1800 education loan application received in a single day at Education Loan mela

Updated on: Monday, October 15, 2012

The education loan mela organised by the district administration on Saturday received an overwhelming response as 1,800 applications for education loans were received on a single day in which 200 students were given spot sanction. As many as 25 banks, most of them nationalized, and few private banks participated in the mela. From morning onwards, applicants started assembling at the collectorate campus with their parents. The administration made special arrangements for students to get income certificate and PAN card along side the loan mela.

Lead Bank Manager K N Subramanian said the response was overwhelming on Saturday and the banks received as many as 1,800 applications in a single day. "Among the applications, we have sanctioned spot loans for 200 applications and another 100 applicants received in-principle sanctions. We will clear the remaining 1,500 applications within 15 to 20 days and we are positive there will not be many rejections. We estimate nearly 98 percent of the applicants to qualify for the loans," he said. Earlier, during the loan mela, Subramanian said all the applicants will be given a reference number for follow up and they can follow up the loan application with the respective banker.

1800 education loan application received in a single day at Education Loan mela

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