Fearing defaults, banks go slow on education loans
A year after the finance minister urged banks not to turn down education loan applications from deserving candidates, lenders remain skeptical about the business, which, in the past, has been prone to higher defaults. Indeed, the main reason for banks going slow remains the relatively high ratio of non-performing assets (NPAs), which, as per some lenders, is as high as 7%.
(Courtesy of Sannam S4)
Source: Indian Express