Nearly 400 IIT aspirants opt out under exit policy

Even as the online counselling for IITs is underway, nearly 400 students have surrendered their seats after the second round of allotment under the 'exit policy' introduced this year.

Even as the online counselling for IITs is underway, nearly 400 students have surrendered their seats after the second round of allotment under the 'exit policy' introduced this year.

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"We have so far got around 380 applications. I am hopeful that the number will touch 400," organising chairman JEE 2012 Dr GB Reddy said.In an attempt to plug seat vacancies, the IITs have introduced the policy under which the student is permitted to surrender his seat within a stipulated time (after second round of seat allotment).

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Those who surrender their seats will get a refund of their registration fees. In case of general candidates, the amount refunded is Rs. 40,000 and in the case of SC/ST category the amount is Rs. 20,000.

Another advantage of the exit policy is that those who surrender their seats also get a second chance of sitting in the IIT JEE exam.

After the second round of seat allotment this year, there were around 630 seats still vacant including the surrendered seats.

As many as 435 seats were offered in the second round of allotment, of which 199 students did not accept. Among the physically disabled seats, there are still 50 seats vacant.

The third round and final allotment of seats will be held on July 6 after which the exact number of vacant seats will be known.

This year has been eventful for the premier institutes. First there was quota controversy.

Then came the much-debated change in the JEE format. It ended with introduction of the new percentile-based formula.