According to a Press release in Chandigarh,Public sector Punjab National Bank (PNB) on Saturday said it will disburse education loans of Rs 100 crore in south Punjab by the end of this fiscal.
“We have planned to disburse education loan amounting to Rs 100 crore by March 31, 2008,” PNB General Manager (Punjab South zone) I D Singh said in a release here.
Last year, the bank disbursed education loan to the tune of Rs 55 crore in the region.
Some of the cities which are included in PNB southern zone are Ludhiana, Bathinda, Ferozepur, Faridkot, Patiala, Ropar, Sangrur and Barnala.
PNB has two education loan schemes ‘Vidyalakshya Apurti and ‘Sarvottam Shiksha’, under which loans are given to students to pursue higher education, Singh said.
Under ‘Vidyalakshya Apurti’, the public sector bank provides easy education loans to deserving students to pursue higher professional and technical education in India as well as abroad, he said.
“We have another scheme, ‘Sarvottam Shiksha’, for students who have already secured admission in prominent educational institutions such as IITs, IIMs, government recognised medical colleges and other professional educational institutes relating to biotechnology, physical sciences, banking etc,” he said.
Education loans up to Rs 7.50 lakh are being provided for pursuing higher studies in India, while loan of up to Rs 15 lakh can be considered for studies abroad.