Padho Pardesh Scheme, अब आसान होगा विदेश में पढ़ाई का सपना, जानिए योजना की खासियतें!

Padho Pardesh Scheme, The government launched the Padho Pardesh initiative to provide interest subsidies to qualified, worthy students from economically disadvantaged communities. This initiative offers scholarships to minority students in the community so they can complete their higher education abroad and improve their chances of finding work.

According to the guidelines of the National Commission for Minorities Act of 1992, students from minority populations can get interest subsidies under the central sector’s Padho Pardesh plan. Under the “Scheme of Interest subsidy on Educational Loans for Overseas Studies,” students who take approved Masters, M.Phil., or PhD-level courses overseas are eligible for interest subsidies on the interest that is due during the moratorium period.

What is the Padho Pardesh Scheme?

In order to lower financial barriers for students from minority populations, the Padho Pardesh Scheme was introduced in 2006 as part of the Prime Minister’s 15-Point Programme for the Welfare of Minorities. By reducing the interest on school loans throughout the moratorium period (the length of the course plus one year or six months following employment, whichever comes first), it allows people to access top-notch education and professional prospects.

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Objectives of the Scheme

• Financial Relief: By paying interest during the moratorium period, you can lessen the burden of loan repayment.
• Enable students to pursue further education overseas in a variety of subjects to promote holistic development.
• Economic Upliftment: Promote global exposure and employability to increase socioeconomic mobility.

Key Highlights of Padho Pardesh Scheme 2024

Aspect	Details
Scheme Name	Padho Pardesh Scheme
Launched By	Ministry of Minority Affairs, Government of India
Maximum Loan Amount	₹20 lakh
Eligible Courses	Master’s, M.Phil, and Ph.D. programs abroad
Family Income Limit	Not exceeding ₹6 lakh per annum
Beneficiaries	Students from minority communities (Muslims, Christians, Sikhs, Buddhists, Jains, and Parsis)
Official Website	minorityaffairs.gov.in

Eligibility for Padho Pardesh Scheme

• Students from minority groups, including Parsis, Christians, Muslims, Jains, Buddhists, and Sikhs.
• Students who have gained admission to authorized courses overseas for master’s, master’s, or doctoral degrees.
• Under the “Education Loan Scheme,” students ought to have acquired a loan from an Indian Banks Association (IBA) scheduled bank.
• During the first year of the study, students should apply for the benefits of the Padho Pardesh plan. New applications submitted in the second or later years won’t be considered.

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Courses Eligible for Interest Subsidy

The following are the courses or subjects for which the Padho Pardesh plan offers an interest subsidy grant:

• Social sciences, humanities, or the arts
• Trade
• The pure sciences
• Mechatronics
• Artificial intelligence, robotics, and automation
• Thermal dynamics at low temperatures
• The study of optometry
• Energy storage, decentralized power distribution, energy-efficient housing, and energy conservation are all examples of composite materials engineering.
• Packaging engineering or technology
• Agriculture and agro-technology
• Agronomy
• Medical
• Floriculture and landscaping
• Food sciences and technology
• Forestry and Natural Resources
• Horticulture
• Plant pathology
• Energy studies
• Farm power and machinery
• Veterinary sciences
• Soils and water management
• Plant breeding and genetics
• Ocean and Atmospheric Sciences
• M.B.A
• M.C.A

Padho Pardesh Scheme APadho Pardeshlication Process

Students who qualify can apply for benefits under the Padho Pardesh plan by following these steps:

• Verify which banks are IBA members and provide education loan advantages under the Padho Pardesh scheme.
• Go to the selected bank’s website.
• Complete the application for an educational loan and send it in.
• Send the loan application and the necessary paperwork to the bank.
• The applicant will be contacted by a bank representative.
• The bank will approve the loan amount following document verification.
• The applicant should notify the relevant bank about using the Padho Pardesh scheme after receiving the loan.
• To receive the interest subsidy advantages, submit the paperwork needed for the Padho Pardesh plan in accordance with the bank’s specifications.
• The applicant’s data and loan information will be uploaded by the bank on the Padho Pardesh portal.
• After reviewing the applications submitted for interest subsidy claims, a select committee will suggest that interest subsidies be granted under the program.
• According to the Memorandum of Understanding between the bank and the Ministry of Minority Affairs, the chosen bank will carry out the program.

Interest Subsidy Conditions

• Higher education overseas is accessible through the Padho Pardesh initiative. The interest subsidy will be connected to the IBA’s current educational loan program.
• Eligible students can only receive the interest subsidy once, for either an M.Phil., Masters, or PhD course.
• For female students, 35% of the seats will be set aside. If there are no female students available, the seats may be given to male students.
• Students who dropped out of school in the middle of their studies or who were expelled for academic or disciplinary reasons are not eligible for interest subsidies.
• The funding will end if a student breaks any of the terms of the Padho Pardesh plan.
• If a student renounces their Indian citizenship while the interest subsidy is in effect, they will not be eligible for the interest subsidy under the Padho Pardesh scheme.
• For a moratorium period (the course period plus one year or six months after landing a job, whichever comes first) under the IBA’s education loan program, the government will subsidize the interest that applicants must pay on their loans.
• The applicants will pay interest on the remaining loan balance under the current educational loan program following the moratorium period.
• After the moratorium period, the applicant will be responsible for paying the principal and interest.

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Income Ceiling Under Padho Pardesh Scheme

The hired applicant’s or his or her parents’ total income from all sources should not be more than Rs. 6 lakh per year. In order to substantiate their income, applicants must present income certificates issued by the appropriate state or UT authority.

Faq’s

Q. For whom is the Padho Pardesh Scheme open?

Ans: Applicants must be from recognized minority groups and have a family income of at least ₹6 lakh.

Q. Can I apply to more than one course under this plan?

Ans: No, you can only get the subsidy once for a Master’s, M.Phil., or Ph.D. program.

Q. Does the plan apply to undergraduate courses?

Ans: No, only postgraduate and doctoral studies are eligible for the Padho Pardesh Scheme.

Q. What occurs if I stop taking the course?

Ans: Additional benefits are not available to students who drop out of school or are expelled for disciplinary reasons.

Q. In what way is the interest subsidy determined?

Ans: Interest accrued during the moratorium period is paid by the government. After this time, students are in charge of the principal and any further interest.

@PAY