Over Rs. 40 crore to be disbursed as Education Loan
Distributing loans to the tune of 6.86 crore to about 503 students here on Thursday, Collector C. Munianathan stated that a target of 40.34 crore towards education loans has been set for the district for the current financial year. As of date, loans have been disbursed through 17 banks.
Pointing out to the significance of education loans in creating human capital, Mr.Munianathan stated that the goal was to ensure that education was not compromised for want of finance.
The education loan disbursements include loans to the tune of 1.36 crore to over 65 students by the Indian Bank; 1.81 crore to 72 students by the Canara Bank; 2.43 crore to 254 students by the Indian Overseas Bank through its 28 branches and 54 lakh to 48 students by the State Bank of India.
T.Sankaranarayanan, Senior Regional Manager, Indian Overseas Bank; S.Suryakala, Project Officer, Magalir Thittam; Sunderajan, Chief Manager, IOB; Mathiazhagan, Chief Manager, State Bank of India; A.Thanikachalam, Lead Bank Manager, IOB were among those present.