142 per cent rise in bad education loans in 3 years

142 per cent rise in bad education loans in 3 years

Indian banks have seen a 142 per cent rise in default by students who have taken education loans during the past few years, at a time when hiring for new jobs has slowed down and tech companies have started laying off employees. State-owned banks, which are already weighed down by huge defaults by corporates, are the worst hit as they account for over 90 per cent of educational loans. Private banks have largely stayed away from this segment. In the education segment, the total non-performing assets (NPAs), or loans on…

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