Tata Motors has announced the launch of two impactful funding programs, ‘Vidyadhan’ and ‘Utkarsha’, aimed at supporting the higher education of the children of its technicians working in manufacturing facilities across India, including those in Pune, Lucknow, Jamshedpur, Dharwad, Sanand, and Pantnagar. These initiatives mark a significant step towards enhancing educational opportunities and reducing financial barriers for the next generation of its workforce.
The ‘Vidyadhan’ program introduces education loans at concessional rates to assist students pursuing higher education after completing grade 10th and 12th. Through this program, eligible technicians' children can access loans of up to Rs. 7.5 lakh. The loans cover up to 95% of domestic education fees or 85% of international education fees. Tata Motors has partnered with the State Bank of India (SBI) to offer these loans, with Tata Motors providing additional concessions on the interest rates charged by SBI. Specifically, boys will benefit from a 50% reduction in the interest rate, while girls, transgender individuals, and specially abled children will receive a 70% reduction. To qualify for the ‘Vidyadhan’ program, students must be enrolled in a full-time graduate or postgraduate course of at least two years in duration at recognized universities or institutions equivalent to AICTE standards, either in India or abroad.
Complementing this, the ‘Utkarsha’ program is designed to promote inclusivity by offering annual scholarships of Rs. 25,000 to girls, transgender individuals, and specially abled children. This scholarship is available to students who have completed grade 10th or 12th and have achieved a minimum of 60% in their examinations. To be eligible, applicants must secure admission to a recognized university or AICTE-equivalent institution, either domestically or internationally.
Mr. Sitaram Kandi, Chief Human Resources Officer (CHRO) of Tata Motors, expressed enthusiasm about the programs, stating, “Quality education is vital for progress and development. With these programs, we are making higher education more accessible and enabling the next generation of our hardworking technicians to fulfill their own dreams as well as those of their parents. While the children can focus on studying beyond 10th and 12th grades in any field of their choice, the parents do not have to worry anymore about the financing required for it. They will have better opportunities to build a successful career and life with the right qualifications and skills”.
