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Skill Loan Scheme

Given a huge thrust on skill development in recent years, a need is felt to provide institutional credit to individuals for taking skill development courses aligned to National Occupations Standards and Qualification Packs and leading to a certificate/diploma/degree by the training institutes as per National Skill Qualification Framework (NSQF). Thus, Skill Loan Scheme has been developed to support the national initiatives for skill development.

Objective:

Skill Loan Scheme (herein after called ‘Skilling Loan’) aims at providing a loan facility to individuals who intend to take up skill development courses as per the Skill Loan Eligibility Criteria.

Eligibility Criteria:

Training Institutes: Any individual who has secured admission in course run by Industrial Training Institutes (ITIs), Polytechnics or in a school recognized by central or state education boards or in college affiliated to recognized university, training partners affiliated to National Skill Development Corporation (NSDC)/Sector Skill Councils, State Skill Mission, State Skill Corporation, preferably leading to a certificate/diploma/degree issued by such organization as per NSQF is eligible for a Skilling Loan.

Training Courses: Courses run by above mentioned institutes aligned to NSQF shall be covered by Skill Loan. There is no minimum qualification.

Quantum of Finance: Loans will be in the range of Rs. 5,000/- to Rs. 150,000/-.

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