Magadh University seeks details of bank accounts from colleges, departments

Gaya: Did the right hand of Magadh University (MU) know what the left hand was doing? Perhaps no, as the university is unaware of the financial transactions of its constituent units, PG departments, Patna branch office and several dozen vocational courses being run under the self-financing scheme. In order to introduce financial transparency and minimize the chances of fund swindling, the MU vice chancellor Prof Md Ishtiaq has tightened the financial screw and made it mandatory for the principals of the constituent colleges, directorate of distance education (DDE), institutes and vocational courses to furnish details of their bank accounts and fixed deposit receipts (FDRs). 

On the orders of the VC, the registrar, D K Yadav has sought details of bank accounts with updated balance. Allegations of financial mismanagement at different levels and swindling of different funds, particularly those related to vocational courses run under the self-financing scheme have been flying fast and thick in the university. According to sources, vocational courses imparting professional education have become easy milch cows and proper audit of these funds has never been done. 

In violation of Section 35 of the Bihar Universities Act that prohibit any special allowance without the prior approval of the state government, several principals have arbitrarily fixed their own remuneration and draw money in an apparently clandestine manner. 

This duality is all the more pronounced as regular courses suffer for want of financial resources. An impression has been given that revenue generated from the vocational courses was not within the purview of normal financial rules and regulations and those running these courses can do whatever they want with this money. If stories doing the rounds in university circles are to be believed, mind boggling revenue generated by these courses has been indiscriminately drained out. 

As per the notification issued by the registrar, besides providing updated accounts of the vocational courses, the course directors have also been asked to furnish details of the FDRs.

Courtesy: TNN