Students To Get Loans At Low Interest Rate

Thursday, 04 September, 2008

Students in polytechnics and degree and professional colleges will now get educational loans at 6 per cent rate of interest from nationalized and cooperative banks.

Minister for Rural Development and Panchayat Raj Shobha Karandlaje told presspersons after the State Cabinet meeting on Thursday that the facility would be provided with retrospective effect from August 1, 2008. The Cabinet fixed the ceiling for loans at Rs. 5 lakh.

The Cabinet also decided to bring down the rate of interest on loans taken by members of nearly 2.5 lakh Stree Shakti self-help groups in the State from 12 per cent to 6 per cent. The new rate of interest would be applicable to loans ranging between Rs. 25,000 and Rs. 1 lakh, she said.

The Cabinet gave its approval to provide a support price of Rs. 2 a litre for milk supplied to cooperative milk societies, starting from September 9. The support price will be credited to the bank account of any women member of the family.

The Cabinet decided to shift the race course from Bangalore to the outskirts of the city. However, no deadline has been set.

To mark the completion of 100 days in office, the Government has decided to hold special programmes at all district headquarter cities on September 9. The list of beneficiaries of various schemes will be announced at these programmes, which will be attended by the respective district in-charge Ministers.

Source: http://www.hindu.com/