In the year 2013-14, the Padho Pardesh Yojana Scheme was launched by the then Cabinet Minister Shri Mukhtar Abbas Naqvi. Under this scheme, the government will provide interest-free loans to all those students who want to pursue higher education abroad. But they do not have money to go abroad to pursue higher education. All those minority and economically weaker section students of the country will be provided financial assistance by the central government. Apart from this, subsidy on loan will also be given by the government to all the students. Padho Pardesh Yojana is being operated through the Ministry of Minor Affairs. Through this scheme, the dream of poor students coming under minority category of getting higher education abroad will become true. This scheme is for people of every religion and caste.
Padho Pardesh Yojana Features
Padho Pardesh scheme was launched by Ministry of Minor Affairs of Government of India.
Padho Pardesh Yojana has been started for students who are dreaming of pursuing higher education abroad.
Through this scheme, loans will be provided to all eligible students of the country to pursue higher education abroad.
Through this scheme, economically weaker students will be able to get loan for getting higher education in abroad by applying under the Padho Pardesh Scheme.
All eligible students will also be provided a grant by the government on the loan given under the Padho Pardesh Scheme. And the special thing about this scheme is that interest-free loan will be provided to eligible students and with this loan, students will be able to get their education abroad.
The loan to be taken under the Padho Pardes Yojana will not be required to be repaid until the student completes his education.
The students will be given sufficient time to repay the loan.
Objectives of Padho Pardesh Scheme
The main objective of the central government’s Padho Pardesh Scheme is to provide financial assistance to the students of minority and economically weaker sections to pursue higher education abroad. Under this scheme, students will be provided loans by the government to pursue higher education abroad and subsidy will also be given on the loan. Under this scheme, loans up to Rs 20 lakh will be provided to the students by the government. So that they will be able to make their future bright by getting higher education abroad.
Recognized Bank to get loan under Padho Pardesh Yojana
Indian Banks Association (IBA)
Co-operative Bank
Private Bank
Public Sector Banks etc. which are associated with the Indian Banks Association.
Documents required for Padho Pardesh Yojana
Aadhaar Card
Minority certificate
Income Certificate
Admission and course related papers
Loan Application Form
Bank Account Details
Padho Pardesh Yojana Loan Rules
Eligible students who want to get their higher education abroad can take a loan of up to Rs 20 lakh only under this Padho Pardesh scheme.
Eligible beneficiary students are not required to repay the loan in 1 year and 6 months after the completion of the course. But after this period, it will be mandatory for the students to repay the loan taken to the bank.