{"id":32126,"date":"2025-04-16T14:37:33","date_gmt":"2025-04-16T09:07:33","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=32126"},"modified":"2025-05-27T17:50:30","modified_gmt":"2025-05-27T12:20:30","slug":"pm-vidyalaxmi-scheme","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/pm-vidyalaxmi-scheme\/","title":{"rendered":"PM-Vidyalaxmi Scheme"},"content":{"rendered":"<h2>PM Vidyalaxmi Scheme Latest News<\/h2>\n<p>Amid a slow uptake of the PM Vidyalaxmi scheme, public sector banks (PSBs) recently raised several concerns regarding its implementation.<\/p>\n<h2>About PM Vidyalaxmi Scheme<\/h2>\n<ul>\n<li>It is a <strong>Central Sector Scheme<\/strong> to provide <strong>financial support to meritorious students<\/strong> in their pursuit of <strong>higher education.<\/strong><\/li>\n<li><strong>Eligibility<\/strong>:\u00a0\n<ul>\n<li>The scheme targets <strong>students <\/strong>who have <strong>secured admission to <\/strong>any of India\u2019s <strong>top 860 Quality Higher Education Institutions (QHEIs), both private and governm<\/strong>ent, as <strong>ranked by the National Institutional Ranking Framewo<\/strong>rk (NIRF).<\/li>\n<li><strong>Students who receive any other <\/strong>Central\/State Government <strong>Scholarship<\/strong>, interest subvention plan, or fee reimbursement are <strong>not eligible<\/strong> for benefits under the PM Vidyalakshmi scheme.\u00a0<\/li>\n<li><strong>Students who stop their studies<\/strong> in between <strong>or are dismissed<\/strong> from the institution <strong>on disciplinary or academic grounds are not eligible<\/strong> for interest subvention or credit guarantee under this scheme.<\/li>\n<li>Students can <strong>apply for the loans through the PM-Vidyalakshmi portal<\/strong>, which integrates with multiple banks for a seamless and digital application experience.<\/li>\n<\/ul>\n<\/li>\n<li><strong>How much loan can you avail under the PM Vidyalakshmi scheme?<\/strong>\n<ul>\n<li>There is <strong>no upper limit<\/strong> on the amount of education loan you can get under the PM Vidyalakshmi scheme.\u00a0<\/li>\n<li>It will <strong>depend on course fees and other fees charged by the QHEI <\/strong>and other associated expenses like mess, hostel fees, other refundable and non-refundable fees of the institution, the cost of a reasonable-quality laptop, and a reasonable amount of living expenses required by the student during the course period.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Interest subvention:<\/strong>\n<ul>\n<li><strong>A student<\/strong> whose annual<strong> family income is up to Rs 8 lakhs <\/strong>and who is pursuing any course from QHEIs will be <strong>eligible to get 3% interest subvention<\/strong> for <strong>education loans up to Rs 10 lakhs.\u00a0<\/strong><\/li>\n<li>If the education <strong>loan amount is more than Rs 10 lakhs, interest subvention<\/strong> will be <strong>provided<\/strong> for the disbursed total principal amount of loan <strong>up to Rs 10 lakhs.<\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong>Credit Guarantee: When the education loan sanction amount is up to Rs 7.5 lakhs, irrespective of family income, the student will be eligible for a credit guarantee where 75% of outstanding default will be covered by the government.<\/strong><\/li>\n<\/ul>\n<p><strong>Source<\/strong>: <a href=\"https:\/\/www.business-standard.com\/finance\/news\/psbs-red-flag-technical-glitches-in-implementing-pm-vidyalaxmi-scheme-125041400801_1.html\" target=\"_blank\" rel=\"nofollow noopener\">BS<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PM Vidyalaxmi Scheme is a Central Sector Scheme to provide financial support to meritorious students in their pursuit of higher education.<\/p>\n","protected":false},"author":11,"featured_media":32129,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[148,21,23],"class_list":{"0":"post-32126","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"tag-pm-vidyalaxmi-scheme","9":"tag-prelims-pointers","10":"tag-upsc-prelims-current-affairs","11":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/32126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=32126"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/32126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/32129"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=32126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=32126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=32126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}