Jain International Trade Organisation (JITO) in alliance with Oriental Bank of Commerce has launched an education loan scheme to encourage community students to pursue their higher studies.

The scheme is called ‘JITO Educational Loan Programme'.

Under the scheme the organization will avail education loans up to Rs 20 lakh to enable community students pursue higher studies in India and abroad.

Loans up to Rs 10 lakh are availed for higher studies in India. Loans amounting less than 1 Rs 1 lakh will be available at 5 percent rate of interest. For female aspirants the rate of interest on loans up to one lakh will be 4.5 percent.

The organisation will contribute major amount towards the interest payable.

The president of organisation, Hemant Shah indicated that loans worth Rs 25 crore will be disbursed to the aspirant students of the community during this year.

Education sector has also received boost from this year Union Budget. The budget has declared an interest subsidy scheme on education loans taken from scheduled banks by the students from economically weaker sections to access higher education.