The Centre has introduced a revised Model Skill Loan Scheme, designed to provide financial support for skill development courses to the nation’s youth. The Model skill loan scheme was launched in 2015. The loan scheme now includes non-banking financial companies (NBFCs), NBFC-MFIs (micro-finance institutions), and small finance banks as eligible lending institutions, in addition to private, public, and foreign banks. The maximum loan limit has been increased to Rs 7.5 lakh from the previous Rs 1.5 lakh.