Himachal Pradesh Mukhyamantri Gyandeep Yojana

Mukhyamantri Gyandeep Yojana

The Himachal Pradesh Government has started the Mukhyamantri Gyandeep Yojana for the students who have successfully passed in 12th class. This scheme has been started after 1.5 years of its announcement in the Budget Announcement of CM.

Details of Mukhyamantri Gyandeep Yojana

Under Mukhyamantri Gyandeep Yojana, the 12thpass students will get four per cent interest on the education loan up to Rs. 1 lakh. Students can apply for loan in any nationalized bank branch.

The application form will be received from the bank branches and higher education directorate for the loan. Students will be given a loan upto a maximum of Rs. 10 lakhs for getting professional, technical and higher education under the scheme.

In order to avail the facility of the loan, it has been mandatory to study from a recognized institution located anywhere in the country. The loan will be collected after one year of completion of the course. UCO Bank has been made the nodal bank under the scheme.

In order to avail the loan facility, the eligible students can apply in any Nationalised Bank. The government will pay the interest subsidy to the banks. Other banks have to apply to UCO Bank. The UCO will send the case to the government through the bank.

The government will repay the banks twice a year i.e. in April and September. The bank will start the loan recovery process from the students after the end of the loan. Now banks are offering education loans at the interest rate of 10%. The exemption in interest will definitely provide relief to poor class students.

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Economically Poor Students will be Benefitted

According to BL Binta, the Director of Higher Education director, the Mukhyamantri Gyandeep Yojana will provide great relief to the weak and economically weaker students of Himachal origin. Eligible students can apply for a loan in any nationalized bank.

News Source: http://www.amarujala.com/shimla/mukhya-mantri-gyandeep-yojana-loan-scheme-in-himachal-pradesh

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