Jivhala SchemeIn NewsJivhala scheme offers loans to
Yerwada jail inmates in Maharashtra.
About Jivhala scheme is a loan scheme named Jivhala launched by the Maharashtra Department of Prisons.
It is for the inmates who are serving sentences in various jails across Maharashtra.
The scheme, was implemented by the
Department of Prisons and Maharashtra State Cooperative Bank. It has been started in Pune’s
Yerawada Central Jail.
The credit scheme, named Jivhala, means
affection in Marathi.
It is primarily for inmates who are undergoing a prison sentence of more
than three years. In the initial phase of this scheme, a
Rs 50,000 loan will be given.
The interest rate that will be applicable is
7%.
Out of the interest that will be earned by the bank
, 1 per cent will be contributed by the bank to the prisoners’ welfare fund.
For issuing this loan
no guarantor or mortgage is required
