Q. What is the main objective of the PM Vidyalakshmi Scheme?
Answer: Provide financial support to meritorious students for higher education
Notes: Public sector banks (PSBs) have raised concerns about the slow uptake of the PM Vidyalaxmi scheme. These concerns relate to the implementation of the scheme. The PM Vidyalakshmi scheme, a Central Sector Scheme, provides financial support to meritorious students for higher education. It targets students admitted to India's top 860 Quality Higher Education Institutions (QHEIs), ranked by the National Institutional Ranking Framework (NIRF). Students receiving other government scholarships or fee reimbursements are not eligible for this scheme. Students who discontinue studies or are dismissed for academic or disciplinary reasons are also ineligible for the scheme's benefits. Loans can be applied for through the PM Vidyalakshmi portal, which offers a seamless, digital application process by integrating with various banks.

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