The union Human Resource Development (HRD) ministry will provide financial assistance for higher education to needy children who have passed their Class 10 with minimum B1 grade under the CBSE grading system.
A statement from the HRD ministry said the assistance will be provided to students if their parent's income is less than Rs.5,000 per month.
"The amount of grant given to such meritorious students shall not exceed Rs.20,000 for Class 10 and Rs.40,000 for Class XII during any one financial year," an official statement from the ministry said.
B1 grade is equivalent to 81 to 90 percent marks.
"Grants for financial assistance will be sanctioned from the HRD minister's discretionary fund. Preference will be given to physically handicapped children, to children belonging to SC/ST/OBC and to girls from rural areas and to the girl child under BPL (below poverty line)," the statement added.
To avail assistance under HRM's discretionary fund, the students need to apply in the prescribed application form available on the website mhrd.gov.in.
