Opportunity to Institute Gold Medals and Cash Awards
Dr. Murthy K N B
People’s Education Society (PES) was established in 1972 with a vision to create a professionally superior and ethically strong global workforce. PES has established PES University, under Karnataka Act No. 16 of 2013, as a State Private University on November 19, 2013 as per notification of Government of Karnataka. PES University is also recognized by UGC, New Delhi as a State Private University and is a member of International Association of Universities (IAU). The University holds an annual CONVOCATION to award degree certificates to its graduating students and honorary doctoral degrees to select achievers. During the Convocation, meritorious students are conferred RANK AWARDS and GOLD MEDALS from the University. The top rankers in the University are the students who joined PES University through competitive entrance exams such as CET and PESSAT. Every individual who is endowed with exemplary merit, skills and talent needs to be recognized and honored by the University and the society at large. Keeping this spirit in view, the University has made provisions for others to join the University in celebrating the success of these meritorious students by instituting Gold Medals and Cash Awards by way of depositing a fixed amount in the University Awards Fund. These awards shall serve to motivate many other students to strive for academic excellence. These awards may be instituted in the name of (a) a person (b) a Trust, (c) a Society or (d) an organization. Endowments and donations for the award of Gold Medals and Cash Awards will be accepted by the University under the following conditions:- 1) Donors with intent to institute endowment/s and medal/s in PES University shall submit a proposal to the Registrar. 2) The Registrar, with the approval of the Vice-Chancellor, shall place the proposal before the Academic Council (AC), Executive Council (EC) and Board of Governors (BOG) for their opinion or approval, as the case may be. 3) The decision of the BOG shall be communicated to the Donor. 4) If the proposal is accepted, then the Donor shall deposit Rs.500,000 for instituting a Gold Medal and for cash awards Rs. 100,000 into PESU Awards Fund. There is no provision to institute an award, an endowment, donation or medal on the basis of political affiliation, religion, caste or community. 5) Accepting endowments from foreign individuals, foreign societies, and foreign organizations is subject to prior approval of the Central / State Government. 6) A MOU agreement shall be signed by the Registrar and the donor, clearly enunciating the terms and conditions. 7) The entire amount of endowment donated by the Donor shall be treated as the corpus and the interest earned thereof shall be utilized to defray the expenses incurred towards the cost of the Gold Medal or cash award. 8) The medals shall be called ‘……….………… (name of the Award could be suggested by the donor) Gold Medal’ and shall be awarded during the Convocation every year, as per the criteria for award of medals and the MOU with the donor. The first medal shall be awarded after accrual of one year’s interest on the endowment. 9) The University shall have the power to award a cash prize whenever the interest from the endowment is insufficient for the award of Gold Medal, in which case, it shall be called, ‘………………. (name) Cash Award’. 10) In the event of no medal being awarded in a year, the amount equivalent to the cost of the medal shall be added to the corpus. Similarly, any amount of interest over and above the cost incurred for awarding a medal in a year shall be added to the corpus. 11) The University shall have the power to negotiate with the donor for increasing the donation, whenever the funds are insufficient to carry out the purposes to which the funds have been endowed. 12) The University shall intimate the name of the student receiving the Gold Medal / Cash award instituted by the Donor 13) The University shall extend an invitation to the Donors for the award ceremony and treat them as VIPs at the event. 14) In the event of refusal by the donor to increase the endowment amount, the Institute shall have the power to cancel the endowment and the unspent amount of endowment shall be added to the corpus. 15) At least 5 regular candidates should have successfully passed in the University examination concerned. 16) The candidate should have passed the examination in the First Class with Distinction and in the first attempt, in consecutive years, in all the years/parts/phase of the courses, with no gaps of studies, for any reason, whatsoever. The candidate should not have obtained the transitory grades such as W or I during entire duration of the program of study. The candidate should therefore have completed the course in the minimum prescribed time frame for that program of study. 17) Further, the candidate should have obtained highest aggregate CGPA amongst all the eligible candidates, in the Program of Study concerned, at the University examination held in that year. 18) In case of a tie, the medal/ cash prize shall be awarded to a student with highest CGPA at end of previous semester. Still, if there is a tie, then the amount shall be apportioned equally among the candidates. 19) In case of endowments and medal sponsored for a particular subject by the donor, all the above criteria such as first attempt, minimum duration and not obtaining transitional grades shall apply except that the candidate should have secured highest grade and/or marks in the subject concerned in that year. 20) The list of awardees for the gold medals/ cash prizes shall be prepared by the Controller of Examinations well in time to ensure presentation of the awards in the Convocation.