- The Himachal Pradesh government will introduce a deposit-linked loan scheme in October 2023.
- Himachal Pradesh Chief Minister Sukhwinder Singh Sukhu inaugurated this initiative.
- The goal of this initiative is to ensure the financial inclusion of students aged 10 to 18.
- On reaching the age of 18, they would be eligible for financial help for higher education, business start-up, entrepreneurship, or other livelihood pursuits.
- All pupils in this age group are eligible for the Early Savings Deposit Scheme.
Every year, the money in the savings account is transferred to the fixed deposit account, and students earn interest on the fixed deposit. - After the age of 18, students would be entitled to borrow five times the amount of their fixed deposit.
