Maharashtra FRA directs colleges to reveal all 'caution money' info before fee hike

Maharashtra colleges need to disclose the amount refunded and pending refunds. Also, FRA directed the colleges to submit the online proposals for approval of fees for the AY 2024-2025 by October 31, 2023.

Fee Regulating Authority Maharashtra has directed all colleges in the state to disclose all the amount they charge student as caution money in their fee revision proposals. The colleges should submit this information in the affidavit they submit to the FRA for their 2024-25 revision proposals.

The colleges also need to submit original and true copies of documents in the form of a hard copy. The colleges need to submit their audit reports, expenditures on salaries, capital expenses and student strength. The colleges must submit TDS return/statement for salary and, a copy of the income tax return filed by the Trust and /or college/institute for the Financial Year 2022-23.

The colleges can submit online proposals by visiting the portal and using user-id and password as provided by the Fees Regulating Authority to respective institutions who are already registered.

The original copy of the bank statements must be attested as 'True Copy' by the Branch Manager of the bank. All relevant entries showing payment of salary made through the Bank and claimed as an expenditure be distinctly marked and highlighted.

Moreover, FRA said that all the unaided professional colleges/institutions running the graduate and/or post-graduate courses affiliated with the university within the state of Maharashtra are hereby notified that the link for submission of the proposal for approval of fees for the academic year 2024-2025 shall be open w.e.f. October 2, 2023, and the same shall remain open till midnight of October 31, 2023.

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