Education was increasingly becoming a matter of concern for the not so privileged class owing to the increased monetary requirements for the same. To add on to their woes was the fact that availing an education loan was not a cake walk for the borrower.
Long routines of visitng the bank for getting an education loan sanctioned and that too many times bringing failure had brought dispair and disappointment in many aspiring students.
This year however banks have decided to change their way of operations. Now, instead of the student approaching the bank for a loan, the bank would reach out to the intelligent students offering them financial assistance for education purposes.
"We identified Government and Corporation schools in this district with the help of the district administration, a month ahead of the results; later, when the results were announced, we got the list of the first ten toppers in each of these institutions from the Chief Educational Officer. The idea is to sound out to these students that banks would be forthcoming in extending the loan, should they need such assistance to pursue higher education," said an official of Canara Bank.
"It was further decided that no educational loan should be returned on the ground that the student/parent is having account with some other bank's branches. To ensure this, we traced the (residential) addresses of such meritorious candidates, checked the Ward number and the bank (branch) functional in that area for bank-wise allocation."
"Bankers are now waiting to give away the commitment letter to the candidate(s) at a formal function to be held soon. The students and parents have already been informed," he said.