Guruji Credit Card Scheme – Jharkhand Govt To Act As Guarantor

New Delhi, 04 March 2022: On 3 March 2022, the Jharkhand government released its budget wherein it announced the Guruji Credit Card scheme to provide educational loans to students for higher education at nominal interest. The aim of this scheme is to help underprivileged and tribal students who are generally not able to provide the collateral security. In such cases, they miss the opportunity of higher education. Through the Guruji Credit Card scheme, the state government will act as the guarantor (the one who formally agrees to pay a debt if the loan seeker cannot) for such loans.

Note: When one applies for an education loan, most Indian banks require collateral security which generally includes any property, movable or immovable, offered for securing a loan.

Guruji Credit Card Scheme: Details

  • The selected students under the Guruji Credit Card scheme will be given credit cards for higher education.
  • The selected students will be able to take a loan of up to Rs 10 lakh from banks as per the requirement. 
  • The beneficiary will have to return this amount to the banks in ten years.

Jharkhand Budget: Other Educational Schemes

  • Other than the Guruji Credit Card scheme, Mukhyamantri Sarathi Scheme has also been proposed to help degree holding students to prepare for competitive examinations. 
  • The budget provided for the Marang Gomke Jaipal Singh Munda Trans-national Scholarship scheme will now be extended to students of Schedule Caste, Backward and Minority communities.


  • Under the Marang Gomke Jaipal Singh Munda Transnational Scholarship 2021, the Jharkhand government aims to provide talented students of Scheduled Castes (SCs) the opportunity to pursue higher education in prestigious foreign universities like Oxford and Cambridge. 
  • A total of 10 Scheduled Caste (SC) students will be selected by the Department of Scheduled Castes, Scheduled Tribes, Minorities and Other Backward Classes Welfare Department for getting higher education under the scheme.

Marang Gomke Jaipal Singh Munda Transnational Scholarship: Eligibility Criteria

  • For Masters degree, including M. Phil, candidates should have 55% or more in bachelor’s degree and 2 years teaching experience in relevant subjects.
  • Candidates who have experience will be given priority under this scholarship.
  • The age of the candidates should not be more than 40 years. If an applicant is over 40 years of age, then in such a situation he/she will not be eligible for this scholarship.
  • Only permanent residents of the state of Jharkhand can apply for this scholarship.
  • To avail the benefits of this scholarship, the candidates must have a caste certificate of the Scheduled Tribe (ST).
  • The annual family income of the candidates should be less than or equal to Rs 12,00,000.
  • More than one child of the same parent or guardian will not be eligible under this scholarship.
  • The benefit of this scholarship will only be given to any beneficiary once for a particular course.
  • Children of ministers of the state government will not be covered under this scholarship.

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