The government had launched a new website, vidyalakshmi.co.in, for students seeking educational loans and five banks including SBI, IDBI Bank and Bank of India have integrated their system with the portal.
"Vidya Lakshmi (www.vidyalakshmi.co.in) was launched on the occasion of Independence Day i.e. 15th August, 2015 for the benefit of students seeking educational loans," a Finance Ministry release said. The portal has been developed and maintained by NSDL e-Governance Infrastructure Limited (NSDL e-Gov) under the guidance of Department of Financial Services in the Finance Ministry, Department of Higher Education, Ministry of Human Resource Development and Indian Banks Association (IBA).