<h1>India Banks Association Updates Educational Loan Scheme for Inclusive Student Access and Efficient Loan Processing.</h1> The India Banks Association has updated its Model Educational Loan Scheme, allowing member banks to adopt and modify it as needed. The scheme is inclusive of all students, including those from minority communities, who have gained admission to professional or technical courses in India or abroad through entrance exams or merit-based selection. Complaints about loan processing issues are addressed with the banks for prompt resolution. Public Sector Banks' performance under this scheme is continuously monitored, and they are instructed to process loan applications promptly. This information was provided by the Minister of State for Finance in a Rajya Sabha session.