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Rs. 270-crore educational loans yet to be realised

Special Correspondent

VILLUPURAM: Educational loan amounting to Rs.270 crore, disbursed through banks in Villupuram district over the past few years, is yet to be realised from students. Of this, Rs. 30 crore has fallen into “bad debt” category because of the default of loanees or the doubtful nature of repayment, according to Collector C.T. Manimekalai.

Addressing a bankers' meeting here on Thursday, she said that last year the banks gave away educational loans to the tune of Rs. 40 crore to 3,882 students. She urged the students and parents to clear the loans so that the banks are in a position to help more students.

Stressing the importance of banks in the implementation of government schemes, Ms. Manimekalai said that last year a total advance of Rs. 1,454 crore was made to the farm sector alone. However, in the distribution of Kisan Credit Cards, the banks were yet to achieve the target.

She said that the banks should increase their support to traders and small entrepreneurs. Ms. Manimekalai pointed out that 349 villages in the district were yet to be covered under the banking services, and therefore, she called upon the banks to open more branches to cater for the rural population.

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