This program awards few interest-free loan scholarships to Indian students. Scholarships are offered for postgraduate studies at prestigious institutions both in India and abroad. The amount of each scholarship is up to a maximum of Rs. Ten Lacs and this is decided on assessment by the administration.
More details at http://www.nsscholarship.net/
It takes a minimum of 2 lakhs to pursue a Master’s/PhD abroad, excluding the tuition. This interest free scholarship (loan) is a good option.