Banks show unwillingness to help ordinary people, KC Venugopal, MP, he said.
On Saturday, Venugopal launched a Banking Committee at the district level in Alappuzha and urged banks to prove humanitarian assessment and at the same time sanction loans. He called for a system to ensure that the loans provided by banks addressed the intended recipients.
“Banks are still hesitant about providing loans to fishing families families and those who work in a fishing sector in Alappuzha. It is necessary to take steps to make the educational loans more transparent and ensure their timely sanction,” he said.
Venugopal said that the attitude of the banks seems to question the very purpose of educational loans. “Although a significant number of people who use these loans are successful in their lives through education, banks often quote a small percentage of defaulters to justify their unwillingness to provide educational loans. This approach is unfortunate,” KC Venugopal said.
Although Alappuzha is an agricultural neighborhood, she receives agencies like the National Bank for Agriculture and Rural Development (NABARD), he said. “Coir workers should also be admitted to compassionate access. Banks should change their approach to denying loans to workers in the primary industry,” he added.
Banks in the ALAPPUZHA district paid 22,398 Crore as loans during the fiscal year 2024-25.
The district collector Alex Varghese chaired. The state bank of India Regional Manager Manoj TV, head of the bank M. ARUN and others participated.
Published – June 22, 2025 17:05
