TN kids take 25 percent of India's education loan pie

Union Finance Minister P Chidambaram on Saturday said students from Tamil Nadu reap maximum benefits from educational loans provided by banks, compared to students from other regions.

Published: 27th October 2013 08:09 AM  |   Last Updated: 27th October 2013 12:17 PM   |  A+A-

Union Finance Minister P Chidambaram on Saturday said students from Tamil Nadu reap maximum benefits from educational loans provided by banks, compared to students from other regions.

“Of every four education loans provided by banks, one beneficiary belongs to Tamil Nadu,” said Chidambaram, while participating in Canara Bank’s loan distribution function at Thirumangalam near here.

Chidambaram said that to help more number of students benefit from the educational loans, the Union government has fixed a target of `70,000 crore in the current financial year, of which nearly 25 per cent is expected to be disbursed by banks in Tamil Nadu. He said the banks have disbursed `58,000 crore so far and hinted that more number of Tamil Nadu students benefited from it because the banks in the State have been proactive in implementing the loan scheme.

More: Education loans will take 15 yrs to produce results, says FM

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