Rs 7.62-crore educational loan disbursed in Villupuram

HELPING THE NEEDY: Villupuram Collector R.Palanisamy giving away educational loan to a candidate at a special camp organised at the Collectorate on Saturday.   | Photo Credit: — Photo: C. Venkatachalapathy

Special Correspondent

Literacy rate has gone up in the district, says Collector

VILLUPURAM: Collector R. Palanisamy disbursed educational loans to the tune of Rs. 7.62 crore to 329 candidates at a special camp organised at the Collectorate here on Saturday.

He said that following the establishment of two government engineering colleges and several private colleges in the district, literacy rate had gone up.

However, for want of financial assistance, candidates in rural areas could not pursue higher education.

Therefore, Higher Education Minister K.Ponmudy, Union Minister of State for Law K.Venkatapathy and the Collector had decided to extend assistance to the deserving candidates through commercial banks.

The Collector held discussions with the banks and they had come forward to organise a special educational loan camp on November 26.

But owing to rain, it was postponed . A total of 800 applications were received, which included those collected earlier.

Mr. Palanisamy said that the banks had already processed the earlier applications and 329 candidates were qualified to receive loans amounting to Rs 7.26 crore from State Bank of India, Indian Overseas Bank, Indian Bank, Punjab National Bank, Karur Vysya Bank and Tamil Nadu Mercantile Bank.

The remaining applications would be forwarded to the respective banks and processed within a fortnight. In case of rejection , the banks concerned would give the reasons in writing, the Collector said.