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‘IOB has Rs. 167 cr. education loan exposure in Tiruchi region’

Special Correspondent
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helping hand:K. Nagesh Bhatta, Chief Regional Manager, IOB, Tiruchi, handing over education loan to a student in Tiruchi. —Photo:A.Muralitharan.
helping hand:K. Nagesh Bhatta, Chief Regional Manager, IOB, Tiruchi, handing over education loan to a student in Tiruchi. —Photo:A.Muralitharan.

Sixty students pursuing para-medical courses received education loans at the Indian Overseas Bank’s Thillai Nagar Branch on Wednesday.

Out of the sanctioned sum of Rs. 1.5 crore, the first instalment of Rs.40 lakh was handed over to the students by the Chief Regional Manager of the IOB Regional Office K. Nagesh Bhatta in the presence of the Director of Cauvery Hospital Senguttuvan and Chief Manager of IOB’s Thillai Nagar Branch N. Subramanian.

Over three years, the Thillai Nagar branch has forwarded Rs. 6 crore as education loan to 250 students, Mr. Subramanian said.

As district lead bank, the IOB has forwarded Rs. 25.62 crore as education loans to a total of 5,264 students so far during this financial year in Tiruchi region. IOB’s total exposure in Tiruchi region under education loan is to the extent of Rs. 167 crore, official sources said.

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