Jharkhand eases bank loan for higher education of tribals

To ensure a hassle-free bank loan for tribal children willing to pursue higher education, the Jharkhand government today agreed to take security guarantee for such processes.
Chief Minister Raghubar Das, who chaired a high-level meeting held in the Secretariat today, approved a proposal in this regard tabled in the meeting.
It was proposed that the state government should take the security guarantee of tribal children seeking loan for higher education after generating a fund for it, which has been approved by Das, an official release said here.
Currently, Rs 7.50 lakh loan was being provided without guarantee but the banks asked for security guarantee for additional loan.

It was decided to generate fund of Rs 50 crore in the name of Mukhyamantri Higher Education Fellowship Yojna which would be utilised in case of loan default, it said.
This would benefit not only the Schedule Tribes but also the Schedule Castes and Other Backward Class (OBC) candidates.