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subject to a maximum of RsA.25,000. The remammg cost of the project IS met by the SCA and the beneficiary Corporation. Margin Money Loan Scheme :
Margin Money assistance is required by beneficiaries availing bank finance. Generally, Public Sector banks finance 60% of the project cost and seck 40% margin from the beneficiaries. Funds for this purpose are provided to the SCAs at interest rate of I% and the same are further lent to the beneficiaries at interest rate of 3%. Educational Loan Scheme :
NMDFC has introduced the scheme of Educational Loans in January 2004 with the objective to facilitate job-oriented education amongst the weaker section of the Minorities. NMDFC increased the loan amount to a maximum of Rs. 2.50 Lakhs per beneficiary at the rate of maximum of Rs. 50,000 each year.
GUIDELINES FOR THE SCHEME OF SCHOLARSHIP
FOR COLLEGE AND UNIVERSITY STUDENTS
1. BACKGROUND:
National Merit Scholarship Scheme was introduced by Department of Education in 1961-62. It was available to brilliant but poor students from class XI to PostGraduation level. In addition a Scheme of Scholarship at the Secondary stage for talented children from rural areas was also introduced by Department of Education in 1971-72. It was available to talented but poor students from rural areas from class VI to class XII. These two Schemes were merged and a single Scheme, namely, the National Merit Scholarship Scheme' was established by Department of Education for implementation from 2005-06. This was available to meritorious students from class IX to Post Graduation level. However, since funds were not provided by the Planning Commission for the year 2007-08, the Scheme has been discontinued w.e.f. 1.4.2007. School Education has come under a new Department, namely, Department of School Education & Literacy w.e.f. the year 2007-08. The Department of School Education and Literacy has introduced a new Scheme: 'National Means-Cum-Merit Scholarship Scheme'. This Scheme will cover students from class IX to XII. The Department of Higher Education has introduced a new scheme for meritorious students from low income families going to colleges I universities for implementation during the XI Five Year Plan period with an approved outlay of Rs. 1000 crore. This is a Central sector scheme titled "Central Sector Scheme of Scholarship for College
and University Students".. 2. OBJECTIVE:
To provide financial assistance to meritorious students from low income families to
sity Benefits
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