Lok Sabha Question No. 158 (STARRED), answered on 2016-11-25
Subject: Vidya Lakshmi Portal
Ministry: FINANCE
Asked by: SUNIL KUMAR SINGH

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF FINANCIAL SERVICES LOK SABHA

## STARRED QUESTION NO. *158

## TO BE ANSWERED ON THE 25 th NOVEMBER, 2016, AGRAHAYANA4, 1938 (SAKA) VIDYA LAKSHMI PORTAL

## *158. SHRI SUNIL KUMAR SINGH:

Will the Minister of Finance be pleased to state:

- (a) whether the Government has launched an education loan portal-Vidya Lakshmi and if so, the details thereof;
- (b) the names of banks implementing the scheme along with their rates of interest and terms and conditions, names of courses and educational institutions tied up, number of students who applied and availed the loans since launching the portal, bank, State/UT-wise; and
- (c) whether the schemes of State Governments are likely to be dovetailed in the said portal and if so, the details thereof?

## ANSWER (FINANCE MINISTER) (SHRI ARUN JAITLEY)

(a) to (c): A Statement is laid on the Table of the House.

Statement referred to in reply to parts (a) to (c) of Lok Sabha Starred Question No. *158 for answer on 25 th NOVEMBER, 2016tabled by SHRI SUNIL KUMAR SINGHregarding 'VIDYA LAKSHMI PORTAL'

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_

- (a) Vidya Lakshmi Portal (VLP) (www.vidyalakshmi.co.in) was launched on August 15, 2015.The portal has been developed and is being maintained by NSDL eGovernance Infrastructure Limited. Students can view, apply and track the education loan applications made to banks anytime, anywhere by accessing the portal.
- (b) Name of the Banks linked up to VLP along with their rates of interest is given in the Annex-I. As regards the terms and conditions of the loans such as, eligibility criteria, eligible courses (Domestic and Abroad), quantum of finance, margin, etc., the banks follow the Indian Banks' Association (IBA) Model Education Loan Scheme guidelines. Bank-wise and State/UT-wise number of students who applied and availed education loans since launching of the VLP are given in Annex-II and Annex-III respectively.
- (c) Presently Vidya Lakshmi Portal hosts education loan schemes of various banks only.
- ******

## Annex-I to reply of Lok Sabha Starred Question No. 158 for answer on 25 th November, 2016

## Banks linked up with Vidya Lakshmi Portal

|   Sr.No. | Bank Name                        | Rate of Interest (%)   |
|----------|----------------------------------|------------------------|
|        1 | Abhyudaya Co-operative Bank Ltd. | 12.50 to 14.00         |
|        2 | Allahabad Bank                   | 11.95 to 12.95         |
|        3 | Andhra Bank                      | 11 to 12.75            |
|        4 | AXIS Bank                        | MCLR + 5.50 to 8       |
|        5 | Bank of Baroda                   | 9.90 to 12.40          |
|        6 | Bank of India                    | 11.45 to 12.95         |
|        7 | Bank of Maharashtra              | BR+0.75 to 2.50        |
|        8 | BharatiyaMahila Bank             | 10.95 to 12.45         |
|        9 | Canara Bank                      | 10.00 to 11.50         |
|       10 | Central Bank of India            | 11.10 to 13.65         |
|       11 | Corporation Bank                 | 11.10 to 12.60         |
|       12 | Dena Bank                        | 11.55                  |
|       13 | DombivliNagariSahakari Bank Ltd. | 10 to 12               |
|       14 | GP Parsik Bank Ltd               | 11-13.50               |
|       15 | HDFC Bank                        | 10.25 to 15            |
|       16 | ICICI Bank                       | 13.10 to 14.60         |
|       17 | IDBI Bank                        | 10 to 13               |
|       18 | Indian Bank                      | 9.95 to 12.25          |
|       19 | Indian Overseas Bank             | BR+ 1.50 to 3.25       |
|       20 | Kotak Mahindra Bank              | BR + 7.25 to 8.25      |
|       21 | Oriental Bank of Commerce        | BR + 1.25 to 3         |
|       22 | Punjab& Sind Bank                | 12-13.25               |
|       23 | Punjab National Bank             | MCLR +0.10 to 2.60     |
|       24 | RBL Bank Limited                 | BR + 4 to 6            |
|       25 | State Bank of Bikaner &Jaipur    | 12.45 to 12.95         |
|       26 | State Bank of Hyderabad          | 11.95 to 12.95         |
|       27 | State Bank of India              | 11.10 to 13.60         |
|       28 | State Bank of Mysore             | 10.90 to 12.40         |
|       29 | State Bank of Patiala            | 11.20 to 12.70         |
|       30 | State Bank of Travancore         | BR + 1.35 to 3.85      |
|       31 | Syndicate Bank                   | 11 to 12.75            |
|       32 | UCO Bank                         | 11.95 to 12.20         |
|       33 | Union Bank of India              | 11.50 to 12.25         |
|       34 | United Bank of India             | 9.90 to 13.50          |
|       35 | Vijaya Bank                      | 9.65 to 12.20          |

BR: Base Rate

## MCLR: Marginal Cost of Lending Rate

## Annex-II to reply of Lok Sabha Starred Question No. 158 for answer on 25 th November, 2016

## Bank wise Applications of Education Loan Received through VLP & cases ofDisbursement

| Sr. No.   | Bank Name                      |   Total no. of Applications Received |   No. of cases of Disbursements |
|-----------|--------------------------------|--------------------------------------|---------------------------------|
| 1         | State Bank of India            |                                 3607 |                              10 |
| 2         | Canara Bank                    |                                 1466 |                             107 |
| 3         | Indian Bank                    |                                 1401 |                             135 |
| 4         | Punjab National Bank           |                                  949 |                              15 |
| 5         | Bank of Baroda                 |                                  893 |                              12 |
| 6         | Bank of India                  |                                  886 |                              18 |
| 7         | State Bank of Travancore       |                                  813 |                               5 |
| 8         | Allahabad Bank                 |                                  642 |                              32 |
| 9         | Axis Bank                      |                                  558 |                               0 |
| 10        | Syndicate Bank                 |                                  529 |                              38 |
| 11        | HDFC Bank                      |                                  516 |                              22 |
| 12        | Union Bank of India            |                                  496 |                              12 |
| 13        | Andhra Bank                    |                                  483 |                              13 |
| 14        | Indian Overseas Bank           |                                  422 |                              18 |
| 15        | IDBI Bank                      |                                  400 |                               8 |
| 16        | Central Bank of India          |                                  391 |                               5 |
| 17        | ICICI Bank                     |                                  389 |                               1 |
| 18        | State Bank of Bikaner & Jaipur |                                  387 |                             109 |
| 19        | Vijaya Bank                    |                                  324 |                               6 |
| 20        | United Bank of India           |                                  282 |                               0 |
| 21        | Bank of Maharashtra            |                                  280 |                               0 |
| 22        | UCO Bank                       |                                  275 |                               3 |
| 23        | Dena Bank                      |                                  267 |                               9 |
| 24        | Corporation Bank               |                                  253 |                               5 |
| 25        | State Bank of Hyderabad        |                                  235 |                               0 |
| 26        | Oriental Bank of Commerce      |                                  191 |                               5 |
| 27        | State Bank of Mysore           |                                  111 |                               0 |
| 28        | State Bank of Patiala          |                                   48 |                               0 |
| 29        | Punjab & Sind Bank             |                                   36 |                               4 |
| 30        | BharatiyaMahila Bank           |                                   35 |                               1 |
| 31        | Abhyudaya Co-operative Bank    |                                   21 |                               0 |
| 32        | Kotak Mahindra Bank            |                                   12 |                               0 |
| 33        | RBL Bank                       |                                    6 |                               0 |
| 34        | DombivliNagariSahakari Bank    |                                    3 |                               0 |
| 35        | GP PARSIK BANK                 |                                    1 |                               0 |
|           | Grand Total                    |                                17608 |                             593 |

## Annex-III to reply of Lok Sabha Starred Question No. 158 for answer on 25 th November, 2016

## State wise Applications of Education Loan Received through VLP & cases of Disbursement

| Sr. No.   | State Name                 |   Total no. of Applications Received |   No. of cases of Disbursements |
|-----------|----------------------------|--------------------------------------|---------------------------------|
| 1         | Tamil Nadu                 |                                 2761 |                             168 |
| 2         | Kerala                     |                                 2638 |                              63 |
| 3         | Andhra Pradesh             |                                 1709 |                              33 |
| 4         | Maharashtra                |                                 1624 |                              35 |
| 5         | Karnataka                  |                                 1502 |                              56 |
| 6         | Uttar Pradesh              |                                 1227 |                              28 |
| 7         | Bihar                      |                                  934 |                              20 |
| 8         | West Bengal                |                                  891 |                              25 |
| 9         | Rajasthan                  |                                  883 |                              87 |
| 10        | Delhi                      |                                  698 |                              16 |
| 11        | Gujarat                    |                                  564 |                               8 |
| 12        | Madhya Pradesh             |                                  474 |                               8 |
| 13        | Odisha                     |                                  418 |                              14 |
| 14        | Jharkhand                  |                                  290 |                               8 |
| 15        | Haryana                    |                                  239 |                               2 |
| 16        | Assam                      |                                  165 |                               0 |
| 17        | Punjab                     |                                  146 |                               5 |
| 18        | Chandigarh                 |                                   85 |                               4 |
| 19        | Uttarakhand                |                                   74 |                               1 |
| 20        | Telangana                  |                                   60 |                               1 |
| 21        | Puducherry                 |                                   43 |                               3 |
| 22        | Tripura                    |                                   43 |                               2 |
| 23        | Himachal Pradesh           |                                   29 |                               4 |
| 24        | Manipur                    |                                   27 |                               0 |
| 25        | Goa                        |                                   17 |                               0 |
| 26        | Jammu And Kashmir          |                                   14 |                               0 |
| 27        | Chhattisgarh               |                                   13 |                               0 |
| 28        | Sikkim                     |                                   11 |                               2 |
| 29        | Nagaland                   |                                    9 |                               0 |
| 30        | Meghalaya                  |                                    8 |                               0 |
| 31        | Andaman And Nicobar Island |                                    4 |                               0 |
| 32        | Dadra And Nagar Haveli     |                                    4 |                               0 |
| 33        | Daman And Diu              |                                    3 |                               0 |
| 34        | Arunachal Pradesh          |                                    1 |                               0 |
| Grand     | Total                      |                                17608 |                             593 |