Knowledge Nugget of the day: PM Vidyalaxmi Scheme

3. Students volition beryllium provided a 75% recognition guarantee by the cardinal authorities for loans up to Rs 7.5 lakh. Students, with an yearly household income of up to Rs 8 lakh, who are ineligible for benefits nether immoderate different authorities assistance oregon involvement subvention schemes, volition beryllium provided 3% involvement subvention for loans up to Rs 10 lakh during the moratorium period.

4. The involvement subvention enactment volition beryllium fixed to 1 lakh students each year. Preference volition beryllium fixed to students who are from authorities institutions and person opted for method and nonrecreational courses,” the authorities connection said.

5. PM-Vidyalaxmi aims to grow and deepen the interaction of the Government of India’s acquisition and fiscal inclusion initiatives from the past decade, with a absorption connected broadening entree to prime higher acquisition for India’s youth. This inaugural volition complement the Central Sector Interest Subsidy (CSIS) and the Credit Guarantee Fund Scheme for Education Loans (CGFSEL), some portion of the PM-USP, overseen by the Department of Higher Education.

6. Quality higher acquisition institutions (QHEIs) volition beryllium determined by NIRF rankings. The strategy volition beryllium applicable to each institutions, including authorities and private, successful the apical 100 wide and successful different domain-specific rankings, authorities authorities institutions ranked 101 to 200, and each Centre-run institutions. Initially, 860 qualifying institutions, covering much than 2.2 cardinal students, volition beryllium included successful PM-Vidyalaxmi, providing imaginable entree to benefits for funny students.

7. An authoritative of the Ministry of Education said that with this, students enrolled successful each courses, not conscionable method oregon nonrecreational ones, volition beryllium eligible nether the scheme. Students tin use for a indebtedness and involvement subvention connected a designated portal.

8. The Department of Higher Education volition motorboat a unified portal – PM-Vidyalaxmi, wherever students tin use for acquisition loans and involvement subsidies done a streamlined exertion process accessible to each banks.

BEYOND THE NUGGET: PM Internship Scheme

1. The Prime Minister’s Internship Scheme which aims to supply internships to 1 crore younker successful the apical 500 companies implicit 5 years opened its portal for companies to registry their internship opportunities for the aviator signifier connected October 3.

2. The strategy aims to supply students with internship opportunities to code younker unemployment. Through this scheme, PM envisions to supply internships to 1 crore young radical implicit the adjacent 5 years.

3. As an assistant, candidates volition person Rs 5,000 per period for the afloat 12-month internship. From the company’s CSR funding, each intern volition get Rs 500 from the company, portion the authorities volition lend Rs 4500.

4. Applicants volition person a one-time fiscal enactment of Rs 6,000 to screen incidental expenses successful summation to the monthly stipend. Additionally, via initiatives similar PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana, the authorities volition warrant that interns are insured, with the authorities paying the premiums.

5. Those successful the property radical of 21-24 years are eligible to use for the scheme, which is being implemented by the firm affairs ministry done the portal pminternship.mca.gov.in’.

(Source: Cabinet clears PM-Vidyalaxmi, PM Vidyalaxmi Scheme, PM Internship Scheme)

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