Over Rs. 40 crore to be disbursed as Education Loan

Education loan to the tune of Rupee 23.30 crore has been disbursed to over 1,560 students for the current financial year in the district.

Distributing loans to the tune of Rupee 6.86 crore to about 503 students here on Thursday, Collector C. Munianathan stated that a target of Rupee 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 Rupee 1.36 crore to over 65 students by the Indian Bank; Rupee 1.81 crore to 72 students by the Canara Bank; Rupee 2.43 crore to 254 students by the Indian Overseas Bank through its 28 branches and Rupee 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.

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