NMC proposes mandatory corpus fund for medical colleges; incomplete applications to be rejected | India News
New Delhi: To tighten the grip on regulatory compliance in medical education, the National Medical Commission (NMC) has proposed to make a dedicated corpus fund mandatory for new and recently launched medical colleges, warning that incomplete applications will be rejected outright.Under the draft amendments to the 2023 Regulations Governing the Establishment and Expansion of Medical Institutions issued this week, any entity seeking to open a new medical college will have to submit an undertaking that it will maintain a dedicated corpus fund exclusively for the functioning of the institution. The amount will be determined later by the Medical Assessment and Rating Board (MARB) and may be revised from time to time. The provision also refers to already functioning colleges.MARB president Dr MK Ramesh told TOI that earlier regulations had mentioned a corpus fund but no amount had been specified, making it difficult to implement. Instead of deleting the clause, the commission chose to retain it after seeking a commitment from the colleges, the exact amount to be fixed after consideration. Although the term includes existing institutions, the objective is mainly to ensure financial security for new and recently opened colleges. Once the decision is made, the amount of corpus will be uniform.The draft also marks a clear shift towards stricter scrutiny of applications It clarifies that under the NMC Act, a “Scheme” is valid only when an application is complete with all the mandatory documents. In the past, some applicants submitted incomplete proposals and later sought additional time — or court intervention — to submit missing documents. The amendment aims to end the practice by stating that incomplete applications will be rejected at the outset, without recourse.Mandatory documents include a valid certificate of necessity from the concerned state or union territory government, a valid consent from a recognized university and a solvency certificate issued by a chartered accountant within 90 days of the application deadline.The regulator has also empowered to stop or refuse processing for new schemes or increase of seats for particular academic year. In a strong compliance warning, the draft states that any attempt by individuals or organizations to pressure the MARB or the NMC may lead to immediate suspension or rejection of the application.The past decade has witnessed rapid expansion of medical colleges and seats in India. While growth has improved access to medical education, concerns about infrastructure deficits, faculty shortages, and financial sustainability persist. By mandating a corpus fund and leaving room for incomplete proposals, NMC seems to have to back future expansion with financial readiness and full regulatory compliance.The draft amendments have been opened for public consultation for 30 days, after which the Commission will decide on finalizing the amended rules.
