NBFC risk-weight move sends gold finance companies’ shares soaring

Mumbai: Gold finance companies Manappuram FinanceNSE 0.72 % and Muthoot FinanceNSE 0.39 % rallied on Thursday after the RBI in its sixth bi-monthly monetary policy said that it will assign risk weights for rated exposure of banks to all NBFCs. While Muthoot Finance ended up 6.5 per cent to Rs 515.60 and Manappuram Finance gained 7.7 per cent to Rs 104.05 on Thursday. Earlier, claims on exposure of corporates, asset financing companies and infrastructure NBFCs were risk-weighted as per their ratings. But for NBFCs, which are systemically important non-deposit taking NBFCs there was a blanket 100 per cent…

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Partnership Sends Minority College Students Abroad

The college student population has become increasingly diverse in the last few decades, but white students are still the majority of undergrads who study abroad. Only 8.3 percent of Hispanic college students and 5.6 percent of black undergrads typically study abroad, according to the Council on International Educational Exchange. About 300,000 students of all backgrounds study abroad each year, the council stated in arecent report. Lack of money and familiarity with college study abroad programs are often obstacles for many minorities who want to enroll in an academic program overseas,…

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