Frequently Asked Questions (FAQs)

1. 1. What kind of fund are you proposing?
      1. We are proposing a perpetual Traditional Endowment where the interest on the principal amount will be used to fund scholarships.
   2. How much money is being raised for the fund?
      1. US $125,000 or equivalent of it. In today’s currency exchange rate this would be INR 10,625,000.
   3. What would it do for the student?
      1. This amount will sponsor 1 female student’s undergraduate education for 4 years depending on the program. It will cover their Tuition Fee and all on-campus Living Expenses.
   4. How much do I have to contribute?
      1. $1,250 or INR 1,06,250
      2. You can donate either in USD or INR.
   5. Is this a one-time contribution? Or ongoing?
      1. It is a one-time donation.
   6. What if I want to donate more than $1,250 or INR 1,06,250?
      1. Yes you can. We are very grateful and thankful for it.
      2. You can donate any amount you would like. The minimum is $1,250 or INR 1,06,250.
   7. How will this Fund work?
      1. The interest generated from the Fund will be used to pay the Tuition fees and living expenses.
      2. If the interest is insufficient to match the fee, a top up would be done so that the interest earned is more than the fee.
      3. It is a perpetual fund.
      4. It will fund 1 student for the duration of the Undergraduate Program for 4 or 5 years.
      5. The fund would need to be scaled if there is desire and action to sponsor more than 1 student at the same time.
   8. How would the scholarship work?
      1. The fee amount is INR 5,19,000 for Academic Year 2024-25, INR 5,44,000 for the Academic Year 2025-26, and so on... This is due annually. Plus living expenses on the campus need to be covered.
      2. Minimum Commitment is for 1 student for the duration of the undergraduate program, all 4 years.
      3. The interest earned (almost 6.5% - 7% now in India) on $125,000 / INR 10,625,000 would be used to fund the scholarship. For example, the interest earned at 7% is INR 743,750 which will go towards paying the Tuition Fee and Expenses.
      4. It is long lasting, perhaps 6 to 8 years before a small top up is required.
   9. What are the benefits of this Endowment Fund?
      1. The Fund improves access to Quality BITS education for merit-cum-need female students who otherwise would not be able to access it without the financial help provided by this Fund.
      2. The Fund will support underprivileged female students. This will balance the demographics of undergraduate students on the Pilani campus (balance needs to involve gender).
      3. The Fund will support female gender students. This was decided based on the big gap in girl student attendees at BITS (8-9% only), in the undergraduate programs.
   10. What is the total expenditure of the project?
       1. It would be under 7 lakhs per year for 4 or 5 years depending on the duration of the undergrad program.
       2. The fee amount is, i.e., INR 5,19,000 for Academic Year 2024-25, INR 5,44,000 for the Academic Year 2025-26. This is due annually. Plus living expenses on the campus.
       3. The above is for 1 student.
       4. It will be covered for all 4 or 5 years of the Undergrad Program.
   11. Is the Golden 76 Scholarship for only one year 2025-26 or going to be given every year?
       1. It will be given for the duration of the Program.
       2. The student will need to maintain the required GPA to continue being a recipient of the scholarship.
       3. BITS Administration will administer these qualifications.
       4. BITS will report on these to the ‘76 Alumni Batch via an email at the end of each Semester.
   12. Which countries can you raise funds from?
       1. India, USA, Canada
       2. Let us know which country you want to donate from and we can find a way to collect the funds.
       3. BITS and BITSAA can only issue Tax Statements in India, Canada, and USA.
   13. Can I use my company match?
       1. Yes.
       2. You need to tell us that you did the matching and track it.
   14. How many students can you sponsor at a time?
       1. We can sponsor 1 female student for the duration of the undergrad program.
       2. Sponsorship continues only if the student maintains the required GPA and Code of Conduct as set by the BITS Administration.
   15. How is the donation managed?
       1. The donation is managed by BITS (India and Canada) and BITSAA (USA).
   16. How would you select a student?
       1. Female applicants will be ranked by BITS Administration using the standard admission selection criteria and procedures.
       2. Once the applicants  are ranked based on merit, the additional criteria of their financial situation will be used to decide the final recipient.,etc.
       3. There are no restrictions on the program that a recipient student can select.
   17. Is my donation to the Endowment Fund tax deductible?
       1. Donations from India, USA (through BITSAA), and Canada are Tax deductible.
       2. Donations from other countries are welcome, but they are not eligible for Tax deduction. BITS is looking to add more countries to this list.
       3. BITSAA will send out the Tax Deduction letter before the end of Fiscal Year in the year the donation is made and consumed. For donations made in India, they need to be consumed within the same FY.
   18. How will the fund be managed?
       1. Administration of the Endowment Fund will be done by BITS.
       2. BITSAA will give periodic updates to the ‘76 Batch.
   19. What if the minimum Grade requirements are not met by the student?
       1. 1. The student is given a grace period to improve their grades.
       2. Do we stop the scholarship for this student after the grace period expires with no improvements?
          1. Yes, and we assign it to another merit-cum-need student.
   20. How will funds be collected?
       1. Endowment contributions in the US can be made via the bitsaa.org website, wires, cheques or appreciated securities. BITSAA is a 501c3 organization in the US and donors can access tax benefits in line with US tax laws for charitable deductions.
       2. The Memo will mention the Golden 76 Scholarship Endowment Fund for these funds to appropriately be allocated to this scholarship disbursement.
   21. How does one pay to the Endowment Fund?
       1. See the instructions above.
   22. How does the Endowment Fund pay to BITS?
       1. BITS manages this Fund and would use the accrued interest to pay to the scholarship recipient to pay for the expenses.
   23. What are the procedural steps to be followed to bring this to fruition?
       1. BITS is setting up a web page with all this information for you to make payment. Once all the payments are collected, they would set up the FDs in INR and USD and let the interest accrue. This interest would be used to pay for the annual expenses of a student.
       2. Once the merit-cum-need student is identified by BITS, within the framework provided by us,
   24. How are the funds disbursed?
       1. Are they sent to the Receiver’s Bank Account? Yes.
       2. Or are the expenses paid directly to relevant organizations within BITS for Tuition, Housing, Meals etc. related expenses? No.
   25. Does this fund qualify for CSR activity in India?
       1. Yes.
   26. Can this be funded, fully or partially, by a company as part of their CSR efforts?
       1. Yes, it can be funded by CSR. And Tax exemptions would apply per Indian Laws.
   27. What if we raise more than $125,000?
       1. That would be an awesome milestone for ‘76’s Batch’s generosity! If it is a multiple of $125,000, then we sponsor the next set of students as long as the earned interest can support them.
   28. Can you tell us how much will be my tax benefit?
       1. Your Tax benefit depends on your tax bracket.
       2. Please contact your Tax Accountant or Financial Planner to get an exact number.
   29. Can I do the payment in Stocks?
       1. Yes. BITS/BITSAA would encash it and add it to the Endowment Fund.
   30. Would BITS disclose the student who received the scholarship to the ‘76 Alumni?
       1. Maybe, subject to Privacy considerations and if the Recipient agrees to it.
   31. Would BITS provide ongoing communications (student performance, graduation date) to the ‘76 Batch?
       1. This will help us measure the efficacy of the Endowment Fund.
       2. Yes, BITS would provide ongoing updates on the usage of Endowment Fund.
   32. Where can I find more information on this?
       1. 1. https://www.bitsaa.org/page/endowments
          2. BITS Investment Policy: https://media.almabaseapp.com/212/uploads/78abd948001c436495638aa6cd367f0f.pdf
   33. How do I know if my employer would match my contribution?
       1. https://www.bitsaa.org/page/gift-matching and enter your Company name to see if your employer would match your contribution.
   34. I would like to speak with someone on this before committing to this amount?
       1. Please reach out to Guru Matharu (gcsmatharu@gmail.com), Dilip DSouza (dilipd@gmail.com),  or Sanjiv Taneja (taneja.home@gmail.com) in India.
       2. Sanjoy Ghosh (sanjoy@yahoo.comsanjoy@yahoo.comsanjoy.ghosh@gmail.com) or Ajaya Gummadi (ajaya.gummadi@gmail.com) in the US and Canada time zones.

For more information on the Endowment Fund, please contact any of your batcmates:  ajaya.gummadi@gmail.com; ; gcsmatharu@gmail.com; dilipd@gmail.com; taneja.home@gmail.com

For any questions, please send an email to:

Prof Rajeev Sakuja at rajeev.sakhuja@pilani.bits-pilani.ac.in and

Ms. Alolika Mukherjee at  alolika.mukherjee@pilani.bits-pilani.ac.in