Educational Loans has high takers from Tamil Nadu region: Chidambaram

According to the recent financial report on Education loans, it revealed that it has high takers from Tamil Nadu region.

On Saturday, Union finance Minister P Chidambaram said, "Students from Tamil Nadu reap maximum benefits from educational loans provided by banks. The number of students being benefited is comparably high when compared to students from other regions."

P Chidambaram who participated in the Canara Bank's loan distribution function at Thirumangalam said, "Of every four education loans provided by banks, one beneficiary belongs to Tamil Nadu."

He said, "To help more number of students benefit from the educational loans, the union government has fixed a target of 70,000 crores in the current financial year, of which nearly 25% is expected to be disbursed by banks in Tamil Nadu."

"The banks have disbursed 58,000 crores so far and hinted that more number of Tamil Nadu students benefitted from it because, the banks in the state have been proactive in implementing the loan schemes. "Society won't realise the benefit of educational loans immediately. It will take nearly 10 to 15 years to measure its impact," he said.

Stating that education is key for the growth of the country, Chidambaram said, "Even if a State has all the natural resources, it can't attain development without education."

Recollecting the role played by former Chief Minister K Kamaraj for the development of education in the State, Chidamabaram said the noon meal scheme implemented for improving education has helped Tamil Nadu turn into a developed State at present.