Bihar State Education Finance Corporation

Question: Under the Student Credit Card Scheme, at which percentage of interest rate, loan will be available to students through the Bihar State Education Finance Corporation?
(a) 3 percent
(b) 4 percent
(c) 5 percent
(d) 2.5 percent
Answer: (b)
Related Facts:

  • On April 4th, 2018, Bihar Chief Minister Nitish Kumar inaugurated the Bihar State Education Finance Corporation in the Communication Room of the Chief Minister’s Secretariat.
  • In order to speed up the Student Credit Card Scheme, this corporation has been started by the State Government instead of banks, because there was considerable delay in sanctioning of the loan by the banks under this scheme.
  • Loan is provided to the students receiving higher education under this scheme.
  • In educational loan scheme from banks only students receiving technical education gets the benefits.
  • Student credit card scheme will be available to 12th pass students as well as loans to other students.
  • After passing the matriculation under this scheme, the students of polytechnic will also get the benefit.
  • Through this corporation loans will be provided at the rate of interest of only 4 percent.
  • Divyang, girl students and transgender will get loans at just 1 percent interest rate.

Reference:
https://timesofindia.indiatimes.com/city/patna/nitish-launches-corporation-for-education-loan-of-students/articleshow/63617741.cms

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