Maharashtra launches scheme to offer personal loans for prisoners
What is the news :
- Maharashtra government launched a scheme to provide personal loans for prisoners with the aim to improve the living standard of the families of the inmates.
- The Maharashtra State Co-operative Bank will give loans under the scheme up to Rs 50,000 at an interest rate of 7 per cent.
- The scheme will be implemented on a pilot basis at Yerawada Central Jail, Pune.
- Home minister of Maharashtra – Dilip Walse Patil.
About the scheme :
- It is the first innovative loan scheme in the country to get a loan based on the income earned while working in a prison.
- With this, a welfare scheme can come in concrete form and approximately 1,055 prisoners can benefit from the scheme. Many inmates are serving long-term imprisonment.