‘Education loans, a major feat of UPA Govt’

The extension of education loans has been a singular achievement of the Government under the United Progressive Alliance and the benefits have gone to the poor, agriculturists and the middle-class, said the Finance Minister, Mr P. Chidambaram, here on Sunday while inaugurating the 1,327th branch of Oriental Bank of Commerce (OBC).

The fully computerised branch with biometric ATM and core banking solution (CBS) is OBC’s first branch in Sivaganga district.

Applauding the performance of rural students in the recent Plus Two examinations in Tamil Nadu, he said public-sector banks had in 2007-08 disbursed educational loans amounting to Rs 19,771 crore to 12,51,692 persons. The banks have started facilitating online filing of application for educational loans, and by the end of the year all banks will go online and there should be no difficulty in obtaining the loan, he said. Giving utmost importance to education, besides loans, the Government has come up with a slew of scholarship schemes for various sections, including minorities and scheduled tribes, to pursue education at the school level, polytechnics and ITIs. To promote talent in science and industry, scholarships will be offered under a scheme called ‘Inspire’, he added.