The cash-strapped University of Mysore will constitute a committee to revise its frameworks and regulations governing the institution of gold medals and cash prize consequent to severe erosion in the value of the endowments instituted by well-wishers decades ago.
This was decided at the University Academic Council meeting here on Friday, November 10, which was chaired by Vice Chancellor N.K. Loknath.
The subject came for discussion and a section of the council members including Prof. M.A. Sridhar questioned the rationale of accepting endowment funds and instituting medals in the name of persons not connected to the subject. If the medals were instituted in the names of scientists and scholars who have made a contribution to the subject it will carry more weight, he added. He pointed out that there was no medal per se issued by the University of Mysore and suggested that medals be instituted by the varsity itself stating that it would carry more weight.
However, Prof. D. Anand said that notwithstanding the names after which the medals and the cash awards are awarded to the toppers, it is deemed to be varsity medals and carries as much significance and weight. Besides, commoners keen to patronise a subject or higher studies should not be discouraged from doing so, he added.
In the discussions that followed, the Vice-Chancellor said that in the last month’s convocation of the varsity as many as 350 medals and cash prizes were given away, and for the varsity to institute that many medals would be a huge economic burden. “Even the Governor who is the Chancellor of the varsity expressed the view that there were more medals than courses,’’ he added.
A section of the council members also called for rationalising the methodology of giving away awards as on many occasions candidates tend to be tied with respect to the marks scored and all the candidates with the same marks end up receiving the medals adding to the burden of the varsity.
It was also pointed out that many of the endowment funds were instituted decades ago and the varsity had to utilise the interest earned from such funds for awarding the cash prize. But there has been a gradual erosion in the value of the original endowment consequent to which the interest component is also low.
The Vice-Chancellor announced that a committee will be constituted to study the issue and streamline the process so that any endowments made is big enough to result in a meaningful cash award for 1o to 15 years.
On digital evaluation which came up for discussion, the members expressed their concern over the issue and said that it should be introduced after a prolonged discussion and not based on a newspaper report and press release. The rationale for digital evaluation was that it enabled faster processing of results. But the members said that quality also mattered and convinced by the arguments the Vice-Chancellor deferred the subject. Prof. Sridhar said there were no financial benefits accruing out of it by way of savings and contrary to popular belief such a system will add to the burden, he added.
V.R. Shylaja, Registrar of the varsity and others were present.
