SCHEME OF ‘LIC GOLDEN JUBILEE SCHOLARSHIP’ FOR STUDENTS BELONGING TO THE ECONOMICALLY WEAKER FAMILIES FOR PURSUING HIGHER STUDIES.
LIC Golden Jubilee Foundation was established on 20.10.2006, and registered with Charity Commissioner under Bombay Public Trust Act 1950 with the objective of promoting education, health, relief of poverty or distress and advancement of other objects of general public utility.
To achieve these objectives, the foundation works with human and capital resources received from LIC.
Projects range from scholarships, health initiatives, rural education programmes and providing infrastructural support in fields of education and health.
1. OBJECTIVE
The objective of the scheme is to award scholarships to meritorious students belonging to economically weaker sections of society so as to provide them better opportunities for higher education increase their rate of attainment in higher education and enhance their employability.
2. SCOPE
The scholarship is to be awarded for studies in India in a government or private
college/university,. It will also cover technical and vocational courses in Industrial Training Institutes/ Industrial Training Centers affiliated with the National Council for Vocational Training (NCVT) of classes at Graduation level.
3. ELIGIBILITY
Students who have passed Class XII exam or its equivalent in Year 2009 and are interested to pursue higher education in the field of
a) Engineering
b) Medicine
c) Arts/Science/Commerce
d) Diploma Cources in any field and
e) Any Vocational course which leads to immediate employment and where minimum education qualification stipulated is plus 2
Scholarship will be awarded to the students who have secured not less than 60% marks or equivalent grade in the Class 12 or its equivalent final examination and the annual income of whose parents/guardian from all sources does not exceed Rs60,000/ per annum.
4. DURATION
Scholarship shall be provided for the entire course.
5. RATE OF SCHOLARSHIP
Rs.10,000/- per annum, Rs.1000/ payable monthly for ten months directly into the bank account of the Beneficiary.
6. CONDITIONS FOR SCHOLARSHIP
(i) Scholarship shall be awarded to the students who have secured not less than 60% marks or equivalent grade in the previous final examination and the annual income of whose parents/guardian from all sources does not exceed Rs.60,000/ per annum. Students having the lowest family income shall be given preference in the ascending order.
(ii) The scholarship shall be discontinued if a student fails to secure 50% in B.A./B.COM. and 55% marks in other streams or equivalent grade, in the previous final examination of the course for which scholarship is awarded. Scholarship shall not be awarded for more than the normal period of time taken to obtain certificate/degree.
(iii) Scholarship shall not be given to more than one student in a family.
(iv) The students should be regular in attendance for which the yardstick shall be decided by the competent authority of the school/college/university.
(v) Income certificate should be on self-certification basis by way of an affidavit on non-judicial stamp paper for self-employed parents and from employer for employed parents supported by documents such as land held by revenue department in the name of parents.
(vi) If a student violates any other term and condition of the scholarship, the scholarship may be suspended or cancelled.
(vii) If a student is found to have obtained a scholarship by false statement/certificates, his/her scholarship shall be cancelled forthwith and the amount of the scholarship paid shall be recovered, at the discretion of the concerned Divisional Administration of LIC.
(viii) LIC Golden Jubilee Foundation will lay down the detailed procedure for processing and sanctioning of scholarships to eligible students.
(ix) Scholarship shall be credited to the student’s bank account maintained at the place of study. Efforts shall be made for transferring it electronically through the banks.
(x) The scheme shall be evaluated at regular intervals by the LICGJF.
(xi) The regulations can be changed at any time at the discretion of the Board of Trustees of LICGJF
7. RENEWAL OF SCHOLARSHIP
The scholarship, once awarded, may be renewed during the next academic year of the course on the production of certificate that the student has secured 50% in B.A./B.COM. and 55% marks in other streams or equivalent grade in the examination.
8. MODE OF APPLYING
