Study of Financial Management and Funding Practices Adopted by Private Unaided Higher Educational Institutions
Shirish Raibagkar* (Professor, Institute of Business Management and Rural Development (MBA Center), Ahmednagar, Maharashtra, India), *Corresponding author'sEmail
Raibagkar, Shirish (2014), “Study of Financial Management and Funding Practices Adopted by Private Unaided Higher Educational Institutions”, MERC Global’s International Journal of Management, Vol. 2, Issue 3, pp. 109-132.
Submitted: March 27, 2014, Revision received: May 20, 2014, Accepted: May 30, 2014
Share of youth population dominates the current demographic profile of India. Education and particularly higher education will play a critical role in shaping not only the careers of the youth population, but also impact the prospect of the entire nation. The Government of India encourages the private sector to play an industrious role in education. However, private unaided educational institutions (PUEIs) are struggling with some major issues with reference to financial management practices and funding. This study is an attempt to capture an insight into the current financial management practices of PUEIs particularly in the semi-urban and rural areas of India. Moreover, study exposes the ground level problems confronted by PUEIs in the long-term as well as short-term financing and also determines the problems confronted by the bankers in financing these PUEIs. Conclusively, study approaches out with practical solutions to solve both long-term as well as short-term financial problems.