Indian government minister asks banks to give more education loans

Since last year, banks in India have been more cautious on giving education loans to students seeking education abroad.    Many factors are playing into this trend: issues students have faced in universities that are not recognized or approved, and quality of medical degrees from universities in Russia to name two.

And yet the demand for higher education continues to grow, which led to the Finance minister in the Indian government to urge Indian banks to grant more loans to students. An important statistic the Minister shared was that nearly 2.4 million students have taken education loans valued at $50bn so far.

Easy access to education loans has been one of the major factors in the increasing number of students choosing to study abroad. So the message from the government is well-timed to ensure the banks don’t clamp down too hard in their due diligence process.

This request comes at a time when banks are more cautious about issuing Educational loan especially for students aspiring to do medicine abroad.

Top- ranked Indian School of Business, which already has programs in Oman, UAE, Pakistan and Bangladesh, is

Source: https://theinsideindiablog.wordpress.com/2013/01/30/indian-union-minister-asks-banks-to-give-more-education-loans/