Govt launches portal for students seeking education loans
Updated: Aug 20, 2015 03:28:29pm
New Delhi, Aug 20 (KNN) A web-based portal, Vidya Lakshmi (www.vidyalakshmi.co.in), was launched on the occasion of Independence Day for the benefit of students seeking Educational Loans. The portal is first of its kind providing single window for students to access information and make application for educational loans provided by banks as well as for government scholarships.
The Portal has been developed and maintained by NSDL e-Governance Infrastructure Limited (NSDL e-Gov) under the guidance of Department of Financial Services, Ministry of Finance, Department of Higher Education, Ministry of Human Resource Development and Indian Banks’ Association (IBA).
Earlier the Union Finance Minister Arun Jaitley in the Union Budget for 2015-16 inter-alia had proposed to set-up a fully IT based Student Financial Aid Authority to administer and monitor Scholarship as well as Educational Loan Schemes, through the Pradhan Mantri Vidya Lakshmi Karyakram (PMVLK) to ensure that no student misses out on higher education for lack of funds, Ministry of Finance said in a press release.
Vidya Lakshmi Portal is a first of its kind portal providing single window for Students to access information and make application for Educational Loans provided by Banks as also Government Scholarships.
The Portal has the features such as - Information about Educational Loan Schemes of Banks; Common Educational Loan Application Form for Students; Facility to apply to multiple Banks for Educational Loans; Facility for Banks to download Students’ Loan Applications; Facility for Banks to upload loan processing status and more.
So far, 13 Banks have registered 22 Educational Loan Schemes on the Vidya Lakshmi Portal and 5 Banks - SBI, IDBI Bank, Bank of India, Canara Bank & Union Bank of India have integrated their system with the Portal for providing loan processing status to students.
This initiative aims to bring on board all Banks providing Educational Loans. It is expected that students throughout the country will be benefited by this initiative of the Government by making available a single window for access to various Educational Loan Schemes of all Banks, said the Ministry. (KNN Bureau)
The Portal has been developed and maintained by NSDL e-Governance Infrastructure Limited (NSDL e-Gov) under the guidance of Department of Financial Services, Ministry of Finance, Department of Higher Education, Ministry of Human Resource Development and Indian Banks’ Association (IBA).
Earlier the Union Finance Minister Arun Jaitley in the Union Budget for 2015-16 inter-alia had proposed to set-up a fully IT based Student Financial Aid Authority to administer and monitor Scholarship as well as Educational Loan Schemes, through the Pradhan Mantri Vidya Lakshmi Karyakram (PMVLK) to ensure that no student misses out on higher education for lack of funds, Ministry of Finance said in a press release.
Vidya Lakshmi Portal is a first of its kind portal providing single window for Students to access information and make application for Educational Loans provided by Banks as also Government Scholarships.
The Portal has the features such as - Information about Educational Loan Schemes of Banks; Common Educational Loan Application Form for Students; Facility to apply to multiple Banks for Educational Loans; Facility for Banks to download Students’ Loan Applications; Facility for Banks to upload loan processing status and more.
So far, 13 Banks have registered 22 Educational Loan Schemes on the Vidya Lakshmi Portal and 5 Banks - SBI, IDBI Bank, Bank of India, Canara Bank & Union Bank of India have integrated their system with the Portal for providing loan processing status to students.
This initiative aims to bring on board all Banks providing Educational Loans. It is expected that students throughout the country will be benefited by this initiative of the Government by making available a single window for access to various Educational Loan Schemes of all Banks, said the Ministry. (KNN Bureau)
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