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Highlights Of The #RangDe Telethon: An Initiative To Provide Interest Free Loans To Students From Low Income Households
New Delhi Television Limited (NDTV) and Rang De India, a peer-to-peer lending platform have come together to initiate a campaign to prevent children from dropping out of school by providing interest-free loans to young students from low-income households across the country and create awareness about the crisis brewing in the education space.
Here are the highlights of the #RangDe Telethon:
Parth Shah, General Secretary, National Independent Schools Alliance calls for helping parents educate their children
Millions of parents are facing challenges. Now more children go to low fee schools which are actually community schools appealing to local needs. Gandhiji talked about the metaphor of beautiful tree, the children of our country are the trees we need to nurture. We did a survey. over 70,000 schools that are members of our alliance. We found that school fee they have received last year ranges 6 per cent in Madhya Pradesh to 25 per cent in Delhi. With no fee coming in as parents are unable to earn their own living, at the same time, these school owe crores to government. Delhi government owes 67 crore most people see that parents have to send kids to private schools and it is not our responsibility. This is the only effort I see being made.
Schools are beginning to reopen amidst a lot of chaos. Teachers have had to undergo salary cuts, many parents have not been able to pay the school fees due to job losses. For low income households, the challenge is accentuated further. With classes going online, thousands of children have had to scramble for gadgets to get online. The digital divide has never been more obvious, resulting in several kids dropping out of school.
To address the brewing crisis in the education space, Rang De along with NDTV hopes to intervene by providing interest free loans to low income households. The campaign aims to create awareness about the problem and raise interest free loans for student communities across India.
Rang De is a peer-to-peer lending platform that enables individuals to invest in fellow Indians. Started in 2008 as a non-profit, Rang De is now an RBI regulated peer-to-peer lending platform (NBFC-P2P).
Rang De's mission is to provide access to low cost, collateral-free loans with respect and dignity. Since inception, Rang De has been supporting farmers, artisans and small businesses and individuals who have been denied credit or cannot afford high-interest loans.