Major Relief for Education Loan Borrowers, 9 Lakh Student Borrowers to Benefit

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..... Major Relief for Education Loan Borrowers, 9 Lakh Student Borrowers to Benefit - News and Press Release Dated:- 17-2-2014 - News - 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. Chidamb .....

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..... aram 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 t .....

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..... o 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. - News - Press release - PIB Tax Management India - taxmanagem .....

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..... entindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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