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.
Arvind Kejriwal, the AAP supremo, unveiled the Dr Ambedkar Samman Scholarship, a scheme designed to…
The Indian Government has formed a high-level committee under Defence Secretary Rajesh Kumar Singh to…
National Farmers’ Day, celebrated annually on December 23, is a tribute to the backbone of…
Former Supreme Court Judge of India, Justice Madan B Lokur, has been appointed as the…
Gujarat, located in western India, is famous for its rich cultural heritage, historical landmarks and…
The Indian Space Research Organisation (ISRO) and the European Space Agency (ESA) have signed a…