Indian Bank has planned to push for education loans in Karnataka

By Pradeep Yuvaraj | May 16, 2011

A recent press repots said that Indian Bank has planned to push for educational loans in Karnataka. The outstanding of the bank stood at Rs 44.67 crore benefiting 1,698 students in the State.

Mr. T.M. Bhasin, Chairman and Managing Director of Indian Bank, said the bank’s total educational loan portfolio stood at Rs 2,810.67 crore benefiting 1.88 lakh students. He also said that the bank had sanctioned 805 educational loans amounting to Rs 10.58 crore in the financial year (FY) 2010-11. The bank has a portfolio of over 42 loan products ranging from regular Home loan and car loan to NRI plot loans and agriculture produce marketing loan.

Mr. T.M. Bhasin also announced that the bank would reimburse the course fees for the 17 toppers who got admission under CET 2011 selection process and pursuing studies in Karnataka in medicine, engineering, architecture and Indian medical streams. He also said that the bank is planning for a follow-on public offer and the details will be announced shortly.

Reports said that the bank at present has 1,173 ATMs spread all over the country and is planning to add 75 more in Karnataka before this financial year (2011-12).

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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