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Padho Pardesh Scheme

The Padho Pardesh scheme was launched by the Government of India to provide an interest subsidy for merit students from the minority communities. The scheme allows students to complete their higher education abroad.
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The Central Government launched the scheme with the main aim of providing an interest subsidy to meritorious students who are from the economically weaker sections. Scholarships are provided so that students from the minority communities have better opportunities to complete their higher education abroad and improve their job opportunities.

Eligibility Criteria

The eligibility criteria that must be met for students to avail the benefits of the scheme are mentioned below:

  • The student must have secured admission abroad in one of the approved courses at the Ph.D., MPhil, or Master’s levels.
  • The student must have availed the education loan from a bank that provides the education loan scheme under the Indian Banks Association (IBA).
  • In case the student wishes to avail the benefits of the scheme, he/she must do so in the first year of the course. Students cannot avail the benefits in the second year or any other subsequent years.
  • Preference will be provided to applications that come under a lower rate of interest.
  • If available, payment of the financial benefit should be linked to the Aadhaar number.

Find education loan eligibility criteria here.

Rate of Interest Subsidy

  • Under the scheme, the Indian Government will pay the interest during the moratorium period. The moratorium period is usually the duration of the course and six months or one year after getting a job.
  • Post the moratorium period, the student must pay the interest that is pending on the outstanding loan amount.
  • The interest after the moratorium period and the principal amount must be paid by the student.

Conditions for Interest Subsidy

The conditions that must be met to avail the interest subsidy benefits are mentioned below:

  • Students can avail the benefits of the scheme only for higher studies outside India.
  • The Government of India will only pay the interest subsidy for students who are eligible for Ph.D., MPhil, and Master’s courses.
  • Students will not be eligible for the scheme if they discontinue the course mid-term.
  • The interest subsidy will not be paid by the government if any conditions have been violated.
  • The subsidy will be withdrawn in case the student is found to have provided false information.
  • Interest subsidy will not be provided if the student gives up Indian citizenship.
  • The bank that provides the education loan will keep a separate account in regard to any funds that they have received from the Ministry. A report will be provided to the Ministry every quarter.
  • Only once the utilisation certificate has been received, will more funds be provided.
  • The bank that provides the loan will ensure that students do not avail interest subsidy from any other scheme for the same purpose.
  • A detailed procedure regarding how the interest subsidy is processed and sanctioned will be provided by the designated bank to the students.
  • The Ministry will evaluate the scheme on a regular basis.
  • Ministry of Minority Affairs can change the terms and conditions of the scheme at any time.

Disciplines Covered under the Scheme

The list of courses that are covered under the scheme are mentioned below:

  • Master of Computer Application (MCA)
  • Master of Business Administration (MBA)
  • Ocean & Atmospheric Sciences
  • Small-Scale Rural Technology
  • Plant Breeding & Genetics
  • Soils & Water Management
  • Veterinary Sciences
  • Farm Power & Machinery
  • Energy Studies
  • Plant Pathology
  • Horticulture
  • Forestry & Natural Resources
  • Food Sciences & Technology
  • Floriculture & Landscaping
  • Medical
  • Agronomy
  • Agriculture & Agro Technology
  • Industrial Safety Engineering
  • Information Technology
  • Nuclear Technology
  • Packaging Engineering
  • Composite Materials Engineering
  • Imaging System Technology
  • Dock and Harbour Engineering
  • Optometry
  • Low-Temperature Thermal Dynamics
  • Laser Technology
  • Automation Robotics
  • Mechatronics
  • Cryogenic Engineering
  • Plastic Technology
  • Petro-Chemical Engineering
  • Marine Engineering
  • Nano Technology
  • Industrial Environmental Engineering
  • Bio-Technology Engineering
  • Engineering
  • Pure Sciences
  • Commerce
  • Social Sciences/ Humanities/ Arts

Students can find more details such as the evaluation, scope, and implementing agencies of the scheme on http://www.minorityaffairs.gov.in/sites/default/files/PadhoPardesh-Eng_0.pdf.

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