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The Centre on Thursday told the Supreme Court that the decision to give grace marks to 1,563 candidates of NEET-UG 2024 by the National Testing Agency (NTA) has been cancelled.These 1,563 students will also be given an option to apply for a re-test.The top court was hearing petitions concerning the dispute over the NEET-UG, 2024 exam for entrance into MBBS, BDS, and similar programs.One of the petitions was filed by Alakh Pandey, the chief executive of EdTech firm 'Physics Wallah', who has challenged the alleged random awarding of grace marks by the National Testing Agency (NTA) to more than 1,500 candidates who appeared for the NEET-UG, 2024.Alakh Pandey, the CEO of the EdTech company 'Physics Wallah' also filed a petition contesting the purported arbitrary allocation of grace marks by NTA to over 1,500 NEET-UG, 2024 candidates.Several petitions have been submitted to high courts and the Supreme Court, raising various allegations, including paper leaks, grace marks, and a significant increase in high scorers.However, Union Education Minister Dharmendra Pradhan has said that no evidence of paper leak in NEET-UG has been found.What is the NEET-UG 2024 controversy?The NEET (UG) 2024 examination was conducted by the NTA on May 5 across 4,750 centers, with approximately 24 lakh candidates participating. Although the results were initially expected to be announced on June 14, they were released on June 4, possibly due to the early completion of the answer sheet evaluation.The plea stated that the NTA's decision to award grace marks was a reaction and not a proactive measure taken at the time of declaring the results.The petition argued that the NTA's decision to grant grace marks was a reaction rather than a proactive measure implemented at the time of announcing the results."So much so this clarification came about only when queries were raised as to how 718/719 marks out of total 720 marks can be awarded when the same was not technically possible as per the marking scheme," the plea said. The plea has called for a comprehensive investigation into the conduct of the examination by an independent high-powered committee.The plea questioned the basis for adopting the policy of awarding grace marks, as it was not a practice followed by the NTA in previous years. It demanded that the NTA provide details of the 1,563 candidates who received compensatory marks, including their original marks, the grace marks granted, and their revised marks.June 10 saw many students in Delhi rallying in protest, calling for an inquiry into the reported irregularities. Allegations suggest that the awarding of grace marks resulted in 67 students jointly attaining the highest rank.On Wednesday, the NTA released a document with frequently asked questions (FAQs) regarding the exam, reiterating that there was no question of paper leaks. NTA officials stated that 63 cases of students using unfair means were reported in NEET-UG, out of which 23 have been debarred for varying periods. However, they emphasized that the sanctity of the medical entrance exam has not been compromised.Last week, the Education Ministry formed a four-member panel to review the grace marks awarded to 1,563 students to compensate for the loss of time due to delays in starting the examination at certain centers.According to NTA officials, the adjustments were made to address inconsistencies in NCERT textbooks, which resulted in 44 candidates receiving full marks and many others seeing an increase in their scores, contributing to the high number of perfect scores. Despite the exam results becoming a political issue, NTA sources maintain that the majority of the claims are an attempt to create a false narrative surrounding the exam.

Investing at the age of 65 requires a thoughtful approach to ensure financial stability and consistent returns.Swapan Giri, ET Mutual Funds reader, a senior citizen looking to invest Rs 20 lakh, sought expert advice on the best investment strategy for his situation.ET Mutual Funds spoke to Aditya Agarwala, Co-founder, Head of Research and Investment at Invest4Edu, who offered a comprehensive plan tailored for low-risk tolerance and steady income.Retirement planning is crucial for individuals. It ensures a stable and sufficient income post-retirement, allowing you to maintain your lifestyle and meet essential expenses without relying on others.Agarwala's recommendation emphasized the advantages of SIP (Systematic Investment Plan) for rupee cost averaging, along with the strategic use of SWP (Systematic Withdrawal Plan), and highlighted top-performing hybrid funds that are ideal for senior citizens.Query by Swapan Giri: My age is 65 years. I want to invest Rs 20 lakh. Could you tell me how to invest it properly? Should I do a lump sum or SIP/STP for the next 5 years?Aditya Agarwala of Invest4Edu: Considering that Swapan Giri is now a senior citizen, I advocate a low-risk profile with exposure to debt funds, dividend funds, short duration funds, flexi cap funds and hybrid funds to ensure consistent and stable returns.Furthermore, given that the equity markets have already witnessed significant gains over a year and half it is prudent to opt for a SIP for the next 5 years as it will give rupee cost averaging. As far as investing a lump-sum of Rs 20 lakh is concerned, I would recommend allocating it to funds which allow placing SWP orders.The Systematic Withdrawal Plan (SWP) is a mutual fund withdrawal technique in which you receive a fixed payout in each withdrawal cycle.For a monthly payout through SWP, you deposit a lump sum amount in a mutual fund and receive the benefit as fund returns.Few of the top performing Hybrid Funds which allow SWP are -1) ICICI Prudential Debt & Equity Fund2) HDFC Hybrid Equity Fund3) SBI Equity Hybrid Fund4) Quant Absolute Fund(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in alongwith your age, risk profile, and twitter handle.