Latest news with #RiteshJain
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Business Standard
2 days ago
- Business
- Business Standard
US fixed-term F-1, J-1 visas may disrupt studies for 4 lakh Indian students
The United States is preparing to overhaul how long international students can stay, replacing the open-ended 'duration of status' rule with fixed-term F-1 and J-1 visas. At present, students can remain in the country as long as they are enrolled in their course. The proposed rule would instead impose a strict end date, regardless of programme length, forcing some to renew their visa mid-course. The Department of Homeland Security has cleared the proposal through White House review. It will now move to a public comment stage before implementation. Why this matters for Indian students Indian students are the largest international cohort in US universities, with more than 420,000 enrolled in 2024. Many pursue multi-year programmes such as master's degrees, PhDs or long-term research. A fixed-term rule could cut across these timelines, creating the risk of visa expiry mid-semester. 'For thousands of international students, especially from India, this could mean a shift in how they plan their academic journeys,' said Ritesh Jain, co-founder of LaunchEd Global. 'For students in PhDs, combined bachelor's–master's degrees, or integrated courses that span four to seven years, a fixed-term visa could add uncertainty. Instead of being assured of staying until the programme ends, students might have to apply for extensions midway – introducing stress at a critical stage in their academic work,' said Jain. Dr Hitesh Bhatia, professor at Navrachana University, Vadodara, said research-heavy fields would be hit hardest. 'This could disrupt research timelines, delay graduation, and limit opportunities for students—particularly from countries like India—seeking advanced degrees in applied sciences, engineering, technology, and data analytics.' Financial and administrative strain The proposed change also raises cost and compliance issues. 'If extensions are needed, students will face extra application fees, legal expenses, and paperwork. More importantly, the waiting period for approvals could cause interruptions in study or research,' said Jain. Mamta Shekhawat, founder of study abroad platform said repeated immigration filings could divert valuable time and resources from studies. 'It may involve securing representation or repeated interactions with immigration authorities, potentially impacting students' ability to complete their studies in the US,' she said. Shekhawat added that other countries link stay duration directly to course completion, making them more predictable destinations. 'The prospect of forced, mid-programme visa renewals in the US may drive highly qualified applicants elsewhere.' Impact on internships and OPT Optional Practical Training (OPT) and internships are tightly bound to visa validity. Any gaps could jeopardise these opportunities. 'Fixed-term visas could shorten or complicate the post-completion window available for OPT, require separate extension filings, or create gaps between graduation and permissible work start dates,' said Prof M A Venkataramanan, pro vice-chancellor at FLAME University. Shekhawat warned that employers might avoid offering placements if paperwork is uncertain. Venkataramanan said Indian students, given their large numbers, would feel a disproportionate impact. Families will need to factor in: • Additional extension and legal fees • Risk of mid-programme disruption • Potential loss or delay of OPT income and job offers • Reputational risk for universities where multiple cohorts require extensions How to plan ahead Indian students considering the US should begin preparing for possible changes by: • Tracking updates from US consulates and university advisories • Budgeting for mid-programme renewals, including time and cost • Speaking with academic advisers early to adjust timelines or consider deferrals • Joining student associations to voice concerns during the public comment period
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Business Standard
17-07-2025
- Business
- Business Standard
QS 2026: Not London or Boston, Seoul is top city for foreign education
Seoul, not London, has emerged as the most preferred city for international students, according to the QS Best Student Cities Ranking 2026. The South Korean capital has taken the top spot, pushing London to third place, while Tokyo has climbed to second. This is the first time two Asian cities have led the global student city rankings. Compiled by UK-based Quacquarelli Symonds (QS), the annual index considers a mix of factors including affordability, student mix, desirability, quality of universities, and employment outcomes after graduation. London, United Kingdom Munich, Germany Melbourne, Australia Sydney, Australia Berlin, Germany Paris, France Zurich, Switzerland Vienna, Austria Singapore Kuala Lumpur, Malaysia Beijing, China Taipei, Taiwan Boston, United States 'Seoul's rise to the top spot, overtaking long-time favourites like Tokyo and London, is a clear message that the global higher education scene is evolving strongly and shows diversity in the study options for students globally. For Indian students and parents, this means that they now don't have to run behind the Anglosphere and can choose other hot spots,' said Mamta Shekhawat, founder at 'It additionally confirms that Asian cities, especially East Asian cities such as Seoul and Tokyo, provide a very real and exciting blend of academic excellence, lively student experience, and strong post-graduation career options,' she told Business Standard. Indian students still prefer familiar routes 'It's a wake-up call for Indian families to look beyond the traditional US–UK–Canada triangle and consider high-performing, culturally rich destinations like South Korea that are investing heavily in international education,' Ritesh Jain, co-founder of LaunchEd Global told Business Standard. Mary Gogoi, head of admissions at eduVelocity, agreed the trend is slowly shifting. 'Students are becoming more open to exploring countries like South Korea and Japan, especially for courses in STEM, business, and international studies. This is often driven by curiosity, cultural appeal, and the availability of government scholarships,' she told Business Standard. Still, many Indian families continue to lean towards English-speaking destinations. 'For many families, these factors offer a sense of comfort and long-term opportunity, especially in terms of career prospects,' said Gogoi. Korean wave and government support drive interest According to LaunchEd Global and there has been a clear uptick in enquiries over the past 12 to 18 months. 'We've seen a clear uptick in interest, particularly from students in tech, design, and media-related fields. South Korea's pop culture influence—K-dramas, K-pop, etc.—is a huge pull among Gen Z, but it's not just about fandom,' said Jain. 'Students are now recognising the strong academic infrastructure and the generous scholarships Korean and Japanese universities are offering to international students.' 'While difficulties like learning a new language and finding work after graduation are still real, both South Korea and Japan are actively trying to make things easier for international students, including those from India,' said Shekhawat. Language barriers and career planning 'While many top universities in Seoul and Tokyo offer programmes in English, daily life and internships often require some knowledge of the local language. Also, the path to staying and working after graduation isn't as clear-cut as it is in Canada or Australia,' said Jain. 'Knowing the local language becomes essential for internships, part-time jobs, and long-term employment. Post-study work options exist, but navigating them requires good planning and language skills. It's important for students to be prepared for that adjustment,' said Gogoi. She added that Seoul and Tokyo offer high-quality education at comparatively lower costs, excellent public safety, and a modern lifestyle. 'Generous scholarships and a growing focus on internationalisation make them attractive. Career opportunities in tech, design, and research are also a big plus.' 'Seoul has built a strong reputation through universities like KAIST and SNU, especially in tech, engineering, and research. Scholarships and government support help too,' said Mayank Maheshwari, co-founder and COO at University Living. 'Tokyo's been a go-to for innovation for years whether it's AI, robotics, or design. Both cities have universities that are respected around the world, which is why they score well in the employer-related parts of the QS ranking,' he said. 'But students also care about what happens after—can they stay back, work, and build a life there? And even during their studies, they think about the everyday stuff: food, language, part-time work, and whether they'll feel at home in a completely new culture. That's why, for many Indian students, countries like the UK, Canada, the US, and Australia still feel easier. The language, the work rights after graduation, and even access to familiar food and communities—all of that helps when you're going abroad for the first time.' Cost of living: Seoul vs Tokyo vs Europe 'When it comes to cost of living, Seoul is generally more affordable than both Tokyo and many major cities in Western Europe. International students in Seoul usually spend around $550 to $750 per month, depending on lifestyle and housing,' said Maheshwari. 'Dorms are reasonably priced, public transport is student-friendly, and food, especially on campus, is affordable.' According to him: Tokyo tends to be slightly more expensive, with monthly student expenses between $700 and $900 (around ₹58,800 to ₹75,600). Rent and commuting costs are higher, but quality of life is strong. In European cities like Paris, Amsterdam, Berlin, or Dublin, student budgets can range between $1,200 and $1,800 per month (around ₹1 lakh to ₹1.5 lakh). Housing in Europe generally ranges from €500 to €900 (around ₹45,500 to ₹81,900), with total monthly costs often crossing €1,000 (around ₹91,000). 'However, many students manage these costs through part-time work opportunities, which are more accessible and flexible in Europe compared to some Asian destinations,' he said. 'In the end, Seoul offers a strong mix of affordability, safety, and quality education. Tokyo appeals to students keen on tech, design, and innovation. And Europe remains one of the top choices, not just for academic excellence and cultural diversity, but also for its student-friendly work policies and career pathways,' Maheshwari said.
Time of India
02-07-2025
- Business
- Time of India
Mumbai court nixes Rs 1,478cr money laundering case accused Ritesh Jain's plea for family holiday abroad
Mumbai: Observing that there is possibility of the accused absconding and hampering investigations, a special PMLA court has rejected the plea of businessman Ritesh Jain, an accused in a Rs 1,478-crore money laundering case related to Rajeshwar Exports Pvt Ltd, to travel to the UK and the UAE for a family holiday. While Jain submitted that his family had endured significant mental turmoil due to the cases against him and his companies, and the trip was intended to "weed out negativity and instill enthusiasm and positivity" in their lives following the recent death of his father, the judge noted that there were no urgent and compelling reasons. Jain had sought permission to travel to the UK from July 1-8 and to the UAE from July 8-15 and requested abeyance of any look out circular against him. His lawyers submitted that Jain was innocent and had been falsely implicated. They also submitted that the right to travel abroad is a fundamental right under Article 21 of the Constitution of India. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai Opposing the application, Enforcement Directorate (ED) said that Jain, along with others, conspired to entice individuals into opening bank accounts for companies like Macquire Multitrade Pvt Ltd, Kalpana Trading Company, and Unique Trading Company, which were allegedly used for illegal transactions, cheating individuals for personal gain and causing loss to govt. The investigations allegedly revealed that Jain and his associates incorporated "paper companies or entities" such as Unique Trading and Macquire Multitrade, transferring funds from these to Rajeshwar Exports. Outward remittances were made under the guise of importing jewellery and diamonds, purportedly to park tainted funds abroad. ED also informed the court that Jain is an accused in another case related to Auro Gold Jewellery Pvt Ltd and is considered the "kingpin" of a setup designed to park funds outside the country by establishing a web of entities with dummy directors. An LOC was issued against him on Jan 6, 2017, as he is considered a prime conspirator. ED submitted that Jain has repeatedly failed to appear despite multiple summons, evading the process of law. The court noted that while the right to travel abroad is a fundamental right, it is subject to restrictions during ongoing criminal investigations. Considering Jain's "past conduct" and the existing LOC, the court concluded there was a strong possibility of him absconding if permitted to travel abroad, which would hamper the investigation.
Entrepreneur
26-06-2025
- Business
- Entrepreneur
FlexiLoans Crosses INR 10,000 Cr in Loan Disbursements, Powers 1.7 Lakh MSME Loans
Notably, 66% of these borrowers are from tier II, III, and IV regions. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Digital lending platform FlexiLoans has announced a significant milestone: the company has crossed INR 10,000 crore in cumulative loan disbursements, supporting over 1.7 lakh loans across more than 3,000 towns and cities. Notably, 66% of these borrowers are from tier II, III, and IV regions. Founded with a vision to empower small businesses, FlexiLoans claims to have financed over 59,000 MSMEs since inception—many of them first-time borrowers. Notably, over 10% of its loan book comprises women-led enterprises. With assets under management (AUM) now exceeding INR 2,300 crore and an impressive 83% CAGR between FY22 and FY25, the company has maintained profitability for three consecutive years. "The gap is real—but so is the opportunity," said Ritesh Jain, Co-founder of FlexiLoans. "Digital lending is no longer a parallel stream, it's the mainstream. Legacy systems can't serve the future of MSME credit. That's where digital-first lenders like us are shifting the paradigm." FlexiLoans' platform sees over 1.3 million monthly visits, indicating increasing digital trust and adoption among MSMEs, especially outside metro cities. Jain added, "What we're witnessing is Bharat's fintech moment. MSMEs in smaller towns are digitally savvy and actively seeking fast, flexible credit solutions built for their realities." India's MSME sector contributes nearly 30% to the GDP and employs 110 million people. Yet, timely and adequate credit access remains a hurdle—especially for micro-enterprises. According to SIDBI, the sector faces a credit gap of INR 30 lakh crore, with formal lending covering just 53% of the INR 95.6 lakh crore total debt demand. FlexiLoans' fully digital and paperless lending model proved crucial during the COVID-19 crisis, helping businesses recover through quick access to working capital. Between FY21 and FY24, NBFCs like FlexiLoans recorded a 32% CAGR in MSME lending, far outpacing private and public sector banks. With technology-driven innovations like AI-based underwriting, alternate data usage, and embedded finance, FlexiLoans is helping drive a shift toward agile, inclusive financial access.
Entrepreneur
11-06-2025
- Business
- Entrepreneur
FlexiLoans Raises INR 375 Crore in Series C Round to Boost MSME Lending
he round was led by existing investors including Fundamentum, Accion Digital Transformation Fund, Nuveen, and Maj Invest, while British International Investment (BII), the UK's development finance institution, joined as a new backer You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Digital lending platform FlexiLoans has raised INR 375 crore in fresh equity funding as part of its Series C round, according to a press release issued by the company. The latest tranche adds to the INR 290 crore raised in September 2024, taking the total capital infusion to INR 665 crore over the last six months. The round was led by existing investors including Fundamentum, Accion Digital Transformation Fund, Nuveen, and Maj Invest, while British International Investment (BII), the UK's development finance institution, joined as a new backer. The investment mix includes both primary capital to drive operational expansion and secondary transactions that provided liquidity to early investors. Founded in 2016 by Deepak Jain, Ritesh Jain, and Manish Lunia, FlexiLoans operates as a digital-first NBFC focused on serving India's underserved MSME sector. The firm said the fresh funds will be used to scale operations, broaden its suite of credit products, and strengthen its technology platform aimed at small businesses, particularly in non-metro areas. Less than 10 per cent of the estimated 60 million MSMEs have access to formal credit. FlexiLoans targets this credit gap, with 66 per cent of its loan book spread across Tier II and Tier III cities. "We are pleased to have secured an additional INR 375 crores from our existing investors and are proud to welcome BII to our cap table," said Deepak Jain, co-founder of FlexiLoans. "This round not only enabled us to return capital to our early investors, but also gives us the firepower to double down on our mission—empowering underserved MSMEs across India with fast, accessible financing to grow, scale, and thrive." FlexiLoans operates without physical branches, using a fully digital infrastructure to approve and disburse loans—often within 48 hours—by leveraging alternative data and digital partnerships. The firm has disbursed over INR 10,000 crore across more than 2,100 towns and cities. Its current assets under management (AUM) stands at INR 2,300 crore, with a compound annual growth rate (CAGR) of 83 per cent from FY22 to FY25. Srini Nagarajan, managing director and head of Asia at BII, said: "We are delighted to support FlexiLoans in their mission to empower MSMEs across India with its innovative digital-only model. Financial inclusion is a key part of our strategy, and this investment underscores our commitment to supporting underserved businesses and entrepreneurs." Unitus Capital acted as the exclusive advisor to the transaction.
