Education loan disbursal target for FY23 set at 13.5% lower than FY22: Rpt

In FY22, the country's financial system disbursed education loans for Rs 23,640 crore and for 12 PSBs in India, the target for FY23 has been fixed at Rs 20,450 crore

During the current financial year, the education loan disbursal target for public sector banks (PSBs) has been set at 13.5 per cent lower than the loans disbursed by all scheduled banks in FY22, reported the Indian Express (IE).

In FY22, the country's financial system disbursed education loans for Rs 23,640 crore. For 12 PSBs, the target for FY23 has been set at Rs 20,450 crore. In India, according to IE, nearly 90 per cent of all education loans are given by PSBs. 

The report added that PSBs are growing wary of small-sized loans which amount to less than Rs 7.5 lakh.