THIRUVANANTHAPURAM: The Additional Chief Secretary (Planning and Finance) has directed the banks to submit the details of e-transferring the amount, which had been allotted in the 2013-14 financial year, to the accounts of those who could not repay education loans.
The amount was sanctioned to give interest subsidy to those who had taken educational loan between April 1, 2004, and March 31, 2009. The directive was given against the backdrop that some banks were proceeding with revenue recovery measures even after the government issued an order in April this year by extending the moratorium by six more months.
Strict Instructions
The banks have been given strict instructions to follow the moratorium that had been declared on revenue recovery measures on education loans.
The order also directed heads of leading banks and District Collectors to send details to the Government, in case more amount is needed to give discount in interests to eligible candidates.