Union Home Minister P. Chidambaram has said that interest subsidy for educational loans will be available to the eligible candidates for the current academic year 2010—2011 also.
Speaking at a function organised at Vriddhachalam near here to give away educational loan on Saturday, Mr. Chidambaram said that the Centre had launched the interest subsidy scheme in 2009-2010 to help the candidates belonging to the economically weaker sections to take up higher education.
However, a debate was going on about the period of subsidy because it took time for the message to reach over one lakh bank branches across the country.
Hence, he made it clear that the interest subsidy would be available for the academic year 2010—2011 too, based on the eligibility criteria.
The aggrieved candidates, if any, could approach the Canara Bank for redress. Guaranteeing educational loan to all the eligible candidates Mr. Chidambaram called upon them to approach the banks with confidence.
for copy of interest subsidy on education loan's order please click the following link.
http://www.education.nic.in/uhe/IBA-Mumbai.pdf
Source: The Hindu dt 24.10.10
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