Vidyasaarathi is a technology-enabled initiative by NSDL e-Governance Infrastructure Limited (NSDL e-Gov) to bridge the gap in education finance in the country through an online platform. Students can search and apply for various education finance schemes they are qualified for. Fund providers, industries, and corporates can promote skill development by designing education finance schemes in Vidyasaarathi and manage these schemes
The solution would help manage the entire online education finance application lifecycle i.e. submission and review of application, award of scholarship, disbursement of funds, and renewal of education finance. Vidyasaarathi is positioned as a user friendly, transparent, and demand driven platform which will help the corporate sector in playing a positive role in developing education finance for the Indian society at large.
Vidyasaarathi proposes to effectively bring together various stakeholders in the education ecosystem. The solution would help manage the entire online scholarship application lifecycle i.e. submission and review of scholarship application, award of scholarship, disbursement of funds, and renewal of scholarships. Vidyasaarathi aspires to empower the fund providers as well as students to develop an ecosystem that benefits all stakeholders.
Ministry of Corporate Affairs has recently notified Section 135 and Schedule VII of the Companies Act as well as the provisions of the Companies (Corporate Social Responsibility Policy) Rules, 2014 (CRS Rules) which has come into effect from 1 April 2014. Section 135 of the Companies Act provides the threshold limit for applicability of the CSR to a Company i.e. (a) net worth of the company to be Rs 500 crore or more; (b) turnover of the company to be Rs 1000 crore or more; (c) net profit of the company to be Rs 5 crore or more. Further as per the CSR Rules, the provisions of CSR are not only applicable to Indian companies, but also applicable to branch and project offices of a foreign company in India. Vidyasaarathi can be used by fund providers, industries, and corporate entities to promote skill development by designing and managing education finance schemes using this platform to disburse their CSR fund in higher education.
Due to unaffordable and increasing fees structure of the higher education in India many students misses out on the higher education due to lack of funds. Those students that are willing to pursue higher education and need financial support can use Vidyasaarathi platform to avail the required financial support. Students seeking for education scholarship can search and apply for various education finance schemes that they are qualified for.
Vidyasaarathi would allow fund providers to create their own education finance scheme and manage it through their own foundation or through a Vidyasaarathi empaneled trust/ foundation. Through Vidyasaarathi the fund providers would be able to;
NSDL e-Governance Infrastructure Limited (NSDL e-Gov) was originally setup as a Depository in 1995 and has over the years used its inherent strengths, project management capabilities & technology expertise to deliver state of the art e-Governance solutions which has helped Governments to identify and clear bottlenecks, promote transparency, reduce service delivery costs and deliver public services efficiently. The solutions have efficiently made use of information and communication technologies as a tool for delivering public services and benefits to society at large. Some of the key e-Governance projects undertaken by NSDL e-Gov are:
NSDL e-Gov works closely with various Government agencies for designing, managing and implementing e-Governance Projects. Over a period of time, NSDL e-Gov has gained varied experience and expertise in areas that help Governments overcome various challenges faced by them in fulfilling their core responsibilities of delivering public services to the society.
NSDL e-Gov has also established Service Centre network across the country which serve as access points for the general public and are efficiently used by Governments to deliver quality services in a user friendly and transparent manner to the citizens. Visit www.egov-nsdl.co.in for more information.