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Information about Loan Scholaraship

With a view of helping students to go abroad for higher studies, students have been selected on all India basis and interest free Loan Scholarships have been offered to them irrespective of cast, creed, language, religion and region. Recently the facility of interest free Loan Scholarships has been extended to students pursuing research leading to Ph.D. in India. Strict scrutiny of applications and thorough screening of applicants by a Selection Committee has earned high credibility to this programme. Getting selected for award of interest free Loan Scholarship of the Sakal India Foundation has, therefore, become hallmark in the academic world.

  1. The Sakal India Foundation offers educational interest free Loan Scholarships upto Rs. 70,000/- to Indian graduates of any university who propose to study for Post-graduate degree abroad or studies leading to Ph.D. in India. In addition every year the Sakal Papers Trust Scholarship of Rs.10,000/- ( non - refundable ) will be awarded to the deserving student pursuing postgraduate studies in Journalism in an institution in India or abroad.
  2. To be eligible for the interest free Loan Scholarship an applicant must have secured admission to an Indian / abroad University for academic study of not less than one year's duration. Similarly, the applicant must have valid registration for doing research leading to Ph.D in a statutory university / national institute / institute of equivalent standing in India from two years prior to the date of application for the Scholarship.
  3. The interest free Loan Scholarship is repayable without interest within a period of two years from the date of sanction. If the awardee exceeds this period, he / she will have to pay interest on the amount then due at the rate of 12% per annum from the date of sanction till its entire repayment.
  4. These interest free Loan Scholarships are announced in most of the leading newspapers in India during the first fortnight of February. While requesting prescribed application form, students should enclose a copy of the letter from the University / Institution which has granted confirmed admission and a self addressed and stamped ( Rs. 10/- ) envelop.
  5. The application has to be made only in prescribed form by eligible students as per conditions 2 and 4 above. The duly filled in prescribed application form should be sent along with non - refundable application fee of Rs. 200/- through Demand Draft. The D.D. of Rs. 200/- should be drawn in favour of “ Sakal India Foundation ”, issued on Bank of India, Pune city branch, Pune – 411002
  6. Application forms are not ordinarily issued after 1st June and last date for the receipt of duly completed application form is 15th June or as per the dates declared every year in daily newspapers.
  7. A student who is already admitted to a Foreign University / Institution and who is studying there for some time is considered not eligible to apply.
  8. The selection of the applicant is made by the Selection Committee which meets only once in a year in month of July. Interviews cannot be arranged on any earlier or later date. Applicants are expected to attend interviews at their own cost.
  9. Selected applicants are informed within 7 days from the last date of interviews.
  10. Selected students are required to sign an agreement bond on Rs. 500/- stamp paper agreeing to repay the amount of interest free Loan Scholarship within a period of two years.
  11. The agreement bond will have to be signed by two guarantors who will undertake to repay the amount of the interest free Loan Scholarship in case the student is unable to do so for any reason. The two guarantors will have to confirm independently by writing to the Sakal India Foundation that they have signed the bond.
  12. The amount of Loan Scholarship will be paid directly to the awardee.
  13. The foundation doesn't give any financial assistance to a scholar who proposes to attend conferences or seminars or workshops or training programmes in India / abroad.
  14. It is expected that every scholar keeps the Sakal India Foundation informed of his / her academic progress from time to time and that the scholar will return to India to give benefit of advanced knowledge and experience to fellow countrymen. Further it would be appreciated if the awardee on his own, donates the amount equal to the interest free Loan Scholarship as and when it is possible in future.