Banks should disburse education loans to students with a view that it is a future investment said S. S. Palani Manickam, Union Minister of State for Finance here on Saturday.
Distributing education loans to the tune of Rs. 17.22 crores to 1,049 students, Mr. Palani Mancikam said that the same students who borrow from banks can become officers in the bank after education or deposit their earnings in the same banks after coming up in life. "So the banks should consider education loans as future investment", he said. He appreciated the nationalised banks of Thanjavur district for distributing more education loans. Students should also feel the responsibility. Once upon a time parents have to sell their property or pawn their property to get money to educate their children. Now things have changed. Nationalised banks offer the loans.
He advised students to go abroad and earn. That will help in increasing the country’s foreign exchange. But at the same time they should not stay their for ever but come back to our country and serve our society.
M. S. Shanmugham, District Collector said that besides parents and teachers, students now owe a responsibility to banks also as they get the loan from them. They should add a diploma or additional qualifications along with their degree studies.
S. N. M. Ubayathullah, State Commercial Taxes Minister, S. N. Mishra, General Manager, Indian Overseas Bank, A. M. Venkatesa Prasad, Chief Regional Manager of Indian Overseas Bank, Malathi, Circle head, Indian Bank, also spoke.
Loans were disbursed by Indian Overseas Bank, Indian Bank, State Bank of India, Canara Bank, Bank of Baroda, Union Bank of India, Central Bank of India, Corporation Bank, Dena Bank, Bank of Travancore, Syndicate Bank, UCO Bank, Bank of India, Oriental Bank of Commerce, Vijaya Bank, City Union Bank, Catholic Syrian Bank, Federal Bank Ltd, Lakshmi VIlas Bank, Karur Vysya Bank and Tamil Nadu Mercantile Bank Ltd.