Weakening Rupee can severely damage the Indian Overseas Education Market…

It has been very difficult last few days for Indian students. US, UK and Canadian intakes are around the corner and the rate at which the Indian rupee has lost value, it has ruined the plans for most Indian students already… It is time for institutions to step in and help out the students who have or are about to reach their campuses.

I do believe that scholarships, bursaries or India specific grants to the tune of 10% should be offered to act as a bridge between planned costs and real costs.

Last week, I did a blog (see link) indicating the possibility of some more fiscal tightening by RBI and the possible scenarios. They were hypothetical but today I hear that even the duty free baggage allowances of travelers are being reduced. These will not save much but then they do build in the panic and somehow give an impression that RBI too is uncertain as to what can be done…

I am a little surprised too as to how India which has an economist as the PM can fail to stem the depreciation of the currency. Should he not take over the Finance Ministry under his control and take some firm decision that can at-least give a perception that things will change. It will instill much needed confidence.

Screen Shot 2013-08-20 at 4.31.03 PMScreen Shot 2013-08-20 at 4.31.38 PM

The above are the rates from the Thomas Cook India website of this afternoon. AND BRITISH POUND is now well past Rs 100… Sad…

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