The Ministry of Minority Affairs (MoMA) has conveyed to the Indian Banks' Association that it has discontinued the scheme of interest subsidy on education loans for students undertaking studies abroad/overseas, belonging to the minority communities (Padho Pardesh) through Canara Bank.

The Indian Banks' Association in a circular dated December 16, 2022 added that the existing beneficiaries as on March 31, 2022 will continue to receive the interest subsidy during the moratorium period of the loan, subject to compliance with extant guidelines. The move comes after the Centre withdrew the Maulana Azad National Fellowship (MANF) in December 2022, which was awarded to students from minority communities.

What is Padho Pardesh?
As per details available on the website of MoMA, the scheme aims, "to provide interest subsidy to the student belonging to the communities declared as minority communities in terms of section 2 (c) of National Commission for Minorities Act, 1992, on the interest payable for the period of moratorium for the Education Loans under the Scheme of Interest subsidy on Educational Loans for Overseas Studies to pursue approved courses of studies abroad at Masters and M.Phil/Ph.D levels."

An official comment from the government is awaited. Meanwhile, students continue to voice their opposition to the withdrawal of MANF. Most recently, senior Congress leader Husain Dalwai appealed to the Centre to reinstate MANF and the pre-matriculation scholarship scheme for minority community students. The MANF scholarship is meant for MPhil and PhD scholars from Muslim, Christian, Sikh, Buddhist, Parsi and Jain communities.