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The Commercial Bank of Ceylon recently presented 25 more scholarships to needy undergraduates under its programme to promote the creation of wealth by supporting the higher education of future generations.
This was the third such presentation of undergraduate scholarships by the country’s benchmark private bank. In its first disbursement, the Bank presented 100 scholarships, and announced it would award 25 every year thereafter.
Selected undergraduates are entitled to receive Rs. 2,500 in scholarship money per month for ten academic months of every year that they study at the University, under this programme launched by the Bank’s Corporate Social Responsibility Trust. The Bank has to date presented 150 scholarships to undergraduates.
The 25 undergraduates who received scholarships this year represented five faculties including the Management Faculty of the University of Colombo, Management and Medical faculties of the University of Jaffna and the Medical Faculties of the Universities of Peradeniya and Ruhuna.
Commercial Bank is committed to assist the education sector and has recognized undergraduates a special category that is vital to the country’s future.
Recipients of this year’s scholarships too were identified with the assistance of the University Grants Commission (UGC). Being ineligible for Mahapola or any other scholarship programme, the number of attempts made at the GCE A/L examination, the number of school-going children in the family, parental income and the distance between the university and the student’s home are some of the factors that are taken into consideration.
Sri Lanka’s Gross Enrollment Ratio for higher education is 21 per cent and is the highest in the South Asian region. This scholarship scheme is of particular importance to undergraduates who do not receive any other assistance.
The Commercial Bank also has a reward scheme for deserving younger students. All holders of Arunalu minors accounts who excel the year 5 scholarship examination every year are given valuable cash prizes. Since its inception more than 1,200 cash awards totalling Rs 8.73 million have been presented to such students.