Scholarship Wallet & Transparent Disbursement System
Basic Shiksha Foundation
Educate • Empower • Elevate
1. Our Commitment to Transparency
Basic Shiksha Foundation has developed a Scholarship Wallet system to maintain transparent communication and accurate records of scholarship-related credits, withdrawal requests, disbursements and remaining balances.
The system enables students to review their scholarship records, understand their withdrawal eligibility and track the status of their requests through their individual accounts.
The Scholarship Wallet is an organization-managed digital record-keeping and communication facility. It is not a bank account and is not intended to function as an independent banking service.
2. One-Time Registration Fee
The standard registration fee for new applicants is ₹101.
This fee supports the registration process and the proper operation and administration of the Foundation's student support system.
- The registration fee is non-refundable, subject to applicable law and the published terms.
- Registration is intended to remain valid until the student completes graduation, subject to the applicable programme rules.
- A valid registration does not guarantee scholarship selection or a particular scholarship award.
- Students must follow the eligibility and application requirements of each scholarship scheme.
3. Initial Scholarship Wallet Credit
After successful registration under the applicable programme, ₹101 is credited to the student's Scholarship Wallet under the Foundation's stated model.
The registration fee paid by the student and the initial wallet credit are separate entries and must be accounted for separately.
The initial wallet credit establishes the student's recorded wallet balance. Its availability for withdrawal is subject to the applicable locked-balance policy.
4. Why Is a Portion of the Wallet Balance Locked?
The Foundation maintains a minimum locked balance to preserve the continued functionality of the Scholarship Wallet system.
The Foundation has observed that immediate withdrawal of the entire initial credit can prevent the wallet from serving its intended ongoing operational purpose. Accordingly, a portion of the initial wallet balance is restricted from withdrawal.
For students registered under the new policy:
- Initial wallet credit: ₹101
- Locked balance: ₹100
- Initially available for withdrawal: ₹1
The locked balance is a restriction on withdrawal. It is not an additional registration fee or a separate processing charge.
The applicable locked amount is determined by the policy assigned to the student's account.
5. Different Locked-Balance Rules for Existing and New Students
The Foundation may maintain different locked-balance rules for accounts registered under different policies.
- Accounts governed by the earlier policy may have a locked balance of ₹40.
- Accounts governed by the new registration policy have a locked balance of ₹100.
The applicable amount will be displayed in the student's withdrawal interface.
An existing student's locked balance will not automatically change from ₹40 to ₹100 merely because the new registration policy has been introduced. Any change to an existing account's terms must be communicated clearly and handled under the applicable policy.
6. Understanding Your Scholarship Wallet Balance
Students should understand the following terms:
Total Scholarship Credits: The cumulative scholarship-related credits recorded in the wallet, according to the programme's accounting rules.
Remaining Wallet Balance: The balance remaining after accounting for applicable credits, completed withdrawals, transfers and adjustments.
Locked Balance: The portion of the remaining balance that cannot be withdrawn under the policy applicable to the student's account.
Available for Withdrawal: The amount eligible for a withdrawal request after applying the relevant locked-balance restriction and other applicable conditions.
These figures may differ. Students should refer to the current wallet dashboard for their actual balance and withdrawal eligibility.
7. Requesting a Scholarship Withdrawal
Students may request withdrawal of an eligible amount according to their requirements, subject to the following conditions:
- The remaining scholarship balance must satisfy the withdrawal threshold displayed in the student's account.
- The applicable locked balance must remain protected.
- The requested amount must not exceed the maximum eligible withdrawal amount displayed by the system.
- The student must provide accurate bank account details, including the account holder's name, account number and IFSC code.
- Each request is subject to administrative verification and approval.
The system will calculate the maximum eligible withdrawal amount according to the student's recorded balance and applicable locked-balance policy.
For example, if a student has a remaining wallet balance of ₹500 and a locked balance of ₹100, the maximum eligible withdrawal amount would be ₹400, assuming no other restrictions or pending transactions apply.
8. Withdrawal Processing and Bank Transfer
After a withdrawal request is submitted, the Foundation's administration reviews the request and verifies the relevant information.
The general process is:
Request Submitted → Under Verification → Approved → Bank Transfer Processing → Completed
- The usual processing period is 2-5 business days after approval, subject to verification and payment processing.
- Approval does not, by itself, mean that the bank transfer has been completed.
- A withdrawal is treated as completed only after successful disbursement.
- If a transfer fails, the transaction status and corresponding wallet balance must be updated appropriately.
- Students may receive email notifications regarding the status of their requests.
Approved scholarship amounts are transferred to the eligible student's or parent/guardian's bank account, as permitted by the applicable scholarship programme.
9. Transparent Transaction History
The Scholarship Wallet maintains a record of relevant transactions to help students understand their scholarship-related financial activity.
Depending on the transaction, the record may include:
- Transaction date and time
- Scholarship credit amount
- Withdrawal request amount
- Approved amount
- Successfully transferred amount
- Transaction status
- Transaction or reference ID, where available
- Remaining wallet balance
Students can review their withdrawal requests through the Withdrawal History section of their account.
Only successfully completed disbursements should be counted as completed transfers. Pending requests, approvals and failed transfers should be identified separately.
10. Important Information Before Requesting Withdrawal
Before submitting a withdrawal request, students should:
- Verify the bank account holder's name, account number and IFSC code.
- Check their remaining wallet balance.
- Review the locked balance applicable to their account.
- Confirm the maximum eligible withdrawal amount.
- Check the status of any earlier withdrawal requests.
Incorrect bank details may cause transaction failures or delays. Students should report any incorrect wallet entry or transaction status through the Foundation's official support channel.
11. Fee Waiver for Students in Need
Basic Shiksha Foundation recognises that some students may be unable to afford the registration fee.
Students facing genuine financial difficulties may request free registration through a recommendation from their school.
Such requests will be reviewed under the Foundation's fee-waiver procedure. The objective is to reduce financial barriers for deserving students while maintaining a transparent registration process.
12. Scholarship Selection and Disbursement
Scholarship selection is conducted according to the eligibility, verification and selection criteria of the relevant scheme.
The following are separate processes:
- Student registration
- Initial wallet credit
- Scholarship application and verification
- Scholarship selection and award
- Withdrawal request
- Successful scholarship disbursement
Registration or an initial wallet credit does not guarantee selection or any particular scholarship award.
Scholarship awards and disbursements will be recorded according to the relevant scheme's rules and the Foundation's accounting procedures.
13. Policy Transparency and Updates
The Foundation aims to communicate the registration fee, locked balance, withdrawal eligibility, processing procedure and applicable terms clearly to students.
The locked-balance rule applicable to a student's account will be displayed in the relevant wallet or withdrawal interface.
Any material change to the policy will be communicated to affected students, and account terms will be administered in accordance with applicable law.
Students should consult the official website and their account dashboard for the latest applicable programme information.
Our Mission
Basic Shiksha Foundation aims to make scholarship administration more transparent, understandable and accessible.
Through the Scholarship Wallet, students can review their recorded scholarship credits, understand their available balance, submit eligible withdrawal requests and track the progress of their disbursements.
Basic Shiksha Foundation
Educate • Empower • Elevate
