Trust Reset

As the recent protests over the NEET paper leak showed, India’s examination system has reached a point where incremental repairs are no longer enough. The appointment of a high-powered task force on examination reforms, headed by technology pioneer Nandan Nilekani, is therefore not merely an administrative response to the NEET-UG paper leak crisis but a concrete attempt to rebuild confidence in one of the country’s most important public institutions. Examinations are gateways to opportunity,...

min read

As the recent protests over the NEET paper leak showed, India’s examination system has reached a point where incremental repairs are no longer enough. The appointment of a high-powered task force on examination reforms, headed by technology pioneer Nandan Nilekani, is therefore not merely an administrative response to the NEET-UG paper leak crisis but a concrete attempt to rebuild confidence in one of the country’s most important public institutions. Examinations are gateways to opportunity, social mobility and professional ambition. For millions of students across the country, a competitive examination represents years of sacrifice by families and the possibility of a better future. When question papers leak repeatedly, evaluation systems fail or allegations of manipulation emerge, the resulting damage strikes at the idea of fairness itself. The crisis surrounding NEET-UG exposed uncomfortable vulnerabilities in the country’s examination infrastructure. The resignation of Education Minister Dharmendra Pradhan and the subsequent appointment of Pralhad Joshi with additional charge of the ministry underlined the political seriousness of the issue. But political accountability alone cannot fix a structural problem. That is why the composition of the new task force is a move on the right direction. It brings together expertise from technology, space research, intelligence, education administration and logistics. Nilekani’s appointment is particularly significant. The former Infosys chief executive and architect of Aadhaar has experience in building large-scale digital public infrastructure involving hundreds of millions of citizens. The Aadhaar project itself was born out of a similar challenge: how to create a reliable identity system in a country where leakages and duplication weakened welfare delivery. India’s examination system now requires the same kind of thinking. The committee’s mandate to examine the entire examination lifecycle - from question paper creation and distribution to candidate verification, evaluation and results - is the right approach. The problem lies in multiple weak points where human intervention, poor security protocols and outdated processes can create opportunities for malpractice. Technology will inevitably be central to the solution. Artificial intelligence can help detect unusual patterns, blockchain-based verification can strengthen record security and better data systems can improve transparency. But a secure examination system requires independent oversight, professional management, clear accountability and swift punishment for wrongdoing. India’s National Testing Agency was created to bring efficiency and standardisation to public examinations. Its credibility must now be restored through reforms that are visible and trusted by students. The Nilekani task force has been given the difficult job of repairing that trust. The government has chosen a committee led by people with experience of managing complex national systems. It is a sensible first step. The real test will now be whether its recommendations translate into action.

Banking Overhaul

Correspondent
Dec 6, 2024
2 min read

The Lok Sabha’s passage of the Banking Laws (Amendment) Bill, 2024 represents a significant overhaul in India’s banking regulations, with an emphasis on modernising the sector and enhancing customer convenience. The most notable change introduced by this bill is the provision allowing depositors to nominate up to four individuals for their bank accounts or fixed deposits, replacing the current system, which only permits a single nominee. This reform addresses a pressing concern, particularly highlighted during the COVID-19 pandemic when families struggled with the legal complexities of accessing the accounts of deceased loved ones.

The introduction of multiple nominees aims to simplify the often-cumbersome process of fund distribution after an account holder’s death. Under the previous system, a single nominee was named for bank accounts, and upon the account holder’s passing, the sole nominee had to prove their right to the funds, leading to delays, disputes and confusion.

A key innovation of the bill is the option for depositors to choose between simultaneous or successive nominations. In the simultaneous nomination model, depositors can assign specific percentage shares to each nominee, effectively outlining who gets what. In the successive model, nominees inherit the funds in a predefined order, ensuring that if one nominee is unavailable, the next in line will inherit the funds. This dual-option system promises to reduce complications for legal heirs and smoothens the transition of assets. It also ensures that families do not face long delays or legal battles over fund distribution during what is already a difficult time.

The multiple-nomination provision is a welcome change. For many, the process of inheritance has been a source of anxiety, often exacerbated by the legal intricacies and slow-moving bureaucracy. By allowing greater flexibility and clarity, the bill helps to address this gap, making it easier for families to manage the estate of a deceased individual. Moreover, this reform is particularly timely, given the rise in digital banking and online account management. The new system will likely ease the complexities that arise when digital platforms are involved in managing bank accounts after the account holder’s death.

The provision for greater flexibility in auditor remuneration and revised reporting deadlines aims to boost operational efficiency, reflecting the government’s commitment to strengthening banking governance and improving consumer convenience. However, despite the positive changes, the opposition has criticised the bill, arguing that it signals the government’s long-term plan to reduce its stake in public-sector banks. Critics contend that the bill, under the guise of operational efficiency, will pave the way for privatisation by reducing the government’s control over these institutions. While this remains a contentious point, the bill’s provisions on multiple nominations have undoubtedly simplified the process of inheritance, providing greater security and transparency for depositors and their families.

Trust Reset

Banking Overhaul

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