Port Blair, Dec. 4: The Ministry of Minority Affairs, GoI is implementing Padho Pardesh- Scheme of interest subsidy on educational loans for overseas studies for the students belonging to Minority Communities. The objective of the scheme is to award interest subsidy to meritorious students belonging to economically weaker sections of notified minority communities so as to provide them better opportunities for higher education abroad and enhance their employability.
The eligibility criteria for availing the scheme is that the student should have secured admission in the approved courses at Masters, M.Phil or Ph.D levels abroad for the courses viz. Arts/Humanities/Social Sciences, Commerce, Pure Sciences, Engineering, Bio-technology/Genetic Engineering, Industrial Environmental Engineering, Nano-technology, Marine Engineering, Petro-chemical Engineering, Plastic Technology, Cryogenic Engineering, Mechatronics, Automation Robotics including Artificial Intelligence, Laser Technology, Low Temperature Thermal Dynamics, Optometry, Art Restoration Technology, Dock and Harbour Engineering, Imaging System Technology, Composite Materials Engineering including Decentralized Power Distribution (for Solar Heat) system, Energy Storage Engineering, Energy Conservation, Energy Efficient Habitat, Packaging Engineering/Technology, Nuclear Engineering, Information Technology including Computer Engineering, Software, Software Quality Assurance, Networking/ Connectivity Engineering, Communication system under Hazardous or Post-disaster conditions, Multi- media Communication, Industrial Safety Engineering, Agriculture & Agro Technology, Agronomy, Medical, Floriculture &Landscaping, Food Sciences &Technology, Forestry & Natural Resources, Horticulture, Plant Pathology, Energy Studies, Farm Power & Machinery, Veterinary Sciences, Soil & Water Management, Plant Breeding &Genetics, Small- scale Rural Technology, Ocean & Atmospheric Sciences, M.B.A, M.C.A, any other Subject.
He/ she should have availed loan from a scheduled bank under the Education Loan Scheme of the Indian Banks Association (IBA) for the purpose. Students should apply for benefits under the scheme during the 1st year itself of the course. Fresh applications received during 2nd year or subsequent years will not be accepted in any case. Preference will be given to those applications which are covered under lower rate of interest by various banks of each State/UT to their quota. Payment of financial benefit may be linked with Aadhar Number if available.
For availing the scheme, the total income from all sources of the employed candidate or his/ her parents/guardians in case of unemployed candidate shall not exceed Rs. 6.00 lakh per annum. Income certificate issued by the competent authority in the State/ Union Territory should be submitted in support of income shown by a candidate.
The detailed guidelines of the scheme are available on the website www.minorityaffairs.gov.in.