The Karnataka Minorities Development Corporation (KMDC) has proposed to grant interest-free education loan to 4,000 students pursuing professional courses in 2015–16.
The corporation on Wednesday handed over a Rs. 10-crore cheque to Karnataka Examinations Authority, towards pre-sanction of loan to students seeking admissions through CET. The annual income limit to avail the loan has been enhanced from Rs. 4.5 lakh to Rs. 6 lakh. Minister for Wakf and Municipal Administration Qamarul Islam told presspersons that the KMDC has received 4,000 applications seeking loans in 2015-16, he said.
