National Means Cum-Merit Scholarship Scheme | 23 Feb 2022

Why in News?

Recently, the Ministry of Education has approved the continuation of National Means-cum-Merit Scholarship (NMMSS) over the 15^th Finance Commission cycle for a period of five years i.e. from 2021-22 to 2025-26 with financial outlay of Rs. 1827.00 crore.

What are the Key Points?

• About:
  
  • It is a central Sector Scheme, launched in 2008-09 to award scholarships to meritorious students of economically weaker sections to reduce drop-outs in class VIII.
    
    • 22.06 lakh scholarships have been sanctioned till 2020-21 involving an expenditure of Rs. 1783.03 crore.
  • It also intends to encourage students to continue the study at a secondary stage.
  • The scheme envisages award of one lakh fresh scholarships every year to selected students of class IX and their continuation/renewal in classes X to XII for study in a State Government, Government-aided and Local body schools under the scheme.
• Details of the Scholarship:
  
  • Scholarship of Rs. 12000/- per annum (Rs.1000/- per month) per student is awarded to selected students every year for study in classes from IX to XII.
    
    • The selection of students awarded the scholarships is made through an examination conducted by the State Governments.
    • Scholarships are disbursed by the State Bank of India directly into the bank accounts of students on a quarterly basis.
• Eligibility Criteria:
  
  • Students whose parental income from all sources is not more than Rs. 3,50,000/- per annum are eligible to avail the scholarships.
  • The students studying in Kendriya Vidyalaya, Jawahar Navodaya Vidyalayas, Residential Schools run by the State Government Institutions and private schools are not eligible for the scholarship under this scheme.
  • At the time of selection for the award of scholarship the candidate must have scored at least 55% marks or equivalent grade in Class VIII examination. There will be 5 % relaxation for SC.

Source: PIB