Patna University Moves to Revive Defunct Endowments for Student Support
Patna University (PU) has embarked on a significant initiative to revitalize all its 'defunct' endowments, aiming to provide crucial financial assistance to poor and meritorious students. These endowments, generously donated by various trusts and philanthropists over the years, have largely become dysfunctional, with funds lying idle in bank accounts.
Details of the Endowment Revival Plan
According to university sources, a total of 156 endowments and funds were established at PU to offer scholarships and gold medals to deserving students. However, an inquiry revealed that the money in these accounts is so minimal that it is insufficient for disbursing any meaningful support. In response, the university is proactively reaching out to the original donors or their dependents, requesting additional contributions to breathe new life into these endowments. Some donors have already agreed to assist in this revival effort.
Ganesh Dutt Trust Fund: A Case Study in Adaptation
At a recent meeting of the Ganesh Dutt Trust Fund, chaired by Vice-Chancellor Namita Singh, a decision was made to award gold medals to at least four top-performing students from different faculties on a rotational basis. These medals will be funded from the annual interest of the trust, which holds nearly Rs 30 lakh, and will be presented at the university's annual convocation.
PU syndicate member and JD(U) leader Nitish Kumar Tantan explained that historically, this trust provided loan scholarships to PU scholars pursuing higher studies abroad. However, many beneficiaries from 1934 to 1968 failed to repay their loans, despite achieving academic success and prominent positions. Consequently, the trust has shifted its focus from loans to awarding gold medals to ensure sustainable support for students.
List of Defunct Gold Medal Funds and Other Endowments
The 'defunct' gold medal funds targeted for revival include:
- Gait English Gold Medal Fund
- Shrimati Radhika Sinha Gold Medal Fund
- Shaw Memorial Medal Fund
- Rabindra Nath Mukherjee Gold Medal Fund
- Sifton Gold Medal Fund
- I N Chandra Gold Medal Fund
- Mcpherson Gold Medal Fund
- Justice Kulwant Sahay Gold Medal Fund
- Langat Singh Gold Medal Fund
- Sir Ali Imam Gold Medal Fund
- V K N Menon Gold Medal Fund
Additionally, other notable endowments such as the Indian History Culture Maharaja Darbhanga Readership Fund, Banaili Economics Readership Fund, Maharaja Darbhanga Maithili Development Fund, Bailey Memorial Library Fund, and Hathwa Raj Scholarship Fund are part of this initiative, as highlighted by PU development officer Khagendra Kumar.
Broader Implications for Higher Education
This move by Patna University underscores a proactive approach to leveraging historical philanthropic contributions for contemporary educational needs. By reviving these endowments, the university aims to enhance its support system for students facing financial hardships, thereby promoting academic excellence and inclusivity. The effort reflects a commitment to honoring the legacy of past donors while adapting to current challenges in higher education funding.
