The Chhattisgarh government has reduced the rate of interest on higher education loans given to youth in the State from four per cent to one per cent.

In line with the promise made by Chief Minister Raman Singh during the Assembly polls, the rate of interest on the higher education has been reduced to one per cent under the ’Mukhyamantri Uchcha Siksha Rinn Anudan Yojana’, Higher Education Minister Prem Prakash Pandey said today.

During Rajyotsava 2012, the CM had announced this scheme, under which loans upto ₹4 lakh would being given to youth at the rate of 4 per cent for pursuing higher studies.

Now youth can avail of this facility from nationalised and private banks at one per cent, he said.

Besides, students from the 16 naxal-affected districts of the State will get interest-free education loans under the scheme, he said.

In a circular, the Directorate of Technical Education has informed the principals and directors of engineering, pharmacy, management, master of computer applications and diploma courses colleges across the State about the amendment in the scheme, he said.

The concerned officials have been directed to give proper publicity to the new provisions under the scheme, he added.

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