A total of 291 students received educational loans worth over ₹18.51 crore at an education loan mela organized here on Sunday.

Minister for Finance P.T.R. Palanivel Thiaga Rajan and Minister for Commercial Taxes P. Moorthy handed over letters of sanction to the students. Mr. Moorthy said the camp was organized with the participation of nationalized and privatized banks to enable eager students to pursue higher education without any hindrance. A target to issue loans to the tune of ₹250 crore has been fixed for the current financial year to help poor students pursue education.

Granting loans to Micro, Small, and Medium Enterprises (MSMEs) and students would take the country towards development. “By taking part in quarterly meetings of the State-Level Bankers’ Committee (SLBC), I am able to gauge the credit needs of people from different backgrounds and ensure that they receive loans as per their requirements,” he said.

According to District Lead Bank Manager D. Anil, 1,550 students participated in the mela from Madurai and Sivaganga districts. “Sixteen major banks participated,” he said.

S. Venkatesan, MP, said over 900 online applications for educational loans were received. Collector S. Aneesh Sekhar, Mayor Indirani Ponvasanth, Madurai South MLA M. Boominathan, and Corporation Commissioner Simranjeet Singh Kahlon were present.