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The Central Bank of India has come out with concessions rate of Interest on educational loans under the cent Vidhayarthi Scheme. This move has been taken in view if the 125th birth anniversary of Sir Sorabji Pochwala, the founder of Central Bank of India.
The revised rate of interest shall be 10.50% for all educational loans. It has also allowed special concessions to students studying professional courses in IIT and IIM by allowing further reduction in rate of interest by 50 basis points at 10%
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Source
dh
Date
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Information
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The Union Finance Minister said on Friday that in two or three years time banks should make education loans available to everybody aspiring to take up higher education. This he said was essential because India had the best man-power in the world.
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Instead of subsidies, restructure portfolios for a higher EPF return
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