Daijiworld Media Network – Mangalore (NR)  

Mangalore, Mar 10: The fastest growing segment of Corporation Bank is its education loan segment, and it is in fact the first Indian bank to start an online request facility for processing this loan, informed B Sambamurthy, chairman and managing director of Corporation Bank.  

Sambamurthy was speaking after inaugurating the new premises of Expert pre-universtiy science college here on Sunday March 9. Now all national banks in the country too have adopted this facility to offer loans to students, he added.   

Reeling out statistics Sambamurthy said that over 45% of the Bank’s operations were related to education loans and it had overtaken all other segments, including industrial credit. In the last financial year, the Bank had released Rs 400 crore worth loans to students, he added.  

According to him the country's progress largely depends on its human resources  and if one is successful in producing these resources, India will be a developed nation by 2020. He therefore felt that it is private colleges which will go a long way in meeting this requirement.  

He also said that today money is no longer a deterrent in the pursuit of higher education in India. In this context he said the Bank's aim is to ensure that no deserving student is deprived of higher education for lack of money.  

District commissioner M Maheshwar Rao was the chief guest on the occasion. Dr U Mohandas Nayak presided over the function. Secretary of Expert Educational and Charitable Foundation Usha Prabha gave the vote of thanks.