Institute of Chartered Finance Analysts of India has been the renowned institute that bestows CFA degrees. Nanduri Yeshashwy is the man behind this establishment and it has grown to an extent of generating a turnover of about Rs 2500 Cr in the form of tuition fee every year. It has got many allied institutions like Le Magnus University et al.
ICFAI has been a giant in education industry of India and mushroomed into every corner of the nation with myriad branches. But now recession has hit this organization as well. Hence about 100 ICFAI branches around India are shutting down as per the information from a source.
This is the first cost-cutting method being implemented by that organization just looking at the trends all over. It is also said that there is no problem with the running of organization and it's only a cost-cutting measure to be on safe-line.
So it's not just SW industry but even education industry is facing the music of recession and financial fears.
