TMI BlogVidyalakshmi Portal for Education LoanX X X X Extracts X X X X X X X X Extracts X X X X ..... Vidyalakshmi Portal for Education Loan - News and Press Release Dated:- 3-8-2018 - News - Vidya Lakshmi Portal 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... disposed off, in the normal course, within a period of 15 to 30 days. As per National Securities Depository Limited (NSDL), Year-wise number of applications made through Vidya Lakshmi Portal are as under: Year Number of applications 2015-16 992 2016-17 11854 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2017-18 63242 From 01.04.2018 to 29.07.2018 68302 As on 29.07.2018, details of status of applications since launch of the Portal, is as under: Total Applications Received 144390 Applications Sanctioned 42733 Applications Rejected/Clo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sed 26392 Source: NSDL As reported by Public Sector Banks (PSBs), the average time taken to process loan applications ranges from 15 to 30 days on receipt of completed application form. As reported by NSDL, 22119 applications are pending as on 29.07.2018 for more than 6 months. Major reasons for pendency of application include application being non-complia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt under IBA Education loan scheme and/or students not submitting desired information, lack of proper response from students to the queries raised by banks. Depending on the reason for pendency of applications, banks take necessary action for its effective disposal. The students are contacted by the banks for early submission of required documents. This was stated by Shri Shiv Pratap Shukla, Mi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nister of State for Finance in a written reply to a question in Lok Sabha today. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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