Can’t take education loan off NPA: Finance minister

Can’t take education loan off NPA: Finance minister

TRICHY: The union ministry of finance refused to exempt education loans from non-performing asset (NPA) citing that Reserve Bank of India is against the exemption for maintaining credit discipline.  In a letter to the Union finance minister Arun Jaitley, MP Trichy Siva has urged not to bring education loans under NPA since non-payment of educational loan is affecting their Credit Information Bureau of India Limited (CIBIL) score.  Citing data from 2016, he highlighted that educational loan accounts for only 6.94 percent of the loans from banks. In the letter, he said that 37 percent of…

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