Padho Pardesh Yojana 2023: Keeping in mind the students who want to pursue higher education abroad, the Central Government has started Padho Pardesh Yojana,
There are many students who are unable to pursue higher education due to lack of money. There are many such students who want to study abroad, but their economic condition becomes a hindrance in their way.
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Keeping such students in mind, the Central Government has started – Padho Pardesh Yojana, Under this scholarship program, financial assistance will be provided to the students for higher education.
Padho Pardesh Yojana 2023 : Brief Introduction
|article name||Padho Pardesh Yojana 2023|
|type of article||scholarship program|
|Scholarship Program Name||Padho Pardesh Yojana|
|Department Name||Ministry of Minority Affairs, Government of India|
|when this scholarship started||2013-14|
|Scholarship Purpose||To provide financial assistance to students who wish to study abroad for higher education|
|who are the beneficiaries||All minority and economically weaker students of the nation|
|beneficiary area||Provide loan for higher education and provide subsidy on loan|
Padho Pardesh Yojana 2023: About This Program
This scholarship program was started in 2013-14. It was started by the immediate cabinet minister Mr. Mukhtar Abbas Naqvi.
The scheme is being operated by the Ministry of Minority Affairs, Government of India. Under this scheme, loans are provided to poor and backward class students for the purpose of pursuing higher education.
Under the scheme, loans will be provided without interest to all those students who are willing to go abroad for higher education.
Loans will be given to poor and middle class students through Padho Pardesh Yojana. Along with this, financial assistance will also be provided to them.
Padho Pardesh Yojana 2023 : Goal of the Program
The main objectives of the Padho Pardesh Yojana Scholarship Program are as follows –
- Providing financial assistance to poor and middle class students for higher studies.
- Under the scheme, loans up to Rs 2 lakh will be provided to the students.
- Through loans, students will be able to make their future bright by getting higher education.
- Students will be able to study abroad.
- Loan will be given to the students without any interest.
- Along with this, subsidy will also be given on the loan.
Recognized bank eligible to provide loan under the scheme: Padho Pardesh Yojana
Following are the names of recognized societies eligible to provide loans under this scheme –
- Cooperative bank
- Indian Banks Association (IBA)
- public sector bank
- Private Bank etc., which are associated with the Indian Bank Association (IBA).
Rules for getting loan: Padho Pardesh Yojana
To get a loan under Padho Pardesh Yojana, you have to follow some Rules & Regulations. These Rules & Regulations are given below –
- Students desirous of pursuing higher education abroad can apply for loans up to Rs.2 lakh only.
- There will be an exemption to repay the loan within a time period of 1 year and 6 months after the completion of the course.
- No interest or installment will be payable before taking the degree.
- It is necessary to repay the loan by the students after the given time period.
Required Eligibility For Loan: Padho Pardesh Yojana
To get a loan under Padho Pardesh Yojana 2023, it is necessary to fulfill some Eligibility Criteria. These Eligibility Criteria are as follows –
- The applicant must be a citizen of India.
- Only the poor and needy students of the minority class will be given the benefit of this scholarship program.
- Subsidy will be made available to students only on loans of Rs 2 lakh.
- Loan will be given only for pursuing higher education from recognized institutions.
- It is mandatory for the institution to be recognized.
- To get the benefit of the scheme, the student must be enrolled in courses like Higher Studies, such as Phil, Phd, MBA, PG Diploma.
- Under the scheme, students of any religion and caste can get its benefits.
- The annual income of the student’s family should be Rs 6 lakh or less.
- Under the scheme, loan facility will be available only through the banks nominated by the government.
Padho Pardesh Yojana 2023: Important Documents
You will need some documents to apply under this scheme. These documents are as follows –
- Adhar Card
- loan application form
- income certificate
- minority certificate
- Admission and course related papers
- bank account details
- passport size photo
Padho Pardesh Yojana 2023: How to apply
To apply under Padho Pardesh Yojana 2023, you have to follow the steps mentioned below –
- To apply under the scheme, go to the recognized bank under the scheme by taking the College Enrollment Form of the college in which you want to take admission abroad.
- Get the Application Form from the Bank.
- Fill all the information asked in the application form carefully.
- After this, attach all the documents sought with the Application Form.
- After this submit the application form to the bank itself.
- After this your Application Form will be sent to the Ministry of Welfare. Here your eligibility will be checked.
- If you are eligible then you will be provided loan.
Padho Pardesh Scheme 2023: Features and Benefits
The major benefits and features of Padho Pardesh Yojana 2023 are as follows –
- Under this Scholarship Program, loans are made available to the students without any Interest Rates.
- 100% subsidy facility will be given on the loan.
- If half of the student’s education has been done in the country and half has been done abroad, then in such a situation no interest will be charged on the loan amount.
- Students will be able to make their future bright by getting higher education.
- Loan up to Rs 2 lakh will be provided for higher studies.
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