Latest news with #SAT
News18
11 hours ago
- Business
- News18
NSE IPO: Exchange's Unlisted Shares Hit Record High Amid Settlement Talks With SEBI
Last Updated: According to reports, SEBI could now demand nearly twice the amount NSE paid in its previous record Rs 643 crore Trading Access Point (TAP) case settlement in 2023. NSE IPO: Shares of the National Stock Exchange (NSE) in the unlisted market have surged to a record high of Rs 2,300 after at least two media reports emerged that the exchange is working towards settling the long-standing co-location case with the Securities and Exchange Board of India (SEBI). It paves the doors for NSE to bring out the long-standing IPO. The development comes as both NSE and SEBI have reportedly restarted discussions to arrive at a consent settlement, marking a possible turning point in a regulatory saga that has been a major hurdle in NSE's IPO ambitions for years, according to MoneyControl report. The case, which is currently pending before the Supreme Court, had earlier seen SEBI challenge a Securities Appellate Tribunal (SAT) ruling that diluted penalties imposed on NSE in 2019. Earlier, The National Stock Exchange (NSE) had clarified that it has not approached the Ministry of Finance regarding its long-pending Initial Public Offering (IPO), contrary to a recent media report. NSE stated that it has not made 'any such representation to the Union Government in the last 30 months." There has been no communication between NSE and the Ministry of Finance on this issue. Krishna Patwari, Founder and Managing Director of Wealth Wisdom India Pvt Ltd, said SEBI's move signals a shift in regulatory tone and has boosted investor sentiment around the NSE's public listing. NSE's share price in the unlisted market has jumped to Rs 2,300, pushing its market cap to around Rs 5.69 lakh crore—an all-time high on May 28th, said Patwari. 'SEBI's willingness to settle long-standing regulatory issues with NSE is a major step forward," Patwari said. He added that the exchange's agreement to pay a significant sum shows its commitment to resolving legacy matters: 'The change in SEBI's stance under the new Chairman indicates a more collaborative approach. Investor confidence has surged. The spike in unlisted share prices clearly shows the optimism around NSE's IPO finally becoming a reality." What's the Co-Location Case? The co-location case revolves around allegations that certain brokers unfairly benefited by placing their servers closer to NSE's trading system within its co-location facility. This proximity allowed faster access to data and trades, providing an undue advantage over others and raising concerns of market manipulation and lack of fair access. The initial SEBI order in 2019 had imposed significant penalties, which NSE challenged before SAT. While SAT gave a relatively lenient ruling, SEBI appealed the decision in the Supreme Court, where the case remains pending. Sources told MoneyControl, SEBI could now demand nearly twice the amount NSE paid in its previous record Rs 643 crore Trading Access Point (TAP) case settlement in 2023. 'The discussions began around one and a half months ago. Currently, both sides are negotiating the amount that NSE should pay. Given the TAP case involved Rs 643 crore, SEBI may demand a significantly higher sum for the co-location matter," the source told MoneyControl. However, with a favourable SAT order already in hand, NSE may be reluctant to accept a very high settlement demand, setting the stage for tough negotiations between the two parties. First Published: June 01, 2025, 12:30 IST
Time of India
a day ago
- Business
- Time of India
Ivy League dreams in limbo: Visas, verdicts & very anxious students
Live Events 'Ivy League colleges cannot survive without international students. They are the backbone of America's academic strength. This situation is temporary... it will pass.'I've been saying this often these days, more to calm the nerves of students and their parents than anything over two decades, I've watched thousands of Indian students chase the American Dream—an Ivy League degree, a high-flying job in the US and a life of global success. I've walked this journey with them—from the nervous excitement of SAT prep to nail-biting decisions on for the first time in my career, I find myself in the eye of an entirely new storm: the growing uncertainty in US college admissions for international students. And yet, I remain calm. Because I know the system is cyclical rather than permanent.(Join our ETNRI WhatsApp channel for all the latest updates)Much of the current anxiety stems from the ongoing legal battles involving universities like Harvard. After the Donald Trump administration barred the University of Harvard from enrolling foreign students, a recent court ruling has allowed it to enrol international students, but many logistical roadblocks 20% of Indian students who have got admission to American colleges and universities this year have already got their visa. About 30% have secured interview dates. The remaining 50% are stuck—waiting for I-20 forms, which are eligibility certificates issued by a college or a university that is necessary to apply for a student visa, or struggling to find open visa slots. No new interview appointments are being issued right we are in June. The August intake is looming large and, understandably, parents are advice is simple: stay calm and have a pragmatic Plan B. Many families are now exploring alternatives like the UK and Singapore, or even returning to top Indian most students still want to hold out hope. They know—as I do—that there's still nothing quite like a US undergraduate this climate, I see three types of students:They're willing to lose a semester or even defer a year, just to make it to their dream US students are seriously weighing options in the UK, Singapore and even top Indian are watching and waiting, believing that visa processes will be realigned in there's reason to believe they will. The pressure on the US government to resolve this is mounting—economically, politically and other battle is just getting into an American college. With Common Application, AI-assisted evaluations and higher global applications, US colleges have never been more selective. Consider this: the University of Pennsylvania's acceptance rate dropped from 20% in 2005 to just 5.4% in 2024. Boston University's went from 52% to 10.7%. New York University's fell from 32% to a mere 8%.More than 80% of Indian undergraduate applicants to the US are disappointed with the outcomes. Many of them feel they deserve better. But they are up against a system where nearly 35% of seats are locked up by MALDC candidates—Minorities, Athletes, Legacies, Donors and Children of Faculty and competition is only intensifying. The pipeline of Indian applicants is growing rapidly. Students from second- and third-tier towns now outperform their metro-city peers, fuelled by better schools and greater has been a huge jump in high-quality institutions across India. IT diploma schools have grown from 80 in 2010 to 175+ today. A-Level schools have doubled from 100 to 200+ in the same US still offers world-class education, but the post-graduation road is no longer guaranteed. A four-year undergraduate degree now costs upwards of $400,000, while an MBA degree can cost $250,000 or only 40% of Indian students who are graduating this year have secured jobs so far. Even in high-demand fields like computer science, the number was lower than expected. Ivy League MBAs are not immune either—23% of Harvard MBA graduates were unemployed three months after graduation in 2024. At Stanford , that figure was 18%, nearly double from just two years visa uncertainty continues. Optional practical training ( OPT ) and H-1B rules for visas remain inconsistent. Standardised testing, like the SAT, is making a comeback—adding yet another layer of the stakes rise, I encourage students to redefine what success looks like. Elite institutions are fantastic platforms but they are not the only route to achievement.I often recommend Where You Go Is Not Who You'll Be by Frank Bruni. It's a wake-up call for those obsessed with the end of the day, real success depends on character, curiosity and grit—not just a brand of my students are exploring Indian post-grad options like the IIMs. Indian companies increasingly value homegrown talent—those who understand the market and are hungry to build something isn't the new normal. It's a moment in flux. My message to students and parents is: stay flexible, stay informed and keep your eye on the long game. Be prepared to pivot. Don't tie your self-worth to a college name or a country's immigration path ahead demands resilience—the ability to adapt, to reinvent oneself, to embrace uncertainty. We are entering an era where resilience will matter more than résumés. That's what I tell my students when they call, worried, sometimes in tears. I remind them that uncertainty doesn't equal failure—it's just part of recent months, I have also found myself having deeper, more philosophical conversations with families which I never used to have 10 or 15 years ago. Parents are beginning to ask not just how to get in, but why they are pursuing this path in the first place. And students are more reflective. They care more about alignment—between their passions, purpose and the education they seek. It's no longer just about getting a US degree. It's about building a life that feels role is no longer just about helping them get into a college—it's about helping them think bigger, with confidence, no matter where they land. After all, the dream isn't changing. It's just getting path may no longer be straight. But for those willing to stay the course, it can still lead to something Ivy League dream is still alive—but maybe, just maybe, it's time to dream wider.(As told to Lijee Philip)
Time of India
a day ago
- Business
- Time of India
Visa interview suspension: US plans in limbo for Kol students
1 2 3 4 5 6 Kolkata: The unexpected halt in US student visa interview appointments has left students and parents distressed and educational advisers perplexed. The move has particularly affected recent Class XII graduates planning to commence undergraduate studies in the US this autumn. This decision by the Trump administration disrupted established plans and added pressure to students already managing a complex educational transition. "I was deeply shocked at the news because I was preparing for exams after getting accepted into a few universities. We even paid the deposit to the university and were about to schedule a visa interview. But now, after the news, it feels like a dead end. These updates are coming so abruptly that we didn't expect it, and now we don't know what to do. Since yesterday evening, I've started applying to colleges in Delhi and Mumbai as a backup. All I can do is hope for the best," said Manya Mishra, a SAT candidate. Shresth Jajodia, another student facing uncertainty, shared, "I was planning to apply for my visa soon, so the suspension news was really upsetting. Until now, I didn't have a solid backup plan, but with everything that's happening, I've started looking at alternate options. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo I'm confident about my chances because of my travel history, but without an interview slot, my entire plan to study in the US is at risk." Educational counsellors are experiencing increased enquiries from concerned families, leading them to investigate alternative educational pathways in different countries or within India. Parents express concerns about safety, practicality, and educational investment value amidst these developments. The recent availability of visa appointments followed by their sudden withdrawal left unprepared students without clear options. "I secured admission to a US university and was preparing for the next steps, but the sudden visa interview suspension created a lot of uncertainty. We were waiting on the I-20 process, and now everything's on hold. With no clear communication or timeline, it's hard to plan or decide what to do next, and many students like me are stuck in the same situation after putting in so much effort," said another Class XII graduate from GD Birla Centre for Education. The situation has prompted students to consider Indian educational institutions and alternative entrance examinations as contingency plans. Families remain in a state of watchful waiting, seeking resolution whilst reconsidering their educational strategies. The absence of reliable visa processing schedules has forced rapid decision-making about higher education, contrary to the usual extended planning period.
Mint
a day ago
- Business
- Mint
Why does Trump keep saying Harvard teaches remedial math?
The White House has an expanding list of complaints about Harvard. Among them: a puzzling claim that Harvard kids can't do math. 'Did you see that, where the students can't add two and two and they go to Harvard?" President Trump said on May 23 during an Oval Office briefing. It isn't just Trump. The rumor that Harvard's admission standards have slipped so far they are teaching 'remedial math" has ricocheted across social media to Washington. Two federal agencies, in official correspondence, have echoed it, one even suggesting Harvard is teaching 'middle school math." Something doesn't compute. Harvard's lowest math course is college-level calculus, and their students? Overall, they are something of arithmetic aficionados. Most undergraduates have taken four years of high-school math. The median math SAT score for incoming Harvard students has been 750 or higher over the past decade, in at least the 95th percentile for students nationwide. 'The narrative…it just is so disconnected from what's happening in the classroom," said Brendan Kelly, Harvard's director of introductory math. How did this idea multiply? Tracing this requires a few twists and turns. Last fall, Harvard expanded its entry-level math offerings, with a new version of its introductory calculus course that meets five days a week instead of the usual four. Students are given a skills test to determine whether they need the extended course, Kelly said. The extra time each week is devoted to reviewing algebra skills to make the calculus more accessible, Kelly said. The No. 1 challenge for students in calculus is command of algebra because the knowledge has sometimes faded, he added. 'The extra support will target foundational skills in algebra, geometry, and quantitative reasoning that will help you unlock success," the class description says. The Harvard Crimson student newspaper wrote an article about the new offering in September, saying that it was 'aimed at rectifying a lack of foundational algebra skills," without noting that it is a calculus course. Fast forward to March 18, when Marc Porter Magee, the head of an educational advocacy organization, posted the Crimson article on X, writing: 'Meanwhile, for the first time in its history Harvard has been forced to offer a remedial algebra course to its undergrads." The post racked up 1.1 million views. And thus, a new idea, that Harvard teaches remedial math, entered the equation. (Remedial math is generally thought of as basic instruction necessary before students can take college-level courses.) The idea bounced around the internet and made its way to the Trump administration. The president has voiced it twice from the White House. While signing education-related executive orders on April 23, Trump declared from the Oval Office: 'I hear all about certain great schools and then we read where they're going to teach people basic math, math that we could all do very easily, but they can't do." Why, he asked, are people getting into places such as Harvard without being able to do math, while some students who are at the top of their class can't get into the best schools? Education Secretary Linda McMahon, who was with him, replied that it comes down to meritocracy, and that 'we have to look harder at those universities that aren't enforcing that." McMahon doubled down a few weeks later in a blistering letter sent to Harvard informing the university that it shouldn't apply for any future federal grants because none would be forthcoming. 'This year Harvard was forced to adopt an embarrassing 'remedial math' program for undergraduates," McMahon wrote in the May 5 letter. 'Why is it, we ask, that Harvard has to teach simple and basic mathematics, when it is supposedly so hard to get into this 'acclaimed university'? Who is getting in under such a low standard when others, with fabulous grades and a great understanding of the highest levels of mathematics, are being rejected?" Then, on Tuesday, Josh Gruenbaum, an official with the General Services Administration, circulated a letter to federal agencies telling them to review and potentially cancel any remaining Harvard contracts. The letter mentioned the 2023 U.S. Supreme Court case that banned affirmative action at Harvard and other universities. 'Harvard has shown no indication of reforming their admissions process—to the contrary, Harvard now has to offer a remedial math course, which has been described as 'middle school math,' for incoming freshmen," Gruenbaum wrote. Harvard's Kelly said that while the pandemic led to skills gaps among the university's students—a phenomenon that occurred across the U.S., according to national benchmark tests—they still have high math knowledge. About 20 students enrolled in the five-day-a-week section this semester, Kelly said. The section requires the same exams as the standard introductory calculus. 'It is not remedial math. It is a college-level calculus class," he said. Magee—who wrote the X post—suggested in an interview Friday that he was making a similar point, that the pandemic led to even universities with 3.6% acceptance rates seeing students with less solid math skills than in the past. Students who were freshmen at Harvard last fall would have been finishing eighth grade when the pandemic hit. As for how the Trump administration ran with the 'remedial math" concept he launched, Magee says: 'You don't get to choose what goes viral." Write to Sara Randazzo at
India Gazette
2 days ago
- Politics
- India Gazette
Elite Western universities form a corrupt and parasitic empire
Instead of high-quality education, these institutions are fostering a global neo-feudal system reminiscent of the British Raj US President Donald Trump has banned international students from attending Harvard University, citing national security concerns. The move has sparked widespread condemnation from academics and foreign governments, who warn it could damage America's global influence and reputation for academic openness. At stake is not just Harvard's global appeal, but the very premise of open academic exchange that has long defined elite higher education in the US. But exactly how 'open' is Harvard's admissions process? Every year,highly qualified students- many with top-tier SAT or GMAT test scores - are rejected, often with little explanation. Critics argue that behind the prestigious Ivy League brand lies an opaque system shaped by legacy preferences, DEI imperatives, geopolitical interests, andoutright bribes. George Soros, for instance, once pledged$1 billionto open up elite university admissions to drones who would read from his Open Society script. China's swift condemnation of Trump's policy added a layer of geopolitical irony to the debate. Why would Beijing feign concern for "America's international standing" amid a bitter trade war? The international standing of US universities has long been tarnished by a woke psychosis whichspread like cancerto all branches of the government. So, what was behind China's latest gripe? The answer may lie in the unspoken rules of soft power: Ivy League campuses are battlegrounds for influence. The US deep state has long recruited foreign students to promote its interests abroad - subsidized by American taxpayers no less. China is apparently playing the same game, leveraging elite US universities to co-opt future leaders on its side of the geostrategic fence. For the time being, a judge has granted Harvard's request for atemporary restraining orderagainst Trump's proposed ban. Come what may, there is one commonsense solution that all parties to this saga would like to avoid: Forcing Ivy League institutions to open their admissions process to public scrutiny. The same institutions that champion open borders, open societies, and open everything will, however, not tolerate any suggestion of greater openness to its admissions process. That would open up a Pandora's Box of global corruption that is systemically ruining nations today. Speaking of corruption - how is this for irony? Astar Harvard professorwho built her career researching decision-making and dishonesty was just fired and stripped of tenure for fabricating her own data! Concentration of wealth and alumni networks The Ivy League has a vested interest in perpetuating rising wealth and educational inequalities. It is the only way they can remain atop the global rankings list at the expense of less-endowed peers. Elite universities like Harvard, Stanford, and MITdominatelists of institutions with the most ultra-wealthy alumni (net worth over $30mn). For example, Harvard alone has 18,000 ultra-high-net-worth (UHNW) alumni, representing 4% of the global UHNW population. These alumni networks provide major donations, corporate partnerships, and exclusive opportunities, reinforcing institutional wealth. If the alma mater's admissions process was rigged in their favor, they have no choice but to cough it up, at least for the sake of their offspring who will perpetuate this exclusivist cycle. The total endowment ofPrinceton University- $34.1 billion in 2024 - translated to $3.71 million per student, enabling generous financial aid and state-of-the-art facilities. Less prestigious institutions just cannot compete on this scale. Rankings, graft, and ominous trends Global university rankings (QS, THE, etc.) heavily favor institutions with large endowments, high spending per student, and wealthy student bodies. For example, 70% of the top 50 US News & World Report Best Colleges overlap with universities boasting the largest endowments and the highest percentage of students from the top1% of wealthy families. According to theSocial Mobility Index(SMI), climbing rankings requires tens of millions in annual spending, driving tuition hikes and exacerbating inequality. Lower-ranked schools which prioritize affordability and access are oftenovershadowed in traditional rankings, which reward wealth over social impact. Besides, social mobility these days is predetermined at birth, as the global wealth divide becomes unbridgeable. Worse, the global ranking system itself thrives on graft, with institutions gaming audits, inflating data, and even bribing reviewers. Take the case of a Southeast Asian diploma mill where some of its initial batch of female students had been arrested for prostitution. Despite its flagrant lack of academic integrity, it grew rapidly to secure an unusually high QS global ranking - ahead of venerable institutions like the University of Pavia, where Leonardo da Vinci studied, and which boasts three Nobel Laureates among its ranks. Does this grotesque inversion of merit make any sense? Government policies increasingly favor elite institutions. Recent White House tax cuts and deregulation may further widen gaps by benefiting corporate-aligned universities whilereducing public fundingfor others. This move was generally welcomed by the Ivy League until Trump took on Harvard. With such ominous trends on the horizon, brace yourselves for an implosion of the global education sector by 2030 - a reckoning mirroring the 2008 financial crisis, but with far graver consequences. And touching on the 2008 crisis, didn't someone remark that "behind every financial disaster, there's a Harvard economist?" Nobody seems to be learning from previous contretemps. In fact, I dare say that 'learning' is merely a coincidental output of the Ivy League brand The credentialism trap When Lehman Brothers and its lesser peers collapsed in 2008, many Singapore-based corporations eagerly scooped up theirlaid-off executives. The logic? Fail upward. If these whizz kids were truly talented, why did they miss the glaring warning signs during the lead up to the greatest economic meltdown since the Great Depression? The answer lies in the cult of credentialism and an entrenched patronage system. Ivy League MBAs and Rolodexes of central banker contacts are all that matters. The consequences are simply disastrous: A runaway global talent shortage will hit$8.452 trillionin unrealized annual revenues by 2030, more than the projectedGDP of Indiafor the same year. Ivy League MBAs often justify their relevance by overcomplicating simple objectives into tedious bureaucratic grinds - all in the name of efficiency, smart systems, and ever-evolving 'best practices'. The result? Doctors now spend more time on paperwork than treating patients, while teachers are buried under layers of administrative work. Ultimately, Ivy League technocrats often function as a vast bureaucratic parasite, siphoning public and private wealth into elite hands. What kind of universal socioeconomic model are these institutions bequeathing to the world? I can only think of one historical analogue as a future cue: Colonial India, aka the British Raj. This may be a stretch, but bear with me. Lessons from the Raj AsNorman Daviespointed out, the Austro-Hungarians had more bureaucrats managing Prague than the British needed to run all of colonial India - a subcontinent that included modern-day Pakistan and Bangladesh. In fact, it took only 1,500-odd white Indian Civil Service (ICS) officials to govern colonial India until WWI. That is quite staggering to comprehend, unless one grasps how the British and Indian societies are organized along rigid class (and caste) lines. When two corrupt feudal systems mate, their offspring becomes a blueprint for dystopia. India never recovered from this neo-feudal arrangement. If the reader thinks I am exaggerating, let's compare the conditions in the British Raj and China from 1850 to 1976 (when the Cultural Revolution officially ended). During this period, China endured numerous societal setbacks - including rebellions, famines, epidemics, lawlessness, and a world war - which collectively resulted in the deaths of nearly 150 million Chinese. The Taiping Rebellion alone - the most destructive civil war in history - resulted in 20 to 30 million dead, representing 5-10% of China's population at the time. A broad comparison with India during the same period reveals a death toll of 50-70 million, mainly from epidemics and famines. Furthermore, unlike colonial India, many parts of China also lacked central governance. Indian nationalists are quick to blame a variety of bogeymen for their society's lingering failings. Nevertheless, they should ask themselves why US Big Tech-owned news platforms, led by upper-caste Hindu CEOs, no less, showed a decidedly pro-Islamabad bias during the recent Indo-Pakistanimilitary standoff. Maybe, these CEOs are supine apparatchiks, much like their predecessors during the British Raj? Have they been good stewards of the public domain (i.e. internet)? Have they promoted meritocracy in foreign lands? (You can read some stark exampleshere,hereandhere). These Indian Big Tech bros, however, showed a lot of vigor and initiative during the Covid-19 pandemic, forcing their employees to take the vaccine or face the pink slip. They led the charge behind the Global Task Force on Pandemic Response, which included an "unprecedented corporate sector initiative to help India successfully fight COVID-19." Just check out thecredentialsof the 'experts' involved here. Shouldn't this task be left to accomplished Indian virologists and medical experts? A tiny few, in the service of a hegemon, can control the fate of income inequalityis now worse than it was under British rule. A way out? As global university inequalities widen further, it is perhaps time to rethink novel approaches to level the education field as many brick and mortar institutions may simply fold during thevolatile 2025-30 period. I am optimistic that the use ofAI in educationwill be a great equalizer, but I also fear that Big Tech will force governments into using its proprietary EdTech solutions that are already showing signs of runawayAI hallucinations- simply because the bold new world is all about control and power, not empowerment. Much like the British Raj, I would say. (
