You will be happy to know that we have reached our target for the Nikhil Kamath Scholarship. :) (Click here for the latest account transfer record).
This is a great occasion as our plans to honour Nikhil have crossed a major hurdle. It wouldn't have been possible but for every single person's initiative and contribution and only goes to show the great bond in our batch and the respect we had for Nikhil.
To be honest, I did not think we would be able to achieve the target and now that we have, I am even more proud to have been a student of PSBB 2005 batch. Great work, people, you were all awesome. This especially includes a few of my batchmates from IIT-M who did their bit by contributing to the NDK Scholarship.
Now, some details on the actual plan ahead. My previous post on this topic, contained some incorrect details. What we plan to do is the following:
1) Draw two cheques. One cheque for Rs.1.25 lakh and for Rs.15,000.
2) The first cheque will be deposited into an account created by PSBB for this purpose. Every year it will accrue interest and the prize money will be awarded from the interest gathered. This will ensure that the NDK Scholarship can be awarded annually if need be.
3) The other cheque will be used to institute the award this year. The amount of Rs.15000 will be used for the following purposes:
-- Purchasing the 2 rolling shields - Between 5000-6000
-- Engraving costs etc. - A minor amount
-- Prize money for this year - Rs.8000The above steps which need to be taken sound simple enough and we expect to do this very soon.
There may be a few people who are in the process of donating and may still like to. We are planning to give a cheque with the amount specified only and would not be immediately using or transferring any extra money that is donated. Though it would not hurt in having an extra amount, I request that any process that has been started in this regard, be put on hold.
If you have any doubts on the above issue or anything else, as always you can contact K.N.Ramachandran (knram06 [at] gmail [dot] com) or V.M.Avinass Kumar (avinasskumar [at] gmail [dot] com).
I will keep you updated on further important events, especially when we hand over the amount to PSBB. Once again, I would like to say kudos to all those who have contributed and helped us achieve this goal. We haven't yet reached our final and most important aim, but a major part of the work has been done.
Thank You
