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Though the district registered 29 per cent increase in sanction of education loans from April to December 2011 this financial year compared to the same period the previous year, the demand is higher in the district, according to Collector M. Karunagaran.
Colleges:Speaking at the release of the Annual Credit Plan for Coimbatore district on Thursday, he said that given the large number of colleges and the student population in the district, the requirement for education loans was high here. Bankers should focus on it. “Education loans are not advances (credit) but investment,” he said. Assistant General Manager of Reserve Bank of India M. Vijaya kumar reiterated that banks should focus more on education loans. The district had much to rejoice as it had met the target for most of the government schemes. Higher Outlay:The credit outlay for 2012-2013 would be higher than last year by Rs 935 cr, which was nearly 18 per cent more than this year. Lead Bank Manager J. Vanangamudi explained the schemes and how the district had even surpassed the target for some of these. The Collector also pointed out that since Coimbatore was an industrial district, advances to small and medium-scale sector were high. In 2012-2013, the sector would have 14.81 per cent higher credit outlay. It would be Rs 2,690 cr from Rs 2,343 cr in 2011-2012. However, banks should focus on crop loans too as the district had large area under farming and the scope was high for horticultural crops. Envisaging higher advancement for the agriculture sector, the plan proposed 21 per cent increase in agricultural credit next year. It would be Rs 2,269 cr as against Rs 1,870 cr this year. Mr. Vijayakumar said small loans for micro, small and medium-scale units, especially first generation entrepreneurs, should be given without asking for collateral.
Courtesy: The Hindu
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