Bhubaneswar: In a relief for non-govt higher educational institutions, the state has substantially reduced the mandatory pledge money requirement, and allowed colleges to withdraw excess deposits locked with the higher education department for infrastructure development and institutional strengthening.The department released a notification in this regard on Monday, rationalising the pledge money and current account norms applicable to colleges under its administrative control.As per the revised norms, non-govt unaided, self-financing and professional colleges will now be required to maintain pledge money of Rs 5 lakh, while non-govt aided colleges, including those receiving block grants, will have to maintain only Rs 1 lakh. Institutions that have deposited amounts exceeding these limits will be eligible to withdraw the surplus funds, including accrued interest in the case of fixed deposits. More than a decade back, the pledge money for non-govt unaided and self-financing colleges was close to Rs 15 lakh.The govt has also done away with the requirement of maintaining a prescribed minimum balance in current accounts. However, institutions must ensure that sufficient funds remain available to meet employees’ salary obligations for at least two months.The department specifies that the withdrawn amount can be used only for institutional development and strengthening. For unaided and self-financing colleges, the funds may be spent on infrastructure development, installation of CCTV systems linked to centralised monitoring platforms, fire safety measures, procurement of furniture, construction and renovation works, and improvement of academic and student facilities.Aided colleges will also be allowed to utilise the released funds for priority areas such as CCTV installation, fire and safety infrastructure, strengthening laboratories and libraries, procurement of classroom and hostel furniture, and renovation of academic buildings.Officials said to access the funds, institutions will have to submit a detailed utilisation plan to the regional director of education (RDE). The RDE will examine the proposal and approve the withdrawal after assessing the institution’s requirements. Colleges will subsequently be required to submit utilisation certificates and supporting documents, while the RDE will retain powers to inspect and verify the use of funds.The department has made it clear that institutions operating under temporary or prolonged provisional recognition, and those that have not fulfilled conditions relating to land, buildings and other mandatory infrastructure will not be eligible to withdraw excess deposits until such deficiencies are rectified.The department also mandates installation and operationalisation of CCTV camera systems in accordance with the govt-prescribed standards to facilitate uniform monitoring at the state level. To prevent misuse, it has warned that diversion of funds or failure to discharge academic responsibilities towards students could invite stringent action, including withdrawal of recognition, closure of institutions, recovery of funds and legal proceedings under applicable laws. Further, in the event of closure of an institution, 50% of the pledge money will be liable to be forfeited by the govt.
