What is an educational certificate pledge loan? How to take it?

Banking Khabar / The government has announced that loan of up to Rs 25 lakhs for students who have completed bachelors, according to government through by budget. Although this is not a new announcement, the amount has been increased. Earlier, the KP Sharma Oli-led government had announced a loan of up to Rs 7 lakhs on the security of educational certificates. Now in the new budget, this amount has been increased to 25 lakhs. Finance Minister Bishnu Prasad Poudel has announced that in the budget of the Fiscal Year 2078/79. Now the interest rate will be 5 percent.This policy will be instrument after the NRB mentions it in the coming monetary policy. In a specific, Nepal Rastra Bank has put forward a plan to provide concessional loans by pledging educational certificates for the purpose of making the youth self-employed among various concessional loans. In this program, youths can pledge their educational certificates to become an entrepreneurs, this is a concessional loan. This interest rate is very low and it is also quite popular. But there is no speed in its implementation. What is the main reason? Banks has said that neither students nor stakeholders are active in this program me. However, there are many who want to get loan by pledging their educational certificates.Although, the process is a quite difficult. Even when it comes to getting a loan, there is still some hassle in banking. Still, bankers say that the number of people who say that they can get a loan instead of taking a loan for work after completing such a process is too high. The government provides 5 to 6 percent interest subsidy on such loans. Educational certificate collateral loan is one of the concessional loans. Therefore, youth is covered under self-employment loan.

What is required?

Educational Certificate Youth must be under 40 years of age and have at least a bachelor’s degree to obtain self-employment loan. In order to work, one must have at least seven days of enterprise and business skills training from any government sector which includes the Home and Small Industries Office and the Skill Development Training Center, Technical Education and Vocational Training Council. In order to get a loan, all detail proposal according the operation of the industry and the use of the loan should be submit. This is mentioned in the working procedure as a minimum related subject. Under this heading, the loan per ca-pita has been increased up to Rs.7 lakhs and Rs.25 lakhs has been announced in the new fiscal year. This loan is taken by pledging the educational certificate that has been obtained by you. According to NRB data, the number of taking loan is very low. It is very important in terms of policy but In terms of numbers, this number is very low.



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