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State co-operative bank to give unsecured loans to jail inmates at 7pc interest: Maharashtra home minister
Updated On: 29 March, 2022 09:56 PM IST | Mumbai | PTI
There will be no need for a guarantor. It will be disbursed on personal bond. The bank will decide the amount based on earning, skill, daily wages. As many as 1,055 jail inmates are expected to benefit
Dilip Walse Patil. File Photo
The Maharashtra government has decided to offer personal loans of up to Rs 50,000 to prisoners against their earning from work done in jail, state home minister Dilip Walse Patil said on Tuesday.
These unsecured loans from the Maharashtra State Cooperative Bank will carry an interest rate of 7 per cent, he said, adding that it will start as a pilot project in Yerawada Central Jail in Pune.
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