Meritorious students from weaker sections should avail Education Loan: Balbir

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Shadow Correspondent
JAMMU, APR 05:
Vice Chairperson, Jammu and Kashmir Scheduled Castes, Scheduled Tribes & Backward Classes Development Corporation Limited, Balbir Ram Rattan, while addressing a press conference at Corporation Head Office, Jammu, informed that besides implementation of various financing schemes for the socio-economic upliftment of the reserved categories i.e. Scheduled Castes, Scheduled Tribes, Backward Classes, Notified National Minorities, Safai Karamcharis/Scavengers and Physically Disabled Persons, this Corporation is also providing Educational Loan in collaboration with six Apex Level Corporations (under three Union Ministries), to the meritorious students of target group families for pursuing higher studies in full time Technical and Professional courses in India and abroad.
Vice Chairperson elaborated that maximum Educational Loan limit for students belonging to Scheduled Castes, Backward Classes, Safai Karamcharis and Physically Disabled categories is rupees 10.00 lakhs for study in India and Rs.20.00 lakhs for studying abroad at the rate of interest 4% p.a. for male students and 3.5% for female students.
In respect of students belonging to Notified National Minorities maximum Educational Loan limit is Rs.20.00 lakhs for study in India and Rs.30.00 lakhs for abroad at the of interest 3% from the students having annual family income below Rs.1.20 Lakhs and 8% p.a. interest from the students having annual family income below Rs.6.00 lakhs.
As regards to the Educational Loan for student of Scheduled Tribes category, maximum limit of loan is Rs.5.00 lakh only for study in India at the interest rate of 6% p.a. Mohd Iqbal Kataria, Manager Projects, Anil Gupta, Manager Finance, Joginder Paul Atri, District Manager, Jammu and Babar Bashir, Accountant Divisional Office, Kashmir, were present in the press conference.

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