KOLKATA: While the number of students failing to achieve the requisite attendance to appear in university examinations is increasing, Calcutta University is still not in a position to implement the 'Choice-Based Credit System' (CBCS) in humanities and science undergraduate courses. On Monday, pro-VC Dipak Das could not confirm the probability of CBCS, which allots as many as 10 marks in each subject to students' attendance, being implemented from the next academic session. Once CBCS is in place, CU will have to switch to a semester-wise test system. Also, under the CBCS, colleges can reward 20 marks in each subject to students, out of which 10 will be on subject attendance and the remaining on the students' class performance through the year. … [Read more...] about Calcutta University yet to decide on new scoring system
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MUMBAI: Interest among the Indian diaspora (including those based in the US) in acquiring permanent residency in Canada continues unabated. During 2018, over 39,500 Indian citizens obtained permanent residency in Canada under the express entry system (this figure constitutes 43% of the total number). According to recently released statistics, in 2018 Canada admitted more than 92,000 new permanent entry residents through its express entry system, which is a rise of 41% over the previous year. Permanent residency is akin to a green card in the US. In the previous year, 2017, Canada had admitted nearly 65,500 permanent residents under the express entry route, of which 40%, or 26,300 odd, were from India. The number of Indian citizens to be awarded permanent residency in 2018 has increased by 51% from 2017. Interestingly, China, which occupied second rank during 2017, slipped to third rank with only about 5,800 Chinese obtaining permanent residency in 2018. Nigeria occupied second slot. … [Read more...] about 51% jump in desis getting Canadian ‘green card’
The Reserve Bank of India (RBI) has directed all scheduled commercial banks (except regional rural banks), local area banks and small finance banks to link interest rates of all retail loans, including home loans, offered by them, to an external benchmark with effect from October 1, 2019.Complying with this directive, most commercial banks have opted for the RBI's repo rate as the external benchmark to which all floating rate loans are linked. Interest rates linked to the repo rate is called repo rate linked lending rate or RLLR. The RLLR comprises of repo rate plus bank's spread or margin. As per RBI, banks are allowed to charge a spread or margin plus risk premium over and above the external benchmark rate from borrowers.While the spread charged by a particular bank remains same for all borrowers, the risk premium will differ from one individual to another. For instance, it is usually seen that banks charge higher risk premium from self-employed borrowers as compared to salaried … [Read more...] about Top 10 banks’ home loan interest rates
With a number of foreign universities opening their doors to Indian students in recent years, now is a great time to plan your child’s education abroad. From undergraduate programs in new fields to doctorate studies in traditional streams, there is an ocean of opportunities waiting to be explored. Apart from the learning in the classroom, education programmes abroad also expose your child to new experiences, cultures, and more, while adding serious weight to their CVs. But living in a foreign country – with tuition fees, books and stationery, living expenses and more – is expensive. A recent report published in The Economic Times states, to maintain the standard of life that Rs.1 lakh offers in Delhi, you will need Rs.5.3 lakh if your child is to study in New York. And it may not always be wise to dip into your savings account to cover the costs of studying abroad. Student loans or higher education loan may be the first choice for many; but an alternative solution … [Read more...] about Should You Choose a Personal Loan to Manage Your Child’s Education Abroad?
In an attempt to slacken, regulate and enhance the financial lending industry in India, multiple measures have been deployed by the government to facilitate convenient financing options for all. One such endeavour was to set an internal benchmark for the interest rates followed by diverse financial institutions. Subsequently, the Reserve Bank of India introduced a new financial tool - Marginal Cost of Funds based Lending Rate. What is MCLR? MCLR or Marginal Cost of Funds based Lending Rate aimed to set a fundamental uniformity in the lending rates, which is especially beneficial in cases of high-value loans or secured advances. It intended to – Bring in transparency in the way to determine the rate of interest. Improve transmission of policy rate into the lending rate of interest. Ensure availability of financial aids at rates which are fair both for on the part of a lender as well as a borrower. Taking these benefits into account, post-April 1, 2016, the best home loans in … [Read more...] about Why EMI is Increasing when Repo Rate and MCLR are Falling?