Telangana government eases bank bond to 1 year
Students joining under the management quota will be required to furnish bank guarantee
By : DC Correspondent
Update: 2015-08-27 05:00 GMT
Hyderabad: In a major relief, the Telangana State government has relaxed bank guarantee rules for admission into private medical colleges in Category B seats. Students joining under the management quota will be required to furnish bank guarantee for the fee equivalent for one year.
This is instead of the four years’ bank guarantee that private medical colleges were seeking earlier. The Telangana State government on Wednesday issued orders to this effect after health minister Dr C. Laxma Reddy held talks with private medical colleges managements.
The admissions rules have been modified to read: “Management of the institutions may seek bank guarantee for tuition fee chargeable for every succeeding year.” Earlier, this was bank guarantee chargeable for the entire course which was about Rs 36 lakh for MBBS.
The same amendment in rules was earlier brought in Andhra Pradesh as well. Parents had been agitated by the bank guarantee clause, saying it was difficult to arrange for such a huge amount of money. Colleges had stated that they needed a hedge against students dropping out midway.