Financial Daily from THE HINDU group of publications
Wednesday, Feb 18, 2004
Financial Daily from THE HINDU group of publications Wednesday, Feb 18, 2004 |
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Money & Banking
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Consumer Finance SBT sop for CUSAT staff Our Bureau
KOCHI: The State Bank of Travancore and Cochin University of Science and Technology has entered into an agreement to implement the new SBT Akshaya Overdraft Scheme for the benefit of CUSAT employees. As per the scheme, employees can avail themselves of loans ranging from Rs 50,000 to Rs 2 lakh depending upon their eligibility. Employees can operate the overdraft account through cheque-book facility. The university will be routing the salary and other allowances payable to the employees through the POD accounts. The salient feature of the scheme is that it did not call for personal guarantee of other employees and it does not impose a fixed repayment programme. At a function convened at the University headquarters, the bank's DGM, Mr G. Madhusoodana Rao, and CUSAT Registrar, Dr K.V. Kunhikrihsnan, executed the agreement in the presence of the Vice-Chancellor, Dr N. Unnikrihsnan Nair.
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