Under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 2016-20, 37.32 lakh (approximately) candidates have been trained so far revealed Union Minister for Skill Development and Entrepreneurship Dharmendra Pradhan in a written reply to the Lok Sabha.
According to Pradhan, 25.25 have been trained under Short Term Training (STT), 11.27 lakh under Recognition of Prior Learning (RPL) and 80,000 under special projects in various sectors across the country also till 24 January, 2019.
Government of India has launched “Skill Loan Scheme” with a view to support youth by providing a loan facility to individuals who intend to take up skill development courses as per the Skill Loan eligibility criteria. Skill Loan Scheme is applicable to all the member banks of Indian Bank Association (IBA) and any other bank and financial institution including Micro Finance Institution regulated by Reserve Bank of India (RBI).
Bank of India being the lead bank of Ministry of Skill Development & Entrepreneurship has been the first bank to notify and implement such a Skill Loan Scheme. The Loans are available in the range of Rs 5,000 to Rs 1,50,000.
As per the information collected from Indian Banks' Association (IBA), during the financial year 2017-18, a total amount of Rs 29.06 crore was disbursed against 3,551 number of accounts. Further, during the FY 2018-19 (till Dec’18) a total amount of Rs 19.46 crore was disbursed against 2,429 accounts.