Which statement/statements is/are true?
I. The Maharashtra Department of Prisons has launched a loan scheme “jivhala” for inmates serving sentences in jails across the state.
II. In the initial phase of the scheme a loan of Rs 50,000 will be given at a 7 per cent interest rate. Of the interest the bank earns, one per cent will be given back to the system as a contribution to the Prisoners’ Welfare Fund.
III. Under the scheme the loan will be provided without any requirement of mortgage or guarantor. Which statement/statements is/are true?