New list of acceptable financial institutions in India
?xml:namespace>
The UK Border Agency has published a new list of banks in India whose financial statements will no longer be accepted for student visa purposes. It is said that this is set to affect thousands of students from India wishing to study in the UK. The new list has exonerated 1,900 banks and lists only 85 banks that operate in India and whose financial statements will be accepted for student visa purposes.
When applying for a student visa under the points-based Tier 4 category, an applicant is required to demonstrate evidence of possessing the necessary funds to purse a course of study and maintain themselves in the UK for the duration of their studies. In light of the new list related to acceptable banks, as of 24th November 2011 financial statements of only those banks listed will be accepted. Where an applicant provides a bank statement from one of the 1, 900 Indian banks that have been banned, their application will not be considered and is likely to be refused.
Banks whose financial statements will no longer be accepted are on a list categorised as 'Cooperative banks scheduled urban cooperative banks' and 'Cooperative banks non-scheduled urban cooperative banks'. The 85 banks operating in India whose statements will be accepted are on a separate list which includes 'Scheduled commercial banks'.
The UK Border Agency states that the purpose of the change is “to ensure that we can verify that student visa applicants hold the required maintenance funds to support themselves and pay for their course in the UK."
?xml:namespace>
Verification checks will be made on any documents provided in order to ensure that they are genuine and not fake.
?xml:namespace>
The list is subject to concurrent reviews as additions and amendments may be made in the future. Similar lists of financial institutions have been published for other countries including Pakistan and the Philippines.
Should you require any further information on applying or extended your student visa, please do not hesitate to contact us either by telephone (020 7569 3035) or email (info@ergensharif.co.uk).
October 2011