MHRD extends the date upto 10th October 2015 for submission of CSIS claims

Ministry of Human Resources Development (MHRD), Government of India has extended the date for submission of claims by banks up to 10th October 2015. The eligible students may contact their Branch Managers to ensure that claims have been submitted or their names have been included...

9:46 AM

Portal opened for claiming unclaimed Education Loan interest subsidy

Nodal Bank Canara Bank has today (7th Sep 2015) opened the portal for claiming, unclaimed Education Loan interest subsidy for the loans disbursed during 2009-10 to 2013-14.  This is an one time opportunity for all Banks to claim the left out interest subsidy claims.  The...

3:16 AM

Clarifications on Education Loan Interest Subsidy Scheme (CSIS)

ELTF has been getting lot of enquirers from different part of country seeking clarifications on 'Interest Subsidy Scheme'.  There are two types of Interest Subsidy scheme for students pursuing education in India.  1. First Scheme:  For Loans granted / disbursed...

10:12 AM

Interest subsidy claims for 2014-15 to be submitted before 25th September 2015

All Bank Branches should submit the interest subsidy claims for 2014-15 before 25th September 2015.  Though it is the duty of all the branch managers to submit the claim to the nodal bank Canara Bank before the due date, in the past, due to various reasons, managers have not...

8:54 AM

Indian Overseas Bank confirms that Govt. of India settled only 44% of the interest subsidy claim for Education Loan in 2013-14

Time and again, Education Loan Task Force (ELTF) has been blaming the Government of India for not settling 100% of the eligible interest subsidy during the moratorium period.  ELTF has taken up this issue through our supporting MPs in the Parliament.Now in response to a letter...

11:33 PM

Independent expert committee to investigate education loan and interest subsidy scheme demanded in Lok Sabha

At the request of ELTF, Shri S R Vijayakumar, MP of Chennai Central took up the Education loan interest subsidy issue during 'Zero hour' in the Lok Sabha on 18th Dec 2014.  He demanded an independent expert committee to be set up to investigate into the administration of education...

7:52 AM

Finance Minister's response on 'Interest subsidy' - ELTF demands constitution of an independent investigation committee

As requested by ELTF, Chennai Central MP Shri S R Vijayakumar took up the issue of poor management of 'interest subsidy scheme' by the banks in the Lok Sabha under Rule No 377 on 30th July 2014.  link.  In response to the submission in Lok Sabha, Hon'ble Finance Minister...

2:28 AM

One more opportunity for SC/ST students to claim interest subsidy before 31st Dec 2014

Indian Banks Association has now issued a circular advising all the banks to submit any left out interest subsidy claims relating to eligible SC/ST students who have availed education loan from the banks.  Since the funds allotted to SC/ST students are not fully utilised, they...

10:10 PM

Chennai-Central MP takes the interest subsidy issue in Lok Sabha

On the request of ELTF, Mr S R Vijayakumar MP (Chennai-Central) took up the issue in Lok Sabha on 30th July 2014 under Rules No 377.  The text of his speech as published by Lok Sabha Secretariat is attached.As you know, ELTF has been taking up this issue for a long time, even...

1:08 AM

Interest subsidy scheme for minority students (Padho Pardesh Scheme) for overseas studies

Government of India, Ministry of Minority Affairs has now introduced a new scheme for providing 'interest subsidy' for minority students for overseas studies.  This scheme comes into force from 2013-14.  The loan for overseas studies for specific courses should have been...

11:22 PM

Guidelines on Interest subsidy for education loans granted prior to 1st April 2009 and outstanding as on 31st Dec 2013

Canara Bank, Nodal bank for interest subsidy has now released the guidelines officially to claim the interest subsidy on the education loans granted prior to 1st April 2009 and outstanding as on 31st Dec 2013.The guidelines can be downloaded from the link.http://canarabank.com/Upload/English/content/NEW%20CSIS.pdforhttp://www.slideshare.net/prpoint/new-csis-for-loans-granted-before-april-2009Updated...

6:55 AM