Education loan for 5,674 in Nagapattinam

[sajiv]

Education loan for 5,674 in Nagapattinam

NAGAPATTINAM: The rural-based Cauvery delta region of the district has achieved success in granting education loans through various banks to as many as 5,674 students to the tune of Rs.39.42 crore this year, said M. Jayaraman, Collector, here on Saturday.

Distributing the second phase of education loan to 532 students to the tune of Rs.3.52 crore, the Collector said that he held discussions with the Indian Overseas Bank, the lead bank of the district, and all the commercial banks came forward to sanction education loan to all students who had applied for it.

He said that out of the loan amount of Rs.3.52 crore disbursed on Saturday, Indian Bank had sanctioned Rs.1.83 crore for 153 students, Indian Overseas Bank Rs.1.10 crore for 342 students, State Bank of India Rs.16.85 lakh to nine students, Canara Bank Rs.28.56 lakh to 20 students and Punjab National Bank Rs.13.49 lakh to eight students.

He pointed out that 3,805 students were given education loan to the tune of Rs.24.40 crore in October last year and said that the total education loan disbursal was Rs.6.88 crore in 2006-07 and Rs.9.85 crore in 2007-08 in the district.
Target exceeds farm loans

This year, the total education loan provided was to tune of Rs.39.42 crore which had exceeded the total loan of Rs.36 crore provided to the farmers.

He appealed to the parents and students for prompt repayment of their loans after completing their courses.

Officials from Indian Overseas Bank, the lead bank of the district and from other banks participated in the function.

Source :hindu