Jivhala Scheme : Maharashtra Govt
Jivhala scheme offers loans to Yerwada jail inmates in Maharashtra.
- 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