EDUCATIONAL LOANS MADE EASY

Securing education loans will not be herculean task any more. To make the loan-lending process hassle-free, the Union Finance Ministry has endorsed public sector banks' demand for setting up of a Guarantee Fund on the lines of a similar scheme existing for the small enterprises sector. The banks had been pleading with the ministry for a Guarantee Fund for months as they feared the high-level of Non Performing Assets (NPAs) and the sudden surge in educational loan disbursements in 2005-06