To provide Educational Loans for students
Hyderabad, July 5, 2006
The International Institute of Information Technology (IIIT) and Andhra Bank signed a Memorandum of Understanding for disbursal of educational loans to students of IIITH. The Chairman and Managing Director of Andhra Bank K.Ramakrishnan said that the benefits of MoU will cover both the Undergraduate and Post Graduate courses offered by the IITH.
According to MoU, the educational loan 'Pattabhi Vidyajyothi Scheme', named after founder of Andhra Bank Pattabhi Sittaramaiah, will felicitate loans up to a limit of Rs.4 lakh for UG courses and 2.75 lakhs for PG Courses. He said that the Bank is one of the leading banks in the country has so far extended Rs.1012 crore aggregate sanctions to 46.919 students. Five students were given loans worth Rs.12.2 lakhs during the occasion.
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