Tata Motors Jamshedpur introduces educational benefits for employees’ children

Mail News Service

Jamshedpur, July 17: Tata Motors has introduced a new initiative to support the higher education of its employees’ children by offering low-interest education loans. The agreement between Tata Motors management and the union was finalized on Tuesday, aiming to encourage higher education and specifically promote girls’ education among the employees’ families.

During the meeting held at Tata Motors’ general office, senior management officials, including MD Girish Bagh and VP Vishal Badshah, were present alongside Tata Motors Workers Union President Gurmeet Singh Tote and General Secretary RK Singh. General Secretary RK Singh expressed satisfaction with the management’s efforts to enhance the educational opportunities for employees’ children, highlighting the positive impact on their future prospects.

President Gurmeet Singh Tote praised the management for consistently meeting the union’s demands and emphasized the potential transformative effect of the scheme on the lives of workers’ children. The initiative, named Vidyadan Yojana, will provide education loans up to Rs 7.5 lakh through SBI Bank at a reduced interest rate, with employees benefiting from a subsidy that lowers the interest rate by 1% for sons and up to 7% for daughters.

Under the Utkarsh Yojana, an additional incentive of Rs 25,000 will be awarded directly to employees whose daughters achieve over 60% marks in their 10th and 12th board exams, further promoting women’s education within the Tata Motors community.