Karnataka - Mangalore   

Education loans have overtaken other segments: Sambamurthy

READY: (From left) Deputy Commissioner of Dakshina Kannada M. Maheshwar Rao, Chairman and Managing Director of Corporation Bank B. Sambamurthy, and chairman of Expert Educational and Charitable Foundation, at the inauguration of Pre-University Science College in Mangalore on Sunday.

MANGALORE: Education loan is the fastest growing segment of Corporation Bank, its chairman and manging director B. Sambamurthy has said.

He was speaking at the inauguration of the new premises of Expert Pre-University College here on Sunday.

Mr. Sambamurthy said that over 45 per cent of the bank’s operations were relasted to education loans and had overtaken all other segments, including industrial credit. In the last financial year, the bank had released Rs. 400-crore worth loans to students, he added.

He said that money was no longer a deterrent in pursuit of higher education in India. “Our aim is to ensure that no deserving student is deprived of higher education for want of money,” Mr. Sambhamurthy said.

Lauding the efforts of Narendra L. Nayak and Ushaprabha N. Nayak, the chairman and secretary of the institute, respectively, Mr. Sambhamurthy said that the biggest challenge that companies in India were facing these days was not financial but human resource. Institutes such as this would go a long way in meeting that requirement, he added.

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