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Banks to aid education to poor children

Under a noble scheme to help the school going children from weaker sections of society, Jharkhand state bankers committee on Monday announced that all the rural branches of the banks in the state would bear the educational expenses of one poor child in their area of operation from April one this year.

india Updated: Jan 17, 2006 12:22 IST

Under a noble scheme to help the school going children from weaker sections of society, Jharkhand state bankers committee on Monday announced that all the rural branches of the banks in the state would bear the educational expenses of one poor child in their area of operation from April one this year.

Addressing a press conference here, Allahabab Bank Chairman-cum- Managing Director O N Singh said the decision was taken on Monday at a high level meeting of the committee.

The meeting was also attended among others by state Chief Secretary P P Sharma, Regional Director of Reserve Bank of India and bank and financial institution officials. He said the scheme was on the line of a similar programme being run by SBI in Gujarat.

“The selection of the child will be done with the help of local panchayat. The financial help will be like an aid for a nobel cause and not a loan of any sort. All the nationalised banks will participate in this and we have also appealed to the private sector players to come forward for this scheme.

The other modalities of this scheme will be soon finalised,” he added. Singh said by the end of December an increase had been registered in the overall cash credit ratio in the state. Several measures were discussed to speed up the credit flow to agriculture and small scale industries sector.

First Published: Jan 17, 2006 12:22 IST