Co-op banks will provide educational loans on liberal terms

Thiruvananthapuram, Sept 18 (UNI) Kerala Chief Minister V S Achuthanandan today informed the State Assembly that the cooperative banks in the state had been directed to provide educational loans to needy students on liberal terms.

Replying to a calling attention motion by Congress memebr K C Joseph, he said the State Level Banker's Committee (SLBC) had asked the Lead Banks in districts to open help desks to look into complaints of non-payment of educational loans.

Mr Achuthanandan said as per SLBC statistics, 33,540 out of the 34,599 educational loan applications received last year had been cleared. Loans to the tune of Rs 622 crore had been sanctioned.

The Reserve Bank had issued clear guidelines on education loans and all banks were bound to follow them, he said and warned of strict action against banks who violated the guidelines.

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