This bond referred to as the 'seat leaving' bond is a legal document signed between the student and the college which imposes a hefty fine on the students on leaving their medical education midway.
Each state has its own criteria and bond policy that candidates must sign before being admitted to various medical institutes in India. This bond was started to discourage students from wasting medical seats, which are valuable and in scarcity, given the huge number of students who want to be admitted to medical colleges. In medical colleges, bonds are classified under three types: service bonds, discontinue penalty bonds and bank guarantees.
The fine may range from as high as Rs 50 lakh in some states like Telangana to Rs 5 lakh in others. The fine for leaving a seat midway in Maharashtra is Rs 20 lakh. Additionally, the students are also banned from appearing in the National Eligibility cum Entrance Test (NEET) for one year.
"The medical seat leaving bond is needed, keeping in mind the fact that every year lakhs of students compete for a medical seat. Competition is so high, that even a mark also means people who can't make it, wait for the whole year and repeat the exam. Therefore, such a valuable seat can't be wasted," said Dr Kathak ModiShah, a dermatologist and aesthetician.
This story is from the July 03, 2024 edition of The Free Press Journal.
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This story is from the July 03, 2024 edition of The Free Press Journal.
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