Bank of Baroda Shares in Focus; Offers Financial Aid Under PM-Vidyalaxmi Scheme

Bank of Baroda has officially launched the Pradhan Mantri Vidyalaxmi (PM-Vidyalaxmi) Scheme, an initiative by the central government designed to provide financial support to meritorious students pursuing higher education.

Digital Access to Education Loans Under PM-Vidyalaxmi Scheme

Students seeking financial assistance can now digitally apply for an education loan under the PM-Vidyalaxmi Scheme through Bank of Baroda via the PM-Vidyalaxmi portal.

This initiative simplifies the loan application process and eliminates the need for a guarantor or collateral, making higher education more accessible to deserving students.

Key Features of the PM-Vidyalaxmi Scheme

• Collateral-Free and Guarantor-Free Loans: Students admitted to the top 860 identified Quality Higher Educational Institutions (QHEIs) in India are eligible for collateral-free loans.
• Loan Amount: Loans of up to ₹7.5 lakh will receive a 75% credit guarantee from the Government of India, encouraging banks to expand coverage.
• Interest Subvention: To make loans more affordable, students from low-income families may receive partial or full interest subvention under the scheme.
• Seamless Digital Process: The entire application process is online, making it easy and efficient for students to apply without extensive paperwork.

Share Price Performance

Bank of Baroda’s share price showed an upward trend in early trading on March 28, 2025, reaching ₹233, reflecting a 0.87% gain at 10:05 AM on the NSE. The stock opened at ₹230.98, matching the previous close, and surged to an intraday high of ₹233.75 before touching a low of ₹230.01.

Conclusion

By offering collateral-free and interest-subsidised loans through a seamless digital platform, the bank is helping reduce financial barriers for students from low-income families. This initiative aligns with the government’s commitment to financial inclusion and educational empowerment.

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