Educational loan seems to be the biggest hurdle of the economic India to pursue higher studies abroad. While many ways are being digged out to tackle this situation, the Indian Government on Thursday has launched the website, "VIDYALAKSHMI," first of its kind portal for students of Indian nationality, seeking educational loans to study in India as well as abroad.
Finance minister Arun Jaitley has proposed to set up a student financial aid authority to administer scholarships and loan schemes through Pradhan Mantri Vidya Lakshmi Karyakram. The portal was developed under the guidance of Ministry of Finance, Ministry of Human Resource Development and Indian Banks' Association (IBA).
Finance minister Arun Jaitley has proposed to set up a student financial aid authority to administer scholarships and loan schemes through Pradhan Mantri Vidya Lakshmi Karyakram. The portal was developed under the guidance of Ministry of Finance, Ministry of Human Resource Development and Indian Banks' Association (IBA).
Students can apply and track their loan applications to any bank at any time by accessing the portal. 13 banks including State Bank of India, IDBI Bank, and Bank of India have integrated their system with the portal.
Banks registered:
- Bank of India
- Canara Bank
- Central Bank of India
- Corporation Bank
- Dena Bank
- IDBI Bank
- Kotak Mahindra Bank
- Oriental Bank of Commerce
- Punjab National Bank
- Punjab and Sind Bank
- State Bank of India
- Union Bank of India
- Vijaya Bank
CLICK HERE, to REGISTER to the portal.
Loan schemes:
Currently there are 22 loan schemes registered with this master scheme and many more are on their way.
Steps to be followed:
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