Home Department of Great Britain today published a list of nearly 1900 Indian Banks, whose financial statements will not be accepted for issuing student visas. The list of banned banks consists mostly cooperative banks in India. This move is certainly going to affect thousands of students aspiring to pursue their studies in the United Kingdom.

The new list issued by the home department has just 85 banks operating in India whose statements will be accepted for purposes of student visas. As part of the application for student visas Tier 4 under the points-based system, applicants have to show evidence of possessing the necessary funds to pursue a course of study and live in the UK for the duration of the course. From November 24, if any applicant provides bank statements from the listed nearly 1,900 Indian banks showing they have the necessary funds, the application will not be considered.

The list includes banks operating in many states in India. The list of banks whose statements will not be accepted are categorised as 'Cooperative banks scheduled urban cooperative banks' and 'Cooperative banks non-scheduled urban cooperative banks'. Official sources said the visa officers will accept statements from student visa applicants from "international banks, or national banks with a UK private banking presence, or regulated national/state banks that provide a core banking service", says an official release.

The Home Office also published a list of 85 banks operating in India whose statements will be accepted for purposes of student visas. This list of banks includes 'Scheduled commercial banks'. 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 the 85 banks mentioned in the approved list before applying for the student visas.