SBI-Manipal combo card launched

Only 0.5 per cent of the GNP was allotted to specialised education which resulted in a shortage of skilled manpower in leading sectors, lamented O P Bhatt, chairman, SBI.

SBI had recognised the need to recruit and retaining talent and had disbursed Rs 3,000 crore in loans to 2 lakh students, he added.

Bhatt launched the SBI-Manipal University 'Combo card' in Manipal near Mangalore.

Bhatt said that the dream of economic resurgence depended to a great extent on imparting of quality education and healthcare.

The inequitable allocation of funds for education was the bane of the economy for long and the backlog of educated unemployed continued to be a matter of great concern, he observed.

Bhatt remarked that the interest rates had peaked and there were no signs of them hardening further. The hike in CRR had the cooling effect on inflation and though not the only prudent tool had a soothing touch for the common man.