debasish acharya, op
Bhubaneswar, Jan 9: Banks in the state have sanctioned Rs100.75 crore as of January 4 under the Kalinga Sikhya Sathi Yojana since the scheme was launched in 2016, an official of the higher secondary department said. The scheme is aimed at helping economically weak families to access education.
Education loans under the scheme were sanctioned under two income slabs; banks sanctioned Rs68.98 crore to 1,853 beneficiaries in the under-Rs4.5 lakh income bracket and Rs31.77 crore to 842 beneficiaries in the Rs4.5 lakh to Rs6 lakh income bracket, the official said.
According to him, State Bank of India, the biggest public lender, sanctioned Rs40.63 crore to 954 students in the first income bracket and Rs7.09 crore to 148 students in the second income bracket.
“As of September, banks were able to sanction Rs24.55 crore [in the first income bracket] to 1,240 accounts. [Under the second income bracket] banks have sanctioned Rs7.83 crore,” the official said.
A report of the SLBC said that among public sector banks, Bank of Maharashtra, Central Bank of India, Punjab and Sind Bank, Punjab National Bank and Syndicate Bank were unable to sanction loans under the scheme.
Among private sector banks, only two sanctioned loans under the KSSY. ICICI bank has sanctioned Rs324.50 crore to 50 beneficiaries in the first income group and Rs63.26 crore to 9 accounts in the second income group.
Among regional rural banks, Odisha Gramya Bank sanctioned Rs27.12 crore to 10 accounts in the first income bracket and Rs6 crore to 4 accounts in the second income slab. The Utkal Grameen Bank sanctioned Rs11 crore overall in both slabs.
A State Bank of India official said banks in the state were reluctant to offer education loans as such loans were more likely to become NPAs. The loans turn into NPAs as parents do not repay if their child is unable to get a good job, the official added.