Latest news with #PMVidyalaxmi
Hans India
04-08-2025
- Business
- Hans India
Is merit losing ground in TG higher education landscape?
Hyderabad: Despite improvements in access to higher education across Telangana, there are concerns over whether merit-driven students are receiving adequate financial support under current education policies. A closer look at the eligibility data for the PM Vidyalaxmi Scheme, which provides collateral-free and guarantor-free educational loans, reveals that only a handful of state-run Higher Education Institutions (HEIs) meet the criteria set by the National Institutional Ranking Framework (NIRF) that is used as a yardstick for the scheme. According to NIRF 2024–25 rankings, only 12 HEIs from Telangana are listed nationally, of which just four state-run institutions are included in the list of Quality Higher Education Institutions (QHEIs) - the key prerequisite for PM Vidyalaxmi loan eligibility. This raises equity concerns, as students from technology, law, medical, and conventional streams in Telangana continue to bear the burden of self-funded education or seek loans that require collateral and guarantors. The PM Vidyalaxmi Scheme, launched by the central government, targets students admitted on merit-based criteria to institutions ranked within the top 100 (overall and category-specific), top 200 state-governed HEIs, and central government institutions. With a corpus designed to benefit over 22 lakh students annually, the scheme aligns with broader efforts to democratize access to professional education, especially in technical fields. However, the limited representation of state-run institutions in Telangana's NIRF rankings hints at structural gaps in competitiveness and academic quality. While institutions like AIIMS Bibinagar, NALSAR University of Law, and NIPER Hyderabad provide accessible avenues for top-performing students, the state's own educational bodies fall short of qualifying benchmarks. The situation also raises broader policy questions: Has the state prioritised quantity over quality in its higher education expansion? Are talented students missing out due to institutions' inability to rise in national merit-based rankings? While Telangana reports a higher Gross Enrollment Ratio (GER) than the national average, the state-run HEIs are struggling to figure out the national merit-based rankings, resulting in their students being on the receiving end. Speaking to The Hans India, a former Vice Chancellor of a Telangana State University, pointed out, 'A strategic overhaul - focusing on infrastructure, faculty development, and innovation - is essential if Telangana intends to elevate the performance and perception of its public institutions.' With schemes like PM Vidyalaxmi offering financial flexibility, state intervention is vital to ensure deserving students in Telangana aren't left behind, merely due to where they study, he pointed out. However, when contacted, Telangana Council of Higher Education (TGCHE) Chairman Prof V Balakista Reddy said: 'the council has taken up the issue of improving the NIRF rankings of Higher Educational Institutions (HEIs) on a priority basis. The council held two to three meetings with the Vice-Chancellors of the universities. The TGCHE had also organised a meeting with the degree and postgraduate colleges to create awareness about improving the quality of education for NIRF rankings.' Besides, the State government has been keen to ensure that state-run HEIs in particular and all educational institutions in the state in general step up quality assurance practices to get the NIRF rankings. 'The State government asked to focus on the improvement of NIRF rankings, as most of the schemes and funding are increasingly getting linked to the NIRF rankings. It has also assured to release funding for the same to ensure more state-run HEIs qualify for the NIRF rankings,' he added.
NDTV
18-06-2025
- Business
- NDTV
NMC Directs Medical Colleges To Promote This Scheme For Easy Education Loans
The National Medical Commission (NMC) has issued a public notice advising 50 leading medical colleges and institutions across India to actively promote the PM Vidyalaxmi Scheme, a government initiative designed to facilitate collateral-free, guarantor-free education loans for meritorious students pursuing medical education. In its latest circular, the NMC noted that all Scheduled Commercial Banks have been advised by the Reserve Bank of India to adopt the Model Education Loan Scheme (MELS) formulated by the Indian Banks' Association (IBA). To further streamline access, the PM Vidyalaxmi scheme was officially launched on November 6, 2024, providing a simplified, transparent, and digital loan application process for students enrolled in Quality Higher Educational Institutions (QHEIs). The commission has shared a list of 50 premier medical institutions, including AIIMS branches, state-run colleges, and private universities, urging their deans and principals to include information about the PM Vidyalaxmi scheme in their admission brochures and prospectuses. This move aims to raise awareness among eligible students about available financial assistance and ensure wider adoption of the scheme. Students can apply for loans through the official PM Vidyalaxmi portal, Institutions on the list include AIIMS Delhi, AIIMS Patna, JIPMER Puducherry, PGIMER Chandigarh, Madras Medical College, CMC Vellore, King George's Medical University, and others across 24 states and union territories.
Economic Times
03-06-2025
- Business
- Economic Times
PM Vidyalaxmi Scheme: PNB cuts education loan rates by 20 bps; check new interest rates, other details
ET Online PNB education loan under PM Vidya Lakshmi scheme Punjab National Bank (PNB), the second-largest state-owned lender in the country, has announced a reduction of 20 basis points (bps) in its interest rates for education loans offered under the PM Vidyalaxmi scheme, making higher education more accessible for aspiring students. This government-backed initiative aims to provide financial assistance to students enrolled in undergraduate or postgraduate degree/diploma PM Vidyalaxmi scheme is designed to provide comprehensive financial support to students for quality-driven higher education. This initiative is available to students who secure admission on merit to the 860 identified Quality Higher Education Institutions (QHEIs) across India. New FD rates from June 1, 2025: PNB, Canara Bank revise interest rates across tenuresThe scheme is open to Indian nationals, including Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs), who are pursuing graduation or postgraduation degree/diploma courses in Qualified Higher Education Institutions (QHEIs).What is the margin requirement for availing a loan under PM Vidyalaxmi? Financing will be need-based, depending on the specific requirements of the student. Margin requirements for students enrolled in AAA & AA-rated institutes: No margin is other institutes, no margin is required for loans up to Rs 4 lakh; a 5% margin is applicable for amounts above Rs 4 lakh. Interest rates are institute-specific and start at 7.50% per annum Note that collateral is not required under the scheme. However, parents or guardians must be joint borrowers on the loan. Punjab National Bank has categorised Quality Higher Education Institutions (QHEIs) into three groups based on their ratings: Group I, classified as AAA, includes 85 institutions; Group II, labelled as AA, comprises 152 institutions; and Group III, categorised as A, consists of 623 institutions. Students pursuing higher education can avail themselves of interest subvention benefits based on their family's annual income and the type of students enrolled in technical or professional courses, those with an annual family income of up to Rs 4.5 lakh are eligible for 100% interest subvention. If the annual income is between Rs 4.5 lakh and Rs 8 lakh, they can avail a 3% interest subvention under the PM Vidyalaxmi scheme. For students enrolled in other courses, a uniform 3% interest subvention is available under the PM Vidyalaxmi scheme, regardless of whether their family income falls below Rs 4.5 lakh or between Rs 4.5 lakh and Rs 8 lakh. Income Details Technical / Professional courses Other courses Annual income Up to 4.5 lakhs 100% interest subvention(PM-USP CSIS) 3% interest subvention(PM-Vidyalaxmi) Annual income 4.5 lakhs – 8.00lakhs 3% interest subvention(PM-Vidyalaxmi) 3% interest subvention(PM-Vidyalaxmi) Documents required for PM Vidyalaxmi According to the PNB website, below are the documents required: KYC Details (Student)—Aadhaar, PAN ID, and Address Proof. Previous Qualifying self-attested copy of Mark Sheets. Entrance Exam Result. Offer letter from the Institution along with Fee Structure. Passport-size photographs. Previous or existing loans, if any, from Banks/Lenders, banks may obtain suitable documentary evidence. Proof of family Income from designated public authority of the state.
Time of India
03-06-2025
- Business
- Time of India
PM Vidyalaxmi Scheme: PNB cuts education loan rates by 20 bps; check new interest rates, other details
Punjab National Bank ( PNB ), the second-largest state-owned lender in the country, has announced a reduction of 20 basis points (bps) in its interest rates for education loans offered under the PM Vidyalaxmi scheme , making higher education more accessible for aspiring students. This government-backed initiative aims to provide financial assistance to students enrolled in undergraduate or postgraduate degree/diploma courses. What is PM Vidyalaxmi scheme? The PM Vidyalaxmi scheme is designed to provide comprehensive financial support to students for quality-driven higher education. This initiative is available to students who secure admission on merit to the 860 identified Quality Higher Education Institutions (QHEIs) across India. Still confused between New vs Old Tax Regime? Find out which one saves you more with our tax calculator! New FD rates from June 1, 2025: PNB, Canara Bank revise interest rates across tenures What is the eligibility of the scheme? The scheme is open to Indian nationals, including Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs), who are pursuing graduation or postgraduation degree/diploma courses in Qualified Higher Education Institutions (QHEIs). What is the margin requirement for availing a loan under PM Vidyalaxmi? Live Events Financing will be need-based, depending on the specific requirements of the student. Margin requirements for students enrolled in AAA & AA-rated institutes: No margin is required. For other institutes, no margin is required for loans up to Rs 4 lakh; a 5% margin is applicable for amounts above Rs 4 lakh. What is the revised interest rate? Interest rates are institute-specific and start at 7.50% per annum Note that collateral is not required under the scheme. However, parents or guardians must be joint borrowers on the loan. Punjab National Bank has categorised Quality Higher Education Institutions (QHEIs) into three groups based on their ratings: Group I, classified as AAA, includes 85 institutions; Group II, labelled as AA, comprises 152 institutions; and Group III, categorised as A, consists of 623 institutions. What is the subsidy amount for the PM Vidyalaxmi scheme? Students pursuing higher education can avail themselves of interest subvention benefits based on their family's annual income and the type of course. For students enrolled in technical or professional courses, those with an annual family income of up to Rs 4.5 lakh are eligible for 100% interest subvention. If the annual income is between Rs 4.5 lakh and Rs 8 lakh, they can avail a 3% interest subvention under the PM Vidyalaxmi scheme. For students enrolled in other courses, a uniform 3% interest subvention is available under the PM Vidyalaxmi scheme, regardless of whether their family income falls below Rs 4.5 lakh or between Rs 4.5 lakh and Rs 8 lakh. Income Details Technical / Professional courses Other courses Annual income Up to 4.5 lakhs 100% interest subvention (PM-USP CSIS) 3% interest subvention (PM-Vidyalaxmi) Annual income 4.5 lakhs – 8.00 lakhs 3% interest subvention (PM-Vidyalaxmi) 3% interest subvention (PM-Vidyalaxmi) Documents required for PM Vidyalaxmi According to the PNB website, below are the documents required: KYC Details (Student)—Aadhaar, PAN ID, and Address Proof. Previous Qualifying self-attested copy of Mark Sheets. Entrance Exam Result. Offer letter from the Institution along with Fee Structure. Passport-size photographs. Previous or existing loans, if any, from Banks/Lenders, banks may obtain suitable documentary evidence. Proof of family Income from designated public authority of the state.
