Mains Paper 2: Governance | Issues relating to development and management of Social Sector/Services relating to Health, Education, Human Resources.
From UPSC perspective, the following things are important:
Prelims level: Particulars of the Initiative
Mains level: Effective step of speedy credit facilitation for students
- Vidya Lakshmi Portal provides a single window for students to access information and make application for Educational Loans provided by Banks.
- This portal has been developed under the guidance of Department of Financial Services (Ministry of Finance), Department of Higher Education (Ministry of Human Resource Development) and Indian Banks Association (IBA).
- Students can view, apply and track the education loan applications to banks anytime, anywhere by accessing the portal
- It was launched by the Government on August 15, 2015 to ensure that students can avail loans easily through single window system of banks for education loans.
- Banks follow Indian Banks’ Association (IBA) guidelines in this regard which stipulates that education loan applications have to be disposed off, in the normal course, within a period of 15 to 30 days.