Starting July 2024, the higher and technical education department in Jharkhand, India, will implement real-time processing for interest payments under the Guruji Credit Card scheme. This initiative aims to address issues where students were charged commercial bank interest rates of 10% to 11% instead of the promised 4% subsidized rate. Rahul Kumar Purwar, the principal secretary of the department, stated that previous problems have been resolved, and the new system will prevent students from facing excessive interest charges. Students who repay their loans after securing employment will pay 4% interest, while those who repay immediately can benefit from a reduced rate of 3%. The scheme, launched in October 2024, offers education loans of up to ₹15 lakh (approximately $18,000 USD) for higher studies. The department has partnered with various banks to facilitate loans, where the banks charge standard rates but students are only responsible for the subsidized amount. The new real-time payment system will ensure that interest subvention payments are transferred automatically to banks at the end of each month, eliminating delays and discrepancies in interest charges. Currently, subvention payments have been settled up to December 2025, with the department awaiting recent claims from banks for final clearance.