Sarkari Yojana
Mukhya Mantri Gyandeep Yojna
About Mukhya Mantri Gyandeep Yojna
The Higher Education Department, Government of Himachal Pradesh launched the “Mukhya Mantri Gyandeep Yojna” for students of the State who take educational loans from any Bank to study professional/technical courses and higher education courses at recognized Institutions in India. It covers educational loans disbursed from the academic year 2016-17, beginning 1st April 2016, no matter when the loan was sanctioned. > Objective:
Himachali Students who borrow from Banks to pursue Higher Education in India and Abroad are supported financially through an interest subsidy on their Educational Loans.
Scheme Overview
State Government
Directorate Of Higher Education, Government Of Himachal Pradesh
Individual
01 Apr 2016
Scheme Details
Eligibility Requirements
To qualify for Mukhya Mantri Gyandeep Yojna, applicants must satisfy the following conditions:
Only Bonafide Himachali students can apply
Only Bonafide Himachali students can apply.
Students of the State taking educational loans from…
Students of the State taking educational loans from any Bank for professional/technical courses and higher education courses at recognized Institutions in India may apply.
Eligible students get the interest subsidy only when…
Eligible students get the interest subsidy only when they are not drawing any other education loan interest subsidy under another scheme of the State Government/Government of India.
Benefits Provided
Mukhya Mantri Gyandeep Yojna provides the following benefits to eligible applicants:
Education loans from any bank qualify for the…
Education loans from any bank qualify for the interest subsidy up to a maximum loan of ₹10 lakhs.
The subsidy covers interest of up to 4%…
The subsidy covers interest of up to 4% per annum on the education loan. Note: The subsidy applies to interest charged on eligible education loan accounts during the repayment/ holiday/ moratorium period, meaning the course period plus a moratorium period of up to one year.
Documents Required
Applicants should keep the following documents ready before starting the application:
Photographs of passport size
Photographs of passport size
A copy of the Aadhaar Card
A copy of the Aadhaar Card
A copy of the PAN Card
A copy of the PAN Card
A copy of the Himachali Bonafide Certificate (Domicile…
A copy of the Himachali Bonafide Certificate (Domicile of Himachal Pradesh)
Details of the bank account
Details of the bank account
Proof that the student is pursuing the course/higher…
Proof that the student is pursuing the course/higher education
Proof of address
Proof of address
Other documents, where needed
Other documents, where needed
2016-04-01
How to Apply
Offline Application
Applicants can apply for Mukhya Mantri Gyandeep Yojna through the offline application process outlined below.
Application Process:
Students wishing to benefit can apply directly at…
Students wishing to benefit can apply directly at their nearest bank.
Get the application form from the bank and…
Get the application form from the bank and complete it fully.
Enclose all relevant documents with the form
Enclose all relevant documents with the form.
Hand the completed form in at the bank
Hand the completed form in at the bank. Post-Application Process:
For the interest subsidy scheme of the Department…
For the interest subsidy scheme of the Department of Higher Education, Government of Himachal Pradesh, UCO bank acts as the Nodal Bank.
A Branch in Shimla (State Capital) is designated…
A Branch in Shimla (State Capital) is designated by the Nodal Bank to receive interest subsidy claims from the member Banks.
Member banks lodge interest subsidy claims every half…
Member banks lodge interest subsidy claims every half year, in October & April, to claim subsidy amounts from the Department of Higher Education, Government of Himachal Pradesh.
The member Bank branch making a claim provides,…
The member Bank branch making a claim provides, in writing as per Annexure-I., details of the student borrowers sanctioned/disbursed education loans on or after 01.04.2016 and of loans outstanding as of 30.09.2016/31.03.2017, regarding the availability of interest subsidy.
The claiming Member Bank Branch takes a declaration…
The claiming Member Bank Branch takes a declaration from the student borrower in the format given in Annexure II.
Within 10 days after each half year ends,…
Within 10 days after each half year ends, member bank branches send the interest subsidy claim to their controlling Office in the state in the prescribed format (Annexure-III).
Each member bank's controlling office scrutinises its branches'…
Each member bank's controlling office scrutinises its branches' claim statements and, within 15 days after the half-year ends, forwards them with the consolidated position and Annexure-III to the designated branch of the Nodal bank.
Once the prescribed branch of the Nodal bank…
Once the prescribed branch of the Nodal bank receives the Member Banks' claims, it sends the claim statements to the Department of Education within the following fifteen days.
The Department of Higher Education H.P
The Department of Higher Education H.P. examines the member banks' claims received via the designated Nodal Bank branch and settles them by placing the required funds in the designated account held at that branch.
Within 5 days of getting the claim amount…
Within 5 days of getting the claim amount from the Department of Education, H.P., the designated Nodal Bank branch sends the approved interest subsidy by RTGS/NEFT to the member banks' branches concerned, for crediting to the Education of eligible students.
Objectives
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Official Application & Website
Verify the latest eligibility, dates and instructions before applying.