In its continuing endeavour towards bridging the gap between aspirations and accessibility, Tata Motors announced the launch of two special funding programs ‘Vidyadhan’ and ‘Utkarsha’, to facilitate higher education of the children of its technicians working in manufacturing facilities across India including plants in Pune, Lucknow, Jamshedpur, Dharwad, Sanand and Pantnagar regions.
Under the ‘Vidyadhan’ program, education loans are being made available at concessional rates to support the higher education of children post successfully clearing grade 10th and 12th. With ‘Utkarsha’, girls, transgenders, and specially abled children will additionally benefit from annual scholarships being offered.
Announcing the launch of ‘Vidyadhan’ and ‘Utkarsha’, Sitaram Kandi, Chief Human Resources Officer (CHRO), Tata Motors, said, “Quality education is vital for progress and development. With these programs we are making higher education more accessible and enabling the next generation of our hardworking technicians to fulfil their own dreams as well as those of their parents. While the children can focus on studying beyond 10th and 12th grades in any field of their choice, the parents do not have to worry anymore about the financing required for it. They will have better opportunities to build a successful career and life with the right qualifications and skills.”
‘Vidyadhan’, an education loan program serves as the transformative bridge to higher learning for empowering the next generation to realize their potential to the fullest. Eligible technicians can access loans of up to INR 7.5 lakh, covering up to 95% of fees for domestic education or up to 85% for international education fees. These loans are being offered in collaboration with State Bank of India (SBI) and Tata Motors will offer concessions over the interest rate being charged by SBI – 50% lower interest rate for boys and 70% lower for girls, transgender individuals, and specially abled children. To qualify, the student must be enrolled in a full-time graduate or postgraduate course of minimum 2-years duration and affiliated with recognised universities or AICTE-equivalent institutions in India or abroad.
The ‘Utkarsha’ program will provide a scholarship of INR 25,000 every year to support the higher education of girls, transgender individuals, and specially abled children post successful completion of grade 10th or 12th. To qualify, applicants must have scored a minimum of 60% and secured admission in a recognised university or AICTE-equivalent institution in India or abroad.