The Government has asked the public sector banks (PSUs) to disburse education loans to students of economically weaker sections. The Human Resource Development Ministry has finalised the modalities for implementation of the new scheme. <br/> <br/>The scheme will benefit the students whose parental is less than Rs 4.5 lakh a year. Official sources said the Ministry has finalised the modalities of the scheme in consultation with Indian Banking Association for those pursuing courses in professionals and technical streams from recognized institutions. <br/> <br/>The proof of the income is to be certified by authorities to be designated by the state governments. The HRD Ministry has return to Chief Secretaries of States and Union Territories to intimate the designated authority at the district, sub-district and block levels to the Banks so that that process of loan disbursement is smooth and transparent . Our correspondent reports, with the educational loan scheme becoming operational students can approach the respective Public Sector Banks for loans after completing the formalities. The loans are due from the Academic year 2009-10 onwards. <br/>