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» News > Education > Canara Bank Education Loan Scheme For Students
The Canara Bank is expecting to sanction education loans to 25,000 students under the Centralised Allotment Process (CAP) alone this academic year.
Earlier, the bank had decided to give education loans provisional sanction letters“ to all the students getting admissions to medical and engineering colleges in CAP 2005. The Commissioner of Entrance Examinations, had also appointed the Canara Bank as the official bankers for 2005-2006. This recognition also comes at a time when the bank is celebrating its Centenary Year from July 1, 2005 to June 30, 2006.
The assistant general manager K. G. P. Shenoi said here on Monday that the bank had taken up the collection of fees for admission to medical and engineering colleges at the three CAP centres in Thiruvananthapuram, Kochi and Kozhikode.
The bank`s West Hill branch in Kozhikode opened an extension counter at the Institute of Management in Government (IMG) hall, on the Kozhikode Medical College campus, for this purpose on July 1. The counter would function till July 30 when the admissions were expected to be completed, Mr. Shenoi said.
Funding
Canara Bank has pioneered the funding of education loans for students for higher studies. It sanctioned loans to the tune of Rs. 719 crores under this category in the country till March 2005.
According to deputy general manager (Circle Office, Thiruvananthapuram) P. Mohanan, very deserving student will get financial support from the bank. Canara bank, being the convener of the State Level Bankers Committee (SLBC), is committed to the social cause of the State.
Canara Bank having 247 branches in the State has Lead Bank responsibility in Kozhikode, Wayanad, Palakkad, Malappuram and Thrissur districts. It had taken a corporate decision to adopt one village in all five Lead Districts for special development during the Centenary Year. The budget was estimated at R.1 crore.
R.Vinod Murari, divisional manager, said that Union Finance Minister P. Chidambaram had presided over an education loan camp in Bangalore on the inaugural day of the Centenary Year of the bank on July 1.
Over 100 loans were distributed to students for studies within the country and abroad at the programme. The toppers of Karnataka Common Entrance Examinations were also honoured on the occasion.
Chairman and Managing Director M. B. N. Rao had presided over an education loan function in the State capital on July 15. Loans amounting to Rs.10 crores were sanctioned to 500 students at the function
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