Highlights of the month 
                                                           FY  2018 - 19

Managing Committee monthly meeting was held on 17. 11. 2018 at 5.00 p.m.
Number of members present:  15

Position of inflow of funds during the month, 01.10.2018 to 31.10.2018 and cumulative for the year as on 31.10.2018 are given below.

 

 For Oct.  2018

  Cumulative till 31.10.2018

   Number Rs. Number Rs.
Patrons 4 3,800    9 8,800
Endowments :NEW 5 2,27,000 20 20,93,404
Endowment-Addition 11 5,62,555 47 16,45,234
Donations 2 3,75,000 11 11,15,907
Foreign Loan Repayment - - 2 2,79,867
Advertisement - - 5 1,35,000

 

TOTAL 5,66,500 52,54,712

The League disbursed Rs 105.57 lakhs as free scholarship to 3790 students during the year 2017-18. For the first time since inception, it exceeded Rs. ONE CRORE

Free scholarship to school students is increased from Rs 1,000 to Rs. 1,500/- from this year, (FY 2018-19), which is at par with PUC students. Disbursement of free scholarship is nearly completed barring those whose remittance by NEFT has returned due to various reasons like, the incorrect bank details provided in the application form.

The investment committee ( IC ) comprising of Shri R.R.Kamat, Shri. Anand R. Shanbhag, Shri Ramesh V. Bhandarkar and Shri. V.V. Pai had met on 03.11.2018 to review the status and safety of the present investments and to explore safer options for investments in the coming months. They have recommended some changes in our investment pattern. A comprehensive statement of all the investments is being prepared including the maturity date of each investment. This will be examined by the IC and present their recommendation in the M.C. meeting in December 2018.

91st AGM of the League was held on Sunday 14.10. 2018. 43 members were present. Many expressed appreciation on the progress made towards fulfilling the objectives of the League. Following reports for FY 2018-19 are put up in our website

  1. Report of the Managing Committee.
  2.  Auditor’s Report and
  3. Balance Sheet for the year 2017-18  

In addition to their existing endowments, some donors are coming forward to support a student for the full course, namely, B.Com, B.Sc, Engineering and Medicine. The scheme is already in operation since FY 2017-18.

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