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Bihar makes loans interest-free under 'Student Credit Card Scheme'
Bihar CM Nitish Kumar announced on Tuesday that the education loans given under the 'Bihar Student Credit Card Scheme' will be made interest-free. He stated that the time limit for repaying the loans has been increased from five years to seven years for loans up to ₹2 lakh and from seven years to ten years for loans above ₹2 lakh.
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The scheme was launched in 2016
Earlier, 1 to 4% interest was charged on loans
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