Govt asks banks to implement interest subsidy scheme on edu loans -Governance Now

Govt asks banks to implement interest subsidy scheme on edu loans

PTI | June 28, 2010

Unhappy over the delay in implementation of an interest subsidy scheme on education loans for poor students, government convened a meeting of scheduled commercial banks and sought to know the problems faced by them in carrying out the scheme. The banks wanted to know students of which type of institutions would get the benefit. They also wanted to know whether students of the blacklisted deemed universities would get the benefits.

HRD ministry officials clarified the doubts of the banks and asked them to implement the scheme soon. The ministry had earlier directed all banks to implement the scheme on education loans for poor students pursuing higher studies.

The scheme is effective from the academic year 2009-10. For 2010-11, the government has made a provision of Rs 500 crore for the scheme. However, it is yet to be implemented on ground.

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