The Centrally Sponsored Scheme “National Means-cum-Merit Scholarship Scheme (NMMSS)” was launched in May, 2008. The objective of the scheme is to award scholarships to meritorious students of economically weaker sections to arrest their drop out at class VIII and encourage them to continue the study at secondary stage. Scholarship of Rs.6000/- per annum (Rs.500/- per month) per student is awarded to selected students every year for study in classes from IX to XII in Government, Government aided and local body schools. There is quota of scholarships for different states/UTs. Students whose parental income from all sources is not more than Rs. 1,50,000/- are eligible to avail the scholarships. There is reservation as per State Government norms. The selection of students for the scholarships was being made though an examination conducted by the State Governments/UT administration along with the National Talent Search Examination (NTSE) first Stage-I examination. For academic year 2013-14 onward, separate examination for selection of students for NMMS Scholarships is being conducted by the State Governments. Scholarships are disbursed by the State Bank of India directly into the accounts of students on quarterly basis.