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π‘ Model Skill Loan Scheme β Revamped for Future-Ready Workforce
π
Launched: 25 July 2024
π Ministry: Skill Development & Entrepreneurship + Education
β
Higher Loan Limit β Increased from βΉ1.5 lakh β‘οΈ βΉ7.5 lakh to cover high-end skill courses
β
Wider Lending Network β Now includes:
β’ Public & private banks
β’ Foreign banks (IBA members)
β’ NBFCs, NBFC-MFIs, Small Finance Banks
β
Expanded Course Coverage β Not just NSQF-aligned, but also other courses onboarded on Skill India Digital Hub
β
Govt Guarantee β Loans backed by a government-promoted fund to reduce lending risk
β
Beneficiaries β ~25,000 students annually
β
Future-Readiness β Supports skill training in line with emerging tech & job market .
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