Indian Bank disburses Rs 1,000 cr in educational loans

Puducherry,Mar 19(UNI)Indian Bank has disbursed educational loans to the tune of Rs 1,000 crore to 60,000 applicants throughout the country during the current financial year, Executive Director A Subramanian said here today.

Addressing the press here after inaugurating the first branch of the Indbank, a subsidary of the Indian Bank, Mr Subramanian said the bank was having an online system for making applications for educational loans with more than 500 students having applied.

Any complaints would be looked into in 48 hours, he said adding all branch managers had been told that no student should be deprived of higher education due to lack of finance.

Puducherry was the first district in the country to achieve 100 per cent financial inclusion with all families having a bank account.

Mr Subramanian said the online trading facility at the new Indbank branch would benefit computer professionals.

A computer with internet connection could be used for online trading for a minimum service charge of Rs 100 an hour which would be deducted when the brokerage was received.

Mr Subramanian also said the Indbank would start eight more branches shortly as part of it's expansion programme.

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