Lok Sabha Question No. 2064 (UNSTARRED), answered on 2016-03-09
Subject: Subsidy on Education Loan
Ministry: MINORITY AFFAIRS
Asked by: RAJESHBHAI NARANBHAI CHUDASAMA, B. SREERAMULU, VISHNU DAYAL RAM

## GOVERNMENT OF INDIA MINISTRY OF MINORITY AFFAIRS LOK SABHA UNSTARRED QUESTION NO.2064 TO BE ANSWERED ON 09.03.2016

## SUBSIDY ON EDUCATION LOAN

## 2064.    SHRI RAJESHBHAI CHUDASAMA: SHRI B. SRIRAMULU: SHRI VISHNU DAYAL RAM:

Will the Minister of MINORITY AFFAIRS be pleased to state:

- (a) whether the Government has launched any schemes to  provide subsidy on educational loan for overseas studies to the students of  minority communities;
- (b) if so, the details thereof including the criteria for selection of beneficiaries and the implementing agencies designated for the purpose;
- (c) the number of applications received under the schemes during the last three years and the current year, State/Union Territory-wise;
- (d) the funds allocated and released for the purpose and the number  of students benefitted during the above period;
- (e) whether the Government proposes to enhance the loan amount and if so, the details thereof; and
- (f) the other steps being taken by the Government for the welfare of   the students from minority communities?

## ANSWER

## MINISTER OF STATE IN THE MINISTRY OF MINORITY AFFAIRS (SHRI MUKHTAR ABBAS NAQVI)

- (a) Yes, Madam. The Ministry of Minority Affairs has operationalized the scheme of 'Padho Pardesh - Interest Subsidy on Educational Loans for Overseas Studies' in 2014-15, under which interest subsidy is provided on educational loans for overseas studies to minority students for approved courses at Masters, M.Phil.and Ph.D. level. The claims for interest subsidy on the educational loans availed from 1 st April, 2013 have been covered under the scheme.
- (b) The eligibility criteria for selection of beneficiaries are as follows:
- (i) The student should have secured admission in the approved courses at Masters, M/.Phil. or Ph.D. level abroad as per guidelines.
- (ii) He/ She should have availed loan from a scheduled bank under the Education Loan Scheme of the Indian Bank's Association (IBA) for the purpose.
- (iii) Total  income  from  all  sources  of  the  employed  or  his/her  parents/guardians  in  case  of unemployed candidate, should not exceed Rs.6.00 lakh per annum.

This is a 100% Central Sector Scheme implemented by the Ministry of Minority Affairs through a Nodal  Bank  i.e.  Canara  Bank.  Student  can  avail  educational  loan  from  the  existing  Educational Loan Scheme of any of the member bank of Indian Banks' Association (IBA) and claim the interest subsidy through their respective bank.

- (c) The State/Union Territory-wise details of claims received for interest subsidy from the banks of various  States/  UTs  since  operationalization  of  the  scheme  including  the  current  year  are  at Annexure .
- (d) The funds allocated, released and the number of students benefitted since operationalization of the scheme are as under:

(Rs. in crore)

| 2014-15         | 2014-15        | 2014-15             | 2015-16 as on 29.02.2016   | 2015-16 as on 29.02.2016   | 2015-16 as on 29.02.2016   |
|-----------------|----------------|---------------------|----------------------------|----------------------------|----------------------------|
| Funds allocated | Funds released | Benefitted students | Funds allocated            | Funds released             | Benefitted students        |
| 4.00            | 3.50           | 573                 | 4.19                       | 4.00                       | 770                        |

- (e) No, Madam.
- (f) Apart from the above, the Ministry also implements Pre-matric Scholarship Scheme (from Class I to X); Post - matric Scholarship Scheme (from Class XI to Ph.D. level); Merit-cum-Means based Scholarship  Scheme  (for  technical  and  professional  courses);  and  Maulana  Azad  National Fellowship for the educational empowerment of minority students across the country. In addition, Maulana Azad Education Foundation, an autonomous body under the Ministry, also implements 'Maulana Azad National Scholarship for Meritorious Girls', an exclusive scheme for scholarship to minority girls studying in class XI and XII.

***********

Statement  referred  to  the  reply  to  parts  (c)  for  Lok  Sabha  Unstarred  Question  No.  2064  to  be answered on 09.03.2016 raised by Shri Rajeshbhai Chudasama, Shri B. Sriramulu, Shri Vishnu Dayal Ram regarding Subsidy on Education Loan.

Statement showing State/Union Territory-wise number of claims received by Canara Bank from banks of various States/UTs since operationalization of the scheme including the current year:

|         |                      | 2012-13                 | 2013-14*                     | 2014-15*                    | 2015-16                      |
|---------|----------------------|-------------------------|------------------------------|-----------------------------|------------------------------|
| Sl No 1 | STATE ANDHRA PRADESH | Scheme was not launched | Number of claims received 35 | Number of claimsreceived 98 | Number of claimsreceived 192 |
| 2       | ASSAM                |                         | 4                            | 7                           | 21                           |
| 3       | BIHAR                |                         | 1                            | 4                           | 12                           |
| 4       | CHANDIGARH           |                         | 1                            | 8                           | 10                           |
| 5       | CHHATTISGARH         |                         | 1                            | 3                           | 6                            |
| 6       | DADRA AND NAGAR      |                         | 0                            | 1                           | 0                            |
| 7       | HAVELI DELHI         |                         | 1                            | 4                           | 26                           |
| 8       | GOA                  |                         | 0                            | 3                           | 17                           |
| 9       | GUJARAT              |                         | 3                            | 22                          | 86                           |
| 10      | HARYANA              |                         | 2                            | 19                          | 30                           |
| 11      | JAMMU                |                         | 8                            |                             | 94                           |
| 12      | &KASHMIR JHARKHAND   |                         | 0                            | 27 1                        | 3                            |
| 13      | KARNATAKA            |                         | 26                           | 88                          | 291                          |
| 14      | KERALA               |                         | 159                          | 459                         | 1254                         |
| 15      | MADHYA PRADESH       |                         | 8                            | 30                          | 130                          |
| 16      | MAHARASHTRA          |                         | 18                           | 58                          | 223                          |
| 17      | MEGHALAYA            |                         | 0                            | 5                           | 15                           |
| 18      | MANIPUR              |                         | 4                            | 1                           | 0                            |
| 19      | MIZORAM              |                         | 3                            | 1                           |                              |
|         | PUDUCHERRY           |                         |                              |                             | 3                            |
| 20      | PUNJAB               |                         | 5                            | 6                           | 12                           |
| 21      |                      |                         | 22                           | 117                         | 188                          |
| 22      | RAJASTHAN            |                         | 3                            | 10                          | 32                           |
| 23      | TAMIL NADU           |                         | 49                           | 89                          | 267                          |
| 24      | TELANGANA            |                         | 1                            | 3                           | 199                          |
| 25      | UTTAR PRADESH        |                         | 7                            | 16                          | 46                           |
| 26      | UTTARAKHAND          |                         | 2                            | 4                           | 16                           |
| 27      | WEST BENGAL          |                         | 1                            | 5                           | 12                           |
|         | Grand Total          |                         | 364                          | 1089                        | 3185                         |