‘Abhinandan’- Education Loan Subsidy Scheme launched by Assam Government

December 26: The ‘Abhinandan’- Education Loan Subsidy Scheme was formally launched by the Government of Assam on Thursday. Theprogramme held at the Srimanta Sankardeva International auditorium was attended by Assam Chief Minister Sarbananda Sonowal, Finance Minister Himanta Biswa Sarma, Education Minister Siddhartha Bhattacharya, several senior officials of the State Finance Department, senior officials of executing financial institutions like SBI were also present in the function. The scheme was announced by Finance Minister Himanta Biswa Sarma in the 2019-20 State Budget.

As per the ‘Abhinandan’ scheme, Government of Assam will deposit Rs 50,000 in all existing education loan accounts sanctioned up to March 31, 2019, as a one-time support to the students and parents. The scheme will cover all students who are permanent residents of Assam and have availed loans from scheduled commercial banks, regional banks, Assam Cooperative Apex Bank, notified and recognized by Reserve Bank of India. The minimum education loan sanctioned to avail the benefits under the ‘Abhinandan’ scheme shall be Rs 1 lakh.

Ceremonial distribution of sanction letters under ABHINANDAN scheme. Watch Live… https://t.co/P1l343Cb6T

— Chief Minister Assam (@CMOfficeAssam) December 26, 2019

Sanction letters were distributed among 1,546 applicants in the first batch on Thursday. However, in case of such loans, the subsidy will be provided only after 25% of the total sanctioned loan amount has been disbursed. Through the Abhinandan Education Loan Scheme, the Assam govt aims to bolster its education infrastructure and urge more students to pursue higher education.

Interested applicants who want to apply for the above loan subsidies have to visit the website https://finance.assam.gov.in, click on the loan subsidy link and fill the online application form along with uploading the necessary documents. Once the application is approved, the subsidy amount will directly be deposited into the education loan account.