Kerala - Kochi   

Plea to waive interest on home loans

KOCHI: The Education Loan Holders' Association has alleged that banks are not following the guidelines given by the government in respect of repayment of education loans.

The Union Finance Minister Pranab Mukherjee, in his budget speech, had promised waiver of interest on home loans to those students of families with annual income of up to Rs.4.5 lakh, but no effective measures have been taken to implement it, the association representative said here.

The government has been encouraging banks to issue loans for higher studies.

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