Government sponsored schemes should education upto secondary level be a fundamental right

Canara Bank is the front-runner in implementing various Government Sponsored Schemes aimed to uplift poor, educated un-employed / under-employed people in rural / semi-urban / urban areas by providing financial assistance to set up self-employment ventures with the help of various government authorities / agencies.

The Hon’ble Finance Minister in his budget speech for 2013-14 proposed to provide interest subvention to women SHGs who avail loans up to Rs.3 lakhs at 7% per annum. level of education meaning The women SHGs will get an additional subvention of 3% if they repay in time, reducing the effective rate of interest to 4%.

• This Scheme is launched by Ministry of Rural Development (MoRD), Government of India in June 2013. certificate of higher education level 4 Aided in part through investment support by World Bank, the mission aims at creating efficient and effective institutional platforms of the rural poor enabling them to increase household income through sustainable livelihood enhancements and improved access to financial services.

Government of India has launched the “Prime Minister’s New 15-Point Programme for the Welfare of Minorities” in order to smoothen credit flow to Minority Communities, all Public Sector Banks (PSBs) were advised to maintain a level of 15% credit flow to Minority Communities out of their actual Priority Sector Lending (PSL) (excluding excluding RIDF and other eligible funds).

Our Bank had drawn a road map during the year 2009 and steadily increased the credit flow to Specified Minority communities. earning potential by education level The lending percentage as at March 2018 level is 18% of the actual Priority Sector which is well above the mandatory level of 15%

• A nodal executive is designated at Head Office to monitor the credit flow to minority communities. Officers in 6 lead districts of minority concentrated districts are designated as nodal officer of the minority cell to monitor the credit flow to minority community concentrated in the respective district.

Bank has also initiated several pro-active steps viz., skill trainings, EDP programs and credit campaigns exclusively targeting the minority communities etc for the development and empowerment of the Minority Communities in Minority concentrated Lead districts (MCD).

• In education loan sanction process where the admission is purely based on the marks scored in qualifying examination, the cut-off marks of 60 % is stipulated for all students as per IBA Model Scheme .However, in our bank we have reduced the cut-off marks to 50% for students belonging to SC/ST category, so as to motivate /encourage students to pursue higher education.

• Every year, our Bank is celebrating the month of ‘April and October as SC/ST Month’ with a view to organize special credit campaigns in order to encourage maximum number of SC/ST borrowers to avail various credit facilities extended by the Bank, including education loans under Differential Rate of Interest (DRI) category to SC/ST students., where loans are charged @ 4% rate of interest subject to eligibility.

• In addition to the above, our bank has launched a scheme for extending scholarship to SC/ST girl students of 5th to 10th class from rural area and named as "Canara Vidya Jyothi Scheme" as a Corporate Social Responsibility (CSR) Initiative.

-Meritorious girl students of SC/ST category from Government/Government aided schools are extended with the scholarship. education level chart For class 5th to 7th, an amount of Rs.2500 / each & for class 8th to 10th, an amount of Rs. 5000/each is provided as scholarship.