Bank a/c directive puts students, teachers in a fix

Bank a/c directive puts students, teachers in a fix

The recent directive of the Social Welfare Department to credit incentive for meritorious students directly into their savings banks account has put the students and teachers in a fix. 

Students of Scheduled Castes and Scheduled Tribes who secure more than 60 per cent marks in SSLC examination are entitled to an incentive of Rs 5,000. Till now, the incentive amount was being paid through cheque. 

Core banking facility

The direction comes in the wake of the decision to pay the amount through Real Time Gross Settlement (RTGS). Furthermore, the students are required to open a savings bank account with the banks which have core banking facility.

According to the available statistics, only 12 per cent of the SC/ST students secure more than 60 per cent marks as of now and teachers feel that the direction to open bank accounts for all the students irrespective of their results defies logic. 

None of the banks provide ‘no frill account’ (accounts with zero balance). A student has to open an account by depositing a minimum sum of Rs 500.

SSLC examinations are scheduled for April and the results will be out by May. It would be July by the time the Karnataka Secondary Education Examination Board furnishes the list of meritorious students to the Social Welfare Department. The students, therefore, are likely to get the sum credited to their account by August.

Under the present system the incentive money is being deposited to the bank accounts of the parents of the students. 

All schools now have the details of bank accounts of parents. Teachers also feel that that the performance of students will be affected if they approach banks now to open accounts.