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No proposal under the consideration for the waiver for education loans: Nirmala Sitharaman

No Proposal For Education Loans Waiver, Says Government

Nirmala Sitharaman, Union Finance Minister in the winter session of the Parliament on Monday said, there is no proposal under the consideration for the waiver for education loans. “As per reported by the Public sector banks, no case of suicide by students due to unbearable pressure from banks to repay education loans has been reported, due to which no proposal has been taken into consideration,” said Minister Sitharaman.

In the last three years from 2016 -2017  to Marc 2019, the amount of outstanding education rose from ₹67.685 crores to ₹75,450 crores in September 2019.

More than 90% of these accounts are standards as on March 31this year, Minister Sitharaman told the lower house of Parliament, Lok Sabha.

She further said, banks have been stimulated to choose a non-coercive approach for the recovery of education loans.

“Further, no proposal under the consideration for the waiver for education loans,” she added. According to her, data linking education loans approved by the banks with securing jobs is not centrally maintained.

Meanwhile, Union Finance Nirmala Sitharaman was the center of attention on Twitter with her remark on the rising onion prices. She said, “I don’t eat a lot of onions and garlic, so don’t worry. I come from a family that doesn’t care much about onions.”

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