
PM-YASASVI Scholarship: All You Need to Know
PM-YASASVI Scholarship Latest News
PM-YASASVI Scholarship Key Takeaways
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The PM-YASASVI scholarship is a flagship scheme introduced by the government of India and administered by the Ministry of Social Justice and Empowerment. It helps students from Other Backward Classes, Economically Backward Classes (EBC) and De-Notified Tribes (DNT) to complete their education journey. This scheme ensures that the meritorious students are given enough opportunities and do not drop out simply due to a lack of funds.
What is PM-YASASVI?
The Pradhan Mantri Young Scholarship Award Scheme for Vibrant India (PM YASASVI) is designed for Top Class Schools that have secured 100% percentage in their class belonging financially from financially weaker communities, including OBC, DNT, and EBC. The scheme is only available for students studying in India and is funded by the candidate's State or Union Territory. The true aim of PM YASASVI is to promote equal quality of education by supporting the weaker sections, which covers the key aspects of their education like books, uniforms, tuition fee and other monetary assistance. The students of class 9 are expected to get Rs. 75,000, and the 11th standard students shall receive Rs. 1,25,000 for their academic expenses. Here are the subcategories of the scheme and what it covers:
- Pre-Matric Scholarship for OBC Students and other lower communities is for school-level education.
- Post-Matric Scholarship OBC/EBC/DNT is for students who want to complete their education at higher secondary, college, professional and post-graduate levels.
- Top Class School Education, Top Class College Education, and Hostel construction sub-schemes are eligible for students under YASASVI.
Who it Benefits
The PM-YASASVI scholarship provides significant support in covering the education expenses of students at different academic levels. It offers various benefits to:
- Students belonging to underprivileged backgrounds - OBC, EBC and DNT communities.
- Students taking admission in reputed institutions of India, including colleges, universities, technical, medical, degree or professional.
- Students whose annual family income is Rs. 2.50 Lakh or below.
Key Features and Benefits of PM YASASVI
- Tuition Fee Reimbursement: Covers examination fee, tuition fee and other costs related to academics for eligible students pursuing higher education.
- Maintenance Allowance: Students receive ongoing maintenance support to help with their basic living costs, which makes their lives much easier.
- Annual Renewal: The scholarship to OBC students and other classes can be renewed every academic year once they have met the relevant performance and attendance criteria, ensuring continuity in their education.
- Supports a Wide Range of Courses: It is provided to applicants with degree courses, technical/courses, etc, all that is defined under Group I/II/III categories.
- Free Ship Cards: A free ship card is issued by the State Govt or UT Administration to allow the student to be eligible under the scheme and take admission without any pre-payment of their tuition or hostel fee.
Allowance Benefits: Stipends Offered
| Course Category | Annual Allowance | Annual Tuition Fee | Total |
| 1. Group 1 (Professional postgraduate and degree courses) | INR 10,000/- | INR 10,000/- | INR 20,000/- |
| 2. Group 2 (Other professional courses, including Diploma, Certificate and Degree | INR 8,000/- | INR 5,000/- | INR 13000/- |
| 3. Group 3 (Graduate and Post Graduate Programs and courses which are not covered under Group I and II) | INR 6000/- | INR 2000/- | INR 8000/- |
| 4. Group 4 (All post-matric non-degree courses, which are after 10th standard) | INR 5000/- | INR 0 | INR 5000/- |
| It is important for students applying for the PM YASASVI scholarship to have an Aadhaar-linked bank account to receive their financial aid through DBT (Direct Benefit Transfer). You can open a zero-balance digital savings account like Kotak 811 to get hassle-free DBT receipts, easy tracking and without the burden of maintaining a minimum balance requirement. |
Eligibility Criteria
- Applicable for Indian Nationals belonging to OBCs, DNTs and EBCs as listed by the UT Admin/State Govt/Central Govt.
- Will be granted to students from recognised institutions enrolled in verified post-secondary and post-matriculation courses and not the ones studying class XI or class XII from Multipurpose High School.
- The students who are pursuing education through correspondence or online courses are also eligible for the scheme.
- Only two male siblings from the same parent or guardian will be granted the DNT, EBC or OBC scholarship. However, this limitation is not applicable in the case of girls.
- The student should not be holding any other scholarship or stipend benefit of the government to be eligible for PM YASASVI
- They should have successfully passed their previous academic year or equivalent qualifying exam.
Exclusions
- Students pursuing distance learning or correspondence courses, only regular and full-time courses are covered.
- Students who have already completed their education career with one professional course (for example, LLB, after B.Ed) will not be eligible for the scheme.
Documents Required
- A passport-sized photo of the student
- Aadhaar Card
- Qualification marksheets and certificates
- OBC / EBC / DNT caste certificate as per the Domicile state
- Valid Income proof issued by a verified authority
- Bank Account details
- Disability certificate, if any.
Application Process
Registration and Application
- Head to the National Scholarship Portal (NSP) https://scholarships.gov.in/ for your EBC, DNT or OBC scholarship registration.
- Click on 'New Registration' under Applicant Corner if you are creating the account for the first time.
- If you already have an account, click on 'Fresh Application' and log in with your passwords and application ID.
- Provide your details as requested, and next select the scholarship.
- Fill the application form.
- Upload all the documents as requested and hit Submit.
The duration of the complete process may differ depending on your State/UT. For more benefits, consider applying through the IT portal of your relevant state or union territory.
Verification
- Once you have submitted your application, it will go through a step of verification. This includes approval through the institution, the district and the central body.
- The Aadhaar, income and caste certificates are checked for authenticity.
Check Status & Benefit Disbursal
- Students can track the status of their application and even the benefits received directly by logging into their account on the NSP portal.
- Once your OBC scholarship is approved, your funds will be transferred via DBT to your Aadhaar-linked bank account during the application.
Conclusion
With the PM YASASVI Scheme, the government of India has created a transformative initiative that sends a simple message - freedom of education and equal treatment for talented students. It serves as an assistant for a brighter future for the youth. The scholarship will be awarded based on merit, which means there will be no need for an entrance exam. So, before applying for the scheme, visit the NSP portal and see if you meet all the eligibility criteria and have a relevant bank account to receive your funds. Good luck with a progressing career ahead!
FAQs on PM-YASASVI Scholarship
1. Can my scholarship be terminated midway?
Yes. If the Head of Institution finds unsatisfactory progress, or any sort of misconduct like going on a strike or lower attendance, the scholarship can be withdrawn.
2. How can I avail a free ship card when renewing my scholarship?
The renewal students do not need to go through the fresh registration to receive a freeship card. Once issued, the card will be valid for the entire duration of your course.
3. How is the EBC/DNT/OBC scholarship amount actually distributed?
Your entire scholarship fund will be distributed into different fees and allowances. These include tuition fees, maintenance benefits, living costs, etc, which will be paid directly to your bank account.
4. For how long will the scholarship be payable?
Your scholarship will be paid till the completion of the course, and as long as you maintain satisfactory performance and an attendance of 75%
5. How will the tuition fees be paid to the online students?
Students studying online or in correspondence will also receive their tuition online to their bank account.
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This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Newsletter. The information contained in this Article is sourced from empanelled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees, and contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.
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