Punjab to extend cheap education loan to Backward Class girls

Punjab government through BACKFINCO would now provide education loan to the girls belonging to the backward classes at 3.5 per cent interest rate.
Giving details of the scheme, the Chairman of BACKFINCO (Backward Classes Land Development and Finance Corporation), Om Parkash Kamboj said here today that it aimed at providing an opportunity to the girls of Backward Classes to get higher education with a view to raise their socio-academic status.
Kamboj also said that those girl students are eligible to apply for the education loan who are residents of Punjab and also a member of the Backward classes as identified by the Punjab government.

He further said that the concerned district Field Officer of BACKFINCO have been instructed to forward the case of the eligible girl students to the Corporation's office so as to complete the formalities in time.
A loan of Rs 10 lakh for imparting training in technical and professional course will be given whereas Rs 20 Lakh loan will be be provided to the students for imparting such training overseas, he said, according to an official release here.