KOLKATA: West Bengal Chief Minister Mamata Banerjee on Wednesday launched the 'Student Credit Card' scheme, under which pupils will get soft loans of up to Rs 10 lakh for higher studies.
Banerjee's cabinet had last week approved the scheme, which was promised in the TMC's manifesto for the recently concluded assembly elections in the state.
"I am delighted to announce that the Government of West Bengal has launched the Student Credit Card scheme today.
To make the youth of the state self-reliant, soft loans of up to Rs 10 lakh will be provided to them with an annual simple interest," she said during the launch of the programme at the state secretariat Nabanna.
"Anybody who has spent 10 years in West Bengal and is within the age limit of 40 years can avail the loan which will be available for undergraduate, postgraduate, doctoral and post-doctoral study in India or abroad," Banerjee said.
Students will be given 15 years to repay the loan, she added.