TaxTMI 
TaxTMI 
Major Relief for Education Loan Borrowers, 9 Lakh Student Borrowers to Benefit
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....ajor Relief for Education Loan Borrowers, 9 Lakh Student Borrowers to Benefit <br>News and Press Release<br>Dated:- 17-2-2014<br><BR>The Union Finance Minister Shri P. Chidambaram has announced a Mora....
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....torium period for all education loans taken-up to 31.3.2009 and outstanding on 31.12.2013. Government will take over the liability for outstanding interest as on 31.12.2013, but the borrower would hav....
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....e to pay interest for the period after 1.1.2014. Nearly 9 lakh students borrowers will benefit to the tune of approximately Rs. 2,600 crore. Presenting the Interim Budget in the Lok Sabha today, the ....
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....Union Finance Minister Shri Chidambaram said that a sum of Rs. 2,600 crore will be provided in the current financial year itself and this amount will be transferred to the Canara Bank. Mr. P. Chidamba....
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....ram said that the Central scheme for interest subsidy was introduced in 2009-10 in respect of education loans disbursed after 1.4.2009. However, students who had borrowed before 31.3.2009 struggled to....
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.... pay interest during the period of study and they deserved some relief. Shri P. Chidambaram informed that ten years ago, only a few thousand students- mostly the well-connected- got education loans. ....
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....At the end of December 2013, Public Sector Banks had 25,70,254 student loan accounts and the amount outstanding was Rs. 57,700 crore.<BR> News - Press release - PIB....