Cash Prizes to Meritorious Students
The objective of the practices
- The institution aims to encourage the students to study well and dedicate maximum time for continuous learning.
- Another objective of this practice is to provide financial assistance to meritorious students.
- To inculcate the values of generosity and a sense of social responsibility among the students.
Context
The management decided to keep a certain amount as a fixed deposit in the bank to generate a regular source in the form of annual interest and be distributed as a cash prize. After a thorough discussion in the staff meeting, many faculty members agreed to contribute individually towards the corpus fund. With a generous contribution from faculty members, a fund of Rs 1.75 lakh has been collected and kept as a fixed deposit in the State Bank of India. Annual interest earned on this deposit is approximate Rs.12,500/- and is distributed as a cash prize for deserving students.
The Practice
- This practice of awarding a cash prize to meritorious students is unique in this locality since other colleges in the town do not have this practice.
- We select the students securing the highest marks in each subject as meritorious.
- The total amount of Rs 12,500/- annual interest earned on the deposit is distributed as a cash prize among the top scorers.
- These cash prizes are announced in the orientation programme and are distributed in the Gymkhana Activities Inauguration ceremony held usually in the first month of the academic year.
Evidence of Success
- An increased academic interest is noticed among the students.
Problems Encountered and Resources Required
- Collection of funds was the major problem encountered.
- Collection of funds was the major problem encountered.