(a) whether the Government has set up a Rs. 5,000 crore Credit Guarantee Fund (CGF) to facilitate easy education loans to needy students by providing protection against defaults to banks;
(b) if so, the terms and conditions stipulated for this purpose; and
(c) the time by which it is likely to be set-up?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a) to (c): The Government announced in the Budget 2012-13 setting up of a Credit Guarantee Fund (CGF) for education loans to ensure better flow of credit to deserving students. However, the frame-work ot the Credit Guarantee Fund has not been finalised.