • Read: Scandal-hit UGC-NET 2024 saw record high candidates

Kharola is the Chairman and Managing Editor of the India Trade Promotion Organisation. He has been given additional charge as the Director General of the NTA “till the appointment of a regular incumbent or until further orders”. 

IIMA sees rise in female representation and work experience in PGP and PGP-FABM

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The percentage of female students admitted to the Indian Institute of Management Ahmedabad (IIMA) is on the rise. On Thursday, the institute welcomed the 61st batch of the two-year full-time Postgraduate Programme in Management (PGP), comprising 404 meritorious students, of whome one-fourth are females.

“Out of 404 meritorious students from a diverse educational, professional, socio- economic and gender backgrounds in the PGP Class of 2024-26, about 25 percent are women students, as compared to about 23 percent last year,” IIMA stated in a release. 

About 39 per cent of this batch comprises students from non-engineering disciplines and 61 per cent from engineering. The new batch of PGP consists of 29 per cent freshers and about 71 per cent experienced candidates having a range of skills and work experience in sectors such as Consulting, Banking and Financial Services, Public Sector Units, Pharmaceuticals/Healthcare, Information Technology, etc.

Of the new 25th batch of the two-year full-time Post-Graduate Programme in Food and Agribusiness Management (PGP-FABM) who stepped into IIMA, 36 per cent are female students. All 47 students are hailing from food and agribusiness backgrounds. 

While the average age of students remains 23 in both the programmes, the average work experience has increased to 26 months in PGP and 27 months in PGP-FABM programmes compared to 21 months and 19 months, respectively, during the previous year, the release added.

UGC-NET 2024: Scandal-hit UGC-NET exam saw record high candidates

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The 2024 University Grants Commission’s National Eligibility Test (UGC-NET), which was cancelled earlier this week due to integrity issues, saw record-high candidates write the exam.

  • Also read: A high-level committee formed to overhaul NTA: Dharmendra Pradhan

Conducted by the National Testing Agency (NTA), UGC-NET is the test for Junior Research Fellowship, appointment as Assistant Professors and admission to PhD degree courses. Official data shows that 9.08 lakh candidates appeared for the exam, representing a 30.6 per cent growth in the number of candidates appearing for the entrance test in comparison to last entrance cycle.

The entrance test was cancelled a day after students appeared for the exam. The Ministry of Education took this action following inputs from the Central government indicating that the entrance test paper had been leaked before the exam.

NTA as the nodal agency conducts entrance tests twice a year on behalf of the UGC for two positions. The results determine whether a student is qualified to teach as an assistant professor in a UGC-recognized Indian university, and identifies a qualified scholar who can receive a monthly stipend under the Junior Research Fellowship (JRF) for the period of two years during PhD program.

  • Also read: UGC-NET 2024: Scrapping leaves students disappointed

Data from the UGC website suggests that despite the large number of people appearing for the entrance test, only a small percentage manage to clear the cut-off marks and this has remained same over the years. In the June 2023 cycle, out of 4.6 lakh students who appeared, only seven per cent cleared the assistant professorship exam, and 1.1 per cent cleared the JRF exam. Similarly, in the December 2023 cycle, a record 6.9 lakh people appeared, with around 7.7 per cent clearing the assistant professorship exam and 0.7 per cent qualifying for the JRF exam.

Afroz Alam, head of the Department of Political Science at the Maulana Azad National Urdu University, said, “There are various factors for the rise in the number of applicants, such as increasing student enrolment ratio, more students pursuing post-graduation, and establishment of new universities. Consequently, students who complete their postgraduate studies often apply for the UGC-NET by default to advance their professional aspirations in academia.”

The UGC-NET entrance examination has witnessed a substantial difference between the number of people registering for the exam and those who actually appear for it. In the June 2024 cycle, 11.2 lakh individuals registered for the examination, yet 2.1 lakh of them did not appear. A similar trend was observed in the December 2023 cycle, where 9.4 lakh people registered, but 2.4 lakh did not take the test.

Data also shows that the entrance fees for the exam has been steadily rising across categories. For the General category, it was ₹450 in 2014, which increased to ₹1,000 in 2017, and was then hiked to ₹1,150 in 2023. For the Other Backward Class (OBC), it was ₹225 in 2014, increased to ₹500 in 2017, and is ₹600 in 2023. For Scheduled Castes, Scheduled Tribes, and others, the fee was ₹110 in 2014, increased to ₹250 in 2017, and further rose to ₹325 in 2023.

“It is a cause of concern that despite the examination being conducted on the OMR sheet, the fees have not been reduced. Until last year, the examination used to take place only on computers,” Jawaharlal Nehru University Students Union President Dhananjay said.

“We protested yesterday in front of the Ministry of Education premises, and we are continuing our protest today on campus, too against the controversy,” he added.

The paper leak and subsequent cancellation of the exam has resulted in widespread hardship for the candidates as it involves significant time and cost of commuting to the test centre.

The stipends for JRF have also not kept pace with inflation. Since January 2023, JRFs have been entitled to a stipend of ₹37,000 and this represents a Compound Annual Growth Rate (CAGR) of 9.05 per cent over a 13-year period from 2010.

“The fellowship that JRF scholars receive is very minimal, especially considering that research costs in India are increasing. If the fellowship does not provide adequate support, it can negatively impact the quality of research conducted by scholars,” added Alam.

Dhananjay said, “Scholars who qualify for the JRF often do not receive their stipend on time, which can take 2-3 months. Additionally, the registration process for JRF in respective universities is a lengthy bureaucratic process that affects students opting for PhD programs in universities.”

A high-level committee formed to overhaul NTA: Dharmendra Pradhan

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Under fire from all quarters over alleged paper leaks leading to the cancellation of the UGC-NET 2024 examination and other malpractices identified during the conduct of NEET, the education Ministry has ordered the setting up of a high-level committee aimed at re-looking into the working of the National Testing Agency (NTA), the apex body that carries out such competitive-level exams in the country. 

The two exams — the UGC-NET for assistant professors and junior fellow researchers and the NEET for medical aspirants — affect 35 lakh students in the country.

The committee will re-look at the working of the agency, identify shortcomings, come up with suggestions to plug them. It will also suggest “holistic ways” to conduct such pan-India tests.

According to Dharmendra Pradhan, Union Education Minister, the committee will consist of academicians, educators, social scientists, technocrats, and psychologists, among others. 

“A notification regarding the constitution of this committee, its objectives, and other requirements will be put up in the public domain soon. The committee will examine the workings of the NTA, identify gaps, and make suggestions, which will then be taken up to overhaul the testing agency and this system of conducting the exams,” he said on Thursday. 

Calling the instances of paper leaks unfortunate, Pradhan said, “This was an institutional failure” of the NTA. He did mention that some of the allegations were “isolated” and restricted to specific geographical regions, rather than being a pan-India phenomenon. 

“Probes are on. And action will be taken against anyone proved guilty. It does not matter whether the guilty is an NTA official or anyone else,” the Minister said. 

UGC NET paper leak 

The UGC NET was cancelled on Wednesday, a day after the examination was held, over suspicion of a paper leak.

According to Pradhan, the examination was cancelled on the basis of input received from the Indian Cyber Crime Coordination Centre, which stated that the paper was being circulated on the dark web and through some select messaging channels. 

“On receiving the inputs, we cross-checked the matter. We saw questions circulated on the dark web that were similar to the questions in the UGC NET paper. Hence, a conscious call was taken to cancel the exam in the best interest of students,” he said. 

“The matter has been handed over to the CBI. A fresh examination shall be conducted, for which information will be shared soon,” a senior Ministry official said earlier in the day. 

Pradhan added that a shift was made from computer-driven testing to OMR (pen and paper) based on inputs received from various stakeholders and in order to “improve experience.”

NEET irregularities 

Incidentally, the Education Ministry and the NTA are already under fire over alleged irregularities in the conduct of the NEET exams. A whopping 24 lakh students took the exam. 

Reports of irregularities — the award of grace marks, allegations of a paper leak, etc. — have now prompted nationwide protests and triggered demands for a re-test.

Previously, the Education Ministry had decided to scrap the grace marks awarded and hold a retest for 1,563 students. 

However, subsequently, allegations of paper leaks have surfaced in Bihar. And a probe into it is being conducted by the Economic Offences Wing of the Bihar Police. 

Arrests have also been made in connection with the alleged leaks, which include students as well as the alleged mastermind. 

“We are awaiting further details and a complete investigation report from the Bihar police. We will take action accordingly. The probe is going on and progressing well. The truth will come out soon,” Pradhan said. 

The Minister reiterated that the paper leak was restricted to a specific region. Other instances have not surfaced as of yet. 

In general, different State governments have been grappling with issues of paper leaks and cheating in exams, which has called for stricter laws in this regard. 

“We accept moral responsibilities for the students paper leaks and will take corrective action in this regard,” Pradhan said.

Congress’ Rahul Gandhi accuses PM Modi of ‘psychologically’ collapsing as public outcry rises over exam irregularities

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Mounting pressure on the government to fix accountability on irregularities in UGC-NET and the NEET medical entrance exams owing to growing public outcry across the country, Congress leader Rahul Gandhi on Thursday said Prime Minister Narendra Modi has “psychologically collapsed” post-elections and was merely focused on getting his leader appointed as Lok Sabha Speaker ahead of parliament session.

  • Also read: UGC-NET 2024: Scrapping leaves students disappointed

At a press conference, Rahul Gandhi charged,”…It’s happening because all our institutions have been captured. Our Vice-Chancellors are placed not based on merit. But because they belong to a particular organization. And this organization and the BJP have penetrated our education system and destroyed it. What was done by Narendra Modi to the economy with demonetization, has now been done to the education system”.

“The reason this is happening and the reason you’re suffering is because an independent, objective education system has been demolished…It is very important that the people who are guilty here are brought to book and they are punished,” he told reporters

The government has only cancelled the UGC-NET exam so far.

  • Also read: 74 students scored centum in NEET UG since inception, 91% of them cleared the exam in 2024

Hitting back at the Congress, the BJP national spokesperson Sudhanshu Trivedi accused the opposition party of indulging in petty politics over the alleged NEET recruitment process irregularities and insisted that the Central government was looking into the matter “very sensitively” to ensure that justice is done to every candidate.

“The government is fully sensitive and alert with regard to the NEET exam. It is also committed to ensure that no student faces any injustice and strict action is taken against those involved (in the paper leak),” Trivedi said while describing Rahul Gandhi’s remarks as “sad”.

“But the opposition leader, Rahul Gandhi, who could not pass even with third division in his third attempt and got just 100 seats (in Lok Sabha polls) is trying to declare himself leader of the bright students,” he charged.

Describing it as a national, economic and educational crisis, the former Congress president said, the government is silent because PM Modi is “crippled” now.

“Right now, the PM’s main agenda is the (election of) Speaker. He is bothered about his govt and Speaker…The PM has psychologically collapsed and he will struggle to run a government like this. Modi’s idea of running govt is to generate fear in people. But now people are not scared of him. The basic concept of Modi has been destroyed in this election. If there were Vajpayee ji or Manmohan Singh ji, they might have been able to survive because they had humility, respect and conciliation. But Narendra Modi doesn’t believe in all this….,” he alleged.

On giving clean chit to the NTA, which conducted the NEET exam, by Union Education Minister Dharmendra Pradhan, Rahul said, they have no credibility in these matters. “If they give clean chit, it means nothing, their credibility is zero. Everybody knows that the epicentres are BJP-ruled states of Madhya Pradesh, Gujarat and Uttar Pradesh…,” he charged. The Vyapam recruitment exam started in Madhya Pradesh, he pointed out.

Children’s MF schemes asset rise to ₹20,081 crore

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Assets under Management (AUM) of children’s mutual fund more than doubled in the last five years to touch ₹20,081 crore last month against ₹8,286 crore in May, 2019.

On a year-on-year basis, the AUM increased 31 per cent from ₹15,375 crore in May, 2023, according to ICRA Analytics.

  • Also read: Why this dividend yield fund may suit investors seeking lower volatility

Interestingly, the children’s MF has witnessed a category average CAGR returns of 23 per cent and 15 per cent over a one and three-year period respectively, said ICRA Analytics.

The returns are significantly higher than SBI fixed deposit of 6.80 per cent and 6.75 per cent paid in the same period.

Ashwini Kumar, Senior Vice President, ICRA Analytics said the surge in education inflation, which is estimated at close to 11-12 per cent (almost twice the country’s inflation rate), is encouraging an increasingly large number of parents to look for suitable investment avenues to fund their children’s education.

The attractive rate of returns coupled with the growing awareness among parents on mutual fund investments is contributing to a surge in AUM of these funds, he added.

Children’s MFs come with a lock in period of 5-years or more to inculcate a disciplined investing and savings habit for investors and discourages withdrawals.

  • Also read: Three key MF inflow trends in May 2024

The exposure to both equity and debt results in diversification which helps to mitigate risk that arises out of individual stock pricing and helps maximise returns. Moreover, the ownership of the investment can be easily transferred once the child becomes a major and reaches adulthood.

The net flows into children’s mutual fund witnessed a growth of 28 per cent and doubled over one and three year period.

There are about eight children’s mutual funds with HDFC Children’s Gift Fund accounting for nearly 52 per cent of the total AUM of ₹9,019 crore as of May-end.

The growth momentum in children’s MFs to sustain moving forward backed by improved risk appetite among investors due to upbeat growth prospects of the domestic economy, Kumar added.

Centre scraps UGC-NET 2024, plans for fresh examination

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The Centre on Wednesday said it had scrapped the UGC-NET 2024 exam held on June 18 after it was indicated prima facie “that the integrity of the aforesaid examination may have been compromised”.

The matter will now be handed over to the Central Bureau of Investigation (CBI)..  

Over 9 lakh candidates appeared for the exam, which is held for Assistant Professor posts in universities and colleges, and to determine eligibility for junior research fellowships. 

In a statement, the Education Ministry said the June exam of the University Grants Commission-National Eligibility Test (UGC-NET) was conducted on Tuesday in OMR (pen and paper) mode in two shifts across different cities of the country.

  • Read: NEET-UG exam row: Apex court says any negligence should be thoroughly dealt with

However on June 19, the University Grants Commission (UGC) received certain inputs from National Cyber Crime Threat Analytics Unit of Indian Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs on the Examination, indicating that the integrity of the examination “may have been compromised”. 

A fresh date for the examinations will be announced later. 

The UGC-NET is conducted twice every year, in June and December. 

“To ensure the highest level of transparency and sanctity of the examination process, the Ministry of Education, Government of India has decided that the UGC-NET June 2024 Examination be cancelled. A fresh examination shall be conducted, for which information shall be shared separately. Simultaneously, the matter is being handed over to the Central Bureau of Investigation for thorough investigation in the matter,” a statement by the Ministry of Education said. 

Veranda Learning targets ₹600 crore revenue through institutional partnerships

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Veranda Learning Solutions signed a Memorandum of Understanding with Sri Krishna Arts and Science College in Coimbatore to offer a B.Com course with ACCA accreditation. This move is part of Veranda’s broader strategy to generate ₹600 crore in revenue over the next five years through institutional partnerships.

The company informed that currently it collaborates with over 350 institutions, including Vellore Institute of Technology, SRM Institute of Science and Technology, and Amrita University. The company’s educational programs aim to cater to both fresh graduates and professionals seeking career advancement. The new B.Com-ACCA course is designed to offer students exemptions from ACCA coursework exams, expediting their professional certification.

  • Also read: We will continue to explore new acquisitions, says Veranda Learning’s Suresh Kalpathi

Suresh Kalpathi, Executive Director and Chairman of Veranda Learning Solutions, said, “At Veranda, our mission is to transform the educational landscape. We work closely with reputed institutions to offer integration of their degree programs with industry-relevant specialisation and/or professional qualification to make these students readily employable and productive right out of college. We expect to train over 3 lakh students through these partnerships over the next 5 years while generating revenues of about 600 crores.”

The shares were down by 1.25 per cent to ₹170 on the BSE.

NEET-UG exam row: Apex court says any negligence should be thoroughly dealt with

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The Supreme Court on Tuesday said that even if there was “0.001 per cent negligence” on the part of anyone in the conduct of the NEET-UG 2024 examination, it should be thoroughly dealt with.

Observing that students have to labour hard while preparing for these examinations, the apex court said the litigation pertaining to the National Eligibility-cum-Entrance Test (Undergraduate)-2024 examination ought not be treated as adversarial.

“Even if there is 0.001 per cent negligence on the part of anyone, it should be thoroughly dealt with,” a vacation bench of Justices Vikram Nath and SVN Bhatti told the advocates appearing for the Centre and the National Testing Agency (NTA). The NTA conducts the all-India pre-medical entrance test.

‘Stand firm’

The bench was hearing two separate petitions raising grievances, including on grace marks given to students in the examination held on May 5. “We all know the labour which the children undergo, especially in preparing for these exams,” the bench said, adding, “Imagine a person who has played fraud on the system becomes a doctor, he is more deleterious to the society”.

“Representing an agency which is responsible for conducting the examination, you must stand firm. If there is a mistake, yes this is a mistake and this is the action we are going to take. At least that inspires confidence in your performance,” the bench told the NTA’s counsel.

  • NEET grace marks nixed, re-test option for 1,563 students: Govt

Stressing on timely action by the authority, the top court said the pleas would come up for hearing on July 8 along with other pending petitions, including those that have sought a direction to conduct the exam afresh. It said the NTA and the Centre would file their responses on these fresh petitions within two weeks.

When one of the advocates appearing for some petitioners raised the issue pertaining to a question asked in the exam, the bench said, “They (NTA and Centre) will respond to it”. “Let us understand the purpose of your submissions. In these matters, we are prepared to sit up to evening,” it said.

While hearing separate petitions raising grievances over the NEET-UG 2024, the apex court had last week sought responses from the Centre and the NTA on a plea for a CBI probe into allegations of question paper leak and other irregularities in the exam.

The Centre and the NTA had on June 13 told the top court that they had cancelled the grace marks given to 1,563 candidates who took the examination for admission to MBBS and other such courses.

They will have the option to either take a retest or forgo the compensatory marks awarded to them for the loss of time, the Centre had said.

NEET exam: Action will be taken if anyone found guilty, says Pradhan

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Union Education Minister Dharmendra Pradhan said the government would take strong actions against functionaries of the National Testing Agency (NTA) if they were found to be involved in irregularities in the conduct of the National Eligibility cum Entrance Test (NEET), 2024.

Pradhan made this statement during his visit to Sambalpur in Odisha on Sunday. He said two types of irregularities in the conduct of NEET have come to the limelight.

As per preliminary information, grace marks have been awarded to some students as they were dissatisfied as they were allotted less time than the prescribed duration, he said.

The government has disapproved the grace marks, and directed re-examination for 1,563 students as per the Supreme Court order, the education minister said.

“Additional wrongdoings have also come to the fore in two locations. I assure both students and parents that the government has taken the issue very seriously. We will take it to a logical end,” he said.

If any officials including senior functionaries of NTA are found guilty, they will not be spared and strong action will be taken against them, he said.

Also read: 74 students scored centum in NEET UG since inception, 91% of them cleared the exam in 2024

The union education minister also advocated for reforms in the NTA.

“A lot of reforms are required in NTA’s functioning though it is an autonomous institution. The government is concerned about this. I want to reassure that no culprit will be spared, strict action will be taken against them,” he added.

The NEET-UG examination, which is the gateway for admission to undergraduate-level medical courses in India, was conducted on May 5 at 4,750 centres across 571 cities in India. The results were declared on June 4.

After the results were declared, parents and teachers began questioning the grace marks awarded to 1,563 students.

‘Bharat’, ‘India’ to be used interchangeably in textbooks, debate over it useless: NCERT Chief

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“Bharat” and “India” will be used interchangeably in NCERT textbooks as is the case in the country’s Constitution, National Council of Educational Research and Training Director Dinesh Prasad Saklani has said.

The comments assume significance in the wake of a high-level panel working on the social science curriculum recommending that “India” should be replaced with “Bharat” in school textbooks for all classes.

In an interaction with PTI editors at the agency’s headquarters here, the NCERT chief said both the words will be used in the books and the council has no aversion to either “Bharat” or “India”.

“It is interchangeable….our position is what our Constitution says and we uphold that. We can use Bharat, we can use India, what is the problem? We are not in that debate. Wherever it suits we will use India, wherever it suits we will use Bharat. We have no aversion to either India or Bharat,” he said.

“You can see both being used in our textbooks already and that will continue in new textbooks. This is a useless debate,” Saklani said.

  • Also read: Education Ministry asks NCERT to review, update textbooks on yearly basis

A high-level committee for social sciences, constituted by the NCERT to revise the school curriculum, had last year recommended that “India” should be replaced with “Bharat” in the textbooks for all classes.

Committee chairperson C I Isaac, who was heading the panel, had said they have suggested replacing the name “India” with “Bharat” in the textbooks, introducing “classical history”, instead of “ancient history” in the curriculum, and including the Indian Knowledge System (IKS) in the syllabus for all subjects.

“The committee has unanimously recommended that the name Bharat should be used in the textbooks for students across classes. Bharat is an age-old name. The name Bharat has been used in ancient texts, such as Vishnu Purana, which is 7,000 years old,” Isaac had told PTI.

The NCERT had then said that no decision has been taken on panel’s recommendations.

The name Bharat first appeared officially last year when the government sent out G20 invites in the name of “President of Bharat”, instead of “President of India”.

Later, the nameplate of Prime Minister Narendra Modi during the summit in New Delhi also read “Bharat”, instead of India.

Technopark firm Guidehouse renovates Sainik School library, computer lab 

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Management, technology, and risk consulting services provider Guidehouse — operating from Technopark, Thiruvananthapuram — has sponsored the upgradation of the computer lab and library at Sainik School, Thiruvananthapuram.

This is aimed at helping the school raise its quality of education, a company spokesman said. The company has also provided the school 25 PCs and computer chairs as part of the initiative, for which it spent ₹16.77 lakh as part of its corporate social responsibility programme.

Debbi Ricci, Chief Financial Officer; Lori Carter, Director, Payroll; Marylyn Shinaberry, Partner; and Christy Jones, Director–Procurements, Guidehouse, together inaugurated the modernised computer lab. Among those in attendance were Mahendra Singh Rawat, Partner and Country Head, Guidehouse India; Saji Zacharia and Unni Krishnan, local officials. 

Guidehouse plans to support more such initiatives in the future, the spokesman said. 

NEET Issue: Decision on 1,563 candidates taken as per students’ conformity, says Union Minister Giriraj Singh

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Expressing his views on the National Eligibility-cum-Entrance Test (NEET) undergraduate exam issue, Union Minister Giriraj Singh said that the decision on 1,563 candidates who got “grace marks” has been taken as per the students’ conformity.

Union Minister Giriraj Singh said, “Education Minister Dharmendra Pradhan held cordial talks with representatives of students and parents. The decision on almost 1,563 candidates has been taken as per the students’ conformity, I hope that Dharmendra Pradhan will work very seriously on this matter.”

Earlier, Union Education Minister Dharmendra Pradhan assured students that a transparent process will be followed and they should not worry.

“The government assures the students that full transparency will be adopted in the probe into alleged irregularities and re-conducting the NEET exams. The students do not need to worry,” Pradhan said while speaking to ANI.

“Students who wanted to meet us, I called them, their parents also came, I met them. I heard their side and I made them feel better. The government is committed, and all students should have this assurance that a transparent process will be followed. 24 lakh students were the applicants, and 23.30 lakh students have taken the exam, this is natural, whatever doubts come to their minds, some issues came to mind that some irregularities in the centre were noticed, due to lack of time for grace marks, some objections were raised in the formula used for giving grace marks, that was also rectified”, he added.

  • Also read: NEET grace marks nixed, re-test option for 1,563 students: Govt

Pradhan further stated, “The Supreme Court permitted them to take the exam again, they have been informed. Those who want to take the exam can take the exam there as well”.

However, the education minister ruled out the possibility of any irregularities in the NEET-UG examination, stating that there has been “no paper leak” in the NEET-UG paper and the government is ready to give answers to the Supreme Court which is hearing the petitions related to the exam.

  • Also read: NEET-UG Exam Results 2024: 74 students scored centum

“I want to assure the students and their parents that the Government of India and NTA are committed to providing justice to them. Twenty-four lakh students have successfully taken the NEET examination. There is no paper leak, no proof has been found yet. A court-recommended model was adopted for around 1560 students and a panel of academicians has been formed for the same…We will accept the verdict of the Court,” he said.

Meanwhile, the National Testing Agency (NTA) told the Supreme Court that the scorecards of 1563 candidates who got “grace marks” in the 2024 National Eligibility-cum-Entrance Test (undergraduate) exam will be cancelled and the candidates will have a chance to reappear for the exam.

NEET-UG Exam Results 2024: 1563 candidates grace marks revoked

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The Centre on Thursday told the Supreme Court that the decision to give grace marks to 1,563 NEET-UG, 2024 candidates for admission to MBBS, BDS, and other courses has been cancelled. They will be given an option to take a retest on June 23.

The counsel for the Centre and the National Testing Agency (NTA) told a vacation bench of justices Vikram Nath and Sandeep Mehta that students who were given grace marks would be given the option to retest.

The court said the counselling process for admissions will not be continued.

If the 1,563 candidates do not wish to take the retest, their earlier marks, sans the grace marks, will be used to calculate the results.

The retest results will be declared on June 30, and the centre said counselling for admission in the MBBS, BDS, and other courses will start on July 6.

Taking note of the submissions, the bench said all the pleas, including the one filed by Alakh Pandey, the chief executive of EdTech firm Physics Wallah over the award of grace marks, will be taken up for hearing on July 8.

They also include the petitions seeking to cancel NEET-UG, 2024, on account of an allegation of question paper leaks and other malpractices.

The NTA held the examination on May 5 across 4,750 centres, and around 24 lakh candidates took it. The results were expected to be declared on June 14 but were announced on June 4, apparently because the evaluation of the answer sheets was completed earlier.

The allegations, such as the leak of question papers and the grant of grace marks to over 1,500 medical aspirants, have led to protests and the filing of cases in seven high courts and the Supreme Court.

As many as 67 students scored a perfect 720, unprecedented in the NTA’s history, with six from a centre in Haryana’s Faridabad figuring in the list, raising suspicions about irregularities.

Scores of students protested in Delhi on June 10, seeking a probe into alleged irregularities. Grace marks, it has been alleged, contributed to 67 students sharing the top rank.

The NTA conducts the NEET-UG examination for admissions to MBBS, BDS, AYUSH, and other courses related to government and private institutions across the country.

NEET grace marks nixed, re-test option for 1,563 students: Govt

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The scorecards of 1,563 NEET-UG 2024 candidates who were given grace marks for time lost in the examination will be scrapped, the Centre told the Supreme Court on Thursday. The students can opt for a re-test on June 23, and the results will be declared on June 30. If these candidates do not take the re-test, their earlier score will be considered the result, without the grace marks.

Education Minister Dharmendra Pradhan, who welcomed the Supreme Court’s order to withdraw grace marks and carry out a re-test for select students, said that there was no evidence of any question paper leak.

“For those who appear for a re-test, the May 5 (earlier) scores will be discarded,” the Court said. The Supreme Court has not put a halt on the counselling process for NEET-UG 2024.

This year, 24 lakh students took the NEET, out of which around 13 lakh qualified.

“The grace/compensatory marks awarded to 1,563 students stand withdrawn. A retest will be held on June 23,” the National Testing Agency (NTA), which carries out the NEET, said in a post on social media platform, X. The agency further said it will “shortly” reach out to these candidates via email so that they receive “official communication.”

  • Also read: NEET-UG entrance exam: 67 candidates secure the top rank this year
WIDESPREAD DISSATISFACTION

The Centre’s decision follows allegations of irregularities and unfair marking in the nationwide medical entrance exams, resulting in widespread protests.

Post-results coming out on June 4, it was found that a high number (67) of students scored 720 out of 720, thereby securing the top spot nationwide. This, many said, was impossible. In fact, many of the toppers were from one particular centre only, which further fanned the concerns.

Subsequently, Alakh Pandey, the CEO of education technology firm Physics Wallah, filed a petition regarding irregularities in NEET-UG 2024. Other petitions alleging paper leaks and irregularities in awarding grace marks, among others, were also filed.

“The respondent NTA may proceed for holding the re-test….” the court order read.

Hearings on other petitions, such as the paper leak, will continue.

NO PAPER LEAK

According to the Education Minister, there is no concrete evidence of any paper leak. Rather, awarding grace marks led to a 100 per cent score for some.

“There is no evidence of a paper leak. These are allegations, and we are ready to give answers in Court,” he said.

Explaining the process, Pradhan said there are two question sheets for the NEET. On the day of the exam, it is announced whether question sheet A or B will be used. In six centres (with these 1,563 students), the wrong set of questions were given. When the matter was noticed, the correct question paper set was given. This led to time loss.

“There is a standing order of the Supreme Court that if such issues are raised in entrance exams, instead of giving a re-exam, an average marking can be done. The NTA followed it. Post this, some students got 100 per cent marks,” he said.

Pradhan, who took charge as Education Minister on Thursday, said the NTA was a highly competent authority. “There is no corruption. This environment (of distrust) has been created over the past few days . The Centre has taken up seriously the specific instances that have come to light. Action will be taken against those found guilty.”

TRUST FACTOR

Physics Wallah’s Pandey said there was a trust issue now with the testing agency. “The question is if NTA has other discrepancies that we are unaware of. So, there is a trust issue now,” he told media.

A political slugfest has also broken out.

Congress President Mallikarjun Kharge, in a post on social media platform X, said that the future of 24 lakh students appearing in the NEET examination is at stake. “A nexus of exam centres and coaching centres has been formed, where the game of ‘pay money, get paper’ is being played,” he wrote.

NCLT directs Byju’s to maintain status quo, freezes funds raised via second rights issue

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The Bengaluru bench of the National Company Law Tribunal (NCLT) has directed the embattled edtech major Byju’s to maintain status quo with regard to existing shareholders and their shareholding.

“Status quo with regard to existing shareholders and their shareholding shall be maintained till the disposal of the main petition,” the order that was made available on June 13 said.

The order restrained Byju’s from using the proceeds of the second rights issue, which, according to the investors, commenced on May 13 and was to end on June 13 and, the same is to be deposited in a separate account till the disposal of the main petition.

“The respondents are further directed to keep the amounts collected so far since opening of the second rights issue in relation to this offer in a separate account which should not be utilised till the disposal of the main petition,” the NCLT order read.

The tribunal directed Byju’s to file the complete details of the escrow bank accounts concerned from the opening of the rights issue on January 29 till date, within 10 days from June 12.

Further, Byju’s must file the complete details of the allotment made on March 2 before the increase of authorised share capital. This must include information such as the name of the shareholder, equity shares held on January 27, entitlement as per rights offer and equity shares allotted on March 23; and also equity shares allotted after the increase in authorised share capital, the order noted.

The order was passed with regard to an ‘oppression and mismanagement’ application filed by the investors of the company such as Peak XV Partners, General Atlantic, Chan-Zuckerberg Initiative and Prosus.

The case is now expected to come up for hearing on July 4.

Perviously, on Feburary 27, the tribunal had directed Byju’s not to allot shares to investors participating in the rights issue without increasing its authorised share capital. The company was also asked to keep the proceeds of the rights issue in an escrow account to protect investors’ rights.

Veranda Learning Solutions reports net loss of ₹39 crore despite revenue doubling

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Despite revenue more than doubling, Veranda Learning Solutions Limited, the Chennai-based education services solutions provider, reported a net loss of ₹39 crore in the fourth quarter ended March 31, 2024.

It was the same in the same quarter last year. Revenue increased to ₹103 crore (₹48 crore). The net loss was mainly due to higher finance cost.

The financial cost for the quarter includes a non-recurring cash expense of ₹10 crores towards pre-closure charges of existing loans; ₹8 crores (₹15 crores for FY24 ) of non-cash expenses pertaining to unwinding of acquisition related liabilities and ₹7 crores (₹10 crores for FY24 ) due to acceleration of processing charges of the loans prepaid, according to a release.

  • Also read: Veranda Learning Solutions partners with Karnataka govt to upskill govt college students

Advertising and business promotion expenses for Q4’24 & FY24 stood at ₹13 crores and ₹49 crores respectively.

For FY24, the net loss was ₹76 crore (₹79 crore) while revenue more than doubled to ₹362 crore ₹161 crore).

In the current year, the company has seen an increase in finance and depreciation costs due to accounting adjustments pertaining to the acquisitions completed.

  • Also read: Veranda Learning announces allotment of equity shares at ₹307 per share

The depreciation costs include a non-cash expense of ₹36.38 crores arising due to the amortization of intangible assets acquired.

The finance cost includes a non-cash expense of ₹14.63 crores arising due to unwinding of acquisition related liabilities and a non-cash expense of ₹9.92 crores due to acceleration of processing charges of the loans prepaid . The finance cost also includes a non-recurring cost of ₹10.25 crores due to prepayment of existing loans.

The total number of students trained by the Veranda Group for FY24 stood at 6,93,874 with 1,36,194 students trained during this quarter, the release said.

  • Also read: Veranda Group raises ₹425 crore NCD from BPEA Credit

In FY24, the company not only saw its operating revenues double to surpass ₹360 crores but also achieved a positive EBITDA for the first time.

“This is a testament to our team’s dedication. This has been driven by strategic consolidation of high-quality brands into our portfolio, significantly enhancing our market presence and performance,” he said..

  • Also read: Veranda Learning Solutions reports loss in Q3

“As we set our sights on FY25, we anticipate maintaining this momentum to achieve revenues exceeding ₹550 crores with an ambitious EBITDA margin of 25 per cent,” he said.

The company’s share price on the NSE closed at ₹173, down by 1.56 per cent.

Adda247 reports 88% growth in revenue, 66% decline in losses in FY24

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Google-backed edtech platform, Adda247 has recorded a jump of 88 per cent year-on-year (y-o-y) in revenue to ₹243.39 crore in FY24 from ₹129.65 crore in the previous fiscal year. The company reportedly also reduced its net loss by 66 per cent to ₹101 crore, down from ₹296 crore in FY23.

Adda247 attributed this growth to the already existing verticals across government job exams, UPSC and the newly introduced K13 verticals (CUET, NEET & JEE) that contributed around 15 per cent to the total revenue. The company expects continued robust growth this year and is upbeat about the recently announced expansion into skilling, up-skilling, and higher education sectors with the appointment of Bimaljeet Singh Bhasin as CEO for the categories.

  • Also read: NCLT issues fresh notices to Byju’s over unpaid vendor dues; next hearing on July 3

Anil Nagar, Founder and CEO of Adda247, said, “Adda247’s exceptional financial results and strategic advancements in FY 2024 are a testament to our unwavering commitment to innovation and user-centric approaches. Sustainable growth has always been our key focus, and we are especially enthusiastic about our recent expansion into the skilling and higher education sectors.”

The company’s active user base has reached 40 million and has two million students enrolled in its premium courses, driven by targeted vernacular strategies in key regions and languages. Paid subscribers in FY24 grew by over 60 per cent, with predominantly organic growth and marketing costs around 4 per cent of revenue.

The multilingual learning platform offers online preparation courses for over 500 examinations, including CUET, IIT JEE, NEET, UPSC, and various government job exams like Banking, SSC, Teaching, and Defence. The company’s revenue is primarily generated from its app-based offerings, encompassing paid video courses, live classes, and educational books. It is backed by investors like Westbridge, Google, and Info Edge and their acquisitions include StudyIQ in 2021 and Veeksha in 2023.

(Inputs by bl intern Vidushi Nautiyal)

CA Institute announces September exams dates for the first time

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 CA Institute, the world’s largest accounting body, has announced the dates for the September leg of its Foundation, and Intermediate examinations for this year. 

  • Also read:CA Institute to hold 2nd edition of ‘Startup Sphere’ at Bengaluru between June 27 & 29

While the foundation course examination would be held on September 13th, 15th, 18th and 20th, the intermediate course examination for Group I would be held on September 12th, 14th, 17th, and for Group II on September 19th, 21st and 23rd, according to an ICAI Council decision. 

This is the first time ever Foundation and Intermediate examinations are proposed to be held in September.

In March this year, the Institute of Chartered Accountants of India (ICAI), had decided to hold its Foundation and Intermediate Course exams thrice in a year. 

Instead of twice a year in May and November, the foundation and intermediate exams will be held in January, May/June, and September, ICAI had decided.

However, the exam calendar for the Final Course had not changed, and, it will continue to be held in the months of May, and November each year.

While elaborating the rationale behind the decision, ICAI President, Ranjeet Kumar Agarwal had in said in March that the CA Institute, had decided to align itself, with the global best practices on this front. 

He had highlighted that globally, the frequency of examinations, was more so that students could get more opportunities to sit in the exam. 

Currently, ICAI has over four lakh members, and close to nine lakh students. Nearly 4.3 lakh students, had recently taken the May edition of the ICAI exams. 

Agarwal had recently said, that ICAI, sees the need for the country to have at least 30 lakh chartered accountants by 2047, when the country aims to be a developed country.

Exam frequency

As the interval between the exams is reduced by two months, from the existing six months to four months, students are expected to have more opportunities to appear in the examination. This will benefit the students who have completed their study period to appear in the exam without waiting for two months.

In recent years, the ICAI, has been proactively redesigning the education, and training scheme, to produce skilled and technology-savvy accounting professionals.

ICAI’s new scheme of education and training introduced in 2023, covered all three levels of the CA course —CA Foundation, CA Intermediate, and CA Final.

  • Also read:CA Institute to issue international networking guidelines for Indian firms, says Prez Agarwal 

This new scheme, has significantly altered the CA course curriculum and practical training duration.The new curriculum, implemented on July 1st of last year, aims to shape accounting professionals proficient in technology.

 ISB ranked first in India by Financial Times in Executive Education Custom Ranking 2024

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The Indian School of Business (ISB), has retained the top position in India while has been ranked second in Asia and gone up to the 26th position globally, from last year’s 29 in the Financial Times (FT) Executive Education Custom Ranking, 2024. 

  • Also read:ISB to train grassroots entrepreneurs with no degrees

ISB Executive Education, has also ranked the first globally in the “Future Use” parameter. Other significant parameters where the school stands out globally, are teaching methods, and materials, value for money, preparation, programme design and international clients.’

“The FT Ranking, resonates with ISB Executive Education’s commitment to equipping learners with knowledge and behaviours essential for effecting transformative change in global businesses and society, at large,’‘ Deepa Mani, Deputy Dean, Executive Education and Digital Learning, and Professor of Information Systems, ISB said in a release. 

 “Our transformative learning solutions equip learners with a mindset of growth and lifelong learning, encouraging them to embrace change, learn, adapt, and lead purposefully in a constantly evolving domestic and global business environment,’‘ she added. 

How Chat-GPT-like AI tools are changing the dynamics of education

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As India’s education experts gaze into the future, they see a transformative force emerging — the integration of advanced AI tools like ChatGPT-4.0. This technology, they believe, holds the promise of ushering in a new era of highly personalized, accessible, and efficient learning experiences for students across the country.

“ChatGPT-4.0 and similar AI assistants have the potential to revolutionize the way we approach education in India,” said Mathew K Thomas, founder of the All India Educator Forum. “By automating administrative tasks and providing customized learning paths, AI can free up teachers to focus more on mentoring and emotional support – truly enriching the student-teacher dynamic.”

  • Also read: Reddit Forges Pact With OpenAI to Bring Content to ChatGPT

“ChatGPT 4.0 has become an indispensable tool in our classrooms,” said Meena Bagga, a teacher at a prominent school in New Delhi. “It has revolutionized the way we approach learning, making it more interactive, personalized, and engaging for our students.”

Experts predict that AI will have a significant impact on India’s educational system, from automating routine tasks to offering adaptive assessments with real-time feedback. “Intelligent tutoring systems powered by AI will provide human-like interactions, while data-driven insights will help educators monitor student progress and refine their teaching methods,” explains Thomas.

  • Also read: OpenAI co-founder Ilya Sutskever departs ChatGPT maker

The tuition market, in particular, is poised for a seismic shift. AI-powered adaptive learning platforms will tailor education to each student’s unique needs, challenging traditional tuition centres to evolve. “This shift is expected to make quality education more accessible, especially in rural areas,” Thomas notes.

However, Mahesh Modha, proprietor of Modak Academy believes that physical centres will not go away any time soon. “I prefer physical modules more than online and I focus more on the physical classes. It depends on students, 50 per cent of them prefer offline coaching, others do not want to travel and they use AI and online methods to learn and educate themselves. Economically wise its again half and half due to the uncertainty in the market.”

In contrast to Modha, Thomas believes that tuition centres and private tutors are already adapting to the rise of AI, integrating ChatGPT-4.0 and similar tools into their content creation, assessments, and feedback processes. “By combining human and AI support, they aim to create a richer learning experience for their students,” said Thomas.

  • Also read: OpenAI launches GPTo, improving ChatGPT’s text, visual and audio capabilities

Traditional schools and colleges are also embracing the AI revolution, investing in infrastructure, training faculty, and developing AI-integrated curricula. “The goal is to ensure a seamless blending of technology and teaching, allowing educators to focus on fostering critical thinking and creativity,” Thomas explains.

The integration of ChatGPT 4.0 has not been without its challenges, however. Educators like Bagga have had to adapt their teaching methodologies to effectively leverage the AI’s capabilities while ensuring students develop essential critical thinking and problem-solving skills.

At the heart of this transformation lies the active involvement of Indian educators. They are being encouraged to train AI systems to fit the local educational context, developing AI that understands regional languages, cultural nuances, and educational values. “Teachers and education professionals play a crucial role in creating AI-powered content that is contextually relevant and culturally sensitive,” Thomas emphasizes.

As India’s education landscape stands on the cusp of an AI-driven revolution, the experts are cautiously optimistic. “If implemented thoughtfully and with the active participation of educators, ChatGPT-4.0 and similar AI tools have the power to make quality education more accessible and personalized than ever before,” concludes Thomas.

Bagga highlighted the model’s ability to provide customized learning experiences, tailored to the needs and learning styles of each student. “With ChatGPT 4.0, we can create dynamic lesson plans that cater to the unique strengths and weaknesses of our students. It’s like having a private tutor in the classroom, accessible to all.”

Moreover, the model’s sophisticated language processing capabilities have opened up new avenues for students to express their ideas and showcase their creativity. “ChatGPT 4.0 has become an invaluable tool for our students in creative writing, essay composition, and even coding,” Bagga added. “It’s a game-changer in terms of the quality and depth of their work.”

  • Also read: Apple nears deal with OpenAI to put ChatGPT on iPhone

The integration of ChatGPT 4.0 has not been without its challenges, however. Educators like Bagga have had to adapt their teaching methodologies to effectively leverage the AI’s capabilities while ensuring students develop essential critical thinking and problem-solving skills.

“It’s a delicate balance,” Bagga acknowledged. “We want our students to benefit from the AI’s vast knowledge and capabilities, but we also need to ensure they don’t become overly reliant on it. Our role as educators is to guide them in using ChatGPT 4.0 as a tool to enhance their learning, not replace it.”

As the AI revolution continues to reshape India’s education landscape, educators and policymakers alike are closely monitoring the impact and exploring ways to effectively harness the potential of these transformative technologies.

“The future of education is undoubtedly one where AI and human intelligence work in harmony,” Bagga concluded. “With the right approach, we can create a learning environment that empowers students to thrive in the 21st century and beyond.”

In a dramatic shift, India’s education sector is undergoing a profound transformation driven by the latest advancements in artificial intelligence. The introduction of ChatGPT 4.0, a groundbreaking language model developed by Anthropic, has significantly impacted the way students learn and educators teach across the country.

(The writer is interning with businessline)

Harvard blocks graduation for 13 Students, defying faculty vote

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Harvard University’s governing board said it’s declining to award degrees to 13 students who violated the university’s policies by participating in a pro-Palestinian encampment on campus.

  • Also read: Harvard seeks to move past firestorm brought on by school President Claudine Gay’s resignation

The move came after 115 faculty members showed up to a meeting on Monday and voted to allow the students to graduate, even after they’d been disciplined by an administrative board, according to the Harvard Crimson. The Faculty of Arts and Sciences has about 888 voting members.

The ruling may exacerbate divisions between the Harvard Corp., led by former Commerce Secretary Penny Pritzker, and some faculty and students. The students were found to have “violated the university’s policies by their conduct during their participation in the recent encampment in Harvard Yard,” the corporation said in a statement Wednesday.

  • Also read: Harvard University adds caste as protected category for student workers

Harvard Corp. has been criticized since the October 7 attack on Israel by Hamas, with the university struggling to combat accusations of antisemitism on campus and more recently of allowing the encampment on Harvard Yard. The university leadership, including interim President Alan Garber, has also faced backlash from faculty and students for disciplining the activists.

Asmer Asrar Safi, an incoming Rhodes scholar to Oxford University from Pakistan, said on X that he’s one of the students unable to graduate. 

More than 1,539 degrees will be awarded to Harvard College students in a ceremony on Thursday in Harvard Yard, which will include a day of processions, speakers and celebration. 

More stories like this are available on bloomberg.com

TDK Corporation joins hands with IIT Madras innovation centre to launch accelerator program

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TDK Corporation, a leader in electronic solutions, has tied up with the Gopalakrishnan-Deshpande Center for Innovation & Entrepreneurship (GDC) at IIT Madras to launch the ‘TIIC Accelerator Program 2024’. The program aims to foster innovation in the Healthcare Technology and Diagnostics sector arising from Indian STEM university researchers and start-ups.

Through this collaboration, TDK Corporation aims to harness India’s deep talent pool and creativity to propel breakthroughs in healthcare diagnostics, medical devices, and related areas. The programme will provide targeted support, mentorship, and partnership and investment opportunities to catalyse the growth of promising healthcare technology ventures.

The ‘TIIC Accelerator Program 2024’ will combine TDK’s experience in the technology industry with GDC’s experience in commercialisation of research and fostering entrepreneurship, says a release.

The programme seeks the participation of start-ups from multiple segments of the healthcare technologies and diagnostics sector. This includes diagnostic labs/ services, consumables, wearables and analytics.

The programme will call for applications in June 2024, from which promising start-ups/ teams will be selected. Thereafter, GDC will host an in-person workshop of the selected teams/ start-ups at the IIT Madras campus. Following this, the teams will undergo an intensive 6–8-week boot camp focussed on customer discovery. In the next phase, a set of shortlisted teams will participate in a Business Mentorship programme, which will help them get investment-ready and prepare them for their pitch to TDK to secure investments or explore other potential collaborations, the release said.”

NCLT issues fresh notices to Byju’s over unpaid vendor dues; next hearing on July 3

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The National Company Law Tribunal (NCLT), on May 22, issued notices to Think and Learn Pvt Ltd, the parent company of Byju’s, in three cases over non-payment of dues to operational creditors.

The hearing in all three cases, filed by publishing company McGraw Hill, BPO service provider Cogent E-services, and supplier of automation control products AG Automation, is scheduled for July 3.

The NCLT bench gave Byju’s two weeks to respond and another week for the petitioner to file a rejoinder. Byju’s owes McGraw Hill ₹1.43 crore and about ₹6 crore to Cogent, the petitions claim.

  • Also read: Byju’s former employees looking to file NCLT plea for unpaid dues

At least seven vendors have approached the NCLT to recover their dues. The embattled edtech company is fighting an oppression and mismanagement plea filed by its investors in the NCLT.

In November 2023, the Board of Control for Cricket in India (BCCI) filed the first insolvency plea against Byju’s claiming that the company had defaulted on a payment of ₹158 crore. The plea is at an advanced stage of hearing at the NCLT.

Subsequently, France-based teleperfomance business services company, Glas Trust Company (the lenders), and digital marketing firm Surfer Technologies all filed insolvency pleas.

Recently, Byju’s appointed CEO Arjun Mohan and CFO Ajay Goel have also stepped down. Additionally, Mohandas Pai and Rajnish Kumar are now planning to step down after the completion of their one-year term.

On Tuesday, businessline reported that a group of former employees of troubled edtech major Byju’s is planning to drag the company to the NCLT to demand their dues from the company.

Meanwhile, Byju’s has also halted part of employee salaries for as long as two months since March as it faces a paucity of funds. Byju Raveendran has been communicating sporadically with employees via email, assuring them that circumstances will improve in a few days once the company can use the funds from a recent rights issue. For some, these assurances were the reason they stayed with the organisation untill now.

SuperKalam secures $2 million in seed funding for AI-led educational platform

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SuperKalam, an AI-led personal mentor for students preparing for competitive exams, has concluded a seed funding round, raising $2 million.

The company said the funding will be utilized to improve SuperKalam’s AI-led educational platform, expand its reach, enhance user experience, and foster innovation in learning services.

The funding round was led by YCombinator and Fundersclub with participation from investors including YC Partner Puneet Kumar, GoodWater Capital, Nurture Ventures, SuperCapital and Pareto Ventures, among others.

Vimal Singh Rathore, Co Founder & CEO of SuperKalam said, “We are excited to have iconic investors join us in our mission to rethink learning in an AI-first world. At SuperKalam, we are committed to leading this change by transitioning from unilateral content broadcasts to delivering personalized learning that adapts to each student’s unique needs.”

This is the second edtech startup by cofounder Vimal, following Coursavy, which was acquired by Unacademy in September 2020.

Founded in July 2023 by Vimal Singh Rathore and Aseem Gupta, SuperKalam claims to leverage Artificial Intelligence to provide guidance and support for competitive exams. The company says it places students at the centre of a customised learning experience. By utilizing AI-driven analytics, the platform is said to adapt to each student’s needs, offering tailored learning paths, instant doubt resolution, and progress tracking. The platform currently has over 60,000 students.

Boris Silver, Founding Partner at Fundersclub, said, “We are always on the lookout for ventures that can create significant value for customers. India’s edtech market is full of opportunity, and in SuperKalam, we see the potential for significant impact. We believe the founding team has strong experience in the market and their product has tremendous potential.”

(With inputs from BL Intern Nivasini Azagappan)

Career Mosaic sets up office in GIFT City

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Career Mosaic, an international student recruitment firm, announced the opening of its new office in Gujarat International Finance Tec-City (GIFT City) in Gujarat.

The firm’s presence in GIFT City will facilitate seamless application management, assessments, marketing strategies and enrollment procedures for educational institutions aiming to tap into the Indian study abroad market and beyond, said an official release here. “Our strategic global expansion initiatives and landmark presence in GIFT City underscore our unwavering commitment to redefining the contours of student recruitment and fostering global educational opportunities,” said Manisha Zaveri, Joint Managing Director, at Career Mosaic.

As one of the largest international student recruiters, Career Mosaic has been instrumental in the academic journey of countless students, partnering with over 900 universities globally, the release added.

BYJU’S former employees looking to file NCLT plea for unpaid dues

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A group of former employees of troubled edtech major BYJU’S is planning to drag the company to the National Company Law Tribunal (NCLT) to demand their dues from the company.

Nearly a group of 400 employees who were either terminated, resigned, or are still employed at Byju’s, all sharing a common issue have banded together to take on the the edtech major. Their grievance is that the company is yet to settle their dues, leaving many in financial distress.

A 24-year-old former employee who did not want to be identified is the brain behind bringing together employees past and present who are facing the same issue of non-payment of dues. He has created a WhatsApp group which quickly garnered a lot of traction.

The ex-employee decided to create a Google form where participants could briefly describe their issues, the amount owed to them, and the status of their employment at Byju’s.

  • Inconsistent. Byju’s hasn’t paid PF money for months, show EPFO data
Total dues

In just days of the group being created, over 400 people filled out the form, and the total dues amounted to Rs 5.17 crore including both current and former employees; businessline has reviewed the data. However, this figure is only a fraction of the overall debts allegedly owed by Byju’s to its workforce.

Byju’s has laid off over 10,000 employees in the last two years and a large chunk of them are still waiting for their dues.

Now, the group of employees led by the former employee has appointed a lawyer and plans to knock on the doors of NCLT to demand their dues from Byju’s.

This development comes on the heels of turmoil for Byju’s when its investor board members have left too, and a group of investors have filed plea for ‘oppression and mismanagement’ at the NCLT, over its $200 million via rights issues, among others.

The NCLT has deferred the hearing of the ‘oppression and mismanagement plea’ filed against Byju’s by investors to June 6.

  • Also read: Byju’s faces uphill sales battle during prime admission period
worsening woes

At least seven vendors also have sued Byju’s at NCLT to recover their dues. The company’s recently appointed CEO Arjun Mohan and CFO Ajay Goel have also stepped down. In the latest development, both Mohandas Pai and Rajnish Kumar who were advisors to the management have decided to step down after the completion of their one-year contract in June this year.

Meanwhile, Byju’s has also halted part of employee salaries for the past two months, since March, as it faces a paucity of funds.

Byju Raveendran though has been communicating sporadically with employees via email assuring them that the circumstances will be better in a few days once the company can use the funds from a recent rights issue. For some, these assurances were the reason they stayed with the organisation till now.

“It is unbelievable what went down so fast with Byju’s. How can a company valued at $22 billion one day, not be able to pay employee salaries the next?,” said a distressed employee speaking to businessline who did not want to be identified.

Another employee lamented had the company stopped giving fake assurances and told them about the company’s financial woes , they would have resigned and found new jobs.

“With the new academic year starting in April, no company will hire teachers. We have to sit idle for at least one to two months,” said an ex-employee. Byjus was yet to respond to a request from businessline for comments at the time of this story going to press.

Harvard selects former Twitter India head Manish Maheshwari for Mason Fellowship

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Harvard University’s John F. Kennedy School of Government has selected former Twitter India head, Manish Maheshwari, currently an AI entrepreneur and co-founder of Fanory.ai, for the Mason Fellow Program.

This program aims to address global development challenges and is renowned for its international impact. Starting from July 2024, he will spend two semesters at Harvard’s campus in Cambridge, Massachusetts. 

The Mason Program, Harvard University’s oldest international initiative, was established over six decades ago. It aims to bring leaders from developing countries to Harvard to tackle pressing global development issues.

  • Also read: Harvard seeks to move past firestorm brought on by school President Claudine Gay’s resignation

Named after Edward Sagendorph Mason, a former Harvard professor and dean of Harvard Kennedy School from 1947 to 1958, the program boasts an esteemed alumni network which includes influential figures such as UN’s former Secretary General Ban Ki-Moon, Singapore’s newly appointed Prime Minister Lawrence Wong as well as former Prime Minister Lee Hsien Loong and Nobel Peace Prize laureates President Santos of Colombia and President Johnson Sirleaf of Liberia.

Alumni also include leaders across diverse fields including NGOs, central banks, social movements, media, and entrepreneurship, highlighting the program’s impact and prestige.

Reflecting on his selection, Maheshwari expressed gratitude, stating, “Incredibly humbled by this honor, it reaffirms my commitment to integrating technology with societal benefits. We must approach AI development with humility and responsibility, ensuring it benefits all layers of society, especially the marginalized. In doing so, we honor the true spirit of technological advancement — not to overshadow humanity, but to uplift it, ensuring no one is left behind.”

  • Also read: Harvard president Claudine Gay resigns amid plagiarism claims, backlash from antisemitism testimony

Maheshwari will concentrate on researching AI’s role in empowering individuals and improving the financial security of marginalized creators and bring those learning back to improve Fanory.ai. His primary objective is to ensure that AI advancement is inclusive and responsible, benefiting all sectors of society and maintaining the essence of technological progress.

Educational lending platform Propelld raises $25 million for NBFC arm Edgro

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Propelld, a fintech start-up that offers educational funding, has raised $25 million for its wholly-owned non-banking financial company (NBFC) subsidiary Edgro.

Nine lenders including Credit Saison India Private Ltd, AU Small Finance Bank, InCred Financial Services Ltd and Northern Arc Capital Ltd contributed to this. The company will utilise the funds to expand its reach and offerings.

Propelld, founded in 2019 by Bibhu Prasad Das, Victor Senapaty, and Brijesh Samantaray, provides financing options for education loans through its study now and pay later products. Additionally, its NBFC arm provides Income Sharing Agreements (ISA). The platform focuses on tier-II and tier-III cities where students have trouble obtaining loans from lenders.

“As Edgro continue to expand its reach and enhance our offerings, we are grateful for the robust support from our financial partners, which enables us to further the mission of democratizing education and empowering more students .Edgro is further actively seeking bank borrowings & co-lending partners with the same brand philosophy to expand our mission,” said Nikunj Agarwal, head of debt & lending Alliance, Propelld.

Propelld has raised nearly $40 million in funding from investors such as WestBridge Capital, Stellaris Venture Partners and India Quotient. Edgro, on the other hand, started its operations in July 2023. Their latest fundraising round, which took place in February 2022, raised $35 million.

(Inputs from BL intern Meghna Barik)

Rajnish Kumar, Mohandas Pai to step down from Byju’s advisory board

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Amid a series of setbacks, edtech major Byju’s has announced that its parent company, Think & Learn Private Limited (TLPL), and two advisory board members – Rajnish Kumar and Mohandas Pai – have mutually decided not to renew the contractual agreement scheduled to end on June 30, 2024.

  • Also read: Byju’s faces uphill sales battle during prime admission period

According to the company, Rajnish Kumar, a former chairman of SBI, and TV Mohandas Pai, the former CFO and Board Member of Infosys, had joined the advisory board last July to offer advice and guidance to Byju’s Board and its CEO, Byju Raveendran, on critical matters that play a pivotal role in shaping the company’s future.

“Our engagement with the Company as advisors was always on a fixed term basis for a year. Based on our discussions with the founders, it was mutually decided that the tenure of the advisory council should not be extended. Though the formal engagement concludes, the founders and the company can always approach us for any advice. We wish the founders and the company the very best for the future,” said Kumar and Pai in a joint statement.

The company in a statement said that characterising a routine move as “a setback” is exaggerated and attention-seeking. Additionally, TLPL said it values the engagement with the Advisors and greatly appreciates all their efforts in navigating the company through turbulent times. 

  • Also read: Byju’s slashes course fees by 30-40%, ups sales incentives by 50-100%

“Rajnish Kumar and Mohandas Pai have provided invaluable support in the past year. The ongoing litigations by a few foreign investors have delayed our plans but their advice will be relied upon in the ongoing rebuild which I am personally leading,” Byju Raveendran, Founder & CEO, Think & Learn, said.

In September of last year, the company had appointed Arjun Mohan, as the CEO of its India business, replacing Mrinal Mohit, but he has also resigned from his position in a little over six months after he took over, with founder Byju Raveendran resuming daily operational responsibilities. 

(Inputs from bl intern Vidushi Nautiyal)

CUET-UG Day 1: Over 2.5 million students sit for exams nationwide

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The first day of CUET-UG was conducted on May 15 for Chemistry, Biology, English and General Studies, all over India except for 258 centres in Delhi. 

There are  2,157 centres where the exam took place.

Attendance was around 75 per cent.

According to senior government officials, 6,43,752 candidates took the Chemistry exam across 1,640 centres, and 3,63,067 candidates took the biology exam in 1,368 centres. 

For English, 8,62,209 candidates took the exam in the 2,077 centres, and 7,21,986 candidates took the General Studies exam in 1,892 centres.

Since students write multiple tests, the above is equivalent to handling 2591014 students on a single day. This constitutes 44.71 per cent of the total scheduled slots for students registered in pen-and-paper mode, the official explained. 

“This is a landmark achievement by NTA in conducting CUET-UG in such large numbers on a single day,” M Jagadesh Kumar, Chairman UGC, said. 

The tests in four papers scheduled in 258 centres in Delhi on May 15 are postponed to May 29. 

This postponement was necessitated due to logistical issues beyond the control of NTA. Fresh admit cards will be issued to the students in Delhi. 

IIT Madras places over 80% of BTech/Dual-Degree students and over 75% of Master’s students

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In the last two years, 90 per cent of IIT Madras BTech and Dual-Degree graduates found career opportunities by the time of their convocation. With more than two months left for 2024 convocation, IIT Madras is on track again this year to hit this milestone, says a release.

As on April 30, 2024, IIT Madras has placed more than 80 per cent of BTech/Dual-Degree students and over 75 per cent of Master’s students this year. During the year 2023-24 Phase I and Phase II of campus placements, 1,091 students were placed in 256 companies. In addition, out of 300 pre-placement offers, 235 were accepted.

Companies from Japan, Europe and other countries made 44 international offers. Further, 85 start-ups made as many as 183 offers during Phases I and II of campus placement. Of the placed students, 43 per cent are in the core sector, followed by 20 per cent in software, and less than 10 per cent each in analytics/finance/consulting and data science.

This year, median and average salary is ₹19.6 lakh and ₹22 lakh respectively, the release said.

V. Kamakoti, Director, IIT Madras, said, “While job placements are an important career path to take, we would like more of our students to take up entrepreneurship and provide jobs to others. This is in line with our target of 100 tech start-ups next year.”

Classplus invests in government exam-prep platform Gyan Live 

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Classplus, a B2B edtech unicorn, announced a strategic investment in Gyan Live, an educational platform dedicated to State-level government exam preparation in Gujarat.

With this undisclosed amount of investment, Gyan Live is planning to expand its offerings to those preparing for central government and school exams in regional languages. According to the company, this funding will also enable Gyan Live to leverage Classplus’ technology, enhancing the learning experience of their students and boosting their reach. 

Classplus has made multiple investments in educational start-ups like Abhinay Maths, Saarthi, Testbook, etc.

The edtech start-up helps educators and content creators launch and scale their online coaching businesses.

Since inception, Classplus has raised approximately over $150 million from global marquee investors like Tiger Global, AWI, RTP Global, Blume Ventures, Sequoia Capital India’s Surge, Spiral Ventures, Strive, Times Internet and Abu Dhabi-based Chimera Ventures.

Also read: Va Tech Wabag launches Blue Seed initiative to nurture water tech start-ups

Founded in 2019 by Taral Patel, Mahesh Ahjoliya, and Chetan Patel, Gyan Live provides education through its app and YouTube channels in the form of live classes, recorded lectures, comprehensive study materials and test series to help students with exam preparation. 

“Over the last few years, Gyan Live has solidified its position in the government exam preparation category in Gujarat, and this partnership allows us to broaden our impact and make our learning solutions available to more and more students in India,“ said Taral Patel, Co-founder of Gyan Live. Mukul Rustagi, Co-founder and CEO of Classplus, added, “We are thrilled to partner with Gyan Live, a company that shares our vision of making quality education accessible to all. Excited to support their next phase of growth.”

With inputs from bl intern Nivasini Azagappan

Supreme Court stays Calcutta HC order on West Bengal teachers’ appointments

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In a major relief to 25,753 teachers and non-teaching staff of West Bengal, the Supreme Court on Tuesday stayed the order of the Calcutta High Court order invalidating their appointment made by the state’s School Service Commission (SSC) in the state-run and state-aided schools.

The top court, however, permitted the central probe agency, Central Bureau of Investigation (CBI), to continue with its investigation and said it may probe even the members of the state cabinet if needed.

While granting the relief on the pleas, including the one filed by the state government, a bench comprising Chief Justice D Y Chandrachud and justices J B Pardiwala and Manoj Misra asked the CBI not to take any precipitative action like any arrest of any suspect during its ongoing investigation.

The top court, however, made it clear that the teachers and non-teaching staff of the state, whose appointments were cancelled by the high court, will have to refund the salaries and other emoluments if it reaches the conclusion that their recruitment was illegal.

“We are of the view that an expeditious disposal of the matter will be in the interest of justice. We accordingly direct that the proceedings be listed for hearing and final disposal on July 16, 2024.

“In the meantime, we are inclined to continue the ad-interim protection granted by this Court in the order dated November 9, 2023, subject to the express stipulation that any person found to have been appointed illegally and has continued as a consequence of the present order shall undertake to refund the entire amount of the salary which may be paid from the date of this order and the final judgement of this court,” the bench said in its order.

It said the issue which would merit closer analysis is whether the appointment which suffers from tainted can be segregated (with the genuine ones). If such is possible then it would be wrong to set aside the entirety of the process, the bench said.

The court should also be mindful that a large number of teachers for class 9-10th would be effected. Assuming that such a segregation is possible, this court has to set out the modalities to determine the segregation, the bench said in the order.

Earlier in the day, it termed the alleged recruitment scam in West Bengal as “systemic fraud” and said the state authorities were duty-bound to maintain the digitised records pertaining to the appointment of 25,753 teachers and non-teaching staff.

“Public job is so scarce… Nothing remains if the faith of the public goes. This is systemic fraud. Public jobs are extremely scarce today and are looked at for social mobility.

“What remains in the system if their appointments are also maligned? People will lose faith, how do you countenance this?” the CJI asked the lawyers representing the state government.

The bench said the state government has nothing to show that the data was maintained by its authorities and asked about its availability.

“Either you have the data or you do not have it… You were duty-bound to maintain the documents in digitised form. Now, it is obvious that there is no data.

“You are unaware of the fact that your service provider has engaged another agency. You had to maintain supervisory control,” the bench told the state government’s lawyers.

The top court said expeditious hearing was needed in the matter and listed the pleas for hearing on July 16.

It took note of the submissions of Solicitor General Tushar Mehta that the order staying the high court judgment may hamper the ongoing CBI probe and clarified that the investigation by the central agency will continue without any coercive action against the government officials and others.

Senior advocates Rakesh Dwivedi and N K Kaul, representing the state government authorities, argued against the cancellation of the appointments by the high court.

During the hearing, senior advocate Dushyant Dave made comments against former Calcutta High Court judge Justice Abhijit Gangopadhyay and sought a stay of the high court order.

“Mr Dave, we are not on conduct of Mr Gangopadhyay. We have been here and listening the nitty-gritty of the case since morning. Please show some decorum,” the bench said.

The CJI, once during the hearing, got irked and said he will issue notice and keep the case for hearing in July if the orderly hearing is allowed to take place.

“We are not here to scrutinise the conduct of Justice Gangopadhyay,” the CJI said, adding that the lawyers should be concerned with the legality of the case and levelling allegations against the high court judge will not lead anywhere.

The bench, in its order, said, “We are of view that submission of petitioners (state government and others) merits further consideration.” The top court was hearing a batch of petitions challenging the Calcutta High Court’s April 22 decision that invalidated the appointment of 25,753 teachers and non-teaching staff in state-run and state-aided schools of West Bengal.

Besides cancelling the appointments, the Calcutta High Court had also directed the CBI to probe into the appointment process and submit a report in three months.

Over 23 lakh candidates had appeared for the State Level Selection Test (SLST)-2016 for 24,640 vacant posts. A total of 25,753 appointment letters were issued against 24,640 vacancies, Firdaus Shamim, a lawyer for some of the petitioners who had alleged irregularities in the selection process, had said.

The court also instructed those appointed outside the officially available 24,640 vacancies, appointed after the expiry of the official date of recruitment, and those who submitted blank Optical Mark Recognition (OMR) sheets but obtained appointments to return all remunerations and benefits received by them with 12 per cent per annum interest, within four weeks.

Almost 83% of IIT-Madras students already placed: Institute Director

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It is too early to judge the placements situation at IIT-Madras, as the process happens in phases and also includes researchers, IIT-Madras Director V Kamakoti said on Wednesday. “Almost 83 per cent of IIT-Madras students have already been placed currently and the correct position of placements will be available only in mid-July as it concludes in phases,” he said on the sidelines of a media event at the institute.  

Responding to recent media reports about India’s premier institutions, IITs, achieving poor placements this year, and many students taking up low-paying jobs, the Director explained that placements at IIT-Madras take place in phases and we cannot judge the scenario at this stage. Generally, placements at IITs occur in two phases – one in December and the other ongoing between January and June. 

  • Also read: IIT-Madras fundraising hits historic high of ₹513 cr

“Many of the public sector units (PSUs) and other companies come for placements only around June-July, and many students too contemplate on various options such as higher studies, starting up, and hence the data at this stage will not give a true picture,” he added. Masters and PhD students also participate in the placement process and they generally contemplate their next steps until July and also choose not to sit for placements, he added.

Masters and PhD students also participate in the placement process, and they typically consider their next steps until July. Additionally, they often opt not to participate in placements,” he added.

The institute, he said, plans to collate all the data and will soon explain the process and share the data with the media. 

Kamakoti also highlighted the role played by alumni of IIT-Madras in mentoring and guiding students in their entire academic journey, including the placements process, through an informal program called YAARI (Yours Always Alumni Relations). 

IIT-M’s Director’s comments come at a time when reports of the global slowdown make it challenging for the IITs to attract global companies for placements. Reports indicate that India’s premier institution has an average of 30-35 per cent students still awaiting job offers.

CA Institute to issue international networking guidelines for Indian firms, says Prez Agarwal 

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CA Institute will soon issue international networking guidelines to enable domestic firms to spread their footprints abroad, its President Ranjeet Kumar Agarwal has said.

The Institute of Chartered Accountants of India (ICAI), the largest accounting body in the world, will also review the Advertising regulations for its members to relax them in accordance with the current economic milieu and the requirements of a globalised business environment.

Currently, the ICAI does not have any specific international networking guidelines.

“This (framing international networking guidelines) is also a part of the terms of reference of our committee on ‘Aggregation of CA’ firms. We are of the opinion that this is also required if we want our Indian firms to be global,” Agarwal said in an interview here.

He also said that the review of advertising regulations is also part of the work agenda of the Committee on Aggregation of firms.

Right now, ICAI advertising regulation says Indian firms can advertise in digital, print, and electronic media as a write up, which cannot be in a font size above 14, he said.

Agarwal said that the Committee is expected to finalise its overall report by mid-June and then it will most likely be taken up by the Central Council in the first week of July this year.

‘Aggregation of CA firms’ and international networking is going to be a top priority for the CA institute in the next two months, he added.

Noting that ICAI is in a “fast track mode” on this front, Agarwal said that the Committee on Aggregation of CA Firms has already met thrice, and two more are scheduled this month.

Prime Minister Narendra Modi, in July 2017, during his address at the Chartered Accountants Day event called for creating four big Indian accounting firms that are counted among the world’s Big-8.

There are about 96,000 CA firms in India, with about 1.6 lakh practising chartered accountants. Of these, about 75,000 firms are proprietorships. Most firms are small and even seven years after Prime Minister’s exhortation, not much has been achieved on this front.  

ARTIFICIAL INTELLIGENCE 

In line with its new focus on Artificial Intelligence (AI), the CA Institute is developing a Gen AI tool for its members and students. 

Currently, ICAI has about 4 lakh members and 9 lakh students. 

ICAI has received 90 applications from various IT companies/ vendors to develop this tool. 

“We want this GPT tool developed in the next three months. It will help our students and members to discharge their functions effectively using Artificial Intelligence. It will be a digital assistant for them,” he said.

Agarwal also said that ICAI is working hard on its e-office framework and asserted that by the end of June this year, the entire Institute would turn into a paperless body. 

‘EACH ONE, TEACH ONE’ PORTAL 

Agarwal also said that CA Institute would soon launch a portal for its ‘Each One, Teach One’ programme. 

Under this programme, each CA Institute member will adopt one student to nurture, groom and hand-hold them. 

“This portal will give us data on what kind of social work each member is doing on Each One, Teach One. Hopefully, very shortly it will start. It is a dream project for us. Portal will be called ICAI Each One, Teach One,” Agarwal said.

Asked about the status of CA examinations, Agarwal said that they are going on as planned and without any glitches or disturbances. Nearly 4.36 lakh students from 293 centres across the country are taking the May 2024 edition exams for Intermediate and Final courses.

Jaro Education reaches out to add 100 institutes

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Jaro Education, a leading player online education sector, has reached out to 100 reputed institutes for offering their education programme on its platform.

  • Also read:Online learning platform UNIVO welcomes UGC recognition

Founded by Dr. Sanjay Salunkhe, Jaro. already offers a diverse range of programmes in collaboration with institutions such as IIMs, IITs and other top-ranked universities.

It has registered a net revenue of ₹203 crore in FY24.

Dr Salunkhe, CMD, Jaro Education said, by reaching out to 100 reputed institutes, the company aims to democratise access to education and empower learners from all walks of life to pursue their academic and professional aspirations.

The online platform goal is to make quality education accessible to every individual, regardless of their geographical location or background.

By expanding the network of partner institutes, Jaro is committed to offering a wider range of programmes and opportunities to learners across the country, he said.

The expansion plan, entails collaborating with renowned universities, management institutes and technology hubs to offer an extensive array of courses in various disciplines.

Jaro Education’s portfolio currently includes over 250 online programme certification courses, catering to fields such as management, technology, finance and business analytics.

The company plans to enhance its presence in tier II to IV cities, tapping into emerging markets and catering to the growing demand for online education.

  • Also read:Online education up 32% in Tier 2 and 3 cities: survey

The strategic expansion will not only benefit students by providing access to high-quality programmes but also contribute to the overall development of the education sector, he said.

ISB to train grassroots entrepreneurs with no degree

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The Indian School of Business (ISB) Campus in Hyderabad
| Photo Credit:
NAGARA GOPAL

 

The Indian School of Business (ISB) has launched a programme for upcoming and promising entrepreneurs, called I-Venture Immersive (ivi) to be run by its entrepreneurship arm, I-Venture@ISB

The programme encourages keen innovators from across the country to pursue their passion with or without any formal educational qualification beyond Class 12.

Beyond degrees

 “In India’s vibrant startup ecosystem, where talent often surpasses formal education, the inclusive approach of ivi holds significant importance in fostering innovation and driving economic growth. By embracing individuals without college degrees, ivi ensures that every potential entrepreneur has the opportunity to thrive, thus contributing to a dynamic and inclusive future for Indian entrepreneurship,’‘  Professor Bhagwan Chowdhry, Faculty Director, I-Venture@ISB told businessline

The first round of admission for ‘ivi’ is now underway, for the founding cohort starting in October. The six-month immersive experience – billed as ‘more than an incubator, more than a school’ – will be conducted full-time on the Hyderabad campus of ISB. Designed to provide budding entrepreneurs with transformative support, ‘ivi’ will also provide funding support for promising cohort members to bring their innovative ideas to life.

The programme is designed to cater to a diverse group of aspiring innovators, including recent graduates eager to launch disruptive startups; tech professionals seeking to infuse entrepreneurial thinking into their careers; and next-generation family business owners who are eager to launch ventures beyond their legacies.

It will also welcome women entrepreneurs navigating unique challenges in the competitive market and armed forces veterans looking to apply their leadership skills to entrepreneurial pursuits.

“Our pursuit is to empower individuals from all walks of life to follow their entrepreneurial aspirations, and we are focused beyond the usual big cities, with an inclusive focus on all tiers and towns,’‘ Chowdhry said.

Selection

The application and selection process will involve the candidate uploading videos explaining their motivations – a method of selection that is not bound to grades and marks.

In its delivery, the ‘ivi’ programme emphasises problem-solving through innovative methods, including AI, machine learning, and data analysis. Additionally, students will acquire proficiency in accounting skills. 

The marketing segment will focus on branding, customer-centricity, and go-to-market strategies. Further, the ‘ivi’ curriculum will pivot towards Lean Startup entrepreneurship and Design Thinking principles. Finance fundamentals for personal and corporate finance, negotiation enhancement, and supply chain management, are among the other subjects covered, using an immersive experience and hands-on training methods.

Byju’s slashes course fees by 30-40%, ups sales incentives by 50-100%

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Edtech firm Think and Learn — owner of Byju’s brand — has slashed course subscription fees by 30-40 per cent and hiked sales incentives by 50-100 per cent, according to sources.

Byju’s Founder and CEO Byju Raveendran, who has started handling the company’s daily operations, in a meeting with 1,500 sales associates and managers, has announced change in sales strategy inclined towards scalability and flexibility.

“The annual subscription for the Byju’s Learning App is now available at a yearly early price of ₹12,000 (inclusive of taxes), while Byju’s classes and Byju’s Tuition Centres (BTC) are priced at ₹24,000 and ₹36,000, respectively, for a complete year of classes,” sources privy to the development said.

This is almost a 30-40 per cent reduction in rates, they said.

  • Also read: Byju’s implements revenue-linked compensation for sales team amid financial challenges

Byju Raveendran has also promised to settle all dues of the sales team with higher incentives.

He announced that Byju’s sales associates will receive 100 per cent incentives for the closed sales directly into their accounts the next working day, while managers will receive 20 per cent of the same from the company.

“The average sales salary is ₹40,000 per month. So, close a couple of sales, and you can get not just your salary but also clear your arrears. You can earn many multiples of your CTC through this model,” Byju said.

He said the company has transitioned from a push-based to a pull-based sales model, which is driven by love for learning rather than the fear of missing out.

  • Also read: Troubles mount for Byju’s as OPPO files insolvency plea, NCLT admits case

Byju has instructed managers to act as coaches, focused on supporting and enabling the sales team rather than enforcing strict call quotas.

“Associates will have the flexibility to work on their own terms, with no tracking of the number of hours spent on calls,” a company source said.

Byju’s has asked employees to report any ill treatment, forced sales or rude behaviour of managers directly to him.

A query sent to Byju’s seeking a comment on the development did not elicit any reply.

Bold promises in education, but gap in delivery needs attention

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In February, amidst bold promises for transforming education, Education Minister, Dharmendra Pradhan, unveiled the Automated Permanent Academic Account Registry (APAAR) under the National Education Policy (NEP) 2020. This initiative aimed to establish a unified student identification system under ‘One Nation, One Student ID’.

  • Also read:‘Education is now being taken over by private sector’

Shortly after, the BJP’s manifesto echoed this commitment, pledging to implement ‘One Nation, One Student ID’ alongside plans to strengthen prestigious educational institutions like IITs, IIMs and AIIMS through increased funding, capacity building and dedicated research grants.

In her 2024-25 Budget speech, Finance Minister Nirmala Sitharaman highlighted the establishment of seven new IITs, 16 IIITs, 3,000 ITIs, 390 universities, 15 AIIMS and seven IIMs between 2014 and 2024.

However, despite these promises, critics argue that the government’s investment in education remains stagnant at around 2.8-3 per cent of GDP, far below 6 per cent recommended by the Kothari Commission in 1967. The National Education Policy 2020 aims for a 10 per cent allocation within 10 years, but progress has been slow.

“Like its predecessor governments, the BJP government has not stepped up the pedal on public spending on education. It is nowhere near that 6 per cent of the GDP mark. There is a concerted push towards privatisation of education sector so that it goes out of reach of masses, and curriculum is saffronised,” Bikash Bhattacharyya, CPI (M)’s Rajya Sabha MP, told businessline.

Status report

The Annual Status of Education Report by Pratham Education Foundation, said over half of class V children in primary schools of rural India can’t read class II texts or manage simple mathematics. Among teens in the 14-18 age group, over 25 per cent cannot read a class II level textbook fluently in their regional language.

According to India Employment Report 2024 released by the International Labour Organisation (ILO) and the Institute of Human Development (IHD), India’s youth account for almost 83 per cent of the unemployed workforce. And the share of youngsters with secondary or higher education in unemployed youth almost doubled from 35.2 per cent in 2000 to 65.7 per cent in 2022.

“There have been some gaps between promises and their delivery. But, reforms have been initiated. The introduction of NEP, the largest reform ever, is a key step,” an official said.

NEP 2020

The NEP mandates a shift from traditional learning (systems) to experiential learning, compulsory vocational education, exam reforms to test children’s conceptual comprehension, creativity and critical thinking capabilities rather than memory, and promotion of new digital technologies usage in school education.

The NCERT also released a National Curriculum Framework for School Education 2023. It proposes school-leaving class X and class XII board exams be held twice a year (so that students have enough time and opportunity to perform well). Twice-a-year board exams will be rolled out in 2025-26.

According to Aman Singh, Co-Founder, GradRight, the NEP & Setting Up and Operation of Campuses of Foreign Higher Educational Institutions in India Regulations, 2023 offer unique and unprecedented opportunity.

“Given that education is on the ‘Concurrent List’, the success of these policies and regulations will depend on how closely the government at the Centre and State can work together in implementing these new ideas,” he said. However, the ambitious overhaul of school education faces fierce backlash. There are controversies over textbook revisions and allegations of ideological bias in curriculum development.

Higher Education

In the higher education sector, measures like introduction of the four-year undergraduate programme; a national ABC (academic bank of credits) digital repository to facilitate certified multiple exit and re-entry options; and notification of regulations permitting foreign universities to establish brick-n-mortar campuses in India show promise. “But there is a problem. Most foreign universities operate on a for-profit basis, where as in India, the pitch or policy framework is inclined towards a not-for-profit basis. This discourages foreign universities,” said an educationist.

Also, other challenges such as teacher vacancies, brain drain, and the gap between Indian and global educational standards persist.

Budget realities

Fiscal constraints too cast a long shadow. Allocation for education for FY25 is 7 per cent lower than the revised estimates for FY24. The sector is earmarked ₹1.2 lakh crore against revised estimates of ₹1.29 lakh crore, the biggest allocation ever.

The Department of School Education will receive ₹73,000 crore and the allocation is ₹47,619.77 crore for higher education. The higher education sector sees a 16 per cent cut this year, though the allocation for school education has increased.

  • Also read:Financial literacy must begin at school

Funding for UGC has been brought down to ₹2,500 crore. However, the grants for Central universities saw an increase of over ₹4,000 crore with ₹15,928 crore allocated for 2024-25.

Overall, while there have been initiatives and reforms, critics argue that meaningful action and increased investments are needed to address the challenges facing the education system.

‘Education is now being taken over by private sector’

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How do you see the performance of this Government?

The Indian government was investing in schools, towards primary education, institutions of higher education, with a distinct focus on pushing ahead scientific temperament, and understanding. There was leash on private sector in some instances too. A network of well established publicly funded education institutions existed in several States, like West Bengal. It (education) was accessible to all irrespective of their economic background. But all that has changed with NEP 2020. Education is now being taken over by private sector.

Once the private players come in, it means you have to pay for your education. Basically, it is against the welfare principle of the State.

If a party or Government is serious about achieving social justice, freedom of thought, freedom of expression, then the basic requirement is spread of education. But that is not the case.

They are trying to create an area where your right to education is really curtailed.

Is the National Education Policy actually achieving its purpose?

The entire policy is designed to ensure that education goes beyond the reach of the common man. It becomes a commercial division. They are trying to spread unscientific attitude; completely opposite of what is the aim of education — to develop scientific temperament.

There has been a lot of discussion on the NCERT curriculum, and do you see any political agenda in it?

There is saffronisation of school curriculum. One example is the naming of Chandrayaan’s landing site as ‘Shiv Shakti’ by the Prime Minister. Rather than naming it after the scientists, this injects religious ardour into an achievement. Scientific thought process is being categorically replaced with politico-religious symbolism.

Personalised learning platform Interval launches 4 new courses

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Interval, a leading personalised learning platform, has announced the launch of four innovative products as part of its expansion into the new financial year. The company with hundreds of courses in the K-12 segment is expanding its business to new vernaculars and different age segments or students and adults alike, a press release said.

Co-founded by five friends, Aslah Thadathil, Shibily Ameen, Sanafir, Najim Illyas and Ramees Ali, the company has garnered widespread acclaim from students and parents for its comprehensive range of offerings, including Individual tuition on classroom subjects, foundation courses in languages and mathematics, Montessori-based classes called Little Genie, and speaking courses for students and adults in English and Hindi.

  • Also read: Edtech start-up Guvi launches Large Language Models for vernacular learners

The latest additions to the portfolio will cater diverse educational needs, providing individuals with specialized training and career advancement opportunities. The 4 new courses are Jr IAS, geared towards aspiring young minds aged 10 and above; Diploma in English Speak Course; AccountEazy for those seeking to establish a solid career in accounting and Teachers Bridge Course, targeted towards graduates of Teacher Training Courses (TTC) or Bachelor of Education (B.Ed). 

Interval now has over 25000 students in hundreds of courses across 30+ countries.

Strides in education sector taking India closer to Viksit Bharat: Dhankhar

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Vice President Jagdeep Dhankhar said India has been the hub of knowledge and continuous strides in the education sector are taking the country closer to achieving the goal of ‘Viksit Bharat’ by 2047.

  • Also read: Time to embrace ‘Economic Nationalism’, VP Jagdeep Dhankhar tells Corporate India

Dhankhar was addressing the 62nd Foundation Day ceremony of the School of Open Learning (SOL) here.

Lauding the SOL, Dhankhar said it has provided education to people across socio-economic barriers and age groups, helped close the education gap, and provided easy access to all quarters of society.

“Today’s theme, ‘Role of Education in the Creation of Viksit Bharat’ underscores the pivotal role open learning has played in fostering the development of our nation,” he said.

  • Also read: From India Shining to Viksit Bharat: How has Brand India evolved over the years

This liberalisation of education by the SOL has contributed significantly to building a developed India and the country’s rise as a knowledge superpower globally, he added.

Dhankhar also said that in the last decade, issues of corruption and lopsided law and order have been abolished and there is a positive outlook among people towards the country’s rising reputation.

The event was also attended by Delhi University Vice Chancellor Yogesh Singh and SOL Director Payal Mago.

IIT Madras and Sambalpur University to collaborate on research

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Indian Institute of Technology Madras (IIT Madras) and Sambalpur University in Odisha will collaborate on research and academics. The two institutions will also work towards the exchange of students and faculty, academic and scholarly information besides materials and publications. An MoU towards this collaboration was signed at the IIT Madras Campus on Saturday.

  • Also read:IIT Madras launches Research Foundation to drive its global aspirations

V. Kamakoti, Director, IIT Madras, said, “It is extremely important that all Higher Educational Institutions must develop very strong collaborations between themselves and share their best practice. This is one more step that IIT Madras and Sambalpur University has taken together to realise the objectives of Viksit Bharat.”

Basant Kumar Mohanty, Director, SUIIT, Sambalpur University, said, “Signing the MoU with IIT Madras certainly be a milestone for Sambalpur University Institute of Information Technology (SUIIT). This MoU will help SUIIT to work closely with the faculty group of IIT Madras for curriculum development, student exchange programmes through credit transfer, skill development programs, joint research and collaboration on the emerging areas of AI, cyber security, chip design and green technology.

The collaboration also paves the way for sponsorship of cooperative seminars, workshops and other academic meetings. Faculty from both institutions will collaborate in the supervision of exchange students and in joint research in disciplines of mutual interest, says a release.

Troubles mount for Byju’s as OPPO files insolvency plea, NCLT admits case

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Embattled edtech major Byju’s problems keep mounting as Chinese electronics manufacturer OPPO Mobiles Pvt Ltd has approached the Bengaluru bench of the National Company Law Tribunal (NCLT) for an insolvency plea against the company. The NCLT has admitted the case and is scheduled to hear it next on May 28.

The Section 9 plea seeks to initiate a corporate insolvency resolution process against Byju’s under the Insolvency and Bankruptcy Code (IBC), 2016.

Additionally, sources close to the matter confirmed that the tribunal had admitted the case. Byju’s has been given two weeks to respond.

The addition of this plea shows the mounting dues that Byju’s owes to list such entities. Other IBC cases against the company are its $1.2 Bn Term Loan B (TLB) lenders, the Board of Control for Cricket in India (BCCI), outsourcing firm Teleperformance Business Services, and IT service provider Surfer Technology.

In the US, BYJU’S is facing a case filed by lender Glas Trust alleging over-defaulting on a loan raised by US-based creditors.

Along with this, it is also fighting ‘oppression and mismanagement’ plea filed by a group of four of its investors over its $200 Million via rights issues, among others.

The NCLT has deferred the hearing of the ‘oppression and mismanagement plea’ filed against Byju’s by investors to June 6.

Byju’s has paid partial salaries to employees for March, reported businessline. Byju Raveendran, founder and CEO of Think and Learn, has raised debt in his personal capacity to pay the salaries of employees for March.

Byju’s has also taken multiple layoffs, including the 500 employees being laid off.

Recently, Arjun Mohan, the CEO of Byju’s India, resigned from his position a little over six months after he took over, with founder Byju Raveendran resuming daily operational responsibilities, the company said in a statement. Mohan will transition to an external advisory role.

Byju’s implements revenue-linked compensation for sales team amid financial challenges

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Troubled edtech major Byju’s has rolled out a new policy wherein the salaries of the sales staff are directly linked to the revenues they generate every week, amid the struggles that the edtech major is facing with a severe cash crunch and to cover the payroll of its employees.

The cash-crunched company has only paid a part of salaries for February and March, after weeks of delay.

BYJU’S will now directly pay a percentage of the weekly revenue generated by sales staff at the end of the seven-day period.

The company said the new policy applies to the Inside Sales (IS) and Byju’s Exam Prep (BEP) teams, which largely focus on generating revenue for Byju’s. The policy, which was introduced within the company on April 24, will be applicable for four weeks till May 21.

Also read: Troubles mount for Byju’s as OPPO files insolvency plea, NCLT admits case

“Starting immediately, 50 per cent of the upfront weekly collection will be directly disbursed to our sales associates every week for the next four weeks. For instance, if an associate successfully collects ₹50,000 in revenue generated from orders between April 24th and April 30th, they will receive ₹25,000,” according to an internal document which businessline viewed.

Salary suspension

The firm said that the base salaries for sales team associates will be ‘suspended temporarily’ during this period. “Since the base salary has been suspended, you will not receive any payout or salaries for the given period (when the associate fails to do any revenue in a given week),” it added.

The document also showed that the amount disbursed will be adjusted against any pending salaries owed to the employee.

This has been done to motivate sales staff to bring in new enrollments, said sources close to the development.

Recently, the company paid partial salaries to employees for March, reported businessline. Byju Raveendran, founder and CEO, Think and Learn, parent, BYJU’S, has raised debt in his personal capacity to pay the salaries of employees for March.

For March salary, the company had started making salary payments in the range of 100 to 50 per cent to all employees. Teachers and lower salary grade staff were been paid in full while the rest, including senior management, have received at least 50 per cent of their dues for March, reported businessline.

businessline Young Changemaker Award winner Cherrilearn wins ‘Elevate Karnataka 2023’ award

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Puttur-based edtech start-up and winner of the ‘businessline Young Changemaker Award 2023’ – Cherrilearn – has been named a winner of ‘Elevate Karnataka 2023 Call 2’ competition. This recognition brings funding that will fuel Cherrilearn’s mission to empower students, particularly in underserved communities across India.

Cherrilearn offers interactive and gamified learning experiences in English and Kannada for students in grades 1 to 5. This ‘businessline Young Changemaker Award 2023’ winning platform leverages engaging educational methods such as activity-based learning, explanatory videos, and animations. This approach makes education accessible and effective for all students, regardless of their background.

Shrinidhi RS, Founder and CEO of Cherrilearn, said: “At Cherrilearn, we believe every child deserves access to quality education. Winning the Elevate Karnataka 2023 Call 2 award empowers us to significantly broaden our reach and make a positive impact on a larger scale. This aligns perfectly with our mission of empowering students in underserved communities.”

A media statement said that the funding secured from the Elevate Karnataka win positions Cherrilearn for significant growth with a focus on expanding their social impact. This expansion will include the introduction of a Hindi curriculum for grades 1 to 7, catering to a wider audience across India and ensuring diverse linguistic needs are met. Additionally, Cherrilearn plans to expand its Kannada content for grades 6 and 7, ensuring students who began their journey with Cherrilearn can stay engaged with the platform as they progress in their education.

Cherrilearn prioritises collaboration to maximise its social impact. Existing partnerships with seven government schools in Dakshina Kannada will be expanded to reach 100 government schools. This collaboration will provide free access to Cherrilearn for approximately 10,000 students starting from the next academic year.

Through a collaborative effort with corporates, Cherrilearn will sponsor access for students in five schools, including one in remote Meghalaya, granting access to the platform for approximately 155 students, the statement said.

Cherrilearn is actively pursuing international grants to bring its educational technology solutions to schools in Africa, Ukraine and Palestine. Schools in Tanzania and Ghana have already expressed interest in leveraging Cherrilearn’s platform, signifying the potential to bridge the educational divide on a global scale, the statement said.

It is to be noted here that the Union Power Minister, RK Singh, presented the ‘businessline Young Changemaker Award 2023’ to Shrinidhi in New Delhi on November 5.

As US campus protests turn violent, parents in India worry

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As the campus agitations in the US over Israel’s actions in the Gaza turned torrid, sparking police action in places like Columbia University, and rival group clashes in University of California, ripples of anxiety are being felt in India. According to the Open Doors Report of the US State Department, students from India constitute more than 25 per cent of the over one million foreign students in the US.

With news filtering in of an Indian origin student being arrested and barred by Princeton university, parents are calling up their children studying in the US, telling them to stay uninvolved. Meanwhile, education counsellors say they are getting anxious calls from students who have obtained admission in the US but are now rethinking their options.

Some are looking at Ireland as an alternative, while others with jobs are postponing their further studies plan. A dismayed Aakriti Mehta (name changed), told businessline that she had got selected to a Masters programme in Columbia University but is in two minds.

On the other hand, Sneha Jogi, French Trainer at the Alliance Francaise in Hyderabad, whose 18-year old son has got admission in the University of Utah for a 4-year computer sciences and game design course, is sanguine.

“We consulted with numerous International Student Advisors about the incidents in US campuses. It is the student culture, you know. India also has a very prominent protest culture. So you can’t stop people protesting, but you can choose to stay away from it.” Gurugram-based Manav Bansal, whose son is an undergraduate student in a reputed university in south-east US, is unperturbed too. “Education, especially in the US, is not limited to the classroom. It is an expression of democracy in action. Students, largely young people, are allowed to protest for things they believe in. It is a great learning for my son and everyone around the world.” However, he adds, “Protestors should understand the limits of the protest and what they are protesting about. And they should not paralyse the administration of schooling as seems to be happening in Colombia.”

Fears over visa

Meanwhile, Indian students on US campuses expressed fears. Hita Parakh, a student at Suffolk University Boston, said, “Indian American students who are not on a student visa are participating more actively in the protests as they do not fear getting deported. As for students with visas, we are scared to voice our opinion as if the university ends up calling the cops, we might get in trouble.”

“Those who participated in the protests face detention and serious risks to their visa status and scholarships, if identified,” a worried parent told businessline. In case of an expulsion or suspension, students on a F-1 or J-1 visa will in all likelihood lose their visas immediately. Once revoked, they shall be expected to leave the country immediately along with his/her dependents. Typically, an F-1 visa allows a student to temporarily live in the United States for a defined period of time while studying at a school, college, seminary, or conservatory. On the other hand, a F-2 visa, is a non-immigrant temporary permit for the immediate family of F1 student visa holders. A J-1 visa is granted in case of an exchange programme.

Rutuja  Deshmukh, a graduate student at Michigan State University, said, “Twenty six campuses across the US have encampments for the protest. These are student voices, and it’s becoming one of the biggest agitations across America. It’s incredible how students are supporting each other and showing solidarity for the ongoing genocide in Palestine. I haven’t seen that much violence, at least not at MSU. As of now, except for Colombia, the protests have been non-violent.”

Trying to sound reassuring, Aman Singh, Co-Founder & CEO, GradRight, told businessline, “We believe long-term educational planning often transcends temporary events. We understand the recent protests in the US may raise questions for prospective international students. However, studying in the US remains a long-term decision for students and their families, focused on educational goals and career aspirations.”

(With inputs from Abhishek Law, Amiti Sen, Ayushi Kar, Ramit Mehrotra)

Education Ministry asks NCERT to review, update textbooks on yearly basis

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The Ministry of Education (MoE) has asked the NCERT to conduct a review of its textbooks and update them on yearly basis, according to sources.

So far, there has been no mandate on the frequency of updating NCERT textbooks. However, the National Council of Educational Research and Training has been occasionally revising and updating content since 2017.

A rationalisation exercise was also conducted in view of the closure of schools due to the pandemic but there were allegations from a section of agenda-driven editing.

  • Also read: NCERT panel suggests replacing India with Bharat in textbooks

“In the fast-changing world of today, it is important that the textbooks are absolutely updated. The NCERT has been asked to conduct a review on a yearly basis and update them ahead of the beginning of the new academic session… they are soon going to put a system in place,” a source said.

“NCERT books once published should not remain the same for many years. They should be reviewed every year before printing and if any changes have to be made or some new facts have to be added, they should be included in the books. For instance, topics like Artificial Intelligence are very evolving,” the source added.

Currently, the NCERT is in the process of developing textbooks according to the New Curriculum Framework (NCF) announced last year.

“The textbooks as per the new curriculum will be ready for all classes by 2026… it will take at least two years for all textbooks to be released for all classes in line with the new NCF,” the source added.

This year, the NCERT has introduced new textbooks for classes 3 and 6.

MAHE confers doctorate upon K V Kamath

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Manipal Academy of Higher Education (MAHE) held a special convocation in Manipal on Monday to confer an honorary doctorate upon KV Kamath, Chairman of National Bank for Financing Infrastructure and Development (NaBFID) and Chairman of Jio Financial Services Ltd.

HS Ballal, Pro-Chancellor of MAHE, said Kamath’s leadership and vision align perfectly with MAHE’s mission to foster innovation in young leaders. “This honorary doctorate signifies the profound impact Mr Kamath has had, and we are confident his example will continue to inspire our students to pursue excellence in their chosen fields,” he said.

  • Also read: MAHE, Vrtta Green Solutions ink pact for innovation in environmental engineering

Lt Gen MD Venkatesh, Vice Chancellor of MAHE, said Kamath’s remarkable achievements serve as an inspiration to MAHE students and faculty alike. “We are confident that Mr Kamath’s insights and experiences will continue to shape future leaders and contribute to positive change in the world. We are delighted to welcome him to the esteemed company of MAHE’s honorary doctorates,” he said.

Speaking on the recognition, Kamath said MAHE serves as a tribute to creative thinking of TMA Pai who thought of establishing an educational institution in the era when there were just handful of institutes.

  • Also read: MAHE’s ‘QS World University Ranking’ improves in ‘Life Sciences’; ranks 317

“Throughout my career, I have strived to put India’s institutions on the global map and to advocate for sustainable development and being acknowledged by such a respected institution as MAHE motivates me even further. This recognition is not just for me, but for everyone who has collaborated with me on this journey. This is a tremendous honour, and I am grateful for the trust that MAHE has placed in me,” Kamath said.

Vasanti R Pai, Trustee of MAHE Trust, and Ranjan R Pai, President of MAHE Trust and Chairman of MEMG, Bengaluru, were present.

ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC

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The CA Institute has proceeded and notified its revised exam dates (announced on March 19) for the intermediate course examination and final examination despite a pending Supreme Court hearing slated for April 29 on postponement plea filed by some CA Students. 

An ICAI notification—gazetted on April 25 —showed that the intermediate course exams will be held on May 3, 5 & 9 (Group I) and May 11, 15 and 17 (Group II). The final exams are scheduled for May 2, 4 and 8 (Group I). For the Group II, the revised dates are May 10, 14 and 16. These dates are the same as the revised ones of March 19 announcement.

This CA Institute’s move is significant as a group of CA students had on April 16 knocked the doors of Supreme Court seeking postponement of exams due to the general elections 2024. This came after the Delhi High Court had on April 8 dismissed a petition filed by 16 CA Students demanding exam postponement. 

Several CA Students have been actively hosting social media campaigns highlighting the challenges faced by them due to the scheduling conflict between CA exams and the General Elections 2024.

The Election Commission announced seven phased 18th Lok Sabha elections. While the phase 1 of polling was held on April 19 and the final phase will be held on June 1.  The CA exams are scheduled to happen between May 2 and May 17.

Over 4 lakh students are now anxiously waiting to see what stance the apex court Bench led by Chief Justice of India YV Chandrachud may take on this front on April 29.

In March this year, the Institute of Chartered Accountants of India (ICAI) had made adjustments to the CA Inter and Final exam schedule for May 2024 due to the impending Lok Sabha elections. However, despite these changes, aspiring CAs had knocked the doors of Delhi High Court to get the dates postponed. 

The revision in exam dates also applies for the international taxation assessment test to be taken up by ICAI members. The revised dates now are May 14 and 16, 2024.

Some students are of the opinion that holding exams during general election time may come in the way of casting their votes and also in their preparations for the exams, which are seen to be one of the toughest in the world.

Anglo Eastern Group to create job opportunities for Indian youth in merchant navy

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Aimed at generating job opportunities for the youth, the Hong Kong-based ship management firm Anglo Eastern Group is planning a maritime awareness campaign for Indian students as part of its 50thanniversary celebrations this year.  

The company, a major employer of Indian seafarers, has proposed to connect schools and colleges in cities in Kerala, Tamil Nadu, Karnataka to create awareness among boys and girls about lucrative careers in merchant navy.

Vineet Gupta, managing director of Anglo Eastern Group’s India-based arm, Anglo Eastern Ship Management India, said the company plans to contact many academic institutions and schools across the country in the current academic year to source potential navigators and marine engineers and get them trained at Anglo Eastern Maritime Academy that guarantees placement aboard our cargo ships to the students who complete their pre-sea training.

India, according to him, is the youngest nation in the world, with over 66 per cent of its population under the age bracket of 18-35 years today. A good portion of the youth is well-educated and proficient in English, which makes them ready to take up roles in many global industries, including a highly paid career in merchant shipping. The demand for Indian seafarers is rising at the global level, but the supply is still restricted, he said.   

Around 7 to 8 million young people are added to the labour force in India each year, he said adding that there is no worry of job security for competent Indian seafarers as there is high demand for skilled seafarers globally.  

Byju’s vs investors: NCLT defers hearing to June 6

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The Bengaluru Bench of the National Company Law Tribunal (NCLT) has deferred the hearing of the ‘oppression and mismanagement plea’ filed against Byju’s by investors to June 6.

The investors — Peak XV Partners, General Atlantic, Chan-Zuckerberg Initiative and Prosus — have accused the embattled edtech of using some of the funds raised during the rights issue in violation of a NCLT order dated February 27.

The investor side alleged that Byju’s had not deposited the money it had received from rights issue prior to February 27 in the escrow account. They also alleged that the company has allotted shares to those who participated in the rights issue, which was against the court’s order to maintain the status quo of the shareholding pattern.

  • Also read: Byju’s pays partial salaries for March amid legal struggles

However, Byju’s denied the allegations made by the iinvestors regarding violation of the court order.

The NCLT had directed Byju’s to keep the proceeds of the rights issue in an escrow account to protect investors’ right. The tribunal had also asked the company to not allot shares to investors participating in the rights issue without increasing its authorised share capital.

While the tribunal had shown inclination to direct Byju’s to file an affidavit, it did not do so since the investors had not filed any application. The investors were directed to file either an application or an affidavit to put their claims on record in a week’s time. Byju’s lawyers said they would file a response in two weeks from then.

The NCLT also reprimanded the founders of Think and Learn, parent of Byju’s, for delay in filing their reply to the petition despite two weeks granted in February.

On Monday, Byju’s has paid partial salaries to employees for March, reported businessline. Byju Raveendran, founder and CEO of Think and Learn, has raised debt in his personal capacity to pay the salaries of employees for March.

TAPMI hosts 38th annual graduation ceremony

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A total of 510 students from the 2022-24 batch of TA Pai Management Institute (TAPMI) graduated at the 38th annual graduation ceremony in Manipal. Of them, 364 students were from the flagship MBA course, 52 students from MBA (Banking and Financial Services), 49 from MBA (Human Resources Management), 24 students from MBA (Marketing), and 21 students from MBA (International Business).

The first degree was conferred posthumously to Jashwini H Reddy (MBA -Banking and Financial Services), who died in a road accident. The gathering observed a minute’s silence as a mark of respect.

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A media statement said that the ceremony was graced by Guest of Honour Rajiv Mirwani, Managing Director (Financial Products), South Asia, Bloomberg LP. During the ceremony, Mirwani delivered the convocation address and conferred degrees and special awards to students who have demonstrated academic excellence.

TAPMI is a business school under the Manipal Academy of Higher Education (MAHE).

Lt General MD Venkatesh, Vice-Chancellor of MAHE, presided over the convocation ceremony. Rajeev Kumra, Director of TAPMI, delivered the institute report. The TMA Pai gold medal for research excellence was presented to Madhu Veeraraghavan, Pro Vice-Chancellor (Management, Law, Humanities and Social Sciences) of MAHE.

With 100 per cent placement across courses, TAPMI’s graduating batch of 2022-2024 have secured placement offers from reputed companies, including Accenture, Nomura, Cognizant Technologies, TATA Capital, Adani, Deloitte, Infosys, HDFC, ITC, Titan, and Axis Bank, JP Morgan Chase to name a few, the statement said.

IIMA plans certification courses in Hindi, Bengali, Hindi & Tamil

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A year after launching online certification courses, the Indian Institute of Management-Ahmedabad (IIM-A) is now planning to offer similar certification courses in Indian languages including Bengali, Hindi and Tamil.

  • Also read:1/3rd of the new PGPX batch at IIMA comes with international exposure

“We will finish one year of launching online certification courses at the end of this month. I can say we have had a very good start. More than 2.8 lakh students have enrolled in our courses being offered on three online platforms and 12,000 of those have completed their respective course,” Aditya Christopher Moses, chairperson, Asynchronous Learning, IIMA said while speaking to businessline about the open-learning initiative of the institute.

“In the future, the idea is also to launch courses in Indian languages. You need to decolonise education. Why should we stop anyone who is not comfortable in the English language from getting knowledge? Hindi we have started. Going forward we have proposals to launch more courses in Hindi, Tamil and Bengali,” he added.

The confidence to launch more online courses in Indian languages comes after the success of a course titled “Digital Transformation: Theory and Applications” conducted by IIMA professor Pankaj Setia in Hindi, saw an enrollment of 10,000. ‘This is the first course that IIMA is offering in Hindi,’‘ said Professor Moses who is also an assistant professor of Human Resources at the institute.

Right now IIMA offers free of cost courses on three platforms — Coursera, Swayam and Online@IIMA. “Launched a year ago, Online@IIMA marked our entry in the asynchronous learning space, aiming to extend our renowned course to working professionals globally. We have strategically developed courses and specialisations to address the ever evolving needs of today’s business landscape. Besides hosting courses on our platform, partnering with Coursera and Swayam has significantly expanded our reach and the impressive engagement numbers are a testament to our commitment to democratising knowledge through this accessible platform,” Professor Bharat Bhaskar, Director IIMA said.

  • Also read:IIM Ahmedabad to offer courses on real estate

 “The idea is to offer different courses on different platforms. Coursera we are offering five courses, on Swayam we are offering two courses and at Onlline@IIMA we are offering one course. These courses are six weeks long. But there is no time limit for the candidates to complete these courses,’ Professor Moses said. Of the total 2.8 lakh enrollments in these certificate courses, 30,0000 are international learners from 190 countries. The highest enrolment is for a course on “Leadership Skills by Professor Vishal Gupta. This course has an enrollment of 1.47 lakh students.

Byju’s pays partial salaries for March amid legal struggles

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Troubled edtech major Byju’s has paid partial salaries to employees for March, sources told businessline.

This comes weeks after the company had announced the clearing of salary dues after delaying salary payments for March and paying part salaries for February.

“The company has started making salary payments in the range of 100 to 50 per cent to all employees. Teachers and lower salary grade staff have been paid in full while the rest, including senior management, have received at least 50 per cent of their dues for March,” the sources said.

  • Also read: Byju’s holds off salaries for second time in a row amid legal disputes

The company’s monthly salary burn is around ₹45-50 crore, the sources noted. The teachers and teaching support staff are the backbone for Byju’s and hence their salaries are paid in priority, the sources added.

It is to be noted that Byju’s is yet to clear salaries for the second half of February. The company had disbursed a part of the pending salaries for all employees for February in the middle of March and said that the balance payment, once it can access the funds from its recently concluded rights issue, is expected. The company said it is following a parallel line of credit to ensure that employee salaries are disbursed by April 8.

This development is before the NCLT hearing on April 23 on the oppression and mismanagement plea filed by four investors — Prosus NV, Peak XV Partners, General Atlantic, and Sofina SA.

  • Also read: Byju’s to delay salaries amid dispute with investors, says Raveendran
Mounting troubles

The cash-strapped company recently handed pink slips to nearly 500 people without serving them a notice period, or without putting them on a performance improvement plan (PIP).

Recently, the company concluded its extraordinary general meeting (EGM) to increase authorised share capital with no objections raised on the resolutions discussed, reported businessline.

While Arjun Mohan, the CEO of Byju’s India, resigned from his position a little over six months after he took over, with founder Byju Raveendran resuming daily operational responsibilities, reported businessline. Mohan will transition to an external advisory role.

IIT Madras sets ambitious goal of incubating 100 start-ups in one year: Director V Kamakoti

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IIT Madras has set an ambitious target of incubating 100 start-ups for the next year, with a start-up once every three days, said its director, V Kamakoti. “I will keep emphasising the target of 100 start ups at every given opportunity,” he said at the 65th Institute Day of IIT Madras on Saturday.

  • Also read:IIT Madras launches Research Foundation to drive its global aspirations

“This year, we had a lot of targets in mind. The target No 1 was one patent a day. We wanted 366 patents to be filed in the last one year but crossed 370. The number of patents granted crossed 400. It is innovation and protection of our IPs that are going to make India a superpower,” he said in his presidential address.

IIT Madras’ BS Data Science and Electronic Systems programs have crossed, enrolling more than 26,000 students in different parts of this ‘Multiple-Entry, Multiple-Exit’ program. This year, the institute must aspire to reach 30,000 students so that within the next two to three years, IIT Madras should have a total of 50,000 enrolled as part of the higher education system. This will include 12,500 students on campus and more than 37,000 in online mode, he said.

V. Sumantran, Chairman of the Board of Directors of InterGlobe Aviation Ltd. (IndiGo Airlines), in his speech said India is slowly becoming a convenient hub for travel between South East Asia and the Middle East. If someone is travelling from Bangkok to Jeddah, the traveller can use one of the Indian airports as a hub and transit, said

India is moving forward with a lot more speed, with infrastructure in the system growing quickly. The country has around 140 operating airports and will increase to around 220 by the year 2030. “We are seeing a huge increase in regional travel and beyond the domestic,” he said addressing the IIT Madras’ 65 Institute Day.

We can see a huge amount of growth coming out of this. Last year in Paris (Air Show), we placed an order for 500 aircraft, which is the single largest aircraft order in aviation history, counting by the number of aircraft ordered , said Sumantran, Chairman of Celeris Technologies, and an alumnus of the 1981 batch of BTech in Aeronautical Engineering and a Distinguished Alumnus of IIT Madras.

  • Also read:IIT Madras launches Mobility and Intelligent Transportation collaborative

“India offers a phenomenal platform. For a sustainable world, India can offer lessons on how to grow with responsibility – Achieve more with less and secondly, well before even 2047, many of our enterprises can be globally successful,” he said.

IIT Madras sets ambitious goal of incubating 100 start-ups in one year: Director V Kamakoti

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IIT Madras has set an ambitious target of incubating 100 start-ups for the next year, with a start-up once every three days, said its director, V Kamakoti. “I will keep emphasising the target of 100 start ups at every given opportunity,” he said at the 65th Institute Day of IIT Madras on Saturday.

“This year, we had a lot of targets in mind. The target No 1 was one patent a day. We wanted 366 patents to be filed in the last one year but crossed 370. The number of patents granted crossed 400. It is innovation and protection of our IPs that are going to make India a superpower,” he said in his presidential address.

IIT Madras’ BS Data Science and Electronic Systems programs have crossed, enrolling more than 26,000 students in different parts of this ‘Multiple-Entry, Multiple-Exit’ program. This year, the institute must aspire to reach 30,000 students so that within the next two to three years, IIT Madras should have a total of 50,000 enrolled as part of the higher education system. This will include 12,500 students on campus and more than 37,000 in online mode, he said.

V. Sumantran, Chairman of the Board of Directors of InterGlobe Aviation Ltd. (IndiGo Airlines), in his speech said India is slowly becoming a convenient hub for travel between South East Asia and the Middle East. If someone is travelling from Bangkok to Jeddah, the traveller can use one of the Indian airports as a hub and transit, said

India is moving forward with a lot more speed, with infrastructure in the system growing quickly. The country has around 140 operating airports and will increase to around 220 by the year 2030. “We are seeing a huge increase in regional travel and beyond the domestic,” he said addressing the IIT Madras’ 65 Institute Day.

We can see a huge amount of growth coming out of this. Last year in Paris (Air Show), we placed an order for 500 aircraft, which is the single largest aircraft order in aviation history, counting by the number of aircraft ordered , said Sumantran, Chairman of Celeris Technologies, and an alumnus of the 1981 batch of BTech in Aeronautical Engineering and a Distinguished Alumnus of IIT Madras.

“India offers a phenomenal platform. For a sustainable world, India can offer lessons on how to grow with responsibility – Achieve more with less and secondly, well before even 2047, many of our enterprises can be globally successful,” he said.

1/3rd of new PGPX batch at IIMA comes with international exposure

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More than one-third of the 158 qualified professionals who were welcomed into the 2024-25 batch of one-year full-time MBA (PGPX) at the Indian Institute of Management Ahmedabad (IIMA) on Thursday, have international exposure in work or studies.

The 19th batch of the PGPX consists of 117 (74 per cent) male students and 41 (26 per cent) female students from around 19 states and UTs, including Maharashtra, Delhi, Karnataka, Uttar Pradesh, Haryana, West Bengal and Gujarat, among others. Three students in the batch hail from foreign countries i.e. USA, Germany, and Nepal, stated an official release.

  • Also read: Indian Institute of Management Ahmedabad launches new 2-year online MBA programme

The new batch comes with an average work experience of 7.6 years and an average age of 30 years and 11 months. The highest number of students in this batch have joined from IT Products (19); Government Enterprises and Public Sector Undertaking (17); Consulting (17); Manufacturing/Engineering (16); Banking, Financial services and Insurance (13); Energy and Utilities (12); Pharma/Bio-Tech/Healthcare/Hospitals (9); Defence and Security (9); Retail/Ecommerce (7); and IT & ITeS (5), the release added.

IIIT Hyderabad adds dual programme in Computer Sciences and Geospatial Research 

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In Geospatial Technology, the International Institute of Information Technology, Hyderabad (IIIT) has announced an addition of two new courses: B.Tech. (Hons) in Computer Science and Master of Sciences in domain areas by Research (CGD), for the academic year 2024-25. 

The CGD programme will equip students with expertise in the geospatial industry, addressing myriad issues in multiple disciplines, using cutting-edge technology and accurate computing skills combined with geospatial knowledge. The course is launched with a longitudinal vision of bolstering academic research in India for Geospatial Science and Technology, per the National Geospatial Policy (NGP), 2022. It recognises the enhancement of research and manpower on emerging technologies, including Geospatial Technology with 4th Industrial Revolution Technology. 

IIIT Hyderabad
| Photo Credit: MOHAMMED YOUSUF

The course is recognised by the United Nations Integrated Geospatial Information Framework (IGIF), of which India is a key member and identifies capacity building and innovation in research as a key pillar of growth in the development and adoption of Geospatial Technology. 

IIITH’s dual degree is aimed at offering multiple skill sets and a comprehensive education in Geospatial Technology and Computer Sciences. The course is designed to help students juggle with challenges at the forefront of technology and innovation. 

Byju’s India CEO Arjun Mohan resigns, Raveendran to head daily ops

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Arjun Mohan, the CEO of Byju’s India, has resigned from his position in a little over six months after he took over, with founder Byju Raveendran resuming daily operational responsibilities, the company said in a statement. Mohan will transition to an external advisory role.

This is a significant step as the embattled edtech Byju’s is grappling with multiple issues that have plagued the company for the past year.

Mohan will step down to pursue other opportunities, as the business has contracted and Byju Raveendran will handle more day-to-day operations for the India business, housed under Think & Learn. Raveendran would be returning to the top of daily affairs after nearly four years.

  • Also read: Byju’s rights issue: NCLT members divided on interim order, refers case to president

“Arjun has done an outstanding job steering Byju’s through a challenging period,” Raveendran said, adding, “We are grateful for his leadership and look forward to his continued contributions as a strategic advisor.”

Mohan had replaced Mrinal Mohit last year as the company CEO. Both of them were former students of Raveendran.

The rejig comes at a time when the company has consolidated its operations into three focused divisions – The Learning App, Online Classes & Tuition Centres, and Test-prep. Each of these units will have separate leaders who will independently run the businesses to ensure profitability as the company continues to battle severe cash crunch issues.

  • Also read: Byju’s holds off salaries for second time in a row amid legal disputes

“This reorganisation marks the start of Byju’s 3.0 — a leaner and more agile organisation, ready to quickly adapt to evolving market dynamics, especially in the realm of hyper-personalised education,” Raveendran added.

Byju’s rights issue

In a major relief to the edtech company, the majority of shareholders of Think and Learn, parent company of Byju’s, has approved the company’s resolution to increase its authorised share capital.

In a statement, the company said that the voting process, which included both the extraordinary general meeting (EGM) and a postal ballot that concluded on April 6, has been duly scrutinised by an independent third party.

“We are grateful to our investors for their support and understanding during this pivotal phase. Their invaluable support in providing essential working capital underscores their collective commitment to our renewed growth push,” said Raveendran.

The shareholder approval marks a significant threshold in our relentless push to turnaround the business beset with multiple challenges, which we are resolving one by one, slowly but surely,” he added.

Cash crunch

Byju’s is grappling with a tight liquidity situation. The company has given up its office spaces, taken multiple rounds of layoffs. Under Mohan’s leadership, restructuring was a major task, during which the company had laid-off nearly 5,000 employees.

The company is also facing challenges with its investors, as four of the company’s investors had approached the National Company Law Tribunal (NCLT). The NCLT directed the edtech company to keep funds received from the rights issue in an escrow account until the disposal of the oppression and mismanagement plea filed by investors. The investors are Prosus, General Atlantic, Sofina, and Peak XV — along with support from other shareholders, including Tiger and Owl Ventures.

On April 8, Byju’s began salary payments after a two-month delay, even though it is barred from using proceeds of the rights issue.

MAHE, Vrtta Green Solutions ink pact for innovation in environmental engineering

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Manipal Academy of Higher Education (MAHE) and Vrtta Green Solutions, a Montreal-based environmental engineering firm, have signed a memorandum of understanding (MoU) to spearhead innovation in environmental engineering.

Through the MoU, MAHE and Vrtta Green Solutions pledge to offer paid internships for Master’s students specialising in Environmental Engineering, Data Science, and other related domains providing them with opportunities to gain hands-on experience, delve into research, and contribute to real-world sustainability initiatives.

  • Also read: MAHE’s ‘QS World University Ranking’ improves in ‘Life Sciences’; ranks 317

Quoting Narayan Sabhahit, Pro Vice-Chancellor (Technology and Science) at MAHE, a media statement said this partnership signifies a profound commitment to excellence in environmental engineering education. “By offering paid internships, we aim to empower our students with the practical skills and experiences necessary to address the complex sustainability challenges of the 21st century,” he said.

Anil Rana, Director of Manipal Institute of Technology, said, “At MAHE, we believe in the power of collaboration to drive positive change. This partnership with Vrtta Green Solutions exemplifies our dedication to bridging the gap between academia and industry, equipping our students with the tools they need to become leaders in the field of environmental engineering.”

  • Also read: MAHE, ICMR launch initiative to use drones for oncopathological sample transportation

Swaroop SV, Director of Vrtta Green Solutions, said, “We are pleased to partner with MAHE in our shared mission to develop sustainable solutions for a better future. By providing students with hands-on experience and mentorship, we hope to inspire the next generation of environmental engineers to think boldly and act decisively in addressing global sustainability challenges.”

ISB introduces curriculum review for a more customised PGP

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To tackle the dynamic industrial shift, the Indian School of Business (ISB) has introduced a curricular makeover in its Post Graduate Programme (PGP). 

  • Also read: ISB brings in AI, increases flexibility of curriculum to tackle the changing business environment

In a statement issued here on Monday, it said that the redesign comes with a three-pronged focus on – flexibility in the course structure, an adaptive programme catering to students from diverse backgrounds and the ability to customise the course, as per industry requirements. 

It has set up a Centre for Learning and Teaching Excellence to supervise the teaching standard, curriculum design and an upgrade in quality. The programme with a reduced set of core courses allows increased flexibility in choosing elective courses to cater to the diversity in the PG cohort. The customisation facility comes with a bucket of elective courses that contribute to 60 per cent of the PG programme, the statement said. T

The courses are reduced to 14, out of which 4 are shifted to the elective course list and are crafted in cognizance of the rapidly changing business landscape, such as Artificial intelligence and Machine learning. The business school has restructured the one-year programme from standard six-week blocks to a four-week block and the remainder space for numerous short-term courses. 

The school has laid emphasis on enhancing its Analytics curriculum to align with the demands of today’s data-driven business landscape. Among new courses would be those covering innovative technologies. Elective offerings include Artificial Intelligence (AI) and Machine Learning (ML).

Additionally, ISB’s Office of Experiential Learning will offer immersive experiences that bridge theory with practice through activities such as field immersions and industry-sponsored projects. This holistic approach aligns with prominent global trends and is informed by a thorough study of the learning landscape by ISB.

ISB brings in AI, increases flexibility of curriculum to tackle the changing business environment

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In a major initiative, the Indian School of Business (ISB) is now getting future-ready with significant changes in its curriculum in the backdrop of technological advancements like Artificial Intelligence (AI) and the changing business environment.

  • Also read: IIT Madras launches Research Foundation to drive its global aspirations

“While our curriculum remained dynamic for the last decades, what we are bringing in now from the post-graduate Programme is the first major paradigm shift for ISB,’‘ Madan M Pillutla, Dean, ISB told businessline

ISB is bringing in some structural changes based on an extensive exercise including feedback from the students, alumni and recruiters. 

One of the three major objectives of the change is to have more flexibility in programmes to suit the vast diversity of the students. 

“We are one of the rare schools where we have a diverse pool of students. For example, in this new incoming batch this year, we have a national badminton champion, defence personnel, IAS officers, and young scientist as well corporate honchos. They will curate their own experiences at ISB and graduate at the end with different takeaways to cater to their diverse needs,” the Dean said. 

To suit diverse business requirements, ISB has brought in more flexibility in programmes. Till now nearly 50 per cent of the course has a fixed component while the rest is electives. Now the fixed core Programme portion has been reduced to increase flexibility.

  • Also read: Wipro collaborates with IISc to offer MTech in AI to its employees

As of date, 819 students have registered for the PGP Class of 2025 at ISB. Out of these, the number of women students account for 47 per cent (up from 40 per cent last year. While 53 per cent are engineers and 47 per cent are from non-engineering backgrounds. 

According to Pillutla, the dynamics of learning have been changing. Unlike earlier, learning now is a constant process. “The second aspect of curriculum change is fostering learnability as per market needs. Thirdly, we want to build renewability. We are retiring the old electives and bringing in new ones,’’ he said.

Based on research, ISB is now driving experiential learning. “Instead of purely lecture-based courses, if students are experiencing something in the class, learning will be more immersive.

ISB has also directed its faculty to make the courses experiential learning-based on a host of activities such as projects.

Why change now?

One of the biggest triggers for curriculum change at ISB are technological shifts and the changes in business practices, the Dean said, “These are the impetus that made us ponder over the changes for almost a year. We have now entered a period of uncertainty. When we can’t predict the shape of the landscape, variety in learning makes our students job-ready,.’‘

MAHE’s ‘QS World University Ranking’ improves in ‘Life Sciences’; ranks 317

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The ranking of Manipal Academy of Higher Education (MAHE) in the broad subject of ‘Life Sciences’ stood at 317 in ‘QS World University Ranking 2024’. In 2023, MAHE’s ranking was at 368.

A media statement said 2024’s ranking is an improvement of 51 places from last year’s rank.

In ‘Medicine’ subject, MAHE has been placed in 201-250 band in 2024. It was placed in 251-300 band in 2023.

  • Also read: MAHE, ICMR launch initiative to use drones for oncopathological sample transportation

As compared to the 2023 ranking, three narrow subjects have been ranked under the 200 band in 2024. They are: ‘Dentistry’ in 51-100 band, ‘Anatomy and Physiology’ in 101-150 band, and ‘Pharmacy and Pharmacology’ in 151-200 band.

Of the 100 universities ranked under ‘Dentistry’ in Quacquarelli Symonds World University Ranking 2024, only two universities are from India. MAHE is one of them, it said.

The 20th edition of the ‘QS World University Rankings’ features 1,500 institutions across 104 locations, the statement said.

Sachidananda Mohanty appointed as member, UGC

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Sachidananda Mohanty, former Professor and Head of the Department of English, University of Hyderabad and former Vice­ Chancellor of Central University of Odisha, has been appointed as Member, University Grants Commission (UGC) for three years with immediate effect. 

  • Also read:UGC enriches higher education with short term industry courses

The Ministry of Higher Education, Government of India, issued a gazette notification on the appointment.

 In a career spanning more than three decades, Mohanty has received many distinctions in the field of education and culture, nationally and internationally. He is a former Professor and Head of the Department of English, University of Hyderabad and former Vice­ Chancellor of Central University of Odisha. 

Winner of many national and international awards such as the Katha, British Council, Fulbright(twice), Charles Wallace and the Salzburg, he has published extensively in the field of British, American, gender, translation and Post-Colonial studies. His books have appeared in Oxford, Sage, Routledge and Orient Ĺongman, among other notable publishing houses. 

He was a member of India’s Education Commission to the UNESCO and Governing Board member of Auroville Foundation. He is the son of late Bidyut Prabha Devi, renowned poet of Odisha and late Panchanan Mohanty, financial advisor to the Government of Odisha.

Edtech start-up Scaler lays off nearly 150 employees

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Bengaluru-based edtech start-up Scaler has laid off nearly 150 employees across its marketing and sales functions, according to sources in the know.

The company, which confirmed the development, attributed the job cuts to its need for long-term growth and sustainability. It said that the decision was not performance-driven.

“As part of this restructuring, we identified some functions/roles, primarily in marketing and sales, that we had to part ways with. I want to reiterate that this was not a performance-driven decision and assure all those affected are provided with the necessary support to ensure a smooth transition,” said Abhimanyu Saxena, Co-Founder, Scaler and InterviewBit.

  • Also read: How AI and allied trends will transform the EdTech universe in 2024
Acquisition spree

This comes almost a year after the start-up acquired Delhi-based Pepcoding for an undisclosed amount to strengthen its business ecosystem. This is the fourth acquisition by Scaler, following the buyouts of AppliedRoots, Coding Minutes and Coding Elements. The start-up acquired AppliedRoots for a whopping $50 million in 2022.

Founded in 2014 by Anshuman Singh and Saxena, Scaler offers high-quality technical education by tech leaders and subject matter experts.

In 2023, the edtech launched Scaler School of Technology, a four-year residential undergraduate computer science programme designed for the next generation of India’s software professionals.

Till date, the company has raised over $76 million in funding. It had last raised $55 million in a Series B funding round led by Lightrock India, along with Peak XV Partners and Tiger Global, among others. The round valued the start-up at over $700 million.

The start-up’s loss surged 90 per cent year-on-year to ₹330 crore, while the revenue increased to ₹318 crore. In FY23, the start-up’s advertising expenditure increased to ₹143.3 crore. 

Kinetic Group inaugurates Arun Firodia Research Floor at IIT Powai

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Arun Firodia, an alumnus of IIT Bombay, has significantly influenced India’s engineering and automotive landscape, epitomising innovation, entrepreneurship and a steadfast commitment to advancing engineering education.

  • Also read:Kinetic reports 125% jump in gross profit

Speaking about the occasion, Arun Firodia said, “My education at IIT instilled in me a belief in innovation and the ‘Make in India’ ethos, which has been fundamental to my journey and that of the Kinetic Group. I express my gratitude to my Alma Mater and offer my best wishes to the future engineers of India, who will certainly play a significant role in shaping the world.”

Subhasis Chaudhuri, Director, IIT Bombay said, “Our distinguished Alumnus, Dr. Firodia, is a true pioneer and we are proud of him. Naming this floor after him symbolises our deep appreciation of his contribution to IIT and the engineering field and reaffirms our commitment to fostering a culture of excellence and innovation at IIT Bombay”.

IIT Madras launches Research Foundation to drive its global aspirations

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Indian Institute of Technology Madras (IIT Madras) is launching the IIT Madras Research Foundation (IITMRF) to drive its global aspirations. It will be a catalyst for start-ups coming out of the Institute’s tech ecosystem landscape to access the global markets, capital, funding for research & innovation, scaling its Academic Master’s and Doctoral Programs through strategic University Collaborations as well as Industry Partnerships.

The institute has appointed Thirumalai Madhavnarayan, a senior business management and technology professional, as the first CEO of IITMRF, says a release.

The ‘IIT Madras Research Foundation’ is being set up with a vision to expand IIT Madras’ global footprint, drive growth in Innovation and Entrepreneurship and increase engagement with Industry and R&D partnerships.

The Key focus areas of the foundation will include patents and technologies ready for commercialisation; start-ups established by IITM faculty founders, students and researchers; explorations based on market thesis (e.g., Green growth); giving global access to Start-ups from the IIT Madras ecosystem and providing them exposure to new markets, capital & technological adjacencies and access to IIT Madras-created technologies for alumni.

Madhav Narayan said the IITMRF would be a scalable and sustainable ‘plug and play’ platform with local flavour, to take IIT Madras assets global, fuelling exponential growth in innovation & entrepreneurship, enhanced Industry Engagement and R&D partnerships.”

Aakash Institute appoints Deepak Mehrotra as Managing Director

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Byju’s-owned coaching institute Aakash Institute has appointed Deepak Mehrotra as its Managing Director and Chief Executive Office.

Mehrotra has over 35 years of experience in executive roles across sectors such as telecom education, FMCG and others. Prior to joining Aakash, he was the MD at Ashirvad Pipes and has also worked at Pearson India, Bharti Airtel, Coca-Cola, and Asian Paints.

This comes nearly seven months after the position fell vacant when the former CEO and CFO of Aakash called it quits last September.

The embattled edtech major had acquired Aakash in April 2021 in an equity and cash deal. The deal had a 70 per cent cash component and 30 per cent equity component, which means that promoters of Aakash and private equity firm Blackstone, which holds about 12 per cent in the company, would have got shares of Byju’s parent Think & Learn.

In September 2023, the CEO Abhishek Maheshwari and CFO Vipan Joshi resigned amid a shareholder tussle as Byju’s negotiated an equity swap for the Aakash deal with the Chaudhry family and Blackstone.

businessline reported that Ranjan Pai, the chairman of Manipal group, owns 40 per cent in Aakash and has pumped in additional capital for daily operations as well. Pai is the largest investor in Aakash Institute.

The joining of Mehrotra is joining Aakash at a time when the parent entity Byju’s is facing financial strain with the company unable to afford salaries and regular operations. Byju’s has also run into a series of troubles with its stakeholders, including its board, investors, employees and Board of Control for Cricket in India and the Enforcement Directorate.

Recently, Pai has moved the Singapore arbitration council (Singapore International Arbitration Centre) over a $42-million loan sanctioned to Think and Learn. Pai played a key role in resolving Davidson Kempner debt issue for Raveendran last year.

IIT-M start-up Planys Technologies raises ₹43 crore in round led by investor Ashish Kacholia

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Underwater infrastructure testing start-up Planys Technologies has raised ₹43 crore in equity funding led by investor Ashish Kacholia. Samarthya Advisors, Golden Birch Investments, Cogniphy Angel Fund, Krishna Defence, and Impact India Investment Partners LLC also participated in the funding round. Some existing investors also participated in the round, which saw exits from many first-round seed investors.

Founded in 2015 by IIT-Madras alumni and faculty, including Tanuj Jhunjhunwala, Vineet Upadhyay, Prof Prabhu Rajagopal and Krishnan Balasubramanian, Planys is a deep tech start-up that emerged as a spin-out from the Centre for Non-Destructive Evaluation at IIT-M. It was then incubated at IIT Madras’ Incubation Cell and officially incorporated in June 2015.

“Our product, which began as a pipeline inspection robot, has evolved to have use cases across sectors. We have added more features in the underwater inspection area and towards data analytics and reporting,” Tanuj Jhunjhunwala, co-founder, Planys, told businessline. “We are also in the protoype stage for our underwater drone for the defence sector and will continue to focus on this use case,” he added. Planys is part of the Centre’s defence innovation framework IDEX and is supported by their grant and support for defence use cases.

The investment will also go towards adding more features around infrastructure inspections through advancements in marine robotics, global expansion, and in strengthening digital analytics and reporting platforms, the company said in a release.

“We intend to grow our operational capacity and enhance the inventory of underwater inspection solutions, covering high-end applications such as non-destructive testing of metal and concrete structures, specialised inspection robotics for the process and hydrocarbon industry, real-time monitoring applications, and advanced digital reporting solutions,” the company’s Chief Technology Officer, Vineet Upadhyay, said.

IIT-M professor Prabhu Rajagopal, who is a co-founder and mentor to Planys, notes that despite challenges in scaling academic projects into commercial establishments, Planys has both a team of driven entrepreneurs and product-market fit that has ensured growth and evolution over the years.

“Planys addresses a large market of underwater asset maintenance with its technology that pinpoints defects with precision, benefiting high-value assets such as dams, bridges, and refineries, to extend their asset life with timely maintenance,” investor Kacholia said in a statement.

Bahwan Cybertech announces ₹25-lakh scholarship for Ethiraj College students

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The Bahwan Cybertech Group announced a scholarship fund of ₹25-lakh to support the students at Ethiraj College for Women on Friday.

The proposed scholarship fund will be dedicated to supporting the academic and sporting aspirations of deserving students, said VM Muralidharan, Chairman, Ethiraj College Trust, and Chief Operating Officer, Bahwan Cybertech Group during the 76th College Day celebrations of Ethiraj College for Women on Friday.

‘Women’s education’

Aravindan Selvaraj, Co-founder and Executive Director of Kauvery Hospitals said: ‘Women’s education is key to ensure dignity in the society.” He also recalled the philanthropic contribution of the visionary founder of the College VL Ethiraj to the social cause of women’s education and empowerment.

From 96 students in 1948, Ethiraj College for Women has grown to over 7,800 students today. It has been granted the “college with potential for excellence” status by UGC and has been re-accredited with an “A+” grade by the National Assessment and Accreditation Council.

MICA adds sports business specialisation in curriculum

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With the sports ecosystem evolving in the country, MICA — a B-school in Ahmedabad — on Thursday said it has added a sports business specialisation to its curriculum. 

The B-school has renamed one of the most prominent areas, ‘Media and Entertainment Management’ to ‘Media Entertainment and Sports’, which will now offer multiple courses, including sports business, gaming, and e-Sports, to name a few, an official release said.

Dr Shailendra Raj Mehta, President & Director of MICA, said: “The transformation of the Indian sports ecosystem is happening rapidly. Emerging trends such as virtual reality experiences, e-sports, and digital streaming revolutionise how sports is played, consumed, and monetised. MICA’s move to re-orient our specialisation will ensure our students stay ahead of the curve.” 

Dr. Githa Heggde, Dean of MICA, Ahmedabad, said the rapidly evolving sports sector in India will need professionals with a comprehensive understanding of sports business models and a diverse skill set, and this approach will not only add value for stakeholders, but unlock numerous professional opportunities for students.

Professor Santosh Kumar Patra, Head, Media Entertainment and Sports Management, said: “Twenty-five per cent of the total business classified under experiential business is primarily driven by sports, gaming, live events, and categories allied to these segments. Sports as a sector is not only growing exponentially in India, but also growing beyond cricket. As a young sports nation and a new experience-driven category of entertainment business, it requires special knowledge and skill to manage the business. Considering the need of the growing industry trends and after getting inputs from multiple stakeholders, including alumni, the advisory committee, and industry leaders, we decided to re-orient our focus to sports business in India”.   

IIT Madras launches Mobility and Intelligent Transportation collaborative

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Indian Institute of Technology Madras (IIT Madras) has launched the ‘Mobility and Intelligent Transportation’ (MInT) collaborative towards building a global mobility digital infrastructure. Neeraj Mittal, Secretary, Department of Telecommunications, virtually launched the Collaborative on Thursday.

  • Also read:Student innovations for sustainability challenges awarded at IIT-Madras

The initiative is based on the principle of ‘collaborate and compete’ under which the Institute will bring together industry competitors, government agencies and academic innovators and co-create the mobility digital infrastructure (Bharat Multi-Modal Mobility Stack or BM3S) to enable holistic system solutions.

MInT is a global initiative to build mobility digital infrastructure and an R&D portfolio besides developing a skilled workforce to develop breakthrough mobility solutions to realise the United Nations’ Sustainable Development Goals (SDGs).

IIT Madras will anchor the MInT Collaborative with its world-leading technological and human resources in numerous fields. Mobility is a key example where a meeting of diverse minds is essential to finding holistic solutions that enhance positive outcomes while minimising or even eliminating possible negative externalities, says a release.

Edtech start-up Guvi launches Large Language Models for vernacular learners

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HCL group company and edtech startup GUVI has launched Large Language Model (LLM) features on its platform that helps users from diverse linguistic backgrounds to learn concepts in their ‘colloquial’ language. 

The AI-enabled platform has the capability where users can upload course video in English language and get it translated in preferred colloquial language.

It also has features for customised learning meeting specific needs and preferences of learners. As a result, unlike traditional AI models, GUVI will allow users to engage with AI in their native language -even colloquial ones such as ‘Tanglish’ – for a seamless learning experience, says a release.

  • Also read: Byju’s holds off salaries for second time in a row amid legal disputes

GUVI, originally born in IIT-Madras as a platform offering tech education in regional languages, helps students to learn in their mother tongues and also offers specialised IT courses to upskill and make them job ready. It already has over 2.5 million learners and expects the new LLM feature to empower more students from tier-2 and tier-3 locations in technology concepts. 

“We recognise the significance of linguistic diversity in education particularly in a country as diverse as India. By leveraging ChatGPT and colloquial data sets, we are ensuring that the AI understands and responds to users in their colloquial language, fostering inclusivity and accessibility in education while celebrating India’s linguistic heritage,” Guvi CEO Arun Prakash said. 

  • Also read: Not all is doom in the edtech sector

At present, GUVI’s LLM will be available in the following vernacular languages – Tamil, Hindi, Telugu, Malayalam and Kannada. The company plans to come out with more vernacular languages in the near future. The LLM has been made available for users free of cost in the immediate future, says a release.

Byju’s rights issue: NCLT members divided on interim order, refers case to president

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The Bengaluru bench of the National Company Law Tribunal (NCLT) has referred the case of embattled edtech Byju’s rights issue to the president of the tribunal owing to a difference of opinion between the members of the Bengaluru bench.

The president of NCLT is now likely to allocate the case to a third member of the NCLT to hear the interim application again. The two-member NCLT benches usually have a judicial and a technical member. Since, the Bengaluru NCLT has just one bench and hence a third member from another bench of the tribunal is expected to be allocated the case.  

  • Also read: Byju’s EGM concludes without objections to increase in share capital

This comes at a time when the company recently concluded its extraordinary general meeting (EGM) to increase the company’s authorised share capital, reported businessline. Byju Raveendran also wrote to the dissenting shareholders to participate in the right issue. However, none of the dissenting investors have participated in the rights issue, post the the 72-hour deadline.

The NCLT Bengaluru bench had earlier refused to stay the EGM but told the edtech firm that any resolution passed can’t be implemented before the next hearing scheduled on April 4.

In February, NCLT directed Byju’s to keep funds received from the rights issue in an escrow account till the disposal of the oppression and mismanagement plea filed by investors –Peak XV Partners, General Atlantic, Prosus.

The tribunal had then directed Byju’s to “consider the extension of the closure date of the right issue so that the rights of the petitioners about the making of applications for shares under their rights entitlement does not get prejudiced.”

  • Also read: Byju’s offers dissenting investors another opportunity to participate in rights issue

On April 2, Byju’s had let go of nearly 500 employees largely across sales and marketing functions, at a time when it is struggling to raise capital for day-to-day operations, reported businessline.

Recently businessline reported that Byju’s had held back salaries for the second month in a row, awaiting a green signal from NCLT to use funds from the rights issue.

“We are writing to you today with a heavy heart but with a message of hope and reassurance. We regret to inform you that there will again be a delay in the disbursement of salaries,” the management said in an email to employees.

Byju’s hands out pink slips to over 500 employees without notice period amid financial strain

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Embattled edtech major Byju’s has handed pink slips to nearly 500 people without serving them notice period, or without putting them on a performance improvement plan (PIP), according to the sources.

Some employees have alleged that the company’s human resource executive informed them that the company had decided to terminate employment immediately.

“The HR went on to initiate the exit process immediately and I was informed that my last working day was that very day,” said one the employees who spoke to businessline.

  • Also read: Byju’s EGM concludes without objections to increase in share capital

This restructuring is part of the exercise announced in October 2023 by India CEO Arjun Mohan upon his appointment.

Byju’s spokesperson confirmed the development.

“We are in the final stages of a business restructuring exercise announced in October 2023 to simplify operating structures, reduce the cost base, and better cash flow management. As you are also aware, we are going through an extraordinary situation in the company because of the ongoing litigation with four foreign investors, where every employee and the ecosystem is going through tremendous stress, given the present circumstances,” said the spokesperson

“We regret the unfortunate situation the company has been forced into. Still, it is something that we will put behind us soon with majority investor support for the $200 million rights issue. We request everyone’s understanding of the individual and collective stress on the system, which might be prompting some unforeseen situations for the departing employees,” the spokesperson added.

Byju’s woes

On Monday, Byju’s had decided to hold off its staff salaries for the second month in a row as it awaits the National Company Law Tribunal (NCLT) order to use funds from the proceeds of the rights issue.

The company said it is following a parallel line of credit to ensure that employee salaries are disbursed by April 8.

This is the second time Byju’s has faced the same problem, as it had held back February salaries and later paid a part of the dues to employees in mid-March. The company is yet to pay the remaining February salaries to its staff.

Recently, the company concluded its extraordinary general meeting (EGM) to increase authorised share capital with no objections raised on the resolutions discussed, reported businessline.

  • Also read: Byju’s offers dissenting investors another opportunity to participate in rights issue

Earlier, on March 29, Raveendran, in a letter to shareholders, said that in response to the postal ballot announced on March 7, the company received more than 50 per cent of votes in favour of increasing the authorised share capital.

The voting process for the resolutions discussed in the meeting will go on till April 6. Meanwhile, the next hearing for the plea filed by investors in the NCLT is scheduled for April 4.

India needs 2 lakh company secretaries by 2047: ICSI

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The president of the the Institute of Company Secretaries of India (ICSI), B Narasimhan, on Saturday said that when the Indian economy reaches $30 trillion by 2047 as per the expectations, the country will need two lakh company secretaries. The country currently, has 72,000 company secretaries..

Speaking to the media on the  sidelines of a seminar on ‘Demystifying NCLT Practices’ here on Saturday, Narasimhan said if the India becomes a $30-trillion economy by 2047, as aspired by the Prime Minister Narendra Modi, the requirement of company secretaries will be trippled compared to the current number. 

ICSI enrols 14,000 students every year under various programmes. “We will be doubling the strength this year,’‘ Narasimhan said,  

ICSI recently entered into an MoU with The National Institute of Securities Markets (NISM), a public trust established by the regulator of securities markets in India, Securities and Exchange Board of India (SEBI). 

The MoU marked the continuation of the long-term association between the two institutes that will facilitate and enhance institutional collaboration in the area of capacity building and collaborative programmes in the areas of compliance, securities markets, law and governance, he added.  ICSI has pacts with 141 universities across India.  

SEBI Chairperson at IIM-A: Current generation of Indians on their way to see ‘high noon’ of a new India

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The current generation of Indians is on their way to see the “high noon” of a new India, said Madhabi Puri Buch, chairperson of the Securities and Exchange Board of India (SEBI), said at the 59th annual convocation of the Indian Institute of Management-Ahmedabad (IIM-A) on Saturday evening.

“My generation was a very fortunate generation. We participated in the dawn of a new India. Your generation, in my view, is even more fortunate.,” she told the graduating students of the country’s premier B-school. 

  • Also read: 163 firms make offers to 516 students of IIM Bangalore

“Everywhere there is opportunity for growth, for inclusion, for entrepreneurship, for breaking the mould and leading the world,” she added.

Talking about her career spanning 35 years, Buch said she has a long list of bosses and colleagues, who would testify that she is a “difficult boss and impossible subordinate to work with”.

“Until a problem has been dissected to the last degree I will not give up. My colleagues often tell me that problem solving with me is like peeling an onion. It makes everybody cry in the process. But by the time you are done you suddenly realise there is no problem left. So, when India became the first large market in the world to move to T+1 settlement and just two days ago when we went live with optional T+0 settlement, the process felt pretty much the same. Lots of onion peeling happened, to make for a global first,” she told the gathering.

The SEBI chairperson, who is also an IIM-A alumni, narrated her experience of being a student at the B-school.

“The strongest memory I have of my alma mater is that of feeling like I was inside a pressure cooker for two years. In hindsight, how to deal with being inside a pressure cooker was perhaps one of the most valuable learnings I took away from IIMA,” she said.

  • Also read: IIM Calcutta: 464 students secure 529 offers during final placements for 2022-24 batch of MBA program

Pointing out that she enjoyed the 35 years of her career, Buch said, “The sheer variety of stuff I got to do: creating and building new businesses; being an entrepreneur within the safe harbour of a large organisation, enjoying every ounce of empowerment that we were given. Now, since the last 6.5 years, bringing to bear all that I learnt, to being a regulator, and having the amazing opportunity to create impact — not just at an organisational level, but at ecosystem level. In my wildest dreams, I could not have asked for more.”

Speaking at the ceremony, Chairperson of IIM-A Pankaj Patel said that in the current scenario there was a pressing need for leaders to possess multifaceted skill-sets, far-sightedness and flexibility to navigate through disruptions.

“Today, leaders need to be technically sound and proficient in various facets of business to anticipate disruptions and device predictive business models that can withstand the test of times,” Patel said.

Byju’s $200-mn rights issue on track as NCLT refuses to halt EGM

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The Bengaluru bench of the National Company Law Tribunal (NCLT) on Thursday refused to defer the extraordinary general meeting (EGM) called by the board of edtech major Byju’s to raise authorised capital for its $200-million rights issue.

A group of investors in Byju’s parent, Think & Learn, led by Prosus, had moved NCLT for a stay on the EGM set for March 29.

NCLT has listed the case for April 4, where other issues will be addressed too.

The embattled edtech is attempting to raise funds to tide over a liquidity crisis.

  • Also read: Byju’s investors file caveats in SC
Need for EGM

During the hearing, investors claimed that the EGM has been called to increase the authorised capital of the company and to also amend the memorandum of association. The investor side also argued that once new shares are issued, it cannot be reversed and thus pleaded to obtain a stay on the EGM.

The EGM, to be held on Friday by Byju’s, is essential as the company will need at least 50 per cent votes at the EGM to increase the share capital. If it obtains the majority vote, it can issue shares to new investors for the crucial rights issue.

The tribunal also directed Byju’s to share its cap-table registry sought by investors, which the company said will be made available immediately.

According to the investors, the EGM has been called to defeat the purpose of the NCLT’s order dated February 27.

On February 27, the NCLT directed Byju’s to keep funds received from the rights issue in an escrow account till the disposal of the oppression and mismanagement plea filed by the four investors.

The edtech major had said that its $200-million rights issue – at a 99 per cent discount to its peak valuation of $22 billion – has been fully subscribed.

A section of Byju’s investors — MIH Edtech Investments BV, Peak XV Partners Investments, Sofina SA, and General Atlantic Singapore TL Pte Ltd — has filed caveats at the Supreme Court for a hearing before the court decides on a plea that is likely to be filed against the NCLT order.

Karnataka HC hearing

In a separate hearing, the Karnataka High Court has extended the interim stay on the outcomes of an EGM called by investors, which included a board change at Byju’s parent firm, Think & Learn. The court will hear the matter on May 28.

Byju’s offers dissenting investors another opportunity to participate in rights issue

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In a bid to make a peace offering, Byju Raveendran, founder and CEO of embattled edtech major Byju’s has offered the dissenting investors — Peak XV, Prosus, General Atlantic, Chan-Zuckerberg Initiative a chance to invest in the rights issue, according to a letter sent by him to shareholders on Friday morning.

businessline has seen a letter that Byju Raveendran wrote to investors in this regard.

This is done so that their shareholding is not diluted. He also informed investors that the company has secured more than 50 per cent votes to increase the authorised share capital to account for the $200 million rights issue.

  • Also read: Byju’s $200-mn rights issue on track as NCLT refuses to halt EGM

“As you are aware, we closed the rights issue last month, which was a crucial step towards ensuring the sustainability and growth of our company in these challenging economic conditions. I am happy to inform you that, in response to the postal ballot which was announced on March 7, we already got more than 50 per cent votes to the increase in authorised share capital,” wrote Raveendran in the letter.

He added that despite the ‘animosity shown by some of the investors in pursuing uncalled for legal actions’, the company continues to show ‘good faith’ towards all the shareholders and would like them to be part of the turnaround story.

“While we have received significant interest from third parties, our priority remains with our existing shareholders and hence we are looking at how we can extend this opportunity to all of you,” Raveendran added in his note.

On Thursday, the Bengaluru bench of NCLT refused to stay Byju’s extraordinary general meeting (EGM) scheduled for Friday to increase its authorised share capital for the critical rights issues. Simultaneously, the Karnataka High Court also extended the interim stay on outcomes of an EGM called by investors to remove company founder Byju Raveendran as chief executive officer in February.

Wipro collaborates with IISc to offer MTech in AI to its employees

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Wipro Ltd has collaborated with the Indian Institute of Science (IISc), Bengaluru, to offer eligible employees a higher education program in AI.

The online Master’s in Technology (MTech) course will focus on key areas such as AI, foundations of ML/AI, data science, and business analytics, addressing the growing demand for skilled professionals in these domains, the company has said in its statement.

  • Also read: Wipro GE to invest ₹8,000 crore in India for manufacturing, R&D

Sanjeev Jain, Senior Vice President and Global Head of Business Operations, Wipro, said, “GenAI is evolving at a rapid pace, and we are confident that selected employees will gain immensely from the knowledge at IISc and develop capabilities for the opportunities ahead delivering strong business outcomes.”

As part of this collaboration, selected Wipro employees will have full access to IISc online lectures, libraries, and alumni networks. They will also benefit from mentorship by seasoned professionals from the data, analytics, and AI practice at Wipro.

Professor Rajesh Sundaresan, Dean, Division of EECS, IISc, said, “The program curriculum for working professionals has been designed with the same high standards as our full-time programs, with our faculty members delivering content online to train students on foundational concepts and real-world applications.”

Wipro stock closed higher by 1.63 per cent on the NSE at ₹480 on Thursday’s trade,

163 firms make offers to 516 students of IIM Bangalore 

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The final placements for PGP-BA and PGP 2024 of the Indian Institute of Management Bangalore saw 516 eligible students accepting job offers from 163 firms.

  • Also read: In tough job market, rise in recruiting firms & roles, says IIMA as placements end

The placement week, which ended on February 7, 2024, saw 503 students placed, while 13 students were placed in a subsequent rolling placement process. A record 29 students have been placed abroad with Infosys Consulting (7), Strategy& Middle East (6), Jindal Shadeed (5), TransformationX (3), EY Parthenon Singapore (2), JP Morgan Chase London (2), Health City Cayman Islands (2), Fast Retailing, Japan (1) and Landmark Group, Middle East (1) while 487 students will be working in India. The median annual salary stands at ₹32.5 lakhs.

Prof Ganesh N Prabhu, Chairperson, Career Development Services, IIMB, said, “In a difficult placement year, we are immensely grateful to Accenture as they reposed confidence in IIMB students by making a record of 58 offers across its three units – Global Networks, India Markets Unit and Data & AI.”

Consulting firms made the most offers (218), while offers in finance, banking and investments were 81. IT firms and e-commerce firms made 49 offers each. Manufacturing and infrastructure firms made 36 offers, conglomerates made 30 offers, consumer goods and retail firms made 28 offers. Also, analytics and AI firms made 13 offers and healthcare related firms made 12 offers.

Further, 30 Consulting firms made 218 offers, 30 Finance, Banking, and Investments firms made 81 offers, 23 IT Software/Services/Security made 49 offers, 19 E-commerce/Payments/Telecom firms made 49 offers, 16 Manufacturing/Construction/Energy/Infrastructure made 36 offers, among other sectors.

Veranda Group raises ₹425 crore NCD from BPEA Credit

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Veranda Learning Solutions Ltd, the Chennai-based enterprise offering end-to-end solutions provider in the education space, has received approval to raise funds for an amount up to ₹425 crore by way of issuance of Non-Convertible Debentures (NCDs) to funds managed and arranged by BPEA Investment Managers Private Limited (BPEA Credit).

The NCD is part of a larger fund raise to be completed in the next three to six months. As discussed in its long-term vision, the company will balance the risk profile by raising equity-like instruments in the future. This will be used for further acquisitions and fill gaps in the Veranda ecosystem. The company is expected to complete these acquisitions by the first half of FY25, strengthening its position as a market leader in the education sector, according to a release.

  • Also read: Veranda Learning Solutions reports loss in Q3

Suresh Kalpathi, Executive Director and Chairman of Veranda Learning, stated that the proceeds from the NCD issuance will be instrumental in supporting the company’s expansion plans, enabling it to pursue strategic acquisitions, enhance operational efficiencies, and drive long-term value creation for our stakeholders.

Kanchan Jain, Head of BPEA Credit Group, said the investment is in line with the fund’s objective of participating in growth-oriented businesses and partnering with industry leaders by providing bespoke capital solutions.

Anand Rathi Advisors were the lead bankers who helped in arranging the funds for the company.

  • Also read: RBI directs JM Financial Products to halt financing against shares and debentures

Atul Thakkar, Director, Anand Rathi Investment Banking, said that the Group sees immense potential in this sector and has facilitated transactions exceeding $450 million in FY24 alone, including this deal.

At the time of filing this report, the company’s share price on the NSE closed at ₹185.80, up by 1.45 per cent.