Tamil Nadu   

Collector urges banks to grant education loans to students

KARUR: Banks, especially private ones, should come forward to extend education loans to deserving applicants. Many banks in the district are reportedly dithering on the issue.

If the trend continues, then severe action will be recommended against the erring bank branches, Collector T.N. Venkatesh has said.

Addressing the standing committee meeting of district bankers here recently, Mr. Venkatesh said the inability of several private banks to disburse adequate number of education loans had resulted in increasing number of complaints in the past months. Bankers must move quickly to set right the situation.

Under the Swarna Jayanthi Gram Swarozgar Yojana, Rs.71.75 lakh was disbursed to 212 women self help groups, while Rs.2.03 crore was set apart for economic activity to benefit several groups.

Under the Prime Minister’s Rozgar Yojana, 315 youths were sanctioned Rs.1.30 crore till September.

For TAHDCO schemes, credits have been sanctioned to 69 individuals and 63 groups.

The Collector expressed concern at several private sector banks failing to disburse even a single loan so far under the categories and urged them to sanction loans to reasonable and fit applications.

So far, 889 self-help groups received Rs.5.46 crore as subsidy-less loans of which Indian Overseas Bank, the lead bank in the district, sanctioned Rs.2.50 crore for over 400 SHGs., he added further.

Assistant General Manager, Reserve Bank of India, Velusamy urged the bankers to expedite works under the Financial Inclusion Scheme as the process of opening bank accounts in the target areas had been completed.

Lead District Manager K. Chandrasekaran requested the bankers to send in their reports at the earliest for proper review.

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