Pune: State Government Mandates Refund of Student Deposits within Two Years
Pune, 17th September 2023: To address an issue concerning the deposit amounts collected during university and affiliated college admissions, the state government has taken a decisive step. Until now, these deposits, once paid by students, were not refunded, resulting in an accumulation of around 12 crores with the state government.
To rectify this situation, the state government has now made it mandatory for students to claim their deposit amount within two years of completing their education. Failure to do so will empower colleges to utilize these unclaimed deposits for other purposes.
Traditionally, these deposit amounts were intended to be returned to students upon the completion of their studies. Colleges were responsible for informing students about this provision at the time of declaring results. However, in practice, many colleges failed to provide students with this critical information, leading to students inadvertently leaving their deposits behind.
The lack of clear guidelines on how to allocate these unclaimed deposits prompted the state government to establish a policy addressing this issue. According to the new policy, when students approach their colleges or universities to obtain copies of their certificates upon completing their education, they should also receive their deposit refunds. Failure to adhere to this guideline will result in colleges retaining the deposit amount if it remains unclaimed for two years following a student’s graduation.
This policy aims to ensure that students receive their deposit amounts within a reasonable timeframe, facilitating a more transparent and efficient refund process.
Furthermore, all Vice-Chancellors and Principals of colleges now possess the authority to allocate the deposited funds within the financial limits prescribed. For expenses exceeding these limits, joint directors and directors of the higher education department will be responsible for approval.
Once returned to students, the excess deposited funds can serve diverse purposes, enhancing the educational landscape. These funds can be channelled towards procuring essential library books and expanding the knowledge resources available to students. Additionally, the deposits can be utilized to modernize laboratory facilities, ensuring students have access to state-of-the-art equipment for their practical education. Furthermore, the funds can play a pivotal role in the implementation of the National Education Policy, fostering educational reforms and improvements. Lastly, the deposits can be directed towards training programs for both teaching and non-teaching staff, investing in the professional development of the individuals who play a crucial role in shaping the educational experience.
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