Daijiworld Media Network – Mangalore (NR) - pics - Ganesh S Perla

Mangalore Sep 4: Creating a record of sorts for the first time in the history of the district, a huge sum of Rs. 1.55 crore for students as educational loan is sanctioned by various banks, at a loan camp collaboratively organized by the Syndicate Bank which is the lead district bank alongwith Corporation Bank, Canara Bank, Karnataka Bank, Vijaya Bank, State Bank of India and State Bank of Mysore, which is conducted as per the guidelines issued by the Finance Ministry.

Around 220 students took part in the counseling on educational loan in the camp and loans disbursed to 87 students who had applied for the same, informed the lead district manager Uday Kumar Holla. 

Dr. B K Ravindra, prinicipal of SDM Law College after inaugurating the loan camp, organized here at the said college campus on Monday, 3 Sept, stated that at present there is a dire need for educational loan, as financial support is required to gain quality education in higher studies.

"When students learn from their own money, they learn with seriousness and dedication, which is not there if their parents pay for their education," opined Dr. B K Ravindra. At the same time, he did request the students to promptly repay the loan amount once they completed their education as the funds would be used to provide education to other economically backward students as well. The banks also will be able to offer such facilities to the next generations, he added.

Presiding over the programme and delivering the presidential address, deputy general manager, Syndicate Bank K U Shanbag remarked that meritorious students should not be left bereft of quality education. He informed that it is for the first time that such an effort is being made and the loans are not being provided with the intention of making profit. It’s only aim is to provide financial security to students who are unable to pursue their higher education, many times due to financial constraints.

Shanbag further stated that moving forward after this, the banks will aim to include all families in the banks service coverage under the RBI’s Financial Inclusion Scheme, so that all families must possess a bank account and must utilize banking facilities in due course. Lauding the achievements of the banks in the district he quoting a survey, informed that most of the families in the district were having more then one bank account.

Eshwar Bhat, deputy general manager of Syndicte Bank, referring to the education loan camp, informed that there were many cases of student suicides due to them lacking funds to take up higher education. It is with the view to protecting students from taking such dire steps, that the bank has taken this loan camp initiative, he averred.

Bhat further informed that to avail of the loan facility, the student must be a meritorius students, he/she must visit the bank in the place of his/her permanent address.

Corporation Bank assistant general manager (AGM) Suresh Shenoy, Canara Bank AGM B M Rai, Vijaya Bank chief manager M Manjunath Rai, State Bank of India AGM S Dheerendra, State Bank of Mysore AGM Samir Kumar Roy and Karnataka Bank AGM U Mahabaleshwar Maiya were present on the occasion.