The Supreme Court has spoken:
Other Backward Classes (OBC) students will qualify for admissions if they have 10 % less marks than the eligibility level fixed for the general category students, the Supreme Court has ruled. The apex court Thursday clarified that 10 % relaxation being given to OBC students did not mean it will be 10 % less than the last student admitted under general category.
Since the IITs were following the second policy (which now stands quashed), the fraction of OBC students among this year's JEE-qualified students was just about 20% -- as opposed to the 27 % they were eligible for.
Thanks to today's SC verdict, OBC students will start getting the full benefit of the reservation policy from next year (this year's admissions will not be affected).
All in all, a welcome clarification from the Supreme Court.
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Update (19 August 2011): J. Venkatesan's report in The Hindu has all the crucial details. In particular, the SC order prohibits re-allocation of OBC seats to the General Category as long as there are OBC students who meet the (relaxed) eligibility criteria.