Loans facilitate skill development training in India

Monday, January 20, 2014

Skill development training, which costs anywhere between Rs 20, 000 and Rs 50,000 for a typical engineering student, now comes along with loans which can be converted into easy monthly instalments (EMIs).

Notable dip in campus placement is making technical colleges add professional training through skill development institutes according to Mr. Santanu Paul, CEO, Talent Sprint, a skill development firm. The company, in association with a social enterprise, is facilitating loans for students aiming to be employable.

“Skill set is the focus for hiring corporates in the backdrop of over 80 percent of engineering and IT students lacking it. While some colleges foot the bill themselves, others make students pay the additional training fee. We have tied up with Milaap, a social enterprise, to aid wanting students fund their training,” Santanu said. Milaap had extended 150 short term loans to students taking skill development training at Talent Sprint, said Mayukh Choudhury, co-founder of Milaap Social Ventures. The social enterprise is funded by National Skill Development Council (NSDC) and individual funding agencies.

Source: The Hindu (link opens in a new window)

Categories
Education, Impact Assessment
Tags
financial innovation, skill development, social impact