Guwahati: Assam State Finance Minister Himanta Biswa Sarma attended the ceremonial launch of 'Abhinandan', an education loan subsidy scheme that will provide a one-time subsidy of Rs. 50,000 in loan to 1546 students.
Sarma informed that 5,000 students in Assam are currently pursuing higher studies in the state. The loan will benefit 1500 students in the first batch and 3000 students will earn benefit in the second batch.
The first batch will receive the sanctioned amount by 4 pm on Friday.
The aim of the scheme is to provide a loan waiver to students of Assam who have availed education loans.
Geared towards permanent residents of the state, those benefiting from the scheme should have taken loans of a minimum of 1 lakh. The loan should have been sanctioned before March 31, 2019.
Also, the government has established no minimum income criterion for students to avail of the benefits of this scheme.
The scheme will be available through all commercial banks like the Federal Bank and HDFC and also the regional rural banks like Assam Gramin Vikash Bank within Assam.
Through the Abhinandan Education Loan Scheme, the Assam govt aims to bolster its education infrastructure and urge more students to pursue higher education.