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India has one of the largest student populations in the world over 260 million in K-12 education alone with more joining the fray every year.
Hence, a country that is tasked with training, coaching, and skilling such an enormous number of young people requires
efforts and policies at all levels.
Last year brought about new educational reforms in the form of the
National Education Policy (NEP 2020). It brings foundational education into focus and stresses on experiential learning as opposed to scorecards and pass marks, and has been hailed as “progressive” by most industry experts.
They believe that NEP 2020 could be the
India: Student loan provider MPOWER raises $25m from Tilden Park
Photo: Pixabay
January 27, 2021
Bengaluru and Washington DC-based MPOWER Financing, which provides educational loans to international and DACA students, has raised $25 million in funding from Tilden Park Capital Management, a New York-based investment management firm.
The funds come in addition to the $9 million MPOWER raised last year from a clutch of investors including Breega, Potencia Ventures, AI8, Cometa, Zephyr-Peacock, 1776, Fresco Capital, 1994 LLC, and Goal Structured Solutions.
The funding proceeds will be invested in further automating MPOWER’s digital loan platform, which leverages proprietary underwriting technology to provide a loan decision to students within minutes, per a company statement.
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With the rollout of a Covid-19 vaccine around the corner in India, hopes are rising among business leaders of a swift recovery in 2021 after the economy was plunged into a recession last year because of the impact of the pandemic and lockdown restrictions.
India has given emergency approvals for two vaccines – the Oxford-AstraZeneca jab and a homegrown candidate – and it is currently preparing to begin its immunisation drive, which starts on January 16. This will start with 30 million essential workers, and India has the ambitious target of vaccinating some 300 million citizens by the middle of the year. India is the second-worst affected country after the US with more than 10 million confirmed Covid-19 infections.