down the red-tapism rampant in the country's university
administrations that will allow thousands of students who win UGC
scholarships every year to not suffer delays in actually receiving the
money.
According to a proposal, the UGC is working on allowing winners of
scholarships to access their financial aid directly from banks.
The commission has already held meetings with Canara Bank. It also
plans to meet other banks to tie up with them and open bank accounts
for all scholarship winners who will then be able to access their
money directly.
Currently, the UGC offers several scholarships to students from
scheduled castes, scheduled tribes and minority communities in
collaboration with central ministries. The commission also offers
scholarships for single girl children.
In the system that is presently in place, the UGC transfers the
scholarship funds for students who have been selected to their
universities. It is then required for the universities to verify if
the student has been meeting the requirements of the scholarships
before they are handed over the money.
It has been found that several universities take several months over
the review process which routinely leads to delays in the scholarship
funds reaching the students that they are meant for.
Several scholars were allegedly required to quit their academics as
they were unable to afford their education while waiting for their
scholarships to arrive.
According to UGC's new proposal, the scholarship amount for students
will be transferred to the bands that will then verify whether
students are meeting their scholarships requirements before allowing
them to access their money.
The UGC will be paying the banks a fee for their service. The banks
will also be required to complete their scrutiny and decide to allow
students access to their money within a fixed period of time.
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