The students will be provided a proper opportunity through which they will be able to continue their education without having to worry about the financial differences that they are going through and this scheme is known as the Central Sector Interest Subsidy Scheme (CSIS) 2024. You can check out the features of this from the article provided below and we will also share with you all the eligibility criteria that you need to follow to be a part of this prestigious scheme. We will also share with you all the detailed procedures to apply online for the scheme.
about Central Sector Interest Subsidy Scheme (CSIS) 2024
The Central Sector Interest Subsidy Scheme is a very prestigious scheme that revolves around the vision that students must pursue higher education and they are not provided with any hurdles to successfully get their higher education even if they belong to the financially weaker section of society. The students will be provided economic benefits so that they can pursue professional and Technical courses that are available in India and they are provided affordable higher education without having to worry about financial differences. The scheme will work to increase the number of qualified technicians and professionals in India so that human resource development is working in full force.
Also Read: MOMA Scholarship
Features Of Scheme
The following features are included in the Central Sector Interest Subsidy Scheme presented by the organization:-
- The applicant must be studying in recognized Technical/ Professional courses in India.
- Under the Scheme, the interest payable on the Educational Loan for the moratorium period i.e., Course Period plus one year will be borne by the Government of India.
- After the period of moratorium, the interest on the outstanding loan amount shall be paid by the student, per the provisions of the existing Model Educational Loan Scheme of Banks and as may be amended from time to time.
- The students must be certified by an ‘Income Certificate’ issued by the Income Certifying Authority designated by the State Government.
- The Ministry of HRD, Government of India has issued an Advisory to all the State Governments requesting them to designate appropriate authorities or authorities who are competent to issue income certificates, based on economic index and not social background for this scheme.
- Banks shall implement the scheme based on the notification of the certification authority by State Governments communicated through District Level Consultative Committees (DLCCs).
- The DLCCs would be given the list and the signatures of the competent authority to issue the income certificate.
Eligibility for Interest Subsidy
The applicant must follow the following eligibility to get an interest subsidy under the prestigious scheme:-
- The subsidy will only be for Rupees 10 lakh irrespective of the sanctioned loan amount.
- The interest subsidy under the scheme shall be available to the eligible students only once either for the first undergraduate degree course or the postgraduate degree/diploma in India. Interest subsidy shall, however, be admissible for integrated courses (graduate plus postgraduate).
- Interest subsidy under this scheme shall not be available for those students who discontinue the course midstream, or who are expelled from the institutions on disciplinary or academic grounds. However, the interest subsidy will be available only if the discontinuation was due to medical grounds for which necessary documentation to the satisfaction of the Head of an educational institution will have to be given.
- The scheme shall be implemented through Canara Bank, which is the Nodal Bank for the Ministry of Human Resources Development.
- The scheme is applicable from the academic year 2009-10 starting 1st April 2009. The scheme is applicable only in respect of disbursements by the Banks on or after 1st April 2009 for the academic year 2009-10, irrespective of the date of sanctioning. In the case of loans sanctioned before 1.4.2009, for the courses beginning before the academic year 2009-10, the interest subsidy is available to the extent of disbursements made after 1.4.2009.
- The disbursement of Interest Subsidy Claims to the Banks shall be on half-yearly or yearly basis which has to be worked out in consultation with the Ministry of HRD.
Approved Institutions/Courses
The students must check out the details related to the approved institution and courses from the links provided below:-
- Centrally funded technical institutions
- Institutions of national importance
- NAAC accredited universities / institutions
- NBA recognise professional courses
Eligibility Criteria
The applicant must follow the following eligibility criteria in order to successfully apply for this scheme:-
- The annual family income for the applicant must be less than Rs 4.5 lakh per annum from all sources.
- The students must be pursuing technical or professional courses in NAAC, NBA, CFTI accredited or regulatory approved institutes in India.
Also Read: National Overseas Scholarship
Central Sector Interest Subsidy Scheme (CSIS) 2024 Registration Process
If you want to register yourself then you will have to follow the simple procedure given below:-
- You will first have visit the CSIS website of the scheme by clicking on the link given here
- The homepage will open on your screen
- Read the details related to the scheme carefully
- Now you have to click on the option called Register
- A new page will open on your screen. We will have to enter your mobile number and the verification code.
- Accept the terms and conditions and click on get OTP to register your mobile number so that you can create an account on the official website.
Check Eligibility
If you want to check the eligibility then you will have to follow the simple procedure given below:-
- You will first have visit the official website of the scheme by clicking on the link given here
- The homepage will open on your screen
- Read the details related to the scheme carefully
- Now you have to click on the option called Check Eligibility
- A new page will open on your screen
- You have to set the location and your gross family income
- Select your social security details and then select the course
- You have to select your length of the course and then select the type of the course
- Enter your course fees and the amount that you want to invest now
- You have to click on the option called Calculate Eligibility to calculate your eligibility.
Login Process
To login at the official website you will have to follow the simple procedure given below:-
- You will first have visit the official website of the scheme by clicking on the link given here
- The homepage will open on your screen
- Read the details related to the scheme carefully
- Now you have to click on the option called Login
- A new page will open on your screen where you can enter your email address
- Enter the captcha code and click on the login button to login successfully.
- If you want to login as another user then you have to click on the other user login and then enter the details related to your credentials to login successfully.
File A Complaint
If you want to file a complaint then you will have to follow the simple procedure given below:-
- You will first have visit the official website of the scheme by clicking on the link given here
- The homepage will open on your screen
- Read the details related to the scheme carefully
- Now you have to click on the option called Grievances
- A new page will open on your screen. We will have to fill out the application form by selecting your query and entering the specifications related to your personal information.
- Make sure to explain your complaint thoroughly.
Contact Details
- For borrowers
- grievance@jansamarth.in
- 79690 76111
- For bankers
- bank.support@jansamarth.in
- 79690 76123
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