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Frequently asked Questions (FAQs) related to the Scheme of
Padho Pardesh (For Banks)
1. Whether disbursements made during Financial Year 2013-14 in respect of loans
sanctioned during earlier years will be eligible? Ans. : No, loan sanctioned and disbursed from 2013-14 onwards will only be eligible for
interest subsidy. 2. If student has availed subsidy under any other scheme including the CSIS scheme
for undergraduate courses, whether he/she will be eligible under this scheme? Ans. : Student will be eligible, (as the interest subsidy) under the Scheme for pursuing
Post Graduate Diploma, Post Graduate degree course/Masters, M.Phil & Ph.D. Further, those students, who have completed M.Tech in India but is now pursuing MBA abroad and these students have got subsidy under CSIS/state subsidy scheme
for the M.Tech course, are also be eligible in this Scheme. 3. Is Interest Subsidy guaranteed for all eligible applicants? Ans. : No, interest subsidy is not guaranteed for all eligible applicants. However, it would
be Ministry's endeavor to provide interest subsidy to all eligible applicants to the
extent possible. As per Model Scheme of IBA, the maximum loan for study abroad is Rs.20 lakhs. Whether interest subsidy is admissible for loan amount disbursed above
Rs.20.00 lakh? Ans. : Presently, subsidy is restricted to the limits specified under IBA model scheme Le.
Rs 20.00 lakh only. 5. Whether latest income certificate only should be obtained or the income certificate
obtained during earlier years/at the time of availing loan can be taken? Ans. : Certificate obtained at the time of availing loan, will be sufficient 6. Whether student
is required to submit any certificate/document regarding minority community OR only declaration in the loan application to be taken as a proof. Answer: Yes, Self
declaration in this regard is sufficient. 7. What is the 'Meritorious' element in the Scheme for eligibility for interest
subsidy? Ans. : Those who have secured admission abroad and are eligible as per Scheme
Guidelines will be considered as meritorious under the Scheme. 8. If the course pursued by the minority student is partly in India and partly
abroad, shall be eligible for the interest subsidy? Ans. : Such students will be eligible for interest subsidy, if the Degree is awarded by
Foreign University.
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