Left Menu
Development News Edition

9 pct education loan by PSBs called as NPA in 2018, most from nursing


9 pct education loan by PSBs called as NPA in 2018, most from nursing
In a separate question about loans to micro, small and medium enterprises (MSMEs), he said more than Rs 9.06 crore was disbursed during 2017-18 across all states and union territories. (Image Credit: Twitter)

Nearly 9 per cent of the education loans extended by public sector banks (PSBs) were categorised as non-performing assets in the last financial year, according to the government. "As per information provided by Indian Banks' Association (IBA), NPAs of PSBs increased from 7.29 per cent as on March 31, 2016, to 8.97 per cent as on March 31, 2018," Minister of State for Finance Shiv Pratap Shukla said in a written reply to Lok Sabha.

He was replying to a question whether non-performing assets (NPAs) in the education sector rose to 9 per cent during the two years period (2016-18). Among the NPAs of PSBs under education category, the highest 21.28 per cent originated from nursing courses followed by engineering (9.76 per cent), other professions (9.49 per cent), medical profession (6.06 per cent) and MBA (5.59 per cent). As of March 31, 2015, the education sector, bad loans stood at 5.7 per cent, the minister said citing IBA data.

The banks received repayment of education loans worth Rs 13,766.82 crore in 2017-18; Rs 11,548.87 crore in 2016-17; Rs 9,124.95 crore in 2015-16 and Rs 8,537 crore in 2014-15, Shukla said in response to the repayment position since 2014-15. In a separate question about loans to micro, small and medium enterprises (MSMEs), he said more than Rs 9.06 crore was disbursed during 2017-18 across all states and union territories. In 2016-17, the MSME sector got loans of more than Rs 7.89 lakh crore from banks, Rs 8.77 lakh crore in 2015-16 and Rs 7.76 lakh crore in 2014-15.

The minister said government and the Reserve Bank have taken several steps to ensure access of credit to MSMEs. He also informed the House that the online lending portal with majority ownership of 6 PSBs and financial institutions, their associate companies have been launched to provide loans of up to Rs 1 crore in 59 minutes.

(With inputs from agencies.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

Future of Food: Technology fostering the road to global food security

Technological innovation can help address most of the pressing issues facing the world today including food security by enhancing productivity, improving financial services, managing resources, addressing environmental concerns, etc....

Conspiracy theories on COVID 19: Legislators, Scientists, and Journalists all joined the Caravan

Conspiracy theories are not new for virus epidemics. There have been conspiracy theories on HIV-AIDS, Polio Vaccines, Ebola Virus, and several other diseases as well. However, what makes the 2019 Novel Coronavirus different from others is ...

Now it’s a war, Uganda deploys army to combat locust swarms

Its for the first time after 1986, the locust swarms have attacked Uganda twice in a season. With the increasing number of countries of Africa under attack by locust swarms, the problem seems to have taken a regional paradigm. Its very diff...

Top 10 Fake News, Myths and Realities on 2019 Novel Coronavirus COVID 19

With nearly 1500 deaths by January 14 and around 65,000 infections in China, the Novel Coronavirus 2019 has become one of the worst health epidemics of the 21st Century. However, 8,573 people have been cured but the rumor mongers are a...

Videos

Latest News

PMK welcomes Bihar Assembly resolution against NRC

NDA constituent PMK on Thursday welcomed the Bihar Assembly adopting an anti-NRC resolutionand lauded the Tamil Nadu government for saying such a move was under its consideration too.Party founder S Ramadoss called for implementing the Nati...

South Korea, US postpone annual military drills due to virus

Seoul, Feb 27 AP The South Korean and US militaries on Thursday announced that they were postponing their annual joint drills due to concern about a viral outbreak that has infected soldiers in both countries armed forces, put many troops i...

Skoda Auto launches Octavia RS 245 priced at Rs 35.99 lakh

Skoda Auto India on Thursday launched its limited edition Octavia RS 245 model priced at Rs 35.99 lakh ex-showroom with online bookings scheduled to open on March 1. The car can be booked against a fee of Rs 1 lakh and a limited 200 units o...

Job insecurity may negatively affect your personality: Study

Experiencing job insecurity in the form of short-term contracts or casual work over a long period of time may negatively change an individuals personality, according to a study unveiled on Thursday. The study, published in the Journal of Ap...

Give Feedback