Lok Sabha Question No. 1912 (UNSTARRED), answered on 2022-03-14
Subject: Educational Loan for Higher Education
Ministry: FINANCE
Asked by: Nalin Kumar Kateel

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES

## LOKSABHA

## UNSTARRED QUESTION NO. 1912

## TO BE ANSWERED ON THE 14 th MARCH, 2022, PHALGUNA23, 1943 (SAKA)

## EDUCATIONAL LOAN FOR HIGHER EDUCATION

1912. SHRI NALIN KUMAR KATEEL:

Will the Minister of FINANCE be pleased to state:

- (a) whether the Government has fixed any target for disbursing educational loan to students  to  pursue  higher  education  during  each  of  the  last  three  years  and  the current year;
- (b) if  so,  the  details thereof including the target achieved so far, State and districtwise;
- (c) if not, the reasons so, the details thereof;
- (d)  whether the students of economically weaker sections are not getting the loans from the banks; and
- (e)  if so, the details thereof along with the corrective steps taken by the Government in this regard?

## ANSWER

MINISTER OF STATE IN THE MINISTRY OF FINANCE(DR. BHAGWAT KARAD)

- (a) to (c): Public Sector Banks are allocated educational loan disbursement targets at the  level  of  the  bank.  These  targets  are  not  allocated  State-wise  or  district-wise. Based on information furnished by these banks, the bank-wise targets allocated and achievement against the same during the last three years and the current financial year  (up  to  December  2021)  is  at  Annex.  State-wise  and  district-wise  details  of educational loans disbursed are being collected and will be laid on the Table of the House.
- (d) and (e): The Indian Banks' Association has formulated a Model Education Loan Scheme for its member banks. Banks sanction education loans to all categories of students, including to students who belong to economically weaker sections, keeping in  view  their  respective  Board-approved  loan  policies,  instructions  issued  by  the Reserve Bank of India,  and  the  said  model  scheme  and  advisories  issued  by  the Association.

***

## Lok Sabha Un-starred Question no. 1912 for 14th March 2022, regarding 'Educational Loan for Higher Education'

## Annex

## Educational loan disbursement targets allocated to Public Sector Banks and achievement against the same during the last three years and the current financial year (up to December 2021)

|                       | 2018-19             | 2018-19                  | 2019-20                         | 2019-20                         | 2020-21                              | 2020-21                              | 2021-22                              | 2021-22                                     |
|-----------------------|---------------------|--------------------------|---------------------------------|---------------------------------|--------------------------------------|--------------------------------------|--------------------------------------|---------------------------------------------|
| Public Sector Bank    | Target (in crore ₹) | Achievement (in crore ₹) | Target (in crore ₹)             | Achievement (in crore ₹)        | Target (in crore ₹)                  | Achievement (in crore ₹)             | Target (in crore ₹)                  | Achievement (Up to 31.12.2021) (in crore ₹) |
| Allahabad Bank        | 305.18              | 252.54                   | 303.00                          | 206.90                          | Amalgamated into Indian Bank         | Amalgamated into Indian Bank         | Amalgamated into Indian Bank         | Amalgamated into Indian Bank                |
| Andhra Bank           | 590.00              | 452.98                   | 544.00                          | 445.94                          | Amalgamated into Union Bank of India | Amalgamated into Union Bank of India | Amalgamated into Union Bank of India | Amalgamated into Union Bank of India        |
| Bank of Baroda        | 606.90              | 901.00                   | 1,630.00                        | 1,621.35                        | 1,630.00                             | 1,277.93                             | 1,630.00                             | 1,410.63                                    |
| Bank of India         | 584.99              | 428.48                   | 515.00                          | 387.17                          | 515.00                               | 297.00                               | 515.00                               | 324.33                                      |
| Bank of Maharashtra   | 312.61              | 283.78                   | 341.00                          | 326.07                          | 341.00                               | 225.91                               | 341.00                               | 286.23                                      |
| Canara Bank           | 1,709.26            | 1,503.34                 | 1,806.00                        | 1,590.67                        | 2,407.00                             | 1,638.71                             | 2,407.00                             | 1,551.64                                    |
| Central Bank of India | 842.92              | 648.95                   | 780.00                          | 492.27                          | 780.00                               | 418.99                               | 780.00                               | 185.26                                      |
| Corporation Bank      | 433.28              | 185.50                   | 223.00                          | 158.79                          | Amalgamated into Union Bank of India | Amalgamated into Union Bank of India | Amalgamated into Union Bank of India | Amalgamated into Union Bank of India        |
| Dena Bank             | 130.00              | 55.54                    | Amalgamated into Bank of Baroda | Amalgamated into Bank of Baroda | Amalgamated into Bank of Baroda      | Amalgamated into Bank of Baroda      | Amalgamated into Bank of Baroda      | Amalgamated into Bank of Baroda             |
| Indian Bank           |                     | 418.33                   |                                 | 457.56                          |                                      | 459.52                               |                                      |                                             |

|                           | 472.19           |           | 503.00                          |                                 | 806.00                                                              |                                                                     | 806.00                                                              | 443.54                                                              |
|---------------------------|------------------|-----------|---------------------------------|---------------------------------|---------------------------------------------------------------------|---------------------------------------------------------------------|---------------------------------------------------------------------|---------------------------------------------------------------------|
| Indian Overseas Bank      | 474.32           | 350.72    | 421.00                          | 298.97                          | 421.00                                                              | 176.37                                                              | 421.00                                                              | 149.77                                                              |
| Oriental Bank of Commerce | 360.00           | 324.35    | 390.00                          | 367.81                          | Amalgamated into Punjab National Bank                               | Amalgamated into Punjab National Bank                               | Amalgamated into Punjab National Bank                               | Amalgamated into Punjab National Bank                               |
| Punjab National Bank      | 1,428.00         | 1,129.00  | 1,356.00                        | 1,057.00                        | 1,806.00                                                            | 961.80                                                              | 1,806.00                                                            | 761.15                                                              |
| Punjab and Sind Bank      | 88.08            | 81.38     | 98.00                           | 90.00                           | 98.00                                                               | 52.00                                                               | 98.00                                                               | 51.00                                                               |
| Syndicate Bank            | 679.54           | 499.92    | 601.00                          | 509.88                          | Amalgamated into Canara Bank                                        | Amalgamated into Canara Bank                                        | Amalgamated into Canara Bank                                        | Amalgamated into Canara Bank                                        |
| UCO Bank                  | 159.58           | 119.45    | 144.00                          | 139.90                          | 144.00                                                              | 107.21                                                              | 144.00                                                              | 103.58                                                              |
| Union Bank of India       | 801.67           | 685.91    | 824.00                          | 636.53                          | 1,591.00                                                            | 960.62                                                              | 1,591.00                                                            | 941.67                                                              |
| United Bank of India      | 79.69            | 49.78     | 60.00                           | 49.94                           | Amalgamated into Punjab National Bank                               | Amalgamated into Punjab National Bank                               | Amalgamated into Punjab National Bank                               | Amalgamated into Punjab National Bank                               |
| Vijaya Bank               | 457.30           | 399.60    | Amalgamated into Bank of Baroda | Amalgamated into Bank of Baroda | Amalgamated into Bank of Baroda                                     | Amalgamated into Bank of Baroda                                     | Amalgamated into Bank of Baroda                                     | Amalgamated into Bank of Baroda                                     |
| State Bank of India       | 5,184.00         | 5,066.00  | 6,087.00                        | 6,426.00                        | 6,426.00                                                            | 4,979.00                                                            | 6,426.00                                                            | 5,113.00                                                            |
| IDBI Bank Limited         |                  | 311.43    | 374.00                          | 284.10                          | Recategorised by the Reserve Bank of India as a Private Sector Bank | Recategorised by the Reserve Bank of India as a Private Sector Bank | Recategorised by the Reserve Bank of India as a Private Sector Bank | Recategorised by the Reserve Bank of India as a Private Sector Bank |
| Total                     | 300.00 15,999.51 | 14,147.98 | 17,000.00                       | 15,546.85                       | 16,965.00                                                           | 11,555.06                                                           | 16,965.00                                                           | 11,321.80                                                           |

Source: Banks