Subsidy to Educational Institutions

The Government of India has launched a scheme to provide full interest subsidy during the period of moratorium i.e., Course Period plus one year or six months after getting job, whichever is earlier, on loans taken by students belonging to Economically Weaker Sections from scheduled banks under the Educational Loan scheme of the Indian Banks’ Association, for pursuing any of the approved courses of studies in technical and professional streams, from recognised institutions in India. The scheme is adopted by our Bank and would be applicable only for studies in recognized Technical/Professional Courses in India. The interest subsidy shall be linked with the existing educational loan scheme of IBA and restricted to students enrolled in recognized Technical/Professional Courses (after Class XII) in India in Educational Institutions established by Acts of Parliament, other institutions recognized by the concerned Statutory Bodies, Indian Institutes of Management (IIMs) and other institutions set up by the Central /State Government.

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