While the recent NISM announcement highlights the facility to download NISM certificates through DigiLocker, its benefits for finance students extend even further. Here's what DigiLocker offers (apart from storing & document access):
1. Government Scholarship Management:
DigiLocker could be integrated with government scholarship programs to allow students to:
Upload required documents electronically for scholarship applications.
Securely receive and store scholarship award letters within DigiLocker.
Access disbursement details and track scholarship payments.
2. Education Loan Applications:
Banks or financial institutions offering education loans could potentially leverage DigiLocker for:
Streamlined document verification: Students could share relevant academic documents stored in DigiLocker with lenders electronically, reducing paperwork.
Secure communication: Loan approval documents or communication regarding loan terms could be delivered securely within DigiLocker.
3. Academic Credit Bank:
- For example I studied in Cambridge university for International Financial Certification gaining 3 credits. Then I shifted to India, BSE Institute to learn about Indian Banking System so those credits can be transferred to BSE university highlighting that I’m proficient in international investment banking and continue to gain further credits at BSE Institute.
- You get credits for the skill you gain. The more skills you learn the more credits you’ve, letting the HR manager judge based on your proficiency
4. Skill Development & Certification Courses:
Government or private institutions offering skill development or certification courses relevant to finance could:
Issue course completion certificates electronically and store them within the student's DigiLocker.
Allow students to easily share these certificates with potential employers when applying for jobs.
Future Potential Features:
a) Investment Platform Integration: While not currently available, there's a potential future scenario where DigiLocker might integrate with investment platforms. This could allow students to:
- Store investment account statements or other relevant documents securely within DigiLocker.
- Access these documents easily for tax filing purposes or future reference.
b) Government Issued Financial Documents: (Potentially) In the future, DigiLocker might allow storage of government-issued financial documents relevant to finance students, such as PAN cards or scholarship certificates (if applicable).
Additional Considerations
DigiLocker's document storage capacity is currently limited, so prioritize storing the most crucial documents.
Not all universities or institutions might recognize DigiLocker documents yet. It's always best to check with the specific entity beforehand.
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