By TwoCircles.net staff reporter
Erode (Tamil Nadu): The Tamil Nadu government has sanctioned Rs 1 crore as education loan exclusively for students from minority communities in the district of Erode.
According to Xavier Arulraj, Chairman of the Tamil Nadu Minorities Economic Development Corporation Ltd., the amount is for the current financial year.
Application forms for availing the loan is available at education institutions and in institutions of higher learning. The forms are available till August 31.
According to Arulraj, in Erode district the Corporation had financed 22 persons with Rs. 27 lakh for starting small business ventures and 10 persons with Rs. 9.5 lakh for purchase of auto rickshaw. The Corporation financed 58 students with Rs. 1.87 crore as education loan in the last financial year.
The corporation charged 6% interest on personal loans.
It has offered Rs. 25,000 for starting small business ventures and Rs 5 lakh with 4% interest for starting self-help groups.
As regards Muslim women, Mr. Arulraj said the corporation provided self employment training to poor and destitute women to help them make a living and also a monthly stipend.
Link:
http://www.tn.gov.in/bcmbcmw/default.htm