Follow us on Google+ / Twitter
Science & Technology Commerce & Business Art & Design
Interest Test Solve your Doubts Cut-off Personalized Counselling
By Way2k Way2k
Way2k 5 Oct 2012
Share
Tags
Bank loans for vocational courses
191 views

In a landmark of sorts, the Indian Banking Association (IBA) has decided to extend the ambit of its Model Educational Loan Scheme to include vocational education and training. This means that all banks, which are associated with IBA, as well as an other banks that RBI may include, will now also offer education loans for students in the vocational sector. "Vocational courses offered by ITIs (Industrial Training Institutes), ITCs (Industrial Training Centres), polytechnics and other technical bodies were not covered in the Model Educational Loan Scheme.

Bank loans for vocational courses

(Some banks do provide loans for three-year diploma courses offered by polytechnics.) However, in view of the initiatives being taken by the government of India in skill development in recent years, a need was felt for providing institutional funding for students undergoing specialized skill development programmes in recognized institutions. The government has estimated that the country would require 10 to 15 million skilled workers every year to support the development process," says the IBA circular on the model loan scheme for vocational education and training. S Ramadorai, Skills Advisor to the Prime Minister, believes that this is an extremely significant move.

The new scheme will be applicable for those studying at institutions run by the government as well as recognized private institutions. People of any age can opt for this loan. For a course whose duration is up to three months, students can take a loan of 20,000. The figure goes up to 50,000 for a course between three and six months and 75,000 for a course between six month and a year. A loan of 1.5 lakh can be awarded for students pursuing a course that is over a year long. Banks can consider loans worth higher amounts for course that are over a year long, or for specific courses offered by reputed institutions.

Courtesy: Times of India

women who cheat on husband infidelity signs reasons why wives cheat on their husbands
what to do when husband cheats i cheated on husband why do people cheat
walgreens photo coupon in store printable walgreens photo book coupon code walgreens coupon code for prints
cialis dosage and cost cialis dosing guidelines
cialis 2015 coupon crmsociety.com lilly coupons for cialis
cialis prodaja blog.devparam.com cialis cijena u bih
Show... Comments
0
Academic Updates
Admission Entrance Result Events
Recent Post
What you missed