Don't want to miss the best from Business Standard?
Saturday, November 29, 2025 | 12:17 AM ISTहिंदी में पढें
PSBs red flag technical glitches in implementing PM Vidyalaxmi scheme
Among the key issues highlighted are persistent technical glitches, including repeated login failures due to server-level errors and frequent auto logouts from the portal
 "Bank, Banking, PSBs")
premium
The PM Vidyalaxmi offers collateral-free and guarantor-free education loans, with government-backed credit guarantees of up to 75 per cent for loans up to ₹7.5 lakh
Amid a slow uptake of the PM Vidyalaxmi scheme — a central government initiative aimed at providing financial support to meritorious students — public sector banks (PSBs) have raised several concerns regarding its implementation.
This comes even as the finance ministry told PSBs to launch awareness campaigns to improve outreach.
Among the key issues highlighted are persistent technical glitches, including repeated login failures due to server-level errors and frequent auto logouts from the portal.
Furthermore, the migration of old leads to the new portal has not been completed, making it difficult for banks to track and process previous applications, said
