Students with financial difficulties who want to study now have an easier option. The Indian Banks Association has set a committee headed by TM Bhasin, Chairman and Managing Director of Indian Bank. As per the committee, the structure of educational loan needs to undergo a change. The committee will be sending its recommendations to the Reserve Bank of India and the Centre.
The list of recommendations includes a demand to provide an uncollateralised loan to students based on merit. Cut-off marks will be decided upon for such loans. Students’ employment potential and repayment capabilities will also be considered before granting loans. Currently, students applying for an educational loan below Rs.4 lakh are free from the burden of collaterals. This amount is soon likely to be increased.
Volume 1 Issue 1
Embarking on a higher education journey abroad is still a very big dream for many…
As we enter 2024, navigating the job market and excelling in a job interview has…
As the warm breeze of summer beckons and schools and colleges draw to a close,…
As the 2024 Lok Sabha elections draw near, the excitement and anticipation among citizens, especially…
Tattoos are more than just ink on the skin; they are visual narratives, expressions of…
Wanderlust! This is one word that is trending since the world has come out of…