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20 June 2013

Students receive benefits of Government education loan scheme

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Raipur. Till date, loans of more than Rs. 3 Crore has been sanctioned to 156 students of state for pursuing various technical and professional courses, under Chief Minister Higher Education Loan Subsidy Scheme. The objective of the scheme is to provide education loan facility to the youths of families having annual income upto Rs. 2 lakh. Eligible students are provided loan of maximum Rs. 4 lakh for higher education at nominal interest rate of 4 percent, said Technial and Higher Education Minister Ramvichaar Netam on Monday.

"The Loan Subsidy Scheme was started in state from November 29, 2012. Canara Bank was authorised as nodal bank under the scheme. And till date, 156 students have been sanctioned loan under the scheme. Students, from November 29, 2012. Canara Bank was authorised as nodal bank under the scheme. And till date, 156 students have been sanctioned loan under the scheme. Students from families having annual income of not more than Rs. 2 lakh, are provided loan of maximum Rs. 4 lakh at 4 percent interest rate for pursuing any of the 35 professional courses. The remaining amount of interest based on the fixed interest rate of the bank will be paid by State Government as subsidy. In case, the students pay off the installments regularly after the moratorium period, additional subsidy on loan interest will be provided," said the minister adding that the scheme is only for the domiciles of Chhattisgarh.

A student can avail the benefits of the scheme only once for graduation course. Students pursuing higher education in reputed educational institutions outside the state (those marked under the scheme), can also avail the facilities under the scheme. Applicants for the scheme will have to attach salary-certificate issued by authorized officer. State Government has authorized 28 banks of public sector and 21 banks of private sector for providing loans to the students. Authorized banks of public sector include - Allahabad Bank, Andhra Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Dena Bank, Indian Bank, Indian Overseas Bank, Indian Bank, Orientel Bank of Commerce, Punjab and Sindh Bank, Punjab National Bank, State Bank of Hyderabad, State Bank of India, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore, Syndicate Bank, UCO Bank, Union Bank of India, United Bank of India, Vijaya Bank, IDBI Bank, Saurashtra Bank and all other Regional Banks. Similarly, authorized banks of private sectors include Axis Bank Limited, Bank of Punjab Limited, Bank of Rajasthan, Catholic Syrian Bank, Sanchunian Bank Limited, City Union Bank, Development Credit Bank, Dhanlakshmi Bank, Federal Bank Limited, HDFC Bank Limited, ICICI banking Corporation Limited Indus Ind Bank, ING Vyasya Bank, Jammu and Kashmir Bank, Nainital Bank, Karnataka Bank, Karur Vyasa Bank, Lakshmi Vilas Bank, Saraswat Bank and South Indian Bank Limited.

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