Financial statements for student visa given by co-operative banks of India will not be accepted by UK. The step taken by UK government will smash the dreams of many Indian students who wish to study in the country. UK government has displayed a list containing the names of 85 Indian banks whose statements wil be accepted by UK for the purpose of student visas.
Applicants of student visas under the Tier 4 Category need to submit a proof showing enough funds for managing study fees and living in UK. The selection is purely based on points system.
The Indian banks whose statements have been banned by UK are operated in different states of the world. Those banks are categorized as:
- Cooperative banks - scheduled urban cooperative banks
- Cooperative banks - non-scheduled urban cooperative banks
The government authorities said that visa department will accept the statements for student visa from international or national banks with a UK private banking presence, or regulated national/state banks that provide a core banking service. The drawing up of approved and non-approved list of Indian financial institutions for student visa
purposes means that applicants who have accounts in banks mentioned in the non-approved list will have to open accounts in 85 banks mentioned in the approved list before applying for the student visas.
A Home Office statement said: "The list forms part of the reforms to the student immigration route. 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."
Verification checks are made on the basis of documents provided with the student visa application but there have reportedly been many cases when such checks have not been "satisfactory", particularly from cooperative or smaller banks. An unsatisfactory verification check means that the institution does not respond to or provide a reliable response to our request for information, or we are unable to contact the institution.