Rajeev Chandrasekhar's official website - Member of Parliament

GOVERNMENT OF INDIA
Ministry of Finance

RAJYA SABHA
UNSTARRED QUESTION NO. 1922
ANSWERED ON AUGUST 27, 2013

 QUESTION
Interest Subsidy Scheme on Educational Loan 
 

1922. SHRI RAJEEV CHANDRASEKHAR: 

Will the Minister of  FINANCE be pleased to state; 

(a)   whether Government has formulated an interest subsidy scheme applicable from academic year 2009-10, to provide full interest subsidy on educational loans to students whose parental/family income is less than Rs 4.5 lakhs per annum; 

(b)   if so, the details of the budgetary allocation made to the Credit Guarantee Fund for this purpose ; and

(c)    the number of students who have received such subsidy since the announcement of the scheme; year-wise and State-wise?

ANSWER
The MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI NAMO NARAIN MEENA)

(a) Yes Sir, under the Central Scheme to provide Interest Subsidy (CSIS), full interest subsidy is provided during the period of moratorium (course period plus one year or six months after getting the job, whichever is earlier) on education loans taken by students belonging to economically weaker sections from scheduled banks under the education loan scheme of Indian Banks Association for pursuing approved courses of studies in technical and professional streams from recognized institutions in India. The loan should be disbursed after 1st April, 2009 and the annual gross family income upper limit should be Rs. 4.5 lakh from all sources.

(b) For the financial year 2013-14, as per Ministry of Human Resource Development a budgetary provision of Rs 1100 crores has been allocated for CSIS on Education Loans. Out of this, an amount of Rs 500 crores has been set aside for the Credit Guarantee Fund.

(c) Canara Bank, the Nodal Bank for implementing the CSIS has informed that interest subsidy of Rs.2231.24 crores has been provided to 25.26 lakh students under the scheme up to 31.03.2012. State wise details are annexed.
Further Nodal Bank has informed that Member banks have lodged claims of Rs.560.11 crores for 3.88 lakh Students for FY 2012-13 up to 23.08.2013.

ANNEXURE

                                                           RAJYA SABHA QUESTION NO. 1922 dated 27.08.2013
                                                          STATE WISE EDUCATION LOAN SUBSIDY UNDER CSIS

 

Amt in Crore and No. of A/c in Lakh

State

2009-10

2010-11

2011-12

TOTAL

No.Acs

Net Subsidy claim in Rupees

No.Acs

Net Subsidy claim in Rupees

No.Acs

Net Subsidy claim in Rupees

Total No.Acs

Total Subsidy claim in Rupees

ANDAMAN & NICOBAR

0.02

0.63

0.01

0.66

0.00

0.37

0.02

1.66

ANDHRA PRADESH

0.45

19.27

0.52

40.45

0.46

58.10

1.43

117.82

ARUNACHAL PRADESH

0.00

0.08

0.00

0.37

0.00

0.31

0.01

0.76

ASSAM

0.02

1.55

0.03

4.00

0.03

5.70

0.08

11.25

BIHAR

0.22

15.06

0.26

33.30

0.35

61.12

0.83

109.48

CHANDIGARH

0.00

0.27

0.00

0.51

0.01

0.99

0.01

1.77

CH HATTISGARH

0.02

1.17

0.03

3.14

0.04

6.04

0.08

10.34

DADRA AND NAGER HAVELI

0.00

0.03

0.00

0.14

0.00

0.14

0.00

0.31

DAMAN & DIU

0.00

0.02

0.00

0.15

0.00

0.00

0.00

0.17

DELHI

0.01

0.83

0.02

2.06

0.02

3.11

0.04

6.00

GOA

0.00

0.28

0.01

0.57

0.00

0.90

0.01

1.75

GUJARAT

0.06

3.15

0.08

8.21

0.09

14.50

0.22

25.86

HARYANA

0.06

3.19

0.09

9.15

0.11

16.79

0.26

29.14

HIMACHAL PRADESH

0.03

1.32

0.04

3.69

0.04

6.61

0.11

11.61

JAMMU & KASHMIR

0.01

0.49

0.01

1.20

0.03

3.19

0.05

4.89

JHARKHAND

0.08

6.47

0.12

15.75

0.12

26.63

0.32

48.85

KARNATAKA

0.49

20.25

0.53

41.05

0.60

71.46

1.62

132.76

KERALA

1.17

46.69

1.73

144.04

2.07

274.18

4.97

464.91

LAKHSWADEEP

0.00

0.00

0.00

0.06

0.00

0.02

0.00

0.09

MADHYA PRADESH

0.18

8.37

0.25

22.83

0.24

33.45

0.67

64.65

MAHARASHTRA

0.26

13.53

0.35

28.89

0.41

49.21

1.02

91.63

MANIPUR

0.01

0.47

0.01

1.25

0.01

1.75

0.03

3.47

MEGHALAYA

0.00

0.23

0.00

0.53

0.00

0.87

0.01

1.63

MIZORAM

0.00

0.12

0.00

0.27

0.00

0.05

0.00

0.44

NAGALAND

0.00

0.03

0.00

0.09

0.00

0.08

0.00

0.20

No State Mentioned

0.04

2.16

0.06

4.74

0.11

10.70

0.21

17.60

ORISSA

0.20

12.30

0.24

29.65

0.26

47.72

0.69

89.67

PONDICHERRY

0.04

1.59

0.05

3.63

0.05

4.69

0.14

9.92

PUNJAB

0.02

1.28

0.03

4.48

0.04

5.95

0.09

11.70

RAJASTHAN

0.12

6.67

0.16

17.47

0.21

46.89

0.49

71.03

SIKKIM

0.00

0.03

0.00

0.05

0.00

0.06

0.00

0.14

TAMIL NADU

2.46

96.25

3.72

235.04

3.83

317.66

10.01

648.95

TRIPURA

0.00

0.22

0.01

0.66

0.01

1.31

0.02

2.18

UTTAR PRADESH

0.35

23.64

0.45

55.45

0.50

92.55

1.29

171.64

UTTARANCHAL

0.04

2.88

0.06

7.22

0.07

15.42

0.17

25.52

WEST BENGAL

0.10

6.43

0.13

14.65

0.12

20.37

0.34

41.45

Total Claim

6.44

296.88

8.98

735.33

9.84

1198.88

25.56

2231.24

Source: CANARA BANK {NODAL BANK)