How Board’s Fund shall be drawn against

No payment shall be made by a Bank out of the Board’s Fund except upon a cheque or letter of credit signed by an Officer serving under the Board duly authorised by the Board in this behalf. The Secondary School Certificate shall be awarded in four grades as shown below: Distinction- To successful candidates who obtain not less than 75% marks in the aggregate, calculated on the basis of the six compulsory subjects offered for the examination. Grade-I: To successful candidates who obtain not less than 60% of marks in the aggregate, calculated on the basis of the six compulsory subjects offered for the examination. Grade-II: To successful candidates who obtain not less than 45%; but less than 60% of marks in the aggregate, calculated on the basis of the six compulsory subjects offered for the examination. Grade- Pass: To all other successful candidates: Provided that the First (with Distinction) or First or Second Grade shall not be awarded to a candidate who appears for the examination with any exemption or exemptions earned by him under Regulation 34.