Recently deposit-linked loan scheme has been started by Himachal Pradesh

Recently deposit-linked loan scheme has been started by Himachal Pradesh

Daily Current Affairs   /   Recently deposit-linked loan scheme has been started by Himachal Pradesh

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Category : National Published on: October 25 2023

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  • Deposit Linked Loan Scheme has been launched by the Government of Himachal Pradesh in October, 2023.
  • This scheme was launched by Himachal Pradesh Chief Minister Sukhwinder Singh Sukhu.
  • The objective of this scheme is to ensure financial inclusion of students in the age group of 10-18 years.
  • To provide financial assistance to them for higher education or start-up, entrepreneurship or livelihood activities on attaining the age of 18 years.
  • Early Savings Deposit Scheme is for all students of this age group.
  • Every year, the savings account balance will be transferred to the fixed deposit account and students will get interest on the fixed deposit.
  • Loan facility of five times the fixed deposit amount will be available to students after the age of 18 years till the age of 25 years.
  • The account of the beneficiaries will be opened in Himachal Pradesh State Cooperative Bank.
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