5.61 Lakh Education Loan Beneficiaries from TN

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5.61 Lakh Education Loan Beneficiaries from TN

One out of four education loan beneficiaries in the country was from Tamil Nadu, Union Home Minister P. Chidambaram said here on Sunday.

Thanks to the decision of late Prime Minister Indira Gandhi to nationalise banks, there were now 20 lakh education loan beneficiaries in the country, including 5.61 lakh in Tamil Nadu, Mr. Chidambaram said addressing the silver jubilee celebrations of Shrimati Indira Gandhi College.

Through significant decisions on the economic front, India has achieved a growth rate of nine per cent from a level of 5 to 5.5 per cent decades ago when it was constrained by factors like low foreign exchange reserves, lack of educational opportunities for the backward sections of society, denial of educational opportunity to women, and negligible imports and exports.

“India is not what it was 25 years ago and will not be what it is 25 years hence,” Mr.Chidambaram said.

He advised students not to be bogged down by criticisms, reasoning out that only in situations where ideas clash there will be debate and clarity in decision-making.

Mr. Chidambaram wanted that students develop human qualities like cooperation, tolerance and team spirit in classroom situations. In the last few decades, Indians have come out of the mental block of resisting change.

Developments have happened owing to the readiness of the people to oppose superstitions and traditional mindset. The country was yet to ensure education for all and food for all and 33 per cent reservation for women, he said.

Earlier Mr. Chidambaram received a special post-mark and cover from S.P. Rajalingam, Post Master General, Central Region, in the presence of the Vice-Chancellor of Bharathidasan University, K. Meena, the College Secretary, S. Kunjithapatham and the College president, S. Viswanathan.


He handed over scholarships sponsored by the College and City Union Bank to meritorious students and declared open the silver jubilee arch, besides honouring those in the college who have completed 25 years of service.

Presiding over, the Transport Minister, K.N. Nehru, lauded the college for the achievements it has registered so far. Mayor S. Sujatha, Deputy Mayor M. Anbazhagan and MLAs K.N. Sekaran and Anbil Periyasami took part.

Dr. Meena, who was also honoured by Mr. Chidambaram for completing 25 years of service, emphasised that self-confidence and incessant efforts would lead to victory. Mr.Viswanathan attributed the college’s growth to the far-sightedness of its founder ‘Vidya Seva Ratnam’ Santhanam.

The Principal in-charge, S. Vidhyalakshmi, said the college was among the first two institutions in Tamil Nadu to receive permission for functioning on a self-financing basis. The college now has a strength of over 4,200 students enrolled in 47 programs, she said.

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