The Government of India launched a web portal named Vidya Lakshmi (www.vidyalakshmi.co.in) to help students seeking Educational Loans.
Vidya Lakshmi is the first of its kind portal. It provides single window facility for students to access information and make application for educational loans provided by banks as well as for government scholarships.
The Portal was developed by NSDL e-Governance Infrastructure Limited (NSDL e-Gov) under the guidance of Department of Financial Services under Union Ministry of Finance, Department of Higher Education under Union Ministry of Human Resource Development and Indian Banks’ Association (IBA).
So far, 13 Banks have registered 22 Educational Loan Schemes on the Vidya Lakshmi Portal and 5 Banks including SBI, IDBI Bank, Bank of India, Canara Bank and Union Bank of India have integrated their system with the Portal for providing loan processing status to students.