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Mr M.S. Sundara Rajan, Chairman and Managing Director, Indian Bank

Our Correspondent

Madurai, Sept. 22

Indian Bank has disbursed more educational loans to students from rural and semi-urban areas and girl students accounted for more than 35 per cent of the total, according to Mr M.S. Sundara Rajan, Chairman and Managing Director of the bank.

Addressing a press conference at Karaikudi on Sunday, he said that of the total 1,12,676 beneficiaries of the bank, 29,453 belonged to rural areas and 33,478 to semi-urban centres. Gender-wise, girls accounted for 42,820. Giving more details, he said 13,233 belonged to SC and ST category, 42,203 to backward classes and 6,102 to minority sections.

A total of 4,963 students have taken the loan for studying abroad. The bank has entertained applications for loan online and 682 students have benefited to the tune of Rs 27 crore. The total outstanding stood at Rs 1,410 crore, he mentioned.

For the current year (between April to August), 28,183 students have availed themselves of loans to the tune of Rs 247 crore surpassing a target of Rs 183 crore for the period, he said, and added that a target of Rs 550 crore has been fixed for the financial year. A feature, he underlined, was that 11,000 students have voluntarily taken up insurance cover under the bank’s tie-up with Life Insurance Corporation of India.

Mr Sundara Rajan said that the bank has opened 32 branches, out of 100 branches planned for the year. There is also a plan to open common centres to provide customer services in areas where the bank had more branches, he added.

More Stories on : Credit Market | Education | Tamil Nadu

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