A loan scheme named Jivhala has been launched by the Maharashtra Department of Prisons for the inmates who are serving sentences in various jails across Maharashtra. The scheme, implemented by the Department of Prisons and Maharashtra State Cooperative Bank, has been started in Pune’s Yerawada Central Jail. Bank and prison officials believe the credit scheme could be the first of its kind in India for inmates who are still serving their sentences.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The credit scheme, named Jivhala, which means affection in Marathi, is primarily for inmates who are undergoing a prison sentence of more than three years. In the initial phase of this scheme, a Rs 50,000 loan will be given. The interest rate that will be applicable is 7%. Out of the interest that will be earned by the bank, 1 per cent will be contributed by the bank to the prisoners’ welfare fund. For issuing this loan no guarantor or mortgage is required.
Many cities in Europe are known for their beauty, history and culture. However, one city…
Tripura, a beautiful state in northeastern India, has a growing railway network that connects it…
The Union Cabinet on 12th December, 2025 has approved a major update to India’s largest…
There is a beautiful hill station in the Kumaon region of Uttarakhand, India, known for…
Some countries are famous for their mountains, deserts or forests, while others are known for…
The Union Cabinet Committee on Economic Affairs has approved a major new policy called CoalSETU…