Date:07/11/2009 URL: http://www.thehindu.com/2009/11/07/stories/2009110751380300.htm

Tamil Nadu

Education loan campaign begins in Tirupur district

Staff Reporter

56 students get on-the-spot provisional sanction

– Photo: M. Balaji .

Hassle-free: Collector C. Samayamoorthy handing over the provisional sanction order to a loan applicant at the mega educational loan campaign organised by the district administration and the Lead Bank at Dharapuram in Tirupur district on Friday.

Tirupur: Collector C. Samayamoorthy inaugurated the four-phase ‘mega education loan campaign,’ being jointly organised by the district administration and the Lead Bank in the district, at Dharapuram, near here, on Friday.

Lead Bank Manager R. Murugesan told The Hindu that on-the-spot provisional sanction for education loans worth Rs. 1.1 crore was granted by eight banks to 56 students from the 250-odd applicants in the first leg held at Bishop Thorpe College, Dharapuram.

The event covered loan applicants from areas falling under Dharapuram, Kundadam and Mulanur panchayat unions.

Mr. Murugesan added that so far this fiscal education loans worth Rs. 7.95 crore had been disbursed to 410 applicants from Dharapuram, Kundadam and Mulanur panchayat unions.

Canara Bank provided Rs. 2.99 crore to 142 students, State Bank of India – Rs.1.61 crore to 95 students, Indian Bank – Rs 1.4 crore to 60 students, Central Bank of India – Rs 1.01 crore to 47 students, Erode District Central Cooperative Bank – Rs. 3 lakh to 18 students, Punjab National Bank – Rs. 52 lakh to 27 students,

Indian Overseas Bank – Rs. 28 lakhs to 17 students, and City Union Bank Limited – Rs. 11 lakhs to 11 students.

The remaining phases of the campaign were scheduled at Udumlapet on November 11, Vellakoil on November 13 and Tirupur on November 16, he said.