Banks Fail To Provide Education Loan In Balasore

BALASORE: A district-level review committee of banks was held under the chairmanship of the district Collector on Saturday here.

Local MP Rabindra Kumar Jena, District Collector Pramod Das and the bankers including the representatives of NABARD and RBI were present in the meeting.

It was revealed from the meeting that the banks have failed to give the desired results. The performance of the banks in the terms of giving loan for education was dismal.

In the fiscal year 2015-16, the banks of the district had disbursed loan only 18 percent against the target Rs 67 crore.

In the last year, while only Rs 12 crore was disbursed, the SBI’s contribution was as low as 5 percent, said sources.

Balasore is one of most literate state with over 83 percent literacy rate,  yet the education loan disbursement was quite unsatisfactory.

Local MP and the district Collector placed some example before the bankers citing that how people are running from pillar to post to avail loan.

Similarly, while reviewing the crop insurance position of the district none of the bank was having the figure and list of the beneficiaries.

“Several  government welfare schemes including education loan facilities are existing. But, the schemes are not extended to the genuine and desired persons. If the banks do not cooperate, the schemes can’t be fruitful, said Jena.