All pending interest subsidy claims can be submitted immediately as one time measure

Under instructions from MHRD, Indian Banks' Association has notified that all pending interest subsidy claims (1.4.2009 to 31.3.2014) belonging to SC/ST and General category can be submitted immediately by the bank branches to the nodal bank.  

The eligible students, who did not get the interest subsidy earlier may immediately meet the Manager and submit a letter of request to the Bank.  They can also give the copy of the notification to the branches.  If the Branch Managers do not respond positively, the students can report to the Chairman of the Bank and also to Reserve Bank of India.

Canara Bank will open the portal on 1st Sep 2015 and close on 15th Sep 2015.  The eligible students may meet the Bank Manager and give a letter requesting him to submit the pending claims within the due date.

The copy of the notification:

No RB/CIR/CSIS/15

26^th  August, 2015

VERY URGENT

To:

The Chief Executives of Member Banks

Dear Sir/Madam,

Opening of CSIS portal for claiming CSIS subsidy for

OLD CASES-final chance

The Ministry of HRD vide their communication dated 20^th August, 2015 has advised to keep the web portal open and sensitize all the banks that, this is the last opportunity for banks to lodge the claims and ensure that the eligible students who have availed education loans  are not deprived of the benefit of interest relief. The Ministry of HRD has requested IBA to advise members banks that portal will be opened for lodging all old pending claims in respect of ALL THE ELIGIBLE unclaimed cases [including SC/ST and General Category] for the period from the year 01.04.2009 to 31.03.2014 as a onetime measure.  This will be the final chance.

Accordingly, the Nodal bank viz. Canara Bank has informed us that they are in process of opening the CSIS Web Portal for submission of the old pending / left over cases and will be informing the date of the opening of portal very soon. 

In the meantime, we request all the members to please keep the required details ready for submission of the eligible claims.  KINDLY NOTE THAT THIS WILL BE THE FINAL ONETIME MEASURE AND THERE WILL BE NO MORE OPPORTUNITY TO CLAIM THE CSIS SUBSIDY for the old claims for the period from the year 01.04.2009 to 31.03.2014.

Please note that the CSIS Scheme is also applicable to RRBs, we request all sponsoring Public Sector Banks to inform their respective RRBs to take necessary action in the matter.

Please be guided accordingly with immediate effect.

Yours faithfully,

K Unnikrishnan

Dy. Chief Executive

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