Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
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</span></span></code>
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An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.&lt;br /&gt;
&lt;br /&gt;
The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.&lt;br /&gt;
&lt;br /&gt;
The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.&lt;br /&gt;
&lt;br /&gt;
An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &amp;ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank​ out of the total budget of Rs.500 crore.&amp;rdquo; Mint has reviewed a copy of the document.&lt;br /&gt;
&lt;br /&gt;
Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&amp;rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.&lt;br /&gt;
&lt;br /&gt;
The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.&lt;br /&gt;
&lt;br /&gt;
A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &amp;ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&amp;rdquo; the official said, requesting anonymity. He refused to name the states.&lt;br /&gt;
&lt;br /&gt;
The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &amp;ldquo;risky&amp;rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &amp;ldquo;hopes to see a better result by the end of this year&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.&lt;br /&gt;
&lt;br /&gt;
Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &amp;ldquo;Many don&amp;rsquo;t know how to avail (of the loans),&amp;rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &amp;ldquo;I need to check it.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
A Central Bank of India​ official said many states are yet to notify a designate authority for issuing the income certificate. &amp;ldquo;It&amp;rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&amp;rdquo; he said, requesting anonymity as he is not authorised to speak to media.&lt;br /&gt;
&lt;br /&gt;
A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &amp;ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&amp;rdquo;, he said. &amp;ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&amp;rdquo;, he added.&lt;br /&gt;
&lt;br /&gt;
A finance ministry official said his ministry has asked &amp;ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&amp;rdquo;.
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An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.

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	&#039;disp&#039; =&gt; &#039;&lt;br /&gt;&lt;div align=&quot;justify&quot;&gt;An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.&lt;br /&gt;&lt;br /&gt;The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.&lt;br /&gt;&lt;br /&gt;The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.&lt;br /&gt;&lt;br /&gt;An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &amp;ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank out of the total budget of Rs.500 crore.&amp;rdquo; Mint has reviewed a copy of the document.&lt;br /&gt;&lt;br /&gt;Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&amp;rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.&lt;br /&gt;&lt;br /&gt;The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.&lt;br /&gt;&lt;br /&gt;A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &amp;ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&amp;rdquo; the official said, requesting anonymity. He refused to name the states.&lt;br /&gt;&lt;br /&gt;The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &amp;ldquo;risky&amp;rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &amp;ldquo;hopes to see a better result by the end of this year&amp;rdquo;.&lt;br /&gt;&lt;br /&gt;India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.&lt;br /&gt;&lt;br /&gt;Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &amp;ldquo;Many don&amp;rsquo;t know how to avail (of the loans),&amp;rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &amp;ldquo;I need to check it.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;A Central Bank of India official said many states are yet to notify a designate authority for issuing the income certificate. &amp;ldquo;It&amp;rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&amp;rdquo; he said, requesting anonymity as he is not authorised to speak to media.&lt;br /&gt;&lt;br /&gt;A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &amp;ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&amp;rdquo;, he said. &amp;ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&amp;rdquo;, he added.&lt;br /&gt;&lt;br /&gt;A finance ministry official said his ministry has asked &amp;ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&amp;rdquo;.&lt;/div&gt;&#039;,
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An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.&lt;br /&gt;
&lt;br /&gt;
The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.&lt;br /&gt;
&lt;br /&gt;
The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.&lt;br /&gt;
&lt;br /&gt;
An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &amp;ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank​ out of the total budget of Rs.500 crore.&amp;rdquo; Mint has reviewed a copy of the document.&lt;br /&gt;
&lt;br /&gt;
Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&amp;rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.&lt;br /&gt;
&lt;br /&gt;
The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.&lt;br /&gt;
&lt;br /&gt;
A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &amp;ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&amp;rdquo; the official said, requesting anonymity. He refused to name the states.&lt;br /&gt;
&lt;br /&gt;
The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &amp;ldquo;risky&amp;rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &amp;ldquo;hopes to see a better result by the end of this year&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.&lt;br /&gt;
&lt;br /&gt;
Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &amp;ldquo;Many don&amp;rsquo;t know how to avail (of the loans),&amp;rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &amp;ldquo;I need to check it.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
A Central Bank of India​ official said many states are yet to notify a designate authority for issuing the income certificate. &amp;ldquo;It&amp;rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&amp;rdquo; he said, requesting anonymity as he is not authorised to speak to media.&lt;br /&gt;
&lt;br /&gt;
A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &amp;ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&amp;rdquo;, he said. &amp;ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&amp;rdquo;, he added.&lt;br /&gt;
&lt;br /&gt;
A finance ministry official said his ministry has asked &amp;ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&amp;rdquo;.
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An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.

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$disp = &#039;&lt;br /&gt;&lt;div align=&quot;justify&quot;&gt;An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.&lt;br /&gt;&lt;br /&gt;The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.&lt;br /&gt;&lt;br /&gt;The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.&lt;br /&gt;&lt;br /&gt;An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &amp;ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank out of the total budget of Rs.500 crore.&amp;rdquo; Mint has reviewed a copy of the document.&lt;br /&gt;&lt;br /&gt;Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&amp;rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.&lt;br /&gt;&lt;br /&gt;The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.&lt;br /&gt;&lt;br /&gt;A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &amp;ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&amp;rdquo; the official said, requesting anonymity. He refused to name the states.&lt;br /&gt;&lt;br /&gt;The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &amp;ldquo;risky&amp;rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &amp;ldquo;hopes to see a better result by the end of this year&amp;rdquo;.&lt;br /&gt;&lt;br /&gt;India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.&lt;br /&gt;&lt;br /&gt;Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &amp;ldquo;Many don&amp;rsquo;t know how to avail (of the loans),&amp;rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &amp;ldquo;I need to check it.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;A Central Bank of India official said many states are yet to notify a designate authority for issuing the income certificate. &amp;ldquo;It&amp;rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&amp;rdquo; he said, requesting anonymity as he is not authorised to speak to media.&lt;br /&gt;&lt;br /&gt;A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &amp;ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&amp;rdquo;, he said. &amp;ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&amp;rdquo;, he added.&lt;br /&gt;&lt;br /&gt;A finance ministry official said his ministry has asked &amp;ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&amp;rdquo;.&lt;/div&gt;&#039;
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                <strong>Education subsidy plan misses target by Prashant K Nanda &amp; Remya Nair</strong></h1>
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                <br /><div align="justify">An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.<br /><br />The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.<br /><br />The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.<br /><br />An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank out of the total budget of Rs.500 crore.&rdquo; Mint has reviewed a copy of the document.<br /><br />Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.<br /><br />The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.<br /><br />A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&rdquo; the official said, requesting anonymity. He refused to name the states.<br /><br />The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &ldquo;risky&rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &ldquo;hopes to see a better result by the end of this year&rdquo;.<br /><br />India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.<br /><br />Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &ldquo;Many don&rsquo;t know how to avail (of the loans),&rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &ldquo;I need to check it.&rdquo;<br /><br />A Central Bank of India official said many states are yet to notify a designate authority for issuing the income certificate. &ldquo;It&rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&rdquo; he said, requesting anonymity as he is not authorised to speak to media.<br /><br />A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&rdquo;, he said. &ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&rdquo;, he added.<br /><br />A finance ministry official said his ministry has asked &ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&rdquo;.</div>               </font>
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An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.&lt;br /&gt;
&lt;br /&gt;
The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.&lt;br /&gt;
&lt;br /&gt;
The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.&lt;br /&gt;
&lt;br /&gt;
An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &amp;ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank​ out of the total budget of Rs.500 crore.&amp;rdquo; Mint has reviewed a copy of the document.&lt;br /&gt;
&lt;br /&gt;
Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&amp;rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.&lt;br /&gt;
&lt;br /&gt;
The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.&lt;br /&gt;
&lt;br /&gt;
A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &amp;ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&amp;rdquo; the official said, requesting anonymity. He refused to name the states.&lt;br /&gt;
&lt;br /&gt;
The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &amp;ldquo;risky&amp;rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &amp;ldquo;hopes to see a better result by the end of this year&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.&lt;br /&gt;
&lt;br /&gt;
Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &amp;ldquo;Many don&amp;rsquo;t know how to avail (of the loans),&amp;rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &amp;ldquo;I need to check it.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
A Central Bank of India​ official said many states are yet to notify a designate authority for issuing the income certificate. &amp;ldquo;It&amp;rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&amp;rdquo; he said, requesting anonymity as he is not authorised to speak to media.&lt;br /&gt;
&lt;br /&gt;
A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &amp;ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&amp;rdquo;, he said. &amp;ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&amp;rdquo;, he added.&lt;br /&gt;
&lt;br /&gt;
A finance ministry official said his ministry has asked &amp;ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&amp;rdquo;.
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An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.

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	&#039;disp&#039; =&gt; &#039;&lt;br /&gt;&lt;div align=&quot;justify&quot;&gt;An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.&lt;br /&gt;&lt;br /&gt;The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.&lt;br /&gt;&lt;br /&gt;The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.&lt;br /&gt;&lt;br /&gt;An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &amp;ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank out of the total budget of Rs.500 crore.&amp;rdquo; Mint has reviewed a copy of the document.&lt;br /&gt;&lt;br /&gt;Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&amp;rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.&lt;br /&gt;&lt;br /&gt;The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.&lt;br /&gt;&lt;br /&gt;A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &amp;ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&amp;rdquo; the official said, requesting anonymity. He refused to name the states.&lt;br /&gt;&lt;br /&gt;The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &amp;ldquo;risky&amp;rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &amp;ldquo;hopes to see a better result by the end of this year&amp;rdquo;.&lt;br /&gt;&lt;br /&gt;India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.&lt;br /&gt;&lt;br /&gt;Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &amp;ldquo;Many don&amp;rsquo;t know how to avail (of the loans),&amp;rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &amp;ldquo;I need to check it.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;A Central Bank of India official said many states are yet to notify a designate authority for issuing the income certificate. &amp;ldquo;It&amp;rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&amp;rdquo; he said, requesting anonymity as he is not authorised to speak to media.&lt;br /&gt;&lt;br /&gt;A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &amp;ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&amp;rdquo;, he said. &amp;ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&amp;rdquo;, he added.&lt;br /&gt;&lt;br /&gt;A finance ministry official said his ministry has asked &amp;ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&amp;rdquo;.&lt;/div&gt;&#039;,
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An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.&lt;br /&gt;
&lt;br /&gt;
The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.&lt;br /&gt;
&lt;br /&gt;
The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.&lt;br /&gt;
&lt;br /&gt;
An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &amp;ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank​ out of the total budget of Rs.500 crore.&amp;rdquo; Mint has reviewed a copy of the document.&lt;br /&gt;
&lt;br /&gt;
Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&amp;rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.&lt;br /&gt;
&lt;br /&gt;
The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.&lt;br /&gt;
&lt;br /&gt;
A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &amp;ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&amp;rdquo; the official said, requesting anonymity. He refused to name the states.&lt;br /&gt;
&lt;br /&gt;
The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &amp;ldquo;risky&amp;rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &amp;ldquo;hopes to see a better result by the end of this year&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.&lt;br /&gt;
&lt;br /&gt;
Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &amp;ldquo;Many don&amp;rsquo;t know how to avail (of the loans),&amp;rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &amp;ldquo;I need to check it.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
A Central Bank of India​ official said many states are yet to notify a designate authority for issuing the income certificate. &amp;ldquo;It&amp;rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&amp;rdquo; he said, requesting anonymity as he is not authorised to speak to media.&lt;br /&gt;
&lt;br /&gt;
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$disp = &#039;&lt;br /&gt;&lt;div align=&quot;justify&quot;&gt;An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.&lt;br /&gt;&lt;br /&gt;The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.&lt;br /&gt;&lt;br /&gt;The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.&lt;br /&gt;&lt;br /&gt;An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &amp;ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank out of the total budget of Rs.500 crore.&amp;rdquo; Mint has reviewed a copy of the document.&lt;br /&gt;&lt;br /&gt;Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&amp;rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.&lt;br /&gt;&lt;br /&gt;The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.&lt;br /&gt;&lt;br /&gt;A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &amp;ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&amp;rdquo; the official said, requesting anonymity. He refused to name the states.&lt;br /&gt;&lt;br /&gt;The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &amp;ldquo;risky&amp;rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &amp;ldquo;hopes to see a better result by the end of this year&amp;rdquo;.&lt;br /&gt;&lt;br /&gt;India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.&lt;br /&gt;&lt;br /&gt;Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &amp;ldquo;Many don&amp;rsquo;t know how to avail (of the loans),&amp;rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &amp;ldquo;I need to check it.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;A Central Bank of India official said many states are yet to notify a designate authority for issuing the income certificate. &amp;ldquo;It&amp;rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&amp;rdquo; he said, requesting anonymity as he is not authorised to speak to media.&lt;br /&gt;&lt;br /&gt;A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &amp;ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&amp;rdquo;, he said. &amp;ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&amp;rdquo;, he added.&lt;br /&gt;&lt;br /&gt;A finance ministry official said his ministry has asked &amp;ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&amp;rdquo;.&lt;/div&gt;&#039;
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An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.

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                <strong>Education subsidy plan misses target by Prashant K Nanda &amp; Remya Nair</strong></h1>
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                <br /><div align="justify">An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.<br /><br />The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.<br /><br />The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.<br /><br />An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank out of the total budget of Rs.500 crore.&rdquo; Mint has reviewed a copy of the document.<br /><br />Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.<br /><br />The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.<br /><br />A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&rdquo; the official said, requesting anonymity. He refused to name the states.<br /><br />The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &ldquo;risky&rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &ldquo;hopes to see a better result by the end of this year&rdquo;.<br /><br />India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.<br /><br />Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &ldquo;Many don&rsquo;t know how to avail (of the loans),&rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &ldquo;I need to check it.&rdquo;<br /><br />A Central Bank of India official said many states are yet to notify a designate authority for issuing the income certificate. &ldquo;It&rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&rdquo; he said, requesting anonymity as he is not authorised to speak to media.<br /><br />A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&rdquo;, he said. &ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&rdquo;, he added.<br /><br />A finance ministry official said his ministry has asked &ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&rdquo;.</div>               </font>
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An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.&lt;br /&gt;
&lt;br /&gt;
The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.&lt;br /&gt;
&lt;br /&gt;
The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.&lt;br /&gt;
&lt;br /&gt;
An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &amp;ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank​ out of the total budget of Rs.500 crore.&amp;rdquo; Mint has reviewed a copy of the document.&lt;br /&gt;
&lt;br /&gt;
Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&amp;rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.&lt;br /&gt;
&lt;br /&gt;
The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.&lt;br /&gt;
&lt;br /&gt;
A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &amp;ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&amp;rdquo; the official said, requesting anonymity. He refused to name the states.&lt;br /&gt;
&lt;br /&gt;
The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &amp;ldquo;risky&amp;rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &amp;ldquo;hopes to see a better result by the end of this year&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.&lt;br /&gt;
&lt;br /&gt;
Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &amp;ldquo;Many don&amp;rsquo;t know how to avail (of the loans),&amp;rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &amp;ldquo;I need to check it.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
A Central Bank of India​ official said many states are yet to notify a designate authority for issuing the income certificate. &amp;ldquo;It&amp;rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&amp;rdquo; he said, requesting anonymity as he is not authorised to speak to media.&lt;br /&gt;
&lt;br /&gt;
A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &amp;ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&amp;rdquo;, he said. &amp;ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&amp;rdquo;, he added.&lt;br /&gt;
&lt;br /&gt;
A finance ministry official said his ministry has asked &amp;ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&amp;rdquo;.
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An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.

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	&#039;disp&#039; =&gt; &#039;&lt;br /&gt;&lt;div align=&quot;justify&quot;&gt;An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.&lt;br /&gt;&lt;br /&gt;The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.&lt;br /&gt;&lt;br /&gt;The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.&lt;br /&gt;&lt;br /&gt;An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &amp;ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank out of the total budget of Rs.500 crore.&amp;rdquo; Mint has reviewed a copy of the document.&lt;br /&gt;&lt;br /&gt;Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&amp;rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.&lt;br /&gt;&lt;br /&gt;The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.&lt;br /&gt;&lt;br /&gt;A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &amp;ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&amp;rdquo; the official said, requesting anonymity. He refused to name the states.&lt;br /&gt;&lt;br /&gt;The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &amp;ldquo;risky&amp;rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &amp;ldquo;hopes to see a better result by the end of this year&amp;rdquo;.&lt;br /&gt;&lt;br /&gt;India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.&lt;br /&gt;&lt;br /&gt;Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &amp;ldquo;Many don&amp;rsquo;t know how to avail (of the loans),&amp;rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &amp;ldquo;I need to check it.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;A Central Bank of India official said many states are yet to notify a designate authority for issuing the income certificate. &amp;ldquo;It&amp;rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&amp;rdquo; he said, requesting anonymity as he is not authorised to speak to media.&lt;br /&gt;&lt;br /&gt;A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &amp;ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&amp;rdquo;, he said. &amp;ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&amp;rdquo;, he added.&lt;br /&gt;&lt;br /&gt;A finance ministry official said his ministry has asked &amp;ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&amp;rdquo;.&lt;/div&gt;&#039;,
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An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.&lt;br /&gt;
&lt;br /&gt;
The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.&lt;br /&gt;
&lt;br /&gt;
The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.&lt;br /&gt;
&lt;br /&gt;
An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &amp;ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank​ out of the total budget of Rs.500 crore.&amp;rdquo; Mint has reviewed a copy of the document.&lt;br /&gt;
&lt;br /&gt;
Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&amp;rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.&lt;br /&gt;
&lt;br /&gt;
The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.&lt;br /&gt;
&lt;br /&gt;
A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &amp;ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&amp;rdquo; the official said, requesting anonymity. He refused to name the states.&lt;br /&gt;
&lt;br /&gt;
The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &amp;ldquo;risky&amp;rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &amp;ldquo;hopes to see a better result by the end of this year&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.&lt;br /&gt;
&lt;br /&gt;
Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &amp;ldquo;Many don&amp;rsquo;t know how to avail (of the loans),&amp;rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &amp;ldquo;I need to check it.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
A Central Bank of India​ official said many states are yet to notify a designate authority for issuing the income certificate. &amp;ldquo;It&amp;rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&amp;rdquo; he said, requesting anonymity as he is not authorised to speak to media.&lt;br /&gt;
&lt;br /&gt;
A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &amp;ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&amp;rdquo;, he said. &amp;ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&amp;rdquo;, he added.&lt;br /&gt;
&lt;br /&gt;
A finance ministry official said his ministry has asked &amp;ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&amp;rdquo;.
&lt;/div&gt;&#039;,
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An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.

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$disp = &#039;&lt;br /&gt;&lt;div align=&quot;justify&quot;&gt;An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.&lt;br /&gt;&lt;br /&gt;The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.&lt;br /&gt;&lt;br /&gt;The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.&lt;br /&gt;&lt;br /&gt;An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &amp;ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank out of the total budget of Rs.500 crore.&amp;rdquo; Mint has reviewed a copy of the document.&lt;br /&gt;&lt;br /&gt;Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&amp;rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.&lt;br /&gt;&lt;br /&gt;The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.&lt;br /&gt;&lt;br /&gt;A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &amp;ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&amp;rdquo; the official said, requesting anonymity. He refused to name the states.&lt;br /&gt;&lt;br /&gt;The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &amp;ldquo;risky&amp;rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &amp;ldquo;hopes to see a better result by the end of this year&amp;rdquo;.&lt;br /&gt;&lt;br /&gt;India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.&lt;br /&gt;&lt;br /&gt;Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &amp;ldquo;Many don&amp;rsquo;t know how to avail (of the loans),&amp;rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &amp;ldquo;I need to check it.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;A Central Bank of India official said many states are yet to notify a designate authority for issuing the income certificate. &amp;ldquo;It&amp;rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&amp;rdquo; he said, requesting anonymity as he is not authorised to speak to media.&lt;br /&gt;&lt;br /&gt;A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &amp;ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&amp;rdquo;, he said. &amp;ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&amp;rdquo;, he added.&lt;br /&gt;&lt;br /&gt;A finance ministry official said his ministry has asked &amp;ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&amp;rdquo;.&lt;/div&gt;&#039;
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                <strong>Education subsidy plan misses target by Prashant K Nanda &amp; Remya Nair</strong></h1>
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                <br /><div align="justify">An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.<br /><br />The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.<br /><br />The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.<br /><br />An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank out of the total budget of Rs.500 crore.&rdquo; Mint has reviewed a copy of the document.<br /><br />Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.<br /><br />The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.<br /><br />A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&rdquo; the official said, requesting anonymity. He refused to name the states.<br /><br />The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &ldquo;risky&rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &ldquo;hopes to see a better result by the end of this year&rdquo;.<br /><br />India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.<br /><br />Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &ldquo;Many don&rsquo;t know how to avail (of the loans),&rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &ldquo;I need to check it.&rdquo;<br /><br />A Central Bank of India official said many states are yet to notify a designate authority for issuing the income certificate. &ldquo;It&rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&rdquo; he said, requesting anonymity as he is not authorised to speak to media.<br /><br />A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&rdquo;, he said. &ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&rdquo;, he added.<br /><br />A finance ministry official said his ministry has asked &ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&rdquo;.</div>               </font>
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<div align="justify">
An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.<br />
<br />
The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.<br />
<br />
The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.<br />
<br />
An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank​ out of the total budget of Rs.500 crore.&rdquo; Mint has reviewed a copy of the document.<br />
<br />
Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.<br />
<br />
The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.<br />
<br />
A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&rdquo; the official said, requesting anonymity. He refused to name the states.<br />
<br />
The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &ldquo;risky&rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &ldquo;hopes to see a better result by the end of this year&rdquo;.<br />
<br />
India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.<br />
<br />
Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &ldquo;Many don&rsquo;t know how to avail (of the loans),&rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &ldquo;I need to check it.&rdquo;<br />
<br />
A Central Bank of India​ official said many states are yet to notify a designate authority for issuing the income certificate. &ldquo;It&rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&rdquo; he said, requesting anonymity as he is not authorised to speak to media.<br />
<br />
A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&rdquo;, he said. &ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&rdquo;, he added.<br />
<br />
A finance ministry official said his ministry has asked &ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&rdquo;.
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An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.

The scheme, launched in 2010 by the human resource development (HRD) ministry,...',
	'disp' => '<br /><div align="justify">An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.<br /><br />The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.<br /><br />The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.<br /><br />An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank out of the total budget of Rs.500 crore.&rdquo; Mint has reviewed a copy of the document.<br /><br />Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.<br /><br />The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.<br /><br />A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&rdquo; the official said, requesting anonymity. He refused to name the states.<br /><br />The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &ldquo;risky&rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &ldquo;hopes to see a better result by the end of this year&rdquo;.<br /><br />India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.<br /><br />Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &ldquo;Many don&rsquo;t know how to avail (of the loans),&rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &ldquo;I need to check it.&rdquo;<br /><br />A Central Bank of India official said many states are yet to notify a designate authority for issuing the income certificate. &ldquo;It&rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&rdquo; he said, requesting anonymity as he is not authorised to speak to media.<br /><br />A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&rdquo;, he said. &ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&rdquo;, he added.<br /><br />A finance ministry official said his ministry has asked &ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&rdquo;.</div>',
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	'title' => 'Education subsidy plan misses target by Prashant K Nanda &amp; Remya Nair',
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An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.<br />
<br />
The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.<br />
<br />
The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.<br />
<br />
An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank​ out of the total budget of Rs.500 crore.&rdquo; Mint has reviewed a copy of the document.<br />
<br />
Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.<br />
<br />
The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.<br />
<br />
A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&rdquo; the official said, requesting anonymity. He refused to name the states.<br />
<br />
The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &ldquo;risky&rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &ldquo;hopes to see a better result by the end of this year&rdquo;.<br />
<br />
India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.<br />
<br />
Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &ldquo;Many don&rsquo;t know how to avail (of the loans),&rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &ldquo;I need to check it.&rdquo;<br />
<br />
A Central Bank of India​ official said many states are yet to notify a designate authority for issuing the income certificate. &ldquo;It&rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&rdquo; he said, requesting anonymity as he is not authorised to speak to media.<br />
<br />
A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&rdquo;, he said. &ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&rdquo;, he added.<br />
<br />
A finance ministry official said his ministry has asked &ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&rdquo;.
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An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.

The scheme, launched in 2010 by the human resource development (HRD) ministry,...'
$disp = '<br /><div align="justify">An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies.<br /><br />The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year.<br /><br />The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier.<br /><br />An HRD ministry document says only 40% of the budgeted amount was used in FY2011. &ldquo;In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank out of the total budget of Rs.500 crore.&rdquo; Mint has reviewed a copy of the document.<br /><br />Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks&rsquo; Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry.<br /><br />The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme.<br /><br />A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. &ldquo;Till recently less than 15 states have notified a designated authority who can give students an income certificate,&rdquo; the official said, requesting anonymity. He refused to name the states.<br /><br />The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them &ldquo;risky&rdquo;. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and &ldquo;hopes to see a better result by the end of this year&rdquo;.<br /><br />India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data.<br /><br />Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. &ldquo;Many don&rsquo;t know how to avail (of the loans),&rdquo; she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. &ldquo;I need to check it.&rdquo;<br /><br />A Central Bank of India official said many states are yet to notify a designate authority for issuing the income certificate. &ldquo;It&rsquo;s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,&rdquo; he said, requesting anonymity as he is not authorised to speak to media.<br /><br />A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. &ldquo;We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates&rdquo;, he said. &ldquo;We are still collating the data and the final amount could be more than Rs.200 crore&rdquo;, he added.<br /><br />A finance ministry official said his ministry has asked &ldquo;banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening&rdquo;.</div>'
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Education subsidy plan misses target by Prashant K Nanda & Remya Nair

An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies. The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a year. The interest subsidy is valid for the length of the course the student is enrolled for as well as a moratorium of either one year or six months after employment, whichever is earlier. An HRD ministry document says only 40% of the budgeted amount was used in FY2011. “In the previous financial year, a total of claim of sum of Rs.203.28 crore was reimbursed to Canara Bank out of the total budget of Rs.500 crore.” Mint has reviewed a copy of the document. Canara Bank is the nodal agency for the scheme, following a decision by the Indian Banks’ Association. Other banks lending to students under the scheme can claim the subsidy from Canara Bank, which in turn gets reimbursed by the HRD ministry. The HRD ministry has allocated a budget of Rs.640 crore this fiscal for the subsidy scheme. A ministry official said the scheme has not received enough attention because of poor awareness and lack of support from banks and state governments. “Till recently less than 15 states have notified a designated authority who can give students an income certificate,” the official said, requesting anonymity. He refused to name the states. The official added that though interest rates on education loan are higher than those for vehicle and home loans, some banks hesitate to sanction education loans, branding them “risky”. Another official in the HRD ministry said the ministry has informed the finance ministry and IBA and “hopes to see a better result by the end of this year”. India wants to increase its higher education enrolment by nearly 30 million in a decade. Currently around 15 million are studying for college degrees in India, around 12.4% of those eligible. Of these, less than one- tenth take student loans, according to official data. Geeta Bhukal, education minister of Haryana, said the scheme is good but needs publicity. “Many don’t know how to avail (of the loans),” she said. However, the minister said that she is not sure whether her state has notified any designated authority for the scheme or not. “I need to check it.” A Central Bank of India official said many states are yet to notify a designate authority for issuing the income certificate. “It’s a cumbersome process to lodge claims as data has to be collated from all the branches by the central office and then passed to Canara Bank,” he said, requesting anonymity as he is not authorised to speak to media. A Canara bank official, who too did not want to be named, said the figures are provisional as they had given banks time till 31 August to claim the subsidy. “We are providing sufficient publicity but the main issue is that many states are yet to notify the authority who can issue the income certificate to the eligible candidates”, he said. “We are still collating the data and the final amount could be more than Rs.200 crore”, he added. A finance ministry official said his ministry has asked “banks to promptly inform loan seekers meeting the income criterion that they are eligible for the subsidy. Most banks are doing it. But there are a few instances where this is not happening”.