- All the documents to be submitted should be certified as true copies by an S.E.M. or Head of the Institution in which the student is studying or has studied or gazetted officer.
- The guarantors of students who will receive the loan scholarship have to provide the following evidence -
- A joint and demand promissory note
- An agreement in the prescribed format
- Receipts and acknowledgements in the prescribed form
- The person proposed as guarantor must be a male and permanent resident in Mumbai having a monthly income of not less than INR 10,000 for applicants pursuing studies in India and INR 15,000 for applicants pursuing studies overseas.
- Applicants are required to submit two letters of recommendations from individuals who are resident in Mumbai.
- Applicants must have taken an Endowment Life Insurance Policy for a sum equivalent to or in excess of the loan scholarship for a period not be more than 20 years. (If the applicants have an existing insurance policy, they can assign it to the trustees if it covers the loan amount).
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