Consideration for Std 5 in-school classes newsday.co.tt - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsday.co.tt Daily Mail and Mail on Sunday newspapers.
Representative image
MADURAI: The Federation of Private School Associations (FePSA) has written to Reserve Bank of India (RBI) governor Shaktikanta Das urging him to either write off the loans obtained by private schools or to extend the moratorium till normalcy returns.
According to federation president M Arumugam, the financial crisis is worsening by every passing day and that banks have started serving the auction notice to erring schools.
On Thursday, Simon, the correspondent of a school in Cuddalore district, informed the federation that the private bank from which he borrowed Rs 1 crore had served the auction notice. “He repaid Rs 25 lakh in a year but could not pay since the lockdown. There are at least a handful of schools known to me in Madurai that face the plight but have not spoken about it as they want to maintain their dignity,” he said.
Updated Feb 25, 2021 · 08:57 pm Representational image. | AFP/Stringer
A look at the headlines right now:
In new rules for social media, Centre asks platforms to name ‘originator of mischievous’ posts: This new set of rules to regulate social media, streaming and digital news content will virtually bring them under the ambit of government supervision.
Nirav Modi can be extradited to India to stand trial, rules UK court: Modi is accused of duping the Punjab National Bank of more than Rs 13,000 crore.
India and Pakistan agree to stop ceasefire violations along Line of Control: The decision was reached during discussions between the Director Generals of Military Operations of India and Pakistan.