Banks loath to give education loans

Education loan is still a distant dream for many in Madhya Pradesh as public sector banks have reportedly turned down a number of eligible students, while a large number of private banks have sanctioned zero loans during financial year 2009-10.

Banks which have sanctioned less than 50 cases are Andhra Bank (16), Corporation Bank (33), Indian Bank (16), Indian Overseas Bank (19), Syndicate Bank (42), United Bank of India (44) and Vijaya Bank (45).The

State Bank of Hyderabad disbursed only Rs 500,000 on 2 cases.

The dismal performance of private banks was also evident from the data as ICICI Bank, IndusInd Bank, Ing Vysya, Karur Vysya Bank and South Indian Bank disbursed no amount to any student.