The PM Vidyalaxmi Scheme, approved in late 2024 to support meritorious students in Quality Higher Education Institutions (QHEIs), provides a specific interest subvention for students from families with an annual income of up to ₹8 lakh. In this context, which of the following statements is/are correct regarding the interest subvention and credit guarantee under the scheme? 1. 3% interest subvention is provided on loans up to ₹10 lakh for students with an annual family income up to ₹8 lakh during the moratorium period. 2. Full interest subvention is offered to students with an annual family income of up to ₹4.5 lakh for technical/professional courses under the existing PM-USP CSIS. 3. The Government of India provides a 75% credit guarantee for loan amounts up to ₹7.5 lakh, irrespective of the student's family income. 4. The interest subvention benefit is transferred through an e-voucher/CBDC wallet mechanism under the PM Vidyalaxmi digital platform.

The PM Vidyalaxmi Scheme was launched to ensure that financial constraints do not prevent meritorious students from pursuing higher education in India's top 860+ QHEIs. Subvention Tiers: Students from families earning up to ₹8 lakh per annum receive a 3% interest subvention on loans up to ₹10 lakh. This is in addition to the full interest subvention already available for those with income up to ₹4.5 lakh under the PM-USP Central Sector Interest Subsidy (CSIS) scheme for technical courses. Credit Guarantee: To encourage banks to lend without collateral or guarantors, the government provides a 75% credit guarantee for loans up to ₹7.5 lakh. CBDC Integration: In a significant push for digital finance, the subsidy is credited to the student's CBDC (Digital Rupee) wallet via a dedicated app, which can then be redeemed to the loan account. Repayment: The loan has a repayment period of up to 15 years, and the interest rate is capped at the individual bank's Externally Benchmarked Lending Rate (EBLR) + 0.5%.