Banks in Coimbatore district are expected to disburse over ₹350 crore as educational loans during the current financial year (2022-23).
Minister for Electricity, Prohibition and Excise V. Senthilbalaji told presspersons 293 students received approval letters for ₹44.13 crore education loan at a camp, organised by the district administration and the district lead bank, here on Saturday. The district was looking at disbursing ₹350 crore towards education loans and of this, ₹100 crore would be disbursed in the next one month.
“We are taking steps to make Coimbatore a leading district in disbursement of education loans,” he said. Collector G.S. Sameeran and District Lead Bank Manager Kousalya Devi had taken measures to ensure that all the students who applied for the loan got it. If the students faced hardships in getting education loan, they should approach the district administration. The respective educational institution could also take up the issue with the district administration, he said.
Official sources said about 5,500 students received education loans in 2021-22 in the district and the target this year was to support more number of students.
The banks that issued approval letters to students on Saturday included State Bank of India, Canara Bank, Indian Overseas Bank, Bank of India, Axis Bank, Indian Bank, and Central Bank of India.
Coimbatore MP P.R. Natarajan pointed out that banks refused loans to students if they had arrears in the first year or if the parents had low CIBIL score. Education loans should be disbursed to students without any such condition, he said.
The Minister said as several issues were pointed out related to Smart Cities works taken up in Coimbatore earlier, they were being reviewed now and the works would be completed at the earliest.
