Banks to accept only online applications for education loan

Posted on:10 Feb 2018 10:42:37
Banks to accept only online applications for education loan
10 February 2018 Current Affairs: The government has directed the banks to only accept online applications for education loans in a bid to make the loan disbursement process transparent and efficient.
The banks have also been asked to not consider any application received in physical form.
The move also aims to tackle the delay in sanctioning of the education loans.
Vidya Lakshmi is the IT-based Student Financial Aid Authority to administer and monitor scholarships as well as education loan schemes.
The government has directed the banks to only accept online applications for education loans in a bid to make the loan disbursement process transparent and efficient.
The banks have also been asked to not consider any application received in physical form.
The move also aims to tackle the delay in sanctioning of the education loans.
Vidya Lakshmi is the IT-based Student Financial Aid Authority to administer and monitor scholarships as well as education loan schemes.

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