Eligible students should not remain deprived from higher education loan scheme

3 schemes to be formulated by merging various schemes
Chief Secretary Shri Anthony de Sa at state level bankers meet

Eligible students should not remain deprived from benefit of higher education loan scheme. It is being contemplated to formulate 3 schemes by merging various schemes being implemented by different departments. This was stated by Chief Secretary Shri Anthony de Sa at 154th meeting of state level bankers here today.

The Chief Secretary congratulated the bankers on distribution loans in 3 lakh 3 thousand cases during year 2013-14 , which is 136 percent more than last year.

The Chief Secretary said that 50 percent of the target should be met in the first and second quarter. He said that sanction and distribution of loan should be made within the time-limit prescribed by Reserve Bank of India.

Departmental officers to get powers of revenue officers

The Chief Secretary assured the banks that government will cooperate in recovery of loans. He said that a decision will be taken soon to give departmental officers the powers of revenue officers to expedite loan recovery.

Achieve targets by December

Chairman-cum-managing director of Central Bank of India Shri Rajiv Rishi told the banks that targets set under state government’s schemes for year 2014-15 should be met by December 2014. He informed that as a result of all banks’ coordinated efforts, country’s credit deposit ratio has reached the level of 66 percent. In the state, total credit was Rs. one lakh 39 thousand crore in March 2013, which has increased to Rs. one lakh 65 thousand crore now.

In the inaugural year of Mukhyamantri Yuva Swarozgar Yojana, loans were distributed in 30 thousand 83 cases. Under Mukhyamantri Aawas Mission, loans were distributed in 90 thousand cases and under Higher Education Loan Scheme in 92 percent cases.

Commissioner Institutional Finance Shri Ashish Upadhyay said that progress of private sector banks is negligible. They need to improve.