MSCB to offer loans to 250 inmates of Yerawada prison

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PUNE In a first in the country, the Maharashtra State Cooperative Bank (MSCB) will launch a loan scheme for prisoners at Yerawada prison in which a total of 250 inmates will get loans in the first phase after which the loan scheme will be extended to other prisons. in the state

PUNE In a first in the country, the Maharashtra State Cooperative Bank (MSCB) will launch a loan scheme for prisoners at Yerawada prison in which a total of 250 inmates will get loans in the first phase after which the loan scheme will be extended to other prisons. in the state.

Maharashtra State Cooperative Bank Chairman Vidyadhar Anaskar said: “MSCB will be the first bank in the country to provide loans to prisoners. The program will start at Yerawada Prison on May 1 this year. Deputy Chief Minister Ajit Pawar and Home Minister Dilip Walse Patil will be present while providing loans to detainees. The program will take place at Yerawada prison, Anaskar said.

“The MSCB has taken this bold step to launch a loan scheme for prisoners. It is noted that 70% of inmates are not professional criminals but have committed crimes in the heat of the moment. But when they are in prison, their families suffer a lot. In view of this, we have decided to grant them loans of up to 50,000. Although the loans are in the name of the inmates, the amount will go to their family members and the inmates will repay the loans inside the prison,” Anaskar said.

“These prisoners work in prison and earn money for their work. They will have to repay loans from these funds. A total of 250 detainees have been identified and the loan process is underway. Even prison authorities and banks sign an agreement for the same,” Anaskar said.

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