Hello friends! If you searching a way to become less dependent on parents for college fees & other expenses then we have something for you as LIC Golden Jubilee Scholarship Scheme is launched so stay with us to know more about this exciting scholarship opportunity.
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About LIC
The Life Insurance Corporation of India is an Indian central public sector undertaking based in Mumbai, Maharashtra. It is owned by the Ministry of Finance, Government of India. Its primary mission is to raise funds from individuals through various life insurance policies and then invest in global financial markets and government securities. Under one of the LIC regulations, at least 75% of these proceeds must be invested in central and state government securities.
It was established in 1956 under the Life Insurance of India Act, which nationalised the Indian insurance sector and merged up to 245 insurance companies to form the life insurance behemoth. When the company was formed, the government of India contributed Rs 5 crore in capital.
Objective of LIC Golden Jubilee Scholarship Scheme
The scheme’s goal is to award scholarships to deserving students from economically disadvantaged backgrounds in order to provide them with better opportunities for higher education and employment.
Scope
The scholarship will be awarded for studies at a government or private college/university in India. It will also cover technical and vocational courses in Industrial Training Institutes/ Industrial Training Centres affiliated with the National Council for Vocational Training (NCVT) and also Integrated Courses after XII Std.
Elgibility Criteria for Regular Scholar
- All candidates who have passed the Class XII exam (or its equivalent – Regular/Vocational) / Diploma with at least 60% marks (or equivalent grade) in the Academic Year 2021-22 and whose parents/guardians have an annual income (from all sources) of not more than Rs.2,50,000 per annum* (please see clause 6 I – relaxation) are eligible to apply for a scholarship. Students who are interested (and willing) to pursue higher education in the fields of Medicine, Engineering, Graduation in any discipline, Integrated Courses, Diploma Course in any field or other equivalent courses, Vocational Courses through Government recognized Colleges/Institutes or courses in Industrial Training Institutes are eligible for the grant (ITIs).
- Every Candidate who has passed the Class X exam (or its equivalent) with at least 60% marks (or equivalent grade) in the Academic Year 2021-22 and whose parents/guardians have an annual income (from all sources) of not more than Rs.2,50,000 per year are eligible. Students pursuing higher education in the field of Vocational / Diploma Courses through Government recognized colleges/institutions or courses in Industrial Training Institutes are eligible for the grant (ITI).
Qualifying Criteria for Special Girl Child Scholar
To promote girl child education, After class 10, a special scholarship is available for female students to pursue higher education in Intermediate/10 + 2 pattern/ Vocational or Diploma Courses through Government recognised colleges/institutions or courses in Industrial Training Institutes (ITI) for two years. Candidates who have passed the Class X exam (or its equivalent) with at least 60% marks (or equivalent grade) in the Academic Year 2021-22 and whose parents/guardians have an annual income (from all sources) of not more than Rs. 2,50,000.
Duration of Scholarship
Scholarships will be provided for the duration of the course for Regular Scholars and two years for Special Girl Scholars, subject to the candidate meeting the eligibility requirements for renewal.
Info about Scholarship Amount
- The selected Regular Scholar will receive a stipend of Rs.20,000/- per year, payable in three installments.
- A scholarship of Rs.10,000 per year will be awarded to the selected Special Girl Child, with payments made in three installments.
Important Note
If the candidate is chosen for a scholarship, the Bank Account details and IFSC code, as well as a copy of a cancelled cheque with the name of the beneficiary, are required. In the case of merged banks, the new IFSC Code should be mentioned. The bank account into which the funds are to be transferred must be active, and if it is dormant, it must be activated before the details are provided. The bank account’s maximum balance should also be checked.
How to apply in LIC Golden Jubilee Scholarship Scheme?
To apply in LIC Golden Jubilee Scholarship Scheme CLICK HERE
To view the official notification of LIC Golden Jubilee Scholarship Scheme CLICK HERE
