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State Finance Minister K.M. Mani has asked banks to provide education loans for professional courses at base rate, considering it as a priority sector.
Speaking at the 47th national conference of South Indian Bank Officers’ Association (SIBOA) here, the Minister said that education loans are long-term investments for the banks.
Highlighting the importance of giving more educational loans, he said a total amount of Rs 7,200 crore has been given in this regard by all the banks in the State. This is very low, he said.
The government and banks should go hand in hand to support the developmental activities of the State, he said, adding that the banks should extend credit facility to the financially weaker sections of society.
The term financial inclusion means accessibility to banking products and services by the deprived sections in an affordable and transparent manner, he said.
The Minister also asked the banks to give loans to entrepreneurs under the Kerala State Self Entrepreneur Development Mission at minimum possible rate.
South Indian Bank MD and CEO V.A. Joseph was present on the occasion.
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