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Monday, May 30, 2005

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Indian Bank focusing on education loans

Our Correspondent

Madurai , May 29

INDIAN Bank is focusing on tie-ups with professional-educational institutions across the country for spot sanction of educational loans. Speaking to Business Line here, the Executive Director, Mr B. Sambamurthy, said that the bank has given high priority for educational loans. It would be operating a counter at the Thiagarajar College of Engineering in the city at the time of counselling for admission.

Arrangements are going on with other institutions also.

The bank has sanctioned Rs 110 crore to 9,950 students. It has also come forward to sanction them further assistance to establish own units after completion of their studies. Mr Sambamurthy said that the bank proposed to extend the coverage under the RTGS to 400 branches within four months and open 150 more ATMs within a year.Mr Sambamurthy was in the city in connection with the opening of a spacious branch.

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