Life Moves On

IIT Mumbai go bankrupted…This is really astonishing to read…I could not believe my eyes when I read this. IITs are the premier or the creamest institution for technological reseaches but being an Indian it really hurts me to know IITs are going bankrupted. Recently all the 7 IITs have informed our HRD ministry that they are running out of fund and they have also stated that the situation is getting out of hands as IIT Pawai can not even give salary to their staffs. Although these IITs are getting a considerable funs and donations from abroad but still the fund crunch raised. In the latest discussion the heads of the respective IITs have suggested HRD ministry to grant a Rs.20 crores fund to each of the IITs to meet the needs. Lets see is this at all help those premier institutions to hold back the fund again.

Source:Yahoo News!

Despite higher increase, simply an one-tenth of the need for micro-finance is being served. Although microfinance institutions (MFIs) expanded their client home in 2006 on an average by around 23 per penny, with the book of their loans having risen precipitously in new years to $25 billion last year from around $4 bn in 2001, the microfinance industry is yet incapable to play much than a fraction of today’s prospective borrowers’ need. , a survey by Deutsche Bank Research says. While MFIs presently help an estimated 100 million micro-borrowers, the overall prospective need in terms of amount of borrowers is approximately estimated at one billion, says the survey that calls for an increasing participation of personal sector investors to scale upward microfinance. In geographical terms, the undeveloped need is unevenly spreading around the world. The largest fraction of impoverished folk is located in India (310 million), Bangladesh (70 m), Indonesia (60 m), Nigeria (45 m) and Brazil (40 m).