Bihar State Education Finance Corporation Limited (BSEFCL) is an undertaking of the Government of Bihar. As a company, it was incorporated on 27th March 2018 with the objective of act as a facilitator-cum-agency for the Finance Department, Government of Bihar to implement and manage the education loan life cycle of the Bihar Student Credit Card Scheme (BSCC) and to implement different schemes that may be allotted to the corporation from time to time by the Government of Bihar.
This flagship scheme of the Bihar Student Credit Card was implemented in 2018 through BSEFCL to provide financial assistance to the students of Bihar to pursue their higher education. Thus the object is to increase the Gross Enrolment Ratio (GER) in higher education above the national average.
Conceptualization
BSEFCL through BSCC (Bihar Student Credit Card) assist the students with a sum of rupees (4 Lakhs) at no interest rates . It will ease out the financial burden and reduce the drop out of applicants and thus improve the GER (Gross Enrolment Ratio) of Bihar above national average.
Objective
BSEFCL through BSCC ( Bihar Student Credit Card ) scheme aims to strengthen the financial support system for the students of Bihar and enable them to pursue higher education and become employable.
Achievements
BSEFCL has always been the frontrunner in achieving the set target and has disbursed loans to 380,286+ applicants since incorporation.