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Personal loans to prisoners
April 5 , 2022
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- The Maharashtra government has introduced a scheme that allows prisoners to obtain personal loans from banks.
- This is to help their families improve their living conditions and meet expenses related to their legal matters.
- It will be a first-of-its-kind initiative in our country.
- The Maharashtra State Co-operative Bank would provide loans up to 50,000 under the scheme at a 7% interest rate.
- This type of loan is called a “khavti” loan.
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