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MSCB to offer loans to 250 Yerawada jail inmates
PUNE In a first in the country, the Maharashtra State Cooperative Bank (MSCB) will start a loan scheme for prisoners from Yerawada jail wherein a total 250 prison inmates will get loans in the first phase after which the loan scheme will be extended to other prisons in the state
PUNE In a first in the country, the Maharashtra State Cooperative Bank (MSCB) will start a loan scheme for prisoners from Yerawada jail wherein a total 250 prison inmates will get loans in the first phase after which the loan scheme will be extended to other prisons in the state.
Maharashtra State Cooperative Bank chairman Vidyadhar Anaskar said, “MSCB will be the first bank in the country to give loans to inmates. The scheme will start in Yerawada jail on May 1 this year. Deputy chief minister Ajit Pawar and home minister Dilip Walse Patil will be present while giving loans to the inmates.” The programme will be held in Yerawada prison, Anaskar said.
“MSCB took this bold decision to start a loan scheme for prisoners. It is found that 70% inmates are not professional criminals but have committed crimes in the heat of the moment. But when they are in jail, their families suffer a lot. Considering that, we decided to give them loans of up to ₹50,000. Although the loans are in the inmates’ names, the amount will go to their family members and the inmates will repay the loans from within the jail,” Anaskar said.
“These prisoners work in prison and get money for their work. They will need to repay loans from these funds. A total 250 inmates have been identified and the loan process is underway. Even the prison authorities and banks are signing an agreement for the same,” Anaskar said.
