Lok Sabha Question No. 1759 (UNSTARRED), answered on 2023-02-13
Subject: Education Loans
Ministry: FINANCE
Asked by: Anto  Antony

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

## LOK SABHA

## UNSTARRED QUESTION NO. 1759

TO BE ANSWERED ON THE 13 th  FEBRUARY, 2023, MAGHA 24, 1944 (SAKA)

## 'Education Loans'

## 1759. SHRI ANTO ANTONY:

Will the Minister of FINANCE be pleased to state:

- (a) whether the Government has any statistics regarding number of students availed educational loan for studying abroad, especially for medicine;
- (b) If so, the details of loans provided by various banks to such students during the last ten years, year/bank-wise;
- (c) whether the Government has received any complaints regarding denial of educational loans and non-release of sanctioned loan especially those students who are affected due to the conflict between Russia and Ukraine; and
- (d) If so, the details thereof and the corrective steps taken by the government in this regard?

## ANSWER

## MINISTER OF STATE IN THE MINISTRY OF FINANCE

## (DR. BHAGWAT KARAD)

- (a):  As  reported  by  Public  Sector  Banks  (PSBs),  4,61,017  number  of  students  availed educational loan for studying abroad, out of which, 42,364 students have availed education loan for studying medicine in the last ten years. Details are at Annexure I.
- (b):  The  details  of  loans  disbursed  by  PSBs  to  students  who  availed  educational  loan  for studying  abroad  especially  for  medicine  during  the  last  ten  years,  year/bank-wise  are  at Annexure II.
- (c) & (d): As reported by Reserve Bank of India (RBI), the grievance redress mechanism of RBI extends to the entities regulated by it. The Regulated Entities (REs) have the primary responsibility of redressal of complaints. Customers who are not satisfied by the response of the RE or if no response is received, can file a complaint before RBI under the Reserve Bank Integrated Ombudsman Scheme (RB-IOS), 2021. Complaints against REs not covered under RB-IOS,  2021  can  be  lodged  with  Consumer  Education  and  Protection  Cells  (CEPCs)  of Reserve Bank of India. Accordingly, no complaint regarding denial of educational loans and non-release of sanctioned loan to students who are affected due to the conflict between Russia and Ukraine was received against banks under RB-IOS, 2021 from February 2022 till date.

*****

## ANNEXURE I as referred to in Part (a) of the reply

## Annexure I

| Number of students availed education loan for studying abroad   |
|-----------------------------------------------------------------|

Footnote:

- A- Number of students availed education loan for studying abroad
- '-' - Nil

## ANNEXURE II as referred to in part (b) of the reply

|                       | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   | Details of loans disbursed by various Banks to Students who availed Educational   |
|-----------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|
| Banks                 | 2012-13                                                                           | 2012-13                                                                           | 2013-14                                                                           | 2013-14                                                                           | 2014-15                                                                           | 2014-15                                                                           | 2015-16                                                                           | 2015-16                                                                           | 2016-17                                                                           | 2016-17                                                                           | 2017-18                                                                           | 2017-18                                                                           | 2018-19                                                                           | 2018-19                                                                           | 2019-20                                                                           | 2019-20                                                                           |                                                                                   | 2021-22                                                                           | 2021-22                                                                           |                                                                                   |
|                       | A                                                                                 | B                                                                                 | A                                                                                 | B                                                                                 | A                                                                                 | B                                                                                 | A                                                                                 | B                                                                                 | A                                                                                 | B                                                                                 | A                                                                                 | B                                                                                 | A                                                                                 | B                                                                                 | A                                                                                 | B                                                                                 | B                                                                                 | A                                                                                 | B                                                                                 |                                                                                   |
| Bank of Baroda        | 97.12                                                                             | 2.67                                                                              | 100.05                                                                            | 3.90                                                                              | 141.76                                                                            | 5.25                                                                              | 177.24                                                                            | 8.27                                                                              | 177.37                                                                            | 7.74                                                                              | 243.25                                                                            | 13.00                                                                             | 493.30                                                                            | 20.94                                                                             | 683.49                                                                            | 22.49                                                                             | 22.01                                                                             | 1184.20                                                                           | 36.91                                                                             |                                                                                   |
| Bank of India         | 8.60                                                                              | 0.04                                                                              | 67.93                                                                             | 0.49                                                                              | 108.23                                                                            | 0.93                                                                              | 109.01                                                                            | 0.98                                                                              | 102.66                                                                            | 1.03                                                                              | 113.69                                                                            | 1.38                                                                              | 104.07                                                                            | 1.35                                                                              | 94.25                                                                             | 1.36                                                                              | 0.75                                                                              | 24.14                                                                             | 0.49                                                                              |                                                                                   |
| Bank of Maharashtra   | 24.68                                                                             | 2.01                                                                              | 42.96                                                                             | 1.44                                                                              | 71.21                                                                             | 3.56                                                                              | 99.93                                                                             | 3.69                                                                              | 77.98                                                                             | 3.07                                                                              | 88.09                                                                             | 2.81                                                                              | 95.09                                                                             | 2.87                                                                              | 115.81                                                                            | 4.82                                                                              | 4.08                                                                              | 169.95                                                                            | 5.89                                                                              |                                                                                   |
| Canara Bank           | 97.14                                                                             | 1.11                                                                              | 244.83                                                                            | 7.24                                                                              | 432.40                                                                            | 15.15                                                                             | 640.18                                                                            | 26.02                                                                             | 682.18                                                                            | 31.87                                                                             | 647.04                                                                            | 45.44                                                                             | 716.41                                                                            | 52.07                                                                             | 836.96                                                                            | 65.88                                                                             | 55.70                                                                             | 1156.01                                                                           | 57.24                                                                             |                                                                                   |
| Central Bank of India | 4.25                                                                              | -                                                                                 | 20.04                                                                             | -                                                                                 | 45.06                                                                             | -                                                                                 | 55.05                                                                             | -                                                                                 | 64.88                                                                             | 0.19                                                                              | 66.10                                                                             | 0.85                                                                              | 77.26                                                                             | 0.25                                                                              | 48.55                                                                             | 0.88                                                                              | 0.08                                                                              | 43.12                                                                             | 1.62                                                                              |                                                                                   |
| Indian Bank           | 57.05                                                                             | 2.04                                                                              | 67.61                                                                             | 1.69                                                                              | 85.86                                                                             | 1.95                                                                              | 113.42                                                                            | 1.99                                                                              | 185.73                                                                            | 2.60                                                                              | 218.71                                                                            | 1.98                                                                              | 210.70                                                                            | 2.77                                                                              | 225.64                                                                            | 3.69                                                                              | 4.99                                                                              | 284.00                                                                            | 9.96                                                                              |                                                                                   |
| Indian Overseas Bank  | -                                                                                 | -                                                                                 | -                                                                                 | -                                                                                 | -                                                                                 | -                                                                                 | -                                                                                 | -                                                                                 | 45.84                                                                             | 0.65                                                                              | 76.32                                                                             | 0.18                                                                              | 86.84                                                                             | 0.18                                                                              | 80.22                                                                             | 0.14                                                                              | 0.48                                                                              | 76.26                                                                             | 0.85                                                                              |                                                                                   |
| Punjab &Sind Bank     | 11.23                                                                             | 0.67                                                                              | 11.60                                                                             | 0.76                                                                              | 12.58                                                                             | 0.96                                                                              | 13.27                                                                             | 1.12                                                                              | 10.16                                                                             | 0.82                                                                              | 11.25                                                                             | 1.05                                                                              | 10.82                                                                             | 0.68                                                                              | 11.25                                                                             | 1.24                                                                              | 0.37                                                                              | 19.10                                                                             | 2.28                                                                              |                                                                                   |
| Punjab National Bank  | 473.97                                                                            | 23.24                                                                             | 521.07                                                                            | 28.18                                                                             | 579.78                                                                            | 35.78                                                                             | 677.31                                                                            | 43.62                                                                             | 780.65                                                                            | 53.22                                                                             | 953.07                                                                            | 64.89                                                                             | 854.45                                                                            | 61.10                                                                             | 719.71                                                                            | 61.11                                                                             | 37.58                                                                             | 450.17                                                                            | 29.34                                                                             |                                                                                   |
| State Bank of India   | 373.83                                                                            | 19.18                                                                             | 574.72                                                                            | 26.96                                                                             | 889.56                                                                            | 32.02                                                                             | 1084.89                                                                           | 36.88                                                                             | 1286.17                                                                           | 45.14                                                                             | 1577.87                                                                           | 69.50                                                                             | 2033.39                                                                           | 83.23                                                                             | 2816.63                                                                           | 118.09                                                                            | 101.24                                                                            | 3556.47                                                                           | 108.69                                                                            |                                                                                   |
| UCO Bank              | 6.53                                                                              | 0.11                                                                              | 7.49                                                                              | 0.19                                                                              | 12.00                                                                             | 0.37                                                                              | 23.76                                                                             | 0.74                                                                              | 30.58                                                                             | 1.18                                                                              | 31.52                                                                             | 1.94                                                                              | 35.10                                                                             | 2.19                                                                              | 52.56                                                                             | 2.50                                                                              | 1.26                                                                              | 56.43                                                                             | 4.53                                                                              |                                                                                   |
| Union Bank of India   | 25.88                                                                             | 0.79                                                                              | 66.81                                                                             | 2.79                                                                              | 133.67                                                                            | 4.60                                                                              | 155.47                                                                            | 6.71                                                                              | 154.87                                                                            | 6.38                                                                              | 188.68                                                                            | 7.60                                                                              | 201.96                                                                            | 9.50                                                                              | 200.63                                                                            | 16.77                                                                             | 15.10                                                                             | 556.17                                                                            | 32.02                                                                             |                                                                                   |

Footnote:

- AEducation loan disbursed to students for studying abroad.
- BEducation loan disbursed to students for studying medicine abroad (out of A)
- '-' - Nil sanction

## Annexure II