Education loans given out by banks are steadily declining for three years, shows the data by the Reserve Bank of India (RBI). The size of the education loan book of Indian commercial banks is nearly Rs 65,000 crore — about 0.3 per cent of gross domestic product.
While education loans outstanding were growing at a rate of 6-8 per cent till the end of 2016, the rate of growth started declining after December 2016 — a month after the demonetisation exercise was carried out. The decline has continued unabated, and at the end of November 2019, the outstanding has contracted by …
Source: Business Standard
