BY : Kampuzz Team

Date : 22-08-2015

Total Views : 383

Gov. launches portal for students seeking education loans

Modi’s government has been making every stones unturned to digitalize India, and in that attempt, has launched a portal for students who seek academic loans and financial backups and 5 top-ranking banks have synced in with the process, which includes SBI, IDBI Bank, Bank of India, Canara Bank and Union Bank of India as well.

"Vidya Lakshmi ( ) was launched on the occasion of Independence Day i.e. 15th August, 2015 for the benefit of students seeking educational loans," a Finance Ministry release said.

This portal has been constructed and supervised under NSDL e-Governance Infrastructure Limited (NSDL e-Gov) with assistance gained from Department of Financial Services in the Finance Ministry, Department of Higher Education, Ministry of Human ance of Department of Financial S Resource Development and Indian Banks' Association (IBA).

Finance Minister Arun Jaitley proposed the thought in his speech for the budget, stating that an online-based authority will be established in order to provide financial assistance to the students who want to study further. Pradhan Mantri Vidya Lakshmi Karyakram (PMVLK) is the name of the respected identity.

"Vidya Lakshmi Portal is the first of its kind portal providing single window for students to access information and make applications for educational loans provided by banks as also government scholarships," it added.

The portal comprises of various information about educational loan schemes of different banks; common educational loan application form to be obtained students; applying for multiple banks for educational loans; and downloading students' loan applications.

"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 release further.