Padho Pardesh Scheme 2024: Rs 20 Lakh Loan to Study Abroad, Check Full Details: With the help of the Indian Banks’ Association (IBA), the Government of India, and the Ministry of Minority Affairs, the Padho Pardesh Yojana was introduced to assist students from underrepresented groups who wish to pursue higher education overseas by providing a loan subsidy.
To ensure that financial limitations do not prevent students from pursuing their dream of studying abroad, this project aims to lessen the financial load on them. To qualify for this kind of, candidates must prove that they are in financial need and have a family income of no more than Rs. 6 lakh annually, as verified by an income certificate from the relevant state government.
Padho Pardesh Scheme 2024
Padho Pardesh scheme is one of the prerequisites that need to be fulfilled in demonstrating that one belongs to a minority group. A self-declaration or certificate confirming that the person belongs to a minority group as specified by the National Commission for Minorities Act, 1992, section 2(C), attests to its validity.
Students who meet these conditions are eligible for significant financial aid, which will decrease the financial burden on them as they begin their study abroad experience. The government’s dedication to advancing educational equity and guaranteeing that students from all backgrounds can pursue their academic goals on a global scale is demonstrated by this program.
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Outline of Padho Pardesh Scheme 2024
| Name of Scheme | Padho Pardesh Scheme for Minorities |
| Supervision Under | Ministry of Minority Affairs, Govt of India |
| Loan Benefit Amount | Up to 20 Lakh |
| Beneficiary | Minority Community Individuals |
| Official Site | www.minorityaffairs.gov.in |
Government’s Padho Pardesh Yojana Purposes
The Government of India started the Padhao Pardesh scheme with many goals which are as follows.
- The Padho Pardesh Scheme was launched by the Indian Central Government to assist international students in pursuing their dreams of higher education.
- Under this program, minority students pursuing master’s, doctoral, or M.Phil. degrees overseas can apply for interest subsidies.
- Its main objective is to provide financial assistance to gifted students from low-income families in designated minority communities so they can take advantage of excellent international higher education possibilities and improve their chances of finding employment.
The Padho Pardesh Program’s Benefits
You can get information about what benefits the Government of India has provided you through the Padhao Pardesh Scheme from the points given below.
- Financial Assistance: The Padho Pardesh program lowers the cost of international education for minority students by offering an interest subsidy on student loans. The Ministry of Minority Affairs selects about 400 students a year to receive this interest subsidy for studying overseas. For their education overseas, each candidate is eligible for an interest subsidy of up to Rs 20 lakh. The candidates for loans up to Rs 20 lakh can benefit from this interest reduction.
- Increasing Educational Opportunities: The goal of this international education program is to enable minority students from a range of backgrounds to fulfil their dream of studying abroad without being limited by their financial situation.
- Improved professional Prospects: Students who pursue higher education abroad have access to a wider range of professional options. The Padho Pardesh initiative helps students from minority backgrounds achieve their professional goals.
- Development of Personal and Professional Capabilities: Studying abroad provides students with a wealth of chances to develop their personal and professional capacities. The goal of the Padho Pardesh program is to support students from minority groups in developing their knowledge and skills in a global context.
Eligibility of Padho Pardesh Scheme
At this point of the article, you can know about the eligibility criteria of the Padho Pardesh Scheme which are as follows.
- The student must be accepted into a Master’s, M.Phil., or doctoral program that is authorized in the foreign country.
- The students had to have been accepted into an accredited foreign university or institution.
- The annual household income of the student cannot be more than ₹ 6,00,000.
- The Indian Banks Association (IBA) Education Loan Scheme is only available to students who have already taken out an education loan from a scheduled bank.
- During their first year of study, students who wish to profit from the system must apply. We won’t accept applications submitted in the second year or later.
- Applications from states and union territories with lower bank interest rates will be given priority.
- Financial benefits payments could be correlated with the student’s Aadhaar number.
Padho Pradesh’s Documents Requirements
Those who wish to apply for the Padho Pradesh Program should make sure they have the required documentation, which consists of:
- Completed course admission card for the Padho Pradesh program application
- Documentation of annual income, passport, and loan application for education
- PAN card, bank passbook, and Aadhaar card
- proportions of a passport photo
- Phone number
- Among other things, email address and signature.
Online Application Process for Pdhao Pardesh Yojana
You can follow the listed instructions to apply for the Padho Pardesh Scheme.
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- Open the official website @www.minorityaffairs.gov.in.
- Now, click on the “Apply Now” option.
- Next, fill in the required details in the opened application form such as ISD Code, Mobile number, and Email ID.
- At the end, submit the details.
