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India : Rs 4.24 cr loan approved for education

September 2, 2014

About 142 loan proposals of worth Rs 4.24 crore have been approved, in a mega education loan fair, organised on Saturday at the Collector s office. The loan amount will be disbursed in coming 15 days.

Mukesh Bhatt, Organizer of the loan fair and lead bank manager, stated that as per the rule, loan of Rs 4 lakh can be sanctioned to students without guarantee and loan amount up to Rs 7 lakh can be approved on personal guarantee.

The SBI, PNB, Bank of Maharastra, HDFC Bank Ltd, Union Bank, Bank of Baroda, Central Bank of India, Dena Bank, Oriental Bank, ICICI Bank, Narmada Jhabua Regional Rural Bank, Andhra Bank and Vijaya Bank participated in the fair. All the banks sanctioned education loan proposal on the spot.

According to Bhatt, this was the second loan fare of the year. Via the number of loan proposals obtained was less than the last fair, the loan amount was quite more.

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Source: TendersInfo (India)

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