Patna: The Bihar government on Tuesday announced that interest-free loans will be provided to students who passed the class 12 board examinations under the Student Credit Card Scheme to help them pursue higher education.
Earlier, education loans of up to Rs 4 lakh were provided at an interest rate of 4 per cent to general male applicants, and 1 per cent to female, differently-abled, and transgender applicants.
“Now, the loan will be interest-free for all applicants,” Chief Minister Nitish Kumar said in a post on X.
“I am pleased to inform that under the 7 Nischay-2 initiative, the Cabinet has approved and sanctioned funds for the implementation of the ‘Chief Minister-Promotion of Readiness, Awareness and Technical Insights for Guiding Youth Advancement’ scheme to provide Bihar’s youth with advanced skills, better employability, leadership development, strong networking, and new opportunities for career enhancement. This scheme will prove useful for the youth in shaping their future,” said Nitish Kumar.
Key details of the scheme
- Under the scheme, trained youth who have passed Class 12 will receive Rs 4,000 per month.
- ITI or diploma holders will be given Rs 5,000 per month.
- Graduates or postgraduates undertaking internships will get Rs 6,000 per month.
- A total of one lakh youth from the state will be offered internships in various institutions during the period 2025-26 to 2030-31.
The move comes after the CM had recently announced a hike in social security pensions for the people of Bihar. The CM said that the pension under the Social Security Pension Scheme for the elderly, disabled and widowed women has been hiked to Rs 1,100 per month from Rs 400. “I am happy to inform you that under the Social Security Pension Scheme, all the elderly, disabled and widowed women will now get a pension of Rs. 1,100 instead of Rs. 400 every month. All the beneficiaries will get pension a ..
