Revolving fund: govt. sanctions₹16 crore

The Tamil Nadu government on Monday issued orders to sanction ₹16 crore for the creation of a revolving fund to enable the payment of all kinds of essential fees and hostel fees for students who have obtained admission under the 7.5% preferential allotment of seats in MBBS/BDS programmes, in line with the announcement made by Chief Minister Edappadi K. Palaniswami earlier.

The revolving fund will support students who obtain admission under this quota in government medical and dental colleges as well as self-financing medical and dental institutions. According to a G.O. issued in this regard by Health Secretary J. Radhakrishnan, the fund would be managed by the Tamil Nadu Medical Services Corporation Limited. “Separate action will be initiated for the availing of benefits of eligible scholarship and educational assistance under various categories by eligible students from such categories, and the amount so received will be used to partly replenish the revolving fund from the departments concerned,” it said.

The Director of Medical Education is authorised to draw and disburse the sanctioned amount, and is the estimating, reconciling and controlling authority for the fund.

Access the G.O. here: https://bit.ly/TNRevolvingFund