Money & Banking

Waiver is not an option for education loans,says Meghwal

Our Bureau Chennai | Updated on January 13, 2018 Published on February 17, 2017

Waiver of education loan is not an option. If somebody gets the loan, he should have the capacity to repay, said Arjun Ram Meghwal, Minister of State for Finance & Corporate Affairs.

A participant in an interactive session with the Minister and bankers on education loan organised by Education Loan Task Force (ELTF) said that if a person is unable to repay, educational loan should be waived.

Responding to it, Meghwal said, “That’s not the question in Narendra Modi’s time. He [Modi] wants that you get a loan, but you should have the capacity to repay the loan. He wants a better citizen, a proper citizen and wants to empower the citizens. For the country’s progress, professional and educated citizen is required.”

Officials from 39 banks participated in the session.

His Ministry would make all efforts to make it easy for people to avail various loans, including education loans. In every scheme, bankers should provide proper loans to needy people at the proper time. However, there should be a system of proper repayment too. “If you repay your dues, others will be able to get loans,” he said.

Nodal officer

To deal with issues related to education loans, Meghwal said efforts would be made to appoint a nodal officer in each bank at the zonal level. There will also be a grievance redressal cell at the corporate level.

Published on February 17, 2017
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