It is believed that an investment in knowledge pays the best interest. With the same thought in mind, Odisha’s CM Shri Naveen Patnaik has launched the Kalinga Sikhya Sathi Yojana on June 27. Investing in the education expenditure of the youth will pave the way for the development of the state. Under Kalinga Sikhya Sathi Yojana 2024, the Odisha government has been providing educational loans to aspiring students at a very low interest rate of only 1%. Generally, students could not pursue their higher education because of the financial problems they face but now they could get a sigh of relief and could pursue their education process smoothly. In this article, we will be describing in detail the objectives, benefits, and eligibility criteria of this scheme.
About Kalinga Sikhya Sathi Yojana
Understanding the importance of education for the development of society, the Odisha government has launched Kalinga Sikhya Sathi Yojana. With this scheme, all the parents who are too burden because of the education they want to provide to their children will get a sigh of relief. Under the Kalinga Sikhya Sathi Yojana, the government is providing educational loans to all endeavoring students with a minimum interest rate of 1%. Now the students who have to skip their education in the middle because of lack of finances could continue to get higher education. A student can get a maximum loan of Rs10 lakh. Several banks are included under the scheme that would provide educational loans to eligible candidates.
Also Read: Odisha Scholarship
Objectives of Kalinga Sikhya Sathi Yojana
The basic objective of this scheme is to ensure that meritorious students of poor families can enroll in higher studies. Earlier the students had to skip their studies because of financial problems but the Kalinga Sikhya Sathi Yojana will help such students to attain higher education and become something in life. This scheme provides educational loans to students who want to pursue their education in medicine, engineering, management, law, and other courses. This scheme is reducing the burden of education loans and the financial stress on the poor households of Odisha.
Brief Summary Of The Kalinga Sikhya Sathi Yojana
| Name of the Scheme | Kalinga Sikhya Sathi Yojana 2024 |
| State | Odisha |
| Launched by | CM Shri Naveen Patnaik |
| Beneficiary | Financially weak Students of Odisha |
| Objective | To provide educational loans to students so that they could pursue their higher education |
Modification In Interest Subvention Scheme for KSSY
On 10.08.2016 a modification was made by the higher education department. It was stated that this scheme is beneficial for the students who are availing of education loans from the lined-up banks. The scheme is available for all the courses recognized by the government of India. It includes courses in Management, Integrated Law, and Course of Engineering or Medicine in any educational institution established by the acts of parliament or by any state legislature.
Courses of Study Covered under KSSY
Under the KSSY scheme, we can apply for all the courses that are being pursued in all Educational Institutions for which the Government of India interest subvention is applicable as per the CSIS scheme to provide interest subsidy.
List Of Banks Under Sikhya Sathi Yojana
The following table shows a list of the banks in which we can enroll under this scheme.
| Bank Names |
| Allahabad Bank |
| Andhra Bank |
| Bank of Baroda |
| Bank of India |
| Bank of Maharashtra |
| Bharatiya Mahila Bank |
| Canara Bank |
| Central Bank |
| Central Bank of India |
| Dena Bank |
| IDBI Bank |
| Punjab and Sind Bank |
| Indian Overseas Bank |
| Punjab National Bank |
| Punjab national Bank |
| State Bank of Bikaner and Jaipur |
| State Bank of Hyderabad |
| State Bank of India |
| State Bank of Mysore |
| State Bank of Travancore |
| Syndicate Bank |
| UCO Bank |
| Union Bank of India |
| United Bank of India |
| Vijaya Bank |
| IndusInd Bank |
| Bandhan Bank |
| City Union Bank |
| DCB |
| Federal Bank |
| HDFC Bank |
| ICICI Bank |
| Karnataka Bank |
| The South Indian Bank Limited |
| Karur Vysya Bank |
| Kotak Mahindra Bank |
| Lakshmi Vilas Bank |
| Standard Chartered Bank |
| The South Indian Bank limited |
Features of Kalinga Sikhya Sathi Yojana
Some important features of the scheme are as follows
- This scheme provides aid to contender students for professional courses in UGC/AICTE-acknowledged institutions.
- Only those students can apply whose income of the family is up to Rs 6 lakh per annum.
- The payment period of the banks under the Kalinga Sikhya Sathi Yojana is also very effective. For loans up to Rs. 7.5 lakh the banks are offering 10 years for the repayment. For loans up to Rs. 10 lakh, 15 years of the period have been given by the bank.
- Loans are being provided to the candidates at a very low interest rate of only 1% and during the moratorium period, it is zero.
Benefits of Kalinga Sikhya Sathi Yojana
The benefits of this scheme are as follows.
- Students can get a maximum loan of rupees 10 lakh at a very low-interest rate of 1%.
- The period of repayment of the loan is also at least 10 to 15 years so the candidate will not have to rush or feel tense about the repayment.
- The applicants will have to pay only 1% interest on the loan amount. The rest of the interest will be borne and paid by the government of Odisha itself.
- Around Rs 500 crore has been designated by the state government for this scheme.
Eligibility Criteria Of Kalinga Sikhya Sathi Yojana
The candidate can be eligible for the scheme when he or she fulfills the following conditions.
- A student must be a resident of Odisha to avail of the benefits of this scheme.
- The income of the family of the applicant should be up to Rs 6 lakh per annum.
Documents Required Of Kalinga Sikhya Sathi Yojana
- Passport-size photo of the applicant
- Identity proof such as voter identity card, ration card, PAN card, etc
- Bank passbook
- Marksheet or degree certificate of the applicant of last qualifying examination
- Statement of means
- Employment verification certificate
- Domicile proof
Application Procedure Under Kalinga Sikhya Sathi Yojana
If you are an Eligible candidate and want to apply under the scheme following steps are to be followed by you.
- First of all, you have to visit the official website of the scheme launched by the government.
- A homepage with many different options appears in front of your screen.
- On the homepage, you have to select click here to apply the option another home page opens in front of you.
- You have to click on the register option and fill in all the required details that have been asked such as your name, email, ID password, captcha code, etc
- Now click on the submit option and you will be registered under the Kalinga Shikya Sathi Yojana.
Process To Do Login
If you already have an account and want to login please follow the given steps.
- The first and foremost step you have to take is to visit the official website of the scheme.
- A home page opens on your screen with many different options you have to choose click here to apply options from the given list of options.
- After this, you have to click on the login link that has been provided on the web page.
- Fill in your email ID and password and click on the login button with this you will be logged in to your account.
Process To Submit Grievance
- First of all, you need to visit the official website of the Kalinga Sikhya Sathi Yojana.
- A homepage appears in front of your screen. There you will find many different options you have to click on the option of grievance box on the left side of the page.
- As you click on the above option a form appears in front of your screen you have to fill in all the required details that have been asked in the form.
- After filling in your name, email ID, mobile number, address, and grievance you have to enter the captcha code and then click on the submit button and your grievance will be filed.